Several stocks including HDFC Bank, ONGC, Hindustan Unilever, Ather Energy and Netweb Technologies are expected to remain in focus in the trading session amid quarterly earnings announcements, block deals and stake changes.
Quarterly Results Scheduled
Several major companies are set to announce their October–December quarterly results today. These include Hindustan Unilever, Oil and Natural Gas Corporation (ONGC), Coal India, Lupin, Hindalco Industries, Honasa Consumer, Abbott India, Bajaj Hindusthan Sugar, Bharat Forge, Biocon, CRISIL, Endurance Technologies, Engineers India, Entero Healthcare Solutions, Hindustan Aeronautics (HAL), Indraprastha Gas, Indian Hotels Company, Indian Railway Catering and Tourism Corporation (IRCTC), Muthoot Finance, Natco Pharma, Petronet LNG, Rashtriya Chemicals and Fertilizers (RCF), SpiceJet, TVS Electronics, Welspun Living and Zaggle Prepaid Ocean Services.
The performance of these companies may influence both sectoral and broader market activity during the session.
Potential Block Deal in Netweb Technologies
Promoters of Netweb Technologies may sell approximately 3 percent stake through a block deal. The potential transaction size is estimated at Rs 514.5 crore, with a likely floor price of Rs 3,027 per share.
Federal Bank Stake Approval
The Reserve Bank of India has approved ICICI Prudential Asset Management Company and other entities of the ICICI Bank group to acquire up to 9.95 percent stake in Federal Bank.
Ather Energy Stake Sale
The Government of India and National Investment and Infrastructure Fund-II have fully exited their 1.92 percent stake in Ather Energy. A total of 73.33 lakh shares were sold at Rs 710 per share, raising approximately Rs 330.6 crore.
The stake was acquired by 11 domestic and global investors, including ICICI Prudential Mutual Fund, Tata Mutual Fund, Morgan Stanley Asia Singapore, Aditya Birla Sun Life MF, WhiteOak Capital, Goldman Sachs Bank Europe, Abu Dhabi Investment Authority and other institutional investors.
Sterlite Technologies Stake Sale
TIAA CREF Emerging Markets Equity Index Fund has sold 1.78 percent stake in Sterlite Technologies. A total of 87.3 lakh shares were sold at Rs 144.81 per share, amounting to approximately Rs 126.4 crore.
Kernex Microsystems Order Win
Kernex Microsystems India has received an order worth Rs 411.17 crore from Banaras Locomotive Works. The company will supply, install, test and commission 505 units of the onboard KAVACH system.
KAVACH is an indigenous train collision avoidance system developed for Indian Railways to enhance rail safety.
HDFC Bank Stake Increase Approval
HDFC Bank informed in a regulatory filing that the Reserve Bank of India has approved ICICI Prudential Asset Management Company and other entities of the ICICI group to increase their stake in the bank up to 9.95 percent.
As of February 6, various entities of the ICICI group collectively held 4.07 percent stake in HDFC Bank. The approval granted by the Reserve Bank of India will remain valid for one year. The group must ensure that its total shareholding does not exceed 9.95 percent at any time.
HDFC Bank is the largest bank in India with a market capitalisation of approximately $157 billion.
