Published on: March 7, 2025
Larsen & Toubro (L&T) is making a major push into the aerospace sector, betting on launch vehicle and satellite manufacturing as India reduces its reliance on imports and encourages private participation in space exploration. The company, already India’s largest private-sector defense manufacturer by revenue, saw its Precision Engineering and Systems unit post a 41% growth in FY2024, reaching ₹46.10 billion ($548.3 million).
At its Coimbatore facility, L&T is assembling India's first privately built Polar Satellite Launch Vehicle (PSLV) in collaboration with Hindustan Aeronautics Limited. The company is also supplying equipment for ISRO’s deep space missions and aims to scale its space business as India liberalizes foreign investment rules and shifts procurement away from state-run enterprises.
AT Ramchandani, Senior Vice President at L&T, emphasized that the company’s experience in high-tech manufacturing positions it well for aerospace expansion. With the global launch vehicle market expected to reach $160 billion over the next decade and India's commercial space sector targeting $44 billion, L&T sees significant opportunities.
The first launch of a privately built PSLV booster, originally set for early 2025, is now expected by mid-year. Each rocket is estimated to cost around $30 million. L&T aims to position India as a competitive player in the global space industry by offering reliable, cost-effective launch solutions, aligning with the government's vision of making India a space power.
Published on: March 7, 2025
IndusInd Bank Ltd announced on Friday (March 7) that the Reserve Bank of India (RBI) has approved the reappointment of Sumant Kathpalia as Managing Director and CEO for another year, from March 24, 2025, to March 23, 2026. The extension remains subject to shareholder approval, the bank confirmed in a regulatory filing.
Kathpalia, a seasoned banker with over 37 years of experience in global financial institutions such as Citibank, Bank of America, and ABN AMRO, has been with IndusInd Bank for 17 years. Since taking over as CEO in 2020, he has played a key role in the bank's turnaround, driving business strategy, digital transformation, investor relations, and compliance.
Under his leadership, the bank has strengthened its balance sheet, diversified its business segments, improved capital adequacy, and focused on the retailization of deposits. Despite the announcement, IndusInd Bank’s stock closed at ₹936.80 on the BSE, down 3.53% or ₹34.25.
Published on: March 7, 2025
In Friday’s trading session, Vodafone Idea (32.41 crore shares), Suzlon Energy (10.69 crore shares), and Tata Steel (8.18 crore shares) emerged as the most actively traded stocks by volume. Other high-volume gainers included Easy Trip Planners, Inox Wind, YES Bank, GTL Infra, Zomato, Hindustan Construction Company, and JP Power.
Despite strong activity in these stocks, the NSE Nifty 50 ended marginally higher by 7.8 points at 22,552.5, while the BSE Sensex slipped 7.51 points to close at 74,332.58.
On the downside, IndusInd Bank (-3.60%), NTPC (-2.48%), Shriram Finance (-2.10%), HCL Technologies (-1.74%), and Infosys (-1.74%) were the top losers of the session. The broader market witnessed mixed trends, with selective buying interest and profit booking in key sectors.
Published on: March 7, 2025
Axis Bank has become the first Indian bank to execute an aircraft financing transaction through its International Banking Unit (IBU) at Gujarat’s GIFT City IFSC. The deal was completed for AI Fleet Services Ltd (AIFS), the leasing arm and wholly owned subsidiary of Air India, a Tata Group company.
The transaction involves a long-term USD loan for the purchase of 34 training aircraft, which will be deployed at Air India’s upcoming pilot training institute in Amravati, Maharashtra. The order includes 31 single-engine aircraft from Piper Aircraft (USA) and 3 twin-engine aircraft from Diamond Aircraft (Austria).
Air India’s CFO, Sanjay Sharma, highlighted the airline’s five-year transformation plan, Vihaan.AI, and emphasized the role of GIFT City in financing Air India’s fleet expansion, which includes an order for 570 aircraft. In FY 2023-24, AIFS executed eight finance lease transactions worth over USD 1 billion, with the latest deal marking one of the first long-tenor, US-dollar aircraft financing transactions by an Indian bank.
The Indian government is actively promoting aircraft and ship leasing at GIFT City through tax incentives and regulatory relaxations, positioning it as a global hub for aviation financing.
