PCBL Chemical

< -5%

-5% to -3%

Goa Carbon

Rain Industries

-3% to 0%

0% to 3%

3% to 5%

Washington State Investment Board buys Rs 59 crore worth Mahanagar Gas shares, Motilal Oswal MF picks up 0.5% stake in Apollo Micro Systems, BNP Paribas Financial Markets, and Societe Generale exchanged shares of Bajaj Finance, Bharti Airtel, Hindalco Industries, InterGlobe Aviation, M&M

* Washington State Investment Board buys Rs 59 crore worth Mahanagar Gas shares
* Motilal Oswal MF picks up 0.5% stake in Apollo Micro Systems
* BNP Paribas Financial Markets, and Societe Generale exchanged shares of Bajaj Finance, Bharti Airtel, Hindalco Industries, InterGlobe Aviation, M&M

shorts/business/washington-state-investment-board-buys-rs-59-crore-worth-mahanagar-gas-shares-motilal-oswal-mf-picks-up-0-5-stake-in-apollo-micro-systems

Washington State Investment Board, which established by Washington State Legislature for managing investments for several retirement plans, has acquired over 0.6 percent equity stake in Mahanagar Gas via open market transactions on March 27.

Mahanagar Gas shares closed 0.17 percent higher at Rs 940.3 amid high volumes on the BSE, extending uptrend for third consecutive session especially after hitting the lowest level since March 2023.

Washington State Investment Board has bought 6.17 lakh shares (equivalent to 0.62 percent of paid-up equity) in Mahanagar Gas, the natural gas distribution company, for Rs 58.7 crore. The buying price was Rs 950.42 per share.

Meanwhile, the brisk action was also seen in Apollo Micro Systems, and Cyient DLM, which fell 4.14 percent to Rs 189.49 and corrected 5.33 percent to Rs 278.90, respectively on the National Stock Exchange.

Motilal Oswal Mutual Fund has acquired 18.02 lakh shares (0.5 percent stake) in Apollo Micro Systems, which manufactures electronic and electro-mechanical solutions for the defense, aerospace, and homeland security sectors, at Rs 189.58 per share, valued at Rs 34.17 crore.

However, the fund house sold 5.42 lakh shares (0.68 percent stake) in design-led manufacturing solutions provider Cyient DLM at Rs 278.3 per share, amounting to Rs 15.1 crore.

Real estate developer Arvind SmartSpaces also saw exchange of shares, falling 0.89 percent to Rs 516.65. HDFC Capital Affordable Real Estate Fund-1 sold 4.58 lakh shares (1 percent stake) in the company at Rs 509.99 per share, valued at Rs 23.39 crore, however, ASL ESOP Trust bought same number of shares at a price of Rs 510 per share, amounting to Rs 23.39 crore.

Also, there was action in Cube Highways Trust units which rose 0.69 percent to Rs 146 on the National Stock Exchange. Financial services firm Spark Financial Holdings has bought 18 lakh units in the infrastructure investment trust from Cube Mobility Investments Pte at Rs 146 per unit, valued at Rs 26.28 crore.

Meanwhile, BNP Paribas Financial Markets, and Societe Generale have also exchanged shares of Bajaj Finance, Bharti Airtel, Hindalco Industries, InterGlobe Aviation, and Mahindra &amp;amp; Mahindra on Friday. Former was the buyer and later turned seller in these companies shares.

BNP Paribas Financial Markets has acquired 12.18 lakh shares in Bajaj Finance from Societe Generale at Rs 882.75 per share for Rs 107.5 crore, while Societe Generale sold 33.38 lakh shares in Bharti Airtel to BNP Paribas Financial Markets at Rs 1,834.9 per share, amounting to Rs 612.58 crore.

Further, BNP Paribas Financial Markets and Societe Generale exchanged 58.12 lakh Hindalco Industries shares worth Rs 504.92 crore at Rs 868.65 per share, and 7.63 lakh InterGlobe Aviation shares worth Rs 327.87 crore at a price of Rs 4,294.7 per share.

In Mahindra and Mahindra, BNP Paribas Financial Markets bought 3.76 lakh shares worth Rs 117.76 crore from Societe Generale at Rs 3,128.1 per share.

