The Nifty Financial Services Index (FINNIFTY), which tracks the performance of financial sector stocks including banks, housing finance, insurance, and other financial services, ended the trading session on February 17, 2025, with gains of 0.36%.

Despite dipping below 23,000 intraday, the index recovered from lower levels, closing at 23,271, up 84 points from the previous session. This marked an outperformance against the broader Nifty50 index, which saw relatively subdued movement on the day.

HDFC Bank, Bajaj Finserv & SBI Lead the Charge

Among the top contributors to the FINNIFTY’s gains were:
HDFC Bank
Bajaj Finserv
State Bank of India (SBI)

Conversely, the major drags on the index were:
ICICI Bank
Axis Bank  Kotak Mahindra Bank

Market Breadth: Mixed Sentiment in FINNIFTY

The overall market breadth for FINNIFTY reflected a mixed trend, with:

• 9 stocks closing in the green
• 11 stocks ending in the red

Despite the gains, the breadth indicated that a larger proportion of stocks were under pressure, with select heavyweights driving the index’s positive close.

PB Ratio Below 5-Year Average: What It Indicates

The Price-to-Book (PB) ratio of FINNIFTY currently stands at 2.80, which is at its 3 and 6-month low. Additionally, it is:

• Near the lower range of its one-year and two-year levels
• Below the 5-year average PB ratio of 3.52

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

The Nifty Smallcap 100 Index represents the performance of the small-cap segment in the Indian stock market. It comprises 100 tradable stocks listed on the National Stock Exchange (NSE) and is computed using the free-float market capitalisation method. This means the index level reflects the total free-float market value of all its constituent stocks relative to a base market capitalisation value.

Sharp Decline Followed by a Reversal

On February 17, 2025, the Nifty Smallcap 100 Index opened lower and continued its downward trajectory, touching a fresh 8-month low. At one point, it appeared that the index would extend its losing streak for an 8th consecutive session. However, a late-session recovery allowed the index to close in positive territory, effectively snapping the 7-day decline.

Market Breadth Remains Mixed

Despite the rebound, market breadth remained slightly skewed towards declines. Out of the 100 stocks in the index:

• 53 stocks ended in red
• 46 stocks closed in green

Performance in 2025: A Sharp Correction

The recent decline in the Nifty Smallcap 100 Index has been significant:

• Weekly drop: In the past week alone, the index registered a sharp 9.41% decline, marking one of its steepest falls in recent times.
• Year-to-date (YTD) performance: So far in CY 2025, the index has fallen by nearly 18%.

This downturn comes after strong back-to-back gains in CY 2023 and CY 2024, highlighting the cyclical nature of small-cap stocks. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

The Nifty Bank Index, which tracks the performance of the most liquid and large Indian banking stocks, started Monday’s session on a weak note, slipping below the previous session’s low. However, buying support at lower levels led to a sharp recovery, with the index gaining over 750 points from the day’s low to close in positive territory.

By the end of the session, the Nifty Bank Index settled 0.32% higher, outperforming the broader Nifty50 Index. This recovery indicates that market participants found value at lower levels, driving banking stocks higher in the latter half of the trading session.

Stock Performance: Winners and Laggards

Among the 12 banking stocks that make up the Nifty Bank Index, 7 ended in the green, while 5 closed in the red.

• Top Contributors: HDFC Bank and SBI led the gains, supporting the index’s positive closing.
• Top Drags: ICICI Bank and Axis Bank were the biggest underperformers of the session.

Year-to-Date and February Performance

Despite Monday’s positive close, the Nifty Bank Index is down by over 3% in CY2025 so far. Within February, the index has recorded a modest decline of 0.66%.

Valuation Check: Price-to-Book Ratio Trends

A crucial valuation metric for banking stocks, the Price-to-Book (P/B) ratio, currently stands at 2.16 (as of February 14, 2025).

• This P/B ratio is trading near the lower range of the 1, 3, and 6-month periods, suggesting that banking stocks may be relatively undervalued compared to recent trends.
• Additionally, it is below the 1-year, 2-year, and 5-year P/B average, indicating that the banking sector is currently priced lower than its historical valuation benchmarks.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

The NSE benchmark Nifty50 index opened on a weak note, slipping further to touch a fresh 8-month low. However, as the trading session progressed, the index saw a sharp recovery of over 220 points, reclaiming the 22,950 mark. This intraday rebound signalled strong buying interest at lower levels, preventing further downside pressure.

