Analysis Financial News

overnight variable rate repo (VRR) auction in addition to a pre-announced buyback as liquidity deficit persisted in the banking system. On Thursday, RBI injected more than ₹1.45 lakh crore via two overnight variable rate repo (VRR) auctions and a buyback operation of ₹9,666 crore. The RBI will conduct a similar VRR auction on Friday for ₹2 lakh crore, along with a 14- day auction for ₹1.75 lakh crore, maturing on February 7.

Tata Consultancy Services (TCS) and Infosys stand poised to benefit from the weakening rupee, while Bharti Airtel and ANI Technologies, Ola's parent firm, face challenges as their dollar-denominated debts rise in cost. A Moody’s report highlighted the divergent fortunes of Indian corporates amid the rupee’s sustained decline. As the rupee continues its downward slide, losing over 20% against the U.S. dollar since 2020, TCS and Infosys, both rated “Baa1 stable" by the ratings agency Moody’s, are well-positioned to capitalize on the currency depreciation. Their revenues are largely denominated in dollars, while costs are incurred in multiple currencies, including the rupee, giving them a natural advantage as the rupee weakens, Moody’s said.

Nifty index on Thursday displayed follow-up buying after the previous session's bounce from lower levels but struggled to sustain higher levels. This pattern suggests that selling pressure persists at elevated levels, reflecting a lack of conviction among buyers. A breakdown below the immediate and crucial support at 23,000 could intensify selling pressure, potentially dragging the index toward the 22,800–22,500 range. On the upside, immediate resistance is observed at 23,300, followed by a critical hurdle near 23,500. A sustained close above these resistance levels is crucial to negate the prevailing bearish sentiment and confirm a bullish reversal, said Hardik Matalia of Choice Broking.

UltraTech Cement posted a lower-than-expected drop in profit for the December quarter, with the consolidated bottomline of Rs 1,470 crore down 17% on year, as against an expected drop of 20-30%. The country’s largest producer of cement announced earnings during market hours, and its shares surged to end nearly 7% higher at Rs 11,420.90 rupees on the NSE. While shares of Kesoram Industries ended 6.5% higher at 218.63 rupees, those of India Cements, a subsidiary of the company, ended in the red.

The weak results late on Wednesday came after Adidas reported strong sales and profitability, highlighting the work Puma still faces to boost its brand and take a bigger slice of the $400 billion global sportswear market.

On the BSE, Navoday Enterprises(down 15.44 per cent), SRG Housing Fin(down 13.03 per cent), Systematix Sec(down 12.18 per cent), Auto Corp Goa (down 11.10 per cent) and Puravankara (down 9.70 per cent) stood among the top losers in today's trade.

These high-performing stocks that rallied more than 10% during the session included, Go Digit General Ins(14.29%), Jagsonpal Pharm(11.97%), Cigniti Tech(11.80%), Zensar Tech(11.65%), Coforge(11.32%), Omni Axs Software (11.29%), Polymech Mac(11.00%) and Persistent System(10.56%).

GE Vernova T&D India Ltd.(up 3.66%), Karma Energy Ltd.(up 3.25%), SJVN Ltd.(up 2.65%), Torrent Power Ltd.(up 2.47%), CESC Ltd.(up 1.87%), Ravindra Energy Ltd.(up 1.79%), Indo Tech Transformers Ltd.(up 1.42%), Tata Power Company Ltd.(up 1.09%), NHPC Ltd.(up 0.91%) and Energy Development Company Ltd.(up 0.81%) stood among the top gainers.

Shares of Phoenix Mills Ltd.(up 4.81 per cent), Oberoi Realty Ltd.(up 3.34 per cent), Prestige Estates Projects Ltd.(up 1.77 per cent), Macrotech Developers Ltd.(up 0.48 per cent) and DLF Ltd.(up 0.18 per cent) ended the day as top gainers in the pack.

Benchmark NSE Nifty closed 50.0 points up at 23205.35 amid buying in frontline bluechip counters.

Shares of Coforge Ltd.(up 11.77 per cent), Persistent Systems Ltd.(up 10.64 per cent), MphasiS Ltd.(up 3.92 per cent), Wipro Ltd.(up 2.79 per cent) and LTIMindtree Ltd.(up 2.61 per cent) ended the day as top gainers in the pack.

stocks rallied as much as 15% in Mumbai trading on Thursday even as equity benchmarks, BSE Sensex and NSE Nifty, traded in the amid brisk in frontline bluechip counters. Stocks that surged in excess of 15% included, Fervent Syn(19.96%) and Tirupati Sarjan(15.05%).

Shares of Punjab National Bank(up 1.26 per cent), IDFC First Bank Ltd.(up 0.47 per cent), Bank of Baroda(up 0.35 per cent), Federal Bank Ltd.(up 0.35 per cent) and Canara Bank(up 0.34 per cent) ended the day as top gainers in the pack.

Shares of Mankind Pharma Ltd.(up 4.72 per cent), Aurobindo Pharma Ltd.(up 4.45 per cent), Torrent Pharmaceuticals Ltd.(up 3.06 per cent), Natco Pharma Ltd.(up 3.04 per cent) and Laurus Labs Ltd.(up 2.51 per cent) ended the day as top gainers in the pack.

Coromandel International Ltd.(up 4.06%), The Fertilisers and Chemicals Travancore Ltd.(up 3.06%), Rama Phosphates Ltd.(up 2.62%), Chambal Fertilisers & Chemicals Ltd.(up 2.37%), Gujarat Narmada Valley Fertilizers & Chemicals Ltd.(up 2.13%), Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 1.95%), Rashtriya Chemicals & Fertilizers Ltd.(up 1.93%), Khaitan Chemicals & Fertilizers Ltd.(up 1.74%), Southern Petrochemicals Industries Corporation Ltd.(up 1.67%) and Aries Agro Ltd.(up 1.66%) stood among the top gainers.

Infra.Market has secured Rs 1,050 crore in its pre-IPO funding round as it is gearing up for a public listing later in the year, according to a regulatory filing with the Registrar of Companies (RoC). With this funding round, the company's estimated valuation has reached Rs 24,147 crore. The round witnessed participation from several prominent investors, including Tiger Global, Evolvence, Foundamental GmbH, Ashish Kacholia, Nikhil Kamath, Abhijit Pai, Sumeet Kanwar, Nuvama and CapriGlobal.

Within just 48 hours of its introduction, the TRUMP memecoin achieved a market capitalization of approximately $12 billion, placing it among the top 30 cryptocurrencies globally. Extraordinarily, the Trump coin is now the second largest memecoin, only second to the pioneering memecoin Dogecoin (DOGE). The launch of TRUMP also had a significant impact on Bitcoin price and other altcoins prices, with liquidity shifting from major altcoins into the newly listed token. Since his tweet announcing the launch, the coin has rallied from $1.62 to a high of $75.53 in one day. This represents a staggering growth of approximately 4,562.35% in a single day. To put this rapid growth into perspective, Dogecoin took eight years to surpass a $10 billion market capitalization, whereas the TRUMP token achieved a similar milestone the day after the launch was announced. A Paradigm Shift and Its Ripple Effect on Crypto

shares were flat on Thursday, hovering below a record high touched in the previous session, as a drop in technology shares offset gains in telecom and utilities, while investors assessed a mixed set of corporate earnings. The pan-European STOXX 600 was little changed as of 0825 GMT. The benchmark hit an all-time intraday high on Wednesday.

promotions in a slowing car market. Hyundai, which together with affiliate Kia is the world's third-biggest automaker by sales, reported operating profit of 2.8 trillion won ($1.95 billion) for October-December, compared with 3.4 trillion won in the same period a year earlier.

Indian Renewable Energy Development Agency (IREDA) on Thursday said that its board of directors, in its meeting on January 23, has approved fundraising of up to Rs 5,000 crore in a fresh equity share issue through a Qualified Institutional Placement (QIP). The company disclosed this development in an exchange filing. IREDA shares were trading 1.5% lower at Rs 197.20 on the BSE following the announcement. The stock has seen significant fluctuations, declining nearly 27% over the past six months but gaining over 32% in the last 12 months.

Wipro surged 5% on Thursday to Rs 324.55 on the BSE, buoyed by sustained optimism following strong third-quarter earnings from the IT services giant. Broader enthusiasm for Indian IT stocks, which tracked a global tech rally driven by the U.S.'s $500 billion AI investment push, fueled a 2% rise in the Nifty IT index, further lifting sentiment. Wipro reported a 24% year-on-year growth in consolidated net profit for the quarter ended December 31, 2024, reaching Rs 3,354 crore. Revenue from operations rose marginally by 0.5% to Rs 22,319 crore during the December quarter. Sequentially, profit after tax (PAT) increased by nearly 5%, while revenue edged up 0.1% in Q3FY25.