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Nifty 50 closed at 23,203.20 (-108.6, -0.5%) , BSE Sensex closed at 76,619.33 (-423.5, -0.6%) while the broader Nifty 500 closed at 21,680.25 (-34.3, -0.2%). Market breadth is neutral. Of the 2,394 stocks traded today, 1,205 were gainers and 1,152 were losers.

Indian indices closed lower, with the benchmark Nifty 50 index closing at 23,202 points. The Indian volatility index, Nifty VIX, rose 1.8% and closed at 15.8 points. Infosys' net profit grew 4.6% QoQ to Rs 6,806 crore in Q3FY25, while revenue increased 1.9% QoQ to Rs 41,764 crore.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green. S&P BSE Energy and Nifty Oil & Gas closed higher. According to Trendlyne’s sector dashboard, Fertilizers emerged as the best-performing sector of the day, with a rise of 2.3%.

European indices are trading higher. Major Asian indices closed mixed. US index futures are trading in the green, indicating a positive start to the trading session. Truist Financial Corp, Schlumberger NV, Fastenal, and Wipro are set to report their earnings later today.

• Money flow index (MFI) indicates that stocks like Minda Corp, PTC Industries, and Equitas Small Finance Bank are in the overbought zone.

• Steel Strips Wheels falls sharply as its revenue declines by 3.2% YoY to Rs 1,074.7 crore in Q3FY25, missing Forecaster estimates by 2.9%. Net profit drops by 19.7% YoY to Rs 477.1 crore during the quarter. It appears in a screener of stocks near their 52-week low.

• Geojit BNP Paribas maintains its 'Buy' call on Avenue Supermarts with a target price of Rs 4,107 per share. This indicates a potential upside of 13.4%. The brokerage believes the company's strong balance sheet and operational efficiency will support ongoing store expansions, helping revenue growth. It expects the firm's revenue to grow at a CAGR of 17.6% over FY25-27.

• AstraZeneca Pharma India gets approval from the Central Drugs Standard Control Organisation (CDSCO) to import and sell Eculizumab (Soliris) in India. The drug treats two rare blood disorders that can lead to blood clots, organ damage, kidney failure, and severe complications.

• OPEC's share of India's crude oil imports increased to 51.5% in 2024, marking its first rise in nine years, while Russia's share remained stable at 36%. India's total oil imports rose by 4.3% YoY to 4.8 million barrels per day. However, Russia's share is expected to decline in 2025 following new US sanctions on Russian producers and tankers.

  OPEC's share in India's annual oil imports rises after 8-year drop https://t.co/qZo07Prsj5pic.twitter.com/7TKTBhh2WK

  — Reuters Asia (@ReutersAsia) January 17, 2025

• Ganesh Housing Corp's Q3FY25 net profit grows 60% YoY to Rs 160.8 crore, helped by inventory destocking, tax returns of Rs 54.8 crore and lower employee benefits, finance, and depreciation & amortisation costs. Revenue increases 44% YoY to Rs 264.1 crore during the quarter. It features in a screener of stocks with improving return on capital employed (RoCE) over the past two years.

• Indian Renewable Energy Development Agency (IREDA) rises as it signs an agreement with six entities to execute and operate the 900 MW Upper Karnali hydro-electric power project in Nepal.

• Aether Industries rises sharply as its net profit surges by 149% YoY to Rs 43.4 crore in Q3FY25, led by inventory destocking. Revenue grows 40% YoY to Rs 233.3 crore, driven by improvements in the large-scale manufacturing, contract manufacturing, and contract research & manufacturing services (CRAMS) segments. It features in a screener of stocks with improving cash flow for the past two years.

• Umang Nahata, CEO of Mastek, highlights the company's target to boost margins by 200 bps to 19% over the next two years. He anticipates an improvement in performance in Q4, as wage hikes in Q3 impacted margins by 160 bps. Nahata adds that the company is exploring investments in Europe through tuck-in acquisitions.

  #OnCNBCTV18 | Aspiration is to improve margin by 200 bps to 19% in the next 2 yrs, expect Q4 to have better growth than Q3; Umang Nahata, Mastek says pic.twitter.com/HGiKz0uwNy

  — CNBC-TV18 (@CNBCTV18Live) January 17, 2025

• C.E. Info Systems (MapMyIndia) partners with Qualcomm Technologies to develop advanced automotive solutions under the ‘Make in India’ initiative. MapMyIndia will use Qualcomm's Snapdragon auto connectivity platform to create cost-effective telematics, enhancing connectivity and safety for the mass market.

• Metro Brands is falling as its Q3FY25 net profit declines 3.3% YoY to Rs 94.6 crore, caused by higher employee benefits, finance, and depreciation & amortisation expenses. However, revenue grows 11.5% YoY to Rs 726.3 crore, helped by increased sales due to the festive and wedding season. It appears in a screener of stocks where promoters have reduced their shareholding by more than 2% QoQ.

• Havells India rises as its revenue grows by 10.8% YoY to Rs 4,889 crore in Q3FY25, driven by an increase in switchgear, cables, lighting & fixtures, electrical consumer durables, and Lloyd consumer segments. However, net profit falls by 3.3% YoY to Rs 278.3 crore due to higher raw material, employee benefits, and depreciation & amortisation expenses. It appears in a screener of stocks where mutual funds increased their holding in the past quarter.

• The World Bank, in its Global Economic Prospects report, states that India will continue to be the world's fastest-growing economy over the next two years despite a slowdown. It maintains its previous growth forecast of 6.7% for FY26. The report also highlights that GDP growth in the broader South Asian region will likely reach 6.2% in 2025 and 2026, primarily driven by India's strong performance.

  India’s economy expected to grow by 6.5% in FY25, says World Bank in its Global Economic Prospects report.
  
  For the latest news and updates, visit: https://t.co/by4FF5oyu4pic.twitter.com/cn9Jmh82wB

  — NDTV Profit (@NDTVProfitIndia) January 17, 2025

• AIA Engineering's board of directors approves setting up two Hi-Chrome Grinding Media manufacturing facilities in China and Ghana with a capacity of 50,000 million tonnes per annum (MTPA) each and a capex of $50 million (~ Rs 432.9 crore) through its subsidiary, Vega Industries (Middle East). The company is also considering setting up similar facilities in Indonesia and other locations.

• Capital Infra Trust’s shares debut on the bourses at a 1% discount to the issue price of Rs 100. The Rs 1,578 crore IPO received bids for 2.8 times the total shares on offer.

• Hatsun Agro Products falls sharply as its Q3FY25 net profit declines 28.7% YoY to Rs 40.9 crore due to higher employee benefits, finance, and depreciation & amortisation expenses. However, revenue grows 6.4% YoY to Rs 2,012 crore during the quarter. It shows up in a screener of stocks near their 52-week lows.

• UBS upgrades APL Apollo Tubes to a 'Buy' rating with a higher target price of Rs 1,900. The brokerage believes the company could positively surprise the market with sustained demand momentum. It also notes that hot rolled coils (HRC) prices, which are typically inversely correlated with APL volumes, have dropped around 14% YoY in the last 6 months, which is positive for the company’s volume growth.

  #MarketsWithBS | #APLApolloTubes sees a 3.3% rise in shares, marking its fourth consecutive gain, driven by strong Q3 performance. #UBS upgrades the stock to 'Buy' with a target of Rs 1,900, highlighting sustained demand momentum and positive market share gains.@GuptaSirali… pic.twitter.com/uIljwHxfs3

  — Business Standard (@bsindia) January 17, 2025

• HFCL secures an advance work order worth Rs 2,501.3 crore from Bharat Sanchar Nigam (BSNL) for BharatNet Phase III in Punjab. The project involves design, construction, and maintenance and has a three-year construction timeline.

• Bajaj Healthcare surges more than 10% as it receives exclusive rights from Threotech to manufacture, distribute and sell the finished formulation of Magnesium L Threonate. The drug is used to treat depression, Alzheimer's disease, and age-related memory loss and has a market size of $438 million.

• Bharat Petroleum Corp rises as it finalises a Rs 31,802 crore loan from an SBI-led consortium to fund a petrochemical complex and expand refinery capacity at Bina, Madhya Pradesh. The consortium includes the State Bank of India, Punjab National Bank, Union Bank of India, Canara Bank, Bank of India, and Export-Import Bank of India.

