Stock Market Highlights: Nifty, Sensex End Lower After Range-Bound Trade

• Nifty closed below 23,650, down over 0.2%, with Kotak Mahindra Bank and Tata Consumer Products among top losers.

• Broader markets outperformed, with Nifty Midcap 150 rising over 0.5% and Smallcap 250 gaining more than 1%, snapping two-day declines.

• Nifty IT was the top sectoral gainer, up over 3%, driven by stocks like Coforge and Infosys.

• Nifty Financial Services led losses, while Bank and Metal indices extended declines for a third straight session.

• Pharma index extended gains for the fifth day, while Oil & Gas, PSU Bank and Realty indices recovered after recent declines.

• Benchmark indices ended the session marginally lower, with Nifty at 23,618, down 0.14%, and Sensex at 75,200.85, lower by 0.15%.
• The indices closed in negative territory after trading in a narrow range through the session.

• Bharat Electronics reported a 4.6% rise in Q4 consolidated net profit to Rs 2,225 crore, with revenue up 11.7% to Rs 10,224 crore.

• Ebitda grew 5.9% to Rs 2,982 crore, while margins fell to 29.2% from 30.8%.

• Other income declined to Rs 110 crore from Rs 195 crore a year ago.

• The order book stood at Rs 73,882 crore as of March 31, 2026.

• Bharat Electronics reported a 4.7% rise in Q4 standalone net profit to Rs 2,203 crore, while revenue increased 11.6% to Rs 10,177 crore.
• Ebitda grew 6.2% to Rs 2,962 crore, while margins declined to 29.1% from 30.6%.

• Dhanuka Agritech said it saw a rise in input costs due to high crude prices, which affected product availability.

• The company said it will roll back price hikes announced in May as the market did not accept the increase.

• It noted higher production at its Udhampur unit and plans to launch bio-stimulants in the second half of June.

• The company also flagged a potential El Nino impact in the later part of the Kharif season.

• PepsiCo India plans to invest up to Rs 5,700 crore by 2030 to expand manufacturing capacity, particularly in its foods business.

• The investment will be directed towards facilities in Madhya Pradesh, Assam and Tamil Nadu.

• Some projects, including plants in Madhya Pradesh and Assam, are expected to become operational in the coming months.

• Lloyds Engineering Works has received a no-objection certificate from NSE for the merger of three companies into the entity.
• The update was disclosed through an exchange filing.

• The Bureau of Indian Standards has issued norms for higher ethanol blends, covering E22, E25, E27 and E30 petrol.

• The blends specify ethanol content ranging from 22% to 30%, with the balance as gasoline.

• BIS has set minimum octane ratings of 95 for E22 and 97 for E25, E27 and E30.

• The regulator has also defined retail labels such as “E22 Petrol”, “E25 Petrol”, “E27 Petrol” and “E30 Petrol”.

New India Assurance said it has received a tax refund of Rs 256 crore for assessment year 2019–20

• Zydus Lifesciences reported an 8.7% rise in Q4 net profit to Rs 1,273 crore, with revenue up 16.2% to Rs 7,587 crore.

• Ebitda declined 11.4% to Rs 1,919 crore, with margins falling to 25.3%.

• The company reported a one-time loss of Rs 398 crore during the quarter.

• Ebitda for the quarter was adjusted for a forex gain.

Brent crude for July delivery fell 2.04% to $109.81 per barrel, while WTI for June declined 1.12% to $107.44.

• RITES reported a 2.1% decline in Q4 net profit to Rs 130 crore, while revenue rose 27.6% to Rs 768 crore.

• Ebitda fell 9.4% to Rs 168.2 crore, with margin declining to 21.9%.

• The company announced a final dividend of Rs 2.75 per share.

• CAC 40 rose 0.59%, while Germany’s DAX gained 0.95%, leading major European indices higher.

• FTSE 100 advanced 0.51% and STOXX Europe 600 was up 0.57%.

• Spain’s IBEX 35 and Italy’s FTSE MIB also traded in positive territory with modest gains.

• Indraprastha Gas said it expects domestic PNG demand to grow 20–30% over the next few years, supported by government push, and added 1.5 lakh connections recently.

• The company guided FY27 capex at Rs 1,400–1,500 crore, with demand remaining strong across industrial and commercial segments.

• It said recent price hikes aim to maintain margins at Rs 7–8 per scm, with no impact seen on car conversions.

