Good morning!
The GIFT Nifty is trading marginally lower near 25,297, indicating a flat open for the benchmark Nifty 50.
US and European index futures are trading lower during Asian trading hours.
S&P 500 futures trade 2.06% lower
Euro Stoxx 50 futures trade 0.52% lower
Markets On Home Turf
Indian equities ended the volatile session in the red, extending the fall for the second day. Nifty had fallen below the 25,200 levels but closed above it. Intraday, both Nifty and Sensex fell nearly 1.50%, the worst intraday fall since April 7, 2025. Nifty ended 353 points or 1.38% lower at 25,232.50. Sensex ended 1,065.71 points or 1.28% lower at 82,180.47.
US Markets Wrap
President Donald Trump's threat to impose tariffs on European nations that rejected his proposal to purchase Greenland has unsettled markets. S&P 500 futures rose 0.2% as of 10:08 a.m. Tokyo time. Euro Stoxx 50 futures fell 0.3%, reports Bloomberg
Asian Markets Wrap
Asian stocks extended their losses on Wednesday, tracking the Wall Street selloff, as tensions between the US and Europe over Greenland sparked fears of a trade war. Asian stocks dropped 0.5% at the open after the S&P 500 posted its steepest loss since October. In a sign that stocks may be steadying, equity-index futures for the US rose 0.2% in early Asian trading, reports Bloomberg.
Commodities Check
Gold prices soared to a record high, exceeding $4,700 an ounce, while silver also reached an all-time peak amid escalating tensions between the US and Europe over Greenland. The crisis, coupled with Japan's growing concerns about its sovereign debt, fueled demand for safe-haven assets, including precious metals. Specifically, spot gold rose to $4,731.07 an ounce, and silver hit $95.50, reports Bloomberg.
In the oil market, prices declined due to Trump's interest in Greenland and the subsequent market jitters. Brent crude fell below $64 a barrel, while West Texas Intermediate dropped near $59 a barrel. The exact prices for Brent and WTI were $63.84 and $59.18, respectively, reflecting the market's uncertainty, reports Bloomberg.
Key Events To Watch
- Government to release eight core industries output data for December
- UAE to Double Trade With India, Signs Long-Term LNG Contract
Stocks In News
- Crompton Greaves: The company launches a 20W mobile charger in the lighting segment and introduces new lighting products under the ‘Aquilla Plus' and ‘Delphinus' brands.
- Sunteck Realty: The company's arm, Apricum Buildwell Private Limited, completes 100% acquisition of Shreejikrupa Hotels and Properties.
- Hindustan Zinc: The board will meet on Jan. 23 to consider fundraising via non‑convertible debentures.
- Embassy Developments: The company launches three residential projects in the Mumbai Metropolitan Region with a gross development value of over Rs. 12,000 crore and plans to invest over Rs. 4,500 crore for expansion in the Mumbai region.
- Vikram Solar: The company reappoints Neha Agrawal as Director, designated as Executive Director, for a term of three years effective March 22.
- Unimech Aerospace: The company will form a joint venture in Saudi Arabia and execute a JV pact with Yusuf Bin Ahmed Kanoo Co to establish a precision machining unit in the country.
- Capri Global: The board will meet on January 29 to consider Q3 results and fundraising via debt.
- Spandana Sphoorty: Members approve the appointment of Venkatesh Krishnan as Director and as Managing Director & CEO of the company.
- UPL: The company clarifies that it has not signed any agreement or entered into any pact with the Karnataka government to improve farm productivity.
- Zaggle Prepaid Ocean Services: The company signs an agreement with Forever New Apparels to provide facilities for the procurement and leasing of mobile phones to Forever New employees.
- HDFC Bank: RBI approves the re‑appointment of Kaizad Bharucha as Deputy Managing Director for a tenure of three years, effective from April 19.
- ONGC: The company appoints Ashish Bhatnagar and Debasish Mukherjee as Executive Directors.
- Veranda Learning Solutions: The company has informed the exchange about the receipt of an observation letter with no adverse observations (No Objection letter) from the National Stock Exchange
- Power Grid Corporation: The board approves the procurement of cold spare transformers and reactors worth Rs. 914 crore.
- Imagicaaworld Entertainment: The company signs a non‑binding offer with KHRPL to form a joint venture in Gujarat.
- Sheela Foam: The company's arm, Staqo World, merges with Staqo Software.
- HCL Technologies: The company partners with Carahsoft for digital transformation in the US, with Carahsoft to serve as its public sector distributor in the region.
- Infibeam Avenues: The company changes its name to ‘AvenuesAI Limited'.
- Dalmia Bharat: The company's 3.6 MTPA clinkerisation capacity in Assam commences commercial production.
