Eicher Motors Ltd emerged as the top performer with a 5.05% gain to close at ₹7,334.00, recording a volume of 3.78 lakh shares. Shriram Finance Ltd followed closely with a 2.75% increase to ₹966.85 on a volume of 6.73 lakh shares. Mahindra & Mahindra Ltd gained 2.69% to ₹3,164.20 with 2.95 lakh shares traded, while Bajaj Finance Ltd rose 2.25% to ₹937.20 on a volume of 13.91 lakh shares. HDFC Bank Ltd advanced 2.22% to ₹783.85 with 33.13 lakh shares changing hands, and Bajaj Auto Ltd gained 2.07% to ₹10,767.50 on a volume of 0.57 lakh shares. Tata Motors Passenger Vehicles Ltd also made notable gains with a 2.01% increase to ₹3,706.50 on a volume of 12.57 lakh shares.
According to reports from ET Now, the Nifty 50 index opened at 23,940.25 and gained 259 points (1.09%) to trade at 23,978.30. The Sensex opened flat at 75,260.39 and remained relatively unchanged throughout the session, currently trading at 75,415.35 with a flat performance. The Nifty Bank index opened at 54,610.55 and surged 873.10 points (1.62%) to trade at 54,928.45. During intraday trading, the Sensex moved between a high of 75,810.97 and a low of 75,230.75, while the Nifty 50 ranged between 23,987.30 and 23,922.85.
Hindalco Industries Ltd experienced significant volatility with shares tanking 7% intraday following mixed Q4 results. The aluminium and copper company reported a 51% year-on-year slump in fourth quarter net profit to ₹2,597 crore due to a one-time exceptional cost. However, when adjusted for this exceptional item, Hindalco's profit came at ₹3,577 crore, above estimates. The company has declared a dividend of ₹5 per share, providing relief to long-term investors. Analysts recommend investors focus on the performance of its U.S.-based Novelis subsidiary amid a subdued aluminium price environment. Markets will closely watch how commodity cycles turn around and progress on US-Iran tensions that impact metals prices.
Wipro announced that June 5 will be the record date for its ₹15,000 crore buyback programme, with analysts estimating the buyback will yield a capital return of about 6.5% to shareholders if implemented fully. MTAR Technologies surged to an all-time high after announcing a fresh order worth ₹467 crore, with the stock rallying about 22% in three sessions as it aggressively bids for orders across defence, space and clean energy sectors. Maruti Suzuki plans to launch India's first flex-fuel vehicle capable of running on ethanol or E100 fuel on June 5, coinciding with World Environment Day celebrations.
Petrol prices breached the ₹100-per-litre mark in Delhi after the government announced the fourth fuel price revision in 11 days, with the latest hike driven by persistently elevated crude oil costs. Petrol prices were raised by ₹2.61 per litre, taking the retail price in Delhi to ₹102.12, while diesel was hiked by ₹2.71 per litre, now costing ₹95.20 per litre in the national capital. The successive revisions reflect pressure on state-owned oil marketing companies as Brent crude continues to trade near elevated levels at $98.83 per barrel. Oil marketing companies including Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation remain in focus as rising retail prices typically improve marketing margins for these state-run refiners.
