🇮🇳 India Daybook: Adani Secures JAL Assets, SRF Profit Climbs, Axis MF Limits Overseas Inflows

📍 ACQUISITION

• Adani Enterprises: The National Company Law Appellate Tribunal (NCLAT) has upheld Adani Group’s ₹14,535 crore resolution plan for Jaiprakash Associates Limited (JAL). This landmark deal gives Adani control over nearly 4,000 acres of prime NCR land and the strategic Yamuna Expressway, the primary link to the upcoming Jewar International Airport.

📍 EARNINGS

• SRF Ltd: The chemicals giant reported an 11% year-on-year rise in Q4 net profit. The company has also significantly increased its capital outlay for the Odisha refrigerants project to ₹2,300 crore. An investor call is scheduled for May 6 to discuss the FY26 roadmap.
• Sobha Ltd: The real estate developer's Q4 profit doubled to ₹193.40 crore compared to the previous year. Annual collections for FY26 reached a record ₹7,798 crore, marking a 26% growth, while net debt was significantly reduced.
• Marico: The FMCG major posted a net profit of ₹391 crore for the quarter ended March 2026 and recommended a final dividend of ₹4 per share.
• Tata Technologies: The company reported a strong Q4 exit with improved revenue visibility for FY27, leading to a positive outlook from analysts despite a cautious broader tech environment.

📍 REGULATORY

• Axis Mutual Fund: Starting May 6, 2026, the fund house has suspended all fresh subscriptions, including lump sums and new SIP/STP registrations, for three overseas schemes: Axis Global Equity Alpha, Global Innovation, and Greater China Equity. The move follows the industry hitting the RBI-mandated $7 billion limit for foreign securities.

📍 STOCKS TO WATCH

• Bajaj Auto & Polycab India: Both companies are scheduled to release their Q4 financial results today, May 6. Analysts expect strong volume growth for Bajaj Auto and continued margin expansion for Polycab.
• Oil Marketing Companies (OMCs): BPCL, HPCL, and IOC will be under pressure as Brent crude prices remain elevated above $110 per barrel, threatening marketing margins.
• Banking Sector: HDFC Bank and ICICI Bank remain in focus following persistent FII selling and currency volatility, with the rupee trading at historic lows against the US dollar.

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