Stocks to Watch for Jan 29: L&T, Gland Pharma, SBI Card, M&M Fin, RVNL and more

By Admin

29 Jan, 2026

Indian equity markets are set for an active trading session on January 29 as several prominent companies announced their December quarter (Q3 FY26) results, reflecting a mix of strong growth, margin pressures, and selective weakness. From infrastructure and financial services to IT, real estate, and defence, earnings outcomes are likely to influence stock-specific movements. Here are the key stocks to track ahead of Thursday’s trade.

Market overview: mixed Q3 earnings set the tone
A wide range of companies including Larsen & Toubro, M&M Financial Services, Lodha Developers, SBI Cards, Phoenix Mills, Balkrishna Industries, Garden Reach Shipbuilders, NSDL, and Birlasoft reported December quarter results with varied trends in profit, revenue, and margins. While some companies delivered strong operational performance, others faced cost pressures or softer profitability, making stock selection crucial.

Mahindra & Mahindra Financial Services (M&M Fin)
Mahindra & Mahindra Financial Services posted a mixed set of numbers. Net profit for Q3 stood at ₹810.4 crore, beating Street estimates of ₹728 crore but declining 9.9% year-on-year from ₹899.5 crore. Net interest income rose a healthy 20.6% YoY to ₹2,304 crore, though it remained below market expectations. Investors will watch asset quality and growth outlook closely.

Lodha Developers
Lodha Developers reported a marginal 1.3% YoY rise in net profit at ₹956.9 crore, while revenue grew a solid 14.4% to ₹4,672 crore. EBITDA increased 8.4% YoY, but operating margin softened to 30.3% from 32%, indicating rising costs despite strong sales momentum.

Cochin Shipyard
Cochin Shipyard delivered mixed results. Net profit declined 18.3% YoY to ₹144.6 crore, even as revenue rose 17.7% to ₹1,350.4 crore. EBITDA fell sharply and margins contracted to 13.8%. The company also announced a second interim dividend of ₹3.50 per share, with February 3, 2026, as the record date.

SBI Cards and Payment Services
SBI Cards and Payment Services posted a strong quarter, with net profit jumping 45.3% YoY to ₹556.6 crore. Revenue increased 11% to ₹5,127.3 crore, while finance costs declined 5%. Spending momentum remained robust, with total spends surging 33% YoY and cards-in-force rising to 2.18 crore, supporting a positive outlook.

Union Bank of India
Union Bank of India announced a key management change. Avinash Prabhu will step down as CFO on January 31, with Dhirendra Jain taking over from February 1. While not an earnings trigger, leadership continuity will be closely monitored by investors.

Phoenix Mills
Phoenix Mills reported healthy performance, with net profit rising 4.2% YoY to ₹275.8 crore and revenue up 15% to ₹1,121 crore. EBITDA growth of 18.6% and margin expansion to 58.5% highlighted strong operational efficiency in its mall portfolio.

GPT Infraprojects
GPT Infraprojects delivered mixed results. Net profit declined 6% YoY to ₹20.1 crore, while revenue grew modestly by 2.1%. EBITDA rose 11.7%, leading to an improvement in operating margin to 13.4%.

Sundram Fasteners
Sundram Fasteners reported largely steady performance. Net profit increased marginally to ₹130.5 crore, while revenue rose 6.9%. EBITDA growth remained stable, though margins saw a slight dip.

Star Health and Allied Insurance
Star Health and Allied Insurance posted weak results. Net profit plunged 40.5% YoY to ₹128.2 crore, despite a near 12% rise in net earned premium. Underwriting losses widened sharply, weighing on overall profitability.

Garden Reach Shipbuilders & Engineers
Garden Reach Shipbuilders & Engineers delivered a standout quarter. Net profit surged 73.9% YoY to ₹170.7 crore, while revenue jumped 49%. EBITDA more than doubled, and margins improved to 9%, reflecting strong execution and operating leverage.

Sagility
Sagility reported strong growth, with net profit rising 23.4% YoY to ₹267.6 crore and revenue up 35.7%. EBITDA increased over 30%, though margins moderated slightly.

LT Foods and Heritage Foods
LT Foods posted strong growth, with net profit up 9.8% YoY and revenue rising 23.5%. In contrast, Heritage Foods reported weaker profitability, with net profit down nearly 20% despite revenue growth.

eClerx Services
eClerx Services delivered a strong quarter, with net profit rising 39.4% YoY and revenue growing 25.3%. Margin expansion to 25.8% reflected improved operating efficiency.

NSDL
NSDL reported mixed results. Net profit rose 4.4% YoY, while revenue dipped marginally. EBITDA growth of 18.5% led to a sharp improvement in operating margins, which investors may view positively.

Birlasoft
Birlasoft posted a mixed performance. While revenue declined 1.1% YoY, net profit rose modestly and EBIT surged over 58%, driving a significant margin improvement to 16.7%.

Outlook for Jan 29 trade
With such a diverse set of earnings outcomes, January 29 is expected to be driven by stock-specific reactions rather than broad market trends. Strong operational performers like SBI Cards, Garden Reach Shipbuilders, eClerx, and Phoenix Mills may see positive momentum, while companies with margin pressure or profit declines could remain under scrutiny. Investors should track management commentary and forward guidance closely during the trading session.