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Informist, Monday, Sept. 8, 2025                                      Tel +91 (22) 6985-4000

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Equity Alert: SpiceJet down over 5%; posts net loss in Q1 vs PAT year ago

 

MUMBAI--1115 IST--Shares of SpiceJet fell 5.4% on Monday to an intraday low of INR 32.60, the lowest level since Aug. 19. The company on Friday reported a net loss of INR 2.34 billion in the June quarter against a net profit of INR 1.58 billion a year ago. Costs related to grounded aircraft and expenses towards their return to service impacted its profitability in the June quarter.

 

Nuvama Institutional Equities has retained 'hold' rating and target price of INR 40 on the stock but has slashed the estimate for earnings before interest, tax, depreciation, amortisation, and restructuring or rent costs by 14% for 2025-26 (Apr-Mar) and FY27 each. The cut was due to a delayed turnover, it said. The company's qualified institutional placement of INR 30 billion is expected to repay dues and induction of aircraft on ground, which has commenced and a gradual recovery is seen with a full turnaround being a key factor to monitor, Nuvama said.

 

The stock is down for the fourth consecutive session and has fallen more than 9% over this period. Till 1055 IST, shares of the company traded at INR 33.25, down 3.5%. So far Monday, 6.91 million shares of the company have changed hands on the BSE, higher than 2.53 million shares traded during the same period on Friday.

 

Of the four brokerage reports on the stock available with Informist, two have a 'buy' or equivalent rating on the stock and two have a 'hold' rating. The two brokerages, who have a 'buy' or equivalent rating, have a price target of INR 62 while the other two brokerages with 'hold' rating have INR 40 and INR 47 price target.  (Simran Rede)

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Equity Alert: Auto cos surge on BofA target price hikes, GST-led price cuts

 

MUMBAI--1037 IST--Most automobile stocks surged in early trade Monday after global brokerage BofA raised its target price for several Indian automakers. Tata Motors, Mahindra & Mahindra, Bajaj Auto, Ashok Leyland, and Hero MotoCorp were up 2-4%. At 1028 IST, the Nifty Auto was up 2.1% at 26864.40 points and was the top gainer among sectoral indices. 

 

BoFA raised target price on M&M by 7% to INR 4,000, NDTV Profit reported. It also raised its target price on Bajaj Auto and Hero MotoCorp by 8% and 18% to INR 9,600 and INR 5,650, respectively. The brokerage also hiked its target price on TVS Motor, Hyundai Motor India, Maruti Suzuki India, and Eicher Motor by 19-28%. It also raised its target price on Ola Electric Mobility by 7%. 

 

Multiple automakers, including big names such as Maruti Suzuki, Hyundai, M&M, and Tata Motors, have also cut prices across their portfolios in order to pass on the benefits of lower GST to customers. Analysts say this will be important to revive demand across the sector. Hyundai has announced the steepest reductions with prices dropping by up to INR 240,000 on the Tucson and over INR 100,000 on the likes of Venue, Creta, and i20 N Line. 

 

"The GST-led price reductions across the PV sector are set to sharpen affordability and increase demand just ahead of the festive season, with potential to lift industry volumes by 8–10%," ICICI Direct Research said. "M&M's early-mover advantage positions it strongly in SUVs, while Hyundai's aggressive cuts reinforce its play in both mass and premium categories...Tata Motors, with price relief across hatchbacks and SUVs, strengthens its value-driven positioning, while Maruti Suzuki relies on its unmatched reach to convert smaller but impactful reductions into large-scale sales gains," it added.  (Akash Mandal)

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Equity Alert: Steel cos up; Morgan Stanley ups rtg, target price on some cos

 

MUMBAI--1014 IST--Shares of most steel companies rose Monday after global broking firm Morgan Stanley upgraded ratings on several companies and raised their target price as well. The brokerage is optimistic on domestic steel prices and steel demand amid China's anti-involution strategy. 

 

Morgan Stanley expects steel prices to rise as the demand for steel improves, according to a CNBC-TV18 report. China's anti-involution' campaign is to curb excess capacity and price wars in energy and solar supply chains. The country had said it is set to reduce its steel capacity and production. China will lower its steel capacity by 50 million tonnes in 2025 and cut production by 8.5% for the rest of the year, global brokerage firm CLSA had said.

