Asian stock markets tumbled on Monday and US tariffs on Canada, Mexico, and China triggered fears of a broad trade war.

Japan's Nikkei 225 declined 1.84%, while the Topix dropped 1.75%.

US stock futures plunged on Sunday after new US tariffs on goods from Canada, Mexic,o and China.

Futures tied to the Dow Jones Industrial Average declined 463 points, or 1%, while S&P 500 futures dropped 1.6%. Nasdaq-100 futures were down 2.1%.

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

Source: Equitymaster

At present, the BSE Sensex is trading 508 points lower and NSE Nifty is trading 185 points lower.

Nestle, Sun Pharma, and Titan are among the top gainers today.

ONGC, BPCL, and Coal India on the other hand are among the top losers today.

The BSE Midcap index is trading 1.1% lower and the BSE Smallcap index is trading 1.3% lower.

Sectoral indices are trading on a mixed note today with stocks in the healthcare sector and the consumer durables sector witnessing buying. Meanwhile, stocks in the metal sector and capital goods sector witnessing selling pressure.

The rupee is trading at Rs 86.7 against the US dollar.
 

Lupin Gets USFDA Clearance

Lupin's share price will be in focus on 3 February after the company received no observations from the United States Food and Drug Administration (USFDA) following the completion of a pre-approval inspection.

The company announced that the USFDA conducted a pre-approval inspection for Edaravone Oral Suspension, 105 mg/5 mL, at its manufacturing facility in Somerset, New Jersey. The inspection took place from 28 January to 1 February 2025, and concluded with zero 483 observations.

Additionally, the company's board of directors is set to meet on 11 February 2025, to review and approve the unaudited standalone and consolidated financial results for the quarter and nine months ending 31 December 2024.

Earlier in January, Lupin received an Establishment Inspection Report (EIR) from the USFDA for its Pithampur Unit-1 manufacturing facility, which produces both APIs and finished products.
 

Hero MotoCorp's Sales Data

Hero MotoCorp's share price will be in focus on 3 February after the company reported its sales data for January 2025.

The company's total sales rose by 2.13% to 4,42,873 units in January 2025, compared to 4,33,598 units in the same month last year. Domestic sales stood at 4,12,378 units, while exports surged 141% year-on-year to 30,495 units, driven by strong demand in key international markets such as Bangladesh and Colombia.

Additionally, the company's electric vehicle (EV) brand, VIDA, dispatched 6,669 units of the newly launched VIDA V2 electric scooter.

Meanwhile, the board of directors is set to meet on 6 February 2025, to review and approve the unaudited standalone and consolidated financial results for the quarter and nine-month period ending 31 December 2024.

GR Infraprojects Q3 Numbers

GR Infraprojects Ltd reported a 7.8% year-on-year (YoY) increase in net profit, reaching Rs 2.6 bn for the third quarter ended 31 December 2024.

According to its regulatory filing, the company posted a net profit of Rs 2.4 bn in the same quarter of the previous fiscal year.

However, revenue from operations declined by 20.6% to Rs 16.9 bn, compared to Rs 21.3 bn in the corresponding period last year.

At the operating level, EBITDA fell 27.1% to Rs 3.7 bn from Rs 5.1 bn in the same period of the previous fiscal.

The EBITDA margin stood at 21.8% in Q3 FY25, down from 23.8% a year ago.

Meanwhile, on 30 November 2024, GR Infraprojects announced that it had received the Provisional Certificate of Completion (PCOD) for the Ena-Kim HAM (Hybrid Annuity Model) project.
 

Anant Raj Q3 Results

Anant Raj Ltd., a real estate and data centre infrastructure company, announced its December quarter results after market hours on Saturday, 1 February.

The company's revenue rose 36.2% year-on-year to Rs 5.3 bn, compared to Rs 3.9 bn in the corresponding quarter last year. EBITDA increased by 47.1% to Rs 1.3 bn, while the EBITDA margin expanded by nearly 200 basis points to 24.9% from 23.1% in the previous year.

Net profit for the quarter stood at Rs 1.1 bn, marking a 55% growth year-on-year.

Shares of Anant Raj had witnessed a sharp decline over three trading sessions on 24, 27, and 28 January, following concerns related to the emergence of Chinese AI start-up DeepSeek, which triggered a sell-off in US tech stocks and impacted Indian stocks like Anant Raj and Netweb Technologies.

In a clarification to the exchanges on Wednesday, the company stated that ongoing trends in AI and computing would drive higher demand for data centres as processing becomes more decentralized.

More By This Author: