Good morning!
The GIFT Nifty, an early indicator for the benchmark Nifty 50, is up 0.3% at 23,320 as of 7:20 a.m. Equity-index futures for the US and Europe also advanced.
Asia Market Update
Asian markets fell Monday as investors assess elevated oil prices and the latest developments in the escalating U.S.-Iran conflict. Japan's Nikkei 225 fell 1.07%, while the Topix slid 0.98%. South Korea's Kospi was unchanged, while the Kosdaq fell 1.72%. Hong Kong's Hang Seng index fell 0.3%, while the CSI 300 was down 0.31%. Australia's S&P/ASX 200 declined 0.44%.
Commodities Check
US crude prices topped $100 per barrel as the Trump administration weighs military strikes on Tehran's Kharg Island, a strategically vital hub often referred to as Iran's 'oil lifeline'. Brent prices, the international benchmark, were up 0.48% to $103.7 per barrel.
Gold wavered, as the conflict in the Middle East entered a third week and investors weighed a softer dollar against continued threats to global oil supplies. Spot gold edged up 0.1% to $5,022 an ounce in Singapore. Silver rose 0.8% to $81.23.
Wall Street Recap
The S&P 500 index closed 0.6% lower on Friday, declining for a third-straight week, its longest losing streak in a year. The tech-heavy Nasdaq 100 Index fell 0.6%, also falling for a third week.
India Market Recap
Indian equities had their worst week since June 2022 as escalating conflict in the Middle East and higher energy prices soured investor sentiments. The Nifty and Sensex ended over 5% lower for the week.
The Nifty 50 closed 488 points or 2.06% lower at 23,151.10. The BSE Sensex shed 1,470 points or 1.93% to settle at 74,563.92. Larsen and Toubro, Hindalco Industries and Tata Steel were the top losers on the benchmark indices
The rupee closed at a record low of 92.46 to the dollar, weakening 26 paise or 0.3%, even as reports said the RBI stepped in to curb volatility.
ALSO READ: Trade Setup For March 16: Nifty Decline Likely To Continue, Key Support Lies At 22,700-22,400
Stocks In News
- Asian Granito: The board appoints Dibyendu Dey as the Chief Financial Officer.
- A B Infrabuild: The company secures a Rs 66.96 crore order from the Indian Railways.
- SEAMEC: A consortium involving the company secures a major order worth Rs 410.7 crore from ONGC.
- Jio Financial Services: IRDAI grants a certificate to its joint venture, Allianz Jio Reinsurance (AJRL), to commence operations as a reinsurance company.
- Advait Energy Transitions: The company inaugurates its 30 MW Alkaline Electrolyser assembly facility.
- City Union Bank: The bank opens five new branches (Delhi, Lucknow, and Vikarabad), bringing its total branch network to 925.
- GMR Airports: The company receives a Letter of Award (LoA) to upgrade the Cargo Terminal 1 at Delhi Airport.
- JK Lakshmi Cement: The company is declared the preferred bidder for the Umrangso Limestone Block in Assam.
- Salasar Techno Engineering: The company reports that production and EPC operations are adversely impacted due to a current restriction in LPG supply.
- Bank of Baroda: The bank incorporates two new arms: BOB Securities and Giltedge.
- Ravindra Energy: The company provides a corporate guarantee for a financial assistance facility availed by ‘Energy In Motion'.
- Deep Industries: The company enters into a pact with Advait Greenergy to collaborate on green hydrogen projects.
ALSO READ: CMPDI IPO: Coal India Arm's Offer To Make Primary Market Debut On March 20 — Check Details
- S H Kelkar: The company approves the sale of a 17% stake in its Italian arm, CFF Keva Italy S.p.A, for 12.5 million Euros.
- CESC: The company incorporates a new arm, Purvah Bikaner - V Two Power.
- Bajel Projects: The company secures an "ultra-mega" order from the Maharashtra State Electricity Transmission Co (MSETCL) for a 400/220 kV substation.
- Voltas: The Mumbai tax body has initiated a GST inspection at the company's premises; management is fully cooperating with the authorities.
