Asian markets traded mixed on Monday. Japan's benchmark Nikkei 225 was flat while the Topix index fell 0.1%.

US stock market ended higher on Friday after Federal Reserve Chair Jerome Powell said the economy was "in a good place".

However, Wall Street saw the biggest weekly decline in months amid uncertainty about US trade policy.

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

Source: Equitymaster

At present, the BSE Sensex is trading 367 points higher, and the NSE Nifty is trading 112 points higher.

Hindalco, HUL, and Adani Ports are among the top gainers today.

Trent, Bajaj Auto, and L&T, on other hand, are among the top losers today.

The BSE Midcap index is trading 0.5% higher, and the BSE Smallcap index is trading marginally lower.

Barring consumer durables sector and auto sector stocks all other sectoral indices are trading on a positive note today, with stocks in the power sector, metal sector, and FMCG sector witnessing buying.

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

ONGC's OPaL exits from Dahej SEZ

State-owned Oil and Natural Gas Corporation Ltd (ONGC) announced on March 7 that its subsidiary, ONGC Petro Additions Ltd (OPaL), has received final approval to exit the Dahej Special Economic Zone (SEZ).

The clearance, granted via a letter from the Development Commissioner of Dahej SEZ dated March 7, 2025, makes the exit effective from 8 March 2025.

With this transition, OPaL will now function as a domestic tariff area (DTA) unit, a move expected to enhance its competitiveness by streamlining supply operations in the domestic market.

ONGC, India's largest publicly traded oil and gas exploration and production company, accounts for 70% of the country's crude oil output and 84% of its natural gas production.

Operating under the Ministry of Petroleum and Natural Gas, the company is engaged in hydrocarbon exploration across 26 sedimentary basins in India and manages a vast network of over 11,000 km of pipelines nationwide.

Tata Power's Green Push

Power Company Ltd announced on March 7 that its subsidiary, Tata Power Renewable Energy Ltd (TPREL), has signed a memorandum of understanding (MoU) with the Andhra Pradesh government to develop renewable energy projects in the state.

As part of this agreement, TPREL and the state government will explore opportunities to develop up to 7,000 MW (7 GW) of solar, wind, and hybrid projects, with or without storage solutions. The estimated investment for these projects is around Rs 490 bn, marking one of the largest renewable energy commitments in Andhra Pradesh.

Beyond supporting the state's clean energy goals, these projects are expected to boost the local economy, enhance skill development, and create job opportunities, contributing to the overall socio-economic growth of the region.

The projects will be developed under Andhra Pradesh's Integrated Clean Energy (ICE) Policy, a framework designed to drive the state's renewable energy ambitions, targeting over 160 GW of capacity with an investment potential of Rs 10 trillion (tn).

As part of the agreement, TPREL will conduct preliminary assessments, feasibility studies, and development activities to explore the viability of these projects.

New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) would be providing requisite support in terms of facilitation, site identification and support in evacuation infrastructure.
 

Lupin Launches Heart Drug

Lupin Ltd announced on March 7 the launch of rivaroxaban tablets USP, 2.5 mg, in the US market following final approval from the US Food and Drug Administration (FDA) for its abbreviated new drug application (ANDA).

The drug is indicated for reducing the risk of major cardiovascular events in patients with coronary artery disease (CAD) and major thrombotic vascular events in patients with peripheral artery disease (PAD), including those who have undergone lower extremity revascularization due to symptomatic PAD.

As per IQVIA MAT data for January 2025, rivaroxaban tablets USP, 2.5 mg, recorded estimated annual sales of US$ 446 million in the US. With this launch, Lupin strengthens its presence in the high-value anticoagulant market.

Lupin is a leading pharmaceutical company from India and is among the top 10 generic companies in the world.

It started its business in 1968 and over the years has become one of the largest pharmaceutical companies in India and the world. Its businesses include formulations, APIs, drug delivery systems, and biotechnology.

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