Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said the 23,000 level would be a crucial support for Nifty50. "We are not going to enter into a bear market. But it would be a rangebound and some consolidation is expected. 2025 is going to be a stock-specific market. From here onwards, the stock selection process would be extremely important for an individual investor," the market expert told Business Today on Thursday.
Answering a query on Jio Financial Services Ltd (JFSL) shares, Bathini said, "Investors can buy this stock, but only with a long-term view. One should not expect any immediate fireworks in the medium term." The Mukesh Ambani-backed financial services firm said its joint venture (JV) with global asset management giant BlackRock (Jio BlackRock Investment Advisers Private Ltd) has incorporated a wholly-owned subsidiary (Jio BlackRock Broking Private Ltd) to enter the broking business.
In terms of earnings, JFSL posted a marginal 0.32 per cent rise in its consolidated net profit for the December 2024 quarter. In Q3 FY25, profit came at Rs 294.78 crore as against Rs 293.82 crore in the year-ago period. Revenue from operations climbed 5.98 per cent to Rs 438.35 crore in Q3 FY25 from Rs 413.61 crore in the corresponding period last fiscal. JFSL shares edged up 0.09 per cent to close at Rs 228 level.
When asked about Bajaj Housing Finance Ltd shares, Bathini from WealthMills underscored that the company's quarterly (Q3 FY25) results "were quite good" and the counter looked 'attractive' at current valuations. "One can start buying this stock with a medium- to long-term horizon," he stated.
In Q3 FY25, the housing finance firm reported a 25 per cent YoY rise in its consolidated net profit, at Rs 548 crore, compared to Rs 437 crore in the year-ago period. The company's revenue from operations grew 25.8 per cent to Rs 2,449 crore in Q3 FY25 from Rs 1,946 crore reported in the corresponding period last year.
Bajaj Housing Finance -- a part of Bajaj Group -- is a non-deposit-taking housing finance company (HFC) registered with the National Housing Bank (NHB). Today, the stock fell 0.31 per cent to end at Rs 112.55.
Meanwhile, Indian equity benchmarks erased entire intra-day gains and settled in the red during a highly volatile trade. The domestic indices fell for the seventh consecutive session as IT, consumer, state-owned lenders and energy stocks.
The 30-share BSE Sensex pack slipped 32 points or 0.04 per cent to close at 76,138 and the broader NSE Nifty index shed 14 points or 0.06 per cent to finish at 23,031. Broader indices (mid- and small-cap shares) were mixed.
Eight out of the 19 sector gauges -- compiled by the NSE -- traded in the red. Sub-indexes Nifty IT, Nifty FMCG, Nifty Consumer Durables, Nifty PSU Bank and Nifty Oil & Gas underperformed the NSE platform by falling as much as 1 per cent, 0.79 per cent, 0.53 per cent, 0.90 per cent and 0.39 per cent.
The overall market breadth was weak as 2,089 shares declined while 1,858 advanced on BSE.