Stocks to watch out for today: Grasim Industries, Macrotech Developers, Coforge, Sobha and more

The domestic equity market closed higher on Thursday. Sensex rose 491 points to end the session at 71,847 and Nifty gained 141 points to settle at 21,658.

Here’s a look at stocks to watch out for today.

Grasim Industries

The Aditya Birla Group company has received nod from its Board of Directors for the rights issue worth Rs 3,999.80 crore. The company fixed the issue price at Rs 1,812 per share. The rights issue will open between January 17 and January 29, 2024. The record date for the issue has been fixed as January 10.

Macrotech Developers

Shares of Macrotech Developers Ltd (Lodha) are in news today after the real estate developer said its pre-sales at Rs 3,410 crore was its best ever December quarter performance. Pre-sales grew 12 per cent on a year-on-year (YoY) basis, Lodha said.

Coforge

Shares of Coforge are in news after Ajay Kalra relinquished the position as the Chief Financial Officer (CFO) of the IT firm, citing pre-occupation and other personal commitments. The resignation came ahead of the IT firm's Q3 results on January 22.

Kalyan Jewellers

Shares of Kalyan Jewellers are in focus after the jewellery maker said it saw a continued robust momentum in both footfalls and revenue across its markets in India and the Middle East in the quarter gone by. Kalyan Jewellers said it achieved positive operating performance despite multiple headwinds during the quarter, such as extreme volatility in gold prices, a higher number of “Shradh” days compared to the prior year and flash floods in certain parts of Tamil Nadu which affected retail sales for almost a week.

RBL Bank

Shares of RBL Bank Ltd will be in focus on Friday morning after the private bank said its advances for the December quarter grew 20 per cent provisionally to Rs 81,870 crore compared with Rs 68,363 crore in the same quarter last year. The lender said its deposits were up 13 per cent YoY at Rs 92,743 crore for the quarter compared with Rs 81,746 crore in the same quarter last year. RBL Bank said its retail advances grew 32 per cent YoY while wholesale advances grew 6 per cent YoY for the quarter ended December 31, 2023.

Power Finance Corporation

The state-owned power projects financing company has raised its market borrowing program to Rs 1.05 lakh crore from Rs 80,000 crore for the current financial year 2023–24.

Jammu & Kashmir Bank

The lender has logged gross advances for the December FY24 quarter at Rs 93,626.5 crore, a 14.13 percent rise over a year-ago period. Total business volumes climbed 11.8 percent YoY to Rs 2,18,650 crore, while total deposits rose 9 percent YoY to Rs 1,28,544 crore. CASA deposits for the quarter rose by 2.68 percent year over year to Rs 65,035 crore.

Torrent Pharmaceuticals

The pharma company has incorporated a subsidiary, Farmaceutica Torrent Colombia SAS, in Colombia for 429 crore Colombian pesos.

Sobha

Foreign investor Dendana Investments Mauritius has bought 5,09,500 equity shares at an average price of Rs 1,269.57 per share. The shares were valued at Rs 64.68 crore. The south-based real estate developer logged a 37 percent on-year rise in total sales value at Rs 1,951.6 crore, with Sobha's share at Rs 1,735.5 crore.

Syrma SGS Technology

The company has incorporated a wholly owned subsidiary, Syrma Mobility. The new company will do the business of designers, manufacturers, and assemblers of memory chips, memory modules, PCB assemblies, and other storage products.

Kay Cee Energy & Infra

The EPC company will list its shares on the NSE Emerge on January 5. The issue price has been fixed at Rs. 54 per share. Its equity shares will be available for trading in the trade-for-trade segment.

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