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At 13:25 IST, the barometer index, the S&P BSE Sensex, rose 58.55 points or 0.08% to 77,677.40. The Nifty 50 index fell 3.60 points or 0.02% to 23,522.90.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.44% and the S&P BSE Small-Cap index slipped 1.66%.
The market breadth was weak. On the BSE, 931 shares rose and 2,951 shares fell. A total of 114 shares were unchanged.
Gainers & Losers:
Tata Consultancy Services (up 5.91%), Tech Mahindra (up 3.94%), Wipro (up 3.51%), Infosys (up 2.76%) and HCL Technologies (up 2.46%) were the major Nifty gainers.
Tata Consultancy Services (TCS) rallied 5.91% after the company reported 3.95% increase in consolidated net profit to Rs 12,380 crore in Q3 FY25 as compared with Rs 11,909 crore in Q2 FY25. Revenue from operations fell 0.45% QoQ to Rs 63,973 crore during the quarter.
Shriram Finance (down 3.91%), IndusInds Bank (down 3.76%), Adani Enterprises (down 2.73%), Sun Pharmaecuticals (down 2.48%) and HIndalco Industries (down 2.35%) were the major Nifty losers.
Stocks in Spotlight:
Tata Elxsi tumbled 6.58% after the design led technology service provider reported 3.59% decline in net profit to Rs 199 crore on 2.72% increase in revenue from operations to Rs 939.17 crore in Q3 FY25 over Q3 FY24.
JSW Steel advanced 1.15% after the company announced its highest ever consolidated Crude Steel production for the Q3 FY25 was at 7.03 million tonnes, which is higher by 2% as compared with 6.87 million tonnes reported in Q3 FY24.
GTPL Hathway tumbled 9.48% after the company’s consolidated net profit slipped 57.03% to Rs 10.17 crore in Q3 FY25 as compared with Rs 23.67 crore in Q3 FY24. Revenue from operations increased 4.27% to Rs 887.27 crore in Q3 FY25 as compared with Rs 850.87 crore posted in the corresponding quarter last year.
Aditya Birla Fashion and Retail (ABFRL) shed 0.70%. The company informed that its board will meet on 15 January 2025 to consider the proposal for raising funds, subject to required approvals.
IRB Infrastructure Developers declined 3.13%. The company’s toll collection jumped 19% to Rs 580 crore in December 2024 as against Rs 488 crore posted in December 2023.
Senco Gold fell 5.27%. The company announced that its revenue grew 22% year on year (YoY) and retail growth was steady at 19% YoY in the quarter ended 31 December 2024.
Indian Renewable Energy Development Agency (IREDA) dropped 4.38%. The company’s standalone net profit jumped 27% to Rs 425 crore on 36% increase in revenue from operations to Rs 1,698 crore in Q3 FY25 over Q3 FY24.
The Phoenix Mills rose 1.45% after the company said that its total consumption stood at approximately Rs 3,998 crore in Q3 FY25, registering a growth of 21% year on year (YoY).
Indegene declined 0.93%. The company announced a strategic partnership with CliniOps, a leading provider of advanced digital clinical trial solutions to drive innovative digital transformation in clinical trial processes and achieve better patient outcomes.
Global Markets:
U.S. stock futures point to a weak open Friday, with the Dow Jones Industrial Average futures down 54 points. This follows persistent concerns over a slower pace of interest rate cuts in 2025, exacerbated by upcoming nonfarm payroll data that could provide further insights into the economy. The upcoming earnings season, kicking off next week with major bank reports, adds another layer of uncertainty.
European market traded mixed on Friday as investors as investors monitor economic data and ongoing turbulence in the U.K.’s debt markets.
Asian indices mostly declined on Friday, concluding a volatile first full trading week of 2025. Investor sentiment remains fragile amid concerns over slower U.S. rate cuts and the possibility of a rate hike by the Bank of Japan.
Japanese stocks extended their losing streak to three days as stronger-than-expected wages and private spending data increased expectations of a potential BOJ rate hike in January.
Weak inflation data from China, released earlier this week, further dampened sentiment, compounded by speculation regarding potential trade tariffs against the country.
Regional markets mirrored losses in global markets, as hawkish signals from the Federal Reserve this week reinforced expectations of slower monetary easing in 2025.
The U.S. market was closed Thursday to honor the passing of former President Jimmy Carter.
The bank reported a 11% rise on YoY basis while 1% decline QoQ in deposits to Rs 4,09,570 crore as of December 2024.
CASA ratio reduced to 34.9% as of 31 December 2024 as compared with 38.5% as of 31 December 2023.
The retail deposits and deposits from small business customers amounted to Rs 1,88,731 crore as of 31 December 2024, up 3.75% YoY.
IndusInd Bank caters to both consumer and corporate customers. As of 30 September 2024, the bank’s distribution network included 3,040 branches/ banking outlets and 3,011 ATMs, as against 2,631 branches/ banking outlets and 2903 ATMs as of September 30, 2023. The client base stood at approximately 41 million as on 30 September 2024.
The bank reported 39.24% decline in standalone net profit to Rs 1,325.45 crore in Q2 FY25 as against Rs 2,181.47 crore posted in Q2 FY24. However, total income increased 9.91% YoY to Rs 14,870.18 crore in the September 2024 quarter.
Shares of IndusInd Bank closed 0.53% higher at Rs 998.10 on Friday, 3 January 2024.
IndusInd Bank Ltd gained for a third straight session today. The stock is quoting at Rs 1011.35, up 2.02% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.45% on the day, quoting at 24079.19921875. The Sensex is at 79453, down 0.61%. IndusInd Bank Ltd has risen around 1.25% in last one month.
Meanwhile, Nifty Bank index of which IndusInd Bank Ltd is a constituent, has risen around 3.93% in last one month and is currently quoting at 51605.55, down 0.84% on the day. The volume in the stock stood at 35.2 lakh shares today, compared to the daily average of 45.17 lakh shares in last one month.
The benchmark January futures contract for the stock is quoting at Rs 1014.5, up 1.78% on the day. IndusInd Bank Ltd is down 38.65% in last one year as compared to a 11.18% spurt in NIFTY and a 6.18% spurt in the Nifty Bank index.
The PE of the stock is 9.52 based on TTM earnings ending September 24.
Axis Bank Ltd lost 1.08% today to trade at Rs 1096.45. The BSE BANKEX index is down 0.2% to quote at 58608.3. The index is up 1.7 % over last one month. Among the other constituents of the index, HDFC Bank Ltd decreased 0.54% and IndusInd Bank Ltd lost 0.41% on the day. The BSE BANKEX index went up 8.72 % over last one year compared to the 11.95% surge in benchmark SENSEX.
Axis Bank Ltd has lost 3.4% over last one month compared to 1.7% gain in BSE BANKEX index and 2.26% rise in the SENSEX. On the BSE, 3875 shares were traded in the counter so far compared with average daily volumes of 2.31 lakh shares in the past one month. The stock hit a record high of Rs 1339.55 on 12 Jul 2024. The stock hit a 52-week low of Rs 995.95 on 19 Apr 2024.