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India's benchmark Nifty and Sensex gave up intraday gains, pulled by banks and Eternal, amid a sharp rise in crude oil prices and uncertainty over the US-Iran truce. The Nifty barely held 24,000 and the Sensex shed 0.5%.
The weekly and monthly F&O contracts for the Nifty will expire today. The benchmark index could be volatile, especially in the final hour of the session. The Nifty and Sensex ended 0.8% higher on Monday.
Meanwhile, Asian stock markets ended lower with the regional MSCI Asia Pacific index down 0.4%. South Korea's benchmark Kospi clinched another record high after surging 1.3%, before closing 0.35% higher. Nikkei closed 1% lower, Hang Seng slipped 0.95% and the Shanghai Shenzhen CSI 300 dropped 0.27%.
The White House said US President Donald Trump will address a proposal from Iran to reopen Hormuz “very soon”. Tehran has signaled it may be willing to accept an interim deal to reopen Hormuz in exchange for Washington ending its blockade of Iranian ports, while postponing more complex negotiations over the country's nuclear program.
Oil prices rose 1%. Brent crude traded above $111, bringing the gain this week to almost 6%, while West Texas Intermediate was above $98.
Maruti Suzuki, Eternal, Bandhan Bank, and Ceat are among the companies reporting their March quarter earnings today. Bajaj Housing Finance, Coal India, AU Small Finance Bank and Adani Total Gas shares reacted after their earnings post-market hours on Monday.
The board considered and recommended a final dividend aggregating Rs 4,401 crore. The payout is Rs 140 per share for the financial year 2025-26 which is subject to the approval of, the members at the ensuing Annual General Meeting.
European stocks traded marginally higher. The region-wide benchmark Stoxx 50 gained 0.2%
The company will pay a final dividend of Rs 5 per share for FY26.
Oil rose to a three-week high above $111 a barrel in London as traders awaited the US response to a proposal from Tehran to end the war and reopen the crucial Strait of Hormuz.
Brent crude traded above $111, bringing the gain this week to almost 6%, while West Texas Intermediate was above $98.
Source: Bloomberg
Indian airline companies could fold or cease operations unless the government provides support on aviation turbine fuel (ATF) pricing, an industry body has warned. The Federation of Indian Airlines (FIA), which represents major carriers including Air India, IndiGo and SpiceJet, has written to the Civil Aviation Secretary for relief measures to continue airlines' operations.
Magellanic Cloud has entered into a Strategic Investment and collaboration agreement with Gurgaon-based Rayonix Tech for execution and commercialisation of unmanned aerial vehicle (UAV) technology projects in India. The deal is valued Rs 150 crore.
Source: Exchange filing
Blackstone-backed Bagmane Prime Office REIT is poised to hit the capital markets with its Rs 3,405 crore initial public offering (IPO), scheduled to open on May 5.
The public issue of Bengaluru-based real estate investment trust (REIT), which owns and develops Grade A office assets, will conclude on May 7. The anchor investor bidding is scheduled for May 4, according to the offer document.
The proposed IPO comprises a fresh issue of units aggregating up to Rs 2,390 crore and an offer-for-sale (OFS) of units worth up to Rs 1,015 crore by the selling unitholder.
Proceeds will be used to acquire Luxor at Bagmane Capital Tech Park (spanning one million sq ft) as well as part-fund the acquisition of a 93 per cent stake in Bagmane Rio, which owns the 1.1 million sq ft Bagmane Rio Business Park.
Bagmane Prime Office REIT's portfolio includes six premium Grade A business parks spanning 20.3 million square feet, located in key micro-markets of Bengaluru, including the Outer Ring Road (ORR) and the Secondary Business District (SBD City).
Source: PTI
"SEBI has issued a Show Cause Notice giving their observations on certain transactions and issues pertaining to disclosures and governance. At this stage, the financial implications, if any, cannot be ascertained, as the communication is in the nature of a Show Cause Notice. The Company is in the process of taking appropriate course of action in this regard including filing of its reply."
Source: Exchange filing
Jairam Sridharan, MD and CEO, Piramal Finance, said the company will continue to borrow from a diversified set of sources and has a fairly large borrowing plan in place. Piramal Finance expects to raise around Rs 30,000 crore in borrowings during the current year. The company noted that its legacy business accounted for about 95% of the total business four years ago, indicating a significant shift in its business mix since then. It also said profitability ratios have improved by around 30 basis points.
Additionally, Piramal Finance reported that its consolidated profit after tax rose nearly 400% compared with last year.
India's blue-chip indices have been choppy today. The Nifty and Sensex gave up their intraday day gains by noon.
