The GIFT Nifty was flat near 25,750 points at 7:00 am, indicating a steady open for the benchmark Nifty 50. S&P 500 futures were down 0.1% and conrracts for Euro Stoxx 50 were little changed.
Asia Market Update
Asian stocks rose in thin holiday trading even as uncertainty over the outlook for AI continued to weigh on global equities. The MSCI Asia Pacific Index advanced 0.6% to break three days of losses, with Japanese shares rising. Markets in China, Hong Kong and several regional exchanges remained closed for the Lunar New Year holiday.
- Nikkei up 0.9%
- S&P/ASX 200 down 0.1%
Commodities Check
Oil prices edged lower as signs of progress in nuclear negotiations between the United States and Iran reduced fears of immediate supply disruptions, easing the geopolitical risk premium that has supported crude this year. West Texas Intermediate (WTI) crude hovered above $62 a barrel after slipping 0.9%, while global benchmark Brent settled above $67.
Gold was little changed after a two-day decline, with many Asian markets offline for the Lunar New Year holiday. Spot gold was little changed at $4,880.18 an ounce in Singapore. Silver edged down 1% to $72.83 an ounce.
Also read: Oil Slips Below $63 As US-Iran Talks Show Progress, Supply Fears Still Loom
Wall Street Recap
A bout of volatile trading kicked off the holiday-shortened week as angst around the impact of artificial intelligence on a large swathe of industries continued to ripple through the stock market. The S&P 500 Index closed up 0.1%, the Nasdaq 100 was down by roughly the same margin and the Dow Jones Industrial Average was flat.
India Market Recap
Indian equity benchmarks extended gains for the second consecutive trading session on Tuesday, led by the gains in Infosys Ltd. and Larsen & Toubro Ltd. The NSE Nifty closed 0.2% or 42 points higher at 25,725 and the BSE Sensex ended 173.81 points higher at 83,450.96. The broader markets index, represented by the NSE Nifty 500 Index underperformed benchmark indices, led by the fall in EIL’s 5% fall, followed by Groww’s 4% decline.
Stocks In news
- Prabha Energy: The company approves a draft letter of offer for a rights issue of shares worth Rs 140 crore to eligible shareholders.
- International Gemmological Institute: The company’s arm, IGI FZCO, incorporates a new arm in Saudi Arabia.
- Blue Cloud Softech: The board will meet on February 20 to consider the acquisition of a 100% stake in a company via a share swap.
- Bharti Airtel: The company’s arm, Airtel Money, receives RBI approval for registration as a Type-II NBFC.
- Maithan Alloys: The company acquires strategic stakes in several public sector banks, including Rs 25 crore in Bank of Baroda (0.02%), Rs 20 crore in Bank of India (0.03%), and Rs 30 crore in Canara Bank (0.02%).
- IKIO Lighting: The company incorporates a new arm, ROYALUX GENERAL TRADING, in the UAE.
- Info Edge (India): The company will invest Rs 30 crore in its arm, Startup Investments.
- Indokem: The company enters into a strategic marketing partnership pact with RDX Digital Technologies.
- Hexaware Technologies: The company launches an open version of RapidX and enters into a pact with Replit for a rapid prototyping platform.
- Dilip Buildcon: The company is declared the L-1 bidder for a Gujarat government tender valued at Rs 668 crore.
- Dabur India: Mohit Malhotra is redesignated as the Global CEO, while Herjit S. Bhalla is appointed as the CEO of the India business.
- Infosys: The company unveils its AI First Value Framework, aiming to capture a share of an estimated $300 billion AI services opportunity.
- Engineers India: The board will meet on February 26 to consider a second interim dividend for the current financial year.
- Bosch: Karin Gilges resigns as CFO effective May 31, and Tillmann Olsen is appointed as her successor effective June 1.
- Adani Enterprises: The company’s arm completes the acquisition of a 49% stake in Sree Vishwa Varadhi for Rs 96,070.
- TVS Motor: The company completes the sale of its equity and preference shares in Roppen Transportation Services to MIH Investments One BV.
- Adani Green Energy: The company incorporates a new arm named Skyspin Energy.
- Asian Granito: NCLT approves the Scheme of Arrangement involving the company and Adicon Ceramica.
