Stocks Market Today: Nifty Ends At Record High As Axis, HDFC Bank Lead

The yield on the 10-year bond closed 4 bps lower at 7.06%.

Source: Bloomberg

• The local currency strengthened 5 paise to close at 82.97 against the U.S. Dollar.

• It closed at 83.02 on Friday.

Source: Bloomberg

India's benchmark indices ended higher for sixth consecutive session, with the NSE Nifty 50 index rising to fresh life high for second day, tracking gains in shares of HDFC Bank Ltd., and Axis Bank Ltd.

The NSE Nifty ended 74.70 points or 0.34% higher at 22,196.95, and the S&P BSE Sensex settled 349.24 points or 0.48% higher at 73,057.40.

Intraday, the NSE Nifty rose 0.42% to fresh life-time high of 22,215.60. The index took 46 session to cross 22,200 mark since Dec 14, 2023, when it crossed 21,000 for first time.

The S&P BSE Sensex rose 0.58% to an intraday high of 73,130.69.

"Going ahead, the index is on the verge of ascending Triangle pattern breakout. Any sustainable move above the level of 22,150-22,200 will lead to sharp upside rally in index. In that case, the index is likely to test the level of 22,500, followed by 22,700 as per the measure rule of Ascending Triangle pattern," said SBI Securities in a report.

"Today, the benchmark indices witnessed a volatile trading session, the Nifty end 74 points higher while the Sensex closed at 349 points higher," said Shrikant Chouhan, head equity research at Kotak Securities.

Among sectors Media index outperformed rallied over 2% whereas profit booking were seen in selective IT and Auto stocks. Technically, after early morning intraday correction the Nifty took the support near 22,050/72,500 and reversed. From the days lowest point market rallied 151 points, he added.

"We are of the view that as long as index is holding higher bottom formation on intraday charts the bullish texture is likely to continue. For the trend following traders now 22,050/72,500 would act as a strong support zone. Above which the index is likely to continue upward momentum till 22,300-22,325/73,200-73,500. On the flip side below 22,050/72,500 the uptrend could be vulnerable, below the same traders may prefer to exit out from trading long position," Chouhan said.

HDFC Bank Ltd., Axis Bank Ltd., Power Grid Corp Ltd., Kotak Mahindra Bank Ltd., and ICICI Bank Ltd added positively to the NSE Nifty's run to fresh high.

Tata Consultancy Services Ltd., Infosys Ltd., Coal India Ltd., Bajaj Auto Ltd., and Hero MotoCorp Ltd limited gains to the index.

On NSE, six out of 12 sectors ended in positive, five ended in negative, and one ended flat. The Nifty Media index was the top gainer, and the Nifty IT index was the top loser among sectoral indices.

Broader markets underperformed the benchmark indices. The S&P BSE Midcap fell 0.17% and the S&P BSE Smallcap declined 0.18%.

On BSE, 11 sectors out of 20 advanced, and nine declined. The S&P BSE IT sectoral index declined the most. The S&P BSE Bankex rose the most.

Market breadth was slightly skewed in favour of buyers. Around 1,955 stocks rose, 1,877 stocks fell, and 99 stocks remained unchanged on BSE.

• Trident Ltd. appointed Samir Joshipura as CEO with effect from Tuesday.

Source: Exchange Filing

• In pact with Bennett and Coleman Co for expense management platform.

Source: Exchange Filing

• LTIMindtree Ltd has registered a branch office in Czech Republic with from Feb 16.

Source: Exchange Filing

Sun Pharmaceutical Industries Ltd. agreed to acquire a 16.33% stake in U.S.-based Surgimatix, Inc. for $3.05 million.

Source: Exchange filing

• The company will develop a gated community having a 16,000 square feet area in Bandra East.

• Project to have an estimated development value of over Rs 2,000 crore.

Source: Exchange filing

Key Developments:

• The Reserve Bank of India extended the restriction deadline on Paytm Payments Bank to March 15.

• Paytm has also shifted its nodal account to Axis Bank Ltd. With this, the Paytm QR, soundbox, and card machines will continue to work even beyond March 15, 2024.

• Jefferies has moved Paytm-operator One97 Communications Ltd. to 'not rated' from 'underperform', until the “news flow settles down”.

NDTV Profit's Vishwanath Nair and Tamanna Inamdar break down everything we know so far.

