Published on: March 24, 2025
The GSMA Board of Directors has elected Bharti Airtel’s Vice Chairman & MD, Gopal Vittal, as its new Chairman until the end of 2026. Vittal becomes only the second Indian to hold this prestigious position after Sunil Bharti Mittal.
As Chairman, Vittal will steer the strategic direction of GSMA, a global industry body representing over 1,000 companies in the mobile ecosystem, including handset manufacturers, software providers, internet companies, and telecom infrastructure firms. Vittal, who previously served as Deputy Chair and Acting Chair, expressed his commitment to driving innovation and shaping the mobile industry’s future.
Mats Granryd, Director General of GSMA, praised Vittal’s appointment, citing his expertise in AI, 5G, and emerging business models. With Vittal at the helm, GSMA aims to strengthen global mobile industry policies and drive technological advancements. A new Deputy Chair for the GSMA Board will be announced soon.
Published on: March 24, 2025
Shares of NCC Ltd. surged 4.8% in early trade on Monday, reaching an intraday high of ₹215.95 per share after the company received a ₹1,480.34 crore order for the redevelopment of Darbhanga Medical College & Hospital in Bihar. The contract, awarded by Bihar Medical Services & Infrastructure Corporation Limited, is to be completed within 42 months.
At 10:29 AM, NCC’s stock was trading 2.26% higher at ₹210.7 per share on the BSE, while the Sensex was up 0.92% at 77,609.43. The company’s market capitalization stood at ₹13,228.73 crore, with a 52-week high of ₹364.5 and a low of ₹169.95.
Adding to its recent successes, NCC also secured a ₹2,129.6 crore order from the Andhra Pradesh Capital Region Development Authority for infrastructure development in Amaravati. The contract includes constructing roads, drains, water supply, sewage systems, and utility ducts for power and ICT.
NCC Ltd., a key player in India’s construction and infrastructure sector, is known for executing large-scale projects in residential, commercial, industrial, and transportation infrastructure. Despite its recent project wins, NCC shares have declined 15% in the past year, underperforming the Sensex’s 6% gain.
Published on: March 24, 2025
Shares of Larsen & Toubro Ltd. (L&T) jumped nearly 3% on Monday after the company's board approved a ₹12,000-crore fundraising plan. The stock hit an intraday high of ₹3,517 on the National Stock Exchange (NSE), up 2.9% from the previous session’s close. The funds will be raised through various instruments, including external commercial borrowings, term loans, and non-convertible debentures, according to an exchange filing.
In addition, L&T announced the promotion of Subramanian Sarma to Deputy Managing Director & President, effective April 2, 2025, until February 3, 2028. The board also reappointed S. V. Desai and T. Madhava Das as whole-time directors for another five-year term starting July 11, 2025.
The infrastructure giant reported a consolidated net profit of ₹3,359 crore for the December 2024 quarter, marking a 14% year-on-year increase. Revenue from operations also saw a 17.3% rise, reaching ₹64,668 crore.
At 12:40 PM, L&T shares were trading 1.88% higher at ₹3,480 on the NSE, outperforming the Nifty 50’s 1.2% gain. Despite a 5% decline year-to-date, analysts remain optimistic, with 29 out of 35 rating it a ‘buy.’ The average 12-month target price suggests a potential upside of 16.9%.
Published on: March 24, 2025
Larsen & Toubro (L&T) shares surged over 2% in early trade on Monday after the company's Board of Directors approved a borrowing plan worth ₹12,000 crore. The stock jumped as much as 2.88% to ₹3,515.90 on the BSE following the announcement.
The board approved long-term borrowings through various instruments, including external commercial borrowings, term loans, and non-convertible debentures. Additionally, L&T announced key leadership changes, appointing Subramanian Sarma as Deputy Managing Director & President from April 2, 2025, to February 3, 2028. The board also reappointed S. V. Desai and T. Madhava Das as Whole-time Directors for new five-year terms.
L&T's stock has gained 7% in the past month but remains down 5% on a year-to-date basis. Despite short-term volatility, the company has delivered impressive long-term returns, rising over 390% in the past five years. As of 9:25 AM, L&T shares were trading 2% higher at ₹3,485.65 on the BSE.
Published on: March 24, 2025
On March 24, 2025, life in India appears normal—markets are bustling, roads are busy, and stadiums are packed for the new IPL season. But five years ago, on this very day, the nation faced an unprecedented shutdown.
At 8 pm on March 24, 2020, Prime Minister Narendra Modi announced a 21-day nationwide lockdown with just four hours' notice, aiming to curb the spread of Covid-19. The sudden shutdown led to widespread panic, as people rushed to stock up on essentials. Migrant workers, left jobless overnight, embarked on arduous journeys back to their villages, highlighting deep social and economic vulnerabilities.
