EVs are punching above their weight in India’s car market. Though they account for just 4% of total passenger-vehicle sales, EVs contributed nearly one-fifth of the growth in Fiscal 2026, helping Mahindra & Mahindra Ltd. and Tata Motors PV Ltd. overtake Hyundai to claim the No.2 and No.3 rankings.
EV sales surged 84%, adding over 91,000 units, with both domestic players benefiting the most due to their strong portfolios. For Mahindra and Tata, EVs drove up to 30% of incremental growth.
The trend highlights how EVs are becoming a key growth lever even as global momentum slows. Maruti Suzuki India Ltd. and Hyundai Motor India Ltd. have been slower to scale, but plan to ramp up.
As competition intensifies, EV strategy could increasingly decide who gains market share in India’s evolving auto landscape. Read more.
EARNINGS WATCH
TCS Q4 Results: Revenue of India’s largest IT services firm rose 5.4% over the previous three months to Rs 70,698 crore in the quarter ended 31 March 2026. In constant currency terms, it was up 1.2% sequentially. Read more.
Revenue up 5.4% QoQ at Rs 70,698 crore
EBIT up 5.8% QOQ at Rs 17,870 crore
EBIT margin up 10 bps QoQ at 25.3%
Net profit up 29% QoQ at Rs 13,718 crore
MARKET WATCH
📉 Markets slip on global jitters: Indian equities came under selling pressure as fading hopes of an Iran ceasefire and rising crude prices reignited inflation concerns, triggering a gap-down open and weak close.
🔻 Investor wealth erodes: Nifty 50 dropped 222 points (🔻0.93%) to 23,775, while Sensex lost 931 points to end at 76,631. Bank Nifty also slid sharply, with investor wealth shrinking by over ₹90,000 crore in a single session.
🔗 Key highlights from India’s stock market today.
BEST OF MINT
Why US bond yields at 4.28% won’t unlock a forex wave into India
Phoenix Mills offers a cheaper retail proxy. Real estate in the risk
In tomorrow’s print edition:
Mint Explainer: Inside Anthropic’s Project Glasswing
Deals Corner: Cycle Pure buys into Satvik for online ‘spiritual’ play
Mint M2M: NMDC’s rally may be about more than iron-ore price hikes
SNEAK A PEEK
Long Story, a much-loved Mint feature, is published every weekday. Before the next piece hits the stands, here’s your exclusive glimpse into what’s brewing on our desk. Catch the story in tomorrow’s print edition.
The hard reset
The ban on real-money gaming in October 2025 brought a booming industry to a halt. Six months on, the surviving companies are testing new products. Do they have viable and scalable business models? Read on.
MINT MONEY
Investing in times of War
Markets hate uncertainty more than war itself. Geopolitical crises often trigger sharp sell-offs as investors price in worst-case scenarios, but history shows recoveries follow once risks become clearer. For India, crude oil is the key vulnerability, shaping inflation and growth. For investors, the lesson is simple: stay disciplined, stay diversified. Read more.