Shares of Zee Entertainment Enterprises Ltd. hit a 15% upper circuit on Tuesday after reports suggested the company is trying to review the $10 billion merger talks with Sony Group.

The lawyers are engaging in talks but the ball is in Sony’s court to go ahead with the merger, people aware of the development told NDTV Profit. The stalemate, however, continues, the people said.

Earlier, a media report said the two companies are trying to salvage the deal.

On Jan. 22, the merger between Zee Entertainment Enterprises Ltd. and Sony Group's India unit, Culver Max Entertainment, was called off, causing a significant loss in the former's stock price.

Shares of the Zee rose hit an upper circuit of 15% to Rs 205.25 apiece, the highest level since Feb 12. It came off the upper circuit to trade 10.20% higher at Rs 196.70 as of 2:22 p.m. This compares to a 0.05% advance in the NSE Nifty 50 Index.

The stock has declined 13.03% in the past 12 months. The relative strength index was at 43.81.

Out of 22 analysts tracking the company, two maintain a 'buy' rating, four recommend a 'hold,' and 16 suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 5.0%.

Delta Corp Ltd. is set to sell its entire stake in its subsidiary, Caravella Entertainment Private Ltd. for Rs 62 crore to Ability Games Ltd. and Ashtek Consultancy Pvt.

The stake sale aligns with Delta Corp's vision to optimize its portfolio and enhance shareholder value, the company said.

Source: Exchange filing

Federal Bank stock fell as much as 8.47% during the day to Rs 149.15 apiece on the NSE. It was trading 5.37% lower at Rs 154.2 apiece, compared to a 0.16% advance in the benchmark Nifty 50 as of 1:40 a.m.

It has risen 22% in the last 12 months. The total traded volume so far in the day stood at 2.5 times its 30-day average. The relative strength index was at 54.4.

Shares of Federal Bank fell after a top-level management change at Kotak Mahindra Bank.

On Monday, Kotak Mahindra Bank re-designated KVS Manian as the Joint managing director. NDTV Profit had reported that KVS Manian was shortlisted as Federal Bank's chief executive officer candidate.

The private lender had re-designated KVS Manian as the Joint MD with effect from March 1, 2024.

33 out of the 41 analysts tracking xxx have a 'buy' rating on the stock, as many as seven recommend a 'hold' and 1 suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 15.9%.

Zaggle Prepaid Ocean Services Ltd. entered into an agreement with Easy Trip Planners Ltd. to offer integrated travel and expense management solutions to corporate clients.

The time period by which the contract is to be executed is three year, according to an exchange filing.

Source: Exchange Filing

India's benchmark equity indices rebounded by midday trade after opening lower on Tuesday, led by gains in media and realty stocks.

The NSE Nifty 50 was above the 22,100 mark, whereas the S&P BSE Sensex was hovering above 72,900.

As of 12:30 p.m., Sensex traded 230.57 points, or 0.32%, higher at 72,938.73, while Nifty gained 34.05 points, or 0.15%, at 22,156.30.

For the day, Nifty is expected to maintain a positive bias, providing an opportunity for fresh long positions around the 22,000 level, and the short-term outlook on the index remains optimistic, according to Shrey Jain, founder and chief executive officer of SAS Online.

"However, further consolidation or a minor dip in the upcoming sessions cannot be ruled out. Today, the immediate support level for Nifty is positioned at 21,950 levels," Jain said.

Bank Nifty has sustained its bullish momentum and closed near a one-month high, he said. "According to option data analysis, the 46,000 put strike holds significant open interest, likely serving as immediate support. Conversely, the 47,000 level is expected to present an immediate hurdle."

Chinese and Hong Kong equities slipped as the nation’s mortgage reference rate failed to dispel the gloom. Japanese stocks reversed early gains.

European futures were lower, and contracts for the Nasdaq 100 fell after U.S. markets were shut Monday for a holiday. Meanwhile, the dollar tracked a rise in U.S. yields.

The Nikkei 225 was 0.097% lower at 38,433.16, while the KOSPI was 1.01% lower at 2,653.06 as of 11:49 a.m.

Shares of HDFC Bank Ltd., ICICI Bank Ltd., LTIMindtree Ltd. and UPL Ltd. were positively contributing to the Nifty.

While, Eicher Motors Ltd., Infosys Ltd., Reliance Industries Ltd., and Tata Consultancy Services Ltd. weighed on the index.

The broader markets underperformed the larger peers, with the S&P BSE MidCap falling 0.25% and the S&P BSE SmallCap declining 0.10% by midday on Tuesday.

Eight of the 20 sectors compiled by BSE Ltd. advanced, with S&P BSE Metal declining the most.

The market breadth was skewed in favour of the buyers. About 1,969 stocks rose, 1,699 declined, while 128 remained unchanged on the BSE.

Indian Oil Corp. has 10.8 lakh shares or 0.01% equity change hands in a large trade on Tuesday.

The shares changed hands at Rs 185.85 apiece, and the buyers and sellers were not known immediately.

Source: Bloomberg

Easy Trip Planners, along with the Jeewani Group has partnered with the Radisson Hotel Group to construct a 150-room hotel in Ayodhya city.

The Radisson Blu Hotel is expected to open in 2027 and is strategically located within two kilometers of Shri Ram Mandir, the company said in an exchange filing.

Source: Exchange filing

NBCC received an order worth Rs 560 crore to construct a permanent campus of the National Institute of Technology, Sikkim.

Source: Exchange filing

Waaree Renewable Ltd. received a Letter of Award for a 980 megawatt peak solar power project worth Rs 990.6 crore.

The project is scheduled to be completed within 12 months, and the order from the domestic customer will be executed on an engineering, procurement and construction basis, the company said in its exchange filing.

Source: Exchange filing

Shares of Allcargo Logistics Ltd. jumped 13% on Tuesday after the positive comments by the management on margin expansion in FY25.

The company's group chief strategist, Ravi Jakhar said, they are expecting gross profit to go up on account of volume increase and improved utilisation, subsequently resulting in expansion of profit margin as well, according to a transcript of the conference call released on exchanges on Monday.

The scrip rose as much as 13.06% to Rs 84.80 apiece, the highest level since Jan 9. It was trading 12.67% higher at Rs 84.35 apiece, as of 11:11 a.m. This compares to a 0.1% decline in the NSE Nifty 50 Index.

It has risen 51.91% in 12 months. Total traded volume so far in the day stood at 12 times its 30-day average. The relative strength index was at 61.84.

Out of five analysts tracking the company, three maintain a 'buy' rating, one recommend a 'hold,' and one suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 4.1%.

• Whirlpool Of India at 48.91 times its 30-day average

• Allcargo Logistics at 10.25 times its 30-day average

• Deepak Fertilisers & Petrochem at 9.62 times its 30-day average

• E.I.D.-Parry at 2.89 times its 30-day average

• Aarti Drugs at 2.87 times its 30-day average

Shares of Ramkrishna Forgings Ltd. rose more than 5% on Tuesday after it secured a contract worth $220 million for supply in the light vehicle segment across North America.

The contract spans over a decade and marks the company's foray into a new vertical within the forging sector, an exchange filing said.

"With this venture, the company is poised to further expand its offering in key markets and contribute significantly to the automotive industry’s supply chain," the company said.

Shares of Ramkrishna Forgings rose as much as 5.46%, before paring gains to trade 3.08% higher at 11:09 a.m., compared to a 0.11% decline in the benchmark Nifty 50.

The stock has risen 23.83% in the last 12 months. The relative strength index was at 61.2.

Of the 50 analysts tracking the company, 28 have a 'buy' rating and 22 recommend a 'hold', according to Bloomberg data. The average 12-month analysts' price target implies a potential upside of 10.4%.

DroneAcharya Aerial Innovations Ltd. signed a term sheet to acquire a 76% stake in Aerophile Academy Pvt., a DGCA-certified drone pilot training center in South India.

The move will not only enhance the company's geographical reach but also strengthen its capabilities in delivering top-notch drone pilot training solutions, the company said in an exchange filing on Tuesday.

Source: Exchange Filing

Shares of Paytm operator, One 97 Communications Ltd. hit a 5% upper circuit for the third consecutive day on Tuesday.

On Monday, Jefferies moved Paytm-operator One97 Communications Ltd. to 'not rated' from 'underperform', until the “news flow settles down”. As the company is hit by regulatory action by the Reserve Bank of India, the brokerage decided not to rate the stock, it said in a Feb. 19 note.

Read more here.

