Latest Stock Market News

Bajaj Finance posted a 17% YoY rise in consolidated net profit for the December quarter, reaching Rs 4,247 crore, surpassing estimates. Revenue from operations increased by 13%, and net interest income rose by 23%. Assets under management grew by 28%, and new loans booked hit a record 12.06 million. Analysts have mixed ratings on the stock.

Adani Ports and Special Economic Zone (APSEZ) is expected to show a 7-8% year-on-year revenue growth for Q3FY25. Net profit is projected to increase by up to 13%. Analysts from InCred and Nuvama anticipate strong results driven by firm tariffs and increased volumes, despite fluctuations in coal cargo.

Shares of L&T, Adani Enterprises, Adani Ports and Bajaj Finserv will be in focus as the companies will announce their third quarter results later today.

Shares in Japan opened slightly lower, weighing down a gauge of Asian equities despite a small gain for shares in Australia. Many of the region’s equity markets including China, South Korea and Taiwan remained closed for the Lunar New Year holiday.

Stocks that were in focus include names like Ambuja, which fell 4% and L&T, which gained 1% and Dabur, whose shares declined 1.4% on Wednesday.

Markets are more than fully priced for the ECB to trim rates by 25 basis points to 2.75% later on Thursday, with even a small chance of 50 basis points given how weak the EU economy is.

Lok Capital invested Rs 20 crore in the tech-enabled NBFC, bringing its total investment to Rs 70 crore. UC Impower, incubated by Unitus Capital, contributed Rs 30 crore.

The Fed reduced its rate last year to 4.3% from 5.3%, in part out of concern that the job market was weakening. Hiring had slowed in the summer and the unemployment rate ticked up, leading Fed officials to approve an outsized half-point cut in September. Yet hiring rebounded last month and the unemployment rate declined slightly, to a low 4.1%.

The NSE Nifty climbed 0.9% or 205 points, to close at 23,163. The BSE Sensex gained 0.8%, or 631 points, to 76,532. Upsides in the broader market were stronger with the Midcap 150 index and the Smallcap 250 index surging 2.4% and 3.2%, respectively - the largest single-day gains in seven months.

The company also unveiled an AI-driven business transformation plan FINAI for FY25-FY29, looking to double its customer base to 200 million and expand credit market share by FY29.