Stock Market Crash Highlights: Nifty, Sensex Log Steepest Fall Since March 30 Amid Rising US-Iran Tensions; Rupee Ends At Record Low

The Nifty 50 ended the session down over 1.5%, but held above the 23,800 mark. Titan and InterGlobe Aviation were the top losers on the index, both falling over 5%.

The benchmark underperformed the broader market, with the Nifty MidCap 150 and Nifty SmallCap 250 both closing lower by about 1%. Kalyan Jewellers and Swiggy led losses in the MidCap index, while Gujarat State Petronet and Jyothy Labs were among the top laggards in SmallCap stocks.

All sectoral indices closed in the red except Nifty Pharma and Nifty FMCG. Nifty Realty was the worst performer, down over 3% for the second straight session, led by sharp falls in Aditya Birla Real Estate and Godrej Properties. Nifty Pharma rose about 0.2%, extending gains for a fourth consecutive day, with Abbott and Torrent Pharma among the top gainers.

• Indian equity benchmarks ended the session sharply lower, with the Nifty 50 closing down 1.49% at 23,815.85 and the Sensex falling 1.70% to 76,015.28.
• The Indian rupee weakened further and ended at a record closing low of 95.31 against the US dollar, reflecting pressure from global cues and elevated crude prices.

Most NSE indices traded lower during the session, reflecting broad-based selling across sectors.

The Nifty 50 fell 1.52% to 23,808.65, while the Sensex declined 1.70%. Banking and rate-sensitive sectors led losses, with Nifty Bank down 1.68% and Nifty PSU Bank slipping 2.66%. Nifty Realty dropped 3.15%, while IT, Auto, Energy and Financial Services were also in the red.

On the upside, Nifty FMCG rose 0.83% and Nifty Pharma gained 0.22%, making them the only sectoral indices trading higher.

April mutual fund data showed a net inflow of Rs 3.2 lakh crore, compared with an outflow of Rs 2.4 lakh crore in the previous month. Industry net AUM rose to Rs 81.9 lakh crore from Rs 73.73 lakh crore month-on-month.

Active equity funds saw inflows of Rs 38,440 crore versus Rs 40,450 crore in the prior month. Large-cap inflows stood at Rs 2,525 crore, small-cap at Rs 6,886 crore and mid-cap at Rs 6,551 crore. Gold ETFs recorded inflows of Rs 3,040 crore, while sectoral and thematic funds saw Rs 1,949 crore of inflows.

Futures tied to the Dow Jones Industrial Average were flat in early trade. S&P 500 futures were down nearly 0.1%, while Nasdaq 100 futures slipped about 0.13%, indicating a cautious start for US markets.

• Indian equity benchmarks remained under pressure, with the Nifty 50 down 1.49% at 23,816.35, shedding about 360 points.
• The Sensex fell 1.70% to 76,017.41, down around 1,311 points, reflecting broad-based selling during the session.

• Sasken Technologies shares rose about 20%, marking the biggest intraday move in a year, after the company reported strong FY26 and Q4FY26 earnings.
• For FY26, revenue more than doubled to Rs 1,113.16 crore, EBIT rose sharply to Rs 49.42 crore and net profit increased to Rs 53.92 crore. In Q4FY26, consolidated revenue jumped 125% year-on-year to Rs 334 crore, EBITDA rose 363% to Rs 34.3 crore and net profit increased 127% to Rs 26.9 crore.

SEBI, in a consultation paper, proposed reducing alternative investment fund scheme launch timelines to 10 working days from 30 and introducing a ‘green channel’ mechanism for faster approvals.

The regulator proposed immediate launch for AIF schemes meant only for accredited investors, a lighter compliance framework for such funds, and direct filing of private placement memoranda with SEBI. Merchant banker intermediation may be removed for accredited investor and angel funds, with post-facto scrutiny to continue. SEBI cited rapid growth in the AIF industry, rising commitments and pending scheme applications as reasons for the proposals.

• Mold-Tek Packaging reported a 26.9% year-on-year rise in consolidated net profit for Q4 at Rs 20.6 crore. Revenue increased 17.4% to Rs 238 crore.
• EBITDA rose 25% to Rs 47.9 crore, with margin improving to 20.1% from 18.9% a year earlier.

JTL Industries posted a sharp year-on-year increase in Q4 consolidated revenue, which rose 47.5% to Rs 693 crore from Rs 469 crore.

EBITDA stood at Rs 57.7 crore compared with Rs 17.8 crore a year earlier, with margin improving to 8.3% from 3.9%. Net profit rose to Rs 34.4 crore from Rs 16.8 crore.

IT employees’ union NITES has written to the Labour Ministry, calling Prime Minister Narendra Modi’s appeal a national call for collective action to reduce fuel consumption.

NITES urged the ministry to issue an advisory to IT companies to adopt work-from-home practices, saying remote work can significantly cut fuel usage, reduce long commuting hours in metros and serve the national interest, citing the sector’s effective experience with work-from-home during the pandemic.

Canara Bank reported modest growth in net interest income in Q4, though it declined sequentially. Margins improved, supported by a lower cost of funds, while advances growth was led by retail and MSME segments.

Non-interest income fell sharply due to lower treasury income, and operating profit declined despite controlled operating expenses. Lower provisions helped reduce credit costs, while asset quality improved, with better trends in SMA1 and SMA2 accounts.

• European equity markets traded mixed in early trade. France’s CAC 40 slipped 0.75%, while Germany’s DAX edged up 0.07%.
• Italy’s FTSE MIB rose 0.31% and the UK’s FTSE 100 gained 0.29%. The broader STOXX Europe 600 was largely flat.

Sources have told NDTV Profit have India is planning to hike duties for gold and silver just yet, even after PM Modi's plea to citizens, urging them to not haul gold unnecessarily. 

