Waaree Renewable Technologies shares surged 667% in 4 months but recently fell 68% due to a double-top pattern. Analysts advise avoiding the stock amid bearish momentum and suggest waiting for a rebound near support levels around Rs 740. Immediate support is at Rs 875, with resistance at Rs 1,118-1,190.
KFin Technologies' shares surged 9.8% to Rs 1,212.70 after reporting a 34.9% YoY increase in profit after tax (PAT) to Rs 90.18 crore. The companys PAT margin was 31.1%, and revenue from operations grew 32.6% YoY to Rs 290 crore. In Q3 FY25, international and investor solutions revenue rose by 52.6%, while VAS revenue grew by 61.3%.
Paytm parent One97 Communications shares fell by up to 9% due to ED investigations into cryptocurrency scams involving several payment gateways. The ED has frozen Rs 500 crore in these gateways' virtual accounts related to scams run by Chinese nationals, impacting platforms like PayU, Razorpay, Easebuzz, and others.
Shares of Cyient Ltd fell 18.58% after weak Q3 FY25 results and CEO resignation. The DET segment saw a drop in YoY profit, while revenue guidance for FY25 was revised downward. Leadership change and execution issues led to stock downgrades by JP Morgan and Emkay Global.
Muhammad Yunus, head of Bangladesh's interim government, criticised the previous administration's allegedly fake economic growth and corruption. Yunus emphasised the importance of inclusive growth and reducing inequality. He called for the extradition of former Sheikh Hasina to Bangladesh to face charges, stressing strained India-Bangladesh relations.
The Bank of Japan raised its interest rates to 0.5%, the highest level since the 2008 financial crisis, demonstrating confidence in stable inflation around the 2% target. The central bank's decision follows rising wages and aims to gradually increase rates to around 1%, amidst stable financial markets.
Indus Towers' shares surged by nearly 2% following a 160% YoY jump in Q3 net profit to Rs 4,003 crore, driven by increased tower additions and overdue collections from Vodafone Idea. The company plans to expand into the EV charging sector and expects significant dividend payouts, with analysts maintaining a 'Buy' rating.
In the Nifty200 pack, five stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on January 23, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
