Share Market Highlights March 10, 2025: Sensex drops 217 points, Nifty settles at 22,460; Power Grid, HUL top gainers

Nazara Tech’s material subsidiary Nodwin Gaming has extended a guarantee for an amount not exceeding of EUR 1,560,000/- (₹14.73 crore), in favour of Co-Investor FRE GmbH & Co. KG (“the Lender”), on behalf of Freaks 4U Gaming GmbH (“the Borrower”), a step down subsidiary of Nodwin and the Company, for securing a loan, in one or more tranches, for business purposes such as working capital requirements, expansion plans, etc.

GTPL Hathway has agreed to sell its entire 50% Equity stake (i.e. 10,000 equity shares) in GTPL Jay Mataji Network Private Ltd, an associate of the Company to Deepak Kumar Yadav for an aggregate consideration of ₹1 lakh.

Joynest Premises Private Limited, a Subsidiary Company of Hubtown Limited, has made a repayment of debt availed for the development of its luxury residential project in Chembur “Hubtown Seasons”.

Hubtown stock fell 5% on the NSE to ₹192.79.

360 ONE Asset Management, today announced the launch of 360 ONE Silver ETF, an open-ended exchange-traded fund replicating/tracking domestic prices of Silver. 

This investment solution offers investors a convenient, liquid and cost-effective way to gain exposure to silver—an asset known for its industrial demand and ability to hedge against inflation.

The New Fund Offer (NFO) will remain open from 10th March to 20th March 2025. 

Please find attached the press release titled “360 ONE Asset Launches Silver ETF – A Modern Way to Invest in Silver”

Client Associates has upgraded its stance on Indian Equity Markets to “Overweight”

(from the previous “Neutral”), suggesting expected returns of 15-18% over a 3-5 year

holding period.

For Mid & Small-cap stocks, Client Associates has revised its position to “Neutral” from

the previous “Underweight” stance, with expected returns of 11-14% over the holding

period.

Stocks advanced on BSE at 3 pm on March 10, 2025, were 1,186 against 2,860 stocks that declined, and 155 remained unchanged. Total stocks traded were 4,201. The number of stocks that recorded a 52-week high was 72, and those that hit a 52-week low was 109. A total of 279 stocks traded in the upper circuit, and 279 in the lower circuit.

Gensol hits lower circuit, IndusInd & IRDEA declines over 3%, BEL & JSW Steel gain

Track live updates:

NMDC informed the exchange that trade unions have resorted to wilfull slowdown of work and work-torule in connection with wage settlement. The conciliation proceedings before the Chief Labour Commissioner at New Delhi are posted for 17th March 2025. The NMDC management.

Stock slipped 0.70% on the NSE to ₹66.66.

SJVN signs MoU with Government of Chhattisgarh & Chhattisgarh State Power Generation Company Limited for development of 1800 MW Kotpali PSP

Stock traded at ₹86.33 on the NSE, down 1.63%.

Delhivery Limited has allotted 11,79,486 equity shares following the exercise of vested employee stock options, according to a regulatory filing made today. The Stakeholders’ Relationship Committee approved the allotment on March 10, 2025.

The shares of Delhivery Limited were trading flat at ₹254.80 on the NSE today at 1.35 pm.

Delhivery allots 11.79 lakh shares under employee stock option plans 

Delhivery Limited allots 11,79,486 equity shares to employees, increasing paid-up share capital and complying with SEBI regulations.

NSE Clearing Limited (NSE Clearing), has received reaffirmation of its credit rating of ‘‘CRISIL AAA/Stable” from CRISIL. ‘‘CRISIL AAA/Stable” rating indicates the highest degree of strength with regards to honouring debt obligations. NSE Clearing is a wholly owned subsidiary of NSE. As per CRISIL, the rating reflects NSE Clearing’s “strategic importance to, and the strong support from, its parent, National Stock Exchange of India Ltd (NSE)”. The rating also factor in NSE Clearing’s “comfortable capital position and comprehensive risk management systems”.

CRISIL has stated that “The systems are regularly upgraded to pre-empt market failures”. CRISIL has reaffirmed the outlook for NSE Clearing as “Stable” and states that, “NSE Clearing will maintain its strong market position due to its association with NSE and will sustain its comprehensive risk management systems and adequate core SGF commensurate with the clearing volumes, over the medium term.” On an ongoing basis, NSE Clearing continues to address the risks in clearing and settlement with its stringent norms for selection of members, robust margining system, and risk-based position limits and surveillance mechanism.

Stock soared 5.32% on the NSE to ₹262.61.

The International Cricket Council (ICC) and Unilever announced a landmark two-year partnership today, establishing Unilever’s personal care brands Rexona and Dove as the ICC’s first dedicated commercial partner for women’s cricket through 2027. 

Natural Gas prices have been on the rise since the beginning of February this year. The Natural Gas Futures contract traded on the Multi Commodity Exchange (MCX) have surged over 50 per cent from its February low of ₹260 per mmBtu. It is currently trading at ₹405 per mmBtu.

Natural Gas: Bullish momentum intact. Go long now and on dips

Natural Gas Futures contract on MCX sees 50% surge, bullish momentum intact with resistance at ₹450, support at ₹360.

The Hindustan Adhesives board has approved investment in the shares of PT Bagla Group Indonesia, consequent to which it will become a subsidiary of Hindustan Adhesives (subscription to the share capital of 5.1 Billion Rupiah, divided into 5100 shares).

Stock fell 3.57% on the BSE to ₹370.95.

