Nifty Consolidates Ahead of Major Earnings
The Indian stock market continued to be volatile, with the Nifty 50 and Sensex extending losses after news of Enforcement Directorate’s searches on Anil Ambani’s premises. The market sentiment turned sour, with investors becoming cautious ahead of major earnings announcements.
The Nifty 50 fell 0.6% to 16,345, while the Sensex dropped 0.5% to 54,445. Broader markets were also under pressure, with the Nifty Midcap 100 down 0.8% and the Nifty Smallcap 100 declining 1.2%.
Zydus Lifesciences Receives US FDA Approval for Ibrutinib Tablets
Zydus Lifesciences has received tentative approval from the US FDA for Ibrutinib tablets, used in the treatment of leukemia. This marks a significant milestone in expanding its oncology portfolio in regulated markets.
The company’s Q1 FY26 performance was impacted by various factors, including a 1.5% year-on-year (YoY) increase in revenue to Rs 438 crore, EBITDA down 63.4% to Rs 17.5 crore, and a net loss of Rs 35.8 crore.
Zensar Technologies Remains Cautiously Optimistic
Zensar Technologies, which reported a strong Q1 FY26 performance, remains cautiously optimistic about maintaining sequential growth in Q2 amid the challenging environment for IT companies.
The company’s MD and CEO, Manish Tandon, acknowledged the challenging market environment influenced by global uncertainties and trade tensions. “The current market environment is challenging, and we are taking necessary steps to mitigate the impact of global headwinds,” Tandon said.
Nestle India Shares Fall 2.14% After Q1 Results
Nestle India’s share price fell 2.14% to Rs 2,400 apiece after the company reported a 11.7% YoY decline in net profit to Rs 659.2 crore during the April-June quarter. High consumption prices impacted the quarter, leading to a decline in profitability.
Reliance Power and Reliance Infrastructure Shares Decline
Shares of Reliance Power and Reliance Infrastructure Ltd. declined after Enforcement Directorate conducted searches on premises of Anil Ambani’s properties in Delhi and Mumbai. Preliminary investigations revealed that there was a well-planned scheme in place to divert public money, as per sources. Enforcement Directorate found illegal loan diversion of Rs 3,000 crore from Yes Bank between 2017-2019.
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