Wall Street's main indexes opened lower on Tuesday as dwindling hopes for early interest rate cuts weighed on investor sentiment even as Walmart kicked off the earnings season for U.S. retailers on an upbeat note. The Dow Jones Industrial Average fell 51.73 points, or 0.13%, at the open to 38,576.26. The S&P 500 opened lower by 16.25 points, or 0.32%, at 4,989.32.

The Nifty50 rose 74 points to close at 22,196. The S&P BSE Sensex rallied more than 300 points. 💰EIH Hotels has a very high chance of retracing back to its support levels of 378 & 345 in the near future. 💰The nearest support areas for CRISIL are the levels of the lower trendline at 4,750. 💰If HFCL manages to close above the upper trendline, it can hit the 122.5 level in the short term.

PFC has signed an MoU with the Goa government to provide financial support for the state's climate-related projects, such as renewable energy, green hydrogen, electric vehicles, waste management, and nature-based solutions. This partnership aims to drive India's energy transition through emerging technologies and attract private sector investments towards climate actions.

CCI on Tuesday said it has approved Minda Corporation's proposed 8.79% stake purchase in Pricol. Minda Corporation is in the business of manufacturing of auto components and caters to OEMs and Tier-1 in various segments in India. The proposed combination relates to an acquisition of up to 8.79% (approx.) of the equity share capital of Pricol by Minda, according to a release.

Metal stocks, such as Hindalco, Vedanta, NMDC, and Tata Steel, saw a decline in trading on February 20 due to falling iron ore prices. This was caused by concerns over the Chinese steel demand not picking up after the Lunar New Year break. So far, iron ore has been one of the worst-performing commodities in 2024, partly due to the property crisis in China.

Novelis Inc., a subsidiary of Hindalco Industries Limited, has submitted a draft registration statement for its proposed IPO to the US SEC. The IPO will consist of common shares offered by Novelis' sole shareholder. The company expects to complete the offering after SEC review and reports steady financial performance with stable debt/EBITDA ratio and expected margin growth for the next quarter.

Thermax Limited has signed a technology agreement with South Korea's Flowtech Co Ltd for Poly Carboxylate Ether products. The deal involves a $300,000 payment and is expected to enhance Thermax's construction chemicals business. The technology provider reported a turnover of 33,000 million WON in FY2023 and there are no related party transactions involved.

Bengaluru-based EV startup Pravaig Dynamics has secured a deal to export energy storage systems for solar farms in Greece, making India's entry into the global market. With 20 MwH batteries being sold as part of the deal, this marks a significant stride in international economic cooperation and showcases India's potential as a leading exporter in renewable energy technology.

SBI exercised call option on Basel-III Additional Tier-I bonds issued in 2019. The Bank raised Rs 1,251.30 crore at a coupon rate of 9.45%. The principal amount along with interest will be paid on March 22, 2024 and no obligation will remain after this call option. Record date is March 7, 2024 for payment of call option amount and last interest due, subject to terms of Information Memorandum.

Yum Restaurants India plans to sell its 4.4% stake in Devyani International for Rs 814.8 cr. The decision was made after a dip in consumer sentiment and impact from international events. Yum had previously bought the stake in Sept 2021 and held 5 cr shares. Experts advise caution before taking investment decisions. The sale is likely to take place at a discounted floor price of Rs 153.5 per share.

At the upcoming WTO's 13th Ministerial Conference, India plans to push for an end to the moratorium on customs duties on e-commerce trade. This decision comes after the country's belief that developed countries are benefitting from this leeway at the expense of developing nations. The conference will also review the functioning of multilateral trading system and discuss the future work of the WTO.

The food delivery market in India has been buoyed by the Covid-19, with the industry projected to grow rapidly in the coming years. Despite being a smaller market compared to the US, Indian Zomato has outperformed its American counterpart, DoorDash. Both platforms have similar strategies in place to acquire and retain customers, leading to a rise in profits and market value for both companies.

Sebi settled a case with four entities, including Whitespace Alpha Trust and Whitespace Fund LLP, for violating AIF rules by breaching investment limit in a single company. The entities paid Rs 15 lakh as settlement amount. Sebi observed that there was concentration of more than 10% of investable funds in Reliance Industries Ltd by Whitespace Alpha - Fund 1 scheme.

Indian FinMin has expressed concern about the impact of global growth and trade uncertainties on country's exports. The recent attacks by Houthi rebels on commercial vessels in the Red Sea have raised concerns about maritime commerce. Despite a slight increase in January, India's exports have been declining for the past few months, owing to disruptions in trade routes and higher logistics costs.

M&M, a homegrown automaker, says the ongoing Red Sea crisis has not had a significant impact on its business. They have long-term contracts to cover increased ocean freight costs, but there may be delays in delivering products. The company has taken measures to ensure a steady supply of raw materials. M&M reported a 20% growth in Q3 sales and maintains leadership positions in SUVs, LCVs, and E3Ws.