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Trendlyne Marketwatch
Trendlyne Marketwatch
11 Mar 2025
Market closes higher, NLC India's board approves a fundraising of $200 million through ECBs
By Trendlyne Analysis

Nifty 50 closed at 22,497.90 (37.6, 0.2%), BSE Sensex closed at 74,102.32 (-12.9, 0.0%) while the broader Nifty 500 closed at 20,302.50 (36, 0.2%). Market breadth is sharply down. Of the 2,441 stocks traded today, 745 were on the uptick, and 1,667 were down.

Indian indices closed higher with the Nifty 50 paring its losses in the morning session. The Indian volatility index, Nifty VIX, rose 0.6% and closed at 14.1 points. IndusInd Bank closed 27.1% lower after disclosing discrepancies in its forex derivatives portfolio, causing a 2.4% drop in net worth and a potential Rs 1,500 crore profit impact.

Nifty Smallcap 100 closed in the red, while Nifty Midcap 100 closed in the green. S&P BSE Telecom and BSE Realty were among the highest-performing indices of the day. According to Trendlyne’s sector dashboard, Realty emerged as the best-performing sector of the day, with a rise of 28%.

European indices are trading mixed. Major Asian indices closed mixed. US index futures are trading lower, indicating a cautious start to the trading session, after President Donald Trump failed to rule out a recession on the back of import tariffs.

  • Relative strength index (RSI) indicates that stocks like Godrej Properties, Hindalco Industries, Tata Steel and Avanti Feeds are in the overbought zone.

  • NLC India falls as it receives in-principle approval from its board of directors to raise external commercial borrowings (ECB) worth $200 million (~Rs 1,743 crore) in Japanese Yen, with an additional green shoe option.

  • Navin Fluorine International begins commercial production at its new hydrofluorocarbon (HFC) plant with the first shipment dispatched on Monday. The company has invested Rs 84 crore to expand HFC (R32) production capacity by 4,500 tonnes per annum (TPA) at its Surat unit.

  • Thermax's subsidiary, Thermax Chemical Solutions Private, to form a specialty chemicals joint venture (JV) with Brazil's Oswaldo Cruz Química. The JV will focus on manufacturing, trading, marketing, and selling specialty chemicals and products.

  • Jagdish Gupta, Executive Chairman of J Kumar Infraprojects, highlights the company's current order book of Rs 25,000 crore and expects to secure an additional Rs 10,000 crore worth of orders over the next 12-15 months. He adds that the company bagged a contract win from the Mumbai Railway Vikas Corporation (MRVC), valued at Rs 120.9 crore. Gupta also projects a revenue of Rs 7,000 crore for FY27.

  • Ashok Leyland falls sharply as Maharashtra's Budget 2025 imposes a 7% motor tax on vehicles used for construction work and light goods carrying vehicles from April 1. It also raises the tax on CNG four-wheelers by 1% and imposes a 6% tax on electric vehicles (EVs) above Rs 30 lakh.

  • Zydus Lifesciences is rising as its board of directors approves the acquisition of a controlling stake (85.6%) in Amplitude Surgical SA, France, for €256.8 million (approximately Rs 2,442 crore). The company’s long-term plan is to delist Amplitude Surgical from Euronext Paris.

  • HSBC favours Godrej Properties, DLF, and Prestige Estates Projects in the real estate sector. The brokerage highlights that most real estate developers can complete ongoing projects without relying on additional sales. It adds that free cash flows remain positive, balance sheets are strong, and margins are expected to improve in the near term.

  • Sharekhan retains its 'Buy' call on State Bank of India with a target price of Rs 980 per share, indicating a potential upside of 34.2%. The brokerage believes the impact of rate cuts on the bank's net interest margins (NIM) will be minimal due to a lower share of the repo-linked loan book. It expects the lender's net interest income (NII) to grow at a CAGR of 10.2% over FY25-27.

  • Hitachi Energy India falls sharply as it sets the floor price for its qualified institutional placement (QIP) at Rs 12,112.5 per share, a 4% discount to Monday's closing. The company aims to raise Rs 4,200 crore through the QIP.

  • MSTC rises sharply as it bags a contract from Coal India to engage as its e-auction service provider for coal and coal products for two years.

  • According to a Morgan Stanley report, India is the best-positioned economy in Asia for growth amid global trade tensions. This growth is fueled by robust services exports, limited reliance on goods exports, and favourable government policies. With easing monetary policies and rising domestic demand, India's economy is expected to remain strong despite global uncertainties.

  • Hindustan Zinc signs a power delivery agreement (PDA) with Serentica Renewables to supply 530 MW of renewable energy, up from the previously agreed 450 MW. This increases its renewable energy share to over 70% of its total power requirement.

  • Syngene International acquires a US biologics facility from Emergent Manufacturing Operations Baltimore for $36.5 million (Rs 318 crore). This acquisition expands Syngene's single-use bioreactor capacity to 50,000 litres.

  • Aditya Birla Capital is rising as it invests Rs 300 crore in its subsidiary, Aditya Birla Housing Finance, through a rights issue of equity shares.

  • CLSA upgrades Persistent Systems to an 'Outperform' rating with a target price of Rs 9,267. The brokerage names the stock as its top pick in the IT sector, suggesting AI as a catalyst for a new tech cycle that will greatly benefit Indian IT services companies. It notes that Persistent Systems is the only Nifty IT constituent currently trading in the green. CLSA projects US dollar sales to grow at a 21% CAGR in FY25-27.

  • Indoco Remedies is falling as it receives Form 483 with one observation from the US FDA following an inspection at its Clinical Research Organisation, AnaCipher, in Hyderabad.

  • Supreme Industries rises as it signs a memorandum of understanding (MoU) to acquire Wavin Industries’ Indian piping business for $30 million (~Rs 262 crore). The deal will add 73,000 million tonnes per annum capacity to its piping division and is expected to close by June 30.

  • NTPC is rising as it signs a memorandum of understanding (MoU) with the Chhattisgarh Government to set up 7,400 MW of renewable power and nuclear power plants with a capex of Rs 96,000 crore.

  • Indian banks face challenges in mobilizing deposits, resulting in a higher loan-to-deposit ratio, which reached approximately 126% in February 2025. According to an India Ratings analysis, deposits have consistently lagged behind the banking system's credit growth since FY22, with an average shortfall of 416 basis points. Despite various lender initiatives, deposit growth remains slow, compelling banks to depend on alternative funding sources and increasing competition for bulk deposits.

  • IndusInd Bank plunges to its three-year low of Rs 696.7 after disclosing discrepancies in its forex derivatives portfolio. The issue involves low-liquidity swaps not marked to market, causing a 2.4% drop in net worth and a potential Rs 1,500 crore profit impact.

  • Ashoka Buildcon bags an order worth Rs 311.9 crore from Maharashtra State Electricity Transmission (MSETCL) to set up a 400/220 KV substation at Nandgaon Peth, Amravati.

  • Anupam Rasayan India receives a 10-year letter of intent (LoI) worth $106 million (~ Rs 922 crore) from a leading Korean MNC for a high-performance niche chemical. The company will commence the supply of the chemical in FY26.

  • HEG is rising as its board approves a Rs 250 crore investment from Singularity Growth Opportunities Fund II in Bhilwara Energy (BEL), with an option for an additional Rs 250 crore. The investment supports BEL's expansion in renewable energy, battery materials, recycling, and advanced battery systems for energy storage and electric vehicles.

  • Bharat Electronics secures orders worth Rs 843 crore, including RF seekers, a vessel and air traffic management system, an electro-optic repair facility, radar upgrades, spares, and services. This brings its total orders for the current financial year to Rs 14,567 crore.

  • Gloom in markets in early trading. Nifty 50 was trading at 22,370.05 (-90.3, -0.4%), BSE Sensex was trading at 73,743.88 (-371.3, -0.5%) while the broader Nifty 500 was trading at 20,155.60 (-110.9, -0.6%).

  • Market breadth is highly negative. Of the 1,959 stocks traded today, 299 were in the positive territory and 1,614 were negative.

Riding High:

Largecap and midcap gainers today include Tata Communications Ltd. (1,492.35, 8.7%), Bharti Hexacom Ltd. (1,449.65, 8.5%) and Phoenix Mills Ltd. (1,656.85, 6.8%).

Downers:

Largecap and midcap losers today include IndusInd Bank Ltd. (655.95, -27.2%), Ashok Leyland Ltd. (199.96, -3.3%) and Au Small Finance Bank Ltd. (522.10, -3.1%).

Volume Rockets

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

Top high volume gainers on BSE included Tata Communications Ltd. (1,492.35, 8.7%), Chennai Petroleum Corporation Ltd. (551.50, 7.5%) and Graphite India Ltd. (426.80, 6.6%).

Top high volume losers on BSE were IndusInd Bank Ltd. (655.95, -27.2%), Godrej Industries Ltd. (1,124.60, -2.4%) and Birlasoft Ltd. (400.65, -2.2%).

HEG Ltd. (399.60, 3.0%) was trading at 11.4 times of weekly average. AstraZeneca Pharma India Ltd. (7,807.35, 2.4%) and Tube Investments of India Ltd. (2,882.05, 6.2%) were trading with volumes 4.2 and 4.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

20 stocks were underachievers and hit their 52 week lows.

Stocks making new 52 weeks lows included - Astral Ltd. (1,287.05, -0.2%) and IDFC First Bank Ltd. (55.36, -1.8%).

5 stocks climbed above their 200 day SMA including One97 Communications Ltd. (713.35, 7.2%) and ICICI Securities Ltd. (830.35, 4.4%). 15 stocks slipped below their 200 SMA including Hitachi Energy India Ltd. (12,150, -4.4%) and Lupin Ltd. (1,976.10, -1.7%).