• Citi initiates a 'Buy' rating on Aadhar Housing Finance with a target price of Rs 565. The brokerage expects steady growth in assets under management (AUM) at a 16% CAGR over the next 4-6 years and highlights its diversified distribution. Meanwhile, it points out the risks of promoter dilution and the increasing share of informal self-employed borrowers.

  #BrokerageRadar | Citi on Aadhar Financing: Initiates Buy with a ?565 target, expecting 22% PAT growth and RoE to scale to 16.5%.@Citipic.twitter.com/MSrC4o0dM1

  — ET NOW (@ETNOWlive) January 17, 2025

• LTIMindtree is falling sharply as its net profit declines 13.2% QoQ to Rs 1,085.4 crore in Q3FY25, helped by lower finance costs. Revenue grows 1.5% QoQ to Rs 9,873.4 crore, led by improvements in the banking, financial services, & insurance (BFSI), manufacturing & resources, consumer business, and healthcare, life sciences & public services segments. It shows up in a screener of stocks where insiders sold their stakes.

• Reliance Industries is rising as its revenue grows by 7% YoY to Rs 2.4 lakh crore in Q3FY25, driven by improvements in the oil to chemicals (O2C), retail and digital services segments. Net profit rises 7.4% YoY to Rs 18,540 crore, surpassing the Forecaster estimates by 3.1%. It features in a screener of stocks outperforming their industry price change in the quarter.

• Axis Bank is falling sharply as its Q3FY25 net profit misses Forecaster estimates by 2.6%, despite growing 3.8% YoY to Rs 6,303.8 crore. Revenue increases 10.2% YoY to Rs 36,926.1 crore, helped by improvements in the treasury, corporate, and retail banking segments. The bank's asset quality improves as its gross NPA declines by 12 bps YoY.

• Infosys' net profit grows 4.6% QoQ to Rs 6,806 crore in Q3FY25. Revenue increases 1.9% QoQ to Rs 41,764 crore, attributed to improvements in the financial services, retail, communication, energy, utilities, resources & services, manufacturing, hi-tech, and life sciences segments. It features in a screener of stocks with increasing net profit and profit margin (QoQ).

• Nifty 50 was trading at 23,184.10 (-127.7, -0.6%), BSE Sensex was trading at 77,069.19 (26.4, 0.0%) while the broader Nifty 500 was trading at 21,609.95 (-104.6, -0.5%).

• Market breadth is sharply down. Of the 1,902 stocks traded today, 616 were on the uptrend, and 1,232 went down.

Riding High:

Largecap and midcap gainers today include IDBI Bank Ltd. (84.01, 5.5%), Hindustan Aeronautics Ltd. (4,116.60, 5.1%) and Macrotech Developers Ltd. (1,176.95, 4.3%).

Downers:

Largecap and midcap losers today include Infosys Ltd. (1,815.45, -5.9%), PB Fintech Ltd. (1,724.40, -4.9%) and Axis Bank Ltd. (991.05, -4.5%).

Crowd Puller Stocks

14 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included BLS International Services Ltd. (501.85, 11.2%), NBCC (India) Ltd. (95.31, 8.5%) and Gujarat State Fertilizer & Chemicals Ltd. (208.86, 7.4%).

Top high volume losers on BSE were Axis Bank Ltd. (991.05, -4.5%), Aether Industries Ltd. (821.65, -3.8%) and Sonata Software Ltd. (571, -2.5%).

Gujarat State Petronet Ltd. (364, 3.7%) was trading at 53.8 times of weekly average. Go Digit General Insurance Ltd. (290.70, -0.4%) and Bharat Dynamics Ltd. (1,276.25, 6.2%) were trading with volumes 14.1 and 4.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

1 stock made 52 week highs, while 4 stocks were underachievers and hit their 52 week lows.

Stock touching their year highs included - Biocon Ltd. (393.70, 0.1%).

Stocks making new 52 weeks lows included - Axis Bank Ltd. (991.05, -4.5%) and Relaxo Footwears Ltd. (579.75, 0.5%).

17 stocks climbed above their 200 day SMA including Bharat Dynamics Ltd. (1,276.25, 6.2%) and Manappuram Finance Ltd. (193.75, 5.8%). 11 stocks slipped below their 200 SMA including Kotak Mahindra Bank Ltd. (1,758.60, -2.6%) and Tata Consultancy Services Ltd. (4,124.30, -2.0%).

Nifty 50 closed at 23,311.80 (98.6, 0.4%), BSE Sensex closed at 77,042.82 (318.7, 0.4%) while the broader Nifty 500 closed at 21,714.55 (163.4, 0.8%). Market breadth is overwhelmingly positive. Of the 2,393 stocks traded today, 1,749 were in the positive territory and 609 were negative.

Indian indices closed higher, with the benchmark Nifty 50 index closing at 23,311.8 points. The Indian volatility index, Nifty VIX, rose 1.3% and closed at 15.5 points. Bharat Dynamics closed sharply higher as it bagged an order worth Rs 2,960 crore from the Ministry of Defence to supply medium-range surface-to-air missiles for the Indian Navy.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green. Nifty Metal and Nifty PSU Bank closed higher. According to Trendlyne’s sector dashboard, Transportation emerged as the best-performing sector of the day, with a rise of 2.3%.

European indices are trading higher, except for Spain’s IBEX 35 and Germany’s DAX. Major Asian indices closed mixed. US index futures are trading mixed, indicating a cautious start to the trading session. Bank of America, Morgan Stanley, U.S. Bancorp, and UnitedHealth Group are set to report their earnings later today.

• L&T Technology Services sees a long buildup in its January 30 futures series, with open interest increasing by 23.8% and a put-call ratio of 0.7.

• Mastek's revenue rises 10.9% YoY to Rs 869.5 crore in Q3FY25, driven by improvements in the UK & Europe and North Americas operations. Net profit grows 25.8% YoY to Rs 94.7 crore during the quarter. It features in a screener of stocks with increasing net profit and profit margin (QoQ).

• Alok Industries is falling as its net loss expands by 18.7% YoY to Rs 273 crore in Q3FY25 due to higher finance and power & fuel costs. Revenue plunges 30.5% YoY to Rs 870.6 crore during the quarter. It shows up in a screener of stocks with low Piotroski scores.

• HDFC Life Insurance surges as its net profit grows 14.6% YoY to Rs 421.3 crore in Q3FY25. However, revenue declines 36.5% YoY to Rs 16,979.3 crore, impacted by lower earnings from funds managed under the shareholders’ account. It shows up in a screener of stocks where mutual funds increased their holding in the past quarter.

• Bernstein notes that 2024 was a strong year for internet companies, with the sector delivering over 50% returns. The brokerage expects this trend to continue in 2025. It has an 'Outperform' rating on Zomato, Swiggy, and Info Edge, with target prices of Rs 315, Rs 635, and Rs 8,630, respectively.

  #Bernstein initiates coverage on internet companies.
  
  For more, visit our Research Reports section: https://t.co/x9gNkEkYp6pic.twitter.com/Izy5GtzRv3

  — NDTV Profit (@NDTVProfitIndia) January 16, 2025

• Sterling & Wilson Renewable Energy surges as it posts a net profit of Rs 14.8 crore in Q3FY25 compared to a net loss of Rs 63.8 crore in Q3FY24, helped by lower employee benefits and finance costs. Revenue grows 3x YoY to Rs 1,842.7 crore, driven by improvements in the engineering, procurement & construction (EPC) and operation & maintenance service segments. It features in a screener of stocks with decreasing promoter pledges.

• DB Corp is falling as its net profit declines 4.7% YoY to Rs 118.2 crore in Q3FY25. Revenue falls 1.4% YoY to Rs 655.6 crore, impacted by the printing, publishing and allied businesses. It shows up in a screener of stocks with weakening technicals and share price decline.

• Gland Pharma receives an establishment inspection report (EIR) from the US FDA following a good manufacturing practices (GMP) inspection at its Dundigal facility in Hyderabad in July 2024, marking the closure of the inspection.

