Daily Market News Update — 06th-07th April 2026

Midnight News Update: 06-07 Apr 2026

Indian pharmaceutical exports hit a robust $29 billion in 11 months of FY26, despite trade headwinds. The export surge was led by formulations, biologicals, vaccines, and Ayush products. India remains a major supplier of affordable medicines to the world. This is nearly 5.6% compared to the similar period last year. The Indian pharma industry is valued at $60 billion and likely to more than double to $130 billion by the year 2030. Exports have always remained a key driver of pharma sales, as India made the best of expiring patents to launch comparable pharma equivalents.

India is seeing a surge in data centre demand, as the West Asia crisis is forcing companies to push their data centres farther away. The approach is changing from data proximity to data remoteness. Data centre companies like Yotta have seen a sudden surge in data hosting enquiries in the last four weeks as companies look to hedge against the risks of war. India currently offers nearly twice the data centre capacity for the same investment compared to other hubs in Asia. It is the back-up systems that are being moved by global companies to remote locations like India.

The consensus estimate of economists is converging to status quo in the RBI MPC meeting. The policy meeting began on Monday and will culminate in the announcement of the policy statement on 08-April. Brokerages like Goldman Sachs had hinted at a possible rate hike in April by the RBI as an antidote to oil-driven inflation. The general view is that the RBI may hold rates and focus more on communicating its monetary strategy to the markets. This time around, the markets are expecting some tangible announcements in the RBI policy to stabilize the Indian rupee.

In a ₹200 crore deal, Emami will acquire 100% stake in Axiom Ayurveda. This will also expedite Emami’s foray into the health and wellness beverages segment. Axiom sells aloe vera based beverages. As of date, Emami already holds 63.2% in Axiom Ayurveda, and will soon be taking its stake to 100%. This deal is in sync with the latest trend of shifting towards healthier functional drinks. It is being positioned as a healthier alternative to existing drinks; which are either high on sugar or carbonated. Axiom has a topline of ₹180 crore and is a profitable company.

Moody’s, in its latest sovereign rating update has retained India’s Baa3 rating. However, it has flagged the war in the Middle East as a key emerging risk for the Indian economy. The rating and the stable outlook have been maintained. Moody’s has warned that the war could have the effect of curtailing GDP growth and also spiking inflation. In terms of impact, the war in the Middle East is likely to negatively impact India’s current account deficit, especially the way it has weakened the rupee. Moody’s has also underlined that domestic growth will continue to be robust.

For FY26, auto retail sales touched a record 29.6 million units. The 13.3% yoy growth was largely led by aggressive GST cuts ahead of the festive season last year. Strong rural demand also helped along the way. Unlike the wholesales, the retail sales are reported by FADA based on actual vehicle registrations. Most of the growth in FY26 happened in the second half after the GST cuts gave a big boost to festive sales. The lower GST led to a structural recovery in auto demand, much beyond the seasonal demand. The GST cuts reduces car prices by up to 10% in most cases.

The Supreme Court has refused a stay on the NCLT resolution of Jaiprakash Industries. The dispute came to the fore after the Committee of Creditors (COC) handed the company to the Adani group, although Vedanta had made a higher bid. Vedanta first sought a stay from the NCLAT, and later approached the Supreme Court. However, the Supreme Court has refused to stay the deal, but has asked the NCLAT to hear Vedanta’s challenge plea on priority. While Vedanta had put in a higher bid, the COC had awarded to Adani as they offered a higher upfront cash component.

As artificial intelligence (AI) moves to the critical execution phase, Nomura picked Infy and Coforge as its top picks ahead of Q4 results. In the small cap space, Nomura has picked eClerx. At the same time, Nomura has also upgraded its call on TCS, LTI Mindtree, Mphasis, and Birlasoft from “Neutral” to “Buy.” Nomura expects that the mid-cap IT companies will be performing better than the large caps. Specifically, Nomura is positive on mid-cap IT names like Persistent Systems and Coforge. While rupee weakness will be positive, a global slowdown could impact tech spending.