Good morning!
The GIFT Nifty, an early indicator for the benchmark Nifty 50, is down 0.25% at 22,769.5 as of 6:13 a.m. Equity-index futures for the US (S&P 500) and Europe (Euro Stoxx 50) dipped 1.67% and 1.08% respectively.
Indian Market Recap
India’s stock market resumed its decline on Friday, snapping a two-day positive run, tracking global cues as the Iran war and higher oil prices weighed on sentiment. The Nifty 50 and BSE Sensex ended 2.1% and 2.3% lower. The 50-stock index lost over Rs 3.65 lakh crore in market capitalisation.
The blue-chip indices logged their fifth consecutive weekly loss, the longest stretch since August, shedding 1.3%. The conflict in the Gulf, high energy prices and a weaker rupee have taken a toll on Dalal Street.
US Market Recap
Equity markets are feeling the strain amid ongoing tensions in the Middle East. Over Thursday and Friday, S&P 500 fell 3.6% drop in the S&P 500 over Thursday and Friday, marking its worst two-day decline in a year, sending the benchmark 8.8% below its January record, according to Bloomberg data.
Asian Market Update
Japan and South Korea equities tanked as much as 5.3%, and the broader MSCI Asia Pacific Index fell 2%.
Commodity Check
Brent crude surged 2.7% to trade above $115 a barrel, while spot gold fell 0.9% to $4,453.29 an ounce
Stocks In News
- Arvind SmartSpaces: The company has added its first residential apartment project in Mumbai, with a top-line potential of Rs 300 crore and a total estimated carpet area of 42,000 sq ft.
- Colgate-Palmolive India: The company has partnered with Mumbai Indians under the Colgate Total brand, rolling out the PLOT initiative aimed at maintaining peak dental health.
- Lumax Auto Technologies: The company has approved a proposal to invest up to Rs 7 crore in its joint venture, Lumax Alps Alpine India.
- Eicher Motors: The company has launched the Royal Enfield Guerrilla 450 APEX, with a starting ex-showroom price of Rs 2.5 lakh.
- JSW Steel: The company has completed the transfer of the steel business of Bhushan Power and Steel to JSW Sambalpur via a slump sale.
- Schneider Electric: The company has revised the capex for its Vadodara plant to Rs 156 crore to enhance shopfloor, civil and structural works.
- Ceigall India: The company’s arm has received a letter of award for a Rs 603 crore project, which includes an 18-month construction period and will be executed under hybrid annuity mode.
- JNK India: The company has received an order in the Rs 300–600 crore range from JNK Global for a cracker furnace package as part of a refinery project.
- Ethos: The company has opened a new Ethos Watch Boutique in Srinagar.
- NIIT Learning Systems: The company has received a Rs 15 crore demand order from the Income Tax Department.
- SJVN: The company’s 412 MW Rampur Hydro Power Station has surpassed its highest-ever generation milestone.
- Apcotex Industries: The company has subscribed to a 2.14% stake in Amplus Energy One for Rs 1.32 crore and has re-appointed Ravishankar Sharma as Executive Director.
- Dredging Corporation of India: The current order book stands at approximately Rs 1,400 crore. The company is targeting Rs 3,000 crore turnover within the next 5–10 years and is focusing on a Rs 1,000 crore equity raise via a rights issue, improving dredger productivity by 10–15%, modernising ageing assets, strengthening maintenance systems, and addressing workforce gaps through hiring and training.
- Gujarat Fluorochemicals: The company’s subsidiary has raised approximately $80 million from a global marquee investor. This fund raising is in addition to approximately $50 million already raised from the International Finance Corporation.
- Kross: The promoter acquired 89,027 equity shares from the open market on March 27, 2026.
- Mazagon Dock: The company has increased its shareholding in Colombo Dockyard PLC to 51%.
- Coal India: The company has formed a joint venture with Damodar Valley Corporation for power generation, transmission, distribution and allied activities. The JV will see an equity infusion of Rs 3,133 crore and debt infusion of Rs 7,310 crore.
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- Craftsman Automation: The company’s subsidiary will sell certain identified plant and machinery and related assets of its piston manufacturing business to Shriram Pistons for Rs 28 crore.
