Stocks in the Asia-Pacific region opened higher on Monday, shrugging off concerns about tariffs on Canada, Mexico and China, while European leaders pledged support for Ukraine.

Japan’s Nikkei rose 0.71%, or 276 points to 37,423, while Australia’s S&P ASX 200 was up 0.17% at 8,186 as of 6:28 a.m. Future contracts in China and Hong Kong hinted at a negative start.

Stocks in China will face a renewed test as top officials will meet to discuss economic priorities, with hopes running high for further stimulus. The yuan has gained by 0.6% this year, while a gauge of the nation’s equities has jumped more than 12%, according to Bloomberg.

Stocks on Wall Street ended the volatile session higher while treasuries extended February’s rally. The S&P 500 rose 1.59%, while the Nasdaq 100 advanced 1.63%. The Dow Jones Industrial Average rose by 1.39% on Friday.

The dollar index — which tracks the greenback’s performance against a basket of 10 leading global currencies — was 0.3% down at 107.28. The benchmark yield fell two basis points to 4.24%.

The benchmark indices ended the week and the month with heavy losses on Friday, with the NSE Nifty 50 falling to the lowest level since June 5.

The NSE Nifty 50 ended 420.35 points or 1.86% lower at 22,124.70, while the BSE Sensex closed 1,414.33 points or 1.9% down at 73,198.10. During the day, the Nifty fell as much as 1.95% to 22,104.85, while the Sensex dropped 1.97% to 73,141.27.

Foreign portfolio investors continued to remain net sellers of Indian equities for the seventh straight session on Friday as they net offloaded stocks worth Rs 11,639 crore.

This is the highest ever sell-off by FPIs since Nov. 28, 2024. This came on the day when volatility was expected in certain stocks, due to the MSCI rejig coming into effect from the close of market hours.

Domestic institutional investors stayed net buyers for the 17th straight session as they mopped up equities worth Rs 12,308.6 crore, according to provisional data from the National Stock Exchange.

Earnings Post Market Hours

International Gemmological Institute (India) Q4 CY24 Highlights (Consolidated, YoY)

  • Revenue up 6% to Rs 265 crore versus Rs 250 crore.

  • Ebitda up 18.6% to Rs 152 crore versus Rs 128 crore.

  • Margin at 57.5% versus 51.4%.

  • Net profit up 45% to Rs 114 crore versus Rs 78.4 crore. 

Stocks To Watch 

  • Auto Stocks: Like Hyundai, SML, Eicher, Royal Enfield, Maruti Suzuki and Tata Motors will be in focus as they have released their sales data.

  • IIFL Finance: The company has approved the issuance of secured, listed, rated, redeemable, non-convertible debentures through a private placement. The total issue size is Rs 150 crore, consisting of a base issue of Rs 75 crore and an additional greenshoe option of Rs 75 crore, amounting to a total of 15,000 NCDs.

  • Piramal Enterprises: The company received GST demand of Rs 1,502 crore, inclusive of interest and penalty, from the Maharashtra tax authority.

  • Aditya Birla Real Estate: Birla Estates, a wholly owned subsidiary, announced the launch of Birla Trimaya Phase III – The Park in North Bengaluru. Within 24 hours of the launch, the project recorded a booking value of approximately Rs 500 crore with over 300 units sold. This brings the cumulative booking value across all launched phases to around Rs 1,500 crore.

  • Indian Overseas Bank: IOB has received a GST demand of Rs 699.5 crore, which includes interest and a penalty of Rs 35.3 crore, from the Chennai Large Taxpayers Unit.

  • Dalmia Bharat: The boards of directors of Dalmia Cement (Bharat) Ltd. and Dalmia Bharat Green Vision Ltd. have approved plans to expand their clinker and cement production capacities.

  • Ujjivan Small Finance Bank: The bank’s authorised committee has approved the sale of non-performing assets and written off loans worth Rs 364.5 crore to an asset reconstruction company.

  • RailTel Corp: The company has received a work order worth Rs 26.4 crore from the Cuttack Development Authority. It has also secured another work order valued at Rs 37.2 crore from the Madhya Pradesh State Electronics Development Corp.

  • NCC: The company has secured an order worth Rs 218.8 crore from a state government for the transportation division. This order does not include any internal contracts.

  • Aurobindo Pharma: The company has approved the acquisition of the remaining 80% equity in Tergene Biotech Ltd., a joint venture and step-down subsidiary. This purchase will result in Tergene becoming a direct subsidiary of the company.

