As Indian stock markets get ready to open today, February 23, investors will be tracking a mix of global political developments and domestic corporate announcements.
The biggest global trigger comes from the United States, where a dramatic legal twist on trade tariffs has added fresh uncertainty.
Back home, a series of corporate announcements ranging from fundraising plans and restructuring proposals to stake hikes and capacity additions are set to drive stock-specific action.
With global headlines and company developments colliding at the start of the week, let’s take a look at the major developments likely to shape market mood.
From 10% to 15%: Trump sharpens his tariff push – Key sectors in focus
Several export oriented stocks including textile, gems and jewellery, pharma and IT will stay in focus. Within hours after the US Supreme Court’s decision to strike down a large swath of President Donald Trump’s tariffs, he slapped a new 10% tariff on all imports. He insisted that trade and investment deals reached with nearly 20 countries – most with higher tariffs – should remain untouched.
Additionally, he raised the new tariff to 15% 24 hours later. In a social media post, Trump said, “I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been ‘ripping’ the U.S. off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level.”
The administration has also indicated that it may explore other legal routes to impose product or country specific tariffs based on national security or unfair trade practices. The development adds uncertainty to global trade flows and could impact commodities, currencies and export focused sectors.
IDFC First Bank
Private sector lender IDFC First Bank has disclosed a suspected fraud of around Rs 590 crore at one of its branches in Chandigarh, involving four employees who are now under investigation. The issue came to light during a preliminary internal review, which flagged irregularities in certain accounts handled at the branch. The bank indicated that the suspected misconduct may not be limited to the employees alone and could involve other individuals or entities.
In its regulatory filing with the BSE on February 21, the lender said the amount under reconciliation across the identified accounts is approximately Rs 590 crore. The impacted accounts belong to a specific group linked to the Haryana government and were being operated through the Chandigarh branch. The bank has initiated further checks to determine the full extent of the matter.
Vedanta
Back home, metals and mining major Vedanta has announced that its board committee will meet on February 25 to consider raising funds through Non-Convertible Debentures (NCDs).
The company clarified that this move is part of routine refinancing in the ordinary course of business.
ICICI Bank
ICICI Bank has received an Order in Appeal from the Maharashtra Goods and Services Tax Department confirming a tax demand of Rs 50.38 crore, along with an equivalent penalty and applicable interest. The matter relates to an earlier Order in Original issued in January 2025 for the same amount. The bank had filed an appeal against that order under Section 107 of the Central Goods and Services Tax Act, 2017, and the appellate authority has now issued its decision in the case.
SBI
India’s largest public sector lender, State Bank of India, is in talks with Japanese banks to explore a partnership in the acquisition finance business, as per PTI report. The discussions come after the Reserve Bank of India recently allowed domestic lenders to enter this segment, which involves funding corporate acquisitions.
Blue Cloud Softech
Small cap information technology firm Blue Cloud Softech Solutions has scheduled a board meeting on February 23 to consider acquiring a 100% equity stake in another company through a share swap arrangement.
Hindustan Copper
State-owned Hindustan Copper has received temporary relief in a regulatory matter. The Revisionary Authority under the Ministry of Mines has stayed a demand notice issued by the District Mining Officer in Jharkhand until the next hearing. During this period, the state government has been directed not to take any coercive action that could disrupt mining operations.
UPL
Agrochemical major UPL has announced a restructuring plan involving multiple group entities. The company intends to reorganise its businesses into two listed entities. As part of the scheme, UPL Sustainable Agri Solutions will merge with UPL, while the India crop protection business will be demerged into UPL Global Sustainable Agri.
NTPC Green Energy
NTPC Green Energy has announced that over 158 megawatts of a 250 megawatt solar power project in Andhra Pradesh has commenced commercial operations. With this addition, the total installed capacity of the NTPC Green Energy group has crossed 9,150 megawatts.
Aster DM Healthcare
Institutional activity could also influence trading. HDFC Mutual Fund has increased its stake in Aster DM Healthcare Ltd to over 7%.
LIC, Cipla
Life Insurance Corporation of India has raised its holding in Cipla Ltd to 9.09%.