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tock Market today | Share Market Updates: India’s equity benchmarks traded in a narrow range during the noon session on Thursday, under pressure from a sharp rise in crude prices. Brent crude remained above the $100 mark, extending gains for a fourth straight session amid escalating tensions in the Strait of Hormuz.
At 3:10p.m., the BSE Sensex was down 833 points at 77,682, while the NSE Nifty slipped 200 points to 24,177.
Higher oil prices have raised inflation concerns for India, a major crude importer, and could weigh on corporate margins and consumer demand.
Market sentiment stayed cautious after HSBC downgraded Indian equities to “underweight.” Foreign institutional investors extended their selling, offloading ₹2,078 crore for a second consecutive session.
On the technical front, Nifty has immediate support near 24,000, while resistance is seen in the 24,400–24,500 range.
Top technical indicators for today's trade
FILTERS UPDATES
- April 23, 2026 16:28
(This live blog is now closed)
- April 23, 2026 16:25
Rupee plummets past 94/USD level; settles 33 paise lower
The rupee extended its losing streak for the fourth consecutive session, settling 33 paise lower at 94.11 (provisional) on Thursday and breached the 94-level for the second time in a month amid soaring crude oil prices as West Asia peace talks moved in an uncertain trajectory.
Massive selling of domestic equities and incessant withdrawal of foreign funds amid rising worldwide demand for the American currency further weighed on the domestic unit, which has lost over 1 per cent in a week, forex traders said.
Rupee plummets past 94/USD level; settles 33 paise lower
The rupee drops to 94.11/USD, marking its fourth consecutive decline amid falling equities and rising crude oil prices.
- April 23, 2026 15:55
Patel Engineering declared lowest bidder by SJVN Lower Arun Power Development Company (P) Ltd for Package 2 of the 669 MW Lower Arun Hydropower Project In Nepal, valued at ₹1,593.08 crore
Patel Engineering Ltd, a Mumbai-based infrastructure company, has been declared as Lowest Bidder by SJVN Lower Arun Power Development Company (P) Ltd. (SLPDC), a wholly-owned subsidiary of SJVN, for the Lower Arun Hydro-Electric Project (669 MW) Package 2 in the Sankhuwasabha district of Nepal, valued at ₹ 1,593.08 crore (inclusive of VAT).
Package-2, encompasses the execution of critical civil and hydro-mechanical works integral to the Lower Arun Hydro-Electric Project. This includes the construction of Adit-5 and Adit-6 leading to the Head Race Tunnel, as well as the Part Head Race Tunnel itself, measuring 10.5 meters in diameter and extending 5.41 kilometres. The scope further covers the Surge Shaft and its gates, the Pressure Shaft along with the Butterfly Valve Chamber and Access Adit, and the Power House, Switchyard, Surface Pothead Yard, and Tail Race Channel. Additionally, the package involves installation of steel liners for the Pressure Shafts, Draft Tube Gates and hoists, and the completion of associated road works and supporting infrastructure. Together, these components form the backbone of the project, ensuring efficient water conveyance, energy generation, and long-term operational reliability.
- April 23, 2026 15:53
Gaurav Garg, Research Analyst, Lemonn Markets Desk
The Indian stock market closed on a cautious note today, with the Nifty 50 settling at 24,156.05, down 205.05 points or 0.84%. The index opened at 24,211.20, touched a high of 24,310.20, and a low of 24,134.80, indicating a range-bound session with a mild downward bias. The Sensex also ended lower by 852.49 points, closing near key levels.
Sectoral performance was mixed with a cautious undertone. Pharma led the gains, supported by strength in healthcare and allied segments, while midcap healthcare also performed well. Media and chemicals saw selective buying interest. On the other hand, Auto, PSU Banks, Consumer Durables, Realty, and Banking indices faced some pressure. Financial Services, Private Banks, and IT ended lower, while FMCG showed relative resilience.
Markets extended their recent trend, closing on a measured note amid mixed global cues and continued attention on crude oil prices. Broader concerns around inflation and currency movements kept sentiment somewhat restrained, although stock-specific activity remained active, with interest seen in capital goods and defence stocks. Overall, the market reflected a range-bound trend with a cautious near-term outlook, driven by sectoral rotation and global developments.
- April 23, 2026 15:49
Arihant Capital launches its new CAT III AIF – Arihant Bharat Advantage Fund to access high-growth opportunities
Arihant Capital Markets Limited today announced the launch of the Arihant Bharat Advantage Fund, an open-ended Category III Alternative Investment Fund designed to identify and invest in high-potential businesses outside the conventional universe of large-cap stocks. The fund is built on a straightforward insight: a large part of institutional capital and analyst coverage is concentrated in a limited set of companies, while a significant portion of the listed universe particularly small, micro, and nano-cap companies i.e. nearly 86% of the listed market remains underpenetrated. This broader universe presents meaningful opportunities for disciplined investors willing to conduct independent research.
Historical data supports this approach. According to market analysis, nearly 80% of the decade’s ten bagger stocks originated from the small-cap segment, demonstrating the wealth creation potential in less-followed areas of the market.
- April 23, 2026 15:48
Industry update
ArMee Infotech completes ₹83.7-crore Bihar Education ICT Lab Project
ArMee Infotech Ltd, an integrated technology and energy solutions company, has successfully completed a ₹83.69-crore ICT lab deployment across 954 Government Secondary and Senior Secondary Schools in Bihar under the state’s Samagra Shiksha 2025–26 programme. The project marks a large-scale rollout of digital infrastructure in the public education system aimed at improving access to technology-enabled learning.
The initiative is focused on enhancing access to digital education and bridging the digital divide, particularly in underserved regions. With the rollout now completed, the project is expected to enable improved access to digital learning tools across participating schools.
Under the project, ArMee Infotech undertook end-to-end execution, including supply, installation, commissioning and maintenance of ICT labs. Each lab has been equipped with desktops, networking systems, power backup, internet connectivity, classroom furniture and essential consumables for a period of 12 months.
The company has also conducted training sessions for teachers to support the use of ICT infrastructure in classroom settings and will be responsible for maintaining the deployed systems throughout the contract period.
ArMee Infotech Limited operates across IT infrastructure and managed services and has expanded into retail technology and renewable energy solutions, including solar EPC and project development under power purchase agreements.
- April 23, 2026 15:46
Industry update
Motorica India collaborates with PDUNIPPD to strengthen prosthetics training and clinical capabilities
In a continued effort to strengthen clinical capabilities in prosthetics and rehabilitation, Motorica India recently concluded a three-day Continuing Rehabilitation Education (CRE) programme at Pt. Deen Dayal Upadhyaya National Institute for Persons with Physical Disabilities (DIVYANGJAN) (PDUNIPPD). The programme, centred on advancements in socket technology for trans-humeral myoelectric prostheses, brought together students, clinicians, prosthetists and orthotists for hands-on learning and practical exposure.
Designed as a collaborative learning initiative, the programme combined PDUNIPPD’s clinical expertise with Motorica’s technical inputs, allowing participants to engage with contemporary prosthetic systems and understand their practical application in rehabilitation settings. Through demonstrations, workshops and lab-based sessions, participants were introduced to new approaches in socket design, material selection and device customisation, with an emphasis on improving comfort, functionality and long-term adoption for users.
A key highlight was live EMG assessments, facilitated using Motorica’s systems, allowing participants to understand how muscle signals are captured and translated into movement. This on-ground exposure enabled a deeper understanding of patient-specific calibration, clinical fitting and rehabilitation.
Sessions progressed from theory to application, covering casting techniques, lamination, fitting trials and functional testing, alongside app-based tuning and patient training simulations that reflect the growing integration of digital tools in prosthetic care.
- April 23, 2026 15:45
Industry update
Improvement in Indian banks’ operating environment (OE) assessment could lead to further Viability Rating upgrades
An improvement in Indian banks’ operating environment (OE) assessment could lead to further Viability Rating (VR) upgrades, Fitch Ratings says. This is if the central bank remains committed to reforms introduced over the past decade and India’s economic growth prospects remain intact. However, we may revise the positive OE outlook back to stable if we believe a prolonged conflict in West Asia would have significant and lasting adverse effects on India’s economic growth and banks’ ability to generate revenue while controlling risks.
- April 23, 2026 15:42
Industry update
Invesco Mutual Fund unveils Invesco India BSE Sensex Index Fund and Invesco India Nifty Bank Index Fund
NFO Opens: 23 April 2026; Closes: 7 May 2026
Invesco Mutual Fund today launched the Invesco India BSE Sensex Index Fund (an open ended scheme replicating/ tracking BSE Sensex Index) and Invesco India Nifty Bank Index Fund (an open ended scheme replicating/ tracking Nifty Bank Index), designed to offer investors passive investment options across India’s core equity and banking sector.
Invesco India BSE Sensex Index Fund will make passive investments in equity and equity related securities replicating the composition of the BSE Sensex Index, subject to tracking errors. The BSE Sensex, one of India’s most widely tracked equity benchmarks, represents 30 of the country’s largest, profitable, and industry-leading companies across key sectors of the economy.
With a long track record, the index has remained closely aligned with India’s long-term economic growth, offering investors a simple, transparent, and cost-efficient route to equity market participation.
