Indian equity benchmarks resumed declines after a one-day breather on Friday. The BSE Sensex closed 2.46% lower, or 1,836 points, to 72,696.39 and the NSE Nifty 50 fell as much as 2.6% to 22,512.65. Intraday, Nifty 50 fell 2.78% to 22,471.25 and Sensex was down 2.65% to 72,558.44. All 15 sectoral gauges compiled by thee NSE traded lower, led by the NSE Nifty Metal Index’s 4.8% fall.
Meanwhile, the rupee hit fresh record low and closed 25 paise lower at 93.95 against the US dollar. Besides, Brent crude for May delivery rose 1% to $113.32 a barrel, reversing earlier losses.
ALSO READ: FPI Outflows Cross Rs 93,000 Crore In March, Highest Since October 2024
Stocks In News
- Balkrishna Industries: The company’s board approves raising up to Rs. 750 crore via non‑convertible debentures.
- Samvardhana Motherson: The company’s board approves a scheme for reduction of share capital of its arm, Motherson Technology Services.
- Astral: The company’s arm, Al‑Aziz Plastics, is granted a patent for a ‘Multiport Water Outlet’ by the government.
- Capri Global: The company approves allotment of 73 lakh shares on a rights basis at an issue price of Rs. 274 per share.
- Gujarat State Petronet: The company receives a Rs. 78 crore demand order from the Income Tax Department for AY25.
- InterGlobe Aviation (IndiGo): The company appoints Aloke Singh as Chief Strategy Officer.
- Coal India: The company’s board accords approval for closure of its arm, MJSJ Coal.
- DCX Systems: The company receives an order worth Rs. 14 crore for supply of cables and wire‑harness assemblies.
- EPACK Durable: The company receives a tax demand of Rs. 29 crore from the Income Tax Department.
- G. R Infraprojects: Company has received LoA from NHAI. Contract of Rs. 2440 crores.
- Wipro: Company announced the expansion of its business operations in South Korea.
- PVR Inox: Company opens 3-screen Multiplex in New Delhi. With this, company operates the largest multiplex network with 1,802 screens
- MedPlus Health Services: Company received one suspension order for a Drug License of a store situated in the state of Karnataka.
- GNG Electronics: The Company has received the Supplemental and Amendatory Agreement to the Facility with ICICI Bank Agreement. The Company has received the executed addendum with Axis Bank
- NBCC: Company awarded work order of Rs. 58.61 crores
- Astral: Company has been granted a patent for an invention titled “MULTIPORT WATER OUTLET”
- Coal India: The company will issue a corporate guarantee of Rs. 3,160 crore for its arm’s solar‑plant project. Company will incorporate an intermediate holding company in Singapore.
- The company plans to divest a 25% stake in its arm, Mahanadi Coalfields Limited (MCL), via an OFS.
- CESC: The company incorporates a new arm named Purvah Poweredge.
- John Cockerill India: The company’s parent grants a second waiver of EUR 5 million for purchase‑price advance payments, effective until June 30.
- HG Infra: The company invests Rs. 48.5 crore in its arm, H.G. Banaskantha Bess, via a rights issue.
- IRFC: The company delivers Rs. 12,842 crore of refinancing support for Hindustan Urvarak and Rasayan Ltd (HURL).
- Birla Corporation: The company’s arm, RCCPL, commissions the third production line at its Kundanganj unit, scaling total capacity to 21.4 MT.
- Avenue Supermarts: The company opens a new store in Bhopal, increasing its total store count to 467.
- AWL Agri: The company receives MCA approval for striking off its arm, AWL Edible Oils and Foods.
- Samvardhana Motherson: The company and its arms will acquire a 28.15% stake in HRDPL, an SPV set up by Hinduja Renewables Energy.
- Syrma SGS Technology: The company appoints Jayesh Nagindas Doshi as Whole‑Time Director.
- Nitco: The company approves allotment of 1.1 crore shares upon conversion of warrants.
- IRB Infrastructure Developers: The company sets April 1 as the record date for its 1:1 bonus share issue.
- Electronics Mart India: The company commences commercial operations of a new store in Delhi.
- Dredging Corporation of India: The company appoints S. Divakar as Managing Director & CEO.
- GOCL Corporation: The company approves early monetisation of its Bengaluru land under a joint‑development agreement with Hinduja Realty Ventures. The project covers ~38 acres, with total consideration of Rs. 2,261 crore, including land and buildings.
- LG Electronics India: The company receives a draft assessment order for FY23 involving disallowances worth Rs. 573 crore. It sees no financial impact and will file objections.
- KPIT Technologies: The company completes transfer of a 26% stake in N‑Dream to its arm, which now holds a 90% stake in the entity.
