Wipro Share Price in Focus; Check Q3 Results Date, Dividend Update

Wipro’s share price saw a notable uptick on January 10, 2025, rising by 3.04% to ₹301.20, at 11:35 AM on the NSE. The stock opened at ₹294.30 and reached a high of ₹301.90, reflecting a positive market sentiment. With a previous close of ₹292.30, the stock managed to regain momentum, supported by a volume-weighted average price (VWAP) of ₹298.60.

Wipro Q3 Results Date And Time

Wipro Ltd has revealed that its board of directors will approve the Q3 FY25 results on the evening of January 17.

During the board meeting, the members will also consider any interim dividend for FY25. However, the date for the dividend has not been announced yet.

Previously, Wipro declared an interim dividend of ₹1 each in January 2024 and January 2023, along with an interim dividend of ₹5 in April 2022.

Wipro Q2 Financial Performance

For the quarter ending September 2024, Wipro reported a 6.2% sequential rise in net profit to ₹3,227 crore, surpassing the consensus estimate of ₹3,009 crore.

In the previous quarter (June 2024), net profit stood at ₹3,037 crore. Revenue for Q2 FY25 grew by 1.5% quarter-on-quarter to ₹22,302 crore, exceeding analysts’ expectations.

As of the end of the September quarter, Wipro’s promoters held a 72.8% stake in the company.

According to news reports, Indian IT service providers are expected to show a year-on-year revenue growth for the December quarter of the current financial year.

About Wipro

Wipro Limited is a leading global IT services and consulting company, specialising in digital transformation, business process services, and emerging technologies. With a strong presence in India, Wipro helps clients adapt to the digital world through solutions in application development, cloud, analytics, and automation. The company leverages its expertise across various sectors to drive innovation and sustainable growth.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

USD/INR: Rupee Slips Amid Oil Uptick on January 10, 2025; US NFP Data Eyed

On January 10, 2025, the Indian rupee traded up at 85.87 to the U.S. dollar, against 85.86 at the previous close yesterday. The rupee had hit a record low of 85.94 against the dollar during the day on Thursday, surpassing its previous record low of 85.86 hit earlier this week.

As per news reports, further losses in the rupee yesterday were capped amid dollar sales by state-run banks.

Dollar Strength, Mixed Asian Currencies

The dollar index reached 109, rising 0.11% today, while Asian currencies showed mixed performance.

The dollar and U.S. bond yields have risen in recent weeks due to expectations of cautious rate cuts by the Federal Reserve and the potential inflationary effects of incoming U.S. President Donald Trump’s policies.

The release of the Fed’s December meeting minutes on Wednesday highlighted growing concerns about inflation, with uncertainty surrounding Trump’s policies adding to the economic outlook’s volatility.

Important U.S. Economic Events Ahead

Investors are keeping a close eye on important events ahead, such as the U.S. December jobs report on January 12, inflation data on January 15, and President-elect Donald Trump’s inauguration on January 20.

Brent Crude Oil Gains

Brent crude oil futures are 0.38% up, at $77.21 per barrel as of January 10, 2025. NSDL Data release showed Foreign Institutional Investors (FIIs) pulled out ₹10,587.17 crore yesterday and ₹28,842 crore this month, indicating increased risk aversion. At the same time, rising crude oil prices add pressure to India’s current account deficit.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in securities market are subject to market risks, read all the related documents carefully before investing.

ONGC Share Price Falls For the 2nd Consecutive session; Down 2%

At 10:05 AM on the NSE, Oil & Natural Gas Corporation’s share price stood at ₹259.40, down by ₹3.78 or 1.44% from the previous close of ₹263.18. The stock opened at ₹264.00, reached a high of ₹265.05, and a low of ₹259.27 during the session. The share price declined 3% in yesterday’s trade.

Recent Business Development 

ONGC has onboarded BP Exploration (Alpha) Ltd, a wholly-owned subsidiary of BP Plc, as a technical services provider for enhancing production from the Mumbai High field.

The field, discovered by ONGC in 1974, has been a significant contributor to India’s crude oil and natural gas production. Despite various enhancement schemes over the decades, production challenges persist, requiring more advanced recovery technologies.

Through an international competitive bidding process, ONGC selected BP to implement innovative recovery techniques.

