Indian equity markets may open flat on Wednesday, January 21, 2026, amid muted cues from Asian markets. GIFT Nifty futures were trading around 25,287, up about 32 points at around 8:10 am, indicating a likely range-bound opening for the Nifty-50. Investor focus is expected to remain on stocks with quarterly results, corporate updates, and investment-related announcements.
Several major companies are scheduled to report their third-quarter results on Wednesday, which could lead to stock-specific movements. Companies set to announce Q3 results include Dr Reddy’s Laboratories, Bajaj Consumer Care, Eternal, Dalmia Bharat, Bank of India, Canara HSBC Life Insurance, Hindustan Petroleum Corporation, KEI Industries, PNB Housing Finance, Tata Communications, and UTI Asset Management Company. The earnings announcements may influence both individual stock prices and broader sector sentiment.
Shares of HDFC Bank are likely to be in focus after the Reserve Bank of India approved the reappointment of Kaizad Bharucha as a whole-time director and Deputy Managing Director of the bank. The reappointment will be effective from April 19, 2026, for a period of three years.
Supreme Petrochem reported a decline in its third-quarter performance. The company’s standalone profit fell 57.7 percent year-on-year to Rs 30.1 crore, while revenue declined 10 percent to Rs 1,264.7 crore.
Embassy Developments announced a major expansion plan in the Mumbai Metropolitan Region. The company plans to invest around Rs 4,500 crore in residential projects across Worli, Juhu, and Alibaug. The projects are expected to have a combined gross development value exceeding Rs 12,000 crore, with launches likely to begin from the fourth quarter of FY26.
AU Small Finance Bank reported growth in its third-quarter performance. Net profit rose 26.3 percent year-on-year to Rs 667.6 crore, while net interest income increased 15.7 percent to Rs 2,341.3 crore. Asset quality improved, with gross non-performing assets declining to 2.30 percent and net NPAs remaining stable at 0.88 percent.
Indiamart Intermesh posted higher earnings in the third quarter. Consolidated profit increased 55.6 percent year-on-year to Rs 188.3 crore, while revenue grew 13.4 percent to Rs 401.6 crore. Other income rose sharply to Rs 135.4 crore.
JSW Energy is expected to be watched after its subsidiary, JSW Thermal Energy Two, signed a power purchase agreement with West Bengal State Electricity Distribution Company for a 1,600 MW thermal power project at Salboni in West Bengal. The project is expected to be completed over the next six years.
Rallis India reported a sharp decline in profitability for the third quarter. Consolidated profit fell 81.8 percent year-on-year to Rs 2 crore, despite revenue rising 19.3 percent to Rs 623 crore. The quarter included an exceptional loss of Rs 35 crore.
Persistent Systems reported mixed results for the third quarter. Consolidated profit increased 17.8 percent year-on-year to Rs 439.4 crore, while revenue rose 23.4 percent to Rs 3,778.2 crore. EBIT grew 19.1 percent to Rs 542.7 crore, though margins declined to 14.4 percent. In dollar terms, revenue rose 17.3 percent year-on-year to $422.5 million.
Highway Infrastructure received a letter of intent from the National Highways Authority of India for operations and user fee collection at the Mundka toll plaza on Urban Extension Road–II. The project has a total value of Rs 64.68 crore.
United Spirits reported growth in its third-quarter performance. Consolidated profit increased 24.8 percent year-on-year to Rs 418 crore, while total income rose 7.6 percent to Rs 3,694 crore. The board approved an investment of Rs 3.2 crore in Sober, increasing the company’s stake to 25 percent.
Cyient DLM reported a marginal increase in third-quarter profit, with consolidated profit rising 2.2 percent year-on-year to Rs 11.2 crore. Revenue declined 31.7 percent to Rs 303.3 crore.
Shares of Power Grid Corporation of India may also remain in focus after the board approved capital expenditure of Rs 914 crore for the purchase of cold spare transformers and reactors.
