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The Baseline
26 Feb 2025
By Abdullah Shah

2024 witnessed a slew of global conflicts, sticky inflation, and high interest rates, resulting in Foreign Institutional Investors (FIIs) getting a lot pickier with their investments in the Indian equity market. Investments and withdrawals were sector-specific investments and withdrawals. 

The trend persists in 2025 as Trump has been known to make both friends and enemies easily, and he brings this penchant into geopolitics. Markets have reacted sharply to his tariffs against allies and his outreach to Putin. 

Since January 2024, FIIs have sold total equities worth Rs 77,597 crore. FII shareholding in Indian equities were at a 12-year low of 16% in January 2025.

Speaking on the FII sell-off, Finance Minister Nirmala Sitharaman said, “FIIs go out when they are in a position to book profits. The Indian economy has an environment today where investments are yielding good results and profit-booking is happening.” 

Sitharaman is dodging a bit here. Profit booking isn’t the only factor driving FIIs to sell. Concerns such as earnings downgrades, a weakening rupee, slower-than-expected GDP growth, and anemic private capital expenditure are also fueling the outflows.

This Chart of the Week dives into the patterns of FII investments across various sectors in the past several months.

FIIs trim holdings in Finance, Oil & Gas, and IT stocks 

The financial sector bore the brunt of FII sell-offs in 2024 and January 2025. FIIs offloaded financial sector shares worth Rs 83,229 crore since January 2024, with January and October 2024 witnessing the highest outflows of Rs 30,013 crore and Rs 26,139 crore, respectively. 

After four consecutive years of healthy double-digit growth, Indian equities faced earnings downgrades in the past two quarters. 

The Indian government's estimates for GDP in FY25 confirmed the vibes – that the economy is seeing a slowdown. Real GDP growth is estimated to decelerate to 6.4% from 8.2% in FY24. This is below both the Ministry of Finance's forecast of 6.5% and the Reserve Bank of India's projection of 6.6%. 

The Indian rupee also weakened to a record low of Rs 87.2 against the US dollar in January 2025, after the RBI stopped aggressively defending the rupee via dollar sales. This depreciation has increased currency risk for FIIs, potentially triggering further outflows as investors sought to limit foreign exchange losses. 

Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted, "Despite the massive FPI selling in financials, this sector is resilient since the valuations are fair and every selling is being absorbed by Domestic Institutional Investors (DIIs) and individual investors, particularly HNIs." 

The oil & gas sector also saw substantial FII exits, with total sell-offs amounting to Rs 57,912 crore by January 2025. Notably, October, November, and December 2024 alone accounted for Rs 45,616 crore of these outflows. 

Fluctuating global oil prices from geopolitical tensions and supply-demand imbalances from US sanctions on Russian crude oil, have created uncertainty in the sector. FIIs further lost confidence in the sector due to domestic policy adjustments, including changes in subsidies and taxation.

The oil & gas marketing industry’s revenue and net profit declined by 3.8% YoY and 65.8% YoY during Q3FY25, further contributing to the sell-off. With the sector weakening, BPCL fell out of the Nifty 50 index in the most recent reshuffle.

The IT sector presents a mixed picture. While specific periods saw FII interest, the overall trend  indicates caution. In January 2025, FIIs withdrew approximately Rs 6,471 crore from IT stocks, reversing the Rs 14,566 crore invested in November and December 2024. Signs of a potential slowdown in key markets such as the US, have investors anticipating reduced demand for IT services.

High valuations in the IT sector and earnings downgrades prompted FIIs to book profits. Aamar Deo Singh, Senior Vice President of equity, commodity, and currency at Angel One, referred to this as a "double whammy," as the dip in consumer sentiment follows higher-than-expected January inflation figures of 3% compared to 2.9% in December. 

Consumer Services and Capital Goods sectors see limited FII interest

FIIs showed mixed interest in sectors like consumer services and capital goods. While these sectors saw good FII activity, the investments were modest. The sectors saw FII investment in H1CY24. However, investor interest declined towards the end of 2024 and January 2025.  

Despite the Union Budget's focus on boosting discretionary spending, concerns over stretched valuations and a slowing trend in urban consumption led to profit-booking by foreign investors. A continued recovery in demand is needed for investors to return.

Healthcare and Realty sectors attract FIIs, backed by favourable government regulations

As a defensive sector, the healthcare sector attracted FII investments with inflows of Rs 23,984 since January 2024. The sector also witnessed FIIs investing Rs 20,823 crore from June to September 2024 after expectations of increased spending. India's healthcare sector continued to expand, with growing demand for hospital chains, specialized treatments, and innovative drug research. Government initiatives to improve healthcare services made the sector attractive to foreign investors.

The realty sector saw a surge in foreign institutional investments of Rs 5,375 crore, Rs 2,061 crore and Rs 4,778 crore in September, November, and December 2024. This suggests growing confidence in India's real estate market. Rapid urbanization and government initiatives aimed at infrastructure development have strengthened the realty sector's prospects. 

Overall, 2024 witnessed significant FII outflows, with financials and oil & gas sectors facing the largest withdrawals. So far, 2025 has seen a similar trend. However, the healthcare and real estate sectors have attracted foreign investments – investors are lifting some boats over others

 
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The Baseline
25 Feb 2025
Five stocks to buy from analysts this week - February 25, 2025
By Ruchir Sankhla

1. Nazara Technologies:

ICICI Securities maintains a ‘Buy’ rating on this internet software company with a target price of Rs 1,080. This indicates an upside potential of 16.9%. Analysts Abhisek Banerjee and Jayram Shetty highlight its strong growth potential, supported by recent acquisitions, business expansion, and a solid market position in gaming, eSports, and ad-tech.

The company is expanding through acquisitions, including a 60% stake in indoor play center Funky Monkeys for Rs 43.7 crore, marking its entry into the physical entertainment gaming segment. It also acquired CATS: Crash Arena and King of Thieves from ZeptoLab for Rs 65.5 crore, strengthening its mobile gaming portfolio. Additionally, its eSports subsidiary, Nodwin Gaming, acquired esports events business StarLadder for Rs 46.8 crore, enhancing its global eSports leadership.

Banerjee and Shetty note that the investor interest remains strong, with Axana Estates investing ~Rs 495 crore for a 5.4% stake, alongside a public offer for an additional 26%. Management targets Rs 300 crore EBITDA by FY27, driven by scaling up its content library and expanding partnerships with game developers and publishers.

2. Marico:

Sharekhan retains its ‘Buy’ rating on this consumer goods manufacturer with a target price of Rs 780, indicating a potential upside of 25.4%. The company’s Q3FY25 revenue rose 15.4% YoY to Rs 2,794 crore due to growth in core categories such as coconut oil, hair oils, and premium refined edible oils, along with contributions from new business expansion, while its net profit increased 4.2% YoY to Rs 399 crore.

The analysts note that the domestic volume grew 6%, improving from 5% in Q2 and 4% in Q1. International sales rose 16%, driven by 20% growth in Bangladesh, 35% in the Middle East and North Africa, and 17% in South Africa. Operating profit rose, but operating margin fell 210 bps YoY to 19.1% due to higher copra and vegetable oil prices.

The company’s management believes that the consistent growth in the core portfolio, driven by brands like Parachute and Saffola, and over 20% growth in the foods and premium personal care portfolio, led by Saffola Oats, True Elements, Plix and Beardo. Additionally, a double-digit growth in the international business will help revenue expansion in the medium term. Analysts are optimistic about the company and expect a CAGR of 11.9% in revenue and 15.1% in net profit over FY25-27.

3. Federal Bank:

Emkay retains its ‘Buy’ rating on this bank with a target price of Rs 240, indicating an upside potential of 34.3%. Analysts Anand Dama and Nikhil Vaishnav highlight the bank’s efforts under new MD & CEO KVS Manian to strengthen its core and become a top private bank.

Dama and Vaishnav note that the bank has built a strong digital and physical network, a diverse loan portfolio, and stable leadership. The bank now aims to improve profitability with a return on assets (RoA) of 1.4-2.3% over the next 3-4 years and join top private banks like ICICI Bank and HDFC Bank. To achieve this, it is focusing on improving margins and asset quality.

Recently, the bank has taken steps such as deliberately slowing growth to manage liquidity and asset quality risks, increasing provisions for bad loans, and shifting auto loans to fixed rates to handle interest rate changes better. It plans to improve its CASA (current and savings account) ratio to 36% from 30% by FY28 by expanding in Tier-2 cities, attracting non-resident deposits, and offering wealth management services. 

4. Indus Towers:

Ventura initiates coverage on this telecom infrastructure company with a ‘Buy’ rating and a target price of Rs 450. This indicates a potential upside of 35.7%. The company’s net profit surged 2.6X YoY to Rs 4,003 crore in Q3FY25. This increase was mainly after Indus reversed a Rs 3,020 crore provision (previously set aside for doubtful payments from Vodafone Idea), bringing the total pending amount down to Rs 500 crore. Additionally, the company raised Rs 1,910 crore in Q3 by selling a pledged 3% stake held by Vodafone PLC.

The analysts highlight that 5G rollouts are driving demand for towers and co-locations. In Q3, Indus Towers added 4,985 macro towers and 7,583 co-locations. They note that growing 5G adoption will require more infrastructure to manage increasing traffic. Indus Towers is expanding its In-Building Solutions (IBS) portfolio, with small cell deployment in malls, airports, and stadiums to improve indoor coverage and network capacity.

The analysts expect the company’s tenancy ratio (average tenants per tower) to increase from the current 1.65X to 1.7X by FY27.

5. Ethos:

Axis Securities maintains a ‘Buy’ rating on this specialty retail firm with a target price of Rs 3,070, indicating a potential upside of 20.7%. A retailer of luxury watches and accessories, Ethos added five new stores in Q3FY25, bringing the total count to 73. The company’s management stated that it remains committed to expansion and aims to open six more boutiques by the end of FY25.

Ethos reported a 32% YoY revenue growth in Q3, reaching Rs 376 crore. EBITDA margins stood at 15.4%, down 42 bps, impacted by higher costs from hiring staff for new stores and rent for recently opened stores that are still in their early sales phase.

Analysts Preeyam Tolia and Suhanee Shome project the company's revenue to grow at a 34.5% CAGR over FY25-27, driven by a higher share of high-margin exclusive brands and expansion into luxury segments like luggage and jewellery. The company’s management aims for 10x revenue growth over the next decade.

Note: These recommendations are from various analysts and are not recommendations by Trendlyne.

(You can find all analyst picks here)

 
Trendlyne Marketwatch
Trendlyne Marketwatch
25 Feb 2025
Market closes flat, Vedanta to invest Rs 50,000 crore in Assam and Tripura's oil & gas sector
By Trendlyne Analysis

Nifty 50 closed at 22,547.55 (-5.8, 0.0%), BSE Sensex closed at 74,602.12 (147.7, 0.2%) while the broader Nifty 500 closed at 20,418.75 (-49.7, -0.2%). Market breadth is in the red. Of the 2,418 stocks traded today, 928 were in the positive territory and 1,454 were negative.

Indian indices closed flat after paring gains in the afternoon session. The Indian volatility index, Nifty VIX, fell 4.7% and closed at 13.8 points. Bharti Airtel closed 2.3% higher after partnering with Ericsson to deploy 5G core network solutions in India.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red. Nifty Media and S&P BSE Telecom were among the best-performing indices of the day. According to Trendlyne’s sector dashboard, Telecom Services emerged as the highest-performing sector of the day, with a rise of 1.9%.

European indices are trading in the green, except France’s CAC 40 and Netherlands’ AEX indices, which are trading flat and 0.5% lower, respectively. Major Asian indices closed lower. US index futures are trading lower after President Donald Trump confirmed going ahead with the 25% tariffs on Canada and Mexico.

  • Money flow index (MFI) indicates that GlaxoSmithKline Pharmaceuticals is in the overbought zone.

  • Vedanta announces plans to invest Rs 50,000 crore in Assam and Tripura's oil and gas sector over the next 3-4 years. The investment aims to boost production to 1 lakh barrels per day, strengthening the region's hydrocarbon industry.

  • ICICI Securities retains its 'Buy' call on Solar Industries with a target price of Rs 13,720 per share. This indicates a potential upside of 54.7%. The brokerage believes the company's revenue will grow due to improving defence and exports & overseas segments and higher capex spends. It expects the firm's revenue to grow at a CAGR of 23.6% over FY25-27.

  • Adani Wilmar, a fast-moving consumer goods unit of Adani Group, receives shareholders' approval to rename the company to AWL Agri Business.

  • According to a poll of economists, India’s economy likely grew to 6.3% in Q3FY25 from 5.4% in the September quarter. They believe a rise in government spending and recovery in consumption, particularly in rural areas, has provided support. India’s GDP data is scheduled for release on February 28.

  • Nestle's shares rise as it reportedly considers a slight price hike to offset inflation in coffee, cocoa, and edible oil while focusing on maintaining sales momentum.

  • Bharti Airtel is rising as it partners with Ericsson to deploy 5G core network solutions in India. As part of the partnership, Ericsson will deploy its signalling controller to support Airtel’s transition to a full-scale 5G standalone network.

  • Power Mech Projects bags an order worth Rs 164.6 crore from Bharat Heavy Electricals to set up the 2 x 800 MW Damodar Valley Corp (DVC) Koderma thermal power station (TPS) Phase-II project. Power Mech Projects will design, engineer, erect and commission the project, including mandatory spare parts and civil works.

  • Neeraj Sharma, CEO and MD of OneSource Specialty Pharma, aims to reach $400 million in revenue with EBITDA margins at 40% in the next 3-4 years. To support growth, the company is expanding its manufacturing capacity, scaling production to over 200 million cartridges over the next few years from 40 million. This involves a capex of $100 million, with a major portion allocated to cartridge manufacturing and drug-device combination capabilities.

  • Tata Investment Corp rises sharply as Tata Capital secures board approval for its initial public offering (IPO). The offering includes 23 crore new shares and an offer-for-sale by some existing shareholders.

  • Jyoti Structures receives an order worth Rs 389.4 crore from Adani Energy Solutions for the turnkey execution of the 765 kV DC Transmission Line 1B of Boisar II–Pune III. The contract includes tower supply, survey, soil investigation, foundation work, erection, stringing, testing, and commissioning.

  • SBI Life Insurance's board of directors approves appointing Dorababu Daparti as the Deputy Chief Executive Officer (CEO), effective February 24.

  • HSBC believes India's proposed changes to its electric vehicle policy will create an unfair advantage for imported EVs over domestically produced cars. The policy allows for a concessional import duty of 15% on electric cars, leading to a substantial tax disparity. This also raises concerns about long-term investments by Indian internal combustion engine (ICE) carmakers like Mahindra & Mahindra.

  • Indian Renewable Energy Development Agency (IREDA) rises as its shareholders approve raising up to Rs 5,000 crore through a qualified institutional placement (QIP). The fundraising may dilute the Government of India's stake in IREDA by up to 7% post-issue.

  • MPS' board of directors schedules a meeting on February 28 to consider and approve raising funds through the issue of shares or any other equity-linked securities.

  • Welspun Specialty Solutions rises sharply as its board of directors approves raising Rs 349.9 crore through a rights issue of 13.3 crore shares. The board also revises the record date for the rights issue to March 1 from February 27.

  • Bernstein maintains its ‘Outperform’ rating on Zomato with a target price of Rs 310. The company remains its top internet pick and highlights that it is playing the long game, focusing on growth and profitability. Bernstein notes the competitive intensity in the quick commerce space but believes Zomato is poised to maintain its leadership.

  • Akzo Nobel India's board of directors approves selling its powder coatings business for Rs 2,073 crore and research & development (R&D) centre for Rs 70 crore to its parent, Akzo Nobel N.V., through a slump sale as a going concern.

  • Gensol Engineering signs a non-binding term sheet for a Rs 350 crore deal to sell its US subsidiary, Scorpius Trackers, to a major renewable energy solutions provider in the US. The transaction includes transferring exclusive global intellectual property rights for Scorpius Trackers' solar tracking technology, except in India.

  • Axis Direct maintains its 'Buy' call on CIE Automotive India with a lower target price of Rs 520 per share. This indicates a potential upside of 28.8%. The brokerage believes the company's Indian business will continue to outperform the Indian industry in the medium term, while the European business will remain muted before gradually recovering post-H2CY25. It expects the firm's revenue to grow at a CAGR of 7.1% over FY25-26.

  • CLSA believes QSR companies are on the right path to boost demand, by sacrificing some margins. However, rising competition from new restaurants and quick commerce players is a concern. It favours Restaurant Brands Asia and Devyani International while remaining cautious on Jubilant Foodworks and Westlife Foodworld.

  • Biocon is rising as it launches Yesintek in the US market. The drug is the first Stelara biosimilar entrant in the US and is used to treat Crohn's disease, ulcerative colitis, plaque psoriasis, and psoriatic arthritis.

  • Texmaco Rail & Engineering is rising as it signs a memorandum of understanding with Nevomo to develop high-speed rail solutions, AI-powered predictive diagnostics, self-propelled wagons, and driverless freight trains for India and global markets.

  • Oil & Natural Gas Corp is rising as its board of directors approves a Rs 1,200 crore investment in its subsidiary, ONGC Green, through a rights issue.

  • NTPC signs multiple memorandums of understanding (MoUs) with the Government of Madhya Pradesh at the Global Investors Summit 2025 in Bhopal. Under these agreements, NTPC commits to investing Rs 80,000 crore to develop sustainable, non-fossil fuel power plants across the state. It also plans to invest Rs 4,000 crore in an 800 MW pumped hydro storage project to enhance Madhya Pradesh’s energy storage capacity.

  • Nifty 50 was trading at 22,560.05 (6.7, 0.0%) , BSE Sensex was trading at 74,440.30 (-14.1, 0.0%) while the broader Nifty 500 was trading at 20,469.90 (1.5, 0.0%)

  • Market breadth is ticking up strongly. Of the 1,911 stocks traded today, 1,271 were in the positive territory and 590 were negative.

Riding High:

Largecap and midcap gainers today include Adani Power Ltd. (497.80, 5.9%), Max Healthcare Institute Ltd. (1,022.90, 3.5%) and Mahindra & Mahindra Ltd. (2,777.85, 2.5%).

Downers:

Largecap and midcap losers today include Varun Beverages Ltd. (476.50, -4.7%), Petronet LNG Ltd. (291.50, -4.3%) and Hindalco Industries Ltd. (619.45, -3.5%).

Crowd Puller Stocks

16 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Tata Investment Corporation Ltd. (6,167.25, 7.2%), Adani Power Ltd. (497.80, 5.9%) and Narayana Hrudayalaya Ltd. (1,465.55, 5.2%).

Top high volume losers on BSE were Dr. Lal Pathlabs Ltd. (2,410.10, -6.9%), Can Fin Homes Ltd. (577.85, -4.5%) and Gujarat Gas Ltd. (394.40, -3.0%).

Gland Pharma Ltd. (1,597.90, 4.8%) was trading at 11.0 times of weekly average. Metro Brands Ltd. (1,139.70, 4.1%) and Sun TV Network Ltd. (600.50, 3.6%) were trading with volumes 10.7 and 5.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

1 stock hit their 52 week highs, while 39 stocks hit their 52 week lows.

Stock touching their year highs included - Narayana Hrudayalaya Ltd. (1,465.55, 5.2%).

Stocks making new 52 weeks lows included - AIA Engineering Ltd. (3,205, -1.7%) and Alembic Pharmaceuticals Ltd. (790, -0.6%).

15 stocks climbed above their 200 day SMA including Devyani International Ltd. (178.46, 4.4%) and Cholamandalam Financial Holdings Ltd. (1,568.40, 4.3%). 15 stocks slipped below their 200 SMA including L&T Technology Services Ltd. (4,727.85, -3.2%) and Gujarat Fluorochemicals Ltd. (3,688, -1.8%).

