More Stories

Informist, Wednesday, Sept. 17, 2025                                      Tel +91 (22) 6985-4000

---

Equity Alert: Dev Accelerator hits 5% upper cap after listing at issue price

 

MUMBAI--1015 IST--Shares of Dev Accelerator hit a 5% upper circuit at INR 64.05 instantly after listing at the issue price of INR 61. Its initial public offering ended Friday and was subscribed 64 times with bids placed for 841 million shares as against 13.15 million shares offered. The trading in the company's shares was halted after it hit the circuit. Nearly 5 million shares have changed hands so far. 

 

The company provides integrated services such as sourcing office spaces, customising designs, developing spaces, providing technology solutions, and providing complete asset management. As of May 31, the company had over 250 clients and 28 centres across 11 cities in India, with 14,144 seats covering a total area under management of 860,522 square feet. (Gopika Balasubramanium)

---

Equity Alert: Indices open tad up; IT stocks in focus ahead of FOMC decision

 

 

MUMBAI--0950 IST--Equity indices opened slightly higher on Wednesday amid optimism on India and the US agreeing to intensify efforts to wrap up the trade agreement early. Shares of oil and gas, and information technology companies rose in early trade. The US Federal Open Market Committee will conclude its two-day monetary policy meeting later in the day, with investors looking for a 25 basis points rate cut. 

 

At 0939 IST, the Nifty 50 was at 25333.60 points, up 94.50 points or 0.4%. The 50-stock index extended its gains from Tuesday, taking a breather on Monday before which it saw an eight-day-long rally. The 50-stock index had closed at a two-month-high Tuesday. The BSE Sensex was at 82690.72 points, up 310.03 points or 0.4%. Broader market indices saw  sharper gains than benchmark indices. The Nifty Smallcap 50 gained 0.7%. 

 

Among sectoral indices, Nifty IT was the top gainer, up almost 1%. Large-cap IT majors such as Wipro, Tech Mahindra, and Tata Consultancy Services gained 0.6?ch. In mid-caps, Coforge and Persistent Systems were up 1-3%. 

 

Among individual stocks, Tata Consumer Products rose over 3% and was the top gainer in the Nifty 50 index. Tuesday, the company said it is looking to reclaim market share in the tea market which it lost to rival Hindustan Unilever in 2017-18. Nestle India and HUL traded flat to marginally lower. Shares of Aditya Birla Fashion and Retail rose over 3?ter the company said it launched a new brand, OWND!.  (Gopika Balasubramanium)

---

 

Equity Alert: Emkay sees FMCG sales growth slowing down Q2, recovering in Q3

 

MUMBAI--0837 IST--Indian fast-moving consumer goods players are likely to witness a slower sales growth in the September quarter due to the new goods and services tax rates, effective Sept. 22, said Emkay Global Financial Services in its report on Wednesday. The brokerage said that FMCG players are worried about the loss of sales in September as distributors wait for inventory which entails lower GST.

 

"There is a high chance of slower growth for FMCG players in Q2, as trade is rationalizing inventory, leading to a hit on primary sales. Effective 22-Sept, the 8 days (in Q2) are too few for players to restock trade, given logistic issues (all have different days of stocking)," Emkay Global said in the report.

 

To deal with the risk of loss of sales, companies have started giving "hefty promotions". Some companies are giving discount of 5-10% to distributors, the brokerage said. Margin pressure due to promotions and slower growth is likely to impact the September quarter earning.

 

There is also some confusion about how FMCG companies will transfer the lower GST benefits. "Our checks suggest skepticism about players' approach to the rate-cut benefit pass-on. Some see a measured pass-on across stock keeping unit as regulators will review this, some are taking a portfolio-based approach, dividing the quantum of pass-through across multiple stock keeping unit," the brokerage said in its report. Reducing losses in the stock keeping unit level is difficult as replacing old stickers with new ones is a troublesome process compared with the Universal Product Codes, which is consistent across retailers. 

