Stock Market Today: All You Need To Know Going Into Trade On April 11
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Good morning!
The GIFT Nifty futures slipped 213.50 points, or 0.92%, to 23,033.50 at 6:25 a.m. on Friday, signalling a gap-down start for Indian equities.
A sharp escalation in the US-China trade war has sent shockwaves through global financial markets, following Washington's confirmation of a steep 145% levy on all Chinese goods entering the country. Asian markets bore the brunt of the initial reaction, opening sharply lower on Friday. Japan's Nikkei 225 was down 5.38% at 32,746.49, while South Korea's KOSPI declined 1.97% to 2,397.
On Wall Street, a steep intraday plunge in the S&P 500 took the index dangerously close to triggering circuit breakers. Although equities pared back some of the losses later in the session, the S&P 500 still closed well below its intraday high at 3.46% down.
The index is now down more than 7% since former President Donald Trump announced sweeping tariffs on multiple trading partners on April 2. The Dow Jones and the Nasdaq composite also closed 2.50% and 4.31% lower respectively.
India's benchmark equity indices snapped its one day of advance to end in the red on Wednesday after the RBI's 25 basis points rate cut failed to enthuse investors reeling under Trump tariffs.
The NSE Nifty 50 ended 136.70 points or 0.61% lower at 22,399.15, while the BSE Sensex closed 379.93 points or 0.51% down at 73,847.15.
Foreign portfolio investors remained net sellers for the eighth straight session, offloading Rs 4,358 crore worth of shares, according to the provisional data from the NSE. Domestic institutional investors remained net buyers for the third day as they bought equities worth Rs 2,976.7 crore.
Earnings Post Market Hours
TCS Q4 FY25 Results (Consolidated, QoQ)
Revenue at Rs 64,479 crore versus Rs 63,973 crore, up 0.79%.
EBIT at Rs 15,601 crore versus Rs 15,657 crore, down 0.36%.
Margin at 24.19% versus 24.47%, down 27 bps.
Net profit at Rs 12,224 crore versus Rs 12,380 crore, down 1.26%.
Total contract value in the March quarter at $12.2 billion.
Total contract value for FY25 at $39.4 billion.
Last 12 months IT services attrition at 13.3%.
Final dividend of Rs 30 per share for the financial year ending March 2025.
Anand Rathi Q4 Highlights (YoY)
Total Income up 22.5% at Rs 232 crore versus Rs 189 crore.
Net profit up 30.5% at Rs 72.4 crore versus Rs 55.5 crore.
Final dividend of Rs 7 per share.
Stocks To Watch
Tata Steel: The Netherlands unit announced a transformation programme to enhance its competitiveness that will involve shedding 1,600 management and support function jobs.
Infosys: The company extended its partnership with the AIB for digital transformation.
Sanofi India: Rodolfo Hrosz resigned as MD effective April 30. Rodolfo Hrosz is to move to another role within Sanofi Group.
TARC: The company achieves its highest-ever annual sales of Rs 3,722 crore and Rs 1,235 crore in sales in the March quarter. The collections for FY25 stood at Rs 484 crore, of which Rs 113 crore was collected in Q4.
NBCC: The company successfully sold 1,185 residential units at Noida through an e-auction at a total sale value of approximately Rs 1,504.69 crore.
BHEL: The company signed an MoU with Nuovo Pignone International for compressor revamp opportunities in the fertiliser sector.
Coromandel International: The company signed an MoU with Saudi mining company Ma’aden to partner for phosphatic fertilisers.
Orchid Pharma: The company settled a rental lease dispute in Tamil Nadu with DBS Bank.
Avenue Supermarts: DMart opened a new store in Surat, taking the total number of stores to 416.
Greaves Cotton: The company partnered with Chara Technologies to drive sustainable mobility with rare-earth-free motor tech.
