Equity Alert
Nifty 50 June ends at premium of 192.25 points to spot index
This story was originally published at 15:57 IST on 29 May 2026
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Equity Alert: Nifty 50 June ends at premium of 192.25 points to spot index
MUMBAI--1538 IST--The June futures contract of the Nifty 50 closed at a premium of 192.25 points to the spot index Friday. Open interest in the contract rose 26.5% to 18.70 million, according to provisional data.
--Nifty 50 closed at 23547.75 points, down 359.40 points or 1.5% from Wednesday
--Nifty 50 June closed at 23740.00 points, down 256.70 points or 1.1% vs Wednesday
Nifty 50 options, expiring Tuesday, with maximum change in open interest:
Call: 24000, Put: 23100
Nifty 50 options, expiring Tuesday, with maximum open interest:
Call: 24000, Put: 23000
(Gopika Balasubramanium)
Equity Alert: Wockhardt hits all-time high after co gets nod to sell Zaynich
MUMBAI--1525 IST--Shares of Wockhardt rose over 18% to a record high of INR 2,097.40 after the Central Drugs Standard Control Organisation approved the import and sale of its antibiotic drug Zaynich in India. The approval covers the treatment of complicated urinary tract infections, including pyelonephritis, as well as cases with concurrent gram-negative bacteraemia in adult patients, the company said in an exchange filing Thursday.
The approval follows clinical trials, in which the test-of-cure showed 89% of patients responded favourably. The test was conducted 10 days after completion of the therapy. Friday, shares of the pharmaceutical and biotechnology company came off highs and ended at INR 2,031.40, up 14.7% from Wednesday's close.
Friday, around 13.2 million shares of the company changed hands on the National Stock Exchange. This was way higher than the nearly 2 million shares of the company traded on Wednesday. (Arya S. Biju)
Equity Alert: GMR Airports rises over 6%; co posts PAT in Q4 vs loss yr ago
MUMBAI--1500 IST--Shares of GMR Airports rose over 6% to a near-five-month high of INR 104.14 after the company reported a net profit of INR 3.02 billion for the March quarter compared with a loss of INR 2.38 billion in the year-ago quarter. At 1456 IST, shares of the company were at INR 101.71, up around 4% from Wednesday's close and were among the top gainers in the Nifty 200 index. So far in the day, around 88 million shares of the company changed hands on the National Stock Exchange, compared to the 9 million shares traded till the same time Wednesday.
The airport operator's revenue for the reporting quarter grew 38% on year to INR 39.38 billion. This was, however, lower than analysts' projection of INR 39.75 billion-INR 41.90 billion. The company's consolidated earnings before interest, tax, depreciation, and amortisation for the quarter grew 38% on year to INR 15.50 billion. Its consolidated EBITDA margin contracted by about a percent on year to 50%.
Going forward, the company expects the operating environment to improve from the second half of 2026–27 (Apr-Mar) given that airspace closures and the war in West Asia have already impacted the first half, its management said in a post-earnings call with analysts Thursday. The management also flagged higher operating expenses stemming from a sharp rise in jet fuel prices amid the ongoing geopolitical conflict.
JM Financial Institutional Securities trimmed its 2026-27 (Apr-Mar) and FY28 earnings estimates for the company by 2-3%, due to lower-than-expected non-aero revenue at Delhi International Airport and lower profitability at GMR Hyderabad International Airport. The brokerage retained its 'buy' call on the stock with an unchanged target price of INR 115. It flagged weak air traffic due to high aviation fuel prices and international traffic disruption as a result of the West Asia conflict as key risks for the stock. (Arya S. Biju)
Equity Alert: European indices gain on optimism over US-Iran peace deal
MUMBAI--1441 IST--European indices opened higher Friday as investors remained optimistic about a potential deal between the US and Iran. US President Donald Trump is yet to give his approval to a deal to extend the ceasefire in West Asia for another 60 days. The French index CAC 40 rose 0.9% and FTSE MIB index gained 0.4%.
Defence stocks were the major gainers. The stocks gained after a Russian drone struck an apartment building in Romania, which is a neighbour of Ukraine and a member of both the North Atlantic Treaty Organisation and the European Union. Shares of defence companies traded higher on Thursday as well, after Ukraine's parliament approved a $104.6 billion loan agreement with the EU, with the sector shirking a broad sell-off gripping regional shares, CNBC reported.
