Stock Market June 1, 2026, Preview:IndiGo Results, Vedanta’s Credit Rating Upgrade, NMDC's Strong Q4, Patanjali Foods' Record Revenue and Lupin's US FDA Nod

Mumbai, June 1: Investors in India will be occupied with IndiGo results, Vedanta’s credit rating upgrade, NMDC posting strong Q4 results and Patanjali reporting record revenue. Here’s what you should track.

IndiGo Swings to ₹2,537 Crore Loss in Q4 as Forex Charges and Fuel Costs Bite; Cuts 250 Flights Daily

Shares of InterGlobe Aviation (NSE: INDIGO, ₹4,405), the parent of India’s largest airline IndiGo, are likely to remain under pressure when markets open on Monday after the carrier reported a sharp swing to a consolidated net loss of ₹2,536.9 crore for the March quarter a dramatic reversal from the net profit of ₹3,067.5 crore it had posted in the same period last year. The quarterly loss was driven by a combination of exceptional charges of ₹250 crore, elevated foreign exchange losses on dollar-denominated lease liabilities as the rupee remained under pressure, and persistently high aviation turbine fuel costs that squeezed operational margins even as revenues rose 1.3% year-on-year to ₹22,438.4 crore.

For the full financial year FY26, the picture was equally sobering: InterGlobe Aviation reported a net loss of ₹2,393.6 crore against a profit of ₹7,258.4 crore in FY25 a staggering turnaround that reflects the combined impact of aircraft groundings, fuel cost inflation, and a structurally higher cost base from aircraft lease obligations. Revenue from operations for FY26, however, grew 5.15% to ₹84,961.9 crore, and the company’s operating cash flow held up at ₹23,469.9 crore, providing a measure of comfort on liquidity even as the bottom line bled. Compounding the earnings concern, IndiGo and Air India together announced plans to cut approximately 250 daily domestic flights starting June a capacity reduction that reflects both the fuel cost headwinds and signs of softening summer travel demand which is likely to weigh further on investor sentiment heading into Monday’s open. The stock had already shed 3.28% on Friday ahead of the results, and on a year-to-date basis, IndiGo shares are down 14%.

Vedanta Hits Highest Domestic Credit Rating Since 2014 After ICRA Upgrades to AA+; Shares Touch 52-Week High

Vedanta Group received a significant vote of confidence from credit markets on Friday when rating agency ICRA, a Moody’s affiliate, upgraded the long-term ratings of Vedanta Limited (NSE: VEDL, ₹360.70) and Vedanta Aluminium Metal Limited two of the largest entities to emerge from the group’s recent demerger to AA+ with a Stable outlook, marking the conglomerate’s highest domestic credit rating in more than a decade and its strongest since 2014. The upgrade reflected what ICRA described as a material improvement in Vedanta’s credit profile during FY26, driven by stronger profitability across its aluminium, zinc and oil and gas businesses, improved liquidity, and significant refinancing progress that drove average interest costs down by nearly 200 basis points during the year.

ICRA also upgraded Talwandi Sabo Power Limited set to be listed as Vedanta Power Limited to AA-/Stable from A+/Watch Developing, and reaffirmed the group’s short-term rating at the highest category of A1+. Critically, the rating action followed the conclusion of Vedanta’s demerger, which became effective May 1, 2026, and which ICRA said would create focused, independently scalable businesses with stronger capital allocation discipline and improved financial flexibility. The Vedanta upgrade also came on the heels of rating improvements from S&P, Moody’s and Fitch for Vedanta Resources, the UK-based holding company, in the past two months a convergence of global and domestic rating upgrades that signals a broad-based rehabilitation of the group’s financial credibility. Shares of Vedanta Limited responded immediately, climbing 1.72% to a 52-week high of ₹360.70 in early Friday trade, and investors will be watching whether that momentum carries into Monday’s session following the weekend confirmation of the upgrade.

NMDC Posts Record FY26 Revenue of ₹32,070 Crore; Q4 Net Profit Jumps 36% to ₹2,017 Crore; Recommends ₹1 Final Dividend

State-owned iron ore mining giant NMDC (NSE: NMDC, ₹89.10) delivered a strong set of numbers for Q4 FY26, reporting a 36% year-on-year surge in consolidated net profit to ₹2,017.57 crore up from ₹1,483.18 crore in the corresponding period of the previous year as robust iron ore production and sales volumes drove a sharp expansion in the top line. Revenue from operations for the quarter surged 62% to ₹11,343.13 crore from ₹7,004.59 crore a year ago, with iron ore production rising 22% year-on-year to 16.27 million tonnes and sales volumes climbing 21% to 15.30 million tonnes operational metrics that underscored the company’s sustained momentum heading into the new financial year.

At the EBITDA level, the quarter was equally impressive: EBITDA grew 21% to ₹3,072 crore, though margins softened slightly, reflecting higher operating costs that the company is managing against a backdrop of elevated royalty obligations and the pending Karnataka Mineral Rights Tax Bill a contingent liability of ₹15,481.72 crore related to the bill, which is awaiting presidential assent, remains a key risk flagged by auditors in the results filing. For the full financial year FY26, NMDC crossed a milestone with turnover growing 33% to an all-time high of ₹31,554 crore, while net profit for the year came in at ₹7,414.69 crore. The Board also recommended a final dividend of ₹1 per share for FY26, taking total dividends for the year to ₹3.50 per share. Separately, NMDC Steel Limited, the group’s steel manufacturing subsidiary, also turned profitable for the full year in FY26 posting a net profit of ₹59 crore against a loss of ₹2,374 crore in FY25 a turnaround that will be closely watched by investors tracking the steel value chain.

Patanjali Foods Q4 Profit Surges 46% to ₹524 Crore on Edible Oil Surge; Crosses ₹40,000 Crore Revenue Milestone

Patanjali Foods (NSE: PATANJALIFO, ₹457.45), the edible oils and FMCG arm of Baba Ramdev’s Patanjali group, reported a standout set of quarterly earnings on Saturday, with consolidated net profit jumping 46% year-on-year to ₹523.97 crore for the March quarter up from ₹358.51 crore in Q4 FY25. Revenue from operations for the quarter rose 17.28% to ₹11,155.60 crore, with the edible oil division the company’s biggest business leading the charge with a 23.28% year-on-year revenue growth to ₹8,324.11 crore, driven by higher volumes and improved market demand. The FMCG segment contributed ₹2,890.46 crore to quarterly revenues, reflecting healthy demand across key product categories.

For the full financial year FY26, Patanjali Foods crossed the ₹40,000 crore revenue threshold for the first time in its history, with annual revenue from operations reaching ₹40,169.58 crore a 19% year-on-year increase that marks a significant milestone for the Haridwar-headquartered company. Full-year net profit grew 39.5% to ₹1,814.47 crore. However, investors will note that margin pressures remained a feature of the quarter: the gross profit margin stood at 12.47%, the EBITDA margin (excluding exceptional items) came in at 4.48%, and the PBT margin was 2.10% all reflecting the impact of elevated raw material and packaging costs that continue to weigh on profitability even as revenues surge. CEO Sanjeev Asthana attributed Q4’s performance to strong domestic demand, post-GST normalisation channel restocking, and resilient rural demand but the margin story will be the key variable analysts dissect when the stock opens on Monday.

Lupin Bags US FDA Nod for Generic Sutab, Wins 180-Day Exclusivity on a $132.8 Million Market

Mumbai-headquartered pharmaceutical major Lupin (NSE: LUPIN, ₹2,285.40) announced on Thursday that it has received final approval from the US Food and Drug Administration for its Abbreviated New Drug Application (ANDA) for Sodium Sulfate, Magnesium Sulfate, and Potassium Chloride Tablets, 1.479 g/0.225 g/0.188 g the generic equivalent of Sutab Tablets, manufactured by Azurity Pharmaceuticals. Critically, Lupin is the exclusive first-to-file applicant for this product, making the company eligible for a 180-day generic drug exclusivity period a commercially significant window during which Lupin will be the sole generic competitor to a branded product that had estimated annual US sales of $132.8 million as of March 2026, according to IQVIA data.

The approved tablets are indicated for cleansing the colon as a preparation for colonoscopy in adult patients, addressing a large and growing segment of the gastrointestinal drug market in the United States. Manufacturing will take place at Lupin’s Nagpur facility in India one of the company’s key production hubs for the US generics market. The approval is a particularly meaningful addition to Lupin’s US portfolio at a time when the company has been aggressively expanding its presence in complex generics and specialty formulations to offset the pricing pressure that has affected the standard generics market. Investors will be tracking Lupin shares closely on Monday: US FDA approvals with first-to-file exclusivity are among the most material near-term catalysts for pharmaceutical stocks, and with $132.8 million in addressable annual sales, this approval has the potential to be a meaningful revenue driver for the company over the next 18 months.