Equity Alert
Nifty 50 Sept ends at 91.75-point premium to spot index
This story was originally published at 15:43 IST on 17 September 2025
Register to read our real-time news.Informist, Wednesday, Sept. 17, 2025 Tel +91 (22) 6985-4000
Equity Alert: Nifty 50 Sept ends at 91.75-point premium to spot index
MUMBAI--1535 IST--The September futures contract of the Nifty 50 closed at a premium of 91.75 points to the spot index Wednesday. Open interest in the contract fell nearly 1.3% to 15.88 million, according to provisional data.
--Nifty 50 closed at 25330.25 points, up 91.15 points or 0.4% vs Tue
--Nifty 50 September closed at 25422.00 points, up 90.60 points or 0.4% vs Tue
Nifty 50 options, expiring Sept. 23, with maximum change in open interest:
Call: 25500, Put: 25300
Nifty 50 options, expiring Sept. 23, with maximum open interest:
Call: 26000, Put: 25300
(Akash Mandal)
Equity Alert: ICICI Sec sees textile co earnings muted FY26, recovering FY27
MUMBAI--1500 IST--ICICI Securities expects the earnings growth of domestic textile companies to remain muted in the financial year 2025–26 (Apr-Mar), with the imposition of reciprocal and punitive tariffs by the US expected to hit their profitability in the first half of the financial year. However, it expects a recovery in earnings of these companies from FY27 with the anticipated reduction in import tariffs by the US in the second half of FY26, potential favourable trade deals with the UK and the European Union, and increased focus by the companies on improving their regional mix.
With the trade talks between India and the US resuming, the consensus estimate is that the additional punitive tariff of 25% on Indian exports to the US will be removed in the first phase of the trade deal, the brokerage said. "If tariff rate is reduced to 25%, it will provide a level playing field to compete with other key textile-exporting countries such as Bangladesh and Vietnam (which have been hit) with 19-20% tariff," it noted. Further, diversifying the production base in other countries and improving the regional mix of export markets will mitigate risk in the long run for textile companies, ICICI Securities said.
Apart from this, the free trade agreement between India and the UK is expected to result in an additional export opportunity of $1 billion-$2 billion for domestic textile players, the brokerage said. The trade agreement will give Indian textile companies a 12% duty advantage over China. Additionally, better cotton sourcing and lower power and labour costs will give them an edge over countries such as Vietnam and Bangladesh, it noted.
A potential trade deal with the EU will also result in an export opportunity of $2 billion-$3 billion. With incremental orders from the UK and the EU expected to start coming in from FY27, the brokerage sees improvement in revenue for domestic textile players in FY27 and FY28.
Moreover, the recent correction in textile stocks over tariff-led uncertainty in exports to the US and its implications on the businesses of these companies offers a favourable risk-reward ratio in the medium-to-long term, the brokerage said. It has therefore upgraded its rating on Gokaldas Exports to "buy" from "hold" with an improved target price of INR 950, indicating an upside of over 21% from Tuesday's close. The brokerage also maintained its "buy" rating on K.P.R. Mills and assigned a "buy" rating on home textiles manufacturer Indocount Industries with a target price of INR 370. (Arya S. Biju)
Equity Alert: European indices mixed; traders await Fed rate decision
MUMBAI--1443 IST--Indices in Europe were mixed Wednesday after closing in the red Tuesday. Market participants await the US Federal Reserve's interest rate decision due later in the day.
The UK's FTSE 100 index was up 0.2%. The country's August CPI rose 0.3% on month and 3.8% on year, largely in line with market estimates. The print showed an increase in prices of food and non-alcoholic drinks, which rose 5.1% on year. This metric had risen 4.9% in July. Shares of major retailers Marks and Spencer Group and Sainsbury were up 2-3%.
Shares of Dutch delivery company PostNL were up almost 5?ter the company said its parcel segment will be divided into e-commerce and platforms segments from Jan. 1, according to Reuters. Shares of Danish drugmaker Novo Nordisk were up 2% in early trade after Berenberg raised its rating on the company to "buy" from "hold".
