Following Donald Trump's additional 25% tariff penalty on Indian goods, along with an 25% tariff for India's oil and arms purchases from Russia, Indian benchmark equity indices was down sharply till 2 pm but then staged a significant rally and ended positive. On Thursday, 1844 stocks advanced, 2193 declined and 155 remained unchanged on Bombay Stock Exchange with advance decline ratio of 0.84 indicating a negative closing. Moneylife’s Market Breadth Indicators remained neutral. The trend of the major indices on Thursday’s trading is given in the table below.
On NSE, 36 securities advanced and closed at a new 52-week high whereas 101 securities sank to close at their new 52-week lows. Nifty Infrastructure and Nifty Energy were among the biggest losers. Nifty Media, Nifty IT and Nifty Pharma were the biggest gainers.
Vi Business, the enterprise arm of Vodafone Idea (-1.03%), plans to deploy 12 million smart meters across India over the next three years. The initiative aligns with the India Smart Grid Mission and aims to reduce AT&C losses for DISCOMs while empowering consumers with real-time energy insights via its IoT Smart Central platform.
Bank Albilad partnered with Intellect Design Arena (+0.20%) to accelerate its wholesale banking digital transformation, aligning with Saudi Arabia’s Vision 2030 goals. The collaboration leverages Intellect’s enterprise-grade fintech to enhance operational agility and support the Kingdom’s evolving financial ecosystem.
Fineotex Chemical (+0.13%) commenced operations at its new Rs60 crore manufacturing facility adding 15,000 MT annual capacity in Phase 1. Strategically located near JNPT and Bhiwandi, the plant boosts logistics efficiency and expands the company’s global footprint.
LTIMindtree (+0.04%) secured a Rs792 crore contract from CBDT to develop PAN 2.0, a unified AI-powered platform integrating PAN and TAN services under India’s G2C digital agenda. The 18-month rollout will include infrastructure, Aadhaar-linked integration, and end-to-end automation to enhance transparency and service delivery.
Sigachi Industries (-5.41%) begun civil works for a Rs60 crore expansion at its Dahej SEZ unit, adding 12,000 MTPA MCC capacity to be operational in 9 months. Total MCC capacity will rise to 30,000 MTPA, reinforcing Sigachi’s position as India’s largest MCC manufacturer amid recovery from the Pashamylaram unit incident.
Tanla Platforms (-1.46%) partnered with Indosat Ooredoo Hutchison to deploy its AI-native Wisely.ai platform, securing over 100 million users in Indonesia from spam and scam threats. The multi-year SaaS deal marks a key global expansion milestone, leveraging Nvidia-powered AI for real-time fraud detection across SMS, voice, and VoIP channels.
Adani Power (+2.03%) received a LoI from BSPGCL to supply 2,274 MW to Bihar DISCOMs from a new 2,400 MW ultra-supercritical thermal plant in Pirpainti, Bhagalpur. The Rs6.075/unit bid marks around $3 billion investment under the DBFOO model, with commissioning slated over 48–60 months.
RBL Bank (+2.71%) received RBI approval to acquire over 5% indirect stake in Utkarsh Small Finance Bank via the proposed merger of Utkarsh Coreinvest, in which it holds 8.64% as of March 2025. The approval is subject to regulatory compliance and mandates that RBL’s holding in USFBL remain below 10% of paid-up capital or voting rights.
Allied Digital Services (-1.97%) claimed to have secured a Rs420 crore, five-year contract from a top European pharma major to transform digital workplaces for 120,000 employees across 66 countries.
JSW Energy (-0.22%) commissioned the second 80 MW unit of its 240 MW Kutehr hydro project in Himachal Pradesh, taking total operational capacity to 160 MW. Power dispatch to Haryana has begun under a 35-year PPA at a levelized ceiling tariff of Rs 4.50/kWh; the final unit is expected to be commissioned soon.
Solar Industries (-0.79%) reported Q1FY26 net profit of Rs339 crore, up 18.5% y-o-y, on revenue of Rs2,154 crore up 27.8% y-o-y, driven by strong domestic and export demand. EBITDA rose 18.9% y-o-y to Rs534 crore, though margin declined to 24.8% from 26.6% y-o-y due to higher operating costs.
Varroc Engineering (+4.87%) reported Q1FY26 net profit of Rs 107.4 crore, up 215% y-o-y, on revenue of Rs 2,027.5 crore up 7.1% y-o-y, driven by operational efficiencies and cost control. EBITDA rose to Rs194 crore from Rs174 crore y-o-y, with finance costs declining to Rs 36.3 crore, supporting margin resilience.
Sandhar Technologies (-3.87%) reported Q1FY26 net profit of Rs28 crore, down 3.6% y-o-y, despite a 19.5% rise in revenue to Rs1,090 crore, driven by higher material and employee costs. EBITDA declined 2.7% y-o-y to Rs82.4 crore, with margin contracting to 7.56% from 9.39% y-o-y due to cost inflation and operational pressures.
Kilburn Engineering (+0.76%) reported Q1FY26 net profit of Rs21.3 crore, up 84% y-o-y, on revenue of Rs129.2 crore up 51.2% y-o-y, driven by strong order execution and cost discipline. PBT more than doubled y-o-y to Rs29.6 crore, supported by improved operating leverage despite a 43% rise in expenses.
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below:
