Gorani Ind

< -5%

Comrade

Bajaj Electric

Jaipan Inds

PG Electroplast

IFB Industries

-5% to -3%

Electronics Mar

Greenchef

TTK Prestige

Hawkins Cooker

CG Consumer

Symphony

Stove

-3% to 0%

Yuvraaj Hygiene

Singer India

Butterfly

HINDWAREAP

LG Electronics 

Whirlpool

0% to 3%

3% to 5%

Stocks in focus on Jan 22: Dr Reddys Labs, Eternal, Jindal Stainless, Bajaj Consumer, Waaree Energies, Gravita India, KEI Industries, Lemon Tree

* Stocks in focus on Jan 22: Dr Reddys Labs, Eternal, Jindal Stainless, Bajaj Consumer, Waaree Energies, Gravita India, KEI Industries, Lemon Tree

shorts/business/stocks-to-watch-today-dr-reddys-labs-eternal-jindal-stainless-bajaj-consumer-waaree-energies-gravita-india-kei-industries-lemon-tree-in-focus-on-22-january

Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, order wins, and acquisitions, here’s a quick look at which stocks will be in focus in today's trade:

<strong><a href="https://www.moneycontrol.com/markets/earnings/" target="_blank">Results Today</a></strong>

InterGlobe Aviation, Indian Bank, DLF, Bandhan Bank, Aditya Birla Sun Life AMC, Adani Energy Solutions, Adani Total Gas, Computer Age Management Services, Coforge, Cyient, IIFL Finance, Le Travenues Technology, Mphasis, Premier Energies, Radico Khaitan, Syngene International, Tanla Platforms, Ujjivan Small Finance Bank, V-Mart Retail, and Zee Entertainment Enterprises will announce their quarterly earnings today.

<strong><a href="https://www.moneycontrol.com/markets/earnings/" target="_blank">Quarterly Earnings</a></strong>

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/pharmaceuticals/drreddyslaboratories/DRL" target="_blank">Dr Reddy's Laboratories</a> Q3 (Consolidated YoY)</strong>

Profit falls 14.4% to Rs 1,209.8 crore Vs Rs 1,413.3 crore

Revenue increases 4.4% to Rs 8,726.8 crore Vs Rs 8,358.6 crore

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/online-services/eternal/Z" target="_blank">Eternal</a> Q3 (Consolidated YoY)</strong>

Profit surges 72.9% to Rs 102 crore Vs Rs 59 crore

Revenue zooms 202% to Rs 16,315 crore Vs Rs 5,405 crore

Deepinder Goyal resigns as the Director, Managing Director &amp; Chief Executive Officer of the company, effective February 1

Board appoints Deepinder Goyal as the Vice Chairman &amp; Director on the Board

Board appoints Albinder Singh Dhindsa (currently, CEO-Blinkit) as Chief Executive Officer of the company, effective February 1

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/steel-mediumsmall/jindalstainless/JSL01" target="_blank">Jindal Stainless</a> Q3 (Consolidated YoY)</strong>

Profit jumps 26.6% to Rs 828.8 crore Vs Rs 654.8 crore

Revenue grows 6.2% to Rs 10,517.6 crore Vs Rs 9,907.3 crore

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/bankindia/BOI" target="_blank">Bank of India</a> Q3 (Standalone YoY)</strong>

Profit rises 7.5% to Rs 2,704.7 crore Vs Rs 2,516.7 crore

Net interest income increases 6.4% to Rs 6,460.7 crore Vs Rs 6,070.3 crore

Provisions zoom 89.6% to Rs 576 crore Vs Rs 303.7 crore

Gross NPA falls to 2.26% Vs 2.54% (QoQ)

Net NPA declines to 0.60% Vs 0.65% (QoQ)

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/personal-care/bajajconsumercare/BC02" target="_blank">Bajaj Consumer Care</a> Q3 (Consolidated YoY)</strong>

Profit spikes 83.2% to Rs 46.4 crore Vs Rs 25.3 crore

Revenue jumps 30.6% to Rs 306 crore Vs Rs 234.4 crore

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/refineries/hindustanpetroleumcorporation/HPC" target="_blank">Hindustan Petroleum Corporation</a> Q3 (Consolidated YoY)</strong>

Profit soars 57.7% to Rs 4,011.4 crore Vs Rs 2,543.7 crore

Revenue rises 4.1% to Rs 1.15 lakh crore Vs Rs 1.1 lakh crore

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/electric-equipment/waareeenergies/WEL01" target="_blank">Waaree Energies</a> Q3 (Consolidated YoY)</strong>

Profit zooms 115.6% to Rs 1,062.5 crore Vs Rs 492.7 crore

Revenue spikes 118.8% to Rs 7,565 crore Vs Rs 3,457.3 crore

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/construction-real-estate/anantraj/ARI" target="_blank">Anant Raj</a> Q3 (Consolidated YoY)</strong>

Profit grows 30.8% to Rs 144.3 crore Vs Rs 110.3 crore

Revenue increases 20% to Rs 641.6 crore Vs Rs 534.6 crore

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/finance-housing/pnbhousingfinance/PHF" target="_blank">PNB Housing Finance</a> Q3 (Standalone YoY)</strong>

Profit rises 10.5% to Rs 521 crore Vs Rs 471.4 crore

Net interest income soars 12.8% to Rs 757 crore Vs Rs 671.2 crore

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/metals-non-ferrous/gravitaindia/GI09" target="_blank">Gravita India</a> Q3 (Consolidated YoY)</strong>

Profit jumps 25.3% to Rs 97.7 crore Vs Rs 77.9 crore

Revenue increases 2.1% to Rs 1,017.1 crore Vs Rs 996.4 crore

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/cables-powerothers/keiindustries/KEI" target="_blank">KEI Industries</a> Q3 (Consolidated YoY)</strong>

Profit zooms 42.5% to Rs 234.9 crore Vs Rs 164.8 crore

Revenue soars 19.5% to Rs 2,954.7 crore Vs Rs 2,472.3 crore

<strong>Stocks to Watch</strong>

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/pharmaceuticals/biocon/BL03" target="_blank">Biocon</a></strong>

The company has completed the acquisition of the remaining 7.18 crore equity shares of Biocon Biologics from Mylan Inc. for $200 million.

Post this acquisition, the company holds approximately a 98 percent stake in Biocon Biologics on a fully diluted basis.

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/hotel-resortrestaurants/lemontreehotels/LTH" target="_blank">Lemon Tree Hotels</a></strong>

The company has signed a licence agreement for Lemon Tree Premier, Omkareshwar, Madhya Pradesh. The 85-room hotel property will be managed by the company’s subsidiary, Carnation Hotels.

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/power-generationdistribution/cesc/CES" target="_blank">CESC</a></strong>

The company’s subsidiary, CESC Green Power, has entered into a Memorandum of Understanding (MoU) with the Uttar Pradesh government for the establishment of a 3 GW solar cell and module plant, a 60 MW solar power plant, and ancillary units, including a research and development laboratory and other infrastructure facilities in Uttar Pradesh. The proposed investment is around Rs 3,800 crore.

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/finance-leasinghire-purchase/shriramfinance/STF" target="_blank">Shriram Finance</a></strong>

Fitch Ratings has placed Shriram Finance’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) of ‘BB+’ and its Short-Term IDR of ‘B’ on Rating Watch Positive. The company’s medium-term note programme and debt ratings have also been placed on Rating Watch Positive.

The Rating Watch Positive follows an agreement under which MUFG Bank, a subsidiary of Mitsubishi UFJ Financial Group, Inc., will acquire a 20 percent stake in Shriram Finance.

<strong>Bulk Deals</strong>

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/steel-mediumsmall/ramasteeltubes/RST" target="_blank">Rama Steel Tubes</a>, <a href="https://www.moneycontrol.com/india/stockpricequote/telecommunications-equipment/valiantcommunications/VC01" target="_blank">Valiant Communications</a></strong>

Ace investor Shankar Sharma sold 1 crore equity shares in Rama Steel Tubes at Rs 7.65 per share. However, he bought 59,100 shares in Valiant Communications at Rs 773.72 per share.

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/consumer-food/restaurantbrandsasia/BKI01" target="_blank">Restaurant Brands Asia</a></strong>

238 Plan Associates LLC sold 33.88 lakh shares in Restaurant Brands Asia, while the Massachusetts Institute of Technology offloaded 1.17 crore shares, both at Rs 63.31 per share.

<strong>Block Deals</strong>

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/power-generationdistribution/adanigreenenergylimited/ADANI54145" target="_blank">Adani Green Energy</a></strong>

Goldman Sachs Bank Europe SE bought 10 lakh shares in Adani Green Energy at Rs 883.30 per share, while Societe Generale purchased 5.49 lakh shares at Rs 879.50 per share from BNP Paribas Financial Markets.

<strong><a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/rblbank/RB03" target="_blank">RBL Bank</a></strong>

BOFA Securities Europe SA acquired 60 lakh shares in RBL Bank at Rs 296 per share from BNP Paribas Financial Markets.

<strong>SME Listing</strong>

Armour Security India

<strong>Stock Trades Ex-Dividend</strong>

D B Corp

<strong>Stock Trades Ex-Date for Split</strong>

United Van Der Horst

<strong>Stocks in F&amp;O ban</strong>

Bandhan Bank
Sammaan Capital

<strong>Stock out of F&amp;O ban</strong>

SAIL

Ownership, Material Conflicts of Interest and Disciplinary History

MCD is a wholly owned subsidiary of Network 18 Media & Investments Ltd ("Network18"), in which Independent Media Trust (IMT) holds 56.89% stake. Reliance Industries Limited ("RIL") is the sole beneficiary of IMT. Network18 and RIL and their subsidiaries, joint ventures and associates can be considered as associates of MCD.

Details of Associate

Receipt of Compensation

Third-Party Compensation

Employment History

Market-Making Activities

Use of Artificial Intelligence

Stocks to Watch Today: Dr Reddys Labs, Eternal, Jindal Stainless, Bajaj Consumer, Waaree Energies, Gravita India, KEI Industries, Lemon Tree in focus on 22 January

Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, order wins, and acquisitions, here’s a quick look at which stocks will be in focus in today's trade:

Results Today

InterGlobe Aviation, Indian Bank, DLF, Bandhan Bank, Aditya Birla Sun Life AMC, Adani Energy Solutions, Adani Total Gas, Computer Age Management Services, Coforge, Cyient, IIFL Finance, Le Travenues Technology, Mphasis, Premier Energies, Radico Khaitan, Syngene International, Tanla Platforms, Ujjivan Small Finance Bank, V-Mart Retail, and Zee Entertainment Enterprises will announce their quarterly earnings today.

Quarterly Earnings

Dr Reddy's Laboratories Q3 (Consolidated YoY)

Profit falls 14.4% to Rs 1,209.8 crore Vs Rs 1,413.3 crore

Revenue increases 4.4% to Rs 8,726.8 crore Vs Rs 8,358.6 crore

Eternal Q3 (Consolidated YoY)

Profit surges 72.9% to Rs 102 crore Vs Rs 59 crore

Revenue zooms 202% to Rs 16,315 crore Vs Rs 5,405 crore

Deepinder Goyal resigns as the Director, Managing Director &amp;amp; Chief Executive Officer of the company, effective February 1

Board appoints Deepinder Goyal as the Vice Chairman &amp;amp; Director on the Board

Board appoints Albinder Singh Dhindsa (currently, CEO-Blinkit) as Chief Executive Officer of the company, effective February 1

Jindal Stainless Q3 (Consolidated YoY)

Profit jumps 26.6% to Rs 828.8 crore Vs Rs 654.8 crore

Revenue grows 6.2% to Rs 10,517.6 crore Vs Rs 9,907.3 crore

Bank of India Q3 (Standalone YoY)

Profit rises 7.5% to Rs 2,704.7 crore Vs Rs 2,516.7 crore

Net interest income increases 6.4% to Rs 6,460.7 crore Vs Rs 6,070.3 crore

Provisions zoom 89.6% to Rs 576 crore Vs Rs 303.7 crore

Gross NPA falls to 2.26% Vs 2.54% (QoQ)

Net NPA declines to 0.60% Vs 0.65% (QoQ)

Bajaj Consumer Care Q3 (Consolidated YoY)

Profit spikes 83.2% to Rs 46.4 crore Vs Rs 25.3 crore

Revenue jumps 30.6% to Rs 306 crore Vs Rs 234.4 crore

Hindustan Petroleum Corporation Q3 (Consolidated YoY)

Profit soars 57.7% to Rs 4,011.4 crore Vs Rs 2,543.7 crore

Revenue rises 4.1% to Rs 1.15 lakh crore Vs Rs 1.1 lakh crore

Waaree Energies Q3 (Consolidated YoY)

Profit zooms 115.6% to Rs 1,062.5 crore Vs Rs 492.7 crore

Revenue spikes 118.8% to Rs 7,565 crore Vs Rs 3,457.3 crore

Anant Raj Q3 (Consolidated YoY)

Profit grows 30.8% to Rs 144.3 crore Vs Rs 110.3 crore

Revenue increases 20% to Rs 641.6 crore Vs Rs 534.6 crore

PNB Housing Finance Q3 (Standalone YoY)

Profit rises 10.5% to Rs 521 crore Vs Rs 471.4 crore

Net interest income soars 12.8% to Rs 757 crore Vs Rs 671.2 crore

Gravita India Q3 (Consolidated YoY)

Profit jumps 25.3% to Rs 97.7 crore Vs Rs 77.9 crore

Revenue increases 2.1% to Rs 1,017.1 crore Vs Rs 996.4 crore

KEI Industries Q3 (Consolidated YoY)

Profit zooms 42.5% to Rs 234.9 crore Vs Rs 164.8 crore

Revenue soars 19.5% to Rs 2,954.7 crore Vs Rs 2,472.3 crore

Stocks to Watch

Biocon

The company has completed the acquisition of the remaining 7.18 crore equity shares of Biocon Biologics from Mylan Inc. for $200 million.

Post this acquisition, the company holds approximately a 98 percent stake in Biocon Biologics on a fully diluted basis.

Lemon Tree Hotels

The company has signed a licence agreement for Lemon Tree Premier, Omkareshwar, Madhya Pradesh. The 85-room hotel property will be managed by the company’s subsidiary, Carnation Hotels.

CESC

The company’s subsidiary, CESC Green Power, has entered into a Memorandum of Understanding (MoU) with the Uttar Pradesh government for the establishment of a 3 GW solar cell and module plant, a 60 MW solar power plant, and ancillary units, including a research and development laboratory and other infrastructure facilities in Uttar Pradesh. The proposed investment is around Rs 3,800 crore.

Shriram Finance

Fitch Ratings has placed Shriram Finance’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) of ‘BB+’ and its Short-Term IDR of ‘B’ on Rating Watch Positive. The company’s medium-term note programme and debt ratings have also been placed on Rating Watch Positive.

