Trendlyne Marketwatch
Trendlyne Marketwatch
02 Apr 2025, 04:00PM
Market closes higher, Quess Corp sets April 15 as the record date for its demerger
By Trendlyne Analysis

 

Nifty 50 closed at 23,332.35 (166.7, 0.7%) , BSE Sensex closed at 76,617.44 (592.9, 0.8%) while the broader Nifty 500 closed at 21,265.65 (194.9, 0.9%). Market breadth is overwhelmingly positive. Of the 2,430 stocks traded today, 1,761 were in the positive territory and 632 were negative.

Indian indices closed in the green. The Indian volatility index, Nifty VIX, fell 0.4% and closed at 13.7 points. Bharat Electronics closed lower as it missed the Rs 25,000 crore order inflow guidance for FY25. The company secured orders worth Rs 18,715 crore during the year, achieving only 75% of the target.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher, following the benchmark index. Nifty Realty and Nifty Consumer Durables closed in the green. According to Trendlyne’s sector dashboard, Textiles Apparels & Accessories emerged as the best-performing sector of the day, with a rise of 3.4%.

European indices are trading flat or lower. Major Asian indices closed mixed. US index futures are trading lower, indicating a negative start to the session. President Trump is set to announce the "Liberation Day" tariffs later today. White House Press Secretary Karoline Leavitt said the measures will take effect immediately.

  • Relative strength index (RSI) indicates that stocks like Coromandel International, Grasim Industries, and RHI Magnesita are in the overbought zone.

  • Godrej Properties rises as it sells over 275 homes worth Rs 2,000 crore in its Noida project, Godrej Riverine, spanning 6.5 acres.

  • GPT Infraprojects rises sharply as it bags a Rs 481.1 crore order from South Eastern Railway, Kolkata, to construct a bridge over the Rupnarayan river.

  • Dixon Technologies is rising as Kotak Institutional Equities upgrades its rating to ‘Add’ from ‘Reduce’ and raises the target price to Rs 15,000. The brokerage expects Dixon to be a key beneficiary of India's Rs 23,000 crore PLI scheme for electronics component manufacturing. It projects a 132% YoY revenue increase in Q4FY25, driven by higher mobile segment demand.

  • Vimal Kejriwal, Managing Director of KEC International, expects the company’s order book to grow by 15% next year, surpassing Rs 34,000 crore. He sees a strong outlook for the company’s T&D international segment, which accounts for 72% of orders. Kejriwal anticipates margins for FY26 between 8-9% and adds that legacy projects are expected to be completed by FY25.

  • Motilal Oswal reiterates its ‘Buy’ rating on Hindalco Industries with a target price of Rs 770 per share. This indicates a potential upside of 16.7%. The brokerage notes that Hindalco and its arm, Novelis, are investing $10 billion in capacity expansion. The company is executing $5.2 billion projects in India, while Novelis adds 800 kilotonnes (KT) globally, including a $4.1 billion facility, ensuring future revenue visibility.

  • Quess Corp rises sharply as its board sets April 15 as the record date for its demerger into three separate entities - Quess Corp, Digitide Solutions and Bluspring Enterprises.

  • Baazar Style Retail surges as its revenue grows 55% YoY to Rs 345.6 crore in Q4FY25. The company’s same-store sales growth (SSSG) stands at 20%. It adds 15 new stores during the quarter, taking the total store count to 214.

  • Paras Defence and Space Technologies signs a memorandum of understanding (MoU) with MicroCon Vision (MicroCon), Israel. This involves designing, developing, producing, and marketing Intelligence, Surveillance & Reconnaissance (ISR) payloads and EO/IR (Electro-Optical/Infra-Red) Seekers for drones and unmanned aerial vehicles.

  • Zomato rises as it reportedly lays off nearly 600 customer support associates amid slowing food delivery growth and losses in its quick commerce unit, Blinkit. The company plans to automate customer support using AI to reduce costs.

  • MOIL is rising as it revises manganese ore prices from April 1. The company raises ferro-grade ore (Mn 44% and above) prices by 3% and lower grades by 0.5%. It also hikes chemical-grade manganese ore prices by 3%.

  • L&T Technology Services is rising as it signs a €50 million (approx Rs 463 crore) deal with a European automotive original equipment manufacturer (OEM). This involves developing and operating software platforms for current and upcoming vehicle models.

  • India’s manufacturing PMI rises to an 8-month high of 58.1 in March, up from 56.3 in February, driven by strong customer interest, favourable demand conditions, and successful marketing strategies.

  • Bernstein initiates coverage on Waaree Energies with an 'Underweight' rating and a target price of Rs 1,902. The brokerage cites higher valuations and competitive pressures from larger peers. It also expects earnings growth to moderate after FY27.

