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Adani Energy Solutions Ltd (AESL) closed the third quarter of FY25 with a sparkling performance, posting a 73% leap in consolidated net profit at ₹562 crore, up from ₹325 crore in the same period last year. The magic formula? A hefty tax reversal of ₹66 crore and slashed fuel costs—down to zero from ₹281 crore a year ago. Revenue from operations surged 28% year-on-year to ₹5,830.3 crore, while total income touched ₹6,000.39 crore, riding high on robust project wins and operational efficiencies. AESL’s CEO, Kandarp Patel, hailed the quarter as a testament to the company’s growth streak, emphasizing its expanding market share and dominance as India’s largest private transmission player. Among the headline wins was the Rajasthan Phase III Part-I HVDC project—a mammoth ₹25,000 crore venture that stands as the largest in AESL’s history. Together with the Khavda Phase IV project, these additions have catapulted the company’s under-construction pipeline to an eye-popping ₹54,761 crore, a significant jump from ₹17,000 crore earlier this fiscal year. Operationally, the transmission segment remains a star performer, boasting a 92% EBITDA margin and adding 225 circuit kilometers this quarter, raising the total to 25,778 CKM. Meanwhile, the Mumbai distribution business added more consumers, now reaching 3.17 million, thanks to reliable and affordable power. The capex for the first nine months of FY25 stands at ₹7,475 crore, underscoring AESL’s ambitious growth plans.

In the world of European rates, the action is heating up. Traders are making bold options bets on the European Central Bank delivering at least a half-point rate cut by mid-2025. Three-month Euribor options expiring in June are in focus. According to Bloomberg data, volumes reached nearly 600,000 contracts on Wednesday, with open positions surging 75% to hit almost 2 million contracts. The stakes are massive. One standout wager could yield a €11 million payout—25 times the initial outlay—if the ECB slashes its deposit rate by 125 basis points across the next four policy meetings. This would require at least one half-point cut, a scenario that, not long ago, seemed more like a forecast than a gamble. ECB policymakers, speaking at the World Economic Forum in Davos, Switzerland, hinted at their intention to keep trimming rates as inflation edges toward the 2% mark. Markets are already pricing in a quarter-point cut at the upcoming January 30 meeting, with three more reductions anticipated by June. That’s not all—swaps suggest the ECB could deliver a total of four cuts by year-end. With markets evenly split on whether the Fed will cut rates once or twice in 2025, the outlook remains murky. ING strategists, however, see room for greater Fed easing, a dynamic that could pressure the ECB to go even further.

In the world of European rates, the action is heating up. Traders are making bold options bets on the European Central Bank delivering at least a half-point rate cut by mid-2025. Three-month Euribor options expiring in June are in focus. According to Bloomberg data, volumes reached nearly 600,000 contracts on Wednesday, with open positions surging 75% to hit almost 2 million contracts. The stakes are massive. One standout wager could yield a €11 million payout—25 times the initial outlay—if the ECB slashes its deposit rate by 125 basis points across the next four policy meetings. This would require at least one half-point cut, a scenario that, not long ago, seemed more like a forecast than a gamble. ECB policymakers, speaking at the World Economic Forum in Davos, Switzerland, hinted at their intention to keep trimming rates as inflation edges toward the 2% mark. Markets are already pricing in a quarter-point cut at the upcoming January 30 meeting, with three more reductions anticipated by June. That’s not all—swaps suggest the ECB could deliver a total of four cuts by year-end. With markets evenly split on whether the Fed will cut rates once or twice in 2025, the outlook remains murky. ING strategists, however, see room for greater Fed easing, a dynamic that could pressure the ECB to go even further.

Strides Pharma Science lit up the charts on Thursday, with its share price surging over 9% after the company announced that OneSource Specialty Pharma Ltd. received final listing and trading approval. The stock climbed to ₹637.25 on the BSE, a jump of 9.55%, as investors cheered the development. Starting January 24, OneSource will make its debut on both the NSE and BSE, marking a significant milestone in Strides Pharma’s restructuring journey. The spotlight is on Strides’ decision to demerge its Contract Development and Manufacturing Organization (CDMO) business into OneSource, a move approved by the National Company Law Tribunal (NCLT) in 2024. This demerger, part of a broader strategy to unlock value, included separating the oral soft gelatin business and rebranding the CDMO unit as OneSource. Shareholders of Strides benefitted from the arrangement, receiving one equity share in OneSource for every two held in Strides, with the record date for this allocation set at December 6, 2024. By the end of the process, Strides shareholders collectively owned 44% of OneSource. The broader picture for Strides Pharma has been mixed. Over the past month, the stock has dropped more than 10%, and it’s down 16% over three months. Yet, the long-term story remains strong. The stock has delivered stellar returns of 100% over the past year and nearly 290% over two years, cementing its status as a multibagger.

