Indian stock markets experienced volatility as the Sensex fell 329.92 points (0.43%) to 76,190.46 and the NIFTY dropped 113.15 points (0.49%) to 23,092.20. Foreign institutional investors (FIIs) continued their aggressive selling, offloading equities of over Rs60,000 crore, in January. Market sentiment was negatively impacted by multiple factors, including Donald Trump's comments about BRICS nations and potential tariffs, global market caution ahead of the Bank of Japan's interest rate decision and ongoing geopolitical uncertainties. FIIs have been systematically reducing their Indian stock investments since September 2024; their equity assets under custody dropped from US$930bn (billion) in September 2024 to around US$851bn by November, representing an 8.6% decline. The trends of the major indices in the course of the week's trading are given in the table below:
News
DEE Development Engineers Limited has commissioned the second phase of its Rs250 crore manufacturing facility in Anjar (Gujarat). This expansion adds 12,000MT (metric tonnes) to its capacity, targeting a total of 27,000MT by October 2025. The facility, catering primarily to the oil & gas sector, is expected to create 600 jobs and enhance operational efficiency with advanced automation.
Bharti Airtel and Bajaj Finance entered into a strategic partnership to create one of India’s largest digital platforms for financial services and transform last-mile delivery. The one-of-a-kind partnership brings together Airtel’s highly engaged customer base of 370mn (million), 1.2mn+ strong distribution network and Bajaj Finance’s diversified suite of 27 product lines and distribution heft of 5,000+ branches and 70,000 field agents.
Dixon Technologies’ (India) subsidiary -- IsmartU India (IIPL) entered into a binding memorandum of understanding (MoU) with KHY Electronic India (KHY), whereby IIPL will acquire land & building, machinery and other tangible assets from KHY, for an amount of up to Rs133 crore excluding applicable taxes, subject to necessary adjustments in terms of due diligence and satisfactory completion of conditions precedent, as set out in the MoU, and signing of definitive agreements.
Ashapura Minechem’s overseas subsidiary entered into a long-term MoU with China Railway, a global Fortune 500 company, to jointly develop its Fako bauxite deposit in the Kindia region of Guinea.
PG Electroplast’s step-down subsidiary -- Next Generation Manufacturers -- received approval from government of India under the production linked incentive (PLI) scheme for third round of white goods under the air-conditioner components category. It will be investing Rs121.35 crore over a period of five years.
Ram Ratna Wires was selected in the third round of PLI scheme for white goods. It has committed an investment of around Rs253 crore under PLI scheme for manufacturing of copper tube (plain and/or grooved) and aluminium stock for foils or fins for heat exchangers.
63 moons technologies completed the sale of open dealer integrated network (ODIN), order management system (OMS) (ODIN business undertaking) to Synapsewave Innovations (Synapsewave), on a slump-sale basis.
Easy Trip Planners (EaseMyTrip) signed anMoU with the Penang Convention & Exhibition Bureau (PCEB) to enhance Penang’s presence in the Indian market. This strategic partnership is set to improve how Indian travellers experience Penang by leveraging EaseMy Trip’s market expertise and digital reach.
Hatsun Agro Product (HAP) received approval from board of directors for acquisition of 100% of the issued and paid-up share capital of the Milk Mantra Dairy.
Strides Pharma Science’s step-down wholly-owned subsidiary -- Strides Pharma Global, Singapore-- received approval for Acetaminophen and Ibuprofen tablets, 125mg /250mg (over-the-counter -- OTC), from the United States Food & Drug Administration (US FDA). The product is bioequivalent to the reference listed drug (RLD), Advil Dual Action with Acetaminophen, 125mg /250mg (OTC), of Haleon US Holdings LLC.
Krystal Integrated Services received approval for incorporation of a wholly-owned subsidiary to carry on business as consultants, booking agents or deal in all types of services in home cleaning solutions, cleaning building interiors, windows, carpets and upholstery.
Royal Orchid Hotels (ROHL) will be ramping up the room inventory of Regenta Suites Gurgaon, the leading hospitality brand’s one of the oldest hotels in Gurugram (Haryana). The property plans to add additional 48 suites to the existing property taking the total room count to 115.
JK Tyre & Industries (JK Tyre) secured a US$100mn sustainability-linked loan (SLL) from International Finance Corporation (IFC). The funding includes US$30mn to JK Tyre and up to US$70mn for Cavendish Industries (CIL), a subsidiary of JK Tyre.
