SHARP DECLINE IN NIFTY, NIFTY BANK

UPCOMING ECONOMIC DATA

NEWS UPDATES

• Indian stock benchmarks ended lower on January 25with Nifty around 17,900. At Close, the Sensex was down 773.69 points or 1.27% at 60,205.06, and the Nifty was down 226.30 points or 1.25% at 17,892. About 1106 shares have advanced, 2310 shares declined, and 129 shares are unchanged.

• Bajaj Auto Ltd.’s quarterly profit rose, beating analysts’ estimates, due to lower operating costs even as two-wheeler sales volumes fell. The company’s net profit rose 23% to Rs 1,491.4 crore in the quarter ended December, according to its exchange filing. That compares to the Rs 1,379.1 crore consensus forecast of analysts

• Cipla’s net profit rose 10% year-on-year to Rs 801 crore in the quarter ended December, according to its exchange filing. That compares with the Rs 920-crore consensus estimate of analysts. Revenue rose 6% to Rs 5,810 crore against an estimated Rs 6,172 crore. Ex-covid, it grew 11%, said the company in the filing.

• Adani Group, on Wednesday, rejected Hindenburg Research’s report alleging fraud, and said it shows an intention to damage the upcoming follow-on public offer of Adani Enterprises Ltd.

Source: Economic Times,  Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint

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