Markets close sharply higher for the second straight session. Adani Enterprises hits a 52-week high after an Rs 1,435 crore block deal. JSW Steel’s headline Rs 16,370 crore profit includes a Rs 18,051 crore one-time gain; normalised PAT is Rs 3,475 crore. Tata PV turns profitable sequentially. ITC Hotels’ results are due today, May 15.
Mumbai, May 14, 2026
Indian equity markets closed sharply higher for a second consecutive session on Thursday, May 14, with the Nifty 50 settling 277 points or 1.18% higher at 23,689.60 and the Sensex rising 789.74 points or 1.06% to 75,398.72, per Business Standard’s market close data. Adani Enterprises, Cipla, and Bharti Airtel were the top gainers in the Nifty 50 index. IT stocks remained the only major laggard for a second straight day.
Stocks in Focus — Full Data Table
| Stock | Why in Focus | Key Number | Change |
|---|---|---|---|
| Adani Enterprises | Block deal: Rs 1,435 Cr + 52-week high on May 14 | Rs 1,435 crore block deal; stock at Rs 2,719.55 | +54% from March low |
| Tata Motors PV | Q4 FY26 results declared May 14 | Consolidated PAT: Rs 5,783 crore | Swing from loss of Rs 3,486 crore in Q3 |
| JSW Steel | Q4 FY26 results declared May 14 | Reported PAT Rs 16,370 crore; normalised Rs 3,475 crore | Revenue +14% YoY to Rs 51,180 crore, all-time high |
| Nifty 50 | Second rebound session | Closed at 23,689.60 (+1.18%) | Resistance at 23,800 |
| ITC Hotels | Q4 FY26 results due May 15 | Analyst estimate: revenue Rs 820–920 crore, PAT Rs 55–75 crore | Base: Q4 FY25 PAT Rs 257 crore |
Also Read: Adani Enterprises Ltd. Share Price Today
Adani Enterprises — Block Deal, 52-Week High, and a Rs 15,000 Crore Question
Adani Enterprises touched Rs 2,712 on May 14, its highest level in more than a year, after a massive block deal worth Rs 1,435 crore, nearly 60 lakh shares, changed hands within minutes of market open. Since its March low of Rs 1,753, the stock has climbed over 54%. Adani Green Energy also scaled a fresh one-year high at Rs 1,424.10, while Adani Power hit an intraday high of Rs 225.60.
Kranthi Bathini, Equity Strategist at WealthMills Securities, attributed the rally to Adani Group’s investments in data centres, AI-related infrastructure, and the flagship entity’s model of incubating businesses before listing them separately, a strategy that has already produced Adani Ports, Adani Power, Adani Green Energy, and others.
Adani Enterprises’ Q4 FY26 revenue jumped 20.3% year-on-year to Rs 32,439 crore, even as the company posted a net loss of Rs 220.71 crore due to the absence of the exceptional gain that boosted Q4 FY25 numbers, a distinction the block deal rally appears to have looked past entirely.
That’s not the whole story, though. The board has approved a proposal to raise up to Rs 15,000 crore through equity shares or other eligible securities via QIP, preferential issue, or private placement, subject to shareholder approval at the AGM on June 24, 2026. According to the analyst commentary on the raise, a successful fundraise would further strengthen the group’s expansion plans and capital position. But a Rs 15,000 crore issuance at the current market cap will dilute existing shareholders, and that vote on June 24 is the real event to watch, not yesterday’s block deal.
Bathini cautioned that Adani Group stocks remain volatile given their past track record and are suitable only for investors with a high-risk appetite.
JSW Steel—Read the Normalised Number, Not the Headline
JSW Steel reported consolidated net profit of Rs 16,370 crore in Q4 FY26, against Rs 1,503 crore a year ago. That 10x jump is real on paper, but not in operations. The headline figure includes an exceptional gain of Rs 18,051 crore from the slump sale of the BPSL steel business to JSW JFE Steel, a 50:50 joint venture with Japan’s JFE Steel Corporation, completed on March 27, 2026.
Strip the one-time item out. Normalised profit after tax, excluding exceptionals, was Rs 3,475 crore for Q4 and Rs 8,698 crore for the full year FY26. The underlying operational performance is still strong. EBITDA rose 35% year-on-year to Rs 8,634 crore, and revenue from operations surged 14% to Rs 51,180 crore, an all-time quarterly high for the company.
Exports stood at 0.75 million tonnes, up 36% year-on-year, contributing 10% of sales from Indian operations in Q4. For FY27, JSW Steel has set consolidated crude steel production guidance of 29.75 MMT and sales of 28.60 MMT, with capex planned at Rs 22,000–24,000 crore. The board recommended a final dividend of Rs 7.10 per equity share for FY26, with a record date of July 7, 2026.