• Ashwani Kumar, Managing Director & CEO of UCO Bank, states the bank has received approval from the Government of India to raise Rs 2,000 crore through a QIP, which will result in a 3% reduction in the government’s stake. He adds that the bank aims to achieve a 75% credit-deposit (CD) ratio, a target in line with their previous guidance.

  #OnCNBCTV18 | 'Have got approval from Government of India for raising 2000cr via #QIP' says Ashwani Kumar, Managing Director & CEO, #UCOBank. Tells @blitzkreigm & @Nigel__DSouza that they are speaking to domestic institutional investors
  
  WATCH:https://t.co/xj6yXVcb4n

  — CNBC-TV18 (@CNBCTV18News) January 16, 2025

• Indian Railway Finance Corp rises sharply after signing a Rs 250 crore lease agreement with NTPC to finance eight bogie open bottom rapid (BOBR) rakes. This marks the first phase of funding for 20 rakes under the General Purpose Wagon Investment Scheme (GPWIS).

• Bharat Dynamics rises sharply as it bags an order worth Rs 2,960 crore from the Ministry of Defence (MoD) to supply medium-range surface-to-air missiles (MRSAM) for the Indian Navy.

• EMS is rising sharply as it bags an order worth Rs 105.1 crore from Deltabulk Shipping India to develop, operate, and maintain the Multimodal Logistics Park (MMLP) in Nagpur on a design, build, finance, operate, and transfer (DBFOT) basis.

• Rubicon Research, a leading player in the pharma sector, plans to raise Rs 500 crore through an initial public offering (IPO) to support inorganic growth, strategic initiatives, and loan repayment. The company recently acquired Alkem Laboratories' Pithampur (Madhya Pradesh) facility for Rs 149 crore through a slump sale.

  Rubicon plans to raise ?500 crore through IPO, focusing on inorganic growth to expand its market presence and business operations. https://t.co/TbHgvgRFhp

  — businessline (@businessline) January 16, 2025

• 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.

  Plummeting rupee could delay RBI's rate cut plans this Februarayhttps://t.co/jo6cJgqce9

  — Economic Times (@EconomicTimes) January 16, 2025

• 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 ratio.

  #BrokerageRadar | UBS on Indus Towers: Upgrade to Buy, target price at ?425 (From 440)@ubs#IndusTowers#StockMarketpic.twitter.com/KPEa0JJSC7

  — ET NOW (@ETNOWlive) January 16, 2025

• Oracle 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%).

Downers:

Largecap and midcap losers today include Oracle Financial Services Software Ltd. (10,189.85, -3.4%), Trent Ltd. (6,211.55, -2.8%) and Dr. Reddy's Laboratories Ltd. (1,302.75, -2.6%).

Movers and Shakers

24 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Ircon International Ltd. (220.41, 16%), Jupiter Wagons Ltd. (494.75, 14.2%) and Gujarat Mineral Development Corporation Ltd. (326.90, 11.7%).

Top high volume losers on BSE were Oracle Financial Services Software Ltd. (10,189.85, -3.4%), Ceat Ltd. (3,044, -0.4%) and Endurance Technologies Ltd. (2,070, -0.3%).

L&T Technology Services Ltd. (5,244.40, 8.1%) was trading at 8.3 times of weekly average. HDFC Life Insurance Company Ltd. (641.40, 7.9%) and Punjab & Sind Bank (49.48, 6.9%) were trading with volumes 8.1 and 8.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

1 stock took off, crossing 52 week highs, while 4 stocks tanked below their 52 week lows.

Stock touching their year highs included - Biocon Ltd. (393.15, 2.9%).

Stocks making new 52 weeks lows included - Asian Paints Ltd. (2,215.60, -0.6%) and Relaxo Footwears Ltd. (579.10, 0.4%).

21 stocks climbed above their 200 day SMA including L&T Technology Services Ltd. (5,244.40, 8.1%) and HDFC Life Insurance Company Ltd. (641.40, 7.9%). 8 stocks slipped below their 200 SMA including Oracle Financial Services Software Ltd. (10,189.85, -3.4%) and Kalyan Jewellers India Ltd. (539.20, -2.9%).

Nifty 50 closed at 23,213.20 (37.2, 0.2%), BSE Sensex closed at 76,724.08 (224.5, 0.3%) while the broader Nifty 500 closed at 21,551.20 (70.2, 0.3%). Market breadth is balanced. Of the 2,392 stocks traded today, 1,220 were on the uptick, and 1,128 were down.

Indian indices closed in the green, with the benchmark Nifty 50 index closing at 23,213.2 points. The Indian volatility index, Nifty VIX, declined 1.1% and closed at 15.3 points. HDFC AMC’s Q3FY25 net profit grew by 31% YoY to Rs 641.5 crore, while revenue increased by 26.2% YoY, helped by higher assets under management (AUM).

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, following the benchmark index. S&P BSE Utilities and BSE Power were among the top index gainers today. According to Trendlyne’s Sector dashboard, Retailing emerged as the best-performing sector of the day, with a rise of 2.1%.

Asian indices closed mixed, while European indices are trading in the green, with an exception of Russia’s MOEX & RTSI index. US index futures traded in the green, indicating a positive start to the trading session. Brent crude oil futures are trading in the green. Barclays notes that the S&P 500’s growth in Q4 earnings season depends on technology stocks. It observes that downward revisions for sectors outside tech are 300bps higher than average, signaling bearish sentiment ahead of the reporting season.

• Relative strength index (RSI) indicates that PTC Industries is in the overbought zone.

• NESCO rises as it wins a contract from National Highways Logistics Management to develop, operate, and maintain wayside amenities on the Raipur-Visakhapatnam Expressway. The project is expected to cost Rs 200 crore, with an estimated annual revenue of Rs 300 crore from year four of operations.

• Alembic Pharmaceutical receives final approval from the US FDA for its abbreviated new drug application (ANDA) for Brexpiprazole tablets. The drug is a therapeutic equivalent to Otsuka Pharmaceutical's reference listed drug (RLD), Rexulti tablets, used to treat major depressive disorder (MDD) and schizophrenia. It has an estimated market size of $2 billion for the year ending September 2024.

• Maharashtra Scooters is rising as its net profit surges 3.3X YoY to Rs 3.3 crore in Q3FY25, helped by lower raw material and employee benefit expenses. However, revenue falls by 9.1% YoY to Rs 5.8 crore due to a reduction in the manufacturing segment. The company appears in a screener of stocks where mutual funds increased their holding in the past quarter.

• January crude oil futures reach Rs 6,729 on Multi Commodity Exchange (MCX) during the initial hour of trading after a weekly report by the industry body American Petroleum Institute (API) indicated a decline in inventories by 2.6 million barrels in the US for the week ending January 10.

  #CrudeOil#futures traded higher on Wednesday morning after a weekly report by the industry body American Petroleum Institute (API) indicated a decline in inventories in the US for the week ending January 10.https://t.co/YdaEk2G66y

  — businessline (@businessline) January 15, 2025

• Network18 Media & Investments plunges to its 52-week low of Rs 58.2 per share as its Q3FY25 net loss expands to Rs 1,435.5 crore compared to Rs 58.8 crore in Q3FY24 due to higher finance costs. Revenue declines by 25.3% YoY to Rs 1,442.6 crore, led by lower demand during the festive period and reduced advertising volumes. It shows up in a screener of stocks with high interest payments compared to earnings.

• Premier Energies rises sharply as three subsidiaries secure orders worth Rs 1,460 crore for solar PV cells and modules. These include Rs 1,041 crore to supply modules and Rs 419 crore for cells, starting May 2025.

• NBCC rises sharply as it secures orders worth Rs 405 crore, including projects for Delhi University's Hindu College, Fakir Mohan University in Odisha, and Maharaja Sriram Chandra University in Mayurbhanj.

• BofA Securities upgrades Maruti Suzuki India to a 'Buy' rating with a target price of Rs 14,000. The brokerage highlights that the company started its EV journey with the launch of the 'e-Vitara,' and the Toyota alliance has fueled growth, with combined exports now at 20% of volume. It expects a 7.5% volume CAGR and over 10% revenue CAGR for FY25-27.

