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Zomato’s Q3FY25 earnings had something for everyone—except maybe those hoping for a profit spike. The company’s net profit dropped a hefty 57.3% year-on-year, landing at ₹59 crore. That’s quite the tumble from last year’s ₹138 crore, with much of the blame falling on Blinkit, Zomato’s quick-commerce wing, and its ambitious expansion spree. Still, there’s growth to gawk at. Revenue from operations surged 64.4%, hitting ₹5,405 crore, and the gross order value (GOV) for its B2C business skyrocketed 57% to ₹20,206 crore. Food delivery revenue climbed 22%, but Blinkit stole the spotlight, doubling its revenue. Ambition seems to come with a price tag, though—Blinkit clocked a net loss of ₹103 crore this quarter while hurtling toward its 2,000-store target a year ahead of schedule. It’s aggressive, sure, but Zomato clearly sees Blinkit as its big bet in quick commerce. Expenses surged too, now at ₹5,533 crore, up from ₹3,383 crore last year. Despite the rising costs, Zomato’s operational metrics offered a silver lining: EBITDA rose to ₹162 crore compared to ₹51 crore last year, and the EBIT margin edged up to 3% from 1.6%. Analysts are keeping faith, with many pointing to Zomato’s free cash flow generation as a rare feat in the hyperlocal delivery sector. For now, Zomato sits atop the quick-commerce throne, holding 46% of the market and fending off rivals like Swiggy Instamart, Zepto, and BigBasket. But with Blinkit facing tough competition and still racking up losses, the path to profitability might be longer than its next delivery window. Investors will need patience as Zomato balances its growth narrative with mounting costs.

Vodafone Idea lit up the market on Monday, with its shares spiking 10% to hit the upper circuit at ₹10.03. The surge comes amid reports that the government may be softening its stance on adjusted gross revenue (AGR) dues—a lifeline for struggling telcos like Vodafone Idea. At 9:35 AM, the stock was locked at its day’s limit, a significant leap from its previous close of ₹9.12. According to sources, the government is mulling over a proposal to waive 50% of interest and all penalties tied to AGR dues—an issue that has loomed over telecom companies since the Supreme Court’s 2019 verdict. With penalties and interest often making up the bulk of these dues, this move could dramatically ease the financial strain. The numbers back the optimism. TRAI data shows that telecom operators’ gross revenue climbed 10.5% year-on-year in Q2 FY25, with adjusted gross revenue up 13.1%. Vodafone Idea’s own AGR grew 4.39% to ₹7,836.98 crore in the same period. This rally also follows a five-session winning streak for the stock, now up almost 30% since January 14. Adding fuel to the fire, recent preferential issues have bolstered Vodafone Idea’s equity base. Omega Telecom Holdings upped its stake with an additional 1.08 billion shares, while Usha Martin Telematics snagged 608 million shares in similar fashion. After a rollercoaster year—hitting a 52-week high of ₹19.15 in June and a low of ₹6.60 in November—the stock’s latest rally hints at renewed investor confidence. If the AGR waiver materializes, Vodafone Idea might just find the breathing room it desperately needs.

Sugar stocks like Dalmia Bharat Sugar and Balrampur Chini Mills are on a sugar rush, climbing sharply on whispers of a government nod for exports. The buzz is that India may greenlight 1 million tonnes of sugar exports soon—a move that could smooth out the domestic surplus while sweetening prices. For an industry that kicks off its sugar season every October, this would be a welcome boost. The market responded swiftly. Dalmia Bharat Sugar opened the week on a high note at ₹369.05, edging past its previous close of ₹359.05. The momentum carried it to intraday peaks of ₹379.05, notching a 4.5% gain. Balrampur Chini Mills followed suit, starting strong at ₹508.05 against Friday’s ₹495.20 close, and surged to ₹519, bagging a near 5% gain. Centrum Broking is bullish on this development, citing two key factors: the rupee’s depreciation could amplify export realizations, and domestic sugar prices are already on an upswing. Prices in Uttar Pradesh have surged ₹1,000–₹1,500 per tonne, hovering around ₹39,500–₹40,000 per tonne. This, they say, could significantly lift EBITDA margins in the latter half of FY25 and into FY26. Maharashtra is seeing similar, albeit less pronounced, price action. With sugar stocks gaining steady ground and Balrampur Chini Mills topping Centrum’s picks for the sector, the market seems to be betting big on sweet times ahead.

