Equity Alert
Infosys rises 5%; co to Thu consider share buyback proposal
This story was originally published at 12:51 IST on 9 September 2025
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Equity Alert: Infosys rises 5%; co to Thu consider share buyback proposal
MUMBAI--1222 IST--Shares of Infosys jumped nearly 5% to an intraday high of INR 1,502.80 after the company said its board will Thursday consider a share buyback proposal. This would be the company's first buyback in around three years. At 1217 IST, the stock traded 4.6% higher at INR 1,499.30 and was by far the biggest gainer in the Nifty 50. The stock broke a five-session losing streak when it fell over 4%.
The company is likely to buy back around 12-13% of its total paid-up share capital, an analyst tracking the sector at a domestic brokerage said. This adds up to around INR 105 billion-INR 114 billion, a back of the envelope calculation showed. The company's total paid-up equity share capital was INR 873.23 billion as of Mar. 31. The analyst also said further upside for the stock would depend on the buyback price and the quantum.
In its last buyback in December 2022, the company had bought back 14.84% of its total paid-up share capital for INR 93 billion. The company usually buys back 12-13% of its paid-up share capital during such operations, various media reports said. In 2019, the company bought back INR 92 billion worth of shares.
At 1217 IST, 7.04 million shares of the company were traded on the NSE, sharply higher than the 1.48 million shares traded till the same time Monday. (Akash Mandal)
Equity Alert: Mkt remains up but selling in consumer-facing cos limits gains
MUMBAI--1145 IST--Benchmark indices remained higher, largely unchanged from the levels touched in early trade Tuesday, with information technology companies as lead gainers. Shares of Infosys, Wipro, Tech Mahindra, and HCL Technologies continued to rise, up 1.5-4%. The Nifty IT index was up 2.5?ter declining for five straight sessions.
At 1140 IST, the Nifty 50 index was at 24847.10, up 74 points or 0.3%. The BSE Sensex was at 81015.48, up 230 points, or 0.3%.
Among automobile companies, shares of Eicher Motors and Hero MotoCorp traded 0.3-1% higher. Morgan Stanley upgraded both companies to equal-weight with a revised target price of INR 7,201 and INR 5,968 respectively. The brokerage downgraded Bajaj Auto to 'underweight' with a target price of INR 8,075, according to CNBC-TV18. Shares of Bajaj Auto were down 0.2%. Shares of Mahindra & Mahindra snapped a four-day winning streak after the stock closed at a record high Monday.
Among index heavyweights, shares of ICICI Bank, Bharti Airtel, and Reliance Industries traded lower, while those of HDFC Bank were up. This is fifth straight session of gains for HDFC Bank. Shares of several consumer-facing companies such as Eternal and Trent limited the gains in the Nifty 50. Zomato-owner Eternal was down 1.4%. Jewellery companies were down with Titan and Kalyan Jewellers around 1% lower each.
Shares of Glenmark Pharmaceuticals were up more than 2?ter the company Tuesday said its step-down subsidiary Ichnos Glenmark Innovation received $700 million as upfront payment from New York-based AbbVie, as the licensing fee for a cancer drug. Among other pharmaceutical companies, Dr. Reddy's Laboratories was up 2%, and Cipla and Sun Pharmaceuticals also traded higher.
Among Nifty 200 stocks, FSN E-Commerce was among the worst hit, down more than 2%. Shares of the company had hit a three-year high Monday. (Eshitva Prakash)
Equity Alert: IT cos rebound after hitting near 1-mo lows; US rate cut eyed
MUMBAI--1050 IST--Information technology stocks bounced back after falling for four straight sessions, with many of these stocks falling to near one-month lows. These stocks had fallen after reports said the US was considering tariffs on Indian IT services, which would severely hit these companies with most of their revenue coming from US-based clients.
Infosys, Wipro, Tech Mahindra, and Tata Consultancy Services were up 1-4%. At 1037 IST, the Nifty IT was up 2.3% at 35089.30 points and was the top gainer among sectoral indices.
The Nifty IT snapped a five-session winless run, during which it fell 4%. However, increased hopes of a rate cut later this month by the US Federal Reserve post weak economic data is likely to aid sentiment for the sector. This is likely to improve the discretionary spending of US-based clients at a time when tariff-related uncertainty and rapid artificial intelligence-related changes have led to these clients to cut down on spending.
Infosys rose 4?ter the company said its board will meet Thursday to consider a share buyback proposal. The stock has fallen over 6% in the last nine sessions, having ended lower in eight of those sessions. (Akash Mandal)
Equity Alert: Amanta Healthcare lists at INR 135, premium of 7% to IPO price
MUMBAI--1048 IST--Shares of Amanta Healthcare listed at INR 135 on the NSE, a premium of 7% to its issue price of INR 126. At 1045 IST, the stock was at INR 137.50, up 9.1% from the issue price and nearly 2% higher than the listing price. Over 3 million shares of the company have changed hands on the NSE so far.
