Category: Corporate

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Corporate

Sensex surges 800 points, Nifty reclaims 24,200

Indian benchmark indices rebounded sharply on Tuesday, with the BSE Sensex jumping nearly 800 points and the NSE Nifty climbing above the 24,200 level as improved global cues and easing geopolitical tensions boosted investor confidence.

The rally followed a period of volatility in global markets triggered by rising tensions in the Middle East. Sentiment improved after remarks from former US President Donald Trump, who suggested that the conflict involving Iran could end soon. The comments raised hopes of a possible de-escalation in the region, easing fears of prolonged disruptions to global energy supplies.

Falling crude oil prices also supported the market rally. Brent crude slipped below the $90 per barrel mark after surging in recent sessions due to geopolitical concerns. As India imports a large share of its crude oil needs, lower oil prices are seen as positive for the domestic economy since they help reduce inflationary pressure and lower import costs.

Sector-wise, buying interest was visible across several segments including financials, consumption, pharmaceuticals and mid-cap stocks. The broader market also saw strong participation as investors returned to equities amid improving risk appetite.

Among individual stocks, aviation major InterGlobe Aviation, which operates the airline brand IndiGo, emerged as one of the top gainers. Airline stocks benefited from the decline in crude prices, as aviation turbine fuel accounts for a major portion of operating costs. Other major gainers included Asian Paints, Larsen & Toubro, UltraTech Cement and Tata Steel, which advanced during the session.

On the losing side, Reliance Industries was among the biggest laggards on the Sensex, slipping amid profit booking. A few other stocks such as Bharti Airtel and Axis Bank also witnessed mild declines despite the overall positive trend in the market.

Meanwhile, the Indian rupee strengthened slightly against the US dollar, further supporting market sentiment. Global cues also remained favourable, with several Asian markets trading higher as investors reacted positively to falling oil prices and the easing geopolitical outlook.

Also Read: Rajputana Stainless IPO opens at ₹10 cr anchor funding

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Corporate

Rajputana Stainless IPO opens at ₹10 cr anchor funding

Rajputana Stainless Limited has kicked off its initial public offering (IPO) on March 9, aiming to raise funds from both institutional and retail investors. The IPO will remain open until March 11, giving investors a chance to own a stake in the company known for its stainless‑steel products used in kitchenware, industrial applications, and construction.

Before the IPO opened to the public, Rajputana Stainless secured ₹10 crore from anchor investors large institutional buyers who commit capital ahead of the issue. This early support is often seen as a vote of confidence in the company’s prospects and a positive signal for retail investors considering participation.

The company plans to use the funds raised to expand manufacturing capacity, reduce existing debt, and support working capital, strengthening its operations for future growth. The IPO consists of a combination of new shares and an offer for sale by existing shareholders, allowing both the company and early investors to participate in the public listing.

On the first day of grey market trading, which tracks unofficial IPO demand, the shares showed a premium over the issue price, indicating enthusiasm among investors even before the formal listing. Market experts note that a strong grey market premium (GMP) often hints at potential listing gains, though the actual outcome depends on final subscription and market conditions.

The IPO is attracting attention from retail and non‑institutional investors alike, with subscription figures expected to grow as the issue progresses. Investors are advised to carefully consider the company’s financial performance, business model, and long-term prospects before applying. Analysts highlight that the stainless‑steel sector could see growth due to rising demand in infrastructure, construction, and consumer industries.

With the IPO now underway, Rajputana Stainless has an opportunity to strengthen its financial position and expand operations, while investors get a chance to be part of a growing company with a footprint in multiple end-use sectors. Early signs suggest a healthy response, reflecting optimism about the company’s growth and the wider stainless-steel industry in India.

Also Read: RBI clears Anup Kumar Saha for Kotak Board

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Corporate

Sensex falls 2,500 points, Nifty dips below 24,000

Indian equity markets saw a sharp decline on Monday as global crude oil prices surged past $105 per barrel, triggering a broad sell‑off. The BSE Sensex tumbled 2,500 points, while the Nifty 50 slipped below 24,000, reflecting investor concern over rising energy costs, inflation and currency weakness.

The surge in oil prices, driven by escalating tensions in the Middle East, prompted worries over higher input costs for companies and rising fuel prices for consumers. The Indian rupee weakened against the US dollar, compounding investor anxiety.

