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April 09, 2025

Daily Morning Report
Date: 09.04.2025
NIFTY OUTLOOK: 22535.85 FII: -4994.24 cr DII: 3097.24 cr
As discussed yesterday, market behaviour remained on expected lines, with follow-through buying leading to a relief rally up to 22697.
A spinning top candlestick pattern on the daily chart now suggests indecision and a possibility of profit booking. If selling emerges, immediate supports are seen at 22433 and 22330. A breach below these may drag the index to 22227–22125.
On the upside, the rally may face resistance at 22741 and 22843. A breakout and sustained move above these levels could push Nifty towards 22947. An intermediate resistance may emerge near 22638 within the broader move from 22535 to 22741.
Bank Nifty OUTLOOK:
SPOT: 50511.00 PCR: 0.77 Max CE OI: 52000 Max PE OI: 50000
On 8th April 2025, the Bank Nifty index closed at 50511.00, up by 1.31% from the previous day. The total intraday movement was 762.90 points, with a high of 50793.70 and a low of 50030.80.
The previous day’s high of 50793.70 and low of 50030.80 may act as resistance and support respectively for today’s session.
Technical View on Daily Chart:
Key technical levels for Bank Nifty are 50869 as resistance and 50300 as support. If the index crosses 50869 and sustains, it may rise to 51186 followed by 51819. On the downside, if 50300 is breached, it may slide to 49600 and then 49100.
The Relative Strength Index (RSI) for Bank Nifty stands at 52.60. A reading below 30 is considered oversold, while above 70 is overbought.
Bank Nifty Day SMA Analysis
Bank Nifty is trading above 4 out of 8 SMAs (20, 30, 50, 100-day) and below 4 SMAs (5, 10, 150, 200-day).
One bullish candlestick pattern identified: Spinning Top in an uptrend.
Macros
1. Dollar index @ 102.16
2. Vix @ 52.33 (11.39 % )
3. Brent crude @ 61.02
4. US 10 years @ 4.352.
Note:
Last night, equities across US and European markets witnessed extreme volatility after President Trump signed an executive order increasing reciprocal tariffs on China to 84%, up from the 34% announced on 2nd April. This takes the total duties on China to 104%, including the existing 20% tariffs.
The US has started negotiating with nearly 50 countries—many have reduced tariffs on US goods to zero, while some, like Mexico, Canada, and China, have imposed retaliatory tariffs.
India is likely to benefit from this US-China trade war. Companies like Tata Motors may gain an edge over BYD in the EV market. Similarly, some chemical and textile firms may enjoy competitive advantages.
The trade war with China has now escalated fully. Chinese officials have indicated they will continue to retaliate, intensifying fears of a global recession. Crude has crashed nearly 4% and is nearing $60; if tensions persist, it may fall to $55–53.
Overall, global sentiment remains fearful and cautious. It is crucial to closely monitor how this unfolds between these two giants.
Contributed by
Ashok bhandari : INH000019549
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COCHIN SHIPYARD: WINS ORDER
CSL signs MOU with Drydocks World, a DP World company to enable development of Ship repair clusters, synergizing mutual strengths
TYRE STOCKS: INT. RUBBER PRICES DOWN 20 % FROM RECENT HIGHS , AT JULY 2024 LOWS
Canada says 25% counter-tariffs on some U.S. autos will start April 9 and stay until U.S. drops its tariffs on Canadian autos.
U.S MARKET DRAMATIC REVERSAL FROM DAY'S HIGH
DOW DOWN 4.6 %
NASDAQ DOWN 6.6 %
S&P 500 DOWN 5.4 %
Dubai offers Indian companies a low-tariff launchpad into emerging markets
Source: Business Standard
https://search.app/8Af5R
BIG BREAKING NEWS ???? Donald Trump has just raised tariffs on China to 104% ????????
China in COMPLETE SHOCK !!
White House officials said this this will be effective immediately at midnight.
