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Informist, Friday, Apr. 10, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Most IT cos fall amid renewed concern over AI-led disruptions

 

MUMBAI--1042 IST--Most Information technology stocks, except Wipro, fell as fear over disruptions from advances in artificial intelligence returned to the forefront following a ‌recent update from US-based AI company Anthropic. The largely in-line March quarter earnings of sector bellwether, Tata Consultancy Services, also failed to lift the sentiment around these stocks.

 

Overnight, software-linked stocks in the US fell after Anthropic introduced a preview of its new model, Mythos, which is being positioned as a significant leap over earlier models such as Claude Opus on coding and security benchmarks. The model is positioned as highly advanced in identifying and fixing cybersecurity vulnerabilities, with capabilities that reportedly outperform both human experts and existing automated tools, Mint reported.

 

Domestic IT sector had been under pressure since the beginning of February amid rising concerns over AI-led disruptions in revenues of IT firms. Investors dumped the sector's stocks on worries that AI tools that are capable of automating human tasks could pose an existential threat to the industry. So far, the Nifty IT index has fallen nearly 26% from the peak it hit on Feb. 3.

 

Bucking the trend, shares of Wipro rose after the company said it will consider a buyback of equity shares for the first time in nearly three years. Global brokerage Morgan Stanley estimates a buyback of about $2 billion, or roughly 8.5% of the company's current market capitalisation, NDTV Profit reported citing the brokerage. It maintained an 'underweight' recommendation on the stock with a target price of INR 242 and said that a buyback had been anticipated by the market.

At 1016 IST, the Nifty IT index fell more than 2% to 30873.85 points and was the worst hit sectoral index. All constituents of the index barring Wipro traded in the red, down 1–3%. Infosys, Tata Consultancy Services, LTIMindtree, Mphasis, and Coforge were down around 3?ch and were the worst hit. 

 

Shares of TCS fell despite largely in-line March quarter earnings and mostly positive brokerage comments. While many brokerages raised their target price on the stock, the change was not material. Further, some brokerages also raised concerns over growth visibility and margins.  (Arya S. Biju)

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Equity Alert: Sun Pharma down 4% as likely Organon buy triggers debt concern

 

MUMBAI--1041 IST--Shares of Sun Pharmaceutical Industries fell to INR 1,643.60 amid reports that the company is in the final leg of acquiring US-based Organon & Co. for $12 billion. Analysts flagged concerns that Sun Pharma would have to assume Organon's debt of $8 billion, given the former has only $3.2 billion in cash. At 1040 IST, shares of the company were at INR 1,651, down 4%. 

 

Sun Pharma has completed over three months of due diligence and is finalising financing for the acquisition with global banks, including JP Morgan and MUFG, according to reports. Organon operates across women's health, biosimilars, and established brands, even as it faces competitive pressures and declining sales in key products. Organon was spun off from US pharmaceutical major Merck & Co in 2021. 

 

"Organon is facing competition in all the three segments," ICICI Direct said. "Prime facie, the target seems to be fraught with challenges. The only bright side, perhaps, would be a better margins profile. There might be something that Sun (Pharma)'s management might have identified in the target but it is difficult to comprehend at this juncture. We will keep track of the development."

 

In a conference call with analysts post the 2025 results, Organon's management had said it had lowered its dividend payout ratio and applied the excess funds towards debt reduction. "We also divested the JADA system, resulting in approximately $390 million in net proceeds that will help us to reduce net debt in 2026," Organon's executives told investors. (Gopika Balasubramanium)

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Equity Alert: Indices open higher post 1?ll Thu; war uncertainties linger

 

MUMBAI--0940 IST--After closing in the red in the previous session, domestic headline indices bounced back to open higher Friday. Most Asian indices also gained in early trade despite lingering uncertainty related to the war in West Asia. Crude oil prices continued their climb to near $100 per barrel. Most Nifty 50 constituents opened the session higher.

 

Overnight, major indices in the US closed higher after crude oil prices came off highs as Israeli Prime Minister Benjamin Netanyahu said his country had agreed to open direct negotiations with Lebanon. Iran's parliamentary speaker, Mohammad Bagher Ghalibaf, called Israel's continued attacks on Lebanon a violation of the ceasefire agreement. At 0942 IST, the June futures contract of Brent crude was marginally higher at $96.14 per barrel. 

 

The broader market outperformed the benchmarks, with all broader market indices up over 1%. India VIX indicated easing of nervousness among investors, falling over 5% to 19.3850. At 0943 IST, the Nifty 50 was up 0.7% at 23951.85 and the BSE Sensex was at 77187.78, up 0.7% or 556.13 points. 