- Delhivery: TransportOne launches an autonomous transportation management system to automate logistics using AI agents.
- Genus Power: The company will acquire an 86.49% stake in Newlectric Innovation.
- Lemon Tree Hotels: The company signs a new 48‑room hotel property in Uttar Pradesh.
- Bharti Airtel: The board will meet on Feb. 5 to consider Q3 earnings.
- Cholamandalam Investment: The board allots 4,000 non‑convertible debentures worth Rs. 400 crore as part of a total issue size of Rs. 1,000 crore, including a green‑shoe option of Rs. 600 crore.
- Pace Digitek: The company's arm receives an order worth Rs. 94.5 crore from BSNL for the supply and five‑year maintenance of 25,000 lithium‑ion battery modules.
- MedPlus Health: The company's arm receives drug license suspension orders for select stores in Telangana and Karnataka.
- Edelweiss Financial Services: The company's arm, EAAA India Alternatives, files a DRHP for an IPO of Rs. 1,500 crore.
- REC: The company's step‑down arm, Rajgarh III Power Transmission, has been struck off from the Register of Companies.
- JSW Energy: The company's arm signs a power purchase agreement with the West Bengal DISCOM for a 1,600 MW thermal power plant.
- Gujarat Fluorochemicals: The company's arm incorporates an Oman‑based subsidiary named GFCL EV Advanced Materials.
- AWL Agri Business: Shareholders approve the appointment of Shrikant Kanhere as Managing Director and Saumin Sheth as Whole‑Time Director, designated as Chief Operating Officer.
- Rama Steel Tubes: The company allots 15.3 crore shares for the acquisition of a 21.6% stake in Automech Group.
- Restaurant Brands Asia: The board approved an increase in authorised share capital to Rs. 900 crore from Rs. 700 crore and approved the issuance of equity shares (and warrants) on a preferential basis
- Ramkrishna Forgings: The company commences commercial production at its aluminium forging unit in Jharkhand, which has a production capacity of 3,000 tonnes per annum.
- Avenue Supermarts: The company opens a new store in Ludhiana, taking the total number of stores to 443.
- Man Infraconstruction: The company's arm, MICL Tigertail, dilutes its membership interest to 25% from 50% for $1.2 million.
- Muthoot Microfin: The Board approves allotment of NCDs worth Rs.150 crore.
Earnings Post Market Hours
J&K Bank Q3 FY26 (YoY)
Profit up 11% at Rs 588.73 crore versus Rs 531.51 crore
NII down 1% at Rs 1,480 crore versus Rs 1,509 crore
Gross NPA at 3% versus 3.32% (QoQ)
Net NPA at 0.68% versus 0.76% (QoQ)
IndiaMART Q3 FY26 (Cons, YoY)
Revenue up 13.4% at Rs 402 crore versus Rs 354 crore
Ebitda down 3% at Rs 134 crore versus Rs 138 crore
Margin at 33.4% versus 39%
Profit up 55.6% at Rs 188 crore versus Rs 121 crore
Persistent Systems Q3 FY26 (Cons, QoQ)
Revenue up 5.5% at Rs 3,778 crore versus Rs 3,581 crore
EBIT up 8.5% at Rs 632 crore versus Rs 583 crore
Margin at 16.7% versus 16.3%
Profit down 6.8% at Rs 439 crore versus Rs 471 crore
To pay interim dividend of Rs 22/share
Cyient DLM Q3 FY26 (Cons, YoY)
Revenue down 31.8% at Rs 303 crore versus Rs 444 crore
Ebitda down 2% at Rs 27.5 crore versus Rs 28.1 crore
Margin at 9.1% versus 6.3%
Net Profit up 2.2% at Rs 11.2 crore versus Rs 10.9 crore
AU Small Finance Bank Q3 FY26 (YoY)
NII up 16% at Rs 2,341 crore versus Rs 2,023 crore
Operating Profit up 1% at Rs 1,215 crore versus Rs 1,204 crore
Net Profit up 26.5% at Rs 668 crore versus Rs 528 crore
Gross NPA at 2.3% versus 2.41% (QoQ)
Net NPA flat at 0.88% (QoQ)
DCM Shriram Q3 FY26 (Cons, YoY)
Revenue up 13.8% at Rs 4,003 crore versus Rs 3,519 crore
Ebitda up 7.2% at Rs 532 crore versus Rs 496 crore
Margin at 13.3% versus 14.1%
Net Profit down 19.1% at Rs 212 crore versus Rs 262 crore
To pay second interim dividend of Rs 3.6/share
Shoppers Stop Q3 FY26 (Cons, YoY)
Revenue up 2.6% at Rs 1,419 crore versus Rs 1,379 crore
Ebitda down 11.3% at Rs 218 crore versus Rs 246 crore
Margin at 15.4% versus 17.8%
Net Profit down 69.1% at Rs 16.1 crore versus Rs 52.2 crore
CreditAccess Grameen Q3 FY26 (Cons, YoY)
Revenue up 8% at Rs 1,490 crore versus Rs 1,380 crore
Ebitda up 126% at Rs 813 crore versus Rs 360 crore
Margin at 54.5% versus 26.07%
Net Profit at Rs 252 crore versus loss of Rs 99.5 crore
Rallis India Q3 FY26 (YoY)
Revenue up 19.3% at Rs 623 crore versus Rs 522 crore
Ebitda up 31.8% at Rs 58 crore versus Rs 44 crore
Margin at 9.3% versus 8.4%
Net Profit down 81.8% at Rs 2 crore versus Rs 11 crore; One-time cost of Rs 35 crore in Q3
Canara Robeco AMC Q3 FY26 (YoY)
Total Income up 12.5% at Rs 121 crore versus Rs 108 crore
Net Profit up 8.3% at Rs 52.8 crore versus Rs 48.7 crore
Supreme Petrochem Q3 FY26 (Cons, QoQ)
Revenue up 14.6% at Rs 1,281 crore versus Rs 1,118 crore
Ebitda up 1.8% at Rs 102 crore versus Rs 100 crore
Margin at 7.9% versus 8.9%
Net Profit down 36.7% at Rs 30.6 crore versus Rs 48.3 crore
United Spirits Q3 FY26 (YoY)
Revenue up 7.31% at Rs 3,683 crore versus Rs 3,432 crore
Ebitda up 5.1% at Rs 618 crore versus Rs 588 crore
Margin down 35 bps to 16.77% versus 17.13%
Net Profit up 11.83% at Rs 529 crore versus Rs 473 crore
To pay interim dividend of Rs 6/share
PTC India Financial Q3 FY26 (Cons, YoY)
Net Profit down 26.9% at Rs 49.1 crore versus Rs 67.1 crore
Calculated NII down 33% at Rs 52.4 crore
Earnings On Wednesday
Anant Raj, Bajaj Consumer Care, Bank of India, Dalmia Bharat, Dr Reddys Laboratories, Gallantt Ispat, Gravita India, Hindustan Petroleum Corporation, Jindal Stainless, KEI Industries, Oracle Financial Services Software, PNB Housing Finance, Rajratan Global Wire, Sagar Cements, Supreme Industries, Tata Communications, Tatva Chintan Pharma Chem, Thangamayil Jewellery, UTI Asset Management Company, Eternal
IPO Offering
Shadowfax Technologies
Logistics solution provider offers e-commerce express parcel delivery and a suite of value-added offerings. Clients include Meesho, Flipkart, Myntra, Swiggy, Bigbasket, Zepto, Nykaa, Blinkit, Kartrocket, Zomato, Uber etc
The public issue was subscribed to 47% on day 1. The bids were led by Qualified institutional investors (38%), non-institutional investors (22%), retail investors (1.1x)
Listing
Amagi Labs: The company's shares will debut on the stock exchange on Wednesday. The public issue was subscribed 13.98 times on day 3. The bids were led by Qualified institutional investors (12.47 times), non-institutional investors (22.86 times), and retail investors (4.99 times).
Bulk & Block Deals
- Tata Motors Ltd.: BNP Paribas Financial market buys, 35.43 lakh shares at Rs.429.30 per share, Goldman sachs bank Europe se – odi sells 35.43 lakh shares at Rs 429.3.
- Aditya Birla Fas & Rt: Fidelity Securities Fund sold 2.1 crore shares at Rs 66.2 per share, Societe Generale bought 75 lakh shares at Rs. 65.78 per share
- Sigachi Industries: Anurag Reddy Narreddy sold 20 lakh shares shares at Rs 24.49 apiece
- Aditya Birla Lifestyle Brands: Fidelity Securities Fund sold 2.36 crore shares at Rs 110 per share
Corporate Actions
Interim Dividend
Angel One: Rs 23 Per Share
ICICI Prudential Asset Management: Rs 14.85 Per Share
Board meet
5Paisa Capital: Fundrraising
Trading Tweaks
List of securities shortlisted in Short -Term ASM Framework Stage: IFCI
Price Band change from 20% to 10%: StyleBaazar
F&O Cues
Nifty Jan futures is down 1.28% to 25,268 at a premium of 36 points.
Nifty Options 2th Jan Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 25,000.
Securities in ban period: SAIL, SAMMAANCAP
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