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The GIFT Nifty is trading 0.1% higher to above 25,400, indicating a positive start to the benchmark Nifty 50 index. The futures contracts for the S&P 500 and the Nasdaq 100 is up 0.2% and 0.3% respectively.
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Asia Market Update
Asian equities fell as escalating tensions in Iran weighed on sentiment, while oil rose to its highest level since August. Stocks opened lower in Japan and Australia, indicating a headwind to sentiment after two days of advances for a gauge of the region's stocks. Markets were also set to reopen in Hong Kong after the Lunar New Year holidays, while those for mainland China remained shut.
- Nikkei down 1.1%
- S&P/ ASX 200 down 0.1%
- Kospi up 1%
ALSO READ: Asian Stocks Fall, Oil Climbs With Iran In Focus: Markets Wrap
Commodities Check
Oil prices held near their highest levels in six months, as escalating tensions between the US and Iran kept markets on edge and reinforced fears of potential supply disruptions from the Middle East. West Texas Intermediate (WTI) hovered around $67 per barrel after climbing nearly 7% over the past two sessions, while Brent crude settled near $72.
Gold steadied near $5,000 an ounce, after two days of gains, as traders weighed rising geopolitical risks in the Middle East. Spot gold fell 0.1% to $4,990,09 an ounce in Singapore. Silver edged down 0.7% to $77.99.
Also Read: Oil Holds Near Six-Month High Amid Escalating US-Iran Negotiations
Wall Street Recap
The comeback in US equities from last week's artificial intelligence jitters petered out on Thursday as tensions with Iran put traders on edge. The S&P 500 index declined 0.3%, while the technology-heavy Nasdaq 100 Index slid 0.4% and Dow Jones Industrial Average dropped 0.5%.
India Market Recap
India's benchmark Nifty and Sensex indices snapped a three-day gaining streak to log their worst single day since Feb. 1. The Nifty 50 ended 400 points or 1.6% lower at 25,413.40 and the Sensex dropped over 1,200 points or 1.5% to 82,498. Mid and small cap gauges sunk too.
All 16 sectoral gauges compiled by the NSE traded lower, led by the NSE Nifty Realty Index's 2.5% fall. Media, auto, FMCG, defence closed over 2% lower. The market breadth was firmly tilted in favour of sellers. Nearly 2,900 stocks declined and about 1,200 shares advanced on BSE.
Earnings Post Market Hours
ABB India Q3 (Cons YoY)
Revenue: Up 5.7% at Rs 3,557.01 crore versus Rs 3,364.93 crore.
Ebitda: Down 16.89% at Rs 546.25 crore versus Rs 657.34 crore.
Ebitda margin: Down 417 bps at 15.35% versus 19.53%.
Net profit: Down 18.19% at Rs 432.27 crore versus Rs 528.41 crore.
CIE Automotive Q3 (Cons YoY)
Revenue: Up 13.41% at Rs 2,392.998 crore versus Rs 2,109.951 crore.
Ebitda: Up 11.79% at Rs 334.57 crore versus Rs 299.26 crore.
Ebitda margin: Down 20 bps at 13.98% versus 14.18%.
Net profit: Up 10.44% at Rs 204.305 crore versus Rs 184.982 crore.
Stocks In News
RailTel Corp: The company secures a Rs 36 crore railway signalling project from the deputy CSTE/P/CNB.
Paras Defence and Space Technologies: The company acquires a 49% stake in Himanshi Thermal Solutions from DefSpace Tech.
Jash Engineering: NCLT Indore approves the correction of the 'appointed date' regarding the merger of Shivpad Engineers with the company.
Pace Digitek: The company bags an order worth Rs 89 crore from RailTel Corp for the supply of an IP-based video surveillance system.
Federal Bank: The company is set to receive a tax refund of Rs 686.3 crore for the assessment years 2011-2014.
Bartronics India: The company clarifies that it has no collaboration with OpenAI and has made no announcements regarding a data centre in Bengaluru.
RailVikas Nigam (RVNL): The Madras HC has closed the company's interim appeal regarding a bid rejection for the Tamil Nadu corridor, directing it to first approach the appellate authority.
Texmaco Rail & Engineering: The company executes a JV shareholders' pact with RVNL to build a rolling stock powerhouse and expand its rail EPC footprint.
Blue Jet Healthcare: The company holds a ground-breaking ceremony for its new manufacturing facility in Andhra Pradesh.
