Equity Alert
Capital Small Finance Bank up 4% ahead of March qtr earnings
This story was originally published at 12:08 IST on 29 April 2026
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Equity Alert: Capital Small Finance Bank up 4% ahead of March qtr earnings
MUMBAI--1141 IST--Shares of Capital Small Finance Bank rose around 4% to a two-month high of INR 274.40 ahead of the bank's March quarter earnings announcement later in the day. The bank's net profit for the quarter is seen rising on year as well as sequentially, supported by strong loan growth and lower credit costs. At 1124 IST, the stock was up 3.7% at INR 273.99 on the National Stock Exchange.
Net interest income for the March quarter is expected to rise to INR 1.24 billion, up over 20% on year and nearly 4% sequentially, while net profit is seen at INR 394 million, up over 15% on year as well as on quarter, according to Equirus Securities Pvt. Ltd.
According to the brokerage, loan growth is expected to rise both on year and sequentially on the back of growth in disbursement. "Loan growth is expected at (approximately) ~21% yoy (year-on-year)/ ~6.5% qoq (quarter-on-quarter), supported by (approximately) ~20% growth in disbursements," it said. The bank's deposit growth is likely to be around 20% on year, as per the brokerage's pre-earnings report, while net interest margin is expected to remain flattish at 4.2% on a sequential basis, and credit costs are expected to decline sequentially, it said.
Only one brokerage report on Capital Small Finance Bank was available with Informist. It has a "buy" recommendation on the stock with a target price of INR 460, nearly 68% higher than the current market price. For the December quarter, the bank had reported a net profit of INR 344.1 million and a total income of INR 2.98 billion. (Shumaila Firoz)
Equity Alert: Jana Small Finance Bank down 3% ahead of Jan-Mar earnings
MUMBAI--1141 IST--Shares of Jana Small Finance Bank fell nearly 3% to an intraday low INR 501 ahead of its March quarter earnings Wednesday. At 1141 IST, the shares were down 2.6% at INR 478.50.
ICICI Securities, the only brokerage with estimates for Jana Small Finance Bank, expects it to report a net profit of INR 1.28 billion, up over 3% on year. Net interest income is seen at INR 6.80 billion, up nearly 14% on year and up nearly 1% on quarter.
The small finance bank's gross advances are expected to rise 20% on year to INR 354.90 billion, while deposits are seen growing 23% on year to INR 357.57 billion, according to the brokerage firm. ICICI Securities expects the lender's net interest margin to contract by 40 basis points on year to 8.3%. For the quarter ended March, the credit cost is expected to decline 41 bps on year to 2.0% and 141 bps sequentially.
ICICI Securities has a 'buy' recommendation on the stock with target price of INR 480, over 2% higher than the current market price. For the December quarter, the bank had reported a net profit of INR 96.94 million and a total income of INR 16.29 billion. (Shumaila Firoz)
Equity Alert: Eternal off highs after rising 5% in early trade to 2-mo high
MUMBAI--1125 IST--Shares of Eternal came off highs after rising nearly 5% to a two-month high of INR 265.40 soon after open. The stock rose after the food delivery and quick commerce company, just before the market close Tuesday, reported an over four-fold on-year rise in its consolidated net profit and a near three-time jump in its net sales for the March quarter. While brokerages maintained a positive stance on the stock post the earnings announcement, some of them slashed target price and earnings estimates factoring in higher competition in the quick commerce space.
At 1058 IST, shares of Eternal traded over 1% higher at INR 256.34. So far in the day, around 108 million shares of the company have changed hands on the National Stock Exchange, around 4.5 times the near 24 million shares traded till the same time Tuesday.
The parent company of Zomato reported a consolidated net profit of INR 1.74 billion for the reporting quarter, up 346% on year and 70.6% on quarter. Its consolidated revenue for the quarter jumped over 196% on year and 6% sequentially to INR 172.92 billion. While the bottom line for the quarter surpassed the Street's estimate, its revenue lagged expectations.
The sharp rise in both revenue and net profit was primarily led by growth in the company's quick commerce vertical, Blinkit, followed by its food delivery business. Going forward, analysts flag higher competition in the quick commerce space which could lead to market share loss, higher costs, and a slowdown in consumption as the major risks for the company's earnings. (Arya S. Biju)
Equity Alert: Fino Payments Bank rises over 3% ahead of Q4 results
MUMBAI--1122 IST--Shares of Fino Payments Bank rose over 3% to an intraday high of INR 138.95 ahead of its March quarter earnings scheduled later in the day. The payments bank is expected to report a sharp year-on-year fall in the net profit for the March quarter, Emkay Global Financial Services, which has an 'add' recommendation on the stock, said in a preview report. At 1103 IST, shares of Fino Payments Bank traded at INR 136.16, up 2%.
