Markets witnessed a sharp bout of volatility in the final hour of trade on Friday, with benchmark indices erasing most of their intraday gains amid heavy institutional selling. Technically, the sharp fall in the Nifty has weakened the near-term structure, with the index once again inching toward its recent swing low near the 23,250 level. Furthermore, analysts say lingering geopolitical tensions continue to cap the upside on every recovery attempt.
In today's trade, shares of IndiGo, Suzlon Energy, Patanjali Foods, PB Fintech, Vedanta among others will be in focus due to various news developments.
Capital markets regulator Sebi has imposed a penalty of nearly Rs 29 crore on Suzlon Energy after finding that the company misrepresented its financial position through a series of transactions involving subsidiaries, inflated profits and inadequate disclosures. Suzlon plans to challenge the order.
Patanjali Foods reported a 46% year-on-year rise in net profit for the March quarter, aided by strong growth across its edible oils and FMCG businesses, although higher raw material and packaging costs weighed on profitability. The company's profit after tax rose to Rs 524 crore in the quarter ended March 2026 from about Rs 359 crore a year earlier.
PB Fintech witnessed a block deal worth about Rs 665 crore on Friday, with co-founders Yashish Dahiya and Alok Bansal selling shares to a clutch of domestic and foreign institutional investors. According to exchange data, a total of 38 lakh shares changed hands at Rs 1,751 apiece, translating into a transaction value of about Rs 665 crore.
Vedanta Group on Friday said that it has received its highest domestic credit rating in over a decade after rating agency ICRA upgraded the long-term ratings of its key group entities to AA+. Securities with an AA+ rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such securties carry very low credit risk.
SAIL
SAIL expects the West Asia crisis to have a marginal impact on its steel prices and is establishing alternative shipping routes to ensure uninterrupted supply of raw material from the region, said SAIL chairman Ashok Panda.
Budget carrier IndiGo on Friday reported a net loss of Rs 2,536 crore in the fourth quarter, compared with the net profit of Rs 3,067 crore in the previous year quarter. Revenue from operations rose by a marginal 1% to Rs 22,438 crore.
Cyient enters agreement to acquire TAO Digital, an AI-native data and product engineering solutions firm headquartered in Santa Clara, California, at an EV of $218 million. The enterprise value is about 9.5x CY27 EBITDA, excluding management incentives, and retention schemes.
