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Informist, Monday, Jul. 21, 2025                                      Tel +91 (22) 6985-4000

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Equity Alert: Reliance Ind down 3%; analysts see stock moderating near term

 

MUMBAI--1034 IST--Shares of Reliance Industries fell nearly 3% to a low of INR 1,437 as some brokerages said the stock might face a slowdown in the near term. The company's earnings for the June quarter, though strong, missed analysts' estimates on some fronts. However, most brokerages are still upbeat regarding the company's prospects. At 1031 IST, the stock traded 2.1% lower at INR 1,445.10.

 

Macquarie has kept an 'outperform' rating on the stock with a target price of INR 1,500, but the stock could see a moderation in the near term after its strong earnings, ET Now reported the brokerage as saying. Morgan Stanley has an 'overweight' rating on the stock with a target price of INR 1,617. The brokerage said growth in the company's retail and fuel refining business missed its view, but it was bullish on the guidance provided by the company.

 

Jefferies has kept its 'buy' rating on the stock with a target price of INR 1,726. The company's earnings before interest, tax, depreciation, and amortisation was 3?low the brokerage's estimates and retail growth slowed down due to electronics sales moderating on early onset of the monsoon season. The brokerage said focus will now shift to the company's annual general meeting with a possible listing of its Jio subsidiary.

 

Among domestic brokerages, Prabhudas Lilladher has upgraded the stock to 'accumulate' from 'hold' and raised its target price by 4% to INR 1,555 on the possibility of an upturn in the company's new energy segment. However, the brokerage pointed out that the stock may come under pressure in the near term.

 

The company's consolidated net profit for the June quarter rose 78% on year to INR 269.94 billion, sharply higher than analysts' expectations of INR 199.54 billion. However, excluding a one-time gain of INR 89 billion, the company's bottom line missed analysts' estimates by a considerable margin.

 

All 15 brokerage recommendation on the company available with Informist have a 'buy' or equivalent rating on the stock with a target price of INR 1,602. At 1031 IST, 5.90 million shares of the company were traded on the NSE, sharply higher than the 1.50 million shares traded till the same time Friday.  (Akash Mandal)

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Equity Alert: Prabhudas Lilladher upgrades RIL to 'accumulate' from 'hold'

 

MUMBAI--0905 IST--Prabhudas Lilladher upgraded Reliance Industries' stock to 'accumulate' from 'hold' and raised its target price by 4% to INR 1,555 on the possibility of an upturn in the company's new energy segment. The stock had closed flat at INR 1,476 on Friday ahead of its earnings announcement.

 

"The company mentions that the cell manufacturing is expected to be commissioned in 1-2 quarters while the whole new energy ecosystem would take 4-6 quarters to commercialise...in absence of any quantitative details, we introduce valuation of INR 111/share for this segment, valuing it at 2x the earlier announced capex of INR 750 billion," the brokerage said. It, however, pointed out that the stock may come under pressure in the near term.

 

Nuvama Institutional Equities kept a 'buy' rating on the stock with a target price of INR 1,767. "We expect fully integrated 10 GW polysilicon-to-module facility by end-FY26 (2025-26), may add 6% to consolidated PAT...NE (new energy) platform to be self-funded in a few years," the brokerage said. It also said that captive power costs are expected to fall 25%, which might boost the company's consolidated bottom line by an additional 6%. 

 

The company's consolidated net profit for the June quarter rose 78% on year to INR 269.94 billion, sharply higher than analysts' expectations of INR 199.54 billion. This was boosted by a one-time income of over INR 89.00 billion, likely from the stake sale in Asian Paints during the quarter.  (Akash Mandal)

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Equity Alert: Nuvama ups HDFC Bank target price by 3% on strong Q1

 

MUMBAI--0848 IST--Shares of HDFC Bank will be in focus after it reported strong earnings for the June quarter on Saturday. However, Nuvama Institutional Equities said the bank's net interest margin missed its expectations. The brokerage, however, raised its target price on the stock by 3% to INR 2,270 from INR 2,195 and maintained a 'buy' rating. On Friday, the stock had ended at INR 1,957.40, down 1.5%.

 

"Reported NIM fell 19bp (basis points) QoQ, 6bp more than expected while core NIM fell 11bp QoQ in Q1FY26...we note that HDFC reprices its EBLR book faster than peers," Nuvama said in its report. The brokerage, however, said the bank's asset quality stayed best-in-class during the quarter, and the bank used majority of the gains from HDB Financial Services' stake sale towards contingency and floating provisions. "Given a fortified buffer of provisions, which is a traditional strength of HDFC Bank, likely pickup in growth and stability in NIM in H2, we reiterate BUY," the brokerage said.

 

Prabhudas Lilladher has raised the stock's target price to INR 2,150 from INR 2,125 due to increase in valuation of subsidiaries. The brokerage has retained its 'buy' rating. "For FY26/27, we are factoring loan growth of 11%/12% YoY with an LDR (loan-to-deposit ratio) of 92%/90%," it said.

 

HDFC Bank reported a net profit of INR 181.55 billion for the June quarter on a total income of INR 992 billion. Its top line was above analysts' estimates of INR 173.12 billion.  (Akash Mandal)

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Equity Alert: Asian mkt up except Nikkei, S&P ASX; FTSE Singapore up 11th day

 

MUMBAI--0840 IST--Asian indices were up Monday, except for those of Japan and Australia. Japanese market fell after the ruling coalition under Prime Minister Shigeru Ishiba lost control of the upper house in an election Sunday. Meanwhile, indices in China were up after People's Bank of China held its key prime loan rates steady.

 

At 0808 IST, Japan's Nikkei 225 and Topix were down 0.2?ch. In Japan, the ruling coalition needed 50 seats to retain control of the 248-seat upper chamber but with just one seat left to be announced, the coalition was on 47, Japan's public broadcaster NHK reported. However, Prime Minister Ishiba said he has no plans to quit.

 

China's CSI 300 and Hong Kong's Hang Seng were up 0.3% and 0.6%, respectively. China kept its benchmark lending rates steady Monday as it continues to struggle with weak consumer sentiment and softening growth. The People's Bank of China held the one-year loan prime rate at 3.0% and the five-year rate at 3.5%, CNBC reported.  Others such as South Korea's Kospi was up 0.4%. The FTSE Singapore Straits Times gained for the eleventh consecutive session and was up 0.7%. 

Meanwhile, in the Pacific, Australia's S&P ASX 200 was down nearly 1% in early trade. The index fell ahead minutes of Reserve Bank of Australia's July meeting release which is due Tuesday.

 

Following are the levels of key Asian indices at 0808 IST: 

 

INDEX	LEVEL	CHANGE IN %
CSI 300 Index	4075.1795	0.41
Hang Seng Index	24964.90	0.56
Nikkei 225 Day	39819.11	(-)0.21
TOPIX FIRST SECTION	2834.48	(-)0.19
KOSPI	3201.48	0.42
FTSE Singapore Straits Times	4218.92	0.70
S&P/ASX 200 Index	8669.10	(-)1.01

 

(Gopika Balasubramanium)

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Equity Alert: Mkt seen down; RIL, ICICI Bank, HDFC Bank in focus post Q1 results

 

MUMBAI--0825 IST--Benchmark indices are likely to open lower Monday, with index heavyweights HDFC Bank and ICICI Bank seen weaker. Reliance Industries will also be in focus as it reported earnings after close of trading session Friday. The Nifty 50 may fall more as the index ended below its crucial support of 25000 points on Friday.

 

Analysts expect the 50-stock index to remain weak near term in view of the weak start to June quarter earnings, with volatility expected due to stock-specific reactions. The July contract of the GIFT Nifty also hints at a weak start for the market. At 0808 IST, the contract was at 24994.50 points, down 0.1% from its previous close. On Friday, the Nifty 50 ended at 24968.40 points, down 143.05 points or 0.6%. The index fell below 25000 points intraday for the first time since Jun. 24. The BSE Sensex had closed at 81757.73 points, down 501.51 points or 0.6%.

 

Indices in the US ended flattish Friday amid subdued trade after hitting record highs in the previous session. The Nasdaq Composite and the S&P 500 ended broadly flat, while the Dow Jones Industrial Average closed slightly lower. The indices recovered after having dipped midway through the session on reports that US President Donald Trump was pushing for steep 15-20% tariffs in a deal with the European Union.

 

Investors also assessed a host of mixed economic data. Retail sales in the US rose 0.6% in June, higher than the 0.1% rise expected by Reuters. Jobless claims fell by 7,000 to a seasonally adjusted 221,000 for the week ended Jul. 12, the lowest level since April. However, consumer prices rose 0.3% last month, the largest gain since January. Indices in Asia were mixed in early trade Monday.  (Akash Mandal)

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Equity Alert: US indices end largely flat Friday; cryptocurrency stocks gain

 

MUMBAI--0741 IST--US indices closed largely unchanged on Friday, recovering from a brief fall after Financial Times reported the US president is pushing for new steeper tariffs on products from the European Union. Gains were also limited after indices touched record highs during the week, as investors were less influenced by President Donald Trump's tariff policies and confident that his policies may not damage the US economy as severely as anticipated.

 

"People are a little tired of trying to trade tariff headlines or deadlines, and people are more concerned with seeing the proof of this come to fruition through numbers," Greg Boutle, head of US equity and derivatives strategy at BNP Paribas, was quoted as saying by Reuters. A slew of economic data for June released during the week--robust retail sales, a rise in consumer inflation, and flat producer prices--gave mixed signals.

 

The S&P 500 and Nasdaq Composite ended flat, while the Dow Jones Industrial Average closed 0.3% lower. On a week-on-week basis, the S&P 500 gained 0.6%, the Nasdaq rose 1.5%, while the Dow Jones made slight losses. On Friday, cryptocurrency stocks were up after the US House of Representatives passed a bill that would develop a regulatory framework for cryptocurrencies. Shares of Robinhood Markets and Coinbase Global ended up 4.1% and 2.2%, respectively.

 

Some companies also reacted to their June quarter earnings. Of the 59 S&P 500 companies to report second-quarter earnings this season, 81.4% have exceeded Wall Street's earnings expectations, Reuters reported, citing data from LSEG. Charles Schwab ended 2.9% higher after posting higher profits and Regions Financial ended 6.1% higher after its management raised forecasts for 2025 interest income.

 

Following are the closing levels of US indices Friday: 

 

INDEX	LAST LEVEL	CHANGE IN %
Dow Jones Industrial Average	44342.19	(-)0.32
NASDAQ Composite	20895.665	0.05
S&P 500	6296.79	(-)0.01

 

(Gopika Balasubramanium)

 

End

 

US$1 = INR 86.27

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Ashish Shirke

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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NYSE: New York Stock Exchange

NYMEX: New York Mercantile Exchange

SEBI: Securities and Exchange Board of India

RBI: Reserve Bank of India

 

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