Mumbai, January 6: The domestic stock market witnessed a sharp decline on Friday, January 3, as both benchmark indices closed in the red due to profit booking and a strengthening US dollar. The Nifty 50 index dropped 0.76% to 24,004.75, while the BSE Sensex fell 0.90%, closing at 79,223.11 points. Despite the downturn in share market, experts maintain a cautiously optimistic outlook, with Nifty sustaining above the crucial 24,000 level and key support at 23,900. For investors looking for stocks to buy or sell on Monday, January 6, 2025, here are some shares that may remain in focus.

Today, January 6, stocks such as HDFC Bank (NSE: HDFCBank), ITC (NSE: ITC), Kotak Mahindra Bank (NSE: KotakBank) etc, may remain in the spotlight during trading throughout the day, according to reports by CNBC and Mint. IPO Time Table: Second Week of New Year 2025 Set To Be Busy As 7 Public Issues To Hit Dalal Street, 6 Listings on Investors’ Radar; Check Key Details.

Stocks To Buy on January 6, 2025

  • South Indian Bank Ltd. (NSE: SouthBank)

• Buy at INR 26.96

• Target: INR 29

• Stop Loss: INR 26

  • Lloyds Engineering Works Ltd. (NSE: LloydsEngg)

• Buy at INR 85.29

• Target: INR 92

• Stop Loss: INR 82

  • Paramount Communications Ltd. (NSE: Paracables)

• Buy at INR 85.10

• Target: INR 91

• Stop Loss: INR 82.50

Shares To Buy on January 6, 2025

  • HDFC Bank (NSE: HDFCBank) reported a 3% YoY rise in gross advances and a 15.8% increase in deposits for Q4 2024. However, CASA deposits declined 4.4%. India IPO Surge: Record-Breaking IPO Fundraising Expected To Surpass INR 2 Lakh Crore in 2025. 

  • ITC (NSE: ITC) announced January 6 as the record date for its hotel demerger, with shareholders receiving 1 ITC Hotels share for every 10 ITC shares owned.

  • Kotak Mahindra Bank (NSE: KotakBank) announced the resignation of CTO and COO Milind Nagnur, effective February 15, 2025.

  • Bajaj Finance (NSE: BajajFinance) announced its business update for the October-December quarter on Saturday. As of December 31, 2024, its assets under management (AUM) saw a 28% year-on-year growth, reaching INR 3.98 lakh crore. The AUM increased by approximately INR 24,100 crore during Q3 FY25. Additionally, the deposit book reported a 19% year-on-year growth.

  • Vedanta (NSE: VEDL) reported stable operational performance for Q3 FY25. Aluminium production rose by 3% year-on-year to 614 kilotonnes (kt), while mined metal output also registered a 3% year-on-year increase. The company achieved record-high mined metal production for the first nine months of the fiscal year during the quarter.

  • ICICI Bank (NSE: ICICIBank) was issued a demand and penalty order of INR 100.76 crore by the  Maharashtra GST Department issued to the private lender. The order, received on January 3, 2025, includes a GST demand of ₹50.38 crore and an equivalent amount as a penalty, citing alleged tax discrepancies.

Investors are advised to closely monitor global cues and stock-specific developments.

Disclaimer: The views and recommendations above are those of experts, not of LatestLY. We advise investors to check with certified experts before making any investment decision.

(The above story first appeared on LatestLY on Jan 06, 2025 08:00 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).