Newsletter
Trump threatens Iran, Wipro signs $1 billion deal, and Nykaa eyes 82°E.
🗓️ Morning, folks! ☀️
Markets finally got a breather. Both Sensex and Nifty ended Monday on a strong note, climbing a little over 1%.
What lifted the sentiment? Fresh hopes of a possible Iran-US ceasefire, which eased fears around oil supply shocks.
PSU banks and realty led the charge with gains of over 2%. Metals, auto and FMCG followed along, adding to the momentum.
💡 Spotlight: Global uncertainty spikes, so do gold & silver ⬆️
Jewellery stocks rose after the government cut base import prices of gold and silver, making them cheaper to import.
Gold’s import price fell from $1,652 to $1,526 per 10g, while silver dropped from $2,820 to $2,427 per kg.
The winners: Senco Gold jumped 12%, while Kalyan Jewellers, Sky Gold and Diamonds, and Thangamayil Jewellery added 6%, and Titan Company was also up 4%. Mid-tier players like PC Jeweller, PN Gadgil Jewellers, and Vaibhav Global gained 1-3%.
The why: for jewellers, this means lower costs, better margins, and smoother inventory. For consumers, it could make gold and silver more affordable, supporting demand.
Let’s hit it! 💪🏻
1 Big thing: Middle East war enters day 38 ⚠️
It was Day 38 of the Middle East conflict and there’s still no sign of it cooling off. Missiles and explosions continue to fill the skies over Tehran, Jerusalem, and parts of the Gulf, as both sides keep firing back.
What’s going on: the situation is heating up even more. Just ahead of a key Tuesday deadline, US President Donald Trump warned that Iran could be ‘taken out’ in a single night, hinting that a major strike could happen very soon.
He added in a press conference that the war could end quickly, but only if certain conditions are met. At the same time, Iran isn’t backing down.
Tehran has rejected a US-backed ceasefire proposal and instead sent its own response through Pakistan.
Rather than a temporary pause, Iran is pushing for a permanent end to the conflict, laying out a broader 10-point plan that includes regions like Lebanon and Gaza, along with guarantees that fighting won’t restart.
India, meanwhile, is staying actively involved. External Affairs Minister S. Jaishankar has spoken with leaders in Iran and Qatar, as diplomatic efforts continue alongside the escalating conflict.
2. Wipro lands a $1 billion deal 💰
Wipro signed a 8-year contract with Olam Group worth over $1 billion. The stock got a boost on the back of this development.
Olam, a Singapore-based food and agri giant backed by Temasek, operates across the globe with a workforce of nearly 40,000.
So, what’s the plan: Wipro will help overhaul Olam’s operations using a mix of consulting, AI, and its in-house platforms. The aim is to make the business more efficient and resilient.
Wipro will be involved across Olam’s entire ‘farm-to-fork’ chain, from farming and forecasting to trading, supply chains, and even customer engagement.
By the numbers: in the third quarter of the current financial year, Wipro’s performance was mixed. Net profit fell 7% YoY to ₹3,119 crore.
However, revenue grew 5.5% to ₹23,556 crore.
The real highlight is deal wins. Wipro secured multiple global contracts across tech, healthcare, manufacturing, and banking, focused on AI, automation, and modernisation to boost efficiency and growth.
3. Pharma stocks feel the tariff heat❗️
Pharma stocks are under pressure after US President Donald Trump signed an order that could impose tariffs of up to 100% on certain imported drugs.
Market mood: Sun Pharma, IPCA Labs, and Ajanta Pharma slipped on the back of this development.
The deets: the US is targeting patented medicines to reduce reliance on foreign pharma supplies, calling it a national security move.
Companies that agree to US pricing rules and shift manufacturing locally will face zero tariffs. Those that don’t could see tariffs start at 20% and rise to 100% over four years.
The India impact: short-term impact is limited. Indian firms mainly export generic drugs, which are exempt, so business should continue as usual for now.
But in the long run, things could change. Higher tariffs on patented drugs and ingredients may push global companies to move production to the US, potentially affecting India’s role in the global pharma supply chain.
4. Talk of the town: Data centres 🤨
The US is leading the data center race by a huge margin, powering the world’s digital backbone.
India is quickly rising as a key player, building momentum with rapid expansion.
As demand for cloud, AI, and constant connectivity grows, the global map of where data lives is steadily shifting.
5. How Amul built a ₹1 lakh crore empire? 👑
Amul crossed ₹1 lakh crore in turnover.
That’s bigger than HUL (~₹60,000 crore) and even ahead of AWL (~₹63,000 crore). And this isn’t a typical corporate FMCG giant. It’s a cooperative backed by over 36 lakh farmers.
What’s driving it: Amul isn’t growing just by selling more milk. It’s pushing deeper into value-added products like cheese, paneer, probiotics, and protein, where margins are higher.
At the same time, it has expanded distribution aggressively into smaller towns, not just metros.
6. Stocks that kept us interested 🚀
What went up ⬆️
🛢️ Indian Energy Exchange rose 4% after reporting its highest-ever electricity trading volumes for FY26, up 17% YoY.
📈 G R Infraprojects rose intra-day after securing a ₹1,898 crore railway EPC order.
💄 Nykaa rose over 3% after forecasting its strongest revenue growth in 3 years for Q4 FY26, with growth expected in the high-20% range.
What went down ⬇️
📉 Oil stocks like Indian Oil, HPCL, and BPCL, slid 1-2% as crude prices surged past $110 per barrel, hit by a global supply shock.
☄️ Reliance shares fell 3% as the US-Iran conflict disrupted oil supply via the Strait of Hormuz, raising fears of shortages and higher crude prices.
What else are we snackin’ 🍿
📉 Services slow: India’s services PMI dropped to a 14-month low of 57.5 in March as rising cost pressures weighed on growth.
🟢 Green signal: two Indian LPG carriers, Green Sanvi and Green Asha, safely crossed the Strait of Hormuz despite ongoing tensions.
⚖️ SC go-ahead: the Supreme Court allowed Adani Enterprises’ ₹14,543 crore resolution plan for Jaiprakash Associates to proceed, rejecting Vedanta’s challenge.
🚀 Grok push: Banks eyeing SpaceX’s IPO are being asked to subscribe to Musk’s Grok AI, with some already committing millions and integrating it into their systems.
💸 Portfolio boost: Nykaa is in talks to acquire a majority stake in Deepika Padukone’s skincare brand 82°E to boost growth and strengthen portfolio.
That’s a wrap! Don’t let the weekday blues get to you.
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