Author: Eqwires

Shares of paints, chemicals and aviation companies were trading in the green today after brent crude oil prices fell to their four-year low. Brent crude oil prices declined to their lowest level today since January 2021. Brent crude oil slipped to $69.4 per barrel, boosting sentiment around paints, chemicals and aviation stocks. Meanwhile, the price of the main US crude contract, fell four percent to $65.53.

Crude oil and crude oil derivatives are key raw materials used in the paints, chemicals and aviation industries.

Here’s a look at stocks that majorly benefited from the fall in crude prices in today’s session.

Paints stocks

Shares of market leader Asian Paints Ltd rose 4.5% intraday to Rs 2,259 against the previous close of Rs 2,65.25 on BSE. The large cap stock opened higher at Rs 2192.95. Market cap of the firm climbed to Rs 2.16 lakh crore.

Berger Paints India Ltd shares climbed 3.51% intraday to Rs 501.20 against the previous close of Rs 484.20 on BSE. The large cap stock opened higher at Rs 485.05. Market cap of the firm climbed to Rs 58,259 crore.

Kansai Nerolac Paints stock too climbed 3.16% to Rs 236. The paints stock opened higher at Rs 236 today. Stock of the new entrant in the industry IndiGo Paints gained 3.23% intraday to Rs 1052.50 on BSE today. Market cap of the firm rose to Rs 4,944.46 crore.

Chemical stocks

Shares of Deepak Nitrite surged 1.5% intraday to Rs 1966 against the previous close of Rs 1,935.65. The large cap stock opened higher at Rs 1949.95 today. Stock of another specialty chemical maker NOCIL gained 5% to Rs 190 in today’s trade. It opened higher at Rs 183.35 on BSE.

Similarly, Alkyl Amines stock climbed 1.43% intraday to Rs 1700 on BSE. It opened flat at Rs 1676.90 today. Balaji Amines stock rose 3.28% to Rs 1353.55 on BSE. Market cap of the firm rose to Rs 4313 crore.

Aarti Industries stock climbed 4.52% to Rs 412 against the previous close of Rs 401.95 on BSE.

Aviation stock

Shares of InterGlobe Aviation rose nearly 2% to Rs 4,776 today amid a fall in brent crude oil price. The stock opened higher at Rs 4,776.95 today.

Meanwhile, Nifty rose for the second straight session on Thursday after closing lower for ten straight sessions. Sensex rose 493 pts to 74,223 and Nifty gained 170 pts to 22,507 in the afternoon session today.

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Shares of state-run Bharat Electronics Ltd rose on Wednesday, March 5, after the company announced an interim dividend for the financial year 2024-25.

The stock was trading 3.32% higher at ₹273.49 apiece on the National Stock Exchange (NSE) at 2:00 pm.

BEL interim dividend announced: Check record date

In an exchange filing, BEL said its Board of Directors has declared an interim dividend of ₹1.50 per share of ₹1 each fully paid up for FY25. The dividend will be paid within 30 days from the date of declaration.

The record date for the payment of the BEL interim dividend on equity shares for the current fiscal year has been fixed as March 11, 2025.

Bharat Electronics Ltd is a public sector undertaking (PSU) under the Ministry of Defence.

The company reported a 47.33% increase in its consolidated Profit after tax (PAT) to ₹1,316.06 crores in the third quarter of the current fiscal year. The net profit was ₹893.3 crore in the year-ago quarter.

Consolidated revenue from operations climbed 38.6% to ₹5,770.69 crore, as against ₹4,162.16 crore in the same period of the previous financial year.

For the nine-month period ended December 2024, BEL recorded a turnover of ₹14,173.68 crore, compared to ₹11,484.92 crore a year ago. The post-tax profit advanced 42.3% to ₹3,183.47 crore in 9M FY25, as against ₹2,236.48 cr in the corresponding period last fiscal.

The order book of the company as of January 1, 2025, stood at ₹71,100 crore.

On February 20, the company received orders worth ₹1,292 crore, including ₹1,034 crore order for the supply of software-defined radios (SDR) and Data Communication Terminals (DCT) for the Indian Coast Guard.

On February 8, BEL secured orders worth ₹962 crore, including an Electro-Optic Fire Control System (EOFCS) supply order from the Indian Navy.

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Global economy and markets are on the brink of the worst disruption since the 2007 – 08 global financial crisis, besides the Covid pandemic, believe analysts. The belief stems from the likely global trade war that could be triggered by the imposition of universal and reciprocal tariffs by the US president Donald Trump. 

