Scan to Download
Indian equity benchmarks rallied on Wednesday, erasing most Monday's losses on positive global cues as optimism grew over a diplomatic solution to the Middle East conflict. The NSE Nifty 50 closed 1.6% higher to end above 24,200, while the BSE Sensex rallied over 1,200 points or 1.64% to settle above 78,100. Stock market was shut on Tuesday due to a public holiday.
Meanwhile, US crude prices remained under pressure after the previous session's decline as optimism grew over a diplomatic resolution to the Middle East conflict. WTI crude for May delivery fell 0.51% to $90.81 a barrel. Brent crude for June delivery edged 0.1% higher to $94.90 a barrel. Elsewhere, U.S. stock futures were little changed on Wednesday after the S&P 500 ended the previous session less than 1% below its all-time high. Futures linked to the S&P 500, Nasdaq 100 and Dow Jones traded broadly flat.
Broader markets outperformed the benchmark, with the Nifty MidCap 150 and Nifty SmallCap 250 gaining more than 2% each. Suzlon Energy and Rail Vikas Nigam led mid-cap gains, while RailTel Corp jumped over 17% and Deepak Fertilisers rose over 13% in small-caps.
All Nifty sectoral indices ended in the green. Nifty IT and Nifty Realty were the top performers, both rising over 2%, while Nifty Energy advanced for the seventh straight session.
The NSE Nifty 50 rose 1.6% to close above 24,200.
The BSE Sensex gained more than 1,200 points, or 1.64%, to settle above 78,100.
Futures linked to the S&P 500, Nasdaq 100 and Dow Jones traded broadly flat.
On Tuesday, the S&P 500 rose 1.18%, the Nasdaq Composite gained 1.96% and the Dow added 0.66%.
Futures data showed fresh accumulation in several stocks where prices and open interest moved higher.
ICICI General Insurance, ICICI Prudential Life, ICICI Bank and 360 One were among the key names on the list.
Siemens, Mphasis and CG Power also saw fresh long build-up during the session.
WTI crude for May delivery fell 0.51% to $90.81 a barrel.
Brent crude for June delivery edged 0.1% higher to $94.90 a barrel.
The U.K.’s FTSE 100 rose 0.2%, while Germany’s DAX gained 0.1% in early trade.
France’s CAC 40 declined 0.6%.
The Nifty IT index led gains with a 2.8% rise.
Realty, Defence and Media were also among the stronger sectoral performers.
The company said he is leaving to move to Canara Bank.
The update was disclosed through an exchange filing.
The March figure was still $3 billion lower than the same month last year.
Exports to the Middle East fell by $3.5 billion in March, while imports into India from the region declined 54%.
The brokerage expects FY27 growth to be driven by ramp-up across multiple businesses.
It said new energy, solar expansion at Mundra, copper and roads could support earnings from FY27 onward.
Net profit declined 96% YoY to Rs 6 crore, impacted by a one-time loss of Rs 102 crore in the quarter.
The company also reappointed Prayasvin Patel as CMD for three years and appointed Chintan Shah as CFO with immediate effect.
Japan’s Nikkei 225 rose 0.44%, while Hong Kong’s Hang Seng added 0.29%.
Australia’s ASX 200 advanced 0.09%, and Shanghai ended marginally higher.
The meeting comes after both sides finalised the framework for an interim trade agreement.
The talks are significant as changes in U.S. tariff policy have delayed progress on the proposed pact.
The app is expected to use Aadhaar-based authentication to help curb diversion and hoarding.
Farmers may also be able to check stock availability and book fertiliser through the platform.
The brokerage said Dr. Reddy’s Canada approval is still pending.
It added that the company’s semaglutide-led FY27 earnings recovery case now appears weaker.
He said IT firms may benefit from AI adoption, attractive valuations and rupee depreciation over the next two years.
Agarwal added that ER&D stocks face valuation risks and may see pressure if global conditions change.
Key levels being tracked are 24,300-24,500 for Nifty and 56,500-57,000 for Bank Nifty, with the broader Nifty setup seen stronger than banking peers.
Investors are also watching Q4 earnings, the rate path and global technology cues after ASML raised its full-year sales guidance.
