As of 3:34 p.m., the Dow Jones Industrial Average and S&P 500 future were 0.37% and 0.40% higher, respectively. The Nasdaq Future is up 0.56%.
Europe: ECB Monetary Policy Outcome — 6:45 p.m.
US: Advance GDP Estimate — 7:00 p.m.
US: Unemployment Claims — 7:00 p.m.
US: Advance GDP Price Index — 7:00 p.m.
Europe: ECB Press Conference — 7:15 p.m.
US: Pending Home Sales — 8:30 p.m.
US: Energy Information Administration Weekly Natural Gas Storage Report — 9:00 p.m.
The NSE Nifty 50 and BSE Sensex rose for third day in a row.
The Nifty 50 and Sensex ended 0.37% and 0.30% higher, respectively.
The NSE Nifty Realty rose the most, while the NSE Nifty Media declined the most.
The NSE Nifty Midcap 150 ended 0.17% higher.
The NSE Nifty Smallcap 250 ended 0.18% down.
Revenue up 10.4% to Rs 719 crore versus Rs 651 crore.
Net Profit falls 88% to Rs 9.1 crore versus Rs 73.5 crore.
Ebitda down 30% to Rs 104 crore versus Rs 149 crore.
Margin at 14.5% versus 22.9%.
For faster earnings update click here.
Several stocks are making headlines in trade on Thursday amid the ongoing earnings season. From Tata Motors' disappointing results to a stellar performance by Hitachi Energy, here are six notable stocks that are in the news at noon. To access the article click here.
Total income rose 10% to Rs 32,042 crore versus Rs 29,038 crore.
Net profit rose 3.4% to Rs 2,231 crore versus Rs 2,158 crore.
S Sreenivasan to step down as CFO but continue as President of Insurance & Special Projects.
Board approves appointment of Ramandeep Singh Sahni as CFO effective Feb. 1.
Gross written premium was up 5% at Rs 12,987 crore versus Rs 12,415.
Mahindra Holidays has expanded its footprint in Uttarakhand with the launch of Club Mahindra Patkote, Jim Corbett, as per an exchange filing.
LTIMindtree has partnered with FLS Mining for the strategic transformation of application maintenance services, aiming to enable seamless support for enhanced application maintenance and development services at FLS, according to an exchange filing.
Maruti Suzuki India Ltd. clocked growth in the fiscal third quarter that met analyst estimates, as a revival in small car sales and exports propped up the numbers.
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Info Edge (India) Ltd.'s board will consider a stock split on February 5, according to an exchange filing.
Receives DCGI approval to manufacture Pimavanserin in India
Company will also manufacture Pimavanserin for other Indian Pharma Cos
Pimavanserin is an atypical antipsychotic drug
Pimavanserin is used for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis
Pimavanserin, marketed globally as Nuplazid
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Acadia Pharmaceuticals
Nuplazid, along with its other brand Daybue , is projected to generate more than $1 billion in net sales in 2025
Larsen & Toubro Ltd. has secured an order in the range of ₹1,000-2,000 crore for the development of freight handling facilities in the Middle East, as per an exchange filing.
JBM Auto Shares Gain 10% After Strong Q3 Earnings
Tata Motors Q3 Review: Target Price Cut By Analysts Amid Concerns Over JLR Performance
Natco Pharma has received approval for the ANDA of Everolimus tablets for oral suspension, a medication used to treat Tuberous Sclerosis Complex, according to an exchange filing.
Whirlpool Shares Locked In Lower Circuit Near 10-Month On Parent's Stake Sale Plans
KPI Green Share Price Hits 5% Upper Circuit On Rs 1,311-Crore Coal India Contract
Upgrade to Buy from Sell
Target price hiked from Rs 490 to Rs 525, which implied a 20% upside.
Sell premised around increased backbook and elevated medical inflation along with weakening new business
Post that ramped up agency, diversifying distribution engine and hiking prices on multiple products
Better visibility on incremental claims trends
Profitability improvement trajectory will be gradual
Sweet entry point will reward the patient investor
Rollover to Dec‘26E. and hike TP
KPI Green Energy Ltd. has signed a contract worth Rs 1,311 crore with Coal India for the development of a 300 megawatt Solar PV plant in Gujarat, as per an exchange filing
Market breadth was skewed in favour of buyers. Around 1,939 stocks advanced, 840 stocks declined, and 130 stocks remained unchanged on BSE.
Bajaj Healthcare Ltd. has received DCGI approval for the manufacturing of Pimavanserin in India, a drug used to treat hallucinations and delusions associated with Parkinson's Disease Psychosis, according to an exchange filing.
At pre-open, the NSE Nifty 50 was trading 6.40 points or 0.03% higher at 23,169.50, and the BSE Sensex was trading 0.08% higher at 76,592.19.
Rupee weakened by 3 paise to open at 86.58 against the US Dollar.
It closed at 86.55 on Wednesday.
Source: Bloomberg
Government’s spending power is likely to be limited by lower deficit targets, lower indirect-tax income
With equity markets correcting, capital gains taxes contribution can be expected to slow in the coming year
Fiscal policy expected to tighten, the onus will be more on monetary policy to stem the slowdown
Believe the upcoming budget will continue to prioritize infrastructure and public investment, with some support for consumption
Emphasis will be on key sectors like Railways, Housing (PMAY), Urban Infrastructure, Defence, besides retaining the concessional loans extended to states
Budget speech will be important if it touches upon any pressing economic reforms or policies
Recommend hedging with Nifty collars and buying straddles to prepare for potential near-term volatility into India’s budget
Reiterate Overweight on Financials, Consumer Staples, Healthcare, Real Estate and Industrials
Expect QT to continue through until at least 3Q of this year
Baseline is for the US Federal Reserve to remain on hold for upcoming meetings, before normalizing policy mildly later in the year
Do not rule out no Fed cuts either
Reckon there is somewhat a political angle to this
With Fed’s action largely priced in, there has been easing elsewhere across developed markets
Seeing some key EMs easing or on their way to easing rates
Policy trilemma could tilt more toward letting the INR find its equilibrium to some extent
May provide some policy flexibility to RBI on rate settings in general
Opens up space for a Feb-25 repo cut
Retain Reduce with a target price Rs 720 versus Rs 750 earlier
Company lagged estimate due to realisation/margin miss in JLR and the India CV division
JLR revenue guidance cut reduces our FY25E EBITDA by 4%.
Building in a muted revenue and EBITDA CAGR of 2% each over FY25–27E.
Expect muted performance at 1% CAGR in India CV division
Markets in Japan recovered on Thursday in holiday thin trade. Most markets in the region remained closed for Lunar holiday. Market participants in the region assessed outcome of the US Federal Open Market Committee's policy meet outcome.
The Nikkei 225 was trading 0.19% higher as of 7:45 a.m.
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