Closing Bell| Sensex falls 1.9%, Nifty ends below 22,125; BSE MidCap, SmallCap lose over 2.2%

In the last week, the benchmark indices witnessed a sharp correction, with the Nifty ends nearly 3 percent lower while the Sensex was down over 2000 points. Among sectors, all the major sectoral indices registered profit booking at higher levels, with the Capital Market and IT indices correcting sharply. The Capital Market index was down by 9.28 percent, while the IT index declined by 7.90 percent. During the week, the market slipped below 22,500/74500, and post-breakdown selling pressure intensified. Technically, it has formed a bearish candle on weekly charts and is holding a lower top formation on daily and intraday charts, which is largely negative.

We view the current market condition as weak but oversold, hence the strong possibility of a pullback rally from the current levels is not ruled out. For short-term traders, 22,200/73500 would be the key level to watch out. Below this, the market could slip to 22,000-21,800/73000-72500. On the flip side, if the index sustain above 22,200/73500, sentiment could change. Above 22,200/73500, we may see a quick pullback rally up to 22300/74000, with further upside potential that could lift the market up to 22500/74500

For Bank Nifty, as long as it is trading below 48,500, weak sentiment is likely to continue on the downside, with immediate support zones at 48,000 and 47,500 However, if it moves above 48,500, it could bounce back to 49,250-49,500 or the 50-day SMA (Simple Moving Average).

Rupee traded lower by 0.28rs at 87.50, pressured by weakness in secondary markets and rising global trade tensions due to escalating tariff wars. FII outflows continued as investors preferred to hold cash rather than invest in Indian markets.

While RBI's rupee swaps provided some temporary relief, persistent outflows kept the rupee under pressure. With 87.50 being tested again, a potential move towards 88.00 cannot be ruled out, depending on global risk sentiment and dollar strength.

Domestic investors went into a panic mode and offloaded equities at will, as weak global market cues sparked a major selloff causing benchmark indices to crash nearly 2%. There is a lot of discomfort amongst the investors over Trump announcing imposition of import levies on several nations. Also concerns over slowing economic growth, earnings coming in below expectations, and lingering foreign investor selling have been driving bearish trends at regular intervals.

Benchmarks have been pulled by worries about Trump's trade proposals, slowing economic growth, waning earnings momentum, and persistent selling by foreign investors. Investors are keeping a careful eye on the December quarter GDP data, which is scheduled to be released on Friday after market hours. US President Donald Trump announced that 25% charges on imports from Canada and Mexico will go into effect on March 4 and that goods from China would be subject to an extra 10% duty, investor mood was dampened by growing concerns of a worsening trade war. Nvidia's earnings release caused investors to react unfavorably, further depressing technology stocks. The Silicon Valley company's lower-than-expected quarterly gross margin prediction eclipsed an optimistic revenue outlook, causing Nvidia to plummet 8.5% overnight. Indian shares valued at Rs 1,13,721 crore on a net basis have been sold by foreign portfolio investors thus far in 2025.

Nifty experienced a significant decline on Friday, shedding over 400 points after a consolidation breakdown. The RSI remains bearish but has entered the oversold zone. In the near term, Nifty is expected to find support around 21,800-22,000. A sustained move above 21,800 could lead to a significant recovery, while failure to hold this level may trigger another sharp decline.

The national market experienced a sharp decline amid heightened bearish sentiment largely influenced by weak global cues. The decline was largely triggered on fear of the implementation of 25% tariff on U.S. imports from Canada and Mexico, set to take effect next week, along with an additional 10% tariff on Chinese goods. Adding to market jitters, the potential imposition of tariffs on the European Union has further fuelled uncertainty. As investors navigate this volatility, all eyes are on the domestic Q3 GDP data, which could provide vital insights into the economic recovery trajectory and influence market direction.

#1 In their analyst meet, Crompton management discussed new launches & innovation ahead of summer, especially in fans vertical

#2 Premium fans are growing at 2.5x of non-premium

#3 This vertical is now ~25% premium vs 12-15%, 5 years ago

#4 Company has taken 4-5 tranches of price rises 1.0-1.5% each in past 5-6 quarters

#5 This summer, management expects double-digit growth in prem & BLDC Fans, & single-digit in mass category

#6 Estimate FY24-27 EPS CAGR at +22%; FY26 PE at 32x

The Sensex was down 1,396.00 points or 1.87 percent at 73,216.43, and the Nifty was down 415.55 points or 1.84 percent at 22,129.50. About 434 shares advanced, 3091 shares declined, and 70 shares unchanged.

