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Stocks in Focus: Adani Ports, Zee Entertainment, HDFC Bank and Others

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The GIFT Nifty futures were trading in the green before the market’s opening on Wednesday. Indices are expected to open on a similar positive note.

Domestic benchmark indices, NSE Nifty 50 and S&P BSE Sensex ended lower on Tuesday, dragged down by index heavyweights amid mixed global cues. Nifty tumbled 333 points or 1.54% to close at 21,238.80, while Sensex lost 1.47% or 1,053 points to settle at 70,370.55.

Here are some stocks that are likely to remain in focus on January 24.

HDFC Bank: After hitting the 10-million mark in 2017, the bank announced on Tuesday that it has 20 million credit cards in force, becoming the first lender in India to achieve the milestone.

AU Small Finance Bank: The Competition Commission of India (CCI) has approved the proposed merger of Fincare Small Finance Bank into itself. The merger is yet to receive a nod from the Reserve Bank of India (RBI).

Lupin: The pharma company has received tentative approval from the US Food and Drugs Administration (USFDA) for its abbreviated new drug application for Rivaroxaban tablets to market in the US. 

Zomato: Swiggy, a competitor of the food aggregator brand, has increased the platform fee for a small set of users from Rs 5 to Rs 10 per order for an experiment to understand consumer choices. The company doesn’t plan to increase platform fees in the near term, though.

ICRA: The board of the commercial banking company approved the proposal to join the Association of Indian Rating Agencies (AIRA) by subscribing to their shares up to 20% of the paid-up share capital of AIRA. 

Bharti Airtel: The telecom company has prepaid Rs 8,325 crore to the Department of Telecom towards partial prepayment of the deferred liabilities pertaining to the spectrum acquired in the 2015 auction.

Companies announcing their Q3FY24 Results today: Aarti Drugs, Bajaj Auto, Bharat Dynamics, Birlasoft, Blue Dart Express, Canara Bank, CARE Ratings, Ceat, CMS Info Systems, Container Corporation of India, Dalmia Bharat, DCB Bank, DLF, Exide Industries, Indian Bank, Indian Oil Corporation, Indian Overseas Bank, JSW Holdings, Laurus Labs, Motilal Oswal Financial Services, PNB Housing Finance, Quick Heal Technologies, Railtel Corporation of India, Tata Steel, Tech Mahindra, TVS Motor Company, UCO Bank and Ujjivan Small Finance Bank, among others. 

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