Stock Market Highlights: Nifty, Sensex End Little Changed Amid Weak Global Cues

• The Nifty 50 ended flat. IndiGo and Wipro were the top gainers, rising 1.8% each, while Eternal fell over 3% as the top loser.
• The broader market closed mixed. The Nifty MidCap 150 fell nearly 0.5%, with ITC Hotels down almost 5.5% and HDFC AMC falling over 4.5%. The Nifty SmallCap 250 ended flat, while MRPL gained over 10.5% and Chennai Petroleum rose nearly 7.5%.
• Nifty IT gained over 0.75% and snapped a two-day losing run. Nifty Realty fell over 1% and extended losses for a fourth session. Auto and Oil & Gas advanced for a second day, FMCG ended a four-day decline, while Metal fell for a second session.

• The Nifty 50 declined 5.75 points, or 0.02%, to close at 24,072.75. The Sensex ended 1.44 points higher at 77,186.87.
• Losses in HDFC Bank and Eternal offset gains in Bajaj Finance and Mahindra & Mahindra.

• 360 ONE WAM’s consolidated net profit rose 14.2% sequentially to Rs 330 crore, while revenue increased 9.9% to Rs 1,226 crore.
• Ebitda grew 16.5% to Rs 773 crore. The Ebitda margin expanded to 63% from 59.5% in the previous quarter.

Elgi Equipments said its subsidiary has received a tariff refund of Rs 25.6 crore from a US authority, according to an exchange filing.

• Alpine Texworld's IPO was subscribed 1.3 times overall as of 3:10 pm on Day 3 of the issue.
• The retail investor portion was subscribed 1.41 times, while the non-institutional investor (NII) segment was subscribed 1.02 times.
• Qualified institutional buyers (QIBs) subscribed 1.09 times of their allocated quota.

• SBI Fund Management's IPO was subscribed 21.63 times overall as of 3:00 pm on Day 3 of the issue.
• Qualified institutional buyers (QIBs) led demand, with their portion subscribed 61.08 times.
• The non-institutional investor (NII) segment was subscribed 21.59 times, while the retail investor quota saw subscriptions of 3.23 times.

• Hero MotoCorp has entered the German market, marking its fifth market in the European Union, according to an exchange filing.
• The company has partnered with KSR for the distribution of its products in Germany.
• The move expands Hero MotoCorp's presence in Europe through a local distribution arrangement.

Germany’s DAX fell 0.37%, the UK’s FTSE declined 0.40% and France’s CAC 40 dropped 0.53%. Switzerland’s SMI lost 0.80%, while Portugal’s PSI 20 fell 1.14%.

South Korea’s Kospi fell 6.37%, while Japan’s Nikkei 225 declined 2.79% and the Shanghai Composite lost 1.85%. Hong Kong’s Hang Seng rose 1.33%, while Australia’s ASX 200 closed flat.

The Nifty 50 traded 5.75 points, or 0.02%, higher at 24,084.25. The Sensex was up 61.77 points, or 0.08%, at 77,247.20.

• GNA Axles reported a consolidated net profit of Rs 38.3 crore in Q1, up 66.5% from Rs 23 crore a year earlier.
• Revenue rose 36.7% year-on-year to Rs 470.4 crore from Rs 344.2 crore.
• EBITDA increased 44.8% to Rs 72.1 crore from Rs 49.8 crore, while EBITDA margin expanded by 85 basis points to 15.3% from 14.5% in the year-ago period.

• BHEL reported a consolidated net profit of Rs 378 crore in Q1, compared with a loss of Rs 456 crore a year ago. The profit also exceeded the analyst estimate of Rs 339 crore.
• Revenue rose 40.3% year-on-year to Rs 7,698 crore from Rs 5,487 crore, ahead of the estimate of Rs 6,129 crore.
• EBITDA stood at Rs 504 crore against an EBITDA loss of Rs 537 crore a year ago and was higher than the estimate of Rs 78.9 crore. EBITDA margin came in at 6.5%, compared with the estimate of 1.3%.
• Other income increased to Rs 214.1 crore from Rs 171.2 crore a year earlier.
• Revenue from the power business grew 52% year-on-year to Rs 5,920 crore, while Power EBIT stood at Rs 562.8 crore against a loss of Rs 510 crore in the year-ago period.