• The company also noted that geopolitical developments affected earnings, while gas sourcing costs remain around Rs 39–40 per scm.

• SEBI has clarified that investors can pledge shares held under non-discretionary PMS to take loans, with ownership remaining with the client.

• The regulator said the decision to pledge shares must be taken by the investor and not the portfolio manager.

• Portfolio managers cannot take loans on behalf of clients, while pledged shares will continue to be counted in assets under management until the pledge is invoked.

• Nifty rose up to 0.6% during the session, hitting an intraday high near 23,732, while Sensex gained about 431 points to 75,746.
• Indices continued to trade higher, with Nifty around 23,706 and Sensex near 75,512, maintaining gains.

• BSE is not part of the NSE 100 index and hence is not eligible for inclusion in the Nifty 50 in the current review, according to sources.
• The update comes after earlier expectations flagged potential inclusion in the benchmark index.

• Wonderla Holidays reported a 49.1% rise in Q4 net profit to Rs 16.4 crore, while revenue increased 40.3% to Rs 136 crore.

• Ebitda rose 31.6%, though margins declined to 39.8% due to higher raw material and operating costs.

• Growth was driven by higher footfall and increase in average ticket and non-ticket prices, with resort business revenue rising sharply.

• The company also reported strong performance across parks, with expansion through new resort and park operations.

• Around 13.2 lakh shares of ICICI Bank changed hands in a block deal, according to Bloomberg data.
• The identities of the buyers and sellers were not immediately known.

• Hindustan Copper said it expects strong growth in copper demand, with data centres seen as a key driver.

• The company said it benefited from LME price movements in Q4 and added green capacity, supporting margins.

• It also said it increased sales towards the end of March, while flagging that rupee depreciation was not a major concern.

• Dhanuka Agritech reported a 29.8% year-on-year rise in Q4 net profit to Rs 97.5 crore, with revenue up 9.3% to Rs 483 crore.

• Ebitda increased 4.8% to Rs 132 crore, while margins eased to 27.3%.

• The board approved a buyback of 5 lakh shares at Rs 1,400 per share.

• Indian airlines including Air India, IndiGo and SpiceJet have asked state-run refiners to delay any increase in jet fuel prices for domestic flights.

• The request comes amid rising costs and losses, with discussions involving the oil ministry, according to sources.

• A decision on the proposal is expected before June 1.

Source: Bloomberg

• Market expert Gurmeet Chadha said macro headwinds have eased and operational performance has improved for chemical companies, with interest in select agrochemical stocks.

• He noted that foreign investors have reduced exposure to private sector banks, with performance remaining soft in the segment.

• FIIs have increased exposure to energy and healthcare stocks, while auto ancillary stocks are seeing mixed trends.

• He also flagged potential price hikes in FMCG due to inflation and said refinery companies remain preferred for earnings visibility.

• Benchmark indices touched day’s high, with Nifty rising around 0.6% and Sensex gaining about 431 points.

• Sensex reached 75,746.27, while Nifty recorded gains of around 132 points during the session.

• The Supreme Court asked the High Court to decide on SpiceJet’s plea to submit a title deed instead of a cash deposit in the Maran arbitration case.

• The airline is required to deposit Rs 145 crore in the case.

• The court said the decision should consider the government’s emergency credit support framework for airlines.

Source: Informist

• The government is considering asset sales, divestment and a spectrum auction to boost FY27 revenue, according to sources.

• It aims to maintain capital expenditure levels and avoid reducing planned spending.

• Non-urgent schemes may be deferred, with focus on essential expenditure.

• The government is also looking to avoid increasing market borrowing, at least in the first half of FY27.

Source: Informist

• Indian Oil said it expects capital expenditure of Rs 32,700 crore in FY27, compared with Rs 32,405 crore in FY26.
• The company plans to expand Panipat refinery capacity to 25 MMTPA by December and Gujarat refinery to 18 MMTPA by November.

• Taxi and auto driver unions in Delhi have called a strike from May 21 to May 23, seeking a fare revision amid rising fuel prices.

• The unions said fares have not been increased for several years despite higher costs of CNG, petrol and diesel.

• The move follows a representation to authorities, with drivers warning of further protests if demands are not addressed.

Source: PTI

• UBS downgraded BSE to neutral from buy and set a target price of Rs 4,500.

