- GIFT Nifty trades slightly lower at 25,453, indicating a flat to negative open
- Apple warns rising component costs may pressure profit margins amid AI spending concerns
- Gold rebounds, oil steadies after gains, amid geopolitical tensions and US-Iran warnings
Good morning!
The GIFT Nifty is trading marginally lower at 25,453.00, indicating a flat to negative open for the benchmark index. US and European index futures are also trading lower during Asian trading hours.
- S&P 500 futures are down 0.13%
- Euro Stoxx 50 futures down 0.55%.
US Market Wrap
US equity futures slipped at the open after Apple Inc. warned that rising component costs may pressure its profit margins, adding to broader concerns about whether major tech firms' substantial spending on artificial intelligence will yield adequate returns. Gold bounced back in early Friday trading, with silver also moving higher. Contracts tracking the S&P 500 and Nasdaq 100 dipped 0.2% early Friday. Technology stocks were in focus after Apple reported that higher input costs could erode margins, despite the company posting earnings that exceeded expectations, reports Bloomberg.
Asia Market Wrap
Asian equities were poised for a mixed opening after a volatile session in the US, where uncertainty over whether massive investments in artificial intelligence will deliver meaningful returns weighed on sentiment. Futures in Australia advanced, supported by gains in key metals such as iron ore and copper. Japanese equity contracts were little changed, while those tied to Hong Kong slipped in early Friday trading.
Commodity Check
Gold regained upward momentum after recording its first decline in nearly two weeks, with ongoing geopolitical tensions and a shift away from government bonds and major currencies fueling its record-setting surge. The metal climbed as much as 1.4% in early Friday trading, following a turbulent previous session in which it plunged 5.7% from an all‑time high of $5,595.47 before closing only slightly lower.
Oil held its ground after jumping more than 3% on Thursday, as traders assessed US President Donald Trump's warnings toward Iran and the potential consequences for Middle East supply routes. West Texas Intermediate hovered near $66 a barrel following a three‑day advance — supported in part by a softer dollar — while Brent closed above $70 for the first time since July.
Key Events Today
- US, India Discuss Expanding Coal Trade at Goa Energy Summit.
- Government to release fiscal deficit for April-December.
Market Recap
The markets closed on a positive note in the session. India's benchmark equity indices ended higher for a third consecutive session on Thursday, tracking gains in Asia. The NSE Nifty 50 ended in the green for the third consecutive day. The Nifty closed above the 25,400 mark with gains of over 0.3%. The benchmark index outperformed the broader markets.
Earnings Today
