Good morning!
The GIFT Nifty, an early indicator for the benchmark Nifty 50, is up 0.12% at 23,233 as of 6:40 a.m. Equity-index futures for the US (S&P 500) and Europe (Euro Stoxx 50) dipped 1.36% and 0.54% respectively.
ALSO READ: GIFT Nifty Indicates Sharp Opening Fall For Nifty 50
India Market Recap
Indian equity benchmarks extended rally for the third consecutive trading session, its longest stretch of losing streak in a month. The BSE Sensex closed over 600 points higher to end above 76,700. The NSE Nifty 50 ended 0.8% higher to settle at 23,777. Intraday, the 30-stock index had risen as much as 1.2% or 929 points and the 20-share index rose as much as 1.2%.
In the currency markets, The rupee ended at a record-closing low of 92.63 against the US dollar.
US Market Wrap
Wall Street stayed cautious as a sharp jump in oil prices pressured both equities and bonds, while Federal Reserve Chair Jerome Powell warned that the war's potential impact on inflation has made the outlook for interest‑rate moves more difficult to predict.
Although the Fed maintained its projections for one rate cut in 2026 and another in 2027, traders dialed back expectations for any easing this year. Treasury yields moved higher after Powell emphasized that monetary policy still needs to remain “slightly restrictive” and acknowledged the dilemma the central bank faces. The S&P 500 fell 1.4%, marking its steepest decline on a Fed decision day since 2024.
Asian Market Update
Asian markets retreated in early Thursday trade as escalating conflict in the Middle East and fresh attacks on key energy assets pushed oil prices higher, prompting investors to cut risk exposure.
Japan's Nikkei 225 tumbled 2.4% ahead of the Bank of Japan's policy announcement, while a broader Asian equities index slid more than 1.3%, reflecting growing caution across the region.
Commodity Check
Oil prices climbed after strikes on major energy installations in the Middle East heightened fears of broader supply disruptions as the nearly three‑week‑old conflict escalates. Brent crude jumped as much as 4.3%, approaching $112 a barrel, while West Texas Intermediate hovered near $99. US natural gas futures also surged, rising up to 5.6%.
The gains followed Iran's attack on a key LNG facility in Qatar — one of several energy targets it had vowed to hit after earlier strikes on its South Pars gas field.
Gold stabilized after a steep 4% drop in the previous session, as the Federal Reserve cautioned that the conflict and rising energy costs could fuel inflation pressures. Bullion was little changed near $4,835 an ounce in early trade, extending its decline to a sixth consecutive session — the longest losing streak since late 2024.
Stocks In News
- ICICI Bank: The company will announce its Q4 results on April 18 and has redeemed $800 million notes under its Global Medium Term Note Programme.
- Infosys: The company is set to incorporate "Infosys Enterprise Business Services" as a new arm in Australia.
- UltraTech Cement: The company has inked a pact to acquire a 26.18% stake in Sunsure Solarpark Seven for Rs 19.2 crore.
- NATCO Pharma: The company will hold a board meeting on March 24 to consider the demerger of its Agrochemicals division.
- TVS Motor: The company will hold a board meeting on March 24 to consider an interim dividend.
- Sri Lotus Developers: The company has incorporated a new arm named "SRI LOTUS GRAND ABODES."
- Puravankara: The company has received a MahaRERA certificate for a new tower launch under the Purva Panorama project.
- Delhivery: The company has launched "Economy Air" shipping services to the UK, Canada, and Australia under its international division.
- NHPC: The company will hold a board meeting on March 25 to consider its borrowing plan for FY27.
- City Union Bank: The company has opened two new branches in New Delhi, bringing its total branch count to 929.
- Mobavenue AI Tech: The company has appointed Vijay Basantani as the new Group CFO.
- Orissa Minerals Development: The company has appointed GVN Prasad as Managing Director for a period of one year.
- Alldigi Tech: The company has appointed Natarajan Laxsmanan as its new CEO.
- Gillette India: The company has submitted a fresh application for the renewal of its Consent to Operate (CTO).
- DCX Systems: The company has secured a Rs 12.8 crore order for the supply of cable and wire harness assemblies.
- Camlin Fine Sciences: The company reports that an Italian court has initiated judicial liquidation for its arm, CFS Europe.
- Belrise Industries: The company is set to acquire a 100% stake in Chester Hall Precision Engineering for an enterprise value of 13.2 million GBP.
ALSO READ: Trade Setup For March 19: Nifty Finds Key Short-Term Support At 22,700-22,400
- UBL: The company has received environmental clearance for its Unnao Brewery.
- Bajaj Auto: The company has re-appointed Pradeep Shrivastava as a Whole-Time Director.
- Aditya Birla Lifestyle Brands: The company has approved the allotment of 50,000 NCDs worth ₹500 crore.
- G R Infraprojects: The company has emerged as the L-1 bidder for a Rs 2,441 crore NHAI construction project.
- Dishman Carbogen Amcis: The company will hold a board meeting to consider raising Rs 150 crore via NCDs.
- Physicswallah: The company has received a tax demand of Rs 263 crore and has incorporated a new arm for student housing.
