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Indian equity indices Sensex and Nifty50 traded lower on the first trading day of 2025 due to losses in banking stocks amidst the upcoming quarterly earnings season. Key gainers included Sun Pharma and Infosys, while ICICI Bank and Axis Bank saw declines. Sectoral performance was mixed.

The stock quoted a 52-week high price of Rs 1215.00 and low of Rs 669.65.

ICICI Securities has given a buy recommendation on Jindal Steel & Power with a target price of Rs 1215. The current market price is Rs 918.6. Jindal Steel & Power has a market cap of Rs 93623.69 Crore and operates in the Metals sector. Key financials and investment rationale highlight positive future outlook.

Although we may see a 10% upside from here in the early part of the year, the year 2025 may not end with such gains unless the geopolitical situation eases materially and Trump acts rationally and in a broad-minded way so that the Sino-US tensions do not derail the global growth trajectory. Investors will do well to scale down their expectations of returns from the equity market.

The project is estimated to cost ₹5,663 crore and will feature a levelized tariff of ₹9.39 per kWh, based on February 2024 price levels and assuming a pumping energy rate of ₹3 per kWh.

Motilal Oswal Financial Services recommends buying Ipca Laboratories with a target price of Rs 1980. The company reported strong quarterly financial growth, with a rise in total income and net profit. Key management and strategic moves to optimize operations are expected to drive substantial earnings growth. Ipca is reviving its US business and improving efficiency to enhance profitability.

Shareholders who buy the stock at least one day before the ex-date are eligible for the offers as settlement happens the next day. Those buying the stock on the ex-date are not eligible for dividends/splits/bonus issues etc.