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Indian Stock Market Weekly Update (Last Week's Highlights)

1. India’s Economic Growth Outlook
India's GDP growth for Q3 FY25 reached 6.2% YoY, with Morgan Stanley estimating it to rise to 6.7% by March.

Growth was driven by increased rural consumption (due to a strong monsoon) and higher government spending (which jumped 8.3%, the highest in the last five quarters).

Private consumption grew 6.9%, while Gross Value Added (GVA) rose to 6.2% from 5.8% in the previous quarter.
Agriculture sector growth hit 5.6%, the highest since September 2023.

2. IRCTC & IRFC Get 'Navratna' Status
IRCTC & IRFC have been granted Navratna CPSE status, making them the 25th and 26th Navratna companies in India.
This allows them to invest ₹1,000 crore or up to 15% of their net worth in projects without government approval.
The status enhances their ability to explore new business opportunities and expand operations.

3. Tata Capital’s Mega IPO Plans
Tata Capital has approved its IPO, which could value the company at $11 billion.
The IPO is expected to raise around $2 billion, making it one of India’s largest IPOs.
The company is required to list by September 2025 as per RBI’s NBFC regulations.

4. ₹24,500 Crore Demand Notice to Reliance
Reliance Industries, BP, and Niko (NECO) received a ₹24,500 crore demand notice from the Indian government.
The issue is related to allegations of stealing natural gas from ONGC fields.
Delhi High Court overturned a previous international tribunal ruling, which had ruled in favor of Reliance.
Reliance plans to appeal the decision in the Supreme Court.

5. Ola Electric & Reliance Penalized ₹12.5 Lakh Per Day
Ola Electric, Reliance, and Rajesh Exports have been fined under the PLI Battery Storage Scheme for failing to meet production commitments.
Ola Electric is fined ₹12.5 lakh per day, while Reliance & Rajesh Exports are fined ₹5 lakh per day.
The fines will continue until they fulfill their obligations, but the government has stated that companies can request a relaxation.

6. Ambuja Cements Gets CCI Approval for Orient Cement Acquisition
Ambuja Cements has received CCI approval for its $451 million acquisition of Orient Cement.
Since the announcement in October 2024, Ambuja Cements' stock has fallen 15%, while Orient Cement's stock is down 5%.
This approval could lead to further acquisitions and competition in the cement industry.

7. Indian Defence Stocks Surge
Indian defense stocks saw a strong rally on March 3, following a record-breaking surge in European defense stocks.
GRSE surged 9%, while Bharat Dynamics, HAL, Cochin Shipyard, and Mazagon Dock rose 3-5%.
The rise was driven by expectations of increased military budgets in Europe.

8. Jio Financial Acquires Full Stake in Jio Payments Bank
Jio Financial Services acquired SBI’s 17.8% stake in Jio Payments Bank for ₹104.54 crore.
Jio Payments Bank is now a wholly-owned subsidiary of Mukesh Ambani’s Reliance Group.
Jio Financial's stock rose nearly 3% to ₹206 per share following the announcement.
Conclusion
These were some of the biggest stock market news updates from last week. For more such weekly updates, subscribe to AISM India!

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