Indian stock markets are expected to open on a positive note on Tuesday, January 28, 2024, as indicated by the GIFT Nifty, which was trading 125 points or 0.55% higher at 22,935. The upbeat momentum comes after a challenging session on Monday, where both the NSE Nifty 50 and BSE Sensex closed in the red. The broader market saw significant losses, with the NSE Nifty falling by 263.05 points (1.14%) to end at 22,829.15, and the BSE Sensex slumping by 824.29 points (1.08%) to settle at 75,366.17.
The market is likely to see a higher opening driven by positive cues from global equity indices and strong expectations for corporate earnings reports. Here’s a look at the key stocks to watch out for in today’s trade, as companies from diverse sectors report earnings and other updates.
JSW Energy
JSW Energy, a prominent player in the Indian energy sector, is in the spotlight after recent developments in its renewable energy (RE) strategy. Following its acquisition of a 4,696 MW renewable energy platform from O2 Power for approximately Rs 12,468 crore, JSW Energy is gearing up to accelerate its capacity expansion plans. The company aims to significantly increase its renewable energy capacity ahead of the previously set timeline. With the push towards clean energy gaining momentum, JSW Energy’s growth prospects in the renewable space could make it an attractive stock for investors in the coming days.
Tata Steel
Tata Steel has reported a decline in its consolidated net profit for the third quarter of FY25. The company posted a net profit of Rs 327 crore, marking a significant 36% drop compared to the same period last year. Revenue from operations also fell by 3%, coming in at Rs 53,648 crore, down from Rs 55,312 crore in Q3 FY24. The weaker performance reflects the ongoing challenges in the global steel market, where prices have remained under pressure due to economic slowdowns in key markets. Despite the profit decline, Tata Steel’s diversified global footprint and strong market position in India keep it a stock to watch as investors assess the company’s resilience and long-term strategy.
Macrotech Developers
Macrotech Developers (formerly Lodha Developers) has seen a major development in its ongoing legal battle over a Rs 5,000 crore trademark dispute. The Bombay High Court has suggested mediation between the Lodha brothers, Abhishek and Abhinandan, who are embroiled in the legal tussle. The court has recommended efforts to resolve the dispute through mutual negotiation and mediation. The resolution of this matter could potentially have a significant impact on the company’s operations, especially as the dispute involves intellectual property that could affect its brand and marketing strategies. Investors will closely monitor the outcome of the mediation process.
Piramal Enterprises
Piramal Enterprises has delivered a strong performance in Q3 FY25, reporting a net profit of Rs 39 crore, a stark turnaround from the Rs 2,378 crore net loss posted in the same quarter last year. The diversified non-banking finance company has managed to significantly reduce its losses, signaling a recovery in its operations. The company’s financial performance, particularly in the context of its ongoing restructuring efforts, could make it a stock worth watching for investors looking for opportunities in the financial services space.
Indian Oil Corporation (IOC)
Indian Oil Corporation (IOC) has reported a sharp decline in its consolidated net profit for the third quarter of FY25. The company’s net profit fell by a staggering 76.7%, from Rs 9,224.85 crore in Q3 FY24 to Rs 2,147.35 crore. This massive fall in profits is attributed to the under-recovery on the sale of LPG cylinders and weak product cracks in the oil refining business. IOC had registered a loss of Rs 448.78 crore in the previous quarter, showing some improvement in its performance. The company’s ability to manage price volatility in global oil markets will be a key factor to monitor for investors moving forward.
Emami
Emami, one of India’s leading FMCG companies, has reported steady growth in its core domestic business. The company’s revenue from operations rose by 5% to Rs 1,049 crore, supported by a 6% increase in volume. The company’s EBITDA also saw an 8% increase to Rs 339 crore, and profit after tax rose by 8% to Rs 279 crore. Emami’s gross margin improved by 150 basis points to 70.3%, signaling efficient cost management and strong demand for its products. The company’s performance in the health, wellness, and personal care segments has kept it well-positioned in the market, making it an attractive option for investors seeking stability in the FMCG sector.
UltraTech Cement
UltraTech Cement is in advanced discussions with HeidelbergCement to acquire its Indian subsidiary, HeidelbergCement India. This potential acquisition is seen as a strategic move by UltraTech Cement to expand its presence in the Indian cement market, where demand remains robust due to infrastructure development. While the exact value of the deal has not been disclosed, the acquisition could enhance UltraTech’s competitive edge in the market, making the stock a focal point for investors.
Coal India
Coal India has reported a decline in its third-quarter net profit for FY25. The state-owned mining giant posted a net profit of Rs 8,491.22 crore, a drop of 17.49% compared to the same period last year. Revenue from operations also saw a marginal dip of 1.03%, totaling Rs 35,779.78 crore. The decrease in profits reflects a challenging operating environment in the coal industry, with fluctuating global commodity prices and domestic demand. Despite the decline, Coal India remains a critical player in India’s energy sector, and investors will be keeping a close eye on its performance as the government considers further reforms in the coal industry.
Adani Wilmar
Adani Wilmar has reported a strong set of results for Q3 FY25, with a 104.55% jump in net profit to Rs 410.93 crore, up from Rs 200.89 crore in Q3 FY24. The company’s revenue from operations surged by 31.42% to Rs 16,859.31 crore, reflecting strong demand for its edible oil and consumer goods products. The company’s ability to manage supply chain challenges and price volatility has helped it maintain strong growth, making it a standout performer in the FMCG and agricultural commodities space.
