Good morning!
The GIFT Nifty is trading 1.43% higher at 24,359, indicating a positive open to the benchmark Nifty 50 index. The futures contracts for the S&P 500 are up 0.83% and and are lower for the Euro Stoxx 50 by 0.54%.
Market Recap
Indian equity benchmarks ended Monday's session off their intraday lows after crude oil prices retreated sharply from earlier highs, easing some pressure on global markets. The Nifty 50 closed 1.74% lower near the 24,000 mark, while the Sensex ended nearly 1,400 points lower around 77,500 after a volatile trading session.
Both indices had fallen much more sharply earlier in the day as the surge in oil prices and global market weakness triggered risk aversion among investors. The Sensex had dropped as much as 2,994 points, or 3.2%, to an intraday low of 76,424.55, while the Nifty declined as much as 3.1% to 23,597 before recovering part of the losses.
The selloff had pushed both benchmark indices into correction territory earlier in the session, with the Nifty falling more than 10% from its record high and the Sensex declining about 11% from its peak.
US Market Wrap
Wall Street mounted a strong reversal, with both stocks and bonds recovering as investors grew optimistic that the 10‑day conflict with Iran could soon wind down. Oil prices, which had earlier surged past $100, later dropped sharply in after-hours trading, as per Bloomberg reports.
The S&P 500 rose 0.8% after President Donald Trump told CBS that the situation was “very complete, pretty much,” noting that the military campaign was progressing well ahead of its initial four‑to‑five‑week schedule. The index swung from an earlier decline of more than 1.5%, marking its first such turnaround since April.
Asian Market Check
Asian equities recovered on Tuesday after the previous day's steep losses, while crude oil retreated as President Donald Trump suggested the Iran conflict could soon wind down — a shift that also helped Wall Street close on a strong note. Oil prices slid as much as 10%.
Markets in Japan, South Korea, and Australia posted notable gains, lifting the MSCI Asia Pacific Index by 1.7%. South Korea's Kospi rebounded sharply, rising as much as 5.5% after a 6% drop the day before. Major chipmakers Samsung Electronics Co. and SK Hynix Inc. each advanced more than 8%, mirroring the recovery in U.S. tech stocks as Trump's remarks drove oil prices lower.
Commodity Check
Oil prices sank after U.S. President Donald Trump signaled that the conflict with Iran could soon be resolved, as political and market pressure intensified over a war that has disrupted global energy flows and fueled fears of worsening inflation. Brent crude slipped below $92 a barrel, while West Texas Intermediate fell as much as 10%. Trump's comments added another burst of volatility to a market already experiencing sharp swings in recent days. Speaking late Monday, he said he intends to ease sanctions tied to Iranian oil and direct the U.S. Navy to provide escorts for tankers moving through the Strait of Hormuz.
Gold held steady while the U.S. dollar weakened following Trump's remarks that the Middle East conflict may be approaching a conclusion. Spot gold hovered near $5,140 an ounce in early trading, after dropping 0.6% in the previous session. Trump said he expected a resolution with Iran “very soon,” prompting further softening in the dollar, which slipped as much as 0.1% after already retreating on Monday.
Business Update
Bajaj Finserv – February Business Update:
- Bajaj General Insurance gross direct premium underwritten: Rs. 1,094 crore
- Bajaj Life Insurance total premium: Rs. 1,281 crore
M&M – February Business Update:
- Total production up 13.1% YoY at 94,550 units
- Total sales up 18.1% YoY at 96,718 units
- Exports up 11.4% YoY at 3,477 units
Stocks In News
- Tata Capital: The company's housing finance arm allots 1.3 crore shares worth Rs 650 crore to Tata Capital; there is no change in overall shareholding.
- MGL (Mahanagar Gas): The company to acquire a 26% stake in FPEL Reliant for Rs. 3.89 crore.
