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Trendlyne Marketwatch
Trendlyne Marketwatch
11 Jun 2025, 10:42AM
Market opens flat, Inox Wind receives NCLT approval to merge with Inox Wind Energy
By Trendlyne Analysis

Nifty 50 opens flat after gaining over 5 points in the pre-opening. On Tuesday, Indian indices closed flat after switching between losses and gains throughout the day. FIIs bought shares worth Rs 2,301.9 crore, while DIIs invested Rs 1,113.3 crore in Indian equities on the same day.

Nifty Smallcap 100 & Nifty Midcap 100 open in the green. BSE IT Sector and S&P BSE Utilities open higher. 

Major US indices closed higher on Tuesday. European indices closed in green, except for Russia’s MOEX index. Asian indices are trading mixed. The US and China reported progress on the second day of their London trade talks. US Commerce Secretary Howard Lutnick confirmed a framework has been established for implementing the Geneva trade consensus.

  • Aditya Birla Capital is rising as 2.3 crore shares (0.9% stake) worth approximately Rs 568 crore reportedly change hands in a block deal at an average price of Rs 242.7 per share. Private equity firm Advent International is likely the seller in the transaction.

  • Talbros Automotive is rising as it receives Rs 580 crore in domestic and export orders to supply gaskets, heat shield products, and forging components to original equipment manufacturers (OEMs).

  • Marksans Pharma rises as around 1 crore shares (2.3% stake), worth Rs 257 crore, reportedly change hands in a block deal at an average price of Rs 250 per share. OrbiMed Asia IV Mauritius FVCI is likely the seller in the transaction.

  • Kolte-Patil Developers rises sharply as the Competition Commission of India (CCI) approves Blackrock's acquisition of a 40% stake worth Rs 1,166 crore in the company.

  • Inox Wind receives approval from the National Company Law Tribunal (NCLT) to merge Inox Wind Energy with itself.

  • Nifty 50 was trading at 25,124.45 (20.2, 0.1%), BSE Sensex was trading at 82,473.02 (81.3, 0.1%) while the broader Nifty 500 was trading at 23,379.90 (40.0, 0.2%).

  • Market breadth is overwhelmingly positive. Of the 2,001 stocks traded today, 1,474 were on the uptick, and 467 were down.

Riding High:

Largecap and midcap gainers today include Oil India Ltd. (453.40, 3.7%), Sona BLW Precision Forgings Ltd. (528, 2.2%) and Aditya Birla Capital Ltd. (247.80, 2.1%).

Downers:

Largecap and midcap losers today include United Spirits Ltd. (1,520.80, -5.5%), Tata Communications Ltd. (1,707, -1.6%) and Indian Overseas Bank (39.85, -1.2%).

BSE 500: highs, lows and moving averages

5 stocks took off, crossing 52 week highs,

Stocks touching their year highs included - Laurus Labs Ltd. (672.65, 0.9%), Aditya Birla Capital Ltd. (247.80, 2.1%) and Eris Lifesciences Ltd. (1,706.90, 0.9%).

12 stocks climbed above their 200 day SMA including DCM Shriram Ltd. (1,115.70, 1.9%) and Trident Ltd. (31.83, 1.5%). 2 stocks slipped below their 200 SMA including Tata Communications Ltd. (1,707, -1.6%) and Sapphire Foods India Ltd. (321.10, 0.6%).

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The Baseline
10 Jun 2025, 05:15PM
Five stocks to buy from analysts this week - June 10, 2025
By Divyansh Pokharna

1. PNC Infratech:

Axis Direct reiterates its ‘Buy’ rating on this roads & highways developer with a target price of Rs 340, a 7.9% upside. The company’s executable order book stands at Rs 17,792 crore, over 3.2 times its FY25 revenue, providing revenue visibility for the next 2 to 2.5 years. About 63% of the order book comes from highway and expressway projects, while the remaining 37% is from railways, water, and other segments.

Analysts Uttam Srimal and Shikha Doshi note that the company is diversifying beyond roads. It is actively bidding for railway and water projects, to build a more stable revenue base.

The company’s management expects an order inflow of Rs 15,000 crore in FY26. This is supported by a strong bid pipeline of Rs 40,000 crore in non-Ministry of Road Transport and Highways (MoRTH) projects and about Rs 60,000 crore from NHAI and MoRTH projects. 

In FY25, PNC Infratech’s revenue fell 28.4% to Rs 5,513 crore due to slow project execution and delays in awarding new contracts. Net profit declined 17.9% to Rs 706 crore but beat Forecaster estimates by 5.8%. For FY26, the management expects revenue to grow by 20%, but Srimal and Doshi are more optimistic, projecting a higher growth of 43.8%.

2. KPR Mill:

Sharekhan maintains a ‘Buy’ rating on this textiles company with a target price of Rs 1,287, a 14.6% upside. In Q4FY25, the company’s revenue grew 4% YoY, but profit after tax fell 4% due to a 94 bps drop in EBITDA margin and a higher tax rate. Margins were hit mainly by the sugar business, where profitability declined from higher sugarcane prices.

In FY25, its revenue rose 5.4% to Rs 6,388 crore, and net profit increased 1.2% to Rs 815 crore. However, both numbers were slightly below Forecaster estimates. Sales volumes increased by more than 6% across all segments in FY25, including garments, yarn & fabrics, and sugar.

Analysts are bullish about the company’s strong exposure to Europe, which contributed 58% of its revenue in FY25. They say, “ KPR will likely benefit from the recently concluded FTA between India and the UK. Removing tariffs will make its exports more competitive than those from Bangladesh and Vietnam.” 

Analysts also highlight that increasing opportunities in the US provide scope for consistent growth in the high-margin garment segment, which makes up around 40% of the company’s total revenue. They estimate revenue and net profit to grow by 13% and 26%, respectively, over FY26–27.

3. Shriram Finance:

Motilal Oswal maintains a ‘Buy’ rating on this NBFC with a target price of Rs 800, a 14.2% upside. The company reported strong growth in assets under management (AUM) in Q4FY25. However, margins were under pressure due to surplus liquidity on Shriram Finance’s balance sheet. This excess liquidity, around Rs 31,000 crore as of March 2025, was largely due to external commercial borrowings (ECBs) raised between December 2024 and March 2025.

Analysts Abhijit Tibrewal, Nitin Aggarwal and Raghav Khemani expect margins to improve as excess liquidity normalises and interest rates decline. The 100 bps repo rate cut in CY25 so far and the possibility of further cuts should make borrowing cheaper. Around 30% of the company’s borrowings are due for repayment in FY26 and are likely to be refinanced at lower rates, reducing its overall cost of debt. As a result, the analysts expect the company’s net interest margins (NIMs) to improve to 8.4% in FY26 and 8.6% in FY27, compared to around 8.2% in FY25.

Tibrewal, Aggarwal, and Khemani also mention that the company is yet to fully leverage its expanded distribution network. They expect it to show more results over the next 12–18 months, helping improve its performance further.

4. FSN E-Commerce Ventures (Nykaa):

Geojit BNP Paribas reiterates its ‘Buy’ rating on this internet retail company with a target price of Rs 229, a 14.9% upside. In Q4FY25, the company’s revenue rose 23.6% YoY to Rs 2,062 crore, driven by sales of premium products, international brands, and a higher retail footprint. Net profit grew 110% to Rs 19 crore, supported by lower expenses and higher other income.

Analyst Arun Kailasan notes that Nykaa delivered strong Q4 results with consistent sales growth across its beauty and fashion segments. He expects the company to see significant growth in its beauty segment in the near term from new international brands, the opening of more retail stores, and a broader product range.

FY25 revenue grew 24.5% and net profit rose 81.4%, driven by retail store expansion and higher B2B sales. However, Nykaa’s fashion segment faced muted demand and margin pressure. Analysts expect the fashion segment to improve in FY26 due to better inventory management and a shift toward premium products. They also mention that the focus on acquiring customers efficiently and improving operational scale will improve profits and growth.

5. Indian Bank:

Emkay reiterates its ‘Buy’ rating on this bank with a target price of Rs 675, a 7.3% upside. In FY25, the bank’s net NPA ratio improved by 20bps to 0.2%, supported by lower slippages and better recoveries. Analysts Anand Dama, Nikhil Vaishnav, and Kunaal N note that the bank’s NPA is the lowest among its peers, who include HDFC Bank and ICICI Bank. They expect lower asset quality risk as a result.

The company’s management expects moderate credit growth of 10-12% and deposit growth of 8-10% in FY26. They plan to increase exposure to mid-corporate and SME loans for higher yields and to attract more current account (CA) deposits. For FY26, analysts anticipate a further decline in NPAs and lower provisioning requirements, supported by expected loan recoveries between Rs 550-600 crore.

For FY25, the bank’s net profit rose 33.7% to Rs 11,261.4 crore, while revenue grew 12.1%, driven by higher interest income and lower provisions. Dama and the team expect the bank to deliver a return on assets (RoA) of 1.1-1.3% over FY26-28, supported by strong asset quality, lower credit costs, and expected loan recoveries.

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

(You can find all analyst picks here)

Trendlyne Marketwatch
Trendlyne Marketwatch
10 Jun 2025, 03:54PM
Market closes flat, DoT advises state governments to use BSNL and MTNL services
By Trendlyne Analysis

Nifty 50 closed at 25,104.25 (1.1, 0%), BSE Sensex closed at 82,391.72 (-53.5, -0.1%) while the broader Nifty 500 closed at 23,339.95 (9.4, 0.0%). Market breadth is in the green. Of the 2,455 stocks traded today, 1,303 were on the uptick, and 1,112 were down.

Indian indices closed flat after switching between losses and gains throughout the day. The Indian volatility index, Nifty VIX, fell 4.6% and closed at 14 points. ITD Cementation surged 6.7% to its all-time high of Rs 830 after securing an Rs 893 crore order for berth and breakwater construction in Odisha.

Nifty Smallcap 100 and Nifty Midcap 100 closed flat, following the benchmark index. Nifty IT and Nifty India Defence Indices were among the top index gainers today. According to Trendlyne’s sector dashboard, Hardware Technology & Equipment emerged as the top-performing sector of the day, with a rise of 2.8%.

Asian indices closed mixed. European indices are trading mixed. US index futures are trading flat or higher as investors await details from the second day of US-China trade talks in London, hoping for eased tensions. Brent crude futures are trading higher after rising 0.8% on Monday.

