NMDC Steel Shares Surge 18% Following Turnaround to Profit in Q4
NMDC Steel shares witnessed a massive 18% jump, reaching a 52-week high after the company reported a return to profitability for the fourth quarter of FY26. The steelmaker posted a net profit of ₹391.91 crore, a significant improvement compared to the losses recorded in the same period last year. Along with profit, the company also saw substantial revenue growth, which has renewed investor interest and reinforced confidence in its operational recovery.
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West Bengal Cabinet Expands as Suvendu Adhikari Swears in 35 New Ministers
West Bengal Chief Minister Suvendu Adhikari has significantly expanded his cabinet, overseeing the swearing-in ceremony for 35 additional ministers. The move aims to strengthen the state administration and fulfill political commitments following the BJP's government formation. Notable appointments include Rajesh Mahata, Indranil Khan, and Malati Rava Roy, who have been designated as ministers of state with independent charge. This administrative restructuring is viewed as a strategic step to enhance governance efficiency across various departments in the state. The expansion brings fresh leadership into the executive branch as the government seeks to implement its legislative agenda in West Bengal.
JM Financial Shares Drop 8% After Q4 Net Profit Falls by 31%
Shares of JM Financial witnessed a sharp 8% decline after the company reported a 31% year-on-year drop in its fourth-quarter net profit, which fell to Rs 162 crore. Although the company’s full-year profit numbers showed growth, the weak performance in the final quarter has sparked concerns among investors regarding near-term profitability and operating health. Technical selling was observed as the stock reacted to the disappointing quarterly earnings and lower operating margins compared to previous periods.
Indian IT Stocks Surge up to 5% as Nifty IT Index Rallies 3%
Indian IT stocks experienced a strong rally on Monday, with the Nifty IT index gaining almost 3%. Major players like Infosys, TCS, and Tech Mahindra saw gains of up to 5% as investors moved past concerns regarding AI disruption. The rally was driven by attractive stock valuations, positive technical indicators, and renewed hopes for interest rate cuts in the United States. Analysts suggest that the sector's long-term outlook remains positive, prompting fresh buying from institutional and retail investors.
West Bengal Cabinet Expansion: 35 Lawmakers Set to Take Oath of Office
The West Bengal state government is proceeding with a significant cabinet expansion as 35 Members of the Legislative Assembly (MLAs) prepare to take their oaths of office. The official ceremony is scheduled to be held at 11:00 a.m. at Lok Bhavan, with Governor R.N. Ravi presiding over the proceedings to administer the oath. This administrative reshuffle marks a key development in the state's political landscape, aiming to recalibrate the executive team. The expanded cabinet is expected to address various governance priorities and departmental vacancies within the state administration following the official induction of the new ministers.