FOMO To FMA -Markets Balance on a Tightrope: Global Cues Soft, Commodities Roar, Earnings Decide the Winners

Global Market Futures (as of 06:00 AM IST)
US Market (Futures)

• Nasdaq: -0.33%
• Dow Jones: -0.34%
• S&P 500: -0.27%

European (Futures)

• Ftse 100: -0.08%
• Cac 40: -0.03%
• Dax : +0.75%

Asian (Live Markets)

• NIKKIE 225: -0.17%
• KOSPI: +0.43%
• ASX 200: +0.29%

Gift Nifty: 25457.00 (-0.23%)

FII and DII Trading Activity January 29, 2026 in Cash market:
FIIs / FPIs: Net Sell of ₹393.97 crore
DIIs: Net Buy of ₹2,638.76 crore

Commodity Market Updates:
International commodity markets traded mostly higher, with strong momentum across metals and selective gains in energy. Gold prices surged, with spot gold trading near 5,466.56, while XAU/USD rose to around 5,437.68, reflecting increased safe-haven demand. Silver outperformed, climbing over 3% to approximately 117.87, signaling robust investor interest. Copper also strengthened, trading close to 6.3420, supported by steady industrial demand expectations. In energy markets, Brent crude jumped sharply to about 69.71, posting gains of more than 3% amid supply and demand optimism. WTI crude remained largely flat near 65.41, while natural gas edged slightly higher to around 3.885. Overall, markets showed a broadly positive tone led by metals.

Results Today:
Bajaj Auto, NTPC, Power Grid Corporation of India, Nestle India, Bank of Baroda, Meesho, Ajanta Pharma, Ambuja Cements, Ashoka Buildcon, Aster DM Healthcare, Antony Waste Handling Cell, Brigade Enterprises, Cholamandalam Investment and Finance Company, Exide Industries, Glenmark Pharmaceuticals, Jindal Steel, KEC International, Dr Lal PathLabs, LIC Housing Finance, National Aluminium Company, New India Assurance Company, Steel Authority of India, and Welspun Corp will release their quarterly earnings today.

Results on January 31
Sun Pharmaceutical Industries, Gail (India), Affle 3I, Bharat Dynamics, Belrise Industries, Delhivery, Finolex Industries, IDFC First Bank, R R Kabel, Studds Accessories, Fujiyama Power Systems, and ZEN Technologies will announce their quarterly numbers on January 31.

Key Quarterly Earnings:

ITC Q3 FY26 (Consolidated YoY)
ITC reported a largely flat quarter, with consolidated profit slipping marginally by 0.07% to ₹4,931.2 crore compared to ₹4,934.8 crore last year. Revenue showed steady growth, rising 6.7% year-on-year to ₹21,706.6 crore, supported by stable performance across segments. The board declared an interim dividend of ₹6.50 per ordinary share for FY26, reflecting continued shareholder returns despite muted profit growth.
Tata Motors Commercial Vehicles Q3 (Consolidated YoY)
Tata Motors’ commercial vehicle business delivered strong top-line growth but faced sharp profitability pressure. Revenue increased 16.1% to ₹21,847 crore, driven by higher volumes. However, profit plunged 48% to ₹705 crore due to a significantly higher exceptional loss of ₹1,643 crore versus ₹24 crore last year, highlighting margin stress and one-off cost impacts during the quarter.
REC Q3 (Standalone YoY)
REC posted a stable performance in Q3, with profit inching up 0.3% year-on-year to ₹4,043 crore. Revenue grew 2.8% to ₹5,275.5 crore, supported by steady loan book expansion and consistent interest income. The muted growth reflects a stable operating environment, with profitability remaining resilient amid modest topline improvement.
One 97 Communications Paytm Q3 (Consolidated YoY)
Paytm delivered a strong turnaround performance, reporting a profit of ₹225 crore compared to a loss of ₹208 crore in the year-ago period. Revenue surged 20% year-on-year to ₹2,194 crore, driven by growth across payments, financial services, and merchant offerings. The return to profitability marks a significant improvement in operating leverage and cost discipline.
Swiggy Q3 (Consolidated YoY)
Swiggy continued to scale aggressively, with revenue jumping 54% year-on-year to ₹6,148 crore. However, losses widened to ₹1,065 crore from ₹799 crore last year, reflecting higher investments in growth, quick commerce, and customer acquisition. While topline momentum remains strong, profitability pressures persist due to elevated operating and expansion-related costs.
Colgate Palmolive India Q3 (YoY)
Colgate-Palmolive India reported a steady quarter, with profit rising marginally by 0.3% to ₹323.9 crore. Revenue increased 1.66% year-on-year to ₹1,486.1 crore, reflecting modest volume growth amid a competitive FMCG environment. The performance underscores stable margins and disciplined cost management despite limited acceleration in topline growth.
NTPC Green Energy Q3 (Consolidated YoY)
NTPC Green Energy saw a sharp decline in profitability, with profit plunging 73.4% to ₹17.5 crore. Revenue, however, grew a healthy 29.3% to ₹653.3 crore. Earnings were impacted by joint venture losses of ₹31.95 crore and a steep fall in other income to ₹30.93 crore, indicating pressure from non-core and associate-related factors.
Indegene Q3 (Consolidated YoY)
Indegene posted strong revenue growth of 30.8% year-on-year to ₹942.1 crore, driven by robust demand for digital and medical services. However, profit declined 6.2% to ₹102.9 crore, reflecting margin pressure from higher operating costs and investments. The results highlight growth momentum tempered by near-term profitability challenges.
Great Eastern Shipping Company Q3 (Consolidated YoY)
Great Eastern Shipping delivered a strong performance, with profit surging 36.9% to ₹812.5 crore. Revenue rose 17.6% year-on-year to ₹1,454.4 crore, supported by favorable freight rates and improved vessel utilization. The quarter reflects sustained strength in shipping markets and effective operational execution.
Orient Cement Q3 (YoY)
Orient Cement reported a sharp improvement in profitability despite a slight revenue decline. Profit surged 174.1% year-on-year to ₹27.8 crore, while revenue dipped 1.1% to ₹636.1 crore. Margin expansion, cost efficiencies, and operational improvements drove earnings growth, offsetting muted demand conditions.
Allied Blenders and Distillers Q3 (Consolidated YoY)
Allied Blenders and Distillers posted steady growth, with profit rising 15.7% to ₹66.5 crore. Revenue increased 3% year-on-year to ₹1,003 crore, reflecting stable demand across key brands. Improved operating leverage and cost management supported profitability despite modest topline expansion.
Container Corporation of India Q3 (Consolidated YoY)
CONCOR reported mixed results, with profit declining 8.9% year-on-year to ₹333.9 crore. Revenue rose 4.5% to ₹2,307.5 crore, supported by higher volumes. The drop in profitability reflects margin pressures amid rising costs and competitive pricing in the logistics and freight segment.
Niva Bupa Health Insurance Company Q3 (YoY)
Niva Bupa reported a loss of ₹87.6 crore compared to a profit of ₹13.2 crore last year, despite strong growth in premiums. Gross premium written jumped 54.7%, while net premium written rose 53.3%. Higher claims and operating expenses led to an operating loss of ₹135.5 crore, underscoring profitability challenges amid rapid expansion.
MTAR Technologies Q3 (Consolidated YoY)
MTAR Technologies delivered a standout quarter, with profit more than doubling to ₹34.7 crore, up 117.3% year-on-year. Revenue surged 59.3% to ₹278 crore, driven by strong execution across defence, space, and clean energy segments. Improved scale and operating leverage significantly boosted earnings.
Usha Martin Q3 (Consolidated YoY)
Usha Martin reported healthy growth, with profit rising 16.2% to ₹107.6 crore. Revenue increased 6.6% year-on-year to ₹917 crore, supported by stable demand and pricing. Operational efficiencies and controlled costs contributed to improved profitability during the quarter.
Syrma SGS Technology Q3 (Consolidated YoY)
Syrma SGS posted robust results, with profit soaring 110.7% to ₹102.8 crore. Revenue grew 45.4% year-on-year to ₹1,264.2 crore, driven by strong demand in electronics manufacturing services. Scale benefits, better product mix, and operating leverage significantly enhanced profitability.
Voltas Q3 (Consolidated YoY)
Voltas faced a weak quarter, with profit declining 35.7% to ₹85 crore. Revenue slipped marginally by 1.1% to ₹3,070.8 crore. Profitability was impacted by margin pressures and softer demand in certain segments, offsetting relatively stable topline performance.
Dabur India Q3 (Consolidated YoY)
Dabur India reported steady growth, with profit rising 7.3% year-on-year to ₹553.6 crore. Revenue increased 6.1% to ₹3,558.6 crore, supported by demand across healthcare, personal care, and foods segments. Improved operating efficiency helped sustain margin expansion.
Nippon Life India Asset Management Q3 (Consolidated YoY)
Nippon Life India AMC delivered strong performance, with profit surging 36.7% to ₹403.9 crore. Revenue grew 20% year-on-year to ₹705.3 crore, driven by higher assets under management and market-linked income. The results reflect strong investor inflows and operating leverage.
Dixon Technologies India Q3 (Consolidated YoY)
Dixon Technologies posted sharp profit growth of 67.8% to ₹287.3 crore, aided by a spike in other income to ₹131 crore. Revenue rose modestly by 2% to ₹10,671.6 crore. Improved margins and non-operating gains supported strong bottom-line expansion.
Manappuram Finance Q3 (Standalone YoY)
Manappuram Finance reported a weaker quarter, with profit falling 15.9% year-on-year to ₹381.2 crore. Net interest income declined slightly by 0.9% to ₹1,150.2 crore. The performance reflects pressure on lending margins and asset quality in a challenging credit environment.
Vedanta Q3 (Consolidated YoY)
Vedanta delivered a strong quarter, with profit surging 61% to ₹5,710 crore. Revenue jumped 37% year-on-year to ₹23,369 crore, supported by higher commodity prices and improved volumes. Strong operational performance across businesses drove significant earnings growth.
Blue Star Q3 (Consolidated YoY)
Blue Star reported a sharp decline in profitability, with profit plunging 39.2% to ₹80.6 crore. Revenue increased 4.2% to ₹2,925.3 crore. The quarter was impacted by an exceptional loss of ₹56.4 crore, which weighed heavily on earnings despite topline growth.

Positive:

• Sodhani Capital Ltd: Appointed as sub-broker of Prabhudas Lilladher, enhancing its capital market distribution capabilities and strengthening its brokerage ecosystem.
• Atlanta Electricals Ltd: Secured cumulative orders aggregating ~2.88 bln rupees from NTPC, KPTCL and Datta Power Infra, reflecting strong execution capabilities and improved revenue visibility.
• Brookfield India Real Estate Trust: Declared distribution of 5.40 rupees per unit; reported Dec-quarter consolidated revenue from operations of 6.9 bln rupees and net profit of 1.8 bln rupees, supported by stable leasing performance.
• NTPC Green Energy Ltd: Reported Dec-quarter consolidated revenue of 6.53 bln rupees and net profit of 174.8 mln rupees, driven by expanding renewable energy portfolio.
• Ion Exchange (India) Ltd: Posted Dec-quarter consolidated revenue of 7.34 bln rupees and net profit of 203 mln rupees, supported by healthy order execution across water treatment projects.
• Tamil Nadu Newsprint & Papers Ltd: Reported Dec-quarter revenue from operations of 11.21 bln rupees and profit of 67.7 mln rupees, aided by improved operating efficiencies.
• Orient Cement: Reported Q3 revenue of 6.36 bln rupees and PAT of 278 mln rupees, indicating steady demand across core markets.
• Paytm: Posted Q3 consolidated revenue of 21.94 bln rupees and net profit of 2.25 bln rupees; management expects marketing services growth to be driven by higher MTUs, while Vijay Shekhar Sharma was additionally appointed Managing Director of PPSL.
• Colgate-Palmolive (India): Reported Q3 sales of 14.73 bln rupees and net profit of 3.24 bln rupees, supported by pricing actions and stable volume growth.
• Allied Blenders and Distillers: Reported Dec-quarter consolidated revenue of 19.34 bln rupees and net profit of 664.8 mln rupees; approved capital contribution of 540 mln rupees to subsidiary, indicating expansion focus.
• ITC: Reported Q3 revenue of 193.59 bln rupees and profit of 50.89 bln rupees despite a one-time charge of 2.74 bln rupees related to new labour codes.
• Indegene: Posted Dec-quarter consolidated revenue of 9.42 bln rupees and net profit of 1.03 bln rupees, reflecting strong traction in digital-led life sciences services.
• Container Corporation of India: Reported Q3 consolidated revenue of 23.08 bln rupees and net profit of 3.34 bln rupees; board declared interim dividend of 3.40 rupees per share.
• MTAR Technologies: Reported Dec-quarter consolidated revenue of 2.78 bln rupees and net profit of 346.9 mln rupees, aided by defence and clean energy segments.
• Carborundum Universal: Declared interim dividend of 1.5 rupees per share; reported Dec-quarter revenue of 12.91 bln rupees and net profit of 759.2 mln rupees.
• Flair Writing Industries: Posted Dec-quarter consolidated revenue of 3.18 bln rupees and net profit of 327.4 mln rupees, reflecting stable demand across writing instruments.
• Usha Martin Ltd: Reported Dec-quarter consolidated revenue of 9.17 bln rupees and net profit of 1.08 bln rupees, supported by higher export realization.
• Syrma SGS Technology: Posted Dec-quarter consolidated revenue of 12.64 bln rupees and net profit of 1.03 bln rupees, aided by electronics manufacturing scale-up.
• HAL: Signed contract exceeding 18 bln rupees for supply of 10 Dhruv NG helicopters, strengthening defence order book.
• Magellanic Cloud: Received order worth 53.6 mln rupees and LOA from Central Railway.
• Pricol Ltd: Board approved incorporation of a wholly owned subsidiary and investment up to 10 mln rupees, aligned with long-term strategic initiatives.
• Embassy Developments Ltd: Approved fund raising of 4 bln rupees via non-convertible debentures to strengthen balance sheet.
• HUDCO: Declared third interim dividend of 1.15 rupees per share; reported Dec-quarter revenue of 34.19 bln rupees and profit of 7.13 bln rupees.
• Nippon Life India Asset Management: Reported Dec-quarter consolidated revenue of 7.05 bln rupees and net profit of 4.04 bln rupees, supported by strong AUM growth.
• TD Power Systems: Posted Dec-quarter consolidated revenue of 4.43 bln rupees and profit of 563.2 mln rupees on robust execution.
• Tata Motors: Reported Q3 revenue of 204.04 bln rupees and profit of 5.61 bln rupees; management expects demand to strengthen further in Q4FY26 across most CV segments.
• Dixon Technologies (India): Posted Dec-quarter consolidated revenue of 106.72 bln rupees and net profit of 2.87 bln rupees, driven by scale-up in EMS manufacturing.
• REC: Declared dividend of 4.60 rupees per share; reported Dec-quarter revenue of 150.18 bln rupees and net profit of 40.52 bln rupees.
• Vedanta: Reported Q3 consolidated revenue of 229.79 bln rupees and net profit of 57.10 bln rupees, aided by strong commodity prices.
• Apcotex Industries: Declared dividend of 2.5 rupees per share; reported Dec-quarter revenue of 3.31 bln rupees and PAT of 222.2 mln rupees.
• Nikita Greentech Recycling: Empanelled as execution partner for CBG plants and received empanelment letter from Indraprastha Gas, enhancing future revenue visibility.
• Blue Star Ltd: Re-appointed B Thiagarajan as Managing Director; reported Q3 revenue of 29.25 bln rupees and net profit of 806.6 mln rupees.
• Simbhaoli Sugars: Resumed operations at Brijnathpur unit following regulatory approvals.

