< -5%

Banaras Beads

Brand Concepts

-5% to -3%

Sejal Glass

Borosil Renew

Triveni Glass

Jai Mata Glass

Asahi India

Haldyn Glass

La Opala RG

-3% to 0%

Agarwal Toughen

Empire Ind

Saint-Gobain

Borosil

0% to 3%

3% to 5%

IT stocks fell up to 3 percent as investors booked profits after recent gains., Nifty IT index dropped 1.5 percent, erasing gains from previous two sessions., US Fed's rate decision and weak dollar contributed to sector's decline.

* IT stocks fell up to 3 percent as investors booked profits after recent gains.
* Nifty IT index dropped 1.5 percent, erasing gains from previous two sessions.
* US Fed's rate decision and weak dollar contributed to sector's decline.

Indian IT stocks fell up to 3% after profit booking and the US Federal Reserve’s decision to hold interest rates. The Nifty IT index dropped 1.5%, with all constituents in the red. A weaker US dollar also weighed on export-oriented IT firms’ earnings.

shorts/business/it-shares-decline-up-to-3-on-profit-booking-after-2-day-rise-persistent-systems-tcs-hcltech-lead-losses-here-are-likely-triggers

* IT stocks fell up to 3 percent as investors booked profits after recent gains.
* Nifty IT index dropped 1.5 percent, erasing gains from previous two sessions.
* US Fed's rate decision and weak dollar contributed to sector's decline.

IT shares declined up to 3 percent on Thursday after two sessions of gains, as investors booked profits across the sector. Stocks such as Persistent Systems, Tata Consultancy Services (TCS) and HCL Technologies led the losses amid selling pressure.

The Nifty IT index, which had risen 1.2 percent over the previous two sessions, gave up those gains and fell 1.5 percent in trade.
<h3><span style="text-decoration: underline;"><strong>Key factors behind the decline</strong></span></h3>
<strong>1) US Federal Reserve decision: </strong>The fall came after the US Federal Reserve held interest rates, in line with expectations, citing elevated inflation and resilient economic growth. Markets are not pricing in another rate cut until the June policy meeting. Higher US interest rates tend to support the dollar and Treasury yields, making emerging markets such as India relatively less attractive for foreign investors.

"The Fed decision is likely to lead to short-term challenges in US rate-sensitive sectors. Globally, this may lead to a slight market decline as investors adjust to the expectation of no immediate rate cuts," said Rajesh Palviya, Head of Research at Axis Securities.

The Indian IT sector, valued at about USD 283 billion, derives a significant portion of its revenue from the United States, making developments in the world’s largest economy critical for the industry.

<strong>2) Profit booking: </strong>After the recent rally, profit booking was seen across IT stocks, leading the Nifty IT index to surrender all its gains from the past two sessions.

Shares of <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/tataconsultancyservices/TCS">TCS</a> declined more than 2 percent, while <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/persistentsystems/PS15">Persistent Systems</a> emerged as the biggest laggard, falling up to 3 percent. Wipro, Tech Mahindra, Infosys and HCL Technologies were down up to 1 percent. All ten constituents of the Nifty IT index were trading in the red.

<strong>3) Weak US dollar: </strong>The US dollar extended its losses this week, slipping to a four-year low against a basket of currencies. A weaker dollar can weigh on Indian IT companies as it reduces the value of dollar-denominated revenues when converted into rupees, impacting earnings visibility for export-oriented firms.

<em><strong>Disclaimer:</strong> The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.</em>

A financial journalist with over 10 years of experience, specialising in tracking stock market movements and fundamental developments that impact investors and the broader economy. A keen observer of global financial markets, I regularly engage with leading market voices to write stories. At Moneycontrol, I focus on decoding market trends, policy shifts and economic changes, driven by a constant passion to learn, analyse, and share knowledge with my readers.

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IT shares decline up to 3% on profit booking after 2-day rise, Persistent Systems, TCS, HCLTech lead losses; here are likely triggers

IT shares declined up to 3 percent on Thursday after two sessions of gains, as investors booked profits across the sector. Stocks such as Persistent Systems, Tata Consultancy Services (TCS) and HCL Technologies led the losses amid selling pressure.

