The Indian stock market is expected to continue its losing streak as Gift Nifty index trends signalled a negative opening on Tuesday, trading near the 23,738 mark, down over 48.50 points from the previous close. According to Hariprasad K, SEBI-registered Research Analyst and Founder of Livelong Wealth, markets are likely to witness a cautious start after Monday's sharp selloff, with the domestic market entering the session under pressure after benchmark indices corrected nearly 1.5-1.7% in the previous session. The Nifty closed 1.51% lower at 23,811, while the Sensex declined 1.73% to settle at 76,072, marking their steepest single-day fall since April 24.
Tata Power, Dr Reddy's, Dixon Technologies, and Nazara Technologies are among the stocks that will remain in focus as these companies are scheduled to release their Q4 results on May 11th. As reported by Vaamanaa Sethi from Live Mint, these companies are expected to be in focus due to their own positive or negative triggers amid the broader market weakness. The market decline was attributed to rising crude oil prices after optimism around an imminent peace agreement in West Asia diminished, with heavy selling in realty and consumer durable stocks after Prime Minister Narendra Modi called for specific measures. Additional companies reporting on May 11 include Canara Bank, JSW Energy, Indian Hotels Company, Abbott India, UPL, PVR Inox, and dozens of other listed firms across banking, power, hospitality, pharmaceuticals, insurance, metals, and other sectors.
Indian Hotels delivered robust performance in the fourth quarter, with consolidated net profit increasing 14.9% year-on-year to ₹600 crore, up from ₹522.3 crore in the same quarter of the previous year. According to Live Mint, JBM Auto posted stable performance with consolidated net profit increasing 11.9% year-on-year to ₹74.2 crore, up from ₹66.3 crore in the corresponding period last year. JSW Energy posted record EBITDA in the March quarter, supported by capacity expansion, robust operational performance, and contributions from recent acquisitions, although its net profit fell compared to the year-ago period.
Bank of Baroda is targeting a 10% growth in its ₹4.56 lakh crore corporate loan portfolio in FY27 and has identified a current pipeline of large-ticket loans worth ₹50,000 crore. As reported by Live Mint, Adani Ports and Special Economic Zone saw Pranav Choudhary step down as CEO – Ports to explore opportunities outside the Adani Group, with his resignation taking effect from May 31 and Niraj Bansal named as the new CEO – Ports effective June 1. Ather Energy announced that sales of its Rizta electric scooter have surpassed 3 lakh units within two years of its launch, making it the firm's highest-selling model.
HFCL received export orders valued at nearly $19.32 million for supplying optical fiber cables to leading global clients. According to Live Mint, Bharat Forge signed a long-term agreement with Embraer to manufacture and supply critical landing gear forgings, marking its entry as the first Indian supplier in Embraer's global aerospace supply chain for forged components. Satin Creditcare Network posted a strong increase in its fourth-quarter profit, driven by consistent loan growth and resilient asset quality amid a difficult operating environment.
