KEY HIGHLIGHTS
Rupee Vs Dollar Live: INR Ends Below 86
The Indian rupee strengthened 40 paise to close at 85.97 against the US dollar, the highest since Jan. 10.
The local currency performed better against the greenback for the eighth day in a row, the longest appreciation streak since December 2021. The rupee appreciated nearly 1% this week.
Nifty Above 23,300, Sensex Adds 600 Points
India's benchmark indices ended higher for week, powered by gains in realty, energy and pharma stocks.
Key highlights:
Nifty, Sensex gains more than 4% for the week
SBI Life Insurance, HDFC Life Insurance and Shriram Finance, top gainers in Nifty
Nifty Midcap 150 gains more than 7% for the week, led by Mangalore Refinery, GIC and The New India Assurance.
Nifty Smallcap 250 gains 8% for the week, led by Garden Reach Shipbuilders, Valor Estate and Nuvama Wealth Management.
Nifty Realty emerged as the top sectoral gainer for the week, gaining 7.7% for the week.
Raymond, Macrotech Developers and Mahindra Lifespace Developers are the top gainers in Nifty Realty.
Nifty Financial Services close higher for the 3rd week in a row.
Nifty Auto close higher for the 5th week in a row.
Nifty FMCG, IT close higher for the 2 weeks in a row.
Gidrej Agrovet's New Investment
Godrej Agrovet signed a share purchase pact with to buy over 47% stake in subsidiary Creamline Dairy Products.
Source: Exchange Filing
Rupee Vs Dollar: INR Gains Further
The Indian rupee appreciated 41 paise to strengthen above 86 against the US dollar, for the first time since Jan. 10.
It hit 85.96. intraday.
Source: Bloomberg
REC Gets Parminder Chopra As CMD
Ministry of Power assigned additional charge of CMD to Parminder Chopra for three months. Parminder Chopra is the CMD of Power Finance Corp.
Source: Exchange Filing
Share Market Live: Government To Rescue Rashtriya Ispat Nigam
The Ministry of Steel approved infusion of Rs 11,440 crore as equity or preferential capital in debt-ridden Rashtriya Ispat Nigam to sustain operations and revive the flailing steelmaker.
Source: PIB
Stock Market Live: CBI Nabs PFC, KEC International Officials In Bribery Case
The Central Bureau of Investigation has arrested Power Grid Corp. general manager Uday Kumar, posted in Ajmer, and KEC International DGM Suman Singh of taking bribe of Rs 2.5 lakh.
They have been accused of giving contracts in exchange for favours.
Source: CBI sources to NDTV
Mahanagar Gas Target Price Hiked
Morgan Stanley has hiked MGL share target price from Rs 1,606 to Rs 1,789. It has maintain 'overweight' rating.
MGL have a pathway to double market cap in the next three years
MGL is well positioned to meet growing travel and energy demand in Mumbai
Expect four-wheeler CNG conversions to remain competitive with EVs in terms of price economics
LNG trucking remains an underappreciated source of upside
SML Isuzu Leadership Change
SML Izuzu MD and CEO Junya Yamanishi has resigned, The company has appointed Yasushi Nishikawa to replace.
Source: Exchange Filing
Countdown To March 31st: 5 Smart Financial Moves to Save Taxes
Among other important news the financial year draws to a close and taxpayers across India are racing against time to make crucial financial decisions.
The deadline of March 31st marks not just the end of a fiscal year but also the last chance to optimise taxes and secure financial well-being.
You can read about the five essential steps to consider before the clock strikes midnight on March 31st here.
Reliance Industries Share Price Update: Large Trade In Stock
Over 6.23 million shares of Reliance Industries were traded via a block deal on Friday. The share of Tata Steel fell as much as 0.51% to Rs 1,275.65 apiece. According to NDTV Profit's calculation the deal is valued at Rs 800 crore.
Tata Steel Share Price Update: Large Trade In Stock
Over 3.31 million shares of Tata Steel were traded via a block deal on Friday. The share of Tata Steel fell as much as 0.91% to Rs 157.60 apiece.
Stock Market Live: Ola Electric Share Price Today
The shares of Ola Electric rose nearly 10% on Friday despite its persisting problems. This comes after the company issued a clarification stating there are no ongoing regulatory or legal proceedings against it.
Nifty Today Live: Strong Weekly Gains
Nifty set to close the week with gains of 4.3%, highest since February 2021.
Rupee Vs Dollar Live: Why Is INR Up
Forex dealer said the rupee's upmove is linked to March-end move. Corporates and other exporters are pulling back funds held in foreign jurisdictions. Typically companies bring back funds by selling dollars at the end of financial year.
Rupee may even hit 85.50 by year-end, dealers said.
