Indian Renewable Energy Development Agency (IREDA), a key government-owned green finance NBFC, saw its stock surge for the second straight session on March 24, gaining 8.4% to reach ₹167.90. This marks its highest level in 3 weeks, driven by strong trading volumes.

Strong Weekly Gains and Fundraising Efforts

IREDA share price rose nearly 11% last week, recording its biggest weekly gain of 2025 so far. The rally comes after the company launched its first-ever perpetual bonds to raise ₹1,247 crore at an annual interest rate of 8.40%. This move aims to strengthen its capital structure while taking advantage of favourable market conditions.

Income Tax Refund and Pending Dues

The company also received a partial tax refund of ₹24.48 crore from the Income Tax Department for the assessment year 2011-12. Additionally, IREDA expects a further refund of around ₹195 crore for multiple assessment years, which is still being processed.

Board Meeting on Borrowing Plans

IREDA informed the stock exchange that its board will meet on March 25, 2025, to discuss its borrowing plans for the financial year 2025-26.

Stock Recovers But Still Far From Peak

After a sharp decline over the past 7 months, IREDA’s shares have rebounded by 21% in March. However, they remain 46% below their peak of ₹310. The stock had surged nearly 10 times from its IPO price of ₹32 to ₹310 in July 2024, but high valuations, regulatory hurdles, and weak earnings led to a correction.

Challenges Affecting Stock Performance

Several factors contributed to the stock’s decline:

• RBI Restrictions: RBI rejected IREDA’s request to invest in the 900 MW Upper Karnali Hydroelectric Power Project in Nepal.
• Weak Q3 Financials: The company’s poor December quarter results impacted investor confidence.
• Gensol Engineering Exposure: Investors are concerned about IREDA’s financial exposure to Gensol Engineering, a solar plant construction firm.
• Renewable Energy Sector Concerns: The broader renewable energy industry has faced challenges in early 2025, including worries about potential U.S. tariffs under President Donald Trump’s administration.

About IREDA

Established in 1987, IREDA is a non-banking financial company (NBFC) focused on providing financial solutions for renewable energy projects, energy efficiency, and environmental sustainability. It operates under the Ministry of New and Renewable Energy (MNRE) and is wholly owned by the Government of India.

Conclusion

While IREDA’s stock is recovering, it remains well below its peak due to regulatory hurdles and weak financials. Investors will watch the upcoming board meeting for future growth plans.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

The Indian stock market has been witnessing a strong rally over the past 6 consecutive sessions, with key indices making significant gains. On Monday, Nifty 50 opened in the green at 23,515 and quickly surged to an intraday high of 23,638. This marked an overall gain of 1,241 points or over 5.50% in the last six trading sessions.

Similarly, the BSE Sensex opened at 77,456 and reached a high of 77,874 within a few minutes of trading. In the last 6 sessions, Sensex recorded a gain of 4,046 points or 5.45%.

The banking sector also experienced strong buying momentum, with the Bank Nifty index opening at 50,982 and touching an intraday high of 51,769. Over the past 6 sessions, Bank Nifty has surged by 3,709 points, marking an impressive 7.70% gain.

Broader market indices outperformed the benchmark indices. The BSE Small-cap index surged by over 9.60%, while the BSE Mid-cap index gained more than 8.30% over the last six trading sessions.

As of 11:25 AM on Monday, 488 BSE-listed stocks had hit their circuit limits, with 297 stocks reaching the upper circuit and 191 stocks hitting the lower circuit. Additionally, 75 stocks touched their 52-week high, while 79 stocks hit their 52-week low.

Why Is the Indian Stock Market Rising?

Stock market experts have attributed the recent market rally to several key factors, including expectations of an RBI rate cut, improved Q4 2025 earnings outlook, stability in the Indian rupee, increased buying by both domestic and foreign institutional investors, and a strong economic outlook for India.

Top 5 Reasons Behind the Market Rally

1. Strong Q4 2025 Results Expected

Market analysts believe that the Indian economy is on a recovery path, which is expected to reflect in the upcoming Q4 2025 financial results.

Fitch Ratings has projected a rise in capital spending over the next 2 financial years (FY26 and FY27), which is expected to support economic expansion.