 
Trendlyne Marketwatch
Trendlyne Marketwatch
10 Mar 2025
Market closes lower, Mahindra & Mahindra's wholesales rise 15% YoY in February
By Trendlyne Analysis

Nifty 50 closed at 22,460.30 (-92.2, -0.4%), BSE Sensex closed at 74,115.17 (-217.4, -0.3%) while the broader Nifty 500 closed at 20,266.50 (-176.9, -0.9%). Market breadth is moving down. Of the 2,475 stocks traded today, 467 were on the uptick, and 1,978 were down.

Indian indices closed lower, with the benchmark Nifty 50 index closing at 22,460.3 points. The decline was driven by uncertainty over US tariffs. The Indian volatility index, Nifty VIX, rose 3.8% and closed at around 14 points. Tata Power signed a memorandum of understanding (MoU) with the Andhra Pradesh Government to set up 7,000 MW of wind, solar and hybrid power projects with a capex of Rs 49,000 crore.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower. BSE Oil & Gas and Nifty Realty closed in the red. According to Trendlyne’s sector dashboard, Telecommunications Equipment emerged as the worst-performing sector of the day, with a fall of 4.3%.

European indices are trading lower, except for Russia’s RTSI and MOEX. Major Asian indices closed mixed. US index futures are trading lower, indicating a negative start to the session. The US economy added 151,000 jobs in February, compared to estimates of 160K jobs. The unemployment rate rose MoM to 4.1%. Meanwhile, Ford Motor announced plans to invest around $4.8 billion in its German unit, Ford-Werke, as part of its European business revival strategy.

  • Money flow index (MFI) indicates that stocks like Hindalco Industries, Castrol India, and Tata Steel are in the overbought zone.

  • Mahindra & Mahindra's wholesales increase 14.8% YoY to 83,702 units in February. Passenger vehicle sales rise 18.9% YoY, while exports nearly double during the month.

  • Baazar Style Retail rises as it adds three new stores in Uttar Pradesh, Bihar and Assam, increasing its total number of stores to 210.

  • Gensol Engineering falls sharply as its promoter sells a 2.4% stake (or 9 lakh) in the company. The company will use the funds to improve liquidity and capex plans.

  • Fitch Ratings maintains a negative outlook on Adani Energy Solutions. The credit rating agency believes that ongoing investigations in the US could expose governance weaknesses and impact financial stability, leading to a negative rating in the near to medium term. Fitch notes that AESL secured Rs 5,100 crore in funding through onshore and offshore banking facilities, but the investigation's outcome could affect its future access to capital markets.

  • IRB Infrastructure Developers' total toll collection rises 18% YoY to Rs 529 crore in February, with per-day toll collection increasing 18.8% YoY to Rs 19 crore.

  • GMR Airports increases its stake in Delhi International Airport (DIAL) to 74% from 64% after acquiring a 10% stake from Germany's Fraport AG for $126 million (approximately Rs 1,099 crore).

  • HFCL's subsidiary, HTL, secures a Rs 44.4 crore contract from the Indian Army to supply tactical optical fibre cable assemblies. These cables are designed in India to withstand heavy armored vehicles and include durable military-grade connectors.

  • Atim Kabra, Director at Astra Microwave Products, forecasts 25% revenue growth to Rs 1,200-1,300 crore in FY26, driven by strong global defense demand and a healthy order pipeline. He expects order inflows to exceed Rs 1,250-1,300 crore, with around Rs 900 crore converting into sales from the existing order book and Rs 250-300 crore from new orders.

  • ICICI Securities initiates coverage on Inventurus Knowledge Solutions (IKS) with a 'Hold' call and a target price of Rs 1,820 per share. This indicates a potential upside of 4.2%. The brokerage expects revenue growth due to synergistic large acquisitions and US healthcare industry-led tailwinds. It expects the firm's revenue to grow at a CAGR of 21.2% over FY25-27.

  • JSW Steel is rising as its consolidated steel production grows 12% YoY to 24.1 lakh tonnes in February. Capacity utilisation at its Indian operations stands at 93.5% in the month.

  • Lupin receives final approval from the US FDA for its abbreviated new drug application (ANDA) for Rivaroxaban Tablets. The drug is bioequivalent to Janssen Pharmaceuticals' Xarelto Tablets, used to treat coronary artery disease (CAD) and peripheral artery disease (PAD). According to IQVIA, the tablets have an annual market value of $446 million for the year ending January 2025.

  • Reports suggest that 9.4 lakh shares of Bharti Airtel, amounting to Rs 153.2 crore, have changed hands in a large trade.

  • Geojit BNP Paribas upgrades CG Power and Industrial Solutions to a 'Buy' call from 'Accumulate' with a target price of Rs 696 per share. This indicates a potential upside of 13.8%. The brokerage is upbeat about the company's focus on expanding its export capabilities in power systems to increase international revenue share. It expects the firm's revenue to grow at a CAGR of 26.4% over FY25-27.

  • Indian Renewable Energy Development Agency is falling as the Reserve Bank of India (RBI) rejects its request for equity investment to develop and implement a 900 MW Upper Karnali Hydro Electric Power project in Nepal.

  • Neogen Chemicals falls sharply as it reduces the revenue guidance to Rs 765-800 crore during FY25-26 due to the fire at its Multi-Purpose Plant (MPP3) in Dahej, causing damage to the structure, machinery, and equipment. The company estimates the plant will be operational in 9-12 months.

  • Nuvama retains its ‘Buy’ rating on Pidilite Industries with a target price of Rs 3,660. The brokerage notes the company’s plans to expand in the electronics and EV adhesives market. It notes Pidilite's emphasis on premiumisation, innovation, and strengthening its brand leadership. Nuvama also underscores the focus on innovative products in the decorative paints and waterproofing segments.

  • Sun Pharmaceutical to acquire US-based Checkpoint Therapeutics, an immunotherapy and targeted oncology company, for $355 million (approximately Rs 3,095 crore).

  • Shyam Metalics and Energy is rising as its stainless steel sales surge 110% YoY to 8,552 million tonnes (MT) in February. Aluminium foil sales increase 23% YoY to 1,686 MT. However, the company's carbon steel sales decline 5% YoY.

  • Shilpa Medicare receives Form 483 with one observation from the US FDA after an inspection at its arm, Shilpa Pharma Lifesciences' Unit-1 in Raichur.

  • Jefferies maintains its constructive stance on Indian metal stocks and notes their outperformance versus the Nifty50 by 15-20% YTD in 2025. The brokerage highlights China’s recovery and potential safeguard duties on steel in India as key drivers. It has a ‘Buy’ call on Tata Steel and Hindalco Industries and a ‘Hold’ rating on JSW Steel.

  • Alembic Pharmaceuticals is falling as it receives Form 483 with one observation from the US FDA following an inspection at its bioequivalence facility in Vadodara.

  • IndusInd Bank plunges to its 52-week low of Rs 881.1 per share as the Reserve Bank of India (RBI) approves the reappointment of Sumant Kathpalia as the Managing Director and Chief Executive Officer (CEO) for one year.

  • Nazara Technologies sells its 94.9% stake in OpenPlay Technologies to Moonshine Technology, the parent company of PokerBaazi, for Rs 104.3 crore.

  • Tata Power is rising as it signs a memorandum of understanding (MoU) with the Andhra Pradesh Government to set up 7,000 MW of wind, solar and hybrid power projects with a capex of Rs 49,000 crore.

  • Nifty 50 was trading at 22,578.95 (26.5, 0.1%), BSE Sensex was trading at 74,474.98 (142.4, 0.2%), while the broader Nifty 500 was trading at 20,476.95 (33.6, 0.2%).

  • Market breadth is in the green. Of the 2,069 stocks traded today, 1,260 were gainers and 723 were losers.

Riding High:

Largecap and midcap gainers today include Solar Industries India Ltd. (9,837.10, 3.7%), Power Grid Corporation of India Ltd. (271.30, 3.0%) and JSW Energy Ltd. (505.35, 2.8%).

Downers:

Largecap and midcap losers today include Dixon Technologies (India) Ltd. (13,131.15, -5.6%), CG Power and Industrial Solutions Ltd. (596.80, -5.3%) and Oil And Natural Gas Corporation Ltd. (223.19, -4.2%).

Movers and Shakers

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

Top high volume gainers on BSE included Godrej Industries Ltd. (1,152.65, 3.9%), Sanofi India Ltd. (5,660.55, 3.3%) and Aavas Financiers Ltd. (1,752.35, 3.1%).

Top high volume losers on BSE were IndusInd Bank Ltd. (900.50, -3.9%), Honasa Consumer Ltd. (218.99, -2.2%) and Sundram Fasteners Ltd. (950, 0.0%).

Tata Teleservices (Maharashtra) Ltd. (61.11, 0.6%) was trading at 4.9 times of weekly average. Chalet Hotels Ltd. (793.35, 0.4%) was trading with volume 3.5 times weekly average on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

6 stocks hit their 52 week lows.

Stocks making new 52 weeks lows included - Astral Ltd. (1,289.15, -3.3%) and IDFC First Bank Ltd. (56.37, -1.7%).

7 stocks climbed above their 200 day SMA including Aavas Financiers Ltd. (1,752.35, 3.1%) and Gujarat Fluorochemicals Ltd. (3,810, 2.1%). 14 stocks slipped below their 200 SMA including Dixon Technologies (India) Ltd. (13,131.15, -5.6%) and Godfrey Phillips India Ltd. (5,109.10, -4.1%).

 
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The Baseline
07 Mar 2025
Five Interesting Stocks Today - March 07, 2025
By Trendlyne Analysis

1. Rail Vikas Nigam:

This railwayconstruction firm has risen around 4.7% in the last three days after itreceived a letter of acceptance (LoA) from the Himachal Pradesh State Electricity Board (HPSEBL) worth Rs 729.8 crore. The contract involves the development of distribution infrastructure in Himachal Pradesh’s Central Zone.

