Stock Market Today: All You Need To Know Going Into Trade On April 28 Vrathik Jain NDTV Profit

Good morning!

The GIFT Nifty rose 0.3% to 24,220 as of 6:45 am, signalling a positive start to Indian markets.

Asian shares made modest gains at the open, with investors closely watching developments in US trade talks and possible new stimulus measures from China.

Back home, India’s benchmark equity indices extended losses to the second day on Friday as investors pulled their money out in anticipation of an escalation in tension between India and Pakistan. On a weekly basis, both benchmarks gained for the second consecutive time.

Here’s everything that could influence Indian equities today: 

Asian Cues

• Hang Seng futures rose 0.2%, Japan’s Topix climbed 1.2%, and Australia’s S&P/ASX 200 advanced 0.6%.

• The yield on 10-year US Treasuries held steady at 4.23%.

Commodity Update

• West Texas Intermediate crude rose 0.2% to $63.14 per barrel.

• Spot gold declined 0.3% to $3,309.50 an ounce.

London Metal Exchange

• Copper ended 0.2% lower, snapping a three-day losing streak.

• Nickel prices fell by 1.7%.

• Aluminium declined 0.9%, ending a three-day rally.

• Zinc prices fell 1.6%, breaking a three-day advance.

• Lead prices dropped 0.8%, halting a four-day streak of gains.

US Markets Update

• The S&P 500 recorded its longest winning streak since January, rising 0.7%, while the Nasdaq 100 gained 1.1% led by strong performance in megacap stocks.

Key Events, Data To Watch

• The government will release the quick estimates of the Index of Industrial Production for March. A Bloomberg estimate projects India’s factory activity to rise by 3.3%. The IIP growth rate for February was 2.9% and for January was 5%.

Nifty Earnings To Watch

• UltraTech Cement

Other Earnings To Watch

Adani Green Energy, Adani Total Gas, Aditya Birla Sun Life AMC, Castrol India, CSB Bank, Firstsource Solutions, Go Digit General Insurance, KFin Technologies, KPIT Technologies, AWL Agri Business, Nippon Life India Asset Management Fino Payments Bank, Hatsun Agro Product, Hexaware Technologies, IDBI Bank, Indegene, IRCTC, Oberoi Realty, PNB Housing Finance, Sanghi Industries, Shriram Asset Management, TVS Holdings, TVS Motor Company and UCO Bank.

Earnings Reactions To Watch

Reliance Industries Q4FY25 (Consolidated, QoQ)

• Revenue up 9% to Rs 2,61,388 crore versus Rs 2,39,986 crore.

• Ebitda flat at Rs 43,832 crore versus Rs 43,789 crore.

• Ebitda margin at 16.8% versus 18.2%, down 148 bps; biggest contraction in last 10 quarters.

• Net profit up 5% to Rs 19,407 crore vs Rs 18,540 crore.

Reliance Jio Q4FY25 (QoQ)

• Revenue up 2% to Rs 30,018 crore versus Rs 29,307 crore.

• Ebitda up 2% to Rs 15,852 crore versus Rs 15,478 crore.

• Ebitda margin at 52.8% versus 52.8%.

• Net profit up 3% to Rs 6,642 crore versus Rs 6,477 crore.

• ARPU up 1.4% to Rs 206 versus Rs 203.

• Subscriber at 48.8 crore versus 48.2 crore.

Tata Technologies Q4FY25 (Consolidated, QoQ)

• Revenue down 2.4% to Rs 1,285.65 crore versus Rs 1,317.38 crore (Bloomberg estimate: Rs 1,331.7 crore).

• Net profit up 12% to Rs 188.87 crore versus Rs 168.64 crore (Bloomberg estimate: Rs 177.75 crore).

• EBIT down 1% to Rs 202.26 crore versus Rs 203.58 crore (Bloomberg estimate: Rs 251.45 crore).

• Margin at 15.7% versus 15.5% (Bloomberg estimate: 18.7%).

• The board recommended a final dividend of Rs 8.35 and one-time special dividend of Rs 3.35 per share.

