Wipro Ltd soars 1.63%

by Hansraj Agrawal | Mar 11, 2026 | Share Market

Last Updated : Mar 11 2026 | 1:31 PM IST

Wipro Ltd is quoting at Rs 204.2, up 1.63% on the day as on 12:49 IST on the NSE. The stock is down 23.96% in last one year as compared to a 6.77% spurt in NIFTY and a 17.62% spurt in the Nifty IT index.

Wipro Ltd is up for a third straight session in a row. The stock is quoting at Rs 204.2, up 1.63% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 1.11% on the day, quoting at 23992.55. The Sensex is at 77251.97, down 1.22%. Wipro Ltd has dropped around 6.79% in last one month.

Meanwhile, Nifty IT index of which Wipro Ltd is a constituent, has dropped around 9.8% in last one month and is currently quoting at 30024, down 0.37% on the day. The volume in the stock stood at 137.35 lakh shares today, compared to the daily average of 191.96 lakh shares in last one month.

The benchmark March futures contract for the stock is quoting at Rs 203.63, up 1.53% on the day. Wipro Ltd is down 23.96% in last one year as compared to a 6.77% spurt in NIFTY and a 17.62% spurt in the Nifty IT index.

The PE of the stock is 17.53 based on TTM earnings ending December 25.

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First Published: Mar 11 2026 | 1:31 PM IST

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Jio Financial Services gains on bullish brokerage call

by Hansraj Agrawal | Mar 11, 2026 | Share Market

Jio Financial Services advanced 1.84% to Rs 240.45 after the domestic broker intiated coverage on the stock with a “buy” call, and set a target price of Rs 320 per share.

The brokerage noted that Jio Financial Services is being architected as India’s next-gen financial services platform aimed to operated across lending, payments, asset management, wealth management and insurance manufacturing and broking, and other digital financial services. It said Jio Financial Services leverages the ecosystem synergies, data, distribution and discipline for scalable finance.

It also said Jio Financial’s core investment thesis centres on its ecosystem-led operating advantage, leveraging Jio’s subscriber base of over 500 million and the extensive retail footprint of the Reliance Group. It said that unlike traditional NBFCs that face high customer acquisition costs, Jio Fin benefits from a lower-cost entry into the daily digital lives of nearly half of India’s population.

The brokerage added that while its near-term profitability remains subdued because of the incubation phase of multiple businesses, the groundwork has been laid across technology, partnerships, and distribution positions for the company for scalable growth over the medium to long-term.

The broker has projected Jio Financial Services’ consolidated Profit After Tax (PAT) to grow at a Compounded Annual Growth Rate (CAGR) of 48% over financial year 2026-2028.

Jio Financial Services is a Core Investment Company (CIC), registered with the Reserve Bank of India. JFSL is a new-age institution, which operates a full-stack financial services business through customer-facing entities, including Jio Credit, Jio Insurance Broking, Jio Payment Solutions, Jio Leasing Services, Jio Finance Platform and Service, and Jio Payments Bank.

The company reported 8.8% decline in consolidated net profit to Rs 268.98 crore despite a 105.5% surge in total revenue from operations to Rs 900.90 crore in Q3 FY26 over Q3 FY25.

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XED Executive reschedules mn GIFT City IPO; here's all you should know

XED Executive reschedules $12 mn GIFT City IPO; here's all you should know

by Hansraj Agrawal | Mar 11, 2026 | Share Market

XED Executive Development has postponed the launch of its initial public offering (IPO) to March 16, 2026, citing geopolitical tensions in the Gulf region.

The public issue will now close on March 24, 2026. The offering will be the first IPO to be launched from GIFT City, India’s International Financial Services Centre.

The company said it decided to defer the IPO from the earlier planned date of March 6 due to the ongoing conflict in the Middle East, which has weighed on investor sentiment and created uncertainty in the markets. It added that the revised schedule has been approved by the authorities at IFSC and the listing exchanges.

John Kallelil, founder and managing director at XED, said, in view of recent geopolitical developments, the company has adjusted the opening and closing timeline of its maiden IPO through GIFT City.

“We remain confident about the offering and are committed to concluding the process successfully within this month,” he added.

Here are the key details of XED Executive IPO:

XED Executive IPO structure, price band

The total offer size is $12 million (around ₹100 crore), including a fresh issue of $9.6 million and an offer for sale (OFS) of $2.4 million. The company has set the price band at $10-$10.5 per share.

The shares will be listed on the NSE International Exchange and the India International Exchange at GIFT City, and will be traded in US dollar-denominated instruments aimed at overseas investors.

XED Executive IPO registrar, lead manager

Kfin Technologies is the registrar for the issue. Global Horizons Capital Advisors (IFSC) is the book-running lead manager of the issue.

XED Executive IPO objective

According to the RHP, XED plans to utilise the IPO proceeds for technology capital expenditure of $1.8 million, working capital requirements of $2.4 million, and IPO-related expenses of $1.2 million. The company has also earmarked $4.2 million for general corporate purposes and potential acquisitions. Unlike most Indian IPOs, the company has explicitly allocated funds for inorganic expansion.

XED Executive IPO: Who can invest?

The XED Executive Development IPO will not be open to domestic retail investors. Instead, the offering will be available only to qualified global participants under the framework of the International Financial Services Centres Authority (IFSCA). Eligible investors include non-resident Indians (NRIs), foreign portfolio investors (FPIs), institutional investors, and authorised overseas participants. This structure is aligned with GIFT City’s broader objective of attracting global capital and facilitating cross-border investments.