Banking and financial stocks led the losses. Major lenders such as HDFC Bank, ICICI Bank, and Axis Bank fell sharply, as investors reduced exposure to risk assets. The financial services sector bore the brunt of the selling, reflecting concerns over rising borrowing costs and macroeconomic pressures.

In contrast, commodity-linked and defensive stocks fared better. Tata Steel and other steel and energy-related companies gained, benefiting from the surge in oil and commodity prices. Investors viewed these sectors as more resilient in a volatile environment, helping offset some of the broader market losses.

Mid-cap and small-cap stocks experienced steeper declines, reflecting risk-off sentiment among domestic investors. Analysts noted that market volatility was primarily driven by macro factors, rising crude prices, currency depreciation and geopolitical uncertainty, rather than company-specific news.

Experts say investors will closely watch crude oil trends, foreign fund flows, and upcoming economic data for further guidance. While the sharp slide reflects short-term concerns, long-term investors are advised to focus on fundamentals and valuations rather than reacting to temporary volatility.

Also Read: RBI clears Anup Kumar Saha for Kotak Board

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Corporate

Tata Power, Salesforce partner to boost clean energy

Tata Power has partnered with Salesforce to build an artificial intelligence (AI)-driven digital platform aimed at strengthening India’s clean energy ecosystem. The collaboration is expected to help expand renewable energy services and improve how energy solutions are delivered to customers.

Under the partnership, Tata Power will use Salesforce’s AI and cloud technologies to manage and streamline its clean energy operations. The new system will help the company analyse large amounts of data, automate processes and improve customer interaction across its renewable energy businesses.

The collaboration will focus mainly on areas such as rooftop solar installations, electric vehicle (EV) charging infrastructure and smart home energy solutions. By using advanced data tools and automation, the companies aim to make these services easier to access and more efficient for consumers and businesses.

Officials said the AI platform will also help Tata Power better track energy usage, improve service response time and provide personalised solutions for customers. This could help households and companies manage their electricity consumption more effectively while adopting cleaner energy sources.

The partnership is also expected to support faster growth of Tata Power’s renewable energy projects across the country. By using digital tools, the company plans to simplify operations, improve planning and scale up its clean energy offerings.

India has been focusing on expanding renewable energy as part of its climate goals. The government aims to increase the share of clean energy in the country’s power mix and reduce dependence on fossil fuels. Industry experts say digital technology and artificial intelligence can play an important role in achieving these targets by improving efficiency in energy production and distribution.

For Tata Power, the collaboration is part of its broader strategy to transform into a leading clean energy company. The firm has been expanding its renewable energy portfolio through solar power projects, EV charging networks and distributed energy solutions.

Salesforce, which provides cloud-based software and AI tools, said the partnership will demonstrate how digital technology can help accelerate the transition to cleaner energy systems.

Also Read: China consumer inflation rises in February

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Corporate

Sensex tanks over 2,400 points, Nifty slips below 24,000

Indian stock markets tumbled sharply on Monday as rising global crude oil prices and geopolitical tensions triggered heavy selling across sectors. Benchmark indices — the BSE Sensex and NSE Nifty 50 — opened with steep losses, reflecting investor concerns about inflation and economic uncertainty.

The Sensex plunged more than 2,400 points to around 76,500, while the Nifty 50 dropped over 700 points to fall below the 24,000 level in early trade. The sharp decline came after global crude oil prices surged past $105 per barrel, raising fears of higher fuel costs and pressure on India’s economy.

India, which imports a large share of its crude oil requirements, is particularly vulnerable to spikes in global oil prices. Analysts say higher oil prices increase import bills, widen the current account deficit and add to inflationary pressure, all of which can negatively affect investor sentiment.

Despite the overall market weakness, a few stocks managed to register gains. Shares of metal and pharmaceutical companies showed relative strength, with Tata Steel, Sun Pharma and Hindalco trading higher during early market hours. Investors moved towards these sectors as defensive and commodity-linked stocks often perform better during periods of global uncertainty.

However, most sectors witnessed significant declines. Banking and financial stocks were among the biggest losers, dragging the indices lower. Shares of HDFC Bank, ICICI Bank and Kotak Mahindra Bank fell sharply as investors trimmed exposure to financial stocks amid the broader market sell-off.

Aviation and oil-sensitive companies also faced heavy pressure due to rising fuel costs. Stocks such as IndiGo’s parent InterGlobe Aviation declined as higher crude prices directly impact airline operating expenses.

