Stocks to watch: The domestic equity market is expected to open with mild gains on Tuesday, January 21.
At 7:40 AM, the GIFT NIFTY futures were trading at 23,416.00 levels, down 68 points, or 0.29%. This implies that the NIFTY50 index will open 15 points higher.
Here is a list of stocks that may remain in focus today.
Earnings today: As many as 32 companies are slated to declare their financial results for the quarter ended December 31, 2024 (Q3 FY25).
IDBI Bank: On Monday, IDBI Bank reported a 31% growth in net profit to ₹1,908 crore in the December quarter, attributed to lower provisioning and better interest income.
The LIC-controlled bank reported a net profit of ₹1,458 crore in the year-ago period.
The bank’s total income increased to ₹8,565 crore during the quarter under review from ₹7,514 crore in the same period last year.
The bank’s interest income improved during the third quarter of the current fiscal year to ₹7,816 crore, as against ₹6,541 crore a year ago.
The net interest income improved to ₹4,228 crore as against ₹3,435 crore in Q3 of FY24.
The bank had earned a net profit of ₹718 crore in the same quarter a year ago.
Total income increased to ₹9,739 crore during the quarter under review against ₹9,139 crore in the same period last year, the Central Bank of India said in a regulatory filing.
Zomato: Food delivery major Zomato, which owns Blinkit, reported a 57.2% decline in consolidated net profit to ₹59 crore for the third quarter ended December.
The company had earned a net profit of ₹138 crore in the same quarter a year ago.
The company’s consolidated revenue from operations stood at ₹5,405 crore, as against ₹3,288 crore in the corresponding October-December quarter of the previous financial year.
However, during the quarter under review, Zomato’s total expenses also shot up to ₹5,533 crore, from ₹3,383 crore in the corresponding period of 2023-24.
Indian Overseas Bank (IOB): State-owned Indian Overseas Bank (IOB) on Monday reported a 21% rise in net profit at ₹874 crore for the third quarter ended December 2024 on the back of a reduction in bad loans.
The Chennai-based lender had earned a net profit of ₹723 crore in the same quarter a year ago.
Total income increased to ₹8,409 crore during the quarter under review from ₹7,437 crore in the same period last year, IOB said in a regulatory filing.
L&T Finance: L&T Finance Holdings on Tuesday reported a 41% jump in net profit to ₹640 crore for the December quarter, driven by retail loan sales. The Mumbai-based non-banking financial company (NBFC) had earned a net profit of ₹454 crore in the year-ago period.
The net interest income (NII) of the NBFC grew 8% to ₹1,833 crore as compared to ₹1,693 crore in the same quarter in the previous year, L&T Finance Holdings Ltd said in a statement.
Dixon Technologies: The company on Monday reported a consolidated net profit of ₹217 crore in the December 2024 quarter, up 124 percent over last year.
It had reported a net profit of ₹97 crore during the same period of last fiscal.
The company’s revenue from operations stood at ₹10,461 crore, up 117% in the quarter.
(With inputs from PTI)