RBL Bank Q4FY25 (Standalone, YoY)

• Net profit down 80.5% to Rs 68.7 crore versus Rs 352 crore (Bloomberg estimate: Rs 47.5 crore).

• Net interest income down 2% at Rs 1,563 crore versus Rs 1,600 crore.

• NIM at 4.89%, down 1 bps (QoQ).

• Gross NPA at 2.6% versus 2.92% (QoQ).

• Net NPA at 0.29% versus 0.53% (QoQ).

• Rise in provisions and slight fall in net interest income weighed on RBL Bank’s net profit for the quarter ended March.

• The board recommended the dividend of Rs 1 per equity share.

IDFC FIRST Bank Q4FY25 (Standalone, YoY)

• Net profit down 58% at Rs 304 crore versus Rs 724 crore (Bloomberg estimate: Rs 421.5 crore).

• Net interest income up 10% at Rs 4,907 crore versus Rs 4,469 crore (Bloomberg estimate: Rs 5,073.5 crore).

• Net Interest Margin at 5.95% (Bloomberg estimate: 6.14%).

• Core Operating income up 8.7% at Rs 6,609 crore versus Rs 6,079 crore.

• Net NPA at 0.53% versus 0.52% (QoQ).

• Gross NPA at 1.87% versus 1.94% (QoQ).

DCB Bank Q4FY25 (Standalone, YoY)

• Net profit up 14% to Rs 177.07 crore versus Rs 155.68 crore.

• Net interest income up 10% at Rs 557.96 crore versus Rs 507.48 crore.

• Gross NPAs at 2.99% versus 3.11% (QoQ).

• Net NPAs at 1.12% versus 1.18% (QoQ).

• The board of DCB Bank has recommended a dividend of Rs 1.35 per share.

Poonawala Fincorp Q4FY25 (Consolidated, YoY)

• NII up 8.54% at Rs 610 crore versus Rs 562 crore.

• Net profit down 81.2% at Rs 62.3 crore versus Rs 332 crore (Bloomberg estimate: Rs 168 crore).

• Gross NPA at 1.84% versus 1.85% (QoQ).

• Net NPA at 0.85% versus 0.81% (QoQ).

• Assets under management up 43% at Rs Rs 35,631 crore.

• PAT impacted during the year due to onetime Opex and accelerated provisioning in Q2FY25.

Rossari Biotech Q4FY25 (Consolidated, YoY)

• Revenue up 22.6% at Rs 580 crore versus Rs 473 crore.

• Ebitda up 9.4% at Rs 69.5 crore versus Rs 63.5 crore.

• Margin at 12% versus 13.4%.

• Net profit up 1% at Rs 34.4 crore versus Rs 34 crore.

Oracle Financial Services Q4FY25 (Consolidated, QoQ)

• Revenue up 0.05% at Rs 1,716 crore versus Rs 1715 crore.

• Ebitda up 7.16% at Rs 747.7 crore versus Rs 698 crore.

• Ebitda margin up 289 bps at 43.57% versus 40.68%.

• Net profit up 19.03% at Rs 644 crore versus Rs 541 crore.

Force Motors Q4FY25 (Consolidated, YoY)

• Revenue up 17.15% at Rs 2,356 crore versus Rs 2011 crore.

• Ebitda up 18.15% at Rs 330.06 crore versus Rs 279.34 crore.

• Ebitda margin up 11 bps at 14% versus 13.89%.

• Net profit up 210.71% at Rs 435 crore versus Rs 140 crore.

• Exceptional Gain of Rs 394 crore from Madhya Pradesh government regarding Industrial Investment Promotion Assistance Scheme, 2010.

• Recommends final dividend of Rs 40 per share.

Mahindra Holidays & Resorts India Q4FY25 (Consolidated, YoY)

• Revenue up 5.2% to Rs 361 crore versus Rs 343 crore.

• Ebitda up 55% to Rs 94.75 crore versus Rs 61.3 crore.

• Margin at 26.2% versus 17.9%.

• Net profit up 73% to Rs 57.5 crore versus Rs 33.3 crore.

