More Stories

Informist, Monday, Apr. 27, 2026                                      Tel +91 (22) 6985-4000

Equity Alert: Nifty 50 seen rangebound to slightly up on US-Iran talk hopes

MUMBAI--1643 IST--The Nifty 50 is expected to remain rangebound with a positive bias in the coming sessions on hopes of US-Iran peace talks to end the West Asia war. The overall market trend has shifted to positive after the Nifty 50 snapped its three-day losing streak. On Monday, the Nifty 50 ended 0.8% higher at 24092.70 points. 

Support for the Nifty 50 is seen at 23900 points, while resistance will be around 24300–24350 points, according to Jatin Gedia, vice president, technical research at Teji Mandi Investments Technologies. The 50-stock index is expected to have a rally once it breaches 24670–24700 points level, Gedia said.

"A bullish candle on daily charts and a reversal formation on intraday charts indicate that a pullback formation is likely to continue in the near future," Shrikant Chouhan, head of equity research at Kotak Securities, said in a note. Chouhan estimates support for Nifty 50 at 23900–24000 and resistance at 24300 points.

Investors' sentiment improved on renewed prospects for the resumption of US-Iran talks along with better-than-expected March quarter earnings, according to Vinod Nair, head of research at Geojit Investments. "Inflation risks remain a key concern, and market participants are expected to closely monitor the upcoming Fed's policy announcement, particularly its medium-term interest rate trajectory," Nair said in a note.  (Adhithya Aji)

Equity Alert: Nifty 50 April ends at premium of 34.30 points to spot index

MUMBAI--1615 IST--The April futures contract of the Nifty 50 closed at a premium of 34.30 points to the spot index Monday. Open interest in the contract fell over 5% to 11.69 million, according to provisional data.

--Nifty 50 closed at 24092.70 points, up 194.75 points or 0.8% vs Friday

--Nifty 50 April closed at 24127 points, up 204.20 points or 0.9% vs Friday

Nifty 50 options, expiring Tuesday, with maximum change in open interest:

Call: 24100, Put: 24000

Nifty 50 options, expiring Tuesday, with maximum open interest:

Call: 25000, Put: 24000

(Gopika Balasubramanium)

Equity Alert: Domestic indices end higher tracking rise of Asian peers

MUMBAI--1550 IST--Domestic benchmark indices ended on a positive note Monday tracking gains in most Asian markets. This was despite proposed talks between the US and Iran not taking place and Brent crude oil price remaining above $108 per barrel. Pharmaceutical stocks were the biggest gainers of the day.

The Nifty 50 ended higher by 194.75 points or 0.8% at 24092.70 points, with more than half of its constituents ending higher. The BSE Sensex closed at 77303.63 points, up 639.42 points or 0.8%.

Sun Pharmaceutical Industries was the top gainer, ending nearly 7% higher. The stock gained after the company entered into an agreement to buy US-based company Organon. In a conference call on Monday, the company said it will leverage Organon's biosimilar portfolio and sees potential growth for the segment in India.

Shares of Jio Financial Services, Wipro, Tech Mahindra, Adani Ports and Special Economic Zone, Reliance Industries, and SBI Life Insurance Co. ended around 3% higher each. JSW Steel, Tata Consultancy Services, NTPC, HCL Technologies and Mahindra & Mahindra ended around 2% higher each.

On the other hand, Shriram Finance was the worst hit in the Nifty 50 and the Nifty 200. It ended nearly 4% lower. Citing the West Asia conflict and likely weak monsoon season, the company's management said it is cautious about the June quarter. Axis Bank followed with a fall of 3%. The bank reported a 1% fall in its March quarter net profit to INR 69.36 billion weighed down by higher provisions. Bharat Electronics was down 2%. Tata Consumer Products, Coal India, and Trent ended around 1% lower each.

All the sectoral indices ended in the green. Nifty Pharma ended nearly 3% higher and was the top performer. Sun Pharma contributed the most to its rise. All the broader market indices ended in the green territory as well. Nifty Smallcap indices ended around 2% higher each and the Nifty Midcap indices ended 1.5-1.6% higher.

