Indian markets are expected to open flat today after yesterday's decline. However, overall sentiment in the markets still looks positive. Indian markets have been following the global trends and we can expect strength in the US markets in the upcoming sessions. Stock specific action is expected in Indian equities today. While some companies enter the trading session buoyed by solid quarterly results and strategic wins—such as ITC’s exceptional demerger gain and Sun Pharma’s top-line growth—others face the scrutiny of losses, regulatory action, or macroeconomic pressure.

JSW Steel, Ashok Leyland, Devyani International, Azad Engineering: Q4 Previews in Spotlight

Markets will be closely tracking JSW Steel, Ashok Leyland, Devyani International, and Azad Engineering as these firms are set to unveil their March quarter (Q4FY25) earnings. The tone of their results will shape short-term sector trends:

JSW Steel: Investors will gauge the impact of global commodity volatility and domestic infrastructure demand on margin stability.

Ashok Leyland: Analysts expect a strong showing on the back of commercial vehicle uptrend.

Devyani International: Key watch points will be SSSG (same-store sales growth) and delivery volumes.

Azad Engineering: Market awaits insight on order wins in the aerospace and energy segments.

The earnings commentary from these companies will be critical in forecasting sectoral momentum for Q1FY26.

ITC Books Rs. 19,807 Cr Profit in Q4, Driven by Hotels Business Demerger

Diversified FMCG and conglomerate heavyweight ITC Ltd. announced a blockbuster Q4FY25 with a net profit of Rs. 19,807 crore, propelled by an exceptional gain of Rs. 15,145 crore. The gain stems from the long-anticipated demerger of ITC Hotels into a standalone entity, ITC Hotels Ltd.

The move is seen as unlocking value for shareholders by giving clearer visibility and operational independence to its hospitality vertical.

Core business metrics remain stable, although one-off gains inflated bottom-line performance.

Investors will now look for execution metrics from both ITC Ltd. and the newly spun-off entity to assess future valuations.

NTPC Green Energy Secures Strategic Win in NHPC’s E-Reverse Auction

NTPC Green Energy Ltd., the renewable energy subsidiary of NTPC, confirmed victory in NHPC’s e-reverse auction held on May 21. This adds to its expanding portfolio of green projects and reinforces its strategic positioning in India’s energy transition roadmap.

The size of the contract and tariff terms are yet to be disclosed.

The development adds to NTPC’s growing commitment to scale solar, wind, and storage infrastructure.

This win underscores NTPC Green's momentum and will likely provide near-term positive triggers for parent NTPC Ltd.

Sun Pharma Posts Rs. 12,958.8 Cr Revenue, Sees 8.1% YoY Growth

India’s largest pharma exporter, Sun Pharma, reported a solid 8.1% rise in revenue to Rs. 12,958.8 crore for Q4FY25, up from Rs. 11,982.9 crore in the year-ago quarter.

Growth was led by specialty portfolio performance in regulated markets and steady domestic formulation sales.

Investors will focus on management commentary regarding generic pricing pressure in the U.S. and biosimilar pipeline development.

Sun’s margin trajectory and specialty revenue mix will dictate forward earnings multiples.

Grasim Industries Reduces Q4 Loss to Rs. 288 Cr

Grasim Industries, part of the Aditya Birla Group, narrowed its net loss to Rs. 288 crore in Q4FY25, down from a loss of Rs. 441 crore in the same quarter last year.

Operational improvements in viscose and chemical segments helped partially offset weak demand.

Management has guided for increased capex in its paints and textile businesses for FY26.

While the narrowing loss offers some relief, consistent profitability and project delivery will be required to justify investor confidence.

Concor Reports Flat Earnings with Rs. 298.5 Cr Profit

Container Corporation of India (Concor) posted a marginal 1.6% decline in net profit to Rs. 298.5 crore for Q4FY25, compared to Rs. 303.3 crore a year earlier.

The tepid result reflects muted container volumes and high base impact.

Logistics cost pressures and limited export recovery continue to weigh on margins.

The company’s ability to scale value-added services and efficiency upgrades will be key to future performance.

HFCL Swings to Rs. 81.4 Cr Loss as OFC Demand Plummets

Once a beneficiary of telecom infrastructure demand, HFCL reported a Q4FY25 net loss of Rs. 81.4 crore, reversing from a Rs. 110 crore profit a year earlier.

The collapse in demand for optical fibre cables (OFC) amid sluggish capex cycles from telcos triggered the downturn.

Cost pressures and channel inventory buildup further impacted margins.

The stock may face further de-rating unless demand recovery or order wins emerge in FY26.

Ramco Cements Q4 Profit Drops 74.5% to Rs. 31 Cr

Ramco Cements, headquartered in Tamil Nadu, posted a steep 74.5% YoY fall in net profit to Rs. 31 crore for Q4FY25.

Operating pressures, higher freight costs, and softer realisation in southern markets were the key headwinds.

Though volumes showed sequential growth, weak pricing continues to erode profitability.

Price hikes and energy cost efficiency are essential to restoring margin health in the near term.

Ola Electric to Raise Rs. 1,700 Cr via Debt, Faces Maharashtra Crackdown

Ola Electric Mobility Ltd. has greenlit a Rs. 1,700 crore fundraise through non-convertible debentures (NCDs) and other debt instruments. This move aims to bolster liquidity as the EV major scales production and infrastructure.

Instruments may include term loans and working capital lines via private placements.

The timing and structure will be market-contingent.

However, Ola faces a regulatory storm in Maharashtra, where the Transport Department has ordered closure of 107 out of 131 showrooms due to non-compliance with trade certification norms.

104 show-cause notices and suspension orders have been issued, raising serious questions about operational governance.

This dual narrative of expansion through debt and regulatory setbacks could create volatility in investor sentiment.