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Asia Market Check
Asian markets opened higher on Wednesday as investors assessed the ongoing Middle East war. Japan's Nikkei 225 jumped 1.4%, while the Topix added 1.2%. South Korea's Kospi advanced 2.5% and Australia's S&P/ASX 200 rose 0.35%. Hong Kong Hang Seng index futures were flat.
Wall Street Wrap
US stocks inched lower on Tuesday, wiping out earlier gains, as conflicting reports about shipping in the Strait of Hormuz weighed on investor sentiment. The S&P 500 closed down 0.2% after paring a gain of as much as 0.7%. The tech-heavy Nasdaq 100 closed little changed.
Commodities Check
Oil gave up earlier gains and fluctuated after a Wall Street Journal report that the IEA is proposing the largest release of reserves in its history to tackle elevated prices triggered by the Iran war. The oil release would exceed the 182 million barrels that International Energy Agency members put onto the market in 2022 after Russia invaded Ukraine, the WSJ reported. Brent futures for May settlement was 0.3% lower at $87.52 a barrel in Singapore and WTI contracts for April delivery dipped 0.4% to $83.09 a barrel.
India Market Recap
The Nifty 50 rose 0.97% to settle at 24,261.60, while the Sensex ended 0.82% higher at 78,206. Both indices traded higher through the session. The Nifty climbed as much as 1.05% intraday to 24,280.80, while the Sensex rose up to 1.04% to 78,375.33 before paring some gains toward the close.
Market sentiment improved after crude oil prices fell sharply following Monday's historic surge that had briefly pushed prices close to $120 per barrel. WTI crude dropped to about $86 per barrel on Tuesday, while Brent crude traded near $90 after the sharp reversal.
Stocks In News
- Dr. Lal PathLabs: NCLT approves the voluntary liquidation of its arm, Suburban Diagnostics.
- TVS Supply Chain: Sets up a 40,000 sq. ft warehousing facility near Chennai in a Free Trade & Warehousing Zone to support Caterpillar's global supply operations.
- Allcargo Logistics: The company approves utilisation of funds for general corporate purposes
- Devyani International: The company approves the merger of three subsidiaries, Sky Gate, Blackvelvet, and Say Chefs - into Devyani International.
- TIPS Music: Hari Nair resigns as CEO effective April 30.
- HG Infra Engineering: The company receives an order worth Rs. 401 crore from Anuppur Thermal Energy for civil works in Madhya Pradesh.
- VIP Industries: The company appoints Rahul Poddar as CFO; Manish Desai relinquishes the position.
- Paushak: Chintan Gosaliya resigns as Whole‑time Director effective March 31; Jain Parkash appointed as Additional & Whole‑time Director effective April 1.
- Ola Electric: Launches Champions Edition of S1 Pro+ and Roadster X+, available only until end‑April.
- GAIL: Rohit Mathur appointed as Government Nominee Director.
- Arvind SmartSpaces: Acquires a new residential high‑rise project in Bengaluru with top‑line potential of Rs. 330 crore.
- Adani Enterprises: The company's arm completes acquisition of a 49% stake in DPJ TOT and acquires 100% OCRPS at an enterprise value of Rs. 1,342 crore.
- Infosys: Signs an agreement with Incora to strengthen AI‑enabled supply chain operations.
- MedPlus Health: The company's arm receives a drug‑license suspension order for a store in Odisha.
- InterGlobe Aviation (IndiGo): CEO Pieter Elbers resigns.
- Mazagon Dock: Total order book as of Dec 31 stands at Rs. 23,758 crore; the company becomes the only shipyard to be conferred Navratna status.
- Eicher Motors: The company appoints B. Srinivas as MD & CEO of VECV and Vinod Aggarwal as Chairman of VECV.
- Aditya Birla Capital: Invests Rs. 750 crore in its arm, Aditya Birla Housing Finance, via rights issue.
- Orkla India: Dissolves its IPO Committee.
- HPCL: Appoints Vikram Saxena as Government Nominee Director.
- Privi Speciality Chemicals: The company will invest Rs. 1.8 crore via SPV Radiance MH Sunrise Eleven.
- Polycab India: Income Tax Department reduces tax demand to Rs. 57.6 crore from Rs. 327 crore.
- NTPC Green: To begin commercial operations for 270 MW capacity of the 1,200 MW Khavda‑II project on March 11.
ALSO READ: Pieter Elbers Resigns As IndiGo CEO Months After FDTL Row Crippled Operations
- Waaree Energies: The company's US arm will purchase 53.7 lakh preference shares in a US solar company for USD 30 million.
- Waaree Renewable Technologies: Secures an EPC order for a 300 MWac solar PV plant.
- Central Bank of India: Renews its co‑lending partnership with Capri Global.
- Morepen Labs: Approves availing an unsecured working‑capital term loan facility of Rs. 30 crore.
- Hindustan Zinc: Enters into an agreement with CMR Green Tech for zinc‑alloy manufacturing.
- Websol Energy System: Board to meet on March 13 to consider warrant conversion and allotment of shares.
- Panacea Biotec: Tribunal deletes all expense disallowances and cancels the Rs. 329 crore tax demand.
- Protean eGov Technologies: Receives a tax demand of Rs. 22 crore from the Mumbai tax authorities.
- JSW Infrastructure: The company's arm, JSW Port Logistics, commences interim operations at a rail siding in Karnataka.
- Whirlpool: Completes acquisition of the remaining 3.18% stake in Elica India, taking total shareholding to 100%.
- Godavari Biorefineries: Granted a Japanese patent for treating viral infections.
- Choice International: To acquire a 50% stake in its arm, Choice Insurance Broking India, for Rs. 62.5 crore.
