Nifty 50 closed at 22,829.15 (-263.1, -1.1%), BSE Sensex closed at 75,366.17 (-824.3, -1.1%) while the broader Nifty 500 closed at 20,910.95 (-408.0, -1.9%). Market breadth is highly negative. Of the 2,439 stocks traded today, 217 were in the positive territory and 2,202 were negative.
Indian indices closed in the red, with the benchmark Nifty 50 index closing at 22,829.2 points. The Indian volatility index, Nifty VIX, rose 8.3% and closed at 18.1 points. Adani Wilmar’s net profit surged by 104.5% YoY to Rs 411 crore in Q3FY25. Revenue rose by 31.4% YoY to Rs 16,859 crore, owing to improvements in the edible oil, food & FMCG, and industry essentials segments.
Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, following the benchmark index. S&P BSE SME IPO and Nifty Media were among the top index losers today. According to Trendlyne’s Sector dashboard, Telecommunications Equipment emerged as the worst-performing sector of the day, with a fall of 5.8%.
Asian indices closed lower, while European indices are trading in the red. US index futures traded in the red, indicating a cautious start to the trading session. Brent crude oil futures are trading in the green. Goldman Sachs maintains an optimistic 2025 outlook, expecting progress toward the 2% US inflation target, a modest recovery in the labor market, and US GDP growth above consensus forecasts. The bank anticipates continued decline in the YoY inflation rate and views rate cuts as reasonable, though not essential.
Money flow index (MFI) indicates that stocks like Netweb Technologies, Sanofi India, and Apollo Tyres are in the oversold zone.
Trident falls to its new 52-week low of Rs 28 as its net profit declines 26.7% YoY to Rs 79.7 crore in Q3FY25. Revenue decreases 9.2% YoY to Rs 1,667.1 crore due to lower sales in yarn, towel, bedsheets, and paper & chemicals segment during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.
Exicom Tele-Systems signs a memorandum of understanding (MoU) with Tesco ChargeZone to develop and deploy over 500 high-power electric vehicle charging stations across India. Exicom will develop & supply the charging solutions for ChargeZone's upcoming hubs and public locations.
Intellect Design Arena's Q3FY25 net profit grows 32.9% QoQ to Rs 70.2 crore, helped by lower finance costs. Revenue increases 6.5% QoQ to Rs 624.8 crore, driven by an improvement in the platform and annual maintenance contract (AMC) segments. It appears in a screener of stocks with rising net cash flow and cash from operating activities.
JP Morgan initiates coverage on Vishal Mega Mart with an 'Overweight' rating and a target price of Rs 125. The brokerage points out its extensive pan-India presence with over 650 stores, noting that these are among the fastest-growing and most profitable retail chains with significant scale. It forecasts a CAGR of 18% in revenue and 28% in earnings per share from FY25 to FY27.
Adani Wilmar rises sharply as its net profit surges by 104.5% YoY to Rs 411 crore in Q3FY25. Revenue rises by 31.4% YoY to Rs 16,859 crore, owing to improvements in the edible oil, food & FMCG, and industry essentials segments. The company appears in a screener of stocks with improving book value over the past two years.
DAM Capital Advisors rises sharply as its Q3FY25 net profit surges 144.7% YoY to Rs 51.4 crore. Revenue grows 131.6% YoY to Rs 104 crore on the back of an improvement in the stock broking and investment banking segments. It features in a screener of stocks with high volumes and high gains.
Ceigall India emerges as the lowest bidder for a Rs 923 crore National Highways Authority of India's (NHAI) project, involving the development of a 6-lane southern Ludhiana bypass under the Ludhiana-Ajmer economic corridor. The estimated cost of the project is Rs 865 crore.
The stainless steel industry is hoping for a reduction of import duties to zero on critical raw materials not available in India, along with higher customs duties on stainless steel products and fixed tariff values. The Indian Stainless Steel Development Association (ISSDA) emphasizes the need for strategic measures to strengthen the domestic sector, promote sustainability, and improve global competitiveness.