BP Aims for a Significant Production Increase

BP aims to increase crude oil production by approximately 44% and gas production by around 89% over a 10-year contract period.

This increase is expected to generate up to USD 10.30 billion in additional oil and gas revenue, with a significant contribution to the Government of India’s exchequer.

The enhanced production is expected to begin in FY26, with full-scale visibility from FY28, supporting ONGC’s continued role in India’s energy sector, ONGC said in a press release on the stock exchanges.

About ONGC 

ONGC (Oil and Natural Gas Corporation) is India’s largest crude oil and natural gas producer, contributing around 71% to the country’s domestic production. A Maharatna company, ONGC has in-house capabilities across all aspects of exploration, production, and related oil-field services.

ONGC Videsh, a subsidiary, handles international oil and gas assets in 15 countries, while ONGC also owns Mangalore Refinery and Petrochemicals and Hindustan Petroleum Corporation Limited, further enhancing its reach in India’s energy sector.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Mahanagar Gas Shares in Focus; Secures 26% Increase in APM Gas Allocation

Mahanagar Gas announced a 26% increase in APM gas allocation from GAIL, raising CNG supply from 37% to 51%. This significant change is expected to positively impact profitability starting January 16, 2025, the company said in a press release on the stock exchanges.

Increased CNG Allocation to Boost Profitability

With this increase, MGL’s allocation for Compressed Natural Gas (CNG) will rise from 37% to 51%, enabling the company to better meet rising demand. This change is expected to have a positive impact on the company’s profitability, enhancing supply capabilities and strengthening its market position.

MGL anticipates that this move will improve financial performance in the near term, benefiting both the company and its stakeholders.

Q2 FY25 Financial Highlights

Mahanagar Gas Ltd. (MGL) reported a 16.5% year-on-year decline in net profit for Q2 FY25, with profit after tax falling to ₹283 crore, compared to ₹339 crore in the same quarter last year. The company saw a growth in revenue from operations, which increased by 8.6% to ₹1,877 crore, driven by higher sales volumes.

However, total expenses rose by 18% to ₹1,555 crore, primarily due to a 20% surge in natural gas costs, which impacted profitability. On a sequential basis, MGL’s net profit fell by 2% from ₹288.8 crore in the previous quarter.

The company’s sales volume grew by 5.9% to 371.9 million standard cubic metres, with strong performance from the PNG-industrial segment, which saw a 17% rise in sales volume. Despite challenges with rising operational costs, MGL’s total sales volumes in the CNG segment rose by 5.22%.

Additionally, MGL’s board approved a merger scheme with its wholly-owned subsidiary, Unison Enviro Pvt. Ltd, aimed at generating synergies and optimising costs.

Share Price Performance

Mahanagar Gas share price traded 0.92% lower at ₹1,258.95 at 10:00 AM on the NSE, after opening at ₹1,295, higher than its previous close of ₹1,270.65. Meanwhile, GAIL shares were down 2.02%, trading at ₹179.33.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

VTM Dividend Record Date Today, January 10, 2025; Check Details

VTM, a leading player in the Indian textile industry, had declared a dividend of ₹0.25 per share, with the record date set for today. The announcement was made on December 18, 2024, and the Ex-Date is also January 10, 2025.

VTM Dividend Track Record

VTM has regularly announced dividends in recent years to reward its shareholders. On May 23, 2024, the company declared a final dividend of ₹0.75 per share, with the Ex-Dividend Date set for July 11, 2024.

In 2023, an interim dividend of ₹0.25 per share was announced on November 10, with the Ex-Date on November 30. Earlier in 2023, on May 4, the company declared a final dividend of ₹0.70 per share, with the Ex-Date on June 22. VTM had also declared a final dividend of ₹0.90 per share on April 25, 2022, with the Ex-Date on June 16, 2022.

The company’s 2021 final dividend was ₹0.60 per share, announced on April 29, with the Ex-Date on June 10. Additionally, in 2020, VTM declared an interim dividend of ₹0.90 per share on February 12, with the Ex-Date on February 25.

Q2 FY25 Financial Highlights

In the Q2 FY25 (September 2024) results, VTM Limited posted impressive growth compared to the same quarter last year (September 2023). Total revenue for Q2 FY25 stood at ₹73.17 crore, a significant increase from ₹47.24 crore in Q2 FY24, representing a growth of 54.92%.

