Good morning!
The GIFT Nifty is trading 50 points or 0.2% higher at 25,917 as of 6:50 a.m., after an overnight surge of as much as 4.5%. India and the United States have agreed to a trade deal under which reciprocal tariffs on Indian goods will be slashed to 18% from 25% and the additional 25% duty linked to the purchases of Russian crude oil will be eliminated.
Asia Market Update
Asian stocks climbed after their steepest two-day drop since April as markets found footing following sharp swings in gold and silver that sent ripples across assets. The MSCI Asia Pacific Index climbed over 1.5%, with technology shares leading. Stocks in South Korea — a poster child for artificial intelligence and one of the world’s best-performing indexes this year — recovered after plummeting 5.3% on Monday.
US Market Check
US stocks rebounded on Monday, after stronger-than-expected manufacturing data outweighed lingering questions about the interest-rate outlook following President Donald Trump’s decision to pick Kevin Warsh as the next Federal Reserve chair. The S&P 500 Index closed 0.5% higher in New York, falling short of a fresh record high as it snapped three consecutive sessions of losses. The technology-heavy Nasdaq 100 Index rose 0.7%.
India Market Recap
Indian equities opened in the red but gave up losses to close in green extending snapping its two-day fall. Intraday, both Nifty and Sensex fell nearly 0.60% but gained over 1%. Nifty ended 262.95 points or 1.06% higher at 25,088.40. Sensex ended 909.11 points or 1.13% higher at 81,632.05.
Foreign portfolio investors offloaded shares worth Rs 1,859.72 crore on a net basis, according to provisional data on the National Stock Exchange Ltd. On the other hand, the domestic institutional investors (DIIs) net purchased shares worth Rs 1,764 crore.
Earnings Post Market Hours
Ather Energy Q3 Highlights (Cons, YoY)
- Revenue up 50.19% at Rs 953.6 crore versus Rs 634.9 crore.
- EBITDA loss at Rs 72 crore versus loss of Rs 140.7 crore.
- Net loss at Rs 83.6 crore versus loss of Rs 197.6 crore.
Tata Chemicals Q3 Highlights (Cons, YoY)
- Revenue down 1.12% at Rs 3,550 crore versus Rs 3,590 crore.
- EBITDA down 20.5% at Rs 345 crore versus Rs 434 crore.
- EBITDA margin down 237 bps at 9.71% versus 12.08%.
- Net loss at Rs 93 crore versus loss of Rs 53 crore.
PB Fintech Q3 Highlights (Cons, YoY)
- Revenue up 37.1% at Rs 1,771 crore versus Rs 1,292 crore.
- EBITDA up ~476% at Rs 159 crore versus Rs 27.6 crore.
- EBITDA margin up 690 bps at 9% versus 2.1%.
- Net profit up ~164% at Rs 189 crore versus Rs 71.5 crore.
Bajaj Housing Q3 Highlights (Cons, YoY)
- Total income up 17.8% at Rs 2,886 crore versus Rs 2,451 crore.
- Net profit up 21.3% at Rs 665 crore versus Rs 548 crore.
City Union Bank Q3 Highlights (Standalone, YoY)
- NII up 28% at Rs 752 crore versus Rs 588 crore.
- Operating profit up 17.7% at Rs 513 crore versus Rs 436 crore.
- Provisions up 28% at Rs 96 crore versus Rs 75 crore.
- Gross NPA at 2.17% versus 2.42% (QoQ).
- Net NPA at 0.78% versus 0.9% (QoQ).
- Net profit up 16.1% at Rs 332 crore versus Rs 286 crore.
Utkarsh SFB Q3 Highlights (Standalone, YoY)
- NII down 27% at Rs 348 crore versus Rs 480 crore.
- Operating loss at Rs 44 crore versus profit of Rs 185 crore.
- Provisions up 5.5% at Rs 446 crore versus Rs 423 crore.
- Gross NPA at 11.05% versus 12.42% (QoQ).
- Net NPA at 4.48% versus 5.02% (QoQ).
- Net loss at Rs 375 crore versus loss of Rs 168 crore.
Awfis Space Solutions Q3 Highlights (Cons, YoY)
- Revenue up 20.16% at Rs 381.776 crore versus Rs 317.721 crore.
