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Informist, Monday, May 26, 2025

By Akash Mandal

MUMBAI – Benchmark indices continued their upward journey and the Nifty 50 regained 25000 points amid broad-based buying. Sentiment remains positive in the near term on expectations of a rate cut by the Reserve Bank of India in the coming weeks and positive economic data, including softer-than-expected inflation print for April, analysts said.

The Nifty 50 ended at 25001.15 points, up 148 points or 0.6%. Heavyweights such as Reliance Industries, Infosys, ICICI Bank, and Larsen & Toubro ended around 1% higher each. Only 10 stocks ended lower in the Nifty 50. Eternal plummeted nearly 5% on expected outflows of around $840 million from the stock after global index providers MSCI and FTSE reduced their respective weightages on the stock, media reports said. The BSE Sensex closed 455.37 points or 0.6% higher at 82176.45 points.

Automobile and information technology stocks were among the top gainers. The Nifty Auto index ended among the top gainers in sectoral indices. It has risen 303 points in the past two sessions, recouping the sharp 240-point decline made on Thursday. Bajaj Auto, Mahindra & Mahindra, and Tata Motors ended 1-3% higher Monday. Balkrishna Industries closed over 6% lower after its bottom line for the March quarter missed the Street's view. Many brokerages were also cautious on the stock due to the company's entry into niche segments such as passenger car and truck and bus radial tyres. The company had also said it would partly pass on the increased costs due to US tariffs to customers.

The Nifty Metal ended nearly 1% higher with Hindustan Copper, JSW Steel, and Hindalco Industries gaining around 2% each. Shares of JSW Steel gained after the Supreme Court ordered status quo on the proceedings in the National Company Law Tribunal to liquidate Bhushan Power & Steel. Many defence stocks also ended in the green, pushing the Nifty India Defence over 1% higher. BEML soared over 15% after its bottom line for the March quarter rose 12% on year.

Broader market indces also gained. The Nifty Midcap 100 was the top gainer, ending around 1% higher, and the Nifty Smallcap 50 saw the least gains among the indices, ending slightly higher.

Many stocks reacted to their March quarter earnings. GE Vernova T&D India hit a 10% upper circuit at the start and trading of the stock was halted for the session. The company's net profit for the March quarter soared threefold on year. Many brokerages were bullish on the stock with Nuvama Institutional Equities saying "OIs (order intake) shall keep rising for four–five years (led by INR 9.2 trillion T&D capex over 2022–32) while high exports mix and pricing will keep margins elevated." 

Shares of Gillette India ended over 7% higher at INR 9,389 after its net profit for the reporting quarter rose 60% on year. The stock, which traded around 1% higher before its earnings, surged nearly 13% to its highest level since Jan. 9 after the announcement. The stock has risen in 10 of the past 11 sessions, rising 20%, and it is currently 14% down from its lifetime high of INR 10,699 touched in November. Two brokerage reports on the company available with Informist have a 'buy' or equivalent rating on the stock with an average target price of INR 9,592.50. 

Shares of Emcure Pharmaceuticals rose for the fouth straight day and ended over 9% higher Monday. The pharma major, which had reported strong earnings for the March quarter during market hours Thursday, has gained nearly 31% post its results. Finolex Industries ended 7% higher as the bottom line was sharply higher than estimates despite falling on year. Analysts are bullish on the company's earnings due to a pickup in government spending, lower input costs, and decent volume growth in Jan-Mar.

Gujarat Narmada Valley Fertilizers & Chemicals rose nearly 8% after its bottom line for the reporting quarter jumped 65% on year. The stock gave up some gains to eventually settle over 6% higher. Shares of JK Cement soared as high as 10% after its bottom line for the March quarter beat analysts' view. The stock eventually ended 2% higher.

Some stocks also fell after announcing their quarterly earnings. Glenmark Pharma, which had fallen nearly 4% intraday, made up some ground but still ended 2% lower after its consolidated net profit for the quarter ended March was significantly below the analysts' estimates owing to a one-time cost of INR 3.73 billion. HBL Engineering ended nearly 4% lower after its consolidated net profit for the quarter nearly halved on year. This was due to lower-than-expected sales of the train protection system, Kavach.

* Of the Nifty 50 stocks, 28 rose, 10 fell, and 2 were unchanged 

* Of the Sensex stocks, 23 rose and 7 fell

* On the NSE, 1,735 stocks rose, 1,173 fell, and 74 were unchanged

* On the BSE, 2,304 stocks rose, 1,766 fell, and 197 were unchanged

* Nifty India Defence: up 1.2%; Nifty Auto: up 1.1%; Nifty Private Bank: up 0.1%

BSE                                               NSE

Sensex: 82176.45, up 455.37 points or 0.6%        Nifty 50: 25001.15, up 148 points or 0.6%

End

Edited by Saji George Titus

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