Stock Market News Today Live Updates: Nifty Tops 22,900; Sensex Soars 1,900 Points; HDFC Bank, Reliance Industries Top Gainers

• IndiGo said the situation in the Middle East has affected global aviation turbine fuel supply and led to a continued increase in prices.
• The airline said the government has limited the impact on domestic air travel costs by allowing only a partial and staggered increase of 25% in ATF prices.
• IndiGo said it is reviewing the effect of the revised ATF price from April 1, 2026 on operating costs and will announce revised fuel charges shortly.

• Gross GST collection stood at Rs 2 lakh crore in March 2026.
• Net GST collection after refunds came in at Rs 1.7 lakh crore.

• SpiceJet Chairman and Managing Director Ajay Singh said the government’s decision to allow only a partial increase in aviation turbine fuel prices is a relief for the aviation industry.
• He said the move will help airlines manage pressure from external disruptions and volatility in fuel markets.
• The statement came after the government allowed only part of the fuel price increase to be passed on to domestic routes.

• CBDT has amended the Income-tax Rules to clarify the applicability of GAAR under a new framework.
• The amended rules state that GAAR will not apply to income arising from the transfer of investments made before April 1, 2017, preserving grandfathering protection for such investments.
• The amendment will take effect from April 1, 2026, and follows the Tiger Global case on the tax dispute linked to the Flipkart exit.

• Domestic air passenger traffic in March 2026 stood at 1.47 crore, compared with 1.45 crore a year earlier, according to data compiled by NDTV Profit Research from the Ministry of Civil Aviation.
• International air traffic fell to 0.27 crore in March 2026 from 0.35 crore a year earlier.
• In Q4FY26, domestic traffic stood at 4.44 crore against 4.42 crore a year earlier, while international traffic fell to 1.01 crore from 1.06 crore.

• Mazagon Dock and IndiGo saw fresh long positions in trade.
• BDL and KPIT Tech saw short covering, while Oil India saw long unwinding.
• HDFC Life and Waaree Energies saw fresh short positions build up.

• Ola Electric said daily orders exceeded 1,000 units in the last week of March, according to an exchange filing.
• The company said registrations rose 150% month-on-month to 10,117 units in March.

• M&M reported total sales of 99,969 units in March, up 21% from a year earlier.
• Passenger vehicle sales rose 25% year-on-year to 60,272 units, below the estimate of 61,821 units. Three-wheeler sales increased 39% to 10,801 units.
• Tractor sales rose 33% year-on-year to 43,403 units, ahead of the estimate of 41,389 units, while total exports increased 4% to 3,968 units.

• IndiGo shares rose as much as 9.9% to Rs 4,332 after updates on aviation turbine fuel pricing reduced concerns over a sharp rise in fuel costs.
• Indian Oil had earlier shown a 115% increase in ATF prices, but later revised this on its website to an 8.5% month-on-month increase.
• The Ministry of Petroleum and Natural Gas said only 25% of the total increase would be passed on to domestic routes, while international routes would bear the full rise.

• Punjab State Electricity Regulatory Commission has set the FY26 tariff for DEE Development’s arm’s power plant at Rs 5.224 per kWh, according to an exchange filing.
• The revised tariff is expected to add Rs 5.8 crore in revenue through tariff differential.

• Citi has maintained its Buy rating on Hindustan Aeronautics with a target price of Rs 5,560, implying 59% upside from current levels.
• The brokerage said HAL’s FY26 provisional update points to revenue in line with estimates, while implied order inflows are 5% ahead.
• It said repair and overhaul orders are expected to stay strong in the coming years, and the current backlog provides about seven years of manufacturing revenue visibility.

• MSCI has said Greece will be reclassified from Emerging Markets to Developed Markets with effect from May 2027.
• Greece has a weight of 0.5% in the index. The redistribution of this weight is expected to be absorbed in small measure by larger markets such as China, Taiwan, South Korea and India.

