Friday, March 13
Following an Israel-Iran ceasefire, President Trump suggested China could continue purchasing Iranian oil, though the White House clarified this wasn't an easing of US sanctions. Despite Trump's call for China to buy more US oil, analysts doubt this will significantly alter China's import patterns, given existing trade dynamics and Beijing's energy security priorities.
The Union Cabinet has approved the establishment of the International Potato Centre’s South Asia Regional Centre in Uttar Pradesh, aiming to boost food security and farmer incomes. This initiative will focus on enhancing potato and sweet potato productivity through research, sustainable farming practices, and value addition, with the goal of creating employment opportunities and promoting agricultural development across South Asia.
IndiaMart Intermesh shares surged after Nuvama Institutional Equities upgraded the stock to ‘Buy,’ anticipating a demand upcycle. The brokerage expects improved traffic, increased subscriber additions, and accelerated collection growth, leading to revised earnings estimates. Nuvama also noted structural reforms and a shift in platform dynamics, contributing to the optimistic outlook and a raised target price of Rs 3,800.
External Affairs Minister S Jaishankar announced the nationwide rollout of e-Passports and Passport Seva Programme 2.0, enhancing citizen services and global mobility. Passport issuance has significantly increased, reaching 1.46 crore in 2024. The e-Passports feature contactless chip-based technology for faster immigration.
India aims to tackle the rare earth magnet supply issues. The nation plans to boost domestic production and cut dependence on China. Incentives are in the works for magnet processing units. Midwest will produce 500 tonnes this year, scaling up to 5,000 tonnes next year. Government is exploring sourcing from Japan and Vietnam.
Jaguar Land Rover (JLR), owned by Tata Motors, will begin assembling Range Rover Evoque and Velar SUVs at a new plant in Tamil Nadu by early 2026, investing Rs 9,000 crore over five years. The facility will also be a potential base for Tata's premium electric vehicles (EVs) under the Avinya brand.
Oil markets quickly recovered after Israel's strike on Iran, with Brent crude falling below $70 a barrel. Tehran's muted response, including a symbolic missile attack, eased fears of supply disruptions. The global oil system proved resilient due to increased US production, OPEC+ output, and strategic reserves, suggesting a larger crisis is unlikely despite existing geopolitical tensions.
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, soared in trade on Tuesday after Donald Trump announced a ceasefire between Iran and Israel.
Stock market today: The NSE Nifty 50 declined by 140.50 points or 0.56 per cent to close at 24,971.90. BSE Sensex, the 30-share index, which had fallen by more than 900 points during trading, partially recovered to end at 81,896.79, showing a decline of 511.38 points or 0.62 per cent.
NTPC, the state-owned power giant, plans to raise up to ₹18,000 crore through private placement of bonds or non-convertible debentures (NCDs) in the domestic market. A postal ballot notice has been issued to seek shareholders’ approval via e-voting for the fundraising. The funds will support NTPC's aggressive capacity expansion, working capital needs, and other corporate purposes.