RVNL manages the complete life cycle of projects in railway track construction, railway electrification, and signalling solutions. Over the past week, the company received an LoA worth Rs 135.7 crore from Central Railway and also emerged as the lowest bidder for a Rs 156.4 crore South Western Railway project. 

During Q3FY25, RVNL’s net profit declined 13.1% YoY to Rs 311.4 crore due to higher operating expenses and finance costs. Revenue decreased 2.6% YoY to Rs 4,567.4 crore during the quarter and missed Trendlyne’s Forecaster estimates by 6.3%. Analysts highlighted that the company’s performance during the quarter was impacted by weak execution and a slowdown in government capex. 

The company’s order book stood at Rs 97,000 crore as of Q3FY25, with competitive bid projects now making up 45% of its pipeline. RVNL plans to bid for more Metro and BOT (Build, Operate, Transfer) projects from NHAI (National Highways Authority of India). 

Commenting on the order pipeline, Pradeep Gaurji, the Chairman and Managing Director, said, “We have signed MoUs (Memorandums of Understanding) with Peru and Turkey for railway projects and are also exploring solar ventures. We aim to bid for Rs 80,000 crore in orders and await results for Rs 10,000-12,000 crore worth of bids.”

For FY25, RVNL expects revenue to remain flat at Rs 22,000 crore and aims to sustain this level in FY26. By FY27, revenue is projected to rise to Rs 27,000-28,000 crore. The company expects EBITDA margins of 5.5-6%, with further improvements.

Despite the muted outlook, Axis Securities gives the company a ‘Buy’ rating and sets a target price of Rs 501. The brokerage believes that RVNL's robust order book will drive revenue growth. It also expects a pick-up in execution in the near term and projects margins at around 6% in FY25-26. 

2. Apollo Hospitals Enterprise:

Thishospital company rose 1.7% over three trading sessions following its March 4announcement of a partnership with Belgium-based Ion Beam Applications (IBA) to introduce the Proteus One Proton Beam Therapy system in India. 

The India proton therapy market is projected to grow at a CAGR of 10% from FY25 to FY32, increasing from $21.3 million in FY24 to $45.6 million by FY32. This therapy is used for specific cancer types, including brain, head, and neck tumors, pediatric cases, and complex cancers.

Following the partnership, Apollo Hospitalsplans to invest Rs 250 crore in the project to expand its existing proton therapy capacity in Chennai. The new system is expected to be operational by FY28 and will increase treatment capacity by 350 patients annually, bringing the total to 850. 

The company also plans toadd 3,512 beds between FY26 and FY30, with a total capex of Rs 6,100 crore. Krishnan Akhileswaran, Group Chief Financial Officer,said, “Starting in the second half of next year, we will open hospitals in Pune and Kolkata and a dedicated cancer hospital in Delhi. These facilities will become operational in H2.” The expansion includes commissioning 1,737 beds in FY26 and FY27 and another 1,775 beds beyond FY28.

InQ3FY25, the company reported a net profit increase of 51.8% YoY to Rs 372.3 crore, beating Forecaster estimates by 7.5%. Revenue grew 14.6% YoY to Rs 5,590.7 crore, supported by an 8% YoY increase in inpatient discharges and an 8% YoY growth in average revenue per occupied bed (ARPOB).

The Healthcare Services (Hospital)segment, accounting for 50.4% of total revenue, saw a 13% rise in revenue to Rs 2,785 crore. This was driven by higher revenue from complex procedures in key specialties like Cardiac Sciences, Oncology, and Neurosciences. Apollo HealthCo (Pharmacy Distribution & Digital Health) segment, contributing 42.6% of total revenue, grew 15%, supported by higher online medicine orders. Meanwhile, the AHLL (Diagnostics & Retail Health) segment, with a 7% revenue share, also grew 15%, driven by higher patient footfall in specialty care.

Prabhudas Lilladhar maintained its ‘Buy’ rating, citing steady hospital revenue growth, expansion plans, and strong Q3 performance. The brokerage noted that Apollo’s digital platform, 24x7, is on track to break even by H2FY26, supporting a target price of Rs 8,100.

3. NCC:

This Hyderabad-based construction company has surged 3.4% over the past week after announcing an order win worth Rs 219 crore. This order from an unspecified state government is for the transport division. The firm shows up in a screener of stocks where mutual funds have increased their shareholding in the past two quarters.

In Q4, the firm reported revenue growth of 2% YoY, while net profit declined 12% YoY during the same period. Flat revenue growth and a decline in profits were due to a slowdown in project execution and delayed receivables, mainly due to the Maharashtra elections. The company expects these metrics to improve in Q4 as the situation normalises.

The firm gets around 75% of its revenue from segments such as building construction, transmission & distribution, and transportation. The remaining 25% comes from other segments like water and railways, irrigation, and mining. As of Q3, NCC’s order book stood at Rs 55,548 crore across various segments, providing revenue visibility for the next 2-3 years.

NCC has emerged as the lowest bidder in projects worth over Rs 10,000 crore and expects to receive orders in the current or upcoming quarter. Neerad Sharma, Head of Strategy and Investor Relations, said, “We see a healthy order pipeline in the future as we have bid for projects worth more than Rs 2.4 lakh crore (across segments and states).”

Axis Securities maintains a ‘Buy’ rating on the company, anticipating revenue and net profit CAGRs of 11% and 27%, respectively, over FY25-27. The stock is in the PE Buy Zone, trading below its historical PE after declining approximately 50% from its all-time high. With a target price of Rs 213, NCC has a potential upside of 15%.

4. Solar Industries India:

This explosives manufacturer has risen by 8.8% over the past week after securing two major orders. On March 4, its wholly-owned subsidiary, Solar Defence and Aerospace, won a Rs 239 crore contract from the Ministry of Defence to supply multi-mode hand grenades. On February 28, the company also secured Rs 2,150 crore in export orders for defence products.

Solar Industries secured its biggest-ever order worth Rs 6,084 crore on February 6, with the Ministry of Defence awarding contracts to its arm, Solar Defence, for ‘Pinaka’ (a rocket launching system). The company's current defence order book stands at Rs 11,000 crore, with over Rs 4,400 crore in export orders set for execution over the next 3-4 years.

The company also signed an agreement with the Maharashtra government to set up a Defence & Aerospace project in Nagpur. The proposed project involves an investment of Rs 12,700 crore. ICICI Securities estimates Solar Industries' capex at Rs 13,000-15,000 crore over the next five years.

Solar Industries released its Q3FY25 results on February 5. Its net profit rose 55% YoY to Rs 315 crore, while revenue grew 37.7%. However, the stock fell 5.6% that day after MD & CEO Manish Nuwal said the company wouldn’t achieve its 30% revenue growth target for FY25. He said, “Due to a slowdown in the domestic market, volume growth has declined and is impacting revenue. However, we can see the market is much better since January.”

Nuwal also noted that the company is seeing strong performance across all segments, including defence, beyond the domestic market. He said, “The defence revenue guidance of Rs 1,500 crore for FY25 is sustainable. There may be a 5-10% variation, but we are confident of reaching the target.”

ICICI Securities retains a ‘Buy’ rating on the stock with a target price of Rs 13,720. Based on the current order book, the brokerage believes the company's defence revenue could grow four times from FY25 levels in the next five years. With this, the EBITDA margin is expected to reach 27.9% by FY27, up from 26.7% in Q3FY25.

5. HPCL:

This refineries & petro-products company gained over 8% over the past week. On March 5, the company rose by over 6% as OPEC+ decided to gradually roll back the 2.2 million barrels per day voluntary production cut, which has been in place since November 2023. The rollback will begin in April 2025 and continue through September- December 2026. As a result, Brent crude oil price hit the $70 per barrel mark, its lowest level since 2021.

Morgan Stanley revised its Brent crude oil price forecasts for the restof the year, expecting the benchmark to trade in the $60-70 range in the second half. It highlighted that lower crude oil prices benefit refiners like HPCL, as reduced input costs enhance profitability and margins. 

Reportedly, India's state-run refiners are close to completing the world's longest liquefied petroleum gas (LPG) pipeline, set to begin operations by June and improve supply chain efficiency. The $1.3 billion (approx. Rs 10,700 crore) project was developed by IHB—a joint venture between Indian Oil, BPCL, and HPCL. The 2,800km pipeline will run from Kandla in the west to Gorakhpur in the north. HPCL would benefit from the increased demand and smoother logistics, potentially leading to higher sales volumes.

The company announced its Q3FY25 results on January 23, 2025. During the quarter, its net profit soared 256.8% YoY to Rs 2,543.7 crore, driven by reduced stock-in-trade purchases and improved inventory management. The company’s revenue beat forecaster estimates by 17.9% due to higher revenue growth in the refining segment. It appears on the screener for stocks showing strong annual EPS growth.

Rajneesh Narang, Chairman & Managing Director of HPCL, said, “Our consolidated EBITDA target is to reach over Rs 40,000 crore by FY28, driven by the expanded Vizag and Barmer refineries and maturing JV projects. We expect capex of Rs 14,000-15,000 crore over the next 3-4 years, with stable debt and improving debt-to-equity. HPCL is seeing 5-6% marketing volume growth, outpacing PSU OMCs, and rising crude throughput.”

Emkay has maintained a ‘Buy’ rating on HPCL but cut its FY26 EPS estimates by 7-10% due to lower Gross Refining Margins (GRMs). The brokerage highlights HPCL’s 8.5% growth in domestic marketing volumes, outperforming the industry growth of 4.5%. However, it warns that adverse commodity prices and downstream margins could affect the company.

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
07 Mar 2025
Market closes flat, D-Mart opens four new stores across TN, Karnataka, MP, and Punjab
By Trendlyne Analysis

Nifty 50 closed at 22,552.50 (7.8, 0.0%), BSE Sensex closed at 74,332.58 (-7.5, 0.0%) while the broader Nifty 500 closed at 20,443.40 (-3.7, 0.0%). Market breadth is in the green. Of the 2,458 stocks traded today, 1,570 were on the uptrend, and 867 went down.