  #BrokerageRadar | @BofA_News upgrades Maruti to Buy with a Target Price of ?14,000. pic.twitter.com/tpKE2cKH4n

  — ET NOW (@ETNOWlive) January 15, 2025

• J Kumar Infraprojects is rising as it bags an order worth Rs 1,073.4 crore from NBCC (India) to develop Silicon City Phase-IV Group housing in Sector 76, Noida. The project will be undertaken on an engineering, procurement & construction (EPC) basis, with operations and maintenance for two years.

• HDFC Asset Management rises sharply as its Q3FY25 net profit grows by 31% YoY to Rs 641.5 crore, beating Forecaster estimates by 7.3%. Revenue increases by 26.2% YoY, helped by higher assets under management (AUM). It features in a screener of stocks with rising net cash flow and cash from operating activities.

• Quadrant Future Tek surges to its all-time high of Rs 532.8 per share as it appoints Mohit Vohra and Amit Kumar Jain as its Managing Director (MD) and Chief Executive Officer (CEO), respectively.

• Reports suggest that the Adani Group is in advanced talks with Dubai-based Emaar Properties to acquire a majority stake in its Indian subsidiary, Emaar India, for an estimated Rs 4,000-5,000 crore. The deal will likely involve the acquisition of 70-100% ownership in Emaar India, primarily through Adani Realty, an unlisted entity within the Adani Group.

  Adani Group in advanced talks to acquire majority stake in Emaar India for Rs 5,000 cr: Report
  
  More details here????https://t.co/2B0CA0wgKD#AdaniGroup

  — Moneycontrol (@moneycontrolcom) January 15, 2025

• Indian Railway Finance Corp is rising as it emerges as the lowest bidder to finance Rs 3,167 crore for the Banhardih Coal Block development in Jharkhand. The project will be undertaken by Patratu Vidyut Utpadan Nigam, a joint venture (JV) between NTPC and Jharkhand Bijli Vitran Nigam.

• Sula Vineyards' revenue declines marginally by 0.7% YoY to Rs 217.3 crore in Q3FY25. However, wine tourism revenue grows 11.5% YoY. It features in a screener of stocks with rising net cash flow and cash from operating activities.

• Aether Industries rises as it amends its supply agreement with Baker Hughes. The deal finalizes volume and pricing for two products exclusively manufactured by its subsidiary, Aether Specialty Chemicals.

• According to Trendlyne’s shareholding data, mutual funds substantially raised their stake in One 97 Communications (Paytm) during Q3FY25, reaching an all-time high. By the end of December 2024, 27 mutual funds held an 11.2% stake in Paytm, amounting to 7.1 crore shares. This represents a significant increase from the 7.9% stake held in Q2FY25.

  #MutualFunds significantly increased their stake in #One97Communications, the parent company of #Paytm, during the third quarter of the current fiscal year (Q3FY25) to an all-time high level.https://t.co/XJE99wE085

  — Mint (@livemint) January 15, 2025

• Delta Corp's revenue rises marginally by 0.4% YoY to Rs 235.3 crore in Q3FY25. Net profit grows 3.6% YoY to Rs 35.7 crore, helped by lower raw material and depreciation & amortization expenses. The company appears in a screener of stocks with net profit increasing over the past two quarters.

• Welspun Corp rises sharply as it signs a memorandum of understanding (MoU) with Saudi Aramco to set up a 3.5 lakh MT per annum longitudinal submerged arc welding (LSAW) pipe manufacturing unit in Saudi Arabia.

• Shoppers Stop rises sharply as its revenue rises 11.5% YoY to Rs 1,379.5 crore in Q3FY25. Net profit surges 41.7% YoY to Rs 52.2 crore, helped by inventory destocking. The company features in a screener of stocks with increasing net profit and profit margin (QoQ).

• Nuvama Research expects FTSE to raise Adani Wilmar's weight in the index during its rebalancing today, following the offer for sale by its promoter. This could result in passive inflows of $25 million (approximately Rs 206 crore), equivalent to 7.8 million shares or 1.7 days of trading impact. The research highlights that trading volume mainly drives such events, not just price movements.

  Following Adani Wilmar’s offer for sale by its promoter, FTSE is expected to increase its weight in the index in its rejig today, that could lead to $25 million of passive inflows, Nuvama Research stated.https://t.co/fz6FKE6uaJ

  — businessline (@businessline) January 15, 2025

• Aditya Birla Fashion and Retail's board of directors approves raising Rs 2,400 crore through a qualified institutional placement (QIP) and a preferential issue of 8.1 crore shares. The board sets the issue price at Rs 272.4 for the QIP and Rs 317.5 for the preferential issue.

• Adani Green Energy rises sharply as it expands its operational renewable capacity to 11,666.1 MW. This follows the commissioning of a 57.2 MW wind power project in Gujarat under its wind-solar hybrid initiative, operational from January 15.

• Angel One is rising as its net profit grows 8.1% YoY to Rs 281.5 crore in Q3FY25, driven by a reduction in fees & commission expenses. Revenue increases 19.1% YoY to Rs 1,263.8 crore, led by improvements in the active client base, number of orders, and average daily turnover (ADTO). It appears in a screener of stocks with a decrease in provisions in recent results.

• HCL Technologies is rising as its Q3FY25 net profit grows 8.4% QoQ to Rs 4,591 crore, beating Forecaster estimates by 0.3%. Revenue increases 3.6% QoQ to Rs 30,367 crore, helped by improvements in the IT & business services, engineering & R&D services, and HCL Software segments. It features in a screener of stocks near their 52-week highs with significant volumes.

• Markets are up today morning. Nifty 50 was trading at 23,225.45 (49.4, 0.2%), BSE Sensex was trading at 76,882.06 (382.4, 0.5%) while the broader Nifty 500 was trading at 21,536.80 (55.8, 0.3%).

• Market breadth is highly positive. Of the 1,918 stocks traded today, 1,426 were gainers and 449 were losers.

Riding High:

Largecap and midcap gainers today include Thermax Ltd. (4,014.90, 7.5%), Phoenix Mills Ltd. (1,656.90, 5.5%) and FSN E-Commerce Ventures Ltd. (172.77, 4.8%).

Downers:

Largecap and midcap losers today include Central Bank of India (51.32, -7.3%), Indian Overseas Bank (49.91, -7.2%) and UCO Bank (42.41, -6.3%).

Crowd Puller Stocks

23 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Newgen Software Technologies Ltd. (1,755.90, 11.5%), Devyani International Ltd. (193.29, 8.4%) and Alok Industries Ltd. (20.88, 8.1%).

Top high volume losers on BSE were Central Bank of India (51.32, -7.3%), Cello World Ltd. (669, -2.3%) and Birla Corporation Ltd. (1,155.20, -1.8%).

Vardhman Textiles Ltd. (474.80, 3.0%) was trading at 51.5 times of weekly average. Shoppers Stop Ltd. (625.10, 0.8%) and Welspun Living Ltd. (150.99, 2.7%) were trading with volumes 17.3 and 13.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

1 stock took off, crossing 52 week highs, while 9 stocks hit their 52 week lows.

Stock touching their year highs included - Newgen Software Technologies Ltd. (1,755.90, 11.5%).

Stocks making new 52 weeks lows included - Asian Paints Ltd. (2,229.70, -0.5%) and Kansai Nerolac Paints Ltd. (243, -0.2%).

25 stocks climbed above their 200 day SMA including Phoenix Mills Ltd. (1,656.90, 5.5%) and Zomato Ltd. (243.90, 4.4%). 10 stocks slipped below their 200 SMA including Kalyan Jewellers India Ltd. (555.10, -6.9%) and Bajaj Finserv Ltd. (1,671.65, -2.4%).

Nifty 50 closed at 23,085.95 (-345.6, -1.5%), BSE Sensex closed at 76,384.73 (-994.2, -1.3%) while the broader Nifty 500 closed at 21,243.45 (-555.6, -2.6%). Market breadth is sharply down. Of the 2,446 stocks traded today, 196 were on the uptick, and 2,223 were down.

Indian indices closed lower, with the benchmark Nifty 50 index closing at 23,086 points. The Indian volatility index, Nifty VIX, rose 7.2% and closed at 16 points. The market declined after the US imposed sanctions against producers, insurers, and vessels dealing in Russian crude.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, tracking the benchmark index. Nifty Media and Nifty Realty were among the worst-performing indices of the day. According to Trendlyne’s sector dashboard, Fertilizers emerged as one of the worst-performing sector of the day, with a fall of 6%.

