Stock Market Today: All You Need To Know Going Into Trade On May 2 Vrathik Jain NDTV Profit

Good morning! 

GIFT Nifty rose 0.27% to 24,432.5 as of 7:50 am, indicating a mildly positive start for Indian markets.

Asian stocks edged up and US equity-index futures erased losses on Friday after China’s Ministry of Commerce said it is evaluating possible trade talks with the United States.

The MSCI Asia Pacific Index gained 0.1%. Japan’s Topix climbed 0.62%, buoyed by supportive comments from the country’s top trade negotiator, while Japanese shares overall rose 1.1%.

Futures contracts for the S&P 500 reversed earlier declines to gain 0.2%.

Meanwhile, the yen weakened against the dollar after the Bank of Japan indicated it would take longer than previously expected to hit its inflation target, prompting traders to dial back expectations of further interest-rate hikes.

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Here’s everything that could influence Indian equities today:

Asian Cues

• Hang Seng traded 0.33% higher.

• Japan’s Topix gained 0.62%.

• Australia’s S&P/ASX 200 advanced 0.64%.

• Shanghai Shenzhen CSI 300 was closed 0.12% lower.

• South Korea’s Kospi gained 0.04%.

• The yield on 10-year US Treasuries climbed to 4.24%.

Commodity Update

• West Texas Intermediate crude slipped 0.02% to $59.23 per barrel.

• Spot gold fell 0.21% to $3,232.50 an ounce.

London Metal Exchange

• Copper rose 0.89%, rebounding after a 3% drop in the previous session.

• Nickel fell 1.08%, extending its losses.

• Aluminium climbed 0.69% after ending lower last session.

• Zinc declined 0.58%, continuing its downward trend.

• Lead fell 0.31%, also extending losses.

US Markets Update

• The S&P 500 closed 0.63% higher, marking its eighth straight gain—its longest winning streak since August. Optimism over tech earnings and hopes that trade deals could soften the impact of steep tariffs unveiled on April 2 drove sentiment.

• The Nasdaq 100 rose 1.1%, led by Microsoft Corp. and Meta Platforms Inc., which surged on the back of strong quarterly results.

Indian Market’s On Wednesday 

Markets took a breather on Thursday on account of Maharashtra Day.

In the previous session on Wednesday, the benchmark equity indices snapped two days of advances to end in the red.

The NSE Nifty 50 ended 1.75 points or 0.01% lower at 24,334.20, while the BSE Sensex closed 46.14 points, or 0.06% down at 80,242.24.

Foreign portfolio investors stayed net buyers of Indian equities for the 11th straight session on Wednesday, as they obtained stocks worth Rs 50.57 crore.

Domestic institutional investors stayed net buyers for the fourth session in a row, mopping up equities worth Rs 1,792.15 crore, according to provisional data from the National Stock Exchange.

Earnings To Watch

V-Mart Retail, Godrej Properties, Archean Chemical Industries, Aether Industries, Ami Organics, City Union Bank, Gravita India, Indian Overseas BanK, Jindal Saw, Latent View Analytics, Marico, Newgen Software Technologies, Parag Milk Foods, R R Kabel, Sunteck Realty and Tatva Chintan Pharma Chem.

Earnings Reactions To Watch

Adani Ports Q4 Results (Consolidated, YoY)

• Revenue up 23% At Rs 8,488 crore versus Rs 6,897 crore

• Ebitda up 23.8% At Rs 5,006 crore versus Rs 4,044 crore

• Margin At 59% versus 58.6%

• Net Profit up 47.8% At Rs 3,014 crore versus Rs 2,040 crore

• To pay dividend of Rs 7 per share

• FY26 revenue/Ebitda guidance at Rs 36,000-38000 crore/ Rs 21000- 22,000 crore

Eternal Q4 Results (Consolidated, QoQ)

• Revenue up 7.9% at Rs 5,833 crore versus Rs 5,405 crore (Bloomberg estimate: Rs 5,824 crore).

• Ebitda down 55.6% at Rs 72 crore versus Rs 162 crore (Estimate: Rs 101.7 crore).

• Margin at 1.2% versus 3% (Estimate: 1.7%).

• Net profit down 34% at Rs 39 crore versus Rs 59 crore (Estimate: Rs 42 crore).

