Indian benchmark indices managed to settle with decent gains on Thursday following eased US inflation numbers, raising hopes of rate cuts by the US Federal Reserves and supportive sentiments of Dalal Street. BSE Sensex jumped 318.74 points, or 0.42 per cent, to end at 77,042.82. NSE's Nifty50 gained 98.60 points, or 0.42 per cent, to settle at 23,311.80. Here are the stocks that may remain under spotlight before the opening bell on Friday, January 17, 2025:
Corporate actions today: HCL Technologies, Tata Consultancy Services and Vantage Knowledge Academy shall trade ex-dividend today. Shares of Kitex Garments, Kore Digital and Sattva Sukun Lifecare will trade ex-bonus, while shares of Arunjyoti Bio Ventures and Jai Balaji Industries shall trade ex-split today.
Q3 results today: Wipro, Jio Financial Services, Tech Mahindra, SBI Life Insurance, Indian Hotels Company, ICICI Lombard General Insurance Company, Ramkrishna Forgings, Supreme Petrochem, Aether Industries, Ganesh Housing Corporation, Rallis India, Sterlite Technologies and Swaraj Engines are among the companies that will announce their results for December 2024 quarter.
Reliance Industries: The Mukesh Ambani-led conglomerate reported a 7.4 per cent YoY rise in its net profit to Rs 18,540 crore in the December 2024 quarter. The consolidated revenue for the oil-to-telecom major grew 6.97 per cent YoY to Rs 2,43,865 crore. Ebitda for the quarter rose 7.8 per cent YoY to Rs 48,003 crore, while margins expanded 10 bps.
Infosys: The IT major's net profit increased 4.6 per cent YoY to Rs 6,806 crore, while revenue rose 1.9 per cent YoY to Rs 41,764 crore for the December 2024 quarter. Ebit grew 3 per cent to Rs 8,912 crore, with margins expanding 20 bps to 21.3 per cent YoY. The company maintained operating margin guidance at 20-22 per cent.
Axis Bank: The private lender's net profit rose 4 per cent YoY to Rs 6,304 crore, while net interest income increased 9 per cent YoY to Rs 13,606 crore in the third quarter of the current financial years. Its gross NPA rose to 1.46 per cent, while net NPAs inched up to 0.35 per cent.
LTIMindtree: The IT solutions player reported a 13.2 per cent YoY fall in its net profit at Rs 1,086.7 crore but revenues increased 2.4 per cent YoY to Rs 9,660.9 crore in the December 2024 quarter. Ebit dropped 8.9 per cent YoY to Rs 1,328.99 crore, while Ebit margins tumbled 170 bps to 13.8 per cent for the quarter.
Bharat Petroleum Corporation: The oil marketing company has executed a loan agreement of Rs 31,802 crore with a consortium of State Bank of India to finance projects planned at Bina. Other consortium members include Punjab National Bank, Union Bank of India, Canara Bank, Bank of India, and Export-Import Bank of India.
Power Finance Corporation: The shadow lender's subsidiary, PFC Consulting, has transferred two subsidiaries—Gadag II and Koppal II Transmission, and Bijapur Rcz Transmission—to Power Grid Corporation of India and GR Infraprojects for Rs 13.23 crore and Rs 11.4 crore, respectively.
Havells India: The electric appliances maker's net profit declined 3.3 per cent YoY to Rs 278.3 crore, while revenue grew 10.8 per cent YoY to Rs 4,889 crore in Q3FY25. Ebitda dropped 1.4 per cent to Rs 426.5 crore in the quarter, with margins slipping 110 bps to 8.7 per cent YoY.
TVS Motor Company: The auto company announced its entry into Morocco in collaboration with its distribution partner, Hindi Motors. It is launching two-wheelers—TVS Ntorq 125, TVS Raider 125, and TVS Apache 160 and 200—in Morocco.
Mastek: The IT consultancy player has appointed Umang Nahata as a Whole-Time Director, designated as Chief Executive Officer - Mastek Group, for a term of three years effective January 16, 2025.
One Mobikwik Systems: The recently listed fintech player announced a strategic partnership with Piramal Capital & Housing Finance to provide personal loans to MobiKwik customers.
AstraZeneca Pharma India: The pharma company has received permission from the Central Drugs Standard Control Organisation (CDSCO) to import pharmaceutical formulations of a new drug for sale or distribution under Form CT-20 for Eculizumab concentrate for solution for infusion (300 mg, 10mg/ml) (SOLIRIS).
HFCL: The telecom infra company has secured an advance work order worth Rs 2,501.30 crore for the design, supply, construction, installation, upgradation, operation, and maintenance of the middle-mile network for BharatNet Phase III in the Punjab telecom circle, from Bharat Sanchar Nigam (BSNL).
Bank of India: A loan of $300 million for the lender has been arranged by CTBC Bank and Standard Chartered Bank, acting as mandated lead arrangers, underwriters, and book-running banks. The borrowing also includes a green shoe option of $100 million.
Jubilant Pharmova: The pharma company’s subsidiary, Jubilant Cadista Pharmaceuticals Inc, solid oral formulations facility at Salisbury, USA, was inspected by the USFDA, issuing five observations, with no repeat observations. Going forward, the facility is not expected to manufacture any products as it has closed its manufacturing operations.
Bajaj Healthcare: The pharma company has received exclusive rights for manufacturing, distribution, and sales of the finished formulation of the product Magnesium L Threonate (Magtein) in India from the rights holder, Threotech LLC. The brand Magtein by Threotech LLC has a sales value of approximately $438 million.
Zaggle Prepaid Ocean Services: The financial services player has entered into a customer service agreement with HT Media to provide the Zaggle Save (employee expense management & benefits). The company has signed a propel service agreement with Neuroglia Health to provide the Zaggle Propel reward platform.
Jammu & Kashmir Bank: The capital markets regulator Sebi has issued an administrative warning letter to the bank for delayed submission regarding the appointment of the MD & CEO.
Panache Digilife: The IT services company has signed a manufacture and supply agreement with a global customer for the manufacture and supply of laptops.