Published on: March 19, 2025
IndusInd Bank shares surged nearly 3% on March 19 after Ashok P Hinduja, Chairman of IndusInd International Holdings Ltd (IIHL), stated that it is an "opportune time" to increase the promoter stake in the bank. The stock hit an intraday high of ₹700.8 on the NSE before paring gains to trade at ₹694.5, up 1.92% around 11:20 AM.
IIHL recently completed the acquisition of Reliance Capital and has received in-principle approval from the Reserve Bank of India (RBI) to increase its stake in IndusInd Bank from 15% to 26%. The company is now awaiting final regulatory approval.
Despite the positive momentum, concerns remain as IndusInd Bank recently disclosed discrepancies in its derivatives portfolio, which could impact 2.35% of its net worth as of December 2024.
Published on: March 19, 2025
Indian stock markets opened on a positive note on Wednesday, supported by firm trends in Asian equities and renewed foreign fund inflows. The Sensex climbed 172.43 points to 75,473.69 in early trade, while the Nifty gained 54 points to reach 22,888.30.
However, selling pressure in blue-chip IT stocks led to volatility in the indices, tempering early gains. Investors remain cautious ahead of key global economic developments, including the US Federal Reserve’s policy decision.
Published on: March 19, 2025
Banking stocks extended their winning streak for the fifth consecutive session on March 19, pushing the Bank Nifty up by 1% to around 49,700. The recent rebound has gained traction, helping the index recover a portion of the sharp losses witnessed since December 2024. Chartists and analysts remain optimistic about further upside.
Axis Securities provided a bullish outlook, highlighting 49,115 as the key trend-deciding level. A move above this could push Bank Nifty towards 49,600-50,371, while a dip below may trigger profit booking, leading to corrections down to 48,058. Meanwhile, Angel One noted that the Bank Nifty convincingly broke past its critical 48,800-48,900 resistance zone, firmly shifting momentum in favor of the bulls.
AU Small Finance Bank led the gains, surging nearly 4% after hitting a 52-week low on March 18. Federal Bank and Punjab National Bank rose around 2% each, while IndusInd Bank climbed 1.8%, supported by assurances from IndusInd International Holdings regarding capital infusion.
Other notable gainers included Canara Bank, Bank of Baroda, SBI, and Axis Bank, which gained over 1% each. HDFC Bank, ICICI Bank, and Kotak Mahindra Bank also traded higher, reinforcing the sector's strong bullish sentiment.
Published on: March 19, 2025
Indian stock market benchmarks, the Sensex and Nifty 50, closed in the green for the third consecutive session on March 19, led by gains in heavyweights like HDFC Bank and Reliance Industries. The Sensex rose 148 points to 75,449.05, while the Nifty 50 reclaimed 22,900, ending at 22,907.60, up 73 points.
Despite modest gains in benchmark indices, the broader market witnessed a strong rally, with the BSE Midcap index surging 2.28% and the Smallcap index rising 2.17%. The market capitalization of BSE-listed firms jumped by nearly ₹5 lakh crore to ₹405 lakh crore.
Sectorally, Nifty Realty, PSU Bank, Metal, and Media indices recorded healthy gains, while Nifty IT and FMCG ended lower. Shriram Finance, HDFC Life, and Apollo Hospitals led the Nifty gainers, while Tech Mahindra, ITC, and TCS were the top laggards.
Experts suggest that while the market trend remains positive, it could consolidate in the short term due to overbought conditions. Key support for Nifty is seen at 22,600, while resistance lies at 23,100-23,150. Investors are now closely watching the US Federal Reserve’s policy decision and Jerome Powell’s commentary for further cues.
Published on: March 19, 2025
Indian stock markets extended their strong upward momentum, with Bank Nifty surging past 49,000 and breaching its crucial 50-EMA at 49,200, reinforcing a bullish bias. The Nifty closed above 22,800 after a sharp rally, driven by massive short-covering from foreign investors.
All sectoral indices ended with gains, with Nifty Auto, Bank, PSU Bank, FMCG, and Metal rising 1.5–2 percent each. The broader market outperformed, with mid and smallcap indices gaining 2.2 percent and 2.71 percent, respectively.
Key domestic indicators such as GDP growth rebounding to 6.2 percent, IIP rising by 5.1 percent, a jump in tax collections, and easing inflation provided a favorable macroeconomic backdrop. However, global risks, including tariff wars, may limit sustained gains.
