Retail investors showed caution, reducing their stock holdings in most companies during the March quarter. This move coincided with market declines due to global uncertainties. Meanwhile, foreign investors and domestic funds increased their stakes in various companies. Promoters also raised their shareholding, taking advantage of lower stock prices. FPI stake in Indian companies continued to fall.
Foreign investors continued their sell-off in Indian equities, particularly in financials, extending withdrawals into the latter half of April. This sector saw significant outflows due to its heavy weight and inflation concerns. Conversely, power and capital goods attracted substantial inflows, driven by strong demand and global trends.
Britannia Industries witnessed a 22% surge in its March quarter profit, reaching ₹680 crore, driven by resilient biscuit and snack demand. Revenue climbed 7.1% to ₹4,686 crore, despite supply chain disruptions from the West Asia conflict impacting international business. The company is actively mitigating potential cost inflation and remains vigilant about ongoing developments.
The Indian rupee surged over a rupee against the US dollar in two days, gaining 36 paise on Thursday. This rebound was driven by a significant retreat in crude oil prices below $100 a barrel, prompting traders to unwind short-rupee positions. State-run banks were observed selling dollars, likely on behalf of exporters, as the rupee moved to 94.
Nifty midcap indices reached new peaks on Thursday. This surge is fueled by robust earnings, consistent retail investor contributions, and strategic bargain purchases. Midcap and smallcap indices have significantly outperformed larger indices since the US-Iran ceasefire announcement a month ago. Experts suggest a pause in the rally is likely soon. Foreign investors have been selling large-cap stocks.
The S&P 500 closed lower as chip stocks like Intel and Arm Holdings retreated, while U.S.-Iran peace talk uncertainty impacted the broader market. Despite a strong quarter driven by AI and tech rallies, concerns over chip supply and geopolitical tensions tempered investor sentiment. Oil prices edged down, though Nvidia and Microsoft saw gains.
Citigroup unveiled ambitious profitability targets for 2027-2028, aiming for 11-13% adjusted return on tangible common equity, with further growth expected by 2031. CEO Jane Fraser highlighted a company-wide overhaul and announced a $30 billion share buyback plan, signaling a focus on consistent performance and organic growth, particularly in wealth management.
Bharat Forge reported a 17% year-on-year fall in net profit to Rs 233 crore for the March-ended quarter, despite an 18% revenue growth to Rs 4,528 crore. The company recommended a final dividend of Rs 6.50 per equity share. Despite demand challenges, Bharat Forge secured significant new orders, particularly in defence.
Whirlpool shares tumbled after the appliance maker cut its 2026 earnings outlook, suspended dividends and warned that weakening consumer demand now resembles “recession-like” conditions. Rising costs, a soft housing market and cautious household spending added to concerns over the broader outlook for discretionary consumption.
Suryoday Small Finance Bank reported a strong turnaround in fourth-quarter earnings with improved profitability and higher operating profit. The lender also recorded annual profit growth while reducing its gross non-performing assets ratio, reflecting better asset quality and improved financial performance during the year.
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