 
Negative:

• LT Foods: Hungary rejected the proposed acquisition of Global Green Group, impacting the company’s overseas expansion plans.
• Sanghi Industries: Reported Dec-quarter revenue of 2.75 bln rupees with a net loss of 1.15 bln rupees due to weak demand and cost pressures.
• Greenlam Industries: Posted Dec-quarter revenue of 7.06 bln rupees and marginal net loss of 1.7 mln rupees amid higher operating expenses.
• Niva Bupa Health Insurance: Reported Dec-quarter net premium earned of 14.54 bln rupees but loss after tax of 876.4 mln rupees.
• AEQUS Ltd: Reported Dec-quarter revenue of 3.26 bln rupees and net loss of -427 mln rupees due to margin pressures.
• Voltas: Reported Q3 revenue of 30.71 bln rupees and net profit of 849.5 mln rupees, below market expectations.
• Swiggy: Reported Q3 revenue of 61.48 bln rupees and net loss of 10.65 bln rupees, reflecting continued investments in growth.
• P H Capital: Samir Desai resigned as Chief Financial Officer.
   

Neutral / Others

• Adani Group: Exploring -USD 1.5 bln yen-denominated debt to diversify funding mix, as per media reports.
• UPL: Listed Global Depository Receipts on NSE International Exchange.
• Wipro: Launched a new operating model for enterprise functions to improve internal efficiencies.
• Rose Merc Ltd: Appointed Vaishali Parkar Kumar as Managing Director & CFO.
• Angel One: Board to consider issuance of non-convertible debentures.
• HPCL: Entered into strategic MoU with Oil India for development of bio-gas projects.
• Reliance Industries: NCLT approved resolution plan submitted by Capri Global Holdings for SevenHills Healthcare.
• Adani Energy Solutions: Fitch Ratings Affirmed Company’s restricted group notes at ‘BBB-’ with stable outlook.
• Modi Rubber: Gujarat Guardian approved expansion for second float line and coater.

