Published on: March 13, 2025
Shares of Oil India Limited (OIL) surged 4% to ₹382 on March 13 after the government approved the Oilfield Amendment Bill, 2024, a long-awaited reform in India’s petroleum regulations. The bill aims to modernize outdated oilfield laws from 1948, introduce a separate ‘petroleum lease’, and expand the definition of hydrocarbons to encourage fresh exploration. The legislation also proposes new dispute resolution mechanisms, including arbitration outside India if necessary.
Petroleum Minister Hardeep Singh Puri emphasized that the bill would improve ease of doing business, attract investment, and unlock India’s hydrocarbon reserves, without favoring public or private players. Following the announcement, other oil and gas exploration stocks like ONGC and RIL also saw an uptick.
Despite the short-term boost, Oil India shares remain 12% lower year-to-date and are currently trading 51% below their all-time high of ₹768. The company, India’s second-largest oil and gas PSU, closed at ₹375 on NSE, up 2.37% from the previous close of ₹367. Market analysts view the regulatory overhaul as a positive long-term catalyst for the energy sector.
Published on: March 13, 2025
The Securities and Exchange Board of India (Sebi) has widened the scope of Unpublished Price Sensitive Information (UPSI) by including fundraising activities, management-impacting agreements, corporate restructuring, and one-time bank settlements under its purview. The move aims to bring greater regulatory clarity, certainty, and uniformity in compliance across listed companies.
According to Sebi’s notification on March 11, the amended insider trading regulations will come into effect from June 10, 2025. Key additions to UPSI now include:
>Proposed fundraising activities and credit rating changes (excluding ESG ratings)
>Corporate insolvency proceedings, including resolution plans and loan restructuring
>Fraud, defaults, or arrests of promoters, directors, or key managerial personnel (KMPs)
>Forensic audits related to financial misstatements, misappropriation, or fund diversion
>Regulatory actions or judicial orders against the company or its leadership, in India or abroad
>Granting, suspension, or cancellation of critical licenses and approvals
Sebi has also introduced flexibility for companies to record external UPSI in structured digital databases within two days and has removed the mandatory trading window closure for such UPSI.
With this amendment, the number of events classified as UPSI has increased from five to 16, said Makarand M Joshi, Founder Partner at MMJC and Associates. He noted that this move is expected to reduce litigation on UPSI-related cases and limit successful appeals challenging UPSI identification.
Published on: March 13, 2025
Polycab India, a leading cables and wires manufacturer, has bagged a ₹3,002.99 crore order from Bharat Sanchar Nigam Limited (BSNL) under the BharatNet initiative in Bihar Telecom Circle (Package No. 7). The company announced the development in an exchange filing on March 13.
As the Project Implementation Agency (PIA), Polycab will be responsible for the design, supply, construction, installation, upgradation, operation, and maintenance of the middle-mile network. The project will involve a three-year construction phase followed by a 10-year maintenance contract.
The total project cost includes a capital expenditure (capex) of ₹1,549.66 crore and operating expenses (opex) of ₹929.79 crore for the new network, with ₹523.53 crore allocated for the existing network. The maintenance cost is structured at 5.5% per annum of capex for the first five years and 6.5% per annum for the next five years.
Following the announcement, Polycab shares rose over 0.70% in early trade. The stock had previously dipped in February after Ultratech announced plans to enter the cables and wires segment but has since recovered, with marginally negative returns over the past month.
Published on: March 13, 2025
State Bank of India (SBI) is setting up a dedicated unit to finance new-age industries, including artificial intelligence, e-commerce, and fintech, as part of its efforts to expand project financing solutions. According to Ashwini Kumar Tewari, Managing Director at SBI, the unit will be operational within a year and will be staffed with specialized professionals. The bank is also in the process of appointing an external consultant for the project.
Currently, SBI’s Project Finance and Structuring Unit primarily funds large infrastructure projects. However, lending to emerging industries and renewable energy is becoming a significant part of its financing portfolio. With Prime Minister Narendra Modi’s focus on infrastructure development, these sectors are expected to see a surge in investments.
In FY 2024, SBI financed 48 large projects through its project finance division, as per its annual report. The new unit, called the “Center of Excellence for Project Financing,” will also provide insights and expertise to other financial institutions, helping shape the future of project financing in India.
Published on: March 13, 2025
State Bank of India (SBI) Chairman Challa Sreenivasulu Setty emphasized the need for India to achieve 8% GDP growth to sustain progress, highlighting the importance of private capital expenditure and rising consumption. In an interview with The Indian Express, Setty noted that while the current 6% growth rate is not a major concern, stronger investment in core sectors like steel and cement is essential as their capacity utilization has reached 75-76%.