  • Money flow index (MFI) indicates that stocks like AstraZeneca Pharma, Concord Biotech, Schneider Electric, and Cummins India are in the overbought zone.

  • TIL rises sharply as it forms a strategic business unit (SBU), TIL Defence, to consolidate its defence portfolio and accelerate indigenous production of military systems.

  • MTNL is rising as the Department of Telecommunications advises state governments to use state-run BSNL and MTNL services, citing data security as a key reason for the preference.

  • Morgan Stanley maintains its 'Overweight' call on UltraTech Cement with a target price of Rs 14,000 per share. The brokerage expects the company to gain market share in capacity and volume, driven by its pan-India presence and increasing number of retail outlets. It expects volumes to grow at a CAGR of 10% by FY28.

  • Kent RO Systems, Karamtara Engineering, Vidya Wires, and Mangal Electrical Wires receive SEBI approval to launch their initial public offerings (IPOs). These firms, which submitted their draft papers in January, are collectively looking to raise around Rs 2,500 crore through their public issues.

  • Schloss Bangalore is falling as its subsidiary, Tulsi Palace Resort, gets a show cause notice from the Central Goods and Service Tax (CGST) Audit Commissionerate, Jaipur.

  • Zydus Lifesciences receives an establishment inspection report (EIR) with a voluntary action indicated (VAI) status from the US FDA for its API plant in Dabhasa, Vadodara.

  • Avenue Supermarts falls as 16 lakh shares (0.2% stake), worth Rs 634 crore, reportedly change hands in a block deal at an average price of Rs 4,000 per share.

  • D Arul Selvan, President and CFO of Cholamandalam Investment & Finance, projects an AUM growth of 20–25% for FY26. He expects margins to improve by 10–15 bps following RBI’s recent rate cut, while credit costs will likely ease to around 1.3–1.35%. He adds that the company remains cautious after the rate cut and does not plan to scale up operations immediately.

  • Confidence Petroleum India is rising as it commissions five new compressed natural gas (CNG) stations in Bangalore. This move helps the company to set up 50 stations in the city, with a target of reaching 100 stations.

  • United Spirits is rising as parent company Diageo reportedly plans to sell its stake in IPL team Royal Challengers Bengaluru, seeking a valuation of up to $2 billion for the franchise.

  • Mahindra & Mahindra increases its stake in M&M Financial Services (MMFSL) by investing around Rs 1,652 crore through a rights issue. It receives 8.5 crore shares at Rs 194 each, raising its holding from 52.2% to 52.5%.

  • According to data released by the Association of Mutual Funds in India (AMFI), mutual funds' net inflows decline to Rs 29,108 crore in May, compared to Rs 2,76,827 crore in April. Meanwhile, monthly equity inflows decrease MoM to Rs 19,013 crore in May from Rs 24,269 crore.

  • Grasim Industries rises sharply as Morgan Stanley upgrades it to an 'Overweight' rating from 'Equalweight', with a higher target price of Rs 3,500 per share. This indicates a potential upside of 29%. The brokerage is positive on the stock, led by a better-than-expected performance in the newly launched paints business.

  • Jana Small Finance Bank is rising as it submits an application to the Reserve Bank of India, seeking approval to voluntarily transition into a Universal Bank.

  • Morgan Stanley cuts the target price on Asian Paints to Rs 1,909. The brokerage notes that India’s paint industry is moving from steady double-digit growth to intense competition. It highlights that Asian Paints lost 424 bps of market share in FY25 and expects the company to lose another 209 bps over FY26-28 in the overall decorative paints segment.

  • Defence stocks are rising following reports that the Indian Army plans to acquire indigenous Quick Reaction Surface-to-Air Missile (QRSAM) systems worth Rs 30,000 crore. The Defence Ministry is expected to approve the purchase of three QRSAM regiments developed by DRDO for deployment along the borders.

  • Nibe surges in trade as it signs a licensing agreement with the Defence Research and Development Organisation (DRDO) to manufacture and sell modular bridging systems ranging from 14m to 46m.

  • Capri Global Capital's board of directors approves raising funds worth up to Rs 2,000 crore through a qualified institutional placement (QIP) of equity shares at a floor price of Rs 153.9.

  • Protean eGov Technologies is rising as it receives an order worth Rs 100 crore from Bima Sugam India Federation (BSIF) to build and manage the Bima Sugam digital insurance platform. The work includes design, development, support, and integration.

  • Crude oil prices increase by 7% over the past week, supported by renewed optimism around US-China trade talks and strong summer travel demand in the US and Canada. A Reuters survey suggests that the OPEC oil output increased in May, though the rise remained modest as Iraq produced below the target to offset earlier overproduction, while Saudi Arabia and the United Arab Emirates made smaller increases than permitted.

  • Premier Energies is rising as 2.5 crore shares (5.5% stake) worth approximately Rs 2,629 crore reportedly change hands in a block deal at an average price of Rs 1,052 per share. South Asia Growth Fund II is likely the seller in the transaction.

  • Jindal Saw rises sharply as it plans to set up a 3 lakh tonnes per annum (TPA) seamless pipe manufacturing facility in the UAE over the next three years, with an investment of $105 million (~ Rs 898.5 crore).

  • AstraZeneca Pharma India is falling as its Managing Director (MD), Sanjeev Kumar Panchal, tenders his resignation, effective June 30. The board appoints Praveen Rao Akkinepally as the new MD.

  • ITD Cementation surges to its all-time high of Rs 830 as it bags an order worth Rs 893 crore to construct berth & breakwater for the development of greenfield captive jetties in Odisha.

  • Nifty 50 was trading at 25,127.10 (23.9, 0.1%), BSE Sensex was trading at 82,643.73 (198.5, 0.2%) while the broader Nifty 500 was trading at 23,372.55 (42, 0.2%).

  • Market breadth is highly positive. Of the 2,015 stocks traded today, 1,551 were on the uptrend, and 414 went down.

Riding High:

Largecap and midcap gainers today include Adani Power Ltd. (596.05, 5.9%), AWL Agri Business Ltd. (278.05, 3.8%) and Grasim Industries Ltd. (2,708, 3.8%).

Downers:

Largecap and midcap losers today include Indian Bank (628.75, -3.5%), Coromandel International Ltd. (2,330.50, -3.4%) and Macrotech Developers Ltd. (1,467.40, -2.9%).

Movers and Shakers

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

Top high volume gainers on BSE included Prism Johnson Ltd. (151.07, 8.5%), Jindal Saw Ltd. (247.99, 7.0%) and Alok Industries Ltd. (20.86, 6.8%).

Top high volume losers on BSE were Avenue Supermarts Ltd. (4,080, -2.4%) and Vinati Organics Ltd. (1,867.20, -0.9%).

Adani Power Ltd. (596.05, 5.9%) was trading at 9.5 times of weekly average. Sun TV Network Ltd. (627.05, 0.2%) and Affle 3I Ltd. (1939, 3.8%) were trading with volumes 8.0 and 6.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

22 stocks took off, crossing 52 week highs,

Stocks touching their year highs included - Bank of India (126.28, -2.3%), Bharat Electronics Ltd. (397.40, 1.3%) and City Union Bank Ltd. (206.27, 0.8%).

33 stocks climbed above their 200 day SMA including Alok Industries Ltd. (20.86, 6.8%) and Adani Power Ltd. (596.05, 5.9%). 10 stocks slipped below their 200 SMA including Avenue Supermarts Ltd. (4,080, -2.4%) and Sapphire Foods India Ltd. (319.10, -2.3%).

Trendlyne Marketwatch
Trendlyne Marketwatch
09 Jun 2025, 03:54PM
Market closes higher, Bank of Baroda cuts lending rate by 50 bps to 8.15%
By Trendlyne Analysis

Nifty 50 closed at 25,103.20 (100.2, 0.4%), BSE Sensex closed at 82,445.21 (256.2, 0.3%) while the broader Nifty 500 closed at 23,330.55 (165.5, 0.7%). Market breadth is surging up. Of the 2,483 stocks traded today, 1,673 were gainers and 772 were losers.

Indian indices closed higher after gains in the morning session. The Indian volatility index, Nifty VIX, rose 0.5% and closed at 14.7 points. Kalpataru Projects International closed in the green after bagging new orders worth ~Rs 3,789 crore in the buildings and factories (B&F) and transmission & distribution (T&D) segments in India and overseas..

Nifty Smallcap 100 and Nifty Midcap 100 closed higher, tracking the benchmark index. S&P BSE Utilities and S&P BSE IPO were among the best-performing indices of the day. According to Trendlyne’s sector dashboard, Hardware Technology Equipment emerged as the best-performing sector of the day, with a rise of 3%.

European indices are trading in the red, except Spain’s IBEX 35 and Switzerland’s SMI indices, which are trading 0.3% and 0.4% higher, respectively. Major Asian indices closed in the green, except Australia’s S&P ASX 200 and Thailand’s SET indices, which closed 0.3% lower and flat, respectively. US index futures are trading flat, indicating a cautious start to the session ahead of fresh trade talks between the US and China, and release of the inflation numbers later in the week.

  • Piramal Pharma sees a long buildup in its June 26 futures series, with open interest increasing by 47% and a put-call ratio of 0.2.

  • Olectra Greentech’s Chairman and Managing Director (MD), K V Pradeep, tenders his resignation, due to personal reasons.

  • Bank of Baroda rises after it cuts Baroda Repo Linked Lending Rate (BRLLR) by 50 bps to 8.15%, effective June 7, after a reduction in the benchmark repo rate.

  • Life Insurance Corp of India rises as the Ministry of Finance appoints MD Sat Pal Bhanoo as the new Chief Executive Officer (CEO) and Managing Director (MD), succeeding Siddhartha Mohanty, for three months, effective June 8.

  • Puneet Gupta, Director for India & ASEAN Auto Market at S&P Global Mobility, highlights that India’s auto industry faces a new wave of disruption, as growth projections for 2025 come under pressure from China’s export curbs on rare earth magnets. He warns that potential production halts due to these restrictions could lead the industry into negative growth.

  • Eternal and Swiggy fall up to 4% after Rapido reportedly plans to launch a food delivery pilot in Bengaluru by month-end. Reports suggest Rapido is onboarding restaurants and plans to offer a flat Rs 25 delivery fee on orders below Rs 400, with an 8–15% commission for delivery partners.

