Indian equities staged a sharp rebound with easing of geopolitical tensions as Iran and US agreed to a ceasefire at the last minute. Moneylife’s market breadth indicators entered the neutral territory after nearly three months in a bearish state, but early April has delivered rare flashes of strength. The first day of the month saw a broad-based rally, with participation expanding meaningfully across segments. That improvement was followed by another surge in the second week, marking the second notable breadth expansion of April 2026. On 8 April 2026, 1,146 stocks advanced more than 4.5%, while nearly 1,738 gained over 3%, marking breadth improvements for second time in April 2026. This rebound was particularly striking, with breadth strengthening alongside a sharp rally in global equities and a plunge in crude oil prices after the war halted temporarily. Indian equities led the global upswing with benchmark indices posting strong gains as easing supply concerns drove oil lower. Sustained participation across segments will be critical to determine whether these rallies evolve into a durable recovery or fade into another choppy phase.
The trends of the major indices in the course of the week's trading are given in the table below:
News
The Supreme Court refused to stay Adani’s ₹14,535 crore bid for JP Associates, directing all parties back to the national company law appellate tribunal (NCLAT). This marks a legal setback for Vedanta, clearing Adani’s near-term path in one of India’s largest insolvency cases. With creditor backing and NCLT approval, Adani moves closer to completing the high-profile JP Associates resolution. NCLAT will hear the JP Associates insolvency case on 13 April 206, with Vedanta contesting Adani’s approved ₹14,535 crore plan. Vedanta had bid ₹16,726 crore, raising questions on why a lower offer was chosen. The outcome could redefine the Insolvency Bankruptcy Code (IBC) approach to competitive bidding and creditor value maximisation.
NTPC signed a non-binding memorandum of understanding (MoU) with Électricité de France (EDF) to explore collaboration in nuclear power projects in India. The partnership will assess EDF’s European Pressurized Reactor (EPR) technology for Indian conditions, focusing on localisation, tariff economics, human resource (HR) training and site feasibility. This aligns with NTPC’s strategy to diversify its energy mix towards 149GW (gigawatt) by 2032, including 60GW renewables, while expanding into nuclear, e-mobility, storage and green hydrogen.
The Cabinet committee on economic affairs (CCEA) has approved ₹26,069.50 crore investment for the Kamala Hydro Electric Project (1720 MW) in Arunachal Pradesh, led by NHPC. The project will generate about 6,870 Million Units (MUs) annually, with nine units (8×210MW + 1×40MW-- megawatt) and a 96-month completion timeline. Funding includes ₹4,743.98 crore for flood moderation, ₹1,340 crore for enabling infrastructure and ₹750 crore Central assistance for the state’s equity share.
EaseMyTrip has signed anMoU with Delhi’s public works department (PWD) to adopt and enhance two major flyovers — Mayur Vihar phase-1 and Apsara. The initiative focuses on maintenance and aesthetic improvement.
GE Shipping has contracted the sale of its 2007 built tanker Jag Prakash (47,848DWT—deadweight tonnage) to a third party, with delivery scheduled in Q1FY26-27. Post-transaction, its fleet stands at 40 vessels (26 tankers, 14 dry bulk carriers; 3.20 Deadweight Tonnage (DWT). In parallel, the company has contracted to acquire one kamsarmax bulk carrier and one MR tanker, also slated for Q1FY26-27 completion.
ONGC reported a fire at its SHP platform (Mumbai High Asset) on 3 April 2026 at 17:45. The blaze was quickly controlled and extinguished, with 10 personnel sustaining minor injuries, all in stable condition. Operations have, since, been normalised, ensuring continuity of production and safety compliance.
Senores Pharmaceuticals expanded into the US market by forming Amerisyn, LLC in North Carolina through its subsidiary, Senores Pharmaceuticals, Inc, subscribing to 70% membership interest. The joint venture (JV), formalised on 2 April 2026, positions Senores to supply its portfolio to the US Federal government, including veterans affairs and military contracts, leveraging specialised credentials for long-term tenders.