Aadhar Housing Finance, Aegis Logistics, AIA Engineering, Ajanta Pharma, Ambuja Cements, ArisInfra Solutions, Arvind, Asahi India Glass, Ashoka Buildcon, Astec Lifesciences, Aster DM Healthcare, Antony Waste Handling Cell, Bajaj Auto, Bank of Baroda, Blue Dart Express, Brigade Enterprises, Cholamandalam Investment and Finance Company, DOMS Industries, Epigral, Exide Industries, Gujarat Ambuja Exports, Glenmark Pharmaceuticals, Godfrey Phillips India, Greenpanel Industries, Insecticides (India), Intellect Design Arena, JBM Auto, Jindal Steel, Jupiter Life Line Hospitals, Kajaria Ceramics, KEC International, Dr. Lal PathLabs, LIC Housing Finance, Mayur Uniquoters, Medplus Health Services, Moil, Motherson Sumi Wiring India, National Aluminium Company, Navneet Education, Nestle India, The New India Assurance Company, NIIT, NTPC, Procter & Gamble Hygiene and Health Care, Power Grid Corporation of India, PSP Projects, Relaxo Footwears, Steel Authority of India, Scoda Tubes, Strides Pharma Science, Subros, Tata Investment Corporation, Triveni Engineering & Industries, United Foodbrands, Welspun Corp, Meesho
Earnings Post Market Hours
Blue Star Q3 FY26 (Cons, YoY)
Revenue up 4.2% at Rs 2,925 crore versus Rs 2,807 crore
Ebitda up 5.4% at Rs 221 crore versus Rs 209 crore
Margin flat at 7.5%
Net Profit down 39.2% at Rs 80.7 crore versus Rs 133 crore
Swiggy Q3 FY26 (Cons, YoY)
Revenue up 54% at Rs 6,148 crore versus Rs 3,993 crore
Ebitda loss at Rs 782 crore versus loss of Rs 725 crore
Net Loss at Rs 1,065 crore versus loss of Rs 799 crore
Apcotex Industries Q3 FY26 (YoY)
Net Profit up 91.4% at Rs 22.2 crore versus Rs 11.6 crore
Revenue down 6.7% at Rs 331 crore versus Rs 355 crore
Ebitda up 60.9% at Rs 43.5 crore versus Rs 27 crore
Margin at 13.1% versus 7.6%
Manappuram Finance Q3 FY26 (Cons, YoY)
Net Profit down 14.5% at Rs 241 crore versus Rs 282 crore
Calculated NII down 18% at Rs 1,299 crore
Dixon Technologies Q3 FY26 (Cons, YoY)
Revenue up 2.1% at Rs 10,672 crore versus Rs 10,454 crore
Ebitda up 6.1% at Rs 414 crore versus Rs 391 crore
Margin at 3.9% versus 3.7%
Net Profit up 67.8% at Rs 287 crore versus Rs 171 crore
REC Q3 FY26 (Cons, YoY)
Total Income up 5.4% at Rs 15,058 crore versus Rs 14,287 crore
Net Profit down 0.6% at Rs 4,052 crore versus Rs 4,076 crore
To pay interim dividend of Rs 4.6/share
TD Power Q3 FY26 (Cons, YoY)
Revenue up 26.4% at Rs 442 crore versus Rs 350 crore
Ebitda up 31.3% at Rs 80.4 crore versus Rs 61.3 crore
Margin at 18.2% versus 17.5%
Net Profit up 25.3% at Rs 56.3 crore versus Rs 44.9 crore
Tata Motors CV Q3 FY26 (Cons, YoY)
Revenue up 16.1% at Rs 21,847 crore versus Rs 18,819 crore
Ebitda up 40.8% at Rs 2,881 crore versus Rs 2,046 crore
Margin at 13.2% versus 10.9%
Net Profit down 48% at Rs 705 crore versus Rs 1,355 crore
Vedanta Q3 FY26 (Cons, QoQ)
Revenue up 17% at Rs 45,899 crore versus Rs 39,218 crore
Ebitda up 31% at Rs 15,171 crore versus Rs 11,612 crore
Margin at 41% versus 34%
Net Profit at Rs 7,807 crore versus Rs 3,479 crore
Nippon Life AMC Q3 FY26 (Cons, QoQ)
Total Income up 12.4% at Rs 781 crore versus Rs 695 crore
Net Profit up 17.2% at Rs 404 crore versus Rs 345 crore
Dabur India Q3 FY26 (Cons, YoY)
Revenue up 6.1% at Rs 3,559 crore versus Rs 3,355 crore
Ebitda up 7.7% at Rs 734 crore versus Rs 682 crore
Margin at 20.6% versus 20.3%
Net Profit up 7.3% at Rs 560 crore versus Rs 522 crore
Voltas Q3 FY26 (Cons, YoY)
Revenue down 1.1% at Rs 3,071 crore versus Rs 3,105 crore
Ebitda down 10.2% at Rs 177 crore versus Rs 197 crore
Margin at 5.8% versus 6.4%
Net Profit down 36% at Rs 85 crore versus Rs 132 crore;
One‑time cost of Rs 26.5 crore due to labour codes
HUDCO Q3 FY26 (YoY)
Calculated NII up 4% at Rs 1,025 crore versus Rs 983 crore
