After opening the day on a flat note, Indian benchmark indices failed to gain momentum and ended the last trading session for the fiscal year FY25 on a negative note.

Benchmark Indian equity indices settled the last trading session of the current fiscal year (FY25) in negative territory on Friday.

At the closing bell, the BSE Sensex  closed Lower by 191 points ( down 0.2%)

Meanwhile, the NSE Nifty closed points 72 lower ( up 0.3%)

Kotak Mahindra, Tata Motors, and ICICI Bank are among the top gainers today

Cipla, Wipro, and M&M, on the other hand, were among the top losers today.

The GIFT Nifty was trading at  23,624, lower by 137 points at the time of writing.

The BSE MidCap index ended 0.7% lower, and the BSE SmallCap index ended 0.4% higher.

Sectoral indices were trading mixed today, with stocks in the media sector and IT sector witnessing selling pressure. Meanwhile, stocks in the FMCG sector and banking sector witnessed buying.

The rupee is trading at Rs 85.4 against the US$.

Gold prices for the latest contract on MCX are trading 0.4% higher at Rs 88,742 per 10 grams.

Meanwhile, silver prices were trading 0.2% higher at Rs 1,01,549 per 1 kg.
 

Adani Green Shares Rise with Updates

In the news from energy sector, Adani green share price has surged over 1.7% to Rs 975.8 on the BSE after the company announced two important business updates.

Adani Green Energy made two business updates, namely one of its subsidiaries being ordered by Uttar Pradesh Power Corporation Ltd (UPPCL), and the other subsidiary commissioning of a plant in Gujarat.

Adani Green Energy has been issued a Letter of Award by UPPCL for supply of 400 MW of solar power from a grid-connected solar PV power project in Rajasthan at a tariff of Rs 2.6 per kWh for a period of 25 years.

Adani Green Energy has commissioned power projects with a total capacity of 396.7 MW in Khavda, Gujarat. These consist of a 200 MW solar project, a 109.2 MW wind power project, and an 87.5 MW solar project. With this addition, Adani Green Energy's operational renewable generation capacity has risen to 13,487.8 MW

Adani Green's share price has rallied 25% in the last month. However, so far this year, it's actually down 8%. In the last six months, the share price has dropped 51%, and over the past year, it's fallen 47%.

IREDA Shares Gain on Strong Results

Moving on to the news from energy sector, State-owned financial services company Indian Renewable Energy Development Agency Limited (IREDA) share price went up by as much as 2.9% to Rs 166. on the BSE on 28 March 2025.

IREDA share price increased after the company signed the agreement with SBI's Tokyo branch to borrow Rs 14.8 billion (bn), with an option to borrow an additional Rs 5.7 bn.

The five-year unsecured facility with bullet payment at maturity is expected to enhance IREDA's presence in the global market. Also, the loan will provide us with access to multiple funding sources, lower costs, and increased capacity to back renewable energy projects in India, the company added.

The company posted a net profit of Rs 4.3 bn which is a 27% increase from the Rs 3.4 bn reported in Q3FY24.

Established in 1987, IREDA is a government-owned enterprise that operates under the Ministry of New and Renewable Energy (MNRE). Its main goal is to support and develop projects that utilize renewable energy sources and promote energy efficiency.

IREDA also provides financing for setting up solar manufacturing units and promotes the use of renewable energy to support sustainable growth and development.

IREDA's market capitalization is around Rs 456.5 bn.
 

Indian Overseas Bank Slumps 7%

Moving on to the news from banking sector, share price of public sector lender, Indian Overseas Bank share price have taken a hit reaching a 52-week low of Rs 38.9, with a 7% drop on the BSE. This decline comes after new shares allotted to qualified institutional buyers (QIBs) were listed today.

IOB successfully raised Rs 1.4 bn through its Qualified Institutional Placement (QIP) issue. The bank allocated shares to several key investors, including Life Insurance Corporation of India, which received 123.3 million shares, IIFL Finance, which got 49.3 million shares, and SBI Pension Fund Scheme and LIC Pension Fund Scheme, which together received 24.6 million shares.

IBO share price has taken a significant hit, falling below its previous low of Rs 40.6, which was recorded on 4 March 2025. The stock has slipped by 48% from its 52-week high of Rs 75.5, achieved on 28 May 2024.

This downturn can be attributed to various factors, including the bank's recent announcement of receiving a notice of demand under Section 156 of the Income Tax Act, 1961, which has led to a demand of Rs 5.6 bn.

Furthermore, IOB's decision to raise funds through a QIP issue, which was successfully completed, has also impacted its stock price. Overall, the combination of these factors has led to a significant downturn in IOB's share price.

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