WEEKLY TRENDSETTER (MAY 2,2025)
| 2025 | APRIL 17 | APRIL 25 | Ch % |
| NIFTY | 23851 | 24039 | +0.79 |
| BANK NIFTY | 54290 | 54664 | +0.69 |
| USD/INR | 86.19 | 85.40 | -0.92 |
MARKET REVIEW-The momentum in the market was intact till mid-week before a dastardly terrorist attack on Indian tourists marred sentiments and finally on the first day of the new May series, a sharp sell off saw Nifty dip below 24000 before some recovery. Though the market closed with gains for the week, the uncertainty created by the event could keep the uptrend under check.
BACK TO RESULT SEASON
March quarter results are trickling in. Let’s explore some of them to get cues of where the stocks could be heading.
Rs in cr, Bracket indicates ch in % against March,24 quarter.
| Company | Revenue | Net profit |
| Cyient DLM | 340(-6) | 35(+52) |
| Mahindra Log | 1570(+8) | -5(-8) |
| Refex Inds | 628(+83) | 48(+45) |
| Just Dial | 289(+7) | 158(+36) |
Cyient DLM (461) – The company has been a trusted electronics and mechanical manufacturing partner and systems supplier to some of the largest players across multiple industries. As an in integrated manufacturing partner that provides Design Led Manufacturing (DLM) solutions to customers, the company ensures that customers’ products meet robust standards in reliability, safety, and performance. The tariff impact by the US is supposed to have seen a surge in enquiries as US is actively de-risking China. The company came out with an impressive set of numbers for the March quarter. The company saw the highest EBIDTA margin of 13.4% till now for the quarter. and posted an EPS of 3.9 for the quarter. The stock has seen a sharp correction from 870 to 350 before some recovery.Undertone remains uncertain despite bright prospects for the company.
Mahindra Logistics (303)-The company is a leading player with 22 mn square ft of warehousing space,18000 +vehicles deployed and 400 +client and operating locations. While the company has been on a consolidating phase, losses have considerably narrowed down in the last few quarters. It is already cash positive which should enable it to reinvest for further growth. The stock has been an underperformer for several years, it certainly has the potential to vindicate the faith of investors.
JustDial (923)– The company is India’s no 1 search engine with user engagements increasing steadily. The search is across 5.9cr products and services. It has been growing from strength to strength over the last few years. With a strong management in place and also with a strong promoter (Reliance Inds) the company looks poised for better times. With an EPS of Rs 70 for FY 25, current level of the scrip looks attractive.
Refex Inds (446) -The company has built a diverse portfolio encompassing ash & coal Handling, eco-friendly refrigerant gases, and green mobility initiatives. The company has forayed into electric mobility through its subsidiary, Refex Green Mobility Limited offering electric vehicle (EV) services for passenger mobility, addressing corporate transportation needs and B2B2C use cases with fourwheeler EVs.
The company is a prominent player in the ash disposal sector, mitigating the environmental pollution caused by the combustion of coal in thermal power plants. They employ advanced technologies for safe ash collection, transportation, and disposal.92% of the revenue is derived from this segment and witnessed surge in volumes. With an EPS of Rs 13 for FY 25, stock looks stretched. Investor appetite is high for the scrip and lower levels of around 300-350 would be attractive.
NIFTY –The index got another event to keep it volatile in the coming weeks as well. VIX has been on a steady uptrend. While in the near term 24360 will act as a resistance with triple tops, support should emerge around 23500.
BANK NIFTY-The index touched a life time high of 56098 in the beginning of the week. However, momentum slackened on the back of profit-booking. For technical purists the “gap “between 51244 and 51863 will continue to haunt them, on the higher side levels beyond 55500 could see profit -taking. In the near term 53500 would act as a support.
STOCK PICKS
With a sharp spike in volatility the option route could be explored in the coming week which will also be truncated (May 1 holiday).
NIFTY-The index could see resistance around 24300. Accordingly, a 23000-strike put (May 8 expiry) could be bought around levels of 50-60 for a possible target of 100 and stop-loss of 25.
Wishing all readers a great week ahead!
Note: Any queries /clarifications may be addressed to stockmasala@gmail.com .
Krish Subramanyam