GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Monday. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty was trading 24 points or 0.10% higher at 23,353 indicating a higher start for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 closed the session 95 points or 0.40% lower at 23,431.50, while the BSE Sensex fell 241 points or 0.31% to close at 77,378.91.

Stocks to watch on January 13, 2024

TCS

While we’ve observed early signs of revival, unforeseen geopolitical or macroeconomic factors could disrupt discretionary spending. Samir Seksaria, chief financial officer of TCS said that any proposed changes in H-1B visa norms like raising minimum salaries and levying an annual visa maintenance charge will have minimal impact on TCS.

Adani Group

Gautam Adani met Chhattisgarh Chief Minister Vishnu Deo Sai on Sunday and announced a major investment of Rs 65,000 crore for the state. This investment, aimed at expanding the Adani Group’s energy and cement projects, is expected to drive significant growth in the region.

Avenue Supermarts

Neville Noronha, CEO of Avenue Supermarts for over two decades, has decided to end his tenure with the company. Unilever’s Ansul Asawa will take over as MD & CEO of the company from February next year. 

Avenue Supermarts reported a net profit of Rs 723.72 crore, a growth of 4.79% on year in Q3 FY25 in comparison to Rs 690.61 crore recorded during the corresponding quarter of FY24. It posted a revenue from operations at Rs 15,972.55 crore for the quarter under review. This was 17.68% higher than Rs 13,572.47 crore reported during the third quarter of the previous financial year.

Infosys 

Infosys has escalated its legal battle with Cognizant by filing a counter-lawsuit in a US court. The lawsuit accuses the Nasadq-listed Cognizant and its CEO, Ravi Kumar, of engaging in anti-competitive practices and misusing sensitive information to undermine Infosys Helix, its flagship healthcare platform. 

Signature Global 

Signature Global has purchased a 16.12-acre land in Gurugram for nearly Rs 300 crore to develop a housing project, as it remains bullish on demand for mid-income and premium residential properties. The land is located on Sector 71, Southern Peripheral Road, Gurugram, Haryana.

Macrotech Developers 

Macrotech Developers, which markets properties under the Lodha brand, has acquired a nearly 20-acre land parcel in Bengaluru for the development of a housing project worth Rs 2,800 crore, as part of its expansion plan. Out of the total, nearly 20 acres of land were acquired in Bengaluru, the company has outright purchased some portion of land while entering into a joint development agreement with the landowner for the remaining part, reported PTI citing sources.

Coal India 

Coal India set sights on Argentina as a destination in its strategic diversification into critical minerals, with a focus on lithium brine assets, reported PTI citing an official. Recognising the economic significance and strategic value of minerals like lithium (Li), nickel (Ni), cobalt (Co), and others, the Maharatna company has initiated steps to explore opportunities in key resource-rich nations such as Argentina, Australia and Chile.

Indus Towers

Vodafone has sold its entire stake in Indus Towers for Rs 2,800 crore. Vodafone has sold 7.92 crore or 3% stake in Indus Towers and used Rs 890 crore from the proceeds to clear lenders dues, the company said in a regulatory filing.