Stocks to Watch: Tata Power, Dixon Tech, Indian Hotels Highlighted Among 10 Key Shares for May 12

Indian Stock Market Witnesses Steepest Single-Day Fall Since April 24

The Indian stock market experienced intense selling pressure on Monday, May 11, as investor sentiment turned negative following a sharp rise in crude oil prices after optimism around an imminent peace agreement in West Asia diminished. The market weakness was further aggravated by heavy selling in realty and consumer durable stocks after Prime Minister Narendra Modi called for a series of measures.

Market Performance

The Nifty closed 1.51% lower at 23,811, while the Sensex declined 1.73% to settle at 76,072. Both benchmark indices posted their steepest single-day fall since April 24.

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The market is likely to continue its losing streak as trends in the Gift Nifty index signalled a negative opening on Tuesday. Gift Nifty was trading near the 23,738 mark, down over 48.50 points from the previous close of Nifty futures.

Stocks to Watch

As the market is pointing towards a negative start, some stocks are likely to remain in focus on Tuesday, 12 May, due to their own positive/negative triggers. The top 10 stocks that will remain in focus are:

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• Tata Power
• Dr Reddy's
• Dixon Technologies
• Nazara Technologies

These stocks will remain in focus as companies will release their Q4 results today.

Company Updates

• Indian Hotels: The company delivered a robust performance in the fourth quarter, with consolidated net profit increasing 14.9% year-on-year to ₹600 crore, up from ₹522.3 crore in the same quarter of the previous year.
• JBM Auto: The company posted a stable performance in the fourth quarter, with consolidated net profit increasing 11.9% year-on-year to ₹74.2 crore, up from ₹66.3 crore in the corresponding period last year.
• Bank of Baroda: State-run Bank of Baroda is targeting a 10% growth in its ₹4.56 lakh crore corporate loan portfolio in FY27 and has identified a current pipeline of large-ticket loans worth ₹50,000 crore.
• Ather Energy: The company on Monday announced that sales of its Rizta electric scooter have surpassed 3 lakh units within two years of its launch, making it the firm’s highest-selling model.
• HFCL: The company has received export orders valued at nearly $19.32 million for supplying optical fiber cables to leading global clients.
• Bharat Forge: The company has signed a long-term agreement with Embraer to manufacture and supply critical landing gear forgings, marking its entry as the first Indian supplier in Embraer’s global aerospace supply chain for forged components.
• Adani Ports and Special Economic Zone: Pranav Choudhary has stepped down from his role as CEO – Ports at Adani Ports to explore opportunities outside the Adani Group, with his resignation taking effect from May 31. Meanwhile, the Board has named Niraj Bansal as the new CEO – Ports, effective June 1.
• JSW Energy: The company posted record EBITDA in the March quarter, supported by capacity expansion, robust operational performance, and contributions from recent acquisitions, although its net profit fell compared to the year-ago period.
• Satin Creditcare Network: The company on Monday, May 11, posted a strong increase in its fourth-quarter profit, driven by consistent loan growth and resilient asset quality amid a difficult operating environment.