• The brokerage said RBI’s tighter lending rules for capital market intermediaries from July 1, 2026 could reduce volumes by 5–10%.

• It also noted that recent volatility-led spike in trading volumes and upcoming regulations may impact the sustainability of volume growth.

• Bajaj Auto and Jindal Steel appeared among counters witnessing fresh short build-up.
• The stocks declined during the session while open interest rose.
• Vedanta and Cipla also featured among stocks seeing bearish derivatives positioning.

• Astral and Amber Enterprises featured among stocks witnessing fresh short additions in futures trade.
• Both counters declined while open interest increased.
• GAIL and Dalbharat also appeared in the fresh shorts basket.

• Suzlon and Motilal Oswal Financial Services appeared among counters witnessing short covering activity.
• The stocks gained alongside declining open interest levels.
• Phoenix Mills and Bank of Baroda also featured in the list.

• Indian Hotels and Dabur featured among stocks witnessing short covering activity.
• Both counters advanced during the session while open interest declined in futures trade.
• IREDA and SBI Cards also showed similar trends.

• DMart and LIC Housing Finance witnessed long unwinding activity in the latest derivatives data.
• The stocks declined alongside lower open interest levels.
• Vedanta and AU Small Finance Bank also appeared in the liquidation basket.

• Hyundai Motor India and Bandhan Bank appeared among counters witnessing liquidation in futures positioning.
• Both stocks declined while open interest also eased during the session.
• Coal India and ONGC also featured in the long unwinding category.

• OFSS and Adani Power featured among stocks witnessing fresh long build-up.
• The counters gained during the session while open interest also increased.
• HDFC AMC and Divi's Laboratories additionally showed similar trends.

• PB Fintech, which operates Policybazaar, and Nykaa appeared among stocks witnessing fresh accumulation activity in futures trade.
• Both counters advanced alongside rising open interest, signalling fresh long positioning.
• Power India and Tech Mahindra also featured in the accumulation basket.

• ONGC and Godrej Consumer Products recorded strong increases in Call and Put open interest since the previous expiry.
• ONGC Call open interest rose more than 378%, while Godrej Consumer Products Call open interest surged over 792%.
• Both counters also advanced in the cash market.

• Wipro and Persistent Systems featured among stocks witnessing strong open interest increases since the last expiry.
• Wipro total derivatives open interest climbed 172.79%, while Persistent Systems recorded a 114.13% increase.
• PI Industries and Naukri also saw elevated derivatives positioning.

• Nifty Financial Services recorded one of the sharpest increases in derivatives positioning since the previous expiry cycle.
• Call open interest surged 1,053.45%, while Put open interest jumped 703.34%.
• Total derivatives open interest rose 665.51%.

• Nifty 50 total derivatives open interest surged 215.93% since the previous expiry despite the index declining 8.62%.
• Call open interest rose 208.23%, while Put open interest climbed 242.59%.
• The data indicated aggressive hedging and elevated derivatives participation ahead of weekly expiry.

• Nifty Bank monthly options positioning showed the 53,000 strike carrying the largest Put open interest base.
• Fresh Put additions also remained elevated at the strike.
• The 54,000 strike additionally witnessed strong Put accumulation.

• Nifty Bank monthly options data showed aggressive Call positioning at the 53,500 strike.
• The strike witnessed the highest fresh Call additions, while overall Call open interest also remained elevated around the level.
• The 54,000 strike also saw sizeable resistance positioning.

• Nifty monthly options positioning showed the 23,700 strike carrying the highest Put open interest concentration.
• Fresh Put additions also remained strong at the strike.
• The 23,500 and 23,600 strikes additionally saw notable Put build-up, indicating support in the lower range.

• Nifty monthly options data continued to show the 24,000 strike as the biggest resistance zone.
• Fresh Call additions remained elevated at the strike, while overall Call open interest was highest around 24,000 and 24,500.
• The 23,700 strike also saw sizeable positioning activity.

• Nifty Bank weekly options data showed the 53,000 strike witnessing the strongest Put additions and overall Put open interest.
• The 54,000 strike also carried elevated Put open interest positioning.
• The data indicated traders were building support expectations around the 53,000 zone ahead of expiry.

• Nifty Bank weekly options positioning showed aggressive Call additions at the 53,500 strike.
• The strike also carried one of the highest Call open interest bases for the weekly expiry.
• The 54,000 strike additionally witnessed sizeable Call accumulation, signalling resistance at higher levels.