Mahindra & Mahindra Financial Services, up nearly 8%, was the top Nifty 200 gainer. The financial services company reported a 55% on-year surge in its March quarter net profit to INR 8.73 billion. Shares of Hindustan Zinc ended nearly 7% higher. 

In the Nifty 500, Cohance Lifesciences was the top gainer. The stock hit the upper circuit of 20% at INR 432.10 after opening and remained locked at that level till the market closed. The stock rose after the company appointed Umang Vohra as the chairman and group chief executive officer. Vohra resigned as the managing director and chief executive officer of Cipla recently. Mangalore Refinery and Petrochemicals ended nearly 8% lower.  (Adhithya Aji)

Equity Alert: Markets in Europe flat, concerns of prolonged W Asia war weigh

MUMBAI--1434 IST--Most European indices opened flat Monday and oscillated between the green and red territory as market sentiment was weak after US President Donald Trump said over the weekend that US representatives will not be travelling to Pakistan to meet Iran officials for peace talks. Brent crude oil futures were also up almost 3% at $108 per barrel. Europe's STOXX 600 gained almost 0.5%.

Macroeconomic conditions in the Eurozone remain dull as the war in West Asia shows little signs of coming to an end soon. Short-term inflation expectations increased even as those for the medium term remained stable, the European Central Bank's Survey on the Access to Finance ‌of Enterprises revealed. Businesses also expected an increase in selling prices over the next 12 months while hopes of wage and employment growth were stable.

In Germany, consumer sentiment fell to its lowest level since February 2023 and expectations for May stood at (-)33.3 points against (-) 28.1 for April. For the ongoing month, the willingness to buy declined to (-)14.4 points, the lowest in two years. "Income expectations are literally collapsing because of rising inflation. And in this context, people also currently believe that the timing for major purchases is less favourable," Rolf Burkl, head of consumer climate at Nuremberg Institute for Market Decisions, said in the report.

The European Central Bank will announce its interest rate decision Thursday. The central bank is expected to maintain status quo in the meeting, but raise rates in its policy meeting in June, according to Reuters.

Following were the levels of major European indices at 1434 IST:

(Ruchira Kagita)

Equity Alert: India Cements up over 15%; co posts PAT Q4 against loss yr ago

MUMBAI--1445 IST--Shares of India Cements rose over 15% to INR 469.90, their highest price in over two months, after the company reported a net profit of INR 547.5 million for the March quarter compared with a net loss of INR 637.5 million in the year-ago quarter. This was despite a one-time cost of INR 204.9 million reported during the quarter linked to divestment of its stake in a subsidiary.

The company's revenue from operations for the reporting quarter rose 2.6% on year and over 10% sequentially to INR 12.29 billion, led by an increase in sales volume. During the quarter, the company achieved domestic sales of 3.12 million tonnes, up 18% on year. Its net cement realisation rose over 6% on year and more than 3% sequentially to INR 3,791 per tonne in the reporting quarter. 

The company's earnings before interest, taxes, depreciation, and amortisation for the quarter were INR 1.86 billion, up from INR 260 million in the year-ago quarter. The company plans to invest INR 20 billion as capital expenditure over the next two years for growth and efficiencies, it said in a post-earnings presentation. 

Of the three research reports on the company available with Informist, two have a 'sell' call on the stock and one a 'hold' recommendation. At 1443 IST, shares of India Cements traded over 9% higher at INR 445.90 on the National Stock Exchange and was among the top gainers on the Nifty 500 index (Arya S. Biju)

Equity Alert:  Indices in Asia end mixed; KOSPI outperforms peers

MUMBAI--1350 IST--Indices in Asia ended mixed Monday. A halt in peace talks between the US and Iran, and elevated Brent crude oil futures at nearly $108 per barrel did not faze markets in Japan and South Korea. The Nikkei 225 and the KOSPI hit fresh all-time-high levels and managed to largely sustain their gains. South Korea's benchmark index outperformed its peer indices to close with gains of almost 2.2%. Hong Kong's Hang Seng, the FTSE Singapore Strait Times, and Australia's S&P ASX 200 ended lower.
 

"Too much time wasted on traveling, too much work! Besides which, there is tremendous infighting and confusion within their ‘leadership,'" the US President Donald Trump wrote in a post on Truth Social on the peace talks with Iran.