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Sedemac Mechatronics makes a solid debut

by Hansraj Agrawal | Mar 11, 2026 | Share Market

Shares of Sedemac Mechatronics were currently trading at Rs 1,546 at 10:05 IST on the BSE, representing a premium of 14.35% as compared with the issue price of Rs 1,352.

The stock was listed at Rs 1,510, reflecting a premium of 11.69% to the issue price.

So far, the stock has hit a high of Rs 1,560.25 and a low of Rs 1,504.30. On the BSE, over 0.61 lakh shares of the company were traded in the counter so far.

Sedemac Mechatronics was subscribed 2.68 times. The issue opened for bidding on 04 March 2026 and it closed on 06 March 2026. The price band of the IPO is fixed between Rs 1,287 and 1,352 per share.

The issue comprised only an offer for sale of 80,43,300 equity shares (of which 1,12,500 were promoter equity shares, and the balance were offered by investor selling shareholders). The object of the issue was to provide an exit option for ISS by listing the equity shares on the exchange.

Sedemac Mechatronics, promoted by Prof. Shashikanth Suryanarayanan and his team, designs and supplies critical ECUs and motors for vehicles and industrial equipment in India, the US, and Europe. Its key products include ISG ECUs, EFI ECUs, integrated ISG+EFI ECUs, MCUs for EVs, and genset controllers. The company holds approximately 35% of the domestic 2/3W ISG ECU market share, approximately 75% of the share in Indian genset controllers, and approximately 14% of the global share in genset controls. A pioneer in innovation, it introduced SmartIgn, eGov controllers, and SLC-based ISG ECUs, working closely with Tier-I OEMs to integrate proprietary solutions across product lifecycles.

Ahead of the IPO of Sedemac Mechatronics on 2 March 2026, the company raised Rs 325.88 crore from anchor investors by allotting 24.10 lakh shares at Rs 1,352 each to 23 anchor investors.

For the nine months ended 31 December 2025, the firm recorded a consolidated net profit of Rs 71.50 crore and sales of Rs 770.67 crore.

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Gold edges above $5,000 as inflation jitters ease; key US data in focus

by Hansraj Agrawal | Mar 11, 2026 | Share Market

Gold edged higher on Wednesday as inflation worries eased, while investors awaited a slew of US economic data this week to gauge the Federal Reserve’s policy trajectory.

Spot gold was up 0.3% at $5,208.08 per ounce, as of 0243 GMT. US gold futures for April delivery fell ‌0.5% to $5,216.80.

Oil prices dropped below $90 per barrel, cooling inflation concerns, a day after US President Donald Trump predicted a quick end to the war with Iran, while the International Energy Agency proposed the largest ever oil release from strategic reserves, according to a media report.

“With these (inflation) concerns having eased… hedging and safe-haven attributes (of gold) has once again come to the fore. So, I think from current levels we remain optimistic,” said Nikos Kavalis, Singapore managing director of Metals Focus.

The US and Israel pounded Iran with what the Pentagon and the Iranians on the ground called the most ‌intense airstrikes of the war, despite global markets betting that Trump will seek to end the conflict soon.

The war has effectively shut the Strait of Hormuz, a chokepoint for a fifth of global oil and liquefied natural gas, stranding tankers for more than a week and forcing producers to halt output as storage fills, driving energy prices soaring.

The US military “eliminated” 16 Iranian mine-laying vessels near the Strait of Hormuz on Tuesday, the US Central Command said in a statement.

Bullion, traditionally viewed as a safe-haven asset, has risen more than ‌20% so far this year, notching successive record highs amid heightened geopolitical and economic uncertainty.

“I think it’s very likely that we’ll see gold get to over $6,000 an ounce ‌by the third or fourth quarter this year, probably even higher early next year,” Kavalis said.

Markets ‌are now awaiting the US consumer price index for February, due later in the day, and the Personal Consumption Expenditures (PCE) index – the Fed’s preferred inflation gauge – on Friday.

Investors ‌expect the Fed to keep rates steady at the end of its two-day meeting on March 18, per CME Group’s FedWatch tool.

Spot silver edged 0.1% lower to $88.35 per ounce. ‌Spot platinum lost 0.5% to $2,190.44, while palladium rose 0.8% to $1,667.73.

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Waaree Renewable bags 300 MW solar EPC project

by Hansraj Agrawal | Mar 11, 2026 | Share Market

Last Updated : Mar 11 2026 | 8:04 AM IST

Waaree Renewable Technologies said that it has signed a contract to execute engineering, procurement and construction (EPC) works for a ground-mounted solar photovoltaic (PV) plant with a capacity of 300 MWac/420 MWp.

The company stated that the project is expected to be completed in the financial year 202728, as per the terms of the order.

Waaree Renewable Technologies (WRTL) is a subsidiary company of the Waaree Group and is spearheading the Solar EPC business. We are also a solar developer that finances, constructs, owns, and operates solar projects. Headquartered in Mumbai, we operate across geographies, focusing on long-term investments within the commercial and industrial customer segments.

The companys consolidated net profit surged 124.74% to Rs 120.19 crore in Q3 FY26 as against Rs 53.48 crore in Q3 FY25. Revenue from operations zoomed 136.18% year on year (YoY) to Rs 851.06 crore in Q3 FY26 over Q3 FY25.

Shares of Waaree Renewable Technologies rose 0.54% to close at Rs 798.35 on the BSE.

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First Published: Mar 11 2026 | 8:04 AM IST

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