India’s IPO market is witnessing slower activity as investors turn cautious amid global uncertainty. Rising geopolitical tensions and volatile equity markets are affecting participation in new issues.
India’s IPO market is witnessing slower activity as investors turn cautious amid global uncertainty. Rising geopolitical tensions and volatile equity markets are affecting participation in new issues.
NIFTY OUTLOOK: 22819.60 FII -4367.30 cr DII 3566.15 cr
(30th March – 2nd April 2026)
As we discussed in the previous report dated 23rd March 26 market behaviour remained on the expected lines during the week passed by as on Monday 23 Mar 26 nifty start with bearish sentiments which drift down it upto 22471 from there buyers were re strike and nifty were bounce upto 23465. Thus after oscillate both side it gave closing near to its weekly opening i.e. 22819.6.
As per astrology view, some important turning dates are 30th March and 2nd, 7th, 9th, 13th and 15th April 2026.
1. UBS on Coforge
Initiate Neutral, TP Rs 1240
Coforge has consistently delivered strong growth driven by execution, with organic growth of c13-15% over FY24-25 (overall growth of c15-30%)
Estimate revenue CAGR of 15% over FY26-28E
Stock has corrected 35% YTD, with PEG ratio of 0.8x seeming attractive
As per market grapevine, many equity mutual funds delivered negative returns in FY25–26. After sharp declines of 20–90% in many stocks, several investors are reportedly shifting money from equities and mutual funds to bank FD, PPF, debt funds and government small saving schemes. Investor caution has risen sharply after the recent market correction.
1. JPMorgan on GLP-1 in India
GLP-1 not an imminent near-term disruption
Anticipate <1% revenue impact in FY28-30 for F&B companies
Could affect consumption habits and product preferences
Global staples have de-rated in recent years due to low volumes, competition and modern trends
Indian consumer companies should adapt product portfolios
Alert: As per market grapevine, if crude prices do not cool, Nifty 50 may break strong support of 22800 before March-end. Investors may prefer PPF over ELSS in March closing. If crude and gas prices remain high for 5–10 days, inflation may surge and negative impact
Highness Microelectronics IPO, which opened recently, has generated moderate interest among investors. The issue is part of the SME segment and targets niche participation.
Manipal Health Enterprises has filed for a large IPO worth over $1 billion, making it one of the biggest healthcare listings in India. The move highlights strong growth in the healthcare sector.
Sai Parenterals IPO is set to close today, but the issue has received a relatively muted response from investors. Subscription levels remained weak during the initial days.
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