Indian stock markets saw significant activity across major companies including Reliance Industries, Tata Motors, Ola Electric, Dilip Buildcon, and Sun Pharmaceutical Industries. These firms made headlines with new business deals, strategic financial moves, and important regulatory updates this past week.
Reliance Secures Green Energy Deal, Jio Platforms IPO Advances
Reliance Industries Limited (RIL) saw its shares open positively after signing a binding long-term Supply and Purchase Agreement (SPA) with Samsung C&T Corporation. This agreement, valued at over $3 billion, involves RIL supplying green ammonia for 15 years starting in the second half of fiscal year 2029. The deal is one of the largest global green ammonia offtake contracts and aims to position India as a key exporter of green fuels. Shares of RIL rose by 0.35% to ₹1,400 on the BSE in early trade following this announcement.[fortuneindia+2]
Earlier in March, RIL's stock climbed 2% after reports indicated the United States formally permitted India to continue purchasing Russian oil, easing geopolitical concerns for the company's crucial oil-to-chemicals (O2C) business. This development provides long-term clarity for RIL, which relies on diverse crude sources to maintain refining margins.[plindia]
Meanwhile, RIL is actively preparing for the initial public offering (IPO) of its telecom unit, Jio Platforms Ltd. The company is collaborating with six banks on the planned share sale, with more advisors expected to join soon. Bankers have previously estimated Jio Platforms' valuation at up to $170 billion, suggesting the company could raise approximately $4.3 billion with minimum equity dilution.[communicationstoday]
Jio Financial Services (JFS), a demerged entity of Reliance Industries, also garnered attention. Brokerage firm Motilal Oswal Financial Services initiated 'Buy' coverage on JFS, setting a target price of ₹320 and projecting a potential upside of 34% to 36%. JFS aims to become India's next-generation financial services platform, leveraging Jio's subscriber base of over 500 million and the extensive retail footprint of the Reliance Group. Despite an 8.8% decline in consolidated net profit to ₹268.98 crore in Q3 FY26, JFS reported a 105.5% surge in total revenue from operations, reaching ₹900.90 crore during the same quarter. The company also recently received regulatory approval from the IRDAI for Allianz Jio Reinsurance Limited, a joint venture to operate in the Indian reinsurance market.[businesstoday+4]
Tata Motors Adjusts Prices, Boosts EV Incentives
Tata Motors announced a price increase of up to 1.5% across its commercial vehicle (CV) portfolio, effective April 1, 2026. The company stated this move is intended to partially offset the impact of rising commodity prices and other input costs. Sharesof Tata Motors' commercial vehicle segment advanced 2.1% to ₹446.85 on the NSE following the announcement on March 17.[m+4]
The automaker also rolled out significant discounts on its electric vehicle (EV) offerings for March 2026, with benefits reaching up to ₹3.8 lakh on select models. These incentives aim to boost sales before the financial year-end amidst intensifying competition in India's EV market. Tata Motors remains a leader in India's electric passenger vehicle market, selling 70,946 EVs in FY26, an increase from 57,968 units in FY25. In February 2026, the company sold 5,568 units, marking a 38.51% year-on-year growth.[upstox+5]
Followingits demerger, shares of Tata Motors' commercial vehicle business were listed at ₹335 apiece on the NSE on November 12 last year, gaining approximately 30% since then. In contrast,shares of the passenger vehicle segment, which listed at ₹400 apiece on October 14, have fallen more than 21% since their listing. For Q3 FY26, the commercial vehicle arm reported a consolidated net loss of ₹3,486 crore, a reversal from a net profit of ₹5,406 crore in Q3 FY25, with revenue from operations declining 25.81% year-on-year to ₹69,605 crore. MarketsMOJO rated Tata Motors Passenger Vehicles Ltd. as a 'Sell' as of March 17, 2026, citing negative financial trends.[m+3]
