Gift Nifty indicates a muted start for the Indian benchmark indices; Asian markets traded lower; US markets traded mixed


 The domestic equity market is expected to open flat on Wednesday tracking mixed cues from global peers

Gift Nifty indicates a flat start for the Indian stock market indices as it was trading near the previous close

Asian markets traded lower on Wednesday following a mixed trend from Wall Street overnight and ahead of the US Fed’s policy and the release of key economic data in the region.

Japan’s Nikkei 225 fell 0.75%, while the Topix declined 0.26%. South Korea’s Kospi declined 0.17% and the Kosdaq dropped 0.32%. Hong Kong’s Hang Seng index futures indicated at a flat opening.

US stock market indices ended mixed on Tuesday ahead of the Federal Reserve’s interest rate decision

The Dow Jones Industrial Average rose 0.35% while the S&P 500 eased 0.06%. The Nasdaq Composite closed 0.76% lower.


 Tata Consultancy Services: The country’s largest IT services company announced a 15-year expansion of its partnership with Aviva, the UK’s leading insurance, wealth, and retirement provider, to transform Aviva’s UK Life business and enhance customer experience leveraging the TCS BaNCS-based platform.

Mahindra & Mahindra Financial Services: The non-banking finance company has reported net profit of Rs 553 crore for the October–December period of FY24, falling 12 percent compared to the year-ago period. Net interest income grew by 10 percent YoY to Rs 1,815 crore, but net interest margin fell 60 basis points to 6.8 percent for the quarter.

Dr. Reddy’s Laboratories: The pharmaceutical company has registered 10.6 percent year-on-year growth in consolidated net profit at Rs 1,378.9 crore for the October-December period of FY24, despite higher tax costs. Revenue from operations for the quarter grew by 6.6 percent to Rs 7,215 crore compared to the year-ago period, driven by market share gains for existing products in North America and the continuation of the growth journey in Europe.

PB Fintech: The Policybazaar operator has recorded net profit of Rs 37 crore for the quarter ended December FY24, against a net loss of Rs 87 crore in the corresponding period of the last fiscal. Revenue from operations increased by 43 percent year-on-year to Rs 871 crore during the quarter, while the cash position improved by Rs 204 crore YoY to Rs 5,150 crore in Q3 FY24. Revenue from the core online marketplaces, Policybazaar and Paisabazaar, grew by 39 percent to Rs 593 crore during the quarter.

SRF: The chemical company has registered a 50.4 percent on-year decline in consolidated net profit at Rs 253.4 crore for third quarter of FY24, missing analysts’ estimates, impacted by lower topline as well as weak operating performance. Consolidated revenue from operations dropped 12 percent YoY to Rs 3,053 crore for the quarter.

Cochin Shipyard: The shipbuilding company has reported consolidated net profit at Rs 244.4 crore for third quarter of FY24, climbing 121.4 percent over corresponding period of last financial year. Revenue from operations grew by 64.6 percent year-on-year to Rs 1,056.4 crore during the quarter.

Venus Pipes & Tubes: Ace investor Ashish Kacholia has sold 1.03 lakh equity shares, which is equivalent to half a percent stake, in the company via open market transactions at an average price of Rs 1,511.68 per share.

Results on January 31: Maruti Suzuki India, Sun Pharmaceutical Industries, Shree Cement, Ambuja Cements, Bank of Baroda, Dabur India, Amara Raja Energy & Mobility, Atul Auto, Adani Wilmar, Balaji Amines, Data Patterns (India), DB Realty, Dixon Technologies, Fino Payments Bank, GMR Airports Infrastructure, Godrej Consumer Products, IRB Infrastructure Developers, Jindal Steel & Power, Jubilant FoodWorks, Jyothy Labs, Kalyan Jewellers India, Mankind Pharma, PVR Inox, and Suzlon Energy will be in focus ahead of declaring their December quarter earnings on January 31.