Stocks To Watch: Indus Towers, HPCL, Adani Green, Shriram Finance, Rain Industries in focus on Jan 24

Stocks To Watch , January 24: GIFT Nifty, an early indicator for domestic equity market, was trading 9.50 points or 0.04% higher at 23,303, suggesting a flat start for the domestic indices NSE Nifty 50 and BSE Sensex on Friday, January 24.

Overnight, all the three US indices - Dow Jones, Nasdaq and S&P500 closed in the green.

Earlier on Thursday, the BSE Sensex rose 115.39 points, or 0.15%, to close at 76,520.38. Likewise, Nifty 50 gained 50 points, or 0.22% to end at 23,205.35.

Shares of Indus Towers, Hindustan Petroleum, Adani Green Energy, Shriram Finance, Rain Industries among others will be in focus on January 24.

Indus Towers reported a consolidated net profit of Rs 4,003.2 crore for Q3, up nearly 160% from Rs 1,540.5 crore last year, driven by a Rs 3,024 crore write-back of doubtful receivables from a major customer. Revenue rose 4.8% year-on-year to Rs 7,547.4 crore.

HPCL reported a net profit of Rs 3,023 crore for Q3, significantly higher than the Rs 631 crore profit in the previous quarter. Revenue stood at Rs 1.10 lakh crore, up 10% QoQ.

Mphasis reported a net profit of Rs 427.8 crore for Q3, up 1% from Rs 423.3 crore in the previous quarter. Revenue rose 0.7% to Rs 3,561.3 crore, while EBIT stood at Rs 545.5 crore, a marginal increase from Rs 544.2 crore in Q2 FY25. Operating margin dipped slightly to 15.3% from 15.4% in the previous quarter.

Adani Green Energy's Q3 net profit rose over 85% to Rs 474 crore, up from Rs 256 crore a year ago. Revenue grew 2.3% to Rs 2,365 crore, while EBITDA declined 4% to Rs 1,601 crore compared to Rs 1,666 crore in the same period last year.

Greaves Cotton reported a 64% year-on-year (YoY) rise in net profit to Rs 20.8 crore for the December 2024 quarter, up from Rs 12.7 crore a year ago. Revenue grew 12.8% YoY to Rs 750.6 crore compared to Rs 665.4 crore in the same period last year.

Rain Industries' subsidiary, Rain Carbon Canada Inc., is collaborating with Green Graphite Technologies Inc. to advance the production of high-purity natural graphite for EV battery anodes. Green Graphite Technologies has secured $682,000 in funding from Ontario Vehicle Innovation Network’s R&D Partnership Fund to refine and scale up its proprietary process, a key step in meeting the stringent requirements for next-generation lithium-ion batteries used in electric vehicles.

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