Share Market Highlights: Sensex, Nifty snap 7-day rally, fall nearly 1% on profit-booking

NHPC has completed trial run of Unit#3 (200 MW) of Parbati-II HE Project (4x200 MW), Himachal Pradesh.

Khaitan (India) Limited has informed the resignation of Mr Manoj Chhawchharia as Independent Director of the company w.e.f. April 01, 2025

AU Small Finance (+3.25%), JSW Infra (+3.10%), Marico (+2.27%), Ashok Leyland (+2.18%), Solar Industries (+1.95%)

Green Portfolio, a leading portfolio management service provider, is pleased to announce the launch of its Category III Alternative Investment Fund (AIF) with a target of ₹300 crore, having already secured over 50% of its commitments from existing and potential investors. The fund is designed to meet the growing demand for pre-IPO, private market, and exclusive listed equity investment opportunities.

India’s AIF industry is expanding as more investors look for structured investment opportunities beyond traditional markets. With increasing participation and regulatory support, AIFs have become an important part of wealth creation. Green Portfolio’s entry into this space aligns with this trend, offering investors a structured approach to accessing both listed and unlisted markets. By leveraging the flexibility of a Category III AIF, Green Portfolio seeks to provide its investors with diversified, high-growth opportunities in India’s dynamic financial markets.

Seeing the rapid evolution of India’s AIF industry is both exciting and inspiring. At Green Portfolio, we have always taken pride in identifying promising opportunities early on. Expanding into the AIF space feels like a natural next step for us. This move allows us to offer our clients unique investment opportunities alongside our PMS offerings. We are confident that we can scale our AIF assets to ₹1,000 crore over the next few years while remaining committed to delivering reliable and sustainable returns,” said Divam Sharma, Co-Founder and Fund Manager at Green Portfolio.

Stocks advanced on BSE at 3 pm on March 26, 2025, were 951 against 3,037 stocks that declined, and 118 remained unchanged. Total stocks traded were 4,106. The number of stocks that recorded a 52-week high was 61, and those that hit a 52-week low was 250. A total of 139 stocks traded in the upper circuit, and 380 in the lower circuit.

RBI has accorded its approval to Federal Bank for acquisition of additional 4% stake in Ageas Federal Life Insurance Company Limited (AFLIC) for up to Rs. 105 crore. Federal Bank stock traded at ₹192.42 on the NSE, down 1.25%.

Bharti Airtel prepays an additional ₹5,985 crores of high-cost spectrum liabilities and voluntarily redeems $1 billion in perpetual debt securities. Stock inched up 0.96% on the NSE to ₹1,454.90.

LG Electronics Inc.’s India unit may get a lower valuation than previously expected in its initial public offering, according to people familiar with the development, after the recent decline in the nation’s stock market - (Bloomberg report)

Ashok Leyland has outrightly denied reports of promoter’s stake acquisition in SML Isuzu, stating it as factually incorrect. Ashok Leyland stock traded at ₹214.65 on the NSE, up 2.19%.

LTIMindtree has strengthened its engagement with Arenco Group, a leading group into Real Estate, Hotel Apartments, Hotels, Car Rentals & Auto Services, Furniture Manufacturing and Trading, Interior Design and other investments. Stock traded at ₹4,616 on the NSE, up 0.21%.

Exicom has announced a strategic partnership with IONAGE, a leading EV charging software platform provider, to build a neutral, unified and accessible EV charging ecosystem. Exicom Tele-Systems traded at ₹157.78 on the NSE, down 1.97%.

Promoter bought 44.4k shares at INR 142/share, aggregating to INR 62L in Mar ‘25.

Promoter bought 7.9k shares at INR 698/share, aggregating to INR 55L in Mar ‘25.

Company has received bid confirmation for L1 stage – successful bidder for Supply & Installation Package for Various Transmission Lines Pan India locations under bulk implementation (Supply + Erection) for OPGW and Communication Equipment from Power Grid Corporation of India Limited.

Company has received a Letter of Award (LOA) worth INR 232 Cr (to be completed by FY26) for the execution of Engineering, Procurement and Construction (EPC) works for Ground mount solar power project including Operation and Maintenance (O&M) of 170 MW AC/255 MW DC capacity on turnkey basis.

Zaggle Prepaid Ocean Services Ltd, a Hyderabad-based spend management solutions company, has acquired 26 per cent stake in Mobileware Technologies for Rs 15.60 crore.

In addition, Zaggle has also acquired a 12.34% stake, representing a portion of the post-closing issued and paid-up capital of the company, on a fully diluted basis, from the promoters of Mobileware for ₹7.25 crore.

Mobileware is a prominent player in India’s digital payments ecosystem empowering banks, financial services, NBFCs, and all financial institutions. 

Post this investment and acquisition, Zaggle’s total shareholding in Mobileware Technologies now stands at 38.34% on a post-issue and fully diluted basis.

