Why It Moved
Deep dives into the technical and fundamental catalysts driving major security movements across the Indian markets.
Marksans Pharma shares surge 8% after strong Q4 earnings and margin expansion
Shares of Marksans Pharma Ltd surged around 8% on May 26 after the company reported a strong set of Q4FY26 earnings, driven by healthy revenue growth and sharp margin expansion. The stock was trading at ₹235.71, up 7.01% at around 1:01 PM, after touching an intraday high of ₹238.90 on the NSE. Trading volumes also remained strong following the earnings announcement. For the quarter ended March 2026, the company reported consolidated revenue from operations of ₹856.11 crore, compared with ₹708.46 crore in the corresponding quarter last year. Based on the reported financials, EBITDA for Q4FY26 stood at ₹195.42 crore against ₹126.94 crore in Q4FY25. EBITDA margin expanded significantly to 22.8% from 17.9% a year ago. Profit after tax for the quarter rose sharply to ₹149.03 crore from ₹90.73 crore reported in the corresponding period last year. Total income during the quarter increased to ₹891.29 crore from ₹723.80 crore in Q4FY25, while profit before tax climbed to ₹200 crore from ₹116.09 crore a year earlier. Sequentially too, the company reported improvement in performance. Revenue from operations rose from ₹754.43 crore in Q3FY26 to ₹856.11 crore in Q4FY26, while PAT increased from ₹113.69 crore to ₹149.03 crore. The company also reported total comprehensive income of ₹202.97 crore during the quarter compared with ₹117.21 crore in the year-ago period, aided by foreign currency translation gains. Market participants appeared to react positively to the strong profitability growth and margin expansion, helping the stock outperform broader market moves during the session. At the current market price, the stock remains below its 52-week high of ₹270.70, while comfortably above its 52-week low of ₹155. Disclaimer: This article is based on company filings and market data. Investors are advised to consult certified financial advisors before making investment decisions.
Astra Microwave shares surge 5% after Q4 profit jumps 44%, margin expands to 33.3%
Astra Microwave shares rose 5% after the company reported a 44% YoY jump in Q4 profit and announced a dividend of ₹2.40 per share.
Tejas Networks shares rally 6% as reports suggest Tata Sons will present future plans for company at meet today
Tejas Networks shares rallied nearly 6% in early trade on May 26 after an exclusive report by CNBC-TV18, citing sources, said Tata Sons’ board meeting scheduled for today is likely to discuss future business plans for several Tata Group companies, including Tejas Networks. The stock was trading at ₹501.9 apiece on the NSE, up around 6% at the time of publishing. Tejas Networks touched an intraday high of ₹503.3 during the session. According to the CNBC-TV18 report, Tata Sons chairman N Chandrasekaran and company leaders are expected to present business plans for five Tata Group entities, including Air India, Tata Digital, EV infrastructure venture Agastya, Tejas Networks and others. The report also said issues raised by Noel Tata in the previous board meeting are likely to be discussed. The report further noted that the Tata Sons listing issue may also come up for discussion, though the board remains divided on the matter. Sources told CNBC-TV18 that some members, including Venu Srinivasan, have spoken in favour of listing, while certain Tata veterans have expressed concerns that listing could alter the group’s long-standing ethos and values. For Tejas Networks, the discussion around future business plans is being seen positively by investors as it could indicate greater strategic focus and potential investments in the telecom and networking business. The company has been a key Tata Group bet in telecom infrastructure and 5G-related opportunities, particularly after Tata Sons-backed Tata Communications chairman Ganesh Lakshminarayanan also became chairman of Tejas Networks earlier this year. Investor sentiment around Tejas Networks has remained sensitive to developments linked to Tata Group’s telecom and digital ambitions, with markets closely tracking any commentary related to expansion plans, capital allocation and execution roadmap. Disclaimer: This article is for informational purposes only and should not be construed as investment advice.
Bliss GVS shares surge 15%, extend 2-day rally to over 20% after Anupam Rasayan acquisition deal
Bliss GVS Pharma shares surged nearly 15% in early trade on May 26, extending their two-day rally to more than 20%, after specialty chemicals maker Anupam Rasayan announced plans to acquire a controlling stake in the company and launch an open offer for public shareholders. The stock was trading at ₹364.9 on the NSE at the time of publishing this article, hitting a fresh 52-week high during the session. The sharp rally comes after Anupam Rasayan signed a definitive agreement to acquire a 43.3% stake in Bliss GVS Pharma for around ₹1,369.5 crore at ₹299 per share. The acquisition also triggered a mandatory open offer for an additional 26% stake from public shareholders at the same price of ₹299 per share, in line with SEBI takeover regulations. Reports suggest that Anupam Rasayan may eventually acquire up to 74.2% stake in Bliss GVS Pharma through the combination of the share purchase agreement, open offer and additional call option arrangements. Under the deal structure, Anupam Rasayan will acquire 4.58 crore equity shares representing 43.3% stake in Bliss GVS Pharma. The company also holds an option to acquire an additional 4.9% stake from existing shareholders. The Street is viewing the transaction positively as the acquisition would help Anupam Rasayan strengthen its presence across the pharmaceutical value chain. Analysts believe the deal could create an integrated life sciences and specialty pharma platform by combining Anupam Rasayan’s specialty chemicals capabilities with Bliss GVS Pharma’s formulations business. Bliss GVS Pharma is engaged in manufacturing and exporting pharmaceutical formulations including suppositories, tablets, capsules and injectables, with a strong presence in global markets, particularly in Africa and emerging economies. The open offer and change in control expectations have significantly boosted investor sentiment around the stock over the last two trading sessions. Disclaimer: This article is for informational purposes only and should not be construed as investment advice.
Here’s what the street liked about Blue Jet Healthcare’s Q4 results; Stock surges 6%
Blue Jet Healthcare shares rallied over 6% in early trade on May 26 after the company reported a sequentially strong Q4FY26 performance and received positive commentary from brokerage firm Emkay. The stock was trading at ₹511.85 on the NSE at the time of publishing this article. Brokerage firm Emkay maintained its ‘Reduce’ rating on the stock but raised the target price to ₹450 from ₹400 following the Q4 results. The brokerage noted that Blue Jet Healthcare’s Q4FY26 EBITDA came in nearly 20% ahead of estimates, supported by a sharp uptick in contrast media intermediate (CMI) sales and higher gross margins. Emkay also said CMI sales are expected to remain well ahead of expectations in FY27, while pharma intermediates business could see a sharp recovery during the year. The brokerage, however, maintained a cautious stance due to volatility in both core business segments, though it raised FY27E and FY28E EPS estimates by around 12% and 7% respectively. Blue Jet Healthcare reported a strong sequential recovery in profitability during Q4FY26. Revenue stood at ₹235 crore, up 21.96% quarter-on-quarter from ₹192 crore. EBITDA rose nearly 52% QoQ to ₹71 crore compared to ₹47 crore in the previous quarter, while EBITDA margin improved sharply to 30.37% from 24.37%, an expansion of around 600 basis points. Profit after tax (PAT) also increased 60.2% sequentially to ₹64 crore against ₹40 crore in Q3FY26. Earnings per share (EPS) came in at ₹3.71 versus ₹2.32 in the previous quarter. On a year-on-year basis, however, the company’s performance remained under pressure. Revenue declined 31.07% YoY from ₹340 crore, while EBITDA fell 49.08% YoY from ₹140 crore. PAT dropped 41.56% compared to ₹110 crore in Q4FY25. For the full FY26, Blue Jet Healthcare reported revenue of ₹947 crore, down 8.03% YoY. EBITDA for the year stood at ₹294 crore, declining 22.14%, while PAT fell 18.8% to ₹247 crore. Disclaimer: This article is for informational purposes only and should not be construed as investment advice.
Premier Energies shares rally 3% after these funds buy stake via block deal
Premier Energies shares gained nearly 3% in early trade on May 26 after several institutional investors, including Quant Mutual Fund and Nomura India, picked up stake in the company through a large block deal worth around ₹2,291 crore. The stock was trading higher at ₹1,013 on the NSE at the time of publishing this article. According to block deal data, the promoter group sold around 2.4 crore shares, representing nearly 5.3% equity stake, at an average price of ₹955 per share. Among the key buyers, Quant Mutual Fund purchased around 40.84 lakh shares worth nearly ₹390 crore, while Nomura India acquired 25 lakh shares valued at approximately ₹239 crore. Smallcap World Fund and Edelweiss Mutual Fund also bought 24.4 lakh shares and 20.9 lakh shares respectively. Other institutional buyers in the transaction included The Beekeeper Capital, Canara Robeco Mutual Fund and Tata Mutual Fund, among others. The block deal comes shortly after Premier Energies reported strong operational performance and continues to attract investor interest amid optimism around India’s renewable energy and solar manufacturing space. As reported earlier, the company has been benefiting from robust demand trends in the solar segment, while policy support for domestic manufacturing and clean energy transition remains a key long-term growth trigger for the sector. Disclaimer: This article is for informational purposes only and should not be construed as investment advice.
RVNL shares decline 3% after weak Q4 earnings, EBITDA margin slips to 4%
RVNL shares opened nearly 3% lower after the company reported a sharp decline in Q4 profit and EBITDA margin contraction.
Why is Titagarh Rail share price up 10% in trade today? Explained
Titagarh Rail shares rallied nearly 10% after reports suggested Indian Railways may float a ₹40,000 crore tender for 1 lakh wagons.