- Bandhan Bank : The Bank clarifies that it is unaware of the news report, has no undisclosed information or ongoing negotiations, and attributes the share‑price decline purely to market-driven factors.
- Optiemus Infracom: The company will buy 50 lakh shares of its arm, Optiemus Electronics, for Rs. 156 crore & 10.2 lk shares of GDN Enterprises on right basis.
- TCPL Packaging: The company signs an agreement to acquire a 26% stake in SPV Clean Max Hana.
- Hinduja Global Solutions: Uttar Pradesh's State Transformation Commission signs an MoU with the company's broadband vertical, OneOTT Intertainment, to roll out the GANGA digital inclusion project.
- Reliance Industries: Its arm, Reliance Retail, acquires the ‘Pahadi Local' brand.
- AGI Infra: The company closes its QIP and approves the allocation of 28 lakh shares at an issue price of Rs. 265 per share.
ALSO READ: 'Stay Calm': SEBI Chair Urges Investors To Avoid Panic Reactions Amid Iran War Volatility
- Arvind: Susheel Kaul resigns as Managing Director due to personal reasons.
- Manorama Industries: The board will meet on March 12 to consider raising funds.
- Devyani International: The company completes acquisition of an additional 11.4% stake in Sky Gate for Rs. 57.5 crore; Sky Gate becomes its subsidiary.
- Suven Life Sciences: Promoter Jasti Property & Equity Holdings buys a 4.17% stake, increasing promoter shareholding to 70.15%.
- Torrent Power: The company allots 2 lakh NCDs worth Rs. 2,000 crore on a private placement basis.
- Tata Power: The company invests Rs. 50 crore as the first tranche to acquire a 40% stake in Dorjilung Hydro Power, part of a planned total investment of nearly Rs. 1,572 crore.
- Ola Electric: Launches #ChampionMahotsav offering benefits worth Rs. 10,000 across its vehicle portfolio, marking India's ICC Men's T20 World Cup victory.
- SJVN: Nathpa Jhakri Hydro Power Station crosses the 150 billion‑unit generation milestone.
- Prestige Estates: Issues a corporate guarantee of up to Rs. 400 crore for a term‑loan facility availed by its JV, Canopy Living LLP.
- Swan Defence: Promoter Hazel Infra to sell a 5% stake via OFS.
- Oil India: Bhupinder Kumar appointed as Government Nominee Director.
- NTPC Green: Second part of the Andhra Solar PV project begins operations.
- RailTel: Clarifies that its MoU with GAIL to build a digital‑infrastructure backbone is non‑binding and no definitive terms have been finalised.
- WeWork India: Enters a lease deed for capacity addition in Chennai with an estimated investment of nearly Rs. 35 crore.
ALSO READ: Iran War Jitters Send India VIX Soaring Nearly 100% In A Month — Bears To Dominate Nifty?
- Insolation Energy: Celebrates migration/direct listing from the BSE SME platform to the NSE main board.
- NSE Circular: Six stocks added to F&O effective April 1, Adani Power, Cochin Shipyard, Hyundai Motor, MOFS, Nippon Life, Vishal Mega Mart.
- Advait Energy Transitions: Clarifies it was the lead bidder for a DGVCL project and confirms no new order was awarded by DGVCL
- Balu Forge Industries: The company approves the allotment of 17.1 lakh shares at an issue price of Rs. 360 per share.
- Lemon Tree Hotels: The company signs an agreement to operate a 76‑room hotel in Uttar Pradesh.
- Tilaknagar Industries: The company appoints Ina Bajwa as Chief People Officer.
- SBFC Finance: The company re‑designates Mahesh Dayani as Managing Director & CEO and Aseem Dhru as Executive Vice‑Chairman.
- Alembic Pharmaceuticals: The company incorporates a new arm, Alembic Pharmaceuticals (Thailand).
- Dixon Technologies: MeitY approves the acquisition of a 26% stake in its arm, Dixon Display Technologies, by HKC Overseas. Post‑deal, the arm becomes a JV; Dixon will hold 74% in the entity.
- TCS: TPG Terabyte is allotted shares of HyperVault and now holds a 49% fully diluted stake. HyperVault receives Rs. 199 crore from TPG Terabyte and ceases to be a subsidiary of TCS.
- Minda Corporation: The company signs an agreement with Turntide to form a joint venture aimed at delivering next‑generation EV powertrain solutions.
- Akzo Nobel India: The company receives a draft assessment order proposing an addition of Rs. 112 crore to income for FY24.
- Power Grid Corporation:
- To raise up to Rs. 5,000 crore via a loan from Union Bank of India
- Approves an investment of Rs. 234 crore to set up a Centralized Security Operations Center
- Gets in‑principle approval to sell its entire stake in Central Transmission Utility of India
- Approves alliances with Africa50 and Uganda Development Bank
- Approves pact to develop a transmission project in Uganda
- CMS Info Systems: The company completes the acquisition of an additional 25,639 CCPS in Securens Systems at Rs. 158.41 per share.
- Jagsonpal Pharmaceuticals: The board will meet on March 12 to consider a proposal for share buyback.
- Onix Solar Energy: The company approves allotment of 45.7 lakh shares at an issue price of Rs. 546 per share to eligible shareholders.
- ACME Solar: The company's arm, ACME Eco Clean Energy, receives a commissioning certificate from GEDA for 4 MW out of the 100 MW Gujarat wind project
IPO Offering
Rajputana Stainless
Engaged in manufacturing long and flat stainless-steel products.
IPO Update (Day 1):
- Overall subscription: 30%
- QIB subscription: 99%
- NII subscription: 65%
- Retail subscription: 4%
ALSO READ: Warburg Pincus-Backed Truhome Finance Files DRHP For IPO To Raise Rs 3,000 Crore
IPO To Open
Innovision Limited: The Company provides manpower services, toll plaza management, and skill development training to clients across India. The Company's shares are set to open on 10th March 2026, with the IPO closing on 12th March 2026. The IPO is of size Rs. 322 crores (Fresh Issue: Rs. 255 crores & OFS: Rs. 67 crores) and has a price band of Rs. 521 to Rs. 548 per share.
Bulk & Block Deals
- Rane Holdings: CHINMAY G PARIKH sold 77,795 shares, SANDHYA G PARIKH bought 77,858 shares for Rs. 1,173 per share.
- Anthem Biosciences: HDFC MUTUAL FUND bought 60.75 lk shares, SBI MUTUAL FUND bought 32.26 lk shares, VIRIDITY TONE sold 2.03 crores shares for Rs. 621.11 per share.
- Arvind SmartSpaces: HDFC CAPITAL AFFORDABLE REAL ESTATE FUND-1 sold shares and PIROJSHA ADI GODREJ bought 8.17 lk shares for Rs. 498 per share.
Insider Trades/Pledge
- Deccan Gold Mines: RAMA MINES MAURITIUS, Promoter, sold 43,772 shares
- MSP Steel & Power: Ilex, Promoter Group , bought 8.04 lk shares, Jagran Vyapaar, Promoter Group, bought 93,000 shares, Shree Vinay Finvest, Promoter Group, bought 9 lk shares.
- NCC: Sirisha Projects, Promoter, bought 85,000 shares
- Paradeep Phosphates: ZUARI MAROC PHOSPHATES, Promoter, bought 90,000 shraes
- Responsive Industries: Fairpoint Tradecom, Promoter Group, pledged 26.5 lk shares
- List of securities shortlisted in Short - Term ASM Framework Stage: Jindal Poly Films
- List of securities to be excluded from ASM Framework: Mahindra Logistics, Yatra Online
F&O Cues
- Nifty March futures is down 1.86% to 24,090.10 at a premium of 62.05 points.
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