Joe Kent, Director of the U.S. National Counterterrorism Center (NCTC), resigned on March 17, 2026.
In his resignation letter, he did say:
Iran posed “no imminent threat” to the U.S.
The war decision was influenced by “pressure from Israel and its powerful American lobby”
FINANCE MINISTER NIRMALA SITHARAMAN SAYS, INDIA’S DOMESTIC LPG SUPPLIES TO REMAIN STEADY
Israel Defence Minister Says Iran’s Security Chief Ali Larijani Is Eliminated
RIL-SAMSUNG C&T $3B GREEN AMMONIA DEAL
Deal Highlights
– Reliance Industries signs $3 Bn agreement with Samsung C&T.
– 15-year supply pact – one of largest green fuel deals globally.
– Supplies start FY29 second half.
Product & Uses
– Green ammonia produced via renewable energy.
– Applications: fertilisers, industrial fuel, shipping.
Strategic Importance
– Supports Reliance’s new energy platform scale-up.
– Aligns with India’s clean energy self-reliance.
– Includes domestic manufacturing of solar, batteries, electrolysers.
Global Ambition
– Builds global-scale green H2/ammonia ecosystem.
– Partnership enhances cost competitiveness internationally.
Key Takeaway: RIL secures long-term green revenue while positioning India as clean energy exporter.
RELIANCE LINES UP BANKS FOR JIO IPO
Bankers Appointed
– Bank of America, Citi, Goldman Sachs, JPMorgan.
– Kotak Mahindra, Morgan Stanley advising Jio Platforms IPO.
IPO Scale
– Potentially India’s largest-ever public issue.
– First major Reliance IPO in nearly two decades.
– Expected to raise minimum $4.3 Bn.
Valuation & Timeline
– Banks valued Jio at ~$170 Bn.
– Draft papers filing soon; preparations accelerating.
Regulatory Enabler
– Changes allow minimum 2.5% stake dilution.
Strategic Context
– Strong interest from Jio’s telecom/digital ecosystem dominance.
– Key part of Reliance’s value unlocking.
Market Impact
– Shapes up as landmark deal for Indian capital markets.
Key Takeaway: Jio IPO positions RIL for massive value creation in telecom/digital powerhouse.
SEBI CLEARS 3 IPOS – 3 WITHDRAWN
Approved IPOs
– Travelstack Tech (travel tech).
– Learnfluence Education (Lakshya) (edtech).
– Tea Post (QSR tea chain).
– Filed earlier; cleared in March.
Withdrawn Papers
– Rays Power Infra.
– Madhur Iron & Steel.
– Arjun Jewellers.
Market Context
– Volatile conditions from West Asia conflict.
– Approvals continue but timing-sensitive.
Trend Insight
– Niche/stronger businesses advancing.
– Others pausing amid uncertainty.
Key Takeaway: Mixed signals highlight selective IPO momentum in choppy markets.
OBEROI REALTY
CO SIGNS DEVELOPMENT AGREEMENT WITH MAHARASHTRA HOUSING AND AREA DEVELOPMENT AUTHORITY FOR VERSOVA, ANDHERI (W) LAND; EXPECTS ~17.18 LAKH SQ FT FREE-SALE AREA FROM PROJECT
Indian Economy & Markets | March 16 Headlines
Auto Sales Surge
Passenger vehicle dispatches up 10.6% YoY to 4.18L units in Feb—strong domestic demand.
Trade Boost
Piyush Goyal pushes India-EFTA deal: ₹9.24L Cr ($100B) investment, 1M jobs potential.
Agri Exports
Assam’s GI Joha rice reaches UK/Italy—first export milestone.
Digital Growth
Data centres: 375 MW (2020) → 1,500 MW (2025) on AI demand.
Telecom Win
HFCL bags $1.1B global optical fibre contract.
Aviation Infra
Akasa Air MRO facility at Noida Airport.
MF Flows
SIP inflows +14.8% YoY to ₹29,845 Cr despite volatility.
Metals Dip
Gold/Silver ETFs -6% on crude, rate hopes fade.
Labour Resilience
Unemployment falls to 4.9% in Feb.
Macro Pressures
– Trade deficit: $27.1B
– WPI inflation: 2.13% (1-yr high)
– 10Y G-Sec: ~6.7%
– Rupee: 92.45/$
Market Rebound
Equities recover led by financials (HDFC Bank, Bajaj duo) & cyclicals (UltraTech, M&M).
Brokerage Sector Highlights
FMCG
– Nuvama Buy Marico TP Rs 900
– Value-add hair oil growth
– Copra down 35% from peak
EV/Auto
– Nomura: Panel pushes EV incentives
– Beneficiaries: Ather, Sona Comstar, M&M, Tata Motors, TVS
Metals/Power
– MOSL Buy Hindalco TP Rs 1110
– Demand: Renewables/infra/EV/packaging
– HSBC: Steel +5-7%, Al premiums >$200/T
Power
– Jefferies: Feb demand +1% YoY
– Picks: JSW Energy, NTPC
Cables/Infra
– Jefferies Buy Finolex Cables TP Rs 1025
– Wires +28% YoY; data center/BharatNet triggers
– Jefferies Buy JSW Infra TP Rs 360 (EBITDA x2 FY26-28)
Cement
– JPM: Weak demand, limited hikes
– GS picks: Buy UltraTech; Sell ACC
Paints
– Macquarie: 2-3% hikes (Berger/Nerolac)
– GS Outperform Asian Paints TP Rs 3100
Tata Motors
– HSBC Hold TP Rs 340 (JLR risks)
Key Takeaway
Metals/power/infra lead amid geo tensions
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