The company's initial public offering ended Wednesday and was subscribed nearly 83 times, recieving bids for 578.28 million shares against 7 million shares on offer. The portion reserved for non-institutional investors was subscribed 209 times, with bids for 314.14 million shares against 1.50 million shares on offer. Retail investors placed bids for 192.42 million shares, 55 times the 3.5 million shares reserved for the category. The portion reserved for qualified institutional buyers was subscribed 36 times, with bids placed for 71.72 million shares against the 2 million shares on offer.
Amanta Healthcare is a pharmaceutical company that develops, manufactures, and markets a diverse range of sterile liquid and parenteral products. For 2024-25 (Apr-Mar), the company had reported a net profit of INR 105.00 million on revenue of INR 2.75 billion. (Akash Mandal)
Equity Alert: Indices open higher; IT cos lead gains, Infosys rises 4%
MUMBAI--0938 IST--Benchmark equity indices started the session higher with information technology stocks leading the gains. These stocks had fallen over the past week over concern that the US may impose tariffs on the Indian IT sector. Automobile stocks also continued their momentum after the recent GST cuts. Eicher Motors and Maruti Suzuki India were up around 1?ch.
At 0935 IST, the Nifty 50 was at 24836.25 points, up 63.10 points or 0.3%. The BSE Sensex was at 81027.32 points, up 240.02 points or 0.3%. Infosys was up nearly 4?ter the company said its board will meet on Thursday to consider a proposal for share buy back. Wipro, Tech Mahindra, and HCL Technologies were up 1-3%. Other heavyweights such as HDFC Bank, Larsen & Toubro, and Bharti Airtel were also in the green.
Sectoral indices turned mixed after most of them opened the session higher, Nifty IT was up 2% and was by far the biggest gainer. Nifty Pharma and Nifty Financial Services were the other top gainers. Broader market indices turned red after a strong start.
Shares of Aditya Birla Fashion and Retail rose nearly 2?ter NDTV Profit reported that Mostan Stanley has upgraded its rating on the stock to 'overweight' from 'equal-weight' with a target price of INR 131. Railtel Corp. of India was up 6% and was the top gainer in the Nifty 500 after it got a INR 597.70 million from Bihar Education Project Council. (Akash Mandal)
Equity Alert: Morgan Stanley raises target prices of auto cos on GST cut
MUMBAI--0844 IST--Global brokerage Morgan Stanley has raised the target prices and upgraded the ratings of several automobile stocks, according to a report by CNBC-TV18. The brokerage expects lower GST rates, lower interest rates, and implementation of the Eighth Pay Commission recommendations to support demand for automobiles
It argued that GST cuts would trigger price cuts of a scale customers have not seen before. Several automobile makers, including Mahindra & Mahindra, Tata Motors, and TVS Motor Co, have already announced price cuts.
Morgan Stanley upgraded the ratings of Eicher Motors and Hero MotoCorp to "equalweight" and raised target prices by 58-76% to INR 7,201 and INR 5,968, respectively. The brokerage kept an equalweight rating as margin upside is expected to be limited and valuations were full.
It maintained "overweight" ratings for Maruti Suzuki, Hyundai Motor, Mahindra & Mahindra, and TVS Motor, while raising target prices for these stocks by 18-37% to INR 18,360, INR 3,066, INR 4,321, and INR 3,933.
However, the brokerage downgraded Bajaj Auto to "underweight" from "equalweight". It also reduced the stock's target price by 11% to INR 8,075. (Anshul Choudhary)
Equity Alert: Indices may open slightly higher on positive global cues
MUMBAI--0759 IST--Benchmark indices may open slightly higher amid positive cues from global markets. However, analysts are not expecting any sharp gains in the Nifty 50 index until demand improves in the economy and earnings growth of corporates recover from the single-digit growth seen in last few quarters.
The Nifty 50 crossed its immediate resistance of 24800 points intraday on each of the previous three sessions, but failed to close above this level on those occasions. Monday, the Nifty 50 touched an intraday high near 24900 points but faced selling pressure at higher levels and ended the session at 24773.15 points.
The GIFT Nifty contracts indicate the Nifty 50 may again open higher Tuesday, extending the gains in the index over the previous four sessions. The Nifty 50 has risen 0.8% in four sessions. At 0754 IST, the GIFT Nifty September contracts traded at 24935.50 points, down 0.1% from its previous close but up 0.7% from Nifty 50's close on Monday.
Indices in the US closed slightly higher with the Nasdaq Composite ending at its highest closing level. US indices were up 0.2-0.5% Monday. Expectations of lower interest rates due to weak labour market has pushed US indices to record highs in the past several sessions. The CME FedWatch tool showed a nearly 90% probability of a 25-basis-point rate cut by the US Federal Reserve in its meeting next week. Some market participants even expect a sharper cut with over a 10% probability of a 50-basis-point rate cut.