- Chalet Hotels: The Bengaluru authority issues a notice to the company for non-payment of property tax worth Rs 40 crore.
- Ventive Hospitality: The company’s arm completes the 100% stake acquisition of Finest-VN Business Park for Rs 59.8 crore.
- BHEL: The company secures a Letter of Award worth between Rs 1,200–1,500 crore from SAIL for a Captive Power Plant (CPP) package.
- Syngene International: Nippon India Mutual Fund increases its stake in the company to 5.08% after acquiring an additional 2.6% stake.
- HealthCare Global (HCG): The board approves the issuance of shares worth Rs 425 crore via a rights issue.
- Stylam Industries: A promoter sells a 10% stake in the company, bringing their total shareholding down to 13.19%.
- Jio Financial Services: The company invests Rs 1 crore in Jio Alternative Investment Manager.
- Arunis Abode: The company approves a rights issue to raise Rs 120.5 crore through the issuance of 7.08 lakh shares.
- The New India Assurance Co: The government appoints S. Sivasankar as the Executive Director of the company.
- Saatvik Green Energy: The company secures orders worth Rs 44.1 crore for the supply of solar photovoltaic modules.
- Spandana Sphoorty Financial: Avinash Yadav is appointed as the Chief Information Officer of the company.
Bulk & Block Deals
Arvind SmartSpaces
- Aura Securities Private Limited bought 18.35 lakh shares.
- Samkeet Enterprises bought 3.66 lakh shares.
- HDFC Capital Affordable Real Estate Fund-1 sold 23 lakh shares at Rs. 545 per share.
Nirlon
- Bsrep IV FPI Two Holdings (DIFC) bought 15.33 lakh shares at Rs. 519.72 per share.
- ICICI Prudential Mutual Fund sold 14.01 lakh shares at Rs. 520 per share.
Stylam Industries
- Aica Kogyo Company bought 29.01 lakh shares.
- Dipti Gupta sold 3.41 lakh shares.
- Manav Gupta sold 3.24 lakh shares.
- Pushpa Gupta sold 22.36 lakh shares at Rs. 2,250 per piece.
Easy Trip Planners
- Arthkumbh Ventures bought 3.92 crore shares at Rs. 9.41 per share.
Yatra Online
- THCL Travel Holding Cyprus sold 28.33 lakh shares at Rs. 158.05 per share
Insider trades
- Som Distilleries & Breweries: Deepak Arora, Promoter, bought 10,000 Shares
- Gallantt Ispat: Gallantt Industry Private Ltd, Promoter Group, bought 13,305 Shares
- Shakti Pumps India: Vintex Tools & Machineries Private Limited, Promoter Group, bought 17,000 Shares.
- Senores Pharmaceuticals: Espee Therapeutics, Promoter Group, created a pledge of 4 lk shares and Renson Pharmaceuticals, Promoter Group, revoked pledge of 4 lk shares
- M & B Engineering: Birva Chirag Patel, Promoter & Director, bought 7500 Shares, Chirag Hasmukhbhai Patel, Promoter & Director, bought 15000 Shares, Umaben Girishbhai Patel, Promoter Group, bought 10000 Shares, Malav Girishbhai Patel, Promoter & Director, bought 12500 Shares and Aditya Vipinbhai Patel, Promoter & Director, bought 5000 Shares.
- Afcons Infrastructure Ltd: Shapoorji Pallonji and Company, Promoter, created a pledge of 1.22 crore shares
Shares to exit anchor Lock-in (next day)
- AmagiMedia Labs: 1 month lock in, 11.1 mn lock in shares, 5% of total outstanding shares
- List of securities shortlisted in Short – Term ASM Framework Stage: Engineers India, RACL Geartech.
Price Band Changes
- From 20% to 10%: RACL Geartech
F&O Cues
- Nifty Feb futures is up 0.07% to 25,736.00 at a premium of 11 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
Currency Check
The rupee gained 2 paise to settle at 90.72 against the US dollar on Tuesday, backed by positive domestic equity markets and lower crude prices overseas.
ALSO READ: Trade Setup For Feb. 18: Nifty Finds Support At Rs 25,550-25,600 For Short-Term Stability
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