Published on: February 10, 2025
Indian equity markets opened lower on Monday, with the Sensex and Nifty both showing notable declines. Global trade tensions, fueled by US President Trump's announcement of new steel tariffs, weighed heavily on market sentiment, particularly affecting metal stocks like Tata Steel and JSW Steel.
The market also reacted to weaker-than-expected US jobs data and rising Treasury yields. Despite the BJP's victory in the Delhi Assembly Elections, analysts expect limited rally potential, with continued foreign institutional investor (FII) selling and cautious domestic sentiment.
A key focus remains on upcoming inflation data, with the Reserve Bank of India's recent policy rate cut providing some support for sectors like real estate and banking.
Published on: February 7, 2025
Indian equities opened on a positive note on Friday (February 7) as investors anticipated the Reserve Bank of India’s interest rate decision later in the day. The BSE Sensex gained 0.14% to 78,163.82, while the Nifty50 jumped 0.15% to 23,638.4. Broader market indices, including Nifty Midcap 100 and Nifty Smallcap 100, underperformed, with losses of up to 0.9%.
Sector-wise, metal and auto stocks saw mild gains, while oil & gas and FMCG were among the biggest losers. Nifty50 gainers included Bharti Airtel, Tata Steel, JSW Steel, and HDFC Bank. Notable stock movements included Hero MotoCorp, which rose nearly 3% after posting strong Q3 results, and Bharti Airtel, which gained 5% following a significant profit jump.
Meanwhile, Asian markets were mixed, with China’s Shanghai Composite up over 1%, while Japan's Nikkei and South Korea's Kospi traded lower. Investors remain optimistic about a potential 25-basis point rate cut to spur growth, following the Union Budget's focus on consumption.
Published on: February 7, 2025
Mahindra & Mahindra (M&M) shares will remain in focus as the company reports its third-quarter earnings on February 7. The stock has shown impressive performance, rising 5.3% in the last five trading sessions, 1.4% over the past month, and 17.57% over the last six months.
M&M's stock has surged by more than 83% in the past year, making it one of the top-performing auto stocks. The company also reported a 16% YoY increase in auto sales, reaching 69,768 units in December 2024, although sales dipped by 11.77% from November 2024.
M&M’s utility vehicle sales saw an 18% growth, and the company has recently launched two electric SUVs—XEV 9e and BE 6e. The stock's performance, alongside its recent launches and sales growth, will keep investors’ attention on M&M as it prepares to release its earnings report.
Published on: February 7, 2025
Akzo Nobel India Ltd. reported a 5% decline in profit for Q3 FY2025, with net profit falling to Rs 109 crore from Rs 114 crore in the same period last year. The paintmaker’s revenue increased by 1.7%, reaching Rs 1,050.5 crore, while operating earnings (EBITDA) saw a modest rise of 0.3%.
The company’s margin contracted to 15.9% from 16.1% in the previous year. Despite market challenges, Chairman Rajiv Rajgopal attributed the growth in revenue to strong demand from sectors such as infrastructure, power, and real estate.
The disappointing results come as Akzo Nobel’s Dutch parent reviews its portfolio in South Asia, with potential buyers, including Berger Paints and JSW Paints, eyeing a stake acquisition. Shares of Akzo Nobel India fell 0.34% post-results.
Published on: February 7, 2025
ITC has signed definitive agreements to acquire Prasuma, a leading player in India’s frozen, chilled, and ready-to-cook food segment. The acquisition aims to bolster ITC's position in the fast-growing frozen food market. Founded by Lisa Suwal and Siddhant Wangdi, Prasuma is renowned for its frozen momos, deli meats, and pan-Asian products, with a presence in over 100 cities.
The company operates its direct-to-consumer platform, Meatigo by Prasuma, which delivers frozen food across major cities. This partnership combines Prasuma's manufacturing and innovation strength with ITC's distribution expertise, positioning them to revolutionize the frozen food industry in India.
Ernst & Young acted as the investment banker, and Shardul Amarchand Mangaldas & Co. served as the legal counsel for Prasuma in this transaction.
