Stock Market Highlights: Nifty, Sensex Resume Weekly Gains Amid Positive Global Cues As Iran-US Peace Efforts Lift Sentiment

• Benchmark indices ended Friday higher, with Nifty 50 closing at 23,719.30, up 0.27%, and Sensex at 75,415.35, up 0.31%.
• For the week, Nifty rose 0.32% while Sensex gained 0.37%, marking a marginal increase over the period.

• 3M India announced a final dividend of Rs 506 per share.
• The payout includes a special dividend of Rs 346 per share.

• 3M India reported a consolidated net profit of Rs 215 crore for Q4, compared with Rs 71.4 crore a year earlier.
• Revenue rose 16.8% to Rs 1,399 crore, while EBITDA increased 13.6% to Rs 257 crore. EBITDA margin stood at 18.4%, compared with 18.9% a year earlier.
• The company reported a one-time gain of Rs 40.2 crore in the quarter.

• Sun Pharma reported a 26.2% year-on-year rise in consolidated net profit to Rs 2,714 crore for Q4.
• Revenue increased 12.8% to Rs 14,612 crore, while EBITDA rose 6.2% to Rs 3,954 crore. EBITDA margin stood at 27.1%, compared with 28.7% a year earlier.
• The company reported a forex gain of Rs 427 crore in the quarter, higher than Rs 291 crore a year earlier. 

• Sun Pharma reported a consolidated net profit of Rs 2,714 crore for Q4, slightly below the estimate of Rs 2,762 crore.
• Revenue came in at Rs 14,611.8 crore, above the estimate of Rs 14,492 crore, while EBITDA stood at Rs 3,954 crore, marginally ahead of expectations.
• EBITDA margin was at 27%, compared with the estimate of 27.2%.

• Benchmark indices trimmed some gains after hitting intraday highs earlier in the session.
• Nifty traded at 23,728.10, up 0.31%, while Sensex rose 0.38% to 75,467.04, indicating partial profit booking from higher levels.

• Brent crude futures for July rose 1.9% to $104.52 per barrel
• U.S. West Texas Intermediate futures for June gained 1.5% to $97.81 per barrel.

• European markets traded higher in early deals, with the pan-European Stoxx 600 rising around 0.5%.
• Germany’s DAX gained 0.7%, while France’s CAC 40 and Italy’s FTSE MIB added about 0.5% each. The UK’s FTSE 100 rose 0.3%.
• Most sectoral indices in the region traded in the green.

Goodluck India said it has secured an order worth $13.6 million for transmission line structures, according to an exchange filing.

• TTK Prestige reported a consolidated net profit of Rs 36.8 crore for Q4, compared with a loss of Rs 40.6 crore a year earlier.
• Revenue rose 12.3% to Rs 729 crore, while EBITDA increased 33.7% to Rs 67 crore. Margin improved to 9.2% from 7.7%.
• The company said Q4 FY25 included a one-time loss of Rs 71.4 crore and announced a dividend of Rs 7.50 per share.

• Info Edge reported a consolidated net profit of Rs 566 crore for Q4, compared to Rs 272 crore in the previous quarter.
• Revenue rose 6.1% to Rs 869 crore, while EBIT increased 14.9% to Rs 303 crore. Margin improved to 34.9% from 32.2%.
• The company reported a one-time gain of Rs 70.2 crore in the quarter and announced a final dividend of Rs 3.60 per share.

• Nifty traded at day’s high, rising over 0.7% after a flat opening, with 33 of its 50 stocks in the green
• Shriram Finance and Wipro led gains, both rising over 2.5%, while Nifty Financial Services was the top-performing sector
• Broader markets lagged, with Nifty Midcap 150 and Nifty Smallcap 250 up about 0.15% each
• All sectoral indices traded higher except Nifty IT and Nifty Pharma

• All institutional investors have submitted consent letters confirming participation in the NSE IPO, according to sources.
• Some retail investors have also filed consent letters indicating their intent to participate.

Benchmark indices extended gains to fresh highs, with Nifty rising up to 0.76% to 23,835.65 and Sensex advancing 624 points, or 0.8%, to 75,807.65.

• Market expert Pankaj Tibrewal said broader markets delivered better earnings in the third quarter, but expects Q1 FY27 earnings to be weak due to possible supply chain disruptions
• He said Nifty may remain rangebound in the near term, with B2B businesses likely to perform better than B2C and D2C segments
• Tibrewal said rupee depreciation is linked to EXIM activity and believes the currency is undervalued, which may support exports
• He said pricing power of domestic companies is increasing and expects a bottom-up approach to drive the market, with FIIs likely to return

• LIC said it has achieved margins of over 21% and remains confident of further expansion, supported by a shift towards non-participating products
• The insurer said non-par products account for about 35% of APE, while gains in participating products are passed on to policyholders
• LIC said the new Insurance Act may increase competition, with more foreign players expected to enter the sector
• The company added that its bonus issue is aimed at improving share liquidity and it remains focused on performance and returns to shareholders

• Benchmark indices gained momentum amid optimism around U.S.-Iran talks and cooling global yields
• Nifty faces short-term resistance near 23,800, while Nifty Bank shows a strong technical setup
• Banking stocks saw support on expectations of no rate hike, with the rupee below 96 per dollar amid RBI intervention
• Buying interest continues in small- and mid-cap stocks, while large trade carry-over ahead of the weekend remains limited
• Q4 earnings from Hindalco Industries, Sun Pharma and Eicher Motors are key triggers to watch

Godrej Properties partners with Tata Projects for construction contracts worth INR 1,100 crore across 3 Golf Course Road projects in Gurgaon.

