Prince Pipes & Fittings completes acquisition of assets of manufacturing unit in Bhuj, Gujarat

by Hansraj Agrawal | Apr 7, 2026 | Share Market

Last Updated : Apr 07 2026 | 7:16 PM IST

Prince Pipes & Fittings had earlier announced the Asset Purchase Agreement for a manufacturing facility in Bhuj, Gujarat on 20 March 2024, structured in two phases.

The first phase included the acquisition of the Aquel brand along with moulds, dies and related intellectual property, enabling the company to initiate the integration of the bathware portfolio within its product offering.

Accordingly, the company today announced the completion of the second phase of the Asset Purchase Agreement (APA) with Klaus Waren Fixtures, relating to the acquisition of identified assets of the Klaus Waren Fixtures. The acquired assets will serve as the manufacturing base for the company’s bathware operations and will support scaling of the Aquel by Prince product portfolio, which includes faucets and bathroom accessories. Management will continue the measured build-out of the business through distribution expansion, product development and targeted brand investment.

Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Apr 07 2026 | 7:16 PM IST

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QSR stocks fall as supply issues raise risk of earnings downgrades

by Hansraj Agrawal | Apr 7, 2026 | Share Market

Shares of quick service restaurant (QSR) companies fell up to 10 per cent on the BSE during Tuesday’s intra-day trade due to growth concerns. While Jubilant FoodWorks was down 10.5 per cent at close, Westlife FoodWorld slipped over 2 per cent. Other listed majors in this space, Devyani International, Sapphire Foods India and Restaurant Brands Asia, were trading flat at close. In comparison, the BSE Sensex was up 0.7 per cent at 74,616 at close.

In the past one month, these stocks have underperformed the market by falling as much as 13 per cent, as against a 4 per cent decline in the benchmark index.

The share price of Jubilant FoodWorks hit a 52-week low of ₹409.85, declining over 10 per cent in intra-day trade on the back of a multifold jump in trading volumes after the company released its pre-quarter update for the March 2026 quarter (Q4FY26).

The India business recorded a 6.2 per cent year-on-year (Y-o-Y) growth in revenues to ₹1,686 crore. Moderation in revenue growth continues, with growth declining from the high teens in Q1FY26 to mid-single digits in Q4FY26. Consolidated revenues recorded 19.1 per cent Y-o-Y growth to ₹2,505.8 crore for the quarter.

Improvement in consolidated performance is largely driven by outperformance in the international business. Domestic like-for-like (LFL) growth for the quarter stood flat at 0.2 per cent, given the higher base. Elara Securities, however, believes that the weakness appears largely attributable to ongoing commercial LPG supply constraints. This is likely the primary driver of the miss, rather than any structural demand weakness, especially as competitive intensity in the pizza category continues to moderate, it adds.

The ongoing US-Iran conflict is creating operational challenges, primarily through disruptions in LPG availability and logistics. A large proportion of stores remain dependent on commercial LPG cylinders (for Domino’s, over 70 per cent; KFC/Pizza Hut, over 60 per cent), making them vulnerable to supply-side constraints. While some players (e.g., McDonald’s) have low dependence (20–25 per cent of stores), companies have been able to navigate the situation, and most stores across brands were operational during March, according to Motilal Oswal Financial Services (MOFSL).

Commenting on Jubilant’s Q4 update, Elara Securities said that it will closely monitor LFL trends going ahead to assess whether the Q4 weakness is transient or indicative of sustained pressure, as this could trigger potential downgrades to estimates and valuation multiples.

Companies have taken multiple initiatives (electric ovens, induction cooking, menu alteration); however, any supply shortage can still disrupt operations going ahead. Gross margins are expected to remain healthy, while some companies (McDonald’s, KFC) have taken to value offerings/discounting during the last six months, which can have an impact on margins, the brokerage firm said in the consumer sector Q4FY26 result preview.

According to MOFSL, QSR companies in Q4FY26 have shown early signs of sequential improvement, with January witnessing relatively better traction. Early Navratri (last year in April) and Ramadan had a partial impact on demand. Still, most companies have seen better same-store sales growth (SSSG) trends than in Q3.

Meanwhile, India’s food service sector is highly dependent on LPG, with nearly 90 per cent of the ~0.5 million organised restaurants relying on commercial cylinders because PNG access is largely limited to select metros. Most outlets maintain only limited inventory buffers; hence, a prolonged supply shortage could quickly translate into operational stress for 25–30 per cent of restaurants, analysts at JM Financial Institutional Securities said in the QSR sector update.