 

Morgan Stanley sees the global factors turning in favour of steel companies, with expectations of a rate cut in the US in September and a weakening dollar seen aiding the sector. It has raised the estimate for steel prices by 3?ch for 2026–27 (Apr-Mar) and FY28. The brokerage firm has upgraded its rating on JSW Steel and Tata Steel to "overweight" and has also raised their target prices to INR 1,300 and INR 200, respectively.

 

It has upgraded Steel Authority of India to "equal-weight" and hiked its target price to INR 140, while it has maintained its "equal-weight" rating on Jindal Steel but has raised its target price to INR 1,150. 

 

Tata Steel and JSW Steel were up 2.3% and 1.7%, respectively, and were among the top gainers in the Nifty 50. Nifty Metal was the second top gaining sectoral index, up 1.2%. The index rose 1.4% to 9814.95 points, just 185 points shy of its immediate resistance of 10000 points.  (Simran Rede)

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Equity Alert: Indices open higher; metal, auto stocks lead gains

 

 

MUMBAI--0939 IST--Benchmark indices opened higher Monday amid heightened volatility as they tracked gains in most Asian indices. However, gains were capped as the market lacked immediate triggers while continued selling by foreign investors and weaker-than-expected jobs data in the US impacted market sentiment. 

 

At 0937 IST, the Nifty 50 was at 24829.70, up 88.70 points or 0.4%, and the BSE Sensex was at 80991.29, up 280.53 points or 0.4%. The India VIX, the fear gauge of the market, was up after falling for three consecutive sessions and at 0937 IST, it was at 10.8850, up 1%. Most automobile and metal stocks lifted the Nifty 50. 

 

Nifty Metal was the top gainer among the sectoral indices, up 0.9%. The rise was led by gains in steel stocks after global brokerage Morgan Stanley upgraded the ratings and the target prices of some steel companies. Tata Steel and JSW Steel were up around 2?ch and were the top gainers in the Nifty 50.

 

Most automobile stocks also rose and led the gains in the market after metal stocks, with Nifty Auto rising 1.1%. BofA Securities raised the target prices on several auto companies. This followed the reduction in the goods and services taxes by the GST Council last week, which will be effective from Sept. 22. Tata Motors and Mahindra & Mahindra were among the top gainers in the Nifty 50, up nearly 2?ch. Several automobile companies have slashed the prices of their products to pass on the benefit of GST reduction to the customers. 

 

Shares of Adani Power were up nearly 5% and were the top gainers in the Nifty 200. The company will set up 570 megawatts of hydroelectric project in Bhutan. Jaiprakash Power hit 5% upper circuit at INR 20.02 and was among the top gainers in the Nifty 500. Reports said Vedanta was eyeing full control of Jaiprakash Power. Vedanta was down 1.5% and was the worst hit in the Nifty 200. 

 

Among sectoral indices, only Nifty Consumer Durables was in the red, down 0.1%. All broader market indices were up 0.1–0.7%, outperforming their benchmark peers.  (Simran Rede)

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Equity Alert: Indices in Japan surge after PM Shigeru Ishiba's resignation

 

 

MUMBAI--0810 IST--Most Asian stock indices were up in early trade Monday, with the Japanese market being the biggest gainer. This was after Japanese Prime Minister Shigeru Ishiba's resignation over the weekend. The Nikkei 225 and the Topix rose 1.7% and 1%, respectively. 

 

Ishiba's resignation followed weeks of mounting pressure over his national election defeat late last year. Koizumi Shinjiro, the agricultural minister and son of a former prime minister, is a likely contender to take the helm, CNBC reported Stefan Angrick, head of Japan and frontier markets economics at Moody's Analytics, as saying. Takaichi Sanae, protegee of the late Prime Minister Abe Shinzo, is also a contender. 

 

The "very positive" reaction of the market to the resignation was "a little bit of surprise", but was reflective of the excitement surrounding Shinjiro and Sanae, CNBC reported Richard Kaye, portfolio manager at Comgest, as saying.

 

South Korea's Kospi was up 0.3%. Kakao, Samsung SDS, and Korea Electric Power rose 1-2%. Australia's S&P/ASX 200 was the worst hit in the region and was down 0.4%.

 

Following were the levels of key Asian indices at 0800 IST:

 

INDEX	LEVEL	CHANGE IN %
CSI 300 Index	4457.0578	(-)0.07
Hang Seng Index	25529.54	0.44
Nikkei 225 Day	43743.71	1.69
TOPIX FIRST SECTION	3137.33	1.03
KOSPI	3214.38	0.29
FTSE Singapore Strait Times	4302.85	(-)0.10
S&P/ASX 200 Index	8832.80	(-)0.43

 

(Akash Mandal)

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Equity Alert: Indices seen in range on mixed cues from global markets

 

MUMBAI--0805 IST--Benchmark indices are likely to be in range Monday amid mixed cues from global markets. Worries about US tariff hitting economic growth and outflows by foreign investors are likely to keep gains in check despite interest rate cuts by the Reserve Bank of India, tax benefits announced in the Budget, and lower GST rates which are set to come into effect from Sept. 22.

 

Measures by the government and the RBI are expected to offset the impact of tarrifs but market participants are likely waiting for demand in the economy to pick up before increasing investments in equity markets, analysts said. "Recent data show little signs of a growth recovery. Cargo, fuel demand, auto sales, loan growth, and power demand remained sluggish on the latest prints," Emkay Global Financial Services said in a note.

 

Investors in the US were spooked by a sharply weaker jobs report Friday that led to worries of economic slowdown even though it means higher possiblity of interest rate cuts in the US. Major indices in the US closed lower Friday with Dow Jones Industrial Average down 0.5%.

 

Non-farm payrolls in August rose 22,000, while economists polled by Reuters had expected a rise of 75,000 jobs. Unemployment rate for August was 4.3%, highest in nearly four years, Reuters reported. This drove expectations of a sharper 50-basis point rate cut in the US Federal Reserve meeting on Sept. 16-17. CME Fedwatch tool showed an 8% probability of a 50-bps cut and 92% probability of a 25-bps cut in interest rates at the September Fed meeting.

 

Weaker jobs report also led to a fall in bond yields in the US, which is positive for emerging markets such as India. Yields on the 10-year US bond fell 7 bps to settle at 4.10% Friday. Most indices in Asian markets were up with indices in Japan gaining over 1?spite the country's Prime Minister Shigeru Ishiba resigning from the post on Sunday.  

 

For domestic markets, GIFT Nifty Futures indicate gains for the Nifty 50 Monday. At 0752 IST, the September futures of the GIFT Nifty contracts were trading at 24898 points, up 0.3% from its previous close and up 0.6% from the Nifty 50's close on Friday. Last week, the Nifty 50 closed at 24741.00 points.  (Anshul Choudhary)

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Equity Alert: US indices decline Fri on poor Aug non-farm payrolls data

 

 

MUMBAI--0739 IST--Stock indices in the US closed lower Friday as worse than expected jobs data weighed on sentiment and fuelled concerns about economic growth. Bank stocks were among the worst hit, with the S&P 500 bank index ending 2.4% lower.

 

Non-farm payrolls data showed the US economy created 22,000 jobs in August, much lower than the 75,000 jobs expected. This also was a sharp slowdown from the increase of 79,000 in July. The weak data added to recent signs of the labour market weakening and is likely to keep the Federal Reserve on track for a widely anticipated interest rate cut later this month. 

 

"It's going to take more than one bad data set for us to dislodge this market at this point," Reuters quoted Pete Mulmat, chief executive officer of IG North America, as saying. BofA Global Research adjusted its outlook for the US market following the jobs report, forecasting a 25-basis-point rate cut each in September and December.

 

Despite a weak market, Broadcom soared over 9% a day after the chipmaker unveiled a $10-billion artificial intelligence chip order from a new customer and forecast fourth-quarter revenue above estimates, Reuters reported. Kenvue fell 9?ter The Wall Street Journal reported, citing people familiar with the matter, that US Health Secretary Robert F. Kennedy Jr. plans to announce that use of the company's pain medication Tylenol by pregnant women is potentially linked to autism. Lululemon Athletica plunged 19% after the yogawear-maker slashed its annual profit forecast the second time in a row. 

 

Following are the closing levels of US indices Friday:

 

INDEX	LAST LEVEL	CHANGE IN %
Dow Jones Industrial Average	45400.86	(-)0.48
NASDAQ Composite	21700.388	(-)0.03
S&P 500	6481.50	(-)0.32

 

(Akash Mandal)

 

End

 

US$1 = INR 88.27

 

Edited by Subhojit Sarkar

 

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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