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

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Riding High:

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

Downers:

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

Movers and Shakers

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

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

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

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

BSE 500: highs, lows and moving averages

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

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

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

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

 
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