The Bombay High Court said mediation can proceed only if all parties agree, while one side sought more time for discussions.
The matter has been listed for tomorrow to decide whether it moves to mediation or continues in court.
Manufacturing products inflation rose to 3.39%, while primary articles inflation increased to 6.36%. Fuel and power inflation turned positive at 1.05%.
Core WPI inflation rose to 3.7% from 3.3%, making the March reading the highest in 38 months.
The company is seeking approval to participate in all forms of insurance business.
The update was disclosed through exchange filings.
Prices of Liril, Pears and Dove variants were raised by around Rs 2-3 per 100 gram pack, according to the update shared.
The company’s price hikes are aimed at protecting margins amid higher input cost pressure.
The milestone vehicle is a Starbus EV.
Tata Sons Chairperson N Chandrasekaran, Uttar Pradesh Chief Minister Yogi Adityanath and Tata Motors CV MD and CEO Girish Wagh flagged off the vehicle.
Locations covered include Lovely Professional University, Tetr College of Business and Masters Union College of Business.
Around 10 locations are being searched, including premises linked to AAP MP Ashok Mittal.
Paras Defence rose 8.46%, while Data Patterns added 4.94%.
Mishra Dhatu and Cyient DLM also traded higher, reflecting broad buying interest in the sector.
The company secured two contracts from Rail Vikas Nigam worth Rs 564.5 crore and another Rs 43.96 crore order from the Uttar Pradesh Police Recruitment and Promotion Board.
RailTel also said a Rs 17.12 crore order from Navodaya Vidyalaya Samiti was cancelled due to administrative reasons.
The project includes bridges, earthworks and station buildings, with execution scheduled over 18 months.
This is the company’s second major order in recent weeks after a Rs 401 crore contract secured in March.
The company approved a 1:1 bonus share issue, giving shareholders one new equity share for every existing share held.
The stock rose as much as 4.24% to Rs 837.75 in early trade.
Trading volume was nearly five times its 20-day average, showing strong market activity.
The stock traded above the Bloomberg-tracked consensus target price of Rs 198.63.
Trading volume was more than three times its 20-day average, indicating strong activity.
The stock has gained 15% over the last five days.
Q4 net profit declined 16.8% QoQ to Rs 763 crore from Rs 917 crore.
Total income fell 12.1% QoQ to Rs 1,428 crore from Rs 1,624 crore.
Trading volume was 73% above its 20-day average, indicating higher activity in the stock.
The stock has gained 36% in the last five days.
The Nifty PSU Bank index led gains with a 2.6% rise.
Realty, IT and Media were also among the stronger performers in early trade.
Other index constituents also added to gains, supporting the broader move higher.
Dr Reddy’s and ONGC were among the key negative contributors to the index.
Nifty rose as much as 1.8% to 24,280. Sensex gained 1.9%, or 1,422 points, to 78,270.
India’s 10-year government bond yield declined 6 basis points in market trade. The benchmark yield moved lower to 6.88%.
Indian equities indicated a strong start in pre-open trade. Nifty moved above the 24,100 mark, while the Sensex surged more than 1,600 points.
The local currency gained as much as 21 paise to 93.12 against the greenback.
Retail trading participation eased after the FY25 peak, even as total investors increased by about 1.3 crore.
Top brokers accounted for much of the decline, with Zerodha, Angel One and Upstox among those seeing lower active participation.
Reports of a U.S. proposal for a 20-year freeze on Iran’s uranium enrichment, and Tehran’s willingness to consider a shorter period, signalled continued diplomatic engagement.
More than 20 commercial ships passed through the Strait of Hormuz in the past 24 hours, easing concerns over supply disruption and supporting risk appetite.
Share lock-in expiry is due for LG Electronics, Rubicon Research and Bharat Coking Coal.
Q4 earnings are scheduled from Elecon Engineering, HDB Financial Services, ICICI Lombard General Insurance Company and Tejas Networks. The U.S. EIA oil report is also due later in the day.
The company said 24 subcontractor workmen were affected and 10 succumbed to injuries.
Vedanta said it is extending support to the injured, coordinating with authorities and has started a detailed investigation.