Germany's DAX index was up 0.5%. Shares of defence companies Rheinmetall and Hensoldt were up more than 1?ch. Indian troops had Tuesday joined a military drill involving Russian and Belarusian forces near Minsk, capital of Belarus, CNBC said. Shares of Swedish defence company Saab rose more than 2%.
Switzerland's Swiss Leader Index was down for the fourth consecutive session. Italy's MIB index and the French CAC 40 fell 0.1-0.5%.
Following were the levels of major European indices at 1428 IST:
|
Index |
Level |
Change in % |
|
FTSE 100 Index |
9211.07 |
0.17 |
|
CAC 40 |
7811.65 |
(-)0.08 |
|
MIB INDEX |
42294.9 |
(-)0.49 |
|
DAX PERFORMANCE-INDEX |
23405.71 |
0.33 |
|
SLI |
1982.07 |
(-)0.12 |
(Eshitva Prakash)
Equity Alert: Nifty 50 slightly off highs amid fall in metal, FMCG cos
MUMBAI--1450 IST--The Nifty 50 index came off highs slightly due to fall in shares of metal and fast-moving consumer goods companies. However, Gains in banks helped the index manage to stay in green with half of its constituents higher.
At 1430 IST, the Nifty 50 was at 25303.85 points, up 64.75 points or 0.3%, and the BSE Sensex was at 82617.99 points, up 237.30 points or 0.3%. India VIX, the market's fear indicator, was down nearly 1% at 10.2125.
Tata Consumer Products rose nearly 4% and it was the top gainer. Shares of the company rose after falling in the previous three straight sessions. Among banks, shares of State Bank of India were up over 2%. Shares of SBI have gained over 3% in three straight sessions.
Metal companies such as Tata Steel and JSW Steel fell 1.0-1.4%. Owing to this, the Nifty Metal index fell nearly 1% while it was flat just an hour ago. Fall in major fast-moving consumer goods compnaies Hindustan Unilever and Nestle India also limited the gains in the index.
Broader market indices also come off highs. The Nifty Smallcap 50, Smallcap 100, and Smallcap 250 indices were up 0.3-0.5%. (Arundathi AR)
Equity Alert: HSBC sees IT spend of Indian IT cos' US clients up in 2025
MUMBAI--1449 IST--US clients of Indian information technology companies are expected to continue to report strong earnings in the coming quarters, which will lead to higher IT spends in 2025, HSBC Global Investment Research said. "We estimate that gross impact of AI (artificial intelligence) on IT services will be deflation of 8-10%. This will likely be realised over 3-4 years as deals come up for renewal," it said in a report.
The broking firm also see a push-an-pull between this deflatory impact and macroeconomic tailwind, and expects 5-6% growth in IT services in 2026-27 (Apr-Mar), it said. Software companies continue to grow at this stage, which indicates that agentic AI is still not replacing traditional software, HSBC said. Agentic AI helps in making independent decisions to achieve goals with minimal human intervention.
Hyperscaler companies or massive cloud computing providers are aggressively investing in capacity build-up. The annual capital expenditure of the top four US hypercalers--Amazon, Microsoft, Oracle, and Alphabet--is expected to rise to $500 billion by 2030 from more than $200 billion in 2024, HSBC said. "At this rate, depreciation charges for these companies will itself be around $300 billion in 2030 and an implied revenue base of $500 billion-$600 billion, which may suck-up the majority of incremental enterprise tech spend."
Domestic IT companies have been feeling the heat of clients weak spending on technology, high interest rates in the US, and the uncertainty caused by US tariffs. As a result, these companies, particularly large-cap ones, reported weak results compared to their mid-cap peers. However, market experts continue to be optimistic about the sector as the demand environment has not deteriorated as much as expected in the beginning of the June quarter following US President Donald Trump's trade policies. (Anjana Therese Antony)
Equity Alert: Asian indices end mixed; Hong Kong-listed tech stocks soar
MUMBAI--1352 IST--Asian indices ended mixed Wednesday as investors are cautious ahead of the US Federal Reserve's interest rate decision later in the day. Most market participants expect an at least 25-basis-point cut by the US central bank.