The scheme will invest in companies that are constituents of the BSE Sensex Index in the same weights as in the Index with an endeavour to track the benchmark index with as low tracking error as possible
- April 23, 2026 15:38
Birla Estates delivers strong FY26 performance with Rs 8,136-crore booking value; sales momentum driven by NCR, followed by Bengaluru and MMR
- April 23, 2026 15:16
Stock market
NSE fines Nuvama Wealth ₹8.69 lakh for SEBI inspection lapses
Nuvama Wealth and Investment, a wholly owned material subsidiary of Nuvama Wealth Management, has received a letter from National Stock Exchange of India Limited levying a penalty of Rs. 8,69,600/- and advising the company to ensure that non-compliance with the observations noted during the comprehensive inspection conducted by SEBI jointly with Exchanges and Depositories.
- April 23, 2026 15:03
Stock market
Mahindra & Mahindra patent portfolio grows 20x over a decade; Shares traded at Rs 3,038.40 on the NSE, down 3.5%
- April 23, 2026 14:54
Quarterly results
Union Bank shares fall after Q4 results, Aditya Birla Sun Life AMC profit declines, Infosys, Adani Energy, Cyient, Himadri Speciality, Tata Capital to announce Q4 results
Q4 Results 23rd Apr Live: Union Bank shares fall after Q4 results, Aditya Birla Sun Life AMC profit declines, Infosys, Adani Energy, Cyient, Himadri Speciality, Tata Capital to announce Q4 results
Q4 Results Today, 23rd April 2026 Live Updates: Find all the latest Q4 results 2026 updates of Aditya Birla Sun Life AMC Ltd, Adani Energy Solutions Ltd, Aurum PropTech Ltd, BlueStone Jewellery and Lifestyle Ltd, Choice International Ltd, CIE Automotive India Ltd, Cyient Ltd, Gujarat Hotels Ltd, Hindustan Composites Ltd, Himadri Speciality Chemical Ltd, Indian Energy Exchange Ltd, Infosys Ltd, Jonjua Overseas Ltd, Khaitan Chemicals & Fertilizers Ltd, LTM Ltd, Mahindra Logistics Ltd, Morarka Finance Ltd, Onix Solar Energy Ltd, PAE Ltd, PH Capital Ltd, Rajesh Power Services Ltd, Sumeru Industries Ltd, Sterling and Wilson Renewable Energy Ltd, Tata Capital Ltd, Techindia Nirman Ltd, Tips Music Ltd, Toyam Sports Ltd, Tata Teleservices (Maharashtra) Ltd, Union Bank of India, and UTI Asset Management Company Ltd. Trent, Tech Mahindra, Havells, LTTS, SBI Life Insurance, Tata Comm, OFSS, BCCL, Delta Corp and more in focus Stay tuned for more updates from businessline
- April 23, 2026 14:53
Quarterly results
Tata Teleservices reports profit surge, shares rise on strong earnings
Tata Teleservices (Maharashtra) reported net profit for the quarter ended March 2026 at Rs 580.93 crore compared to Rs 306.42 crore loss in the same quarter last year.
Shares traded 5% positive on the NSE at Rs 46.37
- April 23, 2026 14:49
Quarterly results
Aditya Birla Sun Life AMC reports lower quarterly profit, declares dividend
Aditya Birla Sun Life AMC reported consolidated net profit for the quarter ended March 2026 at Rs 187.11 crore compared to Rs 228.08 crore in the same quarter last year.
In FY26, the PAT stood at Rs 975.07 crore compared to Rs 930.60 crore in the year-ago period.
Board recommended final dividend of Rs 25.50 per share.
Shares traded at Rs 1,046 on the NSE, up 2.55%.
- April 23, 2026 14:37
Industry update
J.Kumar Infraprojects receives LOA from Mumbai Metro Rail Corporation and MCGM
J.Kumar Infraprojects has received letter of acceptance for two contracts from Mumbai Metro Rail Corporation and MCGM (Municipal Corporation of Greater Mumbai).
Shares traded at Rs 530.05 on the NSE, up 3%
- April 23, 2026 14:36
Companies
KNR Constructions gets ₹32.87-cr claim payout from NHAI settlement
KNR Constructions informed the receipt of its share of Claims of Rs 32.87 Crores including interest of Rs. 6.89 Crores on 23rd April 2026 pursuant to the Settlement Agreements signed between National Highways Authority of India and BSCPL Infrastructure Limited- KNR Constructions Limited (JV)
- April 23, 2026 14:13
Finance
Mahindra & Mahindra Financial Services board approved NCDs aggregating to ₹1,000 crore (500 crore with green shoe option)
- April 23, 2026 14:06
Dr. Ravi Singh – Chief Research Officer (Research) – Master Capital Services Limited on manufacturing PMI
The April manufacturing PMI at 55.9 demonstrates solid growth in industrial activity in India and is supportive of sustained demand. In addition to being positive on a headline basis, the PMI also reflects significant improvements in new order completing, ongoing growth in production, ongoing strength in the domestic economy, that means this growth will not be just a temporary boost, but rather an structural support for ongoing industrial activity. In macro terms, this provides further evidence regarding the strength of India’s growth story. . The bank sector should also benefit from stronger credit demand as well as from improved asset quality trends resulting from this economic activity. Other sectors that could experience growth based on sustained economic activity include automotive, infrastructure and some domestic manufacturers.
- April 23, 2026 14:01
BGR Energy Systems involvency plea: NCLT admits ₹584.67 crore default case, company plans appeal
BGR Energy Systems involvency plea: NCLT admits ₹584.67 crore default case, company plans appeal
BGR Energy Systems faces insolvency with a ₹584.67 crore default; plans to appeal NCLT's admission of the case.
- April 23, 2026 13:56
Sterling and Wilson Renewable Energy reported standalone net loss for the quarter ended March 2026 at ₹78.16 crore
Sterling and Wilson Renewable Energy reported standalone net loss for the quarter ended March 2026 at ₹78.16 crore compared to ₹92.18 crore profit in the same quarter last year.
In FY26, the net loss stood at ₹2,510.18 crore compared to ₹318.26 crore profit in FY25.
Shares traded at ₹227.87 on the NSE, up 4%.
- April 23, 2026 13:43
Companies
AABL secures NCLT approval for ₹30.85 crore acquisition of SDF Industries
Associated Alcohols & Breweries Limited (AABL), a listed company on BSE (507526) and NSE (ASALCBR) and a leading player in the Alco-bev industry, has announced that the Hon’ble National Company Law Tribunal, Kochi Bench(NCLT), has approved its resolution plan vide its order dated April 16, 2026, for the acquisition of SDF Industries Ltd., a distillery-cum-bottling unit located in Thrissur, Keralam, at a cost of ₹30.85 crore. The acquisition will be completed in accordance with the approved resolution plan, upon which SDF Industries Ltd. will become a wholly owned subsidiary of AABL.
- April 23, 2026 13:32
Alembic Pharma has incorporated a wholly owned subsidiary named Alembic Pharmaceuticals GmbH in Germany
- April 23, 2026 13:32
Union Bank of India falls 6% despite rise in Q4 profit to ₹5,316 crore; board recommends ₹5 dividend
Union Bank of India reported standalone net profit for the quarter ended March 2026 at Rs 5315.76 crore compared to Rs 4984.82 crore in the same quarter last year.
Board recommended a dividend of Rs 5 per share.
Shares traded at Rs 182.52 on the NSE, down 6%.
- April 23, 2026 13:30
Fuel shock hits airlines: fares up, outlook trimmed
Soaring fuel costs push airlines to hike fares, cut forecasts
Airlines worldwide raise fares, cut flights and revise outlooks as jet fuel prices surge to $200, driven by geopolitical tensions and supply disruptions.
- April 23, 2026 13:19
Solex Energy to showcase advanced solar technologies at Renew X, Chennai 2026; shares down 1%
Solex Energy to Showcase Advanced Solar Technologies at Renew X, Chennai 2026
Shares traded at Rs 1,333.95 on the NSE, down 1.19%
- April 23, 2026 13:16
Private sector growth accelerates in April, manufacturing leads recovery
India PMI rises to 58.3 in April as manufacturing drives strong private sector growth
India’s PMI rises to 58.3 in April, led by strong manufacturing growth, improved demand and hiring, signalling solid momentum in the private sector.
- April 23, 2026 13:10
Amba Auto Sales and Services to raise ₹65 cr via IPO on NSE Emerge
Amba Auto Sales and Services to raise ₹65 cr via IPO on NSE Emerge
Amba Auto Sales and Services, an automobile and consumer electronics retailer, plans to raise ₹65 crore through Initial Public Offering on NSE Emerge.
- April 23, 2026 13:03
Diffusion Engineers bags ₹9.88 crore order for vertical roller mill and separator parts for cement industry
Diffusion Engineers has received a Domestic order worth about Rs 09.88 Crore (approx.) for supply of Vertical Roller Mill and Separators Parts to be supplied in cement industry
- April 23, 2026 13:03
United Drilling Tools wins ₹3.17 crore order from Vedanta for critical oilfield equipment
United Drilling Tools Ltd. has secured a new order from Vedanta Limited, a major private sector company in the oil and gas industry, for the supply of Critical Oilfield Equipment such as Tubing, Pup Joints and crossovers and the order valued at INR 31.66 MN.
