Sensex, Nifty 50 rise on hopes of US-Iran ceasefire plan, rupee gains| Business News

Nifty Bank rose 2.3%, led by 2.7% jump in HDFC Bank and 2.9% gains in Bajaj Finance. Axis Bank added 4%.

“Pre-result updates suggest a continued sequential pickup in loan growth, (while) most banks have also reported a similar uptick in deposit growth,” Investec said.

Reliance Industries shed 3.4% to close near one-year low as analysts flagged hit to refining margins after the government imposed export tax on diesel last week.

Trent Ltd., Sobha Realty and D-Mart jumped 8%, 5.8% and 4.3% after reporting robust business growth in March quarter.

Trent Ltd. on Monday said its standalone revenue rose 20% in Q4 FY26, picking up from the slowest growth in four years recorded earlier in FY26, sending its shares more than 5% higher in morning trade.

The apparel retailer from the House of Tata has been on an expansion spree over the last few quarters—Trent had 1,286 stores as on 31 March 2026 versus 1,043 a year earlier. The operator of Zudio and Westside plans to open more stores in smaller cities and towns, betting on demand growth outside the key metro markets.

That helped Trent’s standalone revenue excluding tax rise to ₹4,937 crore in Q4 FY26 from ₹4,106 crore the year before.

India’s services economy lost momentum for a second consecutive month in March, growing at its slowest pace of expansion in more than a year as demand cooled and inflationary pressures built amid an ongoing Iran war.

The HSBC India Services Purchasing Managers’ Index, compiled by S&P Global, fell to 57.5 last month from 58.1 in February. While the reading remains above the 50-mark that separates expansion from contraction, it represents the softest rate of expansion since January 2025.

The slowdown reflects a cooling in new business intakes, which moderated to a 14-month low. Survey participants noted that domestic demand was weighed down by market volatility and the lingering impact of geopolitical tensions in the Middle East, which dampened tourism and broader commercial activity.

Wipro Ltd. has agreed to acquire the technology services arm of Olam Group Ltd. for $375 million, anchoring a massive eight-year transformation contract worth more than $1 billion.

The deal marks a significant strategic pivot for India’s fourth-largest software services exporter under Chief Executive Officer Srini Pallia. By absorbing Olam’s Mindsprint Pte., Wipro secures a deep foothold in the “farm-to-fork” supply chain—a sector increasingly reliant on AI and digital logistics to navigate global inflationary pressures.

Shares of Bengaluru-based Wipro rose as much as 3.2% in Monday trading, leading gains on the Nifty IT index.

WeWork India Management Ltd. has signed five large-scale, long-term lease agreements across Bengaluru, Hyderabad, and Chennai, totaling over 700,000 square feet of office space.

The five new centres—three in Bengaluru, and one each in Hyderabad; and Chennai will collectively add ~12,000 desks.

Auto sales in India grew 13.30% year-on-year to an all-time high of 2,96,71,064 units on the back of GST rationalisation, according to the Federation of Indian Automobile Dealers Associations.

Auto sales in FY26 (Key Highlights)

• 2W sales up 13.40% YoY at 2,14,20,386 units

• 3W sales up 11.68% YoY at 13,63,412 units

• 4W sales up 13.00% YoY at 47,05,056 units

• CV sales up 11.74% YoY at 10,60,906 units

• Tractor sales up 18.95% YoY at 10,50,077 units

The rupee has strengthened to 93/Dollar versus Thursday’s close of ₹93.10/Dollar, according to CNBBC TV18.

Yes Bank Ltd. on Monday said that Prashant Kumar has stepped as the CEO and MD of the private lender upon completion of his tenue. Vinay Muralidhar Tonse will take charge effective immediately.

The board of Aurobindo Pharma Ltd. has approved a ₹800-crore share buyback plan wherein the drugmaker will repurchase 54,23,728 fully paid-up equity shares, equivalent to 0.93% stake, at ₹1,475 apiece. The offer price is a premium of 11.6% over Thursday’s close of ₹1,333.70 on the NSE.

The board has set 17 April 2026 as the record date for the purpose of determining the entitlement and the names of equity shareholders who would be eligible to participate in the buyback.

India’s bank stocks are likely to face further losses as the RBI tightens its grip on rupee trading and rising crude oil prices weigh on profit outlooks, analysts say.

Jefferies estimates banks may face up to ₹5,000 crore in losses from the unwinding of currency trades due to central bank directives.

Already, global investors withdrew a record ₹32,700 crore from bank stocks in the first two weeks of March, according to National Securities Depository Ltd. data. The Nifty Bank Index has lost $95 billion market cap since the start of March, narrowly avoiding a bear market — defined as a 20% drop from a recent high.

“There could be further pressure on these stocks in the short-to-medium term as monetary policy can remain tight,” said Kranthi Bathini, an equity strategist at WealthMills Securities.

• HDFC Bank Ltd. reported a 10% growth in average advances and a bigger 12.8% growth in average deposits in the March quarter.

• Kotak Mahindra Bank’s advances rose 16.2%, while Bajaj Finance reported a 20.5% jump in new loans.

• Wipro Ltd. to acquire Mindsprint, a subsidiary of Singapore-based Olam Group, for an enterprise value of $375 million.

• IndusInd Bank Ltd. reports 8.7% drop in net advances for the quarter ended 31 March, while deposits fell 2.6%.

• Dabur Ltd. expects Q4 operating profit to grow faster than revenue as sturdy local demand at home counters slower global growth.

• Sobha Ltd. reported 11.1% growth in sales in Q4 FY26, while average price realisation rose 29.6%.