Hugely Volatile Session Ends with a Large Loss: Tuesday’s Market Report
Moneylife Digital Team 21 January 2025
On Tuesday, 1187 stocks advanced, 2788 declined and 113 remained unchanged, with an advance decline ratio of 0.43x on the Bombay Stock Exchange (BSE), indicating positive closing of stocks in broader markets. The market suffered from massive intraday volatility going up and down 300 points a multiple times, each time within minutes.
 
Foreign Institutional Investors (FIIs) offloaded equities worth Rs4,337 crore on Monday, contributing to over Rs50,000 crore in outflows so far in January. Negative sentiment in the Indian market was fueled by Donald Trump’s comments targeting BRICS nations, where he reiterated plans to impose 100% tariffs on countries reducing their reliance on the US dollar in global trade. Global markets also remain cautious ahead of the Bank of Japan’s (BOJ) upcoming decision on Friday, as expectations of an interest rate hike could affect borrowing costs worldwide. The trend of the major indices on Tuesday’s trading is given in the table below. 
 
 
On NSE, 26 securities advanced and closed at a new 52-week high whereas 58 securities sank to close at their new 52-week lows.  In sectoral indices, all sector ended in red with - Nifty Energy, Nifty PSU Bank and Nifty Auto were among the biggest losers
 
Bondada Engineering (-1.04%) received a work order from M/s. KPI Green Energy for BOS items supply & services for EPCC works at Vagra, Amod and Rajkot locations. The broad consideration or size of the order is Rs88.49 crore.
 
Ram Ratna Wires (-3.20%) was selected in the third round of PLI Scheme for white goods. It has committed an investment of around Rs253 crore under PLI scheme for manufacturing of copper tube (plain and/or grooved) and aluminum stock for foils or fins for heat exchangers. 
 
PG Electroplast’s (-5.95%) step-down subsidiary -- Next Generation Manufacturers received approval from Government of India under the Production Linked Incentive (PLI) Scheme for third round of white goods under the air conditioner components category. It will be investing Rs121.35 crore over a period of five years.
 
63 Moons Technologies(-4.85%) completed the sale of Open Dealer Integrated Network (ODIN), Order Management System (OMS) (ODIN Business Undertaking) to Synapsewave Innovations (Synapsewave), on slump sale basis. 
 
Easy Trip Planners (EaseMyTrip) (-2.00%) signed a memorandum of understanding (MoU) with the Penang Convention & Exhibition Bureau (PCEB) to enhance Penang’s presence in the Indian market. This strategic partnership is set to improve how Indian travellers experience Penang by leveraging EaseMyTrip’s market expertise and digital reach.
 
Hatsun Agro Product (HAP) (-0.72%) received approval from Board of Directors for acquisition of 100% of the issued and paid-up share capital of the Milk Mantra Dairy in compliance with the provisions of the companies Act, 2013. SEBI Regulations and other statutory requirements as may be applicable.
 
Strides Pharma Science’s (-6.57%) step-down wholly owned subsidiary -- Strides Pharma Global, Singapore, received approval for Acetaminophen and Ibuprofen Tablets, 125 mg /250 mg (OTC), from the United States Food & Drug Administration (USFDA). The product is bioequivalent to the reference listed drug (RLD), Advil Dual Action with Acetaminophen, 125 mg /250 mg (OTC), of Haleon US Holdings LLC.
 
Krystal Integrated Services (-4.16%) received approval for incorporation of a wholly owned subsidiary in India. The proposed wholly owned subsidiary will be incorporated in India to carry on in India or elsewhere the business to provide, commercialize, control, develop, establish, handle, operate, hold, pack, organise, promote, service, supervise, represent and to act as agent, concessionaires, consultants, booking agents or deal in all types of services in home cleaning solutions, cleaning building interiors, windows, carpets, and upholstery.
 
Earnings
Sunteck Realty (+0.18%) reported net profit at Rs42.52 crore for the quarter ended 31 December 2024 as compared to net loss of Rs9.73 crore for the same quarter in the previous year. Total income of the company reported over 2- fold jump at Rs174.77 crore for Q3FY25 as compared to Rs60.99 crore for the corresponding quarter previous year.
 
Dixon Technologies (India) (-13.79%) reported over 2-fold jump in its net profit at Rs216.23 crore for the quarter ended 31 December 2024 as compared to Rs97.07 crore for the same quarter in the previous year. Total income of the company reported over 2-fold jump at Rs10,460.18 crore for Q3FY25 as compared to Rs4820.57 crore for the corresponding quarter previous year.
 
L&T Finance (+1.11%) reported 2.15% fall in its net profit at Rs625.65 crore for the quarter ended 31 December 2024 as compared to Rs639.37 crore for the same quarter in the previous year. However, total income of the company increased by 14.63% at Rs4105.13 crore for Q3FY25 as compared to Rs3581.26 crore for the corresponding quarter previous year.
 
IDBI Bank (-4.02%) reported 30.27% rise in its net profit at Rs1,929.09 crore for the quarter ended 31 December 2024 as compared to Rs1,480.81 crore for the same quarter in the previous year. Total income of the bank increased by 13.84% at Rs8,628.99 crore for Q3FY25 as compared to Rs7,579.91 crore for the corresponding quarter previous year.
 
Zomato (-10.51%) reported 57.25% fall in its net profit at Rs59 crore for the quarter ended 31 December 2024 as compared to Rs138 crore for the same quarter in the previous year. However, total income of the company increased by 61.31% at Rs5,657 crore for Q3FY25 as compared to Rs3,507 crore for the corresponding quarter previous year.
 
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
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