Shares of Power Grid, Hindustan Unilever, Infosys, JSW Steel and Bajaj Finance gained, while IndusInd, Trent, ONGC, Titan, and Eicher Motors depreciated among Nifty 50 constituents.

Among 2,850 stocks that were traded on the National Stock Exchange, only 850 advanced. Nifty metal and FMCG indices showed resilience, while oil & gas, consumer durables and bank indices slipped.

NSE/BSE Top gainers, losers intraday 10th March 2025: Power Grid, HUL, Infosys, JSW Steel lead gains, IndusInd slumps

NSE/BSE Top gainers, losers intraday 10th March 2025: Shares of Power Grid, Hindustan Unilever, Infosys, JSW Steel and Bajaj Finance gained, while IndusInd, Trent, ONGC, Titan, and Eicher Motors depreciated among Nifty 50 constituents. Sensex, Nifty showed modest gains, metal stocks show resilience.

SPML Infra Limited has signed a contract agreement with the Water Resource Department of Hazaribagh for a ₹617.98-crore irrigation project in Jharkhand, the company announced today. The project, part of the Konar Irrigation Project, will be executed on a turnkey basis in partnership with Vijay Kumar Mishra Construction.

SPML Infra secures ₹617.98-crore irrigation project in Jharkhand 

SPML Infra signs ₹617.98 crore irrigation project contract in Jharkhand, enhancing agricultural infrastructure and water management solutions.

Paytm (One97 Communications Ltd) has expanded its UPI statement download feature for Paytm UPI users by adding Excel format alongside the previously available PDF option. This new rollout, now available to all users, enables seamless analysis of spending, efficient financial management, and simplified tax preparation with enhanced flexibility.

This innovative and comprehensive DIY solution enables Paytm UPI users to download detailed UPI transaction statements for specific date ranges or financial years in both PDF and Excel formats. This feature provides greater flexibility for users to manage their finances effectively. The service also includes ‘notes’ added during payments and ‘tags’ assigned afterward, making reconciliation and analysis seamless. It has been highly appreciated by Chartered Accountants for its detailed narration, which simplifies their work, as well as by customers who use AI tools to gain personalized spending insights.

The UPI statement download feature is available under the ‘Balance & History’ section of the Paytm app. Paytm UPI users who have linked their bank accounts and have Paytm UPI handles with Axis Bank (@ptaxis), Yes Bank (@ptyes), State Bank of India (@ptsbi), or HDFC Bank (@pthdfc) can easily select their preferred date range and download statements in just a few clicks, streamlining financial tracking and analysis.

Paytm stock traded at ₹672.20 on the NSE, down 1.85%.

Equity benchmarks maintained modest gains in the Monday afternoon session on Monday, though the broader market sentiment remained cautious, with declining stocks outnumbering advancers by a significant margin. The 30-share BSE Sensex traded at 74,502.03, up 169.45 points or 0.23 per cent from its previous close, while the NSE Nifty rose 35.35 points or 0.16 per cent to 22,587.85 at 12.30 pm. 

Sensex, Nifty hold modest gains as market breadth remains negative 

Equity benchmarks rise cautiously, with Power Grid Corporation leading gainers and IndusInd Bank as biggest laggard. Market sentiment cautious.

Of 4,063 stocks traded on the BSE at 12.15 pm on March 10, 2025, 1,552 advanced against 2,314 stocks that declined, and 197 remained unchanged. While 63 stocks recorded a 52-week high, 86 hit a 52-week low. A total of 288 stocks traded in the upper circuit, and 197 in the lower circuit.

IndusInd Bank is facing a wave of downgrades and target price cuts from global brokerage firms after the Reserve Bank of India (RBI) approved only a one-year extension for CEO Sumant Kathpalia, raising concerns over the bank’s long-term strategic direction and leadership stability.

IndusInd Bank shares downs 3%, as CEO tenure raises concerns

IndusInd Bank is facing a wave of downgrades and target price cuts from global brokerage firms after the Reserve Bank of India approved only a one-year extension for CEO Sumant Kathpalia.

Track share price movements of trending stocks live here

Zerodha Fund House announced the launch of its new scheme Zerodha Silver ETF, an open-ended exchange traded fund replicating/ tracking domestic prices of physical silver. The scheme opens for subscription on 10 March, 2025 and will close on 18 March, 2025.

The minimum amount for application is ₹1000 and in multiples of ₹1000 thereafter. The starting Net Asset Value (NAV) of this fund will be ₹10/- per unit (subject to statutory deductions, if any) Or 1/10000th of silver per kg price.

On the launch of the fund, Vishal Jain, CEO, Zerodha Fund House said, “Silver has the potential to play a role in both investment portfolios and modern industries. With its dual identity as both an industrial metal and a precious metal, our Silver ETF provides investors with a valuable tool to diversify their portfolios and capitalize on the metal’s unique characteristics.”

The investment objective of the scheme is to generate returns that are in line with the performance of physical silver in domestic prices, subject to tracking error. The Silver ETF will invest 95%-100% in silver and silver related instruments and 0-5% in debt and money market instruments, cash and cash equivalents.

Vaibhav Jalan, CBO, Zerodha Fund House also commented on the launch, “As demand for silver accelerates across technology and clean energy, our new Silver ETF provides investors an opportunity to participate in this evolving market.”

Krystal Integrated Services has received a contract from Post Graduate Institute of Medical Education and Research, Chandigarh for providing Sanitation services at their Research Centre.(Approximate Contract value of Rs. 84,41,51,958.65/- including all duties and taxes )

Stock rose 2.60% on the NSE to ₹473.20.

Jash Engineering informed that in February 2025, the consolidated orders received by the company were worth ₹40 crore, of which orders worth Rs 23 crore are for the Indian market and orders worth Rs 17 crore for markets outside India. 

Shares slip 0.52% on the NSE to ₹589.

B.R.Goyal Infrastructure Ltd has received a Work Order for the construction of P.Q.C four-lane road from Akwada Ward to Ruva Ravechidham Ring Road for Bhavnagar Municipal Corporation, Bhavnagar in Gujarat. The accepted value of the said work order is Rs 11.27 crore.

Stock soared 5.58% on the BSE to ₹127.70

Gold prices edged higher, helped by a weaker dollar and safe-haven flows triggered by fears of a global trade war, while investors awaited further clues to gauge the Federal Reserve’s interest rate stance. President Trump last week exempted many imports from Mexico and some from Canada from those tariffs for a month, creating uncertainty in the markets and fanning worries about U.S. inflation and growth. Over the weekend, there were several updates regarding the Russia and Ukraine however, it was without any conclusion, keeping market participants on edge. On data front, Labor Department’s employment report last week showed that nonfarm payrolls increased by 151,000 last week and revising last month data lower to 125,000. However, unemployment rate increased by 0.1% to 4.1% from expectations. Along with several important data points like CPI, PPI from US, move in Dollar index will also be important to watch, as it has fallen sharply over the past few weeks.

Zydus Lifesciences Limited received final approval from the US Food and Drug Administration (USFDA) to manufacture Ketoconazole Shampoo, 2 per cent, according to the announcement issued by the company today.

Zydus gets USFDA approval for Ketoconazole Shampoo production

Zydus Lifesciences Limited received final approval from the U.S. Food and Drug Administration (USFDA) to manufacture Ketoconazole Shampoo, 2% according to the announcement issued by the company today.

JM Financial shares fall 5.26% on the BSE to ₹92.31. Reserve Bank of India had recently accorded approval for acquisition of 42.99% shareholding of JM Financial Credit Solutions Limited by JM Financial Limited.

Nifty 50 March Futures (22,675)

Nifty 50 is managing to hold on to the gains made last week. The index has begun the week on a positive note and is trading higher. Nifty is currently at 22,625 up 0.32 per cent. The advances/declines ratio is at 33:17. This keeps the sentiment positive.

Nifty Prediction Today – March 10, 2025: Wait for a breakout to take fresh long positions

Nifty 50 March Futures trading at 22,675, with key levels at 22,570 and 22,740 for potential breakout opportunities.

Schneider Electric Infrastructure approved enhancement of Capital Expenditure - capacity of Ring Main Units (RMU) for an investment of ₹15.8 crore.

Shares traded at ₹625.10 on the NSE, down 1.20%.

Poonawalla Fincorp Limited (PFL), a non-banking finance company under the Cyrus Poonawalla Group, announced today its entry into the education loan market. The company will offer loans up to ₹3 crore for students pursuing higher education at international universities.

Poonawalla Fincorp expands into education loans with global focus

Poonawalla Fincorp Limited enters education loan market, offering loans up to ₹3 crore for international higher education.

Crude oil futures traded lower on Monday morning due to weak economic data from China and uncertainty surrounding US tariffs. 

The rupee saw a steep plunge of 30 paise to 87.25 against the US dollar in early trade on Monday as the American currency started recovering from six-month low level while trade-related uncertainties weighed on investor sentiment.

Rupee plunges 30 paise to 87.25 against US dollar in early trade

Rupee plunges to 87.25 against US dollar amid trade uncertainties and foreign fund outflow, supported by easing crude oil prices.

Stock markets opened on a cautiously positive note Monday morning as the Sensex opened at 74,474.98, higher than its previous close of 74,332.58, and is currently at 74,559.39, up by 226.81 points or 0.31 per cent. Meanwhile, the Nifty opened at 22,521.85, slightly lower than its previous close of 22,552.50, but climbed to 22,625.30, gaining 72.80 points or 0.32 per cent at 9.40 am.

Markets open mixed, Power Grid leads while IndusInd Bank slumps 

Stock markets open cautiously positive, Sensex at 74,559.39, Nifty at 22,625.30, mixed opening amid global trade tensions.

Track IREDA shares price movement live here

Computer Age Management Services Ltd has entered into a joint venture agreement with KFin Technologies Ltd for incorporation of a joint venture - MFC Technologies Pvt Ltd - for owning, developing, maintaining and operating the jointly developed investment management platform and ecosystem named ‘MF Central.

CAMS traded flat at ₹3,376.55. Kfin Technologies stock traded at ₹911.75 on the NSE, down 1.91%.

Man Industries (India) inaugurates new advanced spiral mill for narrow range pipes and an advanced Polyurethane (PU) Coating Facility at its manufacturing plant in Pithampur, Madhya Pradesh on March 9, 2025

Stock trades flat on the NSE at ₹264.88.

UBS On IndusInd Bank

Downgrade To Sell, Target Cut To Rs850/Sh

1-year Tenure Is Negative For Bank’s Near-term Earnings Outlook

Focus Shifts To Regulatory Prescriptions

Cut EPS Estimate By 10.5% In FY26/27

Lack Of Strategic Direction & Lower Growth May Result In A Further De-rating

Jefferies On IndusInd Bank

Buy Call, Target Cut To Rs1,080 From Rs1,200/Sh

Approval For 1-yr Term To The CEO Could Drive Co To Start A Succession Process

We Think Deputy CEO & CFO Arun Khurana Could Be The Front-runner For CEO post

With Valuation Attractive At 1x FY26e PB, We Maintain Buy

Citi On IndusInd Bank

Buy Rating, Target At Rs1,378/Sh

One-year Extension For The CEO Signal RBI’s Discomfort

Uncertainty w.r.t Continuity of Current CEO Beyond 1 Yr Will Be A Concern

It Could Be Inferred That RBI Is Allowing More Time To Explore Alternatives

GS On IndusInd Bank

Neutral, Target At Rs964/Sh

1-year Extension To MD & CEO Delays Clarity On Mgmt’s Transition

Investors Will Also Focus On Bank’s Operational Performance Under Current CEO

Bank Is Struggling With Challenges On Multiple Fronts

Macquarie On IndusInd Bank

Outperform Call, Target At Rs1,210/Sh

Shorter Extension For The CEO Than Expected

Shorter Extension To CEO Creates An Uncertain Environment

Likelihood Of Another Extension To The CEO Is Low

BoFA Sec on IndusInd Bank

Downgrade to U-P, TP cut to Rs 850

RBI approved only 1 yr term extension for CEO, after extending it for 2 yrs in Mar’23

Worry that it might take 12-18 mths to get clarity around bk’s management &future strategic direction

Nuvama on BSE

Buy, TP cut Rs 5160 

NSE has changed expiry day for its derivative contracts to Monday, which is 1 day prior to that of BSE

Argue this would lower vols for industry as trading avenues for retail traders, who are typically more active closer to expiry, will reduce

This shall moderate BSE’s market share to 18% (from 22% in Feb-25).

Additionally, SEBI’s consultation paper on derivative exposure limits may clip growth

Reducing BSE’s FY25E/26E/27E APAT by 0.2%/13.4%/11.6%

Cutting target PE to 40x (from 50x)

Jefferies On BEL

Buy, Target At Rs325/Sh

Needs Another Rs1,130 Cr Order Inflow To Meet FY25

In FY23, Co Announced 83% Of Its Order Flow In March & Met Annual Guidance

Govt Defence Spend Rose 87% YoY In Jan 2025

Crude oil futures traded lower on Monday morning due to weak economic data from China and uncertainty surrounding US tariffs. At 9.31 am on Monday, May Brent oil futures were at $69.97, down by 0.55 per cent, and April crude oil futures on WTI (West Texas Intermediate) were at $66.62, down by 0.63 per cent. March crude oil futures were trading at ₹5828 on Multi Commodity Exchange (MCX) during the initial hour of trading on Monday against the previous close of ₹5858, down by 0.51 per cent, and April futures were trading at ₹5830 against the previous close of ₹5854, down by 0.41 per cent.

Nifty Highest OI

(13th Mar expiry)

Call:21500/ Put: 23100 .

Nifty 200 EMA - 23587

Nifty 50 EMA - 23119

Nifty Spot - 22552 

Nifty 100 PE 20.3 

FII Long index constant at 18% 

Dow Jones : +0.52%

Brent futures : $70.3

Dollar Index : 103.8

USD INR. : 87.1

Dow +223

Nasdaq +127

Dax -411

Nikkei +90

Hangseng -32

Gift Nifty -34 (22605) 

Dowfut -195

Nasdaqfut -120

Crude Oil 70.1

Dollar Index 103.60

Securities In Ban Period: 

Manappuram Finance, 

Hindustan Copper.

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.

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

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.

USA: Stocks fall amid trade war fears; Fed expected to cut rates in June; job market faces policy uncertainty; real estate market shows signs of recovery.

China: Deflation deepens; imports and bank loans decline; property sector shows positive changes; trade war tensions rise with Canada.

Japan: Real wages drop; current account deficit recorded for the first time in two years.

India: Sun Pharma to acquire Checkpoint Therapeutics.

Canada: Job market stagnates; unemployment rate holds; industry capacity use edges up; fresh tariffs from China on agriculture.

Euro Zone: Economy grew faster than expected in Q4.

UK: House prices dip unexpectedly in February.

Germany: Industrial orders fall 7% in January; fiscal spending impacts ECB outlook.

Argentina: Floods kill at least 10 in Bahia Blanca.

Australia: Storm Alfred leaves thousands without power.

Ukraine/Russia: Ukrainian drone hits Russian industrial plant; US resumes Ukraine intel sharing.

Venezuela: Flights for returning migrants from the US affected.

Global Markets: Oil prices decline on tariff concerns; Bitcoin down 5.47% at $81,554.67; crypto leaders meet at Trump’s summit.

Source: Reuters

[8:52 am, 10/3/2025] +91 98330 43598: Rahul Kalantri, VP Commodities, Mehta Equities Ltd.

BULLION

Gold and silver saw profit-taking from recent highs as a rebound in U.S. 10-year Treasury yields above 4.30% tempered gains. The U.S. administration’s decision to delay Mexico tariffs by a month added to the cautious sentiment. However, a weakening dollar, which fell to a five-month low and recorded its worst weekly decline since November 2022, provided tailwinds for gold and silver. Also, disappointing U.S. non-farm payrolls and a rise in unemployment to 4.1% reinforced safe-heaven demand. Heightened trade tariff uncertainties continue to inject volatility into the global economy,

The market ended on a muted note at 22,553, with Nifty50 weekly chart suggesting near completion of an advanced AB=CD harmonic pattern, which could signal a potential trend reversal. The resistance zone is expected to be between 22,620 and 22,730, while support is seen at 22,430. BankNifty remains in the range between 47,900 and 48,900, awaiting a breakout in either direction to establish a clear trend. In the Auto sector, Tata Motors has shown a reversal indication after bouncing back from its long-term trendline support, while Force Motors has broken out from a Falling Channel formation, supported by a positive MACD crossover. The Energy sector has broken out from a Falling Wedge formation, signaling a trend reversal, with Reliance showing a Bullish Shark pattern accompanied by positive RSI divergence. The IT sector continues to face bearish pressure, with expectations that it may test its long-term trendline before any potential reversal. Conversely, the Metal sector has shifted momentum to the positive after completing its rangebound activity, supported by a dual pattern breakout, which includes both Consolidation and Falling Channel formations. Stocks like JSL and Tata Steel have confirmed bullish movement through Symmetrical Triangle and Falling Channel breakouts, respectively, along with positive MACD crossovers. Overall, while there are signals of a potential trend reversal across various sectors, confirmation of breakouts and trend shifts will be crucial for determining the next market moves.

