The domestic equity market on Friday, January 2 is likely to start off positively with GIFT NIFTY futures indicating a rise of 48 points for the NIFTY50. The market players will closely monitor the events in telecom, auto, pharma, banking, and quick-service restaurant sectors. Below is an elaborate discussion on the stocks that are expected to be in the limelight today.
1. Devyani International & Sapphire Foods
Shares of Devyani International Ltd (DIL) and Sapphire Foods India Ltd (SFIL) will be in focus as both companies move ahead with a strategic merger. The consolidation creates a single unified Yum! India franchisee for KFC and Pizza Hut. Both boards approved the scheme of arrangement in meetings held on Thursday, marking a significant step in India’s QSR industry consolidation.
2. ITC & Tobacco Stocks
The Finance Ministry has amended the Central Excise Act, imposing an excise duty ranging from ₹2,050 to ₹8,500 per 1,000 cigarettes, effective February 1. This will be in addition to the existing 40% GST. Pan masala manufacturers will also face a Health and National Security Cess, maintaining the total tax incidence at 88%. Analysts expect this move to impact tobacco stock volumes and pricing.
3. Vodafone Idea (Vi)
Vi shares are likely to see heightened activity after the telecom firm received a GST penalty notice of ₹638 crore from the Office of Additional Commissioner, Central Goods and Service Tax, Ahmedabad.
4. Bharat Electronics (BEL)
BEL continues to strengthen its order book after securing an additional ₹569 crore order on Thursday, covering communication equipment, medical electronics, fire detection & suppression systems, upgrades, spares, and services. The company had earlier received significant orders for radars, tank overhauls, fire control systems, simulators, and security software.
5. Aurobindo Pharma
Auro Pharma, a wholly-owned subsidiary of Aurobindo Pharma, approved the acquisition of the non-oncology prescription formulations business of Khandelwal Laboratories Pvt Ltd on a going concern basis.
6. Olectra Greentech
Olectra Greentech announced the Commercial Operation Date (COD) of its Greenfield EV Manufacturing Facility in Seetharampur, Hyderabad, with a per-shift annual production capacity of 2,500 buses, reaching 50% of its planned Phase I capacity.
7. TVS Motor Company & Hero MotoCorp
TVS Motor Company In December 2025, reported an impressive increase of 50% in sales as the total units sold reached 4,81,389, which was mainly the result of the domestic two-wheeler market, which grew by 54% and reached 3,30,362 units.
In contrast, Hero MotoCorp’s overall wholesales hit 4,56,479 units which is 40% higher than last year. The company’s home market sales also counted 4,19,243 units, which is a strong indication that the demand during the festive season was great and both ICE and EV scooter portfolios contributed a lot to the sales boost.
8. Maruti Suzuki India (MSIL)
MSIL may revise small car prices after last year’s price cuts following GST 2.0 implementation. It is true that the models impacted include the S Presso, Alto K10, Celerio, and Wagon-R for rebate options of INR 79,600 to 129,600.
9. MOIL
MOIL revised manganese ore prices effective January 1, 2026:
- Ferro grades ≥ Mn-44%: 3% increase
- Ferro grades < Mn-44%: 3% increase
- SMGR (Mn-30%) and Fines grades: 5% increase
10. Banking Sector Updates
- Punjab & Sind Bank: Total business grew 11.84% YoY, deposits up 9.27% YoY.
- Indian Bank: Total business up 13.4% YoY, deposits up 12.5% YoY, gross advances rose 14.5%.
- South Indian Bank: Gross advances grew 11.27% YoY, deposits up 12.17%.
11. KPI Green Energy
KPI Green Energy received approval to connect 32.40 MW of solar and hybrid projects to the main electricity grid. The projects were developed for clients under its CPP business segment.
Market Outlook:
Corporate earnings, mergers, acquisitions, tax modifications, and macroeconomic signals are seen as the areas where investors will concentrate their attention. The current significant aspects influencing the market movements are the sales of automobiles and two-wheelers, public health and telecommunication taxes, electric vehicle (EV) manufacturing, and banking sector performance.