The Rating Watch Positive follows an agreement under which MUFG Bank, a subsidiary of Mitsubishi UFJ Financial Group, Inc., will acquire a 20 percent stake in Shriram Finance.

Bulk Deals

Rama Steel Tubes, Valiant Communications

Ace investor Shankar Sharma sold 1 crore equity shares in Rama Steel Tubes at Rs 7.65 per share. However, he bought 59,100 shares in Valiant Communications at Rs 773.72 per share.

Restaurant Brands Asia

238 Plan Associates LLC sold 33.88 lakh shares in Restaurant Brands Asia, while the Massachusetts Institute of Technology offloaded 1.17 crore shares, both at Rs 63.31 per share.

Block Deals

Adani Green Energy

Goldman Sachs Bank Europe SE bought 10 lakh shares in Adani Green Energy at Rs 883.30 per share, while Societe Generale purchased 5.49 lakh shares at Rs 879.50 per share from BNP Paribas Financial Markets.

RBL Bank

BOFA Securities Europe SA acquired 60 lakh shares in RBL Bank at Rs 296 per share from BNP Paribas Financial Markets.

SME Listing

Armour Security India

Stock Trades Ex-Dividend

D B Corp

Stock Trades Ex-Date for Split

United Van Der Horst

Stocks in F&amp;amp;O ban

Bandhan Bank
Sammaan Capital

Stock out of F&amp;amp;O ban

SAIL

Sensex and Nifty fell sharply this week ahead of the Union Budget on February 1, Defence, affordable housing, and infrastructure sectors seen as attractive picks, Analysts recommend patience, quality stocks during pre-Budget market volatility.

* Sensex and Nifty fell sharply this week ahead of the Union Budget on February 1
* Defence, affordable housing, and infrastructure sectors seen as attractive picks
* Analysts recommend patience, quality stocks during pre-Budget market volatility.

Sensex and Nifty have plunged sharply ahead of the Union Budget, driven by sentiment rather than fundamentals. Analysts see value in defence, affordable housing, FMCG, healthcare, and PSU banks, advising patience and caution amid pre-Budget market volatility.

shorts/business/amid-pre-budget-market-sell-off-where-are-the-pockets-of-value-for-investors-here-s-what-analysts-say

* Sensex and Nifty fell sharply this week ahead of the Union Budget on February 1
* Defence, affordable housing, and infrastructure sectors seen as attractive picks
* Analysts recommend patience, quality stocks during pre-Budget market volatility.

Markets have seen significant decline over three consecutive sessions, with Sensex crashing nearly 2,500 points this week so far. Analysts have highlighted which sectors seem attractive at this point of time, ahead of Union Budget on February 1.

<a href="https://www.moneycontrol.com/indian-indices/SENSEX-4.html">Sensex</a> plunged more than 1,056 points (nearly 1.3 percent) to hit an intraday low of 81,124.45 on January 21, before seeing a sharp recovery to briefly move into the green and then falling again.

<a href="https://www.moneycontrol.com/indian-indices/nifty-50-9.html">Nifty 50</a> meanwhile fell 313 points (over 1.2 percent) to its day's low of 24,919.8 on Wednesday, which marks a decline of 775 points (more than 3 percent) this week so far. However, after falling below the crucial 25,000-level, the index sharply rebounded before slipping into the deep red again.

All the major sectoral indices were in red, with consumer durables, banks and IT leading losses. Broader markets were also in deep red, with smallcap and midcap indices underperforming benchmarks.

India's volatility index jumped to 14.43, highest since June, signaling increased market stress. The sharp uptick in volatility highlights elevated intraday swings and fragile sentiment, as reflected in a weak advance-decline ratio, said SAMCO Securities.
<h3><strong>What to expect from Budget?</strong></h3>
Citi prefers themes of defence and affordable housing before Finance Minister Nirmala Sitharaman presents Union Budget 2026 on February 1. Citi Research expects Union Budget for fiscal year 2027 to offer limited support for consumption and to stay anchored on targeted priorities such as affordable housing and health insurance

It sees the government maintaining a strong tilt toward public capital expenditure, with spending budgeted above nominal GDP growth and led by defence outlays. It added that fiscal consolidation must continue even as options to raise tax revenues narrow after major cuts to corporate tax, personal income tax, and the GST regime.
<h3><strong>Is pre-Budget market crash reason to worry?</strong></h3>
Markets are correcting ahead of the Budget largely due to global geopolitical uncertainty and risk-off sentiment, not because Indian businesses are fundamentally weak, said Tushar Badjate, Director of Badjate Stock &amp; Share. He added that corporate balance sheets are stable, earnings are largely intact, and India continues to remain one of the strongest growth stories globally.

The start of 2026 has been turbulent following complex interplay between global trade uncertainties, aggressive foreign institutional investor (FII) outflows, and the proximity of the Union Budget, said Balaji Rao Mudili, Research Analyst at Bonanza. He added that the primary catalyst for this divergence is the looming threat of US-led trade tariffs following tensions surrounding the proposed Greenland policy and the subsequent threat of tariffs on multiple European and emerging market counterparts which is testing the traditional "buy the dip" mentality. The uncertainty surrounding India-US trade negotiations and depreciating rupee has been other factors adding fuel to the fire.

Pre-Budget sell-offs tend to be driven more by uncertainty than by a sudden deterioration in fundamentals, and that often creates selective value opportunities, said Anirudh Garg, Partner and Fund Manager, INVasset PMS.

“India’s underlying growth, corporate balance sheets and earnings visibility remain intact. For value investors, this correction is throwing up selective opportunities rather than reasons to panic,” he said.
<h3><strong>Which sectors looks attractive now?</strong></h3>
Ahead of the Budget, Citi Research flags defence as a preferred theme. It named <a href="https://www.moneycontrol.com/india/stockpricequote/aerospacedefence/bharatelectronics/BE03">Bharat Electronics</a> (BEL) as a top pick. It also favours affordable housing plays such as <a href="https://www.moneycontrol.com/india/stockpricequote/finance-general/aavasfinanciers/AF17">Aavas Financiers</a> and <a href="https://www.moneycontrol.com/india/stockpricequote/finance-housing/aadharhousingfinance/AHFL">Aadhar Housing Finance</a>.

Citi says domestic manufacturing competitiveness could improve if the government overhauls the customs duty architecture. It added that any tweaks to buyback or dividend taxation, or to the STT and capital gains regime, would directly move capital markets and remain key monitorables.

The market volatility preceding the budget has unlocked some pockets of value for a long-term investor, said Pranav Koomar, Founder and CEO of PlusCash. Defensive areas like FMCG, healthcare, quality large-cap financial stocks, and some PSU banks look attractive on valuations, the analyst said.

He added that capex-linked spaces like infrastructure, defence, and the railway sector will continue to get government outlays, which could be a trigger.

In such phases, value investors are better served looking at businesses where earnings visibility remains intact but valuations have corrected due to broader risk aversion, Garg said. He added that rather than choosing between defensives or cyclicals in a binary manner, the focus should be on balance-sheet strength, pricing power, and cash-flow durability.

“Traditionally defensive pockets do provide relative stability during volatility, but several economically sensitive areas are also beginning to look attractive after meaningful price corrections, especially where order visibility or domestic demand drivers remain strong. What the market is penalising most right now are stocks that were priced for perfection. As history shows, pre-Budget corrections often reward investors who accumulate gradually, avoid leverage, and stay aligned to companies with sustainable earnings rather than reacting to short-term sentiment swings,” Garg said.