An important development market participants should note. The Association of Mutual Funds in India (AMFI) call, initially scheduled for 2 pm, has been delayed to 3:30 pm, just around market close. It is unusual for AMFI to hold a call this late, but the mutual fund body has cited an internal meeting for the delay. 

Japan benchmark Nikkei 225 Index fell ​almost half a percent to closer lower at 62,417.88, erasing an earlier gain to 63,385.04 in the session.

PVR Inox reported a consolidated net profit of Rs 187 crore in Q4, compared with a loss of Rs 125 crore a year earlier. Revenue rose 25.8% year-on-year to Rs 1,547 crore.

EBITDA increased 56.1% to Rs 452 crore, with margin improving to 29.2% from 23.5% in the year-ago quarter.

MoSPI Secretary Saurabh Garg said the creative economy could become a key driver in India’s push towards becoming a developed economy, speaking at the CII Summit in Delhi.

He said the ministry hopes to measure the creative economy in a more comprehensive manner going forward, according to Informist.

• UPL reported an 18.4% year-on-year rise in consolidated net profit for Q4 at Rs 1,061 crore, while revenue increased 17.7% to Rs 18,335 crore.
• EBITDA rose 23.6% to Rs 4,026 crore, with margin improving to 22% from 20.9% a year earlier. The company reported an exceptional loss of Rs 16 crore, compared with a loss of Rs 275 crore a year ago, and declared a dividend of Rs 6 per share.

UPL said it expects revenue growth of 10–14% in Q1 FY27. The company also guided for EBITDA growth in the range of 14–18% for the quarter.

• Futures and options data showed fresh long build-up in Tata Consumer Products and Hyundai during the session.
• Short build-up was visible in Kalyan Jewellers and Titan, while ABB and Hitachi Energy saw long unwinding. Vodafone Idea and Coforge witnessed short covering, indicating buying interest amid earlier bearish positions.

• Shyam Metalics reported a strong sequential performance in Q4, with consolidated revenue rising 18.5% to Rs 5,240 crore and EBITDA increasing 49.2% to Rs 727 crore. EBITDA margin improved to 13.9% from 11%.
• Net profit rose 61.9% quarter-on-quarter to Rs 319 crore. The board approved capex of Rs 900 crore for the Kharagpur furnace and Rs 1,800 crore for the Sambalpur unit, and declared a final dividend of Rs 2.70 per share.

• Road Transport Minister Nitin Gadkari said he supports Prime Minister Narendra Modi’s appeal to conserve petrol and diesel in the national interest.
• Speaking to NDTV, Gadkari urged greater use of public transport and said one-person vehicles should be avoided to help save fuel.

• Sources told NDTV Profit that OYO is likely to receive final approval from the Securities and Exchange Board of India for its initial public offering this week.
• The company is looking to complete the listing in the second half of 2026. The IPO size is expected to be reduced to about Rs 6,500 crore, down from earlier estimates of around Rs 8,400 crore.

• Markets remained under pressure around midday amid uncertainty over US–Iran ceasefire developments, elevated crude prices and a weaker rupee. Rising bond yields and a jump in India VIX added to risk-off sentiment.
• Nifty support is seen at 23,800–23,850, while Bank Nifty support lies in the 54,000–54,500 zone. Foreign investors are expected to continue selling, with focus also on Q4 earnings from Indian Hotels, JSW Energy and UPL.

• DB Corp reported a 18.9% year-on-year rise in consolidated net profit for Q4 to Rs 62.2 crore. Revenue increased 5.2% to Rs 576 crore.
• EBITDA rose 26.4% to Rs 104 crore, with margin expanding to 18.1% from 15.1% a year earlier. The company also reappointed Sudhir Agarwal as Managing Director for a further five years.

• Most sectoral indices traded lower, led by Nifty Realty, which fell about 2.3%. Nifty PSU Bank declined around 1.6%, while Nifty Consumption, Oil & Gas, Energy and Auto were down between 1.4% and 1.5%.
• Nifty Bank, India Defence, Media and Financial Services also traded lower. On the upside, Nifty Pharma was the top gainer, up about 0.5%, while Nifty IT and FMCG were marginally higher.


 

Pharma stocks showed mixed performance in trade. Biocon rose about 3.9%, followed by Piramal Pharma up 3.5%, Laurus Labs higher by 3.5%, Abbott up over 3% and Torrent Pharma gaining nearly 3%.

On the downside, Lupin fell over 5%, Cipla slipped about 1.9%, while Glenmark, Ipca Labs and Dr Reddy’s Laboratories traded marginally lower.

The travel industry said it supports Prime Minister Narendra Modi’s appeal to reduce non-essential foreign leisure travel amid global economic uncertainty and pressure on foreign exchange.

Industry body FAITH said international airfares have risen sharply, with Europe fares up 25–30% and several eastern destinations higher by 15–20%. It added that domestic tourism is seeing higher enquiries for destinations such as Kashmir, Munnar, Kodaikanal, Shillong and Gangtok. Tourism ministry data showed 3.4 crore Indians travelled abroad in 2025, including 1.4 crore for leisure.

Top government sources said the Centre aims to build a nationwide voluntary public movement to help India manage global economic disruptions and energy market volatility.

The push seeks up to a 20% reduction in domestic fuel demand through behavioural changes, including greater use of public transport, car-pooling, EVs, rail freight and work-from-home. The move comes amid high crude prices, supply disruptions and geopolitical tensions, with several countries exploring similar demand-management steps.

Speaking at the CII Business Summit, Gautam Adani said India must prepare now for artificial intelligence and data centres, adding that the country’s path will differ from the US and China.

