Stocks in the Asia Pacific region rose on Monday amid concerns about economic growth in the US. Additionally, China’s inflation dipped below zero for the first time in a year.

South Korea’s Kospi rose 0.49%, or 12.60 points to 2,576.08, while Australia’s S&P ASX 200 was up 0.27% at 7,969.80 as of 7:23 a.m. Markets in Japan rose on Monday, while the benchmark indices in China and Hong Kong were in the red.

This comes after S&P 500 rose 0.55% on Friday, while the Nasdaq Composite rose over 0.70% the Dow Jones Industrial Average also rose by 0.52% on Friday.

Among important events today Germany will announce its industrial production, while Pakistan will make its rate decision today. Japan is expected to announce its current account.

The dollar index — which tracks the greenback’s performance against a basket of 10 leading global currencies — declined for the sixth consecutive session. The benchmark yield fell four basis points to 4.26%.

Crude oil prices fell on Monday after posting seven weeks of loss with the Brent crude falling 0.41% at $70.07 a barrel as of 7:25 a.m. IST, and the West Texas Intermediate was down 0.49% at $66.71.

The benchmark indices ended flat on Friday, with the NSE Nifty 50 rising 7.8 points to 22,552.5, while the BSE Sensex slipped 7.51 points to 74,332.58. Nifty snapped a three-week losing streak, posting its best weekly gains in three months.

Reliance Industries Ltd., Bharti Airtel Ltd., Tata Motors Ltd., Kotak Mahindra Bank Ltd., and Hindalco Industries Ltd. led the gains, while Infosys Ltd., NTPC Ltd., ICICI Bank Ltd., HCLTech, and IndusInd Bank Ltd. dragged the index.

Nifty Metal was the top sectoral gainer. Pharma, auto, IT, financial services, and banking indices ended higher after three weeks of losses, while FMCG snapped a four-week decline.

Foreign investors remained net sellers for the 12th session, offloading Rs 2,377.3 crore, while domestic investors bought Rs 1,617.8 crore.

The Indian rupee closed higher by 24 paise to 86.88 against the US dollar, aided by a weaker dollar and lower crude oil prices.

Earnings Post Market Hour

Ajax Engineering Q3 Results

  • Revenue from operations rose 37% to Rs 548 crore versus Rs 399 crore.

  • Ebitda rose 32% to Rs 88 crore versus Rs 67 crore.

  • EBITDA margin at 16.1% versus 16.7%.

  • Profit rises 26% to Rs 68 crore versus Rs 54 crore.

Stocks To Watch

  • Shyam Metallics: Stainless steel sales rose 110% YoY to 8,552 MT in February. Aluminium foil sales were up 23% to 1,686 MT, specialty alloys sales rose 0.4% to 17,067 MT. Carbon steel sales fell 5% to 1.33 lakh MT, while sponge iron sales were down 20% to 75,645 MT and pellet sales declined 26% to 46,386 MT.

  • Sun TV Network: Board approved an interim dividend of Rs 2.5 per share for financial year 2025.

  • RailTel Corporation: Received a work order worth Rs 47.5 crore from East Central Railway. Also, the board is to consider an interim dividend for financial year 2025 on March 12.

  • Suraksha Diagnostic: Appointed Ravindra K. S as Group CFO, effective March 1, 2025.

  • Alembic Pharma: USFDA completed a scheduled inspection of its Bioequivalence Facility in Vadodara from March 3-7, issuing a Form 483 with one procedural observation.

  • IndusInd Bank: RBI approved the reappointment of Sumant Kathpalia as MD and CEO for one year, effective March 24.

  • Lupin: Launched Rivaroxaban tablets in the US after receiving final approval for its Abbreviated New Drug Application from the USFDA. The drug is used to reduce the risk of major cardiovascular events.

  • Nuvama Wealth Management: ICRA reaffirmed its issuer rating and revised the outlook from stable to positive.

  • M&M: Total production rose 10.4% YoY in February to 81,302 units. Total sales up 13% to 80,641 units, while total exports fell 49.7% to 1,539 units.