AdjuTec Pharma AS, a privately held company developing antibiotic resistance breakers, today entered into a research collaboration agreement with Venus Remedies Limited (India), which will perform a pre-clinical evaluation of AdjuTec Pharma´s APC-148 platform technology.

“Gold prices surged approximately 15.4% in the global market, 14% in the domestic market in FY25. This marks one of the strongest performances in a year for gold in a decade. This remarkable rise was primarily driven by falling interest rates, geopolitical tensions, and robust central bank demand. The RBI purchased 32.63 tonnes of gold in the first half of FY25, increasing its total reserves to 854.73 tonnes. As of March 2025, gold prices reached an all-time high, surpassing $3,000 per ounce, influenced by anticipated interest rate cuts by the U.S. Federal Reserve.

As we enter the fiscal year 2026 (FY26), we anticipate continued growth in gold prices on the back of several factors - the likelihood of further rate cuts by the US Fed, geopolitical tensions, and Trump’s tariff threats. These factors combined will drive gold prices upwards. However, a few potential challenges like strengthening the U.S. dollar and shifting investor preferences towards other asset classes may deter gold’s performance in FY26.”

Top gainers: IndusInd (+3.25%), Trent (+1.38%), M&M (+1.35%), BEL (+0.82%), Power Grid (+0.81%)

Losers: Tech Mahindra (-2.30%), NTPC (-1.93%), Dr Reddy’s Lab (-1.71%), Cipla (-1.58%), SBI Life (-1.49%)

Of 3,945 stocks traded were on the BSE at 12 noon on March 26, 2025, 1,263 advanced against 2,531 stocks that declined, and 151 remained unchanged. While 50 stocks recorded a 52-week high, 174 hit a 52-week low. A total of 132 stocks traded in the upper circuit, and 280 in the lower circuit.

Swiggy shares decline after it receives tax demand amounting of ₹53 lakh, with interest of ₹45 lakh from Income Tax Department in Bengaluru. Track share price movements here

JSW Utkal Steel Ltd has executed a Business Transfer Agreement completing the transfer of the Slurry Pipe Line business to JSW Infrastructure Limited for a onsideration of Rs 1,617 crore. Further, the company has also entered into a long-term take or pay agreement on the same date with JSW Infrastructure Limited for the transportation of iron ore slurry from the Nuagaon mines to Jagatsighpur.

Intellect Design Arena Ltd in strategic partnership with LTIMindtree to catalyse the evolution of financial services across West Asia, Africa (MEA), and the Asia-Pacific (APAC), leveraging the capabilities of eMACH.ai and iTurmeric.

Mukka Proteins Ltd, India’s leading fish meal and fish oil producer, has acquired 51% stake in GSM Marine Export, a specialised manufacturer of fish meal and fish oil. This investment, amounting to ₹14 crore, aligns with Mukka Proteins’ strategy to further add capacity and strengthen its market leadership. 

It has also announced acquisition of a majority stake (51%) in FABBCO Bio Cycle and Bio Protein Technology Pvt Ltd (FABBCO), amounting to ₹6 crore.

Mukka Proteins stock traded at ₹33.14 on the NSE, down 1.28%.

Star Health and Allied Insurance Company’s stock traded flat on the NSE at ₹348.75, on issuing statement addressing recent media reports regarding IRDAI’s observations on lapses in the company’s claims settlement practices. The company reassured its stakeholders that it remains committed to a customer-centric approach, ensuring its processes align with the best interests of policyholders.

L&T has secured an ultra-mega order worth over ₹15,000 crore from QatarEnergy LNG for the North Field Production Sustainability Offshore Compression Project (NFPS COMP 4). Shares inched up 0.34% on the NSE to ₹3,481.40.

GAIL (India) has received approval for capacity augmentation of the Dahej-Uran-Dabhol-Panvel Natural Gas Pipeline (DUPL-DPPL) from the existing 19.9 MMSCMD to 22.5 MMSCMD from Petroleum and Natural Gas Regulatory Board (PNGRB). 

Stock traded flat on the NSE at ₹176.98

Nifty Bank opened today’s session with a gap-up at 51,640 versus yesterday’s close of 51,608. It inched higher after opening and is now at 51,750, up 0.25 per cent so far today.

Nifty Bank Prediction today – March 26, 2025: Bullish inclination persists

Nifty Bank futures trading higher, potential rally to 52,500; support at 51,500, resistance at 52,800, trade cautiously.

Shares of Zomato and Swiggy opened nearly 2-4 per cent lower from previous close after brokerage firm BofA Securities downgraded the shares and slashed target prices amid slow growth in the quick commerce space.

Zomato, Swiggy shares decline as analysts flag slow growth in quick commerce space

Zomato and Swiggy shares drop after BofA downgrade, while analysts predict challenges ahead in quick commerce sector.