Market Breadth: Majority of Stocks in Green

Despite initial weakness, the overall market sentiment improved as the day progressed. Among the 50 Nifty stocks, 35 were trading in green, while 15 remained in the red. The broader market participation reflected selective buying in specific sectors and heavyweight stocks, aiding the index’s recovery.

Sectoral Performance: Pharma and Metal Lead, IT and Media Lag

The sectoral indices painted a mixed picture:

• Top Gainers: Nifty Pharma and Nifty Metal emerged as the biggest gainers. 
• Top Losers: Nifty Media and Nifty IT witnessed selling pressure. 

Key Contributors and Draggers

A few heavyweight stocks played a crucial role in driving market movements:

• Top Contributors to Nifty50 Gains:
  • HDFC Bank
  • Reliance Industries
  • Bajaj Finserv
• Top Draggers:
  • Bharti Airtel
  • Mahindra & Mahindra (M&M)

Nifty50’s Longest Losing Streak

As of Friday, February 14, 2025, Nifty50 has now declined for 8 consecutive sessions, marking one of its longest losing streaks in recent times.

Lack of Domestic Triggers Shifts Focus to Global Factors

With no significant domestic triggers to drive market direction, investors have turned their focus to global developments, currency movements, and institutional flows. The lack of local catalysts has made markets more sensitive to external influences.

Foreign Selling and Global Concerns Weigh on Markets

Several factors have contributed to the market volatility:

• Relentless selling by Foreign Institutional Investors (FIIs) has added to market weakness.
• Depreciation of the Indian Rupee against the US dollar has further dampened investor confidence.
• Trade tensions between India and the US intensified after US President Donald Trump imposed reciprocal tariffs on Indian exports, triggering concerns over economic growth and trade relations.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

From February 17, 2025, the National Payments Corporation of India (NPCI) has introduced new rules for FASTag users, as per the reports. These changes focus on blacklisted FASTags, transaction delays, and chargeback policies. Here’s what you need to know.

Blacklisted FASTags: Payments Will Be Declined

If a FASTag is blacklisted at the time of scanning, the payment will not go through. If a FASTag has been inactive for more than 60 minutes before reaching the toll and remains inactive up to 10 minutes after crossing, the transaction will be declined with error code 176.

Grace Period for Recharging

Users will now have a 70-minute window before reaching the toll plaza to fix their FASTag status and make sure that the tag is active. This is meant to help avoid payment failures due to insufficient balance or blacklisting.

Double Toll Charges for Blacklisted Tags

If a FASTag is blacklisted when scanned at the toll booth, the user may be required to pay double the toll fee. However, if the tag is recharged within 10 minutes, the user can request a refund for the extra amount paid.

Transaction Delays

Under the new rules, if a toll transaction is processed more than 15 minutes after the vehicle has crossed the reader, the user may face additional charges. If this happens due to insufficient balance, the system will reject the payment, and the toll operator will not be held responsible.

If an incorrect toll deduction occurs due to a blacklisted FASTag or low balance, banks can raise a chargeback request only after a 15-day cooling period. Users will have to wait before filing disputes.

How to Avoid FASTag Issues?

• Make sure of sufficient balance in your FASTag account.
• Check FASTag status before travel.
• Keep track of transaction times to catch delayed deductions.
• Recharge the FASTag at least an hour before travel to avoid last-minute failures.

List Of FASTag Issuing Bank

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Bharat Sanchar Nigam Limited (BSNL) has reported a profit of ₹262 crore in the third quarter of the financial year, marking its first return to profitability since 2007. This milestone highlights the company’s strategic focus on innovation, network expansion, cost optimisation, and customer-centric service enhancements.

Announcing the financial results, BSNL’s Chairman and Managing Director, Shri A. Robert J. Ravi, stated: “We are pleased with our financial performance this quarter, which reflects our focus on innovation, customer satisfaction, and aggressive network expansion. With these efforts, we expect revenue growth to improve further, exceeding 20% by the end of the financial year.”