• The market moved higher after two sessions of losses, with the Nifty rising 2.5% intraday for the first time since February 3.
• All sectors traded in the green, led by the Nifty India Defence index. Market breadth stayed strong, with the NSE advance-decline ratio at 9:1.
• HDFC Bank, Reliance Industries and L&T contributed the most to the Nifty’s gains. Shipping stocks also rose in early trade, with Garden Reach and Cochin Shipyard up around 10%.

• Escorts Kubota reported total tractor sales of 12,119 units in March, up 6.6% from a year earlier, according to an exchange filing. The figure was below the estimate of 13,075 units.
• Domestic tractor sales rose 7.5% year-on-year to 11,582 units.
• Tractor exports increased 10.4% year-on-year to 537 units.

• Adani Green added more than 5 GW of capacity in FY26, taking its operational portfolio to 19.3 GW.
• The new capacity included 3.4 GW of solar, 686 MW of wind and 956 MW of hybrid projects.
• The company said the new capacity will offset about 10 million tonnes of emissions each year, while its total portfolio will offset 36 million tonnes annually.

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• Jubilant FoodWorks rose as much as 4.3% to Rs 452.60.
• The stock moved higher after the company renewed its Domino’s Pizza franchise rights for 15 years, according to an exchange filing.
• The renewal also covers franchise rights in Sri Lanka and Bangladesh.

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• HDFC Bank, Reliance Industries, L&T, Infosys and ICICI Bank were the top gainers in the Nifty.
• Infosys and ICICI Bank also contributed to the gains.

• Nifty traded above 22,850 in pre-open trade.
• Sensex rose 1,800 points to move above 73,700 in pre-open trade.

• Mishra Dhatu Nigam said it recorded its highest-ever sales despite supply chain disruptions, according to an exchange filing.
• FY26 sales rose 12% year-on-year to Rs 1,206 crore.

• SML Mahindra reported total sales of 2,457 units in March, up 6% from a year earlier, according to an exchange filing.
• Passenger vehicle sales rose 8% year-on-year to 1,851 units.
• Cargo vehicle sales increased 2% year-on-year to 606 units.

• Zaggle Prepaid expects standalone revenue growth of 25-30% in FY27, according to an exchange filing.
• The company expects consolidated revenue growth of nearly 40% in FY27.

• Jubilant FoodWorks has renewed its franchise rights for Domino’s Pizza for 15 years, according to an exchange filing.
• The company has also renewed its franchise rights for Sri Lanka and Bangladesh.

• IOCL has increased aviation turbine fuel prices for domestic airlines to Rs 2,07,341 per kilolitre from Rs 96,638 per kilolitre. For domestic airlines on international run, IOCL has raised ATF prices to $1,690.81 per kilolitre from $816.91 per kilolitre.

• Fuel costs account for nearly 30% of topline. The hike suggests unit cost could rise to Rs 3.1 per km from Rs 1.5 per km. The input says every 5% increase in ATF prices affects margins by 150 basis points and EPS by 20%.

• Part of the increase has already been passed on. IndiGo had imposed a fuel surcharge on March 14, implying a fare increase of 8-10%. The surcharge covers about 20% of the rise in fuel cost, while unit revenue or RASK could increase by Rs 0.3-0.4 per km.

• A weaker rupee adds to the pressure. The input says every 1% fall in the rupee against the dollar leads to a 13% hit to FY27 profit after tax, with part of the impact coming from mark-to-market loss on lease liabilities.

• Currency and bond markets are closed today on account of annual bank closing.
• Equities are under a settlement holiday today.

• India has temporarily lowered customs duty rates on goods made in special economic zones and sold in domestic tariff areas.
• The revised duty rates will range from 5% to 12.5% and will apply from April 1, 2026 to March 31, 2027.
• The relief will be available for businesses that started production on or before March 31, 2025, according to a gazette notification.

• Bharti Airtel’s data centre unit Nxtra Data has raised $1 billion, with Alpha Wave Global investing $435 million, Airtel $290 million, Carlyle $240 million and Anchorage Capital $35 million. The funding is aimed at expanding AI-led data centre capacity.
• The deal values Nxtra at $3.1 billion. Airtel said it will continue to hold a majority stake in the subsidiary after the fund infusion.
• Nxtra runs 14 large and more than 120 edge data centres across India. The business reported FY25 revenue of Rs 2,080 crore and EBITDA of Rs 790 crore, paid Rs 83 crore in tax, and plans to invest Rs 5,000 crore to raise capacity from 240 MW to 400 MW.

