Indian stock markets experienced a volatile trading session today, with the Sensex reversing its early gains and slipping into negative territory. The Nifty also mirrored this trend, falling below the 24,800 mark.
At 11:32 am IST, the SENSEX was down 153 points at 81,480 and the NIFTY50 index slipped 49 points to 24,784. The downturn was largely attributed to selling pressure in index heavyweights such as Infosys, Mahindra & Mahindra, Bharti Airtel, Bajaj Finance, Tata Motors and NTPC.
Ahead of the announcement of the fourth quarter (Q4FY25) gross domestic product (GDP) data due later in the day, the Indian equity benchmark indices extended losses in late morning deals.
In the sectoral landscape, Nifty IT declined by 1.15%.
Despite the overall market weakness, certain stocks displayed positive momentum. Suzlon Energy shares saw a significant surge after the company reported a four-fold jump in its consolidated net profit for the March quarter, driven by higher revenues.
On the flip side, Mazagon Dock Shipbuilders experienced a sharp decline, falling as much as 8% after reporting its January-March quarter earnings post market hours on Thursday.
Ola Electric, the electric two-wheeler manufacturer, faced significant investor concern, with its shares plummeting. The stock hit an intraday low of ₹48.07, a fall of 9.7%, after the company reported a widened net loss of ₹870 crore for the March quarter, compared to ₹416 crore in the same period last year. Revenue from operations also dipped considerably, falling 61.8% to ₹611 crore. Vehicle deliveries also saw a drop to 51,375 units in Q4 FY25 from 1.15 lakh units in Q4 FY24. The company's Q4 auto gross margin remained flat at 19.2 per cent.
Despite the disappointing Q4 results, Ola Electric has projected improved numbers for Q1 FY26, targeting ₹800–850 crore in adjusted revenue and a reduced auto EBITDA margin of -10%. The company anticipates breaking even at less than 25,000 unit sales per month through cost efficiencies and increased scale. The company's total gross cash stood at around Rs 4,000 crore at the end of Q4, and it is exploring non-dilutive debt of Rs 1,700 crore to meet obligations.
Other key highlights from today's trading session include:
Investors are closely monitoring the market for further cues, particularly the upcoming GDP data release, which is expected to provide further direction to the market.