The local currency has appreciated by 1.45% against the dollar in the last eight sessions. It has been gaining for eight consecutive days, the longest stretch since December 2021
Rupee Vs Dollar Live: INR Appreciates Sharply
The rupee appreciated by 32 paise to 86.05 against the dollar intraday.
It closed at 86.37 on Thursday.
Rupee strength comes despite the US dollar index gaining 0.3% against major currencies.
Source: Bloomberg
S&P Global On Manappuram Finance
S&P Global doesn't expect Bain Capital's acquisition of a stake in Manappuram Finance to impact the company's rating. This is because Manappuram Finance already had a "very strong" capital position before the stake acquisition. The acquisition is actually seen as a positive move for the company's corporate governance.
Source: Informist
Adani Energy Share Price Up; New Order Win
Adani Energy received Rs 2,800 crore transmission project in Gujarat for green hydrogen and ammonia manufacturing.
Source: Exchange Filing
SEBI Board Meet: Action Packed Agenda
The SEBI board will be held on March 24. It will be the first meeting under chairman Tuhin Kanta Pandey. Here are the likely agenda for discussion.
Easing FPI Disclosures
Investment threshold for FPIs disclosures could be raised to Rs. 50k crore from Rs 25k cr at present
Move to reduce compliance burden
To introduce Settlement Scheme for Algo brokers
Scheme could benefit about 120 brokers
Decision expected on Extension of the fee collection period for Research Analysts (RAs) to one year
Source: People in the know
Stock Market Live: Midday Update
Nifty 50 up 0.75%; intraday high 0.78%
Sensex up 0.76%; intraday high 0.8%
Nifty Bank up 0.74%; intraday high 0.94%
Nifty Midcap 150 up 1.1%
Nifty Smallcap 250 up 1.56%
Nifty Auto, Nifty Energy top sectoral gainers
Top Nifty Gainers: Bajaj Finance, SBI Life, NTPC
Top Nifty Losers: Infosys, IndusInd Bank, Trent
IT Sector Outlook: Analysts Have Chalk And Cheese Views On Tech Stocks After Accenture Results
Accenture Plc on Thursday increased its lower-end forecast for earnings per share and revenue for fiscal 2025. The information technology company now expects its EPS to be in the range of $12.55 to $12.79 per share for fiscal 2025 as opposed to its previous expectations of $12.43 to $12.79. This, according to HSBC, signals a neutral to positive signal for the Indian IT sector. While, according to Nomura, the numbers ring a caution bell on US federal contracts and rising uncertainties.
Read full story here.
Stock Market Live: Manappuram Finance Share Price Today
Shares of Manappuram Finance Ltd. rose 6% on Friday to hit a fresh life high as US-based Bain Capital is set to take over a controlling stake in the company.
Read full story here.
Stock Market Live: BHEL Stock Price Today
Shares of Bharat Heavy Electricals rose 3.45% intraday to Rs 213.67 apiece. It was trading close to that level by 10:50 a.m. The benchmark Nifty 50 was up 0.7%.
Read full story here.
NMDC Share Price Declines As Stock Turns Ex-Dividend
Shares of NMDC declined nearly 4% on Friday as the stock turned ex-dividend for its upcoming dividend payouts. Investors holding NMDC shares at the end of the record date will be eligible for the announced dividends, which are set to be paid out next month.
The board of NMDC on March 17 announced its first dividend of Rs 2.30 per share at a face value of Rs 1 for financial year 2025.
L&T Share Price Up; Order Win
L&T share prive was grading higher by over 1%. The company received an order in the range of Rs 2,500-5,000 crore from Brigade Group to build residential and commercial towers for Brigade Group in Hyderabad and Chennai.
Stock Market Live: March Roundup
Nifty 50 up over 5.5%
Nifty Midcap 150 up almost 8%
Nifty Smallcap 250 up over 9.5%
MARKET CAP GAIN
Total market cap gain of Rs 28.85 lakh crore
Large caps have gained Rs 17.51 lakh crore in market cap
Mid caps have gained Rs 5.16 lakh crore in market cap
Small caps have gained Rs 3.74 lakh crore in market cap
TOP MID CAP MARKET CAP GAINERS
Mazagon Docks: Rs 18,600 crore
Solar Industries: Rs 16,000 crore
Lloyds Metal: Rs 53,300 crore
TOP SMALL CAP MARKET CAP GAINERS
Jyoti CNC: Rs 6,800 crore
JSW Holdings: Rs 6,700 crore
Wockhardt: Rs 5,500 crore
Share Market Live: All Adani Stock Trade Higher
BHEL Share Price Up After Order Win
Bharat Heavy Electricals Ltd. received a new order worth Rs 7,500 crore from Gujarat State Electricity Corp. for supply of equipment and civil works.
