Stock Market Today: All You Need To Know Before Going Into Trade On March 12

Good morning!

The GIFT Nifty is trading 0.41% lower at 23,796, indicating a flat to negative open to the benchmark Nifty 50 index. The futures contracts for the S&P 500 are down 0.08% and and are lower for the Euro Stoxx 50 by 0.70%.

Market Recap

Indian equity benchmarks resumed their decline on Wednesday after a brief recovery in the previous session, as rising crude oil prices and weak global cues weighed on sentiment. The NSE Nifty 50 dropped 1.6% to settle below the 23,900 mark, while the BSE Sensex fell more than 1,300 points to close marginally above 76,863.

The decline in benchmark indices erased nearly Rs 3.2 lakh crore in market capitalisation among companies in the Nifty 50 index during the session.

US Market Wrap

Wall Street traders kept both equities and bonds in check as they sifted through fresh geopolitical developments, while oil prices surged. The decision by wealthy nations to tap their strategic reserves was seen as only a temporary buffer against the ongoing conflict in Iran.

Meanwhile, inflation data—collected before the crisis escalated—came in softer than expected but did little to encourage risk-taking. The S&P 500 fluctuated throughout the session, and Treasury yields rose, reinforcing expectations that the Federal Reserve is likely to deliver just one rate cut this year.

Asia Market Update

Asian equities slid on Thursday, adding to an already turbulent week, as a fresh surge in oil prices and growing stress in the private credit market dampened investor confidence.

Futures tracking the S&P 500 fell 0.8%, while a broad index of Asian stocks declined as much as 1.1% in early trading.

Commodity Check

Gold extended its decline for a second straight session after U.S. inflation figures reduced expectations for interest‑rate cuts, while the conflict in the Middle East drove oil prices higher. The metal slipped as much as 1% in early trade, following a 0.3% drop the previous day.

Oil prices advanced for a second straight day after another volatile session, as traders concentrated on the extensive supply disruptions caused by the war in Iran. Even the record-sized release of emergency reserves failed to ease market tensions.

Brent crude jumped as much as 7.9% to $99.24 a barrel, while West Texas Intermediate hovered near $94. The crucial Strait of Hormuz remains largely shut, prompting major Gulf producers to slash output sharply. Several vessels have also come under attack near the narrow chokepoint, highlighting the escalating risks for global shipping.

Stocks In News

• UFlex: The company develops over 100 variants of new sustainable products across six facilities. The Americas market continues to witness demand softness
• Borosil: Production at the borosilicate glass furnace has been temporarily suspended. Opal glass furnaces are operating at lower capacities. The company is coordinating with OMCs and the government for LPG supplies and is evaluating the overall impact of the disruption.
• Ashok Leyland: The company breaks ground for a new battery‑pack manufacturing facility in Tamil Nadu with an investment outlay of Rs. 400–500 crore.
• Wipro: Signs a multi‑year contract with TruStage to modernise its retirement services operations.
• Servotech Power Systems: The Company along with Electra EV, secures a joint patent for a low‑voltage EV charging device.
• PFC: The board will meet on March 17 to consider raising funds and also to consider the declaration of an interim dividend.
• SBI Life: Receives an income‑tax assessment order of Rs. 538 crore. The company plans to file an appeal and does not expect any adverse operational impact.
• MSP Steel & Power: The board will meet on March 14 to consider a fundraising proposal.
• Canara HSBC Life: Signs a corporate agency agreement with Bihar Gramin Bank to distribute its insurance products.
• Omnitech Engineering: Receives USD 20 million from Weatherford Products GmbH under a master purchase agreement.
• V2 Retail: Sets March 26 as the record date for its stock split.
• Phoenix Mills: Allots 70 lakh Class A equity shares of Torrent. Its arm, Classic Mall, now holds a 34.23% stake in Torrent.
• Hatsun Agro: NCLT sanctions the merger of its arm, Milk Mantra Dairy, with the company.
• Morepen Labs: Kotak Mahindra Bank confirms that all credit facilities have been fully repaid; the bank is issuing a No‑Dues Certificate.
• Craftsman Automation: Approves the merger of one or more arms into subsidiary DR Axion India and approves the draft scheme to merge DR Axion into Sunbeam Lightweighting Solutions, another subsidiary.
• Jubilant FoodWorks: The company commences commercial production from its new commissary facility in Raigad.
• Digitide Solutions: The company incorporates a new arm, Digitide IT Solutions LLC SOC.
• 3M India: The company highlights in its investor presentation that it is serving customers through four business groups, launching new “For‑India” products for priority markets, and expanding capacity with new manufacturing lines for select portfolios.
• Redington: The Income Tax Department quashes the tax demand of Rs. 230 crore on the company.
• Relaxo Footwears: Prince Jain resigns as the company's Chief Financial Officer.
• Satin Creditcare: The board will meet on March 16 to consider raising funds via NCDs.
• Indo Count Industries: The Maharashtra tax authorities initiate an inspection at the company's premises;
• KEC International: The company secures transmission & distribution (T&D) orders worth Rs. 1,476 crore, including its largest composite T&D order in Saudi Arabia.
• Punjab National Bank: RBI imposes a fine of Rs. 5.7 lakh on the bank for a shortage of notes at a currency chest.
• Indo Tech Transformers: A Rs. 65 crore order from Renew Wind Energy has been cancelled; the company states there is no impact as manufacturing had not commenced.
• UNO Minda: Receives a GST demand of Rs. 126 crore from the Tamil Nadu tax authorities.
• Shriram Finance: Its arm, Shriram Overseas, divests its entire 81.6% stake in Bharath Investments.
• Omaxe: The company's arm receives RERA registration certificates for four residential projects in Mohali.
• Piramal Finance: Highlights that it remains on track to achieve Rs. 1.5 lakh crore AUM by FY28 and has delivered steady profit growth over the past eight quarters
• Adani Enterprises:The company's arm, ADSTL, completes acquisition of a 14.2% stake in Air Works India (Engineering) at an enterprise value of Rs. 400 crore.
• Uniparts India: Rohit Maheshwari resigns as CFO; Sandeep Taneja appointed as Group CFO.
• InfoBeans Technologies:
• Lumax Auto Technologies: NCLT approves the scheme of amalgamation between Lumax Ancillary and the company.
• MGL: The company reduces supply to industrial and commercial customers in line with government directives; commercial customers impacted.
• InfoBeans Technologies:The company expects to remain neutral to slightly cautious; operates in the Middle East via its Dubai office.
• • MENA contributes ~7–8% of consolidated revenue
• • No offices or operational presence in Israel
• The company reappoints Siddharth Sethi as Managing Director.
• UGRO Capital: Approves issuance of NCDs worth Rs. 365 crore on a private‑placement basis.
• Aether Industries: A fire broke out at external warehouses; operations at company facilities remain normal. No injuries reported.
• Arihant Foundations: Approves allotment of 110 NCDs worth Rs. 110 crore on a private‑placement basis.
• Motherson: The Company completes tender offer, acquiring majority control of Yutaka & Shinnichi
• Stanley Lifestyles: Shareholders approve the appointment of Venkataramana Seshagirirao Gorti as Joint Managing Director.
• Ramky Infrastructure: The company plans to acquire a business in the water and wastewater management segment in India.
• AFCom Holdings: The company receives DGCA registration for its third aircraft.
• BLS International Services: The company's arm acquires 100% stake in BLSEC S.A.S.
• Bharat Forge: The company invests Rs. 160 crore in its arm, Bharat Forge Global Holding.
• Adani Enterprises: The company's arm, Adani Defence Systems & Technologies, completes the transfer and acquisition of the defence unit from Punj Lloyd.
• Union Bank of India: The board will meet on March 16 to consider issuing long‑term bonds for infrastructure and affordable‑housing financing, along with considering issuance of green bonds.
• Jindal Steel: The company is declared the preferred bidder for an iron‑ore block in Odisha.
• Dalmia Bharat: Tribunal reduces the company's tax demand to Rs. 92.5 crore from the earlier Rs. 700 crore.

