Asian stock markets were mixed during early trade on Monday. Meanwhile, US index futures climbed on signs that the next round of President Donald Trump’s trade tariffs could be more measured than had previously been suggested.
Japanese shares fluctuated between gains and losses, while Australian and South Korean markets fell.
The Nikkei was up 0.1%, while S&P ASX 200 and Kospi declined 0.1%. Hang Seng futures were down 1.7%.
US futures rose, with contracts for S&P 500 and Nasdaq 100 up 0.6% and 0.8%. Dow Jones gained 0.5%.
Indian equities had their best weekly run in years on Friday as investors shrugged off negative global sentiments to chase attractive stocks hammered by a recent correction.
The NSE Nifty 50 closed 159.75 points or 0.69% higher at 23,350.40, while the BSE Sensex ended 557.45 points or 0.73% up at 76,905.51. During the day, the Nifty jumped to 23,402.70, while the Sensex rose to 77,041.94.
Foreign portfolio investors remained net buyers for the second straight day on Friday as they bought equities worth Rs 7,470.4 crore, the highest buying from the FPIs so far this year.
Domestic institutional investors remained net sellers of Indian equities for the second consecutive day as they net offloaded equities worth Rs 3,202.3 crore, according to provisional data from the National Stock Exchange.
Stocks To Watch
IndusInd Bank: The bank's board will need to find replacements for Chief Executive Officer Sumant Kathpalia by October, according to two sources cited by NDTV Profit.
Larsen & Toubro: The company has approved a long-term borrowing of up to Rs 12,000 crore via external commercial borrowings or other means. L&T has also appointed Subramanian Sarma as deputy managing director and president.
Godrej Properties: The company acquired acquired approximately 10 acres of land in Yelahanka, Bengaluru, with the revenue potential of Rs 2,500 crore.
Power Grid Corp: The company has acquired Chitradurga Bellary REZ Transmission after being selected as the successful bidder under the tariff-based competitive bidding.
Samvardhana Motherson International: It will make an investment of Rs 200 crore in its arm CIM Tools.
Reliance Industries: RIL's arm Nauyaan Tradings completed the acquisition of 74% stake in Nauyaan Shipyard for Rs 383 crore.
Salasar Techno Engineering: To review the proposed merger of EMC with the company on March 26.
Indian Hume Pipe: The company has completed the sale of nearly 10-acre land In Bengaluru for Rs 559 crore to arm Godrej SSPDL Green Acres.
JSW Energy: Ashok Ramachandran to resign as director due to personal reasons.
Ircon International: Conarch Associates has filed a Rs 159-crore claim against the company in an arbitral tribunal, relating to the Jayanagar-Bardibas Railway Project in Nepal.
DAM Capital Advisors: The company received an administrative warning and deficiency letter from SEBI, which advised it to be vigilant for certain operational related matters of institutional broking operations.
New India Assurance: The government appointed Kasturi Sengupta as executive director.
Huhtamaki India: The firm re-appointed Dhananjay Salunkhe as MD for three years from Aug. 12.
Adani Enterprises: Step-down arm incorporates Cococart International-FZCO in Dubai.
Allied Blenders & Distillers: The company added 15 lakh bulk litres capacity at Rangapur Plant in Telangana.
MSTC: The company received an order from Coal India for providing e-auction services.
Fortis Healthcare: Shrimann Hospitals and its partners restrain from consummating sale of Shrimann Hospital. The respondents are taking appropriate steps for an amicable settlement of all disputes with Cancer Treatment Services Hyderabad.
Sanghvi Movers: The company appointed Gaurang Desai as the CEO.
REC: The company will decide on a market borrowing programme for fiscal 2026 on March 26.
Insolation Energy: The company appointed Ravi Dusad as chief financial officer effective from March 22. Dusad will also serve as the CFO of arm Insolation Green Energy.
Hindustan Copper: The government appointed Sanjiv Kumar Singh as managing director and the CEO.
Adani Green: The company commissioned solar power project of 250 MW at Badi Sid & Kalyan Ki Sid, Rajasthan. With commissioning of this plant, AGEL’s total operational renewable generation capacity has increased to 13,091.1 MW.
SMS Pharma: USFDA inspected Hyderabad facility and issued Form 483 with one observation. The observation is procedural in nature and does not relate to data integrity or product quality.
Power Mech: The company announced an order win of Rs 579 crore from BHEL to be executed over 32 months.
Lemon Tree: The company signed two license agreements — Keys Select by Lemon Tree Hotels, Vrindavan, Uttar Pradesh and Keys Select by Lemon Tree Hotels, Navsari, Gujarat.
