Indian equity markets are indicating a positive start to Tuesday's session following Monday's modest decline. At around 7:45 a.m., Gift Nifty was trading 137 points, or 0.57%, higher at 24,228.50, signalling a positive opening for the domestic market.
Market experts said that if the Nifty sustains above the recent high of 24,041, fresh buying interest could emerge, potentially taking the index towards the 24,170–24,250 range. If the index fails to move beyond that level, the market may continue to trade in a consolidation phase.
Several large-cap and mid-cap companies are scheduled to announce their Q1 FY27 results on Tuesday. These include Asian Paints, Eicher Motors, Adani Enterprises, Adani Ports and Special Economic Zone, Dabur India, Colgate-Palmolive (India), Bajaj Housing Finance, KPIT Technologies, Piramal Pharma, Syngene International, Prestige Estates, Waaree Energies, Karnataka Bank, Jammu & Kashmir Bank and Hexaware Technologies. The results are expected to influence the performance of their respective stocks and sectors.
Larsen & Toubro reported a 14% year-on-year increase in net profit to ₹4,123 crore, while revenue rose 7% to ₹67,942 crore.
Tata Capital posted a 56% increase in net profit to ₹1,547 crore in the first quarter. Total income increased 23% to ₹4,455 crore, while assets under management (AUM) grew 22% to ₹2.90 lakh crore.
Phoenix Mills reported a 23.3% rise in net profit to ₹296.9 crore, while revenue increased 12.8% to ₹1,074.9 crore.
Paradeep Phosphates posted a 23.9% increase in profit to ₹392.5 crore, with revenue rising 36% to ₹6,124.3 crore.
Birlasoft reported a 51.3% increase in net profit to ₹161 crore, while revenue rose 7.4% to ₹1,379.4 crore.
DCM Shriram reported net profit of ₹692.8 crore, more than six times higher than the corresponding period last year. Revenue increased 9.5% to ₹3,784.7 crore.
VST Industries reported a 24.4% decline in net profit to ₹42.4 crore, while revenue fell nearly 14% to ₹256.5 crore.
RPG Life Sciences and Sanofi Consumer Healthcare India reported profit growth of 17% and 13.3%, respectively.
In corporate developments, the US Department of Commerce has preliminarily decided to impose a 3.68% countervailing duty (CVD) on exports of large-diameter graphite electrodes by Graphite India.
Rail Vikas Nigam Limited (RVNL) secured a ₹358.97 crore EPC project from East Central Railway for the doubling of the Sitamarhi–Raxaul rail section in Bihar.
Life Insurance Corporation of India (LIC) appointed Shatmanyu Srivastava as its Chief Financial Officer (CFO).
Euro Panel Products commenced operations at its new 2.2 MW grid-connected solar facility in Surat, increasing the company's total solar capacity to 3.6 MW