Market volatility also increased as foreign investors remained cautious amid global uncertainty. The surge in oil prices was linked to escalating geopolitical tensions in the Middle East, which raised concerns about possible supply disruptions.

The Indian rupee also weakened against the US dollar during the session, adding to market worries. A weaker currency can further increase the cost of crude imports and fuel inflation.

Analysts say investors will closely track crude price movements and geopolitical developments in the coming days. Until oil prices stabilise, market sentiment is expected to remain cautious, with global cues likely to continue driving market direction.

Also Read: US loses 92,000 jobs in February 2026

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Pakistan rejects JPMorgan bid for Roosevelt Hotel

The government of Pakistan has decided not to sell the historic Roosevelt Hotel after receiving interest from JPMorgan Chase. Instead, officials plan to redevelop the property in the future while keeping a stake in it.

Located in the heart of New York City, the Roosevelt Hotel is one of Pakistan’s most valuable overseas assets. The building is owned by Pakistan through Pakistan International Airlines (PIA), the country’s national airline.

JPMorgan had reportedly shown interest in buying the hotel property as part of its plans to expand its real estate presence in Manhattan. However, Pakistan’s cabinet decided not to approve the sale after reviewing the proposal.

Officials believe the land where the hotel stands is extremely valuable because of its prime location in Midtown Manhattan. Instead of selling it now, the government thinks the property could bring greater returns if it is redeveloped into a modern building or a large commercial project in the future.

The Roosevelt Hotel has been closed since 2020 and requires major repairs or redevelopment. Over the past few years, Pakistan has been exploring different ways to use the property more effectively as the country looks for ways to strengthen its finances.

According to reports, Pakistan may look for international partners to help redevelop the site. Under such a plan, foreign investors could fund the project while Pakistan keeps partial ownership of the property.

The government believes this approach could help generate more income in the long term compared with selling the hotel outright.

The Roosevelt Hotel has a long history and has been considered a landmark building in New York. Because of its location and size, experts say the site could be developed into a large residential, commercial or mixed-use project.

Pakistan is now expected to appoint financial advisers and begin discussions with potential investors to plan the future of the property.

Also Read: Qatar flags risk to global oil, gas supplies

 

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Corporate

₹4,080 bet turns ₹55 cr in Sedemac IPO

A small investment made years ago by a startup incubator at Indian Institute of Technology Bombay has turned into a massive financial gain after the public listing of Sedemac Mechatronics, an automotive technology company based in Pune.

The institute’s startup incubator, Society for Innovation and Entrepreneurship (SINE), had invested just ₹4,080 in the company when it was still a young startup. With Sedemac launching its Initial Public Offering (IPO), the value of that early investment has now grown to nearly ₹55 crore.

SINE invested in Sedemac many years ago by buying shares at a very low price, reportedly around one paisa per share. At the time, the company was in its early stage and was developing technology solutions for the automotive industry.

Over the years, Sedemac expanded its operations and built a strong presence in the automotive electronics sector. The company designs and manufactures electronic control systems used in vehicles and machines. Its products are commonly used in two-wheelers, three-wheelers, electric vehicles and small engines.

Today, SINE holds about 4.08 lakh shares in the company, representing a small but valuable stake. With the IPO price band set between ₹1,287 and ₹1,352 per share, the total value of this stake is estimated to be around ₹55 crore.

Sedemac’s IPO opened for subscription in early March and attracted strong interest from investors. The public offering is structured as an offer-for-sale, meaning existing shareholders are selling part of their stake rather than the company issuing new shares.

Also Read: Domestic LPG up ₹60, commercial cylinders now ₹115

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Estée Lauder fully acquires Forest Essentials

The Estée Lauder Companies, the US luxury beauty conglomerate, has announced plans to acquire the remaining stake in Forest Essentials, one of India’s leading Ayurvedic skincare brands, bringing it under full ownership. The deal, subject to regulatory approvals, is expected to close in the second half of 2026.

Forest Essentials, founded in 2000 by Mira Kulkarni, has established itself as a premium brand combining traditional Ayurvedic principles with modern skincare technology. The company has nearly 200 standalone stores across India and has grown steadily in the luxury segment. Under the acquisition agreement, the brand’s headquarters will remain in New Delhi, and Kulkarni, along with her son Samrath Bedi, who serves as Executive Director, will continue to lead operations.

This acquisition marks the next stage in an 18-year partnership between the two companies. Estée Lauder first invested in Forest Essentials in 2008 as a minority shareholder and later increased its stake to 49% in 2020. The current deal will allow Estée Lauder to acquire the remaining 51% ownership, giving it complete control over the brand

Stéphane de La Faverie, President and CEO of The Estée Lauder Companies, described the move as a “new chapter” in a long-standing relationship, highlighting India as a key growth market for prestige beauty. Mira Kulkarni welcomed the acquisition, noting that the partnership ensures the brand’s operational foundation and authenticity in India remain intact.

Both companies have emphasized that the acquisition will not affect Forest Essentials’ identity, product range, or Ayurvedic ethos. The brand name, pricing, and strategic direction will remain unchanged. Estée Lauder aims to use its global distribution network and marketing expertise to help Forest Essentials expand internationally, while preserving its cultural heritage and premium positioning in India.

Also Read: Fractal makes ₹100 cr profit in first quarter post-listing

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Fractal makes ₹100 cr profit in first quarter post-listing

Fractal Analytics Ltd, a newly listed Indian AI and analytics company, reported a profit after tax (PAT) of ₹100 crore in its first quarterly results since its stock market debut on February 16, 2026. The results cover the third quarter of FY 2026 (October–December 2025) and mark a strong start for the company as a publicly traded firm.

The company’s revenue rose 21% year‑on‑year to ₹854.4 crore, driven by growing demand from clients in healthcare, life sciences, and banking and financial services (BFSI) sectors. Healthcare alone contributed significantly, with revenue rising nearly 78%, as Fractal’s AI solutions for diagnostics, drug research, and patient analytics gained traction globally. The BFSI sector also increased adoption of predictive analytics and data-driven decision-making tools.

Fractal improved profitability metrics, with adjusted EBITDA up 24% year‑on‑year and gross margins exceeding 47%, indicating efficient operations and strong cost management. The company’s net revenue retention stood at 114%, showing that existing clients increased their usage of Fractal’s products over time.

Fractal’s AI offerings have gained recognition internationally. Its Vaidya.ai 2.0 model scored above 50 on OpenAI’s HealthBench (Hard) benchmark for clinical reasoning, while its PiEvolve engine outperformed several global AI models in independent evaluations. These products have strengthened the company’s position in the competitive enterprise AI market.

With over 5,000 employees worldwide, Fractal is expanding its services across sectors including healthcare, BFSI, consumer goods, and technology. The strong quarterly performance highlights robust revenue growth, expanding margins, and increasing client engagement, setting the stage for continued growth and solidifying investor confidence in the company’s future.

Investors welcomed the results, and trading activity in Fractal’s shares increased following the quarterly announcement.

Also Read: Mazagon Dock shares jump on ₹99,000 cr defence contract hopes

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MRPL shuts units due to crude oil shortage

Mangalore Refinery and Petrochemicals Ltd (MRPL) has temporarily shut one of its crude processing units along with several secondary refining units at its 300,000 barrels-per-day (bpd) Mangaluru refinery due to a shortage of crude oil supplies. The affected crude unit has a capacity of roughly 100,000 bpd and the shutdown began on Wednesday evening, according to sources familiar with the matter.

The move comes amid geopolitical tensions in the Middle East, particularly in the Strait of Hormuz, a vital corridor for global crude shipments. Disruptions in this region have delayed crude deliveries, making it challenging for Asian refiners, including MRPL, to secure replacement cargoes in time. This has forced MRPL to reduce processing temporarily to manage its operations efficiently.

In response to the supply crunch, MRPL has also suspended some refined fuel exports, prioritising domestic requirements. The refinery had already stopped importing Russian crude last year, making it more reliant on Middle East supplies. Analysts say such disruptions underscore the vulnerability of downstream operations in Asia to global supply shocks, especially in regions dependent on imported crude.

Government sources, however, clarified that MRPL’s overall operations remain stable, with adequate crude stocks on hand. They emphasised that reports of a complete refinery shutdown are misleading and that only selected units are affected.

The temporary suspension highlights how regional conflicts and supply chain disruptions can ripple through domestic fuel markets. Refiners like MRPL must balance production schedules, inventory management, and maintenance, all while navigating volatile global energy markets.

Investors and industry watchers are monitoring the situation closely, as prolonged disruptions could affect refinery throughput and fuel availability. While domestic consumption continues, the incident also reflects broader market concerns about the impact of geopolitical tensions on energy security and supply stability.

Also Read: Mazagon Dock shares jump on ₹99,000 cr defence contract hopes