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MARKETS

Stocks in Focus: Adani Ports, Zee Entertainment, Tata Motors and Others

The mid-cap and small-cap indices performed well with respective rises of 0.8% and 1.1%.

The GIFT Nifty futures were trading in the green before the market’s opening on Tuesday. Indices are expected to open on a similar positive note.

The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) were closed on Monday, January 22, as the Maharashtra Government declared a public holiday for the Ram Mandir consecration ceremony. 

A full trading session was conducted on Saturday, January 20, when domestic benchmark indices, NSE Nifty 50 and S&P BSE Sensex, ended lower. Sensex settled 0.36% or 259.58 points lower at 71,423.65, while Nifty declined by 50.60 points or 0.23% to 21,571.80

Here are some stocks that are likely to remain in focus on January 23.

Tata Motors: The carmaker would raise the price of its passenger vehicles by an average of 0.7% with effect from February 1.  

JSW Group: The State Government of Odisha sanctioned a special incentive package for JSW Group’s proposals with an investment of Rs 40,000 crore to set up electric vehicles and component manufacturing units in Cuttack and Jagatsinghpur districts.

Zee Entertainment Enterprises Ltd (ZEEL): On Monday, the media company received a termination notice from Sony Pictures Networks India for their merger agreement after two years of hectic negotiations, simultaneously seeking a termination fee of $90 million. 

Lemon Tree Hotels: The hospitality company signed a new 61-room property, Keys Select by Lemon Tree Hotels, in Anjar, Gujarat. The property is expected to open in the financial year 2026-27. 

Adani Ports and SEZ: Brokerage firm S&P Global Ratings upgraded its outlook for the ports operator and logistics company from negative to stable and reaffirmed its investment grade rating to ‘BBB-‘. 

Companies announcing their Q3FY24 Results today: Axis Bank, Cyient DLM, Gandhar Oil Refinery (India), Glenmark Life Sciences, Granules India, Havells India, ICRA, Indus Towers, JSW Energy, Karnataka Bank, KEI Industries, L&T Finance Holdings, Mahanagar Gas, Pidilite Industries, Rallis India, REC, Tanla Platforms, Tata Elxsi and United Spirits, among others. 

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