Indian markets staged a sharp rebound on Monday, with the BSE Sensex surging 938.93 points or 1.26% to close at 75,502.85 and the NSE Nifty50 climbing 257.70 points or 1.11% to settle at 23,408.80. According to reports from Business Today, the rebound was driven by buying interest in select heavyweights including HDFC Bank Ltd, Reliance Industries Ltd (RIL), ICICI Bank Ltd, State Bank of India (SBI), Mahindra & Mahindra (M&M), Bajaj Finance Ltd, ITC, UltraTech Cement Ltd, Axis Bank Ltd and Eternal Ltd. The recovery paused a steep three-session slide and supported the Nifty back above the 23,400 mark after testing sub-23,000 levels intraday. As per The Hindu BusinessLine, these stocks are expected to remain in focus on Monday, with the market showing strong momentum across key sectors.
Reliance Industries Limited (RIL) announced a significant development by signing a binding long-term Supply and Purchase Agreement (SPA) with Samsung C&T Corporation, South Korea, for the supply of Green Ammonia over a 15-year period commencing in the second half of FY2029. As reported by The Hindu BusinessLine, the SPA, valued at more than $3 billion, is one of the largest binding long-term Green Ammonia off-take agreements globally. The agreement sets a new benchmark in the global energy landscape, with India emerging as an exporter of green fuels produced through an end-to-end value chain anchored in the country, including the domestic manufacturing of critical clean-energy equipment, aligned with India's National Green Hydrogen Mission (NGHM).
Tata Motors announced an increase in prices of commercial vehicles by up to 1.5% with effect from April 1, as reported by The Hindu BusinessLine. The price hike is being undertaken to partially offset the impact of rising commodity prices and other input costs, demonstrating the company's proactive approach to managing cost pressures in the current market environment. The increase will vary depending on the model and variant, with the company implementing the adjustment across its commercial vehicle range.
Ola Electric has initiated a plan to raise up to ₹2,000 crore by selling a stake in its battery arm, Ola Cell Technologies (OCT), according to reports from The Economic Times. OCT owns the Tamil Nadu-based lithium-ion cell manufacturing plant with 1.5 GWh of operational capacity and plans to scale to 6 GWh by the end of this financial year, indicating significant expansion plans in the battery manufacturing sector.
Market veteran Arun Kejriwal advised investors to avoid panic selling amid the ongoing volatility, telling Business Today that "the one thing that I would ask investors not to do is panic at this level and sell what they own. Hold on. You need to have patience. Probably the end of March will show a lot of clarity." He emphasized that "the clear message to investors: Don't panic, be patient." Kejriwal noted that the banking sector plays a critical role in driving economic growth, stating that "if the economy has to do well, banking will always be something which has to perform."
