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March 11, 2026 TOP NEWS Update on war:
Global uncertainty continues with US officials indicating that military
operations were intensifying and the chances for diplomatic talks remained
slim -but oil continues fall for 2nd day as IEA proposes largest release of
oil reserves- surpassing the 182 million barrels the group released in 2022
when Russia invaded Ukraine. (Src-Wall Street
Journal). Positive for Paints, Fertilizer and aviation stocks but negative
for upstream companies like ONGC. Jal Jeevan Mission:
The Union Cabinet on Tuesday, March 10, approved the extension of the Jal
Jeevan Mission until 2028 with a total outlay of ₹8.69 lakh crore. Of this,
the central portion has been increased to Rs 3.59 lakh crore from Rs 2.08
lakh crore back in 2019-20. The remaining amount will be funded by state
governments. Pipes. Pumps. EPC contractors. Water Infra and other related
companies to benefit. For pipes: Astral, Supreme industries, Pumps: KSB,
Shakti pumps, EPC contractors: KEC, Kalpataru and Water Infra: EMS, Va tech wabag Shakti pumps, Oswal
pumps: The government is likely to launch a new version of PM KUSUM Yojana siad by union minister Pralhad
Joshi. The deadline of the scheme is nearing. The second version is expected
to be introduced with higher targets and outlay, the minister told PTI Polycab India: Reduction in its income tax demand, with the
liability decreasing by 82% from Rs 327 crore to Rs 58 crore. This
substantial relief of approximately Rs 269 crore provides significant
financial benefits to the electrical equipment manufacturer and removes a key
financial uncertainty. Infosys and Incora,
a leading provider of innovative supply chain solutions in the aerospace and defense industry, announced a new strategic collaboration
to advance the use of artificial intelligence across Incora’s
global supply chain operations. Through the multi-year alliance, Incora will work closely with Infosys to implement
AI-enabled capabilities supporting operations across more than 60 countries.
The initiative leverages Infosys Topaz, an AI-first set of services,
solutions and platforms using generative AI technologies, including the
Infosys EdgeVerve AI Next Platform, to help
modernize Incora’s supply chain environment by
integrating with its existing multi ERP landscape
and enabling greater visibility, accuracy and responsiveness across core
operational workflows TVS Supply chain:
The company has strengthened the global supply chain operations of
Caterpillar India Pvt Ltd by setting up a 40,000 sq. ft. warehouse at a Free
Trade and Warehousing Zone (FTWZ) in Mannur, about
30 km from Chennai. The facility will support multi-country sourcing of components and streamline global parts
procurement for Caterpillar’s manufacturing operations. InterGlobe Aviation: Pieter Elbers has resigned as
Chief Executive Officer, effective March 10. Rahul Bhatia, Managing Director,
will assume management responsibilities on an interim basis. Reliance industries:
Reliance Industries will partner with America First Refining to build the
first new U.S. oil refinery in 50 years. The $300 billion project, planned
for Brownsville, Texas, is hailed as the largest in U.S. history and a
significant boost for American energy production. Trump said the refinery
would be developed by America First Refining with investment support from
India’s largest private sector company, Reliance Industries. Brigade: The company
announced its entry into the industrial real estate segment with the launch
of Brigade Industrial Park, a 25-acre development in Devanahalli in North
Bengaluru. The project, located within the Hi-Tech, Defence
& Aerospace Park near Kempegowda International
Airport, will offer around 2 million sq ft of leasable space and cater to
high-growth sectors such as aerospace and defence,
IT/ITES, and data centres. Hindustan Zinc Limited has signed a
Memorandum of Understanding (MoU) with CMR Green Technologies Ltd., India’s
largest non-ferrous metal recycling company and amongst the largest globally.
This marks the second major partnership for Zinc Park in Rajasthan, following
Hindustan Zinc’s earlier MoU with Tripura Group, and further strengthens the
park’s positioning as India’s first integrated ecosystem for zinc-based
industrial applications. Positive AB Capital: The company has invested Rs 750
crore on a rights basis in the equity shares of Aditya Birla Housing Finance.
Following the investment, there is no change in the shareholding percentage,
and Aditya Birla Housing Finance continues to be a wholly owned subsidiary of
the company. Additionally, the company has allotted 30,000 non-convertible
debentures (NCDs) worth Rs 300 crore, 250 NCDs worth Rs 25 crore, and 4,300
NCDs worth Rs 430 crore on a private placement basis to multiple investors.
Positive INVESTMENT CALL Viewpoint: Aditya
Birla Capital : Laying a strong growth roadmap View– Positive, CMP
– Rs. 332, Price Target Rs. 407
Valuation (Consolidated)
Rs.
crore
Company; Mirae Asset Sharekhan estimates OTHER NEWS Jindal Stainless: JSL Overseas bought
401,010 Jindal Stainless shares (0.05%) on 06-Mar-2026 and 09-Mar-2026;
holding now 16.89%. Positive Gravita India: Demise of Dr. Mahavir Prasad
Agarwal, promoter of the company. Additionally, he was a trustee of Agrawal
Family Private Trust, which is promoter of the Company and holds 23.50%
shareholding in the Company. Central Bank of India: The state-run
lender has renewed its co-lending partnership with Capri Global Capital to
offer loans at competitive rates. The participation of both entities in this
arrangement will lead to greater portfolio expansion for Central Bank of
India and Capri Global Capital. |
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