WEEKLY TRENDSETTER ( JUNE 5 ,2026)
| 2026 | MAY 22 | MAY 29 | Ch % |
| NIFTY | 23719 | 23548 | -0.72 |
| BANK NIFTY | 54055 | 54239 | +0.34 |
| USD/INR | 95.70 | 95.14 | -0.59 |
MARKET REVIEW-The market clearly lacked confidence for the Nifty to sustain above 24000 as sharp sell-offs followed on every attempt above 24000.However the sell off on the last trading day of the month was inexplicable .On the positive front the US Iran talks were going along on a positive note and crude has also cracked below 95$ and the rupee was also showing signs of reversing its losses against the dollar. The possible reason attributed was the MSCI recast and the below normal expectation on rainfall for 2026.In any case the savage sell off rattled investors and traders alike.
BACK TO RESULT SEASON
March quarter results are trickling in. Let’s explore some of them to get cues of where the stocks could be heading.
Rs in cr, Bracket indicates ch in % against Mar,25 quarter. Loss as in absolute number
| Company | Revenue | Net profit |
| Borosil Renewable | 440(+17) | 170(-29) |
| Diamond Power | 696(+108) | 61(+662) |
| Shadowfax Tech | 1237(+73) | 56(-10) |
| Ramco Cement | 2610(8) | 147(+488) |
Borosil Renewable (502)- The company is one of the earliest entrants into solar glass manufacturing. The Borosil Group has been engaged in manufacturing a wide range of consumer ware, scientific, and laboratory glass/glassware for more than six decades. The company has a plant in Gujarat with solar glass production and processing capacity of 1000 tons per day (TPD), equivalent to 6.5 GW per annum. The company has acquired Europe’s largest manufacturer of solar glass, Interfloat Corporation. With this acquisition, the solar glass capacity has grown to 1350 TPD, and by 2026, it is estimated to go up to around 1950 tons per day (12.5 GW), which is under implementation. The company has posted an EPS of Rs 12 for the March quarter which is the best for FY25-26. An exceptional write off dented the bottomline in the first quarter but for which FY25-26 EPS would have been much higher. With bright growth prospects and improving performance, the scrip will be on the watch list of investors.
Diamond Power (194)-The company is the largest manufacturer of integrated power transmission equipment. The sector has been growing through a strong growth phase which has led to increasing opportunities for companies in the sector. The March quarter saw the company post the best results for FY25-26. What is eye catching is the pace at which revenue is rising which translates into profits. The company is a great turnaround story which went into troubled times before making a strong comeback.
Shadowfax Tech (193)-The company recently went public at an issue price of 124 early this year. While the name could suggest that it belongs to the tech world, it actually is a logistics service provider for e-commerce, express parcel, etc. It has shown strong growth in the past 3 years. From a turnover of Rs 1415 cr to Rs 4202 cr in the FY23-26 period, it has managed to post profits in FY26 for the first time. With an EPS of Rs 2.22 for FY26, the company is showing potential to ride the e-commerce wave.
Ramco Cement (871)-One of the leading cement manufacturers in South India, the company has come out with decent numbers for the March quarter. However, a closer look reveals that over the years the company’s performance has actually been stagnating. In the FY22-26 period while revenue has actually grown by 50% from Rs 6000 cr to Rs 9000 cr, net profit has fallen from Rs 892 cr to Rs 692 cr. Clearly the consolidation that is taking place in the industry is showing its effects even on established players. Interest costs are slowing eating into profits where margins are under pressure. Only some exceptional gains in the last 2 quarters have enabled the company to show a steady bottomline. The stock is already under pressure as investors take note of this.
NIFTY –The index once again closed near the low for the week and now is nearing the 23300 critical support .23150 is a level will be keenly watched as a gap has to be “filled”in technical parlance. Going into next week cues are positive with US markets showing a strong close and some semblance of sanity returning on the war front.
BANK NIFTY-The index has shown vulnerability above levels of 55000 and any attempt to sustain above that level is foiled by selling pressure. On the downside 52800 will be a critical support. Scrip specific HDFC Bank is now very close to the recent 52-week low of 727 touched recently.
Could IT stage a comeback?
Indian IT companies have been under scanner for the past one year on the back of doubts emanating from the fact that AI could disrupt their traditional services which were the bread and butter in the last 30 years. Valuations have become attractive but scepticism among investors is also very high. However, these cash rich companies which have been built on the back of solid pedigree cannot be written off. While there are stray reports of them reorienting their method of business, its still early days. However, last week an encouraging news came from Wipro which saw lot of excitement in the US markets though the same did not rub off on the Indian markets. Wipro has announced an expanded partnership with ServiceNow to implement and scale agentic AI workflows across core enterprise functions. The collaboration aims to reduce manual coordination, improve operational visibility and accelerate execution at enterprise scale.
Scope Of the Partnership
At the core of the deal is the integration of Wipro Intelligence™, which is Wipro’s unified suite of AI-powered platforms and solutions, with the ServiceNow AI Platform. Together, they enable organizations to streamline the initiation, orchestration, and execution of work across enterprise systems, while building in policy-aligned governance and auditability.
If such encouraging news flow steadily comes from the IT stable, there is a case for IT regaining its past glory. After all the often-repeated famous line in cricketing circles “Form is temporary but class is permanent “also applies to our IT companies which have brought glory to the country in the past 3 decades!
Wishing all readers a great week ahead!
Note: Any queries /clarifications may be addressed to stockmasala@gmail.com .
Krish Subramanyam
DISCLAIMER: Kindly note that I am not SEBI registered and the above content is for educational/informational use only and users should consult a registered professional before investing.