Market Highlights

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March 28, 2025

• Daily Morning Report – 28th March 2025
• NIFTY OUTLOOK: 23591.95 | FII: 11111.25 cr | DII: 2517.70 cr
• As expected, the market showed weakness up to 23412, nearly touching our mentioned support, before recovering and respecting the 23621 resistance throughout the day, except for a brief flip.
• While a reversal pattern was discussed earlier, yesterday’s long bullish candle on the daily chart did not negate the bearish setup, indicating that the short-term trend remains positive. If Nifty breaks 23657 and sustains, it may rally to 23723–23789, with further demand pushing it to 23857.
• The bullish candle signals a counterattack by buyers, but the reversal pattern is neither confirmed nor invalidated. If Nifty breaks below 23527 and sustains, it could slip to 23461–23393, with strong selling pressure dragging it further to 23331.
• Bank Nifty Outlook
• SPOT: 51575.85 | PCR: 1.07 | Max CE OI: 53000 | Max PE OI: 50000
• On 27th March 2025, Bank Nifty closed at 51575.85, up 0.72% from the previous day. The index moved 663.50 points intraday, hitting a high of 51714.35 and a low of 51050.85.
• For today, the previous high of 51714.35 acts as resistance, while the low of 51050.85 serves as support.
• Technical View on Daily Chart
• Key levels for Bank Nifty today: Resistance at 52081, Support Zone: 51000-50800.
• Yesterday, the index saw a strong recovery from near support levels as mentioned in our report. If it crosses 52000 and sustains, an upward rally toward 52500-53000 is possible. However, if the support zone is breached, it may decline by approximately 500 points.
• RSI: 70.09 (Overbought above 70, Oversold below 30).
• Bank Nifty Day SMA Analysis
• Bank Nifty is trading above all 8 SMAs (5, 10, 20, 30, 50, 100, 150, 200-day) and below none.
• A bullish candlestick pattern has been identified:
• Belt Hold Uptrend
• Macro:
• 1. Dollar index @ 103.92
• 2. Vix @ 18.69 (+0.36 %)
• 3.10 years bond yield @ 4.361
• 4. Crude @ 73.35
• ChatGPT said:
• Note:
• U.S. equities remained under pressure as sentiment weakened following the Trump administration's announcement of a 25% tariff on cars and light trucks, effective April 2nd.
• The move is expected to boost local production in the near term as manufacturers adjust supply chains and shift production to the U.S. However, it could also hurt U.S. automakers, many of whom operate factories outside the U.S., particularly in Mexico. Concerns are rising that these tariffs may slow U.S. economic growth and fuel inflation. Data released Thursday confirmed a slowdown in U.S. economic growth in Q4.
• Conclusion:
• Global markets are watching for retaliatory tariffs on April 2nd. Many countries may impose countermeasures, reshaping trade alliances. Investors are likely to shift focus to other markets, with India and China emerging as preferred destinations due to attractive valuations. China currently offers the cheapest valuations among its peers.
• Contributed by
• Ashok bhandari : INH000019549
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• Beat The Street Bulletin
• Date: 28-Mar-2025
• ORDER WIN
• - BEML: Won ₹405 crore order for metro car supply and maintenance under Bengaluru Metro Rail Projects.
• - Bondada Engineering: Received ₹4.91 crore work order from SR Power Systems for supplying MS tower parts.
• - BEL: Secured ₹1,385 crore worth of major orders, including radar and communication systems for defense.
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• ACQUISITION
• - Zaggle Prepaid: Approved acquiring 45.33% of Effiasoft Pvt. Ltd. for ₹36.72 crore to strengthen its fintech capabilities.
• - Gravita India: Acquired a waste tyre recycling plant in Romania for ₹40 crore.
• - Trident: Disinvested its subsidiary T-Med Biovation, making it no longer a step-down subsidiary of Trident Lifeline Ltd.
• - Jio Financial: Invested ₹85 crore in Jio Payments Bank Ltd., increasing its stake to 85.04%.
• - Jio Financial: Invested ₹1000.24 crore in Jio Finance Ltd. to support its subsidiary’s business operations.
• - DOMS Industries: To acquire 13% more in Pioneer Stationery, increasing its stake to 64% for ₹11.08 crore.
• - Powergrid: Acquired Kurnool III PS RE Transmission for ₹19.04 crore to strengthen renewable energy transmission.