  • Bajaj Finance rises to its all-time high of Rs 9,788 as its board of directors sets June 16 as the record date for its 4:1 bonus issue and 1:2 stock split.

  • Kernex Microsystems is rising as it receives a Rs 182.8 crore order from Western Railways to deploy Kavach system.

  • Wipro rises as reports suggest, 20.2 crore shares (2% equity), amounting to Rs 5,057 crore, change hands in a block deal.

  • UPL’s Brazil unit, Advanta Comercio, sells all assets of its associate company, Serra Bonita Sementes, for $125 million.

  • JSW Steel is rising as its consolidated steel production grows 8% YoY to 22.7 lakh tonnes in May. Capacity utilisation at its Indian operations stands at 80% in the month.

  • Tata Motors is rising as it projects a 40% market share in the commercial vehicle segment, implying a gain of 650 bps from its current level. The company also expects a double-digit EBITDA margin in its passenger EV business by FY27, up from the current 8.1%.

  • Cement stocks such as Dalmia Bharat and Nuvoco are declining amid concerns over the potential impact of the West Bengal government's decision to withdraw several incentives. Dalmia Bharat states that incentives worth Rs 236 crore granted to its wholly-owned subsidiary, Dalmia Cement (Bharat), may be affected. The company is currently reviewing the situation and exploring legal options.
  • HDFC Bank cuts its marginal cost of lending rate (MCLR) by 10 bps across all tenures, effective June 7. The revised MCLR, applicable to loans like home loans, now ranges from 8.9% to 9.1%.

  • Larsen & Toubro's heavy civil infrastructure (HCI) unit receives a significant order worth Rs 1,000–2,500 crore from JSW Energy. The order involves civil-related work for the 1500 MW Bhavali pumped storage project (PSP) in Maharashtra.

  • Lupin receives tentative approval from the US FDA for its abbreviated new drug application (ANDA) for Oxcarbazepine ER tablets. The tablet is used to treat seizures and has annual sales of $206 million as of April 2025, according to IQVIA.

  • Kotak Institutional Equities warns of a significant disconnect between the fundamentals and valuations of railway stocks like IRCON and RVNL. The brokerage notes these PSU stocks trade at high P/E multiples and several times their book value, which is difficult to justify given their financials and limited growth prospects. Kotak also sees no major pickup in railway capex to support such steep valuations.

  • RailTel Corporation is rising as it receives an order worth Rs 243.1 crore from the Bihar Education Department to supply student kits for students in classes 1-12 in government schools.

  • MCX rises sharply as the Securities and Exchange Board of India (SEBI) approves the introduction of electricity derivatives. The electricity derivatives contracts will enable power generation, distribution, and consumer companies to hedge against price volatility and manage price risks.

  • Suzlon Energy is rising as 19.8 crore shares (1.4% stake) worth approximately Rs 1,309 crore reportedly change hands in a block deal at an average price of Rs 64.7 per share. Promoters Tanti Family & Trust are likely the sellers in the transaction.

  • Arun Misra, CEO and Whole-time Director of Hindustan Zinc, emphasizes that silver demand is exceeding supply and expects this shortfall to continue through 2030. He projects that silver prices could rise to $41–42 per ounce by early 2027. Additionally, he mentions that the company may revise its silver volume guidance by July 2025.

  • Bikaji Foods International is rising as it receives approval from the National Company Law Tribunal (NCLT) to merge Vindhyawasini Sales with itself.

  • Kalpataru Projects International rises as it bags a new order worth ~Rs 3,789 crore. This includes its biggest order in the buildings and factories (B&F) segment in India to build over 12 million square feet of residential space with related facilities. The company also wins power transmission and distribution (T&D) orders in overseas markets.

  • PNC Infratech is rising as it receives an order worth Rs 239.9 crore from PWD-Rajasthan to construct a flyover from Heeradas Chouraha to Kumher Gate Chouraha in Bharatpur city.

  • Afcons Infrastructure secures an order worth Rs 700 crore from Reliance Industries (RIL) to execute construction work for Vinyl Projects in Dahej, Gujarat.

  • Nifty 50 was trading at 25126.20 (123.2, 0.5%), BSE Sensex was trading at 82,574.55 (385.6, 0.5%) while the broader Nifty 500 was trading at 23,301.45 (136.4, 0.6%).

  • Market breadth is surging up. Of the 2,056 stocks traded today, 1,697 were on the uptrend, and 314 went down.

Riding High:

Largecap and midcap gainers today include Coromandel International Ltd. (2,411.20, 4.9%), Indian Renewable Energy Development Agency Ltd. (183.24, 4.8%) and Hindustan Zinc Ltd. (525, 4.5%).

Downers:

Largecap and midcap losers today include APL Apollo Tubes Ltd. (1,883, -2.0%), Eternal Ltd. (256.84, -1.9%) and Berger Paints (India) Ltd. (571.50, -1.7%).

Volume Shockers

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

Top high volume gainers on BSE included Capri Global Capital Ltd. (181.34, 19.3%), Westlife Foodworld Ltd. (738, 10.6%) and Five-Star Business Finance Ltd. (800.80, 9.6%).

Top high volume losers on BSE were Century Plyboards (India) Ltd. (773.85, -2.0%) and Chemplast Sanmar Ltd. (425.05, -0.2%).

G R Infraprojects Ltd. (1,394.50, 8.8%) was trading at 17.5 times of weekly average. JBM Auto Ltd. (735.30, 3.9%) and Happiest Minds Technologies Ltd. (615.85, 4.6%) were trading with volumes 12.3 and 12.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

23 stocks took off, crossing 52 week highs,

Stocks touching their year highs included - Bajaj Finance Ltd. (9,607.50, 2.5%), Bank of India (129.31, 4.0%) and City Union Bank Ltd. (204.67, 1.7%).

39 stocks climbed above their 200 day SMA including Five-Star Business Finance Ltd. (800.80, 9.6%) and G R Infraprojects Ltd. (1,394.50, 8.8%). 4 stocks slipped below their 200 SMA including BLS International Services Ltd. (384.45, -3.6%) and Century Plyboards (India) Ltd. (773.85, -2.0%).

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The Baseline
06 Jun 2025
Five Interesting Stocks Today - June 06, 2025
By Trendlyne Analysis

1. Cummins India:

This engine manufacturer surged 6.8% over the past week after announcing its Q4 and FY25 results. Revenue growth was 7.4% in FY25, slightly belowForecaster estimates due to weaker-than-expected performance in the power generation (powergen) segment. Net profit declined marginally on a high base from FY24, but still came ahead of estimates. The company appears in a screener of stocks that have delivered consistently high returns over the past five years.

Cummins India gets 38% of its revenue from the powergen segment, 26% from the distribution segment, and around 16% from the industrial segment. The rest comes from exports and other segments. Powergens saw 14% growth in FY25, but declined 8% YoY in Q4 due to decline in volumes. Analysts expect recovery this year as competitive intensity is stabilising, and demand is also rebounding in the residential, commercial, and infrastructure sectors.

Revenue from industrials outperformed other segments with annual growth of 29%, thanks to resilient construction activity and momentum in rail orders. Exports grew 6% in FY25, with 39% YoY growth in Q4. Latin America and Europe were the strongest-performing export markets. 

Going forward, MD Shveta Arya says, “We anticipate double-digit revenue growth in FY26, while remaining cautiously optimistic, given the uncertainty from changes in global tax and trade policies, along with the geopolitical issues.” She highlights demand from emerging segments like quick commerce and data centres, adding to revenue growth.

Prabhudas Lilladher maintains a ‘Buy’ rating on Cummins India, citing robust domestic demand in the powergen segment, particularly for CPCB IV+ (new emission standard) products, which are seeing strong market traction. The brokerage expects the company to maintain its margin profile and sees significant growth potential in the distribution business. Key risks include higher commodity prices, increased competitive intensity and lower-than-expected demand from core segments.

2. United Spirits:

This breweries & distilleries company rose 5.1% over the past week and is trading near its 52-week high of Rs 1,700. The firm reported a 7.4% growth in revenue with net profit growth of 12.4% in FY25. It marginally missed Forecaster operating revenue estimate by 1.5% due to decline in sports drinks segment revenue. The company appears in a screener of stocks with strong momentum.

During the year, the company witnessed policy gains in several states. Uttar Pradesh (UP) introduced a key reform in its 2025-26 excise policy. Praveen Someshwar, MD & CEO of USL, discussed the regulatory changes, “Liquor shops in UP that earlier sold only beer or spirits will now operate as composite outlets, doubling spirits retail points from 6,500 to around 12,500. This year, we resumed business in Andhra Pradesh after five years, supported by progressive policy changes, with our trademarks quickly regaining near-national market share.”

In the recent India-UK free trade agreement, the duty on scotch has been halved from 150% to 75%. The company is set to benefit from this and the management believes that this step will lead to a high single-digit reduction in consumer prices. Mr. Someshwar, added, “As the clear leader in scotch and Indian Made Foreign Liquor (IMFL) in India, with a portfolio spanning the full consumer spectrum from Rs 120 to Rs 25,000 per bottle, we see a significant opportunity to drive the next phase of growth.”

JP Morgan has raised its rating on United Spirits to 'Overweight' and raised its target price to Rs 1,760. This upgrade is primarily due to several favorable regulatory changes including the reopening of the market in Andhra Pradesh, expanded retail presence in Uttar Pradesh, an improved excise policy in Madhya Pradesh, and the privatization of retail alcohol sales in Jharkhand. The brokerage also noted the significant growth prospects within United Spirits' 'Prestige and above' (luxury) segment, leading to an increase in its FY26 and FY27 EBITDA estimates by 3% and 7%, respectively.

3. Bata India:

This footwear maker has fallen by 3.2% over the past week after announcing its Q4 and FY25 results on May 29. Bata’s net profit declined 27.9% YoY to Rs 45.9 crore in Q4FY25 due to lower sales and higher employee benefit and depreciation & amortisation expenses. The company appears in a screener of stocks underperforming their industry price change in the quarter.

While revenue decreased 1.2% YoY to Rs 788.2 crore on account of a weak demand environment, Bata’s overall quarterly volumes were up 8% driven by the e-commerce and franchise channels, store expansion, improved inventory management and merchandising. 

