MUMBAI — Indian markets opened the new trading week with stock-specific action expected to dominate, as easing global crude prices, a heavy batch of fourth-quarter earnings, fresh corporate deals, and regulatory developments give traders plenty to react to before the morning session settles.
WTI crude fell 4.29 percent to about $92.46 a barrel and Brent declined 3.90 percent to roughly $99.50 a barrel after President Donald Trump signalled progress in negotiations to end the US-Israel war on Iran. The pullback in energy prices is expected to lift sentiment toward oil-sensitive sectors, including oil marketing companies, aviation, and paints, while putting pressure on upstream producers.
Eicher Motors will be one of the most closely watched counters. The maker of Royal Enfield motorcycles reported its highest-ever quarterly sales of 313,811 motorcycles in the March quarter, up 12 percent year-on-year. Net profit climbed 11.6 percent to Rs 1,520 crore, revenue rose 16 percent to Rs 6,080.1 crore, and EBITDA jumped 20 percent to Rs 1,514 crore as margins expanded sharply to 24.9 percent. The board recommended a final dividend of Rs 82 per share.
NTPC, the state-run power major, posted a 34.4 percent jump in net profit to Rs 10,615 crore, compared with Rs 7,897.1 crore in the year-ago quarter. The strength was driven by higher generation, stable fuel costs, and improved plant load factors. NTPC’s renewable energy arm, NTPC Green Energy, was a more mixed picture, with net profit dropping 15.5 percent to Rs 197.05 crore even as revenue surged 46.7 percent to Rs 912.63 crore. EBITDA at the green arm rose 38.3 percent to Rs 774.5 crore, with margins of 84.9 percent.
Hindalco Industries delivered a quarter that captured the mixed picture in metals. Consolidated net profit surged 26.74 percent quarter-on-quarter to Rs 2,597 crore, but on a year-on-year basis it fell 50.83 percent from Rs 5,284 crore in the same quarter a year earlier. Revenue from operations rose 17.45 percent sequentially to Rs 78,133 crore, up roughly 20 percent year-on-year, as demand for aluminium and copper held up. The earnings reflect both the strength in volumes and the persistent cost pressure on margins.
Divi’s Laboratories will be in focus after the pharmaceuticals company reported steady growth, with revenue up about 10 percent, net profit up 13 percent, and margins broadly stable. The contract manufacturer has been benefiting from a steady pipeline of orders from global innovator pharma companies and a measured recovery in active pharmaceutical ingredient pricing.
Lupin entered the Chinese market for the first time after the country’s National Medical Products Administration approved its Abbreviated New Drug Application for oseltamivir phosphate, the antiviral used to treat influenza. The approval marks Lupin’s first product entry into China and opens up a new geography for an Indian generics firm that has historically leaned on the United States and Europe. The stock is likely to react positively at the open.
Aurobindo Pharma is on the watch list for less encouraging reasons. The US Food and Drug Administration placed one of the company’s subsidiary facilities under Official Action Indicated status, a designation that typically delays new product approvals from that site and can pressure US revenues over the next several quarters, with Indian pharma sector pressures and rupee strain per news reports. Investors will be looking for management commentary on the timeline to resolve the regulatory concerns.
Torrent Pharma posted a 27 percent decline in net profit to Rs 364 crore in the fourth quarter, impacted by exceptional item outgo, against Rs 498 crore in the year-ago period. Underlying operations remained resilient, with the company guiding for continued momentum in the chronic therapy segment, but the headline number will weigh on near-term sentiment.
Reliance Infrastructure reported a steep 79 percent decline in profit for the March quarter to Rs 918 crore, with revenue from operations slipping 2.59 percent to Rs 4,001 crore and total expenses rising 12.25 percent to Rs 5,419 crore. The mix of falling revenue and rising costs is expected to keep the stock under pressure.
Among smaller names, Minda Corporation reported 7.3 percent profit growth to Rs 124 crore on stronger operating performance. Other counters in focus include TCS, Lenskart, Suzlon Energy, Groww, RBL Bank, TVS Motor, Exide Industries, Glenmark Pharma, and Colgate Palmolive India. Cement and infrastructure names will also draw attention after a series of corporate announcements through the weekend.
Wipro will be watched ahead of its share buyback record date on Friday, June 5, after the board approved a buyback of up to 60 crore equity shares for an aggregate Rs 15,000 crore at Rs 250 a share. Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum will also be in focus given the recent run of retail fuel price hikes, even as crude prices ease, with the marketing margin dynamics improving sharply if Brent stays below $100.
The broader index direction will depend on how much of the relief in oil prices is sustained through the session. The Nifty 50 closed last week on a firmer footing, and Asian markets, led by Japan’s record-high Nikkei 225, have opened in the green. Foreign institutional investors trimmed short positions on Friday, suggesting some unwinding of the war-related risk hedges that have built up since late February, with Asia-wide market action and the Nikkei record covered as reported.
For Indian equities, the read-through is simple: a sustained move below $100 on Brent would lift the entire market, while any setback in the diplomatic track would quickly revive the spike-and-slip pattern that has dominated trading since late February. The day’s stock-specific stories will determine whether the broader index can build on Friday’s gains.
