GIFT Nifty Opening Update
GIFT Nifty opened today at 23,505.50. It is down -243.00 points (-1.02%) from yesterday’s close of 23,717.00— so the trend is negative.
The Indian stock market continued to experience bearish pressure, with the benchmark BSE Sensex declining by an additional 800 points, approximately 1%, on Thursday, March 12. Meanwhile, the Nifty 50 declined beneath the 23,650 threshold, experiencing a drop exceeding 200 points, or 1%. During the session, the 30-share index concluded at 76,034.42, reflecting a decline of 829 points, or 1.08%. Meanwhile, the broader index settled at 23,639, down 228 points, or 0.95%. Broader markets exhibited a downward trend, as evidenced by the BSE 150 Midcap Index, which decreased by 0.24%, alongside the BSE 250 Smallcap Index, which experienced a decline of 0.32%.
In the context of the ongoing US-Iran conflict, attention is expected to be directed towards these stocks on Friday, March 13, 2026 —
Equities to Monitor:
- Tata Steel has initiated proceedings in the Jharkhand High Court to contest an adjudication order issued by the Commissioner of CGST & Central Excise, Jamshedpur. The order demands the payment of Rs 493.35 crore in GST, in addition to a penalty of Rs 638.82 crore and the relevant interest for the duration spanning FY2018-19 to FY2022-23.
- Max Financial Services – The board of Max Financial Services has sanctioned a strategy to secure up to Rs 2,000 crore via a Qualified Institutional Placement (QIP) or alternative authorized methods.
- JK Lakshmi Cement has been designated as the preferred bidder for the Juipahar–New Umrangso Limestone Block (A and B) following an e-auction organized by the Government of Assam.
- Biocon announced that its wholly owned subsidiary, Biocon Pharma Ltd, has received approval from the U.S. Food and Drug Administration for its Abbreviated New Drug Application (ANDA) concerning Liraglutide Injection (gVictoza), 18 mg/3 mL (6 mg/mL), which is offered in single-patient-use prefilled pens.
- Indian Overseas Bank – The board of Indian Overseas Bank has declared a modification to the Marginal Cost of Funds Based Lending Rate (MCLR), set to take effect on March 15.
- Nectar Lifesciences’s board has sanctioned an inter-corporate loan agreement amounting to Rs 100 crore with its wholly owned subsidiary, Avensis Exports Private Ltd.
- Gandhar Oil Refinery (India) reported that escalating geopolitical tensions in West Asia have resulted in various operational difficulties. These include a 20% increase in base oil prices over the last 15 days, a significant depreciation of the Indian rupee, and heightened freight costs stemming from disruptions in global shipping routes and a constrained supply of marine insurance.
- Adani Ports and Special Economic Zone Ltd has disclosed the conclusive outcomes of its previously initiated $495 million cash tender offer aimed at repurchasing a segment of its US dollar-denominated senior notes set to mature in 2027 and 2031, in alignment with its comprehensive capital management strategy.
- Balaji Amines is facing logistics disruptions in ammonia procurement as a result of the ongoing conflict in West Asia, which is impacting the supply of this essential raw material.
- Manorama Industries announced that its board has sanctioned a plan to raise as much as Rs 500 crore via the issuance of securities. The fundraising process may occur in one or more tranches and could encompass equity shares, non-convertible debt instruments with warrants, convertible securities, or other qualifying instruments.