Life Insurance Corporation of India (LIC), the country’s largest domestic institutional investor, has increased its stake in the public sector railway stock Container Corporation of India (CONCOR). Between September 2024 and January 21, 2025, LIC’s shareholding rose by 2.028%, bringing its stake from 7.78% to 9.809%. This translates to an increase from 4.74 crore shares to 5.97 crore shares, with nearly 40 lakh shares acquired in January alone. LIC made these purchases via open market transactions, signaling its confidence in CONCOR’s long-term prospects despite the stock’s recent struggles. As of its last close at ₹755.45 per share on the BSE, LIC’s stake in the company is valued at approximately ₹4,515 crore. The stock, however, has had a rough ride, declining 15% over the past year. It’s also down 3% in the past month, 12% over the last three months, and a steep 26% in the past six months. CONCOR has announced that its board will meet on January 30, 2025, to discuss the December quarter results and consider declaring a third interim dividend for FY25. This upcoming announcement could be a potential catalyst for the stock’s performance in the near term. LIC’s increased stake amid the downturn highlights its faith in the company’s resilience, perhaps anticipating a turnaround fueled by earnings, dividends, or strategic developments in the railway sector.

PNB Housing Finance shares had a turbulent session on Wednesday, initially rallying over 4% to ₹935 on the BSE before sliding more than 3% on profit booking. The movement came on the heels of strong Q3FY25 results, highlighting the company’s growth momentum. Net profit soared 43% year-on-year to ₹483 crore, driven by a 17% rise in net interest income (NII) to ₹695.7 crore. Retail NII grew 17.4% YoY, while net interest margins edged up to 3.70% from 3.68% QoQ. Disbursements also climbed significantly, rising 29.9% YoY to ₹5,380 crore, fueled by robust growth in the affordable housing segment, which saw disbursement growth of 127% YoY to ₹920 crore. Asset quality showed marked improvement, with gross NPAs falling to 1.19%, compared to 1.73% a year ago. Cost of borrowing remained steady at 7.83%, reflecting prudent financial management. The company also secured ₹5,000 crore in NHB refinance sanctions and a $100 million ECB sanction during the quarter, bolstering liquidity. Managing Director & CEO Girish Kousgi expressed optimism, highlighting the company’s focus on growth in the retail and affordable housing segments. PNB Housing Finance has also delivered impressive long-term returns, gaining 100% over two years and 130% in three years. Brokerage JM Financial maintained a bullish outlook, citing strong growth prospects, branch expansions, and healthy asset quality. It values the stock at 1.4x FY27E BV, with a target price of ₹1,200.

HDFC Bank, India’s largest private lender, delivered a lukewarm Q3FY25 performance, reporting a 2.2% increase in net profit to ₹16,735.5 crore, up from ₹16,372 crore a year ago. While net interest income (NII) grew 7.68% to ₹76,006.88 crore, boosted by higher lending activity, rising expenses and a climb in non-performing assets (NPAs) tempered the results. Gross NPAs inched up to 1.42%, compared to 1.26% a year earlier, while net NPAs rose to 0.46% from 0.31%. These figures signal a slight weakening in asset quality, though they remain manageable. On the revenue front, retail banking was a bright spot, growing 11.11% year-on-year to ₹71,973.92 crore. Wholesale banking, however, saw a 4% dip, bringing in ₹47,683 crore. Treasury operations added some cushion with a 5.2% revenue bump to ₹15,428.73 crore. Despite mixed numbers, HDFC Bank shares edged up 1.43% during Wednesday’s session, trading at ₹1,665.25. Over the past year, the stock has returned nearly 15% to investors, although it has slid 7% year-to-date in 2025. As the bank navigates rising NPAs and fluctuating revenue streams, it continues to hold its ground as a dominant player in India’s banking landscape.

IndiaMART InterMESH took a sharp hit on January 22, with its stock plummeting 10% to a 25-month low of ₹2,065.40. The tumble followed a tepid Q3FY25 performance, where the company’s paid subscriber base dipped—a first since the post-COVID rebound. Brokerage firms wasted no time downgrading their outlook, with Nomura slashing its target price by 40% to ₹1,900 and Nuvama trimming it to ₹1,970 from ₹2,500. Nomura flagged low gross additions, high customer churn, and sluggish collections growth as key concerns, predicting subdued performance in the medium term. Nuvama echoed these sentiments, highlighting weak standalone business collections and the absence of meaningful subscriber retention improvements. Both brokerages downgraded their ratings to “Reduce,” signaling growing caution among investors. Despite the challenges, the company maintains a solid foothold in the online B2B space, commanding a 65% market share. Management is banking on stabilization in churn over the next 2-3 quarters, particularly in Silver monthly packages, before pursuing subscriber growth. On the brighter side, registered buyers increased by 4 million to 206 million, and live product listings climbed to 115 million. For now, IndiaMART’s dominant position and asset-light model remain its saving grace, but all eyes will be on whether the promised recovery materializes in the coming quarters. Investors, it seems, are in wait-and-watch mode.