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India's benchmark equity indices ended lower for the third consecutive session on Friday, pulled down by information technology and pharma stocks. The indices reported their first weekly loss after two as uncertainty over the US-Iran ceasefire and poor IT earnings and guidance weighed on sentiment.
The Nifty 50 index eventually closed at 23,898, down 1.14%. Notably, this marks the first instance in April where Nifty has declined by more than 1% in a single session. The BSE Sensex shed nearly 1,000 points or 1.3% to close at 76,664.21.
HCLTech, Infosys, Cipla, TCS and Dr Reddy's were some of the top losers on the blue-chip index. Infosys 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.
The Nifty Midcap 150 index fell over 1% dragged by Persistent Systems and Coforge. The Nifty Smallcap 250 fell over 1% dragged by UTI AMC and Anant Raj.
Over 2,800 stocks on the BSE declined and 1,280 advanced.
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.
In the futures market, Nasdaq 100 contracts advanced 0.8%. S&P 500 futures wavered, with the index headed for its first weekly loss since March.
Brent advanced for a fifth straight day, climbing above $107 a barrel as the impasse between Washington and Tehran over how to proceed with talks to end their conflict carried on.
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Shares of Reliance Industries ended over 1% lower ahead of fourth quarter results and amid a broader decline in the market.
Follow RIL Q4 results live blog.
The rupee ended 14 paise weaker at 94.255 against the dollar. The local currency depreciated 1.4% during the week, worst since September 2022.
India's benchmark equity indices ended lower for the third consecutive session on Friday, pulled down by information technology and pharma stocks. The indices reported their first weekly loss after two as uncertainty over the US-Iran ceasefire and poor IT earnings and guidance weighed on sentiment.
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Tata Elxsi announced partnership with JSW Motors to establish JSW NextGen Technology Center in Pune, the company said in an exchange filing.
Vikas Gupta has stepped down as the Chief Executive Officer of Alkem Laboratories, the company informed in an exchange filing.
Shares of Dr Reddy's Laboratories Ltd. was among the top losers on the benchmark Nifty 50 index on Friday.
Goldman Sachs downgraded the stock to 'Sell' from 'Neutral' and cut its target price to Rs 1,075 from Rs 1,225. The new target implies a potential downside of 20% over the previous close.
The brokerage highlighted the opportunity for Ozempic (Semaglutide), a prescription injection for adults with Type 2 diabetes, in Canada is likely to be lower than earlier expectations. It added that valuations are running ahead of fundamentals, prompting the downgrade.
Hindustan Zinc announced first interim dividend of Rs. 11/- per equity share i.e. 550 % on face value of Rs. 2/- per share for the Financial Year 2026-27. The record date for interim dividend is April 30.
Shares of IDBI Bank jumped over 8% intraday after Finance Minister Nirmala Sitharaman reaffirmed the government's intent to proceed with the divestment of its stake in the lender, offering renewed clarity on a privatisation process that has faced prolonged delays. The stock rose as much as 8% during the session to touch Rs 79.90, its highest level in a month, as investor sentiment improved following the comments.
IDBI Bank shares are trading 3.07% at Rs 75.99 apiece, as of 1:30 pm. Trading activity also surged, with nearly 36 million shares changing hands—around 14 times the volume recorded during the same period in the previous session.
LTM Chief Executive Officer and Managing Director Venu Lambu told NDTV Profit that AI adoption is happening at a much faster pace across industries. He said stack modernisation can be driven even by a single large contract, highlighting strong deal-led transformation opportunities.
Lambu added that several of their large clients are from the technology sector. Despite multiple macroeconomic challenges during the year, the company expects to sustain its growth momentum in FY27 and believes it is well positioned to continue on that trajectory.
The Board of Directors have recommended a final Ddvidend of Rs 54 per share for Financial Year 2025-26, subject to the approval of shareholders at ensuing Annual general meeting of the company. The final dividend would be paid within 30 days from the date of declaration at the AGM. This is in addition to the interim equity dividend of Rs 8 per equity share declared by the company during the FY 2025-26. The record date for payment of final dividend would be intimated in due course.
Vodafone Idea Ltd. Chief Executive Officer Abhijit Kishore on Friday said the company is awaiting the outcome of a comprehensive reassessment of adjusted gross revenue (AGR) dues.
The government in December handed the debt-laden telco a relief based on the Supreme Court order and froze its AGR dues of Rs 87,685 crore for the period between FY07 to FY19. These frozen dues are subject to reassessment. The amount does, however, exclude AGR dues of FY18 and FY19, which stand finalised by the Supreme Court order in 2020 and therefore, are payable.