The board approved raising of funds through Issue of equity shares to the identified Promoter(s) of the company on preferential and private placement basis by issuing up to 20,00,000 equity shares of Rs 2 each of the company at a price of Rs 112.

#1 Tech is touching entire company, with store, AI emerging as a differentiator

#2 Recent double-digit SSS growth was fueled by innovations

#3 While margin guidance may fall short of some expectations

#4 Remain excited about growth agenda

#5 Management believes this is just the start, margin should follow growth

#1 Company recently unveiled its two cutting-edge platforms, Nucleus & Xtech

#2 Aims at driving energy efficiency & smart tech integration in consumer electricals space

#3 Management highlights that new platforms are very scalable

#4 Much more durable on electronics & more efficient than peers

#5 Company can offer much higher warranty to customers than peers

#6 Price hikes & operating leverage should drive EBITDA margin from 11% in FY25 to 12.2% by FY27F

#7 Leading to a healthy 22% EPS CAGR

#1 HDFC AMC’s stock return has outperformed its peers YTD on back of market share gains in most of its large schemes

#2 In a cyclical downturn, see high downside risks to our AUM & EPS growth estimate; remain cautious

#3 Valuations appears punchy for a muted EPS CAGR of 11% over FY25-27

Solar Industries India and its subsidiary have received export orders worth Rs 2150 crore for Supply of Defence Products, to be

delivered over a period of 6 years.

#1 Jubilant Food management showcases how they capitalise on tech business

#2 From sourcing to supply chain, from network expansion to store efficiency, from app management to delivery to consumer

#3 Like pivot to building platforms to secure higher growth

The National Company Law Tribunal, New Delhi, has approved the Scheme of Arrangement for the amalgamation of Shree Jee Laboratory, JPR Labs, and Jaspack Industries with Mankind Pharma.

The Board has approved the appointment of Gourav Modi as Chief Financial Officer of the company, effective April 1.

Sunil Kumar Arora will retire as Chief Financial Officer of the company, effective March 31.

Anupam Rasayan has signed a Letter of Intent (LOI) with Elementium Materials Inc., a U.S.-based Battery Electrolyte Company, for the supply of chemicals in an advanced electrolyte critical for electric vehicle (EV) batteries.

#1 Crompton launches Nucleus, an advanced BLDC platform

#2 Launches Xtech, an advanced induction motor platform, to strengthen its fans portfolio

#3 Focus remains on expanding premium share in overall revenue mix

#4 Premium fans are growing ~2x faster than the average fan market growth rate

#5 Crompton targets to increase premiumisation share to 40% of overall portfolio

The price of Bitcoin, the world’s largest cryptocurrency, on Friday plunged below USD 80,000 for the first time since November, erasing almost all gains made after US President Donald Trump took office on a pro-crypto agenda. Other cryptocurrencies, including Ethereum, BNB, XRP and Solana, also saw large drops falling between 6.6 percent and 8.6 percent.

The market cap of Bitcoin stood at nearly USD 1,590 billion. Its 24-hour trading volume was USD 64.63B. Bitcoin is down by 5.17 percent in the last 24 hours with a circulating supply of 19.83 million.

The company has launched the TVS King Duramax Plus and TVS King Deluxe Plus three-wheelers in Mexico.

SpiceJet saw its market share drop to 3.2 percent in January, down from 3.3 percent in the previous month.

#1 Post recent 22% fall, Coforge's stock is trading at an attractive 33x FY26 P/E

#2 Led by strong top-line growth, improvement in operating margin & b/s deleveraging

#3 Consistent revenue growth out-performance is likely to continue, given strong order book & consistent execution

#4 Coforge remains high-conviction pick within Indian IT

Airline IndiGo saw its market share climb to 65.2 percent in January, up from 64.4 percent in the previous month.