The company has been focusing on value-driven offerings to boost volumes amid subdued demand. The management noted volume-led growth in the sub Rs 1,000 product range and the Floatz portfolio. The Floatz category surpassed Rs 100 crore in revenue in FY25. Gunjan Shah, the MD and CEO, said, “This year, my sense is if this momentum continues, we should be in the range of about Rs 200 crore.” The more premium Hush Puppies and Power brands also witnessed strong growth.

For FY25, Bata’s revenue fell marginally by 1.2% to Rs 665.3 crore. EBITDA margins stood at 21.1%. The company continued its retail expansion, bringing the total number of company-owned company-operated (COCO) and franchise stores to 1,962, with a focus on scaling the franchise model. Currently, Bata maintains an 80:20 split between franchise and COCO models. Its franchise network grew to 624 stores.

Over the past year, Bata’s share price has declined by 14.4%. Bata may be a household name when it comes to footwear, but it’s being squeezed by strong competition from both the premium and affordable players in the market – global brands like Nike, Adidas, and Puma, as well as local, affordable brands like Relaxo and Campus Activewear. To stay competitive, Bata has been focusing on a brand refresh and launching new product lines, including sneakers. Analysts believe that Bata’s focus on premiumisation, casualisation, and a simplified product portfolio, combined with franchise-led expansion in Tier 3 and 5 towns, should deliver positive results over time. But intense competition will persist.

Motilal Oswal has maintained its ‘Neutral’ rating with a lower target price of Rs 1,200. The brokerage believes that Bata is seeing early traction in the value segment. It adds that a strategic inventory cleanup, curated product refreshes, and franchise-led expansion will help the company improve efficiency and drive margin recovery, despite near-term pressures.

4. Genus Power Infrastructures:

Thiselectrical equipment company has risen 2.2% in the past week after announcing itsQ4FY25 results. It reported a 119.7% YoY revenue increase to Rs 957.5 crore, thanks to its fast-growing smart-metering project order book. Higher capacity utilization and improved operational efficiency drove net profit up 406.4% to Rs 123.3 crore.

Genus Power manufactures smart electricity meters and executes power distribution projects. It holds an order book of Rs 30,110 crore as of FY25, and has outperformed theconsumer durables sector by 15.3% over the past year.

In FY25, Genus Power’s revenue was up 96.5% at Rs 2,524 crore, and net profit rose 259.2% to Rs 311.3 crore, driven by cost control on raw materials and favourable product mix. The company’s backwardintegration into software solutions such as meter data management (MDM) and head-end systems (HES) enhanced efficiency and boosted the EBITDA margin by 7.9 percentage points in FY25.

The company revised its revenue guidance by 10% for FY26, targeting 60% growth to Rs 4,000 crore. It expects tenders from states like Kerala and West Bengal, and plans to install 70-80 lakh meters during FY26. Jitendra Kumar Agarwal, Joint Managing Director,said, “We have increased our capacity from 1 crore meters at the end of last year to 1.5 crore now. This capacity ramp-up will support growing demand, and we expect installation numbers to rise steadily through FY26.”

Genus Power holds a 27% market share in the electricity metering solutions industry. Under the National Smart Grid Mission, the governmentplans to install 25 crore smart meters by the end of FY26, of which 12% have already been installed. Management anticipates significant long-term opportunities to increase market share in this segment from upcoming tenders.

Following the company’s earnings announcement, Axis Securitiesmaintains a ‘Buy’ rating on the stock. The brokerage believes Genus Power can achieve a production capacity of 10 lakh smart meters per month based on sectoral demand, and they expect revenue and margins to improve over the long term as production capacity ramps up.

5. NMDC:

This mining company has risen 9.9% over the past month but gave up some gains recently after announcing a price cut in June. It reduced iron ore lump prices by Rs 140 per tonne and iron ore fines by Rs 150 per tonne. The company is now shifting to formula-based pricing, which it sees as a potential 'game changer'. Formula-based pricing links domestic ore prices to international benchmarks and market conditions.

NMDC’s iron ore prices are currently about 30% lower than international rates, which averaged $100 per tonne in May, down from around $108 per tonne in January. Global prices have come under pressure due to a sharp slowdown in China’s manufacturing activity, which is at its lowest level in over two years. Analysts caution that with weak demand and rising trade concerns, prices may fall further, possibly returning to the $90 per tonne levels last seen in 2019.

NMDC expects to maintain EBITDA margin at 42% in FY26, despite ongoing pricing pressures. Amitava Mukherjee, the Chairman & MD, said, “Price pressure will obviously be there throughout the year, but we are counting on the volumes to manage the margins.” The company had reported a 42% EBITDA margin in FY25 as well.

In Q4FY25, the company’s revenue increased 8% YoY to Rs 7,000 crore from higher volumes and improved realisation. Volume growth picked up in Q4 after a slow start to the year. NMDC also implemented regular price hikes in FY25, which helped offset the impact of lower volumes earlier in the year.

For FY25, NMDC’s revenue grew 12% and net profit rose 13%. However, both missed Forecaster estimates by 0.8% and 8.2%, respectively. Iron ore production stood at 44 million tonnes (MT), down 2%, while sales volume was flat at 44.6 MT.

NMDC is targeting a production volume of 55 MT for FY26, up from the current level of 53 MT. It plans to scale this up to 82 MT over the next 12 to 18 months. Mukherjee said, “For FY26, we are guiding a capex of Rs 4,000-4,200 crore. A significant ramp-up is expected in FY27-28, potentially exceeding Rs 10,000 crore annually as projects move into execution.”

Motilal Oswal maintains its ‘Buy’ rating on NMDC, expecting healthy volume growth and stable realisations to support strong performance. The brokerage also noted that NMDC’s planned capex will help improve its product mix and raise production capacity to around 100 MT by FY29–30.

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
06 Jun 2025
Market closes higher, RBI’s MPC slashes the Cash Reserve Ratio from 4% to 3%
By Trendlyne Analysis

Nifty 50 closed at 25,003.05 (252.2, 1.0%), BSE Sensex closed at 82,188.99 (747.0, 0.9%) while the broader Nifty 500 closed at 23,165.10 (230.6, 1.0%). Market breadth is in the green. Of the 2,452 stocks traded today, 1,294 were in the positive territory and 1,107 were negative.

Indian indices closed higher after the Reserve Bank of India announced a larger-than-expected rate cut. RBI lowered the repo rate by 50 bps to 5.5%. It also slashed the Cash Reserve Ratio (CRR) by 100 bps to 3%, which is expected to inject Rs 2.5 lakh crore in liquidity and lower funding costs for banks. The Indian volatility index, Nifty VIX, fell around 3% and closed at around 14.6 points. Tejas Networks closed 1.6% higher after the Ministry of Communications awarded a Rs 123 crore PLI scheme for telecom and networking products.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green. BSE Realty Index and Nifty Private Bank closed higher. According to Trendlyne’s sector dashboard, Diversified emerged as the best-performing sector of the day, with a rise of 4.2%.

European indices are trading mixed. Major Asian indices closed mixed. US index futures are trading higher, indicating a positive start to the session as investors await the key labor market report today. The US economy is expected to add 126,000 jobs in May, down from 177,000 in the previous month, while the unemployment rate is likely to remain flat at 4.2%.

  • Relative strength index (RSI) indicates that stocks like Solar Industries, Pfizer, Central Depository Services India, and Bharat Electronics are in the overbought zone.

  • IndusInd Bank rises as RBI officials express confidence that the recent accounting issues will soon stabilise, indicating improved regulatory sentiment towards the lender.

  • Dishman Carbogen Amcis plans to co-invest over CHF 25 million (approx. Rs 260.8 crore) with a long-standing Japanese customer to expand manufacturing capacity at its Aarau and Neuland sites in Switzerland. The investment will help the company produce more drug linkers to meet increasing global demand.

  • Praj Industries rises sharply as it secures an international assignment from Enersur SA to support a biorefinery project in South America. Praj will assist in planning, evaluating, and executing the plant to produce ethanol and co-products.

  • Jairam Sampath, Whole-time Director & CFO of Kaynes Technologies, reiterates the company’s FY28 revenue guidance of $1 billion. He also projects electronics manufacturing services (EMS) revenue of Rs 4,500 crore for FY26, with a 100 bps margin improvement. The company plans a capex of Rs 800 crore for geographic expansion and Rs 400 crore to strengthen its technology capabilities. It also plans a Rs 1,600 crore QIP to support inorganic growth and expand its tech footprint.

  • Oriana Power is rising as it receives an order worth Rs 98.6 crore for the engineering, procurement, construction, and commissioning of a 20 MW ground-mounted solar photovoltaic project in Banka, Bihar. The contract also includes operation and maintenance services for three years.

  • Rama Steel Tubes rises sharply as it forms a joint venture with Onix IPP to develop a 225 MW solar power project under the PM-KUSUM scheme. The project spans multiple locations in Maharashtra and has 25-year power purchase agreements with Maharashtra State Electricity Distribution (MSEDCL).

  • Tata Investment Corp rises sharply after reports indicate Tata Capital may soon get SEBI’s nod for its Rs 17,200 crore initial public offering (IPO), boosting sentiment around group-linked financial entities.

  • According to data from the Federation of Automobile Dealers Associations (FADA), retail sales of passenger vehicles (PV) decline 3.1% in May to 3,02,214 units, down from 3,11,908 units last year. The association notes that supply chain challenges due to rare-earth mineral shortages in EV components and ongoing geopolitical tensions may dampen urban consumer sentiment.

  • JSW Energy rises as it commissions 281?MW of renewable energy capacity, taking its total installed capacity to 12,499?MW. Additionally, the company's subsidiary, JSW Renew Energy Three, signs a 25-year power purchase agreement (PPA) with Adani Electricity for a 250?MW wind project at a tariff of Rs 3.65/kWh.

  • Muthoot Finance is rising as the Reserve Bank of India (RBI) revises the loan-to-value (LTV) ratio on small gold loans up to Rs 2.5 lakh to 85% from 75%, including the interest component. LTV is the percentage of a loan amount compared to the value of the collateral.

  • Canara Bank's board of directors schedules a meeting on June 12 to consider the capital raising plan for FY26.