• The co expects profit potential in business at a steady rate of 5-6%

• ⁠Adj. EBITDA margin guidance revised upwards to 5-6% of net order value

• ⁠Growth in food delivery remains subdued due to sluggish demand, shortage of delivery partners and competition

• ⁠Shutting down Zomato quick

Adani Enterprises Q4 Results (Consolidated, YoY)

• Total income down 7% at Rs 27602 crore versus Rs 29630 crore

• Ebitda up 19% at Rs 4346 crore versus Rs 3646 crore

• Net profit up 7.5x at Rs 3845 crore versus Rs 449 crore

• One time gain of Rs 3946 crore from 13.5% Adani Wilmar stake sale

• Adani New Industries has started further expansion of solar cell and module lines, additional capacity 6 GW

• Adani New Industries has completed capacity expansion of wind biz to 2.25 GW

• AdaniConnex has completed construction of Noida data center, operational capacity of 10 MW

Nuvoco Vistas Q4 Results (Consolidated, YoY)

• Revenue up 4% at Rs 3042 crore versus Rs 2933 crore

• Ebitda up 12.4% at RS 552 crore versus Rs 491 crore

• Margins at 18.1% versus 16.7%

• Net profit up 65% at Rs 166 crore versus Rs 100 crore

Godrej Agrovet Q4 Results (Consolidated, YoY)

• Revenue down 0.5% to Rs 2,133.64 crore versus Rs 2,144.47 crore.

• Ebitda down 7% to Rs 146.68 crore versus Rs 158.21 crore.

• Margin at 6.9% versus 7.4%.

• Net profit up 1% to Rs 66.10 crore versus Rs 65.48 crore.

Sona BLW Q4 Results (Consolidated, YoY)

• Revenue down 2.2% to Rs 864.75 crore versus Rs 884.12 crore.

• Ebitda down 6% to Rs 231.27 crore versus Rs 246.96 crore.

• Margin at 26.7% versus 27.9%.

• Net profit up 11% to Rs 163.68 crore versus Rs 148.08 crore.

Jindal Steel and Power Q4 Results (Consolidated, YoY)

• Revenue down 2.25% at Rs 13183 crore versus Rs 13486 crore.

• Ebitda down 7.11% at Rs 2271 crore versus Rs 2445 crore.

• Ebitda margin down 90 bps at 17.22% versus 18.12%.

• Net loss at Rs 339 crore versus profit of Rs 935 crore.

• Exceptional loss of Rs 1,229 crore.

Indus Tower Q4 Results (Consolidated, QoQ)

• Revenue up 2.38% at Rs 7727 crore versus Rs 7547 crore.

• Ebitda  down 37.17%  at Rs 4396 crore  versus Rs 6997 crore.

• Ebitda margin down 3582 bps at 56.89% versus 92.71%.

• Net profit down 3.99%  at Rs 1779 crore versus Rs 1853 crore.

JSW Infrastructure Q4 Results (Consolidated, YoY)

• Revenue up 17% to Rs 1,283 crore versus Rs 1,096 crore (Bloomberg estimate: Rs 1,267 crore).

• Ebitda up 10% to Rs 641 crore versus Rs 582 crore (Bloomberg estimate: Rs 637 crore).

• Margin expands to 50% vs 53% (Bloomberg estimate: 50.3%).

• Net profit up 54% to Rs 509 crore versus Rs 330 crore (Bloomberg estimate: Rs 364 crore).

Federal Bank Q4 Results (Standalone, YoY)

• Net interest income up 8% to Rs 2,377 crore versus Rs 2,195 crore.

• Net profit up 13.7% to Rs 1,030 crore versus Rs 906 crore.

• Net interest margin for the quarter at 3.11% versus 3.12%.

• Gross NPA at 1.84% versus 1.95%.

• Net NPA at 0.44% versus 0.49%.

Skipper Q4 Results (Consolidated, YoY)

• Revenue up 11.6% to Rs 1,288 crore versus Rs 1,153 crore.

• Ebitda up 14% to Rs 124 crore versus Rs 108 crore.

• Margin at 9.6% versus 9.4%.

• Net profit up 91% to Rs 48 crore versus Rs 25 crore.

