Market Bizzz

Bloomberg’s analysis suggests that riskier emerging-market bonds, particularly from India, Indonesia, Brazil, and South Africa, are outperforming due to the dollar’s decline offsetting rising Treasury yields. Goldman Sachs strategists note that a weaker dollar reduces the impact of higher US yields on EM rates, benefiting higher-yielding bonds.

Vodafone Idea is anticipated to reveal its Q4FY25 financial results, with ICICI Securities forecasting a widened net loss of Rs 7,626.10 crore. Revenue is expected to reach Rs 10,982.7 crore, while EBITDA is projected at Rs 4468.09 crore. The brokerage firm maintains a ‘hold’ rating on the stock, citing ongoing financial difficulties despite slight revenue and EBITDA improvements year-over-year.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources.

The Steel Authority of India Limited (SAIL) reported an 11% YoY rise in Q4FY25 consolidated net profit to Rs 1,251 crore. Revenue increased 5% to Rs 29,316 crore. Despite a strong quarterly performance, full-year profit declined due to higher expenses. The stock’s average target price is Rs 110 with a ‘Hold’ consensus.

Independent Analyst, Anand Tandon, views Dalal Street mood as reasonably buoyant. Market valuations are high, similar to September ’24 levels. He anticipates potential tariff impacts, urging India to enhance manufacturing competitiveness. Focus areas include railways and defence. Tandon suggests textiles and defence exports hold promise. He emphasizes shifting from subsidy-driven models to cost-effective manufacturing.

HDFC AMC’s Priya Ranjan suggests a “coexistence era” for ICE and EV technologies, with ICE vehicles maintaining dominance in commercial and entry-level segments. While EV growth is promising, infrastructure and cost parity remain challenges. Anticipated interest rate cuts in 2025 could stimulate financing-driven demand, particularly in rural markets and for commercial vehicles, potentially boosting entry-level vehicle sales.

NR Vandana Tex Industries will launch its IPO on May 28, aiming to raise Rs 27.89 crore through a fresh issue of shares priced between Rs 42 and Rs 45. The Kolkata-based textile company, known for its Vandana and Tanya brands, will use the funds for working capital, debt repayment, and general corporate purposes.

Krishnan VR of Marcellus Investment Managers advises investors to focus on bottoms-up stock analysis, particularly in the mid and small-cap segments, due to current market uncertainty. Emphasis should be on identifying companies with strong, consistent earnings growth, as growth is becoming increasingly scarce. Extended valuations suggest some uncertainties haven’t been priced in.

Nitin Raheja anticipates a consumption revival driven by factors like falling inflation, interest rate cuts, and a strong monsoon, benefiting rural-focused sectors and FMCG. He remains optimistic about premium consumption, manufacturing, and EMS, expecting markets to hit new highs in the second half, fueled by domestic consumption and a good festival season.

Awfis Space Solutions reported a sharp jump in Q4FY25 profit to Rs 11.3 crore, up over nine times YoY, while revenue rose 46% to Rs 339 crore, driven by strong growth in coworking and allied services. FY25 revenue grew 42% to Rs 1,207 crore.