Non-Corporate, Unlisted & Foreign / Macro

1) India CPI Revision: Government to reduce weight of food & beverages to 36.75% in the new CPI series.
2) India Bond Market: 10-year benchmark yield closed at 6.6984%; RBI conducted OMO purchase auctions across multiple maturities.
3) Russia ESPO Oil: March cargoes trading at USD 7–8 per barrel discount to Brent for delivery to China.
4) H&M CEO: Red Sea shipping normalization could improve lead times and supply chain responsiveness.
5) Mozambique LNG: President indicated Exxon Mobil’s Rovuma LNG construction may begin within 12–18 months.
6) Air India: Converted 15 Airbus A321neo aircraft orders to A321XLR; deliveries expected between 2029–2030.
7) Air India Express: Announced plans to induct 30 new Boeing 737-8 aircraft.
8) ECDC / Nipah Virus: Two confirmed cases reported in West Bengal; ECDC assessed risk for Europeans and onward transmission as very low.

Bulk Deals:

Sunteck Realty
Morgan Stanley Asia (Singapore) and Goldman Sachs Bank Europe SE acquired a combined 4.88 percent stake in Sunteck Realty through a block deal worth about Rs 268.6 crore. Morgan Stanley bought 35.09 lakh shares (2.39 percent) for Rs 131.6 crore, while Goldman Sachs purchased 36.52 lakh shares (2.49 percent) for Rs 137 crore. CLSA Global Markets sold 71.61 lakh shares at Rs 375.1 per share.
Manappuram Finance
Morgan Stanley Asia (Singapore) acquired 65.27 lakh shares, or a 0.77 percent stake, in Manappuram Finance for Rs 190.37 crore through a block deal. The shares were bought from Goldman Sachs Bank Europe SE at Rs 291.65 per share. Goldman Sachs reduced its holding, which stood at 1.53 percent in December 2025, following the transaction.
Balu Forge Industries
Sixteenth Street Asian Gems Fund, the Singapore-based hedge fund of Sixteenth Street Capital, sold 9.27 lakh shares, representing a 0.81 percent stake, in Balu Forge Industries. The shares were offloaded at Rs 358.77 per share, fetching Rs 33.26 crore. The fund held a 2.46 percent stake in the company as of December 2025.
Jinkushal Industries
Jinal Kalpesh Dhakad and Nikhil Mithalal Dhakad acquired shares in Jinkushal Industries through separate purchases. Jinal bought 2.76 lakh shares for Rs 1.83 crore at Rs 66.34 per share, while Nikhil purchased 3.54 lakh shares for Rs 2.39 crore at Rs 67.54 per share. Together, the acquisitions amount to a 1.64 percent stake.

On-going IPO:
Last Date 30-Jan
MSafe Equipments Ltd (BSE SME)
Accretion Nutraveda Ltd (BSE SME)
Power Finance Corporation Ltd (Debt/NCD)

Upcoming IPO:
(30-Jan to 03-Feb)
C K K  Retail Mart Ltd (NSE SME)
(04-Feb to 06-Feb)
NFP Sampoorna Foods Ltd (NSE SME)

Securities Trading Ex-Dividend on January 30, 2026
Advani Hotels & Resorts (India) Ltd, Computer Age Management Services Ltd, CG Power and Industrial Solutions Ltd,  Coforge Ltd, Siemens Energy India Ltd, Gandhar Oil Refinery (India) Ltd, Godrej Consumer Products Ltd, Innova Captab Ltd, Kirloskar Pneumatic Company Ltd, Mastek Ltd, Motilal Oswal Financial Services Ltd, Sona BLW Precision Forgings Ltd
Securities Trading Ex-Rights Issue on January 30, 2026
Arunis Abode Ltd. Capricorn Systems Global Solutions Ltd, D & H India Ltd, Galactico Corporate Services Ltd
Securities Trading Ex-Buy Back on January 30, 2026
Matrimony.com Ltd
Securities Trading Ex-Income Distribution on January 30, 2026
 Mindspace Business Parks REIT, National Highways Infra Trust  (InvIT)
Securities Under F&O Ban on January 30, 2026
NIL


Source: WOWNEWS24X7,  Moneycontrol, Investing.com