Acutaas Chemicals consolidated net profit rises 110.88% in the March 2026 quarter

by Hansraj Agrawal | Apr 30, 2026 | Share Market

Last Updated : Apr 30 2026 | 2:16 PM IST

Sales rise 40.28% to Rs 432.75 crore

Net profit of Acutaas Chemicals rose 110.88% to Rs 131.76 crore in the quarter ended March 2026 as against Rs 62.48 crore during the previous quarter ended March 2025. Sales rose 40.28% to Rs 432.75 crore in the quarter ended March 2026 as against Rs 308.48 crore during the previous quarter ended March 2025.

For the full year,net profit rose 124.47% to Rs 356.26 crore in the year ended March 2026 as against Rs 158.71 crore during the previous year ended March 2025. Sales rose 33.02% to Rs 1339.37 crore in the year ended March 2026 as against Rs 1006.88 crore during the previous year ended March 2025.

ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var.Sales432.75308.48 40 1339.371006.88 33 OPM %42.4127.54 –35.8723.05 – PBDT193.4390.13 115 518.71242.78 114 PBT183.8082.83 122 482.73216.16 123 NP131.7662.48 111 356.26158.71 124

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First Published: Apr 30 2026 | 2:16 PM IST

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Ksolves India consolidated net profit rises 65.36% in the March 2026 quarter

by Hansraj Agrawal | Apr 30, 2026 | Share Market

Last Updated : Apr 30 2026 | 1:16 PM IST

Sales rise 29.06% to Rs 43.03 crore

Net profit of Ksolves India rose 65.36% to Rs 9.69 crore in the quarter ended March 2026 as against Rs 5.86 crore during the previous quarter ended March 2025. Sales rose 29.06% to Rs 43.03 crore in the quarter ended March 2026 as against Rs 33.34 crore during the previous quarter ended March 2025.

For the full year,net profit rose 0.03% to Rs 34.33 crore in the year ended March 2026 as against Rs 34.32 crore during the previous year ended March 2025. Sales rose 18.37% to Rs 162.67 crore in the year ended March 2026 as against Rs 137.43 crore during the previous year ended March 2025.

ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var.Sales43.0333.34 29 162.67137.43 18 OPM %29.3125.64 –29.7134.83 – PBDT12.818.57 49 48.3048.02 1 PBT11.967.80 53 45.1245.81 -2 NP9.695.86 65 34.3334.32 0

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First Published: Apr 30 2026 | 1:16 PM IST

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BSE Small, Midcap indices set to post best monthly rally in 12 years

by Hansraj Agrawal | Apr 30, 2026 | Share Market

The BSE Small, Midcap indices are set to report their sharpest monthly rally in 12 years. In April 2026 (till Wednesday), the BSE Smallcap index surged 20.1 per cent, while the BSE Midcap index soared 14.8 per cent. In comparison, the BSE Sensex was up 7.7 per cent.

Earlier, in May 2014, the BSE Smallcap index had zoomed 20.4 per cent and Midcap index by 15.6 per cent, the BSE data shows. The benchmark Sensex had gained 8 per cent back then.

The recent rally, according to Gaurang Shah, head investment strategist at Geojit Investments, was on the back of a host of factors that included hope of stable March 2026 quarter (Q4-FY26) earnings and retail investor interest amid lack of investment opportunities in the primary markets.

“That apart, small-and midcaps had a bad 2025, so the valuations in a lot of stocks were juicy. I expect the markets to remain choppy in the months ahead. To that extent, these two segments will also remain volatile. Stock selection will be key,” he said.

Among 1,262 stocks from the BSE Smallcap index, over half, or 734 stocks, outperformed in April by recording more than 20 per cent return. Of these 84 stocks zoomed over 50 per cent, and 474 stocks rallied between 25 per cent and 50 per cent.

In the short-term , analysts see the overall market structure weakening as long as crude oil prices stay firm and the Strait of Hormuz remains closed for business. From a technical perspective, 23,800 levels (Nifty), analysts said, remains a key support, and a decisive break below this could accelerate downside toward 23,600–23,400 levels.

