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Informist, Thursday, Aug. 28, 2025                                      Tel +91 (22) 6985-4000

Equity Alert: Most Europe mkts up on US tech giant Nvidia's robust earnings 

MUMBAI--1452 IST--Most European indices were higher Thursday buoyed by strong earnings from US technology giant Nvidia and French spirits maker Pernod Ricard. The pan-European Stoxx 600 index was up 0.3% in early trade, with most regional indices barring UK's FTSE 100 in the green. At 1445 IST, FTSE 100 was down 0.3%, extending losses for the third straight session.  

Nvidia reported robust earnings for the latest quarter, quelling worries over weakening artificial intelligence demand. Though Nvidia said that its sales growth will remain above 50% in the current quarter, signalling the continued resilience of the artificial intelligence boom, its shares slipped later in the session as analysts assessed its data center sales, which missed estimates, and on uncertainty over its China business. Semiconductor stocks in the region saw a mixed trend, with shares of ASML and BESI falling slightly, while those of Infineon and ASM International rising around 1% each.

Shares of Pernod Ricard rose around 7% after it reported a lower-than-expected decline in its annual sales and profit, and forecast improving trends for the second half of 2026. Shares of other French spirits makers, including Remy Cointreau and LVMH also rose over 4% each. With this, France's benchmark CAC 40 index rose 0.7%, after falling 2.8% earlier in the week, as political uncertainty loomed over the potential collapse of the country's minority government in a confidence vote. 

Among other stocks, Delivery Hero rose 3.8% after German online takeaway food company reported a slightly better-than-expected revenue growth for the second quarter. Meahwhile, shares of British renewable energy group Drax dropped 11% after the company announced that it was being investigated by UK regulators. Investors will now focus on the European Union consumer and economic sentiment figures due out later in the day.  

Following were the levels of major European indices at 1445 IST:

(Arya S. Biju)

Equity Alert: Most Asia mkts gain; China shrs keep rallying despite concerns

MUMBAI--1435 IST--Most Asian indices closed higher after a volatile session as worries over Nvidia's outlook and news relating to US President Donald Trump clouded sentiment. China's CSI 300 Index gained nearly 2% and was the best performer in the region.

The Chinese market has gained nearly 10% this month, and is the second-most attractive stock market in the region after Japan, The South China Morning Post reported Bank of America as saying. Some sections remain cautious regarding the rally because of concerns such as the persistent weakness in domestic demand and the long-term housing crisis. However, a Nomura poll showed only 29% of respondents believed the rally in onshore stocks would peter out next month or sooner, while 36% predicted it would last beyond November, The South China Morning Post reported.

On the day, gains in the CSI 300 were led by semiconductor and hardware stocks. Chip stocks continued to rally on China's artificial intellegence push and chip-localization efforts, Dow Jones Newswires reported. SMIC rose 17% to a closing record. Cambricon Technologies surged 16%. China aims to raise the AI penetration rate to over 70% by 2027 and 90% by 2030, which could push Chinese chip stocks even higher. 

Hong Kong's Hang Seng Index closed nearly 1% lower. Taiwan's TAIEX lost 0.5%. These two were the only bourses to end lower.

Following were the levels of key Asian indices at 1432 IST:

(Akash Mandal)

Equity Alert: Vardhman Textiles up; govt extends cotton import duty exemption

MUMBAI--1427 IST--Shares of Vardhman Textiles snapped a five-day losing run and rose 12% to an intra-day high of INR 446.85 after the government extended the import duty exemption on cotton till Dec. 31 from Sept. 30, which will provide significant relief on raw material costs. At 1426 IST, the stock was up 11% at INR 442.15 on the National Stock Exchange. More than 11 million shares of the company changed hands on the bourse so far Thursday, which is a whopping 107 times the 103,000 shares traded during the same period Tuesday. 

The government's extension of the deadline is aimed at supporting cotton exporters further, the government said. Last week, the government had temporarily removed the 11% duty on raw cotton imports till Sept. 30.

For the quarter ended June, the company had reported a consolidated net profit of INR 2.07 billion on revenue of INR 23.86 billion. Of the overall top line, more than 62% accounts for revenue from yarn business and over 36% from the fabric segment, according to the post-earnings investor presentation the company released for the June quarter. It had produced 68,639 tonnes of yarn in the June quarter, up almost 3% on year. It yarn sales volume had grown nearly 4% from the year-ago period to 65,329 tonnes in the reporting quarter. 

