Indices at previous closing
Nifty50: 17,276 ▼28 (-0.1%)
Sensex: 57,832 ▼59 (-0.1%)
Nifty Bank: 37,599 ▲67 (+0.1%)
For more updates on F&O, click here.
Ashok Leyland bullish on Electric Mobility
According to reports, this Chennai-based auto major is going to set up a new manufacturing facility in India for the manufacturing of electric vehicles (EVs). It is also planning to expand its EV portfolio and develop new engines.
The company has already announced an investment of $200 million (around ₹1,500 crore) investment through its UK-based arm Switch Mobility for electric mobility. Additionally, the company also plans to invest ₹500 crore to develop powertrains based on alternative fuels for its commercial vehicles range. Shares of Ashok Leyland closed 0.4% lower on Friday.
Coal India highlights the need for a price hike
The management of world’s largest coal producer has said that some of the company’s units are finding it difficult to survive without a price hike. And without a hike, the production of coal may fall.
Coal India is facing cost pressure from the impending rise in salaries and higher price of diesel, which is used to power the mining equipment. But raising coal prices that are part of long-term supply agreements requires government backing, as it could impact the country’s inflation and broader economy. Meanwhile, shares of Coal India rose 3.5% last week.
IOC backs the new hydrogen policy
The government’s new policy will help to reduce the cost of green hydrogen production by 40% to 50%, according to India’s largest oil company. The government recently announced that the surcharge and inter-state transmission charges will be waived on renewable energy used for production of green hydrogen.
Projects commissioned before 30 June 2025 are eligible for this benefit. IOC, which uses hydrogen as a raw material, has said that it will set up green hydrogen plants by 2024 to replace carbon emitting units. Shares of IOC were down 0.2% on Friday.
Sectoral indices (February 18)
| Top gainers | Top losers |
| Nifty Financial Services ▲ 0.2% | Nifty Realty ▼ 1.2% |
| Nifty Bank ▲ 0.1% | Nifty Oil and Gas ▼ 1.0% |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.5% |
| Nikkei 225 (Japan) | ▼ 0.7% |
| Hang Seng (Hong Kong) | ▼ 0.6% |
| SSE Composite (China) | ▼ 0.3% |
| Dow Jones (US) (February 18) | ▼ 0.6% |
| NYSE (US) (February 18) | ▼ 0.6% |
| Nasdaq (US) (February 18) | ▼ 1.2% |
| S&P 500 (US) (February 18) | ▼ 0.7% |
Fact of the day
Global fintech funding more than doubled to hit a record of $132 billion in 2021.
Source: CB Insights
We'd love your thoughts on this morning update.
If you haven't already, open your Upstox account to get IPO-ready today! Click here to sign up.
To catch our latest educational videos, join our Telegram channel here.
Disclosures and Disclaimer
Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.