• AstraZeneca Pharma India said it has received approval from the Central Drugs Standard Control Organisation (CDSCO) for Benralizumab Injection, according to an exchange filing.
• Benralizumab is used for the treatment of asthma.
• The regulatory approval enables the company to market the therapy in India.

• ICICI Lombard posted a 46% year-on-year fall in net profit to Rs 403 crore after exceptional items, two large fire losses and higher claims following a Supreme Court ruling. The combined ratio rose to 106.1% from 102.2%, while net premium earned increased 16% to Rs 5,950 crore.
• The stock recorded its biggest intraday decline since March 2020 and touched a two-year low. Motilal Oswal, HSBC and Nomura downgraded the stock and cut their target prices.

• ITC Hotels’ consolidated net profit rose 35.5% year-on-year to Rs 180 crore, while revenue increased 14.8% to Rs 936 crore.
• Ebitda grew 19.5% to Rs 292 crore. The Ebitda margin expanded to 31.2% from 30% a year earlier.

South Indian Bank Net Profit Rises 17.3%

• Net profit up 17.3% at Rs 378 crore vs Rs 322 crore
• NII up 23% at Rs 1,025 crore vs Rs 833 crore
• Operating profit down 12% at Rs 592 crore vs Rs 672 crore
• Provisions at Rs 84.3 crore vs Rs 239.3 crore

Asset Quality - QoQ

• Gross NPA at 1.38% vs 1.43%
• Net NPA at 0.26% vs 0.29%
• Provisions at Rs 84.3 crore vs Rs 34.4 crore

Raymond Realty, marking its entry into the South Mumbai market, will develop around 17 lakh sq. ft. of carpet area, with the project expected to generate a topline of about Rs 8,000 crore, Harmohan Sahni of Raymond Realty told NDTV Profit. The development is likely to be launched within the next 18 months and executed in two phases. Sahni said the company expects pre-sales to grow nearly 20% and remains confident of maintaining its growth momentum, adding that the company continues to evaluate opportunities to expand its development portfolio.

• Karamtara Engineering is preparing to launch its IPO in August after raising Rs 546 crore through pre-IPO placements. The proposed offer comprises a fresh issue of Rs 1,350 crore and an offer for sale of Rs 400 crore.
• The company received SEBI approval in June, according to market sources.

Sterling & Wilson Q1 Results - Cons, YoY

• Net profit up 69.4% at Rs 54.2 crore vs Rs 32 crore
• Revenue down 9.7% at Rs 1,590 crore vs Rs 1,762 crore
• EBITDA down 8% at Rs 78.6 crore vs Rs 85.4 crore
• EBITDA margin at 4.9% vs 4.8%

Karamtara Engineering Ltd., which manufactures engineering steel products for the renewable energy and power transmission sectors, is aiming to launch its proposed Rs 1,750 crore initial public offering (IPO) in August after raising Rs 546 crore through three rounds of pre-IPO placements, according to market sources.

The company has secured the funds through multiple pre-IPO stake sales and funding rounds, reflecting strong investor interest ahead of its planned public issue.

• Newgen Software Technologies’ consolidated net profit fell 40.9% sequentially to Rs 62.8 crore, while revenue declined 21.2% to Rs 357 crore.
• Ebit dropped 67.2% to Rs 46.8 crore. The Ebit margin narrowed to 13.1% from 31.5% in the previous quarter.

• Nifty traded higher in a mild recovery, while Nifty Bank showed a weaker technical setup. Options data indicated range-bound trade, with the rupee and India VIX remaining stable.
• HDFC Life, Ather Energy and Ajanta Pharma will hold their annual general meetings. MSCI adjustments for Torrent Pharma and RBL Bank will take effect at the close, while Tech Mahindra, Wipro and Polycab India will report first-quarter earnings.

• Latent View Analytics rose 3.23%, followed by Zensar Technologies at 2.99% and Newgen Software Technologies at 2.56%. HCL Technologies gained 2.29%.
• Fractal Analytics fell 0.88%, while Hexaware Technologies declined 0.52%.

• Thirty-eight SME IPOs raised Rs 1,891 crore during the April-June quarter, compared with Rs 1,644 crore raised through 37 issues a year earlier. Fresh issues accounted for Rs 1,783 crore, or 94% of the total proceeds.
• Of the 38 IPOs, 21 listed at a premium, 12 closed flat and five debuted at a discount. In the first half of 2026, 78 SME IPOs raised Rs 3,752 crore, compared with Rs 4,004 crore through 88 issues in the year-ago period.

