Published on: April 25, 2025
Hindalco Industries on Friday launched its new Rs 500-crore EV component manufacturing facility in Chakan, Pune, marking a significant step into the growing electric vehicle (EV) market. The facility, spread across 5 acres, is designed to meet the increasing demand for lightweight, crash-resistant aluminium battery enclosures.
This move aligns with Hindalco's commitment to driving India's transition to a self-reliant EV ecosystem, moving away from import dependence to local, high-performance aluminium solutions. The facility will also contribute to job creation, with an expected 1,000 jobs generated, reinforcing the government's 'Make in India' initiative. Hindalco has already delivered 10,000 aluminium battery enclosures to Mahindra & Mahindra (M&M), a key partner in this venture.
These co-developed enclosures offer a 40% weight reduction compared to traditional steel designs, improving vehicle driving range by 8-10%, enhancing crash safety, and providing better thermal management for battery cooling. The use of low-carbon aluminium highlights Hindalco's commitment to sustainability while supporting the growing demand for innovative, efficient solutions in the electric vehicle sector.
Published on: April 25, 2025
Indian equity markets ended in the red on Friday, as geopolitical tensions between India and Pakistan continued to rattle investor sentiment. The Sensex closed down 588.90 points (0.74%) at 79,212.53, while the Nifty dropped 207.35 points (0.86%) to 24,039.35, despite an early rally that took the index to 24,365.45.
Profit-booking, especially in sectors like media, metal, PSU, power, oil & gas, and realty, dragged the markets lower. However, IT stocks such as Infosys, TCS, and Tech Mahindra offered some support, helping the indices recover from their intraday lows. Broader markets underperformed, with the BSE Midcap and Smallcap indices falling over 2.5% each.
The session marked a volatile start to the May derivatives series, as rising uncertainty over India’s potential retaliation to the recent terror attack led to a risk-off approach. Key losers included Axis Bank, Adani Ports, and SBI Cards, while SBI Life Insurance and Infosys were among the top gainers.
Globally, positive cues from US and Asian markets amid easing trade tensions between the US and China helped limit damage. However, analysts warned that the Nifty falling below its 200-day moving average suggests bearish sentiment may continue, with key support seen around 23,800–23,515.
Experts recommend a cautious, hedged trading strategy, citing the overstretched rally and uncertain geopolitical environment heading into the weekend.
Published on: April 25, 2025
Indian equity markets rebounded sharply on Friday afternoon, recovering from steep morning losses as positive global cues, strong foreign institutional inflows, and signs of easing global trade tensions helped offset investor concerns about rising India-Pakistan tensions. The Sensex jumped 850 points from the day's low to reach 79,456.21, while the Nifty50 reclaimed the 24,100 mark, hitting 24,109.15 by 2:30 PM.
Earlier in the day, both benchmarks saw significant declines—Sensex dropped over 1,000 points, and Nifty slipped below 24,000—dragged by heavyweights like Axis Bank. However, sentiment turned around as Asian and US markets traded strong, boosted by solid corporate earnings and macroeconomic indicators.
Support also came from China’s reported plan to roll back tariffs on US goods, and the Nifty finding support at its 200-DMA level near 24,052. Meanwhile, FIIs remained robust buyers, injecting ₹8,250 crore on Thursday, with ₹29,513 crore invested over the past week.
VK Vijayakumar of Geojit Financial noted that FII enthusiasm and talk of a potential Indo-US trade deal were key market drivers, though he warned that geopolitical risks remain a key overhang.
Published on: April 25, 2025
Shares of InterGlobe Aviation (IndiGo) and SpiceJet dropped up to 6% in intra-day trade on Friday after Pakistan announced the closure of its airspace to Indian carriers, sparking fears of disrupted flight operations and higher fuel costs. IndiGo shares declined sharply after hitting a record high earlier this week, while SpiceJet traded near ₹50.25 on the BSE.
The airspace shutdown affects several international routes used by IndiGo and Air India, prompting emergency internal meetings to develop alternative flight paths. The last such closure in 2019, post-Balakot airstrikes, significantly dented airline margins due to rising operational costs, primarily from increased fuel usage.
Fuel expenses, being the largest component of airline costs, pose a key risk, especially under geopolitical instability. According to IndiGo’s FY24 report, even a 15% improvement in fuel efficiency can lead to meaningful cost savings, underlining how sensitive operations are to such changes.
Despite the dip, IndiGo has performed strongly in the recent past, rising 38% over the last year and maintaining a market share of over 60%, driven by its dominant domestic presence and operational efficiency. Analysts at Axis Securities remain optimistic, citing benign crude prices, infrastructure expansion, and IndiGo’s status as a leading low-cost carrier with strong OTP and expansive network coverage.
Published on: April 25, 2025
Indian benchmark indices witnessed a sharp downturn in late morning trade on Friday, erasing early gains as investor sentiment soured amid escalating geopolitical tensions. The Sensex plummeted 1,024.82 points (1.28%) to 78,776.61, while the Nifty50 dropped 350.30 points (1.44%) to 23,896.40, breaching the psychologically important 24,000 level.
The market reversal followed a brief positive start, which was supported by strong global cues and sustained foreign institutional investor (FII) inflows. However, profit booking after a robust rally and growing India-Pakistan conflict risks prompted traders to exit positions and seek safety.
Kranthi Bathini, Director - Equity Strategy at WealthMills Securities, said, “Markets have had a strong rally from 22,000 to 24,400 on the Nifty, and this kind of sharp move often invites profit-taking. Add to that the geopolitical overhang, and investors are choosing to stay liquid in the short term.”
The sharp decline highlights the fragile nature of the current market rally, where external risks and domestic developments can quickly sway investor confidence.
Published on: April 25, 2025
Amid escalating geopolitical tensions following the deadly Pahalgam terror attack that killed 26 people, India has responded with a slew of retaliatory measures, including the expulsion of Pakistani military attachés, closure of the Attari border, and suspension of the Indus Waters Treaty. In response, reports indicate cross-border firing by Pakistani forces along the LoC in Jammu & Kashmir.
The developments sent shockwaves through Indian equity markets, with the Sensex plunging over 800 points intraday on Friday to a low of 78,797. Despite a recent rally driven by a 90-day US tariff push-back, which saw the index surge over 12% to 80,254.55 by April 23, investor sentiment has been dampened by the renewed India-Pakistan standoff.
Veteran market analyst G Chokkalingam of Equinomics Research notes that while geopolitical risks tend to cause short-term volatility, history suggests markets bounce back once tensions de-escalate. Drawing parallels with the 1999 Kargil conflict, he suggests the current volatility could offer buying opportunities, especially in sectors like banking, for long-term investors.
Investors are advised to remain cautious, stay updated on geopolitical developments, and consider buying on dips, rather than panic-selling during heightened uncertainty.
Published on: April 25, 2025
REC Limited announced the transfer of four transmission project-specific special purpose vehicles (SPVs) to Power Grid Corporation of India Ltd (Power Grid) and IndiGrid 2 Private Ltd. The handover was made through REC’s subsidiary RECPDCL on March 25.
The transmission asset Ratle Kiru Power Transmission Ltd, part of the transfer, was given to IndiGrid 2 Private Ltd. This project involves the construction of a 150-km, 400 kV transmission line connecting Samba (J&K) and Jalandhar (Punjab), along with a 35-km, 400 kV line between Kishenpur (J&K) and Samba, along with other associated works.
The estimated project cost stands at Rs 1,407.44 crore. This handover marks a significant step in the expansion of India’s transmission infrastructure and strengthens the collaboration between REC, Power Grid, and IndiGrid in enhancing India’s power transmission capabilities.
