Following Donald Trump's announcement of a 25% tariff on Indian goods, along with an unspecified penalty for India's oil and arms purchases from Russia, Indian benchmark equity indices witnessed volatility. On Thursday, 1602 stocks advanced, 2416 declined and 135 remained unchanged on Bombay Stock Exchange with advance decline ratio of 0.66 indicating a negative closing. Moneylife’s Market Breadth Indicators remained neutral, reflecting a decline in the number of stocks trading above their 20-, 50-, and 200-day EMAs. The trend of the major indices on Thursday’s trading is given in the table below.
On NSE, 72 securities advanced and closed at a new 52-week high whereas 50 securities sank to close at their new 52-week lows. Nifty Pharma, Nifty Metal and Nifty Infrastructure were among the biggest losers. Nifty FMCG and Nifty Media were the biggest gainers.
Gujarat Gas (-1.78%) signed a GSA with Waaree Energy to supply 50,000 scmd of PNG to its upcoming lithium-ion cell plant in Valsad, Gujarat. The facility is slated for commissioning in Q4FY25-26 and will support domestic battery manufacturing for EVs and energy storage
Waaree Energies (-4.81%) commissioned a 1.80 GW solar module facility in Degam, Chikli (Navsari district, Gujarat), expanding its manufacturing capacity to meet rising global and domestic demand for high-efficiency modules. Over half of Waaree’s revenue comes from international markets, notably the U.S., reinforcing the strategic importance of this scale-up.
Cyient (-1.53%) and Zinier announced a strategic partnership to modernize field service operations across telecom, utilities, and energy sectors. The collaboration combines Cyient’s integration expertise with Zinier’s AI-powered, no-code FSM platform, enabling intelligent scheduling, predictive maintenance, and mobile-first execution. The alliance targets faster deployments and enhanced agility, with a focus on EMEA and APAC expansion.
Welspun Living (-5.08%) approved a $13 million investment to establish a pillow manufacturing unit in Nevada via its subsidiary, Welspun USA Inc. The facility, with a capacity of 10.8 million pillows annually, is expected to be operational by January 2026. At full scale, it could contribute $50 million in annual revenue, funded through 70% term loans and 30% internal accruals.
JK Cement (+0.70%) commenced commercial production and dispatch of LC-3 cement at its Mangrol unit in Chittorgarh, Rajasthan, becoming the first in India and the subcontinent to do so. Manufactured under IS 18189:2023 and BIS-certified, LC-3 comprises 50% clinker, 30% calcined clay, and 15% limestone, enabling up to 40% lower CO emissions versus OPC. The product is positioned for use in large infrastructure projects across key states including Maharashtra, Gujarat, and Madhya Pradesh.
Thermax (+2.69%) reported Q1 FY26 consolidated revenue of Rs2,150 crore, down 2% y-o-y from Rs2,184 crore, impacted by execution delays and pending customer clearances. PAT rose 39% y-o-y to Rs151 crore, while PBT increased 31% to Rs211 crore, driven by margin expansion and improved operational efficiency. The quarter also included Rs56 crore in income under the Maharashtra Packaged Incentive Scheme, compared to Rs27 crore in tax refund interest in Q1 FY25.
Vedanta (-2.06%) reported Q1FY26 consolidated revenue of Rs37,824 crore, up 5.8% y-o-y from Rs35,764 crore, driven by higher volumes and improved realizations in zinc, aluminium, and oil & gas. PAT declined 11.7% y-o-y to Rs3,185 crore, impacted by elevated depreciation and interest costs. EBITDA remained flat y-o-y at Rs9,918 crore, with margin contracting to 26.2% from 27.8% due to input cost inflation and mix shifts.
Maruti Suzuki (-0.08%) reported Q1FY26 consolidated revenue of Rs38,414 crore, up 8% y-o-y from Rs35,531 crore, supported by a 7% rise in average selling prices. PAT rose 1.7% y-o-y to Rs3,712 crore. However, EBITDA declined 11.2% y-o-y to Rs3,997 crore, with margin contracting to 10.4% from 12.7%, reflecting cost pressures and weaker operating leverage. Volumes grew 1% y-o-y but fell 13% sequentially, while other income nearly doubled to Rs1,823 crore.
