My Newsfeed

Trendlyne Marketwatch
Trendlyne Marketwatch
30 Jan 2025
Market closes higher, Adani Ports' Q3 net profit misses Forecaster estimates by 1.8%

Nifty 50 closed at 23,249.50 (86.4, 0.4%), BSE Sensex closed at 76,759.81 (226.9, 0.3%) while the broader Nifty 500 closed at 21,297.50 (52, 0.2%). Market breadth is horizontal. Of the 2,397 stocks traded today, 1,227 were gainers and 1,145 were losers.

Indian indices closed in the green, with the benchmark Nifty 50 index closing at 23,249.5 points. The Indian volatility index, Nifty VIX, fell 6.7% and closed at 17.4 points. Tata Motors fell to its 52-week low of Rs 683.2 as its Q3FY25 net profit declined 22.4% YoY to Rs 5,451 crore due to higher inventory, employee benefits, and product development expenses.

Nifty Smallcap 100 and Nifty Midcap 100 closed flat. NIFTY CPSE and NIFTY PSE Index were among the top index gainers today. According to Trendlyne’s sector dashboard, Telecom Services emerged as the top-performing sector of the day, with a rise of 2.2%.

Asian indices closed mixed. European indices are trading mixed. US index futures are trading in the green, indicating a positive start to the trading session as investors review earnings reports from major tech companies. Brent crude oil futures are trading lower. The Federal Reserve has kept interest rates steady at 4.3-4.5%. Chair Jerome Powell stated that the central bank is in no rush to lower rates.

  • Union Bank of India sees a short buildup in its January 30 futures series, with open interest increasing by 71.9% and a put-call ratio of 1.2.

  • Adani Ports falls sharply as its net profit misses Forecatser estimates by 1.8% despite rising 14.1% YoY to Rs 2,520 crore in Q3FY25, helped by share of profit form JVs. Revenue increases 15.1% YoY to Rs 7,963.6 crore due to improvements in port and special economic zone activities. It appears in a screener of stocks underperforming their industry price change over the past quarter.

  • Granules India is rising as its wholly-owned subsidiary, Granules Pharmaceuticals, receives final approval from the US FDA for its abbreviated new drug application (ANDA) for Lisdexamfetamine Dimesylate Capsules. The drug is a bioequivalent and therapeutic equivalent to Takeda Pharmaceutical's Lisdexamfetamine Dimesylate, used to treat attention deficit hyperactivity disorder (ADHD) and severe binge eating disorder (BED) in adults. Its market size is expected to reach $35.2 billion by 2030.

  • Bajaj Finserv is falling as its Q3FY25 net profit misses Forecaster estimates by 3.4% despite growing 3.4% YoY to Rs 2,231 crore in Q3FY25, helped by lower claims and insurance & investment contract expenses. Revenue increases 10.3% YoY to Rs 32,041.8 crore, driven by improvements in the life & general insurance and retail financing segments. It shows up in a screener of stocks with declining cash flow from operations over the past two years.

  • Jefferies downgrades Tata Motors to an 'Underperform' rating and cuts the target price to Rs 660. The brokerage notes weak demand for JLR in China and Europe, rising customer acquisition costs, and higher warranty expenses. It also highlights muted demand for commercial and passenger vehicles and increased competition in the electric vehicle market as additional challenges for the company.

  • PTC Industries signs a memorandum of understanding (MoU) with the Government of Odisha to set up an aerospace-grade Titanium Sponge manufacturing facility in the state. The facility will produce Titanium Sponge, alloy ingots, forged billets, rolled bars, rods, sheets, plates, and precision castings.

  • Blue Dart Express' net profit declines by 8.9% YoY to Rs 81 crore in Q3FY25 due to higher freight, handling & servicing, employee benefits, and tax expenses. However, revenue grows by 9.3% YoY to Rs 1,511.7 crore during the quarter. It appears in a screener of stocks with declining return on capital employed (RoCE) over the past two years.

  • Brigade Enterprises is rising as its net profit surges 3.2x YoY to Rs 236.2 crore in Q3FY25, owing to an 87.6% YoY decline in land purchase expenses. Revenue grows 26.6% YoY to Rs 1,529.7 crore, attributed to improvements in the real estate, hospitality, and leasing segments. It features in a screener of stocks with rising net profit margins QoQ and trailing twelve months (TTM).

  • Ravi Singh, Senior Vice-President at Religare Broking, notes rising speculation about potential changes to the Securities Transaction Tax (STT) and Long-Term Capital Gains (LTCG) tax ahead of the 2025 Budget. He believes the government will likely consider raising the LTCG exemption limit from around Rs 1.3 lakh, which could help investors retain more of their gains.

  • Info Edge (India) is rising as its board of directors schedules a meeting on February 5 to consider a proposal for the sub-division / split of equity shares. The board will also announce the company's Q3FY25 results during the meeting.

  • JK Paper is falling sharply as its Q3FY25 net profit plunges 72.2% YoY to Rs 65.4 crore due to higher raw materials and employee benefits expenses. Revenue declines 6.1% YoY to Rs 1,654.3 crore, impacted by the reduction in the paper and packaging segment. It shows up in a screener of stocks with declining net profit for the past three quarters.

  • Bajaj Finance rises sharply as its net profit grows 16.7% YoY to Rs 4,246.5 crore in Q2FY25. Revenue increases 27.3% YoY to Rs 18,035.1 crore, driven by a 28% YoY growth in assets under management (AUM). It appears in a screener of stocks with improving book value over the past two years.

  • Prices of daily groceries and personal grooming products are set to increase by 2-4% as packaged goods makers aim to offset inflationary pressures on margins. Companies like Hindustan Unilever and Emami note that key commodity prices have surged over the past year, outweighing the deflation in crude oil prices.

  • Bajaj Healthcare receives approval from the Drug Controller General of India (DCGI) to manufacture Pimavanserin capsules' active pharmaceutical ingredient (API) and drug formulation. Pimavanserin is an atypical antipsychotic used to treat hallucinations and delusions in Parkinson’s disease psychosis.

  • Jindal Stainless is rising as its Q3FY25 net profit beats Forecaster estimates by 7.4% despite declining 5.4% YoY to Rs 654.8 crore due to higher raw materials, inventory, employee benefits, finance, stores & spares, and power & fuel expenses. Revenue grows 9.2% YoY to Rs 10,006.4 crore during the quarter. It appears in a screener of stocks with rising net cash flow and cash from operating activities.

  • GR Infraprojects is rising as it emerges as the lowest bidder for a Rs 262.3 crore western railway project. The contract covers gauge conversion of a 38.9 km track from Kosamba to Umarpada in Vadodara, including bridges, station amenities, and infrastructure work.

  • The Ministry of Heavy Industries (MHI) urges the Finance Ministry to lower the Goods and Services Tax (GST) rate on two-wheelers powered by compressed natural gas (CNG) in the upcoming budget. Currently, CNG two-wheelers attract a 28% GST, and MHI suggests reducing this levy to a more appropriate level.

  • Garden Reach Shipbuilders & Engineers is rising as it signs a memorandum of understanding with Apollo Micro Systems. The partnership focuses on joint research, development, and supply of underwater weapons, vehicles, mines, communication systems, and air defense systems.

  • Natco Pharma receives approval from the US FDA for its abbreviated new drug application (ANDA) for Everolimus tablets for oral suspension (TFOS). The drug is a generic version of Novartis Pharmaceutical's Afinitor Disperz, used to treat paediatric patients with tuberous sclerosis complex (TSC). It has an estimated market size of $112 million for the year ending September 2024.

  • Azad Engineering rises sharply as it bags an order worth $90.1 million (~ Rs 811 crore) from Siemens Energy Global GmBH. The order involves the supply of combustion commodities, cold blades & vanes, and machined parts & assemblies for advanced turbine systems over the next six years.

  • Pavitra Shankar, MD of Brigade Enterprises, highlights the company’s healthy inventory levels, with a 12-month supply in Bangalore. She also adds that there are no concerns regarding cash flows. In addition, the company expects to float its hospitality business IPO in the coming months.

  • Afcons Infrastructure is rising as it bags an order worth Rs 1,283 crore from DP World's Hindustan Gateway Container Terminal Kandla to design and construct a marine package for the container terminal at Tuna Tekra.

  • Voltas is plunging as its net profit misses Forecaster estimates by 17.2% despite posting a net profit of Rs 132.1 crore in Q3FY25 compared to a net loss of Rs 30.4 crore in Q3FY24, helped by inventory destocking. Revenue grows 17.9% YoY to Rs 3,164.2 crore, driven by improvements in the unitary cooling products and electro-mechanical projects & services segments. It shows up in a screener of stocks with declining returns on capital employed (RoCE) over the past two years.

  • Hitachi Energy India rises sharply as its net profit surges 5X YoY to Rs 137.4 crore in Q3FY25, driven by inventory destocking and higher order backlog. Revenue increases 27.2% YoY to Rs 1,620.3 crore, helped by improved execution mix and operational efficiencies during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

  • Tata Motors falls sharply as its Q3FY25 net profit declines 22.4% YoY to Rs 5,451 crore due to higher inventory, employee benefits, and product development expenses. However, revenue grows 2.9% YoY to Rs 1.2 lakh crore, driven by increased Jaguar & Land Rover (JLR) sales. It shows up in a screener of stocks linked to ongoing regulatory investigations.

  • Nifty 50 was trading at 23,158.80 (-4.3, 0.0%), BSE Sensex was trading at 76,520.87 (-12.1, 0.0%) while the broader Nifty 500 was trading at 21,259.90 (14.4, 0.1%).

  • Market breadth is in the green. Of the 1,914 stocks traded today, 1,197 were on the uptrend, and 678 went down.

Riding High:

Largecap and midcap gainers today include SRF Ltd. (2,831.15, 6.2%), Solar Industries India Ltd. (10,063.70, 5.2%) and Suzlon Energy Ltd. (55.40, 5.0%).

Downers:

Largecap and midcap losers today include Voltas Ltd. (1,269.30, -13.9%), Tata Motors Ltd. (696.85, -7.4%) and ABB India Ltd. (5,719.35, -6.4%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Hitachi Energy India Ltd. (12,277.50, 20%), Archean Chemical Industries Ltd. (605.45, 10.6%) and JBM Auto Ltd. (1,507.25, 7.7%).

Top high volume losers on BSE were Whirlpool of India Ltd. (1,260.80, -20%), Voltas Ltd. (1,269.30, -13.9%) and Deepak Fertilisers & Petrochemicals Corporation Ltd. (1,120.90, -13.6%).

Olectra Greentech Ltd. (1,424.45, 7.5%) was trading at 19.9 times of weekly average. CIE Automotive India Ltd. (465.75, 2.8%) and Solar Industries India Ltd. (10,063.70, 5.2%) were trading with volumes 8.5 and 8.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

3 stocks made 52 week highs, while 5 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Bajaj Finance Ltd. (7,901.65, 1.8%), SRF Ltd. (2,831.15, 6.2%) and Zensar Technologies Ltd. (860.05, 1.1%).

Stocks making new 52 weeks lows included - Sun Pharma Advanced Research Company Ltd. (157.83, -0.8%) and Tata Motors Ltd. (696.85, -7.4%).

34 stocks climbed above their 200 day SMA including Hitachi Energy India Ltd. (12,277.50, 20%) and Granules India Ltd. (564.45, 5.5%). 7 stocks slipped below their 200 SMA including Kaynes Technology India Ltd. (4,725.65, -4.6%) and Lemon Tree Hotels Ltd. (134.88, -3.0%).

 
logo
The Baseline
30 Jan 2025
RBI tries to not drop the icecream | Screener: Stocks with FIIs and MFs increasing shareholding
By Swapnil Karkare

India's current Central Bank problem is a bit like the challenge Indian kids face. Indian parents want you to be all three things at once - super smart, good-looking, and socially savvy, ready to jump up and make conversation when neighbour aunty drops in.

