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Informist, Thursday, Apr. 30, 2026                                      Tel +91 (22) 6985-4000

Equity Alert: Indices end lower as crude oil prices touch a high of $126/bbl

MUMBAI--1620 IST--Benchmark indices ended lower Thursday as crude oil prices rose to a high of over $126 per barrel intraday. The gains in crude oil prices came after US President Donald Trump said the US naval blockade of Iran ports could continue for months. Metal stocks were the major laggards in the indices. 

The Nifty 50 ended at 23997.55 points, down 180.10 points or 0.7% and the BSE Sensex ended at 76913.50 points, down 582.86 points or 0.8%. 

Bajaj Auto ended the session as the top performing stock in the Nifty 50, up nearly 5%. The stock gained momentum after the company said it plans to consider a buyback of shares on May. 6. Shares of Sun Pharmaceutical Industries ended nearly 2% higher. Information Technology companies Infosys and Tech Mahindra ended around 1% higher each.

In contrast, Tata Motors Passenger Vehicles ended as the worst hit in Nifty 50, down over 3%. Metal stocks Hindalco Industries, Tata Steel, and JSW Steel ended 1-3% lower. Hindustan Unilever ended nearly 3% lower. The fast-moving consumer goods major's shares declined despite it reporting a 17% on-year rise in its net profit to INR 29 billion. Eternal, Axis Bank, UltraTech Cement, and Shriram Finance ended 2-3% lower. 

Among the sectoral indices, Nifty Metal closed as the underperformer, falling over 2%. All the constituents in the index ended lower. The broader market indices ended in negative territory as well. Nifty Smallcap indices were down 0.4-0.5%, while the Nifty Midcap indices closed 0.9-1.0% lower.

Bajaj Auto was the top gainer in the Nifty 200 as well. Meanwhile, Waaree Energies was the worst hit in both the Nifty 200 and Nifty 500 indices, down nearly 11%. The stock fell despite the company reporting a 71% on-year growth in its consolidated net profit at INR 10.61 billion. 

National Aluminium Co. ended nearly 8% lower in the Nifty 200. Vedanta closed over 6% lower after trading at a new adjusted price post its demerger into five different entities. Cemindia Projects was the top gaining stock among the Nifty 500 constituents, ending 20% higher.  (Adhithya Aji)

Equity Alert: European indices largely muted; ECB likely to hold rates

MUMBAI--1600 IST--Stock markets in Europe opened lower with market participants awaiting the European Central Bank's policy rate decision due later in the day. The ECB is expected to hold the rate steady but its commentary on inflation and growth outlook will be keenly watched. The Bank of England is also due to announce its decision on interest rates. Elevated crude oil prices were also a dampener for the European indices. The STOXX 600 was up marginally.

Eurozone GDP rose only 0.1% on quarter in the first three months of 2026, indicating a slowdown because of the war in West Asia, according to the flash estimates. The ECB's commentary on the health of the eurozone economy will be key. The preliminary expectations for inflation indicated a rise of 3% in April annually from 2.6% in March. This is significantly higher than the central's bank's 2% target. The spike in inflation is probably attributable to high energy prices. In fact, energy prices are seen at their highest annual rate, up 10.9%.

Germany's GDP expanded 0.3% in the first quarter of 2026, compared with the last quarter of 2025. This was despite the headwinds the economy faced because of the war in West Asia. In April, unemployment remained above three million, with a seasonally adjusted rise of 20,000, although there was a reduction in unadjusted terms. "The spring upturn in the labour market begins in March. However, this year it lacks significant momentum," Andrea Nahles, chair of the executive board of the federal employment agency of Germany, said in a press release. 

The UK's FTSE 100 index advanced after opening flat, but benchmark indices in France and Italy fell around 0.1% each. Germany's benchmark DAX Performance-Index and Switzerland's SLI were flat with a marginal positive bias.

Following were the levels of major European indices at 1558 IST:

(Ruchira Kagita)

Equity Alert: Most Asian indices end lower as Brent crude hits 4-year high

MUMBAI--1547 IST--Most equity indices in Asia ended lower as crude oil prices continued to rise amid no signs of a US-Iran breakthrough. Thursday, the June futures contract of Brent crude surged past the $126 per barrel mark, the highest price in over four years, following a report that the US is considering additional military action against Iran.

"The future path of the Iran conflict is still extremely uncertain... All outcomes are still on the table: escalation, impasse and peace, with starkly different implications," Reuters quoted Luke Yeaman, chief economist at the Commonwealth Bank of Australia, as saying. 

South Korea's KOSPI closed over 1% lower at 6598.87 after hitting an all-time high of 6750.27 points earlier in the session. However, on a month-on-month basis, the index gained nearly 31%. Among index heavyweights, chipmaker Samsung Electronics fell over 2%, while SK Hynix lost 0.5% Thursday. Battery maker LG Energy Solution slid 2.6%. Hong Kong's Hang Seng Index, Japan's Nikkei 225 Day and Topix First Section closed over 1% lower each, while China's CSI 300 Index closed 0.1% lower. Bucking the trend, Singapore's FTSE Singapore Strait Times Index closed over 1% higher at 4912.69 points. 

The following were the levels of major Asian indices at 1544 IST:

(Arya S. Biju)

Equity Alert: Bajaj Finserv tad down ahead of Jan-Mar results

MUMBAI--1330 IST—-Shares of Bajaj Finserv fell nearly 1% to an intraday low of INR 1,748.90 ahead of the company's March quarter earnings, due later in the day. The non-banking financial company's net profit for the March quarter is expected to rise due to healthy growth in total income, according to Motilal Oswal Financial Services Ltd. At 1331 IST, shares of Bajaj Finserv were trading marginally lower at INR 1,761.90.

Bajaj Finserv's net profit is expected to rise over 13% on year to INR 27.37 billion for the March quarter, according to Motilal Oswal Financial. Its total income is expected to rise 20% on year to INR 439.19 billion.

However, the company's gross written premium is expected to be subdued as momentum in the lumpy government, health and crops segment is expected to fade, according to Motilal Oswal Financial. The brokerage estimates the combined ratio of Bajaj General Insurance to improve to 100.1% for the March quarter owing to operational efficiency.

The insurance segment of the company was rebranded as Bajaj Life Insurance and Bajaj General Insurance last year. The underwriting profit of Bajaj General Insurance is expected at INR 578 million for the March quarter, compared against a loss of INR 1.37 billion in the December quarter, according to Motilal Oswal Financial.

Of the seven brokerage reports on Bajaj Finserv available with Informist, five have a "buy" recommendation on the stock with an average target price of INR 2,388. This is nearly over 35% higher than the current price. The remaining reports have a "hold" recommendation on the stock.  (Kabir Sharma)

Equity Alert: Meesho up 11%; JP Morgan starts coverage with 'overweight'

MUMBAI--1225 IST--Shares of Meesho rose over 11% to INR 193.42, the highest in four months, as it recovered from a fall for the past three days. Global brokerage firm JP Morgan has initiated coverage on the stock with an 'overweight' recommendation and target price of INR 215, implying an upside of more than 11% from the current market price, NDTV Profit reported.

JP Morgan said advertising remains under-monetised and has multiple levers to drive gains, while monetisation of premium users offers additional upside. It expects the recent issues in logistics costs to be a one-off rather than a structural issue, and it sees free cash flow recovering faster than earnings before interest, taxes, depreciation, and amortisation. The Bengaluru-based Meesho expanded its logistics network under Valmo, resulting in temporary inefficiencies such as under-utilised routes, redundant nodes, and longer delivery distances. The brokerage said execution on monetisation and cost control will be key to sustaining growth and profitability.

At 1221 IST, over 68 million shares of Meesho had changed hands on NSE, nearly 10 times the average daily volume in the past three months and almost thrice the average daily volume of the past six months.  (Prateem Rohanekar)

Equity Alert: Bajaj Finance rises to 2-month high; Q4 consol PAT up 22% YoY

MUMBAI--1220 IST--Shares of Bajaj Finance rose nearly 5% Thursday to a near two-month high of INR 975. The stock rose after the company reported a 22% year-on-year rise in its consolidated bottom line for the March quarter post market hours the previous day. Bajaj Finance shares extended gains for the fifth session in a row.

The non-banking finance company posted a consolidated net profit of INR 56.65 billion for Jan-Mar. Sequentially, this is a rise of over 37%. The company's revenue from operations for the quarter rose over 18% on year to INR 216.06 billion. Its top line rose almost 3% on a quarter-on-quarter basis.

The strong growth in assets under management for the quarter helped the company report a significant rise in its net profit. Bajaj Finance's consolidated assets under management rose 22% on year to INR 5.10 trillion as of Mar. 31.

Brokerage JM Financial has cut its target price for Bajaj Finance by nearly 10% to INR 1,080, but maintained 'buy' call on the stock. The brokerage has also maintained its 2026-27 (Apr-Mar) and FY28 earnings-per-share estimates for the company. "Strong franchise scale, sustained 20%+ AUM (assets under management) growth, sector-leading RoA/RoE(return on assets/return on equity), structurally lower credit cost guidance and increasing secured mix provide high earnings visibility," the brokerage said. Continued operating efficiencies led by artificial intelligence and strong provisioning buffers further improve resilience, it said.

PL Capital, the new branding of brokerage firm Prabhudas Lilladher, raised its recommendation on Bajaj Finance to 'buy' from 'accumulate.' It also revised the stock's target price to INR 1,100, up by over 7%. The brokerage expects a growth of 23% in the company's assets under management in FY27, supported by new verticals and recovery in micro, small, and medium enterprises. The net interest margin is expected to compress as bond yields harden, according to the brokerage report. The company's credit cost outlook is positive for FY27 at 1.45–1.60%, PL Capital said.

At 1140 IST, shares of Bajaj Finance were 1.5% higher at INR 944 on the NSE. So far in the day, nearly 17 million shares of the company have changed hands on the exchange, higher than 2.5 million shares traded till the same time Wednesday.

Of the 13 brokerage recommendations available with Informist on the company, nine have a 'buy' recommendation with an average target price of INR 1,132. Of the remaining four, three have a 'hold' recommendation and one has a 'sell' call on the stock.  (Arundathi A R)

Equity Alert: Vedanta down 6% post special pre-open session on co's demerger

MUMBAI--1023 IST--Shares of Vedanta fell over 6% from its pre-open session price of INR 289.50. Shares of the company traded at a new adjusted price after the special pre-open trading session conducted post the company's demerger into five different entities. Four other listed companies will emerge after the demerger of Vedanta. They are Vedanta Aluminum Metal, Talwandi Sabo Power, Malco Energy, and Vedanta Iron and Steel.

This restructuring is expected to drive upside potential for the company through improved capital allocation backed by a focused management team for each business, Emkay Global Financial Services said. "Importantly, the demerger is structured with clear balance sheet discipline, with debt aligned to underlying cash flows...," Emkay Global said. The oil and gas and iron and steel entities will largely be net-debt free, while leverage across other businesses remains proportionate to their earnings capacity, the brokerage added.

"The company has judiciously allocated debt into different demerged entities," Nuvama Institutional Equities said. The brokerage expects the stock to trade at INR 336. The four demerged entities are likely to get listed in June, Nuvama added.

At 1022 IST, shares of Vedanta were down nearly 4% at INR 278.85. Nearly 23 million shares of the company changed hands on NSE post the special pre-session for the stock.  (Adhithya Aji)

Equity Alert: Mazagon Dock Shipbuilders down over 2% ahead of Jan-Mar earnings

MUMBAI--1000 IST--Shares of Mazagon Dock Shipbuilders fell over 2% ahead of the company's March quarter earnings, scheduled to be announced later in the day. The company is expected to post on-year growth in its bottom line for the third consecutive quarter and growth in its top line for the eleventh straight quarter.

The company's consolidated net profit for the reporting quarter is expected to rise over two times on year to INR 7.58 billion, according to Nirmal Bang Equities Pvt. Ltd. This would be the highest on-year bottom line growth in 19 quarters. On a sequential basis, however, its bottom line is likely to fall nearly 14%.