The Nifty IT index, which had risen 1.2 percent over the previous two sessions, gave up those gains and fell 1.5 percent in trade.
Key factors behind the decline
1) US Federal Reserve decision: The fall came after the US Federal Reserve held interest rates, in line with expectations, citing elevated inflation and resilient economic growth. Markets are not pricing in another rate cut until the June policy meeting. Higher US interest rates tend to support the dollar and Treasury yields, making emerging markets such as India relatively less attractive for foreign investors.

&quot;The Fed decision is likely to lead to short-term challenges in US rate-sensitive sectors. Globally, this may lead to a slight market decline as investors adjust to the expectation of no immediate rate cuts,&quot; said Rajesh Palviya, Head of Research at Axis Securities.

The Indian IT sector, valued at about USD 283 billion, derives a significant portion of its revenue from the United States, making developments in the world’s largest economy critical for the industry.

2) Profit booking: After the recent rally, profit booking was seen across IT stocks, leading the Nifty IT index to surrender all its gains from the past two sessions.

Shares of TCS declined more than 2 percent, while Persistent Systems emerged as the biggest laggard, falling up to 3 percent. Wipro, Tech Mahindra, Infosys and HCL Technologies were down up to 1 percent. All ten constituents of the Nifty IT index were trading in the red.

3) Weak US dollar: The US dollar extended its losses this week, slipping to a four-year low against a basket of currencies. A weaker dollar can weigh on Indian IT companies as it reduces the value of dollar-denominated revenues when converted into rupees, impacting earnings visibility for export-oriented firms.

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

ITC shares dipped 0.8% ahead of Q3 results, impacted by cigarette tax hike, Tata Motors dropped 1.2% pre-Q3 results, despite 18% commercial vehicle sales rise., Both companies face mixed analyst ratings and recent stock volatility

* ITC shares dipped 0.8% ahead of Q3 results, impacted by cigarette tax hike
* Tata Motors dropped 1.2% pre-Q3 results, despite 18% commercial vehicle sales rise.
* Both companies face mixed analyst ratings and recent stock volatility

ITC shares fell 0.8% ahead of Q3 results, impacted by cigarette tax hikes and broker downgrades. Tata Motors dropped 1.2% before results, despite strong commercial vehicle sales and GST cuts; a one-time charge from new labor codes may affect profits.

shorts/business/itc-shares-fall-marginally-tata-motors-down-1-ahead-of-q3-results-today-here-s-what-brokerages-expect

* ITC shares dipped 0.8% ahead of Q3 results, impacted by cigarette tax hike
* Tata Motors dropped 1.2% pre-Q3 results, despite 18% commercial vehicle sales rise.
* Both companies face mixed analyst ratings and recent stock volatility

ITC shares fell marginally on January 29 ahead of December quarter results scheduled to be announced later in the day while shares of India's top commercial vehicle maker Tata Motors also declined ahead of Q3 results.
<h3><strong>ITC dips ahead of Q3 results:</strong></h3>
Shares of consumer goods maker <a href="https://www.moneycontrol.com/india/stockpricequote/diversified/itc/ITC">ITC</a> dipped 0.8% to Rs 318.7 apiece ahead of Q3 results on January 29.

At least six brokerages downgraded company's shares earlier in January after government's new tax on cigarettes - its biggest segment - was seen hitting earnings growth.

Nirmal Bang Equities gave a "hold" rating on the stock and slashed price target to Rs 335 from Rs 495 and expects 5% YoY rise in quarterly profit; cigarette excise duty hike expected to weigh on near-term cigarette vols, resulting in lower target multiples compared to the past.

PhillipCapital gave a "buy" rating for the stock and target price of Rs 480 and expects 8% growth in company's revenue, supported by FMCG business's 7-8% growth, with some impact from GST-linked channel disruption

The company posted 7.1% rise in Q2 revenue, supported by solid growth in its cigarettes and packed goods businesses.

ITC stock dropped 12% in 2025 and the stock has been down 20% so far in January.
<h3><strong>Tata Motors slips ahead of results:</strong></h3>
Shares of India's top commercial vehicle maker <a href="https://www.moneycontrol.com/india/stockpricequote/automobile-truckslcvs/tatamotors/TML02">Tata Motors</a> fell 1.2% to Rs 462.5 apiece ahead of December quarter results on January 29.