The Indian rupee has strengthened considerably to move below the psychological mark of 96 against the US dollar. This likely comes after intervention from the Reserve Bank of India.

Benchmark indices touched the day’s high, with Nifty rising up to 0.6% to 23,800 and Sensex gaining 540 points, or 0.7%, to 75,723.31.

• Persistent Systems and Tata Power appeared among counters witnessing fresh short build-up.
• The stocks declined during the session while open interest rose.
• JSW Steel and NMDC also featured among stocks seeing bearish derivatives positioning.

• Nykaa and Max Healthcare Institute featured among stocks witnessing fresh short additions in futures trade.
• Both counters declined while open interest increased.
• L&T Finance and Paytm also appeared in the fresh shorts basket.

• Bharat Forge and UPL appeared among counters witnessing short covering in futures positioning.
• The stocks gained alongside declining open interest levels.
• Torrent Pharmaceuticals and KEI Industries also featured in the short covering basket.

• UltraTech Cement and Adani Power featured among stocks witnessing short covering in futures trade.
• Both counters advanced during the session while open interest declined.
• Titan and Tata Steel also showed similar positioning trends.

• Samvardhana Motherson International and DLF witnessed long unwinding activity in the latest derivatives data.
• The stocks declined alongside lower open interest levels.
• REC Ltd. and RVNL also appeared in the liquidation category.

• Infosys and ONGC appeared among counters witnessing liquidation in futures positioning.
• Both stocks declined while open interest also eased during the session.
• Power Grid Corp. and Sun Pharmaceutical Industries also featured in the long unwinding basket.

• Varun Beverages and Dabur India featured among counters witnessing fresh long build-up.
• The stocks gained during the session while open interest also increased.
• ICICI Prudential Life Insurance and Supreme Industries additionally showed similar positioning trends.

• LIC and Adani Energy Solutions appeared among stocks witnessing fresh accumulation in futures trade.
• Both counters advanced alongside rising open interest, signalling fresh long positioning.
• Ambuja Cements and Axis Bank also featured in the accumulation basket.

• Wipro and ONGC featured among stocks witnessing strong open interest additions since the previous expiry.
• Wipro total derivatives open interest rose 164.44%, while ONGC recorded a 75.23% increase.
• The data also showed elevated Call and Put positioning in both counters.

• PI Industries and Page Industries featured among stocks witnessing strong derivatives positioning since the previous expiry.
• PI Industries total open interest surged 349.49%, while Page Industries recorded a 206.04% increase.
• Persistent Systems and Wipro also saw elevated open interest additions.

• Nifty Bank total derivatives open interest rose 141.94% since the previous expiry cycle while the index fell 7.25%.
• Call open interest increased 179.11%, while Put open interest climbed 123.72%.
• The data pointed to aggressive derivatives positioning in banking counters.

• Nifty 50 total derivatives open interest climbed 119.49% since the previous expiry even as the index declined 8.32%.
• Call open interest rose 114.53%, while Put open interest increased 132.22%.
• The positioning reflected elevated hedging activity amid market volatility.

• Nifty Bank monthly options positioning showed the 53,000 strike carrying the highest Put open interest base.
• Fresh Put additions were also concentrated at the 53,500 and 54,000 strikes.
• The data indicated traders were positioning for support around the 53,000 level in the June expiry series.

• Nifty Bank monthly options data showed the 54,000 strike carrying the highest Call open interest concentration.
• Fresh Call additions were also visible at the 54,500 and 55,000 strikes.
• The positioning indicated traders continued to cap upside expectations around the 54,000–55,000 zone.

• Nifty monthly options positioning showed aggressive Put writing at the 23,700 strike.
• The strike also carried one of the largest Put open interest bases in the monthly series.
• The 23,500 and 23,600 strikes additionally saw elevated Put positioning, indicating support expectations around those levels.

• Nifty monthly options data showed the 24,000 strike carrying the highest Call open interest concentration.
• Fresh Call additions were also concentrated at the 24,100 and 24,500 strikes, indicating traders continued to position for resistance near higher levels.
• The 23,800 strike meanwhile saw the sharpest Put additions.

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• IT stocks traded mixed in early trade, with Wipro rising 0.48% and Coforge gaining 0.21%.
• Tech Mahindra, Mphasis and Infosys also traded slightly higher.
• On the downside, Oracle Financial Services fell 1.41% and Persistent Systems declined 1.27%, while TCS traded marginally lower.


 

• Jewellery stocks traded higher in early trade, led by Sky Gold, which rose 2.18%, followed by Vaibhav Global at 1.98%.
• Goldiam, PC Jeweller and Thangamayil Jewellery gained around 1–1.2%, while Kalyan Jewellers also moved higher.
• Titan Company added 0.60%, while Senco Gold was the only stock in the segment to decline, falling 0.13%.


 

• VA Tech Wabag said it has secured an order worth Rs 100–250 crore for a wastewater treatment project.
• The order is for setting up a wastewater treatment plant in Delhi, according to an exchange filing.

