Indian equity indices closed lower on 16th May, with the NIFTY hovering around 25,000. The Sensex declined by 200.15 points (0.24%) to 82,330.59, while the NIFTY fell 42.30 points (0.17%) to 25,019.80. Despite this dip, investor sentiment remained positive, with continued momentum in mid- and small-cap stocks. Defence stocks maintained their upward trajectory, bolstered by strong sectoral prospects.
Market optimism is being driven by anticipated resolutions in US-China and India-US trade relations. Further confidence stems from softening crude oil prices, moderating inflation and growing expectations of interest rate cuts, all supporting a positive economic growth outlook. Both, the Nifty-50 and Sensex-30, recorded weekly gains, supported by robust flows from foreign institutional investors (FIIs) as well as domestic institutional investors (DIIs). Global equities extended their relief rally this week, following the reduction of US tariffs after trade agreements with the UK and China.
India's retail inflation reached a 69-month low of 3.16% in April, well below the central bank's 4% target, primarily due to declining food inflation which hit its lowest level in 42 months. This inflation moderation could provide room for the third consecutive interest rate cut by the Reserve Bank of India (RBI) to stimulate economic growth. Meanwhile, capital expenditure (capex) by major Indian Central public sector enterprises (PSEs) and key government agencies is expected to remain stable at approximately Rs7.8 lakh crore (US$93.6bn -- billion) this fiscal year, reflecting the government's commitment to maintaining investment momentum crucial for economic growth. The trends of the major indices in the course of the week's trading are given in the table below:
News
India's unemployment rate stood at 5.1% in April, according to the government's latest data, - the first monthly report of its kind. This figure is comparable to the 5.2% recorded in the previous month, based on a different methodology. The new monthly data collection aims to provide a more frequent picture of the country's employment landscape.
India's two-wheeler (2W) market experienced a notable downturn in April, with total domestic sales dropping by 13% year-on-year (y-o-y). This decline was particularly sharp for market leaders like Hero MotoCorp, Honda Motorcycle & Scooter India and Bajaj Auto, who reported double-digit de-growth. The poor performance is primarily attributed to a high base effect from April 2024 and a temporary production halt by a major player.
India's merchandise exports hit a six-month high growth of 9.03% in April, reaching US$38.49bn. However, a sharper surge in imports, rising by 19.12% to US$64.89bn, led to a widening trade deficit of US$26.42bn, the highest since November 2024.
Lupin and Alembic received approval from the US Food and Drug Administration (US FDA) for its abbreviated new drug application (ANDA) for Rivaroxaban tablets USP. These tablets are bioequivalent to Janssen Pharmaceuticals Xarelto tablets.
Infosys, a global leader in digital services, expanded its strategic collaboration with DNB Bank ASA, Norway's largest bank. This partnership aims to accelerate DNB's digital transformation by modernising its IT landscape, improving operational efficiency and enhancing customer experience.
Cochin Shipyard Limited clarified that, while it is evaluating various opportunities for shipbuilding and ship repair aligned with government initiatives like the Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047, there is currently no material event requiring disclosure regarding any specific deal, including one with Hyundai, as reported by the media.
Shilpa Medicare's wholly-owned subsidiary, Shilpa Pharma Lifesciences Limited (SPL), received a favourable establishment inspection report (EIR) from the US FDA for its unit-1 facility.
Tata Consultancy Services (TCS) partnered with Dhofar Insurance Company (DIC), the largest insurance enterprise in Oman. DIC will implement TCS’ flagship offering, TCS BaNCS for insurance, as part of its long-term growth and transformation programme.
Piramal Pharma received an EIR from the US FDA for its Turbhe facility with VAI (voluntary action indicated). Receipt of the EIR marks successful closure of the inspection.
Adani Power won a contested bid to supply 1,500MW (megawatt) (net) of thermal power to Uttar Pradesh.
