Good morning!
The GIFT Nifty, an early indicator for the benchmark Nifty 50, is up 0.19% at 24,218 as of 6:20 a.m. Equity-index futures for the US (S&P 500) was up 0.26% and Europe (Euro Stoxx 50) was down 0.04%.
Indian Market Recap
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.
US Market Recap
US equities jumped on Thursday over hopes that the US and Iran will extend the two-week ceasefire in the Middle East and on signs of improvement in the labour market, Bloomberg reported. The S&P 500 Index ended 0.3% higher in New York, marking another record led by the energy and real estate sectors, while the Nasdaq 100 advanced 0.5%, also touching a record, and continued its winning streak to 12 days, longest since 2017. The blue-chip Dow Jones Industrial Average rose 0.2%.
Asian Market Update
Asia markets opened on a low note on Friday, as investors remained cautious over the Middle East conflict and related ceasefire talks, unlike the Wall Street's record-setting surge, CNBC reported.
South Korea's Kospi was down 0.43% and the small-cap Kosdaq slipped 0.35%. Australia's S&P/ASX 200 dropped 0.28%. Japan's Nikkei dropped 0.7%, while the Topix was down 0.62%.
Commodity Check
Brent dropped, costing $98 a barrel after rising almost 5% on Thursday, while West Texas Intermediate was around $93 amid hopes of ceasefire extension, while gold remained steady at around $4,795 an ounce in early trading, after adding nearly 1% this week.
Earnings In Focus
Mastek
Q4 Earnings On Thursday
HDFC Life Q4 FY26 (Cons, YoY)
- Net Premium Income up 9% at Rs 25,998 crore versus Rs 23,843 crore
- Net Profit up 4.7% at Rs 497 crore versus Rs 475 crore;
- To pay dividend of Rs 2.10/share;
- To issue 1.4 crore shares worth Rs 1,000 crore to HDFC Bank;
- Reappoints Niraj Shah as ED & CFO for 5 years
Wipro Q4 FY26 (Cons, QoQ)
- Revenue up 2.88% at Rs 24,236.3 crore vs Rs 23555.8 crore. (Est Rs. 23,974 cr)
- Ebit up 19.74% at Rs 4180.8 crore vs Rs 3491.4 crore. (Est Rs. 4,019 cr)
- Ebit margin up 242 bps at 17.25% vs 14.82% (Est Rs. 16.77%)
- Net profit up 12.27% at Rs 3501.8 crore vs Rs 3119 crore (Rs. Rs. 3,448 cr)
Alok Industries Q4 FY26 (Standalone, YoY)
- Revenue up 2.2% at Rs 933 crore versus Rs 913 crore
- EBITDA down 23% at Rs 6.3 crore versus Rs 8.1 crore
- Margin down 22 bps to 0.67% versus 0.89%
- Net Loss at Rs 186.6 crore versus loss of Rs 67.8 crore
VST Industries Q4 FY26 (Standalone, YoY)
- Revenue up 30.9% at Rs 457 crore versus Rs 349 crore
- EBITDA at Rs 208.4 crore versus Rs 69.5 crore
- Margin at 45.6% versus 19.91%
- Net Profit up 120.1% at Rs 116.7 crore versus Rs 53 crore;
- To pay interim dividend of Rs 19/share
Waaree Renewable Q4 FY26 (Cons, YoY)
- Revenue at Rs 1,102.4 crore versus Rs 476.6 crore
- EBITDA up 63.7% at Rs 206.8 crore versus Rs 126.3 crore
- EBITDA margin at 18.76% versus 26.5%
- Net Profit up 66% at Rs 155.7 crore versus Rs 93.8 crore
Angel One Q4 FY26 (Cons, QoQ)
- Revenue up 9.3% at Rs 1,459 crore versus Rs 1,335 crore
- EBITDA up 13.1% at Rs 599 crore versus Rs 529 crore
- EBITDA margin at 41% versus 39.7%
- Net Profit up 19.2% at Rs 320 crore versus Rs 269 crore;
- To raise Rs 1,500 crore via NCD issue; increases borrowing limit to Rs 20,000 crore;
- To invest Rs 150 crore each in arms Angel Fincap and Angel One Wealth
Stocks In News
- Axis Bank: The bank will consider fundraising through equity and debt on April 25, as per an exchange filing.
- DCM Shriram: The company's arm enters into a joint venture named PolyTek with Teknor Apex to expand its polymer compounds business.
- DCB Bank: The bank's board will consider fundraising via debt and QIP on April 24.
- Hindustan Copper: The company clarifies there are no ongoing JV negotiations with Codelco and says media reports have no material impact.
- Pennar Industries: Bandhan Mutual Fund increases its shareholding in the company to 5.0469%, as per an exchange filing.
- VA Tech Wabag: The company clarifies it has no Rs.600 crore Saudi contract and awaits order award for a Kuwait desalination JV project.
- Isgec Heavy Engineering: The company signs an MoU with the Nigeria Sugar Council to provide technical support for sugar projects.
- Gravita India: The company increases its stake in Rashtriya Metal to 99.44% from 98.95%.
- Aditya Infotech: The company enters into a 50:50 joint venture with Orient Cables to manufacture LAN, CCTV and electric cables.
- RVNL: The company emerges as L1 bidder for a Rs.967 crore construction project of East Coast Railway.
- Samvardhana Motherson: The company dissolves its France‑based unit GIE Groupe AD following regulatory approval.