Trump had given deadline of "12 o'clock" to China remove its tariffs.
But China vowed that it would not scrap its 34% retaliatory tariffs.
A MASSIVE LOSS expected for China
@beatthestreet10
MS on Indian IT
Q1CY25 CIO Survey Takeaways -
Expectations for IT budget growth in 2025 remained in line with the previous quarter's
Budget growth expectations edging closer towards the long-term survey average of +4.1% from 2010-2019
Growth expectations for 2025 IT Services moderated slightly
CIOs in the Business Services, Financial, and Energy industries expect the highest IT budget growth in 2025
AI and ML remain the top CIO priorities, followed by security software and digital transformation
CIO survey results highlight incremental macro challenges towards the second half of the quarter
This could have implications going into the next fiscal year for Indian IT Services providers
@beatthestreet10
Chemicals Sector (Date: 8 April 2025)
Global Headwinds Signal Caution
[1] US government tariffs are hurting the global chemical industry.
[2] Ripple effects may slow down global GDP growth.
[3] Impact expected across key sectors: automotive, construction, consumer durables, agrochemicals, and pharma.
[4] Competition in non-US markets and customer renegotiations could lead to broad-based valuation downgrades.
Industry Pulse – Subdued with Sluggish Demand
[1] Order books weak since Jan 2022; industry confidence still below pre-COVID levels.
[2] Global chemical production is trending lower.
[3] In India, volume growth is recovering slowly but faces pressure from Chinese imports, despite anti-dumping duties.
Companies with High Revenue Exposure to US Export
[1] PI Industries – ~43% revenue from the US
[2] Vinati Organics – ~20%
[3] Clean Science and Technology – ~17%
[4] Navin Fluorine – ~14%
[5] Aarti Industries – North America ~13%
[6] UPL Ltd. – North America ~16%
[7] Jubilant Ingrevia – North America ~9%
Investor Takeaways
[1] Focus on companies with strong domestic demand and diversified portfolios.
[2] Be cautious of companies with high US exposure and global competition risks.
[3] Tariff outcomes may override short-term earnings — stay agile.
@beatthestreet10
*News Headlines from Business News Agencies:*
*Business Standard*
Samsung profits surge as buyers stockpile chips ahead of Trump tariffs
Tata Motors Group global wholesales dip 3% in Q4; JLR shows mixed trend
NSE launches 11 new passive funds tracking Nifty indices in Japan, Korea
Tata Steel recognised as Steel Sustainability Champion by WorldSteel
Nearly 90% of orders in February sales fully paid, says Ola Electric
CDSL to deposit Rs 3 cr as financial disincentive for technical glitches
Cyient invests $100 mn in semiconductor business, plans more funds
Govt seeks market access for 10 agricultural products from Israel
Arkade Developers gets redevelopment project in MMR with Rs 865 cr GDV
Govt may formalise incentives for critical minerals recycling this year
Alcatel to invest $30 mn to relaunch smartphone business in India
North India is on the verge of an extreme heatwave, IMD issues yellow alert
*Economic Times*
Regulatory easing to support 10.8 pc credit growth in FY26: Icra
China boosts Indian rapeseed meal purchases after tariff on Canadian imports
India net importer of finished steel in 2024/25, data shows
DGTR recommends countervailing duty on copper wire imports
Indian Oil to invest Rs 61,000 crore to build petchem complex in Odisha
RTX's Pratt & Whitney develops additive manufacturing to reduce engine repair time
India, EU exploring possibility to negotiate FTA in phases: Official
SEA, TechnoServe ink pact to enhance edible oil fortification in India
Oyo to launch a separate app for premium hotels
Agritech startup AgroStar raises $6.7 million from Accel India
Publicis Groupe appoints Paritosh Srivastava as CEO of BBH India
Mobile phone exports surpass Rs 2 lakh cr in FY25, powered by iPhone shipments: Vaishnaw
*Mint*
Panama casts doubt on BlackRock canal ports deal touted by Trump
Aye Finance, Bluestone Jewellery and GK Energy get SEBI nod to launch IPO
EU mulls 25% tariff on some US goods, drops 50% retaliatory tariff on whiskey
Apple airlifts iPhones from India and China ahead of US tariff hike: Report
Indias building materials sector experiencing hiring boom: Report
Warburg Pincus-backed BoAt files confidential draft papers for IPO: Report
China GDP growth forecast slashed to 4.2% from 4.7% for 2025
Rupee volatility can slash earnings by 250 bps in FY26, says Crisil
Jio Financial subsidiary launches digital Loan Against Securities
NCLAT allows banks to proceed against former IL&FS directors not part of new board
China’s biotech advances threaten US dominance, warns congressional report
@beatthestreet10
MORGAN STANLEY ON INDIA STRATEGY
Analysts Expect Single-digit Decline In Profits In Aggregate
Analysts Expect Decline In Profits Due To Weak Revenue Growth & Likely Contraction In Margins
Analysts Project Earnings At A 19 Quarter Low
While Earnings Upcycle Is Intact, Emerging Uncertainties Could Weigh On Estimates
Nine Out Of 10 Sectors Are Expected To Deliver Positive Revenue Growth
Communication Services, Industrials & Healthcare Leading The Pack
Growth In Earnings Is Likely To Be Led By Health Care & Communication Services
Energy Sector Is Expected To Report A Decline In Revenue, Earnings
Breadth In Margin Expansion Set To Decline
Margins Are Expected To Decline For Eight Out Of 10 Sectors
Q4 Estimates Imply 3-Year CAGRs In Sensex & Nifty Revenues Of 8% & Net Profit Of 10%
@beatthestreet10
MOSL ON GUJARAT GAS
Maintain Buy Rating with TP of Rs 475
company’s long-term volume growth prospects remain robust, with the addition of new industrial units and expansion of existing units.
It is aggressively investing in infrastructure to push industrial gas adoption in Thane rural, Ahmedabad rural, and the newly acquired areas in Rajasthan
Tailwinds for GUJGA in the coming years:
Brent to average USD65/bbl in FY26/FY27 (earlier forecast: USD70/bbl, 4QFY25 average: USD75.8/bbl)
lower pricing slope as LNG global supply expands.
volumes to clock ~6% CAGR during FY24-FY27E
stock is trading at a P/E of 23x for FY26E and an EV/EBITDA of 12.6x for FY26E
@beatthestreet10
BOFA ON CONSUMERS
Maintains 'Buy' On ITC & Cuts Target Price To ₹465 From ₹490
Maintains 'Underperform' On Avenue Supermarts & Cuts Target Price To ₹3,805 From ₹3,580
Maintains 'Buy' On Titan & Cuts Target Price To ₹3,940 From ₹3,980
Maintains 'Neutral' On Asian Paints & Cuts Target Price To ₹2,355 From ₹2,395
Maintains 'Buy' On Varun Beverages & Cuts Target Price To ₹630 From ₹690
Maintains 'Buy' On United Spirits & Cuts Target Price To ₹1,585 From ₹1,620
Maintains 'Buy' On Dabur & Cuts Target Price To ₹510 From ₹575
Maintains 'Buy' On Colgate & Cuts Target Price To ₹2,615 From ₹2,930
Maintains 'Underperform' On Sapphire Foods & Cuts Target Price To ₹290 From ₹320
Likely To Witness Trends Similar To Last Quarter
Estimate 9% Average Organic Revenue, 7% Reported EBITDA Growth (YoY)
Do Not See A Major Change In Trends For Individual Companies
Within Staples, Pricing Growth Is Improving, But Lower Than We Had Initially Forecast
This Coupled With Cost Push Impacts Margin
All Staples Names Excluding Alcobevs Are Likely To See EBITDA Margin Contract (YoY)
Those With Double-Digit Topline Momentum Are Varun Beverages, Marico, United Spirits & Tata Consumer
Discretionary Growth Is Relatively Better Than Staples
@beatthestreet10
Investec on MFIs
Current cycle appears to be approaching its conclusion, with AQ indicators showing improvement across various MFIs
