After a day of massive losses on Tuesday, the Indian stock market indices recovered on January 22. At the close of trade, Sensex 30 stood at 76,404.99 points, up 566.63 points or 0.75%, while Nifty 50 closed trading at 23,155.35 points after rising 130.70 points (or 0.57%). The benchmark indices were mainly powered by strong performance by IT heavyweights.
Data showed that the market breadth was negative — 2,802 stocks going down compared to 1,142 advances on BSE and 115 remaining unchanged. Among the IT space, the top gainers were Wipro, Infosys, TCS and Tech Mahindra. HDFC Bank gained 1.80%. Prominent losers included Bharat Electronics, Tata Motors, Trent and Power Grid. The following stocks are in the news on January 23. 2025.
Tata Communications
The price of the Tata Communications stock stood at Rs 1,673.00 on January 22 after recording a dip of Rs 24.05 (or 1.42%). On Wednesday, January 22, Tata Communications posted a huge jump in consolidated net profit for the October-December quarter which rose from Rs 45 crore in the same period in 2023 to Rs 257 crore in 2024. Tata Communications’ MD and CEO A S Lakshminarayanan said he has a bright outlook on business prospects based on transformative technology and the urgent need for companies to take advantage of AI and similar technologies. Gross revenue for the company Q3 was recorded at Rs 5,798 crore, which was 2.9% up compared to the same in Q3 of FY24.
Housing And Urban Development Corp (HUDCO)
The HUDCO scrip ended trading on January 22 at the level of Rs 228.00, down Rs 1.43 (0.62%). The Q3 FY25 results of the PSU navratna company announced on January 23 recorded a jump of 42% in net profit, which stood at Rs 735.03 crore. In comparison it stood at Rs 519.23 crore in Q3 of FY24. Its revenue increased 37% to touch Rs 2,760 crore against Rs 2,013 crore in the same period last year. The company’s total income increased was recorded at Rs 2,770.14 crore in Q3 FY25 against Rs 2,022.94 crore in Q3 FY24.
Akums Drugs and Pharmaceuticals
The stock of Akums Drugs and Pharmaceuticals fell Rs 41.70 or 6.67% to touch Rs 583.95 on January 22, following news of Income Tax raids at its offices and manufacturing facilities. The stock began trading at Rs 626.20 (previous close Rs 626.20) and slipped 6.6% and touched an intraday low of Rs 585. The company informed abouot the Income Tax raid at its premises.
Paras Defence and Space Technologies
The stock stood at Rs 1,032.00 at the close of trade on January 22 after suffering a dip of Rs 28.20 (or 2.66%). News reports stated that Paras Defence and Space Technologies has concluded an MoU with the Maharashtra government to build an Optics Park Project in Navi Mumbai. It will help develop advancing optical technologies in India and will begin operations in 2028.
Piramal Pharma
The stock rose by Rs 1.50, or 0.62%, on January 22 and closed the day at Rs 242.65. The Critical Care division of Piramal Pharma has said that it has launched Chlorpromazine Hydrochloride injection in the US. It will be used in the treatment of a range of ailments including schizophrenia.
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Stocks in news today: Tata Communications, HUDCO, Akums Drugs, Paras Defence and Space Technologies and Piramal Pharma for various reasons. After a day of massive losses on Tuesday, the Indian stock market indices recovered on January 22. At the close of trade, Sensex 30 stood at 76,404.99 points, up 566.63 points or 0.75%, while Nifty 50 closed trading at 23,155.35 points after rising 130.70 points (or 0.57%). Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
