Adani Green Secures ₹9,258 Crore Debt

• After heavy selling in the previous session, Indian markets saw some buying on March 3, attempting a recovery after frontline indices marked their longest monthly losing streak since 1996.

• The session opened in the green but quickly turned negative, with both indices losing 0.5% by noon. A rebound in metals, realty, and IT stocks helped recover losses in the second half, while oil & gas and financial services stocks remained under pressure.

• Investor caution persists amid escalating trade tensions, prompting a shift toward safe-haven assets. Donald Trump's tariff announcements on U.S. imports have unsettled markets, raising fears of a full-blown trade war if affected countries retaliate.

• Domestically, India’s economy grew 6.2% year-on-year in Q3 FY24, rebounding from a seven-quarter low and exceeding the revised 5.6% growth in Q2. However, global uncertainties continue to weigh on sentiment.

TVS Motor Company +4.79%

• TVS Motor Company shares rose 3% in early trade after reporting strong February 2025 sales, which grew 10% to 4,03,976 units from 3,68,424 in February 2024.

• Positive sentiment extended across the auto sector, with M&M, Ashok Leyland, and Eicher Motors gaining up to 4% as investors responded to robust monthly sales data.

Angel One (8.77%)

• Angel One Ltd shares dropped to an intraday low of ₹1,952.25, marking their sixth consecutive decline.

• The stock has fallen nearly 17% over the past six sessions. Weakness in capital market-focused stocks has deepened amid broader market declines, global trade tension concerns, and persistent FII outflows, impacting sentiment in the financial services sector.

• NSE launches the Nifty India Internet & E-Commerce Index containing new-age tech companies like Zomato, Swiggy, Info Edge, etc. (BS)

• SEBI allows all NBFCs and HFCs to invest in security receipts issued by ARCs. (BS)

• Qatar to witness full UPI rollout soon, says Indian Ambassador. (MC)

• Pranav Constructions files IPO papers for a ₹392 crore ($44.8Mn) fresh issue. (MC)

• Rupifi to raise ₹17.4 crore ($2Mn) through a rights issue. (EN)

There are no mainboard IPOs this week.

M&A / Investments

• Jindal Power to acquire Bhadreshwar Vidyut for ₹500 crore ($57.2Mn). (BS)

• Metropolis acquires Scientific Pathology for ₹83 crore ($9.5Mn). (BS)

• Mintoak secures India's first e-rupee deal worth ₹30 crore ($3.5Mn), acquires Digiledge. (Inc42)

• GaragePlug acquires Freshreview, a review management platform. (EN)

Debt

• Adani Green raises ₹9,258 crore ($1.06Bn) for debt refinancing, its first since the US indictment. (BS)

VC

• Together Fund aims to finalize its ₹1,310 crore ($150Mn) Fund II by June. (TOI)

• Aviral Bhatnagar raises ₹100 crore ($11.4Mn) for his debut pre-seed fund. (YS)

• PwC India launches an accelerator program for emerging tech startups. (YS)