Nifty Metal Gains After 15% Import Duty on Precious Metals; Texmaco Rallies After Securing ₹4,045 Crore Order – Paper by Pocketful
Market Recap: 13th May, 2026
Stock News Highlights
Dr. Reddy’s Laboratories (-0.37%): Stock remained flat despite weak Q4FY26 results; revenue declined 11.6% YoY to ₹7,516 crore, while net profit plunged 86.2% YoY to ₹220 crore due to lenalidomide-related adjustments, asset impairments, and VAT provisions. The company highlighted pressure from lower North America sales and multiple one-time charges.
RVNL (+0.60%): Stock gained after the company emerged as the L1 bidder for a ₹221 crore railway signalling and telecom upgrade project from South East Central Railway.
Texmaco Rail & Engineering (+13.71%): Stock rallied sharply after the company secured a ₹4,045 crore order from Tsiko Africa Logistics and Barberry Holdings for freight wagons, locomotives, components, and maintenance services.
MTAR Technologies (+8.24%): Stock gained after the company raised FY27 revenue growth guidance to 80% and reported strong Q4FY26 results, with profit surging 223% YoY to ₹44 crore.
Sectoral Performance
Metals | Nifty Metal (+1.30%): Index gained with all constituents trading in the green after the government raised import duty on gold, silver, and other precious metals to 15% from 6%. Strong rally in commodity prices boosted sentiment.
Defence | Nifty India Defence (+2.10%): Index rebounded after three consecutive sessions of decline, led by gains in Bharat Electronics, MTAR Tech, and HAL amid strong earnings, upbeat guidance, and renewed buying interest in defence stocks.
IT | Nifty IT (-1.13%): Index crashed sharply with all constituents trading in the red after OpenAI’s Deployment Company launch raised fears of faster AI-led disruption across the IT services sector.
Auto | Nifty Auto (-0.97%): Index declined for the third consecutive session, dragged by heavy selling in M&M, Eicher Motors, and Bajaj Auto amid profit booking and weak broader market sentiment.
Market Insights
Technical Level: Nifty opened with a flat opening and moved higher in early trade before witnessing a sharp pullback, creating a trap zone near support at 23,260. The index later recovered strongly, forming a higher high near 23,580 resistance, and traded in a consolidation range during the latter half of the session.
Advance-Decline Ratio: Broader market remained positive with 1,960 stocks advancing against 1,300 declining stocks.
The Big Picture: Nvidia CEO Jensen Huang joined President Donald Trump’s China trip after being personally invited by Trump, signalling stronger U.S.-China business engagement and potential opportunities for American tech companies.
FII/DII Activity (May 12, 2026): DIIs remained strong buyers with ₹7,990 crore buying, while FIIs sold equities worth ₹1,959 crore.
Watch Out For Tomorrow
IPO Corner: Goldline Pharmaceutical SME IPO is set to close tomorrow, marking the final day for investors to place their bids.
Macro: China President Trump and President Xi Summit & UK GDP Growth Rate YoY Prel (Q1) data are scheduled tomorrow.
Index Watch: Nifty opened flat and traded in a range throughout the session, led by gains in metal and defence stocks. Overall sentiment remained negative amid limited recovery and continued FII selling. Immediate support is placed near 23,000, while resistance is seen around 23,750.
5-Day Course
Theme: How to Identify & Invest in the Right Mutual Funds
Day 2 – Identifying the Right Type of Mutual Fund
Different mutual funds are designed for different investor needs. Equity funds focus on growth, debt funds provide stability, and hybrid funds balance both risk and return.
Investors should select funds according to their comfort with market fluctuations and financial objectives.
Example:
Conservative Investor → Short Duration Debt Fund
Moderate Investor → Balanced Advantage Fund
Aggressive Investor → Mid-Cap or Small-Cap Equity Fund
Choosing the correct fund category is more important than chasing the highest recent returns.
Word of the day
Consolidation - A market phase where stocks or indices trade within a narrow range after a sharp rise or fall, showing temporary balance between buyers and sellers before the next move.