Operating profit surged to ₹11.03 crore, up by 83.93% from ₹5.72 crore in the previous year. Profit after tax (PAT) also showed remarkable growth, rising by 86.71% to ₹9.77 crore compared to ₹5.04 crore in Q2 FY24.

The operating margin for Q2 FY25 improved to 15.08%, a sharp rise from 12.10% in the same quarter of the previous year. Additionally, the earnings per share (EPS) grew to ₹2.43 in Q2 FY25, up from ₹1.25 in Q2 FY24. These results reflect strong operational efficiency and robust growth in revenues and profitability for VTM.

About VTM Limited

VTM Limited, established in 1946, is a leading player in the Indian textile industry, specialising in weaving and spinning. With over six decades of expertise, the company produces high-quality fabric for export and domestic markets. VTM manufactures complex fabrics, including special weaves and combinations.

As a part of the renowned Thiagarajar Group, VTM is recognised for its innovation and quality standards in the textile sector. The company’s infrastructure includes 258 looms, producing 1.8 million meters of fabric monthly.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Shriram Finance Stock Split Record Date Today, January 10, 2025

Shriram Finance had declared a 10:2 stock split, with the record date set for today. The announcement was made on October 25, 2024, and the Ex-Date for the split is also January 10, 2025. Following the T+1 settlement cycle in Indian stock markets, yesterday was the final trading day for investors to purchase Shriram Finance shares and be eligible for the stock split.

Corporate Action History

Shriram Finance has announced various dividends. On October 18, 2024, an interim dividend of ₹22 was declared, with the Ex-Dividend Date set for November 7, 2024. Earlier in the year, the company announced a final dividend of ₹15 on April 26, 2024, with an Ex-Dividend Date of July 23, 2024.

Additionally, an interim dividend of ₹10 was declared on January 24, 2024, with the Ex-Dividend Date of February 6, 2024. Last year, Shriram Finance also announced an interim dividend of ₹20 on October 16, 2023, with the Ex-Dividend Date of November 6, 2023.

A final dividend of ₹20 was declared on April 27, 2023, with the Ex-Dividend Date set for June 16, 2023.

Q2 FY25 Financial Highlights

Shriram Finance reported a strong performance for Q2FY25, with a net profit of ₹2,071 crore, reflecting an 18.3% year-on-year growth. The company’s net interest income (NII) rose by 16.3% YoY, reaching ₹5,606 crore.

However, its net interest margin (NIM) saw a slight dip, decreasing to 8.74% compared to 8.8% in the previous quarter. The gross stage-3 assets also saw a marginal increase, growing to ₹12,764 crore from ₹12,408 crore in Q1FY25.

Share Price Performance

Shriram Finance’s share price closed 2.41% lower at ₹2,828.95 on January 9, 2025, marking its fifth consecutive decline. Over the past five days, the stock has dropped nearly 7%.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Deloitte Union Budget Expectations: Recommends Strengthening FPOs to Boost Farmer Profits

India’s agricultural sector plays a pivotal role in its economy, employing approximately 46% of the nation’s workforce. Despite India being one of the world’s largest agricultural producers, the sector is beset with significant challenges. These include low profitability for farmers, inadequate infrastructure, limited market access, and reliance on traditional farming methods.

As per Deloitte’s report, Farmer Producer Organisations (FPOs) are emerging as an increasingly important solution to these problems, offering the potential to create better value chains, enhance market linkages, and improve farmer incomes.

In its Budget Expectations for 2025 report released in January, Deloitte emphasised the importance of strengthening FPOs to optimise their potential and improve their contribution to India’s agricultural sector.

Let’s take a look at its expectations and policy recommendations.

 

Deloitte’s Policy Insights for Strengthening India’s Agriculture

  • Strengthening of Farmer Producer Organisations 

FPOs are vital for improving the profitability of small and marginal farmers. By providing better access to resources, technology, and markets, FPOs can uplift farmers, ensuring they benefit from higher-quality crops and better prices.

More active and well-functioning FPOs, will lead to higher profits and better operations for farmer members. Deloitte highlights the importance of strengthening FPOs by providing capacity building and incentives.

  • Fast-Tracking Adoption of Digital Agriculture

Digital tools can empower farmers by providing timely and accurate information for decision-making. However, adoption rates remain low, and integrating technology into the existing extension infrastructure is vital to enhancing its impact.

Increased adoption of agri-tech services will result in cost reduction, higher yields, and better quality produce. Deloitte stresses the need for accelerating the integration of digital technologies in agriculture. Building robust agri-databases.

  • Creation of an Enabling Seed Ecosystem

India lags in the adoption of new and improved crop varieties, despite having access to high-yield, stress-resistant seeds. Enhancing seed access will enable farmers to grow higher-yield crops, improving their profitability.

Higher Seed Replacement Rates (SRR) and Varietal Replacement Rates (VRR) will help in to better crop yields. Deloitte recommends improving the seed ecosystem by facilitating the launch, multiplication, and distribution of newer crop varieties through research institutions like ICAR.

  • Comprehensive Programmes for Yield Improvement

With limited land and water resources, India must increase agricultural productivity to meet the needs of its growing population.

Diversification into crops like pulses, oilseeds, and millets is needed, while improving the yield of staple crops like wheat and rice, can help ensure food and nutritional security. Deloitte suggests the development of crop-specific programmes aimed at improving yields through the use of specialised machinery, timely crop advisory, and ensuring affordable access to quality inputs.

Conclusion

Deloitte’s recommendations aim to address key challenges in India’s agriculture by strengthening FPOs, promoting digital adoption, and improving seed access. Strengthening Farmer Producer Organisations (FPOs) and improving digital adoption can enhance farmer profitability, contributing to India’s agricultural production, which accounts for 11% of the global share. By improving seed ecosystems and productivity, India can boost its agricultural exports.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Shares That Hit Circuit Limits On January 9, 2025 Borosil Renewables, ITI, Shakti Pumps and More

On January 9, 2025, BSE Sensex closed 0.68% lower at 77,620.21, while Nifty50 slipped 0.69% to 23,526.50. Amidst the market downturn, stocks like Borosil Renewables, ITI and Shakti Pumps hit circuit limits, reflecting significant price movements. Check out the full list of stocks hitting circuits today.

Stocks That Hit Lower Circuit on January 09, 2025

Company Name LTP (₹) % Change Price Band % Volume (Lakhs) Value (₹ Crores)
ITI 439 -8.45 10 162.77 737.46
Shakti Pumps (India) 1,284 -4.52 5 8.86 116.63
Reliance Infrastructure 287.05 -5 5 24.79 72.25
Reliance Power 40.26 -5 5 157.98 64.8
Transformers And Rectifiers (India) 1,185 -4.29 5 4.93 58.54

 

Stocks That Hit Upper Circuit on January 09, 2025

Company Name LTP (₹) % Change Price Band % Volume (Lakhs) Value (₹ Crores)
Borosil Renewables 603.1 5 5 6.12 36.71
Shaily Engineering Plastics 1,610 2.35 5 2.06 33.22
C2C Advanced Systems 893.8 5 5 2.32 20.7
Windsor Machines 355 1.91 5 3.2 11.57
AXISCADES Technologies 809.15 5 5 1.11 8.89

Overview of Companies Hitting Circuits Today

  • Borosil Renewables

Borosil Renewables Limited saw a significant surge in its stock price, rising by ₹28.70 or 5% to close at ₹603.10. The stock opened at ₹574.4 and showed a strong performance, reaching a high of ₹603.10 during the day. However, the price did not maintain the peak and closed at ₹603.10, reflecting a strong recovery from the lower levels during the session.

  • Shaily Engineering Plastics

Shaily Engineering Plastics Limited experienced a positive movement in its stock, gaining ₹36.95 or 2.35% to close at ₹1,610. The stock opened at ₹1,598.40 and initially showed some volatility but surged to a high of ₹1,651.70. Despite the fluctuation, the stock ended on a positive note, closing well above its opening price.

  • ITI 

ITI Limited faced a notable decline, dropping ₹40.50 or 8.45% to close at ₹439. The stock opened at ₹480.9 and showed some strength, reaching a high of ₹489.4. However, downward pressure led to a significant drop in the stock, closing at ₹439, reflecting a substantial loss for the day, with the day’s low reaching ₹431.55.

