SENSEX drops over 850 points; Tata Teleservices, Colgate-Palmolive, IndusInd Bank, IndiGo among buzzing shares

The Indian equity benchmarks extended losses in noon deals owing to selling pressure in index heavyweights like Reliance Industries, ICICI Bank, HDFC Bank, Mahindra & Mahindra, ITC and Infosys. The SENSEX fell as much as 886 points to trade below its important level of 81,000 and NIFTY50 index fell below 24,550 at the day's lowest level. As of 12;24 pm, SENSEX traded 877 points or 1.08% lower at 80,719 and NIFTY50 index dropped 257 points or 1.04% to 24,556.

Tata Teleservices shares came under strong buying interest starting Wednesday, May 21, after a report by Business Standard suggested that its parent Tata Sons may be forced to infuse fresh capital into Tata Teleservices because it has to pay ₹19,256 crore in adjusted gross revenue (AGR) dues along with other dues to the central government by March 2026.

IndiGo post market hours on Wednesday reported a net profit of ₹3,068 crore in January-March quarter, marking an increase of 62% from ₹1,895 crore during the same period last year. Its revenue from operations rose 24% to ₹22,152 crore in fourth quarter of financial year 2024-25 from ₹17,825 crore in the year-ago period.

The Gurugram-based company reported strong operational performance as its EBITDAR also known as earnings before interest, taxes, depreciation, amortization and rent rose 57% to ₹6,948 crore as against ₹4,412 crore. Its EBITDAR margin improved by 660 basis points to 31.4% from 24.8% in the same period last year.

Morgan Stanley analysts said that Q4FY25 EBITDA was 13% ahead of its estimates while Citi said that Q4 was much better than expectations, driven by strong yields & PLFs – partly reflecting robust demand during Mahakumbh.

Net profit stood at ₹6,448 crore in January-March—the fourth quarter of FY25 (April 2024 to March 2025)—compared to ₹9,869 crore in the same period last year, according to a company statement.

The firm got $73.72 per barrel of crude oil that it produced and sold to refiners for processing into petrol and diesel in the fourth quarter, down from $80.81 per barrel a year back.

The company on Wednesday reported a 6% decline in net profit to ₹355 crore for the fourth quarter ended March 31, 2025, impacted by lower sales.

Colgate had posted a net profit of ₹379.82 crore in the corresponding quarter of the previous fiscal.

Total income in the fourth quarter stood at ₹1,481.57 crore as against ₹1,512.66 crore logged in the year-ago period, it added.

For the quarter, the company reported net sales of ₹1,452 crore as compared to ₹1,481 crore in the same period of the previous fiscal. Total expenses were marginally higher at ₹1,003.95 crore compared to ₹1,001.3 crore seen in the year-ago period.

The stock opened 4.15% lower but soon staged a recovery to trade 3.26% higher at ₹796. As of 12:31 pm, IndusInd Bank was trading on a flat note.

IndusInd Bank reported ₹2,329 crore loss for the March 2025 quarter (Q4 FY25), its worst performance ever, as the interim management opted to go for a deep-clean exercise beyond recognising the impact of wrong accounting practices.

"The investment, made through a combination of preferred and common shares, gives Himadri representation on IBC’s board. This is a significant milestone for Himadri, marking the start of the commercial deployment of its LFP Cathode active and anode materials," the company said in a press release.

The company demerged Madura Fashion and Lifestyle (MFL) into a separate entity.