Published on: May 9, 2025
Larsen & Toubro (L&T) shares surged 5% to ₹3,477.55 on the BSE during Friday's intra-day trade, outperforming the broader market, as the BSE Sensex slipped 0.98%. The rally came on the back of a strong operational performance in Q4FY25, with net profit rising 25% YoY to ₹5,497.3 crore, aided by higher revenues and an exceptional gain. Revenue climbed 10.9% YoY to ₹74,392 crore, while EBITDA rose 13% to ₹8,203 crore, with a stable margin of 11%.
The company announced a final dividend of ₹34 per share for FY25, up from ₹28 last year.
L&T reported Q4FY25 order inflows of ₹89,613 crore, up 24% YoY, with international orders contributing 70%. The consolidated order book stood at ₹5.79 trillion, up 22% YoY, as global and domestic infrastructure investments continued to flow in. During FY25, the company secured ₹3.56 trillion worth of new orders.
Despite global volatility, L&T management remains optimistic about India's resilient economic environment and rising private investments in areas like energy transition and real estate. The company continues to target profitable, return-accretive growth, especially in the GCC region.
ICICI Securities and Motilal Oswal remain bullish on the stock. ICICI sees L&T as its top capex play among large-cap industrials, citing execution strength and order diversity. Motilal Oswal maintains a 'BUY' rating with a revised target price of ₹3,950, factoring in robust core growth and healthy return ratios.
Published on: May 9, 2025
Larsen & Toubro (L&T) shares surged 4.2% on Friday, hitting a day’s high of Rs 3,460 on the BSE, after the engineering and infrastructure major reported a 25% year-on-year (YoY) rise in consolidated net profit to Rs 5,497 crore for the fourth quarter of FY25. Revenue for the quarter ending March 31 stood at Rs 74,392 crore, up 11% YoY from Rs 67,079 crore in the same period last year.
For the full FY25, L&T’s PAT grew 15% to Rs 15,037 crore, while total revenue rose 16% to Rs 2,55,734 crore. The company also announced a final dividend of Rs 34 per equity share, with June 3, 2025, set as the record date.
Operationally, EBITDA for Q4FY25 grew 13% YoY to Rs 8,203 crore, and margins expanded 20 basis points to 11%. L&T also posted record order inflows of Rs 3,56,631 crore for the year, an 18% YoY increase, with international orders comprising 58% of the total. In Q4 alone, L&T secured Rs 89,613 crore worth of new orders, with Rs 62,739 crore (70%) coming from overseas markets.
Chairman and MD S.N. Subrahmanyan called it a year of “outstanding performance,” highlighting the company’s highest-ever order inflows and steady progress in digitalisation and operational efficiency.
Published on: May 9, 2025
Domestic Institutional Investors (DIIs) have increased their ownership in the Nifty-50 to a historic high of 23.6% as of March 2025, up 240 basis points (YoY) and 40 bps (QoQ), according to a new report by Motilal Oswal Financial Services. Similarly, DII holdings in the Nifty-500 touched a record 19.2%, reflecting a growing domestic appetite for Indian equities amid declining participation from Foreign Institutional Investors (FIIs).
FIIs, meanwhile, have trimmed their holdings for the fourth consecutive quarter, now standing at 24.7% in the Nifty-500, down 50 bps YoY and 20 bps QoQ. FIIs reduced stakes in over 80% of Nifty-500 stocks, while DIIs raised exposure in 42 Nifty-50 firms YoY and 41 on a quarterly basis.
Notable gainers in DII holdings included Axis Bank, IndusInd Bank, Dr. Reddy’s Labs, HDFC Life, Kotak Mahindra Bank, and Eicher Motors, all seeing a YoY increase of over 4%. In contrast, Hindalco and Bharat Electronics saw over a 1% drop in DII ownership. FIIs notably cut stakes in Maruti Suzuki, L&T, Kotak Mahindra Bank, HDFC Life, Dr. Reddy’s, and Trent by more than 4% YoY.
