Good morning!The GIFT Nifty was trading 0.18% higher at 24,758 as of 06:48 a.m., signaling a positive start to Indian markets today.Asian stocks declined for the first time in five sessions on Thursday as the rally on Wall Street show a muted close amid US-China trade talks showing signs of exhaustion.Japan's Topix index extended its decline after a 13-day winning streak, with a similar marginal dip observed in Australian equities. US stock index futures showed little movement after a muted day of trade on Wednesday.Markets Back HomeThe benchmark equity indices ended the day with gains on Wednesday's trading session. The NSE Nifty 50 ended 0.36% higher at 24,666.90 and Sensex closed 0.22% up at 81,330.56.Overseas investors turned net buyers of Indian equities on Wednesday after a day of selling. Foreign portfolio investors mopped up equities worth Rs 931.8 crore, according to provisional data from the National Stock Exchange.Domestic institutional investors remained net buyers for the fourth session as they bought equities worth Rs 316.3 crore, according to the data.Key Events/Data To WatchThe government is set to release the trade deficit data for April on Thursday.Here's what could influence Indian equities today:Global Market Moves (As Of 6:54 AM)S&P 500 futures were down 0.2%.Australia's S&P/ASX 200 fell 0.2%.Euro Stoxx 50 futures fell 0.2%.Topix was down 0.6%.Commodity UpdatesWest Texas Intermediate crude declined 1.4% to $62.24 per barrel.Spot gold rose 0.2% to $3,184.38 an ounce.London Metal ExchangeCopper rose 0.07%, marking a fourth straight session of gains.Nickel rose 0.86%, extending gains for second session.Aluminium rose 1.55%, extending its five-day winning streak.Zinc added 2.22%, continuing an upward trend. Lead rose 0.38%, extending its gaining streak.US Market UpdatesWall Street saw a muted close on Wednesday with most sectors seeing a decline while big tech climbed. Boeing Co. rose after it received its largest-ever deal with Qatar Airways placing an order or long-range jets during a visit to Doha by US President Donald Trump.The S&P 500 rose just 0.1%. The Nasdaq 100 climbed 0.6%. The Dow Jones Industrial Average lost 0.2%.Earnings In FocusAbbott India, Allied Blenders and Distillers, Alivus Life Sciences, Arvind, Balrampur Chini Mills, Bombay Burmah Trading Corporation, Bikaji Foods International, BLS International Services, Caplin Point Laboratories, CESC, Cochin Shipyard, Crompton Greaves Consumer Electricals, Datamatics Global Services, Endurance Technologies, Garware Technical Fibres, Gujarat Mineral Development Corporation, Godfrey Phillips India, G R Infraprojects, INOX India, JSW Energy, Kaynes Technology India, Kennametal India -$, LIC Housing Finance, LT Foods, Global Health, Medi Assist Healthcare Services, NCC, Neuland Laboratories, NOCIL, Page Industries, Patanjali Foods, PDS, P N Gadgil Jewellers, PB Fintech, Pricol, Prism Johnson, Saregama India, Signatureglobal (India),  SKF India, Solara Active Pharma Sciences, South Indian Bank, Steel Strips Wheels, Tega Industries, Thangamayil Jewellery, Tube Investments of India, Vinati Organics, Vishnu Chemicals, Websol Energy System, Welspun Enterprises, ZF Commercial Vehicle Control Systems India.Earnings Post Market HoursEicher Motors Q4 FY25 Highlight (Consolidated, YoY)Revenue up 23.1% to Rs 5,241 crore versus Rs 4,256 crore (Bloomberg estimate: Rs 5,160 crore).Ebitda up 11.4% to Rs1,257.7 crore versus Rs 1,128.64 crore (Bloomberg estimate: Rs 1,303 crore).Margin at 24% versus 26.5% (Bloomberg estimate: 25.3%).Net Profit up 27.3% to Rs 1,362.15 crore versus Rs 1,070.45 crore (Bloomberg estimate: Rs 1,252 crore).Recommended final dividend of Rs 70 per equity share for FY25.Tata Power Q4 FY25 Highlight (Consolidated, YoY)Revenue up 7.9% to Rs 17,096 crore versus Rs 15,846.6 crore (Bloomberg estimate: Rs 17,094 crore).Ebitdaup 39.2% to Rs 3,245.6 crore versus Rs 2,332 crore (Bloomberg estimate: Rs 3,094 crore).Margin at 19% versus 14.7% (Bloomberg estimate: 18.1%).Net Profit up 16.5% to Rs 1,043 crore versus Rs 895 crore (Bloomberg estimate: Rs 1,026 crore).Kirloskar Oil Engines Q4 FY25 Results Highlights (Consolidated, YoY)Revenue up 5.6% at Rs 1,753 crore versus Rs 1,660 crore.Ebitda up 3.4% at Rs 313 crore versus Rs 303 crore.Margin at 17.9% versus 18.3%.Net Profit down 11.8% at Rs 131 crore versus Rs 149 crore.Eclerx Services Q4 FY25 Results Highlights (Consolidated, QoQ)Revenue up 5.2% at Rs 898 crore versus Rs 854 crore.EBIT up 3.4% at Rs 178 crore versus Rs 172 crore.Margin at 19.8% versus 20.1%.Net Profit up 11% at Rs 152 crore versus Rs 137 crore.Brigade Enterprises Q4 FY25 Highlights (Consolidated, YoY)Revenue down 14% to Rs 1,460 crore versus Rs 1,702 crore.Ebitda down 3.8% to Rs 416 crore versus Rs 433 crore.Margin expands to 28.5% versus 25.4%.Net profit up 19.8% to Rs 247 crore versus Rs 206 crore.Baazar Style Q4 FY25 Results Highlights (Consolidated, YoY)Revenue up 54.5% at Rs 345 crore versus Rs 223 crore.EBITDA up 69.3% at Rs 40 crore versus Rs 23.6 crore.Margin at 11.6% versus 10.5%.Net loss Rs 6.4 crore.Le Travenues Q4 FY25 Results Highlights (Consolidated, QoQ)Revenue up 17.6% at Rs 284 crore versus Rs 242 crore.Ebitda up 16.1% at Rs 24.73 crore versus Rs 21.3 crore.Margin at 8.7% versus 8.8%.Net Profit up 7.7% at Rs 16.7 crore versus Rs 15.5 crore.Torrent Power Q4 FY25 Highlight (Consolidated, YoY)Revenue down 1.1% to Rs 6,456.3 crore versus Rs 6,528.6 crore (Bloomberg estimate: Rs 6,540 crore).Ebitda up 2% to Rs 1,130.79 crore versus Rs 1,109.09 crore (Bloomberg estimate: Rs 1,169 crore).Margin at 17.5% versus 17% (Bloomberg estimate: 18%).Net Profit up 146.5% to Rs 1,060 crore versus Rs 430 crore (Bloomberg estimate: Rs 474 crore).Muthoot Finance Q4 FY25 Earnings Highlights (Standalone, YoY)Net Profit up 42.7% at Rs 1,508 crore versus Rs 1,056 crore.NII up 36.01% at Rs 2,904 crore versus Rs 2,135 crore.GNPA at 3.41% versus 4.22% (QoQ).Total Income up 43% at Rs 4,889 crore versus Rs 3,418 crore.Hitachi Energy Q4 FY25 Results Highlights (YoY)Revenue up 11% at Rs 1,884 crore versus Rs 1,695 crore.Ebitda up 30.8% at Rs 238 crore versus Rs 182 crore.Margin at 12.6% versus 10.7%.Net Profit up 61.8% at Rs 184 crore versus Rs 114 crore.Hitachi Energy order book rose 55.7% to Rs 2,190.8 crore in Q4.Shree Renuka Sugar Q4 FY25 Results Highlights (Consolidated, YoY)Revenue down 21.66% at Rs 2713 crore versus Rs 3463 crore.Ebitda down 8.87% at Rs 314.3 crore versus Rs 344.9 crore.Ebitda margin up 162 bps at 11.58% versus 9.95%.Net profit at Rs 91.6 crore versus loss of Rs 112 