HDFC Bank, ITC, Kotak Mahindra Bank, Vedanta, and more; Top stocks to watch on January 6

As trading resumes on Monday, January 6, here’s a roundup of the top stocks to keep an eye on:

HDFC Bank

The private sector lender released its quarterly business update for the three months ending December 2024. Key highlights include:

Gross Advances: Up 3% year-on-year.

Deposits: A 15.8% increase YoY.

CASA Deposits: Declined 4.4% compared to the same period last year.

ITC

Monday marks the record date for the demerger of ITC Hotels. This restructuring will see ITC retain a 40% stake in its hotel business, while the remaining 60% will be held directly by shareholders. As part of the arrangement, shareholders will receive one ITC Hotels share for every 10 ITC shares they hold.

Kotak Mahindra Bank

The bank announced the resignation of Milind Nagnur, its Chief Technology Officer (CTO) and Chief Operating Officer (COO). His resignation will take effect after business hours on February 15, 2025.

ICICI Bank

ICICI Bank has received a demand and penalty order amounting to ₹100.76 crore from the Maharashtra GST Department. The order, issued on January 3, 2025, includes:

₹50.38 crore as GST demand.

₹50.38 crore as a penalty, related to alleged tax discrepancies.

Bajaj Finance

The NBFC reported robust growth in its business update for Q3 FY25:

Assets Under Management (AUM): Increased 28% YoY to ₹3.98 lakh crore as of December 31, 2024.

Deposit Book: Grew 19% YoY.

AUM saw a quarterly increase of approximately ₹24,100 crore.

Vedanta

Vedanta showcased stable operational performance in Q3 FY25:

Aluminium Production: Increased 3% YoY to 614 kt.

Mined Metal Output: Also grew 3% YoY.

The company achieved a record nine-month mined metal production during the period.

Premier Explosives

A tragic fire broke out on January 4 at the company’s Telangana facility, causing damage to equipment and infrastructure in one of its pyro technique manufacturing units.

Casualties: One fatality and one individual critically injured, currently undergoing treatment in Hyderabad.

NTPC Green

NTPC Renewable Energy Ltd., a subsidiary of NTPC, secured a capacity of 1,000 MW during an e-reverse auction conducted by Uttar Pradesh Power Corporation Ltd. (UPPCL). The winning bid was at a tariff of ₹2.56 per kWh, with a Letter of Award (LOA) expected soon.

Andhra Paper

Operations at the company’s Rajahmundry plant in Andhra Pradesh have been disrupted due to a workers’ strike organized by trade unions.

UCO Bank

The state-run bank reported strong performance for Q3 FY25:

Total Advances: Up 16.2% YoY.

Total Deposits: Grew 9.37% YoY as of December 31, 2024.

Domestic Advances: Rose 18.83% YoY.

Quess Corp

The business services provider received an income tax refund of ₹124.80 crore, including interest, for the financial year 2023-24.

These developments are likely to influence market sentiment as trading kicks off for the week.