Stocks to Watch Today (January 21, 2026): HCLTech, Eternal, Persistent Systems, Rallis India, JSW Steel and more

Stocks to Watch Today (January 21, 2026): Indian equities are likely to remain stock-specific on Wednesday amid a heavy earnings calendar. Several Nifty and F&O stocks are scheduled to announce December quarter results through the session and post-market, while corporate actions and deal-related news may drive individual stock moves.

Dr Reddy’s Laboratories

Dr Reddy’s Laboratories will announce its December quarter results between 1 pm and 3 pm. The stock will be in focus during the first half of the session as investors track commentary on margins, US business trends and regulatory updates.

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Eternal

Eternal is scheduled to declare its quarterly results between 3 pm and 3:30 pm. The stock may see activity in late trade based on earnings commentary and forward guidance.

Persistent Systems

Persistent Systems reported better-than-expected operational performance in Q3FY26. Revenue rose 5.5 per cent quarter-on-quarter to Rs 3,778 crore, while EBIT increased 8 per cent. Margins improved to 16.7 per cent. Profit declined due to a one-time labour code impact of Rs 89 crore. The company announced a dividend of Rs 22 per share, with January 27 as the record date.

United Spirits

United Spirits posted year-on-year revenue growth of 7.3 per cent and a sharp rise in profit, though margins declined. EBITDA margins fell 35 basis points, while volume growth remained weak. Revenue and profit were above estimates, while EBITDA and margins missed expectations.

AU Small Finance Bank

AU Small Finance Bank delivered a strong December quarter, beating estimates on all key parameters. Net interest income rose 16 per cent year-on-year, while profit increased 27 per cent. Provisions declined sharply, asset quality improved marginally and slippages fell sequentially.

Canara Robeco AMC

Canara Robeco AMC reported double-digit revenue growth year-on-year. However, EBITDA declined due to margin compression. Profit rose around 10 per cent compared with the year-ago period.

Cyient DLM

Cyient DLM reported a sharp decline in revenue during the quarter, while profitability remained largely stable. Margins improved sequentially despite lower topline performance.

Rallis India

Rallis India posted strong revenue and EBITDA growth in the December quarter. However, profit declined sharply due to an exceptional loss, which impacted pre-tax earnings.

Mastek

Mastek reported a sequential decline in revenue, while margins improved. Profit rose double digits quarter-on-quarter, supported by operational efficiencies.

CreditAccess Grameen

CreditAccess Grameen returned to profitability in Q3FY26, driven by higher net interest income. Asset quality weakened slightly on a sequential basis.

Shoppers Stop

Shoppers Stop reported muted revenue growth and a sharp decline in profitability. EBITDA and margins fell year-on-year, reflecting pressure on operating costs.

EPACK Durables

EPACK Durables reported healthy revenue and EBITDA growth. Margins improved, while profit growth remained modest.

IndiaMART InterMESH

IndiaMART InterMESH posted steady sequential revenue growth and a sharp rise in profit, supported by margin expansion and operating leverage.

Tribhovandas Bhimji Zaveri

Tribhovandas Bhimji Zaveri reported strong growth across revenue, EBITDA and profit in the December quarter, aided by margin expansion.

Jammu & Kashmir Bank

Jammu & Kashmir Bank reported an improvement in profitability, while asset quality improved on a quarter-on-quarter basis.

Vikram Solar

Vikram Solar posted strong earnings growth, with EBITDA rising sharply and profit surging multiple times from the year-ago period, supported by margin expansion.

Embassy Developments

Embassy Developments entered the Mumbai residential market with three project launches across Worli, Juhu and Alibaug. The projects carry a combined gross development value of over Rs 12,000 crore.

Restaurant Brands Asia

Restaurant Brands Asia said promoter Everstone Capital will sell its entire 11.26 per cent stake. Inspira Global will invest additional capital through equity and warrants, triggering an open offer.

HCL Technologies

HCL Technologies entered into a partnership with US-based Carahsoft to expand its presence in the public sector for AI, cloud and cybersecurity solutions.

JSW Energy

JSW Energy signed a power purchase agreement for a 1,600 MW greenfield thermal power project. The project is expected to be commissioned over the next six years.

Edelweiss Financial Services

Edelweiss Financial Services said its subsidiary has filed draft papers with SEBI for an IPO, with the offer-for-sale capped at Rs 1,500 crore.

JSW Steel

JSW Steel received competition regulator approval for a 50:50 joint venture with Japan’s JFE Steel to expand steel capacity in Odisha.

Power Grid Corporation of India

Power Grid Corporation approved transformer procurement worth Rs 914 crore across multiple regions, which will support grid expansion projects.