Indian markets witnessed a volatile session on Monday, with benchmark indices ending almost unchanged amid weak global cues and persistent macroeconomic concerns. According to reports from The Economic Times, analysts suggest the Nifty is consolidating with resistance at 23,800-24,000 and support near 23,150-23,300 region. The upside capping appears to be forming another consolidation range following the earlier breakdown, with signals from key sectors such as banking and IT remaining mixed while continuing to recommend a stock-specific approach.
JSW Energy has monetised part of its holding in JSW Steel through a bulk deal worth ₹3,150 crore as the company looks to release capital for its aggressive power generation expansion plans. As reported by The Economic Times, JSW Energy sold 25 crore equity shares of JSW Steel on the NSE on May 18 as part of a strategic liquidity release. Meanwhile, Indian Oil Corporation (IOC) reported a consolidated net profit at ₹14,458 crore in the March-ended quarter versus ₹8,124 crore in the year ago period, implying a 78% surge. The revenue from operations posted a 7% growth to ₹2,36,899 crore in Q4FY26, compared to ₹2.21 lakh crore in the corresponding quarter of the previous financial year.
Eicher Motors announced plans to set up a manufacturing facility in Andhra Pradesh at an investment of ₹2,500 crore as part of its strategic expansion. According to reports from The Economic Times, the Eicher Motors group company has already acquired a land parcel in the Tada industrial hub in the Tirupati district of Andhra Pradesh. Royal Enfield will be the primary beneficiary of this new manufacturing facility.
Adani Group reached a settlement with the US Treasury Department's Office of Foreign Assets Control (OFAC) in an alleged sanctions violation related matter after it extended "extensive cooperation" with the investigation and "proactively disclosed" findings. As reported by The Economic Times, the matter related to apparent violations involving imports of Iranian LPG through Mundra Port in Gujarat. Meanwhile, Vodafone Idea has pinned hope on its target to triple cashflow, as well as on new loans, tax refunds and fresh capital infusion from promoters to generate over ₹1 lakh crore cash required in the next three years, according to a senior company official.