- EBITDA up 29.78% at Rs 139.21 crore versus Rs 107.26 crore.
- EBITDA margin up 270 bps at 36.46% versus 33.75%.
- Net profit up 42.66% at Rs 21.655 crore versus Rs 15.179 crore.
Railtel Q3 Highlights (Cons, YoY)
- Revenue up 18.99% at Rs 913.45 crore versus Rs 767.62 crore.
- EBITDA up 10.13% at Rs 133.43 crore versus Rs 121.15 crore.
- EBITDA margin down 117 bps at 14.6% versus 15.78%.
- Net profit down 4.07% at Rs 62.4 crore versus Rs 65.05 crore.
PG Electroplast Q3 Highlights (Cons, YoY)
- Revenue up 45.92% at Rs 1,412.13 crore versus Rs 967.69 crore.
- EBITDA up 37.23% at Rs 116.88 crore versus Rs 85.17 crore.
- EBITDA margin down 52 bps at 8.27% versus 8.8%.
- Net profit up 56.68% at Rs 61.9588 crore versus Rs 39.5439 crore.
eMudhra Q3 Highlights (Cons, YoY)
- Revenue up 35.4% at Rs 188.01 crore versus Rs 138.85 crore.
- EBIT up 32.87% at Rs 31.04 crore versus Rs 23.36 crore.
- EBIT margin down 31 bps at 16.5% versus 16.82%.
- Net profit up 36.68% at Rs 28.667 crore versus Rs 20.973 crore.
Corona Remedies Q3 Highlights (Cons, YoY)
- Revenue up 15.02% at Rs 342.42 crore versus Rs 297.69 crore.
- EBITDA up 19.79% at Rs 83.16 crore versus Rs 69.42 crore.
- EBITDA margin up 96 bps at 24.28% versus 23.31%.
- Net profit down 8.18% at Rs 41.27 crore versus Rs 44.95 crore.
Chalet Hotels Q3 Highlights (Cons, YoY)
- Revenue up 27.06% at Rs 581.68 crore versus Rs 457.79 crore.
- EBITDA up 29% at Rs 265 crore versus Rs 204 crore.
- EBITDA margin at 45.61% versus 44.63%.
- Net profit up 28.54% at Rs 124.09 crore versus Rs 96.54 crore.
Honeywell Automation Q3 Highlights (Cons, YoY)
- Revenue up 7.14% at Rs 1,168.7 crore versus Rs 1,090.8 crore.
- EBITDA up 3.94% at Rs 147.6 crore versus Rs 142 crore.
- EBITDA margin down 38 bps at 12.62% versus 13.01%.
- Net profit down 8.25% at Rs 121.2 crore versus Rs 132.1 crore.
Olectra Greentech Q3 Highlights (Cons, YoY)
- Revenue up 28.76% at Rs 663.6 crore versus Rs 515.37 crore.
- EBITDA up 18.1% at Rs 93.22 crore versus Rs 78.93 crore.
- EBITDA margin down 126 bps at 14.04% versus 15.31%.
- Net profit up 0.15% at Rs 46.4 crore versus Rs 46.33 crore.
Aditya Birla Lifestyle Q3 Highlights (Cons, YoY)
- Revenue up 9.57% at Rs 2,343.17 crore versus Rs 2,138.4 crore.
- EBITDA up 23.58% at Rs 411.81 crore versus Rs 333.23 crore.
- EBITDA margin up 199 bps at 17.57% versus 15.58%.
- Net profit up 14.42% at Rs 69.01 crore versus Rs 60.31 crore.
Aarti Industries Q3 Highlights (Cons, YoY)
- Revenue up 25.82% at Rs 2,319 crore versus Rs 1,843 crore.
- EBITDA up 38.79% at Rs 322 crore versus Rs 232 crore.
- EBITDA margin up 129 bps at 13.88% versus 12.58%.
- Net profit up 189.13% at Rs 133 crore versus Rs 46 crore.
Paradeep Phosphates Q3 Highlights (Cons, YoY)
- Revenue up 15.21% at Rs 5,748.67 crore versus Rs 4,989.55 crore.
- EBITDA up 7.84% at Rs 472.49 crore versus Rs 438.1 crore.
- EBITDA margin down 56 bps at 8.21% versus 8.78%.
