Tale of the Tape 

Howdy folks!

Nifty (+0.4%) and Sensex (+0.2%) bounced back from the day’s low to end higher. Midcaps (+1.1%) and Smallcaps (+1.4%) posted solid gains. The advance-decline ratio was in favour of the bulls (4:1). Here’s the Nifty500 heatmap:

Except Banks (-0.3%), all other sectors ended in the green. Metals (+2.5%) zoomed, while Real Estate (+1.7%) and Energy (+1.4%) saw strong buying.

Garden Reach Shipbuilders (+16%) was the top NSE 500 gainer on a great Q4 show. On the flipside, Tata Motors posted meh Q4 numbers. More details below.

The quarterly MSCI rebalancing is throwing up winners and losers. Meanwhile, inflation hitting a six-year-low has boosted rate cut hopes. More details below.

ITD Cementation, KPI Green Energy and Shree Cement saw big moves today. Check out their charts below to find out why.

Asian Paints (-2%) was the top Nifty loser after reports said Reliance was planning to sell its full 4.9% stake.

HBL Engineering soared +11% after it received GOI approval for its Kavach 4.0 safety system.

Jubilant Foods (-1%) was in focus after reports said India planned to snap trade ties with Turkey. PS - the firm operates over 700 stores in the country.

Results reaction. HAL was up +4% on defence bullishness despite reporting iffy Q4 numbers. REC was down -3% after cutting its AUM growth guidance to 11%-13% vs 15%-17% earlier.

Gensol Engineering was locked in a +5% upper circuit for a second day. ICYMI -  the Jaggi brothers resigned from the board after the SEBI order.

Earnings
Earnings Roundup

Garden Reach Shipbuilders (+15%) jumped after blockbuster Q4 results! Quicker project execution helped boost topline growth. Better operational efficiency jacked up margins and allowed profits to more than double YoY. Naturally, the PSU defense firm recorded its highest-ever revenue and bottomline in FY25.

Chairman Hari PR said: “With our strong order book, production maturity of the ongoing projects and order visibility including in the commercial shipbuilding segment, I am confident of even better performance during the current financial year.”

PS - Antique Broking believes the shipyard sector is in for a GREAT time on the back of GOI orders. It sees Garden Reach’s order book jumping nearly +5x to Rs 1.2 lakh cr by FY27. 

Here are its key stats:

• Revenue: Rs 1,642 cr; +62% YoY

• EBITDA: Rs 219 cr; +142% YoY

• EBITDA Margin: 13.3% vs 8.9% YoY

• PAT: Rs 244 cr; +2x YoY 

Garden Reach is +32% YTD.

Tata Motors (-1%) reported mixed Q4 numbers. A small bump in JLR volumes offset a -6% YoY drop in domestic car sales to result in an overall flat topline. Margins were flat YoY; the automaker plans to hike car prices from April so there should be improvement moving forward. Also, the net profit figure looks awful mostly because last year’s PAT was boosted by a one-off.

But there’s some not-so-great news for JLR. While the JLR biz hit its 8.5% EBIT margin target for FY25 it’s no longer confirming its FY26 target of 10%. While the US & UK signed a trade deal for exports, its ‘Defender’ SUV is made in Slovakia and it may not qualify for lower tariffs.

PS - analysts remain cautious. Kotak has downgraded the stock, but Jefferies slightly upped its target price to Rs 630 p/sh (vs Rs 625 p/sh earlier). The stock closed at Rs 700 p/sh.

Here is its Q4 report card:

• Revenue: Rs 1.19 lakh cr; flat YoY (vs Est: Rs 1.23 lakh cr)

• EBITDA: Rs 16,992 cr; flat YoY (vs Est: Rs 16,539 cr)

• EBITDA Margin: 14.2% vs 14.2% YoY

• PAT: Rs 8,470 cr; -51% YoY (vs est: Rs 7,841 cr)

Tata Motors is -7% YTD.

Specials
Time to Buy Suzlon?

Suzlon is +45% in the past year despite a healthy correction from its recent top. Should you buy the dip or wait for further downside?

In less than 5 minutes, we cover everything about the recent developments in the company, brokerage updates and SEBI RAs’ views on Suzlon. Check out our recent video here.