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Informist, Friday, Mar. 13, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: PG Electroplast at 1-year low as gas shortage hits production

 

MUMBAI--1110 IST--Shares of PG Electroplast fell nearly 8% to an almost one-year low of INR 490.65 after CNBC-TV18 reported the company's production operations were hit by the shortage of gas supply. The lack of gas supply is also expected to affect the company's revenue guidance for 2025-26 (Apr-Mar), CNBC-TV18 reported. The stock extended its losses for the second session, shedding almost 11% during this period.

 

The electronic manufacturing services provider's one week of production was lost across its air conditioner manufacturing plants due to gas shortage, according to the report, quoting Vikas Gupta, the company's managing director of operations, as saying. The company, which uses liquified petroleum gas for bracing and welding copper tubes, is exploring alternatives to LPG, Gupta was quoted as saying in the report. The availability of polymer and a 40–50% jump in prices are a cause of concern, according to Gupta.

 

The US-Iran conflict in West Asia has largely affected the gas production operations in Qatar, the world's second-largest exporter of liquefied natural gas. This urged Shell, the world's largest LNG trader, to declare a Force Majeure on LNG contracts from Qatar, according to various news reports. Qatar announced a production halt at its 77 million tons per annum facility last week and declared force majeure on LNG shipments.

 

At 1058 IST, shares of PG Electroplast were nearly 5% lower at INR 507.25 on NSE. So far, over 6 million shares of the company have changed hands on the exchange, higher than over 1 million shares traded till the same time Thursday.

 

All the four brokerage reports available with Informist on the company have a 'buy' recommendation on the stock with an average target price of INR 758.  (Arundathi A R)

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Equity Alert: Higher e-auction premiums beneficial for Coal India, says HSBC  

 

MUMBAI--1025 IST--Higher electronic auction premiums are supportive for Coal India in the near term, according to HSBC. The brokerage has hiked the target price of Coal India's stock by 11% to INR 420 from INR 380 and maintained a 'buy' recommendation on the stock. Higher gas prices and regional coal prices are boosting e-auction premiums and volumes, NDTV Profit reported, citing HSBC. 

 

However, the earnings estimates for 2027–28 (Apr-Mar) remain unchanged as oversupply of domestic coal remains a concern and weak thermal energy demand could pressure premiums for the long term, HSBC said. The current outperformance of the stock is driven by supply constraints of gas globally due to the ongoing military action between the US and Iran in West Asia, according to the brokerage. HSBC is of the view that the recent gains may fade once gas supplies normalise, the report said. 

 

At 1023 IST, shares of the company were nearly 1% lower at INR 465.60. Over 7 million shares of the company changed hands so far in the day, which is higher than nearly 3 million shares traded till the same time Thursday. The stock fell after hitting a more than one-year high of INR 476 in the early minutes of trade. Shares of the company fell after rising for three consecutive sessions. The stock gained over 8% during the period. Over a period of 30 days, the stock gained nearly 14%.  (Adhithya Aji)

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Equity Alert: Mkts open lower for 3rd session amid higher crude oil prices 

 

MUMBAI--0944 IST--Indices opened lower for the third consecutive session as crude oil prices remain elevated. Amid the escalating West Asia conflict, the new supreme leader of Iran said that the strategically vital maritime route, the Strait of Hormuz, will be closed as a "tool to pressure the enemy." This weighed on the crude oil supply disruptions worries, and the prices remain above $100 per barrel. Automobile and metal stocks were the major drag on the Indian indices.

 

At 0944 IST, the Nifty 50 was at 23431.15 points, down 208 points, or 0.9% and the BSE Sensex was at 75412.11 points, down 622.31 points, or 0.8%. Most of the stocks in the Nifty 50 were trading lower in the early minutes.   

 

State-owned energy companies Coal India and Power Grid Corp. of India were the top gainers in the 50-stock index. They were up around 1?ch. Fast moving consumer goods companies Hindustan Unilever, Nestle India, and ITC rose around 1% as well. Larsen & Toubro fell nearly 3%. The company's operations have major exposure to West Asia, where the military conflict between the US, Israel, and Iran is continuing.

 

Automobile stocks Eicher Motors, Bajaj Auto, Tata Motors Passenger Vehicles, Maruti Suzuki India, and Mahindra & Mahindra fell around 1?ch. Metal stocks in the index Tata Steel and Hindalco Industries were the worst hit stocks in the index. They were down nearly 4% and 3%, respectively. Their peer, JSW Steel, fell over 2% as well. InterGlobe Aviation, UltraTech Cement, Eternal, Bharat Electronics, and Shriram Finance were down around 2?ch.  

 

In the Nifty 200, NTPC Green Energy was the top gaining stock, up nearly 6%. Adani Total Gas and Adani Energy Solutions rose around 2?ch in the index. The metal stocks National Aluminium Corp., Hindustan Zinc, Tata Steel, and APL Apollo Tubes were worst hit in the index, down 3–4%.

 

Among the Nifty 500 constituents, IFCL was the top gaining stock, up nearly 10%. Shares of ACME Solar Holdings rose over 7% as well. KPR Mills was the worst hit stock in the index, down over 7%.  (Adhithya Aji)  

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Equity Alert: Most Asian mkts open lower as crude oil prices continue to rise

 

MUMBAI--0820 IST--Most Asian indices opened lower as crude oil prices continued to climb amid escalating tensions in the US-Iran war. On Thursday, Iran's Supreme Leader Mojtaba Khamenei said that the strategically vital Strait of Hormuz would remain shut as a "tool to pressure the enemy". MSCI's broadest index of Asia-Pacific shares fell 0.5% in early trade, setting itself up for a 1.5% weekly decline. Indices on the Wall Street closed lower on Thursday, which also weighed on Asian peers. 

 

Japan's Nikkei index fell over 1%. Shares of Honda, Ebaba Corp., and SoftBank Group fell around 5?ch. South Korea's benchmark KOSPI index was down over 1% as well. The heavyweight Samsung Electronics was down nearly 2% in the index. Hong Kong's Hang Seng Index was down 0.25%, meanwhile CSI 300 Index traded marginally higher.       

 

Amid growing geopolitcal uncertainties, the US dollar has become the safe-haven choice for investors, placing most ‌Asian currencies under pressure. The dollar was set for a second consecutive week of gains, rising 2% since the war broke out at the end of February, Reuters reported. 

 

Crude oil prices continued to gain momentum, rising above $100 per barrel again, after fresh threats from Iran to keep the Strait of Hormuz shut. Asian countries, which are net importers of oil, felt the heat. Analyts from Goldman Sachs estimate Brent crude oil to average $98 per barrel in March and April, up 40% from the average in 2025 for the same period, CNBC reported.  

 

Following are the levels of key Asian indices at 0820 IST :

 

Index	Level	Change in %
CSI 300 Index	4696.25	0.19
Hang Seng Index	25651.78	(-)0.25
Nikkei 225 Day	53786.4	(-)1.22
TOPIX FIRST SECTION	3630.91	(-)0.52
KOSPI	5515.21	(-)1.29
FTSE Singapore Strait Times	4865.02	0.20
S&P/ASX 200 Index	8639.3	0.12

 

(Shruti Nair)

 

 

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Equity Alert: Indices may open lower as oil prices remain above $100/barrel

 

MUMBAI--0815 IST--Benchmark indices are expected to open a tad lower Friday as oil prices remained higher at around $100 a barrel amid fears of a prolonged conflict in West Asia. The May futures contracts of Brent crude oil came slightly off highs in early trade after the US issued a 30-day licence for countries to buy Russian oil and petroleum products as a step to stabilise global energy markets. However, it rose again and was at $100.48 per barrel at 0812 IST.

 

Late Thursday, Iran's Supreme Leader Mojtaba Khamenei said that the closure of the Strait of Hormuz should be continued as a "tool to pressure the enemy." He also said that all US military bases in West Asia should close immediately and those bases would be attacked. 

 

Adding to the negative sentiment, the International Energy Agency slashed its forecast for global oil demand and supply this year in view of the continuing military conflict in West Asia. Supply in March is expected to drop 8 million barrels per day to 98.8 million barrels per day, the lowest levels since the first quarter of 2022. "The war in the Middle East is creating the largest supply disruption in the history of the global oil market," the IEA said. 

 

However, Oil Minister Hardeep Singh Puri Thursday said that India is positioned better than most of its peers with supplies flowing in from diversified sources. The world is facing an energy crisis of the current scale for the first time, but India's crude supply position is secure, with no shortage of aviation turbine fuel, petrol, diesel, kerosene, or fuel oil, Puri said in a statement in the Lok Sabha. 

 

Foreign portfolio investors remained net sellers Thursday, selling Indian equities worth INR 70.50 billion. Meanwhile, domestic institutional investors continued to be net buyers, buying equities worth around INR 74.50 billion. 

 

On the data front, India's retail inflation remained benign in February and broadly in line with economists' expectations. However, the ongoing war in West Asia risks raising consumer goods prices, bringing to an end the period of record low inflation, according to economists.

 

The GIFT Nifty indicates a negative opening for the domestic markets Friday. At 0758 IST, the March futures contract of GIFT Nifty traded at 23548.50 points, down around 91 points from the previous closing level of Nifty 50. "The Nifty 50 index is heading towards our previously stated downside targets of 23400–23200 spot levels. We reiterate our sell-on-rise trading approach for Nifty 50 index," Vipin Kumaar, assistant vice-president, technical and derivatives, Globe Capital Market, said. Intraday resistance is placed around 23700–23800 spot levels and support is seen around 23400 levels, Kumaar said.  (Arya S. Biju)

 

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Equity Alert: US indices tumble on surge in crude prices; bk stocks big drag

 

MUMBAI--0730 IST--US indices closed lower Thursday as developments in the US-Iran conflict showed little signs of relenting. All major indices tumbled, closing roughly 2% lower as crude oil prices climbed higher for the third consecutive session after comments made by Iran regarding the Strait of Hormuz. The Dow Jones Industrial Average ended at its lowest level in a month, slipping below 47000 points. On Thursday, three more ships were attacked in the strait, exacerbating anxieties about a prolonged conflict in West Asia.

 

The fall in the stocks of banks and technology companies was a drag on the indices after Morgan Stanley limited withdrawals of private credit funds. Morgan Stanley's private income fund received redemption requests totalling 10.9% of outstanding shares in the first quarter. The fund said it would honour only 5% of requests received amounting to $169 million, CNBC reported. On Thursday, shares of Morgan Stanley fell 4%. Shares of other major players in the financial services space also fell, with Blackstone, Apollo, and KKR down over 1?ch, according to CNBC. 

 

On Thursday, prices of crude oil futures rose 9?ter Iran's Supreme Leader Mojtaba Khamenei said in a statement read on state television that the Strait of Hormuz would remain shut as "a tool to pressure the enemy". He warned that all US bases in West Asia should be shut immediately, Reuters reported. On Wednesday, an official from Iran warned that prices of oil could climb to $200 per barrel. 

 

Following are the closing levels of US indices Thursday:

 

Index	Level	Change in %
S&P 500	6672.62	(-)1.52
NASDAQ Composite	22311.98	(-)1.78
Dow Jones Industrial Average	46677.85	(-)1.56

 

(Shruti Nair)

 

US$1 = INR 92.42

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Deepshikha Bhardwaj

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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NYSE: New York Stock Exchange
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