Temasek buys 10% of Haldiram’s for $1Bn

• Indian markets experienced sharp fluctuations on March 12, as weak global cues, escalating trade tensions, and IT stock downgrades led frontline indices to swing throughout the session. However, they ended with mild losses.

• Meanwhile, Indian IT stocks extended their losing streak for the fourth straight session, dragging the Nifty IT index down 2.91%. Strong gains in banking stocks helped the market recover in the second half.

• Global trade tensions intensified after Donald Trump announced a 25% tariff on steel and aluminium imports, effective March 12.

• He initially threatened to double duties on Canadian imports to 50% after Ontario proposed an electricity surcharge but later reverted to 25% once the province withdrew its plan.

• Despite sharp weakness in U.S. markets, Indian equities remained resilient, having already undergone a significant correction in recent months. Experts believe the U.S. market decline will have minimal impact, as most stocks have factored in global uncertainties and are finding support at lower levels.

Tata Motors +3.10%

• Tata Motors shares jumped over 3% on March 12, ranking among the top Sensex gainers and boosting the BSE Auto index.

• The rally was driven by positive brokerage reports that strengthened investor confidence in the company's growth prospects.

PB Fintech (4.70%)

• PB Fintech, the parent of Policybazaar, saw its shares drop over 5% after announcing a ₹696 crore investment in subsidiary PB Healthcare Services.

• While aimed at expanding its healthcare business, investors appeared skeptical about its immediate impact on profitability, raising concerns over capital allocation and return timelines.

• India's retail inflation drops to a seven-month low of 3.61% in Feb as food prices ease. (ET)

• Rapido plans to enter food delivery, challenging Swiggy and Zomato's dominance. (BS)

• India plans to establish a trading exchange for domestic coal. (ET)

• Moody's keeps a stable outlook for India's banking sector despite expected asset quality deterioration. (ET)

There are no mainboard IPOs this week.

M&A / Investments

• Temasek acquires a 10% stake in Haldiram's snacks business for ₹8,700 crore ($1Bn). (BS)

• Zydus plans major stake buy in Amplitude for ₹2,446 crore ($280Mn). (PEI)

• PB Fintech to invest ₹829 crore ($94Mn) in its healthcare arm. (YS)

• Coromandel Int'l acquires a 53% stake in NACL for ₹820 crore ($93Mn). (BS)

• IndiGo's parent approves a ₹393 crore ($45Mn) investment in its IFSC subsidiary. (BS)

• CG Power gets nod for ₹314 crore ($36Mn) Renesas Electronics acquisition. (BS)

• Govt plans to sell a 2-3% stake in LIC in FY26. (BS)

VC

• Bessemer Venture Partners raised ₹3,058 crore ($350Mn) for its second India fund. (YS)