Stock Market News Today Live Updates: Nifty Above 24,000, Sensex Gains Over 400 Points; Sun Pharma Gains On $12 Billion Acquisition Plans

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• All 15 sectoral indices on the NSE traded higher. Nifty Realty led the gains with a rise of 2.13%, followed by Nifty Pharma at 2.02%.
• Nifty Metal gained 1.47% and Nifty IT rose 1.37%. Auto, PSU Bank, India Defence and Energy also advanced more than 1%.
• Financial Services rose 0.10%, the smallest gain among the sectoral indices, while Media, Bank, Oil and Gas, FMCG and Rural also traded in positive territory.

Indian equity benchmarks moved higher in early trade. The Sensex rose as much as 497 points, or 0.64%, to 77,155, while the Nifty gained up to 0.6% to 24,049.

The rupee moved between gains and losses in early trade against the US dollar. The local currency was little changed at 94.12 after a volatile opening.

Indian equity benchmarks traded mixed in pre-open deals. The Nifty rose to trade near 24,000, while the Sensex was up more than 50 points.

• Quality Power Electrical secured an international order worth Rs 48.3 crore.
• The contract is for supply of high-voltage reactors.
• Order inflows remain in focus for the company.

• HPCL said restoration work at its Rajasthan refinery is underway.
• The company expects completion in the next three to four weeks.
• Investors may track impact on operations and supply.

• Jayaswal Neco will invest Rs 41 crore in a Waaree Group entity engaged in solar power.
• The company also approved a 1.5 MTPA straight-grate pellet plant with capex of Rs 720 crore.
• The project will be funded through debt and internal accruals.

• HPCL said restoration work at its Rajasthan refinery is underway.
• The company expects completion in the next three to four weeks.
• Investors may track impact on operations and supply.

• Anant Raj said Enforcement Directorate officials visited its offices.
• The officials sought information related to disposal or sale of investments in an associate company and other business matters.
• The company disclosed the development in an exchange filing.

• Axis Finance will issue 4.34 crore shares to Kedaara Capital at Rs 172.8 each.
• The fund raise values the NBFC arm at Rs 14,014 crore.
• Axis Bank will continue to hold a 94.92% stake after the transaction.

• Quality Power Electrical secured an international order worth Rs 48.3 crore.
• The contract is for supply of high-voltage reactors.
• Order inflows remain in focus for the company.

The government extended the tenure of Indian Bank Executive Director Ashutosh Choudhury by three years.

• Hi-Tech Gears said CFO Vinod Raheja has resigned.
• The company said he stepped down due to personal reasons.

• Ceat said a Rs 277 crore tax demand has been set aside by the competent authority.
• The company said the order will have no financial impact.
• The update may remove an overhang on the stock.

• Sastasundar Ventures received approvals from BSE and NSE for its name change.
• The company will be renamed Health X Platform Ltd.
• Markets may track branding and business strategy updates.

• Net profit rose 22.8% YoY to Rs 801 crore in Q4.
• Net interest income fell 3% YoY to Rs 2,614 crore, while operating profit declined 7.4%.
• Gross NPA improved to 2.17% and net NPA eased to 0.27%.

• Paytm said its board approved winding up of Paytm Payments Bank.
• The move is in line with directions issued by the Reserve Bank of India.
• Markets may track timelines, regulatory steps and impact on operations.

• Samir Dhir will cease to be Managing Director and CEO from May 8.
• Rajsekhar Datta Roy will take over as CEO.
• Investors may watch transition strategy and management commentary.

• Reliance Industries net profit fell 9% sequentially to Rs 16,971 crore.
• Ebitda margin narrowed to 15% from 17.4%.
• The board declared a dividend of Rs 6 per share.

• RBL Bank net profit rose 234% to Rs 230 crore in Q4.
• Gross NPA improved to 1.5% from 1.9% a year ago.
• Net interest margin softened to 4.41%.

• IndusInd Bank posted net profit of Rs 533 crore against a loss a year ago.
• Provisions declined to Rs 1,484 crore from Rs 2,417 crore.
• Gross NPA improved to 3.43% from 3.56%.

