Stock Market Today: All You Need To Know Going Into Trade On May 12 Vrathik Jain NDTV Profit

Good morning.

The GIFT Nifty traded 1.96% higher at 24,553.50 as of 7:08 a.m., signalling a positive start to Indian equities.

Asian stocks and US equity-index futures saw gains, alongside a strengthening dollar, as China and the US reported “substantial progress” in their trade negotiations.

Shares throughout the Asian region gained at the open, with the Topix index marked its 12th consecutive day of gains, representing its longest winning streak since October 2017. Futures contracts for both the S&P 500 and the Nasdaq 100 saw increases of at least 1.3%.

Markets On The Home Turf

India’s benchmark equity indices snapped a three-week gaining streak on Friday, extending their decline for the second day amid rising tensions between India and Pakistan.

The past week marked India’s most significant military incursion into Pakistani territory since 1971.

The NSE Nifty 50 ended 265.80 points, or 1.10%, lower at 24,008, while the BSE Sensex closed 880.34 points, or 1.10%, lower at 79,454.47 after witnessing a volatile session.

Overseas investors also turned net sellers of Indian equities on Friday after 16 straight sessions of buying amid escalating India-Pakistan tensions.

Foreign portfolio investors offloaded stocks worth Rs 3,798.7 crore, according to provisional data from the National Stock Exchange.

Domestic institutional investors turned net buyers after being net sellers for a day, as they mopped up equities worth Rs 7,277.7 crore, according to provisional data from the National Stock Exchange.

India-Pakistan Conflict: The Latest Updates

• A ceasefire between India and Pakistan was confirmed on Saturday, mediated by the US, which was violated by Pakistan hours within coming into effect.

• There was a brief exchange of fire with a suspect at the Nagrota military station, the army confirmed post the ceasefire announcement.

• At least 100 terrorists were eliminated in the precision strikes carried out under Operation Sindoor, the Indian military officers said in a press briefing.

• The terrorists killed included Yusuf Azhar, Abdul Malik Rauf who were involved in IC 814 hijack and Pulwama blast, Lt General Rajiv Ghai said.

• The Indian armed forces present proof of “precision targeting” success during Operation Sindoor.

• The slides shared by the Indian military highlighted the impact on Indian retaliatory action on various Pakistani airfields.

• Defence Minister Rajnath Singh on Sunday virtually inaugurated the BrahMos Aerospace Integration and Testing Facility at the Uttar Pradesh Defence Industrial Corridor in Lucknow.

Here’s what could influence Indian equities today:

Global Market Moves (As Of 6:55 am IST):

• S&P 500 futures were up 1.44%.

• Australia’s S&P/ASX 200 rose 0.41%.

• Euro Stoxx 50 futures rose 0.95%.

• Topix up 0.22%.

Commodity Update

• West Texas Intermediate crude advanced 0.39% to $61.26 per barrel.

• Spot gold declined 1.83% to $3,263.95 an ounce.

London Metal Exchange

• Copper rose 0.15%, marking a second straight session of gains.

• Nickel climbed 1.73%.

• Aluminium climbed 0.21%, extending its two-day winning streak.

• Zinc added 1.32%, continuing an upward trend. 

• Lead climbed 1.90%, reversing losses from the previous session.

US Markets Update

Wall Street concluded the week with a cautious tone, as stock and bond markets showed volatility while the S and China prepared to begin trade negotiations.

Investors were hesitant to take on riskier positions, anticipating that while initial discussions between Chinese and American representatives might signal a thaw in relations, a full agreement would likely require multiple negotiation sessions.

After a swift $6 trillion increase in the S&P 500 from near bear market levels, market activity has been more subdued recently. The S&P 500 finished Friday with minimal change. The Nasdaq 100 also saw little movement. The Dow Jones Industrial Average decreased by 0.3%.

Key Data To Watch

The government will release the consumer price index (CPI) inflation for April. India’s retail inflation is likely to continue to dip further in April after easing to the lowest in a little less than six years in March.