• Market expert Matt Orton said India’s economy continues to show domestic resilience, with opportunities emerging across sectors.
• He said Adani Ports has not been impacted by the Middle East conflict and has potential to grow market share and margins.
• Orton flagged challenges in the IT sector, while noting that rupee depreciation could support exports, even as it may weigh on foreign investment flows.

Engineers India shares declined 6.94% to Rs 220.75 in trade. The stock was down Rs 16.45 from the previous level.

• Central Bank of India shares fell over 5% after the government launched an offer for sale (OFS) to divest a 4% stake.
• The OFS has a floor price of Rs 31 per share, with an option to sell an additional 4% stake in case of oversubscription.
• Non-retail investors can bid on May 22, while retail investors can participate on May 25, with 10% of the offer reserved for retail and 25% for mutual funds and insurance companies.

• Honasa Consumer hit the 10% upper circuit after reporting Q4 earnings.
• Revenue rose 23.1% year-on-year to Rs 657.1 crore, while Ebitda increased 185.9% to Rs 77.2 crore, pushing margin to 11.7% from 5.1%.
• Net profit rose 177.9% to Rs 69.2 crore. The board declared a final dividend of Rs 3 per share.

• Nifty Bank and financial services indices led gains, rising around 0.8% and 0.77%, respectively.
• Auto, PSU Bank and Realty indices also traded higher, while metal and energy posted moderate gains.
• On the downside, media, realty and IT indices declined, with media falling the most during trade.


 

• HDFC Bank contributed 23.24 points to the Nifty 50’s move, followed by ICICI Bank at 15.77 points and Reliance Industries at 6.43 points.
• SBI and Axis Bank also added to gains, contributing 4.77 points and 4.19 points, respectively.
• On the downside, Max Healthcare, ITC and Infosys weighed on the index, dragging 8.71 points, 7.54 points and 5.9 points, respectively.

• Benchmark indices opened higher, with Nifty rising up to 0.2% to 23,710.80 and Sensex gaining 195 points, or 0.3%, to 75,379.
• The indices are on track to extend gains for the week.

• The rupee traded at 96.2125 against the U.S. dollar in early trade, compared with the previous close of 96.20.
• The currency moved in a range of 96.20 to 96.30 during the session.

• Bernstein said innovation opportunities in niche therapies and complex specialty will drive revenue growth for Indian biopharma companies.
• The brokerage initiated outperform on Zydus Life, Lupin and Sun Pharma, with target prices of Rs 1,457, Rs 2,707 and Rs 2,235, respectively.
• It initiated market-perform on Aurobindo Pharma with a target price of Rs 1,498, and underperform on Mankind Pharma and Biocon with target prices of Rs 2,057 and Rs 326, respectively.

• Citi maintained a sell rating on Nykaa and raised its target price to Rs 225 from Rs 215, citing lower fixed operating expenses, lower fashion losses and improved BPC gross margins.
• Macquarie maintained underperform with a target price of Rs 210. It said Q4 Ebitda was 5% ahead of estimates, supported by beauty margins and fashion breakeven.
• Jefferies maintained buy and raised its target price to Rs 350 from Rs 315, citing growth across segments, fashion acceleration and progress in own brands.

• Morgan Stanley maintained an overweight rating on Maruti Suzuki with a target price of Rs 17,895.
• The brokerage estimated that Maruti’s price increase could be about 1%, citing cost pressures and no price hikes by the company so far this year.
• It said commodity costs may create 250–300 basis points of cost headwinds in Q1, with margins expected to trough during the quarter due to commodity costs and brownfield expansion.

• Bernstein initiated coverage on Lupin with an outperform rating and a target price of Rs 2,707.
• The brokerage said innovation opportunities in niche therapies and complex specialty could drive revenue acceleration for Indian biopharma companies.
• It called Lupin an innovation-driven turnaround story, with valuations attractive and policy uncertainties easing.

• Jefferies maintained a buy rating on LG India with a target price of Rs 1,660 after its Q4 results.
• The brokerage said profit after tax was in line, while margins remained industry-leading. It said the 240-basis-point year-on-year fall in operating margin was led by commodity costs, a weaker rupee and channel investments.
• Jefferies said room air-conditioner sales crossed 10 lakh units in Q4, while the company retained market leadership in key categories.

• Bernstein said innovation opportunities in niche therapies and complex specialty will drive revenue acceleration for Indian biopharma companies.
• The brokerage initiated outperform on Zydus Life, Lupin and Sun Pharma, with target prices of Rs 1,457, Rs 2,707 and Rs 2,235, respectively.
• It initiated market-perform on Aurobindo Pharma with a target price of Rs 1,498, and underperform on Mankind Pharma and Biocon with target prices of Rs 2,057 and Rs 326, respectively.

• Citi maintained a sell rating on Nykaa and raised its target price to Rs 225 from Rs 215, citing lower fixed operating expenses, lower fashion losses and improved BPC gross margins.
• Macquarie maintained underperform with a target price of Rs 210. It said Q4 Ebitda was 5% ahead of estimates, supported by beauty margins and fashion breakeven.
• Jefferies maintained buy and raised its target price to Rs 350 from Rs 315, citing growth across segments, fashion acceleration and progress in own brands.

