Asian stocks rose as traders navigated their way through a US-China trade war and earnings from Wall Street’s big tech companies. Chinese markets are set to reopen.Shares in Australia and Japan rose along with stock futures for Hong Kong.US stocks closed higher on Tuesday, led by Big Tech, as investors assessed China’s instant retaliation to US President Donald Trump’s additional tariffs and the potential risks of a trade war.Here’s a table showing how US stocks performed on Tuesday:
Source: EquitymasterAt present, the BSE Sensex is trading 15 points higher and NSE Nifty is trading 28 points higher.Coal India, Hindalco, and ONGC are among the top gainers today.Trent, HUL, and Britannia on other hand are among the top losers today.The BSE Midcap index is trading 0.7% higher and the BSE Smallcap index are trading 0.9% higher.Barring the FMCG sector and consumer durables, all other sectoral indices are trading on a positive note today with stocks in the energy sector and power sector witnessing buying.The rupee is trading at Rs 87.14 against the US dollar.
RVNL’s Project WinRail Vikas Nigam Ltd (RVNL) shares will be in focus on Wednesday, 5 February, after the company received a letter of acceptance from East Coast Railway for a Rs 4 bn contract under the Koraput-Singapur Road Doubling Project.The project involves the execution of 27 major bridges, including 22 major bridges and five road-over bridges (ROBs), along with earthworks for the formation of approaches, protection works, and other miscellaneous tasks between Tikiri and Bhalumaska stations.Rail Vikas Nigam Limited is an Indian public sector undertaking which works as the construction arm of the Ministry of Railways for project implementation and transportation infrastructure development.It was incorporated in 2003 to meet the country’s surging infrastructural requirements and to implement projects on a fast-track basis.
Tata Power Q3 ResultsTata Power, one of India’s largest integrated power companies, announced its December quarter results on 4 February, reporting a 10.35% rise in consolidated net profit to Rs 11.88 billion (bn), compared to Rs 10.76 bn in the same period last year. Sequentially, net profit improved by 8.6% from Rs 10.93 bn in the previous quarter.Revenue from operations for the quarter stood at Rs 153.91 bn, reflecting a 5% year-on-year (YoY) increase from Rs 146.51 bn in the corresponding quarter last year. Consolidated EBITDA rose 7% to Rs 34.81 bn, supported by strong contributions and operational efficiency across businesses.For the 9MFY25 period, Tata Power reported revenue of Rs 471.74 bn and a net profit of Rs 39.09 bn. EBITDA for the period reached an all-time high of Rs 106.39 bn, as per the company’s earnings filing.As of 31 December 2024, Tata Power’s operational capacity in the clean and green segment stands at 6.7 GW, generating over 11,700 MUs of renewable power. With an additional 10 GW of projects under execution, the company aims to expand its total clean energy capacity to 16.7 GW.The company is involved in everything-generating electricity, transmitting it across the country, distributing it to homes and businesses, and even trading power.Its generation segment comprises of generation of power from hydroelectric sources and thermal sources (coal, gas and oil) from plants owned and operated under lease arrangement and related ancillary services.
Titan Q3 Revenue Jumps 25%Titan Company reported a 25.2% year-on-year (YoY) increase in revenue from operations, reaching Rs 177.4 bn in Q3FY25. However, net profit remained largely flat at Rs 10.5 bn due to the impact of Customs duty reduction.The jewellery major’s profit before interest, depreciation, and tax (PBIT) rose 5.9% YoY to Rs 18 bn for the December quarter. The company’s flagship jewellery segment saw a 26% jump in standalone revenue to Rs 146.9 bn compared to the same period last year, while its India business grew by 25%.In the watches and wearables segment, Titan recorded an income of Rs 11.3 bn, marking a 15% YoY increase. The domestic market contributed to a 14% rise in revenue for the segment during the same period.Venkatraman added that the company is committed to investing in the growth of all businesses, specifically the emerging ones, to help them scale faster.
Lupin Secures USFDA Nod for HIV DrugLupin Ltd confirmed on Tuesday that it has received tentative approval from the U.S. Food and Drug Administration (USFDA) for its generic version of a combination HIV treatment.The approval covers Darunavir, Cobicistat, Emtricitabine, and Tenofovir Alafenamide tablets, which are therapeutically equivalent to Symtuza tablets (800 mg/150 mg/200 mg/10 mg) by Janssen Products.According to IQVIA MAT December 2024 data, the drug had estimated annual sales of USD 1,374 million in the US. Lupin is the exclusive first-to-file applicant for this product, which will be manufactured at its Nagpur facility in India.The company stated that it had not separately disclosed the approval, as it did not qualify as a material event under SEBI’s listing regulations.More By This Author:Sensex Today Rallies 1,397 Points; Nifty Above 23,700Sensex Today Trades Higher; Nifty Above 23,500Sensex Today Ends 319 Points Lower; Nifty Below 23,400
