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Informist, Thursday, May 21, 2026                                      Tel +91 (22) 6985-4000

Equity Alert: Nifty 50 May ends at discount of 19.70 points to spot index

MUMBAI--1625 IST--The May futures contract of the Nifty 50 closed at a discount of 19.70 points to the spot index Thursday. Open interest in the contract rose nearly 10% to 17.12 million, according to provisional data.

--Nifty 50 closed at 23654.70 points, down 4.30 points vs Wednesday

--Nifty 50 May closed at 23635.00 points, down 33.50 points or 0.1% vs Wednesday

Nifty 50 options, expiring Tuesday, with maximum change in open interest:

Call: 23800, Put: 22500

Nifty 50 options, expiring Tuesday, with maximum open interest:

Call: 25000, Put: 22500

(Anshul Choudhary)

Equity Alert: Benchmark indices end mixed after volatile session; RIL dn 1%

MUMBAI--1540 IST--Benchmark indices closed mixed after a volatile session Thursday. The Nifty 50 was weighed down by index heavyweight Reliance Industries and Bharti Airtel, which fell around 1% each. The Nifty 50 ended at 23654.70, down 4.30 points, and the BSE Sensex ended at 75183.36, down 135.03 points or 0.2%.     

Grasim Industries ended as the top gainer among Nifty 50 constituents, up over 6%. Brokerages took a positive stance on the company after its March quarter earnings Wednesday. Nuvama upgraded Grasim Industries to 'buy' because of the company gaining market share in the paints business. InterGlobe Aviation closed over 3% higher and was the second-highest gainer in the Nifty 50. Apollo Hospitals Enterprise closed nearly 3% higher. Max Healthcare Institute ended nearly 1% higher ahead of its Jan-Mar results later in the day. 

On the other hand, Bajaj Finance was the major laggard in the Nifty 50. Fast moving consumer goods stocks Hindustan Unilever, Tata Consumer Products, and Nestle India closed around 1% lower each. IT companies Tech Mahindra and Infosys closed over 1% lower each. Bajaj Finserv, Bharti Airtel, Shriram Finance, NTPC, and Oil and Natural Gas Corp. ended around 1% lower each as well. 

Among sectoral indices, the Nifty Realty was the top performer, closing 1% higher. The Nifty IT and Nifty FMCG were the underperformers, down nearly 1% each. Barring the Nifty Midcap 50 and Midcap 100, all other broader indices ended higher. Nifty Midcap 50 ended 0.2% lower and Nifty Midcap 100 ended flat, while the Nifty Midcap 150 was up 0.1%. The Nifty Smallcap indices closed 0.5-0.7% higher.

Tata Communications was the top gainer among the Nifty 200 constituents and closed nearly 7% higher. Adani Total Gas closed nearly 5% up. Meanwhile, Jubilant Foodworks and PI Industries were the worst hit stocks in both the Nifty 200 and Nifty 500 indices, down nearly 8% and 6%, respectively. Shares of Jubilant Foodworks fell after the company reported its first fall in bottom line in four quarters.

In the Nifty 500, Honeywell Automation India closed nearly 16% higher. The company's March quarter net profit rose over 14% on year, while sales rose 6%.  (Adhithya Aji)

Equity Alert: European indices show positive bias as West Asia concerns ease

MUMBAI--1514 IST--Major stock markets in Europe rose. The UK's FTSE 100, Germany's DAX Peformance, and Switzerland's SLI advanced for the fouth straight session. Indices displayed some positive bias as Brent crude oil futures slipped more than 6% from Wednesday's highs to around $104 per barrel after US Preident Donald Trump said peace talks with Iran were in final stages. 

In the spotlight Thursday were satellite stocks in Europe after Elon Musk-led SpaceX filed for an initial public offer to debut in the US stock market. Paris-based Eutelsat and Germany's OHB rose around 13%, and Luxemborg-based SES was up almost 3%. Among others, Assassin's Creed maker Ubisoft tumbled almost 17% after the company forecast losses for the year ending March 2027 after posting losses for the year March 2026 as well. 

Business activity in Europe posted the sharpest contraction since October, according to the S&P Global Flash Eurozone Composite Purchasing Managers' Output Index. The index fell to 47.5 in May from 48.8 in April. The reduction was particularly significant in France but business activity declined even in Germany and the rest of the Eurozone. As for prices, the rate of input cost inflation quickened for the seventh consecutive month in May. 

"Supply shortages threaten not only to constrain growth in the coming months but also have the potential to add further upward pressure to inflation," Chris Williamson, chief business economist at S&P Global Market Intelligence, said in the report. "The rise in the survey's price gauges already hints at inflation running close to 4% in the coming months which, combined with the growing signs of the region slipping into an economic downturn, creates a deepening dilemma for policymakers."