• The 23,700 strike emerged as the strongest support zone in Nifty weekly options data.
• Fresh Put additions remained highest at the strike, while overall Put open interest also stayed concentrated between 23,500 and 23,700.
• The data indicated traders were defending lower levels aggressively into weekly expiry.

• Nifty weekly options data showed aggressive Call writing at the 23,800 strike ahead of the weekly F&O expiry.
• The strike witnessed the highest fresh Call additions, while overall Call open interest also remained elevated at 23,800 and 24,000.
• The positioning suggested traders were placing a near-term ceiling around the 23,800–24,000 zone.

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• Bread prices have been increased by some manufacturers due to higher packaging and freight costs, according to Nuvama.

• Modern Bread has raised prices by Rs 5, while other players including Britannia and Wibs are expected to follow.

• The brokerage said the development is positive for Britannia and added that price hikes may also extend to biscuits.

• Benchmark indices opened higher, with Nifty rising up to 0.4% to 23,734 and Sensex gaining 0.5% or 340 points to 75,656.
• The move follows a largely unchanged close in the previous session.

• Rupee strengthened by over 5 paise after opening, after slipping to a record low of 96.40 per dollar.

• The currency opened flat compared to the previous close of 96.36 per dollar.

• Rupee has depreciated 7.1% so far in 2026, making it the worst-performing Asian currency this year.

Indian rupee hits fresh record low against the US dollar. The local currency depreciated as much as 4 paise to 96.39 against the greenback.

Nifty 50 was at 23,622.95, down 0.11%, while Sensex stood at 75,255.94, lower by 0.08 during the pre-market trading session.

• HSBC said a reduction in VAT on aviation turbine fuel covering 37% of domestic consumption could lower fuel costs for airlines.

• Estimated savings include Rs 1,200–1,500 crore for IndiGo, Rs 800–1,000 crore for Air India, and smaller benefits for SpiceJet and Akasa.

• The brokerage flagged continued rupee depreciation and higher oil prices as key risks for the aviation sector.

• Jefferies maintained a buy rating on Adani Power with a target price of Rs 255.

• The brokerage said free cash flow is expected to turn positive by FY30, supported by capacity expansion to 31 GW.

• It noted a reduction in merchant exposure as capacity gets tied to PPAs, lowering risk.

• Jefferies expects Ebitda growth over FY26–FY30, with improvement in cash generation over the period.

• Goldman Sachs maintained a neutral rating on Amber Enterprises and cut the target price to Rs 6,800 from Rs 7,360.

• The brokerage flagged a challenging macro environment alongside ongoing capital expenditure.

• It said execution of new verticals and profitability improvement remain key factors to monitor.

• HSBC maintained a buy rating on Dr Reddy’s Laboratories and raised the target price to Rs 1,480 from Rs 1,410.

• The brokerage said growth drivers remain in place, with execution seen as key.

• It highlighted opportunities in semaglutide across markets despite competition concerns.

• The planned launch of an abatacept biosimilar in the US is expected to support future revenue.

• Macquarie maintained an outperform rating on Indraprastha Gas with a target price of Rs 220 after Q4 results.

• The brokerage said volumes remained stable, but margins missed expectations.

• It flagged that pressure on volumes and margins may continue in the near term.

• Prices of select cigarette variants, including Godfrey Phillips’ Pocket Marlboro and ITC’s Gold Flake Superstar, have been increased, according to B&K Securities.
• These variants account for about 8–12% of the companies’ overall sales.

• Goldman Sachs maintained a neutral rating on Infosys with a target price of Rs 1,290 after meeting management.

• The brokerage highlighted a soft discretionary spending environment, with strength in BFSI and EURS segments and continued deal wins.

• Infosys indicated some AI-driven pricing pressure in parts of the value chain, which it expects to offset through new opportunities.

• The company also sees scope to partner with AI model providers as enterprises increase adoption.

• Jefferies maintained a buy rating on JSW Energy and raised the target price to Rs 675 from Rs 660.

• The brokerage flagged improved execution after a miss in FY26 and said monetisation could help reduce leverage and fund growth.

• It expects Ebitda to grow at a CAGR of 17% over FY26 to FY30.

