Tale of the Tape 

Hi ya’ll. The weekend is here!

Nifty (-0.2%) and Sensex (-0.3%) took a breather on Friday after rallying +4% this week. Midcaps (+0.9%) and Smallcaps (+1.9%) continued their hot streak. The advance-decline ratio was in favour of the bulls (3:2). Check out the Stocktwits Sentiment Meter:

Most sectors ended in the green. Real Estate (+1.6%), Energy (+0.9%) and Auto (+0.6%) saw the most buying. IT (-0.8%) was the top loser.

BSE has been on a freaking rocket ship over the last two months! Read our top story to get the lowdown.

Crompton Greaves (+7%) posted solid Q4 numbers. Meanwhile, JSW Energy (+3%)’s Q4 saw an early heatwave boost. More details below.

Block deals. Bharti Airtel (-3%) was the top Nifty loser after Singapore’s Singtel sold a 1.2% stake for $1.5 billion. JSW Infra was down -3% after 4.26 cr shares, or 2.03% equity, changed hands in a big block deal. Reports say the promoter was the likely seller.

IndusInd Bank was volatile after global brokerage firms CLSA and Investec downgraded the stock amidst reports of more accounting discrepancies.

Railway stocks were on fire today! IRFC, RVNL and Titagarh Rail gained between +7% and +13%.

Q4 reactions. Neuland Laboratories (-7%) was the top NSE 500 loser after its Q4 profit dropped -54% YoY. Meanwhile, SKF India was up +6% after posting a Q4 margin beat.

Balmer Lawrie cracked -5% after the company did not approve a bonus, buyback or stock split.

Stock
BSE aka “Best Stock Ever”

BSE has been KILLING it! The stock has almost DOUBLED in the past 2 months after fears of a trading slowdown didn’t pan out as many thought. Here’s what you need to know.

Recap time: SEBI started cracking down on the F&O party towards the end of 2024. When combined with the market correction, the mood kinda soured. Volumes fell and people thought the good times were coming to an end. 

But it didn’t quite work that way, mostly due to the expiry war that followed:

1) In Oct 2024, SEBI said exchanges were allowed to offer weekly expiry contracts on only one benchmark index. This hurt NSE more, because it had four versus BSE’s two. More importantly, BSE changed its expiry day from Friday to Tuesday. This allowed it to undercut NSE. FYI - BSE’s index option premium market share jumped from 16.4% in Dec 2024 to 22.1% in February 2025 as a result! PS - NSE tried to retaliate by shifting to Monday, but SEBI said no-no. So overall, a big win for BSE there.

2) Secondly, exchanges are trading higher volumes for better profits. For example: F&O trading volumes have dropped, but the impact on premiums isn’t as bad because the action shifts to longer monthly expiry contracts. Example: while index options volumes dropped  -16% YoY over Dec 2024-March 2025 in notional terms, they only fell -5% YoY in premium terms! 

Big Picture: BSE is still a LOT bigger than it was a year ago. Its Q4FY25 profit jumped nearly +5x YoY, which puts this whole blip into perspective. Reminder: the house ALWAYS wins when people gamble. That said, remain cautious how growth pans out from here. Especially because BSE has overshot past all analyst price targets aka overstretched valuations!

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.