The Mumbai-based shipbuilding company's top line for the March quarter is expected to rise 2% on year to INR 32.38 billion, the brokerage said. However, this would be the slowest on-year growth in its top line in 11 quarters. The top line is likely to report a 10% fall on a sequential basis. The company's long execution cycles are expected to provide multi-year revenue visibility, supporting stable cash flows and predictable earnings, the brokerage said.

For the quarter ended December, the company reported a consolidated net profit of INR 8.80 billion, up 9% on year. The revenue for the quarter rose 14.6% on year to INR 36.01 billion.

At 0948 IST, the stock was down nearly 2% at INR 2,721.20. The two brokerage recommendations available with Informist on the company have a 'buy' recommendation on the stock. Nirmal Bang has a target price of INR 2,984, which indicates an upside of nearly 10% from the current market price.  (Arundathi A R)

Equity Alert: Indices open down as crude rises over $122/bbl; Bajaj Fin up 4%

MUMBAI--0937 IST--Benchmark equity indices opened lower after crude prices rose above the $122-per-barrel mark, which weighed on market sentiment. The gains in crude oil prices came after US President Donald Trump said the US naval blockade of Iran ports could continue for months. Automobile stocks were the major laggards on benchmark indices. 

At 0935 IST, the Nifty 50 was at 23913.05 points, down 264.60 points or 1.1%, and the BSE Sensex was at 76663.54 points, down 832.82 points or 1.1%. Only seven constituents on the Nifty 50 traded in the green.  

Bajaj Finance rose nearly 4% in the Nifty 50 to be the top gainer. The financial services company posted a 22% on-year growth in its consolidated net profit to INR 54.65 billion. This was slightly higher than analysts' view of INR 54.40 billion. Coal India, Bajaj Finserv, and Wipro rose around 1%. Eternal was the worst-hit stock in the Nifty 50, down over 3%. Shares of Shriram Finance, Axis Bank, Mahindra & Mahindra, InterGlobe Aviation, UltraTech Cement, and Tata Motors Passenger Vehicles fell around 2% each.

All the sectoral indices were in the red, with Nifty Auto being the worst hit among them. Nifty Auto fell nearly 3%. The broader market indices were also in the negative territory. Nifty Smallcap indices were down 0.6% each, while Nifty Midcap Indices fell over 1% each.

Bajaj Finance was the top gainer in the Nifty 200 as well. Shares of Motilal Oswal Financial Services rose over 2%, and those of Adani Power rose nearly 2% after the company's March quarter net profit rose 52% on year to INR 40.17 billion. In contrast, Waaree Energies was a major underperformer, falling over 8%.

In the Nifty 500, Cemindia Projects rose 12% to be the top gainer. The company's net profit for the March quarter doubled on year to INR 2.42 billion. HEG was the top underperforming stock in the index, down nearly 10%.  (Adhithya Aji)

Equity Alert: Indices seen lower Thu as crude oil prices rises to $120/bbl

MUMBAI--0855 IST--Domestic headline indices are expected to open lower Thursday as crude oil prices surged to over $120 a barrel due to the continued blockade of Iran ports and US President Donald Trump urging Tehran to reach a peace deal. Investors will focus on the March quarter earnings of four Nifty 50 constituents, due later in the day.

Trump discussed with oil companies how to mitigate the impact of a months-long US blockade of Iran's ports, Reuters reported, quoting a White House official, as the US president urged Tehran to "get smart soon" and sign a deal. Trump said the US will continue its naval blockade of Iran until a nuclear deal is reached with Tehran. At 0831 IST, the June contract of Brent crude oil was trading almost 3% higher at $121.48 per barrel. The crude oil prices were higher for the ninth consecutive session.

The Gift Nifty suggests a rangebound to negative movement of the headline indices Thursday. At 0831 IST, the May futures contract of the Gift Nifty was 0.1% lower at 24095.50, down over 80 points from the Nifty 50's previous close of 24177.65.

