Quick Wrap: Nifty Metal Index registers a drop of 4.82%, NIFTY Crashes  2.06%

Quick Wrap: Nifty Metal Index registers a drop of 4.82%, NIFTY Crashes 2.06%


Nifty Metal index closed down 4.82% at 11292.5 today. The index has lost 8.00% over last one month. Among the constituents, Jindal Steel Ltd dropped 6.67%, Hindalco Industries Ltd fell 6.16% and Hindustan Copper Ltd shed 5.89%. The Nifty Metal index has increased 29.00% over last one year compared to the 3.37% spike in benchmark Nifty 50 index. In other indices, Nifty PSU Bank index has slid 3.72% and Nifty Auto index has slid 3.60% on the day. In broad markets, the Nifty 50 has declined 2.06% to close at 23151.1 while the SENSEX has slid 1.93% to close at 74563.92 today.

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First Published: Mar 13 2026 | 5:16 PM IST



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Quick Wrap: Nifty Metal Index registers a drop of 4.82%, NIFTY Crashes  2.06%

INR tumbles to new lifetime lows; Benchmark indices melt amid West Asia conflict and escalating oil prices


The Indian rupee slumped to close at a fresh record low of 92.37 (provisional) against the US dollar on Friday as crude oil prices crossed USD 101/barrel amid the raging West Asia conflict. A stronger greenback, heavy foreign fund outflows and sustained selling in the domestic equity markets further weighed on the rupee. At the interbank foreign exchange, the local unit opened at 92.33 and kept losing ground to hit a fresh intra-day low of 92.47 against the US dollar. It eventually settled at its lifetime low of 92.37 (provisional), down 11 paise from its previous close. Indian shares plunged on Friday to extend their recent string of losses as oil prices climbed back above $100 a barrel amid an ongoing conflict in West Asia involving Iran, Israel and the United States. The Sensex dropped by 1,470 points to close at 74,563, while the Nifty 50 fell 488 points, settling at 23,151.

 

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First Published: Mar 13 2026 | 4:50 PM IST



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Quick Wrap: Nifty Metal Index registers a drop of 4.82%, NIFTY Crashes  2.06%

Japanese stocks fall for second day as oil surge and weak yen concerns weigh on sentiment


Japanese equities declined on Friday, extending losses for a second straight session as higher oil prices and global market weakness pressured investor sentiment. The Nikkei 225 fell 1.16% to 53,820, while the broader TOPIX dropped 0.57% to 3,629, following overnight declines on Wall Street.

Oil prices surged amid disruptions linked to the Middle East conflict after Irans new supreme leader, Mojtaba Khamenei, pledged to keep the Strait of Hormuz effectively closed while escalating attacks on regional oil and transport infrastructure.

Meanwhile, Bank of Japan Governor Kazuo Ueda warned that the weak yen could increase imported inflation as energy prices rise, potentially forcing the central bank to speed up policy normalization.

 

Technology and automobile stocks led the decline. Major losers included Advantest (-3.5%), SoftBank Group (-4.5%), Tokyo Electron (-3.6%), Toyota Motor (-2.8%), and Honda Motor (-5.6%).

For the week, the Nikkei dropped 3.24% while the Topix declined 2.36%, marking their second consecutive weekly loss.

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Quick Wrap: Nifty Metal Index registers a drop of 4.82%, NIFTY Crashes  2.06%

Heritage Foods inaugurates new ice cream manufacturing facility near Hyderabad


Heritage Foods announced the inauguration of a new greenfield ice cream manufacturing facility at Shamirpet near Hyderabad, Telangana, aimed at strengthening its value-added dairy portfolio.

The facility is equipped with automated production systems and advanced quality control infrastructure to ensure consistent product quality and operational efficiency.

The plant has an installed production capacity of around 24 million litres per annum, with provisions to scale up capacity in line with future demand.

Heritage Foods said its ice cream business currently generates annual revenues of about Rs 100 crore. The new Shamirpet facility is expected to enhance the companys ability to scale operations up to five times over the next seven to eight years.

 

The company added that the facility will support expansion of its value-added dairy portfolio, strengthen manufacturing capabilities, and improve distribution reach across South and Western India, amid rising demand for premium ice cream and packaged dairy products.

N Bhuvaneswari, Vice-Chairperson & Managing Director from Heritage Foods, said: “The commissioning of our Shamirpet ice cream manufacturing facility marks an important milestone in Heritage Foods growth journey. As consumer demand for high-quality ice creams continues to expand, this facility will enable us to scale our operations, introduce innovative products, and strengthen our presence in key markets while maintaining the quality and trust associated with the Heritage brand.”

Heritage Foods is one of Indias leading dairy companies. With operations spanning 14 states, the company offers a wide range of milk, curd, butter, paneer, and other value- added dairy products.

The company reported 20% drop in consolidated net profit to Rs 346 crore in Q3 FY26 from Rs 431 crore in Q3 FY25. Revenue from operations increased to Rs 11,192 crore during the period under review, up 8% YoY.

Shares of Heritage Foods slipped 4.20% to Rs 307.75 on the BSE.

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Quick Wrap: Nifty Metal Index registers a drop of 4.82%, NIFTY Crashes  2.06%

Bondada Engineering bags Rs 35-cr tower supply order


Bondada Engineering announced that it has received an order worth Rs 35.39 crore from Pratap Technocrats for the supply of 40-metre towers.

The scope of work includes supply of 40M towers along with hardware, foundation bolts and foundation templates, the company said in a regulatory filing.

The order has been awarded by a domestic entity and is scheduled to be executed by October 2026.

Bondada Engineering added that the promoter or promoter group does not have any interest in the entity awarding the contract and the order does not fall under related-party transactions.

Bondada Engineering provides engineering, procurement, and construction (EPC) services and operations and maintenance (O&M) services to companies operating in the telecom and solar energy industry.

 

The compnays consolidated net profit zoomed 119.12% to Rs 54.19 crore in Q3 FY26 as against Rs 24.73 crore in Q3 FY25. Revenue from operations jumped 89.40% year on year (YoY) to Rs 712.27 crore in Q3 FY26.

Shares of Bondada Engineering fell 1.06% to Rs 280.15 on the BSE.

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First Published: Mar 13 2026 | 2:31 PM IST



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Quick Wrap: Nifty Metal Index registers a drop of 4.82%, NIFTY Crashes  2.06%

Canara HSBC Life Insurance Company allots NCDs amounting to Rs 250 cr


On private placement basis

Canara HSBC Life Insurance Company has allotted 25,000 unsecured, subordinated, listed, rated, redeemable, non cumulative, fully paid-up, non-convertible debentures in the nature of ‘Subordinated Debt’,
each having a face value of Rs 1,00,000 (Debentures), for a nominal value of Rs 250 crore for cash, on private placement basis.

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First Published: Mar 13 2026 | 1:31 PM IST



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