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India's benchmark equity indices traded lower on Friday, dragged by IT heavyweights and pharma companies. The Nifty slipped as much as 0.7% but managed to stay marginally above 24,000 — a support level. The BSE Sensex shed over 600 points or 0.8%.
HCLTech, Infosys, Cipla, TCS and Dr Reddy's were some of the top losers on the blue-chip index. Infoys shed as much as 3.7% after its FY27 guidance soured investor sentiment. Cipla tanked after partner unit, Pharmathen's Rodopi facility in Greece, was placed under an import alert by the USFDA.
Meanwhile, most Asian stock markets were down as investors remained cautious despite a three-week extension of the Israel-Lebanon ceasefire. The two countries agreed to extend their ceasefire by three weeks following a meeting in the White House with top US officials, President Donald Trump.
The MSCI Asia Pacific index was flat. Japan's benchmark Nikkei 225 gained as much as 0.9% while the Topix rose 0.4% after core inflation in the country accelerated for the first time in five months with Iran war fueling energy worries. South Korea's Kospi was down 0.6%, Hang Seng fell 0.2% and the CSI 300 dropped 0.8%.
Oil prices extended gains for a fifth consecutive day — the longest rally since January — as faltering talks between the US and Iran heightened fears of prolonged supply disruptions in the Persian Gulf. Brent crude for June settlement rose 1.1% to $106.20 a barrel, pushing weekly gains to about 17%, while WTI for June delivery climbed 0.96% to $96.77, holding near the $97 mark.
Goldman Sachs on Dr Reddy's Labs
Source: Bloomberg
Gujarat Themis Biosyn shares surged early 4%, before falling in to red, after it announced the signing of an asset purchase agreement to acquire a portfolio of anti-tuberculosis (TB) and anti-infective brands from Sanofi, the French-holding company of the Sanofi group, headquartered in Paris.
The company has entered into an Asset Purchase Agreement for acquisition of 13 established branded generic products with a strong presence across more than 55 countries in Europe, the Middle East and Africa for Euro 158 million payable in cash at closing. The concerned portfolio reported net sales of approximately Euro 62 million for the year ended 2025.
Shares of Waaree Energies Ltd are under heavy pressure on Friday, affter reports of the US Commerce Department announcing preliminary antidumping duties on solar cells and panels imported from India, Indonesia and Laos surfaced. This marks the latest set of tariffs imposed over a decade on solar imports from Asia.
Waaree Energies shares have slumped to a low of over 5% in early trade, and are trading 4.26% lower at Rs 3,267 apiece as of 9:30 am. The stock has corrected 10.81% year-to-date.
Infosys shares fell 3.4% to hit a 52 week low. The stock rebounded after briefly breaching Rs 1200.
Cipla’s partner unit, Pharmathen’s Rodopi facility in Greece, has been placed under an import alert, according to the US FDA website. Cipla has a partnership with Pharmathen International S.A., specifically involving the Rodopi manufacturing unit.
The Rodopi facility manufactures Lanreotide Injection. As a result of the import alert, revenue from Lanreotide Injection is expected to be excluded from estimates.
Analysts had earlier projected revenue of $50–60 million from Lanreotide Injection in FY27 and around $100 million in FY28.
Source: USFDA, Analyst
A majority of IT stocks on the NSE fell, led by heavyweights HCLTech and Infosys after they announced their Q4 result and FY27 guidance a day ago.
The Nifty and Sensex opened lower on Friday, dragged by Infosys and pharma stocks.
Markets in charts:
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Hindustan Construction Company secured a significant infrastructure contract valued at approximately ~2.917 6 crore from City and Industrial Development Corporation of Maharashtra Limited (CIDCO) for the construction of a 22.21 km raw water tunnel and a 250 MLD water treatment plant in Raigad. The project has been awarded to the LCESPL-HCC Joint Venture, in which HCC is responsible for executing works worth approximately ~1 1 00 crore.
The yield on the 10-year government bond opened flat at 6.97%.
The two-year note touched 6% after over a week and the 30-year was at 7.54%
Atul Auto has signed a memorandum of understanding (MoU) with Bengaluru-based Exponent Energy to collaborate on electric three-wheelers. Under the agreement, the company plans to deploy around 15,000 electric vehicles, priced at approximately Rs 3.3 lakh per unit.
As part of the partnership, the electric three-wheelers will be integrated with Exponent Energy’s battery and charging system.
Source: Exchange Filing
The rupee opened 10 paise weaker at 94.215 against the dollar. The local currency has depreciated 1.4% so far this week and is set for second consecutive weekly decline, reflecting sustained pressure from rising crude, with Brent crude oil climbing back above the $100-per-barrel mark. The RBI has stepped into the market in recent sessions, selling dollars to limit volatility. However, dealers noted that strong dollar demand from oil importers and limited supply have continued to exert downward pressure on the currency, keeping it on a weakening trajectory.