Washington State Investment Board buys Rs 59 crore worth Mahanagar Gas shares; Motilal Oswal MF picks up 0.5% stake in Apollo Micro Systems

IT stocks trade at steep discounts, offering valuation comfort, ICICI Direct recommends staggered investments in select IT stocks, AI-led services could create $300–400 billion market by 2030

* IT stocks trade at steep discounts, offering valuation comfort
* ICICI Direct recommends staggered investments in select IT stocks
* AI-led services could create $300–400 billion market by 2030

ICICI Direct sees IT stocks trading at steep discounts, offering valuation comfort and limited downside. Despite AI-driven revenue deflation, AI-led services could expand market opportunities. Staggered investments may yield strong returns over 18–24 months.

shorts/business/it-stocks-trade-at-discount-after-correction-icici-direct-sees-long-term-upside

Following the recent correction, IT stocks are now trading at a steep discount to their long-term average, offering valuation comfort at current levels with limited downside risk, according to ICICI Direct. The brokerage said staggered investments over the next few months in select IT stocks could deliver strong returns over the next 18–24 months.

ICICI Direct’s top picks in the sector include Persistent Systems, which is seeing early monetisation traction in AI-led programs; LTIMindtree, which has already absorbed productivity-led pricing pressure and demand softness from a key client, potentially derisking future growth; and TCS, which is accelerating investments and capital expenditure in AI to defend its market leadership.

The Nifty IT index has declined about 25 percent year-to-date, driven by concerns over the potential impact of generative AI on the long-term business model of IT services companies, along with broader macroeconomic and geopolitical uncertainties. Both large-cap and midcap IT stocks have seen sharp corrections despite relatively stable operating performance and continued deal wins, as investors reassess near-term growth visibility and the structural implications of AI.

ICICI Direct said historical technology transitions, including ERP adoption, cloud migration and digital transformation cycles, suggest that while new technologies may initially compress revenue growth, they tend to expand the total addressable market for IT services over time.

Generative AI is expected to improve productivity in software development and maintenance, potentially reducing workforce requirements for certain tasks. Industry commentary indicates AI could lead to about 2–3 percent annual deflation in traditional services revenues over the next few years as automation improves delivery efficiency and compresses effort-based pricing models.

At the same time, industry estimates suggest AI-led services could create an incremental market opportunity of $300–400 billion by 2030, significantly higher than the current $280 billion size of the Indian IT services industry. It is also expected to generate 170 million jobs while displacing about 92 million traditional roles.

ICICI Direct said the sector may face near-term growth moderation but stronger structural opportunities over the medium term, with generative AI likely to reshape service delivery while expanding the overall opportunity through accelerated automation and digital transformation.

On the earnings front, Accenture reported steady second-quarter performance with strong deal momentum and record bookings of $22.1 billion, indicating continued demand resilience. For Indian IT companies, the brokerage said the outlook remains neutral in the near term, with recovery expected to be gradual and back-ended, driven by execution and the scaling of AI use cases from pilot projects to enterprise-wide deployments.

Reflecting the evolving demand environment, ICICI Direct has revised its estimates, factoring in 2–3 percent AI-led revenue deflation in FY27 and FY28, along with adjustments to EBIT margins and earnings growth. The brokerage has also lowered valuation multiples for select IT stocks to account for potential revenue pressures and uncertainty in demand for traditional IT services.

IT stocks trading at discount after correction, says ICICI Direct; brokerage sees long-term upside

HDFC Bank shares drop 3% after chairman resigns., SEBI is reviewing possible rule violations by former chairman., Bank hired external law firms to assess concerns raised in letter.

* HDFC Bank shares drop 3% after chairman resigns.
* SEBI is reviewing possible rule violations by former chairman.
* Bank hired external law firms to assess concerns raised in letter.

HDFC Bank shares fell 3% after SEBI began reviewing ex-chairman Atanu Chakraborty's resignation letter for possible rule violations. Chakraborty cited ethical concerns but gave no details. The bank is conducting an independent assessment of his claims.

shorts/business/hdfc-bank-shares-fall-nearly-3-as-sebi-likely-reviewing-ex-chairman-s-exit-letter-jefferies-exits-lender

HDFC Bank shares declined 3 percent on Friday amid reports that markets regulator SEBI is reviewing the resignation letter of former part-time chairman Atanu Chakraborty.