Paytm stock rose as much as 5% during the day to hit the upper circuit of Rs 376.25 apiece on the NSE. This compares to a 0.08% decline in the benchmark Nifty 50 as of 10:44 a.m.

It has fallen 40.33 % in the last 12 months. The total traded volume so far in the day stood at 0.2 times its 30-day average. The relative strength index was at 29.8.

Six out of the 14 analysts tracking Paytm have a 'buy' rating on the stock, as many as three recommend a 'hold' and five suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 40.3%.

Shares of NTPC rose as much as 1.8% during the day on NSE to hit a 52-week high on Tuesday. It was trading 1.37% higher at Rs 343.4 apiece, compared to a 0.41% advance in the benchmark Nifty 50 as of 10:33 a.m.

It has risen 104.5% in the last 12 months. The relative strength index was at 65.6.

20 out of the 23 analysts tracking NTPC have a 'buy' rating on the stock, and three suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 4%.

HDFC Bank Ltd.'s management clearly guided that earnings per share growth will be prioritised over loan growth, according to Bernstein Research.

"The fresh deposits will be first utilised to replace the maturing high cost borrowings of eHDFCL, with the balance then used to fund incremental growth opportunities," the research firm said in a Feb. 19 note.

"While the resultant loan growth can hence be 'a tad lower', the replacement of high-cost liabilities will boost margins/profitability," the note said.

Read more here.

Oil and Natural Gas Corp of India jumped to over nine-year high on Tuesday after Imperial Energy Ltd, its Cyprus-Unit, approved to merge its businesses.

Imperial Energy Ltd, subsidiary of ONGC Videsh Ltd., has step-down total seven subsidiary businesses in Cyprus and Russia. Out of the seven, five will be merged, ONGC said in an exchange filing on Monday.

The five businesses are Imperial Energy Cyprus Ltd, Imperial Energy Nord Ltd, Imperal Frac Servics Cyprus Ltd., Redcliffe Holdings Ltd., Biancus Holding Ltd., and San Agio Investment Ltd. with IEL.

The merger is due for approval from the competent court of Cyprus, the exchange filing said.

The scrip rose as much as 2.37% to Rs 281.15 apiece, the highest level since Oct 10, 2014. It was trading 0.98% higher at Rs 277.35 apiece, as of 09:55 a.m. This compares to a 0.28% decline in the NSE Nifty 50 Index.

It has declined 79.14% in 12 months. Total traded volume so far in the day stood at 1.6 times its 30-day average. The relative strength index was at 69.23.

Out of 28 analysts tracking the company, 16 maintain a 'buy' rating, six recommend a 'hold,' and six suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 5.3.%.

Shares of Deepak Fertilisers & Petrochemicals rose over 10% after it entered into a long-term supply agreement for Liquefied Natural Gas with Equinor ASA, Norway.

With the partnership, Deepak Fertilisers will strengthen its value chain with an attractive long-term LNG contract to solidify its value chain, the company said in an exchange filing on Monday.

"This end-to-end tie-up shall establish a strong long-term foundation for all of DFPCL's product segments," it said.

The agreement is for annual supplies of up to 0.65 million tonnes over a period of 15 years, beginning 2026, it said. "The tie-up provides room for trading some LNG parcels in the growing LNG demands in India as well as accommodating DFPCL’s growing captive needs."

Deepak Fertilisers stock rose as much as 10.57% during the day to Rs 546.7 apiece on the NSE. It was trading 7.07% higher at Rs 529.4 apiece, compared to a 0.24% decline in the benchmark Nifty 50 as of 10:07a.m.

It has declined 17.38% in the last 12 months. The total traded volume so far in the day stood at 43 times its 30-day average. The relative strength index was at 39.5.

Two analysts tracking Deepak Fertilisers have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 29.3%.

Shares of Vibhor Steel Tubes Ltd. listed at Rs 425 apiece on the NSE, a premium of 181.46% over their IPO price of Rs 151 apiece.

On the Bombay Stock Exchange, the stock debuted at Rs 421, a 178.81% premium.

This is the fourth best listing on Indian bourses ever, after Sigachi Industries (listed in November 2021), Paras Defense and Space Technologies (October 2021) and Religare Enterprises (November 2007).

Read more here.

• Tech Mahindra Ltd. is set to acquire a 100% stake in Orchid Cybertech Services for AUD 5 million

• Orchid Cybertech Services provides Customer experience related services to TPG Telecom

Source: Exchange filing

The broader markets outperformed larger peers; the S&P BSE MidCap Index was down 0.02%, whereas S&P BSE SmallCap Index was 0.43% higher.