Defence shares are likely to rise when geopolitical tensions escalate as investors expect strong demand for military equipment during the period, Reuters reported.
The French index rose despite the country's inflation rising at its fastest pace in two years for the month of May. France's inflation rose to 2.8%, the highest since February 2024 and up from 25% reported in the month of April, Reuters reported. Inflation data from Germany and Italy is due later in the day. The German index Dax Performance rose 0.2% ahead of its inflation data.
The following were the levels of major European indices at 1435 IST:
| Index | Level | Change in % |
| CAC 40 | 8258.58 | 0.85 |
| DAX PERFORMANCE-INDEX | 25133.68 | 0.17 |
| FTSE 100 Index | 10446.11 | 0.19 |
| FTSE MIB Index | 50006.8 | 0.36 |
| SLI PR | 2161.16 | 0.65 |
(Adhithya Aji)
Equity Alert: Most Asian indices up; Nikkei 225, TOPIX, KOSPI hit new highs
MUMBAI--1405 IST--Most major indices in Asia gained Friday amid reports of the US and Iran reaching a memorandum of understanding for a 60-day ceasefire. Japan's benchmark Nikkei 225 index and broader market TOPIX notched fresh all-time highs. South Korea's benchmark index KOSPI also touched a new record level. Brent crude oil futures remained below $100 per barrel for the fifth straight session, supporting market sentiment.
In Japan's key 225-stock index, 163 stocks gained while 61 fell. Shares of heavyweights Fast Retailing Co. and SoftBank Group Corp. closed over 5% higher each. On a weekly basis, the index gained for the second straight time. Meanwhile, the TOPIX rose for the sixth consecutive week, up over 6% during this period. Consumer confidence improved by 1.4 points on month to 33.6 in May. Confidence had declined for the past months. In May, consumers' willingness to purchase goods went up 1.2 points to 24.4, while hopes of income growth were only slightly higher at 40.3 from an unchanged 39.8 in the past two months.
In South Korea, the KOSPI closed the truncated week higher. This was the second consecutive weekly gain for the country's key stock index. On Friday, shares of heavyweights Samsung Electronics Co. ended almost 6% up, and those of LG Energy Solution closed more than 3% higher.
Thursday, the Bank of Korea held its key interest rates steady at 2.5% for the eighth time in a row. The central bank revised its growth forecast for the year to 2.6% in 2026 from 2%, mainly driven by the boom in demand for semiconductors. Shin Hyun-song, the governor of the central bank, indicated a tighter stance going forward. "...it is judged necessary to raise the Base Rate at an appropriate time," Shin said.
Following were the levels of major Asian indices at 1405 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4892.1213 | (-)0.45 |
| Hang Seng Index | 25182.39 | 0.70 |
| Nikkei 225 Day | 66329.50 | 2.53 |
| TOPIX FIRST SECTION | 3957.17 | 1.41 |
| KOSPI | 8476.15 | 3.55 |
| FTSE Singapore Strait Times | 5038.38 | 0.99 |
| S&P/ASX 200 Index | 8731.70 | 1.62 |
(Ruchira Kagita)
Equity Alert: Indices fall more; less than 15 Nifty 50 constituents in green
MUMBAI--1345 IST--Indices extended their losses with less than 15 constituents in the Nifty 50 now in the green. The Nifty 50 slipped below the 23800 level with energy companies and select financial institutions among the main laggards. While Asian markets rose on the prospect of the deal, Indian equities diverged from its peers and remained lower.
At 1344 IST, the Nifty 50 was at 23770, down 0.6%, and the BSE Sensex was at 75511.44, down 0.5%. While Infosys, up 3%, was the top gainer in the Nifty 50 index, Eicher Motors extended its losses, down nearly 3%, and slipped to the bottom of the index. The Nifty small-cap indices pared some gains but were 0.1–0.2% higher, outperforming their headline peers. The Nifty mid-cap indices were down 0.8?ch. Most sectoral indices were in negative territory. Nifty Auto, Nifty Oil & Gas, and Nifty Metal indices were down 1.0–1.4% and were the worst-hit sectoral indices. The Nifty IT index remained the top gainer, up 2%.
In the Nifty 50, energy companies remained at the bottom of the index. Oil and Natural Gas Corp. and Power Grid Corp. of India, and NTPC were down around 2–3%. Select financial companies were also among the laggards. Jio Financial Services, Bajaj Finance, SBI Life Insurance Co., and Shriram Finance were down 1.1–1.7%.
Conversely, information technology companies Tech Mahindra, HCL Technologies, and Wipro, remained among the gainers, up 1.8–2.2%. IT players were also the notable gainers in the Nifty 200 index, with Coforge, LTM, and Persistant Systems up 2.5-3.6%. Bharat Dynamics was 7.8% lower and remained the worst-performing stock in the Nifty 200 index.
Wockhardt retained its gains of nearly 18% and remained the highest gainer in the Nifty 500 index. The stock hit its record high at INR 2,097.40 after the company received regulatory approval to import and sell its antibiotic drug, Zaynich, in India. Conversely, Jyoti CNC Automation sharply extended its losses after it reported a 17% on-year fall in its consolidated net profit for the March quarter to INR 905.7 million. The stock shed nearly 9% and plummeted to the bottom of the Nifty 500 index. (Shruti Nair)
Equity Alert: Alkem Lab hits 3-mo high, brokerages bullish on domestic sales
MUMBAI--1300 IST--Shares of Alkem Laboratories came off highs after rising over 6% to a more than three-month high of INR 5,789. Shares of the company rose after it reported a healthy set of earnings for the March quarter Thursday. At 1318 IST, shares of the company were 2% higher at INR 5,560 on the National Stock Exchange.
While brokerages cited caution about near-term margin headwinds for the company, they were positive on the growth potential of its domestic business. High demand for Semaglutide is seen a major tailwind for its India business, analysts said. Further, a lower tax rate estimate of 27-29% as the company adopts the new tax regime is likely to boost its earnings per share.
Motilal Oswal Financial Services raised its earnings estimate for the company by 3% for 2026-27 (Apr-Mar) and 5% for FY28. The brokerage is bullish on the drug maker's growth in the US market, given limited competition, enhanced opportunities from Semaglutide, and a reduction in the effective tax rate estimate. The brokerage retained its 'neutral' stance on the stock with a target price of INR 5,840.
Highlighting tailwinds from its biosimilar division from its Enzene subsidiaries, acquisition of Occlutech, and a lower tax rate estimate, ICICI Securities said it expects the company's revenue to grow at a compounded annual rate of 13.2?tween FY26 and FY28.
The company's expectation of double-digit growth in its India business for FY27 is ahead of Nomura's estimates. The brokerage had pegged its domestic formulations to grow 10% in the current financial year. Further, Nomura expected the pharmaceutical company's sales from the US business to grow 4% in constant currency terms while the management guided for high single-digit growth. It also said the lower tax rate "will have a positive impact on the reported EPS." The broking firm retained its 'buy' stance on the stock with an unchanged target price of INR 6,890.
However, while the company's long-term growth prospects are positive, cost inflation, tax expenses, and near-term margin pressure are expected to weigh on its earnings, Nirmal Bang Equities said in a report. The brokerage downgraded the stock to 'hold' from 'buy' and revised the target price downwards by nearly 6% to INR 5,957 from INR 6,317.
Alkem Laboratories' consolidated net profit fell nearly 23% on year to INR 2.36 billion. The company incurred a one-time cost of INR 1.35 billion due to the impairment of assets and liabilities related to gratuity and leave encashment. Excluding this, the profit was INR 3.71 billion. The pharmaceutical major's consolidated revenue for the quarter under review rose nearly 15% on year to INR 36.03 billion. (Ruchira Kagita)
Equity Alert: Indices in red; Nifty 50 below 24000; energy, steel cos drag
MUMBAI--1240 IST--Headline indices shed their modest gains and fell into the red. With most constituents in negative territory, the Nifty 50 slipped below the 24000 mark. Energy and select metal companies were among the major laggards in the 50-stock index. Information technology companies remained the main gainers.
At 1232 IST, the Nifty 50 was at 23854.25, down 0.2%, while the BSE Sensex was at 75812.96, down 0.1%. Broader market indices were mixed, with the Nifty mid-cap indices down around 0.4?ch. However, the Nifty small-cap indices outperformed their benchmark peers and gained 0.4–0.5%. The Nifty IT index was up 2.2% and was the top gaining sectoral index. The Nifty Metal and Nifty Oil & Gas indices were among the worst performers, down 0.7% and 1.1%, respectively.
