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PRE-MARKET REPORT
The domestic equity market indices, Sensex and Nifty 50, are expected to open cautiously on Friday ahead of the Reserve Bank of India’s (RBI) monetary policy decision today and amid mixed global cues.
Gift Nifty was trading at around 23,710 levels, a premium of nearly 20 points from the Nifty futures’ previous close, indicating a mildly positive start for the Indian stock market indices.
The US stock market ended mixed on Thursday amid corporate earnings reports and key economic data. The Dow Jones Industrial Average declined 125.65 points, or 0.28%, to 44,747.63, while the S&P 500 rose 22.09 points, or 0.36%, to 6,083.57. The Nasdaq Composite closed 99.66 points, or 0.51%, higher at 19,791.99.
Asian markets traded lower on Friday ahead of key economic data in the region. Japan’s Nikkei 225 dropped 0.34% and the Topix fell 0.32% lower. South Korea’s Kospi declined 0.26%, while the Kosdaq eased 0.3%. Hong Kong’s Hang Seng index futures indicated a higher opening.
STOCKS TODAY
ITC: Diversified conglomerate ITC Ltd announced a 7 percent year-on-year (YoY) decline in consolidated net profit for the quarter ended December 31, 2024, at ₹4,935 crore. This profit is attributable to the owners of the company. In the corresponding quarter of the previous year, ITC had reported a profit of ₹5,335 crore. Meanwhile, revenues grew 8 percent YoY to ₹20,350 crore. The company also declared an interim dividend of ₹6.50 per share for the financial year ending March 31, 2025.
Hero MotoCorp: Two-wheeler manufacturer Hero MotoCorp announced a 12 percent growth in standalone net profit for the December quarter at ₹1,203 crore, compared to ₹1,073 crore in the year-ago period. The Q3FY25 revenue from operations stood at ₹10,211 crore, reflecting a 5 percent increase from ₹9,723 crore reported in the same quarter of the previous financial year. The company declared an interim dividend of ₹100 per equity share for FY25 and set February 12, 2025, as the record date for determining eligible shareholders. The interim dividend payment is expected to be completed by March 8, 2025, according to its regulatory filing.
Bharti Airtel: Telecom major Bharti Airtel reported a multi-fold increase in its net profit, reaching ₹14,781 crore in the third quarter. However, on an adjusted basis (before the exceptional item), the profit after tax (PAT) saw a 121 percent YoY growth at ₹5,514 crore. In comparison, the company posted a net profit of ₹2,442 crore in the same quarter last year. Airtel’s operating revenues grew 19 percent YoY to ₹45,129 crore, driven by strong underlying momentum in India and sustained constant currency growth in Africa. Airtel also maintained healthy ARPU growth, with the figure rising to ₹245 compared to ₹208 in the third quarter of the previous fiscal.
Britannia Industries: FMCG giant Britannia Industries announced a 4.5 percent growth in consolidated net profit for the December quarter at ₹582 crore, compared to ₹556 crore in the year-ago period. The company’s Q3FY25 revenue from operations stood at ₹4,593 crore, up 8 percent from ₹4,256 crore in the corresponding quarter of the previous fiscal. For the nine months ending December 31, 2024, Britannia’s consolidated sales reached ₹13,159 crore, reflecting a 5 percent YoY growth, while net profit stood at ₹1,619 crore, growing 1.3 percent over the previous year.
NCC: Infrastructure firm NCC Ltd reported a 12.5 percent YoY decline in net profit at ₹193.2 crore for the third quarter ended December 31, 2024. In the corresponding quarter of the previous year, the company had posted a net profit of ₹220.7 crore. Revenue from operations saw a 1.6 percent increase to ₹5,344.5 crore from ₹5,260 crore in the same period last year, as per its regulatory filing.