ZeroBizz Weekly is here! Stay ahead of the game with the biggest market moves and business trends shaping the week.
From JSW Group’s mega steel plant with POSCO to Tata Capital’s much-anticipated IPO and Coforge’s $1.56 billion deal, we’ve got all the insights you need.
Get ready for a power-packed edition covering stock surges, industry shakeups, and the latest in finance & tech. Let’s dive in!
JSW Group and POSCO Sign MoU for 5 MTPA Steel Plant in India
JSW Group has signed a Memorandum of Understanding (MoU) with South Korea’s POSCO Group to establish a 5 million tonnes per annum (MTPA) integrated steel plant in India.
The collaboration aims to meet rising steel demand and expand India's manufacturing capabilities. Additionally, the partnership will explore battery materials and renewable energy initiatives, aligning with India's push for green mobility and sustainability.
The MoU was signed in Mumbai by JSW Chairman Sajjan Jindal and POSCO Chairman Chang In-hwa, marking a significant step in strengthening Indo-Korean economic ties and promoting sustainable industrial practices.
Tata Investment Corp Shares Rise 2.39% on Tata Capital IPO Plans
Tata Investment Corporation Ltd surged 2.39% to ₹6075.05 on Tuesday after reports of Tata Capital’s planned IPO, targeting a valuation of up to $11 billion and aiming to raise $2 billion. With a 2.2% stake in Tata Capital, Tata Investment Corp stands to benefit from the listing.
Trading activity spiked, with 141,000 shares exchanged, matching the 30-day average. Despite the rally, the stock remains down 13% year-to-date, as investors closely watch Tata Capital’s IPO impact on its valuation.
Macquarie Reaffirms Bullish Stance on Titan Despite Market Weakness
Global brokerage Macquarie has reaffirmed Titan Company Ltd as its top pick in India's consumer sector, despite the stock falling 1.81% intraday amid broader market weakness.
Titan’s competitive edge in gold lease costs and its potential entry into lab-grown diamonds were highlighted as key growth drivers. While rising global gold lease costs impact smaller jewelers, Titan benefits from lower rates due to its scale.
The stock is down 7% YTD, underperforming the Nifty 50 (-6.7%), but analysts remain optimistic, with a median price target of ₹3,854.50. Investors are watching gold prices and Titan’s lab-grown diamond strategy for future growth.
Coforge Surges 5.5% on $1.56 Billion Deal with Sabre Corporation
Shares of Coforge Ltd jumped 5.5% to ₹7,609.55 on Tuesday, breaking a four-session losing streak after announcing a $1.56 billion, 13-year partnership with U.S.-based Sabre Corporation.
The deal strengthens Coforge’s travel and hospitality tech sector presence, securing long-term revenue growth. The stock outperformed the NIFTY IT Index (+1%) but remains down 21% YTD, underperforming the index’s 14% decline.
Analysts view the partnership as a positive long-term catalyst, with Coforge among the few “buy”-rated stocks in the NIFTY IT Index. Investors await earnings updates to gauge the financial impact.
Granules India Drops 2.4% After US FDA Warning Over Contamination Issues
Shares of Granules India Ltd fell 2.4% to ₹460 on Tuesday after the US FDA issued a warning letter citing hygiene lapses and contamination risks at one of its manufacturing facilities.
Inspectors found bird droppings, residual compounds, and microbial contamination in air ducts and storage tanks, raising safety concerns. The stock has now lost 21% YTD, underperforming the Nifty Pharma Index (-15%).
Analysts warn of potential regulatory delays, higher compliance costs, and export restrictions if the issues aren’t resolved. Investors await the company’s response and corrective action plan (CAPA) to address FDA concerns.
Solex Energy Surges 4.2% as 800 MW Solar Module Plant Goes Live
Shares of Solex Energy Ltd jumped 4.2% to ₹733 on Tuesday after the company began full-scale commercial production of solar PV modules at its 800 MW facility in Surat, Gujarat, on March 4, 2025. The expansion strengthens Solex’s position in India’s renewable energy market, aligning with the country’s 500 GW clean energy goal by 2030.
