Stock Market News Live Updates: Nifty, Sensex Open Higher; Asian Paints Leads Gains; Power Grid Lags

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Nifty rose as much as 0.5% to 23503.70 in early trade.

The Sensex jumped up to 0.5%, or 384 points, to 75,981 at the open.

• Nifty 50 was flat, lower by 0.07% or 17 points at 23,362.45 in pre-market trade.
• The Sensex slipped 0.16%, or 120 points, to 74,439.34, signalling a weak start for Indian equities.

June futures for Gold, and July futures for Silver gained 6% on MCX in early trade.

The Indian rupee opened weaker against the US dollar and fell as much as 2 paise to 95.61 in early trade.

Systematix said Dr Reddy’s Laboratories’ Q4 performance was a miss even after adjusting for one-offs, with earnings weighed down by the absence of Revlimid revenue, making the quarter likely a bottom for the company. The brokerage expects a gradual recovery in earnings going ahead, with improvement visible over the coming quarters.

However, it flagged that Cipla’s Q4 earnings are likely to be disappointing due to supply issues related to a key product, while the company is still awaiting critical approvals in the US market.

Within large-cap pharma, it prefers Sun Pharma, Cipla and Dr Reddy’s.

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The NSE Nifty 50 Index finds support in the 23,200-23,000 levels, according to Dhupesh Dhameja, derivatives research analyst at Samco Securities. The index is expected to see further downsides, with the Nifty index logging its worst losing streak since January, owing to weakness in global markets, amid uncertainty and escalation regarding the US and Iran.

The analyst recommended a sell-on-rise strategy. "A decisive follow-through below 23,320 could accelerate downside momentum towards 23,000–22,900, while stability above 23,800 is essential to revive short-term recovery momentum and ease the prevailing selling pressure," he added.

William Lee, Chief Economist and Managing Director at Global Economic Advisors, notes that India is trying to restore confidence in the rupee. He adds that US inflation expectations remain well-anchored. On Trump and Xi's meet, Lee says that  investors are primarily looking at the tech aspect of US-China talks, and that China needs to comes through with big purchases.

AERA has set User development fee (UDF), landing charges, parking charges for 2026-2031 for Noida International Airport (NIA).

For FY27:

• User development fee (UDF) set at Rs 490 for domestic embarking passenger 
• UDF set at Rs 210 for domestic disembarking passenger 
• UDF set at Rs 980 for international embarking passenger
• UDF set at Rs 420 for international disembarking passenger 
• Landing charges for domestic flights Rs 725/MT, Rs 1088/MT for international flights 
• Parking charges free for first 2 hours, Rs 25/MT post 2 hours and Rs 50/MT beyond 4 hours
• UDF to get hiked by 10% every year 
• Alert: NIA to beging commercial ops from 15th June 
• CUTE charges set at Rs 75 for domestic passengers and $1 for international passengers

• Move aimed at conserving forex reserves, protecting CAD amid West Asia-linked global uncertainty
• Elevated crude oil prices and shipping disruptions could pressure inflation, import bill
• Forex resources must be prioritised for crude oil, fertilisers, defence, capital goods
• Govt calls precious metal imports largely consumption and investment driven, with high forex outflow
• Duty hike intended to moderate non-essential imports, not a prohibitory measure
• Move aligned with PM’s call for economic discipline and reducing avoidable foreign expenditure
• Calibrated duty hikes historically used to manage external-sector and CAD pressures
• India opting for moderate price-based disincentives instead of import restrictions
• Gold, silver duties were cut from 15% to 6% in Budget 2024-25 when external conditions were stable

Government sources say, "The measure represents a balanced, proportionate, and nationally responsible response to extraordinary external conditions while maintaining due regard for macroeconomic stability and long-term economic resilience."

