🇮🇳 India Daybook: HDFC Bank Shaken by Chairman's Exit, Wipro Launches GIFT City AI Hub

📍 MARKET SNAPSHOT

• The BSE Sensex and NSE Nifty 50 crashed over 3% in the previous session, with the Nifty closing near the 23,000 mark, erasing approximately ₹13 lakh crore in investor wealth.
• HDFC Bank: Shares are under heavy pressure following the sudden resignation of part-time chairman Atanu Chakraborty, who cited ethical concerns; CEO Sashidhar Jagdishan maintains that the bank's fundamentals remain robust.
• Global Cues: Brent crude has surged above $116 per barrel amid escalating Middle East conflicts, while the Indian Rupee hit a record low of 92.45 against the US Dollar.

📍 ORDER WIN / PARTNERSHIP

• TCS: The IT giant has entered into a strategic partnership with ABB to provide integrated IT, AI, and engineering services globally.
• NTPC: Signed a Memorandum of Understanding (MoU) with Octopus Energy Group to explore collaborative opportunities in the global power and renewable energy sectors.
• GR Infraprojects: Emerged as the L1 bidder for a massive ₹24.41 billion highway project in Bihar, awarded by the National Highways Authority of India (NHAI).
• Tata Elxsi: Announced the establishment of a Global Offshore Development Center (ODC) for Terumo Corporation to support advanced cardiac and vascular medical solutions.

📍 ACQUISITION / INVESTMENT

• Wipro: Launched a dedicated AI-led transformation hub in GIFT City, Gujarat, specifically designed to serve global BFSI (Banking, Financial Services, and Insurance) clients.
• Amber Enterprises: The board approved an investment of ₹296 crore in its subsidiary, IL JIN Electronics, via a rights issue to raise additional capital for expansion.
• ICICI Lombard: Acquired a strategic stake in HDFC Bank for approximately ₹39 crore through a secondary market purchase.
• Physicswallah: Completed the acquisition of Nextseed Foundation for a consideration of ₹1 lakh to expand its social impact initiatives.

📍 CORPORATE ACTION

• Metropolis Healthcare: The stock will be in focus as the record date for its 3:1 bonus issue approaches.
• REC Ltd: The company has declared an interim dividend of ₹3.20 per share for the current financial year.
• IREDA: The board has enhanced its borrowing plan to ₹35,800 crore for FY26 and will meet on March 25 to consider an interim dividend.
• Adani Enterprises: Approved the conversion of 13.7 crore partly paid-up equity shares into fully paid-up shares.

📍 CAPACITY EXPANSION

• Nestle India: Announced an investment of ₹225 crore to set up a new "Munch" chocolate production line at its Sanand factory, adding 8,300 tons of annual capacity.
• JSW Cement: Successfully commissioned a new 2.5 MTPA greenfield grinding plant in Rajasthan, marking a significant expansion in the northern Indian market.
• United Breweries: Received environmental approval from the Uttar Pradesh state authorities to set up a new greenfield brewery project.

📍 IPO / LISTING

• Central Mine Planning & Design Institute (CMPDI): The ₹1,842 crore IPO opens for public subscription today with a price band fixed at ₹163–₹172 per share.
• SBI Funds: State Bank of India has filed a Draft Red Herring Prospectus (DRHP) for the IPO of its mutual fund arm, intending to sell a 6.3% stake via an Offer for Sale (OFS).

📍 REGULATORY / OTHER

• ICICI Bank: Disclosed the receipt of GST-related show-cause notices from tax authorities regarding input tax credit claims.
• Gillette India: Secured the renewal of its 'Consent to Operate' (CTO) from the Rajasthan State Pollution Control Board for its Bhiwadi manufacturing unit.
• HCLTech: Confirmed that its subsidiary, HCL America Inc., has fully repaid its outstanding notes totaling $252 million.

TAGS: India Daybook, Stocks in News, Corporate News, Stock Market, Company News

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