Net Profit down 3% at Rs 713 crore versus Rs 735 crore;
Enhances FY26 borrowing plan to Rs 80,000 crore vs Rs.65,000 Cr earlier
To pay 3rd interim dividend of Rs 1.5/share
IFCI Q3 FY26 (YoY)
Revenue up 53.1% at Rs 299 crore versus Rs 195 crore
Net Profit at Rs 6.9 crore versus loss of Rs 59 crore
Syrma SGS Tech Q3 FY26 (Cons, YoY)
Revenue up 45.4% at Rs 1,264 crore versus Rs 870 crore
Ebitda at Rs 160 crore versus Rs 79.5 crore
Margin at 12.61% versus 9.14%
Net Profit at Rs 103 crore versus Rs 49 crore
Usha Martin Q3 FY26 (Cons, YoY)
Revenue up 6.6% at Rs 917 crore versus Rs 861 crore
Ebitda up 23.3% at Rs 176 crore versus Rs 143 crore
Margin at 19.2% versus 16.6%
Net Profit up 16.7% at Rs 108 crore versus Rs 92.3 crore
Flair Writing Q3 FY26 (Cons, YoY)
Revenue up 20.1% at Rs 318 crore versus Rs 265 crore
Ebitda up 25.7% at Rs 56.9 crore versus Rs 45.3 crore
Margin at 17.9% versus 17.1%
Net Profit up 11.6% at Rs 32.7 crore versus Rs 29.3 crore
Pricol Q3 FY26 (Cons, YoY)
Revenue up 65.7% at Rs 1,020 crore versus Rs 616 crore
Ebitda up 57.9% at Rs 102 crore versus Rs 64.8 crore
Margin at 10% versus 10.5%
Net Profit up 53.7% at Rs 63.7 crore versus Rs 41.5 crore
MTAR Technologies Q3 FY26 (Cons, YoY)
Revenue up 59.3% at Rs 278 crore versus Rs 174 crore
Ebitda up 92.4% at Rs 64 crore versus Rs 33.3 crore
Margin at 23% versus 19.1%
Net Profit at Rs 34.7 crore versus Rs 16 crore
Carborundum Universal Q3 FY26 (Cons, YoY)
Revenue up 2.8% at Rs 1,291 crore versus Rs 1,256 crore
Ebitda down 11.2% at Rs 157 crore versus Rs 177 crore
Margin at 12.2% versus 14.1%
Net Profit at Rs 75.9 crore versus Rs 34.8 crore
Niva Bupa Health Q3 FY26 (YoY)
Revenue (Net Premium Earned) up 27.97% at Rs 1,454 crore versus Rs 1,136 crore
Net Loss at Rs 87.6 crore versus profit of Rs 13.2 crore
Container Corp Q3 FY26 (Cons, YoY)
Revenue up 4.49% at Rs 2307.51 crore versus Rs 2208.31 crore.
Ebitda up 10.55% at Rs 514.05 crore versus Rs 464.99 crore.
Ebitda margin up 122 bps at 22.27% versus 21.05%.
Net profit down 8.92% at Rs 333.91 crore versus Rs 366.65 crore.
To pay interim dividend of Rs 3.4/share
SIS Q3 FY26 (Cons, YoY)
Revenue up 24.5% at Rs 4,185 crore versus Rs 3,363 crore
Ebitda up 20.7% at Rs 189 crore versus Rs 157 crore
Margin at 4.5% versus 4.7%
Net Loss at Rs 138 crore versus profit of Rs 102 crore
One‑time cost of Rs 290 crore due to labour codes
To pay interim dividend of Rs 7/share
ITC Q3 FY26 (Cons, YoY)
Revenue up 5.7% at Rs 18,017 crore versus Rs 17,053 crore
Ebitda up 7.6% at Rs 6,271 crore versus Rs 5,828 crore
Margin at 34.8% versus 34.2%
Net Profit down 9.7% at Rs 5,089 crore versus Rs 5,638 crore
To pay interim dividend of Rs 6.5/share
Colgate-Palmolive India Q3 FY26 (YoY)
Revenue up 1.7% at Rs 1,486 crore versus Rs 1,462 crore
Ebitda down 2.7% at Rs 442 crore versus Rs 454 crore
Margin at 29.7% versus 31.1%
Net Profit up 0.3% at Rs 324 crore versus Rs 323 crore
Indegene Q3 FY26 (Cons, YoY)
Revenue up 30.8% at Rs 942 crore versus Rs 720 crore
Ebitda up 21% at Rs 160 crore versus Rs 132 crore
Margin at 16.9% versus 18.3%
Net Profit down 6.2% at Rs 103 crore versus Rs 110 crore
Fino Payments Bank Q3 FY26 (YoY)
Revenue (NII) up 42% at Rs 33.6 crore versus Rs 23.7 crore
Net Profit down 47% at Rs 12.3 crore versus Rs 23.1 crore
Operating profit down 27.8% at Rs 20.6 crore versus Rs 28.5 crore
