Stocks in News May 29: RIL, Coal India OFS Open, ONGC Q4, IDFC First Bank

Retail investors bid today at ₹412 floor as Ashok Leyland posts record ₹1,405 crore Q4 profit, BDL crashes 59.5%, IDFC First Bank’s real profit is ₹427 crore higher than the headline, and ONGC holds at ₹6,649 crore despite output drag

Institutional investors snapped up more than twice the non-retail allocation in Coal India’s government OFS on May 27, 2026, bidding for 11.52 crore shares at an indicative price of ₹417.62, well above the ₹412 floor set by DIPAM — all but guaranteeing the greenshoe option will be exercised. Retail investors get their window today, May 29, as Indian markets reopen after the Eid al-Adha holiday. That is the single most actionable piece of news for anyone opening a trading account this morning.

Meanwhile, Reliance Industries locked in June 19 for its 49th AGM, its most closely watched shareholder event in years given an outstanding Jio IPO commitment and Q4 results that dropped overnight, splitting in two clean directions: Ashok Leyland at an all-time record and Bharat Dynamics in freefall.

Coal India OFS: Already 2x Oversubscribed — What Retail Investors Need to Know Today

The government is selling up to a 2% stake in Coal India via OFS, a 1% base offer plus a 1% greenshoe. Day 1 (non-retail, May 27) is done. Here is what it showed:

• Institutional investors bid for 11.52 crore shares—over 2x the non-retail base allocation
• Indicative price discovered: ₹417.62 per share, above the ₹412 floor
• The Greenshoe exercise is now near-certain, taking total divestment to 2%
• Total expected raise at floor: ₹5,078 crore
• This is the second PSU OFS this fiscal, after Central Bank of India raised ₹2,266 crore

Retail allotment will be at the cut-off price discovered in the non-retail session. With an indicative price at ₹417.62, retail investors should not assume allotment at the floor of ₹412.

Check Live: COAL INDIA Option Chain: Live NSE OI, PCR, IV & Greeks

RIL June 19 AGM: Key Dates, Dividend, and the Jio IPO Watch

Reliance Industries confirmed its 49th Annual General Meeting on June 19, 2026 at 2:00 PM IST via video conferencing, per its exchange filing.

Why this AGM is different:

• At the 48th AGM (August 29, 2025), Mukesh Ambani committed to listing Jio Platforms in H1 FY26
• June 19 falls inside that window, making this the natural stage for an IPO update or timeline revision
• All five Ambani family members expected to present on separate business verticals
• No formal IPO filing has been made as of May 29, 2026

RIL Key Dates Table:

Dividend history context:

Total FY26 dividend outgo at ₹6/share: ₹8,119.48 crore. Investors must hold RIL shares on or before June 5 to qualify.

Check live: Reliance Industries (RIL) Option Chain: Call/Put Price, Lot …

ONGC Q4 FY26: Profit Up 3% — But Output Decline Is the Structural Problem

ONGC posted a 3.1% rise in Q4 net profit to ₹6,649.97 crore for January–March 2026. Sounds stable. It is not as clean as it looks.

Key risk: Higher global crude prices are doing the heavy lifting. Domestic output declined year-on-year. If crude softens, and US-Iran tension remains the active wildcard, ONGC has no volume buffer to absorb margin compression.

Check live: OIL & NATURAL GAS CORPORATION Option Chain (NSE)

IDFC First Bank Q4: The Headline PAT Is Misleading — The Real Number Is ₹746 Crore

Reported PAT: up 4.9%. Real story: up 145%. Here is why they are two different numbers.

Check live: IDFC FIRST BANK NSE Stock Price Today

*Normalised PAT strips out three one-time items: Haryana government fraud incident (post-tax hit: ₹483 crore), treasury loss, income tax refund

What the numbers actually say:

• The ₹483 crore fraud hit is one-off; management confirmed no further material adjustments required
• Microfinance stress (industry-wide issue in FY25–26) is now behind the bank per MD V. Vaidyanathan
• Provisions fell every single quarter of FY26 — Q1: 1.92% → Q2: 1.58% → Q3: 1.45% → Q4: 1.18%
• Credit cards crossed 4.5 million in Q4; total customers: 38 million
• 87% of loan growth came from mortgage, vehicle, consumer, business banking and wholesale, not microfinance

BDL vs Ashok Leyland: The Sharpest Q4 Contrast of the Season

Two government-capex-linked sectors. Two completely opposite outcomes.

BDL — what happened:

• Defence contract revenues are execution-timed and lumpy—Q4 is the problem quarter when orders slip
• EBITDA margin contracted from 16.82% to 11.5%—costs without revenue to absorb them
• The Board recommended final dividend ₹0.40/share (face value ₹5); interim of ₹4.50 already paid February 2026
• Auditors flagged Board composition non-compliance with Section 149, Companies Act—an additional governance overhang

Ashok Leyland—what stands out beyond the headline:

• EV arm Switch Mobility turned profitable for the first time: PAT ₹104 crore vs a loss in FY25
• e-Bus volumes surged 238% to 1,530 units; e-LCV volumes rose 56% to 1,606 units
• Exports hit an all-time high of 18,082 units, up 18.5% — Indonesia market entry announced
• Net cash jumped from ₹4,242 crore (FY25) to ₹5,899 crore—financial headroom for acquisition or capex
• Second interim dividend: ₹2.50/share; record date June 3, 2026; no final dividend for FY26

India VIX: Fear Down 19% This Week — Benchmarks Still Flat

India VIX closed at 14.98 on May 27, down approximately 19% for the week, one of the sharpest weekly falls of 2026. The previous close before the week was around 18.5.

• Falling VIX = reduced fear = should support upside
• Reality: benchmark indices ended near-flat on May 27, dragged by banking and financial stocks
• FII selling remains a persistent overhang; DII buying is cushioning, not driving
• VIX at 14.98 is now 48% below its 52-week high

The disconnect between falling fear and flat indices is the real market signal this week; it suggests the rally, when it comes, may be sharper than the current range implies.

Upcoming Market Triggers — Week Ahead

Read More: RIL AGM June 19: Will Ambani Finally Give Jio IPO Date? Key Dates, Dividend Inside

FAQ

Q1: What is the RIL dividend record date for FY26 and when will it be paid?

Record date is June 5, 2026. A Dividend of ₹6 per share will be paid within 7 days of the June 19 AGM, subject to shareholder approval. Investors must hold RIL shares on or before June 5 to qualify. RIL’s FY26 dividend of ₹6 is higher than FY25’s ₹5.50 per share.

Q2: Is the Coal India OFS worth bidding for retail investors on May 29?

Institutional investors bid at ₹417.62 vs. the ₹412 floor, 2x+ oversubscribed on Day 1. Retail allotment is at the cut-off price from the non-retail session, meaning retail investors may receive shares at or near ₹417, not ₹412. Greenshoe exercise is near-certain. The OFS represents a 10.1% discount to the May 26 NSE close of ₹458.15.

Q3: What is IDFC First Bank’s actual profit in Q4 FY26 after removing the one-time fraud charge?

Normalised PAT is ₹746 crore, up 145% YoY. The reported ₹319 crore includes a ₹483 crore post-tax hit from a fraud incident involving Haryana state government accounts, confirmed as one-time by management. No further material adjustments are expected, per MD V. Vaidyanathan.

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All figures are sourced from BSE/NSE exchange filings, DIPAM official announcements, and company press releases. This article is for informational purposes only and does not constitute investment advice.