Latest news with #PrashanthTapse
Hans India
18 hours ago
- Business
- Hans India
Markets end lower on IT drag, weak Asian cues
Mumbai:Stock markets closed lower in a range-bound trade on Friday following losses in IT shares and sluggish trends in Asian markets due to trade uncertainty after a US appeals court temporarily reinstated reciprocal tariffs. The 30-share BSE Sensex declined by 182.01 points or 0.22 per cent to settle at 81,451.01 as 24 of its constituents retreated and six advanced. During the day, it dropped 346.57 points or 0.42 per cent to 81,286.45. The NSE Nifty dipped 82.90 points or 0.33 per cent to 24,750.70. Metals, IT, and auto sector shares declined while banking shares gained. Investors were cautious ahead of the release of domestic GDP data post-market hours, analysts said. Among Sensex firms, Tech Mahindra fell the most by 1.73 per cent. HCL Tech, Asian Paints, NTPC, Infosys, Nestle, Sun Pharma, and Tata Steel also closed lower. Eternal, State Bank of India, HDFC Bank, Larsen & Toubro, Reliance Industries and Bajaj Finserv were the gainers. 'A range-bound movement continued in the market, with the temporary reinstatement of US tariffs by the appeal court influencing investors to stay on the sideline. The global market may contend with macroeconomic concerns as the global trade landscape has yet to see stability, which may navigate a short-term consolidation. 'Meanwhile, FII inflows continued due to the volatility in the US 10-year yield and an expectation of solid domestic Q4 GDP data later today and a rate cut by RBI,' Vinod Nair, Head of Research, Geojit Investments Limited, said. 'Markets languished in negative territory to end lower amid weak Asian cues as investors cut their position in IT, metal, oil & gas and auto shares,' Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said. The BSE midcap gauge declined 0.39 per cent while smallcap index went up by 0.17 per cent. Among sectoral indices, metal dropped the most by 1.68 per cent, followed by BSE Focused IT (1.14 per cent), commodities (1.14 per cent), utilities (1.09 per cent), teck (0.99 per cent), auto (0.91 per cent) and telecommunication (0.79 per cent). Financial Services, bankex and capital goods were the gainers. On the weekly front, the BSE benchmark declined 270.07 points or 0.33 per cent and the Nifty dipped 102.45 points or 0.41 per cent. Foreign Institutional Investors (FIIs) bought equities worth Rs 884.03 crore on Thursday, while Domestic Institutional Investors (DIIs) bought equities worth Rs 4,286.50 crore, according to exchange data. The BSE Sensex climbed 320.70 points or 0.39 per cent to settle at 81,633.02 on Thursday. The 50-share Nifty went up by 81.15 points or 0.33 per cent to 24,833.60.
Mint
a day ago
- Business
- Mint
Nisus Finance Services share price slumps 10% post Q4 results. Should you buy, sell or hold?
Nisus Finance Services share price slumped 10% on Friday's session after the company announced its Q4 result. On Thursday, the firm reported an 28% year-on-year fall in its consolidated net profit (attributable to owners of the company) for the fiscal's fourth quarter ended March (Q4FY25) to ₹ 13.38 crore. The company had reported a profit of ₹ 18.76 crore in the year-ago period. Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities, said that post H2FY25 and FY25 results reported yesterday after market hours', today in the opening session stock reacted negatively based on high hopes while company reported earnings in line with their expectations. "We see FY26 would be the real financial year investors should watch out for high growth which would come from full utilisation of IPO funds,' said Prashanth Tapse. Nisus Finance Services consolidated total income stood at ₹ 33 crores during the quarter ended March (Q4FY25) from ₹ 30. 95 crore in Q4FY24, a year-on-year rise of 6.42%. For the complete fiscal year, the company recorded a consolidated net profit of ₹ 32.58 crore, representing a 35.5%% increase from ₹ 24.05 crore in the previous year. The total income jumped 56.37% to ₹ 67.30 crore in FY25 from ₹ 43.04 crore in FY24. FY25 was a year of significant strategic progression and platform development for Nisus Finance, as they pursued their goal of establishing themselves as a regionally diversified asset manager with a strong focus on real estate and urban infrastructure, believes Amit Goenka, Chairman & Managing Director of Nisus Finance Services Co Limited. 'Our expansion into the GCC, highlighted by the establishment of a presence in the DIFC and acquisitions in promising residential markets, demonstrates our commitment to building cross-border scale and secure long-term investment positions,' said Goenka. Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities said that post IPO in Dec 2024 Nisus Finance reported a healthy 35.5% rise in its net profit to ₹ 32.58 crore for the financial year ended March 2025 and company's total income surged 56.37% to ₹ 67.30 crore during FY25, whereas (EBITDA) rose 22.1% to ₹ 44.48 crore. According to Tapse, overall growth is driven by mix aligns with business strategic model: advisory revenues capitalize on high-value transactions, while fund management generates recurring income, which scaled AUM growth. Assets under management (AUM) also grew 55% to around ₹ 1,572 crore as of March 31, 2025. The increase was attributed to a robust deal pipeline and disciplined investment strategy across India and the Gulf Cooperation Council (GCC) region. The company has effectively leveraged its IPO to expand, and its dual focus on advisory and asset management services is producing strong returns. IPO significantly strengthened brand and capital base, boosting liquidity and providing ample capital for growth in FY 2026. On IPO fund usage disclosures, Prashanth Tapse explained that the planned expansions into IFSC-GIFT City (India), DIFC-Dubai (UAE), and FSC-Mauritius are critical growth levers and which could deliver results in coming 6 months. 'We see a balanced and scalable business model and expect fund management income (annuity-type) to increase in share in FY2026,' added Tapse. Nisus has guided target of ₹ 4,000 crore AUM from ₹ 1,572 crore which translates to ~150% growth with blended Revenue-to-AUM Yield ~3% – 3.5%. With a proven integrated platform, strong institutional partnerships, and a cross-border footprint, Nisus is well-positioned for outsized value creation in FY26 and beyond. Prashanth Tapse said that considering the unique business model, investors should look beyond quarter-to-quarter earnings and treat Nisus as a long-term wealth creation story, driven by a unique integrated platform and high growth business segments. 'Hence recommend long term investors to accumulate given scalable business model, recurring income visibility, and high-growth AUM strategy while short term investors can wait and watch for a good discounted price opportunity due to post result profit booking and market volatility. Technically ₹ 260-275 can be best range for Accumulation for long term investors as well as short term traders,' said Tapse. On Friday, Nisus Finance Services share price ended 10% lower at ₹ 326.90 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
The Hindu
a day ago
- Business
- The Hindu
Sensex declines 182 points on losses in IT, metal shares, sluggish Asian peers
Stock markets closed lower in a range-bound trade on Friday (May 30, 2025) following losses in IT shares and sluggish trends in Asian markets due to trade uncertainty after a U.S. appeals court temporarily reinstated reciprocal tariffs. The 30-share BSE Sensex declined by 182.01 points or 0.22% to settle at 81,451.01 as 24 of its constituents retreated and six advanced. During the day, it dropped 346.57 points or 0.42%, to 81,286.45. The NSE Nifty dipped 82.90 points or 0.33%, to 24,750.70. Metals, IT, and auto sector shares declined while banking shares gained. Investors were cautious ahead of the release of domestic GDP data post-market hours, analysts said. Among Sensex firms, Tech Mahindra fell the most by 1.73%. HCL Tech, Asian Paints, NTPC, Infosys, Nestle, Sun Pharma, and Tata Steel also closed lower. Eternal, State Bank of India, HDFC Bank, Larsen & Toubro, Reliance Industries and Bajaj Finserv were the gainers. 'A range-bound movement continued in the market, with the temporary reinstatement of U.S. tariffs by the appeal court influencing investors to stay on the sideline. The global market may contend with macroeconomic concerns as the global trade landscape has yet to see stability, which may navigate a short-term consolidation. 'Meanwhile, FII inflows continued due to the volatility in the U.S. 10-year yield and an expectation of solid domestic Q4 GDP data later today and a rate cut by RBI,' Vinod Nair, Head of Research, Geojit Investments Limited, said. 'Markets languished in negative territory to end lower amid weak Asian cues as investors cut their positions in IT, metal, oil & gas and auto shares,' Prashanth Tapse, Senior VP (Research), Mehta Equities Limited, said. The BSE midcap gauge declined 0.39% while smallcap index went up by 0.17%. Among sectoral indices, metal dropped the most by 1.68%, followed by BSE Focused IT (1.14%), commodities (1.14%), utilities (1.09 per cent), tech (0.99%), auto (0.91%) and telecommunication (0.79%). Financial Services, bankex and capital goods were the gainers. On the weekly front, the BSE benchmark declined 270.07 points or 0.33% and the Nifty dipped 102.45 points or 0.41%. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in the negative territory. Markets in Europe were trading higher. U.S. markets ended higher on Thursday (May 29, 2025). Foreign Institutional Investors (FIIs) bought equities worth Rs 884.03 crore on Thursday (May 29, 2025), while Domestic Institutional Investors (DIIs) bought equities worth Rs 4,286.50 crore, according to exchange data. Global oil benchmark Brent crude climbed 0.44% to $64.43 a barrel. The BSE Sensex climbed 320.70 points or 0.39%, to settle at 81,633.02 on Thursday (May 29, 2025). The 50-share Nifty went up by 81.15 points or 0.33% to 24,833.60.
Mint
a day ago
- Business
- Mint
Closing Bell! Eternal to IndusInd Bank - Prashanth Tapse suggests 3 stocks to buy in the short term
Stock market today: Indian benchmark indices dipped on Friday, as declines in information technology stocks, influenced by renewed uncertainty regarding US tariffs, overshadowed the optimism ahead of domestic growth data set to be released later in the day. The Nifty 50 fell by 0.34% to 24,743.45 at 15:02 IST, while the Sensex decreased by 0.27% to 81,391.38. IT firms, which obtain a significant portion of their revenue from the United States, declined by 1% after an appeals court temporarily reinstated the most extensive tariffs imposed by President Donald Trump. On the technical front, Prashanth Tapse of Mehta Equities believes that if Nifty 50 moves above 25,000 with good momentum, we could witness gains in the upcoming trading sessions. Tapse has recommended buying the below three stocks in the short term. Nifty 50 continues to look positive after closing above the 24,800 level. The index has strong support at 24,700, and as long as this holds, the uptrend is likely to continue. On the upside, 24,900 and 25,000 are important resistance levels. If Nifty 50 moves above 25,000 with good momentum, we may see further gains in the coming sessions. Resistance: 24,900 – 25,000 Bank Nifty is moving sideways but shows slight bullishness. It has a solid support level near 55,000. On the higher side, 55,550 and 55,875 are key resistance levels. A close above 55,875 could start a fresh upward move, but until then, the index may stay in a range with buying opportunities on dips. Resistance: 55,550 – 55,875 Prashanth Tapse recommends buying these three stocks in the short term - Eternal Ltd, Central Depository Services Ltd (CDSL), and IndusInd Bank Ltd. Eternal share price has been consolidating in a narrow range and has now shown signs of a breakout above ₹ 230, indicating a potential short-term rally. The RSI (14) is rising, reflecting increasing bullish momentum, while the MACD is about to trigger a positive crossover, supporting the upward trend. The price action suggests accumulation at lower levels, and any dip towards ₹ 225–228 should attract buying interest. A move above ₹ 235 can lead to a swift rally toward ₹ 250. The risk-reward remains favourable with a stop loss placed at ₹ 222. Overall sentiment and technicals support a near-term bullish outlook. CDSL share price has shown strong price strength after rebounding from support at ₹ 1,490, backed by a noticeable rise in volumes. The breakout above ₹ 1,530 indicates bullish continuation. RSI (14) at 64 reflects positive momentum, while MACD crossover confirms the ongoing uptrend. As a key player in the booming depository and fintech space, CDSL stands to benefit from rising investor participation. The technical structure points toward a potential move to ₹ 1,650 in the short term. Any intraday dip toward ₹ 1,520–1,530 can offer a buying opportunity. Maintain a stop loss at ₹ 1,495 for risk management. IndusInd Bank share price has bounced back smartly from the ₹ 795 support zone, indicating strong buying interest at lower levels. The stock has reclaimed its short-term moving averages and is showing signs of bullish reversal. RSI (14) has crossed 60, and MACD has turned positive, both suggesting further upside. With Bank Nifty trending higher, IndusInd is well-placed to participate in the rally. The next hurdle lies around ₹ 835, above which a move toward ₹ 870 appears likely. Strong fundamentals, improved asset quality, and positive sentiment in the sector support this view. Keep a stop loss at ₹ 795 to limit downside risk. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Hans India
3 days ago
- Business
- Hans India
FMCG, auto shares drag markets lower for 2nd day
Mumbai: Stock markets declined for the second straight day on Wednesday with benchmark Sensex falling by 239 points dragged by losses in FMCG major ITC. The 30-share BSE barome-ter declined 239.31 points or 0.29 per cent to settle at 81,312.32. During the day, it lost 307.61 points or 0.37 per cent to 81,244.02. The 50-issue NSE Nifty dropped 73.75 points or 0.30 per cent to close at 24,752.45. Analysts said the key indices remained largely range-bound ahead of the monthly expiry on Thursday and the release of GDP and industrial production data. FMCG, auto, and pharma shares declined while banking, mainly PSUs, media and energy shares advanced. Among Sensex stocks, ITC fell over 3 per cent after British multinational BAT trimmed its ownership in the conglomerate by divesting a 2.5 per cent stake for Rs 12,927 crore ($1.51 billion) through a block deal. IndusInd Bank, Nestle, UltraTech Cement, Mahindra & Mahindra, Power Grid, Asian Paints, Sun Pharma and Tech Mahindra were also among the lag-gards. Bajaj Finance, Bharti Airtel, ICICI Bank, Adani Ports and HCL Tech were among the gainers. 'The domestic indices remained rangebound with a negative bias, primarily due to the lack of support from FIIs and prevailing premium valuations. A lingering concern over India-US trade relations following the end of the 90-day pause period continues to pose an external risk,' Vinod Nair, Head of Research, Geojit Investments Limited, said. The BSE smallcap gauge climbed 0.50 per cent while midcap index dipped 0.22 per cent. Among sectoral indices, FMCG dropped the most by 1.33 per cent, followed by metal (0.69 per cent), auto (0.67 per cent), consumer durables (0.58 per cent), commodities (0.52 per cent) and consumer discretionary (0.51 per cent). Financial Services, industrials, telecommunication, bankex, capital goods, services and teck were the gainers. 'Markets were extremely range-bound with a negative bias as weak European cues and domes-tic monthly F&O expiry on Thursday prompted investors to trim their holdings. The minutes of the US FOMC (Federal Open Market Committee) meeting held in early May will provide some hint to the markets on the direction of the interest rates going ahead,' Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