- Net profit down 13.03% at Rs 182.06 crore versus Rs 209.34 crore.
Transrail Lighting Q3 Highlights
- Revenue up 32.59% at Rs 1,777.19 crore versus Rs 1,340.36 crore.
- EBITDA up 28.6% at Rs 208.49 crore versus Rs 162.12 crore.
- EBITDA margin down 36 bps at 11.73% versus 12.09%.
- Net profit up 17.69% at Rs 109.74 crore versus Rs 93.24 crore.
Thermax Q3 Highlights (Cons, YoY)
- Revenue up 4.19% at Rs 2,634.68 crore versus Rs 2,528.72 crore.
- EBITDA up 34.83% at Rs 254.82 crore versus Rs 188.99 crore.
- EBITDA margin up 219 bps at 9.67% versus 7.47%.
- Net profit up 76.16% at Rs 204.18 crore versus Rs 115.9 crore.
Indus Towers Q3 Highlights (Cons, YoY)
- Revenue up 7.9% at Rs 8,146 crore versus Rs 7,548 crore.
- EBITDA down 35.6% at Rs 4,509 crore versus Rs 6,997 crore.
- EBITDA margin down 3,740 bps at 55.3% versus 92.7%.
- Net profit down 55.6% at Rs 1,776 crore versus Rs 4,003 crore.
Interarch Building Solutions Q3 Highlights
- Revenue up 43.7% at Rs 523 crore versus Rs 364 crore.
- EBITDA up 43.2% at Rs 50.3 crore versus Rs 35.1 crore.
- EBITDA margin down 10 bps at 9.6% versus 9.7%.
- Net profit up 32.2% at Rs 37.3 crore versus Rs 28.2 crore.
Akzo Nobel India Q3 Highlights (Cons, YoY)
- Revenue down 13.59% at Rs 907.7 crore versus Rs 1,050.5 crore.
- EBITDA down 18.33% at Rs 136.3 crore versus Rs 166.9 crore.
- EBITDA margin down 87 bps at 15.02% versus 15.89%.
- Net profit down 31.58% at Rs 74.3 crore versus Rs 108.6 crore.
Veedol Corp Q3 Highlights (Cons, YoY0
- Revenue up 11.5% at Rs 538 crore versus Rs 482 crore.
- EBITDA up 35.3% at Rs 51.6 crore versus Rs 38.1 crore.
- EBITDA margin up 170 bps at 9.6% versus 7.9%.
- Net profit up 16.6% at Rs 43.6 crore versus Rs 37.3 crore.
Ventive Hospitality Q3 Highlights (Cons, YoY)
- Revenue up 28.4% at Rs 685 crore versus Rs 534 crore.
- EBITDA up 26.9% at Rs 311 crore versus Rs 245 crore.
- EBITDA margin down 50 bps at 45.4% versus 45.9%.
- Net profit up ~427% at Rs 117 crore versus Rs 22.2 crore.
Adani Ports & SEZ Business Update
- Cargo handled at 44.8 MMT in Jan 2026, up 12% YoY.
- Growth led by containers, liquids and dry cargo.
- Cargo handled YTD Jan 2026 at 412.2 MMT, up 18% YoY.
Maruti Suzuki Business Update
- Total production in Jan 2026 at 2.26 lakh units versus 2.06 lakh in Jan 2025.
- Passenger vehicle production rose to 2.21 lakh units from 2.01 lakh YoY.
- Light commercial vehicle production declined to 4,169 units from 4,867 YoY.
- If you’d like, I can also compress this into a tighter ticker-style roundup for broadcast or terminal use.
ALSO READ: India-US Trade Deal Live: Stock Markets, Rupee Poised For Rally After Tariff Cut
Stocks In News
- IRB Infra: The company completes transfer of project to arm; receives Rs 513 crore. Will use this to cut debt by Rs. 700 crore.
- Power Grid Corporation of India: The company’s arm commissions 4.5 GW transmission scheme.
- Tata Chemicals: The company will invest Rs 515 crore to set up an IVSD manufacturing facility.
- NTPC Green: The company inks MOU with Assago Industries to supply green ammonia, CO2, RE Power & other utilities.
- Pb fintech: The company schedules a board meeting on Feb 5, to consider QIP fund raising for inorganic investments.
