Published on: April 24, 2025
On Thursday, April 24, 2025, Indian equity markets ended their seven-day winning streak, as benchmark indices fell amid profit booking ahead of Nifty’s monthly F&O expiry. The BSE Sensex declined 315.06 points (0.39%) to close at 79,801.43, while the NSE Nifty 50 slipped 82.25 points (0.34%) to settle at 24,246.70.
Broader markets also showed weakness, with Nifty Midcap100 down 0.13% and Nifty Smallcap100 falling 0.04%. Of the 1,930 stocks traded on the NSE, 1,441 ended in the red, reflecting widespread selling pressure, particularly in FMCG, realty, auto, and banking stocks.
Hindustan Unilever led the losers after posting a marginal decline in EBITDA margins, dragging FMCG stocks lower by 1.06%. The realty sector also saw a sell-off, with Macrotech Developers and Prestige Estates dropping over 2%. Among the top Nifty 50 losers were HUL, Bharti Airtel, Eicher Motors, ICICI Bank, and Eternal (formerly Zomato). On the upside, IndusInd Bank, UltraTech Cement, Grasim, Dr. Reddy's Labs, and Cipla were the day's top gainers.
Market experts suggest the current phase is consolidative, mirroring global market uncertainty, especially over ongoing US-China tariff tensions. Vinod Nair of Geojit Investments noted that FMCG results were underwhelming, but a recovery could be expected with improving rural and urban demand. Ajit Mishra of Religare Broking emphasized the need for selective buying and predicted further consolidation in banking and financial stocks, with potential interest in metals, PSEs, and pharma.
Technically, analysts observe an inside-body candle pattern, signaling indecision in the market. Kotak Securities' Shrikant Chouhan highlighted key resistance at 24,350/80,100, above which a rally to 24,500/80,500 is possible. However, if Nifty slips below 24,200, it could trigger a quick correction toward 24,100 or even 24,000, making level-based trading crucial for short-term strategies.
Published on: April 24, 2025
Syngene International Ltd.'s stock plunged over 10% after the company reported weaker-than-expected fourth-quarter results for the period ending March 2025. Although revenue grew by 11% year-on-year to ₹1,018 crore, it fell short of Bloomberg's estimate of ₹1,048.8 crore. EBITDA rose by 8.4% to ₹344 crore but also missed expectations, while EBITDA margins narrowed to 33.8%.
The net profit dropped 2.8% to ₹183 crore, below the anticipated ₹192.9 crore. Following the results, Syngene’s market capitalisation eroded by more than ₹3,000 crore, making it one of the worst-performing midcap stocks of the day. The stock fell as much as 10.16% before slightly recovering to trade 9.92% lower at ₹674.80 as of 10:49 a.m., even as the broader Nifty 50 index advanced 0.22%.
Trading volume surged to 40 times the 30-day average, with the relative strength index at 39—indicating weak momentum. Despite the disappointing quarter, the board declared a final dividend of ₹1.25 per share. Analyst sentiment remains mixed, with 7 of 11 recommending a 'buy', and the average 12-month price target implying a potential 24.8% upside.
Published on: April 24, 2025
India's central bank has slashed interest rates for the second consecutive time and injected over $70 billion into the banking system to stimulate the economy. However, experts warn that these measures may only prevent further slowdown rather than trigger immediate growth.
Corporate investment remains subdued amid global trade tensions and uncertainty, with private capex expected to slow further. The Reserve Bank of India’s efforts, including a 25-basis point rate cut and bond purchases, have eased inflation concerns and lowered lending rates, but surplus liquidity continues to be parked at the central bank, signaling weak credit demand.
Analysts stress the need for coordinated fiscal support, as monetary policy alone may not be sufficient to revive growth, which likely dropped to a four-year low of 6.5% in FY2024-25.
Published on: April 23, 2025
SBI General Insurance, the non-life insurance arm of State Bank of India, reported a more than two-fold increase in its net profit to ₹509 crore for the financial year 2024–25, compared to ₹240 crore in the previous year. The impressive growth underscores the insurer’s continued focus on operational efficiency and strategic expansion.
The company posted a gross written premium (GWP) of ₹14,140 crore, reflecting an 11% rise from ₹12,731 crore in FY24. This performance marks a significant milestone in SBI General’s growth trajectory within the non-life insurance segment.
Additionally, the insurer reported a healthy solvency ratio of 2.03, well above the regulatory requirement of 1.50, underscoring its financial resilience and strong capital adequacy. The company’s results highlight its robust fundamentals and readiness to expand its market footprint amid rising insurance demand.
