After opening the day higher, the Indian benchmark turned negative as the session progressed and ended the day lower.

Benchmark equity indices, BSE Sensex and NSE Nifty50, ended the week's last trading session on a lower note.

At the closing bell, the BSE Sensex closed lower by 330 points (down 0.4%).

Meanwhile, the NSE Nifty closed 114 points lower (down 0.5%).

HUL, Britannia Industries, and Eicher Motors are mong the top gainers today.

Trent, BPCL, and Cipla on the other hand, were among the top losers today.

The GIFT Nifty was trading at 23,114, down by 142 points at the time of writing.

The BSE MidCap index ended 1.6% lower and the BSE SmallCap index ended 2.2% lower.

Sectoral indices were trading mixed on Thursday with stocks in the FMCG sector and the media sector witnessing buying. Meanwhile, the stocks inthe  auto sector and oil & gas sector witnessing selling pressure.

The rupee is trading at 86.21 against the US$.

Gold prices for the latest contract on MCX are trading 0.4% higher at Rs 79,958 per 10 grams.

Meanwhile, silver prices were trading 0.8% higher at Rs 91,892 per 1 kg.
 

KFin Tech Shares Soars. Here's Why.

Shares of KFin Tech surged by more than 8% on 24 January 2025, following the release of its Q3FY25 results. This marks a strong rebound after a month-long downtrend that saw the stock drop by nearly 20% from its 2024 highs.

The company expressed confidence in maintaining a growth rate of over 30%, with an increase in retail participation bolstering its business and assets under management (AUM).

KFin Tech reported a revenue of Rs 290 crore, reflecting a 32.6% year-on-year (YoY) increase, while its net profit surged by 34.9% YoY to Rs 90.18 crore. The company also maintained a robust EBITDA margin of 45%, with management indicating that it expects to sustain these levels moving forward.

Additionally, KFin Tech's revenue from international and other investor solutions grew by an impressive 53% YoY, contributing to the overall strong performance.
 

Gland Pharma Shares Fall Over 3%

Moving on to news from the pharma sector, shares of Gland Pharma fell over 3% intraday on 24 January 2025. This comes after the National Stock Exchange (NSE) said that it will be excluding shares of Gland Pharma from the Futures & Options (F&O) segment.

The NSE, in its statement, revealed that starting 31 January 2025, shares of both Castrol India and Gland Pharma will be removed from the F&O segment.

This move comes ahead of Gland Pharma's earnings announcement for the quarter and nine months ending 31 December 2024, scheduled for 3 February 2025.

A circular shared by the NSE, modifying its previous notice from 7 January, cited the companies' failure to meet one of the eligibility criteria for inclusion in the F&O segment. While the NSE had initially proposed to include six companies, including Gland Pharma and Castrol India, in the F&O segment, this decision now has been reversed for the two stocks.

Mphasis Shares Surge 4% on Q3FY25 Earnings

Shares of Mphasis jumped over 4% on 24 January 2025, following the company's positive earnings announcement for the December quarter.

Mphasis reported a 6.7% year-on-year increase in Q3FY25 revenue, which stood at Rs 35.6 bn.

The company's consolidated net profit saw a strong growth of nearly 15%, reaching Rs 4.3 bn (US$ 49.5 m) for the quarter, reflecting a 1% year-on-year rise.

The company's operating income grew by 0.23% quarter-on-quarter and 9.73% year-on-year, demonstrating consistent growth. Mphasis also saw significant growth in its total contract value (TCV), which surged 46% to US$ 351 m during the quarter, highlighting strong demand for its services.
 

Tejas Networks Shares Crash Over 9%

Moving on to news from the telecom sector, Tejas Networks' share price dropped over 9% in 24 January trade even as the company returned to the black in the third quarter of the current fiscal. The Tata Group-owned telecommunications equipment maker reported a net profit of Rs 1.7 bn for Q3FY25.

It had earlier reported a net loss of Rs 448.7 m in the same period a year ago.

The company's net profit is however a decline of 40%, sequentially from Rs 2.8 bn it reported in Q2FY25. Tejas Networks also reported a decline in its order book and an increase in inventory levels for the third quarter of the current fiscal.

The stock reacted sharply to the weak Q3 show with the counter dropping 9.3% to quote an intraday low of Rs 994.45 per share on the NSE.

It had opened a gap-down with a loss of 4.5%. The stock has been losing for the last two days.

The company's order book stands at Rs 26.8 bn, significantly lower than the five-quarter average of Rs 77 bn.

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