Tata Power: Arm Tata Power Renewable Energy signs MoU with Andhra Pradesh Government to develop up to 7,000 MW of renewable energy projects. (Positive)

Hindustan Tin: Company has started commercial operations at its new manufacturing unit in Haryana, ahead of schedule. (Positive)

RITES: Company has received a Letter of Acceptance for a project of Rs 27.96 cr. (Positive)

Biocon: Company announces positive Results from Phase 3 Study of Yesintek Biosimilar to Ustekinumab for Chronic Plaque Psoriasis. (Positive)

AstraZeneca: Company received approval from the Central Drugs Standard Control Organisation to import and distribute Durvalumab solution for infusion for an additional indication. (Positive)

Lupin: Company launches Rivaroxaban Tablets in US, following the final approval from the US FDA (Positive)

Railtel Corp: Company has received an order from East Central Railway for Rs 47.5 crore. (Positive)

Oriental Rail: Company has received an order of Rs 42.9 crore for Vande Bharat. (Positive)

JSW Steel: Crude Steel Production: 24.07 Lakh Tonnes in February 2025, up 12% YoY from 21.50 Lakh Tonnes in February 2024 (Positive)

KRBL/LT Foods/Chamanlal Setia: 100% Broken Rice Export Allowed By India (Positive)

GMR Airports: Company hikes stake in Delhi Airport to 74% after acquiring Fraport’s 10% shareholding. (Positive)

IRB Infra: February toll collections up 14.4% at Rs 528.7 crore vs Rs 462.2 crore (YoY). (Positive)

Glittek Granites: Company sold a land plot (3,967 sq m + 18,438 sq m) to YJLINK India Private Limited for INR 39 Cr (Positive)

Medicamen Biotech: Company has partnered with Major South African Conglomerate to Register and Market Its Products (Positive)

Agarwaleye” Dr Agarwal’s Health Care Ltd has opened a new branch in Virar, Maharashtra (Positive)

Patanjali: Company announces that its mega food processing plant in Nagpur will commence operations (Positive)

Inox India: Company secures a 153-megawatt order for wind turbines in Tamil Nadu from a global clean energy company. (Positive)

Lemon Tree: Company announced the signing of two new license agreements for Keys Lite hotels in Madhya Pradesh. (Positive)

Shyam Metalics: Stainless steel sales grew by 110% YoY to 8,552 MT in February 2025, while stainless steel average realizations increased 10% YoY to Rs 1.29 lakh per MT (Positive)

Nazara Technologies: Board approved the sale of 94.86% equity stake in Openplay Technologies Pvt Ltd to Moonshine Technology Pvt Ltd for INR 104.34 Cr. (Positive)

Amara Raja: Company announced the settlement of equity shares of RNGalla Family Private Limited (RFPL) into four family trusts. (Positive)

HFCL: Company has secured a contract worth approximately INR 44.36 Crores from the Indian Army (Positive)

Bodal Chemicals: Government of India has recommended imposing anti-dumping duty on imports of Trichloro Isocyanuric Acid (Positive)

Omaxe: Company has launched New Singapore in Faridabad, with a project value of Rs 600 crore. (Positive)

NDR Auto: Company has received an offer letter from Maharashtra Industrial Township (MITL), offering 26.39 acres of land in Chhatrapati Sambhaji Nagar, Maharashtra, for Rs 37.60 crore (Positive)

BHEL: Delhi High Court upholds interim order of Rs 115 crore award in favour of the company (Positive)

CG Power: Company announced the incorporation of a step-down wholly-owned subsidiary, Axiro Semiconductor Turkey (Neutral)

Shilpa Medicare: US FDA issues Form 483 with 1 observation for Raichur-based Unit-1 of its arm Shilpa Pharma Lifesciences (Neutral)

APL Ltd: US FDA issues Form 483 with 1 observation for Vadodara facility (Neutral)

Kesoram: Stock Trades Ex-Date for Spin Off as merger with Ultratech ex date today (Neutral)

ONGC: OPaL exits from Dahej SEZ, to operate as domestic tariff area unit. (Neutral)

Sterlite Technologies: Company announced the resignation of its CFO, Mr. Tushar Shroff, and effective Mar 31, 2025. (Neutral)

HCL Infosystems: Shiv Nadar inks gift deed to give 47% shareholding of HCL Corp & Vama Delhi each to his daughter Roshni Nadar Malhotra. (Neutral)

IndusInd Bank: RBI approves reappointment of Sumant Kathpalia as MD & CEO for 1 year from March 24, 2025 to March 23, 2026 (Neutral)

Ontic Finserve: Company’s board approved the resignation of Ms. Manika Misra as Company Secretary cum Compliance Officer. (Neutral)

Sun TV Network: Company declared an interim dividend of Rs. 2.50 per equity share for FY24-25. (Neutral)

Radha Madhav: Company announced the resignation of Ms. Chandni Peswani as Company Secretary and Compliance Officer, effective March 7, 2025. (Neutral)

