Benchmarks trade with moderate losses; European mrkt decline

by Hansraj Agrawal | Mar 12, 2026 | Share Market

The domestic equity benchmarks traded with modest losses in afternoon trade amid weak sentiment due to FII selling, rising crude oil prices, the escalating conflict in the Middle East, and persistent geopolitical uncertainties. The Nifty 50 index slipped below the 24,000 level.

Auto, FMCG and private bank shares declined while media and oil & gas stocks advanced.

At 13:25 IST the barometer index, the S&P BSE Sensex declined 477.06 points or 0.64% to 76,448.23. The Nifty 50 index fell 121 points or 0.49% to 23,753.

In the broader market, the BSE 150 MidCap Index rose 0.01% and the BSE 250 SmallCap Index shed 0.02%.

The market breadth was strong. On the BSE,1,849 shares rose and 2,218 shares fell. A total of 199 shares were unchanged.

The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, jumped 0.65% to 21.20.

In the commodities market, Brent crude for May 2026 settlement jumped $3.83 or 4.16% to $95.81 a barrel.

Gainers & Losers:

Among the Nifty 50 constituents, Coal India (up 4.19%), NTPC (up 2.01%), Adani Enterprises (up 1.93%), Power Grid Corporation of India (up 1.34%), and Reliance Industries (up 1.30%) were the top gainers.

Meanwhile, Mahindra Mahindra (M&M) (down 3.79%), Eicher Motors (down 3.56%), Maruti Suzuki India (down 2.80%), Ultratech Cement (down 2.56%) and Trent (down 2.43%) were the top losers.

IPO Update:

The initial public offer (IPO) of Innovision received bids for 16,65,684 shares as against 61,32,433 shares on offer, according to stock exchange data at 13:15 IST on Thursday (12 March 2026). The issue was subscribed 0.27 times.

The issue opened for bidding on 10 March 2026 and it will close on 12 March 2026. The price band of the IPO is fixed between Rs 521 and 548 per share.

Stocks in Spotlight:

Shares of Eternal, the parent company of Zomato, declined 1.09%, while Swiggy slipped 1.46% during the session. Shares of food delivery companies fell on Thursday as a worsening shortage of commercial LPG cylinders raised concerns about disruptions in restaurant operations. The weakness follows reports that the LPG shortage could force some restaurants and eateries to temporarily shut operations or reduce menu offerings if the situation continues.

Raymond Realty rose 0.87%. The real estate arm of Raymond, said that it has launched Ten X District 9, a 9-acre residential development in Thane with an estimated revenue potential of Rs 2,000 crore.

Precision Wires India plunged 7.19% after the company announced that it is re-routing shipments and putting in place alternate logistics arrangements amid intensifying conflict in the Middle East.

KNR Constructions rose 0.36%. The company announced that it has received a Letter of Acceptance (LoA) worth Rs 50.47 crore from the Greater Hyderabad Municipal Corporation (GHMC) for the construction of a four-lane unidirectional flyover at Rasoolpura in Telangana.

Gopal Snacks rallied 3.22% after the company said its manufacturing operations remain unaffected despite the ongoing gas supply shortage triggered by recent government restrictions on commercial gas usage.

The company added that it has already been using bio-coal as an alternative fuel at these facilities, reducing dependence on conventional gas supplies. This approach allows it to maintain production and ensure timely delivery of products. In a business update, the company said its manufacturing facilities at Modasa and Nagpur are operating normally and are capable of meeting current and future production requirements.

Aarti Industries (AIL) rallied 5.62% after the company has entered into a multi-year supply agreement with a top global agrochemical innovator for a critical agrochemical intermediate used in crop-protection formulations.

The agreement, valid through 31 March 2030, significantly increases volumes over the current annual engagement and is expected to generate revenue of approximately $150 million over the contract period, enhancing AILs revenue visibility in the medium to long term.

Uniparts India declined 1.37% after the companys chief financial officer (CFO), Rohit Maheshwari has resigned with effect from 12 March 2026. Following his resignation the board approved the appointment of Sandeep Taneja as the group CFO, effective from 16 March 2026.

Enviro Infra Engineers jumped 5.59% after the company has secured a new project from Bihar Urban Infrastructure Development Corporation for the development of sewerage network and sewage treatment plant (STP) at Aurangabad. The project is valued at Rs 411.08 crore. The EPC work is scheduled to be completed within 15 months from the date of commencement, followed by an operation and maintenance (O&M) period of 5 years.

Global Markets:

European market declined while Most Asian markets fell on Thursday as investors grappled with volatile oil prices and escalating tensions in the Middle East, even after the U.S. and its allies announced an unprecedented emergency release of crude reserves to calm energy markets.