Allied Blenders Q3 FY26 (Cons, YoY)
Revenue up 3% at Rs 1,003 crore versus Rs 974 crore
Ebitda up 16.2% at Rs 135.7 crore versus Rs 117 crore
Margin at 13.5% versus 12%
Net Profit up 15.7% at Rs 66.5 crore versus Rs 57.5 crore
Websol Energy Q3 FY26 (Cons, YoY)
Revenue up 77.2% at Rs 261 crore versus Rs 147 crore
Ebitda up 57.6% at Rs 106 crore versus Rs 67.5 crore
Margin at 40.8% versus 45.8%
Net Profit up 56.4% at Rs 65 crore versus Rs 41.6 crore
Orient Cement Q3 FY26 (YoY)
Revenue down 1.1% at Rs 636 crore versus Rs 643 crore
Ebitda up 54.3% at Rs 89.6 crore versus Rs 58.1 crore
Margin at 14.1% versus 9%
Net Profit at Rs 27.8 crore versus Rs 10.1 crore; one‑time cost of Rs 6.4 crore due to labour codes
GE Shipping Q3 FY26 (Cons, YoY)
Revenue up 17.6% at Rs 1,454 crore versus Rs 1,237 crore
Ebitda up 36.8% at Rs 836 crore versus Rs 611 crore
Margin at 57.5% versus 49.4%
Net Profit up 36.9% at Rs 813 crore versus Rs 594 crore; to pay interim dividend of Rs 9/share
Ion Exchange Q3 FY26 (Cons, YoY)
Revenue up 6.4% at Rs 734 crore versus Rs 691 crore
Ebitda down 21.5% at Rs 59.3 crore versus Rs 75.5 crore
Margin at 8.1% versus 10.9%
Net Profit down 58.2% at Rs 20.3 crore versus Rs 48.6 crore
One‑time cost of Rs 16.97 crore due to labour codes
NTPC Green Energy Q3 FY26 (Cons, YoY)
Revenue up 29.3% at Rs 653 crore versus Rs 505 crore
Ebitda up 34% at Rs 567 crore versus Rs 424 crore
Margin at 86.9% versus 83.9%
Net Profit down 73.4% at Rs 17.5 crore versus Rs 65.6 crore
Greenlam Industries Q3 FY26 (Cons, YoY)
Revenue up 17.3% at Rs 706 crore versus Rs 602 crore
Ebitda up 7.3% at Rs 68.2 crore versus Rs 63.6 crore
Margin at 9.7% versus 10.6%
Net Loss at Rs 0.2 crore versus profit of Rs 12.7 crore
Sanghi Industries Q3 FY26 (YoY)
Revenue up 6.2% at Rs 275 crore versus Rs 259 crore
Ebitda down 24.6% at Rs 22.8 crore versus Rs 30.3 crore
Margin at 8.3% versus 11.7%
Net Loss at Rs 115 crore versus loss of Rs 97 crore
Laxmi Organic Q3 FY26 (Cons, YoY)
Revenue down 8.6% at Rs 7,187 crore versus Rs 7,863 crore
Ebitda down 33.2% at Rs 499 crore versus Rs 748 crore
Margin at 6.9% versus 9.5%
Net Profit down 13.3% at Rs 254 crore versus Rs 293 crore
Aegis Vopak Q3 FY26 (Cons, YoY)
Revenue up 22.3% at Rs 197 crore versus Rs 161 crore
Ebitda up 23.1% at Rs 146 crore versus Rs 119 crore
Margin at 73.9% versus 73.4%
Net Profit up 62.7% at Rs 61.5 crore versus Rs 37.8 crore
ACME Solar Q3 FY26 (Cons, YoY)
Revenue up 42.3% at Rs 497 crore versus Rs 349 crore
Ebitda up 44.7% at Rs 444 crore versus Rs 307 crore
Margin at 89% versus 88%
Net Profit up 1.5% at Rs 114 crore versus Rs 112 crore
Prestige Estates Q3 FY26 (Cons, YoY)
Revenue at Rs 3,873 crore versus Rs 1,655 crore
Ebitda up 45.7% at Rs 860 crore versus Rs 590 crore
Margin at 22.2% versus 35.7%
Net Profit at Rs 223 crore versus Rs 17.7 crore
Paytm Q3 FY26 (Cons, QoQ)
Revenue up 6.5% at Rs 2,194 crore versus Rs 2,061 crore
Ebitda up 10.6% at Rs 156 crore versus Rs 141 crore
Margin at 7.1% versus 6.8%
Net Profit at Rs 225 crore versus Rs 21 crore;
Appoints Vijay Shekhar Sharma as MD of arm PPSL
Stocks In News
- ITI: The company received Rs.16 crore as a 2% EMD from the CGST Department for valuation of a 21‑acre land parcel
- JK Cement: The company commissions a 3 MTPA cement grinding unit in Bihar.
