The stocks market is likely to begin the day on a rather soft note on Thursday, January 9. GIFT NIFTY futures were trading at 23,716.50, down 7 points or 0.03% as of 8:03 AM. This will bring about a probable 79-point decline in the NIFTY50 index.
Global Market Sentiment
Asian equities had an opening lower on continued sell pressure. DXY remained in range. Oil weakened. The US 10-year Treasury yield continued its decline touching a low for the April-2024 expiry of 4.73 percent and was valued at 4.6749%. US stock markets were broadly subdued overnight given the mixed results from the Jobs report and developments in Washington saying that it is deciding whether to claim a national economic emergency over raging inflation.
Stocks to Watch Today
Tata Consultancy Services (TCS)
IT major will report Q3 FY25 numbers today. The expectations are that the numbers are going to be muted, and furlough and currency headwinds are likely to weigh in on the earnings. Investors would look for commentary from management on growth prospects, deal updates, and developments in the BFSI space.
Tata Motors
JLR: Jaguar Land Rover’s wholesale volume rose in Q3 FY25. However, in Q2 it was hampered by the supply chain. Retail sales remained at 106,334 units, down 3% on the same period last year but up 3% on Q2 FY25.
PN Gadgil Jewellers
PN Gadgil Jewellers has observed a 24% year-on-year growth during Q3 FY25. The drivers are festive demand due to Dussehra, Diwali, and the wedding season.
Hindalco Industries
Hindalco’s subsidiary Novelis expects adjusted EBITDA in the range of $360 million to $370 million. This is significantly lower compared with $454 million a year ago.
Brigade Enterprises
The realty firm invested ₹4,500 crore for a 10-acre integrated housing and commercial project in Hyderabad due to strong demand for luxury homes and premium office spaces.
ACME Solar Holdings
The company ordered another 90 MW of solar projects in Rajasthan, which brought the total rated capacity to 300 MW for each plant.
Lupin
The pharma major received an Establishment Inspection Report (EIR) from the U.S. FDA for its Pithampur Unit-1 facility, classified under Voluntary Action Indicated (VAI).
Advait Infratech Limited
The company received a Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Ltd to develop a 50 MW/500 MWh project as a part of its larger 500 MW/1000 MWh standalone battery energy storage system program.
Manappuram Finance
The RBI rescinded supervisory restrictions on the subsidiaries of Manappuram Finance, namely Asirvad Micro Finance Ltd and DMI Finance because they were well within regulatory stipulations.
Earnings to Watch
Besides TCS, Tata Elxsi, Indian Renewable Energy Development Agency (IREDA), and Vivo Bio Tech are to announce their Q3 FY25 results today.
Market Outlook
Investors will stay cautious in the face of global uncertainty and corporate earnings domestically. The focus will remain on key sectors such as IT, auto, and real estate, especially as they enter new market scenarios.
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