Government Denies Fuel Price Hike Plans, Urges Public to Avoid Panic Buying The Indian government has reiterated its stance that there are no current proposals to increase retail fuel prices, urging citizens to avoid panic buying amid rising concerns over potential price hikes following the conclusion of elections on May 29, 2026. In a press briefing, Sujata Sharma, Joint Secretary of the Ministry of Petroleum and Natural Gas, emphasized that oil marketing companies maintain sufficient fuel supplies and called for public restraint in purchasing behavior. Sharma clarified that no official plans exist to raise petrol or diesel prices, urging people to disregard rumors circulating about potential increases. The warnings come amid a surge in panic buying across the country, driven by speculation that fuel prices might rise after the elections. A report by Kotak Institutional Equities had previously estimated that global crude oil prices could necessitate a significant increase of Rs25–Rs28 per litre for petrol and diesel. This forecast triggered widespread anxiety, leading to shortages and operational disruptions in several regions. In Andhra Pradesh, rumors of imminent price hikes resulted in panic buying, leaving over 400 petrol pumps dry by Sunday. The situation has also spilled over into neighboring states, with Telangana authorities attributing the closure of fuel stations to the spillover effect of the panic. India’s fuel prices, which are closely tied to international crude markets, have remained elevated since the conflict in West Asia disrupted critical supply routes. The Strait of Hormuz, a vital waterway for India’s energy imports, has been a focal point of the crisis.#andhra_pradesh #telangana #indian_government #sujata_sharma #kotak_institutional_equities
HCL Tech Q4 Preview: Will Growth Surprise Investors After Weak Wipro Earnings? HCL Technologies is set to report its March quarter results, with analysts anticipating a mixed performance. While the company is expected to deliver steady year-on-year revenue growth, a sequential decline is likely due to seasonal softness in its software business and margin pressures from wage hikes and restructuring costs. The results, to be announced on Tuesday, come amid weak earnings from peer Wipro, which has raised questions about the broader IT services sector. Revenue growth for HCL Tech is projected at around 14% year-on-year, based on estimates from seven brokerages, with profit after tax likely to rise approximately 9% YoY. However, sequential performance is expected to weaken, with most analysts factoring in a decline in constant currency (CC) revenue for the quarter. Brokerages such as Emkay, Jefferies, and Kotak Institutional Equities anticipate a 0.8% to 1.7% drop in CC revenues compared to the previous quarter. This decline is primarily attributed to the seasonal slowdown in HCL Tech’s high-margin software business, which typically sees a sharp drop in the March quarter after a strong December period. Jefferies estimates a 1.6% sequential decline in CC revenue, driven by a steep 22% drop in the software segment, partially offset by modest growth of about 1% in the services business. Similarly, Motilal Oswal expects an overall revenue decline of 0.9% QoQ CC, again dragged by a roughly 23% drop in product revenues. Despite this, the services segment, which forms the core of HCL Tech’s business, is expected to remain resilient. Most brokerages are building in 1-1.5% sequential growth in IT services and ER&D, supported by steady deal ramp-ups and stable demand in key verticals such as BFSI and high-tech.#motilal_oswal #wipro #jefferies #kotak_institutional_equities #hcl_tech
L&T shares fall after second price target cut in two days due to West Asia crisis Shares of Larsen and Toubro (L&T) Ltd. dropped nearly 3% on Thursday, March 12, following a second price target cut in two days. The decline came amid concerns over the ongoing West Asia crisis, which has disrupted business operations and investor sentiment. Despite the drop, the stock showed signs of recovery later in the trading session. Brokerage firm Kotak Institutional Equities revised its price target for L&T shares to ₹4,000 per share from ₹4,350, maintaining a 'buy' rating. The revised target suggests a potential 4% upside from the stock’s previous closing price. This follows a similar cut by UBS, which reduced its target price by nearly 8% earlier in the week. Both adjustments reflect growing caution among analysts about the company’s exposure to regional instability. L&T has remained a focal point for investors and analysts since the Iran-Israel-US conflict escalated on February 28. The company’s significant business presence in West Asia has made it vulnerable to disruptions caused by the crisis. According to JM Financial, L&T’s order book exposure to the region stands at 37%, with 33% of its order inflows coming from the first nine months of the current fiscal year. This highlights the company’s reliance on West Asian markets for revenue. Kotak Institutional Equities warned that the crisis could strain L&T’s near-term financials through multiple channels, including delayed projects and reduced customer spending. The firm noted that the long-term impact of the conflict on regional spending patterns remains uncertain, making it difficult to predict the extent of the company’s challenges.#ubs #west_asia_crisis #kotak_institutional_equities #larsen_and_toubro #iran_israel_us_conflict
HDFC Bank shares slide 4% to 52-week low, Kotak upgrades to buy Shares of HDFC Bank closed 2 percent lower at ₹840.70 on Monday, having fallen 4 percent during the trading session to reach a 52-week low of ₹821.50. The decline followed sustained selling pressure in the banking sector, though the stock partially recovered later in the day. Despite the recovery, the stock remained under pressure, reflecting ongoing investor concerns about the bank’s performance. The recent downturn marks a continuation of the stock’s underperformance, driven by worries over margin pressures and challenges in mobilizing deposits. These issues have persisted even as the broader banking sector has remained relatively stable. Analysts have pointed to the bank’s struggles with its liability-side constraints as a key factor affecting its valuation. Kotak Institutional Equities upgraded HDFC Bank to a "buy" rating, setting a target price of ₹1,050. The brokerage attributed this move to the sharp correction in the stock’s price, which has widened its valuation discount compared to its peers. While Kotak acknowledged that the business models and loan portfolios of large banks are broadly comparable, it emphasized that HDFC Bank’s ongoing challenges in managing liabilities justify a lower valuation multiple. The brokerage noted that downside risks at current price levels appear limited, but cautioned that meaningful outperformance would depend on clearer signs of improvement in the bank’s liability franchise. Kotak highlighted that any re-rating of the stock would hinge on rebuilding investor confidence in the bank’s ability to expand its net interest margins. This metric remains a critical focus for the lender as it navigates its financial strategy moving forward.#stock_market #banking_sector #hdfc_bank #kotak_institutional_equities #net_interest_margins