Bandhan Bank Q4 Results (YoY)

• Net profit up 482% to Rs 317.9 crore versus Rs 54.62 crore. (Bloomberg estimate: 467)

• Net Interest Income sees 4% slip at Rs 2,756 crore versus Rs 2,859 crore. (Estimate: 2,880)

• Net Interest Margin for the quarter stood at 6.7%.

• Gross NPA at 4.71% versus 4.68%.

• Net NPA at 1.28% versus 1.11%.

Sundram Fasteners Q4 Results (Consolidated, YoY)

• Revenue up 4.4% to Rs 1,530.59 crore versus Rs 1,466.48 crore.

• Ebitda down 2% to Rs 224.71 crore versus Rs 228.33 crore.

• Margin at 14.7% versus 15.6%.

• Net profit down 7% to Rs 124.49 crore versus Rs 134.41 crore.

Phoenix Mills Q4 Results (Consolidated, YoY)

• Revenue down 22% to Rs 1,016.3 crore vs Rs 1,305.9 crore.

• Ebitda down 11% to Rs 559.7 crore vs Rs 626.7 crore.

• Margin expands to 55.06% vs 47.98%.

• Net profit down 11% to Rs 346.5 crore vs Rs 388.8 crore.

• The board recommended a final dividend of Rs 2.5 per equity share.

Paras Defence and Space Technologies Q4 Results (Consolidated, YoY)

• Revenue up 35.8% to Rs 108.23 crore versus Rs 79.69 crore.

• Ebitda up 131% to Rs 28.29 crore versus Rs 12.25 crore.

• Margin at 26.1% versus 15.4%.

• Net profit up 117% to Rs 20.83 crore versus Rs 9.60 crore.

• Approves splitting each share into two.

LG Balakrishnan Q4 Results (Consolidated, YoY)

• Revenue up 10% at Rs 670 crore versus Rs 607 crore.

• Ebitda up 1% at Rs 102 crore versus Rs 101 crore.

• Margin At 15.2% Vs 16.6%.

• Net Profit up 24% at Rs 84 crore versus Rs 68 crore.

Stocks To Watch

• NCC: The company received orders worth Rs 1,663 crore in April.

• Bank of India: The board approved fund raise of up to Rs 5,000 crore.

• PNB Housing Finance Block Deal: Sources say that the Carlyle Group is to sell entire stake on May 2. Floor price for the deal is Rs 960 – 5% discount to the current market price. Currently the Carlyle group holds 10.4% stake under the name Quality Investment Holdings. IIFL Capital banker to the deal.

• Federal Bank: Signs pact to acquire 4% stake in Ageas Federal Life Insurance Company from Ageas Insurance International NV

• Sanofi Consumer Healthcare India: Promoter sells 50% controlling stake of consumer healthcare business Opella to CD&R. Promoter has retained 48.2% stake in Opella post stake sale.

• Parag Milk Foods: Hikes milk price by Rs 2 per litre on its Gowardhan fresh milk range, effective immediately across all markets. The revision is driven by rising costs of milk procurement. The company president of sales Ajay Singh Barodia states, “This adjustment helps us support our dairy farmers facing increased input costs, while continuing to deliver pure, fresh milk to our consumers.”

• Great Eastern Shipping: The company approved voluntary liquidation of arm Greatship Oilfield Services.

• One 97 Communications: The company arm Incorporates arm Paytm Arab Payments L.L.C In UAE.

• Puravankara: The company to consider raising Rs 300 crore via NCDs.

• UNO Minda: The company to set up greenfield plant for 4-wheeler EV powertrain products.

• Aster DM: The company acquired 1.9 crore shares of Quality Care India for Rs 849 crore. The company completed acquisition of 5% stake in Quality Care India through share swap.

• NITCO: The company received orders for tiles and marble worth Rs 111 crore from Prestige Estates Projects.

• Zaggle Prepaid Ocean Services: The company signed an agreement with Aster DM Healthcare. The agreement is to provide Zaggle Save for Employee expense management & benefits to Aster DM Healthcare.

• CESC: Maharashtra Electricity Regulatory Commission approved power purchase agreement with Tata Power.

• GR Infra: The company arm received construction order of Rs 4,263 crore from NHAI.

• Infosys: The company in an agreement with Yorkshire building society to accelerate digital transformation.

• HAL: Advanced light helicopter Dhruv Army & Air Force versions gets clearance for ops based on DI committee recommendations.

• Moil: Decreases prices For Mn-44% & above ferro grade manganese ore by 5%. Decreases prices Mn-44% & below ferro grade manganese ore by 10%. Decreases prices for all SMGR & fine grades by 15% . Decreases prices for all chemical grades by 10%

• Valor Estates: Arm of step-down unit enters pact with Schreiber Dynamix for the sale of identified assets & contracts of bulk cooler facilitator pacts in favour of Schreiber Dynamix.

• Jubilant Foodworks: Step-down arm Fidesrus enters act to sell entire stake in Russian arm Pizza Restaurants for RUB 100.

• NBCC: Gets order worth Rs 96 crore for renovation work in New Delhi.

• GE Vernova: To supply over 70 units of 765 Kv Transformers & Reactors to Power Grid Corp for renewable power corridors.

• Ola Electric: Deliveries of Roadster X motorcycle to commence in May 2025.

• Varun Beverages: Start commercial production of carbonated soft drinks & packages drinking water at Bihar facility.

• Redtape: Commences commercial operations at its new online warehouse and operations set up i Ludhiana.

• JSW Energy: Arm enters pact with Uttar Pradesh Power Corporation to procure 1,500 MW / 12,000 MWH  pumped hydro energy storage

• HBL Engineering: Gets order worth Rs 146 crore for Kavach project from Western Railway.

• IOC: Cuts ATF price by Rs 3,954.38/kl to Rs 85,486.80/kl in Delhi.

• NMDC: Fixed price of Baila lump at Rs 6,440/Tonne. Fixes price of Baila Fines at Rs 5,500/Tonne.

• Avantel: Board approves fund raise up to Rs 80 crore vis right issue of shares.

• Tata Realty: Completes sale of 65% stake in TRIL Bengaluru Real Estate & TRIL Bengaluru Real Estate Six to TCS. Transfers remaining 35% equity shares & optionally redeemable convertible debentures to TCS.

• NTPC Green: Unit Ircon Renewable Power starts commercial operation effective May 2.

• HCL Technologies: Receives RISE with SAP Validated Partner recognition

• KP Energy: Commissions 23.1 MW Of wind power capacity as a part of a wind- solar- hybrid power project.

• Bazaar Style Retail: Closes a store of Style Baazar at Rourkela in Odisha.

• BPCL: Sanjay Khanna gets additional charge of Chairman, MD with effect from May 1.

• Cosmo First: Commercial production of window films have commenced from May1.

• IREDA: Pradip Kumar Das to continue as Chairman & MD beyond May 5

• Infosys: Completes acquisition of MRA Consulting

• PNB, Indian Bank: Revises MCLR across various tenures.

Media Reports 

• India and New Zealand are set to begin trade talks on Monday, according to a report by Mint.

• Officials from India and Pakistan held discussions regarding ceasefire violations, ANI reported.

• Geo News reported that Pakistan has offered to join India in investigating the recent Kashmir attack.

• Securities and Exchange Board of India chief Tuhin Kanta Pandey told CNBC-TV18 that the regulator wants to make the National Stock Exchange’s initial public offering happen.

• Indian software firm Zoho has suspended its planned $700 million chipmaking venture, Reuters reported.

• India has imposed a 20% export duty on parboiled rice, according to CNBC-TV18.

• India may export up to 800,000 tonnes of sugar this season, PTI cited the country’s food secretary as saying.

April Auto Sales

Escorts Kubota

• Sales fell 1.2% year-on-year to 8,729 units versus 8,839 units.

Hyundai India

• Domestic sales declined 11.6% year-on-year to 44,374 units.

• Exports rose 21.5% year-on-year 16,400 units.

Eicher Motors’ VECV

• Total sales rose 27.3% year-on-year to 5,377 units.

Tata Motors

• Total Sales fell 6.1% year-on-year 72,753 units.

• CV sales fell 8% year-on-year to 27,221 units.

• PV sales of the Nexon maker fell 5% year-on-year to 45,532 units.

• EV sales fell 16% year-on-year to 5,318 units

TVS Motor

• Two-wheeler sales rose 16% year-on-year to 4.3 lakh units.

• Domestic sales rose 7% year-on-year to 3.23 lakh units.

• Exports rose by 46% year-on-year to 1.06 lakh units.

• EV business rose 59% year-on-year to 27,684 units.

• Exports rose 45% year-on-year to 1.16 lakh units.

Maruti Suzuki

• Total domestic car sales rose 0.5% year-on-year to 1,38,704 units

• Sales to other OEMs (Toyota India) rose 79.9% year-on-year to 9,827 units

• Total India sales rose 4.07% year-on-year to 1,51,880 units

• Exports rose 26% year-on-year to 27,911 units

• Passenger vehicle production rose 6.3% year-on-year to 1,76,784 units.

• Total production, including light commercial vehicles, increased 6% to 1,79,956 units. 

JSW MG Motor India

• Sales rose 23% year-on-year to 5,829 units.

Mahindra & Mahindra

• Car sales rose 28% year-on-year to 52,330 units.

• LCV sales rose marginally to 22,989 units year-on-year against 22,102 units.

• Three-wheeler sales fell 1% year-on-year to 5,470 units.

• Total tractor sales rose 8% year-on-year to 40,054 units.

• Domestic tractor sales rose 8% year-on-year to 38,516 units

• Tractor exports rose 25% YoY to 1,538 units

Atul Auto

• Total sales down 13.3% year-on-year to 1,427 units.

VST Tillers

• Total tractors sales at 317 units year-on-year versus 208 units.  

• Total power tiller & tractor sales at 2,320 units year-on-year versus 1,191 units.

• Total power tiller sales at 2,003 units year-on-year versus 923 units.

Hero MotoCorp

• Total sales fell 42.8% year-on-year to 3,05,406 units.

• Motorcycle sales declined 42.4% to 2,86,089 units.

• Scooter sales fell 47.8% to 19,317 units.

• Domestic sales dropped 43.8% to 2,88,524 units.

• Exports declined 16.8% to 16,882 units.

Primary Market Offering

• Ather Energy: The public issue was subscribed to 1.43 times on day 3. The bids were led by non-institutional investors or 0.66 times, retail investors or 1.78 times, reserved for employees or 5.43 times and no bids were qualified by Qualified Institutional Buyers.

Brokerage Radar

Jefferies On Indian Oil Corp

• Maintain ‘buy’ with a hike in target price to Rs 160 from Rs 150.

• Ebitda beat of 81% driven by refining with GRM at a large premium to the benchmark on inventory gains

• With crude down $10 in April, inventory losses are likely in Q1.

• Government didn’t compensate LPG losses in fiscal 2025.

• Refining profitability has weakened, and marketing margins have expanded sharply.

• Raised fiscal 2026 and 2027 Ebitda to 15% and 17%, respectively.

Jefferies On Ajanta Pharma

• Maintain ‘buy’ with a hike in target price to Rs 3,140 from Rs 2,850.

• In-line Q4 for Ajanta and strong outlook for fiscal 2026

• Ebitda margin came short of expectations due to growth-orientated investments.

• India continued to outperform IPM with 13% annual growth.

• Fiscal 2026 guidance pointed to robust growth, with branded generics sales growth in the low teens and US growth in the mid to high teens.

BofA On Bandhan Bank

• Maintain ‘buy’ with a target price of Rs 195.

• Gradual MFI normalisation continues in Q4, with growth set to rebound in fiscal 2026.

• Hits: loan growth run runrate improves, better asset quality trends

• Misses: NIM pressure continues

Click here to read all the top brokerage calls of the day.

Trading Tweaks

• Ex-Dividend: Mold-Tek Packaging, Acme Solar, KSB, ABB India.

• Stocks entering short-term ASM framework: Data Patterns (India), Manorama Industries, Paras Defence and Space Technologies.

• Stocks exiting ASM framework: Liberty Shoes, SMS Lifesciences India, Sanghvi Movers.

F&O Cues

• Nifty May Futures down by 0.18% to 24,380 at a premium of 46 points.

• Nifty May futures open interest up by 2.2%.

• Nifty Options May 8 Expiry: Maximum call open interest at 26,100 and maximum Put open interest at 22,000.

• Put-Call ratio at 1.12, with highest change in Put open interest at 24,350.

• Securities in ban period: RBL Bank.

Monet Market Update

• The Indian rupee closed 74 paise stronger against the US Dollar on Wednesday at 84.49, the highest close since November 2024, in contrast to a weaker close at 85.26 on Tuesday.

• The yield on the benchmark 10-year government bond ended flat at 6.36%.

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