Daijiworld Media Network - New Delhi
New Delhi, Jan 22: The Indian stock market is expected to open on a positive note on Wednesday, January 22, with the Sensex and Nifty 50 likely to see higher starts. This comes as Asian markets show a positive trend, supported by President Donald Trump’s push to boost investment in artificial intelligence, which has enhanced the outlook for tech companies in the region. The U.S. markets ended on a high note, fuelled by hopes that Trump’s policies would further strengthen the world’s largest economy. Meanwhile, US bonds have continued to adjust following a recent surge in yields.
In corporate news, ICICI Prudential Life Insurance reported a 43% increase in net profit for the third quarter of FY25, reaching Rs 326 cr, compared to Rs 227 cr in the same period last year. PNB Housing Finance also saw a significant jump in profit, with a 43% rise in net profit for the December quarter, amounting to Rs 483 cr, up from Rs 338 cr a year earlier.
In the banking sector, India’s largest private-sector bank is set to announce its results for the December quarter today, with the report expected after market hours. Tata Technologies reported a 1% dip in net profit for the third quarter of FY25, posting Rs 168.64 cr, slightly lower than Rs 170.22 cr in the same period last year.
Meanwhile, the company has joined forces with Minespider, a blockchain-powered traceability solutions provider, to launch MOBIUS+, an advanced platform for managing battery lifecycles. In terms of financial results, the lender reported a 17.91% drop in standalone net profit for Q3FY25, totalling Rs 110.6 cr, down from Rs 134.6 cr in the same period last year. However, the net interest income (NII) showed growth, increasing 8% to Rs 593 cr.
In other news, a company posted a consolidated net profit of Rs 116.52 cr for Q3FY25, benefiting from the sale of investments. Another company saw a significant rise in its net profit to Rs 8 cr during the December quarter, up from Rs 1.11 cr in the same period last year, driven by higher revenues.