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Informist, Tuesday, Mar. 24, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: GSP Corp Science lists at INR 328, 2.5% premium to issue price

 

MUMBAI--1045 IST--Shares of GSP Corp Science listed at INR 328 on National Stock Exchange Tuesday, a premium of over 2.5% to the issue price of INR 320. On the BSE, the shares listed at INR 332.30, a premium of around 4% to the issue price. At 1039 IST, shares of the company traded at INR 330.20 on the NSE, up around 3.2% from the issue price. So far in the day, 7 million shares of the company changed hands on the NSE.

 

The initial public offering of the company, which closed Wednesday, was subscribed 1.6 times, with the company receiving bids for 14.36 million shares, against 8.95 million shares on offer. Ahead of the offer, the company raised INR 1.20 billion from 

anchor investors by issuing 3.75 million shares at INR 320 per share. 

 

GSP Crop Science is an agrochemical company specialising in insecticides, herbicides, fungicides, and plant growth regulators. For the six months ended September, on a consolidated basis, it had posted a net profit of INR 827.83 million on a consolidated revenue of INR 8.44 billion. (Ashvita Chalke)

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Equity Alert: Asian Paints up as crude oil slides, co announces price hikes

 

MUMBAI--1009 IST--Shares of Asian Paints opened almost 3% higher from Monday as investors anticipate de-escalation of hostilities in West Asia, and Brent Crude futures slipped to $103 per barrel. Though crude oil prices are still relatively elevated, the decline is likely to support sentiment.

 

Asian Paints said it will hike prices of its products by 6-8%, more than the earlier anticipated range of 2-5%. The sharp rise in crude oil prices due to West Asia tensions led to the higher-than-expected price hike. The company may implement the hike in two phases, depending on the trajectory of crude prices going forward. However, a near-term adverse impact on the company's margins is still expected, broking firm ICICI Securities said in a report.

 

While competitors Berger Paints and Kansai Nerolac undertook price hikes of 2-3% from April, they may now follow suit and implement steeper hikes, ICICI Securities said. The near-term impact on Asian Pains' margins is factored in by investors with the recent correction in the stock price.

 

At 1006 IST, shares of Asian Paints traded almost 2.2% higher at INR 2,168.20 on the NSE. Over 380,000 shares of the company changed hands on the bourse, higher than nearly 234,000 shares traded till the same time Monday.  (Ruchira Kagita)

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Equity Alert: Indices open higher after Trump defers attacks on Iran

 

MUMBAI--0950 IST--Benchmark indices opened higher after US President Donald Trump said that the US would postpone attacks on Iran's power plants and energy infrastructure for five days following dialogue with Tehran. Post this, crude oil prices fell sharply but came off lows after Iran denied any talks with Washington. Automobile and public sector banks were the major gainers in the indices. 

 

At 0945 IST, the Nifty 50 was at 22730.45 points, up 217.80 points or 1%, and the BSE Sensex was at 73383.63 points, up 687.24 points or 1%. 

 

Shriram Finance and Eicher Motors were the top gainers in the Nifty 50 index, up over 3?ch. Shares of Asian Paints rose over 2?ter several media reports said the company was planning to raise prices of its products by 6-8%. Automobile companies Bajaj Auto, Mahindra & Mahindra, Maruti Suzuki India, and Tata Motors Passenger Vehicles rose 1-3%.

 

InterGlobe Aviation, Titan Co., Eternal, Trent, Adani Enterprises, UltraTech Cement, Apollo Hospitals Enterprises, and Larsen & Toubro rose 2-3%. In contrast, state-owned energy companies Coal India and Power Grid Corp. of India were the worst hit in the index, down around 2?ch.          

 

Trump, post market hours Monday, said that after a "very good and productive" conversation with Tehran regarding a "complete and total" resolution of hostilities in West Asia, the US had decided not to target energy infrastructures and power plants in Iran. After this, crude oil prices fell over 14%. In early trade Tuesday, crude oil prices rose more than $4 per barrel after Iran denied Trump's claim of talks. The May futures of Brent Crude were over the psychological level of $100 per barrel.

          

All the broader market indices rose around 2?ch. Sectoral indices were higher as well, with the Nifty PSU Bank being the best performer. The Nifty PSU Bank rose over 2%. All the constituents of the index traded higher. Shares of Union Bank of India, Indian Bank, Canara Bank, and Punjab & Sind Bank rose 2-3%. 

 

Tube Investments of India was the top gainer among Nifty 200 constituents. The stock rose over 5%. In contrast, Coal India and Power Grid Corp. of India were the worst hit. 

   

In the Nifty 500, JBM Auto was the top gainer, up over 10%. Shares of Kalpataru Projects International rose nearly 6?ter the company said it had received orders worth INR 44.39 billion in its power transmission and distribution business. Olectra Greentech rose over 8%. On the other hand, Chennai Petroleum Corp. and Mangalore Refinery and Petrochemicals were the worst hit, down over 4?ch.  (Adhithya Aji) 

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Equity Alert: Asian indices rise as Trump's comments help ease oil prices

 

MUMBAI--0825 IST--Most Asian indices rose in early trade on Tuesday after US President Donald Trump delayed plans to strike Iran's power and energy facilities for five days after productive discussions with Tehran. While Brent oil prices eased after Trump's comments, they shot back to around $100 per barrel after Iran refuted the US president's claims of any discussions to end the war.

 

May futures of Brent crude oil fell nearly 11% to close at $99.94 per barrel on Monday, propelling a rally in the three major US indices which ended over 1% higher each. At 0751 IST, crude oil prices were up at nearly $104 per barrel. Asian equities have been hit hard by the surge in global crude oil prices since the beginning of hostilities in West Asia.

 

South Korea's Kospi trimmed gains and it was up 1?ter surging 3% in early trade. Japan's Nikkei 225 rose 2% in early trade, partially recovering from the 3.5?ll on Monday. However, it also pared its gains and was up 0.8%. The broad-market Topix continued to remain over 1.5% higher after stabilising food prices and fuel subsidies eased the headline inflation rate in February for the fourth consecutive month, CNBC reported. The consumer price index fell to 1.3% in February from 1.5% in January, the lowest level since March 2022 and below the Bank of Japan's target of 2%, CNBC reported citing data from Statistics Bureau.

 

Following were the levels of major Asian indices at 0811 IST:

 

Index	Level	Change in %
CSI 300 Index	4419.05	0.02
Hang Seng Index	24664.17	1.16
Nikkei 225 Day	51910.42	0.77
TOPIX FIRST SECTION	3543.29	1.63
KOSPI	5452.62	0.87
FTSE Singapore Strait Times	4848.27	0.14
S&P/ASX 200 Index	8397.80	0.38

 

(Shruti Nair)

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Equity Alert: Indices may open higher after Trump defers attacks on Iran

 

MUMBAI--0815 IST--Benchmark equity indices are expected to open higher, tracking gains in their Asian peers after US President Donald Trump, after market hours Monday, said military strikes on Iran's power plants and energy infrastructure had been put off for five days following discussions with Iranian officials. However, Iran denied any talks with the US, saying there has been no dialogue between them. 

 

Following Trump's comments, the May futures contract of Brent Crude plunged over 14% to an intraday low of $96 a barrel Monday, but came slightly off the low and closed the session at $99.94 per barrel. In early trade Tuesday, crude prices rose more than $4 a barrel as markets assessed the supply outlook after Iran denied holding talks with US, Reuters reported. At 0806 IST, the May Futures contract of Brent Crude oil traded at $103.68 per barrel. 

 

Overnight, US stocks rallied after Trump's comments. The Dow Jones Industrial Average and S&P 500 closed 1.4% higher and the technology heavy-Nasdaq Composite settled 1.2% higher Monday. Before Trump's comments, US stock futures pointed to more losses for equity markets. However, after his comments, futures tied to Dow Jones Industrial Average briefly surged more than 1,000 points. Most major equity markets in Asia were also up in early trade, with Japan's Topix First Section leading the gains. In contract, China's CSI 300 index and Singapore's FTSE Singapore Strait Times traded slightly lower at 0744 IST.  

 

Late Monday, Trump told reporters that both Iran and the US want to "make a deal" and that the parties would likely meet by phone on Monday, according to a CNBC report. Meanwhile, Israel and Iran continued to launch strikes overnight, according to media reports. Israeli warplanes bombed Beirut's southern neighbourhood in Lebanon, while Iran fired more missiles at Israel overnight. 

 

"We acknowledge that this is not a done deal yet, with the re-opening of the Strait of Hormuz the critical milestone in the process. However, the probability of peace is significantly elevated and we think markets will aggressively price that in," Brokerage Emakay Global said in a strategy report Tuesday. "The Nifty (50) fell 5% in the last three trading sessions, primarily owing to sustained FPI (foreign portfolio investor) selling. We expect this trend to reverse, and India could emerge as one of the better investment opportunities in the region," Emakay said. The optimism is also expected to spill over to other asset classes, with the domestic currency expected to bounce back to pre-war levels while the 10-year bond yield should drop to around 6.65% from 6.83% currently, the brokerage said.

 

Futures contracts of the Gift Nifty indicate a gap-up open for the Nifty 50 on Tuesday. At 0807 IST, the March contract of the Gift Nifty traded at 22917.50 points, over 400 points higher than the Nifty 50's previous close. "Nifty (50) index is approaching towards crucial support zone placed at 22000-21750 spot levels; the price supports of 21750 also coincide with its 4 years exponential moving average," Vipin Kumaar, senior technical and derivatives analyst at Globe Capital Market, said. On short-term charts, the Nifty 50 index is trading in the oversold territory and, hence, the possibility of some bounceback cannot be ruled out at this juncture, which might lead it towards 22800-23000 spot levels, he said. (Arya S. Biju)

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Equity Alert: US indices rally as Trump postpones strike on Iran power plants

 

MUMBAI--0725 IST--Major stock indices in the US rallied on Monday after comments by US President Trump on postponing strikes on Iranian power plants, citing constructive talks with the country, sent crude oil prices down. On Monday, the May futures of Brent crude closed at $99.94 per barrel, nearly 11% lower than the previous close.

 

"The volatility is likely to continue and it's all about the price of oil. Nothing else really matters to people in the short term. So when oil prices are down, stocks go up and vice versa," Bob Doll, chief investment officer at Crossmark Global Investments, told Reuters. "What's up the most today is not a surprise. It's things ‌with economic sensitivity."

 

All three major indices were up over 1% on Monday, registering their highest single-digit percentage gains in a day since Feb. 6, according to Reuters. All 11 major industry sectors in the S&P 500 rose, Reuters reported. The consumer discretionary sector ended 2.5% higher and other cyclical sectors saw notable gains too. Defensive sectors fared poorly in comparison, with healthcare ending nearly flat and consumer staples ending nearly 0.4% higher. Stocks of airline companies also rallied on the back of the dip in oil prices, with shares of Alaska Air and United Airlines both ending over 4% higher.

 

Further, investors trimmed their expectations of a hike in interest rates by the US Federal Reserve to around 13% for December from above 23% in the previous session, according to the CME Group's FedWatch.

 

Following are the closing levels of US indices Monday:

 

Index	Level	Change in %
S&P 500	6581	1.15
NASDAQ Composite	21946.76	1.38
Dow Jones Industrial Average	46208.47	1.38

 

(Shruti Nair)

 

US$1 = INR 93.84

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

 

Edited by Vandana Hingorani

 

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
NYMEX: New York Mercantile Exchange
SEBI: Securities and Exchange Board of India
RBI: Reserve Bank of India

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