Badjate, meanwhile, said that history suggests that during periods of heightened volatility, metals, mining, oil &amp; gas and select PSU stocks tend to outperform as they offer relative stability and act as a hedge against sharp drawdowns in small and mid-cap segments.

While defensives (FMCG, pharma, etc) offer a valuation safety net, the primary engines of India's GDP growth are expected to be banking (BFSI) and manufacturing, said Balaji Rao Mudili, Research Analyst at Bonanza.

"In manufacturing, defence sector can be focused due to higher allocation expectation in the budget following need of increasing security on the borders and a push towards indigenization efforts i.e. creating import substitution and promote Make in India initiatives. Additionally, global headwinds leading to war like situations can benefit defence stocks," he added.

Currently, "defensives" like pharma and healthcare offer a margin of safety, while the IT sector gains traction due to attractive valuations and AI-driven growth, said Sanchita Mukherji, Managing Partner, Talk The Walk LLP.

"Simultaneously, value is emerging in policy-driven sectors like Infrastructure, Railways, and Renewable Energy, where long-term government capex remains a structural tailwind. Rather than chasing momentum, investors may educate themselves on quality large-caps and sectors with high earnings visibility, as these "pockets of value" typically lead the recovery once the event risk subsides," she added.
<h3><strong>What should investors do?</strong></h3>
In such uncertain phases, investors should avoid panic selling, except in illiquid, loss-making or very small microcap stocks, Badjate said.

"Commodities can be added cautiously with a long-term view, avoiding aggressive positioning. For investors unsure about direct stock selection, ETFs provide a sensible way to gain exposure. This is a phase to stay disciplined, not emotional," the analyst concluded.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-flat-opening-us-asian-markets-slip-liveblog-13782376.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Amid pre-Budget market sell-off, where are the pockets of value for investors? Here's what analysts say

Markets have seen significant decline over three consecutive sessions, with Sensex crashing nearly 2,500 points this week so far. Analysts have highlighted which sectors seem attractive at this point of time, ahead of Union Budget on February 1.

Sensex plunged more than 1,056 points (nearly 1.3 percent) to hit an intraday low of 81,124.45 on January 21, before seeing a sharp recovery to briefly move into the green and then falling again.

Nifty 50 meanwhile fell 313 points (over 1.2 percent) to its day's low of 24,919.8 on Wednesday, which marks a decline of 775 points (more than 3 percent) this week so far. However, after falling below the crucial 25,000-level, the index sharply rebounded before slipping into the deep red again.

All the major sectoral indices were in red, with consumer durables, banks and IT leading losses. Broader markets were also in deep red, with smallcap and midcap indices underperforming benchmarks.

India's volatility index jumped to 14.43, highest since June, signaling increased market stress. The sharp uptick in volatility highlights elevated intraday swings and fragile sentiment, as reflected in a weak advance-decline ratio, said SAMCO Securities.
What to expect from Budget?
Citi prefers themes of defence and affordable housing before Finance Minister Nirmala Sitharaman presents Union Budget 2026 on February 1. Citi Research expects Union Budget for fiscal year 2027 to offer limited support for consumption and to stay anchored on targeted priorities such as affordable housing and health insurance

It sees the government maintaining a strong tilt toward public capital expenditure, with spending budgeted above nominal GDP growth and led by defence outlays. It added that fiscal consolidation must continue even as options to raise tax revenues narrow after major cuts to corporate tax, personal income tax, and the GST regime.
Is pre-Budget market crash reason to worry?
Markets are correcting ahead of the Budget largely due to global geopolitical uncertainty and risk-off sentiment, not because Indian businesses are fundamentally weak, said Tushar Badjate, Director of Badjate Stock &amp;amp; Share. He added that corporate balance sheets are stable, earnings are largely intact, and India continues to remain one of the strongest growth stories globally.

The start of 2026 has been turbulent following complex interplay between global trade uncertainties, aggressive foreign institutional investor (FII) outflows, and the proximity of the Union Budget, said Balaji Rao Mudili, Research Analyst at Bonanza. He added that the primary catalyst for this divergence is the looming threat of US-led trade tariffs following tensions surrounding the proposed Greenland policy and the subsequent threat of tariffs on multiple European and emerging market counterparts which is testing the traditional &quot;buy the dip&quot; mentality. The uncertainty surrounding India-US trade negotiations and depreciating rupee has been other factors adding fuel to the fire.

Pre-Budget sell-offs tend to be driven more by uncertainty than by a sudden deterioration in fundamentals, and that often creates selective value opportunities, said Anirudh Garg, Partner and Fund Manager, INVasset PMS.

“India’s underlying growth, corporate balance sheets and earnings visibility remain intact. For value investors, this correction is throwing up selective opportunities rather than reasons to panic,” he said.
Which sectors looks attractive now?
Ahead of the Budget, Citi Research flags defence as a preferred theme. It named Bharat Electronics (BEL) as a top pick. It also favours affordable housing plays such as Aavas Financiers and Aadhar Housing Finance.

Citi says domestic manufacturing competitiveness could improve if the government overhauls the customs duty architecture. It added that any tweaks to buyback or dividend taxation, or to the STT and capital gains regime, would directly move capital markets and remain key monitorables.

The market volatility preceding the budget has unlocked some pockets of value for a long-term investor, said Pranav Koomar, Founder and CEO of PlusCash. Defensive areas like FMCG, healthcare, quality large-cap financial stocks, and some PSU banks look attractive on valuations, the analyst said.

He added that capex-linked spaces like infrastructure, defence, and the railway sector will continue to get government outlays, which could be a trigger.

In such phases, value investors are better served looking at businesses where earnings visibility remains intact but valuations have corrected due to broader risk aversion, Garg said. He added that rather than choosing between defensives or cyclicals in a binary manner, the focus should be on balance-sheet strength, pricing power, and cash-flow durability.

“Traditionally defensive pockets do provide relative stability during volatility, but several economically sensitive areas are also beginning to look attractive after meaningful price corrections, especially where order visibility or domestic demand drivers remain strong. What the market is penalising most right now are stocks that were priced for perfection. As history shows, pre-Budget corrections often reward investors who accumulate gradually, avoid leverage, and stay aligned to companies with sustainable earnings rather than reacting to short-term sentiment swings,” Garg said.

Badjate, meanwhile, said that history suggests that during periods of heightened volatility, metals, mining, oil &amp;amp; gas and select PSU stocks tend to outperform as they offer relative stability and act as a hedge against sharp drawdowns in small and mid-cap segments.

While defensives (FMCG, pharma, etc) offer a valuation safety net, the primary engines of India's GDP growth are expected to be banking (BFSI) and manufacturing, said Balaji Rao Mudili, Research Analyst at Bonanza.

&quot;In manufacturing, defence sector can be focused due to higher allocation expectation in the budget following need of increasing security on the borders and a push towards indigenization efforts i.e. creating import substitution and promote Make in India initiatives. Additionally, global headwinds leading to war like situations can benefit defence stocks,&quot; he added.

Currently, &quot;defensives&quot; like pharma and healthcare offer a margin of safety, while the IT sector gains traction due to attractive valuations and AI-driven growth, said Sanchita Mukherji, Managing Partner, Talk The Walk LLP.