The upmove that was in place for more than a week in the Nifty 50 seems to have taken a pause. The resistance at 23,850 that we had mentioned in this column yesterday is holding well for now. Nifty touched a high of 23,869.60 on Tuesday and has come off from there. It is currently trading at 23,685, marginally up by 0.06 per cent. The advances/declines ratio is at 24:26. This leaves the bias slightly negative.

Nifty Prediction Today – March 26, 2025: Corrective fall is possible, go short on a break below the immediate support

Nifty 50 faces resistance at 23,850, support at 23,600; traders advised to stay cautious in current market conditions.

The rupee weakened by 6 paise to 85.78 against the US dollar in early trade on Wednesday, weighed down by a negative trend in domestic equities and the recovery of the American currency in the overseas market.

Rupee falls 6 paise to 85.78 against US dollar in early trade

Rupee faces pressure from liquidity constraints, tariff concerns, and month-end demand, but supported by foreign fund inflows.

IREDA shares dip 1.27% on the NSE to ₹167.80. The board had approved a borrowing programme of up to ₹30,800 crore for the FY 2025-26.

It had raised ₹910.37 crore through the issuance of Privately Placed Subordinated Tier-II Bonds for a 10-year tenor at an annual coupon rate of 7.74%

Track Zomato and Swiggy share price movements live here

JM Financial has entered into a Share Purchase Agreement with Aparna Aiyar Family Trust (AAFT) and has acquired 38,955 equity shares, representing 1.38% of the equity share capital of JM Financial Credit Solutions Limited.

JM Financial surged 3.97% on the NSE to ₹99.16

IndusInd (+3.35%), Bharti Airtel (+1.40%), BPCL (+1.22%), Power Grid (+1.20%), Bajaj Finserv (+1.08%)

After a vertical rally, the Index faced resistance at higher levels and reversed, closing at 23,668.65. The presence of a potential hidden bearish divergence, combined with the formation of a bearish candlestick pattern near the previous high, signals a possible trend reversal. The 23,800 level continues to act as a key resistance, while support is positioned at 23,400. According to GIFT Nifty trend, Indian equities are expected to open on a positive note; however, the sustainability of this move remains uncertain, as several major sectors have formed bearish engulfing candlestick patterns following a strong rally. This suggests a potential pause in the uptrend, although a close above the previous day’s candle could negate the bearish signals. Additionally, Mid and Small caps have also formed bearish engulfing candles, supporting the possibility of a broader market correction. For Bank Nifty, immediate support is seen at 50,700, with resistance at 52,000.

- US Markets eke out gains on hopes of lower Tariffs by Trump

- Indian Indices consolidate after strong rally

- Option writers expect 23450-23850 Nifty Range

Wall St Overnight

Dow +0.01%

Nasdaq +0.46%

S&P 500 +0.16%

Key Macros

- Dollar Index at 104.2, holds steady

- Oil at $73.2/Bl

Indian Indices yesterday

Nifty +0.04%

Nifty Bank -0.2%

Nifty IT +1.3%

Midcap Index -1.06%

Cash Market Flows

FII +5372 Cr

DII -2769 Cr

F&O Cues

- FIIs buy 920 Cr in Index Futures, mild short covering & long addition

- FII Longs at 33%, Shorts at 67%

- Nifty PCR cools off to 1.04 vs at 1.21

Active Nifty Options Suggest

- Strong support at 23450

- Congestion above 23850

Key To Track

- Will Midcaps resume uptick after profit booking today?

Nifty Tech Levels

- 100 DMA: 23507

- 200 DMA: 24078

@CNBCTV18Live #CuesForToday #StockMarket

MOSL on Marico: Maintain Buy on Company, target price at Rs 775/Sh (Positive)

Nuvama on Laxmi dental: Initiate Buy on Company, target price at Rs 570/Sh (Positive)

Jefferies on Aviation Sector: DGCA’s summer schedule 2025 shows a 5% rise in weekly departures (YoY). IndiGo will lead growth in summer schedule 2025 (Positive)

GS on India Strategy: HDFC Bank, AU Small Finance, M&M, Make My Trip, Indigo, Adani Ports, Power Grid, Apollo Hospitals, Titan and GCPL are top 10 ideas (Positive)

MS on India Strategy: Add Bajaj Fin and HAL to both APxJ and GEM focus lists (Positive)

MS on Bajaj Fin: See clear investment outlook & now preferred pick among largecap NBFCs (Positive)

MS on HAL: India’s aircraft fleet upgrades and expansion plan will likely create a >US$60bn order pipeline over next decade (Positive)

Citi on Metal and Cement: Investors focused more on metals than cement in Asia marketing discussions, steel was the top topic, with most investors sidelined. Most discussed stocks Ultratech, Grasim, Hindalco and Tata Steel (Neutral)

Jefferies on Auto Sector: India’s auto demand weakened in recent months as PV and two wheelers registrations down 11% and 6% respectively (Neutral)

GS on HDFC Bank: Maintain Buy on Bank, cut target price at 2090/Sh (Neutral)

MOSL on Brigade: Maintain Buy on Company, cut target price at 1415/Sh (Neutral)

Indian equities expected to open with marginal gains while volatility expected to be seen during the day.

