Indian Stock Market Today: GIFT Nifty Indicates Weak Opening as Q1 FY27 Earnings and Corporate Updates Stay in Focus

Indian equity markets are expected to open on a subdued note on Thursday after Wednesday’s sharp rally. At around 7:30 a.m., GIFT Nifty was trading at 24,230.50, down 72.5 points or 0.30%, indicating a weaker opening for the domestic market.

Market participants expect trading to begin under pressure following the previous session’s gains. According to market experts, the Nifty could move towards the key resistance zone of 24,500 to 24,600 in the near term. However, 24,100 is considered an important support level. If the index falls below this level, investor sentiment could weaken and the Nifty may decline to 23,950.

Several major companies are scheduled to announce their April-June quarter (Q1 FY27) financial results on Thursday. These include Tata Steel, Mahindra & Mahindra, Bajaj Finance, Hyundai Motor India, Swiggy, LIC Housing Finance, Mankind Pharma, RailTel, Thermax, Torrent Pharmaceuticals and Vedanta. The earnings are expected to influence the performance of the respective stocks as well as the broader market.

Eicher Motors reported a 21.3% year-on-year increase in net profit to ₹1,462.5 crore, while revenue rose 31.5% to ₹6,632.4 crore. Dabur India reported a 15.3% increase in profit to ₹586.2 crore, with revenue rising 10.6% to ₹3,764.4 crore.

State-owned mining company MOIL reported net profit growth of more than 70% to ₹87.6 crore, while revenue increased 6.6%. MTAR Technologies reported a nearly five-fold increase in profit to ₹50.2 crore, while revenue rose by more than 130%.

Bajaj Housing Finance reported a 22.6% increase in profit to ₹715.3 crore. The company also recorded double-digit growth in income. Waaree Energies reported revenue growth of nearly 79% to ₹7,931.8 crore, while profit stood at ₹850.2 crore.

ACME Solar Holdings reported an 80% increase in net profit to ₹235.3 crore and also recorded significant growth in income.

Results of Vedanta Group’s listed entities will remain in focus during the session. Vedanta Oil & Gas reported a profit of ₹945 crore after posting a loss in the corresponding period last year. The company’s revenue increased 8.5%. Vedanta Iron & Steel also returned to profit, reporting earnings of ₹121 crore compared with a loss in the year-ago period.

Vedanta Power reported a net loss of ₹423 crore compared with a profit in the corresponding period last year. However, the company’s revenue increased by more than 31%.

Punjab National Bank approved the launch of a Medium-Term Note (MTN) programme of up to US$1.5 billion through its IFSC banking unit at GIFT City. The programme will enable the bank to raise foreign currency funds through bond issuances.

State-owned construction company NBCC (India) signed an agreement with the Government of Seychelles for the construction of the US$75 million Ile Aurore Housing Project. The project includes the development of 1,008 affordable housing units along with associated infrastructure.