India’s GDP growth slowed to 5.4% in the July–September 2024 quarter but rebounded to 6.2% in the October–December 2024 quarter. This recovery trend has fueled expectations of strong Q4 results in 2025, boosting investor confidence.

2. RBI Rate Cut Buzz

After last week’s US Federal Reserve meeting, there is growing speculation that the Reserve Bank of India (RBI) will cut interest rates in its April 2025 policy review. The market is anticipating a rate cut, as lower interest rates would lead to increased liquidity, encouraging more investments.

Morgan Stanley has revised its projections and now expects the RBI to implement a cumulative 75 basis points (bps) rate cut, up from the previously estimated 50 bps reduction. The expectation of lower interest rates has strengthened investor sentiment, driving stock market gains.

3. Attractive Stock Valuations Encouraging Buying

Another significant reason for the market’s upward movement is the availability of high-quality stocks at attractive valuations.

Due to the recent market corrections, investors—both domestic institutional investors (DIIs) and foreign institutional investors (FIIs)—have been engaging in bottom-fishing.

DIIs have been net buyers in the cash segment, purchasing shares worth ₹30,788.19 crore last week. Although FIIs were net sellers earlier, they have now started buying again. Last week, FIIs purchased Indian shares worth ₹5,819.12 crore in the cash market.

4. Positive Economic Outlook for India

A recent report by Morgan Stanley has projected that India will become the world’s third-largest economy by 2028.

The report states that India’s GDP is expected to grow from $3.5 trillion to $4.7 trillion by 2026, making it the fourth-largest economy, behind the US, China, and Germany. By 2028, India is expected to surpass Germany and claim the third position.

Morgan Stanley also highlighted that declining inflation, primarily due to lower food prices, has created room for further rate cuts. It expects India’s consumer price index (CPI) inflation to average 4% in FY26, down from its previous forecast of 4.3%.

For the January–March 2025 quarter, CPI inflation is expected to average 4%, compared to the earlier estimate of 4.5%. Since the RBI targets a CPI range of 2-6%, this trend provides ample space for monetary policy easing, further supporting market optimism.

5. Stable Indian Rupee Boosting FIIs’ Confidence

A stable Indian rupee has played a crucial role in attracting foreign institutional investors back into the Indian stock market.

As the rupee stabilises, FIIs have started increasing their exposure to Indian stocks. Additionally, recent RBI policy measures, including a 25 bps rate cut, have further supported foreign investment inflows.

Stock Market Outlook

Despite the ongoing rally, market experts advise caution as certain global events could impact investor sentiment.

External factors such as the upcoming US tariff policy announcement on April 2 could influence global markets. As Indian markets resume trading on April 3, investors are advised to carefully analyse the situation before making major investment decisions.

Conclusion

The Indian stock market’s rally is fueled by expectations of a rate cut, strong economic indicators, and FII inflows. While the trend remains positive, investors should stay cautious of global risks and potential profit-booking.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Kotak Mahindra Bank share price jumped over 4% on Monday, reaching a 52-week high. This surge followed the bank’s announcement of leadership changes after a board meeting on Saturday.

New Leadership Appointments

The bank appointed Bhavnish Lathia as its new Chief Technology Officer (CTO) and Vyomesh Kapasi as a Group Management Council member. Both will officially take charge on March 22, 2025 and will be part of the bank’s senior management.

Lathia has been leading Customer Experience and Technology for the Consumer Bank since August 2022, while Kapasi has been handling Products in the Consumer Banking division since February 2025.

Additional Senior Management Changes

Kotak Mahindra Bank also appointed 6 more officials to senior management roles:

• Pranav Mishra – Head of Consumer Bank Distribution
• Phani Shankar – Chief Credit Officer
• SK Honnesh – Group General Counsel
• Anupam Kaura – Chief Human Resources Officer
• Rohit Bhasin – Chief Marketing Officer
• Rajiv Mohan – Treasurer

RBI Lifts IT Restrictions

Last month, the RBI lifted restrictions on Kotak Mahindra Bank regarding new credit card issuance and digital customer onboarding. These restrictions were in place for 10 months due to IT infrastructure issues.

About Kotak Mahindra Bank Limited

Kotak Mahindra Bank Limited is a Mumbai-based financial institution that provides a range of banking and financial services. It caters to both corporate and retail clients, offering personal finance, investment banking, life insurance, and wealth management solutions.