Yatharth Hospital shares fall 5%: What the Street disliked despite strong Q4FY26 growth
Yatharth Hospital & Trauma Care Services shares fell over 5% on May 25 despite reporting strong double-digit growth in revenue and profit for the March quarter, suggesting investors were concerned about profitability trends and the company’s aggressive expansion-led cost build-up. The stock was trading at ₹818.6, down 5.05%, after touching an intraday low of ₹792.85 on the NSE. The company reported consolidated revenue from operations of ₹341.56 crore for Q4FY26, up sharply from ₹233.03 crore in the corresponding quarter last year. Profit after tax rose to ₹44.70 crore from ₹38.72 crore YoY. However, beneath the headline growth numbers, several pressure points appear to have disappointed the Street. One of the biggest concerns was margin compression. While revenue jumped nearly 47% YoY, operating costs surged at a faster pace due to expansion of new hospitals and ramp-up expenses. Employee benefit expenses climbed to ₹70.10 crore in Q4FY26 versus ₹43.82 crore a year ago, while depreciation and amortisation expenses more than doubled to ₹30 crore from ₹12.87 crore. Other expenses also increased sharply to ₹129.38 crore from ₹86.54 crore. This meant profit growth failed to keep pace with revenue growth. EBITDA margins weakened despite strong occupancy and expansion-led scale-up, which investors may have interpreted as early signs of near-term pressure from aggressive capacity additions. Sequentially too, profitability softened. Profit before tax declined to ₹51.95 crore in Q4FY26 from ₹57.10 crore in Q3FY26 even as revenue increased. This suggests operating leverage is yet to fully emerge from newly commissioned hospitals. Investors also appear cautious about the company’s rapid expansion cycle. During FY26, Yatharth operationalised: A 300-bed hospital in Model Town, Delhi A 400-bed hospital in Faridabad A 150-bed hospital in Agra, expandable to 250 beds. Additionally, the company disclosed that one of its subsidiaries has entered into a binding term sheet to acquire an under-construction 250-bed hospital in Gurugram. While these expansions strengthen long-term growth visibility, the market may be factoring in: Longer gestation periods Initial occupancy ramp-up risks Margin dilution from underutilised assets Higher depreciation and finance costs in the near term Another factor that may have weighed on sentiment was the sharp increase in total assets and ongoing capex intensity. Consolidated assets expanded to ₹2,281.53 crore as of March 31, 2026, from ₹1,731.17 crore a year earlier. Meanwhile, the company reported investing cash outflows of nearly ₹598 crore during FY26, largely linked to expansion and acquisitions. Cash and cash equivalents also declined significantly to ₹220.24 crore from ₹360.22 crore YoY. The continuing Income Tax Department matter disclosed in the filing may also have added to investor caution. The company said assessment orders for AY2014-15 to AY2023-24 had been issued and appeals were filed against them, though management stated it does not expect any material liability. Overall, while Yatharth Hospital delivered strong revenue growth and healthy headline PAT numbers, the Street appears to have focused more on declining operating efficiency, rising costs, heavy capex commitments, and execution risks associated with multiple simultaneous hospital expansions. Disclaimer: This article is for informational purposes only and does not constitute investment advice.
JPMorgan downgrades LTM stock, cuts target price after Randstad Europe deal announcement — stock falls
LTM shares slipped intraday after JPMorgan downgraded the stock and cut its target price following the company’s proposed Randstad Europe acquisition.
Sammaan Capital Lost ₹8,101 Crore in Q4. So Why Is the Stock Up 20% in 5 Days?
Sammaan Capital reported an ₹8,101 crore Q4 FY26 loss yet its stock surged 20% in 5 days. The IHC investment, AA+ rating upgrade, and zero NPA story explain why. Full analysis.
Here’s what got the street excited about Eicher Motors’ Q4 results as stock surges 6%
Eicher Motors shares rallied over 5% after Q4FY26 results beat analysts estimates. Brokerages remain positive on Royal Enfield demand, margins and capacity expansion.
Why are HPCL, BPCL share prices up over 5% today? Explained
HPCL, BPCL and IOC shares rallied up to 6% on Monday after crude oil prices dropped sharply amid hopes of a US-Iran peace agreement and easing Strait of Hormuz tensions.
Weak Q4 results drag Jubilant Pharmova shares nearly 4% from day’s high
Jubilant Pharmova shares came under pressure on Friday after the company reported a mixed set of Q4FY26 earnings, with profitability and margins declining despite strong revenue growth. The stock fell nearly 3.9% from its intraday high of ₹1,025 to a low of ₹988 during the session. At around 2:41 PM, the stock was trading at ₹1,005, down 0.66% for the day. The pharmaceutical company reported a 23% year-on-year decline in net profit to ₹119 crore for the quarter ended March 2026, compared to ₹154 crore in the corresponding quarter last year. Revenue from operations, however, rose 18.8% YoY to ₹2,290 crore against ₹1,928 crore in Q4FY25, indicating healthy business momentum across segments. EBITDA for the quarter came in at ₹339.3 crore, marginally lower by 1.6% compared to ₹345 crore a year ago. EBITDA margin contracted sharply to 14.8% from 17.9% in the year-ago period, reflecting pressure on operating profitability despite higher sales growth. The market reaction appeared to be driven primarily by the margin compression and decline in earnings, even as topline growth remained strong. Investors also tracked the sharp difference between revenue expansion and operating profit trends, which pointed toward higher costs impacting profitability during the quarter. On the stock-specific front, Jubilant Pharmova touched an intraday high of ₹1,025 before witnessing selling pressure. The stock moved within a broad range of ₹988–₹1,025 during the session, while trading volumes crossed 4.24 lakh shares. Jubilant Pharmova operates across pharmaceuticals, radiopharma, contract research and development services, allergy therapy and drug discovery solutions, with business presence across domestic and global markets. Disclaimer: This article is based on company earnings updates and market data. It is intended for informational purposes only and should not be construed as investment advice.
Electronics Mart stock rallies as Q4 profit rises 49%, NCR growth stays strong
Shares of Electronics Mart India Ltd rallied nearly 8% in Friday’s trade after the company posted a strong set of Q4FY26 numbers, aided by healthy demand across categories, improving operating leverage and continued expansion across key markets. The company reported consolidated revenue from operations of ₹1,913 crore for the March quarter, registering a 15% year-on-year growth, while profit after tax surged 49% YoY to ₹40 crore. EBITDA came in at ₹129 crore, up 20% from the year-ago quarter, with EBITDA margin expanding 30 basis points to 6.7%. Electronics Mart said the quarter witnessed double-digit growth across all product categories despite price hikes in larger appliances, while its core clusters continued to deliver steady growth. The company also highlighted margin improvement driven by operating leverage. Operational metrics remained robust during the quarter. Same store sales growth stood at 12.1%, while bill cuts rose 19.5% YoY to 785,000. Average ticket size increased to ₹23,287. The company opened four net new stores during Q4FY26. The company’s NCR business continued to scale up rapidly. Revenue from the Delhi NCR cluster jumped 31% YoY to ₹148 crore during Q4FY26, while same-store sales growth in the region stood at 18.6%, the highest among all clusters. Management also highlighted that the North cluster, where operations began in 2022, is being scaled aggressively using the same cluster-based strategy that helped the company dominate southern markets. The company expects store productivity and margins in the North to gradually align with South cluster benchmarks as scale improves. During FY26, Electronics Mart added 23 net stores, taking its total retail footprint to 223 stores across 95 cities and six states, with a retail area exceeding 1.94 million sq ft. The company also used the investor presentation to emphasise its premium positioning strategy and partnerships with global consumer electronics brands including Apple, Sony, LG, Samsung, Oppo, Vivo, Bosch and Whirlpool. It said its average selling price has risen 19% from FY20 levels to ₹23,125 in FY26, reflecting increasing premiumisation trends. Electronics Mart further noted that mature stores older than four years generated EBITDA margins of 7.3% during FY26, compared with 3.1% for newer stores, indicating scope for profitability improvement as recently opened outlets mature. The company also reported strong cash flow generation, with operating cash flow rising to ₹444 crore in FY26 from ₹176 crore in FY25. Disclaimer: This article is based on company filings and investor presentation details. Investors are advised to consult certified financial advisors before making investment decisions.
What led to the 3% fall in GSFC shares today? Explained
Shares of Gujarat State Fertilizers & Chemicals Ltd (GSFC) fell over 3% in Friday’s trade after the company reported a decline in quarterly profitability and margin compression in its Q4FY26 results. The stock dropped as much as 3.15% to ₹169.20 on the NSE against the previous close of ₹174.70. The counter also witnessed active trading volumes during the session. For Q4FY26, GSFC reported net profit of ₹52 crore, down 27.5% year-on-year from ₹71.7 crore in the corresponding quarter last year. Despite the decline in profit, revenue from operations rose sharply by 37% YoY to ₹2,632.7 crore compared to ₹1,922.2 crore in Q4FY25, indicating stronger topline growth. Operationally, EBITDA increased marginally by 4% year-on-year to ₹83.2 crore from ₹80 crore. However, EBITDA margin declined to 3.2% from 4.2% in the year-ago period, reflecting pressure on profitability despite higher revenues. The margin compression appears to have weighed on investor sentiment, as markets often closely track operational profitability trends in commodity-linked businesses such as fertilisers and chemicals. A lower EBITDA margin generally indicates that cost increases or weaker pricing power offset part of the revenue growth, reducing operating efficiency. In cyclical sectors like chemicals and fertilisers, margins are influenced by factors such as raw material prices, energy costs, subsidy dynamics and product realisations. The decline in net profit despite higher revenues also suggests that earnings growth lagged topline expansion during the quarter. GSFC operates across fertilisers, industrial chemicals and petrochemical products, and remains one of India’s major integrated fertiliser and chemical manufacturers. Disclaimer: This article is based on company-reported financial figures and market data. Investors are advised to consult certified financial advisors before making investment decisions.
Naukri parent Info Edge shares jump 6% after strong Q4 margin expansion
Shares of Info Edge (India) Ltd, the parent company of Naukri, surged over 5% in Friday’s trade after the company reported strong Q4FY26 results marked by healthy revenue growth, sharp margin expansion and robust cash generation. The stock climbed as much as 6.1% intraday to ₹982.95 on the NSE before trading around ₹978.20, up 5.61% from the previous close. The counter also witnessed elevated trading activity, with over 26 lakh shares changing hands during the session. The rally came after the company reported standalone revenue from operations of ₹805.1 crore for Q4FY26, registering a 17.2% year-on-year increase. Operating profit for the quarter rose 39.4% YoY to ₹322.7 crore, while operating margin expanded sharply to 40.1%. On a sequential basis, EBITDA margin improved to 38.4% from 35.92% in the previous quarter. At the consolidated level, net sales stood at ₹869 crore in Q4FY26 compared to ₹749.6 crore in the year-ago period. Profit before tax, excluding exceptional items, came in at ₹798.5 crore versus ₹716.1 crore last year. The company also continued to generate strong cash flows, with standalone cash from operations before taxes reaching ₹621.1 crore during the quarter. Investors also tracked the performance of the recruitment business, which remains Info Edge’s largest vertical. Recruitment business billings stood at ₹811 crore in Q4FY26, while operating profit came in at ₹340 crore with operating margins of 58.5%. Naukri maintained strong platform metrics during the quarter, including over 115 million resumes in its database and around 666,000 active job listings. Management commentary also remained constructive. Managing Director and CEO Hitesh Oberoi said the company witnessed improving operating margins during FY26, especially in the recruitment business, while continuing to deepen AI integration across matching, recommendations and new AI-native products. The company further noted that 99acres and Jeevansathi continued gaining market share during the year. Despite the sharp recovery in Friday’s session, the stock still remains below its 52-week high of ₹1,550. Disclaimer: This article is based on company filings, management commentary and market data. Investors are advised to consult certified financial advisors before making investment decisions.