Global Peers Update: Asian markets opened and trading in the tight range amid mixed sentiments from western peers. U.S. equity index futures are trading with flat note with more focus on trade tariffs and a string of upcoming economic readings. U.S. markets closed with mild gains with the help of recovery from Tesla as priced rose more than 3% even after data showed its European sales slumped for a second straight month.

Sectors to Watch: Power, Capital goods, Selective Metals and Infrastructure stocks expected to remain on focus during the day. 

GIFT NIFTY Price 23763.0 Adjusted Change: +58.0 Points, Percent Change: +0.24%

Technical Levels: Nifty Near Future

Support: 23624.0/23548.0

Resistance: 23868.0/23910.0

Technical Levels: Bank Nifty Near Future

Support: 51384.0/51090.0

Resistance: 51950.0/52142.0

Welspun Enterprises: Welspun Michigan Engineers Secures New Order to Upgrade the Haji Ali Storm Water Pumping Station in Mumbai (Positive)

JSW Energy: Update On Acquisition Of O2 Power Midco Holdings Pte. Limited And O2 Energy SG Pte. Limited By Our Subsidiary JSW Neo Energy Limited (Positive)

Polycab: Rakesh Rajput has been appointed as President & Head B2B Sales (North and East) of the Company w.e.f. 25th March 2025. (Neutral)

| Tight power market, structural growth, but execution challenges warrant caution on valuations

There are sectors in which it may make sense to chase expensive stocks; Power is not one of them. Indian electric utilities and IPPs face structural power demand growth and a much tighter demand-supply balance for peak power. This is leading to an expanded thermal capex opportunity (benefiting NTPC) and transmission capex opportunity (benefiting PGCIL). The industry has consolidated after a brutal decade in the 2010s, which saw many bankruptcies, leaving the survivors to benefit from rebounding growth. However, power is a tough sector – multiple challenges persist, such as the weak financial health of DISCOMs, delays in the signing of renewable PPAs, the usual execution delays and regulatory interventions. Post-Covid, stocks have re-rated sharply due to strong power demand growth, the resolution of DISCOM payment delays and high trading multiples accorded to renewable growth prospects. The correction in valuations over the past six months has reduced the ‘froth’ in valuations, putting the valuations of regulated utilities (NTPC & PGCIL) in an acceptable zone, in our view. However, we find private IPP/utility valuations still somewhat expensive, especially given execution challenges. We initiate coverage of NTPC and PGCIL at OW, Tata Power and Torrent Power at Neutral, and JSWEL at UW.

[8:18 am, 26/3/2025] KS BadriNarayanan: Goldman Sachs | Ideas from India: Finding Alpha Ideas Amidst a Cyclical Slowdown

Highlight Ten Stocks (that offer 23% upside on average) namely HDFC Bank (on CL), AU Small Finance, M&M (on CL), MMYT, Indigo, Adani Ports &SEZ, Power Grid, Apollo Hospitals, Titan (on CL) and GCPL. These names have strong tailwinds within their respective sectors and have the potential to deliver strong returns over the next 12 months due to either positive catalysts or healthy EPS growth momentum. On GS estimates these companies are expected to deliver average earnings growth of 25% and ROEs of 24% on average over 25-27E.

Stock markets will open on flat note on Wednesday, amid mixed global cues. Asian markets are trading in a tight range in early deals on Wednesday, as the volatile US stocks closed marginally higher overnight. Settlement of monthly contracts on the NSE on Thursday will keep traders busy. This being the final monthly settlement, analysts expect volatility at some individual counters.

Positive opening seen for Nifty, Sensex

Stock markets set to open flat amid mixed global cues, analysts predict sector rotation and volatility ahead.

BluSmart , which is owned by the promoters of Gensol Engineering, is reportedly facing top levels exit. According to reports its CEO Anirudh Arun has left the company, with Nandan Sharma, vice-president of business and operations, stepping into the leadership role. Reports also indicate a broader exodus of key executives, including Chief Business Officer Tushar Garg, Chief Technology Officer Rishabh Sood, and Priya Chakravarthy, vice-president.

Delhi, March 25, 2025 – Delhi-based Icon Facilitators Limited, a leading technical facilities management service provider in North India, has secured in-principle approval from the BSE SME Exchange for its proposed initial public offering (IPO). The company plans to raise approximately ₹22 crore through a fresh issue of 21,00,000 equity shares with a face value of ₹10 each, through the book-building route. Following the submission of its Draft Red Herring Prospectus (DRHP) in September 2024, Icon Facilitators is now finalizing its Red Herring Prospectus (RHP) with updated details and expects to list on the exchange shortly. Khambatta Securities Limited acts as the Book Running Lead Manager for the IPO, while Maashitla Securities Private Limited serves as the Registrar.

