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March 10, 2025

MACQUARIE ON INDUSIND BANK
Outperform Rating , Target of Rs 1210
KFIN TECH; Updates on formation of a joint venture company with Computer Age Management Services Limited
Ministry of Corporate Affairs has approved the incorporation of the JV Co in the name of “MFC Technologies Private Limited” on March 08, 2025
BRACE PORT LOGISTICS; Company has onboarded Amiee Lynn Inc., a leading US fashion and home goods brand.
This partnership opens new growth opportunities, benefiting stakeholders and investors.
MAN IND ; MAN Industries (India) Limited Inaugurates Advanced Spiral Mill and Coating Facility with 50,000 TPA Capacity in Pithampur
MAN Industries' new Spiral Mill meets top industry standards for precision and reliability in high-pressure pipelines. Its advanced PU & 3 LPE Coating Facility boosts durability and corrosion resistance.
This expansion enhances efficiency, reduces turnaround time, and strengthens the company’s global presence.
MAN Industries is also advancing its Saudi and Jammu plants, reinforcing its commitment to growth.
With these investments, it remains a leader in infrastructure, energy, and water management sectors.
DLF: DLF to invest Rs 6,000 cr to construct 75 lakh sq ft office, retail spaces in Gurugram ; ET Report
RELIGARE ENT ; Religare Enterprises withdraws NCLAT petition against CCI order favouring Burman group's stake buy
AC manufacturers in India plan to increase prices by 4-5% due to shortages of key components like compressors and copper tubes. The supply crunch, driven by surging demand, has prompted companies like Haier and Blue Star to ramp up production. To address delays, manufacturers are airlifting essential parts, but this has further increased costs. With sales expected to grow by 25-30% in the coming months, price hikes of ₹1,500 to ₹2,000 per unit are likely as companies pass on rising expenses to consumers.
HERO MOTO ; Hero Moto Backed Ather Energy converts preference shares into equity, likely to launch IPO in April - CNBCTV18
ZOMATO; SHAREHOLDERS OKAYS PROPOSAL OF CHANGE IN CO.S NAME TO ETERNAL
99.75 % SHAREHOLDERS VOTED IN FAVOUR OF THIS PROPOSAL
Dixon, Amber , Sterlite, Tejas : US reciprocal tariffs may impact Indian electronics manufacturing- BL
Indian electronics manufacturers, including Apple vendors, worry about US tariffs, potential relocations to China or Vietnam, and export losses. ICEA says smartphones and laptops are safe but warns of risks to appliances and telecom gear.
POONAWALLA FINCORP: Poonawalla Fincorp Forays into Education Loans Business, Offers Financing up to INR
3 Crore
Loan up to INR 3 Crore with collateral: Covers tuition, living, travel, books, and insurance premiums for students and co-applicants, with hassle-free approvals
Loan up to INR 1 Crore: Option available with zero collateral
Instant Sanctions: An industry-first initiative for loan up to INR 75 Lakh, ensuring faster decision-making process
Interest Rates: Offering competitive interest rates, making financing more accessible for all students planning to study in international universities
POONAWALLA FINCORP; The launch of the education loan business is part of PFL's strategic expansion plan to diversify its product offerings and deliver comprehensive financial solutions. The company recently launched the digital prime personal loan for salaried professionals
INSURANCE STOCKS ; Govt Invites Applications For The Post Of IRDAI Chairperson
IRDAI Chairman Debasish Panda's 3-year Term Ends On March 13
GLENMARK PHARMA; Glenmark Therapeutics Inc., USA launches Polyethylene Glycol 3350, Powder for Solution, 17 grams/capful (OTC)
According to Nielsen® syndicated data for the latest 52 weeks’ period ending February 22, 2025, the MiraLAX® Powder for Solution, 17 grams (OTC) market achieved annual sales of approximately $555.7 million*
GRANULES INDIA : USFDA pulls up Granules India for lapses in maintaining storage facilities, equipment at Telangana plant : Reports
INDUSIND BANK DOWN 4 %
RBI Approves 1-yr Extension Vs Co's Ask For 3 Yrs To Its MD & CEO
INSURANCE STOCKS ; Ambit Says India’s insurance density is 1/5th of China and 1/100th of the US; mortality gap at 87% or out of pocket expenses at 50% all signify need for insurance
AMBIT ON TELCOME
25% of Airtel's 318k towers (Mar-24) were 5G.
5G site additions slowed from 82k to 10k per quarter post pan-India rollout.
Ericsson sees a 39% capex drop in 2024 for India & SE Asia.
Airtel/Jio shifting focus to monetization over expansion; Airtel's rural rollout ends by Mar-25.
Airtel's India mobile capex to slow, but tariffs will rise (VI survival, Jio IPO).
Airtel likely to increase dividends.
GENESYS INT; Another City Joins the Digital Twin Revolution: Hubballi-Dharwad awards Genesys Digital Twin 3D Map Contract
GENESYS INT ; Hubballi-Dharwad adopts Genesys’ Digital Twin tech under a ₹21.45 cr contract to enhance governance and infrastructure.
Part of the New India Map Stack, the 3D mapping project (₹1.95 cr/zone) aims to modernize tax systems, urban planning, and revenue collection.
GENESYS INT; The New India Map Stack drives India's digital transformation with data-driven urban governance. Hubballi-Dharwad joins other cities using Genesys’ Digital Twin tech, advancing smart infrastructure under the National Geospatial Policy 2022.
ADANI ENERGY ; Fitch affirms Adani Energy Solutions' 'BBB-' ratings with a Negative Outlook, removing them from Watch Negative.
AESL's $1B senior secured notes (due 2026 & 2036) also affirmed.
Ratings reflect Adani's continued funding access post-AGEL board indictments.
ADANI ENERGY; Fitch sees reduced liquidity risks but keeps a Negative Outlook due to US probes.
Potential governance weaknesses could trigger rating action. Fitch will monitor the impact on AESL's financial flexibility.
Fitch sees US fraud indictments as a governance risk for AESL, potentially impacting ratings. Probes may hamper Adani's funding access, affecting AESL’s growth. Despite raising ₹51B and AGEL refinancing $1.1B, reliance on onshore funding raises refinancing risks.
BHARTI AIRTEL ; 9.4 lk shares worth Rs 153.2 cr change hands at Rs 1,631/sh in block deal window
NAVIN FLUORINE FEB EXPORT DATA : UP 53 % YOY, UP 52 % MOM
CLEAN SCIENCE FEB EXPORT DATA ; UP 18.6 % YOY, UP 11.6 % MOM
GUJARAT FLUOROCHEMICALS FEB EXPORT DATA ; UP 37 % YOY, UP 16 % MOM
PRUBHUDAS LILADHAR Says Promoter Buying Is A Soft Signal That Things Are Improving For Zee
Ad Spends To Shift To Sports Category In Q1 Due To IPL
Will Have To See Whether The Karnataka Govt Order On Movie Ticket Price Caps Will Be Passed
Profitability Has Struggled For PVR Inox, Expect (Industry) Box Office Collections Of Rs 1,700-1,900 Cr In Q4
Expect 15-16% EBITDA Margin In FY26 For Zee Ent
BSE ; Nuvama cuts BSE price target by 30% to ₹5,160 from ₹7,250
Nuvama argued that NSE's decision to shift the expiry day for its derivative contracts to Monday would lower industry volumes, as trading opportunities for retail traders, who are typically more active closer to expiry, would reduce
ZYDUS LIFE ; Zydus receives final approval from USFDA for Ketoconazole Shampoo, 2%
Ketoconazole shampoo is an antifungal medication used to treat dandruff, fungal infections, and other skin conditions. Ketoconazole shampoo will be produced at the Group’s topical manufacturing site at Changodar, Ahmedabad.
Ketoconazole shampoo had annual sales of USD 68.89 mn in the United States (IQVIA MAT January 2025).
NIFTY UP NEARLY 100 PTS
INDUSIND BANK RECOVERED 2 %
BANKA BIOLOO UP 15 %
METALS INDEX TOP GAINER , UP 1 %

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