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Shares of IRB Infrastructure Developers on Monday fell nearly 51 per cent to a low of Rs 20.10 from the previous close of Rs 40.93, largely due to adjustment for its bonus issue and not an actual decline in value.

The company had in February approved a 1:1 bonus issue, under which shareholders will receive one equity share of face value Re 1 for every existing equity share of Re 1 held.

April 1 has been fixed as the record date for determining eligible shareholders.

The stock opened at Rs 20.56 on the NSE and later rose about 11.45 per cent to Rs 22.70 during the session. The company’s market capitalisation stood at around Rs 26,813.16 crore.

March 30 is the ex-date for the bonus issue.

An ex-date is one business day prior to the record date. Investors must buy shares before the ex-date to be eligible for a corporate action such as a bonus issue, dividend or stock split.

The record date is when the company finalises the list of shareholders eligible for the corporate action. Investors purchasing shares on or after the ex-date are not entitled to the benefit.

In this case, investors holding the shares in their demat accounts as of March 27 will be eligible for the bonus shares, while those buying on or after March 30 will not qualify.

This is the company’s first bonus issue. It had earlier undertaken a stock split in February 2023, subdividing one equity share of Rs 10 into 10 shares of Re 1 each.

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Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

IRB Infra shares gain after turning ex-bonus: Here's why you should ignore the 50% crash

Kotak sees value emerging after sharp market correction., Brokerage splits model portfolio into large- and mid-cap baskets, Select stocks may gain between 12% and 61% in value

* Kotak sees value emerging after sharp market correction.
* Brokerage splits model portfolio into large- and mid-cap baskets
* Select stocks may gain between 12% and 61% in value

Kotak Institutional Equities sees value emerging across more stocks after a market correction driven by the Iran-US conflict. It split its portfolio into large-cap and mid-cap baskets, reallocating stocks and adjusting sector weights, expecting near-term elevated oil prices.

shorts/business/kotak-restructures-portfolio-post-sell-off-adds-dlf-info-edge-coforge

Kotak Institutional Equities said value is emerging across a wider set of stocks following the sharp correction in prices across market capitalisations, sectors and individual stocks over the past three to four weeks amid the ongoing Iran-US conflict. The brokerage said the around 8 percent correction in the broader market, along with steeper declines in several stocks since the start of the Iran-Israel/US war, implies a prolonged crisis and a large cut to earnings in perpetuity, which it does not consider accurate.

The brokerage said it is using the recent correction and improved risk-reward balance to split its model portfolio into separate large-cap and mid-cap portfolios. It noted that earlier, limited value across the market had constrained recommendations to a small number of stocks, resulting in a portfolio skewed toward financials, healthcare services and pharmaceuticals over the past two years. Kotak said it uses a mcap threshold of $10 billion as the lower limit for large-cap stocks and the upper limit for mid-cap stocks instead of following the AMFI classification, adding that the Indian market still has 107 stocks with a mcap above $10 billion despite the recent correction.

As part of the portfolio changes, the brokerage has reallocated Aadhar Housing Finance, Dixon Technologies and Dr Lal PathLabs from its earlier model portfolio to the mid-cap portfolio. It has added Coforge, Embassy Office Parks REIT, Eureka Forbes, Five-Star Business Finance, Home First Finance Company, Jubilant FoodWorks and V-Mart Retail to the mid-cap basket, with potential upside ranging from 12 percent to 61 percent based on its 12-month fair value estimates.

In the large-cap portfolio, Kotak has included DLF, Godrej Consumer Products and Info Edge, replacing stocks moved to the mid-cap basket. The brokerage noted the sharp correction in DLF’s stock price and highlighted valuation support from its annuity leasing business and discounted land bank value. Info Edge offers about 30 percent potential upside to its 12-month fair value of Rs 1,300, while Godrej Consumer Products, which has declined 16 percent since late February 2026, offers about 23 percent upside to its fair value of Rs 1,280.

The brokerage has reduced its weight on Reliance Industries by 105 basis points and increased allocation to Mahindra &amp;amp; Mahindra by 100 basis points. Reliance Industries has remained relatively resilient during the correction, supported by higher refining margins due to supply disruptions, which Kotak expects to moderate as supply conditions normalise. Mahindra &amp;amp; Mahindra, which has declined 10 percent since late February 2026, offers about 28 percent potential upside to its 12-month fair value of Rs 4,000.

