28/04/26, Market Hours News

 The Indian equity benchmarks were little changed on Tuesday, April 28, mirroring subdued trend in other Asian markets after crude oil inched closer to $110 per barrel ahead of monthly expiry of NIFTY50, NIFTY Bank and stock futures and option contracts.

The SENSEX fell as much as 331 points and NIFTY50 index touched an intraday low of 23,999 dragged down by losses in index heavyweights like State Bank of India, Infosys, Axis Bank, Bajaj Finserv, Reliance Industries, HDFC Bank and ICICI Bank.

As of 9:28 am, the SENSEX was down 38 points at 77,265 and NIFTY50 index advanced 26 points to 24,120.

Asian markets were trading lower on Tuesday as crude oil prices surged close to $110 per barrel.

Japan's Nikkei fell 0.6%, Hong Kong's Hang Seng declined 0.54%, China's Shanghai Composite dropped 0.11% and South Korea's KOSPI rose 0.9%.

Overnight, US stock market's record-breaking rally slowed on Monday after uncertainty rose over the weekend about what will happen next in the Iran war, while oil prices rose.

S&P 500 index rose 0.12%, Dow Jones Industrial Average declined 0.13% and tech heavy Nasdaq advanced 0.2%.

Back home, eight of 15 sector gauges compiled by the National Stock Exchange (NSE) were trading lower led by the NIFTY PSU Bank index's 1.2% fall. PSU banks came under selling pressure after the Reserve Bank of India on Monday issued final directions for a new framework for asset classification, provisioning and income recognition, anchored around Expected Credit Loss (ECL) model.

NIFTY Realty, Healthcare, Bank, IT and Pharma indices were also trading with a negative bias.

On the flip side, consumer durables, oil & gas, metal and auto stocks were witnessing a mild buying interest.

Broader markets were outperforming their larger peers as NIFTY Midcap 100 index rose 0.15% and NIFTY Smallcap 100 index advanced 0.7%.

Among the individual shares, Punjab & Sind Bank fell as much as 2% to hit an intraday low of ₹25 after it reported a 35% jump in net profit at ₹422 crore for the January-March period of FY26 (Q4 FY26), aided by a decline in bad loans.

Total income moderated to ₹3,457 crore from ₹3,836 crore seen a year ago, Punjab & Sind Bank said in a regulatory filing. Interest income too declined to ₹3,030 crore from ₹3,159 crore.

Coal India was top gainer in the NIFTY50 index, the stock rose nearly 5% to ₹473 after the state-owned miner on Monday reported an 11.1% rise in consolidated net profit to ₹10,839.18 crore in the March quarter, driven by higher revenue.

Coal India Ltd (CIL) logged a consolidated net profit of ₹9,751.64 crore in the year-ago period.

Adani Enterprises, ONGC, Tata Steel, Grasim Industries, Mahindra & Mahindra, JSW Steel and Eicher Motors also rose between 0.97% and 2%.

On the other hand, Eternal, Trent, Infosys, UltraTech Cement, InterGlobe Aviation, HCL Tech, State Bank of India, Hindustan Unilever and Tata Consumer Products were top losers in the NIFTY50 index.

The overall market breadth was positive as 1,776 shares were advancing while 1,020 were declining on the NSE.

Source:Upstox

28/04/26, Goldman Sachs on steel

 Goldman Sachs sees India’s steel sector entering a phase where domestic demand is expected to drive growth over the next several years. The brokerage has initiated coverage on five ferrous companies and placed selective bets based on capacity expansion, raw material access, and infrastructure strength. 

Among these, JSW Steel and Shyam Metalics have been rated ‘Buy’, while Tata Steel and Jindal Steel have got a ‘Neutral’ call. Goldman Sachs recommended ‘Sell’ on NMDC. The report builds its case around rising domestic consumption, improving profitability, and  company-specific strengths that could play out through FY32.

Goldman Sachs on JSW Steel: ‘Buy’

Goldman Sachs has initiated coverage on JSW Steel with a ‘Buy’ rating and a target price of Rs 1,490, implying an upside of 18.5%. The brokerage expects the company to expand crude steel capacity to 50 million tonnes per annum by FY31E from 36.4 million tonnes per annum in FY26E, with a longer-term plan to reach 75 million tonnes per annum. It estimates EBITDA per tonne for the India business to rise to around Rs 14,000 by FY28E from Rs 8,850 in FY25, driven by operating leverage and a richer product mix. 

The firm also expects improvement in iron ore security to 50% by FY30E from 37% in FY25 and coking coal security to reach 25% from nil over the same period. The stock is currently trading at 7.9 times FY28 estimated EBITDA, while the target is based on 9 times.

“JSW Steel is the fastest growing in terms of capacity player in the India steel space,” Goldman Sachs says in the report.

Goldman Sachs on Shyam Metalics: ‘Buy’

Goldman Sachs has also placed a Buy rating on Shyam Metalics with a target price of Rs 1,065, implying an upside of 28.9%. The brokerage points to the company’s diversified exposure across carbon steel, stainless steel, and aluminium downstream products, along with its relatively low net debt to EBITDA ratio and consistent margin profile. 

The firm believes this mix gives it better resilience compared to peers and positions it well to benefit from demand growth across segments.

“Shyam Metalics offers horizontal exposure across Carbon steel, Stainless steel and Aluminum products with consistent EBITDA margins,” Goldman Sachs adds.

Goldman Sachs on Tata Steel: ‘Neutral’

Goldman Sachs has initiated Tata Steel with a ‘Neutral’ rating and a target price of Rs 210, indicating a marginal downside of 0.5%. The brokerage expects standalone EBITDA per tonne to improve to Rs 15,453 by FY30E, supported by cost reduction efforts and operational improvements. 

However, it remains cautious due to the potential increase in iron ore costs after FY30 when key mines such as Noamundi and Joda may be auctioned. While Tata Steel has 100% captive iron ore and 25% captive coking coal at present, which gives it an edge in raw material security, reliance on third-party logistics remains a constraint. The stock is currently trading at 7.2 times FY28 estimated EBITDA.