Airtel expanded its 5G footprint in UP (East), deploying 4,300+ new sites over the past year. The rollout spans 48 districts, reaching 34mn (million) people across cities, towns and rural areas. Key hubs, like Lucknow, Kanpur, Varanasi, Prayagraj, Gorakhpur, Ayodhya and Jhansi, now benefit from enhanced high-speed connectivity.
Alkem Laboratories launched ‘A to Z Daily’, a multivitamin supplement designed for comprehensive body and mind support. It combines 26 essential vitamins and minerals (Vitamin B complex, D3, C, Zinc, Iron) with clinically researched botanicals like ashwagandha, brahmi, Panax ginseng, and L theanine. Unlike traditional multivitamins, it is positioned as an everyday support supplement to boost energy, immunity, stress management, sleep quality and cognitive function, aligning with long-term wellness needs.
Sona BLW Precision Forgings achieved major milestones with 500mn differential gears and 10mn assemblies produced since inception. The company, serving Battery Electric Vehicles (BEVs), passenger, commercial and off highway vehicles, began production at Gurugram (1999) and Pune (2005). Its accelerated output — the last 100mn gears in just two years.
PDS Limited entered into a sourcing-as-a-service (SaaS) contract with a major US value retailer, expected to drive ₹450 crore in sourcing volumes. The partnership leverages PDS’s global vendor network and compliance expertise, strengthening supply-chain execution. This deal expands PDS’s footprint in the US retail market, aligning with its strategy to scale fashion infrastructure services globally.
Railtel entered a strategic partnership with a leading cloud provider to expand its digital service portfolio. The collaboration will deliver IaaS (Infrastructure as a Service), PaaS (Platform as a Service), and SaaS (Software as a Service) solutions, enhancing scalability, compliance and operational efficiency for clients.
RBI governor, Sanjay Malhotra, has clarified that no material governance or conduct concerns have been found in HDFC Bank during supervisory assessment. He added that, based on current evaluation, there is no need for regulatory action, offering reassurance amid sector scrutiny.
Ixigo Trains and ConfirmTkt’s partnership with Swiggy significantly enhances the food on train service, giving passengers access to meals from 40,000+ restaurants across 160+ stations. Orders can be placed from four days to 30 minutes before arrival, with real-time tracking and delivery directly to berths.
Lemon Tree Hotels received CCI (competition commission of India) approval (7 April 2026) for Coastal Cedar Investments BV’s acquisition of equity in Fleur Hotels Ltd. The nod also covers internal restructuring via amalgamation and demerger, enabling the group to proceed with compliance steps. The detailed CCI order is awaited which will outline final terms and conditions of the approval.
Aurobindo Pharma received final approval from the US food and drug administration (US FDA) to launch both Dapagliflozin + Metformin ER (extended release) tablets (bioequivalent to Xigduo XR, US$514 million market) and Dapagliflozin Tablets (bioequivalent to Farxiga, US$10.2 billion market). Both will be manufactured at APL Healthcare unit-4 and launched immediately, with 180-day shared exclusivity under Paragraph-4 certification. This takes Aurobindo’s tally to 579 ANDA (abbreviated new drug application) approvals (554 final, 25 tentative), reinforcing its strong US generics portfolio in diabetes care.
The Securities and Exchange Board of India (SEBI) issued an administrative warning to Gujarat Mineral Development Corporation (GMDC) after probing suspected insider trading between December 2023 and January 2024. The regulator found GMDC’s 8 January 2024 press release on Surkha (N) lignite mine clearance lacked full compliance with disclosure norms. While carrying no monetary penalty, SEBI advised stricter disclosure standards, with no material impact expected.
RITES amended its contract with NALCO, raising the value from ₹79.73 crore to ₹118.89 crore. The deal covers detailed engineering & project management consultancy for railway siding at Sankerjang (Utkal D coal mines) to be executed on a cost-plus turnkey basis.
Ashiana Housing acquired a 28.55 acre land parcel in Vadgaon (Pune), its largest yet for senior living. The project will span 2.0mnsqft (million sqft). saleable area, with an estimated ₹1,800 crore revenue potential.
