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May 05, 2025

Daily Morning Report Date: 05.05.2025
NIFTY OUTLOOK: 24346.70 FII: 2769.81 cr DII: 3290.49 cr
(5th – 9th May 2025)
As discussed in the previous report dated 28th April 2025, market behaviour remained on expected lines. Nifty broke above the mentioned resistance levels and rallied to 24589.15 but failed to sustain at higher levels and reversed to close at 24346.70.
A shooting star candlestick pattern at the top of the uptrend on the daily chart, along with negative divergence on daily RSI, indicates profit booking and a cautious undertone. If profit booking continues, support is seen around 24170 to 23993. A breach below these levels may lead to further selling towards 23816 to 23640.
However, the prevailing uptrend remains intact. A decisive move above 24525 may trigger a further rally towards 24708 to 24816. If demand strengthens, it may even test 25055.
Bank Nifty OUTLOOK:
SPOT: 55115.35 PCR: 0.90 Max CE OI: 60000 Max PE OI: 53000
On 2nd May 2025, the Bank Nifty index closed at 55115.35, up 0.05% from the previous day. The index moved 697.55 points during the session, with an intraday high of 55691.95 and a low of 54994.40.
The previous day’s high of 55691.95 and low of 54994.40 can be considered immediate resistance and support levels, respectively, for today’s trading.
Technical View on Daily Chart:
Key technical levels for Bank Nifty remain at 55500 as resistance and 54750 as support. A breakout above 55500 could push the index towards 55900, while a breakdown below 54750 may drag it down to 54350.
The Relative Strength Index (RSI) for Bank Nifty stands at 67.20 — nearing the overbought zone, as levels above 70 are considered overbought and below 30 oversold.
Bank Nifty Day SMA Analysis
Bank Nifty is currently trading above 6 out of 8 key SMAs — specifically the 20, 30, 50, 100, 150, and 200-day moving averages. It remains below the 5-day and 10-day SMAs.
Additionally, a bullish candlestick pattern has been identified on the daily chart, indicating potential upward momentum.
• Spinning Top Uptrend
Macros
1. Dollar index @ 99.50
2. Vix @ 22.68
3. Brent Crude @ 59.14
4.10 years bond yield @ 4.789
Note:
Asian stock markets were subdued on Monday. Australian shares declined following weak earnings from Westpac, which dragged financial stocks lower. Other Asian markets saw only marginal gains as investors awaited clarity on U.S.-China trade talks. Markets are also eyeing a series of Chinese economic data this week, including trade balance, CPI, and PMI figures, to assess the impact of U.S. tariffs.
China stated on Friday that it is evaluating the possibility of trade talks with the U.S., but emphasized that any dialogue must be based on sincerity and the removal of unilateral tariffs. The Trump administration has also reached out to China to initiate talks, according to media reports last week.
These developments have eased fears of a full-blown global trade war, although investors are still waiting for clearer signals and official announcements on potential tariff negotiations.
Conclusion:
There may be some progress in resolving the China-U.S. tariff dispute. As for Indian equities, FIIs and DIIs continue to buy despite selling pressure from retail and HNIs, amid tensions on the Indo-Pak LOC. There is no need to panic, as a full-scale war is unlikely. Any dip in Nifty around 24,180–23,950 could present a good accumulation opportunity in case of any knee-jerk reaction to Indo-Pak developments.
Contributed by
Ashok bhandari : INH000019549
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BEAT THE STREET BULLETIN
05-May-2025
Telegram: \[t.me/beatthestreet10]
ORDER WIN
* Panth Infinity secures ₹35 Cr order from Richa Info Systems for domestic supply of goods and services.
* AVG Logistics wins ₹198 Cr, 6-year Indian Railways contract for Parcel Express Train.
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ACQUISITION
* Apollo Defence (subsidiary of Apollo Micro Systems) to acquire 100% stake in IDL Explosives for ₹107 Cr.
* BSE to sell 100% stake in BSE Institute Ltd to AV Financial Experts Network for ₹16.9 Cr.
* DCM Shriram to acquire 53% stake in DNV Global for ₹44 Cr for backward integration of Fenesta unit.
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LEGAL UPDATES
* Bliss GVS initiates arbitration against Pan Pharmaceuticals (Kenya) to recover USD 1.69 Mn.
* PB Fintech faces ₹60.31 Cr tax disallowance for FY22-23; to appeal.
* Walchandnagar Industries files HC petition after failed ₹16 Cr Aicitta Tech deal.
* Tata Tele (Maharashtra) OTSC litigation adjourned pending Supreme Court ruling.
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INSPECTION / REGULATORY
* Shilpa Biologics (Shilpa Medicare) gets EU GMP clearance with zero observations.
* Innoxel Lifesciences (Bharat Parenterals’ unit) clears USFDA inspection with only one minor observation.
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STORE LAUNCH
* Style Baazar opens new retail outlet in Koderma, Jharkhand; total store count reaches 219.
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SALES UPDATE / BUSINESS PERFORMANCE
* PNG Jewellers posts record Akshaya Tritiya sales at ₹139.5 Cr, up 35% YoY.
* Force Motors April sales up 24% YoY to 3,255 units; domestic sales rise 41.5%, exports slump 87%.
* MOIL posts best-ever April Manganese ore output at 1.62 lakh tonnes, up 1.5% YoY.
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PARTNERSHIP / COLLABORATION
* TCS partners with Jazeera Airways to implement AI-powered digital transformation strategy.
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CLARIFICATION / TERMINATION
* Bharti Airtel and Tata Group mutually end DTH merger talks (Tata Play + Bharti Telemedia).
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TAX ORDER
* Gulshan Polyols gets MP Govt benefits for Sehore ethanol project including ₹1.5/litre production subsidy.
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Q4 RESULTS
RR Kabel
Net Profit up 64% YoY at ₹129 Cr; Revenue up 26% to ₹2,217 Cr; Margins at 8.77%.
TRF
Net Profit down 44% YoY to ₹3.51 Cr; Revenue down 29% YoY; Margins at 22.2%.
Archean Chemical
Net Profit down 7% YoY at ₹53.3 Cr; Revenue up 22%; Margins at 25.54%.
CDSL
Net Profit down 23% YoY to ₹100 Cr; Revenue down 7%; Margins at 48.7%.
D-Mart
Net Profit down 2% YoY to ₹550 Cr; Revenue up 17%; Margins at 6.4%.
Netweb Technologies
Net Profit up 45% YoY to ₹42.9 Cr; Revenue up 56%; Margins at 14.4%.
Indian Bank
Net Profit up 31.6% YoY to ₹2,956 Cr; Gross NPA improves to 3.09%.
Ceinsys Tech
Net Profit up 88% YoY to ₹21.88 Cr; Revenue up 82%; Margins at 18.8%.
SBI
Net Profit down 10% YoY to ₹18,642 Cr; NII up 3% to ₹42,775 Cr.
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HOME FIRST Q4 CONCALL
GUIDANCE
Disbursement growth target for FY2026 is around 20% plus (somewhere in the 20-25% range).
About 20-25% of growth will come from new locations/branch expansion, and 75% from existing branches.
Run-off of the book is assumed to be around 17-18%. With 20-25% disbursement growth, this should enable AUM growth in the 26-30% range.
The company is fairly confident of achieving ₹20,000 crores AUM in the next two years (by FY27) and ₹35,000 crores AUM by FY30. No major hindrances are currently foreseen.
Average ticket size has been growing at about 3-4% every year and is expected to continue at 3-5%. Incremental disbursement ticket size is between ₹13-14 lakhs. The growth zone is now ₹10 lakhs to ₹25 lakhs.
The number of branches added per year is expected to increase slightly, perhaps to 30-40 branches per year, aligning with the 20-30% expansion pace.
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DAM Capital on SBI
BUY ,TP raised to Rs930 from Rs915
SBI reported a mixed quarter with steady NIMs at 3%, though NII missed estimates slightly as loan growth slowed to 12% YoY.
Strong treasury gains and other income offset higher opex driven by performance-linked incentives. Corporate, home, and auto loans supported growth.
SBI guides for 12-13% loan growth in FY26, expects to maintain 3% NIMs, and sees 11-12% earnings growth despite some potential volatility from future rate cuts.
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DAM Capital on Kotak Bank
Neutral
TP raised to Rs2180 from Rs2020; due to roll over to Mar-27 valuations
Modest qtr; some challenges ahead as well
NII came in weak; despite absorbing personal loan book from Stan C
Loan growth was slower than recent trends as bank shed loans in corporate book & de-growth in MFI & credit cards
On average; CASA was under pressure
Cut our ESP est by 3%-4% for FY26-27E on slowing loan growth; NIMs pressure & opex coming back
KMB is facing challenges similar to peers but lags on return ratios improvement mainly from a higher cost structure in medium term
Pristine asset quality and lower slippages from unsecured is encouraging
Stock provides no upside, currently and we wait opportune time to enter.
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MOIL APRIL BIZ ; MOIL records best-ever April production in FY'26
Record April production of 1.62 lakh tonnes of Manganese (Mn) ore, registering a growth of 1.5% over CPLY.
Exploratory core drilling of 11,453 meters a 58% increase over CPLY.
@beatthestreet10
FORCE MOTORS APRIL SALES ; TOTAL SALES UP 24 % TO 3,255 UNITS YOY
DOMESTIC SALES UP 41.5 % TO 3,210 UNITS YOY
EXPORTS SALES DOWN 87 % TO 45 UNITS YOY
@beatthestreet10
SPORTKING : Triggers for Margin Recovery
Co. says Demand in key markets showing signs of improvement
Cotton-Yarn Spreads have improved over the year on better demand
Demand rising from segments such as Weaving and Denim. Demand from retailers showing encouraging signs
Recent De-bottlenecking has further improved operational efficiency
Cotton prices are expected to be stable aiding efficient inventory management
Recently added further approx. 2.4 MW of solar power for captive consumption enabling savings on power cost
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