The bank's net profit is expected to be INR 130 million, down nearly 46% on year but up over 6% on quarter, according to Emkay. The payments bank's net interest income is expected at INR 363 million, up above 35% on year and over 8% sequentially. During the reporting quarter, Fino Payments Bank's deposits rose to an all-time high of over INR 29.50 billion and disbursement rose 96% sequentially to around INR 6 billion, according to provisional data released by the bank earlier this month. The payments bank also reported its highest-ever quarterly renewal income of INR 622 million.
The bank's earnings before interest, tax, depreciation, and amortisation are expected at INR 182 million, down nearly 39% on year but up over 4% on quarter. The bank's total customer base was around 17.5 million at the end of the March quarter after it added around 700,000 new bank accounts, during the quarter.
For the December quarter, the payments bank's net profit was INR 122.5 million on total income of INR 3.94 billion. Shares of the bank have fallen nearly 36% since its December quarter results were announced. Emkay has a target price of INR 330 for the stock, which is more than double its current price. (Durgesh Nandan)
Equity Alert: Brokerages slash target price of Eternal post Q4 earnings
MUMBAI--1120 IST--Brokerages have slashed their target price for Eternal after the company announced its March quarter results Tuesday. Eternal's bottom line grew four-fold and beat estimates by analysts. However, the company's revenue missed the Street's estimate.
Nuvama has cut its target price for Eternal by 11.6% to INR 380 and maintained its 'buy' call on the stock. However, the brokerage has cut its estimates for the company's earnings before interest, tax, depreciation, and amortisation for 2026-27 (Apr-Mar) by 9.8% and for FY28 by 10.5% due to higher competition in quick commerce. "We continue to value the Food delivery business at 40x adjusted EBITDA and quick commerce at 50x adjusted EBITDA," the brokerage said in its report.
Nomura has cut its target price for Eternal by 10.5% to INR 340 due to lower profitability in the quick commerce business for an extended period. Zomato's medium- to long-term target of 20% growth in net order value rests on modest market share gains and improved affordability to customers, the brokerage said. The brokerage has estimated an 18% on-year growth in the company's net order value. The brokerage has lowered its net order estimates for Blinkit by 15% for FY27 and FY28 despite Blinkit staying away from irrational growth and focusing on assortment expansion, geographic expansion and increasing demand density.
"Eternal expects USD1bn ($1 billion) adj EBITDA in the consumer business (FD, QC and District) by FY29E (2028-29(Apr-Mar) (lower than our estimates and Bloomberg consensus). We think disciplined execution and focus on profitability can help the company achieve its target," the brokerage said in its report.
Citi has cut its target price for Eternal by 10% to INR 360 after the management revised its guidance to add near-term wiggle room, NDTV Profit posted on its X account, quoting the brokerage. Eternal will solidify first-mover advantage as it expands to tier-2 and tier-3 cities. The brokerage remains positive on Eternal's structural advantages, saying that they are unlikely to be threatened by customer discounts. (Prateem Rohanekar)
Equity Alert: Indices rise further; Nifty 50 inches towards 24300 mark
MUMBAI--1119 IST--Headline equity indices extended their gains as the Nifty 50 index inched closer to the 24300 level. Among the top gainers were stocks of automobile companies, select information technology companies and fast-moving consumer goods players. Less than 10 stocks in the Nifty 50 traded in the red, of which select metal companies remained the major laggards.
At 1059 IST, the Nifty 50 index was at 24284, climbing 1.2%, while its peer BSE Sensex was at 77836.18, up 1.2%. Shares of Maruti Suzuki was 4% higher and remained the top gainer in the Nifty 50 and Nifty 200 indices. The stock's peers, Eicher Motors and Mahindra & Mahindra, trailed its gains, rising 2% and 3%, respectively. Information technology stocks Tech Mahindra and Infosys were also among top gainers, rising 3% and 2%, respectively. Dr. Reddy's Laboratories became the worst-hit stock in the Nifty 50, as other laggards pared some of their earlier losses. Earlier in the day, the pharmaceutical company said it had received approval from Health Canada for its generic semaglutide injection.
