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Indian equity benchmarks resumed declines on Thursday after one-day breather, tracking weak global cues on uncertainty around the ceasefire and reports of renewed Israeli strikes on Lebanon. The NSE Nifty 50 ended 0.9% lower to settle near 23,780 and the BSE Sensex slumped 1.2% or over 900 points to close marginally above 76,630.
Meanwhile, International benchmark Brent crude futures for June delivery rose 2.8% to $97.42 a barrel, while US West Texas Intermediate crude futures for May delivery gained 3.1% to $97.33 a barrel. Elsewhere, European shares fell at the open. The pan-European Stoxx 600 was down 0.4% shortly after the opening bell, with most major regional markets and sectors in the red. The FTSE 100 opened 0.1% lower, France's CAC 40 fell 0.5% and Germany's DAX was down 0.9%.
BEML has entered into a pact with Delhi Metro Rail Corporation to jointly bid for opportunities, according to an exchange filing.
Axis Bank will infuse Rs 389 crore in Axis Max Life Insurance to meet its funding requirements. Consequently, the Board has approved the reduction in the size of the proposed fund raise from an aggregate amount of up to 2,000 crore earlier to Rs 1,600 crore.
Retail investors could be bracing themselves for a significant shift in market liquidity as the lock-in periods for 81 newly listed companies are set to expire between April and July 2026. This is according to a new note from Nuvama Research, which indicates that shares valued as much as $67 billion will become eligible for trading during this window.
Tata Capital leads this charge on April 13 with 285 crore shares, representing 67% of its outstanding equity, becoming eligible for trade.
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M&M will buy a 26% stake in step-down arm Neon Hybren for Rs 11.2 crore, according to an exchange filing.
SEBI flagged Rs 690 crore write-offs in power sector investments, with parts later written back.
It alleged misleading disclosures, including continued funding after demerger and transactions with promoter-linked entities.
SEBI said preference shares were sold at Rs 1.49 after being bought at Rs 10, and loans were converted into zero-interest preference shares at higher valuations.
It pegged total shareholder loss at over Rs 760 crore and flagged an additional Rs 24 crore loss linked to transactions with an undisclosed promoter entity.
The government has extended the tenure of Hardeep Ahluwalia as Additional Managing Director and Chief Executive Officer of Canara Bank for three months, according to exchange filings.
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Morgan Stanley has turned decisively bullish on Indian equities, arguing that markets are set up for a major rally after one of the weakest relative periods in recent history. In its latest India strategy note, the global brokerage said the current combination of depressed valuations, improving earnings momentum and cautious investor positioning mirrors conditions typically seen near the end of market drawdowns.
The firm has set a base‑case target of 95,000 for the BSE Sensex by December 2026, implying upside of about 22% from current levels. In probability‑weighted terms, Morgan Stanley sees limited downside risks relative to the potential gains, describing the present phase as a rare entry point for long‑term investors.
India’s 10-year bond yield rose 5 basis points to 6.94%.
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It also upgraded Ashok Leyland to outperform from neutral and increased the target price to Rs 191 from Rs 187.
RateGain has entered into a strategic partnership with Hotelogix for connectivity solutions, according to an exchange filing.
He said global uncertainty remains high, with rising US Treasury yields and expectations of higher headline inflation in the coming months.
He said central banks may find it difficult to raise rates and does not expect strong global demand trends.
He added that gold remains an important asset and flagged caution on risk assets in the current environment.
Collections increased 39% QoQ to Rs 577 crore.
Net debt stood at Rs 2,937 crore as of March 31, 2026.
The National Company Law Appellate Tribunal upheld the distribution of funds under the approved resolution plan for OCL Iron and Steel.
It rejected a petition by Indian Bank, UCO Bank, Bank of Baroda, ICICI Bank and Union Bank of India, and said the allocation approved by the committee of creditors and the tribunal is valid and binding.
Source: PTI
The move follows the company’s update that its in-house LFP 46100 battery cell is ready and will be introduced in products from next quarter.
The company said the new cell format will support lower vehicle costs and expand battery manufacturing capacity at its Gigafactory.
The Gigafactory currently has 2.5 GWh capacity, with plans to scale up to 6 GWh. Trading volumes were more than double the 20-day average.
Tata Consultancy Services shares rose about 0.55% intraday to Rs 2,573.40. The stock hit a high of Rs 2,576 and a low of Rs 2,531.10 during the session.
Nifty Financial Services, Oil and Gas, and Bank indices also traded lower.
Nifty Metal index rose 1%, making it the top sectoral gainer.
Sensex declined 0.4% to 77,253 and fell up to 600 points, or 0.8%, to 76,950 intraday.
Infosys and HDFC Bank were among the top declining stocks.
Revenue seen 3% higher at Rs 68,932 crore versus Rs 67,087 crore
EBIT seen 3% higher at 17,345 crore versus Rs 16,889 crore
EBIT margin seen at 25.27% versus 25.20%
Profit seen 27% higher at Rs 13,581 crore versus Rs 10,657 crore
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