- JB Chemicals: Narayan Saraf resigns as Chief Financial Officer.
- Apar Industries: The company announces a new line of business with a working capital requirement of Rs. 10 crore.
- Gland Pharma: Satnam Singh Loomba will retire as Chief Operating Officer effective March 31.
- Vedanta: The company's stake in Hindustan Zinc falls to 60.71% following the OFS.
- Praj Industries: The company demonstrates an integrated ethanol‑to‑jet (ETJ) pathway for sustainable aviation fuel using Axens Jetanol technology.
- Reliance Industries: NCLT approves the resolution of SevenHills Healthcare and the resolution plan submitted by Capri, the equity support provider.
- Tata Motors: The board approves a scheme of amalgamation between Tata Motors, TMF Holdings, and TMF Business Services.
- HPCL: The company signs a pact with Oil India for a bio‑gas project.
- ABB India: The company clarifies that news reports relate to the ultimate holding company and are not connected to ABB India. (Clarifies on reports of ABB's 2026 outlook and $2 bn buyback.)
- HAL (Hindustan Aeronautics Ltd): The company signs contracts in Hyderabad with Pawan Hans Ltd for the supply of 10 Dhruv NG helicopters along with associated spares and accessories, valued at over Rs. 1,800 crore.
- Marico: The company enters into definitive agreements to acquire 93.27% of the paid‑up share capital of Zea Maize Private Limited, the owner of the “4700BC” brand, from PVR INOX.
- Angel One: The board will meet on Feb. 3 to consider raising funds via non‑convertible debentures.
- Wipro: The company launches a new operating model for its enterprise functions.
- Atlanta Electricals: The company receives five orders worth a total of Rs. 288 crore from two power sector entities.It receives two orders worth Rs. 146 crore from Karnataka Power Transmission Corporation for supplying 13 transformers.It receives three orders worth Rs. 142 crore from Datta Power Infra for supplying 15 transformers.
- UPL: The company completes the secondary listing of its existing GDRs on NSE IX.
- Pricol: The company incorporates a wholly owned arm, Pricol Autotech, and will invest Rs. 1 crore in the subsidiary.
- WeWork India: The company enters into a lease deed for capacity expansion in Hyderabad.
- Oberoi Realty: NCLT approves the resolution plan for Hotel Horizon. The consortium will acquire 100% stake for Rs. 919 crore.
- Welspun Corp: The company ranks among the top five steel companies globally and second in India in S&P Global's Corporate Sustainability Assessment (CSA).
- LT Foods: The Hungary government rejects the company's proposed acquisition of Global Green Group.
- Allied Blenders: The company will make an additional investment of up to Rs. 54 crore in its arm, Minakshi Agro Industries.
- Route Mobile: The company's arm, Route SMS Solutions Zambia, is voluntarily deregistered.
- Embassy Developments: Names of the company's arms—Serpentes Constructions and Albasta Developers-are struck off from the Registrar of Companies.
- R M Drip: The company's arm, Brahmanand Pipes, completes acquisition of land for a new manufacturing facility.
- Sheela Foam: Shareholders approve the designation of Rahul Gautam as chairman and managing director, and Tushar Gautam as Vice‑Chairman and Joint MD.
- ONGC: The company clarifies it is not engaged in any negotiations with ExxonMobil.
