Axis Bank and RBL Bank Shares Decline Following Q4 Earnings, Sun Pharma Rises on Organon Acquisition

Market Volatility Driven by Corporate Developments and Regulatory Triggers

April 27 - Several stocks remained in focus today as corporate developments, earnings updates, and regulatory triggers drove market activity. IndusInd Bank shares rose more than 4 percent after the company reported a profit of Rs 532.71 crore in Q4, a significant turnaround from losses of Rs 2,236 crore in the same quarter last fiscal. The bank's net interest income zoomed 43.4 percent to Rs 4,371.5 crore compared to Rs 3,048.3 crore in the year-ago period.

In another significant development, Sun Pharmaceutical Industries shares added more than 3 percent after the company agreed to acquire New York-listed women's health-care company Organon & Co., in what is likely to be one of the biggest India outbound deals in years. Sun Pharma will pay $14 per Organon share in cash, giving the company an enterprise valuation of $11.75 billion, according to a statement on Monday. The company plans to fund the acquisition through a combination of available cash resources and committed financing from banks.

On the other hand, Axis Bank shares declined 4 percent after reporting a net profit of Rs 7,071 crore for the quarter, which declined 0.6 percent year-on-year from Rs 7,117 crore. However, the bank's net interest income (NII) rose 5 percent on-year to Rs 14,457 crore. The net interest margin stood at 3.62 percent for the quarter.

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RBL Bank share price plunged 3 percent despite posting a significant jump in its net profit at Rs 230 crore in Q4, compared to Rs 68.7 crore in the same quarter last year. The bank's Net Interest Income (NII) rose 6.9% YoY to Rs 1,670.7 crore, compared to Rs 1,563.5 crore a year ago.

Mangalore Refinery and Petrochemicals share price shed 5 percent after Q4 profit sank 68.4 percent to Rs 117 crore, while revenue rises 3.2 percent to Rs 28,493 crore, YoY.

One 97 Communications (Paytm) shares plunged 8 percent after the Reserve Bank of India cancelled the banking licence of the company's associate entity, Paytm Payments Bank, effective April 24. Consequently, Paytm Payments Bank is prohibited from conducting banking business. Following the RBI order, the Board of Directors and shareholders, on April 25, approved the necessary resolutions to enable the winding-up of Paytm Payments Bank.

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Market participants said news flow remains a key driver in the current environment, with investors closely tracking corporate announcements and sector-specific triggers. With earnings season in progress, company-specific updates are expected to drive further volatility.