METEN: BUY NATGASMINI 27MAY2025 ABV 288.50 TGT 324. SL BELOW 271 CMP: 288.50.

INTRAMETEN: ONCE BOOK AND EXIT LONG IN NATGASMINI 27MAY2025 AS SL HIT AT 285, LOSS RS.1,625.

Meet the Speaker: Mr. Sudipto Datta
at the 7th Annual Convention on Capital Market & Commodity Market - FINANCIAL MARKETS:
LEADING THE WAY TO VIKSIT BHARAT
on April 30, 2025 at PHD House, New Delhi (6pm-7pm)
Register here: https://tinyurl.com/2tcj65nk
#phdcci #commoditymarket

INTRAMETEN: ONCE BOOK AND EXIT LONG IN NATURALGAS 27MAY2025 AT 283.80, BOOK LOSS RS.9,000.

INTRAMETEN: ONCE BOOK AND EXIT LONG IN ALUMINIUM 30MAY2025 AT 235.80, ON COST AS PRICES GETTING RESISTANCE.

INTRAMETEN: ONCE BOOK AND EXIT LONG IN ALUMINI 30MAY2025 AT 235.90, BOOK LOSS RS.400.

INTRAMETEN: ONCE BOOK AND EXIT LONG IN COPPER 30MAY2025 AT 855.20, BOOK LOSS RS.750.

INTRAMETEN: SELL ALUMINIUM 30MAY2025 BELOW 235.70 TGT 234. SL ABV 237.20 CMP: 235.70.

INTRAMETEN: ONCE BOOK AND EXIT SHORT IN ALUMINIUM 30MAY2025 AT 236.30, BOOK LOSS RS. 3,000.

INTRAMETEN: ONCE BOOK AND EXIT SHORT IN GOLDM 05JUN2025 AT 95,390, ON COST AS PRICES GETTING SUPPORT.

INTRAMETEN: SELL SILVERM 30JUN2025 BELOW 97,880 TGT 96,800. SL ABV 98,500 CMP: 97,880.

INTRAMETEN: ONCE BOOK AND EXIT SHORT IN SILVERM 30JUN2025 AT 98,230, BOOK LOSS RS. 1,750.

Securities in F&O Ban for Trade Dated 30-April-2025
👉Click here to read the circular: https://bit.ly/3GCBtNc

👉Open your Free #Demat & #Trading Account Today! Visit: https://bit.ly/3vMUIhb
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May this auspicious day of #AkshayaTritiya bring you prosperity and good luck.
#AkshayaTritiya2025

WHAT TO WATCH:
• Indian Buyers Balk at Soaring Gold Prices During Festive Season
• StanChart Says Clarity on India’s Green Rules Will Boost Deals
• IndusInd Bank CEO Quits Over $230 Million Accounting Lapse
o IndusInd Gets RBI Approval to Create ‘Committee of Executives’
• BRICS Rift Emerges in Rio as New Members Balk at Past Agreements
• India, US Eye ‘Early Mutual Wins’ in Bilateral Trade Talks
• India’s Military to Decide on Response to Killings, Report Says
• Pakistan Says It Shot Down an Indian Spy Drone in Kashmir
• INDIA CREDIT DAYBOOK: Five Issuers to Tap Bonds as Yields Fall
• Trent Gets Price Target Upgrades at Citi, Jefferies on 4Q Beat
• BPCL 4Q Operating Profit Beat Boosts Outlook: Analysts
• Global Trade Woes May Hit Supplies, Stoke Inflation, India Says
• China Has No Plans to Dump Goods in India, Ambassador Says
• Modi Congratulates Carney on Election Win as Tensions Ease
• Russia’s Oil Exports Edge Higher With Return of Sanctioned Ships
• OIL TENDER: India’s HPCL Buys Nigerian Qua Iboe and Bonga Crude
• India’s Biggest Bank Plans Fund Raising Via Share Sale This Year
• Unilever, Reliance See Signs of Consumer Demand Revival in India
• Emerging-Market Assets Rise on Optimism of US Trade War Detente
• India Plans to Highlight Boeing Order Pipeline in US Trade Talks
• Indian Stocks Flat as Traders Assess Tensions With Pakistan
• Indian Oil’s Profit to Plunge as Margins, Sales Wilt: Preview
• Tata Technologies, Exide Industries See Short Buildup in Futures
• Bajaj Finance, Eternal, HCL Tech, ITC Ltd, ONGC: Vol Dispersion
• Overseas Investors Buy Net INR25.1B of Indian Equities April 28
• Trump Bashes Powell, Touts Tariffs at Rally Marking 100 Days
• Trump Says China to ‘Eat’ Tariffs, Reducing Consumer Impact
• Xi Is Trying to Turn World Against US as Trump Cuts Deals
• Oil Set for Historic April Selloff as Trade War Darkens Outlook
• Gold Holds Drop as Haven Demand Ebbs on Easing Trade Tension
• Asian Stocks Rise With Earnings, GDP Data in Focus: Markets Wrap

