Market Bizzz

The company has reported an operating EBIT (earnings before interest and tax) of Rs 5,821 crore for the third quarter, which was up 4% YoY and nearly 9% QoQ (quarter-on-quarter).

Just Dial shares: Just Dial reported a 43% increase in net profit for Q3FY25, reaching Rs 131.31 crore. While its sequential profit declined, revenue rose slightly. The company also saw a 73% YoY growth in PAT for the nine-month period. Analysts maintain a ‘Buy’ recommendation with a target price of Rs 1,275, signaling a 23% upside from current levels.

Reliance Industries shares have dropped 23% since July, mainly due to weak retail business and declining refining margins. However, analysts, including Goldman Sachs, believe the sell-off is overdone, with shares nearing their worst-case scenario. Other global brokerages like Jefferies, Morgan Stanley, and CLSA have issued buy ratings, with target prices reaching Rs 1,690.

Unmesh Sharma from HDFC Securities provides a market outlook, emphasizing opportunities in largecaps impacted by FPI selling and the potential for outsized returns in selective midcaps and smallcaps. He also highlights a positive outlook for the BFSI sector, industrials, chemicals and IT due to valuation differentials, liquidity improvements, and capex cycles.

Neville Noronha, CEO of Avenue Supermarts, will not renew his contract ending in January 2026 after leading the company for over two decades. Anshul Asawa from Unilever will take over as CEO Designate from March 2025 and assume full CEO responsibilities in February 2026. Noronha leaves a legacy of achieving significant milestones, including expanding DMart to over 380 stores.

The retailer’s EBITDA margin fell to 7.9% in Q3FY25 as compared to 8.5% in Q3FY24 while the PAT margin also decreased to 5% vs 5.5% on a YoY basis.

Sebi’s Wholetime Member Ananth Narayan announced that no additional measures will be taken to restrict derivatives trading, emphasizing ongoing efforts to improve risk management and ease of doing business. He also clarified that Sebi is not considering steps on trading eligibility and appropriability, focusing instead on refining risk measurement and connectivity between cash and derivatives markets.

A Labor Department report showed job growth unexpectedly accelerated in December while the unemployment rate fell to 4.1% as the labor market ended the year on a strong note.

Only two IPOs were awaiting approval for more than three months in November compared to 19 in March 2022, said Buch at an event in Mumbai on Friday.

While bearish wagers have been growing, the steep rise in yields since mid-September may mean that strong data will hurt the market less than weak data will help it, some investors and strategists say.