Indian stock markets faced significant pressure on Tuesday, January 21, with the Nifty 50 tumbling 320 points (1.37%) to close at 23,025, marking its lowest closing since June 6, 2024. The Bank Nifty also fell sharply by 780 points (1.58%) to 48,571. Market breadth was heavily tilted towards the bears, with 2,001 stocks declining compared to 544 advancing on the NSE.
Amid this negative sentiment, some companies reported strong earnings.
PNB Housing Finance posted a 36% rise in net profit to ₹471.4 crore for Q3 FY25, driven by a 15% jump in net interest income (NII).
ICICI Prudential Life also impressed with a 43% surge in profit to ₹326 crore, fueled by a robust 23% rise in premium income.
On the flip side, Dalmia Bharat, the cement major, saw a sharp 75.2% drop in net profit to ₹66 crore.
India Cementsreported a widened loss of ₹428.8 crore due to declining revenues and an exceptional loss.
Jana Small Finance Bankalso saw a 17.8% dip in profit, despite an increase in NII.
These mixed earnings underscore the broader market volatility amid global and domestic headwinds.