However, the brokerage remains bullish on the sector's growth from the December quarter as companies are likely to recoup any loss of sales in the September quarter. It said stakeholders, as per their conversations with companies' managements, were upbeat on the long-term outlook. (P. Madhu Kumar)

---

Equity Alert: Nomura starts coverage on Prestige Estates with 'buy' rating

 

MUMBAI--0822 IST--Nomura Global Markets Research has initiated coverage on Prestige Estates Projects with a 'buy' rating and a target price of INR 1,900. This implies a potential upside of 17% from the stock's closing price of INR 1,625.20 on Tuesday.

 

"We believe the company's pan-India growth strategy is superior to peers, and a strong scale-up is likely, particularly
in Mumbai and the Delhi National Capital Region, driven by both mid-income township and luxury projects," Nomura said in its research report. Superior execution should help scale the company's earnings before interest, tax, and amortisation for its annuity and hotel segments by four-to-five times over the next 4-5 years, the brokerage said.

 

The brokerage also expects the company to beat its 2025-26 (Apr-Mar) pre-sales guidance of INR 260 billion by 10%. "As we assume PEPL (Prestige Estates) to meet 70-80% of its FY26 launch target (of 29 million square feet), there could be further upside to our FY26 pre-sales estimates," it added. The stock is also trading at attractive valuations, at a 40% premium to net asset value, which is lower than Godrej Properties' 108%.

 

"We believe PEPL's annual OCF (operating cash flow) of INR 70-80 bln is largely sufficient to meet annuity capex of INR 30-35 bln and growth capex of INR 40-50 bln," the brokerage said. Fundraising from the listing of the company's hospitality subsidiary could help keep net debt in check, it added. The brokerage pointed to a slowdown in the Bengaluru real estate market and weaker-than-expected leasing of annuity assets as key downside risks for the company.  (Akash Mandal)

---

Equity Alert: Most indices in Asia down; outcome of US Fed meet eyed

 

MUMBAI--0820 IST--Most equity indices in Asia were down early trade as market participants waited for the US Federal Reserve's decision on interest rates, which is due Wednesday. South Korea's Kospi were over 1% lower after rising for 11 consecutive sessions.

 

Japan's Nikkei 225 index was up 0.2%, continuing to rise for fifth consecutive session despite opening the day in negative territory. The Topix index was down 0.5%. Japan's exports in August fell 0.1% on year, compared to a 2.6?ll in July and Reuter's estimate of a 1.9?ll. Japan's exports to the US dropped 13.8% on year, more than the 10.1?cline recorded in July. Shipments of automobiles fell 28.3% on year in value terms and a similar year-on-year fall was recorded in July. Automobiles were Japan's largest export to the US in 2024, according to CNBC.

 

The FTSE Singapore Strait Times index was 0.3% lower. The country's non-oil domestic exports fell 11.3% on year in August, according to government data. This came against expectations of a 1% rise by Reuters. A fall in demand for specialised machinery, food preparations and petrochemicals dragged down exports, according to data released Wednesday.

 

Chinese government agencies jointly released measures on Tuesday to boost consumption in the country and said they would open up sectors such as internet and culture, according to Reuters. This follows weak readings of Chinese factory output and retail sales in August. The CSI 300 index was flat. Hong Kong's Hang Seng index was 1% higher.

 

The US Federal Reserve's decision on interest rates on Wednesday will be an important point for market participants in Asia as a lower US interest rate would benefit them.

 

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

 

INDEX	LEVEL	CHANGE IN %
CSI 300 Index	4522.4164	(-)0.04
Hang Seng Index	26647.68	0.83
Nikkei 225 Day	44985.26	0.18
TOPIX FIRST SECTION	3156.91	(-)0.36
KOSPI	3416.26	(-)0.96
FTSE Singapore Strait Times	4326.02	(-)0.28
S&P/ASX 200 Index	8823	(-)0.62

 

(Eshitva Prakash)

---

Equity Alert: Mkt likely to open gap up on hope of swift US-India trade deal

 

MUMBAI--0803 IST--Benchmark indices are likely to open gap up but are likely to move in a narrow range after that. Sentiment will be positive after India and the US agreed to intensify efforts for an early conclusion of the bilateral trade agreement that was proposed in February. A favourable trade deal with the US may drive the market higher, analysts said. Export-oriented sectors such as textile, information technology, automobile components, and pharmaceuticals will be in focus during the session.