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AU Small Finance Bank Ltd. has submitted its final application for a universal banking license after the Reserve Bank of India relaxed the non-operative holding company requirement, financial daily The Economic Times reported. The Jaipur-based lender had received in-principle approval from the regulator in August last year.
The bank is fully prepared technologically and product-wise for the transition, executive director Vivek Tripathi told the publication.
Peak XV has fully exited One Mobikwik Systems through a block deal valued at over Rs 130 crore, sources told NDTV Profit. A total of 60.8 lakh shares, representing a 7.7% equity stake in the company, were sold in the deal at an average price of Rs 214 per share.
The buyers in the block deal included Florintree, Viridian Asset Management, Dymon Asia, and Karma Capital, according to sources.
The transaction comes shortly after MobiKwik announced that it had received an NBFC licence from the Reserve Bank of India. MobiKwik shares rose nearly 18% on Monday following the developments.
Sources added that after ADIA’s exit in September 2025, Peak XV was the last remaining private equity fund on MobiKwik’s cap table.
What should investors make of the hit banks are taking amid ECL norms?
— NDTV Profit (@NDTVProfitIndia) April 28, 2026
Aniruddha Sarkar of Equinova Investment Managers shares insights on this and more in conversation with @TamannaInamdar and @Niraj_shah. pic.twitter.com/hGixW4nhuT
The Nifty Oil and Gas index was the top sectoral gainer on the NSE. Oil India was up 4% and ONGC 3.3%.
Shares of Varun Beverages Ltd. rose during early trade on Tuesday, extending its rally from the previous session after the March quarter results. The company reported a strong performance in Q1 CY26, delivering a beat on both topline and bottom line. Consolidated sales volumes grew 16.3% year-on-year, while realisation per case improved by 1.6%. Net profit rose 20.1% YoY to Rs 872 crore compared with Rs 726 crore a year ago.
Eternal shares are trading at their session lows, down 3.4%.
The Zomato parent is expected to report stronger March-quarter earnings, with revenue seen rising 11% sequentially as rapid growth at Blinkit and firmer food delivery Margin help offset rising competition in quick commerce. Profit is estimated at Rs 126 crore. Ebitda is likely to be at Rs 431 crore with a margin of 2.38%.
Shares of Cohance Lifesciences have been on a roll in the last two trading days. After hitting upper circuit of 20% on Monday, the pharmaceutical stock is once again hovering around another upper circuit on Tuesday, as confidence around the company continues to grow after a key appointment.
The positive momentum in Cohance Lifesciences largely comes on the back of Umang Vohra's appointment as its Chairman and Group CEO.
Former Cipla chief Umang Vohra, one of the most recognised leaders in India's pharmaceutical industry, will be tasked with steering the contract development and manufacturing organisation (CDMO) through its next phase of growth.
The yellow metal rate traded flat on India's MCX on Tuesday, April 28, amid uncertainties over US-Iran peace talks and ahead of Federal Reserve key policy decision.
At 9 am on Tuesday, the MCX gold May futures contract was 0.01% up at Rs 1,50, 208 per 10 grams, while the MCX silver May futures dropped 0.25% to Rs 2,41,226 per kg.
Gold remained steady in the global markets as traders weighed the efforts by the US and Iran to find a solution to a nearly two-month war that has rattled energy supplies and raised inflation risks. The bullion touched around $4,695 an ounce after falling around 0.6% on Monday, Bloomberg reported.
Upasana Taku, Executive Director, Co-founder and CFO of MobiKwik, said that currently around 75% of the company’s revenue comes from its payments business, which is expected to decline to about 50% over the next three years as other verticals grow. She emphasised that the company’s large user and merchant base remains a key strength.
She added that despite its scale, MobiKwik continues to operate with a start-up mindset and aims to provide end-to-end solutions for customers. The company has built a strong payments franchise and plans to infuse capital and hire talent going forward to support expansion.
Taku also noted that the firm expects to see tangible changes by FY27. Its NBFC application received approval within four months, and it has been steadily building its digital payments business.
The yield on the 10-year government bond was up 3 basis points at 6.97%.
HSBC said the steel sector is currently in a "sweet spot" supported by strong multi-year demand visibility, policy protection from imports, and healthier balance sheets. As urbanisation accelerates and infrastructure investment picks up pace, demand growth is expected to outstrip capacity additions.
The bank notes that India’s steel industry is on a strong footing, with margins likely to expand going forward. It also believes the ongoing Middle East conflict will have a limited impact on the sector. Overall, HSBC expects valuation premiums for steel companies to sustain.
Shares of Coal India gained the most on the Nifty 50 after the fourth quarter results.