Here’s what the street cheered about Honasa Consumer’s Q4 results and what analysts say
Honasa Consumer shares surged over 6% today after the company delivered a strong Q4FY26 performance that exceeded Street expectations on both growth and profitability fronts. The stock climbed as much as 10.4% intraday to hit a fresh 52-week high of ₹398 on the NSE before trimming gains. At around 11:13 AM, the stock was trading 6.19% higher at ₹382.80. The rally followed Honasa Consumer’s robust March quarter earnings , where the company reported 28% year-on-year revenue growth to ₹682 crore, while EBITDA and PAT more than doubled. The company also announced its maiden final dividend of ₹3 per equity share. Brokerages highlighted three major positives from the quarter — improving growth in the flagship Mamaearth brand, continued momentum in younger brands and sharp margin expansion driven by operating leverage. CLSA maintained its “Outperform” rating on the stock with a target price of ₹434. The brokerage said Honasa reported revenue growth of 23% YoY, or 28% excluding accounting changes, which was ahead of both its estimates and Street consensus. According to CLSA, volume growth stood at 30%, while EBITDA margin expanded by over 650 basis points year-on-year, leading to EBITDA beating estimates by a wide margin. The brokerage noted that Mamaearth returned to mid-teen growth and management expects double-digit momentum to continue. CLSA also pointed to strong offtake growth of around 30% YoY across general trade and modern trade channels, indicating improving brand traction. Another key positive highlighted by CLSA was the operating leverage-led profitability improvement, with EBITDA margin exceeding expectations by over 140 basis points. The brokerage said it remains constructive on Honasa’s long-term brand scaling opportunity across focus categories and hero SKUs. Jefferies also reiterated its “Buy” rating on the stock and assigned a target price of ₹565. The brokerage said Honasa appears to have moved past its most challenging phase related to distribution realignment and is now firmly back on a strong growth trajectory. Jefferies highlighted that the fourth quarter showed improving performance across the board, including mid-teen growth in Mamaearth, continued strong momentum in younger brands and record-high margins. The brokerage added that management’s guidance of high-teen revenue growth along with annual EBITDA margin expansion of around 100 basis points strengthens the long-term compounding narrative for the company. Management commentary also remained optimistic, with the company saying its investments in AI-led content systems, innovation and offline distribution are beginning to translate into stronger execution quality and sustained profitable growth. Disclaimer: This article is based on brokerage reports, company commentary and market data. Investors are advised to consult certified financial advisors before making investment decisions.
Here’s why Aurobindo Pharma fell over 5% today despite good profit and revenue growth in Q4
Aurobindo Pharma shares fell over 5% in Friday’s trade after the company reported a muted operational performance for Q4FY26, with weakness in the key US business and margin pressure weighing on investor sentiment. The stock declined as much as 5.02% to ₹1,469.10 on the NSE against the previous close of ₹1,546.70. The stock also slipped from its 52-week high of ₹1,550 touched recently. For Q4FY26, Aurobindo Pharma reported consolidated revenue of ₹8,853 crore, up 5.6% year-on-year. EBITDA stood at ₹1,801 crore, rising marginally by 0.5% YoY, while EBITDA margin declined 110 basis points to 20.3%. Net profit for the quarter came in at ₹921 crore, up 2% YoY. Investor concerns largely centred around the company’s US formulations business, which declined 13% year-on-year during the quarter. Management attributed the fall to seasonality and lower transient product sales in the US market, which remains the company’s largest geography. On the other hand, Europe business posted strong growth of 30.2% YoY, while the Non Beta-lactam API segment surged 55.4% YoY, partly offsetting weakness in the US operations. The company also highlighted ongoing strategic investments, including the acquisition of Khandelwal Labs’ non-oncology business for US$32 million and planned capital expenditure of US$150-175 million towards a new biologics facility under TheraNym. During the earnings call, management said it expects EBITDA margin to improve to above 21% in FY27 and indicated that US formulations revenue could reach around US$2 billion over the next couple of years. Aurobindo Pharma also said a key biosimilar candidate, Omalizumab, met all primary endpoints in Phase 3 trials, paving the way for regulatory filings. As of March 31, 2026, the company maintained a net cash balance of US$317 million. Disclaimer: This article is based on company-reported financial figures, management commentary and market data. Investors are advised to consult certified financial advisors before making investment decisions.
Manali Petrochemicals shares jump 13% after strong Q4 earnings boost sentiment
Manali Petrochemicals shares surged 13% after the company reported strong Q4 FY26 earnings with higher revenue and profit growth.
Here’s why WeWork shares jumped over 7% in trade today
WeWork India shares surged over 7% in Thursday’s trade after the company reported a sharp rise in profit and revenue for the fourth quarter of FY26, supported by strong operational performance and sustained demand for managed office spaces. The stock climbed as much as 7% intraday after the company announced its quarterly earnings, with investors reacting positively to the improvement in profitability and steady margin performance. For Q4FY26, the company reported net profit of ₹65 crore, marking a 78% year-on-year increase from ₹37 crore reported in the corresponding quarter last year. Revenue from operations rose 27% YoY to ₹705 crore compared to ₹555 crore in Q4FY25, reflecting continued momentum in enterprise demand and workspace occupancy trends. EBITDA for the quarter increased 28% YoY to ₹459 crore from ₹360 crore a year ago, while EBITDA margin remained largely stable at 65.1% versus 64.9% in the year-ago period. The earnings performance comes amid growing demand for flexible workspaces across major Indian cities as companies increasingly adopt hybrid work models and managed office solutions. Market participants also tracked the company’s improving profitability trajectory and operational scale, which helped support investor sentiment during the session. WeWork India operates flexible workspace centres across key commercial hubs and caters to enterprises, startups and hybrid workforce requirements. Disclaimer: This article is for informational purposes only and should not be construed as investment advice.
Here’s what got the street excited about JSW Cement as stock rallies 6% today
Shares of JSW Cement rallied more than 6% in trade on May 21 after the company reported a sharp improvement in quarterly profitability and a strong jump in operating margins, boosting investor sentiment around the cement maker’s earnings trajectory. The stock climbed as much as 6% intraday to ₹132.13 on the NSE, compared with the previous close of ₹120.91. At around 12:08 PM, the stock was trading near ₹127.46, up 5.4% for the day. Trading volumes also remained robust, with more than 63 lakh shares changing hands on the exchange. The rally came after JSW Cement posted a significant rise in Q4 FY26 earnings, led by margin expansion and a sharp increase in net profit. Strong margin expansion drives optimism For the March 2026 quarter, JSW Cement reported revenue from operations of ₹1,894.99 crore, up 10.9% year-on-year from ₹1,709.39 crore. Operational performance improved sharply during the quarter. EBITDA surged to ₹364.1 crore compared with ₹240.2 crore reported in the corresponding quarter last year, reflecting a growth of over 51%. More importantly, EBITDA margin expanded significantly to 19.2% from 14.1% a year ago, indicating improved operational efficiency and better cost management despite industry-wide cost pressures. The company’s consolidated net profit jumped to ₹361.65 crore in Q4 FY26 from ₹16.21 crore reported in Q4 FY25. Profit before tax also rose sharply to ₹214.88 crore compared with ₹75.75 crore in the year-ago period. Street cheers operational turnaround Market participants appeared encouraged by the strong profitability improvement, especially as the cement sector continues to navigate pricing volatility and cost pressures. Investors also reacted positively to the company’s stronger operating leverage, with EBITDA growth significantly outpacing revenue growth during the quarter. For the full financial year FY26, JSW Cement reported revenue from operations of ₹6,512.46 crore, compared with ₹5,813.07 crore in FY25. However, the company reported a consolidated loss of ₹798.78 crore for FY26 due to exceptional items amounting to ₹1,504.48 crore during the year. Despite the annual loss, the market focus remained firmly on the sharp sequential and year-on-year improvement in quarterly profitability and operating metrics. Disclaimer: This article is based on market data and company filings. It does not constitute investment advice.
Why are Sammaan Capital shares up over 8% today despite a huge loss in Q4? Explained
Sammaan Capital (formerly Indiabulls Housing Finance) staged a sharp 9% rally to ₹154 on the NSE on Thursday morning — even as the company reported one of the largest quarterly losses in its history. The apparent paradox has a clear explanation: the market is looking past the headline numbers. Sammaan Capital reported a consolidated net loss of ₹8,101 crore for Q4 FY26, compared with a profit of ₹324 crore in the same quarter last year. Total income for the quarter fell 36% year-on-year to ₹1,361 crore from ₹2,132 crore. The loss, however, is largely non-cash and one-time in nature. The company recognised an exceptional loss of ₹6,499 crore linked to the sale of non-core legacy loan exposures to an asset reconstruction company. Management clarified this was done to transfer collection responsibilities to an external agency — not because of fresh asset quality stress — freeing management to focus on scaling new business lines under the IHC framework. The NBFC however is also looking to enter the gold lending business, a category which has seen an enormous rise ovet the past few quarters amid rising gold prices. The real story is the transformation underway. Abu Dhabi-based International Holding Company (IHC) has been classified as promoter, with a total committed investment of ₹8,850 crore — one of the largest FDIs in India’s NBFC sector — currently holding 28.41% equity with a path to 41.24% on a fully diluted basis. The strategic vote of confidence has triggered a credit rating sweep. Within 50 days of IHC’s investment, all three major domestic agencies — CRISIL, CARE, and ICRA — upgraded Sammaan Capital to AA+/Stable. Lower cost of funds and a diversified product roadmap including gold loans and unsecured business loans are now squarely in sight. For investors, the Q4 loss is a balance sheet reset, not a distress signal.
