Tata Capital Files ₹17,000 Crore IPO

• Indian markets ended flat on Friday but outperformed global and Asian peers, which tumbled after fresh U.S. economic data signaled slowing growth amid escalating trade tensions.

• Concerns over a U.S. economic slowdown triggered a sell-off in domestic technology stocks, while oil & gas and metal stocks gained as crude oil prices softened and the U.S. Dollar Index declined.

• Among sectoral indices, Nifty Media led gains with a 1.83% rise, while softening crude oil prices lifted the Nifty Oil & Gas index by 0.55%.

• Last week saw retaliatory actions, business warnings of price hikes, and sharp market fluctuations, keeping investors on edge over trade war concerns.

• Trump imposed 25% tariffs on Canada and Mexico on Tuesday but exempted some USMCA-covered goods until April 2. However, these exemptions did not extend to China, which, along with Canada, imposed retaliatory tariffs on U.S. goods.

• China reaffirmed its stance, stating it is prepared to fight “any type of war” with the U.S. Meanwhile, Trump is set to enact "reciprocal tariffs" on April 2 against nations imposing import taxes on U.S. goods, with India among those affected.

Reliance Industries +3.00%

• Reliance Industries' shares rose over 3% on March 7, boosting benchmark indices, after Macquarie upgraded its rating to 'Outperform' with a target price of ₹1,500, suggesting a 20% upside.

• The upgrade was driven by strong earnings momentum and the potential listing of Jio.

• India and the EU will hold the next round of FTA talks from Monday amid threats of Trump tariffs. (ET)

• India's M&A market is expected to remain resilient despite the market correction. (BS)

• Tata Capital to file for ₹17,000 crore ($1.95Bn) IPO after NCLT clears Tata Motors Finance merger. (Mint)

• Fujiyama Power Systems refiles IPO with a ₹600 crore ($68Mn) fresh issue. (MC)

There are no mainboard IPOs this week.

M&A / Investments

• Nazara to sell a 95% stake in OpenPlay to PokerBaazi’s parent for ₹105 crore ($12Mn). (ISN)

• Shadowfax co-founders infuse ₹65 crore ($7.4Mn) into the IPO-bound startup. (Inc42)

• Infibeam to sell a 49% stake in subsidiary Primid for ₹27 crore ($3Mn). (Inc42)

• Gensol Engineering's founders have sold a 2.37% stake in the company. (Mint)

• Nippon Life is reportedly considering buying a 5% stake in IndusInd Bank. (ET)

Debt

• JSW Group to raise ₹1,487 crore ($170Mn) to establish an EV unit. (BS)

• Furlenco raises ₹61 crore ($7Mn) in debt from Northern Arc and CredAvenue. (Inc42)

VC

• India ranks second globally in funding for women-led tech startups. (YS)