Market Highlights

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Get the latest Indian stock / share market highlights, BSE/NSE stock news, business research reports & details - updated daily by Money Times.

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March 18, 2025

• RITES ; Update on Major Order received from Ntokoto Rail Holdings Pty. Ltd.
• The value of order has been revised from 5.40 Million USD ( ₹ 46.8 Cr ) (CIF) to 10.80 Million USD ( ₹ 93.6 Cr ) (CIF).
• On 7 Oct 2024, RITES has received the addendum to the Contract Agreement whereby Ntokoto Rail Holdings Pty. Ltd. has awarded additional work for Supply and commissioning of overhauled in-service of Cape Gauge ALCO Diesel Electric Locomotives fitted with new Cape Gauge Bogies, Traction Motors, Control System Air braked, etc. overhauled at nominated facility and on-site warranty support for one year.
• BAJAJ FINSERV: Update On Allianz Stake Sale
• Co. says Allianz SE plans to exit its insurance joint ventures and sell its 26% stake to the Bajaj group.
• Bajaj's Board approved the proposal Today
• BAJAJ FINSERV; Bajaj to Acquire Allianz’s 26% Stake
• In Bajaj Allianz Life & General Insurance, To Gain Full Ownership
• The agreed consideration for 26% stake in Bajaj Allianz General Insurance Company Limited (BAGIC) and Bajaj Allianz Life Insurance Company Limited (BALIC) is Rs. 13,780 crore and Rs. 10,400 crore respectively.
• BAJAJ FINSERV: The Company will acquire 1.01% equity in BAGIC and BALIC from Allianz for ₹4,808.24 and ₹2,654.12 per share, respectively. Post-acquisition, it will hold 75.01% in both companies.
• Promoter Entity Bajaj Holdings (19.95%) and Jamnalal Sons (5.04%) will acquire stakes in both insurance firms.
• Post-acquisition, the Company will hold 75.01%, and promoters will own 24.99%.
• BAJAJ FINSERV ; Board approved acquiring Allianz's 50% stake in Bajaj Allianz Financial Distributors Limited (BAFDL) for up to ₹12.5 crore.
• Post-acquisition, the Company will fully own BAFDL
• JIO FINANCIAL; Bajaj to Acquire Allianz’s 26% Stake
• In Bajaj Allianz Life & General Insurance, To Gain Full Ownership
• Note ; 23 Oct Last year , Bloomberg Reported that India's Jio Financial in talks with Allianz for insurance partnership
• MUTHOOT FINANCE; S&P Global Ratings has raised Issuer credit ratings on Muthoot Finance Limited to 'BB+/B' from 'BB/B'.
• Volkswagen's Audi to Cut Up to 7,500 Jobs in Germany by 2029 Amid Cost-Saving Push
• BAJAJ FINSERV: ‘Once the JVs between Bajaj Finserv & Allianz is terminated, the Bajaj Group & Allianz aim to independently pursue their insurance strategies in India’
• Germany's Allianz Ends 24 Years TIE Up With Bajaj
• In 2001, German insurer Allianz and two-wheeler manufacturer Bajaj Auto formed a partnership, with Allianz holding a 26% stake - then the maximum allowable limit for foreign investors.
• MANAPPURAM FINANCE: BOARD TO MEET ON 20 MARCH TO CONSIDER FUND RAISING VIA EQUITY
• ZOMATO ; Nona Lifestyle has filed an insolvency plea against Zomato in NCLT over ₹1.65 crore in unpaid dues for delivery partner uniforms.
• Note: Zomato Recently Raised Rs 8500 Cr Via QIP
• BBTC ; Bombay Burmah Trading Corp. sold Phase 1 and 2 lands in Tamil Nadu for ₹36.47 crore on March 17, 2025.
• Buyers include Annai Constructions, Suthesa Hemalatha, and G. Sujitha Priyanka.
• Dow Rises 400 Points as Retail Sales Miss Forecast but Show Stability
• BAJAJ FINSERV-ALLIANZ TERMINATE INSURANCE JOINT VENTURES
• ▪️Bajaj ALLIANZ GENERAL (FY24)
• -FY24 Book Value/Share Rs 984
• -FY24 GDPI Rs 20,473 Cr
• -Total Shares: 11.02 cr shares
• -Bajaj Allianz Gen Valued At Rs 53,346 Cr
• FY24 Price/Book Value: 4.9X
• FY24 Price/GDPI: 2.6X
• ▪️BAJAJ ALLIANZ LIFE (FY24)
• -FY24 Embedded Value Rs 21,726 Cr
• -Bajaj Allianz Life Valued At Rs 40,000 Cr
• FY24 Price/Embedded Value: 1.84X
• Amitabh Bachchan has set a new record by becoming India’s highest tax-paying celebrity for the financial year 2024-25, surpassing Shah Rukh Khan.
• This year, his total earnings reached ₹350 crore, leading to a tax liability of ₹120 crore.
• CITI ON SONA BLW
• Maintains 'Buy'; Cuts Target Price To ₹570 From ₹630
• Maintains 'Buy' Rating Given The Orderbook Size & Product Diversification
• See Possible Near-term Risks Though Orderbook Remains Strong
• See Lower Global Demand Leading To Weaker Incremental Orders
• See Possible Delays In Existing Orders
• UBS on HAL
• Buy, TP cut to Rs 4800 from Rs 5700
• Market's negative perceptions is misplaced Ltd impact on FY26E/27E earnings; upside risk to consensus orders
• Defence ordering: FY26E may be inflexion year with HNAL a key beneficiary
• HNAL's order book may ramp up by 3x by FY27E
• JEFFERIES ON INVENTURUS KNOWLEDGE
• Initiates 'Hold' With Target Price Of ₹1,575
• Co Is Niche Tech-Ops Vendor To US-Based Healthcare Providers
• Market Offers Strong Growth But May Remain Fragmented
• Expect 14% Organic Revenue CAGR Over FY25-27
• Margin Expansion & Deleveraging To Spur EPS Growth; Valuation Limits Upside
• GS on GCPL
• Buy, TP Rs 1370
• 3Q was an aberration
• Co poised to be fastest growing FMCG co in coverage in FY26
• Co’s HI biz on path of structural market share led growth as new formulation gains traction after 6 months of launch
• Risk reward extremely favorable post correction
• NUVAMA ON SIGNATURE GLOBAL
• Initiates Buy With Target Price Of ₹1,436
• Co Is A Premier Developer With Track Record Of Execution Excellence
• Low-Cost Land Bank in Attractive Gurugram Market
• Strong Margins & Rapid Sales Velocity Result In High Capital Efficiency
• Co On way to Achieve Net-Cash Status
• GOLDMAN SACHS ON GODREJ CONSUMER
• Maintains Buy With Target Price Of ₹1,370
• Q3 Was An Aberration In An Otherwise Strong Volume Growth Trajectory
• Co Poised To Be The Fastest Growing FMCG Co In Our Coverage In FY26
• Household Insecticides Business On Path Of Structural Market Share Led Growth
• Expect Margins To Recover As Soap Pricing Gradually Passes On Palm Oil Inflation
• NUVAMA ON PVR INOX
• (CMP: 901)
• MAINTAIN BUY TARGET: 1,765
• After A Weak CY24, CY25 Starts Strong With A 39% YoY Box Office Jump In Jan-Feb To 2,264 cr
• Feb-25 Is The Highest-grossing February Post-pandemic At ₹1,245 Cr
• Hindi Movie Industry Revival Is Evident; Consistency Is Key
• Promoter Buying & Strong Q4FY25 Are Notable Triggers With A Solid Hollywood Line-up
• PC JEWELLER; Board approves allotment of 51.7 crore shares to 14 banks for settling Rs 1,510 crore debt
• Shares Alloted at ₹ 29.2/Share ( 54.14 % Discount To yesterday's Price)
• INDUSIND BANK : Moody's affirms rating of Indusind Bank
• Downgrade possible pursuant to a review
• Current affirmation with stable outlook considers the bank's strong capital, core profitability and stable funding - NDTV PROFIT
• Morgan Stanley on Bajaj Finance
• TARGET 9,300
• POTENTIAL 10%
• RECOMMENDATION Outperform
• Rajeev Jain's new role should be announced before March 31
• See a higher possibility of him having a role at Bajaj Finance which would be seen positively
• Anup Saha is likely to become the new MD
• AVP INFRACON; WINS RS 21 CR ORDER
• AVP INFRACON; Company has received Letter of Acceptance (LOA) dated 17-03-2025 from M/S Arun Kumar, AM Grand Associates at Suriyur, Trichy for “Construction of cold storage facility and warehouse on turnkey basis”.
• The order value is approximately INR 21.00 Crores.
• MANAPPURAM FINANCE: CO TO CONSIDER FUNDRAISING PROPOSAL ON MAR 20
• RITES LTD: CO. HAS RECEIVED AN ADDENDUM TO ITS CONTRACT WITH NTOKOTO RAIL HOLDINGS PTY. LTD., DOUBLING THE ORDER VALUE FROM USD 5.4M TO USD 10.8M (CIF)
• LEMON TREE HOTELS: CO SIGNS LICENSE AGREEMENT FOR 50-ROOM HOTEL IN BOKARO, OPENING FY27
• HINDALCO;Govt imposes provisional anti-dumping duty on Chinese aluminium foil (5.5–80 microns, non-capacitor use).
• BAJAJ FINSERV +1.5 % AFTER ALLIANZ DEAL
• NIFTY TO OPEN 153 PTS GAP UP