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The Baseline
11 Apr 2025
Five Interesting Stocks Today - April 11, 2025
By Trendlyne Analysis

1. InterGlobe Aviation (IndiGo):

Thisairline company surged 3% over the past week and is trading near its 52-week high after announcing apartnership with French hospitality firm Accor to enter the hospitality sector. Together, IndiGo and Accor will acquire a majority stake in India’s budget hotel chain, Treebo.

The airline adds one new aircraft to its fleet every week, a trend expected to continue until 2030. This expansion is fueled by growing demand, driven by rising middle-class income and the opening of new airports across India. With 65% of the world’s population located within 5-6 hours from India, IndiGo sees significant growth opportunities in international connectivity and is expanding aggressively.

Due to its rapid expansion,Forecaster expects IndiGo to report sales growth in FY25 but anticipates that margins will be negatively impacted on a YoY basis. However, they project that margin and net profit growth will return to a positive trajectory starting in FY26. IndiGo has launched “Strech,” a business class seating option, introduced a loyalty program, and expanded its cargo division to improve its margins. The airline currently offers business class services on three routes and aims to cover thirteen routes by the end of 2025.

InQ3, the airline’s net profit was lower YoY, primarily due to foreign exchange losses on lease liabilities denominated in US dollars. However, when excluding the impact of these forex losses, IndiGo reported a net profit growth of 26% YoY in Q3. To mitigate these losses, CFO Gaurav Negisaid, “We will further enhance our hedging positions, and as we add more international capacity, we expect the natural hedge to also improve.” He believes that expanding international capacity will serve as a “natural hedge” due to cash inflows in the form of US dollars.

According to Trendlyne’s Forecaster, 21 analysts have a consensus recommendation of “Buy”, with an average target price of 5,385.Analysts at Motilal Oswal expect IndiGo to benefit from India’s aviation sector's growth and expansion into international destinations.

2. Jubilant Foodworks:

This QSR player has gained over 59.5% from its 52-week low of Rs 429.6. On April 5, Jubilant Foodworks released its business update for Q4FY25, showing a 33.9% YoY increase in revenue at Rs 2,107 crore. The company features in a screener of stocks where mutual funds increased shareholding over the past quarter.

Jubilant Foodworks is the master franchise for brands like Domino’s Pizza, Popeyes and Dunkin’ Donuts in India. During the quarter, Domino’s Pizza reported like-for-like or LFL growth of 12.1% YoY. LFL growth stood at 12.5% in the December quarter, driven by improvements in home delivery orders. 

The company has risen 61.1% in the past two years, underperforming the broader hotels, restaurant & tourism sector by 41.1% points. Over the past 8–9 quarters, QSR (quick service restaurant) chains have faced pressures due to weak demand and tough market conditions. Delivery remained strong, but dine-in and takeaway slowed down. However, the management highlighted recovery in dine-in sales and expects growth in the coming quarters. 

Meanwhile, the company continued to expand its store network in Q4FY25 and opened 52 new Domino’s outlets, taking the total to 2,179 stores in India. Commenting on this, Sameer Khetarpal, the MD and CEO, said, “We plan to add 1,000 new Domino’s and around 150 Popeyes stores over the next three years as demand momentum remains upbeat.”

Analysts highlight that demand for fast-food chains is improving, driven by better affordability and a recovery in dine-in sales. This trend is likely to strengthen in FY26 as discretionary incomes rise following personal income tax cuts.

Motilal Oswal gives a ‘Hold’ rating on Jubilant Foodworks with a target price of Rs 715. The brokerage believes that improving the menu and promotional strategies for dine-in will be key in boosting footfall and orders moving forward.

3. Hindustan Unilever:

This personal products company rose by 5.4% in the past week. On April 8th the company’s demerged entity, Magnum Ice Cream Company, signed an MoU with the Maharashtra government to set up a Global Capability Center (GCC) for its ice cream business in Pune. Maharashtra CM, Devendra Fadnavis, said, “This Rs 900 crore investment will generate over 1,000 jobs and is Unilever’s largest Global Capability Centre (GCC) to date.”

To prepare for the Environment Ministry's April 1st mandate requiring recycled plastic use, the company acquired a 14.3% stake in Lucro Plastecycle Private, a plastic recycling firm, on March 20th. This strategic investment aims to ensure compliance and mitigate potential sales risks within the FMCG sector.

Trendlyne’s forecaster predicts the company's revenue and net profit will decline by 0.7% and 16.3% in Q4FY25. The negative estimates are due to inflationary material prices and flat growth in the previous quarter for the Beauty & Personal Care segment, which is the largest contributor at 36.6% of sales. However, the FMCG sector’s resilience and strong domestic demand have made it a preferred investment amid rising market volatility with Trump’s tariffs and recession fears. It appears on the screener for stocks in the ‘Buy’ zone.

Ritesh Tiwari, Executive Director & CFO of HUL, said, “If commodity prices remain where they are, we expect low single-digit price growth in the near term. With inflationary material prices, we expect to maintain EBITDA at the lower end of 23-24%. Along with our ice cream business demerger we've also entered an agreement to acquire a stake in premium beauty brand ‘Minimalist’, aligning with our strategy to pursue bolt-on acquisitions and strengthen our Beauty & Wellbeing portfolio.”

KR Choksey expects strategic acquisitions and premiumization efforts to support long term growth recovery for HUL. Subsequently, the brokerage has maintained its ‘Accumulate’ rating on the stock. The brokerage has lowered its FY26 & FY27 adjusted EPS estimates by 1.5% and 2% respectively, factoring in the Q3FY25 performance.

4. IRB Infrastructure Developers:

This roads & highways stock rose 5.9% on Tuesday as its toll collections increased 15.8% YoY to Rs 556.8 crore in March. Toll revenue for FY25 jumped 23% YoY to Rs 6,360 crore. The recent decline in Indian markets has helped the stock to feature in a screener of stocks with above-line growth and below-line valuations.

An improvement in the company’s monthly and yearly collections for the IRB MP Expressway, IRB Ahmedabad Vadodara Super Express Tollway, and CG Tollway helped its toll revenue improve in March and FY25. 

Speaking on its Q4FY25 update, the company’s Deputy Chief Executive Officer (CEO), Amitabh Murarka, said, “With a strong finish to FY25 and strong growth in toll revenue, we expect the trajectory to continue, driven by budget allocations aimed at boosting consumption and tourism, which will increase traffic on our assets in 12 states."

Trendlyne’s Forecaster expects the company’s net profit to grow by 10.5% YoY to Rs 208.7 crore in Q4FY25. However, revenue is expected to decline by 22.1% YoY to Rs 1,949.8 crore. 

In Q3FY25, the stock’s revenue grew by 2.9% YoY to Rs 2,025.4 crore. Meanwhile, its net profit surged by 32.2x to Rs 6,026.1 crore during the quarter, helped by lower road work and site expenses, and fair value gains of Rs 5,804.1 crore from investments made in joint ventures. 

Speaking on the order book, Anil Yadav, Director of Investor Relations of the company, stated, “Our total order book now stands at approximately Rs 31,500 crores, with an executable order book of Rs 6,000 crores in the next two years. We expect further growth in the order book, with the government’s push for public-private partnership (PPP) projects gaining momentum and bidding for BOT and TOT projects already underway.”

5 institutional analysts have a consensus recommendation of “Buy”, with an average target price of Rs 63.6 per share, indicating an upside of 39.5%.

5. Sobha:

This Bengaluru-based realty company rose 5.7% on April 8 after announcing its Q4FY25 business update. Sobha’s total sales increased by 22.1% YoY to Rs 1,836 crore, driven by higher volumes from new launches in Bengaluru, which contributed 76.6 % of total sales. 

During the quarter, the company sold 15.6 lakh sq ft of area, a 16.3% rise YoY. The average price was Rs 11,781 per sq ft, down 13.8% QoQ due to a higher share of mid-income projects, but it rose 4.5% YoY. Bengaluru alone accounted for Rs 1,406 crore in sales, supported by two project launches, Sobha Madison Heights and Sobha Hamptons. Other regions like Gurgaon, Hyderabad and Tamil Nadu also performed well during the quarter.

Despite a good recent quarter, Sobha’s total sales declined 5.5% YoY for FY25 to Rs 6,277 crore due to a weak H1 impacted by launch delays and slower sales in premium projects. Despite lower sales, the average price rose 22.8% YoY to Rs 13,412 per sq ft, aided by a higher share of own land projects and selective price hikes. 

The company missed its FY25 presales guidance of Rs 8,500 crore, to which Jagadish Nangineni, the company's Managing Director, pointed to “the regulatory delay in Sobha Townpark, and the slower pace of sales in some of our projects where the ticket size is large.”

Sobha plans to launch 210 lakh sq ft of residential and 11.9 lakh sq ft of commercial space across 10 cities in the next 4-6 quarters. Management expects to add Greater Noida, Hosur, and Mumbai to its operating locations in the next financial year, expanding its real estate presence to 15 cities.

Following the business update, HDFC Securities maintains its ‘Buy’ rating on the stock, citing its launch pipeline and an improving regulatory environment. They expect presales of Rs 9,000-10,000 crore in FY26, supported by geographical expansion and product diversification.

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
11 Apr 2025
Market closes higher, Aurobindo Pharma's US plant gets Form 483 with 11 FDA observations
By Trendlyne Analysis

Nifty 50 closed at 22,828.55 (429.4, 1.9%), BSE Sensex closed at 75,157.26 (1,310.1, 1.8%) while the broader Nifty 500 closed at 20,752.85 (396.1, 2.0%). Market breadth is highly positive. Of the 2,431 stocks traded today, 1,984 were gainers and 401 were losers.

Indian indices closed in the green, supported by Trump’s tariff pause, an RBI rate cut, and an improved inflation outlook. The Indian volatility index, Nifty VIX, declined 6.2% and closed at 20.1 points. TCS' Q4FY25 net profit fell marginally by 0.1% QoQ to Rs 12,224 crore. Revenue grew marginally by 0.8% QoQ, led by improvements in the banking, financial services & insurance (BFSI), manufacturing, and consumer business segments.

Nifty Midcap 100 and Nifty Smallcap 100 closed in the green, following the benchmark index. Nifty Metal & BSE Metal 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 5.1%.

Asian indices closed mixed, while European indices are trading lower except Russia’s MOEX & RTSI indices. US index futures traded in the green, indicating a positive start to the trading session. Investors are gearing up for the first-quarter earnings season kicking off today, starting with results from major banks including JPMorgan Chase, Wells Fargo and Morgan Stanley. Meanwhile, Accenture formed a 30:70 JV with Fincantieri (an Italian shipbuilding company) to drive digitalization across cruise, defense, and port infrastructure sectors.

