Today's Market at 08:20am
US Market (Futures):
Nasdaq = +158.40
Dow Jones = +234.80
S&P 500 = +36.70
European (Futures):
Ftse 100 = +25.10
Cac 40 = +18.80
Dax = +114.50
Asian:
Nikkei 225 = +28.44
ASX 200 = +6.50
Straits Times = +2.65
Hang Seng = -62.72
KOSPI = -1.17
Taiwan weighted = +12.60
Shanghai = -3.25
Gift Nifty = 23489.00 (+63)
FII and DII Trading Activity for March 21, 2025 in Cash market:
FIIs/FPIs: Net Buy of ₹7470.36 crore
DIIs: Net Sell of ₹3202.36 crore
Key Business Updates Summary:
Reliance Industries:
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Subsidiary Nauyaan Tradings (NTPL) acquired a 74% stake in Nauyaan Shipyard (NSPL) from Welspun Corp for ₹382.73 crore.
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NTPL had earlier provided an unsecured loan of ₹93.66 crore to NSPL.
Welspun Corp:
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Received ₹476.39 crore from selling its 74% stake in NSPL to a strategic investor.
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NSPL is now an associate company instead of a subsidiary.
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Prepaid ₹725 crore in debt, with net debt reduced to ₹104 crore as of December 2024.
NCC:
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Won a ₹1,480.34 crore contract for redeveloping Darbhanga Medical College & Hospital in Bihar.
Mahindra & Mahindra:
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Announced a price hike of up to 3% on SUVs and commercial vehicles from April 1 due to rising costs.
Raymond:
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Board approved an investment of ₹65 crore in Ten X Realty East for a redevelopment project.
Dr Reddy’s Laboratories:
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Sold Dr. Reddy’s Laboratories Louisiana LLC, including its Shreveport, Louisiana facility.
Alembic Pharmaceuticals:
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USFDA inspected its API-III facility in Karakhadi with no Form 483 observations.
Godrej Properties:
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Acquired 10-acre land in Yelahanka, Bengaluru for a ₹2,500 crore project.
DAM Capital Advisors:
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Received an administrative warning from SEBI over operational deficiencies in institutional broking.
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Compliance measures have since been implemented.
Apollo Hospitals Enterprise:
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Subsidiary Apollo Healthco acquired 11.2% stake in Keimed from Shobana Kamineni for ₹625.43 crore.
Power Grid Corporation of India:
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Acquired Fatehgarh II & Barmer I PS Transmission and Chitradurga Bellary REZ Transmission from PFC Consulting for ₹26.57 crore.
Allied Blenders and Distillers:
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Expanded Rangapur plant capacity by 15 lakh bulk liters, adding to its 600 lakh bulk liters licensed production.
Sundaram-Clayton:
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Declared an interim dividend of ₹4.75 per share for FY 2024-25.
IRCON International:
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Faces a ₹158.89 crore arbitration claim from Conarch Associates over railway project work.
NMDC:
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Employees resumed normal work after unions ended their protest over wage settlements.
Power Finance Corporation
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Subsidiary PFC Consulting incorporated two new SPVs for power transmission in Maharashtra.
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CMD Parminder Chopra given additional charge as CMD of REC for three months.
UCO Bank:
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Opened a ₹2,000 crore Qualified Institutions Placement (QIP) issue.
Larsen & Toubro (L&T):
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Approved ₹12,000 crore long-term borrowings via loans, debentures, or ECBs.
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Elevated Subramanian Sarma to Deputy MD & President, effective April 2.
Insolation Energy:
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Ravi Dusad appointed CFO of both Insolation Energy & its subsidiary, Insolation Green Energy.
Hindustan Copper:
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Sanjiv Kumar Singh appointed as CMD by the Ministry of Mines.
IFCI:
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Rahul Bhave appointed as MD & CEO for a three-year term.
Motilal Oswal Financial Services:
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Motilal Oswal, Raamdeo Agarawal, and Motilal Oswal Foundation sold 8 lakh shares for philanthropic purposes.
IIFL Capital Services:
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Nemkumar H resigned as MD to become Chief Growth Officer.
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R Venkataraman appointed as MD for five years, Rekha Warriar as Board Chairperson.
Ola Electric Mobility:
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Started deliveries of its S1 Gen 3 scooters across India.
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Prices range from ₹79,999 (S1 X 2kWh) to ₹1,69,999 (S1 Pro+ 5.3kWh).
Saurashtra Cement:
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Shutdown kiln for 15 days for annual maintenance, but dispatches continue.
IDBI Bank:
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RBI imposed a ₹36.30 lakh penalty for non-compliance in processing foreign exchange transactions.
ADANI GREEN:
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Company unit Adani Green Energy commissions Solar Power Project of 250 MW at Rajasthan Plant.
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AGEL says with commissioning of this plant company's Total Operational Renewable generation capacity has increased to 13,091.1 MW.
SME Listing on March 24:
Divine Hira Jewellers, Paradeep Parivahan
Stock Trades Ex-Date for Rights:
Bodhi Tree Multimedia
Stocks Trade Ex-Date for Income Distribution (InvIT):
Digital Fibre Infrastructure Trust Intelligent Supply Chain Infrastructure Trust
Stock Trades Ex-Bonus:
Enbee Trade & Finance
Stock Trades Ex-Date for Scheme of Arrangement:
ICICI Securities
Stocks in F&O ban:
Hindustan Copper, IndusInd Bank, Polycab India
Source: Moneycontrol, Investing.com, NSE India
