Stocks in Focus: Last week the stock market closed with gains. During this period, the 30-share BSE Sensex rose 524.04 points or 0.66 percent. At the same time, a rise of 191.35 points or 0.80 percent was seen in the Nifty of the National Stock Exchange. Now on January 6, the first trading day of the week, many stocks are going to be in focus. Due to recent news, action can be seen in these shares. This list includes big stocks like HDFC Bank, ITC, Kotak Mahindra Bank and Vedanta. Let us know what is the reason for this rise.
HDFC Bank, the largest private sector bank, on Friday announced its business update for the three-month period ending December 2024. The bank’s gross advances increased by 3 percent on an annual basis. At the same time, its deposits have increased by 15.8 percent. However, CASA deposits declined by 4.4 per cent compared to the year-ago period.
January 6 has been set as the record date for the demerger of ITC Hotels. Under this restructuring, ITC company will retain 40 percent stake in its hotel business, while the remaining 60 percent stake will be given directly to the shareholders, which will be through rights entitlements. Shareholders will receive 1 ITC Hotels share for every 10 ITC shares held. This means that investors who hold ITC shares will also own stakes in ITC Hotels.
Milind Nagnoor, Chief Technology Officer (CTO) and Chief Operating Officer (COO) of Kotak Mahindra Bank, has resigned. The bank announced this on Friday. This resignation will be effective as of the close of business hours on February 15, 2025.
Maharashtra GST Department has issued a demand and penalty order of ₹100.76 crore to ICICI Bank. This includes ₹50.38 crore GST demand and an equal amount as penalty. This order issued on January 3, 2025 relates to alleged tax irregularities.
NBFCs on Saturday released their business updates for the October-December quarter. The company’s assets under management (AUM) grew 28% year-on-year to ₹3.98 lakh crore by December 31, 2024. AUM increased by about ₹24,100 crore in the third quarter of the current financial year. Deposit book grew by 19% year-on-year.
The mining company reported stable operational performance in 3QFY25. Aluminum production increased by 3% year-on-year to 614 kt, while mined metal output also increased by 3% year-on-year. The company achieved nine months of record high mined metal production during the quarter.
On Saturday, January 4, a fire broke out in the company’s factory in Telangana. The fire damaged buildings and equipment at one of the pyro technology manufacturing facilities. One person lost his life in this incident and another person was seriously injured, who has been admitted to a hospital in Hyderabad for treatment.
NTPC Renewable Energy Limited has emerged as the successful bidder in the e-reverse auction conducted by Uttar Pradesh Power Corporation Limited (UPPCL). NTPC REL has acquired capacity of 1000 MW at the rate of ₹2.56/kWh. Letter of Award (LOA) from UPPCL is awaited.
The paper company has reported disruption in operations at its manufacturing plant in Rajahmundry in East Godavari, Andhra Pradesh, due to the strike initiated by labor trade unions.
The public sector bank reported a strong performance in the third quarter of FY25, with total advances growing by 16.2 per cent year-on-year. The total deposit amount of the bank till December 31, 2024 increased by 9.37% on an annual basis. UCO Bank also reported improvement in its domestic advances, which grew by 18.83% compared to the same period last year.
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