Sun Pharma (-1.56%) reported Q1FY26 consolidated revenue of Rs13,851.4 crore, up 9.5% y-o-y from Rs12,652.8 crore, driven by growth across India formulations and Global Innovative Medicines. PAT declined 19.6% y-o-y to Rs2,278.6 crore, impacted by exceptional charges. EBITDA rose 19.2% y-o-y to Rs4,301.7 crore, with margin expanding to 31.1% from 28.5%. Adjusted net profit grew 5.7% y-o-y to Rs2,996.1 crore.
Mahindra & Mahindra (-0.06%) reported Q1FY26 consolidated revenue of Rs45,529 crore, up 22.3% y-o-y from Rs37,218 crore, led by strong growth in automotive and farm equipment segments. PAT rose 23.4% y-o-y to Rs4,376 crore, while EBITDA increased 24.3% y-o-y to Rs6,656 crore. PBT stood at Rs5,644 crore, up 22.2% y-o-y, reflecting broad-based operating momentum.
HEG (+7.27%) reported Q1FY26 consolidated revenue of Rs616.93 crore, up 7.9% y-o-y from Rs571.46 crore, supported by improved realizations and cost discipline. PAT surged 355% y-o-y to Rs104.83 crore, while PBT rose to Rs127.46 crore from Rs23.73 crore. EBITDA expanded sharply to Rs111.12 crore from Rs3.16 crore, with margin gains driven by inventory and fuel cost efficiencies
Jubilant Ingrevia (-3.44%) reported Q1FY26 consolidated revenue of Rs1,037.95 crore, up 1.3% y-o-y from Rs1,024.34 crore. PAT rose 54% y-o-y to Rs75.1 crore, while PBT increased to Rs99.77 crore from Rs66.03 crore, driven by cost efficiencies and stable input expenses. EBITDA improved on the back of lower raw material costs and steady power and fuel outlays
Hindustan Unilever reported Q1FY26 consolidated revenue of Rs15,931 crore, up 3.9% y-o-y from Rs15,331 crore, supported by modest volume growth and early signs of rural recovery. PAT rose 7.7% y-o-y to Rs2,732 crore. EBITDA declined 1.3% y-o-y to Rs3,558 crore, with margin contracting to 22.3% from 23.5%, impacted by moderating gross margins and stepped-up investments.
Dr. Lal PathLabs (+1.67%) reported Q1FY26 consolidated revenue of Rs669.8 crore, up 11.3% y-o-y from Rs601.9 crore, driven by higher sample volumes and expanded reach across metro and Tier-III/IV markets. PAT rose 24.3% y-o-y to Rs134 crore, while PBT increased to Rs181.1 crore from Rs149.9 crore. EBITDA grew 13% y-o-y to Rs192.5 crore, with margin improving to 28.73% from 28.34%.
TVS Motor (+0.29%) reported Q1FY26 consolidated revenue of Rs12,210 crore, up 18% y-o-y from Rs10,314 crore, driven by strong sales across motorcycles, scooters, and EVs. PAT rose 35% y-o-y to Rs779 crore, while EBITDA grew 32% y-o-y to Rs1,263 crore. EBITDA margin expanded to 12.5% from 11.5%, supported by volume growth and product mix improvements
Ambuja Cements (-4.07%) reported Q1FY26 consolidated revenue of Rs10,289 crore, up 23% y-o-y from Rs8,392 crore, supported by a 20% rise in cement volumes. PAT rose 24% y-o-y to Rs970 crore, while EBITDA surged 53% y-o-y to Rs1,961 crore. EBITDA margin expanded to 19.1% from 15.3%, with EBITDA/PMT improving to Rs1,069 from Rs835
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below:
