Top 10 stocks for today – 17th January 2024

17 Jan 2024 , 08:57 AM

Here are some of the stocks that may see significant price movement today.

Adani Energy Solutions: The Adani group company stated that the transmission and smart metering division maintained system availability of 99.67% in Q3 FY24 and added 302 ckms to the operational network during the quarter, bringing the entire network to 20,422 ckms. During the quarter, the segment got contracts for 2 million smart metres totaling Rs 2,300 crore.

L&T Technology Service: The IT business posted a net profit of Rs 336.2 crore for the quarter ended December FY24, up 6.6% from the previous year. During the quarter, revenue from operations climbed by 1.5% sequentially to Rs 2,421.8 crore, with revenue in terms of dollar and constant currency growing by 0.9% quarter on quarter.

HDFC Bank: The country’s largest private sector lender reported a 2.5% sequential increase in net profit to Rs 16,372.54 crore for the quarter ended December FY24, aided by increased bad loan provisions. Net interest income increased by 4% QoQ to Rs 28,471 crore during the quarter.

ICICI Securities: The firm announced a tremendous 66.6% year-on-year increase in standalone profit at Rs 465 crore for the quarter ended December FY24, supported by a strong topline and operating performance. Revenue from operations increased by 50.50% to Rs 1,322.4 crore in the quarter compared to the previous year.

UltraTech Cement: The cement company has established a wholly-owned subsidiary, Letein Valley Cement. The new subsidiary will continue to mine limestone and other raw materials while also manufacturing and selling cement.

Karnataka Bank: Through the Yubi Co.lend platform, the private sector lender and new-age NBFC Clix Capital have formed a strategic digital co-lending agreement. This collaboration is aimed at providing loans to the Indian MSME sector. The arrangement is consistent with the Reserve Bank of India’s criteria for co-lending by banks and NBFCs to priority industries.

Bharat Petroleum Corporation: BPRL International Singapore Pte Ltd (BISPL), an indirect step-down subsidiary of BPCL, made a tender offer for about $120 million of 4.375% senior notes issued with a maturity date of January 18, 2027. This tender offer is for notes issued by BISPL in January 2017 and unconditionally guaranteed by Bharat Petroleum Corporation.

TV18 Broadcast: TV18’s consolidated income fell 5% year on year to Rs 1,676 crore in the December FY24 quarter, although news segment revenue increased by 23% YoY, driven by robust advertising revenue growth across clusters. Subscription income increased by 8% YoY to Rs 529 crore, but film production and distribution revenue plummeted 51% YoY to Rs 103 crore.

Godrej Properties: The Mumbai-based real estate developer has bought an additional about one acre of property lot in Yeshwanthpur, Bengaluru. Through an outright acquisition, the site offers a developable potential of about 1.40 lakh square feet of saleable space for the creation of luxury residential flats.

ICICI Lombard General Insurance: The general insurance company’s net profit climbed by 22.4% year-on-year to Rs 431 crore in the quarter ended December FY24, while gross direct premium income increased by 13.4% to Rs 6,230 crore in the same period. The combined ratio was 103.6% in Q3 FY24, compared to 104.4% in Q3 FY23.

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