Bharat Electronics gains on ₹569 Cr order win; Trent Ltd falls despite strong Q4 - Paper by Pocketful

Apr 23, 2026

Bharat Electronics Limited (+0.28%): Stock traded in green after securing ₹569 crore orders, including avionics, EW systems, high-energy lasers, communication equipment, and tank subsystems, boosting order inflow for FY27 and strengthening defence outlook.
Jio Financial Services (+4.26%): Stock gained after entering 50:50 insurance JV with Allianz Group, expanding into general and health insurance, pending regulatory approvals.
Trent Ltd (-4.13%): Stock declined despite strong Q4; net profit rose 32.6% YoY to ₹413 crore, revenue up 19.2% YoY to ₹5,028 crore. Fall driven by market sell-off, crude surge amid Strait of Hormuz tensions, weak rupee, and cautious near-term outlook.
L&T Technology Services (-2.83%): Stock declined despite strong Q4; profit 6.8%, revenue 8.3%, margin improved to 15.2%, as muted outlook and profit booking weighed on sentiment.

Pharma | Nifty Pharma (+2.36%): Index gained led by buying in pharma stocks on defensive demand, weak rupee boosting export earnings, and positive global cues; 17 gainers and 3 laggards.
Healthcare | Nifty Healthcare (+2.11%): Index surged led by strong rally in Dr. Reddy’s Laboratories and Piramal Pharma; gains driven by product launches, contract wins, and positive brokerage outlook on growth and margins.
Auto | Nifty Auto (-2.35%): Index declined due to surge in crude prices, weak rupee, and risk-off sentiment impacting demand outlook; broader selling pressure with 1 gainer and 14 losers.
PSU Bank | Nifty PSU (-2.19%): Index declined amid profit booking, weak sentiment, and rising bond yields impacting margins; all constituents traded in red, indicating broad-based selling across PSU banks.

Technical Level: Nifty Opened with a Gap-Down opening, traded in a range overall in negative, making Support at 24,140 & Resistance at 24,310.
Advance-Decline Ratio: Advances stood at 1,253, while declines outnumbered at 2,036, indicating negative market breadth.
The Big Picture: Oil exporters scramble for alternative routes after Hormuz disruption, triggering supply concerns; limited options keep markets volatile, while long-term shift to new export routes likely.
FII/DII Activity (April 23, 2026): DIIs bought ₹941 crore, while FIIs sold ₹3,255 crore in today’s session.

IPO Corner: Leapfrog Engineering SME IPO is now open for subscription.
Macro: Japan Inflation Rate YoY (Mar) & UK Retail Sales MoM (Mar) are set to be released tomorrow.
Index Watch: Nifty opened negative today, with heavy selling in Auto and PSU Bank sectors dragging the market lower. Persistent FII selling further weakened sentiment, keeping indices under pressure throughout the session. Overall trend remained weak with limited recovery, as support was seen at 24,000 while resistance stood near 24,350.

Liquidity: The ease with which an asset can be quickly bought or sold in the market without affecting its price.

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