Tale of the Tape 

Hola Amigos. Nifty has officially reclaimed the 25k-mark!

Nifty (+1.6%) and Sensex (1.5%) skyrocketed in the last two hours of trading. Midcaps (+0.7%) and Smallcaps (+0.5%) also climbed higher. A cool 375 stocks in the NSE 500 were up.

It was a sea of green across sectors. Real Estate (+1.9%) and Auto (+1.9%) were the top gainers, followed by Metals (+1.7%) and NBFCs (+1.3%).

As India and Turkey break up, what stocks could be affected? Read our top story to get all the deets.

Cochin Shipyard (+7%) soared on a decent Q4 show. Meanwhile, Muthoot Finance tanked -7% over future growth concerns. More details below.

Page Industries, South Indian Bank and CESC saw big moves today. Check out their charts below to find out why.

Hero MotoCorp (+6%) was the top Nifty gainer after JM Financial re-initiated coverage on the stock; it sees a further +9% upside from current levels.

IndusInd Bank ended lower after reports said the bank’s board was probing a fresh accounting scandal.

Wendt crashed -17% after its German parent said they would sell their entire stake.

Fertiliser stocks were buzzing after better-than-expected inflation data & good monsoon expectations. Rashtriya Chemicals, Mangalore Chemicals and FACT were up +3% to +4%.

Vodafone Idea was up +3% after it filed a plea in the Supreme Court asking for Rs 30,000-cr in AGR relief.

Kalpataru Projects surged +5% intraday after winning multiple orders worth Rs 2,372 crore.

News
Boycott Turkey and Azerbaijan!

India’s ties with Turkey and Azerbaijan hit rock bottom! ICYMI - both countries criticized India’s military ops against Pakistan. Turkey even supplied the drones that Pak used to attack us. Reports say India may suspend the $10 billion in bilateral trade with Istanbul, but bad relations may also affect some stocks.

State of play: Around 330k Indian tourists visited Turkey in 2024, spending up to $400 million. Azerbaijan saw 240k travellers. This is coming to a screeching halt, with travel platforms stopping bookings or discounts. Fun fact: MakeMyTrip says it’s seen bookings drop by 60% since Operation Sindoor!

This has consequences for travel & tourism-related plays. Aviation already has been hit by a double whammy with Pak’s airspace being closed (leading to longer flights to Europe & US) and 32 airports in North India being shut. FYI - IndiGo operates two daily flights to Turkey. The airline is also the only player that operates between Delhi and Baku. PS - boycotts often fade away quickly (see: Maldives), but for long-term IndiGo investors, keep an eye out.

Go deeper: Several QSR players have exposure to Turkey as well. Jubilant FoodWorks (-2%) has more than 900 restaurants in Turkey, split between Dominos and the ‘Coffy’ chain. Now, all those eateries obviously depend on local consumption, not tourism. But if India-Turkey relations get nasty, there could be some backlash to Jubilant. FWIW - Jubilant’s CEO says there’s nothing to worry and that in Turkey they are “oblivious to any political changes”.

Finally, there’s a bunch of stocks scattered around different sectors. Polyplex’s Turkey plant for instance accounts for ~6% of its topline. So be sure to check your portfolio carefully!

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.