GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a higher opening on Wednesday. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty was trading 56 points or 0.24% higher at 23,030 indicating a higher start for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 closed the session 128.10 points or 0.56% higher at 22,957.25, while the BSE Sensex added 535.24 points or 0.71% to close at 75,901.41.

ITC has informed stock exchanges that its demerged hotel business ITC Hotels to be listed on January 29, following the approval from both the bourses. To achieve this, ITC has also provided general advice on how to allocate the acquisition cost of ITC’s ordinary shares and the equity shares of ITC Hotels Ltd.

Indian Oil Corp (IOC) has set its capex target for the next fiscal year 2025-26 at Rs 33,000 crore against the capex target of Rs 35,000 crore in FY25, the company said. As of December, the company has incurred a capex of Rs 28,000 crore for the fiscal. The firm has laid out plans to increase its refining capacity at three of its refineries — Panipat (Haryana), Gujarat and Barauni (Bihar). 

JSW Energy reported a 27% decline in net profit for Q3 FY25 at Rs 168 crore, compared to Rs 231 crore in Q3 FY24, missing analyst estimates of Rs 347 crore. Its revenue for the quarter also fell short of expectations, dropping 4.1% to Rs 2,439 crore from Rs 2,543 crore in Q3 FY24. Analysts had projected revenue of Rs 2,958 crore.

Nandan Denim reported a 100.39% rise in its Q3 FY25 net sales at Rs 926.15 crore, up from the corresponding period’s Rs 462.18 crore. The denim company’s net profit, however, declined 17.3% to Rs 6.58 crore from the corresponding year’s Rs 7.96 crore. 

Arvind Ltd. reported double-digit growth in consolidated revenue and profit after tax (PAT) for Q3 FY25. The textile and garment conglomerate clocked in a consolidated revenue of Rs 2,089 crore, marking an 11% year-on-year increase from Q3 FY24’s revenue of Rs 1,888 crore. Its PAT rose to the company’s highest in 10 quarters at Rs 103 crore, rising 13% from the year-ago period’s Rs 92 crore.

Colgate Palmolive (India) Ltd reported a profit of Rs 322.78 crore during the fiscal third quarter, recording a drop of 2.22% in comparison to Rs 330.11 crore during the same period of the previous financial year. It posted revenue from operations at Rs 1461.84 crore, up 4.74% as against Rs 1395.65 crore during the third quarter of FY24. 

Hindustan Zinc reported a net profit of Rs 2,678 crore in Q3 FY25, a growth of 32.05% in comparison to Rs 2,028 crore during the third quarter of the previous financial year. The profit growth was driven by metal volume, cost reduction and market tailwinds, it said. It posted revenue from operations at Rs 8,315 crore, up 17.66% as against Rs 7,067 crore during the corresponding quarter of FY24.

IIFL Group stocks are in focus as unconfirmed reports indicate there might have been a search operation by the Income Tax Department at the IIFL premises. According to media reports, the IT Department has been conducting search operations since early Tuesday- January 28 morning at the IIFL Group office in downtown Mumbai.

Suzlon Energy reported a 91% year-on-year (YoY) surge in consolidated net profit for Q3 FY25 of the current financial year reaching Rs 386.92 crore. In the same quarter a year ago, the company posted a net profit of Rs 203.04 crore. Its revenue from operations during the quarter rose significantly to Rs 2,968.81 crore, a jump of 91% from Rs 1,552.91 crore in the corresponding period last year.

Bajaj Auto reported a 3.3% year-on-year increase in net profit at Rs 2,108.7 crore for the third quarter that ended on December 31, 2024. In the corresponding quarter of the previous fiscal, Bajaj Auto posted a net profit of Rs 2,042 crore. The company’s revenue from operations was up 5.7% to Rs 12,807 crore against Rs 12,114 crore in the corresponding period of the preceding fiscal.