Published on: January 27, 2025
India’s leading real estate developer, DLF, announced plans for a $4 billion ultra-luxury project near New Delhi, set to take more than four years to complete. The project, with apartments priced at $8 million each, is attracting both local buyers and Non-Resident Indians (NRIs), who are drawn to the rising demand for high-end homes in India’s wealthier segments.
With 173 of 420 units already sold, the project’s average price per square foot is set at $742, offering a "lake park" and premium amenities like cinemas and on-call chefs. The luxury housing market in India has seen growth, with DLF's sales bookings for 2024 surpassing its annual target, indicating strong demand in the ultra-luxury segment.
Published on: January 27, 2025
NTPC Ltd, India’s largest power generator, reported a net profit of ₹4,711.4 crore for Q3 FY25, marking a 3.1% year-on-year growth, though it fell short of market expectations. The company’s revenue rose 4.8% to ₹41,352.3 crore, while EBITDA surged by 20.3% to ₹11,960.6 crore, with margins improving to 28.9%.
NTPC’s board also approved a second interim dividend of ₹2.5 per share for FY25, with a record date of January 31, 2025, and payment set for February 18, 2025. Operationally, NTPC saw increased power generation and coal production, along with a slight rise in the plant load factor for coal-based plants.
Published on: January 27, 2025
Hindustan Zinc Chairperson Priya Agarwal Hebbar emphasized the need for an estimated USD 1.7 trillion investment in the global mining sector to successfully drive the energy transition. Speaking at the World Economic Forum in Davos, Hebbar highlighted the critical role of minerals in achieving climate action goals and the opportunity for India to capitalize on its underutilized natural resources.
She noted that India, with less than 15% of its natural resources tapped, is well-positioned to lead in the mining sector by utilizing technology and innovation to support clean energy initiatives.
Hebbar commended the Indian government’s proactive measures, such as launching the critical minerals mission and auctioning mineral blocks, which are creating new growth opportunities. She pointed out that both Vedanta and Hindustan Zinc have emerged as key players in securing critical mineral blocks, positioning India as a future leader in sustainable mining.
Published on: January 27, 2025
DLF shares surged 5.2% in Monday’s trade, reaching an intraday high of Rs 731.4 per share, despite reporting mixed results for the third quarter of FY25. By 1:07 PM, the stock was up 1.88% at Rs 708.15 per share, with a market cap of Rs 1.75 lakh crore. The company’s Q3 profit saw a significant 61% year-on-year (YoY) increase, rising to Rs 1,058.73 crore from Rs 655.71 crore last year.
However, the company's revenue from operations showed a marginal growth of 0.5%, increasing to Rs 1,528.7 crore from Rs 1,521.2 crore, while on a sequential basis, both profit and revenue fell by 23% and 22%, respectively. The robust profit growth was mainly driven by DLF’s development and rental businesses, with record new sales bookings of Rs 12,093 crore in Q3FY25.
A major contributor to this was the launch of its ultra-luxury project, ‘The Dahlias,’ which generated Rs 11,816 crore in new bookings during its first quarter. DLF also highlighted that the overwhelming response to the project had already surpassed its annual sales target.
Despite the overall positive performance in its core businesses, DLF’s rental business continues to grow, with ongoing developments in Chennai and Gurugram, totaling 11 million square feet. However, the stock has seen a decline of 11.7% over the past year, compared to a 5.9% rise in the BSE Sensex.
Published on: January 27, 2025
DLF is setting its sights on generating Rs 23,000 crore from the remaining 247 units in its ultra-luxury housing project, 'The Dahlias,' located in Gurugram. Following the strong sales of 173 homes for Rs 11,816 crore, DLF's new super-luxury project, launched in October 2024, has already seen impressive demand.
The project, spanning 17 acres in DLF Phase 5, comprises 420 high-end apartments and penthouses with sizes starting at 10,300 square feet. The project, which marks DLF's second ultra-luxury offering after 'The Camellias,' is expected to bring in an estimated Rs 23,000 crore from the remaining 27 lakh square feet of saleable area. On average, DLF has sold homes at Rs 70 crore per residence, with prices ranging from Rs 64,000 to Rs 1,05,000 per square foot, depending on the area.
