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Jindal Steel & Power Ltd (JSPL) saw a 14% drop in share price to Rs 724 following a 51% year-on-year decline in net profit to Rs 951 crore for Q3. Weak steel prices and cheaper imports impacted earnings, despite a 5% rise in sales volume. EBITDA fell 24%, with revenues flat at Rs 13,707 crore.

Top brokerages suggest investment themes for Budget 2025, highlighting sectors like infrastructure, defense, and railways poised for significant growth. Analysts expect increased capex allocation and fiscal deficit targets, alongside potential boosts for financials, health, consumption, automobiles, real estate, and power sectors.

Railway-related stocks will be in focus on February 1, with expectations of a significant capital expenditure boost in the upcoming Budget. Key companies to watch include IRCON, RVNL, IRCTC, BEML, and those linked to the Kavach safety system. Increased rail investment is expected due to environmental and logistical benefits, with a shift in Budget allocation favoring railways over highways.

The Indian market is expected to remain volatile ahead of Budget 2025 announcements. Nifty closed positively on Friday, while India VIX dropped. Options data suggests a broader trading range between 23,100 and 24,000. Experts recommend stocks like MGL, Manappuram Finance, UPL, Ashok Leyland, and HAL for short-term trading opportunities based on technical analysis.

Motilal Oswal Financial Services maintains a neutral rating on Hindustan Zinc Ltd. with a target price of Rs 460. Hindustan Zinc, operating in the Non-Ferrous Metals sector, reported significant quarterly income growth. Focus remains on improving production and controlling costs. Promoters hold 63.42% stake, with expectations of sustained profitability driving the market valuation.

Biocon plans to list its biosimilars business by March 2026 and aims for a double-digit market share in the U.S. for five new biosimilars launching next fiscal year. The U.S. market, already significant for Biocon, is set to increase with new products in diabetes, oncology, and immunotherapy.

The 200-day DMA is a key indicator used by traders to determine the overall trend of a stock.

Oil prices rose as President Trump anticipated reducing proposed tariffs on Canadian oil from 25% to 10%, with duties on oil and gas expected around February 18. The adjustment and potential inclusion of oil in tariffs led to uncertainty and price increases. Canada and Mexico, major crude exporters to the U.S., may retaliate if tariffs are implemented.