  • RBI keeps the FY26 GDP growth forecast unchanged at 6.5% but lowers the CPI inflation forecast to 3.7% from the earlier estimate of 4%. Governor Sanjay Malhotra says an above-normal monsoon bodes well for kharif crops. He adds that India remains an attractive investment destination and highlights that the country's forex reserves are sufficient to cover 11 months of imports.
  • Imagicaaworld Entertainment signs a Rs 275 crore loan deal with HDFC Bank to fund the acquisition of Wet’n Joy parks in Lonavala and Shirdi, including the Shirdi-based Saiteerth Devotional Theme Park.

  • Bharat Electronics receives orders worth Rs 2,323 crore from Mazagon Dock Shipbuilders (MDL) and Garden Reach Shipbuilders & Engineers (GRSE) to supply base and depot spares for missile systems on Indian Naval ships.

  • City Union Bank is rising as its board of directors schedules a meeting on June 11 to consider and approve raising funds through the issue of one or more instruments/ securities.

  • The RBI’s Monetary Policy Committee (MPC) slashes the Cash Reserve Ratio (CRR) from 4% to 3%, which is expected to inject Rs 2.5 lakh crore in liquidity and lower funding costs for banks. The central bank shifts its policy stance to ‘Neutral.’ RBI Governor Sanjay Malhotra notes that global growth and trade projections are revised downward as the growth-inflation trade-off becomes increasingly challenging.

  • Indian Renewable Energy Development Agency's board of directors approves raising funds worth up to Rs 5,000 crore through a qualified institutional placement (QIP) of equity shares at a floor price of Rs 173.8.

  • CLSA maintains its 'Outperform' call on Bajaj Auto with a target price of Rs 10,149 per share. The brokerage expects 15–20% export growth in FY26, driven by strong demand from Latin America and Africa. The company also plans to launch a new Chetak electric scooter to strengthen its share in the electric two-wheeler (e2W) market.

  • Azad Engineering falls as 48 lakh shares (7.4% stake) worth approximately Rs 780 crore reportedly change hands in a block deal at an average price of Rs 1,640 per share.

  • The Reserve Bank of India(RBI) cuts repo rate for the third consecutive time by 50 bps to 5.5%. The central bank shifts its stance to ‘Neutral’ from Accommodative, during the Monetary Policy Committee meeting.

  • Bajaj Finserv's promoters, Bajaj Holdings and Jamnalal Sons, reportedly plan to sell 3.1 crore shares (1.9% stake), worth Rs 5,800 crore, via a block deal at an average price of Rs 1,880 per share.

  • ZF Commercial Vehicle Control Systems rises as 6 lakh shares (3.2% stake), worth Rs 792 crore, reportedly change hands in a block deal at an average price of Rs 13,191 per share. Promoter WABCO is likely the seller in the transaction.

  • Ashoka Buildcon is rising as its subsidiary secures orders worth Rs 1,387.2 crore from the Maharashtra Motor Vehicles Department to design, implement, operate, and maintain an Intelligent Traffic Management System across various circles in the state.

  • The Ministry of Communications, Department of Telecommunications, awards Tejas Networks a Rs 123 crore PLI (Production Linked Incentive) scheme for telecom and networking products.

  • Nifty 50 was trading at 24,750.35 (-0.6, 0%), BSE Sensex was trading at 81,434.24 (-7.8, 0.0%) while the broader Nifty 500 was trading at 22,963.20 (28.7, 0.1%).

  • Market breadth is overwhelmingly positive. Of the 1,993 stocks traded today, 1,445 showed gains, and 492 showed losses.

Riding High:

Largecap and midcap gainers today include IDFC First Bank Ltd. (71.55, 7.1%), ICICI Lombard General Insurance Company Ltd. (2,006.20, 6.9%) and Godrej Properties Ltd. (2,467, 6.7%).

Downers:

Largecap and midcap losers today include Sona BLW Precision Forgings Ltd. (510.15, -3.4%), Bharti Hexacom Ltd. (1,819.20, -3.2%) and Solar Industries India Ltd. (16,523, -2.9%).

Volume Shockers

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

Top high volume gainers on BSE included Godrej Industries Ltd. (1,359.50, 14.2%), Ramkrishna Forgings Ltd. (656.75, 9.4%) and Aditya Birla Real Estate Ltd. (2,355.80, 9.1%).

Top high volume loser on BSE was Capri Global Capital Ltd. (152.04, -1.3%).

Route Mobile Ltd. (1,021.35, 6.0%) was trading at 13.6 times of weekly average. Ujjivan Small Finance Bank Ltd. (47.83, 7.5%) and PNB Housing Finance Ltd. (1,104.90, 3.9%) were trading with volumes 10.0 and 7.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

21 stocks made 52 week highs,

Stocks touching their year highs included - Abbott India Ltd. (31,300, -1.3%), Bajaj Holdings & Investment Ltd. (14,251, 5.7%) and Bharat Electronics Ltd. (390.70, -0.7%).

33 stocks climbed above their 200 day SMA including Aditya Birla Real Estate Ltd. (2,355.80, 9.1%) and ICICI Lombard General Insurance Company Ltd. (2,006.20, 6.9%). 8 stocks slipped below their 200 SMA including BLS International Services Ltd. (398.65, -2.5%) and CG Power and Industrial Solutions Ltd. (681.60, -2.1%).

Trendlyne Marketwatch
Trendlyne Marketwatch
05 Jun 2025
Market closes higher, Tata Motors' JLR wholesales fall 24% YoY in May
By Trendlyne Analysis

Nifty 50 closed at 24,750.90 (130.7, 0.5%) , BSE Sensex closed at 81,442.04 (443.8, 0.6%) while the broader Nifty 500 closed at 22,934.50 (126.7, 0.6%). Market breadth is in the green. Of the 2,445 stocks traded today, 1,381 were on the uptick, and 1,020 were down.

Indian indices closed in the green supported by a sharp rebound in pharma, oil & gas, and realty stocks. The Indian volatility index, Nifty VIX, declined 4.2% and closed at 15.1 points. Welspun Corp surged to a new all-time high of Rs 970 as it received a repeat export order worth Rs 450 crore from the Middle East to supply 50 km of LSAW pipes and bends.

Nifty Midcap 100 & Nifty Smallcap 100 closed in the green, following the benchmark index. Nifty India Defence & BSE Realty Index were among the top index gainers today. According to Trendlyne’s Sector dashboard, Retailing emerged as the best-performing sector of the day, with a rise of 2.6%.

Asian indices closed higher except Japan’s Nikkei 225, while European indices are trading in the green. US index futures traded in the green, indicating a positive start to the trading session. Barclays raised its S&P 500, 2025 year-end target to 6,050 from 5,900, citing easing trade uncertainty and expected earnings normalization.

  • Money flow index (MFI) indicates that stocks like Pfizer, Central Depository Services, GE Vernova T&D India, and Gillette India are in the overbought zone.

  • Valor Estate is rising as it receives a letter of award from Brihanmumbai Municipal Corp (BMC) to develop 13,374 affordable homes under the PAP scheme in Zone IV, Mumbai, with an estimated GDV of Rs 7,000 crore.

  • Tata Motors' Jaguar Land Rover (JLR) wholesales decline 24% YoY to 4,643 units in May, as Jaguar records zero sales vs 1,363 last year. Land Rover volumes remain steady, falling just 2% YoY.

  • Zaggle Prepaid Ocean Services plans to acquire a 100% stake in Dice Enterprises for Rs 123 crore to expand its product range and customer base.

  • India's general insurance sector anticipates faster growth in FY26, led by strong performance from private insurers. ICRA projects an 8.7% rise in premium income for FY26, reaching Rs 3.21–3.24 lakh crore, followed by a 10.9% growth in FY27. Private insurers are expected to continue gaining market share, while public sector insurers may struggle with weak capital positions.

  • IEX falls as Dalmia Cement sells 1 crore shares worth Rs 200 crore through a bulk deal at an average price of Rs 201.

  • Emkay maintains its 'Buy' rating on Indian Bank with a target price of Rs 675. The brokerage highlights the management’s guidance for 10–12% credit growth in FY26, with a focus on boosting the share of mid-corporate and SME loans. This shift is expected to support margins in the long term. Emkay also notes the bank has peer-best asset quality, with a net non-performing asset (NPA) ratio of just 0.2%.

  • TVS Motor Company falls as its board appoints Managing Director Sudarshan Venu as the company's new Chairman, succeeding Ralf Speth, effective August 25.

  • Central Bank of India acquires a 24.9% equity stake (around 35.1 crore shares) in Future Generali India Insurance (FGIICL) for up to Rs 451 crore, marking its entry into the general insurance space. Generali Group retains a controlling 74% stake in FGIICL. The move aligns with Central Bank of India’s strategy to broaden its presence in the financial services ecosystem.

  • Man Industries (India) is rising as it receives an export order worth Rs 1,150 crore from an international customer to supply various types of pipes.

  • RailTel Corp of India rises sharply as it receives a letter of intent (LoI) from Maharashtra’s Motor Vehicles Department for a Rs 274.4 crore order. The company will implement and maintain an intelligent traffic management system (ITMS) in Vidarbha Circle, eastern Maharashtra, till September 4, 2036.

  • Welspun Corp surges to a new all-time high of Rs 970 as it receives a repeat export order worth Rs 450 crore from the Middle East to supply 50 km of LSAW pipes and bends with anti-corrosion and concrete weight coatings.

  • Arun Shukla, President & Director of JK Lakshmi Cement, expects the industry to grow over 6–7% YoY and aims to outperform this pace. He does not anticipate a near-term increase in cement prices. Renewable energy now makes up 50% of the company’s total energy use, with a target of 53% by FY26. Premium products account for 25% of trade volume, with plans to increase this to 30% in 1.5 to 2 years.

  • Deccan Gold Mines surges as its associate firm, Geomysore, receives consent to operate (CTO) the Jonnagiri Gold Project from the Andhra Pradesh Pollution Control Board (APPCB). This allows the company to begin operations at the gold ore processing plant.

  • Honasa Consumer receives approval from the National Company Law Tribunal (NCLT) to merge Fusion Cosmeceutics and Just4Kids Services with itself.

  • HSBC retains its 'Buy' rating on Mahindra and Mahindra with a target price of Rs 3,470 per share. The brokerage believes the company's electric vehicles business margins will improve to mid-single digits over the next 12–18 months. It expects strong production-linked incentives (PLI) to boost its profitability further.