- April 23, 2026 12:55
Pharma lifts Nifty off lows as crude oil, geopolitics keep markets under pressure at midday
Pharma lifts Nifty off lows as crude oil, geopolitics keep markets under pressure at midday
Pharma stocks help Nifty recover from lows amid geopolitical tensions and crude price pressures, with Dr. Reddy's leading gains.
- April 23, 2026 12:45
Nifty today: Top gainers, losers at this hour of trade
Top gainers of Nifty midcap 100: OFSS (+8.47%), GVT&D (+8.10%), Hitachi (+4.48%), Tata Communications (+3.94%)
Top losers: Havells (-5.96%), Ashok Leyland (-4.10%), LG Electronics (-3.69%), Naukri (-3.46%)
- April 23, 2026 12:44
Amazon India to invest over ₹2800 crore to strengthen associate wellbeing programs, expand operations network
Amazon India to invest over ₹2800 crore to strengthen associate wellbeing programs, expand operations network
Amazon India plans to invest ₹2800 crore to enhance associate wellbeing and expand its operations network, prioritizing safety and health.
- April 23, 2026 12:36
Sensex tanked 836.34 pts or 1.07% to 77,680.15 at 12.35 pm, and Nifty 50 was down 199.15 pts or 0.82% to 24,178.95.
- April 23, 2026 12:34
Tata Mutual Fund picks up ₹37 crore stake in EV-focused NBFC Mufin Green Finance
Tata Mutual Fund picks up ₹37 crore stake in EV-focused NBFC Mufin Green Finance
Tata Mutual Fund invests ₹37 crore in Mufin Green Finance, gaining immediate value as shares rise on the NSE.
- April 23, 2026 12:33
N records 37.56% turnout at 11 am; Vijay seeks extra 2 hours of voting over transport woes
Tamil Nadu Election LIVE: TN records 37.56% turnout at 11 am; Vijay seeks extra 2 hours of voting over transport woes
Tamil Nadu Assembly Election 2026 LIVE Updates: Polling began at 7 am across all 234 constituencies in Tamil Nadu for the election to its 17th State Assembly, with nearly 5.73 crore voters—including about 14.59 lakh first-time voters—set to decide the fate of 4,023 candidates in what is shaping up to be a closely watched three-cornered contest.
- April 23, 2026 12:20
Why gold, silver slip: Strong dollar, rising yields & hawkish Fed pressure prices
Why gold, silver prices slipped today — What’s driving the fall in bullion?
Gold and silver prices dropped as a strong dollar, rising yields, and a hawkish Fed exerted downward pressure amid easing geopolitical tensions.
- April 23, 2026 12:10
Trent shares slip 2.5% despite analyst Buy ratings after strong Q4
Trent shares slip 2.5% despite analyst Buy ratings after strong Q4
Trent shares drop 2.5% despite positive analyst ratings following strong Q4 results and upcoming equity fundraise concerns.
- April 23, 2026 12:07
Havells India shares drop 6.5% after Q4 show, brokerages flag demand concerns despite profit growth
Havells India shares drop 6.5% after Q4 show, brokerages flag demand concerns despite profit growth
Havells India shares plunge 6.5% post-Q4 results, as weak revenue growth raises demand concerns despite strong profit increase.
- April 23, 2026 12:03
Maruti Suzuki clocks record 23.4 lakh production in FY26, highest ever in India
Maruti Suzuki records highest-ever production of 23.4 lakh units in FY26, plans expansion
Maruti Suzuki achieves record 23.4 lakh production in FY26, the highest in India, and plans to scale capacity to 40 lakh units with new plant expansion.
- April 23, 2026 11:55
Blue Planet Launches Carbon Credits Portfolio from Waste Processing Projects
Blue Planet Environmental Solutions Pte. Ltd., a Singapore-headquartered integrated waste management company, today announced the launch of its Carbon Credits portfolio. Built on its large-scale Landfill reclamation and waste processing projects in India, the initiative converts legacy landfill emissions into 683,513 Verified Emission Reductions (VERs), offering organisations a credible pathway to measurable climate action.
The credits are generated through scientifically managed waste processing that prevents methane emissions from legacy landfill sites. Each credit represents the verified reduction or avoidance of one metric ton of CO₂-equivalent emissions, directly linked to on-ground interventions across registered projects in India.
Developed under globally recognised European standards and methodologies, for methane avoidance in municipal solid waste management, these projects are independently validated in accordance with ISO 14064-2 standards and registered with the International Carbon Registry (ICR). This ensures full traceability, transparency, and alignment with international carbon market requirements. Blue Planet’s approach goes beyond conventional waste treatment. Through integrated landfill reclamation and advanced material recovery processes, legacy waste is excavated, stabilised, segregated, and converted into reusable resources. This not only reduces landfill dependence and environmental risks but also delivers measurable emission reductions that can be independently verified and monetised as carbon credits.
As global organisations intensify their focus on net-zero commitments, ESG performance, and regulatory compliance, the demand for high-integrity carbon credits continues to rise. There is a clear shift toward credits that are project-backed, traceable, and rooted in real, measurable outcomes. India-origin credits, particularly those linked to infrastructure-scale environmental interventions, are gaining increasing relevance in this transition.
- April 23, 2026 11:54
Omaxe arm secures RERA registration for Lucknow commercial project; shares up 1%
Omaxe’ arm Omaxe Garv Buildtech Private Limited has received RERA Registration Certificate for one of its projects i.e, “COMMERCIAL -3 BLOCK-3” situated at Sarojini Nagar, Lucknow, Uttar Pradesh.
Shares up 1% on the NSE to Rs 84.06
- April 23, 2026 11:49
Silver price falls to ₹2,44,159/kg
Silver price falls to ₹2,44,159/kg
Silver futures decline to ₹2,44,159/kg as global prices drop 2.06% amid reduced trading activity.
- April 23, 2026 11:38
Singapore Airlines deepens role at Air India amid record losses
Singapore Airlines deepens role at Air India amid record losses
Singapore Airlines intensifies its operational role in Air India amid record losses and safety concerns, aiming for effective transformation.
- April 23, 2026 11:29
Lead futures: Maintains positive inclination
Lead futures: Maintains positive inclination
Lead futures show a positive trend; traders advised to buy at ₹195 with targets at ₹198 and ₹203.
- April 23, 2026 11:22
JK Cement declared preferred bidder for Karunda limestone block in Rajasthan; shares down 3%
JK Cement has participated in the e-auction conducted by the Government of Rajasthan wherein the Company has been declared as the ‘Preferred Bidder’ for the Mining lease Karunda Limestone Block-I (spreads over an area of 35.98 hectares), situated in Chittorgarh, Rajasthan.
Shares traded at Rs 5,818.50 on the NSE, down 3%
- April 23, 2026 11:21
Shyam Metalics to launch aluminium flat rolled products and foil facility in Sambalpur, Odisha; shares flat
Shyam Metalics Announces Upcoming Launch of Aluminium Flat Rolled Products and Foil Manufacturing Facility in Sambalpur, Odisha
Shares flat on the NSE at Rs 818.
- April 23, 2026 11:14
Natixis CIB Expands in India with the Establishment of GIFT City Branch
Natixis Corporate & Investment Banking, (Natixis CIB) today announced that it has opened a branch in Gujarat International Finance Tec-City (GIFT City).
This marks a significant milestone in the bank’s long-term strategy to strengthen its presence in India and the wider Asia Pacific region. The GIFT City branch will enable Natixis CIB to drive growth, broaden international diversification, and enhance client servicing capabilities in India.
The branch will be led by Pranav Vyas, Head of Natixis IFSC Banking Unit (IBU), GIFT City. With over 23 years of banking experience, Pranav brings with him a wealth of expertise in building a successful entity in GIFT City. He has a deep knowledge of the Indian market and extensive experience expanding a business franchise in India. He reports to Sanjeev Kumar, Senior Country Manager, Singapore, and Head of South East and South Asia, Natixis CIB.
Bruno Le Saint, CEO, Asia Pacific & Middle East, Natixis CIB, said: “Establishing our new branch in GIFT City is an important step in delivering our Asia Pacific expansion strategy and deepening our regional presence. It reinforces our ability to serve key clients in this fast-growing and strategic market.”
Sanjeev Kumar, Senior Country Manager, Singapore, and Head of South East and South Asia Natixis CIB, added: “The new branch will focus on providing high-value, tailored financing solutions which will support Indian clients with global ambitions, whilst also connecting international clients with India’s vibrant and growing financial market. We are pleased to welcome Pranav Vyas as Head of Natixis IBU, GIFT City, who, as an experienced and strategic leader, will further strengthen the development of our India business. “
Natixis CIB’s branch in GIFT City offers foreign currency-denominated structured products and finance, spanning energy and commodities, infrastructure, aviation, and export financing which includes External Commercial Borrowings. It caters to corporate and institutional clients. In line with operational needs and regulatory frameworks, Natixis CIB plans to scale the branch in tandem with business growth. It is grateful to the Indian government and International Financial Services Centres Authority (IFSCA) for the opportunity.
- April 23, 2026 11:12
Nandani Creation partners with Reliance Fashion Factory to expand reach in discount fashion retail
Nandani Creation Ltd announced its partnership with Reliance Fashion Factory (Formerly Brand Factory), largest Retail chain of discount fashion hub that provides customers with high end national and international India’s brands at significantly reduced prices throughout the year.