He said energy and intelligence are becoming inseparable, data is being treated as a national resource, and AI advancement cannot depend on foreign chips. Adani added that energy security and data security will shape future supply chains and national power, and nations dependent on others for energy cannot be self-reliant.

• IT stocks traded mixed during the session. Coforge led gains, rising about 0.6%, followed by Infosys up 0.5%, TCS higher by 0.4% and Tech Mahindra up 0.3%.
• HCLTech traded marginally higher, while Oracle Financial Services Software fell about 0.7%. Mphasis, Persistent Systems and Wipro were down marginally.


 

• Most sectoral indices traded in the red, led by sharp losses in Nifty Realty and Nifty PSU Bank, which fell about 2.3% and 1.7%, respectively. Nifty Consumption, Auto and Energy also declined between 1.5% and 1.6%.
• Nifty IT, FMCG and Services traded flat to marginally lower. Nifty Pharma was the only sector in the green, up about 0.7%, while Nifty Metal was marginally lower.


 

On the Nifty 50, Tata Consumer Products was the top gainer, rising about 3.7%. Sun Pharma, Max Healthcare, Coal India and Nestle India were also trading higher.

Titan was the worst performer, falling over 6%. InterGlobe Aviation, SBI, Bharti Airtel and Eternal were among other major losers on the index.

Shares of airline companies declined in trade. InterGlobe Aviation fell about 4.8%, while SpiceJet slipped around 2.4%, as pressure continued on travel-related stocks during the session.

• As many as 13 stocks touched fresh 52-week lows during the session, based on exchange data.
• Names included ACSTech, Bulkcorp, DIL, Goldkart, Gradiente, NEAGI, OMPower, SAIFL, Sonal, Value360, Vertexplus, Wakefit Innovations and Womancart, indicating continued pressure in select small- and micro-cap stocks.

• Shares of food delivery and dining-related companies declined in trade. Swiggy fell about 4.5%, Barbeque Nation slipped over 4%, and Eternal dropped nearly 3.5%.
• Westlife Foodworld traded around 2% lower, while Jubilant FoodWorks was down about 1.7% during late morning deals.


 

Indian equity benchmarks remained under pressure by late morning trade. The Nifty 50 was down 1.19% at 23,888.20, while the Sensex slipped 1.33% to 76,296.18, down about 1,032 points.

• Suzlon Energy and Titan Company featured among stocks witnessing fresh short additions in the futures market.
• Both counters recorded price declines alongside rising open interest, indicating fresh bearish positioning.
• HAL and ABB also remained among the top fresh short candidates during the session.

• MCX futures featured prominently in the accumulation list after price gains were accompanied by rising open interest.
• The stock advanced more than 1% while open interest increased over 24% in the July futures contract.
• Tata Consumer Products and Laurus Labs also witnessed accumulation trends in the futures segment.

• Hindustan Aeronautics Ltd. led the fresh shorts list after open interest surged more than 500% alongside a decline in futures price.
• ABB, Titan and Suzlon Energy also witnessed fresh short build-up in the derivatives segment.
• The trend reflected renewed bearish positioning in select capital goods and industrial counters.

• Persistent Systems recorded strong derivatives activity with Put open interest rising 189.48% since the last expiry.
• Call open interest in the stock also increased 233.16%, while total derivatives open interest climbed 86.76%.
• The stock remained among the most active technology counters in the derivatives segment.

• Short covering activity emerged in Hyundai Motor India and Bank of India futures during the latest session.
• Both stocks recorded price gains while open interest declined sharply, signalling closure of bearish positions.
• L&T, Fortis Healthcare and Infosys also featured in the short covering list.

• Rail Vikas Nigam Ltd. and BSE appeared among the leading liquidation candidates in the futures segment.
• Both stocks recorded price declines alongside falling open interest, indicating unwinding of long positions.
• Persistent Systems, RBL Bank and Hindustan Unilever also featured in the liquidation list.

• Tata Consumer Products featured among the top accumulation candidates in the futures segment during the latest session.
• The stock rose more than 6% alongside a 26.67% increase in open interest.
• MCX and Max Healthcare also witnessed fresh accumulation trends with simultaneous price and open interest gains.

• Godrej Consumer Products recorded one of the sharpest increases in Call open interest among stock derivatives.
• Call open interest surged 1,059.11% since the last expiry, while Put open interest climbed 633.21%.
• The stock’s total derivatives open interest rose nearly 89.5% during the period.

• Open interest data since the last expiry showed Wipro’s total derivatives open interest rising 136.83%.
• Call open interest climbed 155.37%, while Put open interest rose 101.26%.
• Persistent Systems and Godrej Consumer Products also recorded strong growth in derivatives activity during the period.

• Bank Nifty monthly options data showed the 54,000 Put strike attracting one of the strongest open interest buildups.
• The strike held the highest Put open interest concentration in the monthly series.
• Meanwhile, traders also added fresh Call positions at the 55,000 strike, indicating a broader trading range.

• Bank Nifty weekly options data showed the 55,000 strike recording the highest Call open interest addition during the session.
• The strike added nearly 1.7 lakh fresh Call contracts, while total Call open interest also stayed elevated.
• Put positioning remained concentrated around the 55,000 and 54,000 strikes.

• Nifty monthly options data showed the 23,500 Put strike holding one of the highest Put open interest concentrations.
• Fresh Put additions at the strike remained elevated alongside strong overall Put open interest distribution.
• The 24,000 strike also continued to attract aggressive Put positioning in the monthly series.

Kenneth Andrade of Old Bridge Mutual Fund told NDTV Profit that cash flows across industries remain strong and select opportunities are emerging for long-term investment.

He said some corporates are positioned to handle input cost inflation, leadership within sectors is changing, and market expectations may need to be deferred to next year. Andrade added that there is no resolution yet to the Middle East conflict and said he expects the Nifty to hold around 21,000 on the downside.

• Nifty weekly options data showed the 24,000 Call strike witnessing the largest fresh open interest addition during the latest session.
• The strike added more than 16 lakh Call contracts, while total Call open interest at the level rose above 18 lakh contracts.
• Fresh additions were also visible at 23,900 and 24,100 strikes, signalling active resistance positioning.

• Open interest data since the last expiry showed Nifty 50 total open interest rising 142.04%, led by aggressive additions in Call contracts.
• Call open interest climbed 175.44%, while Put open interest increased 119.44%, reflecting elevated derivatives participation ahead of expiry.
• Nifty Fin Service recorded the sharpest jump in Call open interest growth among index derivatives.

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Value360 was discovered at a price of Rs 78.40 during the pre-market session.

Shares of travel and tourism-related companies declined after Prime Minister Narendra Modi urged citizens to avoid unnecessary foreign travel to help conserve foreign exchange amid global uncertainty.

Yatra Online fell over 5%, Thomas Cook slipped about 4.5%, TBO Tek dropped nearly 3.8%, Easy Trip declined over 3%, while IRCTC traded nearly 2% lower in early deals.

• Shares of fertiliser and chemical companies declined after Prime Minister Narendra Modi urged farmers to cut dependence on imported chemical fertilisers to reduce pressure on foreign exchange.
• Tata Chemicals fell about 2.5%, Deepak Fertilisers dropped over 2.3%, GHCL slipped more than 2%, while JG Chemicals, Andhra Sugar and Thirumalai Chemicals also traded lower. UPL traded marginally higher.


 

Shares of jewellery companies declined after Prime Minister Narendra Modi urged citizens to avoid buying gold for weddings for a year amid pressure from rising global energy prices.

Sky Gold fell about 11%, Senco Gold declined over 10%, Kalyan Jewellers dropped more than 8%, while Titan, Thangamayil and Tribhovandas Bhimji Zaveri were down between 5% and 6% in early trade.

• Hyundai Motor India shares rose as much as 4% to Rs 1,920.20 despite Q4FY26 results missing estimates, aided by management guidance and brokerage commentary.
• The company reported a 5.4% year-on-year rise in revenue to Rs 18,916 crore, while EBITDA fell 22.4% to Rs 1,966 crore and margin narrowed to 10.4%. Net profit declined 22.2% to Rs 1,256 crore. Management guided for 8–10% domestic and export volume growth and FY27 EBITDA margin of 11–14%, and announced two new model launches in FY27 along with capacity expansion plans.

• Tata Consumer Products shares rose as much as 5% to Rs 1,231 after the company reported Q4FY26 results that beat estimates.
• The company posted a 17.9% year-on-year rise in revenue to Rs 5,434 crore and a 27.6% increase in EBITDA to Rs 792 crore, with margin expanding to 14.6%. Net profit rose 21.4% to Rs 419 crore. Brokerages maintained ‘Buy’ ratings, citing strong India business volumes, growth in key segments and guidance for further margin expansion in FY27.

Only three stocks were trading in the green on the Nifty in early deals. Tata Consumer Products led gains, followed by Max Healthcare and Apollo Hospitals, while the rest of the index constituents declined.

The Nifty Bank index traded lower in early trade, down about 1.13% at around 54,683. The index moved between an intraday high of 54,873.65 and a low of 54,600.25 in the opening minutes.

The Nifty Bank index traded lower in early trade, falling about 1.13% to around 54,683. The index moved in a narrow range after opening, with an intraday high of 54,873.65 and a low of 54,600.25.

• Shares of oil marketing companies declined in early trade amid a rise in crude oil prices.
• Indian Oil Corp fell about 2.1%, Hindustan Petroleum slipped nearly 2%, and Bharat Petroleum dropped around 1.9%, as higher crude prices weighed on sentiment.
  

   

 

Indian equity benchmarks opened sharply lower. The Nifty fell as much as 1.15% to 23,897, while the Sensex dropped 1.22%, or about 944 points, to 76,384.65.

Key events to track today include April AMFI data, the CII annual general meeting and US home sales data. Q4 earnings are due from Indian Hotels, JSW Energy and UPL, while Easy Trip Planners, Shriram Pistons & Rings and Affle 3i have fundraising plans. Sector-specific updates include Karnataka’s alcohol policy, expected US tariff refunds and anchor lock-in expiry at Aequs.

• Indian equity benchmarks traded lower in pre-open deals, with the Nifty slipping below the 24,000 mark and the Sensex down over 400 points.
• Brent crude traded above $104 per barrel amid rising tensions between the US and Iran, adding pressure to market sentiment.

The Indian rupee opened weaker against the US dollar and fell as much as 43 paise to 94.91 in early trade.

Brokerage views on Swiggy remained mixed after Q4FY26, with food delivery performance holding up while quick commerce trends softened.

• Macquarie upgraded Swiggy to ‘Neutral’ after the stock fell about 30% from IPO levels, citing better food delivery momentum but slower Instamart growth and muted dark store additions.

• Nomura, UBS, Citi and Jefferies retained ‘Buy’ ratings but cut target prices, flagging strong food delivery growth, gradual margin improvement and elevated losses in quick commerce.

• Morgan Stanley maintained ‘Equal Weight’, pointing to weaker quick commerce momentum and limited near-term visibility on contribution margin breakeven, while food delivery performance remained steady.

• HSBC retained its ‘Buy’ rating and raised the target price to Rs 4,930, citing jewellery business performance and raised FY27–28 EPS estimates by 3–5%. J.P. Morgan upgraded Titan to ‘Overweight’ and raised the target price to Rs 5,400.

• Goldman Sachs maintained ‘Buy’ and raised the target price to Rs 5,400, while Citi retained ‘Neutral’ and raised the target price to Rs 5,075, flagging pressure on jewellery margins due to higher bullion prices.

• Brokerages said jewellery demand supported revenue growth, while margin trends reflected bullion price movements, product mix and competitive intensity.

According to Devarsh Vakil, Head of Prime Research at HDFC Securities, global markets ended last week at record highs, led by gains in the S&P 500 and Nasdaq on strong US earnings and higher-than-expected job additions, while energy stocks outperformed amid a rise in crude oil prices above $105 per barrel.

He said Indian benchmarks closed the week lower, with the Nifty 50 down about 0.6% and the Sensex falling around 0.7%, as profit booking in heavyweight stocks and continued foreign outflows weighed on sentiment. Vakil added that rising crude prices and global geopolitical tensions are adding pressure, while recent remarks by PM Modi urging restraint on fuel use, gold purchases and non-essential foreign travel highlight concerns around India’s external balances.

Goldman Sachs said foreign ownership in Indian equities has fallen to historical lows and foreign selling may be close to exhaustion, with downside risk from incremental outflows seen at $4–5 billion.

The brokerage said foreign flows may not return immediately even if oil prices fall, citing low visibility on earnings recovery and less attractive risk-reward versus North Asia. It added that stocks with low foreign ownership and positioning could outperform when sentiment improves, and reiterated a positive view on select financials and staples.

Brokerages flagged margin pressure at Bank of Baroda after its Q4FY26 earnings, while noting support from lower costs, tax refund interest, recoveries and one-off items.

• Macquarie maintained its ‘Neutral’ rating with a target price of Rs 280. It said profit beat estimates due to lower operating costs, while near-term margins may face pressure from deposit costs.

• UBS maintained its ‘Buy’ rating with a target price of Rs 350. It said profit beat estimates due to non-core items, while loan growth remained strong at 16.2% year-on-year.

• CLSA maintained its ‘Outperform’ rating with a target price of Rs 335. It cited strong loan growth, stable asset quality, floating provisions of Rs 1,500 crore and lower fee income.

• Citi maintained its ‘Buy’ rating and cut the target price to Rs 340 from Rs 360. It said profitability was helped by one-offs, while core margin trajectory remained under pressure.

Brokerages largely retained positive ratings on State Bank of India after Q4FY26, while highlighting pressure on net interest margins.

• Citi maintained its ‘Buy’ rating with a target price of Rs 1,230. It said NIM contracted due to repricing of EBLR and MCLR loans and a higher floating-rate mix, and cut earnings estimates by 3–4% for FY27–FY28.

• Jefferies maintained its ‘Buy’ rating with an unchanged target price of Rs 1,300. It said the weak quarter was temporary, expects margins to stabilise in FY27, and sees loan growth sustaining at 13–14%.

• J.P. Morgan maintained ‘Overweight’ and cut its target price to Rs 1,225. It cited lower yields on repo-linked loans as a drag on margins, while asset quality remained stable.

• CLSA maintained ‘Outperform’ with a target price of Rs 1,275, flagging a sharp NIM miss but steady asset quality and strong loan growth.

• HSBC maintained ‘Buy’ and raised its target price to Rs 1,170. It said margins remain key for re-rating and cut FY27–FY28 EPS to reflect NIM pressure.

• Macquarie maintained ‘Outperform’ with a target price of Rs 1,150. It said earnings missed estimates due to weak margins and trading losses, while asset quality remained stable.

• Urban Company’s Q4FY26 consolidated revenue rose 42.6% year-on-year to Rs 426 crore. EBITDA loss widened to Rs 114 crore from Rs 9.9 crore, while net loss stood at Rs 161 crore against Rs 2.8 crore a year earlier.
• The review said net transaction value rose 42%, led by growth in the core India, Native and international businesses. The management reiterated guidance for consolidated adjusted EBITDA breakeven by the third quarter of FY28.

• Tata Consumer Products’ Q4FY26 consolidated revenue rose 17.9% year-on-year to Rs 5,434 crore, while EBITDA rose 27.6% to Rs 792 crore. EBITDA margin expanded to 14.6% from 13.5%, and net profit rose 21.4% to Rs 419 crore.
• Goldman Sachs maintained its ‘Buy’ rating and raised the target price to Rs 1,450 from Rs 1,400. HSBC maintained ‘Buy’ and cut the target price to Rs 1,380 from Rs 1,390, while Jefferies kept its ‘Buy’ call and raised the target price to Rs 1,450 from Rs 1,310.

• ABB India’s Q1CY26 revenue rose 5.8% year-on-year to Rs 3,184 crore, while EBITDA fell 27% to Rs 408 crore. EBITDA margin narrowed to 12.8% from 18.6%.
• Net profit stood at Rs 1,784 crore, compared with Rs 475 crore a year earlier. The review said execution was hit by West Asia disruptions, commodity inflation and a weaker product mix, while order intake rose 25% to Rs 4,280 crore.

Bajaj Healthcare’s Q4FY26 consolidated revenue fell 0.9% year-on-year to Rs 1,530 crore, while EBITDA rose 1.2% to Rs 256 crore. EBITDA margin stood at 16.7% against 16.4%.

The company reported a net loss of Rs 23 crore against a profit of Rs 11 crore a year earlier. The review cited pricing pressure in domestic APIs, higher raw material costs and income reversal from a Middle East client after project cancellation.

• Brokerages maintained positive ratings on State Bank of India after its Q4FY26 earnings, while flagging pressure on margins.

• Citi retained its ‘Buy’ rating with a target price of Rs 1,230. It said net interest margin contracted due to repricing of external benchmark-linked and MCLR loans, and a higher share of floating-rate loans.

