Weekly Market Recap on April 17, 2025: Markets Rally Strong on BSE’s 150th Anniversary; OYO Faces FIR, IREDA and Waaree Shine in Q4

On Thursday, April 17, 2025, Indian stock markets continued their positive momentum for the fourth day in a row, with significant gains led by major banks and Reliance Industries. This strong domestic rally came despite uncertain global cues due to rising US-China trade tensions.

The BSE Sensex started 76 points lower at 76,968 and dipped to a session low of 76,666. However, it bounced back impressively, soaring 1,951 points from the low to hit a high of 78,617, before settling with a solid gain of 1,509 points or 1.96%, closing at 78,553.

This bullish session held special importance as it coincided with the 150th anniversary of the Bombay Stock Exchange—Asia’s oldest stock exchange—with the Sensex delivering a celebratory rally.

The NSE Nifty 50 followed a similar trend, recovering from its intraday low of 23,299 and climbing to a peak of 23,872. It eventually ended the day up 414 points, or 1.8%, at 23,852.

Major News of This Week

OYO in Legal Trouble

OYO has landed in controversy after a Jaipur-based resort filed a criminal complaint against the company and its founder, Ritesh Aggarwal. The FIR alleges the use of fake bookings, which has now resulted in a hefty ₹2.66 crore GST notice against the company.

IDFC FIRST Bank’s Fundraising Move

IDFC FIRST Bank’s Board has approved a preferential equity issue worth approximately ₹7,500 crore. A significant portion—₹4,876 crore—will come from Currant Sea Investments B.V., a Warburg Pincus affiliate, signalling strong backing from global investors.

Major Q4FY25 Earnings This Week

IREDA

IREDA posted a robust financial performance in Q4 FY25, with Profit After Tax (PAT) surging 49% to ₹502 crore and Profit Before Tax (PBT) rising 31% to ₹630 crore on a year-on-year basis.

Wipro

Wipro reported gross revenue of ₹225 billion ($2.63 billion), up 0.8% from the previous quarter and 1.3% YoY. However, its core IT services revenue slipped 1.2% sequentially and 2.3% YoY, indicating pressure in its main business segment.

Waaree Renewable Technologies

Waaree Renewable Technologies Ltd posted an impressive 83% YoY growth in consolidated net profit, which rose to ₹93.76 crore in Q4 FY25, up from ₹51.31 crore in the same quarter last year.

Conclusion

This week marked a significant boost for Indian equities, buoyed by positive domestic sentiment and key earnings. While legal troubles for OYO raised eyebrows, solid Q4 results from IREDA and Waaree Renewable Technologies showcased resilience in India’s clean energy space. Investors will now closely watch global developments and earnings from other large-cap players in the coming sessions.

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