Category: News

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.

It’s a rough day for metal stocks. The Nifty Metal index nosedived 2.23% during Wednesday’s trade, hitting an intraday low of 8,341. Almost every constituent of the index saw red, with Welspun Corp, SAIL, Jindal Steel & Power, and National Aluminium bearing the brunt, losing between 3.5% and 4%. This selloff has dragged the index down by 3.4% for January, capping a longer 18% slide since October 2024. What’s fueling this bearish momentum? U.S. President Donald Trump is back with his tariff rhetoric, and this time, it’s China—the world’s largest consumer of base metals—in the crosshairs. Trump floated the idea of slapping a 10% tariff on Chinese imports starting February 1, a move that could disrupt global demand and weigh heavily on metal prices. Indian metal companies aren’t immune. Falling global prices could squeeze margins, and the looming uncertainty has already sparked declines in key base metals on the London Metal Exchange. Copper slipped to $9,251, aluminum eased to $2,641, and nickel, zinc, and lead all followed suit with modest losses. Trump’s trade agenda doesn’t stop with China. His latest threats include duties on European imports and a staggering 100% tariff hike on BRICS nations—including India—if they persist in their de-dollarization efforts. His protectionist stance has long prioritized U.S. industries, but it’s clear the collateral damage extends far beyond American borders. For Indian metal stocks, the near-term outlook is clouded. Global price volatility, coupled with the potential fallout from Trump’s policies, could keep the pressure on. Investors may want to brace for turbulence, as this geopolitical drama unfolds on a stage that spares no one.

Kabra Jewels kicked off its stock market journey with a bang, listing at ₹243 per share on the NSE SME—a jaw-dropping 90% premium over its IPO price of ₹128. But the fireworks didn’t stop there. The stock climbed further to ₹255.35, doubling investors’ wealth in just one trading session. If you’re a lucky IPO subscriber, this debut must feel like striking gold. The ₹40 crore SME IPO, which ran from January 15 to 17, saw frenzied interest across the board. With an overall subscription rate of 356 times, retail and non-institutional investors practically fought over shares. The retail portion alone was oversubscribed 384 times, while the NII segment topped even that at 556 times. It’s no wonder Kabra Jewels had such a blockbuster opening. The company plans to use the IPO proceeds to trim its debt, bolster working capital, and handle general corporate expenses. With a diverse product range that spans gold, diamond, and silver jewellery Kabra Jewels clearly knows how to cater to its audience.

Zomato’s shares just can’t seem to catch a break this week. After tumbling 18% over three straight sessions, the stock slid another 5% this morning to ₹203.80. The sell-off kicked into high gear after the company’s Q3 results dropped on January 20, revealing a 57% slump in net profit to ₹59 crore. Compare that to ₹138 crore a year ago, and the picture doesn’t get any prettier. Sequentially, it’s even worse—profits were down from ₹176 crore in Q2FY25. Sure, revenue is climbing—up 64% year-on-year to ₹5,405 crore—but here’s the rub: Blinkit, Zomato’s quick-commerce wing, is burning cash like there’s no tomorrow. Rapid store expansion led to an EBITDA loss of ₹30 crore for Blinkit, wiping out the gains it posted this time last year. Meanwhile, Zomato’s consolidated EBITDA climbed to ₹162 crore, but the market isn’t impressed. Experts are cautiously optimistic, though. They see Blinkit’s aggressive growth as a long-term play, even if it’s painful now. JM Financial has slapped a ₹280 target on the stock, banking on Blinkit’s potential to double its store count by December 2025. The firm argues that these investments might sting in the short term, but they’re betting big on sustained growth. Technicals paint a bleaker picture. Analysts  warn of a double-top breakdown on Zomato’s daily chart, with downside targets of ₹190 and ₹180. With the stock trading below all major moving averages and an RSI at a dismal 27.77, bearish momentum seems firmly in control. For any chance of a turnaround, Zomato needs to convincingly break past ₹220 and ₹240 with strong volume. Until then, the bears are running the show.

Tata Communications just delivered a blockbuster Q3, posting a staggering 424% year-on-year net profit surge to ₹236.08 crore. Even after excluding discontinued operations, profits from continuing operations skyrocketed by 227% to ₹256.6 crore, showcasing the company’s operational strength. Sequentially, it wasn’t a slow climb either, with a 12.9% jump over the previous quarter. Revenue growth, while more subdued, painted a steady picture at ₹5,798.07 crore—up 3.76% year-on-year. The real standout, however, came from the company’s data and digital segments. Data revenues grew 6.2% to ₹4,903 crore, while digital revenues notched an impressive 10.2% jump to ₹2,313 crore, reinforcing Tata Communications’ evolution into a digital-first infrastructure powerhouse. CEO A.S. Lakshminarayanan was optimistic about the results, highlighting the solid growth in digital revenues, margin expansion, and robust free cash flow. His forward-looking remarks emphasized the critical role of digital infrastructure in an AI-driven future, positioning the company’s “Digital Fabric” investments as a key differentiator.