Alembic Pharma: USFDA inspected API-III Facility at Karakhadi, without any Form 483 observation.
Welspun Corp: Completed one of the stake sale transaction in subsidiary intimated earlier for which it received Rs 476 crore. The company has used the amount for debt repayment and is in a consolidated net cash position now.
Hindustan Organic Chemicals: The government has approved waiving off dues worth Rs 1,351 crore.
Max Healthcare: Two subsidiaries — Crosslay Remedies and Jaypee Healthcare — will merge.
Karur Vyasa Bank
Received tax demand of Rs 160.3 crore from Income Tax. The Bank is in the process of filing an appeal before first appellate authority.
Ola Electric: The company commenced deliveries of S1 Gen 3 Scooters across India.
Hindustan Aeronautics: Received payment notice of Rs 2,471 crore from Commissioner of State Tax, Govt of Maharashtra. As per the company, there is no financial impact as the entire amount is reimbursable from IAF.
Kotak Mahindra Bank: Announced appointments of multiple senior officials. Appointed Bhavnish Lathia as the new Chief Technology Officer, Vyomesh Kapasi, Head, Consumer Bank - Product, Pranav Mishra - Head, Consumer Bank - Distribution.
Precision Wires: The company will build recycling of Copper Waste and Scrap/Refining of Copper at Zaroli, Gujarat for na investment of Rs 188 crore.
NCC: The company won an order worth Rs 1,480 crore from Bihar Medical Services.
Epack Durables: The company received approval for disbursement of second tranche of funds under PLI scheme of Rs 30 crore.
Bulk/Block Deals
TBO Tek: Augusta TBO (Singapore) sold 46.29 lakh shares (4.26%) at Rs 1,200.04 apiece, Nippon India Mutual Fund bought 28.11 lakh shares (2.58%) at Rs 1,200 apiece, Tbo Korea Holdings Ltd. sold 26.2 lakh shares (2.41%) at Rs 1200.02 apiece, SBI Mutual Fund bought 8.78 lakh shares (0.8%) at Rs 1,200 apiece, ICICI Prudential Mutual Fund bought 7.83 lakh shares (0.72%) at Rs 1,200 apiece.
Wardwizard Innovations & Mobility: Yatin Sanjay Gupte sold 34 lakh shares (1.3%) at Rs 21.94 apiece.
Insider Trade
Pidilite Industries: Promoter Radha Singh sold 1,000 shares, Promoter Radha Singh sold 5,000 shares, Promoter Shivan Singh sold 1,000 shares, Promoter Shivan Singh sold 5,000 shares.
Steel Strips Wheels: Promoter Chandigarh Developers bought 22,644 shares on March 20.
Usha Martin: Promoter Peterhouse Investments India sold 50,000 shares on March 20.
NRB Bearings: Promoter Harshbeena Zaveri bought 4,850 shares on March 19.
Pondy Oxides & Chemicals: Promoter Ashish Bansal bought 7,500 shares on March 19 and 20.
Gandhar Oil Refinery (India): Promoter Ramesh Babulal Parekh bought 1.24 lakh shares on March 20.
Trading Tweaks
Price Band Changes From 10% To 5%: Transformers and Rectifiers (India).
Price Band Changes From 10% To 20%: Manorama Industries.
Price Band Changes From 20% To 10%: IKIO Lighting, SML Isuzu.
List Of Securities Shortlisted In Short-Term ASM Framework: Garden Reach Shipbuilders & Engineers, IKIO Lighting, Vibhor Steel Tubes.
List Of Securities To Be Excluded From ASM Framework: IndusInd Bank.
Also Read: Talking Point This Week — Mixed Feelings
Who's Meeting Whom?
HFCL: To meet analysts and investors on March 26.
Suryoday Small Finance Bank: To meet analysts and investors on March 26.
Welspun Corp: To meet analyst and investors on March 27
Sharda Cropchem: To meet analysts and investors on March 26.
Spencer's Retail: To meet analyst and investors on March 27
F&O Cues
Nifty March futures up 0.78% to 23,379 at a premium of 29 points.
Nifty March futures open interest down 6.89%.
Nifty Options March 27 Expiry: Maximum call open interest at 24,000 and maximum put open interest at 23,000.
Securities In Ban Period: Hindustan Copper, IndusInd Bank, Polycab India.
Currency Update
The Indian rupee closed stronger on Friday, appreciating by nearly 1% this week. The local currency strengthened by 39 paise to close at Rs 85.97 against the greenback, according to Bloomberg. It had closed at Rs 86.36 on Friday.
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