The company at its meeting held today, i.e., 28th February 2025, has approved for equity investment of Rs 70 crores in NCC Quantum Technologies, a wholly owned subsidiary of the company.

The corporation has received a demand order for Goods and Services Tax, interest, and penalty of Rs 479.88 crore for FY21 from the Deputy Commissioner of State Tax, Mumbai, for the Maharashtra state.

#1 Profit grows 13.2% to Rs 237.3 crore Vs Rs 209.6 crore, YoY

#2 Revenue jumps 14% to Rs 2,136 crore Vs Rs 1,874.6 crore, YoY

#3 Company recommends dividend of Rs 28 per share, YoY

#1 Profit zooms 31% to Rs 91.3 crore Vs Rs 69.7 crore, YoY

#2 Revenue rises 9.7% to Rs 514.9 crore Vs Rs 469.2 crore, YoY

#3 Sanofi recommends final dividend of Rs 117 per share, YoY

#1 Coal India introduces a "Singrauli Punarasthapan charge" of Rs 300/t across all mines of Northern Coalfields w.e.f May 1, 2025

#2 As per company, this will drive expected additional revenue of Rs 38.8 billion

#3 See this is as a positive development, as levy is 2.5% of FY26 revenue

#4 Implies 8% upside risk to FY26 earnings estimate

#5 Key to watch would be if company is able to take price hikes over

#6 Company currently forecasting 2% growth in FSA realisations

The share price broke two-day winning streak.

International Gemmological Institute India, Ansal Properties & Infrastructure, Foseco India, and Rana Sugars will announce their earnings scorecard on February 28.

The Sensex was down 1,009.10 points or 1.35 percent at 73,603.33, and the Nifty was down 307.20 points or 1.36 percent at 22,237.85. About 466 shares advanced, 2951 shares declined, and 95 shares unchanged.

Indian rupee is trading lower by 21 paise at 87.40 per dollar versus previous close of 87.19.

A global selloff in equities worsened in Asia, while the dollar strengthened and Treasury yields edged lower as investors shunned risky bets with President Donald Trump ratcheting up tariffs.

Zen Technologies has secured a Patent Grant for its Automated Hard Kill Firearm Mounting System. This cutting-edge innovative system is designed to enhance defence capabilities through autonomous target detection and engagement, significantly reducing response times and improving operational efficiency in combat scenarios.

Angel One received certain data leakage post’ alerts via email from its dark-web monitoring partner on February 27, 2025, informing of unauthorised access of clients’ data.

After analysing the post, it was ascertained that some of Angel One’s AWS resources were compromised.

The company has received a letter of acceptance for a project worth Rs 135.66 crore from Central Railway. The project involves the design, supply, erection, testing, and commissioning of 132/55 KV traction substations, sectioning posts (SPs), and sub-sectioning posts (SSPs) in a 2 x 25 KV traction system (Scott-connected transformer) for the Bhusaval-Khandwa section of Central Railway, to meet the 3000 MT loading target on an EPC mode.

The company and its wholly owned subsidiary, Chemplast Cuddalore Vinyls (CCVL), have entered into a Power Purchase Agreement with JSW Green Energy Nine, the special purpose vehicle incorporated by JSW Neo Energy for setting up renewable power plants in Tamil Nadu.

These plants will have a solar capacity of 64.9 MW AC (92.80 MW) and wind capacity of 20 MW.

Additionally, Chemplast Sanmar and subsidiary CCVL agreed to acquire up to 18.46% equity shares and 7.81%, respectively, in JSW Green Energy Nine, for Rs 30.43 crore.

The Sensex was down 979.70 points or 1.31 percent at 73,632.73, and the Nifty was down 298.90 points or 1.33 percent at 22,246.15. About 537 shares advanced, 2786 shares declined, and 102 shares unchanged.

The South Eastern Railways, Kolkata, has issued a letter of acceptance for a project worth Rs 325.33 crore to the Kernex-MRT consortium. The project involves the supply, installation, testing, and commissioning of Kavach on GO and GO routes (688RKM), including associated works on the Kharagpur and Chakradharpur divisions of South Eastern Railway.

#1 Coal India arm, Northern Coalfields, announces levy of ‘Singrauli Punarasthapan Charge’ of Rs 300/t on its entire volume from May 1, 2025

#2 Cash inflow is likely to be widely used to fund the upcoming land acquisition rehabilitation programme at one of the mining areas in Singrauli over next few years

#3 This levy would lead to a surge in Coal India FY26/27 EBITDA by 9-10%

#4 Estimate capex of Rs 170 bn in each of FY26/27 mostly incorporates upcoming capex on rehabilitation project of the Singrauli area

#5 Assuming 5x EV/EBITDA multiple, the fair value can increase by Rs 34

The company has signed an MoU with the Chamber of Indian Micro, Small, and Medium Enterprises (CIMSME) to significantly boost the adoption of solar energy across India. In support of the PM Surya Ghar Muft Bijli Yojana, they aim to install 1 lakh solar rooftop systems in homes by 2026.

The US Food and Drug Administration (US FDA) has issued a warning letter to Granules’ Gagillapur facility based on its inspection conducted in August 2024. The FDA has not indicated any further escalation.

Granules stated that the manufacturing and distribution of existing products from the Gagillapur facility continue unaffected. However, the warning letter may temporarily impact the FDA review of pending product submissions from this site until the issue is resolved.

Vodafone Idea (Vi) has switched on its 5G network in Mumbai for a trial run, a significant step towards its planned commercial launch. The company plans a full-fledged rollout around Holi, which is on March 14.

The trial phase allows select users to experience unlimited 5G data at no extra cost. Customers who receive an SMS from Vi Care or see a 5G signal on their devices may be eligible.

The Board has approved the sub-division or split of equity shares of the company from a face value of Rs 10 each to Rs 2 each, subject to shareholder approval.

#1 Coal India introduces a "Singrauli Punarasthapan charge" of Rs 300/t across all mines of Northern Coalfields w.e.f May 1, 2025

#2 As per company, this will drive expected additional revenue of Rs 38.8 billion

#3 See this is as a positive development, as levy is 2.5% of FY26 revenue

#4 Implies 8% upside risk to FY26 earnings estimate

#5 Key to watch would be if company is able to take price hikes over

#6 Company currently forecasting 2% growth in FSA realisations

The Sensex was down 1,009.73 points or 1.35 percent at 73,602.70, and the Nifty was down 312.35 points or 1.39 percent at 22,232.70. About 519 shares advanced, 2652 shares declined, and 106 shares unchanged.

The company has received an additional contract worth Rs 273.5 crore from Greenko KA01 IREP. The orders involve the engineering, manufacturing, procurement, supply, installation, and testing of electromechanical equipment for an additional unit of 320 MW at the Saundatti PSP. In April 2022, GE Power had won a contract worth Rs 863.4 crore from Greenko KA01 IREP.

International Gemmological Institute India, Ansal Properties & Infrastructure, Foseco India, and Rana Sugars will announce their earnings scorecard on February 28.

The company's solar manufacturing subsidiary, TP Solar, has received a Rs 632 crore contract from the Solar Energy Corporation of India (SECI) for the supply of 292.5 MWp DCR (Domestic Content Requirement) solar modules.

US-based Children’s Minnesota has selected HCL Technologies to improve its operational efficiency, streamline service delivery, and enhance patient care through AI.

Naveen Kukreja has decided to step away from running Paisabazaar operationally and will take on the role of Group President at PB Fintech. He will also advise on the future strategy for Paisabazaar.

Paisabazaar Marketing and Consulting has appointed Santosh Agarwal as Chief Executive Officer and Neeraj Tripathi as Chief Financial Officer, effective March 1.

Vivek Audichya has resigned from the position of Chief Financial Officer of Paisabazaar, effective February 28. Additionally, Policybazaar Insurance Brokers has appointed Vivek Audichya as Chief Financial Officer, effective April 1, following the resignation of Ashutosh Mishra as Chief Financial Officer, effective March 31.

The rout in Bitcoin worsened on Thursday, sending it down 25% from the all-time high it set less than six weeks ago as traders reverse bets that followed the election of US President Donald Trump.

The coin was down 2.8% at $81,919.70 in Singapore, after hitting its lowest level since November 11. The move was part of a broad decline in cryptocurrencies: Ether, Solana, and XRP have also plummeted in recent days.

The share price extended the fall on fifth consecutive session.