Welcome Back Investor!

UBS has upgraded India’s market outlook from “Underweight” to “Neutral.” While this signals rising confidence in India's growth story, there's a twist: China still takes the investment crown. In a high-stakes game of value vs. momentum, UBS is doubling down on where the real returns may lie. Here's why global capital is still looking east.

Let’s dive in!

But before we start!

If you find the contents of this email useful, subscribe now & share with your friends.

Today’s Market Menu

• Focal Point: UBS Picks China Over India: A Reality Check for Investors?

• Markets

• Everything else you need to know today

• Mindset: Think like a rich trader before you become one

• Supercharge your Investing Skills with this Video

• Stock Screener to up your game

FOCAL POINT

UBS Picks China Over India: A Reality Check for Investors?

UBS just upgraded India from “Underweight” to “Neutral,” signaling growing confidence in its domestic resilience, earnings momentum, and reform drive. It’s a positive shift, but not a full-throttle endorsement.

Despite the upgrade, UBS still favors China. Why? Attractive valuations, stimulus potential, and a better risk-reward balance are luring institutional capital toward Beijing, not Mumbai.

India’s stumbling block?

High valuations. UBS cautions that the market may already be priced for perfection, leaving little room for upside surprises. The smarter play? Stick to domestic demand and defensives, not volatile global-linked stocks.

As for the China+1 dream, UBS says it’s still more narrative than reality. Without accelerated trade deals and infrastructure wins, India’s supply chain moment is on pause.

In short: India’s looking strong, but global money is still chasing value, and for now, that means China.

Learn AI in 5 minutes a day

This is the easiest way for a busy person wanting to learn AI in as little time as possible:

1. Sign up for The Rundown AI newsletter

2. They send you 5-minute email updates on the latest AI news and how to use it

3. You learn how to become 2x more productive by leveraging AI

Sign up to start learning.

MARKETS

Indian markets saw a slight dip across key indices, reflecting cautious sentiment. The Sensex fell by 315 points (-0.39%) to close at 79,801, while the Nifty 50 dropped 82 points (-0.34%) to 24,246. The Bank Nifty lost 168 points (-0.30%) and the Midcap 100 slid 71 points (-0.13%). While not a sharp correction, this pullback hints at profit-booking and global cues weighing on investor confidence. A wait-and-watch zone for smart money? Possibly. Stay alert, stay sharp.

_{Closing figures as on 24.04.25 (3.30pm IST)}

🔎 In Focus

Stock Performance:

Top Gainers

✅ IndusInd Bank ₹819.75 +3.22% – Banking bulls charge ahead on credit optimism and earnings buzz.
✅ UltraTech Cement ₹12,159 +1.76% – Infrastructure hopes lift cement majors back into the green.
✅ Grasim ₹2,729.20 +1.62% – Diversified strength makes Grasim a quiet market winner.
✅ Tata Motors ₹668.35 +1.28% – EV momentum and export strength keep the wheels turning.

Top Losers

🔻 HUL ₹2,325.30 -4.06% – FMCG giant stumbles, likely hit by margin worries and muted earnings.
🔻 Bharti Airtel ₹1,845.60 -1.91% – Telecom tension rises as investors dial down on growth concerns.
🔻 Eicher Motors ₹5,650.50 -1.56% – High valuation heat cools off this auto heavyweight.
🔻 ICICI Bank ₹1,402.70 -1.52% – Private banking favorite sees profit-booking ahead of earnings..

NIFTY 500: Cautious Drift 

Q4 RESULTS

^{Click on company name for result pdf} 

FROM THE FRONTIER

Everything else you need to know today 

🏨 GIC & SAMHI’s $300M Hospitality Play: Singapore’s GIC has joined forces with SAMHI Hotels to invest $300 million in India’s upscale hotel space. The venture aims to scale operations in top cities while trimming debt and boosting growth.

📉 Gold Dips After ₹1 Lakh Peak, Buy Now?: Gold prices corrected after hitting the ₹1 lakh mark, triggering investor curiosity. Experts suggest this dip could be a strategic entry point, but timing is key in this volatile metal.

📶 Airtel Seeks Dues-to-Equity Deal with DoT: Bharti Airtel has requested the Department of Telecommunications to convert its government dues into equity. The move could ease cash flow pressures and align with Vodafone Idea’s earlier strategy.

📊 India’s FY26 GDP Set at 6.5% Despite Tariff Heat: India’s economy is forecasted to grow 6.5% in FY26, even as U.S. tariff concerns loom. Strong domestic demand and policy stability are expected to cushion global shocks.

💸 FPIs Exit Indian Debt with $2.27B Outflow: Foreign investors pulled $2.27 billion from Indian debt markets in April, the sharpest exit since May 2020. The shift reflects narrowing returns compared to U.S. bonds.

💰 Fund Raising​

✅ NTPC Green Energy plans to raise up to ₹5,000 crore via NCDs in FY26, with board approval set for April 29, 2025.

ONEZERO-F ACADEMY

Think like a rich trader before you become one

Steve Burns’ classic reframes your trading journey as a conversation between a struggling newbie and a seasoned pro, showing how success comes from managing emotions, cutting losses early, and building repeatable systems.

🔍 What You’ll Learn

💡 Mindset over Mechanics: Most losses come not from bad strategies, but from emotional decisions. Fear, greed, and overconfidence are the real enemies.

🧰 Build a Personal System: Rather than copying others, the book guides you to create a trading system based on your style, tolerance, and schedule, swing, intraday, or trend-following.

📉 Lose Small to Win Big: Burns drills the idea that the best traders don’t avoid losses, they manage them well. Position sizing, stop-losses, and emotional detachment become your best allies.

📝 Process Is Everything: Planning, journaling, reviewing trades, these habits separate amateurs from pros. The trade itself? Just the tip of the iceberg.

SUPERCHARGE YOUR INVESTING SKILLS

The golden lessons from 50 years in Investing | Howard Marks

STOCK SCREENER TO UP YOUR GAME

FCF yield

by Jindal Naveen

Market Capitalization > 100 AND
Sales growth 3Years > 20 AND
Profit growth 3Years > 20 AND
Price to Free Cash Flow <5 AND
Price to Free Cash Flow > 0 AND
Price to Earning < ( Sales growth 3Years - 5)

Your Wish is my Command!

Got more feedback or just want to get in touch? Reply to this email and we’ll get back to you.

Thanks for reading.

Until next time!

Mohit & the OneZero-F team

OneZero-F Analytics is SEBI registered Research Entity in terms of SEBI (Research Analyst) Regulations, 2014 with SEBI Research Analyst No: INH000013837. For more details, Click Here.

Click Here for Other DISCLAIMERS & DISCLOSURES