US President Donald Trump, according to Nigel Green, chief executive officer of deVere Group, a global consulting firm managing nearly $12 billion in assets under management (AUM), doubled down on the most aggressive tariff policies seen since the 1940s in some respects, delivering a speech that, despite its rhetoric of economic strength, is set to cause concern through financial markets.

“The global economy and markets could now be on the brink of its most severe disruption since the 2007-08 financial crisis, besides the pandemic. This (tariff threat) is no longer just a warning, but is seemingly turning into an all-out trade war. The true extent of the fallout, however, has yet to be fully realised, especially as wider reciprocal tariffs are set to be rolled on April 2. Emerging markets, already grappling with tighter financial conditions, will be particularly vulnerable,” Green said.

The uncertainty unleashed by Trump tariffs, analysts believe, is reigning supreme now, which is weighing on the markets. In the ongoing chaotic scenario, they suggest, new news and developments can trigger wild market moves.

Thus far in calendar year 2025 (CY25), the Sensex and Nifty have slumped around 5 per cent each. From their peak levels, both these indices have cracked around 13 per cent and 14 per cent, respectively. Losses in the mid-cap (down nearly 20 per cent) and smallcap (down 23 per cent) indexes on the NSE from their peak levels have been deeper. 

That said, analysts believe it would be difficult for the US to get away unscathed from the retaliatory tariffs imposed by China, Canada and Mexico. As a result, inflation in the US will rise and the Fed will sound hawkish. 

“A sharp correction in the US stock market is likely. This will hurt Trump’s popularity and the negative wealth effect of a sharp market correction can aggravate the growth slowdown in the US. Soon the Trump regime will realise this. It is better for investors to wait and watch for the events to unfold,” said V K Vijayakumar, chief investment strategist at Geojit Financial Services. 

Purely from a market standpoint, the nervousness in the markets due to tariff uncertainty also got coupled with the emerging market versus the developed market attractiveness, China’s attractiveness amid policy changes, and tepid corporate results for the December 2024 quarter (Q4-FY25) back home. 

Foreign investors have pulled over Rs 1 trillion from the Indian equity markets in the last few months. These investors, according to Vaibhav Sanghavi, chief executive officer at ASK Hedge Solutions, kept moving flows at the margin, depending on the relative attractiveness of the investible markets. The convergence of the above-mentioned factors, he said, exacerbated the pain from FII flows perspective.

The fall in the Indian equity markets, analysts say, has made valuations relatively attractive. Fairly valued growth stocks, particularly those focused on domestic consumption like financials, telecom etc, and exports to non-US markets like segments of autos, Vijayakumar said, can be slowly accumulated for the long-term.

Stock correction till now, according to Sanghavi, is likely to sow the seeds of reasonable gains over the next 24 months. “As the large-cap valuations have turned reasonable, this correction offers for nibbling in for fresh investments,” he said.

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China has set an economic growth target of around five percent for 2025, broadly in line with analysts’ expectations.

Beijing has struggled to sustain its recovery from the pandemic, with a property sector crisis, flagging consumption and high youth unemployment weighing on growth.

In his speech to lawmakers, Premier Li Qiang vowed to make domestic demand the “main engine and anchor” of economic growth in the country but acknowledged challenges in spurring consumption.

“Domestically, the foundation for China’s sustained economic recovery and growth is not strong enough,” Li told the gathered ruling party cadres, including President Xi Jinping.

“Effective demand is weak, and consumption, in particular, is sluggish,” he added.

China will aim to create some 12 million new jobs in cities and push for two percent inflation this year, he announced.

The country will also issue 1.3 trillion yuan in ultra-long special treasury bonds this year, an increase from one trillion yuan in 2024.

And Beijing will raise its budget deficit to around four percent of its gross domestic product a rare move that analysts say will give Beijing more latitude to tackle its economic slowdown.

China will boost its defence spending by 7.2 percent in 2025, the same as last year, according to a budget report.

Beijing’s military expenditure has been rising for decades, broadly in line with economic growth, as its armed forces undergo rapid modernisation in the face of deepening strategic competition with the United States.

China’s expanding defence budget has been viewed with suspicion by Washington and regional powers such as Japan, with whom it has a territorial dispute in the East China Sea.

Beijing has also asserted its claims in the South China Sea, despite an international ruling declaring its stance baseless.

China will increase the minimum basic old-age benefits for rural and non-working urban residents by 20 yuan per person per month, the budget report said.

Basic pension benefits for retirees will also be raised “as appropriate” and elderly care services, especially in more rural areas, will be developed.

China’s rapidly ageing population has presented fresh challenges for authorities, which have long relied on its vast workforce as a driver of economic growth.

