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Aravind Melligeri, Aequs On CNBC-TV18

Rupee Check | Rupee Opens At 94.22/$ Vs Thursday’s Close Of 94.11/$

The promoters of the Rolex Rings owned 52.2% of the company at the end of the fourth quarter. According to information available on the exchanges, over 71,000 retail investors, or those with authorised share capital of up to ₹2 lakh, held an 8.8% interest in the company, while mutual funds held a 28.7% position among public shareholders.

Lux Industries stated that the updated trademark licensing agreement between the company and Biswanth Hosiery Mills Ltd. (BHML) is approved and executed in accordance with the FSA and on the advice of its audit committee in order to protect the company’s rights and obligations over the licensed brands.

On Friday, April 24, shares of LTIMindtree Ltd. will be closely watched following the company’s March quarter results, which were essentially in line with expectations.

Here’s a list of stocks in focus going into trade today

Here’s a list of stocks in focus going into trade today

Here’s how the global market cues are placed this morning

Here’s how the global market cues are placed this morning

With effect from April 23, AU Small Finance Bank has announced an increase in interest rates for savings accounts, fixed deposits (FDs), and recurring deposits (RDs).

Downgrade India to underweight, from neutral.

Rajiv Batra – JPM

Downgrade Indian equities to Neutral

Structural story intact, but tactical headwinds warrant patience

Key drivers of the downgrade

(1) Valuation gap narrowing, but still stretched – India’s premium to MSCI EM has compressed to 65% (from a 109% peak), reflecting some re-rating, but peers like Korea, Brazil and China still offer cheaper entry points for similar or better forward growth.

(2) Earnings at risk – Energy supply disruptions are likely to pressure earnings through multiple channels. Our sector analysts have cut FY27 estimates by 2-10% across key sectors, and we lowered CY26E/27E MSCI India EPS growth by 2%/1%, to 11%/13%.

(3) Dilution caps upside – Large domestic inflows (~US$120bn since early 2025) have cushioned a record ~US$37bn FII exodus, but ~US$64bn in IPO/QIP issuance and promoter sales are diluting existing holders and capping upside, a stark contrast to the US, where buybacks persistently retire equity

(4) Limited next-gen tech exposure – India’s large-cap index has minimal AI, datacenter and semiconductor representation relative to the US, Korea, China and Taiwan.

(5) Monsoon risk – IMD pegs the 2026 monsoon at just 92% of LPA with El Niño developing, threatening rural incomes and food inflation.

Overall, see better opportunities elsewhere in EM until valuations de-rate further or earnings visibility improves.

TRADE SET UP

Software Sells Off Overnight !

GIFT Nifty trades higher, indicating a muted start for the Indian market

Finance Minister Sitharaman has warned banks about the need for extreme prudence, readiness, and coordination when it comes to new artificial intelligence technologies.

As tensions between the two nations continue to rise amid stalled peace negotiations, experts told CNBC-TV18 that the United States is unlikely to relax its naval blockade in the Strait of Hormuz unless Iran makes major concessions.

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