Kotak Mahindra Bank share price rose by 4.50% today to ₹2,172.50 as of 11:55 AM IST, reaching a 52-week high of ₹2,176.35. Over the past 5 days, the stock has gained 8.90%, while it has surged 10.52% in the last month and 13.49% over 6 months. In the past year, the stock has climbed 23.88%, reflecting strong investor confidence. The bank has a market capitalisation of ₹4.32 lakh crore, a P/E ratio of 19.17, and a dividend yield of 0.092%.

Conclusion

Kotak Mahindra Bank’s leadership reshuffle and RBI’s lifted restrictions have boosted investor confidence. 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Larsen & Toubro (L&T) shares gained nearly 3% on Monday after the company’s board approved a plan to raise ₹12,000 crore through various debt-based instruments. The stock reached an intraday high of ₹3,517 before settling at ₹3,490.45, up 2.18%. In comparison, the Nifty 50 index was up 0.54% at 9:45 AM.

Stock Performance and Market Cap

L&T share price has been on an upward trend, gaining 10% in the last 5 sessions. However, the stock fell 3.49% in 2024, while the Nifty 50 declined by 0.7%. As per BSE data, the company’s market capitalisation stands at ₹4.78 trillion, reflecting its strong position in the engineering and construction sector.

₹12,000 Crore Fundraising Plan

The company’s board approved long-term borrowings of up to ₹12,000 crore through instruments such as external commercial borrowings, term loans, and non-convertible debentures. This move is expected to strengthen L&T’s financial position and support future expansion.

Leadership Appointment

L&T also announced the appointment of Subramanian Sarma, who currently serves as a whole-time director and president of the energy division, as the company’s new deputy managing director and president. His tenure will begin on April 2, 2025, and will continue until February 2028.

New Large-Scale Order Wins

Last week, L&T’s Buildings & Factories (B&F) vertical secured a significant contract worth between ₹2,500 crore and ₹5,000 crore from Brigade Group. The project involves constructing residential and commercial towers in Hyderabad and Chennai. The company stated this is the largest residential project it has ever received from a private client.

Financial Performance and Record Order Book

L&T reported a 14% rise in net profit for the October-December 2024 quarter, though it fell short of market expectations. The company’s net profit stood at ₹3,358.8 crore, up from ₹2,947.36 crore a year earlier. This was driven by a 17% growth in net sales, which reached ₹64,667 crore.

The company’s order book reached an all-time high of ₹5.64 trillion as of December 2024. Additionally, L&T secured new orders worth ₹1.16 trillion in the quarter, marking a 53% increase from the previous year and setting a new quarterly record.

Conclusion

L&T’s recent fundraising approval, major contract wins, and steady financial performance highlight its strong market presence. Despite a decline in stock value this year, the company’s growing order book and expansion plans suggest a positive long-term outlook.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Power Grid Corporation of India Ltd saw its shares rise 3.4% in morning trade, making it one of the top gainers on the BSE. The stock hit an intraday high of ₹292.65 per share before settling at ₹291.05 around 9:37 AM, up 2.84%. In comparison, the BSE Sensex was up 0.42% at 77,225.65.

Stock Performance and Market Cap

Power Grid share price is currently trading at ₹291.05 per share, with a 52-week high of ₹366.2 and a low of ₹247.5. The company’s market capitalisation stands at ₹2,70,136.04 crore, reflecting its strong position in the power transmission sector.

Why is Power Grid Rising?

The stock gained momentum after Power Grid acquired 3 Special Purpose Vehicles (SPVs) through a bidding process. The total cost of these acquisitions was ₹26.57 crore. These SPVs are expected to enhance the company’s transmission capabilities and strengthen its network infrastructure.

• Fatehgarh II and Barmer I PS Transmission Project

Located in Rajasthan, this project involves ICT augmentation at both existing and under-construction substations. The acquisition was made on a Build, Own, Operate, and Transfer (BOOT) basis, allowing Power Grid to manage and operate the assets before eventually transferring them as per regulatory norms.

