Equity Alert
InterGlobe Aviation down 2% ahead of Jan-Mar earnings
This story was originally published at 11:29 IST on 29 May 2026
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Equity Alert: InterGlobe Aviation down 2% ahead of Jan-Mar earnings
MUMBAI--1120 IST--Shares of InterGlobe Aviation fell over 2% to the day's low of INR 4,460 as the company is expected to post a net loss for Jan-Mar. The company's earnings are scheduled to be announced later in the day. The stock declined more from its opening levels Friday. The volume of the shares traded so far fell nearly 42% from that till the same time Wednesday.
The IndiGo operator is seen reporting the slowest on-year rise in top line in the last 20 quarters as the industry was affected by the ramifications of the West Asia war. The company is expected to report a loss of INR 19.86 billion and revenue is expected to grow only 2% on year and fall almost 4% on quarter to INR 225.69 billion for the March quarter.
At 1107 IST, shares of the company were over 2% lower at INR 4,463.20 on the NSE. So far in the day, over 241,000 shares of the company have changed hands on the exchange, lower than nearly 415,000 shares traded till the same time Wednesday.
Of the nine brokerage recommendations available with Informist on the company, five have a 'buy' recommendation with an average target price of INR 5,940. Of the remaining four, two have 'sell' and the other two have a 'hold' call on the stock. (Arundathi A R)
Equity Alert: Indices swing between gains and losses in first hour of trade
MUMBAI--1100 IST--Headline indices swung between gains and losses during the first hour of trade. The advance-decline ratio was skewed towards the gainers but not by a wide margin. Technology stocks limited the fall in the Nifty 50. While the small-cap indices outperformed the benchmark peers, the mid-cap indices fell sharply.
At 1058 IST, the Nifty 50 was flat at 23904.25 and the BSE Sensex was up 0.1% at 75971.21. In the broader market, the small-cap indices gained around 0.5% and the mid-cap indices fell about 0.1%. The Nifty IT index was the top sectoral gainer. All stocks in the technology index were up 1–4?rring Oracle Financial Services, which was down 0.4%.
Traders reacted to a slew of March quarter earnings. Shares of Alkem Laboratories and GMR Airports rose around 4% and 5%, respectively, after they reported a healthy set of earnings for the quarter ended March. While Alkem Laboratories may face some near-term margin pressure, brokerages were positive on growth in the company's domestic business on the back of demand for Semaglutide, and earnings per share are seen going up for the company due to its lower tax rate of 27-29% going forward. Aditya Infotech hit an upper circuit of 10% at INR 2,903.5 after the company posted a threefold increase in net profit for the March quarter.
On the other hand, Bharat Dynamics and Schneider Electric Infrastructure were down 7% and 5%, respectively. The weapons manufacturer's March quarter profit tanked 59% on year and sales fell 73%. Meanwhile, Schneider Electric's net profit plummeted 60% on year. Shares of Ashok Leyland were also under pressure intraday even as the company posted a healthy set of earnings for the March quarter. Market participants were likely bearish on the commercial vehicle maker's near-term margin potential given the disruptions due to the West Asia war. Ashok Leyland fell almost 3%. (Ruchira Kagita)
Equity Alert: Asian Paints tad up at four-month high ahead of Q4 earnings
MUMBAI--1045 IST--Shares of Asian Paints were a tad higher Friday ahead of the company's March quarter earnings later in the day. The stock rose nearly 1% to an over four-month high of INR 2,696. The stock was up for the second session and gained almost 2% during this period. At 1035 IST, shares of the company were marginally higher at INR 2,678.
Asian Paints is expected to report steady growth in its bottom line for the quarter despite cost inflation stemming from supply disruptions caused by the war in West Asia. The company's net profit for Jan-Mar is expected to rise 20% on year to INR 10.46 billion. Its top line is expected to rise 5% on year to INR 87.89 billion. The company's volumes and gross margins are expected to remain stable during the quarter.
So far in the day, over 237,000 shares of the company have changed hands on the exchange, higher than nearly 173,000 shares traded till the same time Wednesday.
Of the 14 brokerage recommendations available with Informist on the stock, 10 have a 'buy' recommendation with an average target price of INR 3,107. Of the remaining four, two have a 'hold' recommendation and two have a 'sell' call on the stock. (Arundathi A R)
Equity Alert: Markets open tad higher amid US-Iran peace deal uncertainty
MUMBAI--0937 IST--The benchmark indices opened slightly higher Friday amid uncertainty around the peace negotiations between the US and Iran. US President Donald Trump is yet to give his approval to a deal to extend the ceasefire in West Asia for another 60 days. The July futures contract of Brent Crude Oil fell sharply to a little over $92 per barrel. The potential deal between the US and Iran led to the fall. Asian markets also opened higher.
In the domestic market, information technology stocks were the major gainers. Wipro, Infosys, HCL Technologies, Tata Consultancy Services, and Tech Mahindra were the top gainers in the Nifty 50, rising 1-4% at the opening. At 0937 IST, the Nifty 50 was at 23933.35, up 26.20 points or 0.1%. The BSE Sensex was at 75993.29, up 125.49 points or 0.2%. Heavyweight Reliance Industries was up 1%. Maruti Suzuki India, Bajaj Auto, Tata Motors Passenger Vehicles, Larsen & Toubro, Jio Financial Services, and Shriram Finance were up around 1?ch.
Oil and Natural Gas Corp. was the worst hit stock in the Nifty 50, down nearly 2%. The oil explorer fell as global crude oil prices eased. Eicher Motors, Bharti Airtel, Bharat Electronics, Max Healthcare Institute, and SBI Life Insurance Co. were down around 1?ch. Heavyweight HDFC Bank fell nearly 1% as well.
All the broader market indices were in positive territory. The Nifty Midcap indices were up 0.1-0.2%. The Nifty Smallcap indices were up 0.2-0.3%. The Nifty IT was the top gainer among sectoral indices, up nearly 2%. Nifty Infrastructure was the worst hit, down 0.4%.
GMR Airports was the top gainer among Nifty 200 constituents, up over 5%, after the company reported a net profit for the March quarter Wednesday. For the year-ago quarter, the company had reported a net loss. Alkem Laboratories also rose nearly 5%. In contrast, Bharat Dynamics was the worst hit stock in the Nifty 200 and Nifty 500 indices, down over 7%. The company's revenue for the March quarter fell 73% on year and the net profit declined 59% on year.
In the Nifty 500, Aditya Infotech was the top gainer, up 10%. Schneider Electric fell nearly 5%. The company's net profit for the March quarter fell 60% on year. (Adhithya Aji)
Equity Alert: May open lower amid ceasefire deal uncertainty; oil price down
MUMBAI--0845 IST--Domestic benchmark indices may open slightly lower despite easing of crude oil prices to around $93 a barrel as the US and Iran closed in on a memorandum of understanding for a ceasefire extension. However, US President Donald Trump's pending approval for the proposed 60-day ceasefire deal is expected to lead to negative sentiment for the domestic equity market. The market was shut Thursday for Id-ul-Zuha.
The US and Iran reached a preliminary memorandum of understanding for a ceasefire extension for 60 days and started negotiations to permanently end the war, Al Jazeera reported, quoting officials. "The framework still needs President Donald Trump's final approval. If finalised, the agreement would be a major breakthrough after weeks of stalled diplomacy," US officials told Al Jazeera Thursday. In another development, Iran's armed forces fired missiles at unidentified targets late Thursday, CNBC reported, quoting the state media outlet Fars.
At 0843 IST, Brent crude oil July futures were 1% lower at $92.76 a barrel. Crude oil prices were down for the third session in a row, falling to a low of $92 a barrel Thursday for the first time since Apr. 20.
"Markets are likely to witness a bit negative opening on back of global cues," Ruchit Jain, head of technical research at Motilal Oswal, said. "However, we are likely to witness buying interest at lower levels as the broad markets momentum remain strong. Hence, traders are advised to keep a buy on dip approach and trade with a positive bias."
At 0807 IST, the June futures contract of the GIFT Nifty was largely flat at 23882.50. This was over 24 points below the Nifty 50's close of 23907.15 on Wednesday.
Asian Paints and InterGlobe Aviation will detail their March quarter earnings later in the day. Asian Paints is expected to report steady growth in its bottom line for the quarter despite cost inflation stemming from supply disruptions caused by the war in West Asia. The company's net profit for Jan-Mar is expected to rise 20% on year to INR 10.46 billion. Its top line is expected to rise 5% on year to INR 87.89 billion. Shares of Asian Paints closed almost 1% higher Wednesday.
