Stocks in Focus on 23 March 2026: Vedanta, Zomato, Tata Capital

Indian equities look set for a soft start on 23 March, tracking a sharp global sell-off. Early signals are already weak. GIFT Nifty was down 312 points at 22,820 around 7:30 AM. In the US, the Nasdaq fell by over 2%, while Asian markets dropped up to 4.7% as tensions in West Asia escalated.

This shift in global mood comes just as domestic markets were trying to stabilise. Now, traders are likely to stay cautious, at least in early trade.

What’s Behind The Sudden Risk-Off Mood?

New tensions have flared up in the Strait of Hormuz region. This past weekend, both the US and Iran issued stern warnings as the war entered its fourth week.

The markets have been seeing some buying interest over the past session, mainly due to lower crude oil prices. This may not sustain if global risks escalate. Metal, banking, and export-based companies could be the first to be impacted.

HDFC Bank, Tata Steel And Others In Focus

HDFC Bank: The lender is in focus as it deals with leadership changes. The chairman’s exit, along with action taken against three executives over internal issues, has kept the stock under watch. The RBI has said there are no major concerns, but sentiment may stay cautious for now.

Tata Steel: The company has started operations at its ₹3,200 crore electric arc furnace in Punjab. This marks a step toward cleaner steel production and could influence its cost and sustainability profile going ahead.

MM Forgings: The company has scheduled a board meeting on 25 March to consider raising funds. Such plans often lead to short-term interest in the stock.

P N Gadgil Jewellers: The retailer has added two stores, taking its total count to 75. Store expansion remains a key growth lever for the company.

Deal Flow, Legal Moves Keep More Stocks Active

Vedanta: The company has taken the legal route to challenge the NCLT order tied to the Jaiprakash Associates acquisition. The outcome may take time, but such developments usually keep traders interested in the near term.

Devyani International: It is putting ₹347 crore into a Thailand-based operator that runs KFC outlets. This isn’t just a routine investment; it signals a deeper push into overseas markets where growth visibility could be stronger.

Thomas Cook: The company plans to demerge its resort segment into a separate entity known as Sterling Holiday Resorts. This could be positive if approved, as it will simplify the structure of the company, making it easier to value.

Anil Ambani Group Stocks: These shares may continue to be volatile given fresh developments regarding the bank fraud probe of ₹2,929 crores against Reliance Communications.

Tata Capital: The company is currently facing a tax demand of ₹413 crores from an assessment done in the past.

Ola Electric: The company plans to divert funds to clear debt rather than pursue any new initiatives, causing concern regarding the company’s growth prospects.

Zomato: The platform fee has been nudged higher. It’s a small tweak, but even minor pricing changes in consumer-facing businesses are closely tracked for their impact on demand.

Also Read - Pre-Market 23 March 2026: What To Expect On Monday As Nifty Signals A Weak Start

For now, markets appear sensitive to global developments. While stock-specific triggers will play out through the day, the broader direction may still depend on how the global situation evolves.

Sources

Business Standard

Moneycontrol

Times Now