DB Corp launched its new English mobile news application, Bhaskar English.
HDFC Life Insurance Company entered into a corporate agency tie-up with CARS24 Financial Services. This partnership will enable CARS24 Financial Services to distribute products of HDFC Life to existing and future customers of CARS24.
The US FDA granted orphan drug designation (ODD) to Zydus Lifesciences Usnoflast, a novel oral NLRP3 inhibitor, for the treatment of amyotrophic lateral sclerosis (ALS). The US FDA's
office of orphan drug products grants orphan status to support development of medicines for treatment of rare diseases that affect fewer than 200,000 people in the United States.
Shilpa Medicare’s 100% subsidiary -- Shilpa Pharma Lifesciences -- has received certificate of suitability (CEP) from EDQM (European Directorate for the Quality of Medicines & Healthcare) for API, Teriflunomide.
Waaree Energies’ wholly-owned subsidiary -- Waaree Solar Americas Inc --commissioned commercial production of 1.6GW (gigawatt) solar module line at its unit situated at Brookshire in Texas (USA).
Piramal Pharma’s division -- Piramal Critical Care (PCC) -- launched chlorpromazine hydrochloride for injection, USP, which will be offered in 25mg/1mL and 50mg/2mL vials. With this launch, PCC continues to expand its generic injectables portfolio.
Laurus Labs’ wholly-owned foreign subsidiary -- Laurus Generics Inc (LGI) -- has undergone a post-marketing adverse drug experience (PADE) inspection by US FDA. The inspection included a comprehensive scrutiny of practices and procedures for reporting of adverse events of Laurus Labs’ marketed products worldwide.
Orders
Jyoti Structures Limited has received a Rs741.28-crore turnkey project from Power Grid Corporation of India limited for an 800kv (kilovolt_ high voltage direct current bi-pole line in Khavda (Gujarat). The project includes design, supply and commissioning and is to be completed within 42 months. This is the company's highest-value engineering-procurement-construction (EPC) order in recent years.
HFCL Limited has received an advance purchase order worth Rs2,167.65 crore from Rail Vikas Nigam Limited for supplying optical fibre cables, telecom equipment and related accessories, along with a 10-year maintenance contract, for BharatNet phase-3 in Uttar Pradesh. The project will be executed over three years.
Waaree Renewable Technologies received a letter of intent (LoI) for execution of EPC works for ground-mount solar power project of 105MWp (megawatt peak) (DC—direct current) capacity on a turnkey basis.
Advait Energy Transitions received an order from Karnataka Renewable Energy Development for design, development, deployment and maintenance of web-based online portal and mobile application for implementation of off-grid or stand-alone solar pumps (40,000 units) under PM KUSUM Component 'B' scheme in Karnataka including cloud services, integration with payment and SMS gateway, configuration of risk management system (RMS) devices and integration with solar energy data management (SEDM) portal and also pperations and maintenance for a period of five years.
Bondada Engineering received a work order from M/s KPI Green Energy for balance of system (BOS) items supply & services for engineering procurement construction (EPC) works at Vagra, Amod and Rajkot. The broad consideration or size of the order is Rs88.49 crore.
Adani Energy Solutions (AESL) secured Bhadla-Fatehpur HVDC project worth around Rs25,000 crore-- the largest transmission order ever won by the Adani group. With the latest win, its order-book now stands at Rs54,761 crore. The project will evacuate 6GW of renewable energy from Rajasthan to demand centres in the north.
Newgen Software Technologies’ material subsidiary -- Newgen Software Inc (NSI) -- received purchase orders from a customer related to insurance industry. The aggregate value of the purchase orders is US$3,008,533.
Investment/ Acquisition / Stake Stale
Tata Teleservices (Maharashtra) received approval for investment for around Rs5.3 crore towards subscription for 26% stake in P&T Renewable Energy, a special purpose vehicle (SPV) formed by Prabhat Renewable Energy and Agro for setting up captive solar power plant in Maharashtra.
Tanla Platforms received approval to sell and dispose 100% equity stake in Gamooga Softtech (Gamooga), a wholly-owned subsidiary of the company, to Karix Mobile (Karix), another wholly-owned subsidiary of the company.