  • Shakti Pumps (India) 

Shakti Pumps (India) Limited witnessed a drop of ₹60.85 or 4.52% to close at ₹1,284. The stock opened at ₹1,357 and initially showed signs of strength, hitting a high of ₹1,387. However, the stock faced pressure throughout the session, and by the end of the day, it closed lower at ₹1,284, marking a significant decline.

  • Reliance Infrastructure 

Reliance Infrastructure Limited observed a decline of ₹15.10 or 5%, closing at ₹287.05. The stock opened at ₹303.85 and showed an upward movement, reaching a high of ₹304.45. However, the stock saw downward momentum, with the price sliding to ₹287.05 by the close of the session, indicating a substantial drop from the day’s high.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Borosil Renewables Shares in Focus; Expands Solar Glass Capacity by 50%

Borosil Renewables has received approval to expand its solar glass manufacturing capacity by 50%, increasing from 1,000 to 1,500 tons per day. The move supports India’s self-reliance in solar production and mitigates imported competition.

Expansion Details

Borosil Renewables Limited, India’s largest solar glass manufacturer, is set to increase its production capacity by 50%.

Following approval from the Board of Directors in December 2024, the capacity will rise from 1,000 tons to 1,500 tons per day, the company said in a press release on the stock exchanges.

This expansion follows the government’s introduction of a “Reference Price” for imports, addressing the unfair dumping of cheap solar glass by Chinese and Vietnamese companies.

The move is aimed at bolstering domestic production, ensuring a reliable supply chain for local PV module manufacturers, and minimizing foreign exchange outflows.

Q2 FY25 Results Highlights

In Q2 FY25, the company saw a decline in revenue to ₹372.42 crore, down ₹29.24 crore from ₹401.66 crore in Q2 FY24. EBITDA also decreased by ₹2.57 crore, falling to ₹34.57 crore, though EBITDA margin slightly improved to 9.3%.

The company faced an increase in depreciation and a slight rise in interest expense. The profit before tax (PBT) worsened, showing a larger loss of ₹8.38 crore, while net profit after tax (PAT) declined sharply to ₹-13.13 crore, compared to ₹30.47 crore in Q2 FY24.

Share Price Performance

Borosil Renewables Limited’s share price has seen a notable rise today, increasing by 5% to reach a high of ₹603.10, up from the previous close of ₹574.40. The stock opened at ₹603.10, indicating strong upward momentum.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Swan Energy Share Price Falls 1.5%; Down for the 2nd Straight Day

Swan Energy’s share price is currently trading at ₹685.95, reflecting a decline of ₹10.90 as of 11:45 AM. The stock opened at ₹698.00, reached a high of ₹702.70, and dipped to a low of ₹683.65. This marks the second consecutive day of losses, following a 4.05% drop yesterday, which erased the gains from January 7, 2025.

Recent Business Developments 

In a recent business development on January 02, 2025, Swan Energy informed exchanges, that the company and its special purpose vehicle, Hazel Infra Limited, successfully acquired Reliance Naval and Engineering Limited.

This acquisition led to the renaming of RNEL to “Swan Defence and Heavy Industries Limited” as of January 2, 2025, following approval from the Registrar of Companies.

In another business development, the company informed exchanges that it has entered into a heads of agreement with AG&P LNG to jointly develop LNG supply ventures. This collaboration will involve setting up joint ventures for LNG supply and regasification, with Swan Energy holding a 51% stake, and AG&P LNG the remaining 49%.

Swan Energy Q2 FY25 Results Highlights

Swan Energy’s Q2 FY25 results showed a 39.38% drop in net profit to ₹51.27 crore compared to the same period last year, attributed to a 15.61% decrease in revenue to ₹1,032.19 crore.

Profit before tax fell by 67.82%, while expenses were reduced by 4.33%. Significant revenue declines were observed across its textile, energy, and construction segments. However, on a half-year basis, the company saw a 19.27% increase in net profit and a 7.21% rise in revenue

About Swan Energy

Swan Energy operates in various sectors including textiles, real estate, and energy. The company produces fabrics such as cotton, polyester-cotton, and linen, and engages in the development of residential and commercial properties. Swan Energy also operates a liquefied natural gas (LNG) terminal in Gujarat with a 10MMTPA capacity and is involved in power generation, warehousing, and petrochemical manufacturing.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.