View on market: Volatility persists, eagerly searching for growth
Asian markets fell on Friday as new signs showed the US economy is slowing down. Investors were also worried about legal issues linked to former President Trump’s trade policies. In Tokyo, prices for everyday goods rose quickly, creating concerns for Prime Minister Shigeru Ishiba before an important election. In the US, President Trump met with Federal Reserve Chair Jerome Powell and pushed for lower interest rates, saying current policies are hurting the economy. Despite a brief rise thanks to strong earnings from Nvidia, US stock markets lost momentum as data revealed weak consumer spending and rising unemployment. In India, markets showed some strength. After two days of losses, key stock indexes rose, supported by gains in banking and pharmaceutical companies. Overall, while there were some positive signs in earnings, investors were cautious due to signs of economic slowdown, rising prices in Asia, and political pressure on US financial policies. Global markets are showing mixed signals, with many waiting for more clarity.
Key Q4FY25 Financial Results for Today
AARNAV, ABHISHEK, ACTIVE, ADARSH, ADITYA, ADSL, ANJANIFOODS, APIL, APOLLOHOSP, AQFINTECH, ARIHANTINS, ASHAPURMIN, BAJAJHLDNG, BCCL, BISIL, DEL, DRONACHRYA, EASTINDIA, GENUSPOWER, GFLLIMITED, IPOWER, ITL, KEL, MCLTD, NAHARINDUS.
Economic Calendar:
- • USD: Fed’s Balance Sheet on 30th May 2025.
• IND: Foreign Reserves, USD on 30th May 2025.
• USD: S&P Global Manufacturing PMI (May) on 02nd June 2025.
• IND: GDP Quarterly (YoY) on 30th May 2025.
IPO Watch:
| Company | Open | Close | Price | View |
| Scoda Tubes Limited | May 28 | May 30 | 130-140 | Apply |
Brokerage Radar:
JEFFERIES ON BAJAJ AUTO:
Maintain Hold; Hike target price to Rs 8,000 from Rs 7,750, Decent Q4 led by better average selling price, Remain positive on the growth outlook for both domestic & export 2Ws, Concerned about the market share dip in domestic motorcycles and decline in volume share in India’s 2W exports.
CLSA ON PRESTIGE ESTATES:
Maintain Outperform with target price of Rs 2,380, Stage set for strong FY26, Q1FY26 is likely to see strong presales of Rs 9000-10000 crore, This allays concerns over the miss on FY25 guidance.
JPMORGAN ON GODREJ CONSUMER:
Maintain Overweight with target price of Rs 1,365, Household Insecticides growth trajectory should improve over the medium term, Air care and Hair Colour have a long runway of healthy growth.
JEFFERIES ON ADANI GROUP:
FY25 was the year of consolidation for Adani Group with EBITDA growing 14% year-on-year (5yr CAGR: 25%+), Group leverage inched up slightly as capex accelerated across entities, Raised $2bn in equity and more recently completed $750mn bond raise.
International Markets:
U.S & Europe:
| Particulars | 29th May | Chg. | Chg.(%) |
| Nasdaq | 19,175.87 | 74.93 | 0.39 |
| Dow | 42,215.73 | 117.03 | 0.28 |
| FTSE | 8,716.45 | -9.56 | -0.11 |
| CAC | 7,779.72 | -8.38 | -0.11 |
| DAX | 23,933.23 | -104.96 | -0.44 |
| Dow Fut.* | 42,193.02 | -22.71 | -0.05 |
*As per 30th May.
Asian markets:
| Particulars | 30th May | Chg. | Chg.(%) |
| GIFT Nifty | 24,949.50 | 6.70 | 0.03 |
| Nikkei | 37,890.86 | -542.12 | -1.41 |
| Straits Times | 3,903.57 | -13.27 | -0.34 |
| Hang Seng | 23,196.99 | -376.39 | -1.60 |
| Shanghai | 3,343.49 | -19.96 | -0.59 |
Stocks strong on Chart:
| Index | F&O | Cash |
| POWERGRID | IRFC | RALLIS INDIA |
| JIOFIN | IREDA | CEAT |
| RIL | INOXWIND | BEML |
| WIPRO | NBCC | MAX ESTATE |
| BEL | PFC | NIPPON AMC |
| HDFCBANK | RECLTD | MINDACORP |
Commodities & Currency:
| Particulars | Current Price | Chg.(%) |
| USD/INR | 85.325 | -0.08 |
| Brent | 63 | -0.55 |
| Gold | 95,450 | 0.06 |
| Silver | 97,810 | -0.02 |
FIIs & DIIs:
| Particulars | 29th May | 28th May |
| FIIs | 884.03 | 4,662.92 |
| DIIs | 4,286.50 | 7,911.99 |
News Updates:
| NLC: | Has entered into an agreement with Mahatma Phule Renewable Energy and Infrastructure Technology Ltd. to establish a joint venture focused on green energy initiatives. |
| Rail Vikas Nigam: | It is in memorandum of understanding with Texmaco Rail to establish a framework for collaboration in the railway sector. |
| Wipro: | The company unveiled its Global Wipro Innovation Network to accelerate co-innovation with clients. |
Source: Moneycontrol, Bloomberg Quint, Investing
Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 214
Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India. (SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Vindhyachal Prasad, Elite Wealth Limited, vindhyachal@elitestock.com
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
- all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
- No part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale. Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone: 011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
- Reports
- a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
- EWL or its associates or relatives, have no actual/beneficial ownership of one %. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
- EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
-
- Compensation
- EWL or its associates have not received any compensation from the subject company in the past twelve months;
- EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
- EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
- EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
- EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research
- In respect of Public Appearances
- EWL or its associates have not received any compensation from the subject company in the past twelve months;
- The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL