Top 10 stocks for today – 18th January 2024

18 Jan 2024 , 09:02 AM

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

1. Mahindra and Mahindra: Mahindra Aerostructures (MASPL), a subsidiary, has entered into an agreement with Airbus Aerostructures GmbH for the production and supply of metallic components for various Airbus commercial aircraft models, encompassing the widely popular A320 family.
2. HDFC Bank: On January 18, there will be heightened attention on the equity shares, particularly HDFC Bank, as its American Depository Receipts (ADRs) experienced a significant decline, closing sharply lower by 9 percent at $55.59 on the New York Stock Exchange (NYSE) on January 17.
3. NHPC: The Indian government is set to divest a 3.5 percent stake in the power company through an offer-for-sale (OFS), setting a floor price of Rs 66 per share. The OFS includes a base issue size of 2.5 percent, along with a green shoe option of 1 percent. Non-retail investors will have access to the OFS starting January 18, while retail investors can participate from January 19.
4. ICICI Pru Life Insurance: In the quarter ending December FY24, the life insurance company disclosed a 3.1 percent year-on-year growth in net profit, reaching Rs 227.47 crore. Net premium income also saw a 4.9 percent increase year-on-year, reaching Rs 9,928.8 crore, while net commission experienced a substantial surge of 156 percent to Rs 1,001.7 crore compared to the corresponding period in the previous year.
5. RailTel: The state-owned railway company has secured a work order valued at Rs 82.4 crore from South Central Railway. The scope of the work order encompasses comprehensive ground infrastructure activities to facilitate the implementation of 4G LTE-R across 523 RKM (Route Kilometers) in the Secunderabad division of South Central Railway.
6. Cochin Shipyard: The company has inaugurated a new dry dock and the International Ship Repair Facility (ISRF) in Kochi. The newly established dry dock, with a total cost of Rs 1,799 crore, is situated within the existing premises of Cochin Shipyard in Kochi.
7. LTIMindtree: The technology consulting and digital solutions company recorded a 0.6 percent quarter-on-quarter (QoQ) growth in net profit, reaching Rs 1,169.3 crore for the quarter ending December FY24. This modest growth was attributed to a weakened operating margin performance during the period.
8. Nazara Technologies: The gaming and sports media platform announced that its board has granted approval for a preferential allotment of equity shares to raise funds, with the potential to garner up to Rs 250 crore.
9. Som Distilleries and Breweries: The alcoholic beverage manufacturer has reported a robust 71 percent year-on-year growth in consolidated profit, amounting to Rs 18 crore for the October-December quarter of FY24. This substantial increase is attributed to a strong performance in both topline and operating aspects of the business.
10. Persistent Systems: The IT services company based in Pune has announced that the board will contemplate a proposal for an alteration in the share capital of the company through the sub-division or split of the existing equity shares, each having a face value of Rs 10. The discussion on this matter is scheduled to take place on January 19–20.