Keystone Realtors Q3 Business Update

Keystone Realtors, which operates under the brand Rustomjee, has reported strong performance for Q3, with a 40% increase in pre-sales, reaching Rs 863 crore compared to Rs 616 crore in the same quarter last year.

The company also saw a 20% growth in collections, amounting to Rs 542 crore, up from Rs 452 crore. Additionally, the area sold in Q3 increased by 10%, totaling 4.1 lakh square feet, compared to 3.7 lakh square feet in the previous year.

Shares were trading 0.2% higher at 11:20 am. It rose as much as 3% intraday.

Stock Market Live Updates: Nifty, Sensex Drop 0.6%

Indian benchmark indices are trading lower.

The Nifty 50 and BSE Sensex was down 0.6% at 23,547 and 77,707, respectively.

Only two of the 12 sectoral indices on the NSE traded in green. Nifty FMCG surged while Nifty Oil and Gas dipped.

Borosil Renewables Share Price Locked In Upper Circuit

Borosil Renewables share price was locked in the upper circuit of 5% after it announced 50% capacity expansion in manufacturing of solar glass. The stock was at Rs 603.10 apiece.

Rupee Vs Dollar: Indian Currency Hits Another Low

Rupee weakened by 9 paise to a record low of 85.94 against the US Dollar. It closed at 85.85 on Wednesday.

The pressure comes amid foreign capital outflows, oil prices edging higher and globally resurgent dollar.

IPO News: SEBI Might Be Looking At Lapse By SME IPOs’ Merchant Bankers — Exclusive

  • Recently the regulator received an anonymous complaint against SME IPO merchant bankers

  • The complaint dated Dec 4 was sent via mail to SEBI employees.

  • The regulator may be tightening grip on merchant bankers dealing with SME IPOs

  • There are instances of lapses related to merchant bankers in SME IPOs, as per regulatory sources

  • SEBI has received tips and acted promptly previously in such instances with Trafiksol’s IPO

  • Rosmerta Digital Services’ IPO was also postponed due to such complaints.

Sources told NDTV Profit and review of the complaint mail.

Bajaj Auto Share Price Up

Bajaj Auto share price came out of its four-day losing streak and rose on Thursday, after getting a rating upgrade from CLSA. The brokerage has an ‘outperform’ rating as the stock saw steep correction in the near past. It previously had an ‘underperform’ rating.

The share has fallen consecutively for four consecutive months (including January till date). From its September close, it is trading 29% down.

The stock rose as much as 2.96% to Rs 8,898 per share.

Read story here.

Shriram Finance Share Price Down Before Stock Split Ex-Date

Shriram Finance share price swung between gains and losses during early trade on Thursday. The stock is down 0.7% at Rs 2,878.8 apiece as of 10:05 a.m.

The change comes a day before the scrip trades at ex-date for stock split from Rs 10 per share of face value to Rs 2. Today is the last day to buy shares to be eligible for the stock split.

Nifty IT Down 0.3% Ahead Of TCS Q3 Result

Information technology stocks are down ahead of TCS Q3 results. While largecaps like Infosys and TCS are trading higher, counters of Wipro, Tech Mahindra and LTIMindtree are down.

SRF, Navin Fluorine Share Prices Up

The share price of SRF and Navin Fluorine are up over 11% in early trade on reports of that US gas distributors will raise prices for refrigerant gases. This can benefit earnings.

NMDC Share Price Down

NMDC share price fell nearly 1% in early trade on Thursday after tge company cut iron ore lumps and fines prices by 5.5%-6.4%. The price cuts come after company hiked prices in late October 2024. The price cuts could be seen as efforts to increase volumes.

Nifty 50 Today Live: Benchmark Down 0.3%

The benchmark Nifty 50 is trading 0.3% or nearly 80 points lower at 23,600.

The index will witness high volatility as Thursday is the weekly contract expiry.

