Thursday's Market Spotlight: Wipro, IDFC First Bank, Ashok Leyland Among Top Stocks in Focus

Indian Stock Market Report - March 12, 2026

Market Outlook

The Indian stock market is expected to open lower on Thursday, following weak global market cues. Investor sentiment remains cautious due to surging crude oil prices, which are fueling inflation concerns, and escalating tensions between the US and Iran in the Middle East.

Market Performance

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On Wednesday, the Indian stock market witnessed a sharp decline amid concerns surrounding the ongoing US-Iran conflict. The BSE Sensex plunged 1,342.27 points (1.72%) to settle at 76,863.71, while the Nifty 50 dropped 394.75 points (1.63%) to close at 23,866.85.

Company Updates

• Wipro has signed a multi-year agreement to support business and technology modernisation for the retirement services division of TruStage, an insurance and financial services provider headquartered in Madison.
• Borosil's oil marketing customers have imposed limits on LPG supply, citing a force majeure situation caused by the ongoing conflict in the Middle East and its resulting disruption to global fuel supplies.
• IDFC First Bank has been served with search notices by the Enforcement Directorate in connection with the alleged embezzlement of ₹590 crore from the Government of Haryana accounts maintained with IDFC First Bank in Chandigarh.
• Adani Enterprises has informed stock exchanges that its wholly owned subsidiary, Adani Defence Systems and Technologies, has executed a Business Transfer Agreement with Punj Lloyd for the acquisition of the latter's defence unit located in Malanpur, Madhya Pradesh.
• Ashok Leyland plans to invest up to ₹500 crore to set up a greenfield battery pack manufacturing facility near Chennai.
• KEC International has secured fresh orders worth ₹1,476 crore for transmission and distribution projects across India, the Middle East, Africa, and the Americas.
• Bharat Forge has invested ₹160 crore in Bharat Forge Global Holding GmbH, its wholly owned subsidiary.
• Mahanagar Gas has been affected by curtailment of gas supply to its industrial and commercial customers, and is currently evaluating the overall impact.
• Redington has received a favourable ruling from the Commissioner of Income Tax (Appeals), which set aside a demand of ₹230.21 crore out of the total ₹233.66 crore raised by the Assessing Officer for the assessment year 2020–21.
• Samvardhana Motherson International has signed a Share Purchase Agreement to acquire a 100% stake in Yutaka Autoparts India.