Shares of GSP Crop Science Ltd made a modest debut on the stock exchanges on Tuesday, listing at a premium of 2.5–4 per cent over the issue price of ₹320, and extended gains during the session amid healthy investor interest.

On the BSE Ltd, the stock listed at ₹332.30, reflecting a premium of 3.8 per cent against the offer price. It gathered further momentum after listing and surged to an intraday high of ₹362.30.

On the National Stock Exchange of India, the scrip debuted at ₹328, up 2.5 per cent from the issue price. Buying interest strengthened as the session progressed, pushing the stock nearly 13.4 per cent above the IPO price to hit a high of ₹363.

The strong listing performance follows a steady response to the company’s initial public offering. The ₹400-crore IPO of the agrochemical firm was subscribed 1.61 times overall. Ahead of the IPO, the company raised ₹120 crore from anchor investors. The price band for the issue was fixed at ₹304–320 per share, valuing the Ahmedabad-based company at ₹1,489 crore at the upper end.

The public issue comprised a fresh issue of shares worth ₹240 crore and an Offer For Sale of 50 lakh equity shares valued at ₹160 crore at the upper price band by promoters, taking the total issue size to ₹400 crore.

Proceeds from the fresh issue, amounting to ₹170 crore, will be utilized for debt repayment, while the remaining funds will be used for general corporate purposes.

Incorporated over three decades ago, GSP Crop Science is a research-driven agrochemical company engaged in the development and manufacturing of insecticides, herbicides, fungicides and plant growth regulators. The company has more than 39 years of operating experience in the domestic agrochemical market.

Published on March 24, 2026

Indian government bonds are expected to extend losses on Tuesday after elevated oil prices and rising US Treasury yields triggered the sharpest selloff since October 2023 in the previous session, while the focus is on a mega state debt sale.

The benchmark 6.48% 2035 bond yield will likely hover between 6.81% and 6.87%, a private bank trader said, after ending at ‌6.8379% on Monday. Bond yields move inversely to prices.

“Bond markets should be tricky today as the US is showing a keen interest in resolving the Middle East war, raising hopes that the situation will return to normal in a few days, but oil still remains above $100 per barrel,” the trader said.

The benchmark Brent crude contract was off highs on Tuesday, but hovered near $103 per barrel as Iran denied that it held talks with the United States to end the war in the Gulf, contradicting President Trump, who said a deal could be reached soon.

The 10-year Treasury yield was also off highs but stayed close to 4.40%, after breaking that ⁠level for the first time in nearly eight months on Monday.

The war is in its fourth week with no end in sight about an end, keeping oil prices up amid supply disruptions.

Higher oil prices are negative for India, the world’s third-largest crude importer, as they threaten to worsen domestic inflation and the current account deficit.

Meanwhile, Indian states will aim to raise 574 billion rupees ($6.14 billion) through bond sales on Tuesday, nearly 100 billion rupees more than scheduled and the highest quantum for this financial year.

If successful, it would push state debt ⁠issuance to a record for the current quarter and fiscal ⁠year.

RATES India’s overnight index swap (OIS) rates are expected to move with a paying bias, tracking global developments.

The one-year OIS rate ended at 5.97%, while the two-year OIS rate closed at 6.17%. The five-year swap rate settled at 6.52%. ($1 = 93.5150 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)

Published on March 24, 2026

Markets opened sharply higher on Tuesday, with the BSE Sensex and NSE Nifty 50 gaining over 1 per cent in early trade, as easing geopolitical tensions in the Middle East pulled crude oil prices lower and lifted risk sentiment globally.

At 9.26 am, the Sensex was trading at 73,671.61, up 975.22 points or 1.34 per cent, after opening at 74,212.47 against its previous close of 72,696.39. The Nifty 50 stood at 22,829.90, up 317.25 points or 1.41 per cent, having opened at 22,878.45 against its previous close of 22,512.65. The gap-up opening came a day after the Nifty fell 601 points and the Sensex dropped 1,836 points in the previous session.

The rally was triggered after US President Donald Trump signaled a five-day halt to planned strikes on Iran’s energy infrastructure, sparking hopes of diplomatic engagement. Brent crude fell sharply by around 10 per cent to $100 levels on the development. Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, noted: “…the market, it appears, is factoring in an end to the war as reflected in the August US oil futures trading at $80. However, in the near-term there will be excessive volatility in response to news regarding the war and events on the war front.”

However, the diplomatic picture remains unclear. Iran’s foreign ministry initially denied talks were underway, before later acknowledging attempts to “get diplomacy going” through third-party mediation. Hariprasad K, SEBI-registered Research Analyst and Founder of Livelong Wealth, cautioned: “…while markets are reacting to optimism, underlying geopolitical uncertainty has not fully dissipated.”

Asian markets reflected the improved sentiment, with the KOSPI surging nearly 4 per cent and Japan’s Nikkei advancing close to 3 per cent in early trade. US markets also closed in positive territory overnight.

On the Nifty 50, gainers outnumbered losers with only two stocks in the red. Shriram Finance led the pack, rising 4.09 per cent to ₹913.60 from a previous close of ₹877.70. Eicher Motors gained 3.25 per cent to ₹6,898.50 against its previous close of ₹6,681.50. IndiGo climbed 3 per cent to ₹4,063.50 from ₹3,945.30, while Eternal advanced 2.94 per cent to ₹233.63 from ₹226.96. Asian Paints added 2.76 per cent, trading at ₹2,179.80 against its previous close of ₹2,121.30.

On the losing side, Power Grid Corporation declined 1.47 per cent to ₹297.65 from its previous close of ₹302.10, while Coal India slipped 0.64 per cent to ₹452.35 from ₹455.25.

The sectoral composition of the gains reflects the broad-based nature of the rally — financial services, auto, aviation, quick commerce, and paints all participated. Ponmudi R, CEO of Enrich Money, said: “…the easing in oil has been triggered by a temporary de-escalation in geopolitical tensions…This signals ongoing diplomatic engagement and has reduced immediate fears of a full-scale escalation, bringing short-term relief to global markets.”

Oil marketing companies are also expected to remain in focus through the session, as the fall in crude improves their margin outlook. For India, which is heavily dependent on oil imports, a sustained decline in crude prices could ease inflation pressure and reduce the current account deficit.

The Indian rupee, which had earlier breached the 84 mark against the US dollar, showed signs of recovery and was trading near the 83 level in offshore trade. Dr. Vijayakumar pointed to currency stability as a precondition for sustained market recovery: “…if some sort of stability is to emerge in the market, rupee should stabilize first.” He added that IT and pharmaceutical stocks are “…likely to remain resilient assisted by rupee depreciation.”

India VIX, which spiked to 26.73 in the previous session — up 17.17 per cent — is expected to moderate if risk-on sentiment sustains through the day. With Nifty’s weekly expiry falling on Tuesday, traders face accelerated time decay as implied volatility unwinds. On the institutional front, FIIs sold equities worth approximately ₹10,414 crore in the previous session, while DIIs bought ₹12,034 crore, cushioning the fall. Any moderation in FII selling remains a key variable for sustained recovery.

Aakash Shah, Technical Research Analyst at Choice Broking, noted that the broader trend remains cautious despite the gap-up: “…the move appears largely sentiment-driven. Unless supported by sustained follow-through and further clarity on geopolitical developments, the broader trend remains vulnerable, with sell-on-rise likely to persist at higher levels.”

Published on March 24, 2026

Shares of HDFC Bank rose 2 per cent in early trade on Tuesday, climbing to ₹759.20 compared with the previous close of ₹744.15. The stock had touched its 52-week low of ₹741.05 in the preceding trading session, reflecting recent pressure on the counter.

At 9.39 am, the stock was trading 1.43 per cent higher at ₹754.80, recovering part of the losses seen over the past week. Despite today’s rebound, shares remain under pressure and have declined nearly 12 per cent since Chakraborty’s resignation.

The gains come as the bank’s board took a proactive step to address governance concerns by approving the appointment of external law firms, both domestic and international, to review the resignation letter submitted by former part-time chairman Atanu Chakraborty. The appointed firms have been directed to submit their findings within a reasonable timeframe, on Tuesday, the bank informed exchanges.

It had initiated an independent legal review of Chakraborty’s resignation letter to reinforce the institution’s robust governance standards. The former chairman stepped down last week citing differences with the lender over values ​​and ethics, a development that unsettled investors and weighed on the bank’s stock performance.

The lender clarified that Chakraborty did not refer to any specific incidents or practices that conflicted with his personal principles. It also stated previously that there were no material issues within the bank and suggested that the resignation may have resulted from differences between the chairman and the management.

Meanwhile, the RBI last week affirmed that HDFC Bank remains systemically important, financially sound and professionally managed, adding that no material governance concerns were on record.

The banking regulator has approved the appointment of Keki Mistry, a veteran of the HDFC Group, as the interim non-executive chairman for a period of three months.

Chakraborty, who was first appointed as part-time chairman in April 2021 and later reappointed in May 2024 for a term extending to May 2027.

Published on March 24, 2026