Bank of Baroda Declares Dividend | Adani Energy Solutions Q4 Result | Top Buzzing Stocks Today

Wed, 7 May Pre-Open

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After opening in a weaker note, Indian benchmark indices continued their downward momentum, ended the session in red.

The BSE and the NSE benchmark indices settled lower on Tuesday, weighed down by broad-based selling across sectors.

At the closing bell on Tuesday, the BSE Sensex  closed lower by 155 points (down 0.2%).

Meanwhile, the NSE Nifty closed points 81 lower (down 0.3%)

Bharti Airtel, Tata Steel, HUL among the top gainers today

Adani Ports, SBI, Tata Motors on the other hand, were among the top losers today.

The BSE MidCap index ended 2.1% lower and BSE SmallCap index ended 2.3% lower.

Baring auto sector and media sector all other sectoral indices were trading negative today with stocks in realty sector and power sector witnessing selling pressure.

Speaking of the stock markets, Research Analyst, Richa Agrawal in her latest video talks how waste poses a major challenge for governments, businesses, and the environment.

However, it also presents an opportunity. The video focuses on two companies that are transforming waste into wealth and paving the way for a circular economy.

When done through legal and safe methods, even old tyres can be recycled-and play a key role in powering the circular economy.

Top buzzing stocks today

YES Bank shares will be in focus today.

shares of YES bank rallies 9.6% at Rs 19.4 per share after the reports emerged that Japan's Sumitomo Mitsui Banking Corp (SBMC) might buy a significant stake in the bank.

YES Bank clarifies that discussions with potential investors, including Sumitomo Mitsui Banking Corp, are preliminary and speculative and no formal disclosure is warranted at this stage.

SMBC may acquire 51% stake of YES Bank, which would require it also offer to buy up to 26% more shares from other investors.

RBI has given verbal assurance to SMBC that it can have majority ownership in YES Bank but its voting rights will be limited to 26%.

CCL shares will also be a top buzzing stock.

shares of Continental Coffee Limited increased to 15% to Rs 684 after the company posted its strong Q4 results.

The company's net profit jumped 56% to Rs 1 bn due to strong demand and operational efficiencies.

Revenue also jumped 15% to Rs 8.3 bn. This rise was supported by exports and the Vietnam facility's output.

Adani Energy Solutions Q4 Results

Adani Energy Solutions reported a robust 78% year-on-year (YoY) growth in consolidated net profit for Q4, reaching Rs 6.5 billion (bn). The company's revenue from operations also saw a notable increase of 35% YoY, amounting to Rs 63.8 bn.

However, total expenses during the January-March 2025 period surged 24% YoY, reaching Rs 54.1 bn.

On a sequential basis, net profit rose 15% compared to the Rs 562 crore posted in the December quarter, while revenues increased by 9% quarter-on-quarter.

Profit before tax for the quarter stood at Rs 9.7 bn, marking a substantial rise from Rs 552 crore in the same period last year.

Breaking down the segments, the transmission business saw a 36% YoY increase in revenue, reaching Rs 22.5 bn in Q4, up from Rs 16.5 bn last year.

Meanwhile, the distribution business generated Rs 29.1 bn in Q4FY25, a rise from Rs 23.9 bn in Q4FY24.

Bank of Baroda Declares Dividend

Bank of Baroda (BoB) declared a dividend of Rs 8.35 per equity share for FY2024-25 on Tuesday.

The bank has set 6 June 2025, as the record date for the dividend payment.

For the period, BoB reported a net profit of Rs 50.5 bn, marking a 3.2% year-on-year growth.

The bank's profitability was boosted by a significant increase in other income, which rose 24% YoY to Rs 52.1 bn.

However, net interest income (NII), the bank's core income, saw a decline of 6.6% compared to the same quarter last year, totalling Rs 110.2 bn.

The bank's gross non-performing assets (NPA) improved to 2.26% from 2.43% in the previous quarter, while the net NPA stood at 0.58%, down from 0.59% in the December quarter.

Total provisions for the quarter increased to Rs 15.5 bn, compared to Rs 10.8 bn in the previous quarter.

Established in 1908, Bank of Baroda is the third largest public sector bank in India.

It offers a wide range of banking services, including personal, corporate, international, rural, small and medium enterprises (SME), non-resident Indian (NRI) services, and treasury services.

The bank has operations in 17 countries, including the UK, New Zealand, Kenya, Malaysia, and Botswana.

Why Nifty PSU Bank Index is Falling

The Nifty PSU Bank index declined nearly 3% to 6,379.75 in Tuesday's intra-day trade, with all 12 constituent banking stocks trading in the red. Losses ranged up to 4%, with Union Bank of India, Bank of India, Punjab & Sind Bank, Indian Overseas Bank, Central Bank of India, and Punjab National Bank dropping between 3% and 4%. State Bank of India, Indian Bank, Canara Bank, Bank of Baroda, and UCO Bank also slipped around 2%.

The broad-based sell-off was triggered by the Supreme Court's recent decision to strike down JSW Steel's 2019 resolution plan for Bhushan Power and Steel (BPSL), declaring the plan illegal and ordering liquidation of BPSL's assets. With the apex court quashing the acquisition, lenders-mainly PSU banks-will now have to return the funds recovered from JSW Steel. Market experts believe this will lead to fresh provisioning beginning in the first quarter of FY2025-26, putting pressure on bank balance sheets and dampening investor sentiment.

Meanwhile, JSW Steel in an exchange filing said they are yet to receive the formal copy of the Order to understand the grounds for rejection in detail and its implications.

At this stage, the lenders are awaiting the detailed order. After they get it, they will assess the implications and decide on the next step.

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

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