Published on: March 25, 2025
Britannia Industries’ Jhagadia plant in Gujarat has been partially impacted by a strike that began on Tuesday. The company is in discussions with workers to resolve the situation amicably while managing demand through available resources. Any material developments will be communicated to stock exchanges.
Despite the operational disruption, Britannia Industries recently reported a 4.5% YoY increase in Q3FY25 net profit to ₹582 crore, with revenue rising 8% to ₹4,593 crore. For the nine-month period ending December 31, 2024, consolidated sales grew 5% to ₹13,159 crore, while net profit increased 1.3% to ₹1,619 crore.
Shares of Britannia Industries closed at ₹4,796.7 on Monday, down 0.4%, underperforming the Sensex's 1.4% gain. Over the past six months, the stock has declined 23%, though it has gained 54% over three years. Analysts maintain a 'Buy' rating, with a target price of ₹5,287, implying a 10% upside. Technical indicators suggest a bearish trend, with the stock trading below its 50-day, 100-day, 150-day, and 200-day SMAs.
Published on: March 25, 2025
REC Ltd. announced on Tuesday that its subsidiary, REC Power Development and Consultancy Ltd. (RECPDCL), has successfully handed over four project-specific Special Purpose Vehicles (SPVs). Three of these SPVs were transferred to Power Grid Corporation of India Ltd., while one, Ratle Kiru Power Transmission Ltd., was handed over to IndiGrid 2 Private Ltd.
The Ratle Kiru project involves constructing a 150-km, 400 kV transmission line connecting Samba (J&K) to Jalandhar (Punjab), along with a 35-km, 400 kV line between Kishenpur (J&K) and Samba. Additional associated works are also included, with the project estimated to cost around ₹1,407.44 crore. This development aims to enhance power transmission infrastructure in northern India, strengthening grid connectivity and reliability.
Published on: March 25, 2025
The Indian stock market experienced high volatility on March 25, with the Sensex swinging nearly 700 points before closing flat. The BSE Sensex ended at 78,017.19, gaining just 32.82 points (+0.04%), while the NSE Nifty settled at 23,668.65 (+0.04%). Nifty Bank struggled, closing 0.19% lower at 51,607.95.
IT stocks emerged as the session’s bright spot, supported by global cues and favorable valuation corrections. However, the broader market saw profit booking, especially in mid and small-cap stocks. UltraTech Cement, Bajaj Finserv, Trent, Grasim, and Infosys were the top Nifty gainers, while IndusInd Bank (-5%), Dr. Reddy’s, Coal India, and Adani stocks led the losers.
Sectoral indices were mostly in the red, with auto, capital goods, metals, PSU banks, and telecom stocks declining 1-1.5%. The BSE Midcap index dropped 1%, while the Smallcap index slid 1.5%. Market breadth remained weak, with 2,258 stocks declining against 674 gainers. Additionally, 96 stocks hit 52-week lows, compared to just 30 reaching fresh highs.
Analysts predict cautious trading ahead, with key support levels at 23,600/77,700. A break below these levels could trigger further declines, while resistance remains at 23,900/78,500.
Published on: March 25, 2025
Piombino Steel Ltd. (PSL), a subsidiary of JSW Steel Ltd., has approved a share buyback worth ₹1,676.45 crore, as per an exchange filing on Tuesday. PSL will repurchase 22.26 crore equity shares at ₹75.3 apiece. JSW Steel’s board has also approved tendering the same number of shares under the buyback, though it represents only a fraction of its 508 crore shares in PSL, where it holds an 83.28% stake.
In a separate move, JSW Steel announced the transfer of its Salav unit in Maharashtra to its wholly owned subsidiary, JSW Green Steel Ltd., on a slump sale basis. The unit, with a 0.9 MTPA direct reduced iron capacity, will contribute to JSW’s long-term sustainability goals, supporting the planned 4 MTPA green steel plant.
Shares of JSW Steel closed 0.03% higher at ₹1,061.7 on the NSE, in line with the benchmark Nifty’s 0.04% gain. The stock has risen 29.2% in the past year but is down 17.8% year-to-date. Of 35 analysts covering the stock, 20 have a 'buy' rating, while the 12-month consensus price target implies a potential downside of 5.1%.
Published on: March 25, 2025
Bharti Airtel’s Vice Chairman and Managing Director, Gopal Vittal, has been elected as the chairman of the GSMA board of directors until the end of 2026. Currently serving as the acting chair, Vittal will now oversee the strategic direction of the London-based global telecom industry body, which represents over 1,000 companies across the mobile ecosystem, including telecom operators, handset manufacturers, software firms, and internet service providers.
Vittal becomes the second Indian, after Bharti Enterprises Chairman Sunil Mittal, to hold this prestigious position, highlighting Airtel’s growing global influence. Emphasizing GSMA’s role in driving innovation, Vittal noted that the mobile industry contributed $6.5 trillion to the global economy in 2024. His leadership is expected to steer the organization towards further advancements in mobile technology and connectivity.
