Sensex Today Falls 300 Points | Adani Enterprises, Dr Reddy's Lab Decline 4% | Tata Motors, NTPC Top Gainers

Wed, 19 Feb 10:30 am

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Asian share markets are down today as the threat of a broader global trade war and geopolitical uncertainty continued to weigh on investors.

In US stock markets, Wall Street indices ended higher overnight as the S&P 500 squeaked past its previous record closing high, with earnings season winding down.

The Dow Jones and the Nasdaq rose 0.1% while the S&P inched higher by 0.2%.

Back home, Indian share markets are trading on a negative note.

At present, the BSE Sensex is trading lower by 280 points, while the NSE Nifty is trading around 22,860 levels, down about 80 points.

NTPC, BEL and Tata Steel are among the top gainers today.

Cipla and Dr Reddy's Lab, on the other hand, are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index gained 0.2% while the BSE Small Cap index advanced 0.9%.

Sectoral indices are trading mixed with stocks in the realty sector and metal sector witnessing most of the buying.

Pharma stocks and IT stocks, on the other hand, are trading in red.

Shares of Oxford International, Anand Rayons, and Solarium Green Energy hit their 52-week high today.

The rupee is trading at Rs 86.94 against the US dollar.

The domestic currency depreciated 8 paise to close at 86.96 against US dollar yesterday weighed down by sustained foreign fund outflows and an uptick in the US Dollar index.

In commodity markets, gold prices are trading at Rs 86,026 per 10 grams today.

Gold prices held steady near a record high, with investors closely watching US President Donald Trump's tariff strategies that have intensified worries of a global trade war while awaiting the Federal Reserve's January meeting minutes.

Speaking of stock markets, Yash Vora talks about the top 3 shipbuilding stocks and how they are placed for 2025, in his latest video.

Right now, India's market share in global shipbuilding is less than 1%. The new policy aims to change that, giving Indian shipbuilders a much-needed boost.

As shipping will remain a significant economic contributor in the current world as 80% of world trade by volume and 70% by value happens via ships, India's top 3 shipbuilding companies are gearing up for growth.

RVNL Secures Bengaluru Suburban Rail Project Contract

State-owned Rail Vikas Nigam Ltd (RVNL) announced on Tuesday, 18 February 2025, that it has received a letter of acceptance from Rail Infrastructure Development Company (Karnataka) Ltd (K-RIDE) for the construction of nine stations under Corridor-4A of the Bengaluru Suburban Rail Project (BSRP).

The contract, valued at Rs 554.5 crore, includes the development of one elevated station and eight at-grade stations at Heelalige, Singena Agrahara, Huskur, Ambedkar Nagar, Carmelaram, Bellandur, Marathahalli, Doddanakundi, and Kaggadasapura.

The project scope covers civil and structural works, entry/exit structures, steel foot-over bridges, roofing, pre-engineered buildings (PEB), architectural finishes, and E&M works.

The construction will be carried out over 24 months through a joint venture, with RVNL holding a 51% stake and Rithwik Projects Private Ltd (RPPL) owning the remaining 49%.

Note that RVNL is among the top beaten down railway stocks that are hammered in recent weeks, following no significant budget allocation to the railway sector.

In the past 5 years, the company's revenue have grown at a CAGR of 16.8%, while the net profit has grown at a CAGR of 18% during the same period.

Going ahead, RVNL plans to play a role in railway, solar, and port EPC work in Africa and Central Asia. It aims to increase its order book from Rs 850 bn to Rs 1,000 bn. It plans to use the latest technologies and designs to build durable infrastructure.

For more details, check out RVNL's financial factsheet.

Mobile Phone Exports on the Rise...

According to reports, Indian mobile phone exports are expected to climb 40% on-year to cross the Rs 1.8 lakh crore mark in FY25.

This comes following government's massive push to boost local manufacturing output, showed the latest data published by an industry body that represents brands such as Apple.

The ICEA, which counts Apple and contract manufacturers Foxconn, Dixon Technologies and others as members, said mobile phone exports are the largest growth drivers within electronics, with the US being a key market for India-made smartphones.

In FY25 so far, mobile phone exports surpassed Rs 1,50,000 crore, the ICEA said, attributing the performance to the performance linked incentive (PLI) scheme for handset manufacturing.

Note that Dixon Technologies is the biggest beneficiary of this megatrend as it is taking serious efforts to grow its mobile business.

Over the past seven years, Dixon's sales have increased at a compounded annual growth rate (CAGR) of 32.9%, reaching Rs 176,909 million (m) in FY24. Meanwhile, its profits have grown even faster, with a CAGR of 34.5% to Rs 3,749 m.

62% of this revenue comes from mobile phones and EMS, 23% from consumer electronics, and 7% from home appliances. The remaining 8% is derived from lighting and security surveillance systems, contributing 4% each.

The company holds a 60% market share in the mobile EMS market, with its mobile segment revenue growing 109% compared to last year. Dixon caters to 80-85% of the mobile market, serving 8 of the top 10 mobile brands.

Dixon benefits from increasing production volumes across key clients, including Samsung, Xiaomi, OnePlus, Motorola, Oppo, and others.

The company has set ambitious targets. It expects to sell 30 m phones in FY25 and expand to 60 m by 2027.

To support this growth, Dixon aims to increase its capacity to 45 m by 2026, driven by rising orders from both existing and new customers.

Dixon has secured new clients, including Vivo, Nothing, Techno, and Intel. The company has formed a joint venture with Vivo and plans to ramp up production once the required government clearances are obtained.

Additionally, Dixon's subsidiary, IsmartU, has invested Rs 1.3 bn to scale production for brands like Nothing, Techno, and Intel and fulfill 3 m export orders to Africa.

This will help Dixon increase its share in mobile manufacturing, as ISmartU has about 47% market share in the phone market in India. It is expected to add Rs 70-80 bn to Dixon's total revenue.

Here's how Dixon's share price has moved in the past 1 year -

For more details, check our latest research on Dixon here.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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