Published on: March 7, 2025
The Indian equity market ended flat on Friday, with the NSE Nifty 50 closing 7.8 points or 0.03% higher at 22,552.5, while the BSE Sensex slipped 7.51 points or 0.01% to 74,332.58. However, Nifty 50 snapped its three-week losing streak, registering a 2.1% weekly gain—the best in three months.
Market momentum was driven by a broad-based recovery, with midcap and smallcap stocks witnessing strong buying interest after recent corrections. The Nifty Midcap 100 gained 2.9% over the week, while the Nifty Smallcap 250 surged 5.8%, signaling resilience in the broader market despite macroeconomic concerns.
Reliance Industries, Bharti Airtel, Tata Motors, Kotak Mahindra Bank, and Hindalco Industries were among the top gainers on the Nifty, while Infosys, NTPC, ICICI Bank, HCL Technologies, and IndusInd Bank weighed on the index.
Sectorally, six out of 12 NSE indices advanced, with Nifty Media leading gains. Nifty Metal was the top-performing sectoral index for the week. Meanwhile, the Pharma, Auto, IT, Financial Services, and Banking sectors ended their three-week losing streaks, while FMCG stocks snapped a four-week decline.
Broader indices outperformed, with the Nifty Midcap 150 rising 0.55% and the Smallcap 250 gaining 1.49%. Market breadth remained positive, as 2,987 stocks advanced, 1,009 declined, and 107 remained unchanged on the BSE.
Published on: March 7, 2025
Blue Star shares were in demand during Friday’s trading session, rising 2.64% to an intraday high of ₹2,201.55. However, by 10:55 AM, the stock pared gains and traded 0.86% lower at ₹2,126 on the BSE. The company’s market capitalisation stood at ₹43,704.45 crore, with shares trading 12.8% below their 52-week high of ₹2,419.95, recorded on January 6, 2025.
Investor sentiment was boosted after Managing Director B Thiagarajan announced that Blue Star plans to invest ₹400 crore in FY2025-26 to expand production capacity across its room air conditioner, commercial refrigeration, and commercial air conditioning segments. This includes a ₹200 crore investment in its Sri City plant to increase room air conditioner production capacity from 8.5 lakh to 12 lakh units per year and ₹150 crore for expanding commercial air conditioner capacity at its Himachal Pradesh plant.
The company is targeting 20% growth in FY2026, following an expected 25% growth in the current fiscal, driven by strong demand in the room air-conditioner segment. Blue Star also aims to increase its market share in key categories, with its room AC market share projected to rise from 13.75% to 14.25% by FY26 and its commercial refrigeration share from 30% to 33%.
For Q3 FY2025, Blue Star reported a 32% year-on-year rise in consolidated net profit to ₹132.57 crore, while revenues surged 25.3% to ₹2,807.36 crore. The electro-mechanical projects and commercial air conditioning segment saw 32.2% growth to ₹1,562.41 crore, while unitary products revenue rose 21.9% to ₹1,164.36 crore. The company’s carried-forward order book also hit a record ₹6,809.99 crore as of December 31, 2024, up 12.8% year-on-year.
With robust financial performance and planned expansion, Blue Star aims to strengthen its position in the air conditioning and refrigeration market.
Published on: March 7, 2025
AU Small Finance Bank Ltd announced on Friday (March 7) that its board has approved the issuance of unsecured, rated, listed, redeemable, subordinated, non-convertible Lower Tier II Bonds worth up to ₹1,500 crore. The issuance will be conducted via private placement through the Electronic Bidding Platform (EBP) and listed on the Wholesale Debt Market segment of BSE Limited.
This bond issuance is part of the bank’s larger ₹6,000 crore fundraising limit, which was approved by shareholders at the Annual General Meeting on July 26, 2024. The tenure details of these unsecured non-convertible debentures will be outlined in the General Information Document(s) or Key Information Document(s).
Additionally, the board has approved the reappointment of Kamlesh Shivji Vikamsey as an Independent Director (Non-Executive) for a second five-year term, effective April 25, 2025, subject to shareholder approval. Vikamsey, a fellow member of the Institute of Chartered Accountants of India, has extensive experience spanning four decades in auditing, taxation, advisory services, and corporate governance.
Despite the announcement, shares of AU Small Finance Bank ended the trading session at ₹544.30, down ₹8.85 or 1.60% on the BSE.
