On Monday, July 20, during the afternoon session, losses in private banking stocks like HDFC Bank and Axis Bank caused the Indian benchmark indexes, SENSEX and NIFTY50, to trade in negative territory.
Due to the United States’ strategically targeted military attacks against Iran on Sunday, which destroyed military command centers, air defence and coastal surveillance sites, maritime capabilities, missile and drone launch sites, and communications networks, investor sentiment was also cautious as crude oil prices surged over $91 per barrel (bbl) in international markets.
The SENSEX reached an intraday low of 77,368.29 after falling as much as 1%. The NIFTY50, meanwhile, reached the session’s low of 24,135.85.
At 1:02 PM, the NSE’s NIFTY50 was at 24,181.20, down 153.10 points, or 0.63%, while the S&P BSE SENSEX down 617.55 points, or 0.79%, to trade at 77,533.90.
Stocks in banks
After several lenders released their June quarter (Q1 FY27) earnings over the weekend and after market hours on Friday, banking stocks continued to be a focus on Monday, July 20.
Heavyweight lenders HDFC Bank and Axis Bank saw their stocks plummet more than 4% following their quarterly reports, causing the NIFTY Bank index to drop more than 1.5% in early trading.
However, as investors concentrated on strong Q1 results for the year that ended in 2026–2027, government-owned banking stocks like Punjab National Bank, Canara Bank, and Union Bank drove the sectoral benchmark index, Nifty PSU Bank, up 1.7%.
The rise on Monday follows Punjab National Bank’s 213% increase in net earnings over the weekend, which was mostly supported by the institutional lender’s interest revenue, a decrease in total expenditures, and an improvement in margin.
While the private bank’s earnings fell short of market expectations, investors are still fixated on PSU Bank’s better-than-expected performance in the April to June quarter results of the fiscal year ending 2026–2027.
HDFC Bank Following the publication of the lender’s June quarter earnings (Q1 FY27) on Saturday, HDFC Bank shares fell as high as 5.41% to ₹777.50 per share on the National Stock Exchange (NSE) on Monday, July 20.
The largest private sector lender in the nation announced on Saturday that its standalone profit for the June quarter increased by 5% to ₹19,060 crore.
In the same time last year, it had a net profit of ₹18,155 crore.
But according to a regulatory filing from HDFC Bank, the bank’s overall revenue for the reviewed quarter fell to ₹92,184 crore from ₹99,200 crore during the same time last year.
The Axis Bank
Even though Axis Bank’s standalone net profit after tax (PAT) increased 22.5% to ₹7,114 crore in the June quarter of the fiscal year that ended in 2026–2027, compared to ₹5,806 crore in the same period last year, the bank’s stock fell 6% to reach the session’s low of ₹1,249.10 per equity share on the NSE.
According to the financial documents, the private sector lender’s net interest income (NII) increased 9.4% to ₹33,985 crore in the first quarter of the current fiscal year from ₹31,063 crore in the same time last year.
Punjab National Bank
According to NSE filings, the bank reported a 213% increase in its standalone net profits at ₹5,253 crore in the first quarter of FY27, compared with ₹1,675 crore in the same period a year earlier. As a result, shares of Punjab National Bank (PNB) surged 5.6% YoY to ₹111.68 a unit.
According to the records, PNB’s net interest income (NII) increased by 3% to ₹32,897 crore in the June quarter of the current fiscal year, up from ₹31,963 crore in the same quarter of the prior fiscal year.
Tata Technologies
After reporting a 11.47% quarter-over-quarter (QoQ) fall in its consolidated net profit to ₹180.75 crore in Q1 FY27 from ₹204.17 crore in the fourth quarter of FY26, Tata Technologies’ shares fell 3.4% to an intraday low of ₹732.05 per unit.
In the June quarter of FY26, Tata Tech’s operating revenue increased 33.8% year over year to ₹1,664.63 crore from ₹1,244.29 crore during the same time in the prior fiscal year. It increased 5.9% QoQ from ₹1,572.22 crore during the previous quarter.
Wabag VA Tech
On Monday, July 20, VA Tech Wabag shares increased by as much as 5.4% to reach an intraday high of ₹2,098.70 per share following the company’s announcement that it had landed a sizable order.
The Bangalore Water Supply and Sewerage Board (BWSSB) has given the water treatment firm an order to design, construct, and run sewage treatment plants with capacity of 60 MLD at Bellandur and 100 MLD at Byramangala. The construction of a 25 MLD tertiary treatment plant (TTP) in Byramangala is another aspect of the project.
In a regulatory filing, the business stated that the scope included both biogas-based power production and the design, engineering, procurement, construction, and commissioning (EPC) of the wastewater treatment facilities. The activated sludge process combined with a biological nutrient removal system will be the foundation of the sewage treatment plants (STP).
Larsen and Toubro
Larsen & Toubro’s (L&T) shares was trading. The company claimed to have earned massive orders for its metals and minerals business unit in a regulatory filing. According to the company’s order categorisation, the order size is anticipated to be between ₹10,000 crore and ₹15,000 crore.
Reliance Industries (RIL), the most valuable company in India, reported record quarterly core profit and EBITDA for the June quarter, driven by strong results across its telecom and oil-to-chemicals businesses. RIL shares surged as much as 1.4% to reach an intraday high of ₹1,345.90 per share.
The oil-to-telecom company stated in a statement that its consolidated revenue increased 25.4% year over year (YoY) to ₹3.12 lakh crore.
Engines from Swaraj
Swaraj Engines shares surged 3% to reach an intraday high of ₹3,830 per on the NSE after the earnings.
In the first quarter of FY27, it recorded a net profit of ₹56 crore, up 11% from ₹50 crore in the same time of the previous fiscal year.
Compared to ₹484 crore in Q1 FY26, the company’s operating revenue increased 21% year over year (YoY) to ₹588 crore in the April–June quarter.