BEML and Delhi Metro Rail Corporation signed an MoU to jointly pursue rail and metro projects in India and abroad. The partnership will leverage both firms’ strengths to identify, bid and execute projects, enhancing competitiveness in the sector.
Adani Green Energy’s United Arab Emirates (UAE) arm (AGEL UAE) entered into a JV with Minerva Holding RSC Ltd, forming Minerva Renewables Holding RSC Limited. The JV will develop and operate renewable energy projects in India, with AGEL UAE holding up to 20%. Minerva, backed by EPointZero Holding (IHC PJSC’s energy arm), will appoint four directors, while Adani Green Energy will appoint one, reflecting a governance structure tilted towards Minerva’s operational control.
Anant Raj signed a supplementary agreement with Destination Properties to update terms of their Gurugram housing collaboration. The project spans 5.0875 acres (Destination contributing 2.25 acres) under a revenue sharing model, with Anant Raj holding exclusive development, marketing and sales rights. Revenue will be shared via a RERA-compliant mechanism, with post-completion reconciliation of unsold inventory, while Destination reimburses Anant Raj for TDR acquisition costs, subject to regulatory approvals.
Glenmark Pharma received final US FDA approval for its progesterone vaginal inserts, 100mg, found bioequivalent to Endometrin® by Ferring. The product, to be marketed in the US by Glenmark Inc, strengthens its women’s healthcare portfolio with affordable access. Per IQVIA data (February 2026), the reference market size is about US$59.2mn annually, underscoring the commercial potential of this approval.
BSE Limited has received SEBI approval to launch derivatives on the BSE Focused IT Index. The Index tracks 14 IT companies, enabling targeted hedging and trading exposure to the sector. This move expands BSE’s derivatives offerings in line with rising demand for sector-specific instruments.
Orders
Larsen & Toubro (L&T) emerged as the lowest bidder for a ₹22,500 crore package, covering projects like NTPC Lara stage‑3 (2×800MW, Chhattisgarh) and DVC‑CIL Chandrapura (2×800MW, Jharkhand). Meanwhile, Bharat Heavy Electricals Limited (BHEL) is the lowest bidder for a ₹10,300 crore package, tied to the Odisha Genco thermal power expansion, strengthening its position in the power equipment segment.
KEC International secured ₹2,518 crore in new orders across civil, transportation, T&D (transmission & distribution) and cables divisions-- the largest-ever commercial real estate order from a leading western India developer. JV order in Train Collision Avoidance System (Kavach), boosting rail safety. 400/132/66 kilo volts lines in Africa, substations globally, plus towers/hardware supply in Europe & Americas. Fresh domestic and international supply contracts strengthen KEC’s market presence.
DilipBuildcon been declared L-1 bidder for the ₹268 crore Ged barrage project on the Sabarmati River. The engineering-procurement-construction (EPC) contract spans design, construction, protection works and allied activities, with a 24-month execution timeline plus 10 years of operation & maintenance (O&M).
Dredging Corporation of India secured a ₹770 crore contract. The project involves extensive dredging operations, expected to positively impact financials in upcoming quarters. This win reinforces the company’s expertise and competitive edge in the dredging sector.
Deep Industries secured a ₹59-crore letter of award from ONGC for services at the Malleswaram site (Rajamundry Asset). The three-year contract covers natural gas compression, gas dehydration and hydrocarbon dew point depression, critical for efficient gas processing.
Rail Vikas Nigam secured a ₹242.5-crore contract from South Central Railway for upgrading the Ongole-Gudur section (154 route kilometres /462 track kilometres) to a 2X25kV (kilovolt) autotransformer (AT) feeding system. The project, covering design to commissioning, will be executed over 24 months, with no related party involvement.
GR Infraprojects signed a ₹1,897.51 crore EPC agreement with West Central Railway on 2 April 2026 for the Sidhi-Singrauli new rail link. The project covers Bahari-Gondawali (Kilometer 124/400–165/380) with bridges, viaducts, tunnels and earthwork, to be completed in 900 days.