- R M Drip & Sprinkler: The company completes acquisition of land for a new manufacturing unit in Nashik through its arm.
- Indiabulls: Shareholders approve the appointment of Gurbans Singh as Whole‑time Director and Executive Chairman for five years, and approve the appointment of Divyesh B. Shah as Whole‑time Director and CEO.
- Coforge: The company receives early approval under the U.S. HSR Act; the regulator grants early termination of the waiting period as of Jan. 28.
- Tata Steel: The High Court further extends interim protection in both matters until the next hearing on February 2.
- Cummins: The company allotted 22,372 shares worth Rs. 2.7 crore to acquire an 8.78% stake in Clean Max.
- Filatex India: The company provides a corporate guarantee for its arm to take a term loan of up to Rs. 200 crore from Punjab National Bank.
- South Indian Bank: The board considers the request of MD and CEO P. R. Seshadri to not seek reappointment; he will continue until completion of his current term.
- NTPC: Executive Directors Aditya Dar, Sangeeta Kaushik, Anil Kumar, and Anil Shrivastava will superannuate on Jan. 31.
- JSW Energy: The company's arm completes the acquisition of Tidong Power Generation, valuing the asset at an enterprise value of Rs. 1,728 crore.
- V2 Retail: The board will meet on Feb. 3 to consider a stock split.
- Magellanic Cloud: The company's arm receives a Letter of Acceptance from Central Railway to commission AI‑based CCTV surveillance systems in the Nagpur Division.
- Allied Blenders & Distillers: The Company sees a reshuffles in finance leadership, CFO Jayant Manmadkar moves to newly created Group Finance Director role, while former CFO Ramakrishnan Ramaswamy returns as CFO effective Feb. 2, 2026
Bulk And Block Deals
- MANAPPURAM: Morgan Stanley Asia (Singapore) bought & Goldman Sachs Bank Europe SE sold 65.2 lk shares at Rs. 291.65 a piece
- SUNTECK: Goldman Sachs Bank Europe Se bought 36.5 lk shares & Morgan Stanley Asia (Singapore) bought 35 lk shares at Rs. 375.1 per piece & Clsa Global Markets sold 71.6 lk shares at Rs. 375.1 a piece
- Balu Forge Industries: Sixteenth Street Asian Gems Fund sold 9.2 lk shares at Rs. 358.77 a piece
Corporate Actions
Interim Dividend
Sona BLW Precision Forgings Ltd. Interim Dividend - Rs 1.60 Per Share
Kirloskar Pneumatic Company Ltd. Interim Dividend - Rs 3.50 Per Share
Motilal Oswal Financial Services Ltd. Interim Dividend - Rs 6 Per Share
Godrej Consumer Products Ltd. Interim Dividend - Rs 5 Per Share
Gandhar Oil Refinery (India) Ltd. Interim Dividend - Re 0.75 Per Share
Coforge Ltd. Interim Dividend - Rs 4 Per Share
Innova Captab Ltd. Interim Dividend - Rs 2 Per Share
CG Power and Industrial Solutions Ltd. Interim Dividend - Rs 1.30 Per Share
Mastek Ltd. Interim Dividend - Rs 8 Per Share
Computer Age Management Services Ltd. Interim Dividend - Rs 3.50 Per Share
Advani Hotels & Resorts (India) Ltd. Interim Dividend - Re 1 Per Share
Other Actions
Matrimony.Com Ltd. Buy Back
Siemens Energy India Ltd. Dividend - Rs 4 Per Share
Board Meeting
Bank of Baroda: Fund Raising
Muthoot Microfin Ltd.: Fund Raising
Lock In
Six Months Share lock in opening
Indiqube Spaces: 67 million lock in shares, 32% of total outstanding shares
Insider Trade
Inox Green Energy Services: Inox Leasing and Finance, Promoter Group disposed 2.75 crore warrants and acquired 1.98 crore shares
List of securities shortlisted in Short - Term ASM Framework Stage: Hindustan Copper, Kitex Garments
List of securities to be excluded from ASM Framework: IFCI
F&O Cues
- Nifty Feb futures is up 0.35% to 25,539 at a premium of 121 points.
- Nifty Options 3rd Feb Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 23,300.
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