Q1 Earnings Lift Indian Stocks Despite FII Selling; Oracle Fin Soars

Indian equities navigated a mixed trend recently, propelled by robust first-quarter earnings from several companies. This positive momentum occurred even as Foreign Institutional Investors (FIIs) maintained their position as net sellers in the futures and options (F&O) segment.

FII Activity on July 22

FIIs demonstrated significant selling pressure, offloading Rs 10,525.73 crore in the index futures and options segments on July 22. Despite this outflow, the total F&O turnover for the day reached a substantial figure.

• FII Net Selling: Rs 10,525.73 crore
• Total F&O Turnover: Rs 82,47,627.59 crore

Top Q1 Performers

Leading the pack with exceptional performance was Oracle Financial Services Software, reporting a dramatic surge in its profit after tax. Gandhar Oil Refinery also posted remarkable growth, contributing significantly to the market’s positive sentiment.

• Oracle Financial Services Software Profit After Tax: Surged 132.22% to Rs 1,363.6 crore for the June 2026 quarter.
• Oracle Financial Services Software Sales: Advanced 83.77% to Rs 2,566.9 crore.
• Gandhar Oil Refinery Profit After Tax: Soared 582.00% to Rs 178.82 crore.
• Gandhar Oil Refinery Revenue: Jumped 113.44% to Rs 1,591.05 crore.

Broad-Based Earnings Strength

Beyond the top performers, several other companies showcased strong first-quarter results across various sectors. United Spirits, Bhageria Industries, Tanla Platforms, and Waaree Renewables all posted significant profit after tax increases.

• United Spirits Profit After Tax: Grew 51.55% to Rs 391.0 crore on revenues of Rs 6,113.0 crore.
• Bhageria Industries Profit After Tax: Leapt 199.78% to Rs 35.94 crore, driven by a 79.75% rise in sales.
• Tanla Platforms Profit After Tax: Climbed 53.42% to Rs 80.19 crore.
• Waaree Renewables Profit After Tax: Increased 32.29% to Rs 114.48 crore.

Sector-Specific Momentum

The automotive and engineering sectors also reported robust earnings, with key players demonstrating solid growth in both profit after tax and revenue. Schaeffler India, HEG, and CIE Automotive India contributed to this sectoral strength.

• Schaeffler India Profit After Tax: Increased 13.67% to Rs 336.73 crore.
• HEG Profit After Tax: Rose 52.51% to Rs 109.5 crore.
• CIE Automotive India Profit After Tax: Posted a 17.46% increase to Rs 148.91 crore.

Company-Specific Catalysts

Individual company news also influenced stock movements, with TVS Motor Company expanding its international footprint and Highway Infrastructure securing a significant new contract. These developments provided specific drivers for investor interest.

• TVS Motor Company: Shares gained following the launch of its TVS Raider in Egypt.
• Highway Infrastructure: Stock rose after securing a Letter of Award worth Rs 28.68 crore from the National Highways Authority of India (NHAI).

Mixed and Weaker Results

Not all companies reported strong quarters; some experienced mixed results or declines despite overall market optimism. Geojit Financial Services saw profit decline, while Waterways Leisure and Orient Green Power also reported significant dips in their profit after tax.

• Geojit Financial Services Net Profit: Declined 20.37% to Rs 14.28 crore.
• Waterways Leisure Profit After Tax: Fell 26.70% to Rs 27.34 crore.
• Orient Green Power Profit After Tax: Dipped from Rs 2.63 crore to Rs 0.41 crore.