“While we expect structural EBITDA improvement till FY28E across divisions, we believe the uncertainty on iron ore cost post FY30E to likely weigh on valuation,” Goldman Sachs said.

Goldman Sachs on Jindal Steel: ‘Neutral’

Goldman Sachs has assigned a Neutral rating to Jindal Steel with a target price of Rs 1,335, implying an upside of 6.5%. The brokerage acknowledges the company’s ongoing capacity ramp-up and cost reduction potential, which could support earnings growth over time. However, it believes current valuations already capture much of this optimism. The firm notes that while Jindal Steel has completed its brownfield expansions and is improving operational efficiency, it does not see enough headroom for significant re-rating at present levels.

“We are positive on its capacity ramp-up, cost reduction potential, and strong leverage, however, we see current valuations as fair,” Goldman Sachs said.

Goldman Sachs on NMDC: ‘Sell’

Goldman Sachs has taken a negative stance on NMDC with a Sell rating and a target price of Rs 84, suggesting a downside of 3.8%. The brokerage expects the company’s mid-term earnings to face pressure due to slow progress in diversification efforts. 

It also points out that the stock is trading at 6.4 times, which is above one standard deviation of its 10-year average, making the risk reward less favourable.

“Mid-term earnings to be impacted by the slow progress in diversification projects; negative risk-reward with the stock trading at 6.4x, above 1std dev. of 10-year mean,” Goldman Sachs adds.

Conclusion

Goldman Sachs builds its coverage on the belief that India’s steel demand will grow strongly, supported by sectors such as construction, automobiles, and energy transition. It expects domestic consumption to reach twice the FY23 level by FY32E and sees India contributing meaningfully to global steel demand growth in the current decade. 

Within this backdrop, the brokerage prefers companies that combine capacity expansion with stronger raw material linkages and logistics capabilities.

Source: FinancialExpress

Disclaimer: The above article is for educational purpose only. Not the trading advice 

28/04/26, IDFC FIRST Bank vs INDUS IND Bank

Two private sector bank stocks are in focus after their Q4 results. IDFC First Bank and IndusInd Bank declared their results recently. While both banks have shown margins and asset quality recovery, its been a resilient quarter for IDFC First Bank amid fraud-related overhang. 

One bank is sustaining high margins with steady growth, while the other is rebuilding profitability after a stress cycle. The numbers across both institutions show that the operating model has moved away from margin expansion toward execution on asset quality and cost discipline.

IDFC First Bank vs IndusInd Bank: NIMs stabilise as cost tailwinds fade

IDFC First Bank reported a net interest margin of 5.93% in Q4 FY26 compared with 5.75% in Q3 FY26, up 18 bps QoQ, while remaining broadly stable from 5.95% in Q4 FY25, down 2 bps YoY. The improvement was driven by a decline in cost of funds to 6.00% in Q4 FY26 from 6.11% in Q3 FY26.

Despite this, forward estimates indicate limited upside. Brokerage estimates suggest NIM is likely to remain around 6.1% through FY27 to FY29, as benefits from lower funding costs are offset by portfolio mix changes toward retail lending.

IndusInd Bank reported a net interest margin of 3.39% in Q4 FY26 compared with 3.35% in Q3 FY26, up 4 bps QoQ.

On a full-year basis, margins declined to 3.6% in FY26 from 3.8% in FY25, reflecting pressure from lower yields and subdued loan growth.

The margin trajectory across both banks now points to stability rather than expansion, with incremental gains expected to remain limited.

IDFC First Bank vs IndusInd Bank: Credit costs become the key earnings driver

IndusInd Bank’s Q4 FY26 earnings were driven by a sharp decline in provisions. Provisions fell to Rs 1,482 crore in Q4 FY26 from Rs 2,086 crore in Q3 FY26, down 29% QoQ, leading to a significant improvement in profitability.

Profit after tax increased to Rs 594 crore in Q4 FY26 from Rs 128 crore in Q3 FY26.

In the analyst call opening remarks, IndusInd Bank management said:
“Net slippages were down 37% QoQ resulting in lower provisioning during the quarter. Annualized net slippages were at 1.71% versus 2.65% QoQ.”

The management added: “The overall stress book continues to moderate with QoQ decline in Net NPA, Net Security Receipts and Restructured book and these trends give us confidence that credit costs are past their peak, subject to macro stability and seasonality.”

JM Financial noted that calculated credit cost declined 73 bps QoQ, supported by improving asset quality across portfolios.

IDFC First Bank also saw stable underlying profitability despite one-offs. The bank recognised Rs 480 crore toward provisions linked to the Haryana government-related fraud, which impacted reported earnings.

Excluding these impacts, normalized profit after tax rose to Rs 746 crore in Q4 FY26 from Rs 504 crore in Q3 FY26, up 48% QoQ.

The earnings trajectory for both banks is now being driven more by provisioning trends than margin expansion.

IDFC First Bank vs IndusInd Bank: Growth momentum diverges sharply

IDFC First Bank continues to report strong balance sheet growth. Gross advances increased to Rs 2.83 lakh crore as of March 31, 2026 from Rs 2.36 lakh crore as of March 31, 2025, up 20% YoY, while total deposits rose to Rs 2.94 lakh crore from Rs 2.51 lakh crore, up 17% YoY.

The bank remains focused on retail-led growth, with CASA deposits at Rs 1.46 lakh crore and CASA ratio at 49.8% in Q4 FY26.

IndusInd Bank continues to operate in a recalibration phase. Loans declined to Rs 3.15 lakh crore in Q4 FY26 from Rs 3.44 lakh crore in Q4 FY25, down 8% YoY, while average loans declined 2% QoQ.

Deposits declined to Rs 3.99 lakh crore in Q4 FY26 from Rs 4.12 lakh crore in Q4 FY25, down 3% YoY, although they increased 2% QoQ.

