Good morning!
The GIFT Nifty is trading 0.28% higher at 24,616, indicating a flat to positive open to the benchmark Nifty 50 index. The futures contracts for the S&P 500 and the Euro Stoxx 50 are down 0.57% and 1.46%, respectively.
Market Recap
The Nifty 50 ended 285.40 points or 1.17% higher at 24,765 and the BSE Sensex settled 899 points down at 80,015.90.
US Market Wrap
The US-Israeli war on Iran waged for a sixth day with no signs of easing resulting an extending a surge in energy prices. The S&P 500 lost 0.6%. The yield on 10-year Treasuries climbed three basis points to 4.13%. The dollar added 0.4%. The Nasdaq 100 fell 0.3%.
Asian Market Wrap
Asian markets are taking a hit, with equities plunging on Friday and heading for their worst week in six years. The ongoing Middle East conflict and fresh Iranian strikes are fueling a risk selloff, spooking investors. Key indexes in Japan, South Korea, Australia, and China have fallen sharply, with airlines and energy stocks among the hardest hit.
Friday's 1.1% decline in the MSCI Asia Pacific Index brought the gauge's loss to 7.5% since the war began. Treasuries held this week's losses, while the dollar edged lower, but it was still headed for its best week since 2024. S&P 500 futures were little changed as of 10:21 a.m. Tokyo time while Hong Kong's Hang Seng rose 0.1%, reported Bloomberg.
Commodity Check
Oil prices are surging which is said to be their biggest weekly jump since 2022, driven by the escalating Middle East conflict that's disrupting energy markets. Brent has rallied 15% this week, although prices retreated below $84 a barrel on Friday after President Donald Trump signalled 'imminent action' to reduce pressure on prices, and the Treasury Department eased curbs on India's ability to buy Russian oil. West Texas Intermediate was near $79, reported Bloomberg.
Gold was on track for the first weekly loss in more than a month, pressured by a stronger US dollar and inflationary risks tied to the ongoing war in the Middle East. Bullion ended the previous session down 3.7% for the week, before steadying in early trading on Friday. Spot gold edged up 0.2% to $5,090.32 an ounce as of 8:22 a.m. in Singapore. Silver rose 1.3% to $83.30. Platinum and palladium advanced, reported Bloomberg.
Stocks In News
- Dr Reddy's Laboratories: The company receives an Establishment Inspection Report from the USFDA for its Srikakulam facility; the inspection has been classified as “Voluntary Action Indicated.”
- Garden Reach Shipbuilders: The company signs an MoU with Kalyani Strategic Systems to jointly develop advanced naval systems, unmanned platforms, and maritime capabilities.
- Tata Elxsi: The company launches its GenAI platform “DevStudio.ai” to accelerate automotive software engineering and development.
- Kilburn Engineering: The company approves allotment of 1.5 lakh shares to a non-promoter category allottee.
- Zaggle Prepaid Ocean Services: The company enters into a pact with Blue Star to provide employee expense management solutions.
- Standard Engineering Tech: The company signs a pact with API Pharma Pharmaceutical Trading to support its export expansion strategy.
- Bank of Baroda: The bank allots long-term green infrastructure bonds worth ₹10,000 crore.
- Radico Khaitan: The company's Old Admiral Brandy brand crosses the milestone of 1 crore cases in sales in FY26.
- Bajaj Auto: The company says KTM AG has prepaid all outstanding dues, leading to termination of the €450 million loan agreement signed by Bajaj Auto International Holdings.
- Associated Alcohols & Breweries: The company's board will meet on March 12 to consider conversion of warrants into equity shares.
- CG Power & Industrial Solutions: Arm CG International Holdings Singapore signs an agreement to sell its 51% stake in Crompton Prima Switchgear Indonesia to PT Prima Layanan Nasional Enjiniring for 1 Indonesian Rupiah.
- Carysil: The company's step-down subsidiary Carysil Ankastre Sistemleri Ticaret has been deregistered in accordance with Turkish laws.
- Tata Consultancy Services: The company is in advanced talks for more AI data centres in India. It aims to help bridge India's projected 10-gigawatt AI data centre demand by 2030.
- Wipro : The Company appoints Laura Marie Miller to its Board of Directors. Her appointment is expected to strengthen Wipro's focus on technology, AI, and digital transformation.
- Bajaj Auto: The Company updates that KTM AG has fully repaid its €450 million secured term loan to Bajaj Auto International Holdings BV.
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- eMudhra: The company calls for stronger authentication as NIS2 and DORA expand enterprise cybersecurity obligations globally.
- Jio Financial Services: The company allots 14.7 crore shares of Allianz Jio Reinsurance for Rs.147.5 crore; total investment now Rs.150 crore
- DCX Systems: The company receives an order worth Rs.68 crore from Hindustan Aeronautics.
- Asian Granito India: The company approves allotment of 6 crore shares to Dhruti Mahesh Trivedi
- Time Technoplast: The company says Forex fluctuations may impact input pricing and freight costs have risen due to global shipping route changes
- MRPL: The company clarifies it has not declared force majeure and reports of halting fuel exports are incorrect.
- MOIL: The company raises prices of ferro-grade and chemical-grade manganese ore by 2%.
- Devyani International: CEO Shivashish Pandey resigns from the position of CEO – Yum Brands
- Synthiko Foils: The company's arm completes acquisition of a 55% stake in Metafin Technology for Rs.1.5 crore.
- JK Tyre: The company will acquire a 26% stake in Sunpulse Power for Rs.5 crore.
- Amber Enterprises: HDFC Mutual Fund buys 2.7 lakh shares at Rs.7,650 per share via bulk deal.
- JK Tyre: The company will acquire a 26% stake in FPEL Burning Bright for Rs.1.53 crore.
- Samhi Hotels: The company will acquire a 70% partnership interest in RARE India for Rs.47.39 crore.
- GK Energy: Maharashtra GST authorities conclude inspection at the company's office
- Shilpa Medicare: NCLT approves amalgamation scheme of arm Shilpa Therapeutics with the company
- Mazagon Dock Shipbuilders: The company says CNC negotiations with the government are completed; unaware of reports on Rs.99,000 crore defence deal.
- Petronet LNG: The company receives a force majeure notice from QatarEnergy and issues corresponding force majeure notices to IOC, GAIL, and BPCL.
- PDS: The company's arm Fareast Vogue has been dissolved with effect from Feb 27.
- Valor Estate: The company will issue a corporate guarantee for a term loan availed by its arm DB View.
- Advent Hotels International: The company will seek approval for sale of Bamboo Hotel and Global Centre to Valor Estate.
- Titagarh Rail Systems: Associate company Firema transfers a business unit to Fabbrica Italiana Treni for €66 million.
- Lemon Tree Hotels: The company signs a new 49-room hotel property in Himachal Pradesh.
- Valor Estate: The company will acquire a 49% stake in Bamboo Hotel for Rs 597 crore
- Bharat Forge : The company announced that its WoS, Kalyani Strategic Systems Limited (KSSL), signed a strategic MoU with GRSE to co-develop indigenous marine engineering solutions and propulsion systems
- Mangalore Refinery and Petrochemicals: The Company officially denied reports claiming it halted fuel exports due to the Iran conflict, clarifying that it has not declared any "Force Majeure".
- Finkurve Financial Services : The Company operating under the brand Arvog, has officially launched a strategic co-lending partnership with Godrej Finance Limited (GFL) to scale its gold loan portfolio under the RBI's regulatory framework.
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Bulk / Block Deals
- DCX Systems: Hitesh Satishchandra Doshi sold 6.80 lk shares for Rs. 178.69 per share.
- Amber Enterprises India: HDFC Mutual Fund bought 2.42 lakh shares for Rs. 7,650.00 per share.
- Afcons Infrastructure: Goldman Sachs Bank Europe SE– ODI bought 9.71 lk shares for Rs. 276.5 per share.
- Morgan Stanley Asia (Singapore) PTE sold 9.71 lakh shares for Rs. 276.5 per share
- HDFC Bank: Schroder Emerging Markets Fund, a separate investment fund within the Schroder capital management category bought 7.07 lk shares of Rs. 868.65 per share. Schroder Pacific Emerging Markets Fund, sold 7.07 lakh for Rs. 868.65 per share.
- Mahindra & Mahindra: Schroder Emerging Markets Fund, a separate investment fund within the Schroder capital management category bought 94,120 shares of Rs. 3,264.30 per share. Schroder Pacific Emerging Markets Fund sold 94,120 shares for Rs. 3,264.30 per share.
Earnings Post Market
- Fractal Analytics Ltd - Q3 (CONS QoQ)
- Revenue is up 7% At Rs 854 crore Vs Rs 799 crore
- EBIT up 46.4% At Rs 93 crore Vs Rs 63.4 crore
- EBIT Margin at 10.9% Vs 7.9%
- Net Profit at Rs 103 crore Vs Rs 34.3 crore
- Q3 Saw Tax-Writeback Of Rs 35.3 crore
Earnings in focus today
- Aye Finance Ltd.
- Kwality Walls (India) Ltd.
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Insider Trades/Pledge
- Asahi India Glass: Sanjay Labroo, Promoter & Director, created pledge of 2 lk shares.
- HCL Technologies: Vama Sundari Investments Delhi, Promoter, bought 1.32 lk shares.
- Jindal Stainless: JSL Overseas Holding, Promoter Group, bought 6.40 lk shares.
- La Opala RG: Genesis Exports, Promoter, bought 25,000 shares.
- MSP Steel & Power: Jagran Vyapaar, Promoter Group, bought 8.97 lk shares, Shree Vinay Finvest, Promoter Group, bought 9 lk shares, Ilex, Promoter Group, bought 60,000 shares.
- Redtape: Haya Mirza, Promoter Group, bought 20,000 shares, Fauzia Mirza, Promoter Group, bought 40,000 shares.
Trading Tweaks - Price Band Changes
- Price Band change from 20% to 10%: Jindal Poly Films
- Short Term ASM: NIL
- List of securities shortlisted in Short - Term ASM Framework Stage: Tejas Networks
- List of securities to be excluded from ASM Framework: DEE Development Engineers, Kitex Garments
F&O Cues
- Nifty March futures is up 1.01% to 24,832.00 at a premium of 66.1 points
- Nifty Options 10th March Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 22,750
- Securities in ban period: SAIL, SAMMAANCAP.
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