Dixon Technologies’ wholly-owned subsidiary -- Padget Electronics -- entered into a contract manufacturing agreement with NxtCell India to manufacture smartphones for the French tech brand Alcatel in the Indian market and to lead Alcatel’s ‘Make in India’ manufacturing ecosystem.
FDC recalled 60,428 bottles of Timolol Maleate ophthalmic solution, used to treat glaucoma, in the US market, due to a manufacturing issue. The company is recalling the affected lot due to ‘defective container: Unable to get the solution out of the bottle as the spike of the cap was lodged in the nozzle of the product bottle’. The drug-maker initiated the class-2 nationwide (US) recall on 18 April, 2025.
KEC International secured new orders worth Rs1,034 crore across multiple business segments.
Himadri Speciality Chemical entered into exclusive technology licensing partnership with Sicona, an Australian next-gen battery materials company. HCL Technologies signed the European Commission's artificial intelligence (AI) pact, reinforcing its commitment to the responsible development and deployment of AI technologies internally and with clients.
Zydus Lifesciences received the EIR report from the US FDA for the inspection conducted at its active pharmaceutical ingredients (API) manufacturing facility located at Ambernath (Maharashtra).
Caplin Point Laboratories’ subsidiary, Caplin Steriles, was granted final approval from the (US FDA) for its ANDA Haloperidol Decanoate injection.
Orders
ITD Cementation India secured a new contract worth around Rs593 crore including all taxes and duties but excluding GST (goods and services tax). The contract is for construction of various infrastructure works at Jaipur International Airport in Rajasthan.
LTIMindtree secured a US$450mn (million) deal with a global agri-business leader, marking its largest-ever contract. The seven-year AI-powered agreement will enhance application management, cybersecurity and infrastructure support.
Power Mech Projects secured an order worth Rs971.98 crore (excluding GST) from Telangana Power Generation Corporation (Telangana). HFCL secured a purchase order aggregating around Rs157 crore for the supply of various types of optical fiber cables for the BharatNet phase-3 project in the West Bengal telecom circle, from Tera Software, a consortium partner of ITI. The order is to be executed within three years.
KEC International has secured new orders of Rs1,034 crore across various businesses. The transmission & distribution (T&D) business has secured STATCOM project from a global original equipment manufacturer (OEM) in India and order for supply of towers, hardware and poles in the Americas.
Earnings
In Q4FY24-25, Thangamayil Jewellery’s sales increased by 40% y-o-y to Rs1,381 crore, while operating profit increased by 15% y-o-y to Rs57.4 crore and net profit increased by 11% y-o-y to Rs31.4 crore.
In Q4FY24-25, Caplin Point Lab’s sales increased by 11% y-o-y to Rs502 crore, while operating profit increased by 16% y-o-y to Rs168 crore and net profit increased by 18% y-o-y to Rs145 crore.
In Q4FY24-25, Lupin’s sales increased by 14% y-o-y to Rs5,667 crore, while operating profit increased by 33% y-o-y to Rs1,321 crore and net profit increased by 115% y-o-y to Rs782 crore.
In Q4FY24-25, Sharda Cropchem’s sales increased by 39.41% y-o-y to Rs1,828.5 crore, while operating profit increased by 19% y-o-y to Rs303 crore and net profit increased by 41.85% y-o-y to Rs203.6 crore.
In Q4FY24-25, Shree Cement’s sales increased by 2% y-o-y to Rs5,532 crore, while operating profit remained unchanged y-o-y at Rs1,429 crore and net profit decreased by 15% y-o-y to Rs575 crore.
In Q4FY24-25, Surya Roshni’s sales increased by 3% y-o-y to Rs2,146 crore, while operating profit increased by 22% y-o-y to Rs202 crore and net profit increased by 25% y-o-y to Rs130 crore.
In Q4FY24-25, Blue Jet Healthcare’s sales jumped by 85% y-o-y to Rs340 crore, while operating profit increased by 164% y-o-y to Rs140 crore and net profit increased by 3.5% y-o-y to Rs110 crore.