• Citi maintained a sell rating on ITC with a target price of Rs 290, saying regulatory overhang and structural risks remain. It said Q1FY27 will provide a clearer read-through of the cigarette tax increase impact.
• Morgan Stanley maintained equal-weight with a target price of Rs 346, while JPMorgan maintained neutral with a target price of Rs 325. Both brokerages said the tax impact on cigarettes remains a key monitorable.
• Jefferies maintained hold and cut its target price to Rs 350 from Rs 400, while Macquarie maintained neutral with a target price of Rs 330. Both said cigarette volume momentum and Q1FY27 profitability will be in focus.

• Jefferies maintained a buy rating on Honasa Consumer and raised its target price to Rs 565 from Rs 500, citing growth and margin performance in Q4.
• Citi maintained a sell rating and raised its target price to Rs 320 from Rs 285, saying growth acceleration and operating leverage remain in focus.
• Jefferies noted the company’s guidance of high-teens revenue growth with 100 basis points of annual Ebitda expansion, while Citi said offline distribution, innovation and reinvestments will be key monitorables.

• Bernstein said growth in financials has improved, margins have softened marginally and asset quality remains benign, while macro pressures and tighter liquidity may keep net interest margins under pressure in the near term.
• The brokerage maintained outperform on HDFC Bank, Axis Bank, IndusInd Bank and Paytm, with target prices of Rs 1,150, Rs 1,600, Rs 1,000 and Rs 1,500, respectively.
• It maintained market-perform on ICICI Bank, Kotak Mahindra Bank and SBI, and underperform on Bajaj Finance.

• Jefferies maintained a hold rating on Dr Agarwal’s and raised its target price to Rs 510 from Rs 470.
• The brokerage said growth remained strong, while valuations remained punchy. It said expansion was in line with guidance, with 56 additions in FY26 and 60 centres planned in FY27.
• Jefferies said the company guided for 21–22% revenue growth in FY27 with margins near 27%.

• Jefferies maintained a buy rating on AWL Agri with a target price of Rs 260 after the company’s first analyst meet.
• The brokerage said AWL Agri highlighted its plan to shift from an edible oil-led business to a scaled foods platform, with sales guidance of Rs 1 lakh crore by 2030.
• Jefferies said the company expects food business growth, better revenue mix and scale to support margins.

• Macquarie maintained underperform on Aurobindo Pharma with a target price of Rs 1,050, saying Q4FY26 was operationally in line with subdued growth.
• The brokerage said U.S. revenue fell to $387 million due to seasonality, while management indicated that the base business stayed stable despite lower transient product sales.
• Bernstein initiated coverage with a market-perform rating and a target price of Rs 1,498, citing innovation opportunities in niche therapies and complex specialty.

• Bernstein said Adani Group has execution at scale, healthy promoter holding and share pledge levels, and comfortable debt repayment and yields.
• The brokerage maintained outperform on Adani Ports with a target price of Rs 1,880, citing pricing power and scope to expand in the value chain.
• It also maintained outperform on Adani Power with a target price of Rs 177, market-perform on Ambuja Cements with a target price of Rs 542, and underperform on Adani Green with a target price of Rs 864.

• Bernstein maintained a market-perform rating on LIC with a target price of Rs 940, citing growth in top line and bottom line in Q4FY26.
• Macquarie maintained an outperform rating with a target price of Rs 1,100, saying margin expansion was a positive surprise and APE growth remained strong.
• Citi maintained a buy rating and raised its target price to Rs 1,475 from Rs 1,345, citing operational performance and persistency-led releases.

• Aurobindo Pharma’s consolidated net profit for Q4 is expected to rise 7% year-on-year to Rs 965 crore, while revenue may increase 4.4% to Rs 8,754 crore.
• Ebitda is expected to rise 3% to Rs 1,809 crore, with margin seen at 20.7% against 21% a year earlier.
• The quarter is expected to reflect steady growth, supported by Europe sales, ARV growth and forex benefits, while the absence of gRevlimid sales may weigh on the U.S. business and margins.

• Hindalco’s consolidated net profit for Q4 is expected to rise 100.1% sequentially to Rs 4,099 crore, while revenue may increase 5.2% to Rs 69,986 crore.
• Ebitda is expected to rise 7.9% to Rs 8,611 crore, with margin seen at 12.3% against 12% in the previous quarter.
• Firm aluminium prices, stronger copper realisations and stabilisation at Novelis after Oswego disruptions are expected to support the quarter.

Juniper Hotels (Q4, Consolidated YoY)

• Revenue up 8.3% to Rs 301 crore versus Rs 278 crore.

• Ebitda up 13.7% to Rs 133 crore versus Rs 117 crore.

• Margin at 44% versus 42.1%.

• Net profit down 8.4% to Rs 50.4 crore versus Rs 55 crore.

• Arun Kumar Saraf reappointed Chairman and MD.

• Board approved acquisition of 100% stake in Juniper Hospitality Assets.

ITC (Q4, Consolidated YoY)

• Revenue down 7% to Rs 16,050 crore versus Rs 17,249 crore.

• Ebitda up 7.3% to Rs 6,425 crore versus Rs 5,987 crore.

• Margin up 533 bps to 40.03% versus 34.7%.

• Net profit up 4.9% to Rs 5,113 crore versus Rs 4,875 crore.

• Board declared final dividend of Rs 8/share.

