3 Stocks Under ₹100 to Buy on January 6 2025: Sumeet Bagadia’s Top Picks!

Sumeet Bagadia, Executive Director at Choice Broking, recommends three stocks to buy under ₹100 for January 6, 2025. These include South Indian Bank (₹26.96), Lloyds Engineering Works (₹85.29), and Paramount Communications (₹85.10), with target prices and stop losses outlined. Despite market losses, Bagadia remains cautiously optimistic about the Indian stock market’s outlook.

CONTENTS:

Stocks to Watch on January 6, 2025: HDFC Bank, ITC, Kotak Mahindra Bank, Vedanta, and More

Stocks to Buy Under ₹100: Sumeet Bagadia’s Recommendations for January 6, 2025

3 Stocks Under ₹100 to Buy on January 6 2025: Sumeet Bagadia’s Top Picks!

Stocks to Watch on January 6, 2025: HDFC Bank, ITC, Kotak Mahindra Bank, Vedanta, and More

• HDFC Bank: The bank reported a 3% year-on-year growth in gross advances for the quarter ending December 2024. Deposits rose by 15.8%, but CASA deposits fell by 4.4% compared to last year.

• ITC: January 6 is the record date for ITC’s hotel business demerger. ITC will retain a 40% stake, while shareholders will receive one ITC Hotels share for every 10 ITC shares they own.

• Kotak Mahindra Bank: The bank’s Chief Technology Officer and Chief Operating Officer, Milind Nagnur, has resigned, effective February 15, 2025.

• ICICI Bank: The Maharashtra GST Department has issued a ₹100.76 crore demand and penalty order, including ₹50.38 crore for GST discrepancies.

• Bajaj Finance: The company reported a 28% YoY growth in assets under management (AUM), reaching ₹3.98 lakh crore by December 31, 2024. Its deposit book increased by 19% YoY.

• Vedanta: The mining firm reported steady operational performance in Q3 FY25, with a 3% YoY increase in aluminium production and mined metal output. It also achieved record-high nine-month production.

• Premier Explosives: A fire at the company’s Telangana factory on January 4 led to one fatality and severe injuries to another person.

• NTPC Green: NTPC Renewable Energy Ltd won a 1000 MW capacity bid from Uttar Pradesh Power Corporation Ltd (UPPCL) at ₹2.56 per kWh.

• Andhra Paper: The company announced a disruption in operations at its Rajahmundry plant due to a workers’ strike.

• UCO Bank: The state-run bank reported a strong Q3 FY25 performance, with a 16.2% YoY rise in advances and a 9.37% YoY increase in deposits.

• Quess Corp: The company received an income tax refund, including interest, amounting to ₹124.80 crore for FY 2023-24.

Stocks to Buy Under ₹100: Sumeet Bagadia’s Recommendations for January 6, 2025

3 Stocks Under ₹100 to Buy on January 6 2025 Sumeet Bagadia, Executive Director at Choice Broking, has suggested three stocks to consider for buying on Monday, January 6. These stocks are:

1. South Indian Bank Ltd. (SOUTHBANK): Buy at ₹26.96, with a target price of ₹29 and a stop loss at ₹26.
2. Lloyds Engineering Works Ltd. (LLOYDSENGG): Buy at ₹85.29, with a target price of ₹92 and a stop loss at ₹82.
3. Paramount Communications Ltd. (PARACABLES): Buy at ₹85.10, with a target price of ₹91 and a stop loss at ₹82.50.

3 Stocks Under ₹100 to Buy on January 6 2025 Despite the significant losses in the market on Friday, January 3, Sumeet Bagadia remains cautiously optimistic about the Indian stock market. He highlighted that the Nifty 50 index has managed to stay above the psychological 24,000 mark and has a strong base at 23,850. He suggests focusing on stocks with promising technical charts for day trading.