Indian indices closed flat, with the benchmark Nifty 50 index closing at 22,552.5 points. The Indian volatility index, Nifty VIX, declined 1.8% and closed at 13.5 points. Zee Entertainment Enterprises rose over 5% as its promoters reportedly bought 27 lakh shares from the open market, increasing their stake to 4.3% from 4%.

Nifty Midcap 100 closed in the red, while Nifty Smallcap 100 closed in the green. Nifty Media & Nifty Microcap 250 were among the top index gainers today. According to Trendlyne’s Sector dashboard, Telecommunications Equipment emerged as the best-performing sector of the day, with a rise of 2.5%.

Asian indices closed lower, while European indices are trading lower except Russia’s MOEX & RTSI index. US index futures traded in the green, indicating a positive start to the trading session. US Commerce Secretary Howard Lutnick announced that goods and services compliant with the USMCA trade pact would be exempt from duties for an additional month. Following his remarks, the CAD and Mexican Peso rose to session highs against the US Dollar Index Futures. Brent crude oil futures are trading in the green, bolstered by reduced US tariff concerns and expectations of further economic stimulus from China.

  • Relative strength index (RSI) indicates that stocks like Castrol India, Shriram Finance, Hindalco Industries and Tata Steel are in the overbought zone.

  • Avenue Supermarts (D-Mart) rises as the company opens four new stores in Chennai, Tamil Nadu; Chikkaballapur, Karnataka; Ujjain, Madhya Pradesh; and Amritsar, Punjab.

  • Motilal Oswal retains its 'Buy' call on Adani Ports & SEZ with a target price of Rs 1,400 per share. This indicates a potential upside of 21.4%. The brokerage expects the company to outpace India's overall growth, driven by a balanced port mix along India's western and eastern coastlines, and a diversified cargo mix. It expects the firm's revenue to grow at a CAGR of 15.3% over FY25-27.

  • Zee Entertainment Enterprises rises sharply as its promoters reportedly buy 27 lakh shares from the open market, increasing their stake to 4.3% from 4%.

  • Neelkanth Mishra, Chief Economist at Axis Bank and UIDAI Chief, highlights that an additional Rs 2-3 trillion is required to ease financial conditions despite the RBI's liquidity-boosting measures. He also attributes the liquidity stress in India's banking system as one of the three main factors contributing to the slowdown in GDP growth.

  • KR Choksey maintains its 'Accumulate' call on CreditAccess Grameen with a higher target price of Rs 1,086 per share. This indicates a potential upside of 12.1%. The brokerage remains positive on the company's long-term growth owing to continued loan growth, strong collection efficiency, and improving asset quality across key geographies. It expects the firm's net interest income (NII) to grow at a CAGR of 17.2% over FY25-27.

  • Rites rises sharply as it bags an order worth Rs 28 crore from the South Central Railway to conduct a final location survey at the high-speed elevated rail corridor between Hyderabad-Bengaluru and Hyderabad-Chennai.

  • Hexaware Technologies falls sharply as its revenue grows marginally by 0.6% QoQ to Rs 3,154.4 crore in Q4CY24. Net profit rises 5.4% QoQ to Rs 318.9 crore, helped by lower finance costs and tax expenses. The company appears in a screener of stocks near their 52-week low.

  • The Supreme Court of India denies a stay on the Dharavi redevelopment project awarded to the Adani Group despite a challenge from Dubai’s Seclink Technologies Corp. The court asks Seclink to confirm its bid was higher but underscores the need to fulfill all agreed-upon obligations. The project aims to revamp 296 acres of Dharavi, a densely populated region.

  • TCPL Packaging surges to its all-time high of Rs 4,776.9 as it inaugurates a new Greenfield facility near Chennai, improving its presence in South India. The facility increases its capacity to manufacture paperboard cartons.

  • Inox Wind is surging as it bags an order to supply 3 MW class turbines for a 153 MW wind power project in Tamil Nadu. Inox will provide engineering, procurement, & construction (EPC) and multi-year operations & maintenance (O&M) services.

  • Laurus Labs approves a Rs 83.3 crore investment in KRKA Pharma, its joint venture with Slovenia’s KRKA. KRKA will invest Rs 86.7 crore, maintaining the 51:49 shareholding structure. The investment will support land acquisition and initial costs for a new manufacturing facility.

  • Jefferies maintains a 'Buy' rating on DLF with a target price of Rs 1,000. The brokerage believes concerns about the Gurgaon market may be exaggerated given the strong cash flows and the positive response to the Dahlia project launch. It highlights the company's appealing net asset value (NAV) discount, and the upcoming Mumbai project launch could serve as a near-term trigger.

  • J Kumar Infraprojects is rising as it secures an order worth Rs 120.9 crore from Mumbai Railway Vikas Corporation (MRVC). The contract includes building bridges, a road overbridge, a subway, drainage, and earthwork between Borivali and Nallasopara stations. It is part of the proposed fifth and sixth railway lines between Borivali and Virar under the Mumbai Urban Transport Project (MUTP) Phase IIIA.

  • Quality Power Electrical Equipments rises sharply as it acquires a 51% stake in Mehru Electrical and Mechanical Engineers for a cash consideration of Rs 120 crore. The acquisition will help the company improve its high-voltage instrument transformer capabilities and expand its export business.

  • Quess Corp rises as the Bengaluru bench of the National Company Law Tribunal (NCLT) approves its demerger into three separate listed entities: Quess Corp, Digitide Solutions, and Bluspring Enterprises.

  • Rites' Chairman and Managing Director, Rahul Mithal, highlights the company’s recovery efforts. He believes the order book will reach Rs 10,000 crore in the next few quarters and projects 20% revenue growth in FY26 due to improved order execution. Mithal adds that Rites secured over 110 orders worth Rs 1,900 crore in the latest quarter, reaching an all-time high. With an existing order book of Rs 8,000 crore, covering 2-2.5 years, the company remains confident in its growth trajectory.

  • Jana Small Finance Bank rises sharply as the Reserve Bank of India (RBI) grants the company a licence to act as an Authorized Dealer Category-I (AD-I) to deal in foreign exchange.

  • Government appoints Amitava Mukherjee as Chairperson and Managing Director of NMDC and NMDC Steel from March 6, 2025, until his superannuation on February 29, 2028.

  • Bharat Electronics is rising as it bags orders worth Rs 577 crore to supply airborne electronic warfare products, communication systems for submarines, doppler weather radar, and train communication systems, among others.

  • Macquarie upgrades Reliance Industries to an 'Outperform' rating and raises the target price to Rs 1,500. The brokerage highlights several incremental positives like better earnings momentum, the potential listing of Jio and the gradual commissioning of new energy capacities for the oil-to-telecom-to-retail conglomerate in the next 6-12 months. It also projects the company’s earnings CAGR to improve to 16% over 2025-27.

  • Jindal Stainless' board of directors approves divesting its 26% stake in Jindal Coke for a consideration of Rs 194.9 crore.

  • Rail Vikas Nigam is rising as it receives a letter of acceptance worth Rs 156.4 crore from South Western Railway for an engineering, procurement, and construction (EPC) project. The contract includes designing, supplying, installing, and commissioning two 25 KV electrification systems, along with related electrical and telecommunication works in the Rayadurga-Topavagada section.

  • Eris Lifesciences sells its arms, Eris Oaknet Healthcare and Aprica Healthcare, to its subsidiary, Eris Therapeutics, for a consideration of Rs 861.9 crore. This comes as part of Eris Group's internal structuring process.

  • Kalpataru Projects International is rising as it secures new orders worth Rs 2,306 crore in the Transmission & Distribution (T&D) business overseas and building projects in India.

  • Nifty 50 was trading at 22,560.55 (15.9, 0.1%), BSE Sensex was trading at 74,347.14 (7.1, 0.0%), while the broader Nifty 500 was trading at 20,465.75 (18.7, 0.1%).

  • Market breadth is highly positive. Of the 2,017 stocks traded today, 1,499 showed gains, and 470 showed losses.

Riding High:

Largecap and midcap gainers today include Suzlon Energy Ltd. (54.92, 5.4%), Mazagon Dock Shipbuilders Ltd. (2,338.20, 4.3%) and Bajaj Holdings & Investment Ltd. (11,789.10, 3.8%).

Downers:

Largecap and midcap losers today include Zomato Ltd. (216.83, -3.8%), IndusInd Bank Ltd. (936.75, -3.6%) and Oracle Financial Services Software Ltd. (7,569.10, -3.3%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Data Patterns (India) Ltd. (1,628.25, 14.6%), Triveni Turbine Ltd. (613.50, 14.5%) and Inox Wind Ltd. (170.75, 11.5%).

Top high volume losers on BSE were Metro Brands Ltd. (1,112.75, -2.2%), Asahi India Glass Ltd. (626.25, -1.2%) and PI Industries Ltd. (3,219.10, -1.1%).

Sun Pharma Advanced Research Company Ltd. (136.60, 8.4%) was trading at 9.5 times of weekly average. Shyam Metalics and Energy Ltd. (825.50, 8.9%) and Kalpataru Projects International Ltd. (931.20, 1.5%) were trading with volumes 8.0 and 6.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

15 stocks climbed above their 200 day SMA including Shyam Metalics and Energy Ltd. (825.50, 8.9%) and Aadhar Housing Finance Ltd. (426.70, 6.5%). 11 stocks slipped below their 200 SMA including Krishna Institute of Medical Sciences Ltd. (512.50, -2.6%) and Dixon Technologies (India) Ltd. (13,911.25, -2.4%).

 
Trendlyne Marketwatch
Trendlyne Marketwatch
06 Mar 2025
Market closes higher, Inox India secures orders worth Rs 190 crore in January and February
By Trendlyne Analysis

Nifty 50 closed at 22,544.70 (207.4, 0.9%), BSE Sensex closed at 74,340.09 (609.9, 0.8%) while the broader Nifty 500 closed at 20,447.10 (190.6, 0.9%). Market breadth is overwhelmingly positive. Of the 2,465 stocks traded today, 1,902 were on the uptick, and 537 were down.

Indian indices closed higher, with the benchmark Nifty 50 index closing at 22,544.7 points. The Indian volatility index, Nifty VIX, rose 0.4% and closed at 13.7 points. Castrol India surged 10.6% following reports that Saudi Aramco is considering acquiring part or all of BP’s stake in the lubricant business, valued at approximately $10 billion.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher. S&P BSE Energy and Nifty Oil & Gas Indices were among the top index gainers today. According to Trendlyne’s sector dashboard, Forest Materials emerged as the top-performing sector of the day, with a rise of 3.9%.

Asian indices closed mixed. European indices are trading lower, except for Germany’s DAX, which is trading flat. US index futures are trading lower, indicating a negative start to the trading session as investors assess Trump's delay on auto tariffs and await labor data. Brent crude futures are trading higher.

  • IIFL Finance sees a Long buildup in its March 27 futures series, with open interest increasing by 22.3% and a put-call ratio of 0.5.

  • Axis Direct upgrades Navine Fluorine International to a 'Buy' call from 'Hold' with a target price of Rs 4,300 per share. This indicates a potential upside of 4.4%. The brokerage believes the company's CDMO and HPP segments will gain momentum. Navine Fluorine's strong execution track record and long-standing customer relationships will drive sustained growth. It expects the firm's revenue to grow at a CAGR of 26.4% over FY25-27.

  • Britannia Industries' Executive Director (ED) and Chief Executive Officer (CEO), Rajneet Singh Kohli, tenders his resignation, effective March 14.

  • Inox India is rising as it secures orders worth Rs 190 crore in January and February 2025. The orders include transfer lines for a European university, IMO containers for an Australian client, and LNG and industrial gas storage tanks, vaporizers, and cryogenic equipment for clients in Europe, the USA, and India.

  • Sharekhan maintains its 'Buy' call on HDFC Life Insurance with a target price of Rs 870 per share. This indicates a potential upside of 40.8%. The brokerage believes that weak competition, new product launches, strong demand in the non-PAR segment, and focus on tier-2/tier-3 geographies will support growth. It expects the firm's annual premium equivalent (APE) to grow at a CAGR of 17.3% over FY25-27.

  • The Federation of Automobile Dealers Associations (FADA) reports a decline in YoY growth across all vehicle segments in India for February 2025. Two-wheelers fell by 6%, three-wheelers by 2%, passenger vehicles by 10%, and commercial vehicles by 8.6%. Dealers cite challenges with manufacturers pushing excess inventory, worsening weak consumer sentiment.

  • Castrol India surges as Saudi Aramco reportedly considers acquiring part or all of BP’s 51% stake in the company.

  • MSTC rises sharply as the Telangana government issues an order directing all its offices to use MSTC’s eAuction and e-Procurement services for two years.

  • Zaggle Prepaid Ocean Services rises as it signs a one-year deal with Tech Mahindra to provide its spend management dashboard, Zatix. Tech Mahindra will use Zatix to track Corporate and Purchase Card spends issued in partnership with SBI Cards.

  • Dayanand Mittal, an oil and gas research analyst at JM Financial Institutional Securities, believes that US government policy, especially under President Trump, is a key factor influencing oil prices. He favours upstream oil companies like ONGC and Oil India over oil marketing companies (OMCs), mainly due to the anticipated stability of crude oil prices around $70 per barrel.

  • AXISCADES Technologies surges as its subsidiary, Mistral Solutions, partners with Altera to develop high-performance computing solutions for defence applications. The collaboration uses Altera Agilex 9 Direct RF FPGA technology for innovations in the defence and aerospace industries.

  • Motilal Oswal retains its 'Buy' call on Bharti Airtel with a higher target price of Rs 1,985 per share. This indicates a potential upside of 23%. The brokerage anticipates revenue growth driven by more frequent tariff hikes in India's wireless business, acceleration in home broadband services, and strong double-digit growth in Africa. It expects the firm's revenue to grow at a CAGR of 15% over FY25-27.

  • Ola Electric receives Rs 73.7 crore under the Centre's Production Linked Incentive (PLI) Scheme for automotive and auto components (PLI-Auto Scheme). The company becomes India's first two-wheeler electric vehicle (EV) manufacturer to receive the incentive.

  • Wipro launches an AI-first managed services platform, TelcoAI360, for telecom operators. It aims to cut costs and improve customer experience by streamlining processes, automating workflows, and optimizing resource management.

  • RateGain Travel Technologies is rising as it launches an AI-powered digest for airline customers. The tool provides airlines with a daily route performance report, enabling them to make faster, data-driven decisions to optimize pricing and maximize revenue.

  • Kirloskar Industries' Managing Director, Mahesh Chhabria, tenders his resignation, effective March 31.

  • Banks and NBFC stocks rise following RBI's plans to inject additional liquidity of nearly Rs 1.9 lakh crore through OMO (Open Market Operations) purchases and USD/INR Buy/Sell swap auctions. The central bank will conduct two OMO purchases of Rs 50,000 crore each on March 12 and March 18 and a USD/INR Buy/Sell Swap auction of $10 billion (Rs 82,000 crore) for a 36-month tenor on March 24.

  • Bharat Forge is rising as its wholly-owned subsidiary, Kalyani Powertrain, enters a technology licensing agreement with Taiwan's Compal Electronics to manufacture X86 platform servers in India.

  • R Systems International is rising sharply as it launches its internet of things (IoT) smart C2C connector, built on Amazon Web Services (AWS). The smart C2C connector will help service providers manage and integrate various smart home devices.

  • Route Mobile surges as its parent company, Proximus Global, partners with Nokia to offer network APIs (application programming interfaces) for enterprise application development. They plan to expand APIs to help developers create applications for enterprises, including financial services and healthcare.

  • The United States is reportedly urging India to remove tariffs on car imports as part of a proposed trade deal, paving the way for Tesla. However, India is reluctant to eliminate tariffs immediately, seeking input from local industries. Car import taxes in India can reach as high as 110%, a rate Tesla CEO Elon Musk has called one of the highest in the world.

  • Tata Consultancy Services enters a partnership with Vantage Towers to set up a digital service platform for property owners leasing telecom tower sites.

  • IOL Chemicals & Pharmaceuticals rises sharply as it receives a certificate of suitability from the European Directorate for the Quality of Medicines & Health Care (EDQM) for its active pharmaceutical ingredient (API), Quetiapine Fumarate. This antipsychotic drug is used to treat various mental health disorders.

  • Galaxy Surfactants is rising as it partners with a global customer to provide engineering, procurement and construction services for a performance surfactants and specialty ingredients plant at an overseas location. The company is also in advanced discussions to expand this collaboration after the plant's commissioning.

  • Zydus Lifesciences is rising sharply as it receives final approval from the US FDA to manufacture Dasatinib tablets. These tablets are used to treat adults with newly diagnosed chromosome-positive (Ph+) chronic myeloid leukaemia (CML) in the chronic phase. It had a market value of $1.8 billion in the year ending January 2025, according to IQVIA.

  • Markets opened high. Nifty 50 was trading at 22,432.75 (95.5, 0.4%), BSE Sensex was trading at 74,308.30 (578.1, 0.8%) while the broader Nifty 500 was trading at 20,405.75 (149.3, 0.7%).

  • Market breadth is overwhelmingly positive. Of the 2,022 stocks traded today, 1,850 were in the positive territory and 150 were negative.

Riding High:

Largecap and midcap gainers today include JSW Infrastructure Ltd. (268.55, 6.7%), Jindal Stainless Ltd. (651.90, 6.3%) and Asian Paints Ltd. (2,267.70, 4.8%).

Downers:

Largecap and midcap losers today include Bharti Hexacom Ltd. (1,342.35, -2.8%), Coforge Ltd. (7,625.15, -2.4%) and Tech Mahindra Ltd. (1,503.45, -2.3%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Chennai Petroleum Corporation Ltd. (527.05, 11.8%), Castrol India Ltd. (245.88, 10.6%) and Prism Johnson Ltd. (127.78, 8.3%).

Route Mobile Ltd. (1,034.40, 3.3%) was trading at 29.7 times of weekly average. Sapphire Foods India Ltd. (326.30, 5.2%) and Mangalore Refinery And Petrochemicals Ltd. (113.10, 6.4%) were trading with volumes 9.4 and 7.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

1 stock made 52 week highs, while 1 stock tanked below their 52 week lows.

Stock touching their year highs included - Chambal Fertilisers & Chemicals Ltd. (576.90, 1.0%).

Stock making new 52 weeks lows included - Signatureglobal (India) Ltd. (1,015.05, -2.1%).

26 stocks climbed above their 200 day SMA including Sapphire Foods India Ltd. (326.30, 5.2%) and Godfrey Phillips India Ltd. (5,418.60, 5%). 3 stocks slipped below their 200 SMA including Medplus Health Services Ltd. (704.30, -2.6%) and Anand Rathi Wealth Ltd. (1,854, -2.2%).

 
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The Baseline
06 Mar 2025
By Abdullah Shah

India’s superstar investors are famous for their stock picks and track records over the past decade. So they draw plenty of imitators – an Ashish Kacholia buy, for instance, can significantly move the stock price the next day. In this edition of Chart of the Week, we look at superstar investors’ public portfolio holdings from December 2015 to March 2025 and analyse their preferred sectors and investing strategies. 

