📈 Sensex & Nifty on a Roll! (Mar 6)

☀️ Good Morning! It's Thursday, March 6th! Or as we like to call it here..FRIDAY JUNIOR!

As usual, we’re brewing up the latest in business, tech, and markets with a fun twist. Let's dive right in!

☕ Chai Shots

• 🔥 Sensex and Nifty: The Nifty’s 10-day losing streak finally ends with a bang! With Sensex and Nifty both rallying, traders are breathing a sigh of relief as tariff relief hopes and positive global cues drive market optimism.

• 📈 Ola Electric Goes In-House: Ola plans to handle vehicle registrations internally to cut costs from ₹1,500-1,800 per EV to ₹300. However, the company still owes ₹17-18 crore to Rosmerta.

• 🚗 Tesla’s Indian Showroom: Tesla to open its first India showroom in Mumbai’s Maker Maxity Building, with a 4,000 sq. ft. space. The Model Y, priced at ₹60-70 lakh, will compete with entry-level EVs from Mercedes, BMW, and Audi.

• 📜 New Income Tax Bill Concerns: The new Income Tax Bill, effective April 2026, could allow tax officers to access individuals' social media and email accounts if there's suspicion of non-disclosure of income. This raises privacy concerns among industry experts.

• 🚀 Darwinbox Brews Up $140M Funding! The HR tech unicorn is all set to accelerate its global expansion, with Partners Group and KKR leading the investment round. Talk about brewing success- more in the Big Brew! ☕️

🟠 Market Masala

• 📈 Nifty and Sensex Break Losing Streak: The Nifty 50 snapped a 10-day losing streak, closing 254.65 points higher at 22,337.30. The BSE Sensex surged 740.30 points to end at 73,730.23, riding on tariff relief hopes and positive global cues.

• 📊 Broad Market Gains: The BSE mid-cap and small-cap indexes surged 2.7% and 2.8%, respectively, showing strong recovery after a recent sharp correction. Market breadth was positive, with 3,241 shares rising while only 771 declined.

• 🚀 Top Performers: Mahindra & Mahindra, Power Grid Corp, Adani Enterprises, Tata Steel, and Adani Ports led the charge, rallying 4-5% in the Nifty pack. Meanwhile, Bajaj Finance, IndusInd Bank, and HDFC Bank underperformed, slipping 1-3%.

• 💡 Havells’ Diversification Strategy: Despite UltraTech’s entry into the cables business, Havells expects strong growth due to its diversified portfolio. The company is ramping up its Tumakuru facility to increase capacity by 50-60%.

• 💸 RBI to Inject Liquidity: The RBI will conduct ₹1 lakh crore in bond purchases and a $10 billion forex swap to address liquidity deficits ahead of the March 15 advance tax deadline.

🌎 Global Masala

• 🌐 Trump’s Tariff Tango: US markets rallied as Trump announced a one-month auto tariff exemption for Mexico and Canada, providing relief to automakers like Ford, GM, and Stellantis. The Dow climbed 485.60 points, S&P 500 rose 1.12%, and Nasdaq gained 1.46%. However, uncertainty remains with upcoming reciprocal tariffs set for April 2. The tariffs could increase costs in the materials and industrials sectors, impacting investor sentiment.

• 📈 German Stocks Surge: Germany’s DAX index soared 3.6%, its biggest gain since November 2022, as lawmakers proposed debt policy reforms and a €500 billion defense and infrastructure fund.

• 💰 U.K. Borrowing Costs Jump: The yield on 10-year U.K. government bonds rose 15 basis points to 4.688%, marking the largest daily increase since April 2024.

• 💷 Pound Gains Strength: The British pound rose 0.5% against the U.S. dollar following comments from the Bank of England signaling a cautious monetary policy approach.

• 🏗️ European Banks Rally: Deutsche Bank shares gained 11.3%, and Commerzbank rose nearly 7% amid optimism about Germany’s fiscal shif

☕️ The Big Brew: Darwinbox's $140M Funding Brewed to Perfection! 🚀

Darwinbox, the Hyderabad-based HR tech star, just secured a whopping $140 million in fresh funding, with investment giants Partners Group and KKR leading the round. 🤑 This homegrown unicorn is all set to conquer the global HR tech space, particularly eyeing the U.S. market. 🌎

• 📈 Rapid Growth: Darwinbox serves over 1,000 enterprises worldwide, managing over 3 million employees with its AI-powered human capital management platform.

• 🌍 Going Global: 60% of its revenue now comes from international markets, with significant traction in the U.S., Middle East, and Asia Pacific.

• 🤖 Tech-Driven Approach: Known for its mobile-first, deeply configurable platform, Darwinbox is focusing on AI innovations and multi-country payroll solutions to cater to diverse market needs.

💡 What Does This Mean?
For Indian startups, Darwinbox’s success is a testament to the global potential of niche, tech-driven solutions. For businesses, it signals a maturing HR tech space where employee experience is king!

🚀 Startup Scoop

• 🌸 Naarica Teams Up with Saina Nehwal: Naarica, the menstrual hygiene startup, partners with badminton icon Saina Nehwal as an investor and brand ambassador. The brand aims to revolutionize menstrual care in India with eco-friendly, absorbent intimate wear.

• 🚀 OYO Accelerates IPO Plans: With a $383 million debt repayment looming, OYO is fast-tracking its IPO to meet founder Ritesh Agarwal’s obligations. The hotel startup is eyeing a valuation of up to $5 billion, and creditors may delay repayment until 2027—if OYO goes public this year.

🧠 Chai Break Trivia

Did you know? The Bandra Kurla Complex (BKC) in Mumbai, where Tesla is setting up its first Indian showroom, was once a marshy land! Today, it’s one of the hottest business districts in the country.

🔮 What’s Brewing Next?

• 📅 March 12 & 18: RBI’s open market operations worth ₹50,000 crore each.

• 💱 March 24: Dollar-rupee buy/sell swap auction of $10 billion by RBI.

That's all for today, folks! Sip your chai, and we'll catch you tomorrow with more spicy updates! ☕🍃