  • V-Mart Retail rises sharply as its total sales grow 17% YoY to Rs 780 crore in Q4FY25, driven by an 18% YoY increase in V-Mart’s store sales. Its same-store sales growth (SSSG) stands at 8%. However, the company's LimeRoad digital marketplace sales (commission income charged from sellers) falls 47% YoY to Rs 8 crore during the quarter.

  • CSB Bank rises sharply as its total deposits grow 24% YoY to Rs 36,861 crore, while gross advances increase 29.6% YoY to Rs 31,843 crore in Q4FY25.

  • BofA downgrades Nestle India and HUL to 'Underperform' and 'Neutral'. The brokerage believes modest business trends, high stock valuations, sluggish growth, rising costs, and increasing competition are weighing on performance. It adds that Nestlé is undergoing a strategy refresh under new leadership, bringing uncertainty, while HUL grapples with a challenging operating environment.

  • Hyundai Motor India's total sales grow 2.6% YoY to 67,320 units in March, helped by a 23% YoY increase in exports. Meanwhile, the company's sales decline 2% YoY during FY25.

  • Bharat Electronics falls sharply as it misses the Rs 25,000 crore order inflow guidance for FY25. The company secures orders worth Rs 18,715 crore during the year.

  • Pidilite Industries is rising as its board of directors appoints Sudhanshu Vats as its Managing Director, succeeding Bharat Puri, effective April 10.

  • Goldman Sachs upgrades Tata Consumer Products to a 'Buy' rating with a higher target price of Rs 1,200. The brokerage expects strong earnings per share (EPS) growth over FY25-27, driven by a recovery in tea margins from price hikes. Although competitive pressures in the FMCG sector persist, it believes the worst is over for the company, positioning it for future growth.

  • Syngene International’s board of directors appoints Peter Bains as its Managing Director (MD) and Chief Executive Officer (CEO), for two years, effective April 1.

  • Adani Ports and Special Economic Zone handles 41.5 million metric tonnes (MMT) of cargo in March, primarily driven by an increase in containers (19% YoY) and liquids & gas (5% YoY). For FY25, the company's cargo volume rises 7% YoY to 450.2 MMT.

  • Coal India announces a Rs 10 per tonne price hike for coking and non-coking coal, effective April 16.

  • Tata Motors falls as its total domestic wholesales decline marginally by 0.3% YoY to 90,500 units in March due to a 3% YoY drop in commercial vehicle sales. The company's FY25 sales decline 4% YoY.

  • Nifty 50 was trading at 23202.80 (37.1, 0.2%) , BSE Sensex was trading at 76146.28 (121.8, 0.2%) while the broader Nifty 500 was trading at 21050.90 (-19.9, -0.1%)

  • Market breadth is in the red. Of the 1952 stocks traded today, 650 were gainers and 1256 were losers.

Riding High:

Largecap and midcap gainers today include Tata Consumer Products Ltd. (1,062.70, 7.1%), Macrotech Developers Ltd. (1,218.45, 5.3%) and Godrej Properties Ltd. (2,146.80, 5.2%).

Downers:

Largecap and midcap losers today include Central Bank of India (36.86, -10.8%), UCO Bank (30.04, -3.7%) and Bajaj Holdings & Investment Ltd. (11,515.10, -3.3%).

Volume Shockers

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

Top high volume gainers on BSE included Kalyan Jewellers India Ltd. (511.10, 11.6%), KPR Mill Ltd. (960.35, 7.6%) and Tata Consumer Products Ltd. (1,062.70, 7.1%).

Top high volume losers on BSE were Punjab & Sind Bank (30.51, -12.5%) and Central Bank of India (36.86, -10.8%).

Quess Corp Ltd. (685.80, 3.9%) was trading at 28.5 times of weekly average. Bombay Burmah Trading Corporation Ltd. (1,889.20, 6.9%) and Century Plyboards (India) Ltd. (708.15, 1.3%) were trading with volumes 7.8 and 6.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

2 stocks overperformed with 52 week highs, while 12 stocks hit their 52 week lows.

Stocks touching their year highs included - Chambal Fertilisers & Chemicals Ltd. (634.20, 2.1%) and Aavas Financiers Ltd. (2,085, -0.1%).

Stocks making new 52 weeks lows included - Central Bank of India (36.86, -10.8%) and Colgate-Palmolive (India) Ltd. (2,364.60, 0.6%).

14 stocks climbed above their 200 day SMA including KPR Mill Ltd. (960.35, 7.6%) and Tata Consumer Products Ltd. (1,062.70, 7.1%). 16 stocks slipped below their 200 SMA including Bharat Electronics Ltd. (282.40, -3.3%) and Mankind Pharma Ltd. (2,421.90, -1.5%).

 
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