JSW Cement, Honasa Consumer Lead Gainers; Engineers India, Central Bank, Sun TV Among Top Losers

Indian stock markets traded higher on Friday, May 22, supported by gains in private banking stocks and strong quarterly earnings despite concerns over rising crude oil prices amid uncertainty surrounding U.S.-Iran peace talks. The benchmark Nifty 50 rose 0.6% to 23,796.7, while the Sensex gained 0.7% to 75,710.03 in early trade.

JSW Cement Surges 12% After Strong Q4FY26 Earnings

JSW Cement, one of India’s fastest-growing cement manufacturers, emerged among the top gainers in the Nifty 500 index as its share price jumped 12% with heavy trading volumes. NSE volume surged to 5.97 crore shares against the 30-day average of 27.79 lakh shares.

The rally followed a strong Q4FY26 performance. Revenue increased 11% YoY to ₹1,895 crore, while EBITDA jumped 46% to ₹365 crore. EBITDA margins improved sharply to 19.3% from 14.6% last year. Net profit surged to ₹362 crore compared to ₹16 crore in Q4FY25.

For FY26, the company reported 12% revenue growth and 44% EBITDA growth, while turning profitable at the pre-tax level with PBT of ₹723 crore against a loss last year.

Honasa Consumer Gains 10% On Robust Results

Beauty and personal care company Honasa Consumer, which owns brands like Mamaearth, rallied 10% after reporting strong quarterly earnings. Trading volume rose sharply to 2.47 crore shares compared to the 30-day average of 10.69 lakh shares.

Q4FY26 revenue rose 23% YoY to ₹657 crore, driven by 30% volume growth. EBITDA surged 186% to ₹77 crore, while net profit increased to ₹69 crore from ₹25 crore a year ago.

For FY26, the company reported 16% revenue growth, 237% EBITDA growth, and 175% growth in net profit. It also announced a dividend of ₹3 per share, boosting investor sentiment.

Elecon Engineering Rises Despite Weak Quarter

Elecon Engineering, a manufacturer of industrial gears and material handling equipment, gained 7% despite weak Q4FY26 earnings. Volume doubled to 22.24 lakh shares from the 30-day average of 11.88 lakh shares.

Revenue declined 7% YoY to ₹746 crore due to delayed deliveries amid geopolitical headwinds. EBITDA fell 19% to ₹158 crore, while net profit dropped sharply to ₹6 crore from ₹146 crore last year.

Despite muted earnings, investors remained optimistic due to the company’s healthy order book of ₹1,292 crore and long-term industrial growth prospects. The movement appeared largely driven by market forces and value buying.

Engineers India Share Price Falls Over 6%

Engineering consultancy and EPC player Engineers India emerged among the top losers in the Nifty 500 index on May 22 as its share price declined 6.45% to ₹221.90. The stock witnessed heavy selling pressure with trading volume crossing 1.35 crore shares and turnover of ₹297 crore. The stock touched an intraday low of ₹213 during the session.

Central Bank of India Shares Slide 6% After OFS Announcement

Public sector lender Central Bank of India was another major loser in the Nifty 500 index as its share price fell 6.34% to ₹31.77. The bank provides retail, corporate, and agricultural banking services across India.

The sharp decline came after the Government of India announced an Offer for Sale (OFS) to divest up to an 8% stake in the bank. The announcement triggered concerns over increased supply of shares in the market, leading to selling pressure in the stock.

Trading activity remained extremely high with nearly 5 crore shares traded on the NSE during the session.

Sun TV Network Share Price Drops Nearly 6% On Weak Q4 Results

Media and entertainment company Sun TV Network slipped 5.88% to ₹488.25 after reporting weak Q4FY26 earnings. The company operates television channels, OTT platforms, FM radio stations, and film production businesses.

Investor sentiment turned negative after the company posted a 37% year-on-year decline in net profit for the March quarter. Weak advertising revenue growth and concerns around rising OTT competition also weighed on the stock.

The disappointing earnings performance triggered sharp selling pressure, making Sun TV one of the top losers in the Nifty 500 index on May 22.

Conclusion

Strong earnings and robust volumes drove gains in stocks like JSW Cement and Honasa Consumer, while company-specific concerns dragged Engineers India, Central Bank of India, and Sun TV lower. Stock-specific action continued to dominate the broader market despite global geopolitical concerns and elevated crude oil prices.