Among top performers in this cycle are CA Grameen, Ujjivan SFB & L&T Fin (Not Rated)
Unlike previous cycles, this was triggered by internal factors
@beatthestreet10
INDIA
India a growth powerhouse in a tariff torn world: CEO, Ontario Pension Fund
IPHONE EXPORTS FROM INDIA TOUCHED INR1.5T IN FY25: VAISHNAW
GOYAL: AIM TO HIT $100M IN NON OIL TRADE WITH DUBAI UNDER CEPA
@beatthestreet10
JEFFERIES ON I.T. SECTOR
Downgrades TCS To 'Hold' & Cuts Target Price To ₹3,300 From ₹4,530
Maintains 'Buy' On Infosys & Cuts Target Price To ₹1,700 From ₹1,835
Maintains 'Buy' On Coforge & Cuts Target Price To ₹7,860 From ₹10,350
Maintains 'Buy' On Sagility & Cuts Target Price To ₹48 From ₹64
Maintains 'Hold' On HCLTech & Cuts Target Price To ₹3,300 From ₹4,530
Rising Demand Concerns To Limit Upside
Higher Uncertainty & Potential Worsening Of Business Outlook
Cut EPS Estimates By 2-14% To Factor Higher Uncertainty
Unless Outlook For US GDP Growth Improves, IT Stocks Are Unlikely To Rerate
Prefer Stocks With Higher Growth Visibility, Limited De-Rating Risks
Infosys, Coforge & Sagility Top Picks
@beatthestreet10
If IPL teams come in the listed markets they will ALWAYS command premium valuations it seems…
-Recession Proof
-Global Appeal because of Indian diaspora and other cricketing nations
-Very little competition for domestic leagues
-Basket, Football, Rugby, Other Teams Across Regions are scattered and distributed
-PE, VC love this model
-HNIs and Retail always show high interest in CSK (unlisted) and conglomerates
-Listed companies are contemplating value unlocking moves
-IP right and growth is very strong
-Loyalty may also result in stock ownership as well
-Sports economy gets organised can see more value added services and even chances of legalised betting may increase
@beatthestreet10
-ve For Metals
White House confirmed a cumulative 104% tariff rate will be implemented on Chinese goods overnight
OFFSHORE YUAN FALLS TO WEAKEST ON RECORD AS TRADE WAR ESCALATES
@beatthestreet10
CLSA On Indraprastha Gas
The proposed changes to the Delhi EV policy do not appear to have a material impact
No impact on IGL's existing volumes or the volume growth visibility over the next few years
We believe the sharp negative reaction in the stock price following the news today appears unwarranted
@beatthestreet10
RBI MONETARY POLICY TODAY AT 10 AM... ANALYST EXPECTS 25 BPS RATE CUT
@beatthestreet10
SENCO GOLD FY25 REVENUE UP 19.4 % V 20 % REVENUE GUIDANCE
NOTE ; MANAGEMENT UPGRADED REVENUE GUIDANCE TO 20 % GROWTH V 15-20 % GROWTH
@beatthestreet10
TRANSFORMER & RECTIFIER Q4 CONCALL
Secured a landmark order of 740 crores from Jetco, the largest single order in the company's history
Completed dynamic short circuit testing of 500 MBA 400 KV
Acquired a controlling stake in a CRG processing unit, achieving 100% backward integration in a critical raw material
Capacity expansion plans are underway, including 15,000 MBA expansion started in April 2024 and expected to be operational by May 2025
An additional capacity expansion of 22,000 MBA at EHV transformers is expected to be completed by February 2026
@beatthestreet10
MGL ; MMR, Mumbai CNG, PNG price hiked
CNG price hiked by Rs 1.5 to 79.50 per kg
PNG prices up by Rs 1 per kg to 49 per kg
This is due to an increase in APM prices by $0.25/mmbtu to $6.75/mmbtu and also factoring in the rupee depreciation
@beatthestreet10
SHYAM METALICS; Co. expects improved performance ahead with capacity expansions and higher domestic demand supporting margins
@beatthestreet10
China has bought 52,000 tons of Indian rapeseed meal in the past three weeks - four times the amount Beijing imported from India in the whole of 2024 - after Chinese authorities imposed a 100% retaliatory tariff on Canadian imports, industry sources said.
@beatthestreet10
NMDC ; MOST ACTIVE DALIAN IRON ORE CONTRACT FALLS AS MUCH AS 5.6% TO 670.5 YUAN/METRIC TON, LOWEST SINCE SEPTEMBER 24, 2024.
@beatthestreet10
TRANSFORMER & RECTIFIER Management Says FY26 Revenue Guidance Is At ₹3,500 Cr V Fy25 Revenue Of 1950 Cr ( UP 80 % YOY)
Will Have Total Order Book Of ₹8,000 Cr By FY26-end
We Are Limiting Ourselves Το 10% Exports
We Have Taken Efforts To Reduce Working Capital Days
@beatthestreet10
VEDANTA: Vedanta may cut its demerger to four units after NCLT blocked the power arm TSPL’s separation over creditor concerns.- ET
The plan, initially six-way then five, seeks to simplify structure and boost shareholder value.
@beatthestreet10
NIFTY TO OPEN 86 PTS GAP DOWN OPENING
@beatthestreet10
PHARMA STOCKS DOWN ON TRUMP'S TARRIFS FEAR
@beatthestreet10
IT STOCKS IN FOCUS, TCS Q4 RESULT TOMORROW
@beatthestreet10
JP MORGAN Says Recession fears in stocks acutely tied to America’s economy have spiked to nearly 80%
@beatthestreet10
Trump mocked world leaders seeking trade deals, saying, "These countries are calling us up, kissing my a**"
@beatthestreet10
BROADER MARKET STOCKS EXTENDS FALL
@beatthestreet10
IT STOCKS FALLS AHEAD TCS Q4 RESULT, IT INDEX DOWN 2 %
@beatthestreet10
NIFTY DOWN 160 PTS , BELOW 22,400
@beatthestreet10
U.S. President Donald Trump's 'reciprocal' tariffs on numerous countries have gone into effect.
INSOLATION ENERGY; Insolation Energy Ltd. reported provisional consolidated revenue of ₹1,338 crores for FY 2024–25, up over 80% from ₹741.32 crores the previous year.
Dispatches rose 81% year-on-year.
The company anticipates stronger revenue and profitability in FY 2025–26, driven by a 3GW capacity expansion through its subsidiary, with 2GW starting in Q1 and 1GW in Q2, raising total capacity to 4GW.
HINDALCO; BofA downgrades its rating on Alcoa
Downgraded to Underperform from Buy; Cut Target Price by 55% BofA now very cautious on aluminum and alumina prices
Alcoa is a US based aluminium producer similar to Novelis
Novelis contributes 54% to Hindalco's EBITDA
U.S. treasury yields jump sharply as tariffs take effect, U.s 10 yr Yield At 4.5 %
AARTI IND ;March 2025 exports at Rs 380 crore,Excluding MMA from the base, Exports grew 19% QoQ and 11% YoY in Q4FY25- Ndtv PROFIT
RELIANCE RECOVERED 1 %
AARTI IND ;March 2025 exports at Rs 380 crore,Excluding MMA from the base, Exports grew 19% QoQ and 11% YoY in Q4FY25- Ndtv PROFIT
Prestige Estates; Prestige Group Launches 14 Mn sft Across Key Markets in Q4 with Total GDV of Rs 161,338 Mn; Projects Receive Resounding Customer Response
DOW FUTURES AT DAY'S LOW , DOWN 800 PTS
NIKKEI DOWN 4% , AT DAY'S LOW
RBI GUV SPEECH STARTED
RBI CUTS INTEREST RATES BY 25 BPS V EST 25 BPS CUT .. 2ND STRAIGHT CUT
RBI Governor says emerging trade frictions are unsettling the global community and the global outlook is rapidly changing.
New Repo Rate is now at 6%
MPC UNANIMOUSLY VOTED TO CUT REPO RATE BY 25 BPS TO 6%
MPC Noted That Inflation Is Below The Target ; RBI
RBI’s Monetary Policy Committee announces #RepoRate cut by 25 bps. New Repo Rate is now at 6%
GARDEN REACH; Garden Reach Shipbuilders & Engineers Ltd. received a Letter of Award from the Geological Survey of India on April 8, 2025, for designing, constructing, and delivering two coastal research vessels worth ₹489.98 crore, to be completed in 36 months.
RBI says global trade frictions and higher tariffs are hurting net exports and dampening both global and domestic growth outlook.
RBI : India is very proactively engaging with US administration on trade
RBI CUTS FY26 GDP ESTIMATES TO 6.5 % FROM 7 % EARLIER
CORRECTION; RBI CUTS FY26 GDP ESTIMATES TO 6.5 % FROM 6.7 % EARLIER
CPI inflation in FY26 projected at 4%
Q1 seen at 3.6%, Q2 at 3.9%, Q3 at 3.8% and Q4 at 4.4%
RBI FY26 GDP ESTIMATES
Q1 at 6.5, Q2 at 6.7, Q3 at 6.6 and Q4 at 6.3
RBI Says Govt Spending picked pace in March
Rbi Chief: Cpi Inflation Seen At 3.9% In Q2 Of Fy26
Rbi Governor: Cad To Stay Well Within Sustainable Level
Rbi Governor: Net Services And Remittances Expected To Remain In Large Surplus, Partly Offset Trade Deficit
Rbi Chief: Gross Foreign Direct Investment Remains Strong Between April 2024 To Jan 2025
RBI GOVERNOR SAYS
• MPC Noted That Inflation Is Below The Target
• RBI Changes Monetary Policy Stance To 'Accommodative' From 'Neutral'
• Evolving Situation Needs Monitoring Of Economic Outlook
• Policy Stance Should Not Be Linked With Liquidity Conditions
• Current account deficit for last year as well as FY26 expected to be well within sustainable levels
• Gross FDI remains strong
• Net FDI moderated sharply due to higher repatriation and outward FDI
• External commercial borrowings witnessed higher inflows compared with last year
Sanjay Malhotra Governor, RBI
RBI Governor says We remain committed to ensuring sufficient system liquidity and will take necessary measures while closely monitoring market conditions.
HOUSING STOCKS ; RBI Governor Says co-lending guidelines will now apply to all regulated entities and loan types.
NBFC STOCKS ; RBI Governor Says co-lending guidelines will now apply to all regulated entities and loan types.
HUDCO : Govt allows HUDCO to issue Capital Gains bonds under 54EC like PFC, NHAI
MANAPPURAM , MUTHOOT, CSB , FEDERAL BANK; RBI Governor says comprehensive regulations will be introduced for loans secured by gold as collater
PRIME FOCUS ; Co. got In-Principle Approval Received From BSE Limited For Migration Of The Company From SME Board Of BSE Limited To The Mainboard Of BSE Limited
RBI Says Our Stance Provides Policy Rate Guidance Without Any Direct Guidance On Liquidity Mgmt
Agriculture Sector Prospects Remains Bright In FY26
Borosil Limited : Co. incorporated a wholly owned subsidiary named Stylenest India Limited on April 8, 2025.
The new entity, based in Mumbai, will focus on manufacturing, marketing, and distributing household and kitchenware products.
NIFTY BANK TRADES LOWER AFTER RBI POLICY

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