Anurag Katriar, ex-NRAI president, argues burger and pizza QSR chains appear relatively insulated due to their greater use of electric equipment, whereas Indian, Chinese, catering, and smaller independent outlets remain more vulnerable due to their reliance on flame-based cooking. If the LPG shortage extends over a longer period, the sector could see meaningful operational disruptions and margin pressure, particularly given the industry’s high fixed-cost structure.

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India's per capita textiles demand showed robust growth in last decade

by Hansraj Agrawal | Apr 7, 2026 | Share Market

Last Updated : Apr 07 2026 | 6:16 PM IST

As per a study conducted by the Textiles Committee under the Ministry of Textiles, the domestic demand for textiles has experienced a robust growth during last 15 years. The market size of textiles has increased from Rs 4.89 lakh crores in 2010 to Rs 14.95 lakh crores in 2024 experiencing a Compound Annual Growth Rate (CAGR) growth of 8.3%. Out of total market size, the contribution of household has increased from Rs 4.18 lakh crores in 2010 to Rs 8.77 lakh crores in 2024 and played a pivotal role in driving the domestic demand of textiles in the country.

At the same time, the per capita demand increased from Rs 2,119 in 2010 to Rs 6,066 in 2024 experiencing a CAGR growth of 7.8%, reflecting a strong growth trajectory. The estimates show a robust growth in per capita demand in textiles by the individuals during the same period. Man Made Fibre (MMF) & blended fiber-based products are contributing 52.2%, followed by 41.2% by cotton-based products. On the other hand, Silk and Woollen fiber-based products are contributing 5.2% and 1.3% respectively to the product basket.

In absolute terms, the demand for MMF & blended textiles recorded most significant growth, with demand increasing from Rs 1.47 lakh crores to Rs 4.47 lakh crores, with a CAGR of 8.28%. Cotton maintained its position as the second most important fiber, with aggregate demand increasing from Rs 0.87 lakh crores to Rs 3 .53 lakh crores with a CAGR of 10.53%. The demand for Silk and Wool based products increased at CAGR of 8.93% and 7.02% respectively during same period.

Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Apr 07 2026 | 6:16 PM IST

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Sebi grants one-time relaxation to IPO-bound companies, MPS norms

by Hansraj Agrawal | Apr 7, 2026 | Share Market

Amid intense market volatility and dampened investor confidence, the Securities and Exchange Board of India (Sebi) on Tuesday announced a set of one-time relaxations covering both public issue timelines and minimum public shareholding (MPS) norms.

IPO-bound companies have been granted a six-month extension to the validity of approvals from the market regulator.

The market regulator also announced a one-time relaxation from the penal provisions for listed companies not meeting the minimum public shareholding (MPS) requirements. The relaxation will be applicable for companies whose due date for compliance with MPS falls between April 1, 2026, and September 30, 2026.

On initial public offerings, Sebi has granted an extension of the validity of its observation letters issued for initial public offerings (IPOs) till September 30, 2026. The benefit will be available for companies whose observations are expiring before the first half of the financial year 2027.

Under present norms, IPO approvals or observations lapse after 12 months of issuance, following which companies may have to refile their draft documents for approval from the market regulator.

“Considering the representation of the industry body, the prevailing uncertain market conditions due to ongoing geopolitical tensions and subdued investor participation, Sebi has decided to grant a one-time relaxation to extend the validity of Sebi observation letters,” noted the circular.

The lead manager of the IPO will have to give an undertaking to the market regulator confirming compliance with the ICDR regulations while submitting the updated offer document.

The regulator noted that issuers have faced difficulties in mobilising resources and accessing the capital market in the backdrop of ongoing geopolitical tensions in the Middle East.

“This has led several issuers to defer, recalibrate or withdraw issuance plans, leading to potential lapses in observation letter validity and duplication of regulatory processes,” it noted.

