🇮🇳 India Daybook: Vedanta Challenges Adani’s JAL Bid, Wipro Launches Global AI Solution

📍 LEGAL & REGULATORY

• Vedanta vs. Adani: Vedanta Group has moved the National Company Law Appellate Tribunal (NCLAT) to challenge the NCLT's approval of Adani Enterprises' ₹14,535 crore bid for Jaiprakash Associates (JAL). The hearing is scheduled for today, March 23, before Chairperson Justice Ashok Bhushan.
• Tata Capital: The company has received a tax demand of ₹413 crore. Management has confirmed they will challenge the reassessment order in the appropriate forum.

📍 CORPORATE ACTION

• Vedanta: The Board of Directors is meeting today to consider and approve a third interim dividend for the financial year 2025-26.
• Castrol India: Shares will trade ex-dividend today for a final dividend of ₹5.25 per share.
• Power Finance Corp (PFC): The stock trades ex-dividend today for an interim dividend of ₹3.25 per share.
• India Glycols: Trading ex-dividend today following the announcement of a ₹7.50 per share interim dividend.
• TIL Ltd: The company trades ex-rights today (Ratio 11:64) at a premium of ₹155 per share.

📍 NEW LAUNCH

• Wipro: The IT giant has announced the global launch of its AI-driven Data Center Solution, aimed at optimizing high-density compute environments for enterprise clients.
• Tata Steel: The company has commissioned its new ₹3,200 crore scrap-based Electric Arc Furnace (EAF) facility in Ludhiana, marking a significant step in its green steel transition.

📍 ORDER WIN

• NBCC (India): The PSU has secured multiple new domestic consultancy projects across various states, significantly boosting its infrastructure order pipeline.
• BHEL: Remains in focus after securing a ₹1,600 crore order from THDC for the manufacturing and installation of power generation equipment.

📍 DATA POINT

• Reliance Jio: New data reveals Jio added 24.37 lakh wireless subscribers in January 2026, taking its total customer base to 49.14 crore with a 39.29% market share.
• RBI Liquidity: The Reserve Bank of India will conduct a ₹1 lakh crore overnight Variable Rate Repo (VRR) auction today to manage current liquidity conditions.

📍 MARKET TRENDS

• Currency Watch: The Indian Rupee hit a fresh record low of 93.70 against the US Dollar in the previous session, driven by sustained foreign fund outflows.
• Global Cues: GIFT Nifty indicates a weak start for Indian indices, tracking a sharp sell-off in Asian peers where the Nikkei 225 fell nearly 5% and the Kospi dropped over 6%.

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

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