Top 10 stocks for today – 19th January 2024

19 Jan 2024 , 08:57 AM

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

Wipro: The IT services business has inked a formal agreement to pay Rs 3.17 crore for a 14% ownership stake in Huoban Energy 11. The agreement would enable Wipro to increase the percentage of renewable energy used in its Maharashtra offices. The acquisition is likely to close before March 2024.

Hindustan Unilever: The FMCG company has signed agreement to acquire a 27.73% ownership in Transition Sustainable Energy Services One, an SPV (special purpose entity). On December 1, last year, the board authorised a proposal to engage into an agreement to acquire renewable electricity by purchasing a stake in Transition Sustainable Energy Services One.

Tata Consultancy Services: The country’s largest IT company’s shares will trade ex-dividend beginning January 19. On January 11, the firm announced an interim dividend of Rs 9 and a special dividend of Rs 18 per share for the current fiscal year.

NHPC: On January 19, the firm has chosen to execute the oversubscription option for up to 10,04,50,348 equity shares (representing a 1% ownership), in addition to 25,11,25,870 equity shares (representing 2.50% of paid-up equity), the base offer size. As a result, the overall offer size will be 35,15,76,218 equity shares, representing 3.50% stake in the firm.

IndusInd Bank: The private sector lender announced slightly higher-than-expected results for the quarter ended December FY24, with standalone net profit up 17.3% year-on-year to Rs 2,297.9 crore and net interest income up 17.8% to Rs 5,295.6 crore.

Shoppers Stop: The department store chain’s overall net profit fell 41.3% year-on-year to Rs 36.85 crore in the quarter ended December FY24, owing to weak operational statistics and decreased other income. In the third quarter of fiscal year 24, revenue from operations climbed 8.8% year-on-year to Rs 1,237.5 crore.

Indian Bank: The public sector lender has got clearance from the Reserve Bank of India (RBI) to establish a new fully owned operations support subsidiary.

Metro Brands: Footwear retailer’s overall net profit fell 12.6% year-on-year to Rs 97.81 crore in the quarter ended December FY24, owing to negative operating margin performance. When compared to the previous year, revenue from operations increased by 6.1% to Rs 635.5 crore.

Lupin: The pharmaceutical company has got permission from the United States Food and Drug Administration (US FDA) for its abbreviated new drug application for Febuxostat tablets to be launched in the US. Febuxostat is the generic version of Takeda Pharmaceuticals USA, Inc.’s Uloric tablets.

Finolex Industries: Despite a sluggish topline bolstered by excellent operational statistics, the Pune-based producer of PVC pipes and fittings increased consolidated net profit by 20% year-on-year to Rs 95.4 crore in the quarter ended December FY24. Revenue from operations declined 9.3% year-on-year to Rs 1,019.7 crore in the quarter.

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