He pointed out that private consumption is rebounding, with Private Final Consumption Expenditure (PFCE) reaching 7.6%, indicating positive momentum. However, the auto sector, which saw strong growth in October-November 2024, has slowed down since December. Rural consumption remains stable, but post-rabi harvest trends will provide more clarity.
Setty acknowledged that global trade uncertainties and tariff concerns have made businesses cautious about investing. However, he reassured that India’s export basket is well-diversified, reducing risks from external trade disruptions. He also highlighted SBI’s ₹4 lakh crore corporate lending pipeline, with half already sanctioned and the rest under discussion, suggesting strong investment potential across diverse sectors.
Despite short-term concerns, Setty reaffirmed confidence in India’s long-term growth trajectory, supported by increasing consumption and a favorable economic landscape. The RBI has projected a 6.7% GDP growth for FY 2025-26, signaling steady economic expansion.
Published on: March 13, 2025
Indian stock markets ended the truncated trading week on a negative note, with the Sensex falling 200.85 points (0.27%) to 73,828.91 and the Nifty slipping 73.30 points (0.33%) to 22,397.20 on Thursday. Weakness in automobile and IT stocks dragged the benchmarks lower, even as domestic and US inflation data came in softer than expected.
The Indian stock market will remain closed on Friday for Holi.
Despite an optimistic start, markets turned negative as global trade uncertainties, driven by escalating tariff tensions, overshadowed positive economic data. Analysts noted that under normal circumstances, the softer inflation data would have supported a rally, but external risks have kept investors cautious.
Sector-wise, 12 out of 13 major indices ended in the red. The Nifty Media and Nifty Realty indices dropped nearly 2%, while Nifty Auto and Nifty IT fell over 1%. The Nifty IT index has now entered bear market territory, plunging over 21% from its peak, with major players like Wipro, TCS, Infosys, and HCLTech trading lower.
Among top movers, SBI, ICICI Bank, and Bharat Electronics gained, while Shriram Finance, Bajaj Auto, and Tata Motors saw declines. Adani Green Energy surged over 2% after Macquarie initiated coverage with an ‘outperform’ rating and a price target of ₹1,200, implying a 40% upside. MTNL shares rallied over 12% after the government revealed it had earned ₹2,134.61 crore from asset monetization.
On the technical front, analysts highlighted a symmetrical triangle pattern on Nifty’s hourly chart, signaling a potential breakout. A move above 22,550 could trigger a rally, while a drop below 22,350 may dampen sentiment.
Published on: March 13, 2025
Aster DM Healthcare Ltd. has received in-principle approval from both the National Stock Exchange (NSE) and BSE to issue shares on a preferential basis for consideration other than cash. The company plans to issue 1.86 crore shares, with a face value of ₹10 each, at a minimum price of ₹456.33 per share to non-promoters as part of a share swap agreement, according to an exchange filing.
The proposed preferential issue is now subject to approval from the Competition Commission of India (CCI). The stock exchanges have advised Aster DM Healthcare to closely monitor trading activity before the allotment to ensure compliance with capital market regulations.
Following the announcement, Aster DM Healthcare’s share price rose 1.30% to ₹437.35, trading 0.47% higher at ₹433.80 as of 2:22 p.m., while the NSE Nifty 50 declined 0.26%. Over the past year, the stock has gained 5%. Analysts remain optimistic, with nine experts maintaining a ‘buy’ rating. Bloomberg data suggests a 12-month consensus price target implying a potential 35.8% upside.
Published on: March 13, 2025
Shares of PB Fintech, the parent company of PolicyBazaar, continued their downward trajectory for the second consecutive day, falling 6% to ₹1,322 in intraday trade on the BSE on Thursday. The stock hit an eight-month low and has declined 10% over the past two sessions following the company's announcement to invest ₹696 crore in its subsidiary, PB Healthcare Services, in FY 2025-26.
The proposed investment, subject to shareholder approval, would increase PB Fintech's stake in the subsidiary to 33.63% and aims to strengthen its financial health, support operational expenses, expand brand awareness, and enhance strategic initiatives.
Despite strong revenue growth in its core insurance business in Q3FY25, the company faces broader market challenges. The life insurance sector saw a 6% Y-o-Y decline in annualized premium equivalent (APE) in February 2025, largely due to a sharp drop in LIC’s sales. Meanwhile, private players reported modest 5% growth. Analysts at Elara Securities India noted a slowdown in demand for ULIP products, which may persist in the coming quarters.
PB Fintech stock has now corrected 41% from its 52-week high of ₹2,254.95 recorded on January 1, 2025. Despite this recent decline, it had outperformed broader markets in 2024 with a 165% surge, compared to an 8% rise in the BSE Sensex and a 26% gain in the BSE Midcap index.
