Stock Market Today: All You Need To Know Going Into Trade On April 24 Vrathik Jain NDTV Profit

Good morning!

The GIFT Nifty traded little changed at 24,260.50 as of 7:30 a.m., signalling muted started for Indian equities.

Asian shares moved in a narrow range at the open on Thursday as a global rebound lost momentum following mixed messages from the Trump administration on its China tariff plans.

Back home, on Wednesday, The NSE Nifty 50 and BSE Sensex extended their gaining streak to seventh day and finished at the highest level since mid-December 2024. The rally in the benchmark indices got support from a rally in technology stocks.

LTI Mindtree, Tata Consumer and Syngene International were the list of companies that announced their quarterly results post Wednesday’s close. Other corporate announcements include Bajaj Finance mulling stock split and bonus issue, NHPC’s plan to develop a 1,200 MW solar park among others.

Here’s a quick look at what could influence equities today.

Asian Cues

• S&P 500 futures rose 0.2%

• Australia’s S&P/ASX 200 gained 0.4%

• Euro Stoxx 50 futures climbed 2.8%

• Hang Seng futures fell 0.5%

• Japan’s Topix rose 0.6%

• The Bloomberg Dollar Spot Index declined 0.1%

Get your daily fix of global markets here.

US Markets Update

• The S&P 500 gained 1.7% after retreating from an earlier rise of up to 3.4%

• The Nasdaq 100 rose 2.3%

• The Dow Jones Industrial Average added 1.1%

Commodity Cues

• West Texas Intermediate crude was steady

• Spot gold rose 1.3% to $3,332.18 an ounce

LME Update

• Lead extended gains for the third consecutive trading session to end 1.2% higher.

• Nickel ended 0.1% lower on Wednesday after gaining 0.4% on Tuesday.

• Zinc extended gains for the second consecutive trading session to rally 1.7%

• Copper extended gains for the second consecutive day to close 0.1% higher.

• Aluminium extended rally for the second day to close 2.2% higher.

Nifty Earnings To Watch

• Axis Bank

• Hindustan Unilever

• Nestle India

• Tech Mahindra

Other Earnings To Watch

ACC, SBI Life Insurance Co., Adani Energy Solutions, Cyient, Elecon Engineering Co., Indian Energy Exchange, Aavas Financiers, Kirloskar Pneumatic Co., Laurus Labs, Macrotech Developers, L&T Technology Services, Mphasis, Persistent Systems, SBI Cards and Payment Services, Supreme Industries, Sterling and Wilson Renewable Energy and Tanla Platforms.

Earnings Reactions To Watch

Tata Consumer Products Q4FY25 Highlights (Consolidated, YoY)

• Revenue up 17.3% to Rs 4,608 crore versus Rs 3,927 crore (Bloomberg estimate: Rs 4,555.7 crore)

• Net Profit up 59% to Rs 345 crore versus Rs 217 crore (Bloomberg estimate: Rs 225 crore)

• Ebitda down 1% to Rs 621 crore versus Rs 630 crore (Bloomberg estimate: Rs 612 crore)

• Margin at 13.5% versus 16% (Bloomberg estimate: 13.4%)

• Exceptional items include gain of Rs 120 crore and Rs 72 crore of asset written down.

• The board has recommended a dividend of Rs 8.25 per equity share for FY25.

LTIMindtree Q4FY25 Highlights (Consolidated, QoQ)

• Revenue up 1.1% to Rs 9,772 crore versus Rs 9,661 crore (Bloomberg estimate: Rs 9,868 crore)

• Net Profit up 4% to Rs 1,128.5 crore versus Rs 1,085.4 crore (Bloomberg estimate: Rs 1,165 crore)

• Ebit up 1% to Rs 1,342.3 crore versus Rs 1,329 crore (Bloomberg estimate: Rs 1,705.2 crore)

• Margin at 13.7% versus 13.8% (Bloomberg estimate: 17.3%)

• LTIMindtree board has recommended a final dividend of Rs 45 per equity share.

 Tamilnad Mercantile Bank Q4F25 Highlights (Standalone, YoY)

• Net Profit up 15.3% at Rs 292 crore versus Rs 253 crore

• Net interest income flat at Rs 568 crore

• Gross NPA at 1.25% versus 1.32% (QoQ)

• Net NPA at 0.36% versus 0.41% (QoQ)

360 One WAM Q4FY25 Results (Consolidated, YoY)

• Revenue up 3.7% to Rs 820.77 crore versus Rs 791.17 crore.