  • PI Industries sees a long buildup in its April 24 futures series, with open interest increasing by 26.7% and a put-call ratio of 0.3.

  • Aurobindo Pharma receives Form 483 with 11 observations from the US FDA following an inspection at its Raleigh plant in the US.

  • ICICI Securities maintains its 'Buy' call on Tata Steel with a target price of Rs 180 per share. This indicates a potential upside of 35.7%. The brokerage believes the company's revenue will grow due to its focus on maximising production efficiencies, lowering fixed costs, optimising product mix, and improving margins. It expects the firm's revenue to grow at a CAGR of 6.3% over FY25-27.

  • Choice International is rising as its wholly-owned subsidiary, Choice Consultancy Services (CCSPL), secures an order from the Maharashtra State Electricity Distribution Company (MSEDCL) to develop a 45 MW (AC) solar plant.

  • HSBC maintains its 'Buy' and 'Hold' rating on Eternal (Zomato) and Swiggy with lower target prices of Rs 280 and Rs 385, respectively. The brokerage highlights intense competition in quick commerce, noting that gross order value (GOV) growth will be a key investor focus amid ongoing pricing and delivery pressures.

  • Reliance Industries is rising as its step-down subsidiary, Nauyaan Tradings, acquires an additional 10% stake in Nauyaan Shipyard from Welspun Corp for Rs 51.7 crore.

  • Rail Vikas Nigam is rising as it emerges as the preferred bidder for a Rs 143.4 crore order from Southern Railway to upgrade electric traction systems in the Salem division.

  • Hindustan Copper is rising as it resumes ore production at the Kolihan Copper Mine in the Khetri Copper Complex, Khetrinagar, Rajasthan, effective April 10.

  • According to data released by the Association of Mutual Funds in India (AMFI), mutual funds' net outflows stand at Rs 1,64,435 crore in March, compared to inflows of Rs 40,063 crore in February. Meanwhile, monthly equity inflows decline to Rs 25,082 crore in March compared to Rs 29,303 crore last month.

  • Greaves Cotton rises sharply as it enters a partnership with Chara Technologies to manufacture synchronous reluctance motors and controllers. The motors and controllers will be manufactured at Greaves' facility in Aurangabad, using Chara's technology and expertise.

  • Bank of India is rising as it reduces its repo-based lending rate (RBLR) by 25 basis points to 8.85% from 9.1%, effective April 9. This follows the Reserve Bank of India’s 25 bps cut in repo rate to 6%.

  • Sky Gold and Diamonds rises to its 5% upper limit as it secures a recurring export order from a leading jewellery brand to supply 200 kg of gold jewellery per month.

  • BofA Securities analysts expect Vodafone Idea’s net subscriber losses to ease to 3 million in Q4FY25, down from 5.1 million and 5.2 million in Q2 and Q3, respectively. The brokerage believes positive net additions remain distant and anticipates flat average revenue per user (ARPU), leading to a 2.1% sequential drop in revenue for Q4FY25.

  • Morepen Laboratories rises sharply as it plans to expand its workforce by adding 1000 medical representatives over the next three years to improve its formulations business. It expects to add 200 team members in FY26.

  • Motilal Oswal initiates coverage on Hindustan Aeronautics with a 'Buy' call and a target price of Rs 5,100 per share. This indicates a potential upside of 24%. The brokerage believes that the commencement of aircraft deliveries and order book inflows will help in revenue growth. It expects the firm's revenue to grow at a CAGR of 29% over FY25-27.

  • Ajmera Realty & Infra India rises sharply as its pre-sales increase 6.3% YoY to 1,080 crore in FY25. Collections surge 13% YoY to Rs 646 crore. The company has a total launch pipeline of approximately 26 lakh sq ft with a gross development value (GDV) of Rs 6,800 crore.

  • Morgan Stanley upgrades Godrej Consumer and Hindustan Unilever to 'Overweight' and 'Equalweight'. The brokerage highlights the resilience of select consumer staples amid global and domestic uncertainty, naming GCPL and Tata Consumer as its top picks due to their strong growth outlook and margin levers. It also notes that any sharp rise in commodity prices could negatively impact its earnings growth estimates.

  • NBCC (India) is rising as it sells 1,185 residential units in Aspire Dream Valley, Phase-III, Greater Noida, for Rs 1,504.7 crore through an e-auction.

  • Goodluck India rises sharply as its sales volume increases by 19% YoY in FY25, driven by higher sales of high-margin products and expansion in the international market. Its Q4FY25 volume grows by 12.8% QoQ.

  • Cipla rises sharply as it receives final approval from the US FDA for the abbreviated new drug application (ANDA) for Paclitaxel Protein-bound Particles for injectable suspension. The drug is a generic therapeutic equivalent to Bristol Myers Squibb’s Abraxane for injectable suspension and is used to treat breast cancer. The drug had a market value of $88 billion as of 2023 and is expected to grow to $139.7 billion in 2031.

  • RBI’s draft guidelines on gold-backed lending draw mixed responses from brokerages. CLSA highlights the rules aim to protect consumers and align practices across lenders, but it expects an impact on NBFCs like Muthoot and Manappuram due to their business models. Jefferies notes that restrictions on loans against primary gold or silver and the cap on bullet repayments may push NBFCs to diversify their portfolios.

  • GAIL is rising as it adds 3,119 km to its gas transmission network, commissioning over 96% of the Jagdishpur–Haldia pipeline. The project currently supplies 12.3 million standard cubic meters per day (MMSCMD) of natural gas to eastern and northeastern India.

  • SRF rises sharply as it sets up an agrochemical intermediate manufacturing facility in Gujarat, with a capex of Rs 190 crore.

  • Anand Rathi Wealth is rising as its net profit surges 29.8% YoY to Rs 73.5 crore in Q4FY25. Revenue increases 20.4% YoY to Rs 222 crore, driven by a 30% rise in assets under management during the quarter. The company appears in a screener of stocks outperforming their industry price change in the quarter.

  • Tata Consultancy Services' Q4FY25 net profit falls marginally by 0.1% QoQ to Rs 12,224 crore, due to higher employee benefits expenses. Revenue grows marginally by 0.8% QoQ to Rs 64,479 crore, led by improvements in the banking, financial services & insurance (BFSI), manufacturing, and consumer business segments. It shows up in a screener of stocks with expensive valuations according to Trendlyne valuation scores.

  • Markets opened high. Nifty 50 was trading at 22,777.80 (378.7, 1.7%), BSE Sensex was trading at 74,858.78 (1011.6, 1.4%) while the broader Nifty 500 was trading at 20,673.55 (316.8, 1.6%).

  • Market breadth is highly positive. Of the 2,000 stocks traded today, 1,852 were in the positive territory and 121 were negative.

Riding High:

Largecap and midcap gainers today include PI Industries Ltd. (3,607.45, 9.5%), Dixon Technologies (India) Ltd. (14,301.90, 7.7%) and SRF Ltd. (2,947.35, 7.4%).

Downers:

Largecap and midcap losers today include Muthoot Finance Ltd. (2,017, -5.8%), ICICI Lombard General Insurance Company Ltd. (1,718.55, -3.8%) and Max Healthcare Institute Ltd. (1,089.30, -3.0%).

Volume Rockets

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

Top high volume gainers on BSE included TVS Holdings Ltd. (8,950, 10.9%), Atul Ltd. (5,727.35, 10.2%) and PI Industries Ltd. (3,607.45, 9.5%).

Cello World Ltd. (523.75, 0.8%) was trading at 12.5 times of weekly average. Grindwell Norton Ltd. (1,600, 0.9%) and Supreme Petrochem Ltd. (617.70, 4.3%) were trading with volumes 10.0 and 5.4 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,

Stocks touching their year highs included - Chambal Fertilisers & Chemicals Ltd. (645.25, 1.1%) and Coromandel International Ltd. (2,060, 2.8%).

27 stocks climbed above their 200 day SMA including Suven Pharmaceuticals Ltd. (1,149.60, 8.6%) and Piramal Pharma Ltd. (219.83, 5.5%). 6 stocks slipped below their 200 SMA including Muthoot Finance Ltd. (2,017, -5.8%) and Dalmia Bharat Ltd. (1,811.35, -0.8%).

 
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The Baseline
10 Apr 2025
Five stocks to buy from analysts this week - April 10, 2025
By Divyansh Pokharna

The Indian stock market saw declines since April 7, with the Nifty 50 down 2.2%. This came after US President Trump announced a 26% reciprocal tariff on Indian imports on April 2. The fall was part of a broader global sell-off as investors moved to safer assets like US Treasury bonds and gold. On Wednesday, with the US stock and bond market falling, Trump announced a 90 day pause on higher tariffs for most countries while the US negotiates deals.

Despite the volatility, some analysts still see value in a few stocks. Here are five stocks with a ‘Buy’ rating from analysts. Two of them, Hindalco Industries and Prestige Estates, hit new 52-week lows in the week. The other three are down over 20% from their year highs.

1. PTC Industries:

ICICI Securities maintains its ‘Buy’ rating on this industrial products manufacturer with a target price of Rs 20,070. This indicates an upside of 52.4%. Aeroalloy Technologies (ATL), a unit of PTC Industries, received a long-term order on March 28 from Safran Aircraft Engines to supply seven cast parts for LEAP-1A (Airbus A320neo engines) and LEAP-1B (Boeing 737 Max engines). This order comes as PTC is expanding capacity at its Uttar Pradesh Defence Industrial Corridor.

Analysts Amit Dixit, Mohit Lohia and Pritish Urumka believe this deal could boost PTC’s earnings in the near term. They highlight that ATL is emerging as a key local supplier for Safran to support LEAP engine production, which powers many domestic airline fleets.

Dixit, Lohia, and Urumka expect PTC to add major capacities in 2025. This includes starting a new metal melting unit by April and expanding its casting and forging facilities by the end of the year. They project the company’s revenue to grow at a 104% CAGR over FY25-27.

2. Power Grid Corporation of India:

Sharekhan maintains a ‘Buy’ rating on this electric utility company with a target price of Rs 350, indicating an upside potential of 19.2%. In Q3FY25, Power Grid secured 11 transmission projects under the tariff-based competitive bidding (TBCB) framework. The company spent Rs 17,651 crore on capex during 9MFY25. As of December 2024, its order book stood at Rs 1.4 lakh crore.

Analysts believe that the government’s plan to increase renewable energy capacity to 500 GW by 2030, along with the national electricity plan (NEP) investment of Rs 9.2 lakh crore for transmission lines, provides Power Grid with an opportunity to secure inter-state transmission system (ISTS) projects worth Rs 1.9 lakh crore by FY32.

The management is targeting a capitalization of Rs 25,000 crore, with capex guidance of over Rs 28,000 crore by FY26. Analysts expect Power Grid to invest approximately Rs 3.3 lakh crore until FY32, driven by renewable energy capacity additions. They project a 6% CAGR in net profit over FY25- 27.