DLF CEO Ashok Tyagi highlighted the strong demand for luxury residences, stating that the company's strong sales performance has exceeded expectations. The developer plans to invest Rs 8,000 crore over the next 4-5 years into the project, which has the potential to reach more than Rs 35,000 crore in total revenue due to its staggered sales approach.
This project is part of the growing trend of surging demand for luxury homes in India’s major cities post-pandemic, as high-net-worth individuals seek larger, branded properties. DLF reported a 61% increase in consolidated profit to Rs 1,058 crore for the quarter ending December, with sales bookings from 'The Dahlias' reaching an all-time high of Rs 12,093 crore.
The company's market presence remains strong with a portfolio of over 185 projects and 220 million square feet of development potential across residential and commercial segments.
Published on: January 27, 2025
JSW Steel’s stock dropped more than 3.5% in Monday’s trading session after the company reported a sharp decline of over 70% in its consolidated net profit for the December quarter, which fell to ₹719 crore, down from ₹2,450 crore in the same quarter last year. The drop in profit was primarily attributed to rising expenses, which increased to ₹40,250 crore compared to ₹38,815 crore in the previous year.
Despite a slight decline in total income, which fell to ₹41,525 crore from ₹42,134 crore, the company’s revenue from operations remained strong at ₹41,378 crore. Operating EBITDA for the quarter stood at ₹5,579 crore, while JSW Steel’s capital expenditure for the third quarter amounted to ₹3,087 crore.
The company’s strategy to boost its iron ore captive share and improve coal linkages is expected to support its long-term earnings. A technical analysis indicated potential reversal signs in the stock price, suggesting it could rise to levels around ₹940-950, although analysts advise caution and recommend a strict stop-loss at ₹895.
Despite the near-term challenges, analysts remain optimistic about the company’s future, projecting growth driven by strong demand and capacity expansion. The brokerage has set a target price of ₹1,100 for the stock, although it has lowered near-term earnings estimates due to a weak demand environment.
Published on: January 27, 2025
Godrej Enterprises Group (GEG) announced on Monday that it will invest more than Rs 1,200 crore over the next three to five years in new digital solutions and technology platforms. The investment will focus on enhancing digital platforms, artificial intelligence (AI), and generative AI technologies across various business units, including its aerospace, defence, furniture, and IT sectors.
With a consumer base of over 1.1 billion, the group aims to redefine customer interactions by creating a customer-first ecosystem, providing a unified experience that fosters deeper relationships with stakeholders. Nyrika Holkar, Executive Director of Godrej Enterprises Group, emphasized the company’s vision to revolutionize customer experience with advanced digital and AI tools.
In addition to the tech investments, GEG is committed to upskilling its workforce, planning over 600,000 hours of training in areas like sales, marketing, HR, and IT to ensure employees stay relevant in the digital era. The group is also expanding its e-commerce presence to cater to digitally-savvy consumers and refining post-purchase services.
Vijay Balakrishnan, Chief Digital & Information Officer at GEG, highlighted that these efforts are part of a broader digital transformation journey to enhance organizational capabilities and drive growth in the digital age.
Published on: January 27, 2025
Bajaj Housing Finance shares fell 3.9% on Monday, hitting an intraday low of Rs 104.8 per share, as selling pressure mounted ahead of the company's upcoming third-quarter (Q3) results. Currently trading more than 51% higher than its issue price of Rs 70, the stock is still 29% below its listing price of Rs 150.
At 11:46 AM, shares were down 2.98% at Rs 105.9 per share on the BSE, while the broader market, represented by the Sensex, dropped 0.94%. The company had announced earlier that its Board of Directors would meet on January 27, 2025, to consider and approve the unaudited standalone financial results for the quarter and nine months ending December 31, 2024.
In its previous quarterly earnings, Bajaj Housing Finance reported a 21% year-on-year growth in net profit for Q2FY25, rising to Rs 546 crore from Rs 451 crore in Q2FY24. The company also saw an 18% increase in total income, amounting to Rs 897 crore, although its net interest margin (NIM) fell slightly to 4.1% from 4.4% in the previous year. Investors are now keenly awaiting the Q3 update to assess the company’s financial health and future outlook.
Published on: January 27, 2025
As the Nifty heads towards the end of a fourth consecutive month of losses, market strategists are focusing on potential recovery scenarios, especially with the Union Budget approaching. Despite a 2% negative return in January, experts suggest a cautious optimism for February, highlighting historical trends where negative returns in the run-up to the Budget are often followed by a post-Budget rally.