The following were the levels of major European indices at 1515 IST:

(Ruchira Kagita)

Equity Alert: Most Asian mkts end higher; Japan, S Korea indices outperform

MUMBAI--1430 IST--Most indices in Asia closed in the green Thursday after US President Donald Trump said the peace talks with Iran were in their final stages. Brent Crude oil prices slipped lower and hovered around $106 per barrel. Markets in South Korea and Japan were particularly buoyant as technology stocks lent support. On other hand, indices in China closed in the red.

South Korea's benchmark KOSPI outperformed its peer indices by a wide margin. The index gained more than 8%, driven by shares of heavyweights Samsung Electronics Co. advancing over 8% and those of SK Hynix rising more than 11%. In Japan, shares of Softbank Group Co. closed almost 20% higher. Tokyo Electron was up almost 6% and Advantest Corp. rose more than 4%. Robust earnings of chipmaker Nvidia Corp. for the April quarter supported sentiment.

On the macroeconomic front, supply disruptions due to the war in West Asia and the closed Strait of Hormuz continue to cast dark clouds for Asian economies. Bank of Japan's Member of the Policy Board Junko Koeda hinted at higher interest rates in a speech Thursday.

Higher inflation could hit households' purchasing power and the degree of damage to domestic consumption will be important to examine, the monetary policy board said. Koeda said the underlying inflation in Japan is already around 2% and may inch higher going forward because of the situation in West Asia. "...believe it is reasonable for the Bank to raise the policy interest rate at an appropriate pace to address high inflation while also considering the trade-offs for the economy," Koeda said.

Koeda also commented on the recent spike in yields on Japanese government bonds. She said a "flight to quality" was limited even as the risk-off sentiment reflected the situation in West Asia. The Bank of Japan had kept the short-term policy interest rate steady at 0.75% at its previous meeting.

Meanwhile, private sector activity in Japan slipped to its lowest level in five months in May, the S&P Global Flash Purchasing Managers' Index showed. Services activity stagnated for the first time in over a year at 50.0 points. Manufacturing ticked up to 54.5 in May, but this was primarily due to stockpiling, according to the report.

"If cost pressures continue to mount and demand softens, business confidence and the broader economy could come under greater strain in the months ahead," Annabel Fiddes, the economics associate director at S&P Global Market Intelligence, said in the report.

The S&P Global Flash Composite Purchasing Managers' Output Index for Australia dropped to 47.8 in May, marking a second contraction in three months. Business sentiment in the private sector was also down in May. Confidence was near the levels seen at the beginning of the COVID-19 pandemic in Mar. 2020. Concerns about costs, potential interest rate hikes and challenging market conditions took centre stage, according to the report.

"These preliminary data provide insight into the health of the Australian private sector as we move into the third month since the outbreak of war in the Middle East. The situation remains one that is challenging to navigate given that the length of the disruption is unknown," Eleanor Dennison, an economist at S&P Global Market Intelligence, said in the report.

The following were the levels of major Asian indices at 1434 IST:

(Ruchira Kagita)

Equity Alert: Indices flat; Grasim rises 6%, FMCG, fincl services cos drag

MUMBAI--1441 IST--Benchmark indices were mostly flat heading into the last hour of trade. The Nifty 50 continued to be weighed down by shares of fast-moving consumer goods and financial services companies along with those of select banks.

At 1441 IST, both the Nifty 50 and the BSE Sensex were flat at 23663.65 and 75335.36, respectively. Shares of Grasim Industries extended their gains, up 6%, and hit their record high at INR 3,180. The stock remained the top gainer in the Nifty 50 and Nifty 200 indices. Conversely, shares of Bajaj Finance shed 1.3% and remained the worst-hit stock in the Nifty 50 index.

FMCG majors Nestle, Hindustan Unilever, and Tata Consumer Products were down 0.5-1.1% and continued to be the main laggards in the Nifty 50 index. Shares of peer ITC were down 0.2% ahead of earnings. Financial services companies Bajaj Finserv, Bajaj Finance, and Shriram Finance remained in the red, down around 1% each. Index heavyweight HDFC Bank gave up its earlier gains and fell 0.5%.

The Nifty small-cap indices outperformed the benchmark, rising 0.5-0.7%, while the Nifty mid-cap indices were mixed. Among sectoral indices, the Nifty Realty was the highest gaining sectoral index, gaining 1.1%. Shares of Prestige Estates were up 1% ahead of its earnings due later in the day. The Nifty FMCG index was among the worst performers, down 0.6%.

In the Nifty 200 index, shares of Siemens Energy India and Adani Total Gas, remained among the top gainers, up around 4% each. Conversely, shares of Jubilant Foodworks and PI Industries remained the worst performers, down 8% and 7%, in the Nifty 200 and Nifty 500 indices.