Kotak said its base case assumes the conflict will continue over the next few days or weeks, with elevated tensions for the next few months, reopening of the Strait of Hormuz over the next few weeks and no long-lasting damage to oil and gas infrastructure in the Middle East. Under this scenario, oil prices are expected to remain elevated in the near term before easing to a higher level compared with pre-war levels after normalisation.

The brokerage said there is a higher downside risk to earnings for several sectors in the case of a prolonged conflict lasting for several months, although the impact would vary depending on the ability of sectors and companies to take offsetting price increases. It added that it has not made major changes to earnings estimates for downstream companies, except for downstream PSU oil firms, given its base case of a short-term conflict, limited disruption to oil and gas supplies and modest price increases by companies to offset higher input costs.

Kotak restructures portfolio post sell-off; adds DLF, Info Edge, Coforge

Bank Nifty fell over 2 percent after RBI capped forex positions., All 14 Bank Nifty stocks traded in the red on Monday., Bank dollar sales boosted rupee in spot and forward markets.

* Bank Nifty fell over 2 percent after RBI capped forex positions.
* All 14 Bank Nifty stocks traded in the red on Monday.
* Bank dollar sales boosted rupee in spot and forward markets.

Bank Nifty fell over 2% after RBI capped banks’ net open rupee positions in forex at $100 million, triggering dollar selling and rupee strengthening. All index constituents declined, with AU Small Finance Bank dropping 2.5%. Banks seek more time to comply.

shorts/business/bank-nifty-crashes-2-as-rbi-seeks-to-curb-forex-speculation-au-small-finance-bank-federal-bank-lead-losses

Bank Nifty declined more than 2 percent in Monday’s trade after the Reserve Bank of India (RBI) directed banks to cap their net open rupee positions in the foreign exchange market at $100 million by the end of each business day. The directive, issued late Friday, requires compliance by April 10.

All 14 constituents of the Bank Nifty index were trading in the red. The index had gained more than 4 percent over the previous two sessions but reversed course on Monday, falling over 2 percent.

AU Small Finance Bank was the top laggard, declining 2.5 percent to Rs 860.2 per share on the National Stock Exchange (NSE).

Federal Bank and Punjab National Bank fell 1.91 percent and 1.96 percent, respectively.

Heavyweight financials, banks, private banks and PSU lenders fell 2-2.5 percent.

The decline followed the RBI’s move to tighten limits on banks’ foreign exchange positions, which triggered selling of dollars in the onshore market as traders rushed to cut arbitrage positions.

Market participants said the move is expected to lead to unwinding of such positions, where banks profit from price differences between offshore non-deliverable forwards and onshore forward markets.

The unwinding is likely to push banks to sell dollars in the domestic market. Early signs of this were visible as the rupee strengthened in both spot and forward markets.

The one-month USD/INR forward was last quoted at 94.13, down from around 95.15 on Friday.

The curbs come at a time when the rupee has weakened more than 4 percent in March amid global volatility linked to the war in the West Asia.

Bankers have sought more time from the RBI, requesting a three-month window to comply, citing concerns that a rapid unwinding of positions could result in losses.

&quot;Some participants are still expecting relaxation from the RBI. If those positions are also reduced, the USD/INR could fall further,&quot; a trader at a state-run bank said.

Banks often take positions in dollars to make profits from price differences across markets. The RBI has now put a strict limit on how big these positions can be. Because of this, banks must reduce or close many of their existing trades quickly.

To do that, they are selling dollars, which is strengthening the rupee. This sudden adjustment can cause losses for banks, especially if they exit trades at unfavourable prices. It also reduces speculation and risk-taking in the forex market going forward.

The RBI has also been intervening in the foreign exchange market to contain volatility in the rupee.

(With inputs from Reuters)

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Bank Nifty crashes 2.5% as RBI seeks to curb forex speculation; AU SFB, Kotak Mahindra Bank lead losses

Dilip Buildcon share price rose in the opening trade on March 30 following the company received letter of acceptance (LOA) from Narmada Water Resources Water Supply &amp;amp; Kalpasar Department, Government of Gujarat.

At 09:18am, Dilip Buildcon was quoting at Rs 388.95, up Rs 1.55, or 0.40 percent, on the BSE.

The project consists construction of the flood protection embankment on river Narmada, District Bharuch on EPC (Engineering, Procurement and Construction) basis

The cost of the project is Rs 698.49 crore and to be completed in 24 months.

Catch all the market action on our live blog

Earlier this month, the company was declared the lowest bidder by the Odisha Bridge &amp;amp; Construction Corporation (OBCCL) for construction of road project in the district of Sundargarh on EPC mode, worth Rs 160.20 crore.

Additionally, the company received letter of Intent (LOI) worth Rs 1,850 crore from REC Power Development and Consultancy (RECPDCL) for establishing 400 kV Sub-station at Mekhali along with associated transmission lines (Belagavi District), Karnataka. The concession period for the project shall be 35 years from the Commercial Operation Date (COD).

In the previous trading session, the share closed at Rs 387.40, down Rs 18.10, or 4.46 percent.

The share touched a 52-week high of Rs 587.90 and a 52-week low of Rs 381.05 on 24 September, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 34.1 percent below its 52-week high and 1.67 percent above its 52-week low.

The market capitalisation of the company stands at Rs 6,293.11 crore.

Dilip Buildcon shares rise on LoA worth Rs 698.5 crore from Gujarat govt

Thermax share price gained in the opening trade on March 30 following the company arm won an order worth RS 1,600 crore for 800 MW ultra-supercritical thermal power plant.

At 09:18am, Thermax was quoting at Rs 3,211.50, up Rs 19.15, or 0.60 percent, on the BSE.

The company’s wholly owned arm, Thermax Babcock &amp;amp; Wilcox Energy Solutions Limited (TBWES), has won a boiler package supply contract from a leading thermal power project company in Central India. The order is for a 1x800 MW ultra-supercritical thermal power plant.

The scope of work includes manufacturing, supply, supervision of installation and commissioning, as well as performance testing of the boiler package.

The execution will be aligned with project milestones and delivery schedules as defined in the contract, company said.

TBWES provides equipment and solutions for generating steam for process and power through the combustion of various solid, liquid and gaseous fuels, as well as through heat recovery from turbine/engine exhaust and (waste) heat recovery from industrial processes.

TBWES also offers heaters for various applications in the chemical, petrochemical and refinery segments. Its services arm offers renovation and modernisation solutions for old boilers and heater as well as digital solutions for all make.

Catch all the market action on our live blog

In the previous trading session, the share closed at Rs 3,192.35, down Rs 52.25, or 1.61 percent.

The share touched a 52-week high of Rs 4,088.00 and a 52-week low of Rs 2,744.20 on 17 July, 2025 and 08 December, 2025, respectively.

Currently, the stock is trading 21.91 percent below its 52-week high and 16.33 percent above its 52-week low.

The market capitalisation of the company stands at Rs 38,038.86 crore.

The share price declined 15 percent in the last one-year.

Auto Ancillaries - Clutches Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Auto Ancillaries - Clutches industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q3 FY25-26

Stock News

IRB Infra shares gain after turning ex-bonus: Here's why you should ignore the 50% crash

Kotak restructures portfolio post sell-off; adds DLF, Info Edge, Coforge

Bank Nifty crashes 2.5% as RBI seeks to curb forex speculation; AU SFB, Kotak Mahindra Bank lead losses

Dilip Buildcon shares rise on LoA worth Rs 698.5 crore from Gujarat govt

Thermax share price gains after arm wins order worth Rs 1,600 crore

Auto Ancillaries - Clutches Industry StocksCheck latest stock performance, list of stocks, earnings review & more details about the Auto Ancillaries - Clutches industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q3 FY25-26

Stock News

IRB Infra shares gain after turning ex-bonus: Here's why you should ignore the 50% crash

Kotak restructures portfolio post sell-off; adds DLF, Info Edge, Coforge

Bank Nifty crashes 2.5% as RBI seeks to curb forex speculation; AU SFB, Kotak Mahindra Bank lead losses

Dilip Buildcon shares rise on LoA worth Rs 698.5 crore from Gujarat govt

Thermax share price gains after arm wins order worth Rs 1,600 crore

Auto Ancillaries - Clutches Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Auto Ancillaries - Clutches industry stocks.