- M&M Financial Services: The company will consider increasing its borrowing limit at a board meeting on April 24.
- HDFC Bank: The bank approves investment of up to Rs.1,000 crore in HDFC Life, subject to RBI approval.
- Firstsource Solutions: The company announces the launch of its intelligence engine named Kairos.
- Kalyani Steels: Bal Mukand Maheshwari resigns as Chief Financial Officer of the company.
- PTC India: The company appoints Sukhdev Singh as Non‑Executive Chairman till November 2028.
- Rishabh Instruments: The company receives a Rs.30 crore order from a Germany‑based energy company.
- Rashi Peripherals: The Board approved incorporation of arm, and acquisition of 100% shareholding of RP Tech Electronics from the Promoters at for Rs. 1 lk and to investment upto Rs. 10 Crores.
- Motisons Jewellers: The company approves redemption of 50 lakh non‑convertible preference shares.
- Dodla Dairy: The company's arm HR Food is allotted 7.15 acres in Bihar to set up a new dairy processing plant.
- TVS Motor: The company increases its shareholding in DriveX Mobility to 92.4% from 87.4%.
- CESC: The company signs power purchase agreements for 600 MW of wind‑solar hybrid power with four hybrid power developers. This includes a 300 MW PPA with Purvah Green Power, with all PPAs having a tenure of 25 years.
- City Union Bank: The company opens four new branches across West Bengal, Andhra Pradesh, and Kerala.
- Associated Alcohols & Breweries: The company informs that NCLT Kochi has approved the resolution plan in respect of SDF Industries.
- R Systems: The company announces that NCLT Delhi has sanctioned the merger of Velotio and Scaleworx with R Systems.
- Mahanagar Gas: Shareholders approved appointment of Mr. Deepak Gupta as Chairman of
- the Company.
- Paytm: The company converts a loan of Rs. 197 crore into equity in First Games, increasing its stake to 82.6% from 55%. It also approves a default loss guarantee of up to Rs. 90 crore.
- DCX Systems: The company receives an order worth Rs. 9.3 crore for the supply of transmitter‑receiver modules.
- KPI Green Energy: The company receives an inter‑state power trading licence from the Central Electricity Regulatory Commission (CERC).
- Brookfield REIT (In Focus): The company launches a QIP to raise Rs. 2,000 crore. The indicative issue price is Rs. 323, representing a 2.1% discount to the current market price. The issue involves 61.9 million units, or about 8.3% of outstanding units, with proceeds to be used for debt repayment. Kotak Mahindra Capital, JM Financial, and Avendus Capital are bankers to the issue.
Listing
Om Power Transmission
Is a power transmission infrastructure engineering, procurement, and construction (EPC) company with over 14 years of experience. The issue is subscribed 3.32 times. The company's shares will debut on the stock exchange on Friday. The public issue was subscribed 3.32 times on day 3. The bids were led by non-institutional investors (7.06 times), QIBs at 3.65 times and retail at 1.54 times.
IPO Opening
Citius Transnet Investment Trust InvIT :
Infrastructure investment trust focused on the transport sector in India the portfolio covers a total of 3,406.71 lane-km across 9 states
The issue is entirely a fresh issue of 11.05 crore shares of Rs. 1,105.00 crore.
Raajmarg Infra Investment Trust: The Company acquires, operate, & maintain road infrastructure assets.
The Company's shares are set to open on 11th March 2026, with the IPO closing on 12th March 2026. Entirely a fresh issue of Rs. 6,000 crores. Price band set at Rs. 99 to Rs. 100 per share
Bulk & Block Deals
- M & B Engineering: Abu Dhabi Investment Authority sold 12.91 lakh share, 360 One Asset Management bought 12.66 lakh shares for Rs. 324.5 per share.
- Sudarshan Chemical Industries: Nippon India Mutual Fund bought 13.82 lakh shares, Rathi Anuj Narayandas, Rathi Rahul Pradeep, and Rathi Pradeep Ramwilas sold 7.86 lakh shares, Theleme India Master Fund bought 4 lakh shares for Rs 810 per share.
- Zee Entertainment Enterprises: Vanguard Intl Value Fund sold 49.58 lakh shares for Rs. 80 per share.
- Sudarshan Chemical Industries: Nippon India Mutual Fund bought, Rathi Anuj Narayandas sold 7.86 lakh shares for Rs. 810 per share.
Corporate Actions
Aurobindo Pharma - Buy Back
Pashupati Cotspin - Face Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share
Insider trade
Hinduja Global Solutions: Hinduja Group, Promoter, revokes pledge of 45 lakh shares
Camlin Fine Sciences: Ashish Subhash Dandekar, Promoter & Director, revokes a pledge of 8 lakh shares.
Additional Surveillance Measure (ASM)
List of securities shortlisted in Short - Term ASM Framework Stage: Puravankara, Simplex Infrastructures
List of securities to be excluded from ASM Framework: Suven Life Sciences
Price Band
Price Band change from 20% to 10%: : GALLANTT ISPAT, INDIABULLS
F&O Cues
Nifty Apr futures is down 0.21% to 24,186.30 at a discount of 10.45 points.
Nifty Options 21st Apr Expiry: Maximum Call open interest at 25, 000 and Maximum Put open interest at 23,000.
Securities in ban period: SAIL, SAMMAANCAP
Currency Check
The rupee strengthened by 10 paise to settle at 93.23 (provisional) against the US dollar on Thursday, following a decline in global crude oil prices amid hopes of a truce in West Asia.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