&quot;Simultaneously, value is emerging in policy-driven sectors like Infrastructure, Railways, and Renewable Energy, where long-term government capex remains a structural tailwind. Rather than chasing momentum, investors may educate themselves on quality large-caps and sectors with high earnings visibility, as these &quot;pockets of value&quot; typically lead the recovery once the event risk subsides,&quot; she added.
What should investors do?
In such uncertain phases, investors should avoid panic selling, except in illiquid, loss-making or very small microcap stocks, Badjate said.

&quot;Commodities can be added cautiously with a long-term view, avoiding aggressive positioning. For investors unsure about direct stock selection, ETFs provide a sensible way to gain exposure. This is a phase to stay disciplined, not emotional,&quot; the analyst concluded.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Gold and silver ETFs hit lifetime highs amid global tensions and trade war fears, Analysts foresee long-term gains but warn of short-term import duty risks., Experts suggest investing up to 10% of portfolio in precious metals for diversification.

* Gold and silver ETFs hit lifetime highs amid global tensions and trade war fears
* Analysts foresee long-term gains but warn of short-term import duty risks.
* Experts suggest investing up to 10% of portfolio in precious metals for diversification.

Gold and silver ETFs hit record highs amid global tensions over Trump’s Greenland annexation plans and threatened US tariffs on Europe. Analysts expect the bullish trend to continue, advising investors to allocate up to 10% of portfolios to precious metals.

shorts/business/gold-silver-etfs-surge-up-to-8-to-fresh-record-highs-as-precious-metals-extend-bull-run-what-lies-ahead

* Gold and silver ETFs hit lifetime highs amid global tensions and trade war fears
* Analysts foresee long-term gains but warn of short-term import duty risks.
* Experts suggest investing up to 10% of portfolio in precious metals for diversification.

Gold and silver exchange traded funds (ETFs) continued to mirror the sharp surge in the precious metals, and hit fresh lifetime highs on January 21. Market analysts have commented on what lies ahead for the precious metal after the record bull run, and what investors should do now.

Gold and silver prices hit fresh lifetime highs today, as tensions between US and EU heightened over President Donald Trump’s constant threats to annex Greenland and tariff flipflops.
<h3><strong>Gold ETFs:</strong></h3>
Gold futures with February expiry jumped more than 5 percent to cross the Rs 1.58 lakh per 10 grams mark. The futures contracts with April and June expiries meanwhile gained 5 percent and 6 percent respectively to hit fresh all-time highs of Rs 1,66,048 per 10 grams and Rs 1,71,620 per 10 grams, respectively.

<a href="https://www.moneycontrol.com/india/stockpricequote/gold-etf/invescoindiagoldexchangetradedfund/RGE">Invesco India Gold ETF</a> surged nearly 8 percent to hit a fresh 52-week high of Rs 13,900 apiece. ICICI Pru Gold ETF, <a href="https://www.moneycontrol.com/india/stockpricequote/gold-etf/licmfgoldexchangetradedfund/IDB01">LIC Gold ETF</a>, Motilal Oswal Gold ETF, Edelweiss Gold ETF and <a href="https://www.moneycontrol.com/india/stockpricequote/gold-etf/axismutualfund-goldetf/AMF02">Axis Gold ETF</a> meanwhile gained more than 7 percent each.

BNP Paribas Gold ETF, Groww Gold ETF, Tata Gold ETF, Quantun Gold ETF and Kotak Gold ETF gained nearly 7 percent each, while Angel One Gold ETF, Zerodha Gold ETF, Aditya Birla Gold ETF and DSP Gold ETF gained more than 6 percent each.

Union Gold ETF, HDFC Gold ETF, SBI Gold ETF, Nippon Gold ETF (Goldbees) and Mirae Asset Gold ETF jumped more than 5 percent each, while Choice Gold ETF, UTI Gold ETF and others gained nearly 5 percent.
<h3><strong>Silver ETF:</strong></h3>
Silver futures with March expiry jumped around 3.5 percent to cross the Rs 3.3 lakh per kilogram-mark for the first time ever. The futures with May and July expiries meanwhile rose 4 percent and 5 percent to Rs 3.47 lakh per kilogram and Rs 3.61 lakh per kilogram.

<a href="https://www.moneycontrol.com/india/stockpricequote/etf/tatasilveretf/TATSI21428">Tata Silver ETF</a> gained around 7 percent to hit a fresh 52-week high of Rs 33.50 apiece. Aditya Birla Silver ETF and Mirae Asset Silver ETF gained around 5 percent each.

Axis Silver ETF and <a href="https://www.moneycontrol.com/india/stockpricequote/etf/nipponindiasilveretf/NIS01">Nippon Silver ETF</a> (Silverbees) climbed nearly 4 percent each, while Zerodha Silver ETF, ICICI Pru Silver ETF, DSP Silver ETF, Edelweiss Silver ETF and UTI Silver ETF gained more than 3 percent each.

There is risk-off sentiment in global markets now in response to Trump’s Greenland policy, the threatened tariffs on eight European countries and Europe’s hardening anti-Trump stance, said VK Vijayakumar, Chief Investment Strategist, Geojit Investments.

The analyst added that globally stock markets are down and the flight to the safety of gold is up. “There is no clarity on how the situation will evolve. If the threatened tariffs come into effect, Europe will retaliate and this will lead to a trade war with bad consequences for global trade and global growth. If such a scenario plays out stock markets will witness further selling. On the other hand, if Trump chickens out as he had done in the past, or succumbs to pressure, markets will rebound. A combined and united Europe has many options like the much talked about ‘Sell America’ wherein they sell US treasuries leading to sharp fall in dollar. This will hurt Trump. Public opinion in US is also against Trump’s Greenland annexation plan. Many unexpected developments can happen and the market is likely to react strongly to the developments,” he said.

"Trump's 'disruptive' policy approach to international affairs and desire to see lower interest rates suit precious metals very well, ⁠as reflected by gold and silver's rampant run," Reuters quoted Tim Waterer, KCM Trade's chief ‍market analyst, as saying.
<h3><strong>What lies ahead?</strong></h3>
Based on the fundamentals and technical setup, gold and silver's long-term bullish trend seems intact and still has the potential to deliver extraordinary returns in year 2026, said HDFC Securities. The domestic brokerage however added that in case the government reduces import duties on gold and silver in the upcoming budget, domestic prices could come under pressure and act as a short-term headwind for domestic prices.

HDFC Securities listed out SBI Gold ETF and HDFC Gold ETF as its top picks, and advised investors to allocate 10 percent of their portfolio to precious metals with the option to increase exposure based on individual risk appetite gradually.

"Gold and silver can play a meaningful role in portfolio diversification, but the way investors access these assets matters. Physical metal often brings uncertainties around purity, making charges, storage, and resale, while ETFs require demat accounts that many investors still do not use. The Fund of Fund (FoF) structure removes barriers such as demat requirements, lowers the entry point to ₹1,000, and enables disciplined investing through SIPs starting at ₹100," said Vishal Kapoor, CEO of Bandhan AMC.

"Gold and silver have climbed to record highs as global tensions continue to mount. Markets have been unsettled by Donald Trump’s renewed push to acquire Greenland, alongside U.S. plans to impose tariffs of 10% from February 1 on eight European countries including France, Germany, and the UK, with the threat of rates rising to 25% by June," said NS Ramaswamy, Head of Commodity &amp; CRM, Ventura.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-flat-opening-us-asian-markets-slip-liveblog-13782376.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Gold, silver ETFs surge up to 8% to fresh record highs as precious metals extend bull run: What lies ahead?

Gold and silver exchange traded funds (ETFs) continued to mirror the sharp surge in the precious metals, and hit fresh lifetime highs on January 21. Market analysts have commented on what lies ahead for the precious metal after the record bull run, and what investors should do now.