Why is Jubilant Foodworks share price down over 7% today? Here’s what got the street disappointed
Shares of Jubilant FoodWorks Ltd came under heavy selling pressure in early trade on May 21 after multiple brokerages turned cautious on the stock following the company’s Q4 FY26 earnings and management commentary. The stock fell nearly 7% to an intraday low of ₹438.60 on the NSE, while trading around ₹439.80 at 9:20 AM, compared with the previous close of ₹472.55. The stock opened lower at ₹449.30 and remained under pressure throughout the morning session. Volumes also remained elevated, with over 14.8 lakh shares changing hands. The sharp decline follows target price cuts and cautious commentary from global brokerages including HSBC and Jefferies, which flagged weak same-store sales growth trends, moderation in demand momentum and near-term margin pressures. HSBC downgrades stock to ‘Hold’ HSBC downgraded Jubilant FoodWorks to ‘Hold’ and maintained its target price at ₹530. The brokerage highlighted that like-for-like (LFL) growth of just 0.2% during Q4 marked a sharp moderation in demand trends. According to HSBC, the quarter did not benefit from any major one-off gains, apart from a marginal LPG-related impact of around 0.3-0.4%. The brokerage also noted that early Q1 trends appear slightly better but are largely driven by activations and promotional efforts, raising concerns around the balance between growth and profitability. HSBC further warned that inflationary pressures may remain a near-term headwind and said it has cut estimates for the company. Jefferies slashes target price by ₹250 Jefferies retained its ‘Buy’ rating on Jubilant FoodWorks but sharply reduced its target price to ₹600 from ₹850 earlier. The brokerage said flat same-store sales growth and cautious short-term margin commentary indicate that a meaningful turnaround may still take time. It added that consumer technology platforms are increasingly becoming preferred investment plays within the broader consumption theme, limiting enthusiasm for the stock. While Jefferies acknowledged that Q4 earnings modestly beat its estimates, it said management’s calibrated pricing strategy could lead to a 10-12% cut in EBITDA estimates going forward. Q4 results snapshot Jubilant FoodWorks reported consolidated revenue from operations of ₹2,499.47 crore in Q4 FY26, up 19.3% year-on-year from ₹2,095.02 crore. Net profit rose sharply to ₹824.23 crore compared with ₹493.30 crore reported in the year-ago quarter. EBITDA stood at ₹484.9 crore against ₹391.9 crore in Q4 FY25, while EBITDA margin improved to 19.4% from 18.7%, expanding by 70 basis points year-on-year. Despite the strong headline numbers, analysts remain cautious on the demand outlook, especially around dine-in trends, same-store sales growth and the company’s ability to sustain margins amid inflationary pressures and competitive intensity. Disclaimer: This article is based on brokerage reports, market data and company filings. Brokerage views mentioned are their own and do not represent the views of the publication. This article does not constitute investment advice.
Here’s what the street liked about Mankind Pharma’s Q4 results as stock surges 4% today
Shares of Mankind Pharma gained over 3% in early trade on May 20 after the company reported strong March quarter earnings, supported by healthy domestic business growth, improving margins and strong traction in its consumer healthcare portfolio. The stock was trading at ₹2,570.60 on the NSE, up 3.13%, after touching an intraday high of ₹2,579.50. The rally also pushed the stock closer to its 52-week high of ₹2,716.50. For Q4FY26, Mankind Pharma reported revenue of ₹3,443 crore, compared to ₹3,079 crore in the year-ago period, registering an 11.8% growth. Net profit rose 31.7% year-on-year to ₹559 crore from ₹425 crore, while EBITDA jumped 36.1% to ₹930 crore from ₹683 crore in the corresponding quarter last year. The company’s EBITDA margin expanded sharply to 27% from 22.2% a year ago, indicating strong operating leverage and improved product mix. Brokerage firm Morgan Stanley maintained its “Overweight” rating on the stock with a target price of ₹2,500. The brokerage highlighted that EBITDA growth was driven by healthy domestic business performance and strong execution across key therapy segments. According to the brokerage, Mankind continued to witness healthy double-digit domestic growth, backed by robust performance in major therapies. The domestic business grew 13% year-on-year during Q4FY26, driven by strong growth in the core Mankind franchise. The cardiac segment recorded 14.7% growth, while the anti-diabetes segment grew 11.6%. The chronic portfolio contribution also increased to nearly 40%, reflecting improving portfolio quality. The company’s consumer healthcare or OTC business also remained a key highlight during the quarter. Revenue from the segment grew 20% YoY, led by strong demand for brands such as Manforce, Prega News and Gasofast. Mankind also saw rising contribution from digital channels, with e-commerce and modern trade share increasing to 13% in FY26. Its specialty business under Bharat Serums and Vaccines (BSV) posted healthy growth in key brands including Foligraf, which grew 52%, and HMG, which rose 40%. Meanwhile, the international business reported relatively muted growth of 4% year-on-year during the quarter, impacted by geopolitical headwinds. Apart from the earnings performance, the board also approved an investment of up to ₹500 crore in subsidiary Mankind Medicare and reappointed Satish K Sharma as Whole-Time Director for five years. Disclaimer: This article is for informational purposes only and should not be construed as investment advice.
Why are Hindalco shares up nearly 4% today? Explained
Shares of Hindalco Industries gained nearly 4% in early trade on May 20 after investors reacted positively to the March quarter performance and outlook commentary of its subsidiary Novelis, despite concerns around higher debt levels and the financial impact of the Oswego plant fire. Hindalco shares were trading at ₹1,085.60, up 3.56% on the NSE, after touching an intraday high of ₹1,089.50. The stock also moved close to its 52-week high of ₹1,105 during the session. Novelis, the aluminium rolling and recycling major owned by Hindalco, reported Q4FY26 adjusted EBITDA per tonne of $544, compared to $494 in the year-ago period. The company said profitability was impacted by the Oswego facility fire incident and tariff-related pressures, though insurance recoveries linked to flooding at the Sierre facility provided some support. Shipments during the quarter declined 12% year-on-year to 844 kilo tonnes. While operational performance remained resilient, investors continued to monitor a few key concerns highlighted in the update. Novelis estimated the fire-related free cash flow impact at nearly $1.7 billion before insurance recoveries, higher than its earlier estimate range of $1.3–1.6 billion. The company’s leverage also rose during the quarter, with net debt-to-EBITDA increasing to 4.1x, the highest level seen in nearly 23 quarters. Net debt rose 8% sequentially to $6.8 billion. Despite the near-term concerns, management maintained its broader guidance and long-term outlook, which appeared to support investor sentiment. Novelis reiterated that it expects to turn free cash flow positive by the end of FY27. The company also said the restart of its New York plant is expected in the coming weeks. In addition, the much-tracked Bay Minette project remains on schedule for completion by the end of calendar year 2026, reinforcing confidence around future growth capacity and downstream aluminium demand. Analysts have been closely watching Novelis’ execution amid global aluminium demand trends, tariff-related uncertainties and the impact of operational disruptions. However, the reaffirmation of guidance and improving profitability metrics appear to have overshadowed concerns around leverage and temporary disruptions in the latest trading session. Disclaimer: This article is for informational purposes only and should not be construed as investment advice.
Why are Zydus Life shares up another 6% today? Here’s what led the rally
Zydus Life Sciences shares surged nearly 6% in early trade on Wednesday, extending gains after the company’s post-results management commentary boosted investor sentiment. The stock rose as much as 5.8% to ₹1,078.75, a fresh 52-week high, before trading around ₹1,077.80 on the NSE. The rally came after the management outlined a strong growth outlook for FY27 during its earnings concall. The company guided for a US revenue base of over $300 million per quarter and projected single-digit growth in the US business during FY27. Zydus Life estimated its FY27 US revenues in the range of $1.3–1.4 billion. Management also indicated that the India business is expected to maintain growth momentum, supported by the oncology portfolio and upcoming GLP-1 opportunities. The international business is projected to grow 40–45% in FY27, reflecting strong traction in global markets. Investor sentiment was further supported by the company’s recently announced buyback proposal. Zydus Life approved a share buyback worth ₹1,100 crore through the tender offer route at a price of ₹1,150 per share. The company plans to buy back up to 95,65,217 equity shares, with May 29, 2026 fixed as the record date. Based on the earlier prevailing market price of around ₹1,020, the buyback price implied a premium of nearly 12.7%. The company also reported a strong operational performance for Q4 FY26. Net profit rose to ₹1,272.5 crore from ₹1,170.9 crore in the year-ago quarter, while revenue from operations increased to ₹7,587 crore from ₹6,527.9 crore YoY. EBITDA came in at ₹2,554 crore compared to ₹2,125.5 crore a year ago, while EBITDA margin improved to 33.7% from 32.6%. Earnings per share stood at ₹12.65 versus ₹11.64 YoY. The upbeat FY27 guidance, healthy quarterly performance and buyback announcement have together lifted investor confidence in the stock, helping Zydus Life extend its recent rally. Disclaimer: This article is for informational purposes only and should not be construed as investment advice.
Why did Dhanuka Agritech share price jump nearly 10% today? Explained
Dhanuka Agritech Limited shares surged nearly 10% in Tuesday’s trade after the company announced a share buyback plan alongside a strong set of Q4FY26 earnings. The stock rose as much as 10% intraday after the board approved a buyback of up to 1.11% of the company’s equity shares at ₹1,400 per share , representing an approximate 18% premium to the prevailing market price. Investor sentiment was further supported by healthy quarterly earnings growth. Dhanuka Agritech reported a net profit of ₹98 crore for Q4FY26, up 30% from ₹76 crore in the corresponding quarter last year. Revenue from operations increased 9% YoY to ₹483 crore compared to ₹442 crore in Q4FY25. EBITDA rose 14% YoY to ₹124 crore against ₹109 crore in the year-ago quarter. The company also reported margin expansion during the quarter, with EBITDA margin improving to 25.7% from 24.7% YoY, reflecting better operational performance. Following the announcements, Dhanuka Agritech shares traded around ₹1,177, up over 8% during the session, after hitting an intraday high of ₹1,200. The buyback announcement is being viewed positively by investors as it signals management confidence in the company’s long-term outlook while also enhancing shareholder value through a premium offer price. Disclaimer: This article is for informational purposes only and does not constitute investment advice.
Why Jain Resource Recycling shares fell 15% today?
