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The domestic equity indices closed with gains on Monday, led by a strong performance in the banking and financial services shares. The Nifty 50 index ended above the 23,300 level. Strong performances from Kotak Mahindra Bank and Wipro, driven by their Q3 results, boosted investor sentiment. However, the rally faced some resistance from the FMCG and auto sectors. However, analysts believe the current market uptrend may be a temporary bounce, as mixed earnings reports and continued FII selling have dampened investor confidence. The S&P BSE Sensex rallied 454.11 points or 0.59% to 77,073.44. The Nifty 50 index added 141.55 points or 0.61% to 23,344.75. Kotak Mahindra Bank (up 9.15%), Bajaj Finance (up 3.58%) and HDFC Bank (up 0.9%) boosted the indices. In the broader market, the S&P BSE Mid-Cap index rose 0.66% and the S&P BSE Small-Cap index gained 0.82%. The market breadth was strong. On the BSE, 2503 shares rose and 1557 shares fell. A total of 168 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 4.23% to 16.42. Numbers to Track: The yield on India's 10-year benchmark federal paper was up 1.48% to 6.874 as compared with previous close 6.774. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 86.5500, compared with its close of 86.6025 during the previous trading session. MCX Gold futures for 5 February 2025 settlement shed 0.09% to Rs 78,948. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.26% to 109.07. The United States 10-year bond yield rose 0.69% to 4.643. In the commodities market, Brent crude for March 2025 settlement shed 37 cents or 0.46% to $80.42 a barrel. Global Markets: European shares advanced as investors are looking ahead to Trump's inauguration ceremony. Additionally, investors are also gearing up for the World Economic Forum in Davos, Switzerland, this week. At the annual event, political and business leaders, among others, will gather in the Alpine resort for a wide range of debates, from how to increase economic growth to the challenges that artificial intelligence poses. Most Asian stocks ended higher on Monday, buoyed by hopes that U.S. President-elect Donald Trump may adopt a less aggressive stance toward China than previously feared when he assumes office later in the day. Regional markets took cues from Wall Street's strong performance on Friday. U.S. stocks rallied as robust bank earnings and expectations of interest rate cuts fueled investor optimism. The Dow Jones Industrial Average climbed 0.78%, hitting a new one-month high, while the S&P 500 rose 1.00%, and the NASDAQ Composite added 1.51%. Key performers included NVIDIA Corporation (+3.10%), Amazon.com Inc (+2.39%), and Goldman Sachs Group Inc (+2.11%). Investor sentiment improved further after Trump avoided mentioning trade tariffs during a victory lap rally in Washington on Sunday. However, he reiterated plans to crack down on immigration and reduce government oversight of domestic companies. Despite the optimism, uncertainty lingers. Fox News Digital reported that Trump is expected to sign a record number of executive orders upon taking office on Monday. While details remain unclear, some orders could potentially include increased trade tariffs against China. Previously, Trump had vowed to impose tariffs of up to 60% on Chinese imports and suggested similar measures targeting Mexico and Canada. Such policies could disrupt global trade and pose challenges for export-driven economies. Meanwhile, the People's Bank of China (PBOC) left its benchmark loan prime rate unchanged on Monday, as widely anticipated. Beijing appears to be holding off on new stimulus measures while awaiting greater clarity on Trump's trade policies. Lastly, U.S. markets will remain closed on Monday in observance of Martin Luther King, Jr. Day. Stocks in Spotlight: Shares of five telecom companies rose by 1% to 14% following media reports suggesting the government is considering a substantial waiver of adjusted gross revenue (AGR) dues. Tata Teleservices (Maharashtra) led the rally, surging 16%, while Mahanagar Telephone Nigam jumped 10.27%. Vodafone Idea, heavily impacted by the AGR issue, saw its shares climb 9.10%. Indus Towers and Bharti Airtel also registered gains, with increases of 3.42% and 0.9%, respectively. Kotak Mahindra Bank surged 9.15% after the private lender's net profit jumped 9.97% to Rs 3,304.80 crore on 13.86% rise in total income to Rs 16,050.38 crore in Q3 FY25 over Q3 FY24. Net Interest Income (NII) for Q3 FY25 stood at Rs 7,196 crore, up 10% from Rs 6,554 crore recorded in Q3 FY24. Net interest margin (NIM) was 4.93% for Q3 FY25. The provision coverage ratio stood at 73% in Q3 FY25. RBL Bank advanced 2.19%. The private lender's standalone net profit tumbled 86% to Rs 32.63 crore in Q3 FY25 as against Rs 233.09 crore posted in Q3 FY24. However, total income increased 16.14% year on year (YoY) to Rs 4,609.66 crore in the quarter ended 31 December 2024. Wipro jumped 6.49% after the IT major's consolidated net profit grew 4.51% to Rs 3,353.8 crore in Q3 FY25 as against Rs 3,208.8 crore posted in Q2 