Shares of Nvidia's chip ‌supplier SK Hynix, which is also a heavyweight in the KOSPI, rose more than 7% to a record high, Reuters reported. The stock's upward move was likely driven by positive sentiment from the rally in technology stocks on Wall Street Friday. Shares of the top index constituent, Samsung Electronics, gained 2.5%. In other news, Google DeepMind and the Republic of Korea's Ministry of Science and Information and Communications Technology inked a partnership to boost artificial intelligence developments in the South Asian country. Google will establish an AI Campus in the Republic of Korea.

Further, the Bank of Japan will announce its interest rate decision Tuesday and market participants will keenly await the central bank's commentary on the economic fallout from the war in West Asia. While some speculation floated around earlier suggesting a hike in interest rates, the Bank of Japan will likely keep rates steady at 0.75%. The Japanese yen witnessed significant pressure against the dollar since the war between the US and Iran broke out at the end of February.

Following were the levels of major Asian indices at 1347 IST:

(Ruchira Kagita)

Equity Alert: RIL up; brokerages maintain 'buy' rtg, some cut target price

MUMBAI--1315 IST—Shares of Reliance Industries rose with most brokerages being bullish on the stock, even as a few trimmed the target price. Brokerages cited comfortable valuations, near-term visibility of telecommunication tariff hikes, commissioning of new energy and petrochemical projects, and the upcoming initial public offering of Jio Platforms as rationale for their bullish stance. At 1307 IST, shares of the company were up 1.4% at INR 1,345.80 on the National Stock Exchange.

Reliance Industries' consolidated net profit for the March quarter fell short of analysts' expectations as its overall expenses jumped on higher cost of crude oil, freight, insurance, and fuel costs owing to the military conflict in West Asia that led to the closure of the Strait of Hormuz.  The company said its decision to keep retail fuel prices unchanged resulted in under-recoveries. The company reported a consolidated net profit of INR 169.71 billion on revenues of INR 2.99 trillion. 

Brokerages said the oil-to-chemical margins are underperforming peers, and the upstream oil and gas production division missing EBIDTA estimates due to higher costs are key negatives for the company, while some said the retail and fast-moving consumer goods business were some key positives in the quarter. The company's 20 gigawatts solar capacity target and a $3 billion green ammonia supply deal, is a significant value driver in the long term, several brokerages said.

Elara Capital upgraded the company's stock to "buy" from "accumulate", citing an 8% correction in the stock over the past six months as a good entry point. However, it slightly reduced its target price on the stock to INR 1,619 and reduced earnings estimates on the back of weak petrochemical margins and slow retail growth. The brokerage said there is a potential upside in refining margins once disruptions to the strait normalise.

Brokerage Nuvama Institutional Equities said the company faces near-term headwinds due to soft oil-to-chemicals business margin and muted retail traction, but the rapid scale-up of the new energy business was a key long-term driver. The brokerage maintained its "buy" recommendation on the stock with a target price of INR 1,765. However, it reduced its 2026-27 (Apr-Mar) earnings before interest, tax, depreciation, and amortisation estimate by 5%. 

Reliance's management expects around 4–5% on year average revenue per user growth, driven by customer upgrading and bundling of value-added services in the absence of a tariff hike. Brokerage Motilal Oswal Financial Services cut its FY27 revenue and EBITDA estimates by around 1–2% due to delays in the tariff hike and a rising share of machine-to-machine subscriptions in the revenue mix. The brokerage expects around a 15% or INR 50/month tariff hike in the September quarter. "Jio Platform's IPO is imminent, and its valuation is a key near-term factor to watch," the brokerage added. Motilal Oswal retained its "buy" call on the stock, but reduced its target price 3.5% to INR 1,655.

Brokerage Morgan Stanley has maintained its 'overweight' stance on Reliance Industries with a price target of INR 1,803, according to various media reports. The brokerage said that using the supply tightness in the energy and chemical market to its advantage and sustained recovery in the retail business revenue growth is key for Reliance to reverse its recent underperformance.  (Eshitva Prakash)

Equity Alert: Brokerages positive on Axis Bank post Jan-Mar results

MUMBAI--1250 IST--Brokerages maintained their positive outlook on Axis Bank after the lender reported its March quarter results. On the back of a recent pickup in business growth and healthy loan growth, most brokerages maintained their recommendations on the stock with revised target prices.

