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Market Kickoff: Strong Global Cues Drive Optimism – All Eyes on Indian Markets

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Market Setup for February 24, 2025 Today's Market at 08:45am US Market (Futures) Nasdaq = +93 Dow Jones = +190 S&P 500 = +28 European (Futures) Ftse 100 = +27 &nb...

Market Setup for February 24, 2025

Today's Market at 08:45am

US Market (Futures)

Nasdaq = +93

Dow Jones = +190

S&P 500 = +28

European (Futures)

Ftse 100 = +27

Cac 40 = +52

Dax = +223

Asian

Nikkei 225 = +170 (Futures)(Market Holiday)

ASX 200 = +2

Straits Times = +17

Hang Seng = +79

Taiwan weighted = -165

Kospi = -17

China A50 = -40

Gift Nifty = 22707 (+92)

FII and DII Trading Activity for February 21, 2025 in Cash market:

FIIs: Net Sell of ₹3449.15 crore

DIIs: Net Buy of ₹2884.61 crore

Stocks to Watch:

Zomato & Jio Financial Services: Replacing Britannia Industries and Bharat Petroleum Corporation in Nifty 50 (effective March 28).

Nifty Next 50 changes: Bajaj Housing Finance, BPCL, Britannia, CG Power, Hyundai Motor India, Indian Hotels, and Swiggy replacing Adani Total Gas, BHEL, IRCTC, Jio Financial Services, NHPC, Union Bank, and Zomato.

Company Updates:

Bharti Airtel: Approved increasing its stake in Airtel Africa plc (up to 5%) in FY25 via Airtel Africa Mauritius.

Coal India: Signed a term sheet with EDF India for a joint venture on PSP & renewable energy projects.

Crompton Greaves: Appointed Tanmay Prusty as Chief Marketing Officer (effective Feb 24).

Zaggle Prepaid Ocean Services: Signed a customer service agreement with Indus Towers for its employee expense management platform.

Jagsonpal Pharmaceuticals: Acquiring Resilient Cosme-Ceuticals’ India business for ₹24 crore; received a USFDA warning letter (Feb 5).

Adani Green Energy: Operationalized a 250 MW solar power project in Jaisalmer, increasing total capacity to 11,916.1 MW.

Lupin: Received an Establishment Inspection Report from US FDA for its Somerset, New Jersey facility (inspection conducted Jan 27–31, 2025).

Rail Vikas Nigam: Won a ₹156.35 crore South Western Railway project (2x25 KV OHE & PSI system).

Ujjivan Small Finance Bank: Approved selling ₹364.51 crore in NPA and written-off loans to an asset reconstruction company.

Paisalo Digital: Withdrew proposed preferential issue of 3.37 crore convertible equity warrants due to market volatility.

Bajaj Auto: Approved investing up to €150 million in Bajaj Auto International Holdings BV (Netherlands).

Granules India: Acquiring 100% stake in Swiss-based Senn Chemicals AG for ₹192.5 crore; incorporating a subsidiary for the acquisition.

Allcargo Logistics: LCL volume grew 4% YoY, 1% MoM in Jan due to Lunar New Year; FCL volume up 6% YoY but down 9% MoM.

RailTel Corporation: Received a ₹288.15 crore work order from East Central Railway.

Swiggy: Approved investing ₹1,000 crore in Scootsy Logistics via rights issue.

Ami Organics: Approved stock split (1 equity share of ₹10 into 2 shares of ₹5 each).

SRF: Commissioned remaining part of ₹361 crore fluorocarbon refrigerant gas expansion project at Dahej.

Vedanta: Declared preferred bidder for Kauhari Diamond block (643.42 hectares, highest final price offer 1.10%).

Brigade Enterprises: Plans ₹1,500 crore investment in Kerala (12,000 jobs); setting up WTC and luxury island resort (completion by 2030).

Sectoral & Regulatory Developments:

Direct-to-home (DTH) sector: TRAI recommended reducing authorization fees from 8% to 3% of AGR, with plans to eliminate it after FY27.

Bulk Deals:

Alkem Laboratories: SBI Mutual Fund bought a 0.5% stake at ₹4,680/share from Samprada & Nanhamati Singh Family Trust (₹300.32 crore).

Upcoming Listings (Feb 24):

Mainboard: Quality Power Electrical Equipments

SME: Royal Rrc Electrodes, Tejas Cargo India

Other Market Updates:

Ex-Dividend Stocks: ASM Technologies, Prithvi Exchange India

F&O Ban: Chambal Fertilisers, Manappuram Finance

Source: Moneycontrol, Investing.com

Stay Ahead – Explore Now! Nifty 50 Recovers Intraday Losses Amid Global Volatility

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