Asian shares climbed after China pledged more steps to revive consumption. US equity futures slid as Treasury Secretary Scott Bessent dismissed the market's recent decline as healthy.

The stock market has sunk near a six-month low as concerns over slowing economic growth and fear of how tariffs could impact the outlook have shaken investor confidence.

Last week, the S&P 500 fell nearly 2.3%, while the Dow Jones dropped 3%, or more than 1,300 points.

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

Source: Equitymaster

At present, the BSE Sensex is trading 492 points higher, and the NSE Nifty is trading 155 points higher.

M&M, Bajaj Finserv, and IndusInd Bank are among the top gainers today.

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

The BSE Midcap index is trading 0.9% higher, and the BSE Smallcap index is trading 0.7% higher.

Sectoral indices are trading mixed today, with stocks in the metal sector, capital goods sector, and auto sector witnessing buying. Meanwhile, stocks in the media sector and realty sector are witnessing selling pressure.

The rupee is trading at Rs 86.8 against the US dollar.
 

Tata Motors to Consider NCD Issue

Tata Motors Ltd., a leading player in the domestic and commercial vehicle space, has informed the exchanges that its board will convene on Wednesday, March 19, to consider a fund-raising proposal of up to Rs 20 billion.

The capital will be raised through the issuance of rated, listed, unsecured, and redeemable Non-Convertible Debentures (NCDs) on a private placement basis.

The company's board had previously approved similar fund-raising plans in March and May last year. The proceeds from this issuance are expected to be allocated toward general corporate purposes, including research and development, capacity expansion, and working capital requirements.

Further details, including the coupon rate and maturity period, are likely to be discussed during the upcoming board meeting.

Meanwhile, Tata Motors' CFO recently reassured analysts that Jaguar Land Rover (JLR) remains on track to achieve its fourth-quarter EBIT margin guidance of 10% and is poised to turn net debt-free by the end of the financial year. The CFO also highlighted that while the US market continues to perform well, Tata Motors is witnessing strong outperformance in China through JLR.

IndusInd Bank Shares in Focus

Shares of IndusInd Bank Ltd. are expected to remain in focus after the Reserve Bank of India (RBI) issued a statement addressing speculation surrounding the private lender. The central bank clarified that IndusInd Bank remains well-capitalized and that its financial position remains satisfactory.

As per RBI's statement, the bank reported a Capital Adequacy Ratio of 16.46% and a Provision Coverage Ratio of 70.2% for the quarter ended December 31, 2024. Additionally, the bank maintained a Liquidity Coverage Ratio (LCR) of 113% as of March 9, 2025, surpassing the regulatory requirement of 100%.

The clarification from the RBI comes amid concerns arising from recent developments related to the bank. During an internal review of certain processes within its derivatives portfolio, IndusInd Bank estimated an adverse impact of 2.35% on its net worth due to discrepancies in account balances, as disclosed in a company filing on March 10.

The RBI has directed the bank's board and management to complete the necessary remedial actions within the ongoing quarter, Q4FY25, while ensuring all required disclosures are made to stakeholders.
 

Infosys to Settle Lawsuits

Infosys announced on March 14 that it has reached an agreement in principle to settle six class action lawsuits filed against its subsidiary, Infosys McCamish Systems (McCamish), and some of McCamish's customers. The lawsuits were related to a cyber incident, and the company has agreed to pay $17.5 million to resolve the matter.

The Bengaluru-based IT firm stated that the proposed settlement would bring an end to all pending class action lawsuits and address all allegations made in the case. According to Infosys, once approved, the settlement will resolve the allegations without any admission of liability.

The company further disclosed that McCamish and the plaintiffs engaged in mediation on March 13, 2025, which led to the agreement in principle. The lawsuits stemmed from a cyber incident in November 2023, which resulted in the non-availability of certain applications and systems at Infosys McCamish Systems.

In a stock exchange filing, Infosys had earlier stated that it was working with a leading cybersecurity solutions provider to resolve the issue and had also initiated an independent investigation to assess the potential impact on systems and data.

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