Stocks to Watch on January 23: IndiGo, Bandhan Bank, Premier Energies in Focus

On January 23, several companies will release their quarterly earnings reports and announce large portfolio purchases, including IndiGo, Bandhan Bank, Premier Energies, Syngene International, Go Digit General Insurance, DLF, Home First Finance Company, Ashoka Buildcon and RK Swamy. Many of the earnings for these companies will be coming out on January 23.

In addition, there are several other reports/releases coming out for companies like Shriram Finance, Cipla, JSW Steel and the other four on January 24, along with Kotak Mahindra Bank and UltraTech Cement.

Indian markets closed higher on Monday, supported by strong buying in select heavyweight stocks. The Nifty 50 rose 0.91% to 24,585.05, while the Sensex gained 0.93% to 80,604.08. Adani Enterprises, Tata Motors, and Eternal were among the top performers, whereas Hero MotoCorp and Bharat Electronics saw marginal losses. Asian market cues were largely positive, with Japan’s Nikkei surging 1.85%, the Hang Seng adding 0.19%, and the Shanghai Composite up 0.34%. European indices traded mixed in mid-session, while on Wall Street, the Dow gained 0.48%, the Nasdaq advanced 0.81%, and the S&P 500 added 0.23% in the previous session.

Stock Market Highlights, August 11

• Domestic Indices Extend Gains: Indian benchmarks ended higher, with the Sensex up 0.93% at 80,604.08 and the Nifty 50 advancing 0.91% to 24,585.05. Adani Enterprises topped the gainers’ list with a 4.83% rise, followed by Tata Motors at 3.16%.
• Global Cues Mixed: Asian markets closed mostly in the green, led by Japan’s Nikkei, which climbed 1.85%. European indices were mixed at mid-session, with the FTSE 100 up 0.26% while the DAX and CAC 40 posted small declines.
• Wall Street Recap: In the previous session, U.S. indices ended higher, with the Dow Jones up 0.48%, the NASDAQ gaining 0.81%, and the S&P 500 advancing 0.23%.

Stay informed with our in-depth look at what’s driving the stock market tomorrow.

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Q3 Earnings Highlights

IndiGo's profits dropped by 77.6% YOY to ₹549.1 crore while revenues increased by 6.2% to ₹23,471.9 crores. The EBITDAR margin decreased to 30% from the previous quarter. 

Bandhan Bank's profits decreased by 51.8% to ₹205.6 crore, while the gross NPA ratio decreased to 3.33% (NPA = non-performing assets).

Premier Energies' profits grew 53.5% YOY to ₹391.7 crore while revenues increased by 13% YOY to ₹1,936.5 crore. Premier's solar panel manufacturing subsidiary has newly started production at a 400 MW solar cell manufacturing facility. 

Tanla Platforms' profits increased by 10.8% to ₹131.4 crore, while Syngene International had a profit decline of 88.6% YOY to ₹15 crore.

Suryoday Small Finance Bank's profits increased by 9.8% YOY to ₹36.6 crore; however, it has seen a rise in NPAs in the last quarter.

Profits at Gujarat State Petronet rose 9.7% to ₹256.8 crores, Bluestone Jewellery posted profits of ₹69 crores, and Go Digit's profit rose 18.2% to ₹140.1 crores. 

Profits at DLF soared 13.7% to ₹1,203.4 crores; Home First Finance's 44% profit increase to ₹140.2 crores; Cyient's profit declined 25% to ₹91.8 crores; and Mphasis' profit increased by 3.4% to ₹442.2 crores.

Key Deals and Updates

The Ashoka Buildcon has received a ₹307.71 crore order from the Daman PWD for a signature bridge.

The Oil and Natural Gas Corporation has taken a 50% stake in two Bharat Ethane JVs with Mitsui. NTPC Green Energy has signed an MoU with Uttar Pradesh for renewables and Green Hydrogen.

Porinju's Equity Intelligence has acquired a 1.23% stake in RK Swamy for ₹6.55 crores. Nippon India has added a 3.8% stake in Landmark Cars for ₹57.4 crores, whereas Goldman Sachs has exited with a 3.32% stake. 

BNP Paribas has acquired a 0.76% stake in Bajaj Consumer Care for ₹28.31 crores. 

Listings, Ex-Dates, and F&O

Armour Security India SME listing, whereas Central Bank of India, DCM Shriram, Havells India, Oberoi Realty, Suraj and Tips Music have listed themselves as ex-dividend.
Jonjua Overseas has listed itself as Ex-Bonus, whereas Galaxy Agrico Exports has listed itself as Ex-Rights. Lastly, Bandhan Bank and Sammaan Capital are now in the F&O ban list.