13 out of 20 sectors compiled by BSE declined, with S&P BSE Auto declining the most. S&P BSE Realty rose the most.

The market breadth was skewed in the favour of the buyers. About 1,918 stocks rose, 1,231 declined, while 101 remained unchanged on the BSE.

• Whirlpool India has at least 2 crore shares change hands in nine large trades

• At least 2 crore shares or 16% stake changed hands in 9 large trades

• Buyers and sellers not known immediately

Source: Bloomberg

Whirlpool stock fell as much as 4.75% during the day to Rs 1,268 apiece on the NSE. It was trading 2.97% lower at Rs 1,291.7 apiece, compared to a 0.18% decline in the benchmark Nifty 50 as of 09:32 a.m.

It has declined 0.36% in the last 12 months. The total traded volume so far in the day stood at 12,198 times its 30-day average. The relative strength index was at 31.4.

Five out of the 13 analysts tracking Whirlpool have a 'buy' rating on the stock, as many four recommend a 'hold' and four suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 3%.

Zee Entertainment Enterprises Ltd's share rose over 7% on Tuesday after reports suggested the company is reaching out to the Sony Group to look for re-engaging in merger talks.

No specific timeline has been given on the decision of re-engagement nor was any agreement taken place as both sides failed to agree on an extension of merger timelines, sources in the know told NDTV Profit.

The scrip rose as much as 7.56% to Rs 192.00 apiece, the highest level since Feb 15. It pared gains to trade 4.73% higher at Rs 186.95 apiece, as of 09:27 a.m. This compares to a 0.17% decline in the NSE Nifty 50 Index.

It has declined 13.03% in 12 months. The relative strength index was at 43.81.

Out of 22 analysts tracking the company, two maintain a 'buy' rating, four recommend a 'hold,' and 16 suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 5.0%.

India's benchmark stock indices opened flat on Tuesday, snapping a five day positive opening streak for Nifty. Zee Entertainment Enterprises Ltd. rose over 7%, while Whirlpool of India Ltd. fell.

At pre-open, the S&P BSE Sensex Index was up 19.71 points, or 0.03%, at 72,727.87 while the NSE Nifty 50 was down 23.05 points or 0.10% lower at 22,099.2.

With Nifty having managed to cross its previous swing high above 22,125 and having formed a higher top higher bottom pattern since the past 4 sessions, the key support zone for the Indices is placed at the 22,100-22,125 zone while resistance at higher levels around 22,250-22,270 zone, Sudeep Shah, DVP and Head of Technical and Derivative Research Desk, SBI Securities said.

"Below 22,100, Index could witness correction upto 21,980-21,910 zone, Shah said.

Asian stocks were trading mixed on Tuesday as investors await fresh catalysts after U.S. markets were closed for a holiday on Monday.

The Japan stocks advanced, while Australian stocks fell after the BHP Group pulled the markets down after the miner missed profit estimates.

The Euro Stoxx 50 trades near a two-decade high.

On Friday, The S&P 500 index and Nasdaq 100 fell by 0.48% and 0.82%, respectively. The Dow Jones Industrial Average declined by 0.37%. The yield on the 10-year U.S. bond closed at 4.31%, and Bitcoin was above $51,800.

Brent crude was above $83 a barrel, whereas WTI crude was above $79 a barrel.

At pre-open, the S&P BSE Sensex Index was up 19.71 points, or 0.03%, at 72,727.87 while the NSE Nifty 50 was down 23.05 points or 0.10% lower at 22,099.2.

The yield on the 10-year bond opened flat at 7.10%.

Source: Bloomberg

The local currency opened flat at 83.01 against the U.S. Dollar.

Source: Bloomberg

• The brokerage reiterates 'Buy' on Coal India with a target price of Rs 520 per share.

• Management slightly lowered its FY25 volume guidance to 838 million tonnes.

• E-auction premiums declined in Jan-Feb’24 to 35-50% vs 117% in 3Q FY24

• Slightly trimmed e-auction premium for FY26E .

• Expects employee costs to slightly decline going forward.

• Nuvama downgrades NBCC to 'Hold' From 'Buy' rating

• Target price of Rs 143 per share.

• Management guided for Rs 10,500–11,000 crore revenues for FY24.

• Believes 115% run-up in stock leaves little room for upside.

• Expects it to rework on its land bank monetisation plans.

• Revised P/E multiple to 40 time factoring in improved order intake.

• Nuvama maintains 'Hold' on Schaeffler India; raises target price to Rs 3,283 per share.

• Mixed numbers: domestic business aids topline; adverse sales mix hurts margin.

• Momentum from automotive and industrial sectors to keep revenue growth on track.

• New product opportunities: strong growth driver in medium-to-long term.

• U.S. Dollar Index at 104.38

• U.S. 10-year bond yield at 4.30%

• Brent crude down 0.16% at $83.43 per barrel

• Nymex crude down 0.33% at $79.45 per barrel

• GIFT Nifty down 42 points or 0.19% at 22,138 as of 8:15 a.m.

• Bitcoin was down 0.63% at $51,578.81

• Nifty February futures up by 0.28% to 22,171.40 at a premium of 49.15 points.

• Nifty February futures open interest up by 1.25%.

• Nifty Bank February futures up by 0.32% to 46,638.9 a premium of 103 4 points.

• Nifty Bank February futures open interest down by 3.9%.

• Nifty Options Feb 22 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 22,000.

• Bank Nifty Options Feb 21 Expiry: Maximum Call Open Interest at 49,000 and Maximum Put open interest at 44,000.

• Securities in ban period: Aditya Birla Fashion, Ashok Leyland, Bandhan Bank, Biocon, Canara Bank, Hindustan Copper, India Cement, Indus Tower, National Aluminium, Sail, Zee Entertainment Enterprise.

• Price band revised from 10% to 5%: Azad Engineering, HPL Electric & Power, Inox Wind, MIC Electronics.

• Price band revised from 20% to 10%: KIOCL, Mangalore Refinery and Petrochemicals.

• Ex/record Dividend: Centum Electronics, TCI Express, Hindustan Aeronautics, MSTC, HIKAL, Coal India, Amrutanjan Health Care, Steel Authority of India, Precision Wires India, Apollo Hospitals, Aurobindo Pharma, Power Finance Corp, Refex industries.

• Ex/record Bonus issue: Choice International.

• Moved out of short-term ASM framework: Automotive Stampings and Assemblies, Gensol Engineering, Global Surfaces, Ramky Infrastructure, Triveni Turbine, Yes Bank.

• Jamna Auto Industries: Promoter Map Auto revoked a pledge of 1.25 lakh shares on Feb. 16.

• Paisalo Digital: Promoter Equilibrated Venture Cflow revoked a pledge of 1.32 crore shares on Feb. 16.

• Sasken Technologies: Promoter group Bharat Pravinchandra Mehta sold 2,500 shares on Feb 16.

• Bajaj Finserv: Promoter Bachhraj and Company bought 14.26 lakh  shares, Deepa Bajaj sold 1.24 lakh shares, Rajivnayan Bajaj sold 3.2 lakh shares and Rishab Family Trust Rajivnayan Bajaj sold 9.82 lakh shares on Feb. 14.

• Sula Vineyards: Verlinvest Asia Pte sold 70.42 lakh shares (8.34%) at Rs 576.78 apiece, Mousserena LP sold 29 lakh shares (3.43%) at Rs 575.47 apiece, while Morgan Stanley Asia Singapore PTE bought 8.65 lakh shares (1.02%) at Rs 575 apiece.

• Shilpa Medicare: TA FII Investors sold 13.45 lakh shares (1.54%) at Rs 407.05 apiece.

• Hindustan Foods: Sixth Sense India Opportunities 11 sold 6.06 lakh shares (0.53%) at Rs 528 apiece.

• Coffee Day Enterprise: Malavika Siddhartha Hegde sold 40 lakh shares (1.89%) at Rs 64.91 apiece.

• Minda Corp: Bela Agarwal sold 1.08 crore shares (4.53%), while Motilal Oswal Mutual Fund bought 43.7 lakh shares (1.82%), Kotak Mahindra Mutual Fund bought 42.93 lakh shares (1.79%). Mahindra Manulife Mutual Fund bought 7.4 lakh shares (0.3%) at Rs 403 apiece.