The International Energy Agency is looking to release 400 million barrels of oil following the supply disruption owed to the Iran war, the largest such action in the organizations history. The IEA did not set out a timeline for when the stocks would hit the market.

The U.S. will release 172 million barrels of oil from the Strategic Petroleum Reserve to help lower energy costs, Energy Secretary Chris Wright reportedly said Wednesday evening stateside.

The announcement from the Energy Secretary came after President Donald Trump said earlier in the day that he would tap the Strategic Petroleum Reserve to keep a lid on energy prices.

Overnight in the U.S., the Dow Jones Industrial Average fell as investors continued to eye developments in the U.S.-Iran war and oil prices.

The 30-stock index shed 289.24 points, or 0.61%, to close at 47,417.27. The S&P 500 inched down 0.08% to settle at 6,775.80, while the Nasdaq Composite ticked up 0.08% to end the session at 22,716.13.

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Precision Wires tumbles as Middle East conflict disrupts shipments

by Hansraj Agrawal | Mar 12, 2026 | Share Market

Last Updated : Mar 12 2026 | 1:04 PM IST

Precision Wires India declined 6.25% to Rs 321.50 after the company announced that it is re-routing shipments and putting in place alternate logistics arrangements amid intensifying conflict in the Middle East.

The company said the escalating tensions have begun to impact some of its domestic and overseas suppliers, leading to rising inflationary pressures across its supply chain.

The companys that its export consignments to the Middle East have also been affected. To mitigate the impact, it is re-routing shipments and establishing alternative logistics channels, which may result in higher shipping costs and longer lead times.

While company is diligently taking steps to monitor and mitigate these challenges, unforeseen risks and unavoidable circumstances may cause short-term fluctuations in the cost and availability of certain inputs.

Precision Wires India is engaged in the manufacturing of enamelled round and rectangular copper winding wires, continuously transposed conductors (CTC) and paper/mica/nomex insulated copper conductors (PICC). These products are primarily used in the electrical and electronics industries.

The companys standalone net profit jumped 98.89% to Rs 37.69 crore on 36.55% increase in revenue from operations to Rs 1336.93 crore in Q3 FY26 over Q3 FY25.

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First Published: Mar 12 2026 | 1:04 PM IST

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Sensex drops 622 pts; FMCG shares slide

by Hansraj Agrawal | Mar 12, 2026 | Share Market

The key equity indices traded with substantial losses in the mid-morning trade, pressured by escalating tensions in the Iran-Israel-US conflict, persistent selling by foreign institutional investors (FIIs), and a surge in crude oil prices above the $100-per-barrel mark. The heightened geopolitical uncertainty dampened investor sentiment, dragging the Nifty below the 23,700 level. FMCG stocks remained under pressure, extending their decline for the second consecutive session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, dropped 621.98 points or 0.82% to 76,241.91. The Nifty 50 index fell 182.60 points or 0.75% to 23,680.20.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index declined 0.67% and the BSE 250 SmallCap Index fell 0.62%.

The market breadth was weak. On the BSE, 1,419 shares rose and 2,457 shares fell. A total of 226 shares were unchanged.

The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, rallied 3.38% to 21.78.

IPO Update:

The initial public offer (IPO) of Innovision received bids for 12,56,310 shares as against 61,32,433 shares on offer, according to stock exchange data at 11:30 IST on Thursday (12 March 2026). The issue was subscribed 0.20 times.

The issue opened for bidding on 10 March 2026 and it will close on 12 March 2026. The price band of the IPO is fixed between Rs 521 and 548 per share.

Buzzing Index:

The Nifty FMCG index fell 1.44% to 48,354.90. The index dropped 2.51% in two consecutive trading sessions.

Varun Beverages (down 3.46%), Godrej Consumer Products (down 3.25%), Radico Khaitan (down 2.40%), Colgate-Palmolive (India) (down 2.02%), Dabur India (down 1.92%), Britannia Industries (down 1.75%), United Spirits (down 1.53%), Hindustan Unilever (down 1.29%), Patanjali Foods (down 1.25%) and Tata Consumer Products (down 1.03%) declined.

Stocks in Spotlight:

VA TECH WABAG rose 0.83%. The company said that it has secured a ‘mega public-private partnership (PPP) contract from the Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB), for a 45 MLD TTRO Plant in Chennai.

ACME Solar Holdings (ACME Solar) rallied 3.93% after the company informed through its subsidiary ACME Greentech Seventh, has signed two power purchase agreements (PPAs) with SJVN for a total capacity of 450 MW/1,800 MWh.

