Stock Market LIVE Updates: GIFT Nifty suggests a positive start; US, Asian markets mixed
#1 Profit falls 4.5 percent to Rs 47.9 crore Vs Rs 50.1 crore, YoY
#2 Revenue tanks 41.4 percent to Rs 123.4 crore Vs Rs 210.4 crore, YoY
#1 Transmission network length spikes to 26,485 ckm (circuit kilometer) Vs 20,422 ckm, YoY
#2 Power transformation capacity zooms to 84,286 MVA Vs 54,661 MVA, YoY
#3 Average system availability stands at 99.69 percent Vs 99.68 percent, YoY
#4 Transmission availability stands at 99.21 percent Vs 99.69 percent, YoY
The company has received an order for the supply of goods and services for the construction of 400KV D/C Raipur-Tiroda (Quad ACSR Moose) transmission lines in Chhattisgarh and Maharashtra from Adani Energy Solutions.
JSW Energy has received a letter of intent from the Resolution Professional for its resolution plan submitted for KSK Mahanadi Power Company under the corporate insolvency resolution process of the Insolvency and Bankruptcy Code. KSK Mahanadi Power Company owns a 3,600 MW thermal power plant in Chhattisgarh.
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| HCL Tech | 1,804.35 | -9.11 | 55.22k |
| Axiscades Tech | 720.00 | -2.47 | 3.10k |
| LTIMindtree | 5,895.75 | -2.27 | 2.26k |
| Onward Tech | 291.70 | -2.11 | 656 |
| Zensar Tech | 729.90 | -2.09 | 8.00k |
| Quick Heal Tech | 561.00 | -1.67 | 810 |
| Wipro | 287.20 | -1.59 | 77.77k |
| Tech Mahindra | 1,631.25 | -1.51 | 3.09k |
| Mastek | 2,771.20 | -1.48 | 1.05k |
| R Systems Intl | 444.00 | -1.44 | 142 |
| Newgen Software | 1,554.60 | -1.34 | 2.02k |
| Infosys | 1,939.45 | -1.14 | 8.65k |
| 63 Moons Tech | 828.45 | -1.07 | 2.30k |
| Persistent | 5,942.00 | -1.02 | 723 |
| Control Print | 702.70 | -1.02 | 49 |
| L&T Technology | 4,803.85 | -0.99 | 178 |
| MphasiS | 2,751.60 | -0.98 | 1.15k |
| Xchanging Sol | 103.55 | -0.96 | 2.06k |
| eMudhra | 888.35 | -0.85 | 873 |
| Dynacons Sys | 1,310.00 | -0.8 | 500 |
Promoter Kinex India is set to sell a 6.29 percent stake (1.91 crore shares) in the company via an offer-for-sale (OFS) on January 14 and January 15. The floor price for the offer has been set at Rs 22 per share. The OFS will open for non-retail investors on January 14 and for retail investors on January 15.
The company has secured additional orders worth Rs 561 crore since December 23, 2024. These include orders for communication equipment, electro-optics, upgrades for satcom networks, radar and fire control systems, spares, and services. With these, BEL’s total orders for the current financial year now stand at Rs 10,362 crore.
The constant refrain from many saner voices that the broader market is overpriced and may correct sharply is now playing out. Reversion to mean valuations are happening in large caps, too. Strengthening dollar, 10-year US bond yields rising to above 4.7%, uncertainty regarding Trump’s actions after January 20th, slowdown in India’s economy and poor corporate earnings, sharp surge in crude …..all have combined to cause this market correction.
Now it appears that the market is a bit oversold and this favours a bounce back in the near-term. But that trend, if it plays out, is unlikely to sustain. There is more pain likely in mid and small caps. There is a message from the net institutional activity in the market yesterday. DII buying was Rs 3174 crores higher than FII selling. This means that smart money like HNIs are also selling in the market. The FII strategy of continuously adding to short positions this month has been successful.
The sensible option for retail investors is to buy beaten down quality largecaps and wait patiently.
The company has received orders worth Rs 35 crore from Sambalpur University in Odisha for Wi-Fi and LAN, and Rs 29.14 crore for an integrated security system from Central Railways. It has forayed into security systems and education/ICT domains.
#1 Profit rises 3.6 percent to Rs 35.7 crore Vs Rs 34.5 crore, YoY
#2 Revenue falls 7.5 percent to Rs 194.3 crore Vs Rs 210.1 crore, YoY
#3 EBITDA plunges 42.4 percent to Rs 32.1 crore Vs Rs 55.8 crore, YoY
#4 Margin declines 1,000 bps to 16.5 percent Vs 26.5 percent, YoY
IT firm HCL Technologies (HCLTech) on January 13 reported 5.5 percent on-year rise in net profit at Rs 4,591 crore for the quarter ended December 31, 2024, in line with the Street expectations. The IT firm declared interim dividend of Rs 18 per equity share of Rs 2 face value, which includes special dividend of Rs 6 per share to celebrate 25 years of HCLTech’s public listing.
HCL Tech’s revenue from operations rose 5 percent to Rs 29,890 crore in Q3 FY25 as against Rs 28,446 crore in Q3FY24.