This trinity of skills is of course, near-impossible to achieve (although said parents will always claim that some distant cousin possesses all three).

Central banks face a similar problem. They have three goals —keep the currency stable, allow free flow of money across borders, and set interest rates to suit the country’s needs. But they can’t achieve all three at once. Economists call this the ‘impossible trinity.’

India's RBI has historically focused on free money flows and controlling interest rates, while not trying to stabilize the rupee. But in recent years under Shaktikanta Das, it changed course, and worked hard to keep the rupee’s value stable.

To do this, the central bank sold dollars and bought rupees, which reduced rupee availabilty and artificially boosted its value. As a result, money flow tightened, even as GDP growth slowed.

Now, it looks like the RBI is shifting focus back to rupee liquidity, instead of controlling the currency's value. It announced this week that it will inject Rs. 600 billion ($18 billion) into the economy to address the worst cash crunch in a decade.

Like Indian kids, the RBI must make some hard choices. And it has apparently decided to stop trying to control the value of the rupee, and let it depreciate.

In this week's Analyticks:

  • A tightrope walk for RBI: Under the new RBI governor, the Central Bank is making different choices
  • Screener: Stocks where foreign investors and mutual funds have increased their stake

A strong dollar is a challenge for emerging markets

The US economy post-Covid has been stronger than other developed markets, with solid economic growth and low unemployment.But its interest rates have stayed high due to inflation.

High rates have drawn global investors, who are piling money into US assets. The dollar as a result has strengthened steadily in the last few years.

A strong dollar has been tough on emerging markets

Over the past year, emerging market (EM) currencies took a huge hit. The Egyptian Pound lost more than half its value over the last year. Latin American countries such as Mexico, Argentina, and Brazil saw their currencies depreciate 18-30%, while Polish, Thai and Vietnamese currencies depreciated the least (<2%). Following Trump's victory, EM currencies fell by an average of 2-4%.

When currencies depreciate, imports such as fuel, get expensive, straining budgets. As these countries slip into the red, foreign investors lose confidence and start selling their investments. This further weakens these currencies.

The RBI kept battling a strong dollar

Former Chief Economic Advisor Arvind Subramanian, Josh Felman, and Abhishek Anand say that the RBI changed how it managed the rupee in the last two years. The data for the Real Effective Exchange Rate (REER) Index, a measure of the rupee’s intrinsic value, showed that before 2022, the rupee moved a lot due to events like the global financial crisis (2008), the taper tantrum (2013), and crises in Turkey and the IL&FS default (2018).

But since 2022, the rupee became very stable. They compare this stability to the flat cricket pitch at the Melbourne Cricket Ground. This suggests that the RBI has kept the rupee steady, almost pegging it to the US dollar.

In 2025, 2013 still haunts policymakers

Whenever EM currencies take a hit, the scars of the 2013 ‘Taper Tantrum’ resurface for policymakers.

After the 2008 global financial crisis, the US Fed started buying government and corporate bonds through a program called quantitative easing (QE). The objective was simple: By buying bonds, money would flow into the system and lower interest rates.

In May 2013, then-Fed Chairman Ben Bernanke announced that the Fed might reduce its bond purchases sooner than expected due to improving economic conditions. This meant that the dollar would likely strengthen, and US interest rates would rise.

The dollar didn't surge, but EM currencies depreciated sharply. Countries like Brazil, India, Indonesia, South Africa, and Turkey, known at the time as the ‘Fragile Five’, saw their currencies drop by over 10% in just four months. The Fragile Five had high current account deficits (spending more on imports than they earned from exports) and heavy reliance on foreign investments.

The Indian rupee was hit the hardest, depreciating by 22%, worsening the current account deficit, pushing inflation to double digits, and slowing economic growth. 

But EMs, including India, took this as a wake-up call. Today, they are better prepared, as highlighted by Nomura.


Emerging Markets rise to the dollar challenge

The past few months have been challenging for many EM central banks, but they've acted quickly. Indonesia and Malaysia for example, asked commodity and state firms to bring overseas earnings back into their countries to boost their currencies. South Korea sold won debt for the first time in 21 years to defend its currency and increase forex reserves. China limited yuan lending in Hong Kong to support its value. Brazil's central bank intervened by selling $21.57 billion in the spot market in December, along with currency swaps and spot auctions. It's hard to say for sure, but there's hope that these measures could help steady these economies.

And what is the RBI doing?

Back home, RBI sold a record $81 billion from its reserves since October 2024 as it worked to keep the value of the Indian rupee up. India’s forex reserves stood at $705 billion on September 27, but is now down to $624 billion.

Since December, the RBI started course-correcting. To address the rising cash crunch in the economy, it cut the cash reserve ratio (CRR) by 50 basis points to allow banks to lend more, and has conducted variable rate repo (VRR) auctions so that banks can borrow more funds from the RBI.

These measures will pour more money into the system. And when there’s more cash in the system, banks are more willing to offer loans at lower rates. Analysts also believe that this liquidity push means that RBI is getting ready to cut the interest rate.

2025 is a different story from 2013

Now that RBI has stopped defending the rupee, the market will likely decide the rupee's value. The rupee could fall as far as 90-95 against the dollar, according to analysts.

While a falling rupee may make imports more expensive and raise inflation, its a challenge the central bank can handle. Fortunately, India is far healthier in 2025 compared to 2013.

Screener: Stocks where foreign investors and mutual funds have increased their stake

FIIs and MFs increase their holdings in banks and NBFCs

As the shareholding data for Q3FY25 comes in, we look at stocks where foreign institutional investors (FIIs) and mutual funds (MFs) bought the most stakes. This screener shows stocks with the highest FII and MF holding increases in the latest quarter. 

The screener is dominated by stocks from the banking, capital markets, IT consulting & software, and auto parts & equipment industries. Major stocks featured in the screener are Home First Finance, IDFC First Bank, GE Vernova T&D India, PNB Housing Finance, BSE, Godrej Properties, DOMS Industries, and Amber Enterprises. 

Home First Finance features in the screener with the highest QoQ growth of 12.3 percentage points in FII holding in Q3FY25, while its MF holding increased by 4.9 percentage points QoQ. This comes after the housing finance company’s promoters, Aether (Mauritius) and True North Fund V LLP, sold a combined 9% stake in the company through the open market in December 2024. Home First's stock price has declined 1.2% over the past year. 

Notable FIIs that bought the sold shares are Smallcap World Fund Inc (bought a 2.9% stake), Government Pension Fund Global (bought a 2.6% stake), and Goldman Sachs Funds - Goldman Sachs India Equity (bought a 1% stake). The largest MF buyers include Hdfc Mutual Fund - Hdfc Banking And Financial Serv (bought a 4.1% stake).

GE Vernova T&D India also appears in the screener after FIIs and MFs increased their stake in the company by 5.2 percentage points QoQ and 2.7 percentage points QoQ, respectively in Q3FY25. This industrial machinery stock’s promoters sold an 8.4% stake through an offer for sale (OFS) worth Rs 3,324.9 crore at a floor price of Rs 1,550 per share. This stake sale was likely a profit booking by the promoters after its stock price surged by 152.8% over the past year.

You can find some popular screeners here.

 
Trendlyne Marketwatch
Trendlyne Marketwatch
29 Jan 2025
Market closes higher, Maruti Suzuki's board reappoints Hisashi Takeuchi as its MD & CEO
By Trendlyne Analysis

Nifty 50 closed at 23,163.10 (205.9, 0.9%), BSE Sensex closed at 76,532.96 (631.6, 0.8%) while the broader Nifty 500 closed at 21,245.50 (320.8, 1.5%). Market breadth is ticking up strongly. Of the 2,400 stocks traded today, 1,936 were gainers and 435 were losers.

Indian indices closed higher, with the benchmark Nifty 50 index closing at 23,163.1 points. The Indian volatility index, Nifty VIX, rose 2.4% and closed at 18.6 points. Denta Water and Infra Solutions' shares made their debut on the bourses at a 10.5% premium to the issue price of Rs 294. The Rs 220.5 crore IPO received bids for 221.7 times the total shares on offer.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher, following the benchmark index. Nifty Realty and Nifty India Digital closed in the green. According to Trendlyne’s sector dashboard, Fertilizers emerged as the best-performing sector of the day, with a rise of 3.9%.

European indices are trading in the green, except for France’s CAC 40. Major Asian indices closed mixed. US index futures are trading mixed, indicating a cautious start to the trading session. The US Federal Reserve, meeting for the first time in 2025, will announce its policy decisions later today. Investors also look ahead to earnings releases from Microsoft, Meta, Tesla, ASML, and IBM.

  • Money flow index (MFI) indicates that stocks like Chalet Hotels, Netweb Technologies, Sanofi India, and VIP Industries are in the oversold zone.

  • Arkade Developers rises sharply as it acquires a Rs 165 crore land parcel from Aspen Properties in Goregaon West, Mumbai. The project covers over 5 lakh sq. ft. and is expected to generate Rs 2,000 crore in revenue.

  • Maruti Suzuki India's revenue rises 15.7% YoY to Rs 38,764.3 crore in Q3FY25, while its net profit grows 16.2% YoY to Rs 3,726.9 crore. The company's board of directors approves the merger of its subsidiary, Suzuki Motor Gujarat with itself. It also reappoints Hisashi Takeuchi as its Managing Director (MD) & Chief Executive Officer (CEO) for three years, effective April 1.

  • Indian Bank rises sharply as its Q3FY25 net profit grows 34.6% YoY to Rs 2,852.4 crore owing to lower provisions for nonperforming assets (NPAs) and taxes. Revenue increases 11.3% YoY to Rs 17,912 crore, led by improvements in the treasury, retail, and corporate banking segments. The bank's asset quality improves as its gross and net NPAs decline by 121 bps YoY and 32 bps YoY, respectively.

  • Nestle is set to announce its Q3FY25 results on Friday, January 31. Motilal Oswal expects a 5% YoY sales growth driven by improved demand. However, the brokerage forecasts a slight decline in gross profit and EBITDA margins due to higher raw material costs. Gross profit for Q3 is projected at Rs 2,802.3 crore, down from Rs 2,845.2 crore last year.

  • Triveni Turbine is rising as it secures a Rs 290 crore order from NTPC for a 160 megawatt-hour (MWh) CO2-based standalone energy storage system (ESS) at NTPC Kudgi in Karnataka.

  • Mahindra & Mahindra Financial Services is rising as its net profit grows 47.4% YoY to Rs 917.6 crore in Q3FY25, helped by lower impairment on financial instruments. Revenue increases 16% YoY to Rs 4,799.5 crore, attributed to an improvement in financing activities. It features in a screener of stocks with rising revenue over the past eight quarters.

  • Piramal Pharma rises as its revenue grows 12.5% YoY to Rs 2,204.2 crore in Q3FY25. However, net profit falls 63.6% YoY to Rs 3.7 crore due to a 6.8X increase in tax expenses. The company features in a screener of stocks underperforming their industry price change over the past quarter.

  • India's fiscal deficit is estimated at 5.6% for FY24, with the government aiming to reduce it to 4.9% in FY25 and further lower it to below 4.5% by FY27. Ravi Singh, Senior VP at Religare Broking, notes that a 4.5% fiscal deficit target announcement could boost the stock market, as it reflects fiscal consolidation while allowing for essential capital expenditures.

  • Bosch falls sharply as its net profit declines 11.5% YoY to Rs 458.7 crore in Q3FY25 due to higher raw materials, inventory, employee benefits, and finance costs. However, revenue grows 6.8% YoY to Rs 4,654.7 crore, helped by improvements in the automotive products and consumer goods segments. It shows up in a screener of stocks with prices below short, medium, and long-term averages.

  • GMR Airports is rising as it posts a net profit of Rs 266.8 crore in Q3FY25, compared to a net loss of Rs 317.5 crore in Q3FY24, driven by improvements in asset value changes, property tax, and interest waiver. Revenue increases 19.2% YoY to Rs 2,653.2 crore during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Star Health and Allied Insurance falls as its Q3FY25 net profit falls 25.7% YoY to Rs 215.1 crore due to higher commission & brokerage and claims paid. Revenue grows 15.6% YoY to Rs 4,001.2 crore, helped by increased retail and corporate health premiums. The company appears in a screener of stocks near their 52-week low.

  • ITC Hotels lists Rs 180 on NSE, in line with analyst estimates. Nuvama's analysis of ITC Hotels' demerger highlights its inclusion in the MSCI Global Small Cap indices as a significant milestone. The brokerage expects this to enhance the company's visibility among global investors and attract more fund inflows.

  • JSW Infrastructure rises sharply as its net profit grows 31.6% YoY to Rs 329.8 crore in Q3FY25 owing to lower employee benefits expenses and a Rs 124.7 crore deferred tax return. Revenue increases 24.3% YoY to Rs 1,265.3 crore, driven by improvements in the ports and logistics segments. It features in a screener of stocks where FIIs increased their shareholding.

  • KPI Green Energy rises to its 5% upper limit as it signs a memorandum of understanding (MoU) with the Government of Odisha to establish Renewable Energy Parks in Ganjam district, Odisha.

  • Denta Water and Infra Solutions' shares debut on the bourses at a 10.5% premium to the issue price of Rs 294. The Rs 220.5 crore IPO received bids for 221.7 times the total shares on offer.

  • Arun Mishra, CEO of Hindustan Zinc, expects zinc prices to range between $2,850-2,950 per tonne and silver prices at around $30-31 per ounce. He projects the company’s FY25 silver volumes at approximately 700 tonnes and zinc volumes to grow by 3% YoY. Mishra projects a decrease in production costs due to a higher share of renewable energy in the power mix.

  • JSW Energy falls sharply as its Q3FY25 net profit declines 27.4% YoY to Rs 167.8 crore due to higher fuel, employee benefits, finance, and depreciation & amortisation expenses. Revenue decreases 0.8% YoY to Rs 2,640 crore, caused by a reduction in the thermal and renewables businesses. It shows up in a screener of stocks where promoters are increasing pledged shares QoQ.

  • Va Tech Wabag is rising as it secures a $14 million (approximately Rs 121 crore) contract from BAPCO Refining to operate and maintain an industrial wastewater treatment plant in Bahrain for seven years.

  • Bharat Heavy Electricals rises sharply as its net profit surges 123.3% YoY to Rs 134.7 crore in Q3FY25, attributed to inventory destocking and lower finance costs. Revenue grows 31.9% YoY to Rs 7,385 crore, led by an improvement in the power and industry segments. It appears in a screener of stocks with consistently highest returns over the past five years.

  • Jefferies maintains a 'Buy' rating on ITC with a target price of Rs 550. The brokerage suggests the upcoming union budget will be crucial for tobacco taxation. It believes a 5-9% tax hike would be challenging but manageable for the company through a 3-4% price increase. Jefferies also notes that tobacco taxes were last adjusted in 2023, increasing by 2% per stick.

  • L&T Technology Services is rising as it secures a multiyear, $80 million (approximately Rs 692 crore) deal with a US-based manufacturer of industrial products and solutions. The contract involves setting up a Center of Excellence (CoE) in India to support digital transformation and product lifecycle management.

  • Home First Finance Company India's board of directors approves raising funds worth up to Rs 1,250 crore through a qualified institutional placement (QIP) of equity shares.

  • Bajaj Auto rises sharply as its Q3FY25 net profit grows 8% YoY to Rs 2,195.7 crore, helped by inventory destocking. Revenue increases 7.9% YoY to Rs 13,516.4 crore, driven by improvements in the automotive, investment, and financing segments. It features in a screener of stocks with strong QoQ earnings per share (EPS) growth.

  • Suzlon Energy is rising as its net profit grows 90.6% YoY to Rs 386.9 crore in Q3FY25, beating Forecaster estimates by 20.1%. Revenue increases 90.7% YoY to Rs 2,974.8 crore, driven by higher sales from wind turbine generators, foundry & forging, and operation & maintenance service segments during the quarter. It features in a screener of stocks with increasing revenue every quarter for the past two quarters.

  • Nifty 50 was trading at 23,033.10 (75.9, 0.3%) , BSE Sensex was trading at 76,138.24 (236.8, 0.3%) while the broader Nifty 500 was trading at 21,008.85 (84.1, 0.4%)

  • Market breadth is highly positive. Of the 1,912 stocks traded today, 1,425 were gainers and 446 were losers.

Riding High:

Largecap and midcap gainers today include Linde India Ltd. (6,260, 10.9%), CG Power and Industrial Solutions Ltd. (625.75, 8.8%) and Zomato Ltd. (222.50, 6.9%).

Downers:

Largecap and midcap losers today include JSW Energy Ltd. (474.75, -5.8%), Bosch Ltd. (28,155.70, -5.5%) and Ambuja Cements Ltd. (522.10, -3.9%).

Volume Rockets

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

Top high volume gainers on BSE included Inox Wind Ltd. (161.50, 19.7%), Deepak Fertilisers & Petrochemicals Corporation Ltd. (1,296.55, 15.9%) and Gujarat Mineral Development Corporation Ltd. (322.40, 13%).

Top high volume losers on BSE were Jupiter Wagons Ltd. (363, -8.3%), JSW Energy Ltd. (474.75, -5.8%) and Bosch Ltd. (28,155.70, -5.5%).

Kansai Nerolac Paints Ltd. (237.45, 2.6%) was trading at 10.4 times of weekly average. JM Financial Ltd. (108.69, 1.5%) and NMDC Steel Ltd. (41.37, 8.4%) were trading with volumes 9.4 and 9.4 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 10 stocks were underachievers and hit their 52 week lows.

Stock touching their year highs included - JK Cement Ltd. (4,886, 1.1%).

Stocks making new 52 weeks lows included - Bharat Heavy Electricals Ltd. (199.86, 6.5%) and Nestle India Ltd. (2,180.70, 1.1%).

31 stocks climbed above their 200 day SMA including Lemon Tree Hotels Ltd. (139.01, 6.4%) and Kaynes Technology India Ltd. (4,955.45, 6.3%). 5 stocks slipped below their 200 SMA including Poly Medicure Ltd. (2,269.10, 0.2%) and 360 One Wam Ltd. (1,021.55, 0.8%).

 
logo
The Baseline
28 Jan 2025
Five stocks to buy from analysts this week - January 28, 2025
By Ruchir Sankhla

1. Persistent Systems:

Motilal Oswal reiterates its ‘Buy’ rating on this IT consulting firm with a target price of Rs 7,600. This indicates an upside potential of 28.6%. In Q3FY25, the company reported a net profit growth of 14.8% QoQ to Rs 373 crore. Revenue rose 5.5% QoQ to Rs 3,104.9 crore, led by improvements in the banking, financial services & insurance (BFSI), healthcare & life sciences, and hi-tech segments. 

Analysts Abhishek Pathak, Keval Bhagat, and Tushar Dhonde highlight that the company targets a revenue of $2 billion (~Rs 17,302 crore) by FY27 and $5 billion (~Rs 43,255 crore) by FY31. To achieve this, it plans to strengthen relationships with its top 100 clients, diversify into new areas like private equity, and develop 12-15 growth engines within three main verticals.

Pathak, Bhagat, and Dhonde expect a growth of 24.2% YoY in revenue, 27.3% YoY in EBIT, and 22.9% YoY in net profit for Q4FY25, with BFSI and Hi-Tech to be the fastest-growing sectors. They also expect a CAGR of 20.1% in sales and 23.4% in net profit over FY25-27.

2. V2 Retail:

Edelweiss maintains a ‘Buy’ rating on this department stores company with a target price of Rs 2,230. This indicates an upside potential of 25%. In Q3FY25 the company’s net profit rose 1.2X YoY to Rs 51.2 crore. Revenue grew 58.1% YoY to Rs 590.9 crore, driven by higher same-store sales growth and footprint expansion.

The company added 21 new outlets in the quarter, bringing its total store count to 160 as of Q3. Its retail footprint now covers approximately 17.2 lakh sq ft, a 51% YoY growth. Analyst Palash Kawale highlights that the management plans to open 20-25 more stores in Q4 which will take its FY25 store additions to around 70. He mentions that the company aims to be a national level value retail player in the next 4-5 years, with plans to add 100 stores in FY26 and focusing 80% of these additions in existing states.

Kawale expects a CAGR of 44.1% in revenue, 54.3% in revenue and 82.1% in net profit over FY25-27 on aggressive store additions, reaching 282 stores by FY27.

3. Polycab India:

BOB Capital Markets upgrades its rating to ‘Buy’ on this electrical equipment company with a target price of Rs 8,090. This indicates an upside potential of 42.6%. In Q3FY25 its net profit grew by 10.8% YoY to Rs 457.6 crore. Revenue rose 20.4% YoY to Rs 5,226.1 crore, driven by growth in wires & cables, and fast-moving electrical goods (FMEG). 

Analyst Arshia Khosla points out that the international business saw a 62% YoY growth, contributing 8.3% to the company’s overall revenue. He notes that the company has introduced project Spring, which sets targets for FY30. These include growing its wires and cables business 1.5X faster than the industry and achieving domestic EBITDA margins of 11-13%. Additionally, it aims to expand international business share to 10% of total sales, helped by capital expenditure of Rs 6,000-8,000 crore over five years.

Khosla expects revenue to grow at a CAGR of 18.2% and net profit at 22.6% from FY25-27. The stock is in the PE Sell Zone, currently trading above its historical PE.

4. Karur Vysya Bank:

Emkay reiterates its ‘Buy’ rating on this bank with a target price of Rs 325, indicating a potential upside of 44.5%. In Q3FY25, Karur Vysya Bank (KVB) reported a credit growth of 14.6% YoY, driven by growth across most segments. However, its corporate loan book declined by ~5% due to planned reductions in low-yielding loans. Net interest margin (NIM) fell by 29 bps to 4%, mainly due to slower growth in high-yield segments like personal loans (PL), vehicle finance (VF), and microfinance (MFI), along with higher cost of funds (CoF).

KVB’s gross non-performing asset (GNPA) ratio improved by 75 bps YoY to 0.8%, thanks to lower gross slippages, higher write-offs, and better recoveries. Analysts Anand Dama, Nikhil Vaishnav, and Kunaal N highlighted that the bank’s MFI book of Rs 350 crore is mostly in Telangana, Andhra Pradesh, Karnataka, and Tamil Nadu, and has not seen any significant decline in quality. Additionally, the bank is setting aside funds to manage any potential risks to its assets, with a contingency buffer of Rs 100 crore and floating provisions of Rs 75 crore.

KVB is in the PE Buy Zone, currently trading below its historical PE. Dama, Vaishnav, and Kunaal expect the bank to maintain a return on assets (RoA) of 1.7% and a return on equity (RoE) of 17-18% over FY25-27.

5. Dalmia Bharat:

Axis Direct maintains a ‘Buy’ rating on this cement products manufacturer with a target price of Rs 2,000. This indicates a potential upside of 10.3%. The company's performance in Q3FY25 was affected by a 2% YoY decline in volume, leading to a 540 bps drop in its EBITDA margin. 

However, the management expects Dalmia’s cement grinding capacity to increase to 49.5 million tonnes per annum (MTPA) by FY25, up from the current 46.6, which should support volume growth. Analysts Uttam Srimal and Shikha Doshi say, “We expect the company to achieve a 7.5% CAGR in volume growth over FY25-26.”

Dalmia Bharat highlighted that cement prices remained steady in Q3, with its management expecting a slight hike in Q4FY25. However, they ruled out any significant price increases due to heightened competition. To address performance declines, the company aims to reduce costs by Rs 150-200 per tonne over the next two years by improving operating efficiency.

Srimal and Doshi are optimistic about strong demand from infrastructure development, driven by large-scale projects and affordable housing initiatives. They project revenue to grow at a CAGR of 5% and net profit at 13% over FY25-26.

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

(You can find all analyst picks here

 
Trendlyne Marketwatch
Trendlyne Marketwatch
28 Jan 2025
Market closes higher, Cipla's net profit beats Forecaster estimates by 30.5% in Q3FY25
By Trendlyne Analysis

Nifty 50 closed at 22,957.25 (128.1, 0.6%) , BSE Sensex closed at 75,901.41 (535.2, 0.7%) while the broader Nifty 500 closed at 20,924.75 (13.8, 0.1%). Market breadth is overwhelmingly negative. Of the 2,410 stocks traded today, 692 were in the positive territory and 1,695 were negative.

Indian indices closed in the green, with the benchmark Nifty 50 index closing at 22,957.3 points. The Indian volatility index, Nifty VIX, rose 0.4% and closed at 18.2 points. Cipla closed higher as its net profit beat Forecaster estimates by 30.5% after growing 48.7% YoY to Rs 1,570.5 crore in Q3FY25, driven by lower finance costs and improved inventory.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red. Nifty Realty and Nifty Financial Services were among the top index performers today. According to Trendlyne’s Sector dashboard, Banking & Finance emerged as the best-performing sector of the day, with a rise of 1.2%.

Asian indices closed mixed. Most European indices are trading in the green, except Russia’s RTSI and MOEX indices, which are trading 0.3% lower each. US index futures are trading in the green, following the Nasdaq sell-off on Monday. Brent crude oil futures are trading higher. President Donald Trump plans to impose import tariffs on computer chips, semiconductors, pharmaceuticals, and metals.

  • Relative strength index (RSI) indicates that Britannia Industries is in the overbought zone.

  • Route Mobile falls as its Q3FY25 net profit falls 21.9% YoY to Rs 82.5 crore due to higher messaging services costs and employee benefits expenses. Revenue grows 15.6% YoY to Rs 1,183.8 crore, helped by improved India and overseas sales. The company appears in a screener of stocks near their 52-week low.

  • Cipla is rising as its net profit beats Forecaster estimates by 30.5% as it grows 48.7% YoY to Rs 1,570.5 crore in Q3FY25, driven by lower finance costs and improved inventory. Revenue increases 7.1% YoY to Rs 7,072.97 crore during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

  • Federal Bank is falling sharply as its net profit declines 5.1% YoY to Rs 955.4 crore in Q3FY25 due to higher provisions, interest, and employee benefits expenses. However, revenue grows 17.2% YoY to Rs 7,724.9 crore, driven by improvements in the treasury, retail, and corporate banking segments. The bank's asset quality improves as its gross and net NPAs decline by 34 bps YoY and 15 bps YoY, respectively.

  • Most foreign banks and brokerages expect the Reserve Bank of India (RBI) to cut rates by 25bps during the MPC meeting on February 7, after keeping the policy rate at 6.5% since February 2023. Radhika Rao, Senior Economist at DBS Group, expects a 25bps cut to initiate a gradual rate reduction cycle, noting that improved liquidity will aid transmission as the meeting nears.

  • Apar Industries falls sharply as its revenue misses Forecaster estimates by 1.5% despite rising 17.7% YoY to Rs 4,716.4 crore in Q3FY25, helped by strong performance in the conductors and power cables segments. Net profit falls 19.6% YoY to Rs 174.9 crore due to higher raw material, inventory, and employee benefits expenses. The company appears in a screener of stocks with an increasing trend in non-core income.

  • 360 One Wam's net profit grows 43.9% YoY to Rs 276.5 crore in Q3FY25. Revenue increases 20.6% YoY to Rs 759.8 crore, driven by improvements in the wealth and asset management segments. It features in a screener of stocks outperforming their industry price change over the past quarter.

  • Aurobindo Pharma's wholly-owned subsidiary, Apitoria Pharma, receives an establishment inspection report (EIR) with a voluntary action indicated (VAI) status from the US FDA for its Unit-2 API manufacturing facility in Sanga Reddy District, Telangana.

  • Nomura upgrades Balkrishna Industries to a 'Buy' rating with a target price of Rs 3,242. The brokerage highlights the company’s Q3FY25 earnings were in line with expectations. It notes Balkrishna Industries' efforts to expand in key markets like India and the US, with a more significant push planned for the US beginning in FY26. Nomura underlines strong growth in regions like Africa and the Middle East, contributing to a more diversified revenue base.

  • Indraprastha Gas' Q3FY25 net profit declines 31.5% YoY to Rs 326.6 crore due to higher inventory, excise duty, and depreciation & amortisation expenses. However, revenue grows 6.4% YoY to Rs 4,234.5 crore, led by higher sales of compressed natural gas (CNG) and piped natural gas (PNG). It shows up in a screener of stocks with an increasing trend in non-core income.

  • IIFL Finance, IIFL Capital Services, and 360 One Wam fall as the Income Tax (IT) Department conducts search operations at IIFL Group's Mumbai office over alleged multi-crore tax evasion. The raids began early on January 28.

  • Bajaj Housing Finance rises sharply as its net profit grows 25.4% YoY to Rs 548 crore in Q3FY25. Revenue increases 25.8% YoY to Rs 2,449 crore, driven by higher assets under management (AUM), loan assets, and interest income. It shows up in a screener of stocks with reducing debt.

  • Jairam Sampath, Whole-Time Director & CFO of Kaynes Technology India, projects revenue of Rs 3,000 crore in FY25 and Rs 4,500 crore in FY26. He highlights the company’s orderbook grew by 59% YoY to Rs 6,047 crore in Q3. Sampath adds that Kaynes plans a QIP to support inorganic growth and expand into new geographies.

  • Maharashtra Seamless is falling as its net profit declines 32.6% YoY to Rs 186.1 crore in Q3FY25 due to higher material costs. Revenue decreases 1.6% YoY to Rs 1,408.1 crore, driven by lower sales from the steel pipes and tubes segment during the quarter. The company appears in a screener of stocks where mutual funds decreased their shareholding over the past quarter.

  • Piramal Enterprises' revenue declines 1.7% YoY to Rs 2,502.2 crore in Q3FY25. However, it reports a net profit of Rs 38.6 crore during the quarter, compared to a net loss of Rs 2,377.6 crore in Q3FY24. It shows up in a screener of stocks with high interest payments compared to earnings.

  • Atul falls as its net profit misses Forecaster estimates by 12.9% despite rising 53.3% YoY to Rs 108.7 crore in Q3FY25. Revenue grows 24.5% YoY to Rs 1,416.8 crore, driven by improvements in life science chemicals and performance & other chemicals segments. The company features in a screener of stocks with increasing revenue for the past four quarters.

  • B&K Securities downgrades CDSL to a 'Sell' rating with a lower target price of Rs 1,100, citing a decline in revenue from lower transaction charges, online data fees, and other income. Nuvama also reduces the target price to Rs 1,510, highlighting weak secondary market volumes and the potential negative impact on primary market activity.

  • Larsen & Toubro secures an order worth Rs 1,000-2,500 crore to build Uzbekistan's first AI-enabled and sustainable 10-megawatt data centre in Tashkent.

  • Petronet LNG is falling as its Q3FY25 net profit declines 25.7% YoY to Rs 901.7 crore due to higher employee benefits and depreciation & amortisation expenses. Revenue decreases 16.6% YoY to Rs 12,423.1 crore during the quarter. It shows up in a screener of stocks with declining revenue for the past four quarters.

  • Tata Power's wholly-owned subsidiary, Tata Power Renewable Energy, secures a contract worth Rs 455 crore from Maharashtra State Power Generation Company (MSPGCL). The contract includes supplying 300 megawatt peak (MWp) of Approved List of Models and Manufacturers (ALMM)-certified solar modules for the Mukhyamantri Saur Krushi Vahini Yojana (MSKVY) 2.0 project.

  • Nakul Jain, Managing Director and CEO of Paytm Payments Services (PPSL), tenders his resignation to pursue an entrepreneurial venture. This follows Paytm's resubmission of its payment aggregator license application to the RBI after an earlier rejection over non-compliance with FDI norms.

  • Emami is rising as its net profit grows 8% YoY to Rs 279 crore in Q3FY25, helped by lower inventory expenses. Revenue increases 5.1% YoY to Rs 1,064.4 crore during the quarter, attributed to an improvement in the domestic business. It appears in a screener of stocks in the buy zone with high momentum scores.

  • Tata Steel is rising as its Q3FY25 revenue beats Forecaster estimates by 1.8% despite falling 3% YoY to Rs 53,869.3 crore due to a reduction in the Indian, South East Asian, and trade-related operations segments. Net profit declines 36.4% YoY to Rs 326.6 crore due to higher raw materials, inventory, and depreciation & amortisation expenses. It features in a screener of stocks with above-line growth and below-line valuations.

  • Union Bank of India is rising as its Q3FY25 net profit grows 28.2% YoY to Rs 4,603.6 crore. Revenue increases 6.3% YoY to Rs 26,957.9 crore, helped by improvements in the treasury, retail, and wholesale segments. The bank's asset quality improves as its gross and net NPAs decline by 98 bps YoY and 26 bps YoY, respectively.

  • Coal India is falling as its net profit declines 16% YoY to Rs 8,505.6 crore in Q3FY25, driven by higher cost of materials and contractual expenses. Revenue decreases 1% YoY to Rs 35,779.8 crore during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Nifty 50 was trading at 22,926.35 (97.2, 0.4%), BSE Sensex was trading at 75,659 (292.8, 0.4%) while the broader Nifty 500 was trading at 20,979.20 (68.3, 0.3%).

  • Market breadth is in the green. Of the 1,984 stocks traded today, 1,105 were gainers and 841 were losers.

Riding High:

Largecap and midcap gainers today include Cholamandalam Investment & Finance Company Ltd. (1,241.70, 5.7%), Balkrishna Industries Ltd. (2,706.15, 5.5%) and Bank of India (109.51, 5.0%).

Downers:

Largecap and midcap losers today include Petronet LNG Ltd. (290.55, -6.5%), JSW Energy Ltd. (504, -5.7%) and Gujarat Fluorochemicals Ltd. (3,345, -5.5%).

Volume Rockets

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

Top high volume gainers on BSE included Jammu & Kashmir Bank Ltd. (95.71, 7.6%), Aadhar Housing Finance Ltd. (391.10, 7.4%) and Cholamandalam Investment & Finance Company Ltd. (1,241.70, 5.7%).

Top high volume losers on BSE were Anant Raj Ltd. (534.50, -20%), Apar Industries Ltd. (7,173.70, -20.0%) and Hitachi Energy India Ltd. (9,621.75, -12.0%).

Piramal Enterprises Ltd. (950.15, 3.9%) was trading at 10.0 times of weekly average. IIFL Finance Ltd. (350.05, -2.2%) and Linde India Ltd. (5,641.10, -0.7%) were trading with volumes 8.5 and 8.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

73 stocks were underachievers and hit their 52 week lows.

Stocks making new 52 weeks lows included - Bata India Ltd. (1,240.85, 0.2%) and Bharat Heavy Electricals Ltd. (187.62, -3.6%).