Dalmia Bharat’s wholly-owned subsidiary -- Dalmia Cement (Bharat) (DCBL)-- entered into an agreement to acquire 26% of equity share capital of Solis Urja Energy, to source solar power as a captive consumer for a capacity upt o 7.0 MWp located in Andhra Pradesh.
Tembo Global Industries subsidiary -- Tembo Defence Products -- and the government of Maharashtra have formalised an agreement involving investment of Rs1,000 crore aimed at strengthening the defence sector in the state.
Earnings
Sunteck Realty reported net profit at Rs42.52 crore for the quarter ended 31 December 2024 compared to net loss of Rs9.73 crore for the same quarter in the previous year. Total income of the company reported over two-fold jump at Rs174.77 crore for Q3FY24-25 compared to Rs60.99 crore for the corresponding quarter of the previous year.
Dixon Technologies (India) reported over two-fold jump in its net profit at Rs216.23 crore for the quarter ended 31 December 2024 compared to Rs97.07 crore for the same quarter in the previous year. Total income of the company reported over two-fold jump at Rs10,460.18 crore for Q3FY24-25 compared to Rs4,820.57 crore for the corresponding quarter of the previous year.
L&T Finance reported 2.15% fall in its net profit at Rs625.65 crore for the quarter ended 31 December 2024 compared to Rs639.37 crore for the same quarter in the of the previous year. However, total income of the company increased by 14.63% at Rs4,105.13 crore for Q3FY24-25 compared to Rs3,581.26 crore for the corresponding quarter of the previous year.
IDBI Bank reported 30.27% rise in its net profit at Rs1,929.09 crore for the quarter ended 31 December 2024 compared to Rs1,480.81 crore for the same quarter in the previous year. Total income of the Bank increased by 13.84% at Rs8,628.99 crore for Q3FY24-25 compared to Rs7,579.91 crore for the corresponding quarter of the previous year.
Zomato reported 57.25% fall in its net profit at Rs59 crore for the quarter ended 31 December 2024 as compared to Rs138 crore for the same quarter in the previous year. However, total income of the company increased by 61.31% at Rs5,657 crore for Q3FY25 as compared to Rs3,507 crore for the corresponding quarter previous year.
Kotak Mahindra Bank reported 10.23% rise in its net profit at Rs4,701.02 crore for the quarter ended 31 December 2024 compared to Rs4,264.78 crore for the same quarter in the previous year. However, total income of the Bank decreased by 0.57% at Rs23,945.79 crore for Q3FY24-25 compared to Rs24,083.15 crore for the corresponding quarter of the previous year.
SBI Life Insurance Company reported 71.20% rise in net profit at Rs550.82 crore for Q3FY24-25 compared to Rs321.75 crore for the same quarter in the previous year. Net premium income of the company increased by 11.25% at Rs24,827.54 crore for Q3FY24-25 compared to Rs22,316.47 crore for the corresponding quarter previous year.
Chennai Petroleum Corporation reported 94.31% fall in its net profit at Rs20.78 crore for the quarter ended 31 December 2024 compared to Rs365.28 crore for the same quarter in the previous year. Total income of the company decreased by 23.31% at Rs15,687.64 crore for Q3FY24-25 compared to Rs20,456.42 crore for the corresponding quarter of the previous year.
One97 Communications reported net loss of Rs208.50 crore for the quarter ended 31 December 2024 compared to net loss of Rs221.70 crore for the same quarter in the previous year. Total income of the company decreased by 32.76% at Rs2,016.50 crore for Q3FY24-25 compared to Rs2,999.10 crore for the corresponding quarter of the previous year.
DCM Shriram reported 9.01% rise in its net profit at Rs262.14 crore for the quarter ended 31 December 2024 compared to Rs240.48 crore for the same quarter in the previous year. Total income of the company increased by 12.21% at Rs3,559.98 crore for Q3FY24-25 compared to Rs3,172.65 crore for the corresponding quarter of the previous year.
RBL Bank reported 80.68% fall in its net profit at Rs47.32 crore for the quarter ended 31 December 2024 compared to Rs244.89 crore for the same quarter in the previous year. However, total income of the Bank increased by 16.17% at Rs4,610.47 crore for Q3FY24-25 compared to Rs3,968.82 crore for the corresponding quarter of the previous year.