 

Barring the Nifty IT, the Nifty Pharma, and the Nifty Healthcare, all sectoral indices were higher. The Nifty Media was the highest gainer among sectoral indices, up nearly 2%. The Nifty IT lost the most, down almost 2%.

 

Financial services stocks led the gains in the 50-stock index, with Shriram Finance trading 3% higher. Rating agencies ICRA and CRISIL have upgraded the company's long-term rating to 'AAA'. Axis Bank was the second-highest gainer among Nifty 50 stocks, up over 2%. Index heavyweight ICICI Bank was nearly 2% higher. State Bank of India, Bajaj Finserv, Jio Financial Services, and Bajaj Finance were the other banking and financial services stocks that gained in the Nifty 50 index.

 

Sun Pharmaceutical Industries was the key laggard in the index, down 2.6%. The stock fell amid media reports that the company was in the final stages of buying US-based pharmaceutical company Organon. Brokerage ICICI Direct pointed that buying the US pharmaceutical company would be an issue due to its high debt. The Sun Pharmaceutical stock lost the most in the Nifty 200, as well as the Nifty 500. 

 

Select information technology majors shed gains, with Infosys and Tata Consultancy Services down over 2%. TCS reported sharp sequential growth in its bottom line for the March quarter as its total expenses rose slower than the top line. The company's consolidated net profit rose almost 29% on quarter and over 12% on year to INR 137.18 billion. Its consolidated revenue for the quarter rose over 5% sequentially and nearly 10% on year to INR 706.98 billion.

 

Meanwhile, Wipro was the only one to gain among Nifty IT constituents, up over 1%. The company has considered a buyback of shares on Apr. 16.  (Arundathi A R)

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Equity Alert: Indices in Asia positive even as West Asia uncertainties loom

 

MUMBAI--0840 IST--Indices in Asia were largely positive in early trade Friday even as market participants wait for the fragile truce between the US and Iran to lead to lasting peace. Sentiment improved slightly after Israeli Prime Minister Benjamin Netanyahu said he would initiate direct talks with Lebanon as soon as possible. 

 

South Korea's benchmark index, Kospi, gained 2% to outperform its peer indices. The Bank of Korea kept interest rates unchanged at 2.5%. The central bank, however, flagged concerns about growth of the economy due to the war in West Asia. Inflationary and growth risks persist with high volatility in the financial and foreign exchange markets, the bank's monetary policy committee highlighted. The Bank of Korea trimmed its growth forecast for the full year due to disruptions stemming from hostilities in West Asia. "Accordingly, the growth rate for this year is expected to be below the February forecast of 2.0%. However, the future path of economic growth will be largely affected by developments in the Middle East," the monetary policy committee said in its statement. 

 

In Japan, the benchmark Nikkei 225 rose nearly 2% but the broader market index Topix oscillated between losses and gains. On the macroeconomic front, Japan's Producer Price Index rose 0.8% from the previous month and 2.6% on year in March. Gas and fuel prices contributed the most to this increase. Further, Japan plans to release 20 days worth of oil reserves from May to ensure adequate domestic supply, Reuters reported. Earlier, Japanese Prime Minister Sanae Takaichi had said the country had oil reserves that could last beyond the end of the year. 

 

The negative effects of the war were seen in China as well. China's Producer Price Index rose for the first time in 42 months to 0.5% on year. This was higher than Reuters' estimate of a 0.4% increase. The higher reading was due to a surge in prices in energy-intensive industries, Reuters said. The country's consumer price inflation grew 1% on year, compared to 1.3% rise in February. This was lower than Reuters' poll estimate of 1.2%. 

 

Following were the levels of major Asian indices at 0820 IST:

 

Index	Level	Change in %
CSI 300 Index	4629.3505	1.38
Hang Seng Index	25960.1	0.81
Nikkei 225 Day	56728.95	1.49
TOPIX FIRST SECTION	3739.99	(-)0.04
KOSPI	5887.52	1.9
FTSE Singapore Strait Times	4982.27	0.1
S&P/ASX 200 INDEX	8933.1	(-)0.45

 

(Ruchira Kagita)

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Equity Alert: Indices may open up after Thursday's fall; global cues mixed

 

MUMBAI--0816 IST--After falling around 1?ch in the previous session, benchmark equity indices are expected to open higher amid mixed global cues. Major equity indices across the Asia Pacific region opened higher, but gains were capped as investors sought further clarity on the durability of the US-Iran ceasefire and remained wary of Israel-Lebanon peace talks. The April futures contract of the GIFT Nifty signals a positive start for the headline Nifty 50 index.   

