PRE MARKET
Gift Nifty indicates a positive start for the broader index in India, with a gain of 68 points or 0.29 percent. The Nifty futures were trading around the 23,453.50 level.
Wall Street ended sharply higher on Monday, fueled by gains in AI-related stocks, with Meta Platforms climbing after a report that it is preparing for sweeping layoffs, while oil prices retreated amid ongoing uncertainty about the Middle East conflict.
The S&P 500 climbed 1.01% to end the session at 6,699.38 points, its strongest one-day gain in over a month. The Nasdaq gained 1.22% to 22,374.18 points, while the Dow Jones Industrial Average rose 0.83% to 46,946.41 points.
Asian equities rose at the open after optimism that more tankers would be able to pass through the crucial Strait of Hormuz lifted gauges on Wall Street.
Japan’s Nikkei, Hong Kong’s Hang Seng and the Taiwanese weighted index hiked up 0.49, 1.35 and 1.58 percent.
STOCKS IN NEWS
Reliance Industries
The company has entered into a binding long-term Supply and Purchase Agreement (SPA) with Samsung C&T Corporation, South Korea, for the supply of green ammonia over 15 years, commencing in the second half of FY2029. The SPA, valued at more than US$3 billion, is one of the largest binding long-term green ammonia off-take agreements globally.
Andhra Cements
Promoter Sagar Cements will sell up to 66.76 lakh equity shares of Andhra Cements (equivalent to 7.24% of the total paid-up equity) on March 17–18. The floor price for the offer will be Rs 52 per equity share.
Sun Pharmaceutical Industries
The company announced that the US Food and Drug Administration (FDA) has accepted for review the supplemental Biologics License Application (sBLA) for ILUMYA for the treatment of adults with active psoriatic arthritis. The FDA regulatory action date for this sBLA is expected by October 29, 2026.
L&T Technology Services
The company has announced its next-generation, AI-powered digital twin platform for lung navigation, surgical planning, and respiratory diagnostics. The platform combines LTTS’ MedTech expertise across medical imaging, AI-driven diagnostics, and connected healthcare systems with NVIDIA AI infrastructure to enable greater precision and enhanced outcomes.
Rail Vikas Nigam
The company has received a Letter of Acceptance (LOA) from National Mineral Development Corporation (NMDC) for the refurbishment of the permanent way of NMDC sidings and mobile equipment tracks, including maintenance at Kirandul and Bacheli, Chhattisgarh. The order is worth Rs 95.27 crore.
Gujarat Mineral Development Corporation
The company has entered into a Memorandum of Understanding (MoU) with NMDC to explore opportunities for collaboration in the rare earth elements (REE) sector. The collaboration will focus on assessing the potential development of an integrated rare earth value chain in Gujarat, including exploration, mining, beneficiation, processing, and downstream applications.
Source – Moneycontrol
