FOMO To FMA -Global Markets Walk the Geopolitical Tightrope: Oil Risks, War Concerns and Rising Yields Drive FII Caution.

Global Market Futures (as of 06:35 AM IST)
US Market (Futures)

• Nasdaq: +0.06%
• Dow Jones: -0.03%
• S&P 500: +0.02%

European (Futures)

• Ftse 100: +0.19%
• Cac 40: +0.14%
• Dax : +1.22%

Asian (Live Markets)

• NIKKIE 225: -2.18%
• KOSPI: -3.67%
• ASX 200: -1.51%

Gift Nifty: 24487.00 (-0.41%)

FII and DII Trading Activity March 2, 2026 in Cash market:
FIIs / FPIs: Net Sell of ₹3,295.64 crores
DIIs: Net Buy of ₹8,593.87 crores

Key Corporate Updates:

Positive:

• Hindustan Aeronautics (HAL): Ministry of Defence signed a ₹29.01 bn contract for 6 ALH Mk-III helicopters; this forms part of broader ₹50.83 bn helicopter and missile contracts, strengthening HAL’s defence order inflows and medium-term revenue visibility.
• Infosys: Deepened strategic collaboration with Intel to help global enterprises unlock AI value, specifically supporting the shift from AI pilots to production-scale deployments across core business functions.
• Tech Mahindra: Advanced AI-driven autonomous network operations for communications service providers globally through collaboration with NVIDIA, reinforcing its positioning in next-gen telecom operations and AI-led transformation.
• Reliance Industries: Jio Platforms appointed Dan Bailey as President to lead international business initiatives. Based in London, he will report to Akash Ambani and join the Executive Committee. Previously, Bailey served as Chairman of Deutsche Bank’s TMT practice.
• Natco Pharma: Launched Pomalidomide capsules in the U.S. market, expanding its oncology basket in a regulated geography and supporting incremental export-led growth opportunities.
• Cipla: Formed a 60:40 JV with Kemwell Biopharma to develop and commercialize biologic products with investments up to ₹100 mn in respective JV ratios; additionally incorporated Cipla Middle East Company in Saudi Arabia, supporting both biologics capability-building and regional expansion.
• Dixon Technologies (India): Invested ₹73.9 mn in DixTel Infocom, while Longcheer invested ₹26 mn, indicating continued commitment towards scaling electronics manufacturing and ecosystem partnerships.
• Brigade Enterprises: Signed lease agreements with MANN+HUMMEL Filter and Labcorp at Brigade Twin Towers, leasing 156,000 sq ft, supporting sustained office leasing momentum and occupancy-led cash flows.
• Juniper Hotels: Awarded a site and received LOA from DDA for land in Dwarka near Delhi Airport for a 5-star hotel, strengthening development pipeline in a high-demand micro-market.
• Silver Touch Technologies: Secured mandate to design the website for Mumbai Customs and announced AI-enabled digital governance engagement, improving credentials in public-sector digital transformation projects.
• Sonata Software: Recognized as a Microsoft Frontier Partner, enhancing credibility and potential pipeline within Microsoft-led modernization, cloud and AI programs.
• Happy Square Outsourcing Services: Won extension of 9 work orders with aggregate order value of ~₹90.2 mn, improving near-term revenue visibility and utilization outlook.
• DCX Systems: Expanded manufacturing capabilities with oversized PCB assembly capacity, which can support higher-complexity requirements in defence and aerospace electronics.
• AHAsolar Technologies: Received a ₹1.6 mn work order for an AMNS solar rooftop study, adding incremental project inflows and reinforcing execution track record.
• Grand Foundry: SAR Televenture to buy 70.17% stake from promoters/directors at ₹1.50 per share, total consideration ~₹32 mn, signaling strategic ownership change and potential restructuring/operational reset.
• Kati Patang Lifestyle: Consolidated spirits-related holdings through share swaps-acquired the remaining 2% in Empyrean Spirits and also bought 100% stake in Agnetta International; the acquisition value cited at ₹35 mn, improving control and integration optionality.
• Dabur: Announced investment to acquire a minority stake in Ras Beauty for ₹600 mn, supporting premiumization and portfolio expansion in beauty/personal care.
• Gulshan Polyols: Entered an agreement with Trident for a PCC facility, with expected additional revenue of ₹2 bn over 10 years, indicating a longer-duration revenue stream.
• IOL Chemicals & Pharmaceuticals: Expanded capacities—Acetic Anhydride to 32,000 MT PA with capex ₹57.1 mn, and Ethyl Acetate capacity increased from 100,000 MTPA to 120,000 MTPA, improving volume headroom and operational leverage potential.
• JSW Cement: Declared preferred bidder for the mining lease of the Sikilangso limestone block, strengthening raw material security and cost competitiveness.
• Capri Global Capital: Capri Loans joined Partnership for Carbon Accounting Financials (PCAF), aligning with ESG disclosure practices and potentially improving stakeholder perception.
• MAS Financial Services: Received RBI approval to undertake factoring business, enabling product expansion and potential diversification of fee/interest income sources.
• Sanmit Infra: Secured a micro-surfacing work order covering 250,000 sq m worth ₹35.1 mn, adding to road maintenance execution pipeline.
• Monarch Surveyors & Engineering Consultants: Received LOA for an order worth ₹12.8 mn, supporting consulting order book.
• Chandan Healthcare: Awarded a 10-year PPP project in Punjab for radiology centres with a planned project cost of ₹2.50 bn over 10 years, strengthening annuity-style visibility over the project duration.
• Supreme Power Equipment: Started production at its new Chennai unit, adding capacity and supporting scale-up in manufacturing operations.
• Vedanta: Declared preferred bidder for Karnapodikonda bauxite block in Odisha, improving resource pipeline visibility for raw material sourcing.
• Adani Ports: Reported Feb’26 cargo handled at 42.5 MMT (up YoY) and logistics rail volume of 52,101 TEUs, indicating healthy throughput and logistics momentum.
• IndiGo: Announced daily direct flights between Kolkata and Shanghai, expanding international connectivity and potential passenger/revenue uplift on the route.
• SpiceJet: Operated four special flights from UAE on March 3 to bring stranded Indians home and restored scheduled Fujairah–Delhi and Fujairah–Mumbai flights starting March 4, supporting continuity of operations and passenger movement.
• Esconet Technologies: Received registration from ONGC as a registered manufacturer, which can enable participation in ONGC/PSU procurement opportunities.
• Lupin: Stated tax department inspection concluded at its registered office with no adverse findings and no impact on financials from GST proceedings, reducing overhang and uncertainty.
• Allied Blenders & Distillers: Approved investment of up to ₹450 mn in KION and also approved buying up to a stake in KION Blenders, reflecting expansion/integration intent in alco-bev operations.
• LIC: Extended CFO Sunil Agarwal’s term until March 2027, providing leadership continuity in the finance function.

