Stocks to watch, March 9: ONGC, Oil India, Indian Oil Corp, Asian Paints, Cipla, Lupin, AC stocks, RailTel, Max Estates, Jyoti Ltd, Tata Power

Warren (New Jersey)-based Cipla USA, Inc. is recalling Nilotinib Capsules in two strengths (150 mg and 200 mg), the US health regulator said in its latest Enforcement Report.

The company is recalling the affected lot (271 and 164 cartons) due to "failed tablet/capsule specifications", it stated.

Cipla USA, Inc. initiated the Class III voluntary recall on February 18 this year.

According to the USFDA, a Class III recall is initiated in a "situation in which use of, or exposure to, a violative product is not likely to cause adverse health consequences".

The hikes, being rolled out between February and April, come just ahead of the peak summer season when demand typically surges.

Leading players, including Daikin, Voltas, Blue Star, LG, Haier, and Mitsubishi Heavy Industries, have announced increases across models, passing on higher input costs for key raw materials such as copper, a weaker rupee, new energy-efficiency norms, and an increase in freight costs.

Industry executives said while adjustments are unavoidable, they expect strong sales momentum this year, aided by forecasts of a hotter summer and improved energy savings from new star-rated models.

Blue Star Managing Director B Thiagarajan said the company has already taken a price increase of 8-10% in the middle of February. However, old-priced inventory is still in the market; hence, there is not much difference in the market.

"Dealers lifted stocks earlier as a price increase was going to happen. They bought in early, so they will be selling the old stock," he said, adding that a new batch, priced higher, will take some time to reach the market.

However, the in-home portfolio saw a muted response and is planned to be relaunched with an improved offering for the 2026 season.

Gross margin for the quarter stood at 41.5%, impacted by one-off trade investments of nearly 600 bps related to higher MRP stock liquidation, as well as around 400 bps due to commodity inflation led by cocoa prices.

Earnings before interest, taxes and depreciation (EBITDA) before exceptional items were at -₹64 crore, reflecting the impact of lower gross margins and continued growth-led investment made across the value chain.

Exceptional items (expenses) of ₹94 crore during the quarter primarily relate to non-recurring costs recognised in the current period.

"Focus will again be on the developments in the Middle East, and further escalation would be positive for gold prices, but a sign of de-escalation may trigger sharp selling," Pranav Mer, vice president, EBG – Commodity & Currency Research, JM Financial Services Ltd, said.

Mer added that silver is also undergoing a consolidation phase but remains highly volatile.

"Silver too is passing through a consolidation phase but trading with high volatility as gains are capped by consolidative moves in gold and industrial metals like copper and zinc," he said.

"We will address the observations and respond to the U.S. FDA within the stipulated timeframe. We are committed to being compliant with CGMP standards across all our facilities," the company said.

"This brings renewed optimism for customers after the insolvency of the erstwhile developer. With construction to commence shortly at Max One, the focus firmly shifts to the future, signalling momentum and progress," the company said in its press release.

"Located right at the edge of South Delhi, Max One is taking shape as a walkable, green campus that brings together residences, workspaces, and cultural and entertainment spaces in one place. It offers a more intuitive way of living in Delhi NCR, bringing new experiences closer and reducing the need to constantly be on the move," it added.

"The collaboration reinforces Tata Power’s long-term clean energy roadmap aligned with India’s net-zero ambitions by establishing a secure, intelligent, and fully integrated clean energy ecosystem powered by AI, automation, and data-driven insights," the company said.

The platform will enable scalable growth, deeper partner and customer engagement, and operational excellence across the renewable energy value chain.