Shares of Jain Resource Recycling fell sharply on May 19 , extending their decline to nearly 30% since the company’s results , as investors focused on weak operating cash flow and rising working capital pressure despite strong revenue and profit growth. The stock was trading at Rs 396.05 , down 14.54% or Rs 67.40 on the NSE. During the session, the stock moved in a wide range of Rs 378.00 to Rs 452.95 . The previous close stood at Rs 463.45 . The company reported strong FY26 numbers on the surface. Consolidated revenue from operations rose 48% to Rs 9,543 crore , while annual net profit increased nearly 59% to around Rs 352 crore . Q4 FY26 revenue also grew 76% year-on-year to Rs 3,100 crore , compared with Rs 1,760 crore in Q4 FY25. Net profit rose 15% to Rs 60.4 crore from Rs 52.4 crore a year earlier. However, the market reaction was driven by concerns over cash generation. Despite reporting profit of around Rs 352 crore for FY26, the company reported negative operating cash flow of Rs 602 crore . This gap between accounting profit and actual cash generation became the key concern for investors. The pressure was visible in working capital. Trade receivables rose sharply from Rs 129 crore to Rs 476 crore , while inventory increased from Rs 675 crore to Rs 1,477 crore . Both receivables and inventory grew much faster than revenue, indicating that a large part of growth was locked in working capital. To fund this expansion, short-term borrowings increased from Rs 916 crore to Rs 1,271 crore . This suggested that growth was being supported by debt rather than internal operating cash generation. Segmentally, the growth remained strong. Copper revenue rose 65% to Rs 5,262 crore , while copper segment profit increased 85% to Rs 194 crore . Lead revenue rose 36% to Rs 3,818 crore , making it a key cash-generating business. However, valuations remained demanding. At elevated multiples, the market was pricing in strong execution, steady cash conversion and clean working capital management. The negative operating cash flow weakened that assumption. The company has also announced plans to set up a new plastic recycling facility with an estimated capex of Rs 15 crore , expected to become operational by Q3 FY27 . Overall, Jain Resource Recycling shares fell because investors looked beyond headline revenue and profit growth and focused on the sharp rise in receivables, inventory build-up, higher short-term borrowings and negative operating cash flow. The key number to watch in the next quarter will be operating cash flow. If it turns positive, the growth story may stabilise; if it remains negative, concerns around working capital intensity may continue. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
Why MCX crude oil futures fell nearly 4% today
MCX crude oil futures fell sharply on May 19, 2026 , as easing geopolitical risk triggered profit-taking across global energy markets. The fall came after U.S. President Donald Trump said he was halting a planned military strike on Iran following requests from Gulf leaders. MCX crude oil futures declined Rs 406 or 3.93% to Rs 9,916 per barrel , compared with the previous close of Rs 10,322 . This marked one of the sharpest corrections in crude oil since the West Asia crisis began in late February. International crude benchmarks also moved lower. Front-month Brent crude futures fell 2.7% to $109.11 per barrel , while front-month WTI crude oil futures declined 1.3% to $107.28 per barrel . The decline came after Trump confirmed that he had called off a planned U.S. attack on Iran, which was scheduled for May 19. The decision followed appeals from leaders of Saudi Arabia, Qatar and the United Arab Emirates , who expressed confidence that a diplomatic agreement with Tehran on nuclear weapons could still be reached. The announcement led to a partial unwinding of the war premium that had built up in crude oil prices over the past several weeks. Brent had climbed from around $85 per barrel in early March to above $110 per barrel as the Iran conflict and Strait of Hormuz-related risks intensified. The latest move suggests that traders are now pricing in a lower probability of immediate military escalation, even though crude prices remain elevated. Technical indicators also pointed to exhaustion in the oil rally. WTI had failed twice to break the $108.58 to $109.37 resistance zone, while the daily chart again showed rejection near the $110.42 level. These repeated failures suggested that the rally had started losing momentum. Reuters market analyst Wang Tao projected that WTI may retest support at $106.13 per barrel , with the next key zone seen near $102.96 to $103.99 if selling pressure continues. For India, the fall in crude prices is significant because the country remains heavily dependent on oil imports. At the current rupee level near 96 per U.S. dollar , every $1 fall in Brent crude reduces India’s annualised crude import bill by roughly $1.5 billion . A sustained fall from around $109 toward $100 could also reduce daily under-recoveries for oil marketing companies, which had been estimated at around Rs 1,600-1,700 crore per day . This could lower pressure for further fuel price hikes. The rupee may also benefit if crude continues to ease, as lower oil prices reduce dollar demand from importers and ease current account pressure. Overall, MCX crude fell because traders reduced the immediate war-risk premium after Trump halted the planned Iran strike, while technical resistance near $110 added to selling pressure. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Commodity market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
Here’s why Puravankara Q4 results sent the stock flying by over 13% today
Shares of Puravankara surged more than 12% in early trade on Tuesday after the real estate developer reported a sharp turnaround in its fourth-quarter earnings for FY26. The stock climbed 12.63% to ₹240 on the NSE after closing at ₹213.08 in the previous session. The stock touched an intraday high of ₹249.90 during morning trade. Puravankara reported a consolidated net profit of ₹109.95 crore for the quarter ended March 2026, compared to a loss of ₹88 crore in the corresponding quarter last year. Revenue from operations nearly tripled on a year-on-year basis to ₹1,501.92 crore from ₹541.57 crore in Q4 FY25, reflecting strong execution and improved real estate demand. The company’s EBITDA surged sharply to ₹301.50 crore from ₹30.45 crore a year ago, while EBITDA margin expanded significantly to 20.1% from 5.6% in the year-ago period. Profit before tax also turned positive during the quarter. The company posted a pre-tax profit of ₹144.96 crore compared to a loss of ₹110.81 crore in the corresponding quarter of the previous financial year. Earnings per share (EPS) stood at ₹4.77 for the quarter against a negative EPS of ₹3.62 reported in Q4 FY25. The sharp improvement in profitability and margins comes amid continued momentum in the residential real estate segment, particularly across premium and mid-income housing markets. The stock also witnessed strong trading activity during early trade, with volumes crossing 48 lakh shares on the NSE. Puravankara has remained in focus in recent quarters as investors track the company’s project pipeline, sales momentum, collections and execution across key markets including Bengaluru, Chennai, Hyderabad, Pune and Mumbai. Disclaimer: This article is for informational purposes only and does not constitute investment advice.
Why are Strides Pharma shares down 8% today, a day after Q4 results? Explained
Shares of Strides Pharma Science fell over 8% in early trade on Tuesday, a day after the company announced its Q4 FY26 earnings and outlined its medium-term growth roadmap amid ongoing challenges in the US market. The stock declined 8.55% to ₹1,053 on the NSE after closing at ₹1,151.4 in the previous session. The stock touched an intraday low of ₹1,035 during early trade. Strides Pharma reported a 51% year-on-year jump in consolidated net profit for the March quarter at ₹129.2 crore, compared to ₹86 crore in the corresponding quarter last year. Revenue from operations rose 11.2% YoY to ₹1,323.4 crore from ₹1,190.3 crore, while EBITDA increased 10% to ₹239.6 crore against ₹218 crore a year ago. EBITDA margin, however, slipped marginally to 18% from 18.3% in Q4 FY25. The company said its US business faced headwinds during the second half of FY26 as anticipated seasonal flu demand failed to materialise. It also disclosed that the March quarter profitability was impacted by a sudden spike in logistics and air freight costs, which resulted in a ₹20 crore hit to profitability. Strides further stated that its cash-to-cash cycle stretched by seven days to 124 days as the company intentionally increased inventory levels by 21 days to safeguard operations against global supply chain disruptions. The company’s US market revenue stood at ₹24,897 million (approximately $284 million), reflecting a modest 2% year-on-year growth. Meanwhile, revenue from ex-US markets rose 21% YoY to ₹22,404 million (around $254 million), indicating stronger traction in international businesses outside the United States. Despite the near-term challenges, management maintained a positive long-term outlook and said the company aspires to focus on achieving North America business revenue of nearly $400 million by FY28. The company also said it expects growth momentum to return by the second half of FY27. Separately, Strides Pharma also announced a major leadership reshuffle. As part of the changes, the promoter’s son will move into a non-executive role, according to the company’s regulatory filing. The stock has remained volatile in recent sessions as investors assess the company’s near-term margin pressures, US market dynamics and inventory-related working capital impact. Disclaimer: This article is for informational purposes only and does not constitute investment advice.
Afcons Infra shares crash 7% at open post Q4 results — here’s what went wrong
Afcons Infrastructure shares came under selling pressure in early trade on Tuesday, falling nearly 7% after the company reported a sharp decline in profitability and margins for the March quarter. The stock opened lower at ₹296.50 on the NSE, down 6.63% from its previous close of ₹317.55. The stock also remained near its day’s low in early trade, reflecting weak investor sentiment after the earnings announcement. The decline follows the company’s Q4FY26 results, where operational performance weakened significantly on a year-on-year basis. Afcons Infra reported consolidated revenue of ₹2,614 crore for the March quarter, down 18.9% compared to ₹3,223 crore in the same quarter last year. EBITDA saw a steep decline of 85.4% year-on-year to ₹43 crore from ₹294 crore, while EBITDA margin contracted sharply to 1.6% from 9.1% a year ago. Net profit for the quarter stood at ₹88.4 crore compared to ₹110.9 crore in the corresponding period last year. Despite the weak quarterly performance, the company’s board recommended a dividend of ₹2 per share for FY26. The sharp correction in the stock comes amid concerns over margin pressure and slower execution in the infrastructure sector. Investors are expected to closely track management commentary around order inflows, project execution and margin recovery going ahead. Afcons Infrastructure, part of the Shapoorji Pallonji Group, operates across transport, marine, industrial and urban infrastructure segments, with a presence in both domestic and international markets. Disclaimer: This article is for informational purposes only and does not constitute investment advice.
