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Equity benchmarks ended sharply lower on January 20, with the Nifty 50 declining 353 points, or 1.38%, to close at 25,232. The BSE Sensex also saw a significant drop, losing 1,066 points, or 1.28%, to settle at 82,180. This broader market decline sets a cautious tone for today's trading.
Key Earnings Today
January 21, 2026, is a crucial day for corporate results, with several major companies scheduled to announce their third-quarter earnings. The list includes Dr. Reddy’s Laboratories, HPCL, Tata Communications, Bank of India, Canara HSBC Life Insurance, and UTI AMC. Investors will also be scrutinizing results from Dalmia Bharat, Jindal Stainless, KEI Industries, Supreme Industries, Oracle Financial Services, Bajaj Consumer, Muthoot Capital, KPI Green, and Anant Raj, among others.
Stocks Under Scrutiny
Several individual stocks are expected to draw investor attention due to specific corporate developments. HDFC Bank received Reserve Bank of India approval for the appointment of Kaizad Bharucha as a whole-time director, effective April 19, 2026. This regulatory nod signals continuity in key leadership.
United Spirits reported a net profit of ₹529 crore for Q3FY26 on revenues of ₹3,683 crore. However, its earnings before interest, tax, depreciation, and amortisation (EBITDA) came in at ₹618 crore, with an operating margin that declined to 16.8% from an expected 17.5%, indicating pressure on profitability.
Persistent Systems posted a 5.5% quarter-on-quarter surge in Q3 revenue to ₹3,778.2 crore. Despite this top-line growth, net profit declined 6.7% sequentially to ₹439.4 crore. The company’s operating margin fell to 14.4% from 16.3%, primarily due to a one-time labour code impact of ₹89 crore.
JSW Energy’s subsidiary, JSW Thermal Energy Two, has signed a significant power purchase agreement with West Bengal State Electricity Distribution Company. The deal is for a 1,600-megawatt thermal power project in Salboni, West Bengal, to be developed in two 800 MW units and commissioned within six years.
RBL Bank announced that the Competition Commission of India has approved Emirates NBD Bank’s proposed acquisition of a controlling stake. This transaction includes an open offer to public shareholders and a preferential allotment, paving the way for further integration.
DCM Shriram reported a 19% year-on-year decline in its Q3 net profit to ₹212 crore, despite a 13.8% rise in revenue to ₹4,003 crore. While EBITDA increased by 7.1% to ₹531.5 crore, operating margins narrowed to 13.3% from 14.1%.
CreditAccess Grameen showed a strong turnaround, posting a Q3 net profit of ₹252 crore against a loss of ₹100 crore in the prior-year quarter. Net interest income grew 13% year-on-year to ₹976 crore.
Shoppers Stop experienced a sharp drop in Q3 profit, falling to ₹16.1 crore from ₹352.2 crore a year ago. Revenue saw a modest 2.6% increase to ₹1,415 crore, but margins slipped to 15.4% from 17.7%.
Rallis India posted an 81.8% year-on-year decline in Q3 net profit to ₹2 crore, though revenue grew 19.3% to ₹623 crore. Separately, Cyient DLM reported a 2.7% year-on-year rise in Q3 net profit to ₹11.2 crore, noting that the previous quarter’s profit included a significant one-time income.