Brokerage HDFC Securities expects consistent improvement in deposit franchise quality along with improving asset quality metrics to be crucial to drive the lender's sustainable earnings, it said in a report. The brokerage has raised its earnings estimate for the bank by around 2% for 2026–27 (Apr-Mar) and FY28, taking higher growth and lower provisions into account. HDFC maintained its "add" recommendation with a revised target price of INR 1,490 against INR 1,480 earlier.

Nuvama Institutional Equities sees Axis Bank's loan growth and deposit growth momentum to sustain. It also expects the bank's net interest margin to remain largely stable and earnings to improve. The brokerage retained its "buy" recommendation on the stock with a revised target price of INR 1,600, up nearly 7%. Expectations of expansion in the June quarter, attractive valuations, and pickup in business growth are the reasons for Nirmal Bang Institutional Equities to retain its 'buy' call on the stock.

IDBI Capital also maintained its 'buy' call on Axis Bank with a 9% upside to target price at INR 1,600. The bank's net interest margin is expected at 3.8% and return on equity seen at 18%, with no near-term capital rise required, the brokerage said. "Loan mix is likely to remain stable at 70:30, while cost-to-assets improved by 18 bps (basis points) YoY (year-on-year) to 2.28%," according to a report by IDBI.

Brokerage Motilal Oswal has raised its FY27 and FY28 earnings estimates for Axis Bank by around 4% each. The return on assets and return on equity estimates were also raised to 1.6% and 14.6%, respectively. Motilal reiterated its 'neutral' recommendation on the stock with a target price of INR 1,475.

The bank posted a net profit of INR 70.71 billion in the March quarter, marginally lower on year but growing nearly 9% on quarter. The net profit beat the Street's estimate of INR 69.36 billion profit. The bank's provisions jumped to INR 35.22 billion, up from INR 13.59 billion a year ago and rising nearly 57% from a quarter ago. Its total income rose 2% on year to INR 387.47 billion.

At 1245 IST, shares of Axis Bank were over 3% lower at INR 1,318.40 on the NSE. So far in the day, 7.5 million shares of the company have changed hands on the exchange, higher than 1.7 million shares traded till the same time Friday.  (Arundathi A R)

Equity Alert: Cohance Life at 20% upper circuit; Umang Vohra to be group CEO

MUMBAI--1156 IST--Shares of Cohance Lifesciences hit the 20% upper circuit and a three-month high of INR 432.10 after the company announced a major managerial rejig. The company has appointed former Cipla chief Umang Vohra as executive chairman and the group chief executive officer for five years.

Vohra's appointment as executive chairman will be effective Friday, and he will later take charge as the group CEO from May 20. Vohra was the managing director and global CEO of Cipla for a decade. He stepped down from his position at Cipla on Mar. 31.

At Cohance Lifesciences, Vohra will succeed Vivek Sharma, who will step down from the role Thursday. Sharma will continue to serve as a special adviser to the company for nine months for a smooth transition of responsibilities. (Ruchira Kagita)

Equity Alert: M&M Financial rises 11% on strong Q4 PAT; brokerages positive

MUMBAI--1133 IST--Shares of Mahindra & Mahindra Financial Services rose over 11% to their highest level in a month after the company reported a strong set of earnings for the quarter ended March. The company's net profit for Jan-Mar beat Street's estimates. Most brokerages maintained their stance on the company.

M&M Financial Services' asset quality improved in the March quarter, and its credit costs fell. Both the gross and net non-performing asset ratios decreased in the period. Going forward, a re-rating on the financial company will depend on consistency and a stronger base of assets under management, Nuvama Institutional Equities said. The brokerage maintained its "hold" recommendation on the stock while revising its target price lower to INR 377 from INR 330.

The non-banking financial company's margin, fee income and asset quality are encouraging, brokerage Nomura said in a research report. However, risks for the vehicle financier from the hike in fuel prices, a tepid monsoon, and from the war in West Asia are likely to persist, the brokerage said.

