Published on: January 31, 2025
Credit card spending in India saw a sharp increase of 60% over the past four months, reaching Rs 17,405.62 in December 2024, driven by a rise in card additions to 108.6 million, marking a 4-month high. Per card spending showed a Year-on-Year (YoY) rise of 3.2% in December 2024 compared to the previous year.
Among leading issuers, HDFC Bank and SBI Card saw slight declines, while ICICI Bank and Axis Bank experienced growth in per card spending. In the electric vehicle sector, Ola Electric unveiled its much-anticipated S1 Gen 3 scooter portfolio, setting new benchmarks in performance and efficiency. Prices for the new range start at Rs 79,999, with the flagship S1 Pro+ priced at Rs 1,69,999.
With a 20% increase in peak power, improved efficiency, and safety features like the dual anti-lock braking system and patented brake-by-wire technology, the Gen 3 scooters are poised to revolutionize the EV market. Additionally, Ola introduced the affordable Gig and S1 Z scooter series aimed at both personal and commercial use, with deliveries slated for 2025.
Published on: January 30, 2025
Gail India Limited has reported a stellar consolidated net profit of Rs 4,081 crore for the third quarter (October-December) of FY25, reflecting a 27.7% year-on-year growth, driven primarily by an exceptional gain of Rs 2,440 crore from an international arbitration settlement. The profit surge was also a 51.5% increase sequentially from the previous quarter.
The arbitration settlement, with a former subsidiary of Russian energy giant Gazprom, resolved pending disputes and involved a payment of $285 million by SEFE Marketing & Trading Singapore Pte Ltd to Gail. This has significantly boosted Gail’s revenue for the quarter, which rose by 6.23% year-on-year to reach Rs 36,937 crore.
Despite a rise in total expenses to Rs 34,876 crore, including a 15.7% increase in stock purchases, the company's robust performance was underpinned by strong operational execution. Gail also reported a capital expenditure (Capex) of Rs 10,100 crore in FY25, focusing on petrochemicals, pipelines, and operational investments, with estimated revenue projections of Rs 8,480 crore for FY26.
Published on: January 30, 2025
The Union Cabinet has approved the creation of the National Critical Minerals Mission (NCMM) with a substantial budgetary outlay of Rs 16,300 crore over the next seven years. This initiative is set to significantly enhance India’s capabilities in critical mineral exploration, with an additional Rs 18,000 crore in expected investments from central public sector undertakings (PSUs).
The mission is aimed at exploring and securing key minerals for India's growing strategic sectors such as clean energy, defense, electronics, and agriculture. Key elements of the NCMM include the allocation of Rs 3,000 crore to the National Mineral Exploration Trust (NMET) and Rs 4,000 crore for the Geological Survey of India (GSI), targeting 1,200 domestic critical mineral exploration projects by 2030-31.
With plans to auction over 100 critical mineral blocks, the mission is expected to boost investor interest and ensure mineral availability from both domestic and foreign sources. Prime Minister Narendra Modi called the mission a “major step towards self-reliance,” highlighting its potential to support India’s high-tech industries.
Additionally, the mission includes an allocation of Rs 5,600 crore to cover risks associated with foreign sourcing and exploration activities outside India, as well as a plan to create four mineral processing parks. The mission is poised to foster international partnerships, with agreements already signed with countries like Argentina, Zambia, and the United States.
It also focuses on expanding mineral recycling efforts, with a dedicated Rs 1,500 crore incentive scheme for recycling critical minerals. This initiative signals India's commitment to strengthening its critical minerals value chain and enhancing its position in the global market.
Published on: January 30, 2025
Vedanta is gearing up to announce its Q3 FY25 results on Friday, January 31, 2025. The mining giant has seen a surge in its share price ahead of the results, rising by 1.62% to hit an intraday high of Rs 437.60. Analysts predict strong performance across key segments, primarily driven by higher commodity prices, particularly in aluminum and zinc.
Q3 FY25 is expected to show a 6-7% increase in EBITDA quarter-on-quarter (Q-o-Q), with notable growth in Vedanta’s aluminum and zinc divisions. Zinc India’s earnings are anticipated to rise by 7.4% Q-o-Q, while aluminum is expected to see a 4.6% increase, aided by stronger LME prices. However, the oil and gas division is projected to face a decline due to lower volumes.
Revenue for the quarter is projected to reach Rs 40,561.7 crore, reflecting a 14.1% year-on-year (Y-o-Y) growth, with EBITDA forecasted at Rs 10,418 crore (up 22.1% Y-o-Y). Profit is expected to see a remarkable 62% Y-o-Y increase to Rs 3,254.1 crore.
