Nirmala Sitharaman inaugurates new premises of IIGJ in Udupi

by Hansraj Agrawal | Apr 28, 2026 | Business

The Union Finance Minister, Nirmala Sitharaman, interacts with the trainees under the PM Vishwakarma scheme at IIGJ in Udupi on Tuesday.

Union Finance Minister Nirmala Sitharaman on Tuesday inaugurated the new premises of Indian Institute of Gems and Jewellery (IIGJ) in Udupi.

She had laid the foundation stone for IIGJ in Udupi in 2017 during her tenure as the Union Minister of Commerce and Industries with her MPLADS funds and with support from the Gem and Jewellery Export Promotion Council (GJEPC) and National Institute of Design (NID), Ahmedabad.

The institute provides upskilling for current workers and new skills for youth to make them globally competitive in design and manufacturing.

It provides training in various aspects of hand-crafted jewellery making, creating numerous employment and entrepreneurial opportunities in the gems and jewellery sector. It also focuses on enhancing the skills of the existing workforce.

Training facility

The institute is equipped with 41 jewellery manufacturing, CAD, casting, testing, and finishing machinery, including XRF gold-purity testing, CAD software, casting machines, plating units, and full production-line facilities, enabling both training and common facility centre (CFC) services.

The IIGJ-Udupi also trains people under the PM Vishwakarma scheme. The Minister interacted with the trainees under the PM Vishwakarma scheme on the occasion. More than 270 candidates have been trained at the IIGJ under the PM Vishwakarma scheme.

She also witnessed a demonstration of the ‘Design to Manufacturing’ process by students at IIGJ Udupi.

The event also witnessed the signing of a memorandum of understanding between the IIGJ and IIT Madras under the InCent LGD platform for a specialised, industry-oriented certification programme in lab-grown diamond technologies.

The programme is aimed at bridging critical skill gaps, create job-ready professionals, boost value-added manufacturing and strengthen India’s position in the global LGD (lab-grown diamond) value chain, aligned with ‘Make in India’, ‘Skill India’ and the goal of a self-reliant, globally competitive LGD ecosystem.

Published on April 28, 2026

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TN clocks 2nd year of double-digit growth at 10.83% in FY26

by Hansraj Agrawal | Apr 28, 2026 | Business

Tamil Nadu’s Industries Minister T R B Rajaa

Tamil Nadu clocked 10.83 per cent growth in 2025-26 and set a record by registering a double-digit economic growth for a second year in a row, state Industries Minister T R B Rajaa said on Tuesday.

This achievement follows the state recording 11.19 per cent growth in the previous year leaving the national average of 7.4 per cent “far far behind” he said.

“Double-digit growth two years in a row. Not noise. Not propaganda. Just plain factual numbers…While some are busy dividing people, Tamil Nadu is busy multiplying prosperity,” Rajaa said in a post on ‘X.’ This happens when governance is driven by industry-first policies and social justice stable leadership under Chief Minister M K Stalin, the minister claimed.

“No shortcuts. No slogans. Just results. This becomes even more special when one factors the trade headwinds and tariff wars. Let this be clear: the Dravidian model doesn’t just speak. It delivers,” he said.

Published on April 28, 2026

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Short sellers' bets on life insurance stocks soar as private credit concerns grow

by Hansraj Agrawal | Apr 28, 2026 | Business

Short sellers’ bets against US life insurance stocks more than doubled in the past year to over $5 billion, a Reuters analysis of ORTEX data shows. Analysts say the move in part reflects concerns about exposure to the opaque private credit sector.

Jitters about private credit — lending to companies by non-banks, such as private equity funds and asset managers — have shaped markets in recent months, after portfolio managers were found to hold debt from bankrupt auto firms and a UK mortgage provider accused of fraud.

“Concerns are not about a single blow-up, but about potential structural vulnerabilities with the (private credit) asset class having much less regulation and oversight than the traditional banking system,” said Mediolanum International Funds head of fixed income Daniel Loughney.

“Institutional exposure to the asset class has grown significantly over the past decade. Overall we see a problem brewing that will affect the life assurance markets, annuity markets and the asset management industry,” said Loughney.

Private credit holdings among US life and annuity insurers more than doubled over the last 10 years, during a period of historically low official interest rates, according to ratings company and insurance industry specialist AM Best.

US life insurers have roughly a 35 per cent exposure of their balance sheet tied up in private lending, the International Monetary Fund has reported, citing Moody’s data.

