Asia markets traded mixed on Friday following overnight gains on Wall Street. Japan's Nikkei 225 rose 0.16%, while the Topix index gained 0.11%.

US stock market ended higher on Thursday as investors digested a stack of key earnings reports.

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

Data Source: Equitymaster

At present, the BSE Sensex is trading 149 points higher and NSE Nifty is trading 63 points higher.

L&T, Titan, and Maruti Suzuki are among the top gainers today.

NTPC, ICICI Bank, and Coal India on the other hand are among the top losers today.

The BSE Midcap index is trading 0.5% higher and the BSE Smallcap index is trading 0.3% higher.

Sectoral indices are trading on a mixed note today with stocks in the capital goods sector, power sector, and IT sector witnessing buying. Meanwhile, stocks in the metal sector and the realty sector witnessing selling pressure.

The rupee is trading at Rs 86.7 against the US dollar.
 

ONGC to Explore Hydrocarbon

By the second week of February, Oil and Natural Gas Corporation (ONGC) will begin exploratory drilling for hydrocarbons near the River Ganga in Ballia district.

The project is part of the OALP-VI block under the open acreage licensing policy, with a budget of approximately Rs 850 m for drilling a single well. ONGC has already received environmental clearance for a 302.57 sq km area.

The exploration license for the block is valid until April 2026. The well will be drilled between NH-31 and the River Ganga in Sagarpali village, close to Vaina Rattu Chak, the home of Chittu Pandey, a key leader of the Quit India movement in Ballia.

ONGC stands among the highest dividend paying stock in BSE PSU Index.
 

L&T Q3 Profit Jumps 14%

Engineering and infrastructure giant Larsen & Toubro Ltd. (L&T) reported a net profit of Rs 33.6 bn for the quarter ending 31 December 2024, marking a 14% year-on-year growth.

Consolidated revenues for the quarter stood at Rs 646.7 bn, reflecting a 17% increase, driven by a strong order book and ramped-up execution across its Projects and Manufacturing (P&M) businesses.

International revenues amounted to Rs 327.6 bn, making up 51% of the total revenue,signallingg robust international portfolio execution.

However, L&T's Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) increased by 8.6% year-on-year to Rs 62.6 bn, falling short of the expected Rs 66.4 bn, and margins decreased to 9.7% from 10.5% last year.

L&T also recorded its highest-ever quarterly orders of Rs 1.16 trillion (tn), a remarkable 53% increase from the previous year.

Orders came from diverse sectors such as Thermal Power, Renewable Energy, Power Transmission, Precision Engineering, Minerals & Metals, Water, Commercial Buildings, and Hydrocarbon Onshore. International orders, totalling Rs 620.6 bn, accounted for 53% of the total order inflow during the quarter.
 

Biocon Q3 Results

Bengaluru-based biopharma company Biocon reported a consolidated net profit of Rs 251 m for the third quarter of FY 2024-25 (Q3FY25), reversing the loss of Rs 160 m recorded in the same period last year.

However, the company's profit before tax (PBT) for the quarter declined by 80.8% to Rs 1,559 m.

Biocon's operating revenue for Q3FY25 stood at Rs 3,821 crore, driven by a sustained 14% year-on-year growth in biosimilars, as well as an 11% recovery in research services.

The company's earnings before interest and taxes (EBIT) amounted to Rs 7,870 m, with a margin of 20%.

Biocon's leadership highlighted that the biosimilar business continued its growth momentum during the quarter and is expected to see multiple new product launches starting in Q4FY25. Additionally, Syngene's strong growth rebound positions it well for a solid performance throughout the rest of the year.

Biocon also expects the recovery of its generics business in Q4, driven by the introduction of its first GLP-1 generic in the UK and EU, along with new specialty product launches in the US.
 

PB Fintech Q3 Profit Jumps 88%

PB Fintech, the parent company of financial services platforms Policybazaar and Paisabazaar, reported strong results for the third quarter of fiscal year 2025.

The company posted a remarkable 88.2% increase in net profit, reaching Rs 715 m for the three months ending December 2024, compared to Rs 380 m during the same period last year.

Revenue surged by 48.3%, totalling Rs 12,916 m in Q3 FY25, up from Rs 8,709 m in Q3 FY24.

The company also saw a significant turnaround in its EBITDA performance, posting Rs 277 m in Q3, compared to an EBITDA loss of Rs 255 m in the previous year. The EBITDA margin stood at 2.1%.

During the quarter, the Online Insurance New Premium segment grew by 44% year-on-year (YoY), driven by the introduction of new health and life insurance services. The company earned an insurance premium of Rs 61,350 m, marking a 44% YoY increase, with strong growth in new health and life insurance premiums.

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