Published on: May 2, 2025
Mahindra & Mahindra (M&M) is set to announce its Q4FY25 results on Monday, May 5, 2025, with analysts projecting strong year-on-year growth across key financial metrics. The Anand Mahindra-led automaker is expected to post a 19.5% rise in revenue to ₹30,097.3 crore and a 15.5% increase in profit after tax to ₹2,310.86 crore, compared to the corresponding period last year.
Brokerage estimates indicate that M&M's earnings before interest, tax, depreciation, and amortisation (EBITDA) could grow 31% YoY to ₹4,166.63 crore, driven by strong performances in both automotive and tractor segments.
Motilal Oswal predicts a revenue increase of 18.1% to ₹29,742.3 crore and a PAT of ₹2,371.7 crore, citing robust SUV and tractor sales. Nuvama expects a 22% revenue jump to ₹30,744 crore and a 34% rise in EBITDA, with improved margins in the farm equipment division. Elara Capital also sees healthy gains, forecasting ₹29,805.7 crore in revenue and 12.4% PAT growth.
Key investor focus will be on the company’s outlook for passenger vehicles, electric vehicles, and tractors, as well as its new product pipeline.
Published on: May 2, 2025
Several key companies including Marico Ltd., Godrej Properties Ltd., and City Union Bank Ltd. are scheduled to report their financial results for the quarter ended March 2025 on Friday. Analysts anticipate mixed performance across sectors, with a close watch on revenue growth, profitability, and operational metrics.
Godrej Properties is forecast to report a slight 1% year-on-year decline in consolidated revenue to ₹1,411 crore and a drop in net profit to ₹364.4 crore from ₹471 crore in the same quarter last year. However, EBITDA is expected to rise to ₹343.8 crore, with an improved margin of 24.4%.
FMCG major Marico is projected to post a 16% increase in revenue to ₹2,656 crore and a modest growth in profit to ₹336.7 crore, up from ₹318 crore.
City Union Bank is estimated to report over 7% revenue growth to ₹771.2 crore and a profit of ₹283 crore for the quarter.
Other companies scheduled to release earnings on May 2 include R R Kabel, Aether Industries, Ami Organics, Gravita India, Jindal Saw, Indian Overseas Bank, Latent View Analytics, Sanofi Consumer Healthcare India, Tatva Chintan Pharma Chem, and Parag Milk Foods.
In addition to Q4 performance, companies are expected to declare dividends and share outlooks for FY2026, with investor attention also on earnings calls for strategic insights.
Published on: May 2, 2025
Indian equity benchmarks closed higher on Friday, marking their third consecutive weekly gain and the longest winning streak of 2025 so far. The BSE Sensex rose 0.32% to 80,501.99, while the NSE Nifty 50 edged up 0.05% to 24,346.7. Earlier in the session, both indices had climbed nearly 1% before trimming gains.
Market sentiment was buoyed by consistent foreign portfolio inflows and renewed hopes of a trade deal between India and the U.S., following signals from former U.S. President Donald Trump regarding potential agreements with India, South Korea, and Japan.
Reliance Industries led the rally with a 9.4% weekly gain—its best in nearly five years—on the back of strong Q4 results and future growth prospects in retail, Jio listing potential, and improved oil-to-chemicals margins.
While 11 of the 13 key sectoral indices advanced, small-cap stocks fell 0.6%, and mid-cap stocks edged up 0.3%. Foreign investors remained net buyers for the 11th straight session, reversing a prior three-month selling trend.
Meanwhile, JSW Steel tumbled 5.5% after the Supreme Court rejected its resolution plan for Bhushan Power and Steel, calling for the liquidation of the long-disputed asset.
Published on: May 2, 2025
NEW DELHI (May 2): Shares of Adani Enterprises Ltd surged over 3% in early trade on Friday after the company announced a sharp 7.5-fold rise in its net profit for the fourth quarter of FY25. The stock rose by 3.14% to ₹2,370 on the BSE and climbed 3% to ₹2,372.40 on the NSE.
The rally reflects investor optimism following the company’s robust financial performance, driven largely by a one-time gain from the sale of its stake in Adani Wilmar, along with strong growth in its solar manufacturing and airport operations. The earnings report has reaffirmed confidence in Adani Enterprises’ diversified and rapidly expanding business portfolio.
Published on: May 2, 2025
Adani Enterprises shares rose by over 2.7% on Friday, reaching ₹2,364 apiece on the NSE, after the company reported a seven-and-a-half-fold jump in its fourth-quarter net profit for FY25. The surge was primarily driven by a one-time gain of ₹3,286 crore from the sale of its stake in Adani Wilmar and strong performance in its solar manufacturing and airports segments.
The company posted a consolidated net profit of ₹3,845 crore for the January-March quarter, compared to ₹450.58 crore a year earlier. After adjusting for the exceptional gain, the net profit still stood strong at ₹1,313 crore, indicating solid operational growth.
Chairman Gautam Adani highlighted the group's strategic direction, stating, "We are building businesses that will define the way forward for India's infrastructure and energy sector." He emphasized that growth across incubating businesses stems from disciplined execution, future-focused investments, and a commitment to innovation and sustainability.
Adani Enterprises' performance reinforced investor confidence, especially as the company scales its presence in high-growth sectors such as green energy, airports, data centers, and mining services — key pillars expected to support India’s long-term infrastructure development.
Published on: May 2, 2025
JSW Steel’s share price plunged over 7% on Friday following a Supreme Court ruling that scrapped its ₹19,700-crore resolution plan for Bhushan Power and Steel Ltd (BPSL) and ordered the liquidation of the indebted company. The apex court’s decision comes four years after JSW Steel completed the acquisition, marking a significant setback in one of India’s largest insolvency resolutions.
According to CNBC-TV18, the court found the resolution plan invalid due to two key violations: failure to meet the execution timeline under insolvency law, and the use of a mix of equity and optionally convertible debentures (OCDs) for the acquisition, instead of pure equity.
JSW Steel had originally acquired a 49% stake in BPSL through the Insolvency and Bankruptcy Code (IBC) process in 2019 and completed the deal in 2021, eventually increasing its stake to 83.3% by October 2021. The acquisition had added 2.75 million tonnes per annum of steel-making capacity and expansion opportunities.
In a clarification to stock exchanges, JSW Steel acknowledged the judgment but noted it had not yet received the formal order. The company said it would consult legal advisors before determining its next steps. The stock exchange has also sought an official clarification from the company regarding the development.
Published on: May 2, 2025
Coal India Ltd (CIL), the country’s largest coal producer, reported a 1.2% year-on-year decline in coal offtake for April 2025, falling to 63.4 million tonnes (MT) from 64.2 MT in the same month last year. The state-owned enterprise disclosed the figures in a regulatory filing on Friday.
While offtake dipped, coal production remained largely flat at 62.1 MT, compared to 61.8 MT in April 2024. Coal offtake refers to the volume of coal dispatched, which can include coal drawn from previous inventories in addition to current production.
In FY24-25, Coal India produced 781.1 MT of coal—nearly 7% short of its 838 MT target. Looking ahead, the company has set an ambitious production goal of 875 MT and offtake of 900 MT for FY25-26 as it aims to strengthen fuel supply amid growing energy demands.
Coal India accounts for over 80% of India’s coal output, playing a crucial role in powering the nation’s electricity and industrial sectors.
Published on: May 2, 2025
In a major setback for JSW Steel, the Supreme Court on May 2 struck down its ₹19,700 crore resolution plan for Bhushan Power and Steel Ltd (BPSL) and directed the company to go into liquidation. The apex court ruled that the resolution plan, though previously approved by the Committee of Creditors (CoC) and upheld by NCLAT, was illegal due to structural flaws and delays in implementation.
The court found fault with JSW Steel’s use of a combination of equity and optionally convertible debentures (OCDs) for the acquisition, which violated the insolvency law requiring the deal to be equity-based. It also cited failure to implement the plan within the prescribed timeframe. JSW Steel had acquired 83.3% stake in BPSL effective October 1, 2021.
Following the verdict, JSW Steel's shares dropped over 6% to trade at ₹965 on the BSE. The company responded, stating that it is awaiting the formal court order and will consult legal advisors before deciding its next steps.
BPSL, with over ₹47,000 crore in outstanding debt, was among the first 12 companies identified by the RBI for insolvency proceedings. The resolution was expected to aid lenders like Punjab National Bank, which had anticipated a recovery of ₹3,800 crore. The Supreme Court’s decision throws fresh uncertainty over the recovery process and the future of BPSL.
Published on: April 30, 2025
India's markets regulator, the Securities and Exchange Board of India (SEBI), has put on hold settlement pleas filed by the Adani Group and its offshore investors as it undertakes a comprehensive review of its internal procedures governing regulatory settlements, according to sources with direct knowledge of the matter.
SEBI is currently reassessing its framework due to concerns over inconsistencies and a lack of clarity in penalties imposed under the existing settlement system. The regulator, which underwent a leadership change in March, expects the review to last up to three months. Only after this period will it consider settlement applications, including those from Adani Group entities.
The Adani Group, which faced intense scrutiny after a 2023 report by U.S.-based short seller Hindenburg Research alleged stock manipulation and misuse of offshore tax havens, is under investigation by SEBI for 24 charges. These include allegations of misclassifying certain shareholders as public despite links to Vinod Adani, the Chairman's brother. Indian law requires that a minimum of 25% of a listed company’s shares be publicly held.
Four group companies—Adani Enterprises, Adani Ports, Adani Energy, and Adani Power—were specifically cited for incorrect shareholder classification. A total of 30 Adani-linked entities have applied for settlements, reportedly proposing to pay fines without correcting the shareholding classifications—an issue SEBI views as non-negotiable for settlement.
In addition to Adani’s filings, SEBI is examining over 300 other settlement applications. However, the Adani-related cases are the most high-profile and sensitive.
The controversy deepened as U.S. authorities also indicted Gautam Adani and top Adani Green executives for alleged bribery and investor misinformation. While an internal company review claims no laws were violated, investor concerns persist.
The final outcome of SEBI’s review could significantly influence how future regulatory violations involving large corporate entities are resolved in India.
Published on: April 30, 2025
The IPO of dyes manufacturer Arunaya Organics continued to see healthy investor interest on Day 2 of its subscription window, with overall bids reaching 96% as of 12:28 PM on Wednesday, April 30, 2025, according to NSE data. The ₹33.99 crore SME IPO, which opened on April 29, will close on May 2.
Retail investors led the momentum with their quota oversubscribed at 1.65 times, while the QIB segment was nearly fully booked at 97%. However, demand from non-institutional investors (NIIs) remained tepid at 22% subscription. In the grey market, the IPO was trading flat at ₹58 — the upper end of the price band — indicating stable but cautious sentiment.
The IPO consists of a fresh issue of ₹30.51 crore and an offer for sale of ₹3.48 crore. Proceeds will be used primarily for setting up a new manufacturing facility in Dahej, Gujarat (₹11.78 crore), and working capital needs (₹9 crore), with the remainder allocated to general corporate purposes.
Retail investors can apply with a minimum investment of ₹1,10,000 (one lot of 2,000 shares), while HNIs need to invest at least ₹2,32,000 for two lots. Bigshare Services is the registrar and Unistone Capital is the lead manager. The allotment is expected to be finalized by May 5, with a tentative listing on the NSE SME platform on May 7.
Established in 2010, Arunaya Organics specializes in a variety of dyes and intermediaries catering to both domestic and export markets. Despite a 17.95% revenue decline in FY24 to ₹62.23 crore, the company reported a robust 133.86% jump in PAT to ₹4.05 crore, reflecting improved margins.
Published on: April 30, 2025
Shares of IndusInd Bank dropped sharply in early trade on Wednesday, April 30, after Managing Director and CEO Sumant Kathpalia tendered his resignation amid mounting concerns over accounting discrepancies in the bank’s derivatives portfolio. At 9:20 am, the stock was trading at ₹816.90 on the NSE, down 2.4%.
In his resignation letter, Kathpalia took “moral responsibility” for the lapses and asked that his resignation be accepted by the close of business on April 30. His departure follows the Reserve Bank of India’s decision to extend his tenure by only one year, despite the bank’s request for a three-year term. Just days earlier, Deputy CEO Arun Khurana also resigned, citing oversight of the Treasury Front Office and the adverse accounting impact on the bank’s profit and loss.
The accounting discrepancies, which relate to internal derivative trades, are expected to negatively impact the bank’s net worth by ₹1,979 crore, or 2.27% on a post-tax basis as of December 2024. The board has announced steps to fix accountability and restructure senior leadership roles.
Following the developments, Emkay Global downgraded IndusInd Bank to ‘Reduce’ from ‘Add’, warning of heightened business disruption, asset quality risks, and a potential deposit outflow. The brokerage also noted the possibility of an RBI-nominated board member and a government-appointed CEO, similar to past interventions at other private banks.
With the search for a new CEO underway — a process expected to take three to six months — analysts foresee a prolonged recovery and a challenging near-term outlook for the lender.
Published on: April 30, 2025
Indian equity markets ended Wednesday’s volatile session on a flat note, as gains in realty and pharma stocks were offset by a sharp sell-off in broader markets and PSU banks. The BSE Sensex slipped 46.14 points (0.06%) to close at 80,242.24, while the NSE Nifty 50 edged lower by 1.75 points (0.01%) to 24,334.20.
Real estate stocks led the rally, with the Nifty Realty index rising 1.91%, driven by gains in Macrotech Developers, Sobha, and Godrej Properties. Pharma stocks also posted gains, with JB Chemicals and Lupin leading the Nifty Pharma index to a 0.44% rise. However, broader market indices underperformed, with the Nifty Smallcap100 and Midcap100 falling 1.71% and 0.85%, respectively, amid profit booking in stocks like Kfin Technologies and Exide Industries.
PSU banks were the worst performers of the day, as the sector's index dropped 2.23%, dragged down by UCO Bank and SBI. Most other sectors also ended in the red, barring Nifty Auto, which posted marginal gains.
Market sentiment was dampened by geopolitical tensions and subdued Q4 results, even as FII inflows and optimism over a possible US-India trade deal had earlier lifted investor confidence. Analysts suggest the market may remain under pressure unless it breaks above the key resistance zone of 24,450–80,500. A breach could pave the way for further upside toward 24,700 and 81,300, but in the near term, a retest of 24,000–79,000 is possible. Traders are advised to stay stock-specific and watch global cues, especially U.S. GDP data and earnings, in the coming days.
Published on: April 30, 2025
State Bank of India (SBI), the country’s largest lender, is expected to deliver a subdued performance for the March quarter of FY25 (Q4FY25), with analysts citing lower treasury income and narrowing margins as key headwinds. The bank is scheduled to announce its results on May 3, 2025.
According to a Moneycontrol poll, SBI’s net interest income (NII) is projected to grow by 5.3% year-on-year to ₹43,872 crore. However, net profit is expected to fall sharply by 13% YoY to ₹17,971 crore, compared to ₹20,698 crore in Q4FY24. A diverse set of analyst estimates suggests potential for stock volatility depending on actual results, with IIFL Capital offering the most optimistic outlook and Kotak Institutional Equities the most cautious.
Kotak analysts anticipate a 34 basis-point drop in net interest margins (NIMs) due to rising funding costs and rate cuts. On the other hand, Phillip Capital expects SBI’s asset quality to remain stable, with the NNPA ratio unchanged at 0.5%. Mirae Asset Sharekhan projects strong loan growth at around 13% YoY.
Investors will focus on management’s guidance for FY26 margins, along with return on equity (RoE) and capital adequacy ratio (CAR). SBI’s stock underperformed in the January–March period, slipping 3%, while the Nifty 50 gained 3%.
Published on: April 30, 2025
Indian benchmark indices ended marginally lower on Wednesday, breaking a two-day winning streak as investors turned cautious ahead of the market holiday. The NSE Nifty 50 closed down by 1.75 points (0.01%) at 24,334.20, while the BSE Sensex dropped 46.14 points (0.06%) to settle at 80,242.24. Intraday volatility was significant, with the Nifty touching a low of 24,198.75 and the Sensex slipping as much as 0.51%.
Gains in heavyweight stocks like HDFC Bank, Bharti Airtel, Maruti Suzuki, Reliance Industries, and HDFC Life offered some cushion, but losses in Bajaj Finance, SBI, Bajaj Finserv, Trent, and Tata Motors dragged the market down. Sector-wise, 11 of 14 NSE indices closed in the red, with PSU Bank and Media sectors leading the decline. Nifty Realty was the standout performer, buoyed by strong gains in Godrej Properties and MacroTech Developers.
On the BSE, 15 of the 21 sectoral indices fell, led by Industrials and Services. Broader markets witnessed a sharp decline as the BSE MidCap lost 0.72% and the SmallCap index fell 1.74%. Market breadth favored sellers, with 2,935 stocks declining versus 977 advancing and 151 remaining unchanged.
Published on: April 30, 2025
Indian equity markets closed on a subdued note Wednesday as rising geopolitical tensions with Pakistan overshadowed positive sentiment from progress in U.S. trade talks. The BSE Sensex dipped by 46.14 points (0.06%) to settle at 80,242.24, while the Nifty 50 edged down 1.75 points (0.01%) to 24,334.20.
Gains in index heavyweight HDFC Bank provided some support to the benchmarks, but Bajaj Finance fell even after posting a higher fourth-quarter profit. Overall investor sentiment remained cautious, leading to a significant drop in market capitalization, which declined by Rs 3.69 lakh crore to Rs 423.24 lakh crore.