Trendlyne Marketwatch
Trendlyne Marketwatch
17 Apr 2025
Market closes higher, HDFC AMC's net profit beats Forecaster estimates by 8%
By Trendlyne Analysis

 

Upbeat trading today. Nifty 50 closed at 23,851.65 (414.5, 1.8%), BSE Sensex closed at 78,553.20 (1,508.9, 2.0%) while the broader Nifty 500 closed at 21,681.55 (277.2, 1.3%). Market breadth is in the green. Of the 2,441 stocks traded today, 1,467 were on the uptick, and 924 were down.

Indian indices closed higher after paring losses in the afternoon session. The Indian volatility index, Nifty VIX, fell 2.7% and closed at 21.4 points. Waaree Renewable Technologies closed 9.3% higher as its revenue increased 74.4% YoY to Rs 476.6 crore during the quarter, driven by higher sales from the EPC contracts segment.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher. S&P BSE BANKEX and Nifty Financial Services Indices were among the top index gainers today. According to Trendlyne’s sector dashboard, Fertilizers emerged as the best-performing sector of the day, with a rise of 4.3%.

Asian indices closed in the green. European indices are trading in the red. US index futures are trading higher, indicating a positive start to the trading session amid growing hopes of a tariff deal between the US and its key trading partners. Brent crude futures are trading higher due to supply concerns after the US imposed new sanctions on Iran’s oil exports.

  • Hindustan Zinc sees a long buildup in its April 24 futures series, with open interest increasing by 19.1% and a put-call ratio of 0.4.

  • HDFC Asset Management rises as its Q3FY25 net profit grows by 18.1% YoY to Rs 638.5 crore, beating Forecaster estimates by 8%. Revenue increases by 29.6% YoY, helped by higher assets under management (AUM). It features in a screener of stocks with increasing net profit and profit margin (QoQ).

  • Dalmia Bharat's wholly-owned subsidiary, Dalmia Cement (DCBL), receives a provisional attachment order of Rs 793.3 crore from the Enforcement Directorate (ED) in Hyderabad. The order is related to a 2011 case filed by the Central Bureau of Investigation (CBI) over Dalmia Cement’s investments in Bharathi Cement Corporation.

  • Refex Industries rises as its subsidiary, Refex Green Mobility, exits Bengaluru airport EV taxi services to focus on scalable B2B and B2B2C electric mobility. The shift targets enterprise clients with end-to-end EV transport services and long-term demand.

  • Bengaluru-based real estate developer Prestige Group is reportedly planning to take its hotels business public through a Rs 4,000 crore IPO. The company’s board has approved the IPO plan, and work on the draft red herring prospectus (DRHP) is in advanced stages.

  • Hero MotoCorp is falling as it pauses production at Dharuhera, Gurugram, Haridwar, and Neemrana plants from April 17 to 19 due to short-term supply alignment.

  • Cello World is rising as Kotak Institutional Securities upgrades it to a ‘Buy’ rating but cuts its target price to Rs 710. The brokerage notes that the ramp-up in production capacity will likely weigh on EBITDA margins by 50–100 basis points in the near term. It expects a 12% EPS CAGR over FY25–27.

  • Alembic Pharmaceuticals receives final approval from the US FDA for its abbreviated new drug application (ANDA) for Carbamazepine Tablets. The drug is a therapeutic equivalent of Novartis Pharma’s Tegretol and is used as an anticonvulsant for treating certain types of seizures and bipolar disorder. According to IQVIA, the drug has a market size of $32 million as of 2024.

  • Fitch Ratings cuts India’s GDP growth forecast by 10 bps to 6.4% for the current fiscal, citing risks from a worsening global trade war. Projections for the next year remain unchanged. Fitch flags high US trade policy uncertainty, which is weighing on business investment, reducing household wealth, and hurting US exporters.

  • Ashish Kacholia reveales a 1.9% stake in Quadrant Future Tek during Q4FY25. The company debuted on the stock market in January, with its IPO oversubscribed by 186.7 times.

  • Dolly Khanna buys a 1% stake in Som Distilleries & Breweries in Q4FY25. She now holds a 2.4% stake in the company.

  • SML Isuzu's board appoints Yasushi Nishikawa as the new Managing Director (MD) and Chief Executive Officer (CEO), succeeding Junya Yamanishi, effective April 17.

  • Federal Bank becomes the fourth private lender to cut savings account rates by 25 bps after the RBI's repo rate cut. It reduces the rate on deposits up to Rs 50 lakh to 2.8%. Annual interest rates on deposits between Rs 50 lakh-Rs 5 crore are cut to 3.5%, and Rs 5-50 crore are cut to 5.3%.

  • Suzlon bags 100.8 MW wind order from Sunsure Energy. The company will supply 48 S120 wind turbine generators (WTGs) with hybrid lattice towers (HLT), each rated at a 2.1 MW capacity. The firm shows up in a screener of stocks where FIIs increase stakes in Q4FY25.

  • DLF rises as it signs a master framework agreement (MFA) to sell its Kolkata-based IT/ITeS SEZ (IT/ IT enabled services special economic zone) business to Srijan Group and its subsidiaries for Rs 693 crore. The deal is expected to close within 12 months.