- Sundaram Finance: The company revises the limit for raising funds from Rs. 13,000 crore to Rs. 16,000 crore.
- Aditya Birla Lifestyle: The company approves issuance of NCDs up Rs. 500 crore.
- Infosys: The company renews & expands multi-year partnership with Madison Square Garden.
- Ujaas Energy: The company shares the sad news of their Chairman & Managing Director, Mr. Shyamsundar Mundra.
- Unichem: USFDA inspection at the company’s Kolhapur API facility results in 5 observations.
- BPCL: The company clarifies that crude oil supply agreement with Trafigura is in normal course of business. It shall not be considered the cause of price movement.
- eMudhra: The company informs merger of US based AI Cyber Forge Inc, with eMudhra Inc.
- Aditya Infotech: The company incorporates subsidiary in Taiwan for R&D activities.
- BLS International: The company acquires 95% in MVA International which does visa & passport processing for 1000 BHD.
- Brightcom Group: The company approves cancellation of preferential allotments to LGOF Global Opportunities & Connecor Investment Enterprise.
- Tata Power: The company commissions 198 MW group captive project in Tamil Nadu.
- Interarch Building Solutions: The company approves commencement of Phase 2 of Andhra plant with 24,000 MT capacity addition.
- Jash Industries: NCLT approves the merger of Shivpad Engineers with Jash Engineering.
- Zen Technologies: The company appoints Mr. Hari Chalat as CFO & re-appoints Mr. Ashok Atluri as Chairman & MD for 3 years.
- ACME Solar: The company’s arm receives certificate of commissioning for 16 MW out of it 100 MW wind power project.
- Tata Steel: The company infuses Rs 5754 crore in its foreign arm, T Steel Holdings.
- Oil India: The company clarifies that news of seismic studies of blocks acquisition is general in nature & not linked to price variation.
- Brigade Hotel Ventures: The company signs MOU with Tamil Nade govt to invest Rs 1100 crore in Chennai, to add 500+ keys in 3 Chennai hotels.
- Rites: The company resigns MOU with SAIL for loco leasing & maintenance services.
- CreditAccess Grameen: The company clarifies that no decisions have been taken regarding any potential sale of shares by promoters.
- Shriram Piston: The company approves raising Rs 1,000 crore through NCDs.
- Interarch Building Solutions: The company will raise Rs 100 crore through QIP.
- Artemis Medicare: The company approves raising funds upto Rs 700 crore.
- Orient Green Power: The company’s arm approves an expansion plan by entering into an EPC contract with Renfra Energy India worth Rs 85 crore.
- Coal India: The company informs that the upgraded pay scale of executives has a financial impact of Rs 3400 crores.
- Bharti Airtel: The company appoints Mr. Shashwat Sharma as Managing Director & CEO for a period of 5 years.
Bulk & Block Deals
- Clean Science & Tech: Amansa Holding bought 11.8 lakh shares at Rs.791.84 apiece.
- India Home: Lloyds Enterprises bought 75 lakh shares at Rs.13.3 apiece.
ALSO READ: India Mulls 49% FDI Limit In PSU Banks To Fund Growth
Trading Tweaks
- Vaibhav Global: Interim Dividend – Rs 1.50 per share
- Symphony: Interim Dividend – Rs 2 per share
- GPT Infraprojects: Interim Dividend – Rs 0.75 per share
- Garden Reach Shipbuilders & Engineers: Interim Dividend – Rs 7.15 per share
- Cochin Shipyard: Interim Dividend – Rs 3.50 per share
- Studds Accessories: 3 months lock-in of 1 million shares ends, 3% of total of outstanding equity.
- Akums Drugs and Pharma: 1.5 years and beyond lock-in on 31.5 million shares, 20% of total of outstanding equity.
- List of securities shortlisted in Short – Term ASM Framework Stage: Mtar Technologies, Sterlite Technologies
- List of securities to be excluded from ASM Framework: Baazar Style Retail
F&O Cues
- Nifty Feb futures is up 1.19% to 25,149.60 at a premium of 62 points.
- Nifty Options 3rd Feb Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 24,000
- Securities in ban period: Sammaan Capital
ALSO READ: India Auto Sales Surge In January As Maruti, Tata, Mahindra, Hyundai Post Strong Growth
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