In the Nifty 500, shares of Honeywell were up over 16% and continued to be the top gainer by a wide margin. Among other gainers, shares of Sammaan Capital and IRB Infrastructure were up 9% and 8%, respectively. Shares of Page Industries were up nearly 2% after the company's March quarter results beat the Street's view. The company reported a net profit of INR 1.79 billion on revenues of INR 12.53 billion. (Shruti Nair)

Equity Alert: Honeywell Auto up over 18% at near-6-month high post Q4 results

MUMBAI--1344 IST--Shares of Honeywell Automation India rose over 18% to an around six-month high of INR 35,735 after the company posted heathly numbers for the March quarter on Wednesday. Following the earnings, JM Financial Institutional Securities upgraded the stock to 'buy' from 'add' and raised its target price by around 11% to INR 44,000.

The company posted a net profit of INR 1.60 billion for the March quarter, up over 14% on year. Its revenue rose nearly 6% to INR 11.81 billion. Sequentially, the company's bottom line rose around 32% and its revenue was up 1%. Its total expenses rose over 4% on year to INR 10.12 billion while its raw material expenses fell over a percent to INR 5.94 billion.

JM Financial expects the company's earnings before interest, tax, depreciation, and amortisation margin to sustain at 15-16% in 2026-27 (Apr-Mar) and FY28. "The recovery in gross margin (40%+) and moderation of other expenses potentially signal that execution of loss orders and the cycle of their associated provisioning may be behind," the brokerage said. The completion of large projects such as aircraft ground lighting at Noida airport should support the company's services revenue from FY27.

The stock pared some of the early gains and, at 1403 IST, traded around 17% higher at INR 35,270. The volume of shares traded so far in the day has risen multifold to over 159,551 from only around 13,000 at the same time Wednesday. The stock has gained over 22% in the last seven sessions and around 8% in a month.

Of the three brokerage reports on the company available with Informist, one each have a 'buy', 'sell', and 'hold' recommedation on the stock. (Ashutosh Pati)

Equity Alert: Jubilant Food tanks; brokerages cite near-term margin pressure

MUMBAI--1325 IST--Jubilant Foodworks was under pressure Thursday after the company reported a weak set of earnings for the March quarter on Wednesday evening. The stock fell around 8% to an intraday low of INR 434.20 on the NSE. The company guided for 5–7% same-store sales growth for Domino's India in the medium term, but the Street believes headwinds in the near term will make it difficult for it to meet this forecast. Margin pressure is likely to persist given elevated prices of liquefied petroleum gas and high logistics costs. Most brokerages remain cautious about the company's growth path going ahead.

Elara Securities (India) believes the company's like-for-like sales growth guidance is "ambitious".  Domino's India could increase its market share and may even benefit from lower prices compared to its peers as small-scale players are unlikely to ramp up their businesses soon. Notwithstanding, the brokerage sees the pizza chain posting 4–4.5% like-for-like sales growth in the medium term.

Elara Securities now expects the company's earnings before interest, tax, depreciation, and amortisation margin in 2026-27 (Apr-Mar) at 19%, compared to 20.2% earlier. Jubilant Food taking any more price hikes is unlikely, Elara Securities noted in a report, adding that headwinds related to logistics costs, delivery workforce, store employee costs, and food inflation persist. The brokerage downgraded the stock to 'accumulate' from 'buy' and reduced its target price by 36% to INR 500 from INR 780.

For the March quarter, Jubilant Food's revenue grew 6% on year and its adjusted EBITDA margin was at 12%. The print was weak compared to its peers given the positive sentiment in the space, Nuvama Wealth Management said in a report. The fast-food company's businesses like Popeyes and Hong's Kitchen dragged its margin and that is likely to continue for some more time, the brokerage noted. Nuvama trimmed its target price on the stock to INR 646 from INR 744 while maintaining its 'buy' call with a "negative bias".

Near-term cost pressures in the labour, utility, and logistics divisions led Emkay Global Financial Services to also cut its estimates for the company's EBITDA from India operations by 6–7%. Jubilant Food guided for the margin to improve 200 basis points by FY28 from FY24, but the brokerage believes the target will likely be achieved later. Emkay Global maintained its 'buy' call on the stock but reduced its target price by 8% to INR 550 from INR 600.

ICICI Securities, however, was optimistic on the quick-service restaurant chain's earnings potential. The brokerage in fact hiked its earnings estimates for the company by 2% for FY27 and FY28 while reiterating its 'buy' stance and keeping its target price on the stock unchanged at INR 570. ICICI Securities sees the company's execution power and its ability to increase its throughput and network. Jubilant Food's revenues from delivery business grew 10.3% on year and its delivery mix was 76.1%. 

