Published on: May 21, 2025
Sterlite Electric announced on Wednesday that it secured orders worth Rs 7,500 crore during the fiscal year 2024-25, led by a robust Rs 2,400 crore in contracts in the March quarter. The company’s order book includes high-performance conductors, power cables, Optical Ground Wire (OPGW), and specialized EPC services, all aimed at advancing India’s green energy transmission infrastructure.
The company has expanded its global footprint significantly, with growing demand in the Americas, European Union, Africa, and the Middle East for its high-performance conductors and OPGW solutions.
CEO Reshu Madan highlighted the strong Q4 performance as a testament to the rising demand for Sterlite’s innovative and sustainable transmission solutions. The company won several prestigious orders in Q4, including tariff-based competitive bidding (TBCB) projects and EPC contracts vital for renewable energy evacuation to the grid. The OPGW segment saw repeat orders from Power Grid Corporation of India (PGCIL) and state utilities, along with increased export traction in Europe and the Middle East.
Headquartered in Gurugram, Sterlite Electric, formerly Sterlite Power Transmission, is a global leader in cable conductors and extra-high voltage infrastructure, with a presence in over 70 countries, powering critical power infrastructure worldwide.
Published on: May 21, 2025
Shares of Sun Pharmaceutical Industries saw a positive movement in today’s trading session, climbing 1.34% to Rs 1,730.70, reflecting growing investor confidence in the pharmaceutical leader. As a key constituent of the Nifty 50 index, Sun Pharma’s performance remains closely monitored by market participants for its stability and growth prospects in the sector.
The company has demonstrated steady growth across its quarterly and annual financial metrics. Revenue rose consistently from Rs 11,982.90 crore in March 2024 to Rs 13,675.46 crore in December 2024. Net profits followed a similar upward trend, with Rs 2,917.54 crore recorded in December 2024. Earnings per share (EPS) increased steadily, reaching 12.10 in the latest quarter.
On an annual basis, Sun Pharma’s revenue expanded from Rs 32,837.50 crore in 2020 to Rs 48,496.85 crore in 2024, while net profit surged from Rs 4,186.79 crore to Rs 9,648.44 crore during the same period. The company also improved its return on equity (ROE) to approximately 15%, reflecting efficient capital use. Its debt-to-equity ratio remains low at 0.04, underscoring strong financial health.
Financial ratios indicate robust market valuation with a P/E ratio of 40.62 and P/B ratio of 6.11 as of March 2024. The company’s income statement shows rising EBIT and net profits, supported by growing total income and controlled expenditures.
Sun Pharmaceutical’s cash flow also improved significantly, with net cash flow reaching Rs 4,661 crore in March 2024, driven primarily by strong operating activities.
The company’s balance sheet reflects solid reserves and a healthy asset base, supporting its long-term growth potential. With consistent financial performance and positive market sentiment, Sun Pharmaceutical continues to strengthen its foothold in India’s pharmaceutical sector.
Published on: May 21, 2025
NEW DELHI: Power and banking sector stocks led a strong rally on Monday morning as benchmark indices surged sharply. At 11:05 AM, the BSE Sensex jumped 756.3 points to 79,309.5, while the NSE Nifty50 rose 243.15 points to 24,094.8, buoyed by robust buying across sectors.
In the power sector, top performers included Adani Power Ltd. (up 5.52%), Suzlon Energy Ltd. (up 4.60%), GE Vernova T&D India Ltd. (up 4.07%), Inox Wind Ltd. (up 3.78%), and Tata Power Company Ltd. (up 2.76%). The positive momentum was partially offset by losses in NTPC Green Energy Ltd. (down 0.44%) and PTC India Ltd. (down 0.14%).
Among Nifty50 constituents, IndusInd Bank Ltd. led the gains with a 5.59% rise, followed by Axis Bank Ltd. and Tech Mahindra Ltd., both up 3.73%. Other notable gainers included Bajaj Finserv Ltd. (up 3.43%), State Bank of India (up 2.95%), and JSW Steel Ltd. (up 2.78%).
On the downside, Adani Ports & SEZ Ltd. fell 2.13%, while HDFC Life Insurance, ITC, Hindustan Unilever, and Britannia Industries also traded lower, reflecting slight weakness in FMCG and pharma sectors.
The broader market sentiment remained positive, driven by strong buying in cyclical sectors, expectations of continued domestic economic resilience, and robust Q4 earnings across key sectors.
Published on: May 21, 2025
Tata Consultancy Services (TCS), India’s largest IT services firm, announced it has received an add-on Advance Purchase Order (APO) worth approximately ₹2,903 crore from Bharat Sanchar Nigam Limited (BSNL) to support the state-run telecom operator’s nationwide 4G network rollout. This follows a major ₹15,000 crore contract secured in 2023 by a TCS-led consortium.
Under this new APO, TCS will handle the planning, engineering, supply, installation, testing, commissioning, and annual maintenance of 4G infrastructure at 18,685 sites across India. BSNL will issue detailed purchase orders after completion of certain conditions and documentation.
Tejas Networks, another Tata Group company, confirmed in a separate filing that it will supply and maintain Radio Access Network (RAN) equipment for the project under its Master Contract with TCS. The expected value of its contribution is approximately ₹1,525.53 crore, excluding taxes. Tejas was also a key player in the 2023 contract, supplying RAN equipment across the network.
This development comes on the heels of TCS reporting a Q4 FY25 net profit of ₹12,224 crore, down 1.7% year-on-year due to margin pressures, while revenue rose 5.3% to ₹64,479 crore. For FY25, TCS reported a net profit of ₹48,553 crore and revenue of ₹2,55,324 crore, reflecting 5.99% annual growth.
The BSNL order reinforces TCS’s growing role in India’s digital infrastructure and telecom transformation, contributing significantly to the government's push for enhanced 4G connectivity nationwide.
Published on: May 21, 2025
Tata Sons Ltd, the holding entity of the $150 billion Tata Group, may be compelled to infuse fresh capital into its struggling telecom subsidiary, Tata Teleservices Ltd (TTSL), as the latter faces a mounting burden of ₹19,256 crore in adjusted gross revenue (AGR) dues, payable to the central government by March 2026.
TTSL’s negative net worth of ₹17,876 crore and persistent losses — including a FY25 net loss of ₹994 crore on revenues of ₹3,626 crore — leave the company financially incapable of meeting its obligations without external support. Sources indicate that Tata Sons has issued a letter of comfort to back these payments, reiterating its commitment to financially support the telecom arm.
The Supreme Court recently dismissed petitions by Vodafone Idea, Bharti Airtel, and TTSL that sought relief from paying interest, penalties, and related AGR components, branding their pleas as “misconceived.” However, it left open the possibility of government intervention for further relief.
CARE Ratings, in a past note, warned about the impending AGR liabilities post the end of the four-year moratorium in March 2026, highlighting that Tata Sons had already infused ₹46,595 crore into TTSL by June 2019. As of March 2025, the total AGR dues have risen to ₹19,256 crore, up from ₹17,830 crore a year earlier — split between ₹14,463 crore under TTSL and ₹3,367 crore under Tata Teleservices Maharashtra Ltd (TTML).
TTSL’s retained losses stand at ₹84,655 crore on a consolidated basis for FY25, signaling the continued distress within India's telecom sector, despite government-led relief measures offering only temporary stability.
Published on: May 21, 2025
On Wednesday, May 21, over 120 companies are scheduled to release their Q4 and full-year FY25 financial results, including key names like InterGlobe Aviation (IndiGo), IndusInd Bank, Power Finance Corporation (PFC), ONGC, NTPC Green, Rail Vikas Nigam Ltd (RVNL), and Colgate Palmolive (India). The results will offer critical insights into sectoral performance and corporate health in the final quarter of FY25.
IndiGo, operated by InterGlobe Aviation, is expected to report strong quarterly revenue growth, aided by high passenger load factors, improved yields, and operational efficiency. The airline, which has surged 22.2% in share value in 2025 YTD, will also discuss a potential dividend payout during its board meeting.
In contrast, IndusInd Bank is under pressure, with analysts anticipating a net loss due to a ₹2,000 crore hit from accounting lapses in its derivatives portfolio. Market participants will closely watch the bank's earnings for transparency and future guidance.
Other companies set to report include IRCON International, H.G. Infra Engineering, Oil India, Star Cement, and VA Tech Wabag, among others.
Meanwhile, on May 20, Indian equity markets saw a sharp correction. The BSE Sensex fell by 872.98 points (1.06%) to close at 81,186.44, and the Nifty50 dropped 261.55 points (1.05%) to settle at 24,683.90, primarily due to FII outflows exceeding ₹10,000 crore.
Market sentiment on Wednesday is expected to remain cautious, influenced by earnings disclosures, foreign institutional investor activity, developments in the US-India trade discussions, and global cues.
Published on: May 21, 2025
State-owned Power Finance Corporation (PFC) reported an 11% year-on-year (YoY) increase in consolidated net profit at ₹8,357.88 crore for the March quarter (Q4FY25), compared to ₹7,556.43 crore in the same period last year. The growth was largely attributed to higher interest income, which surged to ₹28,676.15 crore, up from ₹23,891.19 crore a year ago.
Total income for the quarter stood at ₹29,285.45 crore, marking a significant rise from ₹24,176.34 crore in Q4FY24.
For the full financial year FY25, PFC's consolidated net profit rose 15% to ₹30,514.40 crore, while total income jumped to ₹1,06,598.70 crore, up from ₹91,174.87 crore in the previous year.
The Board of Directors has recommended a final dividend of ₹2.05 per share, in addition to ₹13.75 per share already paid during the year in four tranches. The record date for the final dividend has been set as Friday, June 13, 2025, and the payment will be made within 30 days of shareholder approval at the upcoming Annual General Meeting (AGM).
PFC continues to benefit from strong credit demand in India’s power and infrastructure sectors, with interest income remaining its primary earnings driver.
Published on: May 21, 2025
InterGlobe Aviation Ltd, the operator of IndiGo Airlines, reported a 62% year-on-year rise in consolidated net profit at ₹3,067.5 crore for the fourth quarter of FY25, driven by robust domestic passenger demand. Revenue from operations increased 24% YoY to ₹22,151.9 crore, while earnings before interest, tax, depreciation, amortisation, and rent (Ebitdar) surged 57% to ₹6,948.2 crore with improved margins of 31.4%.
Passenger ticket sales jumped 25.4% to ₹19,567.3 crore, and ancillary revenue rose 25.2% to ₹2,152.5 crore. Load factor improved to 87.4%, and IndiGo carried 27.77 million passengers, up from 23.59 million a year ago, securing a dominant 64.3% domestic market share. The airline operated a peak of 2,304 daily flights, though its fleet size slightly declined to 434 aircraft.
For the full year FY25, IndiGo posted a net profit of ₹7,258.4 crore, down 11% YoY, even as annual revenue rose 17% to ₹80,802.9 crore. The fall in yearly profit was attributed to higher costs, including elevated fuel prices. Cost per available seat kilometre (CASK) stood at ₹4.51, while revenue per ASK (RASK) was ₹5.26.
Despite a 30.3% YoY rise in total debt to ₹66,809.8 crore, the airline’s cash reserves rose 38.7% to ₹48,170.5 crore, including ₹33,153.1 crore in free cash, boosting liquidity strength.
The board recommended a ₹10 per share dividend, subject to shareholder approval at the upcoming AGM. Ahead of the results, InterGlobe Aviation shares closed 0.37% higher at ₹5,465.65 on the BSE.
Published on: May 21, 2025
Bharat Electronics Ltd (BEL) surged to a record intraday high of ₹379.90 on May 21, 2025, gaining 4% on the BSE, supported by strong volumes and a positive outlook driven by a robust order book and healthy Q4 earnings. As of 10:43 AM, BEL shares were trading 3.9% higher at ₹378, outpacing the 0.95% rise in the BSE Sensex. Around 37.66 million shares were traded across NSE and BSE combined.
In the past two weeks, BEL stock has rallied 24%, rebounding 51% from its April 7 low of ₹252.25. The sharp recovery reflects growing investor confidence in the company's performance and future prospects.
BEL reported a 15% year-on-year (YoY) increase in net profit at ₹2,127 crore in Q4FY25, with revenue rising 6% YoY to ₹9,149.59 crore. The company’s order book stood at ₹71,650 crore as of April 1, 2025, including $359 million in export orders. In FY25, BEL secured orders worth ₹18,715 crore, including major defence contracts like the Electronic Warfare Suite for Mi-17 V5 helicopters, radars, anti-drone systems, and software-defined radios.
The company estimates ₹27,000 crore in order inflows for FY26, excluding the anticipated ₹30,000 crore QRSAM order, which may be booked in late FY26 or early FY27. BEL has guided for 15% revenue growth and 27% EBITDA margins for FY26, backed by increasing indigenisation, strong execution capability, and rising government defence spending under ‘Atmanirbhar Bharat’.
Brokerage firm JM Financial reiterated a ‘Buy’ rating on BEL with a revised target price of ₹405 (up from ₹360), valuing the stock at 45x FY27E EPS. Analysts cited the company’s solid order pipeline, margin stability, export potential, diversification efforts, and steady capex of ₹1,000 crore/year as key growth drivers.