Rashtriya Chemicals (Q4, Consolidated YoY)

• Revenue up 49.6% to Rs 5,581 crore versus Rs 3,730 crore.

• Ebitda up 82% to Rs 324 crore versus Rs 178 crore.

• Margin up 100 bps to 5.8% versus 4.8%.

• Net profit up 157.5% to Rs 186.7 crore versus Rs 72.5 crore.

Nykaa (Q4, Consolidated YoY)

• Revenue up 28.4% to Rs 2,648 crore versus Rs 2,062 crore.

• Ebitda up 67.7% to Rs 223 crore versus Rs 133 crore.

• Margin up 190 bps to 8.4% versus 6.5%.

• Net profit up 286.2% to Rs 78.4 crore versus Rs 20.3 crore.

• Beauty segment revenue up 27% to Rs 2,410 crore.

• Fashion revenue up 40% to Rs 225 crore.

• Board approved additional stake acquisition in Earth Rhythm.

Sudeep Pharma (Q4, Consolidated YoY)

• Revenue up 15.7% to Rs 182.3 crore versus Rs 157.6 crore.

• Ebitda up 6.5% to Rs 62.6 crore versus Rs 58.8 crore.

• Margin down 300 bps to 34.3% versus 37.3%.

• Net profit up 10.6% to Rs 48.9 crore versus Rs 44.2 crore.

GMM Pfaudler (Q4, Consolidated YoY)

• Revenue up 17% to Rs 944 crore versus Rs 807 crore.

• Ebitda down 9.7% to Rs 75.1 crore versus Rs 83.2 crore.

• Margin down 230 bps to 8% versus 10.3%.

• Net profit at Rs 17.2 crore versus loss of Rs 27 crore.

• One-time cost stood at Rs 9 crore in Q4.

• Gregory Gelhaus appointed Group CEO; Ankit Nayyar appointed Deputy CFO.

Max Healthcare (Q4, Consolidated YoY)

• Gross revenue up 10% to Rs 2,664 crore.

• Net revenue up 9.2% to Rs 2,541 crore versus Rs 2,326 crore.

• Reported Op Ebitda up 7.9% to Rs 682 crore versus Rs 632 crore.

• Reported Op margin down 40 bps to 26.8% versus 27.2%.

• Reported PAT up 2.9% to Rs 387 crore versus Rs 376 crore.

• ARPOB rose to Rs 77,900 from Rs 77,100.

• Board declared final dividend of Rs 2/share.

• Approved Phase 1 of Max Super Specialty Hospital in Lucknow with Rs 1,400 crore investment.

Honasa Consumer (Q4, Consolidated YoY)

• Revenue up 23.1% to Rs 657.1 crore versus Rs 533.6 crore.

• Ebitda up 185.9% to Rs 77.2 crore versus Rs 27 crore.

• Margin up 660 bps to 11.7% versus 5.1%.

• Net profit up 177.9% to Rs 69.2 crore versus Rs 24.9 crore.

• Board declared final dividend of Rs 3/share.

Happy Forgings (Q4, Consolidated YoY)

• Revenue up 20.5% to Rs 424 crore versus Rs 352 crore.

• Ebitda up 30.4% to Rs 133 crore versus Rs 102 crore.

• Margin up 240 bps to 31.5% versus 29.1%.

• Net profit up 23.7% to Rs 83.6 crore versus Rs 67.6 crore.

• Board declared final dividend of Rs 4/share.

• Megha Garg appointed Whole-Time Director.

• Company plans 25 MW solar project with investment up to Rs 120 crore.

Sun TV (Q4, Consolidated YoY)

• Revenue down 6.3% to Rs 883 crore versus Rs 942 crore.

• Ebitda down 8.9% to Rs 390.7 crore versus Rs 428.7 crore.

• Margin down 120 bps to 44.3% versus 45.5%.

• Net profit down 37.4% to Rs 232 crore versus Rs 370.8 crore.

VA Tech Wabag (Q4, Consolidated YoY)

• Revenue up 22.3% to Rs 1,414 crore versus Rs 1,156 crore.

• Ebitda up 11.8% to Rs 157.4 crore versus Rs 140.8 crore.

• Margin down 110 bps to 11.1% versus 12.2%.

• Net profit up 28.9% to Rs 128.3 crore versus Rs 99.5 crore.

ICRA (Q4, Consolidated YoY)

• Revenue up 28.4% to Rs 174.9 crore versus Rs 136.2 crore.

• Ebitda up 17.6% to Rs 69.5 crore versus Rs 59.1 crore.

• Margin down 360 bps to 39.8% versus 43.4%.

• Net profit down 5.7% to Rs 52.5 crore versus Rs 55.7 crore.

• Board declared final dividend of Rs 105/share, including special dividend of Rs 35/share.

LIC (Q4, YoY)

• Net premium income up 12.2% to Rs 1.65 lakh crore versus Rs 1.47 lakh crore.

• Net profit up 23.2% to Rs 23,420 crore versus Rs 19,013 crore.

• Value of new business up 41.6% to Rs 14,179 crore.

• AUM up 5.1% to Rs 57.3 lakh crore.

• Solvency ratio improved to 2.35% versus 2.11% YoY.

• Board declared final dividend of Rs 10/share.

• May 29 fixed as record date for 1:1 bonus issue.

