Markets Wake to Mixed Signals: Wall Street Slips, Asia Staggers, Europe Finds a Foothold – All Eyes on Earnings Tsunami

Image Source: The Hindu Business Line

Today's Market at 08:15 am
US Market (Futures)
      Nasdaq = -157.20
      Dow Jones = -275.90
      S&P 500 = -41.80
European (Futures)
      Ftse 100 = +132.80
      Cac 40 = -15.10
      Dax = -46.50
Asian
      Nikkei 225 = -235.00 (Futures)(Trading Holiday)
      ASX 200 = -56.6
      Straits Times = -4.10
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China A50 = +78.50 (Futures)(Trading Holiday)
Gift Nifty = 24531.00 (+127.50)

FII and DII Trading Activity May 2, 2025 in Cash market:
FIIs: Net Buy of ₹2,769.81 crore
DIIs: Net Buy of ₹3,290.49 crore

Results Today:
Mahindra & Mahindra, Indian Hotels Company, Coforge, Bombay Dyeing & Manufacturing Company, Computer Age Management Services, CCL Products, Capri Global Capital, Cigniti Technologies, Ethos, Jammu & Kashmir Bank, Nureca, Unicommerce Esolutions, and Zee Media Corporation will release their quarterly earnings on May 5.

Post-Market Earnings Announcement:

State Bank of India Q4 (Standalone YoY):
- Profit drops 9.9% to Rs 18,642.6 crore Vs Rs 20,698.4 crore
- Net interest income grows 2.7% to Rs 42,774.6 crore Vs Rs 41,655.2 crore
- Provisions and contingencies spikes 4-fold to Rs 6,441.7 crore Vs Rs 1,609.8 crore
- Gross NPA falls to 1.82% Vs 2.07% (QoQ)
- Net NPA declines to 0.47% Vs 0.53% (QoQ)
- Board declares dividend of Rs 15.9 per share for FY25
- Board approves fund raising up to Rs 25,000 crore in FY26
Kotak Mahindra Bank Q4 (Standalone YoY):
- Profit declines 14.1% to Rs 3,551.7 crore Vs Rs 4,133.3 crore
- Net interest income increases 5.4% to Rs 7,283.6 crore Vs Rs 6,909.4 crore
- Provisions and contingencies soars 244.8% to Rs 909.4 crore Vs Rs 263.7 crore
- Gross NPA slips to 1.42% Vs 1.50% (QoQ)
- Net NPA drops to 0.31% Vs 0.41% (QoQ)
Avenue Supermarts Q4 (Consolidated YoY):
- Profit falls 2.2% to Rs 550.9 crore Vs Rs 563.3 crore
- Revenue grows 16.9% to Rs 14,872 crore Vs Rs 12,726.6 crore
Indian Bank Q4 (Standalone YoY):
- Profit zooms 31.6% to Rs 2,956.1 crore Vs Rs 2,247 crore
- Net interest income rises 6.2% to Rs 6,389.3 crore Vs Rs 6,015.4 crore
- Provisions and contingencies plunge 36.3% to Rs 794.6 crore Vs Rs 1,247.8 crore
- Gross NPA drops to 3.09% Vs 3.26% (QoQ)
- Net NPA slips to 0.19% Vs 0.21% (QoQ)
Vardhman Textiles Q4 (Consolidated YoY):
- Profit jumps 18.3% to Rs 237.3 crore Vs Rs 200.6 crore
- Revenue increases 2% to Rs 2,508.6 crore Vs Rs 2,459.4 crore
Voltamp Transformers Q4 (YoY):
- Profit rises 3.5% to Rs 96.8 crore Vs Rs 93.5 crore
- Revenue soars 23.9% to Rs 624.8 crore Vs Rs 504.2 crore
- Board recommends dividend of Rs 100 per share for FY25
PNB Gilts Q4 (YoY):
- Profit increases 10.1% to Rs 75 crore Vs Rs 68.1 crore
- Revenue declines 11.6% to Rs 418.8 crore Vs Rs 473.9 crore
Archean Chemical Industries Q4 (Consolidated YoY):
- Profit drops 6.7% to Rs 53.7 crore Vs Rs 57.6 crore
- Revenue grows 21.7% to Rs 345.6 crore Vs Rs 283.9 crore
Sanofi Consumer Healthcare India Q1 (YoY):
- Profit sinks 20.3% to Rs 50 crore Vs Rs 62.7 crore
- Revenue tanks 22.1% to Rs 172.6 crore Vs Rs 221.6 crore
Gravita India Q4 (Consolidated YoY):
- Profit grows 36.7% to Rs 94.9 crore Vs Rs 69.4 crore
- Revenue jumps 20.1% to Rs 1037.1 crore Vs Rs 863.4 crore
- Board declares interim dividend of Rs 6.35 per share
RR Kabel Q4 (Consolidated YoY):
- Profit spikes 64% to Rs 129.1 crore Vs Rs 78.7 crore
- Revenue soars 26.4% to Rs 2,217.8 crore Vs Rs 1,754 crore
Sunteck Realty Q4 (Consolidated YoY):
- Profit plunges 50.3% to Rs 50.4 crore Vs Rs 101.3 crore
- Revenue sinks 51.7% to Rs 206 crore Vs Rs 426.9 crore
City Union Bank Q4 (YoY):
- Profit grows 13% to Rs 288 crore Vs Rs 254.8 crore
- Net interest income increases 9.8% to Rs 600.3 crore Vs Rs 546.6 crore
- Provisions and contingencies zooms 143.8% to Rs 78 crore Vs Rs 32 crore
- Gross NPA drops to 3.09% Vs 3.36% (QoQ)
- Net NPA declines to 1.25% Vs 1.42% (QoQ)
Aether Industries Q4 (Consolidated YoY):
- Profit stands at 50.3 crore Vs loss of Rs 1.4 crore
- Revenue zooms 104.4% to Rs 240.2 crore Vs Rs 117.5 crore
Marico Q4 (Consolidated YoY):
- Profit increases 7.8% to Rs 345 crore Vs Rs 320 crore
- Revenue grows 19.8% to Rs 2,730 crore Vs Rs 2,278 crore
- EBTIDA rises 3.6% to Rs 458 crore Vs Rs 442 crore
- Margin drops 260 bps to 16.8% Vs 19.4%
- Board recommends final dividend of Rs 7 per share for FY25
CDSL Q4FY25 Highlights (Consolidated, YoY):
- Total Income down 4.3% at Rs 256 crore versus Rs 267 crore
- Net profit down 22.4% at Rs 100 crore versus Rs 129 crore
- Board recommends final dividend of Rs 12.5 per share