8 stocks climbed above their 200 day SMA including Shree Cements Ltd. (26,044.50, 3.6%) and Manappuram Finance Ltd. (190.98, 3.5%). 43 stocks slipped below their 200 SMA including Anant Raj Ltd. (534.50, -20%) and Apar Industries Ltd. (7,173.70, -20.0%).

 
Trendlyne Marketwatch
Trendlyne Marketwatch
27 Jan 2025
Market closes lower, Intellect Design's Q3 net profit grows 33% QoQ to Rs 70.2 crore
By Trendlyne Analysis

Nifty 50 closed at 22,829.15 (-263.1, -1.1%), BSE Sensex closed at 75,366.17 (-824.3, -1.1%) while the broader Nifty 500 closed at 20,910.95 (-408.0, -1.9%). Market breadth is highly negative. Of the 2,439 stocks traded today, 217 were in the positive territory and 2,202 were negative.

Indian indices closed in the red, with the benchmark Nifty 50 index closing at 22,829.2 points. The Indian volatility index, Nifty VIX, rose 8.3% and closed at 18.1 points. Adani Wilmar’s net profit surged by 104.5% YoY to Rs 411 crore in Q3FY25. Revenue rose by 31.4% YoY to Rs 16,859 crore, owing to improvements in the edible oil, food & FMCG, and industry essentials segments.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, following the benchmark index. S&P BSE SME IPO and Nifty Media were among the top index losers today. According to Trendlyne’s Sector dashboard, Telecommunications Equipment emerged as the worst-performing sector of the day, with a fall of 5.8%.

Asian indices closed lower, while European indices are trading in the red. US index futures traded in the red, indicating a cautious start to the trading session. Brent crude oil futures are trading in the green. Goldman Sachs maintains an optimistic 2025 outlook, expecting progress toward the 2% US inflation target, a modest recovery in the labor market, and US GDP growth above consensus forecasts. The bank anticipates continued decline in the YoY inflation rate and views rate cuts as reasonable, though not essential.

  • Money flow index (MFI) indicates that stocks like Netweb Technologies, Sanofi India, and Apollo Tyres are in the oversold zone.

  • Trident falls to its new 52-week low of Rs 28 as its net profit declines 26.7% YoY to Rs 79.7 crore in Q3FY25. Revenue decreases 9.2% YoY to Rs 1,667.1 crore due to lower sales in yarn, towel, bedsheets, and paper & chemicals segment during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Exicom Tele-Systems signs a memorandum of understanding (MoU) with Tesco ChargeZone to develop and deploy over 500 high-power electric vehicle charging stations across India. Exicom will develop & supply the charging solutions for ChargeZone's upcoming hubs and public locations.

  • Intellect Design Arena's Q3FY25 net profit grows 32.9% QoQ to Rs 70.2 crore, helped by lower finance costs. Revenue increases 6.5% QoQ to Rs 624.8 crore, driven by an improvement in the platform and annual maintenance contract (AMC) segments. It appears in a screener of stocks with rising net cash flow and cash from operating activities.

  • JP Morgan initiates coverage on Vishal Mega Mart with an 'Overweight' rating and a target price of Rs 125. The brokerage points out its extensive pan-India presence with over 650 stores, noting that these are among the fastest-growing and most profitable retail chains with significant scale. It forecasts a CAGR of 18% in revenue and 28% in earnings per share from FY25 to FY27.

  • Adani Wilmar rises sharply as its net profit surges by 104.5% YoY to Rs 411 crore in Q3FY25. Revenue rises by 31.4% YoY to Rs 16,859 crore, owing to improvements in the edible oil, food & FMCG, and industry essentials segments. The company appears in a screener of stocks with improving book value over the past two years.

  • DAM Capital Advisors rises sharply as its Q3FY25 net profit surges 144.7% YoY to Rs 51.4 crore. Revenue grows 131.6% YoY to Rs 104 crore on the back of an improvement in the stock broking and investment banking segments. It features in a screener of stocks with high volumes and high gains.

  • Ceigall India emerges as the lowest bidder for a Rs 923 crore National Highways Authority of India's (NHAI) project, involving the development of a 6-lane southern Ludhiana bypass under the Ludhiana-Ajmer economic corridor. The estimated cost of the project is Rs 865 crore.

  • The stainless steel industry is hoping for a reduction of import duties to zero on critical raw materials not available in India, along with higher customs duties on stainless steel products and fixed tariff values. The Indian Stainless Steel Development Association (ISSDA) emphasizes the need for strategic measures to strengthen the domestic sector, promote sustainability, and improve global competitiveness.

  • NTPC is falling as its net profit declines 1.8% YoY to Rs 5,062.5 crore in Q3FY25 due to higher fuel, electricity, and depreciation & amortisation expenses. However, revenue grows 4.6% YoY to Rs 45,598 crore, attributed to an improvement in the power generation segment. It shows up in a screener of stocks with RSI indicating price weakness.

  • IDFC First Bank hits a 52-week low of Rs 57.4 as its Q3FY25 net profit falls 53.5% YoY to Rs 339.4 crore, due to higher provisions in its microfinance portfolio. However, revenue increases 18.4% YoY to Rs 11,122.9 crore, driven by improvements in the treasury and retail segments. The bank's asset quality improves, with gross and net NPAs declining by 10 bps and 16 bps YoY, respectively.

  • DLF rises sharply as its Q3FY25 net profit grows 61.2% YoY to Rs 1,058.7 crore, helped by a deferred tax refund of Rs 820.3 crore and increase in revenue from its subsidiaries and joint ventures (JVs). Revenue increases by 5.7% YoY to Rs 1,737.5 crore, led by an improvement in new sales bookings. It features in a screener of stocks with increasing return on equity (RoE) over the past two years.

  • The Reserve Bank of India's surprise purchase of government bonds on Monday led to a drop in bond yields and increased expectations of an interest rate cut in February. BofA Global Research anticipates a 25bps reduction in the repo rate to 6.25% during the February MPC meeting and expects the RBI to take further steps to inject durable liquidity, such as considering a 50bps cut in the cash reserve ratio (CRR) or significant bond purchases via open market operations.

  • Yes Bank rises as its net profit surges by 155.3% YoY to Rs 619.4 crore in Q3FY25, helped by a reduction in provisions & contingencies. Revenue increases by 14.2% YoY due to improvements in the treasury, corporate, and retail banking segments. The bank’s asset quality also improves, with gross and net NPAs contracting by 40 bps YoY.

  • KEC International secures orders worth Rs 1,445 crore for transmission and distribution (T&D) projects in India. The orders include 800 kilovolt (kV) high-voltage direct current (HVDC) and 400 kV transmission line projects from Power Grid Corporation of India.

  • JK Cement's revenue falls marginally by 0.2% YoY to Rs 2,930.3 crore in Q3FY25. Net profit declines 33.2% YoY to Rs 189.6 crore due to higher inventory, freight & forwarding and employee benefits expenses. The company appears in a screener of stocks with decreasing profits for the past three quarters.

  • UltraTech Cement is reportedly in advanced talks to acquire Heidelberg Cement India, the Indian-listed arm of German cement giant Heidelberg, which owns a 69.4% stake in the firm. Other major Indian cement players, including the Adani Group and JSW Cement, have also shown interest in the company.

  • Godrej Consumer Products is falling as its net profit declines 14.2% YoY to Rs 498.3 crore in Q3FY25 due to higher raw materials, inventory, employee benefits, finance, depreciation & amortisation, and advertisement & publicity expenses. However, revenue grows 3.3% YoY to Rs 3,851.5 crore, driven by an improvement in the Indian and Indonesian markets. It appears in a screener of stocks where promoters decrease holding by more than 2% QoQ.

  • Bank of India is rising as its Q3FY25 net profit grows 36.6% YoY to Rs 2,516.7 crore. Revenue increases 21.6% YoY to Rs 19,956.9 crore, helped by an improvement in the treasury, retail, and wholesale segments. The bank's asset quality improves as its gross and net NPAs decline by 166 bps YoY and 56 bps YoY, respectively.

  • Macrotech Developers rises sharply as its net profit surges 87.6% YoY to Rs 944.4 crore in Q3FY25, helped by a tax refund of Rs 228.3 crore. Revenue grows 40.1% YoY to Rs 4,146.6 crore, driven by an improvement in presales and collections. It features in a screener of stocks with the highest foreign institutional investor (FII) holdings.

  • Satyanarayana Chava, CEO of Laurus Labs, states that 40% of the company's revenue comes from the anti-retroviral (ARV) business. He expects the company to achieve a 20% EBITDA margin by FY25 and anticipates strong orders in the Contract Development and Manufacturing Organization (CDMO) segment. Chava also emphasizes that he does not foresee any impact on the ARV business in 2025, as a significant portion of the revenue comes from US customers.

  • Torrent Pharmaceuticals is rising as its net profit grows 13.5% YoY to Rs 503 crore in Q3FY25, driven by lower finance cost and inventory destocking. Revenue increases 2.8% YoY to Rs 2,809 crore during the quarter. The company appears in a screener of stocks outperforming their industry price change in the quarter.

  • ICICI Bank is rising as its Q3FY25 net profit grows 14.8% YoY to Rs 11,792.4 crore. Revenue increases 13.1% YoY to Rs 48,376.9 crore, helped by an improvement in the treasury, retail, and corporate banking segments. The bank's asset quality improves as its gross and net NPAs decline by 34 bps YoY and 2 bps YoY, respectively.

  • InterGlobe Aviation's net profit falls 18.3% YoY to Rs 2,448.8 crore in Q3FY24 due to higher aircraft & engine rental, repair & maintenance cost, and foreign exchange loss. However, revenue grows by 13.7% YoY to Rs 22,110.7 crore during the quarter. The company features in a screener of stocks with improving cash flow from operations over the past two years.

  • JSW Steel is falling as its net profit plunges 70.3% YoY to Rs 717 crore in Q3FY25 due to higher inventory, finance, depreciation & amortisation, and power & fuel expenses. Revenue declines 1.4% YoY to Rs 41,525 crore, caused by lower realisations in steel. It shows up in a screener of stocks with high promoter pledges.

  • Indian markets slumped today. Nifty 50 was trading at 22,926.75 (-165.5, -0.7%), BSE Sensex was trading at 75,700.63 (-489.8, -0.6%) while the broader Nifty 500 was trading at 21,081.85 (-237.1, -1.1%).

  • Market breadth is moving down. Of the 2,038 stocks traded today, 192 were on the uptrend, and 1,794 went down.

Riding High:

Largecap and midcap gainers today include Bank of India (104.29, 6.0%), IDBI Bank Ltd. (80.31, 4.6%) and Adani Wilmar Ltd. (261.20, 3.7%).

Downers:

Largecap and midcap losers today include IDFC First Bank Ltd. (56.73, -8.9%), Supreme Industries Ltd. (3,546.30, -6.8%) and Info Edge (India) Ltd. (6,995, -6.1%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Bank of India (104.29, 6.0%), Sobha Ltd. (1,194, 5.1%) and Sumitomo Chemical India Ltd. (505.85, 4.4%).

Top high volume losers on BSE were Anant Raj Ltd. (668.10, -17.5%), Caplin Point Laboratories Ltd. (1,899.20, -11.5%) and Laurus Labs Ltd. (534.65, -11.3%).

LMW Ltd. (14,948.30, -6.0%) was trading at 9.7 times of weekly average. TBO Tek Ltd. (1,563.15, -2.2%) and Ingersoll-Rand (India) Ltd. (3,586, -5.3%) were trading with volumes 8.1 and 7.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

1 stock took off, crossing 52 week highs, while 70 stocks tanked below their 52 week lows.

Stock touching their year highs included - JK Cement Ltd. (4,786.30, 0.6%).

