- GIFT Nifty trades slightly lower near 25,651 signaling a flat to negative Nifty open
- Indian Sensex and Nifty fall 0.7% and 0.6% amid IT sector selloff led by TCS and Infosys
- US S&P 500 futures down 1.57%, Nasdaq drops 2% on tech earnings worries and commodity weakness
Good Morning!
The GIFT Nifty is trading marginally lower near 25,651 indicating a flat to negative open for the benchmark Nifty 50.
US and European index futures are trading lower during Asian trading hours.
- S&P 500 futures trade down 1.57%.
- Euro Stoxx 50 futures down 0.27%
Market Recap
Indian equity benchmarks clocked their worst session since Budget day, led by the declines in Tata Consultancy Services Ltd. and Infosys Ltd. as IT stocks on Thursday entered bear market territory, following a selloff in tech shares in the US on Wednesday.
The BSE Sensex fell 0.7% to below 83,630 and the NSE Nifty 50 managed to close above 25,800 after declining 0.6%. Both the benchmark indices saw their steepest fall since Feb. 1.
US Market Wrap
Worries over tech-sector earnings and weakening commodity markets triggered sharp declines across multiple asset classes, leading to the biggest pullback in equities in more than three weeks. Investors flocked to the safety of government bonds, driving steep selloffs in gold, silver, and cryptocurrencies, with Bitcoin extending its slide, as per reports from Bloomberg.
The S&P 500 fell 1.6%, while the Nasdaq 100 dropped 2%. Cisco Systems tumbled 12% after its cautious margin forecast suggested rising memory‑chip costs are starting to bite. Major tech giants all finished lower, and a software‑focused ETF sank 2.7%.
Asian Market Check
Asian stocks pulled back from record highs as renewed worries about how artificial intelligence may disrupt different industries weighed on US tech shares and pushed investors toward the safety of US Treasuries, as reported by Bloomberg.
The MSCI Asia Pacific Index posted its first decline in six sessions, dragged down largely by losses in Japan, while equities in South Korea managed to notch modest gains.
Commodity Check
Gold held steady after a sharp drop triggered by a broad selloff in global markets — a move that may have been intensified by algorithm-driven trading. The metal hovered around $4,920 an ounce in early trading, following a 3.2% plunge in the prior session, its steepest daily decline in a week, as per reports from Bloomberg.
Crude prices were also under pressure. Oil was on track for its first consecutive weekly loss of the year amid a risk‑off mood across markets, growing worries about an oversupply of crude, and expectations that negotiations between the US and Iran over a nuclear agreement could drag on. West Texas Intermediate stabilized below $63 a barrel after sliding nearly 3% on Thursday, while Brent settled above $67.
Key Events To Watch
- Prime Minister Narendra Modi, Road Transport Minister Nitin Gadkari, SEBI Chairman Tuhin Kanta Pandey to speak at Global Business Summit in New Delhi.
- SIAM to release January auto sales data.
Earnings In Focus
Akums Drugs and Pharmaceuticals, Alkem Laboratories, Azad Engineering, BASF India, Balmer Lawrie Investments, Blue Jet Healthcare, AvenuesAI, EMS, EPL, Eris Lifesciences, Fineotex Chemical, Brainbees Solutions, Fortis Healthcare, Galaxy Surfactants, Gujarat Mineral Development Corporation, Goodluck India, Hindustan Oil Exploration Company, Honda India Power Products, Indigo Paints, Inox Green Energy Services, Inox Wind, Ipca Laboratories, IRB Infrastructure Developers, Jamna Auto Industries, KFin Technologies, Kirloskar Industries, MM Forgings, Info Edge (India), NBCC (India), National Fertilizers, Narayana Hrudayalaya, Polyplex Corporation, RateGain Travel Technologies, Rhi Magnesita India, Shakti Pumps India, Sunflag Iron & Steel Company, Tasty Bite Eatables, Torrent Pharmaceuticals, Vijaya Diagnostic Centre
Earnings Post Market Hours
Muthoot Finance (Standalone, YoY)
- Revenue up 53.6% at Rs. 4,467 crore versus Rs. 2,909 crore
- Calculated NII up 64.2% at Rs. 4,467 crore versus Rs. 2,721 crore
- Net Profit up 94.9% at Rs. 2,656 crore versus Rs. 1,363 crore
Tega Industries (Consolidated, YoY)
- Revenue down 1.2% at Rs. 404 crore versus Rs. 409 crore
- Ebitda down 49.5% at Rs. 46.1 crore versus Rs. 91.2 crore
- Ebitda Margin down 1,090 bps at 11.4% versus 22.3%
- Net Profit down 63.7% at Rs. 19.7 crore versus Rs. 54.2 crore
Praj Industries (Consolidated, YoY)
- Revenue down 1.3% at Rs. 842 crore versus Rs. 853 crore
- Ebitda down 34.9% at Rs. 47.4 crore versus Rs. 72.8 crore
- Ebitda Margin down 290 bps at 5.6% versus 8.5%
- Net Loss at Rs. 12.4 crore versus Profit of Rs. 41.1 crore
Honasa Consumer (Mamaearth) (Consolidated, YoY)
- Revenue up 16.2% at Rs. 602 crore versus Rs. 518 crore
- Ebitda up 150.6% at Rs. 65.4 crore versus Rs. 26.1 crore
- Ebitda Margin up 590 bps at 10.9% versus 5.0%
- Net Profit up 93.1% at Rs. 50.2 crore versus Rs. 26 crore
Zaggle Prepaid Ocean Services (Consolidated, QoQ)
- Revenue up 21.8% at Rs. 526 crore versus Rs. 432 crore
- EBIT up 15.6% at Rs. 42.2 crore versus Rs. 36.5 crore
- EBIT Margin down 40 bps at 8.0% versus 8.4%
- Net Profit up 4.0% at Rs. 36.3 crore versus Rs. 34.9 crore
Indian Hotels (IHCL) (Consolidated, YoY)
- Revenue up 12.2% at Rs. 2,842 crore versus Rs. 2,533 crore
- Ebitda up 11.9% at Rs. 1,076 crore versus Rs. 962 crore
- Ebitda Margin down 10 bps at 37.9% versus 38.0%
- Net Profit up 55.1% at Rs. 903 crore versus Rs. 582 crore
Engineers India (Consolidated, YoY)
- Revenue up 58.2% at Rs. 1,210 crore versus Rs. 765 crore
- Ebitda up 259.6% at Rs. 352 crore versus Rs. 97.9 crore
- Ebitda Margin up 1,630 bps at 29.1% versus 12.8%
- Net Profit at Rs. 347 crore versus Rs. 109 crore
Fine Organic Industries (Consolidated, YoY)
- Revenue up 7.4% at Rs. 555 crore versus Rs. 517 crore
- Ebitda down 8.3% at Rs. 94.4 crore versus Rs. 103 crore
- Ebitda Margin down 290 bps at 17.0% versus 19.9%
- Net Profit down 10.6% at Rs. 73.9 crore versus Rs. 82.7 crore
Hindalco Industries (Consolidated, QoQ)
- Revenue up 0.7% at Rs. 66,521 crore versus Rs. 66,058 crore
- Ebitda down 10.8% at Rs. 7,994 crore versus Rs. 8,966 crore
- Ebitda Margin down 160 bps at 12.0% versus 13.6%
- Net Profit down 56.8% at Rs. 2,049 crore versus Rs. 4,741 crore
Indian Hume Pipe (Standalone, YoY)
- Revenue down 26.0% at Rs. 282 crore versus Rs. 381 crore
- Ebitda down 40.8% at Rs. 22.1 crore versus Rs. 37.3 crore
- Ebitda Margin down 200 bps at 7.8% versus 9.8%
- Net Profit at Rs. 61.5 crore versus Rs. 14.4 crore
Jagran Prakashan (Consolidated, YoY)
- Revenue down 7.7% at Rs. 477 crore versus Rs. 517 crore
- Ebitda down 23.6% at Rs. 71.4 crore versus Rs. 93.5 crore
- Ebitda Margin down 310 bps at 15.0% versus 18.1%
- Net Profit down 13.5% at Rs. 54.1 crore versus Rs. 62.6 crore
Schneider Electric Infrastructure (Standalone, YoY)
- Revenue up 20.0% at Rs. 1,029 crore versus Rs. 857.2 crore
- Ebitda up 23.6% at Rs. 173 crore versus Rs. 140 crore
- Ebitda Margin up 40 bps at 16.8% versus 16.4%
- Net Profit down 12.6% at Rs. 97 crore versus Rs. 111 crore
Petronet LNG (Consolidated, QoQ)
- Revenue up 1.4% at Rs. 11,164 crore versus Rs. 11,009 crore
- Ebitda up 7.3% at Rs. 1,198 crore versus Rs. 1,117 crore
- Ebitda Margin up 60 bps at 10.7% versus 10.1%
- Net Profit up 5.5% at Rs. 846 crore versus Rs. 802 crore
IRCTC (Consolidated, YoY)
- Revenue up 18.3% at Rs. 1,449 crore versus Rs. 1,225 crore
- Ebitda up 11.5% at Rs. 465 crore versus Rs. 417 crore
- Ebitda Margin down 190 bps at 32.1% versus 34.0%
- Net Profit up 15.5% at Rs. 394 crore versus Rs. 341 crore
Vedant Fashions (Manyavar) (Standalone, YoY)
- Revenue down 3.7% at Rs. 492 crore versus Rs. 511 crore
- Ebitda down 9.9% at Rs. 218 crore versus Rs. 242 crore
- Ebitda Margin down 300 bps at 44.4% versus 47.4%
- Net Profit down 14.6% at Rs. 135 crore versus Rs. 158 crore
Mishra Dhatu Nigam – MIDHANI (Consolidated, YoY)
- Revenue up 16.0% at Rs. 276 crore versus Rs. 238 crore
- Ebitda up 4.2% at Rs. 54.6 crore versus Rs. 52.4 crore
- Ebitda Margin down 220 bps at 19.8% versus 22.0%
- Net Profit up 8.2% at Rs. 27.6 crore versus Rs. 25.5 crore
HCC (Consolidated, YoY)
- Revenue down 8.1% at Rs. 925 crore versus Rs. 1,007 crore
- Ebitda at Rs. 67.2 crore versus Loss of Rs. 30.5 crore
- Ebitda Margin at 7.3%
- Net Profit at Rs. 8.1 crore versus Loss of Rs. 38.9 crore
Ingersoll Rand (Standalone, YoY)
- Revenue up 19.1% at Rs. 455 crore versus Rs. 382 crore
- Ebitda up 11.8% at Rs. 114 crore versus Rs. 102 crore
- Ebitda Margin down 170 bps at 25.1% versus 26.8%
- Net Profit down 7.5% at Rs. 71.9 crore versus Rs. 77.7 crore
Puravankara (Consolidated, YoY)
- Revenue up 236.2% at Rs. 1,069 crore versus Rs. 318 crore
- Ebitda at Rs. 219 crore versus Rs. 18.01 crore
- Ebitda Margin up 1,480 bps at 20.5% versus 5.7%
- Net Profit at Rs. 59.9 crore versus Loss of Rs. 92.4 crore
Coal India (Consolidated, YoY)
- Revenue down 5.3% at Rs. 34,924 crore versus Rs. 36,859 crore
- Ebitda down 24.2% at Rs. 9,331 crore versus Rs. 12,318 crore
- Ebitda Margin down 670 bps at 26.7% versus 33.4%
- Net Profit down 15.9% at Rs. 7,157 crore versus Rs. 8,506 crore
DCX Systems (Consolidated, YoY)
- Revenue down 39.5% at Rs. 121 crore versus Rs. 200 crore
- Ebitda Loss at Rs. 5.2 crore versus Profit of Rs. 3 crore
- Net Loss at Rs. 2.4 crore versus Profit of Rs. 10 crore
Indraprastha Gas – IGL (Consolidated, QoQ)
- Revenue up 1.1% at Rs. 4,068 crore versus Rs. 4,023 crore
- Ebitda up 6.8% at Rs. 471 crore versus Rs. 441 crore
- Ebitda Margin up 60 bps at 11.6% versus 11.0%
- Net Profit up 2.1% at Rs. 394 crore versus Rs. 386 crore
Travel Food Services (Consolidated, YoY)
- Revenue up 10.9% at Rs. 456 crore versus Rs. 411 crore
- Ebitda up 14.6% at Rs. 181 crore versus Rs. 158 crore
- Ebitda Margin up 140 bps at 39.7% versus 38.3%
- Net Profit up 35.7% at Rs. 133 crore versus Rs. 97.7 crore
PI Industries (Consolidated, YoY)
- Revenue down 27.6% at Rs. 1,376 crore versus Rs. 1,901 crore
- Ebitda down 41.0% at Rs. 302 crore versus Rs. 512 crore
- Ebitda Margin down 490 bps at 22.0% versus 26.9%
- Net Profit down 16.5% at Rs. 311 crore versus Rs. 373 crore
Inox India (Consolidated, YoY)
- Revenue up 28.4% at Rs. 429 crore versus Rs. 334 crore
- Ebitda up 36.5% at Rs. 94.1 crore versus Rs. 68.9 crore
- Ebitda Margin up 130 bps at 22.0% versus 20.7%
- Net Profit up 4.0% at Rs. 60.7 crore versus Rs. 58.4 crore
Biocon (Consolidated, YoY)
- Revenue up 9.2% at Rs. 4,173 crore versus Rs. 3,821 crore
- Ebitda up 10.9% at Rs. 834 crore versus Rs. 752 crore
- Ebitda Margin up 30 bps at 20.0% versus 19.7%
- Net Profit at Rs. 144 crore versus Rs. 25 crore
Hindware Home Innovation (Consolidated, YoY)
- Revenue up 7.7% at Rs. 640 crore versus Rs. 594 crore
- Ebitda up 63.6% at Rs. 48.1 crore versus Rs. 29.4 crore
- Ebitda Margin up 260 bps at 7.5% versus 4.9%
- Net Profit at Rs. 3.6 crore versus Loss of Rs. 17.8 crore
Entero Healthcare Solutions (Consolidated, YoY)
- Revenue up 25.6% at Rs. 1,707 crore versus Rs. 1,359 crore
- Ebitda up 35.9% at Rs. 67.8 crore versus Rs. 49.9 crore
- Ebitda Margin up 30 bps at 4.0% versus 3.7%
- Net Profit up 8.7% at Rs. 27.6 crore versus Rs. 25.4 crore
Shaily Engineering Plastics (Consolidated, YoY)
- Revenue up 26.8% at Rs. 251 crore versus Rs. 198 crore
- Ebitda up 24.8% at Rs. 57.3 crore versus Rs. 45.9 crore
- Ebitda Margin down 30 bps at 22.9% versus 23.2%
- Net Profit up 48.4% at Rs. 37.4 crore versus Rs. 25.2 crore
Deepak Nitrite (Consolidated, YoY)
- Revenue up 3.8% at Rs. 1,975 crore versus Rs. 1,903 crore
- Ebitda up 25.1% at Rs. 211 crore versus Rs. 169 crore
- Ebitda Margin up 180 bps at 10.7% versus 8.9%
- Net Profit up 1.7% at Rs. 99.8 crore versus Rs. 98.1 crore
Endurance Technologies (Consolidated, YoY)
- Revenue up 26.2% at Rs. 3,608 crore versus Rs. 2,859 crore
- Ebitda up 28.1% at Rs. 477 crore versus Rs. 373 crore
- Ebitda Margin up 20 bps at 13.2% versus 13.0%
- Net Profit up 20.2% at Rs. 222 crore versus Rs. 184 crore
Uflex (Consolidated, YoY)
- Revenue down 3.3% at Rs. 3,612 crore versus Rs. 3,735 crore
- Ebitda down 3.4% at Rs. 439 crore versus Rs. 454 crore
- Ebitda Margin down 10 bps at 12.1% versus 12.2%
- Net Profit down 73.6% at Rs. 36.2 crore versus Rs. 137 crore
Sudarshan Chemical (Consolidated, YoY)
- Revenue at Rs. 2,103 crore versus Rs. 666 crore
- Ebitda down 52.0% at Rs. 37.9 crore versus Rs. 78.9 crore
- Ebitda Margin down 1,000 bps at 1.8% versus 11.8%
- Net Loss at Rs. 115 crore versus Profit of Rs. 50 lakh
Rupa & Company (Consolidated, YoY)
- Revenue down 0.9% at Rs. 314 crore versus Rs. 316 crore
- Ebitda down 32.3% at Rs. 25.8 crore versus Rs. 38 crore
- Ebitda Margin down 380 bps at 8.2% versus 12.0%
- Net Profit down 31.7% at Rs. 16.3 crore versus Rs. 23.8 crore
Time Technoplast (Consolidated, YoY)
- Revenue up 12.8% at Rs. 1,565 crore versus Rs. 1,388 crore
- Ebitda up 16.4% at Rs. 234 crore versus Rs. 201 crore
- Ebitda Margin up 40 bps at 14.9% versus 14.5%
- Net Profit up 25.4% at Rs. 126 crore versus Rs. 101 crore
Senco Gold (Consolidated, YoY)
- Revenue up 50.1% at Rs. 3,071 crore versus Rs. 2,046 crore
- Ebitda up 405.6% at Rs. 404 crore versus Rs. 79.9 crore
- Ebitda Margin up 930 bps at 13.2% versus 3.9%
- Net Profit at Rs. 264 crore versus Rs. 33.4 crore
SpiceJet (Consolidated, YoY)
- Revenue up 13.8% at Rs. 1,408 crore versus Rs. 1,237 crore
- Ebitda Loss at Rs. 128 crore versus Loss of Rs. 81 crore
- EBITDAR up 20.5% at Rs. 105 crore versus Rs. 86.8 crore
- EBITDAR Margin up 40 bps at 7.4% versus 7.0%
- Net Loss at Rs. 261 crore versus Profit of Rs. 20.4 crore
Stocks In News
- Infosys: The company expands its partnership with ExxonMobil to develop AI infrastructure and data center immersion fluids.
- CESC: Company's arm, Purvah Green Power, receives a Letter of Award from the Solar Energy Corporation of India (SECI) for wind power projects.
- NATCO Pharma: The company plans to incorporate a subsidiary in Chile with an investment of $300,000 and appoints Amit Parekh as the chief financial officer.
- REC: The company will transfer its Project SPV, Bellary Davanagere, to Power Grid for Rs 13 crore.
- PFC: The management confirms the entity will remain a government company post-REC merger and sees no material constraints in bank borrowings.
- J Kumar Infra: The company secures a Rs. 616 crore order from NBCC India for redevelopment works in New Delhi.
- eMudhra: The company enters into a pact with LankaPay to build Sri Lanka's national digital signature ecosystem.
- HCC: The company's JV secures a Rs. 578 crore railway contract from the Northeast Frontier Railway.
- GAIL India: The company appoints Deepak Gupta as the chairman and managing director with a tenure through Feb. 28, 2029.
- AU Small Finance Bank: RBI approves the re-appointment of Sanjay Agarwal as the MD and chief executive officer for a period of three years.
- Capital India: Shareholders approve the appointment of Surender Rana as the Whole-time Director and Executive VC.
- Dynamic Cables: The company launches PVC Insulated Green Building Wires.
- Shriram Properties: The company's arm resolves a commercial dispute with the West Bengal government by conveying 42.4 acres of land at Uttarpara.
- Neogen Chemicals: The company receives an additional Rs 60 crore insurance claim for the March 2025 Dahej fire, taking total receipts to Rs 140 crore.
- WeWork India Management: Bombay HC disposes of a petition against the company's IPO following an unconditional withdrawal by the petitioner.
- Hexaware Tech: The company enters into a pact with CareInsight to accelerate AI-driven healthcare transformation.
- Onix Solar: The company will raise Rs 250 crore via a rights issue of 45.8 lakh shares at Rs 546 per share, with Feb.18 as the record date.
- Rajesh Power: The company enters into a joint venture pact with VITS Total Power Solutions to form a new JV entity.
- NIIT Learning: Company's arm, MST Holding GmbH, has decided to undergo voluntary dissolution.
- Tasty Bites Eatables: The company's chairman Mr. Pradeep Poddar has resigned.
- Godawari Power: The company gets environment conservation board's nod to expand Chhattisgarh plant capacity.
Bulk And Block Deals
- Tata Capital: BNP PARIBAS FINANCIAL MARKETS bought 9.90 lk shares and CITIGROUP GLOBAL MARKETS MAURITIUS sold 9.90 lakh shares at Rs. 346.8 a piece.
- Happy Forgings Limited: KOTAK MAHINDRA MUTUAL FUND bought 24.66 lk shares at Rs. 1,145 a piece & BUSINESS EXCELLENCE TRUST III sold 26.86 lakh shares at Rs. 1,145 a piece.
- Netweb Technologies: Navin Lodha sold 3.93 lakh shares, Niraj Lodha sold 3.93 lakh shares, Sanjay Lodha sold 8.99 lakh shares and Vivek Lodha sold 3.93 lakh shares at Rs. 3,058 a piece.
Insider Trades
- Infobeans Technologies: Shashikala Bohr, Promoter Group, sold 80,000 shares.
- GRM Overseas: ATUL GARG, Promoter & Director, bought 16.5 lk shares. Mamta Garg, Promoter & Director, bought 16.5 lk shares.
- NCC: A V S R Holdings, Promoter, bought 24,630 shares.
- Gallantt Ispat: Gallantt Industry, Promoter Group, bought 38,109 shares.
Shares To Exit Anchor Lock-In
- JSW Cement: Six months lock in, 209 mn lock in shares, 15% of total outstanding shares
- Bharat Coking Coal: One month lock in, 59 mn lock in shares, 1% of total outstanding shares
Board Meeting
- TIL – Fund Raising
- Housing & Urban Development Corporation– Fund Raising
- Hubtown– Fund Raising
Bonus Issue
IRB Infrastructure Developers
List of securities shortlisted in Short - Term ASM Framework Stage: Brightcom Group, Mahindra Logistics.
List of securities to be excluded from ASM Framework: Antelopus Selan Energy, Apar Industries, Avalon Technologies.
Price Band Changes
- From 10% to 5%: SML Mahindra
- From 20% to 10%: Avanti Feeds
F&O Cues
- Nifty Feb futures is down 0.56% to 25,849.10 at a premium of 42 points.
- Nifty Options 17th Feb Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 24,500.
Securities in ban period: SAMMAANCAP, SAIL
ALSO READ: Trade Setup For Feb. 13: Nifty To Consolidate Above 25,500 On Positive Outlook As Q3 Results End
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