Different analysts, including those from Kotak Institutional Equities, Nuvama, and Antique Stock Broking, have forecasted slightly varying figures for the quarter, but they all anticipate solid growth in Vedanta’s core segments, especially in zinc and aluminum. Despite the expected decline in oil and gas earnings, Vedanta's diverse portfolio is set to drive overall strong results for Q3 FY25.
Published on: January 30, 2025
Adani Enterprises' shares fell 5% on Thursday, reaching Rs 2,202 on the BSE after the company reported a staggering 97% year-on-year (YoY) decline in profit for the third quarter ended December 2024. The company posted a profit of just Rs 58 crore, compared to Rs 1,888 crore in the same quarter last year.
Revenue from operations also dipped by 9% YoY to Rs 22,848 crore, while EBITDA dropped 5% YoY to Rs 3,071 crore. Despite these declines, Adani Enterprises saw a 33% rise in other income and a modest 1% increase in revenue on a sequential basis.
In its nine-month results, Adani Enterprises reported a 6% revenue increase and a 17% rise in profit, highlighting strong performance in its infrastructure and energy transition sectors. The company’s various segments, such as Adani New Industries and Adani Airports, saw significant growth, with the latter reporting a 33% increase in income and a 160% surge in profit.
Gautam Adani, Chairman of the Adani Group, emphasized that the company’s focus on innovation, operational excellence, and sustainability continues to drive strong performance in key sectors.
Published on: January 30, 2025
Wipro has secured a multi-million-dollar, five-year contract with Etihad Airways, the national airline of the UAE, to lead its technology modernisation. While financial details were undisclosed, Wipro will oversee the migration of legacy systems and improve operational efficiency in key areas like workplace, network, infrastructure, and service management.
As part of the deal, Wipro FullStride Cloud will provide Etihad Airways with a customized cloud solution that offers real-time insights and enhances operational agility and scalability. The collaboration will also give Etihad access to Wipro's Innovation Lab in the UAE, leveraging generative AI for intelligent device management and proactive performance optimization.
Wipro CEO Vinay Firake emphasized the company’s expertise in digital transformation and AI-powered solutions, aiming to elevate Etihad’s customer experience through innovation, automation, and sustainability. This partnership comes amid Wipro's Q3 deal bookings of $3.5 billion, reflecting a slight decline from the previous quarter.
Published on: January 30, 2025
Bharti Airtel’s Africa business posted an impressive 11-fold year-on-year jump in net profit for Q3 FY25, reaching $169 million. This surge was mainly due to a $94 million exceptional gain triggered by the appreciation of key African currencies and a sharp decline in net finance costs.
Airtel Africa's revenue also rose by 2% to $1.26 billion, driven by strong customer additions and growing data usage amidst rising smartphone penetration. Airtel Africa launched its second share buyback program, offering up to $100 million to shareholders, reflecting the company’s confidence in its future growth potential.
CEO Sunil Taldar highlighted the progress made across markets and business segments, driven by a strong focus on execution and operational speed. The recent stability in currencies and favorable regulatory decisions in Nigeria are expected to further enhance the company’s growth trajectory.
Published on: January 30, 2025
In today’s trade, several stocks witnessed notable movement, with Raymond Lifestyle, Asahi Songwon, Tata Motors, and Balaxi Pharma touching their 52-week lows. Meanwhile, Associated Alcohols & Breweries, Blue Jet Healthcare, Jindal Drilling, SRF, and CarTrade Tech achieved new 52-week highs.
The domestic benchmark indices saw a positive close, with the NSE Nifty rising by 86.41 points to settle at 23,249.50, and the BSE Sensex gaining 226.85 points, closing at 76,759.81.
In the Nifty 50 index, stocks such as BEL, Power Grid, Hero MotoCorp, Bharti Airtel, and Cipla emerged as the top gainers, while Tata Motors, Adani Enterprises, Shriram Finance, Bajaj Finserv, and Adani Ports SEZ were among the top losers of the day.
Published on: January 30, 2025
Larsen & Toubro (L&T) reported a consolidated net profit of Rs 3,359 crore for Q3 FY25, marking a 13.9% year-on-year growth from Rs 2,947 crore in the same period last year. The company’s consolidated revenue rose 17.3% to Rs 64,668 crore, driven by strong performance in its Projects & Manufacturing (P&M) segments.
International revenues accounted for 51% of total revenue, highlighting L&T's expanding global footprint. L&T’s order inflows surged 53% year-on-year, reaching Rs 1,16,036 crore, while its order book reached a record Rs 5,64,223 crore as of December 31, 2024, up 19% from March 2024. For the nine-month period, consolidated revenue grew 18% to Rs 181,342 crore.
Chairman S N Subrahmanyan highlighted the strong growth, with the company forecasting continued momentum in infrastructure, technology, and energy sectors, especially in the Indian and West Asian markets.
