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PRE-MARKET REPORT
The domestic equity market indices Sensex and Nifty 50 are expected to open cautiously on Tuesday following weakness in global markets.
Gift Nifty was trading around 22,923, a premium of nearly 76 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.
The US stock market ended mixed on Monday, with the Nasdaq posting its biggest one-day percentage drop since December 18. A low-cost Chinese artificial intelligence model, DeepSeek’s AI Assistant, prompted a steep selloff in US chipmakers.
The Dow Jones Industrial Average gained 289.33 points, or 0.65%, to 44,713.58, while the S&P 500 lost 88.96 points, or 1.46%, to 6,012.28. The Nasdaq Composite closed 612.47 points, or 3.07%, lower at 19,341.83.
Asian markets traded lower on Tuesday following overnight losses on Wall Street amid a sell-off in technology stocks on concerns over China’s DeepSeek.
Japan’s Nikkei 225 declined 0.67% while the Topix dropped 0.36%. Hong Kong’s Hang Seng index futures indicated a higher opening. Several Asian markets, including Taiwan, South Korean, and Chinese markets, are closed for the Lunar New Year holiday.
STOCKS TODAY
Coal India: The Board of Coal India Ltd., the nation’s largest mining company, declared a second interim dividend of ₹5.60 per equity share for the financial year 2024-25. This dividend, based on the face value of ₹10 per share, has a record date of January 31, 2025, for eligibility. The payment is scheduled to be disbursed by February 26, 2025. Coal India reported a net profit of ₹8,491.2 crore for the quarter. However, this represents a 17.5 percent year-on-year (YoY) decline from ₹10,291.7 crore during the corresponding period of the previous year.
ITC Hotels: The National Stock Exchange (NSE) announced that shares of ITC Hotels Ltd., the demerged hotels division of ITC Ltd., will commence trading on January 29, 2025. Shareholders of ITC Ltd. received one share of ITC Hotels for every 10 shares held in the parent company. The last discovered price for ITC Hotels shares was ₹260 on the NSE and ₹270 on the BSE. A second price discovery session is set for January 29, 2025.
Tata Steel: Tata Steel reported a net profit of ₹295.5 crore for Q3 FY25, down 43.4 percent YoY from ₹522 crore in the corresponding quarter of the previous year. The company also recorded an exceptional loss of ₹126.2 crore, which is significantly lower than the ₹334.13 crore loss in the same period last year. Revenue from operations stood at ₹53,648.3 crore, surpassing the poll estimate of ₹52,550 crore but reflecting a 3 percent YoY decline from ₹55,312 crore.
Adani Wilmar: FMCG major Adani Wilmar posted a remarkable 104 percent year-on-year (YoY) rise in net profit for the third quarter, reaching ₹411 crore. Revenue from operations surged 31 percent YoY to ₹16,859 crore. On a sequential basis, net profit grew 32 percent from ₹311 crore recorded in the September quarter, while revenues rose 17 percent quarter-on-quarter (QoQ). The company reported a healthy volume growth of 5 percent YoY in Q3FY25, despite significant increases in raw material costs.
ACC: Cement manufacturer ACC reported a 103 percent year-on-year (YoY) jump in its consolidated net profit for the December quarter, reaching ₹1,092 crore compared to ₹538 crore in the corresponding period last year. Revenue from operations for Q3FY25 stood at ₹5,207 crore, reflecting a 7 percent increase from ₹4,855 crore in the same quarter of the previous financial year. The profit is attributed to the company’s owners.
Petronet LNG: Petronet LNG Ltd., India’s largest liquefied natural gas company, posted a 25.5 percent YoY increase in net profit at ₹867 crore for Q3 FY25. In the same quarter last year, the company reported a net profit of ₹1,190.3 crore. Sequentially, the net profit rose 2.3 percent from ₹847.6 crore in the preceding quarter. Revenue from operations declined 17.09 percent YoY to ₹12,227 crore from ₹14,747 crore and fell 6 percent quarter-on-quarter (QoQ) from ₹13,021.8 crore.