Sectoral indices broadly mirrored the trend seen in the 50-stock index, with the Nifty Auto outperforming its peers by a wide margin, gaining over 2%. The Nifty IT and Nifty FMCG indices were also among the top gainers, rising over 1?ch. The Nifty Metal index came off its earlier lows and rose marginally, though it remained the lowest-gaining sectoral index. The index was weighed down by shares of Jindal Steel and National Aluminium Co., which were down nearly 2?ch and were also among the worst-performing stocks in the Nifty 200 index.
REC shed 3% and continued to be the worst-hit stock in the Nifty 200 index. State-owned REC on Tuesday has reported a fall in its net profit for the March quarter, the first time in 14 quarters and the sharpest in six years. While shares of Bandhan Bank rose nearly 12?ter strong March quarter earnings, and were the top performer in the Nifty 500 index, shares of Cohance Lifesciences shed over 4% and the stock was a major laggard in the index. (Shruti Nair)
Equity Alert: Brokerages retain 'buy' on Maruti Suzuki after steady Q4 show
MUMBAI--1040 IST--Brokerages retained their "buy" call on the Maruti Suzuki India stock after the company reported a steady set of earnings for the quarter ended March. The automaker's revenue beat estimates even as net profit fell for the first time in the last fourt quarters, but brokerages remained positive on the company's growth trajectory on the back of healthy volume expectations. The management predicted 10% on-year growth in passenger vehicle sales volumes in 2026-27 (Apr-Mar). Shares of the company rose 5% to an intraday high of INR 13,537.
New products, sustained growth in its sport utility vehicles and compressed natural gas vehicles, and higher exports should support growth for the company, Nuvama Institutional Equities said in report. Maruti's range of products is also seen expanding by FY28. New launches and recovery in demand for its hatchback should aid the company over FY26 and FY31, the brokerage said. Maruti's earnings before interest, tax, depreciation and amortisation for the quarter ended March came in below estimates, but this was largely due to commodity inflation triggered by the war in West Asia, Nuvama noted. The brokerage retained its "buy" call with an unchanged target price of INR 15,800.
Citing higher commodity prices, brokerage Citigroup Inc. was also cautious on the automobile company's margins. Demand momentum, however, is robust and domestic volumes are seen rising, it said in a report. The brokerage increased its volume estimates for the company by 2% over FY27 and FY28 but lowered its expectations for earnings before interest and taxes by 0-4%. The brokerage maintained its "buy" recommendation and raised its target price on the stock slightly to INR 18,500 from INR 18,200 earlier.
Even as pressure from commodity inflation persisted, there is room for the company's average selling prices going up, primarily because of its higher-end models and electric vehicle mix, Emkay Global Financial Services said in its research report. Maruti aims to gain market share in the passenger vehicles segment owing to a healthy pipeline, the broking firm noted. Emkay Global kept its earnings per share estimates for FY27 and FY28 unchanged for Maruti, and also held on to its target price of INR 16,200, while maintaining its "buy" recommendation.
JM Financial Institutional Securities sees Maruti's volumes growing 10% on year in FY27 and 7.8% in FY28. "Strong growth in exports is likely to be driven by eVitara and continued success of Jimny and Fronx," the brokerage said in its report. JM Financial maintained its "buy" stance on the stock and revised its target price to INR 16,570 from INR 16,350.
For the March quarter, Maruti Suzuki reported a net profit of INR 35.91 billion, down almost 7% on year and below analysts' expectations. Its revenue grew 28% on year to INR 524.49 billion. At 1115 IST, shares of the company were almost 5% higher at INR 13,480 on the NSE.(Ruchira Kagita)
Equity Alert: IIFL Finance up over 3% ahead of Jan-Mar earnings
MUMBAI--1045 IST--Shares of IIFL Finance rose over 3% to an intraday high of INR 453.30, ahead of the company's March quarter earnings Wednesday. The lender's consolidated net profit for the quarter is expected to surge over 157% on year and nearly 10% on quarter to INR 5.34 billion, mainly due to growth in its assets under management, according to brokerage Motilal Oswal Financial Services Ltd. At 1043 IST, shares of the company traded nearly 3% higher at INR 449.50.
The company is likely to report a consolidated net interest income of INR 16.63 billion for the March quarter, up nearly 27% on year and over 5% on quarter, according to the estimate available with Informist. The assets under management are likely to grow nearly 37% on year to INR 1.07 trillion, Motilal Oswal said in a report. The brokerage expects IIFL Finance's credit costs to decline nearly 50 basis points on quarter to nearly 2.1%. Investors will closely monitor its outlook on the gold loan business, loan growth, and margins, the brokerage said.
Two brokerages, whose reports on IIFL Finance are available with Informist, have a 'buy' recommendation on the stock with an average target price of INR 678 per share, nearly 51% higher than the current market price. (Diksha Tripathy)
Equity Alert: Maruti Suzuki up 5%; brokerages see India demand for co robust
MUMBAI--1039 IST--Shares of Maruti Suzuki India rose 5% to an intraday high of INR 13,530. The company's management said it expects passenger vehicle sales in India to rise 10% in 2026-27 (Apr-Mar). Brokerages are also of the view that the domestic demand environment for the company remains robust despite macroeconomic challenges.
The company detailed its March quarter earnings Tuesday. The automaker's net profit for the quarter declined 7% on year to INR 35.91 billion. It was below the Street's expectations of INR 40.65 billion. The company's revenue rose by over 28% on year to INR 524.49 billion, above the Street's expectation of INR 514.52 billion.
A robust 61% on-year growth in export volume boosted the top line of Maruti Suzuki, said Nirmal Bang Institutional Equities. The brokerage said that over the medium term, Maruti Suzuki remains structurally well positioned supported by its dominant domestic passenger vehicle presence, recovery in demand for small cars post goods and services tax cut, and robust sport utility vehicles-led launch pipeline.
"While the near-term outlook remains cautiously optimistic, with retail demand holding up despite the West Asia situation, risks could emerge from sustained increases in fuel, energy, and freight costs if geopolitical tensions persist," Nirmal Bang said. The brokerage has maintained a 'buy' call on the stock with a target price of INR 14,894.
JM Financial expects demand traction in the domestic market to sustain for Maruti Suzuki. The brokerage has maintained its 'buy' recommendation on the stock and raised the target price over 1% to INR 16,570.
At 1039 IST, shares of Maruti Suzuki were up 4.6% at INR 13,481. The stock was the top gainer among the Nifty 50 constituents. Over 351,000 shares of the company have changed hands so far Wednesday on the NSE, over four times higher than the number of shares traded till the same time Tuesday. (Adhithya Aji)
Equity Alert: Indices open higher despite high crude oil prices; auto cos up
MUMBAI--0947 IST--Benchmark indices opened higher despite crude oil prices staying above $110 per barrel. The delay in US-Iran peace talks and the continued closure of the Strait of Hormuz failed to weigh on market sentiment. Automobile companies were the biggest gainers.
At 0943 IST, the Nifty 50 was at 24126.20, up 130.50 points or 0.5%. The BSE Sensex was at 77305.25 points, up 418.34 points or 0.5%. Maruti Suzuki India rose over 4% and was the top Nifty 50 gainer. The company said it expects its India passenger vehicle sales to rise 10% in 2026-27 (Apr-Mar). ITC rose nearly 3%. Automobile companies Eicher Motors, Tata Motors Passenger Vehicles, Bajaj Auto, and Mahindra & Mahindra rose 1-2%.
Metal stocks JSW Steel and Tata Steel were the worst hit among the Nifty 50 constituents. They were down around 1?ch. NTPC, Asian Paints, Bajaj Finance, and Bajaj Finserv were down 0.3-0.6%.
Maruti Suzuki was the top gainer among the Nifty 200 constituents as well. Ship making companies Mazagon Dock Shipbuilders and Cochin Shipyard rose nearly 4% and 3%, respectively. REC was the worst hit stock in both the Nifty 200 and Nifty 500 indices. The company's net profit for the March quarter fell nearly 21% on year to INR 33.62 billion.
Garden Reach Shipbuilders & Engineers rose over 15% in the Nifty 500. Bandhan Bank gained over 9?ter its March quarter net profit surged 68% on year to INR 5.34 billion. This was sharply above analysts' estimate of INR 3.99 billion. (Adhithya Aji)
Equity Alert: Indices seen rangebound; crude prices, US-Iran talks to weigh
MUMBAI--0850 IST--Headline indices are likely to move in a range Wednesday amid uncertainty over global developments. Crude oil prices staying above $110 a barrel, delay in US-Iran peace talks, and closure of the Strait of Hormuz continue to weigh on market sentiment. Corporate earnings for the March quarter could lead to stock-specific action. At 0821 IST, the June futures contract of Brent crude was trading 0.5% lower at $110.74 per barrel.
The US is still engaging with Iran in negotiations and will "not be rushed into making a bad deal," Al Jazeera reported quoting Anna Kelly, White House spokeswoman. In another development, the United Arab Emirates announced its decision to leave Organization of the Petroleum Exporting Countries and OPEC+ to focus on "national interests", dealing a heavy blow to the oil-exporting groups.
