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Trendlyne Marketwatch
Trendlyne Marketwatch
05 Feb 2025
Market closes lower, Lupin secures US FDA approval to market generic HIV therapy drugs
By Trendlyne Analysis

Nifty 50 closed at 23,696.30 (-43.0, -0.2%), BSE Sensex closed at 78,271.28 (-312.5, -0.4%) while the broader Nifty 500 closed at 21,784.25 (56.8, 0.3%). Market breadth is overwhelmingly positive. Of the 2,411 stocks traded today, 1,636 were in the positive territory and 743 were negative.

Indian indices closed in the red, with the benchmark Nifty 50 index closing at 23,696.3 points. The Indian volatility index, Nifty VIX, rose 0.5% and closed at 14.1 points. Titan’s Q3FY25 net profit fell marginally by 0.6% YoY to Rs 1,047 crore due to higher tax expenses. However, revenue grew 25% YoY, led by improvements in the watches & wearables, jewellery, and eyecare segments.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green. Nifty Smallcap 50 and BSE Oil & Gas were among the top index gainers today. According to Trendlyne’s Sector dashboard, Healthcare Equipment & Supplies emerged as the best-performing sector of the day, with a rise of 2.5%.

Asian indices closed mixed, 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 red. Alphabet reported a rise in capital expenditures despite concerns over AI spending, while AMD revealed weak quarterly data center revenues. Regarding the US tariffs on China, ING analysts noted that while a US-China deal seems likely, markets are underestimating the risk of a prolonged trade dispute.

  • Relative strength index (RSI) indicates that stocks like UPL, SRF, Bajaj Finance, and Maruti Suzuki are in the overbought zone.

  • Lupin rises sharply as it secures tentative approval from the US FDA to market generic HIV therapy drugs, including Darunavir, Cobicistat, and others. The company is the first-to-file the drug and will manufacture it at its Nagpur facility.

  • Symphony is falling as it posts a net loss of Rs 10 crore in Q3FY25 due to an exceptional item loss of Rs 46 crore, compared to a net profit of Rs 41 crore in Q3FY24. Revenue declines 2% YoY to Rs 242 crore during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Abbott India rises sharply as its Q3FY25 net profit grows 16% YoY to Rs 360.8 crore, owing to lower employee benefits and finance costs. Revenue increases 12.9% YoY to Rs 1,686 crore during the quarter. It appears in a screener of stocks in an uptrend, most likely to cross above 200 SMA.

  • RV Gumaste, MD of Kirloskar Ferrous Industries, projects FY25 casting volumes of around 1.4 lakh tonnes and pig iron at 5 lakh tonnes. He highlights that the casting business witnessed sluggish demand from the tractor industry and anticipates improvements starting in Q4.

  • Zydus Lifesciences' net profit grows 29.6% YoY to Rs 1,023.5 crore in Q3FY25, helped by lower tax expenses. Revenue increases 17% YoY to Rs 5,269.1 crore, driven by improvements in the India & US formulations, and consumer wellness segments. It features in a screener of stocks with improving book value over the past two years.

  • Metropolis Healthcare is rising as its net profit grows 15.5% YoY to Rs 31.4 crore in Q3FY25 due to lower finance costs. Revenue increases 10.9% YoY to Rs 322.8 crore during the quarter. The company appears in a screener of stocks with book value per share improving over the last two years.

  • JK Tyre & Industries is falling as its Q3FY25 net profit plunges 76.7% YoY to Rs 51.5 crore due to higher raw materials, inventory, employee benefits, and finance costs. Revenue remains flat at Rs 3,694.3 crore due to a decline in the Mexican market. It shows up in a screener of stocks with growing costs YoY for long-term projects.

  • Pranjul Bhandari, Chief India Economist at HSBC, notes that India's services sector lost momentum in January, though the PMI stayed above the 50-mark. Both business activity and new business PMI indices dropped to their lowest since November 2022 and 2023. However, new export business provided support, in line with official data showing India's services exports growing in December and gaining a larger share of global trade.

  • JSW Energy is rising as it secures a contract from West Bengal State Electricity Distribution Company to develop and operate a 1,600 MW greenfield supercritical domestic coal-based thermal power plant. The project will use domestic linkage coal under the SHAKTI B policy.

  • Info Edge (India) is rising as its board of directors approves the stock split of one equity share with a face value of Rs 10, fully paid up, into five equity shares of Rs 2 each.

  • Happiest Minds Technologies falls as its revenue misses Forecaster estimates by 1.8% despite rising 1.8% QoQ to Rs 530.8 crore in Q3FY25 due to higher sales from the product & digital engineering services segment. Net profit increases 1.2% QoQ to Rs 50 crore during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Goldman Sachs upgrades Indian Oil and BPCL to a 'Neutral' and 'Buy' rating with target prices of Rs 110 and Rs 360, respectively. The brokerage attributes the upgrades to improving financials, reduced crude discounts, and recovery in the LPG sector. However, it also highlights that OMCs still face earnings risks. The brokerage expects free cash flow to recover next fiscal year, a factor historically linked to OMCs' stock performance.

  • Caplin Point Laboratories is rising as its subsidiary, Caplin Steriles, receives approval from the US FDA for its abbreviated new drug application (ANDA) for Procainamide Hydrochloride injection. The drug is a therapeutic equivalent to Apothecon's Pronestyl, used to treat certain arrhythmia (abnormal heart rhythm) by blocking abnormal electrical signals in the heart. It has an estimated market size of $20 million for the year ending December 2024, according to IQVIA.

  • Hero MotoCorp faces two central goods and services tax (CGST) demand orders from Alwar authorities, amounting to Rs 464.6 crore. The dispute concerns tax rates on parts and accessories supplied between July 2017 and March 2024.

  • Whirlpool of India is falling as its net profit misses Forecaster estimates by 24% despite increasing 57.1% YoY to Rs 44 crore in Q3FY25, driven by inventory destocking. Revenue rises 11% YoY to Rs 1,704.9 crore during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • ITC Hotels exits 22 BSE indices, including the Sensex, after it began trading today. The demerged entity, initially included for portfolio rebalancing, no longer meets the eligibility criteria for index inclusion.

  • Global Health is rising as its net profit grows 15.6% YoY to Rs 142.9 crore in Q3FY25, driven by lower finance costs and impairment of losses. Revenue increases 13.3% YoY to Rs 943.4 crore during the quarter. The company appears in a screener of stocks with improving ROE over the past two years.

  • Lemon Tree Hotels rises sharply as its net profit surges 76.5% YoY to Rs 62.5 crore in Q3FY25, helped by lower finance costs. Revenue grows 22.3% YoY to Rs 335.8 crore, led by improvements in occupancy, average room rate (ARR), and revenue per available room (revPAR). It appears in a screener of stocks with rising returns on equity (RoE), momentum, and earnings yield.

  • Rail Vikas Nigam is rising as it receives a letter of acceptance (LoA) worth Rs 404.4 crore from East Coast Railway. The order involves building 27 major bridges, including five road overbridges, along with earthwork and protection work between Tikiri and Bhalumaska stations as part of the Koraput-Singapur Road Doubling Project.

  • CLSA maintains an 'Outperform' rating on IGL with a target price of Rs 220. The brokerage notes that the company has not increased CNG prices in Delhi for more than three months despite a reduction in the allocation of affordable domestic gas. It believes that IGL will likely raise CNG prices by 4% after the Delhi elections to align with its EBITDA guidance of Rs 7-8/SCM. This adjustment would help maintain a healthy discount compared to diesel and petrol while supporting volume growth.

  • Titan is falling as its Q3FY25 net profit falls marginally by 0.6% YoY to Rs 1,047 crore due to higher tax expenses. However, revenue grows 25% YoY to Rs 17,868 crore, led by improvements in the watches & wearables, jewellery, and eyecare segments. It shows up in a screener of stocks with expensive valuations according to Trendlyne valuation score.