Brokerages rolled out fresh calls on Union Bank of India, PVR Inox, Adani Energy Solutions, Infosys, and Cipla, while also flagging trends across cement, autos and fintech.
The common read-across from the Q4FY26 results is that Indian tier-1 IT earnings were not disastrous, but FY27 guidance and management tone remain more cautious than the headline profit growth suggests. The sector's strength is in deal wins, AI positioning, and margins; the weakness is that conversion, discretionary spending, and growth visibility are still not strong enough to justify an aggressive rerating yet.
Tier-1 is still dealing with soft demand visibility, conservative client spending, and cautious FY27 commentary even where reported Q4 numbers looked optically healthy. Infosys guided FY27 revenue growth at just 1.5%-3.5%, HCLTech guided 1%-4% CC growth for FY27, Wipro guided Q1FY27 at -2% to 0% CC, and TCS itself said macro headwinds continue despite better sequential momentum.
Read the column from NDTV Profit's Niraj Shah below.
ADP, the operator of the main Paris airports, agreed to sell up to 7.3% of India’s GMR Airports Ltd. as part of a deal worth as much as €924 million ($1.08 billion). The French group agreed to sell the stake to a vehicle connected to GMR’s founding family in a multistage deal, according to a statement confirming an earlier Bloomberg News report. ADP will sell 3.4% of its shares for €256 million and receive a put option to sell an additional 3.9% for about €285 million.
The family’s vehicle has also agreed to purchase convertible bonds for €301 million face value, plus accrued interest as of the date of the transaction, which is set to be completed by March 31, 2027, ADP’s statement showed.
Source: Bloomberg
Godawari Power:
Inventurus Knowledge Solutions:
Force Motors:
Krishna Institute of Medical Sciences (KIMS)
Lux Industries:
SPML Infra:
Market analysts and brokerage firms have identified high-conviction trading ideas for the upcoming session, focusing on the financial services, defence, metals, and pharmaceutical sectors.
Top picks include digital finance major Jio Financial Services, PSU lender Indian Bank, pharma player Laurus Labs, defence heavyweight Bharat Dynamics, and metal major Nalco.
Gujarat Themis Biosyn has announced the signing of an asset purchase agreement to acquire a portfolio of anti-tuberculosis (TB) and anti-infective brands from Sanofi, the French-holding company of the Sanofi group, headquartered in Paris.
The company has entered into an Asset Purchase Agreement for acquisition of 13 established branded generic products with a strong presence across more than 55 countries in Europe, the Middle East and Africa for Euro 158 million payable in cash at closing. The concerned portfolio reported net sales of approximately Euro 62 million for the year ended 2025.
Nifty April futures is down 0.88% to 24,166.00 at a discount of 7 points.
Nifty Options 28th Apr Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 23,000.
Adani Green Energy Ltd, Atul Ltd, Bhansali Engineering Polymers Ltd, Can Fin Homes Ltd, Chennai Petroleum Corporation Ltd, DCB Bank Ltd, Hindustan Zinc Ltd, Indusind Bank Ltd, Lodha Developers Ltd, L&T Finance Ltd, Mahindra & Mahindra Financial Services Ltd, Mangalore Refinery and Petrochemicals Ltd, Reliance Industries Ltd, Shriram Finance Ltd, Supreme Petrochem Ltd, Tanla Platforms Ltd, Zensar Technologies Ltd.
Indian equity benchmarks closed lower for a second consecutive trading session. The BSE Sensex fell 852 points to end at 77,664, while the NSE Nifty 50 closed 0.84% lower at 24,173. Indian equity benchmarks ended lower for a second straight session, with the Nifty closing below 24,200 and down over 0.8%. Trent and Shriram Finance were the top losers on the index, each falling more than 3.5%.Broader markets outperformed the benchmark, though both ended in the red.
China and Hong Kong markets opened lower on Friday. The Hang Seng was down 0.94% and CSI 300 slid 0.8%.
Asian stock markets were mixed on Friday as investors remained cautious despite a three-week extension of the Israel-Lebanon ceasefire. The two countries agreed to extend their ceasefire by three weeks following a meeting in the White House with top US officials, President Donald Trump.
The MSCI Asia Pacific index was flat.
Japan's benchmark Nikkei 225 gained as much as 0.9% while the Topix rose 0.4% after core inflation in the country accelerated for the first time in five months with Iran war fueling energy worries.
South Korea's Kospi fell 0.3%.
The GIFT Nifty index, a futures contract based on the benchmark Nifty 50, is trading 110 points higher at 24,236 as of 7:45 a.m. The Nifty closed at 24,173 in the last session.
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