JSW Energy, Groww, OMCs among buzzing stocks as SENSEX, NIFTY50 tumble over 1%

The Indian benchmark indices, SENSEX and NIFTY50, were trading in the negative territory during the afternoon session on Tuesday, May 12, amid a surge in crude oil prices, a weak rupee, and a sell-off in IT and realty stocks.

The SENSEX tanked as much as 1.41% to an intraday low of 74,943.42. Meanwhile, the NIFTY50 touched the session’s low of 23,508.35.

At 12:57 PM, the S&P BSE SENSEX tumbled by 1,036.35 points, or 1.36%, to 74,978.93, while NSE’s NIFTY50 was trading at 23,523.05, marking a 292.80 points, or 1.23% drop.

Buzzing stocks on May 12: Check list

The stock of upstream oil companies such as ONGC and Oil India Ltd was trading in positive territory on Tuesday, May 12, after the government reduced royalty rates on crude oil and natural gas production from multiple categories of fields, including deepwater and ultra-deepwater blocks, to boost domestic exploration and output.

The revised royalty rates and methodologies were notified by the Ministry of Petroleum and Natural Gas on May 8 as part of broader reforms to create a more stable and investor-friendly framework for India’s upstream oil and gas sector.

The government has termed the rationalisation of royalty rates and methodologies for crude oil, natural gas, and casing head condensate as a major reform for India’s upstream oil and gas sector.

Shares of state-run oil marketing companies (OMCs), such as Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL), declined on Tuesday, May 12, amid the ongoing fuel crisis.

Since the war broke out in the Middle East at the end of February, state-owned OMCs have ensured uninterrupted supplies of petrol, diesel, and cooking gas LPG at rates that are way below cost, unlike many global energy systems that imposed rationing or passed through steep price increases.

The NIFTY IT index fell nearly 4%, with all its constituents, including TCS, Infosys, Wipro, Tech Mahindra, and more, trading in the negative territory.

This comes after Sam Altman-led OpenAI announced the launch of OpenAI Deployment Company, a “new company designed to help organisations build and deploy AI systems they can rely on every day across their most important work.”

The OpenAI Deployment Company embeds engineers specialised in frontier AI deployment, known as Forward Deployed Engineers (FDEs), into organisations working on complex problems in demanding environments.

“These FDEs will work closely with business leaders, operators, and frontline teams to identify where AI can make the biggest impact, redesign organizational infrastructure and critical workflows around it, and turn those gains into durable systems,” OpenAI said in a press release.

Shares of JSW Energy tumbled 8% to hit their intraday low on the National Stock Exchange (NSE) on Tuesday, after the March quarter results failed to boost investor sentiment in the power generation firm’s stock.

NSE filings released post-market hours on Monday showed JSW Energy’s profits (attributable to owners of the company) dropped 9% to ₹371 crore in the fourth quarter of the financial year ended 2025-26, compared with ₹408 crore in the same period a year earlier.

The company’s rising financing and fuel costs increased the overall total expenses for the March quarter of the financial year ended 2025-26.

UPL stock dropped over 4% on the NSE on May 12, as the company’s March quarter earnings failed to impress the street.

The agrochemical and crop protection company reported an 18.4% jump in consolidated net profit at ₹1,061 crore on Monday for the fourth quarter of the financial year (Q4 FY26) as compared to ₹896 crore in the same period last year.

Analysts from Jefferies said UPL Limited reported Q4 sales ahead of expectations, but its operating profit margin and reported profit after tax came in below consensus estimates.

They further added that FY26 saw strong deleveraging, with gross debt declining by $850 million to $2.3 billion. The company repaid $500 million of debt in March and refinanced short-term obligations due in September. Net debt-to-EBITDA improved to below 1.6x from 2.1x last year, while net working capital remained range-bound at 57 days.

Shares of Aurionpro Solutions tanked over 10%, as it reported a decline in its EBITD margin in the quarter ended March 31, 2026. However, its consolidated net profit jumped 22.2% YoY to ₹61.51 crore in Q4 FY26.

Its revenue rose 5.7% to ₹345.57 crore during the quarter as compared with Q4 FY25.

Its EBITDA improved marginally by 1.3% YoY to ₹67 crore. However, its EBITDA margin declined by 80.5 basis points (bps) YoY to 19.4% in the March 2026 quarter.

The stock of Billionbrains Garage Ventures (Groww) fell nearly 7% on May 12, on account of two key developments.