Latest Stock Market News

Shares of Cyient Ltd fell 18.58% after weak Q3 FY25 results and CEO resignation. The DET segment saw a drop in YoY profit, while revenue guidance for FY25 was revised downward. Leadership change and execution issues led to stock downgrades by JP Morgan and Emkay Global.

Rupee appreciated 18 paise to 86.26 against the US dollar in morning trade, supported by positive domestic equities and a soft American currency index. A weakening dollar and upcoming inflows from fundraising activities by IREDA are expected to further support the rupee, while foreign fund outflows continue to weigh on it.

Waaree Renewable Technologies shares surged 667% in 4 months but recently fell 68% due to a double-top pattern. Analysts advise avoiding the stock amid bearish momentum and suggest waiting for a rebound near support levels around Rs 740. Immediate support is at Rs 875, with resistance at Rs 1,118-1,190.

Brokerages such as CLSA, Macquarie, and Morgan Stanley have shared their ratings on prominent stocks like Dr. Lal Pathlabs, Aurobindo Pharma, Hindustan Unilever, HDFC Bank, and Polycab India. Recommendations indicate potential upsides ranging from 14% to 28% over the next 12 months, reflecting optimism about their growth prospects. Key target prices and ratings include upgrades and maintained outlooks.

Shares of Hindustan Petroleum Corporation (HPCL) may gain attention following its 257% year-on-year rise in consolidated net profit for Q3, reaching Rs 2,544 crore. Revenue from operations slightly increased to Rs 1,18,513 crore. This growth is attributed to strong physical performance, improved margins, and operational efficiencies despite lower Average Gross Refining Margin this quarter.

Revenue from operations for the December quarter was Rs 8,359 crore, marking a 16% increase from Rs 7,215 crore in the same quarter of the previous financial year.

Motilal Oswal Financial Services recommends a buy on Siemens with a target price of Rs 7,500. Despite a slight reduction in estimates, Siemens is expected to emerge as a manufacturing hub due to governmental capex revival and export focus. Promoters hold 75% shares, while FIIs own 8.77% and DIIs 6.73% as of December 2024.

Indus Towers shares are in focus after the company posted a 160% YoY surge in net profit to Rs 4,003 crore for Q3, driven by strong tower additions and overdue collections from Vodafone Idea. The company also entered the EV charging infrastructure sector and reported a 4.8% YoY growth in quarterly revenues, reaching Rs 7,547 crore.

Forward earnings estimates for companies in the MSCI Asia Pacific Index have fallen by over 4% since the end of September, according to Bloomberg data. The outlook remains bleak for the largest markets: China is projected to see only modest earnings growth for 2024, despite a stimulus push, while India’s thriving tech sector faces challenges in justifying its high valuations.