Stocks that will see action today: March 26, 2025

Buzzing stocks, stocks to watch: Gensol Engineering, DLF, HCL Tech, Ashoka Buildcon, Star Health Care, Samvardhana Motherson, IREDA, JSW Steel, Arvind SmartSpaces, Coal India, Indian Hotels, Kalpataru Projects, Waaree Energies

According to the DRHP, the IPO proceeds will primarily address working capital requirements, with ₹16 crore allocated for margin money and operational needs, while the remaining funds will support general corporate initiatives.

Icon Facilitators operates across industrial, commercial, and residential sectors, offering specialized services such as Electrical System Management, Captive Power Management, STP/ETP (Sewage Treatment Plant/Effluent Treatment Plant) and Water Treatment, HVAC (Heating, Ventilation, and Air Conditioning) Management, Building Management Systems (BMS), Fire & Safety Equipment maintenance, and Annual Maintenance Contracts for electromechanical equipment.

Delhi-based Icon Facilitators Limited, a leading technical facilities management service provider in North India, has secured in-principle approval from the BSE SME Exchange for its proposed initial public offering (IPO). The company plans to raise approximately ₹22 crore through a fresh issue of 21,00,000 equity shares with a face value of ₹10 each, through the book-building route. Following the submission of its Draft Red Herring Prospectus (DRHP) in September 2024, Icon Facilitators is now finalizing its Red Herring Prospectus (RHP) with updated details and expects to list on the exchange shortly. Khambatta Securities Limited acts as the Book Running Lead Manager for the IPO, while Maashitla Securities Private Limited serves as the Registrar.

According to the DRHP, the IPO proceeds will primarily address working capital requirements, with ₹16 crore allocated for margin money and operational needs, while the remaining funds will support general corporate initiatives.

Icon Facilitators operates across industrial, commercial, and residential sectors, offering specialized services such as Electrical System Management, Captive Power Management, STP/ETP (Sewage Treatment Plant/Effluent Treatment Plant) and Water Treatment, HVAC (Heating, Ventilation, and Air Conditioning) Management, Building Management Systems (BMS), Fire & Safety Equipment maintenance, and Annual Maintenance Contracts for electromechanical equipment.

As April 2 approaches, the noise around implementation of tariffs is only likely to get louder. We estimate India would potentially lose ~USD6bn (0.16% GDP) in exports to the US (at 10% broad tariffs), with this rising to ~USD31bn at 25% tariffs. While the nature of reciprocal tariff implementation is unclear, we believe a broad country-level tariff by the US is the most likely scenario, given complications around sector/commodity-level tariffs.

While India could be among the worst hit nations as per broad reciprocal differentials, we establish that the key susceptible sectors (Auto, Pharma, Electronics) are far better placed than feared, whereas Apparel and Gems/Jewellery are the most exposed. We also identify a few ‘easy wins’ to offer in exchange for tariff mitigation elsewhere (higher energy/defense imports, lower foreign EV tariffs etc).

That said, India will need to strive harder to gain opportunities from a global tariff war. Having progressed marginally in high-skill product value chains, India has captured only a small share of the low-skill pie that China vacated post-Covid. Tariffs on Mexico and Canada offer some potential opportunities, but gains (if any) will take time to accrue, given the highly integrated North American supply chains.

Country-level reciprocal tariff the most likely scenario

With reciprocal tariffs looming, there are three ways in which these could be imposed:

i. Broad country-level tariffs: Relatively simple, most likely, most damaging

ii. Sector-level tariffs: More complex, less likely, relatively less harmful

iii. Commodity/sub-sector level tariffs: Most complex, least likely, varied sectoral impact

We assess the first two scenarios with some sectoral investigation. We find that in a country-level tariff scenario, all of India’s US exports could face a ~10% tariff, causing a loss of ~USD6bn in exports (0.16% of GDP), with this rising to ~USD31bn at 25% tariffs. We note India’s total exports to US in FY24 stood at USD77.5bn (2.1% of GDP); the susceptible sectors we identified comprise ~1.1% of GDP.

