ICICI Prudential Mutual Fund, managing Rs 11.72 lakh crore across 272 funds, reshuffled its top holdings in April, according to Motilal Oswal Financial Services. HDFC Bank emerged as the biggest gainer, with its allocation rising to about 6.7% after adding roughly 2.59 crore shares. ICICI Bank slipped slightly even as shares were added. Meanwhile, RIL and Infosys saw weight reductions, alongside trimming in Bharti Airtel and NTPC. The changes also included select additions to Axis Bank and Maruti Suzuki.
Indian markets extended a corrective phase as major names brought fresh triggers. RIL, IDFC First Bank and Paytm reported results and company updates, while Sun Pharma is preparing a major overseas acquisition. In the power and metals space, NTPC’s nuclear plan, Adani Green’s battery storage push, Coal India’s import cuts, and updates from Hindustan Zinc and HPCL added momentum.
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Reliance Industries’ March quarter brought pressure on oil and gas, but digital, telecom, and retail helped cushion results. Investors are now looking closely at non-oil performance for the next phase of earnings momentum. The company’s new energy GIGA factory is expected to start operating this year, while telecom ARPU inched up and retail grew, though EBITDA gains stayed muted.
Stocks closed lower on Friday as Reliance Industries, HDFC Bank, and Infosys weighed on the benchmarks. Yet a handful of names bucked the trend. Yes Bank rose on expectations of new funding, CG Power gained after launching OSAT, and Relaxo Footwear surged amid renewed optimism around GST developments.
Indian equity markets ended lower on Monday as Reliance Industries, Wipro, and ICICI Bank weighed on benchmarks following Q3 earnings. Trading was turbulent in a set of eight stocks, with sharp swings tied to quarterly results, acquisitions, and guidance updates. Netweb Technologies and Hindustan Zinc rose, while banking and IT names pulled back.
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