 
Trendlyne Marketwatch
Trendlyne Marketwatch
24 Feb 2025
Market closes lower, NBCC wins a Rs 264.2 crore contract for construction at NIT Kurukshetra
By Trendlyne Analysis

Nifty 50 closed at 22,553.35 (-242.6, -1.1%), BSE Sensex closed at 74,454.41 (-856.7, -1.1%) while the broader Nifty 500 closed at 20,468.45 (-221.8, -1.1%). Market breadth is highly negative. Of the 2,455 stocks traded today, 602 were on the uptick, and 1,812 were down.

Indian indices closed in the red amid global trade war concerns as well as persistent selling by foreign investors (FIIs). The Indian volatility index, Nifty VIX, fell 0.6% and closed at 14.4 points. Healthcare Global Enterprises closed 2.1% higher after private equity firm KKR & Co. signed an agreement to acquire a 54% stake worth approx Rs 3,350 crore from CVC Asia. 

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red. Nifty Metal and Nifty PSU Bank closed lower. According to Trendlyne’s sector dashboard, Telecommunications Equipment emerged as the worst-performing sector of the day, with a fall of 2.7%.

European indices are trading mixed. Major Asian indices closed flat or lower. US index futures are trading higher, indicating a positive start to the trading session. US consumer confidence fell for the second consecutive month in February, due to concerns about Trump’s tariff plans and their potential impact on households. The consumer confidence index dropped to 102.9 from 106 in January. Meanwhile, investors look ahead to NVIDIA's earnings release, scheduled for this week.

  • Relative strength index (RSI) indicates that stocks like Godrej Industries and Hindalco Industries are in the overbought zone.

  • Bharat Forge's subsidiary, Kalyani Powertrain, partners with Advanced Micro Devices (AMD) to enter the Indian server market.

  • Zaggle Prepaid Ocean Services is rising as it partners with Gujarat International Finance Tec-City (GIFT City) to provide a co-branded prepaid citizen card and visitor management system for GIFTCL.

  • Easy Trip Planners wins Madhya Pradesh’s first inter-city electric bus tender through its subsidiaries, YoloBus and Easy Green Mobility. YoloBus will manage operations, while Easy Green Mobility will handle manufacturing. The first batch is set for deployment in August 2025.

  • Citi maintains its ‘Buy’ rating on InterGlobe Aviation (IndiGo) with a higher target price of Rs 5,200. The brokerage also opens a 90-day catalyst watch on the company due to the pick-up in overall air traffic demand. It notes the positive contribution of the Maha Kumbh Mela to IndiGo’s market share. Citi believes this increased traffic will translate into better yields for the company in Q4.

  • Swiggy is rising as its board of directors approves investing Rs 1,000 crore in its subsidiary, Scootsy Logistics, through a rights issue in multiple tranches. The investment will be used for working capital requirements and other capex as part of the company's expansion plans.

  • Manappuram Finance is rising as Bain Capital is reportedly in talks to acquire a controlling stake for $1 billion (approx. Rs 8,672 crore).

  • NBCC secures a Rs 264.2 crore engineering, procurement, and construction (EPC) contract from NIT Kurukshetra for building construction in Haryana. The project includes academic, hostel, residential blocks, a director’s residence, and external development work.

  • Anil Gupta, Managing Director of KEI Industries, notes the heathy demand environment, and highlights there is more traction in the cables business compared to wires. He adds that exports contribution will increase to 18-20% by FY26-27. Gupta projects revenue of Rs 13,400 crore and PAT of around Rs 1,000 crore for FY27.

  • Axis Direct maintains its 'Buy' call on NCC with a higher target price of Rs 213 per share. This indicates a potential upside of 15.6%. The brokerage believes the company is well positioned for revenue growth owing to a strong order book, robust bidding pipeline, and diversified portfolio. It expects the firm's revenue to grow at a CAGR of 14% over FY25-27.

  • Ujjivan Small Finance Bank approves the sale of a Rs 364.5 crore micro banking loan pool to an asset reconstruction company (ARC). The pool includes Rs 294.5 crore in NPAs and Rs 70 crore in written-off loans, with a 66.5% provision coverage.

  • Syngene International is falling as it receives Form 483 with five observations from the US FDA following a pre-approval and good manufacturing practices (GMP) inspection at its Bengaluru facility.

  • Companies like 360 One Wam, Ajanta Pharma, BSE, IndusInd Bank, and Kaynes Technology, among others, are set to join the FTSE India Index, with adjustments effective March 21, 2025. This semi-annual review is expected to bring a net inflow of $1.4 billion for India.

  • Brigade Enterprises plans to invest Rs 1,500 crore in Kerala over the next five years to set up a second World Trade Centre (WTC), a residential project in Kochi, and a luxury island resort in Vaikom.

  • Ami Organics is rising as its board of directors approves the stock split of one equity share with a face value of Rs 10, fully paid up, into two equity shares of Rs 5 each.

  • Rail Vikas Nigam emerges as the lowest bidder for a Rs 156.4 crore South Western Railway project. The contract involves engineering, procurement, and construction (EPC) work for 2x25 KV overhead electrification (OHE) and power systems over 99.5 route kilometres (RKM), to be completed in 18 months.

  • Mahindra & Mahindra is rising as Jefferies reiterates its ‘Buy’ rating with a target price of Rs 4,075. The brokerage views the recent decline in share price as a buying opportunity, and finds its valuation attractive. It prefers Mahindra & Mahindra over Maruti Suzuki and Hyundai, citing favourable industry demand tailwinds and improving market share in tractors and SUVs. In addition, Jefferies sees limited impact from Tesla’s potential entry into India.

  • Quality Power Electrical Equipments' shares debut on the bourses at a 1.2% premium to the issue price of Rs 425. The Rs 858.7 crore IPO received bids for 1.3 times the total shares on offer.

  • EPL is falling as its promoter, Epsilon Bidco, a unit of Blackstone, sells 7.9 crore shares (24.9% stake) to Indorama Netherlands for Rs 1,907 crore at Rs 240 per share.

  • Oil India signs a memorandum of understanding (MoU) with Mineral Exploration and Consultancy (MECL) to collaborate in the exploration and development of critical mineral blocks in India and overseas.

  • Healthcare Global Enterprises is rising as private equity firm KKR & Co. signs an agreement with its promoter entity CVC Asia to acquire a majority stake worth approx Rs 3,350 crore. KKR will acquire up to 54% equity in the company from CVS at Rs 445 per share and launch an open offer to purchase additional shares from public shareholders. The transaction is expected to close by Q3FY26, subject to regulatory approvals.

  • Bajaj Auto's board of directors approves an investment worth Euro 150 million (~ Rs 1,364 crore) in its Dutch subsidiary, Bajaj Auto International Holdings BV, in one or more tranches, in the form of equity capital, preference capital, or other modes.

  • Granules India is rising as it acquires Senn Chemicals AG, a Swiss-based contract development and manufacturing organisation (CDMO) specialising in peptides, for CHF 20 million (around Rs 192 crore).

  • Zydus Lifesciences is rising as it receives final approval from the US FDA to manufacture Ibuprofen and famotidine tablets. The combination is used for the treatment of rheumatoid arthritis and osteoarthritis and to decrease the risk of developing upper gastrointestinal ulcers. The drugs have a market size of $3.6 million for the year ending December 2024, according to IQVIA.

  • RailTel Corp of India is rising as it secures a work order worth Rs 288.1 crore from East Central Railway to implement Kavach, an indigenous Train Collision Avoidance System, on a low-density railway track.

  • Gloom in markets in early trading. Nifty 50 was trading at 22,645 (-150.9, -0.7%), BSE Sensex was trading at 74,893.45 (-417.6, -0.6%) while the broader Nifty 500 was trading at 20,489.55 (-200.7, -1.0%).

  • Market breadth is highly negative. Of the 2,021 stocks traded today, 257 showed gains, and 1,721 showed losses.

Riding High:

Largecap and midcap gainers today include GlaxoSmithKline Pharmaceuticals Ltd. (2,638.15, 5.2%), Varun Beverages Ltd. (499.95, 4.7%) and Abbott India Ltd. (29,813.50, 3.0%).

Downers:

Largecap and midcap losers today include Info Edge (India) Ltd. (7,151.80, -5.1%), LTIMindtree Ltd. (5,047.45, -4.7%) and L&T Technology Services Ltd. (4,885.60, -4.6%).

Volume Rockets

12 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Happiest Minds Technologies Ltd. (721.50, 7.3%), Data Patterns (India) Ltd. (1,642.90, 5.8%) and 360 One Wam Ltd. (1,009.40, 2.9%).

Top high volume losers on BSE were LTIMindtree Ltd. (5,047.45, -4.7%), Cera Sanitaryware Ltd. (5,576.20, -4.3%) and HCL Technologies Ltd. (1,644.05, -3.3%).

Pfizer Ltd. (4,192.75, 2.4%) was trading at 19.7 times of weekly average. Tata Communications Ltd. (1,436.05, -1.0%) and Century Plyboards (India) Ltd. (765.25, -0.8%) were trading with volumes 3.7 and 3.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

45 stocks hit their 52 week lows.

Stocks making new 52 weeks lows included - AIA Engineering Ltd. (3,258.75, -4.0%) and Alembic Pharmaceuticals Ltd. (795.10, -1.0%).

8 stocks climbed above their 200 day SMA including 360 One Wam Ltd. (1,009.40, 2.9%) and Star Cement Ltd. (212.47, 2.7%). 24 stocks slipped below their 200 SMA including Info Edge (India) Ltd. (7,151.80, -5.1%) and L&T Technology Services Ltd. (4,885.60, -4.6%).

 
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The Baseline
21 Feb 2025
Five Interesting Stocks Today - February 21, 2025
By Trendlyne Analysis

1. Narayana Hrudayalaya:

Thishealthcare facilities company surged 3.1% on February 18 following the announcement of itsQ3FY25 results. During the quarter, the company’s revenue rose 13.6% YoY to Rs 1,366.7 crore. Its net profit grew 2.6% YoY to Rs 192.9 crore, beating theForecaster estimates by 6.6%. 

