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Informist, Thursday, Apr. 2, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Jefferies sees 4-5% cut in FY28 earnings estimates

 

MUMBAI--0840 IST--Jefferies expects a 4-5% cut in earnings estimates for 2027-28 (Apr-Mar) by March 2027, NDTV Profit posted on its 'X' account, quoting the global brokerage. However, a large cut for March 2028 is unlikely, the brokerage said.

 

The brokerage sees the Nifty 50 valuation as attractive at 17 times the 12-month forward price-to-earnings ratio. Jefferies set the target for the Nifty 50 at 25000 points as a base case. This would mean an upside of about 10% from current levels, NDTV Profit quoted Jefferies as saying. The brokerage will be bullish on the index if the current global conflict resolves and will set the target at 28000 points. However, in a bearish scenario, the target for the Nifty 50 would be at the 22400 level, the brokerage said. 

 

Jefferies was bullish on real estate and preferred a non-consensus buy for the sector. It has also raised its recommendation for pharmaceutical companies.  (Arundathi A R)

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Equity Alert: ATF-price-hike hit for IndiGo eased by govt steps, says Emkay

 

MUMBAI--0837 IST--The impact on InterGlobe Aviation of the hike in aviation turbine fuel prices by the oil marketing companies was moderated by the government's action, which limited the rate revision by only 25% on domestic airlines, Emkay Global Financial Services said. Indian Oil Corp. initially hiked ATF prices on domestic flights by 115% to INR 207 per litre on a monthly basis. The government limited this hike by 25% to INR 105 per litre to protect domestic passengers from high ticket fares, the brokerage said. 

 

However, Indian Oil Corp. hiked the prices on international flights by 107% to $1.7 per litre, Emkay added. The IndiGo operator has revised its fuel surcharge from Thursday, with domestic fare hike ranging from INR 275 to INR 950 for distances covering around 500 kilometres to 2,000 kilometres. "However, international fuel surcharge is hiked materially, from INR 425-INR 2,300 for the South Asia–Europe route to INR 900-INR 10,000," Emkay said. 

 

Based on the company's average stage length, the brokerage estimates a 20% rise in the revenue per available seat kilometre against a 50% rise in blended fuel cost, according to Emkay. The profit-before-tax spreads are improving from pre-conflict levels, which can offset the slowdown in passenger volumes and RPK, the brokerage said. Emkay has cut the earnings per share estimate for 2026–27 (Apr-Mar) and FY28 by 28% and 7%, respectively. The brokerage also trimmed that target price by 13% to INR 5,500. Emkay maintained a 'buy' call on the stock, saying that "Given Indigo's dominant position in India's aviation market and the past precedence of emerging stronger from a crisis situation and with leadership largely in place...".

 

The brokerage maintained a positive stance on the appointment of Willie Walsh as IndiGo's new chief executive officer. Walsh currently holds the position of Director General of International Air Transport Association. "We think this is a positive development, given Walsh's extensive exposure in large-scale aviation operations," the brokerage said. Willie Walsh's significant global industry experience is likely to be beneficial as IndiGo continues to focus on its international operations and expansion into newer business models, Emaky said.

 

On Wednesday, shares of the company ended 6% higher at INR 4,180.80 on the National Stock Exchange. Over the last seven days, the stock has fallen nearly 3% and, over the last 30 days, the stock shed nearly 8%.  (Adhithya Aji) 

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Equity Alert: Asian mkts fall after Trump indicates stronger attacks on Iran

 

MUMBAI--0836 IST--Asian markets fell sharply after US President Donald Trump threatened to intensify attacks on Iran over the next two-three weeks, even as he said the war was nearing its end. "We are going to bring them back to the stone ages, where they belong," Trump said.  

 

Mixed statements by Trump in his address jolted market sentiment, with Brent crude oil June futures rising almost 5% to nearly $106 per barrel. South Korea's Kospi fell 3.6% and Japan's Nikkei 225 was down 1.6?ter logging its strongest daily gain in almost a year on Wednesday. Hong Kong's Hang Seng index opened lower and extended its losses to fall over 1%.

 

Indices in South Korea fell sharply after inflation accelerated in March. Its consumer price index rose 2.2% on year in March after rising 2% in February, Dow Jones reported. However, the latest reading was below the estimate of 2.4% in a poll by The Wall Street Journal.

