Despite a sharp market downturn that erased ₹5.6 lakh crore in investor wealth, select gas and water-related stocks delivered strong gains. Adani Total Gas emerged as the standout performer, ending the session locked in a 20% upper circuit following the company's announcement that domestic piped natural gas (PNG) and compressed natural gas (CNG) for transport have received priority allocation under a recent government order. The rally was further supported by supply disruptions linked to the Middle East conflict that have pushed up demand for alternative fuel sources. Jindal SAW surged 20% after the government extended the Jal Jeevan Mission until 2028, with the development lifting other pipe makers as well. Recent market data shows continued strength with EMS leading gains at 20% and water pump stocks like Shakti Pumps, Kirloskar Brothers, Roto Pumps, EMS Limited, Denta Water and Infra Solutions, Indian Hume Pipe Company, and Vishnu Prakash R Punglia rallying up to 20%.
Several companies have secured significant contracts and announced major expansions that position them for growth. KEC International has secured new orders worth ₹1,476 crore for Transmission & Distribution projects across India, West Asia, Africa, and the Americas. The orders include 380 kV transmission lines, substations and EHV cabling in Saudi Arabia, 132 kV transmission lines in Africa, and supply of towers and hardware in the Americas. Ashok Leyland announced the ground-breaking of a ₹400-500 crore greenfield battery pack manufacturing facility at Pillaipakkam near Chennai, as part of investments from the Hinduja Group under an earlier MoU signed in September 2025. Wipro has entered into a multi-year contract for business and technology modernisation for TruStage's retirement services business, transforming the insurance and financial services provider's core retirement services operations and technology stack.
The extension of the Jal Jeevan Mission implies additional work in building and strengthening water supply infrastructure, including intake structures, treatment plants, transmission pipelines, storage reservoirs, and distribution systems. Jindal SAW, a leading global manufacturer of iron and steel pipe products for the water industry, surged 20% after the government extended the Jal Jeevan Mission until 2028. The development lifted other pipe makers as well, with Apollo Pipes, Astral Limited, and Jain Irrigation Systems rising up to 9% on March 11. Water pump manufacturers also witnessed strong buying interest following the mission's extension, with stocks such as Shakti Pumps, Kirloskar Brothers, Roto Pumps, EMS Limited, Denta Water and Infra Solutions, Indian Hume Pipe Company, and Vishnu Prakash R Punglia rallying up to 20%. The programme's total outlay has been increased to ₹8.69 lakh crore, while the Centre's contribution has been raised to ₹3.59 lakh crore from ₹2.1 lakh crore allocated in 2019–20, with the remaining funding provided by state governments.
Omnitech Engineering has entered a Master Purchase Agreement with Weatherford Products GmbH, establishing a 5-year framework for product supply commencing March 11. The international agreement carries an approximate annual value of $2,01,04,120 plus GST (around ₹184 crore), totalling nearly ₹920 crore over five years subject to terms. Wipro has entered into a multi-year contract for business and technology modernisation for TruStage's retirement services business, transforming the insurance and financial services provider's core retirement services operations and technology stack.
Indo SMC has received a significant commercial order worth ₹20.89 crore for the supply of 3,000 busduct units up to 400A with assembly from a customer in the metals and mining industry. Aether Industries informed exchanges about a fire incident at an external warehouse in Surat, with all facilities observing normal operations without disruption. India Homes Ltd has received sanction for a One Time Settlement with J. C. Flowers Asset Reconstruction Private Limited in respect of all its secured borrowings, after which all secured borrowings would have been paid off.