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Sensex adds 510 pts, Nifty ends above 23,100 in fourth session gain

by Hansraj Agrawal | Apr 7, 2026 | Share Market

The key equity indices ended Tuesday with gains, extending their recovery for the fourth consecutive session. The Nifty opened sharply lower and slipped to an intraday low of 22,719.30 in early trade but gradually pared losses through the day. The index saw a steady recovery in the afternoon session, moving into positive territory and closing above the 23,100 mark. Gains were supported by strength in IT and metal stocks. Volatility remained elevated due to the weekly expiry of Nifty 50 contracts. Sentiment stayed cautious amid tensions in West Asia and uncertainty around a potential U.S.-Iran deal. Investors also remained watchful ahead of the RBI monetary policy decision on Wednesday, with expectations of a status quo on interest rates.

The S&P BSE Sensex climbed 509.73 points or 0.69% to 74,616.58. The Nifty 50 index soared 155.40 points or 0.68% to 23,123.65. In four consecutive sessions, the Sensex surged 3.70% while the Nifty gained 3.54%.

Infosys (up 2.59%), Bharti Airtel (up 2.13%) and ICICI Bank (up 1.39%) supported the indices today.

In the broader market, the BSE 150 MidCap index added 0.03% and the BSE 250 SmallCap index rose 0.16%.

The market breadth was strong. On the BSE, 2,671 shares rose and 1,555 shares fell. A total of 158 shares were unchanged.

The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, dropped 3.03% to 24.70.

Monsoon Forecast:

Private weather forecaster Skymet expects Indias 2026 monsoon to be below normal at around 94% of the long-period average, with El Nino likely to strengthen and disrupt rainfall in the second half of the season. While June could begin on a stable note, rains are expected to turn erratic from July to September, with central and north-west regions facing deficits, even as eastern and northeastern parts fare relatively better.

Numbers to Track:

The yield on India’s 10-year benchmark federal paper declined 0.30% to 7.022 compared with the previous session close of 7.043.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 93.0075 compared with its close of 92.9000 during the previous trading session.

MCX Gold futures for 5 June 2026 settlement rose 0.27% to Rs 150,390.

The US Dollar Index (DXY), which tracks the greenback’s value against a basket of currencies, was down 0.09% to 99.92.

The United States 10-year bond yield fell 0.16% to 4.327.

In the commodities market, Brent crude for June 2026 settlement declined 89 cents or 0.81% to $108.88 a barrel.

Global Markets:

US Dow Jones futures fell 145 points, indicating a weak start for Wall Street later today.

European shares declined on Tuesday after a long weekend. Gains remained limited as investors stayed cautious ahead of US President Donald Trumps deadline for Iran to agree to a ceasefire, keeping geopolitical tensions in focus.

Asian shares ended mixed, with investors largely on the sidelines amid uncertainty around the Iran situation. Concerns over potential disruption to the Strait of Hormuz, a key global oil transit route, also weighed on sentiment.

US President Donald Trump warned of potential strikes on Irans civilian infrastructure if a deal is not reached within 24 hours, while also indicating that negotiations are ongoing.

Trump reiterated his demand for Iran to reopen the Strait of Hormuz by Tuesday evening, warning of severe retaliation if the deadline is not met.

The US and Iran are discussing a framework to end their five-week conflict. However, Iran has pushed back against immediate reopening of the Strait under a temporary ceasefire and has outlined its own conditions, including an end to hostilities, sanctions relief, and reconstruction.

Overnight, Wall Street ended higher. The S&P 500 rose 0.44% to 6,611.83, the Nasdaq Composite gained 0.54% to 21,996.34, and the Dow Jones Industrial Average advanced 165.21 points, or 0.36%, to 46,669.88.

Stocks in Spotlight:

The Nifty IT index jumped 2.50% to 31,403.35. The index surged 8.05% in four consecutive trading sessions.

Mphasis rose 4.21%, while Wipro gained 3.71% and Larsen and Toubro Mindtree advanced 3.42%. Tata Consultancy Services added 2.81%, HCL Technologies climbed 2.65%, and Infosys increased 2.59%. Oracle Financial Services Software moved higher by 2.55%, while Tech Mahindra rose 1.66%. Persistent Systems gained 1.24%, and Coforge advanced 1.05%.

Tata Steel added 1% after the company announced that its India crude steel production jumped 15% to 6.25 million tons in Q4 FY26, compared with 5.44 million tons in Q4 FY25.

Jubilant FoodWorks tumbled 10.54%. The company said its consolidated revenue from operations stood at Rs 2,505.8 crore in Q4 FY26, up 19.1% year-on-year (YoY). The companys standalone revenue rose 6.2% YoY to Rs 1,686 crore. Dominos India like-for-like (LFL) growth came in at 0.2%, while Dominos Turkey recorded a 9% LFL growth (post Ind AS 29).

As per reports, the standalone revenue and Domino’s India’s like-for-like growth were weaker than anticipated.

Dynacons Systems & Solutions rallied 3.81% after it has bagged a Rs 25 crore contract from Jammu & Kashmir Bank for the design, implementation, and support of a centralized, enterprise-wide Enterprise Resource Planning (ERP) platform.

Titagarh Rail Systems surged 8.84% after the companys subsidiary, Titagarh Naval Systems, has received an in-principle approval from Ministry of Ports, Shipping and Waterways for its brownfield expansion project at Falta, West Bengal.

Godrej Consumer Products (GCPL) advanced 2.58% after the company said its standalone business is expected to deliver double-digit underlying sales growth and high-single digit underlying volume growth in Q4 FY26.

CreditAccess Grameen jumped 4.92% after the microfinance lender reported a strong operational performance for FY26, led by healthy disbursement growth, portfolio expansion and improvement in asset quality.

Gallantt Ispat surged 10.32% after the company reported a 59% year-on-year rise in pellet production to 2,21,612 MT in Q4 FY26 as against 1,39,697 MT in Q4 FY25.

Shyam Metalics & Energy rallied 3.58% after the company announced that its stainless steel sales volume jumped 58.91% to 10,519 MT in March 2026 as compared with 6,619 MT in March 2025.

Lodha Developers rose 0.89%. The company said that it has recorded quarterly pre-sales of Rs 5,890 crore in Q4 FY26, which is higher by 23% as compared with the pre-sales of Rs 4,810 crore registered in Q4 FY25.

Kalyan Jewellers India slipped 1.46% after its consolidated revenue climbed 64% YoY in Q4 FY26, driven by strong festive and wedding demand, robust same-store sales growth (SSSG), and sharp traction in its digital platform, Candere.

Alembic Pharmaceuticals jumped 5.22% after it has received final approval from the US Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Dapagliflozin tablets in 5 mg and 10 mg strengths. The approved drug is therapeutically equivalent to AstraZenecas reference listed drug (RLD), Farxiga. Dapagliflozin is a sodium-glucose cotransporter 2 (SGLT2) inhibitor used to reduce the risk of hospitalization for heart failure in adults with type 2 diabetes and to improve glycaemic control.

Indian Railway Finance Corporation added 0.18%. The company said that it has sanctioned and fully disbursed Rs 1,000 crore term loan to Maharashtra State Power Generation Company (MAHAGENCO).

Fino Payments Bank rose 2.10% after the bank said that it has added nearly 7 lakh new accounts in Q4 FY26, taking the total customer base to 1.75 crore accounts.

Aartech Solonics jumped 7.32% after the company announced it has received a purchase order worth Rs 1.26 crore from Zero Systems (Proprietorship).

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Unimech Aerospace reports healthy order inflows in Q4

by Hansraj Agrawal | Apr 7, 2026 | Share Market

Unimech Aerospace and Manufacturing announced that its orderbook stood at approximately Rs 214 crore as of 31st March 2026, supported by better demand conditions and a healthy order book.

During Q4 FY26, the company observed a gradual improvement in the operating environment. Following recent developments in U.S. tariff policies, customer procurement activity has shown signs of normalization, resulting in improved order inϐlows and healthy business traction during the quarter.

The company has witnessed a sequential improvement in business activity during Q4 FY26 compared to the preceding quarters of the ϐinancial year. The pipeline of new enquiries across core segments remains steady, supporting near-term business visibility

The company said that while the evolving geopolitical situation in West Asia does not currently have a direct material impact on its operations, it continues to monitor developments closely given potential indirect implications on global supply chains and logistics.

Unimech Aerospace and Manufacturing is a precision engineering company engaged in the design, manufacture, and supply of critical parts and components, including aero tooling, ground support equipment, electro-mechanical sub-assemblies, and related products. Its offerings cater to the aerospace, defence, energy, and semiconductor industries.

The companys consolidated net profit declined 84.71% to Rs 2.38 crore on 37.45% fall in revenue from operations to Rs 33.71 crore in Q3 FY26 over Q3 FY25.

The counter rose 0.16% to end at Rs 740.05 on the BSE.

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