NIFTY50 trades above 26,300; Reliance Industries, PNB, Bank of Maharashtra among buzzing shares

The Indian equity benchmarks were trading in a narrow range on Monday, January 5, as gains in index heavyweight ICICI Bank, Axis Bank, State Bank of India, Bharat Electronics and Maruti Suzuki were offset by losses in HDFC Bank, Infosys, Bajaj Finance, HCL Technologies, TCS and Eternal. The SENSEX was trading in a narrow range of 367 points and NIFTY50 index turned flat after hitting record high of 26,373.

As of 12:34 pm, the SENSEX was down 27 points at 85,735 and NIFTY50 index was up 11 points at 26,340.

With today's surge in Reliance Industries share price, its market capitalisation rose to ₹21.62 lakh crore and in the last four trading sessions the market capitalisation of the country's most valuable company has risen by ₹83,000 crore.

Global investment bank Jefferies in a note said that Reliance Industries and ONGC could benefit from US takeover of Venezuelan oil. US oil majors may invest to drive up production, and this could weigh on crude prices in 2027-28, unless OPEC+ decides to balance the market.

Lifting of US sanctions would allow Reliance to buy advantaged Venezuelan crude and ONGC might receive $500 million of unpaid dividends, Jefferies noted.

Reliance has in the past purchased 20% of its daily crude requirement from PDVSA (state-owned oil and gas company of Venezuela) and it could tie up supplies at a $5-8/bbl discount to Brent which could aid its gross refining margins (GRMs) going ahead, Jefferies added.

Bank of Maharashtra on Monday said that its total business in December quarter jumped 17.24% to ₹5.95 lakh crore compared with ₹5.07 lakh crore in the same month last year.

The bank's total deposits advanced 15.3% to ₹3.21 lakh crore from ₹2.79 lakh crore and its CASA deposits advanced nearly 16% to ₹1.59 lakh crore compared with ₹1.37 lakh crore in the year.

The lender in a regulatory filing said its global business grew 3.8% sequentially and 9.57% year-on-year (YoY) to ₹28.92 lakh crore. Its domestic business came in at ₹27,65,288 crore, up 3.11% QoQ and 9.09% YoY.

The global deposits also grew 8.54% to ₹16,60,385 crore. Sequentially, it went up 2.68%. The state-run lender's domestic deposits for the period under review stood at ₹15,97,487 crore, up 2.14% QoQ and 8.32% YoY.

Global advances increased 5.36% on a quarterly basis and 10.98% YoY to ₹12,32,245 crore, while domestic advances came in at ₹11,67,801 crore, up 4.47% QoQ and 10.15% YoY.

The jewellery firm reported standalone revenue growth of approximately 37% year-on-year (YoY), owing to robust consumer demand during the ongoing festival and wedding season.

The company said it remains committed to its target of achieving a debt-free status in the near future. “Notably, since the execution of the Settlement Agreement with the Banks on 30th September 2024, the Company has already reduced its outstanding debt by approximately 68%, demonstrating significant progress towards its financial goals,” PC Jeweller said in a regulatory filing.

The company announced a 26% YoY jump in revenue for the quarter ending December 31. The exchange filing read, The company delivered a strong 26% year-on-year consolidated revenue growth, driven by sustained momentum in preventive and wellness health check-ups under TruHealth, along with a strong increase in specialty testing volumes across both B2C and B2B channels.

In a regulatory filing on Sunday, Bank of Baroda said its global advances increased 14.57% year-on-year (YoY) to ₹ 13.44 lakh crore in Q3 FY26. Its global deposits also grew 10.25% YoY to ₹ 15.47 lakh crore as of December 31, 2025. The lender’s global business of the bank surged 12.22% YoY to ₹ 28.91 lakh crore in Q3 FY26.

The company in a regulatory filing said its standalone revenue from operations for Q3 FY26 stood at ₹17,612.62 crore as compared to ₹15,565.23 crore in the same quarter of the previous fiscal year. DMart had reported standalone revenues of ₹13,247.33 crore and ₹11,304.58 in the same quarter of FY24 and FY23, respectively.