IPO Offering

Rajputana Stainless
Engaged in manufacturing long and flat stainless-steel products.

IPO (Day 3):
• Overall subscription: 1.12X
• NII: 2.59X
• QIB: 2.51X
• Retail: 27%

Innovision Limited
Provides manpower services, toll plaza management, and skill development training to clients

(Day 2):
• Overall subscription: 12%
• QIB: 96%
• NII: 19%
• Retail: 6%

Bulk & Block Deals    

Apollo Pipes: S GUPTA HOLDING bought 3.50 lk shares for Rs. 402.98 per share
Sri Lotus Developers & Realty: MOHAMED IRFAN MOHAMED LATIF SHAIKH bought 25.3 lk shares for Rs. 140.47 per share

Corporate Actions

Board Meeting 
Brookfield India Real Estate Trust - Fund Raising
Manorama Industries Limited - Fund Raising
Max Financial Services Limited - Fund Raising

Lock In

GK Energy: 6 months lock in, 0.7 mn lock in shares, 0.3% of total outstanding shares
Amanta Healthcare: 6 months lock in, 1 mn lock in shares, 2% of total outstanding shares

Insider trade

Authum Investment & Infrastructure: Mentor Capital, Promoter, bought 1.03 lk shares 
Choice International: Patodia Properties, Promoter Group, revokes pledge of 10.20 lk shares
HCL Technologies: Vama Sundari Investments Delhi, Promoter, bought 1.68 lk shares
IRB Infrastructure Developers: IRB Holding, Promoter Group, bought 33 lk shares 
MSP Steel & Power: Ilex, Promoter Group, bought 8. 40 lk shares, Jagran Vyapaar, Promoter Group, bought 1.26 lk shares, Sampat Marketing Company, Promoter Group, bought 17.87 lk shares
Natco Pharma: SATYA VANI NANNAPANENI, Promoter Group, sold 45,000 shares, SANJAY NANNAPANENI, Promoter Group, sold 70,000 shares
Sanstar: SAMBHAV STARCH PRODUCTS, Promoter Group, bought 36,000 shares, Richa Sambhav Chowdhary, Promoter Group, bought 50,000 shares
Zensar Technologies: STEL HOLDINGS, Promoter Group, bought 71,940 shares

Additional Surveillance Measure (ASM)

List of securities to be excluded from ASM Framework:  Gokaldas Exports, Garware Hi-Tech Films, Pokarna, Servotech Renewable Power System

F&O Cues

Nifty March futures is up 1.17% to 24,405.70 at a premium of 144.1 points.

Currency Check

The rupee declined 16 paise to settle at 92.01 (provisional) against the US dollar on Wednesday, weighed down by a sharp rise in global crude oil prices and a stronger greenback as the war in the Middle East raged on.

ALSO READ: Trade Setup For March 12: Nifty Support Slips To 23,700 Level As Iran War Keeps Market On Tenterhooks

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