  • Goldman Sachs reiterates its 'Sell' rating on IDFC First Bank with a target price of Rs 64, citing concerns over elevated credit costs and low net interest margins. The brokerage expects credit costs to remain high in the first half of FY26, with recovery in the microfinance segment playing a key role. It forecasts a subdued return on assets (ROA), averaging 0.4% in H1FY26 and improving to 0.7% in H2 as credit costs ease.

  • JPMorgan maintains its 'Overweight' call on Reliance Industries with a target price of Rs 1,568 per share. The brokerage expects an improvement in earnings over the next two years than the previous two, driven by growth in the consumer business segment.

  • CESC’s subsidiary, Purvah Green Power, signs an agreement with Envision Energy India to supply and commission 1 GW of wind turbine generators. The deal includes 10 years of operations and maintenance services post commissioning.

  • Dr. Reddy's Laboratories is rising as it collaborates with Alvotech to co-develop a biosimilar of Keytruda, a drug used to treat lung and skin cancer. The drug recorded global sales of $29.5 billion in 2024.

  • Antique Stock Broking projects strong domestic steel demand in India, expecting it to grow 8.5% YoY to 156 million tonnes in CY25, driven by the infrastructure and automotive sectors. It notes a 7% rebound in domestic hot-rolled coil (HRC) prices, supported by safeguard duties, while Chinese steel exports may decline due to US tariffs and production curbs. The brokerage maintains a 'Buy' rating on Tata Steel and JSPL, with target prices of Rs 165 and Rs 1,013, respectively.

  • Angel One's average daily turnover (ADTO) drops 18.2% YoY to Rs 35.8 lakh crore in May. Its gross client acquisition drops 43.1% YoY to 5 lakh during the month. The company appears in a screener of stocks where promoters are decreasing their shareholding.

  • NTPC Green Energy is rising as its subsidiary, NTPC Renewable Energy, signs a power purchase agreement with Uttar Pradesh Power Corp (UPPCL) for a 1,000 MW solar photovoltaic project.

  • Bharat Electronics receives orders worth Rs 537 crore for communication systems, jammers, simulators, spares, software, and related services across various defence and technology segments.

  • Force Motors is rising as its monthly wholesales rise 19% YoY to 3,088 units in May. Meanwhile, monthly exports drop 52.2% YoY to 86 units.

  • Nifty 50 was trading at 24,627.30 (7.1, 0.0%), BSE Sensex was trading at 81,196.08 (197.8, 0.2%) while the broader Nifty 500 was trading at 22,838 (30.2, 0.1%).

  • Market breadth is highly positive. Of the 1,990 stocks traded today, 1,523 were on the uptick, and 420 were down.

Riding High:

Largecap and midcap gainers today include Hindustan Zinc Ltd. (491.60, 5.0%), JSW Infrastructure Ltd. (307.10, 4.9%) and Eternal Ltd. (256.56, 4.4%).

Downers:

Largecap and midcap losers today include Sona BLW Precision Forgings Ltd. (528.10, -1.9%), Federal Bank Ltd. (207.07, -1.9%) and Dixon Technologies (India) Ltd. (14,694, -1.8%).

Volume Rockets

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

Top high volume gainers on BSE included Cochin Shipyard Ltd. (2,350.80, 12.7%), JM Financial Ltd. (141.62, 8.2%) and Welspun Living Ltd. (140.61, 5%).

Top high volume losers on BSE were Ajanta Pharma Ltd. (2,582.40, -0.2%) and Newgen Software Technologies Ltd. (1,224.40, 0.0%).

PNC Infratech Ltd. (299, 4.8%) was trading at 29.2 times of weekly average. Sheela Foam Ltd. (656.10, 4.7%) and JSW Infrastructure Ltd. (307.10, 4.9%) were trading with volumes 9.7 and 6.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

15 stocks made 52 week highs,

Stocks touching their year highs included - Abbott India Ltd. (31,695, 1.3%), Bharat Electronics Ltd. (393.50, 0.7%) and Fortis Healthcare Ltd. (754.75, 2.2%).

35 stocks climbed above their 200 day SMA including Hindustan Zinc Ltd. (491.60, 5.0%) and 360 One Wam Ltd. (1,074, 4.9%). 6 stocks slipped below their 200 SMA including Concord Biotech Ltd. (1,852, -1.3%) and Bandhan Bank Ltd. (166.86, -1.3%).

Trendlyne Marketwatch
Trendlyne Marketwatch
04 Jun 2025
Market closes higher, TVS signs MoU with Kadam Mobility to deploy 500 electric 3-wheelers in FY26
By Trendlyne Analysis

Nifty 50 closed at 24,620.20 (77.7, 0.3%), BSE Sensex closed at 80,998.25 (260.7, 0.3%) while the broader Nifty 500 closed at 22,807.85 (96.6, 0.4%). Market breadth is in the green. Of the 2,446 stocks traded today, 1,289 were gainers and 1,104 were losers.

Indian indices closed higher after rising throughout the day. The Indian volatility index, Nifty VIX, fell 4.9% and closed at 15.7 points. Garden Reach Shipbuilders surged 6.5% to its all-time high of Rs 3,465.5 after signing a memorandum of understanding (MoU) with Norway's Kongsberg to build a polar research vehicle.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher, following the benchmark index. Nifty India Digital and S&P BSE Telecom Indices were among the top index gainers today. According to Trendlyne’s sector dashboard, Telecom Services emerged as the top-performing sector of the day, with a rise of 1.6%.

Asian indices closed higher, except for Thailand’s SET, which closed lower. European indices are trading higher, except for Portugal’s PSI, which is trading lower. US index futures are trading flat or higher as investors weigh increased metal tariffs against hopes of progress in US-China trade talks. Brent crude futures are trading higher after rising 1.7% on Tuesday.

  • Coforge sees a short buildup in its June 26 futures series, with open interest increasing by 4x and a put-call ratio of 0.5.

  • Yes Bank rises as its board of directors approves raising up to Rs 7,500 crore in equity and Rs 8,500 crore via debt instruments in FY26. The funds will be raised in tranches across domestic and global markets, with dilution capped at 10%.

  • Swiggy surges as Morgan Stanley initiates coverage with a 'Buy' call and a target price of Rs 405 per share. This indicates a potential upside of 12.4%. The brokerage believes that the company's food delivery and quick commerce businesses will grow due to aggressive investments in infrastructure. It expects the firm's quick commerce business to grow at a CAGR of 63% over FY26-28.

  • TVS Motor signs a memorandum of understanding (MoU) with Kadam Mobility to deploy 500 TVS King EV MAX electric three-wheelers in FY26. The company plans to roll out the vehicles in phases starting in Q2FY26.

  • Nomura maintains a 'Neutral' rating on Tata Motors with a target price of Rs 799. The brokerage expects the newly launched Harrier EV to drive higher EV penetration with its competitive pricing. Nomura projects EV penetration to increase to 4% in FY26 and 5% in FY27, up from 2.3% in FY25. The new model's price aligns with entry-level diesel automatic SUVs in the high SUV segment.

  • Geojit BNP Paribas retains its 'Buy' call on Bharat Electronics, with a target price of Rs 441 per share. This indicates a potential upside of 13.9%. The brokerage remains positive on the stock due to the government's focus on domestic manufacturing, the growing contribution of electronics in defense, healthy market positioning, a robust order backlog, and consistently strong margins. It expects the firm's revenue to grow at a CAGR of 17.7% over FY26-27.

  • Chennai Petroleum Corp allocates Rs 400 crore as capital expenditure to re-enter the direct fuel retail segment. It plans to set up petrol and diesel outlets over the next 2–3 years as part of its expansion plan.

  • Kaynes Technology India is falling as it provides a corporate guarantee for a Rs 250 crore loan from multiple banks for its step-down subsidiary, Kaynes Canada. The company also invests $8.8 million (~ Rs 75.6 crore) in its subsidiary, Kaynes Holding.

  • Crude oil futures decline as the OECD (Organisation for Economic Cooperation and Development) lowers its global GDP growth outlook from 3.3% in 2024 to 2.9% in the next two years, assuming that mid-May tariff rates remain in place. It expects growth through 2025 to remain weak, with global output projected to rise just 2.6% YoY by the fourth quarter and only 1.1% in the US.

  • Ethos is rising as its board of directors approves a fundraising of up to Rs 410 crore through the rights issue of equity shares.

  • Reports suggest that 63.4 crore shares (0.6% stake) of Vodafone Idea, worth Rs 428.4 crore, have changed hands in a block deal at an average price of Rs 6.8 per share. Ericsson India is likely the seller in the transaction.

  • Garden Reach Shipbuilders surges to its all-time high of Rs 3,465.5 per share as it enters a memorandum of understanding (MoU) with Norway's Kongsberg to construct a polar research vehicle.

  • Nuvama maintains a 'Buy' rating on Ceat with a target price of Rs 3,800. The brokerage believes the Camso acquisition will enhance the company’s margin profile and increase the export share of revenue to 25–26%. It anticipates strong export growth in FY26 and domestic replacement growth in single digits. It also projects a decline in raw material costs during Q1–Q2FY26 and estimates a capital expenditure of Rs 900–1,000 crore for FY26.

  • Sun Pharma Advanced Research Co plunges as it fails to meet key goals in phase-2 trials of its drug, Vibozilimod, for skin conditions like psoriasis and eczema. The company discontinues the drug’s development with no further trials planned.

  • Scoda Tubes’ shares make a flat debut on the bourses at Rs 140. The Rs 220 crore IPO received bids for 53.8 times the total shares on offer.

  • Tata Technologies falls as private equity TPG reportedly plans to divest its entire 2.1% stake (or 85.1 lakh shares) at a floor price between Rs 744.5 and Rs 767.5 per share, aggregating to Rs 634.1 crore through a block deal.

  • India's Services PMI rises marginally to 58.8 in May, up from 58.7 in April, staying well above the 50-mark. This represents the fastest expansion since February, driven by continued growth in output and new orders. Foreign sales touched record highs on the back of robust international demand.

  • Gland Pharma receives final approval from the US FDA for Angiotensin II Acetate injection, used to treat very low blood pressure. According to IQVIA, the drug had a market size of $58 million in the US as of March 2025.

  • Alkem Laboratories falls as a 1.4% equity stake worth approximately Rs 825 crore reportedly changes hands in a block deal at an average price of Rs 4,850 per share. Promoter Jayanti Sinha is likely the seller in this transaction.

