ELON MUSK HAS ORDERED ANOTHER ROUND OF JOB CUTS AT XAI – FT
IRAN GIVES APPROVAL TO INDIAN GOVERNMENT FOR TWO LIQUEFIED PETROLEUM TANKERS TO SAIL THROUGH STRAIT OF HORMUZ – SOURCES
INDIA GOVT OFFICIAL SAYS GOVT TAKING ACTION AGAINST PEOPLE INDULGING IN BLACK MARKETING, HOARDING OF LPG
Indian Stock Market Updates – March 13, 2026
Corporate Appointments & Changes
– Asian Granito India appoints Dibyendu Dey as CFO & KMP effective March 13; 28+ years experience in finance, no director relations.
– SRM Energy Tamilnadu writes off ₹2.23 Cr loan to SRM Energy Ltd, reducing debt positively.
– Kaynes Technology: CRISIL reaffirms A/Stable on ₹770 Cr loans, removes rating watch.
Banking & Ratings
– Union Bank of India: ICRA reaffirms AAA/Stable on infrastructure bonds, Basel III Tier-2, A1+ on CDs; CET-1 at 13.94%.
Contracts & Projects
– A B Infrabuild receives ₹66.96 Cr LOA for road over bridge construction.
– Seamec secures ₹410.74 Cr ONGC contract for O&M of MSV Samudra Sevak.
– GMR Airports wins Cargo Terminal 1 concession at Delhi Airport till 2036; est. ₹340 Cr revenue Year 1.
– JK Lakshmi Cement declared preferred bidder for 200-hectare Umrangsso limestone block.
– Deep Industries MoU with Advait Greenergy for joint green hydrogen bids and execution.
– Ravindra Energy issues ₹296 Cr corporate guarantee to YES Bank for associate Energy In Motion.
Regulatory & Govt News
– SEBI circular: MFs can use intraday borrowings for repurchases/redemptions, interest payouts; capped at same-day receivables from govt/RBI/clearing corp.
– Coal India asked to ensure coal supply to restaurants, hotels, hospitality sector.
– Oil tanker Jag Prakash (gasoline for Africa) moved out east of Hormuz Strait.
– Govt expects $25 Mn nod for ISA’s Africa Solar Facility, leveraging World Bank/Nigeria funds.
Company Statements
– Maruti Suzuki to CNBC-TV18: Operations as planned despite energy supply challenges; monitoring dynamic situation.
Forex & Macro
– Forex reserves drop $11.7 Bn to $716.8 Bn (week to March 6); sharpest since Nov 2024; FCA down $9.88 Bn to $563.25 Bn.
Regulatory Actions
– Ajanta Soya: Customs imposes ₹31 lakh redemption fine + ₹2.7 lakh penalty on MEIS scrip; plans CESTAT appeal, no material impact.
Geopolitical
– Trump: Will hit Iran hard next week, provide Hormuz escorts if needed; mixed signals on Iran surrender.
Sector Alerts
– LPG crisis: Zomato/Swiggy revenue may hit 3% quarterly if lasts a week, per analysts.
IndiGo introduces ‘Fuel Charge’ from 14 March 2026
Within Domestic India – Rs 425
Indian Subcontinent – Rs 425
Middle East – Rs 900
South East Asia and China – Rs 1800
Africa and West Asia – Rs 1800
Europe 2300
One-third of listed stocks down over 50% from peak as market rout intensifies
Goa civic polls: BJP-backed panel WINS 27 of 30 seats in Panaji Municipal Corporation.
Panaji Municipal Corporation (30/30):
— BJP: 27 🪷
— Utpal Parrikar: 03
=> Utpal Parrikar, son of late Manohar Parrikar, contested with the Ami Panjekar panel BACKED by Congress & AAP.
ADOBE SAYS
Adobe CEO Shantanu Narayen will step down after 18 years as CEO once a successor is appointed
Narayen will continue as Chair of the Board after the transition
The Board of Directors has started a CEO succession process
Frank Calderoni will lead the special committee overseeing the search
The committee will consider both internal and external candidates
Narayen will remain CEO during the transition to ensure continuity
GOLDMAN RAISES INDIA 2026 INFLATION FORECAST TO 4.2% FROM 3.9%
BRITANNIA – CLARIFIES NO IMPACT FROM INDUSTRIAL GAS SUPPLY CONCERNS
• Operations Unaffected: Company confirms no significant disruption at manufacturing facilities due to industrial gas supply issues.
