The Indian equity markets are expected to see a steady-to-positive start on February 03, 2026, supported by a significant India-U.S. trade deal and strong momentum in banking stocks. Investor sentiment is bolstered by the U.S. reducing tariffs on Indian exports and a sharp decline in the India VIX, signaling easing near-term volatility.

🇮🇳 India Daybook: UPL Flags Debt Woes, Aster DM Merger Progresses

A major India-U.S. trade deal was announced with the U.S. reducing reciprocal tariffs on Indian exports from 25% to 18%, effective immediately, which is expected to boost export-oriented sectors. On the corporate front, UPL reported a sharp profit decline while MIC Electronics saw an explosive revenue surge, and Aanchal Ispat enters its promoter stake sale period.

📍 Q3 EARNINGS RECAP

• UPL Limited: Reported a 53% YoY drop in consolidated net profit to ₹396 crore for Q3 FY26, despite a one-time tax gain of ₹245 crore from a favorable Brazil Supreme Court ruling. The company is facing high finance costs and has filed the DRHP for its subsidiary Advanta's IPO.
• Interarch Building Solutions: Announced strong Q3 results with revenue of ₹522.52 crore (up 43.7% YoY) and a net profit of ₹37.26 crore. The board also approved a QIP of up to ₹100 crore for capital expenditure.
• Aster DM Healthcare: Revenue grew 13% YoY to ₹1,186 crore in Q3 FY26. The company noted steady progress on its merger with Quality Care India (QCIL), with a shareholders' meeting scheduled between Feb 27 and Mar 13.
• MIC Electronics: Reported a massive 668% YoY surge in consolidated net sales to ₹90.23 crore. However, net profit fell 13% to ₹1.88 crore due to significant operating margin compression.

📍 CORPORATE ACTIONS

• Aanchal Ispat: Promoter Mukesh Goel will divest a portion of his stake through an Offer For Sale (OFS) on the BSE starting February 3. The sale provides an exit route for the promoter and will be open for both retail and non-retail investors.
• Interarch Building Solutions: Board has approved raising funds through a Qualified Institutional Placement (QIP) for an amount up to ₹100 crore to fund expansion plans.

📍 STOCKS TO WATCH

• NMDC Steel: The board is scheduled to meet today, February 3, to consider and approve the financial results for the quarter ended December 31, 2025.
• Exporters (Textiles/Engineering): Stocks like Raymond, Welspun Living, and Bharat Forge are in focus following the announcement of the India-U.S. trade deal reducing tariffs on Indian exports to 18%.
• Wockhardt: The stock remains in focus following recent news regarding the USFDA acceptance for review of its drug Zainish, with investors watching for launch timelines.

📍 REGULATORY & ECONOMY

• India-U.S. Trade Deal: The U.S. has reduced reciprocal tariffs on Indian exports from 25% to 18% effective immediately, a move seen as a significant win for Indian trade diplomacy.
• India VIX: The volatility index fell over 8% to 13.86, suggesting a reduction in market anxiety despite recent post-budget fluctuations.

TAGS: India Daybook, Stocks in News, Corporate News, Stock Market, Company News

Tags: India Daybook Stocks in News Corporate News Stock Market Company News