IndianOil chairman Arvinder Singh Sahney stated that recent US sanctions on Russian oil exports will not impact India's energy security. India diversifies its crude procurement from multiple sources such as the Gulf, Africa, and the Americas. Additionally, new suppliers like Brazil and Guyana are emerging, ensuring supply stability. IndianOil posted a 64% drop in net profit in the recent quarter.
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US stocks dropped significantly after President Trump announced tariffs on Canada and Mexico. The S&P 500, Dow Jones, and Nasdaq saw big falls amid concerns over economic growth and trade tensions. Certain sectors were hit hard, including Nvidia, Tesla, and Kroger. Investors are wary of economic uncertainties as future Federal Reserve actions remain in focus.
A Sebi committee has declined a settlement offer from Zee Entertainment, former chairman Subhash Chandra, and former MD Punit Goenka regarding listing norm violations. Instead, Sebi's adjudicating officer must incorporate new findings from the investigation and issue a fresh show cause notice.
Ankura Hospitals, a Hyderabad-based healthcare provider, has secured funding of Rs 165 crore from the Asian Development Bank to support its expansion plans. The strategic investment will enhance its facilities and healthcare services across India, particularly in pediatric, maternity, and gynecology care. Ankura currently operates over 1500 beds across 14 hospitals in multiple states.
Hindenburg Research, known as a corporate muckraker, is shutting down after completing its investigations. Major cases include the Adani Group and Nikola Corporation.
Entities not needing GST registration but required to make tax payments can now obtain a Temporary Identification Number (TIN). This amendment, by the Central Board of Indirect Taxes and Customs, aids in smooth tax payments and reduces compliance burden. GST registration is typically mandated for businesses with specific annual turnovers in manufacturing and services sectors.
Six leading firms among the top-10 most valued companies collectively gained Rs 86,847.88 crore in market value last week, with HDFC Bank and Reliance Industries leading the gains. The BSE and Nifty both saw modest increases. Meanwhile, four companies, including TCS and Infosys, faced declines in their market valuations.
Moody's indicates that most Indian companies are shielded from rupee depreciation because of mitigating factors, whereas govt-owned oil marketing companies, Ola, and UltraTech Cement are adversely affected. OMCs experience a currency mismatch with rupee-linked marketing revenues and US dollar feedstock costs, which are partially offset by US dollar-linked fuel sales and government support.
RBI's decision to infuse ₹1.5 lakh crore liquidity boosted banking stocks, leading to a sensex rise of 530 points. Despite a late sell-off, major banks led gains, while foreign funds continued selling. Mid- and small-cap sectors saw declines. Upcoming events, such as the US FOMC meeting and Union Budget, are expected to contribute to market volatility.
India’s IT sector is projected to grow by 5.1% in FY25, with revenues expected to reach $282.6 billion, according to Nasscom. The sector aims to surpass $300 billion in the following fiscal year. Additionally, 1.26 lakh new jobs were added, bringing total employment to 58 lakh.
March is historically the best time for Indian stock market returns, and a similar trend is expected this month. Nifty and other indices have shown positive average returns in March over the last decade, barring 2020. Analysts suggest that current market dynamics and financial stock performance support a potential rebound in the stock market.