Markets are expected to open with several stocks in focus on May 26 as major companies report their earnings, announce dividends, or are impacted by regulatory and strategic developments. Here’s a detailed roundup of stocks to watch and the key highlights that could impact trading today.

NTPC, JSW Steel, JK Cement report Q4 earnings

NTPC reported a 21.7% year-on-year (YoY) jump in consolidated net profit at Rs 7,897.1 crore for Q4 FY25, compared to Rs 6,490 crore in the same period last year. Revenue rose 4.6% to Rs 49,833.7 crore. The board recommended a final dividend of Rs 3.35 per share. However, overall numbers were below consensus estimates, and commissioning targets were missed.

JSW Steel posted a 13.5% rise in Q4 net profit to Rs 1,501 crore, even as revenue declined 3.1% to Rs 44,819 crore. The board declared a final dividend of Rs 2.80 per share. Standalone EBITDA per tonne was in-line, while losses in overseas operations declined.

JK Cement saw a 64% YoY surge in profit at Rs 360.4 crore and a 15.3% increase in revenue to Rs 3,581.2 crore. The board recommended a dividend of Rs 15 per share. EBITDA came in above analyst estimates, with grey cement net sales realisations up 3% quarter-on-quarter.

Other companies such as Ashoka Buildcon (EBITDA up 22.3%, margin at 28.9%), GNFC (EBITDA up 65.5%, margin at 11.7%), Finolex Industries, HBL Engineering, and Lux Industries reported mixed Q4 performances. Lux reported margin compression to 8.9% and revenue decline of 15.6% YoY.

Ganesha Ecosphere Q4 performance

Ganesha Ecosphere reported consolidated revenue of Rs 344.4 crore in Q4 FY25, up from Rs 305.5 crore YoY. EBITDA rose to Rs 51.1 crore, while PAT came in at Rs 23.8 crore. Production volume rose to 38,790 MT. However, EBITDA/ton dropped to Rs 13,200 from Rs 17,000. For FY25, the company achieved Rs 200 crore EBITDA and Rs 100 crore PAT. Capacity utilization in the standalone business was at 99%.

Key corporate developments

  • Paytm: SC has stayed the Rs 5,712 crore GST notice against First Games.

  • Eternal (Zomato): MSCI and FTSE reduced weightage due to cut in foreign ownership limit.

  • Zydus Lifesciences: Received final US FDA approval for Isotretinoin capsules.

  • NIBE: Won a Rs 150.6 crore export order from an Israeli defence tech company.

  • Havells: To invest Rs 340 crore to boost cable capacity at Alwar by September 2026.

  • Biocon: Received UK MHRA approval for YESINTEK, biosimilar Ustekinumab.

  • GE Vernova: Posted better-than-expected performance with margin expansion of 973 bps YoY.

  • Divi’s Labs: Signed supply pact with global pharma major, involving Rs 650–750 crore capex.

  • Narayana Health: Revenue grew 18% YoY; margin improved to 26.1%.

  • Jyoti CNC: Margin at multi-quarter high, EBITDA up 33% YoY.

  • AB Fashion: Margin expanded to 17.2% vs 6.2% YoY; revenue up 9%.

  • Anupam Rasayan: EBITDA up 55.7%; margin at 28.86%.

  • HCG: EBITDA up 15%, revenue grew 18.3%.

  • Allcargo: EBITDA rose 16.5%, revenue up 18%.

Q4 and Regulatory updates

  • Glenmark: Missed FY25 guidance, US business revenue declined.

  • Afcons Infra: Q4 muted; FY25 revenue missed guidance.

  • DRL: Received Form 482 from US FDA with two observations for CTO-5 unit.

  • Finolex: Revenue fell 5%, margin dropped to 14.62% from 16.9%.

  • HBL Engineering: EBITDA declined 40.7%, margin dropped to 16.94%.

  • Balkrishna Industries: EBITDA declined 9.9%, margin at 22.29%.

  • Kolte Patil: Q4 sales value fell 7%, realisations down 6% QoQ.

  • Indigo Paints: Gross margin dropped to 46.8%, revenue up 0.7%.

  • Updater Services: EBITDA down 12%, margin fell to 5%.

  • Dreamfolks: Margin at 6.31%, EBITDA down 19% YoY.

Bulk deals on May 24

First Sentier acquired shares in Cartrade Tech, Motilal Oswal PMS bought into Gravita India, and Nippon India Mutual Fund picked up 19.5 lakh shares of Ramco Cements. Bandhan Mutual Fund acquired a stake in Pondy Oxides & Chemicals.

Other stock updates

Stocks like Archean Chemical, Lloyds Metals, and Pearl Global are trading ex-dividend today. Maple Infrastructure Trust trades ex-date for income distribution. Chambal Fertilisers, Hindustan Copper, Dixon Technologies, Manappuram Finance, RBL Bank, and Titagarh Rail Systems remain in the F&O ban list.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

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