3. Prestige Estates Projects:

Motilal Oswal reiterates its ‘Buy’ rating on this Bangalore-based realty firm with a target price of Rs 1,725, indicating a potential upside of 59.8%. Prestige Estates Projects (PEPL) has a diverse portfolio covering residential, office, retail, and hospitality segments. The company added 15 million square feet (msf) of new projects in 9MFY25. Analysts Abhishek Lodhiya and Yohan Batliwala highlight that with a launch pipeline of Rs 80,000 crore, PEPL’s presales are expected to grow at a 14% CAGR, reaching Rs 31,500 crore by FY27.

The company is expanding its commercial and hospitality segments, adding 43 msf of commercial space. It expects rental income from this segment to grow at a 53% CAGR and reach Rs 1,950 crore by FY27. In the hospitality segment, analysts expect revenue to rise annually by 20%, based on estimates for about 3,000 hotel rooms, out of a total pipeline of 4,760 rooms planned in the near term.

Lodhiya and Batliwala note that the company’s upcoming launches and strong pipeline are not fully reflected in the current stock price. They estimate PEPL's net asset value (NAV) at Rs 56,900 crore and expect its net profit to grow at a 10.6% CAGR over FY25-27.

4. Hindalco Industries:

Anand Rathi retains its ‘Buy’ rating on this aluminium company with a target price of Rs 800, indicating an upside potential of 41.8%. Analysts Parthiv Jhonsa and Prakhar Khajanchi believe the company’s recent announcements strengthen its long-term growth visibility.

At the 2025 Investor Day, Hindalco announced a $10 billion capex plan covering both Novelis (its subsidiary), and its India operations. Novelis aims to raise its recycled content from 63% to 75%, cut emissions, and improve return on capital. The company reiterated its long-term EBITDA/tonne guidance of over $600, supported by scale, better pricing, and a stronger product mix. Its 6 lakh tonne Bay Minette facility in the US is on track for completion in H2CY26 and is expected to deliver $1,000/tonne EBITDA at peak utilization.

In India, Hindalco plans to increase its aluminium smelting capacity to 15 lakh tonnes from the current 13.5 lakh tonnes and downstream capacity from 4.3 lakh tonnes to 6 lakh tonnes by FY28. It has earmarked Rs 5,200 crore to expand alumina, copper, and specialty alumina capacities. 

5. J K Paper:

Geojit BNP Paribas initiates a ‘Buy’ rating on this paper manufacturer with a target price of Rs 392. This indicates a potential upside of 25.6%. The company’s Q3FY35 sales volume, however, fell by 6% YoY, and net sales dropped 4.4% YoY to Rs 1,632 crore due to weak domestic demand and increased paper imports.

Analyst Sheen notes that in Q3FY25, JK Paper’s EBITDA margin declined by 1,155 bps to 10.3% due to rising raw material costs and high wood prices. The analyst expects the company’s margins to improve from FY26 onwards, supported by easing raw material costs, increased demand for packaging boards, and a diversified product mix.

Over the past three years, JK Paper has expanded into the packaging business through acquisitions in the corrugated (cardboard containers) packaging segment. The analyst is optimistic that government initiatives, such as import tariffs, agroforestry support, and eco-friendly incentives, will help the company tackle competition, stabilize costs, and improve profitability.

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

(You can find all analyst picks here)




 
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The Baseline
09 Apr 2025
Tariffs are the only story right now | Screener: Companies with large revenues from the US

The modern American, however worldly-wise, has not really experienced tariffs. 

For that, you need to ask an Indian. Let's take televisions, for instance. Most American households had a television in their living rooms by the late 1950s. Americans were watching TV dramas like Mary Kay and Johnny in the 1950s, The Dick Van Dyke Show in the 1960s, The Brady Bunch in the 1970s. 

But TVs reached most Indian homes only by the 1980s (a national telecast began in 1982), decades after the US. A big reason for this was Indian tariffs which kept foreign products and new technology out of Indian hands. If you wanted to time travel, you could visit India in the 1980s, a nation stuck in the past - people were driving Premier Padminis (a 1960s car), using Indian made refrigerators, and eating Mars bars and Toblerones only when someone visited from "foreign". Coca Cola aired the iconic "I'd like to buy the world a Coke" ad in 1971, but it got kicked out of India in 1977 and returned only in 1993 (to be fair, the domestic substitute Campa Cola was pretty decent). 

So color me surprised that the United States now wants to block itself from the world with the highest tariff rates in a century. US President Trump, after implementing tariffs ranging from 104% on China to 10% on Australia, has promised Americans that they are somehow going to get a lot richer with tariffs.

Not many people are buying the "good for America" claim: 

"A huge policy mistake and a tax on American consumers" - Ken Griffin, billionaire investor and Republican megadonor

"Unambiguously stupid" - Jay Hatfield, CEO, Infrastructure Capital Advisors

"You can’t go to the bathroom because who knows what’s going to happen” - Peter Tchir, Strategy Head, Academy Securities

Meanwhile, Apple stores across the US are packed with customers buying the phones before prices go up (estimates put the iPhone price in the US doubling with tariffs). Among the biggest hit stocks are the Magnificent-7 (Meta, Amazon, Apple, Alphabet, Nvidia, Microsoft and Tesla), which have lost $1.5 trillion in market value over the past few days. 

 The tariffs seem perfectly designed to crash American growth, as well as cause a recession in many parts of the global economy. But even in a bad scene, there are relative winners and losers.

In this week's Analyticks:

Tariff chaos: What does the impact on India look like?

Screener: Indian companies with high revenue exposure to the US market

Some countries are better off than others

In human history, trade has been a consistent winner. Global trade has averaged 4% in annual growth since the Mongol invasion in the 12th century. Trump is unlikely to be the one to break this pattern. Still, the damage to global supply chains, even if temporary, is significant. 

India's stock market has see-sawed with the tariff announcements, but the trade data points to limited direct exposure. India's US exports account for 2.2% of its GDP. "India has relatively low dependence on the US for exports," Crisil analysts note. Vietnam in comparison, has 23% of its GDP coming from exports to the US, and 9% for Thailand.

A few Indian sectors take the lion's share in our US exports. Capital goods, textiles and pharmaceuticals have substantial shares. 

Some sub-industries however, have a disproportionate share of export revenue coming from the US. 38% of India's dairy exports by value go the US, as do 28% of iron and steel products and 22% of agrochemical exports.

It's now a game of relative advantage

One advantage India may have in the new US tariff regime is in the difference in tariff rates. India's level of 26% is lower than what the US has imposed on big exporters like China, Vietnam and Bangladesh. This may drive players to shift operations - from Vietnam to India for Samsung and Nike, and from China to India for Apple. 

Supply chains however, take a lot of time to move between countries. Apple still makes around 85% of its iPhones in China, even though it has been expanding production in India since 2017. Much of the equipment and machinery in Apple's Indian factories are still made in China.

But even as we assess tradeoffs and relative advantages, the fact remains that Trump, the Mad King with his chart of death, can change these numbers around on a whim and upend global markets week to week (he's already gleefully promising more pharma tariffs).

A trade deal here and there could bring tariffs down for some countries. But while markets hate uncertainty, Trump, a veteran of six bankruptcies, looks like someone who is unbothered by chaos.   

Screener: Indian companies with high revenue exposure to the US market

IT stocks decline after Trump imposes tariffs on Indian imports

As FY26 kicks off, the Indian equity market is under pressure, witnessing a sharp sell-off. Amid escalating global trade tensions sparked by US tariffs, foreign investors have offloaded Rs 22,770 crore worth of Indian equities, leading to a 4.6% decline in the Nifty 50 index from April 1st. The screener highlights stocks that generate the most revenue from the US market.

The screener primarily consists of stocks from the IT consulting & software, construction & engineering, pharmaceuticals, and auto parts & equipment sectors. Notable stocks featured includeBharat Forge, Birlasoft, Mphasis, Persistent Systems, Hexaware Technologies, LTIMindtree, Bharat Forge, Zensar Technologies, and Welspun Living.

Bharat Forge features in the screener after falling 17.7% over the past week, touching a new 52-week low of Rs 919. The sharp decline comes as the US imposes a 25% tariff on automobiles and auto parts.

In Q3FY25, this industrial products manufacturer derived 74% of its revenue from the US market by supplying parts for Class 8 trucks and OEM parts to automotive companies. The 25% tariff on auto parts increases export costs, reduces demand, impacts revenue, and makes the company less competitive in the US.

In Q3FY25, revenue fell by 10%, and it reported a loss of Rs 19.5 crore due to lower sales of defense products on both a QoQ and YoY basis. On February 19, the company received a letter of intent (LOI) from AM General, USA, to supply advanced artillery cannons to the United States.

Birlasoft also features in the screener after falling 10.6% over the past week. This IT Consulting company derived 86% of its revenue from the US market in Q3FY25. The manufacturing sector and banking and financial services account for 64% of its revenue.

Trump has not imposed tariffs on the Indian IT sector. However, tariffs will likely increase costs for Indian tech’s American customers across sectors, leading them to reduce spending on IT services and postpone discretionary spending. This could extend deal cycles, delay projects, and weaken IT sector growth. A US recession could deepen these impacts further. 

In Q3FY25, Birlasoft’s net profit fell 27.3% YoY, while revenue grew slightly by 0.9% YoY, impacted by seasonally weak demand and a drop in net new deals.

You can find more screenershere.

 
Trendlyne Marketwatch
Trendlyne Marketwatch
09 Apr 2025
Market closes lower, Prestige Estates launches four projects with a GDV of Rs 1,613 crore
By Trendlyne Analysis

Nifty 50 closed at 22,399.15 (-136.7, -0.6%), BSE Sensex closed at 73,847.15 (-379.9, -0.5%) while the broader Nifty 500 closed at 20,356.75 (-124.1, -0.6%). Market breadth is in the red. Of the 2,381 stocks traded today, 827 were on the uptrend, and 1,519 went down.

Indian indices closed lower after falling in the morning session. The Indian volatility index, Nifty VIX, rose 5.5% and closed at 21.5 points. The Reserve Bank of India (RBI) cut the repo rate by 25 bps to 6% and shifted its stance to ‘Accommodative’ from 'Neutral' during the Monetary Policy Committee (MPC) meeting.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower. Nifty PSU Bank and Nifty IT Indices were among the top index losers today. According to Trendlyne’s sector dashboard, Pharmaceuticals & Biotechnology emerged as the worst-performing sector of the day, with a fall of 2.2%.

Asian indices closed mixed. European indices are trading in the red. US index futures are trading lower, indicating a negative start to the trading session. Brent crude futures are trading lower as US President Donald Trump’s latest tariffs raise concerns that a prolonged trade war could weaken global energy demand and push the global economy toward recession.

