NDTV Profit Pulse On March 17—Top 8 Stories At 8 P.M. Under 8 Minutes

Vedanta's demerger is likely to lead into four potential $100 billion businesses, claims its chairman. Indices ended the day in the green, snapping a two-day fall.

India's wholesale inflation stood at 2.38% in February, while trade deficit narrowed sharply to $14.05 billion.

Here's the roundup of news that made headlines today:

Vedanta's $100 Billion Vision

Vedanta Chairman Anil Agarwal said on Monday that each of the company's four demerged entities could grow into a $100 billion business. The restructuring aims to create independent firms focused on aluminium, oil and gas, power, and base metals.

Agarwal assured shareholders that they would receive shares in all new entities without changes to the overall holding structure. He highlighted India's rising demand for critical minerals and the potential value creation recognised by analysts.

Find out how Vedanta plans to unlock shareholder value with this demerger.

Trade Deficit Drops

India's trade deficit fell to $14.05 billion in February, down from $22.99 billion in January, marking its lowest level since August 2021. The drop was driven by a sharp fall in imports, stable exports, and a high base effect from last year, according to the Ministry of Commerce and Industry.

Exports rose 1.3% month-on-month to $36.91 billion but declined 10.8% year-on-year. Imports fell to $50.96 billion, a 16.3% drop from last February. For the fiscal year so far, the trade deficit stands at $261.05 billion, with flat exports and a 5.7% rise in imports.

Find out how oil and gold imports shaped the overall trade picture.

Wholesale Prices Steady

India's wholesale inflation stood at 2.38% in February, nearly unchanged from 2.31% in January, according to the Ministry of Commerce and Industry. While food prices eased, the cost of manufactured products continued to rise.

Vegetable prices, particularly potatoes, saw a decline, contributing to the overall drop in food inflation. Analysts expect wholesale food inflation to soften further in March, aided by strong crop output and lower global crude oil prices. However, rising temperatures could pose a risk to future food prices.

Which vegetable led the decline in prices within the food basket?

S&P 500 Gains Slightly; Indian Markets Rebound

The S&P 500 edged up 0.2% on Monday as it attempted a recovery from recent declines. The Nasdaq Composite also rose 0.2%, while the Dow Jones gained 151 points, or 0.3%.

Investor sentiment improved after February retail sales data showed a 0.2% monthly increase, easing concerns despite falling short of the 0.6% forecast. Wall Street remains cautious after recent market volatility.

See how markets are reacting to economic data and policy moves.

Back home, Sensex and Nifty closed higher on Monday, snapping a two-day losing streak as global markets rallied. Nifty ended at 22,508.75, up 0.5%, while Sensex gained 341 points to close at 74,169.95. Dr. Reddy's Labs and Bajaj Finserv led the gains.

ICICI Bank, Axis Bank, and Mahindra & Mahindra boosted Nifty, while Reliance Industries, ITC, and SBI dragged the index. Pharma and finance stocks outperformed, while media stocks saw the biggest decline.

Check the full sectoral breakdown and top stock movers.

Tata Motors' Price Hike

Tata Motors will raise prices of its commercial vehicles by 2% from April 1, citing higher input costs. The hike applies across all models and variants, with the exact increase varying by vehicle.

This follows Maruti Suzuki's third price hike in three months as automakers adjust to cost pressures amid moderating sales. Tata Motors' shares closed 0.71% higher at Rs 655.50 after touching Rs 666.45 intraday.

See how this price hike could impact the commercial vehicle market.

Dividend Digest: IRFC And NMDC

Indian Railway Finance Corp. declared an interim dividend of Rs 0.80 per share, with March 21 set as the record date for eligibility. This is the company's second interim dividend for the fiscal year, following a Rs 0.70 payout in August 2024. IRFC was recently upgraded to a ‘Navratna' PSU.

NMDC announced its first dividend for FY25 at Rs 2.30 per share, also with a record date of March 21. The company recently appointed Amitava Mukherjee as chairperson and managing director.

Tulsi Gabbard On Extremism

US intelligence chief Tulsi Gabbard said the idea of an ‘Islamist caliphate' will be defeated by anti-terror forces. Speaking exclusively to NDTV, she also addressed concerns over the persecution of religious minorities in Bangladesh.

Gabbard stated that the US will engage with Bangladesh's government on the issue, which gained attention after Sheikh Hasina's exit last year. She emphasised that protecting minorities remains a priority for the US administration.

Read her full remarks on global security and US policy.

Religare's Governance Probe

Religare Enterprises has launched a governance review of its operations and subsidiaries, engaging law firm Trilegal and Grant Thornton Bharat LLP. The review will assess past practices, suggest system improvements, and investigate potential misconduct by current and former employees.

The company aims to strengthen internal controls and transparency following past governance concerns. The review covers Religare Finvest and Religare Housing Development Finance Corporation.

Find out what this means for investors and stakeholders.

What prompted Religare's governance review?

Here are other top stories that you cannot miss

• Inside IndusInd Bank: Was it really a derivatives disaster?

• Ola Electric shares fall to all-time low amid insolvency plea against subsidiary

• Banking valuations attractive, IT growth still uncertain, says Franklin Templeton's Ajay Argal

• Banking operations may be hit on March 24-25 due to nationwide union strike

• ONGC-NTPC Green sees revenue accretion of Rs 3,800 crore from Ayana acquisition by FY27

• Bull markets create stupid investors and bear markets create smart ones, says Vijay Kedia

• India-US looking at a gamut of tariff structures as part of trade deal