On March 26, 2025, as of 12:15 PM, the BSE Sensex was down 0.42% at 77,684.32, while the Nifty 50 was down 0.29% at 23,599.70. The mid-day top gainers and losers for the day are:

Mid-Day Top Gainers 

IndusInd Bank

IndusInd Bank shares saw a steady rise, opening at ₹637.4 and reaching a high of ₹661.7, closing the day with a 3.4% gain, reflecting positive investor sentiment.

Trent

Trading in a narrow range, Trent shares hit a high of ₹5,289 from an opening of ₹5,205, marking a solid 1.83% increase and indicating strength in the stock’s performance.

BEL

BEL Shares surged to ₹304.69 from an open of ₹301.07, closing up by 1.51%, showcasing resilience in the stock despite minor fluctuations.

M&M

M&M showed consistent upward movement, peaking at ₹2,785 from an opening of ₹2,751, gaining 1.45% and maintaining momentum throughout the day.

Powergrid

Powergrid shares gained 0.86%, trading between ₹291.7 and ₹296.75, reflecting stable growth despite a modest overall increase.

Mid-Day Top Losers

Tech Mahindra

Tech Mahindra shares opened at ₹1,464 and remained flat at that level but faced a decline, dropping to ₹1,420, ending the day with a 2.13% loss.

NTPC

NTPC shares started at ₹366.95, peaked at ₹369, but saw a significant pullback, dropping to ₹358.2, closing down by 1.78%.

Axis Bank

Axis Bank shares opened at ₹1,115, reached ₹1,118.85, but slipped to ₹1,099.75, ending the session with a 1.6% decline.

Cipla

Cipla shares opened at ₹1,507 and saw a slight uptick to ₹1,512.35 but faced a pullback to ₹1,485, resulting in a 1.52% drop.

Dr Reddy

Dr Reddy shares opened at ₹1,177.90, peaked at ₹1,179.80, but slid to ₹1,152.65, closing down by 1.45%.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Jyothy Labs Limited has announced the sale of its entire 75% equity stake in Jyothy Kallol Bangladesh Limited (JKBL) to Kallol Enterprise Limited for a total consideration of BDT 3,01,92,134. The transaction was approved by the company’s Board of Directors in a meeting held on March 25, 2025.

As a result of the sale, JKBL is no longer a subsidiary of Jyothy Labs, effective immediately. The company has also signed a Share Purchase Agreement (SPA) with Kallol Enterprise Limited, which previously owned a 25% stake in JKBL.

As of March 31, 2024, JKBL generated BDT 520 lakh in revenue, accounting for 0.14% of Jyothy Labs’ total revenue. The net worth of JKBL was BDT 1,023 lakh, making up 0.42% of the company’s consolidated net worth.

Transaction Details

Kallol Enterprise Limited, based in the Tejgaon Industrial Area, Dhaka, Bangladesh, is the acquiring entity. Although this transaction is considered a related party transaction, Jyothy Labs has confirmed that it was conducted at arm’s length.

The company also clarified that the transaction is not part of any Scheme of Arrangement as outlined by SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.

In line with Regulation 30 of the SEBI LODR Regulations, Jyothy Labs has submitted the necessary disclosures along with the SEBI Circular.

Jyothy Labs Q3FY25 Performance

During Q3FY25, Jyothy Labs Limited posted a consolidated revenue of ₹704 crores, demonstrating a 4% growth in value and an 8% increase in volume compared to the previous year, highlighting its ability to maintain a strong market position despite weaker consumer demand and fluctuations in the Household Insecticide category. The EBITDA margin for the quarter was recorded at 16.4%, down slightly from 17.5% in the same quarter last year.

For the 9 months ending December 31, 2024, revenue reached ₹2,180 crores, reflecting a 4% value growth and a 7.2% increase in volume. The company’s Gross Margin improved to 50.4%, an increase of 150 basis points from the same period last year. The Operating EBITDA margin for the nine months stood at 17.8%, showing a slight improvement of 10 basis points from the previous year.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks; read all the related documents carefully before investing.

On March 26, 2025, Maruti Suzuki share price fell ~2% and touched the day low of ₹11,750.95 at 10:00 AM after opening at ₹11,848.95. The fall in Maruti Suzuki share price came after the company, through an exchange filing, announced that it had received a Draft Assessment Order from the Income Tax Authority for FY 2021-22 on March 25. The draft order proposes additions and disallowances totaling ₹2,966 crore to the company’s returned income.

“The company has received a draft Assessment Order for the FY 2021-22 wherein certain additions/ disallowances amounting to Rs 29,660 million with respect to returned income (the income disclosed by the Company in its Income Tax return) have been proposed,” Maruti Suzuki India said in a regulatory filing.