InterGlobe Aviation shed over 2% and became the worst-hit stock in the index. State-owned energy companies NTPC, Power Grid Corp. of India, and Oil and Natural Gas Corp. were down 1.4–2.2%. Metal companies JSW Steel and Tata Steel were down around 1.2?ch.
Infosys was the top gaining stock in the Nifty 50. The stock was up nearly 4% and even hit its one-month high at INR 1,210 per share earlier in the session. Peers Tech Mahindra, Wipro, and HCL Technologies, were up 1.4-2.1% and were also among the notable gainers.
Bharat Dynamics was the worst performing stock in the Nifty 200 and Nifty 500 indices. The stock was down over 7% and hit a one-month low at INR 1175.40 per share. The state-owned defence company's net profit and revenue for the March quarter sharply missed the Street's view. For Jan-Mar, Bharat Dynamics reported a net profit of INR 1.13 billion, down nearly 59% on year. The company's top line fell nearly 73% on year to INR 4.8 billion. Further, multiple brokerages downgraded their recommendations on the stock primarily due to delays in order execution.
In the Nifty 200, GMR Airports was the highest gainer, up 6%. The stock hit a three-month high at INR 104.14 per share after the company reported a net profit of INR 3.02 billion for the March quarter against a net loss of INR 2.38 billion, in the year-ago quarter. Shares of Wockhardt gained over 17?ter the Central Drugs Standard Control Organisation approved the import and marketing of its antibiotic drug Zaynich. (Shruti Nair)
Equity Alert: Most IT stocks rise; Wipro jumps 5?ter co's new AI deal
MUMBAI--1225 IST--Most information technology stocks rose Friday, with the Nifty IT index hitting a one-month high of 29747.20 points intraday. Shares of these companies rose after Wipro expanded its partnership with US-based software company ServiceNow to scale artificial intelligence workflows across core enterprise functions.
At 1218 IST, the Nifty IT index was up over 2% at 29540.55 points and was the top gaining sectoral index. The gains were led by Infosys, up around 4%, followed by Coforge, LTM, and Persistent Systems, up 2.6-3.7%. All index constituents except for Oracle Financial services traded higher.
Shares of Wipro rose around 5% to an over one-month high of INR 211 intraday after the company Thursday announced its partnership with ServiceNow to implement agentic AI workflows. Under the extended partnership, Wipro will integrate Wipro Intelligence, its unified suite of AI-powered platforms, solutions, and transformative offerings, with the ServiceNow AI Platform enabling organisations to streamline the initiation, orchestration, and execution of work across enterprise systems, it said in an exchange filing.
"For most enterprises, the real challenge with AI is not ambition, but execution at scale. Our expanded partnership with ServiceNow is designed to bridge that gap through a consulting-led, AI-powered approach that translates business priorities into industry-aligned AI solutions," Malay Joshi, chief executive officer of Wipro's Americas 1 strategic market unit, said in a press release.
The rise in these stocks follows a sharp fall since the beginning of February, following which the valuations of most of them have become comfortable, said Sumit Pokharna, vice-president of fundamental research at Kotak Securities. He remains positive on large-cap IT players such as Infosys, Tata Consultancy Services, and Tech Mahindra.
In another development, mid-cap technology major Mphasis Wednesday announced the launch of an enterprise agency platform, Mphasis Tria, to help companies move beyond artificial intelligence experimentation into coordinated decision-making and measurable business outcomes across operations, technology, and commercial functions. In an analyst meeting, the company said it was repositioning itself as an AI-led, outcome-oriented enterprise transformation player, with the management viewing generative AI as a larger growth opportunity despite near-term deflation in legacy delivery. At 1218 IST, the stock was up over 2% at INR 2,281.50. (Arya S. Biju)
Equity Alert: Patanjali Foods flat ahead of March quarter results Sat
NEW DELHI--1156 IST--Shares of Patanjali Foods oscillated between the day's high of INR 460.45 and low of INR 449.30 Friday, ahead of the company's March quarter earnings announcement on Saturday. At 1120 IST, shares of the company traded at INR 458.15, up 0.8%. So far, a little over 1.2 million shares of the company have changed hands on NSE.
Systematix Shares and Stocks (India) Ltd. expects Patanjali Foods to report INR 3.41 billion of net profit for the March quarter, down 5% year-on-year. On the revenue front, the brokerage anticipates almost 9% year-on-year growth at INR 105.22 billion. Estimates from only one brokerage were available with Informist.
With easing prices, Systematix expects moderate growth on an already high base in the FMCG player's edible oils portfolio. "Better growth in biscuits and recovery in foods with positive YoY growth; robust QoQ & steady YoY growth performance in HPC (home and personal care)," the brokerage added.
The company's operating margin may contract amid a shrinking margin in the edible oils segment, which accounts for a majority of the company's overall top line. Meanwhile, the margin in the ethnic foods segment is likely to expand year-on-year, Systematix said in the earnings-preview report.
The stock is down 12% since the company reported its December quarter results. It is down nearly 30% from its 52-week high of INR 653.93, hot on Jul. 22. Both the research reports on Patanjali foods available with Informist have a "buy" recommendation on the stock. Systematix has a target price of INR 660 and ICICI Securities of INR 650. This is nearly 42–44% higher than the current market price. (Shakshi Jain)
Equity Alert: Bharat Dynamics down 8%; order execution delay hits Q4 revenue
MUMBAI--1152 IST--Shares of Bharat Dynamics fell over 8% to a one-month low of INR 1,175.40. The state-owned defence company reported a sharp fall in both its top line and bottom line for the March quarter. Both the metrics were down in double digits and miserably failed to meet the Street's expectations. Most of the brokerages downgraded their recommendations on the stock due to delays in order execution.
For the March quarter, Bharat Dynamics reported a net profit of INR 1.13 billion, down nearly 59% on year. This was sharply below the analysts' expectations of INR 3.60 billion. The top line of the company fell nearly 73% on year to INR 4.80 billion, sharply below the Street's view of INR 20.28 billion. The bottom line of the company got hit despite a 70?ll in the total expenses.
Bharat Dynamics continued its weak execution trend in the March quarter as well, Nuvama Institutional Equities said. "In our view, the weak performance was driven by supply-chain disruptions linked to the West Asia conflict and adverse product mix," Nuvama said. The brokerage downgraded the stock to "reduce" due to continued execution slippages and weak margin recovery. The weak margin recovery is expected to keep the near-term earnings recovery difficult despite a strong backlog, the brokerage added. Nuvama cut the target price over 39% to INR 1,150.
The company's order execution was impacted by the delays in supply of radars, seekers, and other components for Akash and Astra Mk1 missiles from external vendors, according to Motilal Oswal. The brokerage said the order book remained healthy around INR 260 billion. However, Motilal Oswal said that "...we expect overall execution to remain slower than our earlier estimates, with margins likely to stay under pressure due to a higher share of bought-out components." Motilal Oswal has trimmed the 2026-27 (Apr-Mar) earnings estimate by 25% and by 28% for FY28. The brokerage downgraded the stock to "neutral" and cut the target price over 23% to INR 1,150.
The global brokerage Goldman Sachs has cut the target price on Bharat Dynamics by 8% to INR 1,260. Goldman Sachs said that the company missed execution expectations for the seventh straight year. The brokerage expects margin pressure on the company due to alternate sourcing of critical components and an increase in competition from private players beyond FY28.
At 1140 IST, shares of Bharat Dynamics traded 7% lower at INR 1,192.50. Nearly 4 million shares of the company changed hands on NSE, which is over 18 times higher than the number of shares traded till the same time Wednesday. The stock is the worst hit in both the Nifty 200 and Nifty 500 indices. Indian financial markets were closed on Thursday for Id-ul-Zuha. (Adhithya Aji)
Equity Alert: Schneider Electric hits 5% lower circuit; Q4 PAT down 60% YoY
MUMBAI--1150 IST--Schneider Electric Infrastructure hit the 5% lower circuit at INR 1,308.80 Friday after the company reported a 60% on-year fall in its net profit for the March quarter on Thursday. The stock fell after rising for the previous three straight sessions, during when it gained over 5%. The volume of shares traded till 1107 IST rose 28.5% from that till the same time Wednesday.
The company's net profit for the March quarter declined 60% on year to INR 219.7 million. Its top line for the quarter rose 0.5% to INR 5.9 billion. On a sequential basis, its bottom line fell 77% and revenue fell 43%.
