NDTV Profit Pulse On March 26—Top 8 Stories At 8 P.M. Under 8 Minutes

Among today’s top stories, the Ministry of Defence has signed a Rs 6,900-crore contract with Bharat Forge Ltd. and Tata Advanced Systems fLtd. or advanced artillery gun systems and high-mobility vehicles. Meanwhile, BSE Ltd. will consider issuing bonus shares on March 30, which could mark its second such issuance in three years.

On the corporate front, Larsen & Toubro Ltd. has secured its largest-ever order, worth over Rs 15,000 crore, from QatarEnergy LNG, while Wipro has landed a 500 million pound deal with the UK’s Phoenix Group.

Here’s a roundup of the biggest headlines today:

The Ministry of Defence has signed contracts with Bharat Forge and Tata Advanced Systems for procuring advanced towed artillery gun systems and high-mobility vehicles.

This marks the first major procurement of towed guns from the private sector for the Indian Army, boosting the indigenous defence manufacturing ecosystem.

Will this strengthen India’s artillery capabilities?

BSE Ltd. will discuss issuing bonus shares during its board meeting on March 30, potentially marking its second such move in three years.

In 2022, BSE issued a 2:1 bonus share, rewarding investors with two extra shares for every share held. The company had Rs 2,532 crore in net cash as of September 2024.

What does this mean for BSE investors?

Wall Street wavered after a recent rally as trade war concerns weighed on sentiment. The S&P 500, which had its biggest winning streak since January, was little changed, with Nvidia and Tesla leading losses. A measure of big banks rose for a ninth straight session, marking the longest rally since 2006.

The Nifty 50 and Sensex ended a seven-day winning streak, posting their biggest intraday fall in nearly a month. The Nifty closed 181.80 points or 0.77% lower at 23,486.85, while the Sensex ended 728.69 points or 0.93% lower at 77,288.50.

Larsen & Toubro has bagged an ‘ultra mega’ order for its hydrocarbon business from QatarEnergy LNG, valued at over Rs 15,000 crore.

The project involves building offshore compression complexes to support Qatar’s North Field Production Sustainability project.

This is the biggest single order in L&T’s history, says CEO S N Subrahmanyan.

Wipro has signed a 10-year strategic deal worth 500 million pounds (over Rs 5,500 crore) with Phoenix Group, the UK’s largest long-term savings and retirement firm.

The deal involves Wipro handling life and pension administration services for Phoenix’s ReAssure customers.

How will this impact Wipro’s business?

Vedanta Ltd. has named Rajiv Kumar as CEO of its aluminium business for a three-year term.

Kumar, a Tata Steel veteran, will oversee Vedanta’s aluminium strategy, including its demerger into five separate entities.

Read more about him. 

A Kotak Private Banking report reveals that 20% of ultra-high-net-worth individuals in India are planning or in the process of moving abroad.

Professionals are more likely to migrate than entrepreneurs, with key motivations including lifestyle, healthcare, and global business opportunities.

Where are India’s ultra-rich heading next?

Ace investor Govind Parikh advises keeping at least 10% of one’s portfolio in cash to seize opportunities during market corrections. Parikh shared how the 2008 market crash reinforced the importance of liquidity in investing. His insights come as Indian stocks recently saw an 18-19% correction from September highs.

Read his investment strategy here.

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