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India Market Recap
Indian equity benchmarks ended higher after a post-lunch rebound, snapping a three-day losing run. The gains in the benchmark indices were led by HDFC Bank and M&M. The BSE Sensex rebounded 1,500 points from the day’s low and closed up 1%, or 700 points, above 75,300. The NSE Nifty 50 ended 0.9% higher above 23,340.
Oil prices remained elevated, with WTI crude up 1% at $100.06 a barrel and Brent crude higher by 2.2% at $105.37.
ALSO READ: Trade Setup For March 17: Nifty Faces Resistance At 23,500-23,550 As Index Breaks Losing Streak
Stocks In News
- GMDC: The company enters a strategic collaboration pact with NMDC to explore opportunities in the Rare Earth Elements sector.
- RVNL: The company receives a Letter of Award (LoA) worth Rs 95 crore from NMDC.
- Bharat Forge: PI Opportunities Fund completes the acquisition of a 23% stake in the company’s arm, JS Auto, for Rs 300 crore.
- L&T Technology Services: The company launches an Nvidia-powered AI Lung Digital Twin platform for advanced respiratory diagnostics.
- Cupid: The company announces a strategic branding alignment of “Japanese Quality” for its “Made in India” products and is developing a Nitrile female condom.
- Sun Pharma: US FDA accepts the supplemental Biologics License Application (sBLA) for ILUMYA to treat active psoriatic arthritis.
- Sagar Cements: The company will sell a 7.24% stake in its arm, Andhra Cements, via an OFS with a floor price of Rs 52 per share.
- Asian Energy Services: Vedanta extends the company’s Operations & Maintenance (O&M) contract for one year at existing rates.
- Tata Motors: The company will increase prices of its commercial vehicles by up to 1.5% starting April 1 to offset rising input and commodity costs.
- Atlanta Electricals: Its arm, Atlanta Trafo, receives approval to convert from a private to a public limited company.
- HUDCO: The board will meet on March 23 to consider a fourth interim dividend and the annual resource plan for FY27.
- Carborundum Universal: The company commences commercial production of thin wheels at its manufacturing unit in Hosur.
- Power Mech Projects: The company secures an order worth Rs 710 crore from Adani Infrastructure Management.
- Tinna Rubber and Infrastructure: Abhay Kumar is appointed as the Chief Financial Officer of the company.
- NOCIL: The company will incur a capex of Rs 130 crore for capacity expansion at its Dahej manufacturing plant.
- GSK Pharma: Juby Chandy resigns from the positions of CFO and Whole-Time Director.
- Fiem Industries: The company commissions a new Electromagnetic Interference (EMI) and Electromagnetic Compatibility (EMC) laboratory in Gurugram.
- Dixon Technologies: The company will provide a corporate guarantee of $10 million in favour of Foxlink.
- RailTel Corp: The company bags a work order worth Rs 42 crore from National Informatics Centre Services Incorporated.
- Arkade Developers: NCLT sanctions a scheme of arrangement between Filmistan Private and the company.
- Thermax: The company’s shareholding in its arm FE8PL reduces to 62.15% after a captive user acquires a 14% stake.
- Omaxe: Its arm receives RERA registration for two commercial projects located in Haryana and Punjab.
- MedPlus Health: The company approves the incorporation of a new private company as its arm.
- Alkyl Amines: The company reports logistics disruptions and challenges in procuring Ammonia due to the Middle East conflict; financial impact is currently under assessment.
- India Cements: The company will acquire a 10.8% stake in First Energy 8 for Rs 18.7 crore.
- Afternoon Energies: Its arm completes the $30 million acquisition of 53 lakh shares in United Solar Holding; separately, the company intends to contest claims in a sales pact arbitration.
- Reliance Industries (RIL): The company signs a 15-year green ammonia supply pact valued at over $3 billion with Samsung C&T.
- Adani Enterprises: NCLT sanctions a scheme of arrangement to amalgamate Adani Green Tech and Adani Emerging Businesses into the company.
- Astral: The company will acquire a 19% stake in Vena Energy Sustainable Power for Rs 9 crore.
- Nucleus Software: Mrs. Yasmin Javeri Krishan is appointed as the Chairperson of the company.
- Satin Creditcare: The board meeting to consider a fund-raising proposal has been deferred.
- Anand Rathi Wealth: SEBI takes on record the final Private Placement Memorandum for the launch of a new scheme.
- Bajaj Electricals: The company acquires the Morphy Richards brand rights for a consideration of Rs 141 crore.
- Hindustan Zinc: Axis Trustee Services is appointed as the Debenture Trustee for the company.
- Quess Corp: Lohit Bhatia is reappointed as the Group CEO, effective June 1.
- Axiscades Technologies: The company will acquire a 24% stake in Cades Studec Technologies for $1.5 million.
- Zydus Lifesciences: Its arm, Sentynl Therapeutics, enters a pact with PRG S&T to license a molecule for Hutchinson-Gilford Progeria Syndrome.
- Angel One: The board will meet on March 20 to consider a second interim dividend for the current year.
- Redington: Its arm’s Gulf region operations are currently restricted and facing increased freight costs due to shipment re-routing.
- Embassy Developments: Three step-down arms are struck off from the register, and the company allots NCDs worth Rs 25 crore.
- Leela Palaces Hotels: The company will invest Rs 231 crore in its arm, Leela Luxe Hotels, which is set to buy a business undertaking from Pai Vista Hotels for Rs 560 crore and has acquired an ultra-luxury resort in Coorg.
- Oberoi Realty: The company enters into a development pact for land parcels located in Mumbai.
- HFCL: The company expects to complete the sale of its 2.18 lakh shares in Nivetti Systems by June 30.
ALSO READ: MakeMyTrip Evaluates India IPO As It Completes Restructuring Of Business
Bulk Deals
- AGI Infra: WIINANCE FINANCIAL SERVICES bought 9.10 lk shares for Rs. 305.29 per share.
- Infrastructure project capacity: POLUNIN EMERGING MARKETS SMALL CAP FUND sold 4.31 lakh shares for Rs. 182.74 per share.
- Sundaram Clayton: CHINMAY G PARIKH bought 2.34 lk shares for Rs. 1,271.69 per share.
- Onix Solar Energy: GREENX WEALTH MULTIHORIZONS OPPORTUNITY FUND bought 1.80 lakh shares for Rs. 715 per share, ISHAAN TRADEFIN sold 1.70 lk shares for Rs. 709.4 per share.
Board Meeting
- Five-Star Business Finance – Fund Raising
- Power Finance Corporation – Fund Raising
Insider Trades/Pledge
- MSP Steel & Power: Shree Vinay Finvest, Promoter Group, bought 9.03 lk shares, Jagran Vyapaar, Promoter Group, bought 11.40 lk shares, Ilex, Promoter Group, bought 2 lakh shares.
- NCC: Sirisha Projects, Promoter, bought 4.26 lakh shares.
Trading Tweaks
Price Band changes: NIL
Short Term ASM
- List of securities shortlisted in Short – Term ASM Framework Stage: NIL
- List of securities to be excluded from ASM Framework: GNG Electronics Limited
F&O Cues
- Nifty March futures is up 0.82% to 23,390.00 at a discount of 18.8 points.
- Nifty Options 17th March Expiry: Maximum Call open interest at 24000 and Maximum Put open interest at 22000.
- Securities in ban period: SAIL, SAMMAANCAP
ALSO READ: TCS, Dabur, Kotak Mahindra Bank Among 10% Large-Cap Stocks That Gave Negative Returns In 5 Years
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