crore.Other Income aided PAT, other Income at 61.3 crore vs 10 crore.Deferred tax credit of 15.8 crore vs tax expense of 67 crore.Tilaknagar Industries Q4 FY25 Results Highlights (Consolidated, YoY)Revenue up 14.3% at Rs 881 crore versus Rs 770 crore.Ebitda up 63% at Rs 78.4 crore versus Rs 48.2 crore.Margin at 8.9% versus 6.2%.Net Profit up at Rs 77.3 crore versus Rs 31.4 crore.Sheela Foam Q4 FY25 Results Highlights (Consolidated, YoY)Revenue up 0.5% at Rs 850 crore versus Rs 845 crore.Ebitda down 59% at Rs 33 crore versus Rs 80.5 crore.Margin at 3.9% versus 9.5%.Net profit down 66.7% at Rs 21.5 crore versus Rs 64.6 crore.ADF Foods Q4 FY25 Results Highlights (Consolidated, YoY)Revenue up 3.5% at Rs 159 crore versus Rs 153.6 crore.Ebitda down 28% at Rs 25 crore versus Rs 34 crore.Margin at 15.5% versus 22.3%.Net Profit down 36% at Rs 16.4 Cr versus Rs 26 crore.Karnataka Bank Q4 FY25 Results Highlights (YoY)Net Profit down 8% at Rs 252 crore versus Rs 274 crore.Net NPA at 1.31% versus 1.39% (QoQ).Gross NPA at 3.08% versus 3.11% (QoQ).Net interest income down 6% at Rs 781 crore versus Rs 834 crore.Operating Profit down 25% at Rs 375 crore versus Rs 500 crore.Provisions down 83% at Rs 31 crore versus Rs 185 crore.Provisions down 63% at Rs 31 crore versus Rs 84 crore (QoQ).Indian Hume Pipes Q4 FY25 Results Highlights (YoY)Revenue down 3% at Rs 395 crore versus Rs 407 crore.Ebitda down 23% at Rs 59 crore versus Rs 77 crore.Margin at 15% versus 18.9%.Net profit at Rs 499 crore versus Rs 44 crore.LMW Q4 FY25 Results Highlights (Consolidated, YoY)Revenue down 17.2% at Rs 804 crore versus Rs 971 crore.Ebitda down 21% at Rs 58 crore versus Rs 73.5 crore.Margin at 7.2% versus 7.6%.Net Profit down 27.6% at Rs 47.8 crore versus Rs 66 crore.Transport Corp India FY25 Results Highlights (Consolidated, YoY)Revenue up 9.3% at Rs 1,179 crore versus Rs 1,079 crore.Ebitda up 11.2% at Rs 122 crore versus Rs 109 crore.Margin at 10.3% versus 10.1%.Net Profit up 11.9% at Rs 114 crore versus Rs 102 crore.Akzo Nobel India Q4 FY25 Results Highlights (Consolidated, YoY)Revenue up 9.1% to Rs 1,022.00 crore versus Rs 937.00 crore.Ebitda up 32.5% to Rs 139.70 crore versus Rs 105.40 crore.Margin at 13.7% versus 11.2%.Net Profit down 0.3% to Rs 108.40 crore versus Rs 108.70 crore.AGI Greenpac Q4 FY25 Results Highlights (YoY)Revenue up 13.3% at Rs 704.8 crore versus Rs 622.3 crore.Ebitda up 5.8% at Rs 154.2 crore versus Rs 145.7 crore.Margin at 21.9% versus 23.4%.Net profit up 40% at Rs 96.6 crore versus Rs 64.6 crore.Apollo Tyres Q4 Earnings (Consolidated, YoY)Revenue up 2.6% at Rs 6,424 crore versus Rs 6,258 crore.Ebitda down 18.5% at Rs 837 crore versus Rs 1,028 croreMargin at 13% versus 16.4%Net Profit down 47.9% at Rs 185 crore versus Rs 354 croreOne-Time Loss of Rs 119 Cr in Q4.Piramal Pharma Q4 Earnings (Consolidated, YoY)Revenue up 7.9% at Rs 2,754 crore versus Rs 2,552 crore.Ebitda up 5.9% at Rs 561 crore versus Rs 530 crore.Margin at 20.4% versus 20.8%.Net profit up 51.6% at Rs 153 crore versus Rs 101 crore.Dollar Industries Q4 Earnings (Consolidated, YoY)Revenue up 9.8% at Rs 549 crore versus Rs 500 crore.EBITDA down 1% at Rs 56.5 crore versus Rs 57.2 crore.Margin at 10.3% Vs 11.4%.Net Profit down 11.6% at Rs 29.2 crore versus Rs 33.1 crore.To Pay Final