The company also increased its provision coverage ratio to over 58% in the quarter gone by to account for macroeconomic headwinds. "...If headwinds pass and are not headwinds, we don't mind specifically releasing those provisions back," Raul Rebello, the managing director and chief executive officer at the company, said in call with analysts. Nomura cut its net profit estimates for M&M Financial by 1-3% over 2026-27 (Apr-Mar) and FY28 as it expects higher operating expenses and credit costs. The brokerage also slashed its target price on the company to INR 400 from INR 440 while maintaining a "buy" call. Nomura also said that the company's valuations are at a comfortable level.  

In the March quarter, keeping in mind potential risks from the West Asia war and weather-related shocks, the company made additional provisions of INR 2.17 billion during the March quarter to combat risks which could surface in the future. 

Meanwhile, Emkay Global Financial Services upgraded the stock to "add" from "reduce" and raised its target price to INR 340 from INR 280. The stock's valuations are not demanding and "and the risk-reward has turned favourable and superior on the back of improving profitability and better balance-sheet strength," the brokerage said. The company is well-positioned to combat challenges, Emkay Global said.

For the quarter ended March, M&M Financial reported a 55% on-year rise in its net profit. Its gross stage-3 asset ratio stood at 3.41% as of Mar. 31, lower than 3.80% at the end of December quarter. The company's net stage 3 asset ratio was 1.44% at the end of March, compared to 1.82% on Dec 31. At 1132 IST, shares of the company were trading 8% higher at INR 317.65. M&M Financial was also one of the top volume buzzers Monday as over 23 million shares of the company changed hands.  (Ruchira Kagita)

Equity Alert: Shriram Finance down 5%; mgmt cautious about June quarter

MUMBAI--1122 IST--Shriram Finance shares fell nearly 5% to an intraday low of INR 963.75 after the company's management said it is cautious about the June quarter citing the West Asia conflict and likely weak monsoon season.

The company's net profit for the March quarter was INR 30.14 billion, up nearly 20% on quarter and 41% on year. The bottom line was above the Street's view of INR 27.43 billion. A healthy growth in the assets under management and net interest income aided the company's earnings for the quarter.

"Asset quality witnessed some deterioration while the management remains concerned amid west Asia conflict and a weak monsoon which may translate into further slowdown and asset quality blip," Nirmal Bang Institutional Equities said. The financial services company gave a guidance of 18% growth in AUM for 2026-27 (Apr-Mar). "FY27 AUM growth target has been moderated from the initial 18% budget to a 15-18% range, implying an AUM addition of INR 400 billion-INR 450 billion on a INR 3 trillion base...," Nirmal Bang said.

However, Nirmal Bang remains positive on Shriram Finance on the back of strong benefits translating from MUFG deals and ratings upgrade, which would lower the cost of funds going ahead. The brokerage has maintained a 'buy' call on the stock and raised the target price nearly 2% to INR1,240. 

"Asset quality remains largely stable, but a shortfall in monsoon and the West Asia war remain key risks going ahead," Nuvama said. The brokerage is of the view that asset quality for the June quarter is likely to remain stable at current levels but below-average monsoon and prolonged geopolitical conflicts could lead to some stress in the second half of FY27. Nuvama has maintained a 'buy' recommendation on the stock with an unchanged target price of INR 1,300.

At 1119 IST, shares of the company traded over 3% lower at INR 977.50. The stock was among the worst hit in both the Nifty 50 and Nifty 200 indices. Nearly 8 million shares of the company have changed hands so far Monday, which is nearly four times the number of shares traded till the same time Friday.  (Adhithya Aji)

Equity Alert: One 97 Communications down 8% as payments bank arm to end ops

MUMBAI--1035 IST--Shares of One 97 Communications fell more than 8% to INR 1,051.10 early Mnday, after the company said its associate Paytm Payments Bank will wind up its operations after the Reserve Bank of India cancelled its banking licence on Friday. The central bank was to approach the high court this week for winding up the payments bank, as per media reports, but the latter decided to end its operations voluntarily. At 1029 IST, shares of One 97 Communications were down 3.3% at INR 1,109.35.