The stock fell after consecutive sessions of gains. It touched an intraday low of Rs 759.25 per share on the NSE, down 2.95 percent.

The decline follows reports that the Securities and Exchange Board of India (SEBI) has initiated a preliminary review of Chakraborty’s resignation letter for possible violations of rules governing directors of listed companies, according to sources.

Chakraborty told Reuters he was not aware of any such examination by the regulator.

In his resignation letter, Chakraborty referred to &quot;certain happenings and practices within the bank&quot; which he said were &quot;not in congruence&quot; with his personal values and ethics. He did not elaborate.

Meanwhile, global brokerage Jefferies also exited its holdings in shares of private lender HDFC Bank, while trimming its India weightage, shortly after part-time chairman and independent director Atanu Chakraborty resigned from the board.
Jefferies exits HDFC Bank following ex-chairman Atanu Chakraborty's resignation 
The stock had fallen 8.7 percent in the following session after the letter surfaced, eroding about Rs 1.35 lakh crore in market capitalisation over three sessions.

Reuters sources said a SEBI department overseeing corporate disclosures and governance is examining the role of the former chairman and other directors for alleged lapses in fiduciary duties.

&quot;The examination is to verify claims made in the resignation letter and whether other directors were aware of any material information and did not document them,&quot; Reuters reported citing sources.

HDFC Bank earlier said it has appointed external law firms to independently assess the concerns raised in the resignation letter. Chakraborty, however, told Reuters that the firms had not contacted him.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

HDFC Bank shares fall nearly 3% as SEBI likely reviewing ex-chairman's exit letter, Jefferies exits lender

Crude-sensitive stocks slid as Brent crude held above $100., InterGlobe Aviation, SpiceJet, Asian Paints, tyre stocks declined., Market volatility rose, India VIX jumped 8 percent.

* Crude-sensitive stocks slid as Brent crude held above $100.
* InterGlobe Aviation, SpiceJet, Asian Paints, tyre stocks declined.
* Market volatility rose, India VIX jumped 8 percent.

Crude-sensitive shares like InterGlobe Aviation, Asian Paints, and tyre stocks fell up to 4.5% as Brent crude stayed above $100/barrel, raising inflation concerns. Market volatility increased amid US-Iran tensions, with Sensex and Nifty dropping sharply.

shorts/business/indigo-asian-paints-eternal-other-crude-sensitive-stocks-fall-up-to-3-as-brent-crude-stays-above-100

Crude-sensitive shares such as InterGlobe Aviation, Asian Paints and Eternal declined up to 3 percent in trade on Friday as Brent crude remained above the USD 100 per barrel mark, raising concerns over higher input costs and inflationary pressures.

Shares of InterGlobe Aviation fell 3.5 percent to Rs 4,144.5 per share on the National Stock Exchange, while SpiceJet declined 4.5 percent.

Tyre stocks also witnessed losses, with JK Tyre &amp;amp; Industries slipping 2 percent and Apollo Tyres falling nearly 2 percent amid concerns over rising raw material and fuel costs.

Paint companies came under pressure, with Asian Paints declining over 1 percent. Berger Paints India and Akzo Nobel India fell between 1 percent and 2 percent.

Eternal shares were also down more than 2 percent on fears of impact on its delivery business.

Brent crude, the global oil benchmark, was trading at USD 106.8 per barrel.

&quot;Crude oil prices have once again moved above the USD 100 per barrel mark, reinforcing inflationary concerns globally. For India, this is particularly significant given its heavy reliance on crude imports,&quot; Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.

He added that Brent crude prices remain elevated and volatile, hovering in the USD 100–107 range, raising concerns around inflation, input costs and broader macroeconomic pressures.

Meanwhile, the Sensex was down 1,224.07 points or 1.63 percent at 74,049.38, and the Nifty was down 360.80 points or 1.55 percent at 22,945.65, as hopes of a resolution to the Iran conflict weakened. The Nifty slipped below the 22,950 level.