 

Overnight, major indices in the US closed higher after crude oil prices came off highs as Israeli Prime Minister Benjamin Netanyahu said his country has agreed to open direct negotiations with Lebanon. Iran's parliamentary speaker Mohammad Bagher Ghalibaf had called Israel's continued attacks on Lebanon a violation of the ceasefire agreement. After opening lower, US stock futures traded largely flat or with minor gains at 0729 IST.

 

Netanyahu's comment came after US President Donald Trump delivered a stern message to him in a phone call that a US official said was shorter than their usual regular talks, according to a report by The Wall Street Journal. Lebanese officials said they wanted talks that led to lasting peace but were first seeking an immediate pause in Israeli strikes that escalated in intensity after the US-Iran ceasefire was announced Wednesday, the report said. However, Netanyahu in a subsequent address to residents of northern Israel, said that "there is no ceasefire in Lebanon," according to a BBC report.

 

The Strait of Hormuz remained largely closed to shipping, with marine traffic at well below 10% of normal volumes on Thursday as Tehran asserted its control of the strategic waterway that typically carries a fifth of global oil and gas shipments. Regarding the Strait, Iran's supreme leader, Mojtaba Khamenei, said that his country would move towards a "new phase" without elaborating, media reports said, citing a statement read out on television. Meanwhile, Trump, in a post on Truth Social, said Iran was doing a "very poor job" of allowing oil to pass through the strait. "That is not the agreement we have."

 

On Thursday, the benchmark Nifty 50 index retraced back slightly following a sharp up-move in the previous trading session. This kind of retracement following a sharp rise is normal market behaviour, Vipin Kumaar, senior technical and derivatives analyst at Globe Capital Market said. "We are hopeful of a positive move up to 24350-24400 spot levels unless there is any fresh escalation in the Middle East," he said, adding that news driven volatility would take time to subside.

 

Shares of information technology companies will be in focus Friday after sector bellwether Tata Consultancy Services reported sharp sequential growth in its bottom line for the March quarter, as top line growth outpaced total expenses. However, the company's consolidated net profit of INR 137.18 billion was lower than the Street's view. Its consolidated revenue of INR 706.98 billion for the quarter, on the other hand, was better than the Street's expectation. Following the quarterly results, brokerages such as Nuvama Institutional Equities, Nomura and Emakay Global Financial Services raised their target prices for the stock by around 2-3%. (Arya S. Biju)

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Equity Alert: US mkts end muted Thu; investors await clarity on W Asia war

 

MUMBAI--0750 IST--Trade on Wall Street was muted on Thursday as market participants were cautious about how the war in West Asia would take shape going forward. Israel's Prime Minister Benjamin Nentanyahu said he will negotiate with Iran as soon as possible. Major indices on the Wall Street ended with marginal gains.  

 

"We do not want – I do not want – NATO to split. NATO is a guarantor of our security, including and above all in Europe," German Chancellor Friedrich Merz said, emphasising the need to reopen the Strait of Hormuz. He said the truce between the US and Iran is "fragile" and that Germany will resume direct talks with Tehran. Meanwhile, Brent Crude oil futures remained below the $100 per barrel mark. 

 

Macroeconomic data released Thursday also likely dampened sentiment. The advance estimate of US fourth quarter GDP was revised lower to 0.5%. This is significantly lower than the 4.4% recorded in the September quarter. "February prices were in line but income was weak and GDP was revised down again. That means stagflation was a little worse than expected even before the Iran war started," David Russell, the global head of market strategy at TradeStation told CNBC.  

 

Meanwhile, the US Federal Reserve's preferred inflation gauge, annual core personal consumption expenditure, which excludes volatile food and energy prices, remained sticky at 3% in February. The figure was in line with what economists had estimated. On an on-month basis, core inflation rose 0.4%, meeting expectations. Markets will keenly watch out for retail inflation data due Friday for a more comprehensive understanding of the impact of the US-Iran war on the US economy. 

 

Following are the closing levels of US indices Thursday:

 

Index	Level	Change in %
S&P 500	6824.66	0.62
NASDAQ Composite	22822.417	0.83
Dow Jones Industrial Average	48185.80	0.58

 

(Ruchira Kagita)

 

US$1 = INR 92.75

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

 

Edited by Deepshikha Bhardwaj

 

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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