Stocks To Watch for Jan 28: Vedanta, Marico, RVNL, Motilal Oswal and more

Vedanta to offer Hindustan Zinc shares through OFS; Marico, PC Jeweler post strong Q3; RVNL wins rail bid; Caplin Point Labs gets US FDA nod. Here are some stocks to track ahead of Wednesday’s trading session.

Vedanta Ltd.

The company announced that it will offer up to 6.7 crore equity shares, or 1.59% of the total paid-up capital, of Hindustan Zinc Ltd (hzl) through an Offer for Sale (OFS) on January 28–29, 2026, with a base offer of 3.35 crore shares (0.79%) and an equal number under the oversubscription option at a floor price of ₹685 per share. The OFS is aimed at deleveraging Vedanta’s balance sheet and optimizing HZL’s capital structure, with non-retail investors eligible to bid on January 28, while retail investors and non-retail bidders carrying forward unallocated bids can participate on January 29.

Marico | The company reported a strong Q3 performance, with net profit at ₹460 crore, above the CNBC-TV18 poll estimate of ₹445 crore, while revenue came in at ₹3,537 crore compared with the survey of ₹3,520 crore. EBITDA stood at ₹592 crore versus the estimated ₹587 crore, with margin at 16.7%, in line with expectations. On a year-on-year basis, net profit grew 13.3% from ₹406 crore, revenue grew 26.6% from ₹2,794 crore, and EBITDA increased 11.1% from ₹533 crore, though margins declined from 19.1% in the year-ago quarter.

Motilal Oswal Financial Services Ltd | The company posted a resilient Q3FY26, with consolidated net profit up 5.9% YoY to ₹565.9 crore and revenue increasing 18% to ₹2,111.6 crore. The firm reported its highest-ever operating PAT of ₹611 crore, while total PAT including treasury and OCI gains surged 58% YoY to ₹721 crore. Growth was driven by strong momentum in asset and personal wealth management, with asset management PAT up 65% YoY to ₹227 crore and total AUM rising 33% to ₹1.89 lakh crore. SIP inflows jumped 55% YoY to ₹4,515 crore, giving the company a 5% market share, and the board announced an interim dividend of ₹6 per share.

Anil Agarwal-led Hindustan Zinc will sell 6.70 crore equity shares via ‘offer for sale’ to raise about ₹4,600 crore.

Initially, the company will sell 3.35 crore equity shares (0.79 per percent of the paid-up equity share capital) at a floor price of ₹685 a share on Thursday.

On oversubscription, the company will offload another 3.35 crore equity shares leading to overall stake sale of 1.59 per percent.

The company will raise ₹4,600 crore through the ‘offer for sale’ to deleverage the balance sheet of the parent Vedanta and optimization of the capital structure of the company.

Bidding for non-retail investors will open on January 28, while retail investors and non-retail bidders carrying ahead unallotted bids can participate on January 29.

Allocation for non-retail investors will follow price priority, while retail investors will get shares at the cut-off price. Mutual funds and insurance companies have a minimum 25 percent allocation in the non-retail category, and retail investors are guaranteed at least 10 percent of the offering.

Shares of Hindustan Zinc have rallyd 60 per cent in the last two months, corresponding with a record rally in silver prices in the global markets. The stock is the only listed silver play in India.

Shares of Hindustan Zinc were up 4 per cent at ₹727 on Tuesday.

Oil-to-metals conglomerate Vedanta Ltd on Tuesday (January 27) announced it will offer up to 6.7 crore equity shares, representing 1.59% of the total paid-up capital of Hindustan Zinc Ltd, through an Offer for Sale (OSF) on January 28–29, 2026.

The base offer is 3.35 million shares (0.79%), with an equivalent number available under the Oversubscription Option. The floor price has been set at ₹685 per share.

The OFS is aimed at deleveraging Vedanta’s balance sheet and optimizing HZL’s capital structure. Non-Retail investors can bid on January 28, while Retail investors and non-Retail bidders carrying forward unallotted bids can participate on January 29.

Silver price rally makes Hindustan Zinc India’s most valuable metals stock

Allocation for non-Retail investors will follow price preference, while Retail investors will get shares at the cut-off price. Mutual funds and insurance companies have a minimum 25% allocation in the non-Retail category, and Retail investors are guaranteed at least 10% of the offer.

Earlier today, Vedanta‘s Board of Directors had approved the sale of up to 1.59% stake in Hindustan Zinc Ltd via an offer for sale route. Vedanta said the transaction will be executed through the stock exchange mechanism in line with applicable laws and the circulars issued by the SEBI.

Net profit for the period increased by 47% from the same quarter last year to ₹3,879 crore from ₹2,647 crore. Profitability was also aided by a 33% increase in other income.

Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) for the quarter stood at ₹6,005 crore, higher than the CNBC-TV18 survey of ₹5,614 crore. On a year-on-year basis, Hindustan Zinc’s EBITDA increased by 34.7%.

Shares of Hindustan Zinc Ltd ended at ₹726.60, up by ₹27.75, or 3.97%, on the BSE.

Fundraising Target: Vedanta aims to raise ₹4,589.50 crore at the set floor price to strengthen its balance sheet and deleverage debt.
Floor Price: The floor price is fixed at ₹685 per share, which is rough a 6% discount to the closing price of ₹726.50 on January 27, 2026.

Timeline:

Jan 28, 2026: Open for non-retail investors.
January 29, 2026: Open for retail investors.

Stakeholding Change: As of December 31, 2025, Vedanta held a 61.84% stake in hzl. Post-sale, its holding is expected to reduce to approximately 60.25%.

Market Context:

The move follows a significant rally in hzl shares, driven by a surge in global silver prices.
For official updates and further participation details, you can monitoring the BSE India or NSE India websites.
Would you like to see a comparison of Vedanta‘s recent stake sales or more information on the Hindustan Zinc quarterly results that preceding this announcement?
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