Stock Market News Today Live Updates: Nifty Near 24,400, Sensex Up Over 500 Points; HDB Financial Rallies 12% After Q4 Results

• Parvat Srinivas Reddy of MTAR Technologies told NDTV Profit that 55-60% of current revenue comes from Bloom.

• He said the company has nuclear orders worth about Rs 650-700 crore and is pursuing customer diversification, including entry into the oil and gas segment.

• Reddy added working capital days are expected to decline sequentially and the company is confident of timely order execution.

• Manav Medewala of Mirae Asset Sharekhan told NDTV Profit that macro conditions and discretionary spending led to a decline in constant-currency revenue.

• He said he does not expect surprises in Wipro Q4 earnings and expects performance to be broadly in line with estimates.

• Medewala added that Wipro’s buyback could be close to Rs 15,000 crore.

• Jonathan Barratt told NDTV Profit he sees strong growth potential from India despite current market volatility.

• He said markets are turning jittery and need concrete news on US-Iran talks.

• Barratt added diplomacy needs to move to the forefront for sentiment to improve. (NDTV Profit)

• Shares of ICICI Lombard General Insurance fluctuated after Q4 results and traded near the previous close.

• The insurer reported standalone Q4 net profit of Rs 547 crore, up 7.3% from a year earlier. Net premium earned rose 10.8% to Rs 5,791 crore.

• The company also declared an interim dividend of Rs 7 per share.

• JPMorgan upgraded ICICI Lombard General Insurance to Outperform from Neutral and raised its target price to Rs 2,170 from Rs 1,940.

• The brokerage said Q4 reflected a return in growth alongside a strong underwriting performance.

• It added retail segments drove premium growth, while management gave a more positive outlook on key business lines, especially motor insurance.

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• Shares of HDB Financial Services rose as much as 12.4% to Rs 723.95 after its Q4 results.

• Net profit increased 41.4% to Rs 751 crore, while net interest income rose 22% to Rs 2,399 crore.

• Asset quality improved, with gross NPA at 2.44%, net NPA at 1.09%, and net interest margin at 8.23%.

• Nifty rose as much as 0.66% to 24,392
• Sensex rose as much as 0.7% or 566 points to 78,677.56

• Shares of HDB Financial Services climbed 12% in pre-market trading.

• The move came ahead of the regular market open after the company’s latest quarterly results.

• The rupee opened stronger for a second straight session and rose as much as 11 paise to 93.26 against the US dollar.

• The local currency had closed at 93.37 on Wednesday, up 0.01% from the previous session.

• Japan’s Nikkei index rose 2.4% to touch a fresh record high of 29,552.

• The move extended gains in Asian markets as risk sentiment improved.

• Stocks in focus on the positive side include HDB Financial Services after Q4 net interest income beat estimates and ICICI Lombard General Insurance after a Q4 beat on combined ratio.

• Dixon Technologies and PG Electroplast may track reports of a mobile PLI 2.0 scheme, while Aurobindo Pharma, Brigade Enterprises, RailTel Corporation of India and John Cockerill India are also in focus on company-specific updates.

• On the weaker side, Tejas Networks may react to higher losses, while GMR Airports and Sagility India are in focus after a weak update and a tax demand, respectively.

• ICICI Lombard General Insurance reported standalone Q4 net profit of Rs 547 crore, up 7.3% from Rs 510 crore a year earlier.

• Net premium earned rose 10.8% to Rs 5,791 crore from Rs 5,226 crore.

• The company declared an interim dividend of Rs 7 per share.

• Securities and Exchange Board of India and Department of Telecommunications have signed an agreement to strengthen action against market frauds and investor scams.

• The pact enables real-time data sharing between the two agencies through DoT’s Digital Intelligence Platform to help detect suspicious activity and misuse of telecom resources.

• The arrangement took effect from April 15 and is aimed at improving surveillance and coordination across enforcement agencies.