  • MSTC: The company has received an income tax demand of Rs 105 crore, including interest, for the assessment year 2020.

  • Vishnu Prakash R Punglia: The company’s joint venture, VPRPL-SBEL JV, has secured a Rs 269.7-crore contract for the Ajmer-Chanderiya doubling project. The project involves extensive civil and infrastructure work, including earthwork, bridge construction, track laying, and building works along the Northwestern Railway line.

  • UltraTech Cement: The company aims for an internal rate of return of approximately 25% and a return on capital employed exceeding 20% in its cables and wires business.

  • Mastek: The company received a SEBI warning for not identifying a transaction as unpublished price sensitive information.

  • Astrazeneca Pharma: The company received CDSCO approval for distribution of Durvalumab solution.

  • Jubilant Ingrevia: The company expects Rs 12,000 crore revenue in fiscal 2030 with Rs 2,000 crore Ebitda, and 17–20% return on capital employed in 2030, as per their investor presentation.

  • Tata Communications: The company completed divestment of unit Tata Communications Payment Solutions to Transaction Solutions International.

  • Medplus Health: The company’s subsidiary Optival Health Solutions received a suspension order of a drug licence for a store in Telangana.

  • Shree Cement: The company gets two GST orders worth Rs 46.5 lakh, including interest and penalty.

  • SBI Life Insurance Co: The insurer declared an interim dividend of Rs 2.7 per equity share for fiscal 2025.

  • MOIL India: The company has made changes in the prices in ore and manganese content. It has also increased prices of all chemical grades. The company has also announced its monthly business update.

  • PAYTM: The company receives show cause notice under FEMA with regard to acquisitions Little Internet Private Limited and Nearbuy India Private Limited. The company got a show cause notice under FEMA alleging contraventions of Rs 611.17 crore investment transactions.

  • BOMBAY DYEING: The company gets GST demand of Rs 440.21 crore including interest and penalty. The company will file an appeal with appellate authority against GST order.

  • COAL INDIA: Company disclosed provisional production and offtake numbers. February production numbers indicate a degrowth of 0.8% year on year, with offtake degrowing 4.8% year-on-year.

  • NMDC: Company disclosed its monthly business update along with provisional production and sale numbers. Production grew 17.9% year on year to 4.62MT versus 3.92MT. Sales degrew 0.25% to 3.98MT versus 3.99MT year-on-year.

Bulk Deals

  • Coforge: Motilal Oswal Mutual Fund bought 3.39 lakh shares (0.5% equity) at Rs 7,367.94 apiece.

  • Home First Fin: Ishares Core MSCI Emerging Markets ETF bought 4.92 lakh shares (0.54% equity) at Rs 1,007.25 per share.

  • IndusInd Bank: Integrated Core Strategies (Asia) Pte. Ltd. sold 50.86 lakh shares (0.65% equity) at Rs 986.74 apiece.

  • KEI Industries: Motilal Oswal Mutual Fund bought 11.82 lakh shares (1.23% equity) at Rs 3,105.49 apiece.

  • Mufin Green Finance: Expertpro Realty sold 9.64 lakh shares (0.59% equity) at Rs 80.45 apiece.

  • Teamlease Services: Nippon India Mutual Fund sold 2.72 lakh shares (1.52% equity) at Rs 1,865 apiece, while Goldman Sachs India Equity Portfolio bought 1.67 lakh shares (1% equity) at Rs 1,865 apiece.

Block Deals

ITC: SEI Trust Company bought 26.55 lakh shares (0.02% equity) at Rs 401.6 apiece, while Wells Fargo Emerging Markets Equity sold 26.55 lakh shares (0.02% equity) at Rs 401.6 apiece.

Who’s Meeting Whom

  • Hitachi Energy India to meet Franklin Templeton Mutual Fund, 360 One Asset Management, Aditya Birla Sun Life Insurance, and other investors on March 5.

  • Ventive Hospitality will meet a group of investors between March 3-4 and will participate in the UBS India investor conference on March 6.

  • Akums Drugs and Pharmaceuticals to participate in the conference hosted by Investec Capital Services (India) on March 5.

  • SBI will interact with a group of analysts and investors on March 5.

  • Innova Captab to meet a group of analysts and investors on March 6.

  • ONGC to meet a group of analysts and investors on March 5-14.

  • Epigral to meet Kotak Institutional Securities on March 5.