Published on: March 7, 2025
SBI Life Insurance Co.'s share price gained as the stock turned ex-date following the board's approval of an interim dividend of ₹2.7 per share for FY2025. The record date for shareholder eligibility is set for Friday, with the dividend set to be credited on or before March 30.
The company reported a strong financial performance for Q3 FY2025, with net profit surging 71.2% year-on-year to ₹551 crore, surpassing analysts’ estimates of ₹436 crore. Net premium income also rose 11.3% to ₹24,828 crore compared to ₹22,317 crore in the previous year.
SBI Life Insurance's share price has been on an upward trend for three consecutive days, rising 1.75% to ₹1,446.20 in Friday’s trade, marking its highest level since March 3. As of 10:08 a.m., the stock was up 0.82% at ₹1,433.00, outperforming the NSE Nifty 50’s 0.13% gain. Despite a 5.12% decline over the past 12 months, analysts remain optimistic, with 33 out of 37 tracking the stock maintaining a ‘buy’ rating. The average 12-month target price suggests a potential upside of 31.2%.
Brokerages see SBI Life Insurance’s growth trajectory as stable, driven by strong earnings, sustained premium income growth, and a favorable outlook in the insurance sector.
Published on: March 6, 2025
Shares of Route Mobile surged nearly 12% on Thursday after its promoter entity, Proximus Global, signed a partnership agreement with Nokia to explore network API solutions. The stock hit an intraday high of ₹1,119.90, rising 11.69% from its previous close of ₹1,002.65 on the BSE. It opened higher at ₹1,024.05 and saw 1.3 lakh shares traded, generating a turnover of ₹12.27 crore. The company’s market capitalization rose to ₹6,560 crore.
Despite today’s surge, Route Mobile shares are still down 34.72% in the past year and have declined 26% since the start of 2025. The stock is trading above its 5-day and 10-day moving averages but remains below its 20-day, 30-day, 50-day, 100-day, and 200-day moving averages.
Details of the Nokia-Proximus Global Partnership:
>The collaboration between Proximus Global and Nokia aims to enhance network API capabilities, bridging the telecom and enterprise sectors. The agreement will allow the companies to expose their APIs on each other’s platforms, helping developers create enterprise applications using network capabilities.
>Christophe Van De Weyer, Chief Product Officer at Proximus Global and CEO of Telesign, stated that the partnership would strengthen their API offerings, enabling enterprises and developers to seamlessly access network capabilities and deliver value-added solutions.
Route Mobile’s Business Overview:
>Route Mobile, a leading cloud communications platform provider, serves enterprises, OTT players, and mobile network operators. Its solutions include messaging, voice, email, SMS filtering, analytics, and monetization. The company’s client base spans social media firms, banks, financial institutions, e-commerce companies, and travel aggregators.
>The Nokia partnership marks a strategic step forward in expanding its enterprise communication solutions, further boosting investor sentiment in today’s session.
Published on: March 6, 2025
Gensol Engineering Ltd. continued its downward spiral, hitting the lower circuit for the third consecutive session on Thursday, with its stock plunging 10% to ₹393 on the BSE. The sharp decline follows credit rating downgrades by CARE Ratings and ICRA, triggered by ongoing delays in debt servicing and liquidity concerns raised by the company’s lenders.
In just three trading days, Gensol’s stock has tumbled 35%, while in the past week, it has plunged 40%. The stock has now dropped 70% from its 52-week high of ₹1,125.75 recorded on June 24, 2024. As of 9:54 AM, over 82,000 shares had changed hands, with sell orders pending for nearly 1 million shares across NSE and BSE.
Credit Rating Downgrades & Corporate Governance Concerns:
>CARE Ratings downgraded Gensol’s long-term and short-term loan ratings due to persistent delays in servicing term-loan obligations and a weak liquidity position.
>ICRA downgraded the company’s ratings to [ICRA]D, citing delays in debt servicing and alleged falsification of documents related to its financial position, raising serious corporate governance concerns.
>Gensol management acknowledged short-term liquidity mismatches but assured investors that the situation is improving through customer payments and strategic deleveraging initiatives.
Company’s Response & Future Outlook:
Despite financial challenges, Gensol maintains strong revenue visibility with a healthy order book. The company is actively working on debt reduction and optimizing working capital, aiming to achieve a net-zero debt status.
