News Overview

Cipla Q4 FY26 results were mixed, with a sharp decline in profit and margins offset by strong growth in India and Africa businesses. Despite weak North America performance, investor sentiment turned positive as adjusted earnings and dividends provided stability.

The Indian Rupee gained mildly after India increased gold and silver import duties from 6% to 15% to reduce dollar outflows and support forex reserves. Despite the temporary INR strength, elevated crude oil prices, persistent FII selling, and stronger US inflation continue to favor USD/INR upside toward the 96.00 level.

Hindustan Petroleum Corporation Limited (HPCL) reported a strong Q4 FY26 performance with a 46% jump in net profit to ₹4,902 crore. Improved refining margins, ₹3,300 crore LPG compensation, and robust domestic fuel demand boosted earnings. The company also announced a final dividend of ₹19.25 per share and posted record annual profits for FY26.

Adani Group received a major boost after NCLAT upheld its ₹14,535-crore resolution plan for Jaiprakash Associates and dismissed Vedanta’s appeal. The verdict cleared a key legal hurdle in the high-profile Jaypee insolvency case, triggering a nearly 3% rise in Adani Enterprises and Adani Ports shares as investors cheered the strategic acquisition.

Vodafone Idea shares surged nearly 8% to hit a fresh 52-week high after the company announced a board meeting on May 16 to consider fundraising proposals along with Q4FY26 earnings. Improved sentiment following AGR relief, leadership changes, and expectations around debt reduction and network expansion have put the telecom operator back in investor focus.

MTAR Technologies stock jumped nearly 10% after reporting strong FY26 earnings growth, improved operating cash flows, and lower debt levels. The multibagger stock has gained over 138% in six months as investors remain optimistic about opportunities in clean energy, aerospace, defence, and precision engineering manufacturing.

Jewellery stocks remained under pressure for the third straight session after the government increased gold and silver import duties from 6% to 15%. Shares of Sky Gold plunged over 11%, while Kalyan Jewellers and Thangamayil Jewellery also declined sharply amid fears of weaker consumer demand, rising costs, and pressure on profit margins.

India’s bullion market witnessed a historic rally after the government hiked import duty on gold and silver from 6% to 15%. MCX gold futures surged over 6% while silver prices jumped nearly 7%, triggering strong gains in gold ETFs and raising concerns over jewellery demand, inflation, and market volatility.

Indian IT stocks witnessed heavy selling pressure after OpenAI unveiled its new AI-focused Deployment Company, raising fears that enterprises may increasingly bypass traditional outsourcing firms. Infosys and TCS plunged to fresh 52-week lows amid concerns over slowing global tech spending, weak discretionary demand, delayed deal closures, and growing AI disruption risks.

V-Marc India shares surged after the company approved a 5:1 bonus issue and reported stellar FY26 results. Revenue nearly doubled to ₹1,797 crore, while net profit jumped 177% YoY. The company also unveiled aggressive expansion plans with ₹500 crore capex through FY30.