FOMO To FMA -Global Divergence Deepens: Energy Holds, Metals Sink, and Equities Turn Fragile

Global Market Futures (as of 05:55 AM IST)  
US Market (Futures)  

• Nasdaq: -0.10%  
• Dow Jones: +0.15%  
• S&P 500: -0.05%  

European (Futures)  

• Ftse 100: -1.85%  
• Cac 40: -1.45%  
• Dax: -1.25%  

Asian (Live)  

• NIKKEI 225: -3.34%  
• KOSPI: -4.64%  
• ASX 200: -1.22%  

Gift Nifty: 22845.00 (-1.26%)  

FII and DII Trading Activity March 20, 2026 in Cash market  
FIIs / FPIs: Net Sell of ₹5,518.39 crores  
DIIs: Net Buy of ₹5,706.23 crores  

Commodity Market Updates  
International commodity markets are showing a mixed but largely cautious trend, with metals under pressure and energy holding firm. Gold is trading around 4,465.86 (GC) and 4,430.54 (XAU/USD), down sharply, while silver has declined to 67.72, reflecting continued weakness in precious metals. Copper is also softer at 5.3030, signalling subdued industrial demand sentiment. In contrast, crude oil prices remain relatively stable, with WTI at 98.38 and Brent at 106.84, both posting modest gains. Natural gas, however, has slipped to 3.012, indicating weaker short‑term demand. Overall, metals reflect macro uncertainty, while energy markets are supported by supply dynamics and resilient demand expectations.  

Key Corporate Updates  

Positive  
 

• Kirloskar Ferrous Industries: Temporary stoppage at the Solapur plant had no material financial impact, and the company has resumed operations of the high‑pressure moulding line effective March 21, 2026.  
• Torrent Pharma: Launched semaglutide brands Sembolic and Semalix in India, becoming the first to launch generic oral semaglutide in the domestic market, with pricing starting at Rs 3,999 per month.  
• Alkem Laboratories: Launched semaglutide injection in India under Semasize, Obesema, and Hepaglide, with weekly therapy starting at Rs 450 and pre‑filled pen pricing at Rs 1,800 for four doses per month.  
• Sun Pharma: Launched semaglutide injections in India under Noveltreat and Sematrinity, with Noveltreat available in five dose strengths and Sematrinity in two dose strengths; weekly therapy is priced at Rs 900-2,000 and Rs 750-1,300, respectively.  
• Zydus Lifesciences: Launched semaglutide injection in India under Semaglyn, Mashema, and Alterme through a reusable multi‑dose pen device, priced at Rs 2,200 per month, with exclusive rights to the reusable pen platform.  
   
