GIFT Nifty drops 67.1 points, Sensex and Nifty also decline today. Focus on results and updates from key companies like TCS, IREDA, Tata Elxsi, Adani Total Gas, and Swiggy.
Stocks to Watch Today: On January 10, 2025, GIFT Nifty Futures traded at 23,581, down 67.1 points at 7:32 AM. In the previous session, the Sensex closed at 77,620.21, declining by 528.28 points (0.68%). Similarly, the NSE Nifty50 closed at 23,526.50, down 162.45 points (0.69%).
Quarterly Results to be Announced
January 10: Companies like PCBL, CESC, and Just Dial will release their quarterly results today.
January 11: Avenue Supermarts (DMart), Concord Drugs, Kandagiri Spinning Mills, and Rita Finance and Leasing will announce their quarterly results.
Key Corporate Updates:
1. TCS (Tata Consultancy Services): TCS declared a net profit of ₹12,380 crore for the third quarter, 11.9% higher than the ₹11,058 crore in the same quarter of the previous financial year. However, considering a one-time legal settlement of ₹958 crore, the year-over-year (YoY) net profit growth was 5.5%.
2. IREDA (Indian Renewable Energy Development Agency): The government-funded IREDA recorded a net profit of ₹425.38 crore in the October-December quarter, 27% higher than ₹335.53 crore in the corresponding quarter of the previous year.
3. Tata Elxsi: The company's operational income for the quarter ended December 2024 was ₹939 crore, compared to ₹955.1 crore in the previous year. Net profit for the quarter was ₹199 crore, a 3.6% decrease from ₹229.4 crore in the corresponding period.
4. Keystone Realtors: Keystone Realtors reported a 40% surge in December quarter sales bookings, reaching ₹863 crore compared to ₹616 crore last year, reflecting robust housing demand.
5. Adani Total Gas: GAIL (India) has increased domestic gas allocation by 20%, effective from January 16, 2025. This increase will help Adani Total Gas maintain retail prices.
6. Mahanagar Gas: GAIL has informed Mahanagar Gas of a 26% increase in domestic gas allocation, applicable to APM prices. This increase, effective from January 16, is expected to positively impact the company's profitability.
7. Religare Enterprises: The Madhya Pradesh High Court has lifted the stay on the annual general meeting (AGM) of Religare Enterprises (REL), which was scheduled for December 31.
8. Adani Wilmar: Adani Commodities LLP, the promoter of Adani Wilmar, plans to sell its 20% stake in the company.
9. Indian Overseas Bank: The public sector bank plans to sell ₹11,500 crore worth of non-performing assets (NPAs) to asset reconstruction companies to improve its balance sheet.
10. Vodafone Idea (Vi): Vodafone Idea has raised ₹1,910 crore through Vodafone Group Plc entities, strengthening its capital position.
11. Swiggy: Swiggy's quick commerce platform, Instamart, has expanded to over 75 cities in India and will soon be available as a separate app.
12. Swiggy/Zomato: The National Restaurant Association of India (NRAI) may approach the Competition Commission of India (CCI) against Zomato and Swiggy's recently launched 10-minute food delivery apps, to ensure effective competition control.
13. SAIL (Steel Authority of India): SAIL has supplied around 45,000 tonnes of steel for the Kumbh Mela, contributing to the necessary infrastructure for the event.
14. IOC/BPCL/HPCL: Reports suggest the government plans to provide a ₹35,000 crore subsidy to Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL) to control rising oil prices.
These key updates will influence investor interest in the stocks of these companies during today's trading sessions.
