Market Movements: Key Stocks to Watch on January 23
The Indian stock market is poised for a muted opening today, January 23, driven by mixed sentiments from global markets. The benchmark indices, Sensex and Nifty 50, are expected to closely follow global market trends, especially after some gains in Asian markets and a rally on Wall Street last night.
Today's key stocks include IndiGo, which reported a sharp decline in its net profit for Q3FY26. The airline's consolidated net profit fell by 77.6% to ₹549.1 crore from ₹2,448 crore YoY, primarily due to an exceptional loss of ₹1,546.5 crore during the quarter. Despite a 6.2% increase in revenue to ₹23,471.9 crore, the EBITDAR margin also declined to 30% from 33.7% YoY.
Another notable stock is Bandhan Bank, which also experienced a significant profit drop of 51.8%, with net profit falling to ₹205.6 crore from ₹426.5 crore YoY. The bank's net interest income (NII) decreased by 4.5% YoY to ₹2,688.3 crore, although its gross NPA improved to 3.33% from 5.02% QoQ.
Reliance Industries is making headlines as it amalgamated 16 of its step-down wholly-owned subsidiaries into its clean-energy arm, Reliance New Energy Limited. This strategic move underlines Reliance's commitment to expanding its footprint in sustainable energy.
Additionally, Ashoka Buildcon has secured a Letter of Acceptance for an order worth ₹307.71 crore from the Public Works Department in Daman for constructing a signature bridge. This project is expected to enhance infrastructure in the region.
NTPC Green Energy has also signed a Memorandum of Understanding (MoU) with the Government of Uttar Pradesh to develop renewable energy and green hydrogen projects, reflecting an increasing focus on sustainable energy solutions.
Lastly, ONGC has acquired a 50% stake in Bharat Ethane One and Two IFSC through private placement, marking its expansion in the ethane sector. These developments will be closely monitored by investors as they can significantly influence market trends.