Dividend of Rs 3 per share.JB Chemicals And Pharma Q4 FY25 Results Highlights (Consolidated, YoY)Revenue up 10% at Rs 949 crore versus Rs 862 crore (Bloomberg estimate: Rs 939 crore).Ebitda up 14% at Rs 226 crore versus Rs 198 crore (Bloomberg estimate: Rs 227 crore).Margin at 23.8% versus 23% (Bloomberg estimate: 24.2%).Net Profit up 15.5% at Rs 146 crore versus Rs 126 crore (Bloomberg estimate: Rs 142 crore).Jubilant FoodWorks Q4 FY25 Results Highlight (Consolidated, YoY)Revenue up 33.6% to Rs 2,103 crore versus Rs 1,574 crore (Bloomberg estimate: Rs 1,933 crore).Ebitda up 24.7% to Rs 389 crore versus Rs 312 crore (Bloomberg estimate: Rs 339 crore).Margin at 18.5% versus 19.8% (Bloomberg estimate: 17.5%).Net Profit down 76.9% to Rs 48 crore versus Rs 207.5 crore (Bloomberg estimate: Rs 38.5 crore).The company had an exceptions gain of Rs 170 crore in Q4 FY24.Sagility India Q4 FY25 Results Highlights (Consolidated, YoY)Revenue up 22% to Rs 1,568 crore versus Rs 1,283 crore.Ebitda up 21.5% to Rs 373 crore versus Rs 307 crore.Margin at 23.8% versus 23.9%.Net profit up 127.7% to Rs 182.6 crore versus Rs 80.2 crore.Lupin Q4 FY25 Results Highlights (Consolidated, YoY)Revenue up 14.2% to Rs 5,667 crore versus Rs 4,961 crore. (Bloomberg estimate: Rs 5,564 crore).Ebitda up 32.5% to Rs 1,321 crore versus Rs 997 crore.Margin at 23.3% versus 20%.Net profit up 114.9% to Rs 772 crore versus Rs 359 crore. (Bloomberg estimate: Rs 735 crore).Eicher Motors Q4 Results: Revenue, Net Profit Rise By A Fourth, Margin ShrinksStocks In NewsWipro: The company has partnered with Hachette UK to support its digital transformation through the implementation of SAP.Brigade Enterprises: The company has acquired a prime land parcel of 5.41 acres in Chennai with a gross development value estimated at Rs 1,600 crore. The transaction value of the acquisition is Rs 441.70 crore.Kirloskar Brothers: The company has appointed Bhavesh Chheda as the chief financial officer and re-appointed Sanjay Kirloskar as the managing director.Precision Wires India: The board will meet on May 17 to consider raising of funds through qualified institutional placements or other means.BASF India: The board has endorsed a scheme of arrangement between BASF Agricultural Solutions and the company.Poonawalla Fincorp: The company has approved the issue of NCDs of up to Rs 750 crore through private placement basis.Infosys: The company finalised the sale of its stake in the Infosys-led joint venture, HIPUS Japan, to Mitsubishi Heavy Industries on May 14, 2025.HUL: The company has obtained approval from BSE and NSE for its demerger from Kwality Wall's.Yes Bank: In its investor presentation, the company stated that SMBC has the right to nominate two board members to the bank's board.Lloyds Metals and Energy: CCI has approved the demerger of Thriveni Earthmovers' mining development and operations business into Thriveni Earthmovers and Infra, along with the company's subscription to shares in Thriveni Earthmovers and Infra.Angel One: The company has approved the transfer of its securities broking business to arm Angel Securities.Samhi Hotels: The company's board has approved investing Rs 125 crore in Ascent Hotels through rights issue.Indian Renewable Energy Development Agency: A bankruptcy plea has