Stocks to Watch May 20, 2026: BPCL, Hindalco

Market close: benchmarks end slightly lower

Indian equity benchmarks closed in the red on Tuesday, with sentiment shaped by global headlines and mixed sectoral moves. The BSE Sensex fell 114.19 points, or 0.15%, to 75,200.85. The NSE Nifty50 slipped 31.95 points, or 0.14%, to 23,618. The session also saw IT stocks gaining as the rupee weakened to new lows, according to the market wrap provided.

Wednesday setup: muted global cues and bond-yield worries

For Wednesday, May 20, the indices were expected to see a negative start amid muted global market cues. The article cited worries over inflation keeping bond yields high. It also pointed to weaker investor sentiment due to the lack of a US-Iran peace deal, even as the US announced it would halt military strikes on Iran.

Rupee weakness keeps IT stocks in focus

The market note highlighted that IT stocks gained as the rupee fell to fresh lows. While the piece did not provide the rupee level or index-wise IT moves, the linkage was clear: currency weakness is typically supportive for export-heavy IT names. Investors are likely to watch whether the currency trend continues through Wednesday’s session.

BPCL: profit dips YoY; revenue rises

Bharat Petroleum Corporation Ltd (BPCL) was among the key results-driven counters. For the March 2026 quarter (Q4FY26), BPCL reported net profit of ₹3,191 crore, down 1% year-on-year from ₹3,214 crore.

On the topline, the article carried two revenue figures from different summaries. One section stated revenue rose 6.7% year-on-year to ₹1,18,650 crore, while another stated revenue from operations rose 6.3% to ₹1,34,896 crore. Normalised to a single base unit, these translate to ₹1,186,500 million and ₹1,348,960 million, respectively.

The report also cited EBITDA at ₹10,061 crore and an EBITDA margin of 8.5% for the quarter.

Karnataka Bank: profit jumps; NII grows

Karnataka Bank reported a sharp improvement in quarterly profit. Net profit for the March 2026 quarter rose 61.7% year-on-year to about ₹408 crore, compared with ₹252.4 crore in the year-ago period.

Net interest income (NII) increased 8% year-on-year to ₹843 crore from ₹780.7 crore. The lender also reported improvement in asset quality at both gross and net levels, and announced a dividend of ₹5 per share.

Hindalco: Novelis posts loss after Oswego plant fires

Hindalco Industries remained in focus after its US arm, Novelis, reported a net loss of $14 million for Q4FY26, compared with a profit of $194 million in the year-ago period. The article said profitability was impacted by fires at the Oswego plant in the US during September and November.

Despite the loss, net sales rose 4.4% to $1,787 million from $1,587 million a year earlier. Adjusted EBITDA declined 3% year-on-year to $159 million.

Mankind Pharma: profit and margins improve in Q4

Mankind Pharma reported a strong quarterly print. Net profit rose 31.7% year-on-year to ₹554 crore from ₹421 crore in the year-ago period.

Revenue increased 11.8% to ₹3,443 crore from ₹3,079 crore. Normalised to the same base unit, revenue was ₹34,430 million versus ₹30,790 million. EBITDA rose 36.1% year-on-year to ₹930 crore, while EBITDA margin improved by 480 basis points to 27%.

JSW Energy: stake increase in Toshiba JSW Power Systems

JSW Energy announced definitive agreements to acquire an additional equity stake in Toshiba JSW Power Systems (TJPS) through a secondary purchase of shares from Toshiba Corporation, Japan.

The total purchase consideration for the acquired shares is ₹150 crore. Post-transaction, JSW Energy’s stake will rise to 20.7% on a non-diluted basis and 10.7% on a fully diluted basis. The article said the acquisition is aimed at strengthening the company’s thermal power equipment supply chain and supporting its expansion plans in the thermal power segment.

Other result-led names: Godawari Power, Orkla India, PTC India

Beyond the main list, the article flagged several additional results. Godawari Power and Ispat reported a 26.6% year-on-year increase in consolidated net profit to ₹280.1 crore, while revenue from operations rose 9.7% to ₹1,610.3 crore (₹16,103 million).

Orkla India reported a 107% year-on-year rise in net profit to ₹73 crore from ₹35.2 crore. PTC India reported a 69.3% year-on-year decline in net profit to ₹105 crore from ₹343.4 crore, even as revenue surged 33.3% to ₹3,897.5 crore (₹38,975 million).

Deal and flow watch: Jaro Institute stake sale

The article also highlighted a transaction in Jaro Institute of Technology Management and Research. Singularity Growth Opportunities Fund II exited its investment by selling 2.8 lakh shares, representing a 1.27% stake, for ₹14.08 crore through an open market transaction at ₹501.33 per share.

Key numbers table (normalised revenue to “million”)

What investors will track at the open

With the market expecting a soft start on Wednesday, attention is likely to stay on earnings-led moves in BPCL, Karnataka Bank, Hindalco and Mankind Pharma. Investors may also track updates around global inflation cues and bond yields, given the article’s emphasis on yields staying high.

The Iran-related headline flow remains part of the backdrop. The piece noted the US decision to halt military strikes on Iran, but also highlighted that a peace deal was still lacking, which kept broader sentiment cautious.

Conclusion

Tuesday’s close left benchmarks marginally lower, but with several stock-specific triggers lined up for May 20. Quarterly results from BPCL, Karnataka Bank, Hindalco’s Novelis and Mankind Pharma, along with JSW Energy’s TJPS stake increase, are set to shape early trade.