Share Market Highlights 23 January 2025: Sensex, Nifty climb amid global optimism; UltraTech Ceme...
Sensex, Nifty updates on 23 January 2025: Equity benchmark indices Sensex and Nifty continued their upward momentum on Thursday, supported by strong buying in IT, consumer durables, and commodity stocks amid positive global cues. The Sensex gained 115.39 poin…
Industry Highlights
Positive Earnings Surprises
Several companies reported impressive financial performances:
- Go Digit: Net profit surged by over 200%
- E2E Network: Net profit doubled
- 20 Microns: Revenue jumped by 23%
- Jagsonpal Pharma: Net profit increased by over 700%
- Gravita India: Net profit up by 30%
- All Digitech: Net profit increased by 82%
- Cigniti: Net profit grew by 32%
- Laxmi Organics: Revenue jumped by 13%
- Ujjas Energy: Net profit before exceptional items surged
- Allcargo Terminals: CFS volumes grew by 8%
Promising Business Developments
Companies announced positive advancements:
- Paras Defence: Signed MoU for an Optics Park project
- Zydus Life: Announced FDA Orphan Drug Designation for Usnoflast
- HUL: Approved ice cream operations demerger
- RPP Infra Projects: Received new project contracts
- Waaree Energies: Commenced commercial production of solar modules
- Bharti Airtel: Moody's upgrades ratings to Positive
- Praj Industries: Approved Joint Venture for Compressed Bio Gas Plants
- Tera Software: Order value revised upward
- HUDCO: Signed MoU for potential funding support
- Reliance: Jio reported significant user gains
Neutral Quarterly Results
Some companies reported mixed financial performances:
- Persistent Systems: Revenue and net profit increased slightly
- HUL, BPCL, Pidilite: Net profit missed analyst estimates
- Accelya Solutions: Modest revenue and net profit growth
- Zensar Tech: Quarterly revenue and net profit stable
- Archean Chemical: Invested in Offgrid Energy Labs
"In uncertain market conditions, flexibility and adaptability are key. Companies that can navigate challenges and execute on growth initiatives will continue to thrive," said Alex Jones, a financial analyst.
Other Company Updates
- Sanofi India: Received transfer pricing order from the Income Tax Department
- Suraksha Diagnostic Ltd: Incorporated a subsidiary company
- Abhishek Corporation: Announced sale of spinning and fabric businesses
- Laurus Labs: Received US FDA Form 483
- Crop Life Science: CFO resigns
- Trident Lifeline: Postponed acquisition plans
- Mazdock: Discussions with JNPA remain preliminary
- Shiva Cement: Postal ballot for loan guarantee
- BPCL: Approved development plan for Indonesian oil and gas block
- Sammaan Capital: Opened QIP with floor price set