Why Eternal shares are falling today despite Blinkit optimism
Shares of Eternal declined 2.74% to ₹234.57 on the NSE on May 18, 2026, even as broader markets remained relatively stable. The stock has now corrected sharply from its 52 week high of ₹368.45 and is trading near the lower end of its yearly range of ₹212.60 to ₹368.45. The weakness follows a cautious note from global brokerage Macquarie, which maintained its “Underperform” rating on Eternal and reduced its target price to ₹190 from ₹200, citing rising competitive pressure in quick commerce and concerns around Blinkit’s long term valuation. Why Macquarie remains cautious Macquarie’s thesis is centred around Blinkit, Eternal’s quick commerce business, which remains the biggest driver of investor optimism and valuation expectations. The brokerage estimates Blinkit’s implied valuation at around $9 billion to $15 billion, based on residual valuation after accounting for the food delivery business. While Macquarie acknowledged that mature markets like Delhi NCR are already approaching 5-6% adjusted EBITDA margins, it warned that investors may be extrapolating those economics too aggressively across the entire network. According to the brokerage, the economics of quick commerce differ significantly across micro markets. Stores in dense urban clusters generate far better throughput and profitability than expansion stores in smaller cities, making portfolio wide profitability harder to achieve than current market expectations suggest. Competition in quick commerce remains the biggest concern The main overhang remains the intensifying competition in India’s quick commerce market. Macquarie highlighted the aggressive expansion by Zepto along with increasing investments by Amazon, Flipkart and BigBasket. The brokerage believes the market is underestimating how long competitive intensity could persist. Increased discounting, higher customer acquisition costs and elevated delivery expenses are expected to keep profitability under pressure for the entire sector. Macquarie also flagged Zepto’s expected IPO in 2026 as a potential trigger for even more aggressive market share battles and higher spending across the industry. Food delivery margins may have peaked Apart from quick commerce concerns, the brokerage also warned that food delivery margins may be approaching their peak. Macquarie believes current take rates of around 25% in food delivery are already elevated, limiting the scope for further margin expansion. The brokerage also expects food delivery growth to remain below broader market expectations over the medium term. Market remains divided on valuation Despite the downgrade, Eternal continues to command a massive market capitalisation of approximately ₹2.15 lakh crore and trades at a very high P/E multiple of over 600, reflecting the market’s long term growth expectations around Blinkit and the broader quick commerce opportunity. However, today’s decline suggests investors are becoming increasingly sensitive to questions around sustainability of growth, profitability timelines and valuation premiums in India’s rapidly evolving quick commerce space. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
Why are Amber Enterprises shares down 15% today and below its 200-DMA too? Explained
Amber Enterprises shares dropped nearly 15% after management warned of margin pressure from wage hikes and higher commodity prices.
Why Swiggy shares hit fresh 52-week low after Macquarie downgrade
Shares of Swiggy declined 2.25% to ₹249.65 on the NSE on May 18, 2026, after global brokerage Macquarie downgraded the stock from “Neutral” to “Underperform” and sharply cut its target price to ₹230 from ₹290. The downgrade implies a further downside of nearly 7.9% from current levels. The stock also touched a fresh 52 week low of ₹247.70 during the session, extending its sharp correction from the 52 week high of ₹474. At the current market price, Swiggy is trading nearly 47.4% below its peak valuation. Why Macquarie downgraded Swiggy Macquarie’s downgrade is centred around two key concerns: intensifying competition in the quick commerce segment and the absence of a visible path to sustainable profitability. Quick commerce was originally seen as the biggest long term growth driver for Swiggy through Instamart. The business model was initially expected to evolve into a duopoly between Instamart and Blinkit, supported by high entry barriers including dark store investments, delivery infrastructure and hyperlocal logistics execution. That assumption has now changed significantly. Competition in quick commerce is intensifying The sector has become increasingly crowded with aggressive expansion from multiple players. Zepto has rapidly expanded its dark store network after raising over $1 billion in funding. At the same time, BigBasket through BigBasket Now and Reliance Retail through JioMart Express are scaling their fast delivery operations across key urban markets. Amazon has also begun piloting quick delivery services in select Indian cities. The shift from a two player market to a multi player battle changes the economics materially. Customer acquisition costs rise sharply, discounting intensity increases and delivery partner costs remain elevated. All three pressures negatively affect margins. Profitability concerns remain unresolved Swiggy continues to remain loss making, reflected by the absence of a meaningful P/E ratio on market screeners. Despite a market capitalisation of approximately ₹65,060 crore, the company has yet to demonstrate a consistent path toward profitability at scale. Macquarie’s revised target reflects concerns that profitability may take significantly longer than previously anticipated, especially if competitive intensity in quick commerce remains elevated. The brokerage appears to be reassessing not just Swiggy’s earnings trajectory, but also the sustainability of the sector’s overall unit economics under prolonged competitive pressure. Market sentiment remains cautious Investors have increasingly become selective toward internet and platform businesses where cash burn remains high and profitability timelines remain uncertain. Rising competition, promotional spending and logistics costs continue to weigh on sentiment across India’s quick commerce space. While food delivery remains relatively stable, the market’s focus has shifted toward whether quick commerce businesses can eventually generate durable margins without continuous discount-led growth. At current levels, the stock is trading near its lowest point since listing, reflecting broader caution around execution risks and the economics of rapid delivery models. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
Why IndiGo shares are in focus today despite falling nearly 2%
Shares of InterGlobe Aviation, the parent company of IndiGo, remained under pressure on May 18 even as multiple industry indicators turned favourable for the aviation sector. The stock declined 1.79% or Rs 77.20 to Rs 4,237.70 on the NSE during morning trade, despite improving passenger traffic trends and significant VAT cuts on aviation turbine fuel (ATF) by key states. The stock traded within a day range of Rs 4,226 to Rs 4,289.80 and currently commands a market capitalisation of around Rs 1.64 lakh crore. IndiGo’s 52-week range stands between Rs 3,895.20 and Rs 6,232.50. Domestic air traffic shows strong recovery India’s domestic aviation traffic has picked up meaningfully in May 2026. Average daily domestic passenger traffic rose to 5,00,366 in May 2026, compared with 4,69,396 in April 2026. The improvement indicates that higher ticket prices have not materially impacted passenger demand so far. International air traffic also strengthened, rising around 10% month-on-month, reflecting continued recovery in outbound travel demand and stable global passenger movement despite geopolitical uncertainties. For IndiGo, which remains India’s largest airline by market share, rising traffic volumes directly support load factors, aircraft utilisation and overall revenue momentum. ATF VAT cuts provide major sector tailwind Another key trigger for aviation stocks is the reduction in VAT on aviation turbine fuel by Delhi and Maharashtra. Delhi and Maharashtra together account for an estimated 45-50% share in India’s aviation traffic from a fuelling perspective. The reduction in VAT by 18 percentage points in Delhi and 11 percentage points in Maharashtra could significantly lower operating costs for airlines if oil marketing companies pass on the benefit. ATF remains one of the largest cost components for airlines, and any reduction in fuel taxation materially improves profitability, especially for high-volume operators like IndiGo. Oil prices remain the key concern Despite positive operational indicators, airline stocks continue to face pressure from rising global crude oil prices amid the ongoing Middle East conflict and Strait of Hormuz disruptions. Higher crude prices typically increase ATF costs globally, which partially offsets the benefit of local VAT reductions. The market is currently balancing improving traffic demand and lower state taxes against elevated international oil prices and broader global volatility. Why the stock is still under pressure While operational data remains positive, the stock’s decline suggests investors are cautious about near-term margin pressure from global fuel prices and overall market weakness. Aviation stocks are highly sensitive to crude oil movement, currency fluctuations and geopolitical disruptions. However, the combination of rising passenger demand, resilient ticket pricing and potential fuel tax savings keeps IndiGo firmly in focus for the sector.
Godfrey Phillips profit jumped 86% but the stock fell 5% — ₹1,500 crore profit and only ₹500 crore cash tells a different story
Shares of Godfrey Phillips India declined 4.87% to ₹2,306.90 on the NSE on May 18, falling ₹118 from the previous close of ₹2,424.90, as investors focused less on the company’s headline earnings growth and more on its weak cash conversion and rising working capital pressures. The cigarette maker reported a strong set of Q4 FY26 numbers on the surface. Consolidated net profit surged 86.5% year-on-year to ₹522 crore from ₹280 crore, while revenue rose 84.6% YoY to ₹3,486 crore. EBITDA more than doubled to ₹552.8 crore, reflecting a sharp improvement in profitability during the quarter. For FY26, consolidated net profit stood at ₹1,526 crore compared to ₹1,072.31 crore in FY25. The board also declared a final dividend of ₹33 per equity share for FY26. However, the market reaction suggested investors were looking beyond the headline growth and questioning the quality of earnings. Weak cash conversion became the key concern Despite reporting nearly ₹1,500 crore profit for FY26, Godfrey Phillips generated operating cash flow of only around ₹500 crore. That implies a cash conversion ratio of roughly 33%, which is unusually weak for a tobacco business that typically generates highly predictable cash flows and strong working capital efficiency. The gap between reported profit and actual cash generation became the central concern behind Monday’s selloff. Two balance sheet items stood out sharply. Trade receivables surged 76% from ₹516 crore to ₹907 crore, while inventory increased from ₹1,932 crore to ₹2,188 crore. Together, this represented a significant working capital build-up that absorbed a large portion of operating cash flow. What may have caused the working capital spike The most likely explanation is inventory loading ahead of the cigarette excise duty restructuring that came into effect in February 2026. Before tax hikes, cigarette manufacturers and distributors often increase channel inventory to push more product into the market before higher duties become applicable. This temporarily boosts reported revenue and profitability while also increasing receivables and inventory levels. As a result, the reported 84.6% revenue growth in Q4 may not entirely reflect underlying consumer demand growth. Analysts believe part of the growth was likely driven by pre-tax inventory loading and channel stocking. The company’s cigarette volume growth and Marlboro distribution expansion remain genuine positives, but investors are now closely watching whether FY27 sees inventory normalisation and recovery in cash generation. What the market is watching next Investors are likely to monitor three key variables going forward: Whether receivables begin to normalise from the elevated ₹907 crore level Whether inventory reduces as channel stocks get absorbed Whether operating cash flow improves closer to profit levels in FY27 If cash conversion improves meaningfully, the current weakness may prove temporary. However, if working capital pressures continue and distributor destocking affects future sales growth, the market could reassess the sustainability of FY26 earnings growth. At current levels, Godfrey Phillips trades at a trailing P/E of around 25.84x earnings. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
Why Delhivery shares fell nearly 5% today despite 30% revenue growth in Q4 FY26