Dr Agarwals Health (Q4, Consolidated YoY)

• Revenue up 22.6% to Rs 564 crore versus Rs 460 crore.

• Ebitda up 22.9% to Rs 161 crore versus Rs 131 crore.

• Margin up 10 bps to 28.6% versus 28.5%.

• Net profit up 21.8% to Rs 39.7 crore versus Rs 32.6 crore.

Welspun Corp (Q4, Consolidated YoY)

• Revenue up 9.9% to Rs 4,313 crore versus Rs 3,925 crore.

• Ebitda up 9.5% to Rs 503.8 crore versus Rs 460.2 crore.

• Margin flat at 11.7%.

• Net profit down 47% to Rs 370 crore versus Rs 698 crore.

• Board declared final dividend of Rs 5/share.

GAIL (Q4, QoQ)

• Revenue up 2.1% to Rs 34,773 crore versus Rs 34,051 crore.

• Ebitda down 56.6% to Rs 1,152 crore versus Rs 2,655 crore.

• Margin down 450 bps to 3.3% versus 7.8%.

• Net profit down 21.3% to Rs 1,262 crore versus Rs 1,603 crore.

GMR Power (Q4, Consolidated YoY)

• Revenue up 15.4% to Rs 2,004 crore versus Rs 1,737 crore.

• Ebitda up 20.7% to Rs 458.7 crore versus Rs 379.9 crore.

• Margin up 100 bps to 22.9% versus 21.9%.

• Net loss at Rs 111.7 crore versus profit of Rs 43.7 crore.

LG Electronics (Q4, YoY)

• Revenue up 8.1% to Rs 8,054 crore versus Rs 7,448 crore.

• Ebitda down 9.8% to Rs 945.3 crore versus Rs 1,048.1 crore.

• Margin down 240 bps to 11.7% versus 14.1%.

• Net profit down 8.2% to Rs 693 crore versus Rs 755 crore.

Datamatics Global (Q4, Consolidated YoY)

• Revenue up 4.4% to Rs 519 crore versus Rs 497 crore.

• Ebitda up 49% to Rs 111 crore versus Rs 74.5 crore.

• Margin up 630 bps to 21.3% versus 15%.

• Net profit down 1.6% to Rs 44.2 crore versus Rs 44.9 crore.

• Board declared final dividend of Rs 5/share.

• Approved merger of Dextara Digital and Datamatics Cloud into the company.

Balmer Lawrie Investments (Q4, Consolidated YoY)

• Total income up 21.8% to Rs 766 crore versus Rs 629 crore.

• Net profit up 12.2% to Rs 54.1 crore versus Rs 48.2 crore.

Hindustan Foods (Q4, Consolidated YoY)

• Revenue up 16.5% to Rs 1,117 crore versus Rs 959 crore.

• Ebitda up 28.2% to Rs 100 crore versus Rs 78 crore.

• Margin up 80 bps to 9% versus 8.2%.

• Net profit up 31.6% to Rs 41.6 crore versus Rs 31.6 crore.

Aurobindo Pharma (Q4, Consolidated YoY)

• Revenue up 5.6% to Rs 8,853 crore versus Rs 8,382 crore.

• Ebitda up 0.5% to Rs 1,801 crore versus Rs 1,792 crore.

• Margin down 110 bps to 20.3% versus 21.4%.

• Net profit up 1.9% to Rs 921 crore versus Rs 903.5 crore.

Bikaji Foods (Q4, Consolidated YoY)

• Revenue up 18% to Rs 721 crore versus Rs 611 crore.

• Ebitda up 18.5% to Rs 87.7 crore versus Rs 74 crore.

• Margin up 10 bps to 12.2% versus 12.1%.

• Net profit up 26.2% to Rs 56.4 crore versus Rs 44.7 crore.

• Board declared dividend of Rs 1.25/share.

• Deepak Agarwal appointed Chairman.

Sharda Motor Industries (Q4, Consolidated YoY)

• Revenue up 29.6% to Rs 972 crore versus Rs 750 crore.

• Ebitda up 12% to Rs 112.9 crore versus Rs 100.8 crore.

• Margin down 180 bps to 11.6% versus 13.4%.

• Net profit up 6% to Rs 89 crore versus Rs 84 crore.

• Board declared final dividend of Rs 20/share.

Flair Writing (Q4, Consolidated YoY)

• Revenue up 8.4% to Rs 323 crore versus Rs 298 crore.

• Ebitda up 23.3% to Rs 57.7 crore versus Rs 46.8 crore.

• Margin up 220 bps to 17.9% versus 15.7%.

• Net profit up 16.2% to Rs 35.8 crore versus Rs 30.8 crore.

Wakefit Innovations (Q4, YoY)

• Revenue up 13.5% to Rs 343.6 crore versus Rs 302.6 crore.

• Ebitda at Rs 36.4 crore versus Rs 5.9 crore.

• Margin up 870 bps to 10.6% versus 1.9%.

• Net profit at Rs 122 crore versus loss of Rs 26 crore.

• Company benefited from Rs 98 crore tax write-back in Q4.

Ixigo (Q4, Consolidated YoY)

• Revenue up 8.5% to Rs 308 crore versus Rs 284 crore.

• Ebitda down 0.8% to Rs 24.5 crore versus Rs 24.7 crore.

• Margin down 70 bps to 8% versus 8.7%.

