Quarter 2 earnings season delivered a day of dramatic divergence on the markets, with investors clearly separating the performers from the laggards. While strong operational efficiency and robust profits sent some stocks to new highs, others were brutally punished for weak results, margin pressures, and damaging corporate news.
Here’s a look at the day’s biggest market-moving results.
The Winners’ Circle: Profits and Optimism Get Rewarded
Several companies delivered results that not only beat expectations but also instilled confidence, leading to significant rallies.
🏆 NALCO (+9%): The state-owned aluminium producer was the star performer, surging nearly 9% to an 11-month high. The rally was fueled by a 37% YoY jump in net profit to ₹1,430 crore. Adding to the cheer, the company declared a generous interim dividend of ₹4 per share.
💊 Torrent Pharmaceuticals (+7%): The pharma major hit a fresh 52-week high after posting a 30.5% YoY rise in net profit to ₹591 crore. The performance, driven by strong US and Brazil sales, earned it ‘Buy’ ratings from brokerages like Jefferies, which sees over 20% more upside.
💄 Nykaa (+5%): The beauty e-tailer surged close to its 52-week high after a stellar quarter. For the 12th consecutive quarter, revenue grew in the mid-20s, but the real story was the bottom line: net profit skyrocketed 154% YoY as EBITDA margins expanded to 6.8%.
🚗 Uno Minda (+6.5%): The auto components maker rallied after reporting a 24.1% rise in Q2 net profit. The strong performance prompted brokerages like Nomura and CLSA to hike their price targets, citing the company’s growing share in the EV segment.
💻 KPIT Technologies (+5%): In a case of sentiment triumphing over mixed numbers, KPIT Tech gained after management expressed optimism for a “better” second half and FY27. Despite nearly flat constant currency growth, the hopeful commentary was enough to lift the stock, which is down 20% YTD.
The Plunge: Weak Results and Bad News Punished Severely
It was a bloodbath for companies that missed estimates or were hit by negative developments.
⚡ Transformers & Rectifiers (-20%): The day’s biggest loser crashed 20% to its lower circuit. It was hit by a double whammy: a 25% YoY drop in net profit and the devastating news that the World Bank has debarred the company from its projects over allegations of corruption and fraud.
🚢 Shipping Corp of India (-8%): The PSU stock sank after a weak quarter, where net profit fell 35% and margins contracted by a steep 600 basis points. The decline was broad-based across all its key segments.
🛍️ V-Mart Retail (-8%): In a curious case, the stock tanked despite seemingly positive results. The company narrowed its net loss to just ₹9 crore (from ₹56.5 crore last year) and expanded its EBITDA margin by 300 basis points. The sharp sell-off suggests the market expected a full return to profitability.
🏭 Graphite India (-9%): The stock plunged after its net profit plummeted 60%. Margins collapsed to 5.9% from 17.1% last year, hurt by lower electrode prices and a significant ₹80 crore inventory write-down.
⛈️ Epigral (-7%): The chemicals firm saw its shares drop after blaming an “extended monsoon” for a 36% fall in net profit and a 7% decline in revenue.
The Debut Disappointment: Lenskart’s Bumpy Landing
In one of the most-watched events of the day, Lenskart made a weak market debut, listing at a 3% discount to its IPO price. This came as a shock to many, considering the issue was oversubscribed 28 times.
The weak listing was foreshadowed by a collapse in its Grey Market Premium (GMP) and, in a very rare move, a pre-listing ‘Sell’ call from Ambit Capital. The brokerage flagged major valuation concerns, citing a high P/E ratio of 230 and weaker return ratios compared to peers, calling its capex-heavy model a drag on returns. The debut serves as a stark reminder that in the current market, hype can only go so far—valuations and fundamentals ultimately matter.