Asian markets were mostly higher with indices in Hong Kong, Japan, South Korea, and Taiwan gaining in early trade. Japan's Nikkei 225 Day gained for the second straight session after Shigeru Ishiba's resigned from the prime minister's post. Market Participant in Japan expect the next leader from the ruling Liberal Democratic Party to announce fiscal stimulus to boost economy. The Nikkei index was up 0.3% Tuesday and it has gained 1.7% so far this week since Ishiba resigned.
Indices in India are unlikely to see major gains Tuesday despite several measures by the government to boost consumption such as lower Goods and Services Tax and tax benefits announced in the Budget, analysts said. These announcement may aid shares of consumption-driven companies but a significant rise in benchmark indices still hinges on better earnings growth, analysts said. (Anshul Choudhary)
Equity Alert: Asia indices mixed; Japan mkt extends gains, Nikkei over 44000
MUMBAI--0743 IST--Asian indices were mixed in early trade Tuesday after strong recent gains in most indices in the region. The Japanese market extended gains for the fourth straight session on excitement surrounding the country's probable new prime minister.
Japan's Nikkei 225 broke above the 44000 level for the first time ever fuelled by optimism over trade and expectations of increased government spending, Business Today reported. The optimism is following the resignation of Prime Minister Shigeru Ishiba, who was known for his hawkish stance, the report said. His departure has boosted prospects for stimulus under Liberal Democratic Party contender Sanae Takaichi, a supporter of government spending and monetary easing.
Hong Kong's Hang Seng was up 1.1% and was the biggest gainer among regional indices. Dahon Technology (Shenzhen) Co., which is China's biggest maker of folding bicycles, surged over 36% from its IPO price on its debut on the Hong Kong market, Bloomberg reported.
The Australian market was lower in early trade, weighed down by a fall in banking, energy, and mining stocks. The energy sector posted its weakest showing since July as softer oil prices hurt outlooks, Finimize reported. Major banks such as ANZ, which have a very high weightage on the Australian market, were also in the red.
Following were the levels of key Asian indices at 0734 IST:
|
INDEX |
LEVEL |
CHANGE IN % |
|
CSI 300 Index |
4465.5932 |
(-)0.04 |
|
Hang Seng Index |
25911.12 |
1.08 |
|
Nikkei 225 Day |
43818.56 |
0.40 |
|
TOPIX FIRST SECTION |
3141.80 |
0.11 |
|
KOSPI |
3239.54 |
0.62 |
|
FTSE Singapore Strait Times |
4300.34 |
(-)0.19 |
|
S&P/ASX 200 Index |
8794.30 |
(-)0.62 |
(Akash Mandal)
Equity Alert: Rate cut hope lifts Nasdaq to new high; minimum 25 bps cut seen
MUMBAI--0721 IST--Stock indices in the US ended slightly higher Monday with the Nasdaq Composite notching a fresh high. Increased hopes of a rate cut by the US Federal Reserve later in the month following weak non-farm payrolls data aided sentiment. There is an 89% chance of a 25-basis-point cut in the meeting this month, while there is an 11% chance of a 50 bps cut, according to the CME Fedwatch tool.
"The focus is on next Wednesday's Fed rate cut; the market is greedy...its already discounted 25 basis points. Now, if people are buying because they expect 50 bps, well, that's not going to happen," Reuters quoted Jake Dollarhide, chief executive officer of Longbow Asset Management, as saying.
Broadcom extended its rally, gaining over 3% during the session. The chipmaker had Thursday said it expects sharp growth in its artificial intelligence-related verticals. Its market capitalisation has reached $1.6 trillion and the company is the seventh most valuable on Wall Street, Reuters reported.
Robinhood Markets surged 16%, and AppLovin gained 12%--both companies are set to be added to the S&P 500 from Sept. 22. Addition to a major index such as S&P 500 unlocks value for a stock as it can catalyse billions of dollars in trading, with passive funds typically expected to buy massive numbers of shares in the weeks following a stock's addition, CNBC reported.
EchoStar skyrocketed 20% after the telecommunications services firm agreed to sell wireless spectrum licences to Elon Musk's SpaceX for its Starlink network for around $17 billion. Other telecom playes such as AT&T, Verizon, and T-Mobile fell 2-4%.
Following are the closing levels of US indices Monday:
| INDEX | LAST LEVEL | CHANGE IN % |
| Dow Jones Industrial Average | 45514.95 | 0.25 |
| NASDAQ Composite | 21798.699 | 0.45 |
| S&P 500 | 6495.15 | 0.21 |
(Akash Mandal)
End
US$1 = INR 88.11
Edited by Vandana Hingorani
All prices from National Stock Exchange, unless otherwise specified.
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