Stocks making new 52 weeks lows included - 3M India Ltd. (29,265, 0.5%) and Apollo Tyres Ltd. (419.55, -0.9%).

2 stocks climbed above their 200 day SMA including Sumitomo Chemical India Ltd. (505.85, 4.4%) and ICICI Bank Ltd. (1,227.95, 1.6%). 46 stocks slipped below their 200 SMA including Newgen Software Technologies Ltd. (1,057.15, -10%) and Aditya Birla Sun Life AMC Ltd. (643.45, -9.2%).

 
logo
The Baseline
24 Jan 2025
Five Interesting Stocks Today - January 24, 2025
By Trendlyne Analysis

1. Zomato:

This internet software & services company has declined by 10.9% over the past week after announcing its Q3FY25 results on January 20. Its net profit declined 57.2% YoY to Rs 59 crore due to investments in expanding Blinkit's store network. The quick commerce (Blinkit) business reported a loss of Rs 103 crore, a 14% increase YoY and nearly doubling QoQ.

Over the past two quarters, Zomato added 368 new stores (152 in Q2FY25 and 216 in Q3FY25), incurring over Rs 370 crore in capital expenditure. The company's total store count stands at 1,007 as of Q3 FY25. Deepinder Goyal, MD and CEO of the company said, “We will get to our target of 2,000 stores by December 2025, much earlier than our previous guidance of December 2026.” This expansion is expected to increase losses due to the ramp-up time for new stores.

Akshant Goyal, Chief Financial Officer of the company said, “We do expect the investments in Blinkit to go up. And as a result, the losses will go up in the next one or two quarters.” The management expects Blinkit's profitability to improve once the current phase of aggressive store expansion slows down, which is expected after they reach their 2,000-store target in December 2025.

Despite the lower profitability, Zomato’s revenue grew by 61.3% YoY to Rs 5,657 crore, driven by higher sales across all its businesses. Its food ordering & delivery business saw a growth of 21.6% YoY, its hyperpure (B2B supplies) business rose 94.5% YoY, and its quick commerce (Blinkit) business surged ~1.2X YoY.

The company’s going-out segment saw a 2.5X YoY growth in revenue. Commenting on this business, Zomato’s senior executive, Rahul Ganjoo said, “We expect this business to grow at more than 40% YoY at least for the next couple of years.”

Post results, Motilal Oswal reiterated its “Buy” rating on the stock but lowered the target price to Rs 270 from Rs 320. The brokerage attributed this to reduced profitability caused by higher capital expenditures and increased investments in expanding the dark store network amid intense competition. It expects the company to add 4,000 stores between FY25-30 and achieve a revenue CAGR of 53.3% over FY25-27.

2. Coforge:

ThisIT consulting & software firm surged over 12% on Thursday following the announcement of its Q3 results. This rise was fueled by CEO Sudhir Singh’sstatement that “They (Verticals at Coforge) are all not just growing, but they're all growing very robustly.” The company also announced theacquisition of a US-based firm Xceltrait for $17.9 million. This will help Coforge expand its services in the property & casualty insurance industry.

In Q3, the companyreported QoQ revenue growth of 8.4% at Rs 3,318 crore, with net income up 5% at Rs 268 crore. Revenue beatForecaster estimates by 3.5%, while net profit missed estimates marginally. The firm signed four large deals (over $5 million) in Q3, with a total order intake of $501 million. EBITDA improved by 122 bps sequentially, driven by the improvement in operating efficiency of Cigniti Technologies (Coforge took over operations in July last year).

Coforgederives 56% of its revenue from the Americas, around 34% from Europe, Middle East & Africa (EMEA) and the rest from other regions. Of its total revenue, around 45% comes from services in banking, finance & insurance. With easing interest rates in the US, the firm witnessed significant traction in its business from the Americas, resulting in a YoY revenue surge of 69.2% from the region.

Commenting on the operations of Cigniti Technologies, Singhsaid, “Two quarters post-acquisition, EBITDA margin for Cigniti has improved from 12% (in Q1) to 17.3% this quarter, while its revenue growth is also shaping up strongly.” He also highlighted the consolidated revenue growth of 60% over the past two years, reaching $1.6 billion, thanks to the successful integration of Cigniti.

Singh pointed to a YoY surge of over 40% in the order book executable over the next twelve months, which stood at $1.4 billion at the end of Q3. He expressed confidence in achieving $2 billion in revenue in the medium term, owing to the growth in core and emerging verticals along with the increasing adoption of GenAI to optimise existing services.

3. Shoppers Stop:

This department stores company has declined by 5.6% over the past week after announcing its Q3FY25 results on January 15. During the quarter, its net profit rose 41.7% YoY to Rs 52.2 crore due to improved margins in private brands. Revenue was up 12.9% YoY at Rs 1,402 crore. The company’s revenue beat Forecaster estimates by 8.5%, while net profit beat estimates by 54.8%. It appears on screener for stocks where mutual funds have increased shareholding in the past month.

The company’s management noted mixed demand trends in Q3FY25, with strong like-for-like (LFL) growth in October due to the festive season, followed by a weaker November. They launched several brands, including Kiro, Stila, Prada Beauty, and INTUNE, with the fragrances and perfumes segment standing out, growing by 14%. CEO & MD, Kavindra Mishra, said, “We’ve increased our non-apparel share, particularly in the premium category, growing from 64% to 72%. In Beauty, we’ve opened high-end stores at QuestMall Kolkata, Bangalore T2 Airport, and three Armani stores.”

On future guidance Mr. Kavindra added, “We expect a solid Q4. At the start of my last call, we mentioned that in H2FY25, we would be aiming for around 5% like-for-like (LFL) sales growth, and we will maintain that forecast for the upcoming quarter. I anticipate six stores will open in Q4. For FY26, we expect to open between 12 and 15 new stores.”

The company's management has highlighted aggressive store expansion plans for its fast fashion brand, Intune aiming to open 90-100 stores in FY26, with a break-even expected by Q3-Q4FY26. However, HDFC Securities believes its performance has been below expectations. The brokerage notes that expansion has paused due to construction restrictions in Delhi NCR. The company closed 4 department stores and 8 beauty stores in Q4, in contrast with the guidance of opening 6 department stores and 26 Intune stores.

Motilal Oswal has maintained Shoppers Stop at a ‘Neutral’ rating and raised the target price to Rs 700. The brokerage notes that the company is focusing on the high-growth and margin-accretive Beauty segment. It sees a ~10% EBITDA CAGR for the company over FY25-27.

4. Pidilite Industries:

This specialty chemicals company rose over 5.4% on Thursday after announcing its Q3 results. Pidilite Industries’ revenue grew by 8.1% YoY to Rs 3,424.7 crore. The company's net profit increased to Rs 552.4 crore for Q3FY25, an 8.2% YoY rise. Revenue exceeded Trendlyne's forecaster estimates by 0.7%, though net profit fell short by 4.1%. Despite the profit miss, the stock gained momentum due to revenue growth and stable margins.

Growth in both the consumer & bazaar (C&B) and B2B segments drove performance. C&B, which accounts for nearly 82% of Pidilite's revenue, posted 6.9% YoY revenue growth to Rs 2,670 crore. The B2B segment delivered a 20.8% YoY surge in revenue, contributing Rs 760 crore. 

Bharat Puri, Managing Director, stated, “Looking ahead, we remain cautiously optimistic about better demand conditions due to the favorable monsoon and increased construction activities.” He added that despite subdued demand across urban and rural areas, Pidilite reported steady progress. Domestic subsidiaries, including Nina Percept, Fevicol Company, and CIPY Polyurethanes, delivered double-digit revenue growth driven by brands like Fevicol, Dr. Fixit, and M-Seal.

Noting the Q3 performance, Nuvama Wealth Management kept a 'Buy' rating on the stock with a target price of Rs 3,735, indicating an upside potential of over 28.6%. It is positive on the company's outlook, citing optimism for stronger demand. But Motilal Oswal holds a 'Neutral’ view on the stock. The brokerage highlights that the company’s domestic subsidiaries saw double-digit revenue growth and better EBITDA margins. However, due to global economic uncertainty, inflation, and political instability in some countries, its international subsidiaries saw slow sales growth.

5. KEI Industries:

Thiselectrical equipment maker has risen by 3.5% over the past week after announcing itsQ3FY25 results on January 22. During the quarter, net profit grew by 9.4% YoY to Rs 164.8 crore, but missed Trendlyne’sForecaster estimates by 6%. The company’s EBITDA margin contracted by 80 bps to 10.3% due to higher raw material costs, finance costs, and employee expense benefits. The volatility in copper and aluminum prices also impacted margins. 

Revenue for KEI Industries’ rose by 19.8% YoY to Rs 2,467 crore, beating estimates by 1.2%. During the quarter, the cables segment, which contributes a majority of the revenue, grew by 26% YoY. The company reported export sales of Rs 301 crore for the quarter, a 6% YoY increase. As of December 2024, KEI’s order bookstands at Rs 3,871 crore.

CEO & MD Amit Gupta highlights that over the last few months, orders for power cables have slowed due to capacity constraints. However, the company has completed a brownfield capacity expansion at Chinchpada, which aims to resolve these constraints and he expects revenue growth of 19-20% in FY26. Gupta added that the market outlook is favourable and will support the company’s growth expectations.

The company also plans to invest over Rs 800 crore in greenfield expansion for low tension (LTE) and high tension (HT) cables in Sanand, Gujarat. Guptasays, “We began construction in Sanand in March 2024 and will invest an additional Rs 700 crore in FY26 to complete the project.” He expects a volume CAGR of 19-20% post-completion of the project.

Post results, Edelweissmaintains its ‘Buy’ rating on KEI with a target price of Rs 5,250. This indicates a potential upside of 23.4%. The brokerage believes the cable and wire industry is in a structural upcycle, driven by strong demand across sectors like power, distribution, and solar. KEI's capex investments, strong margins, and healthy balance sheet are expected to boost performance.

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
24 Jan 2025
Market closes lower, Granules India's Q3 net profit falls 6.4% YoY to Rs 117.6 crore
By Trendlyne Analysis

Nifty 50 closed at 23,092.20 (-113.2, -0.5%), BSE Sensex closed at 76,190.46 (-329.9, -0.4%) while the broader Nifty 500 closed at 21,318.90 (-219.2, -1.0%). Market breadth is sharply down. Of the 2,395 stocks traded today, 438 showed gains, and 1,924 showed losses.

Nifty 50 closed lower after switching between gains and losses throughout the day. The Indian volatility index, Nifty VIX, rose 0.2% and closed at 16.7 points. Cyient plunged to its 52-week low of Rs 1,328.9 per share as its net profit declined 31.7% QoQ to Rs 122.3 crore in Q3FY25.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower, following the benchmark index. S&P BSE SME IPO and BSE SmallCap Select Index were among the top index losers today. According to Trendlyne’s sector dashboard, Telecommunications Equipment emerged as the worst-performing sector of the day, with a fall of 4.6%.

Asian indices closed mixed. European indices are trading mixed. US index futures are trading flat, indicating a cautious start to the trading session as investors are assessing Trump's comments in an interview, where he expressed hope for a potential trade deal with China. Brent crude oil futures are trading higher.

  • Cyient sees a short buildup in its January 30 futures series, with open interest increasing by 104.7% and a put-call ratio of 1.

  • Max Estates is rising as it acquires a 10.3-acre land parcel in Sector 105 on the Noida-Greater Noida Expressway for Rs 711 crore. The project offers a development potential of 2.6 million sq ft, comprising 40% residential (group housing) and 60% commercial space. It has a gross development value (GDV) potential over Rs 3,000 crore.

  • Granules India falls sharply as its net profit declines 6.4% YoY to Rs 117.6 crore in Q3FY25 due to higher employee benefits and depreciation & amortisation expenses. Revenue falls 1.1% YoY to Rs 1,143.4 crore, caused by a reduction in the active pharmaceutical ingredient (API) and pharmaceutical formulation intermediate (PFI) segments. It shows up in a screener of stocks with declining net cash flow.

  • Exicom Tele-Systems surges to its 5% upper circuit as it secures a Rs 1,412.5 crore advance purchase order from Rail Vikas Nigam (RVNL). The project includes supply of telecom equipment, power systems, and a 10-year maintenance contract for the BharatNet Phase III project in Uttar Pradesh.

  • Citi maintains a 'Buy' rating on UltraTech Cement with a target price of Rs 13,100. The brokerage estimates a 12% volume CAGR through FY25-27 and notes EBITDA/ton upside, primarily driven by cost improvements and continued profitability growth. It also highlights a 1.5% increase in cement prices in Central and West India.

  • Ujjivan Small Finance Bank is falling sharply as its net profit declines 63.8% YoY to Rs 108.6 crore in Q3FY25 due to higher interest, employee benefits expenses, and provisions. However, revenue grows 6.5% YoY to Rs 1,763.2 crore, helped by an improvement in the treasury, retail, and corporate banking segments. The bank's asset quality deteriorates as its gross and net NPAs grow by 50 bps YoY and 39 bps YoY, respectively.

  • Dr. Reddy's Laboratories falls sharply as its Q3FY25 net profit misses Forecaster estimates by 3.2% despite growing 2.5% YoY to Rs 1,413.3 crore. Revenue increases 15.9% YoY to Rs 8,358 crore, driven by improvement in the global generics segment. The company appears in a screener of stocks near their 52-week low.

  • NBCC (India) secures work orders worth Rs 229.8 crore. This includes a Rs 148.4 crore order from the Ministry of Health and Family Welfare for constructing residential units, lecture halls, hostels, and a rooftop solar system at AIIMS Bilaspur. Additionally, it receives an Rs 81.4 crore order from IIM Visakhapatnam for building a hostel, dining facility, and related infrastructure at its campus.

  • Axis Securities expects the Indian government to leverage India’s manufacturing strengths, leading to a PLI scheme for the chemical sector in the upcoming budget. The brokerage anticipates tax incentives for chemical hubs like Gujarat, benefiting Indian manufacturers. These efforts align with broader economic trends, including India’s demographic advantages, manufacturing quality, and the shift towards Euro+1 and China+1 strategies.

  • Zaggle Prepaid Ocean Services signs an agreement with Siemens to provide its Zaggle Propel reward platform, which includes channel rewards and recognition to Siemens' employees for three years.

  • Indus Towers is rising as its Q3FY25 net profit surges 159.9% YoY to Rs 4,003.2 crore, owing to a Rs 3,024.1 crore reversal of allowances for doubtful receivables. Revenue grows 4.6% YoY to Rs 7,631.2 crore, supported by new towers and colocations. It features in a screener of affordable stocks with good financials and durability.

  • One97 Communications (Paytm) falls sharply as reports reveal the company is among eight payment gateways under Enforcement Directorate (ED) investigation in a Rs 2,200 crore cryptocurrency scam. The scam involves HPZ token, allegedly operated by Chinese nationals.

  • Erez Israeli, CEO of Dr. Reddy's Laboratories, says while the company faces competition in some products, it plans to launch 15-20 new products annually. He expresses satisfaction with a 25% margin, though it may vary depending the the product mix. He also mentions plan to launch the GLP-1 drug in Canada, India, and Brazil in 2026 and is seeking funding from multiple sources.

  • MphasiS' Q3FY25 net profit grows 1.1% QoQ to Rs 427.8 crore, helped by lower employee benefits and finance costs. Revenue rises 0.8% QoQ to Rs 3,624.1 crore, led by an improvement in the baking & financial services, technology media & telecom, and insurance segments. It appears in a screener of stocks with increasing revenue for the past four quarters.

  • Ashish Kacholia cuts stake in E2E Networks to below 1% in Q3FY25. He held a 1.1% stake in the company in Q2FY25.

  • Kalpataru Projects International, along with its international subsidiaries, secures new orders worth Rs 2,038 crore. The orders include transmission and distribution (T&D) projects in India and international markets, and a building project in India.

  • The Appellate Tribunal for Electricity (APTEL) directs the Maharashtra State Electricity Distribution Company (MSEDCL) to pay NTPC Rs 2,477 crore for terminating agreement with its subsidiary, Ratnagiri Gas Power (RGPPL). The dispute dates back to 2014, when MSEDCL ended its agreement with RGPPL, which operates a 2 GW gas-fired plant in Maharashtra.

  • Bondada Engineering is rising as it signs a memorandum of understanding (MoU) worth Rs 450 crore with the Assam Government to set up a 100 MW hybrid power plant in Assam.

  • Kotak Mahindra Bank acquires a Rs 3,300 crore personal loan portfolio from Standard Chartered Bank.

  • Indian Energy Exchange is rising as its net profit beats Forecaster estimates by 5.2% as it grows 16.9% YoY to Rs 107.3 crore in Q3FY25, driven by lower finance cost and employee benefit expenses. Revenue increases 14.5% YoY to Rs 132.1 crore during the quarter. The company appears in a screener of stocks with zero promoter pledge.

  • India’s manufacturing PMI climbs to a six-month high of 58 in January 2025, up from 56.4 in December, driven by a recovery in new orders after a relatively weak Q3. In contrast, India’s Services PMI declines from 59.3 in December to 56.8 in January, reflecting slower growth in new domestic business within the services sector.

  • Mankind Pharma is falling as its net profit misses Forecaster estimates by 18.2% as it declines 16.2% YoY to Rs 380.2 crore in Q3FY25 due to higher cost of finance and employee benefit expenses. However, revenue rises 23.9% YoY to Rs 3,230 crore during the quarter. The company appears in a screener of stocks outperforming their industry in terms of share price change over the past quarter.

  • Sona BLW Precision Forgings' net profit grows 13.9% YoY to Rs 151.2 crore in Q3FY25. Revenue increases 11.8% YoY to Rs 868 crore, driven by 48% YoY growth in the battery electric vehicle (BEV) segment, contributing 39% of the overall revenue during Q3. The company appears in a screener of stocks with improving RoCE over the past two years.

  • Cyient plunges to its 52-week low of Rs 1,579.8 per share as its net profit declines 31.7% QoQ to Rs 122.3 crore in Q3FY25 due to higher employee benefits, raw materials, and depreciation & amortisation expenses. However, revenue grows 0.5% QoQ to Rs 1,909.8 crore, helped by an improvement in the digital, engineering & technology (DET) and design led manufacturing (DLM) segments. It shows up in a screener of stocks where promoters are decreasing their shareholding.

  • Hindustan Petroleum Corp rises sharply as its Q3FY25 net profit surges 3.6x YoY to Rs 2,543.7 crore, helped by lower inventory expenses. Revenue rises marginally by 0.4% YoY to Rs 1.2 lakh crore, driven by an improvement in the downstream petroleum segment. It appears in a screener of stocks with YoY growth in quarterly net profit and increasing profit margin.

  • Nifty 50 was trading at 23,273.25 (67.9, 0.3%) , BSE Sensex was trading at 76,455.35 (-65.0, -0.1%) while the broader Nifty 500 was trading at 21,604.10 (66.1, 0.3%)

  • Market breadth is overwhelmingly positive. Of the 1,881 stocks traded today, 1,334 were gainers and 488 were losers.

Riding High:

Largecap and midcap gainers today include Torrent Power Ltd. (1,469.70, 3.2%), MphasiS Ltd. (3,009.30, 3.1%) and Au Small Finance Bank Ltd. (594.65, 2.1%).

Downers:

Largecap and midcap losers today include Prestige Estates Projects Ltd. (1,255.65, -6.5%), Oil India Ltd. (424.50, -5.9%) and UNO Minda Ltd. (913.60, -5.6%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Capri Global Capital Ltd. (200.60, 10.4%), KFIN Technologies Ltd. (1,164.90, 5.5%) and Five-Star Business Finance Ltd. (703.95, 4.3%).

Top high volume losers on BSE were Cyient Ltd. (1,344.90, -23.4%), Techno Electric & Engineering Company Ltd. (1,110.05, -7.4%) and Syngene International Ltd. (796.10, -6.0%).

Aegis Logistics Ltd. (675.15, -4.5%) was trading at 12.1 times of weekly average. MphasiS Ltd. (3,009.30, 3.1%) and Atul Ltd. (6,547.10, -3.0%) were trading with volumes 11.0 and 9.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

27 stocks hit their 52 week lows.

Stocks making new 52 weeks lows included - Apollo Tyres Ltd. (423.40, -3.5%) and Axis Bank Ltd. (948.50, -0.3%).

15 stocks climbed above their 200 day SMA including ICICI Securities Ltd. (807, 1.0%) and Indus Towers Ltd. (367.95, 0.4%). 20 stocks slipped below their 200 SMA including Syngene International Ltd. (796.10, -6.0%) and Ramkrishna Forgings Ltd. (804.25, -5.9%).

 
logo
The Baseline
23 Jan 2025
Chart of the Week: Indian Rupee reaches record low against the US Dollar
By Aditi Priya

The Indian Rupee (INR) has been under pressure over the last year, facing both global and domestic economic challenges. The rupee has been hit by  the US Fed’s policy moves,  rising crude oil prices and domestic inflation, depreciating sharply.

A selloff in Indian assets has led this month to the rupee’s biggest drop in two years. It fell 0.6% to a record low of 86.6 against the US dollar on January 13. Domestically, inflation has also put pressure on the rupee by reducing purchasing power.

With the new RBI Governor at the helm, reduced intervention by the Reserve Bank of India (RBI) has added to the pressure. 

Reduced RBI intervention weakens INR

One of the primary reasons for the recent, sharp decline is the Reserve Bank of India’s (RBI) policy shift under its new governor. The RBI, under new governor Sanjay Malhotra, has opted to let the rupee move more freely, and has limited aggressive actions to stabilize the currency. This is a shift from the previous approach by ex–Governor Shaktikanta Das, who kept tight control over the rupee, only allowing gradual changes in its value.

Shaktikanta Das served as the RBI Governor from December 2018, managing crises like the pandemic, geopolitical tensions, and instability in the non-banking financial sector. The RBI, under his governance, worked to  mitigate rupee volatility. To defend the rupee, the RBI intervened aggressively, utilizing over $60 billion of its foreign exchange reserves in November. The RBI also used dollar-rupee swaps to manage rupee liquidity without affecting the exchange rate.

However, experts including former RBI Deputy Governor Viral Acharya, have emphasized the importance of allowing some currency volatility to encourage private hedging, as the central bank cannot absorb all risks. 

The IMF also highlighted that excessive interventions have limited rupee movement, and reclassified India’s exchange rate regime as a ‘stabilized arrangement’ from ‘floating.’ Exporters were also impacted by the central bank’s policy of not allowing the rupee to find its natural level versus the dollar.

Indian Rupee hits record lows, could fall further

The INR moved from being one of Asia’s best-performing currencies in 2023 and 2024,  to a significant underperformer in the past quarter. Throughout 2024, the rupee depreciated by 2.8%, starting the year at Rs 83.2 and weakening to Rs 85.6 by December. It is down over 1% so far this year.

Over the last three years, the INR has gradually weakened against the dollar. In January 2022, the exchange rate stood at approximately Rs 74.5 per USD. By January 2025, the INR had depreciated by nearly 16.2% over this period. Several factors contributed to this decline, including the USD’s strength driven by global economic changes, India’s slowing economic growth, and a widening trade deficit. As a major crude oil importer, fluctuations in global oil prices have also hit India’s import costs and the rupee’s value.

Rupee’s depreciation comes with significant consequences

When the rupee depreciates, the cost of importing goods rises, leading to higher prices for imported products and raw materials. This increase in import costs can contribute to overall inflation, affecting consumers and businesses alike. 

Rising inflation due to a weaker rupee can influence RBI’s monetary policy decisions. The RBI might raise interest rates to control inflation, which makes borrowing costlier and could slow down economic growth. On the other hand, if inflation seems under control, the RBI might decide not to change rates. With the rupee's recent drop in value, there’s speculation that planned interest rate cuts might be postponed.

A weaker rupee can make Indian exports more competitive by reducing their prices in international markets. This price advantage can boost demand for Indian goods abroad, potentially increasing export volumes. However, the benefits may be limited if key export sectors rely heavily on imported raw materials, as the cost of these imports would also rise with a depreciating rupee, offsetting the advantages gained from lower export prices.

 
Trendlyne Marketwatch
Trendlyne Marketwatch
23 Jan 2025
Market closes higher, Adani Energy's Q3 revenue grows 27.8% YoY to Rs 5,830.3 crore
By Trendlyne Analysis

Nifty 50 closed at 23,205.35 (50, 0.2%) , BSE Sensex closed at 76,512.96 (108.0, 0.1%) while the broader Nifty 500 closed at 21,538.05 (141.5, 0.7%). Market breadth is in the green. Of the 2,388 stocks traded today, 1,265 were on the uptrend, and 1084 went down.

Indian indices closed higher, with the benchmark Nifty 50 index closing at 23,205.4 points. The Indian volatility index, Nifty VIX, fell 0.4% and closed at around 16.7 points. Hindustan Unilever closed in the red as its Q3FY25 revenue missed Forecaster estimates by 1.8% despite growing 1.7% YoY to Rs 16,050 crore. Net profit rose 18.9% YoY to Rs 2,984 crore.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green. Nifty India Digital and Nifty Consumer Durables were among the best performing indices of the day. According to Trendlyne’s sector dashboard, Fertilizers emerged as the best-performing sector of the day, with a rise of 2.5%.

European indices are trading mixed. Major Asian indices closed mixed. US index futures are trading higher, indicating a positive start to the trading session. Intuitive Surgical, GE Aerospace, Texas Instruments, and Evelance Health are set to report their earnings later today.

  • Kalyan Jewellers India sees a short buildup in its January 30 futures series, with open interest increasing by 22.5% and a put-call ratio of 0.6.

  • Adani Energy Solutions rises as its net profit surges 72.9% YoY to Rs 561.8 crore in Q3FY25, helped by a deferred tax credit of Rs 88.5 crore. Revenue rises 27.8% YoY to Rs 5,830.3 crore, owing to improvements in the transmission and distribution segments. It appears in a screener of stocks with increasing revenue for the past four quarters.

  • Ultratech Cement rises sharply as its Q3FY25 net profit beats Forecaster estimates by 15.8% despite falling 17.3% YoY to Rs 1,469.5 crore due to higher raw materials, inventory, employee benefits, finance, depreciation & amortisation, and freight & forwarding expenses. It features in a screener of stocks near their 52-week highs with significant volumes.

  • Indian Renewable Energy Development Agency's board of directors approves raising funds worth up to Rs 5,000 crore through a qualified institutional placement (QIP) of equity shares.

  • Bharti Airtel and Jio align with the Telecom Regulatory Authority of India's (TRAI) directive. Airtel reduces its annual and quarterly voice plans by Rs 40-70, while Reliance Jio introduces new plans following an order for separate voice and SMS plans.

  • GAIL is rising as it signs a non-binding memorandum of understanding (MoU) with Argentina's YPF and two Indian firms to explore LNG exports, lithium, and hydrocarbon opportunities. The collaboration aims to strengthen ties in energy and mining sectors for global markets.

  • Zydus Lifesciences is rising as the US FDA grants Orphan Drug Designation (ODD) to Usnoflast, an oral inhibitor for treating amyotrophic lateral sclerosis (ALS), a fatal neurodegenerative disease.

  • Cigniti Technologies surges more than 10% as its Q3FY25 net profit grows 20.1% QoQ to Rs 63.6 crore, helped by lower employee benefits, finance, and depreciation & amortisation expenses. Revenue rises 1.7% QoQ to Rs 525.8 crore, driven by increased order intake from the Americas, Europe, Middle East, and Africa (EMEA). It appears in a screener of stocks where promoter holding increased more than 2% QoQ.

  • Inder Jaisinghani, Chief Managing Director of Polycab India, notes that Q3 volume growth was affected by delayed private capex and a slowdown in public spending but remains optimistic about Q4 growth. He sets a revenue target of Rs 40,000 crore and aims to reach Rs 50,000 crore by 2030. Jaisinghani also states the company has no inorganic growth plans at present.

  • Paras Defence and Space Technologies surges as it signs a memorandum of understanding (MoU) with the Maharashtra government to develop an Optics Park in Navi Mumbai. The project is expected to cost Rs 12,000 crore over 10 years and aims to advance optical technologies, generating 2,000 jobs.

  • Zensar Technologies surges to its all-time high of Rs 869.7 per share as its Q3FY25 net profit grows 2.6% QoQ to Rs 159.8 crore owing to lower purchase of traded goods, sub-contracting, finance, and depreciation & amortisation expenses. Revenue rises 0.5% QoQ to Rs 1,356.3 crore, attributed to improvements in the digital & application services and cloud infrastructure & security segments. It features in a screener of stocks with consistent highest returns over the past five years.

  • Laxmi Organic Industries' net profit grows 7.8% YoY to Rs 29.3 crore in Q3FY25 due to lower cost of materials and employee benefit expenses. Revenue increases 13.3% YoY to Rs 786.3 crore during the quarter. The company features in a screener of stocks with improving cash flow from operations over the past two years.

  • India’s Steel Ministry advocates for a Rs 15,000 crore policy push for green steel in the upcoming budget. Reports suggest that the fund will include a PLI-type scheme to incentivise low-carbon steelmaking and introduce a mandatory procurement provision for this higher-cost metal, along with other key focus areas.

  • Vijay Kedia sells a 0.6% stake in Tejas Networks in Q3FY25. He now holds a 1.3% stake in the company.

  • RARE Enterprises sells a 0.8% stake in Nazara Technologies in Q3FY25. He now holds a 7.2% stake in the company.

  • Coforge surges more than 10% as its Q3FY25 net profit grows 6.6% QoQ to Rs 215.5 crore. Revenue rises 8.3% QoQ to Rs 3,377.8 crore, owing to improved order intake. It features in a screener of stocks where FIIs are increasing their shareholding.

  • Reports indicate that Mazagon Dock Shipbuilders, in partnership with Germany's TKMS, progresses to the commercial negotiation stage for the Centre's Rs 70,000 crore P75(I) submarine project. The new submarines, equipped with air-independent propulsion systems, are expected to become operational within seven years of contract signing.

  • Stallion India Fluorochemicals' shares debut on the bourses at a 33.3% premium to the issue price of Rs 90. The Rs 199.4 crore IPO received bids for 188.4 times the total shares on offer.

  • Housing and Urban Development Corp signs a memorandum of understanding (MoU) with Vadhvan Port Project (VPPL), a joint venture (JV) between JNPA (Government of India) and Maharashtra Maritime Board (MMB). As per the MoU, the company will finance up to Rs 25,000 crore and explore the development of new ports.

  • Laurus Labs' wholly-owned foreign subsidiary, Laurus Generics, receives a Form 483 with one observation from the US FDA following a post-marketing adverse drug experience (PADE) inspection. The subsidiary is located in Berkeley Heights, New Jersey, USA.

  • Jefferies is positive on the Indian auto sector, expecting the two-wheeler and tractor segments to grow at a 13-15% CAGR over 2025-27. The brokerage names Mahindra & Mahindra (M&M), Eicher Motors, and TVS Motor as its top picks, assigning 'Buy' ratings with target prices of Rs 4,075, Rs 6,600, and Rs 3,050, respectively. It believes these companies' growth outlook and improving franchises will support their premium valuations.

  • Persistent Systems is surging as its net profit grows 14.8% QoQ to Rs 373 crore in Q3FY25. Revenue rises 5.5% QoQ to Rs 3,104.9 crore, led by improvements in the banking, financial services & insurance (BFSI), healthcare & life sciences, and software, hi-tech, & emerging industries segments. It features in a screener of stocks with increasing revenue for the past eight quarters.

  • Hindustan Unilever is falling sharply as its Q3FY25 revenue misses Forecaster estimates by 1.8% despite growing 1.7% YoY to Rs 16,050 crore, helped by improvements in the home care, beauty & wellbeing, and foods segments. Net profit rises 18.9% YoY to Rs 2,984 crore, driven by lower raw material costs. The company's board approves acquiring a 90.5% stake in Uprising Science for a cash consideration of Rs 2,670 crore.

  • Bharat Petroleum Corp is falling as its Q3FY25 net profit misses Forecaster estimates by 27.5% despite growing 19.6% YoY to Rs 3,805.9 crore due to lower cost of materials. However, revenue declines 2% YoY to Rs 1,13,165.9 crore during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Pidilite Industries is rising as its net profit grows 8.2% YoY to Rs 552.4 crore in Q3FY25. Revenue increases 7.6% YoY to Rs 3,368.9 crore, driven by higher sales from the consumer & bazaar, and business-to-business segments during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

  • Nifty 50 was trading at 23,103.70 (-51.7, -0.2%) , BSE Sensex was trading at 76,414.52 (9.5, 0.0%) while the broader Nifty 500 was trading at 21,361.55 (-35, -0.2%)

  • Market breadth is in the red. Of the 1,888 stocks traded today, 821 were in the positive territory and 1,011 were negative.

Riding High:

Largecap and midcap gainers today include Coforge Ltd. (9,196.45, 11.8%), Persistent Systems Ltd. (6,287.70, 10.6%) and UltraTech Cement Ltd. (11,420.90, 6.8%).

Downers:

Largecap and midcap losers today include Au Small Finance Bank Ltd. (582.40, -3.6%), Jio Financial Services Ltd. (255.85, -2.6%) and Bharat Petroleum Corporation Ltd. (271.25, -2.3%).

Volume Rockets

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

Top high volume gainers on BSE included Go Digit General Insurance Ltd. (327.35, 14.3%), Coforge Ltd. (9,196.45, 11.8%) and Zensar Technologies Ltd. (836.90, 11.6%).

Top high volume losers on BSE were Alembic Pharmaceuticals Ltd. (978.10, -4.0%), EIH Ltd. (385.20, -3.2%) and Housing and Urban Development Corporation Ltd. (221.48, -2.6%).

JK Lakshmi Cement Ltd. (821.45, 5.1%) was trading at 13.2 times of weekly average. Pidilite Industries Ltd. (2,909.65, 5.6%) and Honasa Consumer Ltd. (248, 0.2%) were trading with volumes 9.2 and 5.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

2 stocks made 52 week highs, while 15 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Wipro Ltd. (317.70, 2.8%) and Zensar Technologies Ltd. (836.90, 11.6%).

Stocks making new 52 weeks lows included - Axis Bank Ltd. (951.05, -0.9%) and Grindwell Norton Ltd. (1,826.95, 1.5%).

17 stocks climbed above their 200 day SMA including KEI Industries Ltd. (4,480.60, 8.6%) and UltraTech Cement Ltd. (11,420.90, 6.8%). 19 stocks slipped below their 200 SMA including Ramkrishna Forgings Ltd. (855.05, -4.6%) and Sammaan Capital Ltd. (157.19, -2.8%).