BLOOMBERG INTELLIGENCE:
• India’s Water-Pact Halt Would Have Muted Impact on Pakistan
• India Flight Impact Limited If Kashmir Tensions Contained: React
• Apple’s India iPhone Shift Could Face China, Rollout Obstacles
• 2Q25 Outlook: India’s Dollar Bond Strategy
• Three Keys for 2Q: India Dollar Bonds Strategy
• ICICI Bank’s Solid Buffers Shine as Tariffs Bite: Credit Outlook
• 100 Days of Trump, China Exports, India’s Water Threat: Eco Wrap

MEDIA REPORTS:
• India Front Pages: Economic Times, Mint, Standard for April 30
• JSW MG Motor India Seeks to Raise Up to $350m: ET
• New US Policy For Terminating Foreign Students’ Legal Status: AP
• India steps up economic pressure on Pakistan, seeks to block third-country trade: Mint
• Pvt sector capex likely to dip 25% to INR4.88T in FY26, Govt survey: PTI
• TRAI issues pre-discussion paper on review of tariff for domestic leased circuits: PTI
• India’s Military to Decide on Response to Killings, Report Says

EARNINGS (net income adj. ests. in INR where available):
• Adani Power Ltd. (ADANI IN) 4Q
• Ajanta Pharma Ltd. (AJP IN) 4Q 2.29b (9)
• Bandhan Bank Ltd. (BANDHAN IN) 4Q 4.67b (14)
• Coromandel International Ltd. (CRIN IN) 4Q 2.79b (10)
• Crisil Ltd. (CRISIL IN) 1Q 1.77b (2)
• Equitas Small Finance Bank Ltd. (EQUITASB IN) 4Q 760m (13)
• Exide Industries Ltd. (EXID IN) 4Q 2.82b (11)
• Federal Bank Ltd. (FB IN) 4Q 9.64b (20)
• Godrej Agrovet Ltd. (GOAGRO IN) 4Q 734m (4)
• Indian Oil Corp. (IOCL IN) 4Q 14.7b (7)
• Indus Towers Ltd. (INDUSTOW IN) 4Q 17.5b (11)
• JSW Infrastructure Ltd. (JSWINFRA IN) 4Q 3.64b (7)
• Jindal Steel & Power Ltd. (JSP IN) 4Q 10.8b (14)
• Moil Ltd. (MOIL IN) 4Q 772m (2)
• Phoenix Mills Ltd. (PHNX IN) 4Q 2.93b (7)
• Sona Blw Precision Forgings (SONACOMS IN) 4Q
• Sundram Fasteners Ltd. (SF IN) 4Q
• Ujjivan Small Finance Bank Ltd. (UJJIVANS IN) 4Q 1.43b (11)
• Varun Beverages Ltd. (VBL IN) 1Q 7.41b (7)
• Vedanta Ltd. (VEDL IN) 4Q 34.6b (6)

ECONOMIC DATA (All times India Time):
• April 30: March Bank Credit YoY; prior 11.0%

GOVERNMENT (All times India Time):
• 10am: New Delhi. National Archives of India under Ministry of Culture and Vani Prakashan will publish a book ‘Ramanujan: Journey of a Great Mathematician’
• 11am: India’s federal cabinet to meet

BOND SALES/PURCHASES (All times India Time):
• Govt to sell INR90b of 91-day, INR50b of 182-day and INR50b of 364-day T-bills in auctions
• RBI to conduct INR500B of daily variable rate repo auctions

CORPORATE BONDS:
• Aseem Infra Finance Plans to Sell Up to INR1b 5Y Bond April 30
• Bajaj Housing Finance Plans to Sell Up to INR15b Bond April 30
• India’s Hudco Plans to Sell Up to INR30b 5Y Bond May 2
• ICICI Home Finance Plans to Sell Up to INR5b 5Y Bond April 30
• Ireda Plans to Sell Up to INR15b May 2030 Bond on May 2
• Muthoot Finance to Sell INR6.75b 5Y Bond at 8.20% on April 30
• Nexus Select Trust to Sell INR5.5b 7Y Bond at 7.19% on May 2
• India’s NHPC Plans to Sell Up to INR20b 15Y Bond May 2
• Tata Capital Plans to Sell Up to INR25b Bond April 30