Gold and silver prices hit fresh lifetime highs today, as tensions between US and EU heightened over President Donald Trump’s constant threats to annex Greenland and tariff flipflops.
Gold ETFs:
Gold futures with February expiry jumped more than 5 percent to cross the Rs 1.58 lakh per 10 grams mark. The futures contracts with April and June expiries meanwhile gained 5 percent and 6 percent respectively to hit fresh all-time highs of Rs 1,66,048 per 10 grams and Rs 1,71,620 per 10 grams, respectively.

Invesco India Gold ETF surged nearly 8 percent to hit a fresh 52-week high of Rs 13,900 apiece. ICICI Pru Gold ETF, LIC Gold ETF, Motilal Oswal Gold ETF, Edelweiss Gold ETF and Axis Gold ETF meanwhile gained more than 7 percent each.

BNP Paribas Gold ETF, Groww Gold ETF, Tata Gold ETF, Quantun Gold ETF and Kotak Gold ETF gained nearly 7 percent each, while Angel One Gold ETF, Zerodha Gold ETF, Aditya Birla Gold ETF and DSP Gold ETF gained more than 6 percent each.

Union Gold ETF, HDFC Gold ETF, SBI Gold ETF, Nippon Gold ETF (Goldbees) and Mirae Asset Gold ETF jumped more than 5 percent each, while Choice Gold ETF, UTI Gold ETF and others gained nearly 5 percent.
Silver ETF:
Silver futures with March expiry jumped around 3.5 percent to cross the Rs 3.3 lakh per kilogram-mark for the first time ever. The futures with May and July expiries meanwhile rose 4 percent and 5 percent to Rs 3.47 lakh per kilogram and Rs 3.61 lakh per kilogram.

Tata Silver ETF gained around 7 percent to hit a fresh 52-week high of Rs 33.50 apiece. Aditya Birla Silver ETF and Mirae Asset Silver ETF gained around 5 percent each.

Axis Silver ETF and Nippon Silver ETF (Silverbees) climbed nearly 4 percent each, while Zerodha Silver ETF, ICICI Pru Silver ETF, DSP Silver ETF, Edelweiss Silver ETF and UTI Silver ETF gained more than 3 percent each.

There is risk-off sentiment in global markets now in response to Trump’s Greenland policy, the threatened tariffs on eight European countries and Europe’s hardening anti-Trump stance, said VK Vijayakumar, Chief Investment Strategist, Geojit Investments.

The analyst added that globally stock markets are down and the flight to the safety of gold is up. “There is no clarity on how the situation will evolve. If the threatened tariffs come into effect, Europe will retaliate and this will lead to a trade war with bad consequences for global trade and global growth. If such a scenario plays out stock markets will witness further selling. On the other hand, if Trump chickens out as he had done in the past, or succumbs to pressure, markets will rebound. A combined and united Europe has many options like the much talked about ‘Sell America’ wherein they sell US treasuries leading to sharp fall in dollar. This will hurt Trump. Public opinion in US is also against Trump’s Greenland annexation plan. Many unexpected developments can happen and the market is likely to react strongly to the developments,” he said.

&quot;Trump's 'disruptive' policy approach to international affairs and desire to see lower interest rates suit precious metals very well, ⁠as reflected by gold and silver's rampant run,&quot; Reuters quoted Tim Waterer, KCM Trade's chief ‍market analyst, as saying.
What lies ahead?
Based on the fundamentals and technical setup, gold and silver's long-term bullish trend seems intact and still has the potential to deliver extraordinary returns in year 2026, said HDFC Securities. The domestic brokerage however added that in case the government reduces import duties on gold and silver in the upcoming budget, domestic prices could come under pressure and act as a short-term headwind for domestic prices.

HDFC Securities listed out SBI Gold ETF and HDFC Gold ETF as its top picks, and advised investors to allocate 10 percent of their portfolio to precious metals with the option to increase exposure based on individual risk appetite gradually.

&quot;Gold and silver can play a meaningful role in portfolio diversification, but the way investors access these assets matters. Physical metal often brings uncertainties around purity, making charges, storage, and resale, while ETFs require demat accounts that many investors still do not use. The Fund of Fund (FoF) structure removes barriers such as demat requirements, lowers the entry point to ₹1,000, and enables disciplined investing through SIPs starting at ₹100,&quot; said Vishal Kapoor, CEO of Bandhan AMC.

&quot;Gold and silver have climbed to record highs as global tensions continue to mount. Markets have been unsettled by Donald Trump’s renewed push to acquire Greenland, alongside U.S. plans to impose tariffs of 10% from February 1 on eight European countries including France, Germany, and the UK, with the threat of rates rising to 25% by June,&quot; said NS Ramaswamy, Head of Commodity &amp;amp; CRM, Ventura.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Persistent Systems shares drop 4% post Q3 results; net profit up 18% YoY, down 7% QoQ, SRF shares dropped 5% to a nine-month low; Q3 net profit rose 60% YoY, Brokerages raise target prices for Persistent Systems, remain optimistic despite concerns.

* Persistent Systems shares drop 4% post Q3 results; net profit up 18% YoY, down 7% QoQ
* SRF shares dropped 5% to a nine-month low; Q3 net profit rose 60% YoY
* Brokerages raise target prices for Persistent Systems, remain optimistic despite concerns.

Persistent Systems shares fell over 4% after Q3 results showed an 18% YoY profit rise but a 7% QoQ drop; brokerages remain optimistic. SRF shares dropped 5% despite a 60% YoY profit jump, with UBS citing growth constraints due to market pressures.

shorts/business/q3-results-impact-persistent-systems-shares-fall-4-despite-q3-net-profit-rise-srf-tumbles-5-to-nine-month-low

* Persistent Systems shares drop 4% post Q3 results; net profit up 18% YoY, down 7% QoQ
* SRF shares dropped 5% to a nine-month low; Q3 net profit rose 60% YoY
* Brokerages raise target prices for Persistent Systems, remain optimistic despite concerns.

The shares of Persistent Systems dropped more than 4 percent to a near six-week low on January 21 after the company released its results for the October-December quarter of the financial year 2026. Some brokerages remained optimistic and increased their target prices for the stock, while some cited valuation concerns.

SRF shares meanwhile tumbled more than 5 percent to trade at a nine-month low of Rs 2,730.10 apiece. Both these companies had released their results in the post-market hours of January 20.
<h3><strong>Persistent Systems Q3 Results:</strong></h3>
<a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/persistentsystems/PS15">Persistent Systems</a> reported a consolidated net profit of Rs 439.45 crore for Q3 FY26. This marks an 18 percent year-on-year (YoY) increase from the Rs 372.99 crore net profit reported in Q3 FY25, but 7 percent quarter-on-quarter (QoQ) decline from Rs 471.47 crore reported in Q2 FY26.

The net profit reported in the third quarter of the ongoing financial year 2026 however includes 1.8 percent one-time impact due to the new labour codes.

The firm’s revenue from operations rose 23 percent YoY to Rs 3,778.2 crore during the quarter under review. “We are also applying Agentic AI within our own operations, as a ‘customer zero’ to improve productivity and speed adoption at scale, an approach further validated by our recognition as a Microsoft Frontier Firm. As we move ahead, our priority remains sustaining growth through consistent execution as demand continues to shift toward larger, more complex engagements,” said Persistent’s CEO Sandeep Kalra.

Along with the Q3 results, Persistent Systems announced an interim dividend of Rs 22 per share for the financial year 2026. The record date to determine the eligibility of the shareholders set to receive the payment has been set at January 27.
<h3><strong>JM Financial on Persistent Systems:</strong></h3>
JM Financial maintained its ‘Buy’ rating on the stock, and increased its target price to Rs 7,600 per share. This implies an upside potential of nearly 20 percent from the stock’s previous closing price.

The domestic brokerage said that the firm reported yet another strong quarter in Q3, with revenue meeting elevated expectations. It added that margins beat expectations materially. “PSYS continues to have a competitive edge and is benefitting from AI-led modernization, adoption and data readiness led demand. Its head start with platforms/tools such as SASVA and iAURA, alongside internal AI-led productivity efforts allows it to present a compelling value proposition on cost and speed of delivery to clients, driving deal momentum in our view,” JM Financial said.
<h3><strong>Choice Institutional Equities on Persistent Systems:</strong></h3>
Choice Institutional Equities increased its target price for the stock to Rs 7,000 per share, while maintaining its ‘Add’ rating. This implies an upside potential of more than 10 percent from the stock’s previous closing price.

“Despite ongoing macro uncertainty, the company has sustained consistent execution, led by its strengthening product engineering capabilities…enhancing its competitive positioning in enterprise AI,” it said.
<h3><strong>HSBC on Persistent Systems:</strong></h3>
HSBC held a ‘Hold’ call for the stock with a target price of Rs 6,560 per share, which implies an upside potential of more than 3 percent from the stock’s previous closing price.

The international brokerage reported strong growth in Q3 with further improvement in profitability, the firm said. However, it noted that the market expectations seem to be fully priced in the valuation.
<h3><strong>Nomura on Persistent Systems:</strong></h3>
Nomura held a ‘Neutral’ call for the stock, with a target price of Rs 6,100 per share. The international brokerage said that the IT company’s growth was in-line with estimates, and margin beat expectations in Q3 FY26.
<h3><strong>SRF Q3 Results:</strong></h3>
<a href="https://www.moneycontrol.com/india/stockpricequote/diversified/srf/SRF">SRF</a> reported a consolidated net profit of Rs 432.66 crore for Q3 FY26, marking a 60 percent YoY rise from Rs 271.08 crore reported in Q3 FY25.

The firm’s revenue from operations meanwhile gained 6 percent YoY to Rs 3,712.53 crore, missing estimates.

Brokerage UBS says SRF's medium‑term growth looks constrained due to elevated refrigerant prices, continued Chinese pricing pressure, ongoing weakness in agri‑chem, and management abandoning its 20 percent specialty‑chem growth target.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-flat-opening-us-asian-markets-slip-liveblog-13782376.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Q3 Results impact: Persistent Systems shares fall 4% despite Q3 net profit rise, SRF tumbles 5% to nine-month low

The shares of Persistent Systems dropped more than 4 percent to a near six-week low on January 21 after the company released its results for the October-December quarter of the financial year 2026. Some brokerages remained optimistic and increased their target prices for the stock, while some cited valuation concerns.

SRF shares meanwhile tumbled more than 5 percent to trade at a nine-month low of Rs 2,730.10 apiece. Both these companies had released their results in the post-market hours of January 20.
Persistent Systems Q3 Results:
Persistent Systems reported a consolidated net profit of Rs 439.45 crore for Q3 FY26. This marks an 18 percent year-on-year (YoY) increase from the Rs 372.99 crore net profit reported in Q3 FY25, but 7 percent quarter-on-quarter (QoQ) decline from Rs 471.47 crore reported in Q2 FY26.

The net profit reported in the third quarter of the ongoing financial year 2026 however includes 1.8 percent one-time impact due to the new labour codes.

The firm’s revenue from operations rose 23 percent YoY to Rs 3,778.2 crore during the quarter under review. “We are also applying Agentic AI within our own operations, as a ‘customer zero’ to improve productivity and speed adoption at scale, an approach further validated by our recognition as a Microsoft Frontier Firm. As we move ahead, our priority remains sustaining growth through consistent execution as demand continues to shift toward larger, more complex engagements,” said Persistent’s CEO Sandeep Kalra.

Along with the Q3 results, Persistent Systems announced an interim dividend of Rs 22 per share for the financial year 2026. The record date to determine the eligibility of the shareholders set to receive the payment has been set at January 27.
JM Financial on Persistent Systems:
JM Financial maintained its ‘Buy’ rating on the stock, and increased its target price to Rs 7,600 per share. This implies an upside potential of nearly 20 percent from the stock’s previous closing price.

The domestic brokerage said that the firm reported yet another strong quarter in Q3, with revenue meeting elevated expectations. It added that margins beat expectations materially. “PSYS continues to have a competitive edge and is benefitting from AI-led modernization, adoption and data readiness led demand. Its head start with platforms/tools such as SASVA and iAURA, alongside internal AI-led productivity efforts allows it to present a compelling value proposition on cost and speed of delivery to clients, driving deal momentum in our view,” JM Financial said.
Choice Institutional Equities on Persistent Systems:
Choice Institutional Equities increased its target price for the stock to Rs 7,000 per share, while maintaining its ‘Add’ rating. This implies an upside potential of more than 10 percent from the stock’s previous closing price.

“Despite ongoing macro uncertainty, the company has sustained consistent execution, led by its strengthening product engineering capabilities…enhancing its competitive positioning in enterprise AI,” it said.
HSBC on Persistent Systems:
HSBC held a ‘Hold’ call for the stock with a target price of Rs 6,560 per share, which implies an upside potential of more than 3 percent from the stock’s previous closing price.

The international brokerage reported strong growth in Q3 with further improvement in profitability, the firm said. However, it noted that the market expectations seem to be fully priced in the valuation.
Nomura on Persistent Systems:
Nomura held a ‘Neutral’ call for the stock, with a target price of Rs 6,100 per share. The international brokerage said that the IT company’s growth was in-line with estimates, and margin beat expectations in Q3 FY26.
SRF Q3 Results:
SRF reported a consolidated net profit of Rs 432.66 crore for Q3 FY26, marking a 60 percent YoY rise from Rs 271.08 crore reported in Q3 FY25.

The firm’s revenue from operations meanwhile gained 6 percent YoY to Rs 3,712.53 crore, missing estimates.

Brokerage UBS says SRF's medium‑term growth looks constrained due to elevated refrigerant prices, continued Chinese pricing pressure, ongoing weakness in agri‑chem, and management abandoning its 20 percent specialty‑chem growth target.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Amagi Media Labs shares listed at Rs 317, 12% below IPO price of Rs 361., Stock closed at Rs 348, still 4% lower than IPO price after debut day jump., IPO was subscribed 30 times, but listing missed grey market expectations.

* Amagi Media Labs shares listed at Rs 317, 12% below IPO price of Rs 361.
* Stock closed at Rs 348, still 4% lower than IPO price after debut day jump.
* IPO was subscribed 30 times, but listing missed grey market expectations.

Amagi Media Labs shares debuted at Rs 317, 12% below IPO price, but closed at Rs 348, still 4% lower. Despite strong IPO demand, listing missed grey market expectations. Experts advise long-term holding or partial profit booking; fresh investors should wait.

shorts/business/amagi-media-labs-shares-make-weak-market-debut-list-at-12-discount-to-ipo-price

* Amagi Media Labs shares listed at Rs 317, 12% below IPO price of Rs 361.
* Stock closed at Rs 348, still 4% lower than IPO price after debut day jump.
* IPO was subscribed 30 times, but listing missed grey market expectations.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/labslife-sciences-services/amagimedialabs/AMLL">Amagi Media Labs</a> made a weak stock market debut on January 21, listing at Rs 317 apiece on BSE. This marks a discount of 12.19 percent over the IPO price of Rs 361 apiece.