Despite initial hopes, Covid-19 cases surged, with India's first major wave peaking in September 2020. The economy also suffered, with the Sensex crashing 38% in three months and industries coming to a standstill. However, resilience followed, as markets rebounded, healthcare infrastructure improved, and India learned to embrace digital solutions in public health management.
Five years on, the scars of the lockdown remain, but so do the lessons. While the world has moved forward, the memories of those uncertain days—empty streets, mass migrations, and a collective fight against an invisible enemy—remain etched in history.
Published on: March 24, 2025
IndusInd Bank witnessed a sharp 30% decline in March, making it one of the worst-performing stocks in the market due to financial concerns. Alongside IndusInd, major tech stocks like Infosys and Wipro fell between 3.8% and 5%, while Maruti, Bajaj Finserv, and Hero MotoCorp also struggled.
Market experts urge caution regarding IndusInd Bank, as uncertainty persists. Chakri Lokapriya, CIO - Equities at LGT Wealth, suggests looking at other banking stocks that offer better value. Vaishali Parekh, VP of Technical Research at Prabhudas Lilladher, noted that while the stock has rebounded from a key support level, it has yet to confirm an uptrend.
Given the current market conditions, analysts recommend that investors focus on stocks with stronger fundamentals and momentum. Until IndusInd stabilizes, waiting for clearer signals may be the best strategy.
Published on: March 24, 2025
Indian benchmark indices are poised for a higher opening on Monday, driven by global risk-on sentiment after reports suggested that US President Donald Trump's upcoming tariff measures may be more targeted than initially feared. The GIFT Nifty, an early indicator of the Nifty 50’s performance, was up 27 points (0.12%) at 23,505 as of 07:15 AM, signaling a positive start for domestic stocks.
Asian markets opened higher, mirroring Wall Street’s late rebound on Friday. Japan’s Nikkei gained 0.14%, while South Korea’s Kospi rose 0.4%. The US markets saw mild gains, with the Dow Jones, S&P 500, and Nasdaq rising by 0.08%, 0.08%, and 0.52%, respectively.
Back home, Nifty 50 surged 4.26% last week to 23,350.4, while Sensex jumped 4.17% to 76,905, marking their best weekly performance since February 2021. Investors will keep an eye on several key stocks today:
ONGC: Plans to import ethane from mid-2028 due to changes in LNG composition.
IndusInd Bank: Appointed Grant Thornton for a forensic review of accounting lapses.
Larsen & Toubro: Approved fundraising of ₹12,000 crore and appointed Subramanian Sarma as Deputy MD.
Power Grid Corp: Won key transmission projects under tariff-based competitive bidding.
Reliance Industries & Welspun Corp: RIL completed a ₹382.73 crore acquisition of 74% stake in Nauyaan Shipyard.
NCC: Secured a ₹1,480.34 crore order for the redevelopment of Darbhanga Medical College & Hospital.
Raymond: Invested ₹65 crore in a subsidiary for real estate expansion.
Godrej Properties: Acquired 10 acres in Bengaluru, with a revenue potential of ₹2,500 crore.
Ola Electric Mobility: Began deliveries of its S1 Gen 3 scooter portfolio across India.
Apollo Hospitals: Its subsidiary Apollo Healthco acquired an 11.2% stake in Keimed for ₹625.43 crore.
Additionally, shares of Transrail Lighting, DAM Capital Advisors, and other companies may see selling pressure as their IPO lock-in periods end today. Investors will also watch for domestic economic indicators and global market trends to assess further market direction.
Published on: March 24, 2025
Indian equity markets extended their winning streak for the sixth consecutive session, with Nifty 50 and Sensex reclaiming one-month highs and exiting the correction phase. The Nifty 50 decisively crossed the 23,500 mark, while Sensex surged over 1,000 points intraday. At 1:24 PM, the Sensex was up 1,022.61 points (1.33%) at 77,928.12, while Nifty gained 303.00 points (1.30%) to trade at 23,653.40.
Banking stocks led the rally, with Nifty Bank, Nifty Private Bank, and Nifty PSU Bank indices rising over 2% each. Kotak Mahindra Bank, Axis Bank, and SBI were among the top gainers, attracting investor interest due to attractive valuations. Broader markets also performed well, with the Nifty Midcap 100 and Nifty Smallcap 100 rising 1.3% and 1.2%, respectively.
Foreign portfolio investors (FPIs) returned to Indian equities, aiding the market’s rebound. Last week saw aggressive short covering by FIIs in index futures, further supporting the upward momentum. However, experts caution that uncertainty remains, as 68% of FII positions are still short.
Global sentiment also provided a boost, with Wall Street managing mild gains after U.S. President Donald Trump signaled flexibility on upcoming tariff measures. Despite the bullish momentum, analysts urge caution ahead of the April 2 reciprocal tariffs deadline, which could impact market stability in the near term.
Published on: March 24, 2025
Indian equity markets continued their winning streak on Monday, with Sensex and Nifty surging for the sixth consecutive session. At 12:30 PM, the Sensex was up 1,011.29 points (1.31%) at 77,916.80, while the Nifty gained 297.45 points (1.27%) to reach 23,647.85. Investor sentiment was bolstered by strong foreign inflows, banking sector strength, and positive global cues.
Foreign portfolio investors (FPIs) infused Rs 7,470.36 crore into Indian equities on Friday, reversing a months-long trend of outflows. The rupee also strengthened, appreciating 12 paise to 85.86 against the US dollar, supported by strong domestic inflows and a weakening dollar.
The banking sector played a crucial role in the rally, with Nifty Bank surging 1,000 points intraday to 51,635. Kotak Mahindra Bank, Canara Bank, and Punjab National Bank led the charge with gains of over 3%. Analysts suggest that Nifty Bank is nearing its all-time high of 54,500, with key resistance levels at 51,000 and 51,750.
Global markets provided additional support, as U.S. stock futures rose amid speculation over Trump’s potential tariff decisions. The S&P 500, Dow Jones, and Nasdaq all ended higher last week.
Despite the rally, analysts remain cautious about near-term resistance levels. Technical indicators suggest that while the Nifty remains bullish, a failure to sustain above the 23,450-23,500 zone could trigger a downside move toward 23,160. However, the overall market outlook remains optimistic, with expectations of continued FII buying and improving economic indicators.
Published on: March 24, 2025
After months of relentless selling, the Indian stock markets staged a strong recovery in March, with investors on the Bombay Stock Exchange (BSE) gaining Rs 35 lakh crore. Sensex surged over 4,500 points to approach 78,000, marking a 7.6% gain for the month. The rupee’s appreciation against the US dollar and reduced foreign selling contributed to the market’s turnaround.
Broader markets outperformed, with the Nifty Midcap index rising nearly 10% and the Nifty Smallcap index surging 12%. The Nifty Metal index led sectoral gains with a 13% jump, followed by Nifty Realty and Nifty Pharma, both up 10%. Banking stocks also performed well, with the Nifty PSU Bank index soaring 12% and Nifty Private Bank gaining 6.6%.
Despite the strong rally, experts warn of potential risks, citing continued foreign selling and uncertainty over reciprocal tariffs set to take effect in April. Analysts suggest that while the rebound signals improved sentiment, the market’s long-term direction will depend on sustained domestic consumption and corporate earnings resilience.
Published on: March 24, 2025
The NSE Nifty 50 and BSE Sensex continued their upward momentum for the sixth consecutive session, fueled by a strong rally in banking and realty stocks. Nifty 50 climbed 1.40% to a high of 23,677.90, while Sensex surged 1.43% to reach 78,005.26—both hitting their highest levels since February 7.
Banking stocks spearheaded the rally, with Kotak Mahindra Bank gaining over 5%, followed by advances in Axis Bank, State Bank of India, and ICICI Bank. Additionally, foreign portfolio investors (FPIs) turned net buyers, infusing Rs 7,470.36 crore into the market on Friday, signaling a potential shift in sentiment.
After months of correction, experts believe the market is finding stability, providing long-term investors with attractive valuations. Meanwhile, the Indian rupee also strengthened by 35 paise against the US dollar, reaching 85.62—its highest level since January 1.
Published on: March 21, 2025
Godrej Properties Ltd. announced on Friday that it has acquired 10 acres of land in Yelahanka, Bengaluru, with an estimated revenue potential of ₹2,500 crore. The real estate firm plans to develop a premium residential project along with high-street retail, covering approximately 15 lakh square feet of saleable area, as per its exchange filing on NSE.
🔹 Key Highlights:
✔️ Land Acquisition Details:
Seller: Indian Hume Pipe sold the land to Godrej Properties for ₹559 crore (as per a separate filing).
Location: Yelahanka, a prime residential hub with excellent connectivity via NH 44, metro, and railway stations.
Surroundings: Close to Puttenahalli Lake, educational institutions, and corporate offices.
✔️ Recent Sales Performance:
Godrej Evergreen Square (Pune):
Sold 1,398 homes since launch in November 2024.
Generated ₹1,000 crore in revenue.
✔️ Market Impact:
Godrej Properties shares closed 1.66% higher at ₹2,143.95, outperforming the 0.69% gain in the Nifty index.
The acquisition marks another milestone for Godrej Properties, further strengthening its premium residential footprint in Bengaluru. 🏡📈
Published on: March 21, 2025
Indian stock markets were trading lower on Friday, with the Nifty50 dropping 133.75 points to 22,779.4 and the Sensex declining 426.08 points to 75,309.88 by 11:02 AM. Mining stocks saw mixed movement, with select gainers but overall weakness in the sector.
