Housing and Urban Development Corporation (Hudco) has made a stellar debut on stock markets today, and was 27% up as of this writing. The IPO issue was subscribed nearly 80 times. The government is looking to sell around 10.19% in the firm. HUDCO's focus is in wholesale lending and loans for urban infrastructure and housing projects.

India's largest lender State Bank of India announces its fourth quarter results today. The announcement is the first after the merger of SBI with its five associate banks. Analysts are expecting SBI to post net profits of Rs. 2,600+ crore for the quarter, a sharp increase post merger from the Rs. 1,264 crore in the same quarter last year. However, there is also concern about what the NPAs number is going to be for the bank, especially since the associate banks had weaker NPA numbers. SBI's share price hit a new year high today in the leadup to results. 

Stock in spotlight: Pharma company Granules India has seen strong enthusiasm from analysts, with upsides of 20%+ from analysts.

Photo of the day: Jockeys bathe their horses after a traditional race in a village in Indonesia. Sijori/Barcroft Images