GIFT Nifty trends signals suggest a pessimistic start for the composite index in India, indicating a decline of 43.50 points or 0.20 per cent. Nifty futures are currently hovering around the level of 21,406 in trade.

The Indian market witnessed its biggest one-day fall in 18 months on January 17 due to HDFC Bank’s disappointing performance in the third quarter. This led to a slowdown in the banking sector, leading to volatility in equity benchmarks, which was further exacerbated by adverse global cues.

Here are several stocks that will be in focus today, January 18;

HDFC bank: On January 18, the focus will be on equity stocks, especially HDFC Bank’s American Depositary Receipts (ADRs), which closed 9 per cent lower at $55.59 on the NYSE on January 17. The decline came after a generally negative assessment by most analysts. The private sector lender’s weak financial results for the quarter ended December FY24.

In its report on Tuesday, HDFC Bank disclosed a 2.65 per cent rise in consolidated net profit for the October-December period to Rs 17,258 crore, compared to Rs 16,811 crore in the previous September quarter.

Bharat Electronics: On Wednesday, the aerospace and defense PSU announced winning two orders totaling Rs 1034.31 crore. Cumulative orders for FY24 now stand at Rs 27,647.31 crore.

NHPC: The government plans to sell 3.5 per cent stake in the power company through offer-for-sale (OFS), with a minimum price of Rs 66 per share. The OFS comprises a base issue size of 2.5 per cent and a green shoe option of 1 per cent. Non-retail investors can participate in the OFS starting January 18, while retail investors will have the opportunity to do so from January 19.

Asian Paints: It disclosed a consolidated net profit of Rs 1,447.98 crore for the December quarter, up 35% from Rs 1,072.67 crore reported a year ago. The growth was attributed to decline in raw material prices and expansion in the luxury product segment. The company saw a 5.4% growth in revenue for the quarter, reaching Rs 9,074.9 crore, mainly due to double-digit growth in the industrial business and a prolonged festive season.

Mahindra & Mahindra: Mahindra Aerostructures (MASPL), a subsidiary, and Airbus Aerostructures GmbH have agreed to produce and supply metal components for all Airbus commercial aircraft models, including the popular A320 family. As per the terms of the contract, MASPL will supply around 5,000 metal components to Airbus in Germany, which will be sourced from its manufacturing facility in India.

IIFL Finance: The company reported a 17.2 per cent year-on-year decline in standalone profit for the quarter ended December FY24 at Rs 131.65 crore. This decline was partially impacted by higher net loss on fair value changes, net loss on derecognition of financial instruments and impairment on financial instruments. Despite this, revenue from operations witnessed a significant growth of 17.65 per cent year-on-year, reaching Rs 1,158.7 crore in Q3FY24.

RailTel Corporation of India: The government-owned Railway Corporation has been awarded a work order worth Rs 82.4 crore from South Central Railways.

LTIMindTree: The corporation achieved 0.6 per cent quarter-on-quarter growth in net profit to Rs 1,169.3 crore for the quarter ended December FY24, mainly due to weak performance in operating margins. Revenue from operations grew 1.2 per cent quarter-on-quarter to Rs 9,016.6 crore in Q3FY24. In comparison, revenues in dollar terms also saw 0.8 per cent sequential growth at $1,083.7 million for the quarter.

ICICI Prudential Life Insurance Company: The life insurance firm reported 3.1 per cent year-on-year growth in net profit at Rs 227.47 crore for the quarter ended December FY24.

Avenue Supermarts: This supermarket chain is a defensive play and could be a good option if the market falls.

Nazara Technologies: This gaming company has recently raised funds through preferential allotment, which may increase its share price.

Innova Captab Ltd: The pharmaceutical company is expected to release its Q3FY2024 results today, so its performance is worth keeping an eye on.

IndusInd Bank: This bank is also releasing its quarterly results today, making it a stock worth watching.

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