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Citi’s upgraded outlook on Indian equities highlights attractive valuations and expected rate cuts of 50 basis points in April and June, signaling a boost for growth and investor sentiment. Meanwhile, KKR is making waves with a $400 million deal for a 54% stake in HealthCare Global to strengthen its oncology services, and Bain Capital’s rumored $1 billion investment in Manappuram Finance has sparked a 4% share surge, pending official confirmation. It’s an exciting time for India’s financial and healthcare sectors!

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Today’s Market Menu

• Focal Point: Citi Upgrades Indian Stocks to Overweight, KKR Invests in HCG

• Markets

• Everything else you should know today

• Tutorial: How Your Money-Saving Habits Could Be Holding You Back from Wealth

• Supercharge your Investing Skills

• Management Speaks: Sar Televenture, Royal Orchid Hotel, Zen Technologies

• Stock Screener to up your game

FOCAL POINT

Citi Upgrades Indian Stocks to Overweight, KKR Invests in HCG

1. Citi Upgrades India: Global financial services giant Citi has upgraded its outlook on Indian equities, citing more appealing valuations following a recent market downturn. The firm anticipates further monetary easing, projecting a 50 basis point rate cut in both April and June, which could bolster economic growth and investor confidence.

2. KKR Buys Majority Stake in HCG: Global investment firm KKR & Co. Inc. is set to acquire a majority stake of up to 54% in India's HealthCare Global Enterprises Ltd. (HCG) for approximately $400 million. This strategic investment aims to enhance HCG's oncology services across India, reflecting KKR's commitment to expanding its presence in the country's healthcare sector.

3. Bain Capital to Invest in Mannapuram? Shares of Manappuram Finance experienced a 4% uptick following reports of Bain Capital nearing a $1 billion deal to acquire a significant stake in the company. In response, both BSE and NSE have sought clarification from Manappuram Finance regarding the potential transaction. The stock price closed 1.35% higher at Rs. 204.03 a piece.

MARKETS

Indian equity benchmarks fell to eight-month lows, driven by significant losses in financial and IT sectors amid concerns over U.S. economic growth. The NSE Nifty 50 declined by 242.55 points (1.06%) to close at 22,553.35, while the BSE Sensex dropped 856.65 points (1.14%) to 74,454.41.

_{Closing figures as on 24.02.25 (3.30pm IST)}

🔎 In Focus

🔻Financials: The NIFTY Banking slipped 0.67%, driven by foreign institutional investor (FII) outflows. Major banks like HDFC Bank and ICICI Bank saw declines as global interest rate concerns persisted.

🔻Information Technology: IT stocks took a hit, falling 2.71% on worries over potential slowdowns in U.S. tech spending. Heavyweights like Infosys and TCS experienced notable sell-offs.

✅Pharmaceuticals: Pharma emerged as a bright spot with a slight uptick. Healthcare Global Enterprises (HCG) jumped 2.09% following news of KKR's $400 million stake acquisition, boosting optimism in the healthcare space.

↔️Energy & Commodities: Shares of oil and gas companies saw mixed reactions. While Reliance Industries remained subdued, ONGC gained marginally on rising crude oil prices.

🔻Midcap and Smallcap Indices: Both indices fell around 1%, reflecting broader caution, especially in sectors like consumer discretionary and real estate.

🔻Rupee Falls: Rupee slipped 4 paise to close at 86.72 against the US dollar.

NIFTY 500: Pain Continues

Institutional Action

_{Provisional Figures (Rs. in Crores)}

FROM THE FRONTIER

Everything else you should know today 

💹 Strategic: Zaggle Prepaid Ocean Services Limited has entered a five-year strategic partnership with Gujarat International Finance Tec-City Company Limited (GIFTCL) to provide co-branded prepaid citizen cards and a visitor management system, enhancing financial services and security within the GIFT City.

✅ Green: EaseMyTrip's subsidiaries, YoloBus and Easy Green Mobility, have secured Madhya Pradesh's inaugural inter-city electric bus tender. They plan to deploy state-of-the-art electric buses by August 2025, aiming to revolutionize sustainable public transportation in the state.

🤝🏻 Collaboration: Kalyani Powertrain, a subsidiary of Bharat Forge Ltd., has partnered with AMD to manufacture servers in India, integrating AMD's EPYC™ processors to boost the nation's AI and cloud computing infrastructure. This collaboration aims to advance the 'Make in India' initiative by reducing import dependence and fostering local innovation.

