India Daybook: March 09, 2026

🇮🇳 India Daybook: IRFC Dividend Meet, Cupid 4:1 Bonus, and Cipla Recall in Focus

Indian markets are braced for a volatile session on March 9, 2026, as escalating Middle East tensions and surging crude oil prices weigh on global sentiment. Key domestic triggers include the IRFC board meeting for dividend consideration, significant corporate actions in Cupid and TANFAC, and regulatory developments involving Cipla.

📍 BOARD MEETING

• Indian Railway Finance Corporation (IRFC): The Board of Directors is scheduled to meet today to consider and approve the second interim dividend for FY 2025-26. The board will also discuss and approve the market borrowing program for the upcoming financial year 2026-27.

📍 DIVIDEND & CORPORATE ACTION

• Cupid Ltd: Today is the record date for the company's 4:1 bonus issue. Shareholders will receive four new fully paid-up equity shares for every one share held.
• TANFAC Industries: The company has fixed March 9 as the record date for its 1:2 stock split, where each equity share of face value ₹10 will be subdivided into two equity shares of face value ₹5.
• Axtel Industries: The record date for its interim dividend of ₹12 per share is today, March 9.

📍 REGULATORY & RECALL

• Cipla: The drugmaker's US subsidiary, Cipla USA Inc., is recalling over 400 cartons of generic anti-cancer medication (Nilotinib Capsules) in 150 mg and 200 mg strengths. The recall is due to manufacturing issues as per the latest USFDA enforcement report.

📍 BULK DEALS & STOCKS IN NEWS

• PB Fintech: The parent company of Policybazaar remains in the spotlight following block deals worth ₹695 crore. Tencent Cloud Europe BV reportedly offloaded 48.40 lakh shares, which were picked up by marquee investors including Goldman Sachs and various domestic mutual funds.
• KEC International: The company announced new orders worth ₹1,002 crore in its Transmission & Distribution (T&D) and cables businesses, taking its total year-to-date order book to over ₹21,300 crore.
• Bharat Electronics (BEL): The stock continues to see momentum after securing additional orders worth ₹569 crore for communication equipment and medical electronics.

📍 ANALYST & INVESTOR MEET

• Samvardhana Motherson International: The company is scheduled to hold an in-person investor meeting with JP Morgan today to discuss business updates and strategic outlook.

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