Trendlyne's superstar dashboard shows that superstar investors have bet on retailing, software & services, textiles, apparels & accessories, diversified consumer services, and banking & finance. 

Prominent investors like the late Rakesh Jhunjhunwala (whose portfolio is now managed by RARE Enterprises), Vijay Kedia and Radhakishan Damani saw significant changes in their net worth from June 2018 to March 2025. Most superstars and promoters have seen their net worth fall in the Covid lockdown, and more recently, as the Nifty 50 declined by 14.4% over the past six months.

Promoters Ambani, Damani and Premji beat career investors, and boast the highest net worth

Reliance Industries and Jio Financial Services’ promoter, Mukesh Ambani, has the highest net worth of Rs 3.2 lakh crore as of March 2025 (this includes the family’s holdings. His net worth surged to Rs 76,790.2 crore in Q4FY17 after Reliance Industries became the first Indian firm to cross the Rs 6 lakh crore mark in market capitalization during the quarter. 

Ambani’s portfolio consists of only the above two stocks. His net worth jumped by another 115.4% to Rs 2.8 lakh crore after a significant investment in his digital arm, Jio Platforms. He sold a 33% stake to investors like Google and Facebook, which boosted the value of his holdings in 2020.

Radhakishan Damani, the promoter of retail chain DMart, dropped to the sixth richest Indian from the third spot in 2024, according to Forbes’ 100 richest Indians in 2024. This came after his net worth eroded by 28.9% in Q3FY25 after DMart’s stock price plunged 30.1% in the quarter. The superstar holds the third largest public stock portfolio among superstar investors. As of March 2025, this superstar investor’s net worth stood at Rs 1.6 lakh crore. 

In Q3FY16, he ranked 3rd in net worth, but after DMart went public in Q4FY17, his net worth soared to Rs 35,827 crore. During the COVID-19 pandemic in Q4FY20, Damani rose to second in public portfolio net worth, surpassing Premji and Associates and coming behind Mukesh Ambani. 

Damani is primarily a passive investor who has exited just three positions over the past two years: Astra Microwave, India Cements, and Andhra Paper. Additionally, he has reduced his holdings in three companies from Q3FY23 to March 2025: Blue Dart Express in Q1FY25, Avenue Supermarts in Q1FY24, and VST Industries in Q2FY25.

Another promoter who ranks near the top of the list is Premji and Associates, with a net worth of Rs 2.1 lakh crore as of March 2025. His portfolio consists of only one stock after selling stakes in Balrampur Chini Mills and Tube Investments of India. This means this superstar investor’s public portfolio value entirely depends on Wipro’s share price. Premji and Associates holds a 72.7% stake in Wipro as of March 2025. Damani overtook Premji in 2019 due to the muted growth of the Indian IT sector, during which Wipro lost 10% of its share value. 

Superstar investors go on a selling spree in 2024

The late Rakesh Jhunjhunwala, also known as the Big Bull, has a portfolio of 29 stocks, currently managed by Rare Enterprises. His portfolio value jumped 15.6% to Rs 56,915.4 crore in Q3FY25. Preferred sectors include diversified consumer services (30%), textiles, apparels & accessories (24.7%), and banking & finance (13.9%). 

Despite an investment slowdown, Rare added a 24.1% stake in Concord Biotech, a 3.7% stake in Baazar Style Retail and a 49.3% stake in Inventurus Knowledge Solutions since September 2023. 

Rare Enterprises also increased its stake in Geojit Financial Services by 0.2% while reducing stakes in Jhunjhunwala’s top picks, Titan, Jubilant Pharmova, Crisil, Nazara Technologies and Aptech since the start of 2024. Rare reduced stakes across banks like Canara Bank, Federal Bank, and Karur Vysya Bank in the past year. 

Mukul Agarwal’s net worth rose 21.3% over the past year to Rs 6,062.61 crore, helping the portfolio to jump to the second spot behind Rakesh Jhunjhunwala among the superstar investors. Like Jhunjhunwala, Agarwal prefers stocks from the banking & finance (19%), pharmaceuticals & biotechnology (17.8%), and textiles, apparels & accessories (12%) sectors. His portfolio is one of the most diversified among the superstars, with 64 stocks currently active. 

Mukul Agarwal has been an active investor since Q3FY23, when he added 30 stocks to his portfolio. The most notable additions are BSE in Q1FY24, Deepak Fertilizers in Q2FY25, Strides Pharma in Q3FY24, and KRN Heat Exchanger & Refrigeration in Q3FY25. Over the past two years, he has exited his positions from 29 stocks, including Paras Defence, Suzlon Energy, Newgen Software, Delta Corp, Karur Vysya Bank, and Raymond.

Akash Bhansali has a significant investment in the chemicals & petrochemicals (41.6%) sector. He also prefers pharmaceuticals & biotechnology (11.3%) and general industrials (11%) stocks. Bhansali added eight new stocks to his portfolio, including Dilip Buildcon, Genus Power and Natco Pharma, among others, since Q3FY23. He holds substantial stakes in Sudarshan Chemicals (7.9%) and Gujarat Fluorochemicals (4.8%), which serve as the main drivers of his portfolio. He also exited positions in six stocks, like Arvind Fashions, Granules India and Titagarh Rail Systems.

Ashish Kacholia prefers general industrials (22.7%), pharmaceuticals & biotechnology (16%) and diversified consumer services (14%). His portfolio has a majority of small-cap stocks. In December 2024, he added stocks like Texel Industries (7.9%) and Aelea Commodities (3.8%). Kacholia actively manages his investments, regularly adding new stocks, increasing stakes, and exiting positions. In the past year, he entered or exited 33 positions as the smallcap universe grew volatile, including popular ones such as Man Industries, Awfis Space Solutions, and Gravita India.

Sunil Singhania’s Abakkus Fund holds 23 stocks, with a focus on metals & mining (17.4%), general industrials (15.4%) and cement & construction (10.2%). During Q4FY25, Singhania’s portfolio fell by 21.5% due to the downturn in metals stocks. He added a 6.8% stake in Himatsingka Seide and increased his stake in Hindware Home Innovation by 0.1% to 4.6% in Q3FY25. He has reduced his stakes in HIL, IIFL Securities, and Sarda Energy & Minerals. 

Vijay Kedia focuses mainly on the automobiles and auto components sector (23.1%). In comparison, Nemish Shah’s portfolio is dominated by the general industrial sector (59.3%), and Ashish Dhawan favours the banking and finance sector (44.3%). Vijay Kedia’s net worth has fallen 31.1% in the ongoing Q4FY25 after his portfolio stock, Om Infrastructure, posted weak results in Q3FY25. During Q3FY25, Kedia increased his stakes in Precision Camshafts and Global Vectra while reducing his holdings in Elecon Engineering and Tejas Networks. 

 
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The Baseline
06 Mar 2025
Fast growing companies in a muted market | Screener: Stocks with strong PEG and revenue growth

“When men are brought together,” the French mathematician Henri Poincaré wrote, “they no longer decide independently of each other, but react to one another. ”

This behaviour is so common that there are many words for it. Herd mentality. Hive mind. Groupthink. As a result, bull markets last longer than valuations can justify. And downcycles, like the current one, can also be long and painful. The same stocks that were so attractive to investors months ago with expensive valuations, investors don't want to touch when they are cheaper. 

But in addition to macro factors impacting stock markets, investors hate uncertainty. With US President Trump  hitting allies like Canada and Mexico with hard-to-justify tariffs, and promising more tariffs to come for EU, Brazil, Japan, South Korea, and yes, India, stock markets globally have become volatile. 

Trump also seems to be a man of many moods. He will announce tariffs one day, and his advisers will hint the next morning that these tariffs may be removed. Maybe he just likes watching markets switch from green to red and back again.

But as India's macro numbers recover, the recent downcycle in stocks may offer some interesting opportunities for investors looking for bargain buys, and willing to ignore the herd.  

In this week's Analyticks,

Fast growing players: Companies showing resilience in a weak market

Screener: Stocks with a strong PEG ratio and good growth in Q3 revenue and net profit

Let's hunt for some diamonds.

In an uncertain environment, investment options narrow

Some economists believe that uncertainty is the world's new reality.  "The past seven-plus decades of free trade..and relatively peaceful cooperation among nations", Robert Kagan writes, "are a great historical aberration."

The world is now facing tariffs, the rise of populism, and rising conflicts. This makes it more difficult for investors and analysts to predict business growth. Growing exporters may be hit by tariffs that make them less competitive; new sanctions may drive up the price of oil. But there are some companies in the current market that have the wind on their backs.

Electronics manufacturer Dixon Technologies for example, has made headlines and grown steadily, as major consumer electronics companies shift  their manufacturing from China to India. It is projected by analysts to record an EBITDA growth of 59% CAGR during FY25-27.

Dixon is working hard to take advantage of its golden moment, via acquisitions, and in trying to enter display fabrication - a significant backward integration move, since it manufactures TVs, smartphones and laptops. If this initiative gets approved under the Indian Semiconductor Mission 2.0. Dixon would be eligible for a subsidy covering nearly 70% of its Rs. 25,000 crore expected capex. 

We look at similar companies, whose growth outperformance has kept valuations in line. The list includes Nifty players, as well as midcaps and smallcaps across industries that are benefiting from different factors: a growing export niche, government support, new project wins, and so on. 

To find the full list of these companies, you can look at this screener. To identify these players, the screener looks at the TTM PEG ratio, which is a stock's PE ratio divided by its earnings growth rate.

When earnings growth is especially high relative to the company's valuation, the PEG will be less than 1, suggesting that the stock may be undervalued relative to its growth. A PEG ratio between 0 and 1 is the sweet spot for stocks. The screener also looks at momentum score, year change and revenue growth.

We discuss some frontrunners below. 

Top growing companies are in finance, fertilizers, pharmaceuticals

Among the 137 companies identified, the fastest growing are in a range of industries, with some of the top ones in finance, pharma, fertilizers, engineering and electronics. 