- Ramky Infra: Its arm, Maha Integrated Life Sciences (MILeS), signs a concession pact with MIDC to develop a Rs 3,000 crore high-tech pharma park.
- Lloyds Metals and Energy: The company approves the allotment of equity shares following the conversion of preferential warrants by non-promoters.
- Dr. Reddy's Labs: The company will discontinue a specific clinical trial following a recommendation from the Independent Data Monitoring Committee (IDMC) after a futility analysis.
- AvenuesAI: The company approves the conversion of 18.5 lakh partly paid-up shares into fully paid-up equity shares.
- Sterling and Wilson Renewable Energy: Maharashtra state tax officials conclude their search at the company's offices with no impact on operations.
- Shriram Pistons & Rings: Shareholders approve the proposal to change the company's name.
- Brigade Enterprises: Its managed office brand, BuzzWorks, leases office space in Hyderabad to MyComplianceOffice.
- Shipping Corporation of India (SCI): On appeal, the company's GST demand has been significantly reduced to Rs 60 crore from Rs 160 crore.
- KRN Heat Exchanger: The board approves raising Rs 500 crore via QIP and re-appoints Santosh Kumar Yadav as CMD.
ALSO READ: IDBI Bank Sale Called Off On Unviable Bids: Govt Sources
- NMDC: The company receives DIPAM approval to incorporate a wholly-owned arm in GIFT City.
- Lumax Auto Technologies: NCLT approves the merger of Lumax Ancillary with the company.
- Federal Bank: The bank launches a "Capital Gains Account Scheme" for its customers.
- P N Gadgil Jewellers: The company opens a new store in Navi Mumbai, taking its total store count to 70.
- Nestle India: Shareholders approve the appointment of Edouard Dominique Jean Mac Nab as the CFO and Executive Director for 5 years.
- Jubilant Ingrevia: The company will acquire a 100% stake in Remidex Pharma for Rs 16.5 crore.
- Inventurus Knowledge Solutions: The company plans to invest up to $40 million in its US-based arm.
- PDS: Its arm acquires the remaining 25% stake in PDS Radius UAE for a nominal consideration of Rs 6 lakh.
- India Glycols: The Appellate Authority partially allowed the company's appeal but upheld a tax demand order.
- HLE Glascoat: The company successfully commissions its new captive power generation facility in Gujarat.
- GE Power India: Aashish Ghai resigns as the CFO and Whole-Time Director, effective May 13.
- Narayana Hrudayalaya: Company incorporates arm practice plus group property.
- GAIL India: GAIL India Ltd. is expected to conduct the first phase purchase by Tuesday.
- Axis Bank: Consumer panel directs to pay Rs 3.19 cr over refusal to accept demonetised notes in 2016
- Alkem Labs: Gets EU GMP Certificate for mfg facility at Baddi
- Nippon Life: AMC-DWS to acquire 40% stake worth Rs 733cr in AIF arm
- MedPlus Health Services: Arm gets 3 Suspension orders For Drug License For Stores In Karnataka, Telangana and Andhra Pradesh.
- Aster DM Healthcare: Nursing staff in hospitals in Kerala participating in statewide strike from march 9+incurred revenue loss of Rs 17.7 crore from march 8-13 due to nurse strike.
- Zydus Life: Desidustat tablets approved for renal anaemia by China Medical Authority.
- Fino Payments Bank: Records highest ever total deposit balance of Rs 2,900 crore +deposit balances grew approximately 9% over past 2 weeks.
- Tata Consumer: Gets tax demand worth Rs 98 crore from Kolkata tax body.
- Baazar Style Retail: Opens a new store in Odisha; total number of stores as on date stands at 263.
- Dilip Buildcon: Emerges as L‑1 bidder for a Rs 160 crore road project.
- Paisalo Digital: Board to meet on March 18 to consider allotment of NCDs on a private placement basis.
- RailTel Corporation of India: Receives two orders worth Rs 64 crore.
- Bikaji Foods International: Subscribes to 10.5 lakh shares of arm for Rs 40 crore; alert: arm is Bikaji Foods Retail.