Founded in 1954, BEL is a Navratna PSU under the Ministry of Defence, and a dominant player in India's defence electronics space. With nine manufacturing units and two R&D centres, BEL continues to play a critical role in advancing India’s self-reliance in defence technologies.
Published on: May 21, 2025
Spot silver prices rallied to $33 on May 20, marking their highest level since May 13, buoyed by a weaker US Dollar, strong gold momentum, and rising economic and geopolitical uncertainties. The metal was up around 2% intraday, while the MCX July contract jumped to ₹97,280, also up 2%.
The surge comes amid global central bank rate cuts, including China’s PBoC lowering both its one-year and five-year Loan Prime Rates by 10 bps, and Australia’s RBA cutting rates by 25 bps to 3.85%, a two-year low. These moves have stoked market expectations of further monetary easing and inflationary pressures.
Geopolitical tensions are also mounting. Iran reaffirmed its uranium enrichment as “non-negotiable,” while Israel's PM Netanyahu signaled a full takeover of Gaza with plans for aggressive military action against Hamas. Meanwhile, Trump’s talks with Putin failed to yield progress on the Russia-Ukraine ceasefire, raising fears of prolonged instability in Europe.
In parallel, Japan’s PM Ishiba warned of a looming fiscal crisis, citing debt levels exceeding 250% of GDP and borrowing costs at a 20-year high. These warnings added to market anxiety, even as JP Morgan CEO Jamie Dimon cautioned against rising complacency amid a fragile global backdrop.
Despite a rise in US Treasury yields, the US Dollar Index fell 0.30% to 10.111, further boosting precious metals. Hedge funds trimmed their net-long silver positions to a three-week low, but silver ETF holdings remain up over 2% year-to-date.
With resistance seen at $33.11 and $33.53, silver could aim for $34 (₹100,000 on MCX) if momentum holds. Support lies at $32 (₹94,300), but a retreat in gold could limit further gains. Traders are now eyeing the US S&P Global manufacturing and services PMI data due on May 22 for further cues.
Published on: May 21, 2025
Aegis Vopak Terminals Ltd, a subsidiary of Aegis Logistics Ltd, announced on May 21 that it has set a price band of ₹223 to ₹235 per share for its upcoming ₹2,800-crore initial public offering (IPO). The public issue will open for subscription on May 26, 2025, and close on May 28, 2025.
The IPO will also include a separate bidding window for anchor investors on May 23, ahead of the general subscription period. The offering marks a major move by Aegis Vopak to strengthen its market presence and raise capital for future expansion.
Aegis Vopak Terminals is engaged in providing bulk liquid, gas storage, and distribution services, and this IPO is expected to attract significant investor interest given the company’s strategic importance in India’s energy logistics sector.
Published on: May 21, 2025
Shares of JK Tyre & Industries Ltd. witnessed a sharp recovery on May 21, 2025, climbing over 10% from the day's low and trading 5.6% higher at ₹363 per share by 10:14 AM on the BSE. The stock hit an intraday high of ₹367.75 and a low of ₹333.55. This volatility followed the announcement of the company’s Q4FY25 results, released after market hours on May 20.
The tyre major reported a 41% year-on-year (YoY) decline in consolidated net profit to ₹102 crore from ₹175 crore a year ago. However, profit rose 79% sequentially from ₹57 crore in Q3FY25, providing some optimism to investors.
JK Tyre’s total income grew 2% YoY to ₹3,780 crore, while EBITDA stood at ₹384 crore, down 23% YoY but up 15% quarter-on-quarter. The EBITDA margin came in at 10.2%, compared to 13.4% a year ago and 9.1% in the previous quarter.
At 10:15 AM, the company’s market capitalisation stood at ₹9,946.93 crore. The stock remains significantly below its 52-week high of ₹510.9, though well above its 52-week low of ₹231.65.
JK Tyre, a leader in the Indian Truck/Bus radial segment, operates 11 sustainable manufacturing facilities—9 in India and 2 in Mexico—producing around 35 million tyres annually. With a global presence in 105 countries and a strong domestic dealer network, the company continues to focus on innovation and market expansion despite current earnings pressure.
Published on: May 20, 2025
Shares of Protean eGov Technologies tumbled further on Tuesday, May 20, 2025, falling 14.18% to ₹981, extending Monday’s 20% lower circuit. The stock has now declined 30% in two sessions, hitting its lowest level since June 2024, and is down 46% year-to-date—far underperforming the BSE Sensex, which is down 4.8% over the same period.
The sharp sell-off follows the company's disclosure on Sunday that it was not selected by the Income Tax Department to proceed in the bidding process for the PAN 2.0 Project, a major government initiative to overhaul the Permanent Account Number (PAN) infrastructure. The project involves appointing a managed service provider to oversee the design, development, operations, and maintenance of the new PAN ecosystem. Despite this setback, the company assured that there would be no significant impact on its current PAN operations under the existing agreement with the department.
Following the announcement, Equirius Securities downgraded the stock to ‘sell’ with a revised target price of ₹900. Among six analysts tracking the company (per Bloomberg), four maintain a ‘buy’, one holds, and one recommends ‘sell’, indicating a shift in sentiment amid execution risk concerns.
Protean eGov Technologies, formerly NSDL e-Governance Infrastructure, is a key player in India’s digital public infrastructure, offering services in e-taxation, digital identity, online payments, and data management for various government projects. It plays a pivotal role in India’s digital transformation across sectors such as education, healthcare, and public welfare. The company's market capitalisation currently stands at ₹4,242.56 crore.
Investor confidence has been shaken by the missed opportunity in a strategically critical project, raising questions about future growth visibility and competitive positioning in the e-governance space.
Published on: May 20, 2025
Rail Vikas Nigam Limited (RVNL) shares rose sharply by 3.94% to ₹448 in early trade on Tuesday, May 20, 2025, after the company announced it had emerged as the lowest bidder (L1) for a ₹178.64 crore project from IRCON International. However, the stock quickly reversed gains, dropping 7.28% from the day’s high to a low of ₹415.35. At 10:30 AM, it was trading at ₹416.35, down 3.40%.
The project involves extensive signalling and telecommunications works at 10 new stations—including Surakachhar, Katghora Road, and Dhangawan—along with six Intermediate Block Sections (IBSs) and installation of Electronic Interlocking (EI) systems. It also includes the deployment of a new Section Control System, telephone exchange, and EIMWB systems in the Gevra Road–Pendra Road section. Modifications to existing interlocking setups at Kusmunda Block Station and SECL SILO Siding are also part of the scope. The completion timeline is set at 11 months, including the monsoon period.
Founded in 2003 and headquartered in New Delhi, RVNL plays a pivotal role in rail infrastructure development across India—ranging from new lines and doubling to metro projects and bridges. It also assists in financial resource mobilisation and serves key clients like Indian Railways and various government departments.
As of the latest update, RVNL's market capitalisation stood at ₹87,153.84 crore, placing it within the BSE200 index. While the initial announcement triggered optimism, the subsequent profit booking and broader market softness—BSE Sensex was down 0.24%—tempered gains, reflecting mixed investor sentiment.
Published on: May 20, 2025
Bitcoin (BTC) is approaching a new all-time high, buoyed by institutional interest and improving market dynamics. On May 20, BTC was trading at $106,273.30, up 3.18%, according to CoinMarketCap. It flirted with the $106,800 level in intraday moves but faces stiff resistance around $107,000 before it can surpass its record high of $109,114.88.
Analysts highlight that the rally is underpinned by strong technical fundamentals and sustained inflows into Bitcoin spot ETFs, which have seen five consecutive weeks of gains totaling over $600 million, led by BlackRock’s IBIT. Riya Sehgal of Delta Exchange noted this rise is driven by "healthier market dynamics, not speculative excess," with added momentum from JPMorgan’s entry into spot Bitcoin ETF offerings.
Vikram Subburaj, CEO of Giottus, said Bitcoin must maintain support above $105,000 to break higher. With $360 million in ETF inflows just yesterday, a push toward $110,000 this month is on the table, he added.
Ethereum (ETH) also surged, up 8% to $2,566.46, having broken through key resistance at $2,500. Analysts expect it to test the $2,650–$2,840 range next. Trading volume stood at $26.7 billion, reinforcing bullish sentiment.
Altcoins joined the uptrend:
• Solana (SOL): +3.89%
• Cardano (ADA): +3.15%
• Binance Coin (BNB): +2.18%
• Ripple (XRP): +1.8%
• Tether (USDT): stable at $1
Overall, analysts believe the latest momentum reflects a maturing cryptocurrency ecosystem, with institutional adoption and strong technical setups providing a solid foundation for sustained growth in Bitcoin, Ethereum, and the broader altcoin market.