Stocks to Watch: Q4 Results, Sugar Ban May 2026

Benchmarks end marginally higher

Indian equities closed slightly higher on Wednesday, snapping a four-day losing streak even as global cues stayed mixed. Investors tracked geopolitical tensions and firmer crude oil prices through the session. The BSE Sensex rose 49.74 points, or 0.07%, to 74,608.98. The NSE Nifty50 gained 33.05 points, or 0.14%, to 23,412.60. With the rebound limited, attention into Thursday’s trade is expected to stay stock-specific, led by earnings and corporate actions.

What may drive Thursday’s pre-open setup

The key triggers flagged for Thursday, May 14, 2026 include a dense Q4 results calendar, dividend-related trading adjustments, and a policy move impacting the sugar sector. Several companies announced quarterly numbers after market hours or ahead of Thursday’s session, bringing earnings-sensitive counters into focus. Separately, some stocks are set to trade ex-dividend. The government’s restriction on sugar exports is also likely to influence sentiment in sugar names through the week.

Q4 results slate: heavy earnings calendar

A large set of companies is scheduled to announce results for the quarter ended March 31, 2026. Names mentioned include JSW Steel, Hindustan Aeronautics, Muthoot Finance, IRFC, Tata Motors Passenger Vehicles, Siemens Energy India, United Spirits, Vishal Mega Mart, Housing and Urban Development Corporation, Voltas, Global Health, Apollo Tyres, Data Patterns, Kirloskar Oil Engines, Sai Life Sciences and GMDC, among others. With many of these stocks actively traded, early moves can be driven by headline numbers such as revenue growth, margin commentary and dividend announcements.

Corporate actions: ex-dividend stocks in play

Three counters are set to trade ex-dividend on Thursday: Brookfield India Real Estate Trust (REIT), Kewal Kiran Clothing and Oberoi Realty. Ex-dividend trading typically results in price adjustments reflecting the dividend amount, which can affect near-term charts and volumes. Investors also watch such sessions for delivery trends and whether the stock stabilises quickly after the adjustment.

Sugar export ban shifts focus to mills

The Government of India has banned exports of raw, white and refined sugar with immediate effect until September 2026. This policy move brings sugar stocks into focus, including Balrampur Chini Mills, Dalmia Bharat Sugar, Dwarikesh Sugar Industries, Dhampur Sugar and EID Parry. The development is likely to be tracked alongside domestic sugar inventory dynamics and any further clarifications, given the direct link between export flows and realisations.

Bharti Airtel: profit declines, ARPU improves, dividend announced

Bharti Airtel reported that net profit fell 33.5% year-on-year to Rs 7,325 crore for the March 2026 quarter. Revenue for the quarter was reported at Rs 55,383 crore. Average revenue per user (ARPU) increased to 257, while the company’s margin expanded by 60 basis points to 57.8%. Airtel also announced a final dividend of Rs 24 per share.

Tata Motors CV and DLF: mixed trends in autos and real estate

Tata Motors CV reported a 33.8% year-on-year rise in net profit to Rs 33.8 crore for the quarter ended March 31, 2026. Revenue increased 19.4% year-on-year to Rs 26,098 crore. Ebitda rose 8.6% year-on-year to Rs 2,640 crore, while margins declined to 10.12%. The company announced a final dividend of Rs 4 per share.

DLF reported net profit down 1.1% year-on-year at Rs 1,268.6 crore, while revenue declined 42% year-on-year to Rs 1,814 crore. Ebitda fell 58% year-on-year to Rs 411 crore, with margins at 22.6% for the quarter. DLF announced a dividend of Rs 8 per share.

LIC Housing Finance and Bharti Hexacom: numbers to track

LIC Housing Finance reported net profit up 9% year-on-year at Rs 1,497.41 crore for the March 2026 quarter. Revenue from operations was flat at Rs 7,194.34 crore. The individual home loan portfolio stood at Rs 2,70,893 crore, up 4% year-on-year, while the total outstanding portfolio rose to Rs 3,20,707 crore.

Bharti Hexacom reported net profit down 4.6% year-on-year at Rs 446.7 crore, while revenue grew 5.4% year-on-year to Rs 2,414 crore. Ebitda increased 8.5% year-on-year and margins improved to 53% for the quarter. The company announced a final dividend of Rs 18 per share.

Mid- and small-cap results: bonus issue, debt reduction, order book

A cluster of mid- and small-cap results may influence broader market breadth. SignatureGlobal India reported net profit of Rs 1,150 crore, while revenue from operations rose 113% year-on-year to Rs 1,110 crore. Its Ebitda margin fell to 16%, and net debt was Rs 200 crore as of March 31, 2026, down 77% year-on-year.

eClerx reported net profit up 24.5% year-on-year at Rs 189.3 crore, with revenue from operations up 23.3% year-on-year to Rs 1,107 crore for January to March 2026. Ebitda stood at Rs 313 crore and the company announced a 1:1 bonus issue. Quality Power Electrical Equipments reported net profit up 65.7% year-on-year at Rs 50.7 crore and revenue up 138.5% year-on-year to Rs 309.8 crore, with an order book above Rs 1,400 crore as of March 31.

Corporate developments: buyback consideration and new orders

Zydus Lifesciences said its board will meet on May 19 to consider a buyback of equity shares. The company noted that, if approved, it would be its third buyback in four years, following buybacks in 2022 and 2024.

NBCC (India) received two orders worth Rs 131.02 crore from Central Bank of India and the government of Andhra Pradesh. Anand Raj constituted a committee to evaluate a potential demerger for its data centre business and appointed Anish Sarin as Director. The company also reported it raised Rs 1,100 crore via a QIP.

Key numbers at a glance

Market impact: why these triggers matter

With headline indices moving in a tight range, earnings and policy developments can dictate near-term positioning. Dividend announcements from companies such as Bharti Airtel, Tata Motors CV, DLF and Bharti Hexacom can influence short-term flows, especially around ex-date adjustments and yield comparisons.

The sugar export ban is a sector-level trigger, as it directly affects the export channel for mills until September 2026. Meanwhile, order wins like those reported by NBCC, and corporate actions such as the buyback consideration at Zydus Lifesciences, can change near-term sentiment even in a mixed macro backdrop.

What to watch next

Thursday’s session is likely to be driven by reactions to Q4 results already declared and expectations from the companies reporting during the day. Investors will also track how sugar stocks price in the export restriction and whether ex-dividend names stabilise after the adjustment. The next dated event called out in the updates is Zydus Lifesciences’ board meeting on May 19 to consider a buyback.