Published on: April 23, 2025
Shares of HCL Technologies surged 7% to ₹1,587 on April 23, following the announcement of its Q4FY25 results, which closely aligned with market expectations. The rally was driven largely by a better-than-expected FY26 revenue forecast, despite the company’s cautious guidance and underwhelming deal wins during the quarter.
HCL Tech reported a 6% year-on-year increase in operational revenue, reaching ₹30,246 crore, while net profit rose 8% YoY to ₹4,307 crore. For the full fiscal year FY25, the IT major posted a 6.5% rise in revenue and a 10.8% increase in net profit, with an EBIT margin of 18.3%, well within the guided range of 18–19%.
The company revised its FY26 revenue growth guidance to 2–5% in constant currency terms, slightly lowering the lower end of its prior outlook by 250 basis points compared to FY25.
Brokerages gave mixed reactions:
Citi maintained a "neutral" rating with a target of ₹1,510, noting HCL’s relatively strong performance in a seasonally weak quarter but downgraded FY26 and FY27 EPS estimates by 2% due to slower growth projections.
Published on: April 23, 2025
Indian banks have emerged as global frontrunners in digital transformation, according to Deloitte’s 2024 Digital Banking Maturity (DBM) report. The study assessed 12 top Indian banks, of which nine achieved the prestigious 'Digital Champion' status — a title reserved for the top 10% of global performers. The country's average DBM index leapt from 43% in 2022 to 59% in 2024, outpacing the global average and reflecting rapid advancements in digital banking.
Key growth drivers included enhancements in day-to-day banking, personal finance management, and user experience. Indian banks now offer innovative services such as real-time payments, virtual cards, savings tools, and integrated customer support — driving higher engagement and satisfaction.
While areas like ecosystem integration and product cross-selling still trail global leaders, the report highlights India's strong position to bridge these gaps through regulatory support, digital infrastructure, and shifting customer preferences. Experts recommend sustained investment in phygital models, customer-centric design, and enterprise-wide data agility to maintain India’s upward trajectory and set new global benchmarks in digital banking.
Published on: April 23, 2025
Indian equity markets extended their winning streak for the seventh consecutive session on Wednesday, April 23, 2025, driven by strong buying in IT and auto stocks. The BSE Sensex climbed 520.90 points, or 0.65%, to close at 80,116.49, while the NSE Nifty50 advanced 161.70 points, or 0.69%, to settle at 24,328.95.
The rally was fueled by investor optimism following HCL Technologies’ fourth-quarter results, which met expectations and reaffirmed annual guidance. Tech stocks rallied, with the Nifty IT index surging 4.34%, led by HCL Tech, Coforge, and Oracle Financial Services. All 10 IT constituents posted gains ranging from 2.73% to 7.74%.
Auto stocks also performed strongly, with the Nifty Auto index up 2.38%, led by Tata Motors and Ashok Leyland. In contrast, the banking sector saw profit booking, with the Bank Nifty falling 0.50%, dragged down by HDFC Bank and Kotak Mahindra Bank.
Mid- and small-cap indices outperformed, with the Nifty Midcap100 and Smallcap100 gaining 1.18% and 0.44%, respectively. Waaree Renewable Energy emerged as the top gainer, rising 14.76%.
Market breadth remained positive, with 1,516 stocks advancing, 1,340 declining, and 75 remaining unchanged on the NSE.
Analysts remain optimistic about the market’s direction. Vinod Nair of Geojit Financial said optimism in IT earnings and easing global trade tensions are supporting sentiment. Ajit Mishra of Religare Broking advises a "buy on dips" strategy, while Shrikant Chouhan of Kotak Securities expects the uptrend to continue as long as key support levels (24,150 Nifty and 79,500 Sensex) hold.
Technical indicators suggest the indices could test higher resistance zones at 24,450–24,500 for Nifty and 80,300–80,500 for Sensex in the near term.
Published on: April 23, 2025
Shares of Maharashtra Scooters soared as much as 10% to an intraday high of ₹12,591 on the BSE, following the company’s announcement of strong Q4FY25 results and a significant dividend payout. By 1:35 PM, the stock was trading 3.74% higher at ₹11,861.9, with the broader BSE Sensex up 0.39%.
The company reported a sharp rise in net profit for the fourth quarter, coming in at ₹51.63 crore compared to just ₹0.1 crore a year earlier. Revenue for the quarter also rose to ₹6.65 crore from ₹5.18 crore in the corresponding period last year.