Finance is a wide ranging sector, and the firms that turn up in this list include banks, NBFCs, and holding companies.  Kotak Mahindra Bank's reasonably strong Q3 performance compared to its peers, has had analysts turn positive on it. Its healthy PEG ratio and its steady net interest margin has made Kotak an attractive bank play for analysts.

Bajaj Holdings' underlying companies Bajaj Finance and Bajaj Auto have delivered growth in recent quarters in a muted market, although domestic sales for the latter have slowed. Exports for Bajaj Auto however, have been surging, and overtook its domestic sales in February. 

Sarda Energy is one of the less familiar names in the list, but it has been a steady outperformer recently, with a growth of 120% in share price over the year.

The company has been investing in expanding its coal mining capacity: it's growing fast in a "dirty" energy industry. It has recently won key clearances such as for the Shahpur West Coal Mine, and is expanding into both power plant and solar energy projects. 

Avanti Feeds is another player that looks positioned for growth. It hit a five year high today, as I was writing about the stock. Sitharaman's announcement in the Budget to boost the fisheries sector has put wind in its sails.

Rising shrimp demand from both the US and China also has analysts predicting a strong year for the shrimp industry. 

GlaxoSmithKline's stellar Q3FY25 performance triggered a surge in investor interest. Profit jumped 5X, and management sounded bullish on continued growth. The company is benefiting from its presence in high growth domestic pharma markets - pediatric and adult vaccines, as well as respiratory treatments. Both these segments are growing sharply as GSK has focused on expanding patient access here. 

These players, and Dixon Tech, which we discussed earlier, have held on to their momentum (momentum scores all above 50). Expect for Dixon, which has aggressive growth forecasts, these are at reasonable PE levels. 

You know that disclaimer one hears at the end of every MF ad, said at 1.5X speed: 'investments are subject to market risks'? Market upheavals are unavoidable. In the Trumpian era, they may even be more frequent. 

But even with volatility, a  quieter market is a great time to look at stocks that seemed too pricey during the bull run. While we have picked out six stocks to analyze, the screener has many interesting names.

Screener: Stocks with a strong PEG ratio and good growth in Q3 revenue, profit

Banking & finance stocks have the highest month change and good PEG TTM

In this section, we look for growth stocks from a slightly different angle. We analyze the PEG ratio (trailing twelve months price/earnings (P/E) to growth ratio). We also see how the stocks did in the most recent quarter results, in Q3FY25. This screener identifies such stocks, with a TTM PEG ratio between 0 and 1 and good YoY growth in Q3FY25 revenue and net profit. 

The screener is dominated by stocks from the banking & finance, general industrials, pharmaceuticals & biotechnology, realty, and automobile & auto components sectors. Notable stocks in the screener are GlaxoSmithKline Pharmaceuticals, Shriram Finance, Hindalco Industries, Chambal Fertilisers, Cholamandalam Finance, Hitachi Energy India, Union Bank of India, and Go Digit General Insurance. 

GlaxoSmithKline Pharmaceuticals shows up in the screener with a TTM PEG ratio of 0.8. This pharmacauticals company also rose 34.3% over the past month. Its net profit and revenue surged by 402.8% YoY and 17.9% YoY, respectively, in Q3FY25, helping to lower its TTM PEG. The company’s revenue increased on the back of volume growth of 11% YoY and a price hike of 3% in the general medicine segment, and a 14% YoY increase in its vaccine portfolio.

Hindalco Industries has a good TTM PEG of 0.2. This aluminium & aluminium products company’s stock price jumped 11.8% over the past month. The company’s net profit and revenue increased by 60.2% YoY and 10.6% YoY in Q3FY25, helping to lower its TTM PEG. An improvement in sales volumes and margins from the upstream (mining and refining) and downstream aluminium (final products) and copper segments drove the company’s net profit and revenue growth.

You can find more screeners here.

 
Trendlyne Marketwatch
Trendlyne Marketwatch
05 Mar 2025
Market closes higher, Biocon's arm gets US FDA nod for lenalidomide and dasatinib tablets
By Trendlyne Analysis

Nifty 50 closed at 22,337.30 (254.7, 1.2%), BSE Sensex closed at 73,730.23 (740.3, 1.0%) while the broader Nifty 500 closed at 20,256.50 (338.7, 1.7%). Market breadth is overwhelmingly positive. Of the 2,457 stocks traded today, 2,095 were on the uptick, and 331 were down.

Indian indices closed higher with the Nifty 50 closing at 22,332.7, driven by a strengthening rupee against the US dollar, a drop in US treasury yields, and fear of higher inflation in the US. The Indian volatility index, Nifty VIX, rose 1.2% and closed at 13.7 points. Oil & Natural Gas Corp closed 1.3% higher as its subsidiary, ONGC Green, acquires PTC Energy from PTC India for a total consideration of Rs 925 crore as part of its plans to achieve a 10 GW renewable energy portfolio for ONGC by 2030.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, tracking the benchmark index. S&P BSE Utilities and Nifty Metal were among the highest-performing indices of the day. According to Trendlyne’s sector dashboard, Utilities emerged as the best-performing sector of the day, with a fall of 4.2%.

European indices are trading in the green. Major Asian indices closed higher, except Australia’s ASX 200 index, which closed 0.7% lower. US index futures are trading higher after President Donald Trump’s cabinet member hinted at a possible reduction of tariffs on Canada and Mexico.

  • Money flow index (MFI) indicates that stocks like Oracle Financial Services, Bajaj Auto, MRF, and Tata Communications are in the oversold zone.

  • Biocon is rising as its subsidiary, Biocon Pharma, receives approval from the US FDA for lenalidomide capsules and dasatinib tablets. The former is used for different types of lymphoma, while the latter is used to treat leukaemia in adults.

  • NAVA surges as its Rs 360 crore buyback of 72 lakh equity shares at Rs 500 per share opens on March 6 and closes on March 12.

  • Adani Enterprises rises sharply as 84.5 lakh shares, worth Rs 1,832 crore, reportedly change hands in a block deal at an average price of Rs 2,168.1 per share.

  • According to an SBI report, RBI may need to cut the cash reserve ratio (CRR) to ease liquidity pressures in the banking sector. The report notes that with unchanged government securities (G-secs) holdings in FY26, the open market operations (OMO) gap will likely remain around Rs 1.7 trillion, indicating a need for ongoing liquidity measures.

  • Spicejet rises sharply as Plutus Wealth Management LLP acquires 90 lakh shares via a bulk deal at an average price of Rs 46 per share.

  • BNP Geojit Paribas downgrades Coal India to a 'Hold' call from 'Buy' with a lower target price of Rs 393 per share. This indicates a potential upside of 7.7%. The brokerage believes the company's efforts to expand operations, including exploring coal gasification projects and renewable energy, are expected to drive growth. It expects the firm's revenue to grow at a CAGR of 6% over FY25-27.

  • Angel One surges as its board of directors appoints Ambarish Kenghe as its Group Chief Executive Officer (CEO), effective March 5.

  • UBS upgrades Mahindra & Mahindra to a 'Buy' rating with a lower target price of Rs 3,300. The brokerage believes the 19% drop in M&M's share price over the past month, driven by EV-related news and Tesla's potential entry into the Indian market, is an "overreaction." It expects M&M's volumes to grow by 9% in FY26, fueled by strong demand for its SUVs and the launch of its electric vehicles. The SUV segment is also likely to see high-single-digit volume growth.

  • Power Grid Corp rises sharply as it secures three inter-state power transmission projects under a tariff-based competitive bidding process. The projects will be developed under the build, own, operate, and transfer (BOOT) model, expanding transmission capacity across Rajasthan, Madhya Pradesh, Gujarat, Andhra Pradesh, and Karnataka.

  • Oil & Natural Gas Corp is rising as its subsidiary, ONGC Green, acquires PTC Energy from PTC India for a total consideration of Rs 925 crore as part of its plans to achieve a 10 GW renewable energy portfolio for ONGC by 2030. The acquisition will give ONGC access to PTC's operational wind generation capacity of 288.8 MW, located in Andhra Pradesh, Madhya Pradesh, and Karnataka.

  • KEC International is rising as it receives an income tax refund of Rs 177 crore from the Income Tax Department.

  • Indian oil companies like BPCL and HPCL are rising as OPEC+ decides to gradually roll back the 2.2mbpd voluntary production cut, which has been in place since November 2023. The rollback will begin in April 2025 and continue through September-December 2026. As a result, Brent oil futures hit the $70 per barrel mark. Emkay Global sees Brent prices falling to $60 per barrel but believes the $70-75 per barrel range is more likely than $75-80 earlier.

  • Star Cement is rising as it emerges as the preferred bidder for the North Boro Hundong Limestone Block (Part-A) at an e-auction held by the Assam Government. The block has an area of 200 hectares and an estimated limestone resource of 192.4 million tonnes.

  • JSW Energy rises sharply as it secures approval from the Competition Commission of India (CCI) to acquire KSK Mahanadi Power for nearly Rs 16,000 crore. This acquisition will enhance the company's generation capacity and strengthen its push toward renewable energy expansion.

  • Adani Wilmar is rising as it signs an agreement to acquire GD Foods Manufacturing (India), the owner of the Tops brand. The acquisition will occur in multiple tranches, with 80% of shares acquired in the first tranche and the remaining 20% over the next three years. This expands Adani Wilmar’s food portfolio to meet Indian kitchen needs.

  • India's Services PMI increases to 59 in February, up from 56.5 in January, staying well above the 50-mark. The increase signals strong demand, with faster growth in new business and output driven by robust international demand.

  • Apollo Hospitals Enterprise plans to invest Rs 250 crore in a comprehensive oncology centre in Hyderabad. The facility is expected to be operational by FY28 and expand proton therapy capacity, enabling treatment for 350 more patients annually.

