Sensex, Nifty: Stock Market Cheers Ril Q4 Results; Icici, Hdfc Bank Shares Gain Big

Benchmark indices Sensex and Nifty climbed astir 1 per cent each, acknowledgment to a surge successful shares of Reliance Industries Ltd (RIL) pursuing better-than-expected Q4 results. While IT heavyweights specified arsenic TCS and Infosys declined, it was backstage lenders specified arsenic ICICI Bank and HDFC Bank that supported nan banal indices, information showed. 
The BSE Sensex stood astatine 79,859.57, up 647.04 points aliases 0.82 per cent. The RIL banal unsocial contributed 223.83 points positively to nan scale gains.

"We re-rate nan banal from ‘Buy’ to ‘Accumulate’ station run-up successful banal pinch a target of Rs1,482 based connected SoTP valuing nan standalone business astatine 7.5 times FY27 Ebitda, Jio astatine 15 times FY27 Ebitda and Retail astatine 39 times FY27 Ebitda," PL Capital said.

ICICI Bank and HDFC Bank together accounted for 245-point affirmative publication to nan index's rise. 

The NSE Nifty was up 147.80 points, aliases 0.61 per cent, astatine 24,187.15. The marketplace breadth was mixed, pinch 1,609 stocks advancing and 1,502 stocks declining truthful far.   

Bajaj Finserv gained 1.57 per cent to Rs 2,077.40. Mahindra & Mahindra added 1.56 per cent to Rs 2,906.85. ICICI Bank, HDFC Bank, Tata Motors, State Bank of India and Tata Steel gained complete 1 per cent each. 

VK Vijayakumar, Chief Investment Strategist, Geojit Investments said nan heightened uncertainty relating to Indo-Pak tensions whitethorn measurement connected nan market. While he felt it is difficult to judge really overmuch nan marketplace has discounted nan event, going by nan resilience of nan market, he felt nan marketplace has not discounted a script of nan tensions culminating successful a warfare betwixt nan 2 countries. 

"It is important to retrieve that markets person an uncanny expertise to astonishment by climbing galore walls of worries," he said.

InCred Equities has rolled guardant its Nifty target to FY27F EPS and raised its bull-case probability to 25 per cent to bespeak nan use of better-than-expected rainfall and easing crude lipid prices. The brokerage has a blended target of 24,280 connected Nifty. 

"After adding mid-caps successful a large measurement successful our Mar 2025 high- condemnation list, we move cautious now, arsenic a speedy jump successful mid-cap & small-cap indices starring to their premium valuation (20-35%) to Nifty-50 is simply a origin of concern," it said.

Published on: Apr 28, 2025 10:05 AM IST