Equity Alert
Cipla down as US FDA issues import alert on Lanreotide supplier
This story was originally published at 13:25 IST on 24 April 2026
Register to read our real-time news.Informist, Friday, Apr. 24, 2026 Tel +91 (22) 6985-4000
Equity Alert: Cipla falls as US FDA issues import alert on Lanreotide supplier
MUMBAI--1310 IST--Shares of Cipla fell as much as 4% to INR 1,254.10 on the NSE after the US Food and Drug Administration Thursday issued an import alert on Pharmathen's manufacturing facility in Rodopi in Greece, which is its Lanreotide injection supplier. Under Import Alert 66-40, the regulator can halt shipment without physical examination from facilities that fail to comply with current Good Manufacturing Practices.
Lanreotide is used in tumour-related issues and it is among Cipla's top three products in the US market and holds a market share of around 22% in its segment. Cipla had already flagged potential supply disruptions for the product and its management said supply challenges could continue into the first half of 2026-27 (Apr-Mar). The company had also cut its FY26 margin guidance by 175 basis points to 300 bps, citing issues related to Lanreotide supply.
In November, the US FDA had issued nine observations after inspecting the Rodopi facility and flagged concerns around microbiological controls, aseptic processing, data lapses, and deficiencies in standard operating procedures. In February, the US FDA classified the facility as official action indicated. The import alert means that the facility must complete corrective action and pass a re-inspection before exports can resume.
At 1250 IST, shares of Cipla were off their intraday lows and traded 0.3% lower at INR 1,301 on the NSE. Of the 12 brokerage reports available with Informist on the stock, eight have a 'buy' recommendation with an average target price of INR 1,560 and three have a 'sell' recommendation. One brokerage has a 'hold' recommendation. (Eshitva Prakash)
Equity Alert: IDBI Bk shrs up 8%; Sitharaman says divestment in bk to go on
MUMBAI--1305 IST--Shares of IDIBI Bank rose as much as 8% to a one-month high of INR 79.90 after Finance Minister Nirmala Sitharam said the government will go on with the divestment of its stake in the bank. She was speaking on the sidelines of the inauguration of State Bank of India's Pune office.
The Finance Minister said the cause of delay in the stake sale had been publicly announced earlier. "We will still go on (with the divestment)," Sitharaman said. The government aims to sell its 30.48% stake and Life Insurance Corp. of India's 30.24% stake in the bank. Earlier, Informist had reported that the government may seek revised financial bids from two shortlisted potential buyers for the divestment.
At 1303 IST, shares of IDBI Bank were trading 2.6% higher at INR 75.65. Nearly 36 million shares of the company changed on the bourse, which is 14 times higher than the number of shares traded till the same time Thursday. (Adhithya Aji)
Equity Alert: LTM falls 6?ter Q4 earnings; brokerages maintain stance
MUMBAI--1258 IST--LTM fell nearly 6.5% to the day's low of INR 4,240 after the company's earnings for the March quarter missed analysts' estimates on some parameters. The company's revenue and earnings before interest and tax margin missed estimates. The information technology major's top line growth was mainly driven by its technology, health, and consumer business segments. However, sales from its banking, financial, services, and insurance business fell.
The 5.5% sequential decline in the company's BFSI vertical in constant currency terms can be attributed to a productivity pass-through in top clients, according to brokerages. Excluding top clients, this business is growing at a healthy pace, ICICI Securities said in a report. Notwithstanding, brokerages do not expect the ramp-up of this segment to be fast-paced. Further, concerns around the evolution of artificial intelligence-driven deflationary pressure continue for the IT services sector.
LTM's EBIT margin missed most estimates. Margin expansion could be restricted to 50 basis points in the next few years due to pricing pressure and high competition, Motilal Oswal Financial Services said. The brokerage has trimmed its earnings per share expectations by 3% for 2026-27 (Apr-Mar) and FY28. However, it has maintained its "buy" call on the stock.
Citigroup Inc. has maintained a "sell" call on the stock and lowered its target price to INR 3,850 from INR 3,945, and said that the company's valuation is still lofty. The brokerage has also cut its earnings per share estimate for FY27 and FY28 by 1–4%.
On the other hand, Nomura and Nuvama Institutional Equities said LTM is on a path to recover its margin. In the March quarter, the margin dip was likely due to salary hikes given to employees and this is unlikely to continue beyond the quarter ending June, Nomura said in its report. Compared to large-cap IT peers, LTM is currently trading at 21 times its FY27 price-to-earnings multiple, and this is likely to continue, Nuvama said in its research report.
Adjusting for the exceptional expense of INR 622 million but considering the actual tax outgo in the March quarter, LTM's net profit was over INR 14 billion. The company's revenue was INR 112.31 billion. At 1248 IST, LTM shares were down nearly 6% at INR 4,272, with 688,467 shares changing hands on NSE. (Ruchira Kagita)
Equity Alert: HSBC downgrades Indian equities to underweight on oil price rise
MUMBAI--1205 IST--HSBC has downgraded Indian equities to 'underweight' from 'neutral', as potential inflation and demand pressures are likely to pose a threat to the durability of India's earnings recovery. This marks the second downgrade of Indian equities in less than a month. According to the global brokerage, India looks less attractive than its North East Asian markets under the current macroeconomic environment.
India's considerable reliance on imported energy highlights the potential downside risks to growth in the backdrop of the ongoing West Asia conflict, the brokerage said in a report. HSBC expects growth recovery to be delayed, even though some signs of improvement were seen in the previous two quarters.
The brokerage expects oil and gas markets to remain tight through most of the September and December quarters, which shows energy prices will remain elevated in the upcoming months. Retail petrol and diesel prices are expected to be revised higher, most likely in early May, after the conclusion of ongoing state assembly elections. The brokerage said a 20% rise in crude oil prices could reduce earnings growth by about 1.5 percentage points. "We expect consensus to notably cut its growth expectations in the coming months from the current 16% y-o-y (year-on-year) for FY27 (2026-27(Apr-Mar)," it said in the report.
Despite moderation from their recent highs, valuations can again be seen as expensive if earnings estimates are trimmed. "Without the anticipated cyclical acceleration in growth, valuations are likely to remain a constraint," the brokerage said.
Foreign investor sentiment remains cautious as a sharp depreciation in the rupee against the dollar weighs on their returns, HSBC said. The rupee is likely to face pressure of depreciation if oil prices remain high. The increased focus of investors on potential implications of artificial intelligence, particularly for software services, is expected to limit foreign inflows, according to the brokerage. (Arundathi A R)
Equity Alert: Indices extend losses; IT, pharma cos major laggards
MUMBAI--1150 IST--Benchmark indices fell further with less than 15 constituents in the Nifty 50 trading in the green. The 50-stock index slipped below the 24000 level, dragged down by the stocks of information technology and pharmaceutical majors, while select automobile companies were among the key gainers in the index.
At 1107 IST, the Nifty 50 was down 1% at 23943.20, while the BSE Sensex fell 1.1% to 76803.35. Shares of Infosys fell further, trading 5% lower, and remained the worst-hit stock in the Nifty 50 index. Other IT peers also extended their losses, with Tech Mahindra, Tata Consultancy Services, and HCL Technologies shedding 2–3%. Pharmaceutical majors Cipla, Dr. Reddy's Laboratories, and Sun Pharmaceutical Industries, which were the top gainers on Thursday, traded 1–3% lower.
Shares of Coal India traded 1% higher and remained the top performer in the 50-stock index, while automobile stocks Eicher Motors and Bajaj Auto rose 0.3% and 0.7%, respectively. While index heavyweight HDFC Bank extended its gains and rose marginally, its peer ICICI Bank remained 1% lower.
Broader market indices tracked the losses in their headline peers, with both Nifty small-cap and Nifty mid-cap indices falling around 1?ch. All sectoral indices were also in the red, with the Nifty IT being the worst performer, falling nearly 4%. Shares of LTM shed over 5% and was the biggest laggard in the sectoral index. The stock was also the worst performer in the Nifty 200 index. Despite reporting a 43% sequential jump in its bottom line to INR 13.92 billion, the highest growth in 15 quarters, the company missed the Street's estimate of INR 14.14 billion for its Jan-Mar net profit.
Shares of Cochin Shipyard rose nearly 5% and were the highest gainer in the Nifty 200, followed by those of Housing & Urban Development Corp., which gained 3%. Both stocks were among the highest gainers in the Nifty 500 index as well, trailing Himadri Speciality Chemical which gained around 8% and was the top-performing stock in the index. UTI Asset Management Co. was the major laggard in the index after the company reported a 73% on-year and sequential fall in its net profit which came at INR 337.20 million. Mark-to-market losses took the company's bottom line to its lowest level in 5 years. (Shruti Nair)
Equity Alert: RIL, Shriram Finance down 1?ch ahead of Q4 earnings
MUMBAI--1147 IST--Nifty 50 companies Reliance Industries and Shriram Finance will announce their March quarter earnings later in the day. Their shares were down around 1% ahead of the results. Reliance Industries fell nearly 1% to an intraday low of INR 1,345.90 while Shriram Finance fell over 1% to an intraday low of INR 992.10.
Reliance Industries is expected to report an on-year drop in its consolidated net profit due to global developments that affected the company's operations. The consolidated net profit is pegged at INR 191 billion, down nearly 2% on year. The top line is seen at INR 2.8 trillion, up over 8% on year.
Shriram Finance's net profit is expected to rise due to healthy growth in net interest income and assets under management. The bottom of line is estimated at INR 27.43 billion, up 23% on year. The net interest income of the company is expected to rise 24% on year to INR 69.05 billion.
At 1147 IST, shares of Reliance Industries were down 0.6% at INR 1,334.90 and those of Shriram Finance down 1.3% at INR 996.15. (Adhithya Aji)
Equity Alert: Dr Reddy's off lows; co awaits nod for semaglutide in Canada
MUMBAI--1040 IST--Dr. Reddy's Laboratories came off lows after opening nearly 3% lower Friday after the company confirmed in an exchange filing that it is awaiting approval for its semaglutide injection from Canada's healthcare authority. Shares of Dr. Reddy's had soared more than 9% Thursday after CNBC-TV18 reported, citing sources, that the company is awaiting approval for semaglutide in Canada. The approval would be a positive for the pharmaceutical major, but the stock movement was overstated, brokerage Citigroup Inc. said in a research report.
Citi sees the company earning $80 million-$100 million from semaglutide sales in the three-player market, including itself, Sandoz Group, and Apotex. In FY28, the brokerage estimates semaglutide sales for the company to be around $50 million in a six-player market. Teva Pharmaceutical Industries, Sun Pharma, and Aspen Pharmacare Holdings filed for approvals for their generic semaglutide drugs, the brokerage noted.
Citi maintains a "sell" recommendation on the stock with a target price of INR 1,070. At 1032 IST, Dr. Reddy's was 1.6% lower at INR 1,309.50 on the NSE and over 2 million shares of the company were traded. Over 16 million shares of Dr. Reddy's changed hands in the full trading session Thursday. (Ruchira Kagita)
Equity Alert: Infosys falls to over-five-year low on weak Jan-Mar earnings
MUMBAI--1020 IST--Shares of information technology bellwether Infosys fell more than 4% to an over-five-year low of INR 1,196. Post market hours Thursday, the company reported its consolidated net profit rose nearly 28% sequentially to INR 85.01 billion for March quarter, surpassing analysts' view of INR 75.56 billion. Revenue rose 2% to INR 464.02 billion, slightly missing the Street's view of INR 465.79 billion. In constant currency terms, revenue fell 1.3%, sharply lower than the Street's view of a decline of 0.1-1.0%.
The company expects the operating margin to increase 20–22% for financial year 2026-27 (Apr-Mar). The IT giant expects its revenue to grow 1.5-3.5%. The company's guidance for the period falls on the lower end of the Street's view. The guidance includes 0.8-1.0% lower revenue from a large European manufacturing client where Infosys has chosen not to pursue a deal due to lower profitability, Nomura said.
Most of the brokerages were positive on Infosys' long-term view, with them maintaining a "buy" call on the stock. Brokerages expect Infosys to gain traction on artificial intelligence-related services and new order wins. JM Financial has preferred Infosys among the top six Indian IT companies given its large deal wins. The brokerage maintained a 'buy' call on the stock and trimmed its target price nearly 2% to INR 1,500.
At 1019 IST, shares of Infosys were trading more than 4% lower at INR 1,187.30 on the National Stock Exchange, making it the worst hit stock among the Nifty 50 constituents. The stock was down for the third consecutive session and shed nearly 10% during the period. Nearly 13 million shares of the company changed hands on the bourse so far Friday, which is nearly four times higher than the number of shares traded till the same time Thursday. (Adhithya Aji)
Equity Alert: Waaree Energies, Premier Energies fall 5% on US dumping duties
MUMBAI--1017 IST--Shares of Waaree Energies and Premier Energies fell as much as 5?ch after the US Commerce Department Thursday announced preliminary anti-dumping duties on solar cells and panels imported from India, Indonesia, and Laos. The officials supported domestic solar factory owners who faced the issue of these countries dumping cheap goods in the US market. Just after opening lower, Waaree Energies came off lows while Premier Energies turned positive.
The agency calculated preliminary duty rates, known as dumping margins, of 123% for imports from India, 35.2% for imports from Indonesia, and 22.5% for imports from Laos, Reuters cited the Commerce Department as saying. The three nations last year accounted for $4.5 billion in US solar imports, about two-thirds of the total, the report cited government trade data. This decision is to help domestic producers in the US market.
"The preliminary determinations confirm that producers in these countries are dumping solar cells and modules into the US market at unfairly low prices, undercutting American-made products and distorting market competition at a pivotal moment for the domestic manufacturing sector," Reuters quoted Alliance for American Solar Manufacturing and Trade as saying in a statement.
The Commerce Department will announce a final decision on or around Jul. 13 for solar cells from India and Indonesia, and a decision for imports from Laos on or around Sept. 9, according to the Reuters' report. The agency had also announced preliminary countervailing duties on the three countries in February, it said.
At 1009 IST, shares of Waaree Energies were trading 2.8% lower at INR 3,318.70 and those of Premier Energies were up 1% at INR 1,010.50 on the NSE. So far Friday, over 1 million shares of both the companies have changed hands on the bourse, compared to over 600,000 and 500,000 shares, respectively, traded during the same time Thursday. (Simran Rede)
Equity Alert: JP Morgan turns 'neutral' on Indian shrs, trims Nifty 50 target
MUMBAI--1000 IST--Global brokerage JP Morgan has downgraded its recommendation for Indian equities to 'neutral' from 'overweight', CNBC-TV18 reported. The brokerage has also cut its target on the Nifty 50 index across scenarios of bull, bear, and base cases. Elevated valuations compared to emerging market peers, earnings risks, concerns of dilution, and limited exposure to next-generation technology are the reasons cited by the brokerage for the downgrade, CNBC-TV18 said.
JP Morgan has cut the 50-stock index's bull case target to 30000, down 9% from the earlier target. For the base case, the brokerage has cut the target to 27000 from 30000. The index's bear case aim was trimmed to 20500 from 24000.
"Overall, we see better opportunities elsewhere in emerging markets, until valuations de-rate further or earnings visibility improves," CNBC reported quoting the brokerage. According to Rajiv Batra, head of Asia and co-head of Global Emerging Markets Equity Strategy at JP Morgan, India's premium to the MSCI emerging markets has compressed to 65% from 109%, reflecting some of the re-rating, he said in a note. However, peers like Korea, Brazil, and China still offer cheaper entry points than India for similar or better growth, he said.