The equity market was shut Wednesday on account of Shri Ganesh Chaturthi. Of the three research reports about the company available with Informist, two broking firms have a 'buy' or equivalent rating and the remaining one has a 'sell' view on the stock.  (Anjana Therese Antony)

Equity Alert: Indices fall more; realty, IT stocks remain under pressure

MUMBAI--1400 IST--Benchmark indices extended their intraday losses, dragged down by continued weakness in information technology and financial services stocks. Indices remained lower after opening in the red a day after the additional 25% US tariffs came into effect. At 1356 IST, the Nifty 50 was at 24536.20 points, down 0.7%, and the BSE Sensex was at 80168.50 points, down 0.8%. 

Barring Nifty Consumer Durables, all sectoral indices remained in the red with Nifty Realty, Nifty IT, and Nifty India Defence leading the losses. At 1322 IST, these three indices were down 1.0-1.5%, while Nifty Consumer Durables was up around 1%. Shares of export-focused companies, including textile companies, remained under pressure. At 1336 IST, shares of Page Industries, Raymond and Alok Industries were down 1.3-3.4%, leading the losses in textile stocks.

Among other stocks, shares of Kalyan Jewellers and Titan Co. rose after opening lower following a report by The Economic Times newspaper which said that gems and jewellery exporters Wednesday met commerce and finance ministry officials to discuss a bailout package for the sector to cope with US President Donald Trump's 50% tariffs on Indian goods. At 1342 IST, shares of Kalyan Jewellers and Titan were up over 2% and around 1%, respectively. 

Shares of Ola Electric Mobility rose over 10% to their highest price in over five months. The stock is on a winning run for three straight sessions now and was the top gainer on the Nifty 200. The positive momentum was boosted after the company got the government's production-linked incentive scheme certification for its third-generation scooter portfolio. Shares of Vardhman Textiles rose over 12% after the government extended the exemption of import duty on cotton till Dec. 31.  (Arya S. Biju)

Equity Alert: Jaiprakash Power at 5% upper band as board OKs INR 3 bln capex

MUMBAI--1251 IST--Jaiprakash Power Ventures hit a 5% upper circuit at INR 18.95 after announcing capital expenditure plans to expand solar capacity. The stock snapped a three-session losing run. Trading in the stock was paused as it hit the upper circuit.  

Jaiprakash Power's board approved setting up a solar photovoltaic power plant with a capacity of around 50 megawatts at the company's existing thermal power project site in Bina, Madhya Pradesh, for INR 3 billion. The project is subject to approvals as may be required, including that of the company's lenders, it said. 

Nearly 35 million shares of the company were traded on the NSE before hitting the upper band, compared to the 21 million shares traded in the entire session Tuesday.  (Akash Mandal)

Equity Alert: Mangal Electrical falls 2% after listing; reverses losses

MUMBAI--1025 IST--Shares of Mangal Electrical Industries fell around 2% after listing at nearly 1% discount to its issue price of INR 561. The stock listed at INR 556 Thursday. The share has since reversed its losses and at 1020 IST, it traded at INR 561.55, up 1% from its listing price.

Over 2.93 million shares of the company have changed hands so far on the NSE. The initial public offering of the company, which closed Friday, was subscribed over nine times, with the company receiving bids for 49.67 million shares against the 5.25 million shares on offer. The public offer had only a fresh issue of shares of up to INR 4.00 billion. Ahead of the offer, the company raised INR 1.20 billion from anchor investors by issuing 2.14 million shares at INR 561 per share.

Mangal Electrical processes transformer components, transformer lamination, cold-rolled grain-oriented steel slit coils, amorphous cores, coil assemblies, core assemblies, wound core, toroidal core, and oil-immersed circuit breakers. It also provides engineering, procurement, and construction services for setting up electrical substations catering to the power infrastructure sector. For 2024-25 (Apr-Mar), the company reported a net profit of INR 473.07 million on revenue of INR 5.49 billion.  (Akash Mandal)

Equity Alert: Mkt falls on imposition of 25% extra US tariff, most sectors dn

MUMBAI--0929 IST--Benchmark equity indices opened the session lower after the additional 25% US tariffs came into effect Wednesday. Sectors such as textiles and some other export-focussed companies fell post the tariff imposition. Textile exporters such as Alok Industries, Arvind, Raymond, and Vardhman Textiles were down 1-2%.

At 0926 IST, the Nifty 50 was at at 29539.55 points, down 0.7%, and the BSE Sensex was at 80188 points, down 0.7%. Heavyweights such as Bharti Airtel, ICICI Bank, and HDFC Bank were down 1-2%. All broader market and most sectoral indices were in red. 

