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Dharmesh Kant, Head Research, Chola Securities

“If Vodafone survives and the payouts are there in time, then definitely Indus Towers is a very undervalued stock as of now. So easily, it can develop from here, subject to the survival of Vodafone Idea. It looks very tough to me, how these things will pan out. ₹45,000 crore of capital expenditure, and in the light of what is there on the balance sheet as of now in the cash flows, how they’re panning out, with incremental outflows of their own subscribers, 5G is still a distant value-added play to be added to the company. So, I mean, if one wants to buy an opportunistic trade, then Indus Towers is definitely a better option, but better than Indus Towers is to buy Bharti Airtel. Bharti Airtel is the best play in the business right now, to my mind.”

Nikhil Ranka, CIO – Equity Alternatives, Nuvama Asset management

“We just did some analysis on all the sectors. And we were just doing a stress case for the banking sector. And an interesting data point was that for the first time in the last 10-12 years of my career, you would see that none of the large cap private sector banks is more than two times price to book on an FY28 basis.”

“You take the like of any of the four top large banks adjusted for the value of subsidiaries, all of them are today trading below two times price to book. Now if you look at it, you are still looking at an 11-12% sort of credit growth rate. NIMs would have bottomed out in Q4 of FY26 and at least from the commentary, it seems that credit cost is still very well contained for most of the large cap banks.”

“Nobody is saying about any caution on the credit cost cycle. So therefore, FY27 should definitely be a year where we will see close to 15% earnings growth for most of the large private sector banks. And then, if you mix the two, where you will see 15% earnings growth and less than two times price to book valuations, I think a lot of outperformance should come from the large cap banking space going forward.”

Mayuresh Joshi, Marketsmith India

“I think soft numbers from KPIT Tech, compared to what the expectations largely were being laid out. Not just for KPIT, but for mid-cap IT companies in general. And therefore, I think the outlook in terms of how the second half of FY26 and FY27 will play out is something which is dependent on how revenues and orders will probably move over the next few quarters and how they execute. But as we stand, soft set of numbers, ratings, rankings look very, very weak as we see it in markets within India. It has been consolidating for a long periodicity of time. And even with the consolidation, it’s not that the stock is very, very cheap. It is still expensive as we speak. As the premise here is that they will continue delivering numbers which is far, far better than what the street probably expects and what mid-cap IT companies in terms of their peers are expected to do. So soft set of numbers, poor ratings and rankings as we see it, running a neutral view onto the stock as we speak.”

Net Loss At ₹1,065 Cr Vs Loss Of ₹800 Cr (YoY)

Revenue up 54% At ₹6,148 Cr Vs ₹3,993 Cr (YoY)

EBITDA Loss At ₹782 Cr Vs EBITDA Loss Of ₹725 Cr (YoY)

Nikhil Ranka, CIO – Equity Alternatives, Nuvama Asset Management

“If you look at the fall in the initial part of the month – when we fell from 26,000 to 25,000 – a large part of the fall is attributable to the Yen carry trade unwinding which we have seen. If you see the Japanese 30-year bonds, they had rallied to almost 3.8% and in a single day the bond prices in Japan were down by almost 4%. If you look at the numbers, it is almost close to $7 trillion in terms of Yen carry trade across asset classes. So, when people saw funding costs starting to increase and money not being made in equity markets, there was some unwinding that we saw because of that. Having said that, if you now look at the starting point of valuations for us, we are now at close to 18 times FY28 earnings. And historically, unless it’s a black swan event, we have not gone below 17 times. So from that perspective, markets clearly are looking very, very optimistic from these levels. My sense is, you know, over the next few months, we should start heading back up. And our target price, or the fair value of Nifty on an FY28 basis, still remains close to 28,500 so that’s a clean 3,000 point upside on Nifty over a 12 month horizon.”