NTPC is falling as its net profit declines 1.8% YoY to Rs 5,062.5 crore in Q3FY25 due to higher fuel, electricity, and depreciation & amortisation expenses. However, revenue grows 4.6% YoY to Rs 45,598 crore, attributed to an improvement in the power generation segment. It shows up in a screener of stocks with RSI indicating price weakness.
IDFC First Bank hits a 52-week low of Rs 57.4 as its Q3FY25 net profit falls 53.5% YoY to Rs 339.4 crore, due to higher provisions in its microfinance portfolio. However, revenue increases 18.4% YoY to Rs 11,122.9 crore, driven by improvements in the treasury and retail segments. The bank's asset quality improves, with gross and net NPAs declining by 10 bps and 16 bps YoY, respectively.
DLF rises sharply as its Q3FY25 net profit grows 61.2% YoY to Rs 1,058.7 crore, helped by a deferred tax refund of Rs 820.3 crore and increase in revenue from its subsidiaries and joint ventures (JVs). Revenue increases by 5.7% YoY to Rs 1,737.5 crore, led by an improvement in new sales bookings. It features in a screener of stocks with increasing return on equity (RoE) over the past two years.
The Reserve Bank of India's surprise purchase of government bonds on Monday led to a drop in bond yields and increased expectations of an interest rate cut in February. BofA Global Research anticipates a 25bps reduction in the repo rate to 6.25% during the February MPC meeting and expects the RBI to take further steps to inject durable liquidity, such as considering a 50bps cut in the cash reserve ratio (CRR) or significant bond purchases via open market operations.
Yes Bank rises as its net profit surges by 155.3% YoY to Rs 619.4 crore in Q3FY25, helped by a reduction in provisions & contingencies. Revenue increases by 14.2% YoY due to improvements in the treasury, corporate, and retail banking segments. The bank’s asset quality also improves, with gross and net NPAs contracting by 40 bps YoY.
KEC International secures orders worth Rs 1,445 crore for transmission and distribution (T&D) projects in India. The orders include 800 kilovolt (kV) high-voltage direct current (HVDC) and 400 kV transmission line projects from Power Grid Corporation of India.
JK Cement's revenue falls marginally by 0.2% YoY to Rs 2,930.3 crore in Q3FY25. Net profit declines 33.2% YoY to Rs 189.6 crore due to higher inventory, freight & forwarding and employee benefits expenses. The company appears in a screener of stocks with decreasing profits for the past three quarters.
UltraTech Cement is reportedly in advanced talks to acquire Heidelberg Cement India, the Indian-listed arm of German cement giant Heidelberg, which owns a 69.4% stake in the firm. Other major Indian cement players, including the Adani Group and JSW Cement, have also shown interest in the company.
Godrej Consumer Products is falling as its net profit declines 14.2% YoY to Rs 498.3 crore in Q3FY25 due to higher raw materials, inventory, employee benefits, finance, depreciation & amortisation, and advertisement & publicity expenses. However, revenue grows 3.3% YoY to Rs 3,851.5 crore, driven by an improvement in the Indian and Indonesian markets. It appears in a screener of stocks where promoters decrease holding by more than 2% QoQ.
Bank of India is rising as its Q3FY25 net profit grows 36.6% YoY to Rs 2,516.7 crore. Revenue increases 21.6% YoY to Rs 19,956.9 crore, helped by an improvement in the treasury, retail, and wholesale segments. The bank's asset quality improves as its gross and net NPAs decline by 166 bps YoY and 56 bps YoY, respectively.
Macrotech Developers rises sharply as its net profit surges 87.6% YoY to Rs 944.4 crore in Q3FY25, helped by a tax refund of Rs 228.3 crore. Revenue grows 40.1% YoY to Rs 4,146.6 crore, driven by an improvement in presales and collections. It features in a screener of stocks with the highest foreign institutional investor (FII) holdings.