Speaking to NDTV Profit, Kishore said the reassessment exercise is currently underway and the company has made all the required submissions. He added that Vodafone Idea will share further details once it receives clarity from the government and the Department of Telecommunications (DoT).
Bajaj Finance Board is scheduled to meet on April 29 to consider the raising of funds by debt instruments including non-convertible debentures (either Indian Currency / Foreign Currency) as a part of the proposed increase in the overall borrowing limit.
Quarterly results and dividend will also be on the agenda.
Ashoka Buildcon had submitted bid to the Ministry of Energy and Water, the Republic of Angola for the ‘Electricity Sector Improvement and Access Project’. The Company has received Letter of Contract Acceptance for the project valued $72 million.
Shares of Cochin Shipyard surged over 7% intraday even as the defence pack saw broad decline. The total traded volume was over seven times the 30-day average with turnover of Rs 1,360 crore on the NSE.
The benchmarks Nifty and Sensex are trading at the session lows, dragged by IT and pharma stocks.
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Shares of Aditya Birla Sun Life AMC were in focus after Citi raised its target price to Rs 1,195 from Rs 1,130 and retained its buy rating, pointing to improving fund performance and a recovery in business momentum. The revised target suggests an upside of about 14% from the reference market price of Rs 1,047.
The brokerage said better performance across key equity schemes could help improve investor flows and support growth in average assets under management over time. That view comes as management flagged a gradual improvement in net flows in recent quarters.
Telecom regulator TRAI has recommended making additional spectrum available for auction to help telecom operators ease network congestion, Chairman Anil Kumar Lahoti said on Friday. He said the move would support debottlenecking of networks amid rapidly rising data consumption.
Lahoti said India is actively preparing for 6G and that the validity of the 600 MHz band, crucial for the rollout of faster internet, has been extended. TRAI has also recommended inter-band spectrum sharing and leasing of excess spectrum to improve efficiency in spectrum utilisation.
L&T has entered the B2B industrial electronics space with the commencement of industrial electronics manufacturing at its Coimbatore campus in Tamil Nadu. The new business vertical, christened L&T Electronic Products & Systems (LTEPS), will be headquartered in Bengaluru, while the manufacturing operations will be based in Coimbatore. To begin with, two manufacturing lines have been commissioned, offering electronics manufacturing services to both Indian and global clients.
The Nifty 50 shed as much as 260 points or 1.1% to slip below 24,000 support.
RIL's consolidated revenue is seen rising 6.7% quarter-on-quarter to around Rs 2,82,748 crore, while operating income or Ebitda is expected to increase 2.9% to about Rs 47,343 crore, according to NDTV Profit's estimates. Margin is expected to soften to 16.7% from 17.4% in the December quarter, and net profit is seen declining roughly 9% to Rs 16,944 crore.
Segment-wise, the retail business is expected to see a 10.6% drop in revenue to Rs 87,568 crore, though Ebitda may rise 2% to Rs 7,051 crore due to cost management, with growth constrained by a high base.
Irfan Razack, Chairman and Managing Director of Prestige Group, told NDTV Profit that the company’s hospitality segment continues to be driven largely by strong domestic demand. He said the group did not face any demand-related challenges in FY26 and remains optimistic about growth prospects in FY27.
Razack said Prestige Group expects around 20% growth in FY27 over the high base of FY26. He added that multiple products are currently in the pipeline across key cities, supporting the company’s positive outlook for the coming year.
Commenting on specific projects, he said the company expects to see high occupancy levels at its Bandra Kurla Complex (BKC) project by 2028. He also noted that the Hyderabad project has a development timeline of about four years and has received an overwhelming response.
Razack said the Hyderabad project is focused on catering to a key micro-market, which has contributed to the strong demand seen so far.
Infosys has approved annual stock incentive grants worth Rs 51.75 crore for Chief Executive Officer and Managing Director Salil Parekh, according to an exchange filing on Friday. The grants, approved by the board on April 23 following recommendations from the Nomination and Remuneration Committee, will be issued as Restricted Stock Units under the company's employee stock plans. Most of the awards will vest after 12 months, subject to performance conditions set by the board and the company's plans.
The largest component is an annual performance equity grant worth Rs 34.75 crore under the 2015 Stock Incentive Compensation Plan. This will vest after 12 months if performance targets are met.
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
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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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