Ola Electric Pursues Fresh Funding Amid Market Activity
Ola Electric Mobility Ltd. is actively seeking to raise capital, with its board approving a ₹1,500 crore fundraise through the issuance of shares or other securities. The company is also exploring a potential ₹2,000 crore stake sale in its battery manufacturing arm, Ola Cell Technologies Private Ltd.[livemint]
The company's stock experienced high trading volumes on March 17, 2026, with over 1.03 crore shares changing hands. Despite this activity, the stock declined 2.01% to ₹23.77, underperforming its sector and broader market indices. MarketsMOJO currently assigns Ola Electric Mobility Ltd. a 'Strong Sell' rating. Ola Electric, classified as a small-cap company, has a market capitalization of ₹10,727 crores.[livemint+4]
In a bid to attract customers, Ola Electric recently offered limited-period benefits exceeding ₹20,000 for purchasers of new Ola S1 scooters or Roadster motorcycles. These offers, available until March 16, 2026, included a ₹10,000 cash discount and an extended 8-year battery warranty valued at up to ₹15,000.[marketsmojo+1]
Dilip Buildcon Secures Major Infrastructure Projects
Dilip Buildcon Limited announced securing two significant infrastructure projects. The company received a Letter of Intent (LOI) for a ₹1,850 crore 400 kV power transmission project in Karnataka. Awarded by REC Power Development andConsultancy Limited, the project involves establishing a 400 kV substation at Mekhali and associated transmission lines in the Belagavi district. Dilip Buildcon will execute the project under a Build, Own, Operate, and Transfer (BOOT) model, with construction and commissioning expected within 24 months.[solarquarter+5]
Additionally, Dilip Buildcon was declared the lowest (L-1) bidder for a road construction project in Odisha, valued at ₹160.20 crore (excluding GST). This Engineering, Procurement, and Construction (EPC) contract involves building a diversion road and a six-lane corridor with a service road in the Sundargarh district, with an 18-month completion timeline. Earlier, in February 2026, the companyalso secured a ₹668.02 crore EPC contract for a flood protection embankment project on the Narmada river in Gujarat.[scanx+3]
For the third quarter of fiscal year 2026 (Q3 FY26), Dilip Buildcon reported a substantial 399.37% year-on-year surge in Profit After Tax (PAT) to ₹789 crore. This significant increase was primarily driven by ₹289 crore in exceptional items, largely due to InvIT gains. Despite this, the company's revenue declined17.45% year-on-year to ₹2,138 crore. As of December 31, 2025, Dilip Buildcon's consolidated order book reached a record high of ₹29,372 crore, providing strong future revenue visibility.[scanx+3]
Sun Pharma's ILUMYA Advances, Reports Strong Q3 Earnings
Sun Pharmaceutical Industries Limited announced that the US Food and Drug Administration (FDA) accepted for review its supplemental Biologics License Application (sBLA) for ILUMYA (tildrakizumab-asmn). This application seeks approval to treat adults with active psoriatic arthritis, with the FDA's regulatory action date anticipated by October 29, 2026. Rick Ascroft, CEO of Sun Pharma North America, expressed optimism, stating the company looks forward to working with the FDA to strengthen its innovative portfolio.[indiamedtoday+6]
The pharmaceutical major also reported strong financial results for Q3 FY26, with its consolidated net profit jumping 16% year-on-year to ₹3,369 crore. Revenue from operations rose 13% to ₹15,520 crore during the same period. Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) surged 23.4% to ₹4,948.4 crore, and EBITDA margins expanded to 31.9%.[indiamedtoday+3]
Sun Pharma's India formulations sales grew 16.2% to ₹49,986 million, accounting for 32.3% of its total consolidated sales. The company's Global Innovative Medicines segment recorded sales of $423 million for Q3 FY26, including a $55 million milestone payment. Excluding this milestone, innovative medicines sales increased by 13.2%. The board also declared an interim dividend of ₹11 per share for the financial year 2025-26.[m+4]