Technical indicators suggest Nifty's next resistance at 23,000, with potential targets of 23,800–24,200. Bank Nifty is expected to trade within 48,900–50,000. The Put-Call Ratio (PCR) rising to 1.29 and India VIX dropping to 13.21 indicate strong bullish sentiment ahead of the Federal Reserve's policy decision.
Published on: March 18, 2025
Ola Electric Mobility Ltd's shares surged 16% on March 18, 2025, after hitting an all-time low of ₹46.32 on the BSE earlier in the day. The stock recovered to a high of ₹54.35, marking a 17.33% jump from its intraday low. This sudden rebound came despite ongoing legal and operational challenges for the company.
The recovery follows news that Rosmerta Digital Services, an operational creditor of Ola Electric Technologies, has approached the National Company Law Tribunal (NCLT) Bengaluru Bench, alleging payment defaults by the subsidiary. Ola Electric has disputed the claims and stated it is seeking legal advice to challenge the petition and protect its interests.
In addition to legal troubles, the company has faced multiple business challenges, including:
✔Slower-than-expected EV two-wheeler growth
✔Market share loss in the segment
✔Delayed motorcycle launch due to homologation issues
✔Profitability pressures from increased warranty costs
Brokerages Lower Expectations for Ola Electric
Given these hurdles, Kotak Institutional Equities downgraded Ola Electric’s fair value estimate to ₹50, a 23% cut from its earlier target of ₹65. Kotak expects profitability to improve due to cost-cutting efforts, but warns that sales volumes may miss market expectations. The brokerage emphasized that Ola's upcoming motorcycle launch is a critical factor for long-term brand equity and market share.
Market Trends and Competitive Landscape
Despite industry-wide challenges, Ola Electric gained the highest market share in February, followed by Bajaj Auto and Hero MotoCorp. However, the electric two-wheeler industry’s growth forecast has been revised downwards, with Kotak now expecting a 31% CAGR for FY2024-27, compared to its earlier 40% estimate.
To boost sales, Ola Electric announced discounts of up to ₹26,750 on its S1 Air and S1 X+ models and ₹25,000 on its latest S1 Gen 3 range. The company is also focused on improving financial performance, aiming to achieve EBITDA breakeven by Q1 FY2026, supported by:
✔₹90 crore per month in cost reductions
✔Lower service and warranty costs (₹32 crore savings)
✔Headcount optimization (₹29 crore savings)
✔Network transformation (₹25 crore savings)
Looking Ahead
Analysts believe Ola Electric may pass on cost-saving benefits to consumers to drive higher sales and gain market share. However, with slower EV adoption and increasing competition from legacy players, the company's ability to execute its strategy effectively remains crucial for long-term investor confidence.
Published on: March 18, 2025
Tata Motors' share price rose 1.94% on March 18, 2025, reaching ₹674.75 per share, after the company announced a 2% price hike on its commercial vehicles, effective April 1, 2025. The company stated that the adjustment was necessary to offset rising input costs and will vary across different models and variants.
The announcement follows a similar move by Maruti Suzuki, which recently declared a 4% price hike from April due to rising operational and input expenses. The automotive industry continues to grapple with global supply chain disruptions and increasing commodity prices, leading manufacturers to revise their pricing strategies.
HSBC Upgrades Tata Motors to ‘Buy’
In a separate development, HSBC upgraded Tata Motors’ stock rating to ‘Buy’, adjusting its target price to ₹840 from ₹930. The brokerage cited several factors contributing to Tata Motors’ potential re-rating:
✔Jaguar Land Rover (JLR) Profitability: Reduced discounts and warranty expenses at JLR are expected to improve margins and enhance pricing power.
✔Q4 Performance as a Catalyst: If JLR meets its Q4 targets, it could boost investor confidence in Tata Motors.
✔Domestic Market Recovery: Sales of Small Commercial Vehicles (SCVs) are rising, indicating strong demand in logistics and transportation.
✔New Passenger Vehicle Launches: Tata Motors is planning new model introductions, which are expected to strengthen its market position in India.
Stock Performance and Tesla's Impact
Despite the positive developments, Tata Motors' stock has faced sustained pressure due to concerns over Tesla’s entry into India. Over the past month, Tata Motors' stock has declined 4%, while over the last six months (since September 2024), shares have dropped by 32.3%. However, analysts believe the recent correction presents a strong buying opportunity, given the company’s long-term growth prospects in both domestic and international markets.
Published on: March 18, 2025
Billionaire Mukesh Ambani's Reliance Industries Ltd (RIL) is estimated to have earned €724 million (approx. ₹6,850 crore) in a year by exporting fuel refined from Russian crude to the United States, according to a report by the Centre for Research on Energy and Clean Air (CREA).
Between January 2024 and January 2025, the US imported €2.8 billion worth of refined oil from six refineries in India and Turkey, with an estimated €1.3 billion of it derived from Russian crude.
Key Findings from the Report:
>The US imported €2 billion worth of fuel from Reliance's Jamnagar refinery, of which €724 million is estimated to have originated from Russian crude.
>Exports from Vadinar (Nayara Energy) to the US totaled €184 million, with €124 million linked to Russian crude.
>MRPL’s New Mangalore refinery exported €42 million worth of fuel to the US, with €22 million linked to Russian crude.
>Turkey’s three refineries exported €616 million of fuel to the US, with €545 million refined from Russian crude.
Geopolitical Implications:
CREA estimates that Russia earned $750 million in taxes from these fuel exports. While Western sanctions do not directly prohibit the purchase of Russian crude, the US, G7, and EU have implemented a $60 per barrel price cap to curb Moscow's revenue while maintaining global oil supply. However, both Europe and the US continue to import refined fuel from India and Turkey, indirectly sustaining Russia’s fossil fuel earnings.
An e-mail sent to Reliance for comments remained unanswered.
Published on: March 18, 2025
Shares of Coffee Day Enterprises Ltd. (CDEL) surged 5% on March 18, 2025, locking in the upper circuit at ₹24.54 per share, after the company announced the settlement of its outstanding debt of ₹205 crore.
In an official statement, Coffee Day Enterprises disclosed that it has negotiated and agreed to settle the dues of two debenture holders through a three-tranche payment plan. This includes the proceeds from the sale of a 12.41% stake in Coffee Day Global Ltd. for ₹55 crore to a third party.
The company emphasized that this settlement aligns with its commitment to debt reduction, safeguarding the interests of its stakeholders while focusing on long-term value creation. The Audit Committee and Board Members approved the draft settlement agreement on March 17, 2025.
About Coffee Day Enterprises
Founded in 1996, Coffee Day Enterprises Ltd. operates across multiple industries, including coffee retail, logistics, hospitality, financial services, and corporate investments. It is best known for its Café Coffee Day (CCD) brand, which runs:
>469 cafés across 154 cities
>268 CCD Value Express kiosks
> 48,788 vending machines in corporate offices and hotels
In hospitality, CDEL owns three luxury boutique resorts under the brand ‘The Serai’, with properties in Karnataka and the Andaman & Nicobar Islands.
Stock Market Performance
At 10:04 AM, Coffee Day Enterprises shares remained locked at ₹24.54, reflecting a 5% upper circuit, while the BSE Sensex traded 0.76% higher at 74,736.68. CDEL's market capitalization currently stands at ₹518.41 crore, as per BSE data.
Published on: March 18, 2025
Shares of Unicommerce eSolutions rallied over 6.5% on March 18, 2025, after the company announced plans to discuss the issuance of securities in its upcoming board meeting on March 20. The stock surged 6.7% intraday to a high of ₹117.6 per share, marking its biggest intraday gain since March 6, before trading 6.13% higher at ₹116.9 apiece at 10:00 AM. This outperformed the 0.88% rise in the Nifty 50 index.
Despite this recent uptrend, Unicommerce’s stock has declined 20% year-to-date and remains 50% below its listing price since its IPO in August 2024. The company currently has a market capitalization of ₹1,195.9 crore.
Planned Securities Issuance
In an exchange filing on March 17, Unicommerce stated that its board will review transactions related to securities issuance. The options under consideration include:
>Issuance of equity shares or other securities
>Preferential issue
>Qualified institutional placement (QIP)
>Other permissible methods
The company also mentioned that shareholder approval will be sought through necessary procedures.
Unicommerce’s Business Overview
Unicommerce eSolutions is a SaaS-based e-commerce enablement platform that facilitates end-to-end e-commerce operations for brands, retailers, and logistics providers. As of Q2 2025, the company serves 3,600 clients, including D2C brands, e-commerce firms, and logistics providers.
With 260 technology integrations, Unicommerce handles an annual transaction run rate of 850 million orders, managing 8,800 warehouses and 3,150 omni-enabled stores globally.
Additionally, Shipway by Unicommerce, the company’s logistics automation arm, provides automated shipping solutions for 6,500+ online brands, enhancing fulfillment efficiency.
Stock Outlook
With an anticipated securities issuance and strong business growth, investors are closely watching Unicommerce’s March 20 board meeting, which could influence the stock’s future trajectory.
