Stock market today: The Indian stock market is likely to open flat to slightly lower on Wednesday, January 7, mirroring mixed signals from Asian peers.
Early indications from Gift Nifty pointed to a subdued start, with GIFT Nifty trading at 26,214.5, down 67 points or 0.25% compared with the previous Nifty futures close.
On Tuesday, January 6, the Sensex and Nifty 50 extended their losing streak for a second straight session as profit-booking pressured markets despite supportive global cues.
The Sensex slid over 500 points, or more than 0.60%, to an intraday low of 84,900.10, while the Nifty 50 fell 0.50% to touch 26,124.75. Both indices recovered part of the losses by the end of the session, with the Sensex closing 376 points, or 0.44%, lower at 85,063.34, and the Nifty 50 settling 72 points, or 0.27%, down at 26,178.70.
Stocks to watch
Against this backdrop, here’s a list of stocks that may attract investor interest and are likely to experience some movement today.
Titan
Tata Group’s company Titan posted a 40% year-on-year growth in the quarter ended December. The international business surged 79% YoY, while the domestic operations recorded a 38% increase compared with the same quarter last year. Strong Q3 business update is likely to attract investors on D-Street.
Biocon
Biocon announced that its subsidiary, Biocon Biologics, plans to launch three new oncology biosimilars to bolster its cancer treatment lineup. With these additions, Biocon Biologics will offer one of the industry’s most extensive oncology portfolios.
Tata Capital
The company’s three-month shareholder lock-in period will expire on Wednesday, January 7, allowing about 71.2 million shares—roughly 2% of its outstanding equity—to become available for trading.
M&M
Mahindra has introduced the XUV 3XO EV, strengthening its electric vehicle lineup with a feature-packed electric SUV designed for urban use.
Pidilite Industries
Pidilite Ventures, the company’s wholly owned subsidiary, has divested its entire stake in Pepperfry by transferring the shares to TCC Concept under a 100% share-swap arrangement, as part of TCC’s acquisition of Pepperfry.
Meesho
The e-commerce company will witness the conclusion of a one-month shareholder lock-in on Wednesday, January 7, as 109.9 million shares, roughly 2% of its total equity, become tradable, according to Nuvama Alternative & Quantitative Research.
Indian Energy Exchange
IEX said that the Electricity Appellate Tribunal (APTEL) has not issued any order or directive regarding market coupling by the Central Electricity Regulatory Commission (CERC), despite its shares surging up to 13%.
Lodha Developers
Realty company Lodha Developers reported on Tuesday a 25% rise in sales bookings for the quarter ending December, reaching ₹5,620 crore, fueled by robust demand for its residential properties.
Godrej Consumer Projects
The company noted a steady recovery in domestic demand in the third quarter and expressed confidence that consumption will rebound, aided by easing inflation and reduced GST rates.
IRB Infra
IRB Infrastructure Trust, a subsidiary of IRB Infrastructure Developers, announced on Tuesday that it has been awarded a toll road project in Odisha by the National Highways Authority of India.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