The government will also “prudently advance the reform to gradually raise” the statutory retirement age, Li said.

China announced in September that it would gradually raise the statutory retirement age, which at 60 had been among the lowest in the world.

The country will issue childcare subsidies and also “gradually” make preschool education free, Li added.

High costs especially for education and childcare and the challenging employment market are among the factors discouraging young people from becoming parents.

In addition, Li pledged stronger support for private enterprises.

“We will take solid steps to implement policies and measures designed to spur the growth of the private sector, effectively protect the lawful rights and interests of private enterprises and entrepreneurs,” Li said.

Investors have been keeping an eye out for signs of further support for the private sector, following Xi’s recent talks with Chinese tech tycoons.

Li said on Wednesday that China will encourage private enterprises with “appropriate conditions to institute and refine modern corporate systems with distinctive Chinese features”.

But analysts say a private-sector boom will only be encouraged as long as it aligns with Beijing’s strategic objectives.

During the 2010s tech giants were allowed to rapidly grow, but the Communist Party has historically been wary of runaway private sector expansion.

Li acknowledged that an “increasingly complex and severe external environment” may exert a greater impact on China in areas such as trade and technology.

“Unilateralism and protectionism are on the rise, the multilateral trading system is experiencing disruptions, and tariff barriers continue to increase,” he said.

China will “oppose hegemonism and power politics”, Li added, without referring to any countries by name.

China has clashed with the United States and other Western powers in recent years over technology, trade, human rights and other issues.

Its foreign ministry has previously used such language in response to acts by Washington that China deems a constraint on its development.

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Railways stocks were soaring higher up to 5 per cent on Tuesday after Indian Railway Catering and Tourism Corporation Ltd (IRCTC) and Indian Railway Finance Corporation Ltd (IRFC) were lifted to the status of Navratna company. With the latest addition, as many as seven listed railway PSU companies have been elevated to ‘Navratna’ status as highlighted by the Union Railway Minister.

The central government considers CPSEs, which are Miniratna I, Schedule ‘A’ and have obtained ‘excellent’ or ‘very good’ MOU rating in three of the last five years and having a composite score of 60 or above in six selected performance indicators, for the grant of Navratna status.

It has six parameters including net profit to net worth, manpower cost to total cost of production, cost of services, PBDIT to capital employed, PBIT to turnover, earning per share, inter sectoral performance. IRCTC and IRFC were the latest additions as announced on Monday. Interestingly, all seven listed companies of the Indian Railways are now upgraded to ‘navratna’ status.

Shares of Rail Vikas Nigam Ltd (RVNL) jumped 4.85 per cent to Rs 339.25 on Tuesday, with its total market capitalization nearing Rs 71,000 mark. The stock had settled at Rs 323.55 in Monday’s trading session. IRCON International Ltd rallied 4.09 per cent to Rs 146.25 on Tuesday with its total valuations close to Rs 14,000 crore mark. The stock ended at Rs 140.50 on Monday.

IDBI Capital has a ‘sell’ rating on IRCON International with a target price of Rs 143. The brokerage believes that the company reported a muted Q3 performance, below estimates with weak operating performance. Antique Stock Broking has a ‘hold’ rating on IRCON with a target price of Rs 152. However, it has given a ‘sell’ tag for RVNL with a target price of Rs 215.

Shares of IRFC gained 3.69 per cent over its previous close at Rs 111.15 to Rs 115.25 on Tuesday. The company was valued above Rs 1.5 lakh crore. RailTel Corporation of India Ltd advanced 3.08 per cent to Rs 285.75 with a total valuation close to Rs 9,200 crore. Shares of RITES Ltd rose 2.65 per cent to Rs 203.70 with a total valuations close to Rs 9,800 crore. Shares of IRCTC and Container Corporation of India Ltd (Concor) inched up a per cent each in the early trade.

IDBI Capital has a ‘buy’ rating on IRCTC with a target price of Rs 870 after the company reported a strong set of performance in the December 2024 quarter, while Prabhudas Lilladher has a ‘hold’ tag on the stock with a target price of Rs 809. Antique has a ‘hold’ on RITES as well with a target price of Rs 243 apiece.

Concor is looking towards the Varnama terminal to post growth from 4QFY25F. The rise in rail freight cost/ TEUkm dented the Ebitda margin, said InCred Equities with an ‘add’ rating on the stock with a target price of Rs 1,133. Elara Capital downgraded the Concor to ‘accumulate’ from ‘buy’ with trimmed target price of Rs 839, given challenging macro outlook.

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