Equity Alert
Oil marketing cos up 3% after petrol, diesel prices hiked again
This story was originally published at 12:18 IST on 19 May 2026
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Equity Alert: Oil marketing cos up 3?ter petrol, diesel prices hiked again
MUMBAI--1135 IST--Public sector oil marketing companies Indian Oil Corp., Hindutsan Petroleum Corp., and Bharat Petroleum Corp. posted intraday gains Tuesday after petrol and diesel prices were hiked for the second time in a week to INR 98.64 per litre and INR 91.58 per litre, respectively in Delhi. Indian Oil hiked petrol prices by INR 87 paise a litre and diesel prices by INR 91 paise a litre Tuesday, after raising petrol and diesel prices by INR 3 per litre each on Friday. Shares of IOC, HPCL, and BPCL were up almost 3%. All the three stocks snapped their three-session streak of losses.
IOC is increasing prices gradually to limit the impact on consumers and keep inflation in check, a senior official from the company told Informist. "We don't want to do it all in one go as that will have an impact on inflation," the official said.
Oil marketing companies' auto-fuel integrated gross margin of (-) INR 1.6 per litre is below the historical average of INR 12.6 per litre, JM Financial Institutional Securities highlighted in a report. This difference indicates that the companies are making a loss of INR 6 per litre in their earnings before interest, tax, depreciation, and amortisation. "OMCs (oil marketing companies) still need fuel price hike of INR 6–9/ltr to avoid EBITDA loss and INR 14-17/ltr to earn normalised EBITDA," JM Financial said in a report. The brokerage's calculations do not factor in Tuesday's price hike. (Ruchira Kagita)
Equity Alert: Uno Minda hits 1-mo low; Emkay Global downgrades it to 'reduce'
MUMBAI--1130 IST--Shares of Uno Minda slipped almost 6% to INR 1,007.50, their lowest level in a month. Emkay Global Financial Services expects the auto ancillary company to see some margin pressure in the near term. It downgraded the stock to 'reduce' from 'add' and trimmed its target price over 19% to INR 1,050 from INR 1,300.
Emkay Global trimmed its earnings per share estimates for the company by 15–16% for 2026-27 (Apr-Mar) and FY28. The brokerage now sees the company's revenue rising at a compounded annual rate of 20?tween FY26 and FY28, as compared to 24% over FY22-FY26 earlier. While the management did not reveal the revenue outlook for the June quarter, it said that the impact of commodity inflation and labour costs would be sizeable during the period, Emkay Global noted in the report.
Uno Minda's consolidated net profit for the March quarter beat the Street's estimates. The net profit was over 22% higher on year at INR 3.26 billion. Analysts had expected the company's net profit at INR 3.17 billion. Meanwhile, its revenue for the reporting quarter was up nearly 18% on year at INR 53.36 billion. At 1130 IST, Uno Minda was down almost 2% at INR 1,047 on the NSE and over 1.4 million shares of the company exchanged hands so far, slightly higher than 1 million shares traded till the same time Monday. (Ruchira Kagita)
Equity Alert: Astral dn for third day after Q4 PAT, sales miss Street's view
MUMBAI--1115 IST--Shares of Astral continued to fall for the third straight session Tuesday after the company's net profit and sales missed the Street's view for the March quarter. The stock fell almost 7% to an over three-month low of INR 1,440.50, and shed nearly 8% in the last three sessions.
The company reported a consolidated net profit of INR 2.13 billion for the March quarter, up nearly 19% on year but below expectations of INR 2.49 billion. Its consolidated top line for the quarter was INR 20.89 billion, up over 24% on year, but this too missed analysts' estimate of INR 21.63 billion. The total expenses of the company grew similar to the revenue growth. Total expenses of Astral for the quarter rose 24% on year to INR 18.03 billion.
PL Capital, formerly Prabhudas Lilladher, expects the company to achieve volume growth of 15% at a compounded annual rate in its pipes and fittings business over 2025–26 (Apr-Mar) and FY28. The brokerage estimated the company's sales to grow at a compounded annual rate of 16.6%, earnings before interest, tax, depreciation, and amortisation at 20.2%, and profit after tax at 31.3% over FY26 to FY28. It trimmed the earnings estimates for FY27 and FY28 by 4.4% and 4.0%, respectively. PL Capital retained its 'buy' recommendation on the stock with an over 3% cut in its target price at INR 1,813.
At 1113 IST, shares of Astral were over 5% lower at INR 1,462.10 on the NSE. So far in the day, over 1 million shares of the company have changed hands on the exchange, higher than over 108,000 shares traded till the same time Monday.
Of the 13 brokerage recommendations available with Informist on the company, 10 have a 'buy' recommendation with an average target price of INR 1,825. Of the remaining three, two have a 'hold' recommendation and one has a 'sell' recommendation on the stock. (Arundathi A R)
Equity Alert: Adani cos up; US justice dept dismisses charges vs Gautam Adani
MUMBAI--1112 IST--Shares of most Adani group companies traded on a positive note Monday after the US Department of Justice withdrew its charges against Adani Group Chairman Gautam Adani and his nephew Sagar Adani. The department also dropped charges against Adani Green Energy Managing Director Vneet S Jain. The Department of Justice has moved a motion seeking the dismissal of the charges of alleged securities and wire fraud.
The justice department sought a complete dismissal that prevents any prosecution against Gautam Adani and other defendants on the matter before the US District Court for the Eastern District of New York. On Monday, in a different case, Adani Enterprises agreed to pay $275 million to the US Treasury Department's Office of Foreign Assets Control for violations of Washington's sanctions on Iran energy products. The issue pertains to the Indian conglomerate's purchase of Iranian liquefied petroleum gas between November 2023 and June 2025.
Shares of Adani Enterprises, Adani Green Energy, and Adani Total Gas rose 2–4%, while Adani Power gained 0.2%. Meanwhile, Adani Ports and Special Economic Zone and Adani Energy Solutions were down 0.3% and 0.2%, respectively. (Adhithya Aji)
Equity Alert: Indices rise more; shares of IT, FMCG cos main gainers
MUMBAI--1040--Benchmark indices rose further, with most Nifty 50 constituents trading with gains. Technology stocks were the top gainers, and shares of fast-moving consumer companies and insurance companies also rose. Among the main laggards were shares of select energy companies and private banks. The trend seen in the benchmarks was mirrored across sectoral indices, with the Nifty IT being the highest gainer, up 4%, while the Nifty Private Bank index was down around 0.1%, the only sectoral index in the red.
At 1033 IST, the Nifty 50 was at 23756.50, up 0.5%, while the BSE Sensex was at 75631.59, up 0.4%. Infosys was the highest gainer in the 50-stock index, up 4.3%. The stock rose for the third session straight. Shares of peers Tata Consultancy Services, HCL Technologies, Tech Mahindra, and Wipro rose 3–4%. Shares of FMCG companies Nestle, ITC, and Hindustan Unilever rose around 1–1.4%.
Coal India was the worst hit in the Nifty 50 index, down 1%. Oil and Natural Gas Corp. was down 0.6%. HDFC Bank, ICICI Bank, and Kotak Mahindra Bank shed 0.2-0.8%. Earlier in the day, 18.6 million shares of ICICI Bank were sold at INR 1,233 per share in a large deal on the NSE.
IT stocks also lead the gains in the Nifty 200 index, with shares of Coforge, Mphasis, and Persistent Systems climbing 4–5%. Astral was the worst hit stock in the index, down over 6%. The stock hit a three-month low of INR 1440.50 in early trade. The company missed the Street's view on its consolidated bottom line and sales for the March quarter. In the Nifty 500 index, Latent View Analytics was the highest gainer, climbing nearly 8%, while Jain Resource Recycling was the worst hit stock, down nearly 16%. (Shruti Nair)
Equity Alert: Bharat Electronics tad up ahead of Q4 results announcement
MUMBAI--1025 IST--Shares of Bharat Electronics rose almost 1% to the day's high of INR 430.60 ahead of the company detailing its March quarter results later in the day. The stock was up for the second straight session and gained nearly 2% during this period. The volume of shares traded Tuesday was almost in line with that traded in the previous session.
The aerospace and defence electronics company is expected to report a moderate on-year increase in its top line and almost flat growth in the bottom line for the March quarter. Its net profit is estimated at INR 21.06 billion, flat on year and up 31% on quarter. Its top line for the quarter is pegged at INR 98.31 billion, up nearly 8% on year and 38% on quarter.
At 1019 IST, shares of the company were 0.2% higher at INR 427.55 on the NSE. So far in the day, nearly 3 million shares of the company have changed hands on the exchange, slightly higher than the shares traded till the same time Monday.
