Global Stock Market Weakness Continues Amid Escalating Middle East War
Indian equities experienced a decline on Thursday, with the Sensex and Nifty dropping 1.4% and 1.6% respectively, influenced by the ongoing US-Iran war. US markets also closed lower overnight, with the Dow, S&P 500, and Nasdaq slipping 1.6%, 0.6%, and 0.3% respectively.Key Business Events
Several corporate events occurred during the day:- Dr Reddy's Laboratories: Received a ‘Voluntary Action Indicated’ Establishment Inspection Report from the USFDA for its Srikakulam facility.
- Garden Reach Shipbuilders: Signed a memorandum of understanding (MoU) with Kalyani Strategic Systems to jointly develop advanced naval systems, unmanned platforms, and maritime capabilities.
- Tata Elxsi: Launched its GenAI platform ‘DevStudio.ai’ to accelerate automotive software engineering and development.
- Kilburn Engineering: Approved the allotment of 1.5 lakh shares to a non-promoter category allottee.
- Zaggle Prepaid Ocean Services: Entered a pact with Blue Star to provide employee expense management solutions.
- Standard Engineering Tech: Signed a pact with API Pharma Pharmaceutical Trading to support its export expansion strategy.
- Bank of Baroda: Allotted long-term green infrastructure bonds worth Rs 10,000 cr.
- Radico Khaitan: The company's Old Admiral Brandy brand surpassed 1 cr cases in sales during FY26.
- Bajaj Auto: Received a €450 million secured term loan repayment from KTM AG.
Other Developments
- Associated Alcohols & Breweries: Board meeting scheduled for March 12 to consider warrant conversion into equity shares.
- CG Power & Industrial Solutions: CG International Holdings Singapore agreed to sell its 51% stake in Crompton Prima Switchgear Indonesia for 1 Indonesian Rupiah.
- Carysil: Step-down subsidiary Carysil Ankastre Sistemleri Ticaret was deregistered in Turkey.
- Tata Consultancy Services: In advanced talks for more AI data centres in India, aiming to meet a projected 10-gigawatt demand by 2030.
- eMudhra: Emphasized the need for stronger authentication amid expanding enterprise cybersecurity obligations.
- Jio Financial Services: Allotted 14.7 cr shares of Allianz Jio Reinsurance for Rs 147.5 cr, bringing total investment to Rs 150 cr.
- DCX Systems: Received an order worth Rs 68 cr from Hindustan Aeronautics.
- Asian Granito India: Approved allotment of 6 cr shares to Dhruti Mahesh Trivedi.
- Time Technoplast: Reported potential impact from Forex fluctuations and increased freight costs.
- MRPL: Clarified it has not declared force majeure and denied reports of halting fuel exports.
- MOIL: Raised prices of ferro-grade and chemical-grade manganese ore by 2%.
- Synthiko Foils: Arm completed acquisition of a 55% stake in Metafin Technology for Rs 1.5 cr.
- JK Tyre: Will acquire 26% stakes in Sunpulse Power for Rs 5 cr and FPEL Burning Bright for Rs 1.53 cr.
- Amber Enterprises: HDFC Mutual Fund bought 2.4 lakh shares via bulk deal at Rs 7,650 per share.
- Samhi Hotels: Will acquire a 70% partnership interest in RARE India for Rs 47.39 cr.
- GK Energy: Maharashtra GST authorities concluded inspection at the company's office.
- Shilpa Medicare: NCLT approved amalgamation scheme of arm Shilpa Therapeutics.
- Mazagon Dock Shipbuilders: CNC negotiations with the government completed.
Insider Trades
- Sanjay Labroo (Asahi India Glass, Promoter & Director) created a pledge of 2 lakh shares.
- Vama Sundari Investments Delhi (HCL Technologies, Promoter) bought 1.32 lakh shares.
- JSL Overseas Holding (Jindal Stainless, Promoter Group) bought 6.40 lakh shares.
- Genesis Exports (La Opala RG, Promoter) bought 25,000 shares.
- Jagran Vyapaar, Shree Vinay Finvest, and Ilex (MSP Steel & Power, Promoter Groups) made significant share purchases.
- Haya Mirza and Fauzia Mirza (Redtape, Promoter Groups) bought shares.
Market Activity
- FIIs sold Rs 3,752.5 cr worth of shares, while DIIs bought Rs 5,153.4 cr.
- Jindal Poly Films’ price band was changed from 20% to 10%.
- Tejas Networks was shortlisted in the Short - Term ASM Framework Stage.
- DEE Development Engineers and Kitex Garments were excluded from the ASM Framework.
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