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Informist, Friday, Jan. 17, 2025

MUMBAI – Shares of Reliance Industries, parent of Reliance Jio Infocomm, may extend gains next week as sentiment towards the stock has improved after its strong earnings for the December quarter, analysts said. Some other telecommunication firms are also expected to announce earnings growth for the December quarter, aided by recent tariff hikes, they said. Besides corporate earnings, likely policy changes in the US after President-elect Donald Trump assumes power on Monday could lend cues to the direction of the stocks, they said.

The recent tariff hikes boosted growth of Reliance Jio Infocomm's revenue for the December quarter. "The remaining impact of the tariff hike is still to play out," Reliance said in a press release Thursday. The tariff hikes helped the company post a 4.2% on-quarter increase in average revenue per user to INR 203.3 during Oct-Dec for Jio Platforms Ltd. The company had announced higher tariffs earlier, which came into effect from July last year. Reliance Jio Infocomm is a subsidiary of Jio Platforms.

Bharti Airtel, Bharti Hexacom, and Tata Communications are expected to post sequential growth in net profit for the December quarter while Indus Tower is seen posting an on-quarter decline in the metric. The December quarter earnings of Tata Communications are due Wednesday, while those of Indus Towers, Tata Teleservices (Maharashtra), and Tejas Networks are scheduled for Thursday.

With Trump set to be sworn in as the 47th President of the US on Monday, investors will watch out for any announcements that could have an impact on the Indian market. "The run-up to President Trump taking charge of the Oval Office combined with stronger-than-expected macro data has led to strengthening of the US dollar, surge in US bond yields and crude oil prices, which are not favourable for foreign flows into emerging markets," Mirae Asset Sharekhan said in a report Friday.

TOP HEADLINES

* Cabinet approves refarming of over 1,100 MHz of spectrum, say sources
* HFCL gets INR 25 bln BSNL order to setup BharatNet network in Punjab
* Rail Vikas gets letter of acceptance of INR 96 bln from Bharat Sanchar Nigam
* HC rejects tax dept's pleas against Samsung India on permanent establishment
* Rail Vikas gets order worth INR 36.22 bln from Bharat Sanchar Nigam
* Tata Comm, JLR extend pact to deliver data-driven connected cars
* ITI gets INR 640 mln orders from Sambalpur University, Central Railways
* Just Dial Oct-Dec PAT falls 14.8% on quarter to INR 1.31 billion
* Vodafone Idea clears its outstanding dues to Indus Towers

Following are the resistance and support levels for the stocks for next week as per calculations by Informist based on their prices on the National Stock Exchange:

End

US$1 = INR 86.61

Reported by Alina Geogy

Edited by Akul Nishant Akhoury

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