"We do not see any financial or operational impact on Paytm, as all commercial agreements with PPBL (Paytm Payments Bank Ltd.) were terminated and the equity investment was fully impaired by Mar-2024...," Emkay Global Financial Services said. "...the RBI's grant of the final Payment Aggregator license to Paytm in Nov-25 signals comfort with the listed entity's compliance posture," the brokerage said. While calling the licence cancellation a formality after a de facto closure, the brokerage has retained its buy recommendation on One 97 Communications for a target price of INR 1,500.

Out of the seven brokerage reports that Informist has on the company, six brokerages have a 'buy' or equivalent recommendation with an average target price of INR 1,612. The company had reported a consolidated net profit of INR 2.25 billion for the December quarter on revenues of INR 21.94 billion.  (Prateem Rohanekar)

Equity Alert: Axis Bank dn; Q4 PAT falls almost 1% YoY on higher provisions

MUMBAI--1022 IST--Shares of Axis Bank fell nearly 5% to the day's low of INR 1,299.90 after the company reported around 1% on-year fall in its net profit for the March quarter on higher provisions. The stock was down for the third straight session and has shed nearly 6% during this period.

Axis Bank reported INR 70.71 billion as its net profit for the March quarter, which was marginally lower on year, due to weak operating performance and a sharp rise in provisions on year. Its provisions were INR 35.22 billion in the reporting quarter, up from INR 13.59 billion in the year-ago quarter and nearly 57% higher than the trailing quarter.

At 1012 IST, shares of Axis Bank were trading more than 3% lower at INR 1,320.20 on the NSE. So far in the day, almost 5 million shares of the company have changed hands on the exchange, higher than over 620,000 shares traded till the same time Friday.

Of the 21 brokerage recommendations available with Informist on the company, 20 have a 'buy' call with an average target price of INR 1,423 and one has said to 'hold' the stock.  (Arundathi A R)

Equity Alert: Sun Pharma surges 8% as co to acquire US-based Organon

MUMBAI--1020 IST--Shares of Sun Pharmaceutical Industries rose nearly 8% to an intraday high of INR 1,742. The stock is up after the company said it has entered into a definitive agreement to acquire US-based healthcare company Organon. In a conference call on Monday, the company said it will leverage Organon's biosimilar portfolio and sees potential growth for the segment in India.

The company will acquire Organon for $14 per share in an all-cash transaction at an enterprise valuation of $11.75 billion. Sun Pharma expects to close the transaction by early 2027. The company plans to fund the acquisition through a combination of available cash resources and bank loans. The management said it is confident in accelerating the repayment of the debt that it avails to acquire Organon. The company is of the view that the acquisition of Organon will strengthen its innovative product portfolio.

At 1012 IST, shares of Sun Pharma were up over 7% at INR 1,736.10. Nearly 10 million shares of the company have changed hands on NSE, which is five times the number of shares traded till the same time Friday. The stock was the top gainer among the Nifty 50 and Nifty 200 constituents.  (Adhithya Aji)

Equity Alert: Canara Robeco up over 2% ahead of Q4 earnings

MUMBAI--1001 IST--Shares of Canara Robeco Asset Management Co. traded up over 2% at INR 279.25, ahead of the company's March quarter earnings Monday. The asset management company's net profit for the quarter is expected to decline 25% on quarter to INR 395 million, mainly due to a fall in yields, according to brokerage Prabhudas Lilladher Capital. Sequentially it is likely to fall 25%. 

The company is likely to report a revenue of INR 1.03 billion for the quarter, down over 6% quarter-on-quarter, it said. The average assets under management are likely to fall 3.9% from the trailing quarter. Operating expenses are likely to remain unchanged. "Yields may fall by 0.9bps (basis points) QoQ/4.2bps YoY (year-on-year) led by sharp equity market correction in March '26," Prabhudas Lilladher said. 

During the reporting quarter, Canara Robeco Asset Management had entered into a distribution agreement with Central Bank of India, under which ICICI Prudential Asset Management Co. Ltd. was also included to offer mutual fund products to bank customers.

Canara Robeco Asset Management primarily manages mutual funds and provides investment related services. The company was listed during the previous quarter at INR 280.25, at a premium of 5.4% to its issue price.

