GIFT Nifty Opening Update
GIFT Nifty opened today at 25,988.00. It is up 90.00 points (0.35%) from yesterday’s close of 25,890.00— so the trend is positive.
Indian indices, Sensex and Nifty 50, are expected to commence Tuesday’s session positively, following robust signals from global markets. Asian equities experienced an upward movement, while Wall Street recorded substantial gains overnight, primarily fueled by a surge in technology stocks. “Indian equity markets are anticipated to exhibit a slight positive inclination today. The interim trade deal between India and the US remains a key factor influencing sentiment, regarded as a structural advantage that boosts India’s export competitiveness. FII participation has become significantly supportive this month, creating a clear sentiment tailwind, while DIIs maintain a steady presence, providing underlying stability despite neutral activity in the prior session. A relatively stable rupee contributes positively to the macroeconomic environment. Overall, the near-term backdrop remains cautiously optimistic, bolstered by trade-deal optimism, improving foreign flows, and steady domestic participation,” stated Ponmudi R.
On Monday, domestic markets finished positively following the announcement of a preliminary framework for a trade agreement with the United States. The Sensex advanced 485.35 points, or 0.58%, to end at 84,065.75, while the Nifty 50 rose 173.60 points, or 0.68%, to settle at 25,867.30. Attention will be directed towards Titan, Grasim Industries, Eicher Motors, Apollo Hospitals Enterprise, Britannia Industries, and Oil India as these companies are set to announce their Q3 results today.
Equities to monitor:
- BSE reported a remarkable 174% increase in consolidated net profit for the December quarter, climbing to Rs 602 crore from Rs 220 crore in the same period last year.
- Marico Limited has disclosed that its fully owned subsidiary, Marico South East Asia Corporation, has entered into definitive agreements to secure a 75% equity stake in the Vietnam-based beauty and personal care company Skinetiq, with a total consideration amounting to Rs 262 crore.
- Aurobindo Pharma has released its Q3 results, showing a net profit of Rs 909.8 crore, reflecting a 7.5% increase compared to Rs 846 crore from the previous year. This figure incorporates a one-time expense of Rs 65 crore due to adjustments in the labour code.
- Adani Enterprises – The Board’s Rights Issue Committee has set February 13 as the record date to identify eligible holders of partly paid-up equity shares who will be issued the second and final call notice for the payment of Rs 450 per rights equity share.
- Navin Flourine International demonstrated significant year-on-year growth in its third-quarter net profit, increasing to Rs 185.4 crore from Rs 83.6 crore in the same period last year.
- Bata India announced a 12.6% increase in profit, reaching Rs 66.1 crore, up from Rs 58.7 crore in the same period last year. Revenue demonstrated a consistent upward trend, increasing by 2.8% to Rs 944.7 crore from Rs 918.8 crore year-over-year.
- RailTel Corporation of India has obtained a Letter of Acceptance (LoA) from West Central Railway for a project worth Rs 454.94 crore.
- Garden Reach Shipbuilders & Engineers has signed a memorandum of understanding with Hindustan Shipyard to form a consortium aimed at collaboratively pursuing a significant and strategically vital national shipbuilding initiative.
- Gravita India has finalized a binding term sheet to acquire as much as a 100 percent equity stake in Rasthriya Metal Industries via a share purchase agreement valued at Rs 565 crore.