This type of alternative credit offers higher yields and long-term steady returns, fitting the mandate of insurance companies which need to match investment horizons with the prospect of payouts over years or decades.

Hedge funds have sensed an opportunity.

Traders added almost $3 billion to the value of short bets, or bets that a stock price will decline, on 10 top US life insurance companies in the past year, bringing the total to around $5.3 billion, Reuters’ calculations based on data provided by financial analytics firm ORTEX show.

These firms saw a more than 130% increase in the proportion of their stock that traders borrowed in order to take out short positions on these companies, the data showed. Concerns about private credit are also being reflected by investors pulling money from retail funds that package up private loans to middle-market companies and trade them on public exchanges. Questions over the value of the underlying loans, many of which have been made to AI infrastructure companies, have arisen from whipsawing tech markets.

Pricing a “fairly severe” outcome

The S&P 500 US insurance index, which includes life insurers, has fallen almost 5 per cent so far this year versus a 4.7 per cent rise for the broader S&P index.

Barclays analysts estimate that the collective earnings per share of 15 US life insurance companies will drop by almost 7 per cent over the course of this year, saying that markets appeared to be pricing in a “fairly severe” outcome, including either a recessionary backdrop or losses within private credit portfolios. However, they added that these concerns were overdone.

When looking at short bets against global insurance firms, the value grew by more than 60 per cent in the 12 months to April 15, to over $31 billion, according to calculations by Reuters using S&P Global and LSEG data.

Short positions in Principal Financial Group soared more than 80 per cent in the past year, hitting a peak of over 4 per cent in March, while bets against Brighthouse Financial reached a record high of over 13 per cent of the available stock on March 9, the ORTEX data showed. Both companies declined to comment.

Short positions in Prudential, the only company to comment, rose to 3.27 per cent from 1.96 per cent.

It said that while it does not comment on market activity, it remains focused on disciplined risk management and long-term value creation.

“Life insurers owned by PE (private equity) firms are very long private assets and have very limited capital surplus available,” said Alberto Gallo, founder of hedge fund Andromeda Capital. The firm holds bets against insurers’ bonds.

Barclays, in a separate note on April 20, said it believed that for most insurers the issue was more about transparency than acute credit issues.

Tom Gober, a US-based former insurance examiner who has testified before Congress and US regulators and also advises hedge funds, calculates that insurers have made about $1.54 trillion worth of transactions into opaque subsidiaries called captive insurance companies. Gober does not believe recent regulatory changes in the United States will go far enough to cure the lack of transparency, especially for offshore holdings.

“Perhaps the only regulatory-like message left is for the investment industry to wear the regulator’s hat and short the parent companies,” he said.

Published on April 28, 2026

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Aluminium can shortage puts ₹11,500 crore beer, beverage market at risk in India

by Hansraj Agrawal | Apr 28, 2026 | Business

India’s beverage industry is staring at a potential ₹11,500 crore disruption as a deficit of 12–13 crore aluminium cans builds up, with domestic supply from key manufacturers such as Ball and CANPACK falling to just 10–20% of normal capacity. The crunch follows a global aluminium price surge of about 47–50% year-on-year to around $3,600 per tonne, sharply raising import costs in a market dependent on overseas can-grade aluminium.

The impact is now visible across bars, retail, and quick-commerce platforms. Diet Coke has begun disappearing in several markets, while Monster Energy Zero Ultra (white can), a top-selling zero-sugar variant with no equivalent outside the can format, has also seen supply disruptions across urban channels. Shelves across metros such as Mumbai, Bengaluru, and Pune are thinning, with visible gaps in high-demand categories, including canned beers. The industry is now approaching a supply cliff as pre-disruption inventory runs out.

Anish Varshnei, co-founder and chief production officer at Goa-based Latambarcem Brewers

Supply breakdown

The crisis is being driven by three simultaneous shocks—input costs, disrupted imports, and regulatory constraints—leaving India’s import-dependent supply chain exposed. A CANPACK official told BusinessLine that while production exists, moving material into India has become increasingly difficult.

“There is production, but getting it into India is a challenge right now. We are trying to manage through imports, but timelines are uncertain. We don’t know by when the situation will stabilise.”

With CANPACK supplying Coca-Cola, United Breweries (Heineken), Carlsberg, AB InBev, PepsiCo, and Parle Agro, disruptions are cascading simultaneously across alcoholic and non-alcoholic categories.

Another issue pointed out by the Canpack Official is the complexities in the total number of can packs in India. The most popular beverage can sizes in India are 250 ml, 330 ml/350 ml (standard/sleek), and 500 ml (tallboy), driven by growing demand for convenience, e-commerce, and functional beverages.

While 330ml/350ml is common for soft drinks, 500ml is widely used for beer and energy drinks, with 250ml gaining popularity for functional drinks.

“With raw material constraints, can makers prioritise larger pack sizes for beer over smaller, more complex formats, driving shortages in Diet Coke and other functional drinks,” he said, indicating that the with the onset of summer, companies’ orders are bursting at the seams and its a tough one to start supplies to anyone new for the next 12 months as our existing customers are already getting less, he indicated

Market reality

The industry is currently being cushioned by a production cycle that is about to expire. Most cans in circulation were manufactured in January–February, before the disruption fully hit.

“Some products are not always available, especially in key canned categories. Supply is coming, but not consistently,” a senior retail executive said, adding that availability gaps are becoming more frequent.

Demand trap

“Much of the stock currently available in stores reflects pre-disruption inventory,” said Dhairyashil Patil, National President, AICPDF, warning that supply constraints and rising costs are beginning to pressure distributors and could trigger pricing instability if shortages persist.

The disruption is most acute in categories where the can is not just packaging but the product itself. Products such as Diet Coke and Monster Zero Ultra have no equivalent formats, meaning stock-outs translate directly into lost sales as consumers skip purchases entirely.

This dynamic is particularly visible in quick-commerce channels, where even short stock-outs can shift purchases across platforms. Companies had been pushing small-format cans, including ₹10 price points, to drive penetration—making the disruption a setback for a key growth strategy.

Inventory challenges

The impact is most acute in the beer industry. In several large markets, cans account for 75–80% of sales, while industry estimates suggest 60–70% of the ₹51,000 crore beer market now relies on cans.

Brands such as Kingfisher, Budweiser and Tuborg are staring at a supply cliff as pre-disruption inventory runs out over the coming weeks.

“Cans are easier to transport, there’s less breakage, and margins are better across the supply chain,” said Anish Varshnei, co-founder and chief production officer, Latambarcem Brewers (LBB), when we visited his brewery in Goa last week. “Distributors are asking specifically for 500ml cans over 650ml bottles as the margins are better in cans and liquid less making customers ask for more .”

Companies are scrambling to secure supply. Varshnei said mid-sized players are pivoting to imports from China, Korea, and Vietnam, while larger brewers with rigid supplier approvals have far less flexibility, he said, showcasing a can that the company has recently imported from China.

“The cost difference is negligible—maybe 1–2 paise either way. Availability—not pricing—is the real constraint. adds Anish of LBB.

It is not customers who find cans cool, a 500 ml aluminium can allows up to 1.5 times more volume per truck, making any disruption disproportionately damaging—not just to volumes, but to the economics of the entire route-to-market.

Normal packaging inventory levels of 50–60 days are now running at 20–30 days as companies drain stocks. Emergency imports from China, Sri Lanka, Vietnam, and Korea require upfront payment, a cash outflow at precisely the moment seasonal revenues should be peaking. For brewers already unable to raise prices without state excise approval, the pincer is complete.

In a category driven by peak seasonal demand, missed sales are never recovered.

United Breweries MD Vivek Gupta had earlier flagged the shortage as already impacting growth, estimating a 1–2% hit with no immediate resolution in sight.

Alternatives fall short

The shortfall is translating into a combined hit of over ₹11,500 crore—about ₹6,250 crore in revenue losses (₹1,200–1,300 crore in beer and nearly ₹5,000 crore in non-alcoholic beverages), along with margin pressure of roughly ₹5,300 crore.

“It is going to be a ripple effect,” said Varshnei. “The beer you are seeing today was produced two to three months earlier. This summer is going to be very difficult.”

CRISIL estimates an additional ₹1,500 crore hit to brewer profitability, with EBITDA margins likely to compress by 250–300 basis points. “Packaging itself accounts for about 35% of revenues for brewers, so any disruption hits margins directly,” Varshnei added Unlike most sectors, brewers have limited ability to raise prices due to state-level excise controls.

