Source: CNBCTV18
Net profit down 23.3% at ₹51.3 crore vs ₹70.6 crore (YoY)
Revenue down 24% at ₹459.8 crore vs ₹604.3 crore (YoY)
EBITDA down 40.7% at ₹78 crore vs ₹131.4 crore (YoY)
Margin at 16.94% vs 21.74% (YoY)
GE Vernova T&D India on Friday (May 23) reported a nearly three-fold jump in its net profit to ₹186.49 crore for the March quarter, mainly on the back of higher revenues.
Glenmark Pharmaceuticals Ltd. announced its consolidated financial results for the fourth quarter and full fiscal year 2025, demonstrating healthy revenue growth despite challenges in North America.
#NewsFlash | Eternal In Focus,
????Both MSCI and FTSE announce weight reduction in indices
????This follows a reduction in the Foreign Ownership Limit (FOL) of the company from 100% to 49.5% pic.twitter.com/EMq8fPbYOS
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Sun Pharmaceutical Industries Ltd. on Friday announced a fresh investment of up to $25 million in US-based biopharmaceutical firm Pharmazz Inc., raising its stake to approximately 22.7% on a fully diluted basis. The move deepens Sun Pharma’s push into high-value specialty products, particularly in the neurological and critical care segments.
Havells India to invest ₹340 crore to further hike cables capacity at Alwar location, the company said on Friday. The Alwar plant’s total cables capacity to be 41.45 lakh km.
– Net profit up 65.4% at ₹210 crore vs ₹127 crore (YoY)
– Revenue down 2.6% at ₹2,055 crore vs ₹2,110 crore (YoY)
– EBITDA up 65.5% at ₹240 crore vs ₹145 crore (YoY)
– Margin at 11.7% vs 6.9% (YoY)
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹63.60 lakh on Union Bank of India for non-compliance with regulatory provisions related to depositor fund transfers and agricultural lending norms.
Steel major JSW Steel Ltd. on Friday, May 23, reported a nearly 14% year-on-year rise in its consolidated net profit at ₹1,501 crore in the March quarter of the last fiscal. The same was ₹1,322 crore in the last year quarter. The profit figure was higher than CNBC-TV18 poll of ₹1,470 crore.
#StocksToWatch | Here’s a list of stocks in focus going into trade today???? pic.twitter.com/py5syqyckm
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The ongoing fourth earnings season is entering its final phase this week, with companies like Nazara Technologies, Aurobindo Pharma, Akums Drugs and Pharmaceuticals, KEC International, RateGain Travel Technologies, Awfis Space Solutions, Venus Pipes & Tubes, Olectra Greentech, Bajaj Healthcare, Gillette India, Balaji Amines, Blue Dart Express, Shilpa Medicare, Hi-Tech Pipes, Laxmi Dental, Apeejay Surrendra Park Hotels, Snowman Logistics, Talbros Automotive Components, Yatharth Hospital & Trauma Care Services, Infibeam Avenues, among others, reporting their earnings for the January to March period on Monday, May 26.
Follow CNBC-TV18’s live blog for the latest updates on Q4 results today
#CNBCTV18Market | Here’s how the global market cues are placed this morning???? pic.twitter.com/pQ83eWU6Wv
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Nomura has downgraded shares of Balkrishna Industries Ltd. to “neutral” from its earlier rating of “buy”, slashing its price target to ₹2,644 from ₹3,242, citing increased risks as the company plans to diversify into more competitive tyre segments.
Nomura on Ashok Leyland
Buy call, target ₹275/share
Q4 EBITDA in-line; pick-up in replacement demand could drive growth in FY26
Expect 5% M&HCV growth in FY26/FY27 backed by improved government capex
Sees lower interest rates and lower fuel prices
Expect FY25–27 earnings CAGR of 15%
Current valuations at 9.5x FY27 EV/EBITDA and 15x P/E (ex-investments) look attractive
Increase EPS estimates for FY26/27 by 7.8%/7.8%
Morgan Stanley on Ashok Leyland
Overweight call, target ₹284/share
Revenue lower than estimates, EBITDA ahead of estimates
EBITDA margin came in at 15% vs estimate of 14.3%
Adjusted PAT for write-off of intangible assets and impairment loss at ₹1,260 crore
HSBC on Ashok Leyland
Downgrade to Hold, target raised to ₹260/share
Operating leverage and cost-cutting initiatives led to strong operating margins in Q4
Going forward, believe demand and cost-related headwinds will keep margin under pressure
Can the Domestic Money take advantage today?
Financial markets closed
US: Memorial Day
UK: Spring Bank Holiday
FII On Index Futures (on contracts)
Change in OI Positioning
Longs +3670 33%
Shorts +2558 67%
Positioning on Index Futures
FII -54197
Clients +58947
NIFTY OPTIONS (May 29)
Strike Change in OI Premium
24900 Call +21.35 lk shares 192
24950 Call +9.31 lk shares 168
24800 Put +33.34 lk shares 168
Nifty making lower highs!
19-May-25 25,063
20-May-25 25,010
21-May-25 24,946
22-May-25 24,738
23-May-2025 24,909
Nifty levels to track
Resistance 25,125
22-May-25 low 24,462
Nifty Bank resistance: 56000!
US President Trump delayed the imposition of 50% tariffs on the EU until July 9.
Stock to track: TATA Motors
Monday Cues: Following the Trump Rollercoaster!
Asian markets cheer extension of EU 50% tariff deadline
Japanese Prime Minister Shigeru Ishiba: Seeing progress in trade negotiations with US; Tokyo aims to advance tariff talks
US steel shares surge 23% on as merger with Nippon Steel gets cleared
Trump: US Steel entering a ‘planned partnership’ with Nippon Steel
Russia launches largest ever drone and missile attack on Ukraine over weekend
13 dead in barrage of 367 drones and missiles launched at Ukrainian cities
Oil prices rangebound on expected supply increase from OPEC Plus
Domestic Cues
Nifty sees consolidation last week; Friday a day of Positive FPI Flows
FPIs net buy ₹1,794.6 crore in cash market
DIIs net buy ₹299.8 crore in cash market
RBI announces dividend of ₹2.69 lakh crore for FY25
RBI FY25 dividend to govt 27% higher than FY24
IMD on monsoon progress
Southwest Monsoon Has Covered Goa And Reached Maharashtra’s South Konkan Region
Monsoon Arrives 10 Days Early in Maharashtra; Earliest Arrival on Record
IPO Buzz
Leela Hotels IPO: ₹2,500 fresh issue, ₹1000 crore OFS
Aegis Vopak Terminals IPO: Fresh issue of ₹2,800 crore
JSW Steel in Focus: Bhushan Power & Steel insolvency case hearing in NCLT & Supreme Court
Shares of Tata Motors Ltd. will be in focus on Monday, May 26, after US President Donald Trump delayed the imposition of 50% tariffs on the European Union until July 9.
US markets shut for Memorial Day on Monday
On Friday: Nasdaq -1%, Dollar Index -0.85% to 99.11
Two themes in focus
1. Has the good news on tariffs peaked?
2. Will long-end bond yields continue to rise?
Has the good news on tariffs peaked?
Trump recommended a 50% Tariff on the EU as soon as June 1st if trade negotiations fail
Bessent: Hopes Trump’s threat would “light a fire” under the EU
EU Chief Ursula von der Leyen: “Europe is ready to advance talks swiftly and decisively”
Trump responded & said he agreed to extend the 50% tariff deadline to July 9th
Trump threatens to impose 25% tariffs on Apple if iPhones weren’t made in the U.S.
Will long-end bond yields continue to rise ?
Clear gathering pressure on the back end of global interest rate curves
Question is if a break out in yields hurt stocks
Market will watch response to US Treasury bond auctions
Treasury announced $183 billion in supply for this week (auctions on Tuesday, Wednesday & Thursday)
Nifty resistance at 25,116
On the downside, Nifty support at 24,462
Bank Nifty also bounced back from 20-day MA
Bank Nifty resistance at 55,695
Bank Nifty support at 54,576
Benchmark indices rallied on Friday with the Sensex gaining 769 points to close at 81,721 and the Nifty rising 243 points to end at 24,853. The Nifty Bank gained 457 points to 55,398 while the Nifty Midcap index added 363 points to settle at 56,688.
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