*Syngene International Ltd: Company received a notice from the National Faceless Assessment Centre for Rs 3.25 cr penalty for Assessment Year 2015-16. (Neutral)

NMDC: Company to consider interim dividend for FY25 on March 17 (Neutral)

G R Infraprojects: Company declared an interim dividend of ₹ 12.50 per equity share for FY24-25. (Neutral)

Mahindra & Mahindra: February Production at 81,302 Units Vs 73,643 Units (YoY). (Neutral)

Sundram Fasteners: CRISIL Ratings Limited has reaffirmed the credit rating for short-term debt and commercial paper instruments. (Neutral)

CMS Info: The Supreme Court dismisses the appeal; the NCLAT judgment is upheld. (Neutral)

RCF: Company received a GST demand of Rs.9.81 cr from the Assistant Commissioner, GST Raipur on March 6, 2025. (Neutral)

Mazagon Dock: Company announced the appointment of Ruchir Agrawal as Director (Finance) for 5 years, effective March 7, 2025. (Neutral)

Coal India: Company signs MoU with IIT, Hyderabad to establish Centre of Clean Coal Energy & Net Zero at Hyderabad (Neutral)

CONCOR: Company has signed a MoU with The Energy and Resources Institute (TERI) for setting up a Centre of Excellence (COE) for green and sustainable logistics at TERI. (Neutral)

Hinduja Global: Merges step-down subsidiary Diversify Intelligent Staffing Solutions Inc with another step-down subsidiary Diversify ISS BGC Inc (Neutral)

DCAL: Board Meeting On March 12 to Consider and Approve the Proposal of Fund Raising by way of Issuance of Non-Convertible Debentures. (Neutral)

Premier Explosives: Company Incorporates Joint Venture Company Global Premier Ltd. (Neutral)

TAKE: Company announced the resignation of Mr. Chella Gowrishankar as Non-Executive Non-Independent Director). (Neutral)

Gensol Engineering: Promoters sold 2.37% of equity shares to unlock liquidity and reinvest in the business. (Neutral)

Vodafone Idea: Company received an order from the Income Tax Department for a Rs. 10.79 Cr penalty. (Neutral)

USL: Judgment upheld against USL in loan arbitration case. (Neutral)

Thangamayil: Board has approved the allotment of 36.42 lakh equity shares at an issue price of Rs 1,400 per rights equity share to eligible equity shareholders or applicants. (Neutral)

Neogen Chemicals: Company has reported a fire incident at its Dahej plant. (Negative)

Jai Corp: Company received a court order for a CBI investigation related to complaints against the company, its subsidiaries, and its chairman. (Negative)

IREDA: RBI has not acceded to the request of the company for equity investment for development and implementation of 900 MW Upper Karnali Hydro Electric Power Project in Nepal. (Negative)

Riddhi Siddhi Share Brokers Market Overview: GIFT Nifty Treading Water Amid Global Uncertainty

GIFT Nifty is flat this Monday morning, reflecting nervous global sentiment as Wall Street index futures are deep in the red. At Riddhi Siddhi Share Brokers, we believe the market theme continues to revolve around global volatility and trade war concerns, primarily driven by fears surrounding President Donald Trump’s tariff policies that may derail economic recovery.

The near-term outlook remains fragile, with potential consolidation in Nifty after the recent three-day gain streak. Sentiment remains dark as foreign institutional investors (FIIs) have already sold a massive ₹4,13,907 crore in FY25 so far.

⸻

Riddhi Siddhi Share Brokers Global Market Snapshot:

\u0009•\u0009GIFT Nifty 🇮🇳: -24 pts @ 22604

\u0009•\u0009Dow Futures: -203 pts @ 42599

\u0009•\u0009Nasdaq 100 Futures: -145 pts @ 20057

\u0009•\u0009Nikkei: -49 pts @ 36839

\u0009•\u0009Hang Seng: -115 pts @ 24116

\u0009•\u0009Dow Jones (Friday Close): +223 pts @ 42802

\u0009•\u0009Nasdaq Composite (Friday Close): +127 pts @ 18196

\u0009•\u0009Bovespa: +1677 pts @ 125035

⸻

Riddhi Siddhi Share Brokers Recap: What Happened at Wall Street

Wall Street rebounded strongly on Friday, led by Federal Reserve Chair Jerome Powell’s optimistic remarks on the U.S. economy:

\u0009•\u0009Powell reiterated confidence in the path of easing inflation.

\u0009•\u0009He also downplayed immediate recession risks, despite high uncertainty from trade policy shocks.

\u0009•\u0009S&P 500 gained 0.6%, Nasdaq Composite rose 0.7%, and Dow Jones added 222 points.

However, it still marked the worst weekly performance since September 2024:

\u0009•\u0009Dow and S&P 500 declined over 2%.

\u0009•\u0009Nasdaq lost nearly 3%.

⸻

Riddhi Siddhi Share Brokers Commodity Watch:

\u0009•\u0009COMEX Gold: Steady near $2917/oz

\u0009•\u0009WTI Crude Oil: Soft near $66.72/bbl

⸻

Riddhi Siddhi Share Brokers Technical Outlook: What’s Next for Nifty & Bank Nifty?

Nifty (Spot 22545):

\u0009•\u0009Likely to consolidate with a negative bias.

\u0009•\u0009Buy on dips in the 22350-22400 zone.

\u0009•\u0009Stop-loss: 21859

\u0009•\u0009Upside Targets: 22650 / 22757 | Aggressive: 23000-23150

Critical Support Zone: 22209

Below this level, markets may face a “sum-of-all-fears” style sell-off.