&quot;The US-Iran conflict continues to be a key overhang. While there are intermittent signs of de-escalation, the risk of renewed escalation persists, keeping markets highly sensitive to geopolitical developments,&quot; Ponmudi R, CEO of Enrich Money, said.

Market volatility rose sharply, with India VIX jumping 8 percent, indicating heightened investor nervousness. Analysts said that if crude prices remain elevated for an extended period, sectors dependent on fuel and petrochemical inputs may remain under pressure, while broader markets could stay volatile.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

IndiGo, Asian Paints, Eternal, other crude-sensitive stocks fall up to 3% as Brent crude stays above $100

Bank shares fell, snapping a two-day winning streak., HDFC Bank dropped over 2 percent., State banks fell as bond yields and crude prices climbed.

* Bank shares fell, snapping a two-day winning streak.
* HDFC Bank dropped over 2 percent.
* State banks fell as bond yields and crude prices climbed.

Bank shares fell, snapping a two-day rally as Bank Nifty dropped 2% amid profit booking and rising bond yields. All index constituents declined, led by Canara Bank. HDFC Bank slid after its chairman resigned over board differences, impacting its stock.

shorts/business/bank-shares-snap-2-day-rise-amid-profit-booking-bond-yield-surge-sectoral-index-down-2

Bank shares on Friday snapped a two-day gaining streak, with the sectoral index falling around 2 percent amid profit booking and a rise in bond yields.

The Bank Nifty, which had gained 4.37 percent in the previous two sessions, declined up to 2 percent during the day on selling pressure.

All 14 constituents of the index were trading in the red. Canara Bank was the top laggard, falling up to 4 percent. Bank of Baroda and Punjab National Bank declined 3.78 percent and 3.29 percent, respectively.

HDFC Bank also reversed its two-day gains and fell more than 2 percent.

The decline in HDFC Bank came amid reports that the resignation of its former chairman Atanu Chakraborty last week followed differences with chief executive Sashidhar Jagdishan, according to a Financial Times report citing sources. Chakraborty had opposed extending Jagdishan’s tenure, while a majority of the board supported it, the report said.

The stock had fallen about 12 percent after Chakraborty stepped down as part-time chairman. In his resignation letter, he had cited &quot;certain happenings and practices within the bank&quot; that were &quot;not in congruence&quot; with his personal values and ethics.

State-owned lenders led the decline on concerns that rising crude prices could push up borrowing costs and bond yields, thereby impacting treasury income. Higher bond yields typically reduce the value of banks’ bond holdings, leading to lower gains from their treasury portfolios.

The Nifty PSU Bank index fell up to 3 percent, with all 12 constituents trading lower. Bank of Baroda was among the top losers, down more than 3 percent.

The Nifty Private Bank index declined about 1.5 percent, with all 10 constituents in the red. IndusInd Bank and HDFC Bank were among the key laggards, each falling more than 2 percent.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Washington State Investment Board buys Rs 59 crore worth Mahanagar Gas shares; Motilal Oswal MF picks up 0.5% stake in Apollo Micro Systems

IT stocks trading at discount after correction, says ICICI Direct; brokerage sees long-term upside

HDFC Bank shares fall nearly 3% as SEBI likely reviewing ex-chairman's exit letter, Jefferies exits lender

IndiGo, Asian Paints, Eternal, other crude-sensitive stocks fall up to 3% as Brent crude stays above $100

Bank shares snap 2-day rise amid profit booking, bond yield surge; sectoral index down 2%

Carbon Black Industry StocksCheck latest stock performance, list of stocks, earnings review & more details about the Carbon Black industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q3 FY25-26

Stock News

Washington State Investment Board buys Rs 59 crore worth Mahanagar Gas shares; Motilal Oswal MF picks up 0.5% stake in Apollo Micro Systems

IT stocks trading at discount after correction, says ICICI Direct; brokerage sees long-term upside

HDFC Bank shares fall nearly 3% as SEBI likely reviewing ex-chairman's exit letter, Jefferies exits lender

IndiGo, Asian Paints, Eternal, other crude-sensitive stocks fall up to 3% as Brent crude stays above $100

Bank shares snap 2-day rise amid profit booking, bond yield surge; sectoral index down 2%

Carbon Black Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Carbon Black industry stocks.