• J.P. Morgan maintained its ‘Overweight’ rating and cut its target price to Rs 1,225 from Rs 1,260. It said SBI’s fourth-quarter results showed growth in advances and stable asset quality.

• Macquarie maintained its ‘Outperform’ rating with a target price of Rs 1,150. It said profit missed estimates due to weak margins and trading losses.

• SBI’s Q4FY26 net profit rose 5.6% year-on-year to Rs 19,684 crore, while net interest income rose 4.1% to Rs 44,380 crore. Gross NPA stood at 1.49% against 1.57% sequentially.

Aditya Infotech, Dalmia Bharat, Prime Focus, JSW Infrastructure, Lemon Tree Hotels, E2E Networks, Fino Payments Bank, ABB India, Alkem Laboratories, NHPC, Bank of Baroda, IRB Infrastructure, Tata Consumer Products, JSW Steel, Mahindra & Mahindra, Bajaj Finserv, PB Fintech, GHV Infra, Sambhv Steel, CMS Info Systems and Reliance Communications are among stocks in news.

• Aditya Infotech received an administrative warning letter from SEBI for compliance lapses under insider trading regulations. Dalmia Bharat denied social media reports linked to an SFIO fraud case and said it operates in compliance with applicable laws.

• JSW Infrastructure filed a plea in the Himachal Pradesh High Court against demand notices issued by state authorities. Alkem Laboratories said the USFDA completed an unannounced inspection at its Taloja CRO facility with no Form 483 issued.

• Fino Payments Bank reported 9% growth in accounts opened in April, while average total deposits rose 13% to Rs 2,801 crore. Bank of Baroda will raise up to Rs 6,000 crore through Tier 1 and Tier 2 bonds.

• GHV Infra received a letter of intent worth about Rs 7,000 crore for EPC works at the Cameroon Tyres Factory Project. CMS Info Systems received a Rs 400 crore service order from HDFC Bank for ATM managed services.

• Mahindra & Mahindra reported 8.7% year-on-year growth in April production and 12.6% growth in sales. IRB Infrastructure Developers said April toll collections rose 23.6% year-on-year to Rs 795 crore.

• Reliance Communications said the CBI conducted a seizure operation at its Navi Mumbai office and that business operations continue as normal. A separate update said PNB classified Reliance Telecom’s loan account as fraud and will report the classification to the RBI.

Hyundai Motor India

• Q4FY26 consolidated revenue rose 5.4% to Rs 18,916 crore from Rs 17,940 crore a year earlier.
• EBITDA fell 22.4% to Rs 1,966 crore from Rs 2,532 crore. Margin stood at 10.4% against 14.1%.
• Net profit fell 22.2% to Rs 1,256 crore from Rs 1,614 crore. The company declared a final dividend of Rs 21 per share.

Urban Company

• Q4FY26 consolidated revenue rose 42.6% to Rs 426 crore from Rs 298 crore a year earlier.
• EBITDA loss stood at Rs 114 crore against a loss of Rs 9.9 crore.
• Net loss stood at Rs 161 crore against a loss of Rs 2.8 crore.

JSW Infrastructure

• Q4FY26 consolidated revenue rose 18.6% to Rs 1,522 crore from Rs 1,283 crore a year earlier.
• EBITDA rose 20% to Rs 769 crore from Rs 641 crore. Margin stood at 50.5% against 50%.
• Net profit fell 17.9% to Rs 418 crore from Rs 509 crore.

Swiggy

• Q4FY26 consolidated revenue rose 44.7% to Rs 6,383 crore from Rs 4,410 crore a year earlier.
• EBITDA loss stood at Rs 697 crore against a loss of Rs 962 crore.
• Net loss stood at Rs 800 crore against a loss of Rs 1,081 crore. Losses were higher than Street estimates.

Bank Of Baroda

• Q4FY26 standalone net interest income rose 9% to Rs 12,494 crore from Rs 11,494 crore a year earlier.
• Operating profit rose 11.5% to Rs 9,069 crore from Rs 8,132 crore. Net profit rose 11.3% to Rs 5,616 crore from Rs 5,048 crore.
• Gross NPA stood at 1.89% against 2.04% sequentially. Net NPA stood at 0.45% against 0.57%. The bank declared a dividend of Rs 8.5 per share for FY26.

Tata Consumer Products

• Q4FY26 consolidated revenue rose 17.9% to Rs 5,434 crore from Rs 4,608 crore a year earlier.
• EBITDA rose 27.6% to Rs 792 crore from Rs 621 crore. Margin stood at 14.6% against 13.5%.
• Net profit rose 21.4% to Rs 419 crore from Rs 345 crore. The company declared a dividend of Rs 10 per share. Earnings beat Street estimates.

ABB India

• Q4FY26 standalone revenue rose 5.8% to Rs 3,184 crore from Rs 3,010 crore a year earlier.
• EBITDA fell 27% to Rs 408 crore from Rs 560 crore. Margin stood at 12.8% against 18.6%.
• Net profit stood at Rs 1,784 crore against Rs 475 crore. Profit beat estimates, while EBITDA and margin missed estimates.

Bank Of India

• Q4FY26 standalone net interest income rose 11% to Rs 6,730 crore from Rs 6,063 crore a year earlier.
• Net profit rose 14.8% to Rs 3,016 crore from Rs 2,626 crore.
• Gross NPA stood at 1.98% against 2.26% sequentially. Net NPA stood at 1.01% against 0.96%. The bank declared a dividend of Rs 4.65 per share.

ArisInfra Solutions

• Q4FY26 consolidated revenue rose 55.3% to Rs 343.4 crore from Rs 221 crore a year earlier.
• EBITDA stood at Rs 30.5 crore against Rs 10 crore. Margin stood at 8.9% against 4.5%.
• Net profit stood at Rs 19.8 crore against a loss of Rs 1.4 crore.

CreditAccess Grameen

• Q4FY26 consolidated total income rose 10.8% to Rs 1,560 crore from Rs 1,408 crore a year earlier.
• Net profit stood at Rs 340 crore against Rs 47 crore.

Oberoi Realty

• Q4FY26 consolidated revenue rose 52.1% to Rs 1,750 crore from Rs 1,150 crore a year earlier.
• EBITDA rose 55.4% to Rs 960 crore from Rs 618 crore. Margin stood at 54.9% against 53.7%.
• Net profit rose 62.4% to Rs 703 crore from Rs 433 crore.

Grindwell Norton

• Q4FY26 consolidated revenue rose 18.7% to Rs 842 crore from Rs 710 crore a year earlier.
• EBITDA rose 29% to Rs 164 crore from Rs 127 crore. Margin stood at 19.5% against 17.9%.
• Net profit rose 28.3% to Rs 119 crore from Rs 92.5 crore. The company declared a dividend of Rs 19 per share for FY26.

Niva Bupa Health Insurance

• Q4FY26 standalone total income rose 32.8% to Rs 2,078 crore from Rs 1,564 crore a year earlier.
• Net profit rose 67.5% to Rs 345 crore from Rs 206 crore.

Northern Arc Capital

• Q4FY26 consolidated total income rose 22.8% to Rs 745 crore from Rs 607 crore a year earlier.
• Net profit stood at Rs 133 crore against Rs 37.8 crore.
• The company approved issuance of non-convertible debentures of up to Rs 5,000 crore.

Shipping Corporation Of India

• Q4FY26 consolidated revenue rose 14.2% to Rs 1,513 crore from Rs 1,325 crore a year earlier.
• EBITDA rose 67.8% to Rs 612 crore from Rs 365 crore. Margin stood at 40.4% against 27.5%.
• Net profit stood at Rs 405 crore against Rs 185 crore.

Balkrishna Industries

• Q4FY26 consolidated revenue rose 6.6% to Rs 2,933 crore from Rs 2,752 crore a year earlier.
• EBITDA rose 4.3% to Rs 640 crore from Rs 614 crore. Margin stood at 21.8% against 22.3%.
• Net profit fell 18.7% to Rs 299.5 crore from Rs 368.6 crore.

Bombay Dyeing

• Q4FY26 consolidated revenue rose 10.3% to Rs 396 crore from Rs 359 crore a year earlier.
• EBITDA loss stood at Rs 1.6 crore against a loss of Rs 12.9 crore.
• Net profit rose 82.3% to Rs 21 crore from Rs 11.5 crore. The company decided not to pursue a rights issue.

Rain Industries

• Q4FY26 consolidated revenue rose 20% to Rs 4,521 crore from Rs 3,768 crore a year earlier.
• EBITDA rose 83.1% to Rs 697 crore from Rs 380 crore. Margin stood at 15.4% against 10.1%.
• Net profit stood at Rs 121 crore against a loss of Rs 138 crore.

Shree Renuka Sugars

• Q4FY26 consolidated revenue fell 6.2% to Rs 2,549 crore from Rs 2,716 crore a year earlier.
• EBITDA fell 51.7% to Rs 135 crore from Rs 279 crore. Margin stood at 5.3% against 10.3%.
• Net loss stood at Rs 121.4 crore against a profit of Rs 93.1 crore.

Multi Commodity Exchange Of India

• Q4FY26 consolidated revenue rose 33.6% sequentially to Rs 889 crore from Rs 666 crore.
• EBITDA rose 34.5% to Rs 666 crore from Rs 495 crore. Margin stood at 74.9% against 74.4%.
• Net profit rose 32.1% to Rs 530 crore from Rs 401 crore. The company declared a dividend of Rs 8 per share.

Kalyani Steels

• Q4FY26 consolidated revenue fell 11% to Rs 484 crore from Rs 544 crore a year earlier.
• EBITDA fell 13.4% to Rs 99 crore from Rs 114 crore. Margin stood at 20.4% against 21%.
• Net profit fell 10.6% to Rs 71.7 crore from Rs 80.2 crore. The company declared a dividend of Rs 10 per share.
• Bantu Upendra Kumar Patro was appointed chief financial officer.

Sasken Tech

• Q4 consolidated revenue rose 33.5% sequentially to Rs 334 crore from Rs 250 crore.
• EBIT rose 49% to Rs 22.9 crore from Rs 15.3 crore. Margin stood at 6.8% against 6.1%.
• Net profit stood at Rs 27 crore against Rs 7.8 crore.

Lloyds Enterprises

• Q4 consolidated revenue stood at Rs 720 crore against Rs 299 crore sequentially.
• EBITDA rose 84.4% to Rs 45.3 crore from Rs 24.5 crore. Margin stood at 6.3% against 8.2%.
• Net profit stood at Rs 38.1 crore against a loss of Rs 7.9 crore.

Advanced Enzyme Technologies

• Q4 consolidated revenue rose 21.6% to Rs 203.4 crore from Rs 167.2 crore a year earlier.
• EBITDA rose 38.7% to Rs 63.2 crore from Rs 45.6 crore. Margin stood at 31.1% against 27.3%.
• Net profit rose 62.2% to Rs 43 crore from Rs 26.5 crore.
• The company reappointed Mukund Madhusudan Kabra as whole-time director for five years.

Birla Corp

• Q4 consolidated net profit rose 14.9% to Rs 295 crore from Rs 257 crore a year earlier.
• Revenue rose 0.8% to Rs 2,836 crore from Rs 2,815 crore.
• EBITDA fell 4.4% to Rs 510 crore from Rs 534 crore. Margin stood at 18% against 19%.
• The quarter included a one-time loss of Rs 28 crore against a one-time gain of Rs 38 crore a year earlier.