Published on: March 18, 2025
Shares of Vedanta Ltd. surged 3% on March 18, 2025, reaching an intraday high of ₹460.85 on the BSE. The rally came after Chairman Anil Agarwal expressed confidence in the growth potential of Vedanta’s newly demerged entities, stating that each has the capability to become a $100 billion company.
In a letter to shareholders, Agarwal emphasized that the world is shifting towards pure-play businesses, and the demerger will enable these new companies to unlock value, reduce debt, and achieve significant growth. He noted that Vedanta currently contributes 1.4% of India’s GDP, and the creation of four new natural resource-focused entities will help realize the sector’s full potential.
Vedanta Demerger & Shareholder Benefits
In February 2025, an overwhelming 99.5% of shareholders and creditors approved Vedanta’s demerger plan. Post-demerger, all existing Vedanta shareholders—both retail and institutional—will receive one new share in each of the newly created companies. The restructuring aims to simplify Vedanta’s corporate structure, improve operational efficiency, and drive sectoral growth.
Vedanta's Strong Market Performance
Agarwal also highlighted Vedanta’s history of delivering strong returns, stating that an investment in the company five years ago would have multiplied by 4.7 times, factoring in capital appreciation and dividends.
Vedanta’s stock has been a standout performer, surging 68.6% in the past year, pushing its market capitalization to ₹1.78 lakh crore. Despite ongoing market volatility in 2025, the stock has gained 3% year-to-date (YTD), outperforming the BSE Sensex, which has declined over 4% in the same period.
Outlook for Vedanta’s Demerged Entities
Agarwal reiterated that demand for critical minerals and transition metals is growing at a double-digit rate globally, positioning Vedanta’s demerged entities for long-term expansion. The restructuring is expected to create value for investors and strengthen India's resource sector in the coming years.
Published on: March 18, 2025
Shares of NMDC Ltd., India's largest iron ore producer, surged 3% on March 18, 2025, hitting an intraday high of ₹66.84 on the National Stock Exchange (NSE). The rally was fueled by the company's announcement of a ₹2.30 per share interim dividend for the financial year 2024-25.
Interim Dividend & Record Date
In an exchange filing, NMDC stated that its Board of Directors approved the interim dividend on March 17, 2025. The record date to determine shareholder eligibility is set for March 21, 2025.
NMDC’s Dividend Track Record
NMDC has a consistent history of rewarding shareholders with dividends. In 2024, the company declared a ₹1.50 per share dividend and an interim dividend of ₹5.75 per share. In 2023, it paid a ₹2.85 per share dividend and an interim dividend of ₹3.75 per share. The current dividend yield stands at 3.65%.
Stock Performance & Market Sentiment
Despite the recent uptrend, NMDC shares have declined 6% in the last six months and 2% over the past year. Year-to-date, the stock has gained nearly 1%, outperforming the Nifty50, which has declined 4% during the same period. NMDC’s 52-week range is ₹95.45 - ₹59.70 on the NSE.
As of 10:43 AM, NMDC shares were trading at ₹66.28, up 2.11% from the previous close of ₹64.91. Nearly 16.26 million shares worth ₹107.62 crore changed hands on the NSE and BSE combined.
Meanwhile, the broader market remained strong, with the BSE Sensex rising 891 points (1.20%) to 75,060, and the NSE Nifty50 up 261 points (1.16%) to 22,770.
About NMDC
NMDC (National Mineral Development Corporation) is a Navratna PSU under the Ministry of Steel, Govt. of India. Established in 1958, the company is India’s largest iron ore producer, operating mines in Chhattisgarh and Karnataka and a diamond mine in Madhya Pradesh. Most of its production caters to the domestic steel industry.
As of March 18, 2025, NMDC holds a market capitalization of ₹58,342.50 crore and is a part of the Nifty Midcap50 index.
Published on: March 18, 2025
Shares of Ircon International Ltd. jumped nearly 9% on Tuesday after the company secured a ₹1,096 crore contract from the Meghalaya government. The project involves constructing a new secretariat complex in Shillong, including campus infrastructure on an EPC (Engineering, Procurement, and Construction) basis. The project is expected to be completed within three years, as per an exchange filing released on Monday.
The contract was awarded to a joint venture between Ircon (holding 26%) and Badri Rai & Co. (holding 74%).