- April 23, 2026 11:03
Hyundai Motor reports 31% drop in Q1 operating profit, meets forecasts
Hyundai Motor reports 31% drop in Q1 operating profit, meets forecasts
Hyundai Motor reports a 31% decline in Q1 operating profit, meeting forecasts amid weaker demand and a vehicle recall.
- April 23, 2026 10:58
Dev Information Technology surges 8% after unit enters Microsoft Elite Tier partnership
Dev Information Technology Ltd Unit Partners Microsoft; Enters Elite Tier
Shares traded 8% higher on the NSE at Rs 34.63.
- April 23, 2026 10:57
Patel Engineering gains 1% after emerging L1 bidder for ₹1,593 crore Lower Arun hydropower project in Nepal
PATEL ENGINEERING HAS BEEN DECLARED LOWEST BIDDER (L1) BY SJVN LOWER ARUN POWER DEVELOPMENT COMPANY (P) LTD. (SLPDC) FOR PACKAGE 2 OF THE 669 MW LOWER ARUN HYDROPOWER PROJECT IN NEPAL VALUED AT ₹ 1,593.08 CRORE
Patel Engineering shares were up 1% on the NSE to Rs 28.65
- April 23, 2026 10:39
Rupee slides 34 paise to 94.12 against US dollar in early trade
Rupee slides 34 paise to 94.12 against US dollar in early trade
The rupee falls 34 paise to 94.12 against the US dollar, continuing its losing streak amid geopolitical tensions and equity sell-offs.
- April 23, 2026 10:28
LTTS slips 1% as Q4 profit declines to ₹302 crore; board recommends ₹40 final dividend
LTTS shares traded 1% lower at Rs 3,498.60 on the NSE at 10.23 am, hitting a low of Rs 3,458 from the previous close of Rs 3,550.20.
Company posted standalone net profit for the quarter ended March 2026 at Rs 302.4 crore compared to Rs 314.4 crore in the same quarter last year.
Board recommended final dividend of Rs 40 per share.
- April 23, 2026 10:22
Bharat Coking Coal falls 5% as Q4 profit drops; board approves new washed coal pricing and waives performance incentive for power consumers
Bharat Coking Coal shares fell 5% to Rs 34.12 at 10.19 am.
Company reported net profit for the quarter ended March 2026 at Rs 27.28 crore compared to Rs 66.50 crore in the same quarter last year.
As per approved mechanism of import parity pricing, and in line with the MoU with SAIL, the Board has approved the price of Washed Coking Coal, effective from 00:00 hours of 1st April, 2026 for Q1 of FY 2026–27. The basic price is ₹13,403/- per MT for Washed Prime Coking Coal and ₹10,937/- per MT for Washed Medium Coking Coal. Other charges, levies and taxes shall be applicable over and above. Further, the Board has approved revision of evacuation charges for washery products w.e.f. 1st April, 2026. The approved recovery amounts are ₹731/₹878 per MT (PCC/MCC) for Washed Coal @ 65%, ₹225/₹270 per MT for Washed Power Coal @ 20%, and ₹169/₹202 per MT for Rejects/Slurry @ 15%, which shall be recovered through invoices in addition to existing evacuation charges.
BCCL Board has approved the waiver of Performance Incentive and Discount in Price to Power Consumers (upto 10% in various slabs) for lifting beyond 100% of Annual Contracted Quantity
- April 23, 2026 10:18
Oracle Financial Services jumps 5% as revenue rises, despite lower Q4 profit; board declares ₹270 interim dividend
Oracle Financial Services Software shares traded 5% higher on the NSE at Rs 8,552.50.
Company posted standalone net profit for the quarter ended March 2026 at Rs 1111.1 crore compared to Rs 1835.5 crore in the same quarter last year.
Revenue from operations increased to Rs 1566.3 crore during the quarter under review compared to Rs 1289.5 crore in the same quarter previous year.
Board approved second interim dividend of Rs 270 pre share.
- April 23, 2026 10:15
Mahindra EPC Irrigation FY26 profit jumps 76% to ₹12.7 crore on 15% revenue growth; shares flat
Mahindra EPC Irrigation: In FY26, the Company reported revenue of ₹315.79 crore, registering a 14.5% year-on-year growth compared to ₹275.09 crore in FY25. Profit before tax (PBT) increased by 58.5%, rising from ₹10.71 crore in the previous year to ₹16.99 crore. Whereas Profit after tax (PAT) increased by 76%, rising from ₹7.21 crore in the previous year to ₹12.69 crore, reflecting strong operational performance and disciplined financial management.
Shares flat on the NSE at Rs 121.80
- April 23, 2026 10:15
Cipla jumps 3% after US FDA nod for first AB-rated generic of Ventolin HFA
Delta Corp shares traded 6% higher on the NSE at Rs 72.13, soaring to Rs 73.44 from the previous close of Rs 68. Stock opened at Rs 66.50.
Standalone profit for the quarter ended March 2026 stood at Rs 50.58 crore compared to Rs 59.35 crore in the same quarter last year.
Board recommended final dividend of Rs 0.50 per share.
- April 23, 2026 10:00
Cipla jumps 3% after US FDA nod for first AB-rated generic of Ventolin HFA
Cipla receives U.S. FDA approval for first AB Rated Generic of Ventolin HFA
Shares surged 3% to Rs 1,275.60
- April 23, 2026 10:00
Aerodata and Dynauton Systems launch German-Indian partnership for unmanned airborne reconnaissance; Dynamatic Technologies shares flat
Aerodata and Dynauton Systems Launch German-IndianPartnership for an Unmanned, Airborne Reconnaissance Solution
Dynamatic Technologies stock traded flat on the NSE at Rs 11,550.
- April 23, 2026 09:59
Shilpa Medicare appoints Vellaian Karuppiah as COO – Formulations, effective April 23, 2026
Shilpa Medicare informed that Dr. Vellaian Karuppiah has been appointed as the Chief Operating Officer (COO) - Formulations (Senior Managerial Personnel) of the Company with effect from 23 April 2026.
- April 23, 2026 09:55
Bullion Cues: Gold futures, silver futures have hurdles ahead
Bullion Cues: Hurdle Ahead
Precious metals show bullish potential; gold and silver face key resistance levels—strategies for trading outlined.
- April 23, 2026 09:52
KP Energy jumps 6% after securing inter-state electricity trading licence from CERC
KP Energy Limited Receives Inter-State Electricity Trading Licence from CERC, Expanding Access to Nationwide Power Markets
Shares surged 6% on the NSE to Rs 374.
- April 23, 2026 09:51
Larsen & Toubro secures orders worth ₹1,000–2,500 crore; shares flat at ₹4,036
Larsen & Toubro secured multiple orders worth Rs 1,000-2,500 crore.
Shares flat on the NSE at Rs 4,036.
- April 23, 2026 09:51
Tech Mahindra falls 2% despite 16% rise in Q4 net profit to ₹1,353 crore
Tech Mahindra shares down 2% to Rs 1,427.80 after a positive opening at Rs 1,470.20 and soaring to Rs 1,473.90.
The company reported a 16 percent annual increase in net profit of ₹1,353 crore in the March-ending quarter
- April 23, 2026 09:45
Sensex, Nifty slide over 0.8% at open as crude surge, FII selloff and geopolitical risks weigh
Sensex, Nifty slide over 0.8% at open as crude surge, FII selloff and geopolitical risks weigh
Sensex and Nifty drop over 0.8% as crude prices rise, FII selloff, and geopolitical risks impact Indian markets.
- April 23, 2026 09:42
Oracle Financial Services Software Limited Q4FY26 Results
Revenue 2065.20 Cr vs 1716.30 Cr
(+20.33% YoY┃+5.05% QoQ)
EBITDA 1056.30 Cr vs 764.70 Cr
(+38.13% YoY ┃+28.88% QoQ)
EBITDA Margin 51.15% vs 44.56% YoY & 41.69% QoQ
PBT 1120.10 Cr vs 839.00 Cr
(+33.50% YoY┃+30.64% QoQ)
PAT 841.70 Cr vs 643.90 Cr
(+30.72% YoY┃+38.07% QoQ)
- April 23, 2026 09:41
Morning Updates
Nifty Highest OI
(28th April Expiry)
Call:26000/Put: 23000
Nifty 50 EMA - 24227
Nifty 200 EMA- 24808
Nifty Spot - 24378
Nifty 100 PE - 21.1
Nifty 50 PE - 21.3
Nifty PCR. - 0.96
Nifty Cash Market Volume- 122k Cr
FII Index Long Futures decreased to 22% from 23%
S&P 500 : -0.63%
Brent Futures : 102.2
Dollar Index : 98.6
USD INR. : 93.8
- April 23, 2026 09:41
Market analysis by Vikram Subburaj, CEO, Giottus.com
April 23, 2026
Bitcoin traded at $77,897 on April 23, with an intraday high of $79,426 and a low of $77,204. That keeps the market close to the upper end of its recent range, but not yet through the next clear supply zone. Near-term resistance lies in the $78,000- $80,000 band. The immediate support is around $77,200 and then closer to $75,000 if momentum fades. The current setup is firm, but it is still a test of breakout strength rather than a confirmed expansion leg.