Sales of commercial vehicles in India rose 22% across all segments during the December quarter, with those of Tata Motors rising 18% after the government cut taxes on commercial vehicles to 18% from 28%

Tata Motors split from the group's passenger vehicles arm in October and made its trading debut as a separate entity in November

Nomura said clear improvement in fleet operator economics, driven by lower GST cuts and better freight rates, will lead to higher profitability

The company is expected to take a hit from a one-time charge due to new labour codes implemented in November last year.

The shares rose 38% since their listing on November 12, 2025, at Rs 335 apiece.

Follow all LIVE updates from <a href="https://www.moneycontrol.com/news/business/earnings/q3-results-live-updates-itc-vedanta-paytm-tata-motors-adani-power-dabur-india-swiggy-canara-bank-dixon-earnings-share-price-jan-29-liveblog-13796427.html">Q3 results</a> 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>

ITC shares fall marginally, Tata Motors down 1% ahead of Q3 results today: Here's what brokerages expect

ITC shares fell marginally on January 29 ahead of December quarter results scheduled to be announced later in the day while shares of India's top commercial vehicle maker Tata Motors also declined ahead of Q3 results.
ITC dips ahead of Q3 results:
Shares of consumer goods maker ITC dipped 0.8% to Rs 318.7 apiece ahead of Q3 results on January 29.

At least six brokerages downgraded company's shares earlier in January after government's new tax on cigarettes - its biggest segment - was seen hitting earnings growth.

Nirmal Bang Equities gave a &quot;hold&quot; rating on the stock and slashed price target to Rs 335 from Rs 495 and expects 5% YoY rise in quarterly profit; cigarette excise duty hike expected to weigh on near-term cigarette vols, resulting in lower target multiples compared to the past.

PhillipCapital gave a &quot;buy&quot; rating for the stock and target price of Rs 480 and expects 8% growth in company's revenue, supported by FMCG business's 7-8% growth, with some impact from GST-linked channel disruption

The company posted 7.1% rise in Q2 revenue, supported by solid growth in its cigarettes and packed goods businesses.

ITC stock dropped 12% in 2025 and the stock has been down 20% so far in January.
Tata Motors slips ahead of results:
Shares of India's top commercial vehicle maker Tata Motors fell 1.2% to Rs 462.5 apiece ahead of December quarter results on January 29.

Sales of commercial vehicles in India rose 22% across all segments during the December quarter, with those of Tata Motors rising 18% after the government cut taxes on commercial vehicles to 18% from 28%

Tata Motors split from the group's passenger vehicles arm in October and made its trading debut as a separate entity in November

Nomura said clear improvement in fleet operator economics, driven by lower GST cuts and better freight rates, will lead to higher profitability

The company is expected to take a hit from a one-time charge due to new labour codes implemented in November last year.

The shares rose 38% since their listing on November 12, 2025, at Rs 335 apiece.

Follow all LIVE updates from Q3 results 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.

SBI Card and SBI Life shares dropped 3% after Q3 results., Gland Pharma shares rose 9% on strong Q3 profit and sales in Europe, US markets., Brokerages revised targets for SBI Card and SBI Life, keeping neutral or buy ratings.

* SBI Card and SBI Life shares dropped 3% after Q3 results.
* Gland Pharma shares rose 9% on strong Q3 profit and sales in Europe, US markets.
* Brokerages revised targets for SBI Card and SBI Life, keeping neutral or buy ratings.

SBI Cards and SBI Life shares fell over 3% after Q3 results disappointed, despite profit growth. Gland Pharma surged 9% on strong earnings and sales in Europe and the US. Brokerages revised ratings and targets for all three stocks following the results.

shorts/business/q3-results-impact-sbi-cards-sbi-life-shares-fall-3-gland-pharma-surges-9-to-two-month-high

* SBI Card and SBI Life shares dropped 3% after Q3 results.
* Gland Pharma shares rose 9% on strong Q3 profit and sales in Europe, US markets.
* Brokerages revised targets for SBI Card and SBI Life, keeping neutral or buy ratings.

The shares of SBI Card and SBI Life dropped more than 3 percent each on January 29 after their respective Q3 results failed to impress D-Street. Gland Pharma shares meanwhile rallied more than 9 percent.

