TLDR
Market Recap: February 20, 2026
On February 20, Indian equities rebounded from Thursday’s risk-off hit, with banks, PSU lenders, metals, and power leading a steady grind higher, even as IT stayed the key drag amid ongoing AI disruption concerns. The BSE Sensex closed at 82,814.71, up 316.57 points (+0.38%), while the NSE Nifty 50 ended at 25,571.25, up 116.90 points (+0.46%). Broader markets were mixed, with Nifty Midcap 100 at 59,513.95 (+0.48%) and Nifty Smallcap 100 at 17,002.15 (-0.11%). Volatility remained elevated, with India VIX rising to 14.36 (+0.90, +6.69%), reflecting persistent geopolitical and crude-related uncertainty. Provisional flows showed FIIs net sold ₹934.61 crore, while DIIs net bought ₹2,637.15 crore, keeping dip buying intact.
Key Drivers :
Banks kept leadership: PSU banks and select financials extended gains on earnings optimism, helping the market recover despite continued IT weakness and a still cautious global backdrop.
Domestic bids absorbed selling: DIIs stayed strong buyers while FIIs remained net sellers, supporting late session stability and limiting follow-through downside after Thursday’s shock.
Policy comfort, macro risk: RBI flagged benign inflation dynamics, but crude and geopolitics kept hedging demand firm, visible in the VIX push higher.
Today’s Top Stories:
Novartis India deal: Novartis is exiting; ChrysCapital-led buyers trigger an open offer, and the stock hits the upper circuit on control change.
ABB India: Record FY25 orders trump margin noise as investors reward visibility, pushing the stock sharply higher.
JSW Infra: Board cleared an equity raise route to fund a large ports and logistics buildout and meet minimum public float norms.
CIE Automotive: Double-digit profit and revenue growth, plus a ₹7 dividend, keep the name in focus for earnings and income screens.
Paras Defence: Picked up a 49% stake in a thermal solutions niche player, boosting defence and space capability optionality.
Market Snapshot
CNBC
Nifty 50 Index Heatmap
Trading View
Top Gainers & Losers
Trading View
TOP STORIES
1. Novartis Exits India Unit; Control Premium Hits Upper Circuit
Gemini-2.5
Deal: Novartis sells 70.68% in Novartis India for about $159m to a ChrysCapital-led consortium.
Open offer: Buyers launch a mandatory offer for up to 26% at ₹860.64 per share.
Market impact: Novartis India jumped nearly 20%, pricing in control change and deal certainty.
Novartis exiting Novartis India is:
2. ABB India Pops on Record Orders, Margins Take Backseat
Gemini-2.5
Q4 snapshot: Profit about ₹434cr, revenue about ₹3,557cr; orders jumped to ₹4,096cr.
FY highlight: FY25 orders hit ₹14,115cr and revenue ₹13,203cr, both record highs.
Stock reaction: Shares rose about 7% as order momentum outweighed near term margin noise.
ABB’s record orders signal:
3. JSW Infra Clears Equity Raise Route to Fund Scale Up
Gemini-2.5
Board nod: Approved raising funds via issuing up to 25 crore equity shares through QIP, rights, FPO, or similar routes.
Why now: Raise supports growth capex and helps meet SEBI’s 25% minimum public shareholding requirement.
Investor lens: Dilution versus acceleration now depends on sizing, timing, and pricing discipline.
$JSWINFRA.NSE ( ▼ 0.57% )
JSW Infra’s equity raise plan is:
4. CIE Automotive Delivers Double-Digit Growth, Declares ₹7 Dividend
Gemini-2.5
Results: Profit about ₹204cr (+10% YoY) and revenue about ₹2,393cr (+13% YoY).
Payout: Board recommended a ₹7 per share dividend, keeping income screens interested.
Focus: Watch margins and volume leverage as the auto cycle normalizes.
CIE’s ₹7 dividend plus growth is:
5. Paras Defence Buys 49% in Himanshi Thermal; Capability Add Trade
Gemini-2.5
Deal: Acquired 49% in Himanshi Thermal Solutions from DefSpace, aimed at thermal management and fabrication capability.
Strategic angle: Expands defence and space stack, with focus on product depth and future order pipeline.
Market impact: Stock moved up on the update, treated as a capability add, not a balance sheet risk.
Paras buying 49% in Himanshi Thermal is:
GYAANI HOT TAKES
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