Published on: March 25, 2025
Shares of IndusInd Bank tumbled over 5% on Tuesday following reports that external auditor PwC is set to submit its findings to the bank’s board on Friday regarding alleged accounting discrepancies in its derivatives portfolio.
The stock fell 4.76% to close at ₹637.30 on the BSE, after hitting an intraday low of ₹633.55 (-5.32%). On the NSE, it declined 5.12% to ₹635.15 per share. The sharp drop wiped out ₹2,481 crore from the bank’s market valuation, as investor sentiment weakened over concerns about potential financial misstatements.
Published on: March 25, 2025
The Indian Renewable Energy Development Agency Ltd. (IREDA) is set to hold a board meeting on Tuesday, March 25, 2025, to finalize its borrowing strategy for the financial year 2026. The funds raised will support IREDA’s lending activities in renewable energy projects, including solar, wind, hydro, and biomass.
Shares of IREDA rose 3.96% intraday to ₹176.77 but later trimmed gains, trading 1.07% higher at ₹171.86 as of 10:36 a.m. The stock has gained 22.10% over the past year, outperforming the NSE Nifty 50’s 0.28% rise for the day. Trading volume stood at 6.2 times its 30-day average, with a relative strength index of 59.
Analysts remain divided on the stock, with one recommending a ‘buy’ and the other a ‘sell.’ The 12-month average price target implies a 15.8% upside. Established in 1987 under the Ministry of New and Renewable Energy, IREDA plays a crucial role in financing India’s clean energy transition.
Published on: March 25, 2025
Most financial stocks, including banks, traded higher on Tuesday, March 25, 2025, following the Reserve Bank of India's (RBI) revised Priority Sector Lending (PSL) guidelines. The Nifty Bank index surged past the 52,000 mark, hitting an intraday high of 52,058.55, while Nifty Private Bank, PSU Bank, and Financial Services indices gained up to 0.84%.
Leading gainers included HDFC Bank (+2.26%), Bajaj Finserv (+2.45%), and SBI Card (+2%). However, some stocks, like Shriram Finance and LIC Housing Finance, saw profit booking. The new PSL norms classify housing loans up to ₹50 lakh in major cities and ₹45 lakh in smaller cities as priority sector lending. Additionally, the renewable energy loan limit was raised to ₹35 crore.
Analysts view these changes as a positive step for banks, aiding credit growth and improving financial inclusion. Institutions like HDFC, ICICI, and SBI are expected to benefit the most from these reforms, which take effect on April 1, 2025.
Published on: March 25, 2025
Shares of Colgate Palmolive (India) Ltd. dropped to a 52-week low in early trade on Tuesday as the company flagged ongoing challenges due to a demand slowdown and increased promotional spending. The management, in a discussion with select analysts, indicated muted growth for the fourth quarter, citing a high base effect and weaker demand.
Despite price hikes, profitability remains under pressure due to increased discounts and promotional costs. Analysts project marginal revenue and volume growth, with a 9% decline in EBITDA and net profit for the January-March period.
The stock fell 3.5% intraday to ₹2,341, down 13% over the past year. While eight out of 34 analysts recommend a ‘buy,’ the average 12-month target suggests a potential 20% upside.
Published on: March 24, 2025
On March 24, 2020, India came to a standstill as Prime Minister Narendra Modi announced a 21-day nationwide lockdown to curb the spread of Covid-19. With only a four-hour notice, public transport stopped overnight, businesses shut down, and 1.3 billion people were confined to their homes.
The lockdown, initially aimed at preventing the healthcare system from collapsing, triggered panic buying and left millions of migrant workers stranded, leading to a humanitarian crisis. Despite a ₹15,000 crore government allocation for healthcare and a $22.6 billion relief package, the impact was severe, with job losses, hunger, and a mass exodus of workers.
While the restrictions initially slowed the virus, Covid-19 cases continued to rise, with the first major wave peaking in September 2020. The stock markets also crashed, with Sensex and Nifty witnessing their worst single-day falls in history on March 23, 2020, before rebounding after the lockdown announcement.
Five years later, India has moved on, but the scars remain. The lockdown exposed gaps in the healthcare system, economic vulnerabilities, and the struggles of informal workers. However, it also accelerated digital adoption, showing how technology could aid public health management. The memories of empty streets, desperate migrant journeys, and a nation fighting an invisible enemy remain a stark reminder of a historic moment in India’s history.
Published on: March 24, 2025
Mahindra & Mahindra (M&M) is reportedly in advanced discussions to acquire Sumitomo Corporation’s entire 43.96% stake in SML Isuzu, a move that could signal M&M’s strategic expansion into the commercial vehicle sector, according to a CNBC-Awaaz report.
