FOMO To FMA - Street Braces for Volatility: Earnings Kick Off Amid Global Uncertainty

Key Results Today: Tata Consultancy Services, Anand Rathi Wealth, GM Breweries, and Rajputana Stainless will release their quarterly earnings today

• ACME Solar Holdings: The company commissioned an additional 4 MW under its 100 MW wind power project in Gujarat, indicating continued renewable capacity ramp-up.  
• Info Edge (India): Reported Q4FY26 standalone billings of ₹10.57 billion, reflecting healthy business momentum.  
• Lupin: Received US FDA approval for Dapagliflozin and Metformin Hydrochloride extended-release tablets in the United States, strengthening its regulated market portfolio.  
• Dish TV India: JC Flowers withdrew its company petition against Dish TV India, removing a legal overhang for the company.  
• XTGlobal Infotech: Secured a contract valued at approximately $1.59 million, supporting near‑term revenue visibility.  
• RITES: Received an amendment to the LOA from NALCO for a railway siding project, with contract value enhanced from ₹797.3 million to ₹1.2 billion, reflecting order book accretion.  
• Cyient Semiconductors: Announced the successful closure of a majority investment in Kinetic Technologies, marking a strategic expansion in the semiconductor space.  
• Network People Services Technologies (NPST): Won an AI‑powered merchant underwriting and risk management order from a public sector bank, reinforcing its positioning in digital banking solutions.  
• KEC International: Won new orders worth ₹25.18 billion, providing a strong boost to its order pipeline.  
• Suraj Ltd: Announced a capacity expansion project to enhance manufacturing capability up to 170 mm OD pipes, supporting future growth.  
• NTPC: The CEA uprated Dadri Thermal Power Station Units 5 and 6 to 500 MW each effective April 7, 2026, and NTPC also signed a non‑binding MoU with EDF for cooperation in nuclear power projects in India, both of which support long‑term capacity and diversification.  
• NHPC: Received investment approval of ₹260.7 billion for the Kamala Hydro Electric Project (1,720 MW), a major positive for its future generation portfolio.  
• BSE: Obtained SEBI approval for incorporation and acquisition of stake in the Social Stock Exchange Capacity Building Foundation, expanding ecosystem participation.  
• Meta Infotech: Received an order worth ₹25.9 million for a cloud security subscription for FY2026‑27, improving revenue visibility.  
• Dachepalli Publishers: Reported Q4 FY26 revenue of ₹358.4 million, up year‑on‑year.  
• MKVentures Capital: Its unit entered a supplementary agreement with Anant Raj for development of a residential project in Gurugram, indicating progress in real estate execution.  
• Redtape: Acquired the Sprandi brand rights for India, Nepal, Bhutan, and Sri Lanka, expanding its regional brand portfolio.  
• Confidence Petroleum India: Acquired BW Confidence Enterprise from BW LPG Infrastructure DMCC, strengthening its business footprint.  
• F Mec International Financial Services: Approved a fundraise via NCDs, a 1:10 bonus issue, and a share split from ₹10 face value into five shares of ₹2 each, all of which could improve liquidity and capital market visibility.  
• GOCL Corporation: Announced that new EMS facilities at Gummadidala have become fully operational, supporting capacity and operational readiness.  
• Innovision Ltd: Secured a work order worth ₹993.5 million, boosting order inflows.  
• Krishana Phoschem: Reported March‑quarter revenue from operations of ₹7.55 billion and profit from continuing operations of ₹830.8 million, indicating solid quarterly performance.

Negative:

• Lemon Tree Hotels: The hotel operating agreement between PRM Tirupati and Carnation Hotels was terminated, creating a potential setback in management contract operations.  
• BPCL: The CPCB directed BPCL to pay ₹10 million as environmental compensation, representing a regulatory and financial negative.  
• Aeroflex Industries: Received a tax demand order of ₹71.9 million, posing a financial and compliance concern.  
• Stanley Lifestyles: Jangamkote Keshavamurthy Sharath resigned as CFO, creating a key management vacancy.  
• Krishna Defence & Allied Industries: Piyush Harjibhai Patel resigned as CFO effective April 7, 2026, resulting in senior management churn.  
• Amic Forging: Priyankar Ghosh resigned as CFO and KMP due to personal reasons, leading to a leadership gap in finance.

Neutral / Others

• Pune E‑Stock Broking: Approved issuance of 1.6 million convertible warrants at ₹234 each on a preferential basis, supporting capital raising plans.  
• Refex Industries: Its shareholding in Venwind Refex Power increased marginally to 77.77% from 77.39%, a limited‑impact ownership change.  
• Globale Tessile: Appointed Jitendra Kumar Bhati as CFO.  
• Delhivery: Nexus Venture III sold 10.4 million shares in Delhivery via a block deal on NSE, representing an investor exit transaction.  
• PAE Ltd: The board will consider a proposal for bonus shares to public shareholders.  
• Le Merite Exports: Approved a sub‑division of shares, with the ratio announced but limited operating impact in the near term.  
• Bosch: Will acquire 100% of Bosch Chassis Systems India for up to ₹90.69 billion, a major group restructuring and consolidation move.  
• Muthoot Microfin: Announced issuance of NCDs worth ₹716.1 million, a routine fundraising update.

Non‑Corporate, Unlisted & Foreign / Macro

1. Jet Airways (India): Sold two Boeing 777 aircraft via e‑auction, with the highest combined bid at ₹5.68 billion, aiding asset monetisation.  
2. RBI / Banking Governance Drafts: The RBI issued draft directions and invited public comments on amendments relating to Trade Receivables Discounting System, RBI Governance Amendment Directions 2026, quarterly profits inclusion in CET1 capital, Investment Fluctuation Reserve, and consolidated supervisory instructions; the drafts also propose enhanced board oversight on governance, risk management, related‑entity exposure, subsidiary investments, and matters reserved for board approval or reporting.  
3. World Bank / India & South Asia Outlook: The World Bank said South Asia growth is expected to slow to 6.3% in 2026 from 7.0% in 2025 due to global energy market disruptions, while India’s growth is projected at 6.6% in FY2026/27 versus an earlier estimate of 6.3%; the report also flagged risks from Middle East conflict, financial turbulence, climate shocks, and AI‑related risks to services exports.  
4. SEBI / Pledged Shares: SEBI issued a circular on the mechanism for lock‑in of pledged shares under its regulations.  
5. India 10‑Year Bond Yield / RBI T‑Bills: India’s benchmark 10‑year government bond yield ended at 6.8984% versus previous close of 7.0458%; separately, RBI reported partial allotments in 91‑day, 182‑day and 364‑day T‑bill auctions, indicating treasury market activity.  
6. India Government / Aviation Relief: The government announced relief measures for domestic airlines, including a cut in landing and parking charges at major airports, expected to reduce airline costs by around ₹4 billion over three months amid global disruptions.  
7. India Foreign Ministry / Bangladesh: India’s foreign minister held a meeting with the foreign minister of Bangladesh, a diplomatic update without direct listed‑company impact.  
8. India Government / HPCL Rajasthan Refinery: The government said HPCL’s Rajasthan refinery is expected to create 10,000 direct jobs during operations, while the Cabinet also approved ₹794.59 billion for the refinery project.  
9. India Government / Hydro Projects: The Cabinet approved two hydroelectric projects worth ₹260.70 billion and ₹141.06 billion, providing a positive capex signal for the power sector.  
10. India Government / Fertiliser Subsidy: Approved ₹415.34 billion nutrient‑based subsidy for summer season crops.  
11. India Government / Energy & Shipping: Officials said India expects the US to extend the waiver on Russian oil purchases, is in touch with Iran and other countries for safe transit of ships, is trying to bring back vessels from the Persian Gulf quickly, and clarified there were no discussions with Iran on tolls for Hormuz transit.  
12. India Government / Coal & Steel: Officials said India is pushing for coal gasification to cut imports, urging the steel industry to use more domestic coal, and indicated India could look at exporting coal after meeting local demand.  
13. India Government / Power & Coal Logistics: Officials said the power sector requires 480 railway rakes to meet demand and has sought 906 million tonnes of coal in FY27, highlighting logistics and fuel planning needs.  
14. India Government / Steel Sector Outlook: Government statements indicated that the Indian steel industry is expected to maintain growth momentum with robust demand, though the sector must navigate energy security, input costs, and global market volatility.