Asian shares traded mixed on Monday as investors sought bargains amid concerns over U.S. President Donald Trump's tariff policies.

US stock indices slipped on Friday after the weak jobs data and a consumer sentiment survey.

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

Source: Equitymaster

At present, the BSE Sensex is trading 369 points lower and NSE Nifty is trading 120 points lower.

HUL, Bharti Airtel, and JSW Steel are among the top gainers today.

Tata Steel, Cipla, and Hindalco on the other hand are among the top losers today.

The BSE Midcap index is trading 0.9% lower and the BSE Smallcap index is trading 1.2% lower.

Barring the FMCG sector all other sectoral indices are trading lower with stocks in the metal sector, energy sector, and realty sector witnessing selling pressure.

The rupee is trading at Rs 87.89 against the US dollar.
 

L&T Finance Enters Gold Loan Business

In a strategic move to strengthen its secured lending portfolio, L&T Finance has entered the gold loan business by acquiring Paul Merchants Finance Pvt Ltd's (PMFL) gold loan division.

The Rs 5.4 bn all-cash transaction, structured as a slump sale, marks a significant expansion for the Larsen & Toubro Group's NBFC.

Additional adjustments are expected before closure, with the deal subject to regulatory approvals and likely to be finalized by the second quarter of FY25-26.

The acquisition brings L&T Finance a fully operational network of gold loan branches across key regions, including Chandigarh, Punjab, Haryana, Delhi, Rajasthan, Gujarat, Madhya Pradesh, and Uttarakhand. It also provides access to a 24/7 security centre for remote monitoring, along with a workforce of approximately 700 employees and 130 branches.

With assets under management (AUM) of around Rs 10 bn and a customer base exceeding 98,000, the acquisition offers L&T Finance a strong foundation for rapid expansion in the gold loan segment.
 

Oil India Q3 Results

State-owned Oil India Ltd reported a 22.88% year-on-year (YoY) drop in net profit, posting Rs 12.2 bn for Q3 FY25 compared to Rs 15.8 bn in the same quarter of the previous fiscal. Revenue declined by 9.89% to Rs 52.4 bn from Rs 58.2 bn in Q3 FY24.

At the operating level, EBITDA fell 11.18% to Rs 23.2 bn, down from Rs 26.1 bn a year ago, though EBITDA margin improved to 42.76% from 41.34%. EBITDA represents earnings before interest, tax, depreciation, and amortization.

For the nine months ended December 31, 2024, crude oil production rose 4.10% to 2.614 million tonnes (MT) from 2.511 MT in the same period of FY24. Natural gas production also increased by 2.90% to 2,446 MMSCM, compared to 2,377 MMSCM in the previous fiscal.

The group's profit after tax (PAT) for 9M FY25 grew 19.26% to Rs 55.4 bn, up from Rs 46.5 bn in FY24.

The company's board has recommended an interim dividend of Rs 7 per fully paid equity share, bringing the total interim dividend for Q3 FY25 to Rs 10 per share.

Cipla Unit Receives VAI Status

Mumbai-based Cipla Ltd. has informed the exchanges that its Virgonagar manufacturing facility in Bengaluru has received a Voluntary Action Indicated (VAI) status from the United States Food and Drug Administration (USFDA).

A VAI status indicates that while certain objectionable conditions or practices were identified, the USFDA does not intend to take regulatory or administrative action. This classification is less severe than Official Action Indicated (OAI), which suggests enforcement measures may be required. The facility underwent a routine current Good Manufacturing Practices (cGMP) inspection from 7 November to 13 November 2024.

Meanwhile, Cipla recently announced its December quarter results, delivering strong performance across key metrics. However, sales from the US market, which contributes a significant portion of its revenue, declined by 2% year-on-year to US$ 226 million (m).
 

NHPC Declares Dividend

NHPC has announced an interim dividend of Rs 1.4 per share on a face value of Rs 10 for the financial year 2024-25.

The company's board has set 13 February 2025, as the record date to determine eligible shareholders, as per an exchange filing on Friday.

The dividend will be paid or dispatched within the timeframe stipulated under the Companies Act, 2013.

The announcement coincided with NHPC's financial results for the quarter ended 31 December 2023.

The company's consolidated net profit declined to Rs 2.3 bn from Rs 4.9 bn in the same period last year.

However, revenue grew by 11.3% year-on-year to Rs 22.9 bn, compared to Rs 20.6 bn in the previous year.

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