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EquityPandit

EquityPandit
MARKETS

Abrdn Sells 1.6% Stake, Exits HDFC Life Insurance

HDFC Life shares rose 3% after Abrdn made the big deal.

On May 31, about 3.6 crore shares, or a 1.6% stake, of HDFC Life Insurance changed hands during the block trade window. While it is unclear who the buyer will be, earlier reports suggested that Abrdn (formerly Standard Life) may sell all its shares and exit the company.

The private insurer is offering shares at Rs 563-585, according to terms obtained by Bloomberg. The stock opened higher after the deal was quoted at Rs 590.05, with more than 32 lakh shares traded at 9:30 am.

Notably, shares of HDFC Life jumped 15% after the Reserve Bank of India (RBI) on April 21 allowed HDFC Bank or HDFC Ltd to increase its stake in HDFC Life to more than 50%. HDFC Ltd holds a 48.65% stake in HDFC Life as of March 2023.

The stock suffered aftershocks from the union’s budget proposals to tax policy gains on premiums above Rs 5 lakh and introduce a new tax regime that scrapped almost all exemptions.

Analysts say the company is now investing in developing lower-priced policies to offset a slowdown in higher-priced non-par business.

For the fourth quarter, HDFC Life reported a nearly flat net profit of Rs 359 crore compared to Rs 357 crore last year, despite a 36% rise in net premiums to Rs 19,426 crore. The company has an EV of Rs 39,527 crore as on March 31, 2023, with an operating ROE of 19.7% for FY23.

The stock currently has 24 buy calls, 3 hold calls and 4 sell calls. The stock has a 12-month consensus target of Rs 638, representing an 8% upside from current levels.

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MARKETS

Mazagon Dock Shares Slump 7% on Government’s OFS 

Ali Waghbakriwala

Shares of Mazagon Dock Shipbuilders Ltd dropped more than 6% on Friday, 4 April, following the government’s announcement of an offer to sell a 4.83% stake in the state-run defence company. 

According to a stock market announcement, the Indian government would sell up to 11.39 million equity shares, or 2.83% of its holding, to non-retail investors on 4 April and to employees and retail investors on 7 April. By exercising the oversubscription option, the state-run firm can sell an extra 8.06 million shares, or 2% of the total, increasing the stake sale to 4.83%. 

At the end of the December quarter, the government-owned 84.83% of the company, according to BSE figures. 

Furthermore, 50,000 equity shares, or 0.26%stake, may be offered to eligible personnel in accordance with the terms and conditions outlined in the OFS guidelines, subject to permission from the appropriate government, the defence business stated. The offer-for-sale floor price is Rs 2,525 per share, representing a 7.7% decrease from Thursday’s closing price. 

Mazagon Dock’s stock dropped as high as 7.14% to Rs 2,542 per share, the most intraday loss since 18 February this year. 

In the previous fiscal year, Mazagon Dock was the best-performing firm, increasing by an incredible 189.2%, while the Nifty50 had a 5.7% gain. 

The company’s primary activity is building and repairing ships, submarines, and other types of watercraft for its customers. It also manufactures related engineering products.

Mazagon Dock’s consolidated net profit for the third quarter (Q3) of the fiscal year 2024-25 (FY25) increased by 30% to Rs 768.22 crore from Rs 591.54 crore in the same period the previous year.  

At 1:52 pm, the shares of Mazagon Dock were trading 6.74% lower at Rs 2,553.15 on NSE.

Ask the analyst & get instant answer about Mazagon Dock Shipbuilders Ltd.

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MARKETS

Pharma Stocks Crash on Trump’s Tariffs Remark 

Ali Waghbakriwala

It won’t be over until it is.  According to US President Donald Trump, his administration is considering potential pharmaceutical levies. “The pharma is going to be starting to come in at, I think, a level that you haven’t really seen before,” President Trump said, speaking to reporters aboard Air Force One.

Following this update at 11:15 a.m., pharmaceutical stocks fell precipitously, with the Nifty Pharma index being the biggest sectoral loser. Companies like IPCA Labs, Lupin, and Aurobindo Pharma saw a more than 6% decline, while the index fell more than 4.5%

Trump added, “We are looking at pharma as a separate category — we will be announcing that sometime in the near-future, not in the distant future.”

Prior to this, White House Press Secretary Karoline Leavitt, who has been with President Donald Trump since 20 January 2025, made a suggestion about bringing pharmaceutical production back to the United States. “We have outsourced our critical supplies chains in our countries. Do we want out life saving drugs and medicine and chips to be made in China or here in the United States of America? This is a common sense policy,” said Leavitt.

Domestic pharmaceutical players breathed a sigh of relief in trade on 3 April, while the other sectors faced significant selling pressure after the White House excluded pharmaceuticals from the reciprocal tariffs imposed by US President Donald Trump.

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Trump revealed his tariff plan for several US trading partners on 2 April, often known as “Liberation Day,” which included a “discounted” broad-based charge of 26% on India. This amounts to half of the 52% claimed by India against the United States, which includes currency manipulation and trade barriers.

On ‘Liberation Day,’ which took place on 2 April, Trump unveiled his tariff proposal for a number of US trading partners, which included a “discounted” broad-based levy of 26% on India. This represents half of India’s 52% accusation against the United States, which includes trade barriers and currency manipulation.

According to a White House fact sheet, all pharmaceutical imports to the United States were protected from reciprocal duties. “Some goods will not be subject to the Reciprocal Tariff. These include copper, pharmaceuticals, semiconductors, and lumber articles,” said the document.

India’s pharmaceutical exports to the United States were primarily generic formulations, making drug access more expensive for American residents. As a result, they indicated that taxes on this sector were unlikely. However, with this update, pharmaceutical stocks may face significant levies.

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MARKETS

Nuvoco Vistas Secures Approval from NCLT to Acquire Vadraj Cement; Shares Gain 

Ali Waghbakriwala

Shares of Nuvoco Vistas Corporation Ltd were trading in the green and 1% higher on 4 April after the company announced receiving approval from the Mumbai Bench of the National Company Law Tribunal (NCLT) for its resolution plan to purchase Vadraj Cement for Rs 1,800 crore under the Insolvency and Bankruptcy Code, making it the fifth largest cement group in India.

The deal will be completed via Nuvoco’s wholly-owned subsidiary, Vanya Corporation, which will eventually merge with VCL. After the merger, the business will wholly own VCL as a subsidiary. Nuvoco Vistas is a cement and other building supply firm owned by the Nirma Group.

The company received a letter in January 2025 stating that it intended to buy Gujarat-based Vadraj Cement (VCL) under insolvency proceedings. Prior to the acquisition, Nuvoco had said it planned to invest Rs 1800 crore, with additional investments to come.

The approval order, dated 1 April 2025, was published on the NCLT website on 3 April 2025.

After the acquisition, Nuvoco will rank as the fifth-largest cement company with a combined capacity of roughly 31 MMTPA; by Q3FY27, cement capacity will reach 31 MTPA, and clinker capacity will reach 17 MTPA.  

This acquisition will put Nuvoco Vistas in third place in Gujarat and Maharashtra in terms of capacity and expand its footprint in Western India.

Nuvoco has described the acquisition as a “valuable buy” with substantial growth potential at a very competitive price of roughly $60 per tonne, which is lower than the recent high acquisition costs seen in the market. “By acquiring Vadraj Cement, the Company is poised to reach 31 million tonnes per annum (MPTA) cement capacity by Q3FY27,” Nuvoco had said in January 2025.

Nuvoco plans to invest an additional Rs 900–1,200 crore in Vadraj over the next 18 to 24 months. Originally established as Lafarge India in 1999, the company rebranded itself as Nuvoco Vistas after being purchased by the Nirma Group in 2016.

However, at 1:06 pm, the shares of Nuvoco Vistas were trading 1.71% lower at Rs 313.60 on NSE.

Wondering About Nuvoco Vistas Corporation Ltd? The Analyst Has Answers.

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MARKETS

Dee Development Shares Rally 4% on Receiving Rs 55 Crore Order 

Ali Waghbakriwala

Shares of Dee Development Engineers Ltd rallied 4% on 4 April after the company announced securing an order worth Rs 55 crore. 

In its regulatory filing, the company said, “We would like to inform you that the company has bagged a purchase order from a new customer, the name of which cannot be disclosed due to commercial issue.”

The scope of the order entails supplying pre-fabricated carbon, alloy and stainless-steel piping items for a thermal power station, which has to be executed in a period of 7-12 months. 

Dee Development Engineers made a stellar entry into the stock market on 26 June 2024, with its shares listing at Rs 339 on the National Stock Exchange (NSE), which is a notable 67% jump over the issue price of Rs 203.

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Established in 1988, the company is a specialised engineering firm offering end-to-end process piping solutions to sectors like oil and gas, power (including nuclear), chemicals, and other process industries. Its services span engineering, procurement, and manufacturing.

Dee Development Engineers produces and delivers a wide array of piping products, including high-pressure piping systems, piping spools, high-frequency induction pipe bends, longitudinally submerged arc welding pipes, industrial fittings, pressure vessels, stacks, modular skids, and custom-built components like boiler superheater coils and de-superheaters.

At 11:37 pm, the shares of Dee Development shed all their early gains and were trading 0.83% lower at Rs 253.05 on NSE.

Curious About Dee Development Engineers Ltd? Ask the Analyst.

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MARKETS

Stocks Under F&O Ban: 

Ali Waghbakriwala

Under the futures and options (F&O) segment, no stocks were banned from trade on Friday, 4 April, by the National Stock Exchange (NSE). 

Derivative contracts of these stocks were banned as the open market interest for these securities has crossed 95% of the market-wide position limit (MWPL) set by the exchanges. The MWPL is the maximum number of contracts that can be opened at any particular time.

The ban will be lifted once the position falls below 80%. Traders will get penalised for buying or selling these securities. They will be available for trading in the cash market. 

The National Stock Exchange updates the list of securities on the F&O ban list daily. This list serves as a guide for traders and investors in the market. Traders who trade in indices do not encounter a situation of security ban.

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