Glass bottles are also under pressure, with prices rising nearly 20%, while higher weight increases handling costs and breakage risks. Consumers, meanwhile, may defer purchases rather than switch formats, limiting recovery.

No quick fix

PET is emerging as a partial buffer. “Companies are becoming more flexible, moving between cans and PET depending on cost and availability,” said Rahul Gupta, Whole-Time Director at Bharat PET Ltd, though substitution remains limited in premium categories.

A dedicated can facility linked to Reliance’s Campa Cola is not supplying the broader market, restricting incremental supply, with Reliance unlikely to face any challenges, as examples include partnerships with Ceylon Beverage promoted by cricketer Muthiah Muralitharan for Campa, at the Multimodal Logistics Park at Mappedu near Chennai, and acquisitions like Netmeds for manufacturing Campa soft drinks.

The summer of 2026 is turning the aluminium can, once the beverage industry’s most efficient growth format, into its most acute liability. “At best, it will take close to a year for supply to normalise,” Varshnei said. “Right now, we are just fighting for survival.”

Published on April 28, 2026

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Q4 Results 28th Apr Live: Maruti Suzuki, Ceat, Dalmia Bharat, AWL Agri Business, Brigade, Eternal, Castrol India, REC, Star Health to announce Q4 results, UltraTech, Coal India, ATGL, AU SFB, Nippon Life, CUB, Canara Robeco shares in focus

by Hansraj Agrawal | Apr 28, 2026 | Business

businessman investment consultant analyzing company financial report balance sheet statement working with digital graphs. Concept picture for stock market, office, tax,and project. 3D illustration. istock photo for BL
| Photo Credit:
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Q4 Results Today, April 28, 2026, Live Updates: Find all the latest Q4 results 2026 updates of Apt Packaging Ltd, Artson Ltd, AWL Agri Business Ltd, Bandhan Bank Ltd, Brigade Hotel Ventures Ltd, Canara HSBC Life Insurance Company Ltd, Castrol India Ltd, Consolidated Construction Consortium Ltd, Ceat Ltd, Dalmia Bharat Ltd, Dhanlaxmi Bank Ltd, Elpro International Ltd, Emmvee Photovoltaic Power Ltd, Eternal Ltd, Fabtech Technologies Cleanrooms Ltd, Fedbank Financial Services Ltd, Five-Star Business Finance Ltd, Go Digit General Insurance Ltd, Greenply Industries Ltd, Garden Reach Shipbuilders & Engineers Ltd, IFCI Ltd, Infobeans Technologies Ltd, Lakhotia Polyesters (India) Ltd, Mahindra Lifespace Developers Ltd, Maruti Suzuki India Ltd, Mishka Exim Ltd, Mitshi India Ltd, Motherson Sumi Wiring India Ltd, Orient Cement Ltd, Panyam Cements & Mineral Industries Ltd, Panth Infinity Ltd, Piccadily Agro Industries Ltd, Piramal Pharma Ltd, Rajoo Engineers Ltd, REC Ltd, Macfos Ltd, Sanofi India Ltd, Sanofi Consumer Healthcare India Ltd, Sapphire Foods India Ltd, Satchmo Holdings Ltd, Skipper Ltd, Star Health and Allied Insurance Company Ltd, Leela Palaces Hotels & Resorts Ltd, Typhoon Holdings Ltd, and Vardhman Special Steels Ltd.

UltraTech, Coal India, ATGL, AU SFB, SBI Cards, Nippon Life AMC, TMB, CUB, Canara Robeco in focus

Stay tuned for more updates from businessline

April 28, 2026 10:18
Quarterly results

Fabtech Technologies Q4 results live: KEY HIGHLIGHTS

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April 28, 2026 10:14
Stock up

Fabtech Technologies Q4 results live: Shares jump

Fabtech Technologies reported consolidated net profit for the quarter ended March 2026 at Rs 22.05 crore compared to Rs 15.09 crore in the same quarter last year.

Board recommended final dividend of Rs 0.60 per share; and authorised for opening of Step-Down Subsidiary of the Company in the Sultanate of Oman.

Shares traded 7% higher on the NSE at Rs 174.
April 28, 2026 10:07
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Websol Energy Q4 results live: Shares at upper circuit

Websol Energy System shares traded 5% higher at the circuit of Rs 122.20.