PDS: The company signed an agreement with subsidiary Aapt Outsourcing Solutions to divest of its entire stake in Digital Ecom Techno. Following the completion of the share transfer, Digital Ecom will no longer be considered an associate of the company.
Rites: The company signed an MoU with DP World for logistics infrastructure development.
Bank of India: The bank cut its repo-based lending rate by 25 bps to 8.85% from 9.10%.
Indian Bank: The bank reduced its repo-based lending rate by 25 bps to 6% from 6.25% and repo-linked benchmark lending rate by 25 bps to 8.70% from 9.05%.
JSW Energy: The company's subsidiary JSW Neo Energy completed the acquisition of a 4.7 GW renewable energy platform from O2 Power at an enterprise valuation of Rs 12,468 crore.
Olectra Greentech: The company received an order of Rs 424 crore to supply 297 electric buses.
Ratnamani Metals: The company entered into a joint venture with Saudi Electric Supply Company to provide critical tubing solutions to consumers in the country.
Welspun Corp: The company will further sell a 10% stake in Nauyaan Shipyard to Reliance Industries' step-down subsidiary Nauyaan Tradings for Rs 51.7 crore.
SRF: The company commissioned its Dahej unit for Rs 239 crore to produce agrochemical intermediates.
Adani Energy Solutions: The company expanded its transmission network by 140 circuit kilometers in the March quarter, bringing the total transmission network to 26,696 Ckm. Furthermore, the company's under-construction order book saw significant growth, increasing to Rs 59,936 crore from Rs 17,000 crore at the start of the year.
Deepak Nitrite: The company will set up a manufacturing complex for Rs 3,500 crore to produce phenol, acetone and others in Gujarat.
Cyient DLM: The company expanded its partnership with Deutsche Aircraft for an advanced cabin management system.
Jindal Stainless: Arm JSL Super Steel signed an 11MWp long-term power purchase pact with Sunsure Energy to help displace 40% of conventional energy consumed by the company's Ghaziabad unit.
Biocon: Arm Biocon Biologics received USFDA approval for Jobevne, a biosimilar used to treat different types of cancer.
Sun Pharma: The company is no longer under a New Jersey, US court order that delays or restricts launch of LEQSELVI. It will disclose launch plans in due course of time.
GAIL: The company finished laying over 97.6 % of Pradhan Mantri Urja Ganga and started commercial operations in 96.6% of completed pipeline, transporting 12.26 MMSCMD of natural gas.
Block Deals
Northern Arc Capital: Ashish Dhawan bought 35 lakh shares (2.16%) at Rs 173.9 apiece, whereas 360 One Special Opportunities Fund - Series 3 sold 20.73 lakh shares (1.28%), Dvara Trust sold 8.35 lakh shares (0.51%), 360 One Special Opportunities Fund - Series 2 sold 5.9 lakh shares (0.36%) at Rs 173.9 apiece.
Trading Tweaks
Price Band changes from 20% to 10%: Pearl Global Industries
Ex-dividend: Crisil, Ashiana Housing.
Price Band changes from 20% to 5%: Kabra Extrusion Technik, Indo Farm Equipment,
List of securities shortlisted in Short-Term ASM Framework Stage 1: Valor Estate, TARC.
List of securities to be excluded from ASM Framework: Jeena Sikho Lifecare
F&O Cues
Nifty April Futures down by 0.56% to 22,479 at a premium of 80 points.
Nifty April futures open interest down by 2%.
Nifty Options April 17 Expiry: Maximum Call open interest at 25,400 and maximum Put open interest at 20,400.
Put-Call ratio at 1.05, with the highest change in Put open interest at 22,400.
Securities in a ban period: Birla Soft, Hindustan Copper, Manappuram Finance, and National Aluminium.
Currency Market Update
The rupee weakened, tracking global risk aversion and domestic policy cues. Investors digested the RBI's rate decision while also bracing for heightened global trade tensions.
The rupee fell 45 paise to close at 86.70 against the US dollar, compared to 86.25 in the previous session.