Global Markets:

Most Asian markets fell on Thursday as investors grappled with volatile oil prices and escalating tensions in the Middle East, even after the U.S. and its allies announced an unprecedented emergency release of crude reserves to calm energy markets.

The U.S. will release 172 million barrels of oil from the Strategic Petroleum Reserve to help lower energy costs, Energy Secretary Chris Wright reportedly said Wednesday evening stateside.

The announcement from the Energy Secretary came after President Donald Trump said earlier in the day that he would tap the Strategic Petroleum Reserve to keep a lid on energy prices.

Overnight in the U.S., the Dow Jones Industrial Average fell as investors continued to eye developments in the U.S.-Iran war and oil prices.

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Nifty slides below 23,650 mark; auto shares drop

by Hansraj Agrawal | Mar 12, 2026 | Share Market

The headline equity indices witnessed sharp losses in morning trade, pressured by escalating tensions in the Iran-Israel-US conflict, persistent selling by foreign institutional investors (FIIs), and a surge in crude oil prices above the $100-per-barrel mark. The heightened geopolitical uncertainty dampened investor sentiment, dragging the Nifty below the 23,650 level. Auto stocks remained under pressure, extending their decline for the second consecutive session amid the broader market weakness.

At 10:30 IST, the barometer index, the S&P BSE Sensex, dropped 691.92 points or 0.90% to 76,171.79. The Nifty 50 index fell 232.15 points or 0.98% to 23,636.50.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index tumbled 1.28% and the BSE 250 SmallCap Index slumped 1.35%.

The market breadth was weak. On the BSE, 1,075 shares rose and 2,596 shares fell. A total of 216 shares were unchanged.

The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, rallied 5.18% to 22.16.

Buzzing Index:

The Nifty Auto index tumbled 2.93% to 25,166.95. The index dropped 5.99% in two consecutive trading sessions.

TVS Motor Company (down 3.71%), Bharat Forge (down 3.65%), Mahindra & Mahindra (down 3.59%), Samvardhana Motherson International (down 2.96%), Tata Motors Passenger Vehicles (down 2.95%), Hero MotoCorp (down 2.7%), Ashok Leyland (down 2.47%), Bosch (down 2.43%), Maruti Suzuki India (down 2.41%) and Tube Investments of India (down 2.38%) declined.

Stocks in Spotlight:

Enviro Infra Engineers jumped 8.51% after the company has secured a new project from Bihar Urban Infrastructure Development Corporation for the development of sewerage network and Sewage treatment plant (STP) at Aurangabad.

Relaxo Footwears slipped 1.51% after Prince Jain resigned as chief financial officer (CFO) and key managerial personnel (KMP) of the company, effective from the close of business hours on 11 March 2026.

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Markets crash yet again: Why are Sensex, Nifty falling today? Key reasons

by Hansraj Agrawal | Mar 12, 2026 | Share Market

Stock market crash today reasons: Stock market benchmark indices Sensex and Nifty opened deep in the red today as investor sentiment remained fragile amid escalating geopolitical tensions in the Middle East. The BSE Sensex started the session with a cut of nearly 500 points at 76,369.65. The index made a low of 75,871.18, down 992 points or 1.3 per cent in early morning deals. Similarly, the Nifty 50 index fell 192 points or 0.80 per cent to open at 23,674. The 50-share pack made a low of 23,556.30 as it cracked 310 points or 1.30 per cent.

As of 9:35AM, both the benchmark indices were trading near their lows with Sensex quoting at 75,965 and Nifty at 23,585.

The sectoral participation remained negative, reflecting broad-based weakness across the market. All the indices were trading in the red, with the Nifty Auto, Nifty Realty, and Nifty Consumer Durables falling more than 2 per cent each. The Nifty Bank index tumbled 750 points or 1.3 per cent to trade at 54,980, with all 14 constituents trading in the red.

On the broader front, pressure was visible across the board. The Nifty Midcap 100 and Nifty Smallcap 100 indices declined more than 1.5 per cent.

India VIX, the fear gauge index, spiked 4 per cent to cross the 21 mark, signaling underlying uncertainty in the markets.

With today’s sharp decline, the BSE Sensex has lost more than 2,300 points, while the NSE Nifty has dipped over 700 points. In the previous session, the 30-share BSE Sensex tumbled 1,342.27 points or 1.72 per cent to 76,863.71. The NSE Nifty tanked 394.75 points or 1.63 per cent to 23,866.85.

Markets crash today: Key reasons

Oil prices above $100: Brent crude jumped above $100 a barrel after Oman cleared all vessels from its key export oil terminal and two tankers were attacked in Iraqi waters, underscoring the broader risks to energy assets across the Middle East and overshadowing a record release from the IEA. The global benchmark soared as much as 10.5 per cent to $101.59 a barrel, while West Texas Intermediate surged near $96.