• Goldman Sachs maintained a buy rating on KIMS and raised the target price to Rs 1,025 from Rs 1,000 after Q4 results.

• The brokerage said performance was in line and highlighted progress in operations.

• It expects strong revenue growth over FY25–FY28, supported by ramp-up of new hospitals.

• Goldman Sachs maintained a buy rating on Paytm with a target price of Rs 1,400, citing growth across multiple segments.

• The brokerage expects revenue growth to accelerate in FY27, supported by operating leverage.

• It sees a path to 15–20% Ebitda margin over the next 2–3 years, with strong growth in payments and merchant lending.

• Marketing services are also expected to return to growth, led by advertising and travel ticketing.

• Kotak Securities maintained a buy rating on TCS with a target price of Rs 3,100 after interaction with the company’s CFO.

• The brokerage said enterprise adoption of AI remains at an early stage, with most companies yet to scale usage.

• It highlighted risks of revenue deflation if pricing shifts from effort-based to outcome-based models.

• Kotak said vendor consolidation is benefiting TCS, though margin headwinds from wage hikes, productivity commitments and acquisitions remain.

• Citi maintained a sell rating on TVS Motor with a target price of Rs 3,000.

• The brokerage expects a sharp increase in investments and capital expenditure in FY27, which may impact the balance sheet.

• It said the company remains in a net debt position and flagged limited clarity on the rationale and synergies of the TVS Credit Services deal.

• Citi maintained a buy rating on UltraTech Cement with a target price of Rs 14,750.

• The brokerage expects India cement demand to grow around 7% in FY27.

• It said cost pressures may be offset by fuel mix changes and price hikes.

• UltraTech’s capacity expansion is expected to take over a year to break even.

• Goldman Sachs maintained a buy rating on Uno Minda but reduced the target price to Rs 1,440 from Rs 1,500 after Q4 results.
• The brokerage said performance was in line and flagged higher investments in the electric vehicle segment as a key trigger for FY27 and FY28.

• Goldman Sachs maintained a neutral rating on Urban Company with a target price of Rs 140, citing strong growth alongside elevated near-term investments.

• Core services continue to grow, with part of the portfolio reporting Ebitda margins of around 8%, while InstaHelp is scaling but impacting profitability.

• The brokerage expects margins in the native business to improve over the medium term and international margins to move closer to domestic levels with a lag.

• JPMorgan said Q4FY26 earnings were better than expected, but management commentary highlighted risks from macro conditions, logistics and pricing.

• The brokerage expects pressure on Q1FY27 earnings due to higher input costs and currency weakness, while FY27 outlooks remain unchanged for now.

• It upgraded Industrials to overweight citing government-led infrastructure spending and manufacturing expansion.

• The firm said inflation and weather risks remain key factors for demand, and set Nifty-50 targets at 20,500 in the bear case, 27,000 base case and 30,000 bull case.

• Nifty is expected to open flat to slightly higher, with support from easing oil prices after the US delayed a strike on Iran.

• Asian markets opened higher and US futures stabilised after recent declines, while gold extended gains.

• Rising bond yields and a second fuel price hike remain key factors for the session.

• Institutional flows stayed supportive with FIIs continuing as net buyers, while expiry dynamics may keep trading range-bound.

• Indraprastha Gas reported a 2.6% sequential rise in revenue to Rs 4,150 crore, while net profit fell 23% to Rs 277 crore.

• Ebitda declined 11%, with unit margins falling to Rs 4.8 per scm due to higher gas costs.

• Total sales rose 2.8% during the quarter, while gas costs increased.

• The company raised CNG prices in May to partly offset higher input costs.

• Indian Oil reported a 1.7% sequential rise in revenue to Rs 2.08 lakh crore, while net profit declined 6% to Rs 11,378 crore.

• Ebitda remained largely flat, with margins at around 10%.

• The company saw support from inventory gains and higher refinery throughput during the quarter.

• Petrochemical segment Ebit recovered from a loss in the previous quarter.

• US President Donald Trump is scheduled to sign executive orders at 4:30 pm ET on Tuesday, according to Bloomberg.
• No further details on the orders were available at the time of the update.

• Hindustan Copper reported a sharp rise in Q4 revenue to Rs 1,156 crore and net profit to Rs 444 crore, with Ebitda margin at 54.3%.

• The company said higher copper prices, improved ore production and better sales volumes supported earnings during the quarter.