Source: Exchange filing
Nifty Today Live: Index Crosses 23,300 Resistance
The Nifty 50 has taken out the 23,300 resistance level, rising 0.5%. Sensex has added nearly 400 points to go above 76,700.
Share Market Live: Bounce Back From Correction Soon
Which way are the markets headed as the new fiscal comes about?
Nirav Sheth, CEO of institutional equities at Emkay Global Financial Services, said in the next three months (i.e. in FY26), the markets will discount FY27 earnings and lower interest rates and bounce back
ITC Hotels Share Price At Life High
ITC Hotels share price rose to a life high of Rs 193.2 after a jump of 4%.
Jindal Stainless CFO Resigns
Jindal Stainless Group CFO Anurag Mantri has resigned effective April 4.
Source: Exchange filing
United Spirits Share Price Hit One-Month
Shares of United Spirits Ltd. rose on Friday to hit an over one-month high after Citi upgraded it to 'buy' from 'neutral', with a target price of Rs 1,650. It cited strong growth prospects, driven by a favourable policy environment and effective strategies to manage commodity cost pressures.
Despite challenges from rising commodity costs, such as higher Extra Neutral Alcohol and glass prices, Citi expects moderate margin expansion for United Spirits. The company’s efforts in productivity improvements and revenue growth management should help offset these pressures.
Read full story here.
IT Stocks Make Comeback: Nifty IT Up
Most IT stocks have receovered from day's low. The Nifty IT, which fell 2.7% during early trading, was up 0.2%.
Share Market Live: Nifty Smallcap, Midcap Up
Broader markets are outperforming benchmarks. The Nifty Smallcap 250 and Midcap 150 are trading at their highest level in over a month.
Manappuram Finance Stock Up 5%
Manappuram Finance share price jumped over 5%. Bain Capital will invest Rs 4,385 crore to acquire 18% stake through a preferential allotment of equity shares and warrants.
The transaction will trigger mandatory open offer for purchase of 26% stake from the public. Bain has offered Rs 236 per share for the purchase.
Stock Market Live: Nifty, Sensex Surge
The Nifty is heading towards the 23,300 mark, aftet rising 0.4%. The Sensex added over 200 points to above 76,600.
Bajaj Finance and Hero MotoCorp are the best performers on the Nifty, rising over 2%.
Bond Market Live: Yield On Benchmark Drops
India's benchmark 10-year government bond yield dropped to 6.62%, lowest since 2022.
Source: Bloomberg
Stock Market Today: Pharma Stocks Rise, Mankind Top Gainer
Stock Market Today: Railway Stocks Rise
Shares of all railway sector companies rose on Friday. Jupiter Wagons was the top gainer, rising over 6%.
Ola Electric Share Price Up After Clarification
Ola Electric stock traded higher after company said no ongoing regulatory or legal proceedings against it.
IndusInd Bank Share Price Down
IndusInd Bank stock down after board appoints independent professional firm to probe accounting discrepancies.
Bajaj Finance Share Price Live: Stock Up Nearly 5%
Bajaj Finance stock gains 4.7% after Rajiv Jain appointed executive vice chairman, Anup Saha re-designated Managing Director
Share Market Today: TCS, Wipro Lead IT Decline
IT stocks are down following the earnings announcement by Accenture. Infosys is the top loser, follwoed by Persistent Systems and Mphasis.
The Nifty IT is down 2.73%.
Stock Market Live: Nifty, Sensex Open Lower
India's benchmark indices opened lower on Friday. The Nifty started 0.1% lower at 23,168, while Sensex was down 0.25% at 76,155.
Rupee Vs US Dollar: INR Open Stronger
The Indian rupee opened 14 paise higher on Friday at 86.228 against the US dollar. The local currency is expected to trade a 86.20-86.50 range with sideways price action, according to IFA Global.
Stock Market Live: Nifty, Sensex Down In Pre-Open
Both the benchmark Nifty and Sensex are down in pre-open session.
AU Small Finance Bank Clarifies CFO Has Not Resigned
AU Small Finance Bank Ltd. has issued a statement to address recent rumours regarding the resignation of its Chief Financial Officer (CFO) and the conduct of a special audit by the Reserve Bank of India (RBI). The bank denied these rumours, emphasising that they are baseless and intended to cause panic among shareholders and manipulate the stock price.
The bank also clarified to NDTV Profit earlier that the CFO has not resigned.
The bank confirmed that its CFO, Vimal Jain, who has been with AU SFB since January 2010, continues to serve in his position and has not tendered his resignation.
Read full story here.
What Brokerages Say On IT?
Citi
The negative impact on the US Federal business is noted, but Indian IT has limited exposure.
Competition in other segments may increase.
Revenue growth in financial year 2026E is expected to be 4%, similar to financial year 2025E.
