Published on: April 30, 2025
Vedanta Ltd is exploring the possibility of an initial public offering (IPO) for its Zambia-based Konkola Copper Mines (KCM) as part of its long-term strategy to unlock value from the high-grade copper and cobalt asset, Chief Financial Officer Ajay Goel revealed in an exclusive interview with Moneycontrol on April 30. While no final decision has been made, the IPO remains a viable route to raise $1 billion in funding for ramping up copper production.
KCM, wholly owned by Vedanta Resources, holds 16 million tonnes of copper reserves and resources with a copper content exceeding 2.4% — making it one of the richest copper deposits globally. The company also aims to develop KCM into a major cobalt producer, with reserves and resources of 412,000 tonnes, potentially placing it among the world’s top five.
Goel emphasized that the focus is on making the mine fully operational and achieving its nameplate capacity before considering capital market options like an IPO. Reuters previously reported that Vedanta Resources had engaged Barclays and Citigroup as advisors for a possible U.S. public listing of KCM.
The planned $1 billion investment will fund the expansion of copper output to 300,000 metric tonnes per year over five years, aligning with the growing global demand for copper and cobalt, driven by the clean energy transition and the rise of electric vehicles.
Published on: April 30, 2025
Vedanta Ltd, led by Anil Agarwal, announced its Q4FY25 earnings on Wednesday, reporting its highest-ever consolidated revenue at ₹39,789 crore, surpassing analyst expectations of ₹38,365 crore. This marks a 12% rise from ₹35,510 crore in the same quarter last year. Net profit for the quarter rose sharply by 118% year-on-year to ₹4,961 crore, though it fell short of some market estimates.
Operationally, the company delivered an EBITDA of ₹11,618 crore, up 30% YoY and 2% QoQ, beating Zee Business research projections of ₹10,813 crore. EBITDA margin stood at 35%, improving by 465 basis points year-on-year — the best in the last 12 quarters.
Vedanta also made progress in reducing leverage, with CFO Ajay Goel highlighting a $500 million debt reduction during the quarter. The net debt now stands at ₹53,251 crore with a Net Debt/EBITDA ratio improving to 1.2x from 1.4x in Q3FY25.
Following the results, Vedanta’s stock ended the day up 0.67% at ₹419.15 on the BSE. Investors will now look forward to updates on the company's demerger plans and continued deleveraging efforts.
Published on: April 30, 2025
As the Q4 earnings season gains momentum, Vedanta is set to announce its March quarter results on Wednesday alongside 51 other companies, including Adani Power, IOC, and Varun Beverages. Analysts expect Vedanta to post a strong year-on-year (YoY) growth in net profit, ranging from 116% to 141%, with profit estimates between ₹3,287 crore and ₹5,340 crore. Revenue is projected to rise between 6.5% and 11% YoY, potentially touching ₹39,173 crore, according to brokerage estimates from Nuvama, ICICI Securities, Kotak Institutional Equities, and Motilal Oswal.
Despite the expected YoY surge, the company may report a sequential decline in profit due to cost pressures, particularly in the aluminum segment. Margins are likely to compress on account of higher alumina input costs and fluctuating commodity prices. Nuvama anticipates a 5% QoQ increase in aluminum cost of production (CoP), while zinc CoP is expected to decline 2%. The firm also forecasts a QoQ EBITDA decline across aluminum, power, and oil & gas segments, offset marginally by improvements in domestic and international zinc.
Kotak estimates Vedanta's Q4 PAT to fall 7% QoQ despite the YoY surge, highlighting the impact of input costs and pricing volatility. Investors will closely watch management’s commentary on the company’s demerger roadmap and debt reduction plans, which could influence sentiment going forward.
Published on: April 30, 2025
In Wednesday’s trading session, several NIFTY 50 stocks witnessed sharp declines, with Bajaj Finserv and Bajaj Finance leading the pack. Bajaj Finserv fell by 6.06% to ₹1,941.60, while Bajaj Finance dropped 5.11% to ₹8,628.50, dragging the benchmark index lower. Tata Motors (-3.11%), Trent (-3.09%), and State Bank of India (-2.68%) also featured among the top losers.
Despite today's selloff, both Bajaj Finserv and Bajaj Finance posted robust financial results in the March 2025 quarter. Bajaj Finserv's consolidated revenue climbed to ₹36,595 crore, with net profit at ₹4,747 crore, and EPS improving to ₹15.10. Similarly, Bajaj Finance reported consolidated revenue of ₹18,457 crore and net profit of ₹4,537 crore, marking strong growth across earnings metrics with EPS rising to ₹72.35.
The divergence between financial performance and stock price movement suggests investor concerns may stem from broader market sentiment, valuation pressures, or sector-specific factors impacting financials. These stock declines weighed on the overall NIFTY 50 index performance, underlining the impact of heavyweight constituents on broader market direction.
Published on: April 30, 2025
JSW MG Motor India, the country’s second-largest electric passenger carmaker, is set to raise between $300–350 million (₹2,500–₹2,980 crore) from institutional investors to fuel its next phase of growth, sources familiar with the matter revealed. The fundraising effort is aimed at climate-conscious private equity funds and sovereign wealth entities.
This marks the company’s first external equity raise since Sajjan Jindal-led JSW Group entered into a $1.5 billion joint venture with Chinese auto giant SAIC, owner of MG Motor India, in March 2024. The capital infusion will be used to expand JSW MG’s electric vehicle model lineup and scale up manufacturing capacity to meet growing demand in India's EV market.
The move underscores JSW MG's aggressive growth strategy and ambition to strengthen its footprint in the green mobility space, aligning with India’s broader push for sustainable transportation solutions.
Published on: April 30, 2025
Shares of Tejas Networks declined 5% to ₹696 on Wednesday, extending their losing streak to six consecutive sessions following disappointing Q4FY25 results. The stock has fallen 22% in the last six trading days and is down 53% from its 52-week high of ₹1,495.10 hit on June 24, 2024. As of 1:08 PM, it was trading at ₹701.50, down 4%, even as the BSE Sensex showed marginal gains.
In Q4FY25, the Tata Group-backed telecom equipment manufacturer posted a consolidated net loss of ₹71.8 crore, a stark contrast to the net profit of ₹146.78 crore reported in the same quarter of the previous year. While revenue jumped 54.2% year-on-year to ₹1,806 crore, the company’s order book shrank significantly to ₹1,019 crore from ₹2,681 crore in Q3FY25, raising concerns about future growth visibility.
Despite the weak bottom line, management remains optimistic, citing robust domestic and global growth prospects, multiple new customer wins, and strategic partnerships, including a collaboration with NEC Corporation for advanced wireless technologies. However, Tejas will need to make milestone-based payments of approximately USD 60 million to NEC over the next year, adding to financial pressures.
ICRA warned that Tejas' profit margins could come under strain due to moderation in operating income and foreign exchange risks. Analysts suggest that order book recovery and margin sustainability will be key metrics to watch in the coming quarters.
Tejas Networks, which operates in over 75 countries, develops cutting-edge telecom solutions for 4G/5G, optical, satellite, and routing applications and is a key player in India’s push for self-reliance under the Atmanirbhar Bharat initiative.
Published on: April 30, 2025
Shares of HDFC Life Insurance Company surged 4% to hit a six-month high of ₹741.20 on the BSE during Wednesday’s intra-day trade, buoyed by a strong Q4FY25 earnings report and optimistic growth projections. This is the stock's highest level since October 30, 2024, and comes close to its all-time high of ₹775.65 from September 2021.
For the quarter ended March 31, 2025, HDFC Life posted a standalone net profit of ₹475 crore, marking a 16% year-on-year (YoY) rise, while net premium income also climbed 16% YoY to ₹23,766 crore. The company recorded 9.7% YoY growth in Annualised Premium Equivalent (APE), reaching ₹5,186 crore. Management highlighted strong growth in individual APE, market share gains, and robust performance across all distribution channels.
Looking ahead to FY26, HDFC Life expects stable margins despite cooling ULIP demand, while guaranteed products and credit life are likely to drive growth. The company is also set to add 100 more branches and continue tech investments under "Project Inspire."
Brokerages remain bullish: JM Financial maintained a ‘Buy’ rating with a target of ₹850, while Elara Capital upgraded the stock to ‘Buy’ with a higher target of ₹870, citing stronger-than-expected APE and VNB growth potential driven by distribution expansion. However, analysts flagged regulatory changes and segmental slowdowns as key risks.
Published on: April 29, 2025
Adani Green Energy Ltd announced on Monday that an independent review by external law firms found no evidence of non-compliance or irregularities related to U.S. bribery allegations involving its founder Gautam Adani and senior executives. The review was conducted in response to a U.S. Department of Justice (DOJ) indictment and a Securities and Exchange Commission (SEC) civil complaint accusing Adani Green executives of participating in a $265 million bribery scheme to secure energy contracts.
The renewable energy company stated that the review was commissioned to uphold good governance and confirmed that neither the holding company nor its subsidiaries violated any applicable laws. The management concluded that the ongoing U.S. proceedings are not expected to materially impact the group’s operations or financials.
As part of its fourth-quarter financial disclosures, Adani Green also announced the reappointment of Vneet Jaain as Managing Director for another five-year term starting July 10. Despite the legal scrutiny, the company emphasized stability and confidence in its leadership and governance framework.
Published on: April 29, 2025
Reliance Retail Ventures Ltd. reported a modest 2.5% year-on-year rise in net profit to ₹3,545 crore for the March 2025 quarter, even as revenue declined 1.2% sequentially to ₹78,622 crore, primarily due to a high base and festive-led performance in the previous quarter. Ebitda dropped 1.8% quarter-on-quarter to ₹6,510 crore, with margins slightly narrowing to 8.5%.
In FY25, Reliance Retail added 500 new stores but closed 2,159 underperforming outlets as part of a margin-focused rationalisation strategy ahead of a potential IPO. The total store count stood at 19,340 with 77.4 million sq. ft. of retail space. Annual net profit rose 11.3% to ₹12,388 crore on revenue of ₹2.9 lakh crore, up 6.5% year-on-year.
Digital and new commerce segments contributed 18% to total revenue, while the grocery segment emerged as the top performer, witnessing a surge in demand for premium offerings like healthy snacks and specialty coffee. The fashion and lifestyle vertical saw a strong rebound in H2, supported by festival and wedding season demand and the launch of Shein on AJIO.
The consumer brands division clocked ₹11,450 crore in sales in its second operational year, with over 60% through general trade. Brands like Campa and Independence gained significant market share, and the company is expanding to the Middle East.
Reliance's quick commerce under JioMart scaled operations to 4,000+ pin codes and reported a 2.4x quarter-on-quarter growth in daily orders. CFO Dinesh Taluja emphasized that the model is already profitable, citing Reliance’s ability to leverage its existing retail infrastructure to reduce incremental delivery costs.
Published on: April 29, 2025
Vedanta Ltd announced on Tuesday, April 29, that it has rolled out a suite of cutting-edge technologies across its operations to build high-performance, future-ready workplaces. Among the key innovations are Artificial Intelligence (AI)-led monitoring systems, drones, smart helmets, fatigue detection systems, and tele-remote operations—all aimed at enhancing productivity and workplace safety.
The company’s move reflects a broader industrial shift toward digitisation and automation, as AI, robotics, and wearable tech increasingly reshape traditional work environments. Vedanta highlighted that these tools are playing a pivotal role in transforming operational efficiency and industrial safety standards.
As industries grapple with the dual demands of efficiency and safety, Vedanta’s technology-led strategy positions it at the forefront of workplace innovation in India’s resource and infrastructure sectors.
Published on: April 29, 2025
In a continued series of performance-based terminations, Infosys has dismissed 195 trainees from its Mysuru training facility after they failed to clear internal assessments, according to a report by Moneycontrol. This marks the fourth round of such layoffs, bringing the total number of impacted trainees to approximately 800 since February 2025.
Earlier, Infosys had let go of 240 trainees in April, 45 in March, and nearly 300 in February for similar reasons. All trainees were reportedly given three attempts to pass the company's internal assessments as part of the ‘Generic Foundation Training Program,’ along with additional preparation resources, mock tests, and doubt-clearing sessions.
The termination emails, sent on April 29, stated that those who failed to meet the qualifying criteria could not proceed in the apprenticeship program. Infosys has offered affected trainees free upskilling programs through NIIT and UpGrad, with 250 enrolling so far, and 150 availing outplacement services.
The company emphasized that performance evaluations are a key part of the training process, and that each trainee joins under a registered apprenticeship with clearly communicated expectations and assessment policies, including negative marking. Responding to allegations of unethical layoffs, the Karnataka Labour Department clarified in February that these were not layoffs under labour law definitions, as trainees were not regular employees but apprentices.
Infosys defended its stance, asserting transparency in its evaluation criteria and reiterating its support to affected individuals through severance pay, counselling, and proper documentation. The developments follow a weak Q4 earnings report, where Infosys narrowed its FY26 revenue growth forecast to 0–3%, down from the earlier projected 4.5–5%.
