..... . VALI disclosures . .....: 14/01/26, The Economic Times REPORT

Wednesday, January 14, 2026

14/01/26, The Economic Times REPORT

Stocks to Watch Today: Several stocks are likely to remain in focus today as companies across insurance, banking, IT services, hospitality, EVs and infrastructure reported their quarterly results, announced corporate developments, or featured in ongoing IPO activity.

Here is a detailed company-wise roundup of key updates investors should track.

Quarterly Results

ICICI Lombard Q3 PAT falls 9%

General insurer ICICI Lombard on Tuesday reported a 9 per cent decline in profit after tax at Rs 659 crore for the three months ended December 2025. The company had posted a profit after tax of Rs 724 crore in the October-December quarter of FY25.

ICICI Prudential Life Q3 PAT rises

ICICI Prudential Life Insurance Company on Tuesday reported a 19.6 per cent growth in profit after tax at Rs 390 crore for the three months ended December 31, 2025.

Bank of Maharashtra Q3 net profit jumps

State-owned Bank of Maharashtra on Tuesday posted a 26.5 per cent rise in net profit to Rs 1,779 crore for the third quarter ended December 2025, driven by rising interest income.

Tata Elxsi net profit surges

Tata Elxsi reported a 29.6 per cent jump in net profit to Rs 109 crore in Q3FY26, compared with Rs 84.1 crore in the previous quarter. Revenue increased 3.8 per cent quarter-on-quarter to Rs 953.5 crore, while EBIT grew 17.7 per cent to Rs 199.9 crore.

Just Dial's net profit declines

Just Dial reported a 10.2 per cent year-on-year decline in net profit to Rs 117.9 crore in the third quarter, compared with Rs 131.3 crore a year ago. Revenue rose 6.4 per cent to Rs 305.6 crore, while EBITDA increased 9.6 per cent to Rs 95.2 crore.

5paisa Capital's net profit falls

5paisa Capital reported a 24 per cent year-on-year decline in net profit to Rs 12.3 crore for the December quarter, compared with Rs 16.2 crore in the year-ago period.

Corporate Developments

Indian Hotels Company enters Tuticorin with 100-Key Ginger Hotel

Indian Hotels Company on Tuesday announced its foray into Tuticorin, Tamil Nadu, with the signing of a 100-key greenfield Ginger hotel.

Ola Electric reintroduces Ola Muhurat Mahotsav Campaign

Ola Electric on Tuesday said it has reintroduced its Ola Muhurat Mahotsav campaign with never-before-seen prices for its 4680 Bharat Cell product portfolio.

Tata Motors Passenger Vehicles sales growth

Passenger vehicle sales in India are expected to grow around 10 per cent in 2026, extending momentum from GST rate cuts, with SUVs likely to witness accelerated demand, according to Tata Motors Passenger Vehicles Managing Director and CEO Shailesh Chandra, as reported by PTI.

GMR Airports launches India's first airside reefer truck

GMR Aero Cargo and Logistics on Tuesday announced the launch of what it described as India's first-of-its-kind airside reefer truck at the Rajiv Gandhi International Airport, marking a milestone in temperature-controlled cargo operations.

NLC India signs MoU with Gujarat Government

NLC India Ltd, a Navratna PSU under the Ministry of Coal, has signed a non-binding memorandum of understanding with the Gujarat government to develop large-scale renewable energy projects in the state, involving a potential investment of around Rs 25,000 crore.

Thomas Cook India signs MoU

Thomas Cook India has signed a memorandum of understanding with the Gujarat government to boost and promote Gujarat's domestic tourism.

IPOs in Focus

Bharat Coking Coal IPO moves to allotment phase

The first IPO of 2026 is set to enter its next phase following the conclusion of the three-day subscription window. The IPO will now move to the allotment stage, which can be checked on the registrar's website, Kfin Technologies Ltd, or on NSE and BSE. Ahead of allotment, the GMP of the IPO is at Rs 13, reflecting an estimated listing price of Rs 36, indicating a listing premium of over 56 per cent.