Satyanarayana Chava, CEO of Laurus Labs, states that 40% of the company's revenue comes from the anti-retroviral (ARV) business. He expects the company to achieve a 20% EBITDA margin by FY25 and anticipates strong orders in the Contract Development and Manufacturing Organization (CDMO) segment. Chava also emphasizes that he does not foresee any impact on the ARV business in 2025, as a significant portion of the revenue comes from US customers.
Torrent Pharmaceuticals is rising as its net profit grows 13.5% YoY to Rs 503 crore in Q3FY25, driven by lower finance cost and inventory destocking. Revenue increases 2.8% YoY to Rs 2,809 crore during the quarter. The company appears in a screener of stocks outperforming their industry price change in the quarter.
ICICI Bank is rising as its Q3FY25 net profit grows 14.8% YoY to Rs 11,792.4 crore. Revenue increases 13.1% YoY to Rs 48,376.9 crore, helped by an improvement in the treasury, retail, and corporate banking segments. The bank's asset quality improves as its gross and net NPAs decline by 34 bps YoY and 2 bps YoY, respectively.
InterGlobe Aviation's net profit falls 18.3% YoY to Rs 2,448.8 crore in Q3FY24 due to higher aircraft & engine rental, repair & maintenance cost, and foreign exchange loss. However, revenue grows by 13.7% YoY to Rs 22,110.7 crore during the quarter. The company features in a screener of stocks with improving cash flow from operations over the past two years.
JSW Steel is falling as its net profit plunges 70.3% YoY to Rs 717 crore in Q3FY25 due to higher inventory, finance, depreciation & amortisation, and power & fuel expenses. Revenue declines 1.4% YoY to Rs 41,525 crore, caused by lower realisations in steel. It shows up in a screener of stocks with high promoter pledges.
Indian markets slumped today. Nifty 50 was trading at 22,926.75 (-165.5, -0.7%), BSE Sensex was trading at 75,700.63 (-489.8, -0.6%) while the broader Nifty 500 was trading at 21,081.85 (-237.1, -1.1%).
Market breadth is moving down. Of the 2,038 stocks traded today, 192 were on the uptrend, and 1,794 went down.
Riding High:
Largecap and midcap gainers today include Bank of India (104.29, 6.0%), IDBI Bank Ltd. (80.31, 4.6%) and Adani Wilmar Ltd. (261.20, 3.7%).
Downers:
Largecap and midcap losers today include IDFC First Bank Ltd. (56.73, -8.9%), Supreme Industries Ltd. (3,546.30, -6.8%) and Info Edge (India) Ltd. (6,995, -6.1%).
Crowd Puller Stocks
27 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Bank of India (104.29, 6.0%), Sobha Ltd. (1,194, 5.1%) and Sumitomo Chemical India Ltd. (505.85, 4.4%).
Top high volume losers on BSE were Anant Raj Ltd. (668.10, -17.5%), Caplin Point Laboratories Ltd. (1,899.20, -11.5%) and Laurus Labs Ltd. (534.65, -11.3%).
LMW Ltd. (14,948.30, -6.0%) was trading at 9.7 times of weekly average. TBO Tek Ltd. (1,563.15, -2.2%) and Ingersoll-Rand (India) Ltd. (3,586, -5.3%) were trading with volumes 8.1 and 7.5 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 70 stocks tanked below their 52 week lows.
Stock touching their year highs included - JK Cement Ltd. (4,786.30, 0.6%).
Stocks making new 52 weeks lows included - 3M India Ltd. (29,265, 0.5%) and Apollo Tyres Ltd. (419.55, -0.9%).
2 stocks climbed above their 200 day SMA including Sumitomo Chemical India Ltd. (505.85, 4.4%) and ICICI Bank Ltd. (1,227.95, 1.6%). 46 stocks slipped below their 200 SMA including Newgen Software Technologies Ltd. (1,057.15, -10%) and Aditya Birla Sun Life AMC Ltd. (643.45, -9.2%).