European indices are trading lower, except Russia’s RTSI and MOEX indices, trading 1.6% higher each. Major Asian indices closed in the red. US index futures are trading lower, indicating a cautious start to the trading session in anticipation of the inflation data set to be released on Wednesday.

• Money flow index (MFI) indicates that stocks like PTC Industries, Lloyds Metals & Energy, SRF, and Vijaya Diagnostic Centre are in the overbought zone.

• Puravankara's customer collections from the real estate business grow by 6% YoY to Rs 993 crore Q3FY25. The company achieves pre-sales of Rs 1,265 crore, 2% higher than Q3FY24.

• Afcom Holdings secures a long-term contract with Etihad Airways to operate regular flights for cargo between Chennai and Male.

• GR Infraprojects emerges as the lowest bidder for a contract worth Rs 1,947 crore from Maharashtra State Road Development Corp (MSRDC) to construct the access-controlled Pune Ring Road from Sonori to Garade. The company will undertake the project on an engineering, procurement, and construction (EPC) basis and expects to complete it in the next three years.

• Sharekhan selects SBI as its top pick for 2025. The brokerage has given the stock a 'Buy' rating with a target price of Rs 975. It expects advances to grow by 13% YoY, and projects net interest margins (NIMs) to remain slightly lower QoQ. The brokerage also anticipates that SBI's asset quality will remain broadly stable in Q3FY25.

  SBI Share Price: Top preferred pick by Sharekhan for 2025; know why and check targethttps://t.co/ZfBvawIuyz

  — ET NOW (@ETNOWlive) January 13, 2025

• Interarch Building Products bags two orders worth Rs 221 crore from Tata Semiconductor Assembly & Testing and Agratas Energy Storage Solutions. The Tata Semiconductor order is for its semiconductor facility in Assam, while the Agratas Energy order is to set up its lithium-ion battery manufacturing unit in Gujarat.

• Indraprastha Gas falls as its board appoints Sukhmal Kumar Jain as the company's new Chairman, succeeding RK Jain, effective January 14.

• NBCC (India) signs a memorandum of understanding (MoU) with Sarkari Awas Nirman Avam Vitt Nigam to develop 588 acres of land in Lucknow for mixed use. Under Phase 1 of the project, NBCC will develop 50 acres of land valued at ~Rs 3,500 crore.

• Waaree Renewable Technologies falls 20% after Dilip Panjwani tendered his resignation as chief financial officer (CFO), citing personal reasons. Exchanges have put the securities of Waaree Renewable Tech under the long-term ASM (Additional Surveillance Measure) framework to caution investors about high volatility in share prices.

  #MarketToday | Waaree Renewable shares extend fall, dive 20% today; here's why https://t.co/292kiN4xs7

  — Business Today (@business_today) January 13, 2025

• Brigade Enterprises signs a memorandum of understanding (MoU) with Technopark to develop a World Trade Centre and a business hotel in Thiruvananthapuram. The company plans to invest ~Rs 1,500 crore in Kerala's IT infrastructure in coming years.

• Varroc Engineering receives approval from the National Company Law Tribunal (NCLT) to merge its subsidiary, Varroc Polymers with itself.

• Ola Electric Mobility falls as the Central Consumer Protection Authority (CCPA) seeks additional documents to investigate alleged consumer rights violations, misleading advertisements, and unfair trade practices following a show-cause notice on October 8, 2024.

• Adani Wilmar falls over 6%, continuing its decline from Friday. Its promoter, Adani Commodities, announced a stake sale via an offer for sale (OFS) route on January 10, 2025, at a floor price of Rs 275. Over the past two days, the edible oil company's stock has dropped by over 17%.

  #MarketsWithBS | Adani Wilmar stocks fall below OFS floor price; at lowest level since Feb'22#AdaniWilmar#markets#sharemarket#StockMarketIndiahttps://t.co/Co1lSPg478

  — Business Standard (@bsindia) January 13, 2025

• ICICI Lombard General Insurance receives an income tax refund of Rs 174.6 crore from the Income Tax (IT) Department for FY13 and FY16-18.

• Poly Medicure forms a joint venture with AMPIN C&I Power to establish a solar power project in Haryana. The project will serve as a captive power source for Poly Medicure's facility, with AMPIN holding 74% and Poly Medicure 26%.

• Motilal Oswal maintains its 'Buy' call on Tata Consultancy Services with a target price of Rs 5,000 per share. This indicates a potential upside of 16.4%. The brokerage believes the company's recovery in discretionary client spending and strengthening of the US economy will help in revenue growth. It expects the firm's revenue to grow at a CAGR of 7.1% over FY25-27.

• HDFC AMC to release its quarterly results on January 14. Motilal Oswal anticipates a revenue growth of 35.7% YoY, with EBITDA expected to rise by 41.1% YoY. The net profit is projected to increase by 23.9% YoY, reaching Rs 606.7 crore. The brokerage expects equity assets under management (AUM) to continue its growth trend, driven by improved fund performance, though it anticipates a sequential decline in yields.

  HDFC AMC is set to release its December quarter results tomorrow, January 14.https://t.co/PIwpvoex5v

  — ETMarkets (@ETMarkets) January 13, 2025

• JSW Energy's subsidiary, JSW Neo Energy, acquires three special purpose vehicles (SPVs) with a total capacity of 125 MW from Hetero Group at an enterprise value of Rs 630 crore.

• Standard Glass Lining Technology’s shares debut on the bourses at a 22.9% premium to the issue price of Rs 140. The Rs 410.1 crore IPO received bids for 183.2 times the total shares on offer.

• Avenue Supermarts falls sharply as its net profit misses Forecaster estimates by 16% despite growing 4.8% YoY to Rs 723.7 crore in Q3FY25. Revenue rises by 17.6% YoY to Rs 15,996.7 crore, helped by new store additions. It appears in a screener of stocks near their 52-week lows.

• Indian oil companies such as HPCL and BPCL witness a decline of over 2% as Brent crude prices surge above $81 per barrel, reaching their highest level in over four months. This increase comes amid expectations that broader US sanctions will impact Russian crude exports to major buyers like China and India. Since January 8, Brent and WTI have risen by more than 6%, with the surge following the imposition of expanded US Treasury sanctions on Russian oil.

  #CNBCTV18Market | Oil on the Boil
  
  From #HPCL to #BPCL — Here's how #crudeoil sensitive stocks are reacting to a rise in #Brent prices@senmeghna | #StockMarket#stockmarketindia#StocksToTrade#StocksInFocus#StocksToFocus#OOTT#Crude#OOTThttps://t.co/HzL87c5AFx

  — CNBC-TV18 (@CNBCTV18News) January 13, 2025

• Just Dial is plunging as its net profit declines by 14.8% QoQ to Rs 131.3 crore in Q3FY25, missing Forecaster estimates by 8.4%. Revenue falls by 8.5% QoQ to Rs 364.7 crore due to a reduction in total traffic during the quarter. It shows up in a screener of stocks with high promoter pledges.

• Waaree Energies rises as it signs a share purchase agreement with Enel Green Power Development to acquire a 100% stake in its subsidiary, Enel Green Power India for up to Rs 792 crore.

• Godrej Properties launches its first premium residential project in Hyderabad, Godrej Madison Avenue. The project offers 12 lakh sq. ft. of saleable area with 3 and 4 BHK apartments, estimated at Rs 1,300 crore in booking value.

• PCBL falls sharply as its net profit declines 37.1% YoY to Rs 93.1 crore in Q3FY25 due to higher raw material prices, employee benefits, and finance costs. However, revenue grows by 21.5% YoY to Rs 2,021.1 crore, driven by improvement in the carbon black and chemicals segments. It appears in a screener of stocks with declining return on equity (RoE) over the past two years.

• Gloom in markets in early trading. Nifty 50 was trading at 23241.70 (-189.8, -0.8%) , BSE Sensex was trading at 76582.18 (-796.7, -1.0%) while the broader Nifty 500 was trading at 21564.75 (-234.3, -1.1%)

• Market breadth is sharply down. Of the 2030 stocks traded today, 291 were on the uptrend, and 1695 went down.

Riding High:

Largecap and midcap gainers today include Aditya Birla Capital Ltd. (169.84, 1.3%), Biocon Ltd. (365.20, 1.2%) and Axis Bank Ltd. (1,049.30, 0.8%).

Downers:

Largecap and midcap losers today include Adani Wilmar Ltd. (262, -10%), Macrotech Developers Ltd. (1,165.30, -9.2%) and Rail Vikas Nigam Ltd. (357.95, -9.0%).

Volume Shockers

22 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Prism Johnson Ltd. (162.18, 7.2%), Piramal Pharma Ltd. (232.65, 5.2%) and Crisil Ltd. (5,806.35, 2.3%).

Top high volume losers on BSE were Just Dial Ltd. (899.30, -13.1%), PCBL Ltd. (351.85, -10.0%) and Adani Wilmar Ltd. (262, -10%).

Happiest Minds Technologies Ltd. (718.50, 1.7%) was trading at 7.2 times of weekly average. Aditya Birla Capital Ltd. (169.84, 1.3%) and KEI Industries Ltd. (3,974.95, -4.8%) were trading with volumes 5.2 and 5.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

2 stocks hit their 52 week highs, while 80 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - HCL Technologies Ltd. (1,989.40, -0.3%) and Krishna Institute of Medical Sciences Ltd. (617.85, -4.9%).

Stocks making new 52 weeks lows included - ACC Ltd. (1,859.45, -3.7%) and Asian Paints Ltd. (2,252.65, -2.9%).

3 stocks climbed above their 200 day SMA including Tata Consultancy Services Ltd. (4,291.10, 0.6%) and Indian Renewable Energy Development Agency Ltd. (199.88, -0.6%). 57 stocks slipped below their 200 SMA including PCBL Ltd. (351.85, -10.0%) and Macrotech Developers Ltd. (1,165.30, -9.2%).

Nifty 50 closed at 23,431.50 (-95, -0.4%), BSE Sensex closed at 77,378.91 (-241.3, -0.3%) while the broader Nifty 500 closed at 21,799 (-247.6, -1.1%). Market breadth is highly negative. Of the 2,397 stocks traded today, 358 were in the positive territory and 2,020 were negative.

Indian indices closed lower, with the benchmark Nifty 50 index closing at 23,440 points. The Indian volatility index, Nifty VIX, rose 1.7% and closed at 14.9 points. Tata Consultancy Services closed deep in the green as its net profit grows 3.4% QoQ to Rs 12,380 crore in Q3FY25, revenue decreases marginally QoQ to Rs 63,973 crore.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red. Nifty Media and BSE Power closed lower. According to Trendlyne’s sector dashboard, Software & Services emerged as the best-performing sector of the day, with a rise of 2.3%.

European indices are trading mixed. Major Asian indices closed mixed. US index futures are trading lower, indicating a cautious start to the trading session in anticipation of the unemployment data set to be released later today.

• Relative strength index (RSI) indicates that stocks like PTC Industries, SRF, Lloyds Metals & Energy, and Navin Fluorine International are in the overbought zone.

• CESC falls sharply as its net profit declines 5.7% YoY to Rs 265 crore in Q3FY25. Its revenue rises 9.8% YoY to Rs 3,561 crore but misses Forecaster estimates by 2.7%. The company appears in a screener of stocks with profits declining from last two quarters.

• Shilpa Medicare receives marketing authorization in Portugal, Europe, for Tadalafil Orodispersible Films (20 mg), used to treat erectile dysfunction. The European market for this drug is valued at approximately $400 million (around Rs 3,437.2 crore).

• Indegene enters a partnership with CliniOps to speed up the process of clinical trials. Under the partnership, Indegene will provide its expertise in patient recruitment and data services, using CliniOps' Unified platform to streamline data collection.

• IndusInd Bank declines over 4% as Goldman Sachs downgrades its rating to 'Neutral' with a lower target price of Rs 1,090. The brokerage anticipates consolidation in the bank's credit growth and consumer retail for households due to increased leverage. It adds that higher credit costs are a concern, as various loan segments are experiencing a credit downcycle.

  Stock In Focus | #IndusIndBank slumps after #GoldmanSachs downgrades the stock to Neutral and cuts the target price to Rs 1,090. The brokerage says they expect further impact of rising delinquencies in commercial retail portfolio & slower loan growth for the bank @kothariabhishekpic.twitter.com/YM9HA0asl2

  — CNBC-TV18 (@CNBCTV18News) January 10, 2025

• Delta Corp rises sharply as the Supreme Court stays GST proceedings on Rs 1.1 lakh crore show cause notices to online gaming firms, providing relief until the apex court reaches a final decision.

• Syrma SGS Technology partners with MSI as its manufacturing partner in India to produce laptops for the Indian market. Under this partnership the company will assemble laptops for MSI at its Chennai facility.

• Geojit BNP Paribas upgrades PVR INOX to 'Buy' from 'Accumulate' but lowers the target price to Rs 1,437 per share. This indicates a potential upside of 24.9%. The brokerage expects the company's profitability to improve, led by festive demand and the release of blockbuster and franchise movies combined with its initiative to revive footfalls and reduce costs. It expects the firm's revenue to grow at a CAGR of 9.5% over FY25-26.

• Sundararaman Ramamurthy, CEO of BSE, believes India’s record capital-raising momentum will continue in 2025, driven by a strong pipeline of companies planning to go public. He notes that over 90 companies have already submitted their draft prospectus to the regulator, aiming to raise an estimated Rs 1 lakh crore ($11.7 billion) this year.

  India's BSE expects record-breaking IPO run to continue unabated in 2025, CEO says https://t.co/fgoFhH3JcNpic.twitter.com/5Grg6XlP85

  — Reuters Asia (@ReutersAsia) January 10, 2025

• Hindustan Copper announces the reopening of the Rakha Copper Mine in Jharkhand after over two decades. The mine, along with a new Chapri underground mine and concentrator plant, will be developed by South West Mining (SMWL) under a Rs 2,700 crore project.

• Aditya Birla Fashion and Retail's board of directors schedules a meeting for January 15 to consider a proposal to raise funds via a qualified institutional placement (QIP) of equity shares or other methods.

• Neogen Chemicals is falling as the National Company Law Tribunal (NCLT) approves the merger of its subsidiary, Buli Chemicals India, with itself.

• The National Restaurant Association of India (NRAI) reportedly opposes e-commerce platforms Zomato and Swiggy's "private labelling" efforts as they venture into quick commerce food delivery via separate apps. NRAI plans to file complaints with regulators, claiming that these practices violate fair competition principles and pose a threat to restaurants nationwide.

  The National Restaurant Association of India has opposed the "private labelling" by e-commerce platforms #Zomato and #Swiggy as they try to enter quick commerce food delivery through separate apps.https://t.co/0KVZ0wGF5x

  — Mint (@livemint) January 10, 2025

• Phoenix Mills rises as its consumption sales rise 21% YoY to Rs 3,998 crore in Q3FY25, driven by a strong festive season performance at PMC Mumbai, PMC Pune, and Phoenix Palassio. Meanwhile, 9MFY25 consumption grows 23% YoY to Rs 10,504 crore.

• Sona BLW Precision Forgings is rising as it signs a memorandum of understanding (MoU) with NMICPS Technology Innovation Hub on Autonomous Navigation Foundation at IIT Hyderabad (TIHAN-IITH) during CES 2025 in Las Vegas, USA. The agreement involves the development of connected, autonomous, and electric technologies for autonomous ground vehicles (AGVs), drones, and electric vertical take-off and landing vehicles (eVTOLs).

• Indian Overseas Bank is falling as it reportedly plans to sell its non-performing assets (NPA) portfolio, consisting of 46 non-performing loans, for Rs 11,500 crore, through an e-auction.

• Macquarie initiates coverage on IRCTC with an 'Outperform' rating and a target price of Rs 900. The brokerage highlights the company has a monopoly in Indian Railways' e-ticketing and catering services, offering a dominant market position. It sees the potential for 2x returns, driven by IRCTC's strategic role in India's railways and high-margin business model.

  #IRCTC gets an 'outperform' rating from Macquarie as the brokerage initiates coveragehttps://t.co/rLQdNedmJv

  — NDTV Profit (@NDTVProfitIndia) January 10, 2025

• Adani Total Gas announces a 20% rise in administered price mechanism (APM) gas allocation, effective January 16, following communication from GAIL (India). This update reverses earlier reductions announced in October and November 2024.

• Vodafone Idea is falling as its board of directors approves allotting 169.3 crore shares to its promoters, Omega Telecom Holdings and Usha Martin Telematics, for Rs 1,910 crore.

• Adani Wilmar falls sharply as its promoter, Adani Commodities, announces plans to sell 17.5 crore shares (13.5% stake) through an offer for sale (OFS) on the stock exchange at a floor price of Rs 275 per share.

• Jefferies expects CY25 to be a key year for earnings growth in the contract development and manufacturing organization (CDMO) sector. However, it also warns that potential slippages could impact the sector's high valuations. The brokerage names Piramal Pharma its top pick and retains a 'Buy' rating with a target price of Rs 310. It upgrades Syngene Int. to a 'Hold' rating and downgrades Gland Pharma to 'Underweight' with target prices of Rs 890 and Rs 1,630, respectively.

  #BrokerageRadar | Jefferies on CDMO Players: CY25 key for earnings; Piramal Pharma top pick at ?310, Syngene upgraded, Gland Pharma downgraded.@Jefferiespic.twitter.com/2mN50HEtz6

  — ET NOW (@ETNOWlive) January 10, 2025

• Polyplex Corp's board of directors approves the capacity expansion of its biaxially oriented polyethylene terephthalate (BOPET) film manufacturing plant by 52,400 million tonnes per annum (MTPA) with a capex of $65 million (~ Rs 558 crore).

• Tata Elxsi plunges to its 52-week low of Rs 5,929.9 per share as its net profit declines by 13.3% QoQ to Rs 199 crore in Q3FY25. Revenue decreases by 4% QoQ to Rs 979 crore, impacted by the software development & services and system integration & support services segments. It appears in a screener of stocks with a QoQ degrowth in revenue, profits, and operating profit margin in recent results.

• Ceinsys Tech rises to its 5% upper limit as it receives a letter of intent (LoI) for an order worth Rs 381.2 crore from Vidarbha Irrigation Development Corporation (VIDC). The order involves a detailed survey, hydrology study, design, and estimation of key infrastructure such as canals, pipelines, tunnels, and other structures for the Wainganga-Nalganga River Link Project. The project spans districts in Maharashtra, including Nagpur, Wardha, and Yavatmal.

• Tata Consultancy Services is rising as its net profit grows 3.4% QoQ to Rs 12,380 crore in Q3FY25, driven by lower employee benefit expenses. Revenue decreases marginally QoQ to Rs 63,973 crore. The company appears in a screener of stocks with improving return on equity over the past two years.

• Nifty 50 was trading at 23,561.05 (34.6, 0.2%), BSE Sensex was trading at 77,682.59 (62.4, 0.1%) while the broader Nifty 500 was trading at 22,015.95 (-30.6, -0.1%).

• Market breadth is moving down. Of the 1,930 stocks traded today, 510 were gainers and 1,371 were losers.

Riding High:

Largecap and midcap gainers today include Tata Consultancy Services Ltd. (4,265.65, 5.6%), LTIMindtree Ltd. (6,124.40, 4.9%) and Tech Mahindra Ltd. (1,705.60, 3.8%).

Downers:

Largecap and midcap losers today include Adani Wilmar Ltd. (291.10, -10%), General Insurance Corporation of India (427.50, -8.0%) and Indian Renewable Energy Development Agency Ltd. (201.15, -6.9%).

Volume Rockets

14 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Ramkrishna Forgings Ltd. (957.10, 5.9%), Tata Consultancy Services Ltd. (4,265.65, 5.6%) and Anand Rathi Wealth Ltd. (4,154.35, 5.3%).

Top high volume losers on BSE were Adani Wilmar Ltd. (291.10, -10%), Tata Elxsi Ltd. (6,000.60, -6.8%) and Piramal Pharma Ltd. (221.25, -6.7%).

Indian Railway Catering & Tourism Corporation Ltd. (779.15, 2.0%) was trading at 7.2 times of weekly average. Aadhar Housing Finance Ltd. (422.95, 0.1%) and Sterling and Wilson Renewable Energy Ltd. (447.55, 2.0%) were trading with volumes 6.1 and 4.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

3 stocks overperformed with 52 week highs, while 35 stocks hit their 52 week lows.

Stocks touching their year highs included - HCL Technologies Ltd. (1,995.10, 3.1%), Lloyds Metals & Energy Ltd. (1,449.65, 1.0%) and PTC Industries Ltd. (17,083.15, -1.8%).

Stocks making new 52 weeks lows included - Bank of India (94.27, -4.5%) and Can Fin Homes Ltd. (679.35, -2.0%).

7 stocks climbed above their 200 day SMA including Tata Consultancy Services Ltd. (4,265.65, 5.6%) and Procter & Gamble Health Ltd. (5,250.25, 3.5%). 48 stocks slipped below their 200 SMA including Indian Renewable Energy Development Agency Ltd. (201.15, -6.9%) and Techno Electric & Engineering Company Ltd. (1,399.05, -5.8%).

Nifty 50 closed at 23,526.50 (-162.5, -0.7%), BSE Sensex closed at 77,620.21 (-528.3, -0.7%) while the broader Nifty 500 closed at 22,046.55 (-185.3, -0.8%). Market breadth is highly negative. Of the 2,404 stocks traded today, 594 were on the uptrend, and 1,764 went down.

Indian indices closed lower, with the benchmark Nifty 50 index closing at 23,526.5 points. The Indian volatility index, Nifty VIX, rose 1.3% and closed at 14.7 points. Borosil Renewables surged to its 5% upper circuit as its board of directors approved a 50% capacity expansion of solar glass manufacturing to 1,500 tonnes per day (TPD) from 1,000 TPD.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red. Nifty Consumer Durables and Nifty Media closed lower. According to Trendlyne’s sector dashboard, Telecommunications Equipment emerged as the worst-performing sector of the day, with a fall of 4.9%.

European indices are trading mixed. Major Asian indices closed flat or lower. US index futures are trading mixed, indicating a cautious start to the trading session. The Biden administration reportedly plans to introduce one final round of AI chip export restrictions before leaving office to prevent advanced technology from reaching China and Russia.

• Navine Fluorine International sees a long buildup in its January 30 futures series, with open interest increasing by 33.2% and a put-call ratio of 0.5.

• ACME Solar Holdings rises sharply as it commissions an additional 90 MW of solar capacity in Rajasthan, increasing its total operational renewable generation capacity to 2,453 MW.

• Swiggy is rising as its as its quick commerce platform, Swiggy Instamart, expands to 76 cities nationwide. It will soon be available as a standalone app, offering users a more direct experience while continuing to benefit from the multi-service app.

• Realty stocks like Anant Raj, Signatureglobal (India), Sobha, and Phoenix Mills fall more than 2% in trade. All constituents of the broader BSE Realty index are also trading in the red, causing it to plunge more than 2%.

• The Securities and Exchange Board of India (SEBI) formally lifts the suspension on JSW Cement's long-awaited initial public offering (IPO). The IPO will proceed through the standard regulatory process, with final approval expected within 30-60 days. The company aims to raise Rs 4,000 crore, consisting of a fresh issue of Rs 2,000 crore and an equal amount through an offer for sale.

  SEBI has officially lifted abeyance on #JSWCement's long-awaited #IPO
  
  Approval coming ????
  
  Read ??https://t.co/28JxrOTj87

  — NDTV Profit (@NDTVProfitIndia) January 9, 2025

• Ajmera Realty & Infra India's Q3FY25 sales grow 7% YoY to Rs 270 crore, while collections increase 10% YoY to Rs 167 crore. The company's sales rise 14% YoY to Rs 830 crore for 9MFY25.

