Nazara Technologies rises sharply as its board of directors schedules a meeting on January 20 to consider and approve raising funds through a preferential issue of shares.
Punjab & Sind Bank is surging as its net profit grows 146.7% YoY to Rs 282 crore in Q3FY25, helped by lower employee benefits expenses. Revenue increases by 14.6% YoY to Rs 3,269.4 crore, led by improvements in the treasury and corporate banking segments. The bank's asset quality improves as its gross and net NPAs decline by 187 bps YoY and 55 bps YoY, respectively.
Gensol Engineering rises sharply as it partners with Refex Green Mobility (Refex eVeelz) to transfer 2,997 electric four-wheelers valued at Rs 315 crore. Refex eVeelz will integrate these into fleet operations and lease them to Blu-Smart Mobility.
According to a poll of analysts, the weakening Indian rupee could drive up inflation due to more expensive imports. They anticipate the Reserve Bank of India will make policy adjustments at its February meeting, though many now expect the rate cuts to be delayed until April-June. Since Trump's victory, the rupee has depreciated by about 3% against the rising US dollar in just over two months, marking a sharp shift from nearly two years of relative stability and low volatility.GAIL (India) is rising as it enters a settlement agreement with SEFE Marketing & Trading Singapore worth $285 million (~ Rs 2464.4 crore). As per the agreement, the companies will withdraw the arbitration proceedings before the London Court of Arbitration.
Azad Engineering is surging as it bags an order worth $112 million (~ Rs 960 crore) from GE Vernova International, USA, to supply airfoils for advanced gas turbine engines.
Ceat falls sharply as its Q3FY25 net profit drops 46.5% YoY to Rs 97.1 crore due to higher raw material costs and other expenses. However, revenue increases 11.4% YoY to Rs 3,299.9 crore, surpassing the Forecaster estimates by 1%. It appears in a screener of stocks with improving book value over the past two years.
UBS upgrades Indus Towers to a 'Buy' rating with a target price of Rs 425. The brokerage notes the company is steadily adding towers to support Airtel's rural expansion. It adds that Vodafone Idea is paying Rs 800-1000 crore in dues per quarter and expects potential upside as VI increases tower uptake, improving the tenancy ratioOracle Financial Services Software falls sharply as its Q3FY25 net profit declines 6.3% QoQ to Rs 541.3 crore due to higher employee benefits, travel, and professional expenses. However, revenue grows 0.4% QoQ to Rs 1,784.9 crore, helped by an improvement in the product licenses and related activities segment. It shows up in a screener of stocks with growing costs YoY for long-term projects.
Rail Vikas Nigam rises sharply as it receives a Rs 3,622.1 crore contract from Bharat Sanchar Nigam (BSNL) for BharatNet's middle-mile network. The project is under a design-build-operate-maintain (DBOM) model and involves a three-year construction phase and 10-year maintenance.
AXISCADES Technologies is rising as its board of directors appoints Alfonso Martinez as the Chief Executive Officer (CEO) and Managing Director (MD), effective January 20.
L&T Technology Services surges as its net profit grows 0.9% QoQ to Rs 322.4 crore in Q3FY25. Revenue increases 3.1% QoQ to Rs 2,653 crore, driven by improvements in the sustainability and tech segments. It features in a screener of stocks with PEG lower than industry PEG.
The market opened on an upbeat note. Nifty 50 was trading at 23,335.75 (122.6, 0.5%), BSE Sensex was trading at 77,158.33 (434.3, 0.6%) while the broader Nifty 500 was trading at 21,756.15 (205.0, 1.0%).
Market breadth is surging up. Of the 1,939 stocks traded today, 1,737 were gainers and 178 were losers.
Riding High:
Largecap and midcap gainers today include Rail Vikas Nigam Ltd. (411.15, 10.6%), L&T Technology Services Ltd. (5,244.40, 8.1%) and IDBI Bank Ltd. (79.63, 7.9%).