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Moody s downgrade of U.S. debt is fueling concerns about investor appetite for U.S. government bonds, potentially driving yields higher. Rising yields could pressure stocks with elevated valuations, as they represent increased borrowing costs and investment competition. While a trade truce offers some optimism, the downgrade and proposed tax cuts raise concerns about the U.S. fiscal trajectory.

The Bank of Japan is under pressure to change its bond tapering strategy. This is due to a sharp increase in super-long bond yields. Some market participants want the BOJ to buy more bonds. Others suggest halting the tapering of these bonds. The BOJ will review its tapering plan next month.

James Hardie Industries reported a 9% drop in annual profit, leading to a 7% share price decline. The company anticipates weaker-than-expected earnings growth for fiscal year 2026, projecting low single-digit growth in adjusted EBITDA. This outlook is driven by anticipated market volume declines in North America and broader macroeconomic uncertainties impacting home construction costs and consumer sentiment.

Borana Weaves IPO continued to attract strong interest on Day 2, with overall subscription reaching 8.5 times and the retail portion booked 25 times. The IPO s grey market premium (GMP) surged to Rs 60, indicating a potential 28% listing gain. The issue aims to raise Rs 144.89 crore and closes on May 22.

Accretion Pharmaceuticals, a Gujarat-based pharma manufacturer, concluded its SME IPO with a strong subscription of 7.31 times. The IPO, priced at Rs 96-101 per share, aims to utilize proceeds for capital expenditures and facility upgrades. Despite robust financial growth and international presence, the grey market premium remained flat, indicating market caution ahead of its NSE SME platform listing.

Emkay Investment Managers Sachin Shah highlights a mega-trend of US corporates diversifying supply chains globally, benefiting countries like India. He believes India is poised to gain incremental market share in sectors like specialty chemicals and pharmaceuticals. With cooling trade war tensions and increasing FII inflows, India stands out among emerging markets, showcasing its domain expertise and scale.

The outlook by most of the businesses also continue to be fairly optimistic. So, if one selects a decent set of companies, it will not be very difficult to generate a 15% to 20% earnings growth at the portfolio level for the next two years.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources.

Dixon Technologies posted a stellar Q4 performance with PAT soaring 322% YoY to Rs 401 crore, driven by a 121% revenue jump to Rs 10,293 crore. Operating profit grew 143%, supported by a Rs 250 crore exceptional gain. For FY25, revenue rose 120% to Rs 38,860 crore, while PAT nearly tripled to Rs 1,096 crore, reflecting strong demand and improved margins.