Published on: March 27, 2025
Indian auto stocks closed with losses of up to 5.5% on March 27, led by Tata Motors, after U.S. President Donald Trump imposed a 25% tariff on auto imports. The Nifty Auto index dropped 1% to 21,516.75, with most stocks initially plunging up to 7% before recovering slightly.
Tata Motors, which exports Jaguar Land Rover (JLR) cars to the U.S., faced heavy selling pressure, while Samvardhana Motherson International fell 7% in early trade before closing 2.6% lower. Ashok Leyland was hit by a double blow, as it announced plans to halt production at its UK electric bus subsidiary, Switch Mobility, amid financial losses, and Hinduja Automotive pledged 30% of its holdings.
Other auto stocks, including Bharat Forge, Eicher Motors, Bajaj Auto, and Apollo Tyres, also ended lower. However, Hero MotoCorp, Bosch, TVS Motor, and Exide Industries managed to recover and close in the green, with Hero gaining 3%.
Market experts suggest that while FIIs remain relatively unaffected by the tariffs, domestic institutional investors (DIIs) are taking a cautious stance. The White House has confirmed that no exemptions will be granted to other countries, reinforcing concerns over a global supply chain disruption.
Published on: March 27, 2025
Pharma stocks faced selling pressure on March 27, as investor sentiment soured over fears that U.S. President Donald Trump’s tariff policies could extend to the healthcare sector. The Nifty Pharma index dropped 1.4% to 21,061, making it the worst-performing sector on the NSE.
J B Chemicals led the losses, plummeting nearly 7% to ₹1,592 after 90 lakh shares (5.78% stake) changed hands in a block deal, reportedly linked to global PE firm KKR’s $200 million stake sale. Ajanta Pharma, Lupin, Granules, and Zydus Lifesciences also saw declines of over 2-3%, while Sun Pharma, Dr. Reddy’s, and Divi’s Labs slipped more than 1%.
However, Glenmark Pharmaceuticals and Mankind Pharma bucked the trend, posting gains of over 1%. Meanwhile, international pharma giant Eli Lilly hinted at the possibility of manufacturing its weight-loss drug, Mounjaro, in India, with analysts predicting intense competition in the GLP-1 market post-2026.
Published on: March 27, 2025
Shares of Wipro Ltd rose by 2.37% to Rs 273.60 on Thursday after the company announced a 10-year, $650 million (£500 million) contract with ReAssure UK Services Limited, a part of Phoenix Group, the UK's largest long-term savings and retirement business. The deal aims to enhance life and pension business administration and accelerate Phoenix Group’s operational transformation.
As part of the agreement, Wipro will modernize the ALPHA policy administration platform using AI, automation, cloud, and digital transformation technologies. This initiative is expected to improve efficiency and customer experience while strengthening Wipro’s presence in the UK with new technology and operational hubs.
Wipro’s stock has gained 14.78% over the past year and 50% in two years. The company reported a 24.48% YoY rise in net profit for Q3 FY25, reaching Rs 3,353.8 crore, while revenue from operations grew slightly to Rs 22,318.8 crore. Despite trading above its short-term moving averages, the stock remains below its 20-day, 30-day, and long-term moving averages.
Published on: March 27, 2025
Shares of major Indian auto and auto component manufacturers plunged on March 27 following U.S. President Donald Trump’s announcement of a 25% tariff on imported cars and key auto parts. Tata Motors, Sona BLW Precision Forgings, and Samvardhana Motherson saw declines of up to 7% as investors worried about the impact of higher costs on Indian firms with significant export exposure.
While fully assembled vehicle exports from India to the U.S. are limited, auto component makers with large international sales are expected to bear the brunt of rising costs. Companies like Tata Motors (through JLR), Eicher Motors (via Royal Enfield exports), and auto component giants such as Sona BLW and Samvardhana Motherson are likely to experience margin pressure as global automakers pass on higher costs.
JLR, a subsidiary of Tata Motors, relies on the U.S. for 22% of its total sales, and its UK-manufactured vehicles will now attract tariffs. Meanwhile, Sona BLW derives 66% of its revenue from the U.S. and Europe, making it highly vulnerable. Motherson, though impacted, has mitigated risk by establishing local manufacturing facilities in the U.S. and Europe.
Other auto component firms with U.S. exposure, including Bharat Forge, Sansera Engineering, Suprajit Engineering, and Balkrishna Industries, also saw declines. The Nifty Auto index closed 1% lower, reflecting investor concerns over the potential long-term impact of U.S. trade policies on India’s auto sector.
Published on: March 27, 2025
The basis of allotment for Desco Infratech’s IPO is set to be finalized today, March 27, 2025, after the SME public issue received an overwhelming response from investors. The IPO, which closed on March 26, was oversubscribed by 77.74 times, with the highest demand coming from Non-Institutional Investors (NIIs) at 171.28 times, followed by retail investors at 50.62 times and Qualified Institutional Buyers (QIBs) at 28.76 times.
Investors can check their IPO allotment status on the BSE website and through Bigshare Services, the registrar of the issue. The ₹30.75 crore IPO, priced at ₹150 per share with a lot size of 1,000 shares, will help fund the company’s capital expenditure, including setting up a corporate office in Surat and purchasing machinery.
In the grey market, Desco Infratech shares are trading at a ₹12 premium, indicating an 8% gain over the issue price. The stock is expected to list on the BSE SME platform on April 1, 2025. However, market experts caution that GMP is an unofficial indicator and may not reflect actual listing performance.
Desco Infratech specializes in infrastructure and maintenance services for India's city gas distribution and power sectors, including pipeline laying, testing, commissioning, and cable installations.
Published on: March 27, 2025
Infosys has laid off at least 30 to 45 trainees from its Mysuru campus on March 26 after they failed to meet the company’s internal assessment criteria despite additional training, mock tests, and doubt-clearing sessions. This follows a previous round of terminations, where around 350 trainees were let go from the same campus.
However, Infosys is offering affected trainees a second chance through a 12-week Business Process Management (BPM) training program, which the company will sponsor. Those opting for this opportunity may qualify for alternative roles within the company. Additionally, Infosys will provide a one-month ex gratia payment and a relieving letter to the terminated employees.
Meanwhile, India’s IT sector continues to face global headwinds, particularly due to escalating trade tensions and new US tariffs. The IT index has dropped 15.3% this year, with major firms like Infosys, TCS, Wipro, and HCLTech seeing stock declines between 11.2% and 18.1%. Experts anticipate continued challenges as the sector navigates economic uncertainties and evolving international policies.
Published on: March 27, 2025
Indian auto component makers are expected to bear the brunt of US President Donald Trump’s new 25% tariff on imported automotive parts, set to take effect in May. While Indian vehicle manufacturers have minimal direct exports to the US, the country’s auto component industry exported $6.79 billion worth of parts to the US in FY24, making it more vulnerable to the tariff hike.
Industry analysts note that key exports such as engine components, powertrains, and transmissions will be affected. However, JATO Dynamics India President Ravi G Bhatia downplayed the impact, stating that while the tariff poses a challenge, Indian suppliers can adapt to retain market share due to the country's cost-competitive manufacturing.
Some leading Indian auto component firms, including the Motherson Group, have already set up manufacturing plants in Mexico and Canada to leverage NAFTA benefits and minimize tariff exposure. Meanwhile, industry bodies ACMA and SIAM have yet to comment on the development.
While the tariff increase may push up vehicle prices in the US, it could also cause Indian automakers considering expansion into the US, particularly in the EV segment, to reassess their plans. The long-term impact of Trump’s tariff policy on the Indian auto industry remains to be seen as stakeholders evaluate their strategic responses.
Published on: March 27, 2025
Indian equity markets rebounded on Thursday, with the BSE Sensex rising 317.93 points (0.41%) to close at 77,606.43 and the NSE Nifty50 gaining 105.10 points (0.45%) to settle at 23,591.95. The recovery was driven by strong buying in PSU banks, oil & gas, and financial stocks, while auto and pharma stocks faced selling pressure.