InterGlobe Aviation, the operator of IndiGo, is expected to report a net loss for the March quarter. Its top line is seen rising the least in the last 20 quarters as the industry was affected by the ramifications of the West Asia war. The company is expected to report a loss of INR 19.86 billion and revenue is expected to grow only 2% on year and fall almost 4% on quarter to INR 225.69 billion. Shares of InterGlobe Aviation ended 2% higher Wednesday.
Among Asian markets, Taiwan's TAIEX was the top gainer, up over 2%. All the three major US indices also settled higher Thursday. (Arundathi A R)
Equity Alert: Asian indices rise as sentiment up on hopes of US-Iran deal
MUMBAI--0822 IST--Stock markets in Asia cheered reports of the US and Iran working on a memorandum of understanding for a 60-day extension of the ceasefire. Media reports suggested that US President Donald Trump was yet to sign the agreement. Brent crude oil futures slipped more than 5% lower from Thursday's highs to around $93 per barrel. Almost all indices in the region were firmly higher except those in China. The country's SSE Composite displayed a negative bias while the CSI 300 was flat.
US Vice-President J.D. Vance said both Washington and Tehran were going back and forth on some issues, including that of Iran possessing enriched uranium, the BBC reported. "We're not there yet, but we're very close and we're going to keep on working at it," Vance said.
In South Korea, the benchmark KOSPI gained over 2% in early hours of the session. Among the key stocks was LG Electronics. Shares of LG Electronics shot up 26?ter the company announced a series of automotive innovations built using Google's technology. "The solution supports automakers to significantly reduce the cost of deploying multi-display in-cabin systems," CNBC reported LG Electronics as saying.
Meanwhile, the rate of unemployment in Japan fell to 2.5% in April from 2.7% in March. This is the lowest rate reported since July 2025. Those newly seeking jobs fell 10.9% to 490,000 in the previous month and the country's labour force participation rate rose to 64.4% from 63.6% in March.
Following were the levels of major Asian indices at 0822 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4930.5839 | 0.33 |
| Hang Seng Index | 25108.20 | 0.41 |
| Nikkei 225 Day | 65896.57 | 1.86 |
| TOPIX FIRST SECTION | 3953.48 | 1.32 |
| KOSPI | 8355.68 | 2.08 |
| FTSE Singapore Strait Times | 5018.82 | 0.59 |
| S&P/ASX 200 Index | 8681.80 | 1.03 |
(Ruchira Kagita)
Equity Alert: US indices end higher Thu; NASDAQ, S&P 500 hit new highs again
MUMBAI—0740 IST--Wall Street ended on a strong note Thursday. The NASDAQ Composite and the S&P 500 posted new all-time-highs, while the Dow Jones Industrial Average closed marginally higher. Investors were buoyed by reports of the US and Iran reaching a 60-day memorandum of agreement for a ceasefire. The deal, however, requires US President Donald Trump's approval, some media agencies reported, citing sources.
Among the key stocks was Microsoft. Shares of the technology major advanced more than 3% on reports of the company unveiling a new coding model in the coming week. Shares of drugmaker Eli Lilly closed more than 4% higher after CVS Health Corp. said it would restore coverage of Eli Lilly's blockbuster weight loss injection Zepbound, according to CNBC.
"Traders are on a hair trigger with the back-and-forth on deal news, and have been leaning long to avoid getting trampled by a better-than-expected outcome. The harder part is that the inflationary forces may not abate as fast as markets want," Jamie Cox, managing partner at Harris Financial Group, told Reuters.
US GDP expanded 1.6% on year in the quarter ended March. The figure was revised 0.4% lower from the first estimate mainly on account of investment and consumer spending. Government spend and exports went up during the quarter. The Wall Street Journal and Reuters had expected the US economy to grow 2% on an annualised basis. Meanwhile, the US Personal Consumption Expenditures index rose 3.8% on year in April. The core personal consumption expenditures index, however, went up 3.3% on year. The inflation figures remain well above the Federal Reserve's 2% target.
"Price pressures are likely to persist over the next few months, and while the Fed cannot fix a supply shock, it cannot ignore one that is feeding into underlying inflation," Olu Sonola, head of US economics at Fitch Ratings, told Reuters.
Following were the closing levels of major US indices Thursday:
|
US Indices |
Levels |
Change in % |
|
Dow Jones Industrial Average |
50668.97 | 0.05 |
|
NASDAQ Composite |
26917.471 | 0.91 |
|
S&P 500 |
7563.63 | 0.58 |
(Ruchira Kagita)
US$1 = INR 95.44
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta
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