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

Domestic equity indices, Sensex and Nifty 50 are likely to open on a cautious note today amid mixed global market cues

Gift Nifty was trading lower than the previous close of 21,488, indicating a weak start for the Indian stock market indices.

Asian markets traded lower tracking mixed signals from Wall Street overnight. Japan’s Nikkei 225 fell 0.14% and the Topix was down marginally. Hong Kong’s Hang Seng index futures indicated a higher opening.

The US stock market ended mixed on Wednesday with the S&P 500 notching its fourth straight record high close, while Nasdaq hitting its highest since January 2022.

The Dow Jones Industrial Average declined 0.26%, while the S&P 500 rose 0.08% to end the session. The Nasdaq ended 0.36% higher.


 Tech Mahindra: The digital transformation, consulting, and business re-engineering services company has registered a 3.3 percent sequential growth in net profit at Rs 510.4 crore for the October–December period of FY24. Revenue from operations grew by 1.8 percent QoQ to Rs 13,101 crore, while revenue in dollar terms and constant currency increased by 1.1 percent each

Bajaj Auto: The two-and-three-wheeler major has recorded a 37 percent on-year growth in standalone net profit at Rs 2,042 crore for the quarter ended December FY24, with broad-based double-digit growth across all segments. Revenue from operations grew by 30 percent year-on-year to Rs 12,113.5 crore for the quarter, with 21.7 percent growth in sales volume

Tata Steel: The Tata Group company recorded a consolidated net profit of Rs 522.1 crore for the quarter ended December FY24, against a loss of Rs 2,502 crore in the year-ago period, with healthy operating numbers and a fall in input costs. Revenue from operations fell 3.1 percent year-on-year to Rs 55,312 crore for the quarter.

Mazagon Dock Shipbuilders: The shipbuilding company has signed a contract with the Ministry of Defense’s Acquisition Wing to construct and deliver 14 Fast Patrol Vessels (FPVs) for the Indian Coast Guard (ICG). The contract is worth Rs. 1,070 crore

Poonawalla Fincorp: Promoter Rising Sun Holdings has bought an additional 40,33,000 equity shares, or 0.52 percent stake, in the non-banking finance company at an average price of Rs 495.85 per share. However, Magma Ventures was the seller in this deal.

Container Corporation of India: The state-owned transport company has clocked 12.7 percent on-year growth in consolidated net profit at Rs 330.6 crore, with healthy growth in operating numbers. Consolidated revenue from operations grew by 10.3 percent year-on-year to Rs 2,210.6 crore for the quarter

CEAT: The tire maker has registered a more than five-fold increase in consolidated net profit at Rs 181.3 crore for the October-December period of FY24, increasing from Rs 34.85 crore in the same period last year, backed by strong operating numbers. Revenue from operations grew by 8.6 percent YoY to Rs 2,963.1 crore for the quarter.

Results on January 25: JSW Steel, Punjab National Bank, ACC, Adani Power, SBI Cards and Payment Services, SBI Life Insurance Company, Tata Technologies, Vedanta, Hindustan Petroleum Corporation, AU Small Finance Bank, Cholamandalam Investment and Finance Company, Cyient, Equitas Small Finance Bank, Indian Energy Exchange, Indraprastha Gas, SBFC Finance, Shriram Finance, and Syngene International will be declaring their quarterly earnings on January 25.