Jockey to the Top

Author

Sean Horgan
May 15, 2025

TLDR

📈 Market Recap: May 15, 2025: Indian equities surged, with the BSE Sensex rising 1,200 points (1.48%) to 82,530.74 and the Nifty 50 gaining 395 points (1.6%) to 25,062.10. The rally was driven by optimism over a potential zero-tariff India-U.S. trade deal, following comments from U.S. President Donald Trump. All sectors closed higher, led by financials, autos, and IT stocks.

Today’s Top Stories:

  1. Page Industries Q4 Profit Surges 51.6% on Athleisure Demand
    Strong demand for athleisure wear propels Page Industries' ($PAGEIND.NSE ( ▲ 0.05% )) Q4 profit to ₹1.64 billion, exceeding expectations.

  2. MSCI Adds Coromandel International and Nykaa to Global Standard Index
    MSCI's inclusion of Coromandel ($COROMANDEL.NSE ( ▲ 2.0% )) and Nykaa ($NYKAA.NSE ( ▲ 1.31% )) is expected to attract $408 million in passive fund inflows.

  3. LIC Housing Finance Beats Q4 Profit Estimates on Improved Asset Quality
    LIC Housing Finance ($LICHSGFIN.NSE ( ▼ 0.02% )) reports better-than-expected Q4 profit, aided by improved asset quality and lower provisions.

  4. Sebi Bans Varyaa Creations from Securities Market Over IPO Funds Misuse
    Sebi restrains Varyaa Creations and its merchant banker for alleged misuse of IPO proceeds.

  5. Borana Weaves IPO Set to Open with Strong Grey Market Premium
    Borana Weaves' upcoming IPO shows over 25% grey market premium, indicating robust investor appetite.

MARKETS

Market Snapshot

Nifty 50 Index Heatmap

Top Gainers & Losers

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TOP STORIES

1. Page Industries Q4 Profit Surges 51.6% on Athleisure Demand

DALL-E

  • Strong earnings beat: Page Industries ($PAGEIND.NSE ( ▲ 0.05% )), the exclusive licensee for Jockey and Speedo in India, reported a 51.6% year-on-year increase in Q4 profit, reaching ₹1.64 billion, surpassing analysts’ expectations.

  • Revenue growth: Revenue from operations rose 10.6% to ₹10.98 billion, driven by increased demand for athleisure wear amid lifestyle changes and fitness awareness.

  • Margin expansion: EBITDA margin improved to 21.4% from 16.6% a year earlier, attributed to stable raw material costs and efficient supply chains.

2. MSCI Adds Coromandel International and Nykaa to Global Standard Index

DALL-E

  • Index inclusion: MSCI announced the inclusion of Coromandel International and FSN E-Commerce Ventures ($NYKAA.NSE ( ▲ 1.31% )) in its Global Standard Index as part of its May 2025 semi-annual review.

  • Effective date: The changes will take effect after the market closes on May 30, 2025.

  • Expected inflows: Analysts project passive fund inflows totaling approximately $408 million into the two stocks due to the inclusion.

3. LIC Housing Finance Beats Q4 Profit Estimates on Improved Asset Quality

DALL-E

  • Earnings performance: LIC Housing Finance ($LICHSGFIN.NSE ( ▼ 0.02% )) reported Q4 profit that exceeded expectations, aided by healthy asset quality and lower provisions.

  • Asset quality improvement: The company's non-performing assets declined, reflecting better loan performance and recovery efforts.

  • Market reaction: Investors responded positively to the results, with the stock showing gains during the trading session.

4. Sebi Bans Varyaa Creations from Securities Market Over IPO Funds Misuse

DALL-E

  • Regulatory action: The Securities and Exchange Board of India (Sebi) has restrained SME company Varyaa Creations Ltd from accessing the securities market for alleged diversion of IPO proceeds.

  • Merchant banker barred: Sebi also barred Inventure Merchant Banking Services Pvt Ltd from taking up any new merchant banking assignments until further notice.

  • Investor protection: The action underscores Sebi's commitment to safeguarding investor interests and maintaining market integrity.

5. Borana Weaves IPO Set to Open with Strong Grey Market Premium

DALL-E

  • IPO details: Borana Weaves' initial public offering is scheduled to open for subscription on May 20 and close on May 22, with a price band of ₹205-216 per share.

  • Grey market premium: The IPO is commanding a grey market premium indicating over 25% listing gains, reflecting strong investor interest.

  • Company profile: Borana Weaves is engaged in the manufacturing and export of textile products, with a focus on quality and innovation.

GYAANI HOT TAKES

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