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Indian equity benchmarks ended lower on Thursday after a relief rally on Wednesday. The BSE Sensex fell 0.2% or 123 points lower at 77,988.68 amid weekly F&O expiry. The NSE Nifty 50 fell 0.1% to end below 24,200.
Meanwhile, oil prices moved higher on Thursday amid continued focus on geopolitical developments and supply risks. West Texas Intermediate crude gained 0.87% to $92.07 per barrel. Brent crude, the international benchmark, rose 0.95% to $95.81 per barrel. Elsewhere, US index futures moved higher in early trade. S&P 500 futures rose 0.19%, Nasdaq 100 futures added 0.41%, while Dow Jones Industrial Average futures gained 46 points, or nearly 0.1%.
Indian equity benchmarks closed lower after the previous session’s rally.
The Sensex fell 123 points, or 0.2%, to 77,988.68 on F&O expiry. The Nifty 50 declined 0.1% and settled below 24,200.
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Japan’s Nikkei 225 climbed to a fresh record high, leading gains in Asian equities as hopes of a U.S.-Iran deal lifted risk appetite.
South Korea’s Kospi rose 2.2%, while Hong Kong’s Hang Seng gained 1.7%. Shanghai also closed higher.
Australia’s ASX 200 was the only major market in the region to end lower, slipping 0.3%.
West Texas Intermediate crude gained 0.87% to $92.07 per barrel.
Brent crude, the international benchmark, rose 0.95% to $95.81 per barrel.
Firstsource, SCI, Sonata Software and NLC India also posted strong gains, rising between 8.7% and 13%.
On the downside, Supreme Industries was the worst performer, falling 4.9%.
Astral, Zee Entertainment, Tejas Networks and Sapphire Foods also featured among the top losers.
Coforge and Oracle Financial Services were the top gainers, rising 2.4% each. Mphasis also advanced 0.8%.
Among large caps, TCS and Infosys edged higher.
HCL Tech was the top laggard, down 0.6%, followed by Wipro and Tech Mahindra.
The appeals related to actions by Bank of Baroda, IDBI Bank and Indian Overseas Bank.
The court granted liberty to pursue other legal remedies, while observations of the High Court will not affect trial of the civil suits.
Q4 consolidated net profit fell 19.1% QoQ to Rs 623 crore, below the estimate of Rs 652 crore.
Total income declined 13.9% QoQ to Rs 1,063 crore, while the company announced a final dividend of Rs 54 per share.
On the downside, HDFC Bank was the biggest drag on the index.
Reliance Industries, Bharti Airtel, Mahindra & Mahindra and SBI also weighed on the benchmark.
Nifty fell as much as 0.4% to 24,129 after rising to 24,400 intraday.
Sensex dropped over 900 points from the day’s high amid F&O expiry and fell as much as 367.74 points to 77,743, with HDFC Bank and Reliance Industries among the top drags.
Both models are powered by petrol and CNG options.
Dost is priced at Rs 8.20 lakh, while Dost XL is priced at Rs 8.75 lakh, ex-showroom.
Discussions are expected to include Air India, in which Singapore Airlines holds a 25.1% stake.
The meeting comes as Air India faces operational and cost pressures.
The court asked the parties to meet personally and explore a settlement outside court.
The matter will next be considered by the Supreme Court on April 28, with market focus on Bharat Forge due to its link to the group.
The complaint alleged recruitment irregularities, including altered marksheets, exclusion of meritorious candidates and pressure on officials.
The court said allegations involving Canara Bank officials could not be ignored and directed the RBI and CVC to examine the complaint and prior inaction.
The Nifty Pharma index led losses with a 0.5% decline.
On the upside, the Nifty Metal index was the top gainer, rising 1.3%.
TCS also supported the index in trade.
On the downside, HDFC Bank was the biggest drag, while Bharti Airtel, Reliance Industries, Titan and Sun Pharma also weighed on the benchmark.
Nifty was up 0.1% at 24,264 after rising as much as 0.7% to 24,400 earlier in the session.
Sensex traded 111 points higher at 78,222 after climbing as much as 619 points to 78,730 intraday.
Germany’s Grünenthal is also said to be in the process.
Potential binding bids may be submitted in the coming weeks, the report said.
The company’s total order book stands at Rs 4,600 crore.
It added that the order book has increased by Rs 2,240 crore since March, according to an exchange filing.
Revenue rose 15% to Rs 571 crore, while EBITDA increased 67.2% to Rs 75 crore.
EBITDA margin expanded to 13.1% from 9% a year earlier.
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.
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.
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)
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.
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.
The Nifty IT index led gains with a 1.8% rise, followed by media and defence stocks.
The Nifty Pharma index was the only loser, down 0.2%.
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%.
The brokerage said a decisive move above this band could open room for a rise towards 25,130, near the 200-day moving average.
It added the index may consolidate at current levels until a clear breakout emerges after the recent sharp recovery.
The move came ahead of the regular market open after the company’s latest quarterly results.
The local currency had closed at 93.37 on Wednesday, up 0.01% from the previous session.
The move extended gains in Asian markets as risk sentiment improved.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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%.
Hong Kong’s Hang Seng index gained 0.72%, extending gains across the region.
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.
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.
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.
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.
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.
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.
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.
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