Morning Pulse: Bulls Stir in the West, Asia Mixed, and India Eyes the Earnings Avalanche

Today's Market at 08:30am 
 US Market (Futures) 
      Nasdaq = +110.70
      Dow Jones = +174.70
      S&P 500 = +27.30
 European (Futures) 
      Ftse 100 = +0.00
      Cac 40 = +25.30
      Dax = +115.50
 Asian 
      Nikkei 225 = -67.92
      ASX 200 = -2.80
      Straits Times = +47.06
      Hang Seng = -56.14
      KOSPI = +3.21
      Taiwan weighted = -210.21
      Shanghai (SSE) = +10.43
Gift Nifty = 24168.50 (+80.00)

 FII and DII Trading Activity for April 21, 2025 in Cash market: 
FIIs: Net Buy of ₹1,970.17 crore
DIIs: Net Buy of ₹246.59 crore

 Results Today 
HCL Technologies, Mahindra & Mahindra Financial Services, Tata Communications, Havells India, AU Small Finance Bank, Waaree Energies, Cyient DLM, Delta Corp, Hathway Cable & Datacom, Choice International, Huhtamaki India, and Vardhman Special Steels will announce their quarterly earnings on April 22.

Quarterly Earnings Updates

 Rajratan Global Wire Q4 (Consolidated YoY) 
- Profit sinks 25% to Rs 15.2 crore Vs Rs 20.25 crore
- Revenue rises 4.9% to Rs 251.4 crore Vs Rs 239.6 crore
 Alok Industries Q4 (Consolidated YoY) 
- Loss narrows to Rs 74.5 crore Vs loss of Rs 215.9 crore
- Revenue declines 35.1% to Rs 953 crore Vs Rs 1,469.3 crore
- Anil Kumar Mungad resigns as Chief Financial Officer of the company, effective April 29
 Tata Investment Corporation Q4 (Consolidated YoY): 
- Profit plunges 37.6% to Rs 37.7 crore Vs Rs 60.5 crore
- Revenue drops 71.2% to Rs 16.4 crore Vs Rs 57.1 crore
- Board recommends a dividend of Rs 27 per share
 Anant Raj Q4 (Consolidated YoY) 
- Profit zooms 51.5% to Rs 118.6 crore Vs Rs 78.3 crore
- Revenue grows 22.2% to Rs 540.7 crore Vs Rs 442.6 crore
 Himadri Speciality Chemical Q4 (Consolidated YoY): 
- Profit jumps 35.1% to Rs 155.6 crore Vs Rs 115.2 crore
- Revenue falls 3.6% to Rs 1,134.6 crore Vs Rs 1,177 crore
- Board approves acquisition of 100% stake in Elixir Carbo for Rs 7.5 crore in cash
 Pitti Engineering Q4 (Consolidated YoY): 
- Profit sinks 21.4% to Rs 36.1 crore Vs Rs 46 crore
- Revenue surges 39.6% to Rs 468.8 crore Vs Rs 335.9 crore
 Mahindra Logistics Q4 (Consolidated YoY) 
- Net loss narrows to Rs 6.75 crore Vs loss of Rs 12.85 crore
- Revenue increases 8.2% to Rs 1,569.5 crore Vs Rs 1,450.8 crore
- Hemant Sikka to become MD & CEO (Designate); Rampraveen Swaminathan resigns

Key Corporate Developments and Updates

 Steel Stocks like SAIL, JSW Steel, Tata Steel, JSPL: 
- The government imposed a 12% safeguard duty on some steel imports from developed economies, China and Vietnam. 
- The duty is applicable for 200 days to protect Indian players from cheap Chinese steel imports.
 Vedanta: 
- Promoter entity Twin Star Holdings (borrower) has signed a Facility Agreement for $530 million with lenders. 
- Vedanta Resources and Welter Trading are guarantors to the agreement. 
- The Facility Agreement has been entered into for the purpose of servicing the financial indebtedness of the VRL Group.
 Tata Power Company: 
- The company’s renewable energy subsidiary, Tata Power Renewable Energy (TPREL), has signed a Power Purchase Agreement (PPA) to co-develop a 131 MW wind-solar hybrid renewable energy project.
 Hindustan Unilever: 
- The company has completed the acquisition of 90.5% shareholding in Uprising through a combination of primary infusion and secondary acquisition for a total cash consideration of Rs 2,706.4 crore.
 HG Infra Engineering: 
- HG Infra has been declared a qualified bidder by Gujarat Urja Vikas Nigam for 300 MW/600 MWh (out of the total project capacity of 500 MW/1000 MWh) for the setting up of standalone battery energy storage systems in Gujarat.
 Gandhar Oil Refinery (India): 
- The company has signed a non-binding Memorandum of Understanding (MoU) with the Jawaharlal Nehru Port Authority (JNPA) to develop terminal at Vadhvan Port with ~Rs 1,000 crore investment; operations expected by 2030.
 One 97 Communications (Paytm): 
- The company revamps interest rates and brokerage for its Pay Later (MTF) facility to attract retail and high-value investors.
 Nureca: 
- The company has received formal approval from the Government of Punjab, Department of Industries & Commerce (Invest Punjab), for the establishment of a new manufacturing facility in Sundra, SAS Nagar, Punjab. 
- The unit will focus on the manufacturing of health and wellness equipment.
 Coal India: 
- The company has signed a non-binding Memorandum of Understanding (MoU) with Damodar Valley Corporation (DVC) to set up a 2×800 MW coal-fired ultra supercritical power plant in Jharkhand. 
- DVC is a power generator operating in West Bengal and Jharkhand.
 Brigade Enterprises: 
- The company has signed a Joint Development Agreement for a plotted development project in Malur, East Bengaluru, spanning approximately 20 acres. 
- The gross development value of the project is around Rs 175 crore, with a total development potential of 0.45 million square feet.
 Gujarat Alkalies and Chemicals: 
- The company has dispatched its first consignment of Benzyl Chloride from its new plant at Dahej. 
- The company has established a 30,000 TPA Chlorotoluene plant at Dahej with an estimated project cost of Rs 350 crore.
 Mazagon Dock Shipbuilders: 
- Capt (IN Retd) Jagmohan appointed Chairman & MD, replacing Biju George's interim charge (effective April 21).

 Stock Trades Ex-Date for Amalgamation 
Rane Engine Valve, Rane Brake Lining
 Stocks in F&O ban: 
Tata Elxsi, Angel One, Hindustan Copper, IREDA, Manappuram Finance

Source: Moneycontrol, NDTV Profit, Investing.com, NSE India