• Net profit up 91% to Rs 31.9 crore versus Rs 16.7 crore.

Ganesh Ecosphere (Q4, Consolidated YoY)

• Revenue up 23.1% to Rs 424 crore versus Rs 344.4 crore.

• Ebitda up 2.3% to Rs 52.3 crore versus Rs 51.1 crore.

• Margin down 250 bps to 12.3% versus 14.8%.

• Net profit down 2.5% to Rs 23.2 crore versus Rs 23.8 crore.

Lux Industries (Q4, Consolidated YoY)

• Revenue up 6.7% to Rs 873 crore versus Rs 818 crore.

• Ebitda down 16.2% to Rs 64.2 crore versus Rs 76.6 crore.

• Margin down 200 bps to 7.4% versus 9.4%.

• Net profit down 8.7% to Rs 43.9 crore versus Rs 48.1 crore.

• Board declared final dividend of Rs 2/share.

Repco Home Finance (Q4, Consolidated YoY)

• Total income up 6.8% to Rs 454 crore versus Rs 425 crore.

• Net profit up 3.5% to Rs 129.1 crore versus Rs 124.7 crore.

• Board declared final dividend of Rs 3/share.

• Plans to raise up to Rs 2,500 crore via NCDs and CPs.

• Borrowing limit increased to Rs 20,000 crore.

Reliance Power (Q4, Consolidated YoY)

• Revenue down 4.6% to Rs 1,887 crore versus Rs 1,978 crore.

• Ebitda down 2.4% to Rs 576 crore versus Rs 590 crore.

• Margin up 70 bps to 30.5% versus 29.8%.

• Net loss at Rs 494 crore versus profit of Rs 125.6 crore.

• Board approved fundraising of up to Rs 6,000 crore via QIP/equity and Rs 3,000 crore via NCDs.

Prestige Estates (Q4, Consolidated YoY)

• Revenue at Rs 4,074 crore versus Rs 1,528 crore.

• Ebitda up 93.2% to Rs 1,045.5 crore versus Rs 541.1 crore.

• Margin down 970 bps to 25.7% versus 35.4%.

• Net profit at Rs 250 crore versus Rs 25 crore.

• Board declared dividend of Rs 2/share.

• Approved Rs 2,000 crore NCD issuance via private placement.

• The Department of Land Resources and the Asian Development Bank explored collaboration in land governance, digital land records and watershed management, PTI reported.
• Officials discussed technical assistance, policy support and knowledge sharing during a meeting between DoLR Secretary Narendra Bhooshan and an ADB delegation.
• The department also outlined progress under the Digital India Land Records Modernisation Programme, with digitisation of Records of Rights near saturation in several states and Union Territories.

• Swiggy failed to secure the required shareholder approval to alter its Articles of Association, according to exchange filing.
• The resolution received 72.36% shareholder votes, falling short of the required threshold by 2.65 percentage points.
• The company had sought the change as part of its plan to qualify as an Indian-owned and controlled company under applicable foreign exchange rules.

• Tata Capital allotted NCDs worth Rs 2,950 crore, while Cholamandalam also raised Rs 1,000 crore via non-convertible securities
• Supreme Court stayed Tata Steel’s Rs 891 crore GST demand; also ruled against Vedanta’s unit, directing Rs 127 crore payment
• Eicher Motors plans Rs 750 crore investment to acquire 50% stake in Volvo Financial Services; Adani Ports completed Jaypee Fertilisers acquisition and set up a new subsidiary
• Indian Overseas Bank plans to raise up to Rs 5,000 crore equity; Union Bank board to consider fundraising options on May 26
• Maruti Suzuki to increase vehicle prices by up to Rs 30,000 from June
• Varun Beverages extended PepsiCo pact till 2049; Fino Payments Bank said Rishi Gupta will step down as MD and CEO
• RailTel terminated a Rs 26.7 crore order; H.G. Infra postponed its board meeting scheduled for May 22

• Q4 earnings announced after Thursday’s close will keep several stocks in focus today.
• LIC, Nykaa, RCF, Happy Forgings, Dr Agarwal, Hindustan Foods, Bikaji Foods, Wakefit Innovation, Prestige Estates and Vaibhav Global are among results seen as good.
• ITC, Juniper Hotels, Sudeep Pharma, GMM Pfaudler, VA Tech Wabag, ICRA, GMR Power, LG Electronics, Datamatics Global, Balmer Lawrie Investments, Sharda Motor, Flair Writing, Ixigo, Ganesha Ecosphere, Lux and Repco Home Finance are in the inline or mixed category.
• GAIL, Max Healthcare, Sun TV, Welspun Corp, Reliance Power, Ashoka Buildcon, Engineers India, Aurobindo Pharma, Laxmi Organics and Quick Heal Technologies are among results seen as weak.

• Avalon Technologies, Garware Hi-Tech Films, Sharda Cropchem, Suven Life Sciences and Yasho Industries have been shortlisted under the short-term ASM framework.
• Adani Energy Solutions, Sasken Technologies and Shivalik Bimetal Controls will be excluded from the ASM framework.

• MTAR Technologies promoter group member Akepati Pranay Reddy sold 1.2 lakh shares.
• In Paisalo Digital, Sunil Purushottamn Agarwal and Santanu Agarwal bought 20 lakh shares each.
• In Bliss GVS Pharma, Mrs Punita Sharma sold 24,000 shares, while Mr Gagan Harsh Sharma sold 4.34 lakh shares.