• IDFC First Bank net profit rose 5% to Rs 319 crore in Q4.
• Provisions fell 38% sequentially to Rs 869 crore.
• Asset quality improved with gross NPA at 1.61%.

• Axis Bank net profit fell 0.6% to Rs 7,071 crore in the March quarter.
• Gross NPA improved to 1.2% from 1.4%, while net NPA stayed at 0.4%.
• Higher provisions and lower operating profit weighed on earnings.

• Companies scheduled to report earnings today include UltraTech Cement, Varun Beverages, Coal India, SBI Cards, AU Small Finance Bank, Bajaj Housing Finance, Nippon Life India Asset Management and Phoenix Mills.
• Other companies due to post results include Adani Total Gas, City Union Bank, Punjab & Sind Bank, Tamilnad Mercantile Bank, Supreme Industries, Rallis India, Rossari Biotech, Mahindra Holidays and Jindal Saw.
• The earnings list also includes Agi Greenpac, Astec Lifesciences, Aye Finance, Canara Robeco Asset Management, Huhtamaki India, Kirloskar Pneumatic, Piramal Finance, Prataap Snacks, Unicommerce Esolutions and Websol Energy System.

• Goldman Sachs initiated coverage with Buy on JSW Steel and Shyam Metalics.
• Tata Steel and Jindal Steel rated Neutral, NMDC rated Sell.
• Domestic demand seen doubling by FY32, driving long-term growth.

• HSBC maintained Buy on SBI Life, HDFC Life and ICICI Prudential Life.
• Brokerage sees limited long-term impact from regulatory changes.
• Risk-reward seen improving after recent correction.

• DIIs bought Rs 4,700.71 crore in equities on April 24.
• Their buying came against FII selling of Rs 8,827.87 crore.

• Macquarie maintained Outperform with a target price of Rs 1,220.
• HSBC raised its target price to Rs 1,200, while Citi lifted its target price to Rs 1,180.
• Brokerages cited cost control, earnings beat and strong capital position.

 

• Jefferies maintained Buy with a target price of Rs 700, citing earnings momentum and silver growth.
• HSBC raised its target price to Rs 730 from Rs 720 and stayed positive.
• Citi maintained Sell and cut its target price to Rs 520, citing weaker zinc price outlook.

• FIIs were net short Rs 499.79 crore in Bank Nifty futures on April 24.
• Open interest in the segment stood at Rs 9,990.84 crore.

• Macquarie maintained Outperform with a target price of Rs 1,570, betting on positive sentiment ahead of a Jio listing.
• Morgan Stanley retained Overweight with a target price of Rs 1,803, citing strong retail growth.
• Kotak Securities flagged weakness in O2C, retail margins and upstream earnings

• FIIs held net short positions worth Rs 1,707.49 crore in Nifty futures.
• Open interest in the segment stood at Rs 37,793.78 crore.

• Bank Nifty options data showed the highest put base at 55,000 on Friday.
• The largest call open interest was placed at 57,000.
• Traders are tracking the 55,000–57,000 band for near-term moves.

• Friday's options data shows the strongest put base at 23,000 for Nifty.
• The largest call concentration remains at 24,500.
• The current derivatives range indicates a broad 23,000–24,500 zone.

 

• Bernstein maintained Outperform with a target price of Rs 1,500, saying there is no impact on current business.
• Jefferies maintained Buy with a target price of Rs 1,350, calling the development low impact.
• Brokerages said all core Paytm services remain operational.

• Jefferies maintained Buy and raised its target price to Rs 1,700 from Rs 1,660.
• Kotak Securities also raised its target price to Rs 1,600, citing stable core performance.
• Morgan Stanley kept Overweight with a target price of Rs 1,575 after sharp improvement in slippages.

• The 55,000 strike carried the highest put open interest in Bank Nifty weekly options.
• Strong put positions were also seen at 56,000 and 57,000 strikes.
• The data points to support near lower strike levels.

