Asian stocks rose on Thursday as an artificial intelligence-fuelled rally in China and reports of dealmaking activity in Japan's technology sector helped offset headwinds from hot U.S. inflation data.

The S&P 500 fell Wednesday, after data showing an unexpected pick-up in inflation further narrowed the path for Federal Reserve rate cuts.

Here's a table showing how US stocks performed on Wednesday:

Source: Equitymaster

At present, the BSE Sensex is trading 43 points higher and NSE Nifty is trading 21 points higher.

Cipla, Bharat Electronics, and Bajaj Finserv are among the top gainers today.

Hindalco, Tech Mahindra, and Shriram Finance on other hand are among the top losers today.

The BSE Midcap index is trading marginally higher and the BSE Smallcap index is trading 0.2% lower.

Sectoral indices are trading mixed today with stocks in the healthcare sector, banking sector and finance sector witnessing buying.

Meanwhile, stocks in the It sector and media sector witnessing selling pressure.

The rupee is trading at Rs 86.8 against the US dollar.
 

HAL Q3 Results

Hindustan Aeronautics (HAL) on Wednesday reported a 14% rise in consolidated net profit at Rs 14.4 billion (bn) for the third quarter (Q3) of the financial year 2024-25 (FY25) from Rs 12.6 bn reported during the same period last year.

The defense public sector undertaking (PSU) also saw its revenue from operations grow 15% to Rs 69.6 bn in the October-December quarter, compared to Rs 60.6 bn in the year-ago period.

HAL announced a first interim dividend of Rs 25 per equity share with a face value of Rs 5 for FY25.

The record date for the dividend has been set for 18 February, with the payout to eligible shareholders scheduled on or before 14 March.

The earnings announcement comes on the heels of the Indian Air Force (IAF) expressing concerns over delays in the delivery of the Tejas Mk1A fighter jets.

The IAF has placed an order for 83 Tejas Mk1A aircraft to strengthen its fighter fleet.

Godrej Industries Q3 Profit Zooms 77%

Godrej Industries on Wednesday reported a 76.9% year-on-year (YoY) jump in net profit at Rs 1.9 bn in Q3FY24 compared to Rs 1.1 bn a year ago.

Revenue from operations surged 34.4% to Rs 48.2 bn against Rs 35.9 bn in the corresponding period of the preceding fiscal.

At the operating level, EBITDA (earnings before interest, tax, depreciation, and amortization) increased 113.8% YoY to Rs 5.9 bn in the third quarter of this fiscal over Rs 2.8 bn.

The EBITDA margin showed a steep rise to 12.4% in the reporting quarter versus 7.8% in Q3FY24.

Godrej Consumer Products Ltd (GCPL) saw a 14% YoY decline in consolidated net profit (excluding exceptional items and one-offs) due to temporary headwinds, while consolidated sales grew 6%.

Home care revenue increased by 4%, with household insecticides facing seasonal weakness, but air fresheners and fabric care posted strong double-digit volume growth.

Godrej Properties recorded Rs 54.5 bn in booking value for Q3 FY25 from 4.1 million (m) square feet of sales, marking the sixth consecutive quarter with bookings above Rs 50 bn.
 

Muthoot Finance Q3 Results

Muthoot Finance reported a 32.7% year-on-year (YoY) rise in net profit to Rs 13.6 bn for the October-December quarter of FY25, compared to Rs 10.3 bn in the same period last year.

The company's net interest income (NII) surged 42.8% YoY to Rs 27.2 bn, up from Rs 19.1 bn in Q3 FY24.

The gold loan-focused NBFC also delivered a better-than-expected performance.

The NBFC's board of directors also approved fund-raising up to Rs 210.6 bn by issuance of redeemable non-convertible debentures on Wednesday.

The company is closely monitoring the industry situation, viewing it as a transitionary issue that is expected to be resolved in the next couple of quarters.
 

Bharat Forge Declares Interim Dividend

Bharat Forge, a leading auto components manufacturer, reported an 8.4% year-on-year (YoY) decline in net profit for Q3FY25, with earnings dropping to Rs 3.5 bn from Rs 3.8 bn in the same quarter last year.

Revenue from operations stood at Rs 20.9 bn, reflecting a 7.4% decline from Rs 22.6 bn in Q3FY24.

On the operational front, EBITDA slipped 8% YoY to Rs 6.1 bn, compared to Rs 6.6 bn in the previous year, while the EBITDA margin saw a slight dip from 29.3% to 29.1%.

The board has declared an interim dividend of Rs 2.5 per share (125%) on equity shares with a face value of Rs 2 each.

The record date for the dividend is set as 18 February, and the payout is scheduled on or before 12 March 2025.

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