Gensol is a key player in the renewable energy and EV sector, specializing in solar EPC projects and electric vehicle manufacturing. Its state-of-the-art EV facility in Pune has an annual production capacity of 30,000 vehicles, and it offers EV leasing solutions to PSUs, MNCs, ride-hailing services, and logistics firms.
While the company faces immediate financial hurdles, management remains optimistic about its long-term growth potential and financial stability.
Published on: March 6, 2025
The Nifty Pharma index traded in the green on Thursday, gaining 1.02% to reach 20,332.65 as of 10:29 AM (IST), supported by strong buying in pharmaceutical stocks. Gland Pharma Ltd. (+3.66%), Zydus Lifesciences Ltd. (+3.17%), Laurus Labs Ltd. (+2.93%), Granules India Ltd. (+2.24%), and Ipca Laboratories Ltd. (+2.11%) were the top gainers in the sector. On the other hand, Abbott India Ltd. (-0.32%) and Dr. Reddy’s Laboratories Ltd. (-0.08%) were the only laggards in the index.
Meanwhile, the NSE Nifty50 edged up by 16.16 points to 22,353.45, while the BSE Sensex gained 33.32 points to trade at 73,763.55. Among the 50 stocks in the Nifty index, 22 advanced, while 28 declined.
Most Traded & 52-Week High/Low Stocks:
>Most traded stocks on the NSE included Vodafone Idea, YES Bank, Tata Steel, Suzlon Energy, and Castrol India.
>Fresh 52-week highs: Reliance Naval & Engg, Bohra Industries, Avanti Feeds, Blue Coast Hotel, and Norben Tea Exp.
>Fresh 52-week lows: Gensol Engg, Ansal Prop, MEP Infrastructure, AGS Transact Tech, and Suratwwala Business.
With pharma stocks witnessing strong buying interest, the sector continues to attract investor attention amid broader market resilience.
Published on: March 6, 2025
Ola Electric Mobility Ltd. has become the first electric two-wheeler manufacturer to secure a subsidy under India's Production-Linked Incentive (PLI) Scheme for Automobiles and Auto Components. On March 5, 2025, its wholly-owned subsidiary Ola Electric Technologies Pvt. Ltd. received ₹73.74 crore from the Union Ministry of Heavy Industries, as per an exchange filing.
The PLI-Auto Scheme, launched in September 2021 with a budget of ₹25,938 crore, aims to boost localisation and manufacturing of advanced automotive technology products, focusing on zero-emission vehicles. Ola Electric now joins Tata Motors and Mahindra & Mahindra, which have already received subsidies as passenger car manufacturers.
Cost-Cutting & Operational Challenges
While the subsidy provides financial relief, Ola Electric is also undergoing major cost-cutting measures:
>Layoffs: The company has reportedly laid off 1,400-1,500 employees, including contractual workers at its 4,000 experience centres.
>Cost Optimization: It has ended its contract with Rosmerta Digital Services Pvt., bringing vehicle registration in-house at one-fifth of the previous cost.
>Warehouse Closures: The company is shutting down state distribution centres, aiming to streamline its EV supply chain.
Growth & Profitability Challenges:
>The Roadster X motorcycle, expected to be a key driver of profitability, is yet to prove its roadworthiness.
>In-house cell manufacturing—critical for margin improvements—is delayed.
>Ola Electric needs to consistently sell 50,000 units per month to break even at an operational level. However, the company is currently selling only half of that, CEO Bhavish Aggarwal revealed in a recent analyst call.
While the PLI subsidy is a major boost, Ola Electric faces significant hurdles in scaling up operations and achieving profitability in the highly competitive EV market.
Published on: March 6, 2025
Indian stock markets continued their winning streak on Thursday, with the Sensex and Nifty closing higher for the second consecutive session. The Nifty 50 ended up 0.93% (207.40 points) at 22,544.70, while the Sensex gained 0.83% (609.86 points) to settle at 74,340.09. Intraday, both indices had risen nearly 1%, driven by strong performances in oil & gas and metal stocks.
Market Cap Surge
The total market capitalization surged by ₹10.93 lakh crore, with significant contributions from:
>Large Caps: ₹6.7 lakh crore added, led by Reliance Industries (+₹64,549 crore) and Bharti Airtel (+₹28,279 crore).