Net Profit At ₹80.5 Cr Vs CNBC-TV18 Poll Of ₹123 Cr

Revenue At ₹2,925 Cr Vs CNBC-TV18 Poll Of ₹3,057 Cr

EBITDA At ₹220.8 Cr Vs CNBC-TV18 Poll Of ₹213 Cr

Margin At 7.5% Vs CNBC-TV18 Poll Of 7%

Net Profit down 39% At ₹80.5 Cr Vs ₹132 Cr (YoY)

Revenue up 4.2% At ₹2,925 Cr Vs ₹2,807 Cr (YoY)

EBITDA up 5.1% At ₹220.8 Cr Vs ₹209 Cr (YoY)

Margin Flat At 7.5% (YoY)

Rupee Ends At 91.96/$ Against Wednesday’s Close Of 91.78/$

Sensex up 222 points at 82,566;

Nifty gains 76 points to 25,419, reclaims 25,400

Nifty Bank outperforms, up 359 points at 59,958

Midcap index up 102 points to 58,541

Market breadth weak; NSE advance–decline ratio at 2:3

Banks lead: Axis Bank, AU SFB, ICICI Bank, Federal Bank among top gainers

Metals extend rally for 3rd session; Hindustan Copper hits record high

L&T jumps 4% after Q3 results; Tata Steel, Coal India support Nifty

ABB India surges 10% after global parent’s Q4 earnings

Gillette climbs 6% on strong Q3 results

Maruti Suzuki slips over 2% after Jefferies cuts Target Price to ₹16,000

Asian Paints top Nifty loser, down 11% over last 4 sessions

Deepak Fertilisers falls over 6% as Q3 net profit drops 44%

Canara Bank slides 8%, KPIT Tech down 6% post Q3 results

Shares of Canara Bank  tanked after a week Q3 performance result, with NIMS declinig sequentially.

Stock 4.46% down at ₹150.70 at close.

MFSL – down 2.37%

ICICI PRULIFE – down 2.83%

SBI LIFE – down 2.69%

HIND COPPER – up 20%

GMDC – up 11.15%

NALCO – up nearly 6%

TATA STEEL – up 4.43%

NMDC – up nearly 4%

Net Profit down 43.6% At ₹141.5 Cr Vs ₹251Cr (YoY)

Revenue up 9.7% At ₹2,830 Cr Vs ₹2,579 Cr (YoY)

EBITDA down 27.4% At ₹353 Cr Vs ₹486 Cr (YoY)

Margin At 12.5% Vs 18.9% (YoY)

Indian Oil Corporation Ltd Signs LoI With Akasa Air To Advance Sustainable Aviation Fuel Supply

CEA Nageswaran | Economic Survey 2026

India Is Indeed An Oasis Of Macro Stability In A Turbulent World

Global Environment Somewhat Unpredictable And Even Dangerous

Expect Benign Inflation Trends To Continue In FY27

Public Finances Are On A Firmer Footing

Resource Availability Augers Well Very For Non-Govt Sector

External Sector Does Not Flash Any Warning Signals From A Macro Perspective

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Co Says, No Significant Impact Of New Labour Code

The government may consider changing the term “Government Company” under the Companies Act, according to the Economic Survey 2026, which Finance Minister Nirmala Sitharaman presented to Parliament on Thursday, January 29, 2026.

According to the Economic Survey 2025–26, foreign portfolio investment flows into India remained erratic through FY26, with foreign investors progressively reducing their exposure to equity while increasing their allocations to debt.

Rather than worrying about India’s local macro fundamentals, the changing pattern is a reflection of global risk aversion.

The quarter’s net profit dropped to ₹133 crore from ₹169 crore, a 21% decrease from the previous quarter. The new labour regulation had a one-time impact on the profitability of ₹59.7 crore. The profitability figure would have increased consecutively if the same had been taken into account.

Bartronics India | Signs MoU With Origo Commodities To Accelerate Agri-focussed Biz Expansion

Here is a breakdown of the gross tax collection over the years.

The Economic Survey looks into the Tax Buoyancy of the Indian economy.

The Economic Survey report on shares of tax collections

The shares of KPIT Tech have declined today, adding to losses of over 10% in a month of trade.

The shares of NACL Ind declined by over 3% after reporting its results.

The shares of Tata Steel hit a record high after surging over 4%.

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