Sector analysts at JP Morgan cut their earnings growth estimates for financial year 2027 by 2-10?ross key sectors. Consequently, they have lowered their MSCI India earnings-per-share growth for 2026 and 2027 by 2% and 1%, respectively, bringing them to 11% and 13%, according to the report. Batra of JP Morgan added, "Large domestic inflows have cushioned a record $37 billion FPI (foreign portfolio investment) exodus, but a $64 billion pipeline in the form of IPOs (initial public offering) and QIPs (qualified institutional placement), along with promoter sales, are diluting existing holders and capping upside, which is a stark contrast to the US, where buybacks persistently retire equity."
The large-cap index has minimal exposure to artificial intelligence, data center and semiconductor representation than the US, Korea, China, and Taiwan. Subdued monsoon is also said to be an added risk to their outlook, the brokerage said. (Arundathi A R)
Equity Alert: Indices open slightly lower as oil above $106/bbl; IT cos weigh
MUMBAI--0941 IST--Benchmark indices opened slightly lower amid uncertainty over US-Iran peace talks and as Brent crude oil prices remained above $106 per barrel. Information technology companies were the major laggards.
At 0940 IST, the Nifty 50 was at 23998.85 points, down 174.20 points or 0.7%, and the BSE Sensex was at 77013.83 points, down 650.17 points or 0.8%. Coal India was the top gainer in the Nifty 50, rising 1%. Shares of Nestle India, Grasim Industries, State Bank of India, Jio Financial Services, and HDFC Life Insurance Co. rose around 1?ch.
Infosys was the worst-hit stock in the index. The IT major fell nearly 3% after reporting its March quarter earnings post market hours Thursday. The company reported a consolidated net profit of INR 85.01 billion, up 27.8% sequentially, which was above the analysts' estimate of INR 75.56 billion. Revenue of the company rose 2% to INR 464.02 billion, slightly missing the Street's view of INR 465.79 billion. In constant currency terms, the revenue of the company fell 1.3%, sharply lower than the Street's view of 0.1-1.0?cline.
Shares of Infosys' peers Tata Consultancy Services, HCL Technologies, Tech Mahindra, and Wipro fell 1-2%. Pharmaceutical companies Cipla and Sun Pharmaceutical Industries fell around 1?ch as well. Adani Enterprises, Eternal, Bharti Airtel, Bharat Electronics, and Power Grid Corp. of India were also down around 1?ch. The heavyweight banking stocks ICICI Bank and HDFC Bank fell around 1?ch as well.
In the Nifty 200 index, Housing and Urban Development Corp. was the top gainer. The stock rose nearly 4%. Shares of Cochin Shipyard rose nearly 2%. Adani Energy Solutions was the worst-hit stock in both the Nifty 200 and Nifty 500 indices. It fell nearly 6%.
In the Nifty 500, Himadri Speciality Chemicals was the top gainer, rising over 12%. The company's consolidated net profit for the March quarter rose 29% on year to INR 2.01 billion. Inventurus Knowledge Solutions rose nearly 8?ter the company said that its US-based subsidiary, Inventurus Knowledge Solutions Inc., will acquire TruBridge for a total consideration of $565 million. (Adhithya Aji)
Equity Alert: Escalating tensions in Strait of Hormuz keep Asian mkts jittery
MUMBAI--0828 IST--Most markets in Asia fell in early trade Friday as the military standoff between the US and Iran continued near the Strait of Hormuz, and Brent Crude oil futures remained above $106 per barrel, up almost 5% from Thursday's lows of around $102 a barrel. US President Donald Trump announced that the ceasefire between Israel and Lebanon has been extended by three more weeks, but market participants remained cautious.
Japan's consumer inflation rose 1.5% on year in March, slightly higher than the 1.3% rise in February. Core inflation, which excludes food prices, rose 1.8% on year. This was in line with what Reuters has pencilled in but higher than the 1.6% rise seen in February. "The BoJ (Bank of Japan) is likely to focus on the former, placing weight on rising inflation expectations, while the government, viewing the economic slowdown from deteriorating terms of trade as a risk, would focus on the latter," CNBC quoted a note from Credit Agricole Corporate and Investment Bank. Inflation, however, remains below the Bank of Japan's target of 2%.
