Banking Stocks Fuel Surge, Govt’s Big Move Ahead!

• The Indian stock market extended its gains for the third straight session on Wednesday, April 16, outperforming most Asian markets, which declined amid rising trade tensions between China and the U.S.

• The rally was mainly driven by banking stocks, fuelled by investor hopes of another rate cut from the RBI after March's retail inflation hit a multi-year low.

• Analysts expect credit growth to improve, supported by the RBI’s dovish approach and the increase in the income tax exemption limit to ₹12 lakh announced in the Union Budget 2025–26.

• PSU banks outshined private lenders, while the IMD’s forecast of an above-normal monsoon for 2025 further boosted market sentiment despite weak global trends.

• In addition to banking, FMCG and oil & gas stocks also contributed to the gains.

IREDA +5.65%

• IREDA shares surged over 9% on strong Q4FY25 results, with net profit rising 49%.

• The state-owned green energy lender posted a profit of ₹501.55 crore for the quarter, up from ₹337.39 crore last year, driven by robust growth in its core lending business. The stock has rallied over 20% in the past month.

Gensol Engineering (5.00%)

• Gensol Engineering shares fell 5% after SEBI issued an interim order restricting the company and its promoters, Anmol Singh Jaggi and Puneet Singh Jaggi, from accessing the equity markets over allegations of fund diversion and misleading disclosures.

• Govt plans $4 billion DLI scheme to boost India’s electronics sector. (CT)

• India may introduce local value-addition criteria for auto parts exports to the EU, UK, and US. (ET)

• NREGS daily wage unlikely to rise significantly. (ET)

There are no mainboard IPOs this week.

M&A / Investments

• UltraTech to buy 26% in AMPIN C&I Power Eight for ₹25.5 crore ($2.9Mn). (ET)

VC