• The 57,000 strike held the highest call open interest in Bank Nifty weekly options on Friday.
• Strong call positions were also visible at 56,500 and 56,800 strikes.
• The structure indicates resistance in the upper strike zone.

• Fresh call additions were highest at the 24,000 strike in Friday's Nifty data.
• Additional call build-up was visible at 23,900 and 24,100 strikes.
• Sellers were active in the higher strike band ahead of the new week.

Indian equity benchmarks closed lower for a third consecutive session on Friday, led by losses in information technology and pharma stocks. The Nifty 50 ended at 23,898, down 1.14%, while the Sensex fell nearly 1,000 points, or 1.3%, to 76,664.21.

The benchmarks also posted their first weekly loss in three weeks. Sentiment remained under pressure amid uncertainty around the US-Iran ceasefire and weak earnings and guidance from IT companies.

• The 23,000 strike carried the highest put open interest in Nifty weekly options.
• Put positions were also strong at 24,000 and 23,500 strikes.
• Traders are tracking these levels as immediate downside support.

• Macquarie maintained Underperform with a target price of Rs 635, citing weak returns and slower deposit growth.
• Jefferies, HSBC and Bernstein stayed positive, highlighting lower credit costs and improving profitability.
• The wide target price range reflects divided views on the pace of recovery.

• The 24,500 strike held the highest call open interest in Nifty weekly options on Friday.
• Strong call positions were also visible at 24,200 and 24,000 strikes.
• The setup signals a key near-term resistance zone for the index.

• Wipro partnered with Kongsberg Digital to build AI-led solutions for the energy and utilities sector. NTPC Green started commercial operations of 90 MW in the seventh part capacity of its 1,200 MW Khavda-II solar project in Gujarat. FACT received government approval to manufacture DAP fertilisers under the NBS scheme at its Kochi and Udyogmandal plants.

• IndusInd Bank said its chief compliance officer Sachin Patange has resigned and Sunil Kumar Singh will take over the role. Karur Vysya Bank received RBI approval to reappoint B. Ramesh Babu as MD and CEO for two years from July 29. Shriram Finance said its board will consider a fund raise through non-convertible debentures on a private placement basis.

• City Union Bank opened nine new branches, taking its network to 987. Indian Hume Pipe received a letter of intent for a Rs 418 crore order from the Maharashtra government. IDBI Bank said the strategic disinvestment process remains confidential and it has not received any fresh update. Waaree Energies will hold a board meeting on April 29 to consider fundraising options, while Lodha Developers reduced overall debt by Rs 800 crore in Q4 to Rs 5,377 crore.

• Sun Pharma said it will acquire New York-listed Organon in an all-cash deal with an enterprise value of $11.75 billion. The company will buy all outstanding shares of Organon for $14 a share in cash, valuing the equity at about $3.99 billion.
• Sun Pharma said the deal supports its plan to expand its innovative medicines business and strengthen its established brands and branded generics business. The acquisition is expected to close in early 2027, subject to regulatory and shareholder approvals. The company said it will fund the transaction through available cash and committed bank financing.

Hong Kong’s Hang Seng index futures stood at 26,041, above the index’s previous close of 25,978.07, indicating a firmer opening for the market.

Oil prices moved higher in trade, with Brent crude rising more than 2% to $107.89 a barrel. US' WTI crude also gained more than 2% and was trading at $96.63.

• US equity futures moved lower in early trade. Futures tied to the Dow Jones Industrial Average fell 130 points, or 0.2%.
• S&P 500 futures declined 0.3%, while Nasdaq 100 futures also slipped 0.3%.

GIFT Nifty traded at 24,045, pointing to a firm opening for Indian markets. This compares with the previous close of 23,897.95 on Friday.

• Asia-Pacific markets mostly moved higher as investors looked beyond fresh diplomatic setbacks between the US and Iran, even as tensions in the Middle East kept oil prices firm.
• Japan’s Nikkei 225 advanced 0.53% to a record high, while South Korea’s Kospi rose 1% and also touched a new peak. Australia’s S&P/ASX 200 moved lower, falling 0.54%.