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Stocks in Focus: Avenue Supermarts, Nazara Technologies, Adani Enterprises and Others

The Sensex fell 494.75 points to close at 81,006.61, while the Nifty dropped 221.45 points to 24,749.85.

The GIFT Nifty futures were trading in the red before the market’s opening on Thursday. Indices are expected to open on a similar negative note.

Domestic benchmark indices, NSE Nifty 50 and S&P BSE Sensex, saw their biggest single-day drop in more than one and a half years on Wednesday. Nifty plunged 460.35 points or 2.09% to settle at 21,571.95, while Sensex tanked 1,628.01 points or 2.23% to 71,500.76.

Here are some stocks that are likely to remain in focus on January 17.

Adani Enterprises: The Gautam Adani-led company has entered into a Memorandum of Understanding (MoU) with the state government of Maharashtra for the establishment of a 1-gigawatt hyperscale data centre valued at Rs 50,000 crore over the next decade.

NHPC: The government of India will divest up to a 3.5% stake in the power and utility company through an offer for sale (OFS) at a floor price of Rs 66 per share on January 18 and 19, aggregating to Rs Rs 2,300 crore to the exchequer.

Zaggle Prepaid Ocean Services: The software company has secured a Rs 200 crore contract from Torrent Gas for implementing a close-loop fleet programme.

Nazara Technologies: The mobile gaming company plans to raise up to Rs 250 crore through a preferential issue of shares at Rs 872.15 apiece. Moreover, Nazara Technologies has also acquired a 10.77% stake in Kofluence Tech Pvt for Rs 32.41 crore.

InterGlobe Aviation: The Bureau of Civil Aviation Security has imposed a fine of Rs 1.2 crore on the Airline for violating aviation security norms by letting its passengers sit and eat on Mumbai airport’s tarmac.

Honasa Consumer: The personal care products company inaugurated the 100th Exclusive Brand Outlet of its flagship brand, Mamaearth, in Mumbai’s R-City Mall.

Avenue Supermarts: The parent company of D-Mart opened two new stores in Tirupur, Tamil Nadu and Sehore, Madhya Pradesh, on Wednesday, bringing the total number of stores to 344.

Companies announcing their Q3FY24 Results today: Finolex Industries, IndiaMART InterMESH, IndusInd Bank, Jindal Stainless, Mastek, Metro Brands, Polycab India, Poonawalla Fincorp, Ramkrishna Forgings, Shoppers Stop, South Indian Bank, Sterling and Wilson Renewable Energy and Tata Communications, among others. 

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