  • Housing and Urban Development Corp sees a long buildup in its April 24 futures series, with open interest increasing by 28.4% and a put-call ratio of 0.4.

  • Prestige Estates launches four projects across Bengaluru, Mumbai, and Hyderabad in Q4FY25, with a total developable area of 14 million sq. ft. and an aggregate gross development value (GDV) of Rs 1,613 crore.

  • Mphasis secures a US patent for a system that improves the speed and efficiency of quantum machine learning. It converts complex data into a format better suited for quantum systems, using fewer quantum bits and enabling faster data processing.

  • Jefferies initiates coverage on Vishal Mega Mart with a ‘Buy’ call and a target price of Rs 125 per share. The brokerage highlights the company's strong presence in Tier-2 cities and beyond. It expects the firm's earnings to grow at a CAGR of 27% over FY25-27.

  • Metal stocks fall up to 18% a week after the implementation of Trump's reciprocal tariffs. Nomura notes that metals made up 6.7% of India’s exports to the US before the tariffs. Although the direct impact of the tariffs on the domestic metal industry might be minimal, a global slowdown could potentially drive down metal prices.

  • Epack Durables rises as it plans to set up a washing machine manufacturing plant with a capacity of 6 lakh units per annum and an investment of Rs 50 crore.

  • Sasken Technologies' subsidiary, Sasken Design Solutions, Singapore, acquires a 100% stake in BORQS International Holding Corp for $40 million (approximately Rs 338 crore). Following this acquisition, BORQS International will become a step-down subsidiary of the company.

  • Emkay Global initiates coverage on Fino Payments Bank with a ‘Buy’ call and a target price of Rs 300 per share. The brokerage highlights the company's digital-first banking model, which has driven CASA growth by over 40% and lower funding costs. It believes Fino's diversification into digital payment services will boost its margins and profitability by FY28.

  • RBI lowers its CPI inflation forecast for FY26 to 4% from its previous projection of 4.2%. This revision reflects a more optimistic outlook for price stability, primarily due to easing food inflation pressures, assuming normal monsoon conditions and no major supply-side disruptions.

  • Axis Direct maintains its 'Buy' call on KEC International with a target price of Rs 742 per share. This indicates a potential upside of 13.3%. The brokerage remains positive on the stock due to its strong order book, improving margins, and industry tailwinds. It expects the company's revenue to grow at a CAGR of 15.2% over FY25-27.

  • Symphony's board of directors schedules a meeting for April 12 to consider and approve the sale of technology and Intellectual Property Rights (IPRs) by its Chinese subsidiary, Guangdong Symphony Keruilai Air Coolers (GSK), to IMPCO for approximately $5.1 million (around Rs 43.5 crore). The board will also authorise GSK to use the sale proceeds to repay its loan to Symphony, India.

  • Mahindra & Mahindra's subsidiary, Mahindra Aerostructures, bags an order from Airbus to manufacture and assemble the main fuselage of the H130 light single-engine helicopter.

  • RBI's MPC revises its FY26 GDP growth forecast downwards by 20 bps to 6.5%, citing challenges from global trade and inflation. For the coming quarters, GDP growth is projected at 6.5% in Q1, 6.7% in Q2, 6.6% in Q3, and 6.3% in Q4. The central bank notes that economic activity slowed to a four-year low of 6.5% in FY25, primarily due to declining urban demand, persistent inflation, and lower loan disbursals due to stricter regulatory measures.

  • Phoenix Mills reports a 15% YoY increase in consumption sales to Rs 3,262 crore in Q4FY25, supported by strong performance at Phoenix Palassio and continued ramp-up at Phoenix Mall of the Millennium, Phoenix Mall of Asia, and the Phoenix Palladium expansion. For FY25, consumption rises 21% YoY to Rs 13,762 crore.

  • Garden Reach Shipbuilders & Engineers bags an order worth Rs 490 crore from the Geological Survey of India to design, construct, and deliver two coastal research vessels in the next 36 months.

  • Muthoot Finance, Manappuram Finance, and IIFL Finance fall sharply as the Reserve Bank of India plans uniform gold loan guidelines for banks and non-banking financial companies (NBFCs) to bring clarity and fairness. Gold loans account for 98% of Muthoot Finance’s assets under management (AUM), 50% for Manappuram, and 21% for IIFL Finance.

  • RBI Governor Sanjay Malhotra says the shift from ‘Neutral’ to ‘Accommodative’ means future moves will likely be a rate cut or status quo. He highlights ongoing trade talks with the US and notes that the dollar has weakened amid global uncertainty from new tariffs.

  • Shyam Metalics and Energy falls sharply as its aluminium foil sales decline 2% YoY to 1,991 million tonnes (MT) in March. However, the company's stainless steel sales grow 13% YoY to 6,619 MT.

  • NTPC commissions the second part of its 150 MW Dayapar Wind Energy Project Phase-I, adding 90 MW in Bhuj, Gujarat. The first part of 50 MW became commercially operational in November 2023. With this, NTPC Group’s total installed and commercial capacity reaches 80,020 MW.

  • Dr. Reddy's Laboratories, Aurobindo Pharma, and Gland Pharma are falling as US President Trump announces plans to impose tariffs on the pharma sector.

  • The Reserve Bank of India (RBI) cuts the repo rate by 25 bps to 6%. The central bank also shifts its stance to ‘Accommodative’ from 'Neutral' during the Monetary Policy Committee meeting.

  • Home First Finance rises sharply as its board of directors approves a Rs 1,250 crore qualified institutional placement (QIP) of equity shares at a floor price of Rs 1,019.3 per share.

  • IRB Infrastructure Developers is rising as its toll collections increase 15.8% YoY to Rs 556.8 crore in March. Toll revenue for FY25 surges 23% YoY to Rs 6,360 crore.

  • Senco Gold's revenue grows 19.1% YoY in Q4FY25, with retail growth of 23% YoY, driven by robust wedding season demand.

  • Vodafone Idea allocates 3,695 crore shares worth Rs 36,950 crore to the Department of Investment and Public Asset Management (DIPAM). This comes after the Ministry of Communications directs the company to convert outstanding dues from the spectrum auctions into equity shares.

  • Indian markets slumped today. Nifty 50 was trading at 22,410.55 (-125.3, -0.6%) , BSE Sensex was trading at 73,772.13 (-455.0, -0.6%) while the broader Nifty 500 was trading at 20,365.30 (-115.5, -0.6%)

  • Market breadth is sharply down. Of the 1,929 stocks traded today, 416 were on the uptrend, and 1,457 went down.

Riding High:

Largecap and midcap gainers today include Max Healthcare Institute Ltd. (1,123.15, 4.6%), Godrej Consumer Products Ltd. (1,242.35, 3.8%) and Max Financial Services Ltd. (1,167.50, 3.1%).

Downers:

Largecap and midcap losers today include Muthoot Finance Ltd. (2,139.95, -6.7%), Ipca Laboratories Ltd. (1,290, -5.1%) and Phoenix Mills Ltd. (1,493.05, -5.0%).

Movers and Shakers

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

Top high volume gainers on BSE included Jyothy Labs Ltd. (379.60, 10.3%), Mastek Ltd. (2,137.30, 8.3%) and Route Mobile Ltd. (975.40, 5.6%).

Top high volume losers on BSE were Muthoot Finance Ltd. (2,139.95, -6.7%) and RHI Magnesita India Ltd. (458.60, -1.2%).

Ramkrishna Forgings Ltd. (740.40, 1.5%) was trading at 36.3 times of weekly average. Sundram Fasteners Ltd. (892.65, 5.2%) and Home First Finance Company India Ltd. (1030, 4.3%) were trading with volumes 9.9 and 5.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

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

Stocks touching their year highs included - Chambal Fertilisers & Chemicals Ltd. (638.05, 1.0%), InterGlobe Aviation Ltd. (5,193.75, 0.7%) and Narayana Hrudayalaya Ltd. (1,689.50, 0.5%).

Stocks making new 52 weeks lows included - Elgi Equipments Ltd. (402.20, -3.8%) and NMDC Ltd. (61.31, -0.4%).

17 stocks climbed above their 200 day SMA including Ujjivan Small Finance Bank Ltd. (39.03, 4.0%) and Hindustan Petroleum Corporation Ltd. (379.30, 2.8%). 11 stocks slipped below their 200 SMA including Piramal Pharma Ltd. (208.37, -6.0%) and Authum Investment & Infrastructure Ltd. (1,566.50, -5%).

 
logo
The Baseline
09 Apr 2025
By Omkar Chitnis

India’s two-wheeler market is caught up in a high-speed race, with a diverse lineup of models competing for the spotlight. Two-wheeler volume grew 30%, reaching 18.7 million units in FY25, up from 13.8 million units in FY13. 

Over the past decade, Indian two-wheeler manufacturers have launched new models across all segments to stay competitive. Strategic global collaborations have further fueled innovation, enabling Indian players to bring fresh, premium offerings to consumers. 

Hero MotoCorp collaborated with Harley-Davidson to develop the X440 series motorcycles, while TVS partnered with BMW Motorrad to launch premium bikes over 300cc. Similarly, Bajaj Auto joined Triumph Motorcycles to introduce mid-capacity bikes. These partnerships and new launches helped the Indian companies tap the growing demand for mid-capacity and premium bikes.

But the road hasn’t been smooth for Hero. Hero’s pole position has been under threat since 2013, while Honda and TVS Motors are expanding their market presence. Changing consumer preferences, innovative product strategies, and a growing focus on premium motorcycles and electric models are reshaping the industry.

Before Hero and Honda parted ways in 2011, Hero Honda dominated the two-wheeler space with a 68.9% market share. The split created an opportunity for other manufacturers to expand and challenge Hero’s leadership. Today, four major players – Hero MotoCorp, Honda, TVS Motor, and Bajaj Auto – control nearly 80% of the market, and the landscape is shifting fast.

Honda is going after Hero for the top spot. Minoru Kato, Executive Officer at Honda Motor Co., said, “We have launched highly competitive products of all kinds. With the advantage of 6,000 dealers and service networks covering all the geographies of India, we have increased unit sales. Now, the number one position is well within our sight.”

In this edition of Chart of the Week, we analyze Hero MotoCorp’s declining market share, the rise of its competitors, shifting consumer preferences, and the growth of the electric two-wheeler segment.

Hero’s market share dips amid limited product portfolio

Hero MotoCorp has remained India and the world’s largest two-wheeler manufacturer for 24 years. However, its market share declined from 48% in CY13 to 28% in FY25. The company sold 58.9 lakh two-wheelers in FY25, recording a 5.5% increase from the previous year. Hero's sales growth has been slow, with a 5-year CAGR of just 2.2%. In contrast, TVS sales have grown at a CAGR of 14.2% over the same period. 

