Asian stocks traded in a tight range after President Donald Trump played down fears of a recession, which helped US stocks stage a late-day recovery after whipsawing all day.

The US stock market suffered losses for the second consecutive session on Tuesday, even though the magnitude of losses was less severe compared to what Wall Street witnessed on Monday. Concerns over the impact of the tariff war and fears of a looming recession kept investors on edge.

Here's a table showing how US stocks performed on Tuesday:

Source: Equitymaster

At present, the BSE Sensex is trading 6 points lower, and the NSE Nifty is trading 33 points lower.

Tata Motors, HDFC Bank, and BPCL are among the top gainers today.

TCS, Wipro, and Infosys, on the other hand, are among the top losers today.

The BSE Midcap index is trading marginally higher, and the BSE Smallcap index is trading 0.4% higher.

Sectoral indices are trading mixed today, with stocks in the oil & gas sector and power sector witnessing buying. Meanwhile, stocks in the IT sector and media sector are witnessing selling pressure.

The rupee is trading at Rs 87.2 against the US dollar.
 

RVNL Wins NHAI Project

Rail Vikas Nigam Ltd (RVNL), a Navratna PSU under the Ministry of Railways, has secured a significant infrastructure contract, emerging as the lowest bidder (L1) for an Rs 5.5 bn project awarded by NHAI.

The project entails constructing a six-lane access-controlled connectivity road linking Sabbavaram bypass (Anakapalli-Anandapuram corridor) to Sheelanagar junction of NH-516C in Andhra Pradesh. It will be executed under the Hybrid Annuity Model (HAM), where investment risks are shared between the government and the private sector.

Once completed, the road will improve connectivity to Visakhapatnam Port, enhancing trade and logistics efficiency in the region. This contract win further strengthens RVNL's presence in the infrastructure and highways segment, aligning with its diversification strategy beyond railways. The company continues to expand its role in the roads and highways sector, supporting the government's broader infrastructure development initiatives.
 

TCS to Acquire Stake in Darshita Southern India Happy Homes

Tata Consultancy Services (TCS), India's largest IT services company, is set to acquire a 100% equity stake in Darshita Southern India Happy Homes for Rs 22.5 bn. The acquisition aims to secure land and infrastructure to support the expansion of TCS's delivery centre.

In a regulatory filing, the company stated that Darshita, incorporated in September 2004, is engaged in developing a commercial property intended for lease to industrial clients. As the property remains under development, it has yet to generate revenue over the past three years.

TCS holds a call option to acquire full ownership of the entity after two years. Earlier this year, the company announced the acquisition of two wholly owned subsidiaries of Tata Realty and Infrastructure Limited-TRIL Bengaluru Real Estate Five Limited and TRIL Bengaluru Real Estate Six Limited-for Rs 16.3 bn.

The deal was finalized in January 2025, with the company confirming in a regulatory filing that the Share Purchase and Securities Purchase Agreement (SSPA) had been executed between TCS, Tata Realty and Infrastructure Limited (TRIL), and the respective entities for the acquisition of 100% equity shares and optionally redeemable convertible debentures in two tranches.

Kaynes Tech Receives Show Cause Notice

Kaynes Technology India Ltd (KTIL), a semiconductor manufacturing company, has announced that its Managing Director, Ramesh Kunhikannan, has received a Show-Cause Notice from the market regulator dated March 10, 2025.

The notice pertains to alleged non-compliance in maintaining the Structured Digital Database (SDD) concerning the company's financial results for the period ending March 31, 2023, as per the Prohibition of Insider Trading Regulations, 2015.

Kaynes Technology has stated that it is currently reviewing the notice and will take necessary legal steps, including submitting a response to SEBI. The company and its leadership have reaffirmed their commitment to fully cooperating with the regulator to resolve the matter in accordance with applicable laws.
 

PB Fintech to Invest in PB Healthcare

PB Fintech Ltd, the parent company of Policybazaar, has announced that its board has approved an investment of up to Rs 6.9 bn in its wholly owned subsidiary, PB Healthcare Services Private Limited. The investment, scheduled for FY 2025-26, will be executed through the subscription or purchase of equity shares and compulsory convertible preference shares (CCPS).

The investment, which is subject to shareholder approval via postal ballot, will be made alongside external investors, including Chairman & CEO Yashish Dahiya, Executive Vice Chairman Alok Bansal, and three Key Managerial Personnel (KMPs).

PB Healthcare, incorporated in January 2025, operates in the healthcare and allied services sector. The funding is intended to support operational expenses, strengthen brand presence, and finance strategic initiatives.

Following the transaction, PB Fintech will hold up to 33.63% of PB Healthcare's equity on a fully diluted basis. The acquisition is categorized as a related party transaction and will be executed at a fair value determined by a Registered Valuer.

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