Swiggy Share Price Jumps After Bernstein 

Swiggy share price jumped as much as 6.3% in early trade on Thursday after it received an ‘outperform’ rating from Bernstein Research which initiated coverage on the stock. The platform will be among the winners in India’s rapidly booming quick commerce space, it said.

The Bengaluru-headquartered aggregator will benefit from the structural shift to super-fast delivery models, according to a Bernstein note.

The brokerage has a target price of Rs 635 per share, implying an upside of 25% from the previous close.

Read more here.

TCS Share Price Lower Ahead Of Q3 Result

Tata Consultancy Services Ltd.’s share price fell 0.2% on market open on Thursday, ahead of its third quarter financial results. The scrip was trading at Rs 4,109 apiece as of 9:24 a.m. and the relative strength index was 42.

The information technology giant is likely to clock a net profit of Rs 12,540 crore, a 5.3% sequential rise, and revenue of Rs 64,754 crore, a 0.8% growth, for the quarter ending in December, according to a survey of analysts’ estimates done by Bloomberg.

Read more here.

Stock Market Live Updates: Nifty, Sensex Opens Flat

Indian benchmark indices opened flat on Thursday after a marginally lower close in the previous session.

The Nifty 50 started 0.06% lower at 23,674.75.

The BSE Sensex opened 0.07% higher at 78,206.21.

Only four of the 12 sectoral indices on the NSE traded in green. Nifty Auto surged while Nifty PSU Bank dipped.

Bajaj Auto Share Price Target: CLSA Sees 10% Upside

CLSA has upgraded Bajaj Auto from “Underperform” to “Outperform,” setting a price target of Rs 9,493, offering a 10% upside. The upgrade follows a steep 32% correction in the stock over the past four months and the improving prospects of its electric two-wheeler (e-2W) business.

Bajaj Auto’s market share in e-2Ws surpassed 25% in December, driven by the launch of a more affordable Chetak variant. CLSA believes the company deserves a 10-20% premium multiple over its long-term average. The firm expects a 6% compound annual growth rate for motorcycle volumes in FY24-27, compared to an 8% CAGR for the industry.

Real Estate Stocks In Focus: Jefferies On India Property

Jefferies remains positive on the Indian property market as it enters the fifth year of the current property upcycle. Residential demand remains strong, and the firm expects volume growth to pick up, driving a 15-20% increase in value sales in 2025. Potential rate cuts by the Reserve Bank of India are expected to further boost demand, particularly in the mid-income segments.

The office markets are also expected to continue recovering, supported by strong demand from global capability centres and Indian corporations. Additionally, strong balance sheets among property developers are seen as a key factor supporting valuations in the sector.

  • Preferred Picks: DLF, Godrej Properties and Lodha

  • Maintain Buy on DLF, target price Rs 1,000 (+23.3%)

  • Maintain Buy on Macrotech Developers, revised target price Rs 1,615 (+20.4%)

  • Maintain Buy on Godrej Properties, target price Rs 3,750 (+41.4%)

Other Key Rating Changes:

  • Maintain Hold on Oberoi Realty, revised target price Rs 2,050 (-9.7%)

  • Maintain Underperform on Prestige Estates, revised target price Rs 1,420 (-10.3%)

Yield On The 10-Year Bond Opens Flat

The yield on the 10-year bond opened flat at 6.78%. It closed at 6.77% on Wednesday.

Source: Bloomberg

Rupee Versus Dollar: INR Opens At Record Low

Rupee weakened by 4 paise to open at 85.89 against the US Dollar. It closed at 85.85 on Wednesday.

Source: Bloomberg

Aditya Birla Real Estate Share Price To Be In Focus

Aditya Birla Real Estate clarification on Adverse Supreme Court Verdict

  • Worker’s colony land parcel of 10 acres owned by ABREL.

  • Piece of land under ABREL’s control was in litigation with BMC.

  • As per deed, land was to be handed over to ABREL post expiry of lease (28 years).

  • Land wasn’t conveyed to ABREL and went into litigation.