The company’s market capitalization during debut stood at Rs 6,857.94 crore. The stock then jumped nearly 10 percent to close at Rs 348 apiece on debut day with a market capitalisation of Rs 7,528.60 crore. At the end of the debut day, the shares were around 4 percent lower than IPO price.
<h3><strong>Listing performance vs grey market estimates:</strong></h3>
The listing performance has significantly missed grey market expectations. Ahead of listing, the unlisted shares of the company were trading with 0.28 percent grey market discount over the <a href="https://www.moneycontrol.com/ipo/amagi-media-labs-ltd-amll-ipodetail">IPO price</a>, according to data on Investorgain.

The grey market premium (GMP) quoted by the site has significantly fallen from the 11.91 percent quoted on January 8.
<h3><strong>Amagi Media Labs IPO subscription status:</strong></h3>
The weak listing comes despite the firm’s IPO seeing <a href="https://www.moneycontrol.com/news/business/ipo/amagi-media-labs-ipo-subscribed-71-on-day-3-so-far-retail-portion-fully-booked-check-latest-gmp-13775319.html">strong investor interest</a> during its three days of public bidding. The Rs 1,789-crore initial public offering of the software-as-a-service (SaaS) company was subscribed 30 times from January 13 to January 16.

Retail Individual Investors (RII) subscribed their reserved portion 9.31 times (931 percent).

Non Institutional Investors (NII) however led the subscription numbers, subscribing their reserved portion nearly 37.36 times (3,736 percent). Qualified Institutional Buyers (QIB) have booked the portion kept for them 33.77 times (3,377 percent).
<h3><strong>About Amagi Media Labs IPO:</strong></h3>
Amagi Media Labs launched its initial public offering (IPO) to raise Rs 1,789 crore through a fresh issue of shares worth Rs 816 crore and an offer for sale worth Rs 973 crore by the existing investors. The price band for the IPO was set at Rs 343-361 per share.

Investors could bid for a minimum of 41 shares, requiring an investment of Rs 14,801 at the upper price band, and in multiples thereafter. The IPO was open for public bidding from January 13 to January 16.

A day before the IPO opened for public bidding, Amagi Media Labs raised Rs 804.87 crore from 42 anchor investors on January 12. Out of the total allocation to anchor investors, 1.69 crore equity shares worth Rs 613 crore were allocated to 11 domestic mutual funds including SBI Mutual Fund, ICICI Prudential Mutual Fund, Aditya Birla Sun Life AMC, HDFC AMC, Motilal Oswal AMC, Franklin India, PGIM India, and Helios.

Insurance companies like HDFC Life Insurance, Bharti Axa Life Insurance, and Edelweiss Life Insurance also picked up 14.95 lakh shares in Amagi for Rs 53.98 crore.
<h3><strong>Should you buy, sell or hold?</strong></h3>
"At the upper end of the price band, the company is valued at 6.7 times FY25 price-to-sales, implying a post-issue market capitalisation of about Rs 7,810 crore. The company has turned profitable in the first half of FY26 and, aided by operating leverage, is positioned to deliver full-year profitability in FY26," said Narendra Solanki, Head of Fundamental Research – Investment Services at Anand Rathi Shares and Stock Brokers.

"Long-term investors may continue to hold the stock, while others can consider partial profit booking and retain the balance for the long term," he added.

Mahesh M Ojha, Vice President – Research and Business Development at Kantilal Chhaganlal Securities Pvt Ltd, said the issue is valued at about five times FY26 estimated EV/Sales, which he described as reasonable. "Allotted investors may look to book listing gains, while fresh investors should wait for price discovery post listing," Ojha said.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-flat-opening-us-asian-markets-slip-liveblog-13782376.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Amagi Media Labs shares jump 10% after listing at 12% discount to IPO price

Amagi Media Labs share price makes weak market debut, list at 12% discount to IPO price

The shares of Amagi Media Labs made a weak stock market debut on January 21, listing at Rs 317 apiece on BSE. This marks a discount of 12.19 percent over the IPO price of Rs 361 apiece.

The company’s market capitalization during debut stood at Rs 6,857.94 crore. The stock then jumped nearly 10 percent to close at Rs 348 apiece on debut day with a market capitalisation of Rs 7,528.60 crore. At the end of the debut day, the shares were around 4 percent lower than IPO price.
Listing performance vs grey market estimates:
The listing performance has significantly missed grey market expectations. Ahead of listing, the unlisted shares of the company were trading with 0.28 percent grey market discount over the IPO price, according to data on Investorgain.

The grey market premium (GMP) quoted by the site has significantly fallen from the 11.91 percent quoted on January 8.
Amagi Media Labs IPO subscription status:
The weak listing comes despite the firm’s IPO seeing strong investor interest during its three days of public bidding. The Rs 1,789-crore initial public offering of the software-as-a-service (SaaS) company was subscribed 30 times from January 13 to January 16.

Retail Individual Investors (RII) subscribed their reserved portion 9.31 times (931 percent).

Non Institutional Investors (NII) however led the subscription numbers, subscribing their reserved portion nearly 37.36 times (3,736 percent). Qualified Institutional Buyers (QIB) have booked the portion kept for them 33.77 times (3,377 percent).
About Amagi Media Labs IPO:
Amagi Media Labs launched its initial public offering (IPO) to raise Rs 1,789 crore through a fresh issue of shares worth Rs 816 crore and an offer for sale worth Rs 973 crore by the existing investors. The price band for the IPO was set at Rs 343-361 per share.

Investors could bid for a minimum of 41 shares, requiring an investment of Rs 14,801 at the upper price band, and in multiples thereafter. The IPO was open for public bidding from January 13 to January 16.

A day before the IPO opened for public bidding, Amagi Media Labs raised Rs 804.87 crore from 42 anchor investors on January 12. Out of the total allocation to anchor investors, 1.69 crore equity shares worth Rs 613 crore were allocated to 11 domestic mutual funds including SBI Mutual Fund, ICICI Prudential Mutual Fund, Aditya Birla Sun Life AMC, HDFC AMC, Motilal Oswal AMC, Franklin India, PGIM India, and Helios.

Insurance companies like HDFC Life Insurance, Bharti Axa Life Insurance, and Edelweiss Life Insurance also picked up 14.95 lakh shares in Amagi for Rs 53.98 crore.
Should you buy, sell or hold?
&quot;At the upper end of the price band, the company is valued at 6.7 times FY25 price-to-sales, implying a post-issue market capitalisation of about Rs 7,810 crore. The company has turned profitable in the first half of FY26 and, aided by operating leverage, is positioned to deliver full-year profitability in FY26,&quot; said Narendra Solanki, Head of Fundamental Research – Investment Services at Anand Rathi Shares and Stock Brokers.

&quot;Long-term investors may continue to hold the stock, while others can consider partial profit booking and retain the balance for the long term,&quot; he added.

Mahesh M Ojha, Vice President – Research and Business Development at Kantilal Chhaganlal Securities Pvt Ltd, said the issue is valued at about five times FY26 estimated EV/Sales, which he described as reasonable. &quot;Allotted investors may look to book listing gains, while fresh investors should wait for price discovery post listing,&quot; Ojha said.

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Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

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