Indian Stock Market Set for Muted Opening Amid Global Mixed Signals
The Indian stock market is anticipated to commence trading on a subdued note this Friday, reflecting the mixed sentiment prevailing in global financial markets. Benchmark indices, including the Sensex and Nifty 50, are expected to closely follow the trajectory of international markets, as Asian markets have shown gains while Wall Street experienced a rally overnight.
Key Stocks to Watch on January 23, 2026
Investors should keep a close eye on several prominent companies as they release their quarterly financial results today. The following stocks are among those scheduled to announce their Q3 earnings:
- IndusInd Bank
- Cipla
- Shriram Finance
- JSW Steel
- Adani Green Energy
- Bharat Petroleum Corporation Ltd (BPCL)
- DCB Bank
- Godrej Consumer Products
- India Cements
- JSW Energy
- Laurus Labs
- Multi Commodity Exchange of India
- Piramal Finance
- Sona BLW Precision Forgings
- Welspun Specialty Solutions
In total, fifty-four companies are set to declare their earnings today, making it a significant day for market participants.
Recent Corporate Developments and Results
InterGlobe Aviation, the operator of IndiGo airlines, reported a consolidated net profit of ₹549.1 crore for Q3FY26. This represents a substantial decline of 77.6% compared to the ₹2,448 crore profit recorded in the same quarter last year. The sharp fall is attributed to an exceptional loss of ₹1,546.5 crore incurred during the December quarter. Despite the profit drop, the company's revenue increased by 6.2% year-over-year to ₹23,471.9 crore. EBITDAR (excluding forex) decreased by 5.5% YoY to ₹7,043.4 crore, while the EBITDAR margin contracted to 30% from 33.7%.
Bandhan Bank witnessed a 51.8% decline in net profit for Q3FY26, falling to ₹205.6 crore from ₹426.5 crore in the corresponding period last year. The bank's net interest income (NII) also saw a reduction of 4.5% YoY, settling at ₹2,688.3 crore. Provisions and contingencies decreased by 16% to ₹1,154.6 crore from ₹1,376 crore. On a positive note, the gross non-performing assets (NPA) ratio improved to 3.33% from 5.02%, and the net NPA ratio dropped to 0.99% from 1.37% quarter-over-quarter.
Reliance Industries has undertaken a significant corporate restructuring by amalgamating sixteen step-down wholly owned subsidiaries into its clean-energy subsidiary, Reliance New Energy Limited. This move is expected to streamline operations and enhance focus on renewable energy initiatives.
Ashoka Buildcon has received a Letter of Acceptance for a project valued at ₹307.71 crore from the Public Works Department in Daman. The contract involves the construction of a proposed signature bridge, marking an important infrastructure development.
NTPC Green Energy has entered into a Memorandum of Understanding (MoU) with the Government of Uttar Pradesh to collaborate on the development of renewable energy and green hydrogen projects. This partnership aims to bolster the state's clean energy infrastructure.
Oil and Natural Gas Corporation (ONGC) has acquired a 50% stake each in Bharat Ethane One IFSC and Bharat Ethane Two IFSC through a private placement. This strategic investment is part of ONGC's efforts to expand its portfolio in the energy sector.
Market participants are advised to stay updated with live stock market developments throughout the trading session to make informed investment decisions.
