The Indian equity market remained under pressure by midday on Tuesday with the Nifty hovering around 24,440 and the BSE Sensex near 78,117. According to reports from The Financial Express, banking stocks were among the key losers, while strong quarterly results lifted select pharma, technology and internet-linked stocks. The broader banking index fell around 1%, with concerns over rising crude oil prices and renewed uncertainty around West Asia adding pressure to financial stocks.
Info Edge share price gained 4% by midday after the Naukri parent reported impressive Q1 FY27 results. As reported by The Economic Times, the company posted a 43% year-on-year rise in consolidated net profit to ₹490 crore for Q1 FY27, aided by an exceptional gain from transferring Info Edge's holding in Shopkirana to Udaan parent Trustroot, partly offset by an impairment charge. Revenue from operations increased 13% to ₹612 crore, while standalone billings rose 14.4% to ₹737 crore, led by 17.5% growth in Recruitment and 16.5% growth in 99acres. Operating profit grew 25% to ₹356 crore, taking the margin to 58.3%.
AU Small Finance Bank declined 1.84% by midday as banking stocks came under selling pressure amid weakness across the Nifty Bank index. According to The Financial Express, the broader banking index fell around 1%, with concerns over rising crude oil prices and renewed uncertainty around West Asia adding pressure to financial stocks. Federal Bank fell 1.71% and IndusInd Bank also declined 1.71%, while Axis Bank dropped 1.53% and Bank of Baroda fell 1.69%.
Gland Pharma share price surged 7.30% to ₹2,862 on NSE following the release of strong Q1 FY27 results. As reported by latest exchange filings, the company posted consolidated net profit rising 47.1% year-on-year to ₹316.96 crore and total income increasing 19.1% to ₹1,861.50 crore for the quarter ended June 30, 2026. The CDMO business contributed ₹891.5 million and grew 20%, while the B2B supply vertical generated ₹908.8 million with stable 19% year-on-year growth. The United States remained the largest market with ₹981.0 million revenue (32% growth), Europe contributed ₹395.4 million (20% growth), and the domestic market grew 12% to ₹66.6 million.
International brokerages maintained positive sentiment on Info Edge, with Nomura, Nuvama and Motilal Oswal retaining their respective ratings and some raising target prices. As reported by The Economic Times, Nomura and Nuvama maintained Buy calls while raising target prices, citing the company's long growth runway and pricing power. Management indicated both Naukri and 99acres are reporting a pickup in billings growth, with revenue expected to follow a similar trajectory with a lag. However, analysts noted that with recruitment growth still moderate and newer offerings yet to establish sustained monetisation, there is limited scope for a meaningful earnings upgrade. Meanwhile, Jefferies upgraded Gland Pharma to Buy from Hold and raised its target price to ₹3,350 from ₹2,080, citing that the company's key challenges are "largely behind" it. Goldman Sachs maintained its Sell rating but raised its target price to ₹2,125 from ₹1,875, noting healthy margin performance and progress in the Cenexi turnaround, though remaining cautious about valuation concerns.
