Author: Eqwires

Shares of Goldiam International, Pokarna, Garware Hi-Tech Films and Pearl Global Industries from the BSE Smallcap index were locked in upper circuit of up to 20 per cent on the BSE in Friday’s intra-day trade on a sharp recovery in the equity markets. Till Wednesday, these stocks had tanked by up to 55 per cent from their respective 52-week highs. 

Today, the BSE Sensex and Smallcap index have rallied by up to nearly 3 per cent following the pause in US tariffs for most nations, except China which faces a 145 per cent tariff rate. 

Among the individual stocks, Goldiam International zoomed 20 per cent to ₹327 on the back of heavy volumes. Till 11:03 am; as many as 6.4 million equity shares representing 6 per cent of the total equity of the company have changed hands on the NSE and BSE. The stock had corrected 52 per cent from its 52-week high level of ₹569 on January 6, 2025. On Wednesday, it closed at ₹272.50 on the BSE.

Investor Ramesh Damani has sold 280,000 shares, or 0.28 percentage point stake in Goldiam International, during the January to March period. According to March 2025 shareholding data, Ramesh Damani’s holding in the company reduced to 1.31 per cent from 1.58 per cent at the end of December 2024 quarter. 

Goldiam International functions as the manufacturer of choice for many of the leading global branded retailers, departmental stores and wholesalers across American markets. Targeting the mid-to-affordable diamond & bridal jewellery segments, Goldiam has a dedicated sales office in New York, with design teams in both India and the USA.

Shares of Pearl Global Industries locked in 10 per cent upper circuit at ₹1,011.80 on the BSE. They closed at ₹919.85 on Wednesday, and they had corrected 46 per cent from their 52-week high price of ₹1,718.05 hit on January 16. 

The company is primarily engaged in manufacturing, sourcing and export of ready-to-wear apparels through its facilities and operations in India and overseas with USA contributing the highest amongst all countries. Its marquee clientele includes GAP, Kohl’s, Inditex, PVH, Macy’s, Ralph Lauren, Old Navy, Muji and Talbots, among others. 

Investor Mukul Mahavir Agrawal held a 2.61 per cent stake in Pearl Global Industries at the end of December 2024 quarter, the shareholding pattern data shows.

Shares of Garware Hi-Tech Films (GHFL) also locked in 10 per cent upper circuit at ₹2,654.20 on the BSE in intra-day trade. It had declined 55 per cent from its 52-week high level of ₹5,373 touched on December 20, 2024 to close at ₹2,412.95 on Wednesday. 

GHFL is one of the few companies in the world to have a vertically integrated chip-to-film operation in Chhatrapati Sambhaji Nagar (Aurangabad), Maharashtra, India, to produce a highly quality and varieties of specialty polyester films used in various industries/applications across the globe such as Paint Protection Films, Sun Control Films (Auto and Architectural), Shrink Label Packaging, Reprographics, Electrical, Thermal Insulation, etc.

Shares of Pokarna were up 10 per cent at ₹828 on the BSE in intra-day trade. The company is principally engaged in the business of quarrying, manufacturing and processing and selling of Granite and manufacturing and selling of Apparel under the brand name ‘Stanza’. 

The granite sector in India contributes significantly to the national economy through exports to major markets including the USA, Europe, the UK, Russia, the Middle East, China and Canada.

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FMCG major ITC and mid-cap pharma stock Jyothy Labs have given a fresh breakout on the daily scale in the last two trading sessions, thus implying a likely favourable trend in the near-term. Here’s a detailed technical analysis on Today Break Out Stock ITC and Jyothy Labs shares. 

ITC Current Price: ₹ 420 Upside Potential: 9.8% Support: ₹ 410; ₹ 400; ₹ 395 Resistance: ₹ 431; ₹ 444; ₹ 454 ITC stock has witnessed a breakout on the daily chart in its previous trading session, as the stock closed above its super trend line resistance. The overall bias is now expected to remain favourable as long as the stock holds above ₹ 395. Near support for the stock is visible at ₹ 410 and ₹ 404 levels.

At present, ITC is testing resistance at its 100-Day Simple Moving Average (DSMA) also known as the 100-DMA, which stands at ₹ 421. Break and sustained trade above the stock can see the stock spurt towards the 200-DMA at ₹ 431 levels. In the short-to-medium term the stock is expected to rally towards ₹ 461 levels, shows the weekly chart. Interim resistance can be anticipated around ₹ 444 and ₹ 454 levels. 