The three companies had released their results for the October-December quarter of the ongoing financial year 2026 earlier yesterday.
<h3><strong>SBI Card Q3 Results:</strong></h3>
<a href="https://www.moneycontrol.com/india/stockpricequote/finance-term-lending/sbicardspaymentservices/SCP02">SBI Cards and Payment Services</a> shares dropped 3 percent to trade at a near one-year-low of Rs 758 apiece, nearing its 52-week low of Rs 721 apiece. The stock has now snapped a two-session gaining streak.

The company reported a net profit of Rs 556.64 crore for the third quarter of FY26. This marked a 45 percent year-on-year (YoY) rise from the Rs 383.23 crore net profit reported in the same period of the previous financial year.

The firm’s revenue from operations meanwhile rose more than 11 percent YoY to Rs 5,127.26 crore during the quarter under review.

Motilal Oswal said that net interest margins fell 11 percent sequentially, as most of the benefit from the lower cost of funds has already been realized, while yields carry a mild near-term downside bias, which could keep margins under check.

“We reduce our earnings estimates by 4%/6.5% for FY26/FY27, considering a contraction in margins and a decline in receivables, while credit costs are likely to witness a modest decline. We expect SBICARD to post an RoA/RoE of 3.85%/17.9% by FY27,” the domestic brokerage said.

It reiterated its ‘Neutral’ rating on the stock, but revised its target price to Rs 875 apiece. This implies an upside potential of nearly 12 percent from the stock’s previous closing price.
<h3><strong>SBI Life Q3 Results:</strong></h3>
<a href="https://www.moneycontrol.com/india/stockpricequote/lifehealth-insurance/sbilifeinsurancecompany/SLI03">SBI Life Insurance Company</a> also fell more than 3 percent to trade at a one-month low of Rs 1,984.20 apiece, snapping a two-session gaining streak.

SBI Life Insurance Company reported a net profit of Rs 576.74 crore for Q3 FY26, marking a 5 percent YoY increase from the Rs 550.82 crore net profit reported in Q3 FY25. This however included a one-time exceptional item arising due to the new labour codes.

Goldman Sachs maintained a ‘Buy’ call on the stock, with a target price of Rs 2,385 apiece. This implies an upside potential of more than 16 percent from the stock’s previous closing price. The international brokerage noted that the firm’s VNB rose 22 percent YoY, driven by improved product mix.

It however noted that margin declined by 35 bps YoY due to ITC loss.

Jefferies said that improvement in APE growth is encouraging, but markets expected a slight upgrade as company's reiterated growth guidance of 13-14 percent.
<h3><strong>Gland Pharma Q3 Results:</strong></h3>
<a href="https://www.moneycontrol.com/india/stockpricequote/pharmaceuticalsdrugs/glandpharma/GP14">Gland Pharma</a> shares gained more than 9 percent to trade at Rs 1,847.10 apiece, the highest level seen by the stock since November 14 last year.

The company reported a consolidated net profit of Rs 261.47 crore for Q3 FY26, marking a 28 percent year-on-year (YoY) increase from the Rs 204.69 crore net profit reported in Q3 FY25. This was supported by strong sales in the key European and U.S. markets.

The firm’s revenue from operations meanwhile grew around 22.5 percent YoY to Rs 1,695.36 crore. Nomura upgraded the stock to ‘Buy’ from ‘Neutral’, saying that the risk‑reward now appears favorable given recent earnings revisions and the stock’s correction.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-flat-start-2-liveblog-13795738.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: SBI Card, SBI Life shares fall 3%; Gland Pharma surges 9% to two-month high

The shares of SBI Card and SBI Life dropped more than 3 percent each on January 29 after their respective Q3 results failed to impress D-Street. Gland Pharma shares meanwhile rallied more than 9 percent.

The three companies had released their results for the October-December quarter of the ongoing financial year 2026 earlier yesterday.
SBI Card Q3 Results:
SBI Cards and Payment Services shares dropped 3 percent to trade at a near one-year-low of Rs 758 apiece, nearing its 52-week low of Rs 721 apiece. The stock has now snapped a two-session gaining streak.

The company reported a net profit of Rs 556.64 crore for the third quarter of FY26. This marked a 45 percent year-on-year (YoY) rise from the Rs 383.23 crore net profit reported in the same period of the previous financial year.

The firm’s revenue from operations meanwhile rose more than 11 percent YoY to Rs 5,127.26 crore during the quarter under review.

Motilal Oswal said that net interest margins fell 11 percent sequentially, as most of the benefit from the lower cost of funds has already been realized, while yields carry a mild near-term downside bias, which could keep margins under check.

“We reduce our earnings estimates by 4%/6.5% for FY26/FY27, considering a contraction in margins and a decline in receivables, while credit costs are likely to witness a modest decline. We expect SBICARD to post an RoA/RoE of 3.85%/17.9% by FY27,” the domestic brokerage said.

It reiterated its ‘Neutral’ rating on the stock, but revised its target price to Rs 875 apiece. This implies an upside potential of nearly 12 percent from the stock’s previous closing price.
SBI Life Q3 Results:
SBI Life Insurance Company also fell more than 3 percent to trade at a one-month low of Rs 1,984.20 apiece, snapping a two-session gaining streak.

SBI Life Insurance Company reported a net profit of Rs 576.74 crore for Q3 FY26, marking a 5 percent YoY increase from the Rs 550.82 crore net profit reported in Q3 FY25. This however included a one-time exceptional item arising due to the new labour codes.

Goldman Sachs maintained a ‘Buy’ call on the stock, with a target price of Rs 2,385 apiece. This implies an upside potential of more than 16 percent from the stock’s previous closing price. The international brokerage noted that the firm’s VNB rose 22 percent YoY, driven by improved product mix.

It however noted that margin declined by 35 bps YoY due to ITC loss.

Jefferies said that improvement in APE growth is encouraging, but markets expected a slight upgrade as company's reiterated growth guidance of 13-14 percent.
Gland Pharma Q3 Results:
Gland Pharma shares gained more than 9 percent to trade at Rs 1,847.10 apiece, the highest level seen by the stock since November 14 last year.

The company reported a consolidated net profit of Rs 261.47 crore for Q3 FY26, marking a 28 percent year-on-year (YoY) increase from the Rs 204.69 crore net profit reported in Q3 FY25. This was supported by strong sales in the key European and U.S. markets.

The firm’s revenue from operations meanwhile grew around 22.5 percent YoY to Rs 1,695.36 crore. Nomura upgraded the stock to ‘Buy’ from ‘Neutral’, saying that the risk‑reward now appears favorable given recent earnings revisions and the stock’s correction.

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.

Maruti Suzuki shares fell over 3 percent after Q3 profit missed estimates., Stock extends losing streak, down nearly 14 percent in January so far., India-EU tariff cuts on European cars add pressure to auto stocks.

* Maruti Suzuki shares fell over 3 percent after Q3 profit missed estimates.
* Stock extends losing streak, down nearly 14 percent in January so far.
* India-EU tariff cuts on European cars add pressure to auto stocks.

Maruti Suzuki shares fell up to 3.5% after Q3 profit missed estimates, extending a seven-session losing streak. The auto index dropped 2% as India and the EU agreed to cut tariffs on European car imports, pressuring local auto stocks and benefiting luxury brands.

shorts/business/maruti-suzuki-shares-decline-up-to-3-on-missing-q3-profit-estimates-drag-auto-index-up-to-2

* Maruti Suzuki shares fell over 3 percent after Q3 profit missed estimates.
* Stock extends losing streak, down nearly 14 percent in January so far.
* India-EU tariff cuts on European cars add pressure to auto stocks.

Maruti Suzuki India shares declined up to 3 percent on Thursday after the country’s largest carmaker reported December quarter results that fell short of profit estimates, dragging the auto index lower.

The stock fell as much as 3.5 percent in early trade following the earnings announcement. On the BSE, shares of <a href="https://www.moneycontrol.com/india/stockpricequote/auto-carsjeeps/marutisuzukiindia/MS24">Maruti Suzuki</a> traded 3.4 percent lower at Rs 14,370, while on the NSE, they quoted 3.52 percent lower at Rs 14,353.

With this, the stock extended its losing streak to a seventh consecutive session and has declined about 11 percent so far. The shares are down nearly 13.6 percent in January, so far.

Maruti Suzuki said its consolidated profit for the December quarter rose 4 percent year-on-year to Rs 3,794 crore, impacted by higher costs and a one-time provision of Rs 594 crore related to the new Labour Codes. The profit, however, missed analysts’ expectations of Rs 4,261 crore.

The stock has also remained under pressure after India and the European Union earlier this week announced tariff cuts on European car imports.

Ambit Capital, which has a ‘Sell’ rating on the stock with a price target of Rs 13,286, said margins are being weighed down by higher electric vehicle spending, new capacity-related costs and a shift towards lower-margin models. It added that the company’s volume-led strategy risks prioritising market share over profitability.

Emkay Global, which has a ‘Buy’ rating on the stock, said it remains positive on Maruti Suzuki’s long-term prospects, citing its aggressive product pipeline and expectations of a recovery in small car demand after years of subdued growth. However, the brokerage cut its price target by 4.5 percent to Rs 17,000, citing rising commodity pressures.
<h3><span style="text-decoration: underline;"><strong>Auto index see profit booking</strong></span></h3>
The sharp fall in Maruti Suzuki shares weighed on the Nifty Auto index, which declined up to 2 percent during the session.

<a href="https://www.moneycontrol.com/india/stockpricequote/auto-23-wheelers/tvsmotorcompany/TVS">TVS Motor Company</a>, <a href="https://www.moneycontrol.com/india/stockpricequote/auto-carsjeeps/mahindramahindra/MM">Mahindra &amp; Mahindra</a>, Maruti Suzuki India and <a href="https://www.moneycontrol.com/india/stockpricequote/auto-ancillaries/exideindustries/EI">Exide Industries</a> were among the major laggards in the auto index, with losses of up to 3 percent.

Auto shares also came under pressure following reports that India will sharply reduce import duties on high-end European cars, lowering rates to 30 percent from as much as 110 percent under a new trade agreement with the European Union.

The move would significantly open India’s auto market, benefiting luxury manufacturers such as BMW and Mercedes-Benz.

India and the EU concluded the trade agreement on Tuesday, which is set to reduce tariffs across a wide range of goods and strengthen bilateral trade.

<em><strong>Disclaimer:</strong> The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.</em>

Maruti Suzuki shares decline up to 3% on missing Q3 profit estimates, drag auto index up to 2%

Maruti Suzuki India shares declined up to 3 percent on Thursday after the country’s largest carmaker reported December quarter results that fell short of profit estimates, dragging the auto index lower.

The stock fell as much as 3.5 percent in early trade following the earnings announcement. On the BSE, shares of Maruti Suzuki traded 3.4 percent lower at Rs 14,370, while on the NSE, they quoted 3.52 percent lower at Rs 14,353.

With this, the stock extended its losing streak to a seventh consecutive session and has declined about 11 percent so far. The shares are down nearly 13.6 percent in January, so far.

Maruti Suzuki said its consolidated profit for the December quarter rose 4 percent year-on-year to Rs 3,794 crore, impacted by higher costs and a one-time provision of Rs 594 crore related to the new Labour Codes. The profit, however, missed analysts’ expectations of Rs 4,261 crore.

The stock has also remained under pressure after India and the European Union earlier this week announced tariff cuts on European car imports.

Ambit Capital, which has a ‘Sell’ rating on the stock with a price target of Rs 13,286, said margins are being weighed down by higher electric vehicle spending, new capacity-related costs and a shift towards lower-margin models. It added that the company’s volume-led strategy risks prioritising market share over profitability.

Emkay Global, which has a ‘Buy’ rating on the stock, said it remains positive on Maruti Suzuki’s long-term prospects, citing its aggressive product pipeline and expectations of a recovery in small car demand after years of subdued growth. However, the brokerage cut its price target by 4.5 percent to Rs 17,000, citing rising commodity pressures.
Auto index see profit booking
The sharp fall in Maruti Suzuki shares weighed on the Nifty Auto index, which declined up to 2 percent during the session.

TVS Motor Company, Mahindra &amp;amp; Mahindra, Maruti Suzuki India and Exide Industries were among the major laggards in the auto index, with losses of up to 3 percent.

Auto shares also came under pressure following reports that India will sharply reduce import duties on high-end European cars, lowering rates to 30 percent from as much as 110 percent under a new trade agreement with the European Union.

The move would significantly open India’s auto market, benefiting luxury manufacturers such as BMW and Mercedes-Benz.

India and the EU concluded the trade agreement on Tuesday, which is set to reduce tariffs across a wide range of goods and strengthen bilateral trade.

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

Nifty Metal index rose 2%, reaching a record high despite weak markets., Hindustan Copper shares jumped 18 percent, up 305 percent in nine months, Gold and silver prices also hit all-time highs, boosting overall metal sentiment

* Nifty Metal index rose 2%, reaching a record high despite weak markets.
* Hindustan Copper shares jumped 18 percent, up 305 percent in nine months
* Gold and silver prices also hit all-time highs, boosting overall metal sentiment

Metal stocks surged for a third session, with Nifty Metal index up over 2%. Hindustan Copper led gains, hitting an all-time high after winning a mining bid. Gold and silver prices also hit records, boosting sentiment despite overall market weakness.

shorts/business/hindustan-copper-shares-surge-18-metal-index-gains-for-3rd-day-what-s-behind-the-rally

* Nifty Metal index rose 2%, reaching a record high despite weak markets.
* Hindustan Copper shares jumped 18 percent, up 305 percent in nine months
* Gold and silver prices also hit all-time highs, boosting overall metal sentiment

Metal stocks extended their sharp surge for the third consecutive session on January 29, pushing the Nifty Metal index up more than 2 percent in the morning trading hours.

<a href="https://www.moneycontrol.com/india/stockpricequote/metals-non-ferrous/hindustancopper/HC07">Hindustan Copper</a> shares were the top gainers on the index, jumping around 18 percent to hit an all-time high of Rs 745 apiece on Thursday. The stock has now rallied a whopping 305 percent in just nine months from its 52-week low of Rs 183.82 apiece, which it had hit in April this year.

The <a href="https://www.moneycontrol.com/indian-indices/nifty-metal-51.html">Nifty Metal index</a> rose to a record high of 12,359.05. This comes despite an overall bearish sentiment in markets, with benchmark indices Sensex and Nifty in the red.
<h3><strong>Why are Hindustan Copper shares rallying?</strong></h3>
Hindustan Copper shares have seen a sharp surge in recent days, rallying more than 39 percent in just three sessions so far after the company announced on January 24 that it has emerged as the <a href="https://www.moneycontrol.com/news/business/markets/hindustan-copper-shares-rally-19-in-two-days-as-firm-becomes-preferred-bidder-for-mp-copper-block-13794687.html">preferred bidder for Baghwari-Khirkhori Copper and associated mineral block</a> in Madhya Pradesh.

The company had participated in the state government’s e-auction for the grant of mining lease and composite license for the said block. “Since, HCL had submitted the highest final price offer, it has been declared as the Preferred Bidder for this auction,” it said.

The sharp surge in the shares of the Vedanta Group-company also comes amid the rally in copper prices, after the red metal gained 60 percent in 2025.

Copper’s long-term fundamentals remain strong, and Indian investors increasingly seek global commodity exposure to help diversify their portfolios and use as hedges against inflation, said Ross Maxwell, Global Strategy Operations Lead, VT Markets.
<h3><strong>Why are metal stocks rising?</strong></h3>
Notably, gold and silver prices also jumped today, boosting the overall sentiment for metals. Gold futures with February expiry on the Multi Commodity Exchange of India (MCX) jumped 9 percent to hit an all-time high of Rs 1,80,779 per 10 grams. The contracts with April and June expiries also surged around 9 percent each to fresh lifetime highs.

Silver futures with March expiry meanwhile gained around 6 percent to hit a fresh all-time high of Rs 4,07,456 per kilogram. The contracts with May and July expiries also jumped around 6 percent each to their respective lifetime highs.

Meanwhile, the US Federal Reserve decided to leave rates unchanged on Wednesday, as widely expected. However, investors are actively looking forward to some boost for manufacturing in the upcoming Budget, which will likely in turn may push the metal stocks further up.

Growth in the Index of Industrial Production (IIP) accelerated for the second straight month to a 26-month high of 7.8 percent on-year in December, compared with an upwardly revised 7.2 percent in November, driven by robust consumer demand, data released yesterday showed.

