India is doing so well. The bookmakers aren't considering India as a hot favourite yet. Now the odds is 2.60× for India to win and 3.20× for England to win. I expect India to win this test match. It is too early to predict the outcome, but India might win the match if they don't lose anymore wickets today and play good in the first two sessions of day two. Rishabh Pant has gotten some injuries there, I expect him to be fit within day 2. The condition of the pitch seems batting friendly, draw is the most possible outcome now for this reason.
I think bookmakers are afraid that India may lose momentum during the 2nd innings. They have seen how poorly they played in the 2nd innings and therefore, they aren't confident enough to give high odds to the Indian team. However, this may change quickly if India bat the first two sessions tomorrow and increase their lead to over 400-450.
India has lost 4 wickets for 236 runs. but infact, we can say that they have lost 5 wickets because Rishabh Pant was retired hurt. He was batting well on 31 and it was big blow for the Indian team. This is crucial moment for the Indian team. If they lose some more wickets quickly, they would be on backfoot again.