Multiple stocks are drawing investor attention today due to a combination of regulatory approvals, quarterly earnings announcements, and significant corporate developments across various sectors.

Regulatory Approvals and Leadership Changes

HDFC Bank received a significant regulatory milestone as the Reserve Bank of India (RBI) approved the reappointment of Kaizad Bharucha as Whole-time Director (Deputy Managing Director) for a three-year term, effective April 19, 2026.

The Competition Commission of India (CCI) granted approval for two major acquisition deals. Tata Steel received clearance for acquiring 50.01% equity share capital of Thriveni Pellets, while RBL Bank's proposed acquisition of certain shareholding by Emirates NBD Bank (P.J.S.C.) also received regulatory approval.

Quarterly Financial Results

Several companies reported their Q3 financial performance with notable results:

AU Small Finance Bank demonstrated strong asset quality improvement with gross NPA declining to 2.30% from 2.41% quarter-on-quarter, while net NPA remained stable at 0.88%. Persistent Systems achieved dollar revenue growth of 17.3% to $422.50 million, though EBIT margin compressed slightly to 14.4% from 14.9% year-on-year.

Corporate Developments and Partnerships

HCL Technologies announced a strategic partnership with Carahsoft Technology Corp to accelerate digital transformation initiatives in the US public sector.

Power Grid Corporation of India's board approved procurement proposals worth ₹914.00 crore for cold spare transformers and reactors, indicating significant infrastructure investment.

Major Business Expansions

JSW Energy's subsidiary, JSW Thermal Energy Two Limited, signed a Power Purchase Agreement (PPA) with West Bengal State Electricity Distribution Company for a greenfield 1,600 MW super/ultra-supercritical thermal power plant.

Embassy Developments announced its expansion into the Mumbai Metropolitan Region (MMR) with plans to invest ₹4,500.00 crore across three residential projects in Worli, Juhu, and Alibaug.

Additional Corporate Actions

United Spirits' board approved additional investment in Sober by subscribing to 1,762 CCPS for ₹3.20 crore, increasing its stake to 25% from 15%. Highway Infrastructure received a Letter of Award (LoA) from the National Highways Authority of India (NHAI) for user-fee agency engagement at Mundka Fee Plaza on the Urban Extension Road-11 corridor connecting Delhi and Haryana.

Today's trading session will also see Q3 results announcements from major companies including Dr Reddy's Laboratories, Eternal, HPCL, Bajaj Consumer Care, Bank of India, and several others across different sectors.

Indian equity markets are poised for another volatile session as global sentiment remains fragile amid ongoing geopolitical tensions and renewed US tariff threats. Market participants are bracing for a weak opening following Tuesday's sharp decline, though Gift Nifty suggests some near-term stability for domestic indices.

Global Market Pressures Impact Sentiment

Asian markets continue to trade under pressure as Japan's bond market experiences a significant sell-off, creating ripple effects across multiple asset classes. The broad global risk-off environment is expected to weigh on Indian equities, with foreign investor selling adding to the downward pressure. Precious metals gold and silver have bucked the trend, continuing to gain momentum amid the uncertain environment.

Ponmudi R, CEO of Enrich Money, noted that Indian equities are likely to open weak due to the combination of global uncertainty and follow-through selling pressure from the previous session's decline. The rupee remains vulnerable in this environment, keeping import-cost risks elevated and adding another layer of concern for market participants.

Mixed Q3 Earnings Disappoint Markets

The third-quarter earnings season has failed to provide the much-needed boost to market sentiment, with results across several heavyweight sectors proving disappointing. Key sectors including IT, Auto, Realty, and select Financials have delivered mixed to weak performance, falling short of investor expectations.

Analysts indicate that the results have been either in line with modest expectations or underwhelming, contributing to the cautious market outlook. This earnings backdrop has shifted investor focus toward the upcoming Union Budget as a potential catalyst for market direction.

Budget Expectations and Market Outlook

With the Union Budget scheduled for February 1, market participants are looking for policy measures that could revive sentiment. Experts anticipate selective buying opportunities, particularly in the small and mid-cap segments, as investors position ahead of potential announcements.

Key areas of expectation include:

• Capex push in railways sector
• Increased defence spending
• Consumption support measures

However, analysts caution that while these expectations remain constructive, they may not be sufficient to counter the prevailing global uncertainty in the near term.

Technical Analysis and Market Dynamics

Market volatility has intensified, with India VIX rising 7.63% to 12.73, reflecting heightened caution and risk aversion among participants. This elevated volatility index underscores the uncertain market environment and increased hedging activity.

Aakash Shah, Technical Research Analyst at Choice Broking, highlighted that derivatives data shows heavy call writing at the 25,500 strike and significant put writing at the 25,100 strike. This establishes the 25,100-25,500 band as a crucial near-term pivot zone for the markets.

Strategic Approach for Investors

Given the current market conditions, analysts recommend a cautious yet constructive approach. Traders are advised to remain selective and focus on key support levels for potential opportunities. Fresh directional positions should only be considered after decisive breakouts above established resistance levels.

The combination of global uncertainty, mixed earnings, and upcoming budget expectations creates a complex environment where short-term technical bounces may emerge if domestic institutional investor inflows can absorb the supply or if foreign institutional investor selling moderates. However, investor confidence in the sustainability of such moves remains low in the current challenging environment.