Its listless session for the markets in afternoon trade after a reasonable recovery from early lows. The Nifty 50 reclaimed the 23,600 mark intra-day and is hovering around that level. The BSE Sensex too bounced back more than 500 points from intra-day lows.
However, the broader market mood remained cautious amid elevated crude oil prices, weak rupee and continuing geopolitical uncertainty. Individual stocks saw significant price action.
Here are the top movers and shakers at this hour –
Hindalco Industries
Hindalco Industries Ltd. share price rallied as much as 3.5% on May 20 after Novelis, its wholly-owned subsidiary, released quarterly results overnight.
Novelis reported a consolidated net loss of $84 million for the quarter ended March 31, 2026, primarily due to the financial impact of fire incidents at its Oswego plant in New York.
The company stated that pre-tax losses linked to the Oswego fire incidents stood at nearly $630 million. However, despite the exceptional hit, consolidated net sales increased to $4.78 billion from $4.58 billion reported in the corresponding period last year.
Novelis said higher aluminium prices partly offset weaker shipments. Total rolled product shipments declined 12% to 844 kilotonnes because of production disruptions at Oswego and softness in speciality markets amid geopolitical conditions.
Management commentary, however, appeared to support sentiment. Novelis said the Oswego restart could happen within the next few weeks, ahead of its earlier estimate of end-June. The company also reiterated focus on commissioning its aluminium plant in Bay Minette.
Grasim Industries
Grasim Industries Ltd. share price slipped nearly 1.5% on May 20 ahead of its March quarter earnings announcement later in the day.
The stock remained under pressure despite strong Q3FY26 numbers reported earlier. In the December quarter, consolidated net profit rose 28.76% year-on-year to Rs 2,232.95 crore from Rs 1,734.16 crore.
Revenue from operations increased 25.25% to Rs 44,311.97 crore during Q3FY26. Consolidated EBITDA stood at Rs 6,215 crore, rising 33% year-on-year, supported by operating leverage and cost efficiencies across businesses.
The company’s total expenses increased 23.36% to Rs 41,270.21 crore during the quarter. Revenue from the cellulosic fibre business also improved more than 9% year-on-year to Rs 3,934.09 crore.
Karnataka Bank
Karnataka Bank Ltd. share price jumped over 5% on May 20 after the private sector lender reported strong Q4FY26 earnings along with improvement in profitability and asset quality metrics.
The bank reported net interest income of Rs 843 crore for the March quarter, up 7.8% from Rs 780 crore in the corresponding period last year. The rise came largely due to lower interest expenses as gross interest income remained broadly unchanged year-on-year.
Operating profit surged 64% to Rs 615 crore from Rs 343 crore reported a year ago. Employee benefit expenses sharply declined more than 46% to Rs 279 crore compared to Rs 346 crore in Q4FY25, which supported margin expansion during the quarter.
Asset quality also improved steadily. Gross non-performing asset ratio improved to 2.78% from 3.08% a year ago, while net non-performing asset ratio narrowed to 0.98% from 1.3%. Net interest margin improved to 3.07% from 2.98%.
The combination of improving return ratios, better margins and lower stress on the loan book kept buying interest active in the stock through midday trade.
Ola Electric
Ola Electric Mobility Ltd. share price gained around 2% on May 20 ahead of the company’s March quarter earnings announcement later in the day.
The stock witnessed buying support despite continued pressure in the broader electric vehicle segment over recent months.
Bharat Petroleum Corporation
Bharat Petroleum Corporation Ltd. share price declined more than 1.5% on May 20 after the state-run oil marketing company reported muted March quarter earnings because of a large impairment charge linked to upstream investments.
The company’s standalone net profit stood at Rs 3,191.49 crore for Q4FY26. In the year-ago period, BPCL had reported profit after tax of Rs 7,545.27 crore.
The pressure on earnings came after Bharat PetroResources Ltd, the company’s wholly-owned upstream subsidiary, recognised an impairment loss of Rs 4,349.13 crore on investments in domestic and overseas oil and gas blocks.
The company stated that the impairment was triggered by changes in the prospects of certain upstream blocks. Following the adjustment, the gross carrying value of upstream investments fell from Rs 15,426.37 crore to Rs 11,313.83 crore.
Despite the weak quarterly comparison, BPCL’s full-year FY26 profit rose 75% to Rs 23,303.22 crore against Rs 13,275.26 crore reported in FY25.