Balaji Amines Ltd, The Bombay Burmah Trading Corporation Ltd, Bharti Airtel Ltd, Bharti Hexacom Ltd, CARE Ratings Ltd, Cipla Ltd, Crompton Greaves Consumer Electricals Ltd, DCM Shriram Ltd, DLF Ltd, eClerx Services Ltd, GlaxoSmithKline Pharmaceuticals Ltd, Hindustan Petroleum Corporation Ltd, Inventurus Knowledge Solutions Ltd, Interarch Building Solutions Ltd, JSW Dulux Ltd, Kaynes Technology India Ltd, Kirloskar Brothers Ltd, LIC Housing Finance Ltd, Man Infraconstruction Ltd, Metropolis Healthcare Ltd, NLC India Ltd, Oil India Ltd, Onesource Specialty Pharma Ltd, Paras Defence and Space Technologies Ltd, Power Finance Corporation Ltd, Quality Power Electrical Equipments Ltd, Redington Ltd, Sagar Cements Ltd, Sharda Cropchem Ltd, Signatureglobal (India) Ltd, SKF India Ltd, Suven Life Sciences Ltd, Tourism Finance Corporation of India Ltd, Tube Investments of India Ltd, Tata Motors Ltd, TVS Holdings Ltd, TVS Motor Company Ltd, Zaggle Prepaid Ocean Services Ltd, ZF Commercial Vehicle Control Systems India Ltd are set to report their earnings today.

Berger Paints (Q4, Cons YoY)

• Revenue up 6.1% at Rs 2,868 crore versus Rs 2,704 crore.
• EBITDA up 12.7% at Rs 482 crore versus Rs 427 crore.
• EBITDA margin up 100 bps at 16.8% versus 15.8%.
• Net profit up 27.9% at Rs 335 crore versus Rs 262 crore.
• Note: The board declared a dividend of Rs 4 per share and reappointed Abhijit Roy as MD & CEO for 4 years.

Dixon Technologies (Q4, Cons YoY)

• Revenue up 2.1% at Rs 10,511 crore versus Rs 10,293 crore.
• EBITDA down 7.8% at Rs 408 crore versus Rs 443 crore.
• EBITDA margin down 40 bps at 3.9% versus 4.3%.
• Net profit down 36.0% at Rs 256 crore versus Rs 401 crore.
• Note: The board declared a final dividend of Rs 10 per share.

Neuland Laboratories (Q4, Cons YoY)

• Revenue up 134.8% at Rs 788.7 crore versus Rs 335.8 crore.
• EBITDA up 446.6% at Rs 319.8 crore versus Rs 58.5 crore.
• EBITDA margin up 2310 bps at 40.5% versus 17.4%.
• Net profit up 665.1% at Rs 212.7 crore versus Rs 27.8 crore.
• Note: The board declared a final dividend of Rs 34 per share and announced a Rs 143 crore investment in its Telangana unit.

Tata Power (Q4, Cons YoY)

• Revenue down 12.9% at Rs 14,900 crore versus Rs 17,096 crore.
• EBITDA down 19.9% at Rs 2,599 crore versus Rs 3,246 crore.
• EBITDA margin down 160 bps at 17.4% versus 19.0%.
• Net profit down 4.5% at Rs 996 crore versus Rs 1,043 crore.
• Note: The board declared a final dividend of Rs 2.50 per share.

Torrent Power (Q4, Cons YoY)

• Revenue down 0.8% at Rs 6,406 crore versus Rs 6,456 crore.
• EBITDA up 1.7% at Rs 1,149 crore versus Rs 1,131 crore.
• EBITDA margin up 40 bps at 17.9% versus 17.5%.
• Net profit down 70.0% at Rs 318 crore versus Rs 1,059 crore.
• Note: The board declared a final dividend of Rs 5 per share and approved raising up to Rs 10,000 crore via NCDs.

Stove Kraft (Q4, YoY)

• Revenue up 32.4% at Rs 415 crore versus Rs 313 crore.
• EBITDA up 34.1% at Rs 39.4 crore versus Rs 29.4 crore.
• EBITDA margin up 10 bps at 9.5% versus 9.4%.
• Net profit up 335.7% at Rs 6.1 crore versus Rs 1.4 crore.
• Note: The board declared a final dividend of Rs 3.5 per share.

Cohance Life (Q4, Cons YoY)

• Revenue down 26.3% at Rs 619 crore versus Rs 840 crore.
• EBITDA down 56.9% at Rs 98.7 crore versus Rs 229 crore.
• EBITDA margin down 1140 bps at 15.9% versus 27.3%.
• Net profit down 83.8% at Rs 19.6 crore versus Rs 120 crore.

MTAR Technologies (Q4, Cons YoY)

• Revenue up 67.2% at Rs 306 crore versus Rs 183 crore.
• EBITDA up 81.1% at Rs 61.9 crore versus Rs 34.2 crore.
• EBITDA margin up 150 bps at 20.2% versus 18.7%.
• Net profit up 223.3% at Rs 44.3 crore versus Rs 13.7 crore.