Negative:
 

• SEPC Ltd: Received notice of LOI cancellation from TCL, which may impact near-term order pipeline and requires reassessment of project expectations from the counterparty.
• Southern Petrochemical Industries Corp (SPIC): Plants shut down from March 3, 2026 for maintenance, which could temporarily affect output and near-term revenue recognition during the shutdown window.
• Gland Pharma: CEO Shyamakant Giri resigned, effective April 30, 2026, creating leadership transition risk and potential near-term strategic execution uncertainty.
• Vipul Ltd: Managing Director, CEO & CFO Punit Beriwala arrested on Feb 27; board is evaluating interim management arrangements, raising governance concerns and operational continuity risk.
• Bhageria Industries: Incident at Maharashtra plant on March 2, 2026 involved fall of a measuring tank containing oleum, leading to leakage and fumes; company received notice from Maharashtra Pollution Control Board and voluntarily closed the sulphonation section-despite the situation being controlled, the regulatory and operational impact remains a key risk.
• MPS Pharmaa: Approved retrenchment of 10 workers, indicating cost actions and potential operational/scale adjustment.
• DIC India: Received a tax demand with upward income adjustment of ₹38.4 mn, creating potential contingent liability pending resolution.
• Kakatiya Cement Sugar & Industries: Closed clinker production due to unfavourable market conditions, which can constrain internal clinker availability and reflect demand/price pressure.
• IIFL Capital Services: MCX levied a monetary penalty over alleged abnormal, non-genuine trades, which could impact compliance perception and require disclosures/rectification steps.
• Coffee Day Enterprises: SEBI imposed a total penalty of ₹3.8 mn relating to alleged misstatements in financial statements, adding to regulatory scrutiny and reputational risk.
• Euro Pratik Sales: GST department initiated inspection at company offices, increasing compliance and potential assessment-related risk.
• Indian Exporters / Logistics: Exporters avoiding Middle East deals as container freight costs rise, implying trade disruption and margin pressure for export-linked sectors.
• Basmati Rice Trade: Indian basmati rice shipments of 400,000 MT to the Middle East held up at ports/in-transit amid Iran conflict, indicating supply-chain delays and working capital stress for traders.
• Anantam Highways Trust: Nilesh Shukla resigned as CFO and key managerial personnel, requiring succession planning.
• Grand Continent Hotels: CFO Mithi-JN Jayaraman resigned effective immediately, indicating senior management change.
• Cressanda Railway Solutions: Chander Parkash Sharma resigned as Chairman, a board-level leadership change.

