As the Indian stock market navigates a landscape of mixed global cues and domestic developments, several companies are under close scrutiny from investors. Here's a look at the key factors influencing some of the major stocks to watch: TCS, HCL Tech, ICICI Prudential, IHCL, Tata Steel and Maruti Suzuki.
TCS
Tata Consultancy Services (TCS), India's largest IT services firm, recently announced its Q3FY26 results, revealing a 14% year-on-year decline in consolidated net profit. Despite this dip, revenue from operations saw a 5% increase, reaching ₹67,087 crore. The company's AI services are generating substantial revenue, with annualised AI services reaching $1.8 billion. TCS has also declared a dividend of ₹57 per share, including a special dividend of ₹46. However, the new wage and labour code implementation has impacted the bottom line. While analysts forecast a roughly 6% rise in profit, the company is facing challenges including continued headcount decline, and the impact of new labour codes. The company's operating margin stood at 25.2%. The company’s total contract value for the quarter stood at $9.3 billion.
HCL Tech
HCL Technologies reported its Q3FY26 results, with revenue reaching ₹33,872 crore, a 13.3% year-on-year growth. However, net profit experienced an 11.2% year-on-year drop to ₹4,076 crore. The company has declared an interim dividend of ₹12 per share. HCL Tech has revised its FY26 guidance for constant currency revenue growth, narrowing it to 4-4.5%. The company secured multiple deals, including a five-year strategic engagement with a global apparel retailer.
ICICI Prudential
ICICI Prudential Life Insurance is scheduled to announce its Q3 results on January 13, 2026. The company's stock has shown turnaround potential and is included in Starfolio Baskets. ICICI Bank holds a 51% stake in the company. HDFC Securities has set a target price of ₹825 with an "ADD" recommendation on the stock.
Indian Hotels Company (IHCL)
The Indian Hotels Company (IHCL), which operates the Taj Group of Hotels, saw its shares fall after Morgan Stanley downgraded the stock to 'equal-weight'. IHCL's revenue increased by 12% year-on-year to Rs 2,124 crore for the September quarter. The company sold its entire shareholding of 25.52% in Taj GVK Hotels and Resorts Limited to Ms. Shalini Bhupal.
Tata Steel
Tata Steel secured an extension of interim protection from the Orissa High Court regarding two demand notices totaling ₹4,313.61 crore. The company reported its best-ever quarterly crude steel production. Analysts suggest a "buy" with a target of Rs 215 within the next couple of months. Tata Steel shares closed at ₹183.30 on the BSE, reflecting a gain of ₹4.90, or 2.75%.
Maruti Suzuki
Maruti Suzuki has approved a proposal to acquire land in Gujarat for capacity expansion. The company is planning to invest ₹4,960 crore for this purpose, aiming to add up to 1 million units in capacity. The expansion will be funded through internal accruals and external borrowings. Maruti Suzuki's board has approved the acquisition of land for expansion of production capacity in Gujarat.
Market Overview
On Monday, the Indian stock market ended higher, snapping its five-day losing streak. The Sensex rose 301.93 points, or 0.36%, to close at 83,878.17, while the Nifty 50 settled 106.95 points, or 0.42%, higher at 25,790.25. The Indian stock market saw a sharp rebound in the second half of Monday's trading session. Gift Nifty indicates a mildly positive start for the Indian benchmark index.