The more interesting signal is that the move is not dependent solely on price. Analysts said on April 23 that Bitcoin has reclaimed the True Market Mean area near $79,000, while the broader realised price remains far lower at about $54,900. At the same time, 30-day realised volatility has eased to around 40.7% from 49% at the start of April. That indicates a market still not free of selling pressure. Short-term holder realised profit has also risen to about $4.4 million per hour. This suggests that supply is beginning to reappear as price climbs.
Institutional flows remain the key support under this rally. U.S. spot Bitcoin ETFs have taken in about $1.87 billion so far in April, up from $1.32 billion in March. Into April 23, the tape showed a steady run of inflows. There was an inflow of roughly $186 million on April 15 and $11.84 million on April 21. This extended the inflow streak to six sessions. Last week’s aggregate net inflow was about $996.4 million. This was the strongest weekly number since mid-January. Also, this is the clearest reason Bitcoin has held the high-$70,000 zone.
Macro risk has not disappeared. The next FOMC meeting is on April 28-29. The U.S. advance Q1 GDP estimate and the next PCE inflation release are both due on April 30. Those releases matter because crypto is again trading as a liquidity-sensitive risk asset. The recent improvement in sentiment has also been helped by easing geopolitical stress in West Asia. This lifted broader risk appetite and helped Bitcoin recover more than 21% from its March 30 low.
Altcoins are participating, but without a broad speculative surge. CoinMarketCap shows Ethereum at $2,361.72, up 0.72% in 24 hours; XRP at $1.42, down 1.31%; BNB at $636.18, down 0.17%; Solana at $86.29, down 0.85%; and Dogecoin at $0.096215, up 0.92%. That tells us the market is still Bitcoin-led. The broad read for April 23 is simple: ETF demand has improved, on-chain structure has stabilised, and macro risk has eased slightly. But the market still needs a clean move above $80,000 to prove that this is more than a strong rebound.
Our advice: Bitcoin is holding above the $75,000-$77,000 support zone, while ETF inflows of nearly $1.87 billion in April suggest institutional participation remains active. Investors should avoid chasing momentum near the $80,000 resistance band and instead consider staggered entries during pullbacks. With the April 28-29 Fed meeting and April 30 inflation data approaching, volatility could increase sharply. Maintaining partial exposure in cash or stable assets may help manage risk during macro-driven swings.
- April 23, 2026 09:35
Coforge secures USD 550 million loan facility; shares flat at ₹1,232.40
Coforge Limited has informed the Exchange about Facility agreement for availing of a loan facility of up to USD 550 Million
Shares flat on the NSE at Rs 1,232.40.
- April 23, 2026 09:35
Trent reports 13% rise in FY26 net profit to ₹1,741 crore; shares flat
Trent shares flat on the NSE at Rs 4,451.60 after opening at Rs 4,440 and soaring to Rs 4,460. It reported a 13 per cent rise in consolidated net profit to ₹1,741 crore in FY26.
- April 23, 2026 09:35
MAX HEALTHCARE | AGGRESSIVE EXPANSION & MEDICAL TOURISM PUSH
FY27 Capacity Plans
- Adding ~1,200 new beds in FY27 — taking total capacity to ~6,500 beds
- Long-term goal: 10,000 beds over next 3–4 years via Centres of Excellence
- Rs 6,000 crore investment announced by 2028 to add 3,700 beds across key locations
- Capex to be funded entirely through internal accruals
Recent Milestones
- Launched new 400-bed tower at Max Smart Speciality Hospital, Saket (Delhi)
- New tower houses 120+ critical care beds, 10 modular OTs, advanced Cath Labs
- Saket complex now has 1,160+ beds across 35+ specialties
- Acquired controlling stake (58.4%) in 250-bed Kalinga Hospital, Bhubaneswar — first foray into eastern India
- Opened 300-bed facility in Mumbai; 200-bed unit in Mohali; 500-bed Gurgaon facility expected in 6–7 months
Acquisition Playbook
- Eyeing 10+ acre land parcel in a city centre with existing 250-bed facility, expandable to 800–1,000 beds
- Mirrors earlier playbook in Lucknow & Mumbai — acquire, renovate, turn around
Expansion Strategy
- CMD Abhay Soi: ~20 cities identified as expansion targets due to low penetration
- Entry filter: cities where at least 2 peers already operate viably
- Target: 20–25% pre-tax ROCE within 4–5 years of investment
Medical Tourism Push
- Overseas offices now at 23 globally, up from just 2 four years ago
- Patients currently arriving from 145 countries; medical tourism growing at 25% annually
- Saket facility positioned to make Delhi-NCR a hub for medical value travel
- Fully aligned with Centre’s ‘Heal in India’ initiative
Key Takeaway
- Max Healthcare is executing one of India’s most aggressive hospital expansion blueprints
- Combination of brownfield acquisitions, greenfield builds & medical tourism strategy positions it well for the next growth decade
- April 23, 2026 09:34
Nifty today: Top gainers, losers at this hour of trade
Top gainers of Nifty 50: Dr Reddy’s Lab (+2.42%), ONGC (+1.53%), Cipla (+0.40%), Coal India (+0.39%)
Top losers: SBI Life (-2.76%), IndiGo (-2.26%), M&M (-1.93%), UltraTech (-1.88%)
- April 23, 2026 09:34
Jindal Stainless launches brand campaign Jindal Saathi Seal Hai, Toh Asli Stainless Steel Hai with Ranveer Singh
- April 23, 2026 09:34
Crude oil rises as US–Iran talks stall and Strait of Hormuz remains shut; Brent tops $103
Crude oil futures traded higher on Thursday as diplomatic efforts to hold talks between the US and Iran did not gain momentum, and the Strait of Hormuz remained closed for vessel movements. At 9.17 am on Thursday, June Brent oil futures were at $103.35, up by 1.41 per cent, and June crude oil futures on WTI (West Texas Intermediate) were at $94.60, up by 1.76 per cent. May crude oil futures were trading at ₹8937 on Multi Commodity Exchange (MCX) during the initial hour of trading on Thursday against the previous close of ₹8723, up by 2.45 per cent, and June futures were trading at ₹8510 against the previous close of ₹8350, up by 1.92 per cent.
- April 23, 2026 09:30
Brent tops $100 again amid supply fears after Iran seizes vessels in Hormu
Crude oil rises above $103 as US-Iran tensions and Strait of Hormuz disruption fuel supply fears
Crude oil prices rise above $103 as US-Iran talks stall and Strait of Hormuz disruptions tighten supply, raising global energy concerns and market volatility.
- April 23, 2026 09:22
Gold falls on oil-driven inflation fears; US-Iran developments in focus
Gold falls on oil-driven inflation fears; US-Iran developments in focus
Gold prices dip amid inflation concerns driven by rising oil costs and US-Iran tensions, impacting market outlook.
- April 23, 2026 09:22
Rupee may weaken past 94, oil surge wipes large part of relief rally
Rupee may weaken past 94, oil surge wipes large part of relief rally
The rupee may drop below 94 as oil prices surge, ending the recent relief rally amid ongoing supply concerns.
- April 23, 2026 09:21
OPENING BELL: Sensex drops over 800 points, Nifty slips below 24,200 in early trade
Sensex traded 814.86 pts or 1.04% lower at 77,701.63 at 9.16 am after opening at 77,983.66 from the previous close of 78,516.49, and Nifty 50 fell 186.25 pts or 0.76% to 24,191.85.
- April 23, 2026 09:09
Brokerage Recommendations
Trent
CITI: Sell, TP Rs 4100. Revenue +20% YoY beat est by 2%, EBITDA/PAT +40%/30% beat by 12%/23%. EBITDA beat GM-led: +171bps YoY to 44.3% vs Citi 42.5%. GM likely benefited from inventory provisioning reversal. Strong opex control: employee/rent per sq ft -19%/-11% YoY. Board approved Rs25bn equity raise for store upgrades, new formats, supply chain, select retail real estate for Star.
Bernstein: O-P, TP Rs 5000. Back on track with growth + margin beat. Rights issue doesn’t excite. Qtr delivered 20% growth + margin expansion. Medium term: expect 20% growth, stable 11% Operating EBIT margin. Near term watch: macro headwinds — input cost inflation, supply disruptions, demand uncertainty. Need more details on rights issue usage.
HSBC: Buy, TP Rs 4830. EBITDA beat consensus by 15% driven by higher gross margins. LFL was low-single digits for fashion concepts. Rs25bn fund raise announced; await granularity. Star business expansion monitorable. Key downside risk: store productivity hit from competition driving multiple compression.
Jefferies: Hold, TP Rs 4675. Strong 4Q on store expansion, esp Zudio, and improving LFL. Op leverage + self-help drove ∼40% YoY Op EBITDA growth, well ahead of est. Mgmt cautious on near-term demand due to geopolitical uncertainty, may feed into higher costs. Focus on densifying key markets + smaller cities expansion.
Morgan Stanley: Overweight, TP ₹4835. Q4: Margin Beat. Consumer sentiment stable, discretionary spending moderated on macro uncertainties. Saw early raw material inflation + supplier labour tightness, mitigated via calibrated sourcing. Strategy intact to drive share in proximate markets.
Tech Mahindra
CITI: Sell, TP Rs 1275. Inline 4Q EBIT vs est. Subcontractor expenses +17% QoQ, 12% of revenue vs 10.7% QoQ. OCF/EBITDA TTM 68% vs 83% YoY. Commentary: Accelerating AI-led transition; on track for FY27 commitments — above peer avg growth & 15% EBIT margins. Deal TCV net new +41% YoY TTM. IT headcount -6.5% YoY; utilization near highs. Valuations 19.2x FY27E EPS vs HCLT 17.6x, TCS 16.3x, Infosys 16.5x price in positives.