Tata Motors PV — Domestic Strength, JLR Weakness, and a Sequential Turnaround
Tata Motors Passenger Vehicles reported standalone revenue rising 43.3% year-on-year to Rs 18,598 crore in Q4 FY26, posting a standalone net profit of Rs 455 crore against a loss of Rs 233 crore in Q3 FY26. Year-on-year, standalone profit fell 71% from Rs 1,593 crore in Q4 FY25, the quarter that still had higher JLR contribution flowing through.
On a consolidated basis, Tata Motors PV posted net profit of Rs 5,783 crore in Q4 FY26, reversing a loss of Rs 3,486 crore in Q3, driven by normalised JLR production and record domestic volumes. Consolidated revenue from operations rose 7% year-on-year to Rs 1,05,447 crore.
The domestic business is now the stronger half. Domestic volumes hit 201,800 units in Q4 FY26, up 37% year-on-year and the highest-ever quarterly sales, while Vahan market share improved to 14.2% and EV Vahan market share stood at 40.2% for the full year. JLR is the drag. JLR revenue fell 11.1% in Q4, EBITDA margin came in at 14%, and profitability was hit by the planned wind-down of outgoing Jaguar models and competitive pressure in China.
CFO Dhiman Gupta described FY26 as “a tale of two halves,” strong domestic momentum post-GST 2.0 against several JLR headwinds, including tariffs and a cyber incident. Management targets reducing JLR’s breakeven volumes toward 3 lakh units within two years and plans to launch the new Range Rover Electric and the new Jaguar in FY27. The board recommended a final dividend of Rs 3 per equity share, with payment on or before July 14, 2026.
Market Technicals—23,800 Is the Ceiling
Ajit Mishra, SVP Research at Religare Broking, noted the Nifty rebounded after hitting an intraday low of 23,262 on May 13 and has nearly filled the gap around the 23,150 level. The index is likely to face selling pressure on rebounds toward the 23,600–23,700 zone, with participants advised to align positions accordingly. Bajaj Broking Research flagged resistance at 23,800 — the recent breakdown zone — and downside support at 23,000–23,200. Broader markets outperformed the headline indices on May 14, with Nifty MidCap 100 climbing 1.12% while Nifty SmallCap 100 was flat at -0.01%.
ITC Hotels — Results Due Today, May 15
ITC Hotels’ board meets May 15, 2026, to approve FY26 audited results and recommend a final dividend, per a regulatory filing dated May 8. Analyst consensus estimates revenue at Rs 820–920 crore and PAT at Rs 55–75 crore for Q4 FY26, with EBITDA margin expected at 22–26%. The base from Q4 FY25, revenue of Rs 1,060 crore and PAT of Rs 257 crore, sets a high bar, particularly since the March quarter benefits from peak travel seasonality. Any miss on PAT below Rs 55 crore would represent a year-on-year decline of over 78% and will move the stock sharply on Friday.
What to watch next
JSW Steel’s FY27 capex guidance of Rs 22,000–24,000 crore makes it one of the most capital-intensive investment cycles in the domestic metals sector heading into next year. Adani Enterprises’ Rs 15,000 crore equity raise vote at the AGM on June 24, 2026, is the next hard event for the conglomerate, and the answer to whether that capital gets deployed into airports, data centres, or copper smelting will define the stock’s next leg far more than any block deal. ITC Hotels declares results today at market close. Watch the PAT print against the Rs 257 crore base from Q4 FY25.
Also Check: TATA MOTORS PASSENGER VEHICLES Share Price Chart
Frequently Asked Questions
Q: Why did Adani Enterprises stock hit a 52-week high on May 14, 2026?
A block deal worth Rs 1,435 crore, nearly 60 lakh shares, traded within minutes of opening, signalling strong institutional interest. The stock climbed to Rs 2,719, up 54% from its March low of Rs 1,753. The board has also approved a plan to raise up to Rs 15,000 crore through equity shares or other eligible securities, subject to shareholder approval at the AGM on June 24, 2026, a capital event that the market is currently reading as bullish.
Q: What is JSW Steel’s actual Q4 FY26 profit excluding one-time gains?
The reported consolidated profit of Rs 16,370 crore includes an exceptional gain of Rs 18,051 crore from the slump sale of BPSL. Normalised PAT excluding exceptionals was Rs 3,475 crore for the quarter, the number to use for valuation and peer comparison.
Q: Did Tata Motors PV turn profitable in Q4 FY26?
Yes, on a consolidated basis, Tata Motors PV posted a profit of Rs 5,783 crore in Q4 FY26, reversing a loss of Rs 3,486 crore in Q3 FY26, driven by normalised JLR production and record domestic volumes of over 200,000 units. JLR’s EBITDA margin was 14% for the quarter, with profitability impacted by Jaguar model wind-downs and China headwinds.
Sources: Business Standard, BusinessToday, Free Press Journal, Upstox, INDmoney, LatestLY, Goodreturns, Religare Broking, Bajaj Broking Research, WealthMills Securities, ScanX Trade, MarketsMojo, Univest, Screener.in, Tickertape. Data as of May 14–15, 2026. Not investment advice.
