In this briefing: Primer: HG Infra Engineering Ltd (HGINFRA IN) - May 2026 HSIE Results Daily: Kotak Mahindra Bank, Avenue Supermarts, Bajaj FinServ, Jindal Steel PSP Projects Ltd - Strong Execution Momentum to Drive Revenue Growth Indiamart Intermesh Ltd - Weak Quarter; Growth Guidance Remains Intact National Aluminium Co Ltd (NALCO) - Largely Inline Q4; Rich Valuation Caps Material Upside 1. Primer: HG Infra Engineering Ltd (HGINFRA IN) - May 2026 HG Infra Engineering is a well-established road-focused EPC and HAM project developer, poised to benefit from India's continued focus on infrastructure development. The company has a strong track record of revenue and net income growth. The company is strategically diversifying its order book beyond its core roads and highways segment into railways, solar, and water infrastructure projects to mitigate concentration risk and capture new growth opportunities. Despite robust top-line growth, the company has consistently generated negative operating and free cash flows over the last three years, a key concern for investors.

In this briefing: HSIE Results Daily: Kotak Mahindra Bank, Avenue Supermarts, Bajaj FinServ, Jindal Steel PSP Projects Ltd - Strong Execution Momentum to Drive Revenue Growth Indiamart Intermesh Ltd - Weak Quarter; Growth Guidance Remains Intact National Aluminium Co Ltd (NALCO) - Largely Inline Q4; Rich Valuation Caps Material Upside Hindustan Unilever Ltd - Volume-Led Growth with Gradual Demand Recovery 1. HSIE Results Daily: Kotak Mahindra Bank, Avenue Supermarts, Bajaj FinServ, Jindal Steel Kotak Mahindra Bank: Kotak Mahindra Bank’s (KMB) Q4FY26 earnings beat estimates, on account of lower-than-expected provisioning and stable operating performance, alongside steady growth on both sides of the balance sheet Healthy loan growth (16% YoY; 3%QoQ) was driven by mortgages, business banking, and SME segments Deposit growth at 15% YoY (6% QoQ) was strong with CASA ratio clocking in at 43.3% (+196bps QoQ), driven by seasonality in CA balances Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only.

The funding also saw participation from IndiaMART and other investors.

Investigators tracking suspicious precursor chemical sales on IndiaMART and TradeIndia identified SR Innovations India in Kukatpally, run by Rafi Shaik.

Existing backers such as Blume Ventures, Analog Capital, Elev8, IndiaMART, and Kae Capital also participated.

Idfy wants to use the fresh funds to grow its business within India and outside. The company which helps banks in the onboarding business offers KYC services, fraud detection and other compliance related functions. Idfy had last raised around $17 million in 2024 from Indiamart, Elev8 and others.

Indian markets fell for the third consecutive session as financials and consumer stocks faced selling pressure. Eternal, MRPL, CreditAccess Grameen, and IndiaMart gained sharply, while Kalyan Jewellers and Tata Communications declined despite strong quarterly earnings.

Indian shares fell on Wednesday, extending losses after their steepest drop in over eight months in the previous session, as global trade and geopolitical woes continued to fuel foreign selling. The Nifty 50 fell 0.3% to 25,157.5 while the BSE Sensex eased 0.33% to 81,909.63, both logging fresh three-month lows. The indexes fell 1.4% and 1.3% on Tuesday. Asian stocks extended losses to a third session amid mounting tensions over President Donald Trump’s threats to acquire Greenland and reignite a trade war with the European Union. Weak domestic earnings, marked by misses from heavyweights such as Reliance Industries and ICICI Bank, and foreign outflows have also dragged Indian shares. Twelve of 16 major sectors logged losses. The small- and mid-caps lost 0.9% and 1.1%, respectively, to close at eight-month and three-month lows. “A wave of global turbulence has washed over domestic equities, dragging markets lower, not because of weakening fundamentals at home, but due to a dramatic shift in global risk appetite,” said Deven Choksey, managing director at DRChoksey FinServ. “As U.S. bond yields rise and geopolitical tensions escalate, fueled by fresh tariff threats, investors worldwide are racing to de-risk their portfolios, unleashing a renewed bout of foreign outflows from India”.

IndiaMART’s long-term growth strategy now involves prioritising AI-driven tools to enhance operational efficiency and supplier retention. The company is also exploring quick-commerce partnerships and stepping up efforts to deepen its footprint in southern India even as competition revs up.