Some domestic-focussed sectors such as automobiles rose due to their relative immunity from US tariffs. Hero MotoCorp, Eicher Motors, and TVS Motor Co. were up around 1% each. Shares of other domestic-focussed companies such as Eternal, Asian Paints, and Hindustan Unilever were also up. 

Among other stocks, Jaiprakash Power Ventures hit a 5% upper band at INR 18.95 billion after the company said it would set up a 50 megawatt solar capacity at its existing Madhya Pradesh plant for INR 3 billion. Gujarat Pipavav Port fell over 5% as it trades ex-dividend. Interglobe Aviation was down nearly 5% after large deals were recorded on exchanges at a discount to Tuesday's closing price. Reports said the company's promoter group was the likely seller.  (Akash Mandal)

Equity Alert: Most Asian indices up; Bank of Korea keeps rates steady

MUMBAI--0855 IST--Most Asian indices rose Thursday taking cues from the US markets as they rose ahead of Nvidia's June quarter earnings. Technology giant Nvidia posted higher-than-expected earnings for Apr-Jun with its revenue at $46.74 billion, according to a report by CNBC. 

The Japanese indices were choppy in early trade Thursday after reports that the country's top trade negotiator Ryosei Akazawa cancelled a planned trip to the US. The Nikkei 225 index rose 0.5%. South Korea's Kospi index rose 0.5%. The Bank of Korea kept interest rates steady at 2.5%, a decision that was widely expected. Policymakers said inflation was easing but warned that growth challenges remain, Reuters reported. 

Focus will be on the Indian market that will reopen after Ganesh Chaturthi holiday Wednesday. This will be the first session after the US' additional 25% tariff came into effect. With trade tensions rising in Asia and talks between Japan and the US uncertain, investors are staying cautious.

Following were the levels of key Asian indices at 0851 IST:

(P. Madhu Kumar)

Equity Alert: Benchmark indices seen dn as additional US tariffs take effect

MUMBAI--0833 IST--Benchmark indices are likely to fall Thursday after the additional 25% US tariffs came into effect Wednesday, taking the total effective tariffs on Indian goods to 50%. Alongside tariff-related concerns, the expiry of the monthly contract of the Nifty 50 derivatives on Thursday is also likely to pull down the 50-stock index. 

The 50% tariffs on Indian goods to the US are expected to weigh on the outlook for exports, limiting any sustained recovery in the rupee, analysts said. A weak rupee is another deterrant for foreign investors investing in Indian equities at a time when they are already cautious due to high valuations. 

The derivatives contract of the Nifty 50 also indicates a slow start for the market. At 0808 IST, the August contract was at 24678.50 points, 33.55 points lower than the Nifty 50's latest close. The September contract was at 24796.50 points. Tuesday, the Nifty 50 index closed at 24712.05, down 255.70 points, or 1%, and the BSE Sensex closed at 80786.54, down 849.37 points, or 1%.

Overgnight, indices in the US gained slightly with the S&P 500 closing at a record high. After market hours, technology giant Nvidia reported its second quarter earnings, where its bottom line and top line both beat Wall Street's estimates. However, the stock's futures were down 3% post the earnings. Most Asian bourses were up in early trade Thursday.  (Akash Mandal)

Equity Alert: S&P 500 hits record high; Nvidia futures fall despite Q2 beat

MUMBAI--0759 IST--The US market closed higher Wednesday, with the S&P 500 hitting a fresh record high, ahead of Nvidia's quarterly earnings, seen as a crucial trigger for the ongoing bull market. The S&P 500 gained 0.2% to close at an all-time high of 6,481.40 points, while the Dow rose 0.3%. The Nasdaq Composite ended 0.2% higher.

Shares of Nvidia, which carry the heaviest weight in the S&P 500 at nearly 8%, were little changed. The technology major reported its numbers after market hours, with both its bottom line and top line beating Wall Street's estimates. However, the stock's futures were down 3% post the earnings. "My takeaway is that these (Nvidia) numbers are not unexpected, nor is this reaction...the market has begun to factor in that Nvidia can continue to beat most expectations in spite of headwinds and questions like what they will have to pay to continue selling to China," Reuters reported Nick Frasse, product manager at Vaneck Associates, as saying.

Investors also digested political developments in Washington, where US President Donald Trump's unprecedented removal of Federal Reserve Governor Lisa Cook continued to draw scrutiny. Top White House economic adviser Kevin Hassett said Cook should take leave, even as she readied a lawsuit challenging her dismissal. Despite the turmoil, markets have largely looked past the controversy.

Following are the closing levels of US indices overnight:

(P. Madhu Kumar)

US$1 = INR 87.65

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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