After opening the flat, the Indian benchmark gained as the session progressed, eventually closing more than 225 points higher.

India's benchmark indexes inched higher on Thursday, led by state-owned companies and non-bank lender Bajaj Finance, while a drop in Tata Motors capped gains.

At the closing bell, the BSE Sensex closed higher by 227 points (up 0.3%).

Meanwhile, the NSE Nifty closed 86 points higher (up 0.6%).

Bharat Electronics, Cipla, and Bharti Airtel are among the top gainers today.

Tata Motors, Adani Ports, and Adani Enterprises on the other hand, were among the top losers today.

The GIFT Nifty was trading at 23,421.5, up by 268 points at the time of writing.

The BSE MidCap index and BSE SmallCap index ended flat.

Sectoral indices were trading mixed on Thursday with stocks in the telecom sector and realty sector witnessing buying. Meanwhile, the stocks in the IT sector and consumer durables sector witnessing selling pressure.

The rupee is trading at 86.63 against the US$.

Gold prices for the latest contract on MCX are trading 0.6% higher at Rs 81,333 per 10 grams.

Meanwhile, silver prices were trading 1% higher at Rs 92,821 per 1 kg.
 

Why SRF Share Price is Rising?

In news from the textiles sector, shares of SRF surged over 4% on 30 January, reaching a 52-week high of Rs 2,786.90, driven by positive commentary from the management following its Q3 results.

SRF anticipates a strong recovery in Q4, with improved demand across both its specialty chemicals and fluorochemicals segments.

The specialty chemicals segment had been impacted by inventory overhang from agrochemical customers, but a gradual recovery in demand is now underway. The company expects a significant boost in agrochemical demand in Q4, an improvement from Q3 levels, and maintains a strong product pipeline.

Meanwhile, the fluorochemicals segment is expected to perform better, driven by higher volumes of hydrofluorocarbons.

The management also remains cautiously optimistic about the packaging films business, with the demand-supply imbalance set to ease compared to previous quarters.

Although SRF continues to have a strong presence in the packaging industry, aluminum foil margins faced pressure due to lower-cost imports from China and Thailand. Chairman and MD Ashish Bharat Ram expressed confidence in ending the fiscal year on a strong note.

Info Edge to Consider Stock Split

Moving on to news from the software sector, shares of Info Edge (India) rose by 3% on 30 January, following the announcement that the company's board of directors would consider a stock split in an upcoming meeting.

This marks the first time in the company's history that it has proposed such a corporate action. Although Info Edge has issued bonus shares in the past, including in a 1:1 ratio in 2010 and 2012, it has never undertaken a stock split before.

Additionally, the board will review the un-audited standalone and consolidated financial results for the quarter and nine months ending 31 December 2024.
 

Why Fertiliser Stocks are Rising

Moving on to news from the fertilizer sector, fertilizer stocks experienced a surge in activity just ahead of the 2025 Union Budget presentation on 30 January.

Key players like RCF, Madras Fertilizers, Mangalore Chemicals and Fertilizers, National Fertilizers, Paradeep Phosphates, and Coromandel International saw their shares rise by 2 to 3% in a generally bullish market.

Market experts are anticipating a Rs 1.7 tn allocation towards fertilizer subsidies in the upcoming budget, a slight increase from the Rs 1.64 tn set aside in FY25.

This will be the second budget under the Modi 3.0 administration, and there are expectations of a greater focus on organic alternatives, particularly through increased funding for the Market Development Assistance (MDA) scheme.

Launched in 2023, the MDA scheme promotes organic fertilizers, and the government plans to raise its budget allocation to Rs 1.5 bn in FY26, up from Rs 1 bn in FY25.

The scheme aims to encourage the use of organic fertilizers and manure, contributing to India's long-term goals for sustainable agriculture.

The broader strategy is to reduce dependence on chemical fertilizers like urea and NPK, pushing for a shift towards organic and alternative solutions.
 

JK Paper Shares Nosedive 11%. Here's why

Moving on to news from the paper sector, shares of JK Paper fell sharply by 11%, dropping to Rs 340 per share on 30 January, following the company's disappointing third-quarter (Q3FY25) results.

The company reported a significant 72% year-on-year (YoY) decline in net profit, which plummeted to Rs 0.65 bn in Q3FY25 from Rs 2.35 bn in the same period last year. Revenue from operations also saw a decline, slipping by 4.4% YoY to Rs 16.31 bn, while EBITDA stood at Rs 1.89 bn.

Total expenses for the quarter rose slightly, reaching Rs 15.7 bn compared to Rs 15.5 bn in the previous quarter.

Finance costs amounted to Rs 0.80 bn, while depreciation expenses were recorded at Rs 1.14 bn.

The management attributed the weak performance to the sharp rise in import prices, which negatively impacted sales volumes and realizations in the paper and board segment.

Additionally, the ongoing high wood costs have led to a significant drop in profits for the quarter.

More By This Author:

Sensex Today Trades Flat; Nifty Above 23,150
Sensex Today Rallies 632 Points; Nifty Above 23,150
Sensex Today Trades Higher; Nifty Above 23,000