 

Following were the levels of major Asian indices at 0814 IST:

 

Index	Level	Change in %
CSI 300 Index	4504.7254	(-)0.47
Hang Seng Index	25041.72	(-)1.00
Nikkei 225 Day	52792.86	(-)1.76
TOPIX FIRST SECTION	3625.34	(-)1.24
KOSPI	5264.63	(-)3.91
FTSE Singapore Strait Times	4945.51	(-)0.61
S P/ ASX 200 INDEX	8606.4	(-)0.75

 

(Ruchira Kagita)

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Equity Alert: Indices may open lower as oil prices rise after Trump's comment

 

MUMBAI--0819 IST--Benchmark indices are expected to open lower as oil prices rose after US President Donald Trump in a televised address early Thursday said he expected the war with Iran to last another two to three weeks. Major equity indices across the Asia-Pacific and US stock futures slid after Trump's speech on the West Asia conflict. At 0814 IST, the June futures contract of Brent crude traded around $105 per barrel.   

 

"We will continue until our objectives are fully achieved. Thanks to the progress we've made, I can say we are on track to complete all of America's objectives shortly, very shortly," Trump said in a speech which many called an echo of his past statements. "We are going to hit them (Iran) extremely hard over the next two to three weeks. We are going to take them back to the stone ages," Trump said. "If during this period of time no deal is made, we have our eyes on key targets. If no deal is reached, we are going to hit every one of their electric generating plants very hard, and probably simultaneously," he added.

Trump also said allies who depend on the West Asia oil that transits through the Strait of Hormuz, which is effectively shut since the war, should "go to the strait and just take it, protect it, use it for yourselves." He also called for countries to buy US oil instead. Energy shipments from the Gulf region have largely come to a standstill after Iran retaliated against the US-Israeli strikes by threatening to attack vessels that try to cross the Strait of Hormuz, a critical trade waterway. 

Meanwhile, shortly after Trump concluded his remarks, in which he also claimed that Iran's military capabilities have been all-but crushed, the Israeli military said it detected Iranian missile launches, according to an Al Jazeera report. "Defensive systems are operating to intercept the threat," the Israeli military said. 

 

The Gift Nifty is indicating a gap down opening for the domestic markets, said Vipin Kumaar, senior technical and derivatives analyst at Globe Capital Market. "We continue to maintain our 'sell on rise' trading approach until some decisive de-escalation measures comes out in Middle East (West Asia) war. On levels front, 22800-23200 will continue to act as immediate resistance (for the Nifty 50 index). On the lower side, the 22000-21700 spot zone will act as immediate support.  (Arya S. Biju)

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Equity Alert: US futures dn 1% as Trump threatens to hit Iran "extremely hard"

 

MUMBAI--0747 IST--US equity futures fell nearly 1% from its intraday high as Brent crude crossed $105 per barrel again after US President Donald Trump threated to attack Iran's energy infrastructure if Iran did not strike a deal. In a speech, Trump said he would attack Iran "extremely hard" over the next two-three weeks. 

 

All major Wall Street indices were up Wednesday after Trump had signalled that the war with Iran might be nearing its end. The Dow Jones Industrial Average had closed higher for the third straight session, while the Nasdaq Composite and S&P 500 ended with gains for the second straight session.

 

The Nasdaq outperformed its peers to end nearly 1.2% higher Wednesday. Technology giants Alphabet, Tesla supported the index. Intel Corp ended almost 9% higher after the company said it would buy 49% stake in Apollo Global Management for $14.2 billion. Meanwhile, almost all key S&P 500 sectoral indices closed with gains, barring the energy-linked indices.

 

However, Trump's latest speech has hit sentiment and US futures suggest the market may open lower on Thursday. "Everybody's trying to guess as to what he (Donald Trump) really means by what he's saying. The markets want it to be positive, they want the war to be over," Thomas Martin, senior portfolio manager at Globalt Investments, told Reuters.

 

Following are the closing levels of US indices Wednesday:

 

Index	Level	Change in %
S&P 500	46565.74	0.48
NASDAQ Composite	21840.947	1.16
Dow Jones Industrial Average	6575.32	0.72

 

(Ruchira Kagita)

 

US$1 = INR 94.83

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Avishek Dutta

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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