  • BHEL: Delhi High Court upheld a Rs 115 crore award in favour of the company.

  • Allcargo Gati: Board approved the sale of its fuel stations in Indore and Bengaluru for Rs 7.5 crore, subject to shareholder approval.

  • Coal India: Signed an MoU with IIT Hyderabad for R&D in clean coal technology and diversification in coal utilisation.

  • NMDC: Board to declare an interim dividend for financial year 2025 on March 17.

  • IRB Infra: Gross toll collection in February rose 14.5% YoY to Rs 529 crore. Average per day collection up 18.9% at Rs 18.9 crore.

  • Sterlite Tech: CFO Tushar Shroff resigned, effective March 31.

  • ONGC: Arm OPaL received approval for its final exit from Dahej Special Economic Zone. OPaL to operate as a Domestic Tariff Area unit effective March 8.

  • GMR Airports: Acquired a 10% stake in Delhi International Airport from Fraport, increasing its shareholding in DIAL to 74% from 64%.

  • Biocon: Arm Biocon Biologics reported positive Phase 3 study results for Yesintek, a biosimilar to Ustekinumab, used for chronic plaque psoriasis.

  • Birla Corporation: Entered into a share purchase agreement to acquire a 6.04% stake in CGE II Hybrid Energy for Rs 5.7 crore to source wind-solar power for its Rajasthan plant.

  • G R Infrastructure: Board approved an interim dividend of Rs 12.5 per share, payable on March 13.

  • Sunteck Realty: Incorporated a wholly-owned subsidiary, Astrica Realtors.

  • Tata Power: Tata Power Renewable Energy and Andhra Pradesh government signed an MoU to develop up to 7,000 MW of renewable energy projects, with an estimated investment of Rs 49,000 crore.

  • Oriental Rail Infrastructure: Entered the Vande Bharat segment and secured its first order worth Rs 42.89 crore from Rail Coach Factory, Kapurthala.

  • Shriram Pistons & Rings: Acquired 100% equity stake in Karna Intertech, a key supplier of gravity die casting moulds used in piston manufacturing.

  • Shilpa Medicare: USFDA issued a Form 483 with one observation for its Raichur-based Unit-1.

  • JSW Steel: Consolidated crude steel production for February rose 12% YoY to 24.07 lakh tonnes.

  • Bazaar Style: The company opened a new store in Prayagraj, Uttar Pradesh, bringing the total number of stores to 208.

  • Gensol Engineering: Promoters of the company sold nearly 2.37% stake to unlock liquidity that will be reinvested through equity infusion.

  • HFCL: HTL Ltd., a subsidiary of the company, received an order worth Rs 44.4 crore from Indian army for supply of Tactical Optical Fiber Cable Assemblies

  • India Pesticides: The company entered into a power purchase agreement with Fourth Partner Solar Power for a term of 25 years. It will subscribe shares up to 4% by investing Rs 1.92 crore.

  • Jai Corp: The company states that it is yet to be served with copy of FIR by Central Bureau of Investigation whereby the High Court at Bombay had ordered an investigation by the CBI. The company is unable to ascertain the financial impact due to the pending investigation outcome.

  • JB Chemical: USFDA issues ‘No Observation’ for inspection at Panoli facility in Gujarat.

  • Lemon Tree Hotels: The company signed two license agreements for hotels in Madhya Pradesh.

  • Marico: Board of the company appoints Ashish Goupal as CEO – India core business, Pawan Agrawal as Group CFO & CEO International Business, and Ryan Bartram as MD- Marico South Africa effective April 1.

  • Nazara Tech: The company sold its 94.86% stake in arm Openplay Technologies to Moonshine Tech for Rs 104 crore.

  • Omaxe: Omaxe Group launches New Singapore & Clarkee, with project value of Rs 600 crore at World Street by Omaxe.

  • NDTV: Defamation suit by Reliance Infra against the co and ex-officials claiming damages of Rs 10,000 crore for Rafale deal coverage has been unconditionally withdrawn.

