Equity benchmarks extended gains on April 23, with the Sensex closing at 80,001.99, up 406.40 points (0.51%), while the Nifty settled at 24,282.35, rising 115.10 points (0.48%). Strong buying in IT and auto stocks supported the rally
Indian stock market made a strong opening on Wednesday, extending their winning streak for seven sessions in a row. Sensex crossed 80,250 levels, while Nifty 50 neared 24,360 tone. Bank Nifty climbed over 150 points. Nifty IT index skyrocketed the most with gains of nearly 4%, making it best performer. All sectoral indices were higher.
In the early trade, Gift Nifty recorded more than 200 points jump and traded around 24,375 levels. Stocks like HCL Tech will be in focus after its Q4 results.
Meanwhile, companies like LTIMindtree, Bajaj Housing Finance, Indian Hotels, Indian Bank, Tata Consumer, Rallis India, and Tips Music will be in focus for its upcoming Q4 results on April 23.
Yesterday, Indian market closed in green, backed by continued buying interest and supportive RBI policy. Nifty ended higher by 42 points at 24,167 level (+0.2%), extending gains for the sixth straight session amid subdued sentiment in Asian markets and overnight losses in US equities, said Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services.
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Apr 23, 2025, 3:23 pm IST
Rajesh Power Services Limited Secures New Order Of Rs. 1,116 Cr
Rajesh Power Services Limited (RPSL), one of the leading EPC Contractor in Power Transmission & Distribution has secured new orders inflows worth Rs.1,116 Crores from a combination of government and institutional customers.
Apr 23, 2025, 3:20 pm IST
PVP Ventures Limited acquires a majority stake in Optimus Oncology Pvt. Ltd.
PVP Ventures Ltd executed binding agreements to acquire 56% stake in Optimus Oncology Pvt Ltd. with a clear roadmap to increase the stake to 76% over the next few years subject to achievement of certain milestones. With this acquisition, PVP has made a significant stride in its earlier announced plans to build a Technology centric global Healthcare Services platform focussing on Illness, Wellness and Care. The transaction shall be a combination of both primary and secondary stake purchase amounting to an initial outlay of circa INR 55 Crores for an initial shareholding of 56%. The subsequent investments are subject to achievement of certain financial milestones over the next few years.
Apr 23, 2025, 2:28 pm IST
SPL Acquires a Premium Land Parcel in Yelahanka, North Bengaluru
hriram Properties Limited (“SPL”), a leading mid-market and mid-premium focused residential real estate developer, has announced acquisition of a prime ~5 acre land parcel nestled in Yelahanka, North Bengaluru. SPL plans to develop a premium residential complex with row houses / villas on this project land over the next three years. With gross development value (GDV) of ₹ 200 - 250 crores, the Company is targeting to launch the project during H2-FY26. Situated in one of North Bengaluru’s most coveted micro-markets, this project is poised to become a landmark development. The vicinity is enriched with esteemed educational institutions, including international schools and renowned colleges, catering to families seeking quality education for their children. Moreover, the area is witnessing rapid infrastructural advancements which are set to enhance accessibility and drive economic growth. These factors collectively position the project as an attractive proposition for discerning homebuyers looking for a harmonious blend of convenience, connectivity, and community living.
Apr 23, 2025, 1:53 pm IST
Sector Update: Utilities & Power Equipment | 10 POWER points; A weekly roundup on power & utilities
“IMD warns of heat waves in parts of north and central India this week. Central Electricity Authority (CEA) estimates peak power demand to touch 273 GW in Apr’25. Below is the weekly roundup on utilities/Power/RE for 13 – 20 Apr’25 comprising 10 key sector events during the week,” said Sudhanshu Bansal of JM Financial Institutional Securities.
Apr 23, 2025, 1:26 pm IST
AU Small Finance Bank – Poised to deliver historical high RoA levels (Buy, TP: Rs772)
“AUBANK’s results exceeded our expectations, driven by strong cost control and a sequential improvement of over 600bps in provision coverage. Looking ahead, we expect AUBANK to deliver robust book value growth of 18% CAGR over FY25–FY27E, alongside an attractive return profile with RoA expected to reach 1.85% by FY27. Our positive outlook is supported by multiple factors: (1) Merger synergies: The integration of Fincare is already translating into tangible benefits, as reflected in the disciplined growth of operating expenses; (2) Cross-sell potential: Management has articulated a clear long-term strategy to leverage cross-selling opportunities arising from the merger; (3) Asset quality improvement: The pressure from the unsecured portfolio is easing, with early signs of a recovery in the MFI cycle (turnaround expected from 2QFY26) and the CGFMU cover providing a buffer against future MFI-related credit costs. Moreover, the scaling down of the credit card portfolio has further reduced asset quality risks. We reiterate our BUY rating on AUBANK with a revised target price of Rs772 (earlier Rs748),” stated Centrum Broking in a note.