Shares of Delhivery declined nearly 5% in Monday’s trade even after the logistics major reported strong revenue growth in Q4 FY26, as investors reacted to flat profitability and concerns around earnings quality despite higher shipment volumes. The stock fell 4.93% to ₹452.30 on the NSE and emerged among the top losers in early trade. Delhivery touched an intraday low of ₹451 after opening lower following the earnings announcement. At the current price, the company commands a market capitalisation of around ₹34,029 crore. Revenue surged, but profit growth disappointed Delhivery reported Q4 FY26 revenue from operations of ₹2,850 crore, compared with ₹2,191.6 crore in the corresponding quarter last year, reflecting a strong year-on-year growth of around 30%. Sequentially, revenue also improved from ₹2,805 crore reported in Q3 FY26. However, net profit remained largely flat at ₹73.4 crore versus ₹72.6 crore in Q4 FY25 despite the strong topline growth. The market appeared disappointed that a 30% jump in revenue translated into only marginal profit expansion. The company had reported a loss of ₹39.6 crore in the December quarter, making the return to profitability sequentially positive, but investors were expecting stronger operating leverage from the rapid revenue expansion. FY26 profit declined despite scale expansion For the full financial year FY26, Delhivery reported net profit of ₹152.5 crore, down nearly 6% from ₹162.1 crore in FY25. The decline in annual profitability despite scale growth indicates continued pressure from costs, pricing competition and investments across the logistics network. This appears to be one of the key reasons behind the stock reaction. Why the stock moved lower The market reaction suggests investors were focused less on revenue growth and more on margin conversion and earnings efficiency. Delhivery’s valuation remains premium, with the stock trading at a trailing P/E ratio above 225. At such elevated valuations, investors typically expect strong profit compounding alongside revenue growth. Instead, the company delivered flat quarterly profit growth and lower full-year profit despite expanding revenue scale. The stock is still trading well above its 52-week low of ₹332.30 but remains below its 52-week high of ₹490. Average daily traded volume in the counter stands at approximately 31.1 lakh shares. The broader market weakness in high-growth platform and logistics stocks also contributed to the selling pressure after results. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
Why VIP Industries shares fell over 3% today: Q4 loss widens sharply, margins turn deeply negative
Shares of VIP Industries declined more than 3% in Monday’s trade after the luggage maker reported a sharp deterioration in profitability for Q4 FY26, with widening losses, declining revenue and deeply negative operating margins weighing heavily on investor sentiment. The stock fell 3.42% to ₹282.05 on the NSE, emerging among the top losers in early trade. VIP Industries opened sharply lower and touched an intraday low of ₹279 after the earnings announcement triggered fresh selling pressure. The market reaction was driven by a combination of collapsing margins, weaker demand conditions and continued operational stress across the business. Q4 losses widened sharply VIP Industries reported a consolidated net loss of ₹128.90 crore for Q4 FY26, compared with a net loss of ₹27.36 crore in the corresponding quarter last year. The quarterly loss widened by more than 370% year-on-year. Revenue from operations declined 11.73% to ₹436.23 crore from ₹494.21 crore a year ago, reflecting weaker sales momentum and pressure on demand. The most concerning metric for investors was the operating margin collapse. Operating profit margin turned sharply negative at -18.84% in Q4 FY26 compared with a marginally positive 1.32% in Q4 FY25. PBT before depreciation stood at a loss of ₹98.60 crore compared with a loss of ₹6.59 crore last year, while PBT loss widened to ₹129.33 crore from ₹36.88 crore. Full-year performance remained weak For the full financial year FY26, VIP Industries reported a consolidated net loss of ₹338.01 crore compared with a net loss of ₹68.79 crore in FY25. Annual revenue declined 14.7% to ₹1,858.13 crore from ₹2,178.43 crore in the previous financial year. Operating margin for the full year remained negative at -12.97% compared with 3.78% in FY25, highlighting persistent profitability pressure across the business. Why the stock moved lower The sharp decline in VIP Industries shares reflects investor concerns over the scale of earnings deterioration rather than just the headline loss. The combination of double-digit revenue decline, deeply negative margins and rising losses indicates that the company is still facing significant operational challenges despite recovery expectations in the travel and luggage segment. The margin collapse suggests aggressive discounting, elevated input costs or inventory-related pressures may have impacted profitability during the quarter. The stock is now trading near its 52-week low of ₹279 and remains significantly below its 52-week high of ₹492.30, reflecting continued weakness in investor confidence. At the current market price, VIP Industries commands a market capitalisation of approximately ₹40,070 crore. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
Crompton Greaves Consumer shares surge nearly 7% today after Aditya Birla Group stake acquisition report
Shares of Crompton Greaves Consumer Electricals jumped sharply on Friday, May 15, after reports suggested that Aditya Birla Group is among the parties looking to acquire a majority stake in the company. The stock rose 6.75% to Rs 308.45 on the NSE, gaining Rs 19.50 from its previous close of Rs 288.95. The stock moved in the range of Rs 284.00 to Rs 307.95 during the session. The sharp move came after CNBC-TV18 reported, citing sources, that Aditya Birla Group is among multiple bidders in contention to acquire a majority controlling stake in Crompton Greaves Consumer Electricals. The stock had been moving gradually higher through the session before witnessing a sharp spike around 2:40 PM IST, coinciding with the M&A report. The development triggered strong buying interest, with the stock also appearing among the top gainers and most active counters. The reported stake sale comes as existing key shareholders Advent International and Temasek have held their investment in the company for several years following the 2016 demerger from CG Power. A majority stake acquisition, if concluded, could also trigger an open offer obligation under takeover regulations. The M&A-driven rally came despite weak reported profitability in Q4 FY26. Crompton Greaves Consumer Electricals reported revenue from operations of Rs 2,283.27 crore in Q4 FY26, up 10.8% year on year and 20.3% sequentially. However, the company posted a net loss of Rs 531.07 crore for the quarter against a net profit of Rs 171.74 crore in Q4 FY25, mainly due to an exceptional loss of Rs 716.04 crore. Profit before tax stood at a loss of Rs 483.60 crore compared with a profit of Rs 230.80 crore a year earlier. The sharp rise in the stock suggests investors focused on the potential change in ownership and open offer possibility rather than the weak reported quarterly bottom line. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
Nava shares fall over 10% today as Q4 profit drops 55% despite revenue growth
Shares of Nava declined sharply on Friday, May 15, after the company reported a mixed set of Q4 FY26 results, with higher revenue offset by a sharp increase in deferred tax expense. The stock was trading at Rs 643.75 at around 2:04 PM IST, down 8.51% or Rs 59.85 from its previous close of Rs 703.60. During the session, the stock moved between Rs 642.50 and Rs 724.00. Nava reported revenue from operations of Rs 1,142.85 crore in Q4 FY26, up 12.24% year on year from Rs 1,018.20 crore in the corresponding quarter last year. Sequentially, revenue rose 15.31% from Rs 991.12 crore in Q3 FY26. However, profitability was hit by a sharp rise in deferred tax expense. Profit before tax from continuing operations stood at Rs 325.33 crore, broadly similar to Rs 324.30 crore in Q4 FY25. Total tax expense rose sharply to Rs 188.80 crore from Rs 21.13 crore a year earlier, mainly due to a deferred tax charge of Rs 163.26 crore. As a result, profit from continuing operations fell to Rs 136.53 crore from Rs 303.17 crore in the year ago quarter. Net profit for the period declined 55.03% YoY to Rs 136.23 crore from Rs 302.84 crore. PAT attributable to shareholders of the holding company stood at Rs 127.13 crore, compared with Rs 234.41 crore in Q4 FY25. For FY26, revenue from operations rose 7.72% to Rs 4,290.92 crore from Rs 3,983.55 crore in FY25. However, full year PAT declined to Rs 1,038.52 crore from Rs 1,434.00 crore, while PAT attributable to shareholders fell 27.94% to Rs 786.67 crore. The stock reaction suggests investors focused on the sharp decline in reported profitability and the steep deferred tax impact, even as operating revenue improved during the quarter. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
Muthoot Finance shares fall 5% today despite strong Q4 profit beat as FY27 growth concerns weigh
Shares of Muthoot Finance declined 5.03% to Rs 3,353.50 on the NSE on Friday, May 15, even after the company reported a strong Q4 FY26 performance and received bullish ratings from several brokerages. The stock fell Rs 177.60 from its previous close of Rs 3,531.10. During the session, it touched an intraday low of Rs 3,305.10 and a high of Rs 3,523.90. The stock’s 52 week range stands between Rs 2,027 and Rs 4,149.50. The fall came despite Muthoot Finance reporting standalone profit after tax of Rs 3,080 crore in Q4 FY26, up 105% year on year. Standalone assets under management rose 50% YoY, supported by higher gold prices and elevated loan to value levels. Net interest margin improved to 20.8%, aided by higher loan yields, while return on equity rose to 34%. However, investors appeared to focus on signs of moderation ahead, with management guiding for 15% AUM growth in FY27, sharply lower than the 50% growth seen in Q4 FY26. Gold loan tonnage declined 4% sequentially after a 2% decline in Q3 FY26, indicating slower volume growth despite higher value growth. Customer count also fell 2% sequentially due to churn in the lower ticket loan segment. Stage 2 and Stage 3 loans increased during the quarter, although management clarified that the rise was largely due to RBI mandated borrower level classification changes rather than actual asset quality deterioration. Brokerages, however, largely remained positive on the stock. Bernstein maintained an Outperform rating with a target price of Rs 4,500, while Morgan Stanley retained its Overweight rating with a target price of Rs 4,330. CLSA maintained its Outperform rating with a target price of Rs 4,600, and Jefferies retained its Buy call with a target price of Rs 4,350. The stock reaction appears to reflect concerns over whether the exceptional Q4 performance can be sustained in FY27, especially if gold prices correct and AUM growth slows. While brokerages remain structurally positive, the market seems to be pricing in near term risks linked to slower loan growth, reduced gold price tailwinds and elevated expectations after the recent rally. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
Why did Data Patterns shares fall over 9% on Friday, May 15?
Shares of Data Patterns fell sharply over 9% during Friday’s session despite the company reporting record annual order inflows and strong FY26 profit growth, as investors appeared concerned over weak Q4 revenue performance and valuation pressure. As of 9:30 AM IST on Friday, May 15, Data Patterns shares were trading at Rs 3,641.20, down 9.21% or Rs 369.30 from the previous close of Rs 4,010.50. The stock touched an intraday low of Rs 3,618.40 on NSE. The company reported Q4 FY26 revenue from operations of Rs 396 crore, down 13% year on year, reflecting delays and timing-related execution issues in defence project deliveries. While net profit rose 21% YoY to Rs 138 crore from Rs 114 crore, the market reaction suggests investors focused more on the decline in topline growth during the quarter. The sharp correction also comes after a strong rally in defence stocks over recent months, with Data Patterns trading at elevated valuations. The stock’s P/E ratio stood above 83, according to market data, indicating high growth expectations already priced into the stock. For the full financial year FY26, Data Patterns posted a much stronger performance. Revenue rose 31% to Rs 925 crore, while net profit increased 22% to Rs 271 crore. The company also recorded its highest-ever annual order inflow at Rs 1,121 crore, with the closing order book standing at Rs 926 crore. Management guided for 20–25% revenue growth and EBITDA margins of 35–40% in FY27. The board also recommended a final dividend of Rs 10 per share for FY26. Despite the positive long term guidance, the market appears to have reacted negatively to the quarterly revenue slowdown, execution lumpiness, and rich valuations in the near term.