Published on: April 24, 2025
Vedanta Ltd is likely to be in focus after reports emerged that its parent company, Vedanta Resources, is considering a U.S. public listing of Konkola Copper Mines (KCM) to raise around $1 billion for expanding mining operations. The potential IPO, being advised by Barclays and Citigroup, is still in early discussions, with no firm timeline set.
KCM, based in Zambia, is touted to hold one of the world’s richest copper and cobalt reserves, both essential for clean energy and EV infrastructure. The move aligns with Vedanta’s goal to ramp up copper production to 300,000 metric tons annually over the next five years.
The company is evaluating New York as the listing venue, and has also set up a U.S.-based entity, Global Transition Resources Inc., potentially linked to this plan—though Reuters could not confirm if KCM assets will be housed under it.
KCM’s operations had been hampered by legal disputes with Zambia’s previous government, which had placed the unit under provisional liquidation. Since regaining control in 2023, Vedanta has resumed supplier payments, secured short-term funding, and boosted local community investments.
Past efforts to attract strategic investors in KCM, including talks with UAE’s International Resources Holding, failed due to valuation issues. Vedanta Resources currently owns 80% of KCM, with 20% held by Zambia’s ZCCM-IH.
This IPO plan comes amid Vedanta Resources’ broader restructuring, which aims to split its oil-to-metals empire into five separate listed entities, potentially reshaping its future financing strategies.
Vedanta Ltd’s stock has gained 11% in the past year and closed 1.3% higher at ₹418.30 on Wednesday, April 23, on the BSE.
Published on: April 24, 2025
Shares of Adani Green Energy are set to attract attention after its subsidiary Adani Hydro Energy Five Ltd signed a power purchase agreement (PPA) with Uttar Pradesh Power Corporation for a 1,250 MW energy storage project. The agreement, signed on April 23, involves supplying energy from pumped hydro storage projects, though the financial value of the deal remains undisclosed.
This marks a significant clean energy milestone for Adani Green in Uttar Pradesh. Earlier this year, in March, Adani Renewable Energy Holding Twelve, another subsidiary, secured a 25-year contract to provide 400 MW of solar power to the state, which will be generated from a grid-connected facility in Rajasthan.
In addition, Adani Green is advancing its renewable energy projects, including 500 MW solar park development in Bhadla, Jodhpur, and a 1,500 MW facility in Fatehgarh, Jaisalmer, with the latter spanning 9,981 acres.
For FY25, Adani Green reported a 28% YoY increase in energy sales, reaching 27,969 million units, and a 30% rise in operational capacity, reaching 14.2 gigawatts, maintaining a 45% compound annual growth rate in energy generation over the last five years.
Shares of Adani Green Energy closed 1.1% higher at ₹952.70 on Wednesday but have seen a 47.6% decline over the past year and a 7.6% drop in the last three months. The stock is trading above five of its eight key moving averages, though it remains below its 100-day, 150-day, and 200-day SMAs, and the 14-day RSI stands at 56.7, indicating neutral momentum.
Published on: April 24, 2025
India’s recent move to impose a 12% provisional safeguard duty on select steel imports is expected to offer a level playing field for domestic producers, according to JSW Steel CEO Jayant Acharya. Speaking to Reuters, Acharya noted that while the temporary tariff will help curb surging imports, especially from China, South Korea, and Japan, further calibration may be needed depending on its impact.
India, the world’s second-largest crude steel producer, saw finished steel imports hit a nine-year high in FY25, marking the second consecutive year of increase. The influx of cheaper steel, particularly from China, has pressured Indian mills, forcing some to scale down operations and weigh potential job cuts.
Acharya emphasized that the 12% safeguard duty, valid for 200 days, is a first step to protect domestic players, but its adequacy will need to be assessed in the coming months.
On the global front, he raised concerns over Europe’s tighter steel import quotas, which could further limit JSW Steel’s presence in the region, though he did not provide specific details.
In a strategic shift, JSW Steel is also evaluating coal assets within India to strengthen its raw material supply chain. Currently, the company imports coal from Australia, the U.S., and Mozambique, but is now considering local acquisitions based on commercial and strategic viability.
These moves come as Indian steelmakers advocate for stronger trade defenses and supply chain resilience in the face of global market volatility.
Published on: April 24, 2025
Indian benchmark indices traded lower on Thursday with the Sensex falling 305.50 points (0.38%) to 79,810.99 and the Nifty 50 slipping 73.20 points (0.30%) to 24,255.75 by 12:30 p.m. The broader market remained subdued, with realty stocks facing heavy sell-off while pharma stocks bucked the trend to post modest gains. Market volatility edged up, with the India VIX rising nearly 3% to 16.40.
Among the top Nifty 50 gainers were IndusInd Bank, jumping 4.96% to ₹833.60, followed by UltraTech Cement (up 1.43%), Grasim, Trent, and Dr Reddy’s Laboratories. In contrast, Hindustan Unilever Ltd. (HUL) was the biggest laggard, plunging 3.79% to ₹2,311.90 after posting a 3.67% drop in Q4 net profit to ₹2,464 crore. Other major losers included M&M, Bharti Airtel, ICICI Bank, and ONGC.
On the earnings front, Nestle India turned flat at ₹2,431 after initially gaining, as its Q4 profit fell 6.5% to ₹873.46 crore.
In the midcap and smallcap space, Tata Elxsi, Hindustan Zinc, Persistent Systems, Paytm, and AU Small Finance Bank gained 2–3%, while Waaree Energies, Bharat Forge, and Biocon slipped 2–5%. Gensol Engineering continued its losing streak, hitting a lower circuit with a 5% fall to ₹94.91 amid ongoing company troubles.
On the BSE, KIOCL, Sonata Software, MMTC, Morepen Labs, and Newgen Software rallied 12–15%. Meanwhile, Bajaj Finance, BSE, Laurus Labs, and Divi’s Lab hit new 52-week highs, reflecting selective bullish sentiment. Of the 2,749 NSE-traded stocks, 1,582 advanced and 1,086 declined.
Published on: April 24, 2025
Shares of Max Estates Ltd. surged over 6% on Thursday following its announcement of acquiring Boulevard Projects Pvt. Ltd. to revive the long-stalled Delhi One project in Noida. The company completed the acquisition for ₹3.4 lakh, with a total capital outlay estimated at ₹1,400 crore, including settlement of outstanding dues. The deal was finalized after approvals from the National Company Law Tribunal and Appellate Tribunal in 2023 and 2024, respectively.
Located strategically at the Delhi-Noida border with excellent connectivity, the Delhi One project covers approximately 2.5 million square feet on a 10-acre land parcel. Max Estates plans to develop an integrated mixed-use campus aligned with its “LiveWell, WorkWell, PlayWell, and EatWell” philosophy.
The stock touched ₹442 apiece, its highest since March 7, 2025, before paring gains to trade 3.33% higher at ₹430.30 as of 11:30 a.m., defying a 0.3% drop in the NSE Nifty 50. Despite a 24.2% YTD decline, Max Estates has gained nearly 48% over the past 12 months. The Relative Strength Index (RSI) stood at 55.81, indicating moderate momentum. All three analysts tracking the stock recommend a ‘buy’, with Bloomberg consensus data pointing to a 68.5% upside over the next 12 months.
Published on: April 24, 2025
IndusInd Bank’s microfinance business is facing renewed scrutiny as the Reserve Bank of India (RBI) and EY (Ernst & Young) investigate potential accounting irregularities, including issues around interest income reversal, expense recognition, and loan pricing. These lapses may have led to evergreening—the practice of rolling over loans to avoid classifying them as non-performing.
Although IndusInd Bank has publicly denied halting new customer acquisition in the microfinance segment or receiving any directive from the RBI, sources close to the matter confirm that the bank has not onboarded new MFI customers since January 2025, and paused underwriting loans through Bharat Financial Inclusion Ltd (BFIL), its MFI arm. The microfinance portfolio stood at ₹32,564 crore as of December 2024, accounting for 9% of the bank’s total loan book.
The resignation of BFIL COO Vikas Muttoo, reportedly following the board’s decision to pause new onboarding, adds to the uncertainty. Meanwhile, EY has been engaged to audit the MFI business and suggest corrective measures. The bank has already recognized ₹6,679 crore of MFI loans as NPAs in the first nine months of FY25 and may need to take a one-time provisioning hit following the audit outcome.
This marks the second major investigation into IndusInd’s MFI business under CEO Sumant Kathpalia, the previous one stemming from a whistleblower complaint in 2021.
Plans to rebrand and expand the MFI arm under “Bharat Banking”, focusing on affordable loans like two-wheeler financing and low-ticket gold loans, have been put on hold pending regulatory clearance. The RBI has reportedly asked the bank to complete its internal clean-up before moving forward.
EY’s review is expected to conclude by June 2025, though an interim report may be submitted earlier to estimate necessary provisions.
Published on: April 24, 2025
Shares of Persistent Systems rose 3% to ₹5,295 on April 24 after the company posted a robust set of earnings for Q4 FY25, with a 25.5% jump in net profit to ₹395.76 crore compared to ₹315.32 crore in the same quarter last year. Revenue from operations surged 25% YoY to ₹3,242 crore, reflecting continued client demand and operational strength.
The board also declared a final dividend of ₹15 per equity share, bringing the total dividend for the fiscal year to ₹35, aligning with the company’s 35th anniversary celebrations. The record date for the dividend will be disclosed soon.
CEO Sandeep Kalra emphasized Persistent’s 20th consecutive quarter of revenue growth and an EBIT margin of 15.6%, despite global macroeconomic uncertainty. Kalra said the company remains on track to reach $2 billion in annual revenue by FY27, driven by an AI-led, platform-first strategy.
For Q4 FY25, Persistent reported a Total Contract Value (TCV) of $517.5 million and an Annual Contract Value (ACV) of $350.2 million—strong forward indicators of growth momentum.
Founder and Chairman Anand Deshpande highlighted Persistent's pioneering role in AI transformation, noting the company’s focus on embedding AI across digital journeys. With 35 years since founding and 15 years of listing on the NSE, Persistent continues to strengthen its position as a leader in tech innovation and client-centric solutions.
Published on: April 24, 2025
Biocon Ltd. shares fell 2.9% to ₹326.15 on the BSE on Thursday, reacting to the company’s announcement of a fundraising plan of up to ₹4,500 crore via qualified institutional placement (QIP), rights issue, or other permitted methods in multiple tranches. The move aims to bolster the biopharma major's financial flexibility but triggered investor concerns, leading to a sell-off.
In addition to the fundraising, Biocon’s board also approved increasing its authorised share capital from ₹625 crore to ₹700 crore, pending shareholder and regulatory approvals. The company will seek shareholder consent through a postal ballot.
The stock's decline comes in the wake of disappointing Q3 FY25 results, where consolidated net profit plunged 96.2% to ₹25.10 crore, down from ₹660 crore in the same quarter last year, despite a 6.3% rise in net sales to ₹3,773 crore.
From a technical standpoint, momentum indicators remain mixed. The Relative Strength Index (RSI) is at 52, suggesting neutral momentum, while the MACD at -3.2 reflects a bearish bias. The stock trades above its short-term moving averages (5-day to 30-day) but remains below longer-term averages.
Despite the recent dip, analysts remain largely bullish, with 19 analysts giving a 'Buy' rating, and an average target price of ₹381, indicating a 13% upside from current levels. The stock has fallen 15% over the last three months but has gained 47% over the past two years, with a current market cap of ₹40,322 crore.