FY25. However, revenue from operations increased marginally to Rs 22,318.8 crore in the December 2024 quarter as against Rs 22,301.6 crore reported in the preceding quarter same year. The company's board has declared an interim dividend of Rs 6 per equity share. Tech Mahindra added 1.02%. The IT major's consolidated net profit slipped 21.35% to Rs 983.2 crore in Q3 FY25 as against Rs 1,250.1 crore reported in Q3 FY24. However, revenue from operations declined marginally 0.2% to Rs 13,285.6 crore in the December quarter, from Rs 13,313.2 crore recorded in the preceding quarter of FY24. United Breweries jumped 6% after the company resumes beer supply to Telangana Beverages Corporation Limited (TGBCL). One 97 Communications (Paytm) shed 0.21%. The company's net loss reduced to Rs 208.3 crore in Q3 FY25 from net loss of Rs 219.8 crore posted in Q3 FY24. Revenue from operations fell by 35.88% year over year (YoY) to Rs 1,827.8 crore in the quarter ended 31 December 2024. Concord Enviro Systems jumped 6.61% after the company's consolidated net profit jumped 39.52% to Rs 17.30 crore in Q2 FY25 compared with Rs 12.40 crore posted in corresponding quarter last year. Revenue from operations increased 66.3% YoY to Rs 161.89 crore during the quarter. Netweb Technologies India dropped 6.19%. The company's net profit advanced 16.57% to Rs 30.32 crore in Q3 FY25 as compared with Rs 26.01 crore in Q3 FY24. Revenue from operations jumped 31.8% year on year (YoY) to Rs 333.99 crore in the quarter ended 31 December 2024. Seshasayee Paper & Boards fell 3.43% after the company's consolidated net profit declined 75.89% to Rs 16.63 crore in Q3 FY25 as compared with Rs 68.98 crore in Q3 FY24. Revenue from operations slipped 8.9% YoY to Rs 431.33 crore in Q3 FY25. Rallis India dropped 6.68% after the pesticides maker reported 54.17% drop in net profit to Rs 11 crore on 12.71% slide in revenue from operations to Rs 522 crore in Q3 FY25 over Q3 FY24. Vidhi Specialty Food Ingredients rallied 7% after the company's consolidated net profit jumped 48.2% YoY to Rs 12.73 crore in Q3 FY25 as compared with Rs 8.59 crore in Q3 FY24. Revenue from operations increased 56.44% YoY to Rs 98.51 crore in Q3 FY25. Supreme Industries slipped 4.45% after the company's consolidated net profit declined 27.01% to Rs 186.97 crore in Q3 FY25 as against Rs 256.17 crore posted in Q3 FY24. However, revenue from operations rose 2.48% year on year (YoY) to Rs 2,509.88 crore in the quarter ended 31 December 2024. Indian Overseas Bank (IOB) rallied 3.91% after the bank reported 20.91% jump in net profit to Rs 873.66 crore on 13.07% rise in total income to Rs 8,409.3 crore in Q3 FY25 over Q3 FY24. Can Fin Homes advanced 2.34% after the company reported 6% rise in standalone net profit to Rs 212.12 crore on a 9.3% increase in total income to Rs 986.15 crore in Q3 FY25 as compared with Q3 FY24. Adani Energy Solutions rose 1.24%. The company has won two new transmission projects, helping swell its order book to Rs 54,700 crore -- more than three times of the work order it had at the start of current fiscal in April 2024. Advait Energy Transitions hit an upper limit of 5% after receiving letter of Award (LOA) from Solar Energy Corporation of India (SECI) for product linked incentive (PLI) to set up manufacturing alkaline electrolysers. Chennai Petroleum Corporation added 1.10%. The company has reported a standalone net profit of Rs 10.46 crore in Q3 FY25, which is lower by 97.1% as compared with the PAT of Rs 359.99 crore posted in Q3 FY24. Net sales declined by 25.6% YoY to Rs 12925.36 crore during the period under review. Sigachi Industries added 1.06% after the company reported 32.52% jump in consolidated net profit to Rs 21.35 crore in Q3 FY25 from Rs 16.11 crore posted in Q3 FY24. Revenue from operations grew by 25.66% to Rs 139.41 crore in Q3 FY25 from Rs 110.94 crore registered in Q3 FY24. Gujarat Hotels surged 9.76% after the company's standalone net profit soared 130.98% to Rs 1.64 crore in Q3 FY25 as against Rs 0.71 crore posted in Q3 FY24. Revenue from operations zoomed 100% to Rs 1.40 crore in the third quarter of FY25 as against Rs 0.70 crore recorded in the corresponding quarter last year. New Listing: Shares of Laxmi Dental were at Rs 550.65 on the BSE, a premium of 28.66% as compared with the issue price of Rs 428. The scrip was listed at Rs 528, a premium of 23.36% to the issue price. The stock has hit a high of 583.70 and a low of 524.80. On the BSE, over 15.95 lakh shares of the company were traded in the counter. IPO Update: The initial public offer of Stallion India Fluorochemicals received bids for 2,91,68,12,745 shares as against 1,55,12,978 shares on offer, according to stock exchange data at 17:00 IST on 20 January 2025. The issue was subscribed 188.02 times. The issue opened for bidding on 16 January 2025, and it will close on 20 January 2025. The price band of the IPO is fixed between Rs 85 and Rs 95 per share. An investor can bid for a minimum of 165 equity shares and in multiples thereof. Powered by Capital Market - Live News
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