Here’s why Shadowfax Technologies share price is up nearly 10% today
Shadowfax Technologies shares surged nearly 10% on May 15 after the company reported a sharp improvement in its March quarter earnings, aided by strong revenue growth and a significant jump in operating profitability. The stock rose as much as 9.3% to hit an intraday high of ₹192.81 on the NSE, while trading volumes remained strong in early trade. The stock was last seen trading around ₹179.78, up 9.32% over the previous close. Shadowfax Technologies reported consolidated revenue from operations of ₹1,237.09 crore for Q4 FY26, compared to ₹712.43 crore in the corresponding quarter last year, reflecting a robust growth of 73.6% YoY. The company posted a net profit of ₹55.83 crore during the quarter, against a loss of ₹9.86 crore reported in Q4 FY25, marking a sharp turnaround in profitability. EBITDA for the quarter stood at ₹81.05 crore, compared to ₹12.07 crore in the year-ago period, registering a growth of over 571% YoY. EBITDA margin improved to 6.55% from 1.69% a year ago. Profit before tax came in at ₹54.86 crore for the quarter, compared to a pre-tax loss of ₹10.23 crore in the corresponding quarter last year. Total income during the quarter stood at ₹1,252.60 crore, while total expenses rose to ₹1,197.74 crore from ₹729.60 crore a year ago. Employee benefits expense stood at ₹112.05 crore, while finance costs came in at ₹6.45 crore. The company also reported total comprehensive income of ₹55.76 crore for the quarter, compared to a comprehensive loss of ₹9.50 crore in Q4 FY25. The strong operational performance and return to profitability appeared to boost investor sentiment, pushing the stock close to its 52-week high during the session. Disclaimer: This article is based solely on the company’s exchange filing and publicly available market data. It does not constitute investment advice.
Voltas shares fall over 2% today after Q4 profit drops 52%, margin pressure weighs on sentiment
Shares of Voltas declined more than 2% during Friday’s session after the company reported a weak set of Q4 FY26 earnings, with profitability taking a sharp hit despite marginal growth in revenue. As of 9:25 AM IST on Friday, May 15, Voltas shares touched an intraday low of Rs 1,252.00, compared to the previous closing price of Rs 1,293.50. The stock opened at Rs 1,280.20 and traded in the range of Rs 1,252.00 to Rs 1,289.40 during the session. The company reported consolidated revenue of Rs 4,888 crore for the March quarter, registering a 2.5% year on year increase from Rs 4,768 crore reported in the corresponding quarter last year. However, operating performance remained under pressure during the quarter. EBITDA declined 33.6% YoY to Rs 221 crore from Rs 333 crore, while EBITDA margin contracted to 4.5% from 7.0% in the year ago period, reflecting a decline of 250 basis points. Net profit also saw a sharp fall, dropping 51.9% YoY to Rs 116 crore against Rs 241 crore reported in the corresponding quarter of the previous financial year. The weaker profitability performance appears to have impacted investor sentiment, resulting in selling pressure in the stock despite stable topline growth. On the broader trend, Voltas shares are currently trading below their 52 week high of Rs 1,582.50, while the 52 week low stands at Rs 1,186.80. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
Why are Tata Motors PV shares up 7% despite weak YoY results? Explained
Tata Motors shares gained in early trade on Friday after investors reacted positively to a better-than-expected performance from Jaguar Land Rover (JLR) and steady growth in the company’s passenger vehicle business. The stock was trading over 6% higher at ₹360.35 in morning trade after the company reported its quarterly updates. Tata Motors’ passenger vehicle business reported revenue growth of 43.3% year-on-year at ₹18,598 crore, compared to ₹12,977 crore in the year-ago period. EBITDA for the segment rose 29.3% to ₹1,059 crore from ₹819 crore a year earlier. However, EBITDA margin moderated to 5.7% from 6.3% in the corresponding quarter last year. Meanwhile, JLR reported Q4 revenue of £6.9 billion, down 11.1% year-on-year. Despite the decline in revenue, the luxury vehicle business delivered margins above analyst expectations, helping improve investor sentiment around the stock. Brokerage firm CLSA maintained its “outperform” rating on Tata Motors with a target price of ₹468 per share, implying a potential upside of around 38% from the previous closing price. According to CLSA, JLR’s EBIT margin came in at 9.2% as production normalised. The brokerage highlighted that JLR delivered on its EBIT margin and free cash flow guidance for FY26, while also maintaining its planned investment outlay of £3.6 billion. CLSA further noted that multiple upcoming launches, especially in the electric vehicle segment, along with ongoing cost reduction measures, are expected to support stronger growth and profitability for JLR. The brokerage also said the company expects to reduce its free cash flow breakeven volume to 3 lakh units during the current year. Analysts believe the combination of improving operational stability at JLR and continued domestic passenger vehicle momentum could help strengthen earnings visibility for Tata Motors over the coming quarters. Disclaimer: This article is for informational purposes only and should not be construed as investment advice.
Why is PNB Gilts share price up more than 15% today? Reason explained
PNB Gilts shares surged nearly 16% on Thursday after a Bloomberg report said India is considering reducing taxes on bond investments made by foreign investors. The stock rallied sharply as investors bet that any move to attract higher foreign participation into India’s bond market could directly benefit companies operating in the government securities and fixed-income space. According to the Bloomberg report, the Reserve Bank of India has recommended a reduction in taxes paid by foreign investors on Indian bonds, and the proposal is being seriously considered by the Finance Ministry. The objective is to align India’s policies with global norms and attract larger capital inflows into the debt market. PNB Gilts is one of the key beneficiaries seen from such a move because the company operates as a primary dealer in government securities. The company is involved in trading government bonds, treasury bills and other fixed-income instruments, while also providing investment and treasury solutions to institutions and corporates. Higher foreign participation in Indian bonds is generally viewed as positive for gilt-focused companies because it can improve liquidity in the debt market, increase trading activity and potentially support bond valuations. Increased inflows into government securities could also create stronger demand across the fixed-income ecosystem where companies like PNB Gilts operate. Market participants believe that if foreign investors receive tax relief, India’s bond market could witness significantly higher overseas inflows, especially after the country’s inclusion in major global bond indices. Such inflows may boost trading volumes and treasury activity, which could support earnings visibility for bond market intermediaries and primary dealers. The sharp rally in PNB Gilts also comes amid broader strength in financial and debt-market-linked stocks after the report surfaced. Banking and NBFC stocks including HDFC Bank, SBI, Bank of Baroda and ICICI Bank also traded higher during the session. At around 2:24 PM, PNB Gilts shares were trading at ₹79.63, up over 15%, after hitting an intraday high of ₹83.02. Disclaimer: This article is for informational purposes only and should not be construed as investment advice.
Why NIIT shares fell over 4% today
NIIT Limited shares fell over 4% on May 14 after the company reported a weak Q4 FY26 performance, with the company slipping into a consolidated net loss attributable to owners despite year-on-year revenue growth. The stock was trading at Rs 64.71, down Rs 3.12 or 4.58% as of 1:16 PM. The stock has also remained under pressure on the one-month chart, reflecting weak sentiment around the counter. The decline came after NIIT reported a consolidated net loss attributable to owners of the company of Rs 4.4 crore for Q4 FY26, compared with a profit of Rs 13.1 crore in the corresponding quarter last year. Revenue for the quarter stood at Rs 390 crore, rising 9.1% year-on-year. However, the improvement in revenue was not enough to support profitability as the company’s expenses continued to remain elevated. At the operating level, NIIT reported an EBITDA loss of Rs 1.4 crore in Q4 FY26, compared with an EBITDA loss of Rs 1.5 crore in the year-ago quarter. This indicated that operating profitability remained weak even though revenue improved. For the full year, NIIT’s PAT stood at Rs 5.28 crore, compared with Rs 46.13 crore in the previous financial year, marking a sharp decline of 88.6%. The company’s cost structure remained a key pressure point. Employee costs increased around 14%, while professional and technical outsourcing expenses rose around 19%. The rise in costs outpaced revenue growth, keeping margins under pressure. Overall, NIIT shares moved lower as investors reacted to the company’s Q4 net loss, weak operating profitability and sharp full-year profit decline. While revenue grew during the quarter, the higher cost base weighed on earnings and kept sentiment negative. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
Why Saregama India shares jumped over 7% today after Q4 results
Saregama India shares jumped more than 7% on May 14 after the company reported a strong Q4 FY26 operational performance, led by higher revenue, sharp EBITDA growth and significant margin expansion. The stock was trading at Rs 359.55 , up 7.31% or Rs 24.50 as of 1:01 PM . Saregama India opened higher and moved in a day range of Rs 339.35 to Rs 370.90 . The previous close stood at Rs 335.05 . The stock has a 52-week range of Rs 307.05 to Rs 603.00 , while the company’s market capitalisation stood at Rs 68.81 billion . The stock was trading at a P/E ratio of 35.95 and had a dividend yield of 1.88% . The rally came after Saregama India reported revenue from operations of Rs 287.44 crore in Q4 FY26, compared with Rs 240.82 crore in the corresponding quarter last year. This marked a year-on-year rise of around 19.4% . The company’s EBITDA rose sharply to Rs 121 crore , compared with Rs 80.3 crore in Q4 FY25. EBITDA margin expanded to 42.1% , compared with 33.35% in the same quarter last year, indicating stronger operating profitability. Profit for the March quarter stood at Rs 74.14 crore , compared with Rs 59.86 crore in the year-ago period. Basic and diluted earnings per share came in at Rs 3.86 , compared with Rs 3.11 in Q4 FY25. For the full year ended March 31, 2026, Saregama India reported revenue from operations of Rs 984.62 crore , compared with Rs 1,171.36 crore in FY25. Full-year profit attributable to owners of the company stood at Rs 207.07 crore , compared with Rs 204.26 crore in the previous year. Overall, Saregama India shares moved higher as investors reacted to strong Q4 revenue growth, higher EBITDA, margin expansion and improved quarterly profit, even as full-year revenue remained lower on a year-on-year basis. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.