Published on: March 13, 2025
Indian benchmark indices started on a positive note on March 13, tracking upbeat global cues and easing inflation in the U.S. and India. However, early optimism faded as selling pressure in IT and auto stocks dragged the markets lower. By mid-day, the Sensex was down 45.96 points (0.06%) at 73,983.80, while the Nifty declined 31.10 points (0.14%) to 22,439.40. Market breadth remained weak, with 1,546 stocks advancing, 1,853 declining, and 125 unchanged.
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, highlighted that while favorable inflation data could have supported a rally under normal circumstances, global trade tensions—worsened by Trump’s tariff threats—continue to weigh on investor sentiment. He advised investors to focus on domestic consumption themes amid ongoing uncertainties.
The Nifty IT index officially entered bear market territory, having plunged over 21% from its peak. Stocks like Wipro, TCS, Infosys, HCLTech, and Tech Mahindra extended losses, with large-cap IT stocks expected to face further downside, according to Nilesh Shah of Envision Capital.
Sectoral indices showed mixed trends:
>Nifty IT, Media, Metal, Realty, and Auto declined by up to 1%.
>Nifty Bank, FMCG, Energy, and PSU Bank managed to gain up to 0.7%.
>Midcaps fell 0.1%, while smallcaps slid 0.5%, facing intense selling pressure.
Top Gainers & Losers:
>Gainers: ONGC, SBI, Bharat Electronics
>Losers: Shriram Finance, Hindalco, Tata Motors
Stock Highlights:
>Gensol Engineering shares tumbled 5% after announcing a ₹600 crore fundraising plan, including ₹400 crore via Foreign Currency Convertible Bonds (FCCBs) and ₹200 crore through warrants to promoters.
>Adani Green Energy surged 4% after Macquarie initiated coverage with an ‘outperform’ rating and a ₹1,200 target price, implying a 40% upside. The firm aims to scale up to 50 GW capacity by FY2030 from the current 12 GW, with an expected 25% CAGR in EBITDA over the next five years.
Despite early gains, global trade tensions and selling in key sectors kept Indian markets subdued, with investors awaiting further cues on policy decisions and economic trends.
Published on: March 13, 2025
India's benchmark indices are poised to open higher on Thursday, buoyed by softer-than-expected inflation data from both the U.S. and India. The GIFT Nifty futures indicate a positive start for the Nifty 50, which closed at 22,470.50 on Wednesday. However, the upside may be limited due to escalating trade tensions, as U.S. President Donald Trump threatens additional tariffs on Europe and Canada in response to their retaliatory measures.
Asian markets showed mixed trends, with MSCI Asia ex-Japan edging up 0.2%. While U.S. inflation data provided temporary relief, concerns persist that rising tariffs could drive prices higher, prompting the Federal Reserve to maintain elevated interest rates—an unfavorable scenario for emerging markets like India.
Foreign investors continue to offload Indian equities, with net sales surpassing $28 billion since late September. On Wednesday alone, they sold 16.28 billion rupees ($186.7 million) worth of shares. Meanwhile, India's retail inflation dropping below 4% in February offers the Reserve Bank of India more flexibility for potential rate cuts in upcoming meetings.
Stocks in Focus:
>Infosys expands AI-driven collaboration with U.S.-based Citizens Financial Group.
>BEML and Siemens sign agreement to explore train and metro opportunities.
>Bharat Electronics secures a 24.63 billion rupees order from the Indian Air Force.
Despite early optimism, investors remain cautious amid global trade uncertainties and the impact of higher U.S. interest rates on emerging markets.
Published on: March 13, 2025
Tata Steel's share price climbed 1.54% in Thursday’s trading session after JP Morgan raised its target price to ₹180, implying a potential upside of over 20%. The stock was trading at ₹152.85 on the NSE at 9:25 AM, having gained 11.23% in the past month.
JP Morgan’s Optimistic Outlook
The brokerage firm remains bullish on Tata Steel, citing positive catalysts for its European operations, including:
>Surging European steel spreads, up 18% quarter-on-quarter and 60% higher on a spot basis compared to Q3.
>Expectations of EBITDA breakeven for Tata Steel Europe by Q1 FY26.
>A significant increase in EBITDA per tonne (EBITDA/t) forecasts for FY26 and FY27 to $68 and $70, up from previous estimates of $19 and $27.
>An overall EBITDA upgrade of 8-11% for FY26 and FY27.
Tata Steel’s Market Position
>The company’s market capitalization now stands at ₹2 lakh crore, making up 6.9% of Tata Group’s total market cap.
>It is among the top three Tata Group stocks that have delivered positive returns in 2024, alongside Benares Hotels (+47%) and Tata Consumer Products (+4%).
Despite increasing investor interest in Tata Steel, JP Morgan believes the full impact of recent developments—such as Germany’s infrastructure fund and rising steel prices—is yet to be fully recognized by the market, further supporting its bullish stance.
Published on: March 13, 2025
Several key corporate announcements were made across sectors:
>Sandur Manganese and Iron Ores: CEO Krishnendu Sanyal has resigned due to personal reasons, with effect from March 10.