- PC Jeweller: The company has signed an MoU with NSDC to partner as the industry/franchise partner for the gems and jewellery sector to develop and onboard up to 2,00,000 micro-entrepreneurs in India over a five-year period under the PC Jeweller brand.
- Ceigall: The company has received an award from NHAI worth Rs 603 crore for a six-lane spur project in Punjab.
- City Union Bank: The company has opened five new branches, taking the total branch count to 942.
- Saatvik Green Energy: The company has received an order worth Rs 14 crore for the supply of solar PV modules.
- Aarti Pharmalabs: The USFDA inspected Unit IV and issued a Form 483 with one observation, which the company said is procedural in nature.
- Indian Overseas Bank: The bank has received a Rs 643 crore tax demand for AY17 and is in the process of filing an appeal. The bank has also received a separate tax demand of Rs 1,743 crore from the Income Tax Department.
- Tata Motors: The company said the disruption at the JLR plant is short-term and limited in scope due to a part supply constraint. A temporary production pause has been initiated at the Solihull manufacturing facility, and the company does not anticipate any material impact.
- Syngene International: Peter Bains will resign as MD and CEO effective June 30, with Siddharth Mittal appointed as MD and CEO from July 1. Kiran Mazumdar-Shaw will become Executive Chairperson.
- Ramkrishna Forgings: The company has approved the allotment of shares worth Rs 101 crore for the conversion of warrants.
- RailTel Corporation: The company has received an LoI worth Rs 444 crore for system integration for KSWAN 3.0. The KAVACH order book stands at Rs 1,000 crore, and the total order book stands at Rs 10,166 crore. The company has also received a Letter of Acceptance worth Rs 13 crore from Mumbai Port Authority.
- Power Grid Corporation of India: The company has commissioned the transmission system for power evacuation.
- Kotak Mahindra Bank: The bank has clarified on reports alleging a Rs 160 crore FD fraud linked to the Panchkula Municipal Corporation and said there is no material impact on operations. The bank is examining the matter.
- Mukand: The company will sell 14.2 acres of partial land in Dighe for Rs 445 crore, three acres of land in Kalwa, Thane for Rs 111 crore, and a 50% undivided share of 2.44 acres of land in Dighe.
- G R Infraprojects: The company has emerged as the L1 bidder for a Rs 1,454 crore project from NHAI.
- Avenue Supermarts: The company has opened new stores, taking the total store count to 481.
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- PNC Infratech: The company has completed the sale of its stake in PNC Challakere Highways (Karnataka).
- Bank of Baroda: The bank has received GBP 75 million from its arm, Bank of Baroda (UK).
- Symphony: The company has invested an additional Rs 165 crore in its arm, Climate Holdings Pty.
- Polycab: NCLT has approved the scheme of amalgamation of Uniglobus Electricals and Electronics with the company.
- UGRO Capital: The company has approved the allotment of 2,000 non-convertible foreign currency bonds worth $20 million.
- Narayana Hrudayalaya: The company’s arm has executed a business transfer pact with Shri Mata Vaishno Devi Charitable Society.
- NHPC: The company has signed an implementation pact to develop the 240 MW Uri-I Stage-II and 260 MW Dulhasti Stage-II hydroelectric projects.
- Inventurus Knowledge Solutions: The company has acquired 29,541 shares of IKS Inc. as the first tranche of a $19 million investment.
- Marathon Nextgen Realty: The company’s arm has acquired partnership firm SSSB for Rs 70 crore.
- Crompton Greaves Consumer Electricals: The company has received a tax demand of Rs 42.6 crore and has also launched the Energion AC Stabiliser under its B2C lighting segment.
- KCP: The company has received a dividend of Rs 56.7 crore from its arm, KCP Vietnam Industries.
- Tamilnad Mercantile Bank: The bank has opened three new branches across Gujarat, Tamil Nadu and Karnataka.
- Bombay Burmah Trading Corporation: The company has sold its tea plantations in the Nilgiris for Rs 120 crore.
- Swan Energy: The company has issued a corporate guarantee of Rs 73 crore.
- Pine Labs: The company’s arm has initiated a voluntary strike-off of its name from the Registrar of Companies.