Anand James, Chief Market Strategist at Geojit Financial Services, points to the Nifty's consolidation and expects the index to reach 23,850-23,950 if there is a positive surprise in the Budget. On the flip side, a rejection from 23,400 could see a decline to 22,260. Wipro has shown strong bullish continuation patterns, and with the right technical signals in place, analysts believe the stock could rally towards Rs 335-360 in the next two weeks. The stock's uptrend, fueled by a favorable earnings backdrop, sets it apart from other slow movers in the market.
In contrast, India Cements saw a 22% drop during the week, but technical indicators suggest potential for a rebound to the 314-325 range in the near term. Looking ahead, market analysts are eyeing stocks like Jubilant Green, with a buy recommendation targeting 725-745, and an emphasis on protecting gains with stop-loss levels in place. The upcoming Budget week could be pivotal for the broader market's direction, with midcap and smallcap stocks facing volatility, especially with Q3 earnings results still rolling in.
Published on: January 27, 2025
Larsen & Toubro (L&T) has been chosen by Masdar, in partnership with EWEC (Emirates Water and Electricity Company), as one of the preferred Engineering, Procurement, and Construction (EPC) contractors for the world’s first 24/7 solar photovoltaic (PV) and battery energy storage system (BESS) gigascale project in Abu Dhabi.
The project, announced during the Abu Dhabi Sustainability Week, will be capable of delivering up to 1 gigawatt (GW) of baseload power around the clock, making it the largest solar and BESS project globally. The initiative includes a 5.2GW solar PV plant, combined with a 19 gigawatt-hour BESS. It will be divided into a north and south site, each featuring 2.6GW PV capacity and 9.5GWh of BESS.
This project marks a major step in clean energy innovation, aimed at overcoming the intermittency challenges of renewable energy sources. L&T’s involvement highlights its growing leadership in the global energy transition, with a focus on advanced renewable generation, power transmission and distribution, and digital solutions. The UAE’s vision for sustainable economic progress and the leadership role of Masdar in clean energy innovation were emphasized by both the company’s leadership teams in their statements.
Published on: January 27, 2025
Shares of microfinance lender CreditAccess Grameen plunged 18% in early trade on January 27, following a disappointing third-quarter performance for FY25. The company reported a net loss of ₹99.5 crore, a stark contrast to a net profit of ₹353.4 crore in the same quarter last year. Despite a 6.4% YoY increase in net interest income (NII) to ₹905.5 crore, the company faced a significant contraction in growth, lower margins due to interest reversals, and an accelerated provision for asset quality concerns.
The sharp decline in CreditAccess Grameen's stock led to a broader sell-off in microfinance lender stocks. Companies like Spandana Sphoorty Financial, Fusion Finance, Muthoot Microfin, and Equitas Small Finance Bank saw their shares drop by up to 8%. Emkay Global has warned that the microfinance sector will face continued pressure for the next 2-3 quarters as stress on balance sheets persists.
Despite the challenges, CreditAccess Grameen anticipates a slight recovery in growth during Q4FY25 due to seasonally stronger performance and expects normalization to begin in Q2FY26. However, analysts remain cautious, with Motilal Oswal predicting a bumpy ride ahead due to ongoing credit cost pressures and loan growth calibration. Nomura, on the other hand, reiterated a "reduce" call, citing concerns over elevated delinquency rates and stress in key states.
Published on: January 27, 2025
Non-bank lender Piramal Enterprises Ltd (PEL) reported a return to profitability for the third quarter ended December 31, 2024, with a net profit of ₹38.6 crore, marking a significant recovery from a net loss of ₹2,377.6 crore in the same period last year. However, the company’s revenue from operations declined slightly by 1.1% to ₹2,448.6 crore compared to ₹2,475.6 crore in Q3 FY24.
At the operating level, EBITDA fell 10.8% to ₹1,074.7 crore, and the EBITDA margin decreased to 43.9% from 48.7% a year ago. Despite these challenges, Piramal Enterprises showed notable growth in its total assets under management (AUM), which grew 16% YoY to ₹78,362 crore. The company’s retail AUM saw a 37% increase, while its Wholesale 2.0 AUM surged 60%.
Piramal also reported significant improvements in operational efficiency, with its operating expense-to-AUM ratio declining by 200 basis points. Furthermore, the company expects continued recoveries in its alternative investment funds (AIF), projecting a boost to its financial position in the coming quarters.
Despite these positive signs, shares of Piramal Enterprises ended the trading day down 7.66% at ₹915.50 on the BSE, reflecting investor caution.
Published on: January 27, 2025
Indian stock markets ended lower for the fourth consecutive session on Monday, with the Nifty hitting a seven-month low amid continued broad-based selling. The Sensex dropped by 824 points to 75,366, while the Nifty fell 263 points, closing at 22,829, marking its lowest level since June 2024. Investor sentiment remained subdued, weighed down by disappointing earnings and growing macroeconomic concerns.
The broader market saw significant weakness, with the Midcap index falling 1,467 points and the Nifty Bank index slipping 303 points. All sectoral indices closed in the red, with PSU, Pharma, and IT stocks leading the losses. The IT index lost 3%, with companies like HCL Technologies, Tech Mahindra, and Wipro among the top Nifty losers.
Pharma stocks also struggled, as Laurus Labs dropped 13% amid concerns over its ARV business. In contrast, FMCG stocks showed resilience, with Hindustan Unilever and Britannia gaining over 1%. ICICI Bank emerged as a rare gainer, rising after reporting a strong profit of ₹11,792.4 crore, surpassing analyst expectations.
However, stocks like Canara Bank and Indian Oil weighed on the market, falling 6% and 3% respectively due to disappointing earnings. ACC also declined by 3%, despite reporting strong results for the quarter. The ongoing weakness in the markets reflects a challenging environment for investors.
Published on: January 27, 2025
The Sensex and Nifty indices plunged sharply in the January series expiry week, impacted by a combination of weak global cues, disappointing Q3 earnings, U.S. trade policy uncertainties, and continued foreign portfolio investor (FPI) outflows. The Sensex closed down 824 points (1%) at 75,366, while the Nifty fell 275 points (1.2%) to 22,817, marking a drop below 22,800 for the first time since June 2024.
Broader markets were hit harder, with midcap and smallcap indices plummeting by 2-4%, erasing over Rs 9 lakh crore of investor wealth. All 13 sectoral indices closed in the red, with energy, IT, metal, and pharma stocks among the hardest hit. The India VIX, a gauge of market volatility, surged over 8%, reflecting investor nerves as uncertainty looms around the Union Budget on February 1 and the U.S. Federal Reserve’s upcoming rate decision.
Experts warn of continued downside in the near to medium term, with short-term supports at levels like 23,000 expected to fail. The market’s volatility is compounded by ongoing global and domestic issues, including fears of a slowdown in GDP growth, rising inflation, and heightened geopolitical risks, particularly in U.S.-India relations under the Trump administration.
Shares of Laurus Labs and CDSL fell sharply due to concerns over U.S. policy changes, while ICICI Bank managed to buck the trend with a 1% gain following strong quarterly results. The broader market remains cautious, with foreign outflows continuing to weigh heavily on the Indian equity market.
Published on: January 27, 2025
Shares of several high-profile companies from the BSE 100 and BSE 200 indices, including Tata Motors, IndusInd Bank, Axis Bank, Jio Financial Services, and MRF, hit their respective 52-week lows in Monday's intra-day trading. This slump is primarily attributed to sustained foreign portfolio investor (FPI) selling, which has reached Rs 69,000 crore in January alone, despite the offsetting effect of Rs 67,000 crore in domestic institutional investor (DII) buying.
Indian benchmark indices, BSE Sensex and Nifty50, also traded lower due to mixed global and domestic cues, as uncertainty surrounding the new US administration and its economic policies weighs on investor sentiment. IndusInd Bank’s stock dropped by 3%, reflecting concerns over its exposure to microfinance institutions and vehicle finance segments, which have faced rising defaults and weaker demand.
Axis Bank's stock slid 1.5%, following the bank’s poor Q3FY25 results that showed a sharp rise in slippages and a slowdown in growth. Meanwhile, Jio Financial Services saw a significant 17% drop over the past six days, hitting a new low of Rs 233, as its quarterly profit remained flat and net interest income showed a decline.
Analysts remain cautious on these stocks amid weak financials, rising credit costs, and regulatory hurdles, with long-term prospects facing challenges due to market volatility and operational uncertainties.