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A total of 34,328 shares changed hands on the counter till 12:58PM (IST)

The stock traded at a P/E multiple of 8.75, while the price-to-book value ratio stood at 1.34.

HFCL shares soared 4.3% on January 17 after receiving an advance work order worth Rs 2,501.30 crore from BSNL for BharatNet Phase III in Punjab. The contract involves design, supply, construction, and maintenance, with completion expected in three years and a 10-year maintenance period. HFCL’s technical indicators show a bearish outlook, trading below several moving averages.

Indian benchmark indices Sensex and Nifty50 opened lower on Friday, dragged by declines in Infosys and Axis Bank stocks after their Q3 results. Shares of Infosys fell over 4% despite an 11% YoY growth in net profit. Axis Bank shares also dropped over 4% following a miss in quarterly profit forecast, citing slower loan growth and higher provisions.

When the closing price falls below the VWAP, it signifies that the closing price is lower than the average price at which the stock was traded throughout the day, with the average being weighted by trading volume.

Waaree Renewable Technologies reported a 16.7% YoY decline in profit after tax (PAT) for Q3FY25, at Rs 53.50 crore, compared to Rs 64.25 crore in Q3FY24. However, the company saw an 11.15% YoY revenue growth, reaching Rs 360.35 crore. For 9MFY25, revenue surged 85.87% YoY to Rs 1,121.17 crore, compared to Rs 603.19 crore in 9MFY24.

Nifty futures closed with a 0.61% gain at 23,406 on Thursday. Options data suggests a broader trading range between 22,800 to 23,700, with an immediate range between 23,100 to 23,500. Experts recommended stocks for short-term trading, including Maruti Suzuki, SBI Cards, SAIL, Hindalco, Aarti Industries, and Nykaa, with specific buy targets and stop losses for each.

Investor interest in emerging markets like India, China, Korea, and Taiwan is strong, but the immediate allure of US equities and bonds remains dominant. Market sentiment is fluid, with upcoming events such as Trump’s potential return and China’s Lunar New Year influencing decisions. While emerging markets attract attention, the focus has been on the major Asian markets recently.

ICICI Securities recommends buying REC shares, setting a target price of Rs 600. REC, a large-cap company in the Term Lending Institutions sector, reported increases in both Total Income and net profit for the quarter ending 30-09-2024. REC aims for a 30% share in renewables by FY30, supported by strong macro tailwinds and expected capex.