The solar energy pioneer, announced a PAT of Rs. 125 crore for Q4FY26 as compared to Rs. 48 crore in Q4FY25, a jump of 157.9%. Revenue for the quarter stood at Rs. 401 crore, as against Rs. 173 crore during the same quarter of last fiscal, a rise of 132.1%. EBITDA margin for Q4FY26 stood at 36.4%.
April 28, 2026 10:05
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City Union Bank Q4 results live: Shares surge

City Union Bank shares traded 5% higher at Rs 285.09, hitting a high of Rs 293.51 from the previous close of Rs 271.21. It reported net profit of ₹360 crore for the quarter ended March 2026 (Q4FY26), a 25 per cent growth compared to ₹288 crore in Q4FY25. Net interest income came in at ₹786 crore, a 31 per cent jump YoY.
April 28, 2026 09:57
Quarterly results

InfoBeans Technologies Q4 results live: Q4 profit, dividend update

InfoBeans Technologies reported standalone net profit for the quarter ended March 2026 at Rs 19.25 crore compared to Rs 12.89 crore in the same quarter last year. In FY26, the PAT stood at Rs 67.07 crore compared to Rs 46.97 crore in the year-ago period.

Board recommended final dividend of Rs 0.50 per share.

Shares traded 4% higher at Rs 192.75 on the NSE.
April 28, 2026 09:54
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Coal India Q4 results live: Shares soar over 4% in early trade following Q4

Coal India shares surges 4% after Q4 earnings beat

Shares of Coal India surged over 4% in early trade on Tuesday after the company reported a strong set of March quarter earnings.

Here’s what brokerages say | READ
April 28, 2026 09:18
Stock market

Stock market live updates, Q4 results live: Markets dip

Sensex fell 169.17 pts or 0.22% to 77,134.46 at 9.16 am after lower opening at 77,094.79 from the previous close of 77,303.63. Nifty 50 dipped by 48.40 pts or 0.2% to 24,044.30 after a flat opening at 24,049.90 from the previous close of 24,092.70.
April 28, 2026 09:15
Quarterly results

Coal India Q4 results live: Brokerages view

Jefferies on Coal India

Buy, TP Rs 500

COAL’s Mar-Q cash EBITDA grew 8% YoY, 14% above JEFe, mainly led by better FSA ASP and e-auction volumes.

An intense summer and weak rainfall are likely to boost power demand and thereby COAL’s volumes in FY27.

Higher global coal prices should lift e-auction prices too.

After 12% EPS fall over FY24-26, expect COAL’s earnings trajectory to improve with 5% CAGR over FY26-28.

Its 9.3x FY27E PE and 6% div-yield are attractive

HSBC on Coal India

Hold, TP Rs 440

Earnings beat expectations in 4QFY26 on higher other income; restatement makes y/y and q/q comparisons difficult

Inventory increased 40MT q/q, even as power plant inventory remains elevated

Employee costs declined y/y, which is a positive

Elevated inventories put a cap on E-auction premiums

Potential large cost increase ahead if diesel prices are increased

Lacking earnings catalysts given oversupplied domestic coal markets. but dividend yield supports stock price
April 28, 2026 09:15
Quarterly results

Adani Energy Q4 results live: Jefferies view

Jefferies on Adani Energy

Buy, TP Raised to Rs 1,665 from Rs1,170

Lower FY27E-28E EBITDA by 5-6% to factor some execution delays on transmission, which led to a miss on March Qtr estimates.

Management, based on won projects and bid pipeline, is confident of Rs153 bn FY26 capitalisation rising to Rs200-220 bn run-rate in FY27E & further

ramping up in FY28E-30E
April 28, 2026 09:14
Quarterly results

AU Small Finance Q4 results live: Brokerages view

Nomura on AU Small Fin BK

Neutral, TP Rs 975

4QFY26: All moving parts align in a seasonally strong quarter

Margin expansion & easing credit costs drive 1.8% ROA

Strong growth momentum; profitability to improve gradually

Asset quality shapes up well across segments in a seasonally strong quarter

Trades at 2.8x FY28F BVPS, which believe adequately captures positives.

UBS on AU Small Fin BK

Neutral, TP Rs 1150

Strong quarter; Asset Quality/NIMs improve sharply

4Q: PAT beat driven by higher NII and lower provisions

Business growth healthy, margins expanded 26bp QoQ

Management reiterates RoA guidance of 1.8%; credit cost to trend lower

Jefferies on AU Small Fin BK

Buy, TP Rs 1250

AU Bank’s Mar-Qtr profit of Rs8.3bn, up 65% YoY, was ahead of est., aided by significantly lower credit costs.

