Weekly Wrap-Up

Unlisted Share News?

• NSE simplifies share transfers via the DIS mechanism from March 24, reducing timelines from six months to just 3-5 days. The move improves liquidity in the unlisted market by eliminating manual KYC verification.
• SEBI Delays IPO Approval for HDB Financial and Hero FinCorp SEBI has withheld IPO approvals for Hero FinCorp (eight months) and HDB Financial (four months) due to potential rule violations related to pre-IPO share sales, as per reports.
• Rosneft Plans to Exit Nayara Energy Amid Sanctions Russia’s Rosneft is looking to sell its 49.13% stake in Nayara Energy, valued at over $20 billion, due to difficulties in repatriating earnings, with talks ongoing with Indian conglomerates like Reliance and Adani.
• Tata Capital Finalizes 10 Banks for ?15,000 Crore IPO Tata Capital has appointed Kotak Mahindra, Citi, JP Morgan, and others for its mega IPO, with plans for a confidential filing and stake sale by Tata Sons and IFC.

Sectoral Highlights

Top Gainers / Losers

Ajanta Pharma Surges 10%, Hits Six-Week High Ajanta Pharma shares jumped as much as 10% intraday on Friday following the company’s announcement of expanding its manufacturing capabilities. The drugmaker is adding a liquid formulation facility at its Pithampur site to cater to increasing global demand. The stock eventually closed 4% higher at ?2,714.1 per share on the NSE.

Railtel Gains 9% This Week on ?16 Crore Defence Ministry Order Railtel Corporation of India saw its shares climb over 8% intraday after securing a ?16 crore order from the Defence Ministry. The stock rose 4% on Friday, contributing to a weekly gain of more than 9%.

Poonawalla Fincorp Rallies 15% on Commercial Vehicle Loan Foray Poonawalla Fincorp shares surged over 15% this week as the NBFC announced its entry into the commercial vehicle (CV) loan business. The move aims to enhance the logistics and supply chain sectors by providing better financing options for CV operators. The stock gained in four out of five trading sessions, closing at ?334.8 per share on the NSE, marking a 15% weekly rise.

Currency gainers/losers (USD, GBP)

Global Market News

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Commodities (MCX)