• Vibhor Steel Tubes: The company's shares will debut on the stock exchanges on Wednesday at an issue price of Rs 151 apiece. The Rs 72.17 crore was subscribed 298.86 times on its third and final day. The public issue was subscribed to 298.86 times on day 3. The bids were led by non-institutional investors (721.34 times), retail investors (188.17 times), and institutional investors (178.73 times) and portion reserved for employees (201.48 times).

• Whirlpool of India: Promoter Whirlpool Mauritius will divest a 24% stake at a floor price of Rs 1,230 per share, which indicates a discount of 7.6% to the current market price.

• Kotak Mahindra Bank: The company appointed Devang Gheewalla as the Chief Financial Officer and Key Managerial Personnel of the Bank and Milind Nagnur as the Chief Operating Officer of the Bank.

• Torrent Power: The company will develop four projects of pumped storage hydro, green hydrogen, and solar energy generation with an investment of Rs 25,000 crore in Uttar Pradesh.

• Godrej Consumer: The company and its arm will divest the entire stake in its Mauritius-based unit, Godrej East Africa Holdings, to HKG Africa Weave for a consideration of Rs 30 crore.

• CIE Automotive: The company reported a 0.29% decline in revenue at Rs 2,240.39 crore year-on-year in the third quarter, while net profit was down 9.12% at Rs 177.05 crore. The board approved a final dividend of Rs 5 per share.

• ONGC: The shareholders of Cyprus-based step-down unit IEL have approved the merger of five arms with itself. The unit will have three step-down units in Cyprus post-merger.

• Deepak Fertilisers & Petrochemicals: The company entered into a long-term supply agreement for liquefied natural gas with Equinor ASA, Norway.

• NBCC: The company received three work orders worth Rs 369.05 crore.

• LTIMindtree: The company announced the launch of Navisource.AI, a GenAI powered autonomous sourcing platform. The platform aims to reduce overall procurement costs by 10–15%.

• Paisalo Digital: The board will consider fundraising on Feb. 22.

• Piramal Enterprise: The company will consider fund raising on Feb 22.

• Ugro Capital: The company appointed Sharad Agarwal as the Chief Operating Officer after Om Prakash Sharma resigned.

• Marico: The FMCG giant introduced four gourmet style flavours in its flavoured oats range under its flagship brand, Saffola.

• Rhi Magnestia India: Vijaya Gupta resigned from the position of Chief Financial Officer.

• Tasty Bite Eatables: Milin Bande has resigned from the position of Chief Financial Officer.

• Astra Microwave Products: The company incorporated a wholly owned subsidiary, Astra Space Technologies, for Rs 10 lakh.

• Hikal: The company appointed Dharmesh Panchal as the chief technology officer.

• Orient Green Power: Edelweiss (plaintiff) has withdrawn from the suit filed against promoter SVL and the company before the High Court of Bombay.

• ABB India, Elantas Beck India: The two companies will announce their quarterly results on Tuesday.

Asian stocks were trading mixed on Tuesday as investors await fresh catalysts amid a closed U.S. markets for Presidents' Day on Monday.

The Japan stocks advanced, while Australian stocks fell after the BHP Group pulled the markets down after the miner missed profit estimates.  

The Euro Stoxx 50 trades near a two-decade high.

On Friday, The S&P 500 index and Nasdaq 100 fell by 0.48% and 0.82%, respectively. The Dow Jones Industrial Average declined by 0.37%. The yield on the 10-year U.S. bond closed at 4.31%, and Bitcoin was above $51,800.

Brent crude was above $83 a barrel, whereas WTI crude was above $79 a barrel.

The GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India, was down 43 points or 0.19% at 22,137 as of 8:25 a.m.

India's benchmark stock indices ended higher for the fifth straight session on Monday, with the NSE Nifty 50 hitting a fresh all-time high during the day.

Nifty Pharma and Nifty FMCG gained, while Nifty Oil and Gas and Nifty PSU Bank stocks were under pressure.

The S&P BSE Sensex closed 281.52 points, or 0.39%, higher at 72,708.16, while the NSE Nifty 50 gained 81.55 points, or 0.37%, to end at 22,122.25.

The currency and bond markets were closed.

Overseas investors in Indian equities turned net sellers. Foreign portfolio investors sold stocks worth Rs 754.6 crore, while domestic institutional investors stayed net buyers for the sixth straight session and mopped up stocks worth Rs 452.7 crore, the NSE data showed.