• Adequate Inventory: Sufficient finished goods available across supply chain to meet market demand.
• Fuel Flexibility: Plants can switch between LPG, PNG, biomass and other fuels if required.
• Monitoring Situation: Management will continue to closely track developments to ensure operational continuity.
• Impact: Positive
Flipkart and Amazon Rapidly Expand Quick Commerce Networks
Flipkart and Amazon are aggressively expanding their quick-commerce operations by increasing the number of dark stores across India.
Flipkart Minutes Expansion:
• Flipkart’s quick-commerce platform Minutes, launched in August 2024, is adding ~100 dark stores every month.
• Targeting a network of ~1,200 dark stores.
• Currently operating in ~70 cities, with plans to expand to 220–250 cities by June.
• Each dark store processes ~1,000–1,100 orders per day.
• Order volumes growing ~16–18% month-on-month.
Amazon Now Expansion:
• Amazon Now is also scaling rapidly.
• Targeting ~500 dark stores with accelerated expansion since December.
Competitive Landscape:
• Rivals Swiggy (Instamart) and Zepto are slowing store expansion to focus on profitability.
Category Drivers:
• Quick-commerce growth increasingly driven by grocery and FMCG categories.
Industry Context:
• Expansion comes as Flipkart prepares for a potential IPO, while competition intensifies in India’s 10-minute delivery market.
#StockInNews | Tata Motors CV wins pan-India orders of over 5,000 buses
#StockMarket
NSE IPO Update – Intermediaries Appointed
The National Stock Exchange of India (NSE) has completed the selection of intermediaries for its proposed Initial Public Offering (IPO).
The process was conducted through a structured, transparent and competitive framework approved by the NSE IPO Committee.
Merchant Bankers (20):
• Kotak Mahindra Capital Company Limited
• JM Financial Limited
• Axis Capital Limited
• IIFL Capital Services Limited
• Motilal Oswal Investment Advisors Limited
• ICICI Securities Limited
• SBI Capital Markets Limited
• Nuvama Wealth Management Limited
• HDFC Bank Limited
• Avendus Capital Private Limited
• Morgan Stanley India Company Private Limited
• Citigroup Global Markets India Private Limited
• J.P. Morgan India Private Limited
• HSBC Securities and Capital Markets (India) Private Limited
• IDBI Capital Markets & Securities Limited
• 360 ONE WAM Limited
• Anand Rathi Advisors Limited
• DAM Capital Advisors Limited
• Pantomath Capital Advisors Private Limited
• Equirus Capital Private Limited
Law Firms (8):
• Cyril Amarchand Mangaldas
• Khaitan & Co
• Latham & Watkins LLP
• Sidley Austin Singapore Pte. Ltd.
• AZB & Partners
• S&R Associates
• Shardul Amarchand Mangaldas & Co
• Trilegal
Other Intermediaries:
• MUFG Intime India Private Limited
• Makarand M Joshi & Company
• Manian & Rao
• RBSA Advisors
• Concept Communication Ltd
• Redseer Strategy Consultants Pvt Ltd
These intermediaries will assist NSE in regulatory filings, due diligence, documentation, marketing and execution of the IPO.
With this milestone completed, Rothschild & Co India Private Limited has concluded its role as process advisor for selecting and appointing NSE’s IPO intermediaries.
Takeaway:
Another important step completed in the long-awaited NSE IPO journey.
U.S AMBASSADOR says
US Expanding India Cooperation On Sea, Land, Cybersecurity
US-India Moving To Critical Stage Of Finalising Critical Minerals Agmt
#RupeeCheck | Rupee hits record low of 92.43 against US dollar, weakens further by 24 paise
AI Boom Drives $700 Billion Surge in Data Center Lease Commitments
– Microsoft and Meta Platforms have each committed nearly $50 billion in new data center leases in recent quarters to expand AI infrastructure.
– These massive deals have pushed total future lease obligations of major cloud firms beyond $700 billion.
– Other key players — including Amazon and Oracle — are also ramping up investments, fueling fierce competition in cloud and AI computing capacity.
– Microsoft leads with about $155 billion in future lease commitments, followed by Meta at $104 billion.
– Most leases cover data centers and server farms, though some include associated office and warehouse facilities.
– The surge underscores the enormous capital intensity required for AI-driven data processing and cloud infrastructure.
– Industry leaders caution that server farm and compute capacity shortages are emerging as major constraints amid the AI acceleration wave.
Key Takeaway: The AI boom is triggering record data center leasing by tech giants, marking a new phase of infrastructure competition and capital expansion.
#NewsAlert | Bombay High Court’s Nagpur bench seeks the Centre’s response on allegations that LPG exports were prioritised over domestic supply amid the ongoing shortage
#BombayHighCourt #LPGCrisis #EnergyCrisis #LPGSupply #PetroleumSector
#AutoSales | February #SIAM Data
🚗Passenger Vehicle Sales At 4.17 Lk Units, Up 10.6% YoY
🚗Total Vehicle Sales At 17.7 Lk Units, Up 30% YoY
🏍️2-wheeler Sales At 18.7 Lk Units, Up 35% YoY
#DMA Avenue Supermarts gains 1.25% after opening two new stores in Bavdhan, Pune (Maharashtra) and Chilakaluripeta, Palnadu (Andhra Pradesh), taking its total store count to 463.
Tesla officially announced the larger Model Y L is coming to Australia and New Zealand.
#StockInNews | Zydus Lifesciences gets final approval from US FDA for Cevimeline Hydrochloride Capsules 30 mg
#ZYDUSLIFE #StockMarket
WHAT HAPPENED OVERNIGHT
-> SPX -1.5%, Nasdaq -1.78%, Russell 2000 -2.06
-> Brent Oil +9.9% to $101.05
-> UST 10y yield increased 3 bps to 4.26%
-> Adobe -6% after reporting earnings post close
-> Banks fell on private credit concerns again
-> MS & Cliffwater cap withdrawals due to redemptions
-> Iran’s new leader: Will keep Strait of Hormuz closed
-> Bessent: Navy to escort vessels “as soon as possible”
-> Iran’s new leader: Will open other fronts in war if..
-> Trump again demanded Fed Powell to cut rates
Laurus Labs In Focus – Big Fall In Export Data
Export data falls 47% YoY to $36 million in February 2026
Rupee Opens At 92.35/$ Vs Thursday’s Close Of 92.19/$
*Frontier Springs Ltd* Ex-Date Today, Bonus issue 2:1 (Neutral)
*Hindusthan Urban Infrastructure Ltd* Ex-Date Today, Stock Split From Rs.10/- to Rs.2/- (Neutral)
*IRFC Ltd* Ex-Date Today, Interim Dividend – Rs. – 1.05 (Neutral)
*RailTel Ltd* Ex-Date Today, Interim Dividend – Rs. – 1.00 (Neutral)
*Toss The Coin Ltd* Ex-Date Today, Interim Dividend – Rs. – 5.00 (Neutral)
*Balaji Amines:* Middle East war disrupts global supply chains (Negative)
*Gandhar Oil Refinery (India):* Company highlights geo-political challenges: rising base oil prices, forex depreciation, freight hikes, potential UAE impact. Company has ability to pass on price increase to its customers (Negative)
*Zee Learn:* Company subsidiary Librium Global Resources sees key clients exit; material impact on operations expected (Negative)
*Stocks in News*
*Action Construction Equipment:* Company executes a joint‑venture agreement with Kato Works. (Positive)
*Biocon:* Company’s arm, Biocon Pharma, receives US FDA approval for liraglutide injection used for treating Type‑2 diabetes mellitus. (Positive)
*Godrej Prop:* Company acquires 44-acre land in Coimbatore with an estimated revenue potential of ₹450 cr (Positive)
*Acme Solar:* Company’s arm commissions 2nd phase of battery energy storage system project (Positive)
*Kalpataru:* Company signs redevelopment project in Andheri West with ₹1,400 cr GDV potential (Positive)
*JK Lakshmi Cement:* Company has been declared the Preferred Bidder for the Juipahar New Umrangso Limestone Block (A and B) in Assam. (Positive)
*Avanti Feeds:* Company says Kotak Mahindra Mutual Fund acquires over 5% stake (Positive)
*Gravita India:* Company to acquire Rashtriya Metal Industries for Rs 559 cr (Positive)
*Shaily engineering:* Smallcap world fund inc bought 9.11 lakh shares for an average rate of Rs. 1,879 per share. (Positive)
*Arkade developers:* Amit Mangilal Jain bought 1 lakh shares. (Positive)
*NCC:* Sirisha projects bought 1.14 lakh shares. (Positive)
*Tourism finance corp:* Unity associates sold 23.78 lakh shares for Rs. 65.38 per share. (Neutral)
*Indigrid infrastructure trust:* Neo real asset yield fund bought, and Sankhya financial services sold 15.43 lakh shares for Rs. 162.68 per share. (Neutral)
*Max Financial Services:* Company approves fund raising via equity shares up to ₹2,000 cr (Neutral)
*Manorama Industries:* Company board approves fundraising plan of up to Rs 500 crore (Neutral)
*ONGC:* Arabian Petroleum secures Rs 20.55 crore lubricants supply order from the company (Neutral)
*DCM Shriram:* Company board approves Rs 87 crore investment, Rs 130 crore capex for renewable power project at Bharuch plant. (Neutral)
*Sigma Advanced Systems:* Company completes $15 million extrovis divestment as it sharpens aerospace and defence focus (Neutral)
*Fino Payments Bank:* Bank to appeal in Karnataka High Court after Bengaluru Court rejects plea to remove Rs 11.92 crore CID lien linked to investigation. (Neutral)
*Avenue Supermarts:* Company has opened 2 new stores in Bavdhan, Pune & Chilakaluripeta, Palnadu. This expansion brings the total store count to 463. (Neutral)
*Shriram Finance:* Subsidiary Applies for RBI Primary Dealer License. (Neutral)
*Sri Lotus:* New wholly owned subsidiary ‘Sri Lotus Elegancia Realty Private Limited’ incorporated on March 12, 2026. (Neutral)
*DCM Shriram:* Board approves capital expenditure up to ₹130 Cr for infra development. (Neutral)
*AGI Infra:* Company invests Rs 12 crore in Worldnext Realty, acquires 60% stake (Neutral)
*Sigma Advanced Systems:* Company completes Rs 137.61 crore sale of Extrovis AG stake. (Neutral)
*Orient Ceratech:* CareEdge Ratings has reaffirmed the credit ratings for Orient Ceratech Limited’s bank facilities. (Neutral)
*Tata Steel:* Company has filed a Writ Petition with the Jharkhand High Court challenging an order dated Dec 18, 2025, from the Commissioner of CGST & Central Excise, Jamshedpur. (Neutral)
*Samvardhana Motherson:* Company will hold a Board Meeting on March 19, 2026, to consider declaring an interim dividend for FY26. (Neutral)
*Deep Industries:* Board approved amendments to its Memorandum of Association to add green energy as a new business vertical (Neutral)
*Power Grid:* Company buys NES Pune East New Transmission for aggregate value of ₹8.05 cr (Neutral)
*JNK India:* Company appoints Anand Agarwal as Interim Chief Financial Officer. (Neutral)
*Adani Energy Solutions:* Company’s arm, Adani Transmission Step One, which has USD 500 million senior secured notes due July 2026. (Neutral)
List of stocks included in the short term ASM Framework: FACT (Neutral)
Circuit filter change from 10% to 5%: Jindal Poly. (Neutral)
Circuit filter change from 20% to 10%: Mahamaya steel. (Neutral)
Forthcoming Event
13th March: BANCOINDIA, MIDHANI to consider Dividend; KRN Heat Exchanger and Refrigeration, Repco Home Finance to consider Fund Raising
14th March: MSP Steel & Power to consider Fund Raising
16th March: BLIL, RECLTD to consider Dividend; Satin Creditcare Network to consider Fund Raising; Patel Integrated Logistics to consider Voluntary Delisting
17th March: INDIAGLYCO to consider Dividend; Power Finance Corporation to consider Dividend & Fund Raising; Five-Star Business Finance, Vardhman Polytex to consider Fund Raising; Lotus Eye Hospital and Institute to consider Voluntary Delisting
18th March: City Pulse Multiventures to consider Bonus issue & Stock Split; CSL Finance to consider Fund Raising
19th March: Indian Renewable Energy Development Agency to consider Fund Raising
23rd March: Biogen Pharmachem Industries to consider Bonus issue
Corporate Actions
Jagsonpal Pharmaceuticals approved a proposal to buyback up to 16,00,000 equity shares represents 2.4% of the total equity shares for an aggregate amount not exceeding ₹ 40 crores at buyback price of ₹250/- per Equity Share through Tender Offer method, subject to shareholders approval.