  • MSTC receives a Rs 178.4 crore tax demand from the Income Tax Department for AY 2024-25. The company plans to challenge the assessment and file an appeal before the Commissioner of Income Tax.

  • Goldman Sachs upgrades KEI Industries to 'Buy' call but cuts price target to Rs 2,980. The brokerage cites favourable risk-reward as a key reason for its upgrade. It expects cable and wire companies to benefit from ongoing power and infrastructure capex in the near term, though growth may moderate by FY27.

  • One 97 Communications (Paytm) is falling as its Managing Director and CEO, Vijay Shekhar Sharma, voluntarily gives up all 2.1 crore employee stock options (ESOPs) granted to him under the One 97 Employees Stock Option Scheme, 2019. This results in a one-time, non-cash ESOP expense of Rs 492 crore in Q4FY25, with a corresponding reduction in ESOP expenses in the coming years.

  • Prestige Estates' FY25 sales decline 19% YoY to Rs 17,023 crore, missing the Rs 24,000-Rs 25,000 crore guidance due to delayed launches.

  • IDFC FIRST Bank's board of directors approves a preferential issue of equity capital worth Rs 4,876 crore to Currant Sea Investments, an affiliate of Warburg Pincus, and Rs 2,624 crore to Platinum Invictus, a subsidiary of Abu Dhabi Investment Authority.

  • The United Nations Conference on Trade and Development (UNCTAD) projects India’s economy to grow at 6.5% in 2025, slightly slower than in 2024 but supported by robust public spending and monetary easing. With global growth estimated at 2.3%, UNCTAD expects India to remain the fastest-growing economy. While trade policy uncertainty and food price volatility pose risks, growing South-South economic integration presents key opportunities.

  • Sonata Software falls sharply as the company expects lower international revenue in Q4 FY25 following a decline in business from its largest client. The international segment accounts for 25% of the company’s overall revenue in the December quarter.

  • Angel One is falling as its net profit drops 48.7% YoY to Rs 174.5 crore in Q4FY25. Revenue decreases 22.2% YoY to Rs 1,056 crore, driven by lower fees and commission income during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Waaree Renewable Technologies rises sharply as its net profit grows 73.1% YoY to Rs 93.8 crore in Q4FY25. Revenue increases 74.4% YoY to Rs 476.6 crore during the quarter, driven by higher sales from the EPC contracts segment. The company appears in a screener of stocks with zero promoter pledges.

  • Wipro falls sharply as its Q4 revenue misses Forecaster estimates marginally by 0.4% despite rising 0.8% QoQ to Rs 22,504.2 crore, helped by an improvement in the American market. Net profit grows 6.4% QoQ to Rs 3,569.6 crore, driven by lower inventory, finance, software license, and marketing & brand building expenses. It appears in a screener of stocks with increasing revenue for the past three quarters.

  • Nifty 50 was trading at 23366.90 (-70.3, -0.3%) , BSE Sensex was trading at 76873.23 (-171.1, -0.2%) while the broader Nifty 500 was trading at 21378.30 (-26.1, -0.1%)

  • Market breadth is in the green. Of the 1934 stocks traded today, 1142 were gainers and 752 were losers.

Riding High:

Largecap and midcap gainers today include Bharti Hexacom Ltd. (1,583.10, 4.6%), Eternal Ltd. (231.60, 4.3%) and Gujarat Gas Ltd. (445.30, 3.7%).

Downers:

Largecap and midcap losers today include Wipro Ltd. (236.90, -4.3%), Divi's Laboratories Ltd. (5,640, -2.0%) and LTIMindtree Ltd. (4,191.90, -2.0%).

Volume Rockets

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

Top high volume gainers on BSE included Ujjivan Small Finance Bank Ltd. (42.10, 7.1%), Delhivery Ltd. (281.05, 6.8%) and KFIN Technologies Ltd. (1,105.80, 5.1%).

Top high volume losers on BSE were Sonata Software Ltd. (314.70, -6.1%), Wipro Ltd. (236.90, -4.3%) and Endurance Technologies Ltd. (1,898, -2.1%).

India Cements Ltd. (288.40, 2.1%) was trading at 26.7 times of weekly average. The New India Assurance Company Ltd. (172.49, 3.4%) and Honeywell Automation India Ltd. (34,250, 0.0%) were trading with volumes 9.3 and 8.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

10 stocks made 52 week highs,

Stocks touching their year highs included - Bajaj Finserv Ltd. (2,035.30, 3.4%), Bharti Airtel Ltd. (1,889.10, 3.7%) and Chambal Fertilisers & Chemicals Ltd. (673.60, 2.9%).

17 stocks climbed above their 200 day SMA including KFIN Technologies Ltd. (1,105.80, 5.1%) and Jammu & Kashmir Bank Ltd. (102.16, 4.0%). 5 stocks slipped below their 200 SMA including Caplin Point Laboratories Ltd. (1,951, -1.1%) and Godrej Agrovet Ltd. (762, -1.0%).

 
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