April 08, 2026

LATEST NEWS

 

>>10:00 AM

Jubilant Foodworks: The company has informed that the availability of energy supply has improved over the past weeks and operations are now back to normal levels. Further, it has indicated that the proportion of stores dependent on LPG for operations is progressively reducing through movement to alternate energy sources. Positive

 

TOP NEWS


War update: US President Donald Trump announced a 'double-sided ceasefire', stating that the United States will suspend bombing and attacks on Iran for two weeks, subject to Iran agreeing to the complete, immediate, and safe opening of the Strait of Hormuz. Trump added that the US has received a 10-point proposal from Iran, which he described as a workable basis for a longer-term agreement. Meanwhile, oil prices fell below $100 a barrel after Iran agreed to safe passage through the Strait of Hormuz during the ceasefire. Biggest Intra-Day Fall In Oil In Last 6 Years.  Iran has agreed to reopen the Strait of Hormuz for two weeks provided all attacks are halted, adding that transit would need to be coordinated with Iran’s Armed Forces, while Israel has also reportedly assented to the temporary ceasefire. Asia markets moved higher, led by South Korea's Kospi, which surged 5.3%. Japan's Nikkei 225 widened gains to 4.5%, while the Topix rose 3.2%. Australia's S&P/ASX 200 also advanced 2.7%. The GIFT Nifty surged by 3.5% or over 750 points to 23,857.50. We believe this will be an inflexion point and one should look at beaten down stocks for investment. Positive for down stream companies, aviation companies, paint companies and also fertilizer companies. With the geopolitical tensions being settling down all eyes should be now on today’s RBI policy and the upcoming results seasons. Wherein we are already got some banking , retail and other business updates which has put the base for strong earnings season. HPCL/BPCL, L&T, Aviation companies, Pain companies, Tyre companies

 

Titan Q4FY26 update – Strong performance

  • Consume business grew by 46% y-o-y, led by domestic business growth of 42% and international business growth of 156%.
  • Within the domestic business
    • Jewellery grew 46% y-o-y (Tanishq, Zoya, Mia, beYon grew by 47% and  CaratLane  by 24%). Within categories, studded grew strongly in early thirties, gold (plain) clocked growth in the mid-thirties and coins nearly tripled in sales. LFL growths (secondary) across all the jewellery retail formats (combined) were close to ~48% y-o-y. Of the 27 net store additions in India, 8 were in Tanishq, 14 in Mia and 5 in CaratLane.
    • Watches grew 7% y-o-y (Analog Watches up 16%, while Smart Watches declined 53%). Division added 30 net stores consisting of 17 stores in Titan World, 7 stores in Fastrack, 4 stores in Helios and 2 store in Helios Luxe.
    • Eyecare grew 16% y-o-y. The division renovated 37 stores, closed 32 stores and added 12 new stores during the quarter.
    • Emerging businesses grew 17% y-o-y (Fragrances grew 30%, Women’s Bags grew 47%, Taneira declined 1%). Irth added 6 stores while Taneira closed 1 store during the quarter.
  • The company added 47 stores (net) during Q4 expanding Titan’s combined retail network presence to 3,603 stores.

View: Strong update driven by good domestic jewellery business performance. Positive

 

Biocon The global biopharmaceutical company announced the commercial launch of Bosaya (denosumab-kyqq) and Aukelso (denosumab-kyqq) in the United States. Both products were previously approved and granted interchangeable designation by the US Food and Drug Administration in September 2025 Read More:

 

Prestige Estates Projects: The company reported record FY26 pre-sales of ₹30,024 crore (+76% YoY), with Q4 pre-sales at ₹7,697 crore (+10% YoY). The strong performance was driven by sustained demand across key markets including Bengaluru, NCR, Mumbai, Hyderabad, and Chennai, marking a milestone year for the company.

 

Ashiana Housing Limited : The company reported a strong FY26 performance with record bookings of ₹2,421 crore, up ~25% YoY, driven by robust Q4FY26 sales of ₹1,290 crore, which grew ~124% YoY and ~225% QoQ. Total area booked stood at 26.7 lakh sq. ft. (+~4% YoY), with Q4 contributing 11.2 lakh sq. ft. The company also saw strong traction in its senior living segment, with sales rising ~49% YoY to ₹570 crore. Growth was supported by new launches, particularly in Gurugram, indicating healthy demand momentum.

 

IHCL: As per the company’s latest press release, IHCL has continued its growth momentum reaching a portfolio 628 hotels with a pipeline of 255 hotels. During FY26, the company signed 250 hotels through inorganic and sustained organic growth and opened 132 hotels entering new markets of Lakshadweep, Ekta Nagar, Raichak, Kanpur, Vrindavan and Bhutan and strengthening its presence in Goa, Ahmedabad, Coorg, Kochi, Gurugram, Delhi, Varanasi, Udaipur, Haridwar and Dehradun. IHCL is well poised to achieve its goal of a 700-hotel portfolio under its strategy - Accelerate 2030.

