Elon's Starlink to Disrupt India’s Internet

• Indian stock markets ended flat on March 11, overcoming weak global cues amid concerns over a U.S. economic slowdown after President Donald Trump did not rule out a recession due to U.S. tariffs.

• After opening lower in line with weak Asian markets, equities recovered lost ground to close largely unchanged.

• Analysts believe Indian stocks have already priced in global uncertainties following recent corrections, limiting further downside. However, recession fears triggered sell-offs in technology stocks, given their significant U.S. exposure.

• Morgan Stanley expects Indian equities to rebound in 2025, shifting to a stock-picker’s market rather than one driven by macro factors. The brokerage sees U.S. reciprocal tariffs as a minor risk and finds large-cap valuations attractive after the recent dip.

Bharat Electronics +1.93%

• Bharat Electronics Ltd (BEL) gained around 2% after securing fresh orders worth ₹843 crore, taking its total FY25 order inflows to ₹14,567 crore.

• The contracts include RF seekers, radar upgrades, vessel and air traffic management systems, electro-optic repair facilities, spares, and services.

Indusind Bank (27.06%)

• IndusInd Bank shares plunged 27% after estimating a ₹1,530 crore adverse impact due to discrepancies in its derivative portfolio.

• An internal review, conducted per RBI’s September 2023 directives on lenders' investment portfolios, found issues in the ‘Other Asset and Other Liability’ accounts, affecting net worth by 2.35%.

• MSMEs played a key role in lifting India out of the 'Fragile Five.' (ET)

• Airtel partners with SpaceX to launch Starlink in India. (BS)

• India's employment outlook jumps 43% in Q2 2025. (ET)

• India’s healthcare sector attracts record investments amid consolidation and tech-driven growth. (YS)

• Ather Energy targets a ₹13,952 crore ($1.6Bn) valuation for its IPO. (NDTV)

• Crizac gets SEBI nod for ₹1,000 crore ($114Mn) IPO. (NDTV)

There are no mainboard IPOs this week.

M&A / Investments

• Axis Bank plans to raise up to ₹4,000 crore ($458Mn) by selling a stake in Axis Finance. (BS)

• Zydus Lifesciences to acquire an 86% stake in Amplitude Surgical for ₹2,430 crore ($278Mn). (BS)

• TCS acquires Darshita Southern India Happy Homes for ₹2,250 crore ($258Mn). (YS)

• Godrej Agrovet to acquire a 48% stake in Creamline Dairy for ₹930 crore ($106Mn). (BS)

• Murugappa Group to buy 49% in Nagarjuna Agrichem for ₹735 crore ($84Mn). (ET)

• Singularity AMC to invest ₹500 crore ($57Mn) in Bhilwara Energy. (HBL)

• Supreme Industries to acquire Wavin India's pipe business for ₹261 crore ($30Mn). (ET)

• Perfios acquires Credit Nirvana to enhance AI-driven debt management. (YS)

VC

• Change Engine accelerator to invest ₹43.6 crore ($5Mn) in early-stage AI startups. (EN)