Jubilant Food was the top laggard in the Nifty 200 and Nifty 500 indices and over 14 million shares of the company changed hands on the NSE. At 1323 IST, the stock was 7.6% down at INR 436.60, and the trading volume was significantly lower at 556,527 shares compared to the same time Wednesday.  (Ruchira Kagita)

Equity Alert: Indices slip into red, financial services cos main laggards

MUMBAI--1300 IST--Benchmark indices gave up their gains and slipped into the red, with nearly half of the Nifty 50 constituents now in the red. Financial services, fast-moving consumer goods, and select information technology stocks were the main laggards in the 50-stock index. 

At 1250 IST, the Nifty 50 was at 23628.05, down 0.1%, while the BSE Sensex was at 75124.01, down 0.3%. The Nifty small-cap indices outperformed their benchmark peers, up 0.4-0.6%, while the Nifty mid-cap indices were down 0.1-0.4%. Shares of Grasim Industries were up 5% and remained the top performer in the Nifty 50 index after brokerages took an optimistic view on the stock, driven by the favourable performance of the company's paints business. The stock was also the biggest gainer in the Nifty 200 index. 

Shares of Max Healthcare Institute rose nearly 2% ahead of its earnings due later in the day. The company's shares hit a near three-month high earlier in the day at INR 1,111. The stock was up for the seventh consecutive session. In the March quarter, the company's consolidated net profit and revenue are expected to be INR 4.39 billion and INR 26.33 billion, respectively.

Bajaj Finance was the worst-hit stock in the index, down nearly 2%. Peers Shriram Finance and Bajaj Finserv also down around 1% each. IT stocks Infosys and Tech Mahindra were also down about 1% each, and were among the notable losers. 

Shares of ITC gave up its earlier gains and turned flat ahead of its earnings due later in the day. The company's bottom line for the March quarter is expected to be flat on year at INR 49 billion. The company's revenue, however, is expected to increase 6% on-year to INR 183 billion. Shares of peers Nestle, Hindustan Unilever, and Tata Consumer Products were down around 1% each.

Jubilant Foods, PI Industries, and Bosch shed 5–7.5% and were the worst-performing stocks in both the Nifty 200 and Nifty 500 indices. (Shruti Nair)

Equity Alert: Bharat Electronics up 4%, brokerages say order backlog positive

MUMBAI--1248 IST--Shares of Bharat Electronics rose nearly 4% to an intraday high of INR 426.10 on the NSE. Most brokerages remain positive on the stock despite the company's March quarter net profit growing at its slowest pace in 13 quarters. They expect the company's strong order backlog, multi-year order pipeline, diversification into newer businesses, higher indigenisation, and cost efficiencies to support its growth going forward. At 1247 IST, shares of the company were off highs and traded 1.3% higher at INR 418.45.

The company is also expected to be the key beneficiary of an increase in the government's defence capital expenditure, Nuvama said in a report. The brokerage retained its "buy" call on the stock, factoring in an estimated compound annual growth rate of around 14% in its earnings per share over 2025-26 (Apr-Mar) to FY28, backed by strong earnings visibility and elevated margins. The brokerage, however, trimmed its estimates for the company's earnings per share for FY27 and FY28 by around 7% each, aligning execution with the company's guidance. It also cut the target price on the stock by 7.6% to INR 485, indicating an over 17% upside from Wednesday's close.      

 
Brokerage Elara Securities retained its "accumulate" call on the stock due to healthy sales growth, continuous margin expansion, strong order inflow potential in next two years, strong product portfolio and unexplored export opportunities. The brokerage, however, trimmed its target price on the stock over 4% to INR 465, factoring in a cut in its estimates for the company's sales due to delay in receipt of a quick reaction surface-to-air missile order potentially by Jun–Jul from Jan-Mar earlier. 

While most brokerages cut their target price on the stock, Prabhudas Lilladher has raised its recommendation on the stock to 'accumulate' from 'reduce,' given the recent correction in stock price. The brokerage is positive about the long-term growth of the company due to a strong order backlog, strong multi-year order pipeline, diversification in newer business verticals like data centres, cyber-security, drones and quantum communication to aid non-defence growth, and the government's focus on product indigenisation. The brokerage hiked its target price on the stock by over 10% to INR 453. (Arya S. Biju)

Equity Alert: Indices pare gains but remain higher; FMCG cos main laggards

MUMBAI--1150 IST--Headline indices pared some of their earlier gains but managed to remain higher. Gains in diverse companies and select heavyweight stocks supported the Nifty 50 index. However, major laggards in the Nifty 50 index extended their losses, with fast-moving consumer goods and financial services companies among the worst performers.

At 1147 IST, the Nifty 50 was at 23725.30, up 0.3%. The BSE Sensex was at 75435.46, up 0.2%. Broader market indices tracked the movement in their benchmark peers and pared some gains. Nifty mid-cap indices were up 0.1–0.3% compared to 0.4-0.6% earlier, while small-cap indices were up 0.6-0.8% compared to nearly 1% each earlier.

Shares of Bajaj Finance were down 1.5%, at the bottom of the Nifty 50 index. Peers Shriram Finance and Bajaj Finserv were down 0.3% and 0.7%, respectively. FMCG companies remained lower, with shares of Nestle, Hindustan Unilever, and Tata Consumer Products down around 1% each.

Grasim Industries maintained its gains and remained the top performer in the Nifty 50 index. The stock was up nearly 5%. Shares of Apollo Hospitals Enterprise hit a 52-week high of INR 8388 earlier in the session after the company's March quarter consolidated net profit and top line beat the Street's view. The stock was up 2.5%, off its earlier highs, but among the top gainers in the Nifty 50.

Bharat Electronics was up nearly 2%, among the notable gainers. Brokerage Elara Securities maintained its "accumulate" recommendation on the stock due to healthy revenue growth, continuous margin expansion, and strong order inflow potential in the next two years, among other reasons. For the March quarter, the company reported a net profit of INR 22.03 billion, up 5% on year, while its revenues grew 12% on year to INR 101.77 billion.

Index heavyweight stocks ICICI Bank and HDFC Bank were up 0.7% and 0.3%, respectively, lending support to the Nifty 50. Peers Axis Bank and State Bank Of India were 0.8% and 0.2%, respectively.

In the Nifty 200, shares of Adani Total Gas were up nearly 6%, the top gainers. Tata Communications was up 5%, also among the notable gainers. The stock hit a three-month high earlier in the session.

In the Nifty 500, shares of Honeywell Automation India extended their gains and climbed to the top of the index. The stock was up 13% and hit its three-month high earlier in the session. The company's net profit for the March quarter rose around 14% on year to INR 1.60 billion, while revenues rose 6% to INR 11.8 billion. Jubilant Foodworks was down 7%, the worst hit stock in both the Nifty 200 and Nifty 500 indices. (Shruti Nair)

Equity Alert: Bosch falls 5% to one-month low; higher expenses hit Q4 PAT 

MUMBAI--1133 IST--Shares of Bosch fell 5% to a one-month low of INR 34,965. The company after the market closed Wednesday detailed its March quarter earnings. The automotive company's net profit for the reporting quarter took a hit from higher expenses, particularly from an increase in cost of materials.

Bosch reported a nearly 3% on-year growth in its net profit to INR 5.69 billion. The revenue of the company grew over 13% on year to INR 55.66 billion. Total expenses rose over 12% to INR 49.13 billion. Of this, the cost of raw materials rose nearly 29% on year to INR 13.52 billion, which weighed on the bottom line. Moreover, the management of the company in a post-earnings conference call said that their growth outlook is careful and cautious due to the West Asia war.

At 1130 IST, shares of Bosch traded over 4% lower at INR 35,210. Over 63,000 shares of the company changed hands on the NSE, which is nearly five times higher than the number of shares traded till the same time Wednesday. The stock was the second-worst hit in both the Nifty 200 and Nifty 500 indices.  (Adhithya Aji)

Equity Alert: ITC up 1% ahead of Jan-Mar earnings; Q4 PAT seen flat YoY

MUMBAI--1055 IST--Shares of ITC rose almost 1% to the day's high of INR 310.15 ahead of the company's Jan-Mar results, due later in the day. The stock was up for the sixth time in the last seven sessions. The volume of the shares traded so far was slightly higher than that traded till the same time Wednesday.

ITC's net profit for the March quarter is expected to be flat on year at nearly INR 49 billion. The company's revenue, however, is expected to increase almost 6% on year to nearly INR 183 billion. On a sequential basis, the net profit is likely to decline 8.8% and revenue is expected to increase 1.4%.

At 1051 IST, shares of the company were 0.4% higher at INR 308.85 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 Wednesday.

Of the 14 brokerage recommendations available with Informist on the company, five have a 'buy' recommendation with an average target price of INR 377. Of the remaining nine, five have a 'hold' recommendation with an average target price of INR 355 and four have a 'sell' recommendation with an average target price of INR 328.  (Arundathi A R)

Equity Alert: Indices remain higher, most Nifty 50 constituents up

MUMBAI--1040 IST--Headline indices remained higher in early trade, with less than 15 constituents of the Nifty 50 in the red. With crude oil prices hovering around $105 per barrel, the 50-stock index was supported by gains in diverse stocks. Among the few laggards in the index were shares of fast-moving consumer goods and select information technology companies.

At 1035 IST, the Nifty 50 was at 23770.70, up 0.5%, while the BSE Sensex was at 75563.29, up 0.3%. Among broader market indices, the Nifty mid-cap indices rose 0.3-0.6%, while the Nifty small-cap indices rose around 1% each. Shares of Grasim Industries hit a 52-week at INR 3,103.50. The stock was up over 6% after the company announced its earnings for the March quarter Wednesday. Brokerage Nuvama Institutional Equities upgraded the recommendation on the stock to "buy" and increased its target price over 6% to INR 3.546. For the March quarter, the company narrowed its consolidated loss to INR 1.64 billion from INR 2.88 billion in the year-ago quarter. The company also reported its highest ever consolidated revenue at INR 118 billion.

Tech Mahindra was the worst hit stock in the 50-stock index, shedding 1%. Peers Tata Consultancy Services and Infosys were down 0.4% and 0.8%, respectively. Shares of FMCG companies were also among the laggards, with Nestle, Hindustan Unilever and Tata Consumer Products down 0.4-0.7%.

Most sectoral indices were up, with the Nifty Realty and Nifty Energy indices being the highest gainers, up nearly 1% each. The Nifty IT index was the worst hit among sectoral peers, down 0.4%.

In the Nifty 200 index, energy stocks were among the highest gainers. Shares of Adani Total Gas and Siemens Energy India, up 7% and 5%, respectively, were among the top gainers. Shares of Samvardhana Motherson were up 4% and were also among the top gainers in the Nifty 200. The company beat the Street's view for its March quarter earnings. Jubilant Foodworks was the worst hit stock in both the Nifty 200 and Nifty 500 indices. The stock shed over 7% after the company missed consensus estimates for its net profit and sales for the March quarter. (Shruti Nair)

Equity Alert: Max Healthcare rises to three-month high ahead of Q4 earnings

MUMBAI--1035 IST--Shares of Max Healthcare Institute rose over 3% to a near-three-month high of INR 1,111 ahead of its March quarter earnings announcement later in the day. The stock was up for the seventh successive session. It has risen over 9% in this period. The volume of shares traded rose almost 3 times over the same period in the previous session.

Max Healthcare is expected to report a rise of nearly 38% on year in net profit and revenue for the quarter, driven primarily by volume growth, led by bed additions and a ramping up of newly commissioned facilities. Its consolidated net profit is seen at INR 4.39 billion and revenue at INR 26.33 billion.

At 1034 IST, shares of Max Healthcare were up nearly 2% at INR 1,092.75 on the NSE. So far, over 1.3 million shares of the company have changed hands on the exchange, against over 472,000 shares till the same time Wednesday.

Of the seven brokerage reports on the company available with Informist, six have a "buy" recommendation with an average target price of INR 1,268 while just one has a "sell" call.  (Arundathi A R)

Equity Alert: Grasim Ind up 5%; brokerages bullish on co post Q4 results

MUMBAI--1033 IST--Shares of Grasim Industries rose nearly 5% to an all-time high of INR 3,116.90 after the company detailed its March quarter earnings on Wednesday. Brokerages took a bullish stance on the stock due to its improved performance in the paints business. The company narrowed its March quarter net loss, and revenue was sharply above analysts' estimate. The management of Grasim Industries, in a post-earnings conference call, said it aims to be the second-largest decorative paints company in India at the earliest. 

For the March quarter, Grasim Industries reported a consolidated net loss of INR 1.64 billion, against analysts' view of a net loss of INR 1.42 billion. The company incurred a one-time cost of INR 818.6 million. Excluding this one-time cost, the company's net loss would have been INR 817 million, better than the Street's expectations. The top line of the company grew nearly 32% on year to INR 117.74 billion, above the estimate of INR 106.16 billion.

Nuvama Institutional Equities has upgraded Grasim Industries to 'buy' from 'hold' due to its improving operating performance amid sustained market share gains in its paint business. The brokerage raised the target price over 6% to INR 3,546. However, it has cut the earnings before interest, tax, depreciation, and amortisation estimate for 2026-27 (Apr-Mar) by 7% after considering the likely volatility in raw material prices due to the West Asia war, Nuvama said. 

"While cost pressure remains a near-term headwind, it expects margin improvement through operating leverage, procurement efficiencies, and scale benefits," Motilal Oswal said. The brokerage has raised the company's FY27 earnings per estimate 2.6 times on account of high dividend income from UltraTech Cement. Motial Oswal maintained a 'buy' rating on the stock with a target price of INR 3,440.

At 1029 IST, shares of Grasim Industries traded nearly 5% higher at INR 3,107.80. Over 1 million shares of the company changed hands on the NSE, over five times the number of shares traded till the same time Wednesday. The stock was among the top gainers in the Nifty 50.  (Adhithya Aji)

Equity Alert: Rail Vikas shares up 2% ahead of Jan-Mar earnings

MUMBAI--1005 IST--Shares of Rail Vikas Nigam Ltd. rose 2% ahead of the company's March quarter earnings, to be announced on Monday. Prabhudas Lilladher Pvt. Ltd. expects the company's net profit to rise over 9% on year and 54% sequentially to INR 4.08 billion for the March quarter.

Its revenue is seen rising around 5% on year and nearly 48% sequentially to INR 66.59 billion. Rail Vikas' earnings before interest, tax, depreciation, and amortisation are projected at INR 4 billion for the quarter, according to Prabhudas Lilladher.

"Order inflow for Q4 is INR 37 bn (billion) and the company has achieved ~87% of its guidance of INR 85 bn," the brokerage said. It expects an EBITDA margin of 6% for the quarter, flat from the year-ago period.

At 1000 IST, shares of the company were over 1% higher at INR 272.95 on the NSE. Of the two brokerage reports on the company available with Informist, Prabhudas Lilladher has a 'sell' recommendation on the stock with a target price of INR 183 and IDBI Capital Market & Securities Ltd. has a 'hold' recommendation with a target price of INR 334.  (Ashutosh Pati)

Equity Alert: Markets open up after Trump says talks with Iran in final stage

MUMBAI--0930 IST--The benchmark indices opened on a positive note after US President Donald Trump said Washington is in the final stage of talks to strike a deal with Iran to end the war in West Asia. After Trump's comments, the July futures contract of Brent Crude Oil eased to $105.8 per barrel. All Asian markets also opened higher. At 0931 IST, the Nifty 50 was at 23769.60 points, up 110.60 points or 0.5%. The BSE Sensex was at 75598.55 points, up 280.16 points or 0.4%.

Grasim Industries was the top gainer among Nifty 50 constituents, up over 3%. Brokerages took a positive stance on the company after its March quarter earnings Wednesday. Nuvama upgraded Grasim Industries to "buy" because of the company gaining market share in the paints business. InterGlobe Aviation, Bharat Electronics, and Asian Paints rose around 2% each. Eicher Motors, Shriram Finance, Tata Steel, Apollo Hospitals Enterprise, and Tata Motors Passenger Vehicles were up around 1% each.

Trent was the underperformer in the index, down 0.6%. Sun Pharmaceutical Industries, SBI Life Insurance Co., and Titan Co. were down marginally.

All the broader market and sectoral indices were up at the market opening. The Nifty Midcap and Nifty Smallcap indices were up around 1% each. Nifty Realty and Nifty Auto were the best-performing sectoral indices, up around 1% each.

Grasim Idustries was the top gainer among Nifty 200 constituents as well. Energy companies Siemens Energy India and Hitachi Energy India rose nearly 3%. Jubilant FoodWorks was the worst-hit stock in both the Nifty 200 and Nifty 500 indices, down over 6%. Wednesday, the company reported its first fall in bottom line in four quarters. Sammaan Capital was the top gainer in the Nifty 500, up nearly 9%, while Ola Electric fell over 3%.  (Adhithya Aji)

Equity Alert: Indices in Asia rise on US-Iran peace deal hopes, tech rally

MUMBAI--0830 IST--Stock markets in Asia were up, mirroring the rise on Wall Street overnight. Indices in the region were buoyed by President Donald Trump saying the US was in the final stage of talks with Iran. Brent crude oil futures slipped almost 6% from Wednesday's high to around $105 per barrel.

"If I can save war by waiting a couple of days or I can save people being killed by waiting a couple of days, I think it's a great thing to do," Trump told reporters at Joint Base Andrews, Maryland.

In Japan, the Nikkei 225 Day was up almost 4% and TOPIX was up 2%. Shares of heavyweight Softbank Group Corp. soared almost 20%, boosted by chip giant Nvidia Corp.'s stellar earnings for the quarter ended April. South Korea's benchmark KOSPI outperformed peers in the region and was up 6%, supported by its dominant constituent, Samsung Electronics Co. Shares of the electronics giant surged over 6%. The company struck a tentative deal with its union to avert a strike planned over May 21 and Jun. 7, The Wall Street Journal reported.

In macroeconomic news, Japan's exports rose 14.8% on year, driven by semiconductor machinery. Imports, meanwhile, grew 9.7% on year. The Asian country's trade balance in April narrowed to 301.9 billion yen (INR 188.3 billion) in April, from 643 billion yen in March.

The following were the levels of major Asian indices at 0832 IST:

(Ruchira Kagita)

Equity Alert: To open higher on Trump's positive comments, oil at $105/bbl

MUMBAI--0820 IST--Benchmark stock indices are likely to extend gains Thursday and open higher after US President Donald Trump said talks with Iran were in the final stages. Indices are also expected to track early gains in their Asian peers. Brent crude oil prices eased to $105 a barrel after Trump's comments. At 0812 IST, Brent crude oil July futures were 0.4% higher at $105.47 per barrel.

