Stocks To Watch: Nykaa, ONGC, NTPC, JK Cement, M&M, RIL & More

Hot stocks include Reliance Industries, Bajaj Auto, TVS Motor Company, ONGC, and FSN E-Commerce Ventures are among the top 10 stocks that market observers are likely to be focusing on on Monday, January 8.

Reliance Industries

Reliance has established a state-of-the-art data center in Chennai, which is scheduled to launch next week, in collaboration with US-based Digital Reality and Canada's Brookfield Asset Management. The joint venture has purchased 2.15 acres of land in Mumbai to construct an additional 40-megawatt data center, and it will open a 20-megawatt greenfield data center in Chennai next week. In July of last year, Reliance made an approximately Rs 378 crore investment to join an already-existing joint venture in which US-based real estate investment firm Digital Realty and Brookfield Infrastructure were already participants.

Titan

The company reported a 22% YoY rise in revenue for the quarter that ended on December 30, 2023. The company also disclosed in its exchange filing that during the October-December quarter, it opened over 90 additional stores, bringing its total retail footprint to 2,949 locations. Titan's jewellery segment had a strong 21% rise in its domestic sales in Q3FY24.

Bajaj Auto

The Board of Directors of the company will meet today 8th January to discuss and approve share buyback proposal.

TVS Motor Company

As part of the Tamil Nadu Global Investors Meet 2024 in Chennai, the Company and Guidance, the Nodal Agency of the Tamil Nadu government, signed a Memorandum of Understanding (MoU) on January 7, 2024. With assistance and support from GoTN, the firm plans to invest Rs. 5000 Cr over the course of five years and employ 500 people.

ONGC

ONGC has successfully started producing "First Oil" from the deep-water KG-DWN-98/2 Block, which is located off the coast of the Bay of Bengal. ONGC is finishing Phase 2 with the start of this First Oil from "M-field" on January 7, 2024. The flagship project is on schedule; the last phase is expected to be finished by June 2024, after which a gradual ramp-up will begin to achieve the targeted peak production of 10 MMSCMD of gas and 45,000 bopd of oil from the deep-water KG-DWN-98/2 Block.

Easy Trip Planners

The company incorporated a new subsidiary namely 'EASEMYTRIP INSURANCE BROKER PRIVATE LIMITED' with 60% subscription to the share capital in cash. EaseMyTrip Insurance Broker Private Limited will add a new revenue vertical for the company and enable it to scale up its business for insurance broker and related services, as per a stock exchange filing.

NTPC

The company has received orders of Rs 83,67,63,264 + interest as applicable from the Commissioner, CGST & CX, Patna-II for collection of Service Tax, Interest and penalty for Bihar state.

JK Cement

The company's fully-owned subsidiary JK Maxx Paints Ltd. has invested INR 53.31 crores in the third tranche to purchase the remaining 20% of Acro Paints Ltd.'s equity shares (APL). APL is now a fully owned subsidiary of JK Maxx Paints Ltd, effective immediately, as a result of the current purchase, which saw JK Maxx Paints Ltd acquire 100% of APL's equity share capital.

M&M

Zoomcar, Inc. has notified the company that the merger involving Zoomcar, Inc., Innovative International Acquisition Corp. (IOAC), and other parties has been completed. Zoomcar Holdings, Inc. is the new name of IOAC following the merger. M&M as a CCPS holder of Zoomcar India, will receive 11,77,321 shares (including the earnout shares) on a fully diluted basis, representing 1.04% of Zoomcar Holdings' share capital, subject to any necessary approvals.

Furthermore, as a wholly owned subsidiary of the company, Mahindra Overseas Investment Company (Mauritius) Limited held a stake in Zoomcar, Inc. As a result of the merger, it will hold 2,52,245 shares (including earnout shares), which, when fully diluted, will account for 0.22% of Zoomcar Holdings' share capital.

FSN E-Commerce Ventures

Nykaa's three business sectors have all seen steady development in Q3FY24. It is anticipated that BPC vertical GMV growth will be in the mid-20s and NSV growth will be around 20% YoY for the quarter. Brand-led pricing and discounting, particularly in the mass and masstige categories, are the key causes of the gap between GMV and NSV growth.

Through creative initiatives like "Nykaaland," India's first beauty and lifestyle festival, which was held in Mumbai this year and drew over 15,000+ ticketed attendees, it continues to invest in growing the category by generating demand. For the quarter, Nykaa's BPC growth outpaced industry growth. However, given the favourable macroeconomic and demographic outlook, the company believes that the present industry growth is below its long-term trajectory and should return to the median in the near to mid-term.

It is anticipated that the total NSV of all BPC companies will increase at a rate of low to mid-20% YoY. The industry-level consumption of fashion has not increased as anticipated throughout the festive season and has remained modest. Nykaa Fashion had rapid growth in Q3 FY24, carrying over the previous quarter's pace. With NSV growth predicted to be in the low thirties on a year-on-year basis, fashion vertical GMV growth for the quarter is anticipated to be about forty per cent. The company anticipate YoY growth in the low twenties for revenue and mid-twenties for NSV at a consolidated level for Q3 FY24.