• - NTPC Green: Acquired 100% equity in Ayana Renewable Power for ₹6,248.50 crore to enhance renewable capacity.
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• COLLABORATION
• - Antony Waste: Optimizes operations through the integration of AG Enviro’s services, enhancing efficiency and market competitiveness.
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• LEADERSHIP CHANGES
• - Reliance Communications: Suspended director Punit Garg involved in fraudulent transactions under Section 66(1) of the Insolvency and Bankruptcy Code.
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• NEW PROJECTS
• - DCM Shriram: Commissioned a ₹131.30 crore integrated biogas plant at Ajbapur, starting commercial production.
• - Adani Green Energy: Commissioned 396.7 MW of renewable power projects, increasing its total capacity to 13,487.8 MW.
• - Ultratech Cement: Commissioned multiple brownfield expansions, increasing cement manufacturing capacity to 188.76 mtpa.
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• FUNDRAISING
• - PDS: Approved an additional ₹44.25 crore investment in NexStyle Apparel to expand manufacturing footprints.
• - UCO Bank: Allotted ₹200 crore worth of shares through QIP to LIC, Government Pension Fund, and SBI Life.
• - Autoline Industries: Approved raising ₹60 crore for expansion through bank borrowings and securities issuance.
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• BOUGHT/SOLD
• - JB Chemicals: Saw a large trade of 89.8 lakh shares with Kotak Mutual Fund purchasing 12.3 lakh shares.
• - Cyient DLM: Stock rose 15% after a large purchase of 5.3 lakh shares by Motilal Oswal Mutual Fund.
• - Max Financial: Saw a large trade with promoter selling 55 lakh shares and ICICI Prudential Mutual Fund buying 29.22 lakh shares.
• - IdeaForge Technologies: Saw a large trade with Motilal Oswal Mutual Fund selling 3.1 lakh shares.
• - Uno Minda: Saw a large trade with Copthall Mauritius Investment selling 2.45 lakh shares, bought by Integrated Core Strategies.
• - United Breweries: Had a large trade with Copthall Mauritius Investment selling 1.41 lakh shares and Integrated Core Strategies buying.
• - Shriram Properties: Had a large trade with Sammy's Dreamland Co. selling 11.6 lakh shares, bought by Pleasure Work Homes.
• - BEML: Saw a large trade with Motilal Oswal Mutual Fund buying 2.66 lakh shares.
• - Tourism Finance Corporation: Saw a large trade with Ekta Halwasiya selling 21.1 lakh shares.
• - ThaaI Casting: Saw a large trade with Apt Agrotech Industries buying 1.77 lakh shares.
• - Abans Holding: Saw a large trade with Genesis Grand General Trading LLC selling 3.61 lakh shares.
• - Vertexplus Technologies: Saw a large trade with Rutu Parth Patel selling 0.64 lakh shares.
• - Shanti Overseas: Saw a large trade with promoter selling 3 lakh shares, bought by Hemal Arunbhai Mehta.
• - SBC Exports: Saw a large trade with SBC Infotech buying 32.27 lakh shares.
• - Sanginita Chemicals: Saw a large trade with Manglani Anu selling 2.75 lakh shares.
• - Rajshree PolyPack: Saw a large trade with Anita Jaideep Sampat buying 6.16 lakh shares.
• - Grand Continent Hotels: Saw a large trade with Gowthaman Abilash selling 1.45 lakh shares, bought by Alacrity Securities.
• - Crayons Advertising: Saw a large trade with Authum Investment selling 3.41 lakh shares, bought by Fortune Smart Lifestyle.
• - Gulshan Polyols: Saw a large trade with Elpro International selling 5.62 lakh shares, bought by International Conveyors.
• - Medico Remedies: Saw a large trade with Pashupati Capital selling 5.08 lakh shares.
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• CREDIT RATINGS
• - Gravita India: Credit rating upgraded to [ICRA]AA- (Stable) for ₹100 crore working capital limits.
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• IPO (INITIAL PUBLIC OFFERING)
• - Paytm: Approved selling its 12.75% stake in Socomo Technologies for ₹3 crore, focusing on core payments services.
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• MISCELLANEOUS
• - Samvardhana Motherson: Clarified that U.S. tariffs on automotive components won't significantly impact its U.S. supplies.
• - 3i Infotech: Announced closure of dormant subsidiaries due to inactivity.
