Indian equity markets witnessed broad-based selling pressure on Tuesday, with the Nifty approaching a crucial support zone near its 200 DEMA around the 25,150 level. Analysts suggest that while a brief pause or rebound cannot be ruled out, any recovery will largely depend on the performance of banking and IT sectors. Against this backdrop, several companies have emerged in focus due to quarterly results and major corporate announcements.

Strong Q3 Earnings Performance

Multiple companies reported impressive third-quarter results, showcasing resilient business performance despite market challenges.

AU Small Finance Bank delivered robust financial performance for the December quarter:

United Spirits also reported strong earnings growth, with consolidated net profit rising 25% to ₹418 crores compared to ₹335 crores in the corresponding quarter last year.

IndiaMart InterMesh demonstrated exceptional performance with a 56% jump in consolidated net profit to ₹188 crores versus ₹121 crores in the year-ago period. The company's consolidated revenue from operations grew 13% to ₹402 crores compared to ₹354 crores in the corresponding quarter.

Major Corporate Developments

Restaurant Brands Asia announced a significant corporate restructuring with Inspira Global acquiring a controlling stake in the Burger King India and Indonesia operator:

Inspira will purchase the entire 11.26% shareholding in Restaurant Brands Asia from QSR Asia, Everstone's investment vehicle.

KP Green Engineering secured substantial new business with orders worth ₹248.2 crores across multiple verticals. The orders span renewable, transmission, industrial, and infrastructure sectors, reflecting the company's expanding market presence and diversified product portfolio.

Regulatory and Market Developments

The Competition Commission of India (CCI) approved Emirates NBD Bank's proposal to acquire a majority stake in RBL Bank. The Dubai-headquartered banking group, which operates across several countries including India, will gain control of the private sector lender that provides banking, financial, and insurance services.

In block deal activity, French multinational bank BNP Paribas acquired over 35.43 lakh shares in Tata Motors Commercial Vehicle through a transaction valued at ₹152 crores, with Goldman Sachs serving as the seller.

Mixed Retail Performance

Contrary to the positive earnings trend, Shoppers Stop faced significant challenges in the December quarter. The department store chain reported a 69% decline in quarterly profit to ₹16.1 crores compared to ₹52.2 crores in the previous year, attributed to reduced discretionary spending by urban consumers amid slowing wage growth in major cities.

Market Outlook

Several companies including Eternal, DRL, HPCL, and Tata Communications are scheduled to announce their third-quarter results, which will provide further insights into corporate performance trends. The market's response to these developments will likely depend on the broader sectoral performance, particularly in banking and IT segments that have shown relative resilience.

Indian stock markets are witnessing significant activity today as multiple companies announce major corporate developments, quarterly earnings, and strategic initiatives across various sectors.

Major Corporate Developments

JSW Energy emerged as a key focus stock after its subsidiary, JSW Thermal Energy Two Limited, signed a Power Purchase Agreement with West Bengal State Electricity Distribution Company. The agreement covers a greenfield 1,600 MW super/ultra-supercritical thermal power plant project to be commissioned in Salboni, West Bengal, within six years.

HCL Technologies announced a strategic partnership with Carahsoft Technology Corp, a trusted government IT solutions provider, aimed at accelerating digital transformation initiatives in the US public sector. This collaboration positions the company to expand its presence in the American government technology market.

RBL Bank received regulatory clearance as the Competition Commission of India approved the proposed acquisition of shareholding by Emirates NBD Bank. Similarly, the CCI approved Tata Steel's acquisition of 50.01% equity share capital in Thriveni Pellets.

Mixed Q3 Earnings Performance

Quarterly results revealed contrasting performance across different sectors:

CreditAccess Grameen showed remarkable recovery, posting a profit of ₹252.10 crore compared to a loss of ₹99.50 crore in the previous year, with net interest income growing 13% to ₹975.60 crore.

Real Estate and Infrastructure Expansion

Embassy Developments announced significant expansion plans for the Mumbai Metropolitan Region, committing ₹4,500 crore across three residential projects in Worli, Juhu, and Alibaug. The projects represent a combined Gross Development Value of over ₹12,000 crore with approximately 1.58 million square feet of development area, with launches scheduled from Q4 FY2026.

Highway Infrastructure secured a Letter of Award from NHAI for user-fee agency operations at Mundka Fee Plaza on the UER-11 corridor. The project, valued at ₹64.68 crore, involves toll collection operations and facility maintenance.

Regulatory Approvals and Appointments

The Reserve Bank of India approved Kaizad Bharucha's reappointment as Whole-time Director (Deputy Managing Director) of HDFC Bank for three years, effective April 19, 2026. Power Grid Corporation's board approved proposals worth ₹914 crore for procuring cold spare transformers and reactors.

Market Activity and Bulk Deals

Significant institutional activity marked the session, with Fidelity Securities Fund divesting stakes in Aditya Birla group companies:

Amagi Media Labs is set for its mainboard listing today, while several companies including Dr Reddy's Laboratories, Dalmia Bharat, and Waaree Energies are scheduled to announce their December quarter results.