- Aegis Vopak Terminals: The company has signed a pact to sell a 10% stake in its arm for Rs 80.3 crore.
- Sun Pharma: Phase II of the clinical trial of GLIOSTAR did not meet the primary endpoint. The company remains committed to the GLIOSUN clinical trial and will present 14 abstracts at the 2026 American Academy of Dermatology Annual Meeting.
- Thermax: The company has received a Rs 1,600 crore order for a 1×800 MW thermal power plant.
- Federal Bank: Rs 323 crore is to be refunded to the bank for AY 2016–17.
- Cigniti Technologies: NCLT has reserved its order on the merger of the company with Coforge, and statutory authorities have recorded no objection to the merger scheme.
- Sammaan Capital: SEBI has approved Avenir’s stake acquisition. Avenir will infuse Rs 8,849 crore through a preferential issue, increasing its stake to 41.23%, with the potential to increase to 63.36% after the open offer.
- One 97 Communications: AGTech has decided to waive an outstanding loan of approximately Rs 142 crore owed by its arm, First Games Technology.
ALSO READ: Vedanta To Split Into Five Listed Companies In April Under Restructuring Programme: Report
- Healthcare Global: The company has approved the allotment of 82.9 lakh shares on a rights basis.
- Torrent Power: The company has received a Rs 189 crore tax demand from the Lucknow authority.
- MosChip Technologies: The Hyderabad NCLT has approved the merger of Softnautics with the company, effective April 4.
- Gujarat Ambuja Exports: The company has commenced production at its new maltodextrin unit, increasing total installed capacity to 23,000 MTPA.
- KNR Constructions: The company has received a Rs 1,734 crore Letter of Acceptance from NHAI for a road project.
- Cian Agro Industries: NCLT Mumbai has approved the resolution plan for Shubhada Tool.
- Titagarh Rail Systems: The company has approved the sale of its Singapore unit to Worldvmc Singapore.
- Crizac: The company has committed $2.5 million towards the development of an AI-based edtech platform.
- Tata Steel: The company has received Rs 385 crore relief in the excess coal production case related to Jharia mines output between FY01 and FY17.
- NTPC: The company has approved an investment of Rs 5,821.90 crore for a Battery Energy Storage System and an additional equity commitment of Rs 3,173.67 crore in Meja Urja Nigam.
- Avantel: The company has received a supply order worth Rs 137 crore from the India Meteorological Department for wind profiler systems.
- ONGC: Three individuals have ceased to be Independent Directors upon completion of their tenure.
- Dilip Buildcon: The company has received a Rs 698 crore LoA for the construction of a flood protection embankment on the Narmada river.
- Senores Pharma: The board has approved the allotment of 11.7 lakh shares for warrant conversion amounting to Rs 95 crore.
- Gujarat Narmada Valley Fertilizers & Chemicals: Shareholders have approved the appointment of Rajkumar Beniwal as MD.
- Urban Company: The company’s InstaHelp has crossed 1 million monthly delivered bookings, becoming the fastest-growing vertical in the company’s history.
- Ashok Leyland: The company has released a pledge on 18.6% equity.
- ADF Foods: The company has commenced commercial production at its new greenfield manufacturing facility in Surat.
- NTPC Green Energy: The company has commissioned additional solar project capacities and declared commercial operation of a 75 MW capacity at the Bhadla Solar PV Project.
- Jubilant FoodWorks: The company said LPG supply constraints due to geopolitical issues are being actively managed and the operational impact is limited at this stage.
- MedPlus Health Services: The company’s subsidiary has received a suspension order for a drug licence of a store in Karnataka.
- Oberoi Realty: The company has entered into a development agreement for redevelopment of land parcels in Peddar Road, Mumbai.
- Ram Ratna Wires: The company has approved capex for capacity expansion and process enhancement at its Silvassa manufacturing units.
- PG Electroplast: The company has received approval for incentive disbursement under the PLI scheme for white goods.
- TVS Motor Company: The company has launched the TVS Apache RTR 310 in Morocco.
- Enviro Infra Engineers: The company has received a Rs 664 crore LoA from NTPC for BESS projects in two states.
- India Cements: NCLT Chennai has approved the merger of four subsidiaries, effective March 28.
