Govt Duty Lifts Stylam
- 26th March 2025
Aaj Ka Bazaar
The US market closed higher overnight for the third consecutive session as investors reacted to data indicating a decline in consumer confidence for the fourth straight month, along with President Trump’s more lenient tariff plan. The rating agency Moody’s has issued a warning regarding the US fiscal outlook, stating that Trump’s policies could complicate efforts to offset the increasing deficit and debt. Asian markets saw modest gains this morning after the US Commerce Secretary suggested the Trump administration may walk back some tariffs that sparked a global selloff in markets. The Indian market is expected to open slightly higher on Wednesday, reflecting positive signals from global markets despite indications of decreasing US consumer confidence. A weaker dollar and foreign inflows may help limit any potential losses, as investors anticipate cues from the upcoming earnings season.
Markets Around Us
BSE Sensex – 77,987.45 (-0.04%)
Nifty 50 – 23,684.40 (0.07%)
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Dow Jones – 42,634.68 (0.10%)
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Nikkei 225 – 38,039.65 (0.67%)
Hang Seng – 23,415.89 (0.25%)
Sector: Plywood Board
Stylam Industries surges on Anti-Dumping Duty
Shares of Stylam Industries jumped 8% to ₹1,801 on March 26 after the government imposed a five-year anti-dumping duty on Acrylic Solid Surface imports from China. This is a big win for Stylam, as the company produces nearly 70–80% of these surfaces in India. The duty is expected to protect local manufacturers like Stylam from unfairly cheap imports, boosting its market position and profitability. Acrylic Solid Surfaces are used in countertops, walls, furniture, and more, making them a key product for the company. Analysts are optimistic, projecting strong growth in revenue and earnings over the next few years, and have set a target price of ₹2,582 for the stock. Although the stock had dropped 12% in the last six months, this latest move could signal a positive turnaround. Stylam’s Q3 results showed a strong rise in revenue despite a dip in profit due to higher costs, which the new policy may help offset.
Why it Matters:
The anti-dumping duty gives Stylam Industries a strong advantage, as it makes up 70–80% of India’s Acrylic Solid Surface production. With cheaper Chinese imports restricted, Stylam can protect its pricing power and market share. This policy shift is expected to drive long-term growth and improve investor confidence in the stock.
NIFTY 50 GAINERS
INDUSLND BANK– 655.90 (2.49%)
POWER GRID CORP– 291.00 (1.51%)
BHARTI AIRTEL – 1765.00 (1.12%)
NIFTY 50 LOSERS
DR REDDYS – 1177.90 (-1.77%)
NTPC – 369.00 (-1.04%)
TECH MAHINDRA – 1455.50 (-0.89%)
Sector : Financial Institution
IREDA Raises ₹910 Crore Through Bonds
IREDA shares were in focus on March 26 after the company raised ₹910.37 crore by issuing privately placed Tier-II bonds with a 10-year term and an interest rate of 7.74% per year. This move aims to boost its capital base, support future borrowing, and strengthen its ability to fund clean energy projects. The funds will increase IREDA’s Tier-II capital, improving its financial strength and capital adequacy ratio. This comes shortly after the company launched its first-ever perpetual bonds to raise ₹1,247 crore for Tier-I capital. IREDA also raised its borrowing limit for FY25 to ₹29,200 crore from ₹24,200 crore, signaling an aggressive push to support India’s renewable energy goals. The company plans to use various instruments like bonds, loans, and external borrowings. Analysts remain optimistic, with Geojit Financial giving a ‘Buy’ rating and a target price of ₹196, suggesting a 15% upside from the current levels.
Why it Matters:
IREDA’s bond issuance strengthens its capital base, enabling more funding for clean energy projects. With India targeting 500 GW of non-fossil fuel energy by 2030, this move supports national goals. It also reflects strong investor confidence in IREDA’s financial health and long-term strategy.
Around the World
Asian currencies moved slightly lower on Wednesday as traders remained cautious ahead of the U.S. imposing new trade tariffs from April 2. While President Trump may take a more selective approach targeting specific countries, uncertainty over the impact on global trade is keeping investors on edge. The Chinese yuan, Korean won, and Japanese yen all edged higher slightly, with the yen gaining 0.4% after Japan’s central bank hinted at possible rate hikes if inflation picks up. The Indian rupee stayed flat. Meanwhile, the Australian dollar held steady after inflation data showed a slight cooling, increasing chances of future interest rate cuts by the Reserve Bank of Australia. Australia’s CPI came in at 2.4%, supporting the RBA’s target range. In Thailand, Prime Minister Paetongtarn survived a no-confidence vote, but the Thai baht weakened by 0.5%. Overall, the U.S. dollar index rose to 104.28, reflecting investor preference for safer assets amid ongoing trade policy concerns.
Option Traders Corner
Max Pain
Nifty 50 – 23500
Bank Nifty – 51200
Nifty 50 – 23713(Pivot)
Support – 23,556, 23,445, 23,288
Resistance – 23,825, 23,981, 24,093
Bank Nifty – 51700 (Pivot)
Support – 51,337, 51,066, 50,702
Resistance – 51,971, 52,334, 52,605
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