• Jefferies kept its Buy rating on HDB Financial Services with a target price of Rs 845, citing better margins, lower provisions and improved asset quality in Q4.

• Morgan Stanley maintained Equal-weight with a target price of Rs 720 after lower bad loan formation and continued earnings beats.

• Both brokerages said improving credit trends were the key takeaway from the quarter.

• Brigade Enterprises has signed a development project spread across 8.63 acres in East Bengaluru, according to an exchange filing.

• The Bengaluru project has a gross development value of Rs 7,200 crore.

• HDB Financial Services reported Q4 net profit of Rs 751 crore, up 41.4% from Rs 531 crore a year earlier. Net interest income rose 22% to Rs 2,399 crore from Rs 1,973 crore.

• Gross NPA ratio stood at 2.44%, while net NPA ratio was 1.09%. Net interest margin improved to 8.23% from 8.09% in the previous quarter.

• The company also approved fundraising of up to Rs 32,825 crore through debt and other borrowing routes.

• Jefferies said cement companies are facing higher fuel and packaging costs, with total pressure estimated at Rs 450-500 per tonne.

• The brokerage said price increases of Rs 25 per bag are underway to offset rising costs.

• It added demand remains firm in South India, led by Andhra Pradesh and Telangana, with double-digit growth expected, while labour shortages remain manageable.

• China’s economy grew 5% year-on-year in the first quarter, ahead of the 4.8% estimate, according to Bloomberg data.

• March industrial output rose 5.7%, above expectations of 5.3%.

• March retail sales increased 1.7%, below estimates of 2.4%, while January-March fixed investment rose 1.7% versus a 1.9% estimate.

• Jefferies said recovering power demand and focus on energy security are supportive for renewable energy and solar equipment makers.

• The brokerage expects India’s renewable energy capacity to reach 359 GW by FY30 and sees power demand growth recovering to 6% in FY27 after muted trends in FY25 and FY26.

• It named JSW Energy and NTPC as top power picks, while preferring Premier Energies and Emmvee among solar PV players.

• Macquarie maintained an Underperform rating on Aurobindo Pharma with a target price of Rs 1,050. It said the expanded biologics CMO contract pipeline supports the company’s capabilities, but meaningful financial gains may take three to four years.

• The brokerage said the latest agreement is unlikely to have a material near-term earnings impact.

• Macquarie also retained an Outperform rating on ICICI Lombard General Insurance with a target price of Rs 2,350, citing focus on profitability, underwriting discipline and support from IFRS and IRDAI regulations.

• India’s electronics imports rose 17.76% to $116.17 billion in FY26, according to Commerce Ministry data. Imports stood at $98.65 billion in the previous fiscal.

• Electronics exports increased 24.7% to $48 billion, supported by smartphone shipments.

• The data shows imports continued to exceed exports despite growth in domestic manufacturing.

Source: PTI

• US index futures were largely steady in early trade.

• Futures linked to the S&P 500 and Nasdaq 100 were near the flatline.

• Dow Jones Industrial Average futures rose 45 points, or 0.1%.

• Asian equities traded higher in early deals. Mainland China’s CSI 300 index rose 0.3%.

• Hong Kong’s Hang Seng index gained 0.72%, extending gains across the region.

• HSBC retained its Buy rating on Trent and lowered its target price to Rs 4,800 from Rs 5,300.

• The brokerage said confidence in the company’s growth outlook is improving after Zudio remained on track to add 200 stores in FY26 despite lower productivity.

• It said key triggers are sustained 18-20% growth and no material impact from cannibalisation or competition. HSBC estimates 4% like-for-like growth for Zudio in FY27.

• HSBC retained its Buy rating on Nuvoco Vistas Corporation with a target price of Rs 420.

• The brokerage said Q4 capped a strong FY26 and noted recent cement price hikes are positive amid rising cost pressure.

