India Stocks Hit Record Highs, Fueled by RBI, Oil; M&A & Earnings Drive Movers

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AuthorAarav Shah|Published at:
India Stocks Hit Record Highs, Fueled by RBI, Oil; M&A & Earnings Drive Movers
Overview

India's benchmark indices Nifty 50 and Sensex closed sharply higher, marking a five-session winning streak. The rally was fueled by falling crude oil prices and the Reserve Bank of India maintaining repo rates. Several stocks are poised for attention due to significant corporate actions, including acquisitions, planned price revisions, and strong quarterly results.

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Market Rally Drivers

Indian markets showed broad strength on Wednesday, April 08, 2026, with benchmark indices Nifty 50 and Sensex extending their winning streak to five consecutive sessions. The rally was strongly supported by a sharp drop in crude oil prices, linked to reports of a two-week ceasefire between the U.S. and Iran. The Reserve Bank of India also boosted market confidence by keeping repo rates unchanged at 5.25%, maintaining a neutral monetary policy stance.

Key Stock Movers

Redtape Ltd announced it is acquiring the well-known international sports footwear brand SPRANDI for India, Nepal, Bhutan, and Sri Lanka. SPRANDI is an established global brand with strong sales in markets like China and Russia. Redtape plans to launch SPRANDI in India soon through online and retail channels, expecting significant sales volumes. The company's shares closed Tuesday at ₹121.23, up 6.32 per cent.

Hyundai Motor India Ltd plans a price revision of up to 1% across its vehicle portfolio, effective May 2026. Hyundai cited rising input costs for the adjustment. Though Hyundai aimed to absorb costs, escalating expenses made this small price increase necessary. Hyundai Motor India Ltd shares closed at ₹1,778.90, up 4.27 per cent.

P N Gadgil Jewellers Ltd reported strong performance for FY26, with revenue reaching ₹10,744 crore, a 40% year-on-year increase. Growth was driven by a strong fourth quarter, which saw total revenue surge 124% YoY, fueled by robust demand in its retail segment and increased franchise and e-commerce operations. The stock concluded trading at ₹615.95, up 2.81 per cent.

Max Healthcare Institute Ltd's board approved buying a controlling stake in Kalinga Hospital Ltd (KHL), a 250-bed multi-specialty hospital in Bhubaneswar. Max Healthcare plans to acquire approximately 58.39% of KHL. The board also approved loans up to ₹100 crore for KHL's development and guaranteed refinancing of its existing promoter borrowings. Max Healthcare Institute Ltd shares saw a modest gain, closing at ₹941.15, up 0.94 per cent.

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Disclaimer:This content is for educational and informational purposes only and does not constitute investment, financial, or trading advice, nor a recommendation to buy or sell any securities. Readers should consult a SEBI-registered advisor before making investment decisions, as markets involve risk and past performance does not guarantee future results. The publisher and authors accept no liability for any losses. Some content may be AI-generated and may contain errors; accuracy and completeness are not guaranteed. Views expressed do not reflect the publication’s editorial stance.