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By EquityPandit

MARKETS

Glenmark Pharma Shares Up 5% After December Quarter Earnings

Shares of Glenmark Pharma rose over 5% to hit an intraday high of Rs 421 in an otherwise sluggish market.

Shares of Glenmark Pharma surged more than 5% to a high of Rs 421 in an otherwise subdued market after the drugmaker reported stable earnings for the quarter that ended in December 2022.

Glenmark reported a 21.1% rise in consolidated net revenue at Rs 290.76 crore in the third quarter of FY22, compared to Rs 240 crore in the same period last year. Net sales rose 8% year-on-year to Rs 3,392.24 crore.

In Q3, revenue from Asia, MEA, LATAM and RCIS (RoW) regions was Rs 654.1 crore compared to Rs 534.8 crore in the preceding quarter. India Formulations business posted sales of Rs 1,074.5 crore against Rs 1,006.9 crore.

The stock was up 5% at Rs 420 at around 35,000 shares on the BSE at 9:50 am, compared with a two-week average of about 25,000 shares. In contrast, the S&P BSE Sensex fell 0.2% (150 points) to 60,522.

The stock rose more than 9% in February, compared with a 1.6% gain for the Sensex.

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MARKETS

Maruti Suzuki Shares Slip 2% on Weak Q4 Earnings 

Ali Waghbakriwala

Shares of Maruti Suzuki Ltd were trading in the red and 2% lower on Friday, 25 April, after the company announced its quarterly earnings for January-March. 

The automobile company reported a 4.3% year-on-year (YoY) decline in net profit to Rs 3,711 crore for the quarter under review compared to Rs 3,879 crore reported in the same quarter of the previous fiscal year. 

However, Maruti Suzuki’s operating revenue increased by 6.4% to Rs 40,674 crore in the March quarter, up from Rs 38,235 crore the previous year.

On the operating front, the earnings before interest, tax, depreciation, and amortisation (EBITDA) fell 9% year on year to Rs 4,264 crore from Rs 4,685 crore the year before. The EBITDA margin contracted by 150 basis points to 10.5% in Q4 FY25 from 12.3% in Q4 FY24.

The largest four-wheeler manufacturer in India has also announced a final dividend of Rs 135 per share for the fiscal year 2024–2025.

During the fiscal year, the manufacturer also achieved its biggest yearly total sales and exports to date.  “The company continued to be the top exporter for the 4th consecutive year, now contributing nearly 43% of total passenger vehicle exports from India,” it said in an exchange filing. The company sold 604,635 units in Q4, the most in any quarter.

The company’s domestic sales increased by 2.8%, while exports increased by 8.1%, for an overall gain of 3.5%.  Meanwhile, the automaker’s domestic sales were 519,546 units, with 85,089 units exported.

Maruti Suzuki reported that domestic market growth was fairly subdued in FY25.  “For the Company, a modest domestic sales growth of 2.7% was compensated by a healthy 17.5% export growth leading to an aggregate growth of 4.6% for the year,” it added.

At 3:30 pm, the shares of Maruti Suzuki closed 2.05% lower at Rs 11,650 on NSE.

Wondering About Maruti Suzuki Ltd? The Analyst Has Answers.

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MARKETS

Mahindra & Mahindra and Tata Motors Shares Slump as China Halts Supply 

Ali Waghbakriwala

Shares of Tata Motors Ltd and Mahindra & Mahindra Ltd lost early gains on Friday, 25 April, after China had halted supplying rare earth magnets to India.

According to industry sources, the migration from China is causing manufacturing issues for Indian EVs and component makers. As a result of this decision, vehicle and component makers have asked the government for assistance.

According to sources, China has restricted the supply of rare earth magnets to India since 4 April and is now requesting end-user certifications before releasing any officially authorized rare earth magnet shipments.

The neighbouring country has also specified that importers must obtain end-user certificates signed by both India’s foreign ministry and the Chinese consulate. Importers must also affirm that the rare earth magnets will not be utilized to manufacture weapons or distributed to third parties.

Rare earth magnets play an important role in traction motors and other components of electric vehicles and cars.

At the conclusion of the third quarter, Tata Motors had seen a 23% increase in EV registrations, owing to new offerings that fueled growth.

At 12:51 pm, the shares of Tata Motors were trading 1.62% lower at Rs 657.50, and shares of Mahindra & Mahindra were trading 1.33% lower at RS 2,862.90 on NSE.

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MARKETS

Patel Engineering Shares Soar 5% on Bagging Rs 2,036 Crore Projects 

Ali Waghbakriwala

Shares of Patel Engineering Ltd soared 5% on 25 April after the company announced that they have emerged as the lowest bidder (L1) for projects valued at Rs 2,036.89 crore.

NEEPCO has designated a Mumbai-based infrastructure business as L1 for a Rs 718 crore (including tax) contract for the 240 megawatt (MW) HEO Hydroelectric Project in Arunachal Pradesh.

The project, which is estimated to generate 1,000 million units (MU) of electricity per year, intends to boost the state’s power supply while also contributing to national grid balancing.

The project is located in Arunachal Pradesh’s Shi Yomi district and is expected to be completed within 44 months.

The scope of work for the 240 MW HEO Hydropower project includes civil and related infrastructure construction, hydro-mechanical equipment testing and commissioning, and ensuring that all generating units operate and perform properly.

In addition, the company was designated the lowest bidder for CIDCO’s Rs 1,318.89 crore contract for the “construction of Kondhane Dam and its allied works” using Roller Compacted Concrete Technology. The project is located in the state of Maharashtra, Village – Kondhane, Taluka – Karjat, District – Raigad, and will be completed in 42 months.

The scope of work comprises civil works for the dam’s construction, which measures 1209m in length and 83m in height, as well as hydro-mechanical and electrical work, such as three radial gates, electrical and manual gate control, and other electrification work.

At 11:44 am, the shares of Patel Engineering were trading 0.09% higher at Rs 44.47 on NSE.

Curious About Patel Engineering Ltd? Ask the Analyst.

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MARKETS

Stocks in Focus: RITES, Wipro, Container Corporation of India, and Others

Ali Waghbakriwala

The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 0.65% higher by 126 points at 24,529, indicating that the domestic benchmark indices are likely to make a positive start on Friday.

On Thursday, 24 April, Domestic benchmark indices S&P BSE Sensex slumped by 315.06 points or 0.39% and settled at 79,801.43 while the Nifty50 traded 0.34% lower by 82.25 points, settling at 24,246.70.

Here are some stocks that are likely to remain in focus on 25 April.

Quarterly Results Today: Reliance Industries, Maruti Suzuki India, L&T Finance, Cholamandalam Investment and Finance, RBL Bank, Tata Technologies, DCB Bank, Force Motors, Dr Lal PathLabs, Lloyds Metals and Energy, Hindustan Zinc, Chennai Petroleum Corporation, Bank of Maharashtra, Mahindra Lifespace Developers, Poonawalla Fincorp, Rossari Biotech, Shriram Finance, Motilal Oswal Financial Services, Oracle Financial Services Software, Tejas Networks, Zensar Technologies are some of the prominent companies set to announce their quarterly earnings for January-March. 

RITES: The company announced securing an order worth Rs 28 crore from Mahanadi Coalfields Ltd for designing and managing a railway project linked to Phase-II SILO at MCL’s Lakhanpur area.

Wipro: The company has announced the launching of the GitHub Center for Excellence in Bengaluru, which will help developers and clients build AI-powered solutions faster. 

Container Corporation of India: The company has announced that it is inking a Memorandum of Understanding (MoU) with Gail India to develop LNG infrastructure at various company terminals to provide an uninterrupted supply of LNG fuel for its road transportation requirements.

Bharat Heavy Electricals: The company has announced a fire incident on a garbage heap at its unit in Bhopal. The company stated that the fire was contained within the plantation area and there was no damage to any machinery, plant, or property. 

PB Fintech: The company announced its first investment in its subsidiary, PB Healthcare Services, for a total consideration of Rs 539 crore. The Board of Directors of the company has approved a total investment of Rs 696 crore in its subsidiary via the subscription or purchase of equity shares during the fiscal year 2026.

Tech Mahindra: In its quarterly earnings for January-March, the company reported a 76.5% year-on-year increase to Rs 1,167 crore for the quarter under review due to the expansion of margins and the effective tax rate coming down due to -one-off benefit. 

Power Grid Corporation of India: The company’s subsidiary, POWERGRID Energy Services announced the commercial operation of an 85 megawatts (MW) solar PV power plant in Ujjain, Madhya Pradesh.

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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, 25 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 open interest for F&O contracts of RBL Bank declined below the 80% limit. Hence, it was removed from the list on Friday

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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