- Platinum Industries: The company has incorporated a new arm named "Rivadu Lifesciences."
- Nazara Technologies: The company is set to acquire a ~50% controlling stake in Bluetile and BestPlay for approximately Rs 918 crore.
- Manappuram Finance: The company has received RBI clearance for Bain Capital to acquire joint control via a 41.66% stake.
- R Systems: The company has launched "EXIQO," an AI studio for enterprise-scale agentic AI integration.
- CEAT: The company clarifies that the Rs 1,314 crore investment for its Chennai plant expansion was previously approved.
- Tata Communications: The company has incorporated a joint venture named "TC (Shanghai) Tech" with a subscription of 10 million RMB.
- Solara Active Pharma: The company has received a tax demand of rS 162 crore from the Thane tax body.
- Ola Electric: The company has approved a variation in the utilization and time limit of its IPO proceeds.
- Shree Cement: The company has incorporated a new arm named "Shree Cement (Mauritius)."
- Kirloskar Ferrous: The company has received NCLT approval for the merger of its arms, Oliver Engineering and Adicca Energy.
ALSO READ: SEBI Fines 18 Entities Rs 2.8 Crore For Manipulating RGRL Shares, Debars Them For Up To 5 Years
- Delta Corp: The company and its arm have received a tax demand of rS 1,752 crore from the Goa tax body.
- Tamilnad Mercantile Bank: The company has received a rS 204 crore tax demand for AY 2013-14 and plans to file an appeal.
- TVS Holdings: The company will hold a board meeting on March 25 to consider an interim dividend for fiscal 2026.
- Godrej Agrovet: The company will transfer the leasehold rights of its land in Surat for Rs 35 crore.
- Alkem Laboratories: The company has approved a Rs 533 crore investment to set up a greenfield formulations facility in Ujjain.
- GNG Electronics: The company has enhanced its existing credit facilities with DBS Bank India from Rs 30 crore to ₹80 crore.
- Vedanta: The company will hold a board meeting on March 23 to consider a third interim dividend.
- UGRO Capital: The company will hold a board meeting on March 21 to consider a fundraise and has completed the acquisition of Datasigns Technologies.
- Varun Beverages: The company has acquired "Twizza Proprietary" through its arm at an enterprise value of Rs 1,140 crore.
- Orchid Pharma: The company reports that the NCLT has reserved its order regarding the merger of Dhanuka Labs with the firm.
- NTPC Green: The company has started operations of the 4th part capacity of Solar PV project.
- Euro Pratik Sales: The company's board will meet on March 23 to consider interim dividend.
IPO Listing
- Rajputana Stainless: Manufactures long & flat stainless-steel products. Produces billets, ingots, and bright bars. Exports to UAE, USA, Turkey, Kuwait, & Poland. Supplies to aerospace, defense, & auto sectors.
ALSO READ: Coal India's arm CMPDIL Raises Rs 470 Crore From Anchor Investors
Bulk & Block Deals
- Ugro Capital : ACM Global Fund VCC – FDI sold 10 lk shares at Rs. 96.10 per share.
- Yatra Online : Belgrave Investment Fund bought 16.89 lk shares at Rs. 105.02 per share & ITI Holdings and Investment sold 15 lk shares at Rs. 105.11 per share.
- Electrosteel Cast : Electrosteel Thermal Coal bought 2.05 Cr shares at Rs. 70 per share, India Opportunities Growth Fund – Pinewood Strategy sold 2.05 Cr shares at Rs. 70 per share.
- SEIL: Jaypee Capital Service sold 10 lk shares at Rs. 170 per share.
Insider Trades/Pledge
- Agi Greenpac : Sumita Somany, Promoter, bought 50 k shares.
- IOL Chemicals & Pharmaceuticals: Mayadevi Polycot, Promoter Group, bought 6.54 lk shares, NCVI Enterprises, Promoter Group, bought 7 lk shares.
- IRB Infrastructure Developers: IRB Holding, Promoter Group, bought 33 lk shares.
- La Opala RG: Genesis Exports, Promoter, bought 35 k shares.
- Sanstar : Sambhav Starch Products, Promoter Group, bought 40 k shares.
Shares To Exit Anchor Lock-In
- KSH International: 3 months lock in, 3 mn lock in shares, 4% of total outstanding shares.
- Rubicon Research: 6 months lock in, 1 mn lock in shares, 0.8% of total outstanding shares.
- Dev Accelerator: 6 months lock in, 33 mn lock in shares, 37% of total outstanding shares.
Trading Tweaks
- Price Band change from 10% to 5%: SUMEET INDUSTRIES
- Price Band change from 40% to 20%: HEALTHCARE GLOBAL ENTERPRISES
Short-Term ASM
- List of securities shortlisted in Short - Term ASM Framework Stage I : NIL
- List of securities to be excluded from ASM Framework: Shankara Buildpro, Hindustan Oil Exploration, Jindal Poly Films
F&O Cues
- Nifty March futures is up 0.66% to 23,774.40 at a discount of - 3.4 points.
- Nifty Options 24th March Expiry: Maximum Call open interest at 25,000 and Maximum Put open interest at 21,000.
- Securities in ban period: SAIL, SAMMAANCAP
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