NCC: Company has received 2 advance work Orders dated 25th March 2025 worth of Rs 10805 crore from BSNL for the BharatNet (Positive)

BHEL: extends its technology collaboration agreement with Vogt Power International Inc, USA (VPI) for Heat Recovery Steam Generators (Positive)

IRFC: Company enters into loan agreement of ₹5,000 crore with NTPC Renewable Energy (Positive)

NTPC Green Energy: Company declares commercial operation of 100 MW capacity out of 320 MW Bhainsara Solar PV project (800 MW) in Himachal Pradesh (Positive)

NTPC: Company announced the commercial operation of the final 100 MW capacity of the 320 MW Bhainsara Solar PV Project in Jaisalmer, Rajasthan (Positive)

Arvind Smart: Company sells 200 plots worth ₹180 crore at Bengaluru project ‘Arvind The Park’ (Positive)

Automotive Stampings: CRISIL Upgrades Ratings. Long-term rating upgraded to CRISIL A-/STABLE (from CRISIL BBB+/Stable) (Positive)

Advait Energy: Company has been confirmed as the L1 successful bidder for the OPGW Supply & Installation Package for various transmission lines across India from Power Grid Corporation of India Limited. (Positive)

Mukka Proteins: Company announced a strategic investment in FABBCO Bio Cycle and Bio Protein Technology Private Limited. (Positive)

Yash Innoventures: Company announced the launch of a redevelopment project of residential apartments in Ahmedabad, Gujarat, after winning a bid. The project value is approximately Rs 250 Crores. (Positive)

Waaree Energies: Company to inaugurate its 5.4 GW solar cell manufacturing plant at Chikhli, Navsari, Gujarat on March 29 (Positive)

Rane Engine: NCLT Chennai Bench, has sanctioned the Scheme of Amalgamation between Rane Engine Valve Limited and Rane Brake Lining Limited with and into Rane (Madras) Limited (Positive)

Prism Johnson: Declared Preferred Bidder for the Mining Lease Of Jamodi Mahanna Sector I (Part B) Limestone Block (Positive)

Thomas Cook: Company has opened a new store in Balewadi, Pune, to expand its retail presence. (Positive)

Amara Raja: Government said that use of lithium-on batteries in EV/Hybrid EV has been put in core-auto components (Positive)

Asahi India: Company has commenced commercial operations at its float glass facility in Rajasthan. (Positive)

ADC India: Company announced an interim dividend of Rs 25 per equity share for FY24-25. (Positive)

Eco Hotels: Company announced the approval for taking over a 54-room hotel in Vadodara, Gujarat on a long-term lease (Positive)

BMW Industries: Company has signed a MOU with the Ministry of Steel, Government of India under the Production Linked Incentive Scheme (Positive)

ITD Cementation: Renew Exim DMCC launched an open offer to acquire up to 4,46,64,772 equity shares of face value ₹1 each. (Positive)

HCL Tech: Company launches AI-powered ‘HCL Tech Insight’ for smart manufacturing solution (Positive)

Mobikwik: Company aims to expand product portfolio distribution network to drive profitability and revenue growth. (Positive)

Infosys: Company incorporates step-down arm Infosys BPM Netherlands BV. (Positive)

Coal India: Company incorporates Joint Venture with GAIL to tap the Synthetic Natural Gas market (Neutral)

Somany Ceramics: CRISIL Ratings has reaffirmed the credit ratings for the company’s debt instruments and facilities (Neutral)

Crompton Greaves Consumer: Company received a notice of demand from the Income Tax Dept for ₹29.92 Cr (Neutral)

Waaree Energies: Company announced the appointment of Mr. R.S. Loona as an Independent Director for 5 years (Neutral)

United Spirits: Company revised record date for interim dividend at 03rd April (Neutral)

Medi Assist: A subsidiary of Medi Assist Healthcare Services Ltd, has been assigned a CARE AA-; Stable rating. (Neutral)

HMVL: Company announced the allotment of 56,07,412 equity shares for ₹22.47 Crore through warrant conversion in Pur Energy Limited. (Neutral)

Varun Beverages: Company acquired a 14% stake in Aspirative Creative Ventures Private Limited (Neutral)

IREDA: Board approves borrowing programme up to ₹30,800 crore for FY 2025-26 (Neutral)

Manappuram Finance: Company to consider borrowing programme on March 29 For FY26. (Neutral)

Mason Infratech: Company announced the resignation of CS Ravi Prakash Tiwari from his role as Company Secretary & Compliance Officer, effective March 25, 2025. (Neutral)

Bosch Ltd: Company announced changes in its HR leadership. Mr. Raman Kumar Singh appointed as Senior Vice President - HR, effective May 1, 2025. (Neutral)

Afcons: MD S Paramasivan appointed as Chairman of Project Export Promotion Council. (Neutral)

Agribio Spirits: Company announced the resignation of CS Versha Goyal, Company Secretary & Compliance Officer, and effective March 27, 2025. (Neutral)

Jyothy Labs: Company board approves sale of entire equity stake in Jyothy Kallol Bangladesh. (Neutral)

Madhav Copper: Company received an order on Mar 24, 2025, from the Income Tax Dept, levying a penalty under section 270A of the Income Tax Act, 1961, for the assessment year 2018-19. The penalty amounts to Rs 3.07 cr. (Neutral)

NIACL: Company announced the appointment of Ms. Mukta Sharma as the Chief Underwriting Officer, effective March 25, 2025. (Neutral)

Neogen Chemicals: Company announced its Board approved an investment in its wholly-owned subsidiary, Neogen Chemicals Japan Corporation Limited. The investment involves subscribing to equity shares of NCL Japan, totaling up to JPY 200 million. (Neutral)