 Jyothy Labs Current Price: ₹ 370 Upside Potential: 17.8% Support: ₹ 352; ₹ 340; ₹ 317 Resistance: ₹ 411; ₹ 426 Jyothy Labs too is seen trading firmly above its super trend line for the second straight day. That apart the stock is also trading above the higher-end of the Bollinger Bands on the daily scale; thus implying a bullish bias for the stock as long as it holds above ₹ 365. 

The overall bias for the stock is expected to remain positive as long as the stock trades above ₹ 317 levels. Interim support for the stock is placed at ₹ 352 and ₹ 340 levels. Key momentum oscillators on the weekly chart, such as the Stochastic Slow and the Moving Average Convergence-Divergence (MACD) indicator have also turned favourable for Jyothy Labs. Chart suggests the stock can potentially rally towards ₹ 435 levels in the near-term. For now, key hurdles for the stock exist at ₹ 411 and ₹ 426 levels. 

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US President Donald Trump’s announcement of a 90-day halt on the imposition of reciprocal tariffs came as a relief for investors, who returned to Dalal Street after a day off. The benchmarks – BSE Sensex climbed 1,310 points or 1.77 per cent to 75,157, and NSE Nifty50 rose 429 points or 1.92 per cent to 22,828 – led by heavy buying across metal, pharma, and consumer durable counters. However, on a weekly basis, the Sensex and Nifty posted a decline of 0.27 per cent and 0.33 per cent, respectively. 

On Friday, from the Sensex pack, Tata Steel, Power Grid Corporation, NTPC, Mahindra & Mahindra, and Reliance Industries (RIL) were among the top gainers, with gains of up to 4.87 per cent. Conversely, Asian Paints and Tata Consultancy Services (TCS) were the only two Sensex stocks that ended lower, with losses of 0.76 per cent and 0.20 per cent, respectively.

Small-cap shares outperformed others in the broader market, with the Nifty Smallcap100 index settling 2.88 per cent higher, led by Atul and Welspun Living, which ended up by as much as 11 per cent. The Nifty Midcap100 index also ended higher by 1.85 per cent, led by PI Industries and Dixon Technologies, whose shares rose by up to 9.84 per cent. 

Among the sectoral indices, the Nifty Metal Index recorded the largest gains of 4.09 per cent, led by Hindalco and Jindal Steel. This was followed by consumer durables and pharma, which ended higher by up to 3.19 per cent and 2.43 per cent, respectively. Other sectoral indices also settled with gains in the range of 1–2.20 per cent.

Amidst this, the fear index (India VIX) settled lower by 6.17 per cent at 20.11 points.

That said, the market analysts expect the ongoing conflict over reciprocal tariffs to continue influencing the markets. In a recent development, China has retaliated by raising additional tariffs on American goods to a steep 125 per cent from 84 per cent. This move follows Trump’s imposition of a hefty 145 pe rcent tariff on Chinese goods. 

Prashanth Tapse, senior VP (Research), Mehta Equities, expects intra-day volatility with a negative bias to make a comeback, as China hitting back with 125 per cent tariffs on US imports could trigger a sell-off going ahead.

Meanwhile, Vinod Nair, head of research, Geojit Financial Services, believes that any development in bilateral trade negotiations can alter the near-term outlook on export-driven sectors. “The supportive domestic environment with an ease in interest rates and a benign inflation trajectory is encouraging investors to have a balanced portfolio to aid in a better risk-reward in the long term,” said Nair. Notably, in week foward, the Indian equity markets will remain closed for trading on Monday, April 14 (Baba Saheb Ambedkar Jayanti), and Friday, April 18, on account of Good Friday. 

Nifty faces resistance at 23,500

The Nifty faced resistance around the 21-EMA on the daily timeframe, leading to a close off the day’s high. The trend for Nifty50, Rupak De, senior technical analyst at LKP Securities, said, appears bearish unless it decisively moves above 23,000, where significant open interest has been added.

On the downside, support is placed at 22,750; a break below this level, De believes, could intensify the bearish sentiment. “Conversely, a decisive move above 23,000 may trigger a rally towards 23,500, as suggested by the positive divergence in the RSI.”

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Information technology (IT) major Tata Consultancy Services Ltd. is likely to post muted revenue and profit growth in the fourth quarter of the financial year 2025 (FY25) due to seasonality factors and a slowdown in key projects, according to analysts.   

The Tata Group’s IT arm will kickstart the fourth quarter earnings season for India Inc. on Thursday, April 10. 

The revenue for TCS is expected to fall slightly by 1.51 per cent to ₹63,009.75 crore quarter-on-quarter (QoQ), according to the analyst tracked by Business Standard. Revenue growth is expected to remain subdued due to the ramp-down of the BSNL project, though this is likely to be partially offset by a strong rebound in developed markets, analysts said.

However, an increase in the earnings before interest and taxes (Ebit) margins is likely to result in a 1.31 per cent sequential increase in the net profit to ₹12,541.9 crore for the IT bellwether in the March quarter. On a year-on-year (Y-o-Y) basis, the net profit is expected to grow at an average of 0.64 per cent. 

The IT major reported a net profit of ₹12,380 crore for the third quarter, marking an 11.9 per cent rise from ₹11,058 crore in the corresponding quarter of the previous financial year. Revenue for the quarter stood at ₹63,973 crore, up 5.6 per cent year-on-year. On a sequential basis, revenue declined 0.4 per cent. 

The impact of tariffs, the US growth outlook, reasons for underperformance in developed markets, and any project cancellations or delays will be the key factors to watch out for, according to analysts.  

Here’s how analysts of various brokerages expect TCS to fare in Q4:

HSBC: The global research firm expects TCS to post a 2.1 per cent Q-o-Q revenue growth to ₹61,237 crore in the March quarter. On an organic constant currency (CC) basis, HSBC expects the company to report 1 per cent Q-o-Q revenue growth. Margins will slightly improve sequentially as benefits of currency depreciation are expected to be invested back into the business for talent, growth and infrastructure.

The net profit is likely to increase by 2 per cent Q-o-Q to ₹12,434 crore, while the Ebit are expected to rise by 43 basis points sequentially, according to HSBC.   

Kotak Securities: Analysts at Kotak expect TCS to post flat revenues in CC terms for the international business and a $30 million decline in BSNL revenues. They estimate that the tech firm will post a 1.5 per cent growth in revenue to ₹64,963.9 crore sequentially. The tech firm will post a 2.3 per cent Q-o-Q net profit growth to ₹12,663.6 crore and will see a 1.6 per cent Y-o-Y growth in the March quarter, according to Kotak.  

The benefit of rupee depreciation will be eaten away by promotions and investments in business, resulting in disappointing margin performance, Kotak said. They expect steady deal wins of $11 billion, a decline from $13.2 billion last year. “Focus will be on reasons for the struggle for growth in international business, which has been insipid due to ramp-downs and modest deal wins.”

Nuvama Institutional Equities: The brokerage expects TCS to post a 0.2 per cent Q-o-Q decline in CC revenue growth and a 1 per cent Q-o-Q decline in USD decline due to a ramp-down in the BSNL project, which will be offset by a strong rebound in developed markets. Margin will remain flat sequentially as BSNL tailwinds will come with a lag. Analysts at Nuvama expect deal wins to be stable.

TCS will likely post 0.9 per cent sequential growth in revenue to ₹61,237 crore, according to Nuvama. They expect the Y-o-Y growth to be about 5.4 per cent. Meanwhile, the tech major will post a  1.5 per cent sequential growth in profit during the March quarter, with the Y-o-Y growth expected at 1.1 per cent. “We will watch out for outlook on US macro amid the tariff uncertainty and margin recovery trajectory.

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Jaguar Land Rover India on Thursday reported the best-ever performance in a fiscal with retail sales of 6,183 units in FY25, a growth of 40 per cent over FY24.

Dispatches to dealers rose 39 per cent year-on-year to 6,266 units last fiscal.

Jaguar Land Rover (JLR) India said retail and wholesales in the fourth quarter increased to highest ever level at 1,793 and 1,710 units, respectively, registering an annul growth of 110 per cent and 118 per cent in the two respective sales figures.

Last fiscal, Defender was the highest selling model for the company logging a growth of 90 per cent, followed by locally-manufactured Range Rover and Range Rover Sport at 72 and 42 per cent, respectively, the automaker said.

“The company has outpaced the luxury car industry with retail and wholesale growth of around 40 per cent in the current year on the back of 81 per cent year-on-year growth in FY24,” JLR India Managing Director Rajan Amba stated.

The success is a testimony to the company’s strong brands, a focus on ‘customer love’ and a product portfolio with unparalleled design, unmatched capability and impeccable luxury, he added.

“Our locally-manufactured Range Rover and Range Rover Sport have been a key driver of this growth, while Defender continues to sustain its leadership position in its category,” Amba said.

The constant support from the company’s retail partners and the commitment of JLR teams in India and the UK have been instrumental in driving this growth story, he added.

“We’re committed to continuing this momentum in FY26, driven by curated product offerings and exceptional client experience,” Amba said.

With a strong performance in FY25, JLR India said it has successfully established its Range Rover and Defender brands as one of the most desirable luxury SUVs for the discerning clientele.

The company’s ‘House of Brands’ strategy has resonated strongly with high-end consumers, solidifying its position further in the high-net-worth segment, it added.

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