Coal India Declines 3% Amid Government Stake Sale Plan, While Landmark Cars and Gandhar Oil Experience Share Price Gains on Strong Q4 Earnings

Market Activity Driven by Corporate Developments and Earnings Announcements

May 27 marked a significant day in the market as several stocks remained in focus due to corporate developments, earnings announcements, and regulatory triggers. One of the key drivers of market activity was HG Infra Engineering, which saw its shares gain 1 after being declared a qualified bidder by REC Power Development and Consultancy, a subsidiary of REC, for the construction of 220/132/33 kV AIS substations at Ranipur in Mau and Chunar in Mirzapur, Uttar Pradesh. The contract is valued at Rs 45 crore.

Saatvik Green Energy also witnessed a surge in its shares, moving higher by 3 percent after securing an order worth Rs 171.45 crore from a reputed independent power producer/EPC player for the supply of solar PV modules.

On the other hand, Coal India shares declined 4 percent after the Government of India announced plans to divest up to a 1 percent stake in the company through an offer-for-sale (OFS) scheduled for May 27 and May 29, with an option to sell an additional 1 percent stake. The floor price for the OFS has been set at Rs 412 per share.

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Several other companies also reported significant earnings growth. Ram Ratna Wires reported a 116.8 percent year-on-year jump in consolidated net profit to Rs 39 crore for the fourth quarter, compared to Rs 18 crore in the corresponding period last year. Revenue also climbed 83.2 percent YoY to Rs 1,752.9 crore from Rs 956.7 crore.

Gandhar Oil Refinery India posted a 248.6 percent rise in Q4 profit to Rs 40.7 crore versus Rs 11.7 crore a year ago. Revenue increased 13.7 percent YoY to Rs 1,093.4 crore from Rs 961.7 crore.

Landmark Cars reported more than a 10-fold jump in quarterly profit to Rs 15.03 crore compared to Rs 1.42 crore in the year-ago period, while revenue rose 17.2 percent YoY to Rs 1,278.5 crore from Rs 1,091.2 crore.

Market participants noted that news flow remains a key driver in the current market environment, with investors closely monitoring corporate announcements and sector-specific developments. As the earnings season progresses, company-specific updates are expected to continue driving stock-specific volatility.

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