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IT index jumped for three consecutive trading sessions.
At 10:25 IST, the barometer index, the S&P BSE Sensex advanced 323.43 points or 0.43% to 75,648.93 The Nifty 50 index added 93.75 points or 0.44% to 23,753.15.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.90% and the BSE 250 SmallCap Index jumped 1.04%.
The market breadth was negative. On the BSE, 2,499 shares rose and 1,054 shares fell. A total of 215 shares were unchanged.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 96.3350 compared with its close of 96.2000 during the previous trading session. It also touched an all-time intraday low of 96.3850 in early trade.
In the commodities market, Brent crude for July 2026 settlement declined $2.12 or 1.89% to $109.98 a barrel.
Fuel Hike
Fuel prices were increased again on Tuesday, with petrol and diesel rates rising by up to 90 paise per liter across major cities, marking the second hike in less than a week. According to PTI, the latest revision follows a sharp Rs 3 per liter increase announced on Friday.
In Delhi, petrol prices rose by 87 paise to Rs 98.64 per litre from Rs 97.77, while diesel prices increased by 91 paise to Rs 91.58 per litre from Rs 90.67.
In Mumbai, petrol prices climbed 91 paise to Rs 107.59 per liter, while diesel rose 94 paise to Rs 94.08 per liter.
Kolkata recorded the sharpest increase in petrol prices, which surged 96 paise to Rs 109.70 per liter. Diesel prices in the city advanced 94 paise to Rs 96.07 per liter. In Chennai, petrol prices increased by 82 paise to Rs 104.49 per litre, while diesel prices moved up 86 paise to Rs 96.11 per litre.
Earnings Today:
Bharat Electronics, Zydus Lifesciences, Bharat Petroleum Corporation, Anthem Biosciences, Black Buck, Exicom Tele-Systems, Karnataka Bank, Mankind Pharma, CE Info Systems, Om Power Transmission, PI Industries, PNC Infratech, Trident, and Zee Entertainment Enterprises will announce their quarterly earnings today.
Buzzing Index:
The Nifty IT Index rallied 3.67% to 27,430.30. The index rose 0.26% in three consecutive trading sessions.
Coforge (up 4.5%), Infosys (up 4.04%), LTM (up 3.95%), Tech Mahindra (up 3.68%), Persistent Systems (up 3.54%), Oracle Financial Services Software (up 3.26%), Mphasis (up 3.16%), HCL Technologies (up 3.16%), Tata Consultancy Services (up 2.94%) and Wipro (up 1.97%) surged.
Stocks in Spotlight:
DOMS Industries shed 0.43%. The company reported a 17.1% increase in consolidated net profit to Rs 56.7 crore in Q4 FY26 as against Rs 48.4 crore posted in Q4 FY25.
Vascon Engineers rose 4.98% after the company said that it has received a Letter of Intent worth Rs 131.58 crore from Reliance Industries for construction works at its Jamnagar expansion project.
Vascon Engineers has received Letter of Intent amounting to Rs.131.58 crorefrom Reliance Industries for “construction of 04 Nos G+12 FLL Type Buildings for Sector-3 at RG Expansion Jamnagar”. The work has been awarded on Bill of quantities (BOQ) Basis.
The work has to be completed within 19 months from the date of receipt of order.
EBITDA (earnings before interest, tax, depreciation, and amortization), also known as cash operating profit, stood at Rs 279.07 crore during the quarter, registering the growth of 21.81% compared with Rs 229.11 crore posted in the same period last year.
Total expenses rose 15.83% year on year to Rs 1,848.70 crore in the quarter ended 31 March 2026. The cost of material consumed stood at Rs 1,168.94 (up 9.26% YoY), and employee benefits expense was at Rs 170.65 crore (up 14.29%) during the period under review.
Revenue from the paper and packaging segment rose 13.71% to Rs 1,885.56 crore in Q4 FY26 as against Rs 1,658.16 crore in Q4 FY25. Revenue from other segments surged 300.15% to Rs 81.99 crore in Q4 FY26 from Rs 20.49 crore in Q4 FY25.
On a full-year basis, the company's consolidated net profit declined 35% to Rs 265.84 crore on a 6.2% rise in net sales to Rs 7,076.03 crore in FY26 over FY25.
JK Paper also said the implementation of the government’s four new labour codes from November 21, 2025 resulted in an assessed incremental impact of Rs 16.3 crore towards retiral obligations during FY26. The amount has been disclosed as an exceptional item.
Commenting on the results, Shri Harsh Pati Singhania said, “Higher volume with improved operational efficiencies have contributed to better performance during the current quarter compared to the corresponding period as well as sequentially. High wood cost and low priced imports have severely eroded industry margins. Despite this, the Company achieved its highest ever Paper and Board sale of 8.19 Lac MT during F.Y. 2025-26 and maintained its leadership position across its product categories. The performance of the Company’s packaging conversion business also improved during the year. Sharp rupee depreciation against the Euro resulted in restatement losses, adversely impacting net profit.
He further added, “The composite scheme of arrangement, as approved by the board of directors of the company, has been sanctioned by the Hon’ble National Company Law Tribunal, Ahmedabad Bench (“NCLT”) vide its Order dated 3rd February 2026 (“Order”) and has become effective from 15th March 2026.Consequent to the Scheme, The Sirpur Paper Mills Ltd, a Step-down Subsidiary of the Company, has become a Wholly Owned Subsidiary of JK Paper Ltd. and three of the packaging conversion companies have been amalgamated.
The commissioning of the Hardwood Bleach Chemical Thermo-Mechanical Pulp (“BCTMP”) Plant of Unit CPM, Gujarat, is currently at an advanced stage with commercial production expected from the 1st quarter of FY 2026–27. This backward integration will enable consistent supply of high-quality BCTMP pulp eliminating the need for import of costly imported Hardwood BCTMP pulp.”
The board has recommended a final dividend of Rs 4 per equity share of face value Rs 10 each for the financial year ended March 31, 2026. The dividend, if approved by shareholders at the upcoming annual general meeting, will be paid within 30 days of the AGM, subject to applicable tax deductions, stated the filing.
JK Paper is the leading player in office papers, coated papers, and packaging boards. It is one of the most respected paper companies today.
The company clarified that neither its promoters nor promoter group entities have any interest in the awarding entity, and the transaction does not fall under related-party transactions.
Vascon Engineers is a Pune-based player engaged in engineering, procurement, and construction (EPC), real estate construction, and development. The company reported an 87.72% decline in standalone net profit to Rs 9.35 crore in Q3 FY26 compared with Rs 76.14 crore in Q3 FY25. Net sales tumbled 15.29% YoY to Rs 249.27 crore in Q3 FY26.
Reliance Industries is India's largest private sector company. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services. The company’s consolidated profit after tax including the share of profit/(loss) of associates and JVs, fell 8.9% YoY to Rs 20,589 crore in Q4 FY26. Profit before tax stood at Rs 27,195 crore, down 6.6% YoY. Gross revenue rose 12.9% YoY to Rs 325,290 crore. The counter shed 0.10% to Rs 1,333.90 on the BSE.
For the full year,net profit declined 62.46% to Rs 48.90 crore in the year ended March 2026 as against Rs 130.25 crore during the previous year ended March 2025. Sales declined 11.93% to Rs 949.29 crore in the year ended March 2026 as against Rs 1077.90 crore during the previous year ended March 2025.