Latest Stock Market News

ICICI Bank shares: The lender reported a 14.8% YoY increase in Q3 profit after tax, reaching Rs 11,792 crore. The bank saw a 9.1% YoY growth in net interest income and stable asset quality. With strong deposit and credit growth, analysts maintain a positive outlook, with target prices ranging from Rs 1,440 to Rs 1,550.

Indian market likely to trade lower on Monday, tracking muted global cues. Nifty future closed with a 0.64% loss on Friday, with India VIX slightly higher. Options data suggests a broad trading range. Experts recommend specific buy and sell targets for stocks like Laurus Labs, Bajaj Finserv, Havells India, and Muthoot Finance, among others.

With a 2% negative return so far, January appears to end the same way as December which also closed 2% down. But despite the consecutive negative months, it must be noted that unlike October 204, which saw a 6.2% fall, the subsequent months’ close have not been too deep in the red, pointing to the presence of buying interest.

Shakti Pumps posted a 130% YoY increase in net profit for Q3 FY24, reaching Rs 104 crore, with revenue from operations up 31% at Rs 648.8 crore. The company’s EBITDA surged 117.46%, and their stock suggests an upside potential of 52%. Shakti Pump shares have risen significantly over the past three months and two years.

Foreign institutional ownership in Reliance Industries has fallen to decade lows after consistent selling over two years, amidst cyclical challenges in chemicals and retail. Analysts now see potential for growth, driven by retail, new energy, and Gen AI initiatives, leading to an anticipated inflection in FY26.

JM Financial advises buying Coforge stock, predicting it will reach Rs 10,990 in a year. The company, operating in the IT sector, has shown strong income growth and a significant net profit. Coforge has reported positive quarterly results and is expected to maintain growth through major deals and services. The rating is BUY.

Indian benchmark equity indices Sensex and Nifty50 opened lower for the second consecutive session on Monday due to concerns over weak corporate earnings, US trade policy uncertainty, and foreign outflows. Key stocks like Zomato and IndusInd Bank faced losses, while FPIs have pulled out $7.44 billion from equities in January.

This can indicate potential upward movement and may be used by traders to identify buying opportunities.

HDFC Securities maintains an add rating on UltraTech Cement with a revised target price of Rs 12100. UltraTech Cement reported a consolidated total income of Rs 17437.62 crore for Q3FY25, showing significant volume growth and cost reductions, which resulted in higher unit EBITDA. The company’s net profit for the quarter stands at Rs 1474.77 crore.