EVolution: Mahindra Teams Up with Adani Energies!

Aaj Ka Bazaar

On the commodity front, Oil prices sank in early Asian trading on Friday on the possibility of a nearing Gaza ceasefire, which could loosen global supply, at the same time a stronger US dollar and faltering gasoline dampened demand sentiment. On the domestic front, Sebi on March 21 issued a framework for implementing the beta version of same-day or T+0 settlement on an optional basis, in addition to the T+1 settlement cycle. To start with, this option will be available in the equity cash segment for 25 scrips and through a limited set of brokers. All investors will be allowed to participate in this segment and trade timing will be between 9.15 am and 1.30 pm. The benchmark Sensex and Nifty indices are likely to open on a flat-to-negative note on March 22 as trends in the GIFT Nifty indicate a muted start for the broader index.

Markets Around Us?

• BSE Sensex - 72,302.98 (-0.48%)
• Nifty 50 - 21,917.50 (-0.43%)
• Bank Nifty - 46,636.90 (-0.10%)
• Dow Jones - 39,802.70 (0.06%)
• Nasdaq - 16,401.84 (0.20%)
• FTSE - 7,882.55?(1.84%)
• Nikkei 225 - 40,929.63 (0.28%)
• Hang Seng - 16,350.56 (-3.04%)

Sector: Mining

Hindustan Zinc to pause restructuring

Hindustan Zinc Ltd (HZL), has decided to pause its plan to split into two different companies after the Indian government, which owns almost 30% of HZL, didn't agree with the idea. HZL wanted to separate its zinc/lead business from its silver business and make its recycling business a subsidiary. However, the government, needing to approve any major changes because it's a significant shareholder, rejected this plan. They believe splitting the company wouldn't really benefit the shareholders and could make the company's operations more complicated. This isn't the first time the government has said no to HZL's plans. The company, mainly owned by Vedanta Ltd, had previously proposed buying Vedanta's zinc assets globally, which the government also rejected. Now, HZL is considering its next steps and how to potentially unlock value for its shareholders without causing instability, especially since the government plans to sell some of its HZL shares soon.

Why it Matters:

The immediate reaction might involve a degree of uncertainty regarding HZL's future strategic directions. Investors generally seek clarity and predictability in a company's operations and growth plans. The halt in restructuring could lead to short-term volatility in HZL's stock price as the market digests the news and its implications.

NIFTY 50 GAINERS

• SUNPHARMA - 1,590.10?(1.59%)
• CIPLA - 1,471.65?(1.58%)
• UPL - 460.50?(1.09%)

NIFTY 50 LOSERS

• HCLTECH - 1,517.60?(-4.90%)
• LTIM - 4,960.00?(-3.87%)
• WIPRO - 481.50?(-3.79%)

Sector: Automobiles

M&M and Adani joins hand to create network of EV chargers

Mahindra & Mahindra and Adani Group's Adani Total Energies have teamed up to create a network of electric vehicle (EV) chargers all over India. This partnership means that if you own a Mahindra EV, like the XUV400, you'll find charging your vehicle easier because you'll have access to over 1100 chargers through the Bluesense+ App. This move is aimed at making electric cars more appealing by solving one of the big headaches - finding a place to charge. Mahindra & Mahindra highlighted how this alliance is key to improving the EV charging scene and is part of a bigger plan to encourage more people to choose electric vehicles by making the charging process smoother and more connected. Both companies are looking at the bigger picture too, aiming to reduce pollution from cars and help India achieve its environmental goals, which is something they committed to at the international climate conference, COP 26. This step is seen as a boost for customers considering switching to electric vehicles, showing them that the infrastructure and support will be there to make the transition easy.

Why it Matters:

This collaboration signals both companies' strategic entry into the rapidly growing EV infrastructure market, potentially enhancing their market positions and brand reputations in the renewable energy and automotive sectors. Investors might see this as an opportunity for growth, given the increasing demand for EVs and the corresponding need for widespread charging solutions.

Around the World

On the global front, US Stocks showed a strong move to the upside in early trading on Thursday but gave up over the course of the session. While the major averages pulled back well off their best levels of the day, they still ended the session at new record-closing highs. Meanwhile, Nikkei 225 crossed 41,000 to hit a fresh all-time high on Friday as Japan inflation accelerated in February, while other Asia-Pacific markets opened mixed. Furthermore, on the global economic front, the Bank of England kept its main interest rate unchanged at a 16-year high of 5.25% on Thursday even though inflation continues to drop from multi-decade peaks. In addition, the number of Americans filing new claims for unemployment benefits unexpectedly fell last week, suggesting that job growth remained strong in March.?

Option Traders Corner

Max Pain

• Nifty 50 - 22,000
• Bank Nifty - 46,800

Nifty 50 - 22,011 (Pivot)

• Support - 21,941, 21,871, 21,802
• Resistance - 22,081, 22,151, 22,221

Bank Nifty - 46,748 (Pivot)

• Support - 46,506, 46,328, 46,086
• Resistance - 46,926, 47,168, 47,346

Did you know??

Petroleum exports goes down

India's earnings from exports of chemicals and petroleum products between April 2023 and February 2024 stood at US$ 75.01 billion, down 9.69% from US$ 83.06 billion a year ago, according to government data.

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