• For FY26, revenue rose to Rs 3,078 crore and net profit to Rs 921 crore, with margin expansion.

• The board recommended a final dividend of Rs 1.86 per share, while expansion plans and production growth remain in focus.

Astral (Q4, Consolidated YoY)

• Revenue up 24.2% to Rs 2,089 crore versus Rs 1,681 crore.

• Ebitda up 26.8% to Rs 383 crore versus Rs 302 crore.

• Margin at 18.3% versus 18.0%.

• Net profit up 18.8% to Rs 213 crore versus Rs 179 crore.

• Board declared dividend of Rs 2.50/share; Sandeep Engineer reappointed as MD.

GIC Housing (FY26, YoY)

• Total income down 1% to Rs 1,083 crore versus Rs 1,089 crore.

• Net profit down 4% to Rs 154 crore versus Rs 160 crore.

• Total disbursements up 29% to Rs 2,299 crore.

Gujarat Narmada (Q4, Consolidated YoY)

• Revenue up 7.4% to Rs 2,208 crore versus Rs 2,055 crore.

• Ebitda up 100.8% to Rs 482 crore versus Rs 240 crore.

• Margin at 21.8% versus 11.7%.

• Net profit up 87.7% to Rs 396 crore versus Rs 211 crore.

• Board declared dividend of Rs 21/share.

DOMS Industries (Q4, Consolidated YoY)

• Revenue up 18.7% to Rs 604 crore versus Rs 509 crore.

• Ebitda up 14.4% to Rs 101 crore versus Rs 88.3 crore.

• Margin at 16.7% versus 17.3%.

• Net profit up 17.1% to Rs 56.7 crore versus Rs 48.4 crore.

• Board declared dividend of Rs 3.65/share; Santosh Raveshia reappointed as MD for five years.

Triveni Turbine (Q4, Consolidated YoY)

• Revenue up 26.3% to Rs 680 crore versus Rs 538 crore.

• Ebitda up 6.3% to Rs 128 crore versus Rs 120.4 crore.

• Margin at 18.8% versus 22.4%.

• Net profit up 8.5% to Rs 102 crore versus Rs 94 crore.

HLE Glascoat (Q4, Consolidated YoY)

• Revenue up 17.4% to Rs 392 crore versus Rs 334 crore.

• Ebitda down 17.6% to Rs 42.8 crore versus Rs 52 crore.

• Margin at 10.9% versus 15.6%.

• Net profit down 33.5% to Rs 18.2 crore versus Rs 27.3 crore.

SEAMEC (Q4, Consolidated YoY)

• Revenue up 63.8% to Rs 327.1 crore versus Rs 200 crore.

• Ebitda up 96.1% to Rs 159.1 crore versus Rs 81.2 crore.

• Margin at 48.7% versus 40.7%.

• Net profit up 140.7% to Rs 103.5 crore versus Rs 43 crore.

• Board declared dividend of Rs 2/share.

Shivalik Bimetal (Q4, Consolidated YoY)

• Revenue up 22.8% to Rs 162.6 crore versus Rs 132.4 crore.

• Ebitda up 24.5% to Rs 35.5 crore versus Rs 28.5 crore.

• Margin up 29 bps to 21.8% versus 21.5%.

• Net profit up 24% to Rs 26.1 crore versus Rs 21 crore.

• Board declared dividend of Rs 2/share.

• Pune facility launch deferred due to pending approvals.

Subros (Q4, Consolidated YoY)

• Revenue up 15.6% to Rs 1,050 crore versus Rs 908 crore.

• Ebitda down 0.4% to Rs 92.4 crore versus Rs 92.8 crore.

• Margin at 8.8% versus 10.2%.

• Net profit up 6.8% to Rs 49.3 crore versus Rs 46.2 crore.

• Board declared dividend of Rs 3/share.

GE Vernova (Q4, YoY)

• Revenue up 42% to Rs 1,637 crore versus Rs 1,153 crore.

• Ebitda up 76.4% to Rs 445 crore versus Rs 252 crore.

• Margin at 27.2% versus 21.9%.

• Net profit up 88.6% to Rs 352 crore versus Rs 187 crore.

• Board declared dividend of Rs 10/share.

Afcons Infra (Q4, Consolidated YoY)

• Revenue down 18.9% to Rs 2,614 crore versus Rs 3,223 crore.