🔹 Market Highlights:
✔️ Mining Sector Performance:
🔼 Top Gainers:
Lexus Granito (India) Ltd. ▲ 2.35%
20 Microns Ltd. ▲ 1.34%
The Orissa Minerals Development Co. ▲ 0.69%
🔽 Top Losers:
KIOCL Ltd. ▼ 2.49%
Sandur Manganese & Iron Ores Ltd. ▼ 0.76%
Ashapura Minechem Ltd. ▼ 0.73%
✔️ Nifty50 - Top Gainers:
Hindalco Industries Ltd. ▲ 1.59%
NTPC Ltd. ▲ 0.96%
Shriram Finance Ltd. ▲ 0.91%
✔️ Nifty50 - Top Losers:
Mahindra & Mahindra Ltd. ▼ 5.55%
UltraTech Cement Ltd. ▼ 2.46%
Bharat Petroleum Corporation Ltd. ▼ 2.21%
Market sentiment remained cautious as investors weighed global cues and sectoral performance, with weakness in auto, cement, and banking stocks dragging indices lower. 🚨📉
Published on: March 21, 2025
The Indian government has decided to let lapse its $23 billion Production-Linked Incentive (PLI) scheme, initially launched to boost domestic manufacturing and reduce reliance on China. The program, covering 14 key sectors, will not be expanded or extended beyond its initial timelines, according to senior government officials.
🔹 Key Highlights:
✔️ Underperformance & Payment Delays:
Only 37% of the targeted production value ($151.93 billion) was achieved as of October 2024.
Government disbursed only 8% of the allocated funds ($1.73 billion) due to bureaucratic hurdles.
✔️ Success in Select Sectors:
Mobile phone & pharmaceutical industries performed well, receiving 94% of total PLI disbursements.
India produced $49 billion worth of mobiles in 2023-24, a 63% jump from 2020-21.
Pharma exports nearly doubled to $27.85 billion over the past decade.
✔️ Failures in Other Sectors:
Steel, textiles, and solar panel manufacturing struggled due to global competition and investment shortfalls.
8 out of 12 solar firms (including Reliance & Adani) are unlikely to meet targets.
14 out of 58 steel projects have already been withdrawn or removed due to lack of progress.
✔️ Future Plans:
The government is exploring new investment reimbursement models to support select sectors.
Trade concerns rise as former U.S. President Donald Trump’s stance on trade protectionism could further challenge India's export-driven growth.
🔹 Expert Take:
Trade expert Biswajit Dhar warns that India "may have missed its moment" to revive manufacturing, calling the PLI scheme "possibly the last chance" to make India a global manufacturing hub.
The government's move signals a shift in strategy as it rethinks industrial policy to attract foreign investment while addressing structural inefficiencies. 🚀
Published on: March 21, 2025
Larsen & Toubro (L&T) shares surged 3% to ₹3,455 on March 21 following the announcement of a significant contract win worth ₹2,500 crore - ₹5,000 crore from Brigade Group. This contract, involving the construction of luxury high-rise residential and commercial towers in Hyderabad and Chennai, marks L&T’s largest private residential project to date, boosting investor confidence.
🔹 Major Project Wins:
✔️ Hyderabad: L&T to construct Brigade Gateway Residences (57 floors) and Brigade World Trade Centre (50 floors) in Kokapet, set to be the city’s tallest mixed-use development.
✔️ Chennai: The contract includes Brigade Altius (39-floor towers) and Brigade Morgan Heights (11-21 story luxury towers), reinforcing L&T’s presence in the high-end real estate market.
✔️ All projects will be executed on a design-and-build basis under strict timelines.
🔹 International Expansion:
✔️ Last week, L&T’s Water & Effluent Treatment (WET) division, in partnership with Spain’s Lantania, won a ₹5,000 crore contract from ACWA Power to build Saudi Arabia’s Ras Mohaisen Desalination Plant.
✔️ The plant will use seawater reverse osmosis technology to produce 300,000 cubic meters of water per day.
🔹 Financial Performance:
✔️ Q3 FY25 Net Profit: ₹3,359 crore (+14% YoY) vs ₹2,947 crore last year.
✔️ Revenue: ₹64,668 crore (+17% YoY).
✔️ EBITDA Margins: Declined 70 bps to 9.7% due to rising raw material costs (+50%) and construction material expenses (+16%).
🔹 Market Impact:
✔️ L&T’s stock closed at ₹3,415 on NSE, up 1.91%.
✔️ The stock has gained over 7% this week, riding on strong contract wins and growth momentum.
Despite slight margin contraction, L&T’s aggressive expansion, strong order book, and demand for high-rise infrastructure continue to drive investor optimism. 🚀