>Zota Health Care: The pharmaceutical company has acquired 1.33 lakh equity shares of its subsidiary Davaindia Health Mart via a rights issue for ₹55.39 crore.
>KPI Green Energy: Surinder Kumar Negi has been appointed as the company's Chief Operating Officer (COO), effective March 12.
>Tamilnad Mercantile Bank: The private lender has received an Income Tax demand of ₹58.91 crore for Assessment Year 2017-18, citing additions and disallowances. The bank intends to challenge the order in the appropriate legal forum.
>Godrej Agrovet: The company will acquire the remaining 48.06% stake in Creamline Dairy Products (CDPL) for ₹930 crore, making CDPL a wholly owned subsidiary. Godrej Agrovet already held 51.94% in the company.
These corporate moves reflect leadership changes, strategic acquisitions, and regulatory challenges shaping the business landscape.
Published on: March 13, 2025
Jio Finance, a wholly-owned subsidiary of Jio Financial Services, has made its debut commercial paper (CP) issuance, raising ₹1,000 crore ($114.95 million) at a 7.80% yield, according to three merchant bankers. This move comes as the company gears up for its first bond issuance later this month.
The non-banking financial company (NBFC) is expected to issue five-year bonds worth ₹3,000 crore with a proposed coupon rate of 7.75%. The company is in discussions with investors and will formally launch the bond issue once it secures sufficient commitments.
Credit Ratings & Financial Strength
>Commercial papers: Rated ‘A1+’ (highest short-term rating) by Crisil and Care Ratings.
>Bonds: Rated ‘AAA’ (highest long-term rating), reflecting strong creditworthiness.
>Financial Backing: Jio Finance has a robust capital structure, strong liquidity, and holds 6.1% stake in Reliance Industries (RIL), which enhances its financial stability.
Analysts highlight that Jio Finance's entry into the debt market reflects its strong liquidity framework and experienced management, positioning it well for future expansion.
Published on: March 13, 2025
The Nifty IT index has officially entered bear market territory, plunging over 21% from its peak as a fresh 3% drop in the latest trading session deepened losses. The sector has lost a staggering ₹8.4 lakh crore in market capitalization, with nine out of ten major IT firms slipping over 20%.
Among the hardest-hit stocks:
>TCS lost ₹3.8 lakh crore, the biggest erosion in market value.
>Infosys saw a decline of ₹1.7 lakh crore.
>LTIMindtree suffered the worst percentage drop, plunging 34%.
>Coforge and LTTS lost ₹16,000 crore and ₹15,000 crore, respectively.
>Wipro, down 17%, remains in correction territory but hasn't yet entered a bear market.
Why is Nifty IT Struggling?
Several factors have contributed to the sharp downturn in IT stocks:
>Global Slowdown: Major markets like the U.S. and Europe, key revenue drivers for Indian IT firms, are witnessing sluggish growth, leading to reduced IT spending.
>Trade War Concerns: Uncertainty around U.S. tariffs and trade policies is dampening investor confidence, given Indian IT’s heavy reliance on exports.
>Weak Earnings Guidance: Recent quarterly reports from IT giants have indicated slower deal wins and subdued revenue projections, further pressuring valuations.
Can the IT Sector Recover?
While the near-term outlook remains uncertain, several factors could aid recovery:
>Upcoming earnings reports will be critical in assessing the financial impact and investor sentiment.
>Monetary easing or interest rate cuts in major economies could boost global market conditions.
>Growth in AI, cloud computing, and cybersecurity may provide long-term opportunities for IT firms.
For now, investor caution prevails as the IT sector grapples with global economic headwinds and uncertain growth prospects.
Published on: March 12, 2025
Shares of Waaree Renewable Technologies surged 4% to ₹835 per share on March 12, 2025, after the company announced that its consortium of three members received a ₹740 crore Letter of Award (LOA) for an Engineering, Procurement, and Construction (EPC) contract for a 125 MWAC (181.3 MWp DC) solar power project. The deal also includes Operation and Maintenance (O&M) services on a turnkey basis.
Waaree Renewable stated that the project will be completed within 18 months from the contract signing date. The specific arrangement between consortium members will be finalized soon.
Last month, the company also secured an LOA for a 40 MWh battery storage system from Continuum Green Energy Limited, further strengthening its position in India’s renewable energy sector.
Founded in 1999, Waaree Renewable Technologies operates under Waaree Energies Limited, specializing in solar EPC projects. The company has completed over 10,000 solar projects with a total operational capacity exceeding 600 MW.
At 10:26 AM, Waaree Renewable shares were trading 1.51% higher at ₹815, while the BSE Sensex was down 0.22% at 73,936.27. The stock has a 52-week high of ₹3,037.75 and a 52-week low of ₹759.