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Earnings Today:
AGI Greenpac, One 97 Communications Paytm, Zomato, APL Apollo Tubes, Central Bank of India, Dixon Technologies, IDBI Bank, Indian Overseas Bank, Indian Railway Finance Corporation, ICICI Securities, Jammu & Kashmir Bank, L&T Finance, MCX India, Newgen Software Technologies, Oberoi Realty, and Sunteck Realty will declare their quarterly earnings later today.
Stocks to Watch:
Tech Mahindra’s consolidated net profit slipped 21.35% to Rs 983.2 crore in Q3 FY25 as against Rs 1,250.1 crore reported in Q3 FY24. However, revenue from operations declined marginally 0.2% to Rs 13,285.6 crore in the December quarter, from Rs 13,313.2 crore recorded in the preceding quarter of FY24.
Wipro’s consolidated net profit grew 4.51% to Rs 3,353.8 crore in Q3 FY25 as against Rs 3,208.8 crore posted in Q2 FY25. However, revenue from operations increased marginally to Rs 22,318.8 crore in the December 2024 quarter as against Rs 22,301.6 crore reported in the preceding quarter same year. the company’s board has declared an interim dividend of Rs 6 per equity share.
Jio Financial Services’ consolidated net profit marginally rose 0.32% to Rs 294.78 crore in Q3 FY25 as compared with Rs 293.82 crore in Q3 FY24. Total income jumped 8.34% to Rs 448.89 crore in Q3 FY25 as compared with Rs 414.33 crore in the corresponding quarter last year.
Kotak Mahindra Bank’s standalone net profit jumped 9.97% to Rs 3,304.80 crore on 13.86% rise in total income to Rs 16050.38 crore in Q3 FY25 over Q3 FY24.
ICICI Lombard’s net profit surged 67.89% to Rs 724.38 crore on 17.56% rise in total income to Rs 5,882.83 crore in Q3 FY25 over Q3 FY24.
5Paisa Capital’s consolidated net profit jumped 7.22% to Rs 16.17 crore in Q3 FY25 from Rs 15.08 crore reported in Q3 FY24. The company’s total income declined 14.97% year on year (YoY) to Rs 85.30 crore in the quarter ended 31 December 2024.
Dalmia Bharat’s wholly owned subsidiary, Dalmia Cement (Bharat) has entered into a share subscription and shareholders agreement to acquire 26% stake of Solis Urja Energy for total consideration of Rs 1,75 crore.
Adani Energy Solutions’ material subsidiary, Adani Electricity has entered into an agreement with Adani Properties to acquire 100% shareholding in Superheights Infraspace for Rs 475 crore. Superheights Infraspace holds development rights for 3,000 sq. m of land in Bandra Kurla Complex (BKC).
Net Interest Income (NII) for Q3 FY25 stood at Rs 7,196 crore, up 10% from Rs 6,554 crore recorded in Q3 FY24. Net interest margin (NIM) was 4.93% for Q3 FY25.
Operating profit was at Rs 5,181 crore during the quarter, up 13% as against Rs 4,566 crore reported in Q3 FY24.
Fees and services grew by 10% YoY to Rs 2,362 crore in the quarter ended 31 December 2024. Customers as on 31 December 2024 were 5.2 crore as compared to Rs 4.8 crore as on 31 December 2023.
Customer assets increased by 15% YoY to Rs 459,436 crore as at 31 December 2024 from Rs 400,759 crore as at 31 December 2023. Advances rose by 16% YoY to Rs 433,386 crore as at 31 December 2024 from Rs 372,464 crore as at 31 December 2023.
On the asset quality front, the gross non-performing asset (GNPA) ratio was 1.50% as of 31 December 2024, compared to 1.49% as of 30 September 2024 and 1.73% as of 31 December 2023.
The net non-performing assets (NNPA) ratio was 0.41% as of 31 December 2024, compared to 0.43% as of 30 September 2024 and 0.34% as of 31 December 2023.
The provision coverage ratio stood at 73% in Q3 FY25. During the quarter, Slippages were at Rs 1,657 crore from Rs 1,177 crore reported in the same period a year ago.
The capital adequacy ratio of the bank, as per Basel III, as at 31 December 2024 was 22.8% and the CET1 ratio of 21.7% (including unaudited profits).
Return on assets (ROA) for Q3 FY25 (annualized) was 2.10% as against 2.20% registered in Q3 FY24.
On a consolidated basis, the bank's PAT for Q3 FY25 was Rs 4,701.02 crore, up 10.22% YoY from Rs 4,264.78 crore in Q3 FY24. At the consolidated level, the return on assets (ROA) for Q3 FY25 (annualized) was 2.30% and the return on equity (ROE) for Q3 FY25 (annualized) stood at 12.43%.
Consolidated networth as at 31 December 2024 was at Rs 1,52,878 crore (including increase in reserves due to RBI’s Master Direction on Bank’s investment valuation of Rs 5,654 crore and gain on Kotak General Insurance (KGI) divestment of Rs 2,730 crore).
