Stock Market Today: All You Need To Know Going Into Trade On May 23 Vrathik Jain NDTV Profit

Good morning!

The GIFT Nifty was up 0.03% at 24,692 as of 07:00 a.m., signaling a tepid start to Indian markets today.

Asian shares opened cautiously on Friday, reflecting a tepid start to trading, while US Treasury bonds held onto gains from Thursday amid easing concerns over US fiscal issues that had unsettled markets earlier in the week. 

US equity futures showed mixed movement in early Asian hours following the S&P 500’s slight decline, marking its third consecutive day of losses.

In Japan, inflation accelerated at its fastest pace in two years, driven by rising food and energy prices. The core consumer price index, which excludes fresh food, rose 3.5% year-over-year in April, up from a 3.2% increase in March. The Japanese yen strengthened slightly in response.

Markets On Home Turf

The benchmark equity indices closed lower on Thursday after a day’s respite amid volatility in the domestic stock markets.

The NSE Nifty 50 closed 203.75 points, or 0.82% lower at 24,609.7 and the BSE Sensex ended 644.44 points, or 0.79% lower at 80.951.99.

Foreign portfolio investors turned net sellers of Indian equities after a day of buying on Thursday, as they offloaded stocks worth Rs 5,045.36 crore, according to the provisional data from the National Stock Exchange.

Domestic institutional investors stayed net buyers for the third straight day as they bought equities worth Rs 3,715 crore, the data showed. The FPIs had bought shares worth Rs 2,201.79 crore on Wednesday.

Here’s everything that could influence Indian equities today:

Asian Markets Update

• S&P 500 futures rose 0.026%.

• Hang Seng index futures were marginally up.

• Futures for the Nikkei 225 on the Osaka Exchange rose 0.58%.

• Japan’s Topix index rose by 0.69%.

• Australia’s S&P/ASX 200 index rose 0.29%.

• Euro Stoxx 50 futures were up 0.18%.

Commodity Check

• West Texas Intermediate crude fell 0.44% to trade at $60.93 per barrel.

• Spot gold increased by 0.23% to $3,302.33 per ounce.

London Metal Exchange

• Copper fell 0.35%, reversing gains.

• Nickel was down 0.69%, also erasing gains.

• Aluminium was down 0.63%.

• Zinc was up 0.17%, reversing one-day loss.

• Lead fell 0.20%, extending declines.

US Market Updates

Wall Street struggled to regain confidence following a sharp selloff in US Treasury bonds that rattled markets amid growing fiscal concerns. Stocks fell in the final part of trading, with the S&P 500 declining slightly by less than 0.1%, marking its third consecutive day of losses—the longest losing streak since early April.

Meanwhile, the Nasdaq 100 rose modestly by 0.2%, and the Dow Jones Industrial Average remained largely unchanged.

Nifty Earnings To Watch

• JSW Steel Ltd

Other Earnings To Watch

• Aditya Birla Fashion and Retail

• Afcons Infrastructure

• AIA Engineering

• Anupam Rasayan India

• Apollo Micro Systems

• Ashoka Buildcon

• Ashok Leyland

• Azad Engineering

• Balkrishna Industries

• BEML

• Cello World

• Devyani International

• Dreamfolks Services

• Finolex Industries

• Fusion Finance

• Glenmark Pharmaceuticals

• Gujarat Narmada Valley Fertilizers & Chemicals

• GE Vernova T&D India

• JSW Steel, Jtekt India

• Linde India, Lux Industries

• Narayana Hrudayalaya

• PSP Projects

• Ramco Industries

• Reliance Infrastructure

• Timken India

• West Coast Paper Mills

Sensex Rejig

Trent Ltd. and Bharat Electronics Ltd. will be the new entrants to the 30-stock frontline index Sensex, replacing the crisis-affected IndusInd Bank Ltd. and Nestle India Ltd., as per the rebalancing announced by the BSE on Thursday.

Tata Group’s apparel retailer Trent is expected to receive an inflow of $278 million, or approximately Rs 2,400 crore, which is about 2.5 times its average daily volume, according to the IIFL Alternate Desk.

Bharat Electronics is likely to attract inflows of $275 million, equivalent to 3.1 times its ADV. A favorite among investors in the defence sector, BEL shares have risen nearly 37% over the past six months.