Global brokerage firm Citi Research has initiated coverage on Aadhar Housing Finance with a ‘buy’ rating and a target price of ₹565 per share, suggesting an upside potential of 42% from its current price of ₹398. The firm is optimistic about the company’s consistent growth, which has averaged over 16% CAGR over the past 4-6 years, significantly outpacing the single-digit growth seen in the affordable housing finance market. Aadhar has carved out a niche, with a 2% market share in the low-income housing finance segment (defined as an average ticket size under ₹2.5 million). The brokerage expects Aadhar’s disbursement growth to continue driving AUM growth at a 21-22% CAGR, with additional levers including expanding beyond its core states, increasing sales offices, and further growing its share of self-employed customers. Additionally, the company is expected to improve productivity as new branches mature and manage its repayment and prepayment rates effectively. From a financial standpoint, Citi projects a 22% PAT growth from FY24 to FY27, driven by AUM growth, stable NIMs on AUM, contained credit costs, and lower operational expenses as leverage kicks in. The brokerage believes these factors will enhance Aadhar’s return on assets (RoA) and return on equity (RoE), pushing them to above 4.5% and 16.5%, respectively, over the same period. Despite a recent 23.15% correction from its all-time high of ₹516.65 per share in September, Aadhar’s stock has gained 26.3% since its IPO in May 2024. It debuted at ₹329 per share, 4.6% higher than its issue price of ₹315.

Zomato’s stock has fallen by around 16% over the past month, prompting analysts to suggest that this could be a good buying opportunity, especially for long-term investors. According to JM Financial, the recent negative sentiment surrounding the stock presents a chance to capitalize on the dip. The stock is currently trading 21% lower than its all-time highs, primarily due to growing concerns over increased investments in Blinkit’s supply chain and heightened competition in the quick commerce sector. While these worries are valid, JM Financial believes that the impact on Blinkit’s adjusted EBITDA margin may not be significant and that the deviation from break-even targets will be limited. Additionally, the firm sees the supply chain investments as a necessary step to help Blinkit compete with emerging rivals. JM Financial maintains a target price of ₹300 for Zomato, based on a 75x multiple on its Mar’27 earnings per share. The brokerage continues to rate the stock as a “BUY” and considers Zomato one of its preferred picks in the Internet space. Similarly, global brokerage CLSA has also shown optimism about Zomato, placing it in its High Conviction O-PF list. Zomato will release its Q3FY25 earnings on January 20, with analysts watching closely after its Q2FY25 profit surged fivefold to ₹176 crore. However, the company did report a 30% drop in profit compared to Q1FY25. Despite this, its operating revenue showed strong growth, increasing by 69% YoY to ₹4,799 crore.

Shares of Surana Telecom and Power surged 8% on January 17, reaching ₹25.80 per share, after the company announced it had secured a significant order from Maharashtra State Electricity Distribution. The order, worth ₹190 crore, involves the development of solar photovoltaic power-generating stations with a combined capacity of 54 MW (AC). This order value represents 55% of the company’s market capitalisation, which stands at ₹342 crore. The project is expected to be completed within 18 months from receiving the Letter of Award (LOA), with a 25-year operation and maintenance period from the Commercial Operation Date (COD). The company confirmed that the solar power stations are part of the Mukhyamantri Saur Krushi Vahini Yojana 2.0, an initiative under the PM-KUSUM Scheme. The electricity tariff for the project is set at ₹3.09 per kWh, with a subsidy of ₹1.05 crore per MW. This major contract is a significant boost to the company’s prospects. Surana Telecom and Power’s stock has performed impressively over recent months, rising 194% from ₹8.40 in April 2023 to its current value of ₹25. Over the past five years, the stock has delivered an even more remarkable 523% gain, consistently posting positive returns each calendar year since CY20. The latest order win further enhances its growth outlook, boosting investor confidence.