Top gainers among Nifty50 stocks included Hero MotoCorp, Bajaj Finserv, and IndusInd Bank, while Tata Motors, Sun Pharma, and Eicher Motors were among the top laggards. The Nifty PSU Bank index outperformed, surging 2.50%, led by Bank of Baroda and Punjab National Bank.
Market sentiment was supported by foreign institutional investor (FII) inflows and optimism over double-digit earnings growth in FY26, driven by easing inflation and interest rates. Analysts noted that Nifty has found support near 23,390 and faces resistance at 23,800–23,810. If the index sustains above this level, it could rally towards 24,000.
With India VIX cooling by 1.26% to 13.30, volatility remains subdued. Traders are advised to adopt a "buy on dips" strategy while keeping an eye on global developments, including the ongoing US-India trade discussions.
Published on: March 27, 2025
SpiceJet has successfully resolved its dispute with global aircraft engine lessor Willis Lease Finance Corporation, leading to the withdrawal of an insolvency case against the airline. This settlement marks a key milestone in SpiceJet’s ongoing financial restructuring efforts.
The airline’s turnaround has been supported by a ₹3,000 crore capital infusion through a qualified institutional placement (QIP) in September 2024, alongside an additional ₹294.09 crore investment from promoter Ajay Singh. These funds have helped SpiceJet clear outstanding liabilities and focus on operational growth.
Chairman and Managing Director Ajay Singh stated that the agreement with Willis Lease demonstrates the positive impact of its financial restructuring and reinforces investor confidence. This follows previous settlements with multiple lessors, including Genesis, Horizon Aviation, and Aircastle, as part of a broader strategy to reduce liabilities and ensure long-term sustainability.
The oversubscribed QIP, backed by 87 domestic and international investors, played a crucial role in SpiceJet’s ability to meet its financial commitments. Since September 2024, the airline has systematically cleared several dues, strengthening its position for future growth.
Published on: March 27, 2025
The Securities and Exchange Board of India (Sebi) is investigating potential insider trading by senior officials of IndusInd Bank following the lender’s recent disclosure of ₹1,500 crore in derivative losses. The probe focuses on trades executed by five senior executives who may have had access to unpublished price-sensitive information before the official disclosure. Sebi is also assessing whether the bank violated disclosure norms.
IndusInd Bank reported the derivative losses on March 10, nearly 15 months after an RBI directive mandated marking all derivative transactions to market. The late disclosure led to a sharp 27% plunge in IndusInd’s stock price on March 11, closing at ₹656 on the BSE.
The regulator is particularly scrutinizing whether the executives' stock trades, including those related to ESOP encashment, complied with insider trading regulations. Experts emphasize that key managerial personnel (KMPs) are prohibited from trading based on non-public information and must follow predefined trading plans to avoid regulatory action. IndusInd Bank and Sebi have yet to comment on the matter.
Published on: March 27, 2025
Jaiprakash Associates Ltd (JAL) suffered a valuation setback after the Allahabad High Court upheld the Yamuna Expressway Industrial Development Authority’s (YEIDA) decision to cancel 1,000 hectares of land allocated for its sports city project near New Delhi. The cancellation impacts the real estate company’s assets as it undergoes insolvency proceedings, with total claims amounting to ₹64,552 crore, of which ₹51,512 crore have been admitted.
JAL, which owns cement plants, power projects, roads, and real estate assets, has drawn interest from 24 bidders, including Jindal Power, Adani, Suraksha, and Torrent Group. Despite efforts to argue for a partial cancellation, the court ruled in favor of YEIDA, citing non-payment of dues and failure to develop core sports infrastructure.
The company’s prime land near the upcoming Jewar International Airport remains a key attraction for investors, along with its cement manufacturing capacity, hotels in NCR, and hydropower projects. Meanwhile, lenders, including SBI, ICICI Bank, and LIC, have transferred JAL’s unpaid loans and financial assets to National Asset Reconstruction Ltd, further shaping the insolvency resolution process.
Published on: March 27, 2025
The BSE Sensex rebounded sharply on Thursday, gaining 317.93 points (0.41%) to close at 77,606.43, driven by strong buying in HDFC Bank, Reliance Industries, L&T, and Bajaj Finance. The index surged as much as 458.96 points intraday, reaching 77,747.46 before paring some gains.
The NSE Nifty also ended higher, rising 105.10 points (0.45%) to settle at 23,591.95. The recovery came amid the expiry of monthly derivative contracts, with foreign institutional investors (FIIs) playing a key role in boosting sentiment.
Market experts attribute the gains to renewed FII interest and strong performances by heavyweight stocks, helping offset concerns over recent volatility and global uncertainties.
Published on: March 27, 2025
Tata Motors' board has approved the allotment of 2,00,000 Non-Convertible Debentures (NCDs) worth ₹2,000 crore on a private placement basis to marquee investors, including HDFC Bank, BNP Paribas, and Reliance General Insurance. The NCDs, rated AA+/Stable by Crisil, will be listed on the NSE.
The allotment was carried out in multiple tranches, with 50,000 NCDs allocated to HDFC Bank in Tranche I and 60,000 NCDs to BNP Paribas in Tranche II, among others. Earlier, on March 19, the company had approved the issuance of these NCDs at a coupon rate of 7.65%.
Despite this fundraising development, Tata Motors' shares faced heavy selling pressure, plunging 5.56% to close at ₹668.60 on the BSE. The decline was triggered by concerns over a 25% tariff on imported cars and auto parts announced by the U.S., a key market for Tata Motors-owned Jaguar Land Rover (JLR). The stock hit an intraday low of ₹677.05 as investors reacted to the potential impact on JLR’s sales and profitability.
Published on: March 27, 2025
The Indian stock market remained volatile on Thursday as both benchmark indices traded in the red due to profit-booking and concerns over potential U.S. tariffs. The BSE Sensex declined by 68.54 points (0.09%) to 77,219.96, while the NSE Nifty 50 slipped 32.55 points (0.14%) to 23,454.30. This follows Wednesday’s weak closing, where both indices snapped a seven-session winning streak.
Selling pressure in banking and financial stocks, particularly HDFC Bank and Reliance Industries, weighed on market sentiment. Auto stocks also faced declines, with Tata Motors dropping 5% amid demand concerns. However, IT stocks like Infosys and TCS saw selective buying.
Investor sentiment was dampened by uncertainty over U.S. tariff policies and the nearing expiry of March derivatives contracts. Analysts highlight that the Nifty 50 is testing a key support level at 23,400, with potential for a rebound if sustained. However, a breakdown below this mark could lead to further declines, with the next support at 23,200. Experts advise a stock-specific approach amid ongoing market consolidation.
Published on: March 26, 2025
Analysts remain optimistic about India's automobile sector, anticipating a demand recovery from April onwards, coinciding with the festive and wedding seasons. The recent slowdown in passenger vehicle and two-wheeler demand is expected to reverse as tax cuts from the FY26 budget benefit 3.5 lakh taxpayers, increasing disposable income and boosting discretionary spending. Additionally, the salary hike for public-sector employees is expected to further drive auto demand, according to Jefferies.
The brokerage projects a compound annual growth rate (CAGR) of 14% for two-wheelers and 9% for passenger vehicles between FY25 and FY27. Mahindra & Mahindra, Eicher Motors, TVS Motor, and Maruti Suzuki are among its top picks in the sector.
Bank of America (BofA) emphasized that April will be a crucial month to assess demand recovery, as liquidity easing is also expected to aid growth. The brokerage prefers Eicher Motors, Mahindra & Mahindra, and Maruti Suzuki as key stocks to watch.
In recent months, retail trends for both two-wheelers and passenger vehicles have been weak. March saw an 11% year-on-year drop in two-wheeler registrations, while passenger vehicle registrations declined by 6%, according to Jefferies. Rising inventories in the passenger vehicle segment and financing challenges in the two-wheeler segment indicate ongoing demand struggles.
Despite recent dips, the Nifty Auto index rebounded 0.62% on Wednesday, reaching 21,872.55. As of 9:48 a.m., it was trading 0.04% higher at 21,746.75, while the Nifty 50 declined 0.09%. Exide Industries, Samvardhana Motherson International, Ashok Leyland, and Bosch led gains in the auto index.