Market Bizzz

Tanla Platforms shares will be in focus after the board approved a Rs 175-crore share buyback at Rs 875 per share via tender offer. The buyback represents 1.49% of equity capital. Despite a slight rise in Q4 revenue, net profit fell 9.9% YoY. The stock has jumped 53% in 3 months.

India outperformed considerably in 2024 which partly explains part of the underperformance this year. By around September last year, valuations were no longer inexpensive, earnings forecasts started seeing moderate cuts, FPI outflows followed, and system liquidity went into deficit – a trend which continued into 1Q2025.

ICICI Securities maintains a buy call on Mahanagar Gas (MGL) with a target price of Rs 1705, indicating a 28% upside. The brokerage is optimistic about MGL’s long-term prospects, citing strong volume visibility, peer-leading margins, and attractive valuation. They believe the current valuation is significantly below that of its peers, leaving room for growth.

ITC’s shares are set to be in focus following the completion of its acquisition of Sresta Natural Bioproducts for up to Rs 472.5 crore. This acquisition, finalized on June 13, 2025, makes SNBPL a wholly-owned subsidiary and strengthens ITC’s presence in the growing organic food sector, both domestically and internationally, with SNBPL’s established network of farmers and certified organic farmland.

ECB President Christine Lagarde stated that the central bank is close to achieving its 2% medium-term inflation target, emphasizing financial stability as crucial for price stability. The ECB has lowered its inflation forecasts, projecting 2.0% inflation in 2025 and 1.6% in the coming year. Lagarde also mentioned that the ECB’s digital currency project is nearing readiness, pending legislative approval.

The Nifty experienced a setback, failing to sustain a breakout from its month-long consolidation phase, closing with a weekly loss of 1.14%. Geopolitical tensions, particularly the Israel-Iran conflict, are expected to influence global equity markets, including India. Despite these uncertainties, the Indian market demonstrates resilience, remaining within the 24500-25100 range.

Amidst escalating geopolitical tensions, Indian markets faced a downturn, with the Nifty and Sensex both declining. Analyst Sudeep Shah suggests a cautious approach, highlighting crucial support levels for the Nifty at 24450 and resistance at 24900. He anticipates pressure on oil marketing and aviation sectors due to rising crude prices, while defense and IT sectors may outperform.

The Indian rupee weakened to 86.20 per dollar due to rising crude oil prices following Israeli strikes on Iran, but closed at 86.08/$1 after likely RBI intervention. Brent crude surged to $75 per barrel, impacting risk sentiment and pushing the 10-year bond yield to 6.40% before settling at 6.36%. Geopolitical tensions created a fragile mood for bonds.

The Reserve Bank of India (RBI) cancelled a ₹5,000 crore green bond auction for the 30-year paper, despite receiving bids exceeding ₹10,943 crore. This cancellation, the second this year, is attributed to bids with yields higher than the RBI’s comfort level. Geopolitical tensions and a weakening rupee contributed to the increased pressure on bond yields, influencing investor expectations.

Indian equity indices closed lower on Friday due to Israel’s strikes on Iran, which raised concerns about oil supply disruptions and a wider Middle East conflict. Despite an initial sharp fall, the market recovered some losses, supported by underlying bullish sentiment. Both Nifty and Sensex declined, with investors closely watching key support levels for further market direction.