• Chitradurga Bellary REZ Transmission Project

This project, based in Karnataka, includes the establishment of new 765/400/220kV pooling substations near Davangere, Chitradurga, and Bellary. It also involves setting up new transmission lines and upgrading existing substations to improve grid efficiency. Like the Rajasthan project, this too was acquired on a BOOT basis.

Upcoming Meeting on Bond Issuance

Power Grid’s Committee of Directors for Bonds is scheduled to meet on March 26, 2025, to discuss the issuance of debentures and commercial papers for FY 2025-26. The fundraising will be conducted on a private placement basis and is aimed at supporting future expansion and operational needs.

Power Grid’s Performance Over the Last Year

Over the past year, Power Grid’s stock has gained nearly 5%, slightly underperforming the Sensex, which rose by 6% during the same period. However, the company’s recent acquisitions and ongoing expansion plans indicate a strategic focus on strengthening its transmission network and maintaining long-term growth.

Conclusion

Power Grid’s recent acquisitions and planned fundraising highlight its commitment to expanding transmission infrastructure. While the stock has lagged Sensex slightly, its long-term growth prospects remain strong.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Starting March 24, investors can transfer unlisted NSE shares more easily using a delivery instruction slip (DIS). This removes the need for the lengthy 2-stage approval process, which previously caused delays of up to six months.

What’s Changing?

• Old Process: Investors had to complete a manual two-step process, including a KYC check and a “fit and proper” assessment, leading to long delays.
• New Process: The DIS mechanism now allows direct transfers without exchange approval, cutting down the time to just 3–5 days.

Why the Change?

The previous system led to significant delays, frustrating investors. Brokers reported that the long wait often resulted in price changes, forcing deals to be cancelled.

How Does It Work Now?

• The ISIN of NSE will be activated/unfrozen from March 24.
• Investors can transfer shares via DIS without the Stage 1/Stage 2 process.
• Depositories will handle verifications instead of NSE, speeding up approvals.

Demand for NSE Shares is Rising

• NSE shares have doubled in price over the past year.
• As of December 31, 2024, NSE had 20,444 shareholders.
• Shares currently trade at ₹1,850 apiece (ex-bonus) in the unlisted market.

Important Rules for Investors

• Only investors meeting Sebi’s “fit and proper” criteria can hold NSE shares.
• Buying more than 2% of NSE shares requires SEBI approval within 15 days.
• A 5% stake needs prior clearance from Sebi.

How to Transfer Shares via DIS?

To transfer NSE shares offline, investors must provide:

• ISIN code
• DP ID & Client ID
• Correct transfer mode (Off-market or Inter-depository)

This change makes it faster and easier for investors to buy and sell NSE shares, improving market efficiency.

Conclusion

The new DIS mechanism simplifies share transfers, reducing delays and improving liquidity in the unlisted market. This move benefits investors by making transactions faster and more efficient. 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Indian benchmark indices are likely to be impacted, supported by a global risk-on sentiment amid reports that US President Donald Trump’s tariff measures may be more targeted than initially anticipated. Additionally, GIFT Nifty signalled a higher start for domestic equities.

As of 07:15 AM, GIFT Nifty, which serves as an early indicator of the Nifty 50’s performance, was up 27 points or 0.12% at 23,505. Stocks across the Asia-Pacific region opened on a strong note, along with Wall Street futures, as Trump’s reciprocal tariffs, expected on April 2, are likely to be more selective than previously suggested. Japan’s Nikkei rose 0.14%, while South Korea’s Kospi gained 0.4%.

In the previous week, India’s Nifty 50 surged 4.26% (953.2 points) to close at 23,350.4, while the Sensex jumped 4.17% (3,076 points) to 76,905. This marked the strongest weekly rally for both indices since February 2021.

Here are the key stocks likely to be in focus in today’s trading session.

Reliance Industries

Reliance Industries’s step-down subsidiary, Nauyaan Tradings (NTPL), has completed the acquisition of a 74% stake in Nauyaan Shipyard (NSPL) from Welspun Corp for ₹382.73 crore. With this, NSPL has become a step-down subsidiary of Reliance. Before the deal, NTPL had provided an unsecured loan of ₹93.66 crore to NSPL on an arm’s-length basis.

Adani Enterprises

Cococart Ventures Private Limited, a step-down subsidiary of Adani Enterprises, has set up Cococart International-FZCO in Dubai, UAE, on March 21, 2025. The company has yet to start business operations.

NCC

NCC has received a Letter of Acceptance for a ₹1,480.34 crore project from the Bihar Medical Services & Infrastructure Corporation. The contract involves the redevelopment of Darbhanga Medical College & Hospital (DMCH), including hospital structures and other infrastructure.

Mahindra & Mahindra (M&M)

M&M has announced a price increase of up to 3% on its SUVs and commercial vehicles, effective April 1. The price hike will be different across various models due to rising input costs, inflation, and higher commodity prices.

CG Power

Axiro Semiconductor Private Limited, a wholly owned subsidiary of CG Power, has set up Axiro SemiconduDrr (Shenzhen) Co., Ltd. in China on March 20, 2025.

Dr. Reddy’s Laboratories

Dr. Reddy’s USA subsidiary has completed the sale of its Louisiana-based unit, Dr. Reddy’s Laboratories Louisiana LLC, including its Shreveport manufacturing facility. As a result, the Louisiana entity is no longer a step-down subsidiary of Dr. Reddy’s.

Apollo Hospitals

Apollo Healthco (AHL), a subsidiary of Apollo Hospitals, will buy an additional 11.2% stake in Keimed Pvt Ltd from promoter Shobana Kamineni for ₹625.43 crore. AHL will also make a primary investment of ₹99.99 crore in Keimed.

Power Grid Corporation of India

Power Grid has acquired 3 special purpose vehicles (SPVs) – Fatehgarh II & Barmer I PS Transmission and Chitradurga Bellary REZ Transmission – through a bidding process managed by PFC Consulting for ₹26.57 crore.

• Fatehgarh II & Barmer I projects will enhance ICT capacity in Rajasthan. 
• Chitradurga Bellary REZ Transmission involves setting up new 765/400/220kV substations in Karnataka and expanding the existing transmission network. 

Conclusion

Market participants will watch these developments closely as they may influence stock movements today.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

ICICI Securities is set to be delisted after the National Company Law Appellate Tribunal (NCLAT) dismissed petitions opposing the process. This marks a crucial step in ICICI Bank’s plan to make ICICI Securities its wholly-owned subsidiary. As part of the delisting process, ICICI Bank has announced March 24, 2025, as the record date for issuing new ICICI Bank shares to eligible ICICI Securities shareholders. Shareholders will receive 67 shares of ICICI Bank for every 100 shares of ICICI Securities they hold.

With the delisting now confirmed, ICICI Securities shareholders must consider the following steps:

1. Check Shareholding Details

Ensure that your ICICI Securities shares are correctly reflected in your demat account. Since the swap ratio is predetermined, holding the right number of shares as of the record date is crucial.

2. Understand the Swap Ratio

Under the approved arrangement, for every 100 shares of ICICI Securities, shareholders will receive 67 shares of ICICI Bank. It’s important to evaluate how this exchange affects your investment portfolio.

3. Monitor ICICI Bank Stock Performance

With ICICI Securities merging into ICICI Bank, its shareholders will now hold ICICI Bank shares. Investors should track ICICI Bank’s market trends, financial performance, and business strategies to make informed decisions about holding or selling the new shares.

4. Evaluate Tax Implications

The share exchange may have tax implications, such as capital gains tax. Consulting with a tax advisor will help shareholders understand the financial impact of the swap and plan accordingly.

5. Assess Long-Term Investment Goals

If you were invested in ICICI Securities for its growth potential in the brokerage industry, reassess whether ICICI Bank aligns with your long-term financial goals. While ICICI Bank offers stability and diversified financial services, its risk-reward profile differs from a standalone brokerage firm.

6. Decide Whether to Hold or Sell

After receiving ICICI Bank shares, shareholders must decide whether to hold them for potential long-term gains or sell them based on market conditions. Those seeking exposure to the brokerage business specifically may explore alternatives in the sector.

Conclusion

The delisting and merger of ICICI Securities into ICICI Bank mark a strategic move to streamline operations and improve efficiency. Shareholders should take proactive steps to review their holdings, understand the impact of the swap, and make informed investment decisions. By staying updated on ICICI Bank’s performance and market conditions, investors can effectively manage their portfolios post-merger.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.