- Som Distilleries and Breweries: The company said there is no change in the licence suspension matter and efforts are ongoing to resolve the issue.
- Ramky Infrastructure: The board has approved the sale of VPCL shares to BGCCPL.
- PC Jeweller: The board has approved the allotment of 48 crore shares for warrant conversion amounting to Rs 20.9 crore.
- Coal India: The company has received a LoA for setting up a 750 MWh BESS plant at Choutuppal.
- Interarch Building Products: The company has approved raising funds through a QIP.
IPO Offering
Amir Chand Jagdish Kumar (Exports)
Day 3
- Reports 3.23X overall subscription
- NIIs at 12.71X
- Retail at 1.36X
- QIBs at 1.11X
Sai Parenterals
Day 3
- Reports 1.05X overall subscription
- NIIs at 2.36X
- QIBs at 1.71X
- Retail at 12%
Powerica
Day 3
- Reports 1.45X overall subscription
- QIBs at 4.5X
- NIIs at 44%
- Retail at 15%
Bulk & Block Deals
- Arvind Smartspaces: ASL ESOP Trust bought 4.58 lk shares & HDFC Capital Affordable Real Estate Fund-1 sold 4.58 lk shares at Rs. 510 a piece.
- Prataap Snacks: F3 Advisors sold 1.32 lk shares at Rs. 904.54 a piece & Authum Investment & Infrastructure bought 1.60 lk shares at Rs. 898.13 a piece.
- Hind Rectifiers: Vanaja Sundar Iyer sold 1.46 lk shares & SI Investments & Broking bought 1.44 lk shares at Rs. 710.29 a piece.
- Lloyds Enterprises: F3 Advisors sold 1.76 crore shares at Rs. 42.46 a piece.
- Mahanagar Gas: Washington State Investment Board bought 6.17 lk shares at Rs. 950.42 a piece.
- Bajaj Finance: BNP Paribas Financial Markets bought 12.18 lk shares & sold Societe Generale sold 12.18 lk at Rs. 882.75 a piece.
- Bharti Airtel: BNP Paribas Financial Markets bought 33.38 lk shares & sold Societe Generale sold 33.38 lk at Rs. 1834.9 a piece.
- Hindalco: BNP Paribas Financial Markets bought 58.12 lk shares & sold Societe Generale sold 58.12 lk at Rs. 868.65 a piece.
- Indigo: BNP Paribas Financial Markets bought 7.63 lk shares & sold Societe Generale sold 7.63 lk at Rs. 4294.7 a piece.
- M&M: BNP Paribas Financial Markets bought 3.76 lk shares & sold Societe Generale sold 3.76 lk at Rs. 3128.65 a piece.
- Apollo Micro Systems: Motilal Oswal Mutual Fund bought 18.02 lk shares at Rs. 189.58 a piece.
- Cyient DLM: Motilal Oswal Mutual Fund sold 5.42 lk shares at Rs. 278.30 a piece.
- Devyani International: KIFS Dealers sold 61.87 lk shares at Rs. 98.36 a piece & PSL bought 64.17 lk shares at Rs. 98.41 a pieice.
ALSO READ: IPO Listings This Week: CMPDI, Powerica, Sai Parenterals, Amir Chand Jagdish Kumar
Insider Trade
- Dynamatic Technologies: Christine Hoden India, Promoter Group, sold 22,000 shares.
- Greenply Industries: Shakuntala Safeinvest, Promoter Group, bought 51,000 shares.
- Seshasayee Paper & Boards: Dhanashree Investments, Promoter Group, bought 50,704 shares.
- Jindal Stainless: JSL Overseas Holding, Promoter Group, bought 1.80 lk shares.
- RattanIndia Power: RattanIndia Enterprises, Promoter, bought 1.02 cr shares & RR Infralands, Promoter, sold 1.02 cr shares.
- Camlin Fine Sciences: Ashish Subhash Dandekar, Promoter & Director, pledged 13.25 lk shares.
- Electrosteel Castings: Badrinath Industries, Promoter Group, bought 11.37 lk shares.
Price Band
- Price Band change from 20% to 10%: Prabha Energy
F&O Cues
- Nifty Feb futures is down 2.14% to 22,801.70 at a discount of 18 points.
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