• - JSW Steel: Reduced its stake in Piombino Steel Limited by 0.63% following a share buyback of 22.26 crore shares.
• - Gravita India: Acquired a waste tyre recycling plant in Romania for ₹40 crore.
• - BEML: Launched an indigenously designed High Mobility Vehicle 12x12 to strengthen India's defense capabilities.
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• CLARIFICATION
• - Reliance Communications: Clarified suspension of its director Punit Garg due to fraudulent transactions.
• - Samvardhana Motherson: Clarified that U.S. tariffs on automotive components won't significantly impact its U.S. supplies.
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• TAX ORDER
• - HG Infra: Received ₹120 crore assessment notice from the Income Tax Department but plans to appeal.
• - Novartis: Received a draft order from the Income Tax Department proposing ₹3.38 crore tax liability.
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• TG: [https://t.me/BeatTheStreet10]
• Stay updated with Beat The Street
• U.S. Stocks Drop as Trump Targets Foreign Automakers with New Tariff
• Dow Jones posts two days of losses as Trump auto tariffs weigh on stocks - CNBCTV 18
• Trump’s auto tariffs weigh on stocks
• Dow posts back-to-back losses
• ???????? Markets on Thursday
• #DowJones -0.37%
• #Nasdaq -0.5%
• S&P500 -0.33%
• Autos struggle after Trump announced 25% tariffs on “all cars that are not made in the USA which goes into effect on April 2
• General Motors -7% Ford -4%
• Relative beneficiary of Trump’s auto tariffs Tesla +0.4%
• Economic Data
• US Q4 GDP revised higher to 2.4%
• Jobless claims came out at 224,000 for the week ending March 22 vs Dow estimate for 226,000
• HSBC ON ABB INDIA
• Maintains 'Hold' With Target Price Of ₹5,500.
• Increases Electrification Products Prices Effective April 2
• Large Part Of Margin Improvement, Order Inflows Growth Is Led By Pricing
• Margins Have Peaked, See Small Downside Risks
• Hind Zinc, PNB Housing Finance, Inox Wind ; Stocks added in F&O
• Gujarat Gas ; Morbi’s local MLA has announced that Gujarat Gas will decrease the price for Morbi customers by Rs 1.5/scm
• The cut in prices is not owing to a decline in sourcing cost for Gujarat Gas
• Propane is currently cheaper by Rs 2.5/scm
• Even the cut is not likely to bring in any significant volumes for Gujarat Gas
• Jefferies: Brokers, Asset Mgrs & Exchanges
• SEBI's Push to Spread Out F&O Expiry Days to Abate Concerns for BSE
• SEBI has proposed that exchanges should stay with F&O expiry on Tuesday & Thursday.
• This may mean that NSE reverts to expiry on Thursday (from Monday) & BSE stays with Tuesday expiry.
• This may abate concerns around BSE's potential loss of mkt share and impact on EPS (we estimated ~12%).
• Clarity on OI limits is awaited but impact of that is lower for BSE.
• Stock has retraced majority of its fall, but lower reg.
• Risks & better mkts can aid re-rating.
• HOLD stays. TP 5250
• LISTED-BSE (+VE)
• SEBI has proposed that exchanges should stay with F&O expiry on Tuesday & Thursday. Lesser losses expected
• UNLISTED-NSE AND METROPOLITAN EXCHANGES (-VE)
• NSE IPO Could Face Potential Delay As SEBI Flags Shortcoming-Media Reports
• One Day, One Exchange, One Expiry-Lack of Clarity Comes
• BOFA ON PB FINTECH
• Maintains 'Neutral' With Target Price Of ₹1,675
• Business Momentum Is Steady; Co Should Be Able To Grow 30% For At Least 1-2 Years In Core Premium
• Q4 Is Seasonally-Stronger Quarter; Expect Adjusted EBITDA Margin To Improve By 3.4 PPS (QoQ)
• SWOJAS FOODS : PROMOTER SOLD 1.63 % STAKES ON 26 th MARCH VIA OPEN MARKET
• SHRIMP STOCKS ; India is strengthening its grip on the US shrimp market, commanding ~44%+ market share. Says Incred Analyst
• Shrinking shrimp inventory in the US and China is driving demand afresh— India is ideally positioned to capitalize on this and extend its lead.
• Reliable supply chain and efficient logistics provide a fillip for India to become the top shrimp exporter as global demand picks up momentum.