Stock Market News Today Live Updates: Nifty Above 23,700, Sensex Gains 300 Points; Infosys, Coforge Gain Over 4%

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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.