Nifty, Sensex Overcome Local and Global Pressures and Rally – Tuesday Market Report
Moneylife Digital Team 04 February 2025
On Tuesday, 2511 stocks advanced, 1406 declined and 156 remained unchanged on Bombay Stock Exchange with advance decline ratio of 1.79 indicating a positive closing in the broader market. The trend of the major indices on Tuesday’s trading is given in the table below. 
 
 
On NSE, 34 securities advanced and closed at a new 52-week high whereas 48 securities sank to close at their new 52-week lows.  In sectoral indices, Nifty PSU Bank, Nifty Infrastructure and Nifty Energy were among the biggest gainers. Nifty FMCG was the only gainer. 
 
RattanIndia Enterprises (REL) (-3.23%) acquired 100% stake of Cocoblu Quick Commerce. Consequent to which, Cocoblu Quick Commerce become a wholly owned subsidiary company of REL. Cocoblu Quick Commerce intends to start quick commerce business through e-commerce platforms.  
 
Larsen & Toubro’s (L&T) (+4.56%) minerals & metals business vertical secured an order from a client in the Middle East & North Africa (MENA) region, to set up a pellet plant and a direct reduction of iron (DRI) plant. The estimated project cost is between range of Rs5000 crore to Rs10000 crore. 
 
Indus Towers (+1.94%) entered into an agreement for acquisition of 26% of the equity share capital, on a fully diluted basis, in Amplus Tungabhadra, a special purpose vehicle (SPV), for the purpose of owning and operating a captive power plant, in accordance with the regulatory requirement for captive power consumption under electricity laws. Cost of acquisition is around Rs27 crore. 
 
Godrej Properties (+3.02%) acquired 100% equity shares of Pearlshine Home Developers (PHDPL) from its existing shareholders. Pursuant to the said acquisition, PHDPL has become the wholly-owned subsidiary of the company. PHDPL will undertake the real estate development activities.
 
Swan Energy’s (-1.24%) subsidiary -- Agneyastra Innovations has received a purchase order / letter of acceptance from Agneyastra Technion amounting to around Rs111 crore for supply installation and commissioning of AI based comprehensive infra-secure items.
 
Race Eco Chain (-2.36%) and Ganesha Ecosphere signed a joint venture (JV) agreement from Ganesha Recycling Chain, which aims fill the raising demand for rPET Flakes by setting up several washing lines across India to produce quality PET flakes. 
 
CreditAccess Grameen (-1.43%) secured approval for a $50 million commitment from the International Finance Corporation (IFC). This transaction is a testament to CreditAccess Grameen’s ongoing efforts to strengthen its asset liability management (ALM) position given flexible repayment structures and maintaining geographical diversification to hedge against market volatility.
 
Earnings
NLC India (+7.76%) reported around three-fold jump in its net profit at Rs696.03 crore for the quarter ended 31 December 2024, as compared to Rs254.10 crore for the same quarter in the previous year. Moreover, total income of the company increased by 50.73% at Rs4897.88 crore for Q3FY25 as compared to Rs3249.39 crore for the corresponding quarter previous year.
 
KEC International (+2.31%) reported 33.75% rise in its net profit at Rs129.56 crore for the quarter ended 31 December 2024, as compared to Rs96.87 crore for the same quarter in the previous year. Total income of the company increased by 6.31% at R 5350.29 crore for Q3FY25 as compared to Rs5032.70 crore for the corresponding quarter previous year. 
 
Power Grid Corporation of India (+0.65%) reported 4.14% decline in its net profit at Rs3861.63 crore for the quarter ended 31 December 2024, as compared to Rs4028.25 crore for the same quarter in the previous year. Total income of the company decreased marginally by 0.65% at Rs11743.06 crore for Q3FY25 as compared to Rs11819.70 crore for the corresponding quarter previous year.
 
Aditya Birla Capital (-2.87%) reported 3.77% decline in its net profit at Rs708.00 crore for the quarter ended 31 December 2024, as compared to Rs735.76 crore for the same quarter in the previous year. However, total income of the company increased by 9.36% at Rs9403.51 crore for Q3FY25 as compared to Rs8598.94 crore for the corresponding quarter previous year.
 
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
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