• Puravankara acquires a 3.6-acre land parcel in Vajrahalli, Kanakapura Road, Bengaluru, to strengthen its presence in the city's high-demand micro-markets. The new parcel offers a saleable area of 5.4 lakh square feet, with an estimated gross development value (GDV) of over Rs 700 crore.

• NMDC's board of directors approves the incorporation of a subsidiary in Gujarat and the opening of liaison offices in the United Arab Emirates (UAE) and Australia.

• Mutual Funds' net equity inflows rise to Rs 41,136 crore in December, up from Rs 35,927.3 crore in November, according to data released by the Association of Mutual Funds in India (AMFI). Meanwhile, SIP inflows rise to Rs 26,459.5 crore in December, compared to Rs 25,320 crore last month.

  December #MutualFund Data ????
  
  Large Cap Fund Inflow At ?2,011 Cr Vs ?2,547.9 Cr Inflow
  
  Small Cap Fund Inflow At ?4,668 Cr Vs ?4,112 Cr Inflow pic.twitter.com/GfSqobq2RL

  — CNBC-TV18 (@CNBCTV18Live) January 9, 2025

• Bharat Heavy Electricals (BHEL) commissions two units of the 6x170 MW Punatsangchhu-II hydroelectric project (PHEP-II) in Bhutan. The greenfield project includes BHEL’s scope for designing, manufacturing, and installing turbines, generators, and other key components.

• Morgan Stanley reportedly maintains its 'Overweight' call on Reliance Industries with a higher target price of Rs 1,662 per share. This indicates a potential upside of 32%. The brokerage believes the company's refining segment will grow due to increasing global demand. It also expects the firm's profitability to improve in the retail segment, driven by an improvement in store footprint.

• Persistent Systems launches Pi-OmniKG, an AI-driven knowledge graph solution built with Google Cloud technology. This solution empowers healthcare and life sciences organizations to accelerate biomedical research, streamline data mining, and deliver insights more quickly and accurately.

• Kotak Institutional Equities retains a ‘Buy’ rating on Zomato with a target price of Rs 305. The brokerage projects a 19% YoY growth in the company's food delivery GMV (gross merchandise value) and a 114% increase in Blinkit's GMV. It notes that while Blinkit's expansion may lead to larger EBITDA losses, its solid unit economics continue to drive long-term growth prospects.

  Driven by Zomato’s food delivery business and Blinkit’s GMV, domestic brokerage firm Kotak Institutional Equities has retained its ‘buy’ rating on the stock with a target price of Rs 305, as it expects the company to report a decent third quarter.https://t.co/4HmWi8OikG

  — ETMarkets (@ETMarkets) January 9, 2025

• Aether Industries is rising as the Gujarat Pollution Control Board (GPCB) lifts the closure order on its Surat manufacturing facility. The move enables the complete resumption of its operations following a fire incident in November 2023, with required compliance.

• Keystone Realtors is rising as its pre-sales grow 40% YoY to Rs 863 crore in Q3FY25. Its collections increase 20% YoY to Rs 542 crore during the quarter, helped by a Real Estate Regulatory Authority (RERA) project completion in Mumbai and two project additions with a gross development value (GDV) of Rs 980 crore.

• Manappuram Finance is rising as the Reserve Bank of India (RBI) lifts restrictions on loan sanctioning and disbursal imposed on its subsidiary, Asirvad Micro Finance.

• HSBC downgrades Indian equity markets to 'Neutral' from 'Overweight' amid slowing growth and high valuations. It also lowers its 2025-end Sensex target by 5,000 points to 85,990. The brokerage acknowledges India's strong emerging market outlook and suggests that a rebound in rural demand could support a broader economic recovery.

  HSBC cuts Indian markets to 'neutral,' pivots focus to China & Hong Kong????????#StockMarket#InvestmentStrategy#GlobalMarketshttps://t.co/KHiSWbpUu0

  — Zee Business (@ZeeBusiness) January 9, 2025

• Tata Motors' Jaguar Land Rover (JLR) wholesales increase 3% YoY to 1 lakh units in Q3FY25, driven by higher sales across the Range Rover, Range Rover Sport, and Defender models. However, retail sales decline 3% YoY to 1 lakh units during the quarter.

• Prataap Snacks is falling as it receives an open offer from Authum Investment & Infrastructure with Mahi Madhusudan Kela to acquire a 26% stake in the company.

• Lupin receives an establishment inspection report (EIR) with a voluntary action indicated (VAI) status from the US FDA for its Pithampur Unit-1 manufacturing facility, which manufactures both APIs and finished products.

• Industrial gas manufacturers such as SRF and Navin Fluorine International surge over 9% after US gas distributors announce price hikes for refrigerant gases. US-based IGas reported disruptions in the supply of R32 and R125, leading to price increases of up to 200%. Brokerage firm Equirus estimates that a $1/kg change in R32 prices could boost SRF's EBITDA by Rs 260 crore, while Navin Fluorine's EBITDA will likely increase by Rs 77 crore.

  SRF, NAVIN FLOURINE IN FOCUS - Both up 10%
  
  US Gas Distributors announce price hikes for refrigant gases
  
  IGas says R32, R125 supply impacted, prices higher by upto 200%
  
  Equirus on SRF, Navin Flourine
  
  US$ 1/kg change in R32 realization could increase SRF's EBITDA by Rs 260…

  — Yatin Mota (@yatinmota) January 9, 2025

• Zen Technologies receives a patent for its T-72 Containerized Crew Gunnery Simulator System (T-72 CGS), an advanced training platform designed to train T-72 tank commanders and gunners.

• NTPC Green Energy forms a 74:26 joint venture (JV), NTPC Rajasthan Green Energy, with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL). The JV will set up renewable energy plants with a total capacity of 25 GW and develop green hydrogen and its derivatives in Rajasthan.

• Anand Rathi Wealth is rising as its board of directors schedules a meeting for January 13 to consider a proposal for a bonus issue of shares.

• Borosil Renewables surges to its 5% upper circuit as its board of directors approves a 50% capacity expansion of solar glass manufacturing to 1,500 tonnes per day (TPD) from 1,000 TPD.

• Nifty 50 was trading at 23,618.20 (-70.8, -0.3%), BSE Sensex was trading at 78,206.21 (57.7, 0.1%) while the broader Nifty 500 was trading at 22,180.35 (-51.5, -0.2%).

• Market breadth is in the green. Of the 1,927 stocks traded today, 1,016 were on the uptick, and 870 were down.

Riding High:

Largecap and midcap gainers today include SRF Ltd. (2,673.90, 13.7%), Marico Ltd. (666.90, 4.5%) and General Insurance Corporation of India (464.90, 4.1%).

Downers:

Largecap and midcap losers today include Oil India Ltd. (467, -5.0%), PB Fintech Ltd. (1,919.55, -4.2%) and GAIL (India) Ltd. (183.02, -4.0%).

Volume Shockers

20 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included SRF Ltd. (2,673.90, 13.7%), Balaji Amines Ltd. (1,909.05, 9.7%) and Navin Fluorine International Ltd. (3,824.55, 9.5%).

Top high volume losers on BSE were Chemplast Sanmar Ltd. (485.05, -1.4%) and Manappuram Finance Ltd. (179, -0.5%).

Alkyl Amines Chemicals Ltd. (1,870.20, 7.6%) was trading at 69.7 times of weekly average. Kama Holdings Ltd. (2,655, 7.7%) and AstraZeneca Pharma India Ltd. (7,009.15, 1.9%) were trading with volumes 14.2 and 10.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

3 stocks took off, crossing 52 week highs, while 12 stocks tanked below their 52 week lows.

Stocks touching their year highs included - SRF Ltd. (2,673.90, 13.7%), Navin Fluorine International Ltd. (3,824.55, 9.5%) and PTC Industries Ltd. (17,305, 0.9%).

Stocks making new 52 weeks lows included - Mahindra Lifespace Developers Ltd. (446.50, -1.2%) and Rajesh Exports Ltd. (222.21, -1.0%).

15 stocks climbed above their 200 day SMA including SRF Ltd. (2,673.90, 13.7%) and Kama Holdings Ltd. (2,655, 7.7%). 28 stocks slipped below their 200 SMA including KIOCL Ltd. (400.10, -4.4%) and Ashok Leyland Ltd. (214.40, -3.7%).