Metric	IDFC First Bank	IndusInd Bank
NIM	5.93%	3.39%
QoQ NIM Change	+18 bps	+4 bps
PAT (₹ cr)	746*	594
Provisions (₹ cr)	480	1,482
Loan Growth YoY	+20%	-8%
Deposit Growth YoY	+17%	-3%
GNPA	1.61%	3.43%
NNPA	0.48%	1.00%
CRAR	15.60%	17.48%
Credit Cost	~1.66–1.8%	–
RoA (Outlook)	~1–1.2%	~1%
Growth Outlook	~20%+	~13–14%

In the analyst call, IndusInd Bank management said:“We remained focused on growing our core retail segments while continuing to optimize the bulk portfolio.”

The management further stated: “Retail d.eposit mobilization, which remains a key priority, saw healthy traction with net additions of Rs 6,800 crore during the quarter.”

The divergence remains clear. IDFC First Bank is expanding its retail franchise, while IndusInd Bank is prioritising balance sheet repair.

IDFC First Bank vs IndusInd Bank: Asset quality trends improve across both banks

IndusInd Bank reported improvement in asset quality, with GNPA declining to 3.43% in Q4 FY26 from 3.56% in Q3 FY26, while NNPA improved to 1.00% from 1.04% QoQ.

Slippages also moderated, with slippage ratio at 2.3% in Q4 FY26 compared with above 3% in Q3 FY26.

IDFC First Bank continues to operate with lower stress levels. GNPA declined to 1.61% in Q4 FY26 from 1.69% in Q3 FY26, while NNPA stood at 0.48%.

Early-stage stress indicators also improved, with SMA 1+2 declining to 0.78% in Q4 FY26, down 10 bps QoQ.

Both banks are seeing improving asset quality, though from very different starting points.

IDFC First Bank vs IndusInd Bank: Capital and dividend stance remain conservative

IDFC First Bank reported a capital adequacy ratio of 15.60% in Q4 FY26, providing sufficient headroom to support growth.

IndusInd Bank maintained a stronger capital position with CRAR at 17.48% and CET1 ratio at 16.20% in Q4 FY26.

Both banks continue to retain earnings to support growth and strengthen their balance sheets, with dividend payout remaining limited.

IDFC First Bank vs IndusInd Bank: Guidance indicates stable margins and improving returns

IDFC First Bank expects credit growth to remain healthy, while margins are likely to stay range-bound due to portfolio mix changes. The bank guides for credit costs at around 1.8%, supporting improvement in return ratios over the medium term.

IndusInd Bank expects loan growth to align with system growth at 13% to 14% in FY27, with return on assets improving toward 1% from 0.45% in Q4 FY26 as credit costs normalise.

The management reiterated during the call that “provisions were down 29% QoQ driven by lower net slippages”, reinforcing that profitability recovery is being led by improving asset quality.

IDFC First Bank vs IndusInd Bank: Brokerage view on valuation and upside

Nomura highlighted that IDFC First Bank delivered a resilient Q4 despite the fraud-related overhang, with net interest income rising 16% YoY and margins surprising positively at 6.01%. The brokerage noted that lower credit costs (1.66%) and improving slippages supported earnings, with adjusted profit coming in 14% above estimates. It also flagged that operating leverage, stable margins, and moderating credit costs are likely to drive earnings momentum over FY27–FY28, maintaining a ‘Buy’ rating with a target price of Rs 85.

JM Financial upgraded IndusInd Bank to ‘Add’ with a target price of Rs 925, implying 9.1% upside from Rs 848.

Emkay maintained a ‘Buy’ rating with a target price of Rs 1,100, implying 29.7% upside.

For IDFC First Bank, Emkay retained an ‘Add’ rating with a target price of Rs 75, implying 11.9% upside from Rs 67.

Earlier coverage maintained a ‘Buy’ rating with a target price of Rs 87, based on expected improvement in return ratios.

Axis Securities noted that IDFC First Bank’s performance remains strong with visible improvement across key operating metrics, supported by robust growth in advances and deposits along with margin expansion. The report highlights that credit and deposit growth is expected to sustain at ~21–23% CAGR over FY26–FY28, while operating leverage and better cost control should drive a gradual decline in cost-to-income ratios. Additionally, easing credit costs and improving asset quality are likely to support profitability, with RoA projected to improve to ~1–1.2% by FY28, reinforcing the brokerage’s positive outlook and BUY recommendation on the stock.

Conclusion

The Q4 FY26 earnings from IDFC First Bank and IndusInd Bank show that margins are no longer the primary driver of profitability. While IDFC First Bank is sustaining high margins with steady growth, IndusInd Bank is rebuilding profitability through lower credit costs. The broader trend across both banks indicates that earnings growth is now increasingly dependent on asset quality, cost discipline, and execution rather than margin expansion.

Source:FinancialExpress

28/04/26, FIIs sold Rs1.17lakh crore, but bought these 5stocks aggressively in Q4

The fourth quarter of FY26 had been a roller-coaster ride for the Indian equity market.

At the end of January, the market was going down owing to selling pressure from Foreign institutional investors (FIIs).

But as we entered February, sentiment changed, and there was in fact a fair inflow of foreign funds. And then the Middle East crisis started, leading to a sharp fall in the markets.

It is evident from the FIIs investment flow through the quarter as well. They dumped domestic equities worth around ₹1,17,172 crore during the quarter (Source: NSDL), dragging Nifty 50 and BSE Sensex down by around 15% each.

Having said that, there are select stocks that FIIs invested in aggressively during the quarter, contrary to their overall view of the market.

Here in this article, we will explore five such stocks that FIIs purchased during the quarter and increased their stake by over 5% points.

Note: We have not included Sammaan Capital, Shriram Finance, Marksans Pharma, KS Smart Technologies, and Cyinsys Tech as the increase in FIIs' stake didn't happen via open market purchases.

#1 PC Jeweller Limited

PC Jeweller Ltd. is one of India's leading jewellery brands. As of 31 December 2025, the jeweller had showrooms across 12 states in the country with a total retail area of over 2 lakh square feet. It is one of the top three largest jewellers in the country by market capitalisation as well. Its current market capitalisation is around ₹9,000 crore.

The company offers a wide range of products using gold, diamond, silver, and different gemstones. The company also caters to all types of customers, be it ultra-rich people or middle-income and lower-income group customers as well.

Not only products, but PC Jeweller has different distribution channels as well, which help the company diversify its income and market. The jeweller operates via high street showrooms, mass market showrooms, franchisee-owned showrooms, and via an e-commerce platform as well.

During the January-March quarter, FIIs increased their stake by 6.97% points in this company, taking the total FII holding to 13.28% at the end of the quarter.

The company has been planning to open up around a hundred large franchise showrooms during FY27 and FY28.

Another major development is a reduction in debt by around 68% since the execution of the Settlement Agreement at the end of September 2024. This indicates improvement in the financial position of the company. This also helped in the recovery of inventory of the jeweller, which was under the custody of the Debt Recovery Appellate Tribunal (DRAT).

Coming to the financials, sales grew from ₹1,544 crore in 9MFY25 to ₹2,426 crore during 9MFY26. During the period, profit grew from ₹480 crore to ₹559 crore.

Note: Q4 & FY26 Financial Results are yet to be announced.

The stock is trading at a price/earnings (PE) of 14.2x, lower than the industry median of 23.1x, and price/earnings to growth (PEG) is at 0.28x, marginally lower than the industry median of 0.34x, both indicating that perhaps the stock is relatively underpriced.

1-Year Share Price Chart of PC Jeweller Ltd.

#2 Bajaj Consumer Care Limited

Bajaj Consumer Care Ltd. offers a wide range of personal care and wellness products, ranging from hair oils to skin care products, to ayurvedic oils, and more. Some of the most popular products include Almond Drop Hair Oil (ADHO) and Nomarks range.

During the quarter, FIIs increased their stake in this FMCG company by 6.89% points, taking the total holding to 16.59% at the end of the quarter.

The strong buying by FIIs is perhaps due to ADHO's significant hold in the hair oil market in India.

Apart from ADHO, the growth portfolio of Bajaj Consumer, performed significantly well, contributing ₹225 crore to the total revenue of FY26. The company is expecting to grow this segment to ₹500 crore by FY29.

Then Banjara's, one of the strategic acquisitions of Bajaj Consumer to grow in South India, has been paying off well. During FY26, revenue growth from this segment doubled compared to FY25. Management is further anticipating this segment to generate revenue of up to ₹200 crore in the coming years.

Coming to the financials, sales grew by 20.7% YoY from ₹965 crore in FY25 to ₹1,165 crore in FY26. Profit for the period jumped from ₹125 crore to ₹190 crore, logging a whopping 53% YoY growth.

The stock is currently trading at a PE of 30.9x, lower than the industry median of 44.2x; however, the PEG ratio is 2.8x, a higher than the industry median of 2.14x, indicating relatively premium valuation.

1-Year Share Price Chart of Bajaj Consumer Care Ltd.

#3 Vishal Mega Mart Limited

Vishal Mega Mart Ltd. is a hypermarket chain selling products ranging from clothes to groceries, electric appliances, and more. As of 31 December 2025, the total store count stood at 771, out of which most of the stores are in the Tier II and Tier III cities, as the company's primary target audience is lower and middle-income groups.

During the quarter, FIIs increased their stake by 6.49% points in this company, taking the total holding to 22.01% at the end of the quarter.

The company is expanding its network rapidly, and now it is focusing more on South Indian states. During Q3FY26, 12 stores opened across different states of South India, 7 stores opened across North India, and 7 others in the West, and 3 in the East part of the country.

The company is now also focusing on small-format stores and planning to add 30-40 more of the same in the coming years.

Vishal Mega Mart is also scaling their quick commerce segment. The total number of quick commerce stores stood at 723 across, increasing at 15% YoY during the quarter October-December. The number of registered users on the platform grew by a whopping 55% during the period to around 12 million.

Coming to the financials, sales grew by 20% YoY from ₹8,169 crore in 9MFY25 to ₹9,792 crore in 9MFY26. Profit after tax (PAT) increased from ₹548 crore to ₹701 crore during the period, logging a 28% YoY growth.

Note: Q4 & FY26 Financial Results are yet to be announced.

The stock is currently trading at a PE of 74.6x, compared to the industry median of 44.4x, while the PEG ratio is at par with the industry median of 1.65x, suggesting that if adjusted for growth, the stock is perhaps fairly valued.

1-Year Stock Price Chart of Vishal Mega Mart Ltd.

#4 Multi Commodity Exchange Limited

Multi Commodity Exchange Ltd. (MCX) is the largest commodity exchange in India, with a market share of around 99% across base metals, bullion, and energy segments.

This capital market giant witnessed a 5.43% points rise in the stake held by FIIs during the quarter. This took the total FII holding to 26.07% at the end of the quarter.

While the near-monopoly status of MCX offers an edge to the business, the robust growth across the commodity derivative market is perhaps another reason behind the FIIs' investment surge. Between April 2023 and December 2025, the value of the commodity derivative market grew from ₹151 trillion to a whopping ₹958 trillion.

MCX witnessed massive growth in its average daily turnover (ADT) during the nine months ended on 31 December 2025. The ADT (notional) grew 2.3x from ₹1,91,909 crore at the end of FY25 to ₹4,34,797 crore.

Another reason that perhaps attracts the FIIs is the new launches by MCX during FY26. The commodity exchange launched the Electricity Futures Contract, which is the first of its kind in India. Then it also launched a Nickel Futures Contract, and during October 2025, the company came up with MCX BUILDEX®.

Coming to the financials, during 9MFY26, the total income of the exchange increased from ₹888 crore to ₹1,504 crore, logging a 69% YoY growth. PAT increased by a whopping 89% during the period from ₹425 crore to ₹802 crore.

The stock is currently trading at a PE of 77x, higher than the industry median of 66x, and the PEG ratio is also a bit higher at 1.5x, compared to the industry median of 1.2x, indicating the stock might be overvalued.

1-Year Share Price Chart of MCX Ltd.

#5 MTAR Technologies Limited

MTAR Technologies Ltd. is a manufacturer and developer of a wide range of equipment and components used across the defence, aerospace, clean energy, and nuclear sectors.

During Q4FY26, FIIs raised their stake in MTAR by 5.07% points, taking the total holding to 17.31% at the end of the quarter.

One of the reasons behind FIIs buying this stock so aggressively could be its solid orderbook. As of 31 December 2025, the orderbook of the company stood at ₹2,395 crore. Furthermore, the company received an order worth ₹35.6 crore on 1 April 2026.

Another reason could be the growing clean energy demand, as during the 9MFY26, this segment, including fuel cells, hydel, and other clean energy equipment, contributed to around ₹398 crore of revenue. Another ₹16.6 crore of revenue came from the clean energy - civil nuclear power segment.

Talking about clean energy and fuel cells, MTAR is planning a major expansion for manufacturing around 20,000 solid oxide fuel cell boxes by the end of FY27, and further increasing it to 30,000 boxes in the future.

Coming to the financials, sales grew from ₹493 crore in 9MFY25 to ₹570 crore in 9MFY26. PAT increased from ₹39.2 crore to ₹49.7 crore during the period.

The stock is currently trading at a PE of 240.3x, way higher than the industry median of 65.1x, indicating a premium valuation.

1-Year Share Price Chart of MTAR Technologies Ltd.

Final Thoughts

FIIs buying these stocks while dumping more than ₹1 lakh crore of equities during the Q4FY26 indicates solid fundamentals, strong order pipeline, massive expansion plans, new product launches, and more for these companies.

Now it remains to be seen if these companies continue to perform well and deliver on these expectations in the months and years to come.

For now, you can add these stocks to your watchlist and monitor their performance to have a better understanding of their potential.

We have relied on data from www.Screener.in throughout this article. Only in cases where the data was not available have we used an alternate, but widely used and accepted source of information.

The purpose of this article is only to share interesting charts, data points, and thought-provoking opinions. It is NOT a recommendation. If you wish to consider an investment, you are strongly advised to consult your advisor. This article is strictly for educational purposes only.

Maumita Mitra is a seasoned writer specializing in demystifying the world of investment for a broad audience. She has a keen eye for detail and a knack for explaining complex financial concepts in the simplest manner possible.

Source: FinancialExpress

28/04/26, StockMarket Today

Sensex Prediction for Tuesday, April 28: After the strong rebound in the stock markets on Monday, April 27, the sentiment has shifted toward cautious optimism.

As investors look toward the trading session on Tuesday, April 29, the focus remains on whether the index can sustain the momentum or if it will face resistance at higher levels.

Benchmark equity indices Sensex and Nifty rebounded nearly 1 per cent on Monday, snapping the three-day falling streak following a rally in Reliance Industries and Sun Pharma and positive global trends.

The 30-share BSE Sensex jumped 639.42 points or 0.83 per cent to settle at 77,303.63. During the day, it surged 755.83 points or 0.98 per cent to 77,420.04. The 50-share NSE Nifty climbed 194.75 points or 0.81 per cent to close at 24,092.70.

Sensex top gainers and losers on Monday, April 27

From the 30-Sensex constituents, Sun Pharma jumped 7 per cent after it announced the acquisition of US-based Organon & Co in an all-cash deal at an enterprise valuation of USD 11.75 billion, one of the largest overseas buyouts by Indian firms.

Reliance Industries jumped 2.88 per cent. Adani Ports, Tech Mahindra, Mahindra & Mahindra, NTPC, HCL Tech and Tata Consultancy Services were also among the major gainers.

Axis Bank, Bharat Electronics, Trent and ICICI Bank were among the laggards from the blue-chip pack.

Aakash Shah, Research Analyst at Choice Equity Broking Private Limited, said, "On 27th April 2026, the BSE Sensex witnessed a strong bullish session, closing at 77,303, up by 640 points, supported by selective buying across key sectors and recovery after the recent decline. The index opened on a positive note and sustained its upward momentum throughout the session, indicating strength at lower levels and renewed buying interest."

The upside was broadly led by IT, Pharma, Auto and Energy stocks, which emerged as key outperformers and supported the index with strong buying interest. Additional cushioning to the market was provided by Consumer Durables, Healthcare and Oil & Gas stocks, which traded in the green and helped sustain the overall positive momentum, Shah stated.

"On the other hand, Financial Services stocks closed on a largely neutral note, indicating lack of strong directional bias, while private banking heavyweights remained flat with marginal gains, reflecting continued earnings-related volatility and capping sharper upside in the index," the analyst said.

The key highlight of the session was short covering along with value buying after the recent correction, supported by improved global cues and stabilization in broader markets. Despite previous selling pressure, today's recovery indicates that investors are selectively accumulating quality stocks at lower levels. Broader markets also participated in the upmove, reflecting improved sentiment, he added.

Sensex Prediction for Tuesday, April 28

Shah said Monday's sharp rebound reflects a short-term pullback driven by short covering and value buying after the recent correction.

"From a technical perspective, the Sensex has managed to reclaim its immediate support zone, indicating a short-term pullback within a broader consolidation phase," he said.

Immediate support is now placed near 76,700-76,500, while resistance is seen around 77,900-78,000.

"Overall, the market structure suggests a pullback rally within a range-bound trend, with momentum improving in the short term. However, a decisive breakout above resistance levels is required to confirm a sustained uptrend, while failure to hold support may again lead to consolidation," the analyst concluded.

Sectoral indices on Monday, April 27

The BSE SmallCap Select index jumped 2 per cent and MidCap Select index climbed 1.35 per cent.

All sectoral indices ended higher. Utilities surged the most by 2.50 per cent, followed by Healthcare (2.43 per cent), Focused IT (2.41 per cent), Realty (2.35 per cent), IT (2.20 per cent), Power (2.05 per cent) and Services (1.92 per cent).
A total of 3,075 stocks advanced, while 1,288 declined and 193 remained unchanged on the BSE.

Brent crude, the global oil benchmark, traded 2.53 per cent higher at USD 107.9 per barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 8,827.87 crore on Friday, according to exchange data.
On Friday, the Sensex dropped 999.79 points or 1.29 per cent to settle at 76,664.21. The Nifty slumped 275.10 points or 1.14 per cent to end at 23,897.95

Report: EconomicTimes

27/04/26, PostMarket REPORT

Indian equity benchmarks ended near day's high points on Monday, supported by buying in metals, healthcare and IT stocks. Markets made positive start and maintained their upward momentum throughout the session, amid signs of easing geopolitical tensions after reports indicated that Iran has offered a new proposal to the U.S. for reopening the Strait of Hormuz and ending the war.

Some support also came as the Commerce and Industry Ministry stated that three-day trade talks between Indian and US officials concluded on April 23, 2026, with both sides agreeing to remain engaged to sustain the momentum.

Sentiments remained upbeat as Commerce and Industry Minister Piyush Goyal said India and New Zealand are set to sign a free trade agreement (FTA) on April 27, which is expected to boost trade between the two countries in the coming months.

European markets were trading in the green ahead of key interest rate decisions from major central banks, including the U.S. Federal Reserve, European Central Bank, Bank of Japan, and Bank of England. Asian markets closed mostly higher following reports that Iran has put forward a proposal to the United States regarding the reopening of the Strait of Hormuz.

The SENSEX ended at 77303.63, up by 639.42 points or 0.83% after trading in a range of 76754.20 and 77420.04. 22 stocks were advancing against 8 stocks declining on the index.

The top-gaining sectoral indices on the BSE were Utilities up by 2.50%, Healthcare up by 2.43%, Realty up by 2.35%, IT up by 2.20% and Power up by 2.05%, while there were no losing sectoral indices on the BSE.

The NIFTY50 closed at 24092.70, up by 194.75 points or 0.81% after trading in a range of 23936.20 and 24130.70. 41 stocks were advancing against 9 stocks declining on the index.

The top gainers on Nifty were Sun Pharma, up by 6.98%, and Jio Financial Services. up by 3.22%, Reliance Industries up by 2.86%, Wipro up by 2.85% and Tech Mahindra up by 2.77%. On the flip side, Shriram Finance down by 3.62%, Axis Bank down by 3.05%, Bharat Electronics down by 1.99%, Tata Consumer Products down by 1.15%, and ICICI Bank down by 0.91% were the top losers.

European markets were trading higher; Germany's DAX gained 122.32 points or 0.51% to 24,251.30, France's CAC rose 41.98 points or 0.51% to 8,199.80, and the UK's FTSE 100 increased 10.13 points or 0.1% to 10,389.21.

Source: Upstox 

27/04/26, Banking Stocks in Focus

Axis Bank, IndusInd Bank and RBL Bank and other banking stocks are in the spotlight today following the announcement of their quarterly earnings.

Most of these banks reported mixed March quarter earnings with steady rise in net interest income (NII), while profitability has dropped or remained in low-single digit.

Axis Bank fall nearly 5% after higher provisions

Axis Bank shares declined nearly 5% in early morning trades reacting to its Q4FY26 earnings. The private lender reported flat growth in Q4 net profit to ₹7,071 crore, down 0.6% YoY, mainly due to a sharp spike in provisions and a trading loss. Total provisions and contingencies rose 159% YoY to ₹3,522 crore during the quarter.

Net interest income up 4.7% YoY to ₹14,457 crore compared to ₹13,811 crore in a year-ago period, while net interest margins (NIM) stood at 3.62%. Asset quality improved, with gross NPAs declining to 1.23% (down 17bps QoQ) and net NPAs to 0.37% (down 5bps QoQ). Slippages moderated sharply, and credit costs improved sequentially.

Axis Bank advances saw a rise of 19% YoY and 6% QoQ to ₹12.34 lakh crore, led by strong growth in corporate and SME segments. Along with the results, Axis Bank also announced final dividend of ₹1 per share for its shareholders.

IndusInd Bank turn profitable in March quarter

IndusInd Bank shares rose over 6.1% intraday to hit a day high of ₹899.9 apiece on NSE after the private lender swung back to profitability with net profit of ₹594 crore compared to loss of ₹2,236 crore in the year-ago period due to lower provisions, which fell sharply by 38.6% YoY to ₹1,484 crore during the quarter.

IndusInd Bank net interest income (NII) increased 43.4% YoY to ₹4,372 crore, driven by a low base and improved interest income dynamics. Net interest margin (NIM) improved to 3.39% from 2.25% a year-ago.

Gross non-performing assets (NPA) ratio improved to 3.43% from 3.56% in the previous quarter, while net NPA improved to 1.00%, indicating better underwriting in the microfinance segment. IndusInd Bank declared a final dividend of ₹1.50 per share, which is the first dividend in nearly two years.

RBL Bank Q4 net profit jumps 234% YoY

RBL Bank shares declined 4.7% intraday despite reporting 234% YoY jump in net profit to ₹230 crore, driven by 13% YoY drop in provisions to ₹678 crore. NII rose by 7% YoY to ₹1,671 crore, aided by strong advances growth of 23% YoY. Gross NPA improved to to 1.45% from 1.88% QoQ, while Net NPA dropped to 0.39% from 0.55% in the previous quarter.

RBL Bank net advances grew 23% YoY and 11% QoQ to ₹114,232 crore, while total deposits for the company grew 25% YoY and 16% QoQ to ₹139,018 crore. The lender also declared a dividend of ₹ 1 per share of ₹10 face value.

IDFC First Bank reports stable Q4 earnings

IDFC First Bank shares rose 3.6% intraday and hit a day high of ₹69.7 apiece on NSE after the bank reported steady growth in the March quarter. In Q4FY26, IDFC First Bank reported 4.9% YoY rise in net profit to ₹319 crore driven by growth in core business.

Net interest income (NII) surged 15.7% YoY to ₹5,677 crore, supported by 20% loan growth (reaching ₹2.90 lakh crore), while asset quality improved during the quarter as Gross NPA fell to 1.61% from 1.69% sequentially and net NPA stood at 0.48% from 0.53%. The board of directors of the bank announced a dividend of ₹0.25 per share.

DCB Bank report robust 17.4% YoY growth in NII

Another private bank, DCB Bank saw strong traction as its shares rose 6.4% intraday before witnessing profit booking. Private sector lender reported a 16% increase in net profit to ₹206 crore, driven by robust NII growth during the March quarter.

Net interest income (NII) rose 17.4% YoY to ₹655 crore. Meanwhile, Asset quality improved sequentially, with the gross NPA ratio declining to 2.45% from 2.72% in the previous quarter. Net NPA ratio also eased to 0.89% from 1.10% QoQ. DCB Bank announced final dividend of ₹1.45 per share for FY26

Report by Upstox,  Source: Dailyhunt 

27/04/26, Which is the second most spoken language in India after Hindi

 Second-most Spoken Language in India: Language is the heartbeat of human connection. There are more than 7,100 languages spoken worldwide.

Tamil and Sanskrit are among the oldest, while newer languages like Esperanto were created artificially. Looking at the most diverse country in the world, India stands out with 22 official languages and 121 major ones. Hindi is the most spoken, but do you know which language comes next? In this article, let's explore the history and cultural importance of that language.

Which Is The Most Spoken Language In India After Hindi?

Bengali is the second-most-spoken language in India, with about 9.72 crore speakers, accounting for 8.03% of the population according to the 2011 Census. Most people speak it in West Bengal and Tripura, where it has strong historical and cultural roots. Outside India, Bengali is the national language of Bangladesh. It is part of the Indo-Aryan language family and developed from Magadhi Prakrit and Sanskrit.

Bengali is often praised for its sweet sound and was the first Indian language to earn a Nobel Prize in Literature, thanks to Rabindranath Tagore. Its script is derived from Brahmi and is the fifth-most widely used writing system in the world, indicating its wide influence.

5 Lesser-Known Facts About Bengali

• It is the 7th most spoken language in the world, with over 230 million speakers worldwide (native and non-native).
• Linguistically, Bengali is often cited as one of the "sweetest" languages because it is non-tonal and features many "O" sounds (rounded vowels), making it sound melodic to the human ear.
• UNESCO declared February 21 as International Mother Language Day to honour the 1952 Bengali Language Movement.
• Outside of India and Bangladesh, Bengali is the most spoken immigrant language in many parts of the United Kingdom (like Tower Hamlets).
• While its core is Sanskrit-based (Tatsama), about 5% to 8% of modern Bengali vocabulary consists of Persian, Arabic, and Turkish loanwords.
• In a unique diplomatic gesture, Sierra Leone designated Bengali as an honorary official language in 2002 to thank Indian peacekeepers for their support during the country's civil war.

Top 7 Most Spoken Languages In India (After Hindi)

Here is the list of the top 7 most spoken languages in India based on the Census of India 2011, which remains the most credible official source.

Rank	Language	Native Speakers (Mother Tongue)	Total Speakers (Incl. L2/L3)	Main Regions (India)	Global Presence
1	Bengali	9.72 Crore	10.72 Crore	West Bengal, Tripura, Assam	Bangladesh, the UK, the USA, and Saudi Arabia
2	Marathi	8.30 Crore	9.90 Crore	Maharashtra, Goa	Israel, Mauritius, USA
3	Telugu	8.11 Crore	9.41 Crore	Andhra Pradesh, Telangana	USA (fastest growing), Malaysia
4	Tamil	6.90 Crore	7.70 Crore	Tamil Nadu, Puducherry	Sri Lanka, Singapore, Malaysia
5	Gujarati	5.54 Crore	6.00 Crore	Gujarat, Dadra & Nagar Haveli	UK, USA, Kenya, Canada
6	Urdu	5.07 Crore	6.30 Crore	UP, Bihar, Telangana, Delhi	Pakistan, UAE, UK
7	Kannada	4.37 Crore	5.90 Crore	Karnataka	USA, Australia, Singapore

Conclusion

Bengali is the second-most spoken language in India and is the main language for more than 97 million people. Its importance comes not only from the number of speakers but also from its strong cultural heritage. Bengali is also the seventh most spoken language in the world, linking India to the global community, especially through its ties with Bangladesh.

Report by Jagran Josh

27/04/26, some thing about Software Companies

 Infosys Ltd., the second-largest outsourcer, forecast annual sales growth below analysts’ estimates on Thursday, following a profit miss at smaller rival HCL Technologies Ltd. two days earlierEarnings from India’s bellwether software services exporters have reinforced investor concerns about the sector’s growth prospects, signaling that the downturn in their stocks has further to run.Infosys Ltd., the second-largest outsourcer, forecast annual sales growth below analysts’ estimates on Thursday, following a profit miss at smaller rival HCL Technologies Ltd. two days earlier.

Both stocks declined, with the latter hit by at least half a dozen analyst downgrades. A gauge of the sector plunged more than 5 per cent on Friday to close at its lowest level since June 2023.

The market reaction underscores the two-pronged challenge being faced by India’s $315 billion tech industry — a weak global macroeconomic environment amid the Iran war that has weighed on discretionary tech spending, and the rapid rise of artificial intelligence, which is threatening to disrupt their business models.The selloff in stocks has deepened since Tata Consultancy Services kicked off earnings on April 9, with nearly $115 billion now wiped off the value of the IT gauge over four months. That has also acted as a key drag on India’s broader market given that tech shares carry a weightage of about 10 per cent in the benchmark NSE Nifty 50 Index.“We continue to be cautious on the sector,” Surendra Goyal, an analyst at Citigroup Inc., wrote in a note, citing high competitive intensity and continued impact of AI on existing business.Given the fears of AI-driven disruption, a crucial metric for investors is how effectively India’s IT outsourcers adapt — both in how quickly they embed AI into their own delivery models and how successfully they reposition themselves in the value chain.Infosys has sought to capitalize on the rapid progress of AI by embedding the technology into its offerings in a bid to curb costs and convince corporations to maintain or enhance their IT budgets. Larger rival TCS has partnered with OpenAI to build AI data centers in India, and now its nearing more such deals with other tech giants.