The brokerage said Brazil’s ANVISA denied registration for the company’s Semaglutide generic, Embeltah.
Citi said the rejection may keep Dr Reddy’s out of the initial phase of Semaglutide generic launches in Brazil.
The brokerage said valuations based on revised earnings are not inexpensive despite recent stock price corrections.
It added that a downside scenario could lead to a 15-20% cut in earnings estimates, leaving limited room for valuation upside.
The brokerage said Value was the weakest performer in the Nifty 500 in March, while Quality and Growth held up better.
It also cut MSCI India earnings growth forecasts to 11% for CY26 and 13% for CY27, while retaining a preference for Momentum, especially earnings momentum.
The brokerage said demand is shifting towards faster delivery timelines, which could expand the addressable market beyond grocery.
Jefferies retained a high-conviction Buy on Eternal and also maintained Buy on Swiggy, while flagging higher risk-reward for Swiggy.
Growth expectations saw the sharpest drop since March 2022, while inflation expectations rose to the highest since May 2021.
The survey said most managers do not expect a recession, but further market gains may need rate cuts and earnings upgrades.
Hong Kong’s Hang Seng index gained 0.95% in early trade.
The brokerage cited slower growth visibility, limited new product launches and the phase-out of the company’s largest insulin brand.
It also flagged management changes and said the current valuation does not justify a premium multiple.
Jefferies maintained Buy and raised the target price to Rs 3,770, while Citi maintained Buy with a Rs 3,900 target.
Kotak Securities downgraded the stock to Reduce from Add and raised the target price to Rs 3,250, citing valuation concerns.
BofA expects FY27 CPI at 5.2% and sees a 50 basis point rate hike from December 2026.
Kotak Securities estimates FY27 CPI at 4.7%, while Citi revised its FY27 forecast to 4.6%. Both expect the RBI to stay on hold for now unless inflation risks rise further.
The company invested Rs 54 crore in the expansion.
With the new facility, total EPS production capacity has increased to 1.15 lakh tonnes per annum.
The team is expected to return to India on Thursday.
Officials are also expected to visit the European Court of Human Rights in Strasbourg within the next two weeks after Nirav Modi moved the court in a final attempt to delay extradition.
A reported U.S. proposal for a 20-year freeze on Iran’s uranium enrichment, and Tehran’s counteroffer for five years, signalled ongoing diplomatic engagement despite differences. (TIME)
More than 20 commercial ships reportedly passed through the Strait of Hormuz in the past 24 hours, easing concerns over disruption to global oil supply routes. (timesofisrael.com)
Average realisations increased 7% YoY to Rs 16,569 per sq ft.
The company said FY26 sales reached a record Rs 30,025 crore, supported by launches. It also added new projects with estimated GDV of over Rs 50,000 crore.
Vehicle sales increased 17.72% YoY to Rs 1,508 crore.
The company said sales growth was affected by limited availability of BYD cars and expects supply to normalise in the June quarter.
The move could support pricing and capacity use for Tata Steel Netherlands, which operates within the EU market.
Any impact on Tata Steel UK and India operations is seen as limited compared with the group’s overall business mix.
The facility will be set up by the IAF with technical support from GE Aerospace.
Once operational, it is expected to reduce reliance on overseas repair centres and improve turnaround time for engine maintenance.
The new entities are Babai Transmission, Bikaner Transmission, Humnabad Power Transmission and Hebbani Power Transmission.
The update was disclosed through an exchange filing.
The S&P 500 gained 1.2% and closed near a fresh record high after recovering recent war-led losses.
The Nasdaq 100 advanced 1.8%, marking its 10th straight day of gains, its longest winning run since 2021.
U.S. crude for May delivery fell 0.88% to $90.4 a barrel. Brent crude for June delivery slipped 0.31% to $94.47 a barrel.
Japan’s Nikkei 225 rose 1.16%, South Korea’s Kospi gained 3.05%, and Australia’s ASX 200 added 0.20%.
GIFT Nifty traded at 24,218, above the Nifty 50’s previous close of 23,842.65 on Monday. The trend indicates a higher opening for Indian equities at the start of trade.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