The growth was driven by better realizations, with an Average Revenue Per Occupied Bed (ARPOB)growth of 9% YoY, and increased domestic patient footfalls. However, international patient volumes declined by 51% YoY and 48% QoQ, primarilydue to a drop in patients from Bangladesh amid geopolitical issues.

In Q3FY25, revenue from the Cayman Islandsrose 14% YoY, accounting for 21% of total sales. Growth was driven by strong outpatient demand at the new Camana Bay hospital. Inpatient department operations began in January 2025, with full operationalization expected by Q4FY25.

Sandhya J, Group Chief Financial Officer of the companysaid, “We are entering a capex growth phase right now, and are going to add at least 1,400 beds in the next 3 to 4 years.” The company plans toexpand further, adding about 2,000 beds over six years.

To support this expansion, the company has allocated acapex of Rs 1,650 crore in FY25, Rs 1,000 crore in FY26, and Rs 850 crore in FY27. Key projects driving this expansion include new hospitals in Bangalore and Kolkata, a 300-bed expansion in Raipur, and a 220-bed facility in Central Bangalore. Additionally, the company isexploring expansion opportunities in existing locations and aims for returns of over 15%. 

Post results, Prabhudas Lilladhermaintained its ‘Buy’ rating on the company, citing its aggressive expansion plans and strong financial performance, including a 10% YoY increase in EBITDA and 9% YoY ARPOB growth in India. The brokerage also highlights operational efficiencies, improved margins in new India units, and the anticipated ramp-up of the Cayman unit as key factors supporting its recommendation, with a target price of Rs 1,560.

2. Muthoot Finance:

This gold loan NBFC surged by 6.2% on February 13 following the announcement of its Q3FY25 results. Muthoot Finance’s net profit increased 25.9% YoY to Rs 1,389.2 crore, beating Trendlyne’s Forecaster estimates by 4.4%. Revenue grew 35.9% YoY to Rs 5,189.7 crore during the quarter. 

During the quarter, the company reported its highest-ever AUM growth of 34% YoY at Rs 1.1 lakh crore. The gold loan segment witnessed remarkable growth of 34% YoY, compared to Q2FY25 (up 28% YoY), driven by higher gold prices and new customer additions. Commenting on this, George Alexander Muthoot, the Managing Director, said, “There is strong demand for gold loans as credit from other sources, including fintech, unsecured, and microfinance lending, has dried up in recent months". 

Muthoot Finance witnessed a drop in its microfinance (MFI) lending in Q3. The company’s disbursals were down 47% YoY as it remained cautious, given sector challenges. The MFI sector has been facing pressures due to rising bad loans and slower growth. Muthoot’s GNPA (gross non-performing asset) in the microfinance business rose to 2.9% from 1.9% in Q3FY24. However, conditions are expected to improve over the next few quarters as the company moves its focus to improving its collection efficiency as well as the quality of its loan book.

Going forward, the management maintains its guidance for gold loan growth at 25% YoY in FY25. For FY26, Muthoot Finance projects a 15% growth and expects to surpass the target. 

Following the company’s earnings announcement, Nuvama upgraded its rating to ‘Buy’ from ‘Reduce’ and raised the target price to Rs 2,550. The brokerage believes the company is well-positioned for sustained growth. It remains bullish due to Muthoot Finance’s consistent performance, supported by rising gold prices. Trendlyne classifies it as a Turnaround Potential stock.

3. ITC:

This cigarettes & tobacco products company touched a 52-week low of Rs 396.2 on 20th February. The decline in its stock price came after reports suggested that the government may increase the GST on tobacco products once the compensation cess is removed. Currently, cigarettes and other tobacco products are subject to a 28% GST, along with cess and other levies, bringing the total indirect tax to 53%.

The government aims to maintain its tax revenue from tobacco products after the compensation cess ends on March 31, 2026, and is not inclined to replace it with another cess. The GST Council's Group of Ministers (GoM) had previously suggested linking the cess to a product’s maximum retail price instead of its sales value. This proposal was later referred back to the fitment committee and the GoM on rate rationalization.

On February 8, ITC announced its plan to enter the frozen foods and ready-to-cook business by acquiring a 43.8% stake in both ‘Prasuma’ & ‘Meatigo’ for around Rs 300 crore, reportedly. The deal is expected to be completed in over three years. ITC plans to increase its stake to 62.5% in ‘Prasuma’ by April 2027, with the remaining stake to be potentially acquired by June 2028. Hemant Malik, Wholetime Director of ITC, stated, “The deal will enable ITC to develop a portfolio in the frozen, chilled, and ready-to-cook (RTC) segment of the Rs 10,000 crore market, which holds significant growth potential.”

The Company announced its Q3FY25 results on February 6th. During the quarter, its net profit declined by 7.5% YoY to Rs 4,934.8 crore due to muted demand in FMCG and hikes in prices of key input materials like edible oil, leaf tobacco and wood. Revenue was up by 8.6% YoY. The company’s revenue beat forecaster estimates by 6.9%, due to growth in the cigarettes and agri segment revenue. It appears on a screener for stocks with high FII stock holdings.

KR Choksey has maintained a ‘Buy’ rating on ITC but lowered its FY26 and FY27 EPS estimates by 6.1% and 7.5%, respectively, due to the hotel business demerger, weak Q3FY25 performance, soft demand, and inflationary pressures. Despite this, the brokerage remains optimistic about ITC’s long-term prospects, thanks to its strong cigarette market share, solid FMCG execution, and rural demand recovery. Following the demerger, the brokerage has adjusted its valuation to 40% of market capitalization with a 20% holding discount, lowering its target price to Rs 494.

4. ABB India:

This heavy electrical equipment company has fallen by 2.8% over the past week, despite surpassing the Forecaster estimates for revenue and net profit in its Q4CY24 results. The company's order inflow (OI) declined 14% YoY to Rs 2,700 crore, primarily due to a 30% drop in the motion (motors and drives) segment. This segment benefited from a large data centre order in Q4CY23. However, base orders (with completion timelines of 3-12 months) rose 4%, while the order book stood at Rs 9,400 crore.

CFO T. Sridhar said, "The market is easing out, which can lead to lower pricing power on new orders.” Sridhar flagged profit margin pressures, “We expect profit margins to settle in the 12-15% range (15.4% in CY24)," he said. 

Sridhar noted that while order growth was strong earlier, sustaining the same pace may be difficult since the company already has a large number of existing orders. However, he expects private capex to rise after the 2025 budget, with growth driven by sectors like power generation, automotive, food & beverages and data centres.

ABB India’s EBITDA margin improved to 19.5% (up 440 bps) due to high-margin orders and better capacity utilization. The company appears in a screener of stocks with growing costs YoY from long-term projects.

ABB’s MD, Sanjeev Sharma, discussed the impact of US tariffs, stating that they could open opportunities for India to expand its role in global trade. While the company has grown its export portfolio, it still accounts for only 10% of its business. The company anticipates exports to contribute positively to India, despite global market fluctuations.

Post results, ICICI Securities upgraded its rating on ABB India to ‘Hold’ with a target price of Rs 5,302. The brokerage believes the company will benefit from the Centre's capex push in renewables, infrastructure, EVs, and manufacturing. Additionally, its strong distribution network enhances its ability to secure industry orders.

5. Cipla:

This pharmaceuticals company has risen 2.1% in the past month in a weak market owing to strong Q3FY25 results, where revenue and net profit grew by 7.5% YoY to Rs 7,294.6 crore and 48.7% YoY to 1,570.5 crore. 

On Wednesday, the company invested ZAR 900 million (~Rs 424.9 crore) in its subsidiary, Cipla Medpro South Africa Proprietary, for 4.1 crore shares. The company has a strong presence in South Africa and intends to expand its footprint. 

The drug maker also received final approval from the US FDA for a new drug application (NDA) for Nilotinib Capsules and a Form 483 with two observations from the US FDA following a good manufacturing practices (GMP) inspection at its analytical testing facility in Navi Mumbai. 

The company’s Q3 revenue and net profit beat Forecaster estimates by 1.9% and 30.4%, respectively. Revenue improved due to increased sales in the Indian, South African, and rest of the world (RoW) markets. However, the US market witnessed a downturn due to Lanreotide supply issues due to temporary lower production at a partner facility. 

The company’s Indian business grew due to improvements in branded prescriptions, chronic, and trade generics. Meanwhile, reducing inventory and finance costs, combined with launching high-margin products, helped its net profit grow. 

Speaking on its results, Cipla’s MD and CEO, Umang Vohra, said, “Our Emerging Markets & Europe (EMEU) and One Africa businesses together account for more than 25% of total revenue, similar in size to our US business. In 9MFY25, these markets combined have delivered a strong growth of 15% YoY. Our diversification and backlog of our launch pipeline gives us confidence in a resilient business model.”

Post results, Axis Direct retains its ‘Buy’ call on Cipla. It has a target price of Rs 1,700 per share, indicating a potential upside of 15.2%. The brokerage believes that the company’s India business will continue to grow, driven by diversification and a strong launch pipeline. However, it expects the US business to remain sluggish due to the continued supply issues of Lanreotide. Axis Direct expects the firm’s revenue to grow at a CAGR of 8.3% over FY25-26.

Trendlyne's analysts identify stocks that are seeing interesting price movements, analyst calls, or new developments. These are not buy recommendations.

 
Trendlyne Marketwatch
Trendlyne Marketwatch
21 Feb 2025
Market closes lower, Can Fin Homes awards a Rs 297 crore contract to IBM India for cybersecurity
By Trendlyne Analysis

Nifty 50 closed at 22,795.90 (-117.3, -0.5%), BSE Sensex closed at 75,311.06 (-424.9, -0.6%) while the broader Nifty 500 closed at 20,690.25 (-140.9, -0.7%). Market breadth is in the red. Of the 2,424 stocks traded today, 945 were on the uptick, and 1,447 were down.

Indian indices closed in the red, with the benchmark Nifty 50 index closing at 22,795.9 points. The Indian volatility index, Nifty VIX, declined 0.8% and closed at 14.6 points. Tata Steel acquired an additional 191.1 crore shares in its Singapore subsidiary, T Steel Holdings, for $300 million (~ Rs 2,603.2 crore).

Nifty Smallcap 100 closed flat, while Nifty Midcap 100 closed in the red. BSE Metal was the top index gainer today. According to Trendlyne’s Sector dashboard, Forest Materials emerged as the best-performing sector of the day, with a rise of 2.3%.

Asian indices closed mixed, while European indices are trading higher. US index futures traded in the green, indicating a positive start to the trading session. Brent crude oil futures are trading in the red. Walmart's disappointing Q4 earnings sent shockwaves through other retailers, with Target Corporation and Costco also trading lower. However, Truist Securities viewed the pullback in Walmart as a chance for investors to "aggressively" buy the stock, citing gains in market share and improved margins.

  • Money flow index (MFI) indicates that GlaxoSmithKline Pharmaceuticals is in the overbought zone.

  • Pfizer signs a five-year marketing and supply agreement with Mylan Pharmaceuticals to expand the distribution of Ativan and Pacitane in India. Mylan will handle sales of these drugs, which are used for anxiety disorders and neurological conditions.

  • Cipla receives a Form 483 with two observations from the US FDA following a good manufacturing practices (GMP) inspection at its wholly owned subsidiary, Sitec Labs' analytical testing facility in Navi Mumbai.

  • NTPC Green Energy signs a memorandum of understanding (MoU) with Bharat Light and Power (BLP) to explore the off-take of green hydrogen and its derivatives from NTPC Green.

  • The FTSE India March 2025 semi-annual review announcement is scheduled today, with adjustments set for March 21. IIFL Capital expects 10 potential inclusions in the FTSE, including 360 One Wam, Blue Star, Fortis Healthcare, Apar Industries, and Bajaj Housing. The brokerage forecasts that Fortis Healthcare could see inflows exceeding $60 million (Rs 495 crore).

  • Vedanta secures approval from its creditors and shareholders to demerge into five entities. The demerger will create Vedanta, Vedanta Aluminium Metal, Talwandi Sabo Power, Malco Energy, and Vedanta Iron and Steel as separate companies.

  • Can Fin Homes awards a Rs 297 crore contract to IBM India to upgrade and manage its core business systems. The company will handle loan processing, document management, accounting, and risk management. It will also provide cybersecurity solutions, including threat monitoring and access control.

  • Maharashtra Scooters' board of directors approves the closure of its manufacturing plant in Satara. The board also approves the sale of its land lease rights, machinery and spares for a total consideration of Rs 145.8 crore.

  • Morgan Stanley initiates coverage with an ‘Overweight’ rating on JSW Energy and a target price of Rs 545. The brokerage's positive outlook is based on the company's market share growth, achieved through competitive pricing, and its strong growth potential in the renewable energy sector. The brokerage projects an EBITDA CAGR of 24% for JSW Energy from FY24 to FY28.

  • Easy Trip Planners signs a memorandum of understanding (MoU) with the Korea Tourism Organisation (KTO) to promote Korea to Indian tourists. The company will launch a microsite with travel plans, key attractions, and essential information. It will also run digital campaigns with blogs, videos, and social media promotions on Korea’s culture, cities, and landscapes.

  • ITI surges to its 5% upper circuit as it receives a revised order from the Administrative Mechanism for Resolution of Commercial Disputes (AMRCD) to transfer 22.3 acres of land in Electronic City, Bangalore, to the Centre for Development of Telematics (C-DoT) through a sale deed for Rs 200 crore.

  • Global Health receives approval from the National Company Law Tribunal (NCLT) to merge Medanta Holdings with itself.

  • Sanjay Sethi, MD and CEO of Chalet Hotels, announces the acquisition of Mahananda Spa & Resorts for an all-cash deal of Rs 530 crore. He expects this hotel's occupancy to rise to 60%, up from the previous 45%. Sethi highlights that the company's debt will increase to Rs 2,100 crore following this acquisition.

  • Senores Pharmaceuticals is rising as its subsidiary, Senores Pharmaceuticals USA, signs an agreement to acquire the US FDA-approved Abbreviated New Drug Application (ANDA) for Roflumilast tablets from Towa International's subsidiary, Breckenridge Pharmaceutical. The drug treats severe chronic obstructive pulmonary disease (COPD) with chronic bronchitis. Its US market size is estimated at $46 million for the year ending September 2024, according to IQVIA.

  • Tata Steel is rising as it acquires an additional 191.1 crore shares in its Singapore subsidiary, T Steel Holdings, for $300 million (~ Rs 2,603.2 crore).

  • HG Infra Engineering sells its entire 100% stake in Rewari Bypass to Highways Infrastructure Trust for Rs 133 crore.

  • MTAR Technologies declines over 2% as its promoter, K Shalini, acquires 1.1 lakh equity shares of the company through an open market transaction, bringing her total stake to 1.3% from 0.3% earlier. Meanwhile, Graviton Research Capital LLP sells approx 2 lakh shares worth Rs 28.7 crore through a bulk deal.

  • Jyoti Structures plans to restart its second manufacturing unit in Nasik by the end of FY25, adding 33,000 metric tonnes (MT) to its existing capacity. The company also plans to add a new galvanising plant and three new CNC fabrication machines in addition to refurnishing the seven CNC machines already at the plant.

  • JTL Industries is rising as it receives approval from the National Company Law Tribunal (NCLT) to commence operations at the RCI Industries & Technologies plant. The company will produce up to 200 metric tonnes of copper and brass alloys monthly through job work.

  • Ceigall India rises sharply as it achieves financial closure worth Rs 2,498.5 crore to implement two projects to construct 4/6 lane highways in Ayodhya.

  • Jefferies sees the healthcare sector as a strong investment opportunity due to its robust earnings visibility in an uncertain market. The brokerage highlights growing positive sentiment around hospital stocks, driven by aggressive capacity expansion as companies capitalise on India's underdeveloped healthcare market. It favours hospitals with substantial brownfield bed expansion plans, naming Max Healthcare its top pick.

  • Narayana Hrudayalaya rises to its 52-week high of Rs 1,430 per share as it plans an investment of Rs 900 crore to set up a 1,100-bed hospital in Kolkata.

  • Grindwell Norton is rising as its board appoints Venugopal Shanbhag as the new Managing Director (MD), succeeding B Santhanam, effective April 1.

  • CIE Automotive is falling as its Q3FY25 revenue falls 5.8% YoY to Rs 2,109.9 crore due to a reduction in exports to Europe. However, net profit grows 9.5% YoY to Rs 185 crore, helped by lower raw materials, employee benefits, finance, and tax expenses. It shows up in a screener of stocks with high market cap but lower public shareholding.

  • Action Construction Equipment secures an order worth Rs 420 crore from the Ministry of Defence (MoD) to supply 1,121 rough terrain fork lift trucks (RTFLTs) with attachments and accompanying accessories.

  • Nifty 50 was trading at 22,906.60 (-6.6, 0.0%), BSE Sensex was trading at 75,612.61 (-123.4, -0.2%) while the broader Nifty 500 was trading at 20,887.45 (56.4, 0.3%)

  • Market breadth is highly positive. Of the 1,962 stocks traded today, 1,599 were on the uptick, and 334 were down.

Riding High:

Largecap and midcap gainers today include JSW Infrastructure Ltd. (259.30, 8.8%), JSW Energy Ltd. (496.60, 6.0%) and L&T Technology Services Ltd. (5,123.10, 4.2%).

Downers:

Largecap and midcap losers today include Mahindra & Mahindra Ltd. (2,669.35, -6.0%), Godrej Properties Ltd. (1,991.35, -4.1%) and Biocon Ltd. (322.50, -4.0%).

Volume Shockers

14 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Godrej Industries Ltd. (1,131.50, 11.8%), JSW Infrastructure Ltd. (259.30, 8.8%) and JSW Energy Ltd. (496.60, 6.0%).

Top high volume losers on BSE were Divi's Laboratories Ltd. (5,757.05, -3.7%), Mahindra & Mahindra Financial Services Ltd. (270.45, -3.6%) and CIE Automotive India Ltd. (420.85, -2.4%).

Century Plyboards (India) Ltd. (771.45, 3.2%) was trading at 22.7 times of weekly average. Sundram Fasteners Ltd. (970, -1.4%) and NMDC Steel Ltd. (38.92, 4.4%) were trading with volumes 12.3 and 4.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

3 stocks overperformed with 52 week highs, while 12 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Redington Ltd. (251.51, 0.8%), UPL Ltd. (646.35, -0.1%) and Narayana Hrudayalaya Ltd. (1,396.80, -0.6%).

Stocks making new 52 weeks lows included - Cera Sanitaryware Ltd. (5,826.60, -2%) and Grindwell Norton Ltd. (1,504.25, -1.5%).

17 stocks climbed above their 200 day SMA including Godrej Industries Ltd. (1,131.50, 11.8%) and Affle (India) Ltd. (1,546, 4.4%). 7 stocks slipped below their 200 SMA including Asahi India Glass Ltd. (673.30, -5.7%) and Piramal Pharma Ltd. (209.05, -4.3%).

 
Trendlyne Marketwatch
Trendlyne Marketwatch
20 Feb 2025
Market closes flat, M&M partners with Anduril to develop AI-driven defence systems
By Trendlyne Analysis

Nifty 50 closed at 22,913.15 (-19.8, -0.1%) , BSE Sensex closed at 75,735.96 (-203.2, -0.3%) while the broader Nifty 500 closed at 20,831.10 (99.7, 0.5%). Market breadth is ticking up strongly. Of the 2,411 stocks traded today, 1,722 were on the uptick, and 659 were down.

Nifty 50 closed flat after switching between gains and losses throughout the day. The Indian volatility index, Nifty VIX, fell 4.8% and closed at 14.6 points. Patanjali Foods surged 1.9% as the Supreme Court nullified a Rs 186 crore tax demand. The ruling upheld earlier decisions by the National Company Law Tribunal and Bombay High Court dismissing the Income Tax Department’s claim.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher. Nifty CPSE and BSE Power Indices were among the top index gainers today. According to Trendlyne’s sector dashboard, Telecommunications Equipment emerged as the top-performing sector of the day, with a rise of 3.6%.

Asian indices closed flat or lower, except for Sri Lanka’s CSE All-Share, which closed higher. European indices are trading higher, except for UK’s FTSE 100 and Netherlands’ AEX, which are trading lower. US index futures are trading lower as investors await Walmart’s earnings and assess the Federal Reserve’s latest meeting minutes, which highlight concerns that Trump’s policies could fuel inflation. Brent crude oil futures are trading flat.

  • BSE sees a long buildup in its February 27 futures series, with open interest increasing by 14.1% and a put-call ratio of 0.5.

  • BNP Geojit Paribas upgrades Godrej Properties to 'Hold' from 'Sell' with a lower target price of Rs 2,153 per share. This indicates a potential upside of 3.65. The brokerage remains cautious due to high valuations but expects its revenue to grow as it is well-positioned to capitalise on the strong demand in the premium and luxury segments. It expects the firm's revenue to grow at a CAGR of 37.3% over FY25-27.

  • Tata Power is rising as it partners with Amazon Web Services to use cloud computing, artificial intelligence, and the Internet of Things to accelerate the country’s transition to a greener, smarter, and more consumer-centric energy ecosystem.

  • Adani Group announces a new phase of substantial capital expenditure (capex) growth, with plans to invest over $100 billion (Rs 8 lakh crore) in the next decade. The management highlights that investments will primarily be backed by expanding cash flows, showcasing its improved financial strength and operational resilience, unlike the previous capex cycle that depended heavily on debt.

  • Mahindra & Mahindra rises as it partners with US-based Anduril Industries to develop autonomous maritime systems (AMS) and AI-enabled counter-unmanned aerial systems (CUAS). The collaboration will focus on modular autonomous underwater vehicles and advanced drone threat detection technologies.

  • Intellect Design Arena is rising as its subsidiary bags a multi-year order worth Rs 200 crore from London’s premier market insurance and reinsurance brokerage firm to streamline its insurance policy placement process. The brokerage will utilise Intellect's underwriting ecosystem, including Magic Submission and Xponent solutions built on IntellectAI’s Purple Fabric platform.

  • Larsen & Toubro's minerals & metals (M&M) business vertical secures an order worth Rs 2,500-5,000 crore from Hindalco to set up an 850 KTPA (kilo tonne per annum) greenfield alumina refinery plant in Odisha.

  • Vedanta receives approval from its equity shareholders and creditors for its demerger into five different entities: Vedanta Aluminum, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel & Ferrous Materials, and the existing Vedanta. The demerger, which has obtained no-objection certificates from the BSE and NSE, was initially planned as a six-way split but was revised to five.

  • RateGain Travel Technologies rises sharply as it partners with Thailand’s budget airline Nok Air to enhance pricing strategies using its AI-powered platform, AirGain. The platform analyzes data from 300+ airlines and 50+ online travel agencies (OTAs) to optimize fares and promotions.

  • Orchid Pharma receives Form 483 with seven observations from the US FDA following a surprise inspection at its active pharmaceutical ingredient (API) manufacturing facility in Tamil Nadu.

  • Garden Reach Shipbuilders & Engineers secures a Rs 123.1 crore order from the Ministry of External Affairs, Government of India, for the normal refit of the Mauritius Coast Guard Ship, CGS Barracuda. The warship, built and delivered by GRSE in 2014, is now undergoing refurbishment under this contract.

  • Jefferies suggests that the reciprocal US trade tariffs proposed by US President Donald Trump are unlikely to impact the rupee negatively. However, the brokerage believes these tariffs could impact exports like petrochemicals and pharmaceuticals, which account for about one-fifth of India's exports to the US.

  • Sharekhan retains its 'Buy' call on Marico with a target price of Rs 780 per share. This indicates a potential upside of 21.6%. The brokerage believes that portfolio diversification in the premium foods and personal care products segments will support revenue growth in the long term. It expects the company's revenue to grow at a CAGR of 11.9% over FY25-27.

  • Patanjali Foods announces that the Supreme Court has nullified a Rs 186 crore tax demand related to the pre-corporate insolvency resolution process (CIRP) period. The ruling upholds earlier decisions by the National Company Law Tribunal (NCLT) and Bombay High Court dismissing the Income Tax Department’s claim.

  • India Glycols is rising as it bags an order worth Rs 1,264.2 crore to supply 18.2 crore litres of ethanol to a consortium of Bharat Petroleum Corp, Indian Oil Corp, Hindustan Petroleum Corp, Reliance Industries and Nayara Energy.

  • Cigarette stocks like ITC, VST Industries, and Godfrey Phillips decline around 4% following reports of a potential GST hike on tobacco products by the Centre after the removal of the compensation cess. Currently, cigarettes and other tobacco products are subject to a 28% GST, along with cess and other levies, bringing the total indirect tax to 53%.

  • JBM Auto's subsidiary, JBM Ecolife Mobility, secures a Rs 5,500 crore order under the PM eBus Sewa Scheme-II. The project involves procuring, operating, and maintaining 1,021 electric buses, along with developing electric and civil infrastructure under the gross cost contracting (GCC) model.

  • HFCL is rising as it signs an agreement with Bharat Sanchar Nigam for the BharatNet Phase-III program in the Punjab Telecom Circle. This follows an advance work order worth about Rs 2,501.3 crore. As the project implementation agency, HFCL will lead the project’s execution in Punjab.

  • Servotech Renewable Power System rises as it signs an agreement with France-based Watt & Well SAS to design, manufacture, and sell EV charger components. The agreement will initially develop a 30 kW power module for the Indian EV charging market.

  • Passenger vehicle (PV) manufacturers like Maruti Suzuki India, Hyundai Motor India, Kia India, Tata Motors, and Mahindra & Mahindra (M&M) project single-digit growth for the market in the next financial year (FY26). The car makers attribute this to high repo rates, rupee depreciation, and changing consumer preferences.

  • Rites surges as it signs a memorandum of understanding (MoU) with the Central Water and Power Research Station (CWPRS) under the Ministry of Jal Shakti. The partnership focuses on enhancing engineering consultancy, research, and development in water resources, marine, and inland waterways infrastructure.

  • Waaree Energies is rising as it bags an order from Engie India's arm, Khaba Renewable Energy, to supply solar photovoltaic (PV) modules with a total capacity of 362.5 megawatt-peak (MWp).

  • Cyient is rising as its board appoints Sukamal Banerjee as the new Chief Executive Officer (CEO) and Executive Director for five years, effective February 19.

  • Bharat Forge is rising as its subsidiary, Kalyani Strategic Systems (KSSL), signs a letter of intent (LoI) with US-based AM General to supply Indian-made advanced artillery cannons in the US.

  • Nifty 50 was trading at 22,857.10 (-75.8, -0.3%), BSE Sensex was trading at 75,603.25 (-335.9, -0.4%) while the broader Nifty 500 was trading at 20,660.55 (-70.9, -0.3%).

  • Market breadth is in the red. Of the 1,967 stocks traded today, 894 showed gains, and 1,033 showed losses.

Riding High:

Largecap and midcap gainers today include APL Apollo Tubes Ltd. (1,476.60, 7.0%), NHPC Ltd. (79.80, 6.9%) and Bajaj Holdings & Investment Ltd. (12,454.30, 6.2%).

Downers:

Largecap and midcap losers today include FSN E-Commerce Ventures Ltd. (165.58, -3.0%), HDFC Bank Ltd. (1,687.10, -2.3%) and Maruti Suzuki India Ltd. (12,440.65, -1.9%).

Volume Rockets

20 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Godrej Industries Ltd. (1,011.75, 17.5%), Rajesh Exports Ltd. (185.88, 12.9%) and Piramal Pharma Ltd. (218.51, 9.0%).

Top high volume losers on BSE were JBM Auto Ltd. (609.70, -5.9%), Cyient Ltd. (1,452.55, -1.6%) and Pfizer Ltd. (4,110.05, -0.5%).

Linde India Ltd. (6,173.30, 5.4%) was trading at 12.1 times of weekly average. Amara Raja Energy & Mobility Ltd. (1,045.60, 7.7%) and Just Dial Ltd. (894.50, 6.6%) were trading with volumes 10.9 and 9.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

3 stocks hit their 52 week highs, while 7 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Shree Cements Ltd. (28,600, -0.2%), UPL Ltd. (647.25, -0.4%) and Narayana Hrudayalaya Ltd. (1,404.55, 2.2%).

Stocks making new 52 weeks lows included - Cera Sanitaryware Ltd. (5,945.60, -0.7%) and Grindwell Norton Ltd. (1,540, 0.7%).

15 stocks climbed above their 200 day SMA including Godrej Industries Ltd. (1,011.75, 17.5%) and Piramal Pharma Ltd. (218.51, 9.0%). 6 stocks slipped below their 200 SMA including HCL Technologies Ltd. (1,687.55, -1.5%) and Mazagon Dock Shipbuilders Ltd. (2,154.30, -1.2%).

 
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The Baseline
20 Feb 2025
By Abdullah Shah

With US President Donald Trump imposing retaliatory import tariffs and threatening even more (“It’ll be 25% and higher, and it’ll go very substantially higher over a course of a year”)the world is facing a trade war. Global markets have turned volatile and India’s Nifty 50 index has fallen 1.2% over the past month. 

The ordeal started with President Trump issuing three executive orders on February 1 to impose import tariffs on China, Canada, and Mexico. The US levied a 10% import tariff on all Chinese goods and a 25% duty on imports from Mexico and Canada, effective February 4. However, President Trump delayed the duties on Mexico and Canada for 30 days after reaching deals with them. Trump followed this by imposing another 25% import duty on all steel and aluminium imports, including Canada and Mexico, effective March 12. The duty will also include finished metal products. 

President Trump has indicated further retaliatory tariffs of 25% on imports of automobiles, expected to be rolled out in April 2025 after saying that the EU and India have  unfair taxes on US automobile exports. Trump is also planning  additional 25% import duty on the pharmaceuticals and semiconductor sectors to promote domestic factories in the US. 

With reciprocal tariffs dominating headlines, we look at the countries with the highest tariffs on imports from the US in this chart of the week.

The European Union and India give contrasting responses to the tariffs

In the Union Budget FY26 meeting, India reduced its average import tariff to 10.7% from 11.7% in response to the US's threat of tariffs on pharmaceutical and automotive products. India has reduced customs duties on bourbon whiskey by 50 percentage points to 100% and levies on high-end motorcycles by 20 percentage points to 30%. 

A report by Nomura suggests that even with increased US tariffs from 15-20%, the decline in Indian exports to the US would be approximately 3% to 3.5%. The relatively minor fall is attributed to India's efforts to diversify its export markets, enhance value addition, and develop alternative trade routes. S&P Global Ratings also believes India's economy is more oriented towards domestic products and less reliant on exports, further lowering the effects of tariffs.

The 25% tariffs by the US on steel and aluminium imports will also apply to the European Union (EU) despite the EU signing a free trade agreement with the Biden administration. This is despite European countries like Germany, Ireland, Italy, and France having low import tariffs on US goods due to the US importing a large number of goods from the region. Ireland has an average tariff of 6.5%, while Italy, Germany and France have an import tariff of 2% each. 

European Commission President Ursula von der Leyen said that the EU will take proportionate countermeasures to protect its interests. EU Trade Commissioner Maroš Šefcovic emphasised the potential for these tariffs to fuel inflation and disrupt global trade. The EU is considering various retaliatory measures, including tariffs on iconic American products and potential legal challenges through the World Trade Organization (WTO).

These steel and aluminium tariffs, revoking previous agreements that had allowed tariff-free quotas for UK steel exports, also impact the country’s steel industry. These free trade agreements helped the US with lower import tariffs of 3.8% for US goods in the UK. However, the US is the UK's second-largest steel export market, with approximately 2 lakh tonnes of steel, valued at over £400 million, exported annually. The reintroduction of these tariffs will promote domestic steel production in the US but poses a substantial threat to the UK's steel industry, potentially leading to decreased exports and financial losses. 

China and Canada respond to the US tariffs

After Trump announced the tariffs, Canada responded on February 3 with President Justin Trudeau imposing a 25% duty on imports of all US goods. This was followed by Mexico’s President Claudia Sheinbaum taking tariff and non-tariff measures in defense of Mexico’s interests. 

The moves prompted President Trump to hold talks with the two countries and delay the implementation of the tariffs on Mexico and Canada by 30 days. 

The tariffs will put pressure on consumer prices, contributing to inflation in the US. Federal Reserve officials have expressed concerns that these trade policies could disrupt supply chains and increase costs for businesses and consumers. 

Speaking on the tariffs on Mexico and Canada, the US National Association of Manufacturers President and CEO Jay Timmons said, “A 25% tariff on Canada and Mexico threatens to destroy the very supply chains that have made US manufacturing more competitive globally. Manufacturers will bear the brunt of these tariffs, undermining our ability to sell our products competitively and putting American jobs at risk.”

In response to the US levies, the Chinese Finance Ministry announced a 15% tariff on coal and liquefied natural gas and 10% on crude oil, farm equipment, large-displacement vehicles and pickup trucks from the US. While announcing the tariffs, the Finance Ministry stated, “The unilateral imposition of tariffs by the US seriously violates the rules of the World Trade Organization. It is not only unhelpful in solving its own problems but also damages economic and trade cooperation between China and the US.”

China has also applied export restrictions on critical minerals, such as tungsten, tellurium, ruthenium, molybdenum, and ruthenium-related items.

 
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The Baseline
20 Feb 2025
How pessimistic are Indian CEOs after a weak Q3? | Screener: Multibagger stocks that are beating the bears

When it comes to growth predictions, the biggest optimist in the mix is not the investor or the analyst, but the company management. The CEO rides or dies on the basis of how their company performs. So they can't help wearing rose-colored glasses.

But the Q3 results came out in a pretty bearish market, and have disappointed. Nearly half of the companies announced negative or neutral profit growth. Average revenue growth across the universe is in the low single digits. It's hard to be cheerful in the face of these numbers. 

We take a closer look at what the management focused on, in this results season's earnings calls. CEOs are battling weak domestic demand, rising trade barriers from a confrontational Trump White House, and a slowing global economy. A rising dollar - as Trump keeps talking up reciprocal tariffs - is not helping.  

In this week's Analyticks:

  • Mood Tracker: What are the risks and opportunities CEOs are talking about in earnings calls?
  • Screener: Multibagger stocks that are still beating the bear market

Let's take the temperature.

It's hot under the collar: CEOs discuss their biggest risks

The problem? CEOs talk a lot. The solution? Trendlyne's Discover, which allowed me to search for specific comments and phrases across all earnings calls. This tool saved me a lot of time this week. I didn't have to wade through every line of each earnings call, while my eyesight suffered, my family fell apart and my cat escaped. Instead, my cat is happily sunbathing (proof) while I bring you this data.

When we look at CEO commentary across earnings calls, management is pointing to a challenging economic environment.  

Nikhil Sohoni, CFO at Blue Star, noted that margins have been impacted across key segments, and "we expect the revival to happen only slowly, over the next year." Some industries like cement saw temporary regional weaknesses, like in South India, where prices were depressed since price revisions happen in December. But in most industries, the twin problems of low demand and rising costs are not expected to resolve by Q4. 

The twin monsters of Trump tariffs and inflation

The new US administration has  arrived with the intention to shake things up. President Trump is firing federal workers, letting Elon Musk comb through government databases, and threatening tariffs against major trade partners.

Joe Biden rarely got a mention from Indian CEOs. But Donald Trump looms large in the discussions, especially with major export players, from electronics to auto. 

For CEOs, a worry that comes from Trump tariffs is trouble closing deals. Trump has been making threats with long timelines, where tariffs get imposed in March or April this year. K Natarajan, MD of Galaxy Surfactants, noted that some deal talks have frozen in place as a result, with customers saying that they "want to wait and watch" to see what kind of tariffs get implemented.

The other challenge is in having to realign supply chains. CEOs note that while tariffs will be passed on to customers, companies will have to work to minimize their effects over time. "For the short term, Trump tariffs will have to be passed on to the market," Nikhil Kumar, MD of TD Power says. "In the longer term, we will have to see where we can manufacture where the duties will not apply." 

Other threats, like inflation and rising debt, were mainly raised by CEOs in response to questions from analysts. Many are counting on inflation and interest rates coming down over the next few quarters, making these less of a threat compared to a trade war.

CEO commentary suggests that most think that the worst is behind them. Analysts may discount such optimism, but the management is pointing to lower inflation, and indicators showing recovering manufacturing and services activity. Companies are also responding with new product and capacity investments.

Some industries are also benefiting from growing export markets, despite the broader headwinds. GE Vernova T&D has for instance, seen a rise in large deals from Europe in the energy and utilities sector, as energy transition investments in the EU ramp up.  

The biggest opportunities in specific industries are getting mentions from multiple CEOs. GLP - weight loss drugs - is one of the biggest, with a stream of generic drugs coming in from Indian pharma as patents start to expire in 2026 in Asia and Africa. The electric vehicles ecosystem has also been a strong deals pipeline for auto and auto component manufacturers, even as tariffs loom.

But while areas like defence spending still remain high and lucrative, opportunities like large infrastructure projects may be slowing down. "NHAI projects have become competitively very crowded", the MD of Afcons Infrastructure says, "So we are mainly looking into state level proposals now."

CEOs are hoping that the tax cuts from the Budget will boost domestic demand, and the new RBI leadership will drive interest rate cuts. But for management, uncertainty is the real growth killer. Tariffs now are better than the promise of tariffs later, since the second freezes companies and customers in place. Once the US administration finally drops the hammer, Indian CEOs can make their moves. 

Screener: Multibagger stocks which are rising in the past quarter

Beating the bears: Pharma, metals stocks are among the big gainers

The Indian equity markets have seen a massive sell-off of Rs 63,641.1 crore by foreign investors over the past month after threats of import tariffs from President Donald Trump, resulting in the Nifty 50 falling by 1.5%. In this volatile market, we look at multibagger stocks which have continued their share price growth. This screener shows multibagger stocks rising in the past quarter despite a negative sentiment in the market.

The screener is dominated by stocks from the pharmaceuticals & biotechnology, general industrials, banking & finance, food, beverages & tobacco, and consumer durables sectors. Most notable stocks in the screener are PG Electroplast, Shakti Pumps (India), Wockhardt, Godfrey Phillips India, BSE, Blue Jet Healthcare, Sarda Energy & Minerals, and Lloyds Metals & Energy. 

PG Electroplast features in the screener after rising 318.5% in the past year. This consumer electronics company has continued this trend in recent months, rising 24.5% in the past quarter after posting positive results in Q3FY25. Its revenue and net profit grew by 81.6% YoY to Rs 974.9 crore and 106.2% YoY to Rs 39.5 crore, respectively. 

Higher sales of air conditioners and washing machines contributed to revenue growth. The company’s stock price also surged after signing an agreement with Whirlpool of India on December 24, 2024. PG Electroplast will manufacture some of the stock-keeping units (SKUs) for semi-automatic watching machines for Whirlpool at its facility in Roorkee. 

Shakti Pumps has risen 189.5% in the last year. This industrial machinery company’s stock price increased by 11.3% in the past quarter, driven by strong Q3FY25 results. Its revenue grew by 31.3% YoY to Rs 652.7 crore on the back of an improvement in sales in the domestic market. On the other hand, net profit increased by 130.2% YoY to Rs 104.1 crore, owing to deferred tax returns during the quarter. 

The company’s stock price also got a boost after it entered a partnership with ReNew Photovoltaic on February 3 to supply a domestic content requirement (DCR) cell-based solar module worth Rs 1,300 crore. Its board of directors also approved raising Rs 400 crore by issuing equity shares through a qualified institutional placement (QIP) in January.

You can find some popular screeners here.

 
Trendlyne Marketwatch
Trendlyne Marketwatch
19 Feb 2025
Market closes flat, Arkade Developers bags a redevelopment project with a GDV of Rs 740 crore
By Trendlyne Analysis

Nifty 50 closed at 22,932.90 (-12.4, -0.1%), BSE Sensex closed at 75,939.18 (-28.2, 0.0%) while the broader Nifty 500 closed at 20,731.45 (120.1, 0.6%). Market breadth is overwhelmingly positive. Of the 2,422 stocks traded today, 1,838 were gainers and 562 were losers.

Indian indices closed flat after paring gains in the afternoon session. The Indian volatility index, Nifty VIX, fell 1.6% and closed at 15.4 points. Rail Vikas Nigam closed 13.1% higher after securing an order worth Rs 554.5 crore from Rail Infrastructure Development Company (Karnataka) to build nine stations for the Bengaluru Suburban Rail Project.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green. BSE Capital Goods and BSE Consumer Durables were among the best-performing indices of the day. According to Trendlyne’s sector dashboard, Telecommunications Equipment emerged as the highest-performing sector of the day, with a rise of 4.3%.

European indices are trading in the red. Major Asian indices closed mixed. US index futures are trading flat in anticipation of the rates being unchanged at the Fed meeting later today. HSBC Holdings, Analog Devices, Carvana, Manulife Financial Corp, and ENI SpA. are set to report their earnings later today.

  • Relative strength index (RSI) indicates that stocks like Carborundum Universal, Whirlpool of India, G R Infraprojects, and Atul are in the oversold zone.

  • Geojit BNP Paribas maintains its 'Buy' call on Bajaj Finance with a target price of Rs 9,521 per share. This indicates a potential upside of 12.9%. The brokerage expects the company's asset quality to remain stable and the Airtel partnership to drive customer growth. It expects the firm's net interest income (NII) to grow at a CAGR of 20.2% over FY25-27.

  • Netweb Technologies rises to its 10% upper limit as it launches Skylus.ai, a platform for managing graphics processing unit (GPU) resources across different vendors. It helps organizations optimize GPU and central processing unit (CPU) usage for artificial intelligence and generative AI workloads while reducing costs.

  • Tata Consultancy Services (TCS) partners with MassRobotics to drive robotics innovation in North America. TCS will collaborate with startups, researchers, and industry experts to explore applications across retail, travel, transportation, hospitality, and consumer goods.

  • According to NSE data, DIIs have invested Rs 1.2 lakh crore in equities since January, while FIIs sold shares worth Rs 1.1 lakh crore. Jefferies warns that the steady inflow of retail funds into India’s equity mutual funds may slow as market returns weaken, potentially impacting Asia’s fourth-largest equity market.

  • Lemon Tree Hotels surges as it signs a license agreement for a new hotel for its Red Fox by Lemon Tree Hotels property in Bhopal, Madhya Pradesh, set to open in FY27. Lemon Tree's wholly-owned subsidiary, Carnation Hotels, will manage the property.

  • Ashok Leyland secures a Rs 297.9 crore order to supply 320 BS VI diesel low-floor buses to Tamil Nadu State Transport Corp (TNSTC). The buses will feature iGen 6 BS VI technology, with deliveries scheduled between June and August 2025.

  • Anand Rathi maintains its 'Buy' call on MOIL with a target price of Rs 400 per share. This indicates a potential upside of 28.6%. The brokerage believes the company is well-positioned to capitalise on the country's steel growth owing to its strong market share, higher-quality ore, and strategic mine locations. It expects the firm's revenue to grow at a CAGR of 24.9% over FY25-27.

  • Nuvama Alternative & Quantitative Research expects Zomato and Jio Financial Services will enter the Nifty 50 in the March 2025 reshuffle, with estimated inflows of Rs 5,25,000 crore ($631 million) and Rs 2,65,000 crore ($320 million), respectively. The firm believes these stocks will replace BPCL and Britannia in the benchmark index.

  • Arkade Developers is rising as it secures the redevelopment rights for Nutan Ayojan, a co-operative housing society in Malad West, Mumbai, with an estimated gross development value (GDV) of Rs 740 crore.

  • Container Corporation of India rises as it awards a Rs 689.8 crore contract to Braithwaite & Co. to manufacture and supply 30 BLSS (spine car) rakes, with deliveries set for completion by August 11.

  • NAVA is rising as its board approves a Rs 360 crore buyback of 72 lakh equity shares at Rs 500 per share. It sets February 28 as the record date for the buyback.

  • A State Bank of India report highlights that India's economy has demonstrated resilience despite global uncertainties. SBI forecasts the GDP growth for Q3FY25 to range between 6.2-6.3%, supported by high-frequency indicators. A stable rural economy, steady wage growth, and robust agricultural performance drive the positive outlook.

  • Tata Steel is rising as it receives approval from the Neath Port Talbot Council to set up an electric arc furnace for steelmaking in Port Talbot. The company expects the facility to be operational by the end of 2027.

  • Larsen & Toubro rises as it acquires the remaining 26% stake in L&T Special Steels and Heavy Forgings from Nuclear Power Corp of India (NPCIL) for Rs 170 crore, making it a wholly-owned subsidiary.

  • Mahindra Lifespace Developers is rising as it partners with Livingstone Infra for a cluster redevelopment project in Mahalaxmi, Mumbai, with an estimated gross development value (GDV) of Rs 1,650 crore.

  • Defence stocks like DCX Systems, Zen Technologies, and Data Patterns (India) rise after Defence Secretary Rajesh Kumar Singh announced relaxations in the FDI (Foreign Direct Investment) policy and industrial licensing to boost sector growth. He also emphasizes the need for an annual expenditure of Rs 2,40,000 crore ($30 billion) over the next decade to modernise India's defence forces.

  • Aurobindo Pharma is falling sharply as it receives five observations from the US FDA following a pre-approval inspection (PAI) at Eugia Steriles in Andhra Pradesh.

  • Hexaware Technologies' shares debut on the bourses at a 5.3% premium to the issue price of Rs 708. The Rs 8,750 crore IPO received bids for 2.7 times the total shares on offer.

  • Ami Organics is rising as its board of directors schedules a meeting on February 21 to consider a proposal for the sub-division / split of equity shares.

  • Macquarie forecasts a 14% CAGR growth for the CRDMO (contract research, development, and manufacturing) sector, reaching approximately Rs 1,16,000 crore ($14 billion) by FY28. Additionally, it believes the US Biosecure Act will boost growth in the Indian CDMO sector into the late teens. The brokerage names Divi’s Labs and Suven Pharma as its top picks, citing strong margin expansion prospects. It initiates an 'Outperform' rating for both companies, setting target prices of Rs 4,700 and Rs 1,500, respectively.

  • Cipla invests ZAR 900 million (~Rs 424.9 crore) in its subsidiary, Cipla Medpro South Africa Proprietary, for 4.1 crore shares.

  • Transformers & Rectifiers (India) is rising as it secures an order worth Rs 166.5 crore from Hyosung T&D India to manufacture and supply single-phase coupling transformers and single-phase transformers for Tariff-Based Competitive Bidding (TBCB) projects.

  • Piramal Pharma is falling as it receives Form 483 with six observations from the US FDA after conducting a good manufacturing practices (GMP) inspection at its Turbhe facility.

  • Rail Vikas Nigam is rising as it secures an order worth Rs 554.5 crore from Rail Infrastructure Development Company (Karnataka) to build nine stations for the Bengaluru Suburban Rail Project. The work includes civil construction, foot overbridges, roofing, and electrical and mechanical installations.

  • Nifty 50 was trading at 22,859.25 (-86.1, -0.4%), BSE Sensex was trading at 75,640.68 (-326.7, -0.4%) while the broader Nifty 500 was trading at 20,546.65 (-64.8, -0.3%)

  • Market breadth is in the green. Of the 1,941 stocks traded today, 1,122 showed gains, and 771 showed losses.

Riding High:

Largecap and midcap gainers today include Rail Vikas Nigam Ltd. (376.85, 13.1%), Mazagon Dock Shipbuilders Ltd. (2,180.10, 11.1%) and Suzlon Energy Ltd. (54.16, 7.0%).

Downers:

Largecap and midcap losers today include Adani Green Energy Ltd. (864.70, -3.7%), LTIMindtree Ltd. (5,470.10, -3.5%) and Phoenix Mills Ltd. (1,554.30, -2.9%).

Movers and Shakers

15 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Bikaji Foods International Ltd. (656.15, 15.4%), Aegis Logistics Ltd. (761.30, 14.8%) and Tata Investment Corporation Ltd. (5,944.45, 13.6%).

Top high volume losers on BSE were Zydus Lifesciences Ltd. (891.45, -2.5%) and Aurobindo Pharma Ltd. (1,135.20, -2.4%).

TTK Prestige Ltd. (693.65, 2.3%) was trading at 15.8 times of weekly average. Minda Corporation Ltd. (548.05, 9.3%) and Data Patterns (India) Ltd. (1,544.85, 8.5%) were trading with volumes 9.9 and 8.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

3 stocks overperformed with 52 week highs, while 36 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Kotak Mahindra Bank Ltd. (1,985, 1.1%), Shree Cements Ltd. (28,655.15, 1.0%) and UPL Ltd. (650.05, 3.1%).

Stocks making new 52 weeks lows included - Bharat Heavy Electricals Ltd. (195.09, 4.6%) and Zydus Lifesciences Ltd. (891.45, -2.5%).

17 stocks climbed above their 200 day SMA including Aegis Logistics Ltd. (761.30, 14.8%) and Mazagon Dock Shipbuilders Ltd. (2,180.10, 11.1%). 6 stocks slipped below their 200 SMA including Crisil Ltd. (4,706.70, -3.4%) and Jubilant Pharmova Ltd. (968.45, -3.4%).