Stocks in the Asia-Pacific were trading higher on Friday after the Wall Street stocks hit all-time highs on the back of an upbeat outlook for Nvidia Corp.
The S&P ASX 200 was trading 23.66 points or 0.31% higher as of 06:37 a.m., while KOSPI advanced 0.96% to 2,680.95. The Japanese stock market remained closed as the country celebrated the Emperor's birthday.
The bullish mood continued on Wall Street overnight, with a buoyant outlook for Nvidia Corp., as it surged 16%, while fresh data showed that the U.S. economy is still going strong, Bloomberg reported.
The S&P 500 was up 2.11% higher and the Nasdaq 100 advanced 2.96% as of Thursday. The Dow Jones Industrial Average traded 1.18% higher.
Brent crude was up 0.77% at $83.67 a barrel. Gold was up 0.08% at $2,026.09 an ounce.
India’s benchmark stock indices recouped losses to end higher on Thursday as information technology and auto stocks led the gains.
The Nifty ended 162.40 points, or 0.74%, up to a record closing high of 22,217.45 and the S&P BSE Sensex closed 535.15 points, or 0.74%, higher at 73,158.24.
Overseas investors turned net sellers of Indian equities on Thursday after a day of buying. Foreign portfolio investors sold stocks worth Rs 1,410.1 crore, while domestic institutional investors turned net buyers and bought equities worth Rs 1,823.7 crore after a day of selling, the NSE data showed.
The Indian currency strengthened 12 paise to close at Rs 82.85 against the U.S. dollar.
Stocks To Watch
Vodafone Idea: The board will meet on Feb. 27 to consider fundraising proposals. KM Birla has said the Aditya Birla Group does not plan to exit the business and is looking for new investors.
Bank of Baroda: The lender raised Rs 2,500 crore via Tier II bonds at a 5.57% coupon.
IRCTC: Entered into a pact with Swiggy Foods for the supply and delivery of pre-ordered meals. The first phase of the supply pact will include Bengaluru, Bhubaneswar, Vijayawada and Visakhapatnam stations.
IRB Infrastructure: The company approved raising up to $550 million via FX bonds.
Power Finance Corp.: The company will consider a fundraising proposal on Feb. 29.
Ramkrishna Forgings: The company received board approval for the commencement of manufacturing and supplies from the company’s Mexico location.
Oil India: The company signed an MoU with Fertilisers and Chemicals Travancore (FACT) for green hydrogen.
Prataap Snacks: The company clarified that it is not in negotiations with ITC for a stake sale.
Concord Biotech: The company has received a certificate of good manufacturing practices from Kenyan authorities at its Ahmedabad plant.
ION Exchange India: NCLT, Mumbai-approved scheme of amalgamation of Global Composites and Structurals and Ion Exchange Environment Management with Ion Exchange (India).
Bandhan Bank: Rajeev Mantri is appointed as the CFO. Accordingly, Abhijit Ghosh ceases to be the interim CFO.
IRB INVIT: Toll collection on the IRB Pathankot Amritsar Toll Road has been temporarily stopped due to farmers’ agitation in Punjab.
Paisalo Digital: The board will consider and approve the allotment of NCDs for private placement on Feb 27.
Jindal Worldwide: The company has plans to launch three scooters with 12 variants (B2B and B2C) and one sports bike with 2 variants in FY25.
UCO Bank appointed Aravamudan Krishna Kumar as part-time non-official director as well as non-executive chairman for a term of three years.
Jupiter Life Line Hospitals: The company has leased land for 10 years in Bibvewadi, Pune, for setting up a hospital with an annual lease rental of Rs 9.27 crore.
Dilip Buildcon, a wholly owned subsidiary, executed the concession agreement with the Public Works Department, Goa for Rs 270.07 crore for the construction of Zuari Observatory Towers.
Bharat Forge: The company has invested Rs 133.58 crore in Bharat Forge Global Holding GmbH.
Dreamfolks Services: Eco Mobility expanded its pact with the company for car rental services as part of DreamFolks Club memberships.
Salsaar Technologies: RVNL-SALASAR JV emerged as the lowest bidder from Madhya Pradesh Power Transmission Company for the construction of transmission lines and associated feeder bays for a project cost of Rs 173 crore.
Zydus Lifesciences: The company incorporated a wholly owned subsidiary company in the name of Zydus Lifesciences Global FZE in the UAE.
Bajaj Auto: The company made a further investment of Rs 45.75 crore in Yulu Bikes.
Texmaco Rail & Engineering: The board will consider fundraising through various means on Feb. 27.
Angel One: The board approved raising up to Rs 2,000 crore in tranches.
Morepen Labs: The board approved raising funds up to Rs 350 crore via QIPs.
IPO Offerings
Juniper Hotels: The public issue was subscribed to 0.23 times on day 2. The bids were led by retail investors (0.87 times), non-institutional investors (0.14 times), and institutional investors (0.6 times).
GPT Healthcare: The public issue was subscribed to 0.37 times on day 1. The bids were led by retail investors (0.66 times), non-institutional investors (0.18 times), and no bids from institutional investors.
Block Deals
Eureka Forbes: Lunolux sold 1.93 crore shares (10%) at Rs 506.06 apiece. Goldman Sachs India Equity Portfolio bought 23.45 lakh shares (1.21%), Morgan Stanley Asia bought 19.44 lakh shares (1%), Cassini Partners bought 18.91 lakh shares (0.97%), Plutus Wealth Management bought 14.85 lakh shares (0.76%), among others, at Rs 504.95 apiece
Bulk Deals
RBL Bank: Mathew Cyriac bought 32.75 lakh shares (0.54%) at Rs 265.58 apiece.
Insider Trades
Elecon Engineering Co.: Promoter KB Investments Pvt. sold 16,644 shares
Som Distilleries & Breweries: Promoter Jagdish Kumar Arora bought 10,000 shares.
Greenply Industries: Promoter Rajesh Mittal bought 8,500 shares.
Choice International: Promoter Ns Technical Consultancy bought 1 lakh shares.
Ashapura Minechem: Promoter Ashapura Industrial Finance bought 15,000 shares.
Lincoln Pharmaceuticals: Promoter Renukaben Maheshbhai Patel sold 11,353 shares.
Pledge Share Details
Chambal Fertilisers & Chemicals: Promoter Zuari Industries created a pledge for 2.5 lakh shares.
Who's Meeting Whom
Firstsource Solutions: To meet analysts and investors on Feb. 27.
Heritage Foods: To meet analysts and investors on Feb. 27.
Tejas Networks: To meet analysts and investors on Feb. 27.
Aditya Birla Capital: To meet analysts and investors on Feb. 27.
ICICI Prudential Life Insurance: To meet analysts and investors on Feb. 28.
Landmark Cars: To meet analysts and investors on Feb. 27.
Dharmaj Crop Guard: To meet analysts and investors on Feb. 26.
Ceat: To meet analysts and investors on March 4.
Titan: To meet analysts and investors on Feb. 26, March 1, March 4.
Pricol: To meet analysts and investors on March 22.
UCO Bank: To meet analysts and investors on Feb. 27.
IndusInd Bank: To meet analysts and investors on Feb. 28.
Godawari Power and Ispat: To meet analysts and investors on Feb. 29.
Mold-Tek Packaging: To meet analysts and investors on March 4.
Sky Gold: To meet analysts and investors on Feb. 27.
Trading Tweaks
Moved into short-term ASM framework: Jubilant Industries, Zomato, and Swelect Energy Systems.
Ex/Record Interim Dividend: Aegis Logistics, Bharat Forge, BLS International Services, Bosch, Cantabil Retail, Dynamatic Technologies, Garden Reach Shipbuilders & Engineers, India Nippon Electricals, Kirloskar Oil Engines, National Aluminium, Saurashtra Cement, Sun TV Network, United Drilling Tools.
Ex/Record Buyback: Kaveri Seed Company, Zydus Lifesciences.
Ex/Record Stock Split: Remedium Lifecare.
F&O Cues
Nifty February futures up by 0.9% to 22,243.25 at a premium of 25.8 points.
Nifty February futures open interest down by 0.59%.
Nifty Bank February futures down by 0.1% to 46,980.30 at a premium of 60.5 points.
Nifty Bank February futures open interest down by 12.33%.
Nifty Options Feb. 29 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 21,000.
Bank Nifty Options Feb. 29 Expiry: Maximum Call open interest at 47,000 and Maximum Put open interest at 45,000.
Securities in the ban period: Aditya Birla Fashion and Retail, Ashok Leyland, Balrampur Chini Mills, Bandhan Bank, Biocon, GMR Infra, GNFC, Hindustan Copper, Indus Tower, National Aluminium, Piramal enterprise, PVR Inox, RBL Bank, SAIL, Zee Entertainment Enterprise
Money Market Update
The Indian currency strengthened 12 paise to close at 82.85 against the U.S. dollar.
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