HSBC: Buy, TP Rs 1780. Good quarter, reiterated FY27 targets: 15% EBIT margin + above-peer revenue growth. Telecom strong vertical, driven by European telco market share gains. Expect higher medium-long term earnings growth vs larger peers.
Jefferies: U-P, TP Rs 1225. Revenues/margins in line, profits missed on Fx losses. Raise EPS 2-3% on INR depreciation. Strong deal wins, improving comms vertical outlook + margins support 3.6%/13% CAGRs in cc revenues/EPS over FY26-29. 16% premium to Infosys limits upsides.
SBI Life
Jefferies: Buy, TP Rs 2550. Q4 VNB 4%/6% below FactSet/JEFe on lower margin. Still expect: (i) positive surprise to FY27e VNB margin guidance 27-28%, JEFe 28.3%, (ii) APE momentum in SBI to sustain in FY27, JEFe 12%. Translates to 17% FY27e VNB growth vs 14% for HDFCL/IPRU. See limited risk of open architecture in SBI; SBI Life better navigating commission regs due to lower costs.Nomura: Buy, TP Rs 2440. Tough year, but managed well. Aims 14% YoY APE growth near term. Healthy delivery on operating variance — far ahead of peers; best-in-class ROEVs. No communication on “open architecture” for parent bank. Stable performance through disrupted times deserves premium valuation.
HSBC: Buy, TP Rs 2270. 4QFY26: margin impact due to APE growth slowdown / GST reforms. Non-SBIN channel growth encouraging. Investments in new non-linked products + channels should deliver higher than industry APE growth. STK offers ∼18% CAGR in EV FY26-29e.
Morgan Stanley: Overweight, TP ₹2340, Earlier ₹2375. FY26 EV operating profit beat est by 6% on materially positive operating variance. FY26 EV beat by 0.2%. VNB missed by 5% on lower group protection APE and lower VNB margin. FY27 guidance: APE growth 14%, VNB margin 27-28%. With solid ROEV, better persistency + positioning on commission payouts, risk/reward strong.
MOSL: Buy, TP Rs 2350. In-line performance; VNB margin within guided range. Mgmt confident of sustaining 14% APE growth. With improving product mix & GST impact baked in, VNB margins expected 27-28%. Continued shift toward non-ULIP products.
Havells
CLSA: O-P, TP Rs 1535. Weak 4Q, Ebitda -6% YoY, below est. Revenue +2% YoY. Cables & wires + renewables solar positive surprise. Unseasonal rains, slow summer start, pre-buying hit cooling products. Low base + harsher summer augur well for 1Q27 growth. Consensus upgrades key to rerating.
HSBC: Buy, TP cut to Rs 1560. Q4 unimpressive: net revenue +2% YoY. Lloyd revenue -19% YoY. C&W and solar good — strong revenue growth + contribution margins. Cut estimates, mainly ECD and Lloyd segment.
Nomura: Buy, TP Rs 1620. 4QFY26 ahead; consumption recovery key catalyst. Normal summer to drive growth recovery; margin improvement gradual amid cost pressures. Cut revenue 4%, EBITDA margins by 60/10bp to 10.7%/11.4%, leading to 11%/6% EPS cuts.
Macquarie: Outperform, TP ₹1588. Good quarter; macro outlook lends demand risk. Margin surprises, macro uncertainty poses growth headwind. Cables continue to lead growth. Like diversified mix, strong brand, premium positioning. Near term: growth/margin risk led by macro uncertainty due to Middle East conflict.
Jefferies: Hold, TP ₹1290. Cables the bright spot; higher other income. Sales traction in Cables offset consumer products decline. Lloyd posted EBIT loss for 4th quarter. Est FY26-28e EPS at 20% CAGR; valuations 5% above 10-year avg.
Citi: Neutral, TP ₹1500, Earlier ₹1600. More misses than hits. Revenue growth disappointed across segments. Rising competitive intensity from new entrants in Cables and Wires likely to keep margins under pressure. Growth + margin improvement key for re-rating.
MOSL: Neutral, TP Rs 1349. Strong C&W momentum; ECD and Lloyd subdued. Mgmt: inventory gains + year-end adjustments supported strong margin recovery in C&W and Lighting. Industrial/infra-linked segments strong; consumer-facing subdued on cost pressures. Demand for cooling products recently picked up, optimistic on summer demand revival. Refrained from growth guidance due to evolving macro. Focus: efficiency, brand building, innovation, distribution expansion.
L&T Technology Services
JPM: Neutral, TP Rs 3600. Starting FY27 on clean slate post SWC business sale + exiting low-margin Hitech projects, $19mn annual rev headwind. Expects 1Q growth across all 3 verticals on deal rampups. Sustainability to continue growth; Auto growth returning as 40% of 4Q large deals here. Exit from low-margin biz should accelerate margin expansion. Brought forward guidance: 16.5% margins on or before 4QFY27 vs earlier 4QFY27-1QFY28. Increase EPS 2-3% on margin benefits from SWC sale + FX tailwinds.
ICICI Securities: Hold, TP ₹3380, Earlier ₹3550. Robust post-clean-up outlook; automotive sees stability. Portfolio rationalisation dims performance. Cut FY27-28E EPS 5-6% on weaker hi-tech growth. FY27 revenue growth likely mid-single-digits amid strategic pivot, leadership changes, macro uncertainty.
Nomura: Neutral, TP ₹3510, Earlier ₹3300. Starting on clean slate in FY27; restructuring complete. Deal wins strong, pipeline robust. Project Lakshya: aspires 13-15% revenue CAGR, EBIT margins ~mid-16%. Aspiration may include tuck-in acquisitions, could dilute margins.
JPMorgan: Neutral, TP ₹3600, Earlier ₹3500. Starting on clean slate. Expects Sustainability growth momentum; Auto growth returning. Exit from low-margin businesses should accelerate margin expansion. Wait to see positive proof points of new strategy.
Tata Communications
CLSA: O-P, TP Rs 2280. Q4 consol revenue Rs65.5bn, +9% YoY/+6% QoQ, above est. Data revenue +12% YoY/+6% QoQ, 87% of consol revenue, driven by digital portfolio 51% share, +19% YoY/+9% QoQ. Consol Ebitda Rs12.8bn, +14% YoY/+5% QoQ. New CEO commentary robust; largely retain forecasts offering 15% consol Ebitda CAGR by FY29CL.
Macquarie: Outperform, TP ₹2210. March-Q: Better growth, margins mixed. Q4 earnings below driven by lower data services profitability + higher tax. Tata Comm is a Marquee Buy Idea. See path for shares to double over 3 years in bull case.
IndiGo
Morgan Stanley: Overweight, TP ₹5913, Earlier ₹6498. Near-term turbulence, intact structural resilience. India airlines face headwinds: sharp oil price rise, weaker demand, currency depreciation. Building weak H1FY27 followed by gradual H2FY27 recovery. FY28 EV/EBITDA seen at ∼8x vs 10Y median ∼9x. Strong cost moats + balance sheet keep us overweight.
Dixon Tech
UBS: Buy, TP cut to Rs 13800. Near-term headwinds but priced in; well positioned long term. Higher smartphone prices to drag FY27E organic volumes; recovery FY28E. FY27E margins could see impact as backward integration ramps FY28E. Key risks: further delays in PN3 approvals for Vivo JV ∼20% of FY28E EPS, or worsening memory chip shortage.Sector / Strategy
BofA India Strategy: Reiterating cautiousness on valuation-led rally. Capital goods stocks near upcycle valuations despite mid-cycle earnings growth. Could correct meaningfully on broader market sell-off. Reiterate non-consensus cautious view on capital goods. Est +10% capex CAGR FY26-28 vs consensus +15%. Street underestimating Iran conflict fallout on private/central/state capex. Slowing capex cycle — multiple downside risks ahead. Given stretched valuations + earnings risks, remain cautious with 5 of 6 Industrials rated Underperform. See select opportunities: Power (Transformers, Wires & Cables), Data Centers (Gensets), Shipbuilding, Defence.
- April 23, 2026 09:05
Rupee may weaken past 94, oil surge wipes large part of relief rally
Rupee may weaken past 94, oil surge wipes large part of relief rally
The rupee may drop below 94 as oil prices surge, ending the recent relief rally amid ongoing supply concerns.
- April 23, 2026 08:56
HSBC: Downgrade India to Underweight (from Neutral) as potential inflation and demand pressures are likely to impact earnings growth.
Downgrade India to underweight, from neutral. Given India’s reliance on imported energy and the potential knock-on effects on inflation and domestic demand, we are concerned about the durability of the ongoing earnings recovery. We expect consensus forecasts to be revised down in the coming months from current expectations of 16% y-o-y for 2026. While valuations have corrected materially from their peak, they will appear elevated as earning downgrades feed through. India looks less attractive than its North East Asian peers in the current macro environment.
- April 23, 2026 08:53
Stock market
EQUITY PREVIEW
- Bandhan Bank (BANDHAN): Gets RBI prior approval to appoint Debasish Panda as part-time chairman for three years
- Bharat Electronics (BHE): Gets orders worth 5.69 billion rupees
- Delta Corp (DELTA): 4Q Net Income 164.5M Rupees Vs. 1.65B Rupees Y/y
- Eveready (EVRIN): Starts alkaline battery factory with production capacity of 360m batteries/year in Jammu
- InterGlobe Aviation (INDIGO): Delta, Indigo enter 8-yrs contract on CFM56-5B maintenance
- Infosys (INFO): Ties Up With OpenAI on Enterprise AI Solutions
- Jio Financial (JIOFIN): Jio Financial, Allianz Form General Insurance JV, Plan Life JV
- Kajaria Ceramics (KJC): To consider share buyback plan on April 30
- L&T Technology (LTTS): 4Q Net Income INR3.32b, Misses Estimates
- Oracle Financial Services Software (OFSS): 4Q Net Income 8.42B Rupees Vs. 6.44B Rupees Y/y
- SBI Life Insurance (SBILIFE): 4Q Net Income -1% Y/y to INR8.05b, Misses Estimates
- Tata Communications (TCOM): 4Q Net Income 2.63B Rupees Vs. 10.4B Rupees Y/y
- Tata Steel (TATA): Partners with Google Cloud for Unified Agentic AI
- Tech Mahindra (TECHM): 4Q Net Income +16% Y/y to INR13.5b, Misses Estimates
- Trent (TRENT): 4Q Net Income +30% Y/y to INR4.54b, Beats Estimates
- Zodiac Energy (ZODIAC): Got LoI for $3.29m Zambia Solar PV Power plant
- April 23, 2026 08:52
Stock market
Macro and market update this morning
India’s fertiliser sector witnessed a sharp slowdown in FY26, with production contracting 0.1% YoY—the weakest performance in 13 years and the first decline since FY13. The pressure intensified in March, with output under the eight core industries falling ~25% YoY, largely due to supply disruptions stemming from the Middle East conflict. On the trade front, India—the world’s largest urea importer—is securing supplies at significantly elevated prices. In the latest 2.5 mt tender, quotes are ~90% above pre-conflict levels (vs ~$490/tonne earlier), reflecting tightening global markets. Adding to supply constraints, Russia has extended fertiliser export quotas (20 mt for June–Nov) amid disruptions linked to the Iran conflict and bottlenecks in the Strait of Hormuz. Overall, near-term pressures on fertiliser production are likely to persist, amid El Niño risks and continued disruptions from the West Asia conflict.
Meanwhile, geopolitical risks in West Asia have escalated further. Iran’s state media reported that the Islamic Revolutionary Guards Corps attacked and seized vessels in the Strait of Hormuz, marking its first such action since the onset of its conflict with the US and Israel in February. These developments underscore rising risks to global trade routes and energy supply chains.
Against this backdrop, global financial linkages are also evolving. US Treasury Secretary Scott Bessent indicated that several Persian Gulf and Asian economies have sought foreign exchange swap lines with the US, potentially supporting dollar-denominated liquidity amid heightened uncertainty.
Meanwhile, South Korea’s economy demonstrated resilience, with GDP growing 3.6% YoY in Q1CY26, surpassing expectations of 2.7% and marking its strongest expansion since Q3 2020. On a sequential basis, GDP rose 1.7% QoQ (vs 0.9% expected), driven primarily by robust semiconductor exports amid rising AI-led demand.
Simultaneously, global edible oil markets are tightening. The Solvent Extractors Association (SEA) expects palm oil supply to remain constrained in FY27 due to biodiesel expansion, El Niño-related risks, and ongoing geopolitical tensions. Policy shifts—Indonesia moving to B50, Malaysia to B15, and Thailand to B20—are further tightening supply dynamics.
On the domestic policy front, the government has stepped in to mitigate supply-side risks. The Department for Promotion of Industry and Internal Trade (DPIIT) has implemented a series of measures—including customs duty waivers and expedited approvals via the Petroleum and Explosives Safety Organisation (PESO)—to ensure uninterrupted availability of fuel, gas, and key raw materials.
From a financial sector perspective, the RBI has proposed measures to strengthen the Prepaid Payment Instruments (PPI) framework, focusing on enhanced transaction security, clearer refund mechanisms, and improved grievance redressal.
Additionally, Deputy Governor T Rabi Sankar noted that recent rupee-related measures are temporary, while reiterating the central bank’s long-term commitment to currency internationalisation, even as timelines for rollback remain uncertain.
Asian market
Japan and South Korea stocks hit record highs, amid broader gains in other Asian markets followed by the US market after Trump’s ceasefire extension.Strong U.S. earnings lifted sentiment, pushing the Nasdaq to a fresh intraday record.
Brent: 102.19 DXY: 98.58 US10Y: 4.31 GIFTNIFTY: -0.42%
- April 23, 2026 08:49
Stock market
Indian bonds may dip on selling pressure as Brent surpasses $100 per barrel
Indian government bonds are expected to inch lower in early deals on Thursday, as Brent oil comfortably crosses $100 per barrel amid no clarity on resolving the conflict between the U.S. and Iran.
India’s benchmark 6.48% 2035 bond yield is expected to drift in a 6.90%-6.95% range, a private-bank trader said. It settled at 6.9225% on Wednesday.
- April 23, 2026 08:47
Forex
Rupee may weaken past 94, oil surge wipes large part of relief rally
The Indian rupee is set to extend its slide on Thursday and could weaken past 94 per U.S. dollar, pressured by oil climbing back above $100 a barrel, underscoring that the relief rally has run its course.
The rupee is expected to open in the 93.92-93.98 range, per traders, having settled at 93.7950 on Wednesday.
- April 23, 2026 08:46
Stock market
[Pre market quote by Gaurav Udani - Founder, ThinCredBlu Securities Ltd
Nifty is expected to open slightly lower around 24,450, down nearly 120 points, indicating some profit booking after the recent strong upmove.
Despite the mild dip, the index continues to trade above the 24,400 breakout zone, which keeps the overall structure positive. As long as this level holds on a closing basis, the bullish bias remains intact.
On the upside, 24,850–25,000 remains the next resistance zone to watch. On the downside, 24,300–24,400 will act as immediate support, where dips could attract buying interest.
The setup still favors a buy on dips approach, but traders should avoid chasing at higher levels and instead look for better entries near support.
Overall, the trend remains positive, with short-term consolidation possible after the recent rally.
- April 23, 2026 08:45
Fed likely to hold interest rates amid rising inflation concerns
Reuters poll of economists showed the U.S. Federal Reserve will likely wait at least six months before cutting interest rates this year as war-driven energy shocks reignite already-elevated inflation.
Traders now see a 23% chance of a 25-basis-point Fed rate cut in December, down from 28% a week ago. Before the war, there were expectations of two reductions for this year.
Spot silver fell 1.4% to $76.64 per ounce, platinum lost 1.3% to $2,048.25, and palladium was down 1% at $1,529.25.
- April 23, 2026 08:34
Sensex, Nifty to open lower as crude prices top $100 on Iran war uncertainty
Sensex, Nifty to open lower as crude prices top $100 on Mideast uncertainty
GIFT Nifty futures were trading at 24,158 points, as of 8:02 am, indicating that the benchmark Nifty 50 would open below Wednesday’s close of 24,378.1.
- April 23, 2026 08:24
Gold falls on oil-driven inflation fears; US-Iran developments in focus
Gold fell in choppy trade on Thursday as elevated oil prices fuelled fears of inflation and prolonged high interest rates, while investors looked for clarity on stalled peace talks between the U.S. and Iran.
Spot gold was down 0.7% at $4,705.09 per ounce, as of 0215 GMT. U.S. gold futures for June delivery fell 0.6% to $4,722.10.
Brent crude oil prices remained above $100 a barrel after larger-than-expected gasoline and distillate stock draws in the United States, and over a lack of progress on the peace talks.
(Reuters)
- April 23, 2026 08:18
Expert View | Vikram Kasat, Head Advisory, PL Capital | Trump's cease-fire extension, US Tech and earnings help lift markets
The Strait of Hormuz remains closed, oil prices have inched higher, and some investors are still understandably jittery. But Wall Street has mostly moved on from the conflict, treating this development as the latest sign that a peace deal will happen at some point.
The combination of improving Iran headlines, investor exhaustion over the volatility in March and a strong start to earnings season has helped to propel stocks to record highs
Once stocks reach new highs after a correction, like the one in March, the upward trend can last for some time, as corrections reset sentiment which allows stocks to climb higher.
Nifty 24378.10
A decisive breakout and sustained movement above 24680 hurdle is required to extend the broader upward trend toward the next target of 24900 If the market breaks below 24300, it could trigger a deeper corrective move to fill the underlying gap zone down to 23860
- April 23, 2026 08:04
Buzzing stocks for Thursday: BEL, Adani Green, Unimech, Eveready Ind, Jio Financial, Awfiis, Zodiac Energy, Umiya Tubes, Innovision
Stocks to watch for Thursday, April 23: Bharat Electronics, Adani Green, Jio Financial, Eveready
Stocks to watch for Thursday: Shares of BEL, Adani Green, Unimech, Eveready Ind, Jio Financial, Awfiis, Zodiac Energy, Umiya Tubes, Innovision are set to be in focus on Thursday following major announcements across defence, financial, nutrition, infrastructure and battery segments
- April 23, 2026 07:43
Stocks in News
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Dynamatic Technologies: Company has signed a Memorandum of Understanding (MoU) with Germany’s Aerodata AG, a specialist in aviation solutions. (Positive)
JSW Dulux: Company has received a favorable assessment, resulting in a massive reduction of its pending tax demand to Rs 15 crore from the initial Rs 101 crore. (Positive)
Innovision Limited: Company has secured Letter of Award for Rs 31.1 crore from the National Highways Authority of India. (Positive)
Omaxe Limited: Company has received RERA registration for ‘Omaxe Royal Nest’ in Ludhiana, Punjab (Positive)
VA Tech Wabag: Company launched new subsidiary for 45 MLD Water Treatment Plant in Chennai (Positive)
City Union Bank Ltd: Bank opened 5 new branches on April 22, 2026. (Positive)
Eveready: Company inaugurated India’s only operating alkaline battery manufacturing facility in Jammu (Positive)
Bharat Electronics Ltd: Company receives orders worth Rs 569 Cr for FY 2026-27; orders include avionics, EW system. (Positive)
Kajaria Ceramics: Company Board confirm board meeting on 30 April 2026 to consider buyback of shares, financial results and Final Dividend. (Positive)
Mazdock: Germany and India are set to finalise $8 bn submarine deal within next three months: Says German Defence Minister, Boris Pistorius. (Positive)
Enviro Infra Engineers: Company subsidiary EIE Renewables to acquire Pra Bihar Bess Private Limited for Rs 15.51 crore (Positive)
GNG Electronics: CARE upgrades Co’s rating to BBB (Positive)
Zodiac Energy: Company secured $3.3M Solar Project in Zambia with Battery Storage. (Positive)
Infosys: Company has announced strategic collaboration with OpenAI to accelerate enterprise AI Transformation and Unlock AI Value at Scale. (Positive)
OFSS: Net Profit Rs 842 Cr vs 610 Cr, Q4 Revenue Rs 2065 Cr vs 1965 Cr (YoY) (Positive)
Adani Green: Company’s arm, Adani Green Energy Twenty Six A, has operationalized a 292 MW solar project in Gujarat, taking the group’s total operational renewable capacity to 19,585.8 MW. (Positive)
Apollo Pipes: Ace Infracity Developers bought 3 lakh shares at Rs. 472 per share. (Positive)
Blackbuck: Quant Mutual Fund bought 9.20 lakh at Rs. 620 per share. (Positive)
Praj Industries, Tru Alt Bioenergy: Government allows blending of synthetic hydrocarbons in ATF (Positive)
Gujarat Gas: More than 7 mmscmd of gas contracts have been signed by Morbi factories for May month (Positive)
Sringar House: Sunder Iyer bought 5 lakh at Rs. 208 per share. (Positive)
Vodafone Idea: Company added 102899 users in March versus 21927 in February. (Positive)
Bharti Airtel: Company added 5.09 mln users in March versus 4.86 mln in February. (Positive)
Reliance Ind: Jio added 3.23 mln users in March versus 1.62 mln in February. (Positive)
Bengal Tea & Fabrics: Company to acquire Assam Tea Estate from McLeod Russel India for Rs 45 crore (Neutral)
Tech Mahindra: Company’s executive says looking at couple of tuck-in acquisitions over next year, but won’t be needle moving (Neutral)
Tata Communications: Net Profit Rs 260 Cr vs 1040 Cr, Q4 Revenue Rs 6550 Cr vs 5990 Cr (YoY) (Neutral)
Trent: Net Profit Rs 410 Cr vs 320 Cr (YoY); est 375 Cr, Q4 Revenue Rs 5028 Cr vs 4200 Cr (YoY); est 5060 Cr. Company approves bonus share issuance in ratio of 1:2, subject to shareholder approval (Neutral)
LTTS: Net Profit Rs 332 Cr vs 310 Cr; est 339 Cr. Q4 Revenue Rs 2858 Cr vs 2637 Cr (YoY); est 2963 Cr. (Neutral)
Texmaco Rail: Company won order worth Rs 7.67 Cr from South Western Railway for OHE (Overhead Equipment) and PSI maintenance outsourcing (Neutral)
Kaya Limited: Company informs that its wholly owned subsidiary, KME Holdings Pte. Ltd., has been dissolved as of April 22, 2026. (Neutral)
Jio Financial Services Limited (JFSL): Company has officially entered into a binding agreement with Allianz Europe B.V. to establish a 50:50 joint venture (JV) focused on the general and health insurance business in India. (Neutral)
SBI Life: Total APE of Rs 5750.0 Cr Vs Rs 5896.0 Cr, VNB at Rs 1630.0 Cr Vs poll Rs 1669.0 Cr (YoY) (Neutral)
Tata Steel: Company and Google Cloud expand partnership; to power enterprise-wide agentic AI strategy (Neutral)
AGI Greenpac: Company boosts Stake in MOB AI to 19.75% (Neutral)
Reliance Communications: CBI seized records related to bonds issue to LIC. (Neutral)
Shilpa Medicare: Company has announced the retirement of Dr. Jayant Karajgi, Chief Operating Officer (Neutral)
Amara Raja: Company clarifies that crossing 1 GWh of lithium battery deployment in the telecom sector is a cumulative milestone achieved over past years, not a new development. (Neutral)
Kirloskar Pneumatic: Board of Directors will consider the sub-division of equity shares (face value ₹2 each) at its upcoming meeting on April 27, 2026. (Neutral)
Eternal Limited: Board meeting on April 28, 2026, to approve the standalone and consolidated financial results. (Neutral)
Alembic Pharma: Incorporated new subsidiary: Alembic Lifesciences Philippines Inc. (Neutral)
Unimech Aerospace: Company to acquire 24% stake Hobel Bellows for Rs 450 cr (Neutral)
Vedanta: Company questions commercial wisdom, evaluation matrix in JAL insolvency; NCLAT reserves order. (Neutral)
Container Corp: Company has appointed Vivek Gupta as its new Chief Financial Officer and Director (Finance) for a 5-year term, effective April 21. (Neutral)
Sammaan Capital: BSE and NSE have cleared the company’s proposed demerger scheme involving Sammaan Finserve. (Neutral)
Circuit filter change from 20% to 10%: Anondita, Man Industries. (Neutral)
List of stocks included in short term ASM Framework: JNK India (Neutral)
Anlon Healthcare Ltd Ex-Date Tomorrow, Bonus issue 1:1, Stock Split From Rs.10/- to Rs.2/- (Neutral)
String Metaverse Ltd Ex-Date Tomorrow, Stock Split from Rs.10/- to Rs.1/- (Neutral)
Mold-Tek Packaging Ltd Ex-Date Tomorrow, Interim Dividend – Rs. – 2.0 (Neutral)
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Patanjali Foods Ltd Ex-Date Tomorrow, Interim Dividend – Rs. – 1.75 (Neutral)
Vega Jewellers Ltd Ex-Date Tomorrow, Bonus issue 4:1 (Neutral)
Windlas Biotech Ltd Ex-Date Tomorrow, Buy Back of Shares (Neutral)
CRISIL Ltd Ex-Date Today, Interim Dividend – Rs. – 9.0 (Neutral)
Huhtamaki India Ltd Ex-Date Today, Final Dividend – Rs. – 2.0 (Neutral)
Schaeffler India Ltd Ex-Date Today, Final Dividend – Rs. – 35.0 (Neutral)
AGS Transact: Company’s long-term rating on its bank facilities has been downgraded by CRISIL Ratings to CRISIL D (Negative)
Delta Corp: Net Profit at Rs 16.4 cr vs 164 cr , Revenues at Rs 161 cr vs Rs 182 cr (YoY). (Negative)
- April 23, 2026 07:15
Jio Financial, Allianz form 50:50 JV to enter India’s general and health insurance market
Jio Financial Services and German insurer Allianz have signed a binding 50:50 joint venture agreement to launch a general and health insurance business in India. The partnership will combine Jio’s massive digital distribution network with Allianz’s global expertise in underwriting and risk management, aiming to offer simple, affordable protection products to individuals and businesses in India’s underpenetrated insurance market. Operations will start after receiving necessary regulatory approvals. This follows an earlier non-binding agreement announced in July 2025 and builds on their existing reinsurance partnership. A separate life insurance JV is still under discussion.
- April 23, 2026 07:15
Weekly rupee view: Near-term support ahead
Weekly rupee view: Near-term support ahead
Rupee faces critical support at 93.70; a drop below could lead to further declines amid rising oil prices.
- April 23, 2026 07:07
MCX Copper: Uptrend likely to resume
MCX Copper: Uptrend likely to resume
The MCX Copper Futures contract can rise to ₹1,350-₹1,400
- April 23, 2026 06:55
Trading Guide for April 23, 2026: Intraday supports, resistances for Nifty50 stocks
Day Trading Guide for April 23, 2026: Intraday supports, resistances for Nifty50 stocks
Get essential intraday support and resistance levels for Nifty50 stocks to enhance your day trading strategies on April 23, 2026.
- April 23, 2026 06:47
Stock to buy today: Praj Industries (₹382.50) – BUY
Stock to buy today: Praj Industries (₹382.50) – BUY
Praj Industries share price can rise to ₹440 in the coming weeks. Traders can buy Praj Industries shares at ₹382
Published on April 23, 2026