• Ebitda down 85.4% to Rs 43 crore versus Rs 294 crore.

• Margin at 1.6% versus 9.1%.

• Net loss at Rs 88.4 crore versus profit of Rs 111 crore.

• Board declared dividend of Rs 2/share.

• Srinivasan Paramasivan reappointed as MD for two years.

• Approved raising up to Rs 250 crore via NCDs or bonds.

Indraprastha Gas (Q4, Consolidated QoQ)

• Revenue up 2.3% to Rs 4,163 crore versus Rs 4,068 crore.

• Ebitda down 10.6% to Rs 421.1 crore versus Rs 470.9 crore.

• Margin at 10.1% versus 11.6%.

• Net profit down 13.5% to Rs 341 crore versus Rs 394 crore.

63 Moons Tech (Q4, Consolidated QoQ)

• Revenue up 400.7% to Rs 133.7 crore versus Rs 26.7 crore.

• EBIT loss at Rs 85.1 crore versus loss of Rs 72.1 crore.

• Net profit at Rs 22.5 crore versus loss of Rs 19.8 crore.

• One-time gain stood at Rs 94.7 crore.

Baazar Style Retail (Q4, Consolidated YoY)

• Revenue up 34.9% to Rs 466 crore versus Rs 345 crore.

• Ebitda up 21.3% to Rs 48.2 crore versus Rs 39.7 crore.

• Margin at 10.3% versus 11.5%.

• Net loss at Rs 25.7 crore versus loss of Rs 6.4 crore.

• Company to allot 15 lakh shares on warrant conversion.

Puravankara (Q4, Consolidated YoY)

• Revenue up 177.1% to Rs 1,502 crore versus Rs 542 crore.

• Ebitda up 888.5% to Rs 301.5 crore versus Rs 30.5 crore.

• Margin at 20.1% versus 5.6%.

• Net profit at Rs 110 crore versus loss of Rs 88 crore.

JK Paper (Q4, Consolidated YoY)

• Revenue up 17.2% to Rs 1,966 crore versus Rs 1,677 crore.

• Ebitda up 27.1% to Rs 276.5 crore versus Rs 217.5 crore.

• Margin at 14.1% versus 13%.

• Net profit up 35.8% to Rs 92 crore versus Rs 67.8 crore.

• Board declared dividend of Rs 4/share.

Sun Pharma Advanced (Q4, Consolidated YoY)

• Revenue up 6,712% to Rs 1,853.2 crore versus Rs 27.2 crore.

• Ebitda at Rs 1,773.2 crore versus loss of Rs 53.2 crore.

• Net profit at Rs 1,763 crore versus loss of Rs 60.2 crore.

Timken India (Q4, Consolidated YoY)

• Revenue up 14.5% to Rs 1,090 crore versus Rs 952 crore.

• Ebitda up 12.9% to Rs 242 crore versus Rs 214 crore.

• Margin at 22.2% versus 22.5%.

• Net profit down 16.8% to Rs 158 crore versus Rs 190 crore.

• Board declared dividend of Rs 2.50/share.

• Approved merger scheme with Timken GGB Tech.

Indian Oil (Q4, QoQ)

• Revenue up 1.7% to Rs 2.07 lakh crore versus Rs 2.04 lakh crore.

• Ebitda down 0.5% to Rs 20,716 crore versus Rs 20,824 crore.

• Margin down 22 bps to 9.96% versus 10.18%.

• Net profit down 6.2% to Rs 11,378 crore versus Rs 12,126 crore.

Ajax Engineering (Q4, YoY)

• Revenue up 0.3% to Rs 758 crore versus Rs 756 crore.

• Ebitda up 1.5% to Rs 114.7 crore versus Rs 113.1 crore.

• Margin up 18 bps to 15.14% versus 14.95%.

• Net profit up 4.4% to Rs 95 crore versus Rs 91 crore.

• Nifty is expected to start the session on a positive note, with GIFT Nifty near 23,708 compared to the previous close of 23,649.

• Supportive global cues and easing concerns around Iran have improved early sentiment across markets.

• Trading is likely to remain volatile due to weekly expiry, with VIX elevated and expiry-related positioning expected to drive intraday swings.

• Earnings from BPCL, Bharat Electronics and Zydus Lifesciences will also be in focus during the session.

Source: Hariprasad K, SEBI-registered Research Analyst and Founder at Livelong Wealth.

