Aster's Bold Move
Aaj Ka Bazaar
On the global front, US Stocks showed a lack of direction throughout much of the trading session on Wednesday before rallying following the Federal Reserve's monetary policy announcement. The rally on Wall Street came after the Fed announced its widely expected decision to leave interest rates unchanged but also maintained its forecast for three rate cuts this year. In support of its dual goals of maximum employment and inflation at a rate of 2 percent over the longer run, the Fed said it once again decided to maintain the target range for the federal funds rate at 5.25% to 5.50%. On the domestic front, Krystal Integrated Services, the facilities management services provider is set to debut on the bourses on March 21. The final issue price has been fixed at Rs. 715 per share. The benchmark Sensex and Nifty indices are likely to open gap-up on March 21 as trends in the GIFT Nifty indicate a strong start for the broader index and investors cheering the Fed's dovish pivot and a retreat in US Treasury yields.
Markets Around Us?
Sector: Healthcare
Aster DM to sell off Gulf assets
Aster DM Healthcare is close to finalizing the split of its business in India and the Gulf region, with a plan to sell most of its Gulf business to a group led by Fajr Capital, a UAE-based private equity firm, for US$ 1 billion. This deal was agreed upon last November and got the green light from shareholders in January 2024. The process included getting approvals from Saudi Arabia’s competition authority and completing necessary formalities like obtaining no-objection certificates from key partners. The Gulf business will be partly owned by the Moopen family, who will keep a 35% stake, while the rest will go to the investors. The Indian part of Aster will remain publicly listed, and plans are to give a large part of the sale’s profits as dividends to its shareholders. Meanwhile, Aster aims to expand in India by adding 1500 hospital beds by 2027, focusing on both new and existing projects, with a budget of Rs. 850-900 crore for growth.
Why it Matters:
The deal signals a strategic restructuring that could lead to more focused growth and operational efficiency in both the Gulf and Indian markets. Investors often view such restructuring positively because it can enhance the company's competitiveness and profitability.
NIFTY 50 GAINERS
NIFTY 50 LOSERS
Sector: Chemicals
领英推荐
Himadri Speciality to focus more on exports
Himadri Speciality Chemical, is planning to sell more of its products to other countries. Right now, 25% of their sales come from exports, but they want to increase this to 35% in the next three years. They're focusing on making materials for next-generation batteries, like those used in electric cars. The company bought a 40% share in Invati Creations, a company that's good at making materials for lithium-ion batteries, for about Rs 45.16 crore. Himadri believes this move will help them sell more abroad, especially because they're also planning to spend Rs 4,800 crore on a new plant in Odisha to make lithium iron phosphate, a key battery material. This plant will take about 27–36 months to complete. They're talking to battery makers in the US and Europe to sell their products and are already exporting to 49 countries. Last year, their sales were Rs 4,171.84 crore.
Why it Matters:
The company's aim to increase its export turnover from 25% to 35% within the next three years showcases its ambition to expand its global footprint. For investors, this indicates a strong growth trajectory and potential for increased revenues, making it an attractive investment opportunity.
Around the World
European stocks ended mixed on Wednesday as investors reacted to encouraging UK inflation data and looked ahead to the Fed's interest-rate decision. Meanwhile, Nikkei hit a fresh all-time high as Asia markets climbed taking cues from FOMC outcome. On the commodity front, Oil prices rebounded on Thursday after falling in the previous session as U.S. crude and gasoline inventory declines supported the market after signs the U.S. Federal Reserve may keep rates higher for longer crimped the outlook for future fuel demand and Gold prices climbed to a record high on Thursday, as the U.S. dollar and bond yields ticked lower. Furthermore, the dollar fell broadly on Thursday after the US Federal Reserve maintained its interest rate cut projections for the year in the face of upside surprises on inflation, and did not strike a more hawkish tone as some investors had feared.?
?Option Traders Corner
Max Pain
Nifty 50 - 21,826 (Pivot)
Bank Nifty - 46,265 (Pivot)
Did you know?
Russian Oil imports up 14%
The value of crude oil India imported from Russia stood at US$ 4.47 billion, its top supplier, up 14% from $3.92 billion in December 2023, and up 41% from January last year