Indian Hotels Company reported 32.63% rise in its net profit at Rs632.53 crore for the quarter ended 31 December 2024 compared to Rs476.93 crore for the same quarter in the previous year. Total income of the company increased by 29.35% at Rs2,591.73 crore for Q3FY24-25 compared to Rs2,003.64 crore for the corresponding quarter of the previous year.
HDFC Bank reported 2.31% rise in its net profit at Rs17,656.61 crore for the quarter ended 31 December 2024 compared to Rs17,257.87 crore for the same quarter in the previous year. However, total income of the Bank decreased by 2.45% at Rs1,12,193.94 crore for Q3FY24-25 compared to Rs1,15,015.51 crore for the corresponding quarter of the previous year.
Dalmia Bharat reported 75.19% fall in its net profit at Rs66 crore for the quarter ended 31 December 2024 compared to Rs266 crore for the same quarter in the previous year. Total income of the company decreased by 12.17% at Rs3,218 crore for Q3FY24-25 compared to Rs3,664 crore for the corresponding quarter of the previous year.
India Cement reported a net profit of Rs116.52 crore for the quarter ended 31 December 2024 compared to a net loss of Rs6.58 crore for the same quarter in the previous year. However, total income of the company fell by 13.43% at Rs987.18 crore for Q3FY24-25 compared to Rs1,140.33 crore for the corresponding quarter previous year.
Central Bank of India reported 31.17% rise in its net profit at Rs963.38 crore for the quarter ended 31 December 2024 compared to Rs734.47 crore for the same quarter in the previous year. Total income of the Bank increased by 6.58% at Rs9,774.25 crore for Q3FY24-25 compared to Rs9,171.16 crore for the corresponding quarter of the previous year.
Karur Vysya Bank reported 20.50% rise in its net profit at Rs496.03 crore for the quarter ended 31 December 2024 compared to Rs411.63 crore for the same quarter in the previous year. Total income of the Bank increased by 18.27% at Rs2,953.44 crore for Q3FY24-25 compared to Rs2,497.17 crore for the corresponding quarter of the previous year.
UltraTech Cement reported 16.98% decline in its net profit at Rs1,473.51 crore for the quarter ended 31 December 2024 compared to Rs1,774.78 crore for the same quarter in the previous year. However, total income of the company increased by 3.30% at Rs17,437.62 crore for Q3FY24-25 compared to Rs16,880.45 crore for the corresponding quarter of the previous year.
Tata Teleservices reported net loss of Rs315.11 crore for Q3FY24-25 compared to net loss of Rs307.69 crore for the same quarter in the previous year. Total income of the company increased by 11.71% at Rs333.73 crore for Q3FY24-25 compared to Rs298.76 crore for the corresponding quarter of the previous year.
Cigniti Technologies (+12.32%) reported 32.33% rise in its net profit at Rs63.57 crore for the quarter ended 31 December 2024 compared to Rs48.04 crore for the same quarter in the previous year. Total income of the company increased by 10.62% at Rs525.83 crore for Q3FY24-25 compared to Rs475.33 crore for the corresponding quarter of the previous year.
Coforge reported 5.40% rise in its net profit at Rs255.90 crore for the quarter ended for Q3FY24-25 compared to Rs 242.80 crore for the same quarter in the previous year. Total income of the company increased by 44.46% at Rs3,377.80 crore for Q3FY24-25 compared to Rs2,338.30 crore for the corresponding quarter of the previous year.
Pidilite Industries reported 9.03% rise in its net profit at Rs557.08 crore for Q3FY24-25 compared to Rs510.92 crore for the same quarter in the previous year. Total income of the company increased by 8.14% at Rs3,424.69 crore for Q3FY24-25 compared to Rs3,166.97 crore for the corresponding quarter previous year.
Persistent Systems reported 30.36% rise in its net profit at Rs372.99 crore for the quarter ended 31 December 2024 compared to Rs286.13 crore for the same quarter in the previous year. Total income of the company increased by 22.41% at Rs3,104.92 crore for Q3FY24-25 compared to Rs2536.53 crore for the corresponding quarter of the previous year.
Gravita India reported 26.99% rise in its net profit at Rs78.06 crore for the quarter ended 31 December 2024 compared to Rs61.47 crore for the same quarter in the previous year. Total income of the company increased by 32.60% at Rs1,025.28 crore for Q3FY24-25 compared to Rs773.21 crore for the corresponding quarter of the previous year.
Top gainers and losers of the major indices for the week are given in the table below:
