Stocks to Watch on January 22: Dr Reddys, Eternal, Jindal Stainless Lead Pack

Dr Reddy's Laboratories, Eternal, Jindal Stainless, Bajaj Consumer Care, Waaree Energies, Gravita India, KEI Industries, and Lemon Tree Hotels draw focus on January 22. Triggers include Q3 earnings reactions, deals, and bulk trades.

InterGlobe Aviation, Indian Bank, DLF, Bandhan Bank, Adani Energy Solutions, and others report quarterly results today.

Key updates shape trading interest.

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Q3 Earnings Standouts

The profit of Dr Reddy's Laboratories has decreased by 14.4% to ₹ 1,209.8 crore, while the revenue has increased by 4.4% to ₹ 8,726.8 crore year over year.

Eternal's profit has increased by 72.9% to ₹ 102 crore, while the revenue has increased by 202% to ₹ 16,315 crore. Deepinder Goyal, who has been CEO since established, will be stepping down as of February 1, and will be replaced by Albinder Dhindsa. Goyal will take up the position of Vice Chairman.

Jindal Stainless reported a 26.6% increase in profit compared to the previous year at ₹ 828.8 crore, while the revenue increased by 6.2% to ₹ 10,517.6 crore.

Bank of India reported that there was a rise of 7.5% in their profits, totalling ₹ 1660.38 crores. Due to a reduction in their gross NPA ratio, which is now at 2.26%.

Bajaj Consumer Care’s profits surged 83.2% to a total of ₹ 1294.31 crores, and their sales grew 30.6% to ₹ 1726.17 crores.

Hindustan Petroleum’s profits increased by 57.7% to approximately ₹ 4539 crores.

Waaree Energies' profits exploded to about ₹ 5403 crore, which is an increase of 115.6%.

Strong Performers Continue

Anant Raj Ltd’s profits increased by 30.8% to approximately ₹ 1809 crores, and PNB Housing’s profits increased by 10.5% to ₹ 1416 crores.

Gravita India’s profits increased 25.3% to approximately ₹ 953 crores, and KEI Industries profits increased 42.5% to ₹ 337 crores.

Deals, Deals, and Listings
Biocon purchased the remaining 2% of Biocon Biologics for $200 million, now owning 98% of the company.

Lemon Tree has signed agreements for an 85-room hotel to be built in Omkareshwar (MP). CESC Green Power has entered into a memorandum of understanding with the Uttar Pradesh government for a proposed 3 GW solar plant, with an expected investment of ₹3,800 crores.

Fitch has placed Shriram’s financial ratings on positive watch following MUFG’s purchase of 20% ownership of Shriram.

Bulk transactions included Shankar Sharma selling shares of Rama Steel Tubes while buying shares of Valiant Communications. Sellers targeted Restaurant Brands Asia.

Block transactions included Goldman Sachs buying Adani Green Energy and BOFA buying RBL Bank.

Armour Security’s India listing on the SME Platform of the stock exchange is expected to be completed next week. D.B. Corp continues trading ex-dividend.

Both Bandhan Bank and Sammaan Capital are currently banned from trading in the Futures & Options market, while SAIL has been removed from this ban.