been filed against Gensol Engineering over a Rs 510 crore default. Meanwhile, the government has extended Pradip Kumar Das's tenure as chairman and managing director until June 30.Wendt (India): Wendt GmbH, the promoter, intends to sell up to a 37.5% stake through an offer for sale, including a 7.5% green shoe option. The OFS will be available to non-retail investors on May 15 and retail investors on May 16. The floor price has been set at Rs 6,500 per share, with a total offer size of Rs 487.5 crore.Allcargo Logistics: The board has appointed Ravi Jakhar as the chief financial officer effective from May 19. Deepal Shah resigned as the chief financial officer effective from May 16.State Bank of India: The bank will consider long term fund raising of up to $3 billion on May 20.Genesys International Corp: The company opened its QIP issue on Wednesday. The floor price for the issue has been approved at Rs 665.60 per share.Cochin Shipyard: The company is exploring partnerships with various entities as part of the government's initiative to promote shipbuilding and ship repair. It has also issued an alert to clarify reports regarding a potential joint venture with HD Hyundai.Poonawalla Fincorp To Raise Rs 750 Crore Through NCDsBlock dealMax Healthcare: Citigroup Global Markets Mauritius Pvt bought 2.58 lakh shares (0.02%) at Rs 1,172 apiece, while Morgan Stanley Asia Singapore Pte sold 2.58 lakh shares (0.02%) at Rs 1,172 apiece.Info Edge (India): Citigroup Global Markets Mauritius Pvt bought 2.12 lakh shares (0.16%) at Rs 1,464.5 apiece, while Morgan Stanley Asia Singapore Pte sold 2.12 lakh shares (0.16%) at Rs 1,464.5 apiece.Navin Fluorine International: SBI Mutual Fund bought 2.1 lakh shares (0.42%) at Rs 4,287 apiece, Vishad Padmanabh Mafatlal sold 2.1 lakh shares (0.42%) at Rs 4,287 apiece.Waaree Energies: Citigroup Global Markets Mauritius bought 60,398 shares (0.02%) at Rs 2,690 apiece, while Morgan Stanley Asia Singapore sold 60,398 shares (0.02%) at Rs 2,690 apiece.Bulk dealsEdelweiss Fin Serv: CLSA Global Markets Pte. Ltd-Odi sold 1.13 crore shares (1.19%) at Rs 88.55 apiece, while the Miri Strategic Emerging Markets Fund Lp bought 110.58 lakh shares (1.17%) at Rs 88.55 apiece.Trading TweaksPrice Band change from 20% to 10%: Dynamic Cables.List of securities to be excluded from ASM Framework: Aarti Drugs, Birla Corp., IFGL Refractories, Mayur Uniquoters, Suven Life Sciences.List of securities to be included from ASM Framework: Balaji Telefilms, Kalyani Forge.Ex-record dividend: Manappuram Finance, BEML, the Great Eastern Shipping Co.F&O CuesNifty May Futures up by 0.36% to 24,728 at a premium of 62 points.Nifty May futures open interest down by 5%.Nifty Options May 15 Expiry: Maximum call open interest at 25,000 and maximum put open interest at 24,000.Put-Call ratio at 0.65, with highest change in put open interest at 25,000.Securities in ban period: CDSL, Manappuram Finance, Hindustan Copper. Currency UpdateThe Indian rupee ended higher for third session in a row against the US dollar on Wednesday, following a series of positive developments in global trade landscape and domestic matters. The domestic unit settled seven paise stronger at 85.28 against the greenback.Trade Setup For May 15: Nifty Faces Resistance Close To 25,000