Bank Nifty (Spot 48498):

\u0009•\u0009Sell at CMP

\u0009•\u0009Stop-loss: 49859

\u0009•\u0009Downside Targets: 47844 / 47000 | Aggressive: 46100-46300

Technically, Nifty continues to trade well below its key hurdle at 24069, which also coincides with its 200 DMA. Meanwhile, Bank Nifty ended last week with an uninspiring +0.32% gain.

⸻

Riddhi Siddhi Share Brokers Stock Spotlight:

Top Performer:

\u0009•\u0009Reliance Industries (RIL): Rose 3.05% on Friday and surged 8% from last week’s low. Strong bullish momentum persists.

Under Pressure:

\u0009•\u0009Zomato: Fell 4% amid regulatory noise. FMCG distributors have dragged Zomato, Swiggy, and Zepto to the Competition Commission of India (CCI).

⸻

Riddhi Siddhi Share Brokers Chart of the Day (Bullish Picks):

\u0009•\u0009NTPC

\u0009•\u0009NALCO

\u0009•\u0009HINDALCO

Buy on early declines for interweek targets.

⸻

Riddhi Siddhi Share Brokers Bearish Trade Idea: Sell Zomato (CMP 217)

\u0009•\u0009Sell between: 223-225

\u0009•\u0009Stop-loss: 241

\u0009•\u0009Targets: 204 / 189 | Aggressive: 171

\u0009•\u0009Rationale: Bear flag on charts, momentum oscillators turning negative. Weak closing on Friday (-3.81%). Crucial support at 204.

⸻

Riddhi Siddhi Share Brokers Key Takeaway:

Despite Powell’s optimism, market sentiment remains fragile and susceptible to external shocks. Stay cautiously optimistic and adopt a disciplined trading approach.

⸻

Disclaimer / Disclosure – Riddhi Siddhi Share Brokers

The investments & trading ideas shared in this report are for educational and informational purposes only and may not be suitable for all investors. This is not investment advice. Stock market investments are subject to market risks. Always consult your registered financial advisor before investing.

Riddhi Siddhi Share Brokers, its team or authors, do not accept any liability for interpretation or usage of this content. SEBI registration and NISM certification do not assure returns or performance. Investors must take informed decisions aligned with their risk profile and financial goals.

Trilegal advised Brookfield Asset Management on the sale of its 1.6 GW renewable energy portfolio in India to Gentari Renewables India.

This transaction, structured in two phases, marks Brookfield’s first full-cycle portfolio monetization in the country for its Renewable Power & Transition business.

Trilegal acted as the transaction counsel for Brookfield and advised on all legal aspects of the sale process until closing of the transaction with Gentari.

SMC Global Securities – a financial conglomerate that offers investment and stock brokerage services has filed multiple FIRs against cyber criminals for impersonating its company’s name, logo, director’s and employee’s name and fraudulently misleading the investors using fictitious trading agreements.

Seeking a comprehensive investigation, the company in its FIR said, “We strongly encourage you to perform an exhaustive investigation into the unauthorized use of our company’s name and the related fraudulent activities. Identifying and capturing the individuals or groups accountable is crucial to restraining these illegal actions and averting further harm.”

“These cyber criminals are not only tampering with the complainant company’s name and identity but also misusing the name and reputable identity of prestigious organizations like SEBI. Most of the public are misled by the name of SEBI and the fake registration number of SEBI,” the company said in its FIR.

The FIR by SMC mentions various forms of evidence which includes screenshots of fraudulent profiles, fabricated WhatsApp conversations designed to entice investors, copies of deceptive communications, and documentation of exchanges with the fictitious entities.

It may be recalled that in August last year, both BSE and NSE had issued a joint statement cautioning investors about unscrupulous persons and entities falsely claiming to offer trading opportunities through social media platforms and showcasing fake certificates.

Gensol Engineering on Friday said its promoters sold 9 lakh shares or 2.37 per cent of the total equity shares of the company to unlock liquidity that would be reinvested in the business via equity infusion. This step is part of a strategy aimed at reinforcing the company’s balance sheet and supporting stability, it said.

Stocks that will see action today: March 10, 2025

Gensol Engineering sells shares, IREDA seeks RBI investment, REL withdraws appeal, HPCL appoints new CMD, Biocon announces study results.

The market is likely to see a flat opening on Monday amid mixed global cues. Analysts expect trading to remain low in the holiday curtailed week. Gift Nifty 22,600 indicates flat-to-negative beginning. Despite a strong recovery last week, analysts expect market move in a narrow range with stock specific action.

Flattish opening seen for Nifty, Sensex

Market likely to open flat amid global cues; analysts advise cautious approach, focus on stock selection, and monitor key events.

Nirlon: Promoter Shital Trading & Interiors disposed of 5,000 shares on Feb. 28. 

Thirumalai Chemicals: Promoter R Parthasarathy acquired 11,280 shares on Feb. 28. 

Shakti Pumps (India): Promoter Shakti Sons Trust acquired 10,000 shares on Feb. 28.

TD Power : Promoters bought 15,100 shares from the open market in February 2025. The stock is down 33% from its peak.

JSPL : Promoters bought 0.96% stake in the company in February 2025. As of December 2024, promoter holdings stood at 61.19%. The stock is down 21% from its recent high.

Maharashtra Seamless : Promoters have bought 0.5% stake, increasing their tally from the 68.07% stake they held at the end of the December quarter. The stock is down 37% from its recent high.

Quess Corp : Promoters of the company have been consistently increasing their stake in the company. From 51.9% in December 2022, to 56.75% in March 2023. The company recently announced further promoter buying, taking the total stake to 57.06%.