AUM grew 21% YoY, aided by strong momentum in wheels & commercial bk.

NIMs rose 24bps QoQ but may fall in coming quarters as banks raised peak deposit rates by 15-25bps.

Transition to Universal Bank is a key opportunity to aid growth and lift ROA.

See ROA rising to 1.7% in FY27E

CITI on AU Small Fin BK

Buy, TP Rs 1225

4Q PAT surging 65% YoY/25% QoQ to register RoA of 1.8% — decisively ahead of expectations.

NIMs expanded a robust 24bps QoQ to 5.96%, decomposed as: 12bps CoF tailwind, 7bps day-count benefit, and 6bps from lower slippage drag.

Notwithstanding a Rs210mn contingency provision, credit cost sustained its normalization trajectory, compressing sharply to 0.84% (vs 1.11% in 3Q), underpinned by unsecured as well as secured segments.

Mgmt reiterated confidence in sustaining 1.8% RoA on a full-year basis in FY27 (vs 1.6% in FY26), anchored by resilient growth momentum and an intensified efficiency drive.
April 28, 2026 09:14
Quarterly results

SBI Cards Q4 results live: Highlights | Brokerages view

HSBC on SBI Cards

Reduce, TP cut to Rs 500

Slower growth and pressure on nearly all core operating metrics underscored SBICARD’s 4QFY26 performance

Cut EPS estimates by 1.0/9.4% for 27/28e, respectively, cutting growth and revenue estimates

Value SBICARD at 2.3x FY28e BVPS

Jefferies on SBI Cards

Hold, TP Rs 700

SBI Cards’ March Q adj PAT fell 2% YoY to Rs5.2bn, well below our Rs6.0bn est, led by weaker NII & fee-income growth

Net slippages fell 50bps QoQ and credit cost was in line, despite building overlay provision, but receivables growth disappointed & revolver mix fell QoQ

Credit cost should ease further as card stress abates, but portfolio de-risking should cap asset growth & weigh on revolver mix, curbing earnings & returns

Cut FY27– 28E EPS by 4-6%

UBS on SBI Cards

Neutral, TP cut to Rs 780

Muted growth; Asset quality improves sequentially Q4

Miss overall; Credit cost declines but growth remains subdued

Q4 spends grew 31% YoY while receivables were up c2.0% YoY

Management expect loan growth to lag spends growth even in FY27

Stock trades at 3.5x March 2027 P/BV/21.5x PE which appears fair with no immediate catalysts

JPM on SBI Cards

UW, TP Rs 625

Continued to deliver AQ improvement in 4Q as well

Net slippages declined to 5.95% (vs 7.93% in 3Q) and write-offs declined to 7.7% of receivables (vs 8.4% in 3Q) with Gross Stage-3 improving q/q to 2.4% (vs 2.9% in 3Q)

Despite long awaited decline in credit costs, continue to see downside risks to earnings from

(i) potential NIM contraction on deteriorating loan mix (lower revolver and EMIs) & risk of higher funding costs from here with rate cuts largely behind

(ii) subdued receivable growth in FY27 post muted 2% growth in FY26

(iii) elevated opex on costs related to potential acceleration of new card acquisition in FY27

STK still trades at FY27/28E PER (x) of 22.6/19.3, implying limited valuation support
April 28, 2026 09:13
Quarterly results

Q4 results live: Highlights | Piramal Finance

Nomura on Piramal Fin

Buy, TP Rs 2150

Cleaning up and scaling up well

25% loan growth guidance for FY27E

ROAUM guidance of 2.5% by 4Q27E & >3% by FY28E

4Q26: Reduction of legacy book, one-off gains with slight beat on NII

Multiple levers for margin expansion: unsecured loans, gold loans, cost of fund

Stock currently trades at 1.4x one year fwd.

Jefferies on Piramal Fin

Hold. TP Rs 1940

Piramal’s March Q adj. loss was Rs10.9bn vs Rs4.8bn PAT est. as it utilised one-off gains to make large provn towards legacy assets

Reported PAT was Rs5bn. AUM grew in-line; NIM expanded.

Growth business AQ was steady.

Piramal’s profit & returns should improve over FY26-28e on retail AUM growth, lower CoF post rating upgrade & improving opex ratio.

However, at 1.4x FY27e BV, upside seems capped as expect subdued ROA/ROE of 2.1%/10% by FY28e.
April 28, 2026 09:13
Quarterly results

Q4 results live: UltraTech Cement | Brokerages view

Goldman Sachs on Ultratech Cement

Maintain Buy; Target price ₹13,230 (vs ₹13,640 earlier)

Strong Q4 with EBITDA/t at ₹1,167 vs estimates

Volume growth at 9% YoY

India cement volumes up 18% YoY

Realizations improved ~3% QoQ

Strong cost control driving sequential EBITDA/t expansion

Brand integration of India Cements and Kesoram completed

Near-term margins impacted by higher energy costs

Long-term outlook strong with capacity expansion and efficiency

EBITDA CAGR of ~14% expected over next 2 years

CLSA on Ultratech

High Conviction O-P, TP 14000

Delivered strong 4Q with volume up 9% YoY and Ebitda/tonne of Rs1,192, both beating est.

While an extended Middle East conflict could weigh on profitability in near term, sustained cost efficiency leaves UTCEM better positioned to absorb such

Expect capacity-led volume growth & margin improvement to drive mid-to-high-teen Ebitda growth over medium term

Jefferies on Ultratech

Buy, TP Rs 14050

UTCEM ended FY26 on a strong note, with Mar-qtr EBITDA up 21% YoY, driving FY26 EBITDA growth of 36% YoY

FY26 also saw 14% vol growth, with over half of planned savings delivered

Co announced a record 85% + div payout as a special dividend, alongside crossing the 200MTPA capacity milestone

FY27 will be tougher yr amid cost headwinds, though company may still target YoY EBITDA/T growth via price hikes and cost

Savings

HSBC on Ultratech

Buy, TP Rs 14200

UTCEM reported a beat on EBITDA and PAT driven by strong volume growth, and lower costs

Special dividends (Rs 240/sh) a positive; UTCEM’s capex intensity should drop sharply over FY27-29

Increase FY28-29 EBITDA est 2.4%/4.6%
April 28, 2026 09:12
Quarterly results

Q4 results live: HIGHLIGHTS

AFTER MARKET HOURS🕞27-04-2026

ECO Recycling(397) 30DH/L 461/225

ConPBT:11.04 vs 4.23 vs 6.27 cr.

PAT:7.14 VS 2.05 VS 2.2 Cr

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Rossari Bio(Fv2)505 30D H/L 525/373

ConPBT:64.24 vs 42.5 vs 47.7 cr.

PAT:45.97 VS 32.77 VS 34.44 Cr

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Websol Energy(Fv1)116.49 30DH/L 116.49/64

ConPBT:125 vs 84 vs 66 cr

PAT:124.5 VS 64.98 VS 48.27 Cr

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AGI Green(Fv2)565 30DH/L 589/465

ConPBT:152.6 vs 94.46 vs 126 cr.

PAT:115.38 VS 71.45 VS 96.61 Cr

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The Phoenix mills(Fv2)1800 30DH/L 1835/1466

ConPAT:485.4 VS 366.16 VS 347.7 Cr

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COAL INDIA(453) 30D H/L 465/427

ConPAT:10908 VS 7166 VS 9740 Cr

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Kotyark Ind(427) 30D H/L 449/341

ConPBT:13.58 vs 4.11 vs 0.45 cr.

PAT:9.38 VS 3.16 VS 1.51 Cr
April 28, 2026 09:11
Quarterly results

Q4 results live: HIGHLIGHTS

EQUITY PREVIEW:

* Adani Total Gas (ATGL): 4Q Net Income INR1.68B vs. 1.55 b y/y. (1)

* Apollo Hospitals (APHS): Says NCLT Division Bench – II, Chennai approves proposed scheme of arrangement

* AU Small Finance (AUBANK): 4Q Net Income +65% Y/y to INR8.32b (1)

* Bajaj Housing Finance (BAJAJHFL): 4Q Net Income +14% Y/y to 6.69B Rupees (1)

* Central Bank of India (CBOI): To mull FY27 fund raising plan on April 30, via FPO, rights issue, QIP or bonds

* City Union Bank (CUBK): 4Q Net Income +25% Y/y to INR3.6b, Meets Estimates

* Jindal Saw (JSAW): To set up another plant in Saudi Arabia via Jv.