• HSBC said the conflict in the Middle East could weigh on demand, growth and margins across financial companies, and it cut its AUM growth, margin and EPS estimates for the sector.
• The brokerage said liability-side pressures have appeared first and asset-side issues could also emerge across segments. Its top-down preference is private banks, followed by PSU banks and NBFCs. Within NBFCs, it prefers Cholamandalam Finance and Shriram Finance.
• HSBC lowered target prices across its coverage while keeping most ratings unchanged. These include Bajaj Finance to Rs 920 from Rs 1,110, HDFC Bank to Rs 840 from Rs 990, ICICI Bank to Rs 1,470 from Rs 1,630, SBI to Rs 1,120 from Rs 1,250 and Shriram Finance to Rs 1,050 from Rs 1,200.

• Nomura has started coverage on Nephrocare with a Buy rating and a target price of Rs 605.
• The brokerage said dialysis services offer recurring revenue and can scale, while the market remains controlled by a small number of players.
• It said NephroPlus is placed to benefit in emerging markets and expects the business to post EBITDA CAGR of 18.3% over FY26 to FY28, supported by revenue growth in the mid-to-high teens and stable margins.

• Carborundum Universal has started the voluntary winding-up of AWUKO under applicable German laws after continued underperformance, losses and an unsuccessful turnaround effort.
• The company said AWUKO remained under financial strain due to product and market limits, while price competition, global overcapacity, low utilisation, inventory build-up, geopolitical issues and macroeconomic pressures kept input costs high.
• The winding-down process is expected to have a financial impact of Rs 110-130 crore. Carborundum Universal acquired AWUKO Abrasives’ assets for 6 million euros on February 1, 2022. AWUKO’s annual sales fell from 18 million euros at the time of the deal to 11.5 million euros in FY26, while cumulative EBIT loss stood at Rs 180 crore over FY23 to FY26.

• Macquarie said battery electric vehicle penetration in passenger vehicles rose from 2.4% in CY24 to 4% in CY25 and moved to 4-5% in Q1 CY26.

• The brokerage said the share of battery electric vehicles in the Rs 20-30 lakh price band increased from 9% in CY24 to 24% in CY25 and to 36% in Q1 CY26, helped by new launches from M&M, Tata Motors, Hyundai and Maruti.

• Macquarie said charging infrastructure remains a key constraint, along with limited model options. It added that new launches with larger batteries may partly address range concerns and expects EV adoption to rise gradually over the next 12-24 months.

• The brokerage said M&M, with a target price of Rs 4,168, is better placed than passenger vehicle peers from an EV perspective because of multiple product launches. It also said TVS continues to build its position in electric two-wheelers with its recent launch below Rs 1 lakh.

• Brent crude for June delivery rose 1.5% to $105.56 a barrel. The May contract had settled about 5% higher on Tuesday at $118.35 a barrel.

• Brent prices have surged more than 60% in March.

• US WTI crude for May delivery also rose 1.5% to $102.92 a barrel. WTI has climbed about 51% in March, its best month since May 2020.

• The S&P 500 rose 2.9% in New York, while the Nasdaq 100 gained 3.4% on Tuesday afternoon.

• Both benchmarks posted their best single-day gain since May.

• The move came after Iran’s president said he was ready to end the war with the US, according to state media, and after a Wall Street Journal report said President Donald Trump wanted to end America’s military campaign.

• GIFT Nifty traded at 22,776.50 ahead of the session.

• The level was above Monday’s Nifty 50 close of 22,331.40.

• The move indicated a gap-up opening for the benchmark index.

• Asia-Pacific markets rebounded after US President Donald Trump said the Iran war could end in weeks.

• Kospi rose 5.97%, Nikkei 225 gained 3.91%, Hang Seng advanced 2.32%, ASX 200 climbed 1.52% and Shanghai added 1.16%.