Coal India reported a strong Q4 FY26 performance on a year-on-year basis, with revenue rising 5.8% to Rs 46,490 crore and EBITDA increasing 6.2% to Rs 12,673 crore. EBITDA margin improved marginally to 27.3%, while net profit grew 11.2% to Rs 10,839 crore. The operational performance was better than expectations, supported by higher average selling prices under fuel supply agreements and stronger e-auction volumes.
India's benchmark Nifty and Sensex indices opened lower on Tuesday amid e;evated oik prices and uncertainity around the US-Iran deal.
The Nifty 50 fell 0.18% to start at 24,049. The BSE Sensex shed 209 points or 0.27% to open at 77,094.
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Market experts and brokerage firms have identified high-conviction trading opportunities across financial services, insurance, metals, engineering, and capital goods.
Akshay P Bhagwat, Senior Vice President at JM Financial, sees further upside potential in Jio Financial Services. He recommended a buy in the stock with upside targets of Rs 261 and Rs 272. Traders are advised to protect the position with a stop loss at Rs 239.
Sachin Janardan Sarvade, AVP – Derivatives, Retail Research at IDBI Capital Markets and Securities, highlighted a favorable risk-reward setup in Hindustan Zinc. He recommended buying the stock in the Rs 620–628 range, with an upside target of Rs 750. The suggested stop loss is Rs 569.
The Nifty 50 was down 0.18% to stay just above 24,000 in the pre-open session.
The BSE Sensex fell 0.27%.
The rupee depreciated 20 paise after open against the US dollar. The local currency weakened to 94.39.
The Managing Director and CEO of M&M Financial Services told NDTV Profit that around 90% of the company’s loan book consists of fixed‑rate loans. He said credit costs have remained within the expected range and noted that the cost of funds is primarily a function of prevailing borrowing rates.
He added that the company has diversified its business into the SME and mortgage segments, while maintaining its dominance in vehicle financing. He also said M&M Financial Services has been on a transformation journey for the past few years.
Currently, 56,650-56,700 zone is likely to act as a crucial resistance area for the Bank Nifty index. Unless this hurdle is convincingly crossed, the market is expected to remain in a consolidation phase, according to SBI Securities. On the downside, a breach below 55,600 may dampen sentiment and could lead to further weakness, dragging the index towards the 55,250–55,200 support zone.
The zone of 24,210–24,230 is expected to act as a key resistance area for the Nifty 50 index. Until this hurdle is decisively breached,
the market is likely to remain in a phase of consolidation, according to SBI Securities.
On the downside, a break below 23,950 may weaken sentiment and drag the index back towards the 23,820–23,800 support band.
Trent has announced its record date for its proposed bonus issue, the company said in an exchange filing on Monday evening. The company has set Friday, May 29, 2026 as the record date for its bonus issue, which will see one bonus equity share for every two existing fully paid-up equity shares held by shareholders, subject to statutory and regulatory approvals as well as approval through a postal ballot. This translates into a 1:2 bonus issue ratio.
Shareholders whose names appear in the company's register of members or beneficial owners' list as of the record date will be eligible to receive the bonus shares. The company has also informed stock exchanges that the record date intimation will be made available on Trent's official website.
The Japanese yen gained as much as 0.1% after the Bank of Japan kept interest rates steady at its latest meeting. The Japanese currency dropped to 159.22 per greenback.
The Bank of Japan left its benchmark interest rate unchanged on Tuesday as uncertainty over the war in Iran and the resulting spike in energy prices clouded the economic outlook. The BOJ held its policy rate steady at 0.75% at the end of its two-day policy meeting Tuesday, according to a statement. Some 80% of 51 economists surveyed by Bloomberg had forecast the stand-pat decision.
Source: Bloomberg
Iran has offered to loosen its chokehold on the Strait of Hormuz if the United States ends its military campaign and lifts an economic blockade, according to two regional officials cited by The Associated Press on Monday. The proposal would postpone negotiations over Iran's nuclear program, a condition US officials appear unwilling to accept.
The offer was delivered to US officials through Pakistan and comes amid a fragile ceasefire between Washington and Tehran, AP reported. However, US President Donald Trump is unlikely to embrace a deal that leaves unresolved the disputes that prompted U.S. and Israeli strikes against Iran on Feb 28.
Edward Yardeni, president of Yardeni Research, told NDTV Profit that a decline in oil prices would be beneficial for India. He noted that some emerging markets are natural beneficiaries of the growth in artificial intelligence.
Yardeni highlighted that the United States accounts for nearly 60% of global market capitalisation. He also observed that Russia is selling oil to India and China. According to Yardeni, oil remains the best gauge for understanding market sentiment, as oil prices are a key driver of all financial markets. He added that the United States and Iran appear to be settling in for a continued ceasefire.