The FII-DII ownership ratio in the Nifty-500 narrowed to an all-time low of 1x, signaling a shift in market dynamics. The ratio expanded marginally in sectors like NBFC Non-Lending, Media, Infra, EMS, and Telecom, but contracted in Technology, PSU Banks, Consumer, and Oil & Gas.
Sector-wise, FIIs remained heavily overweight in BFSI, which now makes up 34.4% of their Nifty-500 allocation, followed by Technology (10%), Automobiles (6.9%), and Healthcare (6.5%). DIIs, on the other hand, showed preference for Consumer, Oil & Gas, and Metals, while being underweight on Private Banks, NBFCs, and Real Estate.
The report also highlighted the top DII holdings by value: HDFC Bank, ITC, ICICI Bank, Reliance Industries, and Infosys, which continue to anchor domestic institutional portfolios.
Published on: May 8, 2025
Shares of TVS Motor Company fell by 3.19% to Rs 2,706.00 in today’s trading session, making it one of the day’s significant losers. Despite the short-term dip, the company’s financial performance remains strong, showing consistent revenue and profit growth over the past five years. TVS Motor’s annual revenue surged from Rs 19,420.82 crore in 2021 to Rs 44,089.01 crore in 2025, with net profit rising from Rs 615.25 crore to Rs 2,453.93 crore during the same period.
Quarterly results for the March 2025 period reported revenue of Rs 11,542 crore, with net profit reaching Rs 713.57 crore, signaling strong operational performance. The company's balance sheet reflects a healthy financial position, with total assets growing from Rs 21,992 crore in 2021 to Rs 47,936 crore in 2025. Key ratios like Return on Equity (ROE) have also improved, reaching 26.29% in 2025.
While today’s stock price drop caught investor attention, the bullish market sentiment around TVS Motor, bolstered by its impressive growth trajectory, indicates positive long-term prospects. Investors will likely be watching closely to see if the company’s strong fundamentals outweigh short-term market fluctuations.
Published on: May 8, 2025
Shares of Tata Motors climbed up to 3% on May 8, boosted by reports of a potential US-UK trade deal that could benefit the company’s luxury car unit, Jaguar Land Rover (JLR). According to sources cited by the New York Times, US President Donald Trump is expected to announce a major trade agreement with the UK, which is likely to include lower tariff quotas on autos, a move that could positively impact JLR's revenue, as nearly 20% of its sales come from the US market.
The announcement comes on the heels of Tata Motors’ stock rally earlier in the week following the India-UK Free Trade Agreement (FTA), which includes provisions for significantly reduced import tariffs on premium cars in India, benefiting Tata’s luxury vehicle business. Additionally, Tata Motors' proposal to split the company into two separate listed entities—one for passenger vehicles and the other for commercial vehicles—was approved by shareholders with overwhelming support.
This restructuring move is seen as an effort to unlock growth potential for the company’s luxury segment and commercial vehicle business, especially with JLR’s performance in focus.
Published on: May 8, 2025
India and the UK have signed a landmark Free Trade Agreement (FTA) that significantly reduces tariffs on a wide range of goods, benefiting industries from automobiles and alcoholic beverages to textiles and medical devices. After three years of negotiations, the deal opens up India’s traditionally protected sectors to British companies, while offering Indian exporters greater access to the UK market with reduced levies on 99% of products.
Key highlights of the pact include:
Car imports from the UK will see tariffs slashed from 110% to 10% over ten years, potentially benefiting UK-based manufacturers like Jaguar Land Rover, Bentley, and Aston Martin, while Indian automakers like Maruti Suzuki and Mahindra brace for more competition.
Liquor tariffs on UK whiskey and gin will be halved initially and brought down to 40% over a decade. Diageo, maker of Johnnie Walker, stands to gain, though Indian premium liquor firms like Radico Khaitan may face growth headwinds.
