Indian markets are likely to open on a green note on Thursday, January 24. As per the early trends, GIFT Nifty was trading 38.50 points or 0.17 per cent higher at 23,294.50. This indicates a potentially positive opening for key domestic indices, including the NSE Nifty 50 and BSE Sensex.
Sensex and Nifty end in green on January 23
The Indian stock markets closed Thursday’s session with modest gains as the NSE Nifty 50 rose 60.90 points or 0.26% to 23,216.25 and the BSE Sensex added 115.39 points or 0.15% to settle at 76,520.38. While broader indices performed strongly, with the Nifty Midcap 100 surging 1.73% to 54,027.05, the banking sector lagged, as the Nifty Bank slipped 130 points or 0.27% to close at 48,594.50.
Quarterly watch: Key earnings announcements on January 24
Around 90 companies are set to announce their Q3 FY25 earnings today, keeping their share prices in focus during the trading session. Leading the list is Companies including DLF, Interglobe Aviation, Godrej Consumer Products, JSW Steel, DCB Bank, Bank of India, Torrent Pharmaceuticals, Trident, Suven Life Sciences, Ugro Capital, TTK Healthcare, Orient Cement, Sagar Cements, NIIT, Steel Exchange India, AU Small Finance Bank, among others.
Stocks to watch on January 24, 2025
IREDA
The renewable energy player, IREDA, received board approval to raise Rs 5,000 crore via QIP, subject to shareholder and regulatory clearances.
The IREDA share price closed in the red, declining 2.10% to settle at Rs 196.05 per share.
Adani Energy Solutions
Adani Energy Solutions posted an impressive 72.91% YoY rise in Q3 profit at Rs 561.78 crore, driven by a 27.78% increase in revenue, which stood at Rs 5,830.26 crore.
The share price of Adani Energy Solutions ended the previous trading session on a flat note, rising 0.29%.
UltraTech Cement
UltraTech Cement reported a Q3 net profit of Rs 1,473.51 crore, marking a 16.98% YoY decline. Revenue increased modestly by 2.71% to Rs 17,193.33 crore.
The share price of UltraTech Cement saw a sharp increase of 6.67%, ending the session at Rs 11,406.95.
BPCL
Bharat Petroleum Corporation Limited (BPCL) announced its board’s approval to submit a development plan for the Nunukan block’s oil and gas reserves in Indonesia. The project will be executed through its subsidiary, Bharat PetroResources Limited (BPRL). A step-down subsidiary, BPRL Ventures Indonesia BV, holds a 16.23% stake in the block, with Pertamina Hulu Energi Nunukan Inc leading as the operator.
The share price of the company concluded the trading day with a loss, shedding 2.14%.
Dr Reddy’s Laboratories
Dr Reddy’s reported a 2.5% YoY rise in Q3 net profit, totaling Rs 1,413.3 crore, slightly below expectations. Last year’s Q3 profit stood at Rs 1,379 crore.
The share price of Dr Reddy’s Laboratories ended the session nearly flat, down by 0.48%.
Syngene International
The contract research firm recorded an 18% YoY jump in net profit at Rs 131 crore for Q3, supported by a 10.6% rise in revenue, which stood at Rs 943 crore.
The share price of Syngene International gained 2.74%, closing at Rs 850.80.
KFin Technologies
KFin Technologies witnessed a strong Q3, with net profit surging 34.9% YoY to Rs 90 crore. Revenue from operations also grew by 32.6%, touching Rs 290 crore.
Spandana Sphoorty
The microfinance firm posted a significant loss of Rs 393.9 crore in Q3, a sharp decline from a Rs 127 crore profit in the same period last year. Assets under management saw a 14% YoY drop to Rs 8,936 crore.
The Spandana Sphoorty share price fell 4.23%, ending the day at Rs 343.75.
Indian Energy Exchange (IEX)
IEX reported a 17% YoY increase in net profit for Q3 at Rs 107.3 crore. Revenue grew 14.5% to Rs 132 crore during the same period.
Mankind Pharma
Despite a revenue growth of 24%, Mankind Pharma reported a 16.2% YoY decline in Q3 net profit, totaling Rs 380.2 crore.
The share price of Mankind Pharma surged 4.12%, finishing the session at Rs 2,620.00.
Ujjivan Small Finance Bank
Net profit for the Bengaluru-based bank dropped 63.8% YoY to Rs 108.6 crore in Q3, compared to Rs 300 crore in the same quarter last year. However, net interest income grew marginally by 3.2%, reaching Rs 886.7 crore.