Trendlyne Marketwatch
Trendlyne Marketwatch
16 Apr 2025
Market closes higher, Yes Bank receives a Rs 244.2 crore tax demand for AY16-17
By Trendlyne Analysis

 

Nifty 50 closed at 23,437.20 (108.7, 0.5%) , BSE Sensex closed at 77,044.29 (309.4, 0.4%) while the broader Nifty 500 closed at 21,404.35 (125.0, 0.6%). Market breadth is surging up. Of the 2,441 stocks traded today, 1,682 were in the positive territory and 718 were negative.

Indian indices closed higher after erasing losses in the afternoon session. The Indian volatility index, Nifty VIX, declined 1.6% and closed at 15.9 points. IREDA closed 5.7% higher as its Q4FY25 revenue grew 37.5% YoY to Rs 1,914.7 crore, while net profit surged 48.7% to Rs 501.6 crore. The company’s net NPA improved to 1.3% in FY25 from 1.5% in FY24.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, following the benchmark index. Nifty Media and Nifty PSU Bank were the best-performing indices of the day. According to Trendlyne’s sector dashboard, Telecommunication Equipment emerged as the best-performing sector of the day, with a rise of 2.4%.

European indices are trading lower, except Russia’s RTSI and MOEX indices, which are trading 0.8% higher each. Major Asian indices closed in the red, except Sri Lanka’s CSE All Share and Thailand’s SET indices, which closed 1.2% and 0.9% higher. US index futures are trading in the red, indicating a cautious start to the session following the US Commerce Department’s decision to impose restrictions on exports of AI chips to China.

  • Relative strength index (RSI) indicates that stocks like Tata Consumer Products, Pidilite Industries, Britannia Industries, and Solar Industries are in the overbought zone.

  • Optiemus Infracom rises as its subsidiary, Optiemus Electronics, partners with Realme to manufacture next-generation Artificial Intelligence of Things (AIoT) products in India, targeting 5 million units annually.

  • KFIN Technologies is rising as it incorporates a wholly-owned subsidiary in Singapore to acquire a 51% stake in Ascent Fund Services (Singapore) for $34.7 million (approximately Rs 296.9 crore). The company plans to acquire the remaining 49% stake by 2030.

  • Poly Medicure rises sharply as the US imposes up to 245% tariffs on Chinese medical equipment imports. The company generates 70% of its revenue from the export market.

  • Lupin and Zydus Lifesciences fall sharply after losing a US Federal Court patent case on Myrbetriq, a medicine to treat overactive bladder, to Astellas Pharma. Both companies generate quarterly sales of between $30-35 million from Myrbetriq in the US market.

  • Yes Bank receives a Rs 244.2 crore additional tax demand following a reassessment rectification order passed by the Jurisdictional Assessing Officer (JAO) for the Assessment Year (AY) 2016–17.

  • Hindustan Oil Exploration Company rises as it secures a block under the 2024 small fields bid round. The Mumbai offshore block spans 332.4 sq km, taking the company's total acreage to over 800 sq km.

  • India and the US are reportedly set to begin in-person talks on a proposed bilateral trade agreement next month, following virtual discussions this week. Efforts are underway to finalize the first tranche quickly. Meanwhile, an import monitoring cell closely tracks potential import surges from China, Vietnam, and Indonesia amid concerns over dumping in response to US tariffs.

  • Gallantt Ispat rises to a new all-time high of Rs 470.5 as its board approves a Rs 1,105 crore expansion plan to increase production capacity at its integrated steel plants in Gorakhpur, including a new solar power plant.

  • Dolly Khanna adds GHCL to her portfolio in Q4FY25, acquiring a 1% stake in the company.

  • Motilal Oswal reiterates its ‘Buy’ rating on ABB India with a target price of Rs 6,700 per share. The brokerage believes ABB is better placed than its peers due to its over 50% exposure to high and moderate growth segments and its strong position to benefit from increased exports. It expects an EBITDA margin of 18.3% for CY25.

  • Ericsson’s global CEO and President, Börje Ekholm, says a financially stronger Vodafone Idea will boost competition in India’s telecom market. With recent deals from Bharti Airtel and Vodafone Idea, he sees strong long-term prospects. He adds that 6G deployment is expected by 2030, with standardization starting next year, and Ericsson is well-prepared with significant investments.

  • Gensol Engineering falls sharply as the Securities and Exchange Board of India (SEBI) bars its promoters, Anmol Singh Jaggi and Puneet Singh Jaggi, from directorship positions and accessing the equity market for alleged fund diversion and record falsification.

  • PB Fintech rises as its subsidiary, PB Pay, gets the Reserve Bank of India's (RBI) in-principle nod to operate as an online payment aggregator (platform enabling merchants to accept digital payments).

  • JBM Auto and Olectra Greentech rise sharply as the Ministry of Heavy Industries plans to launch a tender to procure 10,000 electric buses under the PM E-DRIVE Scheme in May 2025

  • Jefferies names JSW Infrastructure and Adani Ports & SEZ as top picks among private port players, expecting strong margins from volume growth. It notes the government aims for 80% private sector presence in major ports by 2030, with 95% of capacity expansion planned privately. About 500 million tonnes of capacity still awaits privatization, offering major opportunity for these players.

  • Mahanagar Gas is falling as its allocation of Administrative Price Mechanism (APM) natural gas for domestic PNG and CNG (transport) segments reduces by 18%, effective April 16. The shortfall will be replaced with New Well/Well Intervention Gas (NWG).

  • IndusInd Bank receives a report on Tuesday highlighting a Rs 1,979 crore impact from derivative accounting discrepancies, representing 2.27% of its net worth as of December 31. The bank plans to consider this in its FY25 results.

  • Axis Bank is rising as it cuts savings account interest rate by 25 basis points to 2.75%, effective April 15. The bank's board of directors schedules a meeting for April 24 to consider a proposal to raise funds via the issue of equity shares or debt.

  • Ministry of Steel Secretary, Sandeep Poundrik, confirms that a safeguard duty on steel imports will be introduced soon. He dismisses rumours of a 20% hike as unfounded. He expects steel consumption to grow over 10% and clarifies there are no plans for a mega-merger between SAIL, RINL, and NMDC Steel.

  • IREDA rises sharply as its Q4FY25 revenue grows 37.5% YoY to Rs 1,914.7 crore, while net profit surges 48.7% to Rs 501.6 crore. The company’s net NPA improves to 1.3% in FY25 from 1.5% in FY24.

  • Oil India is rising as it secures nine blocks under the Open Acreage Licensing Policy (OALP) Round IX, adding over 51,000 sq. km to its exploration portfolio. With this addition, the company’s total exploration acreage increases from 60,000 sq km to 1,10,000 sq km, an 85% growth.

  • ICICI Lombard General Insurance is falling as its net profit drops 1.9% YoY to Rs 509.6 crore in Q4FY25, driven by higher commissions and brokerage expenses. However, revenue increases 12.8% YoY to Rs 6,051.2 crore during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • ICICI Prudential Life Insurance's Q4FY25 net profit surges 1.2X YoY to Rs 385.3 crore, driven by a growth of 10.7% YoY in net premium income. However, revenue decreases 30.2% YoY to Rs 15,687.3 crore during the quarter. The company appears in a screener of stocks with increasing profits every quarter for the past four quarters.

  • Nifty 50 was trading at 23,282.85 (-45.7, -0.2%), BSE Sensex was trading at 76,996.78 (261.9, 0.3%) while the broader Nifty 500 was trading at 21,260.50 (-18.9, -0.1%).

  • Market breadth is ticking up strongly. Of the 1,955 stocks traded today, 1,385 were on the uptick, and 531 were down.

Riding High:

Largecap and midcap gainers today include IndusInd Bank Ltd. (788.25, 7.1%), Indian Renewable Energy Development Agency Ltd. (176.39, 5.6%) and Indian Bank (568.15, 5.0%).

Downers:

Largecap and midcap losers today include Zydus Lifesciences Ltd. (822.10, -6.9%), Lupin Ltd. (1,934.20, -3.9%) and Sona BLW Precision Forgings Ltd. (446.80, -3.4%).

Movers and Shakers

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

Top high volume gainers on BSE included JBM Auto Ltd. (694.75, 11.2%), Gujarat Mineral Development Corporation Ltd. (315, 9.8%) and Engineers India Ltd. (183.72, 8.5%).

Top high volume losers on BSE were Zydus Lifesciences Ltd. (822.10, -6.9%) and Mahanagar Gas Ltd. (1,252.40, -4.8%).

Aegis Logistics Ltd. (806.30, 5.3%) was trading at 12.0 times of weekly average. Olectra Greentech Ltd. (1,232, 4.4%) and Indian Renewable Energy Development Agency Ltd. (176.39, 5.6%) were trading with volumes 8.4 and 8.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

9 stocks took off, crossing 52 week highs, while 1 stock were underachiever and hit their 52 week lows.

Stocks touching their year highs included - Bharti Airtel Ltd. (1,822.60, 1.3%), Chambal Fertilisers & Chemicals Ltd. (655.20, -1.3%) and Eicher Motors Ltd. (5,600, 1.3%).

Stock making new 52 weeks lows included - Sheela Foam Ltd. (652.80, 0.4%).

39 stocks climbed above their 200 day SMA including Anupam Rasayan India Ltd. (796, 5.8%) and Aegis Logistics Ltd. (806.30, 5.3%). 1 stock slipped below their 200 SMA including Nestle India Ltd. (2,383.30, 0.7%).

 
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