SUMMARY

Stocks to watch, ICICI Prudential, Caplin Point, Bajaj Finserv, Manappuram Finance, Ashoka Buildcon, NESCO, SH Kelkar, Nuvoco Vistas, Akzo Nobel, Power Grid, IndiGo, ICICI Securities, Bharti Airtel, Coal India, Vodafone Idea and more, these are the stocks to watch for today.

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ICICI Prudential | Private insurer said it has received an order under Section 107 of the Goods and Services Tax (GST) Act, 2017, from the Commissioner (Appeals) on January 6, 2025, which upholds the total tax demand for the period FY2019 to FY2021. This follows an earlier order issued by the Additional Commissioner of Tamil Nadu, which ICICI Prudential had challenged through an appeal. The company had filed the appeal within the prescribed timelines, seeking a review of the initial ruling.

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Caplin Point | Drug firm announced that it has received the Establishment Inspection Report (EIR) from the US Food and Drug Administration (FDA) following an visit at its Caplin Steriles’ injectable and ophthalmic manufacturing facility in Gummidipoondi, Tamil Nadu. The unannounced inspection, conducted between August 5-9, 2024, concluded with zero 483 observations. This outcome follows Caplin Point’s prior intimation to the stock exchanges on August 9, 2024, regarding the completion of the inspection.

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Bajaj Finserv | Bajaj Allianz General Insurance reported gross direct premium of ₹1,330.9 crore for the month of December 2024, bringing its total gross direct premium underwritten for the year to ₹17,112.4 crore. For December 2024, Bajaj Allianz Life Insurance’s individual single premiums reached ₹39.21 crore, while total individual non-single premiums amounted to ₹648.28 crore. On a year-to-date (YTD) basis, individual single premiums stood at ₹492.52 crore, and individual non-single premiums totalled ₹4,688.72 crore for the period from April to December 2024.

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Manappuram Finance | Gold lender reported an incident of ‘daylight robbery’ at its Sambalpur branch in Odisha, resulting in an estimated loss of ₹20 crore. “On January 3, 2024, at approximately 09:45 a.m., an unfortunate incident of daylight robbery occurred at one of the branches of Manappuram Finance Limited; functioning at Sambalpur in Odisha (Branch ID: 2624), resulting in the loss of gold jewellery and cash from the strongroom,” the company said in a statement to the stock exchanges.

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Ashoka Buildcon | Construction engineering company said its wholly-owned subsidiary Ashoka Bowaichandi Guskara Road Private Ltd, has executed a concession agreement with the National Highways Authority of India (NHAI) for the development of a four-lane economic corridor in West Bengal. The project, which involves the construction of the Bowaichandi to Guskara-Katwa Road Section on NH 116A, is valued at ₹1,391 crore and will be executed under the hybrid annuity mode.

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NESCO | Mumbai-headquartered company announced that it has been declared the highest bidder by National Highways Logistics Management Limited (NHLML) for the development, operation, and maintenance of wayside amenities in the south zone along the Bengaluru-Chennai Expressway Corridor (Phase II). NESCO received official communication confirming the allotment of this tender was received by Nesco on January 6, 2025, at 1:16 PM.

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SH Kelkar | Fragrance maker reported a 17% year-on-year (YoY) growth in consolidated revenues for the first nine months of FY2025, reaching ₹1,548 crore. Despite a challenging external environment, the company’s core European market performed steadily, and demand across key segments remained resilient. SH Kelkar is on track to achieve double-digit growth for the full financial year. Gross margins faced pressure during the quarter, primarily due to supply constraints for strategic raw materials.

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Nuvoco Vistas | The building materials division of the Nirma Group said it has emerged as the successful resolution applicant (SRA) in the corporate insolvency resolution process (CIRP) of Vadraj Cement Ltd (VCL). The Committee of Creditors (CoC) has approved the resolution plan submitted by Nuvoco Vistas and a letter of intent (LOI) has been issued, confirming Nuvoco Vistas as the selected bidder for Vadraj Cement’s assets.

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Akzo Nobel | Paints and coatings maker said its parent entity, Akzo Nobel NV (ANNV), has proposed a strategic evaluation of its powder coatings business and international research centre (R&D operations). The proposal involves the potential sale of these assets to an indirect wholly-owned subsidiary of ANNV. Additionally, the proposal includes Akzo Nobel India potentially acquiring the decorative paints’ intellectual property owned by ANNV.

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Power Grid | State-owned electric utility company has been named the successful bidder under the Tariff Based Competitive Bidding (TBCB) process for two significant projects aimed at enhancing India’s Inter-State Transmission System, the company announced on Monday. The projects, to be executed under the Build, Own, Operate, and Transfer (BOOT) model, involve key upgrades to substations in Gujarat and Karnataka.

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Bharti Airtel | The company announced its decision to sell its entire 50% stake in Firefly Networks to iBus Network and Infrastructure through a Share Purchase Agreement signed on January 6, 2025. The deal, valued at ₹45 million, is expected to close within 30 business days, subject to the fulfilment of closing conditions. Firefly Networks, a joint venture between Bharti Airtel and Vodafone Idea, contributed a negligible 0.0065% to Airtel’s consolidated turnover and 0.0007% to its net worth in FY24. Following the sale, Firefly will no longer be a joint venture of Bharti Airtel.

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Coal India | State-owned company has entered into a strategic partnership with IREL (India) Ltd, a public sector undertaking under the Department of Atomic Energy. The two companies signed a Non-Binding Memorandum of Understanding (MoU) on Monday, January 6, to develop critical minerals in India. The collaboration aims to strengthen India’s capabilities in mining, extraction, refining, and sourcing critical minerals such as mineral sands and rare earth elements (REE). These resources are vital for various industries, including electronics, renewable energy, and defence.

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Vodafone Idea | Debt-ridden telecom operator announced the sale of its entire 50% stake in Firefly Networks Ltd, a joint venture with Bharti Airtel Ltd, to iBUS Network and Infrastructure Private Ltd. The transaction, valued at ₹4.5 crore, is subject to closing conditions and is expected to be completed within approximately 30 business days.

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IndiGo | The country’s largest airline said it has received an order from the Principal Commissioner of Customs, Air Cargo Complex (Import), imposing a penalty of ₹2.17 crore. The penalty arises from the customs authority’s denial of duty exemption on the import of aircraft parts. The company disclosed that it received the order on January 4, 2025, at its Gurgaon corporate office, a non-working day. Consequently, the disclosure was filed on the first working day, January 6, 2025.

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ICICI Securities | Brokerage firm settled a case pertaining to the alleged violation of stock brokers rules with capital markets regulator Sebi, after paying ₹40.2 lakh towards settlement charges. The order came after ICICI Securities proposed to settle the matter without “admitting or denying the facts and conclusions of law”, through a settlement order.