Granules India: Company approves restructuring plan involving US units. (Neutral)

Indegene: Company arm Indegene Ireland to acquire MJL Communications Group & Its Arm MJL Advertising on a debt free cash free basis for GBP 3.4 million (Neutral)

Jindal Stainless: Company announced the acquisition of a 5.03% stake in Mynd Solutions. (Neutral)

Avinash Textile: Company is installing 1800.10 KWP rooftop solar power plant at its mill in Dera Bassi, Punjab. (Neutral)

*Federal Bank: Entered into a Memorandum of Understanding (MOU) to acquire a 4% equity stake in Ageas Federal Life Insurance Company. (Neutral)

ONGC: Company to infuse ₹3,300 crore in arm ONGC Green. (Neutral)

TVS Motor: Arm TVS Motor (Singapore) to acquire additional 8.26% stake in GO Corporation, Switzerland for CHF 500,000 (Neutral)

JP Associates: Deadline for submission of EOIs for Jairprakash Associates ends with at least 26 entities coming forward. (Neutral)

DLF: Arm DLF Home Developers acquires 49.997% stake in DLF Urban for ₹496.73 crore from Reco Greens Pte. (Neutral)

Aditya Birla Capital: Company said it has invested ₹40 crore in its wholly-owned subsidiary, (Neutral)

Torrent Pharma: Company has issued commercial papers (CPs) worth ₹300 crore on March 25 (Neutral)

Dredging Corporation: Company announced the appointment of Mrs. P Uma Gandhi as Chief Financial Officer. (Neutral)

Tanla Platforms: Completed the transfer of its 100% equity stake in Gamooga Softtech to Karix Mobile. (Neutral)

Nazara Technologies: Company announced the sale of its 71.54% stake in Sports Unity Private Limited (SUPL) to Mr. Shyamal Mehta for INR 7,15,404. (Neutral)

Ramco Systems: Company announced the appointment of Justice Chitra Venkataraman (Retd.) as a Non-Executive Independent Director (Neutral)

TVS Motors: Ex-Dividend date today, Rs 10/Share (Neutral)

REC: Ex-Dividend date today, Rs 3.6/Share (Neutral)

Redington: Company gets ₹175-crore tax demand order (Negative)

Maruti: Company has received a draft Assessment Order for the FY 2021-22 wherein certain additions/ disallowances amounting to Rs 2966 crore with respect to returned income. (Negative)

All we’re going to do is reciprocal. I’ll likely be more lenient than reciprocal.

Plans to implement copper import tariffs within weeks.

(The comments given on recorded interview, so no major impact but given soft comments on tariff third time this week)

Anticipate to continue increasing interest rates if economy, prices align with our projections from quarterly outlook report.

Japan financial system maintains resilience.

Forex is more likely to affect prices than previously.

(Hawkish comments over outlook)

Cintas Corporation (Pre market) (Sector- Textile)

Paychex, Inc (Pre market) (Sector- Financial)

Dollar Tree, Inc (Pre market) (Sector- Retail)

Chewy, Inc (Pre market) (Sector- Retailer)

Jefferies Financial Group Inc. (Post market) (Sector- Financial)

Bank China ADR (TENT) (Sector- Financial)

BOC Hong Kong ADR (TENT) (Sector- Financial)

TENT U.K. Annual Budget Release

12.30 U.K. CPI y/y (Expected: 2.9% versus Previous: 3.0%)

18.00 U.S. Durable Goods Orders m/m (Expected: -0.6% versus Previous: 3.2%)

19.30 U.S. FOMC Member Kashkari Speaks

https://play.google.com/store/apps/details?id=com.intelegain.rb

Recent Interview...

As of 18:32 PM Tuesday 25 March 2025

AU Small Financ: Sanjay Agarwal, MD & CEO

Rumours Of CFO Leaving The Co Are Floated By Entities That Don’t Want Stock To Do Well: AU SFB

https://www.youtube.com/watch?v=O8ffDsawaQk

Greenply Ind: Manoj Tulsian, Joint Managing Director & CEO

Seeing A Big Shift From Unorganised To Organised Market: Greenply Industries | CNBC TV18

https://www.youtube.com/watch?v=fE_QFFN6Jv4

Jindal Stainles: Anurag Mantri, Group CFO

Nuvama Cuts Target Price Of Jindal Stainless; CFO Anurag Mantri Tenders Resignation | CNBC TV18

https://www.youtube.com/watch?v=JMNA89i2tHM

Pidilite Ind: Bharat Puri, MD

We Have The Right To Win In Small Towns & Rural India In The Paints Sector: Bharat Puri, Pidilite

https://www.youtube.com/watch?v=wiihw4hkjgY

Burger King Ind: Kapil Grover, Group Chief Marketing and Digital Officer

Took The Global Framework And Localised It To The India Palate: Burger King | CNBC TV18

https://www.youtube.com/watch?v=mQHOTsjNuzw

Bikaji Foods: Manoj Verma, COO

Expect 3-4% Volume Growth In Q4 Vs Q3 And Margin To Normalise By Q2FY26: Bikaji Foods | CNBC TV18

https://www.youtube.com/watch?v=yMcGq2vQVto

Hindalco Industries: Satish Pai, MD

We Should Be Able To Fund ?45,000 Cr For Copper & Aluminium Biz Through Internal Accruals: Hindalco

https://www.youtube.com/watch?v=mehfmriu_TI

NCC: Neerad Sharma, Hd-Strategy

Booked ?15,896 Cr Of Order Inflows In FY25: NCC | CNBC TV18

https://www.youtube.com/watch?v=u1U6kKE6YKQ

Vedanta : Anil Agarwal, Chairman & Founder

Vedanta Is Gearing Up For A Demerger That Will Create Four More Independent Entities | CNBC TV18

https://www.youtube.com/watch?v=Yk11Ce-Vb1s

Vedanta : Anil Agarwal, Chairman & Founder

We Will Continue To Work With A 35% Margin: Anil Agarwal, Vedanta Resources | CNBC TV18

https://www.youtube.com/watch?v=qGO7FEUAtVs

Events today…

https://www.researchbytes.com/Default.aspx?cc=event

Results today…

https://www.researchbytes.com/Default.aspx?cc=result

Replays available at www.researchbytes.com

The Reserve Bank Of India (RBI) is likely to cut the repo rate by 75 basis points (BPS) for the Financial Year 2025-26, as per SBI Research.

The central bank dropped the repo rate by 25 basis points (bps) to 6.25% from 6.50% on February 7, 2025. This was the first rate cut initiated by the RBI in five years since May 2020.

In its report titled “Same, Same But Different!” published on March 20, 2025, SBI Research stated that the RBI could initiate the first repo rate cut of FY 2025-26 during its monetary policy meeting in April 2025. According to the Research, RBI is expected to further cut the repo rate by at least 0.75%.

SBI Research highlighted that since the prices are stable and not rising too quickly, the RBI might reduce the repo rate by a total of 75 basis points over time. The first rate cut is likely in April 2025 and another in August 2025. The rate-cut cycle might restart in October 2025.

How will it Impact Borrowers?

It will benefit the borrowers from further reduction in the RBI’s key lending rate if they have a home loan or any other loan linked to the repo rate or are planning to do so. Since repo rate-linked loans fluctuate based on the RBI’s repo rate, any decrease in the repo rate influences banks to lower interest rates on such loans. On the other hand, when the repo rate increases, loan rates also rise.

After the RBI’s repo rate cut in February 2025, many banks have already declined the interest rates for home loans for new borrowers and existing borrowers. If the repo rate is further reduced in FY 2025–26, home loans will become even more affordable for the borrowers.

Understanding Inflation Trends

In February 2025, CPI inflation dropped to 3.6%, its lowest level in seven months, due to a decline in food and vegetable prices. However, inflation rates varied across different states. According to SBI Research, some bigger states experienced higher inflation than the all-India average. The RBI modifies the repo rate every two months in its monetary policy meetings to control inflation.

As per the report, the Consumer Price Index (CPI) inflation is expected to reduce to 3.9% in Q4 in FY25 and average to 4.7% in FY25. On this basis, it can be expected that inflation in FY26 may come to 4.0%–4.2%, while core inflation could be between 4.2% and 4.4%.

25 March 2025 (Rs. In Crs.)

Turnover: (NSE + BSE)

Cash Volume: 108835.64 + 6681.81 Total: 115517.45

F&O Volume: 17427889.83 + 49342694.92 Total: 66770584.75

Provisional Cash

FII/FPI: NET BUY: +5,371.57

(19,066.28 - 13,694.71) 

DII: NET SELL: - 2,768.87

(11,692.98 - 14,461.85)

NCC: Company has received two advance work Orders dated 25th March 2025 worth of Rs 10805 crore from BSNL for the BharatNet

BHEL: extends its technology collaboration agreement with Vogt Power International Inc, USA (VPI) for Heat Recovery Steam Generators

(Supportive for stock prices)

The short-term outlook is bullish for Grasim Industries. The stock rose over 2 per cent on Tuesday, breaking above the key resistance levels of ₹2,530 and ₹2,550. This confirms a double-bottom pattern formation on the chart. 

Stock to Buy Today: 26 March 2025 - Grasim Industries (₹2,571.55) – BUY

Stocks to buy today, 26 March 2025: Buy Grasim Industries & The share price can rise to ₹2,750-2,800

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS, and SBI

Day Trading Guide for March 26, 2025: Intraday supports, resistances for Nifty50 stocks

Day trading guide & stocks, 26 March 2025: Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS, and SBI