“On the upside, a sustained move back above 24,000 is crucial to stabilize the market and prevent further weakness. Momentum indicators are weakening, with the relative strength indicator (RSI) slipping below 50, indicating a loss of strength in the current trend,” said Ponmudi R, CEO of Enrich Money.

Oil prices, rupee hold key

A key factor that will pave the road ahead for the markets, according to analysts, are crude oil prices that surged past $125 per barrel (bbl) on Thursday – up nearly 79 per cent from pre-war levels – as stalled US-Iran talks raised doubts over the reopening of the Strait of Hormuz.

“Markets expect that that the oil will remain sticky around $90/bbl, and I don’t think the market is fully pricing in this possibility at the current levels. The Nifty will remain range-bound for the next few months between 22,000 to 25,000 mark,” said Bino Pathiparampil, head of research, at Elara Securities.

The rupee, analysts at Kotak Securities believe, like every other Asian currency right now, is a high-beta play on Hormuz. Until the Strait reopens, the rupee is likely to remain under pressure.

The next important level they are watching is 96, and a sustained break above 96 will open the path to 97 – a level they see as achievable if Brent stays above $125/bbl and the Hormuz situation deteriorates further.

“On the downside, 94.80 is now a meaningful support zone; anything between 94.50 and 94.80 should see strong dollar buying interest from importers who have been waiting on the sidelines. Anything below 94.50 would require a significant drop in oil prices, meaning a diplomatic breakthrough at Hormuz, which is not our base case today,” said Anindya Banerjee, Head of Commodity and Currency Research, Kotak Securities.

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Indian Bank shares falls 7% after Q4 results; profit grows 5% YoY, NII 11%

by Hansraj Agrawal | Apr 30, 2026 | Share Market

Indian Bank share price today

Shares of public sector lender Indian Bank plunged over 7 per cent to hit an intraday low of ₹812.70 on the National Stock Exchange (NSE) despite the company reporting in-line results in the March 2026 quarter (Q4FY26).

Around 10:55 AM, Indian Bank stock was trading 4.33 per cent lower at ₹835.05, compared to the previous session’s close of ₹875.55 on the NSE. In comparison, the NSE Nifty50 was quoting at 23,811.75 levels, down by 365.90 points or 1.51 per cent.

The market capitalisation of the bank stood at ₹1.12 trillion. The stock price has declined around 19 per cent from its 52-week high of ₹1,000.9 touched on April 15, 2026.
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Indian Bank Q4FY26 results highlights

On the asset quality front, the bank’s gross non-performing assets (NPA) eased to 1.98 per cent from 2.23 per cent in the December 2025 quarter (Q3FY26). Net NPA remained flat at 0.15 per cent on a quarter-on-quarter (Q-o-Q) basis.

Provisions witnessed a sharp jump of 54.7 per cent to ₹1,228 crore in Q4FY26 from ₹794 crore in the corresponding quarter of the previous fiscal.

The bank’s deposits increased by 12.29 per cent Y-o-Y to ₹8.27 trillion in March 2026, compared to ₹7.37 trillion in the year-ago period. Gross advances rose 13.43 per cent Y-o-Y to ₹6.67 trillion from ₹5.88 trillion.

The bank’s board has recommended a dividend of ₹18.25 per equity share for the financial year 2025-26.

Brokerages on Indian Bank results & outlook

According to Motilal Oswal Financial Services (MOFSL), Indian Bank delivered an in-line quarter, with net interest margins (NIMs) broadly matching estimates despite a marginal quarter-on-quarter decline.

The bank has guided for NIMs in the 3.1-3.25 per cent range, factoring in continued pressure from the elevated cost of funds. Loan growth remained steady and broadly in line with industry trends, although management indicated it may trail system growth by around 1-2 per cent to maintain pricing discipline.

“The bank also made additional provisions of ₹3.1 billion relating to the West Asia crisis. On asset quality, slippages were slightly higher due to MOC-related adjustments; however, overall asset quality ratios improved. The bank continues to maintain a best-in-class PCR, providing comfort on incremental credit costs,” the brokerage said in its note.