Amagi Media Labs IPO sees weak day-one demand

The Amagi Media Labs IPO saw muted investor interest on the first day, with the issue subscribed to just 7 per cent. Ahead of the second day, the GMP of the IPO stands at Rs 20, reflecting an estimated listing price of Rs 381 and a listing premium of 5.5 per cent.

source: Dailyhunt

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice.

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Trade Cycles

The four important features of Trade Cycle are (i) Recovery, (ii) Boom, (iii) Recession, and (iv) Depression!

The trades cycle or business cycle are cyclical fluctuations of an economy. A full trade cycle has got four phases: (i) Recovery, (ii) Boom, (iii) Recession, and (iv) depression. The upward phase of a trade cycle or prosperity is divided into two stages—recovery and boom, and the downward phase of a trade cycle is also divided into two stages—recession and depression.

Phases of Trade Cycle:

The phases of trade cycle are explained with a diagram:

(1) Recovery:

In the early period of recovery, entrepreneurs increase the level of investment which in turn increases employment and income. Employment increases purchasing power and this leads to an increase in demand for consumer goods.

As a result, demand for goods will press upon their supply and it shall, thereby, lead to a rise in prices. The demand for consumer’s goods shall encourage the demand for producer’s goods.

The rise in prices shall depend upon the gestation period of investment. The longer the period of investment, the higher shall be the price rise. The rise of prices shall bring about a change in the distribution of income. Rent, wages, interest do not rise in the same proportion as prices.

Consequently, the margin of profit improves. The wholesale prices rise more than retail prices. The prices of raw materials rise more than the prices of semi-finished goods and the prices of semi-finished goods use more than the prices of finished goods.

(2) Boom:

The rate of investment increases still further. Owing to the spread of a wave of optimism in business, the level of production increases and the boom gathers momentum. More investment is possible only through credit creation. During a period of boom, the economy surpasses the level of full employment and enters a stage of over full employment.

(3) Recession:

The orders for raw materials are reduced on the onset of a recession. The rate of investment in producers’ goods industries and housing construction declines. Liquidity preference rises in society and owing to a contraction of money supply, the prices falls. A wave of pessimism spreads in business and those markets which were sometime before sellers markets become buyer’s markets now.

(4) Depression:

The main feature of a depression is a general fall in economic activity. Production, employment and income decline. The prices fall and the main factor responsible for it is, a fall in the purchasing power.

The distribution of national income changes. As the costs are rigid in nature, the margin of profit declines. Machines are not used to their full capacity in factories, because effective demand is much less. The prices of finished goods fall less than the prices of raw materials.

✳Reality Tips to Traders

1)Trading in the stock market is a marathon. 2)Protecting your capital is key. (Learn to protect first) 3)Making 0 on the day is better than losing 50k 4)Losses happen; they are part of this business. 5)It’s not you vs. the market. It’s you VS you. 6)You are your biggest enemy; learn to be mentally disciplined. 7)Don’t follow the majority; follow the correct path. 8)Traders without a stop loss end up not being traders for long. 9)There is always another trade. 10)The big money is made waiting for the right set-ups. 11)Waiting for the right trade is the most powerful strategy. 12)It is better to cut a loss than to wait to be proven right. 13)Position sizing can make or break you. 14)Worry about the downside before you even think about the upside. 15)Don’t listen to headlines