- Sai Silks (Kalamandir): Launches its 81st store at Kakinada, Andhra Pradesh.
- IDBI Bank: Government calls off IDBI Bank disinvestment after bids fail to meet expectations.
- InterGlobe Aviation (IndiGo): Imposes fuel surcharge from March 14.
- SBI Life Insurance: Receives tax assessment order.
- VA Tech Wabag: JV secures order worth over Rs 1,000 crore from CMWSSB.
- JSW Steel: Announces coking coal mining project in Mozambique, gets access to reserves of premium hard coking coal.
- Brainbees Solutions (FirstCry): Expands Qwik delivery service in Bengaluru, Pune, and Hyderabad.
- Bharat Coking Coal: Terminates pact with Loyabad Coalfields.
- Aster DM Healthcare: Approves granting loans to subsidiary, associate, or joint venture; total exposure not to exceed Rs 1,500 crore.
- Hindalco Industries: Notifies customers that it is suspending sales of extruded aluminium products amid Iran war concerns (Bloomberg).
- Fertiliser stocks: India's urea imports from China hit a three‑year high, while supplies from Russia also surge.
Earnings To Watch
Omnitech Engineering -Q3 (CONS)
Net Profit At Rs 22.2 Cr Vs Rs 8.2 Cr YoY
Revenue up 81.6% At Rs 134 Cr Vs Rs 74 Cr YoY
EBITDA At Rs 51.2 Cr Vs Rs 24.1 Cr YoY
EBITDA Margin At 38.1% Vs 32.6% YoY
Bulk and Block Deals
- Ellenbarrie Industrial Gases : Saravana Stocks Invt. sold 9.19 lk shares at Rs. 198.37 per share.
- Tata Motors Passenger Vehicles : Derive Trading and Resorts bought 16 lk shares at Rs. 325 per share, Radhakishan Shivkishan Damani sold 16 lk shares at Rs. 325 per share.
Shares to exit anchor Lock-in on Monday
- Park Medi World: 3 months lock in, 8.5 mn lock in shares, 2% of total outstanding shares
- Nephrocare Health Services: 3 months lock in, 2.8 mn lock in shares, 3% of total outstanding shares
- Fractal Analytics: 1 month lock in, 6.9 mn lock in shares, 4% of total outstanding shares
- Aye Finance: 1 month lock in, 17.6 mn lock in shares, 7% of total outstanding shares
Listing
- Rajputana Stainless
IPO To Open
- GSP Crop Science: An agrochemical company engaged in the business of manufacturing insecticides, herbicides, fungicides and plant growth regulators. Has 524 registrations across Formulations and Technicals for agrochemicals, granted 102 patents, and have 108 patent applications. Total Issue Size: 1.25 crores shares (agg. up to Rs. 400 Cr), Fresh Issue: 75 lk shares (agg. up to Rs. 240 Cr), Offer for Sale: 50 lk shares of Rs. 10 (agg. up to Rs. 160 Cr).
Insider Trades/Pledge
- HEG : Redrose Vanijya LLP, Promoter Group, bought 1.05 lk shares.
- IRB Infrastructure Developers : IRB Holding, Promoter Group, bought 22 lk shares.
- Jindal Stainless : JSL Overseas Holding, Promoter Group, bought 8.54 lk shares.
- Marathon Nextgen Realty : Ansuya Ramniklal Shah, Promoter Group, bought 25,000 shares.
- NCC : Sirisha Projects, Promoter, bought 3.42 lk shares.
- Senco Gold : Jai Hanuman Shri Siddhivinayak Trust (Trustee: Mr. Suvankar Sen & Mrs. Joita Sen), Promoter, bought 33,415 shares.
Short Term ASM
- List of securities shortlisted in Short - Term ASM Framework Stage: Adani Total Gas
- List of securities to be excluded from ASM Framework: Quality Power Electrical Equipments
F&O Cues
- Nifty March futures are down 2.11% to 23,228.40 at a premium of 77.3 points.
- Nifty Options 17th March Expiry: Maximum Call open interest at 25,000 and Maximum Put open interest at 21,500.
- Securities in ban period: SAIL, SAMMAANCAP
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