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Informist, Thursday, Aug. 21, 2025                                      Tel +91 (22) 6985-4000

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Equity Alert: Bajaj Finserv up; Jefferies initiates 'buy', sees 24% upside

 

MUMBAI--1114 IST--Shares of Bajaj Finserv rose over 2% Thursday to an intraday high of INR 1,998. Global brokerage Jefferies initiated coverage in the stock with a 'buy' rating and has assigned a target price of INR 2,420. This target price implies a nearly 24% upside to the stock's previous close.

 

The brokerage sees lower borrowing rates beneficial for Bajaj Finance and a steady improvement in the profitability of Bajaj Allianz Life Insurance Co., according to an ET Now's post on X. It expects Bajaj Allianz General Insurance Co. to gain from profitable growth and a hike in the target price of motor's.   

 

Jefferies believes new mutual fund and healthcare ventures, and tech and ventures will add optional value. It sees a limited impact from Allianz's exit from the joint venture with Bajaj Insurance and the entry of Jio Financial Services. Jefferies believes the lending and non-lending platforms are relatively insulated from economic cycles, the post said. It expects a 22% compound annual growth rate in core earnings. 

 

The stock is up after falling in two previous sessions. At 1110 IST, shares of the company traded at INR 1,980.40, up 1.1%. The stock was the top gainer in the Nifty 50 and the Nifty Financial Services index. All stocks in Nifty Financial Services, except HDFC Life Insurance Co. and Jio Financial Services, were up.

 

Of the nine brokerage reports on the stock available with Informist, seven have a 'buy' or equivalent rating and two have a 'hold' or equivalent rating. The average target price of 'buy' recommendations is INR 2,152. So far Thursday, 1.36 million shares of the company changed hands on the NSE, sharply higher than 487,393 shares traded during the same period on Wednesday.  (Simran Rede)

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Equity Alert: Indices near intraday highs as heavyweights remain up

 

 

MUMBAI--1109 IST--Benchmark indices rose further to reach near their intraday highs, on the back of gains in heavyweights such as Larsen & Toubro, Reliance Industries, and ICICI Bank. India's flash manufacturing PMI came in at 59.8 in August, the highest level since January 2008 and higher than the 59.1 reported last month. The metric indicated robust activity in the manufacturing sector, lending some cues towards strong demand in the economy. A reading above 50 signifies expansion in manufacturing activity.

 

At 1105 IST, the Nifty 50 was at 25116.20 points, up 65.65 points or 0.3%, and the BSE Sensex was at 82122.35 points, up 264.51 points or 0.3%. Dr. Reddy's Laboratories, Bharat Electronics, and Cipla were up around 1?ch and were the top gainers in the Nifty 50. Bajaj Finserv was also up 1?ter Jefferies initiated coverage on the stock with a 'buy' rating.

 

Most sectoral indices were higher, with defence and pharmaceutical sectors being the top performers. On the other hand, the Nifty FMCG was the worst performer, having gained for three straight days. Tata Consumer Products, Tata Consumer Products, and Nestle India were down over 1?ch and were among the worst hit constituents on the Nifty 50.

 

Among other stocks, Jupiter Wagons was up nearly 10% and was the top gainer on the Nifty 500. Its subsidiary Tatravagonka Railwheel Factory won an order of INR 2.15 billion to supply a total of 5,376 wheelsets for Vande Bharat trains. Tejas Networks was up over 7?ter a two-session rally. On the other hand, Ola Electric Mobility was down over 6% and was the worst hit in the 500-stock index.  (Akash Mandal)

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Equity Alert: Mkt off highs after rising 0.4% at open; GoM meet on GST eyed

 

MUMBAI--0934 IST--Benchmark indices came off highs, having opened the session higher as sentiment remains positive on the goods and services tax rate rationalisation proposed by the government. The Group of Ministers will meet later in the day to deliberate upon the government's proposal to reform the indirect tax structure.

 

At 0924 IST, the Nifty 50 was at 25064.85 points, up 14.30 points or 0.1%, and the BSE Sensex was at 81942.95 points, up 85.11 points or 0.1%. Both indices were up for the sixth straight session, rising around 0.4% at the open. Most financial services stocks led the gains in the Nifty 50, with Bajaj Finserv, HDFC Life Insurance Co., and SBI Life Insurance Co. up 1-2%. Heavyweight Reliance Industries was up nearly 1%. Other heavyweights such as ICICI Bank and Bharti Airtel were also higher.

 

Most sectoral indices were higher, with Nifty Financial Services and Nifty Realty emerging as the top gainers. Among real estate players, Godrej Properties was up over 2?ter it won a bid worth INR 5.48 billion to acquire a 7.8 acre land parcel in Hyderabad, which has a revenue potential of INR 38 billion. 

 

Among other stocks, Clean Science and Technology was down over 8% and was the worst hit in the Nifty 500 after multiple large deals were executed on the exchanges at a discount to its Wednesday closing price. Reports suggested the company's promoters were the likely sellers. Ola Electric Mobility was down over 4?ter two straight days of gains. On the other hand, Jupiter Wagons, The New India Assurance Co., and Happiest Minds Technologies were up 6-10% and were the top gainers in the 500-stock index.  (Akash Mandal)

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Equity Alert: Seen rising tad more on short covering on day of weekly expiry

 

MUMBAI--0815 IST--Benchmark indices are likely to rise after a muted start to the day of the expiry of the Nifty 50's weekly derivatives contract. Gains are likely to be capped amid high volatility and the 50-stock index is likely to face strong resistance at 25100 points. The index is seen moving in a range of 24850-25100 points.