..BANKING TERMINOLOGY

There are various types of Banks: PSU Banks, Private Banks, Co-operative/Regional Banks, Small Finance Banks and Foreign Banks. When you deposit money in a bank, let's say the bank gives you an interest rate of 4%. But when the bank lends out this money, they lend it out at say, 12%. The difference of 8% in the above scenario is effectively the profit of the bank! The loans that do not pay interest for 90 days are known as Non-performing Assets. Banks have to provide for such bad loans. Structure of a Bank Asset for a Bank: The asset portion of a bank's capital includes cash, government securities, and interest-earning loans (e.g., mortgages, letters of credit, and inter-bank loans). Liabilities for a Bank: The bank's main liabilities are its capital (including cash reserves and, often, subordinated debt) and deposits. The latter may be from domestic or foreign sources (corporations and firms, private individuals, other banks, and even governments). Banks are required to maintain Liquidity with the Reserve Bank of India: SLR (Statutory Liquidity Ratio): It is the money a bank needs to preserve in the form of cash, gold or government Bonds before providing credit customers. This limitation is added by RBI on banks to make funds available to customers on-demand at your earliest convenience. Banks are required to maintain SLR at 18%. CRR (Cash Reserve Ratio): Banks are required to hold a certain proportion of their deposits in the form of cash. Banks don’t hold these as cash with themselves, but deposit such amounts with RBI / currency chests. CRR rate is at 4.5% currently. Repo Rate: The rate at which the RBI lends short-term money to the banks. The RBI through its Monetary Policy committee changes the repo rate to balance growth and Inflation. Reverse Repo rate: The rate at which banks park their short-term excess liquidity with the RBI. Now let us understand various terminologies for Banks Net Interest Income (NII): This is the spread the bank makes on its lending. It is calculated as Interest Income – Interest Expended Net Interest Margin (NIM): This is the spread the bank makes on its lending. It is the earning which is left after deducting the cost paid to depositors from its yields on Loans. This is denoted in % terms. The formula is Yield on Loans – Cost of funds Capital Adequacy Ratio (CAR): The capital adequacy ratio (CAR) is a measure of a bank's available capital expressed as a percentage of a bank's risk-weighted credit exposures. Essentially, it is the Capital that is available to lend. Tier I Capital – In simple words this capital is freely available with the bank to lend out. Tier II Capital- This is the capital tied up somewhere and is less freely available to lend. In case of an adverse event, the bank can use this capital to lend. Under Basel III norms, a bank’s tier 1+tier 2 capital must be a minimum of 8% of its risk-weighted holdings. The minimum capital adequacy ratio, also including the capital conservation buffer, is 10.5%. Current Account Saving Account (CASA)- There is no interest paid on the Current Account and a small interest rate is paid on a savings account. The combination of both is called CASA which shows the liabilities of the bank on which it pays relatively less interest. Deposits: Bank deposits are a savings product that customers can use to hold an amount of money at a bank for a specified length of time. In return, the financial institution will pay the customer the relevant amount of interest, based on how much they choose to deposit and for how long. Now let us come to NPA. Gross NPA (GNPA): It is the total loans on which no payment has been paid for 90 days or more. GNPA % is usually shown in each Bank’s quarterly results. The percentage is basically the GNPA amount as a % of the total advances. Slippages: Slippages denote the fresh amount of loans that have turned bad in a year. The slippage ratio of a bank is calculated as Fresh accretion of NPAs during the year /Total standard assets at the beginning of the year multiplied by 100. Provisioning Coverage Ratio (PCR): This is the ratio of provisioning to GNPA and indicates the extent of funds a bank has kept aside to cover loan losses. For Instance, a company has GNPAs of Rs 100 and they have set aside 50 Rs, then the PCR is 50%. Net NPA (NNPA): The total figure left after deducting provisions made for bad loans from GNPA. (GNPA – Provisions+upgrades/writeoffs = NNPA) Special Mention Account (SMA) SMA-0 is a category in which stress with respect to the principal and interest has remained overdue for a period of 0 to 30 days. SMA-1 is a category in which stress with respect to the principal and interest has remained overdue for a period of 30-60 days. SMA-2 is a category in which stress with respect to the principal and interest has remained overdue for a period of 60-90 days

..... . VALI disclosures . .....

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Wednesday, January 14, 2026

14/01/26, The Economic Times REPORT

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Today's

15/01/26, Despite external pressures such as the Trump tariff threat and geopolitical uncertainties affecting investor sentiments, the Indian stock market is eagerly looking forward to the third-quarter earnings season, bolstered by significant monetary and fiscal reforms.

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