  • PC Jeweller rises sharply as it posts a net profit of Rs 148 crore in Q3FY25 compared to a net loss of Rs 198 crore in Q3FY24 owing to inventory destocking and lower finance costs. Revenue surges 15.7x YoY to Rs 683.4 crore during the quarter, driven by higher demand from the festive and wedding seasons. It features in a screener of stocks with increasing revenue over the past four quarters.

  • Torrent Power is rising as its net profit grows 32.2% YoY to Rs 475.7 crore in Q3FY25 due to lower fuel & material costs and inventory destocking. Revenue increases 2.1% YoY to Rs 6,499.4 crore, driven by higher sales from the generation and transmission & distribution segments during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

  • Tata Power is rising as its net profit grows 8.2% YoY to Rs 1,030.7 crore in Q3FY25 due to lower raw material costs and inventory destocking. Revenue increases 5.1% YoY to Rs 15,391.1 crore, driven by higher sales from the transmission and distribution segment during the quarter. The company appears in a screener of stocks outperforming their industry price change in the quarter.

  • Nifty 50 was trading at 23,773.70 (34.5, 0.2%) , BSE Sensex was trading at 78,578.93 (-4.9, 0.0%) while the broader Nifty 500 was trading at 21,789.45 (62, 0.3%)

  • Market breadth is overwhelmingly positive. Of the 1,922 stocks traded today, 1,425 were on the uptrend, and 446 went down.

Riding High:

Largecap and midcap gainers today include Hindustan Zinc Ltd. (467.45, 7.0%), Oil India Ltd. (431.60, 6.5%) and Abbott India Ltd. (27,802.10, 6.4%).

Downers:

Largecap and midcap losers today include Thermax Ltd. (3,345.05, -5.6%), Phoenix Mills Ltd. (1,700, -4.7%) and Godrej Properties Ltd. (2,301.35, -3.7%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Eris Lifesciences Ltd. (1,390.20, 12.9%), Global Health Ltd. (1,152.90, 10.7%) and Jubilant Pharmova Ltd. (1,055.20, 10.3%).

Top high volume losers on BSE were Sheela Foam Ltd. (836.30, -4.6%), Fine Organic Industries Ltd. (4,360, -4.5%) and J B Chemicals & Pharmaceuticals Ltd. (1,713.80, -1.6%).

Century Plyboards (India) Ltd. (868.20, 2.6%) was trading at 12.5 times of weekly average. Tata Teleservices (Maharashtra) Ltd. (74.74, 4.8%) and Motilal Oswal Financial Services Ltd. (701.65, 9.2%) were trading with volumes 9.2 and 8.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

6 stocks made 52 week highs, while 3 stocks hit their 52 week lows.

Stocks touching their year highs included - Bajaj Finance Ltd. (8,509.45, 0.4%), JK Cement Ltd. (4,934.85, 1.2%) and Muthoot Finance Ltd. (2,266.15, 1.2%).

Stocks making new 52 weeks lows included - Kajaria Ceramics Ltd. (977.40, 1.8%) and Tube Investments of India Ltd. (2,982.50, -3.6%).

28 stocks climbed above their 200 day SMA including Global Health Ltd. (1,152.90, 10.7%) and Kirloskar Brothers Ltd. (1,940.35, 5.5%). 5 stocks slipped below their 200 SMA including DCM Shriram Ltd. (1,051.65, -2.4%) and Bata India Ltd. (1,363.70, -0.3%).

 
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The Baseline
05 Feb 2025
Five stocks to buy from analysts this week - February 05, 2025
By Divyansh Pokharna

1. DLF:

Edelweiss maintains its ‘Buy’ rating on this Delhi-based realty company with a target price of Rs 1,040. This indicates an upside potential of 36.5%. In Q3FY25 its net profit grew 61.2% YoY to Rs 1,058.7 crore, helped by a deferred tax credit of Rs 820.3 crore and increase in revenue from its subsidiaries and joint ventures (JVs). Revenue increased by 5.7% YoY to Rs 1,737.5 crore, thanks to an improvement in new sales bookings. 

Analysts Amit Agarwal and Akhil Lalchandani highlight a 34% YoY increase in pre-sales to Rs 12,093 crore, driven by strong demand and festive season buying. The company plans four launches in Q4, covering 9 million square feet (msf) with a gross development value (GDV) of Rs 44,100 crore. It also aims to launch 28 msf (Rs 70,400 crore) after FY25, bringing total planned launches over the next four years to 37 msf (Rs 114,500 crore).

Agarwal and Lalchandani are optimistic about the company driven by strong sectoral tailwinds, an extensive launch pipeline, and expansion of its annuity portfolio. They expect a CAGR of 9.1% in revenue and 15.3% in net profit over FY25-27.

2. Sumitomo Chemical India:

Anand Rathi maintains a ‘Buy’ rating on this agrochemicals company with a target price of Rs 630, indicating an upside of 20.2%. The company’s revenue grew 18.4% YoY to Rs 642 crore in Q3FY25, largely driven by a 54% increase in exports. Analyst Himanshu Binani points out that stable raw material prices, liquidation of high-cost stocks from previous quarters and a better product mix led to a 240 bps YoY rise in gross margin.

Sumitomo Chemical’s management highlighted that the domestic rainfall patterns (with more rain and uneven distribution) and disrupted spraying activities impacted offtake in Q3. However, for the rabi season in Q4, better soil moisture and higher reservoir levels offer a positive outlook. The company is focusing on improving collections and maintaining receivable days at 93, similar to last year. Its payable days increased from 78 to 89 during Q3. Binani expects the company to achieve revenue and net profit CAGR of 18% and 21%, respectively, over FY25-27.

3. Ami Organics:

KR Choksey upgrades its rating to ‘Buy’ on this pharma company with a target price of Rs 2,613. The stock has limited upside left, with just 0.7% remaining, as it hit a 20% upper circuit on January 29 after announcing its Q3 results. It has surged 29.2% in the last six sessions following the management’s upward revision of its FY25 revenue growth forecast to 35% from 30%.

In Q3FY25, the company’s revenue grew 65.2% YoY to Rs 275 crore, driven by an 86% increase in the advanced intermediates segment. Gross margins improved by 333 bps to 46.2%, thanks to a shift to higher-value pharma intermediates and contract development and manufacturing organisation (CDMO) products.

Ami Organics’ capex for 9MFY25 stood at Rs 118 crore, mainly directed towards the Ankleshwar site, as well as solar and electrolyte additive projects. The company is ramping up utilisation at Ankleshwar. Analyst Dipak Saha highlights that the Ankleshwar facility has helped optimise costs through better production efficiency and savings from solar power, boosting margins. Additionally, the company plans to develop a 4,000 metric tonne capacity for electronic additives, which is expected to impact revenue and margins.

Saha expects revenue to grow at a 28.7% CAGR and net profit at a 54.2% CAGR over FY25-FY27.

4. Westlife Foodworld:

Axis Direct maintains its ‘Buy’ rating on this restaurants chain with a target price of Rs 870. The stock has met its target post-budget by rising 20%, driven by expectations of increased footfalls and dining out due to income tax relief and higher disposable income.

Westlife Foodworld added 15 new stores in Q3FY25, bringing its total to 421 restaurants across 67 cities by December 2024. The company is focusing on expanding its presence in south India, along with smaller towns, and enhancing drive-thru options. It aims to open 45-50 new stores annually.

Analysts Preeyam Tolia and Suhanee Shome said, “We believe that the strategic initiatives outlined in Vision 2027 to drive the company’s growth trajectory remain intact, such as expanding the fast-growing categories and targeting 580-630 store openings by CY27.”

During Q3FY25, Westlife’s revenue grew by around 9% YoY, with same-store sales growth (SSSG) increasing by 2.8% YoY, driven by higher footfalls and consistent spending per customer. Tolia and Shome are optimistic about the long-term prospects for the quick service restaurant (QSR) industry, supported by rising disposable income and a growing dining-out culture. They expect Westlife’s revenue to grow at a CAGR of 16% over FY25-27.

5. Aditya Birla Sun Life AMC:

Motilal Oswal maintains its ‘Buy’ rating on this asset management company with a target price of Rs 850, indicating an upside potential of 24.8%. The company reported a net profit growth of 7.2% YoY to Rs 224.5 crore in Q3FY25. Revenue rose 30.4% YoY to Rs 445.1 crore, driven by an increase in quarterly average assets under management (QAAUM).

Analysts Prayesh Jain, Nitin Aggarwal, Muskan Chopra and Kartikeya Mohata note that systematic investment plan (SIP) inflows climbed 38% YoY to Rs 1,380 crore, supported by a nearly threefold growth in new SIP registrations to 670,000. About 95% of SIPs have a tenure of over five years, and 89% exceed ten years. They mention that in the coming quarter, the company plans to aggressively promote its new Global Blue Chip fund through GIFT City. 

Jain, Aggarwal, Chopra, and Mohata say yields will improve slightly, mainly in the debt segment, due to higher expense ratios in some schemes. They believe the company's profitability will grow from its expanding alternate business, and a shift toward longer-duration debt funds. They expect a CAGR of 14.7% in average assets under management (AAUM) and 13.5% in net profit over FY25-27.

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

(You can find all analyst picks here)

 
Trendlyne Marketwatch
Trendlyne Marketwatch
04 Feb 2025
Market closes higher, Asian Paints Q3FY25 revenue falls 6% YoY to Rs 8,549 crore
By Trendlyne Analysis

Nifty 50 closed at 23,739.25 (378.2, 1.6%) , BSE Sensex closed at 78,583.81 (1397.1, 1.8%) while the broader Nifty 500 closed at 21,727.45 (324.9, 1.5%). Market breadth is overwhelmingly positive. Of the 2,403 stocks traded today, 1,595 were on the uptick, and 771 were down.

Nifty 50 closed higher after rising throughout the day. The Indian volatility index, Nifty VIX, fell 2.3% and closed at 14 points. Godrej Properties surged as its revenue grew 2.9X YoY to Rs 968.9 crore in Q3FY25, driven by improvements in the real estate and hospitality segments.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher, following the benchmark index. BSE Capital Goods and Nifty PSE Index were among the top index gainers today. According to Trendlyne’s sector dashboard, Healthcare Equipment & Supplies emerged as the top-performing sector of the day, with a rise of 4.2%.

Asian indices closed in the green, except for Thailand’s SET and Australia’s S&P/ASX 200, which closed in the red. European indices are trading mixed. US index futures are trading lower as investors assess the impact of escalating trade tensions after China imposed a retaliatory 15% tariff on US coal and liquefied natural gas imports, along with a 10% duty on crude oil, agricultural equipment, and automobiles. Brent crude oil futures are trading lower.

  • Money flow index (MFI) indicates that stocks like Navin Fluorine International, SRF, TVS Motor, and UPL are in the overbought zone.

  • General Insurance Corp of India is rising sharply as its Q3FY25 net profit grows 16.5% YoY to Rs 1,676.6 crore owing to lower employee benefits expenses and a Rs 71.8 crore return from provisions. Revenue increases 1.5% YoY to Rs 10,418.4 crore, driven by improvements in premiums from the fire, motor, engineering, workmen compensation, liability, personal accident, health, and agriculture insurance segments. It features in a screener of stocks with good Trendlyne valuation scores.

  • Asian Paints Q3FY25 revenue falls 6% YoY to Rs 8,549 crore, missing Forecaster estimates by 4.2%, amid muted demand conditions and a weak festive season. Net profit decreases 23.3% YoY to Rs 1,110.5 crore during the quarter. The company appears in a screener of stocks with declining profits every quarter for the past three quarters.

  • Bajaj Electricals is rising as its net profit beats Forecaster estimates by 24.6% despite decreasing 10.7% YoY to Rs 33.4 crore in Q3FY25. Revenue rises 5% YoY to Rs 1,289.7 crore, driven by higher sales from the consumer products segment during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Allied Blenders and Distillers acquires the Pumori gin and Woodburns whiskey brands from Fullarton Distilleries for nearly Rs 40 crore. This acquisition strengthens the company’s position in the premium spirits market, expanding its portfolio and reinforcing its focus on premiumisation.

  • Godrej Properties is rising as its revenue grows 2.9X YoY to Rs 968.9 crore in Q3FY25, helped by improvements in the real estate and hospitality segments. Net profit surges 2.6X YoY to Rs 162.6 crore during the quarter but misses Forecaster estimates by 34.8%. The company shows up in a screener of stocks with improving book value over the past two years.

  • Ujjivan Small Finance Bank (SFB) files an application with the Reserve Bank of India (RBI) for a Universal Banking License following approval from its Board.

  • Eris Lifesciences falls sharply as its net profit declines 18.6% YoY to Rs 83.6 crore in Q3FY25 due to higher raw materials, inventory, employee benefits, finance, and depreciation & amortisation expenses. However, revenue grows 49.2% YoY to Rs 731.7 crore, driven by an improvement in the domestic branded formulations segment. It appears in a screener of stocks with an increasing trend in non-core income.

  • The State Bank of India’s economic research department (ERD) projects that the second round of rate cuts could start in October 2025, following a pause in June 2025. The repo rate will likely decline to 5.8% from the current 6.5%. ERD suggests that the central bank may increasingly use the cash reserve ratio (CRR) as a regulatory intervention tool rather than just as a liquidity tool in the future.

  • Tata Chemicals falls sharply as its revenue declines 3.8% YoY to Rs 3,590 crore in Q3FY25, impacted by the basic chemistry and specialty products segments. The company posts a net loss of Rs 53 crore due to an exceptional items loss of Rs 70 crore, compared to a profit of Rs 158 crore in Q3FY24. It appears in a screener of stocks near their 52-week low.

  • NLC India surges almost 10% as its net profit surges 166.8% YoY to Rs 668.1 crore in Q3FY25. Revenue increases 50.7% YoY to Rs 4,897.9 crore, helped by improvements in the mining and power generation segments. It features in a screener of strong performing under radar stocks.

  • Welspun Enterprises is falling as its net profit misses Forecaster estimates by 21.2% after decreasing marginally YoY to Rs 71.5 crore in Q3FY25. Revenue increases 22.7% YoY to Rs 866.9 crore, driven by higher sales from the water and tunneling & rehabilitation segments during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

  • Pranav Amin, Managing Director of Alembic Pharmaceuticals, expects the India business to grow in line with the industry initially and later outperform it. He aims to achieve an 18% margin gradually. The management plans to invest in new facilities to boost growth in domestic formulations, while Amin also anticipates continued strong growth in the company’s US business.

  • Gland Pharma falls sharply as its Q3FY25 revenue declines 8.8% YoY to Rs 1,442.5 crore due to lower sales in the USA, Europe, and Indian markets. However, net profit grows 6.7% YoY to Rs 204.7 crore, driven by reduced raw materials, inventory, power & fuel, and depreciation & amortisation expenses. It shows up in a screener of stocks with declining return on capital employed (RoCE) in the past two years.

  • Aditya Birla Capital falls sharply, as its net profit declines 3.8% YoY to Rs 708 crore in Q3FY25 due to higher finance costs, employee benefits, and policyholders' life insurance expenses. However, revenue grows 9.3% YoY to Rs 9,381.4 crore, helped by improvements in the NBFC, life insurance, and health insurance segments. The company features in a screener of stocks underperforming their industry price change over the past quarter.

  • Garden Reach Shipbuilders & Engineers is falling as its net profit misses Forecaster estimates by 6.6% despite growing 11.3% YoY to Rs 98.2 crore in Q3FY25 due to lower sub-contracting expenses. Revenue increases 37.7% YoY to Rs 1,271 crore during the quarter. The company appears in a screener of stocks with improving ROE over the past two years.

  • Sumant Kathpalia, CEO of IndusInd Bank, states the bank will wait 1-2 more quarters before confirming the stabilization of its Microfinance Institution (MFI) business. He adds that the credit card book will take 2-3 quarters to stabilize, while forward flows in the microfinance book have already steadied. Kathpalia expects the vehicle finance segment to deliver its best performance in Q4FY25.

  • Dr. Agarwal's Health Care’s shares make a flat debut on the bourses at Rs 402. The Rs 3,027.3 crore IPO received bids for 1.6 times the total shares on offer.

  • Gateway Distriparks rises sharply as its Q3FY25 net profit surges 7.2x YoY to Rs 455.4 crore, owing to lower finance costs and a fair value gain of Rs 390.8 crore from the acquisition of Snowman Logistics. Revenue grows 3.1% YoY to Rs 407 crore, led by an improvement in the cold-chain logistics and distribution segment. It appears in a screener of newly affordable stocks with good financials and durability.

  • Larsen & Toubro is rising as its Minerals & Metals (M&M) business secures an order worth Rs 5,000-10,000 crore from a steel producer in the Middle East & North Africa (MENA) region. The order involves designing, supplying, and constructing a pellet plant and a direct reduction of iron (DRI) plant.

  • Morgan Stanley maintains an 'Overweight' rating on Maruti Suzuki India with a target price of Rs 14,942. The brokerage notes the company’s new 'Jimny' model bookings exceeded 50,000 within four days of its launch on January 30. Maruti's export volumes constitute 15% of total sales, compared to 18% in Q3FY25. It expects the 8th Pay Commission salary hike to boost first-time buyers in FY27.

  • Castrol India rises sharply as its Q3FY25 net profit grows 12.2% YoY to Rs 271.4 crore. Revenue increases 7.1% YoY to Rs 1,377.1 crore during the quarter. It features in a screener of stocks with dividend yields greater than their sector dividend yield.

  • Premier Energies rises sharply as its net profit surges 5.9x YoY to Rs 255.2 crore in Q3FY25. Revenue grows 2.5x YoY to Rs 1,749.4 crore, helped by new order bookings worth Rs 224 crore during the quarter. It features in a screener of stocks where FIIs have increased shareholding.

  • KEC International is falling as its net profit misses Forecaster estimates by 19.3% despite growing 33.8% YoY to Rs 129.6 crore in Q3FY25 due to lower finance costs and sub-contracting expenses. Revenue increases 6.8% YoY to Rs 5,349.4 crore during the quarter. The company appears in a screener of stocks outperforming their industry price change in the quarter.

  • Power Grid Corp of India is falling as its Q3FY25 net profit declines 4.1% YoY to Rs 3,861.6 crore due to higher tax expenses. Revenue decreases marginally by 0.6% YoY to Rs 11,743.1 crore, caused by a reduction in the transmission segment. It shows up in a screener of stocks with declining net cash flow.

  • The market opened on an upbeat note. Nifty 50 was trading at 23,502.70 (141.7, 0.6%), BSE Sensex was trading at 77,678.56 (491.8, 0.6%) while the broader Nifty 500 was trading at 21,587.25 (184.7, 0.9%).

  • Market breadth is highly positive. Of the 1,929 stocks traded today, 1,592 were on the uptrend, and 297 went down.

Riding High:

Largecap and midcap gainers today include ABB India Ltd. (5,629.55, 8.3%), Hindustan Aeronautics Ltd. (3,729.75, 5.7%) and Cummins India Ltd. (2,853.50, 5.7%).

Downers:

Largecap and midcap losers today include Trent Ltd. (5,750.30, -6.3%), ITC Hotels Ltd. (163.74, -4.5%) and Bajaj Holdings & Investment Ltd. (11,735.85, -3.8%).

Volume Shockers

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

Top high volume gainers on BSE included Aegis Logistics Ltd. (758.75, 12.0%), Techno Electric & Engineering Company Ltd. (1,107.45, 11.7%) and Nuvama Wealth Management Ltd. (5,695, 11.5%).

Top high volume losers on BSE were Triveni Turbine Ltd. (573.55, -9.5%), Zydus Wellness Ltd. (1,782.60, -4.1%) and Gland Pharma Ltd. (1,458.55, -3.7%).

NLC India Ltd. (227.74, 7.8%) was trading at 32.9 times of weekly average. Procter & Gamble Hygiene & Healthcare Ltd. (14,485.05, -0.9%) and Castrol India Ltd. (187.89, 6.5%) were trading with volumes 15.1 and 11.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

4 stocks overperformed with 52 week highs, while 5 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Bajaj Finance Ltd. (8,475.35, 0.6%), Mahindra & Mahindra Ltd. (3,189.05, 0.5%) and SRF Ltd. (2,970.25, 0.9%).

Stocks making new 52 weeks lows included - 3M India Ltd. (28,756.15, -2.4%) and Kajaria Ceramics Ltd. (959.85, -2.4%).

20 stocks climbed above their 200 day SMA including Aegis Logistics Ltd. (758.75, 12.0%) and Cholamandalam Investment & Finance Company Ltd. (1,394.90, 4.3%). 20 stocks slipped below their 200 SMA including Kirloskar Brothers Ltd. (1,839.35, -3.9%) and Bata India Ltd. (1,368.35, -3.3%).

 
Trendlyne Marketwatch
Trendlyne Marketwatch
03 Feb 2025
Market closes lower, KPR Mill's Q3 net profit misses Forecaster estimates by 4.4%
By Trendlyne Analysis

Nifty 50 closed at 23,361.05 (-121.1, -0.5%), BSE Sensex closed at 77,186.74 (-319.2, -0.4%) while the broader Nifty 500 closed at 21,402.55 (-179.2, -0.8%). Market breadth is highly negative. Of the 2,415 stocks traded today, 591 were in the positive territory and 1,792 were negative.

Indian indices closed in the red, with the benchmark Nifty 50 index closing at 23,361.1 points. The Indian volatility index, Nifty VIX, rose 1.8% and closed at 14.4 points. Divi's Laboratories closed more than 5% higher as its Q3FY25 net profit grew 64.5% YoY to Rs 589 crore owing to inventory destocking and a deferred tax refund of Rs 37 crore. 

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, tracking the benchmark index. S&P BSE Capital Goods and S&P BSE Industrials were among the worst index performers today. According to Trendlyne’s Sector dashboard, Forest Materials emerged as the best-performing sector of the day, with a rise of 3.4%.

Asian indices closed lower, except Sri Lanka’s CSE All-Share index, which closed 1.2% higher. Most European indices are trading in the red. US index futures are trading in the red, following President Donald Trump’s decision to impose trade tariffs on China, Canada, and Mexico. Brent crude oil futures are trading higher.

  • Relative strength index (RSI) indicates that stocks like Maruti Suzuki, Zensar Technologies, Bajaj Finance, and United Breweries are in the overbought zone.

  • Dhanuka Agritech's net profit rises 21.3% YoY to Rs 55 crore in Q3FY25 due to lower raw material costs and better operational efficiency. Revenue increases 10.4% YoY to Rs 445.3 crore during the quarter. The company appears in a screener of stocks outperforming their industry price change over the past quarter.

  • Nuvama Wealth Management's revenue grows 22.7% YoY to Rs 1,031.8 crore in Q3FY25, driven by improvements in the wealth & asset management and capital markets businesses. Net profit rises 43% YoY to Rs 252.1 crore during the quarter. It shows up in a screener of stocks with increasing return on capital employed (RoCE) over the last two years.

  • Emkay maintains a 'Buy' rating on Tata Motors with a target price of Rs 950. The brokerage notes that India's commercial vehicle (CV) outlook is improving, driven by positive trends in fleet utilization, freight rates, and financing. While global demand uncertainties remain, it believes JLR's focus on improving product mix and profitability will support continued broad-based improvement.

  • KPR Mill's net profit grows 8.1% YoY to Rs 202.3 crore in Q3FY25. Revenue increases 23.2% YoY to Rs 1,529.2 crore, driven by higher sales from the textile and sugar segments during the quarter. The company appears in a screener of stocks with declining ROE over the past two years.

  • Globus Spirits rises sharply as it announces a 4.4% price hike on regular and other brands in Rajasthan, effective April 1, 2025.

  • Divi's Laboratories rises sharply as its Q3FY25 net profit grows 64.5% YoY to Rs 589 crore owing to inventory destocking and a deferred tax refund of Rs 37 crore. Revenue increases 23.1% YoY to Rs 2,401 crore during the quarter. It features in a screener of stocks near their 52-week highs with significant volumes.

  • Morgan Stanley believes the Union Budget successfully boosted consumption through tax cuts, increased capex via state transfers, and maintained fiscal consolidation, which should support economic recovery and macro stability. However, the brokerage remains watchful about the 14.4% income tax collection growth target.

  • L&T Technology Services is rising as its smart world business partners with Arizona Technology Council to expand its presence in smart city and digital solutions. This partnership improves Arizona's tech ecosystem and promotes innovation.

  • IndusInd Bank's net profit plunges 39% YoY to Rs 1,401.3 crore in Q3FY25, caused by higher interest, provisions, and employee benefits expenses. However, revenue grows 8.5% YoY to Rs 15,151 crore, driven by an improvement in the treasury, retail, and corporate banking segments. The bank's asset quality worsens as its gross and net NPAs rise 33 bps YoY and 11 bps YoY, respectively.

  • Neogen Chemicals is rising as its net profit grows 8.5X YoY to Rs 10 crore in Q3FY25, driven by inventory destocking and lower employee benefit expenses. Revenue increases 22.5% YoY to Rs 201.4 crore during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

  • Jefferies initiates coverage on Adani Power with a 'Buy' rating and a price target of Rs 660. The brokerage expects the company’s merchant capacity to reach 12-13% by FY30, contributing 19-20% to EBITDA. It also anticipates power demand to rebound to 7%, similar to the levels seen during the capex upcycle from FY03 to FY09, following recent weakness.

  • Bandhan Bank is falling as its Q3FY25 net profit declines 41.8% YoY to Rs 426.5 crore due to higher provisions, employee benefits, and interest expenses. However, revenue grows 26.2% YoY to Rs 6,574.6 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 234 bps YoY and 93 bps YoY, respectively.

  • Oil & Natural Gas Corp falls sharply as its revenue decreases by 0.8% YoY to Rs 1.7 lakh crore in Q3FY25 due to decline in refining & marketing and petrochemicals segments. Net profit drops 16.7% YoY to Rs 8,239.9 crore, missing the Forecaster estimates by 15%. It features in a screener of stocks with increasing trend in non-core income.

  • Coal India falls sharply as its monthly coal production declines 0.8% YoY to 77.8 million metric tonnes in January. However, its total sales rises 2.2% YoY to 68.6 million tonnes.

  • Railway stocks like IRCTC, RVNL, and IRFC decline in trade as the FY26 Union Budget keep Indian Railways' capital expenditure unchanged at Rs 2.5 lakh crore. The ministry's internal and extra-budgetary resources (IEBR) for FY26 also remain flat at Rs 13,000 crore, a significant drop from Rs 52,783 crore in FY24.

  • Aster DM Healthcare is rising as its Q3FY25 revenue grows 12.3% YoY to Rs 1,082.8 crore during the quarter. However, net profit declines 69.2% YoY to Rs 64.4 crore, caused by higher inventory, professional fees, employee benefits, finance, and depreciation & amortisation expenses. It appears in a screener of undervalued growth stocks.

  • Mahindra & Mahindra is rising as its wholesales grow by 16% YoY to 85,432 units in January. Passenger vehicle sales increase 18% YoY, while exports nearly double.

  • HBL Engineering, in partnership with Shivakriti International, receives a letter of acceptance (LoA) for an order worth Rs 410.4 crore from the Ahmedabad Division of Western Railway. The order covers the supply and installation of the way-side Kavach system on the Ahmedabad-Palanpur and Ahmedabad-Samakhiyali sections, spanning a total of 402 kilometers.

  • State-owned OMCs such as BPCL and Indian Oil are declining, and analysts expect them to continue struggling in FY26 due to insufficient budget support. The LPG subsidy budget for FY26 stands at Rs 12,100 crore, below estimates. ICICI Securities notes that even with an LPG subsidy of Rs 14,700 crore for FY25, OMCs still face profitability issues, with an under-recovery of over Rs 30,000 crore for 9MFY25.

  • Vedanta's net profit grows 76.2% YoY to Rs 3,547 crore in Q3FY25 owing to lower power & fuel and depreciation & amortisation expenses. Revenue rises 9.5% YoY to Rs 39,795 crore, led by an improvement in the zinc, lead, & silver, aluminium, and copper segments. It appears in a screener of stocks with increasing debt.

  • Eicher Motors rises to a new all-time high of Rs 5,575.5 as its total sales grow by 20% YoY to 91,132 units in January. Domestic vehicle sales increase 21.2% YoY, while exports are up 26.8% YoY.

  • GR Infraprojects is falling sharply as its Q3FY25 revenue declines 16.7% YoY to Rs 1,797.4 crore due to a reduction in the engineering, procurement, & construction (EPC), and build, operate & transfer (BOT) segments. However, net profit grows 8.1% YoY to Rs 262.6 crore, helped by lower construction, inventory, employee benefits, and finance costs. It shows up in a screener of stocks with low Piotroski scores.

  • Hero MotoCorp's monthly wholesales rises 2.1% YoY to 4.4 lakh units in January due to higher scooter sales and domestic business. Exports surge 1.4X YoY to 30,495 units during the month.

  • Markets opened on a low note. Nifty 50 was trading at 23,263 (-219.2, -0.9%) , BSE Sensex was trading at 76,795.26 (-710.7, -0.9%) while the broader Nifty 500 was trading at 21,320.25 (-261.5, -1.2%)

  • Market breadth is highly negative. Of the 2,010 stocks traded today, 365 were on the uptrend, and 1,587 went down.

Riding High:

Largecap and midcap gainers today include Voltas Ltd. (1,401.30, 5.8%), Cholamandalam Investment & Finance Company Ltd. (1,337.65, 5.7%) and Bajaj Finance Ltd. (8,425.80, 5.3%).

Downers:

Largecap and midcap losers today include Siemens Ltd. (5,225.90, -9.1%), Samvardhana Motherson International Ltd. (130.61, -8.4%) and Thermax Ltd. (3,575.75, -7.8%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Hatsun Agro Products Ltd. (1,011.70, 6.2%), Westlife Foodworld Ltd. (825.85, 5.9%) and Maharashtra Scooters Ltd. (9,770, 5.2%).

Top high volume losers on BSE were Siemens Ltd. (5,225.90, -9.1%), Housing and Urban Development Corporation Ltd. (198.11, -8.9%) and Rites Ltd. (232.40, -8.7%).

Metro Brands Ltd. (1,295.05, 4.8%) was trading at 13.9 times of weekly average. Supreme Petrochem Ltd. (615.10, -1.0%) and Sapphire Foods India Ltd. (326.80, 3.5%) were trading with volumes 10.4 and 10.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

6 stocks hit their 52 week highs, while 13 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Bajaj Finance Ltd. (8,425.80, 5.3%), Eicher Motors Ltd. (5,485.25, 1.8%) and SRF Ltd. (2,942.70, 4.1%).

Stocks making new 52 weeks lows included - Bank of Baroda (207.99, -1.4%) and Bharat Petroleum Corporation Ltd. (249.55, -2.4%).

22 stocks climbed above their 200 day SMA including Ajanta Pharma Ltd. (2,982.75, 9.7%) and Westlife Foodworld Ltd. (825.85, 5.9%). 31 stocks slipped below their 200 SMA including Anant Raj Ltd. (590.20, -7.6%) and Rail Vikas Nigam Ltd. (407.15, -6.1%).

 
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The Baseline created a screener Stocks with Rising Momentum …
02 Feb 2025
 
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The Baseline
01 Feb 2025
Budget 2025: Huge income tax relief, custom duty cuts, rural economy boost
  • A pretty big announcement: Sitharaman says no tax on income up to 12 lakh rupees per annum. Woo!
  • Insurance has got a boost from Sitharaman's announcement of 100% foreign ownership for some firms.
  • Hardware tech players are the biggest sector gainers so far, thanks to custom duty cuts in key components.
  • A boost for India's electronic assembly plants that have been so much in the news the past year. Basic customs duty reduction across electronic products. Dixon Technologies, a key player here, is rising.
  • A much needed boost for trade: India’s model bilateral investment treaty will be updated and revamped, Sitharaman says. 
  • Twitter is talking about the Budget's Bihar focus. 

  • Indian cities are in crisis, with overwhelmed infrastructure, half-completed flyovers and traffic snarls. Sitharaman announces the 1 trillion rupee “Urban Challenge Fund” for municipalities who come up with projects and financing. They can get 25% federal support. But that is a very small fix in the ongoing problems for cities in governance and finance access.
  • The "Deepseek Effect": Centre of excellence in Artificial Intelligence will be set up for Rs 100 crore. However, qualified talent access across key areas like AI and aviation is a concern. 
  • Air travel in focus: Sitharaman announces that 120 new destinations will be connected for air travel. This is in the midst of a boom in flight travel in the last five years across India, as airport building has surged. New airports will connect 40 million additional passengers in the next 10 years.
  • Textile stocks are rising after Sitharaman announces five year mission for cotton farmers. 
  • An announcement for gig workers at Swiggy, Blinkit, etc: They will get health coverage from the government. 
  • Joke circulating on whatsapp groups yesterday. Income tax announcements are awaited.
  • It's Adani and Ambani who are regularly present in Indian business news, but Sitharaman announces a boost for medium and small businesses. There are over 1 crore MSMEs employing 7.5 crore people. She says, "For micro and small enterprises, credit cover will be increased from Rs 5 crore to Rs 10 crore. For startups, it will be increased to Rs 10 crore. For well-run exporter MSME, term loans of Rs 20 crore will be granted".
  • Amara Raja Energy was already seeing some momentum at market open. The stock is rising as Sitharaman announces focus on EV batteries and solar. 
  • Sitharaman announces loans for 500,000 female entrepreneurs from so-called backward classes. This is expected to drive momentum for self-help groups and smaller entrepreneurs,
  • Finance Minister Nirmala Sitharaman's Budget is focusing on farmers and the rural economy, suggesting that the government is focused on bringing down food inflation and addressing rural distress. Her announcements include: 
    • Nafed and NCCF to drive procurement of pulses over the next four years
    • PM Dhan Dhyan Krishi Yojan to benefit, Sitharaman says, over 1.7 crore farmers
    • Agriculture stocks are surging in response
 
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The Baseline
31 Jan 2025
Five Interesting Stocks Today - January 31, 2025
By Trendlyne Analysis

1. TVS Motor Company:

Thistwo-wheeler manufacturer has surged around 7% in the past week after announcing its Q3 results, driven by a 57% YoY rise in electric scooter sales. Cost control measures and stable raw materials prices helped the EBITDA margin improve by 70 bps YoY to a new high of 11.9%.

TVS reported an operating revenue growth of 10.3% YoY to Rs 9,097 crore in Q3, with net profit growth of 4.2% YoY to Rs 566 crore. While revenue was in line withForecaster estimates, net profit missed by 13%. Besides TVS Credit, rising losses from its subsidiaries, such as Norton Motorcycles and an e-bicycle company, contributed to the shortfall. A flat average selling price of around Rs 75,000, due to minimal price hikes during Q3, also impacted profitability.

TVSrecorded a 10.1% increase in overall sales on a YoY basis, reaching 12.1 lakh units in Q3, driven by a 22% rise in scooter sales. This surge was supported by the rising market share of scooters (both ICE & electric) in the two-wheeler category, which increased to 40% from 31% a year ago.

Regarding the demand outlook, CEO K N Radhakrishnansays, “This is the first year I have seen rural (demand) matching or slightly ahead of urban, which is very positive news.” He expects volumes of entry-level 125cc motorcycles and mopeds to improve, driven by a recovery in rural demand supported by high reservoir levels and expectations of a good monsoon this year.

Axis Securitiesmaintains a ‘Buy’ rating on TVS as sales volume outperformed that of the industry in Q3. The brokerage expects volumes to rise by 13% in FY25, driven by a rural demand recovery and an expanded international presence. It also anticipates the margin to improve as the company recognises PLI benefits from Q4.

2. Suzlon Energy:

This heavy electrical equipment hit its 5% upper circuit for three consecutive sessions following the announcement of its Q3FY25 results on January 29. The company’s revenue surged 90.7% YoY to Rs 2,969 crore, driven by higher sales from the WTG (wind turbine generators) and foundry & forging segments. EBITDA margin rose by 90 bps to 16.8% in Q3, while net profit grew 90% to Rs 387 crore. Both revenue and net profit surpassed Trendlyne Forecaster estimates.

As of January 2024, Suzlon’s order book stood at 5.5 GW. The WTG segment, which contributes the majority of revenue, saw its contribution margin rise by 330 bps YoY to 22.7% in 9MFY25. JP Chalasani, the Group CEO, said, “We’ve always maintained our contribution margin in the high teens. For FY25 and beyond, we expect a steady consolidated margin of slightly over 20%.”

The company has upgraded its Nacelle manufacturing facilities in Daman and Puducherry, increasing its annual production capacity by 45.2% to 4.5 GW. To expand operations further, it is adding two more production lines at its Ratlam and Jaisalmer facilities. Chalasani expects an annual capex of over Rs 350 crore in the next 2-3 years. 

Suzlon’s Vice-Chairman and Co-Founder, Girish Tanti, shared his expectations for Budget 2025, emphasising the need for “policy alignment” between wind and solar energy to support industry growth while keeping tariff costs low. He projects India’s wind energy capacity additions at 3.5-4 GW this year, with further growth expected at a CAGR of 42%, reaching 10 GW by FY28.

Post results, Nuvama upgraded its rating to ‘Buy’ as it expects the firm’s installed capacity to increase by 4.2% to 1.5 GW. It also highlighted the positive impact of Suzlon's acquisition of Renom Energy Services as a key factor driving the company's performance.

3. United Spirits:

This breweries & distilleries company has declined by 5.1% over the past week following its Q3FY25 results announcement. The company’s revenue grew 14.4% YoY to Rs 3,433 crore for the quarter but missed Trendlyne's Forecaster estimates by 1.2%. Net profit declined 4.3% YoY to Rs 335 crore due to higher excise duty, employee benefits and depreciation expenses, as well as a Rs 65 crore exceptional charge related to severance costs for a closed unit. EBITDA margins stood at 17.1% during the quarter.

During the quarter, revenue growth was led by robust consumer demand in the peak festive season and a rapid scale-up in Andhra Pradesh. The company resumed sales in Andhra Pradesh in Q3 after five years, as the state's new liquor policy permitted private retailers to sell spirits. Andhra Pradesh contributed 6.1% to overall revenue in Q3. Hina Nagarajan, the MD and CEO, said, “We anticipate stable demand going forward and remain cautiously optimistic on the demand environment in the short term.” 

Meanwhile, the Prestige & Above (P&A) segment (which constitutes 90% of the revenue mix) was up 16% YoY, while the Popular segment grew by 10% YoY. 

The management reiterated its guidance for double-digit revenue growth for its prestige products in FY25, driven by Andhra Pradesh's market recovery and ongoing innovation across the portfolio. United Spirits expanded its portfolio with the launch of X Series, under McDowell's brand, in five key markets, including Maharashtra, Goa, Uttar Pradesh, Rajasthan, and Madhya Pradesh. The X Series operates in the upper prestige price segment and consists of a premium range of Vodka, Rum, and Gin (priced above Rs 1,000/750 ml). 

Following the company’s results, Motilal Oswal maintains its ‘Neutral’ rating as it expects liquor policies in many states to become more favourable, driving consumer upgrades and increased consumption frequency. It believes United Spirits is well-positioned to capitalise on this large opportunity. Motilal Oswal expects the company’s EBITDA margins to sustain between 17-17.5%.

4. Laurus Labs:

This pharmaceutical company rose by 2% on January 24th after announcing its Q3FY25 results. During the quarter, its net profit rose 298.9% YoY to Rs 92.3 crore due to strong 89% YoY growth in Contract Development and Manufacturing Organization (CDMO) sales. Revenue was up 18.9% YoY at Rs 1,424.5 crore. The company’s revenue beat Forecaster estimates by 7.7%, while net profit beat estimates by 43.1%. It appears on screener for stocks with strong momentum.

The company witnessed strong growth in Q3 on the back of robust demand in its CDMO business. Satyanarayana Chava, Founder & CEO, added, “The CDMO division achieved its highest quarterly sales in the last 8 quarters, nearing Rs 400 crore. Over the first 9 months, the division saw a 33% growth, driven by a ramp up in new assets. The portfolio is shifting towards high-value complex small molecules, and we maintain a positive outlook for the small molecule CDMO industry. We remain committed to our 2025 growth targets, backed by scheduled project deliveries in Q4.”

On future guidance, Mr. Chava said, "We remain confident in our commitment from the last call to achieve an EBITDA close to 20% for FY25 from the current level of 16.6%, as the growth prospects for Active Pharmaceutical Ingredients (API) are expected to improve, driven by new products."

The company has entered into a definitive agreement to secure Rs 120 crore in equity investment from Eight Roads Ventures and F-Prime Capital. Additionally, it is investing Rs 40 crore in the joint venture, which is developing a 400KL fermentation facility in Vizag, set to be completed by the end of CY26.

Motilal Oswal maintains a 'Buy' rating on Laurus Labs as it expects the company’s CDMO business to grow at a 26% CAGR over FY25-27, reaching Rs 2,420 crore, and the non-Antiretroviral (ARV) segment sales to grow at a 29% CAGR over FY25-27, reaching Rs 2,260 crore. The brokerage notes that after six quarters of earnings decline, the company has shown strong financial improvement, estimating a robust 71% earnings CAGR over FY25-27.

5. Macrotech Developers:

Thisrealty company rose 11.3% over the past week following the announcement of its Q3results. Its net profit surged 87.6% YoY to Rs 944.4 crore, helped by a tax refund of Rs 228.3 crore, beating forecaster estimates by 47.1%. Revenue grew 40.1% YoY to Rs 4,146.6 crore, driven by an improvement in presales and collections. 

Macrotech Developers (Lodha)achieved quarterly pre-sales of Rs 4,510 crore, a 32% YoY growth, while collections jumped 66% YoY to Rs 4,290 crore. In Q3FY25, the companylaunched its fifth project in Bangalore with a Gross Development Value (GDV) of Rs 2,800 crore. It also introduced 2.7 million square feet (msf) of space in the Mumbai Metropolitan Region (MMR) and Pune. 

Abhishek Lodha, MD & CEO of Macrotech Developerssaid, “We have now achieved 90% of our full year target for business development, and in spite of heavy investments in land and business development, our debt has come down by over 15%. At the end of this fiscal year, we expect to meet the presales target of Rs 17,500 crore.” Lodhaaims to generate Rs 500 crore in annual rental income by FY26 and Rs 1,500 crore by FY31.

For the coming quarter, the companyplans to launch 4.3 msf with a GDV of Rs 7,520 crore across locations such as Alibaug, Vikhroli, Palava, Pune, Bangalore, along with new phases of existing projects in the eastern suburbs of MMR. They are expanding their portfolio beyond entry-level and mid-income housing to include luxury and premium residences. However, the focus will remain on mid-income housing that comprises 60% of their sales.

Motilal Oswalmaintains its ‘Buy’ rating on this stock with a target price of Rs 1,568. The brokerage expects pre-sales to grow at a 21% CAGR over FY25-26. They estimate revenue of Rs 4,270 crore, EBITDA of Rs 890 crore, and net profit of Rs 330 crore for Q4FY25, driven by upcoming launches and inventory with a ~Rs 7,520 crore GDV.

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
31 Jan 2025
Market closes higher, Marico's net profit grows 4.2% YoY to Rs 399 crore in Q3FY25
By Trendlyne Analysis

Nifty 50 closed at 23,508.40 (258.9, 1.1%) , BSE Sensex closed at 77,500.57 (740.8, 1.0%) while the broader Nifty 500 closed at 21,580.90 (283.4, 1.3%). Market breadth is ticking up strongly. Of the 2,406 stocks traded today, 1,728 were gainers and 641 were losers.

Indian indices closed in the green, with the benchmark Nifty 50 index closing at 23,508.4 points. The Indian volatility index, Nifty VIX, declined 6.6% and closed at 16.3 points. The 2025 Economic Survey forecasted India's FY26 GDP growth at 6.3-6.8%. As of December 2024, India's foreign exchange reserves totaled $640.3 billion (approximately Rs 47.6 lakh crore).

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, following the benchmark index. BSE Cap Goods and S&P BSE Industrials were among the top index gainers today. According to Trendlyne’s Sector dashboard, General Industrials emerged as the best-performing sector of the day, with a rise of 3.2%.

Asian indices closed mixed, while European indices are trading in the green. US index futures traded in the green, indicating a positive start to the trading session. Brent crude oil futures are trading in the red. Investors are awaiting US PCE inflation data for insights on interest rate direction. The dollar strengthened in anticipation, driven further by Trump’s 100% tariff threat on BRICS nations, including China, and his confirmation of 25% tariffs on Canada and Mexico from Saturday.

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

  • Marico's net profit grows 4.2% YoY to Rs 399 crore in Q3FY25, driven by inventory destocking and lower finance costs. Revenue rises 15.1% YoY to Rs 2,836 crore owing to improvements in the domestic and international markets. It appears in a screener of stocks near their 52-week highs with significant volumes.

  • Vodafone Idea receives a penalty order of Rs 363.3 crore under Section 74 of the Central Goods and Services Tax Act, 2017, issued by the Joint Commissioner, Central Tax, Pune-II Commissionerate.

  • Nestle India rises sharply as its net profit grows 5% YoY to Rs 688 crore in Q3FY25. Revenue rises 3.9% YoY to Rs 4,779.7 crore, owing to improvements in the e-commerce, organised trade, and out-of-home (OOH) segments. It shows up in a screener of stocks with increasing return on capital employed (RoCE) over the last two years.

  • The 2025 Economic Survey forecasts India's FY26 GDP growth at 6.3-6.8%. It highlights that the current account deficit was 1.2% of GDP in Q2FY25. As of December 2024, India's foreign exchange reserves totaled $640.3 billion (approximately Rs 47.6 lakh crore).

  • Jubilant Pharmova's net profit grows 51% YoY to Rs 100.9 crore in Q3FY25 owing to lower inventory, employee benefits, finance, and depreciation & amortisation expenses. Revenue increases 6.9% YoY to Rs 1,830.9 crore, driven by improvements in the radiopharma, allergy immunotherapy contract development & manufacturing organisation (CDMO), and contract research, development & manufacturing organisation (CRDMO) segments. It features in a screener of stocks with high momentum scores.

  • Punjab National Bank is rising as its net profit doubles YoY to Rs 4,508.2 crore in Q3FY25 due to higher income and lower provisions. Revenue increases 16% YoY to Rs 34,751.7 crore, driven by improvements in the treasury, wholesale, and retail banking segments. The bank's asset quality improves as its gross and net NPAs contract by 215 bps and 55 bps YoY, respectively, during the quarter.

  • Shree Cements' Q3FY25 net profit plunges 72.4% YoY to Rs 193.4 crore due to higher inventory, employee benefits, freight & forwarding, and depreciation & amortisation expenses. Revenue declines 12.3% YoY to Rs 4,683.5 crore during the quarter. It shows up in a screener of stocks with expensive valuations according to Trendyne valuation scores.

  • The Economic Survey, presented by Finance Minister Nirmala Sitharaman, highlights that supply chain issues and extreme weather caused food inflation, but efforts to stabilize prices are proving effective. The Reserve Bank of India and IMF project India will bring inflation closer to 4% by FY26, easing the burden on households and supporting economic stability.

  • HCL Technologies and Microsoft partner with Cricket Australia to improve fan experience using generative AI in the Cricket Australia Live app. The new AI Insights feature delivers real-time text updates, highlighting key events, player performances, and milestones beyond live scores and commentary.

  • Waaree Energies is surging as its Q3FY25 net profit jumps 4x YoY to Rs 492.7 crore. Revenue grows 114.6% YoY to Rs 3,545.3 crore, attributed to improvements in the solar photovoltaic modules and engineering, procurement & construction (EPC) contract segments. It appears in a screener of stocks with low debt.

  • Wockhardt surges to its 10% upper circuit as its flagship drug, Zaynich, achieves a 97% efficacy in a global phase-III trial for complicated urinary tract infections. The drug also showed effectiveness against meropenem-resistant infections, including ventilator-associated bacterial pneumonia.

  • Defence stocks like Hindustan Aeronautics, Bharat Electronics, and Bharat Dynamics are rising ahead of the 2025 Union Budget. Amey Belorkar, Fund Manager at IDBI Capital, expects the budget to boost India’s self-reliance in defence and aerospace. He notes that focusing on emerging fields like UAS (unmanned aerial systems), advanced materials, cyber defence, and space tech could attract significant private investment.

  • Tata Consumer Products rises sharply as its revenue grows 17.1% YoY to Rs 4,495.2 crore in Q3FY25, led by improvements in the domestic and international markets. However, net profit remains flat at Rs 278.9 crore as higher raw materials, inventory, employee benefits, finance, and depreciation & amortisation expenses offset the revenue growth. It features in a screener of stocks outperforming their industries over the past week.

  • Paradeep Phosphates is rising as it signs a memorandum of understanding (MoU) with the Government of Odisha to invest Rs 4,000 crore over five years. The investment aims to expand fertilizer production, integrate key raw materials, and improve sustainability in the sector.

  • PB Fintech rises as its revenue grows 48.3% YoY to Rs 1,291.6 crore in Q3FY25, driven by improvements in insurance brokerage services. Net profit surges 88% YoY to Rs 71.5 crore during the quarter. It appears in a screener of stocks outperforming their industry price change over the past quarter.

  • Ved Goel, CFO of Dr. Lal PathLabs, highlights that Q3 is generally a weaker quarter for the company due to seasonal factors. However, SwasthFit's strong growth and positive market response are helping drive the company forward. He notes that competition has stabilized over the past 3-4 quarters. Additionally, revenue per patient is rising while sample revenue remains steady. Goel affirms that the company has no plans for price hikes in the near future.

  • Container Corp of India falls to its 52-week low of Rs 704.6 per share as its Q3FY25 revenue remains flat at Rs 2,304 crore, missing Forecaster estimates by 2.7% due to a reduction in the export-import business. However, net profit rises 10.9% YoY to Rs 366.7 crore, driven by lower rail freight and depreciation & amortisation expenses. It shows up in a screener of stocks with declining net cash flow.

  • Ircon International is rising as its joint venture with AMRIL secures an order worth Rs 631.2 crore from the Public Works Department (PWD), Manipur. The contract includes road construction and drainage work in the Imphal East Division.

  • Larsen & Toubro is rising sharply as its Q3FY25 net profit grows 14% YoY to Rs 3,358.8 crore. Revenue increases 17.3% YoY to Rs 65,635.7 crore, driven by improvements in the infrastructure projects, energy projects, hi-tech manufacturing, IT & technology services, financial services, and development projects segments. It features in a screener of stocks with the highest FII holdings.

  • Vahan data shows that Ola Electric has regained its lead in India's electric two-wheeler market with a 25% share in January 2025, registering 22,656 units, up 65% MoM. This surge is driven by the strong S1 portfolio, expanded sales and service network, and the upcoming Gen 3 platform.

  • Jindal Steel & Power plunges as its net profit declines 50.7% YoY to Rs 950.5 crore in Q3FY25 due to higher inventory and depreciation & amortisation expenses. However, revenue grows marginally by 0.3% YoY to Rs 11,777.1 crore, helped by an improvement in steel producton. It appears in a screener of stocks with high promoter pledges.

  • Kalyan Jewellers India rises sharply as its net profit grows 21.2% YoY to Rs 218.8 crore in Q3FY25. Revenue increases 39.5% YoY to Rs 7,286.9 crore, driven by higher demand during the festive and wedding seasons. The company appears in a screener of stocks with improving return on equity (ROE) over the past two years.

  • Biocon's Q3FY25 net profit plunges 96.2% YoY to Rs 25.1 crore due to higher inventory, employee benefits, and depreciation & amortisation expenses. Revenue declines 14.7% YoY to Rs 3,856.2 crore, impacted by the generics and biosimilars segments. It shows up in a screener of stocks with growing costs YoY for long-term projects.

  • Bank of Baroda's net profit rises 8.9% YoY to Rs 4,837.3 crore in Q3FY25. Revenue increases 8.1% YoY to Rs 30,907.6 crore, driven by improvements in the treasury, corporate, and retail banking segments. The bank's asset quality improves as its gross and net NPAs contract by 65 bps and 11 bps YoY, respectively, during the quarter.

  • Nifty 50 was trading at 23,305.75 (56.3, 0.2%) , BSE Sensex was trading at 76,888.89 (129.1, 0.2%) while the broader Nifty 500 was trading at 21,343.65 (46.2, 0.2%)

  • Market breadth is in the green. Of the 1,919 stocks traded today, 1,204 were in the positive territory and 661 were negative.

Riding High:

Largecap and midcap gainers today include Rail Vikas Nigam Ltd. (476.30, 9.0%), NHPC Ltd. (80.55, 6.7%) and UPL Ltd. (603.75, 6.5%).

Downers:

Largecap and midcap losers today include Jindal Steel & Power Ltd. (791.55, -5.8%), Bank of Baroda (213.39, -4.1%) and Divi's Laboratories Ltd. (5,577.70, -2.8%).

Volume Shockers

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

Top high volume gainers on BSE included Kalyan Jewellers India Ltd. (503.10, 14.2%), Jupiter Wagons Ltd. (400.65, 12.6%) and Ircon International Ltd. (221.43, 9.2%).

Top high volume losers on BSE were Whirlpool of India Ltd. (1,139.80, -9.6%), Vedant Fashions Ltd. (933.80, -9.2%) and Jindal Steel & Power Ltd. (791.55, -5.8%).

Mahindra Holidays & Resorts India Ltd. (339.45, 5.2%) was trading at 15.4 times of weekly average. Navin Fluorine International Ltd. (4,148.70, 6.2%) and Container Corporation of India Ltd. (780.10, 3.2%) were trading with volumes 15.3 and 6.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

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

Stocks touching their year highs included - SRF Ltd. (2,809.85, -0.8%), UPL Ltd. (603.75, 6.5%) and Zensar Technologies Ltd. (870, 1.2%).

Stocks making new 52 weeks lows included - Bank of Baroda (213.39, -4.1%) and Can Fin Homes Ltd. (667.70, 2.1%).

29 stocks climbed above their 200 day SMA including Rail Vikas Nigam Ltd. (476.30, 9.0%) and Anant Raj Ltd. (598.30, 6.6%). 7 stocks slipped below their 200 SMA including JK Lakshmi Cement Ltd. (804.10, 0.4%) and Aavas Financiers Ltd. (1,712.80, 0.5%).

 
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%).

 
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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.