Stock to Watch today, Friday, May 29: Indian stock markets are expected to open lower on Friday, May 29, after remaining closed on May 27 due to the Bakrid holiday.
GIFT Nifty futures signalled a weak start for benchmark indices. At 07:08 AM, the futures were trading at 23,871, down 125 points from the previous close.
Asian markets, however, traded higher as investors monitored fresh military developments involving Iran and reports indicating that Washington and Tehran may be moving closer to a temporary agreement to pause their ongoing three-month conflict.
South Korea's Kospi climbed 2.68 per cent, Japan's Nikkei 225 rose 0.88 per cent, and Australia's S&P/ASX 200 gained 0.72 per cent.
On Wall Street, all three major US indices ended at fresh record highs overnight, supported mainly by technology stocks. The S&P 500 advanced 0.58 per cent, Nasdaq Composite gained 0.91 per cent, and the Dow Jones Industrial Average edged up 0.05 per cent.
Reliance Industries
Reliance Industries (RIL), India's largest company by market capitalisation, will seek shareholders' approval for internal transactions worth more than ₹16.64 trillion over the next five financial years. The proposed transactions involve digital businesses Jio Platforms and Reliance Jio Infocomm, according to the company's AGM notice filed on Friday. The company also announced that its 49th Annual General Meeting will be held on June 19, 2026.
Zydus Lifesciences
Zydus Lifesciences said its Buyback Committee has approved revisions to the ongoing share buyback programme. The company has increased the buyback price while reducing the number of equity shares proposed to be repurchased.
Oil India
State-owned Oil India announced that its wholly owned subsidiary, OIL Green Energy Ltd (OGEL), has entered into a joint venture agreement with Hindustan Waste Treatment Private Ltd (HWT), a subsidiary of SFC Environmental Technologies Ltd. The partnership aims to develop bioenergy and sustainable waste management projects across India.
Ashok Leyland
Ashok Leyland reported record quarterly and annual revenue, profit, and commercial vehicle sales for FY26. The company said strong domestic demand, export growth, a healthy aftermarket business, and increasing momentum in electric mobility supported the strong performance.
Godfrey Phillips India
Godfrey Phillips India announced that it has signed a contract manufacturing agreement with Polisetty Somasundaram Tobacco Products (India) Private Ltd. Under the agreement, the company will manufacture and supply cigarettes and other tobacco-related products.
Patanjali Foods
Patanjali Foods said it has received a tax demand notice worth ₹1,352.9 crore for FY23. The notice includes ₹676.46 crore each towards SGST and CGST, along with a penalty of ₹135.29 crore and 18 per cent interest on both tax amounts.
GMR Airports
GMR Airports reported a net profit of ₹302.5 crore for the January-March quarter, compared to a loss of ₹237.6 crore in the same period last year. In another filing, the company said it posted a profit of ₹400.49 crore in Q4FY26 against a net loss of ₹252.66 crore in the corresponding quarter last year. Its total income rose to ₹4,042.90 crore from ₹2,976.76 crore a year ago.
PhysicsWallah
Edtech company PhysicsWallah reported a significant reduction in losses during the fourth quarter of FY26. The improvement was supported by strong revenue growth and better operating leverage across both online and offline segments.
Bharat Dynamics
Defence PSU Bharat Dynamics Ltd (BDL) posted a standalone net profit of ₹113.18 crore for the January-March quarter of FY26. However, the figure reflected a 58.5 per cent year-on-year decline compared to ₹272.77 crore reported in the same quarter last financial year.
PC Jeweller
PC Jeweller posted a 61 per cent increase in consolidated net profit at ₹152.89 crore for Q4FY26, helped by higher total income. The company had reported a profit of ₹94.78 crore in the corresponding period last year. Its total income rose to ₹946.26 crore during the January-March quarter from ₹700.10 crore a year earlier.
Lupin
Pharmaceutical company Lupin said results from its Phase 1a trial evaluating LNP8701, a novel SOS1 inhibitor, have been accepted for publication at the American Society of Clinical Oncology (ASCO) 2026 Annual Meeting. The event will take place in Chicago from May 29 to June 2, 2026.
Wipro
Wipro announced an expanded partnership with ServiceNow to implement and scale agentic AI workflows across enterprise functions including IT, HR, procurement, and cybersecurity. The collaboration aims to improve automation and operational efficiency using AI-powered technology solutions.
Key Takeaways
- Indian stock markets are expected to open weak on Friday, May 29, with GIFT Nifty futures down 125 points at 23,871 after the Bakrid holiday break.
- Global markets remained positive as investors tracked developments in the Iran-US situation and hopes of a temporary agreement.
- Reliance Industries will seek approval for internal transactions worth over ₹16.64 trillion involving Jio businesses over the next five years.
- Zydus Lifesciences revised its ongoing buyback plan by increasing the buyback price and reducing the number of shares to be repurchased.
- Oil India signed a joint venture agreement to expand bioenergy and sustainable waste management projects across India.
- Ashok Leyland reported record FY26 revenue, profit, and commercial vehicle sales driven by domestic demand and electric mobility growth.
- Patanjali Foods received a massive tax demand notice of ₹1,352.9 crore for FY23.
- GMR Airports returned to profit in Q4FY26 and reported strong growth in total income.
- PhysicsWallah significantly reduced its quarterly losses due to higher revenue and improved operating leverage.
- Bharat Dynamics reported a sharp 58.5 per cent decline in quarterly net profit year-on-year.
- PC Jeweller posted a 61 per cent jump in Q4FY26 consolidated net profit supported by higher income.
- Lupin announced that its cancer drug trial results will be presented at the ASCO 2026 Annual Meeting in Chicago.
- Wipro expanded its partnership with ServiceNow to strengthen AI-powered enterprise automation solutions.
Disclaimer: The information provided is for informational purposes only and should not be considered investment advice; investors should conduct their own research as market investments are subject to risks.