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Benchmark equity indices opened flat on Wednesday as gains in HDFC Bank, Infosys, and NTPC were offset by losses in Asian Paints and Reliance Industries. Investors remained cautious ahead of the Reserve Bank of India s monetary policy meeting, with Asian Paints shares dropping over 4% due to a significant decline in Q3FY25 net profit.

HDFC Securities has an add call on IRB Infrastructure Developers with a target price of Rs 67. IRB Infrastructure reported a 19.34% rise in consolidated total income for the quarter ended 31-12-2024, with a net profit after tax of Rs 6026.11 crore. The company expects significant opportunities under PPP mode for BOT projects worth Rs 2trn.

Birla Corporation reported a 71.4% YoY decline in consolidated net profit to Rs 31.19 crore for Q3 FY25, impacted by lower cement prices in Maharashtra and central India. Despite this, the company saw a 7% YoY volume growth, driven by improved market conditions. The stock has an average target price of Rs 1,483, with analysts recommending a Strong Buy .

Jefferies, Goldman Sachs, Nuvama, and Morgan Stanley have identified stocks with significant upside potential. ONGC, Divi s Laboratories, Adani Ports, LIC Housing Finance, and Maruti Suzuki are recommended buys, with expected returns ranging from 13% to 50%. These top global brokerage firms highlight strong investment opportunities for the next 12 months across various sectors.

ICICI Securities recommends a sell on Divi s Laboratories with a target price of Rs 4,500 despite recent quarterly growth. Management remains optimistic about future revenue growth driven by custom synthesis and new projects. Promoters hold a significant 51.89% stake, with FIIs and DIIs owning substantial shares. The company aims for commercial success in its Kakinada plant.

Four Nifty500 stocks closed over 1.5% below VWAP on February 4, indicating a bearish trend: Radico Khaitan, Sona BLW, NLC India, and Jupiter Wagons saw increased selling pressure.

State Bank of India (SBI) is expected to report high single-digit growth in net interest income (NII) for Q3 FY25, driven by strong loan growth. Estimated topline is between Rs 42,290 crore and Rs 42,845 crore, with net profit potentially rising 61%-89%. Provisions may increase YoY, while NIMs could dip. Earnings will be announced on February 6, 2025.

The rupee weakened amid tariff concerns but showed asymmetry in recovery, indicating RBI’s intent to correct overvaluation. The central bank has shifted its FX intervention strategy to support growth by easing monetary conditions. A rate cut is likely, and a weaker rupee could aid fiscal consolidation, protect domestic manufacturers, and help RBI transfer surplus to the government.

The revenue from operations for Q3FY25 stood at Rs 8,549 crore, marking a 6% decline from Rs 9,103 crore reported in the corresponding quarter of the previous financial year.