Stocks to Watch Today, Thursday, January 16:
India stock markets are preparing to open higher on Thursday, January 16, 2025. At 7:35 AM, GIFT Nifty futures were up 135 points at 23,400 levels.
The strong open for India markets could be on the horizon due to firm global markets where sentiment improved following news of Israel-Hamas ceasefire and hostage deal.
South Korea's Kospi was up 1.16 per cent while the small-cap Kosdaq index was up 1.65 per cent, after the country's central bank kept interest rates unchanged.
Japan's benchmark Nikkei 225 was trading 0.61 per cent higher, while Hong Kong's Hang Seng index jumped 1.43 per cent at the open, and China mainland's CSI 300 inched up 0.67 per cent. Over in Australia, the S&P/ASX 200 was up 1.45 per cent.
Overnight in the US, the Dow Jones Industrial Average leaped 1.65 per cent, while the S&P 500 gained 1.83 per cent. The tech-heavy Nasdaq Composite rallied 2.45 per cent after December retail inflation came lower-than-expected at 0.2 per cent.
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Meanwhile, here is a list of stocks to watch today:
Q3 results today:
37 companies are scheduled to report their Q3 results today (December quarter results today) for the financial year 2024-25 (FY25). These include Alok Industries, Axis Bank, DB Corp, Hatsun Agro Products, Havells India, Infosys, LTIMindtree, Mastek, Metro Brands, Reliance Industries, and Waaree Renewable Technologies.
Axis Bank:
As per analysts, Axis Bank Q3 results could be a weak set of numbers, dragged by weak loan and deposit growth, coupled with margin pressure, and poor asset quality. READ PREVIEW
Reliance Industries:
In a Bloomberg poll, seven analysts estimated RIL's consolidated revenue at Rs 2.37 trillion and six analysts foresaw a net income adjusted of Rs 18,940 crore for Q3FY25. They expect RIL's core business to drag its Q3 results again. READ MORE
Infosys:
According to estimates, Infosys may see its average revenue rise by 6.3 per cent year-on-year (Y-o-Y) to Rs 41,298 crore as against Rs 38,821crore in the third quarter of FY25. Sequentially the topline may increase by 0.7 per cent compared to Rs 40,986 crore in Q3FY25. READ HERE
HDFC Life:
HDFC Life, on Wednesday, saw a 13.65 per cent year-on-year (Y-o-Y) growth in net profit to Rs 414.9 crore in Q3FY25, driven by healthy persistency and a growing back book. Its value of new business (VNB) rose by 8.6 per cent Y-o-Y to Rs 930 crore in Q3. The insurer's VNB margin, a measure of profitability, stood at 26.06 per cent in Q3, compared to 26.8 per cent last year. However, the margin improved from 24.3 per cent in the second quarter of FY25 due to the repricing of products.
Ceat:
The tyre maker reported a 46.48 per cent decline in its consolidated net profit to Rs 97.03 crore in Q3FY25, impacted by high raw materials costs. The cost of materials consumed was Rs 2,116.52 crore, up from Rs 1,694.91 crore in the third quarter of the last fiscal, the company said.
Meanwhile, the company has converted its 'Wholly-Owned Subsidiary', incorporated in the Republic of Indonesia in October 2024, into a 'Subsidiary'. Here, Ceat would hold majority of the shareholding and a nominal stake will be held by another shareholder.
Oracle Financial Services Software:
OFSS' Q3 net profit fell 26.9 per cent year-on-year (Y-o-Y) to Rs 541.3 crore, while its revenue from operations fell 5.9 per cent on year to Rs 1,715.2 crore.
Punjab and Sind Bank:
Punjab & Sind Bank, on Wednesday, clocked a more than two-fold jump in its net profit to Rs 282 crore during Q3FY25. The bank's total income increased to Rs 3,269 crore during the quarter as against Rs 2,853 crore in the same period last year.
LTTS:
L&T Technology Services announced a net profit of Rs 3,22.4 crore for Q3FY25, down by 4.1 per cent year-on-year (Y-o-Y). The company has guided for a near 10 per cent revenue growth in constant currency for FY25.
Other Q3 result reactions: Transrail Lighting, Authum Investment and Infrastructure.
NTPC, IRFC:
After approving the financing of 20 BOBR rakes, procured under General Purpose Wagon Investment Scheme (GPWIS) of Indian Railways, to NTPC for up to Rs 700 crore in October 2024, IRFC's Board, on Wednesday, signed a lease agreement with NTPC Ltd for 8 BOBR rakes, amounting to Rs 250 crore in the first phase.
Nazara Technologies:
A meeting of the Board of Directors of Nazara Technologies is scheduled to be held on Monday, January 20, 2025, to consider and approve the issuance of equity shares / securities of the company on a preferential basis.
Swiggy:
The Ministry of Corporate Affairs, Central Processing Centre, has approved incorporation of Swiggy Sports Private Limited, a wholly-owned subsidiary of the company.
The main objective of the newly, to be incorporated entity, will include engaging in sports team ownership, management, talent development, event organisation, and facility operation, offering career services, acquiring broadcasting and sponsorship rights, and promoting sports events through various business models etc.
RVNL:
The company has received a Letter of Acceptance from Bharat Sanchar Nigam Limited (BSNL)for the development (creation, upgradation, and operation and maintenance) of Middle mile network of Bharat Net on Design-Build-Operate-and-Maintain (DBOM) model.
Antony Waste Handling Cell:
During the quarter, the C&T operation managed ~0.49 million tonnes and processed 0.69 million tonnes of MSW. The total tonnage for Q3FY25 reached about 1.18 million tonnes, reflecting a 3.2 per cent year-over-year increase when adjusted for completed projects.
For the first nine months of FY25, the total MSW volume managed was ~3.56 million tonnes, a 5.7 per cent year-over-year (Y-o-Y) increase in volumes after adjusting for completed projects.
Gail (India):
In a stock exchange filing, Gail (India) said that the company and SEFE Marketing & Trading Singapore Pte. Ltd. have entered into a settlement agreement, wherein SEFE Marketing would pay $285 million to Gail (India) and withdraw all arbitration proceedings before the London Court of International Arbitration.
Purvankara:
The company has said in a stock exchange filing that Abhishek Kapoor has resigned from the position of Group Chief Financial Officer of the company (Additional Charge) with effect from January 15, 2025.
Azad Engineering:
Azad Engineering has signed a Long-Term Supply Agreement with GE Vernova International LLC, USA, for the supply of highly engineered, complex rotating, and stationary Airfoils for Advanced Gas Turbine Engines to meet their global demand in the power generation industry. This current phase of the contract is valued at $112 million (Rs 960 crore).