* McLeod Russel India (MCLR): Approves sle of assets of some proposed tea estates

* Mahindra Holidays (MHRL): Buys Coffee Plantation Firm for $4 Million

* Nippon Life India AM (NAM): 4Q Net Income +29% Y/y to INR3.85b, Beats Estimates

* Oil & Natural Gas Corp (ONGC): Unit ONGC Petro additions says parent ONGC approves Jv. in the ratio of 50:25:25 by ONGC, MRPL, OPaL

* Phoenix Mills (PHNX): 4Q Net Income Beats Estimates

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Published on April 28, 2026

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कई शहरों में 100 रुपये से अधिक पहुंचा पेट्रोल का भाव, जानें आपके शहर में क्या है लेटेस्ट रेट?

by Hansraj Agrawal | Apr 28, 2026 | Business

Petrol-Diesel Price on April 28: आज मंगलवार को देश के प्रमुख शहरों में पेट्रोल-डीजल की कीमतें स्थिर बनी हुई हैं, जबकि मिडिल-ईस्ट में बढ़ते तनाव और प्रमुख एनर्जी शिपिंग मार्ग होर्मुज स्ट्रेट (Strait of Hormuz) के बंद होने के चलते ग्लोबल ऑयल मार्केट्स में अस्थिरता का माहौल है.

कहीं 100 से कम तो कहीं ऊपर है कीमत

आज दिल्ली में पेट्रोल की कीमत 94.77 रुपये प्रति लीटर पर बरकरार है. कई अन्य महानगरों में कीमतें अधिक देखी जा रही हैं, जिसमें मुंबई भी शामिल हैं. यहां पेट्रोल की कीमत 103.50 रुपये प्रति लीटर है. अन्य प्रमुख शहरों में भी पेट्रोल की कीमतें 100 रुपये प्रति लीटर से ऊपर दर्ज की गईं, जिनमें कोलकाता (105.41 रुपये), बेंगलुरु (102.92 रुपये) और चेन्नई (100.90 रुपये) शामिल हैं.

डीजल की कितनी है कीमत?

पूरे देश में आज डीजल की कीमतें भी स्थिर रहीं. दिल्ली में डीजल की कीमत 87.67 रुपये प्रति लीटर, जबकि मुंबई में इसकी दरें 90.03 रुपये प्रति लीटर दर्ज की गई है. हालांकि, चेन्नई (92.39 रुपये), कोलकाता (92.02 रुपये) और बेंगलुरु (90.99 रुपये) सहित कई शहरों में कीमतें ज्यादा हैं.

आज पेट्रोल-डीजल की कीमत

शहर	पेट्रोल की कीमत (प्रति लीटर)	डीजल की कीमत (प्रति लीटर)
दिल्ली	94.77	87.67
मुंबई	103.54	90.03
कोलकाता	105.45	92.02
चेन्नई	100.80	92.39
बेंगलुरु	102.92	90.99
चंडीगढ़	94.30	82.45
फतेहाबाद	97.09	89.56
गंगटोक	103.35	90.45
गुवाहाटी	93.23	89.46

ग्लोबल फ्यूल मार्केट में उथल-पुथल

रिटेल फ्यूल की कीमतों में यह ठहराव ग्लोबल क्रूड बेंचमार्क में तेजी से बढ़ोतरी के बावजूद आया है. रॉयटर्स के मुताबिक, ब्रेंट क्रूड 106 डॉलर प्रति बैरल से ऊपर ट्रेड कर रहा है, जबकि US क्रूड 95 डॉलर के करीब है. पिछले हफ्ते इन दोनों में युद्ध शुरू होने के बाद से सबसे बड़ी साप्ताहिक बढ़त दर्ज की गई है.

इस उछाल की वजह अमेरिका और ईरान के बीच रुकी हुई शांति वार्ता और होर्मुज जलडमरूमध्य में लगातार आ रही रुकावटें हैं — यह तेल के परिवहन का एक अहम ग्लोबल रास्ता है, जिससे दुनिया के कुल तेल प्रवाह का लगभग पांचवां हिस्सा गुजरता है. टैंकरों की सीमित आवाजाही और सप्लाई में कमी के कारण बाजार में तंगी बनी हुई है.

ये भी पढ़ें:

महंगाई की दोहरी मार: खाने का तेल ₹182 के पार, रिटेल इंफ्लेशन 3.4% पर पहुंची, बड़े झटके की चेतावनी

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