UCO Launches ₹2K QIP
- 24th March 2025
Aaj Ka Bazaar
The US market ended mostly higher on Friday, after having fallen sharply earlier following downbeat comments from FedEx about the economic outlook. All three major averages fell by nearly 1% earlier in the day before closing higher as President Trump indicated he’d retain flexibility when it comes to a reciprocal tariff plan expected on April 2. Asian markets struggled for direction this morning after Chinese officials warned of widespread shocks to the global economy from US trade policy. Indian market is seen opening higher on Monday as US President Donald Trump signaled flexibility on upcoming reciprocal tariffs and two Federal Reserve officials downplayed the recent rise in inflation expectations. Movements in US bond yields, foreign fund flows, the direction of rupee and expectations around the upcoming earnings season may sway sentiment as the week progresses.
Markets Around Us
BSE Sensex – 77,315.45 (0.53%)
Nifty 50 – 23,473.20 (0.53%)
Bank Nifty – 51,020.95 (0.84%)
Dow Jones – 42,186.27 (0.46%)
Nasdaq – 17,784.05 (0.52%)
FTSE – 8,646.79 (-0.64%)
Nikkei 225 – 37,659.69 (-0.05%)
Hang Seng – 23,630.55 (-0.27%)
Sector: Banking
UCO Bank Eyes Growth via QIP
UCO Bank is in the spotlight as it launches a ₹2,000 crore Qualified Institutional Placement (QIP) at ₹34.2 per share, slightly below its previous closing price. Despite a 20% drop in its share price over the last six months, the bank reported strong Q3FY25 results with a 27% jump in net profit to ₹639 crore and a 19.6% rise in net interest income. Total income grew 15%, and asset quality improved with gross NPAs falling to 2.91% and net NPAs to 0.63%. The bank aims for 8-10% deposit growth and 12-14% credit growth in FY25 while keeping credit costs under 1%. Analysts remain optimistic due to consistent growth in Retail, Agriculture, and MSME loans, along with potential gains from corporate lending. The QIP move is seen as a step to strengthen capital and fund future growth, which could support better stock performance going forward.
Why it Matters:
UCO Bank’s ₹2,000 crore QIP is a key move to strengthen its capital base and support future growth. With strong Q3 results and improving asset quality, the bank is showing signs of operational efficiency. This development could revive investor interest despite recent stock underperformance.
NIFTY 50 GAINERS
LAMBODHARA– 137.14 (19.99%)
GOLDTECH– 69.08 (19.99%)
SALZERELEC – 1084.25 (11.19%)
NIFTY 50 LOSERS
VIMTALABS – 1067.50 (-7.58%)
IKIO – 273.25 (-6.72%)
QUINTEGRA – 1.72 (-5.49%)
Sector : Real Estate
Land Deal Boosts Godrej Properties Shares
Godrej Properties’ stock rose over 2% on March 24, marking its sixth straight day of gains, after the company announced the acquisition of a 10-acre land parcel in Yelahanka, Bengaluru. This new residential project is expected to have 1.5 million sq. ft. of saleable area with a revenue potential of ₹2,500 crore. The announcement comes after the company recently cancelled a land deal in Kochi. Earlier in February, Godrej sold inventory worth over ₹1,000 crore in its Hinjewadi, Pune project within just four months of acquiring that land. Despite this momentum, the stock is still down over 31% in the last six months, currently trading 35% below its 52-week high and nearly 15% above its recent low. At 9:18 AM, shares were priced at ₹2,187.95 with a market cap of ₹65,897.75 crore. The Bengaluru project signals strong growth plans and could help the company regain investor confidence.
Why it Matters:
Bain Capital’s ₹4,385 crore investment boosts Manappuram’s growth potential and strengthens its balance sheet. As a joint promoter with board presence, Bain adds strategic value, making the stock more attractive to investors.
Around the World
Asian markets traded in a narrow range on Monday as investors waited for clarity on U.S. trade tariffs under Donald Trump. While reports suggested fewer and less aggressive tariffs, concerns remained since many of the targeted countries are in Asia. Japan’s markets fell after weak March PMI data showed both manufacturing and services contracting, raising doubts about future interest rate hikes. Chinese stocks rebounded after news that Ant Group developed cost-effective AI training methods using local chips from Alibaba and Huawei, signaling progress in China’s tech independence. This boosted the CSI 300 and Shanghai Composite indexes. Hong Kong and other Asian markets remained flat, with limited movement seen in Australia, Singapore, and South Korea due to mixed local news and political uncertainty. Indian markets were also expected to open flat after last week’s strong performance. Overall, sentiment was cautious, with investors watching global trade and tech developments closely.
Option Traders Corner
Max Pain
Nifty 50 – 23200
Bank Nifty – 50000
Nifty 50 – 23295(Pivot)
Support – 23,187, 23,025, 22,918
Resistance – 23,457, 23,565, 23,727
Bank Nifty – 50385 (Pivot)
Support – 50,099, 49,605, 49,319
Resistance – 50,879, 51,166, 51,660
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India’s Retail Investor Surge: Market Participation Hits Record Highs in 2024
India’s stock market has seen a 36% rise in retail participation, with over 50 million investors active by 2024. This surge is driven by increased financial literacy, digital trading platforms, and government initiatives. Systematic Investment Plans (SIPs) have also gained popularity, with monthly contributions hitting ₹14,000 crore in early 2025. These trends reflect growing confidence in India’s equity markets.
