Top Stories: West Asia crisis lifts oil, Sun Pharma deal, fertiliser prices surge & more – CNBC TV18
Top 10@10 — CNBC-TV18's daily newsletter featuring the top 10 stories on markets, corporate updates, economic insights, and financial highlights — delivered at 10 pmGlobal cues remained tense, with geopolitical risks front and centre. Russian President Vladimir Putin met Iran's Foreign Minister Abbas Araqchi, signalling support while expressing hope for peace. Oil markets reacted swiftly, Brent rose to near $108 a barrel as the Strait of Hormuz stayed shut following stalled US-Iran talks, heightening supply concerns. The impact has spilled into aviation, with rising cancellations and mounting financial strain on airlines.
Markets, however, rebounded sharply. The Sensex jumped 639 points and the Nifty reclaimed 24,100, led by heavyweight buying. Cost pressures are building, with urea prices nearly doubling and FY27 fertiliser subsidy seen rising ~20%. The RBI also unveiled an Expected Credit Loss framework from April 2027, while Skymet flagged a likely on-time or early monsoon alongside persistent heatwave conditions.
On the corporate front, Sun Pharma surged 9% after announcing the $11.75 billion acquisition of US-listed Organon. Gains in Reliance Industries, Infosys, and M&M added to the rally.
Separately, authorities intensified a nationwide crackdown on counterfeit goods across food, medicines, and FMCG.
Sun Pharma shares jump 9% after drugmaker announces Organon deal at $11.75 billion Enterprise Value
India's largest drugmaker, Sun Pharmaceuticals Ltd., has announced on Monday, April 27, that it has signed a definitive agreement to acquire US-listed Organon for sustained, long-term value creation and complementary portfolios that will enhance its business leverage. The stock has jumped 9% in response to the transaction and is among the top Nifty gainer.
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Putin pledges support for Iran in talks with Araqchi in Russia, says he wants peace soon
Russian President Vladimir Putin held talks with Iranian Foreign Minister Abbas Araqchi in St. Petersburg on Monday and told him he hoped the Iranian people would weather what he described as a "difficult period" and that peace would soon prevail.
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Oil prices rise as Strait of Hormuz remains closed after US-Iran talks stall
Brent increased 2.5% to $107.97 a barrel, while West Texas Intermediate was near $96.
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ALSO READ: Iran shares new proposal with US to reopen Strait of Hormuz, delay nuclear talks
Sensex jumps 639 points, Nifty reclaims 24,100 as Reliance Industries, Sun Pharma lead rebound
The equity benchmark indices BSE Sensex and NSE Nifty closed higher on Monday (April 27), snapping a three-session losing streak, with gains led by Reliance Industries, Sun Pharma, Mahindra & Mahindra and Infosys, as buying strength lifted all sectoral indices and market breadth remained firmly positive.
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ALSO READ: Rupee edges higher but pressure from elevated crude persists
West Asia conflict hits flights hard: cancellations surge, airlines lose thousands of crores
India's aviation sector is facing a major disruption as the ongoing West Asia conflict continues to impact flight operations, connectivity, and airline finances.
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Urea prices nearly double amid West Asia crisis; FY27 subsidy seen 20% higher
The Department of Fertilisers on Monday, April 27, said fertiliser prices have surged sharply due to global factors, noting that the "price of urea has almost doubled since the West Asia crisis" while the "price of other fertilisers has also gone up" alongside a spike in gas costs.
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RBI unveils ECL framework for banks from April 2027, tightens NPA and provisioning norms
In a significant overhaul of banking regulation, the Reserve Bank of India (RBI) has introduced a new framework for asset classification, provisioning and income recognition, anchored around a forward-looking Expected Credit Loss (ECL) model. The central bank has simultaneously amended its stressed assets resolution norms to align the entire credit lifecycle — from early warning signals to provisioning and resolution under a unified structure.
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Skymet: Monsoon likely on time or early, heatwave to continue for now
GP Sharma, President – Meteorology & Climate Change at Skymet Weather Services, said heatwave conditions are likely to persist across regions, with limited short-term relief from pre-monsoon activity, while current patterns point to a monsoon that could arrive on time or a few days early
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Also Read: El Niño to trigger hotter summer, raise risk of weak monsoon in India: Skymet
Suspect in Washington dinner shooting set to appear in court
The man accused of shooting a US Secret Service agent as he tried to breach security at a Washington dinner where President Donald Trump was present is expected in court on Monday to face criminal charges.
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Exclusive | India orders nationwide crackdown as fake food, medicines and FMCG seizures surge
India's top regulatory and enforcement agencies have intensified a coordinated crackdown on counterfeit and substandard products, as recent raids across states expose the scale of fake goods infiltrating everyday consumption.
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Also Read: 'Decision on extension…': Pratap Sarnaik shares update on Marathi mandate as auto, taxi unions protest licence fears
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