  • In 2022, the Bombay HC directed BMC to handover a 6.31 acre leasehold land in Lower Parel to company.

  • On Jan 7, the SC overturned this Bombay HC ruling.

  • Company says that there is no immediate material impact of SC ruling.

What brokerages say?

Antique Broking on Aditya Birla Real Estate

  • Maintain ‘Buy’, revised target price Rs 3,448 vs Rs 3,804 earlier. It implies 54.6% upside to previous close.

  • SC verdict on the 10-acre Worli land a minor setback.

  • Supreme Court reversed order, asked co to handover land to BMC.

  • Earlier the High Court ruled in favor of ABREL.

  • Estimate around 10% NAV impact, reduce EV/embedded EBIDTA to 11.75 times from 13 times.

  • Impact negligible as strong project addition expected to continue.

Nomura on Aditya Birla Real Estate

  • Maintain ‘Buy’, revised target price Rs 3,100 vs Rs 3,700 (+39.1% upside)

  • Shares have corrected by ~17% over the past 3 months due to:

  • Delayed 3QFY25 launches despite festive season.

  • Adverse ruling by the Supreme Court reversing High Court decision

  • Volatility in Indian equity markets

Continue to Reiterate Buy, given:

  • Management maintains Rs 7,000 cr presale guidance for FY25.

  • Impact from dverse SC decision to be limited to around 5% of residential GDV.

  • Ruling does not impact the near/medium term plans for projects in Worli.

  • Cut target price to Rs 3,100 (from Rs 3,700) to account for the SC ruling.

Stock Market Live Updates: HSBC Cuts India To ‘Neutral’

HSBC has downgraded its outlook on India to “Neutral” while upgrading Hong Kong to “Overweight.” The bank cites a recovery in Mainland China as a key factor, while India’s growth is showing signs of slowing.

Despite an impressive 25% annualized growth, India’s profits have softened, and valuations are considered elevated at 23x.

Key economic indicators, such as PMI numbers, goods and services tax collections, and auto sales, have disappointed, leading HSBC to forecast limited market returns. While India remains the strongest growth story among emerging markets, investors are likely to re-evaluate their positions, putting downward pressure on the market.

Reliance Industries Share Price: Goldman Sachs Lowers Target

View On Share Price

  • Share pricing in overly pessimistic scenario.

  • Sell-off in RIL’s share is overdone.

  • Stock price at brokerage’s bear case scenario.

What Is Goldman Optimistic About?

  • Brokerage still sees return expansion for RIL in FY26.

  • Jio’s return already inflecting.

  • Expect FY26 Ebitda to grow 24% year on year.

  • Cash return on cap invested (CROCI) to expand in FY26 and 27.

  • Positive on refining margin improvement, telecom tariff hike in FY26, new energy starting operations.

What’s Not Working For RIL?

  • RIL’s return inflection thesis taking longer than expected

  • Retail segment taking longer to inflect returns, paid to persist through Q4.

  • Q3 crore Ebitda to remain largely flat.

  • Lower FY25-27 Ebitda estimates by up to 4%.

Rupee Vs Dollar: Currency Level To Watch

The rupee weakened 13 paise against the US dollar to 85.85 on Wednesday. It opened weak and traded a 85.81-85.87 range intraday.

Today, rupee is likely to open around 85.92 and trade a 85.85-86.10 range intraday with weakening bias.

The three-month At-the-Money-Forward option or ATMF implied volatility rose 13 basis points to 3.13%. One year forward yield rose 10 basis points to 2.69%.

The dollar index is down 0.1% to 108.99.

Stocks In News: ONGC Share Price Target From Citi

Citi has maintained a “neutral” rating on ONGC with a target price of Rs 280, offering a potential upside of 6%.

The recent contract award to BP is expected to lead to production upside at the Mumbai High field, as ONGC plans to hire BP Exploration to address the 7-8% year-on-year natural decline rate. The collaboration aims to boost cumulative production by up to 60% over the next decade.

