Indian equity markets extended their decline on Wednesday, with the Nifty 50 settling at 24,435, down 35 points, or 0.15%, amid heightened geopolitical tensions in the Middle East, a renewed spike in oil prices and selling pressure in Tata Group stocks.
The benchmark index remained under pressure through the first half of the session, forming a lower-high and lower-low pattern before finding support above the 24,250 zone. A modest recovery towards the close helped the index pare some losses, but the rebound was not strong enough to alter the near-term cautious setup.
From a technical perspective, the 24,500 level remains a key hurdle. Analysts point to significant Call open interest at the strike in the options chain, with the level having shifted from a previous support zone to resistance. A sustained move above 24,500 will be crucial for a meaningful recovery.
Against this backdrop, shares of UltraTech Cement, Tata Motors Passenger Vehicles, Godrej Industries, Grasim Industries, Lenskart Solutions, Astral, Axis Bank and several other companies will be in focus in Thursday's trade following corporate developments and first-quarter earnings.
UltraTech Cement
Pilani Investment and Industries Corporation is set to sell around 1.7 million equity shares of UltraTech Cement through a block deal on the screen-based trading platforms of Indian stock exchanges. The transaction is expected to take place on Thursday, August 13.
Apollo Hospitals
Apollo Hospitals Enterprise reported a 38.4% year-on-year (YoY) jump in consolidated net profit to Rs 610 crore for the quarter ended June 30, 2026 (Q1FY27), compared with Rs 441 crore reported in the corresponding quarter of the previous financial year.
Lenskart Solutions
Eyecare services provider Lenskart Solutions reported a 182.3% year-on-year jump in profit after tax to Rs 228 crore in Q1FY27, compared with Rs 61 crore in the corresponding quarter of the previous fiscal year.
Astral
Building materials and equipment maker Astral reported a 51.8% year-on-year increase in consolidated net profit to Rs 120 crore in the first quarter of FY27, compared with Rs 79 crore in the year-ago period.
Grasim Industries
Grasim Industries reported a standalone net profit of Rs 247 crore for the first quarter of FY27, compared with a net loss of Rs 118 crore in the year-ago period. The company had reported a standalone net profit of Rs 164 crore in the fourth quarter of FY26.
Axis Bank
Axis Bank raised $300 million, or around Rs 2,850 crore, through the issuance of bonds to overseas investors to fund business growth.
The bank also received final listing approvals from the Global Securities Market of India International Exchange (IFSC) and the Debt Securities Market of NSE IFSC for listing its $300 million 5.348% senior notes.
The notes will be consolidated and form a single series with the $300 million 5.348% senior notes issued under the bank's $5 billion Global Medium Term Note Programme on June 30, 2026.
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Abbott India
Abbott India reported a 17.12% year-on-year rise in net profit to Rs 429 crore in the first quarter, compared with Rs 366 crore a year earlier. Revenue increased 4.3% to Rs 1,813.6 crore from Rs 1,738.4 crore.
EBITDA rose 17.3% to Rs 522.4 crore, while the EBITDA margin expanded to 28.81% from 25.63% in the year-ago period.
Gujarat Pipavav Port
Gujarat Pipavav Port reported a 41.8% year-on-year increase in net profit to Rs 147.9 crore in Q1FY27, compared with Rs 104.3 crore a year earlier.
Revenue rose 32.6% to Rs 331.7 crore from Rs 250.1 crore, while EBITDA increased 45.3% to Rs 214 crore. The EBITDA margin stood at 64.49%, compared with 58.86% in the year-ago period.
IRCON International
IRCON International reported a 43.62% year-on-year decline in net profit to Rs 92.74 crore in the first quarter, compared with Rs 164.5 crore a year earlier.
Revenue, however, increased 9.5% to Rs 1,955.8 crore from Rs 1,786.3 crore. EBITDA rose 2.6% to Rs 205.17 crore from Rs 200 crore, while the EBITDA margin declined to 10.49% from 11.19%.
TD Power Systems
TD Power Systems has fixed the record date for the sub-division of its equity shares following shareholder approval at the company's 27th annual general meeting held on August 12, 2026.
Under the approved scheme, each equity share with a face value of Rs 2 will be split into two equity shares of Re 1 each.
Waterways Leisure Tourism
Waterways Leisure Tourism has fixed August 26, 2026, as the record date for determining shareholder eligibility for the stock split.
The company will split each fully paid-up equity share with a face value of Rs 10 into 10 equity shares of Re 1 each, following approval of the proposal through an ordinary resolution passed by postal ballot on August 12.
Q1FY27 Results Today
Several companies are scheduled to announce their first-quarter results on Thursday, including Tata Motors Passenger Vehicles, LG Electronics India, General Insurance Corporation of India, Max Financial Services, Ipca Laboratories, Page Industries and Godrej Industries.