At 0850 IST, the May contract of Gift Nifty was 0.1% higher at 24111, which is over 110 points higher than the Nifty 50's previous close of 23995.70.
The March quarter results of Bajaj Finance are scheduled to be announced later in the day. The company's net interest income for Jan-Mar is estimated at INR 122.80 billion, up 25% on year. Its net profit is estimated at INR 54.40 billion, up over 21%, supported by robust growth in interest income and assets under management and signs of moderation in credit costs.
In the global equity market, Asian indices showed a mixed performance with most of them in the red. Singapore's FTSE Singapore Strait Times and Taiwan's Taiex were the worst performers, losing 0.5?ch. All the US indices settled lower Tuesday, with S&P 500 and Nasdaq Composite closing lower after two sessions. The Dow Jones Industrial Average closed lower for the fourth session in a row. (Arundathi A R)
Equity Alert: Asian markets jittery; UAE move to leave OPEC raises concerns
MUMBAI--0820 IST--Asian indices were muted Wednesday as market participants were jittery after the United Arab Emirates said it will leave the Organization of the Petroleum Exporting Countries after 60 years of participation from May 1. Brent crude oil futures hovered above $110 per barrel, and concerns about the war in West Asia prolonging capped gains in equities.
"With the UAE leaving, Opec loses about 15% of its capacity and one of its most compliant members," Saul Kavonic, head of energy research at MST Financial, told BBC.
Meanwhile, the Hang Seng index defied the broader market sentiment to be up over 1%. South Korea's benchmark KOSPI was marginally lower as heavyweights Samsung Electronics Co., SK Hynix, LG Energy Solution, and Hyundai Motor Co. fell almost 1?ch.
On the macroeconomic front, Australia's inflation jumped to 4.6% in the year to March, from 3.7% in February. This is the steepest rise in the country's inflation in two years and it was driven higher by high energy prices. The case for the Reserve Bank of Australia hiking its interest rates next week has strengthened after this higher-than-expected inflation print. Australia's benchmark S&P ASX 200 was down 0.2%.
Following were the levels of major Asian indices at 0818 IST:
|
Index |
Level |
Change in % |
| CSI 300 Index | 4764.5995 | 0.13 |
| Hang Seng Index | 25939.08 | 1.01 |
| Nikkei 225 Day | 59917.46 | (-)1.02 |
| TOPIX FIRST SECTION | 3772.19 | 0.99 |
| KOSPI | 6637.15 | (-)0.06 |
| FTSE Singapore Strait Times | 4859.46 | (-)0.58 |
| S&P/ASX 200 INDEX | 8703.70 | (-)0.08 |
(Ruchira Kagita)
Equity Alert: US indices end lower Tue on renewed concerns over tech stocks
MUMBAI--0805 IST--US indices ended lower Tuesday after touching record highs the previous session as renewed concerns of an artificial intelligence boom triggered a sell-off in shares of major chip-makers and companies in allied businesses. The fall comes ahead of the quarterly earnings announcement by five of the US technology sector's "Magnificent Seven" companies this week.
On Monday, a report by The Wall Street Journal said that OpenAI recently missed its targets for revenue and new user growth. The report claimed that OpenAI's Chief Financial Officer Sarah Friar told other company leaders that the AI developer might not be able to finance future computing contracts if the top line growth does not pick up fast enough.
Following the report, stocks of major chipmakers tumbled, with VanEck Semiconductor ETF (SMH), Broadcom, and
Advanced Micro Devices sliding 3–4%, while industry leader Nvidia shed 2%. Shares of Oracle, which engages closely with OpenAI, fell 4%.
Investors will keep an eye out for the earnings of Alphabet, Amazon, Meta Platforms, and Microsoft, which are slated to come out Wednesday, while those of Apple are due Thursday.
As negotiations between the US and Tehran have seemingly reached a standstill, Brent crude oil prices remained over $111 per barrel, further weighing on investor sentiment. On Monday, White House press secretary Karoline Leavitt confirmed that US President Donald Trump and his national security team have discussed Iran's proposal to reopen the Strait of Hormuz if the US lifts its blockade.
Following are the closing levels of US indices on Tuesday:
|
US Indices |
Levels |
Change in % |
|
Dow Jones Industrial Average |
49141.93 | (-)0.05 |
|
NASDAQ Composite |
24663.80 | (-)0.9 |
|
S&P 500 |
7138.80 | (-)0.49 |
(Shruti Nair)
US$1 = INR 94.77
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.
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