RBL Bank Under Pressure
?Aaj Ka Bazaar
Wall Street indices ended in the negative territory on Monday after President Donald Trump announced a 25% tariff on Canada and Mexico. The Dow Jones Industrial Average dropped by 1.48%, the S&P 500 declined by 1.76%, and the Nasdaq Composite fell by 2.64%. Following the downturn in the US markets, Asian equities also declined, as Trump's decision to impose tariffs on trading partners raised concerns about a potential trade war impacting global economic growth. As a result, Indian benchmark indices are expected to open slightly lower, as indicated by the negative movement in GIFT Nifty. On the stock-specific front, IndiGrid Investment Managers Ltd announced that its wholly-owned subsidiary, IndiGrid 2 Pvt Ltd, has received a letter of intent from REC Power Development and Consultancy Ltd for an inter-state transmission project under the tariff-based competitive bidding (TBCB) framework. Construction of the project is expected to take 24 months, after which the project is expected to generate annual transmission charges of Rs. 195.2 crores.
?Markets Around Us?
BSE Sensex - 72,795.36 (-0.40%)
Nifty 50 - 22,009.15 (-0.50%)
Bank Nifty - 48,187.15 ?(0.15%)
Dow Jones - 43,229.80 (0.08%)
Nasdaq - 18,346.32 (-2.66%)
FTSE - 8,871.31 (0.69%)
Nikkei 225 - 37,106.10 (-1.79%)
Hang Seng - 22,893.90 (-0.51%)
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Sector:?Banking
RBL Bank Falls Amid GST Raids
RBL Bank's stock dropped over 2% after the Maharashtra State GST Department began search operations at three of its offices under the MGST Act, 2017. The bank is fully cooperating by sharing all required data, but the investigation is still ongoing. This comes as RBL Bank is working on improving its business with new leadership changes, including appointing senior experts to boost branch banking, operations, and customer service. Despite these efforts, the bank is facing financial pressure. In the third quarter of FY25, its net profit fell sharply by 86% year-on-year to ?32.63 crore, and its bad loan ratio (NPA) slightly increased to 2.92%. These updates have put the stock under pressure, and traders are watching closely for further developments.
Why it Matters:
This matters because the GST search raises concerns about possible regulatory issues at RBL Bank, which can impact its operations and reputation. At the same time, the bank is already under pressure with a steep fall in profit and a slight rise in bad loans, showing signs of financial stress. These combined factors could affect investor confidence and put more pressure on the stock in the coming days.
NIFTY 50 GAINERS
SBIN- 706.35 (1.59%)
BEL - 260.78 ?(1.32%)
ULTRACEMCO - 10381.85?(0.40%)
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NIFTY 50 LOSERS
HCLTECH - 1523.95 (-3.08%)
TECHM - 1452.30 (-2.73%)
INFY - 1671.40 (-2.18%)
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Sector: Energy
IEX Shares Dip Despite Volume Surge
Shares of Indian Energy Exchange (IEX) fell over 2% even though the company reported a 9% increase in electricity trading volumes in February, reaching 9,622 million units. While trading activity grew, the market clearing price dropped 11% compared to last year, which may have affected earnings potential. Key segments like the Day Ahead Market and Real-Time Market saw strong volume growth of 14% and 23%, respectively. IEX recently posted a nearly 19% rise in net profit for the December quarter, supported by higher trading volumes and improved liquidity, thanks to better fuel supply. However, analysts remain cautious about future growth, warning that power demand might slow and long-term contract clarity is still pending. Despite strong recent performance, there are concerns about whether IEX can maintain this pace, which, along with broader market pressure, is keeping the stock under watch for traders and investors.
Why it Matters:?
This matters because while IEX is seeing strong growth in trading volumes, the drop in electricity prices can impact its overall revenue and profitability. At the same time, there are concerns about slower power demand ahead and delays in policy updates on long-term contracts, which create uncertainty for future growth. These factors make the stock important to track, as they can influence both short-term performance and long-term potential.
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Around the World
Asian stocks fell on Tuesday, following a sharp decline on Wall Street after U.S. President Donald Trump confirmed 25% tariffs on imports from Mexico and Canada and raised tariffs on Chinese goods from 10% to 20%. These moves increased global trade tensions, with China and Canada warning of retaliation, raising fears of supply chain disruptions and slower economic growth. Japan's Nikkei dropped nearly 2%, while other major Asian markets like Hong Kong, Indonesia, and Singapore also declined. In Australia, retail sales showed slight improvement, but the central bank stayed cautious after its recent rate cut, keeping an eye on inflation and wages. Meanwhile, China's important "Two Sessions" political meetings started, where leaders are expected to announce a 5% GDP growth target and discuss key policies on the economy, defense, and technology. With global trade uncertainty rising, investors are watching these updates closely to understand how markets may react.
Option Traders Corner
Max Pain
Nifty 50 - 22300
Bank Nifty - 49000
Nifty 50 - 22128 (Pivot)
Support - 21,995, 21,871, 21,738
Resistance - 22,252, 22,385, 22,509
Bank Nifty - 48176 (Pivot)
Support - 47,778, 47,443, 47,045
Resistance - 48,512, 48,910, 49,245
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India’s Retail Investor Surge: Market Participation Hits Record Highs in 2024
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