10 Stocks That Every Trader Must Track on May 4 as Q4 Results, Auto Data and Election Outcomes Collide

May 4 is one of those rare market days where three separate triggers land at once: Q4 FY26 results from 45 companies, April auto sales data from Tata Motors, and assembly election outcomes from West Bengal, Tamil Nadu, Kerala, Assam and Puducherry. For anyone building a watchlist, the stocks to watch today list is longer and more event-driven than a typical Monday.

Crude oil has also pulled back sharply from its $126 four-year high to below $102, adding a macro tailwind that most of these stocks to watch today will benefit from in different ways. Here is the full breakdown, stock by stock, with actual Q4 numbers where results are already out and previews for those reporting today.

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Quick Snapshot of the 10 Stocks to Watch Today

BHEL: 44 Percent Rally in April and Results Today

BHEL is the headline name in the stocks to watch today list. The board meets on May 4 to approve Q4 FY26 and full-year results and to consider a final dividend. Analyst estimates for Q4 FY26 are wide: JM Financial projects revenue of Rs 10,028 crore (up 12% YoY) with EBITDA of Rs 1,423 crore (up 71% YoY) and margin at 14.2%. Nuvama estimates revenue of Rs 11,136 crore (up 23.8%) with PAT of Rs 637 crore (up 26.5%).

Kotak Mahindra Bank: Clean Results but NIM Story Needs Watching

Kotak Mahindra Bank results are already out and are among the better prints in the banking sector this season, making it one of the important stocks to watch today for reaction. Standalone PAT rose 13% YoY to Rs 4,027 crore in Q4 FY26 against Rs 3,552 crore in Q4 FY25. NII grew 8.1% to Rs 7,875 crore. The quality story is strong: gross NPA fell from 1.42% to 1.20%, net NPA from 0.31% to 0.25%. Provisions dropped 43% YoY to Rs 516 crore.

Adani Enterprises: Do Not Read the Q4 Loss at Face Value

Adani Enterprises is on the stocks to watch today list because of what the Q4 numbers look like versus what they actually mean. The company reported a Q4 consolidated net loss of Rs 221 crore (attributable to owners), a sharp reversal from a Rs 3,845 crore profit in Q4 FY25. Revenue from operations rose 20% to Rs 32,439 crore.

JSPL: Biggest Turnaround in the Metal Space This Quarter

JSPL is one of the most dramatic reversal stories in the stocks to watch today list. The company posted Q4 consolidated PAT of Rs 1,041 crore against a loss of Rs 304 crore in Q4 FY25 and Rs 189 crore in Q3 FY26. Revenue rose 25% YoY to Rs 16,484 crore. EBITDA jumped 66% sequentially to Rs 2,647 crore. EBITDA margin improved to 18.1% from 17.2% YoY.

Indus Towers: Steady Compounder but Margin Compression Worth Noting

Indus Towers is in the stocks to watch today list for reaction to a Q4 that was broadly in line but not a beat. Revenue came in at Rs 8,101 crore (up 4.8% YoY), EBITDA at Rs 4,464 crore with a margin of 55.1%, and PAT at Rs 1,793 crore (up 0.8% YoY). Full-year EBITDA fell 13.8% YoY on higher power and fuel costs, and FY26 PAT dropped 28.1% YoY.

Five More Stocks to Watch Today in One Line Each

Tata Motors PV is on the stocks to watch today radar as April commercial vehicle sales jumped 28% YoY to 34,833 units. Q4 full results due May 5. JLR remains the earnings wildcard given a 14.5% sales drop in Q4 from its cyber incident recovery period.

Eternal (Zomato’s parent) reported Q4 PAT up 346% YoY to Rs 174 crore, revenue up 196% to Rs 17,292 crore as Blinkit’s contribution scaled dramatically. Among the stocks to watch today, Eternal will be watched for opening reaction and whether the quick commerce growth rate is seen as sustainable.

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What the Broader Market Setup Means for These Stocks Today

The Nifty 50 heads into this session at 23,997, with Brent crude having pulled back to near $102 from a four-year high of $126. That crude correction is directly positive for several stocks to watch today: BHEL benefits through improved industrial gas availability prospects, Tata Motors through input cost relief, and Ambuja Cement through lower fuel and logistics costs. JSPL is a direct beneficiary of a stable steel pricing environment.

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Conclusion

This is one of the most event-rich sessions of the Q4 FY26 earnings season. The stocks to watch today list of 10 covers a PSU capital goods giant reporting results (BHEL), a clean private bank beat (Kotak), a headline-confusing but operationally fine flagship (Adani Enterprises), a metals turnaround (JSPL), steady telecom infrastructure (Indus Towers), strong auto data (Tata Motors), two upcoming results (Ambuja, Tata Tech), and two already-impressive beats (Waaree, Eternal).

Disclaimer: Investment in the share market is subject to market risk. This article is for informational and educational purposes only and does not constitute investment advice. All financial data is sourced from publicly available NSE/BSE filings, company investor presentations, CNBC, Business Standard, Business Today, and analyst research reports. Verify all data before investing. Consult a SEBI-registered financial advisor before making any investment decisions.

Frequently Asked Questions

Which are the most important stocks to watch today on May 4 2026?

The most important stocks to watch today are BHEL (Q4 results and dividend announcement today), Kotak Mahindra Bank (Q4 PAT up 13% to Rs 4,027 crore, market reaction due), Adani Enterprises (Q4 net loss context), JSPL (Q4 turnaround of Rs 1,041 crore profit vs loss of Rs 304 crore last year), and Tata Technologies (Q4 results today, BMW JV in focus). Plus Ambuja Cement for fund raise news.

What are the BHEL Q4 FY26 results expectations?

BHEL is the centrepiece of the stocks to watch today list. JM Financial estimates Q4 revenue of Rs 10,028 crore (up 12% YoY) with EBITDA of Rs 1,423 crore (margin 14.2%) and PAT of Rs 1,005.9 crore (up 158% YoY). Nuvama projects revenue of Rs 11,136 crore and PAT of Rs 637 crore. The wide range reflects uncertainty around an industrial gas shortage that may have impacted Q4 execution by Rs 2,500 to Rs 3,000 crore.

Why did Adani Enterprises report a loss in Q4 FY26?

Adani Enterprises’ Q4 loss of Rs 221 crore is not an operational deterioration and does not change its status as a stocks to watch today candidate. The loss is caused entirely by higher depreciation on two newly commissioned assets: the Navi Mumbai International Airport (opened December 2025) and the Kutch copper plant. Profit before tax excluding exceptional items was Rs 4,309 crore, indicating the underlying business was profitable. Full-year FY26 PAT rose 31% to Rs 9,339 crore.

What is the JSPL Q4 FY26 result and why does it matter?

JSPL is one of the turnaround highlights in the stocks to watch today list. The company posted Q4 consolidated PAT of Rs 1,041 crore versus a loss of Rs 304 crore in Q4 FY25, driven by record production of 2.65 million tonnes, record sales of 2.62 million tonnes, and a 25% revenue increase to Rs 16,484 crore. EBITDA jumped 66% sequentially to Rs 2,647 crore. The board declared a final dividend of Rs 2 per share.

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