Asian markets traded lower Tuesday as President Donald Trump's tariff threats over Greenland stoked concerns of revived trade tensions and weighed on investors' risk appetite.

US stock market was closed for a holiday on Monday, January 19, on account of Martin Luter King, Jr. Day. Stock futures pointed to a negative session on Wall Street on Tuesday.

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

Source: Equitymaster

At present, the BSE Sensex is trading 52 points lower, and the NSE Nifty is trading 20 points lower.

GMDC and Aether Industries are among the top gainers today.

AB Lifestyle and Godrej Agrovet, on the other hand, are among the top losers today.

The BSE Midcap index and the BSE Smallcap index are trading 0.3% lower.

Sectoral indices are trading mixed today, with stocks in the metal sector and the PSU Bank sector witnessing buying. Meanwhile, stocks in realty sector and the IT sector witnessed selling pressure.
 

LTIMindtree Q3 Results

IT services company LTIMindtree reported an 11% year-on-year decline in consolidated net profit for the December quarter, with profit after tax attributable to shareholders coming in at Rs 9.71 bn, compared to Rs 10.85 bn in the same period last year. The reported performance was impacted by a one-time charge related to the implementation of the new labour codes.

Excluding this one-off impact, net profit for the quarter stood at Rs 14.01 bn, marking a 29% YoY growth and a 1.5% QoQ increase. The company incurred a one-time cost of Rs 5.90 bn towards the labour code implementation.

Despite the profit hit, operating performance showed improvement, with margins expanding by 20 basis points sequentially to 16.1% in Q3. On an adjusted basis, excluding the labour code impact, LTIMindtree's net profit would have risen 29% YoY to Rs 14.01 bn.

As of December 31, the company's total headcount stood at 87,958 employees, following a net addition of 1,511 employees during the quarter. Trailing twelve-month attrition improved to 13.8% in Q3 from 14.2% in the previous quarter, indicating stabilising workforce trends.
 

UPL's Subsidiary Files for IPO

Agricultural solutions company Advanta Enterprises has filed draft papers with capital markets regulator SEBI to raise funds through an initial public offering (IPO). The proposed issue will be entirely an Offer for Sale (OFS) of 3.61 crore equity shares, with no fresh issue component.

According to the draft red herring prospectus (DRHP), the shares will be sold by the promoter UPL Ltd. along with investor shareholders Melwood Holdings II Pte Ltd. and KIA EBT Scheme 2. UPL plans to divest 2.8 crore shares through the IPO. Currently, UPL holds a little over 64% stake in Advanta Enterprises, while UPL Corporation owns close to 14%.

As the IPO is fully an OFS, Advanta Enterprises will not receive any proceeds from the issue, with the entire amount going to the selling shareholders.

Advanta Enterprises operates as a global agricultural solutions company, focusing on hybrid seeds and post-harvest products. The company develops, produces, and markets locally adapted hybrid seeds aimed at improving crop yields and enhancing farm-level economics.
 

HPCL Inks Long-Term LNG Agreement

State-owned Hindustan Petroleum Corporation Ltd. (HPCL) has entered into a 10-year Sale Purchase Agreement (SPA) with Abu Dhabi Gas Liquefaction Company (ALNG) for the procurement of liquefied natural gas (LNG).

ALNG is a subsidiary of ADNOC Gas, a large integrated gas processing and marketing company with operations spanning the entire gas value chain.

Under the agreement, HPCL will source 5 million tonnes per annum (MTPA) of LNG, with deliveries to be made at the Chhara regasification terminal in Gujarat. The terminal was dedicated to the nation by the Prime Minister in September last year, HPCL said in a late Monday statement.

The LNG supplies secured under the SPA will be used to meet HPCL's requirements across its refineries, City Gas Distribution (CGD) network, and gas demand from key sectors such as fertilizers, power, and petrochemicals.

The long-term partnership is expected to strengthen HPCL's position as a dependable natural gas supplier, while also complementing its existing portfolio of petroleum products.

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