  • Global Health to meet Morgan Stanley and Mirae Asset on March 7 and March 11, respectively.

  • Aptus Value Housing Finance to meet Alquity on March 3.

  • ACME Solar Holdings to meet a group of analysts/investors between March 5-6.

  • Deep Industries to meet with a group of analysts/investors between March 5.

  • Concord Biotech to meet a group of analysts/investors on March 6.

  • Sobha to meet a group of analysts/investors on March 5.

  • Home First Finance to meet a group of investors between March 5-7.

  • Info Edge (India) to meet Wellington Management on March 3.

  • Sheela Foam to meet a group of investors between March 4-5.

  • ICRA to meet Banyan Tree Advisors on March 3.

  • Jyothy Labs to meet ICICI Prudential Mutual Fund on March 3 and Nippon India Mutual Fund on March 4.

  • Sterling and Wilson Renewable Energy to meet a group of investors on March 4.

  • Zaggle prepaid Ocean Services to meet a group of investors and analysts on March 4.

  • Time Technoplast to participate in a meeting with a group of investors and analysts on March 4 at a conference hosted by Investec.

  • Kirloskar Oil Engines to meet a group of investors and analysts between March 5-6.

  • Aarti Drugs to meet a group of investors on March 12 at a conference hosted by Systematix.

  • Aditya Birla Sun Life AMC to meet a group of investors and analysts on March 25 and March 27.

  • Windlas Biotech to meet a group of investors and analysts on March 3.

  • Angel One to meet a group of investors and analysts between March 5-6.

  • Windlas Biotech to meet a group of investors and analysts on March 3.

  • Brigade Enterprises to meet TT International on March 4.

  • Mphasis to participate in the UBS Emerging India Mid-caps Corporate Day to meet a group of investors and analysts between March 6-7.

  • Maruti Suzuki to meet a group of investors on March 7.

  • Inox India to meet HSBC Hong Kong on March 5.

  • Tata Steel to meet an investor in London on March 5.

  • Narayana Hrudayalaya to meet a group of investors and analysts between March 4-7.

  • Asian Energy Service to meet a group of investors and analysts on March 5.

  • Mrs. Bectors Food Specialities to meet institutional investor/analyst on March 6.

  • Kilburn Engineering is to meet three domestic institutional investors on March 3.

  • IEX is to meet with a group of analysts and investors between March 3-7.

  • Torrent Power to meet Sophus Capital on March 5.

  • Varroc Engineering to participate in Investec’s promoters conference on March 3.

  • Shyam Metalics to meet a group of investors and fund managers between March 5-7.

  • V-Mart Retail to participate in UBS investors conference on March 7.

  • Sobha to meet a group of investors and analysts on March 5.

  • KPIT Technologies to meet a group of investors and analysts between March 3-4.

  • Krsnaa Diagnostics to meet Pkeday Advisors on March 3.

  • Garware Technical Fibres to participate in Investec’s promoters conference on March 5.

Insider Trades

  • Nirlon: Promoter Shital Trading & Interiors disposed of 5,000 shares on Feb. 28.

  • Thirumalai Chemicals: Promoter R Parthasarathy acquired 11,280 shares on Feb. 28.

  • Shakti Pumps (India): Promoter Shakti Sons Trust acquired 10,000 shares on Feb. 28.

Trading Tweaks

  • Price band change from 10% to 5%: Optiemus Infracom.

  • Price band change from 5% to 20%: Jubilant Agri and Consumer Products.

  • Stocks moving into ASM framework: Refex Industries, Sagility India and Eraaya Lifespace.

  • Stocks moving out of ASM framework: Supriya Lifescience.

F&O Cues

  • Nifty March futures down by 1.81% at a premium of 155.35 points.

  • Nifty March futures open interest up by 6.86%.

  • Nifty Options March 6 Expiry: Maximum call open interest at 22,500 and maximum put open interest at 20,800.

  • Securities in ban period: Nil.

Currency Update

The rupee closed sharply lower against the greenback as demand for the safe-haven unit persisted in the wake of tariff outlook uncertainty. The rupee closed 32 paise weaker at 87.52 against US dollar on Friday.

. Read more on Markets by NDTV Profit.The NSE Nifty 50 ended 420.35 points or 1.86% lower at 22,124.70, while the BSE Sensex closed 1,414.33 points or 1.9% down at 73,198.10 on Friday.  Read MoreMarkets, Business, Notifications 

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