>Mid-Caps: ₹2.49 lakh crore added, with Lloyds Metals (+₹6,953 crore) and Hitachi Energy (+₹6,042 crore) leading the pack.
>Small Caps: ₹1.74 lakh crore added, boosted by Ventive Hospitality (+₹2,613 crore) and Brainbees (+₹2,580 crore).
Sectoral Performance & Market Breadth:
>Most sectoral indices closed in the green, with Nifty Oil & Gas and Nifty Metal leading the gains. Nifty Realty was the only sector in the red.
>Market breadth remained positive, with 2,987 stocks advancing, 1,009 declining, and 107 remaining unchanged on the BSE.
Top Gainers & Losers:
>Gainers: Reliance Industries, Axis Bank, TCS, NTPC, and Asian Paints were the biggest contributors to the rally.
>Losers: Tech Mahindra, Kotak Mahindra Bank, Trent, Bharat Electronics, and HDFC Life were the worst performers on the Nifty 50 index.
RailTel Gains on New Orders:
>Shares of RailTel Corporation rose nearly 4% after the company secured multiple orders worth ₹281.09 crore. The Odisha Government placed an order for ₹262 crore, while the Border Security Force (BSF) awarded a ₹19.09 crore contract.
>With strong buying across sectors and robust market breadth, investor sentiment remains optimistic, positioning the market for further gains.
Published on: March 6, 2025
US crude oil exports to India surged to 357,000 barrels per day (bpd) in February, marking the highest level in over two years, according to ship tracking data from Kpler. This represents a sharp increase from 221,000 bpd a year ago, as Indian refiners seek alternative sources following stricter US sanctions on Russian oil producers and tankers.
The shift highlights the impact of multiple rounds of sanctions imposed by Washington on oil shipments from Russia and Iran since October. With Russia facing supply constraints, Indian refiners, including Indian Oil Corp, Reliance Industries, and Bharat Petroleum Corp, have turned to light sweet West Texas Intermediate-Midland (WTI-Midland) crude, which accounted for 80% of total US crude shipments to India.
Top US suppliers included Occidental Petroleum, Equinor, Exxon Mobil, and trading house Gunvor. Meanwhile, India’s energy purchases from the US could rise to $25 billion in the near future, up from $15 billion last year, reflecting growing trade ties.
In a related trend, US crude exports to South Korea hit a record 656,000 bpd, driven by China’s 10% tariff on US oil, which rerouted flows. US exports to China dropped to just 76,000 bpd, one of the lowest volumes in five years.
With India actively diversifying its crude imports, the US is emerging as a key supplier, reshaping global oil trade dynamics.
Published on: March 6, 2025
Indian benchmark indices started positively on March 6, extending their recovery, but profit booking soon pulled the Sensex and Nifty into the red. At 9:36 AM, the Sensex was down 77.80 points (-0.11%) at 73,652.43, while the Nifty fell 20.45 points (-0.09%) to 22,316.85. Despite this, the broader market showed strength, with BSE Smallcap and Midcap indices outperforming by rising over 1% and 0.7%, respectively.
Market Drivers & Global Cues:
>Reliance Industries (+2%), Asian Paints, BPCL, and Cipla helped limit losses, while Trent, Bharti Airtel, HDFC Life, and SBI Life were among the worst performers, dropping 1-2%.
>US tariff delay on automakers boosted global sentiment, raising hopes of further trade exemptions. However, analysts remain cautious, with Geojit Financial Services’ VK Vijayakumar highlighting uncertainty in Trump’s trade policy.
>Technical levels: HDFC Securities’ Devarsh Vakil sees Nifty resistance at 22,500-22,700 and support at 22,173-22,000, while expecting short-covering to support the market.
Sectoral Trends & Key Stock Movements:
>Top gaining sectors: Nifty Pharma, Metal, Media, and Energy rose around 1% each.
>Profit booking hit IT and banking stocks, pulling Nifty Bank into the red.
>Reliance Industries surged 2% after Kotak Institutional Equities upgraded it to ‘Buy’, citing stabilization in its retail business.
>Asian Paints and BPCL gained as oil prices hit a six-month low, easing input costs for paint and oil marketing companies.
Despite early volatility, market sentiment remains positive, with analysts expecting support from short-covering and global optimism.