Response by Maruti Suzuki

The company announced that it would submit objections to the Dispute Resolution Panel (DRP) to challenge the proposed additions. Maruti Suzuki also assured that the order will not affect its financial, operational, or other business activities. The assessment order was received on March 24, 2025.

Maruti Suzuki Sales Performance

In February 2025, Maruti Suzuki India Limited sold a total of 199,400 units. This figure includes 163,501 units sold domestically, 10,878 units sold to other OEMs, and 25,021 units exported. During Q3FY25, the company sold a total of 566,213 vehicles, with 466,993 units sold in the domestic market.

Exports reached 99,220 units, marking the highest-ever quarterly export figure. In the same period last year, total sales were 501,207 units, including 429,422 units in the domestic market and 71,785 units in exports. The Company also recorded its highest-ever Net Sales for the quarter, amounting to INR 368,020 million, compared to INR 318,600 million in the previous year’s corresponding period.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

On March 26, 2025, Ashok Leyland share price rose over 2%, reaching a day high of ₹214.40 at 09:30 AM, after opening at ₹212.70. The gain in Ashok Leyland shares came ahead of the scheduled board meeting on March 26. The news reports claim that India’s second-largest Commercial Vehicle manufacturer, Ashok Leyland, may be close to acquiring the promoter’s stake in SML Isuzu. As mentioned in the news reports, the negotiations reached an advanced stage between the company and Japan’s Sumitomo Corporation, the promoter of SML Isuzu.

M&M and JBM Contender for SML Isuzu

The news reports also stated that Mahindra & Mahindra is also in talks to acquire the entire promoter stake in SML Isuzu at a valuation of between ₹1,400 to ₹1,500 per share, which is a discount to SML Isuzu’s current market price. In addition, JBM Auto is among the top participants to acquire SML Isuzu.

Ashok Leyland Feb 2025 Sales

In February 2025, Ashok Leyland recorded a mixed sales trend across different categories. For Medium and Heavy Commercial Vehicles (M&HCV), truck sales saw a modest increase of 1% compared to February 2024, with 8,922 units sold, though cumulative sales for the year showed a 5% decline at 83,843 units. On the other hand, bus sales in the M&HCV category witnessed a 5% drop in February but a strong 18% growth in cumulative sales, reaching 25,150 units. Overall, the total M&HCV category remained relatively flat, showing no significant growth or decline on a year-over-year basis.

Light Commercial Vehicles (LCV) saw a 5% increase in domestic sales for February 2025, with 6,417 units sold, but cumulative LCV sales slightly declined by 1% compared to the previous year. When looking at the overall vehicle market, total vehicle sales increased by 2% in February 2025 compared to the same month last year, although cumulative sales were nearly unchanged, showing a slight 0% decrease. This data indicates a generally stable but cautious market, with some variations across categories, reflecting ongoing market dynamics.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

REC share price will trade ex-date on March 26, 2025, meaning that the shareholders registered in the company’s books will be eligible for the ₹3.60 interim dividend.

REC Dividend History

REC Q3FY25 Earnings Highlights

The company’s loan assets/ assets under management grew by 14% in Q3. While disbursements reached an all-time high of ₹54,692 Crores in Q3, the loan book growth was limited to 14% due to some prepayments. However, REC anticipate that in Q4, its loan assets will grow between 15% and 17%, and it is confident about sustaining this growth rate in the coming years. As a result, the company is targeting a growth in its assets under management to approximately ₹10 lakh Crores by the end of 2030.

A significant portion of its disbursements has been directed towards renewable energy projects, with disbursements increasing by 79% in the first nine months for these projects. In comparison, non-power infrastructure and logistics saw a growth of 30%. Additionally, the company’s profit after tax has experienced a notable increase of 15%, reaching ₹11,477 Crores.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

TVS Motors shares will trade ex-date on March 26, 2025, meaning that the shareholders registered in the company’s books will be eligible for the ₹10 interim dividend.

TVS Motor Dividend History

TVS Motors Q3FY25 Earnings Highlights

TVS Motor Company’s operating revenue increased by 10%, reaching ₹9,097 Crores for the quarter ending December 2024, compared to ₹8,245 Crores in the same quarter of 2023. The Company’s Operating EBITDA rose by 17%, amounting to ₹1,081 Crores for Q3 of 2024-25, up from ₹924 Crores in Q3 of 2023-24. The Operating EBITDA margin for the quarter reached a record high of 11.9%, compared to 11.2% in Q3 of the previous year.

The Company’s Profit Before Tax (PBT) increased by 8%, reaching ₹837 Crores for the third quarter of 2024-25, compared to ₹775 Crores in the third quarter of 2023-24. This quarter’s PBT includes a fair valuation loss of ₹41 Crores, in contrast to a gain of ₹65 Crores during Q3 of the previous year.

