Stock market this week: Who’s on top? Top gainers skyrocket as losers take a dive

Top News

1. SEBI's revised ESG disclosure provisions under LODR regulations

The Securities and Exchange Board of India (SEBI) has introduced significant revisions to the ESG (Environmental, Social, and Governance) disclosure provisions under the Listing Obligations and Disclosure Requirements (LODR) Regulations, effective from March 28, 2025. These changes aim to strengthen transparency, accountability, and sustainability practices among listed entities. A key highlight is the mandatory assessment or assurance for the Business Responsibility and Sustainability Report (BRSR) Core, which will be phased in for the top listed entities. This phased approach ensures a smooth transition for companies, allowing them time to align their reporting practices.

Furthermore, the updated guidelines introduce disclosures on green credit, emphasizing the importance of sustainable business practices. ESG disclosures for value chain partners have been deferred, providing relief to entities and their partners to adapt gradually. SEBI mandates listed entities to engage independent assessment providers to ensure the credibility and reliability of sustainability disclosures. Stock exchanges are also directed to notify listed companies and ensure compliance with these revised norms. This initiative by SEBI aligns with global trends, reinforcing India’s commitment to sustainable and responsible business practices.

2. India’s forex reserves see a notable increase

India’s forex reserves surged by $4.5 billion, reaching $658.8 billion in the week ending March 28, 2025, as per the latest data released by the Reserve Bank of India (RBI). This significant rise marks a continuation of the upward trend observed in recent weeks. In the preceding week ending March 14, 2025, forex reserves had increased by $0.305 billion, totaling $654.27 billion.

The consistent growth in reserves is attributed to the accumulation of foreign currency assets and other components, highlighting a strong external position for the Indian economy. Higher forex reserves provide the RBI with greater flexibility to manage exchange rate fluctuations, meet import demands, and maintain investor confidence. This trend also underscores India’s robust external sector performance amidst global uncertainties.

3. ICICI Prudential Nifty EV & New Age Automotive ETF FoF Growth Direct Plan NFO

ICICI Asset Management Company (AMC) has launched a New Fund Offer (NFO) for the ICICI Prudential Nifty EV & New Age Automotive ETF FoF Growth Direct Plan, offering investors an opportunity to tap into the evolving electric vehicle (EV) and new-age automotive sectors. The fund seeks to provide long-term capital appreciation by investing in units of ICICI Prudential Nifty EV & New Age Automotive ETF, which focuses on companies involved in EV manufacturing, battery technologies, and related ecosystem developments.

The NFO is open for subscription and will close on April 9, 2025, providing a limited window for investors to gain exposure to this thematic investment opportunity. With the growing adoption of EVs and advancements in the automotive sector, this fund aligns well with India’s vision for a sustainable future. The NFO caters to investors seeking long-term growth prospects and diversification in emerging sectors.

Kuvera is a free direct mutual fund investing platform. Unless otherwise stated data sourced from BSE, NSE and kuvera.