Asian markets are mostly higher on Tuesday, following mixed signals from Wall Street. Traders are optimistic, watching trade developments, after US Treasury Secretary potential agreements on key trade deals.

US stocks were volatile on Monday, with fluctuations throughout the day with wall street experiencing choppy trading as investors waited cautiously for the upcoming earnings reports and economic data, hesitates to make big moves.

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

Source: Equitymaster

At present, the BSE Sensex is trading 203 points higher, and the NSE Nifty is trading 62 points higher.

Tata Motors, Reliance Industries, and Bharti Airtel are among the top gainers today.

Sun Pharma, UltraTech Cement, and Nestle, on the other hand, are among the top losers today.

The BSE Midcap index and the BSE Smallcap index are trading 0.6% higher.

Sectoral indices are trading mixed today with stocks in healthcare sector and metal sector witnessing selling pressure. Meanwhile stocks in auto and telecommunication witnessing buying.

The rupee is trading at Rs 85.1 against the US dollar.
 

Castrol India Reports Strong Profit Growth

Engine Oil and Lubricant producers Castrol India profit rose 8% to Rs 2.3 billion (bn) due to growing demand.

The sales revenue also increased 7.3% to Rs 14.2 bn.

Castrol is India's engine oil seller. They focus on premium products for SUVs, which are very popular in India and also expanding into Rural areas.

India's automobile sales grew 2% in the January-March quarter, driven by strong demand for large truck, SUVs, and scooter which performed well and contributed to over all growth during that period.

Castrol India supplies lubricants to major automakers like Maruti Suzuki, and Hero MotoCorp, partnering with the industry leaders to ensure high standards and widespread use in Indian Vehicles.

The company's Managing Director mentioned that the successful relaunch of Castrol Activ and strong sales in rural areas drive the company's growth this quarter.

HG Infra Bags Huge NHAI Contract

HG Infra Engineering's subsidiary has been awarded a contract worth Rs 11.2 bn by the National Highway Authority of India (NHAI).

HG Infra subsidiary, HG Raipur Visakhapatnam received a certificate allowing the project to start commercial operations from 8 January 2025.

The projects involve building a six-lane highway in Odisha 's NH-130-CD road, as a part of the Raipur-Visakhapatnam Economic Corridor and would be completed in 730 days.

The infrastructure company secured a contract for a 300 MW/600MWh segment of battery energy storage project in Gujarat. This project involves installing standalone battery systems to store and supply electricity and was awarded through a competitive bidding process.
 

UltraTech Cement Q4 Profit Jumps Higher.

UltraTech Cement made a profit of Rs 24.8 bn in the last quarter, which is 10% more than the same period last year.

UltraTech's revenue grew 13% to Rs 230.6 bn in the last quarter, compared to Rs 204.2 in the period last year.

This was UltraTech's first full quarter reporting financials after acquiring India Cements and Kesoram Industries' cement business. As a result, their cement sales volume grew 17% to 41.02 million tons.

UltraTech's cement sales price remained low due to intense competition especially with Adani Cement, which put pressure on pricing.

UltraTech's cement sales price was Rs 5052 per ton down 2.3% from year, but up 1.6% from the previous quarter.

The company's expenses like logistics and fuel decreased in both the quarter and the year. The average distance to deliver cement also dropped to 384 km from 400 km last year.
 

Nippon Life AMC Sees Profit Decline

Nippon Life India's Q4 profit dropped 13% to Rs 2.9 bn from Rs 3.4 bn in the same from last year.

The company's net profit surges by 1.1% from Rs 2.9 bn.

However, the revenue increased 21% year-over-year to Rs 5.6 bn from 4.6 bn last year but dropped 3.3% from Rs 5.8 bn in the previous quarter.

Nippon Life's board recommended a dividend of Rs 10 per share for FY25, pending shareholder approval. This brings the total dividend for the year to Rs 18 per share including the Rs 8 interim dividend already paid.

Nippon Life Asset Management offers a range of investments services, including mutual funds, portfolio management, alternative investments fund, pension funds along with investment advisory services.

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