HSBC assigns a ‘Buy’ to JSW Steel, Jindal Stainless
HSBC has initiated coverage on JSW Steel and Jindal Stainless with Buy ratings, anticipating a multi-year demand upcycle fueled by infrastructure and urbanization. The bank also reiterated a Buy on Tata Steel, highlighting strong balance sheets and margin expansion as key sector tailwinds, with price targets implying significant upside.
Rupee under pressure from oil, dollar demand
The Indian rupee weakened significantly on Tuesday, closing at 94.54 against the US dollar. Rising oil prices and strong dollar demand from importers pressured the currency. Traders noted the Reserve Bank of India likely intervened to curb further losses. Elevated oil prices and global trade uncertainties are creating a negative sentiment for the rupee.
New launches, capacity hike to lift Maruti Suzuki facing a war squeeze
Maruti Suzuki’s March quarter net profit declined due to mark-to-market losses, input costs, and production constraints. The company is expanding capacity and expects margin improvement by FY30, driven by SUV launches and EV growth. Despite short-term pressures, FY26 saw record volumes and sales.
US stocks today: Nasdaq, S&P 500 end lower on renewed AI growth worries ahead of big tech earnings
U.S. stocks retreated from record highs as concerns over the AI boom and OpenAI’s performance weighed on tech shares. Investors are anticipating quarterly results from major AI firms, while the Federal Reserve’s stance on inflation amid soaring crude prices remains a key focus.
Peak XV exits One MobiKwik Systems in Rs 130 crore block deal: Report
Venture capital firm Peak XV Partners has exited Indian fintech One MobiKwik Systems. The firm sold its stake for over Rs 130 crore. This exit follows One MobiKwik’s significant milestone. The Reserve Bank of India approved its application for a Non-Banking Financial Company license. This approval allows the company to launch a new lending arm.
Broader markets rally! These 10 smallcap stocks jumped up to 57% in April so far
Indian stock markets have made a partial recovery in April so far, following the incessant March selloff triggered by the onset of the Iran-US war. Interestingly, broader markets have outperformed benchmarks during this period, with Nifty Smallcap 250 index rallying around 17% so far this month, eclipsing Nifty’s 8% surge in the same period. Here […]
Sun Pharma-Organon deal: How a $12-billion merger will reshape India’s pharma landscape
Sun Pharma is set to nearly double its revenue to $12 billion with the acquisition of Organon, creating a global pharmaceutical giant. The deal leverages Organon’s strengths in women’s health, biosimilars, and established brands, aiming for significant growth despite geopolitical concerns. Integration plans and manageable debt are key to the strategic move.
Reliance share price target hiked to Rs 1,910: Why Goldman, CLSA, and Morgan Stanley are betting big
Reliance Industries is gaining traction as Goldman Sachs raises its target price, with global brokerages predicting significant upside despite a recent 13% stock dip. Analysts are optimistic about the oil-to-chemicals business recovery, the impending Jio IPO, and Reliance’s integrated downstream advantage in a tightening market.
Tata Steel shares jump 2% to fresh record high: What’s driving the gains?
Tata Steel shares surged to a new record high on Tuesday. This rise followed the Odisha High Court’s decision to quash state government demand notices totaling nearly Rs 4,314 crore. The company had contested these notices related to its Sukinda Chromite Block.
Varun Beverages shares jump 9% in 3 days. Why Jefferies, Motilal, and others are bullish after Q4 results?
Varun Beverages shares extended gains after strong Q1 CY2026 results, with double-digit growth in profit, revenue, and volumes. Brokerages remain bullish, citing robust demand, margin resilience, and growth from international markets, while competition and input costs remain key monitorables for the company.