🗞️ Daily Business Brief – MAR 17 2025
- Kirloskar Ferrous partially halts Solapur plant operations amid LPG disruption.
- SBI Mutual Fund buys 4% equity stake in Urban Company for ₹632 crore.
- India VIX cools 13% in two days; volatility eases but remains elevated due to global geopolitical concerns.
- Tata Steel board approves merger of Neelachal Ispat Nigam; to invest ₹18,488 crore in Tata Steel Holdings via share subscription.
- Tamilnadu Petroproducts shuts plant citing force majeure due to LPG shortage.
- FIIs & DIIs FIIs net sell ₹4,741.22 crore while DIIs net buy ₹5,225.32 crore in equities (provisional).
- Varun Beverages arm to acquire 100% stake in South Africa’s Crickley Dairy for ₹131 crore.
- Maruti Suzuki says draft income tax assessment order is routine in nature.
- Godrej Energy Solutions targets ₹3,000 crore order book by FY27, driven by strong power infrastructure projects.
- India-US Trade India awaits final US findings to contest 126% duty on solar cell and panel exports.
- Cyient DLM, Amber Enterprises & Syrma SGS rise up to 5% after JPMorgan upgrades stocks to ‘overweight’.
- Bharat Electronics (BEL) bags order worth ₹1,011 crore.
- Vedanta & Adani Enterprises NCLT rejects Vedanta plea; approves Adani Ent’s resolution plan for Jaiprakash Associates.
- AstraZeneca Pharma gets CDSCO nod to market Durvalumab for liver cancer treatment in India.
- MOIL surges over 18% on strong Q4FY26 guidance; production expected to hit ~9 lakh tonnes.
- Eternal stock recommended for aggressive accumulation for 12–18 months by JM Financial after 40% correction.
- Power Finance Corporation (PFC) declares interim dividend of ₹3.25 per share for FY26.
- KPI Green Energy secures ~₹980 crore funding from Canara Bank for 150 MW wind project in Gujarat.
- Jio Payments Bank launches UPI-based cash withdrawal services.
- Network People Services Tech wins UPI switch mandate from a large cooperative bank.
- Swan Defence & Heavy Industries promoter to sell up to 5.01% stake via OFS at ₹1,900/share.
- Strides Pharma Science to acquire and in-license generic brands from Sandoz in Africa for $12 million.
- DEE Development Engineers says Middle East geopolitical tensions to have limited near-term impact.
- IRCON International gets Supreme Court relief; ₹78.64 crore VAT demand stayed in Ganga bridge case.
- Hexaware Technologies launches AgentVers platform with 600+ enterprise AI agents.
- Tech Mahindra to acquire additional 20% stake in Tech Mahindra Arabia for ₹2.06 billion.
- Aurobindo Pharma receives US FDA Form 483 with 9 observations; classified as Official Action Indicated.
- India Glycols declares interim dividend of ₹7.5 per share.
- India-Iran Trade India in talks with Iran to bring back ships stranded in Strait of Hormuz.
- Subex bags €2.7 million deal from a North African telecom operator.
- IT Sector Outlook Morgan Stanley expects a relief rally into earnings season (Infosys, TCS).
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