The Consumer Price Index-based inflation is projected to rise by 3.2% in April, according to a median forecast of economists polled by Bloomberg. This is after it came in at 3.34% in March—the lowest since August 2019.

Earnings In Focus

Nifty earnings to watch: Tata Steel.

Other earnings to watch: Bajaj Electricals, Carborundum Universal, CARE Ratings, Chalet Hotels, DCW, Garden Reach Shipbuilders & Engineers, Happiest Minds Technologies, JM Financial, Jyothy Labs, Krishna Institute of Medical Sciences, Kewal Kiran Clothing, Krsnaa Diagnostics, Man Industries (India), Morepen Laboratories, PG Electroplast, Prudent Corporate Advisory Services, PVR Inox, Raymond, Raymond Lifestyle, Sagar Cements, SRF, TD Power Systems, Thomas Cook (India), UPL, Usha Martin, Venkys (India), Ventive Hospitality, Vijaya Diagnostic Centre and Zaggle Prepaid Ocean Services.

Earnings Reactions To Watch

Dr Reddy’s Laboratories Q4 Results (Consolidated, YoY)

• Revenue up 20.1% to Rs 8,506 crore versus Rs 7,083 crore (Bloomberg estimate: Rs 8,369 crore).

• Ebitda up 32% at Rs 2,475 crore versus Rs 1,872 crore (Bloomberg estimate: Rs 2,281.6 crore).

• Margin at 29% versus 26.4% (Bloomberg estimate: 27.3%).

• Net Profit up 21.9% to Rs 1,593 crore versus Rs 1,307 crore (Bloomberg estimate: Rs 1,465.7 crore).

GE Shipping Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue down 18.3% at Rs 1,223 crore versus Rs 1,497 crore.

• Ebitda down 47% at Rs 505 crore versus Rs 951 crore.

• Margin at 41.3% versus 63.5%.

• Net profit down 60% at Rs 363 crore versus Rs 905 crore.

Relaxo Footwares Q4FY25 Results Highlights (Consolidated, YoY)

• Revenue down 7% at Rs 695 crore versus Rs 747 crore.

• Ebitda down 7% at Rs 112 crore versus Rs 120 crore.

• Margin flat at 16.1%.

• Net profit down 8.4% at Rs 56 crore versus Rs 61 crore.

Manappuram Finance Q4 FY25 Results (Standalone, YoY)

• Total income up 15.1% to Rs 1,741.77 crore versus Rs 1,513.26 crore.

• Net Profit down 3.3% to Rs 414.34 crore versus Rs 428.32 crore (Bloomberg estimate: Rs 445.3 crore).

Navin Flourine Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue up 16% at Rs 713 crore versus Rs 614 crore (Bloomberg estimate: Rs 679.3 crore).

• Ebitda up 55.4% at Rs 190 crore versus Rs 122 crore (Bloomberg estimate: Rs 169.4 crore).

• Margin at 26.7% versus 20% (Bloomberg estimate: 24.9%).

• Net profit up 35% at Rs 95 crore versus Rs 70.4 crore (Bloomberg estimate: Rs 99 crore).

Bank of India Q4FY25 Results Highlights (Standalone, YoY)

• Net profit up 82.5% at Rs 2,626 crore versus Rs 1,439 crore.

• Net Interest Income up 2% at Rs 6,063 crore versus Rs 5,936 crore.

• Operating profit up 37.3% at Rs 4,885 crore versus Rs 3,557 crore.

• Gross NPA at 3.27% versus 3.69% (QoQ).

• Net NPA at 0.82% versus 0.85% (QoQ).

• Provisions up at Rs 1,338 crore versus Rs 304 crore (QoQ).

• Provisions down 26.7% at Rs 1,338 crore versus Rs 1,826 crore.

Aditya Vision Q4 FY25 Earnings Highlights (Consolidated, YoY)

• Revenue up 29.6% at Rs 487 crore versus Rs 376 crore.

• Ebitda up 12.4% at Rs 42 crore versus Rs 38 crore.

• Margin at 8.7% versus 10%.

• Net profit up at Rs 16 crore versus Rs 8 crore.

Eveready Industries Q4 FY25 Results Highlights (Consolidated, YoY)

• Net profit up 29% at Rs 10 crore versus Rs 8 crore.

• Revenue up 6.44% at Rs 299 crore versus Rs 281 crore.

• Ebitda up 0.19% at Rs 25.5 crore versus Rs 25.5 crore.

• Margin at 8.5% versus 9%.

Swiggy Q4 Results (Consolidated, QoQ)

• Revenue up 10.4% to Rs 4,410 crore versus Rs 3,993 crore (Bloomberg estimate: Rs 4,178.5 crore).

• Ebitda loss of Rs 962 crore versus loss of Rs 726 crore (Bloomberg estimate: Loss of Rs 732.7 crore).

• Net loss of Rs 1,081 crore versus loss of Rs 799 crore (Bloomberg estimate: Loss of Rs 778.1 crore).

KPR Mill Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue up 4.3% at Rs 1,769 crore versus Rs 1,697 crore.

• Ebitda down 0.7% at Rs 333 crore versus Rs 335 crore.

• Margin at 18.8% versus 19.7%.

• Net profit down 4.2% at Rs 204 crore versus Rs 214 crore.

ABB India Q1CY25 Highlights (YoY)

• Revenue rose 2.6% to Rs 3,159.56 crore versus Rs 3,080.36 crore. (Estimate: Rs 3,428 crore).

• Ebitda up 3% to Rs 582.27 crore versus Rs 565.18 crore. (Estimate: Rs 621 crore).

• Margin at 18.4% versus 18.3% (Estimate: 18.1%).

• Net profit up 3.3% to Rs 474.63 crore versus Rs 459.29 crore (Estimate: Rs 520 crore).

Thermax Q4 FY25 Results Highlights (YoY)

• Revenue up 11.6% at Rs 3,085 crore versus Rs 2,763 crore (Bloomberg estimate: Rs 3,086 crore).

• Ebitda up 10% at Rs 299.6 crore versus Rs 273 crore (Bloomberg estimate: Rs 303 crore).

• Margin at 9.7% versus 10% (Bloomberg estimate: 9.8%).

• Net profit up 8% at Rs 205 crore versus Rs 190 crore (Bloomberg estimate: Rs 219 crore).

Jupiter Lifeline Hospitals Q4 FY25 Earnings Highlights (Consolidated, YoY)

• Revenue up 12% at Rs 327 crore versus Rs 291 crore.

• Ebitda up 23.7% at Rs 78 crore versus Rs 63 crore.

• Margin at 24% versus 21.6%.

• Net profit down 0.4% at Rs 44.8 crore versus Rs 45 crore.

India Shelter Finance Q4 (YoY)

• Total Income up 34% at Rs 327 crore versus Rs 244 crore.

• NII up 26.71% at Rs 166 crore versus Rs 131 crore.

• GNPA at 0.99% versus 1.25% (QoQ).

• NNPA at 0.75% versus 0.94% (QoQ).

• Net profit up 39% at Rs 108 crore versus Rs 77.7 crore.

• To pay final dividend of Rs 5/share.

Birla Corp Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue up 6% at Rs 2,815 crore versus Rs 2,654 crore (Bloomberg estimate: Rs 2,611.4 crore).

• Ebitda up 13% at Rs 534 crore versus Rs 472 crore (Bloomberg estimate: Rs 390.5 crore).

• Margin at 19% versus 17.8% (Bloomberg estimate: 15%).

• Net profit up 32.7% at Rs 257 crore versus Rs 193 crore (Bloomberg estimate: Rs 132 crore).

Meghmani Organics Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue up 35% at Rs 553 crore versus Rs 410 crore

• EBITDA at Rs 65.5 crore versus Rs 2 crore

• Margin at 11.8% versus 0.5%

• Net profit at Rs 19.8 crore versus loss of Rs 18 crore

Borosil Renewables Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue up 32% at Rs 373 crore versus Rs 283 crore

• Ebitda up to Rs 15.5 crore versus Ebitda loss of Rs 25.5 crore

• Margin at 4%

• Net loss of Rs 20 crore versus loss of Rs 48 crore

Apollo Pipes Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue up 23% at Rs 315 crore versus Rs 256 crore

• Ebitda down 5.5% at Rs 24 crore versus Rs 25 crore

• Margin at 7.6% versus 9.9%

• Net Profit up 45% at Rs 9.8 crore versus Rs 6.7 crore

Triveni Turbine Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue up 17.4% at Rs 538 crore versus Rs 458 crore

• EBITDA up 34% at Rs 120 crore versus Rs 89.8 crore

• Margin at 22.4% versus 19.6%

• Net profit up 23.6% at Rs 93.9 crore versus Rs 76 crore

• Board to pay final dividend of Rs 2 per share

Seshasahyee Paper Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue down 6.9% at Rs 502 crore versus Rs 539 crore

• Ebitda down 62.8% at Rs 25.2 crore versus Rs 67.7 crore

• Margin at 5% versus 12.6%

• Net profit down 52.4% at Rs 27.1 crore versus Rs 56.8 crore

• Board to pay dividend of Rs 2.5 per share

Electrosteel Castings Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue down 15.2% at Rs 1,701 crore versus Rs 2,004 crore

• Ebitda down 48.7% at Rs 160 crore versus Rs 311 crore

• Margin at 9.4% versus 15.5%

• Net profit down 26% at Rs 168 crore versus Rs 227 crore

• Board to pay final dividend of Rs 1.4 per share

AFFLE 3I Q4 FY25 Results Highlights (Consolidated, QoQ)

• Revenue flat at Rs 602 crore

• EBITDA up 1.7% at Rs 107 crore versus Rs 106 crore

• Margin at 17.8% versus 17.5%

• Net profit up 2.8% at Rs 103 crore versus Rs 100 crore

Grindwell Norton Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue up 2.7% at Rs 709 crore versus Rs 691 crore

• EBITDA up 1.8% at Rs 127 crore versus Rs 125 crore

• Margin flat at 18%

• Net Profit flat at Rs 92.5 crore

Shakti Pumps Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue up 9.2% at Rs 665 crore versus Rs 609 crore

• EBITDA up 25.4% at Rs 164 crore versus Rs 131 crore

• Margin at 24.6% versus 21.5%

• Net profit up 23% at Rs 110 crore versus Rs 90 crore

Stocks In News

• IndusInd Bank: Addressing media reports, the lender stated that the audit report received on April 26 highlighted certain aspects that may require evaluation from an insider trading perspective. The bank is currently reviewing the findings and will take appropriate actions under applicable insider trading laws based on the outcome of the examination.

• State Bank of India: The board has approved the plan to divest a 13.19% stake of Yes Bank to Sumitomo Mitsui Banking Corp. at Rs 21.5 per equity share for a consideration of Rs 8,888 crore.

• Federal Bank: The lender has entered into an agreement with Sumitomo Mitsui Banking Corp. to sell 16.6 crore shares of Yes Bank. The shares are being sold to SMBC at a price of Rs 21.5 per share.

• Cyient DLM: Anthony Montalbano has stepped down as chief executive officer, with Managing Director Rajendra Velagapudi set to take over the role.

• Yes Bank: Sumitomo Mitsui Banking Corp. is set to acquire a 13.19% stake in the bank from SBI, along with an additional 6.81% stake from other investors. The transaction is subject to approval from the Competition Commission of India and the Reserve Bank of India. Despite the deal, SBI will continue to be the bank’s major shareholder, retaining over 10% ownership.

• Bandhan Bank: The bank is in an agreement to sell 15.39 crore shares of Yes Bank at Rs 21.5 per share. Its shareholding in Yes Bank will reduce to 0.21% from 0.7% post sale.

• Puravankara: The company in an JV agreement will develop 24.59-acre land in North Bengaluru. The project is estimated to have a gross development value at Rs 3,300 crore.

• Max India: The company has finalised the sale of three floors to Max Towers Pvt. for a total consideration of Rs 105.08 crore.

• Jupiter Lifeline: The company has appointed Sivasis Sen as chief financial officer with effect from May 12.

• Manappuram Finance: The company has appointed Deepak Reddy as chief executive officer effective from Aug. 1, 2025.

• Canara Bank: The bank will cut MCLR by 10 basis points across tenures effective from May 12.

• Raymond Lifesciences: Sameer Shah resigned as the chief financial officer effective from July 31.

• AFFLE 3I: Gets two patents in India, which were earlier granted to the company in the US.

• Karus Vysya Bank: The RBI approved re-appointment of Meena Hemchandra as Part-time Chairperson effective July 25.

• Solara Active Pharma Sciences: USFDA concluded inspection at Ambernath facility with zero Form 483 inspectional observations

• MedPlus Health: Subsidiary Optival Health Solutions recieved drug license suspension order for three days for Andra Pradesh store, with a potential revenue loss of Rs 1.8 lakh.

• Glenmark Pharma: USFDA classified inspection at Indore manufacturing unit as ‘Official Action Indicated’.

• GPT Healthcare: The company fully commissioned a greenfield quaternary care hospital in Raipur, Chhattisgarh.

• Bombay Burmah: The company’s step-down arm incorporated two wholly-owned subsidiaries Associated Biscuit Investments Mauritius & Restpoint Investments Mauritius.

• BEML: The Government of Madhya Pradesh has approved the allotment of 60.063 hectares (approximately 148 acres) of land to the company. 

• Indostar Capital Finance: The company informed the resignation of Karthikeyan Srinivasan as a whole-time Director and CEO of the Company and re-designation of Randhir Singh as Managing Director designated as Executive Vice Chairman of the company coming into effect from May 11.

Brokerage Radar

BofA on Dr Reddy’s Labs

• Maintain ‘buy’ with a target price of Rs 1,450.

• Broad based growth supporting margins.

• Growth engine at work for post gRevlimid earnings.

• Reiterated confidence on 25% margins post gRevlimid.

• Tariff risk: focus on supply continuity.

Morgan Stanley on Bank of India

• Maintain ‘underweight’ with a target price of Rs 100.

• Both asset quality and margin miss estimates.

• RoA was 1% but over 50% was driven by trading gains and recoveries from written off accounts.

• Expect RoA to moderate materially over the next few years

• Bank of India is most exposed amongst SoE banks.

Morgan Stanley on Manappuram Finance

• Maintain ‘equalweight’ with a target price of Rs 220.

• Focus on secured loans (especially gold loans) and rundown in MFI to 10% of consolidated AUM.

• Guided to gold loan growth of 20% yearly in fiscal 2026.

• Expect the share price to be pegged to Bain’s open offer price.

Bulk Deal

• Angel One: Oxbow Master Fund sold 15.22 lakh shares (1.69%) at Rs 2,293.2 apiece and BOFA Securities Europe Sa bought 15.19 lakh shares (1.68%) at Rs 2,293.21 apiece.

• TVS Holdings: VS Trust bought 5.56 lakh shares (2.74%) at Rs 9,008.3 apiece, while Sundaram Finance Holdings sold 5.56 lakh shares (2.74%) at Rs 9,008.3 apiece.

Trading Tweaks

• Price Band change from 10% to 20%: Carraro India.

• List of securities to be excluded from ASM Framework: Manorama Industries, Paras Defence and Space Technologies.

F&O Cues

• Nifty May Futures down by 0.74% to 24,092 at a discount of 86 points.

• Nifty May futures open interest down by 1.2%.

• Nifty Options May 15 Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 20,650.

• Put-Call ratio at 1.06, with highest change in Call open interest at 24,000.

• Securities in ban period: CDSL, RBL Bank, Manappuram Finance. 

Money Market Update

• The rupee closed 34 paise stronger at 85.38 against the US dollar.

• The yield on the benchmark 10-year government bond ended 2 bps lower at 6.37%.

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