 

Birla Estates : The company has recorded bookings of over ₹1,600 crore for Birla Arika Phase 2 in Gurugram, with ~97% of units sold within a month of launch. The strong response highlights robust demand for luxury housing in NCR and reinforces the company’s growing presence in the premium residential segment.

 

MACRO WRAP

  • Today RBI will be announcing its monetary policy decision and as per the consensus estimates the central bank is expected to keep status quo on key policy rates. However, governors address on inflation & growth outlook and any other measure to keep rupee and liquidity in check would be the key to watch out for.
  • India Inc: RBI will be announcing its monetary policy decision and as per the consensus estimates the central bank is expected to keep status quo on key policy rates at 5.25%. However, governors’ address on inflation & growth outlook and any other measure to keep rupee and liquidity in check would be the key to watch out for.
  • The main theme overnight was the de-escalation in the Middle East conflict following intense diplomatic interventions. Pakistan acted as a mediator and requested a two-week extension of Tuesday’s deadline for Tehran to reopen the Strait of Hormuz. Trump also said Iran’s new 10-point proposal is ‘a workable basis on which to negotiate’, coming as Iran also reportedly accepted Pakistan’s ceasefire proposal, while Israel has also agreed to suspend bombings during negotiations. Israel has also said to suspend attacks for two weeks in order to support US decision. Sentimentally positive for broader market.
  • Iran and Oman plan to charge ships passing through the Strait of Hormuz under a two-week ceasefire. Iran intends to use the funds for reconstruction, while Oman’s plans remain unclear.
  • The DJIA fell 0.2% to 46,584. Both S&P500 and the Nasdaq Composite Index rose 0.1%. The Dollar Index edged down 0.1% to 99.86. EUR-USD rose 50 pips to 1.1595. The US 2Y yield fell 6bp to 3.79%. The US 10Y yield fell 4bp to 4.29, Brent crude oil prices fell 0.5% to USD109.27. Gold rose 1.2% to USD4,707.
  • On the data front, NY Fed median 1Y- and 3Y-ahead inflation expectations rose to 3.4% in March 2026 (prior: 3.0%) and 3.1% (prior: 3.0%) respectively, while core US capital goods orders fell another 1.4% m/m(consensus: -1.2%; prior: -0.5%), in contrast to leading indicators reflecting stronger demand for goods producers.
  • Global crude Oil slid the most in almost six years with WTI falling 19% and Brent decline 15% after the US and Iran agreed to a two-week ceasefire, WTI trading around $96 and Brent at $95 in Asian trading hours. Sentimentally positive for USD.
  •  

Investment Call:

 

Banking Preview Q4FY26 - Credit offtake to persist, margins to be stable

  • We expect NII growth of ~7.2% y-o-y, for our coverage, as NIMs on overall basis to remain flattish sequentially. Large private banks and PSU banks like SBI, Bank of Baroda, Bank of India, HDFC Bank, ICICI to report broadly flat margins (+/- 2 bps), while mid-sized banks like City Union Bank and AUSFB with higher yielding lending exposures to see sequential improvement in NIMs.
  • Fee income for the banks to see a healthy uptick in Q4FY26, driven by higher business activity. Conversely, treasury performance and trading gains are expected to decline sequentially, as the 10-year G-sec yield increased by over 35 bps q-o-q to reach 7.0%. Credit cost to remain under control and banks in our coverage universe are expected to post a PAT growth of 5.2% YoY on aggregate basis.
  • Loan growth for our coverage universe is estimated to be 14.5% y-o-y while deposits to rise by 11.5% y-o-y, credit growth would be led by PSU banks that gain market share. Loan growth to br driven by segments like MSME and Gold.
  • Asset quality to remain stable with stress peaking out in personal loan, credit cards, etc, but there could be a few hiccups in export-oriented or crude oil/gas sectors and input-dependent MSMEs.
  • Preferred Picks - Axis Bank, ICICI Bank, SBI

 

OTHER NEWS

 

Lemon Tree Hotels: The Competition Commission of India (CCI) has granted its approval for the acquisition of certain equity shares of Fleur Hotels Limited by Coastal Cedar Investments BV and the internal restructuring of the company group through amalgamation and demerger.

 

Tata Steel India achieved ‘best-ever annual’ crude steel production of 23.48 million tons. 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. However, deliveries volumes at Netherland and the UK operation for FY26 were a tad tepid at 6.14 MT (down 2% YoY) and 2.21 million tonnes( down 14% YoY), respectively. Positive

 

Aurobindo Pharma: Aurobindo Pharma received USFDA approval for Dapagliflozin & Metformin Hydrochloride extended-release tablets. Dapagliflozin & Metformin tablets are used to aid blood sugar control in adults with type-2 diabetes.

 

Lupin: The company has got the US FDA approval for Dapagliflozin tablets.

 

Sai Parenterals: Bhaskara Rao Bollineni bought 5.12 lakh shares at Rs. 409 per piece.

 

Prostarm: Received a ₹165 crore LoA from Solarium Green Energy as a subcontractor for EPC works for a 50 MWac solar PV project in Maharashtra (excluding 3-year O&M). Positive