Ola Electric Got Sued! 👨🏻‍⚖️

Csi GIF by CBS

 

Tale of the Tape 

Happy Monday y’all.

It was a green Monday for markets after a long time. $NIFTY50.NSE ( ▼ 0.68% ) and Sensex added nearly half a per cent after opening flat. Midcaps (+0.7%) and Smallcaps (+0.5%) also climbed higher. The advance-decline ratio stood at 3:2 in favour of the bulls.

Most sectors were up. Pharma (+1.6%) gained the most followed by NBFCs (+1%) and Autos (-0.9%). Realty (-0.4%) closed down for a third straight day.

$INDUSINDBK.NSE ( ▼ 1.03% ) has faced some turbulence recently, but history suggests that short-term sentiment doesn’t always dictate long-term outcomes. Check out our top story for more deets.

$OLAELEC.NSE ( ▼ 0.28% ) hit a new all-time low after Rosmerta Technologies sued the company for defaulting on its payments. 

$LTIM.NSE ( ▲ 0.34% ) was under pressure after reports said that Citi Group (one of its top 5 clients) plans to slash IT contractors, hire staff to improve controls.

$PIIND.NSE ( ▲ 1.09% ) hit a 1-month high. Global brokerage firm Investec sees a 22% upside from current levels.

$MARUTI.NSE ( ▲ 0.36% ) will increase prices by up to 4% from April. The stock jumped +2% intraday before ending flat.

Private Equity giant Blackstone will buy a 40% stake in $KOLTEPATIL.NSE ( ▲ 0.8% ) for Rs 1,167 cr.

$PATANJALI.NSE ( ▲ 0.06% ) enters insurance with Rs 4,500 cr Magma General acquisition.

Here are the closing prints:

Nifty

22,509

+0.5%

Sensex

74,170

+0.5%

Bank Nifty

48,354

+0.6%

Stock
Picture Abhi Baaki Hai Mere Dost!

$INDUSINDBK.NSE ( ▼ 1.03% ) has faced some turbulence recently, but history suggests that short-term sentiment doesn’t always dictate long-term outcomes. Here's why the bigger picture isn’t as dire as some would suggest.

While regulatory scrutiny remains a hot topic, the Reserve Bank of India (RBI) has not raised any red flags regarding the bank’s financial health. This reaffirms IndusInd’s stability at a time when clarity is key. 

Looking ahead, the bank has multiple tailwinds. A revival in the microfinance sector, improving banking liquidity, and the possibility of rate cuts could support profitability. A key sentiment booster could also come from the RBI approving the promoter’s stake increase, which would signal confidence in the bank’s future.

IndusInd Bank has weathered storms before and come out stronger. This time may be no different, according to SEBI RA Thoviti Brahmachary. He says that the stock has taken support at a key trendline and RSI is in the oversold zone, hinting at a potential reversal. Historically, such declines are followed by consolidation and recovery. As long as March 12th low holds, optimism stays intact. With RBI’s reassurance, a rebound may be on the way.

Subscribe to keep reading

This content is free, but you must be subscribed to The Daily Rip India to continue reading.

I consent to receive newsletters via email. Sign up Terms of service.

Already a subscriber?Sign in.Not now