In Q4FY24-25, Jyothy Labs’ sales increased by 1.06% y-o-y to reach Rs667 crore, while operating profit rose by 3.22% y-o-y to Rs112 crore and et profit decreased by 2.42% y-o-y to reach Rs76.3 crore
In Q4FY24-25, PG Electroplast’s sales shot up by 77.29% y-o-y to reach Rs1,910 crore, while operating profit increased by 82.76% y-o-y to reach Rs212 crore and net profit increased by 108.48% y-o-y to Rs145 crore.
In Q4FY24-25, KRN Heat Exchanger’s sales increased by 59.76% y-o-y to Rs131 crore, while operating profit increased by 12.85% y-o-y to Rs20.2 crore and net profit increased by 11.29% y-o-y to Rs13.8 crore.
In Q4FY24-25, UPL’s sales increased by 10.62% y-o-y to Rs15,573 crore, while operating profit increased by 71.22% y-o-y to Rs3,164 crore and net profit increased by 1,448.75% y-o-y to Rs1,079 crore.
In Q4FY24-25, sales of GAIL (India) increased by 11.26% y-o-y to Rs36,442 crore, while operating profit decreased by 8.17% y-o-y to Rs3,535 crore and net profit increased by 1.29% y-o-y to Rs2,506 crore.
In Q4FY24-25, Hero MotoCorp’s sales increased by 4.00% y-o-y to Rs9,970 crore, while operating profit increased by 9.26% y-o-y to Rs1,441 crore and net profit increased by 24.00% y-o-y to Rs1,169 crore.
In Q4FY24-25, Cipla’s sales increased by 9.19% y-o-y to Rs6,730 crore, while operating profit increased by 16.87% y-o-y to Rs1,538 crore and net profit increased by 30.23% y-o-y to Rs1,214 crore.
In Q4FY24-25, Anup Engineering’s sales increased by 31.00% y-o-y to Rs205 crore, while operating profit increased by 22.99% y-o-y to Rs45.9 crore and net profit decreased by 31.86% y-o-y to Rs29.3 crore.
In Q4FY24-25, JM Financial’s sales decreased by 20.00% y-o-y to Rs1,004 crore, while operating profit decreased by 15.12% y-o-y to Rs578 crore and net profit surged by 782.34% y-o-y to Rs235 crore.
In Q4FY24-25, Apar Industries’ sales increased by 10.2% y-o-y to Rs5,210 crore, while operating profit increased by 7.5% y-o-y to Rs458 crore and net profit increased by 5.9% y-o-y to Rs250 crore.
In Q4FY24-25, Berger Paints’ sales increased by 5.4% y-o-y to Rs2,510 crore, while operating profit increased by 3.2% y-o-y to Rs480 crore and net profit increased by 2.1% y-o-y to Rs310 crore.
In Q4FY24-25, Garware Hi-Tech’s sales increased by 23% y-o-y to Rs548 crore, while operating profit increased by 34% y-o-y to Rs78 crore and net profit increased by 35% y-o-y to Rs35 crore.
In Q4FY24-25, Tilaknagar Industries’ sales increased by 13% y-o-y to Rs406 crore, while operating profit increased by 63% y-o-y to Rs78.4 crore and net profit increased by 96% y-o-y to Rs77.4 crore.
In Q4FY24-25, Piramal Pharma’s sales increased by 8% y-o-y to Rs2,754 crore, while operating profit increased by 6% y-o-y to Rs561 crore and net profit increased by 34% y-o-y to Rs154 crore.
In Q4FY24-25, BLS E-Services’ sales increased by 225% y-o-y to Rs239 crore, while operating profit increased by 78% y-o-y to Rs19.4 crore and net profit increased by 28% y-o-y to Rs17.3 crore.
In Q4FY24-25, Sagility India’s sales increased by 22% y-o-y to Rs1,568 crore, while operating profit increased by 21% y-o-y to Rs373 crore and net profit increased by 128% y-o-y to Rs183 crore.
Top gainers and losers of the major indices for the week are given in the table below:
