The Indian stock market indices ended in the green on January 23 after opening in the red in the morning. Sensex 30 ended the day at 76,520.38 points, up 115.39 points or 0.15%. On the other hand, Nifty ended the day’s trade at 23,205.35 points, recording a rise of 50.00 points or 0.22%. Market analysts noted that sectoral trends appeared mixed on January 23. Pharma and IT shares ended the day higher. Two vital sectors such as banking and energy appeared lacklustre.
“Uncertainty lingers whether the trade tariff measures will affect global trade, instigate higher inflation, and currencies volatility. The trend holds a declining momentum YTD with a pause today contemplating the upcoming 2025 budget, which has a muted expectation. Meanwhile in-line Q3 results showcasing QoQ growth to the indices suggesting that Q4 will be much better,” Vinod Nair, head of research of Geojit Financial Services was quoted in the media as saying.
Kotak Mahindra Bank
The shares of Kotak Mahindra Bank stood at Rs 1,893.00, down Rs 24.50 (or 1.28%) on January 23, 2025. This bank is in the news for signing an agreement to acquire personal loan portfolio amounting to Rs 3,330 crore from Standard Chartered Bank. This amount was however lower than the Rs 4,100 crore, the amount indicated in October 2024. The reason: many customers paid-off the loans between October and January. Aoording to reports, these personal loans are part of unsecured retail advances.
Indigo
InterGlobe Aviation is the holding company for Indigo, which has the largest share of the domestic civil aviation market. This company is set to declare its Q3 refults for FY25 results on Friday, January 24, 2025. The October-December period was significant for the Indian aviation industry since it witnessed teh consolidation with Vistara merging into Air India. Air Asia and Air India Express to merged in this time period. The Q3 results will be more keenly awaited since they will follow a loss of Rs 986 crore in Q2 of FY25. That loss came after 7 consecutive quarters of profit. Moreover, airline fares in the October-to-December quarter were significantly higher, fuelled by festivities and wedding season.
Greenlam Industries
The company has commenced commercial commercial production of chipboard at its manufacturing facility located in Naidupeta, Andhra Pradesh on January 23. “…we are pleased to inform you that, Greenlam Limited, a wholly owned subsidiary of Greenlam Industries Limited, has commenced commercial production of chipboard at its manufacturing facility located in Naidupeta, Andhra Pradesh with effect from January 23, 2025,” the company said in a filing to the stock exchanges. This factory has a production capacity of 2,92,380 cubic meters a year and is expected to generate sales of up to Rs 750 crore at full capacity utilisation.
Adani Wilmar
The Adani Wilmar share price stood at Rs 261.95 , down Rs 5.40 (or 2.02%) on January 23. According to reports, the company, one of India’s largest FMCG companies, began operations at its integrated food processing plant in Gohana, in Haryana. This complex is one of the largest in India and was built at a project cost of Rs 1,298 crore. This stock was already in the news for the strategic exit of the Adanis from the joint venture.
Lloyds Engineering Works
The Lloyds Engineering Works stock ended trade on January 23 at Rs 82.75, down Rs 1.34 (or 1.59%). The company has informed stock exchanges that it has signed a MoU with EMCO for land acquisition measuring 25 hectares and 48 acres for industrial use.
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Stocks in news today: Kotak Mahindra Bank, Indigo, Greenlam Industries, Adani Wilmar and Lloyds Engineering Works for various reasons. The Indian stock market indices ended in the green on January 23 after opening in the red in the morning. Sensex 30 ended the day at 76,520.38 points, up 115.39 points or 0.15%. On the other hand, Nifty ended the day’s trade at 23,205.35 points, recording a rise of 50.00 points or 0.22%. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