CORPORATE EVENTS:
• 10:30am: Schaeffler India conference call to discuss on 1Q 2025 results
• 11am: Shoppers Stop hosts conference call on 4Q FY25 results
• 12 noon. Bajaj Fineserv hosts conference call to discuss on 4Q FY25 earnings
• 12 noon. Praj Industries hosts conference call to discuss on 4Q FY25 results
• 2:30pm: Indian Oil Corp. chairman to address media on 4Q FY25 earnings
• 2:30pm: Varun Beverages hosts conference call on 1Q 2025 results
• 4pn: Bandhan Bank hosts conference call on 4Q FY25 earnings
• 4:30pm: Ajanta Pharma hosts conference call on 4Q FY25 results
• 4:30pm: Equitas Small Finance Bank conference call 4Q FY25 results
• 5pm: Vedanta hosts conference call on 4Q FY25 earnings
• 5:30pm: Federal Bank hosts conference call on 4Q FY25 earnings
• Bank of India to mull raising of Capital via issue of Basel III Compliant AT-1 & Tier II Bonds
• Indus Tower board meet to mull dividend, bonus, buyback
• Annual General Meetings: CIEINDIA IN, CRISIL IN, EBECK IN, HEXT IN
• Other Shareholder Events: IIL IN, SANM IN, SBJA IN
• Earnings Calls: AURUM IN, CAPITALS IN, CEAT IN, CIEINDIA IN, FIDEL IN, FIVESTAR IN, GOCOLORS IN, GRV IN, INDOSTAR IN, JAYBEE IN, NBGL IN, PJSB IN, SKIPPER IN, SONACOMS IN, STARHEAL IN, UJJIVANS IN, UTIAM IN

OFFERINGS:
• Ather Energy’s India IPO gets 0.28x shares demand on second day of sale
• SEBI Approves IPO Plan of Travel Food Services

ANALYST ACTIONS:
• Bajaj Finance Cut to Neutral at Citi; PT 9,830 rupees
• Cholamandalam Cut to Hold at Edelweiss Professional Investor
o Rated New Buy at ULJK; PT 1,745 rupees
• Greenply Cut to Hold at BOB Capital Markets; PT 345 rupees
• IndiaMart Cut to Hold at Anand Rathi Securities; PT 2,550 rupees
• KPIT Technologies Raised to Buy at Phillip Secs; PT 1,450 rupees
• Kfin Technologies Cut to Reduce at Equirus Securities Pvt Ltd
• MRPL Cut to Reduce at YES Research; PT 124 rupees
• Oil India Affirmed at BBB- by Fitch
• Prestige Estates Raised to Equal-Weight at Morgan Stanley
• PCBL IN Raised to Buy at Stewart & Mackertich Wealth Mgmt Ltd
• Reliance Raised to Add at Equirus Securities Pvt Ltd
• Rossari Biotech Raised to Add at ICICI Securities; PT 740 rupees
• UltraTech Cement Cut to Add at Centrum Broking; PT 13,162 rupees

MARKETS:
• S&P 500 up 0.6% at 5,560.83
• STOXX Europe 600 up 0.4% at 525.09
• MSCI Asia Pacific Index up 0.1% at 185.59
• Gold spot down 0.2% at $3,310.81/Oz;
• Brent Futures down 0.1% at $64.18/bbl
• Sensex little changed at 80,288.38
• Nifty little changed at 24,335.95
• GIFT Nifty May futures down 0.4% at 24,375.5
• INR down 0.3% at 85.255 per USD on April 29
• Yield on 6.79% bonds maturing Oct. 7, 2034 down 5bps at 6.34%
• Rupee Bonds in Focus Amid INR190b T-bill Auction: Inside India