The National Stock Exchange will conduct a special pre-open session for Vedanta between 0900 IST and 1000 IST due to its demerger into four other companies--Vedanta Aluminum Metal, Talwandi Sabo Power, Malco Energy, and Vedanta Iron and Steel. ICICI Direct Research expects shares of Vedanta to trade at INR 300-INR 325, adjusted for the company's demerger into five separate entities. The record date for the demerger announced in 2023, is May 1.

Meanwhile, other Asian indices showed a mixed trend. Japan's TOPIX FIRST SECTION was the worst hit index, down 1.5%. The FTSE Singapore Strait Times led the pack of gainers. It was nearly 1% higher. On Wednesday, barring the Nasdaq Composite, all other US indices closed lower after the US Federal Open Market Committee held the federal funds target range steady at 3.50-3.75% for the third straight meeting in 2026. The comments of the committee were not much changed from the previous meeting in March.  (Arundathi A R)

Equity Alert: Most Asian markets fall as crude oil touches $121 per barrel

MUMBAI--0840 IST--Most Asian indices were in the red Thursday, tracking the subdued performance of their US counterparts, as crude oil prices climbed for the ninth consecutive day. Japan's broader-market Topix was the worst performer among its peers, followed by the Nikkei 225. Singapore's FTSE Singapore Strait was the only index among its regional peers to be in the green during early trade.

At 0830 IST, the June futures of Brent Crude Oil touched the $121-per-barrel mark as a report by The Wall Street Journal citing unnamed officials said that US President Donald Trump had instructed aides to prepare for an extended blockade of Iran. Further, Axios reported that Trump had rejected Iran's proposal to reopen the key shipping route Strait of Hormuz and had said the US naval blockade will remain until a deal that addresses US concerns over Tehran's nuclear programme is offered.

As markets in Japan resumed trade after a holiday, the Nikkei 225 shed over 1% as shares of banks and technology stocks dragged down the index. Shares of Mizuho Financial Group Inc. shed over 4%, while those of peers Sumitomo Mitsui Financial Group and Mitsubishi UFJ Financial Group slid 0.8% and 0.6%, respectively. Shares of semiconductor players Advantest Corp. and Tokyo Electron shed over 4% and 1%, respectively.

The Kospi slipped 0.4% during early trade after touching a record high earlier in the session. Heavyweight stock Samsung Electronics was down 0.8%.

Following were the levels of major Asian indices at 0835 IST:

(Shruti Nair)

Equity Alert: US mkts end mostly dn Wed; Fed holds rates steady as expected

MUMBAI--0755 IST--US indices ended mostly lower on Wednesday with the Dow Jones Industrial Average closing lower than its peers, and in the negative for the fifth consecutive session. The US Federal Reserve held the benchmark interest rate steady reflecting market expectations, even as the decision came from a divided Federal Open Market Committee. Inflationary concerns persisted as crude oil prices climbed to nearly $120 per barrel. 

The Federal Open Market Committee voted to hold the interest rates steady between 3.5–3.75%. Markets had priced in a 100% chance of no change in the rate. However, the Committee was at its most divided since 1992 with an 8-4 vote as four officials expressed dissenting views for varying reasons.

Meanwhile, incumbent Chair Jerome Powell said he would remain on the Board of Governors indefinitely even after his term as governor ends on May 15 until investigations regarding the renovation of the central bank's headquarters are concluded.

"With Powell choosing to stay on as a Fed governor, those in favor of cuts, including incoming Chair Kevin Warsh, are in the minority. Warsh is going to have a hard time convincing a majority to cut rates," Sonu Varghese, global macro strategist at Carson Group told CNBC in an email.

The earnings of four of the US Magnificent Seven technology majors came out post market hours on Wednesday. Shares of Meta fell modestly following the company's earnings report amid disappointing user growth. Shares of Microsoft closed over 1% lower even after the company beat estimates for its top and bottom line. Alphabet added 7% soon after beating revenue expectations, though it gave up these gains before closing marginally lower, while Amazon shares advanced over 1% on a surge in cloud computing revenue.

Following were the closing levels of major US indices on Wednesday:

(Shruti Nair)

US$1 = INR 94.91

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

Edited by Vandana Hingorani

All prices from National Stock Exchange, unless otherwise specified.

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

All times are Indian Standard Time.

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