Textile exports to the UK, currently India’s second-largest export segment to the region, are set to surge, with firms like Gokaldas Exports and Welspun Living seeing strong stock market gains.
Medical devices and financial services will also benefit, with lower export costs for Indian medical firms and improved ease of doing business for UK fintech companies in India.
The FTA is expected to double bilateral trade from $21 billion in FY24 in the coming years and set a strong precedent for India’s future trade negotiations with the EU and US. While the pact offers long-term benefits, some domestic sectors may experience short-term disruptions as competition rises.
Published on: May 8, 2025
Chennai-based Manoj Jewellers is set to finalise the allotment of shares for its SME IPO on Thursday, May 8, 2025, after the public issue closed on May 7 with a modest subscription of 1.14 times. The ₹16.63 crore IPO, comprising a fresh issue of 3 million equity shares at ₹54 apiece, received a subdued response from investors, indicating lukewarm interest in the offering.
Investors can check their allotment status on the BSE website or the portal of registrar Skyline Financial Services once the process is completed. The IPO did not include any offer for sale (OFS) component, and the proceeds are earmarked for repayment of borrowings and general corporate purposes.
As per grey market reports, Manoj Jewellers IPO GMP (Grey Market Premium) remained at ₹0, pointing to a flat listing scenario. The shares are likely to be listed on the BSE SME platform on Monday, May 12, 2025.
Manoj Jewellers, known for its BIS-hallmarked gold and diamond offerings, operates from Sowcarpet, Chennai. The firm offers a blend of traditional and modern jewellery designs in 22KT gold and silver and emphasizes strict quality control to ensure customer satisfaction.
Published on: May 8, 2025
Mumbai, May 9 – Indian equity benchmarks opened higher on Thursday's weekly expiry, buoyed by the US Federal Reserve's decision to maintain interest rates and despite continued Indo-Pak tensions. The BSE Sensex rose 133.18 points to 80,879.96, while the Nifty50 gained 25.15 points to open at 24,439.55. Broader markets also edged up, with the smallcap index leading the gains.
Among early Nifty50 gainers were Tata Motors, Power Grid, Coal India, Kotak Mahindra Bank, and Axis Bank, while Dr. Reddy’s, Tata Consumer, ITC, Hindalco, and Eternal traded in the red.
Sector-wise performance was mixed. While financial services, IT, and banking stocks traded higher, sectors like FMCG, Pharma, Metal, and Realty showed weakness, reflecting investor caution amid geopolitical uncertainty and global macro headwinds.
Key stocks in focus included Voltas, which posted a 113% YoY jump in Q4 net profit, beating expectations. Coal India saw investor interest after reporting solid operational metrics. Asian Paints is expected to announce its Q4 results later today, with analysts predicting a 15% YoY decline in profit. Tata Motors also gained on optimism surrounding a potential UK-US trade deal.
In the Asian markets, sentiment remained cautious following the Fed's rate pause and warning about persistent inflation risks and uncertain job market trends. The Fed’s stance of keeping rates steady comes amid lingering concerns over economic direction and recent protectionist trade signals from former President Donald Trump.
Published on: May 8, 2025
Mumbai, May 8 – Coal India shares surged up to 1.98% in early trade on Thursday, opening at ₹390.95 apiece after the state-owned miner reported a 12% year-on-year rise in consolidated net profit to ₹9,593 crore for the March 2025 quarter. The stock closed the previous session at ₹383.30.
Despite a 1% decline in revenue to ₹37,825 crore, the company’s strong EBITDA performance and better-than-expected e-auction premiums (69% vs 55% estimated) supported investor sentiment. A final dividend of ₹5.15 per share for FY25 was also announced. Raw coal production declined 1.7% YoY, while offtake saw sequential improvement, aided by a 12.1% QoQ rise in e-auction volumes.