"We'll either have a deal or we're going to do some things that are a little bit nasty. But hopefully that won't happen," NDTV reported, quoting Trump as saying. "I'm in no hurry. I just, ideally, I'd like to see few people killed, as opposed to a lot," he said.

At 0814 IST, the May futures contract of the GIFT Nifty was a tad lower at 23810.50 from its previous close. The movement of the GIFT Nifty suggested a higher opening for the benchmark indices and the spot level of the GIFT Nifty was over 150 points higher from the Nifty 50's previous close of 23659.

"The benchmark Nifty index is consolidating in a Symmetric Triangle formation on intraday charts having resistance in the 23700-23800 spot zone and supports at 23450-23300 spot zone," Vipin Kumar, derivatives and technical analyst at Globe Capital Market, said. "A break on either side of the formation will start a short term move in that direction. By the time it is trading within the mentioned range, we suggest traders to maintain stocks and sector specific trading approach."

Max Healthcare Institute and ITC will be in focus Thursday, as the companies will announce their March quarter earnings later in the day. Max Healthcare is likely to post a nearly 38% on-year rise in its net profit and revenue for the March quarter, driven primarily by volume growth, led by bed additions and a ramp-up of newly commissioned facilities. Its consolidated net profit is seen at INR 4.39 billion and revenue at INR 26.33 billion. The stock closed nearly 1% higher Wednesday at INR 1,075.70 on the National Stock Exchange.

ITC's net profit for the March quarter is expected to be flat on year at nearly INR 49 billion. The company's revenue, however, is expected to increase almost 6% on year to nearly INR 183 billion. On a sequential basis, the net profit is likely to decline 8.8% and revenue is expected to increase 1.4%. The stock closed almost 1% lower Wednesday at INR 307.55 on the NSE.

Apollo Hospitals Enterprise reported its March quarter earnings post market hours Wednesday. Its consolidated net profit for the quarter rose 36% on year to INR 5.29 billion and surpassed analysts' estimate of INR 4.75 billion. The top line of the company in Jan-Mar grew over 18% on year to INR 66.06 billion, and was above expectations of INR 64.52 billion. Shares of the company ended nearly 1% higher at INR 8.078.50 Wednesday on the NSE.

South Korea's KOSPI was the highest gainer among Asian equity indices and gained over 6% in early trade. All three US indices settled higher Wednesday, over 1% higher each.  (Arundathi A R)

Equity Alert: US Indices end higher, supported by Nvidia's strong earnings

MUMBAI--0750 IST--Stock indices on Wall Street ended higher Wednesday, supported by chipmaker Nvidia Corp.'s stellar earnings for the quarter ended April. The NASDAQ Composite and the S&P 500 snapped their three-session losing streak, supported by technology stocks.

'AI Darling' Nvidia posted a strong set of earnings for the quarter. The company's revenue was 85% higher on year at $81.6 billion, beating the consensus forecast of $78.9 billion. Nvidia's net income, meanwhile, rose threefold to $58.3 billion. Analysts had forecast the chip company's net income at $42.9 billion.

Nvidia's revenue from data centre computing was up 77% on year at $60.4 billion while sales from its data centre networking were up almost three times on year at $14.8 billion. Shares of the chip giant closed 1.3% higher. "The buildout of AI factories — the largest infrastructure expansion in human history — is accelerating at extraordinary speed," said Jensen Huang, founder and chief executive officer of Nvidia.

Nvidia's robust earnings drove other technology stocks higher. Shares of Micron Tech closed almost 6% up, those of Advanced Micro Devices rose 8%, Qualcomm 3.5%, and Broadcom nearly 2%. Shares of Tesla and Amazon also closed 3% and 2% higher, respectively.

"The market is coming off a really strong earnings season that delivered positive revisions to earnings expectations, but concerns around inflation and demand destruction in the economy are proving persistent," Scott Helfstein, head of investment strategy at Global X ETFs, told CNBC.

On the macroeconomic front, war-led inflation fears sustain. Minutes of the Federal Open Market Committee's Apr. 28-29 meeting showed the Federal Reserve may raise interest rates if inflation remained above the 2% target for longer, particularly as a fallout of the war in West Asia. Many participants suggested that an easing bias shouldn't be indicated.

"...the staff viewed the possibility that inflation would be more persistent than anticipated as a salient risk," according to the minutes. Inflation is expected to slow after the first half of this year and be closer to 2% by the end of next year. As for the health of the labour market, many believed that the recent low rates of job growth were not necessarily indicative of fragility.

Following were the closing levels of major US indices on Wednesday:

(Ruchira Kagita)

US$1 = INR 96.20

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.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

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