The companies rose to prominence in the late 1990s by helping Western firms solve the Y2K bug, which had threatened computer chaos at the turn of the millennium. Since then, they have survived fluctuations in global growth from a series of crises, as well as the dawns of new technologies from mobile telecommunications to cloud computing.For some market watchers, the monthslong selloff has made valuations attractive. The IT gauge is trading at less than 17 times its one-year forward earnings, down from 30 at the start of last year. The benchmark Nifty 50 trades at more than 18 times.“This is a sector with no price froth, little valuation excess, and a weak business cycle already reflected in prices,” said Sahil Kapoor, a strategist at DSP Mutual Fund. “At current prices, terminal-value risk appears limited, and we remain overweight.”Still, the decline in share prices following the latest earnings shows investors want to see more concrete results before turning positive. The NSE Nifty IT Index is now down almost 25% in 2026, making it the worst-performing sector gauge in India. It is trailing the Nifty 50 for a second year.“Discretionary and non-AI technology spending is under pressure, as clients are delaying large, multi-year projects due to economic uncertainty and unclear returns from AI,” said Anurag Rana, senior technology analyst at Bloomberg Intelligence. “Companies lack visibility beyond a single quarter, with CFOs unable to provide clear medium-term guidance amid ongoing uncertainty.”

Report by Bloomberg 

Source: BusinessLine

27/04/26, Expert view: Vinit Bolinjkar, the head of research at Ventura, believes the Nifty 50 may reach 26,000 to 27,000 by the end of 2026. However, several global and domestic factors will have to act in tandem to drive the index to that level.

 "Geopolitical an crude oil risk remain but are fading. Long-term India story is stronger than near-term noise," said Bolinjkar in an interview with Mint. Bolinjkar also suggest investment strategies, keeping the current market construct in mind and recommends top stocks to buy from banking, power, and defence sectors. Edited excerpts:

We have no dearth of headwinds. How should we invest now?

The current environment is challenging but not unprecedented for India. Geopolitical risks, crude oil price spike, and FII outflows have historically been temporary shocks, with DIIs providing strong counter-buying support.

Markets have already seen sharp rebounds (Nifty surged nearly 3-4% in single sessions in early April 2026 on ceasefire news). Stick to disciplined, long-term investing rather than trying to time the bottom.

Accumulate fundamentally sound companies into quality large-cap and select mid-cap space. Focus on domestic consumption, capex, and export-resilient themes.

Weak rupee is a tailwind for exporters and makes Indian assets cheaper for global investors (potential FII return trigger).

Avoid leverage or concentrated bets; maintain 10-20% cash for dips. Prioritise sectors less sensitive to oil (renewables, defense, banking/financials over pure cyclicals like aviation and refineries initially).

India's structural growth story (earnings CAGR nearly 12-15%, policy support, DII flows) remains intact. This is a volatility phase, not a structural breakdown-we still see upside potential once oil/geopolitics stabilise.

Don't you think the impact of higher crude oil prices will linger for at least the next one quarter?

Yes, an end or meaningful de-escalation of the US-Iran conflict (ceasefire since nearly April 8, though strained by Hormuz issues and blockade talks) could trigger a relief rally, as seen in the sharp April 8 surge when oil cooled and risk appetite returned.

For sustainability, the ceasefire talks should progress, and crude should stay below $100 per barrel.

But the higher oil price impact will likely linger for at least the next 1-2 quarters-India imports 85-90% of its crude oil demand, so elevated prices feed into inflation, CAD widening, and RBI policy caution.

Expect some margin pressure on oil-marketing companies and many other sectors using crude derivatives as key raw materials, an indirect hit to consumption.

Markets price in "hope" quickly; reality (earnings impact in Q1-Q2 FY27) may cap the rally unless FIIs return and domestic growth accelerates.

Has the market hit the bottom? What is the make-or-break level for Nifty 50?

We have seen a sharp selloff (Nifty dipped to nearly 22,182 in early April) followed by a strong rebound (now hovering at 24,000 zone as of mid-April).

Technically, early-April lows look like a capitulation point (historical April bottoming tendency + bullish divergence on RSI).

But it's not confirmed until we sustain above key resistance (nearly 24,000-24,500) with rising volumes and FII inflows.

Make-or-break level is 23,000-23,500 (psychological + recent support cluster). A decisive close below this on high volume would signal deeper correction toward 22,000-22,500.

If the price stays above this range, and oil prices ease, it could gain strength and move toward 25,000 or higher.

Have you revised your Nifty target? Where do you see the Nifty 50 by the end of 2026?

We align with the 26,000-27,000 consensus. However, this recovery will be purely based on:

- Earnings growth (12-15% CAGR) from financials, capex cycle, and consumption recovery.

- Domestic institutional flows (DIIs already offsetting FII selling).

- Policy easing (low interest rates post-inflation peak) and structural reforms.

- Geopolitical resolution + rupee stabilization aiding exports/FII return.

- India's relative outperformance vs. global peers in a slowing world.

Valuations are elevated but justified by growth premium; any correction creates entry points.

Is it the right time to bet on IT stocks? If yes, should we focus on only the bigger players?

No, we are cautious on Indian IT sector. Indian IT firms have largely stayed service-oriented, with limited product innovation, R&D investment, and proprietary AI capabilities, risking margin pressure and limited revenue visibility. Future will depend on their AI partnerships, deal pipelines, and scale to adapt the AI.

What sectors are you bullish on at this juncture? What are your top picks for the next one year?

Top themes (in order of conviction):

- Financials/banking due to Low interest rates + credit growth + low NPAs.

- Defense due to Atmanirbhar + export push.

- Power and renewables/green energy due to policy push + PLI.

- Select FMCG and pharma/healthcare (defensive + exports).

- Capex/industrials (selective) and domestic consumption recovery (realty, auto, consumer discretionary).

Top picks (quality + growth mix for one-year horizon):

- Banking/financials: HDFC Bank, ICICI Bank, SBI.

- Power: Adani Power, Adani Green, Adani Energy Solution, NTPC, NHPC.

- Defense: PSU defense (e.g., BEL)

Overall stance: Stay invested, add on dips, tilt toward domestic + export-resilient large-caps. Geopolitical an crude oil risk remain but are fading. Long-term India story is stronger than near-term noise.

Source: Mint

Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of the expert. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.