Q3 Performance: Profit Decline Amid Revenue Drop
Despite the stock rally, Ircon's financial performance for Q3 was weak, with a 64.89% drop in net profit to ₹86 crore, compared to ₹245 crore in the same quarter last year. Revenue fell 10.83% YoY to ₹2,612 crore, while EBITDA declined 49.05% to ₹131.5 crore, leading to a margin contraction from 8.81% to 5.03%. The company also declared an interim dividend of ₹1.65 per share.
Stock Performance & Analyst Views
Following the announcement, Ircon shares surged as much as 8.85% to ₹150.40, hitting their highest level since March 10, before settling 7.60% higher at ₹148.67 at 9:27 a.m.. This compares to a 0.61% rise in the NSE Nifty 50.
However, the stock has declined 31.36% over the past 12 months and 31.80% year-to-date. Analysts remain cautious, with one recommending a 'hold' and two suggesting a 'sell', according to Bloomberg data. The average 12-month price target implies a modest upside of 2.1%.
Published on: March 18, 2025
Tech Mahindra announced an expanded long-term partnership with Google Cloud on Tuesday to accelerate the adoption of Artificial Intelligence (AI) for enterprises worldwide. The collaboration will focus on modernizing enterprise infrastructure and data architecture, optimizing ROI from AI-powered cloud solutions.
The partnership will leverage Tech Mahindra’s domain expertise and Google Cloud’s advanced AI capabilities, including its Gemini models, AI development platform, and agentic AI technology, to develop tailored industry solutions. These AI-driven solutions will cater to key sectors such as communications, healthcare, life sciences, manufacturing, automotive, retail, and financial services.
Tech Mahindra's Chief Operating Officer, Atul Soneja, emphasized that the collaboration will help businesses navigate operational complexities, enhance efficiency, and unlock new growth opportunities, all while ensuring compliance with evolving regulatory standards.
Investments in AI Talent and Global Delivery Centers
To strengthen its Google Cloud-centric solutions, Tech Mahindra has made significant investments in talent upskilling and advanced delivery capabilities. It has also established dedicated delivery centers in Mexico, reinforcing its global footprint.
As a premier systems integrator Google Cloud Partner, Tech Mahindra boasts 2,000+ certified professionals and 10,000+ trained engineers working across 75+ AI programs globally.
Google Cloud’s Perspective
Kevin Ichhpurani, President of Global Partner Ecosystem & Channels at Google Cloud, highlighted that the expanded partnership will enable enterprises to build and deploy AI agents seamlessly, leveraging Google Cloud’s leading AI development platform.
Stock Performance
Following the announcement, Tech Mahindra’s shares were trading 0.01% higher at ₹1,439.85 on the BSE in early trade on Tuesday.
Published on: March 18, 2025
Citi has reduced its target price for Tata Consultancy Services (TCS) to ₹3,205 from ₹3,900, citing exchange rate adjustments and operational factors affecting financial projections for FY25-FY27. The brokerage firm has also lowered its valuation multiple from 28x to 22x for September 2026 earnings, reflecting ongoing macroeconomic uncertainty that could hamper near-term growth.
Citi expects TCS’ earnings to grow at an annual rate of just 5% over FY24-26, significantly lower than historical trends. The firm maintained its ‘sell’ rating, citing broader challenges in the IT sector, including demand weakness, currency fluctuations, and geopolitical risks.
IT Sector Under Pressure
The downgrade comes as the Nifty IT index remains in bear market territory, having corrected 20.51% since December 13, 2024, amid fears of tariffs, a US economic slowdown, inflation concerns, Fed rate cut uncertainty, delayed IT spending by US clients, and increased competition for large deals. In comparison, the Nifty 50 has declined only 8.08% during the same period.
Morgan Stanley had also issued a bearish outlook earlier this month, warning of further downside for Indian IT services revenue growth and valuations.
TCS Stock Performance and Market Sentiment
Despite Citi’s downgrade, TCS shares rose 1.61% to ₹3,554 on Tuesday, reaching their highest level since March 12, before paring gains to trade 1.24% higher at ₹3,541.15 as of 11:45 AM. The stock has declined 14.72% in the past year and 13.89% year-to-date.
Trading volumes were 1.8 times the 30-day average, and the Relative Strength Index (RSI) stood at 33, indicating the stock is nearing oversold levels.
Analyst Consensus:
According to Bloomberg data, out of 48 analysts tracking TCS:
>33 have a ‘buy’ rating
>10 recommend ‘hold’
>5 suggest ‘sell’
The average 12-month analyst consensus price target implies a 23.9% upside from current levels, suggesting long-term optimism despite short-term headwinds.