Quick Commerce Kills Traditional Retail?

• Indian stock markets rebounded on Monday, March 17, after last week's volatility, as gains in financials, pharma, and auto stocks lifted key indices.

• The rally was fuelled by Wall Street's relief rally on Friday, which carried into Asian markets. Additionally, China's new measures to boost domestic consumption drove gains in metal stocks.

• IT and oil & gas stocks saw some recovery, while FMCG and realty stocks remained under pressure. Broader markets also surged as mid- and small-cap stocks rebounded.

• A weaker U.S. dollar, hovering at a five-month low amid economic concerns, further supported the rally.

KEC International +8.20%

• KEC International surged nearly 6% after winning ₹1,267 crore in new orders across multiple segments.

• Its Transmission & Distribution (T&D) business secured key contracts, including 800 kV HVDC and 765 kV transmission line orders from PGCIL, along with supply deals in the Americas.

Wipro (1.53%)

• Wipro Ltd. extended its losing streak to six sessions, falling 1.76% amid sustained selling pressure.

• This decline persists despite the company's recent realignment of its global business lines to strengthen client positioning and capitalize on AI, cloud, and digital transformation opportunities.

• RBI liquidity boost could accelerate lending rate cuts. (ET)

• India considers cutting tariffs on U.S. medical devices in trade talks. (ET)

• Retailers see 52% drop in essential goods sales in urban areas as quick commerce rises. (ET)

This week’s mainboard IPO schedule

• Arisinfra Solutions

  • Offering Period: 20 March - 25 January, 2025

  • Listing Date: March, 2025

  • Issue Price: TBC

  • Lot Size: TBC

M&A / Investments

• Bajaj Finserv to acquire Allianz's 26% stake in insurance JVs for ₹24,180 crore ($2.7Bn). (BS)

• Norway's Statkraft plans to sell India assets for ₹17,383 crore ($2Bn). (ET)

• Blackstone offers to buy 26% in Kolte-Patil for ₹758 crore ($87Mn). (BS)

• IFC is considering a ₹564 crore ($65Mn) investment in A91 Partners' third fund. (YS)

• Ajay Singh to infuse ₹294 crore ($33Mn) into SpiceJet via promoter group entity. (YS)

• True North leads Nivara Home Finance’s ₹245 crore ($28Mn) Series B round. (Mint)

• Ayana Renewable to raise ₹150 crore ($17Mn) from IL&FS Mutual Fund. (EN)

• Jeevansathi to invest ₹30 crore ($3.4Mn) in its subsidiary Aisle. (Inc42)

• Amazon India to merge its e-commerce and logistics arms. (EN)

• Uber is in early talks to acquire EV taxi startup BluSmart. (HT)

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