Published on: April 29, 2025
Shares of Gensol Engineering Ltd., a troubled EPC and clean energy player, fell to their 5% lower circuit at ₹86.50 on Tuesday, April 29, amid intensifying regulatory scrutiny. The Enforcement Directorate (ED) conducted search and seizure operations at the company’s offices in Ahmedabad and Gurugram on April 27 under the Foreign Exchange Management Act (FEMA), 1999, and the Income Tax Act, 1961.
Documents, digital devices, and financial records were seized, and orders were issued to Axis Bank, HDFC, and ICICI Bank, though specific details remain undisclosed. The development follows a regulatory filing in which Gensol admitted the financial impact of the ED action remains unclear.
CFO Jabir Mahendi M Aga stated that the company is pursuing legal remedies. The raids coincide with a SEBI interim order dated April 15, 2025, barring promoters Anmol Singh Jaggi and Puneet Singh Jaggi from accessing the securities market due to alleged fund diversion and corporate governance violations.
SEBI's probe indicated that company funds were used for personal expenditures, prompting further investigations by the ED and the Ministry of Corporate Affairs. Gensol’s finances are now under examination for potential violations of the Prevention of Money Laundering Act. The stock has plunged over 50% this month, reflecting investor concerns over mounting legal and financial headwinds.
Published on: April 29, 2025
Shares of Gensol Engineering Ltd hit a 5% lower circuit at ₹82.20 during early trade on Tuesday on the BSE, following news of enforcement action by the Directorate. The company confirmed in an exchange filing that the Enforcement Directorate (ED) carried out search operations at its premises in Ahmedabad and Gurgaon under the Foreign Exchange Management Act (FEMA), 1999.
During the raids, the ED seized multiple documents, electronic devices, and financial records as part of an ongoing investigation. While Gensol has yet to comment on the nature or extent of the probe, the market reacted swiftly, triggering a sharp decline in the stock price. The company stated it is cooperating with the authorities and will provide updates as the investigation progresses.
Published on: April 29, 2025
HDFC Bank Ltd has witnessed a remarkable surge in its market capitalisation, reaching ₹14.69 trillion ($176.28 billion) by April 2025, closing in on Wall Street heavyweight Goldman Sachs' ₹14.93 trillion ($179.16 billion). The stock has rallied nearly 34% from its 52-week low of ₹1,426.80 in April 2024, fuelled by strong quarterly results, strategic deposit mobilisation, and positive market sentiment.
Following its 2023 merger with Housing Development Finance Corporation (HDFC Ltd.), the bank initially faced pressure from a high loan-to-deposit ratio (LDR) of 104% as of March 2024. However, focused efforts brought the LDR down to 96.5% by March 2025, with expectations to return to pre-merger levels of 85–90% by FY27. The bank has also adjusted deposit rates to attract lower-cost funds, aiding in stabilising Net Interest Margins (NIMs), which are projected at 3.5–3.6% by FY27.
Analysts from IIFL and Nuvama Wealth highlight that HDFC Bank’s ongoing shift toward high-yield retail loans and reduced reliance on costly borrowings position it for sustained growth. Despite differences in business models—Goldman Sachs being an investment banking giant—HDFC Bank's comparable market cap underscores its rising global stature.
Goldman Sachs has initiated a ‘BUY’ rating on HDFC Bank, citing easing regulatory conditions and robust fundamentals, with expectations that the stock may soon cross the ₹2,000 mark.
Published on: April 28, 2025
Bharat Petroleum Corporation Ltd. (BPCL), a Maharatna PSU under the Ministry of Petroleum and Natural Gas, is set to announce its financial results for the fourth quarter and full financial year 2024-25 on April 29. The Board of Directors will also review and potentially recommend a dividend for FY25.
Ahead of the results, BPCL has closed its trading window for insiders and their relatives in line with SEBI guidelines from April 1 to May 1. In Q3 FY25, BPCL posted a 19.63% year-on-year rise in consolidated net profit to ₹3,805.94 crore, though revenue declined slightly by 1.9% to ₹1,27,550.57 crore.
The company's stock has shown mixed performance recently, gaining over 10% in the last month but declining 1.01% over the past six months. As of midday Monday, BPCL shares were trading 3.91% higher at ₹307.25 on the NSE, outpacing the broader Nifty 50's 1.11% advance.