Two brokerages, whose reports on Canara Robeco are available with Informist, have a "buy" recommendation on the stock with an average target price of INR 338 per share, nearly 24% higher than the current market price.  (Durgesh Nandan)

Equity Alert: Domestic indices open higher tracking gains in global peers

MUMBAI--0947 IST--Benchmark indices opened higher tracking global cues with most of the Asian markets trading higher Monday. Crude oil prices, meanwhile, remained high – above $106 per barrel. Pharmaceutical companies were the major gainers in the indices. 

At 0945 IST, the Nifty 50 was at 24049 points, up 151.05 points or 0.6% and the BSE Sensex was at 77144.88 points, up 480.67 points or 6%. Only four constituents in the Nifty 50 traded lower.   

Sun Pharmaceutical Industries was the top gainer in the Nifty 50 after the company announced the acquisition of US-based Oraganon & Co. The company said it sees potential growth in the biosimilar segment in coming years post the acquisition. The shares of the pharma major traded over 7% higher. Adani Ports and Special Economic Zone, JSW Steel, Wipro, Kotak Mahindra Bank, Tata Steel, Infosys, and Mahindra & Mahindra rose around 2% each. 

In contrast, Axis Bank was the worst hit stock in the index. It fell nearly 4%. The bank reported a 1% fall in its March quarter net profit to INR 69.36 billion. The bottom line was weighed down by higher provisions for the quarter. Shares of Shriram Finance fell over 3%. Bharat Electronics was down 0.3% while shares of Bajaj Finance and Reliance Industries were marginally down.   

Reliance Industries' consolidated net profit fell 13% on year for the March quarter to INR 169.71 billion. This was below the analysts' view of INR 191.09 billion.

Mahindra & Mahindra Financial Services was the top gainer among the Nifty 200 constituents. The stock gained over 7% after the financial services company reported a 55% on-year surge in its March quarter net profit to INR 8.73 billion. Shares of IndusInd Bank rose nearly 4% after the bank reported a net profit of INR 5.33 billion for the March quarter. This was sharply above the street's view of INR 3.15 billion.

One 97 Communications was the worst hit stock in both the Nifty 200 and Nifty 500 indices. The stock shed nearly 8%. The company Saturday said Paytm Payments Bank will wind up its operations after the Reserve Bank of India cancelled its banking licence on Friday. 

In the Nifty 500, Cohance Lifesciences was the top gainer, hitting the upper circuit at INR 432.10, up nearly 20%. The company appointed Umang Vohra as the chairman and group chief executive officer. Vohra resigned as the managing director and chief executive officer of Cipla recently.  (Adhithya Aji)

Equity Alert: Indices to open higher as Asian mkts gain; crude prices key

MUMBAI--0825 IST--Domestic equity indices are expected to open higher, tracking gains in Asian equity indices. While crude oil prices are still higher, they eased slightly from the previous session's levels. Lack of clarity on US-Iran peace talks, however, remains an overhang on the market. US President Donald Trump said on Sunday that Iran could ‌reach out to the US if it wants to negotiate an end to the war between the two countries.

Asian equity indices showed a mixed performance in early trade, with most indices in the green. Barring the Dow Jones Industrial Average, the other two indices in the US ended Friday's session higher. The stock of Axis Bank will be in focus after the bank detailed its March quarter earnings Saturday.

Trump cancelled a planned visit to Pakistan by his envoys Steve Witkoff and Jared Kushner, who had been expected to explore indirect talks with Iran. "If they want to talk, all they have to do is call!" Trump said on his social media platform Truth Social on Saturday.  

At 0820 IST, the June futures contract of Brent crude traded 1.3% higher at $106.70 a barrel. Oil prices climbed back to over $100 per barrel level last week. Analysts expect the rise in Brent crude prices to continue until a clear resolution emerged out of the potential US-Iran peace talks. 

Friday, the Nifty 50 closed 1.1% lower at 23897.95. The BSE Sensex ended 1.3% lower at 76664.21. GIFT Nifty futures indicated a higher opening for the spot market. At 0813 IST, the April futures contract of GIFT Nifty was at 24143, up 21.50 points or 0.1%. It was over 240 points higher than the Nifty 50's previous close. Analysts expect the 50-stock index to face resistance at 24200 points and find support at 23800 points.