• It said increases of Rs 10-12 per bag in trade and Rs 20 per bag in non-trade markets are supportive, with sustainability of hikes remaining the key factor.

• UBS upgraded Dabur India to Neutral from Sell, while reducing its target price to Rs 490 from Rs 540.

• The brokerage said valuations appear to have bottomed and the Q4FY26 business update indicates an improvement in domestic operations.

• It said the company needs consistent execution and sustained growth recovery for any further re-rating.

• Jefferies said domestic flows into equities are nearing $10 billion a month, supported by mutual fund and pension fund inflows.

• It said SIP contributions remained firm, with Q1CY26 flows up 19% from a year earlier despite weak three-year returns for the Nifty 50.

• The brokerage said these flows are providing market support, though valuations remain elevated. It also noted some promoters are increasing stakes during the correction.

• Jefferies retained its positive stance on most banks but reduced several target prices after factoring in the impact of the West Asia conflict.

• The brokerage said FY27 profit estimates could be lowered by 2-4% due to lower net interest margins, weaker treasury income and higher credit costs.

• It said large private banks face smaller earnings cuts than PSU and smaller private lenders. Its preferred picks are HDFC Bank, Axis Bank, State Bank of India, ICICI Bank and Kotak Mahindra Bank.

India has rejected allegations made in the U.S. Section 301 investigation on structural excess capacity and production in manufacturing sectors.

The government said the notice does not identify any specific Indian policy that harms U.S. commerce and lacks sufficient basis for the claims. India has asked the U.S. Trade Representative to issue a negative determination and terminate the investigation.

RailTel Corp received a letter of intent worth Rs 100 crore from the Divisional Commissioner, Konkan Division.

A letter of intent signals the proposed award of a project or contract, subject to final terms and execution.

• Indian markets may open higher for a second straight session as global cues remain supportive.
• Optimism over renewed U.S.-Iran negotiations and a possible extension of the two-week ceasefire lifted sentiment.
• Asian stocks traded higher, while the S&P 500 and Nasdaq closed at record highs.
• India’s trade deficit narrowed in March, crude prices stayed steady, and foreign investors turned net buyers in cash markets.

Donald Trump said the Iran war is very close to over and added that Tehran wants to reach a peace deal, according to an interview with the U.S. President.

His comments added to market optimism that a diplomatic solution could emerge, supporting global risk sentiment despite earlier setbacks in talks.

Markets tracked diplomatic developments after a report said the U.S. and Iran have an in-principle agreement to extend their two-week ceasefire to allow more talks, according to a report by Associated Press.

The reported move signalled lower near-term geopolitical risk and supported risk appetite across global markets.

• Indian equity benchmarks rallied on Wednesday as positive global cues lifted sentiment and helped markets recover most of Monday’s decline.
• The Nifty 50 rose 1.6% to close above 24,200. The Sensex gained more than 1,200 points, or 1.64%, to end above 78,100.

GIFT Nifty pointed to a gap-up opening for Indian equities.

The index traded at 24,365.50, above the previous Nifty 50 close of 24,231.30, indicating a stronger start for the benchmark.

Wall Street ended mixed on Wednesday, with the S&P 500 and Nasdaq Composite closing at record highs.

The S&P 500 rose 0.80% to 7,022.95, crossing the 7,000 mark for the first time. The Nasdaq gained 1.59% to 24,016.02 and extended its gains for the eleventh consecutive trading session. The Dow Jones fell 72.27 points, or 0.15%, to 48,463.72.

Oil prices moved lower in early trade. West Texas Intermediate fell 0.38% to $90.94 a barrel, while Brent crude declined 0.36% to $94.59 a barrel.

• Asian markets opened higher after hopes of a U.S.-Iran deal lifted Wall Street benchmarks to fresh record highs.
• Japan’s Nikkei 225 rose 1.28%, while South Korea’s Kospi gained 0.71% in early trade.