Earnings Post Market Hours

Sun Pharma Q4 FY25 (Consolidated, YoY)

• Revenue up 8% at Rs 12,959 crore versus Rs 11,983 crore (Bloomberg estimate: Rs 13,254 crore)

• Ebitda up 22.4% at Rs 3,716 crore versus Rs 3,035 crore (Bloomberg estimate: Rs 3,650 crore)

• Margin at 28.7% versus 25.3% (Bloomberg estimate: 27.5%)

• Net profit down 19% at Rs 2,154 crore versus Rs 2,659 crore (Bloomberg estimate: Rs 2,794 crore)

• Exceptional Loss of 362 crore vs 102 crore (YoY)

• India formulation sales at Rs. 42,130 million, up 13.6%

• US formulation sales at US$ 464 million, down 2.5%

• Global Specialty sales at US$ 295 million, up 8.6%

• Emerging Markets formulation sales at US$ 261 million, up 6.3%

• Rest of World formulation sales at US$ 200 million, up 2.0%

ITC Q4FY25 Result Highlights (Standalone, YoY)

• Revenue up 9.4% to Rs 17,248.15 crore versus Rs 15,733.6 crore (Bloomberg estimate: Rs 16,980 crore)

• Ebitda up 2.5% to Rs 5,986 crore versus Rs 5,841.5 crore (Bloomberg estimate: Rs 6,018 crore)

• Margin at 34.7% versus 37.1% (Bloomberg estimate: 35.4%)

• Net profit from continued operations up 0.8% to Rs 4,874 crore versus Rs 4,837 crore. (Bloomberg estimate: Rs 4,942 crore)

• Segmental performance

• FMCG business grew 5%

• ⁠Agri business grew 17.7%

• ⁠Paper business grew 5.5%

Honasa Consumer Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue up 13.3% to Rs 533.5 crore versus Rs 471 crore (Bloomberg estimate: Rs 512 crore)

• Ebitda down 17.6% to Rs 27.1 crore versus Rs 32.9 crore (Bloomberg estimate: Rs 17.6 crore)

• Margin at 5.1% versus 7% (Bloomberg estimate: 3.4%)

• Net Profit down 17.8% to Rs 25 crore versus Rs 30.4 crore (Bloomberg estimate: Rs 16 crore)

• EBITDA down due to 20% uptick in other Expenses.

Power Mech Projects Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue up 42.4% at Rs 1,853 crore versus Rs 1,302 crore

• Ebitda down 1.8% at Rs 215.7 crore versus Rs 219.6 crore

• Margin at 11.6% versus 16.9%

• Net profit up 38.7% at Rs 117 crore versus Rs 84.5 crore

• Other Income rose by 60% to 16.73 cr from 10.33 cr.

• EBITDA down due to rise in Contract execution expenses by 60% and employee expenses by 18%.

Grasim Industries Q4 FY25 (Standalone, YoY)

• Revenue up 31.89% at Rs 8925 crore versus Rs 6767 crore.

• Ebitda down 58.17% at Rs 220 crore versus Rs 526 crore.

• Ebitda margin down 530 bps at 2.46% versus 7.77%.

• Net loss at Rs 288 crore versus loss of Rs 441 crore.

• Exceptional loss of Rs 114 crore vs 715 crore.

Metro Brands Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue up 10.3% at Rs 643 crore versus Rs 583 crore (Bloomberg estimate: Rs 645 crore)

• Ebitda up 24.3% at Rs 197 crore versus Rs 159 crore (Bloomberg estimate: Rs 183 crore)

• Margin at 30.7% versus 27.2% (Bloomberg estimate: 28.4%)

• Net Profit down 39% at Rs 94.8 crore versus Rs 155 crore (Bloomberg estimate: Rs 88.6 crore)

• Current Tax Expense of 31 crore vs Tax Credit of 50.79 crore.

Gujarat Petronet Q4 FY25 Earnings Highlights (Standalone, QoQ)

• Revenue down 8.6% at Rs 238 crore versus Rs 260 crore

• Ebitda down 35.2% at Rs 125 crore versus Rs 193 crore

• Margin at 52.4% versus 74%

• Net Profit down 47.8% at Rs 70.7 crore versus Rs 136 crore

TBO TEK Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue up 20.9% at Rs 446 crore versus Rs 369 crore

• Ebitda up 2.6% at Rs 64.7 crore versus Rs 63.1 crore

• Margin at 14.5% versus 17.1%

• Net Profit up 21.2% at Rs 58.9 crore versus Rs 48.6 crore

Ramco Cements Q4FY25 Results Highlights (Consolidated, YoY)

• Revenue down 10.5% at Rs 2,397 crore versus Rs 2,678 crore

• Ebitda down 23.8% at Rs 319 crore versus Rs 419 crore

• Margin at 13.3% versus 15.6%

• Net profit down 78.8% at Rs 27.4 crore versus Rs 129 crore

• Exceptional Gain of Rs 10.8 crore in Q4 FY25

Gandhar Oil Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue up 2.4% at Rs 962 crore versus Rs 939 crore