  • Aditya Birla Fashion and Retail plunges as 10.7 crore share (8.8% stake), worth Rs 862 crore, reportedly change hands in a block deal at an average price of Rs 80 per share. Flipkart is likely the seller in the transaction.

  • Adani Enterprises' arm, Adani Airports Holdings, raises $750 million (approximately Rs 6,240 crore) through external commercial borrowings (ECB) from a consortium of international banks. These include First Abu Dhabi Bank, Barclays PLC, and Standard Chartered Bank. The proceeds will be used to refinance existing debt, invest in infrastructure upgrades, and expand capacity across the six airports.

  • Indegene falls sharply as Carlyle Group reportedly plans to divest its entire 10.2% stake (or 2.4 crore shares) at a floor price of Rs 580 per share, aggregating to Rs 1,420 crore through a block deal.

  • Indian Energy Exchange's electricity volume increases by 14% YoY to 10,946 million units (MU) in May. IEX Green Market achieves a volume growth of 47% YoY to 915 MU.

  • Ashok Leyland is rising as it secures an order worth Rs 183.8 crore from Tamil Nadu State Transport Corp (TNSTC) to supply 543 BSVI diesel chassis and fully built buses.

  • Zydus Lifesciences' subsidiary, Zyus Pharmaceuticals USA, acquires two US-based biologics manufacturing facilities in California from Agenus for a cash consideration of $75 million (~ Rs 643.2 crore). This acquisition allows Zydus to enter the global biologics contract development and manufacturing organisation (“CDMO”) business.

  • Nifty 50 was trading at 24,572.45 (30.0, 0.1%), BSE Sensex was trading at 80,777.65 (40.1, 0.1%) while the broader Nifty 500 was trading at 22,764.30 (53, 0.2%).

  • Market breadth is in the green. Of the 1,964 stocks traded today, 1,278 showed gains, and 641 showed losses.

Riding High:

Largecap and midcap gainers today include Rail Vikas Nigam Ltd. (429.95, 6.5%), PB Fintech Ltd. (1,841.40, 5.8%) and GlaxoSmithKline Pharmaceuticals Ltd. (3,420, 5.4%).

Downers:

Largecap and midcap losers today include Cholamandalam Investment & Finance Company Ltd. (1,512.70, -3.4%), Alkem Laboratories Ltd. (4,868.50, -2.6%) and Suzlon Energy Ltd. (66.72, -2.1%).

Movers and Shakers

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

Top high volume gainers on BSE included Ircon International Ltd. (220.46, 13.7%), Swan Energy Ltd. (449.20, 9.0%) and Rail Vikas Nigam Ltd. (429.95, 6.5%).

Top high volume losers on BSE were Sun Pharma Advanced Research Company Ltd. (156.83, -19.7%), Aditya Birla Fashion and Retail Ltd. (76.77, -10.7%) and Kaynes Technology India Ltd. (5,737.50, -0.9%).

SKF India Ltd. (4,776, 3.0%) was trading at 6.2 times of weekly average. Aether Industries Ltd. (775.20, 3.9%) and Aster DM Healthcare Ltd. (582.85, 5.6%) were trading with volumes 4.3 and 4.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

14 stocks took off, crossing 52 week highs, while 3 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - CCL Products India Ltd. (889.60, -0.2%), Fortis Healthcare Ltd. (738.85, 1.3%) and GlaxoSmithKline Pharmaceuticals Ltd. (3,420, 5.4%).

Stocks making new 52 weeks lows included - Aditya Birla Fashion and Retail Ltd. (76.77, -10.7%) and Sheela Foam Ltd. (626, 0.4%).

14 stocks climbed above their 200 day SMA including Ircon International Ltd. (220.46, 13.7%) and Rail Vikas Nigam Ltd. (429.95, 6.5%). 20 stocks slipped below their 200 SMA including Sun Pharma Advanced Research Company Ltd. (156.83, -19.7%) and Star Health and Allied Insurance Company Ltd. (467.10, -1.2%).

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The Baseline
04 Jun 2025
Largecaps to see new entries and exits, with reclassification | Screener: Stocks outperforming in ROE
By Swapnil Karkare

What’s a blockbuster movie? In 2019, a Rs. 475 crore box office collection made a film the year’s biggest hit. Fast forward to 2024, and the bar is much higher. The top grosser, Pushpa Part 2,raked in Rs. 1,755 crore.

That’s also what has happened in the case of stock markets. The definition of a large-cap stock has moved up. 

AMFI classifies 'largecaps' as the top 100 companies by market capitalisation, regardless of the value. Back in 2019, the large-cap threshold was Rs 25,000 crore. Today, it’s Rs 1 trillion.

"With the ongoing bull run, these thresholds are continuously breaking records, setting new highs with every semi-annual review," notes Nuvama. 

AMFI reclassifies stocks twice a year. Some stocks move up the ladder – from small to mid-caps, and from mid to large caps. They also get reclassified downward. 

The announcements come in early January (for changes effective February 1) and again in early July (effective August 1). The cut-off dates are December 31 and June 30, respectively, and mutual funds have about a month after that to rebalance their portfolios accordingly. 

Does this classification matter? That’s what we look at in today’s piece.


A screenshot of a social media post

AI-generated content may be incorrect.

In this week's Analyticks:

  • Last year's winner, this year's loser: Stocks moving in and out of the largecap list
  • Screener: Companies outperforming their 3-year average RoE, and beating the industry

Additions to the largecaps: from IPO giants to multibaggers

The December 2024 cut-off highlighted how IPO giants can quickly ascend into the large-cap space. Hyundai, Swiggy, Bajaj Housing Finance, and NTPC Green Energy entered the largecap club right after listing.

Strong price action helped stocks like RVNL make the cut. RVNL has been a standout performer in the railway space, thanks to its strong fundamentals and large government contract wins. The stock tripled between January and July 2024, and has also secured its place in the MSCI Emerging Market and MSCI India Domestic indexes.

Another addition, Info Edge also made waves, benefitting from better hiring trends, AI-led productivity gains, and Jeevansathi and 99acres showing signs of breakeven. It also got upgraded by Goldman Sachs and Bank of America.

Banks fall off the large-cap list

But this is a zero-sum game. For every winner, there's a loser, for every upgrade, a downgrade. This time, the casualties have included public sector banks and even a few financially sound players.

Public sector bank stocks have been hit by profit booking, weak deposit growth, SBI’s downgrade by Goldman Sachs, and exposure concerns tied to the Vodafone Idea AGR dues and Adani’s legal battles.

Elara Securities says, “We believe PSBs might not be able to drive their returns further, and, at best, may sustain earnings. So there would be limited scope of rerating and it would be relatively slow.”

IndusInd Bank’s demotion to mid-cap came after a sharp 35% decline in shares between September and December 2024, after weak Q2FY25 results. The fall worsened in March 2025 after a Rs. 1,500 crore discrepancy in its derivative accounts (2.35% of its net worth) came to light. This triggered a 27% single-day crash in its stock prices and a dip in mutual fund holdings from 30% in December 2024 to 28% in March 2025.

Additionally, some fundamentally strong companies have exited the large-cap category, not due to poor financial health but from high valuations and sluggish momentum.

Buy the rumour, sell the news

With reclassification, stocks don't always behave the way you'd expect. We looked at the performance across four key periods around the cut-offs: i) a month before the cut-off - when predictions start (e.g. Dec 2024), ii) a month after cut-off - when changes are announced but not yet implemented (Jan 2025), iii) one month post-inclusion (Feb 2025), and iv) two months post-inclusion - when mutual fund rebalancing is mostly done (Mar 2025)

Stocks that were expected to be included usually rallied before the cut-off. Market whispers and analyst predictions also drive this pre-cut-off surge. For instance, IRFC surged 33% in December 2023, Motherson gained 26% in June 2024, and Swiggy climbed 15% in December 2024—one of the few stocks posting gains during that cycle.

But once the changes are in place, the momentum fades, partly due to profit booking. For example, IRFC fell 16% after its inclusion and lost another 3% two months later. 

Many of these stocks bounce back in price about two months post-inclusion, due to company-specific news or mutual fund rebalancing. The saying “Buy the rumour, sell the news” fits large-cap changes perfectly.

Not all is lost for stocks falling off the list

Surprisingly, stocks which dropped out of the large-cap list have also rallied a month before the reclassification. Sometimes even bad news can trigger short-term gains — possibly due to short covering, value buying, or repositioning ahead of the reshuffle.

However, once exclusion becomes official, stocks tend to decline in the immediate aftermath. Despite this, historical trends suggest that many bounce back within two months, as valuations get cheaper. Thus, the impact of a downgrade can be temporary. 

Fundamentals matter

Market cap labels alone don’t drive stock prices. Business fundamentals matter. Since the cut-off dates often coincide with earnings seasons, financial results play a crucial role. 

Take the case of Swiggy. Despite its oversubscribed IPO, its stock prices fell post-inclusion, largely due to disappointing Q3FY25 results. Its consolidated loss widened by 39% YoY, impacted by growing competition and tough macroeconomic conditions.

Zydus Lifesciences saw a 14% contraction following its inclusion in the June 2024 large-cap list, despite a 31% net profit jump in Q1. Citi maintained caution, noting that a few niche drugs drove the US sales growth in previous quarters and that it is not sustainable, reinforcing its ‘sell’ rating.

On the flip side, stock prices of Bosch and ICICI General Insurance rose despite being downgraded to midcap. Bosch reported 62% jump in net profit in Q3FY24 on fueled by robust auto components growth, while ICICI Lombard outperformed its peers and delivered 49% YoY profit increase in Q1FY25. 

Who’s next?

Ahead of the August reshuffle, the market is already keeping a close watch on the predictions. Here are the names making waves and the ones at risk.

Nuvama estimates 11 stocks, such as Indian Hotels, Mazagon Dock, Solar Industries, and Dixon Technologies, that might make up a grand entry, thanks to their solid market cap growth, sectoral tailwinds and institutional backing. 

Indian Hotels continues to ride the hospitality sector’s recovery, with Motilal Oswal optimistic about its momentum, strong demand, higher rates, and better occupancy driving the surge.

Mazagon Dock’s case reflects the growing focus on defence and shipbuilding. Nirmal Bang forecasts a 4x surge in order book, expanding margins, and a 25% stock price upside.