Dixon Technologies, a leading electronics contract manufacturer, reported a robust 77.5% year-on-year increase in its consolidated net profit (attributable to the company’s owners) for the third quarter of FY25, amounting to ₹171.19 crore, compared to ₹96.44 crore in the same period last year. However, on a sequential basis, the net profit saw a sharp decline of 56%. Dixon Tech shares closed at ₹17,554.45, reflecting a 1.87% rise on the BSE. The company’s consolidated revenue for Q3FY25 surged by nearly 117% year-on-year to ₹10,453.68 crore, up from ₹4,818.25 crore in Q3FY24. Yet, the revenue was down 9.4% compared to the previous quarter. A notable decline came from the Consumer Electronics & Appliances division, which reported a 32% fall in revenue year-on-year and more than a 50% drop sequentially, bringing in ₹633 crore. On a brighter note, the Home Appliances division saw a 9% rise in revenue year-on-year, reaching ₹315 crore, though it was down by 29% compared to the September quarter. On the operational front, Dixon’s earnings before interest, taxes, depreciation, and amortization (EBITDA) jumped 113% year-on-year, reaching ₹398 crore, up from ₹187 crore in Q3FY24. The company continues to dominate in the manufacturing of a wide range of electronic products, including consumer durables, home appliances, lighting products, mobile phones, telecom products, and security gadgets.

Laxmi Dental had a stellar debut on the stock market on January 20, listing at ₹542 per share on the NSE, which was a 26.64% premium over its issue price of ₹428. On the BSE, the stock opened at ₹528, reflecting a 23.36% increase from the issue price. The stock continued to rise, gaining another 8% to touch ₹584, and by noon, it was trading at ₹571.30. The strong listing was driven by an overwhelming investor response, with the IPO oversubscribed by 114 times, and significant interest from the non-institutional investors (NII) segment. The total value of the bids received stood at nearly ₹44,000 crore, far surpassing the issue size of ₹698 crore. The IPO comprised a fresh issue of 0.32 crore shares worth ₹138 crore, and an offer for sale of 1.31 crore shares valued at ₹560 crore. The company plans to use the proceeds from the fresh issue for various purposes, including the repayment of outstanding borrowings, investment in subsidiaries, and funding capital expenditure for machinery purchases. The company is among the top two largest dental laboratories in India by revenue for fiscal 2023 and is the largest exporter of dental products among Indian labs, primarily serving markets in the US, UK, and Europe. With a 20-year presence in the dental lab business, Laxmi Dental serves over 20,000 dental clinics, companies, and dentists, making it a significant player in both domestic and international dental markets.

Indian Overseas Bank (IOB) posted a robust set of results for the December 2024 quarter, with a 21% year-on-year (YoY) growth in net profit, reaching ₹873 crore compared to ₹722 crore in the same period last year. On a sequential basis, the net profit improved by 12.35%, up from ₹777 crore in the September quarter. The bank’s net interest income (NII) rose 16.35% YoY, amounting to ₹2,789 crore, up from ₹2,397 crore in Q3FY24, reflecting a solid growth trajectory. Other income also saw a healthy increase, climbing 13.60% to ₹1,297 crore from ₹1,261 crore in the corresponding quarter last year. This resulted in a 27.3% increase in pre-provision operating profit (PPoP), which reached ₹2,266 crore, compared to ₹1,780 crore in Q3FY24. In terms of gross NPAs, the bank saw a decline in absolute terms to ₹6,070 crore from ₹8,440 crore quarter-on-quarter, while net NPAs reduced to ₹975 crore from ₹1,059 crore year-on-year. The return on assets (ROA) improved to 0.93%, up 7 basis points from the previous year. Additionally, the bank recently announced the sale of ₹11,500 crore worth of non-performing assets (NPAs) to asset reconstruction companies. In response to the strong earnings report, IOB’s shares surged by 6%, reaching ₹53.65 apiece. Despite this rise, the stock remains 23% lower than its level in June 2024, following a massive 318% rally between June 2022 and May 2024.