Equity Benchmarks Trade in Narrow Range; Bajaj Finance, IndusInd Bank, and Vishal Mega Mart Take Center Stage Amid Q4 Results

Mumbai, 30th April – Indian equity benchmarks were range-bound on Wednesday as market movements remained constrained despite several stocks experiencing sharp volatility. The SENSEX fluctuated within a 433-point range, while the NIFTY50 index touched an intraday high of 24,395.20 before dipping to a low of 24,268.80. At 11:21 AM, the SENSEX was up 31 points at 80,319.21, while the NIFTY50 edged higher by 3 points to 24,339.

As the overall market reflected subdued action, a number of stocks were in the limelight on account of quarterly earnings releases and firm-specific news. Here is a closer look at the major movers on Wednesday:

Key Corporate Updates:

1. Bajaj Finance
Bajaj Finance stocks fell sharply following the NBFC’s muted Q4 performance. The lender reported a sharp increase in credit costs, with loan losses and provisions jumping 77% year-on-year to ₹2,329 crore. Asset quality also declined, with gross NPAs rising to 0.96% from 0.85% a year ago, while net NPAs rose to 0.44%. The steep increase in provisions and decline in asset quality triggered concerns over emerging stress in some retail lending segments.

2. Bajaj Finserv
Although Bajaj Finserv had a 14% increase in consolidated net profit to ₹2,417 crore in the March quarter, market reaction remained subdued. Revenue grew to ₹35,596 crore, up from ₹32,042 crore during the previous year. Even with a solid operational performance, the numbers didn’t come anywhere near causing investor interest among other financial shares due to the broader market hesitancy.

3. IndusInd Bank
IndusInd Bank witnessed a decline in share price after the abrupt departure of its top leadership. The bank stated:

“…we hereby inform you that Mr Sumant Kathpalia, Managing Director & CEO, Key Managerial Personnel of the Bank, has by his letter dated April 29, 2025, resigned from services of the Bank with effect from close of working hours on April 29, 2025,”

The resignation, which followed the earlier exit of Deputy CEO Arun Khurana, came amid reports of accounting discrepancies related to derivative transactions, prompting investor concern over governance standards.

4. Vishal Mega Mart
Retail major Vishal Mega Mart surged after it delivered an upbeat set of Q4 results. Net profit leapt 88% to ₹115.1 crore, driven by a 13.4% jump in same-store sales. Revenue rose 23.2% YoY to ₹2,547.9 crore, and EBITDA margins expanded to 14%, reflecting strong operational leverage. Management cited resilient consumer demand and network expansion as key growth enablers.

5. Premier Explosives
Shares of Premier Explosives nosedived following an unfortunate incident at its Telangana facility. In a filing to the exchanges, the company said:

“The fire and explosion has resulted in damage of a building and machinery, and these assets have been appropriately insured and the company is in the process of ascertaining the actual loss caused due to the fire and explosion.”

The development has raised concerns about near-term disruption, though the company assured stakeholders that insurance cover is in place.

6. CEAT Ltd.
CEAT’s shares rallied nearly 9% despite reporting a marginal 3% dip in net profit for Q4 to ₹99 crore. The upbeat sentiment stemmed from positive management commentary on future demand, especially from the replacement market. The company emphasized its focus on product mix optimization and margin resilience amid cost pressures.

7. Praj Industries
Engineering solutions provider Praj Industries saw a sharp drop in its stock after posting a 21% fall in net profit for Q4, down to ₹59 crore. Revenue declined over 16% year-on-year. The company cited project execution delays and lower billing cycles during the quarter but maintained a positive medium-term outlook based on strong order visibility from the ethanol and clean energy sectors.

Bottomline-
While the broader market indices remained largely unchanged, specific stocks saw significant volatility based on corporate earnings, leadership changes, and operational incidents. Investors will likely remain cautious in the near term, especially with the corporate results painting a mixed picture across different sectors.