EQUITY PREVIEW:
• India Stocks to Watch: Bajaj Finance, BPCL, IndusInd, V-Mart
• Ambuja Cement (ACEM): 4Q Net Income 9.29B Rupees
• Bajaj Finance (BAF): 4Q Net Income +17% Y/y to 44.8b rupees, Meets Est.
o To give four bonus share for each held, split each share into two
• Bharat Petroleum (BPCL): 4Q Net Income -24% Y/y to 32.1b, Beats Est. 25.25b
• Ceat (CEAT): 4Q Net Income Misses Estimates
• CIE Automotive (CIEINDIA): 1Q Net Income Beats Estimates
• Indian Oil Corp. (IOCL): Buys 3M Bbl of Murban for July: OIL TENDER
• IndiaMart InterMesh (INMART): 4Q Net Income +82% Y/y to 1.81b, Beats Est. 1.2b
• IndusInd Bank (IIB): Says CEO Kathpalia Resigns After Accounting Discrepancy
• Punjab & Sind Bank (PJSB): Punjab & Sind Bank 4Q Net Income 3.13B Rupees
• Shoppers Stop (SHOP): 4Q Net Income Misses Estimates
• State Bank Of India (SBIN): Board meet on May 3, to mull proposal for raising equity in FY26 via FPO, rights issue, QIP
• Trent (TRENT): 4Q Net Income -47% Y/y to 3.49b rupees, Beats Est.3.03b
• Bajaj Finserv (BJFIN): 4Q Net Income 24.2B Rupees Vs. 21.2B Rupees Y/y
• UTI AMC (UTIAM): 4Q Net Income Misses Estimates

Source: Bloomberg

Global News, Views, and Updates

US Stock Futures Drop with Tech Earnings in Focus
A six-day rally in US stocks looks set to pause as equity-index futures decline following disappointing earnings from Super Micro Computer Inc. Contracts for the S&P 500 and the Nasdaq 100 indexes fell at least 0.5% in Asian trading as Super Micro tumbled in after-market hours, ahead of earnings from mega cap companies such as Microsoft Corp. and Meta Platforms Inc. Asian shares pared earlier gains. Treasuries extended this month’s advance, with 10-year yields falling for a seventh day. The dollar and gold were little changed. The global stock rally faces a key test Wednesday when the US releases inflation and gross-domestic-product data that will give investors more information on how the economy was faring just before President Donald Trump announced country-specific levies on April 2. In recent weeks, investors have been cautiously optimistic after some recent tariff reprieves and speculation the Federal Reserve will cut interest rates to prevent a recession.

Chinese Manufacturing Shrinks Most Since 2023 as US Tariffs Hit
China’s factory activity slipped into the worst contraction since December 2023, revealing early damage to the world’s second-biggest economy from the trade war with the US. The official manufacturing purchasing managers’ index was 49 compared with 50.5 in March, the National Bureau of Statistics said Wednesday. That was lower than the median forecast of 49.7 by economists. Any number below 50 points to a contraction. The non-manufacturing measure of activity in construction and services fell to 50.4 from 50.8 last month. That compares with a forecast of 50.6. The onshore stock benchmark CSI 300 Index was little changed. The latest PMI readings offer the first official look at the health of China’s economy after the Trump administration imposed sweeping tariffs of 145% on Chinese products, a level expected to hurt a sector that contributed to nearly a third of the economy’s growth last year.

Trump Bashes Powell, Touts Tariffs at Rally Marking 100 Days
• President Trump criticized Federal Reserve Chairman Jerome Powell, saying he's "not really doing a good job" and that Trump knows more about interest rates than Powell does.
• Trump defended his economic policies, including tariffs, which he claims will inspire economic growth and lure manufacturers back to the US, despite polls showing voters are wary of his agenda.
• Trump signed directives easing some planned tariffs, including a two-year reduction in auto parts levies, and warned automakers that they need to move their manufacturing back to the US or face consequences.

Oil Set for Historic April Selloff as Trade War Darkens Outlook
Oil headed for the worst April performance on record on signs that the US-led trade war is hurting economic growth and energy demand at a time when the OPEC+ alliance has been loosening supply curbs. Global benchmark Brent which held near $64 a barrel has slumped by about 14% this month, the largest loss for that period since the contract started trading in 1988. West Texas Intermediate was near $60 a barrel. Data later on Wednesday may confirm a slowdown in US economic growth, after figures showed that consumer confidence collapsed to an almost five-year low. In Asia, a release from China showed factory activity slipped into the worst contraction since December 2023, revealing early damage from the trade war.

Chinese Solar Losses Deepen Even Before Worst of Trump Tariffs
Chinese solar manufacturers continue to plunge deeper into the red, and the outlook is getting gloomier as sky-high tariffs on exports threaten to compound domestic oversupply. Five of the biggest names in the industry JA Solar Technology Co., Jinko Solar Co., Longi Green Energy Technology Co., Tongwei Co. and Trina Solar Co. published first-quarter earnings overnight, racking up over 8 billion yuan ($1.1 billion) in losses between them. Their combined loss last year was less than 2 billion yuan, when two of the companies were still profitable.

Source: Bloomberg