Dividend
13-Mar-26
IRFC: Interim Dividend – Rs. – 1.05
RAILTEL: Interim Dividend – Rs. – 1.00
TTC: Interim Dividend – Rs. – 5.00
16-Mar-26
DICIND: Final Dividend – Rs. – 3.00
IPO
Raajmarg Infra Investment Trust: Open: 11-Mar-26; Close: 13-Mar-26
Innovision: Open: 10-Mar-26; Close: 17-Mar-26
GSP Crop Science: Open: 16-Mar-26; Close: 18-Mar-26
Buyback
Puretrop Fruits: Ex-Date: 10-Apr-26
Bonus Issue
eClerx Services: Bonus Issue 1:1; Ex-Date: 13-Mar-26
Frontier Springs: Bonus Issue 2:1; Ex-Date: 13-Mar-26
RM Drip and Sprinklers System: Bonus Issue 5:7; Ex-Date: 07-Apr-26
Stock Split
Hindusthan Urban Infra.: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 13-Mar-26
PVV Infra: Stock Split From Rs. 5/- to Rs. 1/-; Ex-Date: 27-Mar-26
Right Issue
5paisa Capital: Ex-Date: 17-Mar-26
Onelife Capital Advisors: Open: 23-Feb-26; Close: 16-Mar-26
AVI Polymers: Open: 23-Feb-26; Close: 17-Mar-26
Bhandari Hosiery Exports: Open: 06-Mar-26; Close: 20-Mar-26
Enbee Trade & Finance: Open: 12-Mar-26; Close: 20-Mar-26
Healthcare Global Enterprises: Open: 11-Mar-26; Close: 25-Mar-26
BCC Fuba India: Open: 19-Mar-26; Close: 27-Mar-26
Prabha Energy: Open: 20-Mar-26; Close: 27-Mar-26
Supra Pacific Financial Services: Open: 20-Mar-26; Close: 27-Mar-26
5paisa Capital: Open: 27-Mar-26; Close: 10-Apr-26
SIMPLEX CASTINGS
CO RECEIVED AN ORDER WORTH RS 7.26 CR. FROM BHARAT HEAVY ELECTRICALS
CO MARKET CAP IS RS 337CR AND ORDER BOOK IS +RS 100CR
RDSO APPROVAL FROM RAILWAY SEGMENT IS A KEY TRIGGER COMPANY MENTIONED IN CONCALL
MORGAN STANLEY ON ASIAN CHEMICALS
Investor interest rising across chemical equities
Strong interest in PE Butadiene PVC Urea chains
Petronas Chemicals and PTTGC seeing highest investor interest
Rising hedge fund interest in gas pipelines and midstream
Petronet LNG and Keppel seeing stronger investor attention
GAIL and city gas players seeing limited investor
Strategic petroleum releases raising investor concerns
Policy risks making investors selective on refiners retailers
HFCL: CO SIGNS 5-YEAR OFC SUPPLY DEAL WOH USD 1.1B (RUPEES 10,159 CR) WITH GLOBAL CUSTOMER
#WestAsiaWar | Secretary of the Supreme National Security Council of #Iran tweets, #Trump says he is looking for a speedy victory. While starting a war is easy, it cannot be won with a few tweets
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