Garden Reach Shipbuilders & Engineers Ltd. (GRSE) is set to announce the results for the fourth quarter of FY26 today. It is a Miniratna public sector undertaking (PSU) under the Ministry of Defence. The company is based in Kolkata and is one of India's leading shipbuilders. Here's everything you need to know about GRSE's Q4FY26 results schedule.
The stock is up 76% in the last 12 months.
Chinese and Hong Kong stock markets opened lower. The Hang Seng slipped 0.4% at open and the Shanghai Shenzhen CSI 300 shed 0.3%.
Taiwan's benchmark Taiex recovered opening losses to trade 0.4% higher.
The GIFT Nifty, an early indicator for Dalal Street, is trading at 24,065 points (down 0.45%) as of 8:00 a.m., lower than the Nifty 50's previous close of 24,092.70. The weekly and monthly F&O contracts for the Nifty will expire today. The benchmark index could be volatile, especially in the final hour of the session.
A host of global and domestic brokerages have rolled out fresh views on companies including Pine Labs, Lodha, Cipla, Varun Beverages, UltraTech Cement, AU Small Finance Bank and Coal India, as analysts track earnings momentum, competitive intensity, M&A-led growth and evolving macro and regulatory trends.
Jefferies on Varun Beverages
Maintain Buy; TP hiked to Rs 615 from Rs 550
Jefferies on UltraTech Cement
Maintain Buy; TP hiked to Rs 14050 from Rs 14025
Morgan Stanley on SBI Cards
Maintain Underweight; TP cut to Rs 545 from Rs 555
Jefferies on SBI Cards
Maintain Hold; TP cut to Rs 700 from Rs 880
The capital markets were saved by the domestic institutional investors on Monday, after they bought four times more equities than the foreign portfolio investors offloaded. DIIs bought stake worth Rs 4,124 crore and remained net buyers for the third session in a row after the Indian equity market bounced back from a three-day long slump.
On the other hand, FPIs remained net sellers for the seventh consecutive session and offloaded Indian equities worth Rs 1,151.48 crore, as per NSE's provisional data. So far in April, the overseas investors have pulled out nearly Rs 53,000 crore, according to National Securities Depository Ltd.'s data.
Over 40 companies are set to announce the results for Q4FY26 on April 28. Big names announcing fourth-quarter results on April 28 include Maruti Suzuki India Ltd., Garden Reach Shipbuilders & Engineers Ltd., REC Ltd., Bandhan Bank Ltd., Piramal Pharma Ltd., Sanofi India Ltd., Castrol India Ltd. and Dalmia Bharat Ltd. Some companies could also announce dividends. Many have already scheduled conference calls to discuss their Q4FY26 numbers in detail.
The dollar index hovered around 98.5 after a sharp intraday drop in the prior session, as renewed diplomatic efforts to resolve the US–Iran conflict reduced demand for the safe-haven currency.
The euro and British pound were flat against the greenback. The yen held steady at 159.34 before the Bank of Japan’s policy announcement later today.
South Korea's benchmark Kospi index clinched another record high after surging 1.3%. This was the 11th consecutive session of gains. The index is up 63% year-to-date.
The combined market capitalisation of listed firms in Korea surpassed the 6000 trillion won ($4.07 trillion) mark for the first time Monday.
Asian stock markets were mixed as investors weighed developments in US-Iran negotiations. The MSCI Asia Pacific Index was up 0.2%. South Korea's benchmark Kospi clinched another record high after surging 1.3%.
Japan's blue-chip Nikkei 225 Index declined 0.6% to below 60,200, retreating from recent record highs as investors positioned cautiously ahead of the Bank of Japan’s latest policy decision. The central bank is broadly expected to keep its benchmark rate unchanged as policymakers balance heightened inflationary pressures against growth risks linked to the Middle East conflict.
Oil prices held firm at elevated levels as the US assessed a fresh proposal from Iran, even as the Strait of Hormuz remained effectively shut, keeping global supply concerns intact.
Brent crude for June settlement was unchanged at $108.23 a barrel, with the more active July contract at $101.95, while WTI for June delivery rose 0.3% to $96.65. The benchmarks have climbed sharply in recent sessions as traders price in prolonged disruption.
The GIFT Nifty, an early indicator for Dalal Street, is trading at 24,130 points as of 6:45 a.m., higher than the Nifty 50's previous close of 24,092.70. The weekly and monthly F&O contracts for the Nifty will expire today. The benchmark index could be volatile, especially in the final hour of the session.
The Nifty and Sensex ended 0.8% higher on Monday.
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