Stocks to Watch on January 21: JSW Energy, HCL Tech, RBL Bank Lead Focus

On January 21, investors were watching closely for developments from several companies, including JSW Energy, HCL Technologies, RBL Bank, Amagi Media Labs, Vikram Solar, CreditAccess Grameen, Rallis India & Supreme Petrochem. These companies have key triggers regarding quarterly earnings, large acquisitions/mergers, partnerships & bulk sales of their stock.

Today, Dr Reddy's Laboratories, Bank of India, Hindustan Petroleum, Jindal Stainless, Waaree Energies & Exide Industries are reporting results for the December quarter. United Spirits & Persistent Systems have particularly strong profit increases, which attract attention to them.

Investors are following the above companies as they report their results, and they will continue to do so closely.

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Key Q3 Earnings Highlights

In Q3 Operation Highlights, United Spirits reported a profit increase of 24.8% to ₹ 418 Crores, with an increase in sales of 7.6% to ₹ 3694 Crores. Persistent Systems had a profit increase of 17.8% to ₹ 439.4 Crores and a 23.4% increase in revenues; sales were ₹ 3778.2 Crores.

Likewise, Vikram Solar's profit increased more than five times to ₹98.1 Crores. AU Small Finance Bank's profit rose 26.3% to ₹667.6 Crores, which was aided by the decrease in the gross Non-Performing Assets (NPAs) ratio of 2.3%.

On the other hand, there were significant decreases in profits with Supreme Petrochem down 57.7% to ₹30.1 Crores and Rallis India down 81.8% to ₹2 Crores.

Major Deals and Approvals

JSW Energy (JSW) has entered into a renewable energy purchase contract with the West Bengal government for a 1600-MW thermal power generation facility to be built at a location west of Howrah.

HCL Technologies and Carahsoft are working with the United States Federal Government to create and develop a digital ecosystem for the United States' federal agencies. The Reserve Bank of India (RBI) has granted HDFC Bank a 2nd term as an executive director.

The Competition Commission of India (CCI) has approved the acquisition of the equity of RBL Bank by Emirates NBD, and approved Tata Steel's acquisition of a majority stake in Thriveni Pellets.

NHAI awards ₹646.8 million for a Toll Plaza Contract. 

Bulk Deals and Listings

Fidelity Group sold its stake in Aditya Birla Lifestyle Brands and Aditya Birla Fashion Ltd. as Hornbill Equity Partners made an exit from PropEquity, with internal shareholders buying in.

Amagi Media Labs has migrated its other business from Equities to the Main Board, while GRE Renew Enertech has migrated to the SME Board in the National Capital Region. Certain public equity shares, such as those from ICICI Prudential AMC and Angel One, are being quoted on an ex-dividend basis.

Power Grid Corporation has sanctioned ₹914 million for electrical equipment; Embassy Developments plans to construct the first high-rise (the NELSON project) in Mumbai, with an investment of ₹4,500 million.