Equity Alert
Infosys off highs; co to buy back shrs worth up to INR 180 bln
This story was originally published at 11:22 IST on 12 September 2025
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Equity Alert: Infosys off highs; co to buy back shrs worth up to INR 180 bln
MUMBAI--1105 IST--Shares of Infosys rose over 2% Friday to an over-one-month high of INR 1,542.90. The stock came off highs later.
At 1116 IST, it traded at INR 1,527.40, up 1.2%, and was among the top gainers in the Nifty 50. The company approved the proposal of buyback of up to 100 million shares at INR 1,800 per share.
This buyback represents 2.41% stake in the company for which it will spend up to INR 180 billion. The proposed buyback will be conducted through the tender offer route, the company said. Additionally, it has received exemptive relief from the US Securities and Exchange Commission on certain aspects of the tender offer procedures for the buyback. Infosys had sought this relief due to conflicting regulatory requirements between Indian and US laws for tender offer buybacks.
Thursday, the stock fell 1.5% and was the worst hit in the Nifty 50. The fall came ahead of the decision on the buyback proposal.
Of the 22 brokerage reports on the stock available with Informist, 16 have a 'buy' or equivalent rating on the stock and six have a 'hold' or equivalent rating. The 'buy' recommendations have an average target price of INR 1,865. So far Friday, 6.83 million shares of the company have changed hands on the NSE, higher than 2.90 million shares traded during the same period Thursday.
(Simran Rede)
Equity Alert: Mkt rises tracking gains in global mkts; Nifty 50 up for 8th day
MUMBAI—0939 IST--Benchmark equity indices started the day on a positive note, mirroring tracking gains in global markets. US equity indices hit all-time highs Thursday as higher than expected jobless claims boosted chances of the US Federal Reserve cutting interest rate cuts. Markets in South Korea and Japan also hit fresh intraday highs Friday.
At 0937 IST, the Nifty 50 was at 25056.80, up 51.30 points or 0.2%, and the BSE Sensex was at 81703.33, up 154.60 points or 0.2%. The Nifty 50 managaed to open above 25000 points and maintained that level, which is seen as a psychologically crucial mark.
The 50-stock index is up for the eighth session, post the announced changes in the goods and services tax rates on Sept. 3, the longest run of gains in over a year. India VIX, the market's fear indicator, was down 1.8% at 10.1700, suggesting easing nervousness in the market in the near term. The index is down over 13% so far in September.
Most sectoral indices moved higher, with the Nifty Auto and Nifty Metal leading the gains. The Nifty Auto was up after falling for three previous sessions due to profit booking. It had rallied earlier on the back of optimism over GST refoms. The Nifty Metal is up for the sixth session as sentiment around metal stocks remains positive due to China's aim to cut its steel capacity and production.
The Nifty FMCG was the worst hit sectoral index, down 0.5%. All broader market indices were in the green, with the Nifty Midcap 50 leading the pack, up 0.4%.
Infosys was up 1.5%, among the top Nifty 50 gainers, after the company said it would buy back shares worth INR 180 billion. Shares of JBM Auto topped the pack of Nifty 500 gainers, and were up over 8?ter the company's subsidiary JBM ECOLIFE Mobility secured $100 million long-term capital investment from International Finance Corp. to deploy electric buses across cities in Maharashtra, Assam, and Gujarat. (Simran Rede)
Equity Alert: Asian indices rise Friday on hopes of rate cut in US
MUMBAI--0813 IST--Asian equity indices were up in early trade Friday, tracking sharp gains in the US market due to hope of an interest rate cut after a dismal weekly jobs report in the US. Rate cuts in the US would imply lower borrowing costs globally, easing pressure on the bond market. The CME Fedwatch tool shows a 100% probability of a rate cut by the US Federal Reserve at its meeting on Sept. 16-17.
Indices in South Korea and Japan hit fresh intraday highs. The Kospi rose 1.2%, up for the ninth consecutive session, gaining nearly 8% during this period. Japan's Nikkei rose 0.6%, up for the third consecutive session.
The CSI 300 index rose 0.2?ter closing over 2% higher on Thursday amid reports that local governments in China are planning to pay backlog bills owed to the private sector. Hong Kong's Hang Seng index rose 1%. Shares of Alibaba Group Holding were up 9% in early trade after the company's US-listed depositary receipts gained 8% Thursday.