On a sectoral basis, mining and electricity were drivers of higher IIP growth in December, while manufacturing growth moderated a little.
<h3><strong>Other metal stocks:</strong></h3>
National Aluminium Company (<a href="https://www.moneycontrol.com/india/stockpricequote/aluminium/nationalaluminiumcompany/NAC">NALCO</a>) gained more than 4 percent, while Jindal Steel shares gained nearly 4 percent, as seen at 10.45 am on January 29. Hindalco Industries, Vedanta, NMDC and <a href="https://www.moneycontrol.com/india/stockpricequote/ironsteel/tatasteel/TIS">Tata Steel</a> shares gained around 2 percent each, while Steel Authority of India (<a href="https://www.moneycontrol.com/india/stockpricequote/steel-large/steelauthorityindia/SAI">SAIL</a>), Hindustan Zinc and JSW Steel shares were up over 1 percent each.

Jindal Stainless shares were trading in the green with marginal gains. Bucking the trend, APL Apollo Tubes, Adani Enterprises and Welspun Corp shares fell up to 1 percent.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-flat-start-2-liveblog-13795738.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>

Hindustan Copper shares surge 18%, metal index gains for 3rd day: What's behind the rally?

Metal stocks extended their sharp surge for the third consecutive session on January 29, pushing the Nifty Metal index up more than 2 percent in the morning trading hours.

Hindustan Copper shares were the top gainers on the index, jumping around 18 percent to hit an all-time high of Rs 745 apiece on Thursday. The stock has now rallied a whopping 305 percent in just nine months from its 52-week low of Rs 183.82 apiece, which it had hit in April this year.

The Nifty Metal index rose to a record high of 12,359.05. This comes despite an overall bearish sentiment in markets, with benchmark indices Sensex and Nifty in the red.
Why are Hindustan Copper shares rallying?
Hindustan Copper shares have seen a sharp surge in recent days, rallying more than 39 percent in just three sessions so far after the company announced on January 24 that it has emerged as the preferred bidder for Baghwari-Khirkhori Copper and associated mineral block in Madhya Pradesh.

The company had participated in the state government’s e-auction for the grant of mining lease and composite license for the said block. “Since, HCL had submitted the highest final price offer, it has been declared as the Preferred Bidder for this auction,” it said.

The sharp surge in the shares of the Vedanta Group-company also comes amid the rally in copper prices, after the red metal gained 60 percent in 2025.

Copper’s long-term fundamentals remain strong, and Indian investors increasingly seek global commodity exposure to help diversify their portfolios and use as hedges against inflation, said Ross Maxwell, Global Strategy Operations Lead, VT Markets.
Why are metal stocks rising?
Notably, gold and silver prices also jumped today, boosting the overall sentiment for metals. Gold futures with February expiry on the Multi Commodity Exchange of India (MCX) jumped 9 percent to hit an all-time high of Rs 1,80,779 per 10 grams. The contracts with April and June expiries also surged around 9 percent each to fresh lifetime highs.

Silver futures with March expiry meanwhile gained around 6 percent to hit a fresh all-time high of Rs 4,07,456 per kilogram. The contracts with May and July expiries also jumped around 6 percent each to their respective lifetime highs.

Meanwhile, the US Federal Reserve decided to leave rates unchanged on Wednesday, as widely expected. However, investors are actively looking forward to some boost for manufacturing in the upcoming Budget, which will likely in turn may push the metal stocks further up.

Growth in the Index of Industrial Production (IIP) accelerated for the second straight month to a 26-month high of 7.8 percent on-year in December, compared with an upwardly revised 7.2 percent in November, driven by robust consumer demand, data released yesterday showed.

On a sectoral basis, mining and electricity were drivers of higher IIP growth in December, while manufacturing growth moderated a little.
Other metal stocks:
National Aluminium Company (NALCO) gained more than 4 percent, while Jindal Steel shares gained nearly 4 percent, as seen at 10.45 am on January 29. Hindalco Industries, Vedanta, NMDC and Tata Steel shares gained around 2 percent each, while Steel Authority of India (SAIL), Hindustan Zinc and JSW Steel shares were up over 1 percent each.

Jindal Stainless shares were trading in the green with marginal gains. Bucking the trend, APL Apollo Tubes, Adani Enterprises and Welspun Corp shares fell up to 1 percent.

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.

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