Indian Stocks Watch: Avenue Supermarts, Vedanta, NTPC Among Key Movers
Overview
A mix of corporate earnings, strategic investments, and operational updates will shape trading today, January 12. Avenue Supermarts reported robust Q3 profit growth, while Phoenix Mills saw a 20% rise in retail consumption. IREDA posted significant profit spikes. Lemon Tree Hotels is set for a major investment and potential subsidiary listing. NTPC acquires a thermal power asset, expanding its capacity.
Stocks Mentioned
Key Companies in Focus on January 12
Trading on January 12 will see heightened activity around several prominent Indian companies. Updates ranging from quarterly financial results to significant corporate actions are set to influence investor sentiment.
Avenue Supermarts, the operator of DMart stores, posted an 18.3% year-on-year profit jump to ₹855.9 crore for its third quarter. Revenue climbed 13.3% to ₹18,100.88 crore. The company also announced the appointment of Anshul Asawa as its new Chief Executive Officer.
Real Estate Sector Updates
Phoenix Mills reported a 20% rise in retail consumption in its portfolio, reaching ₹4,787 crore for Q3, driven by strong operational execution during the festive season. Separately, Signature Global's Q3 pre-sales saw a 27% decline to ₹2,020 crore YoY. Ashiana Housing's area booked fell 17.9% to 5.56 lakh sq ft, with value of sales dropping 11.7% to ₹401.07 crore. Embassy Development, however, saw pre-sales zoom to ₹1,392 crore quarter-on-quarter.
