Stocks To Watch on January 6: HDFC Bank, ITC, Kotak Mahindra Bank, Vedanta and more

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HDFC Bank | The private sector lender announced its quarterly business update on Friday for the three-month period ended December 2024. The bank's gross advances rose 3% year on year, while deposits grew 15.8%.  However, CASA deposits decreased 4.4% as compared to the year-ago period.

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ITC | January 6 is the record date for the demerger of ITC Hotels. The restructuring will see ITC retain a 40% stake in its hotel business, with the remaining 60% directly held by shareholders through a rights entitlement. Shareholders will receive one ITC Hotels share for every 10 ITC shares they own.

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Kotak Mahindra Bank | The Chief Technology Officer (CTO) and Chief Operating Officer (COO) Milind Nagnur has resigned, the bank announced on Friday. The resignation will be effective from the close of business hours on February 15, 2025.

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ICICI Bank | The lender has been issued a demand and penalty order of ₹100.76 crore by the Maharashtra GST Department. This includes ₹50.38 crore as GST demand and an equal amount as a penalty. The order, received on January 3, 2025, pertains to alleged tax discrepancies. 

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Bajaj Finance | The NBFC reported its business update for the Oct-Dec quarter on Saturday. The company's assets under management (AUM) grew by 28% year-on-year to ₹3.98 lakh crore as of December 31, 2024. AUM grew by approximately ₹24,100 crore in the third quarter of the current fiscal. The deposit book rose 19% year-on-year.

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Vedanta | The mining company reported steady operational performance in Q3 FY25. Aluminium production increased by 3% year-on-year to 614 kt, while mined metal output grew 3% year-on-year as well. The company achieved record-high nine-month mined metal production during the quarter.

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Premier Explosives | A fire occurred on Saturday, January 4 at the company's Telangana factory. The fire caused damage to the building and equipment in one of the pyro technique manufacturing facilities. The incident resulted in the loss of one life and severe injuries to another person, who has been transferred to a hospital in Hyderabad for treatment.

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NTPC Green | NTPC Renewable Energy Ltd, a wholly owned subsidiary of the company, has emerged as a successful bidder in the e-reverse auction conducted by Uttar Pradesh Power Corporation Ltd. (UPPCL). NTPC REL secured a capacity of 1000 MW at a tariff of ₹2.56 per kWh. The Letter of Award (LOA) from UPPCL is awaited.

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Andhra Paper | The paper company announced a disruption in operations at its manufacturing plant in Rajahmundry, East Godavari, Andhra Pradesh, due to a workers' strike initiated by the Workers Trade Unions.

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UCO Bank | The state-run bank reported a strong performance in Q3 FY25, with total advances rising 16.2% year-on-year. The bank's total deposits increased 9.37% YoY as of December 31, 2024. UCO Bank also reported improvement in its domestic advances, which increased by 18.83% over the same period last year.

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Quess Corp | The business services provider announced the receipt of an income tax refund, including interest, amounting to ₹124.80 crore for the financial year 2023-24.