US CPI rose 0.4% on month in August, the most since January, and higher than expectations of a 0.2% rise. However, market participants bet on rate cuts since weekly jobless claims for the week ended Saturday surged to 263,000, up 27,000. The increase in claims was the highest in nearly four years.
Following were the levels of key Asian indices at 0758 IST:
|
INDEX |
LEVEL |
CHANGE IN % |
|
CSI 300 Index |
4557.7134 |
0.22 |
|
Hang Seng Index |
25911.12 |
1.08 |
|
Nikkei 225 Day |
43818.56 |
0.40 |
|
TOPIX FIRST SECTION |
3157.21 |
0.72 |
|
KOSPI |
3384.02 |
1.2 |
|
FTSE Singapore Strait Times |
4352.38 |
(-)0.1 |
|
S&P/ASX 200 Index |
8879.3 |
0.09 |
(Eshitva Prakash)
Equity Alert: Indices likely to open higher on positive global cues
MUMBAI--0750 IST--Benchmark equity indices are likely to open higher Friday due to positive cues from global markets, where indices rose on expectation of interest rate cuts in the US. However, gains are likely to be limited as the Nifty 50 has already risen for seven straight sessions, gaining 1.7% during this period.
Market participants in the US largely focused on a weak jobs report and ignored a higher-than-expected consumer inflation print. Indices in the US rose 0.7-1.4% on Thursday despite the consumer price index for all urban consumers in August increasing 0.4% on month, while the rise was expected to be 0.2%.
Market participants largely ignored the inflation report as jobless claims in the US for the week ended September came in at 263,000, higher than the 235,000 claims expected. This further cemented expectations of a rate cut by the US Federal Reserve at its meeting next week.
While market participants are almost sure the Fed will cut rates by at least 25 basis points, the weak jobs report fuelled hope of rate cuts at the Fed's meetings in October and December as well. Lower interest rates in the US are expected to further bring down US bond yields and push investors towards emerging markets such as India for higher interest rates.
Asian markets were up, tracking overnight gains in US market. Most indices in Asia gained in early trade with those in Japan, Hong Kong, South Korea, Taiwan, Indonesia, and Australia rising 0.6-1.3%.
Amid postive global cues, GIFT Nifty futures suggest the Nifty 50 may surpass its immediate resistance of 25100 points and may even reach close to 25200 points. At 0723 IST, the GIFT Nifty's September contract was at 25180 points, down marginally compared with its previous close but up 0.7% from the Nifty 50's close on Thursday. The 50-stock index had ended the Thursday's session at 25005.50 points, up 0.1%. (Anshul Choudhary)
Equity Alert: US mkt rises Thu as jobless claims report fuels rate cut hope
MUMBAI--0746 IST--US stock indices hit record highs Thursday as jobless data boosted bets of interest rate cuts by the US Federal Reserve, while market partcipants largely ignored higher-than-expected consumer price index data.
The Consumer Price Index rose 0.4% on month in August, against a 0.2% rise in July, according to the US Bureau of Labour Statistics. Inflation in August was higher than the expected rise of 0.2%. The weekly jobless claims rose to 263,000 for the week ended Saturday, higher than anticipated claims of 235,000.
"While the CPI report is a tad hotter than expected, it will not give the Fed a moment of hesitation when they announce a rate cut next week. If anything, the jump in jobless claims will inject a bit more urgency in the Fed's decision making, with Powell likely signaling a sequence of rate cuts is on the way," CNBC quoted Seema Shah, chief global strategist at Principal Asset Management, as saying.
The CME Fedwatch tool shows a 93% probability of a 25-bps rate cut by the US Fed and a 7% probability of a 50-bps rate cut next week. The probability of an October rate cut also increased and market participants expect a 25-bps reduction.
The Dow Jones led the US indices, up 1.4% with gains in JP Morgan and Goldman Sachs Group, which were up nearly 2?ch. The tech-heavy Nasdaq Composite gained 0.9%, rising for the fourth consecutive session. Shares of Tesla were up 6%. Shares of Warner Brothers were up 29?ter The Wall Street Journal reported that Paramount Skydance was preparing a majority cash bid for Warner Bros. Discovery.
Following are the closing levels of US indices Thursday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6587.47 |
0.85 |
|
NASDAQ Composite |
22043.08 |
0.72 |
|
Dow Jones Industrial Average |
46108 |
1.36 |
(Eshitva Prakash)
US$1 = 88.27
End
Edited by Vandana Hingorani
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