Ola Electric, Tejas Networks, LatentView Jump; Jain Resource Recycling, Astral and KEC International Fall

Indian benchmark indices traded higher on Tuesday after US President Donald Trump said a planned attack on Iran had been paused following a peace proposal from Tehran, raising hopes of easing geopolitical tensions in the Middle East.

The development brought relief to global markets, especially oil-importing nations like India, which have faced pressure from rising crude prices and currency weakness since the conflict escalated earlier this year.

At around 9:51 AM IST, the NIFTY was up 0.23% at 23,703.85, while the SENSEX gained 0.31% to 75,549.57. The rupee traded flat after hitting a record low in the previous session.

Among individual stocks, Ola Electric, Tejas Networks and LatentView Analytics emerged as the top gainers in the Nifty 500 index, while Jain Resource Recycling, Astral and KEC International were among the major losers.

Ola Electric Surges 9%

Shares of Ola Electric rose nearly 9% with strong trading volumes. The company manufactures electric two-wheelers and battery technologies for India’s EV market.

Volumes on the NSE surged to 7.21 crore shares against the five-day average of 4.79 crore shares.

There was no immediate company-specific trigger for the rally. The gains were largely driven by expectations that rising petrol prices could accelerate electric two-wheeler adoption in India. Investors also reacted positively to improving vehicle registration data and optimism around the company’s future growth.

According to VAHAN data, Ola Electric’s vehicle registrations increased to 12,166 units in April from 10,133 units in March.

The company had recently announced the launch of its in-house developed Lithium Iron Phosphate (LFP) battery cell in the new 46100 format, which is expected to improve cost efficiency and scalability. Traders also remained active ahead of the company’s Q4FY26 earnings announcement scheduled for May 20.

Tejas Networks Gains 9% After Q4 Improvement

Shares of Tejas Networks climbed around 9% after the Tata Group telecom equipment company reported sequential improvement in its Q4FY26 performance.

Tejas Networks develops optical and broadband networking products used by telecom operators and internet service providers.

Revenue rose 8% quarter-on-quarter to ₹333 crore, while EBITDA loss narrowed to ₹219 crore from ₹239 crore in the previous quarter. However, net loss widened to ₹211 crore from ₹197 crore.

The company’s order book improved significantly to ₹1,514 crore compared to ₹1,329 crore in Q3FY26 and ₹1,019 crore in the year-ago quarter.

Management said a substantial part of the order book is expected to convert into revenue in FY27. Investors largely focused on improving operations and future growth visibility despite continued losses.

LatentView Analytics Rallies 8% on Strong Earnings

LatentView Analytics shares jumped nearly 8% after the company posted strong Q4FY26 earnings and benefited from a rebound in IT stocks.

The company provides data analytics, artificial intelligence and digital transformation services to global enterprises.

Revenue increased 24% year-on-year to ₹289 crore, while EBITDA rose 23% to ₹68 crore. Net profit grew 7% to ₹55 crore.

For FY26, the company crossed the ₹1,000 crore revenue milestone, reporting revenue growth of 25%, EBITDA growth of 21% and profit growth of 16.5%.

Management highlighted continued investments in artificial intelligence and Databricks Centres of Excellence while maintaining profitability, which boosted investor confidence.

Jain Resource Recycling Crashes 18%

Jain Resource Recycling was among the worst performers in the Nifty 500 index, falling nearly 18%.

The company operates in battery recycling and resource recovery businesses.

The sharp decline appeared to be driven by profit booking and concerns around cash flows despite strong headline earnings. Reports suggested investors turned cautious after the company reported a large operating cash outflow even as profits remained strong.

The stock also witnessed heavy trading volumes, indicating strong selling pressure after a sharp rally in recent months.

Astral Declines Nearly 6%

Shares of Astral fell close to 6% amid weak market sentiment and technical selling pressure.

Astral manufactures pipes, adhesives, paints and building material products used in residential and industrial construction.

There was no major corporate trigger behind the decline. Market reports suggested the stock has been trading below key technical levels, leading to continued weakness and underperformance compared to broader markets.

KEC International Slips on Weak Q4 Earnings

KEC International shares declined more than 3% after weak Q4FY26 results.

The company operates in infrastructure engineering and construction across power transmission, railways, civil infrastructure and cables.

Net profit declined 28% year-on-year to ₹193 crore, while revenue fell 7% to ₹6,390 crore. EBITDA margins also weakened to 7% from 7.8% a year ago.

Weak execution, margin pressure and supply-chain disruptions weighed on investor sentiment. The stock has also corrected sharply from its 52-week highs.

Conclusion

Indian markets traded higher on improving global cues, but stock-specific action remained strong.

Ola Electric rallied on optimism surrounding EV adoption, Tejas Networks gained after operational improvement and a stronger order book, while LatentView Analytics surged on robust earnings and AI-driven growth momentum.

On the losing side, Jain Resource Recycling declined sharply amid cash flow concerns, Astral remained weak due to technical selling pressure, and KEC International extended losses after disappointing quarterly results.