Emcure Pharmaceuticals had cut prices of Poviztra® (semaglutide injection) by up to 55%, making the starting dose available at ₹999 per week / ₹3,999 per month from 3 April 2026. The once weekly pen device, offered in five strengths (0.25–2.4 mg), now sees an average 47% reduction across doses. As the exclusive distributor of Poviztra® in India, Emcure aims to expand access to this obesity treatment, backed by strong clinical evidence.
Refex Industries secured a ₹70.2 crore order from a Navratna public sector undertaking (PSU) in the steel sector for supply of bulk industrial commodities. The contract, to be executed in two months, is a domestic engagement with no related party involvement.
Power Mech Projects Limited secured a ₹296 crore, five year contract from Maha Mumbai Metro Operation Corporation Limited for Operations & Maintenance of the Mumbai Monorail. The scope includes managing the 19.54km (kilometre) corridor (17 stations) and implementing upgraded Communication-Based Train Control (CBTC) signalling systems.
Mergers/Acquisitions / Fund Raise / Stake Sale
Jindal Stainless completed its ₹132 crore committed investment in Oyster Green Hybrid One Pvt Ltd, acquiring an additional 4.60% stake for ₹23.41 crore. Oyster Green is developing a 282MWinterstate wind solar hybrid project, expected to generate over 700mn units annually for captive use. The move strengthens Jindal’s renewable energy integration strategy, supporting its net-zero carbon target by 2050.
Amber Enterprises acquired the remaining 50% stake in Amber Resojet Pvt Ltd for ₹1.74 crore, making it a wholly-owned subsidiary. The deal, approved by the Strategic Alliance Committee and executed via an SPA with LCGC Resolute Appliances LLP on 3 April 2026, is expected to close within 30–45 days. Amber Resojet, established in April 2022, focuses on automatic washing machines and reported a ₹36.91 crore turnover in FY24-25, strengthening Amber’s consumer durables portfolio.
Torrent Power received CCI approval (7 April 2026) to acquire 100% of Nabha Power Limited from L&T Power Development. The deal strengthens Torrent’s generation portfolio, marking a strategic expansion in the power sector. The official CCI order is awaited, but the nod confirms regulatory clearance for the transaction.
Max Healthcare announced ₹300 crore acquisition of a 58.4% stake in Kalinga Hospital (Bhubaneswar), marking its entry into eastern India. Kalinga Hospital is a 250-bed National Accreditation Board for Hospitals & Healthcare Providers (NABH) -accredited facility with advanced equipment (CT, MRI, cath lab) and specialties across neurology, cardiology, orthopaedics, gastroenterology, renal sciences and oncology. The acquisition is backed by a ₹300 crore senior secured term loan (ECB) and additional ₹100 crore financing for expansion and equipment. Max Healthcare has also issued a corporate guarantee to refinance the promoter’s US$5mn ECB.
Cyient Semiconductors has completed an US$85mn majority stake investment in Kinetic Technologies, a global power semiconductor provider. The deal brings 250+ ASSPs (Application-Specific Standard Products), 100+ IPs (Intellectual Properties), and immediate product scale, strengthening Cyient’s spec to silicon platform for power and compute infrastructure. This integration enhances Cyient’s global credibility, customer base access, and design depth, targeting the US$44bn (billion) power semiconductor market opportunity.
Bosch Limited will acquire Bosch Chassis Systems India from Robert Bosch Investment Nederland BV and Robert Bosch LLC for up to ₹9,068.68 crore, making Bosch Chassis Systems India a wholly-owned subsidiary. Bosch Chassis Systems India, a tier-1 automotive safety systems supplier, strengthens Bosch’s mobility strategy, amid trends like electrification and autonomous vehicles. The board also approved issuing 1,230 equity shares at ₹35,200 each.
Mahindra & Mahindra approved the acquisition of a 26% stake in Neon Hybren Pvt Ltd for up to ₹11.17 crore by 31 December 2026. The move is compliance-driven under Electricity Rules 2005, enabling M&M to offtake power from Neon Hybren’s upcoming 30MW solar project in Punjab on a captive basis. Post-transaction, Mahindra Susten’s holding will dilute to 74%, while M&M will directly hold 26%, keeping Neon Hybren a step down subsidiary within the group.
Top gainers and losers of the major indices for the week are given in the table below:
