Nifty Pharma Jumps on Sun Pharma Global Acquisition; Paytm Falls After RBI Action on Payments Bank – Paper by Pocketful

Apr 27, 2026

Reliance Industries (+2.86%): Stock rallied despite weak Q4; profit fell 8.9% YoY to ₹20,589 crore and EBITDA margin slipped to 14.9%, but revenue rose 12.9% to ₹3.25 lakh crore. Strong retail & Jio momentum and ₹6/share dividend supported sentiment.
India Cements (+6.72%): Stock gained after Q4; profit surged 142% YoY to ₹59.5 crore with modest revenue growth of 2.6% to ₹1,228.65 crore. Despite an exceptional loss of ₹10.9 crore (vs gain last year), strong earnings growth supported sentiment.
One 97 Communications (-1.33%): Stock declined after the Reserve Bank of India cancelled Paytm Payments Bank’s licence effective April 24. The board approved winding-up of the entity, raising concerns over operations, user trust, and future growth outlook.
IDFC First Bank (+4.51%): Stock gained after Q4; profit rose 4.9% YoY to ₹318.9 crore, while NII jumped 15.7% to ₹5,677.2 crore. Sharp 40% decline in provisions and improving asset quality (GNPA at 1.61%, NNPA at 0.48%) supported positive sentiment.

Pharma | Nifty Pharma (+2.62%): Index rallied sharply led by Sun Pharma, Divi’s Laboratories, and Cipla. Strong buying was driven by sectoral momentum and positive triggers like Sun Pharma’s global acquisition, lifting overall sentiment.
Consumer Durables | Nifty Consumer Durables (+2.53%): Index rallied after two consecutive sessions of decline, supported by strong buying interest across stocks. Market breadth remained positive with 13 gainers and 2 losers, indicating broad-based strength.
Realty | Nifty Realty (+2.46%): Index surged as all constituents traded in green; led by Anant Raj and Godrej Properties, driven by strong demand outlook, stable rates, and improved sentiment.
Healthcare | Nifty Healthcare (+2.41%): Index gained with broad-based buying, led by Sun Pharma, Divi’s Laboratories, and Fortis Healthcare, driven by defensive demand, strong earnings visibility, export opportunities, and sustained positive sector sentiment.

Technical Level: Nifty opened with a gap-up and continued the rally till close; after last week’s fall, it formed support at 23,950 and resistance at 24,130, sustaining these levels.
Advance-Decline Ratio: Market breadth remained positive, with Advance at 2550 and Decline at 801, reflecting strong participation during the session.
The Big Picture: China has blocked Meta’s $2 billion acquisition of Manus, directing parties to unwind the deal under regulatory laws. The move by National Development and Reform Commission highlights rising scrutiny on cross-border AI investments amid growing geopolitical tensions between China and the U.S.
FII/DII Activity (April 24, 2026):DII bought 4,701 crore, while FII sold 8,828 crore, indicating outflows continued.

IPO Corner: Amba Auto Sales & Services SME IPO opened today, giving investors an opportunity to bid for the issue.
Macro: Japan BoJ Interest Rate Decision & India Manufacturing Production YoY (Mar) due tomorrow, markets cautious
Index Watch: Nifty opened on a positive note above the previous day’s start, indicating early momentum, but selling pressure continued through the session. Despite strong Q4 results, the market struggled to sustain gains, raising uncertainty whether a fresh rally will emerge or consolidation will persist.

Consolidation: In markets, consolidation refers to a phase where prices move within a narrow range after a strong trend, indicating indecision among investors before the next major move.

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