As the trading session begins, several companies are poised to attract market attention due to notable developments and quarterly performance updates. Here’s a detailed look at the stocks likely to be in focus today:
Avenue Supermarts: Robust Revenue Growth Amid Margin Pressure
Avenue Supermarts Ltd., the operator of the popular DMart retail chain, reported a 4.8% year-on-year increase in net profit to ₹723.7 crore for the quarter ending December 31, 2024. The company’s revenue surged by 17.7% to ₹15,973 crore, showcasing strong growth momentum. However, EBITDA grew by 8.7% to ₹1,217.3 crore, with margins narrowing to 7.6% from 8.3% in the same period last year, reflecting cost pressures.
Oberoi Realty: Key Developer for Bandra Reclamation Project
Oberoi Realty Ltd. has been appointed as the developer for a significant slum rehabilitation project at Bandra Reclamation, Mumbai. Spanning 10,300 square meters, this project aligns with the company’s strategy to expand its footprint in Mumbai’s high-demand real estate market. The assignment, confirmed by the Slum Rehabilitation Authority (SRA) on January 10, 2025, reinforces Oberoi Realty’s position as a leading developer in the region.
Ola Electric: Under Regulatory Scrutiny
Ola Electric Mobility Ltd. is in the spotlight after receiving a third communication from the Central Consumer Protection Authority (CCPA) as part of an ongoing investigation. The inquiry, dated January 10, 2025, addresses over 10,000 consumer complaints related to service deficiencies and potential consumer rights violations. Ola Electric has expressed its full cooperation with the authorities and continues to provide the requested information.
Just Dial: Stellar Profit Growth
Just Dial Ltd., India’s prominent local search engine, reported an impressive 42.7% year-on-year growth in net profit to ₹131.3 crore for Q3 FY25. Revenue from operations increased by 8.4% to ₹287.3 crore, supported by its expanding digital services portfolio. The company’s robust performance highlights its strong market position and continued growth trajectory.
PCBL: Profit Decline Amid Revenue Growth
PCBL Ltd. reported a 39.1% year-on-year drop in net profit, which stood at ₹93.1 crore for the quarter. Despite the decline in profit, the company saw revenue growth of 21.3% to ₹2,010 crore, while EBITDA rose by 13.7% to ₹317.4 crore. However, EBITDA margins contracted to 15.8%, down from 16.9% a year ago. PCBL also announced an interim dividend of ₹5.5 per share, with the record date set for January 16, 2025.
Vedanta: Refinancing Debt Obligations
Vedanta Resources Ltd., led by billionaire Anil Agarwal, is reportedly in talks with leading banks to secure loans exceeding $450 million. The funds aim to refinance the company’s outstanding junk bonds. Notable lenders include First Abu Dhabi Bank PJSC, Barclays Plc, Mashreqbank PSC, and Standard Chartered Plc. This refinancing initiative, with a tenure of three to five years, underscores Vedanta’s strategy to manage its debt effectively.
IRM Energy: Increased Gas Allocation Fuels Profitability
GAIL (India) Limited has announced a 29% increase in domestic gas allocation for IRM Energy Ltd., effective January 16, 2025. This adjustment will boost the domestic gas share in IRM’s CNG segment from 37% to 51%, significantly enhancing profitability and strengthening the company’s position in the energy sector.
Stock Market Update: Sensex and Nifty Crash Amid Global and Domestic Headwinds
Indian equity benchmarks BSE Sensex and Nifty50 witnessed a sharp decline in Monday morning trade, reflecting global and domestic pressures. At 9:31 AM, Sensex dropped 652 points or 0.84%, trading at 76,726.48, while Nifty50 fell 202 points or 0.86% to 23,229.90. The rupee hit a life-time low of ₹86.27 against the US dollar, falling by 23 paise in early trade.
Market Dynamics: Crude Oil and Dollar Index
The domestic market’s muted performance on Friday carried over into the week, fueled by concerns over rising crude oil prices and a stronger dollar index. Crude oil surged to three-month highs amid supply worries and new sanctions on Russia, adding pressure on inflation-sensitive sectors.
Expert Insights on Market Movements
“A decisive slide below the said support could open the next downside of around 23,260 and lower in the short term. Immediate resistance is at 23,700,” noted Nagaraj Shetti, a market expert, highlighting the potential for ongoing consolidation.
Global Market Trends
- US Markets: Major indices like the S&P 500 slumped on Friday, erasing gains from earlier in the year. Strong employment data heightened inflation fears, dampening expectations of aggressive Federal Reserve rate cuts.
- Asian Stocks: Following US trends, Asian markets declined, weighed down by robust US employment data.
Key F&O Updates
Stocks under the F&O ban include Manappuram, RBL Bank, Hindustan Copper, LT Finance, and Bandhan Bank. Meanwhile, foreign portfolio investors (FPIs) sold ₹2,254 crore, while domestic institutional investors (DIIs) purchased shares worth ₹3,962 crore.
FII Positions and Oil Market Update
FII net short positions increased to ₹2.77 lakh crore from ₹2.67 lakh crore last week. Strong US employment data and Russian sanctions pushed crude oil prices to four-month highs, further strengthening the dollar against major global currencies.
Investors are advised to monitor these developments closely as markets respond to evolving global and domestic factors.
