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<ul><li>At 8:45 am, the SGX Nifty was up 0.57%, indicating a higher start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock indices are likely to start in the green on Friday, led by mixed cues from the global markets. At 8:45 am, the SGX Nifty was up 0.57%, indicating a higher start for Nifty50. In the US, <a href="https://www.businessinsider.in/stock-market/news/heres-why-stocks-are-at-record-highs-following-the-capitol-chaos-in-dc/articleshow/80160476.cms">Wall Street overcame the disappointment from the riots in Capitol Hill and</a> celebrated the Democrats taking control of the US Congress after the victory in the Senate runoff elections in Georgia. The Dow Jones Industrial Average closed 211 points higher, and the S&amp;P 500 was up 1.48%. Nasdaq hit an all-time high. While Asian markets reflect the optimism in the US, the American dollar has weakened further and crude oil has seen the best close in a year. All these factors will contribute to the movement in stocks, aside from stock-specific news triggers. These are the stocks to watch out for during the trading session today: TCS The Tata Group company, Tata Consultancy Services (TCS) is slated to report its third-quarterly earnings today. The street is expecting a strong growth in revenue compared to three months ago. More importantly, the country’s biggest software exporter is expected to gain more market share from key competitors like Capgemini and Cognizant. ONGC ONGC told the stock exchanges that it plans to borrow ₹1,500 crore from private investors, offering an interest of 4.5% per year, via non-convertible debentures (NCD) with a face value of ₹10 lakh. These will be unsecured, listed i.e. tradeable, redeemable, non-cumulative, and taxable. NHPC NHPC informed investors that the National Company Law Tribunal (NCLT) has approved its ₹165 crore resolution plan for taking over Jalpower Corp. JPCL is undergoing a corporate insolvency resolution process that was initiated on April 9, 2019, via NCLT. Tata Power Tata Power announced that it has taken over the management and operations of Odisha’s power distribution utilities WESCO and SOUTHCO upon completion of the sale process. With this, WESCO and SOUTHCO will operate under the company name as TP Western Odisha Distribution Ltd (TPWODL) and TP Southern Odisha Distribution Ltd (TPSODL) respectively. Punjab National Bank The state-owned Punjab National Bank has partnered with IIT Kanpur and the Foundation for Innovation &amp; Research in Science &amp; Technology (FIRST) for establishing an innovation centre at the institute's campus. Under this partnership, PNB and IIT Kanpur will set up a 'Fintech Innovation Centre (FIC)' as a vehicle to research and develop technological solutions to address challenges and explore opportunities in the BFSI space, the bank said in a statement. Bharat Rasayan The board of Bharat Rasayan will meet on January 12 to consider the proposal of buyback of equity shares. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/ducati-is-launching-12-new-bikes-in-india-in-2021-check-the-launch-dates-here/articleshow/80146997.cms" data-type="tilCustomLink">From Scrambler and Multistrada to Monster and SuperSport — Ducati is launching 12 new bikes in India, check the launch dates here</a> <a href="https://www.businessinsider.in/politics/world/news/a-timeline-of-how-trump-in-his-final-weeks-incited-his-followers-to-storm-the-capitol-and-attempt-a-coup/articleshow/80149175.cms" data-type="tilCustomLink">A timeline of how Trump in his final hours incited his followers to storm the Capitol and attempt a coup</a>

TCS’ market share, ONGC’s borrowing, Tata Power gets new territories⁠— these and other top stocks to watch

The Modi-led government is banking among other things on its ambitious <a href="http://businesstoday.intoday.in/story/disinvestment-process-arvind-mayaram-ongc-nhpc/1/209842.html" target="_blank" title="Disinvestment process to start in 2-3 months: Mayaram">disinvestment programme </a>to pare fiscal deficit—the amount of money it borrows to fund its expenses—from 4.5 % of gross domestic product in 2013-14 to 4.1% in 2014-15. However, like the previous <keyword id="26374" type="ORGANIZATION" weightage="20" keywordseo="UPA-government">UPA government</keyword>, the new NDA regime too is unlikely to meet its divestment target. 
 It recently approved share-sale plan in three state-owned companies—Coal India (CIL), National Hydroelectric Power Corporation (<keyword id="45180" type="CITY" weightage="20" keywordseo="NHPC">NHPC</keyword>) and Oil and Natural Gas Corporation (ONGC). This will help it scoop up Rs 44,000 crore, which looks close to the government’s target of raising Rs 43,425 crore from stake sale in public sector companies in the current financial year. However, even the most optimistic empathisers say the government is likely to miss the target. 
 The government plans to sell 10% stake in <keyword id="45383" type="COMPANY" weightage="20" keywordseo="Coal-India">Coal India</keyword>, 5% in ONGC and 11.36% NHPC which will fetch Rs 23,000 crore, Rs 18,000 crore and Rs 2,800 crore, respectively, at current market prices (it currently holds stakes of 89.65 per cent in Coal India, 85.96 per cent in NHPC and 68.94 per cent in ONGC). 
 The track record of the government in meeting divestment target is far from impressive—it missed target for the last financial years (last year, it raise only Rs 16,027 crore against a target of Rs 40,000 crore). So far this year, it has managed to raise only Rs 1,700 crore, by divesting a 5% Steel Authority of India (<keyword id="6357529" type="CITY" weightage="20" keywordseo="SAIL">SAIL</keyword>). 
 
A clutch of factors may hinder the government from meeting its target this year as well. Its plan to scoop up Rs 23,000 crore via sale of 10% in Coal India is too big to be achieved. This will be the first time the government is going to make such a huge offering (the largest share sale so far is Coal India’s Rs 15,000-crore IPO in October 2010) and if the market has the appetite to absorb such a humongous offer is yet to be seen. The government may also find it hard to overcome the stiff resistance from trade unions that are vehemently opposed to stake sale in Coal India. 
 Another concern is about ONGC. Crude oil prices have been trading at historic lows of late amid worries of a supply glut (prices have already dipped below $60 per barrel, which is a multi-year low) after <keyword id="47969" type="ORGANIZATION" weightage="20" keywordseo="Opec">OPEC</keyword> decided not to cut production in the last week of November. Non-OPEC member Russia, another top oil producer, too indicated it will not pare production. So whether investors would be ready to invest in ONGC at a time when oil prices have seen an unprecedented decline is another question. 
 
Also, the government would need active participation from public-sector financial institutions such as Life Insurance Corporation (LIC) to make the stake sale in Coal India and ONGC, etc. a success. For instance, in 2011-12, LIC invested around Rs 12,000 crore to pick part of ONGC shares that were on offer. However, this time around analysts expect the life insurance major to stay away from such an indulgence as its premium collection has failed to gain speed so far this year—a sign of increasing competition from a litany of private sector players that are trying to defeat life insurance behemoth on its own turf. 
 Another factor which will decide the success of this year’s stake sale is participation from global investors. However, considering the dip in inflows from FIIs to the <keyword id="47445" type="UNKNOWN" weightage="20" keywordseo="Indian-market">Indian market</keyword> in recent times, participation from global players including sovereign wealth funds may be a dampener. Whether this year’s <keyword id="981290" type="UNKNOWN" weightage="20" keywordseo="Divestment-plan">divestment plan</keyword> is going to be a bang or a whimper will also be dependent on how well finance ministry and divestment department are going to market the salability of the public-sector biggies that are on the block.

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TCS’ market share, ONGC’s borrowing, Tata Power gets new territories⁠— these and other top stocks to watch

Navdeep Yadav

Will Modi Government’s Divestment Plan Turn A Whimper?

Preetam Kaushik

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