- Brigade Enterprises: Enters the industrial real‑estate segment with the launch of a 25‑acre industrial project in Bengaluru.
- Kirloskar Oil Engines: Atul Kirloskar will cease to be Chairman from March 31 as he declined to renew his term. Rahul Kirloskar was appointed Chairman effective April 1. Gauri Kirloskar appointed Vice‑Chairperson effective April 1.
- Ashoka Buildcon: The Company declares February 28 as the commercial operation date for a 2.7 km stretch of an NHAI project; its SPV receives provisional certification for completing a 52.9 km stretch.
- AGI Infra: Approves allotment of 28 lakh shares to QIBs at an issue price of Rs. 265 per share.
- Dollar Industries: Receives an no adverse observations letter from BSE regarding the proposed scheme of amalgamation of its arms.
- Metropolis Healthcare: Sets March 20 as the record date for its 3:1 bonus share issue.
- Ram Ratna Wires: Receives a tax demand of Rs. 71 crore from the Vadodara tax authorities.
- Imagicaaworld Entertainment: The company will launch India's first Hello Park in Hyderabad.
- Bosch Home Comfort: Gas‑supply disruptions are expected to partially impact production output; the impact cannot be quantified at this stage.
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- Capri Global: Approves a fund‑raising proposal of Rs. 2,000 crore via NCDs in one or more tranches.
- Kesar India: The company's arm incorporates a new subsidiary, Oriole Trading FZ‑LLC, in the UAE.
- Fino Payments Bank: ICRA places the bank's rating on ‘Watch with Developing Implications.'
- Reliance Industries: The company says it is taking steps aligned with government guidelines to maximise LPG production. Natural gas from the KG‑D6 basin will be diverted to support priority sectors and ensure stable domestic LPG supply.
- Piramal Finance: Through its arm, Piramal Imaging SA, the company receives USD 148 million and may receive additional amounts in the coming years.
- Embassy Developments: Its non‑operational step‑down arm, Lenus Constructions, is voluntarily struck off.
- Arihant Foundations: Approves issuance of a corporate guarantee for a Rs. 400 crore term‑loan facility.
IPO Offering
- Rajputana Stainless: The company is engaged in manufacturing long and flat stainless-steel products. The public issue was subscribed 42% on day two. The bids were led by Qualified institutional investors (99%), non-institutional investors (94%), retail investors (11%).
- Innovision Limited: The company provides manpower services, toll plaza management, and skill development training to clients. The public issue was subscribed 2% on day one. The bids were led by Qualified institutional investors (96%)and retail investors (2%).
IPO To Open
Raajmarg Infra Investment Trust: The Company acquires, operates, & maintains road infrastructure assets.
The Company's shares are set to open on 11th March 2026, with the IPO closing on 12th March 2026. Entirely a fresh issue of Rs. 6,000 crores. Price band set at Rs. 99 to Rs. 100 per share.
Listing
SEDEMAC: Specialized in control electronics. It designs and manufactures powertrain controllers, motor control products, and integrated starter-generator solutions for automotive and industrial applications. The company's shares will debut on the stock exchange on Wednesday. The public issue was subscribed 2.68 times on day 3. The bids were led by Qualified institutional investors (8.46 times), non-institutional investors (0.77 times), retail investors (0.20 times).
Bulk & Block Deals
- Apollo Pipes: BANDHAN MUTUAL FUND sold 2.50 lk shares for Rs. 395.7 per share and 2.50 lk shares for Rs. 410.72 per share
- Nazara Technologies: MORGAN STANLEY ASIA SINGAPORE PTE bought and THINK INDIA OPPORTUNITIES MASTER FUND LP sold 28.85 lk shares for Rs. 239.8 per share
- Styrenix Performance: MOTILAL OSWAL MUTUAL FUND sold 4.17 lk shares for Rs. 1,884.00 per share
- Aegis Vopak Terminals: BNP PARIBAS FINANCIAL MARKETS bought, and MORGAN STANLEY ASIA SINGAPORE PTE sold 15.92 lk shares for Rs. 192.38 per share
- Nazara Technologies: MORGAN STANLEY ASIA SINGAPORE PTE bought and THINK INDIA OPPORTUNITIES MASTER FUND LP sold 28.85 lk shares for Rs. 239.8 per share
- Federal Bank: SOCIETE GENERALE bought and BNP PARIBAS FINANCIAL MARKETS sold 33.98 lk shares for Rs. 276 per share
- Indian Bank: SOCIETE GENERALE bought and BNP PARIBAS FINANCIAL MARKETS sold 6.80 lk shares for Rs. 925 per share
- National Aluminum: SOCIETE GENERALE bought and BNP PARIBAS FINANCIAL MARKETS sold 14.28 lk shares for Rs. 388 per share
- State Bank of India: SOCIETE GENERALE bought and BNP PARIBAS FINANCIAL MARKETS sold 4.49 lk shares for Rs. 1,114 per share.
Insider Trade
- Star Cement: Prem Kumar Bhajanka, Promoter & Director, bought 98,407 shares
- Maharashtra Seamless: Global Jindal Fin-Invest, Promoter Group, bought 20,000 shares
- Advanced Enzyme Technologies: Vasant Rathi, Promoter & Director, bought 1.40 lk shares
Additional Surveillance Measure (ASM)
- List of securities shortlisted in Short - Term ASM Framework Stage: DEE Development Engineers, Hindustan Oil Exploration Company, Jindal Drilling and Industries.
F&O Cues
- Nifty March futures is up 1.17% to 24,405.70 at a premium of 144.1 points.
- Securities in ban period: SAIL, SAMMAANCAP
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