Max Financial Services (Q4, Cons YoY)

• Total income down 12.8% at Rs 10,806 crore versus Rs 12,396 crore.
• Net loss at Rs 26.4 crore versus a profit of Rs 31.3 crore.

Kalpataru (Q4, Cons YoY)

• Revenue up 183.7% at Rs 1,694 crore versus Rs 597 crore.
• EBITDA at Rs 217 crore versus a loss of Rs 19.7 crore.
• Net profit at Rs 200 crore versus Rs 14.1 crore.

Sagility (Q4, Cons QoQ)

• Revenue up 2.7% at Rs 2,024 crore versus Rs 1,971 crore.
• EBITDA down 5.2% at Rs 485 crore versus Rs 511 crore.
• EBITDA margin down 200 bps at 23.9% versus 25.9%.
• Net profit down 3.7% at Rs 258 crore versus Rs 268 crore.

Texmaco Rail (Q4, Cons YoY)

• Revenue down 13.3% at Rs 1,167 crore versus Rs 1,346 crore.
• EBITDA up 9.0% at Rs 106 crore versus Rs 97.7 crore.
• EBITDA margin up 180 bps at 9.1% versus 7.3%.
• Net profit up 45.1% at Rs 57.7 crore versus Rs 39.8 crore.
• Note: The company plans to invest up to Rs 200 crore in its arm over the next 3-5 years.

Inox India (Q4, Cons YoY)

• Revenue up 24.7% at Rs 461 crore versus Rs 369.4 crore.
• EBITDA up 16.7% at Rs 94.7 crore versus Rs 81.1 crore.
• EBITDA margin down 150 bps at 20.5% versus 22.0%.
• Net profit up 14.8% at Rs 75.2 crore versus Rs 65.5 crore.
• Note: The board declared a final dividend of Rs 2 per share.

Pfizer (Q4, YoY)

• Revenue up 6.3% at Rs 629 crore versus Rs 592 crore.
• EBITDA up 3.7% at Rs 236 crore versus Rs 228 crore.
• EBITDA margin down 90 bps at 37.5% versus 38.4%.
• Net profit down 39.6% at Rs 200 crore versus Rs 331 crore.
• Note: The board declared a final dividend of Rs 75 per share.

Gopal Snacks (Q4, YoY)

• Revenue up 29.0% at Rs 409.6 crore versus Rs 317.5 crore.
• EBITDA up 1400% at Rs 31.5 crore versus Rs 2.1 crore.
• EBITDA margin up 700 bps at 7.7% versus 0.7%.
• Net profit at Rs 30 crore versus a loss of Rs 39.5 crore.

Indraprastha Medical (Q4, YoY)

• Revenue up 9.3% at Rs 365 crore versus Rs 334 crore.
• EBITDA down 1.3% at Rs 60.5 crore versus Rs 61.3 crore.
• EBITDA margin down 180 bps at 16.6% versus 18.4%.
• Net profit up 1.7% at Rs 41.7 crore versus Rs 41 crore.

Sai Silks (Q4, YoY)

• Revenue up 5.1% at Rs 419 crore versus Rs 399 crore.
• EBITDA up 4.8% at Rs 61.3 crore versus Rs 58.5 crore.
• EBITDA margin down 10 bps at 14.6% versus 14.7%.
• Net profit up 142.2% at Rs 32.7 crore versus Rs 13.5 crore.
• Note: The company appointed Bharadwaj Rachamadugu as CEO, effective May 12.

Nazara Technologies (Q4, Cons YoY)

• Revenue down 23.5% at Rs 398 crore versus Rs 520 crore.
• EBITDA up 113.8% at Rs 74 crore versus Rs 34.6 crore.
• EBITDA margin up 1190 bps at 18.6% versus 6.7%.
• Net profit up 195.5% at Rs 47 crore versus Rs 15.9 crore.
• Note: Nitish Mittersain has been redesignated as MD & CEO.

Thomas Cook (Q4, Cons YoY)

• Revenue down 10.1% at Rs 1,771 crore versus Rs 1,969 crore.
• EBITDA down 20.3% at Rs 78.4 crore versus Rs 98.3 crore.
• EBITDA margin down 60 bps at 4.4% versus 5.0%.
• Net profit down 40.1% at Rs 38.7 crore versus Rs 64.6 crore.

Religare Enterprises (Q4, Cons YoY)

• Revenue up 20.8% at Rs 2,467 crore versus Rs 2,042 crore.
• EBITDA down 39.9% at Rs 143 crore versus Rs 237 crore.
• EBITDA margin down 580 bps at 5.8% versus 11.6%.
• Net profit down 74.3% at Rs 13.4 crore versus Rs 52.2 crore.

Clean Max Enviro (Q4, Cons YoY)

• Revenue up 25.1% at Rs 557 crore versus Rs 446 crore.
• EBITDA up 4.2% at Rs 268 crore versus Rs 257 crore.
• EBITDA margin down 960 bps at 48.0% versus 57.6%.
• Net profit up 151.8% at Rs 55.4 crore versus Rs 22 crore.

Huhtamaki (Q4, Cons YoY)

• Revenue up 0.5% at Rs 613 crore versus Rs 610 crore.
• EBITDA up 3.1% at Rs 39.9 crore versus Rs 38.7 crore.
• EBITDA margin up 20 bps at 6.5% versus 6.3%.
• Net profit down 2.3% at Rs 25.6 crore versus Rs 26.2 crore.

Sri Lotus Developers (Q4, Cons YoY)

• Revenue up 61.8% at Rs 308 crore versus Rs 190 crore.
• EBITDA up 11.23% at Rs 121.3 crore versus Rs 109 crore.
• EBITDA margin down 1800 bps at 39.4% versus 57.4%.
• Net profit up 11.5% at Rs 95.6 crore versus Rs 85.8 crore.

Ventive Hospitality (Q4, Cons YoY)

• Revenue up 11.6% at Rs 779 crore versus Rs 698 crore.
• EBITDA down 18.9% at Rs 285 crore versus Rs 351 crore.
• EBITDA margin down 1380 bps at 36.6% versus 50.4%.
• Net profit up 79.5% at Rs 230 crore versus Rs 128 crore.

Elantas Beck (Q4, YoY)

• Revenue up 7.8% at Rs 222 crore versus Rs 206 crore.
• EBITDA up 7.4% at Rs 43.4 crore versus Rs 40.4 crore.
• EBITDA margin down 7 bps at 19.51% versus 19.58%.
• Net profit down 5.4% at Rs 31.1 crore versus Rs 32.9 crore.

Dr. Reddy's (Q4, Cons YoY)

• Revenue down 11.5% at Rs 7,546 crore versus Rs 8,528 crore.
• EBITDA down 60.4% at Rs 981 crore versus Rs 2,475 crore.
• EBITDA margin down 1610 bps at 13.0% versus 29.1%.
• Net profit down 86.1% at Rs 221 crore versus Rs 1,593 crore.
• Note: The board declared a final dividend of Rs 8 per share. Global Generics revenue fell 13% YoY to Rs 6,580 crore, with North America sales plummeting 51% to Rs 1,756 crore.

Adani Ports, Vodafone Idea, Texmaco Rail, RVNL, Intellect Design, United Breweries, Puravankara, Interarch Building Products, PNC Infratech, Archean Chemical, and HCLTech are key stocks to watch today.

Jewellery Companies are also in focus as basic Customs Duty on Gold & Silver imports increased to 10% from 5% 

Fractal Analytics, Aye Finance, Pine Labs, Niva Bupa are also in focus on the back of their Lock-in Expiry.

PM Modi has directed that the number of vehicles in his convoy be halved, sources told NDTV. Instructions regarding this have been issued to the Special protection Group (SPG). The PM also stated that the number of electric vehicles (EVs) in the convoy should be increased. However, he specified that no new vehicles should be purchased for this purpose.

Sources also told NDTV that the SPG has already begun implementing these directives. Additionally, steps are being taken to ensure that there is no compromise on the mandatory security guidelines stipulated in the 'Blue Book.' Other ministries are also set to undertake various initiatives aimed at conserving fuel.

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• The MSCI Asia Pacific Index fell 0.5%, led by South Korea.
• Kospi tumbled 2.8% as investors took profits in chip stocks and concerns mounted over labour unrest at Samsung Electronics.
• Samsung's shares dropped as much as 3.9% after wage talks with its union broke down, raising the possibility of a strike.
• Japan's Topix bucked the broader weakness to rise 0.4%.
• Australia's S&P/ASX 200 fell 0.6%.
• Hang Seng futures were little changed, pointing to a muted start in Hong Kong.

GIFT Nifty traded at 23,488, at par with the Nifty 50’s previous close of 23,579.55 on Tuesday.