The equity benchmark indices are expected to open in the red on Monday, February 24. At 7:59 AM, GIFT NIFTY futures were trading at 22,691.50, up 76.50 points, or 0.34%, suggesting that the NIFTY50 index will open 132 points lower today. This comes as global markets saw mixed performances, with Wall Street closing lower while European stocks edged higher amid concerns over US President Donald Trump’s policy changes and Germany’s upcoming elections. Additionally, oil prices declined by more than 2%, and gold retreated from record highs, adding to the market volatility.
NTPC, the state-owned power giant, has partnered with EDF India, a subsidiary of the French firm Electricite de France, to develop pumped hydro storage and hydro projects integrated with renewable energy initiatives. The two companies signed a non-binding term sheet to explore opportunities in the distribution sector, aiming to expand sustainable energy production in India.
In the healthcare sector, Healthcare Global Enterprises (HCG) saw a major development as global investment firm KKR acquired a 54% stake from CVC Asia V for up to $400 million. The transaction, at ₹445 per share, marks a strategic shift in ownership that could impact the company’s future growth trajectory.
Meanwhile, Jagsonpal Pharmaceuticals faced regulatory scrutiny as the USFDA flagged significant lapses in its active pharmaceutical ingredients (APIs) manufacturing plant in Rajasthan. The warning letter highlighted deviations from current good manufacturing practices during inspections conducted between March and April 2024.
In the banking sector, Bank of Maharashtra (BoM) has announced a 25 basis points interest rate cut on retail loans, including home and car loans. This move follows the RBI’s decision to lower the repo rate to 6.25% after five years, bringing the home loan interest rate to 8.10% and car loan rates down to 8.45% per annum.
Adani Group reported a significant increase in tax payments, with group companies contributing ₹58,104 crore in taxes for 2023-24, up from ₹46,610 crore in the previous fiscal year. The taxes include direct contributions, indirect levies, and employee-related social security contributions. This development reflects the conglomerate’s growing financial footprint.
FMCG major Marico anticipates double-digit revenue growth in FY25, supported by price hikes and improved sales volumes. However, inflationary pressure on material costs in the latter half of the fiscal year may impact operating margins, which are expected to remain in the broad range of 20%.
Global technology leader Siemens plans to increase its manufacturing capacity in India under the Make in Indiainitiative. This expansion aims to meet both domestic and international demand across sectors such as power generation, transmission, and rail transportation. Similarly, Schneider Electric announced plans to establish three new manufacturing plants in Kolkata, Hyderabad, and Ahmednagar, adding to its existing 31 plants in India.
The stock market saw substantial losses among top firms, with TCS suffering the most. The company’s market valuation dropped by ₹53,185.89 crore, bringing its total market cap to ₹13,69,717.48 crore. This contributed to the combined market erosion of ₹1,65,784.9 crore among eight of the top ten most valued firms.
Real estate firm Signature Global anticipates a significant jump in operational revenue, projecting more than ₹3,000 crore this fiscal year, over 2.5 times the previous year’s revenue. The increase is attributed to strong sales and project completions.
In the pharmaceutical sector, Alkem Laboratories saw an investment from SBI Mutual Fund, which acquired 6.41 lakh shares worth ₹300 crore in an open market transaction. The shares were purchased at an average price of ₹4,680 per share, reflecting confidence in the company’s long-term growth potential.
Drug firm Granules India expanded its global presence by acquiring Switzerland-based CDMO firm Senn Chemicals AG for CHF 20 million (approximately ₹192 crore). This acquisition strengthens Granules India’s expertise in peptide-based applications and contract manufacturing.
In telecom, Bharti Airtel announced plans to increase its stake in Airtel Africa by up to 5%. This move, through its step-down subsidiary Airtel Africa Mauritius Limited, is part of the company’s strategic efforts to strengthen its international presence.
Investment firm Premji Invest, led by Azim Premji, executed a ₹446 crore transaction involving shares from nine companies, including Bharti Airtel, Jindal Steel & Power, and Reliance Industries. Other investments were made in Adani Ports, Ambuja Cements, Hindalco, ICICI Bank, Infosys, and SBI Life Insurance.
Food delivery giant Swiggy announced a ₹1,000 crore investment in its logistics subsidiary, Scootsy Logistics, to expand supply chain operations. In the real estate sector, Brigade Enterprises expressed plans to invest ₹1,500 crore in Kerala, potentially generating 12,000 jobs over the next five years.
Mining giant Vedanta emerged as the preferred bidder for the Kauhari Diamond Block in Madhya Pradesh, a 643.4-hectare site at the G4 exploration level. This bid signals the company’s continued expansion in the mining sector.
In financial markets, Jio Financial Services and Zomato are set to join the Nifty 50 index from March 28, replacing BPCL and Britannia Industries. Meanwhile, NTPC Green Energy will see the end of a three-month shareholder lock-in period, with 18.33 crore shares becoming eligible for trading.
Bank of India (BoI) reported a ₹226.84 crore fraud linked to Gupta Power Infrastructure Ltd, marking a significant financial setback for the bank. Additionally, Bajaj Auto announced a major investment of up to Euro 150 million (₹1,364 crore) in its wholly-owned Netherlands-based subsidiary for strategic expansion.
Adani Green Energy Limited (AGEL) successfully operationalized a 250 MW solar project in Jaisalmer, Rajasthan, increasing its total renewable generation capacity to 11,916.1 MW.
Microfinance firm Satin Creditcare Network Ltd. (SCNL) received a SQS2 Sustainability Quality Score from Moody’s Ratings, acknowledging its commitment to sustainability and financial inclusion.
Tech distributor Redington Ltd announced it will offer the Apple iPhone 16e at over 7,000 retail locations across India. The new device, featuring an A18 chip and 48MP camera system, will be available for pre-order from February 21 and on sale from February 28.
Health insurance provider Niva Bupa reported a potential cybersecurity breach, with an anonymous entity claiming to have hacked its customer database. The company has initiated an investigation to assess the potential data leak.
Healthcare giant Aster DM Healthcare announced a ₹850 crore investment in Kerala over the next three years, following a ₹500 crore investment in the past three years. The company currently operates seven hospitals in the state, accounting for 53% of its India revenue.
Infrastructure firm Hazoor Multi Projects Ltd secured a ₹102 crore contract for steel works in Maharashtra, awarded by Venkatesh Infra Projects. The project is expected to be completed within six months.
State Bank of India (SBI) announced plans to achieve Net-Zero emissions by 2055, reinforcing its commitment to environmental sustainability.
RailTel Corporation of India received a ₹288.14 crore work order from East Central Railway, while RVNL emerged as the lowest bidder for a ₹156.35 crore South Western Railway project.
With global market volatility and domestic economic developments shaping the day’s trading, investors are expected to navigate a complex financial landscape as trading opens today.
