Market News
3 min read | Updated on February 20, 2025, 11:41 IST
SUMMARY
Shares of Hindalco Industries Ltd, India’s biggest aluminium manufacturing company, have been rising for the past seven straight sessions. The stock has rallied a cumulative 7.4% during this period. Reliance Industries Ltd (RIL) shares have been posting a marginal increase for the past five consecutive sessions and have risen 1.6% cumulatively during this period.
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Jubilant Foodworks shares rose for 6th straight session, rising nearly 11%. | Image: Shutterstock
Indian stock markets have been on a slippery path so far in February. The benchmark equity indices NIFTY and SENSEX have fallen in 11 of the past 12 sessions due to consistent foreign fund outflows and weak corporate earnings in the December quarter.
However, surviving this major selloff, a few stocks have emerged as key outliers by rallying for at least the last five consecutive sessions.
Last week, Jubilant FoodWorks reported a 19% year-on-year increase in its standalone revenue from operations to ₹1,611 crore in the December 2024 quarter (Q3FY25) compared to ₹1,355 crore a year ago. However, the company’s standalone net profit declined 33% YoY to ₹41 crore for Q3FY25 as against ₹61 crore in Q3FY24.
The company’s shareholding data also showed that more mutual funds added Jubilant Foodworks to their portfolio in January 2025. The number of MF schemes holding the stock increased to 175 in January compared to 154 in December 2024.
RIL was in the spotlight this week after the Union Ministry of Heavy Industries signed a programme agreement with its subsidiary Reliance New Energy Battery Ltd for manufacturing advanced battery cells. The agreement grants Reliance a 10 gigawatt-hour (GWh) capacity under the Production-Linked Incentive (PLI) Scheme for Advanced Chemistry Cell Battery Storage.
This allocation makes Reliance eligible for incentives under the ₹18,100-crore PLI scheme. However, the exact amount of subsidies that the company is eligible to receive was not disclosed.
This week, Hindalco Industries reported a 60% growth in its Q3 FY25 consolidated net profit to ₹3,735 crore compared with ₹ 2,331 crore in the year-ago quarter. Revenue from operations rose 11% to ₹58,390 crore in Q3FY25 from ₹52,808 crore in Q3FY24.
The company’s aluminium upstream business achieved a record quarterly operating profit of ₹4,222 crore, marking a 73% YoY increase and industry-leading operating margins of 42%.
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