Meanwhile, DowJones Newswires reported that South Korea's exports are likely to be driven by semiconductors in April, citing Citigroup analysts. The country's outbound chip shipments may rise 46.3% on year and imports are likely to rise 12.9% on year in April, the media agency reported. This would mean that South Korea's trade surplus will be $24.8 billion. South Korea's benchmark index KOSPI fell during early hours of trade after hitting fresh all-time-highs for three consecutive days.
Following were the levels of major Asian indices at 0819 IST:
|
Index |
Level |
Change in % |
| CSI 300 Index | 4757.9135 | (-)0.59 |
| Hang Seng Index | 25740.97 | (-)0.67 |
| Nikkei 225 Day | 59327.84 | 0.32 |
| TOPIX FIRST SECTION | 3711.51 | (-)0.13 |
| KOSPI | 6452.23 | (-)0.36 |
| FTSE Singapore Strait Times | 4906.87 | (-)0.75 |
| S&P/ASX 200 INDEX | 8755.90 | (-)0.43 |
(Ruchira Kagita)
Equity Alert: Seen range bound Fri; crude oil price, Infosys key factors
MUMBAI--0825 IST--Domestic headline indices are likely to move in a range Friday due to geopolitical concerns and rise in Brent crude oil prices, analysts say. The price of crude oil is currently above $105 a barrel. Uncertainty around US-Iran peace talks and the continued blockade of the Strait of Hormuz remain as an overhang on the market sentiment. The corporate results of Reliance Industries and Shriram Finance, due later in the day, will be keenly watched by investors. Infosys will also be a key focus, as it detailed its March quarter results post market hours Thursday.
The April futures contract of Gift Nifty suggests the Nifty 50 will move in a range. At 0822 IST, the contract was up 0.4% at 24209, more than 35 points higher than the 50-stock index's previous close of 24173.05. At 0823 IST, the June futures contract of Brent crude was trading nearly 1% higher at $105.94 per barrel. The crude oil price is above the $100-a-barrel mark for the third straight day.
"An upside can be seen in the market if the Nifty 50 crosses 24350 level. Till that level, a rangebound movement is expected," Rupak De, senior technical analyst at LKP Securities, said. He expects the Nifty 50 to find support at 24150.
In the latest development, US President Donald Trump announced a three-week ceasefire extension between Israel and Lebanon. He said a White House meeting between the Israeli and Lebanese delegations "went very well," Al Jazeera reported. Abbas Araghchi, Iran's foreign minister, said that Iran's state institutions are continuing "to act with unity, purpose and discipline", saying this reflects "the failure of Israel's terrorist killings" during the war. According to a CNBC report, Trump has ordered the US military to "shoot and kill" any Iranian boats laying mines in the strait, adding that the US would intensify its efforts to clear mines that have helped choke off global shipping.
Information technology major Infosys posted a nearly 28% on-quarter rise in its consolidated net profit for the March quarter to INR 85.01 billion. This was way above analysts' estimate of INR 75.56 billion. Its consolidated revenue rose 2% sequentially to INR 464.02 billion, slightly below the consensus view of INR 465.79 billion. Infosys reported a sharper-than-expected sequential decline in Jan-Mar revenue in constant currency terms, falling 1.3%.
Nuvama Institutional Equities has maintained its 'buy' recommendation on Infosys and kept its target price unchanged at INR 1,650. The brokerage has raised its 2026-27 (Apr-Mar) earnings-per-share estimate for the company by 3% and FY28 estimate by 1%. It sees Infosys' FY27 growth recover on easing of macro concerns and when generative-artificial intelligence reaches inflection point. Emkay Global Financial Services has also retained its 'buy' call on Infosys and kept its target price unchanged at INR 1,450.
However, Nirmal Bang Securities has cut its target price on Infosys by 8.7% to INR 1,610, while maintaining its 'buy' recommendation. It sees the company continue with its AI-led investments. The brokerage expects large and mega deals to limit Infosys' margin expansion. Nirmal Bang also expects the company's revenue growth to be stronger in the first half of FY27 than the second half.
Reliance Industries is expected to report an on-year fall of nearly 2% in consolidated net profit to nearly INR 191 billion for the March quarter. The company's top line is expected to be INR 2.8 trillion, up over 8% on year. Shriram Finance is expected to post a 28% on-year rise in its net profit to INR 27.43 billion for the March quarter. Its bottom line is expected to rise sharply on year on healthy growth in net interest income and assets under management.
In the global market, Asian indices showed a mixed trend, with most in the red. Hong Kong's Hang Seng Index was the worst performer among the pack. In the US, all the three indices settled lower Thursday. (Arundathi A R)
Equity Alert: US indices fall Thursday; fears around peace in West Asia weigh
MUMBAI--0740 IST--US indices ended lower Thursday even as concerns about a positive outcome from likely peace talks between the US and Iran, and Israel and Lebanon continued to dampen sentiment. US President Donald Trump said Israel and Lebanon would extend their ceasefire for another three weeks, but this announcement failed to enthuse market participants. Fears surrounding the military impasse in the Strait of Hormuz continued to cast a shadow.
"I have ordered the United States Navy to shoot and kill any boat, small boats though they may be (Their naval ships are ALL, 159 of them, at the bottom of the sea!), that is putting mines in the waters of the Strait of Hormuz," Trump said in a post on social media. Brent crude oil futures remained high above $100 per barrel.
On Wall Street, some stocks were in focus because of earnings for the quarter ended March. Lockheed Martin fell almost 5?ter the company's revenue missed analysts' expectations to be flat on year at $18.0 billion. The defence giant's net earnings declined to $1.5 billion from $1.71 billion a year ago. Shares of Tesla fell nearly 4?ter the company's revenue for the March quarter missed the consensus forecast. The revenue came in at $22.39 billion, lower than the anticipated $22.64 billion, CNBC reported.
In other news, the S&P Global US Flash Purchasing Managers' Index showed business activity in the US rebounded in April, but only slightly. The composite output rose to a three-month high of 52.0 in April from 50.3 in March. The growth in manufacturing was better than in services. The rate of expansion in services was the second-weakest in the past year as demand cooled, the report said. "There was better news from manufacturing, but here an expansion of output and orders could be partly traced to the building of safety stocks," Chris Williamson, the chief business economist at S&P Global Market Intelligence, said in the report.
Further, the number of people filing for fresh unemployment claims rose 6,000 to 214,000 in the week ended Apr. 18. The Wall Street Journal was expecting this figure to be at 210,000, but the data is not alarming.
Following are the closing levels of US indices on Thursday:
| US Indices | Levels | Change in % |
| Dow Jones Industrial Average | 49310.32 | (-)0.36 |
| NASDAQ Composite | 24438.504 | (-)0.89 |
| S&P 500 | 7108.40 | (-)0.41 |
(Ruchira Kagita)
US$1 = INR 94.24
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Akul Nishant Akhoury
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.
NSE: National Stock Exchange
NYSE: New York Stock Exchange
NYMEX: New York Mercantile Exchange
SEBI: Securities and Exchange Board of India
RBI: Reserve Bank of India
Internet links:
Securities and Exchange Board of India - http://www.sebi.gov.in
Bombay Stock Exchange - http://www.bseindia.com
National Stock Exchange of India - http://www.nseindia.com
Directory of Indian government websites - http://goidirectory.nic.in
Indian Ministry of Finance - http://www.finmin.nic.in
Reserve Bank of India - http://rbi.org.in
Controller General of Accounts, Government of India - http://www.cga.nic.in
Government's Press Information Bureau - http://www.pib.nic.in
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2026. All rights reserved.
To read more please subscribe
Share this Story:
