Stock Market Live April 7: Sensex, Nifty range-bound amid global uncertainty, RBI policy in focus

EFC (I) announced operational milestone achievement at Sprint Business Center, Wakadewadi, Pune,=

EFC (I) announced operational milestone that Sprint Business Center, Wakadewadi, Pune, a fully owned asset of the Company spread over 49,556 sq., has now been developed as a premium A-Grade commercial workspace and has achieved over 90% occupancy in record time

Shares traded flat on the NSE at Rs 194.04.

Ola Electric Mobility

Ola Electric Mobility: Promoter and CMD of the company has tweeted – “the LFP cell is now ready! Gigafactory ramp is going really well. 1000s of vehicles powered by our 4680 cells are already on roads, clocking many millions kms in real-world conditions”

Servotech Renewable Secures 67% share across multiple tenders of DC Fast EV Chargers floated by PSUs/OM

Refex Industries has procured an order for supply of Bulk Industrial Commodity for Rs 70.2 crore.

Air India CEO Campbell Wilson resigns, transition underway

Air India CEO Campbell Wilson resigns, transition underway

Wilson to continue in the role till successor takes charge

Servotech Renewable Secures 67% share across multiple tenders of DC Fast EV Chargers floated by PSUs/OMC

The Great Eastern Shipping Company has contracted to sell its 2003 built Medium Range Tanker ‘Jag Pankhi’

The Great Eastern Shipping Company has contracted to sell its 2003 built Medium Range Tanker ‘Jag Pankhi’ of about 46,273 dwt, to an unaffiliated third party. The vessel will be delivered to the buyer in Q1 FY27.

PNGS Gargi Fashion Jewellery: Revenue from operations in Q4FY26 stood at Rs 2,955.42 lakh compared to Rs 22,68.71 lakh in Q4FY25.

Unimech Aerospace: The Company’s order book stands at approximately Rs 214 crores as of March 31, 2026

Operational Update • The Company has witnessed a sequential improvement in business activity during Q4 FY26 compared to the preceding quarters of the financial year. 

On a year-on-year basis, the Company expects to report growth in Q4 FY26 compared to Q4 FY25. 

Shares up 1% on the NSE to Rs 745.10

United Drilling Tools received order from ADiL (Aadyashree Drilling International Pvt. Ltd.)

United Drilling Tools received order from ADiL (Aadyashree Drilling International Pvt. Ltd.), a key domestic player in the oil and gas sector, for the supply of Integral Blade Stabilizers which scheduled to be fulfilled over a period of approximately 2 months.

Shares jumped 11% to Rs 200.33 on the NSE

QCIL inks agreements with Ampin Energy and Radiance Renewables to transition facilities to sustainable energy

QCIL inks agreements with Ampin Energy and Radiance Renewables to transition facilities to sustainable energy

QCIL partners with Ampin Energy and Radiance Renewables to transition hospitals in India to sustainable solar power, enhancing energy efficiency.

DoT extends AGR dues reassessment timeline for Vodafone Idea till June

DoT extends AGR dues reassessment timeline for Vodafone Idea till June

The telecom department expects that AGR reassessment for Vodafone Idea — which recently received government relief for its dues and liabilities — will be completed by June, sources said.

Servotech Renewable Power System secured contract for supply, installation and commissioning of EV chargers at various locations across India

Shares traded at Rs 70.31 on the NSE, up 1.44%

Vodafone Idea shares traded at Rs 8.64 on the NSE, down 1.26%

The telecom department expects that AGR reassessment for Vodafone Idea — which recently received government relief for its dues and liabilities — will be completed by June, sources said.

Mawana Sugars closed its crushing operations for sugar season 25-26 in its unit Nanglamal Sugar Complex, Nanglamal, in Meerut, Uttar Pradesh.

Sensex, Nifty recover from early loss: IT stocks lift benchmarks amid oil price concerns

Sensex, Nifty recover from early loss: IT stocks lift benchmarks amid oil price concerns

Sensex and Nifty recover from early losses as IT stocks rise amid concerns over oil prices and geopolitical tensions.

Metropolitan Stock Exchange of India unveils new brand identity

The Metropolitan Stock Exchange of India (MSE) today announced a significant step forward in its evolution with the unveiling of a refreshed brand identity and migration to its new digital domain, www.mseindia.com. The shift from msei.in to mseindia.com signifies more than a digital upgrade—it underscores the Exchange’s true and simplified identity as “MSE,” while proudly aligning with its national character as an Indian exchange.

IGX gas trade rises 28% YoY in FY26 to record 76.8 million MMBtu

IGX gas trade rises 28% YoY in FY26 to record 76.8 million MMBtu

IGX reports a 28% YoY gas trade increase to 76.8 million MMBtu in FY26, despite March volume decline due to supply disruptions.

Q4FY26 earnings calendar: TCS, Infosys, HDFC Bank, Reliance among key companies to announce results

Q4FY26 earnings calendar: TCS, Infosys, HDFC Bank, Reliance among key companies to announce results

Here is a date-wise list of key companies scheduled to report their earnings in April and May

Regulatory risk keeps bankers from tapping rupee futures–forwards arbitrage

Regulatory risk keeps bankers from tapping rupee futures–forwards arbitrage

Pricing distortions stemming from the Indian central bank’s recent foreign ​exchange curbs have opened up arbitrage between exchange-traded rupee futures and ‌onshore forwards.

Asian shares mostly higher ahead of Trump’s deadline for Iran to reopen oil route

Asian shares mostly higher ahead of Trump’s deadline for Iran to reopen oil route

Asian shares rise cautiously as oil prices surge ahead of Trump’s Iran deadline, impacting global energy markets.

Tata Steel FY26 crude steel output rises 8% to 23.48 MT; posts best-ever annual deliveries, shares flat at ₹196.03 on NSE

Tata Steel: In FY2026, its annual crude steel production stood at 23.48 MT. Production was up 8% YoY primarily aided by Kalinganagar ramp up, partly offset by shutdown of ‘G’ blast furnace for relining at Jamshedpur. In 4QFY26, crude steel production stood at 6.25 million tons, up 15% YoY. ▪ India deliveries increased inline with production leading to ‘best-ever annual’ volumes of 22.53 million tons. Domestic deliveries crossed 20 million tons for the first time, highlighting our strong market positioning and enduring customer relationships. In 4QFY26, deliveries were up 10% YoY and registered ‘best-ever quarterly’ volumes

Shares traded flat at Rs 196.03 on the NSE.

India’s first fast breeder reactor goes critical after 15-year delay 

After 15 years, India’s first fast breeder reactor goes critical

India’s first fast breeder reactor, delayed for 15 years, has gone critical, marking a significant milestone in nuclear energy.

Jubilant Foodworks sinks 11% to 52-week low despite 6.2% Q4 revenue growth; Domino’s India posts flat LFL growth

Jubilant Foodworks ‌dragged over 11% to hit a 52-week low of Rs 408.80 on the NSE. 

The standalone revenue rose 6.2% y-o-y in Q4FY26 to Rs 1686 crore. Domino’s India recorded a LFL growth of 0.2% in Q4FY26.

Housing sales dip 4% annually in Jan-Mar in 8 cities on high prices, Iran war: Knight Frank

Housing sales dip 4% annually in Jan-Mar in 8 cities on high prices, Iran war: Knight Frank

Housing sales fell 4% in Q1 across eight cities due to high prices and geopolitical uncertainty, reports Knight Frank.

Simplex Mills board approves sale of land at closed Akola textile plant

Simplex Mills Company board approved proposal to sell, transfer and/or otherwise disposal of land pertaining to the closed Textile Plant of the Company situated at Akola, Maharashtra, to any suitable party/parties.

Domino’s India operator slumps to two-year low as quarterly sales growth disappoints

Domino’s India operator slumps to two-year low as quarterly sales growth disappoints

Domino’s India operator Jubilant Foodworks faces a two-year low after disappointing quarterly sales growth, raising margin concerns.

Thyrocare launches Bharat Aarogyam Score on World Health Day; analysis of 93 lakh checkups reveals widespread silent health risks

On the occasion of World Health Day, Thyrocare Technologies Limited (hereinafter referred to as “Thyrocare” NSE: THYROCARE, BSE: 539871), a leading healthcare diagnostics company in India to have achieved 100% NABL accreditation across all its laboratories, has launched its Bharat Aarogyam Score, one of India’s largest real-world preventive health analysis, based on over 93 lakh health checkups conducted between 2023 and 2025. The findings highlight a widespread prevalence of silent health risks across the population, with more than 9 out of 10 individuals showing early signs of at least one health condition and a majority exhibiting multiple overlapping risk factors.

Max Estates posts ₹5,305 crore pre-sales in FY26, ₹3,392 crore booked in Q4; shares flat at ₹354 on NSE

Max Estates Delivers INR 5,305 Crore Pre-Sales in FY2026; with INR 3,392 Crore Booked in Q4”

Shares flat at Rs 354 on the NSE after surging to Rs 357.35

Titagarh Rail up 2% as arm gets nod for West Bengal expansion, to receive ₹129 crore shipbuilding subsidy

Titagarh Rail shares rose 2% to Rs 714.40. The company reported that its arm, Titagarh Naval Systems, has received approval for a brownfield expansion in West Bengal and will receive a Rs 129 cr subsidy under the government’s Shipbuilding Development Scheme

Alembic Pharma gets USFDA nod for Dapagliflozin tablets; shares jump 3% to ₹674 on NSE

Alembic Pharmaceuticals receives USFDA Final Approval for Dapagliflozin Tablets, 5 mg and 10 mg

Shares surged 3% on the NSE to Rs 674

IRFC trades flat at ₹92.79 after fully disbursing ₹1,000 crore term loan to MAHAGENCO

IRFC traded flat on the NSE at Rs 92.79. Company fully disbursed a Rs 1,000 crore term loan to Maharashtra State Power Generation Company Limited (MAHAGENCO).

Crude oil futures hit record ₹10,888/barrel; WTI touches $116

Crude oil futures hit record ₹10,888/barrel; WTI touches $116

Crude oil futures soar to record ₹10,888/barrel amid global supply concerns and geopolitical tensions, with WTI reaching $116.

RBI MPC Meet April 2026: Date, Time, Expectations & live details

RBI MPC Meet April 2026: Date, Time, When & Where, Expectations & live details

RBI MPC Meeting April 2026: The RBI Governor Sanjay Malhotra is chairing his second Monetary Policy Committee meeting on April 8, 2026. Follow Businessline for live Updates tomorrow.

Amagi launches NewsPulse, an AI platform for autonomous multi-format digital news content; shares flat at ₹317.15 on NSE

Amagi Launches Newspulse: An Agentic AI Platform That Autonomously Turns Live Newscasts into Multi-Format Digital Content

Shares flat on the NSE at Rs 317.15.

PC Jeweller shares rally 10% as Q4 updates lift sentiment, Kalyan Jewellers gains on strong growth outlook

PC Jeweller shares rally 10% as Q4 updates lift sentiment, Kalyan Jewellers gains on strong growth outlook

PC Jeweller and Kalyan Jewellers see share price gains following strong Q4 results and optimistic growth outlook.

Gold steadies near $4,700 as West Asia uncertainty keeps markets on edge

Gold steadies near $4,700 as West Asia uncertainty keeps markets on edge

Gold stabilizes near $4,700 as West Asia tensions create market uncertainty; analysts advise cautious trading strategies.

P. N. Gadgil & Sons opens new Pune showroom at Tribeca Highstreet; launches 9KT Gifting Edition collection across all stores

P. N. Gadgil & Sons has strengthened its presence in Pune with the launch of its new showroom at Tribeca Highstreet, marking another milestone in its growth journey. Alongside this expansion, the brand has introduced the 9KT Collection – The Gifting Edition across all its showrooms, offering contemporary, lightweight designs tailored for everyday wear and effortless gifting.

Aluminium futures: Breakout likely

Aluminium futures: Breakout likely

Aluminium futures show bullish potential, with a breakout expected above ₹358, targeting ₹380; support at ₹340.

Gold, silver trade rangebound as Trump’s Iran ultimatum stokes geopolitical anxiety;

Renisha Chainani, head of research at Augmont, writes – Precious Metals trade rangebound ahead of Trump’s Iran war deadline

· Safe-Haven Dynamics – Gold and silver are trading in a narrow range following two consecutive sessions of decline. The key driver is renewed geopolitical anxiety after President Trump threatened to strike Iranian civilian infrastructure, raising concerns over a prolonged conflict and its broader economic fallout.

· Geopolitical Developments – Trump issued a fresh ultimatum to Iran upto April 8- 5:30 am, demanding the reopening of the Strait of Hormuz or facing strikes on power plants and civilian targets. Iran has rejected the demand and continues attacking regional energy assets. However, diplomatic channels remain active — the US, Iran, and regional mediators are reportedly negotiating a potential 45-day ceasefire framework.

· Macroeconomic Signals – Markets increasingly believe that war-driven energy price spikes could reignite inflation, pushing major central banks — including the Fed — toward a hawkish policy tilt. This week, US GDP data and FOMC meeting minutes will be closely watched for directional cues on price momentum.

Technical Triggers

· Gold prices are expected to trade in the range of $4580 (~Rs 144,000) to $4800 (~Rs 154,000) this week breakout or breakdown.

· Silver is expected to trade in the range of $67(~ Rs 215,000) to $77(~Rs 243,000) this week before giving a breakout or breakdown.

Gold, silver trade rangebound as Trump’s Iran ultimatum stokes geopolitical anxiety;

Renisha Chainani, head of research at Augmont, writes – Precious Metals trade rangebound ahead of Trump’s Iran war deadline

· Safe-Haven Dynamics – Gold and silver are trading in a narrow range following two consecutive sessions of decline. The key driver is renewed geopolitical anxiety after President Trump threatened to strike Iranian civilian infrastructure, raising concerns over a prolonged conflict and its broader economic fallout.

· Geopolitical Developments – Trump issued a fresh ultimatum to Iran upto April 8- 5:30 am, demanding the reopening of the Strait of Hormuz or facing strikes on power plants and civilian targets. Iran has rejected the demand and continues attacking regional energy assets. However, diplomatic channels remain active — the US, Iran, and regional mediators are reportedly negotiating a potential 45-day ceasefire framework.

· Macroeconomic Signals – Markets increasingly believe that war-driven energy price spikes could reignite inflation, pushing major central banks — including the Fed — toward a hawkish policy tilt. This week, US GDP data and FOMC meeting minutes will be closely watched for directional cues on price momentum.

Technical Triggers

· Gold prices are expected to trade in the range of $4580 (~Rs 144,000) to $4800 (~Rs 154,000) this week breakout or breakdown.

· Silver is expected to trade in the range of $67(~ Rs 215,000) to $77(~Rs 243,000) this week before giving a breakout or breakdown.

Macquarie sells Safeway Concessions stake to VINCI Highways for ₹15,000 crore

Macquarie sells Safeway Concessions to VINCI Highways in ₹15,000 crore deal

Macquarie sells Safeway Concessions to VINCI Highways for ₹15,000 crore, marking a major infra deal and VINCI’s entry into India’s roads sector.

Anthropic revenue crosses $30 billion as AI demand surges

Anthropic revenue tops $30 billion as Claude AI demand surges

Anthropic’s revenue crosses $30 billion on strong Claude AI demand, with enterprise clients doubling and new Google-Broadcom deals boosting capacity.

Jindal Stainless names Ranveer Singh as first brand ambassador

Jindal Stainless appoints Ranveer Singh as first brand ambassador

Jindal Stainless names Ranveer Singh as its first brand ambassador to boost visibility, highlighting stainless steel’s role in India’s growth story.

Dynacons Systems bags ₹25 crore contract from J&K Bank; shares rise 3% to ₹909.80 on NSE

Dynacons Systems & Solutions secured a Rs 25 crore contract from Jammu & Kashmir Bank .

Dynacons stock surged 3% on the NSE to Rs 909.80

Royal Orchid Hotels launches Regenta Place Iris Park in Rishikesh; shares at ₹307.20 on NSE

Royal Orchid Hotels Ltd. (ROHL) has announced the launch of its newest property, Regenta Place Iris Park, Rishikesh in Uttarakhand.

Shares traded at Rs 307.20 on the NSE.

Nimbus Projects debuts on NSE at ₹199, marking key milestone in capital markets; aims to boost liquidity and investor reach

Nimbus Projects Limited (BSE: NIMBSPROJ), a publicly listed real estate developer, today announced its successful listing on the National Stock Exchange of India Limited (“NSE”), marking a significant milestone in its capital market journey. The Company has been listed on the BSE since 2000, reflecting its long-standing presence in India’s capital markets.

The NSE listing is expected to enhance stock liquidity, improve price discovery, and provide broader access to a diversified base of institutional and retail investors, further strengthening the company’s presence in India’s listed real estate landscape.

The stock opened at INR 199 on the NSE on its listing day.

Commenting on the development, Bipin Agarwal, Chairman and Managing Director, Nimbus Projects Limited, said: “The NSE listing represents a strategic step in strengthening our capital market footprint and engaging with a wider investor ecosystem. As we continue to scale our development pipeline, our focus remains on disciplined growth, prudent capital allocation, and delivering sustainable long-term value to all stakeholders.”

Nimbus Projects has continued to expand its footprint across the NCR, with a strong focus on residential and mixed-use developments. The company has developed approximately 15 million square feet across 13 projects and served over 10,000 customers. The company currently has approximately 3 million square feet under development, with a continued focus on residential and mixed-use assets.

With over three decades of operational experience, Nimbus Projects has built a strong presence across key micro-markets in Noida and Greater Noida, driven by a consistent delivery-led approach.

From a financial standpoint, the company currently has a market capitalisation in the range of ₹350–365 crore, with its shares trading close to book value, indicating a stable and fundamentally aligned valuation profile. The company maintains a balanced capital structure, with total assets and borrowings aligned to the scale and progression of its ongoing and planned developments.

Over the years, Nimbus Projects has demonstrated steady balance sheet expansion, supported by disciplined project execution and a calibrated approach to growth.

The NSE listing also reflects the broader structural shift within India’s real estate sector, where listed developers are increasingly gaining prominence through enhanced transparency, stronger governance standards, and improved access to institutional capital.

Going forward, Nimbus Projects remains focused on expanding its development portfolio across high-growth corridors in NCR, while maintaining financial discipline and execution excellence.

Aurobindo Pharma’s arm, CuraTeQ Biologics, achieved positive results for its Omalizumab biosimilar in Phase 3 clinical trials

Aurobindo Pharma traded flat on the NSE at Rs 1,349.70. The company’s arm, CuraTeQ Biologics, achieved positive results for its Omalizumab biosimilar (BP11) in Phase 3 clinical trials

Nifty Bank Prediction Today – April 7, 2026: Nifty Bank futures: Exhibits positive bias

Nifty Bank Prediction Today – April 7, 2026: Nifty Bank futures: Exhibits positive bias

Nifty Bank futures show a positive outlook; surpassing 52,700 could initiate a rally, with key supports at 52,000.

Ranveer Singh announced as Brand Ambassador of Jindal Stainless

Jindal Stainless announces Ranveer Singh as its first-ever Brand Ambassador, marking a new chapter in brand outreach

Shares flat on the NSE at Rs 722.

Nifty Prediction Today – April 07, 2026: Nifty 50 Futures: Resistance ahead. Go long on a break above it

Nifty Prediction Today – April 07, 2026: Nifty 50 Futures: Resistance ahead. Go long on a break above it

Nifty 50 forecast for April 7, 2026: Watch for a breakout above 23,060 to target 23,450-23,500.

Jubilant Foodworks slumps to two year low as Q4 same store sales growth disappoints

Shares of Domino’s ‌India operator Jubilant Foodworks fell ⁠9% on Tuesday after ‌posting weak same store ‌sales ‌growth.

The ⁠company on ⁠Monday posted 0.2% same store ‌sales growth for its Domino’s India stores ‌in the fourth quarter, down ⁠from 5% growth it ‌had recorded last quarter.

Shares of the company ‌fell as much as 8.7% to ⁠Rs 421, their ⁠lowest since march ‌2024. – Reuters

FSN E-Commerce Ventures eyes majority stake in 82°E; expects Q4 net revenue growth of 27–29% YoY, shares down 2.6% at ₹245.80 on NSE

FSN E Commerce Ventures’ confirmed evaluating strategic growth opportunities and remains in discussions with several parties, including those related to the potential acquisition of a majority stake in the skincare brand 82°E

The company expects consolidated net revenue to grow 27–29 per cent year-on-year in the March quarter

Shares traded at Rs 245.80 on the NSE, down 2.61%.

Sona BLW hits milestone of 500 million differential gears produced; shares flat at ₹505 on NSE

Sona BLW Precision Forgings has manufactured 500 million differential gears and 10 million differential assemblies since its inception.

Shares traded flat on the NSE at Rs 505.

Iran’s Mojtaba Khamenei ‘unconscious’, under treatment in Qom: Report

Mojtaba Khamenei in severe condition in Qom as Trump issues Iran ultimatum

Mojtaba Khamenei is reportedly in critical condition in Qom as US President Trump warns Iran of severe consequences if it fails to meet a key deadline.

Nifty today: Top gainers, losers at hour of trade

Top gainers of Nifty 50: Hindalco (+3.12%), Wipro (+2.41%), Bajaj Finance (+0.94%), Tech Mahindra (+0.74%), Sun Pharma (+0.64%)

Top losers: Max Health (-2.14%), IndiGo (-1.91%), M&M (-1.66%), Eicher Motors (-1.59%), Eternal (-1.48%)

Bitcoin remains range-bound between $68,000–$69,000; decisive move above $72,000 could trigger rally, says Giottus CEO Vikram Subburaj

Market analysis by Vikram Subburaj, CEO, Giottus.com

Bitcoin was trading in the $68,000-$69,000 range on April 7 after briefly testing levels close to $70,000 intraday. The price action remains consistent with a range-bound recovery. There is no confirmed breakout yet. The immediate structure is intact and the support lies around $66,000-$68,000. The resistance remains clustered in the $70,000-$72,000 region. A decisive move above $72,000 has been flagged in market notes as a potential trigger for a faster move toward $80,000 due to relatively thin supply in that band. Until then, Bitcoin is trading within a defined corridor.

On-chain data suggest the market is stable but not yet in expansion. Bitcoin is trading roughly 20-22% above its realised price (~$54,000–$55,000). This represents the aggregate cost basis of holders and tells us that the market is no longer in a stress phase. However, analysts place the True Market Mean near $79,000, implying that Bitcoin is still below a level typically associated with stronger bull-market conditions. This positioning (above realised price but below equilibrium) supports the view that the current phase is one of repair and consolidation. 

Institutional flows have improved, but remain inconsistent. U.S. spot Bitcoin ETFs saw about $1.32 billion in net inflows in March 2026. This marked the first positive month after a weak start to the year. However, early April flows have been uneven. Data compiled by Farside show +$69.4 million on March 30, +$117.5 million on March 31, followed by -$173.7 million on April 1, +$9.0 million on April 2, and a stronger +$289.5 million on April 6. This pattern reflects renewed participation, but not sustained accumulation.

Macro developments are likely to be the decisive factor in the near term. The Federal Reserve minutes (April 8) and U.S. CPI data (April 10) are immediate triggers. This will be followed by the FOMC meeting on April 28-29. Recent U.S. labour data showed 178,000 jobs added in March with unemployment at 4.3%. This reduces the urgency for rate cuts. At the same time, oil prices have remained elevated (around or above $110 per barrel in recent sessions), adding to inflation risks. This combination of firm labour markets and elevated energy prices could keep financial conditions tight. 

Altcoins are not confirming strength either. Data shows ETH at (all approx) $2,105 (-1.2%); XRP at $1.31 (-1.4%); BNB at $598 (marginally negative); SOL at $79.7 (-3.3%), and DOGE at $0.090 (-2.4%) on the day. The broader pattern is one of selective weakness outside Bitcoin and not one of coordinated market participation.

Our advice: For investors, the signal is clear: Bitcoin is holding above structural support. However, a sustained move higher will likely require consistent ETF inflows and supportive macro data. Do not fall for short-term price momentum. Be aware of the support levels and look for clean breaks.

SKM Egg Products confirms no bird flu cases in its Tamil Nadu farms; shares flat at ₹164.02 on NSE

SKM Egg Products Export (India) informed all stakeholders that “there are currently no bird flu incidents in poultry farms.” 

“All our eggs are produced exclusively in Tamil Nadu, and the Company does not have any operations in Kerala, where avian influenza cases were previously reported.”

Shares flat at Rs 164.02 on the NSE.

Kalyan Jewellers Q4 revenue jumps 64% YoY; FY26 revenue up 42%, shares gain 1% on NSE to ₹425

Kalyan Jewellers India: In Q4FY26, it recorded revenue growth of approximately 64% when compared to the same period in the previous financial year. For the full year FY2026, we recorded revenue growth of approximately 42% on a consolidated basis as compared to the prior year. 

Shares up 1% on the NSE to Rs 425.

Lodha Developers posts record Q4 pre-sales of ₹58.9B, up 23% YoY; FY26 pre-sales rise 16% to ₹205.3B, shares flat at ₹716.80 on NSE

LODHA DEVELOPERS: CO ACHIEVED BEST EVER QUARTERLY PRE-SALES OF RUPEES 58.9B IN Q4FY26 (+23% YOY). CO’S PRE SALES FOR THE FULL YEAR STOOD AT RUPEES 205.3B IN FY26 (+16% YOY GROWTH) (SUPPORTIVE FOR OUTLOOK)

Shares flat at Rs 716 . 80 on the NSE

HSBC on Ventive Hospitality

Upgrade to Buy, TP cut to Rs 685

Strong Jan-Feb offset by March softness from corporate travel, MICE disruptions; ARRs likely to remain stable

Diesel shortage a key risk that could close Male; expect a week of closure could wipeout 1% of FY27 profit

CUT TP on lower estimates yet valuation undemanding at FY27e EV/EBITDA of 10x

Brokerages on Steel sector

Nomura on Steel

Rally in India steel prices continues; rapid domestic HRC upswing narrows negative flat-long spread

India’s average HRC spot margin for Apr-26 (month-to-date) increased to Rs 38,303/t, up by over Rs1,890/t m-m from Mar-26, remaining well above the median margin level observed over past 2 yrs

Margin expansion has been supported primarily by higher steel prices, while input costs have remained largely stable on a sequential m-m basis.

Input cost trends: global coking coal rises and iron-ore prices largely stable; domestic iron ore prices increase

LPG supply risks appear to be manageable at present

Maintain Buy on Tata Steel, JSW Steel, JSPL & Lloyd Metals

Jefferies on Steel

JSTL and TATA stocks are down 9-10% since start of the Middle East war, despite India steel price rising 6%

FY27-28E EPS for TATA/JSTL are 6-24% ahead of Street, & see further upside, especially given signs of improving demand-supply balance in China while Asian conversion

spreads are still 35% below long-term average

A prolonged war could weigh on demand, but earnings are more sensitive to prices

Continue to prefer steel within India metals

Brokerages on GCPL

CITI on GCPL

Buy, TP Rs 1425

4Q update reflects strong momentum, with near‑double digit consolidated revenue growth, ahead of our 6% growth expectation.

India business continued its improving growth trajectory, delivering double‑digit revenue growth alongside high single‑digit UVG (double-digit ex-soaps); we estimate domestic revenues to have grown ~10.5%.

Indonesia business showed further signs of stabilization with mid‑single digit volume growth, while the GAUM cluster delivered another quarter of double‑digit sales growth

Q4 profitability remained intact, with EBITDA growth broadly tracking revenue and no immediate impact from recent commodity inflation.

Management guided to a 6–9% cost inflation risk in FY27E but expressed confidence in mitigating this through calibrated pricing, cost efficiencies, operating leverage, & media optimization.

Nomura on GCPL

Buy, TP Rs 1525

4Q update: Consolidated revenue growth close to double digits, led by high-single-digit India volume growth

Consolidated EBITDA growth will be in line with revenue growth, according to management

Expect GCPL to report EBITDA growth of 11-12% y-y, largely in line with expectation of 11.6% y-y.

Management expects cost inflation of 6-9% in 1HFY27F, but highlights mitigating factors & remains confident to accelerate FY27F sales growth & sustain profitability

Macquarie on GCPL

O-P, TP Rs 1340

4Q release a mixed bag

1) Healthy double-digit India sales growth with volume up high single digits and margins in the normative 24-26% range;

2) weaker-than-expected international margin, resulting in close to double-digit consolidated Ebitda growth;

3) confidence in achieving FY27 bottom line plans despite commodity inflation, were key takeaways

Brokerages on Jubilant FoodWorks

OW, TP Rs 693

MS on Jubilant FoodWorks

OW, TP Rs 693

Standalone (India business) 4Q revenue grew 6.2% YoY (MSe 10.5%, 3Q 12%) with LFL growth of 0.2% (vs 5% in 3Q; MSe +4%)

Dominos added 59 net stores in 4Q (MSe: 33 stores) taking the full-year addition to 276 stores (184 in F25, 179 in F24).

Consolidated 4Q revenue increased 19.1% YoY: Implied international revenues grew 59% (18% in 3Q).

Domino’s Turkey LFL growth was 9% (6.3% in 3Q, 5.6% in 2Q), with 4 net new store additions (vs. 15 in 3Q) and a total store count of 787 stores.

Macquarie on Jubilant FoodWorks

U-P TP Rs 460

Weaker-than-expected like-for-like growth (same-store-sales growth removing dilution from splitting of stores) for Domino’s India at 0.2%, healthy store additions for Dominos India, and strong sales performance for international geographies (Turkey, in our view) were key takeaways from pre-4Q update.

Brokerages on FSN E Com

BoFA Sec on FSN E Com

U-P TP Rs 220

Est BPC & fashion GMV growth of 27% /28% yoy; overall revenue growth at 29%. Adj. EBITDA margin to improve by 33bps to 8.5%

There has been no material impact this quarter from the Iran conflict & ME exposure is currently below 1% of overall revenue

Fashion losses to narrow to 20mn in 4Q (vs 80mn in 3Q). Slightly raise FY26 EPS

Reiterate U/P on expensive valuations

Nomura on FSN E Com

Buy, TP Rs 305

QFY26F: Strong revenue growth sustained

Fashion revenue growth accelerates; BPC sustains strong momentum

Expect EBITDA margin at 7.6% in 4Q

Beauty & Personal Care (BPC) category: Net revenue growth to be in the late twenties

Fashion category: Net revenue growth estimated to be in late thirties

Stock trades at 4.6x FY28F EV/sales, which believe is attractive

CITI on FSN E Com

Business update highlights second consecutive quarter of an uptick in BPC growth (CitiE: 27% vs 27%/25% in 3Q/1HFY26) and a sustained bottoming out in Fashion (CitiE: 38% YoY).

Based on the update, expect Nykaa’s EBITDA margins to expand 170bps YoY (20bps QoQ) to 8.2% in 4QFY26 vs a YoY expansion of 140bps in 9mFY26

In BPC, Nykaa’s marketing & sales-distribution spends have been ahead of NSV growth in recent Qs (35% YoY vs NSV growth of 27% in 9mFY26) but have also been accompanied by robust new customer acquisitions.

BPC margins have nevertheless expanded, aided by strong owned-brands, decent ad-revenues and operating leverage.

In Fashion, headline growth was aided by favorable base but still expect the segment to achieve operating b/e in Q.

Macquarie on FSN E Com

U-P, TP Rs 210

Largely in line beauty performance & slightly better-than-expected growth in fashion are key takeaways from pre-4Q update

It expects consolidated GMV growth in late twenties while consolidated reported sales is expected in late twenties

Build in a sequentially flattish Ebitda margin in beauty while expecting fashion losses to moderate sequentially in 4Q.

Jefferies on General Insurers

Rising yields and falling equities a risk to investment income

Asset mix: ICICI Lombard has more equity exposure; multi-insurers have more long-term debt

Have cut our Ind AS FY26/27 earnings by avg. 25%/12% factoring in MTM losses

Fundamental tailwinds for Star Health and ICICI Lombard have not changed

Hence, risk/reward is favorable for both Star Health and ICICI Lombard

BofA on Banks

ICICI Bank – Maintain Buy; Cut TP to Rs 1500 from Rs 1750

HDFC Bank – Maintain Buy; Cut TP to Rs 950 from Rs 1175

Shifting tides – prioritizing resilience over growth

Price correction overdone; value emerging in large banks

Buy ICICI, HDFC on strong fundamentals + attractive valuations

Lower downside risk to growth amidst evolving macro

NIM upside from potential rate hike

Healthy EPS trajectory supported by loan growth normalization, NIM uplift and benign credit costs

Valuation below long-term average

Jefferies on India Travel

IndiGo – Maintain Buy; Cut target price to Rs 5500 from Rs 6140 

Indian Hotels – Maintain Buy; Cut target price to Rs 800 from Rs 900 

ITC Hotels – Maintain Buy; Cut target price to Rs 210 from Rs 250 

Chalet – Maintain Buy; Cut target price to Rs 910 from Rs 1075 

GMR Airports – Maintain Buy with target price of Rs 125 

Baking in impact of Middle-East disruption 

Review travel companies estimates facing risk from softer international traffic, higher fuel, & weaker inbound tourism 

Airlines are most exposed: Middle East linked capacity cuts, fare hikes aimed at offsetting fuel inflation but risking load-factor pressure 

Airports face traffic/spend headwinds 

Hotels see FTA-led softness partly cushioned by domestic substitution 

Earnings cuts are sharpest for IndiGo, then Hotels & GMR 

Pecking order stays Airports > Airlines > Hotels

Morgan Stanley on Global Refining Sector

Global refinery utilisation to rise ~180bps over 2025-28, keeping margins elevated 

5+ mbpd refining capacity constraints to sustain strong margin cycle 

Diesel margins to remain structurally higher on strong demand and high gas prices 

Refining margin estimates raised by 12-15% across coverage 

Medium-term margins seen ~1.5x vs prior cycles due to structural tightness 

Refiners preferred within energy on energy security theme and limited capacity addition 

Prefer refiners with strong domestic demand and crude sourcing flexibility 

Reliance, PTTGC, SPRC and Bangchak preferred

Goldman Sachs on Maruti Suzuki

Maintains Buy rating with a target price of ₹15,800 

4Q revenue and EBITDA seen ~5% above consensus led by better SUV mix and lower discounting 

SUV and CNG mix supporting margins though commodity pressures persist 

Lower treasury income due to higher bond yields 

Higher costs due to CSR spends and new launches 

Key monitorables include price hikes, capacity addition and small car strategy 

Focus on SUV pipeline, flex fuel and EV roadmap

JPM on Aluminium

Upgrade Hindalco to OW from Neutral, TP Raised to Rs 1125 from Rs 875

Upgrade Vedanta to OW from Neutral, TP Raised to Rs 850 from Rs 680

Upgrade as see substantial earnings growth from higher LME Al prices & favorable FX (INR depreciation) over next several quarters

Middle East conflict has put us on edge of a bullish supply driven event horizon and recent smelter outages will likely last for months even after shipping through Strait of Hormuz eventually returns

Commodity tailwinds should help ease recent debt concerns & valuations have turned attractive with current stock prices for HNDL/VEDL implying an LME Al price of $2900/t (vs spot $3500/t)

Believe earnings have bottomed for Novelis (Hindalco); while energy inflation could be a near-term headwind, FY27 should fare much better as Oswego plant restarts operations & benefit of higher scrap spreads translates into better profitability.

Hindalco will also see an improved earnings trajectory in its copper business given surge in sulphuric acid prices (byproduct)

Believe risk-reward has become attractive for VEDL with FY27E EBITDA at 4x; earnings tailwinds in Aluminum and Zinc business should more than offset the weakness in oil and gas volumes

EQUITY PREVIEW

Anand Rathi Wealth (ANANDRAT): To consider free shares issue on April 9

Avantel Ltd. (AVTS): Gets INR115.9m order from NewSpace India

Bharat Petroleum (BPCL): Suspends 4 LPG Distributors After Malpractice Probe

Godrej Consumer (GCPL): Sees 4Q Consol Near Double-Digit Revenue Growth

Marine Electricals (MARINE): Gets INR1.15b order from L&T

Shipping Corp (SCI): In accord with Synergy Marine Singapore to cooperate in research, training

Texmaco Rail (TXMRE): Gets INR392.6m order from Southern Railway

Global bits

United States: Growth remains resilient in jobs but services are slowing, inflation pressures are rising due to energy shock, and the Fed is cautious amid stagflation risks.

Canada: Services sector is contracting, growth is weak, and fuel-driven inflation is pressuring the economy and currency.

Euro Area: Inflation has rebounded above target on energy costs, growth forecasts are being cut, and the ECB is leaning hawkish despite fragile momentum.

Germany: Inflation accelerated while 2026 growth forecasts were sharply downgraded amid energy disruption.

Italy: Growth outlook cut and inflation revised higher due to prolonged energy shock risks.

Japan: Oil shock complicates policy as inflation risks rise but demand remains soft, keeping rate hike debate alive.

India: RBI expected to hold rates as higher oil prices threaten growth and widen the current account deficit.

China: Authorities face a dilemma between imported inflation pressures and slowing growth.

Vietnam: Growth slowed but remains strong, with rising energy import costs lifting inflation.

Thailand: Growth outlook downgraded, prompting reform push amid weaker tourism and external shocks.

Australia: Fuel supply stabilized temporarily, but energy costs remain elevated with broader economic risks.

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New Zealand: Airline capacity cuts and fare hikes reflect severe jet fuel cost pressures.

Russia: Energy export infrastructure faces renewed disruption from drone attacks, adding supply uncertainty.

Nigeria: Dangote refinery boosts exports to ease regional supply stress despite broader inflation risks.

Africa (overall): Prolonged conflict risks slower growth and cost-of-living crises, especially for oil importers.

Brazil: Modest rate cuts amid inflation monitoring as global energy shock clouds outlook.

Mexico: Gradual policy easing continues but cautiously amid external inflation risks.

Colombia: Aggressive rate hike signals inflation concern despite political tensions.

Peru: Markets await rate decision amid regional inflation and war-driven uncertainty.

Source: Reuters

Swan Defence wins first-ever order for 92,500 DWT dual-fuel ammonia bulk carriers; shares rise 2% on NSE

Swan Defence and Heavy Industries has secured a category 4 order* from Energy ONE Limited for the construction of four (4) 92,500 DWT dual-fuel ammonia bulk carriers – marking a first for the country. 

Shares up 2% on the NSE to Rs 1,750

Adani Enterprises board approves conversion of partly paid-up rights shares to fully paid-up; stock trades flat at ₹1,899.40 on NSE

Adani Enterprises board has approved the conversion of partly paid-up Rights Equity Shares as below:

conversion of 20,583 partly paid-up Rights Equity Shares of face value of ₹1.00 each, which were 75% paid-up (comprising ₹ 0.75 of the face value and ₹ 1,349.25 premium) into 20,583 fully paid-up equity shares of face value of ₹ 1.00 each

conversion of 2,33,470 partly paid-up Rights Equity Shares of face value of ₹1.00 each, which were 50% paid-up (comprising ₹ 0.50 of the face value and ₹ 899.50 premium) into 2,33,470 fully paid-up equity shares of face value of ₹ 1.00 each

Shares traded flat on the NSE at Rs 1,899.40

Nifty seen opening 150 points lower; 23,200 resistance and 22,700–22,800 support key ahead of expiry, says Gaurav Udani

Gaurav Udani, Founder – Thincredblu Securities, “Nifty is expected to open lower by around 150 points near 22,900, indicating a cautious start ahead of weekly expiry, which could keep volatility elevated through the session.

The index continues to trade within a defined range, with 23,200 acting as a key resistance. Unless this level is decisively broken, upside remains capped and rallies may face selling pressure. On the downside, the 22,700–22,800 support zone remains crucial — a break below this could trigger fresh weakness.

Given the expiry setup, expect sharp intraday moves and possible whipsaws. Traders should avoid aggressive positions at the open and instead react to levels.

Bias remains tactical — sell on rise near resistance and buy only near strong support, with strict risk management. Global cues will continue to play a role in setting the tone for the day.

Crude oil futures rise after Trump threatens Iran over Hormuz deadline

Crude oil futures rise after Trump threatens Iran over Hormuz deadline

Crude oil futures rise as Trump threatens Iran over Hormuz deadline, warning of potential military action and escalating tensions.

Bitcoin rebounds near $70,000 as ceasefire hopes and short squeeze lift prices; upside capped by resistance, institutional demand supports $68,000 level

“Bitcoin has rebounded toward the $70,000 range, supported by easing geopolitical concerns after reports of a potential Iran ceasefire and a short squeeze that pushed prices higher. The rally was further amplified as traders unwound bearish positions, briefly driving Bitcoin above the $70,000 mark.

However, the upside momentum has shown signs of hesitation, with Bitcoin facing rejection near the $70,000 level and struggling to sustain a breakout. This suggests that while sentiment has improved, the market remains in a fragile balance between relief-driven buying and underlying macro uncertainty.

At the same time, strong institutional demand continues to provide a supportive backdrop, particularly with continued accumulation by MicroStrategy, which recently added to its Bitcoin holdings. This ongoing buying is helping Bitcoin hold above the $68,000 support zone despite volatility.

From a technical perspective, if Bitcoin sustains above current levels, the structure suggests a potential move toward the $75,000–$77,000 range in the near term, while failure to hold support could keep the asset range-bound in the short term.” – Avinash Shekhar, Co-Founder & CEO, Pi42

Kaya informed regarding appointment of Piyush Jaiswal as COO – North & West (SMP) of the company w.e.f. April 06, 2026.

Forthcoming Event

07th April: Alka India to consider Dividend & Bonus issue; GACM Technologies, Pakka to consider Fund Raising

08th April: Krishana to consider Dividend; Le Merite Exports to consider Stock Split; Panther Industrial Products to consider Scheme of Arrangement

09th April: ANANDRATHI, GMBREW, TCS to consider Dividend; RSWM, Shantidoot Infra Services to consider Fund Raising

10th April: Virgo Global to consider Reduction of Capital

13th April: SWARAJENG to consider Dividend

14th April: EIMCOELECO, ICICIPRULI to consider Dividend

15th April: ELECON, ICICIGI to consider Dividend; HDB Financial Services to consider Dividend & Fund Raising

16th April: CRISIL, HDFCAMC, HDFCLIFE to consider Dividend

18th April: ICICIBANK to consider Dividend; HDFC Bank to consider Dividend & Fund Raising

Corporate actions

Dividend

08-Apr-26

VBL: Final Dividend – Rs. – 0.50

10-Apr-26

JASH: Interim Dividend – Rs. – 0.60

22-Apr-26

CIEINDIA: Final Dividend – Rs. – 7.00

SANOFI: Final Dividend – Rs. – 48.00

IPO

Om Power Transmission: Open: 09-Apr-26; Close: 13-Apr-26

Buyback

Puretrop Fruits: Ex-Date: 10-Apr-26

Bonus Issue

Avax Apparels And Ornaments: Bonus Issue 3:1; Ex-Date: 07-Apr-26

RM Drip and Sprinklers System: Bonus Issue 5:7; Ex-Date: 10-Apr-26

Stock Split

Pashupati Cotspin: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 17-Apr-26

String Metaverse: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 24-Apr-26

Right Issue

Gravity India: Ex-Date: 08-Apr-26

Til Ltd: Open: 30-Mar-26; Close: 08-Apr-26

Enbee Trade & Finance: Open: 12-Mar-26; Close: 10-Apr-26

5paisa Capital: Open: 27-Mar-26; Close: 10-Apr-26

Gujarat Cotex: Open: 10-Apr-26; Close: 08-May-26

Open Offer

ADC India Communications: Open: 02-Apr-26; Close: 17-Apr-26

Manappuram Finance: Open: 06-Apr-26; Close: 20-Apr-26

Indo Borax & Chemicals: Open: 10-Apr-26; Close: 24-Apr-26

Aurobindo Pharma approves share buyback of up to ₹800 crore at ₹1,475 per share; record date set for April 17, 2026

Aurobindo Pharma has approved the buyback of up to 54,23,728 equity shares, representing up to 0.93% of the total equity shares, at a price of INR 1,475/- per Equity Share for an aggregate amount up to INR 800 crores. April 17, 2026 is the record date for buyback.

Cambridge Technology completes R.P. Web Apps divestment; shares jump 5% on NSE

Cambridge Technology Enterprises informed that divestment of 100% shareholding in R.P. Web Apps Private Ltd has been completed.

CTE shares surged 5% on the NSE to Rs 28.35

NSE partners with S&P Global Energy to launch Brent crude oil futures based on Platts benchmarks

National Stock Exchange of India Limited (NSE) announced a strategic collaboration with S&P Global Energy, the leading independent provider of information, data, analysis, benchmark prices and workflow solutions for the commodities markets, to introduce exchange-traded derivatives based on its Platts physical spot market benchmarks. This marks a significant step in deepening India’s energy derivatives ecosystem and aligning it with globally recognized pricing standards. Platts is part of S&P Global Energy.

As part of this collaboration, NSE will initially launch Dated Brent Crude Oil (Platts) futures contracts based on the Platts Dated Brent benchmark. The exchange aims to provide market participants with a robust, transparent, and globally relevant risk management tool linked to internationally trusted energy reference prices.

Crude oil futures rise as Trump threatens tougher action on Iran; Brent tops $111

Crude oil futures traded higher on Tuesday morning as US President Donald Trump threatened to intensify attacks on Iran if it did not make a deal with the US, by 8 pm EDT Tuesday, to open the Strait of Hormuz. At 9.19 am on Tuesday, June Brent oil futures were at $111.35, up by 1.44 per cent, and May crude oil futures on WTI (West Texas Intermediate) were at $115.40, up by 2.66 per cent. April crude oil futures were trading at ₹10781 on Multi Commodity Exchange (MCX) during the initial hour of trading on Tuesday against the previous close of ₹10588, up by 1.82 per cent, and May futures were trading at ₹9444 against the previous close of ₹9315, up by 1.38 per cent.

Opening bell: Sensex drops 781 points, Nifty slips 211 points in early trade

Sensex traded 780.95 pts or 1.05% lower at 73,325.90 at 9.16 am after opening at 73,734.36, and Nifty 50 depreciated 211.15 pts or 0.92% to 22,757.10.

Rupee caught in tug-of-war between RBI-led unwinding, Trump’s Iran deadline

Rupee caught in tug-of-war between RBI-led unwinding, Trump’s Iran deadline

Rupee expected to trade near 93 per dollar amid RBI support and Iran conflict risks influencing market stability.

Centre plans ₹2.5 lakh crore credit guarantee scheme amid West Asia war impact

Centre plans ₹2.5 lakh crore credit guarantee scheme to support stressed sectors

Government may launch ₹2.5 lakh crore credit guarantee scheme to support MSMEs, aviation and other sectors hit by West Asia tensions.

Maharashtra to revise fines, bank guarantees for polluting industries after CAG report

Maharashtra to revise pollution fines and bank guarantees after CAG flags lapses

Maharashtra plans stricter pollution fines and bank guarantees after CAG flags ₹272 crore lapses, with new rules and online monitoring to boost compliance.

Sensex, Nifty set for muted start amid US-Iran tensions, RBI policy in focus

Sensex, Nifty to open lower amid US-Iran tensions; RBI policy and volatility in focus

Indian markets may open lower as US-Iran tensions persist. RBI policy outcome, expiry day and high volatility are likely to guide market direction today.

InCred Alternative Investments closes maiden Special Opportunities Credit Fund at ₹1,500 crore hard cap

InCred Alternative Investments, today announced the final close of its maiden Special Opportunities Credit Fund at its hard cap of ₹1,500 crore

RBI keeps FPI percentage caps unchanged, raises overall debt investment limit for FY27

The Reserve Bank of India (RBI) has kept the percentage investment caps for Foreign Portfolio Investors (FPIs) unchanged for FY 2026-27: 6% for government securities (G-Secs), 2% for state government securities (SGSs), and 15% for corporate bonds.

However, due to growth in the bond market, it has raised the overall absolute debt investment limit from the current ₹14.71 lakh crore to ₹15.52 lakh crore in the first half of FY27 (April–September 2026), and further to ₹16.32 lakh crore in the second half (October 2026–March 2027).

Category-wise limits have also been revised upward accordingly, with the aim of boosting foreign capital inflows, improving liquidity, and supporting government borrowing. From April 2026, investments under the Voluntary Retention Route (VRR) will be counted within the general route limits.

Moody’s affirms India’s Baa3 rating with stable outlook, warns on West Asia conflict risks

Moody’s has kept India’s sovereign credit rating unchanged at Baa3 (equivalent to BBB-) with a stable outlook. The agency cited improving fiscal metrics, resilient economic growth relative to peers, and rising private investment backed by government infrastructure spending.

However, it warned that a prolonged conflict in West Asia could slow India’s GDP growth to around 6% in FY27, push inflation higher to 4.8%, widen the current account deficit, and increase pressure on the rupee due to higher energy and commodity costs.

India allows expansion of mining leases to unlock deep-seated minerals

Government amends mining rules to boost critical mineral exploration and self-reliance

Government amends mining rules to allow lease expansion and boost exploration of critical minerals, strengthening supply and supporting Atmanirbhar Bharat goals.

HDFC Mutual Fund Turns a Dying Lake into a Lesson in SIPs through Nurture Nature 4.0

HDFC Mutual Fund has concluded a first-of-its-kind campaign under its long- standing initiative, Nurture Nature, reimagining how India understands Systematic Investment Plans (SIPs) by turning a complex financial concept into visible, real-world impact.

The campaign linked every new SIP registered during the initiative to water restoration, with each SIP registration contributing to the revival of the dying Nayanamkunta Lake in Hyderabad. Thousands of individual SIPs which got registered, helped channel a small portion of the funds into a large-scale ecological effort that helped restore a lake in partnership with the renowned environmentalist Anand Malligavad, bringing a fragile ecosystem back to life.

Speaking on the initiative, Mr. Navneet Munot, Managing Director & CEO, HDFC Asset Management Company, said “This campaign is a testament to the idea that small steps, taken consistently, can lead to extraordinary outcomes. Just as SIPs help build financial security over time, collective action can restore and sustain our environment. We are proud to have created a platform where every investor could contribute to a larger social cause.”

Beyond awareness, the campaign aimed to inspire genuine behavioural change. By drawing a parallel between the discipline of regular investing and the compounding power of collective action, the initiative shows how small, sustained contributions financial or environmental can create lasting transformation

Credit Card Report for the month of February 2026 from Asit C. Mehta Investment

Total credit card spending declined sharply to ₹1,772 bn, falling 11% MoM but still growing modestly by 6% YoY, indicating slowdown in consumption momentum

Transaction volumes mirrored the trend, dropping 8.5% MoM to 491 million, though maintaining strong 23.9% YoY growth, suggesting usage remains healthy despite lower spending values

The slowdown in spends and volumes was largely driven by the top 4 banks, which together account for ~76% of industry spends, highlighting their outsized impact on overall trends

Card issuance remained robust at 1.05 million new cards, hitting a 23-month high and reflecting ~7.7% YoY growth, indicating continued focus on customer acquisition

Total cards outstanding reached ~118 million, showing steady expansion in the credit card base across the industry

Average spend per card declined to ₹15,056, down 11.7% MoM and 1.6% YoY, reflecting weaker consumption and dilution due to rapid card additions

Spend per transaction also declined (~3% MoM / ~14% YoY), indicating continued pressure on ticket sizes and consumer spending behavior

Among major banks, SBI showed strong YoY spend growth (30.3%), while ICICI Bank saw a slight YoY decline, indicating divergence in performance among top players

Mid-sized banks like Federal Bank and Yes Bank posted strong YoY growth (47.7% and 23.5% respectively), gaining traction despite overall slowdown

Federal Bank stood out in card issuance and portfolio expansion, with ~87% YoY growth in cards and significant market share gains despite a small base

Market concentration remains high, with top 10 banks accounting for ~93% of total spending share, indicating a highly consolidated industry

February is seasonally weak for card usage, but the sharper-than-usual decline suggests underlying softness in near-term consumption trends

Divergence between strong card issuance and weak spending highlights that banks are prioritizing growth and customer acquisition over immediate usage, which may support future recovery in spends

CDSL demat additions slow in March; depositories set for mixed Q4 performance, says Equirus

Equirus Express: Mar’26 Demat account additions + 4QFY26E Depositories Preview – Demat account additions slows down for CDSL in Mar’26

Monthly demat additions for CDSL in Mar’26 declined to 1.84mn vs 2.38mn mom. For 4QFY26, overall net demat account additions stood at 7.38mn vs 7.57mn qoq.

Total demat accounts of CDSL as of Mar’26-end stood at 178.3mn vs 175.9mn as of Dec’25-end.

Overall cash ADTO in Mar’26 increased by 9.1% mom (+29.0% yoy) to Rs 1.345trn. ADTO of 4QFY26 stood at Rs 1.29trn vs Rs 1.07trn in 3QFY26, an increase of ~21% on qoq basis.

4QFY26E Depositories Preview

CDSL: We expect overall revenue to decrease by ~5.8% qoq driven by lower income in IPO/CA income. We are building-in ~11% qoq increase in transactional income owing to increase in cash market volume. We are building-in 1% qoq growth in annual issuer charge and ~52% qoq decline in IPO/CA income. Expect EBITDA margins to decline sequentially owing to lower revenues.

NSDL: We are building-in ~1.4% qoq increase in consolidated revenues while depository revenue is expected to decline 1.2% qoq. Depository income decline is expected due to decline in IPO/CA income. We are building-in 2% qoq growth in annual issuer charge while settlement fees is expected to grow ~18% qoq. Expect EBITDA margins of the company to decline to 29% vs 29.9% qoq on account of decline in revenue in depository business.

JPMorgan’s Dimon warns Iran war may drive inflation and interest rates higher

JPMorgan’s Dimon warns Iran war may drive inflation and interest rates higher

JPMorgan’s CEO Jamie Dimon warns that the Iran war could drive inflation and interest rates higher amid geopolitical tensions.

13 stocks including Titagarh, IRFC, Aurobindo Pharma to remain in focus on Tuesday

13 stocks to watch on Tuesday: Titagarh, IRFC, Aurobindo Pharma among key names

Stocks in news: Titagarh gets shipbuilding approval, IRFC sanctions ₹1,000 crore loan, Aurobindo Pharma posts positive trial results, others secure deals.

GE Shipping to sell MR tanker Jag Prakash; fleet now at 40 vessels

Great Eastern Shipping Company Limited (GE Shipping) has contracted to sell its 2007 built Medium Range Tanker Jag Prakash of about 47,848 dwt, to an unaffiliated third party. The vessel will be delivered to the new buyer in Q1 FY27.

Including Jag Prakash, the company’s current owned fleet stands at 40 vessels, comprising 26 Tankers (5 Crude Tankers, 17 Product Tankers, 4 LPG Carriers) and 14 Dry Bulk Carriers (2 Capesize, 9 Kamsarmax, 1 Ultramax, 2 Supramax) aggregating 3.20 mn dwt.

Keystone Realtors posts record pre-sales and collections for FY26, launches major redevelopment projects in Mumbai

Keystone Realtors Limited (NSE: RUSTOMJEE; BSE: 543669) has announced its operational updates for the fourth quarter and financial year ended March 31, 2026. Operating under the well-known ‘Rustomjee’ brand, the company reported its highest-ever quarterly pre-sales and collections, significantly surpassing its annual guidance for the fiscal year.

Operational Performance Snapshot

For the full year FY26, the company achieved total Pre-Sales of INR 40.22 billion, marking a robust 33% Year-on-Year (YoY) growth compared to INR 30.28 billion in FY25. Total Collections for the year stood at INR 26.21 billion, a 13% YoY increase. The total area sold grew by 25%, reaching 2.12 million square feet.

Quarterly Highlights (Q4FY26 vs Q4FY25)

The fourth quarter was particularly strong, with the company achieving its best-ever quarterly pre-sales of INR 13.46 billion, representing a massive 58% YoY surge. Collections for the quarter also hit a record high at INR 8.53 billion, up 14% YoY. During this period, the company launched two premium projects-Bandstand Cama in Bandra West and Rustomjee Vista Bay in Sewri-with a combined estimated Gross Development Value (GDV) of INR 39.78 billion.

Strategic Expansion & Redevelopment Focus

Keystone Realtors continues to strengthen its leadership in the Mumbai redevelopment market. In FY26, the company added five new projects with a total GDV of INR 104.20 billion, reflecting a 118% YoY growth in business development. Notably, all additions this year were redevelopment projects. The company successfully achieved 174% of its annual business development guidance and 140% of its launch guidance.

Reflecting this operational momentum, the company maintains strong credit ratings of A+ (Stable) from ICRA and A+ (Positive) from India Ratings.

Ethos Ltd opens new luxury watch boutique in Mumbai’s Breach Candy

Ethos Ltd has inaugurated a new Ethos Watch Boutique located at Ground Floor, Shop no. 2, Hormuz Mansion, Bhulabhai Desai Marg, Breach Candy, Mumbai, Maharashtra – 400026.

This boutique marks a significant milestone in strengthening our luxury brand portfolio and further consolidates our presence in one of India’s most prominent luxury retail markets. With this launch, the Company continues to make the world’s most exclusive brands more accessible to discerning customers in India, in line with our strategic vision of delivering unparalleled luxury experiences.

Apeejay Surrendra Park Hotels expands with three new launches in Darjeeling, Gangtok, and Katra

Apeejay Surrendra Park Hotels Limited (ASPHL) continues to accelerate its growth trajectory with the launch of three new hotels on March 31, 2026 – marking a significant expansion of its presence across key leisure destinations in India. The Group announces the launch of Zone by The Park Darjeeling, Zone Connect by The Park Gangtok, and Zone Connect by The Park Katra.

By entering these iconic geographies simultaneously, the Group reinforces its position as a dominant force in India’s design-led and mid-scale hospitality sectors.

– Zone by The Park Darjeeling marks the entry into one of India’s most iconic hill destinations, bringing its signature design-forward sensibility, vibrant social spaces, and tech-savvy design to the “Queen of the Hills.”

– Zone Connect by The Park Gangtok caters to the growing demand for well-planned stays in a key hill destination, serving both leisure and adventure travellers.

– Zone Connect by The Park Katra marks the brand’s presence one of India’s most prominent spiritual destinations, offering a comfortable and efficient stay for visiting pilgrims and travellers.

Commenting on the milestone, Mr Vikas Ahluwalia, Associate Vice President and National Head – Zone by The Park Hotels, stated, “The simultaneous launch of these three hotels underscores our commitment to rapid growth and the strategic diversification of our portfolio. By establishing a presence in these vital getaways – from the spiritual heart of Katra to the serene heights of Darjeeling and Gangtok – we are meeting the evolving needs of the modern traveller. We look forward to a transformative 2026 as we continue our journey into new and exciting destinations.”

Nykaa Q4 delivers highest growth in 12 quarters, strong gains in beauty and fashion verticals

ykaa (FSN E-Commerce Ventures Limited along with its subsidiaries) delivered strong performance in Q4 FY2026 with Consolidated GMV growth expected to be in late twenties. Consolidated NSV growth is expected to be higher in early thirties. Consolidated Net Revenue growth is expected to be in late twenties, marking the highest growth in the last 12 quarters. This strong performance came on the back of acceleration in Fashion vertical along with sustained strong performance of Beauty vertical.

With this, Nykaa’s Consolidated NSV growth for full year FY2026 is expected to accelerate to late twenties, up from mid-twenties growth seen in last 2 years. Net Revenue for FY2026 is expected to improve to upper end of mid-twenties, reflecting consistently healthy performance across all verticals.

Nykaa’s Beauty vertical is expected to deliver GMV, NSV and Net Revenue growth of late twenties with NSV slightly higher than the GMV and Net Revenue growth. GMV to NSV conversion has improved meaningfully, driven by funnel improvement across businesses. Omnichannel performance remained strong and House of Nykaa continued to grow faster, scaling well and contributing meaningfully to overall performance.

The retail network saw strong expansion this quarter with record number of store additions – 26 new store openings and 11 Kiehl’s store integrations in Q4 FY2026, marking the highest quarterly addition to date. With this, the total store count stands at 313 as of 31st March 2026.

Nykaa’s Fashion vertical has demonstrated steady growth revival since the start of FY2026. This trajectory is expected to strengthen further in Q4 FY2026, with GMV growth of late twenties and NSV growth tracking ahead at early forties. The superior performance was driven by improving momentum in platform business including funnel improvement and robust customer acquisition. Brand assortment continued getting richer, the Nike partnership showed early traction and Pink Love Sale delivered a solid outcome along with an uptick in marketing income.

SpaceX plans retail-heavy IPO, aims for record listing

SpaceX plans retail-heavy IPO aiming for $75 billion and $1.75 trillion valuation

SpaceX plans a record IPO with strong retail investor focus, aiming to raise $75 billion and reach a valuation of up to $1.75 trillion.

PNGS Reva Diamond Jewellery Q4 revenue soars 139% YoY, driven by strong festive sales and store expansion

PNGS Reva Diamond Jewellery Limited, a branded Certified Natural diamond jewellery retailer backed by the 190+ years legacy of the P. N. Gadgil & Sons Group, with a strong presence in Western India & an expanding retail footprint across key markets, reports its business update for the Fourth Quarter ended March 31, 2026.

Financial Performance Summary

Total Revenue from Operations: ₹1,382.14 Million (Q4 FY26) vs. ₹578.14 Million (Q4 FY25) – Up 139.07%

Revenue Excluding Gold Sales: ₹1,138.33 Million (Q4 FY26) vs. ₹578.14 Million (Q4 FY25) – Up 96.90%

Revenue from Operations:

– The strong revenue growth (excluding Gold sales) of 96.90% YoY in Q4FY26, reflecting the company’s strength as a diamond jewellery retailer, supported by increased consumer demand, healthy volume growth and newly formed strong brand affinity.

Festive Sales:

– During Gudhi Padwa, the company recorded revenue of ~₹70 Millions, compared to ~₹20 Millions in the previous year, reflecting a strong year-on-year growth of 2.5x.

– During Valentine’s Day, the company witnessed strong sales, contributing meaningfully to the overall quarterly performance.

Store Expansion:

During March 2026 month company launched one new COCO store and one new SIS store, taking the total store count to 36 (2 COCO stores and 34 SIS stores as of 31-March-2026) compared to 33 SIS Stores as of 31-March-2025.

Growth Outlook:

– The Company remains focused on driving growth through a calibrated store expansion strategy, with plans for the roll-out of ~15 COCO stores over the next 24 months from IPO date out of which we have established 1 store in March 2026 month. The expansion will be supported by the deployment of IPO proceeds towards store capex, inventory and brand-building initiatives. In addition to this, whenever promoter group company will put their store, PNGS Reva Diamond Jewellery will have a SIS arrangement with them. So that will be a passive growth alongside active growth of 15 EBO’s.

– The store roll-out will be strategically executed across Maharashtra and select pan-India markets, particularly in high-footfall locations, aimed at strengthening brand presence and enhancing market reach, while capitalizing on the growing consumer preference for branded diamond jewellery.

East India Drums and Barrels wins ₹1.06 crore BPCL contract for metallic drums supply

East India Drums and Barrels Manufacturing Limited has received a Letter of Acceptance (LOA) from Bharat Petroleum Corporation Limited (BPCL), Petroleum House, for the supply of Metallic drums/barrels, with an aggregate contract value of Rs. 1,06,00,000 (Rupees One Crore Six Lakh only).

The supplies under the said contract shall be made to BPCL at Mumbai Refinery, Mahul, India.

PC Jeweller Q4 revenue up 32% YoY, advances turnaround and debt reduction efforts

PC Jeweller Limited has announced its business update for the quarter ended 31st March 2026. PC Jeweller Limited, one of the leading players in the jewellery industry and amongst the top brands in studded jewellery, continued to deliver a robust quarterly performance, concluding Q4FY2026 with a standalone revenue growth of approximately 32% YoY. Consistent performance across all quarters has contributed to FY2026 emerging as a very positive year with a revenue growth of approximately 49% YoY, marking meaningful progress in the Company’s ongoing turn around journey.

During the quarter, the company executed a Memorandum of Understanding with National Skill Development Corporation under the Ministry of Skill Development & Entrepreneurship, Government of India to act as an Industry/Franchise Partner for the Gems & Jewellery Sector. Under this initiative, the Company aims to facilitate the development and onboarding of upto 2,00,000 micro-entrepreneurs across India over a 5-year period under the PC Jeweller Brand. The initiative offers the Company an opportunity to expand its retail footprint, while simultaneously contributing to employment generation, entrepreneurship development, and local economic growth through creation of a nationwide network of entrepreneurs under its brand. Further, the Company remains committed to its target of achieving a debt-free status in near future. In line with this objective, during the quarter, the Company has successfully further reduced its outstanding debt of banks under the terms of Joint Settlement Agreement by approximately 23%. Notably, the Company has repaid majority of its outstanding debt that was due to the banks under the terms of Joint Settlement Agreement, demonstrating significant progress towards its financial goals.

Fino Payments Bank reports record deposits and strong loan referral growth in Q4FY26

Fino Payments Bank Limited (”Bank”) has announced business performance for Q4FY26:

Liabilities – ~7 lakh new bank accounts opened in Q4FY26 (March 2026: 3.13 lakh); total customer base at ~1.75 crore. – Highest-ever quarterly renewal income of ₹62.2 crore.

– Deposits peaked at ₹2,950+ crore in March 2026 (all-time high). Loan Referral Strong momentum with 96% growth over Q3FY26, disbursements reaching ~₹600 crore through partner institutions, highlighting the growing credit potential within the ecosystem, and laying the foundation for the SFB journey ahead. Transaction Business (Remittance, Micro ATM, AePS) Declined ~30% vs Q3FY26 due to muted January & February 2026; however, witnessed a recovery in March 2026. Digital Payment Services – Moderation of ~25% vs Q3FY26, in line with our continuous risk-calibrated approach and impact due to recent developments. – Focus remains on building a high-quality, active, and risk-mitigated merchant base.

Godrej Consumer Products Ltd – Quarterly Update Q4FY26

This update provides an overall summary of the operating performance and demand trends during the quarter ended March 31, 2026. This is based on internal unaudited management reports. A detailed performance update will be shared following the Board of Directors’ approval of the Q4 FY26 financial results. The demand conditions and consumer sentiment remained steady in the domestic FMCG sector through Q4 FY26, with trade channels normalizing following the GST transition and food inflation easing. Policy tailwinds, including personal income tax relief and GST rationalization do position the industry well to offset the impact of crude led inflation as we enter FY27.

Against this backdrop, our Standalone business is expected to deliver double-digit underlying sales growth and high-single digit underlying volume growth in Q4 FY26, in line with guidance provided at our last analyst interaction. Excluding soaps, volume growth continues in double-digits, positioning GCPL among the volume growth leaders in the Indian FMCG sector. Growth has been broad-based, with all our future categories growing well. Standalone EBITDA margins are expected to sustain within our normative range, supported by meaningful cost savings in Q4. As guided earlier, our Indonesia business continues to show signs of stabilization with the peak of the competitive intensity behind us. Underlying volume growth is expected at mid-single digit in Q4, with market share gains sustained across categories. The GAUM (Godrej Africa, USA, and Middle East) business continues to deliver strong results, with double-digit sales growth and high-single volume growth. The growth has been broad based across geographies and categories with Hair Fashion and other categories continuing to see strong consumer traction of our products across markets. At a Consolidated level, we expect to deliver close to double-digit revenue growth, consistent with the sequential improvement trajectory through the year, with EBITDA growth broadly in line with revenue. We remain conscious of the volatility of the situation. If there is a further significant further cost escalation from current levels, we may have to re-assess the situation and our plans. We remain confident in the resilience of our portfolio, the strength of our brands, and our ability to deliver sustained, profitable growth going forward. The exit trajectory, combined with a favourable base, and continued strong domestic execution, positions us well for an acceleration into FY27.

Gallantt Ispat posts strong Q4 growth, pellet production surges 59% YoY

Gallantt Ispat Limited (NSE: GALLANTT; BSE: 532726) has released its provisional production and revenue data for the fourth quarter and full financial year ended March 31, 2026. The company demonstrated significant growth across its integrated steel manufacturing value chain, particularly in its upstream pellet and sponge iron operations.

Production Performance Highlights

The company saw a robust increase in output, driven by improved capacity utilization, which reached 91% in Q4 and 86% for the full year FY26.

Pellets: The standout performer, with Q4 production jumping 59% YoY to 2,21,612 MT. For the full year, pellet production rose 37% to 8,18,865 MT.

US military ramps up airstrikes on Iran, with more attacks expected tomorrow

TRUMP:

Over the past 37 days, America’s armed forces have carried out more than 10,000 combat flights over Iran, striking more than 13,000 targets.

US Secretary of War Hegseth: Today will be the largest volume of strikes on Iran. Tomorrow’s strikes on Iran will be more than today.

JPMorgan’s Jamie Dimon warns America must get stronger or risk losing its edge

JP Morgan Chase CEO Jamie Dimon just released his annual shareholder letter.

His message: America has no divine right to success. It needs to get stronger or risk losing its position.

JPMorgan is putting $1.5 trillion behind that conviction over the next decade through a Security and Resiliency Initiative, plus another American Dream Initiative aimed at expanding economic opportunity locally.

On the Iran war: it risks future oil and commodity price shocks and “time will tell” whether it achieves its goals.

On Europe: currently on a “bad path.” Dimon wants one big free trade deal with all of Europe in exchange for economic and military reforms.

On AI: adoption will be “far faster” than electricity or the internet. JPMorgan will not put its head in the sand.

One of the most powerful bankers in the world is making his thoughts known, and they seem to be resonating with many.

Source: Bloomberg

Fund Flow Activity: 06 April 2026 

(Rs. In Crs.)

Turnover : (NSE + BSE)

F&O Volume: 202828.16 + 3092454.3 Total: 3295282.46

Provisional Cash: Only NSE

FII/FPI: NET SELL: -7839.62

(7922.1 – 15761.72) 

DII: NET BUY: +7950.01

(19408.89 – 11458.88)

Buyback update

Aurobindo Pharma Buyback

In the financial year 2026‑27, under the new buyback taxation rules, Aurobindo Pharma Limited has announced its share buyback program, with the stock being listed in the F&O segment.

– Current Market Price (CMP): ₹1,340 per share

– Buyback Price (BB Price): ₹1,475 per share

– Buyback Size: ₹800 crore

– Record Date for Entitlement: 17 April 2026

WIPRO: INVESTEC SAYS CO COULD POTENTIALLY UNDERTAKE A BUYBACK OF AROUND RS 16,000 CR

M&M Financial Services – Q4 Business Update

* Disbursement (Q4): ₹17,180 Cr ↑11% YoY

* FY26 Disbursement: ₹61,100 Cr ↑6% YoY

* AUM: ₹1.34 Lakh Cr ↑12% YoY

* Collection Efficiency: 98% (improved YoY)

* Asset Quality: Stage-3 at 3.4–3.5% ↓ YoY/QoQ

* Stage-2 Assets: 4.8–4.9% ↓

* Liquidity: Strong buffer of ₹9,000+ Cr

Impact: Positive

Equitas Small Finance Bank – Q4 Business Update 

* Advances: ₹46,183 Cr ↑21.6% YoY ↑6.7% QoQ

* Deposits: ₹46,533 Cr ↑8% YoY ↑6.6% QoQ

* CASA: ₹12,198 Cr ↓1.7% YoY ↓5.3% QoQ

* CASA Ratio: 26% vs 29% YoY ↓

* Microfinance: ↑27% YoY growth

* Cost of Funds: 6.93% vs 7.54% YoY ↓

* CD Ratio: 93.7% (elevated liquidity utilization)

Impact: Mixed

Titagarh Naval Systems gets in-principle approval for ₹610 crore shipyard expansion in West Bengal

Titagarh Naval Systems gets in-principle approval for ₹610 crore shipyard expansion in West Bengal

TNSL gets approval for Rs 610 crore shipyard expansion in West Bengal, boosting India’s shipbuilding, defence manufacturing and maritime capabilities.

WATCH: Today’s Stock Recommendation: April 7, 2026

Trading Guide for April 7, 2026: Intraday supports, resistances for Nifty50 stocks

Day Trading Guide for April 7, 2026: Intraday supports, resistances for Nifty50 stocks

Get essential intraday support and resistance levels for Nifty50 stocks with trade recommendations for successful day trading.

Emmvee Photovoltaic (Add)

Broker’s call: Emmvee Photovoltaic (Add)

Emmvee is currently setting up a 6 GW integrated cell and module manufacturing unit, which will take its total capacity to 16.3 GW and 8.9 GW module and cell, respectively, making it the fourth largest player in India

Orient Electric (Buy)

Broker’s call: Orient Electric (Buy)

We model Orient to report revenue and PAT CAGRs of 11.7 per cent and 25.4 per cent, respectively, over FY25–28E

Bajaj Alternate Investment Management secures PMS licence from SEBI

Bajaj Alternate Investment Management secures PMS licence from SEBI

With this, the firm strengthens its positioning as a diversified investment platform offering comprehensive solutions across AIFs and PMS, the company said in a statement

SP Group gets relief on $3.4 billion private credit debt

SP Group gets relief on $3.4 billion private credit debt

SP Group’s Porteast Investment secures temporary debt relief, raising loan-to-value limits to mitigate financial pressures amid falling collateral values.

Equirus Securities ties up with Aletheia Capital, ropes in Jim Walker as Global Economic Advisor

Equirus Securities ties up with Aletheia Capital, ropes in Jim Walker as Global Economic Advisor

Equirus Securities partners with Aletheia Capital, appointing Jim Walker as Global Economic Advisor to enhance macro research for clients.

NSE to launch Brent Crude futures based on Platts benchmark

NSE to launch Brent Crude futures based on Platts benchmark

NSE to launch Brent Crude futures contracts based on Platts benchmarks, enhancing India’s energy derivatives market and global alignment.

Stock to buy today: Tata Consumer Products (₹1,053.35)

Stock to buy today: Tata Consumer Products (₹1,053.35)

The upswing can lift the stock to ₹1,120. So, buy at ₹1,050 and ₹1,020. Place stop-loss at ₹990. On a rally to ₹1,075 and ₹1,100, revise stop-loss to ₹1,050 and ₹1,080 respectively. Exit at ₹1,120