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Oil & Gas shares extended gains for the second consecutive trading sessions.
At 12:30 IST, the barometer index, the S&P BSE Sensex, added 436.91 points or 0.53% to 82,157.99. The Nifty 50 index advanced 134.10 points or 0.55% to 24,987.25.
In the broader market, the S&P BSE Mid-Cap index added 0.44% and the S&P BSE Small-Cap index jumped 0.59%.
The market breadth was positive. On the BSE, 2,286 shares rose and 1,615 shares fell. A total of 224 shares were unchanged.
Economy:
The Reserve Bank of India (RBI) on Friday handed the government a whopping Rs 2.68 lakh crore in surplus for FY25, 27% more than last year and even higher than what the Union Budget had estimated. Analysts suggest that this additional amount could support the government’s objective of reducing the fiscal deficit to 4.4% for the current financial year.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 5.81% to 18.28. The Nifty 29 May 2025 futures were trading at 25,003.70, at a premium of 16.45 point as compared with the spot at 24,987.25.
The Nifty option chain for the 29 May 2025 expiry showed a maximum call OI of 133 lakh contracts at the 26,000 strike price. Maximum put OI of 118 lakh contracts was seen at 24,000 strike price.
Buzzing Index:
The Nifty Oil & Gas index rose 0.64% to 11,541.35. The index rallied 1.42% in two consecutive trading sessions.
Adani Total Gas (up 2.19%), Hindustan Petroleum Corporation (up 2.01%), Bharat Petroleum Corporation (up 1.16%), Oil India (up 1.1%), Reliance Industries (up 0.92%), Oil & Natural Gas Corpn (up 0.67%), GAIL (India) (up 0.47%), Gujarat Gas (up 0.15%), Petronet LNG (up 0.14%) and Indraprastha Gas (up 0.12%) advanced.
On the other hand, Aegis Logistics (down 0.60%), Mahanagar Gas (down 0.25%) and Indian Oil Corporation (down 0.15%) edged lower.
Stocks in Spotlight:
Indigo Paints added 1.51% after the company’s consolidated net profit rose 5.99% to Rs 56.90 crore in Q4 FY25 as against Rs 53.68 crore in Q4 FY24. Revenue from operations increased marginally to Rs 387.56 crore in the quarter ended 31 March 2025, compared to Rs 384.88 crore in the same period a year ago.
GE Vernova T&D India hit an upper circuit of 10% after the company’s standalone net profit surged 181.3% to Rs 186.50 crore on a 26.15% jump in revenue from operations to Rs 1,152.54 crore in Q4 FY25 over Q4 FY24.
Finolex Industries surged 5.86% after the company's standalone net profit surged 111.75% to Rs 150.26 crore while net sales rose 17.04% to Rs 1,171.81 crore in Q4 March 2025 over Q3 December 2024.
However, the company's standalone net profit fell 6.92% while net sales declined 5.15% in Q4 March 2025 over Q4 March 2024.
EBITDA for Q4 stood at Rs 171.27 crore, down 18.03% YoY. The EBITDA margin came in at 14.6%, lower than 16.9% in Q4 FY24.
Volume in pipes & fittings segment increased by 2% to 102,253 MT against 100,171 MT in Q4FY24 in-spite of weak demand scenario.
For the full year, net profit fell 0.06% to Rs 455.01 crore while net sales declined 4.06% to Rs 4,141.97 crore in the year ended March 2025 over the year ended March 2024. PBT before exceptional item fell 4.20% year-on-year to Rs 587.70 crore in FY25 over FY24. EBITDA fell 18.65% to Rs 475.80 crore in FY25 over FY24. EBITDA margin stood at 11.5% in FY25, lower than 13.5% in FY24.
Exceptional gain amounting Rs 416.99 crore was recorded in FY25 on completion of transfer of rights on leasehold land admeasuring approximately 25.27 acres situated at Chinchwad, Pune, along with structures.
The company's standalone net cash from operating activities stood at Rs 382.68 crore in FY25, higher than Rs 353.30 crore in FY24.
Prakash P. Chhabria, executive chairman, Finolex Industries said, 'FIL has registered modest volume growth in Pipes & Fittings volume in-spite of weak demand scenario during the quarter and year. The operating performance of the company is muted mainly due to weaker realization on account of volatility in PVC prices. The company’s endeavor to grow in non-agri segment is on going.'
Finolex Industries is engaged in the business of manufacturing PVC pipes and fittings and PVC resin.
For the full year,net profit rose 68.93% to Rs 800.03 crore in the year ended March 2025 as against Rs 473.59 crore during the previous year ended March 2024. Sales declined 4.06% to Rs 4141.97 crore in the year ended March 2025 as against Rs 4317.43 crore during the previous year ended March 2024.