Key Corporate Developments and Updates:

AU Small Finance Bank:
- True North, Indium IV (Mauritius), and Silver Leaf Oak plan to sell 92.3 lakh shares (1.24% equity) via block deals at a floor price of Rs 650/share, per CNBC-TV18 sources.
Azad Engineering:
- Signed a long-term supply agreement with GE Steam Power GMBH (GE Vernova Power, Switzerland) to manufacture airfoils for nuclear, industrial, and thermal sectors.
- Contract value: $53.5 million (Rs 452.48 crore).
IRCON International:
- Received a Rs 458.14 crore work order from North Eastern Electric Power Corporation for civil works at the Tato-I Hydro Electric Project in Arunachal Pradesh.
Shilpa Medicare:
- Biologics subsidiary, Shilpa Biologics, secured European GMP certification for its Dharwad, Karnataka plant after a February 18–20 inspection by Austria’s competent authority.
Concord Biotech:
- Received four procedural observations from the US FDA (Form 483) during an April 28–May 2 inspection of its API facility in Dholka.
- No data integrity issues noted.
BSE:
- Signed an agreement to sell 100% stake in BSE Institute (BIL) to AV Financial Experts Network for Rs 16.9 crore, pending pre-closing conditions.
GOCL Corporation:
- Board approved sale of subsidiary IDL Explosives to Apollo Defence Industries for Rs 107 crore.
Tata Motors:
- Board approved issuance of non-convertible debentures (NCDs) up to Rs 500 crore.
Indraprastha Gas:
- Rajkumar Dubey appointed Chairman effective May 1, succeeding Sukhmal Kumar Jain.
Tata Steel:
- LIC increased its stake from 5.836% to 7.851% between July 28, 2022, and April 30, 2025.
NTPC:
- NTPC Renewable Energy commenced commercial operation of the final phase (60 MW) of its 150 MW Gujarat Solar PV project, taking NTPC Group’s total capacity to 80,155 MW.
JSW Steel:
- Revisionary Authority quashed Rs 702 crore demand notices and remanded the matter to Odisha Govt for reconsideration with proper hearing regarding grade drop and mining plan violations.
Adani Ports and SEZ:
- Handled 37.5 MMT cargo in April, up 4% YoY.
- Growth driven by containers (+21% YoY), liquids and gas (+8% YoY).
- Rail logistics volume rose 17% YoY to 57,751 TEUs; GPWIS volume increased 4% YoY to 1.8 MMT.

Bulk Deals:
Resourceful Automobile
Plutus Capital Management LLP bought 30,000 equity shares in the company at an average price of Rs 70.26 per share.
Expo Gas Containers
Aegis Investment Fund bought 2,48,991 equity shares in the company at an average price of Rs 60 per share.
Gujarat Natural Resources
Prime Venture Growth Fund-I sold 6.5 lakh shares in the company at an average price of Rs 46.76 per share.

Block Deals:
PNB Housing Finance
Quality Investment Holdings PCC exited PNB Housing by selling its entire 10.44% stake (2.71 crore shares) at an average price of Rs 1,000.20 per share, valued at Rs 2,712.97 crore. However, the buyers for the 10.44% stake included Edelweiss MF, Franklin Templeton MF, Aditya Birla Sun Life MF, ICICI Prudential Life Insurance Company, Nippon India MF, Bandhan MF, Kotak Mahindra MF, Daiwa House Industry Pension Fund, Employees Provident Fund Board, Nomura, Singularity Holdings, Viridian Asia Opportunities Master Fund, AL Mehwar Commercial Investments, Ask Absolute Return Fund, Aurigin Master Fund, Axis MF, Bank of India MF, Canara Robeco MF, Carmignac Portfolio, Citigroup, Cohesion MK Best Ideas Sub-Trust, Discovery Global Opportunity Mauritius, DSP MF, Edelweiss Life Insurance Company, Florida Retirement System, Ghisallo Master Fund, Goldman Sachs, HDFC Bank, ITI MF, Jupiter India Fund, Kotak Mahindra Life Insurance Company, Mahindra Manulife MF, Max Life Insurance, Morgan Stanley, Motilal Oswal MF, Neuberger Berman, Norges Bank, Nuvama Multi Asset Strategy Return Fund, Optimix Wholesale, PI Opportunities AIF V, Plutus Wealth Management, Aditya Birla Sun Life Insurance Company, SBI Life Insurance, Societe Generale, Subhkam Ventures, Sundaram MF, Tara Emerging Asia Liquid Fund, Tata AIA Life Insurance, Tata MF, Jupiter Global Fund, Saudi Second Investment Company, Theleme India Master Fund, UTI MF, and Valuequest India.

Stocks Trade Ex-Dividend:
Oberoi Realty, PTC India
Stocks in F&O ban:
RBL Bank

Source: Moneycontrol, NDTVPROFIT, NSE India, Investing.com