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At 10:30 IST, the barometer index, the S&P BSE Sensex, rallied 460.03 points or 0.57% to 80,962.02. The Nifty 50 index rose 167.70 points or 0.69% to 24,514.40.
In the broader market, the S&P BSE Mid-Cap index rose 1.08% and the S&P BSE Small-Cap index added 0.88%.
The market breadth was strong. On the BSE, 2,383 shares rose and 1,163 shares fell. A total of 223 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 1.15% to 18.47.
Economy:
India’s foreign exchange reserves (Forex) rose by USD 1.983 billion to USD 688.129 billion in the week that ended on April 25, extending gains for the eighth straight week, official data released by the Reserve Bank of India (RBI) this week showed.
The RBI data shows that foreign currency assets (FCAs) witnessed an uptick of USD 2.168 billion reaching at USD 580.663 billion.
In the reported week, the gold reserves with the RBI declined by USD 207 million, standing at USD 84.365 billion.
The Special Drawing Rights (SDRs), which are kept with the International Monetary Fund (IMF), witnessed a rise reaching USD 18.589 billion, up USD 21 million in the reporting week.
India’s foreign exchange reserves rose USD 8.310 billion to USD 686.145 billion in the week that ended on April 18.
Earnings Today:
Mahindra & Mahindra (up 1.35%), Indian Hotels Company (up 1.56%), Coforge (up 1.39%), Bombay Dyeing & Manufacturing Company (up 1.34%), DCM Shriram (up 2%), Computer Age Management Services (down 0.76%), CCL Products (up 0.33%), Capri Global Capital (up 3.27%), Cigniti Technologies (up 0.94%), Ethos (up 1.08%), Jammu & Kashmir Bank (up 1.39%), Unicommerce Esolutions (up 3.05%) and Zee Media Corporation (down 0.50%) will declare their result later today.
Buzzing Index:
The Nifty Oil & Gas index jumped 1.31% to 11,408.80. The index advanced 2.05% in the two consecutive trading sessions.
Hindustan Petroleum Corporation (up 4.97%), Bharat Petroleum Corporation (up 4.21%), Indraprastha Gas (up 3.95%), Adani Total Gas (up 3.81%), Indian Oil Corporation (up 3.63%), Castrol India (up 2.27%), Aegis Logistics (up 2.15%), Gujarat Gas (up 1.97%), Gujarat State Petronet (up 1.60%) and Mahanagar Gas (up 1.58%) advanced.
On the other hand, Oil & Natural Gas Corpn (down 1.9%), Oil India (down 1.41%) and GAIL (India) (down 1%) edged lower.
Stocks in Spotlight:
Avenue Supermarts (Dmart) declined 2.66% after the company’s consolidated net profit fell 2.19% to Rs 550.90 crore in Q4 FY25 as compared with Rs 563.25 crore in Q4 FY24. Revenue from operations jumped 16.86% YoY to Rs 14,871.86 crore during the quarter ended 31st March 2025.
Marico rallied 3.70% after the company reported a 7.86% jump in consolidated net profit to Rs 343 crore in Q4 FY25 as compared with Rs 318 crore in Q4 FY24. Revenue from operations increased 19.84% to Rs 2,730 crore during the quarter as compared with Rs 2,278 crore in Q4 FY24.
City Union Bank added 1.93% after the private sector bank's net profit rallied 13% to Rs 288 crore on 15% jump in total income to Rs 1,784 crore in Q4 FY25 over Q4 FY24.
Net interest income (NII) rose 10% to Rs 601 crore in March 2025 quarter, compared to Rs 547 crore in Q4 FY24. For Q4 FY25, NIM was at 3.60% as against 3.66% in the corresponding period last year.
Profit before tax (PBT) grew 13.48% year on year (YoY) to Rs 362.96 crore in the quarter ended 31 March 2025.
The bank's operating profit before provisions and contingencies jumped 25.34% to Rs 440.96 crore in March 2025 quarter, compared to Rs 351.81 crore recorded in Q4 FY24.
The bank made a provision of Rs 555 crore as of 31 March 2025 as against Rd 501 crore in the corresponding period last year.
On asset quality front, the gross non-performing assets (GNPA) was at Rs 1,638.16 crore as on 31 March 2025, down 11.66% as against Rs 1,854.43 crore as on 31 March 2024. The ratio of gross NPA stood at 3.09% as of 31 March 2025, compared to 3.99% as on 31 March 2024. The ratio of net NPA stood at 1.25% as of 31 March 2025, compared with 1.97% as of 31 March 2024.
The bank’s capital adequacy as on 31 March 2025 as per Reserve Bank of India (RBI) guidelines on Basel III norms is 23.75% and Tier-1 capital adequacy was 22.70%, well above regulatory requirements.
On a full year basis, the bank’s net profit rallied 11% to Rs 1,124 crore on 21% rise in total income to Rs 6,732 crore in FY25 over FY24.
Total deposits of the bank had increased by 14% and increased to Rs 63,526 crore in FY25 from Rs 55,657 crore in corresponding period last year. CASA portion stood at 29% to total deposits. Cost of Deposits increased to 5.85% in FY25 from 5.59 % in FY24.
Total advances increased by 14% for FY25 to Rs 53,066 crore from Rs 46,481 crore in FY 24. Average credit deposit ratio stood at 84%.
Meanwhile, the board of directors has recommended a dividend Rs 2 per equity share for the Financial Year 2024-25. The Payment of which will be subject to approval by the shareholders cif the Bank at the ensuing Annual General Meeting.
City Union Bank is an old sector private sector bank with 875 branches across 16 states and three Union territories. It is a scheduled commercial Bank regulated by the Reserve Bank of India. It is professionally managed and governed. City Union Bank has contemporary technology and infrastructure including ATMs, Net Banking, Mobile Banking, E-Wallet, and Social Media Banking for personal as well as business banking customers.
For the full year,net profit rose 10.62% to Rs 1123.63 crore in the year ended March 2025 as against Rs 1015.73 crore during the previous year ended March 2024. Total Operating Income rose 10.69% to Rs 5834.04 crore in the year ended March 2025 as against Rs 5270.57 crore during the previous year ended March 2024.