Meanwhile, names like Swiggy, RVNL, Polycab, NTPC Green, etc., might face a downgrade. Newly listed firms such as Swiggy and NTPC Green often face selling pressure in the post-lock-in expiry. Swiggy, in particular, has struggled to keep up its stock prices this year amid stiff competition.

Polycab faces intense competition from new players like Ultratech and Adani, adding pressure to its stock prices. 

RVNL, on the other hand, was among the top 10 large-cap stocks sold by mutual funds in March this year, largely due to high valuations. Seema Srivastava of SMC Global Securities remarked, "RVNL shares are under pressure, but nothing is wrong with the company's fundamentals."

It's time to rethink how we think about largecaps

India's market is evolving, and maybe the classification system should too.

Back in 2019, the large-cap threshold was Rs 25,000 crore. Today, it’s Rs 1 trillion. This calls for a fresh approach.

Ajay Garg of Equirus proposes using market cap-based classification, like in the US, instead of ranks. The US sets a floor of $10 billion for largecaps, offering a more stable benchmark. India can similarly do this at say, Rs. 1 trillion, instead of doing a top 100. This way, Garg adds, “The number of stocks with institutional interest could expand to 650-700 and broaden the market.”

Garg also proposes a six-month transition to avoid market disruption and improve fund managers’ flexibility. This would help in including newly listed companies after going through a lock-in period and a value discovery process. 


Screener: Companies outperforming their 3-year average RoE and outpacing industry peers

GSK Pharma, Dixon among top ROE outperformers

As the FY25 results season ends, we look at companies with high annual returns on equity (RoE) growth. This screener shows stocks with RoE above their 3-year average and higher than their industry peers. 

The screener consists of stocks from the aluminium & aluminium products, pharmaceuticals, realty, consumer electronics, roads & highways, and industrial machinery industries. Major stocks in the screener are Page Industries, ITC, GlaxoSmithKline Pharmaceuticals, Dixon Technologies, Vedanta, GE Vernova T&D India, Premier Energies, and IRB Infrastructure.

Page Industries’ FY25 RoE stands at 51.8%, outperforming the other apparel & accessories industry by 20.5 percentage points. The company also outperformed the 3-year average RoE of 43%. Its 28.1% net profit growth during the year (beating the growth rates in FY23 and FY24) helped with RoE outperformance. Lower raw material and inventory expenses due to reduced inflation drove profitability.

GlaxoSmithKline Pharmaceuticals also features in the screener with an RoE of 47.5% in FY25, outperforming the pharmaceuticals industry by 29.6 percentage points. The company also beat its 3-year average RoE of 38.8%. RoE outperformance was driven by a 56.1% net profit growth, rebounding from declines in FY23 and FY24. Improvement in product mix to products with higher margins, improvement in productivity and lower raw material expenses due to a reduction in inflation drove profitability.

You can find some popular screeners here.

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The Baseline
04 Jun 2025
By Omkar Chitnis

In volatile markets, dividends offer something rare: predictability. For many investors, they’re a steady source of income amid the noise. While some chase gains from rising stock prices, other investors prefer the comfort of regular income through dividend paying stocks. 

Public Sector Undertakings (PSUs) have long been a favourite among investors for this steady return. Backed by the government and known for consistent cash flows, PSUs like Coal India, ONGC, BPCL, and REC often lead the pack when it comes to dividend payouts. 

Sectors like Metals & Mining (2.6%), Food & Beverages (2.4%), Oil & Gas (1.7%), and Banking & Finance (0.8%) currently offer the highest dividend yields.

For governments, dividends from public sector companies help fund everything from highways to healthcare. In FY24 alone, the Indian government received a hefty Rs 74,020 crore in dividend income. Now, to boost its non-tax revenue, it’s reportedly nudging Public Sector Undertakings (PSUs) to increase their payouts by nearly 25% by FY26.

The government is also urging private companies to be more generous with dividends. Arunish Chawla, Secretary of the Department of Investment and Public Asset Management, recently said, “We will also nudge private corporations to declare fair dividends for their minority shareholders so that together, we can make our stock market a more inclusive and rewarding space for the common investor.”

As the Q4FY25 earnings season is almost over, companies are announcing both results and corporate actions—bonus issues, stock splits, and dividends.  In this edition of Chart of the Week, we will look into sectors and companies with the highest 1-year dividend yield over the past year. Dividend yield shows how much income investors earn from dividends compared to the current stock price.

Lower crude prices boost oil & gas dividends

The Oil and Gas sector is sensitive to crude oil price fluctuations, geopolitical tensions, economic policy shifts, and changes in global demand. Despite this, oil and gas companies maintained stable margins and cost control in the past year.

In FY25, the sector delivered a dividend yield of 1.7%. Leading the pack,  Chennai Petroleum Corporation, Castrol India, and Oil and Natural Gas Corporation reported yields of 8.4%, 5.9%, and 5.7%, respectively. However, it is important to note that four of the six companies’ share prices have fallen in the past year. 

Bharat Petroleum Corporation's dividend yield increased by 50 basis points to 4.9% in FY25. The company’s margins rose, supported by crude oil prices falling to $60, and the Organization of the Petroleum Exporting Countries (OPEC+) plans to increase output. Both factors boosted profitability and dividends, while its share price remained flat over the past year.

Castrol India holds a 38.7% share in the four-wheeler lubricant market. It raised its dividend from Rs 5.5 in FY20 to Rs 13 in FY25, translating to a 6.6% yield at the current market price. In FY25, net profit rose 7.3%, driven by growth in the automotive lubricants segment and stronger rural demand, and its stock price is up 13% over the past year.

The company distributes 85% of its profits as dividends. Its lubricants business requires low capital investment, and steady demand from automotive and industrial segments allows it to return surplus profit to shareholders.

Chennai Petroleum Corporation, a subsidiary of Indian Oil Corporation, also maintains a strong dividend track record. The company raised its dividend from Rs 2 in FY22 to Rs 55 in FY25, fueled by higher profits. 

However, in FY25, its operating margin fell and gross refining margins dropped to 51.2% due to weaker refining margins. Revenue declined 10% and net profit fell 92.2% due to inventory losses and rising debt. These factors contributed to a 29% decline in share price over the past year.

ITC dividend yield rises as it demerges its hotel business

Food, Beverages & Tobacco company ITC announced its highest dividend in five years at Rs 21.8 per share for FY25. Revenue grew 5.7%, driven by growth in the agri-business and tobacco segments. Profit surged 69.8%, mainly due to exceptional income from the demerger of ITC’s hotel business. 

Despite this, the company’s share price declined 2.5% over the past year following British American Tobacco’s sale of a 2.5% stake and weak growth in the paperboards and FMCG segments. By FY26, the company expects to generate Rs 2,350 crore in export revenue from nicotine and its derivatives.

In FY25, the company distributed 50.7% of its profit as dividends, driven by strong cash flows, stable profit margins from its tobacco business, and low capital expenditure needs. With limited reinvestment requirements, ITC returns surplus cash to shareholders through dividends.

HCL, Infosys lead dividend rally in the IT sector

The trends appear similar among software and services companies that generate steady cash flow and incur relatively lower capital expenditures. With limited opportunities for reinvestment and expansion compared to other sectors, large-cap firms such as HCL Technologies, Infosys, Tata Consultancy Services, Tech Mahindra, and LTIMindtree prioritise rewarding shareholders through dividends. All three stocks saw share price gains in the past year.

HCL Technologies, the third-largest Information Technology (IT) company by market capitalization, has a dividend yield of 3.6%, and its share price increased by 23.2% over the past year. In FY25, the company paid an interim dividend of Rs 12 per share to mark 25 years of listing in January 2025. The total dividend for the 12 months stood at Rs 60 per share.

The company distributed 95.2% of its net income as dividends, and the total dividend paid increased by 13.3% in FY25, supported by higher profits and strong operating cash flows.

In FY25, Infosys declared its highest dividend in nearly a decade of Rs 71 per share, delivering a dividend yield of 2.7%. This performance was driven by a higher free cash flow of Rs 33,918 crore, up 41.8% YoY, and amid moderate guidance for FY26, its stock has gained 10% over the past year.

Oracle Financial Services Software reported a dividend per share of Rs 265, driven by a 7.2% rise in profit and double-digit revenue growth in its license and cloud segment. Its share price also gained 11.5% over the last year.

Vedanta shifts gears: cuts dividend to fund expansion and reduce debt

The Metals and Mining sector has a dividend yield of 2.6%. Vedanta, Coal India, and NMDC have the highest dividend payouts in this sector, with yields of 7.4%, 6.7%, and 3.9%, respectively. However, all three companies’ share prices have declined in the past year. 

Vedanta, India’s only nickel producer,has declared a dividend of Rs 43.5 per share for FY25, down from Rs 50 in FY24. Its share price has declined 3.6% over the year. Analysts at Citi expect the dividend to drop to Rs 34 in FY26, as the company retains cash for the demerger and semiconductor projects.

In FY26, the company plans to reduce its debt by $0.6 billion and invest between $1.5 billion and $1.7 billion in its aluminum, zinc, and oil and gas businesses. Ajay Goel, Vedanta's Group CFO, notes, “We are eyeing a 20% uptick in profitability in FY26, driven by a combination of higher volumes and improved cost efficiencies.”

Coal India accounts for 80% of India’s coal production in FY25 and has a dividend yield of 6.6%, with the company paying out 46% of its profit as dividends. The company’s revenue has grown at a CAGR of 16.2% over the past five years, while net profit rose 8.4%. Coal India plans to develop 36 new coal mining projects to boost production capacity in the next five years.

Over the past year, Coal India faced lower sales volumes and earnings due to weak global coal prices and slower demand from the power sector. These factors pushed its share price down by 20.3%.

National Aluminium Company (NALCO) raised its dividend payout to Rs 10 in FY25, driven by a 164% jump in profit due to higher alumina prices and increased export volumes to Southeast Asia and the Middle East.

However, alumina price volatility and weaker demand from China have squeezed NALCO’s profit margins, causing its share price to drop 4.7% over the past year despite strong earnings growth.

Meanwhile, the banking and financial services sector had an overall dividend yield of 0.8% in FY25. The top dividend payers in this sector are REC, UTI Asset Management Company, and Power Finance Corporation, with yields of 5%, 4%, and 3.9%, respectively.