• Net Profit up 3% to Rs 249.6 crore versus Rs 242.61 crore.

Thyrocare Technologies Q4FY25 (Consolidated, YoY)
Solid Margin Beat

• Revenue up 21.3% at Rs 187 crore versus Rs 154 crore

• Ebitda up 70.7% at Rs 57.7 crore versus Rs 33.8 crore

• Margin at 30.8% versus 21.9%

• Net profit up 22% at Rs 21.7 crore versus Rs 17.8 crore.

• Board recommends final dividend of Rs 21 per share.

Bajaj Housing Finance Q4FY25 Results (YoY)

• Net profit up 54% to Rs 587 crore versus Rs 381 crore (Bloomberg estimate: Rs 557 crore)

• Net interest income up 31% to Rs 823 crore versus Rs 629 crore.

• Assets under Management up 26% to Rs 1.15 lakh crore

Can Fin Homes Q4FY25 Highlights (YoY)

• Total income up 7.8% to Rs 1,000 crore versus Rs 928 crore.

• Net profit up 11.9% to Rs 234 crore versus Rs 209 crore.

Supreme Petrochem Q4FY25 Highlights (Consolidated, YoY)

• Revenue down 1.5% to Rs 1,539 crore versus Rs 1,563 crore.

• Ebitda down 17.4% to Rs 145 crore versus Rs 175 crore.

• Margin to 9.4% versus 11.2%.

• Net profit down 18.7% to Rs 107 crore versus Rs 132 crore.

Syngene International Q4FY25 Highlights (Consolidated, YoY)

• Revenue up 11% to Rs 1,018 crore versus Rs 917 crore (Bloomberg estimate: Rs 1,048.8 crore).

• Ebitda up 8.4% to Rs 344 crore versus Rs 317 crore (Estimate: Rs 364.8 crore).

• Margin narrows to 33.8% versus 34.6% (Estimate: 34.8 %).

• Net profit down 2.8% to Rs 183 crore versus Rs 189 crore (Estimate: Rs 192.9 crore).

Supreme Petrochem Q4FY25 Highlights (Consolidated, YoY)

• Revenue down 1.5% to Rs 1,539 crore versus Rs 1,563 crore.

• Ebitda down 17.4% to Rs 145 crore versus Rs 175 crore.

• Margin to 9.4% versus 11.2%.

• Net profit down 18.7% to Rs 107 crore versus Rs 132 crore.

Dalmia Bharat Q4FY25 (Consolidated, YoY)

• Revenue down 5% to Rs 4,091 crore versus Rs 4,307 crore (Estimate: Rs 4232 crore).

• Ebitda up 21% to Rs 793 crore versus Rs 654 crore (Estimate: Rs 788 crore).

• Margin at 19.4% versus 15.2% (Estimate: 18.6%).

• Net Profit up 38% to Rs 435 crore versus Rs 315 crore (Estimate: Rs 297 crore).

Astec Lifesciences Q4FY25 Earnings (Consolidated, YoY)

• Revenue down 22.3% at Rs 120 crore versus Rs 154 crore.

• Ebitda down 56.6% at Rs 5.5 crore versus Rs 12.7 crore.

• Margin at 4.6% vs 8.3%.

• Net loss of Rs 16 crore vs loss of Rs 1 crore.

Rallis India Q4FY25 (Consolidated, YoY)

• Revenue down 1.38% at Rs 430 crore versus Rs 436 crore.

• Ebitda loss at Rs 20 crore versus profit of Rs 6 crore.

• Net loss at Rs 32 crore versus loss of Rs 21 crore.

Stocks to Watch

• Bajaj Finance: The company is considering a stock split and bonus issue on April 29, 2025.

• Gensol Engineering: The company clarifies that it has not received any communication or notice from ED in connection with the Mahadev Book app case. The promoters have no association with the Mahadev Book app case or alleged financial transactions.

• Biocon: The company will be in focus after the board approved the raising of funds up to Rs 4,500 crore via NCDs or other means.

• Central Bank of India: The board of the bank is set to consider raising funds via QIP, preferential issue, or other means.

• Adani Green: The company’s step-down arm signed an agreement with Uttar Pradesh Power Corp for energy storage capacity supply from Pumped Hydro Storage Projects.

• NHPC: The company to develop a 1,200 MW solar park in Uttar Pradesh for Rs 797 crore and an Investment of Rs 239 crore in arm Bundelkhand Saur Urja for the development of the 1,200 MW solar park.

• Panacea Biotec: The company received a $5.2 million order from Unicef for polio vaccine.

• 360 One WAM: The company reappointed Karan Bhagat as MD for five years from July 27, 2025, and approved fund raising up to Rs 250 crore via NCDs.

• Niva Bupa Health: The company received Irdai approval for the reappointment of Krishnan Ramachandran as MD and CEO for five years from May 1.

• Deepak Fertilizers And Petrochemicals: The company incorporated wholly owned subsidiary Deepak Globalchem in Singapore.

• Infosys: The company incorporated its step-down wholly owned subsidiary Infosys Australia Technology Services.

• Popular Vehicles and Services: The company has received four letters of intent for setting up Ather facilities in Maharashtra.

• One Mobikwik Systems: The MCA approved incorporation of the arm Mobikwik Financial Services.

• Vascon Engineers: The company has received a letter of intent for a Rs 225 crore order from Royal Rides.

• Mahindra Holidays & Resorts India: The company has partnered with Job Plus to launch the transformative Skill Development & Livelihood Initiative.

• Spandana Sphoorthy Financial: Shalabh Saxena resigned as the managing director and chief executive officer of the company.

Brokerage Radar

Jefferies On Waaree Energies

• Downgraded to ‘underperform’ from ‘hold’ and raises target price to Rs 2,100 apiece from earlier Rs 2,030.

• Fourth quarter results were strong, with positive guidance for fiscal year 2026.

• Profitability is expected to inflect over fiscal years 2026 to 2027.

• Expect lower imports into the United States in fiscal year 2026 due to high inventories and weak economics in the second half of fiscal year 2027 under the non-domestic content requirement.

• Downgrade follows a rally of approximately 25% over the past month.

Goldman Sachs On LTIMindtree

• Retained a ‘neutral’ rating on the stock and lowered the target price to Rs 4,210 apiece from earlier Rs 4,500.

• The fourth quarter was muted, though near-term commentary and outlook were surprisingly robust.

• Management appeared confident about closing a couple of large deals in the first quarter of fiscal year 2026.

• Commentary on vertical performance diverged from industry peers.

• Expects revenue growth to decelerate to 3.5% year-on-year in fiscal year 2026 compared to 5% in fiscal year 2025.

Jefferies On Dalmia Bharat

• Retained a ‘buy’ rating on the stock and a target price of Rs 2,050 apiece.

• Fourth quarter missed estimates on account of weak volumes, while unit Ebitda was in line.

• Realisations were slightly below estimates, while costs remained close to projections.

CLSA On Tata Communications

• Retained an ‘outperform’ rating on the stock and raised the target price to Rs 2,100 apiece from earlier Rs 2,070.

• The chief executive officer said medium-term digital growth will accelerate.

• The company expects a 10–15% compound annual growth rate in data revenue and consolidated Ebitda by fiscal year 2028.

• The forecast was lowered, but the long-term growth outlook remains strong.

• Capital expenditure has increased, but gearing levels remain comfortable.

Click here for the full list of brokerage calls, target changes, and sector outlooks.

Trading Tweaks

• Price Band changes from 20% to 10%: Rajratan Global Wire.

• Price Band changes from 20% to 5%: Sterling and Wilson Renewable Energy.

• Ex-Dividend: Huhtamaki India.

• Ex-Demerger: Sterlite Technologies.

• List of securities shortlisted in Short-Term ASM Framework Stage 1: Fino Payments Bank.

• List of securities to be excluded from ASM Framework: Pearl Global Industries.

F&O Cues

• Nifty April Futures up by 0.57% to 24,306 at a discount of 28 points.

• Nifty April futures open interest down by 37%.

• Nifty Options April 24 Expiry: Maximum call open interest at 25,000 and maximum put open interest at 24,000.

• Put-Call ratio at 0.85, with highest change in Put open interest at 24,200.

• Securities in ban period: RBL Bank.

Money Market Update

• Rupee closed 22 paise weaker at 85.42, following its close at 85.20 per dollar on Tuesday.

• The yield on the benchmark 10-year government bond ended flat at 6.33.

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