Indian equity benchmark indices, Sensex and Nifty, are expected to witness a negative start on Wednesday, May 20, amid muted global market cues as worries over inflation kept bond yields high, while the lack of a US-Iran peace deal hurt investor sentiment. According to reports from Business Standard, GIFT Nifty futures were trading 110 points lower at 23,449 levels at 7:42 AM. Asian markets were trading lower as investors weighed renewed geopolitical tensions after US President Donald Trump said he was 'an hour away' from deciding on a strike against Iran before postponing the move for a few days.
Bharat Petroleum Corporation (BPCL) reported a net profit of ₹3,191 crore in the March 2026 quarter (Q4FY26), down 1 per cent year-on-year from ₹3,214 crore in the corresponding quarter of the previous fiscal. As reported by Business Standard, the oil marketing company's revenue from operations during the quarter rose 6.3 per cent to ₹1,34,896 crore. The results reflect the challenging operating environment faced by oil marketing companies amid volatile crude oil prices. However, EBITDA and margins came in better than street estimates, indicating operational resilience despite the profit decline.
The private sector lender's net profit for the March 2026 quarter rose 61.7 per cent year-on-year to ₹408 crore from ₹252.4 crore in the year-ago period. According to Business Standard, net interest income (NII) increased 8 per cent Y-o-Y to ₹843 crore from ₹780.7 crore in the year-ago period. The strong performance demonstrates the bank's ability to maintain profitability while expanding its lending operations effectively. The board recommended a final dividend of ₹5 per share, reflecting confidence in the bank's financial position.
Hindalco Industries' arm, Novelis, reported a net loss of $84 million for Q4FY26, compared with a profit of $294 million in the year-ago period, impacted by fires at its Oswego plant in the US during September and November. As reported by Business Standard, rolled product shipments declined 12 per cent year-on-year. However, the Oswego hot mill is expected to restart earlier than anticipated, which may support future performance. Net sales increased 4.4 per cent to $4,787 million from $4,587 million a year earlier, indicating operational recovery from the plant disruptions.
Mankind Pharma reported a net profit of ₹554 crore in Q4FY26, up 31.7 per cent from ₹421 crore in the year-ago period, with revenue increasing 11.8 per cent to ₹3,443 crore. According to Business Standard, Godawari Power and Ispat reported a 26.6 per cent Y-o-Y increase in consolidated net profit at ₹280.1 crore compared with ₹221.3 crore in the corresponding quarter last year. Orkla India saw a 107 per cent year-on-year rise in net profit to ₹73 crore from ₹35.2 crore, while PTC India's net profit declined 69.3 per cent to ₹105 crore despite revenue surging 33.3 per cent to ₹3,897.5 crore.