In FY24, Solex’s net profit soared 222.1% to ₹8.73 crore, with revenue surging 126.3% to ₹365.92 crore. Investors see the new facility as a key growth driver, enhancing Solex’s market presence in the booming solar energy sector.
Zydus Lifesciences Gains 3.33% on US FDA Approval for Generic Leukemia Drug
Zydus Lifesciences' stock rose 3.33% to ₹917.10 after receiving US FDA approval to manufacture and market generic Dasatinib Tablets, used to treat leukemia (Ph+ CML & Ph+ ALL). The drug, a generic version of Sprycel, will be produced at Zydus’ Ahmedabad facility, targeting the $1.8 billion US market.
This marks Zydus’ 415th USFDA approval, reinforcing its global presence in oncology and generics. In Q3 FY25, Zydus reported a 29.62% rise in net profit (₹1,023.5 crore) and a 16.96% YoY revenue surge (₹5,269.1 crore), signaling strong growth momentum.
Zaggle Prepaid Ocean Services Jumps 5% on Strategic Partnership with Tech Mahindra
Zaggle Prepaid Ocean Services' shares rose 5% to ₹378.35 after announcing a partnership with Tech Mahindra through the Zatix Service Agreement.
Tech Mahindra will use Zaggle’s Spend Management Dashboard, Zatix, to manage corporate and purchase card expenses issued with SBI Cards. The agreement is set to be executed within one year.
Zaggle, a leading fintech and SaaS provider, reported strong Q3 FY25 results, with net profit rising 29.8% YoY to ₹19.75 crore and revenue surging 68.9% YoY to ₹336.89 crore, signaling robust growth in the financial technology space.
Angel One Gains 1.16% as Client Base Expands, Despite Decline in Trading Volumes
Shares of Angel One rose 1.16% to ₹2,127.70 after the company reported a 42.7% YoY increase in its client base to 30.58 million in February 2025. However, gross client acquisition dropped 52.1% YoY to 0.49 million.
The company’s Average Daily Turnover (ADTO) fell 34.5% YoY to ₹29,58,000 crore, with the F&O segment declining 35.4% YoY and the cash segment down 29.3% YoY. However, the commodity segment ADTO surged 91.3% YoY.
Financially, Angel One’s Q3 FY25 net profit rose 8.1% YoY to ₹281.47 crore, while revenue increased 19.2% YoY to ₹1,262.21 crore, reflecting strong overall growth despite trading volume declines.
Reliance Industries Gains 1.81% on Positive Brokerage Ratings
Shares of Reliance Industries Ltd rose 1.81% to ₹1,196.90 after receiving bullish endorsements from foreign and domestic brokerages.
A leading foreign brokerage maintained a "buy" rating with a ₹1,600 target, citing potential growth in retail and telecom. Meanwhile, a domestic brokerage upgraded RIL to "buy" with a ₹1,400 target, citing an improved risk-reward outlook.
Financially, RIL posted a record ₹21,930 crore net profit in Q3 FY25, up 12% YoY, with revenue rising 7.7% YoY to ₹2,67,186 crore.
The company’s EBITDA increased 7.8% to ₹48,003 crore, driven by strength across its retail, telecom, and energy businesses.
RVNL Secures Railway Electrification Project Amid Financial Decline
Rail Vikas Nigam Limited (RVNL) has undertaken a 2X25 KV overhead electrification (OHE) and power supply installation (PSI) project for the Rayadurga-Topavagada section of the Tumakuru-Rayadurga railway line.
The contract, which includes electrical and telecom works, is expected to be completed in 18 months, supporting Indian Railways' electrification drive.
Despite securing key projects, RVNL reported a 13.14% YoY decline in Q3 FY25 net profit to ₹311.44 crore, with revenue falling 2.60% to ₹4,567.38 crore. Challenges such as project execution delays and fluctuating costs contributed to the decline.
With government investments in railway modernization and electrification, RVNL remains a key player in India’s infrastructure expansion, positioning itself for long-term growth despite short-term financial pressures.
Post a Comment