Get App
PRE-MARKET REPORT
The domestic equity market indices, Sensex and Nifty 50 are expected to open lower on Monday following weakness in global markets.
Gift Nifty was trading at around 23,340 levels, a discount of nearly 160 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market today.
The US stock market ended lower on Friday after an upbeat jobs report stoked fresh inflation fears. The Dow Jones Industrial Average plunged 696.75 points, or 1.63%, to 41,938.45, while the S&P 500 declined 91.21 points, or 1.54%, to 5,827.04. The Nasdaq Composite ended 317.25 points, or 1.63%, lower at 19,161.63.
Asian markets traded lower tracking losses on Wall Street after a strong US jobs report. MSCI’s broadest index of Asia-Pacific shares outside Japan edged down 0.4%.
Japanese markets are closed for a holiday. South Korea’s Kospi fell 0.4%, while the Kosdaq dropped 0.3%. Hong Kong’s Hang Seng index futures indicated a lower opening.
STOCKS TODAY
Avenue Supermarts: Avenue Supermarts Ltd., the operator of the DMart retail chain, reported a 4.8 percent year-on-year rise in net profit to ₹723.7 crore for the quarter ended December 31, 2024. The company’s revenue from operations surged by 17.7 percent to ₹15,973 crore, reflecting strong growth momentum. EBITDA grew by 8.7 percent to ₹1,217.3 crore during the same period, although the EBITDA margin narrowed to 7.6 percent compared to 8.3 percent in the previous year.
Oberoi Realty: Oberoi Realty Ltd., a prominent real estate developer, disclosed that it had been appointed developer for a slum rehabilitation scheme at Bandra Reclamation, Mumbai. The project spans a 10,300-square-meter plot, as confirmed by the Slum Rehabilitation Authority (SRA) of Brihanmumbai in a letter dated January 10, 2025. In its regulatory filing, the company noted that this appointment aligns with its strategy to expand its footprint in Mumbai’s high-demand real estate market.
Ola Electric: Ola Electric Mobility Ltd., a leading player in the electric two-wheeler market, revealed that it has received a third communication from the Central Consumer Protection Authority (CCPA) as part of an ongoing investigation. The probe involves over 10,000 consumer complaints related to service deficiencies and alleged violations of consumer rights. This latest inquiry, dated January 10, 2025, follows two prior notices issued in October and December 2024. The company stated that it is fully cooperating with the authorities and providing all requested information.
Just Dial: Local search engine Just Dial Ltd. reported a robust 42.7 percent year-on-year increase in net profit to ₹131.3 crore for the quarter ended December 31, 2024. The company’s revenue from operations rose by 8.4 percent to ₹287.3 crore, compared to ₹265 crore in the same period last year. Just Dial continues to demonstrate growth, benefiting from its strong market position and expanding digital services portfolio.
PCBL: PCBL Ltd. faced a 39.1 percent year-on-year decline in net profit, which stood at ₹93.1 crore for the quarter. Despite this, the company’s revenue surged 21.3 percent to ₹2,010 crore, and EBITDA grew by 13.7 percent to ₹317.4 crore. However, EBITDA margins contracted to 15.8 percent from 16.9 percent in the previous year. The company declared an interim dividend of ₹5.5 per share, with a record date set for January 16, 2025.
Vedanta: Vedanta Resources Ltd., controlled by billionaire Anil Agarwal, is reportedly in discussions with banks to secure over $450 million in loans. The proceeds are intended to refinance the company’s outstanding junk bonds. First Abu Dhabi Bank PJSC, Barclays Plc, Mashreqbank PSC, and Standard Chartered Plc are among the lenders engaged in the talks. The loan, expected to have a tenor of three to five years, is part of Vedanta’s strategy to manage its debt obligations effectively.