• Energy Infrastructure Trust saw Tara Investments 2 buy 3.04 crore shares at Rs 76.1 apiece, while Rapid Holdings 2 sold the same number of shares at the same price.
• In Aqylon Nexus, Kurjibhai Premjibhai Rupareliya sold 72.51 lakh shares at Rs 58.03 apiece. Pine Oak Global Fund bought 26 lakh shares at Rs 57.97 per share.
• Lok Prakashan sold 2.12 lakh shares in Mangalam Cement at Rs 830.4 apiece.

• A US House committee voted 48-1 to advance the Sunshine Protection Act, Reuters reported.
• The proposal seeks to keep daylight saving time in effect throughout the year and may be included in a five-year transportation bill.

• The Centre plans to centralise food surveillance sampling under the Food Safety and Standards Authority of India, Mint reported, citing two government officials and a document it reviewed.
• At present, state-level food safety officers handle both routine surveillance sampling and enforcement sampling.
• The report said the proposed change may split these roles between FSSAI and state food safety officers.

• US Secretary of State Marco Rubio said the US wants to sell India as much energy as it is willing to buy, citing US production and export levels.
• Rubio said the US was already in talks with India to expand energy supplies and wanted a bigger role in India’s energy portfolio.
• He also said there were opportunities involving Venezuelan oil and that Venezuela’s interim president is expected to travel to India next week.

• The government has launched an offer for sale in Central Bank of India to divest a 4% stake.
• Non-retail investors can bid today, while retail investors can place bids on Monday. The government has also offered an additional 4% stake through a greenshoe option.

• State Bank of India staff under the All India State Bank of India Staff Federation have threatened a two-day nationwide strike from May 25, PTI reported.
• The union’s demands include recruitment of adequate staff, messengers and armed guards, along with changes to the pension fund manager option for NPS employees.
• PTI reported that a conciliation meeting between the union and management is scheduled for May 23 at the Office of the Chief Labour Commissioner.

• India raised concerns at a WTO meeting in Geneva over the UK’s proposed steel safeguard measures, PTI reported, citing an official.
• From July 1, 2026, the UK will cut tariff-free steel import quotas by 60%, with imports above the limit facing a 50% tariff.
• India’s exports of iron and steel and related products to the UK stood at $893.4 million in 2025-26, out of total merchandise exports of $13.4 billion.

• A stake worth up to Rs 960 crore in Paytm parent One 97 Communications is set to be sold on Friday, according to sources.
• The sellers include Saif III Mauritius Company, Saif Partners India IV and Elevation Capital V.
• Citigroup Global Markets India is the placement agent for the deal, with settlement expected on May 25.

• Varun Beverages has extended its exclusive bottling and trademark licensing agreement with PepsiCo in India until April 30, 2049, according to a regulatory filing.
• The revised agreement replaces the earlier pact, which was valid until April 30, 2039.

• Prime Minister Narendra Modi chaired a nearly four-and-a-half-hour meeting of the Council of Ministers in New Delhi on Thursday, ANI reported.
• The meeting focused on governance efficiency, policy execution and global challenges linked to the West Asia conflict.
• Ministries including agriculture, forest, labour, road transport, corporate affairs, external affairs, commerce and power made presentations during the meeting.

• Fino Payments Bank said Rishi Gupta will cease to be its managing director and chief executive officer after the bank accepted his early retirement request.
• The bank said it believes no prima facie case may be made out against Gupta, according to an exchange filing.
• Fino Payments Bank extended the tenures of interim CEO Ketan Merchant and interim CFO Anup Agarwal by three months each.

• Indian Oil has directed dealers not to restrict petrol and diesel sales unless state governments or local authorities issue specific orders, according to an internal communication accessed by NDTV Profit.
• The company said it has not issued any fuel rationing instructions and warned that violations would be viewed seriously.
• Indian Oil said fuel offtake has risen as bulk consumers shift to retail pumps, and assured dealers of adequate petrol and diesel availability across its network.

• Iran’s supreme leader has ordered that the country’s stockpile of near-weapons-grade enriched uranium must remain within Iran, Reuters reported, citing two senior Iranian sources.
• The directive marks Tehran’s position against a key U.S. demand in ongoing talks. Reuters reported that alternatives, including dilution under IAEA supervision, are being discussed.

• GIFT Nifty traded at 23,688, compared with Thursday’s Nifty 50 close of 23,654.70.
• The early indicator was 33.3 points above the previous close.

• Oil prices rose in early Asian trade on Friday as investors reassessed expectations around U.S.-Iran negotiations.
• Brent crude futures for July gained 1.9% to $104.52 a barrel, while U.S. West Texas Intermediate futures for June rose 1.5% to $97.81 a barrel.

• Asia-Pacific markets opened higher on Friday as investors tracked diplomatic efforts between the U.S. and Iran over a possible peace deal in the Middle East.
• Japan’s Nikkei 225 rose 1.36%, while the Topix gained 0.55%. South Korea’s Kospi added 0.52%, the Kosdaq rose more than 3%, and Australia’s S&P/ASX 200 advanced 0.5%.
• Japan’s core inflation slowed to 1.4% in April, below the 1.7% forecast and March’s 1.8% reading.