- ACME Solar: The company commissions the fourth phase of 95 MW capacity of its Battery Energy Storage System (BESS) project.
- Amber Enterprises: The company clarifies that addition of a customer is a normal part of business operations. It also states that reports of a partnership with Sharp for AC manufacturing are not material enough to warrant disclosure.
- ACME Solar: The company commissions the first phase of 60 MW capacity of its Battery Energy Storage System (BESS) project.
- Crompton Greaves: The company’s secretarial function receives ISO certification from Bureau Veritas under the UKAS Management Systems accreditation.
- Persistent systems : The Company appoints Ms. Ruchi Kulhari has been appointed as the Executive Vice President (EVP) and Chief of Staff.
IPO Offering
Central Mine Planning & Design Institute
Offers consultancy and support services across the entire spectrum of coal and mineral exploration and mine planning and design.
Update – Day 2
25% overall subscription
QIBs at 62%
Retail at 17%
NIIs at 8%.
Listing
Raajmarg Infra Investment
The company’s shares will debut on the stock exchange on Tuesday.
The public issue was subscribed 13.7 times on day 3. The bids were led by Qualified institutional investors (19.14 times) & other investors form (7.26 times)
GSP Crop Science
Agrochemical company engaged in the business of manufacturing insecticides, herbicides, fungicides and plant growth regulators. The company’s shares will debut on the stock exchange on Tuesday.
The public issue was subscribed 1.6 times on day 3. The bids were led by Qualified institutional investors (2.6 times), non-institutional investors (3.05 times), retail investors (0.4 0 times).
IPO To Open
Amir Chand Jagdish Kumar: A processor and exporter of basmati rice and other FMCG products in India. Operates fully integrated operations across the basmati rice value chain. The issue is entirely a fresh issue of of Rs. 440.00 crore & Price Band at Rs. 201 Rs. 212
Powerica IPO: A power solutions company specializing in diesel generator sets for main and backup use. Total Issue Size of Rs. 1,100 Cr with fresh issue of Rs. 700 Cr & Offer for Sale of Rs. 400 Cr. The price band is set at Rs. 375 to Rs. 395
Sai Parenteral: Diversified pharmaceutical formulations company. Total Issue Size of Rs. 409 Cr with fresh issue of Rs. 285 Cr & Offer for Sale of Rs. 124 Cr. The price band set at Rs. 372 to Rs. 392.
Bulk & Block Deals
AvenuesAI: Hn safal infra developers bought, Samyaktva construction sold 6.60 crore shares for Rs. 13.1 per share
DCX Systems: Neomile growth fund-series I sold 9.31 lakh shares for Rs. 181.86 per share
J.Kumar Infraprojects: Harsh anandkumar jain sold, K J trust bought 6.63 lakh shares for Rs. 466 per share
Siyaram Silk Mills: Abhishek shrikishan poddar sold, Dpp enterprises bought 3.15 lakh shares for Rs. 459.4 per share
SpiceJet: F3 advisors sold 79.99 lakh shares for Rs. 11.06 per share
Onix Solar Energy: Radadiya niravkumar gopalbhai bought 1.68 lakh shares, Satani chhaganbhai ratilalbhai sold 2.39 lakh shares for Rs. 730.90 per sharee
Corporate Actions
Board Meeting: NATCO Pharma : Co to consider Scheme of Arrangement for demerger
LOCK IN:
Ivalue Infosolution: 6 months lock in, 23.9 mn lock in shares, 45% of total outstanding shares
GK Energy: 6 months lock in, 131 mn lock in shares, 65% of total outstanding shares
Insider trade
Electrosteel Castings: Electrosteel Thermal Coal, Promoter Group, acquired 6 lk shares
Jindal Stainless: Jsl Overseas Holding, Promoter Group, acquired 81,251 shares
V-Mart Retail: Lalit Agarwal, Promoter & Director acquired 69,120 shares
HCL Technologies: Vama Sundari Investments, Promotor acquired 88,614 share
Additional Surveillance Measure (ASM)
List of securities shortlisted in Short – Term ASM Framework Stage: Nitco Limited, Websol Energy System
List of securities to be excluded from ASM Framework : Adani Total Gas
Price Band
Price Band change from 20% to 10%: Gujarat Alkalies and Chemicals, IDBI Bank
F&O Cues
Nifty March futures is down 2.78% to 22,497.80 at a discount of 14.85 points.
Nifty Options 24th March Expiry: Maximum Call open interest at 24,000 and Maximum Put open interest at 21,000.
Securities in ban period: SAIL, SAMMAANCAP
Currency Check
The rupee breached the 94 per dollar barrier for the first time, slumping 50 paise to a new record closing low of 94.03 (provisional) against the greenback on Monday, as spiralling global crude prices and unabated foreign fund outflows unnerved investors.
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