  • Man Industries: Co inaugurates advanced spiral mill and coating facility with 50,000 TPA capacity in Pithampur.

  • Power Finance Corp: Co to consider Market Borrowing program for financial year 2026 via issuance of bonds & other means on March 12. Company to consider 4th interim dividend for on March 12.

  • KFin Tech and CAMS: KFin Tech and CAMS incorporate Joint Venture Co for the purposes of owning, developing, maintaining and operating the jointly developed investment management platform and ecosystem named ‘MF Central’.

  • Safari Industries: A minor fire incident occurred in one of the extruder machines at Company’s Factory at Halol, Gujarat.  Fire was brought under control within few minutes by internal fire systems. No injuries or casualties have been reported.

  • Happiest Minds: SBI Mutual Fund has hiked the holding in the co from 5% in Feb 2025 to 7.6% now.

  • IREDA: RBI denies company’s request for investment for implementation of hydroelectric project in Nepal. The company to represent request again to RBI.

  • Neogen Chemicals: Company shares updates on fire incident at Dahej SEZ manufacturing plant. it announced that there is extensive damage to warehouse & entire MPP3 structure, including plant in recent fire incident. Reconstruction of impacted facilities may take around 9-12 months to reinstate plant and restart operations. Loss of assets and business interruption are both adequately covered by insurance. The company has revised its standalone revenue guidance for financial year 2025 in the range of nearly Rs 765-800 crore from Rs 800-825 crore. The revenue guidance for financial year 2026 stands revised in the range of nearly Rs 775-850 crore from Rs 950-1,000 crore for standalone business.

  • Dee Development: Total order book as on Feb. 28 stood at Rs 1,339 crore. The company added Rs 86 crore to the order book and executed Rs 140 crore of the order book since January 2025.

Bulk Deals

  • Prataap Snacks: Saravana Securities D Sathyamoorthi bought 1.75 lakh shares at Rs 1,091.9 per share, while SSPL Securities sold 1.3 lakh shares at Rs 1,092.54 apiece.

  • Gensol Engineering: Anmol Singh Jaggi sold 8 lakh shares at Rs 320.01 apiece and Shirish Kishor Sankhe sold 2.95 lakh shares at Rs 326.95 per share.

Pledge Share Data

Paisalo Digital: Promoter Group Equilibrated Venture Cflow created a pledge of 43.75 lakh shares.

Insider Trading

Globus Spirits: Promoter and Director Shekhar Swarup created a pledge of 9,835 shares.

Who’s Meeting Whom

Adani Group firms: Ambuja Cement Ltd., ACC Ltd., Adani Power Ltd., Adani Enterprises Ltd., Adani Green Energy Ltd., Adani Energy Solutions Ltd. and Adani Ports and Special Economic Zone Ltd. to attend investor meeting on March 12.

Trading Tweaks

  • Price band change to 5% from 10%: Gensol Engineering, Ventive Hospitality.

  • Price band change to 5% from 20%: Kesoram Industries.

  • Price band change to 2% from 5%: Diffusion Engineers.

  • Stocks moving out of short-term ASM framework: Blue Jet Healthcare, Texmaco Infrastructure, Century Enka.

  • Spin Off Record Date (Demerger): Kesoram Industries.

  • Interim Dividend of Rs 0.8/share: Jash Engineering.

  • Securities In Ban Period: Manappuram Finance, Hindustan Copper.

F&O Cues

  • Nifty March Futures up by 0.08% at a premium of 97.45 points.

  • Nifty March futures open interest down by 0.29%.

  • Nifty Options March 13 Expiry: Maximum call open interest at 20,350 and Maximum put open interest at 24,800.

Currency Update

The Indian rupee strengthened on Friday, closing at 86.88 against the US dollar, up 24 paise from the previous close of 87.12. A decline in the US dollar index and crude oil prices provided support, offsetting pressure from continued foreign fund outflows. The local unit had opened flat at 87.11, according to Bloomberg data.

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