Asian markets are mostly trading higher on Monday, as investors' sentiments improved after signs of easing US-China tensions following a weekend of high-level trade talks.

US stock market ended lower on Friday due to investors weighing President Donald Trump's comment on Chinese tariff ahead of weekend trade talks.

Here's a table showing how US stocks performed on Friday:

Source: Equitymaster

At present, the BSE Sensex is trading 2,300 points higher, and the NSE Nifty is trading 700 points higher.

Axis Bank, Bajaj Finance, Adani Ports among the top gainers today

Sun Pharma, on the other hand, is among the top losers today.

The BSE MidCap index ended 2.5% higher, and the BSE SmallCap index ended 3.2% higher.

Sectoral indices are trading positively today, with stocks in the power sector and realty sector witnessing the most buying.
 

Adani Power Wins UP Power Deal

Adani Power shares are likely to gain after winning the power supply order from Uttar Pradesh Power Corporation Limited (UPPCL)

The company has received a 25-year contract from UPPCL to supply 1500 MW of power to Uttar Pradesh from a new thermal power project.

Adani power will supply 1500 MW of power at Rs 5.8 per unit. The power will come from a new ultra-supercritical thermal power plant to be set up in the state under 25-year contract.

Adani Power has secured its second major power supply agreement in a year. Earlier in September 2024, it received a deal with Maharashtra State Electricity Distribution Company (MSEDCL), which has now been converted into a Power Supply Agreement.

The Company's net profit fell 4% at Rs 26.4 billion (bn) for Q4 compared to Rs 27.4 bn in the same period last year.

Also, revenue from operations surged 6.5% to Rs 142.4 bn.

It's share price dropped 26% in the last 9 months and market capitalisation of the company is Rs 1980.5 bn.

GAIL invests in Karnatak's renewable energy

GAIL has signed a memorandum of understanding (MoU) with Karnatak government to set up renewable energy projects with a capacity of up to 1 GW in the state.

However, the company does not specify the project's financial details.

GAI aims to achieve net zero carbon emissions by 2035 and is investing in renewable energy projects to reach this goal.

Karnatak Minister welcomed GAIL's investment stating that the state offers a supportive ecosystem for clean energy projects due to its policies, skilled workforce and land availability.

GAIL is India's leading natural gas company, operating over 11,500 km of gas pipelines and various other energy facilities. It has partnerships and subsidiaries in India and abroad, including in LNG and petrochemicals.
 

Bank Of India's Q4 Net Profit Surges

Bank of India reported a significant increase of 82.5% year-on-year increase in net profit Q4FY25, reaching Rs 262.6 bn, driven by non-interest income.

For FY25, Bank of India's net profit grows 45.9% to Rs 92.2 bn.

Also, the company's board of directors have recommended dividend of Rs 4.05 per share for FY25, to shareholders approval.

Net Interest Income rose 2.1% year-over-year in Q4FY25 to Rs 60.6 bn.

Bank of India's net interest margin (NIM) from domestic operations dropped to 2.61% in Q4FY25 from 2.9% in the same quarter last year.

The bank's managing director expects margins to stay under pressure due to anticipated rate cuts. With RBI already cutting rates by 50 bps and another 50 bps cuts is expected, lending rates will adjust faster than deposits rates, impacting margins by around 20 bps.

Non-interest income nearly doubled to Rs 34.3 bn in Q4FY25 up from 96% to Rs 17.5 bn in Q4FY24.

Non-performing Assets (NPA) provision decreased to Rs 13.5 bn in Q4FY25 from Rs 20.4 bn in Q4FY25.

For FY26, bank expects credit growth of 12-13%. It has also sanctioned corporate loan pipeline of Rs 6000 bn.

Deposits grew 10.7% year-over-year to Rs 8160 bn. For FY26, the bank expects deposit growth of 11-12%.

Asset quality improved with gross NPA's declining to 3.3% from 4.9% and net NPA falling to 0.8% from 1.2%.

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