The company’s revenue from mobility, FTTH (Fibre-to-the-Home), and leased line services has increased by 15%, 18%, and 14%, respectively, over the same quarter last year. Furthermore, BSNL has successfully reduced its finance costs and overall expenditure, leading to a decline in losses by over ₹1,800 crore compared to the previous year.

Key Drivers Behind BSNL’s Profitability

1. Strong Revenue Growth

BSNL’s revenue growth has been driven by its expanding subscriber base and increased adoption of digital services:

• Mobility services revenue grew by 15%.
• FTTH services revenue surged by 18%.
• Leased Line services revenue rose by 14% compared to Q3 of the previous year.

2. Aggressive Network Expansion

To strengthen its position in the Indian telecom market, BSNL has ramped up its 4G rollout and fibre-optic infrastructure upgrades. The company has focused on:

• Enhancing connectivity in both urban and rural areas.
• Expanding its high-speed internet services to meet growing consumer demand.

3. Customer-Centric Digital Innovations

BSNL has introduced several new digital services aimed at enhancing customer experience and increasing engagement:

• National WiFi Roaming – Enables seamless internet access across multiple networks.
• BiTV – Free Entertainment for Mobile Customers – Offers a variety of high-quality digital content.
• IFTV – Exclusive Entertainment for FTTH Customers – Provides enhanced digital streaming services.

4. Cost Optimisation and Operational Efficiency

BSNL has implemented cost-saving measures and process automation to improve efficiency. Notable efforts include:

• A significant reduction in finance costs, leading to ₹1,800 crore savings in annual expenditure.
• Strategic resource management to enhance operational performance and service delivery.

5. Government Support and Strategic Revamp

Government-backed initiatives have played a crucial role in BSNL’s revival, including:

• Spectrum allocation and capital infusion to strengthen network infrastructure.
• Strategic revival measures to bolster long-term sustainability.

BSNL’s Future Growth Strategy

BSNL is committed to sustaining this positive momentum by focusing on the following areas:

• 5G readiness and digital transformation.
• Continued expansion of fibre and mobile networks to drive subscriber growth.
• Revenue growth is expected to exceed 20% by the end of the financial year.

This financial turnaround is a testament to BSNL’s dedication to providing high-quality, affordable telecom services and driving India’s digital connectivity. With an emphasis on innovation and customer experience, the company aims to further strengthen its market position and contribute to the Digital India and Atmanirbhar Bharat vision.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

India’s smartphone exports reached an all-time high of ₹25,000 crore ($3.14 billion) in January 2025, surpassing the total exports of FY21. This marks a staggering 140% year-on-year increase from ₹11,373 crore ($1.31 billion) recorded in January 2024.

Union Minister of Information & Broadcasting, Railways, Electronics & IT, Mr Ashwini Vaishnaw, projected that smartphone exports in FY25 will reach ₹2,25,000 crore ($25.92 billion), following a strong performance of ₹1,35,439 crore ($15.6 billion) in FY24.

Apple Leads the Export Boom

Of the total exports in January, Apple continued its dominance, contributing 70% of the shipments. Key suppliers played a significant role in driving these numbers:

• Foxconn accounted for ₹8,334 crore ($960 million) (33% of total exports).
• Tata Electronics contributed over ₹6,945 crore ($800 million).
• Pegatron exported goods worth more than ₹4,341 crore ($500 million).

The Role of the PLI Scheme in India’s Export Growth

The Production-Linked Incentive (PLI) scheme has played a pivotal role in driving this growth. Introduced to enhance India’s global competitiveness, the scheme addresses cost disadvantages and has encouraged global giants such as Apple to shift their supply chains to India.

Since the scheme’s inception, smartphone exports have shown consistent growth:

• FY21: ₹26,914 crore ($3.1 billion).
• FY24: ₹1,35,439 crore ($15.6 billion).
• FY25 (projected): ₹2,25,000 crore ($25.92 billion).

From 167th to the 2nd Largest Export Category

A decade ago, in FY15, smartphones ranked 167th among India’s total exports. However, by December 2024, smartphones had become the 2nd largest export category, reflecting India’s growing prominence in the global electronics market.

India’s Rising Role in the Global Smartphone Market

With major players ramping up production and the PLI scheme attracting large-scale investments, India is solidifying its position as a key hub for smartphone manufacturing and exports. The shift of global supply chains, led by Apple and its contract manufacturers, is expected to further boost India’s standing in the international market.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.