• Eris Lifesciences: Launched generic semaglutide in India under the Sundae brand from March 21, 2026, with multi‑dose vials priced from Rs 1,290 per month; also acquired Velbiom Probiotics’ probiotics business on a slump‑sale basis for Rs 500 million.  
• Solarium Green Energy: The company received purchase orders valued at Rs 84.1 million for solar panels in Puducherry and another purchase order valued at Rs 141 million.  
• Kesar India: Kesar India acquired a plot admeasuring approximately 1.62 hectares, with the company estimating the gross development value of the purchased land at Rs 6 billion.  
• Setco Automotive: Setco Automotive will acquire 10.31% of Lava Cast from SASPL, marking a strategic investment in the associated business.  
• Union Bank of India: Union Bank accepted Rs 30 billion worth of bids for its bonds at a coupon rate of 7.16%, while total bids received from qualified institutional buyers amounted to Rs 93.80 billion, reflecting strong investor participation.  
• Hindustan Media Ventures: The company will invest up to Rs 93.4 million in KSKT Agromart.  
• Deepak Fertilisers: Deepak Fertilisers announced an investment of Rs 50 million for a minimum equity stake in First Energy.  
• ABS Marine Services: ABS Marine Services has taken delivery of the offshore support vessel Hades, which is expected to strengthen its fleet and operating capability.  
• Sona BLW Precision Forgings: The company approved a capex allocation of Rs 622 million for gear capacity enhancement, with the proposed capacity addition pegged at 4.1 million gears.  
• Magellanic Cloud: Step‑down subsidiary Motivity Labs Inc. secured purchase orders worth USD 4.70 million from a multinational company, supporting the group’s order pipeline.  
• RDB Real Estate: The company received a letter of award for allotment of a plot for the development of an iconic wellness center project.  
• Prithvi Exchange (India): Prithvi Exchange launched a direct‑to‑customer online forex portal, expanding its retail‑facing service offering.  
• Simplex Castings: The company received an order worth Rs 231.3 million from SMS India Pvt. Ltd.  
• Kaiser Corporation: Kaiser Corporation initiated repayment and closure of its subsidiary’s outstanding bank loan, and said the initiative is expected to improve consolidated financials.  
• Ceigall India: Ceigall India emerged as the L1 bidder for an NHAI tender, with the order size valued at Rs 6.03 billion.  
• Tulsyan NEC: The company received a letter of award from Manikaran Power for a total capacity of 60 MW power supply to TNPDCL at a tariff of Rs 5.91 per unit, and separately stated that it was awarded the order to supply 60 MW RTC power in association with Manikaran Power.  
• Ecos (India) Mobility & Hospitality: ECOS announced a strategic global partnership with Sixt, saying the collaboration will expand its footprint through international mobility integration.  
• Ashok Leyland: Ashok Leyland approved an investment of up to GBP 30 million in Optare Plc, its UK subsidiary.  
• Chandan Healthcare: Chandan Healthcare secured a tender for installation / supply of a 1.5 Tesla MRI system at Civil Hospital, Rohtak.  
• Dhruv Consultancy Services: Dhruv Consultancy received a letter of award from NHAI for preparation of DPR in Uttar Pradesh, with total project consideration of Rs 39.5 million.  
• Tata Power Company: Tata Power said the Gujarat cabinet has approved a supplementary power purchase agreement for the Mundra power plant.  
• Wipro: Wipro launched its AI‑Data Center Solution, aimed at accelerating enterprise‑scale AI adoption.  
• RailTel Corporation: RailTel received a letter of intent worth Rs 1.6 billion from Prasar Bharati, secured another order worth Rs 245.4 million, and also received a letter of acceptance from East Coast Railway.  
• Infosys: Infosys, in partnership with Formula E, launched an AI‑powered Race Centre, strengthening its visibility in AI‑led sports technology solutions.  
• Veerhealth Care: Veerhealth Care received an order worth Rs 55 million from an Indian FMCG company for face care products, and said the order is to be executed within 45 days.  
• NDR InvIT Trust: NDR InvIT signed an agreement for the acquisition of 100% stake in NDR Unique Space, with the cost of acquisition pegged at Rs 2.85 billion.  
• Sula Vineyards: Sula Vineyards re‑appointed Rajeev Samant as Managing Director and CEO for a period of three years with effect from April 2026.  
• Carysil: Carysil proposed the acquisition of Setu Capital Limited at an enterprise value of GBP 2.27 million, with cash consideration of GBP 325,000.  
• Fujiyama Power Systems: Fujiyama entered into an agreement with the Uttar Pradesh government under the UP Electronic Manufacturing Policy, 2020, for incentive disbursement of up to Rs 82.1 million.  
• Sandhar Technologies: Sandhar Technologies approved an investment of EUR 915,000 in Sandhar Technologies Barcelona S.L.  
• PVR INOX: PVR INOX opened a 4‑screen multiplex at Anjana Central, Agra, continuing its screen expansion strategy.  
• Devyani International: The board approved an investment of THB 1.21 billion in Restaurants Development Co., Ltd.  
• Tata Motors: Tata Motors said it will increase prices of passenger vehicles from April 1, 2026, with a weighted average increase of 0.5% for its ICE portfolio, in order to partially offset continued input cost inflation.  

Negative  

• Kotak Mahindra Bank: Kotak Mahindra Capital Company (KMCC) will sell part of its stake in Infina for Rs 12.94 billion, indicating stake monetisation by a group entity.  
• Global Defence Industries: The company said its fund‑raising proposal may be considered at a later stage due to prevailing market conditions, indicating a deferment in capital raising plans.  
• Indosolar: Sonal Shrivastava resigned as Chief Financial Officer with effect from March 20, 2026.  
• IDBI Bank: IDBI Bank was subjected to a monetary penalty of Rs 55 million.  
• ELGI Equipments: ELGI said there is no immediate material impact on operations, but financial impact cannot currently be ascertained; it added that demand and order execution in Gulf markets are expected to be impacted in the near term, operations are continuing, but potential risks to manufacturing output remain in the coming weeks due to LPG availability constraints.  
• IFGL Refractories: IFGL Refractories temporarily halted operations at Kandla due to LPG supply disruption, said management is unable to quantify the impact at this stage, and further noted that LPG supply disruption is expected to affect major refractory industry players.  
• Balkrishna Industries: Balkrishna Industries received a tax demand order amounting to Rs 521.1 million.  
• State Bank of India: SBI disclosed that the Income Tax Department has raised a demand of Rs 63.38 billion for assessment year 2023‑24.  
• Rashtriya Chemicals and Fertilizers: The company received an income tax demand notice of Rs 43.6 million.  
• DLF: Best Investment Corporation sold 1.3 million shares in DLF via block deals, while related entities to investment firm Baillie Gifford sold 3 million shares in DLF via block deals, increasing secondary market supply.  
• Zee Entertainment: Norges Bank sold 6.1 million shares in Zee Entertainment through a bulk deal on the NSE.  
• Indian Rupee: The Indian rupee ended down 1.17% at a record closing low of 93.71 per US dollar versus the previous close of 92.63, marking its sharpest single‑day depreciation in more than four years.  

