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April 17, 2025

Daily Morning Report Date: 17.04.2025
NIFTY OUTLOOK: 23437.20 FII: 3936.42 cr DII: -2512.77 cr
As discussed yesterday, market behaviour remained on expected lines. A recovery in the last hour helped the index extend its upward trend towards the resistance of 23433, finally settling at 23437.20.
A small bullish candle followed by a hanging man on the daily chart suggests weak buying pressure and possible profit booking, though it may also indicate a continuation of the uptrend. If the uptrend continues and crosses 23533, we may see a further rally up to 23631–23733. With stronger demand, it may even test 23829.
On the downside, profit booking could drag the index to support zones of 23340–23243. A break and sustain below these levels may lead to further decline towards 23137–23051.
Bank Nifty OUTLOOK:
SPOT: 53117.75 PCR: 1.13 Max CE OI: 55000 Max PE OI: 50000
On 16th April 2025, Bank Nifty closed at 53117.95, up 1.41% from the previous day. The index moved 693.10 points intraday, with a high of 53164.45 and a low of 52471.35.
The previous day’s high and low can be considered immediate resistance and support, respectively, for today’s session.
Technical View on Daily Chart:
The key technical levels on the daily chart of Bank Nifty are 53980 as resistance and 52150 as support. The index touched the 53168 level as mentioned in yesterday’s report. If it crosses and sustains above 53168 today, it may move towards 53980. On the downside, a breach below 52150 may drag it to 51576.50.
The RSI for Bank Nifty stands at 67.7; below 30 is considered oversold and above 70 overbought.
Bank Nifty Day SMA Analysis:
Bank Nifty is trading above all 8 SMAs (5, 10, 20, 30, 50, 100, 150, 200-day).
It is trading below none of the SMAs.
A bullish candlestick pattern has been identified in Bank Nifty.
• Closing Marubozu Uptrend
Macros:
1. Dollar index @ 99.26
2. Vix @ 32.64 ( +8.37 % )
3. Crude@ 66.38
4.10 years bond yield @ 4.307
Note:
U.S. stock index futures held steady Wednesday evening after a sharp Nvidia-led decline, as Fed Chair Jerome Powell highlighted risks from tariffs and signaled no rate cuts in the near term.
Markets fell after Powell cited inflationary pressures and economic uncertainty due to new tariffs. Caution is advised; it's a buy-on-dips market.
Contributed by
Ashok bhandari : INH000019549
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SONATA SOFTWARE; Co. says revenue estimates for Q4 2024-25 from our largest client are likely to be lower than anticipated, resulting in lower revenue from our international business for the said quarter than previously envisioned during the previous Analyst/Investor call held on 6th February 2025
LUPIN ; Lupin faced a patent infringement case from Astellas Pharma over its generic Mirabegron.
On April 15, 2025, the Court upheld the validity of Astellas’ U.S. Patent No. 10,842,780. Remaining issues, including infringement, damages, and other invalidity claims, will go to a jury trial in 2026.
As on now, based on the Court Order, there are no material financial implications.
The Company believes it has a strong case and is evaluating further legal action in the matter.
@beatthestreet10
ANGEL ONE Q4 HIGHLIGHTS
This Was 1st Full Quarter Which was Impacted By SEBI's news F&o Rule
A Client base stood at 31.0 mn, a growth of 5.1% on Qo0 basis
1.6 mn clients added in 04 '25, a de-growth of 22.4% on QoQ basis
Average Daily Turnover (ADTO)
On notional basis: 32.1 trillion in Q4 '25 vs 40.0 trillion in Q3 '25, a de-growth of 19.7% on QoQ basis
On premium basis (for equity option segment): 850 billion in Q4 '25 vs 854 billion in Q3 '25, a de-growth of 0.4% on Qoq basis
@beatthestreet10
KARNATAKA BANK ; In line with RBI and Board directions, and following the reconciliation deficiencies in suspicious UPI Global transactions reported on February 17, 2025, Karnataka Bank has appointed M/s. Pipara & Co. LLP, Chartered Accountants, Ahmedabad, as Forensic Auditors to review and report on the matter.
Bank Says It is reiterated that the incident reported earlier or the forensic audit being initiated have no impact on the operations of the Bank nor on customer servicing.
@beatthestreet10
*Earnings In Focus*
HDFC Asset Management Co., HDFC Life Insurance Co., Infosys Ltd. and Tata Elxsi Ltd.
*Earnings Post Market Hours*
*Wipro Q4 FY25 (Consolidated, QoQ)*
Revenue up 0.8% at Rs 22,504 crore versus Rs 22,319 crore (Bloomberg estimate at Rs 22,685 crore).
EBIT up 1% at Rs 3,902 crore versus Rs 3,863 crore (Bloomberg estimate at Rs 3,924 crore).
EBIT margin flat at 17.3% (Bloomberg estimate at 17.3%).
Net profit up 6.6% at Rs 3,588 crore versus Rs 3,367 crore (Bloomberg estimate at Rs 3,317 crore).
*Waaree Renewable Technologies Q4 (Consolidated, YoY)*
Revenue up 74.4% at Rs 477 crore versus Rs 273 crore.
Ebitda up 67.8% at Rs 126 crore versus Rs 75.3 crore.
Margin at 26.5% versus 27.5%.
Net profit up 82.8% at Rs 93.8 crore versus Rs 51.3 crore.
*Angel One Q4 (Consolidated, YoY)*
Total income down 22.1% at Rs 1,058 crore versus Rs 1,359 crore.
Net Profit down 48.7% at Rs 175 crore versus Rs 340 crore.
Approves and recommends final dividend of RS 26 per share.
*GTPL Hathway (Consolidated, YoY)*
Revenue up 10.27% at Rs 890.99 crore versus Rs 807.98 crore.
Ebitda down 5.69% at Rs 106.49 crore versus Rs 112.91 crore.
Margin at 11.95% versus 13.97% down 202 bps.
Net profit down 19.27% at Rs 10.64 crore versus Rs 13.18 crore.
*Stocks To Watch*
*Zydus Lifesciences:*: The company clarified the recent US court ruling against it regarding patent validity in the Myrbetriq case. It stated that it is assessing the order's potential impact and confirmed that no negotiations are ongoing as the matter pertains to patent-related issues. The company attributed the stock decline to the Delaware court ruling.
*Lupin:*The company confirmed that a US court has issued an order regarding the Myrbetriq Patent Case. Lupin clarified that it is not aware of any information that has not been disclosed to stock exchanges. The company is in the process of notifying exchanges about the court order within the required timeline. It is currently evaluating the order's impact and will provide updates to the exchanges once the assessment is complete.
*One 97 Communications:* Vijay Shekhar Sharma, managing director and chief executive officer, announced that he has voluntarily relinquished his allotted 2.1 crore ESOPs. Consequently, a one-time acceleration of ESOP expenses amounting to Rs 492 crore will occur in the fourth quarter of fiscal 2025.
*Gensol Engineering:* The company acknowledges SEBI's interim order and confirms compliance with its directives. Anmol Singh Jaggi and Puneet Singh Jaggi have stepped down from management roles in Gensol as per SEBI's directions.
*UltraTech Cement:* The company has signed an agreement to acquire a 26% stake in Ampin C&I Power Eight Pvt. for Rs 25.5 crore, aiming to fulfill green energy requirements and optimize energy expenses.
*DLF:* The company has signed a master framework agreement with Srijan Realty to sell IT/ITeS SEZ land in Kolkata for Rs 693 crore.
*360 One Wam:* The company plans to evaluate a proposal for raising funds preferentially through the issuance of equity shares and/or warrants.
*Glenmark Pharmaceuticals:* The company plans to launch its Dextroamphetamine-Amphetamine tablets, bioequivalent to Adderall, with distribution starting in May 2025. IQVIA sales data shows the Adderall tablet market reached approximately $421.7 million in annual sales as of February 2025.
*Deepak Nitrite:* Deepak Chem Tech, a subsidiary, has issued and allotted 1.63 crore convertible redeemable preference shares with a face value of Rs 100 each to Deepak Phenolics, another wholly owned subsidiary.
*Bharat Heavy Electricals:* The company has signed a technology transfer agreement with Bhabha Atomic Research Centre for separator applications in electrochemical cells.
*Metropolis Healthcare:* The company announces that the acquisition of Ashok Kumar Sharma's Scientific Pathology, initially expected to conclude within 45 days of signing the securities subscription-cum-shareholders agreement, will now require an additional 45 days to complete.
*SML Isuzu:* Yasushi Nishikawa will Join the company as the managing director and chief executive officer.
*AWL Agri Business:* The company has acquired an 80% stake in G. D. Foods Manufacturing (India) Pvt.
*Reliance Industrial Infrastructure:* The company's board has recommended a dividend of Rs 3.5 per share.
*Tanla Platforms:* The company has collaborated with two international telecom providers to implement messaging as a platform for rich media communication.
*Home First Finance Co:* The company has successfully raised Rs 1,250 crore through a qualified institutional placement
*Muthoot Capital Services:*' The company plans to consider a proposal for raising funds through bonds on April 22.
*MSTC:* The company has received an income tax demand of Rs 178.4 crore, which includes Rs 27.9 crore in interest, for the assessment year 2025.
*Bajaj Electricals:* The company has announced a partnership with SEAK s.r.o., a Slovakia-based leader in smart lighting and EV charging control systems. According to the CEO, this collaboration represents a significant step forward in the company’s efforts to revolutionize tunnel lighting in India.
*Petronet LNG:*' The company has approved the appointment of Saurav Mitra as CFO, effective from April 18.
*SBI Cards and Payment Services:* The company has partnered with Tata Digital to introduce the Tata Neu SBI Card.
*Coforge:* The company's Australian arm, Coforge Tech Australia's subsidiary has acquired 100% of shares of TMLabs Pty.
*Laxmi Dental:* The company plans to acquire shares worth up to $1 million in its foreign subsidiary, Laxmi Dental Lab USA INC, to finalise the terms of a strategic investment. Necessary approval for the fund transfer has been secured from the RBI.
*Delta Corp:*' The debentures of Peninsula Land have been converted into shares.
*Bulk/Block Deals*
*Gensol Engineering:* Neo Apex Venture bought 2.9 shares or 0.76% equity at Rs 122.68 each. Multiplier Share & Stock Advisors sold 3.15 lakh shares or 0.83% equity.
*Sami Hotels:* E City Real Estates bought 12.5 lakh shares or 0.56% equity at Rs 171.56 each.
*Trading Tweaks*
*Price band change for*: Garware Hi-Tech Films Ltd. from 10% to 5%
*Ex date and record date of dividend for* Sanofi Consumer Healthcare India.
*List of securities to be added in short-term ASM:* Paradeep Phosphates Ltd., Websol Energy System Ltd.
*F&O BAN*
BSOFT
HINDCOPPER
IREDA
MANAPPURAM
NATIONALUM
@beatthestreet10
HERO MOTO ; Co. says Production will be temporarily paused from April 17 to 19, 2025, at four of our manufacturing plants Dharuhera, Gurugram, Haridwar, and Neemrana as we navigate a short-term supply alignment.
During this planned pause, we are taking the opportunity to carry out maintenance, upkeep, and facility enhancements to further strengthen our operations. Production will resume on April 21, 2025.
Our Tirupati and Halol plants will continue to operate during this time.
This pause will not impact our ability to meet retail demand across domestic and international markets.
Any production deferment will be efficiently recovered in the following month
@beatthestreet10
As shipments resume, US buyers want Indian sellers to split higher tariff cost.
→ Shipments from India to the US are resuming after a 90-day pause in reciprocal tariffs.
→ New Tariff : US has imposed a 10% import tariff on all trade partners (except China).
→ US Buyers' Demand : American buyers are asking Indian sellers to bear one-third of the additional tariff cost.
→ Timing Pressure : Sellers, especially in sectors like apparel, are rushing to ship goods before July 9 to avoid tariffs.
→ Challenge : Production and shipping within the short 3-month window is difficult, particularly for tailor-made products.
→ Reason for Tariff Pause : US President Trump temporarily suspended the 26% reciprocal tariffs (for India) due to recession and inflation concerns.
→ Concern for Future Orders : While existing orders are being fulfilled, the outlook for fresh orders remains unclear.
→ Market Impact : Exporters fear increased costs might shrink market demand if not managed properly.
PRESTIGE ESTATES Q4 BIZ ; New sales came in at 69,574 million, marking a 48% YOY growth, driven by strong customer response to launches and premium offerings.
Sales volume stood at 4.49 million square feet, a 9% increase YoY, reflecting healthy absorption.
Total units sold during the quarter stood at 2,301.
The average realization for apartments, villas, and commercial properties was 15,524 per square foot, representing a 25% YoY increase.
For plotted developments, the average realization rose to 6,975 per square foot, a 27% increase from the same quarter last year.
Collections for the quarter were 31,551 million, representing a 9% decline YoY.
The Company launched 14.03 million square feet during the quarter, spanning four projects- Prestige Suncrest and Prestige Southern Star-Ph 1in Bengaluru, Prestige Nautilus in Mumbai and Prestige Spring Heights in Hyderabad, with a combined GDV potential of 161,338 million
@beatthestreet10
PURVANKARA BIZ UPDATE; Achieved customer collection of Rs 3,937 crores in FY25, up by 9% compared to Rs 3,609 crores in FY24. Achieved quarterly customer collections from the real estate business of Rs 946 crores in Q4FY25.
Achieved quarterly sales value of Rs 1,282 crores for Q4FY25; and Rs 5,006 crores for FY25.
Average price realisation in FY25 increased to Rs 8,830/sft, up by 10% from Rs 8,035/sft in FY24.
Average price realisation in Q4FY25 increased to Rs 9,031 /sft, up by 9% from Rs 8,285/sft in Q4FY24.
During FY25, the Group invested over Rs 1,300 crores to secure land with total area of approx. 8 msft with estimated potential GDV of over Rs 13,000 crores..
@beatthestreet10
PURVANKARA BIZ UPDATE; Against the planned 13 million sq. ft. of launches in FY25, we opened approximately 3 million sq. ft. for sale during the year, approval delays have temporarily deferred several launches.
However, we are now in the advanced stages of securing approvals and expect to launch majority of the deferred projects over the next two quarters.
Co. says We are expecting Occupancy Certificates (OC) for several key projects in the upcoming financial year, with total area of 3.95 million sf.ft with a combined GDV of over Rs 3,200 crores.
Co. successfully launched much-awaited project, 'Purva Panorama' in Thane, Mumbai, with a total development potential of 3 million sq. ft. with an estimated GDV of Rs 4,000 crores, commencing with Tower C, which covers 0.52 million sq. ft
In FY26, we have a strong launch pipeline of over 13 million sq. ft., comprising 9 million sq. ft. of new projects and 4 million sq. ft. of new phase launches. Projects with total area of 5 million sq.ft are at advanced stages of securing approvals and expected to go live within the next two quarters.
@beatthestreet10
PRESTIGE ESTATES MISSES FY25 PRE SALES GUIDANCE
FY25 PRE SALES AT 17,023 CR V 24,000 CR GUIDANCE
@beatthestreet10
AMUNDI ,FLORIAN NETO Says India is our preferred country w.r.t Asian equities, it is our max overweight call - CNBCTV 18
Prefer domestic facing equity stories in Asia including India, China & Philippines
Have been reducing positions in South Korea & Taiwan as they will be impacted by tariffs
Indian valuations are not cheap at 20x for quality large caps
Believe that S&P 500 mkts will be higher by the end of the year
Disinflation story in Asia is making Asian fixed income look attractive
@beatthestreet10
ANGEL ONE Q4 , ABOVE ANALYST ESTIMATES
PROFIT AT 175 CR V B&K ESTIMATES OF 170 CR
REVENUE DOWN 16 % QOQ V MOTILAL ESTIMATES OF 31 % DROP
EBITDA MARGINS AT 32.4 % V B&K ESTIMATES OF 31.6 %
NO. OF ORDER DOWN 22.4 % QOQ V MOTILAL ESTIMATES OF 22 % DROP
@beatthestreet10
WIPRO Management says There is uncertainty in the mkt, hope it settles in the next few months - CNBCTV 18
See delays in start of new projects & discretionary spends due to uncertainty
Majority of the deals are for cost optimisation, which will continue
Q1 focus will be to convert the deal pipeline into wins
Endeavour to hold margin in narrow band, at approx 17%+
There is a pricing pressure for sure, many large deals are for vendor consolidation & cost takeout
@beatthestreet10
IDFC FIRST; Bank To Allot 43.71 Cr Compulsorily Convertible Pref Shrs At ₹60/sh To Platinum Invictus
@beatthestreet10
Jefferies on Pharma
Pharma tariffs coming: Expect the unexpected
Believe generics won't be exempted but could be better placed to pass on the tariffs' impact than branded drugs
Assuming 25% tariffs are imposed, contrary to market expectations
@beatthestreet10
IDFC FIRST; Bank To Allot 81.26 Cr Compulsorily Convertible Pref Shrs At ₹60/sh To Currant Sea Investments
@beatthestreet10
IDFC FIRST; Board Approves Fundraise Of Up To 7,500 Cr From Two Separate Investors
@beatthestreet10
SONATA SOFTWARE DOWN 11 % ON CLIENT REVENUE UNCERTAINTY
@beatthestreet10
SONATA SOFTWARE; Co. says revenue estimates for Q4 2024-25 from our largest client are likely to be lower than anticipated, resulting in lower revenue from our international business for the said quarter than previously envisioned during the previous Analyst/Investor call held on 6th February 2025
@beatthestreet10
IDFC FIRST BANK: Warburg Pincus ( Currant Sea Investments ) And Abu Dhabi Investment Authority ( Platinum Invictus ) To Invest Rs 7500 Cr In Bank At ₹ 60/Share
@beatthestreet10
SONATA SOFTWARE DOWN 12 % NOW
@beatthestreet10
WAAREE RENEWABLE UP 11 % ON SOLID Q4
@beatthestreet10
Fitch cuts India FY25 GDP growth forecast to 6.2% From Earlier 6.3 %
Fitch cuts India FY26 GDP growth forecast to 6.4% From 6.3 %
Fitch pegs India FY27 GDP growth forecast at 6.3%
@beatthestreet10
INFOSYS DOWN 1.5 % AHEAD Q4 RESULT. .. ALL EYES ON FY26 GUIDANCE , EXPECTED TO BE LOWER V FY25 GUIDANCE
@beatthestreet10
MS on Metal
Coal India – Downgrade to Equal-weight from Overweight; Cut TP to Rs 450 from Rs 525
JSPL – Downgrade to Equal-weight from Overweight; Cut TP to Rs 900 from Rs 1200
JSWSteel – Downgrade to Equal-weight from Overweight; Cut TP to Rs 1000 from Rs 1150
tatasteel – Downgrade to Underweight from Equal-weight; Cut TP to Rs 125 from Rs 160
SAIL – Maintain Underweight; Cut TP to Rs 90 from Rs 115
@beatthestreet10
MS on Metal
Coal India – Downgrade to Equal-weight from Overweight; Cut TP to Rs 450 from Rs 525
JSPL – Downgrade to Equal-weight from Overweight; Cut TP to Rs 900 from Rs 1200
JSWSteel – Downgrade to Equal-weight from Overweight; Cut TP to Rs 1000 from Rs 1150
tatasteel – Downgrade to Underweight from Equal-weight; Cut TP to Rs 125 from Rs 160
SAIL – Maintain Underweight; Cut TP to Rs 90 from Rs 115
@beatthestreet10
Uncertainty weighs on IT stocks
@beatthestreet10

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