Snowman Logistics :Promoters Gateway Distriparks have made their intent clear to increase stake in the company, as they have done so over the last two years. From 40.25% in March 2023, the promoter stake in Snowman now stands at 50% at the end of the December quarter.

Fairchem Organics : Promoters acquired nearly 3% stake between the October-December quarter, taking their overall stake to 61.2% from 58.71% earlier.

Mangalam Cement : Promoters have increased their stake in to 38.07% currently from 36.94% at the end of the September quarter.

https://play.google.com/store/apps/details?id=com.intelegain.rb

Recent Interview...

As of 18:36 PM Friday 07 March 2025

Adani Wilmar Ltd: Angshu Mallick, CEO

Expect 3-4% Increase In Margin From Current 8% In Next 4-5 Years: Adani Wilmar | CNBC TV18

https://www.youtube.com/watch?v=GuIDc7MFxo4

Gensol Engineer: Anmol Jaggi, Managing Director

Promoters Will Soon Buy Shares From The Market Or Convert Warrants: Gensol Engineering Ltd

https://www.youtube.com/watch?v=l5BOF5s3X-c

HUDCO: Sanjay Kulshrestha, CMD

HUDCO Is Now An Infrastructure Financing Co But Has Been Careful In Financing Infra Projects

https://www.youtube.com/watch?v=Rkp6gD5v-iI

IRCTC: Sanjay Kumar Jain, CMD

Navratna Status Will Allow Company & The Board To Take Quicker Decisions: IRCTC | CNBC TV18

https://www.youtube.com/watch?v=YWOAfYWVT3Q

IRCTC: Sanjay Kumar Jain, CMD

IRCTC: Assessing The Mahakumbh Revenue Boost, Advance Booking Guidelines & More | Sanjay Kumar Jain

https://www.youtube.com/watch?v=L39LH28kS0Q

IRFC: Manoj Kumar Dubey, CMD & CEO

Navratna Status Is A Big Milestone; Gives Us Autonomy To Take Decisions Faster: IRFC | CNBC TV18

https://www.youtube.com/watch?v=AQ6gGpPRdpM

REC: Vivek Kumar Dewangan, CMD

Disbursements Will Increase By 18%-20% YoY In FY25: REC | CNBC TV18

https://www.youtube.com/watch?v=hS1XiGZsApk

Route Mobile: Gautam Badalia, CEO

Gautam Badalia, CEO, Route Mobile Details Big Plans For India’s Growing Digital Landscape

https://www.youtube.com/watch?v=vMOsHTpbWQg

Samhi Hotels: Ashish Jakhanwala, Chairman

Hotels Will Be A Direct Beneficiary As Aviation Capacity Increases: Samhi Hotels | CNBC TV18

https://www.youtube.com/watch?v=aWQ2gU-H-9Y

Senores Pharmac: Swapnil Shah, MD

CDMO Contribution Is Expected To Be At 35-40% In FY26: Senores Pharma | CNBC TV18

https://www.youtube.com/watch?v=TpAiNzWttls

Events today…

https://www.researchbytes.com/Default.aspx?cc=event

Results today…

https://www.researchbytes.com/Default.aspx?cc=result

Replays available at www.researchbytes.com

7 March 2025 (Rs. In Crs.)

Turnover: (NSE + BSE)

Cash Volume: 82344.2 + 4422.93 Total: 86767.13

F&O Volume: 11555448.55 + 5688734.56 Total: 17244183.11

Provisional Cash

FII/FPI: NET SELL: -2035.10 

(8,635.45- 10,670.55) 

DII: NET BUY: +2320.26 

(10,452.93 - 8,132.57)

Weekly snapshot: Indian equity indices closed in the green zone and breaks falling streak of three consecutive weeks amid recovery from broader markets.

Indices Performance: Nifty 50 Index closed with a gain of 1.93 percent while broader indices have outperformed as Nifty Midcap 100 closed with a gain of 2.66 percent while Nifty Small cap 100 close with a gain of 5.47 percent during the same duration.

Weekly Fund-flow Activities: FIIs have sold equities worth of Rs 15501.6 cr while DIIs have bought equities of Rs 20950.9 cr in cash segment during the week.

Macro Data: U.S. CPI inflation and Job opening data, Indian retail inflation and industrial production and Britain macro data are the major macro events for the upcoming week.

Weekly Outlook: Indian equities expected to remain focused on the trade and tariff related developments as deadline of metal tariffs scheduled to end on March 12. Also, the volatility from bond and commodity market would also important to consider during the next week.

U.S. Daylight Saving Time Shift

TENT Eurogroup Meetings

12.30 EURO German Industrial Production m/m (Expected: 1.6% versus Previous: -2.4%)

The stock of Zydus Lifesciences has been in a steady decline since August last year after facing resistance at ₹1,300. After witnessing some consolidation between ₹940 and ₹1,000 in December, it resumed the downtrend in January. 

Stock to sell today: Zydus Lifesciences (₹901.15)

Zydus Lifesciences stock faces resistance at ₹920 and ₹940, with a downtrend likely to continue despite recent recovery.

Nifty 50 and Sensex witnessed good recovery last week. That has given some relief for the indices after getting beaten down badly for three consecutive weeks. However, it is important to see if the benchmark indices are getting a strong follow-through rise from here or not. Also, key resistances are ahead which will have to be broken in order to completely negate the danger of falling back again.

Index Outlook: Indices Not Out Of The Woods Yet

Nifty 50, Sensex, and Nifty Bank show recovery, but key resistances must be broken to avoid further decline.