Asian markets traded lower on Friday following overnight weakness on Wall Street and as investors await key economic data from China.

Japan's Nikkei 225 fell 0.2%, while the Topix declined 0.5%.

US stock market ended lower on Thursday as investors eyed the most recent corporate earnings and gauged economic data.

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

Source: Equitymaster

At present, the BSE Sensex is trading 354 points lower and NSE Nifty is trading 92 points lower.

Reliance Industries, Hindalco, and Coal India are among the top gainers today.

Infosys, TCS and M&M hand are among the top losers today.

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

Sectoral indices are trading mixed today with stocks in the metal sector and oil & gas sector witnessing buying. Meanwhile, stocks in the IT sector, finance sector, and auto sector witnessing selling pressure.

The rupee is trading at Rs 86.57 against the US dollar.

In commodity markets, gold prices are trading marginally lower at Rs 79,147 per 10 grams today.
 

Reliance Industries Q3 Results

Reliance Industries Ltd. (RIL), a major player in the Nifty 50, reported strong results for the December quarter after market hours on Thursday, 16 January. The company demonstrated impressive performance, particularly in its O2C (Oil-to-Chemicals) and Retail segments, while its Telecom and Oil & Gas businesses met expectations.

Revenue from the O2C segment grew by nearly 6% year-on-year (YoY), reaching Rs 1.5 tn, up from Rs 1.4 tn in Q3 FY24.

The company's Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) rose by 12% sequentially, surpassing the estimated 8% growth.

However, margins slightly contracted, dipping to 9.6% from 10%.

The O2C business benefited from improved gross refining margins (GRMs), which increased to US$ 7.6 per barrel, compared to US$ 5.6 per barrel in the previous quarter.

Singapore GRMs also saw an uptick, rising to US$ 5 per barrel from US$ 3.6 in Q2 FY25. Brent crude prices averaged lower at US$ 74.7 per barrel, down from US$ 80.3 per barrel sequentially.

Here's how Reliance share price has performed in the past 1 year.

With the share price seeing a downfall in past year, it stands among the Top 5 Undervalued Solar Stocks that are Too Cheap to Ignore Right Now.
 

Infosys Q3 Results

Infosys, India's second-largest IT services company, reported a strong third-quarter (Q3) performance for FY25, driven by an uptick in discretionary spending in key markets like the US and Europe.

As a result, the company has raised its revenue guidance for FY25 to 4.5-5%, up from the previous estimate of 3.75-4.5% provided in Q2 FY25.

This marks the third revision of its guidance.

In the fourth quarter of FY24, Infosys had initially forecasted a 1-3% revenue growth, which was later revised to 3-4% in Q1 FY25. Following the Q2 FY25 results, the company once again raised its guidance.

The positive aspect of this revision is that both the lower and upper ends of the guidance have been increased, suggesting a rebound in growth momentum.

For Q3 FY25, Infosys reported a revenue of Rs 417.6 bn, reflecting a 7.6% year-on-year (YoY) growth. Additionally, the company saw an 11.4% YoY rise in its net profit, signalling improved client spending and overall business performance.
 

SpiceJet to Pay Lessor

The Delhi High Court has directed SpiceJet to pay US$ 2.67 m to French engine and aircraft lessor Team France 01 SAS within a week due to non-payment of dues for three leased aircraft.

The total amount owed to Team France stands at US$ 6 m. After the payment of US$ 2.7 m, the remaining balance of US$ 3.33 m must be deposited in the high court in an interest-bearing fixed deposit within three weeks.

The three aircraft have already been returned to the lessor.

SpiceJet Chairman and Managing Director, Ajay Singh, appeared before the court, which had previously summoned him.

The airline's counsel had acknowledged the US$ 2.67 m default and requested an extension of time, adding that they plan to raise US$ 357 m.

The lessors had filed a case against SpiceJet in December, claiming outstanding dues exceeding US$ 20 m for the engines.
 

HFCL Bags New Order

HFCL, a domestic telecom equipment manufacturer, secured an advance work order (AWO) worth approximately Rs 25 bn on Thursday.

The order, awarded by Bharat Sanchar Nigam Limited (BSNL), involves the design, supply, construction, installation, upgrading, operation, and maintenance of the middle-mile network for BharatNet Phase III in the Punjab telecom circle.

The contract will be executed under the Design, Build, Operate, and Maintain (DBOM) model, with the construction phase scheduled for completion within three years. Following this, HFCL will oversee a 10-year maintenance contract.

The operational expenditure (opex) will be 5.5% per annum of the capital expenditure (capex) for the first five years, increasing to 6.5% per annum for the subsequent five years.

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