VK Vijayakumar, Chief Investment Strategist, Geojit Investments, said that external headwinds have pushed the market into a weak zone. With the war continuing to rage with no signs of let up and Brent crude again bouncing back to $100 levels, the weakness is likely to persist.

Weak INR: The rupee depreciated 31 paise to 92.32 against the US dollar today, pressured by FII outflows, rising global crude oil prices and a stronger greenback. The local unit declined 16 paise to settle at 92.01 against the US dollar on Wednesday.

Dilip Parmar, senior research analyst, HDFC Securities, said that intensified geopolitical tensions in West Asia have triggered risk-averse sentiment and pushed crude oil prices higher — both of which have weighed heavily on the rupee. Tight dollar liquidity has further exacerbated the decline, driven by capital outflows from domestic equity and debt markets.

In the near term, the analyst said, spot USDINR finds immediate support at 91.60, with key resistance seen at 92.40.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.24 per cent higher at 99.47.

Global markets: Shares fell in Asia as oil prices jumped on reports that more ships had been struck in the Strait of Hormuz and in Iraqi waters. Japan’s Nikkei 225 index fell 1.8 per cent, and South Korea’s Kospi and Hong Kong’s Hang Seng index also dropped 1.2 per cent each. Shanghai’s SSE Composite index was seen trading in the red with a loss of 0.65 per cent.

Overnight, the US markets ended mostly flat, with the Dow Jones and the S&P 500 down slightly. The tech heavyweight Nasdaq Composite settled with positive bias.

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Jefferies names Sai Life Sciences top CRDMO pick, lists 10 reasons to buy

by Hansraj Agrawal | Mar 12, 2026 | Share Market

Sai Life Sciences Ltd. is Jefferies’ top pick in the contract research, development, and manufacturing organisation (CRDMO) space, citing its integrated business model, strong growth outlook, and healthy pipeline as key drivers.

The brokerage maintained a ‘Buy’ rating on the stock with a revised price target of ₹1,300 (29 per cent upside) and raised its estimates, increasing its Financial Year 2028 (FY28) sales estimate by 3 per cent and earnings per share estimate by 5 per cent.

Jefferies said Sai Life Sciences follows a proven ‘follow-the-molecule’ model, engaging with clients from the discovery stage and supporting them through commercialisation and lifecycle management. The company has a balanced mix between contract research organisation (CRO) and contract development and manufacturing organisation (CDMO) services at about 35:65, allowing early entry into projects while sustaining growth, it added.

The brokerage noted that Sai Life remains relatively small compared with its addressable market, with FY25 sales of about $200 million, providing significant room for expansion. Over FY23 to FY26 estimates, the company has delivered a sales compound annual growth rate (CAGR) of 23 per cent and Ebitda CAGR of 57 per cent. Jefferies expects sales and Ebitda to grow at a CAGR of 17 per cent and 20 per cent, respectively, between FY26 and FY28.

The company has also continued to add new projects due to healthy win rates. In FY26, it added seven new molecules, including three commercial molecules and four in Phase III trials. Among the commercial molecules, Sai Life Sciences is believed to be the primary supplier for two, which could become meaningful revenue contributors in the coming years. Jefferies estimates that key pipeline projects could address end-market sales of more than $13 billion by calendar year 2028.

Jefferies added that there is no private equity overhang on the stock after TPG, which held about 39 per cent stake before the initial public offering, fully exited in 2025. The company also benefits from an international presence with around 110 scientists across pharmaceutical hubs such as Boston and Manchester, helping it develop new client relationships.

Sai Life Sciences currently has a net debt-neutral balance sheet, and Jefferies expects leverage to remain below 0.5 times or the company to remain in a net cash position over the next several years despite ongoing capital expenditure.

Despite delivering about 45 per cent returns since its initial public offering, including listing gains of around 20 per cent, the stock trades at about 47 times FY27 estimated earnings, broadly in line with the sector average of 48-50 times.

Jefferies also sees scope for further earnings upgrades, noting that since initiating coverage on the stock in March 2025 it has raised its FY26 revenue and profit estimates by 17 per cent and 30 per cent, respectively, and FY27 estimates by 19 per cent and 25 per cent. The brokerage said the upgrade cycle could continue as the company converts new sample supplies and an animal health project into larger commercial opportunities.

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(Disclaimer: The views and investment tips expressed by the analysts in this article are their own and not those of the website or its management. Business Standard advises users to check with certified experts before taking any investment decisions.)

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