MOFSL also noted that the transition to expected credit loss (ECL) provisioning is likely to have a manageable impact and can be absorbed over the next one to three quarters.

The brokerage has slightly revised its earnings estimates and expects the bank to deliver return on assets (RoA) and return on equity (RoE) of 1.3 per cent and 17.6 per cent, respectively, in FY27E. It maintained a ‘Buy’ rating with an unchanged target price of ₹1,025, based on 1.5x September 2027 estimated book value.

According to Systematix Institutional Equities, Indian Bank’s Q4FY26 PAT was 3.8 per cent below estimates of ₹32.3 billion, but still grew 1.4 per cent Q-o-Q and 5 per cent Y-o-Y. The sequential improvement was driven by higher net interest income (NII), strong fee income growth, and lower operating expenses, led by reduced employee and other costs. The bank management expects the cost of funds to grow going ahead, while retail term deposits are unlikely to reprice further, which may keep margins under pressure. NIMs are expected to remain in the 3.10–3.25 per cent range.

The brokerage said asset quality witnessed some pressure, with the annualised gross slippage ratio rising to 0.85 per cent, up 21 bps Q-o-Q. Management attributed higher slippages of ₹4 billion to marking-of-changes (MOC), which it described as a year-end phenomenon. Credit costs rose to 0.77 per cent, up 21 bps Q-o-Q, though the bank made a prudent provision of ₹3.1 billion related to the West Asia conflict, with no additional stress observed.

Management has guided the slippage ratio and credit costs to remain below 1 per cent going forward. Liquidity coverage ratio (LCR) stood at 127 per cent, with a potential 4-5 bps benefit expected from new LCR norms.

Systematix maintained a ‘Hold’ rating on Indian Bank with an unchanged target price of ₹990, valuing the standalone bank at 1.5x FY28E adjusted book value per share of ₹659.
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Disclaimer: View and outlook shared belong to the respective brokerages/analysts and are not endorsed by Business Standard. Readers’ discretion is advised.

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OnEMI Technology IPO: Brokerages split on prospects; should you apply?

by Hansraj Agrawal | Apr 30, 2026 | Share Market

OnEMI Technology: The maiden public issue of OnEMI Technology Solutions, a fintech company operating the digital lending platform Kissht, has opened for public subscription today, April 30, 2026. The company aims to raise ₹925.92 crore from its initial public offer (IPO). The mainline offering comprises a combination of fresh issue of 49.7 million equity shares amounting to ₹850 crore and an offer for sale (OFS) of 4.4 million equity shares amounting to ₹75.92 crore. Under the OFS, Ammar Sdn Bhd, Vertex Growth Fund Pte Ltd, Vertex Ventures SEA Fund III Pte Ltd, Vertex Growth Fund II Pte Ltd, Ventureast Proactive Fund II, Endiya Seed Co-creation Fund, AION Advisory Services LLP, VenturEast Proactive Fund LLC, VenturEast SEDCO Proactive Fund LLC and Ventureast Proactive Fund will divest a part of their stake.

The company has reserved not more than 50 per cent of the issue for Qualified Institutional Buyers (QIBs), not less than 15 per cent for Non-Institutional Investors (NIIs), and not less than 35 per cent for retail investors.

OnEMI Technology IPO GMP

On Thursday, the unlisted shares of OnEMI Technology were trading at ₹175.5 in the grey market, up by ₹4.5 or 2.63 per cent compared to the upper end of the price band of ₹162 to ₹171, according to sources tracking unofficial markets.

OnEMI Technology IPO: Here’s what the brokerages suggest

Arihant Capital – Subscribe

According to Arihant Capital, OnEMI is at an inflexion point where foundational investments in technology, collections infrastructure, branch network for LAP, and lender partnerships are largely complete, positioning the company to benefit from operating leverage on incremental AUM growth.

With a total AUM of INR 59,558 mn as of December 2025 and a residual loan tenure of nearly 15 months already locked in, analysts believe the near-term revenue visibility remains reasonable.

The firm’s strategic shift toward longer-tenor, lower-rate, higher-quality borrowers has temporarily compressed FY25 revenues but has structurally improved the credit cost outlook. As this cleaner loan book season begins, normalisation in NPAs and lower provisioning are expected to support PAT expansion, the brokerage said.

At the upper band of ₹171, the issue is valued at a P/E of 10.84x based on annualised EPS of ₹15.77. Arihant Capital recommends a “Subscribe” rating for the issue.

Swastika Investmart – Neutral

According to Swastika Investmart, OnEMI Technology Solutions is priced at 10.8x price-to-earnings (P/E) and 0.91x price-to-book (P/B), reflecting a steep discount to peers such as Bajaj Finance, making the entry point appear attractive.

The brokerage noted that the company’s strong scale, with over 6.3 crore users and a Net Promoter Score (NPS) of 91-95, is considered rare for a lending business. However, it said that 94 per cent of the loan book is unsecured, making it vulnerable to economic slowdowns or tighter RBI regulations, which could directly impact asset quality.

It also added that FY25 performance was weak, while 9MFY26 showed recovery, but consistency remains lacking, with some analysts placing the stock under a “watch” category.

Overall, while valuations are inexpensive and the business model is differentiated, Swastika Investmart flags unsecured lending exposure and pending litigations as key risks, suggesting cautious investors wait and watch.

Here are the key details of the OnEMI Technology IPO:

The three-day subscription window to bid for the OnEMI Technology IPO will close on Tuesday, May 5, 2026. The allotment of shares is expected to be finalised on Wednesday, May 6, 2026. The successful allottees will receive the company’s shares in their respective demat accounts on Thursday, May 7, 2026.

Shares of OnEMI will make their debut on the exchanges, NSE and BSE, tentatively on Friday, May 8, 2026.

The company has set the price band in the range of ₹162 to ₹171, with a lot size of 87 shares. A retail investor would require a minimum investment of ₹14,877 to bid for at least one lot and in multiples thereafter.

Kfin Technologies is the registrar for the issue. JM Financial, HSBC Securities and Capital Markets (India), Nuvama Wealth Management, SBI Capital Markets, and Centrum Broking are the book-running lead managers.

According to the red herring prospectus (RHP), the company aims to utilise ₹637 crore from the net fresh issue proceeds for augmenting the capital base of Subsidiary, Si Creva, to meet its future capital requirements. The remaining funds will be used for general corporate purposes. =========================== Disclaimer: View and outlook shared belong to the respective brokerages/analysts and are not endorsed by Business Standard. Readers’ discretion is advised.

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Stock market holiday: Are NSE, BSE open or closed on May 1? find out here

by Hansraj Agrawal | Apr 30, 2026 | Share Market

Indian Stock Market holidays 2026: The Indian equity markets will remain closed for trading on Friday, May 1, 2026, on account of Maharashtra Day, which marks the formation of the state of Maharashtra, where the stock exchanges are based.

Trading and settlement activities across the equity, equity derivatives, and Securities Lending and Borrowing (SLB) segments will remain suspended on both the BSE, and the National Stock Exchange (NSE), according to exchange data.

Markets will resume regular trading on Monday, May 4, 2026. Under normal circumstances, Indian stock exchanges operate from Monday to Friday, with the main trading session running from 9:15 AM to 3:30 PM, preceded by a 15-minute pre-open session from 9:00 AM to 9:15 AM. The markets remain closed on weekends and designated public holidays.

Will MCX remain open on March 31?

While the National Commodity & Derivatives Exchange (NCDEX) will remain closed for the entire day, the Multi Commodity Exchange (MCX) will operate in a split session. The morning session, typically between 9:00 AM and 5:00 PM, will remain closed, while trading will resume in the evening session from 5:00 PM to 11:55 PM.

Indian stock market holidays in 2026

Besides the regular weekend closures on Saturdays and Sundays, Indian equity markets are set to observe two public holidays in May 2026 – May 1 for Maharashtra Day, and May 28 for Bakri Id., according to exchange data.

Here is the complete list of Indian stock market holidays in 2026:

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