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Rupee Ends At 94.25/$ Against Thursday’s Close Of 94.11/$

Dinesh Balachandran, Head of Investments, SBI Funds Management Limited

“When we think about markets, we have a framework that helps us think about asset allocation, and that helps us think about the overall market outlook. On that framework, if you go back 18 months, we had this very peculiar problem where you had a combination of valuations, sentiment and earnings outlook all throwing out red flags. Valuations were at the 90th percentile plus, depending on the exact measure that you use.”

“On the sentiment part, let’s assume if you have an index that ranges from minus one to plus one, we were at 0.79 or 0.8, close to the higher end of the range. And even from a near-term earnings outlook perspective, it felt like there was more scope for downgrades rather than upgrades. So that inherently made us quite cautious about markets.”

“Now, if I take it forward 18 months and think about where markets are right now, the good news is that a lot of the valuation froth has gone away from the market. So if valuations were at the 90th percentile plus back then, now they are somewhere in the 50th percentile range, depending again on the exact framework that you use.”

“Even on the sentiment side, if we were at the very high end of the range, right now it looks like we are in the middle part of the range. So on a minus one to plus one scale, you’re somewhere close to zero.”

“These are good things, but the question really is: are we at the lower end of the range? I’ve seen people make comparisons with the COVID environment and talk about how this is a similar opportunity. At least for us, that’s not the case. It has definitely become better and we are more constructive than we were. But are there “mouth-watering” opportunities where you’re getting really excited? Maybe at an individual stock level, but by and large it’s not so attractive yet. That is our objective assessment at this point.”

Gurmeet Chadha, Managing Partner & CIO, Complete Circle:

Very, very underweight on IT sector. Hardly, 3% odd weight, of which one is KPIT, HCLTech. HCLTech had a very disappointing quarter.

My bigger disappointment has been the commentary. It has been four or five years, especially with Infosys, TCS literally, no wealth creation, same, 1%, 2%, 3% kind of guidance and nothing really done with cash pile, no pivot announced. What the street is seeing is less intent also, and market is always forward looking with the kind of results they have.

This AI threat is not new, and the same concerns that discretionary spending will be up. If you play up last two quarters commentary, you will not find any change in terms of outlook, that intent is missing, and that’s where probably some of the midcap IT names may be able to pivot. I am not saying you have to acquire something on AI, but it is need to announce some plans, show something on a war footing. And this is globally, this is happening with other IT services company as well.

So, disappointing, and probably, something needs to be done more from a thought process perspective, otherwise, the numbers are unlikely to improve going forward as well.

Nirav Chheda, Independent Market Expert:

From 2024, it had made a high of around ₹1,750 or and it had come down now that high has been broken after a two-year period. So there is a breakout on the technical charts. And I believe this breakout, the target is around ₹2,400 for this stock. I would suggest to hold on and even average at current levels and on certain declines up to ₹1,750 odd level you can keep a stop loss of ₹1,650 for your longs, and just hold on. There is a good chance this stock will go up towards the ₹2,350-2,400 levels.

Shahina Mukadam, Independent Market Expert:

I would suggest continue to hold, not to add as of now, to review it post the numbers, because there are couple of issues that may impact its overall margins. Raw material prices, have gone up, secondly, in terms of they are exposed to US, truck sales which we were expecting to pick up in the fourth quarter may not really happen in this short-term period. So that needs to be reviewed as to how it is being on that front.

The positive for Bharat Forge because of which, I say, continue to hold at present, is the defence. Defence for them is doing pretty well. If you see, last year, it contributed just about less than 10% of their revenues, but within a year, the percentage to revenue contribution is going to jump up, I would believe, at least to 20% over the next one-year timeframe, and the margins also much higher. Because of that factor and the huge order book that they have got, compared to the actual execution they are expecting to, I would say, execute almost ₹3,000 crore worth of defence orders in FY27 which would give them that percentage of overall revenue, 20%.

Zensar Tech Q4

Net Profit up 5.4% at ₹210.6 crore from ₹199.8 crore (QoQ)

Revenue up 1.4% at ₹1,450.4 crore vs ₹1,430.7 crore (QoQ)

EBIT down 7.3% to ₹213 crore vs ₹229.6 crore (YoY)

Margin at 14.7% vs 16% (QoQ)

Metal companies are expected to see a profitability recovery in Q4 FY26, driven by better realisations, volume growth and operating leverage across segments.

Steel players, in particular, may see EBITDA per tonne rise by over ₹2,000 on higher prices and volumes, although elevated input costs could limit gains.

Shriram Fin Q4

Net Profit up 41% At ₹3,014 crore Vs ₹2,139 crore (YoY)

NII up 21% At ₹6,751 crore Vs ₹5,566 crore (YoY)

Board Recommends A Final Dividend Of ₹6/Share

Nifty 50 Top Losers Today:

JSW Motors & Tata Elxsi Partners For Connected & Software-Defined Mobility In India

Alkem Lab

Vikas Gupta Has Resigned From The Position Of CEO

He Shall Continue As CEO Upto June 30, 2026 For Smooth Transition Of Responsibilities

Net Profit At ₹5,033 Cr Vs CNBC-TV18 Poll Of ₹4,650 Cr

Revenue At ₹13,544 Cr Vs CNBC-TV18 Poll Of ₹11,999 Cr

EBITDA At ₹7,706 Cr Vs CNBC-TV18 Poll Of ₹7,117 Cr

Margin At 56.90% Vs CNBC-TV18 Poll Of 59.30%

Hind Zinc Q4

Net Profit up 67.6% at ₹5,033 Cr Vs ₹3,003 Cr (YoY)

Revenue up 49% at ₹13,544 Cr Vs ₹9,087 Cr (YoY)

EBITDA up 60% at ₹7,706 Cr Vs ₹4,820 Cr (YoY)

Margin at 56.90% Vs 53% (YoY)

Even though Chennai Petroleum Corporation Ltd. reported a solid quarter-over-quarter performance for the March quarter, its shares fell as much as 6% on Friday, April 24.

Read Full Result Here

The shares of Adani Green are looking to recover from the lows of the day after Q4 results.

The Indian markets are falling further, as the indices slump to the day’s low.

Middle East war driven jet fuel shortages force airlines to cancel flights worldwide, straining summer travel and exposing uneven passenger protections across regions

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As part of a transit media marketing campaign to raise awareness among daily commuters and intercity passengers, travel technology platform ixigo has purchased the branding rights for the New Delhi Metro Station.

The founder, CIO, and CEO of Sameeksha Capital, Bhavin Shah, notes that the IT industry is seeing slow growth and fundamental AI disruption. He is picky about companies like Mastek and believes there aren’t many aggressive prospects in the industry.

If history repeats itself, a few names could see significant rises when additional businesses report their earnings next week.

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Alkyl Amines Says | Supply Of Ammonia Improved To Restart The Production Of Ammonia-based Products

According to Asheesh Pandey, MD and CEO of the state-owned Union Bank of India, net interest margins (NIM) have probably reached their lowest point and are anticipated to rise in the future with continued efficiency initiatives. “We are confident that we will be able to improve it from this position and defend it [margins],” he stated.

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