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POST-MARKET REPORT
Equity markets closed higher on January 30, extending their rebound for a third consecutive session. Corporate earnings remained mixed, but optimism prevailed ahead of the Union Budget on Saturday and the Reserve Bank of India’s (RBI) bi-monthly policy meeting next week.
At close, the Sensex gained 0.3% (226.85 points) to 76,759.81, while the Nifty rose 0.3% (86.4 points) to 23,249.5. This third-day rally followed the RBI’s liquidity-boosting measures announced on January 27, which heightened expectations of a potential rate cut in February.
The central bank committed to injecting Rs60,000 crore via open market operations in three tranches and conducting a $5 billion dollar-rupee swap auction on January 31.
Nifty IT and Nifty Auto are top sectoral laggards. Nifty Realty and Nifty Pharma are top performers among the Sectoral indices. Considering the broader indices, Midcap, and smallcap indices trim gains and turn flat.
STOCKS TODAY
Ambuja Cement: Shares of Adani Group-owned Ambuja Cements tumbled sharply in trade on January 30, despite the cement player reporting a sharp three-fold increase in its net profit for the quarter ended December 31, 2024. The company reported a 242 percent increase in standalone net profit at Rs 1,758 crore for the quarter ended December 31, 2024. It reported a net profit of Rs 514 crore in the year-ago period.
Waaree Energies: The company on January 30 reported a four-fold jump in net profit at Rs 492.7 crore in the quarter ended December 31 of the current financial year. The firm’s revenue jumped over 116 percent to Rs 3,457.28 crore in the reported quarter. The stock of the company closed 0.91 percent higher at Rs 2,227.65 on the NSE today.
Adani Enterprises: Adani Enterprises on January 30 reported a substantial decline in net profit at Rs 58 crore for the quarter ended December 31, 2024, impacted by performance at its key coal trading division. The firm’s revenue declined 9 percent to Rs 22,848 crore in Q3FY25 as against Rs 25,050 crore in Q3FY24. Adani Enterprises shares were trading nearly 4% lower at noon, today.
Acme Solar: shares surged by 10 percent to get locked in the upper circuit for the second consecutive day on January 30. This comes after the company posted strong Q3 FY25 results on January 29. The company posted significant growth in both revenue and profit. Its revenue from operations rose by 5.24 percent year-on-year to Rs 349.01 crore, while profit jumped by an impressive 152.1 percent YoY to Rs 112.06 crore.
JK Paper: Shares of JK Paper nosedived 11 percent on January 30, following the company’s lackluster third-quarter (Q3FY25) results. The company reported a steep 72 percent year-on-year (YoY) decline in net profit, which plunged to Rs 65 crore in Q3FY25 from Rs 235 crore in the same period last year. Revenue from operations also took a hit, slipping 4.4 percent YoY to Rs 1,631 crore, while EBITDA stood at Rs 189 crore.