• ICICI Lombard said price competition in fire insurance is unlikely to persist at first-quarter levels after premiums fell 32% during the period. The insurer avoided matching lower prices and prioritised underwriting discipline over market share.
• Management said pricing conditions began improving in June. It also expects health insurance claims to ease in the coming quarters and called for an increase in motor third-party premium rates following the Supreme Court ruling.

The Central Board of Direct Taxes raised the Cost Inflation Index to 384 for FY27 from 376 in FY26. Taxpayers use the index to adjust the purchase cost of eligible capital assets for inflation when calculating long-term capital gains.

• Union Bank’s Asheesh Pandey said first-quarter credit growth showed positive momentum, while earnings were in line with the bank’s strategy and guidance.
• The bank remains cautious about increasing working-capital loans to companies. It is preparing a five-year growth plan focused on efficiency and sustainable growth.

The Sensex gained 0.43% to 77,520.54, near its intraday high of 77,579.69. The Nifty 50 rose 0.37% to 24,168.15, close to the day’s high of 24,186.50.

• Kaynes Technology’s N Muthukumar said commercial production has started and the company expects to reach Rs 250 crore in revenue in the near term.
• He expects India’s semiconductor market to cross $100 billion by 2030 and said the new policy could attract investment. He added that the domestic semiconductor ecosystem will take a few years to develop.

• Shyam Metalics’ subsidiary commissioned an aluminium foil unit in Odisha with an installed capacity of 18,000 tonnes per annum. The facility will manufacture premium-grade foils.
• The company said its aluminium flat-rolled products plant remains on track to start operations in September.

• NSE will introduce futures and options contracts on the Nifty India FPI 150 Index from August 12. The exchange will offer three serial monthly contracts to allow foreign portfolio investors to hedge their exposure onshore in rupees.
• SEBI approved the introduction of derivatives on the index on July 8.

• Laser Power & Infra debuted at Rs 250 on the NSE, a 16.8% premium to its issue price of Rs 214. The stock listed at Rs 269 on the BSE, a premium of 25.7%.
• The Rs 742-crore IPO was subscribed 38.94 times on the final day of bidding.

• The Cabinet approved the Mobile Phone Manufacturing Scheme with an outlay of Rs 62,500 crore for five years. The scheme offers incentives on eligible sales, domestic sourcing, product design and research and development.
• Dixon Technologies rose 4.29%, while Kaynes Technology gained 1.68%.


 

Vedanta Iron & Steel gained 2.31%, Vedanta Aluminium rose 1.11% and Vedanta Power advanced 0.38%. Vedanta Ltd. declined 0.90%, while Vedanta Oil & Gas slipped 0.16%.

• The Cabinet approved the National Investment Policy for Urea-2026 to encourage investment in gas-based urea manufacturing units. The policy sets a return on equity band of 12% to 16% and is estimated to save more than Rs 250 crore for each plant compared with the 2012 policy.
• India Pesticides rose 4.89%, while UPL gained 1.77%. Sumitomo Chemical India climbed 1.49%, while Dhanuka Agritech and Coromandel International fell 0.88% and 0.85%, respectively.


 

Bank of Baroda and Kotak Mahindra Bank rose 0.22% each, while Federal Bank gained 0.14%. Axis Bank fell 0.46%, followed by AU Small Finance Bank at 0.41% and HDFC Bank at 0.28%.

Nifty Bank traded 0.11% lower at 57,696.75 by 9:31 a.m., compared with its previous close of 57,757.85. The index touched an intraday high of 57,931.30 and a low of 57,645.10.

• Nifty IT gained 1.75%, leading sectoral indices. Nifty Consumption rose 0.50%, while Nifty Media and Nifty Auto advanced 0.44% and 0.42%, respectively.
• Nifty Defence fell 0.28%, Nifty Realty declined 0.22% and Nifty Financial Services dropped 0.20%.


 

The Nifty 50 opened 64.35 points, or 0.27%, higher at 24,142.85. The Sensex gained 222.13 points, or 0.29%, to open at 77,407.56.

The Nifty 50 rose 46.95 points, or 0.19%, to 24,125.45 in pre-market trade. The Sensex gained 213.65 points, or 0.28%, to 77,399.08.