Axis Bank Saturday posted a net profit of INR 70.71 billion in the March quarter, marginally lower on year but growing nearly 9% on quarter. The net profit beat the Street's estimate of INR 69.36 billion. The bank's provisions jumped to INR 35.22 billion, up from INR 13.59 billion a year ago and rising nearly 57% from a quarter ago.  (Arundathi A R)

Equity Alert: Most indices in Asia up; Nikkei 225, KOSPI hit record highs

MUMBAI--0815 IST--Most indices in Asia were higher and sentiment likely gained support from the rally in technology stocks on Wall Street Friday. Japan's Nikkei 225 and South Korea's KOSPI touched new all-time-high levels early Monday. The indices were up despite peace talks between the US and Iran stalling and Brent crude oil futures hovering near $107 per barrel.

Over the weekend, US President Donald Trump said the trip of US representatives Steve Witkoff and Jared Kushner to Pakistan's capital city to meet Iran officials for a peace deal stood cancelled. "Too much time wasted on traveling, too much work! Besides which, there is tremendous infighting and confusion within their 'leadership,'" Trump wrote in a post on Truth Social. He also said that the Iranians only have to make a phone call to discuss the peace deal. 

On the macroeconomic front, China's industrial profits jumped 15.8% on year in March despite global supply chain disruptions due to the war in West Asia. This was the highest increase in industrial profits since September. The growth was driven by equipment and high-tech manufacturing sectors, CNBC reported. At 0811 IST, China's benchmark CSI 300 index was up 0.37%.

Hong Kong's Hang Seng opened in the green but later began oscillating between gains and losses. In South Korea, the KOSPI continued to extend gains, up around 1.3% from its opening level. Gains by heavyweight SK Hynix supported the index as the stock was up nearly 6%. The FTSE Singapore Strait Times and the S&P ASX 200 indices were lower.

Following were the levels of major Asian indices at 0819 IST:

(Ruchira Kagita)

Equity Alert: Winning week for NASDAQ, S&P 50; hopes of peace in W Asia aid

MUMBAI--0735 IST—Barring the Dow Jones Industrial Average, the NASDAQ Composite and the S&P 500 posted gains for the fourth consecutive week Friday. Market participants' concerns about the war in West Asia prolonging for long were alleviated slightly as the US President Donald Trump extended the ceasefire with Iran, and declared the extension of the truce between Israel and Lebanon.

However, US futures ticked slightly downwards after Trump cancelled US representatives' trip to Pakistan to discuss the contours of a concrete peace deal with Iran. "Too much time wasted on traveling, too much work! Besides which, there is tremendous infighting and confusion within their ‘leadership,'" Trump said in a post on social media. "Nobody knows who is in charge, including them. Also, we have all the cards, they have none! If they want to talk, all they have to do is call!!!," Trump added. At 0723 IST, the E-Mini Dow Futures were down 0.1-0.2%. Brent crude oil futures jumped to $107 per barrel, up almost 2%.

Meanwhile on Friday, the S&P 500 and the NASDAQ hit fresh highs intraday. The S&P 500 rose almost 1% to a high of 7168.590 points and the technology-heavy NASDAQ climbed 1.7% to a record high of 24854.04 points. The blue-chip Dow Jones, however, fell on the last trading session of the week.

Five of the magnificent seven stocks are set to report their earnings for the quarter ended March. Microsoft, Alphabet, Amazon, Meta Platforms, and Apple will be releasing their earnings. "These companies have a lot to prove, and for their stock prices to move higher, they're really going to have to wow investors on the earnings front," Anthony Saglimbene, chief market strategist at Ameriprise, told Reuters. The Federal Open Market Committee decision on interest rates is due Wednesday and the committee is expected to maintain status quo. This could also be the current chair Jerome Powell's final meeting before he retires in May. Investors will keep an eye out for the Federal Reserve's commentary. 

Following are the closing levels of US indices on Friday:

(Ruchira Kagita)

US$1 = INR 94.19

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

Edited by Tanima Banerjee

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.