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March 13, 2026 TOP NEWS War update: Iran’s new Supreme Leader
Mojtaba Khamenei pledged to keep the Strait of Hormuz effectively shut. He
also warned that Iran may open additional fronts in the conflict if the US
and Israel continue their attacks. India dials Iran for safe transit of its
vessels through Strait of Hormuz+ GoI steps in to
manage LPG demand-supply. . Crude oil hike will
impact negatively for BPCL, HPCL, Paint companies, Tyre companies, Aviation
companies etc. Positive for upstream companies such as ONGC and Oil India. Biocon : The company has received approval from the
US Food and Drug Administration (US FDA) for its ANDA for Liraglutide
Injection (gVictoza®), 18 mg/3 mL (6 mg/mL),
single-patient-use prefilled pens. Liraglutide is indicated for the treatment
of insufficiently controlled Type 2 Diabetes Mellitus in adults, adolescents,
and children aged 10 years and above as an adjunct to diet and exercise. Hindalco: Hindalco Industries Ltd has
announced that Novelis Inc., a wholly owned subsidiary, have entered into a
material definitive agreement regarding a $225 million municipal bond
offering, effective March 12, 2026.Novelis filing a Form 8-K for the $225
million municipal bond offering is positive for Hindalco. As Hindalco's
wholly owned subsidiary, Novelis gains fresh liquidity at potentially
favourable terms (tax-advantaged municipal bonds), aiding debt management and
operations amid high leverage (~$8.4B consolidated debt). Positive Balaji Amines is currently experiencing
significant logistics disruptions in the procurement of ammonia, one of the
key raw materials used in the manufacture of methylamines, ethylamines, and their derivatives, due to the ongoing
war in the Middle East region. (Negative) Inox Wind: The
government is re-evaluating its plan to float tenders for 1 GW wind energy.
Government highlighted that there may not be the same interest as earlier in
tenders for these projects. Negative for Inox wind and Suzlon Max Financial Services: The board has
approved fund-raising worth Rs 2,000 crore via a qualified institutional
placement (QIP) or any other method. The proposed utilisation of the funds is
primarily to meet the funding requirements of its material subsidiary, Axis
Max Life Insurance, to support its business growth and expansion plans, with
the balance to be used for general corporate purposes. Shriram Finance Limited's: Its wholly-owned subsidiary, Shriram Overseas Investments
Limited, has applied to the Reserve Bank of India (RBI) for a Primary Dealer
(PD) business license. This move signals potential
diversification into government securities trading and underwriting, subject
to RBI approval. Securing a Primary Dealer license would enable Shriram
Overseas Investments to act as an intermediary in the government securities
market. This diversification could create new revenue streams for Shriram Finance,
extending its existing financial expertise into the debt market. It aligns
with the company's strategy of expanding its financial services portfolio and
capturing a broader range of market opportunities. Right now signs are
emerging that fertilizer companies are struggling. Manufacturers, including
top producer Indian Farmers Fertiliser Cooperative Ltd (IFFCO)., have either
halted some of their facilities or started routine upkeep. To ensure adequate
urea which is a key raw material for
, government has reached out to China to allow for the sale of Urea,
which could provide some breather to the fertilizer companies. Macro Wrap
OTHER NEWS HFCL has entered into
a 5-year (will run upto Dec 2030) supply agreement
with a customer for supply of Optical Fiber Cables
worth USD 1.10bn ~ INR 10,159 crores approx. This materially
strengthens the company’s competitive positioning and reinforces its long‑term
growth outlook in the global OFC market. (Positive) Gravita India: The company has announced the
signing of definitive agreements to acquire a 98.95% stake in Rashtriya Metal
Industries Ltd (RMIL) for Rs. 559.08 crore. The transaction is expected to
close by March 31, 2026. Positive Tata Steel: Company have filed a Writ
Petition with the Jharkhand High Court challenging an order dated Dec 18,
2025, from the Commissioner of CGST & Central Excise, Jamshedpur. Neutral JK Lakshmi Cement: The company has been
declared the ‘preferred bidder' for the mining lease of the Juipahar New Umrangso Limestone
Block (A and B) in Assam. The limestone blocks (A and B) are spread over an
area of 405 hectares. Indian Overseas Bank: The bank has reduced
the one-month MCLR by 10 basis points, effective March 15, while the MCLR for
other tenures remains unchanged. Godrej Properties: The company has announced
the acquisition of an approximately 44-acre land parcel in Coimbatore through
an outright purchase. It plans to develop a premium plotted residential
project with a developable potential of about 1.1 million sq. ft. and an
estimated revenue potential of Rs. 450 crore. Kalpataru: The company has announced the
signing of a redevelopment project for Shree Mahalakshmi CHS located off
Veera Desai Road, Andheri West. The project spans approximately 3 acres and
has a total potential carpet area of about 0.4 million sq. ft., with an
estimated gross development value (GDV) of around Rs. 1,400 crore. |
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