Neutral / Others  

• Ganga Papers India: Ganga Papers appointed Manish Kumar as Chairperson effective March 20, 2026, while Ramesh Kumar Chaudhary ceased to be Chairperson.  
• Thomas Cook (India): Thomas Cook approved the conversion of the inter‑company loan extended to Thomas Cook Lanka into OCCRPS; it also announced the demerger of its resorts and resort management business into Sterling Holiday Resorts, a share entitlement ratio of 0.81 shares of SHRL for every share of TCIL, and consolidation of four shares of TCIL into one equity share.  
• Waaree Energies: Waaree appointed Abhishek Pareek as Chief Financial Officer effective March 21, 2026, while Sonal Shrivastava ceased as CFO effective March 20, 2026; the company also appointed Jignesh Devchandbhai Rathod as Whole‑Time Director and CEO effective March 21, 2026, while Amit Ashok Paithankar was relieved as Whole‑Time Director and CEO effective March 20, 2026.  
• Gautam Exim: Gautam Exim said it will consider a sub‑division of shares and the issue of bonus shares.  
• Oberoi Realty: Oberoi Realty said the NCLT has granted an extension up to May 7 for payment of resolution money in relation to the acquisition of Hotel Horizon under the Insolvency and Bankruptcy Code.  
• Sanginita Chemicals: Sanginita Chemicals entered into a share swap and purchase agreement.  
• REC: REC will hold a board meeting on March 25, 2026 to consider its market borrowing programme for FY2026‑27.  
• Vikram Solar: Vikram Solar appointed Sameer Nagpal as CEO with effect from March 20, 2026.  
• Chemplast Sanmar: Chemplast Sanmar appointed A R Balaji as CFO effective April 1, 2026.  
• Walpar Nutritions: Walpar Nutritions approved a corporate guarantee in favour of SIDBI for a term loan of Rs 56 million.  
• Marg Techno‑Projects: Marg Techno‑Projects approved a fund raise of up to Rs 650 million through a rights issue and appointed Arun Madhavan Nair as Chief Financial Officer.  
• HFCL: HFCL said its board will consider the issue of convertible warrants to promoters on a preferential basis.  
• Bright Solar: Bright Solar approved issuance of non‑convertible debentures worth Rs 15 million on a private placement basis.  
• Kiri Industries: Kiri Industries will invest Rs 700 million in Indoasia Agrotech Fertilizers.  
• National Oxygen: National Oxygen approved the issue of up to 950,000 equity shares.  
• NIS Management: NIS Management received a work order worth Rs 5.6 million.  
• HSBC: RBI imposed a monetary penalty of Rs 3.2 million on The Hongkong and Shanghai Banking Corporation.  
• Shraddha Prime Projects: The board approved fund raising of up to Rs 970 million through a rights issue.  
• ICICI Bank: ICICI Bank director Rishi Vibha Paul filed an initial beneficial ownership statement.  
• Jayatma Industries: The company reported board changes / meetings.  
• Paradeep Parivahan: Paradeep Parivahan appointed Suryasnata Rath as CFO effective March 20, 2026.  
• Dr Reddy’s Laboratories: A company executive said Dr Reddy’s plans to launch higher doses of generic semaglutide, is collaborating with two of India’s leading companies to market generic semaglutide under their brand names, and aims to launch generic semaglutide for obesity in the next few months in India.  

