Introduction
Daily new about stock market and global market.
Indian stock market ends flat after selling
Indian stock market ended on a flat note, navigating weak global sentiment amid growing U.S. recession fears.
Concerns over a U.S. economic slowdown by President Donald Trump not ruling out a recession amid tariff policies, led to further selloff in Indian IT stocks, as they generate 50-70% of revenue from U.S. market.
The Nifty IT index fell 1.44%, becoming the worst sectoral performer, followed by losses in Nifty Bank, Nifty Auto, Nifty Media, Nifty Consumer Durables, and Nifty PSU Bank (down 0.12%-1.36%).
Morgan Stanley expects Indian equities to rebound in 2025, transitioning into a stock picker’s market rather than one driven by macro factors.
Foreign Portfolio Investors flow could reverse as Dollar Index has drop 6% from its peak, & India’s positioning in EM fund is at decade low.
Indian rupee ends at 87.21/$ on Tuesday vs Monday’s close of 87.33/$
Govt is bring back merchant charge on UPI
The government is evaluating a proposal to reintroduce merchant discount rate (MDR) on UPI and Ru Pay with debit card transactions, which are currently free for merchants.
The banking industry has formally requested the government to reinstate MDR for large merchants (annual turnover above Rs 40 lakh, based on GST filings).
A tiered pricing model is being considered, where small merchants (below Rs. 40 lakh turnover) would continue to enjoy zero MDR, while larger businesses would pay higher charges.
Industry experts argue that large merchants already pay MDR on Visa, Mastercard, and credit card transactions, so similar charges on UPI and Ru Pay should not be undue burden.
If we believe the word of industry experts, they say that the big merchant armies which are having turnover of more than 40 lakh,
which also comes under the name of GST, they already sit with Visa, MasterCard devices and whatever is swiped they take charges up to 2 percent on it, they do not have any problem in paying money above the rupee.
If you come to the shopkeeper and make the payment through you today, then he will say, it is fine, show it to me.Okay, one or two percent extra was charged,
it is a solid bill for the fourteen, on the Delhi GST bill in Delhi, he will take two percent extra from you, have you experienced it or not?
Maharashtra govt announce 6% tax on EVs
M&M shares fell over 3%, continuing recent declines after hitting a 52-week high
Ashok Leyland shares dropped nearly 3%, extending a 17% decline over the last six months.
Maharashtra’s Budget proposed:
1% hike in motor tax on CNG four-wheelers (currently 7-9%).
6% tax on EVs priced above Rs 30 lakh, expected to generate Rs 170 crore in revenue.
7% tax on construction and light goods vehicles, estimated to bring in Rs 625 crore.
The tax changes take effect from April 1, FY26. Maharashtra, the second-largest EV market in India, has registered 4.39 lakh EVs between 2019-2024, behind Uttar Pradesh.
Indian co. to launch diabetes medicine at 90% lower prices
Indian pharmaceutical companies are set to launch generic versions of Empagliflozin following the expiration of Boehringer Ingelheim’s patent on March 11.
Prices are expected to drop sharply, with Mankind Pharma planning to sell for about ₹6 per tablet
Other generics will likely be priced between 19 and 14 per tablet, significantly reducing diabetes treatment costs.
India has 10.1 crore diabetes patients, many of whom pay out-of-pocket for treatment.
Empagliflozin market is valued at ₹640 crore,
the drug is widely used for reducing heart failure hospitalizations, slowing chronic kidney disease progression & improving survival rates.
Lahori Zeera profit 3x to Rs. 22.5 crore in FY24
profit tripled to ₹22.5 crore in FY24 from ₹7.6 crore in FY23,
driven by a 47% revenue increase and controlled costs.
Procurement was the largest cost center, accounting for 66% of total expenses, rising 35.3% to 184 crores in FY24.
The company spent ₹0.89 to earn a rupee, with ROCE at 15.36% and EBITDA margin at 13.65%. Total current assets stood at ₹76 crore, including 38 crores in cash & bank balances.
CEO Saurabh Munjal aims for ₹500 crore in revenue in the current fiscal year. The company is in advanced discussions with Motilal Oswald to raise ₹400-450 crore.
There are concerns about the company’s ability to manage growth effectively and avoid excessive stock dumping.
Zepto to increase its Domestic Shareholding
Zepto plans to increase domestic shareholding ahead of its IPO filing.
Options under consideration:
Founders raising $100M-$150M in debt to buy shares from existing investors.
Setting up an Indian Alternative Investment Fund (AIF) to transfer part of overseas shareholding.
Company to increase domestic shareholding by 8% before confidential IPO filing.
Move comes amid increased scrutiny of quick commerce platforms in India.
Zepto earlier approached mutual funds for a $300M share sale ahead of its IPO. IPO size expected to be $800M-$1B, including secondary sales.
Groww launch Wealth Management Brand ‘W’
Groww is entering the wealth management space under a new brand, ‘W.’
W will offer portfolio management services (PMS) and alternative investment funds (AIF) to Groww’s 15 million affluent users.
The company is also exploring an acquisition to strengthen its wealth management business.
To cater to high-net-worth individuals (HNIS), Groww aims to establish an omnichannel presence, including a physical footprint.
It reported a 119% revenue increase in FY24 to ₹3,145 crore, with operational profitability rising to ₹535 crore.