The board approved a final dividend of ₹30 per share and a special dividend of ₹30 per share—both amounting to 300% of the face value of ₹10 each. These dividends are subject to shareholder approval at the upcoming Annual General Meeting (AGM), scheduled for July 23, 2025. The record date for determining eligible shareholders has been fixed for Friday, June 27, 2025.
Maharashtra Scooters, a Core Investment Company (CIC), primarily invests in Bajaj group companies. Additionally, it manufactures pressure die-casting dies and components for industries such as automotive, telecom, EVs, and LED lighting, reflecting its growing diversification and market relevance. The company’s market cap currently stands at ₹13,556.45 crore, with a 52-week high of ₹12,847.45.
Published on: April 23, 2025
Indian benchmark indices extended their winning streak for the seventh consecutive session on Wednesday, buoyed by robust buying in IT and auto stocks, and a favorable global sentiment triggered by easing US-China trade tensions and a strong revenue forecast from HCLTech.
The BSE Sensex surged 520.90 points (0.65%) to close at 80,116.49, while the Nifty 50 jumped 161.70 points (0.67%) to end at 24,328.95. The total market capitalization of BSE-listed firms increased by ₹2.32 lakh crore, reaching ₹430.47 lakh crore.
HCLTech emerged as the top Nifty gainer, rallying 7.7%, after the company issued an upbeat guidance for FY26. This lifted the entire Nifty IT index by 4.3%, with strong gains in TCS, Infosys, Wipro, Tech Mahindra, and Coforge.
Auto stocks also saw a robust rally, with the Nifty Auto index rising 2.4%, led by Tata Motors which surged 4.4%. Broader indices followed suit — Nifty Midcap 100 advanced 1.2%, and Nifty Smallcap 100 rose 0.4%, reflecting widespread market participation.
However, Mahindra Finance dropped 2.8% on weaker Q4 earnings, while Havells India slipped 3.2% after flagging subdued summer product demand.
On the global front, Asian markets rallied, with Japan’s Nikkei up 1.7% and South Korea’s KOSPI rising 1.4%, as US President Donald Trump signaled a potential easing in tariffs on Chinese goods and ruled out firing Federal Reserve Chair Jerome Powell. This softened investor fears and boosted risk assets.
Meanwhile, crude oil prices climbed over 1.6%, and FIIs net bought ₹1,290.4 crore of Indian equities. The Indian rupee slipped 0.3% to 85.42 per US dollar amid dollar strength and profit-booking.
Experts like Vinod Nair of Geojit Investments and Dr. VK Vijayakumar warned of potential volatility due to profit-booking, higher crude prices, and geopolitical risks, including the Kashmir militant attack that killed 26 tourists, which could weigh on sentiment in the short term despite India’s strong macroeconomic fundamentals.
Published on: April 23, 2025
South Korea's LG Electronics has paused its plans to launch the initial public offering (IPO) of its Indian subsidiary due to ongoing volatility in the equity markets, Bloomberg reported on Wednesday, citing sources close to the matter. The company has notified its advisors of the potential delay, though a final decision is yet to be made.
The IPO process remains active, but timing is uncertain, according to an LG official in Seoul. The IPO, initially expected in May 2025, had already secured approval from the Securities and Exchange Board of India (SEBI) in March and followed the company’s filing of preliminary papers in December 2024.
Valuation concerns have also surfaced, with LG India’s estimated valuation dropping from $11.5 billion to $10.5 billion amid a downturn in local markets. The company had planned to raise around $15 billion via an offer for sale (OFS), offloading 15% of its Indian operations—approximately 101.8 million shares—as per the draft red herring prospectus (DRHP).
Leading global and domestic investment banks including Morgan Stanley India, JP Morgan India, Axis Capital, BofA Securities India, and Citigroup Global Markets India were appointed as book-running lead managers for the IPO.
Meanwhile, LG Electronics continues to expand its manufacturing footprint in India, with plans to establish a third consumer electronics plant in Sri City, Andhra Pradesh, complementing its existing facilities in Noida and Ranjangaon, Maharashtra. LG, India’s second-largest home appliances brand after Samsung, reported FY24 operational revenue of ₹21,352 crore.
Published on: April 23, 2025
Information Technology major Tech Mahindra is expected to report muted performance in its Q4 FY24 results, set to be released on April 24. According to analysts tracked by Business Standard, the company is likely to post flat sequential growth in both revenue and operating margins, with a projected 10% quarter-on-quarter rise in net profit.
