Stocks to Watch 2026: Tata Power, SBI, HCLTech

Early signal from GIFT Nifty

GIFT Nifty futures pointed to a positive start for Indian equities on Thursday, February 5, 2026. The contract was quoted at 25,867 at 06:51 AM, up 19 points from the previous close. The opening tone matters because traders were already balancing stock-specific headlines against broader macro cues.

Even with a constructive lead, the market setup remained sensitive to global and domestic triggers. In a separate session snapshot, benchmark indices had earlier ended modestly higher after a volatile day ahead of the RBI monetary policy, amid the rupee hitting new lows and persistent FII outflows. The BSE Sensex closed up 158.51 points (0.19 percent) at 85,265.32, while the NSE Nifty50 gained 47.75 points (0.18 percent) to 26,033.75.

Tata Power: profit dip and Mundra shutdown overhang

Tata Power Company reported a 4 percent decline in net profit to Rs 1,194 crore for Q3FY26. The company attributed the drop to the ongoing shutdown of its flagship Mundra thermal power plant in Gujarat. For investors, the update puts operational continuity at Mundra and the pace of recovery into sharper focus.

The Mundra unit shutdown also featured in another market update, which said Tata Power had announced a temporary shutdown and was undertaking requisite measures. The company anticipated resumption of operations in due course, tentatively by December 31, 2025. While that tentative timeline relates to a different session reference, it underlines why the Mundra plant remains a recurring stock driver in Tata Power coverage.

Tata Power: capex plan through FY30, tilt to clean energy

Beyond quarterly earnings, Tata Power flagged its investment plans. The company said it is aiming for a capex of Rs 25,000 crore in the current fiscal year and will look to maintain the same annual spend till FY30. According to an investor presentation referenced in the market note, 65 percent of the capex is allocated to clean energy projects.

For markets, the capex direction is important because it offers signals on future project pipeline, balance sheet priorities, and the mix between conventional and renewable assets. It also sets expectations for execution milestones and funding decisions that can influence valuation and sentiment.

SBI: new MD appointment and Yono 2.0 focus

State Bank of India remained in focus after the government appointed Ravi Ranjan as the bank’s new Managing Director. The lender also launched Yono 2.0, a new version of its Yono app. The digital push has scale behind it: 9.60 crore of SBI’s over 50 crore customers use Yono, and the bank is targeting 20 crore customers on the platform.

For investors tracking banking stocks, the combination of senior leadership moves and measurable digital adoption metrics can shape expectations on customer acquisition, cross-sell potential, and operating leverage over time.

HCL Technologies: partnership expansion with Aurobay

HCL Technologies said it has widened its digital transformation partnership with Aurobay Technologies, a division of Horse Powertrain, to support Aurobay’s global growth strategy. HCLTech will serve as Aurobay’s partner for managing and optimising SAP and Siemens Teamcenter PLM software, and will provide integration services in Sweden and China.

The update reinforces the steady flow of enterprise modernisation work in IT services, especially around core platforms like SAP and product lifecycle management tools. For the stock, the market typically tracks deal breadth, client concentration, and execution consistency.

Texmaco Rail: order win through JV

Texmaco Rail and Engineering said it secured a Rs 132 crore order from Touax Texmaco Railcar Leasing Pvt Ltd (TTRL), its joint venture with France-based Touax Group. The order is for supply of rakes and will be executed in phases.

Order announcements in rail and engineering often draw attention to the order book trajectory and delivery schedules. Phased execution also implies the market will watch for progress updates as revenue recognition aligns with dispatch timelines.

Indian Hotels: new SeleQtions property in Varanasi

Indian Hotels Company (IHCL) announced the opening of a 43-key property, Avantika by the Ganges, under the SeleQtions brand at Varanasi in Uttar Pradesh. For hospitality stocks, additions of keys and new city presence can be relevant to growth visibility, particularly in destinations with strong domestic travel demand.

Other headline-driven counters: deals, ratings, fundraising

Several other corporate developments cited in the market notes may keep specific stocks active. ITC Hotels saw a potential supply overhang, with BAT-linked shareholders likely to sell up to 7 percent via a block deal valued at Rs 2,998 crore, at a floor price of Rs 205.65 per share (a 1 percent discount to the last close).

Reliance Industries received a credit rating upgrade, with S&P Global Ratings raising its long-term issuer credit rating to ‘A-’ from ‘BBB+’, citing improved cash flow stability and the growing importance of less cyclical consumer-facing businesses.

RailTel Corporation of India received a CPWD work order worth Rs 63.92 crore for the design and implementation of an ICT network for five years. Brookfield India Real Estate Trust launched a Rs 3,500 crore QIP at an indicative price of Rs 327, representing 17.1 percent of pre-issue units, with proceeds earmarked for the Ecoworld acquisition and debt repayment.

High-impact order and M&A updates: Diamond Power and Zaggle

Diamond Power Infrastructure received a letter of intent worth Rs 747.64 crore from Adani Green Energy for supply of power and solar cables to Khavda and Rajasthan projects, with the value exclusive of GST. The scope included 2,126 km of 33KV high-voltage cables and 3,539 km of 3.3KV solar medium-voltage cables.

Zaggle Prepaid Ocean Services approved acquisition of Rivpe Technology for up to Rs 22 crore. The transaction covers purchase of 81,429 equity shares and 16,407 compulsorily convertible preference shares, representing 100 percent of Rivpe’s fully diluted shareholding, making it a wholly owned subsidiary of Zaggle.

Electronics manufacturing: Dixon deal activity and stake movement

Dixon Technologies (India) drew attention on multiple triggers across the updates. One note said the company signed a binding term sheet to acquire a 51 percent stake in Kunshan Q Tech Microelectronics (India). Another update highlighted a promoter-level transaction where Sunil Vachani sold 16.7 lakh shares (2.77 percent of total equity) at an average price of Rs 13,301.47, totalling Rs 2,221.3 crore.

In the same transaction window, Motilal Oswal Mutual Fund bought a 2.4 percent stake, purchasing shares worth Rs 1,923.8 crore at an average price of Rs 13,307.96 per share. Separately, one note flagged government scrutiny of Dixon’s deals with Chinese firms Chongqing Yuhai and Kunshan Q Tech, with checks potentially linked to Press Note 3 rules.

Key data table for quick tracking

Market impact: what traders are likely to watch

The day’s flow of updates puts both earnings-linked and announcement-driven stocks on the radar. Tata Power combines near-term operational uncertainty around Mundra with a longer-term capex roadmap that prioritises clean energy. SBI’s updates are rooted in measurable digital adoption and a leadership appointment, which can influence expectations around strategy execution.

Deal and order headlines could drive stock-specific volatility, particularly where the value is material, such as Diamond Power’s LoI and RailTel’s CPWD order. In parallel, ITC Hotels’ block deal setup can influence near-term supply and price discovery due to the stated discount to the last close.

Conclusion

The stocks in focus reflect a mix of quarterly performance, capex plans, leadership changes, order wins, and transaction-led catalysts. With GIFT Nifty indicating a firmer start, attention is likely to remain on Tata Power’s operational updates, SBI’s digital metrics, and large-ticket corporate actions. Investors will also track follow-through on the announced timelines and any additional disclosures tied to earnings and institutional transactions.