Apr 23, 2025, 12:57 pm IST
Havells India – Lloyd and cables drive healthy growth and margin (Add, TP: Rs1,845)
“Havells India’s (HAVL) sales grew 20% YoY to Rs65.3bn, broadly on expected lines. Key segments driving growth were Lloyd (+40% YoY on favorable base), Cables (+21% YoY), ECD (+9% YoY) while growth was lower in switchgears (+6% YoY) and Lighting (flat YoY). Gross margin fell 70bps YoY/230bps QoQ to 32.1% due to elevated commodity costs. EBITDA grew 20% YoY to Rs7.6bn while EBITDA margin at 11.6% but was above our/consensus estimate of 11%/10.7%. PAT grew 16% YoY to Rs5.2bn (CentE Rs4.9bn). HAVL expects operating leverage to play out and aim to return to 13-14% margin. However, there could be near term growth concerns due to weak secondary sales of cooling products in March-April due to delayed summer (especially in South region) while high inflation may dent demand of real estate product categories. We marginally cut our FY26E-27E EPS by ~3-4%. We downgrade our rating on the stock to ADD (from BUY earlier) with a revised target price of Rs1,845 (Rs1,925 earlier) based on unchanged P/E of 50x FY27E EPS,” said Centrum Broking.
Apr 23, 2025, 12:26 pm IST
SBI General Insurance In Focus
One of the top general insurance providers in India, SBI General Insurance, celebrated its 15th year in operation today by announcing its FY25 financial results. The company recorded a Gross Written Premium (GWP) of Rs 14,140 crores, representing an 11.1% YoY rise, continuing its strong growth trend. Compared to the industry growth rate of 6.2%, SBI General Insurance has grown 70% quicker. At Rs 509 crores, profit after tax (PAT) showed a robust 112% annual rise. The company's outstanding financial stability was demonstrated by its solvency ratio, which was 2.03, which was far higher than the regulatory threshold of 1.50.
Apr 23, 2025, 12:00 pm IST
Stock Market Live Updates: Aurobindo Pharma, Eugia pharma Gets US FDA Approval
Aurobindo Pharma announced that its subsidiary, Eugia Pharma Specialities Ltd, has received final approval from the US Food & Drug Administration (USFDA) to produce and sell Dasatinib Tablets in various strengths: 20 mg, 50 mg, 70 mg, 80 mg, 100 mg, and 140 mg.
The stock price rose by 0.83% on the NSE, reaching Rs 1,197.50.
Apr 23, 2025, 11:09 am IST
Stock Market Live Update: Waaree Energies Shares Surge 9% After Q4 Profits Rise
Waaree Energies shares rose 9% after the company reported a 34% increase in profit for the fourth quarter. On Wednesday, the stock hit an intraday high of Rs 2,841. The company’s net profit for the quarter ending March 31, 2025, stood at Rs 618.9 crore, up 34.1% compared to the same period last year.
Apr 23, 2025, 10:23 am IST
Stock Market Live Updates: Tech Stocks Lead Market Moving Chart
Tech stocks are driving the market in the first trading hour on Wednesday, with HCLTech leading the charge, surging by 7.14%. It is followed by Tech Mahindra at 4.20%, Infosys up by 3.34%, and TCS advancing by 2.14%. M&M also joined the upward rally, gaining 2.37%.
Apr 23, 2025, 9:34 am IST
Market Live Updates: Sensex, Nifty In Strong Gains
Sensex and Nifty witnessed a strong opening on Wednesday, extending their winning streak for seven consecutive sessions now. The 30-scrip benchmark touched its intraday high of 80,254.55, while Nifty 50 clocked an intraday high of 24,359.30. Broad-based buying was recorded across sectoral indices, with IT stocks driving the performance. Check latest price of Sensex and Nifty.
Apr 23, 2025, 9:26 am IST
Forex Market Live Update: Rupee Opening Bell
In the opening deals, rupee traded at around 85.2 per dollar at the interbank forex market. The rupee comes at a time when dollar eased to around 99 levels, after surging by over 1% yesterday. Hopes of de-escalation in US-China trade and easing concerns related to US Federal Reserve's chief Jerome Powell's position, is influencing currencies globally.
Apr 23, 2025, 9:21 am IST
Market Live Updates: Crude Oil Volatile
Rahul Kalantri, VP Commodities, Mehta Equities: Crude oil prices showed very high volatility and rebound again amid decline in the U.S. oil stocks and recovery in the U.S. equity markets. As per the U.S. API data, crude oil inventories in the U.S. decline by 4.6 million barrels last week again expected decline of 0.8 million barrels. The U.S. President’s statement as no plan to fire Fed Chairman gives booster to the U.S. equity markets and supported crude oil prices. However, demand worries due to lower global growth outlook of IMF could limit gains of crude oil. The dollar index also recovered from 3-year lows and could also limit gains of crude oil. We expect crude oil prices to remain volatile in today’s session. Crude oil is having support at .30-62.80and resistance is at .50-65.20 in today’s session. In INR crude oil has support at Rs5,385-5,310 while resistance at Rs 5,540-5,610
Apr 23, 2025, 9:12 am IST
Stock Market Live: Q4 Earnings To Watch Out
LTIMindtree, Tataconsum, Bajaj housing, Dalbharat, Syngene, Canfinhome, and Rallis are big Q4 earnings to watch today.
Apr 23, 2025, 9:11 am IST
Market Live Updates: Big Events Today
Key economic data like US API/ EIA crude oil stock change, Japan/ India/ EA/ UK/ US manufacturing PMI flash, US new home sales/ Fed beige book --- are scheduled to be released on April 23.
Apr 23, 2025, 9:11 am IST
Market Live Updates: US And European Shares
U.S. stocks bounced back on Tuesday, driven by a series of quarterly earnings reports and signs of easing U.S.-China trade tensions, which attracted buyers. European markets also turned positive on Tuesday, recovering from earlier losses after ECB President Christine Lagarde's statement that disinflation process in Euro are was almost complete, as per Geojit.
Apr 23, 2025, 9:11 am IST
Stocks Live Updates: Asian Shares Surge
As per Geojit, Asia-Pacific markets surged on Wednesday, following gains in all three major Wall Street indices overnight, fueled by optimism over a potential easing of U.S.-China trade tensions. Indian markets are poised to extend their winning streak to a seventh consecutive day on April 23, buoyed by positive global sentiment.
Apr 23, 2025, 9:07 am IST
Share Market Live: Which Stocks To Trend?
Prashanth Tapse, Senior VP (Research), Mehta Equities: In yesterday's trade, Nifty continued its winning streak with a sixth consecutive day of gains, closing in the green. Optimism prevails this Wednesday morning, highlighting a call to capitalize on current market conditions. While speculation surrounds US President Donald Trump's influence on Federal Reserve policies, Nifty's technical outlook remains robust above its 200-DMA at 24,051. The next target for Nifty is pegged at 24,858, with immediate supports at psychological levels of 24,000 and its 100-DMA at 23,397. Positive catalysts include India's potential gains amidst US-China trade tensions, as highlighted by recent FII investments totaling ₹1,290 crore.Bullish on DLF (CMP 685), Oberoi Realty, UPL, M&M, and Voltas on early intraday weakness with an interweek view; DLF a top buy with targets 707/741/827, stop at 651, supported by bullish momentum and breakout on daily charts.
Apr 23, 2025, 9:04 am IST
Market Live Updates: IMF Cuts India GDP Growth Forecast
The International Monetary Fund (IMF) has trimmed its forecast for India's GDP growth to 6.2% for FY26, down by 3 basis points from its earlier prediction of 6.5%. The IMF cited global uncertainties and trade tensions as key reasons behind the prediction; however, it still found India's growth outlook to be relatively stable compared to other economies. Noteworthy, the current GDP prediction of the IMF is lower than RBI's estimates for the financial year 2025-26.
Apr 23, 2025, 8:27 am IST
Stock Market Live: Sensex Technical Outlook For April 23
Prabhudas Lilladher: Sensex witnessed a decent pullback to close above the 79500 zone, and further ahead, a decisive breach above the important hurdle of the 80100 level shall establish conviction, and thereafter, we can anticipate a further rise in the coming days with targets of 82500 and 83000 levels achievable. The zone around the 50 EMA level at 76300 would be the important support, and for the short term, the 78700 level needs to be sustained as of now to maintain the overall bias intact.
Apr 23, 2025, 8:26 am IST
Market Live Updates: Nifty Technical Outlook For April 23
Prabhudas Lilladher: Nifty, after the strong run witnessed in the last 2 weeks, finally halted near 24200 zone taking a breather and hovered near the important 200 period MA at 24050 taking support with bias maintained positive having the near-term significant support positioned near 23800 zone which once sustained, can expect for further upward move in the coming days. The undertone has been maintained strong and with the trend getting stronger, one can anticipate positive gains in the coming days with higher targets visible. The support for the day is seen at 24000 levels while the resistance is seen at 24300 levels
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