Asian stocks began the year on a dour note on Thursday as they struggled for traction after a jittery close to 2024.

US stock markets were closed on Wednesday for the New Year 2025 holiday.

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

Source: Equitymaster

At present, the BSE Sensex is trading 78 points higher and NSE Nifty is trading 21 points higher.

Bajaj Finance, Grasim Industries, and Kotak Mahindra are among the top gainers today.

Wipro, NTPC and Britannia hand are among the top losers today.

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

Sectoral indices are trading mixed today with stocks in the auto sector and the IT sector witnessing buying. Meanwhile, stocks in the realty sector and power sector witnessing selling pressure.

The rupee is trading at Rs 85.73 against the US dollar.

In commodity markets, gold prices are trading flat at Rs 77,024 per 10 grams today.
 

Tata Motor's Q3 Sales

Tata Motors sales in the domestic & international market for Q3 FY 2024-25 stood at 2,35,599 vehicles, compared to 2,34,981 units during Q3 FY 2023-24.

Total sales include passenger vehicle sales of 1,39,829 units (up 1%) and commercial vehicle sales of 95,770 units (down 1%).

Girish Wagh, Executive Director, Tata Motors said, Tata Motors Commercial Vehicles registered domestic sales of 91,260 units in Q3 FY25 witnessing a marginal year on year (YoY) decline of ~1% over Q3 FY24 and marking a significant improvement over the 19% YoY decline in sales recorded in Q2 FY25.

Further, sales in December 2024 were ~24% higher than those recorded in November 2024.

Propelled by a resurgence in construction and mining activities post-monsoon, plus the festive season demand, HCV segment witnessed robust sequential quarter on quarter (QoQ) growth in sales during Q3 FY25, even as the YoY sales declined 9% due to limited growth in end-use segments.

In the last month, Tata Motors share price has remained under pressure.

NMDC December Sales Decline

The country's largest iron ore miner NMDC Ltd on Wednesday (January 1) posted a 5.1% year-on-year (YoY) increase in iron ore production for December 2024, reaching 4.71 million tonnes (MT) compared to 4.48 MT in the same period last year.

However, iron ore sales declined by 6.7% YoY to 3.91 MT, down from 4.19 MT in December 2023.

Hyderabad-based NMDC, under Ministry of Steel, is the country's largest iron ore mining company.

NMDC alone caters around 20 per cent to the country's demand for the key steel-making raw material.

The EV battery gold rush has opened up a massive profit opportunity for chemical companies like NMDC.
 

RailTel Bags New Order

Telecom infrastructure provider RailTel Corporation of India Ltd on Wednesday (1 January) said it has received a Rs 784.3 m order from Bharat Coking Coal Ltd (BCCL).

The order, dated December 31, 2024, involves implementing an integrated IT-based security infrastructure alongside various related services.

On December 30, RVNL announced that it has been declared the lowest (L1) bidder for a Central Railway project worth Rs 1.4 bn.

This project involves the design, supply, erection, testing and commissioning of a 132/55 KV traction substation, sectioning posts and sub-sectioning posts in the Bhusaval-Khandwa section.

The contract is aimed at upgrading the 2x25 KV traction system, employing Scott-connected transformers to support a loading target of 3,000 MT.
 

CSB Bank Q3 Update

Thrissur-based private lender CSB Bank Ltd on Wednesday (1 January) posted strong financial growth in the quarter ended 31 December 2024, with total deposits rising by 22.17% year-on-year (YoY) to Rs 334.1 bn, compared to Rs 273.5 bn in the same period last year.

The growth was driven by a 28.10% year-on-year increase in term deposits, which reached Rs 253.7 bn, up from Rs 198 bn. CASA deposits also grew by 6.60% year-on-year to Rs 80.4 bn, compared to Rs 75.4 bn in the previous year.

Gross advances saw a 26.45% year-on-year increase, climbing to Rs 289 bn from Rs 228.7 bn as of 31 December 2023.

Notably, advances against gold and gold jewellery (excluding receivables secured against gold) surged by 36.3% year-on-year to Rs 130 bn from Rs 95.5 bn.

CSB Bank reported a 4% year-on-year (YoY) increase in net profit, reaching Rs 1.4 bn for the second quarter ending 30 September 2024, according to its exchange filing on Thursday.

The lender had posted a net profit of Rs 1.3 bn during the corresponding quarter of the previous fiscal.

The bank's net interest income (NII)-the difference between the interest earned from lending and the interest paid on deposits-saw a 7% growth, rising to Rs 3.7 bn from Rs 3.4 bn in the same quarter of FY24.

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