M&M is evaluating a share price of ₹1,400–1,500 per share for the proposed deal. Following the news, SML Isuzu shares surged 7.9% intraday to ₹1,785.80 before settling 5% higher at ₹1,738.40, with a market cap of ₹2,518.57 crore.
The acquisition could position M&M as a strong contender in the heavy vehicle market, challenging Tata Motors and Ashok Leyland. M&M’s board is expected to meet this week to assess the acquisition proposal, though the company has declined to comment on speculation.
As of December 2024, Sumitomo Corporation owned 43.96% of SML Isuzu, while Japan’s Isuzu Motors held 15% through a separate entity. SML Isuzu has been facing financial struggles, with Q3 net profit plunging 80.22% year-on-year to ₹0.53 crore, and sales dropping 14.07% to ₹331.80 crore.
This is not the first acquisition rumor surrounding SML Isuzu—JBM Auto was previously reported as a potential buyer in June 2023. If finalized, M&M’s entry into the commercial vehicle space could significantly reshape India’s trucking and bus market.
Published on: March 24, 2025
The Indian rupee appreciated against the US dollar on Monday, opening 3 paise higher at 85.94, supported by strong foreign inflows and a decline in crude oil prices. The rupee had settled at 85.97 per dollar on Friday, marking an over two-month high and eight consecutive sessions of gains.
The rally was fueled by an estimated $1.5 billion inflow from FTSE All-World Index rebalancing, improved domestic equity sentiment, and the unwinding of speculative long-dollar positions, according to Abhishek Goenka, CEO of India Forex & Asset Management (IFA Global).
Market participants awaited the Reserve Bank of India’s (RBI) buy-sell swap auction on March 24, amid speculation about the central bank’s intervention in currency markets. Analyst Anil Kumar Bhansali noted that the government is cautious about RBI being termed a currency manipulator by the US government.
Meanwhile, crude oil prices declined, providing additional support to the rupee. OPEC and its allies announced plans to increase output by 138,000 barrels per day starting in April. Brent crude futures were trading 0.46% lower at $71.83 per barrel as of 8:55 a.m..
The dollar index remained steady at 104.10, as traders monitored global economic cues. Experts predict the rupee to trade in the 85.60–86.60 range in the near term.
Published on: March 24, 2025
Shares of Power Grid Corporation of India Ltd. climbed 3.4% in early trade on Monday, reaching an intraday high of ₹292.65 on the BSE. The rally follows the company's acquisition of special purpose vehicles (SPVs) Fatehgarh II, Barmer I PS Transmission, and Chitradurga Bellary REZ Transmission for ₹26.57 crore from PFC Consulting.
The Rajasthan-based Fatehgarh II and Barmer I PS Transmission project involves ICT augmentation at key substations, while the Karnataka-based Chitradurga Bellary REZ Transmission project includes setting up new 765/400/220kV pooling substations and transmission lines to strengthen the regional power infrastructure.
Additionally, Power Grid’s Board will meet on March 26, 2025, to discuss the issuance of debentures, bonds, and commercial papers for FY 2025-26. Over the past year, Power Grid shares have gained 5%, compared to Sensex’s 6% rise.
Published on: March 24, 2025
Shares of Finolex Cables and Finolex Industries rallied up to 13% in Monday’s intra-day trade on the BSE, driven by heavy trading volumes. Finolex Cables surged 12% to ₹940.70, while Finolex Industries soared 13% to ₹196.95. Trading volumes jumped significantly, with Finolex Industries seeing a seven-fold increase.
Despite the surge, both stocks remain 45% lower than their 52-week highs, as competition in the cables & wires (C&W) sector heats up. Adani Enterprises has entered the segment through a 50:50 joint venture, Praneetha Ecocables, with Praneetha Ventures. Meanwhile, Aditya Birla Group, through UltraTech Cement, has announced a ₹1,800 crore investment into the sector.
Market analysts believe that the entry of Adani and Birla Groups could impact the growth and margins of established players such as KEI, Polycab, RR Kabel, and Finolex Cables over the medium term.
Published on: March 24, 2025
Welspun Corporation shares surged 2.3% to an all-time high of ₹900 per share in early trade after the company completed a transaction with a strategic investor for a 74% equity stake in its subsidiary, Nauyaan Shipyard Private Limited (NSPL). The deal, worth ₹476.39 crore, includes ₹382.73 crore for equity and ₹93.66 crore towards dues.
Following the transaction, NSPL is no longer a subsidiary but an associate of Welspun. The company plans to utilize the surplus funds to reduce debt, with ₹1,000 crore scheduled for pre-payment by March 31, 2025. It has already pre-paid ₹725 crore as part of this initiative.
Welspun Corp, a global leader in steel pipes and tubes, is known for supplying critical infrastructure to the energy, oil, and gas sectors. The stock has gained 71% in the past year, significantly outperforming the Sensex's 6% rise.