Published on: February 7, 2025
The eighth edition of the Bengal Global Business Summit (BGBS) concluded in Kolkata with West Bengal Chief Minister Mamata Banerjee announcing investment proposals worth over Rs 4.40 lakh crore. The two-day summit saw 212 MoUs and Letters of Intent (LoIs) signed, with key highlights including a significant oil exploration project with ONGC.
The Chief Minister emphasized the state's position as a prime investment destination, citing progress from the previous year's summit. Prominent industry leaders, including Mukesh Ambani and Sajjan Jindal, shared ambitious investment plans, further solidifying Bengal's role as a business hub.
Banerjee also celebrated her government's development initiatives, which have significantly improved infrastructure and uplifted millions of people from poverty. The summit featured representatives from 20 partner countries, showcasing Bengal's growing global appeal.
Published on: February 7, 2025
India continued to be a net importer of steel, with inbound shipments rising over 20% to 8.29 million tonnes during the April-January period of the current fiscal year, according to official data. This marks an increase from 6.89 million tonnes in the same period of the previous fiscal year.
On the other hand, steel exports fell by 28.9% to 3.99 million tonnes, down from 5.62 million tonnes in the corresponding period of the previous year. Domestic steel industry players have raised concerns about the surge in imports, particularly from countries like China, which they believe affects their competitiveness.
Experts such as Steel Secretary Sandeep Poundrik and Tata Steel CEO TV Narendran have called for increased domestic steel production capacity to reduce reliance on imports. Additionally, the industry is urging the government to raise the basic customs duty on stainless steel products to 15% for non-FTA countries.
Published on: February 7, 2025
In today’s trade, Carraro India, Sonata Software, Brainbees Solutions, Rajesh Exports, and Rossell Techsys were among the stocks that touched their 52-week lows. Meanwhile, stocks like Pansari Developers, Aarti Pharmalabs, Nxt-Infra Trust, Nandani Creation, and Wonder Fibromats reached fresh 52-week highs.
Domestic benchmark indices saw a decline, with the Nifty 50 closing 43.4 points down at 23,559.95 and the BSE Sensex finishing 197.97 points lower at 77,860.19. On the Nifty 50 index, Tata Steel, Bharti Airtel, JSW Steel, Trent, and Hindalco emerged as the top gainers, while ONGC, ITC, SBI, Britannia, and Adani Ports SEZ were among the major losers of the day.
Published on: February 7, 2025
Indian equity markets ended lower on Wednesday, despite the Reserve Bank of India’s (RBI) decision to cut interest rates for the first time since May 2020. The BSE Sensex dropped by 0.25%, closing at 77,860.19, while the Nifty 50 fell 0.18%, ending at 23,559.95.
The RBI reduced the repo rate by 25 basis points to 6.25% but maintained a neutral stance, leading to disappointment among investors who had expected more liquidity measures. Global trade tensions and continued foreign institutional investor (FII) outflows added to the market's woes, with FIIs selling stocks worth ₹723 billion in January.
Despite the dip, certain sectors like metals saw gains, with Tata Steel and Bharti Airtel leading the charge. The market breadth remained negative, and analysts remain cautiously optimistic, suggesting a "buy on dips" approach for the near term.
Published on: February 7, 2025
Bharti Airtel is directing its capital expenditure (capex) towards expanding its 5G network to meet the growing demand for mobility and fixed wireless access (FWA) services. The company’s Vice-Chairman and MD, Gopal Vittal, revealed that Airtel is no longer investing in 4G capacity, focusing instead on increasing its 5G radio infrastructure.
With a user base of 120 million 5G subscribers, Airtel is also expanding its fiber home pass and strengthening its backbone network to support wireline broadband, B2B, and mobile operations. The company is committed to diversifying beyond wireless services and capitalizing on India's rapidly growing broadband market.
Airtel has also decided to exit its low-margin global wholesale voice and messaging business, reallocating resources towards high-growth areas such as digital services and connectivity. Despite this, the company expects this move to have minimal impact on its EBITDA.
Published on: February 7, 2025
On February 7, the BSE Telecommunication index rose by 3%, led by strong performances from Bharti Hexacom and Bharti Airtel. Bharti Hexacom shares surged by over 7%, while Bharti Airtel gained nearly 4%.
Indus Towers also saw a 3% increase following the announcement of its acquisition of Bharti Airtel and Bharti Hexacom's mobile sites for Rs 3,308.7 crore, including 16,100 telecom towers. Additionally, telecom companies are preparing for payments related to deferred spectrum costs and AGR dues, due after September 2025.
The Indian government’s renewed focus on broadband connectivity, as announced in the Union Budget 2025, along with advances in spectrum sales, is positively impacting the sector. However, the government's telecom revenue is projected to decline by 33% in FY26.
Published on: February 7, 2025
Indian equity markets are expected to open on a positive note, as indicated by GIFT Nifty futures, ahead of the Reserve Bank of India’s key interest rate decision. On Thursday, the Sensex and Nifty closed lower, driven by sectoral declines in financials, FMCG, and IT.
Major companies reporting earnings today include Life Insurance Corporation of India (LIC), Mahindra & Mahindra, Bharti Airtel, SBI, and Hero MotoCorp, among others. Bharti Airtel saw a 505% YoY increase in net profit, while SBI reported an 84% YoY profit jump.
Hero MotoCorp and ITC showed growth and decline in profits, respectively. Meanwhile, several companies such as Vakrangee and Indus Towers made strategic announcements. Investors will also keep an eye on developments in the global markets, with Asian indices showing mixed results and US markets closing higher.
Published on: February 7, 2025
On February 7, the Sensex and Nifty ended lower after a volatile trading session, despite the Reserve Bank of India’s (RBI) decision to cut the repo rate by 25 basis points to 6.25%, the first such reduction in nearly five years. While auto, telecom, and metal stocks gained, financials, FMCG, and IT sectors pulled the Nifty lower.
Foreign institutional investors (FIIs) continued to sell, weighing on the market's performance, especially in banking stocks. The Nifty Metal index surged by 2.5%, while the broader markets showed mixed results.
The RBI’s neutral stance on monetary policy reflects flexibility amid global uncertainties, including trade tensions. Analysts anticipate the rate cut to support sectors like real estate and infrastructure but expect a cautious market response due to ongoing global and domestic challenges.
Published on: February 7, 2025
On February 7, stocks in rate-sensitive sectors reacted differently to the Reserve Bank of India’s (RBI) decision to reduce the repo rate by 25 basis points to 6.25%, marking the first rate cut since May 2020.
Auto and real estate stocks saw gains, with Apollo Tyres, Ashok Leyland, M&M, and Samvardhana Motherson International rising up to 3%, and realty giants like Lodha, Godrej Properties, and Oberoi Realty gaining between 1% and 2.6%. In contrast, banking and financial stocks, including Bajaj Finance, SBI, Axis Bank, and ICICI Bank, saw declines of up to 1.2%.
The RBI’s rate cut, part of a broader effort to stimulate growth, comes amid projections for 7.2% GDP growth in FY 2024-25 and an inflation target of 4.2% for FY 2025. The central bank also raised India’s FY26 growth forecast to 6.7%.
Published on: February 7, 2025
On February 7, Sensex and Nifty traded flat following the Reserve Bank of India's (RBI) decision to reduce its key repo rate by 25 basis points to 6.25%. This marks the first rate cut since May 2020 and comes as the RBI aims to boost economic growth amid slowing momentum and weak corporate earnings.
The rate cut, in line with analysts' expectations, has resulted in a mixed sectoral performance, with gains in realty and metal stocks, while FMCG shares remain sluggish. Despite tepid market performance, the rate cut has ignited hope for liquidity-driven economic revival, although concerns around the weakening rupee and foreign outflows persist. Key market levels to watch include the support at 23,500 and resistance near 23,700 on the Nifty.