Its other income for the quarter fell to INR 46.7 million from INR 57.1 million a year ago. For 2025–26 (Apr-Mar), the company's net profit fell 21% to INR 2.13 billion, while revenue rose 10% to INR 28.91 billion. (Arundathi A R)
Equity Alert: InterGlobe Aviation down 2% ahead of Jan-Mar earnings
MUMBAI--1120 IST--Shares of InterGlobe Aviation fell over 2% to the day's low of INR 4,460 as the company is expected to post a net loss for Jan-Mar. The company's earnings are scheduled to be announced later in the day. The stock declined more from its opening levels Friday. The volume of the shares traded so far fell nearly 42% from that till the same time Wednesday.
The IndiGo operator is seen reporting the slowest on-year rise in top line in the last 20 quarters as the industry was affected by the ramifications of the West Asia war. The company is expected to report a loss of INR 19.86 billion and revenue is expected to grow only 2% on year and fall almost 4% on quarter to INR 225.69 billion for the March quarter.
At 1107 IST, shares of the company were over 2% lower at INR 4,463.20 on the NSE. So far in the day, over 241,000 shares of the company have changed hands on the exchange, lower than nearly 415,000 shares traded till the same time Wednesday.
Of the nine brokerage recommendations available with Informist on the company, five have a 'buy' recommendation with an average target price of INR 5,940. Of the remaining four, two have 'sell' and the other two have a 'hold' call on the stock. (Arundathi A R)
Equity Alert: Indices swing between gains and losses in first hour of trade
MUMBAI--1100 IST--Headline indices swung between gains and losses during the first hour of trade. The advance-decline ratio was skewed towards the gainers but not by a wide margin. Technology stocks limited the fall in the Nifty 50. While the small-cap indices outperformed the benchmark peers, the mid-cap indices fell sharply.
At 1058 IST, the Nifty 50 was flat at 23904.25 and the BSE Sensex was up 0.1% at 75971.21. In the broader market, the small-cap indices gained around 0.5% and the mid-cap indices fell about 0.1%. The Nifty IT index was the top sectoral gainer. All stocks in the technology index were up 1–4?rring Oracle Financial Services, which was down 0.4%.
Traders reacted to a slew of March quarter earnings. Shares of Alkem Laboratories and GMR Airports rose around 4% and 5%, respectively, after they reported a healthy set of earnings for the quarter ended March. While Alkem Laboratories may face some near-term margin pressure, brokerages were positive on growth in the company's domestic business on the back of demand for Semaglutide, and earnings per share are seen going up for the company due to its lower tax rate of 27-29% going forward. Aditya Infotech hit an upper circuit of 10% at INR 2,903.5 after the company posted a threefold increase in net profit for the March quarter.
On the other hand, Bharat Dynamics and Schneider Electric Infrastructure were down 7% and 5%, respectively. The weapons manufacturer's March quarter profit tanked 59% on year and sales fell 73%. Meanwhile, Schneider Electric's net profit plummeted 60% on year. Shares of Ashok Leyland were also under pressure intraday even as the company posted a healthy set of earnings for the March quarter. Market participants were likely bearish on the commercial vehicle maker's near-term margin potential given the disruptions due to the West Asia war. Ashok Leyland fell almost 3%. (Ruchira Kagita)
Equity Alert: Asian Paints tad up at four-month high ahead of Q4 earnings
MUMBAI--1045 IST--Shares of Asian Paints were a tad higher Friday ahead of the company's March quarter earnings later in the day. The stock rose nearly 1% to an over four-month high of INR 2,696. The stock was up for the second session and gained almost 2% during this period. At 1035 IST, shares of the company were marginally higher at INR 2,678.
Asian Paints is expected to report steady growth in its bottom line for the quarter despite cost inflation stemming from supply disruptions caused by the war in West Asia. The company's net profit for Jan-Mar is expected to rise 20% on year to INR 10.46 billion. Its top line is expected to rise 5% on year to INR 87.89 billion. The company's volumes and gross margins are expected to remain stable during the quarter.
So far in the day, over 237,000 shares of the company have changed hands on the exchange, higher than nearly 173,000 shares traded till the same time Wednesday.
Of the 14 brokerage recommendations available with Informist on the stock, 10 have a 'buy' recommendation with an average target price of INR 3,107. Of the remaining four, two have a 'hold' recommendation and two have a 'sell' call on the stock. (Arundathi A R)
Equity Alert: Markets open tad higher amid US-Iran peace deal uncertainty
MUMBAI--0937 IST--The benchmark indices opened slightly higher Friday amid uncertainty around the peace negotiations between the US and Iran. US President Donald Trump is yet to give his approval to a deal to extend the ceasefire in West Asia for another 60 days. The July futures contract of Brent Crude Oil fell sharply to a little over $92 per barrel. The potential deal between the US and Iran led to the fall. Asian markets also opened higher.
In the domestic market, information technology stocks were the major gainers. Wipro, Infosys, HCL Technologies, Tata Consultancy Services, and Tech Mahindra were the top gainers in the Nifty 50, rising 1-4% at the opening. At 0937 IST, the Nifty 50 was at 23933.35, up 26.20 points or 0.1%. The BSE Sensex was at 75993.29, up 125.49 points or 0.2%. Heavyweight Reliance Industries was up 1%. Maruti Suzuki India, Bajaj Auto, Tata Motors Passenger Vehicles, Larsen & Toubro, Jio Financial Services, and Shriram Finance were up around 1?ch.
Oil and Natural Gas Corp. was the worst hit stock in the Nifty 50, down nearly 2%. The oil explorer fell as global crude oil prices eased. Eicher Motors, Bharti Airtel, Bharat Electronics, Max Healthcare Institute, and SBI Life Insurance Co. were down around 1?ch. Heavyweight HDFC Bank fell nearly 1% as well.
All the broader market indices were in positive territory. The Nifty Midcap indices were up 0.1-0.2%. The Nifty Smallcap indices were up 0.2-0.3%. The Nifty IT was the top gainer among sectoral indices, up nearly 2%. Nifty Infrastructure was the worst hit, down 0.4%.
GMR Airports was the top gainer among Nifty 200 constituents, up over 5%, after the company reported a net profit for the March quarter Wednesday. For the year-ago quarter, the company had reported a net loss. Alkem Laboratories also rose nearly 5%. In contrast, Bharat Dynamics was the worst hit stock in the Nifty 200 and Nifty 500 indices, down over 7%. The company's revenue for the March quarter fell 73% on year and the net profit declined 59% on year.
In the Nifty 500, Aditya Infotech was the top gainer, up 10%. Schneider Electric fell nearly 5%. The company's net profit for the March quarter fell 60% on year. (Adhithya Aji)
Equity Alert: May open lower amid ceasefire deal uncertainty; oil price down
MUMBAI--0845 IST--Domestic benchmark indices may open slightly lower despite easing of crude oil prices to around $93 a barrel as the US and Iran closed in on a memorandum of understanding for a ceasefire extension. However, US President Donald Trump's pending approval for the proposed 60-day ceasefire deal is expected to lead to negative sentiment for the domestic equity market. The market was shut Thursday for Id-ul-Zuha.
The US and Iran reached a preliminary memorandum of understanding for a ceasefire extension for 60 days and started negotiations to permanently end the war, Al Jazeera reported, quoting officials. "The framework still needs President Donald Trump's final approval. If finalised, the agreement would be a major breakthrough after weeks of stalled diplomacy," US officials told Al Jazeera Thursday. In another development, Iran's armed forces fired missiles at unidentified targets late Thursday, CNBC reported, quoting the state media outlet Fars.
At 0843 IST, Brent crude oil July futures were 1% lower at $92.76 a barrel. Crude oil prices were down for the third session in a row, falling to a low of $92 a barrel Thursday for the first time since Apr. 20.
"Markets are likely to witness a bit negative opening on back of global cues," Ruchit Jain, head of technical research at Motilal Oswal, said. "However, we are likely to witness buying interest at lower levels as the broad markets momentum remain strong. Hence, traders are advised to keep a buy on dip approach and trade with a positive bias."
At 0807 IST, the June futures contract of the GIFT Nifty was largely flat at 23882.50. This was over 24 points below the Nifty 50's close of 23907.15 on Wednesday.
Asian Paints and InterGlobe Aviation will detail their March quarter earnings later in the day. Asian Paints is expected to report steady growth in its bottom line for the quarter despite cost inflation stemming from supply disruptions caused by the war in West Asia. The company's net profit for Jan-Mar is expected to rise 20% on year to INR 10.46 billion. Its top line is expected to rise 5% on year to INR 87.89 billion. Shares of Asian Paints closed almost 1% higher Wednesday.
InterGlobe Aviation, the operator of IndiGo, is expected to report a net loss for the March quarter. Its top line is seen rising the least in the last 20 quarters as the industry was affected by the ramifications of the West Asia war. The company is expected to report a loss of INR 19.86 billion and revenue is expected to grow only 2% on year and fall almost 4% on quarter to INR 225.69 billion. Shares of InterGlobe Aviation ended 2% higher Wednesday.
Among Asian markets, Taiwan's TAIEX was the top gainer, up over 2%. All the three major US indices also settled higher Thursday. (Arundathi A R)
Equity Alert: Asian indices rise as sentiment up on hopes of US-Iran deal
MUMBAI--0822 IST--Stock markets in Asia cheered reports of the US and Iran working on a memorandum of understanding for a 60-day extension of the ceasefire. Media reports suggested that US President Donald Trump was yet to sign the agreement. Brent crude oil futures slipped more than 5% lower from Thursday's highs to around $93 per barrel. Almost all indices in the region were firmly higher except those in China. The country's SSE Composite displayed a negative bias while the CSI 300 was flat.
US Vice-President J.D. Vance said both Washington and Tehran were going back and forth on some issues, including that of Iran possessing enriched uranium, the BBC reported. "We're not there yet, but we're very close and we're going to keep on working at it," Vance said.
In South Korea, the benchmark KOSPI gained over 2% in early hours of the session. Among the key stocks was LG Electronics. Shares of LG Electronics shot up 26?ter the company announced a series of automotive innovations built using Google's technology. "The solution supports automakers to significantly reduce the cost of deploying multi-display in-cabin systems," CNBC reported LG Electronics as saying.
Meanwhile, the rate of unemployment in Japan fell to 2.5% in April from 2.7% in March. This is the lowest rate reported since July 2025. Those newly seeking jobs fell 10.9% to 490,000 in the previous month and the country's labour force participation rate rose to 64.4% from 63.6% in March.
Following were the levels of major Asian indices at 0822 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4930.5839 | 0.33 |
| Hang Seng Index | 25108.20 | 0.41 |
| Nikkei 225 Day | 65896.57 | 1.86 |
| TOPIX FIRST SECTION | 3953.48 | 1.32 |
| KOSPI | 8355.68 | 2.08 |
| FTSE Singapore Strait Times | 5018.82 | 0.59 |
| S&P/ASX 200 Index | 8681.80 | 1.03 |
(Ruchira Kagita)
Equity Alert: US indices end higher Thu; NASDAQ, S&P 500 hit new highs again
MUMBAI—0740 IST--Wall Street ended on a strong note Thursday. The NASDAQ Composite and the S&P 500 posted new all-time-highs, while the Dow Jones Industrial Average closed marginally higher. Investors were buoyed by reports of the US and Iran reaching a 60-day memorandum of agreement for a ceasefire. The deal, however, requires US President Donald Trump's approval, some media agencies reported, citing sources.
Among the key stocks was Microsoft. Shares of the technology major advanced more than 3% on reports of the company unveiling a new coding model in the coming week. Shares of drugmaker Eli Lilly closed more than 4% higher after CVS Health Corp. said it would restore coverage of Eli Lilly's blockbuster weight loss injection Zepbound, according to CNBC.
"Traders are on a hair trigger with the back-and-forth on deal news, and have been leaning long to avoid getting trampled by a better-than-expected outcome. The harder part is that the inflationary forces may not abate as fast as markets want," Jamie Cox, managing partner at Harris Financial Group, told Reuters.
US GDP expanded 1.6% on year in the quarter ended March. The figure was revised 0.4% lower from the first estimate mainly on account of investment and consumer spending. Government spend and exports went up during the quarter. The Wall Street Journal and Reuters had expected the US economy to grow 2% on an annualised basis. Meanwhile, the US Personal Consumption Expenditures index rose 3.8% on year in April. The core personal consumption expenditures index, however, went up 3.3% on year. The inflation figures remain well above the Federal Reserve's 2% target.
"Price pressures are likely to persist over the next few months, and while the Fed cannot fix a supply shock, it cannot ignore one that is feeding into underlying inflation," Olu Sonola, head of US economics at Fitch Ratings, told Reuters.
Following were the closing levels of major US indices Thursday:
|
US Indices |
Levels |
Change in % |
|
Dow Jones Industrial Average |
50668.97 | 0.05 |
|
NASDAQ Composite |
26917.471 | 0.91 |
|
S&P 500 |
7563.63 | 0.58 |
(Ruchira Kagita)
US$1 = INR 95.02
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Saji George Titus
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