• Ebitda up 0.3% at Rs 33.6 crore versus Rs 33.5 crore

• Margin at 3.5% versus 3.6%

• Net profit up 27.5% at Rs 11.6 crore versus Rs 9.1 crore

MTAR Technologies Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue up 28.1% at Rs 183 crore versus Rs 142.9 crore

• Ebitda up 86.3% at Rs 34.1 crore versus Rs 18.3 crore

• Margin at 18.6% versus 12.8%

• Net Profit at Rs 13.7 crore versus Rs 4.8 crore

Centum Electronics Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue up 28.8% at Rs 365.6 crore versus Rs 283.8 crore

• Ebitda at Rs 38.3 crore versus Rs 5 crore

• Margin at 10.5% versus 1.8%

• Net Profit at Rs 21.5 crore versus a loss of Rs 6.8 crore

• Exceptional gain of Rs 4.4 crore vs Loss of Rs 4.8 crore.

• Deferred tax credit of Rs 7.4 crore vs 1.4 crore.

Greenpanel Industries Q4 FY25 Results Highlights (YoY)

• Revenue down 5.6% at Rs 374.5 crore versus Rs 396.5 crore

• Ebitda down 6.9% at Rs 47.9 crore versus Rs 51.5 crore

• Margin at 12.8% versus 13%

• Net Profit down 1.4% at Rs 29.4 crore versus Rs 29.8 crore

Deepak Fertilisers and Petrochemicals Corporation Q4 Highlights (Consolidated, YoY)

• Revenue up 27.9% to Rs 2,667.35 crore versus Rs 2,086.28 crore.

• Ebitda up 10% to Rs 479.99 crore versus Rs 437.89 crore.

• Margin at 18.0% versus 21.0%.

• Net Profit up 23% to Rs 277.24 crore versus Rs 225.12 crore.

• To pay dividend of Rs 10 per share.

HFCL Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue down 39.6% at Rs 801 crore versus Rs 1,326 crore

• Ebitda loss at Rs 36 crore versus a profit of Rs 195.7 crore

• Net loss at Rs 81.4 crore versus a profit of Rs 110 crore

Premier Explosives Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue down 14.7% at Rs 74.1 crore versus Rs 86.8 crore

• Ebitda down 39.8% at Rs 9.6 crore versus Rs 15.9 crore

• Margin at 12.9% versus 18.3%

• Net profit down 44.7% at Rs 3.7 crore versus Rs 6.8 crore

MTAR Technologies Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue up 28.1% at Rs 183 crore versus Rs 142.9 crore

• Ebitda up 86.3% at Rs 34.1 crore versus Rs 18.3 crore

• Margin at 18.6% versus 12.8%

• Net profit down at Rs 13.7 crore versus Rs 4.8 crore

Gandhar Oil Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue up 2.4% at Rs 962 crore versus Rs 939 crore

• Ebitda up 0.3% at Rs 33.6 crore versus Rs 33.5 crore

• Margin at 3.5% versus 3.6%

• Net profit up 27.5% at Rs 11.6 crore versus Rs 9.1 crore

• Re-appoint Ramesh Parekh, Chairman as MD for five years effective Sept. 20, 2030.

Max Estates Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue up 32.6% at Rs 39.8 crore versus Rs 30 crore

• Ebitda up 16.2% at Rs 9.1 crore versus Rs 7.8 crore

• Margin at 22.8% versus 26%

• Net profit at Rs 17.3 crore versus loss of Rs 1.5 crore

GMR Airports Q4 FY25 Results Highlights (Consolidated, YoY)

• Revenue up 17% at Rs 2,863 crore versus Rs 2,447 crore

• Ebitda up 24% at Rs 1,012 crore versus Rs 817 crore

• Margin at 35.3% versus 33.4%

• Net loss of Rs 253 crore versus loss of Rs 168 crore

Stocks In News

• Adani Ports: The company is set to raise up to Rs 6,000 crore via NCDs on a private placement basis for capex/refinancing of existing debt and general corporate purposes.

• Emcure Pharma: The company to incorporate wholly owned subsidiary Emcure Generics in Pune.

• Adani Green: Promoter Ardour to convert 54.7 lakh warrants into shares out of a balance of 3.55 crore convertible warrants.

• Tega Industries: The company arm signed a business sale pact for the sale of its business to step-down unit Losugen. The transaction is done to streamline business operations and achieve greater synergies.

• Jubilant Agri and Consumer Products: The company expands product portfolio with imported ammonium phosphate sulphate.

• Firstsource Solutions: The company partnered with Sanas to enable next-level customer conversation with AI. Sanas is a real-time speech understanding platform.

• TVS Motor: The company signed an MoU with OOR Cabs, a technology-driven mobility platform, to supply 500 TVS King EV MAX electric three-wheelers during the financial year 2025-26.

• Tata Steel: The company inaugurates Phase II expansion of Kalinganagar operations. The annual capacity of the state-of-the-art facility in Odisha jumps from 3 to 8 million tonnes with an investment of Rs 27,000 crore.

• Trent, Bharat Electronics will be added to the 30-stock frontline index Sensex, replacing IndusInd Bank and Nestle India, according to the rebalancing announced by the BSE on Thursday. The changes will come into effect on June 23, 2025.

• Hindustan Copper: The company is considering raising up to Rs 500 crore via bonds or unsecured NCDs on May 27.

• Blue Jet Healthcare: The company informed that the Deputy Commissioner of State Tax, Mumbai, has initiated a search/inspection at the registered office, plants, and warehouse of the Company. The company is cooperating with the officials and is responding to all the clarifications and details sought by them.

• GTL Infrastructure: The company received a tax demand of Rs 38 crore from Lucknow GST Body.

• Andrew Yule & Co: The company sells up to a 2% stake in Veedol Corporation via offer for sale. Veedol Corp offer a sale floor price at Rs 1,566 per share.

• UltraTech Cement: The company arm India Cements completes a de-bottlenecking initiative at Banswara Cement Works in Rajasthan. Debottlenecking is done to raise capacity by 0.3 million tonnes per year.

• Equitas SFB: The company to consider raising funds via QIP or other means on May 30.

• JK Lakshmi: The company is in a power purchase agreement with SPV to purchase solar power under applicable captive laws. The company acquired a 26% stake in SPV.

• Piramal Enterprises: The company is considering raising funds via NCDs on a private placement basis in 2 separate series.

• Ola Electric: The company is set to raise up to Rs 1,700 crore via NCDs or other securities on a private placement basis.

Bulk Deals

• TD Power: Goldman Sachs Funds – Goldman Sachs India Equity Portfolio bought 10.93 lakh shares (0.7%) at Rs 460 apiece, Blend Fund 2 bought 13.04 lakh shares (0.83%) at Rs 460 apiece, Nikhil Kumar sold 45 lakh shares (2.88%) at Rs 460.95 apiece, Saphire Finman Services LLP sold 33 lakh shares (2.11%) at Rs 461.41 apiece, Lavanya Sankaran sold 16 lakh shares (1.02%) at Rs 463.28 apiece, Hitoshi Matsuo sold 21 lakh shares (1.34%) at Rs 460.09 apiece.

IPO Offering

• Belrise Industries: The public issue was subscribed to 2.89 times on day 2. The bids were led by qualified institutional investors (0.69 times), non-institutional investors (8.96 times), retail investors (1.54 times).

• Borana Weaves: The public issue was subscribed to 148.78 times on day 3. The bids were led by qualified institutional investors (87.21 times), non-institutional investors (237.42 times), retail investors (200.53 times).

Insider Trades

• Thirumalai Chemicals: Promoter Narayan Santhanam sold 13,500 shares.

• Westlife Foodworld: Promoter Banwari Lal Jatia Jointly with Ushadevi Jatia bought 1.5 lakh shares, Promoter Achal Exim Private Limited sold 1.61 lakh shares.

• Rajoo Engineers: Promoter Devyani Chandrakant Doshi sold 60,000 shares.

Trading Tweaks

• Price Band change from 20% to 10%: Premier Explosives

• Price Band change from 10% to 5%: Kriti Industries (India)

• Ex-Dividend: Sula Vineyards, Havells, Himadri Speciality Chemical, LTIMindtree, CMS Info Systems and Keystone Realtors.

• Ex-Right Issue: Mahindra Lifespace Developers, SEPC.

• Ex-Bonus Issue: BSE (2:1)

• Ex-Buy Back Issue: Dhampur Sugar Mills.

• Shares to Exit Anchor Lock-in: Venus Pipes.

F&O Cues

• Nifty May Futures down by 0.67% to 24,655 at a premium of 46 points.

• Nifty May futures open interest down by 3.13%.

• Nifty Options May 29 Expiry: Maximum call open interest at 26,000 and maximum Put open interest at 24,000.

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

Currency Update 

The Indian rupee fell by 37 paise to close at 86.01 against the US dollar on Thursday, marking its lowest level since April 11. The rupee had closed at 85.64 per dollar on Wednesday.

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