Margin improvements in a competitive environment will be challenging, despite favourable INR movements.
The overall sector view remains cautious.
Citi prefers HCL Tech and Infosys in the large-cap space and Mphasis in the mid-tier space.
CLSA
Accenture derives 8% of its revenue from US public services, which are facing significant cutbacks, a headwind not faced by Indian IT companies.
CLSA remains optimistic about the Indian IT sector based on earnings.
While near-term revenue growth may be impacted by currency changes, INR depreciation should partially offset this.
CLSA reiterated an 'outperform' rating on TCS, Infosys, Wipro, and Tech Mahindra due to continued growth in the BFSI and CMT verticals at Accenture.
Nomura
Accenture's caution regarding US federal contracts and rising macroeconomic uncertainty contrasts with the situation for Indian IT companies, which have no exposure to US federal contracts.
There is a risk of increased caution from clients regarding IT spending due to macroeconomic uncertainty.
While growth for Indian IT companies is expected to bottom out in FY25F, it is unlikely to worsen significantly.
Indian IT companies are better positioned compared to Accenture due to their lack of exposure to US federal government contracts.
Share Market Live: Key Stocks To Watch Today
Manappuram Finance: Bain Capital will invest Rs 4,385 crore in the company. It will buy 9.29 crore shares and 9.29 crore warrants in the company. Bain Capital is to be classified as a promoter of Manappuram Finance after the completion of the deal. It is set to buy an 18% stake in Manappuram Finance through preferential allotment of shares. Warrants issued to Bain Capital are convertible to equivalent equity shares on a 1:1 ratio.
IndusInd Bank: The Board has engaged an independent professional firm to thoroughly investigate accounting discrepancies. The firm will review the accuracy and implications of the accounting treatment of derivative contracts, provide guidance, identify any lapses, and establish accountability related to these issues.
JSW Energy: The company will raise Rs 800 crore via non-convertible debentures in two tranches.
Bajaj Finance: The company appointed Rajiv Jain as executive vice chairman and Anup Shah as MD effective April 1.
Share Market Live: F&O Cues
The Nifty March futures were up 0.95% to 23,069.90 at a premium of 9.6 points, with the open interest down 6.26%.
The open interest distribution for the Nifty 50 March 27 expiry series indicated most activity at 24,000 call strikes, and the 22,000 put strikes had the maximum open interest.
Securities in ban period: Hindustan Copper, IndusInd Bank, Manappuram Finance, Polycab, SAIL.
Stock Market Live: CLSA Sees Green Shoots Of Recovery
Observe that the Nifty, NSE Midcap and NSE Smallcap indices had started to show signs of stability and an attempt to base out.
This week we have seen a continuation of the improving price action.
Nifty closing above its 50 daily moving average for the first time since December.
Thursday’s close above its 50DMA, unlike December’s, has been reinforced with a new breadth thrust signal.
A breadth thrust signal fires when the percentage of Nifty stocks trading at their four-week highs reaches 55% or greater.
As of Thursday’s, 56% of Nifty constituents traded at a four-week high, the first time since November 2023.
There have been 38 breadth thrust signals since 2002.
Average returns 30-days, 90-days and 250-days post a breadth thrust signal have been Nifty gains of 3.8%, 7.8% and 13.4%, respectively, with a hit rate of 76.3%, 73.6% and 81.5%.
US Futures Live: S&P 500, Dow Jones Up
Futures contracts for US equity benchmarks are trading higher.
S&P 500: Up 0.06%
Dow Jones Industrial Average: Up 0.12%
Nasdaq 100: Up 0.16%
Asian Stock Markets Live: Nikkei Up, Hang Seng Down
Asian equities traded higher early Friday, even as markets remain uncertain about US President Donald Trump's next move in the trade war.
The Nikkei rose 0.3%, while Kospi was up 0.17%. Australia's S&P/ASX 200 gained 0.25%.
The Shanghai Composite index of mainland Chinese shares rose 0.12%, while Hang Seng was down 0.13%.
On Wall Street, the S&P 500 closed 0.2% lower. The Nasdaq 100 slid 0.3%. The Dow Jones Industrial Average was unchanged.
GIFT Nifty Live: Index Above 23,200
The GIFT Nifty was trading above 23,200 early Friday. The futures contract based on the Nifty 50 was up 16 points or 0.07% at 23,214 as of 7:30 a.m., indicating a higher open for the benchmark.
India's benchmark indices ended at their highest level in over a month on Thursday after the US Federal Reserve signalled more interest rate cuts later this year, seeing only a brief increase in inflation due to Trump's tariff policies.
The NSE Nifty 50 closed 283.05 points, or 1.24% higher at 23,190.65, while BSE Sensex ended 899.01 points, or 1.19% to end at 76,348.06.
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