Total Assets Under Management as at 31 December 2024 were Rs 686,197 crore, up 29% YoY over Rs 533,365 crore as at 31 December 2023. The domestic MF equity AUM increased by 39% YoY to Rs 319,161 crore as at 31 December 2024.
Kotak Mahindra Bank is the flagship company of the Kotak Group and has diversified operations covering commercial vehicle financing, consumer loans, corporate finance and asset reconstruction. Through its subsidiaries, the bank is engaged in investment banking, equity broking, securities-based lending and car finance.
Vodafone Idea Ltd, Kotak Mahindra Bank Ltd, Mahanagar Telephone Nigam Ltd and CreditAccess Grameen Ltd are among the other gainers in the BSE's 'A' group today, 20 January 2025.
Tata Teleservices (Maharashtra) Ltd spiked 11.53% to Rs 79.29 at 11:46 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 24.64 lakh shares were traded on the counter so far as against the average daily volumes of 4.18 lakh shares in the past one month.
Vodafone Idea Ltd surged 9.65% to Rs 10. The stock was the second biggest gainer in 'A' group. On the BSE, 1525.17 lakh shares were traded on the counter so far as against the average daily volumes of 570.51 lakh shares in the past one month.
Kotak Mahindra Bank Ltd soared 9.31% to Rs 1922.3. The stock was the third biggest gainer in 'A' group. On the BSE, 5.04 lakh shares were traded on the counter so far as against the average daily volumes of 48685 shares in the past one month.
Mahanagar Telephone Nigam Ltd advanced 9.03% to Rs 51.07. The stock was the fourth biggest gainer in 'A' group. On the BSE, 18.04 lakh shares were traded on the counter so far as against the average daily volumes of 4.17 lakh shares in the past one month.
CreditAccess Grameen Ltd rose 8.16% to Rs 984.45. The stock was the fifth biggest gainer in 'A' group. On the BSE, 32377 shares were traded on the counter so far as against the average daily volumes of 68992 shares in the past one month.
Max Financial Services Ltd, Kotak Mahindra Bank Ltd, Tata Teleservices (Maharashtra) Ltd, Redington Ltd are among the other stocks to see a surge in volumes on BSE today, 20 January 2025.
Max Healthcare Institute Ltd notched up volume of 11.02 lakh shares by 10:46 IST on BSE, a 16.49 fold spurt over two-week average daily volume of 66843 shares. The stock slipped 0.98% to Rs.1,019.55. Volumes stood at 27741 shares in the last session.
Max Financial Services Ltd witnessed volume of 1.53 lakh shares by 10:46 IST on BSE, a 13.69 times surge over two-week average daily volume of 11192 shares. The stock dropped 2.00% to Rs.1,065.55. Volumes stood at 6850 shares in the last session.
Kotak Mahindra Bank Ltd notched up volume of 4.29 lakh shares by 10:46 IST on BSE, a 10.76 fold spurt over two-week average daily volume of 39884 shares. The stock rose 9.11% to Rs.1,918.90. Volumes stood at 23304 shares in the last session.
Tata Teleservices (Maharashtra) Ltd clocked volume of 21.07 lakh shares by 10:46 IST on BSE, a 6.11 times surge over two-week average daily volume of 3.45 lakh shares. The stock gained 12.67% to Rs.80.10. Volumes stood at 2.6 lakh shares in the last session.
Redington Ltd notched up volume of 3.54 lakh shares by 10:46 IST on BSE, a 3.39 fold spurt over two-week average daily volume of 1.05 lakh shares. The stock rose 6.37% to Rs.222.80. Volumes stood at 73647 shares in the last session.
At 13:25 IST, the barometer index, the S&P BSE Sensex, rallied 561 points or 0.73% to 77,165.52. The Nifty 50 index added 143.25 points or 0.62% to 23,346.45.
In the broader market, the S&P BSE Mid-Cap index rose 0.54% and the S&P BSE Small-Cap index gained 0.79%.
The market breadth was positive. On the BSE, 2,427 shares rose and 1,525 shares fell. A total of 187 shares were unchanged.
Economy:
India’s foreign exchange (forex) reserves declined $8.714 billion to $625.871 billion in the week ended January 10, according to the latest RBI data.
For the week ended January 10, foreign currency assets, a major component of the reserves, decreased by $9.469 billion to $536.011 billion, the data released on Friday showed.
Gold reserves increased by $792 million to $67.883 billion during the week. The special drawing rights (SDRs) were down by $33 million to $17.781 billion, the RBI said.
India’s reserve position with the IMF was down by $4 million at $4.195 billion in the reporting week, the apex bank data showed.
Gainers & Losers:
Kotak Mahindra Bank (up 9.44%), Wipro (up 6.21%), Bajaj Finance (up 3.70%), Bajaj Finserv(up 3.25%) and NTPC (up 2.93%) were the major Nifty gainers.
SBI Life Insurance Company (down 2.90%), Trent (down 1.71%), Shriram Finance (down 1.56%), HDFC Life Insurance Company (down 1.23%) and Tata Consultancy Services (TCS) (down 2.13%) were the major Nifty losers.
Kotak Mahindra Bank surged 8.93% to Rs 1,915.710 after the private lender's net profit jumped 9.97% to Rs 3,304.80 crore on 13.86% rise in total income to Rs 16,050.38 crore in Q3 FY25 over Q3 FY24.
Wipro jumped 7.13% to Rs 301.95 after the IT major's consolidated net profit grew 4.51% to Rs 3,353.8 crore in Q3 FY25 as against Rs 3,208.8 crore posted in Q2 FY25. However, revenue from operations increased marginally to Rs 22,318.8 crore in the December 2024 quarter as against Rs 22,301.6 crore reported in the preceding quarter same year.
Bharti Airtel rose 0.48% while Bajaj Finance rallied 3.70% after the Bharti Airtel and Bajaj Finance announced a strategic partnership to create one of India’s largest digital platforms for financial services and transform last mile delivery. The partnership will bring Airtel’s highly engaged customer base of 370 million, more than 12 lakh strong distribution network, and Bajaj Finance’s diversified suite of 27 product lines, and distribution heft of over 5,000 branches and 70,000 field agents.
Stock in Spotlight:
Tech Mahindra fell 0.29%. The IT major's consolidated net profit slipped 21.35% to Rs 983.2 crore in Q3 FY25 as against Rs 1,250.1 crore reported in Q3 FY24. However, revenue from operations declined marginally 0.2% to Rs 13,285.6 crore in the December quarter, from Rs 13,313.2 crore recorded in the preceding quarter of FY24.
United Breweries (UBL) jumped 4.98% after the company announced the resumption of supply of its beer to Telangana Beverages Corporation (TGBCL) with immediate effect.
GMR Airports Infrastructure rose 1.54% after the company reported an 8.5% year-on-year (YoY) increase in passenger traffic across all GMR airports, reaching over 10.8 million passengers in December 2024.
One 97 Communications (Paytm) added 0.60% after the company’s net loss reduced to Rs 208.3 crore in Q3 FY25 from net loss of Rs 219.8 crore posted in Q3 FY24. Revenue from operations increased 10.14% quarter on quarter (QoQ) but fell by 35.88% year over year (YoY) to Rs 1,827.8 crore in the quarter ended 31 December 2024.
Adani Energy Solutions rose 2.14% after the company’s material subsidiary Adani Electricity Mumbai (AEML), has executed share purchase agreement (SPA) with Adani Properties (APPL) for acquiring 100% shares of Superheights Infraspace (SIPL).
Krystal Integrated Services declined 1.74% after the company’s consolidated net profit jumped 18.06% to Rs 10.59 crore in Q3 FY25 as against Rs 8.97 crore posted in Q3 FY24. However, revenue from operations fell 2.36% to Rs 276.37 crore as against Rs 283.07 crore posted in the corresponding quarter last year.
Global Markets:
Most of the European market advanced as investors are looking ahead to Trump’s inauguration ceremony. Additionally, investors are also gearing up for the World Economic Forum in Davos, Switzerland, this week. At the annual event, political and business leaders, among others, will gather in the Alpine resort for a wide range of debates, from how to increase economic growth to the challenges that artificial intelligence poses.
Asian stocks advanced on Monday, buoyed by hopes that U.S. President-elect Donald Trump may adopt a less aggressive stance toward China than previously feared when he assumes office later in the day.
Regional markets took cues from Wall Street’s strong performance on Friday. U.S. stocks rallied as robust bank earnings and expectations of interest rate cuts fueled investor optimism. The Dow Jones Industrial Average climbed 0.78%, hitting a new one-month high, while the S&P 500 rose 1.00%, and the NASDAQ Composite added 1.51%. Key performers included NVIDIA Corporation (+3.10%), Amazon.com Inc (+2.39%), and Goldman Sachs Group Inc (+2.11%).
Investor sentiment improved further after Trump avoided mentioning trade tariffs during a 'victory lap' rally in Washington on Sunday. However, he reiterated plans to crack down on immigration and reduce government oversight of domestic companies.
Despite the optimism, uncertainty lingers. Fox News Digital reported that Trump is expected to sign a record number of executive orders upon taking office on Monday. While details remain unclear, some orders could potentially include increased trade tariffs against China.
Previously, Trump had vowed to impose tariffs of up to 60% on Chinese imports and suggested similar measures targeting Mexico and Canada. Such policies could disrupt global trade and pose challenges for export-driven economies.
Meanwhile, the People’s Bank of China (PBOC) left its benchmark loan prime rate unchanged on Monday, as widely anticipated. Beijing appears to be holding off on new stimulus measures while awaiting greater clarity on Trump’s trade policies.
Lastly, U.S. markets will remain closed on Monday in observance of Martin Luther King, Jr. Day.
In the cash market, the Nifty 50 gained 141.55 points or 0.61% to 23,344.75.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 4.23% to 16.42.
Kotak Mahindra Bank, Axis Bank and Zomato were the top traded individual stock futures contracts in F&O segment of NSE.
The January 2025 F&O contracts will expire on 30 January 2025.