Sambhv Steel

• Q4 consolidated revenue rose 38.4% to Rs 685 crore from Rs 495 crore a year earlier.
• EBITDA rose 91.7% to Rs 92.3 crore from Rs 48.1 crore. Margin stood at 13.5% against 9.7%.
• Net profit stood at Rs 53.3 crore against Rs 16.6 crore.

Gujarat Ambuja Exports

• Q4 consolidated revenue rose 15.8% to Rs 1,467 crore from Rs 1,267 crore a year earlier.
• EBITDA stood at Rs 195 crore against Rs 62 crore. Margin stood at 13.3% against 4.9%.
• Net profit stood at Rs 135 crore against Rs 32 crore.

Affle 3i

• Q4 consolidated revenue rose 20.3% to Rs 724 crore from Rs 602 crore a year earlier.
• EBITDA rose 20.3% to Rs 161 crore from Rs 134 crore. Margin was unchanged at 22.2%.
• Net profit rose 16% to Rs 120 crore from Rs 103 crore.
• The company will issue 74 lakh warrants worth about Rs 1,100 crore. Promoter holding will rise to 57.23% from 54.98%.

Atlanta Electricals

• Q4 consolidated revenue rose 81.7% to Rs 747.6 crore from Rs 411.5 crore a year earlier.
• EBITDA stood at Rs 149.6 crore against Rs 68.6 crore. Margin stood at 20% against 16.7%.
• Net profit stood at Rs 102.2 crore against Rs 44.7 crore.

Medi Assist Healthcare

• Q4 consolidated revenue rose 28.2% to Rs 242 crore from Rs 189 crore a year earlier.
• EBITDA rose 18.7% to Rs 48.3 crore from Rs 40.7 crore. Margin stood at 19.9% against 21.5%.
• Net profit stood at Rs 53.4 crore against Rs 21.5 crore.

Kewal Kiran Clothing

• Q4 consolidated revenue rose 12.4% to Rs 323.8 crore from Rs 288.1 crore a year earlier.
• EBITDA rose 18.4% to Rs 61.7 crore from Rs 52.1 crore. Margin stood at 19.1% against 18.1%.
• Net profit rose 6.4% to Rs 31 crore from Rs 29.1 crore.

Utkarsh Small Finance Bank

• Q4 net loss stood at Rs 188 crore against a profit of Rs 2.97 crore a year earlier.
• Net interest income fell 8.6% to Rs 376 crore from Rs 411 crore.
• Gross NPA stood at 7.7% against 11.1% sequentially. Net NPA stood at 3.3% against 4.5%.
• Provisions stood at Rs 244 crore against Rs 446 crore sequentially and Rs 223 crore a year earlier.
• Operating profit fell 94.73% to Rs 12.31 crore from Rs 233.98 crore.

Blue Dart

• Q4 consolidated revenue rose 8.2% to Rs 1,533 crore from Rs 1,417 crore a year earlier.
• EBITDA rose 4.2% to Rs 222 crore from Rs 213 crore. Margin stood at 14.5% against 15%.
• Net profit fell 11.4% to Rs 49 crore from Rs 55.2 crore.

Paisalo Digital

• Q4 net profit rose 58.3% to Rs 71.3 crore from Rs 45 crore a year earlier.
• Total income rose 34.8% to Rs 256 crore from Rs 190 crore.

• Mahindra & Mahindra reported a 12.6% year-on-year increase in April sales at 92,631 units.
• Production during the month rose 8.7% year-on-year to 95,276 units.

Bank of Baroda, Tata Consumer, CreditAccess Grameen, Oberoi Realty, MCX and Shipping Corporation of India are among stocks to watch after reporting results after Friday’s close.

Urban Company, JSW Infra, Swiggy, Bank of India, Blue Dart and Birla Corp reported inline or mixed numbers. Hyundai, ABB, Balkrishna Industries, Shree Renuka, Kalyani Steel and Utkarsh Small Finance Bank are also in focus after their earnings.

Abbott India, Anant Raj, Aurionpro Solutions, Canara Bank, D B Corp, Indian Hotels Company, JB Chemicals & Pharmaceuticals, JSW Energy, Nuvama Wealth Management, PVR Inox, Shyam Metalics and Energy, Syrma SGS Technology and UPL are among companies scheduled to report earnings today.

China’s consumer prices rose 1.2% year-on-year in April, compared with an estimate of 0.9%, Bloomberg data showed. Producer prices increased 2.8%, against an estimate of 1.8%, while core CPI also rose 1.2%.

• Vodafone Idea, Alkem Labs, E2E Networks, Fino Payments Bank, GHV Infra, Lemon Tree Hotels, PB Fintech, Krishna Institute of Medical Sciences, Sambhv Steel and CMS Info Systems will be in focus.
• Vodafone Plc is said to be considering a transfer of part of its stake in its India unit, while Alkem Labs received zero Form 483 observations from the USFDA.
• CMS Info Systems received a Rs 400 crore service order from HDFC Bank, and GHV Infra received a Rs 7,000 crore letter of intent for the Cameroon Tyres Factory Project.

GIFT Nifty traded at 24,064, below the Nifty 50’s previous close of 24,176.15 on Friday.

U.S. West Texas Intermediate futures for June delivery rose 3.08% to $95.42 per barrel. Brent crude futures for July delivery gained 3.16% to $104.49 per barrel.

• South Korea’s Kospi opened 3.67% higher at a record level, while the Kosdaq edged up.
• Japan’s Nikkei 225 rose 0.81% and the Topix gained 0.32%.
• Australia’s S&P/ASX 200 fell 0.71%, while Hang Seng futures traded below the index’s previous close.