L&T Finance Q4FY25 (Standalone, YoY)

• Revenue up 8.2% at Rs 2,150 crore versus Rs 1,987 crore.

• Net profit up 15.7% at Rs 631 crore versus Rs 545 crore.

• Recommends final dividend of Rs 2.75 per share.

Tejas Networks Q4FY25 (Consolidated, YoY)

• Revenue up 43.7% to Rs 1,907 crore versus Rs 1,327 crore.

• Ebitda down 60.8% to Rs 121 crore versus Rs 309 crore.

• Margin at 6.3% versus 23.3%.

• Net loss of Rs 71.8 crore versus profit of Rs 147 crore.

Zensar Tech Q4FY25 (Consolidated, QoQ)

• Revenue up 2.5% to Rs 1,359 crore versus Rs 1,326 crore.

• EBIT up 2.9% to Rs 189 crore versus Rs 183 crore.

• Margin at 13.9% versus 13.8%.

• Net profit up 10% to Rs 176 crore versus Rs 160 crore.

Lloyds Metals and Energy Q4FY25 (Consolidated, YoY)

• Revenue down 23.5% to Rs 1,183 crore versus Rs 1,546 crore.

• Ebitda down 44% to Rs 250 crore versus Rs 450 crore.

• Margin at 21.2% versus 29.1%.

• Net profit down 27% to Rs 202 crore versus Rs 277 crore.

• The board has approved raising up to Rs 5,000 crore via bonds, securities, and other means.

Bhansali Engineering Q4FY25 (Consolidated, YoY)

• Revenue up 7.4% to Rs 345 crore versus Rs 321 crore.

• Ebitda down 5.7% to Rs 48 crore versus Rs 51 crore.

• Ebitda margin to 13.96% versus 15.89%.

• Net profit down 2.3% to Rs 39 crore versus Rs 40 crore.

• Final dividend of Rs 1 per share.

Mangalore Refinery and Petrochemicals Q4FY25 (Standalone, QoQ)

• Revenue up 7.8% to Rs 24,596 crore versus Rs 21,871 crore.

• Ebitda up 9.6% to Rs 1,130 crore versus Rs 1,031 crore.

• Margin to 4.6% versus 4.7%.

• Net profit up 19.4% to Rs 363 crore versus Rs 304 crore.

Avantel Q4FY25 (Consolidated, YoY)

• Revenue up 17.95% to Rs 49.26 crore versus Rs 41.76 crore.

• Ebitda down 36.14% to Rs 11.59 crore versus Rs 18.15 crore.

• Margin down 19.93% to 23.52% versus 43.46%.

• Net profit down 49.95% to Rs 6.08 crore versus Rs 12.15 crore.

India Cements Q4 Highlights (Consolidated, YoY)

• Revenue down 3.1% to Rs 1,197 crore versus Rs 1,236 crore.

• Ebitda loss to Rs 3 crore versus profit of Rs 37 crore.

• Net profit of Rs 19.14 crore versus loss of Rs 50.06 crore.

• Exceptional items during the quarter include: Profit on sale of investment in subsidiaries, Coromandel Electric and Coromandel Travels, amounting to Rs 92.81 crore, including reversal of provision for diminution in value of investment and provision for diminution in value of vessel held for sale and others of Rs 2.68 crore.

SBFC Finance Q4FY25 (Standalone, YoY)

• Total income up 29.2% to Rs 361.1 crore versus Rs 279.4 crore

• Net profit up 29% to Rs 94.4 crore versus Rs 73.4 crore.

• Net interest income up 25% at Rs 211 crore versus Rs 169 crore.

• Board approves raising up to Rs 3,000 crore via NCDs.

Stocks To Watch

• Dixon Technologies: Arm IsmartU India to acquire KHY Electronics for Rs 121 crore.

• GAIL: Signs MoU with CONCOR to explore LNG adoption as alternative fuel.

• Axis Bank: Rajiv Anand to retire as Deputy MD after completion of third term.

• Aditya Birla Sun Life: Plans to raise Rs 950 crore through bonds and shares.

• Apollo Tyres: Netherlands-based arm to shut Enschede plant operations by summer 2026.

• Mahindra & Mahindra: To acquire SML Isuzu for Rs 555 crore; to buy 43.96% stake from Sumitomo Corp. and 15% from Isuzu Motors; to make open offer for 26% at Rs 650 per share.

• Aurobindo Pharma: Arm CuraTeQ Biologics gets positive opinion from EMA’s CHMP for trastuzumab biosimilar Dazublys® for HER2-positive breast cancer treatment.

• Zydus Lifesciences: USFDA issues six observations after Gujarat API unit inspection; none related to data integrity.

• Biocon: Arm Biocon Biologics receives positive EMA CHMP opinions recommending approval of denosumab biosimilars Vevzuo® and Denosumab BBL.

• Harsha Engineers: Signs letter of intent with multinational company for supply of stamping products worth Rs 18 crore.

• Alembic Pharmaceuticals: Commissions new formulations manufacturing facility in Madhya Pradesh.

• Eicher Motors: Launches 2025 Hunter 350; price range Rs 1,49,900 to Rs 1,81,750.

• RailTel Corporation: Receives Rs 90.08 crore order from Institute of Road Transport.

• Avenue Supermarts: Opens new store in Karnataka; total store count at 417.

• Ramkrishna Forgings: Audit committee approves appointment of external agencies to study inventory discrepancy.

• Sundaram Finance Holdings: Completes acquisition of 24.16% stake in Axles India for Rs 183 crore; Axles India becomes subsidiary.

• Indian Overseas Bank: Board to meet on May 2 to consider capital raising plan for FY26.

• Medplus Health Services: Arm Optival Health Solutions receives drug licence suspension order for Maharashtra store; potential revenue loss Rs 1.05 lakh.

• Balrampur Chini Mills: Receives Rs 35 crore assessment order from Income Tax Department.

• IndusInd Bank: Independent report identifies Rs 1,960 crore adverse P&L impact due to accounting discrepancies in internal derivative trades; to reflect impact in FY25 financials.

• NRB Bearings: Board approves Rs 600 crore capacity expansion to support orders from BMW, Stellantis, and Renault for next-generation vehicle platforms.

Offerings

• Ather Energy: The Rs 2,980.7-crore IPO will open for bidding on Monday and close on April 30. The price band is set at Rs 304 to Rs 321 per share. The IPO consists of a fresh issue of Rs 2,626 crore and OFS of Rs 354.8 ​crore. The company secured Rs 1,340 crore from anchor investors.

Media Reports

• RBI Governor Malhotra has urged US businesses to increase their investments in India, according to PTI.

• India is considering allowing foreign ownership of up to 49% in nuclear power plants, Reuters reported.

• The Finance Ministry plans to table the Insurance Amendment Bill in Parliament during the upcoming monsoon session, PTI said.

Bulk Deals

• Vodafone Idea: Goldman Sachs bought 59.86 crore shares (0.55%) at Rs 7.65 apiece, Nokia Solutions and Networks India sold 102 crore shares (0.94%) at Rs 7.65 apiece.

Trading Tweaks

• Price Band changes from 10 to 5%: Nagreeka Capital and Infra.

• Ex-Dividend: HCLTech.

• Ex-Rights Issue: Lloyds Engineering Works.

• List of securities shortlisted in Short-Term ASM Framework Stage 1: Cellecor Gadgets, Waaree Energies.

• List of securities to be excluded from ASM Framework: One Point One Solutions.

F&O Cues

• Nifty May Futures down by 1.04% to 24,139 at a premium of 100 points.

• Nifty May futures open interest up by 2%.

• Nifty Options April 30 Expiry: Maximum Call open interest at 25,000 and Maximum Put open interest at 23,500.

• Put-Call ratio at 1.25, with highest change in Put open interest at 23,700.

• Securities in ban period: Nil

Money Market Update

• The rupee closed 18 paise weaker at 85.45 against the US dollar.

• The yield on the benchmark 10-year government bond ended four bps higher at 6.36%

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