Neutral / Others

• JSW Infrastructure: Fujairah terminal storage tank damaged by drone debris; company stated no injuries and all personnel safe, and remaining 14 tanks secured with insurance coverage in place-incident appears contained but monitored for operational/claims impact.
• Karur Vysya Bank: Opened a new branch in Pattabiram, reflecting incremental network expansion and deposit/loan reach.
• Gopal Iron and Steels Company (Gujarat): Appointed Harshil Patni as Chief Financial Officer, indicating leadership change in finance function.
• Southern Petrochemical Industries (SPIC): Board appointed K R Anandan as CFO, part of finance leadership re-alignment alongside maintenance shutdown.
• Menon Bearings: R.D. Dixit resigned as MD effective March 3; Arun Aradhye appointed Managing Director and Chandrakant Ghatge appointed CFO effective March 4, signaling a structured leadership transition.
• International Travel House: Gunjan Chadha resigned as CFO and Sidharth Shah appointed as CFO, ensuring continuity via immediate replacement.
• NIIT Learning Systems: MST I-JK Limited dissolved effective March 3, 2026, reflecting legal entity rationalization.
• Poojawestern Me-Talks: Board decided not to proceed with rights issue, implying capital raising plan withdrawn/paused.
• Fedbank Financial Services: Approved issuance of NCDs up to ₹5 bn via private placement, indicating funding flexibility without immediate equity dilution.
• Viviana Power Tech: Approved fundraising via NCDs up to ₹250 mn, supporting debt-led capital planning.
• AGI Infra: Opened QIP issue with floor price set at ₹274.825 per share, initiating institutional fundraising process.
• RR Metalmakers India: Initiated talks for sale of undertaking at Sabarkantha, Gujarat, indicating potential asset monetization/exit.
• Rose Merc: Changed designation of Vaishali Parkar Kumar to MD & CFO, consolidating leadership roles.
• Aritas Vinyl: Announced resignation of Company Secretary / Compliance Officer, requiring regulatory role replacement.
• State Bank of India: Deputy Managing Director Nitin Chugh relieved as contract period ended on March 3, reflecting routine senior leadership transition.
• Aye Finance: Piloting a generative AI underwriting model, potentially improving decision speed, credit assessment and unit economics over time.
• Pine Labs: CEO said Pine Labs plans to launch a stablecoin-backed card by April-end, with plans spanning nine countries, indicating product innovation and cross-border ambition.