 

"Domestic markets should trade with positive bias in a rangebound manner ahead of the US Fed policy outcome...post gap-up open, it (Nifty 50) will most likely spend most of the time in range, that's the reason we suggest to utilise dips to buy," Vipin Kumar, assistant vice-president of equity research and senior derivatives analyst at Globe Capital Market, said. Kumar expects the Nifty 50 to move in a range of 25100-25400 points. 

 

The September contract of the GIFT Nifty also indicates that the market is likely to open gap up. At 0755 IST, the contract was at 25386.50 points, up 147.4 points from the Nifty 50's close on Tuesday. The 50-stock index had closed at an over two-month high of 25239.10 points, up 169.90 points or 0.7% on Tuesday. The BSE Sensex ended at 82380.69 points, up 594.95 points or 0.7%.

 

Overnight, indices in the US ended slightly lower on caution ahead of the US Federal Reserve's interest rate decision due late Wednesday. The Fed is widely expected to cut rates by at least 25 basis points. Most indices in Asia were lower in early trade Wednesday ahead of the Fed's policy decision.  (Akash Mandal)

---

Equity Alert: US indices end slightly down ahead of Fed decision on rate cut

 

MUMBAI--0740 IST--Indices in the US fell slightly Tuesday from record high a day ago. The S&P 500 closed lower after hitting intraday highs as market participants were cautious ahead of the US Federal Reserve's monetary policy decision due Wednesday. The two-day Fed meeting kicked off Tuesday and traders expect Fed Chair Jerome Powell to announce the first interest rate cut since December.

 

The Nasdaq Composite, which is largely dependent on technology stocks, closed 0.1% lower with shares of Nvidia Corp., Microsoft Corp., and Palantir Technologies down 1-2%. Shares of Webtoon Entertainment jumped 39?ter a deal with Disney to create a new digital comics platform. Shares of Oracle Corp. were up 1.5% amid media reports of the company continuing its cloud agreement with ByteDance, which owns TikTok. ByteDance had earlier received a deadline of Sept. 17 to divest from the short-video application.

 

The Dow Jones Industrial average fell 0.3%. Shares of UnitedHealth Group were down 2.4%. Among others, shares of Walmart, Home Depot, Golman Sachs, and Salesforce ended lower.

 

The US Commerce Department Tuesday said advance estimates of retail and food services sales in August rose 0.6% on month. This was higher than the 0.2% rise estimated by Reuters.

 

Market participants are betting on an interest rate cut Wednesday and the CME Fedwatch tool shows a 96% probability of a 25-basis point cut and a 4% probability of a 50-bps rate cut. "Any decision to cut by 50 basis points at this stage would appear to be driven more by political pressure than economic necessity. A more measured 25-basis-point cut remains the appropriate response, allowing the Fed to get ahead of a slowdown without overreacting to early signs of strain," Seema Shah, chief global strategist at Principal Asset Management, was quoted as saying, by CNBC.

 

Following are the closing levels of US indices Tuesday:

 

Index	Level	Change in %
S&P 500	6606.76	(-)0.13
NASDAQ Composite	22333.96	(-)0.13
Dow Jones Industrial Average	45757.90	(-)0.13

 

(Eshitva Prakash)

 

US$1 = 87.78

 

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.

NSE: National Stock Exchange

NYSE: New York Stock Exchange

NYMEX: New York Mercantile Exchange

SEBI: Securities and Exchange Board of India

RBI: Reserve Bank of India

 

Internet links:

Securities and Exchange Board of India - http://www.sebi.gov.in

Bombay Stock Exchange - http://www.bseindia.com

National Stock Exchange of India - http://www.nseindia.com

Directory of Indian government websites - http://goidirectory.nic.in

Indian Ministry of Finance - http://www.finmin.nic.in

Reserve Bank of India - http://rbi.org.in

Controller General of Accounts, Government of India - http://www.cga.nic.in

Government's Press Information Bureau - http://www.pib.nic.in

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2025. All rights reserved.