The rupee appreciated by as much as two paise to 96.24 against the US dollar in early trade.

Jefferies maintained Buy and raised its target price to Rs 400 from Rs 360 after first-quarter performance exceeded estimates. It raised its FY27 and FY28 Ebitda estimates by 9% and 4%, respectively, citing expected power demand recovery and the company’s capacity expansion plans.

Citi maintained its Buy rating and raised the target price to Rs 255 from Rs 230. It said business momentum and active user additions slowed, while higher ticket sizes supported margin trading facility growth and cash yields.

• CLSA sees support for the Nifty at 23,100–23,103 and resistance at 24,500–24,515. It expects the index to remain within this range until either level is breached.

• The brokerage placed major support at 21,743–21,800 and major resistance at 25,600–26,319. Its technical outlook remains stronger for mid- and small-cap stocks.

• Macquarie said the Mobile PLI 2.0 framework benefits Dixon Technologies and Amber Enterprises. It identified Dixon as the main near-term beneficiary and said the framework supports battery and component manufacturing.

• Jefferies said Dixon was the main beneficiary of the first PLI scheme, though competition has increased. The new scheme has a higher initial outlay but a shorter five-year tenure.

• Camera module applications under ECMS were approved for Kaynes, Syrma, ASUX, Uno Minda and Dixon. Display applications were cleared for Samsung, Dixon and Wangda.

• Jefferies maintained Buy and raised its target price to Rs 880 from Rs 845. Profit exceeded estimates, while net interest margin and asset quality improved.

• Morgan Stanley retained Equal-weight with a target price of Rs 800. It said the quarter met estimates, asset quality improved and provision coverage remained stable.

• Morgan Stanley maintained Overweight with a target price of Rs 3,065. Profit exceeded estimates due to higher investment income and a lower tax rate, while the brokerage raised its FY27 earnings estimate.

• Bernstein retained Outperform with a target price of Rs 3,030. A market recovery and higher yields supported the quarter, while ESOP costs weighed on profit growth.

• Kotak Securities downgraded HDFC AMC to Add from Buy but raised its target price to Rs 3,000 from Rs 2,950. Core earnings rose 10% year-on-year, while the equity mix and blended yields improved.

• Citi maintained Neutral and raised its target price to Rs 2,900 from Rs 2,800. It noted improved mutual fund yields and scheme performance, while flagging competition from smaller asset managers and fintech platforms.

• Morgan Stanley maintained Overweight with a target price of Rs 3,065. Profit exceeded estimates due to higher investment income and a lower tax rate, while the brokerage raised its FY27 earnings estimate.

• Bernstein retained Outperform with a target price of Rs 3,030. A market recovery and higher yields supported the quarter, while ESOP costs weighed on profit growth.

• Kotak Securities downgraded HDFC AMC to Add from Buy but raised its target price to Rs 3,000 from Rs 2,950. Core earnings rose 10% year-on-year, while the equity mix and blended yields improved.

• Citi maintained Neutral and raised its target price to Rs 2,900 from Rs 2,800. It noted improved mutual fund yields and scheme performance, while flagging competition from smaller asset managers and fintech platforms.

• Citi maintained Buy and raised its target price to Rs 945 from Rs 885. It cited product mix, lower cost ratios and yield-curve benefits, while noting a recovery in growth and VNB margins.

• Morgan Stanley retained Overweight with a target price of Rs 670. VNB and VNB margin exceeded its estimates and consensus by about 10%, while persistency weakened in two of five cohorts.

• Bernstein maintained Market-Perform with a target price of Rs 680. It noted margin expansion and said regulatory approval to reclassify Prudential Plc as an investor could reduce the stake-sale overhang.

• Macquarie retained Neutral with a target price of Rs 700. VNB exceeded estimates and product mix supported margins, while retail weakness affected growth visibility.

• Citi maintained its Buy rating and raised the target price to Rs 990 from Rs 950. It said improved product mix and growth through non-parent channels partly offset weakness in the HDFC Bank channel.

• Morgan Stanley retained its Overweight rating but cut the target price to Rs 730 from Rs 745. VNB exceeded estimates, while weak business through HDFC Bank weighed on APE growth.

• Bernstein maintained Outperform with a target price of Rs 810. It said bancassurance sales remained weak, while a recovery in HDFC Bank sales could support growth.

• Macquarie retained Outperform with a target price of Rs 860. It said protection and annuity products supported the business mix, while margins remained stable.

• Citi maintained its Buy rating and raised the target price to Rs 945 from Rs 885. It cited the VNB margin, product mix, lower cost ratios and yield-curve benefits.
• Morgan Stanley retained its Overweight rating with a target price of Rs 670. It said VNB and VNB margin were about 10% above its estimates and consensus, though persistency weakened in two of five cohorts.
• Bernstein maintained Market-Perform with a target price of Rs 680. It said regulatory approval to reclassify Prudential Plc as an investor could ease the stake-sale overhang.
• Macquarie retained its Neutral rating with a target price of Rs 700. It said margin gains offset weakness in retail growth, while growth visibility remained limited.

The Bank of Korea raised its benchmark policy rate by 25 basis points, its first increase since January 2023. The decision came after headline inflation rose to 3.2% in June, the highest level since 2023.

• Nifty July futures fell 0.2% to 24,072, trading at a discount of 6.50 points.
• Maximum Call open interest was at the 24,200 strike, while maximum Put open interest was at the 23,000 strike. Kaynes remained under the F&O ban.

• The price bands for Gujarat Energy and Prime Focus were revised to 20% from 5%.

• Swaraj Suiting was shortlisted under the Short-Term ASM framework.

• Digitide Solutions and IFGL Refractories were excluded from the ASM framework.

• Balu Forge Industries: SNORD Trading bought 7.15 lakh shares at Rs 448.86 each, while L7 Securities sold 7.15 lakh shares at Rs 448.84 each.

• Mrs Bectors Food Specialities: Abakkus Investment Managers bought 29.40 lakh shares at Rs 168.97 each.

• India Tourism Development Corporation: HRTI bought 14,205 shares at Rs 775.66 each.

• Justdial: HRTI sold 11,388 shares at Rs 817.92 each.

• Kusumgar: Irage Broking Services sold 1.69 lakh shares at Rs 592.75 each, while SI Investments Broking bought 5.33 lakh shares at Rs 579.14 each.

• Landmark Cars: Irage Broking Services bought 1.72 lakh shares at Rs 546.86 each and sold the same number of shares at Rs 548.30 each.

• One Mobikwik Systems: FLC Investco sold 7.12 lakh shares at Rs 232.02 each.

• Nuvoco Vistas Corporation: QE Securities bought 9,750 shares at Rs 382.17 each.

• PC Jeweller: HRTI bought 2.33 crore shares at Rs 10.51 each.

• Sumeet Industries: Eagle Fibres, JPB Fibers and Padmini Polytex were among the sellers. Arham Share, KIFS Enterprise, Neo Apex Share Broking Services, Shaktiveer Texfab and other investors were among the buyers.

• Tribhovandas Bhimji Zaveri: HRTI sold 22,066 shares at Rs 265.80 each, while QE Securities bought 13,037 shares at Rs 264.84 each.

• Jupiter Life Line Hospitals: HDFC Mutual Fund bought 9.37 lakh shares at Rs 1,483.50 each. Mitul Nitin Thakker and Arvind Rao Rao Kamini sold a combined 9.37 lakh shares at the same price. Bhavna Darshan Mehta bought 23,261 shares at Rs 164.96 each.

• TCI Express: Nippon India Mutual Fund bought five lakh shares from HDFC Mutual Fund at Rs 562 each.

The following companies will announce their earnings:

• 360 One WAM
• Alok Industries
• Bharat Heavy Electricals
• Borosil Renewables
• CEAT
• GNA Axles
• Hathway Cable & Datacom
• ITC Hotels
• Jio Financial Services
• Nelco
• PNB Gilts
• Polycab India
• Sterling and Wilson Renewable Energy
• D.B. Corp
• Wipro
• Piramal Finance
• South Indian Bank
• 5Paisa Capital
• Heritage Foods
• Newgen Software Technologies
• Tech Mahindra
• WeWork India Management

The following companies will hold their annual general meetings:

• HDFC Life
• Edelweiss
• Gokul Agro
• Ather Energy
• Ajanta Pharma
• India Shelter
• Sheela Foam

The following companies will hold board meetings to consider fundraising:

• Piramal Finance
• South Indian Bank
• Aurum PropTech
• PC Jeweller

• TVS Holdings: Subsidiary Home Credit India will acquire Varthana Finance for Rs 967 crore, subject to RBI approval.

• Shilpa Medicare: Sridevi Khambhampaty resigned as chief executive officer of subsidiary Shilpa Biologicals.

• Jain Resource Recycling: Tamil Nadu industrial authorities issued a safety order for Unit-II following a furnace fire.

• India Pesticides: The company’s fungicide received EU Technical Equivalence approval.

• Karnataka Bank: Biji Sreekrishnavilas Sankaranarayanan joined as executive director from July 15, 2026.

• IndiQube Spaces: The company added 3.9 lakh square feet of managed workspace in Sector 142, Noida.

• Adani Power: The company signed a 25-year agreement to supply 1,600 MW to MSEDCL from a new 2x800 MW plant.

• Amara Raja: The company commissioned a 60 MWh CQP facility in Telangana with an investment of Rs 500 crore. Commercial cell production will begin next year.

• SBFC Finance: Sanket Agrawal was appointed chief financial officer following Narayan Barasia’s resignation.

• MedPlus Health: A subsidiary received three orders suspending drug licences for a store in Karnataka.

• India Shelter Finance: The board will meet on July 20 to consider raising up to Rs 100 crore through non-convertible debentures.

• Spandana Sphoorty Financial: The company acquired the remaining stake in Criss Financial. It will revise the proposed merger scheme before seeking fresh approval.

• Archean Chemical Industries: Investee company Offgrid Energy Labs opened its first 10 MWh zinc bromide battery pilot manufacturing facility in the UK.

• Latent View: The company appointed Sonal Ramrakhiani as chief executive officer.

• NTPC Green: Subsidiary Ayana won a 50 MW wind project in an SECI tender at Rs 3.85 per kWh.

• Gallant Ispat: Chief financial officer Pradyumna Kumar Satpathy resigned.

• Brigade Enterprises: The board approved issuing 34.23 lakh warrants worth Rs 180 crore and non-convertible debentures of up to Rs 1,500 crore.

• Exide Industries: The company invested Rs 100 crore in wholly owned subsidiary Exide Energy Solutions.

• Tata Capital: The company raised $400 million through its second international bond issue. S&P assigned a BBB rating to the proposed notes under its $2 billion programme.

• Ather Energy: The preferential equity issue was priced at Rs 1,230 per share, while the warrant conversion price was fixed at Rs 1,260. The company launched a qualified institutional placement with a floor price of Rs 1,169.70 per share.

• Embassy Developments: Promoter group entity Embassy Property Developments released the pledge on another one crore shares. The company also allotted non-convertible debentures worth Rs 1,020 crore.

• Niva Bupa Health Insurance: The company received a GST refund of Rs 22.12 crore. ICRA assigned an AAA rating with a stable outlook.

• Himadri Specialty Chemical: The company approved a Rs 70 crore investment in a 200 MTPA carbon nanotube facility and plans to install a Super Specialty Carbon Black facility. Both projects are expected to start operations by the fourth quarter of FY28.

• HDFC Bank: The RBI approved Rajiv Kumar’s appointment as part-time chairman for three years.

• Nestle India: Tripura tax authorities issued a VAT reassessment order demanding Rs 6.67 crore.

• Windsor Machines: Mohan Ramachandran was appointed chief executive officer from July 16, 2026.

• PC Jeweller: The company repaid debt owed to another consortium bank, taking the number of lenders repaid to four out of 14.

• Lloyds Engineering Works: The company approved the acquisition of a controlling stake in Steel Infra Solutions through a preferential share swap and a Rs 4.99 crore preferential issue.

• State Bank of India: Sunil Ramgopal Agrawal joined as chief financial officer.

• Spice Lounge: The company opened its first Wing Zone outlet in Bengaluru and plans to expand across India.

• Knack Packaging: The board approved taking factory land and a building in Gandhinagar on sub-lease from Dayana Polyplast and leasing the associated machinery.

• GMR Airports: June passenger traffic across its airport portfolio fell 0.3% year-on-year to 97.6 lakh. First-quarter traffic reached 3.02 crore passengers, while Delhi Airport traffic rose 6.9% to 2.04 crore.