Non-Corporate, Unlisted & Foreign / Macro

1) India – Energy & Gulf Situation: India’s oil minister stated the country has sufficient energy reserves to deal with the ongoing situation; foreign ministry reiterated that Gulf developments evoke “great anxiety” given India’s proximity and stakes in regional security and stability.
2) India Government Sources – Fuel & Supply Management: Government source indicated no immediate plan to raise fuel prices, India not planning to push state refiners to cut exports, and India scouting alternative sources for crude, LPG and LNG; sources indicated India holds ~25 days of crude stocks and ~25 days of refined fuel stocks.
3) Natural Gas – Supply Shock: Industry sources indicated lower LNG supply from Qatar, with India rationing natural gas supply to industries; GAIL and Indian Oil reduced supply to local buyers, reflecting stress in gas availability and downstream consumption impacts.
4) Russia – Energy Support: Russian source said Russia is ready to help India with energy supplies if disruptions occur due to the Gulf crisis, providing a potential contingency supply narrative.
5) India – Industrial Data: Government reported January manufacturing/industrial output growth at 4.8% YoY, below Reuters poll expectation of 6.5%, suggesting softer-than-expected momentum.
6) India – External Accounts: RBI data showed Oct–Dec current account deficit at 1.3% of GDP (USD -13.2 bn) and balance of payments at USD -24.4 bn, with current merchandise trade balance at USD -93.6 bn, indicating pressure from trade deficit.
7) Edible Oils – India: Dealers reported February edible oil imports down 1.4% MoM to 1.29 mn MT; sunflower oil imports down 45.3% MoM to 146,000 MT; soyoil imports up 8.7% MoM to 303,000 MT; palm oil imports up 10% MoM to 844,000 MT (highest in six months).
8) Palm Oil – Malaysia (Reuters poll): February end-stocks forecast 2.63 mn MT (-6.52% MoM); exports expected 1.18 mn MT (-20.8% MoM); crude palm oil output estimated 1.3 mn MT (-17.8% MoM), pointing to a weaker production/export month.
9) India G-Secs: Central bank indicated to sell ₹290 bn of bonds via auction on March 6, including ₹130 bn of 6.90% 2065 and ₹160 bn of 6.68% 2040.
10) RBI Switch Auction: RBI switched 8.15% 2026 bonds into 8.32% 2032 debt at 6.5604% cut-off yield and into 6.57% 2033 debt at 6.6765% cut-off yield, supporting maturity extension/liability management.
11) Bond Yield: India 10-year benchmark government bond yield ended at 6.6753% versus previous close 6.6601%.
12) India–Canada: Canada PM Carney stated aim to conclude India–Canada Comprehensive Economic Partnership by end-2026; cited India–Canada uranium deal worth C$2.6 bn (corrected, not $2.6 bn), and reported strategic energy partnership.
13) Equity Market Tone: Reuters noted Indian shares fell as Middle East war dented confidence, reflecting risk-off sentiment.
14) Haldia Petrochem (Unlisted): CEO indicated plans to maximize domestic naphtha sourcing to replace Middle East supply if conflict persists; also stated sufficient naphtha stocks and high-seas supplies for near-term continuity.
15) Capricorn Energy (UK): Peel Hunt cut target price sharply to 31p from 340p, signaling significantly weaker valuation outlook per broker update.
16) CCI Approvals (Unlisted/Private Transactions): Competition watchdog approved Central Bank of India stake buy in Generali Central Insurance and Generali Central Life Insurance; approved General Atlantic stake buy in Balaji Wafers; approved Bagmane Prime Office REIT stake buy in Bagmane Developers-indicating transaction clearances without noted remedies/blocks.

Bulk Deals:

Dev Information Technology
US-based Xduce Technologies acquired an additional 51.25 lakh shares (9.09% stake) in Dev Information Technology at Rs 23.33 per share, worth Rs 11.95 crore. Meanwhile, promoters sold a combined 9.03% stake for Rs 11.86 crore. Earlier disclosures showed Xduce already held a 12.48% equity stake in the company.
Clean Max Enviro Energy Solutions
Citigroup Global Markets Mauritius sold 8.28 lakh shares in Clean Max Enviro Energy Solutions, representing a 0.7% stake, at Rs 846.72 per share. The transaction was valued at approximately Rs 70.18 crore, indicating a partial exit by the institutional investor from the renewable energy solutions company.
Kiaasa Retail
Several investors acquired shares in Kiaasa Retail at Rs 123 per share. Craft Emerging Market Fund PCC – Citadel Capital Fund bought 1.96 lakh shares for Rs 2.41 crore, while Longthrive Capital VCC – Trendview Capital Fund and Brimming Wealth Advisors LLP each purchased 1.2 lakh shares worth Rs 1.47 crore.
Sical Logistics
Porinju Veliyath’s Equity Intelligence India purchased 2.35 lakh rights shares of Sical Logistics at Rs 0.91 per share, amounting to Rs 2.13 lakh. In contrast, Girish Gulati HUF sold 1.32 lakh rights shares at Rs 0.87 per share, raising around Rs 1.15 lakh through the transaction.

IPO Listings

Mainboard Listing
PNGS Reva Diamond Jewellery

On-going IPO:
Last Date 04-Mar
IIFL Finance Ltd (Debt)
Acetech E-Commerce Ltd
Last Date 06-Mar
Sedemac Mechatronics Ltd

Upcoming IPO:
NIL

Securities Trading Ex-Dividend on March 4, 2026
Naperol Investments Ltd
Securities Trading Ex-Right Issue on March 4, 2026
Enbee Trade & Finance Ltd, 
Securities Under F&O Ban on March 4, 2026
SAMMAANCAP

Sources: WOWNEWS24X7,  Moneycontrol,  Investing.com