Brokerages remain optimistic. Emkay Global retained a ‘Buy’ rating with a target of ₹475, citing undemanding valuations and strong cash generation. Hensex Securities suggested that a breakout above ₹396 could send the stock toward ₹420 in the short term, advising both existing holders and new investors to consider positions with a stop loss at ₹368.
The company’s net cash rose 5.7% YoY to ₹25,300 crore, further bolstering confidence in its financial resilience and dividend-paying ability.
Published on: May 8, 2025
Mumbai, May 8 – Shares of Coal India rose as much as 2.9% to ₹394.80 on the BSE on Thursday after the state-run miner posted a 12% year-on-year increase in consolidated net profit to ₹9,593 crore for the March 2025 quarter, compared to ₹8,530 crore in Q4 FY24. The gain came despite a marginal 1% dip in revenue to ₹37,825 crore, as lower employee costs helped support profitability.
Raw coal production fell 1.7% YoY to 237.69 million tonnes, reflecting operational and seasonal challenges, though coal offtake remained steady at around 201 million tonnes, indicating sustained demand from power and industrial sectors.
Brokerage views were mixed. Nuvama maintained a 'Hold' rating with a target of ₹405, citing limited earnings growth but highlighting an attractive 6.5% dividend yield. Motilal Oswal, however, retained a 'Buy' rating with a target of ₹480, optimistic about Coal India’s expansion in coal washer capacity and an expected 8% volume CAGR from FY25–27.
Coal India’s stock closed 1.4% higher at ₹383.80 on Wednesday. While it has declined around 12% in the past six months, it has surged 62% over the last two years, with a current market cap of ₹2.36 lakh crore.
Published on: May 8, 2025
Mumbai, May 8 – Indian equity benchmarks Sensex and Nifty ended Thursday’s session in the red as escalating geopolitical tensions between India and Pakistan rattled investor confidence. The Sensex fell 0.51% to close at 80,334.81, while the Nifty declined 0.58% to settle at 24,273.80. Volatility spiked, with the India VIX rising to 10.21%, reflecting growing anxiety in the market.
Concerns surged after reports of Pakistan’s air defense systems being damaged in Sialkot and Lahore, and intensified ceasefire violations along the Line of Control. This led to widespread profit-taking across sectors, with investors fearing a potential military escalation between the nuclear-armed neighbors.
Broader markets saw steeper losses. The BSE Midcap index slumped 1.9%, and the Smallcap index fell 1%. Notable smallcap losers included Avalon, Renaissance Global, and CCL Products, while midcap underperformers featured Torrent Power, Jubilant FoodWorks, and Paytm.
Most sectoral indices ended lower, with sharp declines in metal, oil & gas, pharma, PSU banks, and realty. IT and media stocks were among the few gainers. On the Sensex, HCL Tech, Axis Bank, and Titan were top performers, while Eicher Motors, M&M, and Tata Steel dragged the index lower.
In currency markets, the rupee depreciated sharply by 1.1% to 85.79 against the U.S. dollar, marking its steepest drop since February 2022. Meanwhile, panic also hit the Pakistan Stock Exchange, which triggered a one-hour trading halt after plunging over 7% intraday.
Published on: May 8, 2025
New Delhi, May 8 – India's top telecom companies—Reliance Jio, Bharti Airtel, and Vodafone Idea—came into focus on Thursday after the Telecom Regulatory Authority of India (TRAI) released March-end subscriber data, highlighting steady growth for market leaders. Reliance Jio maintained its top position with 465.10 million wireless broadband subscribers, while Bharti Airtel followed with 280.76 million users. Together, the two giants held nearly 79% of the country’s wireless broadband market.
Vodafone Idea retained its third spot with a stagnant subscriber base of 126.40 million, reflecting its ongoing financial struggles. State-owned BSNL remained a distant fourth, continuing to lose ground due to its delayed 4G rollout and growing competition.
India’s total wireless subscriber base rose by 0.28% in March to 1,163.76 million, with rural areas leading growth at 0.49% compared to 0.06% in urban regions. Mobile number portability (MNP) remained active, with 13.54 million requests filed in March, underscoring persistent churn and rivalry in the sector.
The country’s 5G fixed wireless access (FWA) user base also saw an uptick, rising to 6.77 million in March, led by Jio and Airtel’s rapid expansion, although operator-specific data wasn’t disclosed.
In Wednesday's trade, Bharti Airtel’s shares slipped 0.3% to ₹1,895.95, Vodafone Idea gained 0.7% to ₹6.93, and Reliance Industries, Jio’s parent firm, dropped 1% to ₹1,406 on the BSE.
Published on: May 8, 2025
Mumbai, May 8 – A wave of corporate earnings is set to drive market sentiment today as 74 major companies, including industry giants Larsen & Toubro, Britannia Industries, Bharat Forge, Asian Paints, and Titan, are scheduled to release their fourth-quarter (Q4 FY25) and full-year (FY25) financial results. The performance of these companies, covering sectors from infrastructure and FMCG to finance and entertainment, will provide crucial insights into the broader economic recovery.
According to analysts, construction behemoth Larsen & Toubro is expected to report a 16% year-on-year jump in revenue to ₹77,789 crore, with profit after tax (PAT) likely rising 13.2% to ₹4,870 crore. In contrast, Britannia is projected to see a 2.65% decline in PAT at ₹523.6 crore for the quarter, down from ₹538 crore a year earlier.
Other notable companies releasing results today include Pidilite Industries, Zee Entertainment, MCX, Kalyan Jewellers, IIFL Finance, and Union Bank of India. The results come amid heightened market sensitivity to global cues such as the U.S. Federal Reserve's rate stance and domestic geopolitical developments following India’s recent strikes on terror targets in Pakistan and PoK.
On May 7, Indian equity benchmarks ended marginally higher, with the Sensex closing up 105.71 points and the Nifty gaining 34.80 points. Broader markets outperformed, and market sentiment today will be closely tied to earnings outcomes and global macroeconomic signals.
Published on: May 8, 2025
New Delhi, May 8 – The National Stock Exchange (NSE), India’s largest bourse, has reportedly approached the Ministry of Finance, seeking intervention in its long-delayed initial public offering (IPO) approval, according to a Reuters report. The move comes after SEBI once again declined to issue a No Objection Certificate (NOC) in March, despite multiple applications since 2019. NSE, however, has denied any formal communication with the government over the past 30 months regarding the IPO.
The standoff between NSE and the market regulator has intensified, with NSE alleging that SEBI is delaying key approvals, raising governance issues, and unfairly favoring rival BSE in regulatory decisions. SEBI, under its new chairperson Tuhin Kanta Pandey, has maintained that all concerns must be resolved before clearing the IPO and emphasized that commercial interests will not override public interest.
Key investors, including LIC, SBI, Morgan Stanley, and Canada Pension Plan Investment Board, are awaiting an exit through the IPO, which has been stalled since 2016 due to regulatory hurdles and governance-related controversies. The latest dispute centers around SEBI’s objections to NSE’s top management appointment processes and board composition, which NSE claims comply with existing norms.
Published on: May 8, 2025
Mumbai, May 8 – Indian benchmark indices Sensex and Nifty opened higher on Thursday but quickly turned volatile as investors reacted cautiously to escalating geopolitical tensions. The market sentiment was shaken following India's missile strikes on Wednesday targeting nine terrorist hideouts of Jaish-e-Mohammad and Lashkar-e-Taiba in Pakistan and Pakistan-occupied Kashmir (PoK).
The 25-minute-long precision operation, described by officials as "measured and non-escalatory," was a direct response to the Pahalgam massacre. With investors adopting a wait-and-watch approach, trading remained largely subdued throughout the session.