Hero generates 93% of its revenue from motorcycles, with 80% from just the Splendor and HF Deluxe models. Scooters contribute just 7% to their total revenue. The company faces intense competition from Honda, TVS, and Suzuki. 

Hero is mainly recognized as a commuter brand focused on entry-level motorcycles, making it difficult to establish its credibility in the premium segment, priced above Rs 2 lakh. This positioning has restricted its ability to build a strong brand presence for models above 150cc, as its new models accounted for only 7% of sales in the first nine months of FY25.

TVS Motors has strengthened its market position, increasing its share from 13% in FY13 to 17.4% in FY25. Its scooter market share rose from 32% to 46% during the same period.

TVS maintains a balanced revenue mix, generating 49% of its revenue from motorcycles, 38% from scooters, and the rest from mopeds. In motorcycles, new models have significantly contributed to growth. The Apache series and Raider accounted for 70% of total motorcycle sales, while models launched in 9MFY25 accounted for 20% of the segment’s sales.

TVS gained a foothold in the premium segment early by launching multiple variants in the Apache series in 2016. Hero entered this category in Q3FY25 with six premium models, including the Xpulse 200, Xtreme 160R, and Mavrick 440. Honda holds a 25.3% market share, supported by its presence in both the scooter and motorcycle segments. 

Peers challenge Hero’s rural presence

Hero remains a dominant player in rural markets due to its affordable, fuel-efficient motorcycles designed for local needs, with over 55% of its sales coming from rural areas. Its commuter motorcycles, including the Splendor, Passion, and HF Deluxe, continue to lead the segment. In FY24, the Splendor held a 26.5% market share among commuter bikes, while the HF Deluxe maintained an 8.3% share.

TVS and Bajaj have also expanded their presence in rural India. TVS increased its rural market share from 15.5% in FY18 to 45% in FY24, driven by entry-level models like Star City, Jupiter, and Radeon, priced between Rs 75,000 and Rs 1 lakh. Bajaj's rural market share rose from 12.7% to 13.9% as it focused on entry-level motorcycles. The company introduced Discover, Platina, CT series, and CNG-powered Freedom 125 for rural buyers.

Honda, on the other hand, generates 70% of its sales from urban areas. The Activa remains the top-selling urban commuter model, contributing 38.8% of Honda’s sales. In FY24, Honda sold four Activa scooters every minute. But over the past decade, Honda has expanded its rural and semi-urban network from 1,950 outlets in 2013 to 6,000 in 2025. This growth, supported by models like the Shine 100 and SP125, strengthened its presence in urban and rural markets. 

Royal Enfield leads the shift to premium bikes

A decade ago, the premium motorcycle segment was relatively overlooked. It is now growing rapidly, with more consumers choosing bikes above 250cc for better performance and advanced features. The shift towards aspirational, higher-capacity motorcycles is driven by rising disposable income, a younger demographic, and evolving consumer preferences. 

Royal Enfield continues to dominate the premium motorcycle segment. In the 250–700cc category, it holds an 88.2% market share, led by models like the Classic, Meteor, and Himalayan. 

Bajaj Auto is expanding in the 350–500 cc category through partnerships with KTM and Triumph, introducing models like the KTM 390 and the Bajaj Dominar 400. Hero MotoCorp entered the premium segment in Q3FY25 with six models, including the Karizma XMR and Mavrick, along with collaborations with Harley-Davidson. 

Honda plans to launch three new premium bikes in India next year under the Rebel series through its BigWing network in the 300cc and 500cc segments to compete with Royal Enfield’s dominance in this market.

TVS has also gained traction in the premium segment. Its partnership with BMW Motorrad has increased its motorcycle volume above 310cc, rising from 1.1% of total sales in FY20 to 11.8% in FY24. In the 150–200cc category, TVS holds a 40% market share, led by the Apache series, Ronin, and Commando.

Government push is reshaping the electric two-wheeler segment

India’s electric two-wheeler market grew 33% YoY in CY24 to 19 lakh units. Despite this growth, EVs account for only 5% of total two-wheeler sales. Government initiatives like the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme and lower GST rates continue to support adoption, especially in rural and semi-urban areas.

Ola Electric leads the EV segment with a 30% market share and a 1.9% share of the overall two-wheeler market. However, its market share has dropped from 52% in early 2024 to 30% in FY25. Bajaj Auto’s Chetak electric scooter holds a 20% market share, benefiting from the FAME II subsidy, which has helped lower costs and expand its reach.

TVS Motor is the second-largest electric scooter manufacturer, holding a 21% market share. It sold 2.3 lakh iQube in FY25, a 30% year-on-year growth. The company has benefited from the Production-Linked Incentive (PLI) scheme, which supports the iQube scooter and TVS X production.

Hero MotoCorp entered the EV market in late 2022 and has grown rapidly. Management expects support for its Vida electric scooter under the PLI scheme. Vida’s sales surged 174% year-on-year to 48,673 units in FY25. Additionally, Hero owns a 40% stake in Ather Energy. Its sales rose 20% YoY to 1.3 lakh units in FY25, supported by EMPS 2024 incentives.

In Q3FY25, Honda Motorcycle & Scooter entered the EV segment with its Activa E and QC models. The company plans to introduce 30 electric models globally by 2030, signaling its long-term commitment to the space

 
Trendlyne Marketwatch
Trendlyne Marketwatch
08 Apr 2025
Market closes higher, Info Edge's standalone billings grow 19% YoY in Q4FY25
By Trendlyne Analysis

Nifty 50 closed at 22,535.85 (374.3, 1.7%) , BSE Sensex closed at 74,227.08 (1,089.2, 1.5%) while the broader Nifty 500 closed at 20,480.80 (375.1, 1.9%). Market breadth is ticking up strongly. Of the 2,421 stocks traded today, 2,010 were gainers and 384 were losers.

Indian indices closed higher, rebounding from Monday’s decline. The Indian volatility index, Nifty VIX, plunged 10.3% and closed at 20.4 points. Info Edge closed 3.9% higher as its standalone billings grew 19% YoY to Rs 983.8 crore in Q4FY25, recruitment billings rose over 18% YoY, while 99acres reported a 22% YoY jump.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, following the benchmark index. Nifty Media and Nifty PSU Bank were the highest-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 4.8%.

European indices are trading higher. Major Asian indices closed in the green, except Indonesia’s IDX Composite and Thailand’s SET indices, which closed 8.4% and 4.5% lower. US index futures are trading higher, indicating a positive start to the session, as investors expect U.S. Trade Representative Jamieson Greer to reveal several countries that have approached the White House to negotiate on tariffs.

  • Siemens sees a short buildup in its April 24 futures series, with open interest increasing by 16.5% and a put-call ratio of 0.5.

  • Brigade Enterprises is rising as it signs a deal to develop premium residential projects on 10 acres of prime land in Mysuru. The project has a gross development value of around Rs 225 crore and a total development potential of 3.7 lakh square feet.

  • Info Edge rises sharply as its standalone billings grow 19% YoY to Rs 983.8 crore in Q4FY25. The company’s recruitment billings rise over 18% YoY, while 99acres reports a 22% YoY jump.

  • Indo Tech Transformers falls sharply as its Chief Executive Officer (CEO), Shridhar Gokhale, tenders his resignation, effective April 7.

  • Goldman Sachs cautions that Brent crude could fall below $40 a barrel by late 2026 in extreme cases like a global GDP slowdown and complete reversal of OPEC+ production cuts. While this is not a base-case scenario, it forecasts Brent to reach $55 by next December. The bank cites downside risks due to escalating trade war tensions and increasing global supply.

  • Housing and Urban Development Corp is rising as it signs a memorandum of understanding (MoU) with the Mumbai Metropolitan Region Development Authority (MMRDA) to provide funding of up to Rs 1.5 lakh crore over five years for infrastructure projects in the Mumbai Metropolitan Region.

  • Tata Motors rises as Jaguar Land Rover (JLR) wholesales increase 1.1% YoY to 1.1 lakh units in Q4FY25, driven by higher sales across the Range Rover, Range Rover Sport, and Defender models. However, JLR wholesales remains flat YoY for FY25, largely due to weak performance in China.

  • Paisalo Digital is rising as its board of directors approves raising Rs 2,700 crore by issuing shares, foreign currency bonds, or other securities via a preferential issue, private placement, qualified institutional placement (QIP), or other modes.

  • Analysts expect RBI's MPC to announce a 25 bps rate cut on April 9. G Chokkalingam, founder of Equinomics Research, believes a 25 bps cut won't significantly impact markets due to global tariff concerns, but a 50 bps cut could boost market sentiment. He cites sluggish credit growth, weak corporate earnings, and trade tensions as bigger investor concerns.

  • Keystone Realtors is rising as its collections grow 11% to Rs 746 crore, and pre-sales increase 1% to Rs 854 crore in Q4FY25. The growth is driven by the completion of two RERA projects in Mumbai and the addition of three new projects with a gross development value (GDV) of Rs 1,487 crore.

  • Mahindra & Mahindra's wholesales increase 19.3% YoY to 79,751 units in March. Commercial vehicle sales rise 14.4% YoY, while exports jumps 2.6X during the month.

  • Arkade Developers rises sharply as it enters an agreement for cluster redevelopment in Borivali, with an estimated gross development value (GDV) of Rs 865 crore. The company will redevelop Satya Shreepal Nagar A, B & C Co-operative Housing Society (CHS), Sheetal Shreepal CHS, and Sai Shreepal CHS with a total saleable carpet area of 2.4 lakh square feet.

  • Goldman Sachs upgrades its ratings on PNB Housing Finance and Axis Bank to 'Buy' and 'Neutral' on State Bank of India. The brokerage notes that Axis Bank is a beneficiary of liquidity infusion in the system, which should support its loan growth trajectory. For PNB Housing, Goldman Sachs expects the lender's improving outlook to result in strong loan growth and healthy profitability. It also sees a balanced risk/reward scenario for SBI.

  • Goldman Sachs initiates coverage on Suven Pharma with a ‘Buy’ call and a target price of Rs 1,350. The brokerage expects a strong rebound and structural growth this fiscal year, driven by new drug approvals and a turnaround in AgChem macros.

  • Bank of Maharashtra is rising as its deposits grow by 13.5% YoY to Rs 3.1 lakh crore, and gross advances increase 17.8% YoY to Rs 2.4 lakh crore in Q4FY25. The bank's CASA deposits grow by 17.8% YoY during the quarter.

  • Dolly Khanna cuts stake in India Metals & Ferro Alloys to below 1% in Q4FY25. She held a 1.2% stake in the company in Q3FY25.

  • India's Commerce Minister, Piyush Goyal, says India will withhold market access to BYD, citing strategic concerns and caution over investments from China. This move could have significant implications for M&M in the competitive EV market as it continues to expand its electric vehicle portfolio. M&M still relies on BYD's blade battery for its current EV lineup.

  • Godrej Properties' bookings grow 7% YoY to Rs 10,163 crore in Q4FY25, selling 3,703 homes, led by new launches like Godrej Riverine in Noida, Godrej Astra in Gurugram, and Godrej Madison Avenue in Hyderabad.

  • Sobha is rising as its Q4FY25 sales value increases by 22.1% YoY to Rs 1,835.7 crore. Its average price realisation improves by 4.9% YoY to Rs 11,781 per square foot.

  • PN Gadgil Jewellers is rising as its Q4FY25 revenue grows 5.1% YoY, helped by a 50% YoY jump in the retail segment and a 243.8% YoY surge in the e-commerce segment.

  • The Indian Government hikes excise duty on petrol and diesel by Rs 2 per litre. The duty on diesel now stands at Rs 10 per litre and on petrol at Rs 13. The public won't be impacted by the hike, as OMCs have announced to absorb the cost. However, this will reduce their marketing margin by Rs 2 per litre, though their overall retail fuel margin still exceeds Rs 11.

  • Nuvama Wealth Management promoter PAG employs JP Morgan and Morgan Stanley to exit its 54.9% stake, worth Rs 10,579 crore.

  • KPI Green Energy terminates its order from Sai Bandhan Infinium for a 66.2 MW hybrid power project under the captive power producer (CPP) segment due to changes in technical requirements after receiving the order.

  • Titan is rising as its revenue grows by 25% YoY in Q4FY25, driven by improvements in the jewellery, watches & wearables, CaratLane, and eyecare segments. The company adds 72 new stores during the quarter, expanding its total store network to 3,312.

  • Bharat Electronics secures a contract worth Rs 2,210 crore from the Ministry of Defence to supply Radar Warning Receivers (RWR), Missile Approach Warning Systems (MAWS), and Counter Measure Dispensing Systems (CMDS) for the Indian Air Force’s Mi-17 V5 helicopters.

  • Upbeat trading today, as Nifty 50 was trading at 22,524.35 (362.8, 1.6%), BSE Sensex was trading at 74,013.73 (875.8, 1.2%) while the broader Nifty 500 was trading at 20,461.75 (356.1, 1.8%).

  • Market breadth is overwhelmingly positive. Of the 1,959 stocks traded today, 1,818 were gainers and 113 were losers.

Riding High:

Largecap and midcap gainers today include GlaxoSmithKline Pharmaceuticals Ltd. (2,728.40, 6.0%), PB Fintech Ltd. (1,531.95, 6.0%) and Cholamandalam Investment & Finance Company Ltd. (1,463.30, 5.6%).

Downers:

Largecap and midcap losers today include Indraprastha Gas Ltd. (180.16, -4.1%), Siemens Ltd. (2,763.45, -1.7%) and Mankind Pharma Ltd. (2,347.50, -1.5%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Cholamandalam Financial Holdings Ltd. (1,718.45, 10.2%), Five-Star Business Finance Ltd. (713.25, 6.7%) and Esab India Ltd. (4,601.25, 5.7%).

Top high volume losers on BSE were Delhivery Ltd. (248.90, -7.3%) and Craftsman Automation Ltd. (4,398.50, -1.1%).

AIA Engineering Ltd. (3,100, 0.3%) was trading at 8.5 times of weekly average. Bharti Hexacom Ltd. (1,427.90, 2.0%) and Sonata Software Ltd. (305.50, 1.5%) were trading with volumes 4.0 and 3.8 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,

Stock touching their year highs included - InterGlobe Aviation Ltd. (5,157.05, 3.4%).

20 stocks climbed above their 200 day SMA including Cholamandalam Financial Holdings Ltd. (1,718.45, 10.2%) and Authum Investment & Infrastructure Ltd. (1,640, 8.4%). 15 stocks slipped below their 200 SMA including Aegis Logistics Ltd. (778.35, -2.0%) and Redington Ltd. (201.24, -1.1%).

 
Trendlyne Marketwatch
Trendlyne Marketwatch
07 Apr 2025, 03:58PM
Market closes lower, Jubilant Foodworks' revenue grows 33.9% YoY to Rs 2,107 crore in Q4
By Trendlyne Analysis

Nifty 50 closed at 22,161.60 (-742.9, -3.2%), BSE Sensex closed at 73,137.90 (-2,226.8, -3.0%) while the broader Nifty 500 closed at 20,105.70 (-699.7, -3.4%). Market breadth is overwhelmingly negative. Of the 2,461 stocks traded today, 167 showed gains, and 2,276 showed losses.

Indian indices closed sharply lower, driven by Trump tariffs. The Indian volatility index, Nifty VIX, surged 65.6% and closed at 22.8 points. Tata Motors fell 5.3% to a new 52-week low of Rs 555.6 as its UK-based subsidiary, Jaguar Land Rover, temporarily halted vehicle shipments to the US due to a 25% import tariff on all automobiles.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, following the benchmark index. Nifty Metal and Nifty Realty closed lower. According to Trendlyne’s sector dashboard, General Industrials emerged as the worst-performing sector of the day, with a fall of 5.8%.

European indices are trading lower, while major Asian indices closed in the red. US index futures are trading lower, indicating a negative start to the session, as the Trump administration maintains its stance on tariffs. After China, the EU may retaliate with tariffs on $28 billion worth of US goods. Meanwhile, Goldman Sachs raised its US recession forecast to 45%, up from 35%, marking its second increase in a week.

  • Phoenix Mills sees a short buildup in its April 24 futures series, with open interest increasing by 18.8% and a put-call ratio of 4.2.

  • Jubilant Foodworks' revenue from operations grows 33.9% YoY to Rs 2,107 crore in Q4FY25. Domino’s India posts a 12.1% YoY like-for-like sales growth. The company adds 56 new stores during the quarter, taking the total store count to 3,316.

  • Aavas Financiers' asset under management (AUM) rises 18% YoY to Rs 20,420 crore in Q4FY25. The company’s disbursements grow 7% YoY to Rs 2,020 crore during the quarter.

  • Indian Bank's Q4FY25 total business reaches Rs 13.3 lakh crore, up 8.4% YoY. Total deposits grow 7.1% to Rs 7.4 lakh crore, and gross advances rise 10.1% YoY during the quarter.

  • Nuvama highlights that Godrej Consumer Products' Q4FY25 performance was broadly in line with its expectations. The brokerage estimates 8.5% YoY value growth for GCPL’s India operations but notes that its volume growth fell 5% YoY, below the expected 3-4% rise. Meanwhile, a strong recovery in home care helped offset softness in personal care, especially soaps.

  • Tata Steel's India steel production grows 2% YoY to 5.5 million tonnes (MT) in Q4FY25. Its delivery volumes improve by 3.3% YoY to 5.6 MT. For FY25, the company's production rises 4.7% YoY to 21.8 MT.

  • JSW Steel's consolidated steel production grows 12% YoY to 76.3 lakh tonnes in Q4FY25. Capacity utilisation at its Indian operations stands at 93% for the quarter.

  • Indraprastha Gas (IGL) raises CNG prices by Rs 1/kg in Delhi and Rs 3/kg in other markets. Delhi accounts for 70% of IGL’s total CNG sales, while the remaining 30% comes from other regions.

  • HSBC Sec maintains a 'Buy' rating on Dixon Technologies with a target price of Rs 20,000. The brokerage highlights the company's growth, driven by the domestic market through import substitution, customer addition, and increased market share. It views Trump's announcement of higher tariffs on China, Vietnam, and Thailand as a blessing in disguise.

  • Oil and Natural Gas Corp (ONGC) and Oil India fall over 4% in trade as Brent crude drops nearly 4% to $63.2 a barrel, hitting a four-year low after an 11% decline last week, pressuring oil-linked stocks.

  • Dr. Reddy's Laboratories is falling as it receives a show cause notice from the Income Tax Department for Rs 2,396 crore. The notice is related to the merger of Dr. Reddy’s Holding.

  • IndusInd Bank's net advances rise 1.4% YoY to Rs 3.5 lakh crore in Q4FY25, and deposits grow by 6.8% YoY to Rs 4.1 lakh crore. However, the bank's CASA ratio contracts by 510 bps YoY to 37.9%, indicating a higher cost of funds and lower margins.

  • The National Company Law Tribunal (NCLT) dismisses IDBI Bank's insolvency plea against Zee Entertainment, filed in December 2022 to recover Rs 149.6 crore. The tribunal rejected the plea, stating the default occurred during the period covered by Section 10A of the IBC, which blocks insolvency proceedings for defaults between March 25, 2020, and March 25, 2021.

  • Bajaj Housing Finance reports a 26% YoY rise in assets under management to Rs 1.1 lakh crore in FY25. Its disbursements grow 25% YoY to Rs 14,250 crore. The company appears in a screener of stocks with improving book value per share over the past two years.

  • Mazagon Dock Shipbuilders plunges as the Government of India decides to sell an additional 47.7 lakh shares (1.2% stake) through the oversubscription option in the offer for sale. The floor price for the OFS is set at Rs 2,525 per share.

  • Goldman Sachs retains its ‘Buy’ rating on Trent but lowers the target price to Rs 6,760, citing weaker-than-expected sales growth. For FY25, Trent's standalone gross revenue grew 39% YoY, below the brokerage's forecast of 42%.

  • Kawaljeet Saluja, Head of Research at Kotak Institutional Equities, forecasts low-to-mid single-digit earnings growth for Tier-1 IT companies like TCS, Infosys, and Wipro in FY25. This cautious outlook is driven by a sluggish US economy, with subdued discretionary spending amid macroeconomic uncertainties and the potential risks of a recession.

  • Siemens plunges sharply to a new 52-week low of Rs 2,450 as it trades on the record date for the demerger of its energy business into a separate entity, Siemens Energy India.

  • Kalyan Jewellers' India operations report a revenue growth of 39% YoY in Q4FY25, driven by robust wedding demand. The company opens 25 new showrooms in India during the quarter.

  • Godrej Properties signs an agreement to develop a residential project in Versova, Mumbai, with a saleable area of 4.4 lakh square feet and a revenue potential of Rs 1,350 crore.

  • Global benchmark Brent crude falls around 4% to $63.2 per barrel, a four-year low, after an 11% drop last week. West Texas Intermediate stood at $59.8. The decline follows Saudi Aramco’s decision to cut Arab Light crude by $2.3 for deliveries to Asian buyers in May after a surprise announcement from OPEC+ last week of a significant increase in output.

  • Delhivery's board of directors approves the acquisition of around 99.4% stake in Ecom Express for a consideration of up to Rs 1,407 crore. Following the completion of the acquisition, Ecom will become a subsidiary of the company.

  • Force Motors falls sharply as its monthly exports drop 77.6% YoY to 94 units in March. Meanwhile, monthly wholesales rise 0.9% YoY to 3,700 units.

  • Tata Motors plunges to a new 52-week low of Rs 555.6 as its UK-based subsidiary, Jaguar Land Rover (JLR), announces a temporary halt in vehicle shipments to the United States. This comes after the US government imposes a 25% tax on all car and auto part imports.

  • ITC acquires 2.6 lakh shares of Ample Foods for Rs 131 crore, raising its stake to 43.8%. The company plans to raise its shareholding to 62.5% by April 2027, with an additional investment of Rs 56 crore.

  • Gloom in markets in early trading. Nifty 50 was trading at 21,888.35 (-1016.1, -4.4%), BSE Sensex was trading at 72,293.28 (-3071.4, -4.1%) while the broader Nifty 500 was trading at 19,773.20 (-1032.2, -5.0%)

  • Market breadth is sharply down. Of the 2,107 stocks traded today, 38 were on the uptick, and 2,047 were down.

Riding High:

Largecap and midcap gainers today include GMR Airports Ltd. (82.22, 1.8%), Linde India Ltd. (5,885, 1.6%) and Adani Wilmar Ltd. (269.75, 1.4%).

Downers:

Largecap and midcap losers today include Siemens Ltd. (2,812.45, -42.9%), Trent Ltd. (4,740.95, -14.8%) and Mazagon Dock Shipbuilders Ltd. (2,317.30, -8.9%).

Volume Rockets

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

Top high volume gainers on BSE included Delhivery Ltd. (268.35, 3.7%), Vedant Fashions Ltd. (784, 2.4%) and Linde India Ltd. (5,885, 1.6%).

Top high volume losers on BSE were Siemens Ltd. (2,812.45, -42.9%), Trent Ltd. (4,740.95, -14.8%) and Cholamandalam Financial Holdings Ltd. (1,550, -8.5%).

Anupam Rasayan India Ltd. (707.20, -7.4%) was trading at 13.3 times of weekly average. Godrej Consumer Products Ltd. (1,160.10, 0.3%) and Torrent Pharmaceuticals Ltd. (3,221.25, -2.0%) were trading with volumes 6.4 and 4.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

132 stocks tanked below their 52 week lows.

Stocks making new 52 weeks lows included - AIA Engineering Ltd. (3,105, -2.7%) and Atul Ltd. (5,166.80, -3.7%).

2 stocks climbed above their 200 day SMA including Aegis Logistics Ltd. (794.50, 2.2%) and Rainbow Childrens Medicare Ltd. (1,397.95, -0.8%). 75 stocks slipped below their 200 SMA including BLS International Services Ltd. (350.60, -9.0%) and Mazagon Dock Shipbuilders Ltd. (2,317.30, -8.9%).

 
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The Baseline
04 Apr 2025
Five Interesting Stocks Today - April 4, 2025
By Trendlyne Analysis

1.Larsen & Toubro:

This construction conglomerate is up 2% over the past month after receiving orders worth over Rs 30,000 crore. In late March, L&T secured its largest order to date, worth over Rs 15,000 crore from QatarEnergy LNG, to establish two offshore complexes.

L&T continues to reduce orderbook risks from domestic fluctuations in recent quarters, with a growing number of orders now coming from international clients. L&T Management has expressed confidence in easily surpassing the 10% order inflow growth target set for FY25, as they anticipate that capital expenditures in India will pick up starting in Q4, supported by a strong international pipeline.Forecaster projects revenue to increase by 18.4% YoY in Q4, with net profit expected to rise by 8%.

The company’s net working capital to sales ratio improved significantly, declining by 390 bps in December 2024, driven by robust customer collections during the quarter.  P. Ramakrishnan, Head of Investor Relations, expects the ratio to remain at this level in FY25. The company appears in a screener of stocks that efficiently utilise their capital to enhance return on employed capital.

Thanks to free cash flow generation over the past couple of years, Ramakrishnan says, “The company is stepping up capital allocation into newer business areas like green energy, data centres and semiconductor design.” These initiatives are expected to bear fruit in the company’s upcoming Lakshya plan for FY27-31.

Geojit BNP Paribas maintains a ‘Buy’ rating on L&T. The brokerage anticipates that a strong order pipeline will drive revenue growth at a CAGR of 16% over FY25-27. With a target price of Rs 3,863, the stock has a potential upside of over 18%.

2. Tata Motors:

This car and utility vehicle manufacturer dropped 8.2% in the past week due to concerns over new US tariffs. On April 2, US President Trump imposed a 25% tariff on foreign auto products. Tata Motors is the most affected among Indian automakers as Jaguar Land Rover (JLR) sales in the US contribute over 20% of its revenue.

JLR, the luxury vehicle arm of Tata Motors, contributed most of the company's revenue in FY24. Its wholesale volume in the US increased from 26% in FY24 to 33% in 9MFY25. Analysts estimate a 5-10% drop in JLR’s volume due to US tariffs, which could reduce its earnings per share (EPS) by 15-20%.

JLR’s North America sales grew 48% YoY in Q3FY25. JLR’s CFO Richard Molyneux set a 10% EBIT margin target for Q4FY25 but cautioned that macroeconomic challenges could make it difficult. Recently, Tata Motors’ management reaffirmed its 10% EBIT margin target for Q4 and its plan to be net debt free by FY25.

Tata Motors’ India business reported an 8.4% YoY drop in commercial vehicle (CV) revenue due to weak demand, while passenger vehicle (PV) revenue fell 4.3% YoY in Q3FY25. Shailesh Chandra, MD of Tata Passenger Vehicles and Electric Mobility, said, “We saw 2% growth in 9MFY25 and expect the same for FY25. Demand has been unpredictable, rising in some months and falling in others due to macroeconomic factors.” He added that if economic conditions improve and the budget provides support, the industry could return to 6-7% growth in FY26. Tata Motors, like other auto majors, is facing competition from Chinese players in the international markets and from domestic competitors like M&M and Maruti in the Indian market, as new launches ramp up.

ICICI Securities has a ‘Buy’ rating for the stock with a target price of Rs 831, implying an upside of 35.4%. The brokerage expects Tata Motors' new PV launches and the revamp of its small commercial vehicle (SCV) business to drive growth. It projects a 7.2% revenue CAGR and 19.2% net profit CAGR over FY25-27.

3. Mazagon Dock Shipbuilders:

This aerospace & defence company declined by over 7% today. On April 3rd the company’s promoter, the President of India, proposed to sell a total of around 1.9 crore equity shares (4.8% stake) in the firm via an offer for sale (OFS) issue at Rs 2,525 per share.

On April 2nd, the company began production of a Multi-Purpose Vessel (MPV) for M/s Navi Merchants Denmark. Mazagon will design, build and deliver six MPVs at a value of approximately $14 million (approx. Rs 119 crore).

The company’sQ3FY25 results saw net profit rise 28.8% YoY to Rs 807 crore, on the back of declines in raw material and project related costs. Its revenue increased by 30.4%but missed forecaster estimates by 2.2% due to a 9% YoY decline in its order book to Rs 34,800 crore. It appears on the screener for stocks lying in the ‘Sell’ zone.

Morgan Stanley highlighted that naval contracts for submarines and warships involve substantial, long-lead-time projects. The company's strong Q3 profit margins were driven by cost efficiencies on existing, older contracts. However, as new, specifically assigned orders come in, the company will not be able to maintain similar  cost efficiency. Consequently, the brokerage believes that profit margins will return to normal levels within approximately 2.5 years, coinciding with the completion of the current order backlog.

Sanjeev Singhal, Chairman & MD of Mazagon Dock, commented on the order book,  “ We are executing the existing orders. So the FY25 normalized margin for our industry should be around 12-15% level. Except for the exceptional items like reversal of Liquidated Damages (LDs) and depending upon the D-448 (the acceptance documents for the delivery of ‘Vaghsheer’ submarine) execution, so we don't see much change for the existing orders.”

Geojit BNP Paribas notes that the stock was trading at a 61% premium to its 5 year average last week. Considering this expensive valuation coupled with its likely moderation in earnings growth the brokerage has assigned a ‘Sell’ rating to the stock with a target price of Rs 2,318, based on an expected 24.5x FY27 adjusted EPS.

4. PNB Housing Finance:

Thishousing finance company surged 20.3% over the past month, driven by 202% YoY growth in its affordable-segment loan book to Rs 5,000 crore in FY25 and two upgrades from credit rating agencies. 

On March 29,CARE Ratings upgraded the company’s long-term bank facilities to 'CARE AA+' with a 'Stable' outlook, citing stronger asset quality and an improved market position. In reaction, the stock rose 5% on April 1.

Meanwhile,ICRA also upgraded the PNB Housing Finance’s rating to '[ICRA]AA+' with a 'Stable' outlook due to improved asset quality, strong capital resilience, and the stock’s inclusion in the futures and options segment. This upgrade also drove the rise in share price.

InQ3FY25, the company reported a 42.8% YoY increase in net profit, reaching Rs 483.3 crore. A 31% rise in retail disbursements and a 17.5% increase in retail loan assets drove growth. The net NPA improved by 34 basis points YoY, reaching 0.8% in Q3FY25.

Girish Kousgi, MD & CEO,said, “We are confident of achieving our target of a Rs 1 lakh crore retail book by the end of FY27, with the affordable segment contributing 15%, or Rs. 15,000 crore; emerging markets contributing 25%, or Rs. 25,000 crore; and the remaining from the Prime business.”

Management aims to achieve an NIM above 4% and plans to expand into Tier 2 and Tier 3 cities, growing its network to 500 branches by FY27. It also projects its corporate loan book to reach Rs 7,000-8,000 crore by FY27 and expects the retail loan book to grow by 17-18% annually. Management plans to introduce Loan Against Property (LAP) as a separate segment from FY26.

Motilal Oswal reiterates its ‘Buy’ rating on PNB Housing with a target price of Rs 1,160. The brokerage expects retail loan CAGR of approximately 18% by FY27 and projects an improvement in NIM from FY26, driven by lower credit costs and recoveries from previously written-off loans.

5. Shaily Engineering Plastics:

Thisplastics and health products company has nosedived in share price over the past week, falling 20% after ending FY25 on a high note with a year gain of over 250%. The stock has been hit by US President Trump's tariff announcements on Wednesday. 

Shaily's relatively new pharma product line has been key to its dramatic growth momentum in the past two years. While revenues for Shaily's consumer and industrial segmentsgrew by 20% and 13% respectively YoY, its pharma segment has been the big outperformer for 9MFY24, growing at 57%. The company appears in a screener of stocks with high TTM EPS growth. 

Shaily has ridden the massive growth wave in GLP weight-loss drugs, as a manufacturer of medical pens. The company has built a moat manufacturing insulin pens and auto injector pens (the latter is used to deliver doses of weight loss drugs). These pens are highly regulated, with a long approval process in the US and Europe. Shaily has received the requisite approvals and faces limited competition here. 

The management identified this space early on, and the company’s UK R&D center has helped Shaily rapidly ramp up its innovation efforts over the past two years. In February, Managing Director Amit Sanghvi talked about the company's plans to grow aggressively in pen manufacturing, with a focus on auto-injectors. "From having about 35 million capacity right now, we're looking at adding another 50 million to 80 million over a short period of time", he said. 

The new tariff regime announced by Trump however, may ruin the party. For Shaily’s clients, 60-70% of end-customers are in the US. Trump's ‘Liberation Day’ announcements are therefore a complicating factor for its business outlook. 

Monarch Capital is among the brokerages with an accumulate call on Shaily (with a target price of Rs. 1,600). The analysts note that Shaily aims to increase its healthcare segment revenue contribution to 25% by FY27E vs. 18.6% currently.

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
04 Apr 2025
Market closes lower, L&T Finance's loan book expands 18.8% YoY in Q4FY25
By Trendlyne Analysis

Nifty 50 closed at 22,904.45 (-345.7, -1.5%) , BSE Sensex closed at 75,364.69 (-930.7, -1.2%) while the broader Nifty 500 closed at 20,805.35 (-438.1, -2.1%). Market breadth is highly negative. Of the 2,439 stocks traded today, 469 showed gains, and 1,926 showed losses.

Indian indices closed in the red, pulled down by sharp losses in metal, pharma and IT stocks. The Indian volatility index, Nifty VIX, rose 1.1% and closed at 13.8 points. India's Services PMI declined marginally to 58.5 in March, down from 59 in February, driven by a slight slowdown in sales due to softer demand and easing inflationary pressures.

Nifty Midcap 100 and Nifty Smallcap 100 closed in the red. Nifty Metal & BSE Metal were among the top index losers today. According to Trendlyne’s Sector dashboard, Metals & Mining emerged as the worst-performing sector of the day, with a fall of 5.8%.

Asian indices closed in the red, while European indices are trading lower. US index futures traded in the red, indicating a cautious start to the trading session. Nasdaq and S&P 500 faced their steepest weekly losses since September 2024, marking a sixth down week in seven. JPMorgan estimates the likelihood of a global recession will rise to 60%, up from 40%, if Trump's tariff plan moves forward as initially proposed. Meanwhile, investors will be eyeing a speech by Federal Reserve Chair Jerome Powell on the economic outlook, set to be delivered later today.

  • Money flow index (MFI) indicates that stocks like Vardhman Textiles, Hindustan Aeronautics, and Solar Industries are in the overbought zone.

  • Ujjivan Small Finance Bank's Q4FY25 total deposits rise 19.7% YoY to Rs 37,617 crore and gross advances grow by 7.9% YoY to Rs 32,122 crore. Its CASA ratio stands at 25.6% as against 26.5% in Q4FY24.

  • Goldman Sachs maintains a 'Buy' rating on Zomato with a lower target price of Rs 310. The brokerage believes the pessimism surrounding the stock is exaggerated and that the risk-reward is tilted towards the upside. However, it also points out that Zomato's current market price suggests either its food delivery business is worthless or Blinkit's margins have halved structurally.

  • L&T Finance's retail loan book expands 18.8% YoY to Rs 95,100 crore in Q4FY25. The company's retail disbursements drops 1.1% YoY due to a decline in rural demand. Its features in a screener of stocks with increasing trend in non-core income.

  • Shares of upstream oil companies, including ONGC and Reliance Industries, decline as crude oil prices fall below $70 per barrel. Although oil, gas, and refined product imports were excluded from the recently implemented US tariffs, concerns remain that these measures could fuel inflation, slow economic growth, and escalate trade tensions—all of which may weigh on oil prices.

  • GR Infraprojects secures an arbitration award of Rs 106.5 crore against Bihar’s Road Construction Department. The dispute was over claims related to a road project under an engineering, procurement, and construction (EPC) contract.

  • CLSA initiates coverage on Federal Bank with a ‘Buy’ rating and a target price of Rs 230. While the brokerage expects a muted near-term outlook, it projects RoE to improve to 14% by FY27–28, up from the 10-year average of 11%.

  • Union Bank falls sharply as it misses its FY25 guidance. Loan growth came in at 8.6%, below the guided ~13%, while deposit growth stood at 7.2%, missing the projected 9%–11% range.

  • CSB Bank’s Managing Director and CEO, Pralay Mondal, forecasts continued AUM growth of over 25%. He expects net interest margins (NIMs) to remain in the 4–4.3% range for the next quarter. By 2030, the bank aims to achieve a balanced portfolio distribution of 30% wholesale, 30% retail, 20% gold loans, and 20% MSME lending.

  • Power Grid Corp's board approves raising up to Rs 6,000 crore for FY26 via unsecured, non-convertible bonds through private placement.

  • YES Bank's deposits grow by 6.8% YoY to Rs 2.8 lakh crore, and advances increase 8.2% YoY to Rs 2.5 lakh crore in Q4FY25. The bank's CASA ratio stands at 34.3%, as against 30.9% in Q4FY24.

  • Angel One falls sharply as its average daily turnover (ADTO) drops 17.3% YoY to Rs 36.4 lakh crore in March. Its gross client acquisition drops 43.6% YoY to 4.7 lakh during the month. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • India's Services PMI declines marginally to 58.5 in March, down from 59 in February, staying well above the 50-mark. The decline was driven by a slight slowdown in sales due to softer demand and easing inflationary pressures.

  • Morgan Stanley downgrades Bharat Forge to ‘Equal Weight’ and lowers its target price to Rs 1,170 per share. The brokerage believes the 25–27% tariff burden could weigh on revenue growth. While it expects the costs to be gradually passed on to customers, Bharat Forge could face a 200 basis point margin impact in the near term.

  • Bandhan Bank’s deposits grow by 11.8% YoY to around Rs 1.5 lakh crore in Q4FY25. The bank's advances also increase 10.6%, while its CASA ratio declines by 570 bps YoY.

  • Bajaj Finance is rising as its AUM grows by 26% YoY to Rs 4.2 lakh crore in Q4FY25. New loans booked also improve 36% YoY to 1.1 crore in the quarter. It appears in a screener of stocks with book value per share improving for two years.

  • Indian Energy Exchange reports a 29% YoY increase in traded electricity volume for March 2025 to 11,215 million units (MU). For Q4FY25, the traded electricity volume gained 18% YoY to 31,747 MU. The company traded 13 lakh Renewable Energy Certificates (RECs) in March, achieving a growth of 18% YoY.

  • Pharma stocks like Lupin, Aurobindo Pharma, Ipca Labs, and Marksans Pharma fall over 6% in trade after US President Trump signals upcoming tariffs on the sector, stating it is under review and will be announced soon.

  • Oil India and ONGC falls sharply as crude oil prices drops overnight by nearly 7%. Brent and WTI crude fell after OPEC+ unexpectedly decided to increase production to 4.1 million barrels per day (mbpd) in May instead of the planned 1.4 mbpd

  • CLSA downgrades Tata Motors to an ‘Outperform’ rating from ‘High Conviction Outperform’ and lowers the target price to Rs 765 per share. The brokerage believes the 25% import tariffs in the US and the discontinuation of Jaguar models will reduce Jaguar Land Rover (JLR) volumes by 14% year-on-year in financial year 2026. It also expects Tata Motors' EBIT margins to decline to 7% in financial year 2026-2027 from the 9% anticipated this year due to a lower scale.

  • The Life Insurance Corporation of India (LIC) issues a clarification in response to a United States Trade Representative (USTR) report, refuting allegations of receiving preferential treatment from the Indian government and regulators.

  • UltraTech Cement's board of directors approves the acquisition of Wonder WallCare for up to Rs 235 crore. The deal is set to close in 90 days and gives UltraTech access to a 6 lakh metric ton (MT) per annum wall putty plant in Rajasthan.

  • Mazagon Dock Shipbuilders falls sharply as the central government plans to divest up to 4.8% stake via an offer for sale (OFS) on April 4 for non-retail investors and April 7 for retail investors. The floor price is set at Rs 2,525 per share, a 7.8% discount to Thursday’s close.

  • Avenue Supermarts' (D-Mart) standalone revenue grows 16.7% YoY to Rs 14,462 crore in Q4FY25. The company adds 28 new stores during the quarter, bringing its total store count to 415.

  • HDFC Bank rises as its gross advances grow 5.4% YoY to Rs 25.1 lakh crore in Q4FY25, helped by increase in domestic retail, commercial, and rural banking loans. Its deposits also grow by 14.1% to Rs 23.8 lakh crore during the quarter.

  • Nifty 50 was trading at 23094.45 (-155.7, -0.7%) , BSE Sensex was trading at 76128 (-167.4, -0.2%) while the broader Nifty 500 was trading at 21073.50 (-169.9, -0.8%)

  • Market breadth is overwhelmingly negative. Of the 2015 stocks traded today, 480 were in the positive territory and 1485 were negative.

Riding High:

Largecap and midcap gainers today include Procter & Gamble Hygiene & Healthcare Ltd. (13,983.40, 2.8%), Marico Ltd. (677.30, 2.5%) and Torrent Pharmaceuticals Ltd. (3,309.65, 1.9%).

Downers:

Largecap and midcap losers today include Vedanta Ltd. (401.45, -8.7%), Tata Steel Ltd. (140.39, -8.6%) and Bharat Forge Ltd. (1,026.05, -8.2%).

Movers and Shakers

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

Top high volume gainers on BSE included Rainbow Childrens Medicare Ltd. (1,409.55, 2.6%) and Castrol India Ltd. (203.28, 1.2%).

Top high volume losers on BSE were Vedanta Ltd. (401.45, -8.7%), Tata Steel Ltd. (140.39, -8.6%) and Coforge Ltd. (6,607.90, -7.7%).

Asahi India Glass Ltd. (607.10, -2.3%) was trading at 5.6 times of weekly average. Signatureglobal (India) Ltd. (1,118, 0.0%) and Laurus Labs Ltd. (574.45, -7.4%) were trading with volumes 4.5 and 3.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

21 stocks hit their 52 week lows.

Stocks making new 52 weeks lows included - Zydus Lifesciences Ltd. (868.45, -3.7%) and Central Bank of India (36.17, -1.8%).

6 stocks climbed above their 200 day SMA including Rainbow Childrens Medicare Ltd. (1,409.55, 2.6%) and Federal Bank Ltd. (195, 0.4%). 30 stocks slipped below their 200 SMA including Vedanta Ltd. (401.45, -8.7%) and Tata Steel Ltd. (140.39, -8.6%).