Shares of CERA Sanitaryware rose as much as 5.13% to hit an intraday high of ₹5,809 after it announced March quarter earnings.

CERA Sanitaryware standalone Q4 highlights (YoY)

• Net profit rises 14% to ₹86 crore versus ₹75 crore
• Revenue rises 6% to ₹578 crore versus ₹465 crore
• EBITDA up 15% at ₹106 crore versus ₹92 crore
• EBITDA margin at 18.27% versus 16.85%

Broader markets were trading lower but outperforming their larger peers. NIFTY Midcap 100 index declined 0.25% and NIFTY Smallcap 100 index fell 0.94%.

NIFTY MIdcap 100 gainers

• Yes Bank (7.08%)
• Union Bank of India (5.88%)
• Bharat Dynamics (5.225)
• Bharat Forge (4.49%)
• Mazagon Dock (2.71%)

NIFTY Midcap 100 losers

• M&M Financial Services (-3.94%)
• Apollo Tyres (-3.68%)
• NHPC (-3.45%)
• RVNL (-3.23%)
• Dixon Technologies (-3.23%)

A formal announcement is expected shortly.

There was an uncertainty over the future of the ongoing edition of the IPL after Punjab Kings and Delhi Capitals' match in Himachal Pradesh's Dharamsala on Thursday was cancelled midway following air raid alerts in Jammu and Pathankot.

Speaking to PTI, a BCCI official said, "It does not look nice that cricket goes on while the country is at war."

Inflow in equity mutual funds dipped 3.24 per cent to Rs 24,269 crore in April amid continued market volatility against the backdrop of escalating tensions between India and Pakistan following the Pahalgam terrorist attack.

This was the fourth consecutive month of decline in inflow in equity funds. Also, the latest fund infusion by investors marks the 50th consecutive month of net inflows into the segment.

Apart from equity, debt funds registered an inflow of Rs 2.19 lakh crore in the month under review after seeing a withdrawal of Rs 2.02 lakh crore in March. Overall, the mutual fund industry experienced an infusion of Rs 2.77 lakh crore in April as compared to an outflow of Rs 1.64 lakh crore in the preceding month.

The company reported a 36.44% growth in its consolidated net profit at ₹187.60 crore for the quarter ended March 31, 2025 (Q4 FY25).

The company's PAT (profit after tax) or net profit stood at ₹137.49 crore during the corresponding quarter of the preceding fiscal.

Revenue from operations of the company witnessed a growth of 36.60% during the quarter at ₹6,181.53 crore compared to ₹4,525.01 crore seen in the same period a year ago.

Aligning the consumer needs with the Make in India programme, only duty reduction from the sixth year (no elimination) is offered on medical devices coming under the PLI. While the import duty on the sector is up to 7.5% in India, it stands at 4.2% in the UK. As per estimates, India's medical devices imports from the UK rose by over 35% to ₹2,295 crore in 2023-24. The country's exports are around ₹1,000 crore. The major devices traded between the two countries include disinfectants, spectacles, breathing appliances, hearing aids, orthopaedic appliances, radiography apparatus, and appliances used in medical, surgical, dental and veterinary sciences.

Drone manufacturing stocks climbed on Friday, May 9, amid heightened tensions between India and Pakistan after 'Operation Sindoor'.

Shares of drone makers Ideaforge Technology, Droneacharya Aerial Innovations, Paras Defence, and Zen Technologies jumped up to 17% in Friday’s trade, amid escalating tensions between India and Pakistan.

At 11:53 AM, shares of IdeaForge Technology were trading 18.03% higher at ₹455.90 apiece on the NSE, whereas, shares of Zen Technologies were trading 4.99% higher at ₹1,406.40 apiece on the NSE.

The net interest income for the bank largely remained flat at ₹9,514 crore in Q4FY25 as against ₹9,437 crore in the previous year's similar quarter. This was largely due sharper increase in the interest expenses at 7.5% YoY than total interest income at 5.1%.

However, a moderate drop in the operating expenses led to a nearly 18% jump in the operating profit for the bank at ₹7,700 crore. The provisions for bad debts and contingencies also dropped to 15% YoY to ₹2715 crore as against ₹3,222 crore. Consequently, the net profit for the quarter jumped by 50% YoY to ₹4,985 crore.

