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Indian equities opened lower on Wednesday, extending the previous session’s sharp selloff and pushing the Sensex and Nifty to over three-month lows. Persistent foreign fund outflows, mixed corporate earnings, and ongoing global trade and geopolitical concerns continue to dampen market sentiment.
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Indian government bonds saw gains early Wednesday, driven by expectations of Reserve Bank of India (RBI) secondary market purchases and potential open market operations. The benchmark 10-year bond yield dipped slightly as traders anticipate RBI intervention to manage liquidity and support demand amid global pressures.
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Shares of Tata Teleservices (Maharashtra) have fallen more than 6% in two sessions after its December-quarter results, as investors looked beyond a sharp narrowing of losses and focused on an 11.5% year-on-year decline in revenue and weak technical indicators that signalled continued near-term pressure on the stock.
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United Spirits shares dropped more than three percent on Wednesday. The Diageo-controlled liquor maker’s third-quarter revenue growth did not excite investors. The company’s net profit rose by over twenty-four percent to Rs 418 crore. However, revenue from operations saw a modest increase of two point seven one percent.
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Jammu and Kashmir Bank is on track for a fourth consecutive year of record profits, despite facing challenges like the Pahalgam attack and floods. The bank reported a 10.4% year-on-year rise in net profit to Rs 586.73 crore for the third quarter, driven by robust growth in advances and deposits, and improved asset quality.
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Amagi Media Labs made a weak market debut, listing at a 12% discount despite strong subscription demand. The Rs 1,789 crore IPO comprised a fresh issue of shares worth Rs 816 crore and an offer for sale of Rs 972.62 crore. The IPO was open for subscription between January 13 and January 16, with allotment...
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Shoppers Stop shares plummeted over 12% after the retail chain reported a 69.13% decline in consolidated net profit to Rs 16.12 crore for the December quarter of FY26. This drop was attributed to a shifted festival period and uneven consumption trends, despite a marginal 2.63% increase in revenue from operations.
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On January 20, five NSE-listed stocks with a market capitalisation above Rs 1,000 crore featured in the RSI Trending Up scan after gaining over 2%. An RSI move above 50 from lower levels signals improving momentum, indicating rising buying interest and potential near-term upside, which traders often track for bullish opportunities.
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LIC and GQG reshuffled their Adani Group portfolios in the December quarter. LIC reduced holdings in Adani Enterprises and Adani Ports but increased its stake in ACC. GQG booked profits in Adani Ports and Adani Power. Foreign Institutional Investors saw mixed movements across Adani stocks. Mutual funds also adjusted their positions.
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Shares of Cupid Ltd and Baazar Style Retail are set to remain in focus after Cupid proposed a strategic investment in the retailer through convertible equity warrants. Baazar Style Retail’s board approved a preferential issue of 1.01 crore warrants at Rs 328.25 apiece, raising Rs 331.53 crore in cash, subject to regulatory and shareholder approvals.
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