🧨Erosion: In 2025, India's stock market experienced a staggering loss of $520 billion, surpassing the combined GDPs of Pakistan and Bangladesh. This significant market erosion has raised concerns among investors and policymakers about the underlying economic factors contributing to such a decline.

💰Order Wins

✅ NBCC awarded a ₹264.16 crore contract by NIT Kurukshetra to serve as the Project Management Consultant for constructing various campus buildings, including academic and residential blocks.

✅ DEV IT has secured a ₹2.4 crore order from the National Informatics Centre Services to design, develop, implement, and maintain application software and a website for the Lok Sabha Secretariat.

ONEZERO-F ACADEMY

How Your Money-Saving Habits Could Be Holding You Back from Wealth

Are Your Money-Saving Habits Holding You Back?" We dive into the fine line between mindful spending and a fear-driven scarcity mindset. While frugality involves intentional financial choices, an excessive focus on saving can hinder personal growth and financial well-being. Burns offers strategies to transition from a limiting scarcity mentality to an empowering abundance mindset.

✅Insights:

👍🏻Frugality vs. Scarcity: Frugality is about deliberate spending aligned with one's values, whereas a scarcity mindset stems from a constant fear of lack, leading to financial anxiety.

👍🏻Emotional Impact: A scarcity mentality can cause chronic stress, poor decision-making, and missed opportunities for personal and financial growth.

👍🏻Time Investment: Overemphasis on minor savings, like excessive coupon clipping, may consume valuable time that could be better spent on income-generating activities.

👍🏻Growth Opportunities: Fear-based frugality might deter individuals from investing in education or tools that could enhance earning potential.

👍🏻Self-Fulfilling Prophecy: Constant focus on insufficiency can perpetuate a cycle of lack, limiting financial progress and life satisfaction.

✅Strategies for Shifting to an Abundance Mindset:

👍🏻Awareness: Recognize and challenge thoughts rooted in scarcity to reshape your financial perspective.

👍🏻Gratitude Practice: Regularly acknowledging existing resources and experiences can shift focus from lack to abundance.

👍🏻Intentional Spending: Allocate funds to areas that enrich your life, aligning expenditures with personal values.

👍🏻Income Expansion: Explore opportunities to increase earnings, such as acquiring new skills or side ventures, rather than solely focusing on cutting expenses.

👍🏻Generosity: Engaging in acts of giving can reinforce a sense of abundance and community connection.

By adopting these approaches, individuals can transform restrictive financial habits into practices that foster growth, well-being, and true financial freedom.

SUPERCHARGE YOUR INVESTING SKILLS

Swiss Army Knife Investment Approach

MANAGEMENT SPEAKS

Management Call Highlights

✅ Sar Televenture is making waves with its latest earnings call, boasting a jaw-dropping 415% sales CAGR over three years and a fresh order for over 1,000 4G/5G towers. Management hinted at “strategic partnerships” and tech upgrades, with MD Raman Aditya noting, “We’re poised for exponential growth in the telecom space.” With a market cap of ₹421 crore and a P/E of 26.9x, this stock is heating up fast.

✅ Royal Orchid Hotels is charging ahead, reporting a 9.52% YoY income jump to ₹94.86 crore in Q3 FY2024-25. The big news? A 292-key hotel near Mumbai’s T2 terminal, set for April 2025, with Chairman Chander K. Baljee saying, “This strengthens our premium portfolio.” Add a pledge to skill 10,000+ students, and with a market cap of ₹1,047.23 crore and P/E of 43.00, they’re blending profit with purpose. 

✅ Zen Technologies is firing on all cylinders, with Q3 FY2024-25 net profit doubling QoQ to ₹30.6 crore and revenue soaring 50% to ₹99.5 crore. Management approved a ₹1,000 crore QIP and set a FY25 sales goal of ₹900 crore, with CMD Ashok Atluri declaring, “Our tech is ready to lead globally.” Known for top-tier defense simulations, Zen’s poised to dominate.

STOCK SCREENER TO UP YOUR GAME

YoY & QoQ OPM Margin Expansion Recent Quarter Tracker

By COOLFUNDOO

Market Capitalization > 100 AND
OPM latest quarter >= 1.05 * OPM preceding year quarter AND
OPM latest quarter >= 1.05* OPM preceding quarter AND
OPM latest quarter > 0 AND
YOY Quarterly sales growth > 0 AND
YOY Quarterly profit growth > 0 AND
QoQ Sales > 0 AND
QoQ Profits > 0

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Mohit & the OneZero-F team

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