ICICI Prudential Life Insurance: The company receives a tax demand of Rs 216.4 crore from the Maharashtra tax body, which also dismissed a separate tax appeal involving Rs 984 crore.
Uflex: The company acquires a 28% stake in Ampin C&I Power TwentySeven for Rs 6.67 crore.
Euro Pratik: The company launches new wall panel designs titled "Canfor 2" and "Chisel 2026."
Panorama Studios: The company executes assignment agreements for the films 'Asambhav' and 'Kaisi Ye Paheli.'
ADF Foods: The company enters into a power purchase agreement (PPA) with Fourth Partner Energy to procure 2MW of renewable power for its Gujarat unit.
Waaree Energies: The company is in ongoing discussions with the Andhra Pradesh government to set up a greenfield manufacturing unit, clarifying reports of a Rs 8,175 crore investment.
GHV Infra Projects: The company secures a Rs 123 crore work order from Enmas EPC Power Projects for the supply of rooftop solar plants.
Karur Vysya Bank: The bank announces a revision in its marginal cost of funds based lending rates (MCLR).
IIFL Finance: The board will meet on February 24 to consider raising up to Rs 10,000 crore via non-convertible debentures (NCDs).
Prestige Estates Projects: The company issues a corporate guarantee of Rs 450 crore for a loan taken by its arm, Prestige Projects Pvt Ltd.
Midwest Gold: The company approves the issuance of 10 lakh shares at Rs 2,000 per share to promoter and non-promoter categories.
5paisa Capital: The board will meet on February 24 to consider a fund-raising proposal.
Avenue Supermarts: The company opens a new store in Rangareddy, Telangana, bringing its total store count to 449.
Insolation Energy: The company receives approval to migrate from the SME platform of the BSE to the main board of the NSE.
CIE Automotive India: The company declares a final dividend of Rs 7 per share, with April 22 set as the record date.
CWD: The company announces that its manufacturing unit in Mysuru commenced full commercial operations on January 1.
Zydus Lifesciences: The US FDA completes an inspection of the company's Ahmedabad unit with "nil" observations.
Arihant Foundations & Housing: The board approves the issuance of NCDs worth Rs 180 crore on a private placement basis.
Scoda Tubes: The Gujarat energy development agency (GEDA) approves the company's application to set up a 3.9 MW solar project in Patan.
DCW: The company allots 12.8 lakh shares to the shareholders of Dhrangadhara Trading Co.
Hinduja Leyland Finance: The CCI approved the merger of the company into NDL Ventures.
IPO Offerings
- Gaudium IVF and Women Health: The IPO will open today. The total issue size is Rs 165 crore of which the fresh issue component is Rs 90 crore and OFS of up to Rs 75 crore. The price band of Rs 75 to Rs 79 per share.
ALSO READ: Gaudium IVF IPO Opens Feb. 20: Check Price Band, GMP And Other Details
Bulk & Block Deals
Esab India: SBI Mutual fund sold 4.11 lakh shares & Nippon India Mutual Fund bought 4.11 lakh shares at Rs 5,500 a piece.
Filatex Fashions: Prabhat Sethia, sold 6.59 crore shares at Rs 0.25 a piece.
Religare Enterprises: D S Trust sold 16.80 lakh shares at Rs 218 a piece.
Insider Trades
Apollo Pipes: S Gupta Holding, promoter group, bought 5.25 lakh shares.
Time Technoplast: Time Exports, promoter, bought 1.55 lakh shares.
Fushion Finance: Devesh Sachdev, promoter, sold 1.28 lakh shares.
Camlin Fine Sciences: Ashish Subhash Dandekar, promoter & director, revoked pledge of 30 lakh shares.
Gallantt Ispat: Gallantt Industry, promoter group, bought 25,000 shares.
Ashapura Minechem: Chetan Navnitlal Shah, promoter, bought 49,000 shares.
NCC: AVSR Holdings, promoter, bought 1.24 lakh shares.
Upcoming Events & Data
Board meeting (next day): JSW Infrastructure Limited – fund raising.
F&O Cues
- Nifty Feb futures is down 1.62% to 25,410.00 at a discount of 44 points.
- Nifty Options 24th Feb Expiry: Maximum Call open interest at 27,000 and Maximum Put open interest at 25,000.
- Securities in ban period: Sammaan Capital, SAIL
ALSO READ: Trade Setup For Feb. 20: Nifty Finds Support At 25,300-25,350 After Snapping Winning Streak
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