Consensus estimates peg Q4 revenue at ₹13,457.85 crore, up 1.3% QoQ and 4.5% YoY. However, seasonal weakness in the Business Process Outsourcing (BPO) vertical and sluggish performance in the hi-tech segment are expected to weigh on topline growth. Analysts expect the EBIT margin to improve modestly by 9–30 basis points, driven by operational efficiencies under Project Fortius and benefits from a depreciating rupee.
Brokerages remain cautious. Kotak Securities anticipates a constant currency revenue decline and pegs net profit at ₹994.8 crore, while highlighting strong deal wins of around $750 million, coming in at higher margins. IDBI Capital forecasts a 5.9% QoQ rise in profit to ₹1,041.5 crore, with a YoY jump of nearly 58%, though revenue in dollar terms may decline by 0.6%.
HSBC also expects a 0–1% QoQ decline in constant currency revenue, citing continued headwinds in telecom, BPO, and hi-tech sectors. While margins may remain flat, the brokerage warns of a challenging turnaround ahead under the new management, revising down its earnings estimates for FY25–27.
Key factors to watch in the results include large deal traction, progress on cost-cutting initiatives, and updates on AI-driven business opportunities.
Published on: April 23, 2025
The Indian rupee opened 7 paise weaker at 85.27 against the US dollar on Wednesday, continuing its slide from the previous day’s close of 85.20. This decline comes after a five-day winning streak was snapped on Tuesday, largely due to rising global crude oil prices and a stronger dollar index.
According to Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP, the rupee is expected to trade in the 85.00–85.50 range. Exporters may hold off on conversions, while importers could hedge near the 85.00 mark. Brent crude prices rose nearly 1% to $67.79 per barrel, driven by a dip in US crude inventories and renewed sanctions fears on Iran.
Global market sentiment was also shaped by US President Donald Trump's softened stance on the Federal Reserve and potential easing of US-China trade tensions. His comments lifted investor confidence, resulting in gains across US indices and a stronger dollar index at 99.14. The US 10-year Treasury yield edged lower to 4.3450%.
In currency markets, the dollar strengthened against the yen at 141.90, while the euro and pound slipped to 1.1403 and 1.3307 respectively. Meanwhile, Asian markets were upbeat, with the Nikkei, Hang Seng, and China indices all showing gains. Gift Nifty futures pointed to a positive open, rising by 60 points. Key Asian currencies remained steady, reflecting regional stability amid global shifts.
Published on: April 23, 2025
Major Indian IT companies have announced their hiring policies and workforce trends along with financial results for the quarter/year ending March 31, 2025. These developments come as the IT sector navigates economic uncertainties, a global trade war, and tariff concerns.
Here's a comparison between hiring policies, salary hikes, headcount ratios and layoffs for major IT firms –Hiring
Tata Consultancy Services (TCS) plans to hire thousands of freshers in FY26. During the TCS earnings press conference, Chief Human Resource Officer Milind Lakkad said that the company is hiring 42,000 freshers this fiscal year, in syn with the hirings made in the last fiscal year.
Salary hike
The IT major deferred the salary hike this year, a departure from its April increment cycle.Headcount and layoffs
TCS reported a 13.3 per cent attrition rate for the quarter ended on March 31, 2025. The IT firm continued to expand its workforce, adding 6,433 employees. The total headcount stood at 6,07,979, up from 6,01,546 in Q4 FY24. The workforce grew by 625 from the December 2024 quarter’s count of 6,07,354.
There is no official confirmation regarding layoffs by the IT major. However, several employees in the United States have alleged that the company has been biased towards Indian employees and fired American workers during layoffs, reported Bloomberg. The company has strongly denied such allegations.
Infosys
Hiring
Infosys CFO Jayesh Sanghrajka announced that the IT firm plans to hire more than 20,000 freshers in FY26. The IT major hired 6,388 employees, bringing its total workforce to 323,578, marginally higher than 317,240 employees in the previous financial year.Salary hike
India's second-largest IT firm announced that a major portion of salary hikes were rolled out in January, and the rest will be rolled out from April 1. It was previously reported that the salary hikes for most of the employees at Infosys range from 5-8 per cent on average, lower than the previous year, according to Moneycontrol.
Meanwhile, the top performers received 10-12 per cent salary hikes. Infosys classifies employees' performance into four categories – outstanding, commendable, met expectations, and needs improvement.
Headcount
Infosys reported a headcount increase of 199 employees for the quarter ended on March 31, 2025. The attrition rate was reported at 14.1 per cent in Q4FY25 on a year-on-year basis, up from 13.7 per cent in the previous quarter.Layoffs
Earlier this year, India's second-largest IT firm made headlines for laying off 400 trainees after they failed evaluation tests in three consecutive attempts. These employees constituted approximately half of the new joiners onboarded in October 2024.
Wipro
Hiring
Wipro added just 612 employees in the quarter ended on March 31, 2025. The company announced that it hired around 12,000 freshers from campus in the last fiscal year. However, Wipro did not mention the FY26 hiring target.
Headcount and layoffs
The net headcount addition of Wipro for FY25 stood at 1,032. The IT major's attrition rate dipped to 15 per cent from 15.3 per cent in the third quarter, while headcount rose to 2,33,346 employees. There is no official confirmation regarding layoffs.Salary hike
Wipro did not give any major update regarding salary hike and informed that the company will make a decision closer to the date.
“We are still very far from that time, and in this uncertain environment, we will decide closer to the date,” Chief Human Resource Officer Saurabh Govil said after the announcement of Q4FY25 results. He further added that the company gave salary hike ahead of time in September.The company added 2,665 employees for the quarter ended on March 31, 2025, a reduction of 4,061 employees from the previous year. The company has hired 7,829 freshers in FY 25.
The total headcount stood at 2,23,420 after the addition in March quarter. The company claimed that the headcount declined by 7,398 employees on account of divestiture. The attrition rate stood at 13% in Q4. There is no official confirmation in connection with layoffs and a salary hike.
Published on: April 23, 2025
The real effective exchange rate (REER) of the Indian rupee declined to 101.49 in March, down from 102.37 in February, according to the Reserve Bank of India’s latest bulletin. This marks a continued easing after peaking at 108.14 in November 2024. The depreciation reflects both currency market dynamics and a narrowing inflation gap between India and its trading partners.
Despite initial depreciation in March, the rupee stabilised mid-month, supported by renewed capital inflows. HDFC Bank’s principal economist Sakshi Gupta noted that the current REER level is likely to hold in April due to stable or strengthening global currencies.
In the forward market, the RBI’s net short dollar position climbed to $88.7 billion by end-February, a sharp rise from $77.5 billion in January. The spot market saw net dollar sales of $1.6 billion in February, following $11.1 billion in January, reflecting continued forex intervention. Overall, the RBI had a net purchase of $41.27 billion for FY2023-24, including significant activity in swap contracts across various tenures.
Published on: April 23, 2025
Several companies are set to be in focus in today's trade, driven by a mix of earnings announcements, strategic deals, and regulatory approvals:
Bharti Airtel: Along with its unit Bharti Hexacom, has signed agreements with Adani Data Networks to acquire 400 MHz spectrum usage rights in the 26 GHz band across six key telecom circles.
LTIMindtree & Bajaj Housing Finance: Investor attention will be on these stocks as both companies are set to release their quarterly earnings. LTIMindtree reported a 6.2% YoY drop in net profit to ₹4,307 crore, despite a 1.2% rise in revenue to ₹30,246 crore. An interim dividend of ₹18 per share was declared.
Waaree Energies: Reported a 37.69% rise in Q4 revenue to ₹4,140 crore. Full-year revenue jumped 28% YoY to ₹14,846.06 crore, indicating robust demand in the renewable energy sector.
Bharat Forge: Received Competition Commission of India (CCI) approval for its acquisition of AAM India’s manufacturing operations, subject to voluntary modifications.
360 One WAM: The CCI has cleared 360 ONE Private Equity Fund's acquisition of a stake in Bharti Axa Life Insurance, along with fresh equity subscriptions by 360 ONE and Bharti Life Ventures.
Cyient DLM: Posted a net profit of ₹31 crore in Q4, with operational revenue climbing 18% to ₹362 crore.
Power Finance Corp (PFC): The company is evaluating options to recover ₹307 crore in dues from Gensol Engineering.
Delta Corp: Reported a net profit of ₹165 crore, though revenue dipped by 1% to ₹183 crore in the fourth quarter.
Ashoka Buildcon: Secured a ₹568.86 crore railway infrastructure project from Central Railway, boosting its order book.
These developments are expected to guide investor sentiment across sectors such as telecom, IT, renewables, infrastructure, and finance.