Construction company Ravi Infrabuild Projects Ltd has filed preliminary papers with markets regulator Sebi seeking its approval to raise ₹1,100 crore through an initial public offering (IPO).

The proposed IPO is entirely a fresh issue of equity shares with no Offer-for-Sale (OFS) component, according to the draft red herring prospectus (DRHP) filed on Thursday.

Proceeds of the issue will be utilised for the purchase of new equipment, investment in the subsidiaries for payment of debt, and for general corporate purposes.

Ravi Infrabuild Project is a civil construction company engaged in the development of roads, highways, bridges, flyovers, and tunnels primarily for public sector clients. With more than two decades of experience, the company has presence across multiple Indian states, including Rajasthan, Madhya Pradesh, Maharashtra, and Uttar Pradesh.

Gold prices are trading marginally lower in the domestic markets amid weak demand. At 10:00 am, the 24K gold rate in the local market stood at ₹96,700 per 10 gram, down ₹90/ 10 gram compared to yesterday’s closing, while 22K gold was at ₹88,706 per 10 gram.

Yellow prices are down despite escalating India-Pakistan tension. Gold prices received support amid upbeat international events like US-UK trade deal and positive talks around US and China trade agreement.

Zydus Lifesciences on Friday said it has received approval from the US health regulator to market a generic medication to treat multiple sclerosis.

The company has received approval from the US Food and Drug Administration (USFDA) for Glatiramer Acetate Injection, 20 mg/mL and 40 mg/mL, single-dose prefilled syringes.

The company's product is the generic version of Copaxone which is indicated for the treatment of relapsing forms of Multiple Sclerosis (MS).

Shares of Bharat Dynamics were trading 2.15% higher at ₹1,485 apiece on the National Stock Exchange (NSE) at 9:25 am.

Paras Defence and Space Technologies stock was up 1.96% to ₹1,385.8 per share. Similarly, Bharat Electronics Ltd gained 1.94% to ₹313.1 a unit.

Hindustan Aeronautics and Mazagon Dock Shipbuilders were also up 2.18% and 1%, respectively.

In retaliation for the Pahalgam terror attack, Indian armed forces launched 'Operation Sindoor' and carried out missile strikes on Wednesday on nine terror targets in Pakistan and Pakistan-Occupied Kashmir (PoK). The military strikes were conducted two weeks after the killing of 26 civilians in Jammu and Kashmir's Pahalgam in a terrorist attack.

On Thursday night, India foiled Pakistan's attempt to target military stations in border areas.

NIFTY50 losers

• Jio Financial Services (-3.32%)
• Power Grid (-2.94%)
• Trent (-2.58%)
• NTPC (-2.53%)
• UltraTech Cement (-2.52%)

NIFTY50 gainers

• Titan (3.70%)
• Larsen & Toubro (3.21%)
• Bharat Electronics (2.87%)
• Tata Motors (1.75%)
• Hero MotoCorp (0.78%)

Shares of FMCG products maker, Britannia Industries, rose as much as 1.98% to hit an intraday high of ₹5,500.25 a day after it reported March quarter earnings.

Britannia Industries reported a 4.2% rise in consolidated net profit to ₹559.13 crore for the March quarter of FY25, despite subdued demand and a challenging operating environment.

The company had posted a net profit of ₹536.61 crore in the same quarter a year ago, according to a late-night regulatory filing on Thursday by Britannia Industries.

Britannia Industries' revenue from the product sales rose 9% to ₹4,375.57.30 crore in the March quarter.

Its revenue from the operation increased 8.9% to ₹4,432.19 crore in the March quarter from ₹4,069.36 crore in the corresponding period of the previous year.

Forex traders said geopolitical tensions between India and Pakistan have sparked risk-off sentiment in the market leading to the rupee weakness. Besides, increased demand for the US dollar further dented investor sentiments.

At the interbank foreign exchange, the domestic unit opened at 85.88 against the greenback, registering a fall of 30 paise over its previous close.

Shares of Titan Company, the country's largest jewellery retailer, rose as much as 4.76% to hit an intraday high of ₹3,530 in an otherwise weak session on Friday, May 9. On the BSE, stock rose as much as 4.95% after it reported strong March quarter earnings.

Its total income increased to ₹14,049 crore for the fourth quarter as compared with ₹11,472 crore in the year-ago period, the company said in a regulatory filing.

For FY25, Titan reported a PAT of ₹3,337 crore, a decline of 5%, against ₹3,496 crore in FY24.

Total income increased to ₹57,818 crore last fiscal from ₹47,501 crore in FY24.

Shares of the country's largest infrastructure company, Larsen & Toubro, rose as much as 4.60% to hit an intraday high of ₹3,477 on the National Stock Exchange after it reported strong set of earnings for March quarter.

Larsen and Toubro’s (L&T) revenue from operations for the quarter under review was at ₹74,392.28 crore, marking a growth of 11% from ₹67,078.68 crore reported in the fourth quarter of FY24.

For Q4 FY25, the company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) jumped 13.4% year-on-year (YoY) to ₹8,202 crore as against ₹7,234 crore in Q4 FY24. Its margin came in at 11% in contrast to 10.8% registered in the corresponding quarter of the previous fiscal.

L&T’s Board of Directors has recommended a final dividend of ₹34 per share of the face value of ₹2 each for the financial year ended March 31, 2025. Last year's final dividend was ₹28 per share.

As many as 45 shares in the NIFTY50 basket were trading lower. Power Grid was top loser in the NIFTY50 index, the stock fell 2.85% to ₹299.50. UltraTech Cement (-2.03%), Jio Financial Services (-1.95%), ICICI Bank (-1.80%) and Tata Consumer Products (-1.75%) were also among the losers.

On the flipside, Larsen & Toubro, the country's largest infrastructure company, rose over 3% after it reported a 25 per cent increase in consolidated profit after tax (PAT) to ₹5,497 crore for the quarter ended on March 31, 2025, supported by higher revenues and an exceptional gain.

The company had posted a PAT of ₹4,396 crore for the year-ago period, L&T said in a filing to BSE.

Revenue from operations increased to ₹74,392.28 crore over ₹67,078.68 crore in the year-ago period, the filing said.

Titan shares surged 4% in an otherwise weak session after its profit rose 13% to ₹871 crore in March quarter from ₹771 crore in the year-ago period.

Total income increased to ₹14,049 crore for the fourth quarter as compared with ₹11,472 crore in the year-ago period, the company said in a regulatory filing.

For FY25, Titan reported a PAT of ₹3,337 crore, a decline of 5 per cent, against ₹3,496 crore in FY24.

Bharat Electronics (3.14%), Tata Motors (2.57%) and Asian Paints (0.21%) were also among the notable gainers.

Most of the sector gauges compiled by the National Stock Exchange were trading lower led by the NIFTY Bank and Financial Services indices 1% fall. FMCG, Media, Metal, IT, Realty and Oil & Gas indices also fell between 1-2%.

On the flipside, defence shares were witnessing buying interest amid rising tensions between India and Pakistan. NIFTY India Defence index rose 0.64%.

Broader markets were also facing selling pressure as NIFTY Midcap 100 index declined 1% and NIFTY Smallcap 100 index dropped 2%.

The Indian equity benchmarks staged a strong recovery at the opening bell as pre-open start was indicating big cuts for both the SENSEX and NIFTY50 indices. The SENSEX in pre-market session was indicating a gap down opening of 1,366 points while NIFTY50 index was indicating a start below 24,000 amid rising tensions between India and Pakistan. However, as of 9:21 am NIFTY50 index fell 0.7% or 182 points to 24,091 and SENSEX was down 360 points or 0.45% at 79,974.

Most of the Asian markets were trading higher taking cues from strong closing of US markets after US President announced a trade deal with United Kingdom.

Japan's Nikkei rose 1.34%, Hong Kong's Hang Seng advanced 0.40%, while South Korea's KOSPI fell 0.18%.

Overnight, US stocks rose Thursday after the United States and United Kingdom announced a deal on trade that would lower some tariffs between the two countries, the first of what Wall Street hopes will be enough agreements to keep a recession from hitting the economy.

The S&P 500 climbed 0.6% for its 11th gain in the last 13 days. The Dow Jones Industrial Average added 254 points, or 0.6%, and the Nasdaq composite rose 1.1%.

NIFTY50 ended in red on Thursday, losing 140 points after tensions between India and Pakistan escalated. The index faced resistance at the 24,500 levels and continues to consolidate in the range of 24,000-24,500. Experts believe a breakdown below the 24,000 levels could take the index to the next level of 24,730.

On the daily charts, NIFTY50 could find support at the 21 EMA levels of 23,954 levels after opening at lower levels on Friday.

Revenue from operations increased to ₹74,392.28 crore over ₹67,078.68 crore in the year-ago period, the filing said.

The company reported a net profit of ₹87.87 crore a year ago, a regulatory filing said.

Total income rose by 60.68% to ₹320.49 crore during the March quarter of 2024-25 from ₹199.45 crore a year ago.

Expenses rose to ₹152.96 crore from ₹92.96 crore in the said period.

The company had reported a net profit of ₹136 crore in the January-March period of the preceding fiscal.

Total revenue rose to ₹4,454 crore in the latest fourth quarter as compared to ₹3,966 crore in the year-ago period, Biocon Ltd said in a statement.

For the year ended March 31, 2025, the company said its net profit declined to ₹1,013 crore as compared to ₹1,022 crore in FY24, it added.

The company had reported a net profit of ₹304 crore for the January-March quarter in FY24.

Its total income rose to ₹3,222 crore for the fourth quarter compared to ₹2,951 crore for the year-ago period, the company said in a regulatory filing.

For the year ended March 31, 2025, the company said its consolidated net profit rose to ₹2,096 crore against ₹1,747 crore in 2023-24.

The total income increased to ₹13,388 crore compared to ₹12,523 crore in FY24.

The agreement was signed in Thimphu by DGPC's MD Dasho Chhewang Rinzin and Adani Green Hydro Ltd's COO (PSP & Hydro) Naresh Telgu in the presence of Prime Minister Dasho Tshering Tobgay, Minister for Energy and Natural Resources Lyonpo Gem Tshering and other senior dignitaries, Adani Group said in a statement.

IRB Infrastructure: IRB Infrastructure on Thursday posted a 10% rise in its toll revenue to ₹554 crore in April compared to Rs 503 crore in the same month last year.

Of its 17 tolls, IRB MP Motorway in Maharashtra contributed the major share of ₹150.7 crore to the total revenue collection in April, up from ₹140.7 crore contribution in April 2024, IRB said in an exchange filing.

Contribution of IRB Ahmedabad Vadodara Super Express Tollway rose to ₹65.4 crore from ₹59.2 crore in 2024, it said.

The public sector bank had reported a net profit of ₹3,951 crore in the year-ago period.

Power generation firm Reliance Power, cargo ship operator Great Eastern Shipping Company, abrasive products company Grindwell Norton, NBFC Manappuram Finance, software developer Intellect Design Arena, pumps and motors maker Shakti Pumps (India), footwear manufacturer Relaxo Footwears, digital maps service provider CE Info Systems, battery maker Eveready Industries India, and private lender Dhanlaxmi Bank, among others, will also release the earnings for the quarter ended Match 2025.

US stocks rose Thursday after the United States and United Kingdom announced a deal on trade that would lower some tariffs between the two countries, the first of what Wall Street hopes will be enough agreements to keep a recession from hitting the economy.

The S&P 500 climbed 0.6% for its 11th gain in the last 13 days. The Dow Jones Industrial Average added 254 points, or 0.6%, and the Nasdaq composite rose 1.1%.

It wasn’t just stocks. Bitcoin jumped back above $101,000, and crude oil prices climbed, while the price of gold eased back as investors felt less need for safety. Treasury yields rose on bets that more trade deals with other countries may mean the Federal Reserve won’t need to cut interest rates as sharply as feared in order to prop up the economy.

Most of the Asian markets were trading higher taking cues from strong closing of US markets after US President announced a trade deal with United Kingdom.

Japan's Nikkei rose 1.34%, Hong Kong's Hang Seng advanced 0.40%, while South Korea's KOSPI fell 0.18%.

India on Thursday night neutralised Pakistan military's attempt to hit military stations in Jammu, Pathankot, Udhampur and some other locations with missiles and drones as tensions soared between the two countries amid fears of a wider military conflict.

Sirens and numerous explosions were reported in Akhnoor, Samba, Baramulla and Kupwara and several other places as the Indian military carried out a massive night aerial vigil along the border with Pakistan.

After the Indian military foiled the Pakistani attempts, the defence ministry said India remains "fully prepared to defend its sovereignty and ensure the safety of its people".