Published on: January 30, 2025
Larsen & Toubro (L&T) has secured a significant repeat order from a leading railway company in the Gulf Cooperation Council (GCC) region to build advanced freight handling facilities, valued between Rs 1,000-2,500 crore.
The order involves engineering, procurement, construction, and commissioning (EPCC) of state-of-the-art facilities with automation at two locations. This strengthens L&T’s position as a leader in freight handling and reinforces its reputation in delivering high-quality EPC projects.
In another major development, L&T Technology Services (LTTS) has won an $80 million multi-year digital engineering contract in the sustainability sector from a US-based industrial manufacturer.
The contract will enable the client’s digital transformation through AI-powered insights, business automation, and advanced engineering solutions. This deal highlights L&T Tech's growing presence in the digital engineering space.
Published on: January 30, 2025
A total of 133 companies are slated to announce their Q3 results on Thursday, January 30, 2025, with some of India’s largest and most influential firms releasing their financial statements. Among the key names are Adani Enterprises, Bajaj Finserv, Bank of Baroda, Larsen & Toubro, and Jindal Steel & Power.
Adani Enterprises is expected to continue its impressive profit growth after a 497% surge in the previous quarter. Bank of Baroda is likely to showcase strong growth in its net interest income, while Larsen & Toubro’s revenue growth and profitability will be in focus.
Additionally, Maruti Suzuki and Adani Power posted strong results on January 29, with Maruti reporting a 12.6% rise in net profit and Adani Power’s profits increasing by 7%. Investors will closely watch these earnings to gauge sectoral performance and future market trends.
Published on: January 30, 2025
As Indian stock markets gear up for a flat start on Thursday, January 30, 2025, several stocks are expected to make headlines due to earnings reports, strategic partnerships, and corporate actions. Key companies like Bajaj Finance, Voltas, and Jindal Stainless have reported quarterly results, while others, such as Larsen & Toubro, Adani Enterprises, and Bajaj Finserv, will announce their earnings today.
Notable developments include Sona BLW Precision Forgings' MoU with The ePlane Company to develop eVTOL powertrains, Union Bank of India’s plans to raise Rs 20,000 crore through bonds, and Restaurant Brands Asia’s net loss for the quarter.
Investors should also keep an eye on stocks such as 3i Infotech, Aarti Drugs, and Capital Small Finance Bank, as well as new listings like CLN Energy on BSE SME.
Published on: January 30, 2025
Indian benchmark indices ended higher on Tuesday, buoyed by gains in financial stocks and a 1.4% rise in Reliance Industries. The BSE Sensex rose by 0.30%, closing at 76,759.81, while the Nifty 50 gained 0.37%, ending at 23,249.50.
The financial sector led the charge, with HDFC Bank and Bajaj Finance posting strong gains. However, Tata Motors' 7% decline, following a 22% drop in profits, capped the market's upside.
The market capitalization of all listed companies on the BSE rose by Rs 21,047 crore. Global markets saw mixed movement, and the Indian rupee edged lower against the dollar. Despite FIIs continuing to sell, domestic institutional investors provided support.
Published on: January 30, 2025
Tata Consumer Products has posted a 5% decline in consolidated net profit to ₹299.75 crore for the third quarter of FY25, down from ₹316 crore in the same period last year. However, the company saw a strong 16.8% year-on-year increase in consolidated revenue from operations, reaching ₹4,444 crore compared to ₹3,804 crore in Q3FY24.
The revenue growth was driven by robust performances across key business segments. The India Business experienced a 10% growth, with the coffee segment leading with a 28% increase. Additionally, the India foods business grew by 31% YoY, and the value-added salt portfolio showed a strong 31% growth.
Despite the rise in revenue, Tata Consumer noted that tea cost inflation impacted its operating performance in India. International business revenue grew by 8%, with improved profitability, while Tata Starbucks expanded by adding 16 new stores during the quarter.
The company is seeing continued growth in its Non-Branded Business and International Business, but the increased costs in the India beverages segment have put pressure on overall profitability.
Published on: January 29, 2025
US stocks saw a rebound with tech stocks leading the way, as Nvidia surged by 9% following a sharp drop due to a popular Chinese AI chatbot. The Nasdaq climbed over 2%, while the S&P 500 and Dow saw smaller gains.
Bond yields also softened ahead of the Federal Reserve's interest rate decision. In Asia, markets were mixed as many closed for the Lunar New Year holiday. Meanwhile, Honda announced plans to build an electric two-wheeler plant in India by 2028.
Back home, the Adani Group committed a Rs 2.3 lakh crore investment in Odisha, focusing on sectors like power, cement, and industrial parks. Bajaj Auto met analyst expectations with a 5.7% rise in revenue, while its net profit grew 3%.