Non‑Corporate, Unlisted & Foreign / Macro  

1) Zetwerk (Unlisted): According to sources, Zetwerk aims to raise about USD 500 million to USD 550 million through an IPO and plans to file confidentially within the next two weeks.  
2) Hormuz Shipping / Energy Flows: Data and sources indicated that two Indian‑flagged tankers loaded with liquefied petroleum gas are preparing to sail through the Strait of Hormuz in the coming days, while no tankers loaded with crude oil have sailed through Hormuz in the past 24 hours, according to data and market assessments.  
3) India LPG Dependence: A government official said India has not yet reached a stage of self‑sufficiency in LPG output and that LPG imports are still required to meet local demand.  
4) Qatar LNG / India Energy Risk: An Indian government official said that any attack on Qatar LNG infrastructure would impact India as well, highlighting external supply vulnerability.  
5) India Power Ministry: India’s Power Secretary said the government remains hopeful that the Middle East gas crisis will not affect its ability to meet summer power demand, and separately said that Russia has offered to supply electrical power equipment to India.  
6) RBI / Co‑operative Banks: RBI approved the voluntary amalgamation of Lalbaug Co‑operative Bank with Akhand Anand Co‑operative Bank.  
7) India Trade Policy: India launched an anti‑subsidy investigation into imports of multi‑layer paperboard from China and Indonesia.  
8) RBI Liquidity Operations: The Reserve Bank of India will conduct an overnight variable rate repo auction for Rs 1 trillion on March 23.  
9) Government Borrowing Calendar: RBI said 22 states will raise Rs 556.88 billion through loans on March 24; separately, India will auction Rs 350 billion of T‑bills on March 25, including Rs 80 billion of 364‑day T‑bills, Rs 120 billion of 182‑day T‑bills, and Rs 150 billion of 91‑day T‑bills.  
10) RBI Floating Rate Bond: RBI said the rate of interest on Government of India FRB 2033 shall be 6.75% per annum.  
11) Credit Guarantee Scheme / Microfinance: The Finance Ministry approved a Rs 200 billion credit guarantee scheme for microfinance companies for the next three months, effective from Friday, and the scheme will cover loans extended to large, medium, and small microfinance companies.  
12) India Macro Data: India’s infrastructure output for April‑February stood at 2.9% year‑on‑year, while infrastructure output for February came in at 2.3% year‑on‑year.  
13) RBI OMO / Reserves: RBI said it bought Rs 695.30 billion of bonds under open market operations as on March 13; India’s forex reserves stood at USD 709.76 billion on March 13 compared with USD 716.81 billion in the prior week; RBI also said the federal government had no outstanding loans with it as of March 13.  
14) India Bond Market: India’s 10‑year benchmark government bond yield ended at 6.7369% compared with the previous close of 6.7330%.  
15) SEBI / JP Morgan: India’s markets regulator passed a settlement order in the matter of JP Morgan Chase Bank N.A. for Rs 3.4 million.  

Bulk & Block Deals  

Naman Industries Proxima
Ashish Kacholia (ace investor) sold 10.78 lakh shares (8.25% stake) at Rs 53.41 per share for Rs 5.76 crore.
Aelea Commodities
Ashish Kacholia (ace investor) bought 7.73 lakh shares at Rs 120.5 per share for Rs 9.32 crore.
NIIT
Vanguard Total International Stock Index Fund sold 7.21 lakh shares (0.53% stake) at Rs 59.77 per share for Rs 4.31 crore.
Zee Entertainment
Norges Bank sold 60.99 lakh shares (0.63% stake) at Rs 72.73 per share for Rs 44.36 crore.
FII exit pressure on media stock.
Tridhya Tech
Chanakya Opportunities Fund I offloaded 2.49 lakh shares (1.07%) at Rs 8.15 for Rs 20.29 lakh.
Ganesha Ecosphere
India Capital Management bought 1.64 lakh shares (0.61%) at Rs 828 for Rs 13.60 crore.
Monika Alcobev
Pine Oak Global Fund sold 3.95 lakh shares (1.85%) at Rs 240 for Rs 9.48 crore.

On-going IPO:
Last Date 24-Mar
-Central Mine Planning & Design Institute Ltd
-Speciality Medicines Ltd (BSE SME)
Last Date 25-Mar
-Tipco Engineering India Ltd (BSE SME)

Upcoming IPO:
24-Mar to 27-Mar
-Powerica Ltd
-Amir Chand Jagdish Kumar (Exports) Ltd
-Sai Parenterals Ltd
-Highness Microelectronics Ltd (BSE SME)

Securities Trading Ex-Dividend on March 23, 2026
Castrol India Ltd, Power Finance Corporation Ltd,  India Glycols Ltd
Securities Trading Ex-Right Issue on March 23, 2026
TIL Ltd
Securities Under F&O Ban on March 23, 2026
SAMMAANCAP, SAIL

Source: WOWNEWS24X7, Moneycontrol, Investing.com