Market Morning Notes For 30th January 2025

Market Commentary

Global markets – US indices ended red on Wednesday as Federal Reserve held its interest rate unchanged. Dow slipped by 0.3 pct while Nasdaq fell by 0.5 pct.

Commodities – Gold prices held around USD 2,759 as investors evaluating Fed policy outlook. On the other hand, oil prices fell and stood at USD 77.53/bbl due to rise in US crude stockpiles.

Asian markets – Most of the Asian markets remained closed. While Nikkei trading green by 0.2 pct as chip related share gain on Advantest’s forecast.

Indian Indices – India’s equity benchmarks are likely to open flat as Gift Nifty indicates however volatility expected to be seen on expiry of January F&O series. Benchmark Indices jumped on Wednesday as information technology stocks tracked a rebound in global peers.

Results Today – LT, Bajaj Finserv, BEL, Tata Consumer, Waaree Energies, Navin Fluorine

  Stocks to watch

Positive Read through

• Solar Ind – CCS clears army’s Rs. 100 bn Pinaka rocket deal, as per reports.
• SRF – Posted Q3 above street estimate, chemical business margin expanded 120 bps YoY.
• Samhi Hotels – EBITDA jumped 29.8 pct, margin at 37.3 pct vs 31.7 pct YoY.
• Azad Engg – 6-year contract with Siemens Energy worth Rs. 8.11 bn for supply of components.
• ASK Auto – EBITDA grew 38.1 pct, margin at 12.1 pct vs 10.5 pct YoY.
• Bajaj Fin – Reported Q3 above estimate, sees 22-23 pct Profit growth, 25 pct AUM growth in FY26.
• Infosys – Expands collaboration with Siemens AG for generative AI.
• Afcons Infra – Gets LoA for a project worth Rs. 12.83 bn from Hind Gateway Container Terminal.
• Blue Star – Sales & profit came in-line, margin above poll estimates.
• Hitachi Energy – Sales grew 27.2 pct, margin at 10.3 pct vs 5.3 pct YoY.
• GR Infra – Emerges as the lowest bidder for a Western Railway project worth Rs. 2.62 bn.
• Chalet Hotels – EBITDA up 23.3 pct, Sales rose 22.5 pct YoY.
• Sona BLW – MoU with ePlane to develop powertrain for eVTOLs & drones.
• Brigade Ent – Q3 real estate collections jumped 36 pct, sales up 63 pct YoY.

Negative Read through

• Tata Motors – Q3 margin misses estimates, demand concerns remain in China & Europe.
• Whirlpool – Parent Whirlpool Corp to bring stake down further to 20 pct by mid or end-2025.
• Maruti – Demand trends remain subdued, lower-end vehicle continues to underperform.
• Aarti Drugs – EBITDA down 11.8 pct, Sales falls 8.1 pct YoY.
• Jindal Stainless – EBITDA fell 3.1 pct, margin at 12.2 pct vs 13.7 pct YoY.
• eClerx – EBITDA flat, margin at 24.3 pct vs 27.5 pct YoY.
• Voltas – Q3 misses estimate, UCP segment margin down 240 bps YoY.
• Restaurant Brands – Losses expand, margin at 10.9 pct vs 11.3 pct YoY.
• JK Paper – EBITDA tumbled 40 pct, margin at 15.5 pct vs 25.1 pct YoY.

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