• LIC has received shareholder approval to issue bonus shares in a 1:1 ratio.
• The move clears the way for allotment of one bonus share for every existing share held.

• GQG Partners Emerging Markets Equity Fund bought 1.50 crore shares and SBI Mutual Fund acquired 1 crore shares in JSW Steel.

• JSW Energy sold 2.50 crore shares in the company at Rs 1,260 per share.

• In EFC, multiple buyers including Priya Singh Aggarwal and Ragaswaroopa Technologies purchased shares, while Sageone Flagship Growth 2 Fund and Forbes EMF sold shares at prices around Rs 15 per share.

• Price band for Gallantt Ispat, Ideaforge Technology, Media Matrix Worldwide and Quality Power Electrical Equipments reduced from 10% to 5%.
• BN Agrochem, Valor Estate, Jai Balaji Industries, KRN Heat Exchanger & Refrigeration and Baazar Style Retail saw bands cut from 20% to 5%.
• Sakar Healthcare’s price band has been revised from 20% to 10%.

• Sakar Healthcare has been included in the Short-Term ASM Framework Stage.
• Apcotex Industries, BF Utilities, Embassy Developments, Godrej Industries, among others, will be removed from the ASM framework.

• Stylam Industries said promoter Aica Kogyo Company acquired 9.23 lakh shares on May 18.
• In Paisalo Digital, multiple promoter and promoter group entities bought a total of 13.75 lakh shares.

• JSW Cement has adjourned its board meeting to May 21 from May 18 due to time constraints.
• The meeting will consider and approve audited standalone and consolidated results for the quarter and year ended March 31, 2026, as per a regulatory filing.

• The government is working on a plan to introduce water metro services in 18 cities and has circulated a draft policy for consultation.
• The first phase includes cities such as Srinagar, Patna, Varanasi, Ayodhya and Prayagraj, with Assam cities planned in the next phase.
• The initiative aims to use inland waterways for urban transport, with lower infrastructure needs and reduced costs, according to the ministry.

• Ola Electric has rescheduled its board meeting to May 20 from May 18.
• The meeting will consider and approve audited standalone and consolidated results for the quarter and financial year ended March 31, 2026.

• Officials in the agriculture and rural development ministries have decided not to buy gold for one year, except for special occasions such as weddings.
• The move follows a call for austerity and aims to support savings and reduce foreign exchange outflow.
• The decision is voluntary and part of wider steps to cut expenditure and conserve resources, according to an official statement.

Source: PTI

• Adani Green Energy said the US Department of Justice has decided to dismiss charges against the company.
• The order from the US District Court for the Eastern District of New York is awaited, as per an exchange filing.

• VE Commercial Vehicles, an arm of Eicher Motors, approved an increase in its stake in VE Connected Solutions from 51% to 74%.
• The stake will be raised for Rs 1 crore, according to an exchange filing.

• US President Donald Trump said he has called off a planned military strike on Iran after requests from leaders of Qatar, Saudi Arabia and the UAE.
• Trump said the US had been preparing for a major attack but decided to delay it for a short period following discussions with regional powers.
• He added the decision was taken as talks with Iran continue, with the possibility of a deal under discussion.

• Petrol and diesel prices were increased by about 90 paise per litre, marking the second hike in less than a week.
• In Delhi, petrol rose to Rs 98.64 per litre and diesel to Rs 91.58 per litre. Prices also increased across Mumbai, Kolkata and Chennai.
• The latest revision follows a Rs 3 per litre increase announced last week.

• GIFT Nifty was at 23,700.50, compared with the previous Nifty close of 23,649.95.
• The indicator suggests a positive start for the Nifty 50.

• Brent crude for July fell over 2% to $109.15 per barrel, while WTI declined 1.27% to $107.28.
• Prices eased after the US postponed a planned strike on Iran following requests from leaders in Qatar, Saudi Arabia and the UAE.
• The move reduced concerns over immediate disruption to global crude supply.

• Markets in the region moved higher after oil prices eased following the US decision to delay a planned strike on Iran.
• Japan’s Nikkei rose 0.68% and Topix gained 1.16%, while Australia’s ASX 200 advanced 1.08%.
• South Korea’s Kospi fell 1.06%, while Kosdaq was flat. Hong Kong futures traded below the last close of the Hang Seng index.