SBI Life Insurance Company announced impressive results for Q3FY25 on January 17, with net profit surging 71% year-on-year to ₹550.82 crore, compared to ₹321.75 crore in the same quarter last year. Sequentially, the profit rose by a modest 4% from ₹529.42 crore in Q2FY25, signaling consistent performance. The company’s net premium income hit ₹24,828 crore, marking an 11% YoY increase and a 22% rise over the previous quarter. Renewal premiums played a significant role, growing 14% YoY to ₹14,468 crore and showing a strong 23% sequential jump. Single premiums also exhibited steady demand, reaching ₹4,079 crore, up slightly from ₹4,062 crore a year earlier. For the nine-month period ending December 2024, SBI Life reported a marginal 1% growth in New Business Premiums (NBP), totaling ₹26,260 crore. However, renewal premiums demonstrated robust growth, climbing 15% YoY to ₹34,730 crore. The Gross Written Premium (GWP) for the period rose 9% to ₹60,980 crore, driven by a 12% increase in New Business Regular Premiums and sustained growth in renewals. Investors responded positively to the results, pushing the stock up by 2.7% to a day high of ₹1,555.55. Although it remains 20% below its September 2024 peak of ₹1,935, the stock has recovered 19% from its 52-week low of ₹1,307 recorded in June 2024. With strong renewal premiums and steady growth across segments, SBI Life Insurance continues to demonstrate resilience and a promising outlook for the remainder of FY25.

Shares of PVR Inox, India’s largest multiplex operator, have been under heavy selling pressure, falling 30% in the last six weeks and plunging 37% from a September high of ₹1,748 to ₹1,100. The stock hit its lowest level since April 2021, shrinking the company’s market cap from ₹16,553 crore to just ₹11,000 crore in four months. The decline stems from disappointing Q3FY24 results and concerns over the HMPV virus. However, analysts at JM Financial suggest much of the selling was technical, driven by arbitrage funds that exited trades as spreads narrowed due to weaker box office (BO) performances and PVR Inox’s exclusion from F&O. With arbitrage fund holdings now below 1%, the technical drag seems to have subsided. Despite a 3% drop in 2024’s ₹118 billion BO collection—impacted by Hollywood strikes, a quiet Bollywood calendar, and events like the T20 World Cup—JM Financial remains optimistic about 2025. The Hollywood slate is packed with blockbusters like Jurassic Park, Avatar, and Marvel films, while Bollywood megastars return with Sikandar and Sitare Zameen Par. JM Financial expects growth to rebound and has set a revised price target of ₹1,600, indicating a 45% upside from the current price. Geojit Financial Services echoes this optimism, upgrading the stock to a ‘buy’ with a target price of ₹1,437. Ventura Securities, meanwhile, remains bullish with a target of ₹2,657, highlighting the potential for long-term recovery. Though challenges remain, analysts believe the stock is attractively valued, with a promising pipeline poised to rekindle growth. For investors willing to weather short-term volatility, PVR Inox may present an opportunity for significant gains.

IRB Infrastructure Developers saw a 4% jump in its stock price on January 17, following the release of a significant share encumbrance by promoter Sudha Dattaray. This move, disclosed under SEBI’s Substantial Acquisition of Shares and Takeovers Regulations, revealed the release of 28.4 lakh pledged shares, or 0.047% of the company’s equity. Dattaray, holding 50.59 lakh shares (0.08% of total equity), had previously pledged 35.90 lakh shares for personal borrowing. With this disclosure, only 7.5 lakh shares (0.01% of equity) remain encumbered. The reduction in pledged shares signals eased financial obligations, boosting investor confidence amid a tepid market. The stock hit a day’s high of ₹54.78, marking a 4.2% rise. Despite being 30% below its 52-week peak of ₹78.05 (June 2024), the stock has climbed 22% from its 52-week low of ₹44.96 in January 2024, with a 15.5% annual gain. Operationally, IRB posted a 4% rise in Q2FY25 net profit to ₹99.86 crore, though total income dropped to ₹1,751.16 crore from ₹1,874.50 crore YoY. Toll collections surged 25% YoY, driven by its Private InvIT projects, highlighting robust asset performance despite monsoon disruptions. Management remains optimistic, citing steady toll growth and portfolio resilience, further reinforcing the positive sentiment surrounding the share pledge release.