Indian stock markets began the New Year with muted trading, with analysts anticipating a gradual breakout from consolidation. Key stocks in focus include ITC, Devyani International, Vodafone Idea, Zomato, and others. Devyani International plans to merge with Sapphire Foods, expecting significant synergies. Vodafone Idea disclosed receiving a GST penalty order of ₹637.9 crore, which it plans to contest legally. Zomato and Blinkit reported record delivery volumes, despite ongoing delivery partner strike calls.