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

In a move poised to provide significant financial relief to India’s telecom industry, the government has decided to waive Spectrum Usage Charges (SUC) for airwaves acquired through auctions before September 2021 as mentioned in various news reports. This decision is expected to be a game-changer for telecom operators, helping companies like Vodafone Idea, Airtel, and Reliance Jio conserve substantial amounts of cash as they gear up for 5G expansion and the further strengthening of their networks.

The Background

The government had previously removed the SUC for spectrum acquired through auctions held after September 15, 2021. However, the status of airwaves purchased before that date had remained unresolved, leaving telecom operators burdened with additional costs. Now, the waiver is expected to apply retroactively to the spectrum acquired in earlier auctions, providing much-needed financial relief to the sector.

As per reports, the decision to waive SUC for the pre-2021 spectrum is expected to be formally approved soon. This move is seen as a crucial step in ensuring that telecom companies continue with their network expansion efforts without unnecessary financial hindrances.

Financial Relief for Telecom Companies

One of the most significant beneficiaries of this waiver is likely to be Vodafone Idea, which has been struggling with a massive debt load exceeding ₹2 lakh crore. It’s anticipated that the company is set to gain ~₹8,000 crore from this waiver, offering it a critical lifeline in its efforts to recover and stabilize.

Currently, telecom operators pay SUC at a rate of 3-4% of their adjusted gross revenue (AGR), along with an 8% license fee that includes a 5% contribution to the Universal Service Obligation Fund (USOF). By waiving the SUC for the pre-2021 spectrum, the government aims to reduce the financial strain on telecom operators, giving them more flexibility to focus on network enhancement and service expansion.

The Wider Industry Impact

While Indian telecom operators stand to benefit significantly, the waiver will not extend to new entrants like Starlink, the satellite internet venture by Elon Musk. Starlink and other satellite operators will still be required to pay SUC on their spectrum, as they acquire it through an administrative process rather than through competitive auctions. This distinction ensures that companies obtaining spectrum through government allocation at a fixed price are subject to SUC.

Despite this significant relief, there are still considerable financial challenges ahead for Vodafone Idea, especially with the looming end of the moratorium on AGR payments. As of the end of December, Vodafone Idea’s AGR dues stood at ₹70,000 crore, while the company’s cash reserves were relatively low at ₹12,090 crore. This underscores the importance of financial measures like the SUC waiver, which could provide a temporary cushion for the company while it navigates these challenges.

Conclusion

The waiver of Spectrum Usage Charges for airwaves acquired before September 2021 is a significant and positive step for the Indian telecom industry. It offers crucial financial relief to major operators, helping them focus on expanding their networks and rolling out 5G services.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

On March 25, 2025, as of 12:18 PM, the BSE Sensex was up 0.05% at 78,027.75, while the Nifty 50 was up 0.11% at 23,683.20. The mid-day top gainers and losers for the day are:

Mid-Day Top Gainers 

Here’s a brief market update based on the top gainers:

UltraTech Cement

UltraTech Cement shares opened at ₹11,240 and hit a high of ₹11,470.90, marking a solid 3.62% gain as it trades at ₹11,451.10, driven by strong upward momentum.

Trent

Starting at ₹5,121.45, Trent reached a high of ₹5,204.55, registering a 2.61% rise, now trading at ₹5,186.80, reflecting positive investor sentiment.

HDFC Bank

With an opening of ₹1,804.90, HDFC Bank surged to ₹1,843.70, showing a 2.27% increase and currently trading at ₹1,840.90, demonstrating stable growth.

Bajaj Finserv

Opening at ₹1,905.00, Bajaj Finserv saw a high of ₹1,954.40, posting a 2.13% rise, and is now at ₹1,934.50, reflecting continued bullish interest.

HCLTech

HCLTech opened at ₹1,622.00 and peaked at ₹1,658.95, with a 1.92% gain, trading at ₹1,635.00, indicating consistent upward movement.

Mid-Day Top Losers

Here’s a brief market update on the top losers:

IndusInd Bank

IndusInd Bank shares opened at ₹670.2 and dipped to ₹635.45, showing a significant decline of 4.79%, now trading at ₹637.4, reflecting substantial selling pressure.

Dr Reddy

Starting at ₹1,210.30, Dr Reddy dropped to ₹1,167.95, recording a 2.92% loss, with the stock currently at ₹1,174.95, indicating negative sentiment.

Hindalco

Opening at ₹700.45, Hindalco fell to ₹684.5, posting a 1.94% decline, currently trading at ₹687.9, showing weakness in the sector.

Coal India

After opening at ₹408, Coal India shares touched a low of ₹398.35, down by 1.76%, and is now trading at ₹398.85, reflecting market concerns.

Bajaj-Auto

Opening at ₹8,160.00, Bajaj-Auto shares dropped to ₹7,952.00, down by 1.71%, and is currently trading at ₹7,986.30, indicating downward pressure on the stock.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.