Foreign institutional investors have been consistently selling shares in 146 Indian companies for four consecutive quarters. This selling spree spans various sectors and market caps, with some stocks experiencing significant value erosion while others have delivered gains despite FII exits. The trend raises questions for retail investors about potential warnings or contrarian opportunities.
Indian Energy Exchange (IEX) reported robust Q4 FY26 results with an 11% profit rise to Rs 130 crore, fueled by record electricity volumes. The company also declared a Rs 2 per share final dividend. Despite recent stock dips, IEX achieved double-digit growth for the full fiscal year, though market coupling concerns linger.
Asian equities opened lower as US-Iran talks showed little progress in de-escalating the Middle East conflict, keeping the Strait of Hormuz effectively closed. Oil prices rose as geopolitical risks intensified, with Brent crude climbing to $106.20 a barrel. Investors remain cautious, awaiting signals on energy supply risks.
Indian IT firms are seeing steady new deals and operating margins. However, revenue growth is slowing down quarter-on-quarter because projects are delayed. Artificial intelligence also poses a risk to future earnings. Companies like Infosys and HCLTech have given cautious growth forecasts for the upcoming financial year. IT stocks may face pressure in the short term.
Markets experienced a corrective session on Thursday, extending previous weakness amid adverse global cues. Key companies like RIL, Infosys, and Adani Energy are in focus due to Q4 results and news developments. Tata Capital reported a 43% net profit growth, while Cyient approved a Rs 720 crore share buyback alongside a weak March quarter performance.
The yuan is poised to surpass the yen as the second-most traded currency against the dollar in foreign-exchange options, according to LCH. This shift, expected by 2028, reflects growing yuan internationalization and market demand for currency diversification beyond the dollar.
Shapoorji Pallonji Group is nearing the closure of a ₹25,400 crore debt raise by May 15, featuring annual coupons around 18.75%. This fundraising, part of Project Ascent, will utilize USD bonds and bespoke loans to refinance existing debt, including bonds secured against its Tata Sons stake.
U.S. stocks declined amid escalating Iran war concerns and mixed earnings. Hopes for a swift resolution dimmed as Iran tightened control over the Strait of Hormuz and reported air defense activations. Investors also reacted to AI disruption fears in the software sector, with IBM and ServiceNow shares falling, while Texas Instruments surged on positive forecasts.
US markets experienced a sharp decline on Thursday. US President Donald Trump issued a directive for the Navy to engage any boats laying mines in the Strait of Hormuz. This action heightened existing tensions in the region. US forces also intercepted Iran-linked vessels in the Indian Ocean. Investors are closely watching for resolution to these conflicts.
Freeport-McMoRan announced a slower-than-expected recovery at its Grasberg mine in Indonesia following a fatal flood. The company now anticipates only 65% production restoration by the second half of the year, down from 85%, impacting its ability to meet surging global copper demand. This delay, attributed to equipment modifications for wetter ore, also pushed back a power source conversion plan.
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