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PRE-MARKET REPORT
The domestic equity market benchmark indices Sensex and Nifty 50 are expected to open muted on Thursday, following weakness in global markets following the US Federal Reserve’s monetary policy announcement.
Gift Nifty was trading around the 23,150 level, a premium of nearly 2 points from the Nifty futures’ previous close, indicating a muted start for the Indian stock market indices.
The US stock market ended lower on Wednesday after the US Fed kept interest rates unchanged as expected and Fed Chair Jerome Powell offered soothing comments on the economy.
The Dow Jones Industrial Average fell 140.04 points, or 0.31%, to 44,710.31, while the S&P 500 declined 29.03 points, or 0.48%, to end at 6,038.67. The Nasdaq Composite closed 106.08 points, or 0.54%, lower at 19,627.51.
Asian markets traded lower on Thursday following overnight losses on Wall Street after US Fed policy.
Japan’s Nikkei 225 fell 0.17% and the Topix dropped 0.21%. Australian markets climbed with the S&P/ASX 200 rising 0.37%. China, Taiwan, South Korea, and Hong Kong markets are closed for the Lunar New Year holiday.
STOCKS TODAY
Maruti Suzuki: India’s leading carmaker, Maruti Suzuki, reported a 13 percent year-on-year (YoY) growth in standalone net profit, reaching ₹3,525 crore for the third quarter of the fiscal year. Revenue from operations rose 16 percent YoY to ₹38,492 crore. The company’s EBITDA stood at ₹4,470 crore, marking a 14 percent increase YoY, though margins declined slightly to 11.6 percent.
Tata Motors: Tata Motors reported a 22.5 percent YoY decline in net profit, amounting to ₹5,451 crore for the quarter ended December 31, 2024. This was lower than the ₹7,025 crore net profit recorded in the same quarter of the previous fiscal year. Revenue, however, increased 1.8 percent YoY to ₹1.13 lakh crore. At the operating level, EBITDA dropped 14.7 percent to ₹13,081 crore compared to ₹15,333 crore in the year-ago period.
Bajaj Finance: Bajaj Finance reported a 17 percent YoY growth in its consolidated net profit for the December quarter, reaching ₹4,247 crore, surpassing analyst estimates. The total revenue from operations rose 13 percent to ₹16,035 crore. Net interest income (NII) saw a significant 23 percent YoY jump to ₹9,382 crore.
Adani Power: Adani Power’s net profit for the quarter increased by 7.4 percent to ₹2,940 crore, up from ₹2,737 crore in the previous year. Revenue grew by 5.2 percent YoY to ₹13,671.2 crore. The company’s EBITDA rose by 8 percent to ₹5,023 crore, with the margin expanding to 36.7 percent from 35.8 percent in the previous year. Additionally, the board approved enhanced fund-raising limits through Non-Convertible Debentures and a Qualified Institutional Placement.
IFCI: IFCI announced that its board has approved a ₹500 crore capital infusion through the preferential issue of shares to the Government of India. The board approved issuing 8,07,23,280 shares, subject to an extraordinary general meeting scheduled for February 28. The government’s holding in IFCI is expected to increase from the existing 71.72 percent.
CAMS: Computer Age Management Services (CAMS) reported a 40.5 percent YoY increase in net profit for Q3 FY25, reaching ₹125.5 crore. Revenue grew 28 percent YoY to ₹369.7 crore, while EBITDA surged 33.5 percent to ₹172.3 crore. Margins improved to 46.6 percent from 44.5 percent in the previous year.