On Tuesday, India's share market was in a state of fluctuation during early trade. This instability was largely due to the uncertainty surrounding the results of the forthcoming general elections and cautionary sentiments in anticipation of significant U.S. inflation data expected to be released this week.
The S&P BSE Sensex, a standard benchmark on India's stock market, remained relatively stable at 72,786, despite an initial surge in the share value.
The NSE Nifty index, another broad metric used to measure stock performance, was marginally ahead at 22,105. This uptick was primarily facilitated by the automotive and metal stocks.
Jindal Steel and Power saw its shares rise by 3.2% subsequent to a 100% growth in consolidated net profit reported for the quarter ending in March.
Shriram Finance shares experienced a 2% growth after the company decided to exit the housing finance business.
The shares of Hero MotoCorp saw a 2.2% jump after the company joined the OndC network in a bid to expand its consumer reach and better its services.
Vedanta's shares also grew by 1.2% following rumours of its imminent fund raise.
Cochin Shipyard stocks sharply rose by nearly 8% on the news of a large order, valued between Rs 500 to Rs 1,000 crore, won from a European client.
Rail Vikas Nigam also benefitted from share hike of 3.2% following its securing of a Rs. 239-crore order from the Southern Railway situated in Tamil Nadu.
Meanwhile, DLF saw a slight increase in its share price in reflection of its 62% increase in net profit for the fourth quarter.
Bharti Airtel's shares rose by half a percent, driven by the anticipation of positive earnings report.
Conversely, Zomato's shares fell by about 2% after the company had to write off an investment worth Rs 39 crore in its fintech subsidiary, Zomato Payment Private Limited.