Coal India Slides On OFS Announcement; Landmark Cars, Gandhar Oil Gain After Q4 Results

Some stocks exhibited significant volatility in the early hours of trading on May 28 on account of earnings, orders, and governmental news. Coal India shares fell nearly 4% after the Government of India announced an offer for sale (OFS) to divest up to a 2% stake in the state-run miner. The OFS includes a base issue of 1% equity along with an additional 1% green shoe option in case of oversubscription. The floor price has been fixed at ₹412 per share.

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At around 9:45 am, Coal India shares were trading at ₹440.45 on the NSE, down 3.86% from the previous close. The OFS for institutional investors opened on May 28, while retail investors can bid on May 29. The proposed transaction is expected to fetch nearly ₹5,000 crore for the government.

Earnings Drive Gains In Select Stocks

Landmark Cars shares gained around 3% after the company reported a sharp increase in fourth-quarter earnings. Consolidated net profit rose to ₹15.03 crore in Q4FY26 from ₹1.42 crore in the corresponding period last year. Revenue from operations increased 17.2% year-on-year to ₹1,278.5 crore compared with ₹1,091.2 crore.

Gandhar Oil Refinery India shares rallied nearly 6% following a strong March quarter performance. The company posted a 248.6% jump in consolidated net profit to ₹40.7 crore against ₹11.7 crore a year earlier. Revenue rose 13.7% to ₹1,093.4 crore from ₹961.7 crore in the same quarter last year.

Ram Ratna Wires shares climbed about 5% after the company reported robust earnings growth. Consolidated net profit surged 116.8% year-on-year to ₹39 crore in Q4FY26, while revenue increased 83.2% to ₹1,752.9 crore from ₹956.7 crore.

Order Wins Support Infra And Renewable Energy Stocks

HG Infra Engineering shares edged higher after the company said it had emerged as a qualified bidder for a substation construction project in Uttar Pradesh. The contract, awarded by REC Power Development and Consultancy, is valued at ₹45 crore and involves the construction of 220/132/33 kV AIS substations at Ranipur in Mau and Chunar in Mirzapur.

Saatvik Green Energy shares also traded higher after the company secured a solar module supply order worth ₹171.45 crore from an independent power producer and EPC player.

Corporate Triggers Remain In Focus

Stock specific movements persisted as investors monitored the quarterly results, order updates, and government selling activities. Many mid-cap and sector specific stocks saw increased volatility after company announcements.

As the earnings season is drawing to a close, market watchers are anticipated to keep an eye on earnings quality, top-line numbers, and company commentary for clues on sector performance and outlook.