Of the 11 brokerage recommendations available with Informist on the company, eight have a 'buy' recommendation with an average target price of INR 504. Of the remaining three, two have a 'hold' recommendation and one has a 'sell' recommendation on the stock. (Arundathi A R)
Equity Alert: Indices open higher after Trump defers attack on Iran
MUMBAI--0955 IST--Benchmark indices opened higher Tuesday after US President Donald Trump said that he had postponed a "scheduled attack on Iran" as per the request of West Asian allies. Trump also added that serious negotiations are taking place. The July Futures of Brent crude oil were down 2% at $109.8 per barrel against the previous close of $112.10 per barrel. Information technology companies were the major gainers in early trade.
At 0941 IST, the Nifty 50 was at 23730.90 points, up 80.95 points or 0.3%, and the BSE Sensex was at 75623.96, up 308.92 points or 0.4%.
IT companies Infoys, Tech Mahindra, HCL Technologies, Tata Consultancy Services, and Wipro rose 2-4%. Adani Enterprises was up nearly 3%. Trent, HDFC Life Insurance Co., SBI Life Insurance Co., Asian Paints, and InterGlobe Aviation rose 1?ch. On the other hand, Hindalco Industries was the worst hit stock in the Nifty 50, down 1%. State-owned energy companies Oil and Natural Gas Corp. and Coal India fell nearly 1?ch. Kotak Mahindra Bank, UltraTech Cement, Titan Co., JSW Steel, and Shriram Finance fell 0.5-1.0%.
All the broader market indices were in the green. The Nifty Midcap rose 0.8-1.0%, and the Nifty Smallcap indices gained 0.8-0.9%. Nifty IT rose nearly 4% to be the best performing sectoral index. Nifty Metal and Nifty Private Bank were the underperforming sectoral indices and fell 0.5?ch.
Infosys, Coforge, and LTM were the major gainers in the Nifty 200. They were up 4-5%. In contrast, Astral was the major laggard in the Nifty 200 and fell nearly 5%. The company's consolidated net profit and sales for the March quarter failed to meet the analysts' estimate. In the Nifty 500, Brainbees Solutions was the top gainer and rose over 8%, while Jain Resource Recycling fell nearly 15% to be the worst hit stock in the index. (Adhithya Aji)
Equity Alert: To move in range; bias positive as US postpones attack on Iran
MUMBAI--0825 IST--Benchmark equity indices are likely to move in a range Tuesday after they settled with marginal gains in the previous session. The positive bias is likely to remain after US President Donald Trump postponed a planned attack on Iran. Crude oil prices fell below $110 a barrel again after they breached the level on Monday. Foreign investment flow, rupee levels, oil prices and the March quarter results will be keenly watched.
Trump said he had postponed a planned attack on Iran at the request of Qatar, Saudi Arabia, and the United Arab Emirates, and added that "serious negotiations are now taking place," Al Jazeera reported. Iran's President Masoud Pezeshkian said "dialogue does not mean surrender", and that Tehran had entered the "dialogue with dignity, authority, and the preservation of the nation's rights," the report said.
"I put it off for a little while, hopefully maybe forever, but possibly for a little while" because "we've had very big discussions with Iran, and we'll see what they amount to," CNBC reported, quoting Trump. Trump was planning to resume military operations as Tehran's latest response was seen as insufficient in ongoing negotiations over a deal to end the war, CNBC reported, based on an Axios report.
At 0823 IST, the Brent crude oil July futures contract were down almost 2% at $109.92 a barrel. The futures contract of crude oil fell after rising for the previous three sessions. In the last seven days, the crude oil July futures contract gained 8.5%.
"For today's session, the 23,500 level will continue to act as an immediate support zone," Sundar Kewat, technical and derivatives analyst at Ashika Group, said. "On the upside, 23,800 remains a key resistance level, where the index may face difficulty in sustaining higher levels, as this zone has previously acted as a strong hurdle for the market." On Monday, the Nifty 50 settled at 23649.95, up 6.45 points. The BSE Sensex ended at 75315.04, up 77.05 points or 0.1%. At 0811 IST, the May futures contract of Gift Nifty was 0.3% down at 23649.50 from its previous close. This was marginally lower than the Nifty 50's previous close of 23649.95.
Indian Oil Corp. hiked the retail petrol price to INR 98.64 per litre Tuesday from INR 97.77 per litre in Delhi. The retail diesel price was also raised to INR 91.58 per litre from INR 90.67 per litre in the region. Indian Oil Corp. reported a nearly 57% on-year rise in its net profit to INR 113.78 billion for the March quarter. This was way above analysts' expectations of INR 72.48 billion. Its top line for the quarter grew 7% on year to INR 2.33 trillion, which was below the Street's view of INR 2.44 trillion. The company's domestic sales for Jan-Mar were INR 26.07 million tonnes, higher than the 24.60 million tonnes recorded in the year-ago quarter.
On the earnings front, Bharat Electronics will detail its March quarter earnings Tuesday. The company is likely to report a moderate year-on-year rise in its top line and almost flat growth in the bottom line. Its net profit is expected to be INR 21.06 billion, flat on year but up 31% on quarter. The company's top line is seen at INR 98.31 billion, up nearly 8% on year and 38% on quarter.
Asian equity indices showed a mixed performance in early trade. South Korea's KOSPI shed over 4%, while the S&P/ASX 200 Index gained nearly 1%. Barring the Dow Jones Industrial Average, the other two major US indices closed lower Monday. (Arundathi A R)
Equity Alert: Indices in Asia mixed as Trump calls off new attack on Iran
MUMBAI--0816 IST--Stock indices in Asia were mixed Tuesday morning after US President Donald Trump called off his plan to attack Iran. The July contract of Brent crude oil slipped lower and hovered below $110 per barrel. However, Trump threatened severe attacks on the West Asian nation if an acceptable peace deal is not agreed upon.
"I have instructed Secretary of War, Pete Hegseth, The Chairman of The Joint Chiefs of Staff, General Daniel Caine, and The United States Military, that we will NOT be doing the scheduled attack of Iran tomorrow, but have further instructed them to be prepared to go forward with a full, large scale assault of Iran, on a moment's notice, in the event that an acceptable Deal is not reached," Trump said in a post on Truth Social.
South Korea's benchmark KOSPI declined over 4% in early trade and the index saw more selling pressure compared to its peer indices in Asia. Shares of heavyweight stock Samsung Electronics Co. were down more than 4% and those of SK Hynix fell almost 5%. LG Energy Solution was also down almost 4%.
Meanwhile, Japan's GDP expanded at a better-than-expected 2.1% in the March quarter on an annualised basis. Reuters had forecast the country's economy to grow 1.7%. Better consumption and higher exports drove the growth in GDP.
"The economy may contract in the second quarter but if it's just about prices rising overall, it can probably resume a recovery thereafter. If there's huge supply disruptions, the damage to growth could be so severe the BOJ may not have scope to raise interest rates in June," Yoshiki Shinke, senior executive economist at Dai-ichi Life Research Institute, told Reuters.
The following were the levels of major Asian indices at 0816 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4793.4119 | (-)0.83 |
| Hang Seng Index | 25800.52 | 0.49 |
| Nikkei 225 Day | 60457.35 | (-)0.59 |
| TOPIX FIRST SECTION | 3840.70 | 0.37 |
| KOSPI | 7206.83 | (-)4.11 |
| FTSE Singapore Strait Times | 5026.95 | 0.60 |
| S&P/ASX 200 Index | 8583.30 | 0.92 |
(Ruchira Kagita)
Equity Alert: US indices end mixed as concerns of economic instability rise
MUMBAI--0740 IST--Wall Street ended mixed Monday, with the Dow Jones Industrial Average managing to advance but the NASDAQ Composite and the S&P 500 closing lower for the second consecutive session. With bond yields rising, concerns about high borrowing costs and a stick inflationary situation due to the prolonged war in West Asia mounted.
"There's concern about the rally we've had in a short period of time, and there's some profit-taking," Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder, told Reuters.
Technlogy stocks, however, led to losses in the NASDAQ on Monday. Shares of Micron Technology fell almost 6%, those of SanDisk Corp. over 5%, those of Oracle Corp. more than 3%, and those of Nvidia Corp. and Broadcom around 1?ch. Only four of the 11 S&P 500 sectoral indices ended in the red, and the S&P 500 Information Technology showed the weakest performance compared to its peer indices. The index fell nearly 1%.
"From a positioning standpoint and how stretched things have gotten, probably means that you don't see as sharp of the rallies that we were seeing certainly off the throes of the low in March," Kevin Gordon, head of macro research and strategy at the Schwab Center for Financial Research, told CNBC.
Following were the closing levels of major US indices on Monday:
|
US Indices |
Levels |
Change in % |
|
Dow Jones Industrial Average |
49686.12 | 0.32 |
|
NASDAQ Composite |
26090.734 | (-)0.51 |
|
S&P 500 |
7403.05 | (-)0.07 |
(Ruchira Kagita)
US$1 = INR 96.34
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta
All prices from National Stock Exchange, unless otherwise specified.
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