Stock Market Today: CarTrade Tech Hits ₹1,846 Intraday High

Indian equity markets surged on Monday, March 24, 2025, led by strong gains in heavyweights and optimism surrounding domestic reforms and corporate updates. The BSE Sensex and the NSE Nifty50 extended their upward momentum amid mixed global cues and positive domestic sentiment.

At 12 PM, the BSE Sensex climbed 911.14 points or 1.18% to 77,816.65, while the Nifty50 advanced 267.20 points or 1.14% to 23,617.60. Investors increased positions in banking, capital goods, auto, and infrastructure stocks, lifting the overall market sentiment.

NSE Shifts to Electronic Settlement of Unlisted Shares

The National Stock Exchange of India initiated electronic settlement for trades involving its unlisted shares, beginning today. This regulatory shift replaces the previous manual mode of transfer and brings better transparency and compliance. Central Depository Services India Ltd (CDSL) now facilitates these off-market transactions.

Although NSE’s shares remain unlisted and unavailable for public trading, the exchange ensures that such off-market settlements follow SEBI’s Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 (SECC Regulations). This move marks a step toward more transparent governance of unlisted securities within India's evolving capital market framework.

CarTrade Tech Hits New High After Massive Rebound

CarTrade Tech continued its stellar run in the equity market. Shares surged 6% on Friday, hitting a new all-time high of ₹1,885, surpassing the earlier peak of ₹1,834.95 achieved on February 1, 2025. On Monday morning, the stock rose further, touching ₹1,846 before trading 0.53% higher at ₹1,816.70 around 10:08 AM.

CarTrade Tech gained 25% in March alone and rallied 453% from its March 2023 lows of ₹341.05. The stock had earlier dropped nearly 79% from its issue price of ₹1,618, but strong business fundamentals and increasing demand in the auto-tech sector fueled the recovery. The company, listed on August 20, 2021, now commands robust investor interest amid India’s digital transformation in vehicle commerce and auctions.

March PMI Flash Data Shows Mixed Signals

India’s economic indicators offered mixed cues. According to HSBC’s flash PMI data for March, manufacturing activity rose to 57.6 from February’s 56.3, indicating faster expansion in factory output and orders. However, services activity showed a slight slowdown, with the Services PMI falling to 57.7 from 59.0.

The Composite PMI, which blends both sectors, stood at 58.6 in March, down slightly from February’s 58.8. Despite the dip, the index has remained above the 50-mark that separates growth from contraction for 44 consecutive months. The data suggests that India's private sector output remains strong, with manufacturing taking the lead while services show moderated momentum.

Transrail Lighting Rallies Despite Anchor Lock-In Expiry

Transrail Lighting's shares jumped 5.82% to ₹538.8 during early trade before trimming gains to trade 2.98% higher at ₹528.3 around 10:17 AM. The rise came despite the expiry of the anchor lock-in period—a phase when early institutional investors typically gain the option to exit their positions.

The stock extended its winning streak to a fifth consecutive session. Although it declined 2.3% year-to-date, Monday’s rally outpaced the broader Nifty 50, which rose 0.83% during the same session. With a market capitalization of ₹7,086.03 crore, Transrail continues to attract attention, especially in the infrastructure and power transmission segment.

Valiant Communications Secures GETCO Project with Tata JV

Valiant Communications reported a key project win through its joint venture with Tata Group’s Tejas Networks. The Gujarat Energy Transmission Corporation (GETCO) issued a Letter of Intent (LoI) for Project #2 to the JV. Valiant, as the lead bidder, will supply and commission communication, protection, and synchronization equipment under the project.

The company estimated its portion of the contract at ₹39 crore. This deal strengthens Valiant’s position in the telecom and power utility segment and signals robust demand from the public infrastructure space, especially in Gujarat’s energy transmission ecosystem.

Larsen & Toubro Advances on Fundraising Plan

Shares of Larsen & Toubro climbed 2.96% to an intraday high of ₹3,517 after the company board approved a ₹12,000 crore fundraising initiative through debt instruments. By 9:45 AM, the stock traded at ₹3,490.45, up 2.18% from the previous close.

Despite a year-to-date decline of 3.49%, L&T shares recorded a 10% gain over the past five trading sessions. Investors responded positively to the fundraising plan, interpreting it as a move to fuel upcoming infrastructure projects. With a market capitalization of ₹4.78 trillion, L&T remains one of India’s largest engineering and construction firms.

Sectoral Highlights

Banking and Financials: Leading banks witnessed robust demand. Strong credit growth data and reduced concerns over asset quality supported the sector. PSU banks outperformed private peers as fresh inflows and expectations of better FY25 guidance lifted sentiment.

Auto: Auto stocks rallied, with investors expecting strong quarterly results and festive season momentum to boost vehicle sales. Two-wheelers, passenger vehicles, and commercial vehicle segments led gains.

Capital Goods and Infrastructure: Positive updates from L&T, project wins from Valiant, and Transrail’s momentum lifted capital goods. Investors increased allocations toward companies tied to infrastructure development and government capex.

IT and FMCG: These sectors traded mixed, with global cues and margin concerns weighing on heavyweight IT stocks. FMCG firms remained range-bound due to subdued rural demand and fluctuating input costs.

Global Cues and Market Sentiment

Global equity markets remained mixed amid uncertainty around U.S.–China trade tariffs and rate trajectory signals from the U.S. Federal Reserve. Asian peers traded sideways, while European futures hinted at a positive opening.

Crude oil prices held steady around $85 per barrel, supporting India’s macroeconomic stability. The U.S. Dollar Index stayed under 104, providing tailwinds for emerging markets, including India. Bond yields remained stable, and foreign institutional investors showed signs of returning to Indian equities after a cautious February.

Midday Market Snapshot (12 PM)

BSE Sensex: 77,816.65 ▲ 911.14 pts (+1.18%)

Nifty50: 23,617.60 ▲ 267.20 pts (+1.14%)

CarTrade Tech: ₹1,816.70 ▲ 0.53%

Larsen & Toubro: ₹3,490.45 ▲ 2.18%

Transrail Lighting: ₹528.3 ▲ 2.98%

Valiant Communications: Positive reaction to GETCO project news

The Indian stock market kicked off the week on a strong note. Broad-based buying, corporate developments, PMI stability, and strategic fundraisers buoyed sentiment. Despite global uncertainty, domestic fundamentals remain strong, keeping benchmarks on a bullish trajectory. Key events to watch include FII flows, global macroeconomic indicators, and corporate guidance ahead of Q4 earnings.