Tata Motors PV emerged as the standout performer, surging more than 8% by midday on May 15 following exceptional quarterly results. According to reports from The Financial Express, the automaker reported a consolidated profit after tax of ₹5,783 crore during Q4FY26, marking a sharp turnaround in profitability. The stock was trading 4% higher at ₹352.95 around 10:09 am and emerged as the top gainer on both the Nifty 50 and Nifty Auto indices, with the benchmark Nifty 50 index up 0.4% and Nifty Auto gaining 0.2%. Jaguar Land Rover remained the key contributor, with revenue rising 59% sequentially to ₹85,625 crore during the March quarter compared to ₹53,849 crore in the preceding quarter. JLR also reported a net profit of ₹7,387 crore against a net loss of ₹3,344 crore in the previous quarter.
IT stocks extended their gains with Tech Mahindra and Infosys among the top performers on the Nifty index. As reported by The Financial Express, Nifty IT rose 1.87% during the session, reflecting strong investor sentiment in the technology sector. The positive momentum in IT stocks contributed to the overall market resilience despite mixed performance across other sectors.
Adani Enterprises traded over 2% higher following reports that US authorities may move toward resolving fraud-related charges involving Gautam Adani and others. According to a Bloomberg report cited by The Financial Express, the US Justice Department may announce withdrawal of charges as early as this week, with the Securities and Exchange Commission moving toward settlement of the parallel civil fraud case filed during November 2024. The development supported sentiment across several Adani Group stocks, with Adani Green Energy also trading higher, while Adani Energy Solutions witnessed modest gains.
Despite the quarterly profit decline, investors responded positively to Tata Motors' future demand outlook and expansion plans. JLR announced a target of achieving $2.3 billion in cost savings over the next two years as it navigates supply chain disruptions, global trade uncertainty, and higher commodity costs. The luxury vehicle maker said it would continue its planned investment programme of 18 billion pounds over the five-year period beginning fiscal 2024. Managing Director and CEO Shailesh Chandra expects India's passenger vehicle industry to grow around 10% in the current financial year, while Tata Motors aims to outperform overall market growth. The company plans to launch the Sierra Electric Vehicle in June, along with two new nameplates and four facelifts during the year.
JM Financial upgraded the stock rating to "buy" from "reduce" and increased its target price by 27% to ₹415. The brokerage cited improving demand conditions for JLR in the European Union, the United Kingdom, and North America, along with healthy domestic demand trends and a strong product pipeline. PB Balaji, CEO of JLR, stated during the post-results interaction that commodity inflation remains elevated as crude oil prices continue to stay above $100 per barrel. The company had already increased vehicle prices effective April 1 and indicated that further price revisions could be considered if commodity and freight costs continue to rise.
