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We need to be very selective when it comes to software companies and focus only on the companies which have demonstrated that they can grow at the mid-teens and not at that typical 8-10% type of growth rate because companies growing at 8-10% top line will never give superior returns over the longer period.

The Nifty Auto index was trading 0.61 per cent up at 21364.75.

GR Infraprojects shares jumped over 12% to Rs 1,054 after securing a Rs 4,262.78 crore highway project from NHAI. The project includes the construction of the Agra-Gwalior Greenfield Road, spanning Uttar Pradesh, Rajasthan, and Madhya Pradesh. Scheduled for completion in 910 days, the project will follow the DBFOT (Toll) model under the NH(O) scheme.

Steel Authority of India (SAIL) and NMDC Steel shares saw up to an 8.3% surge on the BSE after the Directorate General of Trade Remedies (DGTR) recommended a 12% safeguard duty on specific steel imports. This temporary measure aims to support domestic producers against unfair trade practices.

The US Federal Reserve is expected to maintain the federal fund rate at 4.25%-4.5% amid inflation concerns. The Fed will release its Summary of Economic Projections, providing insights into expectations for GDP growth, unemployment, and inflation. Key sectors, including IT, gold, and crude oil, may be impacted by these announcements, with eyes particularly on hawkish signals suggesting higher rates.

Ed Yardeni from Yardeni Research analyzes the weakening US stock market, with the Magnificent Seven declining by 15% since the start of the year. Other markets like Germany, China, and India are showing resilience. He suggests that global money movements and tariff impacts could influence the Fed s potential rate cuts amidst uncertain inflation prospects.

Shares of MobiKwik s parent company, One Mobikwik Systems, surged by 19% on March 19 after a 20% rally the previous day, recovering from a 52-week low earlier in the week. Despite the rebound, the stock remains significantly below its all-time high and faces persistent selling pressure.

Tata Steel shares surged 3% to Rs 159.25 amid a sector-wide rally after the DGTR proposed a 12% safeguard duty on certain steel imports. Emkay Global sees the stock at an "inflection point," citing volume growth, a potential European turnaround, and attractive valuations. The brokerage retained a ‘Buy’ rating, expecting a 7-8% CAGR in steel demand.

IndiGo shares surged 2.33% after the airline unveiled an ambitious FY30 growth roadmap. It plans to carry 118 million passengers in FY25, expand its fleet, and add 14 new destinations in FY26. The introduction of Airbus A321 XLR and aggressive international expansion strengthen its market position. IndiGo’s stock has gained nearly 52% over the past year.