  • Welspun Specialty Solutions rises sharply as it emerges as the lowest bidder for a Rs 231.8 crore order from Bharat Heavy Electricals. The order involves the supply of 4,050 tonnes of stainless steel seamless boiler tubes for a series of super critical thermal power projects.

  • Force Motors is rising as its wholesales grow 46.3% YoY to 3,600 units in February, driven by a 48.8% YoY increase in domestic wholesales. However, exports decline 16.8% YoY to 79 units.

  • Ola Electric misses the deadline to begin commercial cell manufacturing at its Tamil Nadu Gigafactory, initially expected by Q1FY26. The Industrial Finance Corporation of India (IFCI) issues a letter citing "Non-achievement of Milestone -1" under the PLI scheme.

  • Ambuja Cements is rising as it receives approval from the Competition Commission of India (CCI) to acquire a 72.8% stake in Orient Cement.

  • GE Vernova T&D India is rising as it secures three orders worth approximately Rs 500 crore from Power Grid Corp of India to supply and install 765 kV class transformers and reactors of various capacities under a bulk procurement deal.

  • Coforge surges 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. The company also bags a 13-year contract worth $ 1.6 billion (~ Rs 13,936 crore) from Sabre Corp to accelerate product delivery and launch additional AI-enabled solutions.

  • Rail Vikas Nigam is rising as it receives a letter of acceptance (LoA) worth Rs 729.8 crore from Himachal Pradesh State Electricity Board (HPSEBL) to develop distribution infrastructure in Himachal Pradesh’s Central Zone under the Revamped Distribution Sector Scheme.

  • Nifty 50 was trading at 22,133.55 (50.9, 0.2%) , BSE Sensex was trading at 73,139.91 (150.0, 0.2%) while the broader Nifty 500 was trading at 20,008.90 (91.1, 0.5%)

  • Market breadth is highly positive. Of the 1,989 stocks traded today, 1,625 were gainers and 315 were losers.

Riding High:

Largecap and midcap gainers today include Adani Green Energy Ltd. (848.70, 10.4%), Adani Energy Solutions Ltd. (709.45, 9.7%) and Coforge Ltd. (7,814.20, 8.3%).

Downers:

Largecap and midcap losers today include Bajaj Finance Ltd. (8,298.70, -3.4%), IndusInd Bank Ltd. (971.85, -1.6%) and Voltas Ltd. (1,387.80, -1.5%).

Volume Rockets

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

Top high volume gainers on BSE included IIFL Finance Ltd. (313.70, 10.6%), Adani Energy Solutions Ltd. (709.45, 9.7%) and Coforge Ltd. (7,814.20, 8.3%).

Top high volume losers on BSE were UTI Asset Management Company Ltd. (930.55, -1.6%) and KNR Constructions Ltd. (219.83, -0.1%).

Timken India Ltd. (2,604, 3.7%) was trading at 5.3 times of weekly average. JK Cement Ltd. (4,464.10, 1.3%) and Ceat Ltd. (2,583, 7.7%) were trading with volumes 4.6 and 4.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

1 stock overperformed with 52 week highs, while 8 stocks hit their 52 week lows.

Stock touching their year highs included - Abbott India Ltd. (31,448.10, -0.3%).

Stocks making new 52 weeks lows included - Asian Paints Ltd. (2,164.15, 1.5%) and Bajaj Auto Ltd. (7,420.30, 1.2%).

16 stocks climbed above their 200 day SMA including Hitachi Energy India Ltd. (13,191.10, 8.2%) and Deepak Fertilisers & Petrochemicals Corporation Ltd. (1,047.40, 7.3%). 5 stocks slipped below their 200 SMA including Anand Rathi Wealth Ltd. (1,895.70, -6.5%) and Medplus Health Services Ltd. (723, -0.4%).

 
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The Baseline created a screener Fast growing companies with …
05 Mar 2025
 
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The Baseline
04 Mar 2025
Five stocks to buy from analysts this week - March 04, 2025
By Divyansh Pokharna

1. SRF:

Emkay reiterates its ‘Buy’ rating on this specialty chemicals firm with a target price of Rs 3,250. This indicates a potential upside of 13.9%. SRF is experiencing strong demand and higher prices for refrigerant gases in India. Globally, prices of R32 and R22, commonly used in air conditioning and cooling, are rising due to higher refrigerant gas prices in China and a shift to eco-friendly alternatives with lower global warming impact. Analysts Meet Vora and Meet Gada expect prices to remain stable through this season and into 2025. 

Vora and Gada noted the company’s efforts to reduce costs for key products while keeping profit margins steady (EBITDA margin at 19.7% in FY24). SRF’s new active ingredients (AIs) are expected to start making a significant impact from FY26 and reach full production by FY28. The total market for manufacturing these AIs is estimated at around $1-1.5 billion, with SRF aiming to capture a 35-40% share.

The analysts project SRF’s revenue to grow at a CAGR of 17.6% and net profit at 52% over FY25-27. This growth is expected to be driven by increasing contributions from new products, and rising refrigerant gas prices globally.

2. Godrej Properties:

Hem Securities initiates a ‘Buy’ rating on this Mumbai-based realty company with a target price of Rs 2,405. This indicates a potential upside of 19.8%. The company’s revenue grew 126% YoY to Rs 1,240 crore in Q3FY25, driven by the delivery of 2.6 million square feet (msf) of projects.

Analyst Deepanshu Jain highlights that the company has achieved 71% of its Rs 27,000 crore FY25 booking value target. Godrej Properties has surpassed its business development guidance of Rs 20,000 crore, adding 16.9 msf of saleable area with a potential booking value of Rs 23,450 crore. 

Management remains confident in achieving its Rs 30,000 crore launch target, supported by Rs 7,000 crore in Q4 launches across Hyderabad, Noida, Gurugram, Mumbai, Pune, and Indore. The company also raised Rs 6,000 crore through a qualified institutional placement (QIP) to expand its project pipeline.

Jain is optimistic about the company, citing its CY24 pre-sales of Rs 2.9 lakh crore as the highest among peers. With better cash flow, a strong land bank, and high demand, he expects sales to grow at 39.8% CAGR and net profit at 31.4% over FY25-26.

3. AU Small Finance Bank:

ICICI Securities upgrades its rating to ‘Buy’ on this bank with a target price of Rs 725, indicating a potential upside of 32.2%. AU Small Finance Bank (AU SFB) merged with Fincare Small Finance Bank in April 2024. Following the merger, AU SFB’s profitability was affected by higher-than-expected loan defaults in its credit card (CC) and microfinance (MFI) portfolios, leading to increased credit costs. For 9MFY25, credit costs stood at 5.4% in the MFI segment and 9.2% in the CC segment. 

AU SFB’s return on assets (RoA) fell to 1.5% in Q3, reflecting a continued pressure on profitability. Analysts Renish Bhuva and Chintan Shah expect RoA to gradually improve to ~1.8% by FY27, driven mainly by a reduction in credit costs, which are projected to normalize to 3% in the MFI segment and 6–7% in the credit card segment.

Bhuva and Shah are optimistic about the RBI’s 25 bps rate cut to 6.25%, believing that the bank is well-positioned to benefit the most in the current falling rate cycle. They point out that during the last rate-cut cycle, the repo rate dropped from 6.5% in December 2018 to 4% in May 2020. Within a year of the cut, AU SFB’s margins expanded by 100–120 bps.

The bank’s management has raised its net interest margin (NIM) estimate to 6% for FY25, up from its earlier guidance of 5.8% in H1 FY25, while analysts expect it to be slightly higher at 6.2%.

4. Krishna Institute of Medical Sciences:

Geojit BNP Paribas upgrades its rating to ‘Buy’ on this hospitals company with a target price of Rs 622, indicating an upside of 21.3%. In Q3FY25, the company’s revenue grew 27.5% YoY to Rs 772 crore, while average revenue per operating bed (ARPOB) increased by 25.2%. However, occupancy declined to 50.7% from 61.6% in Q3 FY24, mainly due to lower occupancy at its Telangana facilities. 

Krishna Institute of Medical Sciences (KIMS) recently signed an agreement with Valiyath Institute of Medical Sciences (VIMS) in Kerala’s Kollam district to manage its 300-bed facility. It also plans to expand capacity over the next two years, including in Telangana and Andhra Pradesh. The company has allocated Rs 500-600 crore for expansion in the coming year.

The analysts highlight that with new units set to contribute, KIMS is well-positioned to achieve its FY25 revenue growth target of 24% and continue expanding beyond that. They project revenue and profit CAGR of 28% and 32%, respectively, over FY25-27.

5. Healthcare Global Enterprises:

Axis Direct maintains a ‘Buy’ rating on this cancer care hospitals company with a target price of Rs 575, indicating an upside potential of 12.1%. In Q3FY25, revenue rose 18.9% YoY to Rs 1,058.7 crore, driven by a 3.5% YoY increase in average revenue per occupied bed (ARPOB) and 16% growth in occupied days. 

Analysts Ankush Mahajan and Aman Goyal note that during the quarter, the company acquired MG Hospital in Vizag, which contributed Rs 25 crore in revenue with EBITDA margins of 24%. The company’s digital business grew by 14% YoY, generating Rs 76 crore in revenue. Meanwhile, KKR, an American private-equity and investment firm, acquired a majority stake 54% in Healthcare Global for approximately Rs 3,350 crore, taking full control from CVC Asia.

Mahajan and Goyal stated that the company operates in the cancer treatment industry, which is expanding at 17% CAGR. To capitalize on the emerging opportunities the company plans to add 900 beds over the next 4-5 years. Management expects EBITDA margins to expand by 100-150 bps in FY26. The analysts also anticipate a 1,000 bps increase in return on invested capital (RoIC) over the next three years.

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

(You can find all analyst picks here)