Indian markets are set to open negatively on Monday, February 3 on weak global market cues.
At 8:01 AM, the GIFT NIFTY futures were trading at 23,368.50, down 199 points, or 0.84%. This implies that the NIFTY50 index will open 124 points lower.
The global markets traded in the red as the US officially launched a tariff war on nations. The US markets closed lower on Friday after touching record-high levels on Dow Jones and Nasdaq.
Taking the cues from the US, the Asian markets traded in the deep red across the board on Monday morning as Japan’s Nikkei fell 1000 points, Hong Kong’s Hang Seng Index fell 340 points, and Korea’s Kospi index fell 71 points or 2.8% lower.
China’s Manufacturing PMI stood at 50.1 as against the market expectations of 50.5, indicating slow growth in the already ailing manufacturing sector of the world’s second-largest economy.
Earnings today: Aditya Birla Capital Ltd, Castrol India, Bombay Dyeing & Manufacturing Co. Ltd, Barbeque-Nation Hospitality Ltd, Bajaj Steel Industries, Divi's Laboratories Ltd, Dredging Corp of India Ltd, Garden Reach Shipbuilders & Engineers Ltd (GRSE), KEC International Ltd, Poly Medicure Ltd, Power Grid Corp of India Ltd, Premier Energies Ltd, Religare Enterprises Ltd, Tata Chemicals Ltd, and Thomas Cook India Ltd, are among other companies which will release December quarter results on Monday.
Here are the stocks to watch on Monday
Lupin: With zero observations, the US FDA has completed a pre-approval inspection of Lupins’ Edaravone Oral Suspension at its manufacturing facility in Somerset, New Jersey. The inspection was carried out from January 28 to February 1, 2025.
Coal India: Coal India Ltd (CIL) reported its first monthly production de-growth in the current fiscal with the miner’s output reducing by 0.8% year-on-year in January. The company produced 77.8 million tonnes (MT) of coal in January as compared to 78.4 MT in the year-ago month. In December 2024, Coal India’s production increased by 5.25% year-on-year.
Eicher Motors: The auto maker’s total motorcycle sales grew 20% to 91,132 units in January as against 76,187 units same period last year. Sales volumes for Royal Enfield have grown by 6% to 7.27 lakh units, compared to 6.85 lakh units sold during the same period last year. Its international business sales grew 79% at 10,080 units against the year ago figure.
Hero MotorCorp: The world’s largest motorcycle and scooter manufacturer sold 442,873 units in January as against 433,598 units same period last year. Hero MotorCorp in January exported 30,495 units as against 12,664 units same period last year. Domestically, the company has sold 412,378 units during reporting period.
Aarti Industries: The chemical manufacturer reported a 63% year-on-year decline in net profit at ₹46 crore as compared to ₹124 crore in the year-ago period. However, Aarti Industries’ revenue for the quarter increased by 6% from last year to ₹1,840 crore. The company had reported ₹1,732 crore revenue in the corresponding period of last year.
Anant Raj: The real estate and data centre infrastructure company’s net profit stood at ₹110 crore in Q3 FY25, a growth of 55% year-on-year. Anant Raj’s revenue increased 36.2% from last year to ₹534 crore. The base quarter sales stood at ₹392 crore.
MOIL: MOIL produced 1.6 lakh tonnes of manganese ore, while sales stood at 1.57 lakh tonnes, marking a 17% increase over the corresponding period last year. Exploratory core drilling for the month reached 11,099 metres, a 10% rise over the previous year.
NMDC: NMDC Steel’s iron ore production in January increased more than 12% at 5.10 million tonnes compared to 4.54 MT a year earlier while sales declined under 2% to 4.48 MT (4.56 MT).
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