 

The August contract of the GIFT Nifty indicates a slightly higher start to the market Thursday. At 0803 IST, the GIFT Nifty was at 25108 points, up over 57 points from the Nifty 50's Wednesday's spot close of 25050.55 points, up 69.90 points or 0.3%. The index closed above 25000 points for the first time since Jul. 24. The BSE Sensex closed at 81857.84 points, up 213.45 points or 0.3%.

 

"For now, a 'buy-on-dips' strategy remains the most prudent play, with traders eyeing a breakout above 25,200 to confirm the next leg of upside momentum," Dhupesh Dhameja, derivatives research analyst at SAMCO Securities said in a note.

 

Overnight, indices in the US ended lower, weighed down by technology stocks as investors remain concerned over high valuations. The technology-heavy Nasdaq Composite ended nearly 1% lower, the worst hit among the three benchmark indices. However, most Asian indices were higher in early trade, with Australia's S&P/ASX 200 reaching an all-time high.  (Akash Mandal)

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Equity Alert: Barring Japan, all Asian markets rise; Kospi top gainer

 

MUMBAI--0810 IST--Equity indices in Asia were mixed in early trade Thursday with those in South Korea and Australia leading the gains. Meanwhile, Japan's Nikkei 225 and Topix fell in early trade. Investors in the region now await US Federal Reserve Jerome Powell's speech at Jackson Hole, Wyoming, on Friday.   

 

Japanese indices extended losses from Wednesday as sentiment was hit post a weaker-than-expected trade data. Japan's exports fell 2.6% on year in July, with exports to the US falling over 10%, as per a CNBC report. The 2.6% drop in exports was more than the 2.1% expected by a Reuters poll. At 0809 IST, Nikkei was down 0.4% and Topix was down 0.5%. 

 

South Korea's Kospi snapped a three-day losing run and was nearly 1% higher. The index has fallen 3% since Monday. Meanwhile, Australia's S&P ASX 200 was up almost 1% and was higher for the second straight session. China's CSI 300 was also in the positive territory and was 0.6% higher, while Hong Kong's Hang Seng was marginally higher. 

 

Powell's speech at Jackson Hole will be tracked for cues on chances of a rate cut at the central bank's September meeting. Any comments on the outlook of the US economy will also be keenly eyed. On Thursday, the CME FedWatch Tool showed the probability of a 25-basis-point rate cut in September at 82%, down from 87?ay ago. 

 

Following were the levels of key Asian indices at 0809 IST:

 

INDEX	LEVEL	CHANGE IN %
CSI 300 Index	4298.1347	0.63
Hang Seng Index	25190.13	0.1
Nikkei 225 Day	42704.04	(-)0.43
TOPIX FIRST SECTION	3084.79	(-)0.46
KOSPI	3162.38	1.03
FTSE Singapore Strait Times	4222.7	0.07
S&P/ASX 200 Index	8995.6	0.87

 

 

(Gopika Balasubramanium)

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Equity Alert: Sell-off continues in tech-heavy Nasdaq; Powell's speech eyed

 

 

MUMBAI--0720 IST--The technology-heavy Nasdaq Composite index extended losses and ended in the red on Wednesday, with investors shedding shares of technology companies due to concerns about demand for aritificial intelligence in the future. The two other benchmark US indices – Dow Jones Industrial Average and Nasdaq Composite – ended largely muted. Traders will now track Federal Reserve Chair Jerome Powell's speech at the Jackson Hole Symposium on Friday. 

 

The Nasdaq fell 0.7% to close at 21172.857 points and the S&P 500 closed 0.2% lower at 6395.78 points. The Dow Jones Industrial Average ended Wednesday's session marginally higher at 44938.31 points.

 

Weakness in technology stocks was likely due to concerns about rich valuations and as investors turned risk-averse, exiting their profitable positions. US President Donald Trump's increasing influence over tech companies also made investors rethink their bets. US Commerce Secretary Howard Lutnick is looking into the government buying equity stakes in Intel and other chip-makers, Reuters reported, quoting two people in the know. This was in exchange for grants under the 'CHIPS Act', the report said.

 

"Technology in general is up 40% from its April lows, and the group clearly got ahead of itself," said Art Hogan, market strategist, B. Riley Wealth Management. "Also, if there's anything to the market consensus that we'll see a Fed rate cut, then there will be room for other things to work as well – and there are 493 other stocks in the S&P 500 that are lagging the Mag 7 right now. So, I think there's a bit of a rotation," he added.

 

Minutes from the US Fed's July meeting, where interest rates were held at 4.25-4.50%, showed it appropriate to maintain the target range for the federal funds rate, despite two objections. Powell's remarks on the near-term outlook for interest rates will be keenly watched as traders are almost fully pricing in a rate cut at the September meeting.  

 

Following are the closing levels of US indices Wednesday:

 

INDEX	LAST LEVEL	CHANGE IN %
Dow Jones Industrial Average	44938.31	0.04
NASDAQ Composite	21172.86	(-)0.67
S&P 500	6395.78	(-)0.24

 

(Gopika Balasubramanium)

 

US$1 = INR 86.96

 

End

 

Edited by Akul Nishant Akhoury

 

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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