Market Opens :
The geopolitical tension on Indo-Pak border has pulled the Nifty below 10,800 in the opening trade, while Sensex is down over 350 points.
At 09:18 hrs IST, the Sensex is down 170.97 points at 36042.41, while Nifty is down 60.90 points at 10819.20.
About 171 shares have advanced, 780 shares declined, and 41 shares are unchanged.
Top gainers are Bharti Infratel, Asian Paints and HCL Tech, while losers include Yes Bank, SBI, Indiabulls Housing, JSW Steel, Hero Moto, ONGC, ICICI Bank, Hindalco, Vedanta, Bajaj Fiance and Rain Industries, Jet Airways and Spicejet.
Rupee opens :
The Indian rupee slipped in the early trade on Tuesday. It opened lower by 28 paise at 71.26 per dollar versus previous close 70.98.
The dollar-rupee March contract on the NSE was at 71.25 in the previous session. March contract open interest increased 16.50% in the previous session, said ICICIdirect.
We expect the USD-INR to find supports at lower levels. Utilise down sides in the pair to initiate long positions, it added.
Global Markets :
SGX Nifty:
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 46 points or 0.42 percent. Nifty futures were trading around 10,846.50-level on the Singaporean Exchange.
Wall Street ends higher:
Wall Street's three major indexes ended higher on Monday but well below the session's highs after President Donald Trump said he would delay a planned hike in tariffs on Chinese imports.
Crude update:
Oil prices edged higher on Tuesday, finding steady ground after tumbling more than 3 percent in the previous session when U.S. President Donald Trump called on OPEC to ease its efforts to boost the market.
Domestic Market :
IAF strikes in PoK LIVE: Jets attack terror camps across LoC, 200-300 casualties reported
Prime Minister Narendra Modi has been briefed by National Security Advisor (NSA) Ajit Doval. The 12 Mirage 2000 jets that participated in the operation have returned safely.
1,000 kg bombs were dropped on terror camps across the LoC, IAF sources have tld news agency ANI.
Multiple Indian Air Force (IAF) jets on the night of February 25-26 crossed the Line of Control (LoC) and carried out limited strikes on several Jaish-e-Mohammed (JeM) camps.
Results on February 26: Richa Industries, Sanofi India, Elantas Beck, Shailja Commercial
Here are stocks that are in the news today:
Emco: Sanjay Bhatnagar tenders his resignation as Independent Director and resigned from all memberships of committees of company.
Lupin:Company receives USFDA approval for Methylprednisolone tablets.
Mastek: IDFC AMC Limited (investment manager of IDFC Mutual Fund) through its various schemes additionally acquired equity shares in company to the extent of 0.0225 percent which has resulted in holding upto 5.0223 percent of the paid up capital of the company.
HIL: India Ratings & Research assigned long term credit rating as AA- with stable outlook for loan facilities worth Rs 276 crore:
Antel and Tata Communications build new cloud-based network for mobile and IoT providers.
Corporation Bank board has approved the proposal of capital raising plan to the extent of Rs 12,500 crore
Bharat Forge clarified that it has signed a Memorandum of Understanding (MoU) with Bharat Electronics (BEL) on February 21, 2019 at Aero India Show, 2019, Bengaluru
Indostar approved issue of NCD worth Rs 150 crore on private placement basis
Bliss GVS board approved the increase of Foreign Portfolio Investors/Foreign Institutional Investors limits from 24% to 74% in the compa
Lakshmi Vilas Bank: Brickwork Ratings India revised the rating from BBB+ to BBB- (Credit watch with Developing Implications) for unsecured redeemable non-convertible subordinated lower Tier II Bonds - Series VII (Option B) of Rs 50.50 crore.
Hi-Tech Gears: Vijay Mathur has tendered his resignation from the post of Chief Financial officer. However, he will continue to act as Senior General Manager (Finance). Dinesh Chand Sharma has been elevated to the post of Chief Financial Officer.
Corporation Bank: Board approved the proposal of capital raising plan to the extent of Rs 12,500 crore by way of either issue and allotment of equity shares on preferential basis or by way of additional tier 1 Bonds or Tier II Bonds or follow on public issue or rights issue or qualified institutions placement or issue and allotment of equity shares on preferential basis to Government of India or debt issue or in combination of these thereof.
Thermax: Company has entered into definitive agreement with Mutares Holding-24 AG, Germany and Balcke-Duerr GmbH, Germany, JV partners of Thermax SPX Energy Technologies Limited (TSPX) to acquire their shareholding in the TSPX a JV and subsidiary company in India. Post transfer of shares TSPX will become the wholly owned subsidiary of the company.
Sharda Motor Industries: Company has entered into the joint venture (JV) agreement with Eberspaecher Exhaust Technology International GmbH (EET) for business development of BS VI norms in commercial vehicle segment in India also. Board in principally agreed to the proposed demerger of the automobile seating business.
Bharti Airtel: Airtel and Ciena to build one of the world's largest photonic control plane networks in India for delivering ultra-fast data over 4G, 5G and FTTH. Network to span 130,000 kms and connect 4000+ towns across India.
Tejas Networks: Company launches world's first ultra-converged broadband product at Mobile World Congress, Barcelona.
Out of F&O ban: PC Jeweller
Bulk Deals on February 25
Avadh Sugar & Energy: Life Insurance Corporation (Scheme 5) sold 58,259 shares of the company at Rs 475.83 per share on the NSE.
NALCO: ICICI Prudential Mutual Fund - BHARAT 22 ETF sold 1,24,12,768 shares of the company at Rs 48.03 per share.
Viji Finance: Vijay Kothari sold 7,51,650 shares of the company at 70 paise per share.
Analyst or Board Meet/Briefings
Bharti Airtel: Board meeting is scheduled on February 28 to consider (i) the recommendations of 'Special Committee of Directors for Fund Raising' and; (ii) the proposal for raising of funds by issue of equity shares, bonds/debentures or other securities including through qualified institutions placement, rights issue, preferential issue or through any other permissible mode or a combination thereof.
Mahindra & Mahindra Financial Services: Company's officials will meet Aditya Birla Sun Life AMC on February 27.
Tube Investments of India: Company's officials will meet analysts/investors on February 26 and 27.
Corporation Bank: Extraordinary General Meeting of the shareholders of the bank to be held on March 27, 2019.
Generic Pharmasec: Board meeting will be held on February 28 to consider sub-division of equity shares (face value of Rs 10 per share) of the company.
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