If successful, this initiative could generate a net present value (NPV) accretion of $3 billion. However, much depends on the execution of the contract and the associated costs involved, Citi said.

Stock Market Live: Major Stocks In News

  • Tata Motors: JLR shipped more cars, but fewer were registered in October-December 2024, even as supply disruptions eased. Wholesales of the luxury unit of India’s Tata Motors Ltd. rose 3% over the year-ago period to 104,427 units in the third quarter of the fiscal ending March 2025. Sequentially, dispatches were up 20%. Registrations of JLR cars fell 3% year-on-year to 106,334 units in October-December 2024.

  • BHEL: The company has successfully commissioned two units of a hydroelectric project in Bhutan.

  • Poonawalla Fincorp: The company has approved raising up to Rs 190 crore through bonds.

NMDC Share Price To Be In Focus

  • NMDC cuts iron ore lumps and fines prices by 5.5%-6.4%.

  • Price cuts come after company hiked prices in late October 2024.

  • Potential reason for price cuts: lower iron ore prices, weaker volumes.

  • Iron ore future prices down 9% in past month, 10% since October.

  • NMDC’s December sales volume were 6.6% YoY lower.

  • Informist sources suggest that NMDC could miss FY25 sales volume target by 8-10%.

  • Price cuts could be seen as efforts to increase volumes.

Tata Motors Share Price: Emkay Hikes Target

Emkay has maintained its “Buy” rating on Tata Motors, with a revised target price of Rs 950, down from Rs 1,000, offering a potential upside of 19.5%. The company is expected to benefit from normalized production levels and a strong product mix, which should drive a sharp quarter-on-quarter margin improvement.

Emkay has lowered its earnings per share (EPS) estimates for India PV by approximately 4.5% for FY26E and 2.5% for FY27E. However, Jaguar Land Rover remains on track to deliver £1 billion in free cash flow this year, supported by a net-cash balance sheet.

Nifty Pullback Likely To Continue Above 23,500

The NSE Nifty 50 can continue its pullback and information-technology stocks are expected to be in focus as the earnings season for the third quarter of the current financial year begins, according to analysts.

If the Nifty is trading above 23,500, the pullback formation is likely to continue, according to Shrikant Chouhan, head equity research at Kotak Securities. “On the upside, it could bounce back to around 23,800.”

The gains can continue, potentially driving the index towards the 200-day simple moving average, which is around the 23,925 level, Chouhan said. “The sentiments could change if Nifty 50 falls below 23,500 levels and traders may prefer to exit out from the trading long positions.”

Read more here.

Stock Market News Live: F&O Cues For Nifty

The Nifty January futures were down by 0.08% to 23,776.35 at a premium of 87 points, with the open interest up by 2.19%.

The open interest distribution for the Nifty 50 Jan. 9 expiry series indicated most activity at 24,000 call strikes, with the 23,000 put strikes having maximum open interest.

Stock Market News Live: GIFT Nifty Above 23,700

The GIFT Nifty was trading above 23,700 early Wednesday. The futures contract based on the benchmark Nifty 50 was down 0.02% or 4 points lower at 23,719.5 as of 7:19 a.m.

Indian equities sailed through a volatile session on Wednesday to end flat as the benchmark Nifty found vital support. A reversal of declines in information-technology stocks helped offset losses in pharma and financials.

The NSE Nifty 50 ended 18.95 points or 0.08% lower at 23,688.95, while BSE Sensex lost 50.62 points or 0.06% to close at 78,148.49. During the session, the Nifty declined as much as 0.89% to an intraday low of 23,496, while the Sensex fell 0.91% to 77,486.

. Read more on Markets by NDTV Profit.Indian benchmark indices opened flat on Thursday after a marginally lower close in the previous session. The benchmark Nifty 50 will see volatility on Thursday’s weekly expiry.  Read MoreMarkets, Business, Notifications 

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