• Hero MotoCorp: Ather Energy approved the allotment of 76.19 lakh convertible warrants to Hero MotoCorp at Rs 1,260 each, aggregating Rs 960 crore. Hero MotoCorp’s stake will rise to 30.68% after full conversion.

Himadri Chemical (Q1, Consolidated YoY)

• Revenue up 28% to Rs 1,432 crore versus Rs 1,118 crore.
• Ebitda up 17.6% to Rs 287.9 crore versus Rs 244.9 crore.
• Margin at 20.1% versus 21.9%.
• Net profit up 26.3% to Rs 230 crore versus Rs 182 crore.
• Other income at Rs 56.3 crore versus Rs 26.7 crore.
• Approved capex of Rs 170 crore for manufacturing SSCB.
• Approved capex of Rs 128 crore for capacity addition.
• Approved capex of Rs 70 crore for Carbon Nano Tubes.

HDFC Life Insurance (Q1 FY27, Consolidated YoY)

• New business premium up 12% to Rs 8,143 crore versus Rs 7,272 crore.
• Annual premium equivalent up 9% to Rs 3,515 crore versus Rs 3,225 crore.
• VNB up 8.7% to Rs 879 crore versus Rs 809 crore.
• VNB margin down 10 bps at 25% versus 25.1%.
• 13-month persistency at 84% versus 86%.
• 61-month persistency at 65% versus 64%.
• Net premium income up 15.1% to Rs 16,728 crore.
• Net profit up 11.5% to Rs 611 crore versus Rs 548 crore.

Angel One (Q1, Consolidated QoQ)

• Revenue down 2.1% to Rs 1,430 crore versus Rs 1,459 crore.
• Ebitda down 19% to Rs 485 crore versus Rs 599 crore.
• Margin at 33.9% versus 41%.
• Net profit down 27.8% to Rs 231 crore versus Rs 320 crore.

HDB Financial (Q1, YoY)

• Revenue up 10.6% to Rs 4,938 crore versus Rs 4,465 crore.
• Net profit up 38.3% to Rs 785 crore versus Rs 568 crore.
• Disbursements for Q1 FY27 up 16.2% to Rs 17,629 crore.
• Gross Stage 3 at 2.34%.
• Reported highest-ever quarterly net profit of Rs 785 crore.

Jana Small Finance Bank (Q1, YoY)

• Net interest income up 33% to Rs 782 crore.
• Net profit up 52.3% to Rs 155 crore versus Rs 102 crore.
• Gross NPA at 2.24% versus 2.33% QoQ.
• Net NPA at 0.85% versus 0.87% QoQ.
• NIM at 7.5% versus 7.2% QoQ.

ICICI Lombard (Q1, YoY)

• Net premium earned up 16% to Rs 5,950 crore versus Rs 5,136 crore.
• Net profit down 46% to Rs 403 crore versus Rs 747 crore.
• Solvency ratio at 2.71 versus 2.67 QoQ.

MRPL (Q1, Consolidated QoQ)

• Revenue up 59.7% to Rs 38,254 crore versus Rs 23,950 crore.
• Ebitda down 26.1% to Rs 1,318 crore versus Rs 1,783 crore.
• Margin at 3.4% versus 7.4%.
• Net profit at Rs 946 crore versus Rs 117 crore.
• Reported a one-time gain of Rs 472 crore in Q1.

Emmvee Photovoltaic (Q1, Consolidated YoY)

• Revenue up 51.3% to Rs 1,556 crore versus Rs 1,028 crore.
• Ebitda up 56.4% to Rs 548 crore versus Rs 350 crore.
• Margin at 35.2% versus 34.1%.
• Net profit at Rs 380 crore versus Rs 188 crore.

The interim peace agreement signed by the US and Iran about a month ago has largely unravelled amid disputes over the Strait of Hormuz. The US intensified strikes after President Donald Trump called on Iran to stop targeting commercial vessels and keep the shipping route open.

Brent crude rose for a fourth straight session to trade above $85 a barrel after the US carried out fresh strikes on Iran. The escalation raised concerns over possible disruptions to crude shipments from the region.

South Korea’s Kospi fell 5.07%, while Japan’s Nikkei 225 declined 2.55% as semiconductor shares faced another round of selling. Australia’s ASX 200 rose 0.07%, moving against the regional trend.

GIFT Nifty traded at 24,105.50, compared with the Nifty 50’s Wednesday close of 24,074.85.