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PRE-MARKET REPORT
The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open lower on Monday following weakness in global markets.
Gift Nifty was trading around 23,383, a discount of nearly 170 points from the Nifty futures’ previous close, indicating a gap-down start for the Indian stock market indices.
US stock futures plunged on Sunday after new US tariffs on goods from Canada, Mexico, and China.
Futures tied to the Dow Jones Industrial Average declined 463 points, or 1%, while S&P 500 futures dropped 1.6%. Nasdaq-100 futures were down 2.1%.
Asian stock markets tumbled on Monday, and the US tariffs on Canada, Mexico, and China triggered fears of a broad trade war. Japan’s Nikkei 225 declined 1.84%, while the Topix dropped 1.75%. South Korea’s Kospi plunged 2.32% and the Kosdaq fell 1.9%. Chinese markets remain closed for the Lunar New Year holiday.
STOCKS TODAY
Happiest Minds Technologies: The IT firm acquired the Middle East business of Gavs Technologies Ltd., signing definitive agreements for 100% acquisition of InnovazIT Technologies LLC (Dubai), Gavs Technologies LLC (Oman), and Gavs Technologies Saudi Arabia for $1.7 million. The deal, expected to close by March 15, 2025, will enhance its regional presence and strengthen customer relationships.
Hazoor Multi Projects: The company has proposed a 500 MW solar project in Andhra Pradesh with a planned investment of ₹2,500 crore over 2,000 acres in Prakasam district. The Andhra Pradesh government has tasked NREDCAP with facilitating the project and requested a detailed project report (DPR) from the company.
MOIL: MOIL produced 1.6 lakh tonnes of manganese ore in January. Sales rose 17% to 1.57 lakh tonnes, while exploratory drilling increased 10% to 11,099 meters. The company also raised ore prices, with manganese content of 44% and above seeing a 3.5% hike, while grades below 44% rose by 8.2%. Prices of all chemical grades were also raised by 8.2%.
Aarti Industries: Aarti Industries reported a 63% YoY decline in net profit to ₹46 crore for Q3FY25, down from ₹124 crore in the previous year. However, revenue rose 6% to ₹1,840 crore.
GR Infraprojects: The company reported a 7.8% increase in net profit to ₹261.7 crore, while revenue declined 20.6% to ₹1,694.5 crore. EBITDA fell 27.1% to ₹370 crore, with EBITDA margins at 21.8%, down from 23.8%.
Neogen Chemicals: The specialty chemicals firm posted a 10-fold increase in net profit to ₹10 crore from ₹1 crore in the previous year. Revenue grew 22.5% to ₹201.4 crore, while EBITDA surged 71.3% to ₹34.6 crore, with margins improving to 17.2% from 12.3%.