In Asia-Pacific, stock markets in Australia, New Zealand and Hong Kong are closed for the Boxing Day holiday on 26 December. Indonesian markets are shut for Christmas holiday today.

US stocks were shut on 25 December for Christmas.

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

Data Source: Equitymaster

At present, the BSE Sensex is trading 375 points higher and NSE Nifty is trading 125 points higher.

SBI, Axis Bank, and Coal India are among the top gainers today.

Cipla, TCS, and Trent hand are among the top losers today.

The BSE Midcap index is trading marginally higher and the BSE Smallcap index is trading 0.4% higher.mon

Barring the realty sector, all other sectoral indices are trading positive today with stocks in the banking sector, auto sector, and Finance sector witnessing buying.

The rupee is trading at Rs 85.24 against the US dollar.

In commodity markets, gold prices are trading 0.4% higher at Rs 76,592 per 10 grams today.
 

NALCO Shares in Focus

Shares of National Aluminium (NALCO) are likely to remain in focus in today's session as the company announced that it has signed a mining lease deed for amalgamated Utkal-D and Utkal E-Coal block to enhance coal production capacity to 4 MTPA.

The said lease deed is valid up to 21st April 2051.

A mining lease deed is a legal document that grants the leaseholder the right to explore, extract, and process minerals or other natural resources from a specific piece of land for a defined period.

It is a binding agreement between the lessor (usually the government or landowner) and the lessee (the mining company or individual).
 

BPCL Starts Work for Andhra Refinery

Bharat Petroleum Corporation Limited (BPCL), in exchange filings, announced two major developments on Tuesday: Commencement of the pre-project activities for a greenfield refinery-cum-petrochemical complex on the East Coast in Andhra Pradesh worth Rs 61 bn and its win of NTPC's reverse auction for 1,200 MW ISTS-connected solar PV projects across India.

BPCL's board approved the commencement of pre-project activities for a greenfield refinery-cum-petrochemical complex on the East Coast in Andhra Pradesh.

The estimated cost of the project is Rs 61 bn.

In a separate announcement, BPCL disclosed its success in NTPC's reverse auction for 1,200 MW ISTS-connected solar PV projects across India.

The company emerged as the lowest bidder for a capacity of 150 MW. The capital outlay of the project is Rs 7.6 bn over two years.

The project also has a projected annual revenue of Rs 100 crore, while producing around 400 million units annually in clean energy.

UltraTech Expands Strategic Acquisitions

The company has entered into an Energy Supply Agreement and a Share Subscription and Shareholders Agreement to acquire a 26% equity stake in Clean Max Sapphire, a company engaged in renewable energy generation and transmission.

The acquisition aims to meet UltraTech's green energy needs, optimize energy costs, and comply with regulatory requirements for captive power consumption.

Additionally, UltraTech has completed the acquisition of a 32.72% stake in India Cements, increasing its total shareholding to 55.49%, making India Cements a subsidiary of UltraTech.
 

Bharat Forge to Invest in Subsidiary

The board of Bharat Forge has approved an investment of Euro 39 million, or Rs 3.5 bn, into Bharat Forge Global Holding (BFGH), a subsidiary that has investments in Europe.

Bharat Forge had recently raised funds through a QIP issue and will be deploying a part of the proceeds into BFGH, to help repay or prepay certain outstanding borrowings. The issue saw significant interest across domestic and qualified institutional investors, with more than ten times the demand for the issue size.

BFGH, incorporated in December last year, is a holding company that invests in manufacturing subsidiaries in Germany, Sweden, and France.

BFGH had a turnover of Euro 5.11 million during CY23.

In November, the forging company was given an in-principle nod to invest Rs 1,122 crore in three subsidiaries - Bharat Forge Global, Bharat Forge America, and Kalyani Powertrain.

Bharat Forge has indicated it expects stable performance in the second half of the financial year, with a focus on improving revenue and profitability in its subsidiaries.

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