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

 

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Riding High:

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

Downers:

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

Movers and Shakers

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

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

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

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

BSE 500: highs, lows and moving averages

21 stocks hit their 52 week lows.

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

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

 
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