Hong Kong's Hang Seng rose 1.8% to its highest level in more than four years due to a surge in technology stocks. South Korea's Kospi closed lower, snapping an 11-session winning run.
Shares of Alibaba Group rose 2?ter Goldman Sachs raised the technology company's target price to $163 from $147 while maintaining a 'buy' rating. Alibaba Group has also signed a deal with China Unicom for deploying its artificial intelligence chips at the latter's new data center at Xining in China, Bloomberg reported.
Shares of Baidu gained over 15?ter the technology company announced Tuesday that it had completed a $658 million offshore bond offering. Global equity firm Arete Research Services has raised Baidu's rating to 'buy' from 'sell', Bloomberg reported. The Chinese CSI 300 index closed 0.6% higher.
Japan's Nikkei 225 fell 0.3%. Data released Wednesday showed Japanese exports in August had contracted less than market expectations, but outbound shipments to US fell nearly 15% on year. Meanwhile, yield on Japan's 20-year bond fell after an auction drew the strongest demand since 2020, according to Mint. The FTSE Singapore Straits Times index was down 0.4%. Singapore's non-oil domestic exports fell more than expected, according to government data released Wednesday.
Following were the levels of key Asian indices at 1348 IST:
|
Index |
Level |
Change in % |
|
CSI 300 Index |
4551.023 |
0.61 |
|
Hang Seng Index |
26920.89 |
1.82 |
|
Nikkei 225 Day |
44790.38 |
(-)0.25 |
|
TOPIX FIRST SECTION |
3145.83 |
(-)0.71 |
|
KOSPI |
3413.4 |
(-)1.05 |
|
FTSE Singapore Strait Times |
4320.75 |
(-)0.39 |
|
S&P/ASX 200 Index |
8818.5 |
(-)0.67 |
(Eshitva Prakash)
Equity Alert: Kotak Equities says valuations still high despite poor returns
MUMBAI--1345 IST--The Nifty 50 has not given any returns over the past 12 months due to expensive valuations for most sectors and stocks, Kotak Institutional Equities said in a report Monday. While weak stock performance should have ideally brought down valuations, Kotak Equities noted that valuations of stocks remain high due to earnings downgrades.
The Nifty 50 was flat over a year despite retail investors continuing to invest in equities, said Kotak Equities and added that several positive points such as relief over income tax, goods and services tax, and interest rates have failed to lift markets over the past 12 months.
Kotak Equities argued that the market's poor performance should dissuade the belief that flows drive market performance. This should also push institutional investors to focus more on earnings and valuations rather than retail flows into mutual funds, the brokerage said.
Kotak Equities expects net profit of the Nifty 50 index companies to rise 9.4% in 2025-26 (Apr-Mar) and 17.6% in FY27. As per the brokerage, gradual recovery is likely in earnings growth over the next few quarters. The growth is expected to be on the back of earnings recovery in banks and non-banking financial companies as loan growth and net interest margins improve. Further, sharp rise in earnings of automobile companies on lower GST may also aid growth in the coming quarters.
The brokerage anticipates a modest increase in earnings growth for information technology companies, citing continued weak demand. It also expects weak capital expenditure and soft demand to limit growth in the investment sector. (Arundathi AR)
Equity Alert: MCX up 5% as SEBI chief hints at plans to widen participation
MUMBAI--1300 IST--Shares of Multi Commodity Exchange of India rose over 5% to an intraday high of INR 8,035 after Securities and Exchange Board of India Chairman Tuhin Kanta Pandey said the regulator will consult the government on widening participation in commodity derivatives. At an event hosted by MCX on Wednesday, Pandey said that SEBI is planning to allow banks and pension funds to participate in commodity trading, according to media reports.
"The Securities and Exchange Board is considering allowing foreign portfolio investors to trade in non-cash settled, non-agricultural derivatives contracts," Pandey was quoted as saying by newspaper Mint. The proposal is part of SEBI's agenda to strengthen the commodities markets and enhanced institutional participation will bring in increased liquidity, Pandey said.
At 1250 IST, shares of MCX were up over 4% at INR 7,965 and were among the top gainers in the Nifty 500 index. So far Wednesday, 903,229 shares of the company have changed hands on NSE, four times the 238,435 shares traded till the same time Tuesday. Of the four brokerage reports on the stock available with Informist, two have a 'buy' or equivalent rating on the stock and the other two have a 'hold' or equivalent rating. (Arya S. Biju)
Equity Alert: HSBC sees 2025 earnings growth to be gradual, to settle at 8-9%
MUMBAI--1245 IST--HSBC Global Markets Research expects earnings growth of Indian companies during 2025 to be gradual, and the risks of slower-than-expected growth are reflected in valuations. While the consensus view sees earnings of companies growing at 11%, HSBC forecasts the growth to settle slower at around 8-9%.
Indian equities have underperformed emerging markets by nearly 3% since mid-September 2024, HSBC said. This was primarily because of slowdown in domestic growth coupled with elevated valuations, it said. Adding to the misery was the 50% tariffs imposed by the US on imports from India which further hit market sentiment. However, resilience shown by domestic investors has boosted the Indian stock market, even when foreign inflows were muted. "To us, this is the strongest supportive factor for Indian markets and can be a powerful force even when foreign inflows are muted," HSBC said.
The domestic macroeconomic conditions turned much more favourable for the domestic equities, it said. Inflation has softened significantly on a year-on-year basis from above 6% in October 2024 to an eight-year low of 1.6% in July. This has allowed the central bank to cut rates and ease lending standards, HSBC said. So far in 2025, the Reserve Bank of India has trimmed the repo rate by 100 basis points to 5.50% and has held it since August. "These slew of measures including the income tax cuts in February and the overhaul in GST (goods and services tax) more recently can help in restoring confidence in the market," the brokerage said.
HSBC stated subdued private capital expenditure as a concern. "Tax cuts can help boost consumption over the near term, but investment and wage growth will have to pick up for a more sustained revival in consumption, the broking firm said. (Gopika Balasubramanium)
Equity Alert: Indices remain higher; PSU banks, auto companies rise
MUMBAI--1230 IST--Benchmark indices remained higher after a positive start to the session Wednesday. Gains in banks, automobile, and select fast-moving consumer goods companies supported the indices. However, losses in metal and some consumer-facing companies limited the rise.
At 1228 IST, the Nifty 50 was at 25332.15 points, up 93.05 points or 0.4% and the BSE Sensex was at 82713.85 points, up 333.16 points or 0.4%. Shares of State Bank of India rose for the third consecutive session and were up 1.5%. Among other public sector banks, shares of Bank of Maharashtra rose over 4% and the company was the best performer in the Nifty 200 index. Shares of Central Bank of India, UCO Bank, Indian Bank were up 2-3%.
Shares of Bharat Electronics rose 2?ter the company said it bagged orders worth over INR 7 billion since its last disclosure on Sept. 1. Shares of the company hit the highest level in over two months at INR 416.65.
Stocks of automobile companies were mostly higher, with Hero MotoCorp, Maruti Suzuki India, and Ashok Leyland rising 1–2%. Eicher Motors, however, bucked the trend, slipping 0.3?ter opening with gains. Shares of Hindalco Industries, Tata Steel, and Jindal Steel fell 0.4-1?ter opening higher. Sectoral index of metal companies was the worst hit and was down 0.3%.
All broader market indices were up and smallcap companies outperformed their benchmark peers. The Nifty Smallcap 50, Smallcap 100, and Smallcap 150 indices rose 0.5-1%. (Eshitva Prakash)
Equity Alert: Gujarat Fluoro down 4?ter large deal at discount
MUMBAI--1143 IST--Shares of Gujarat Fluorochemicals fell over 4% to an intraday low of INR 3,535 after a large deal at a discount to the stock's previous closing price. At 1139 IST, the stock was off lows but still traded 1.2% lower at INR 3,650.
Around 1.34 million shares of the company changed hands on the NSE as soon as the market opened. The deal was executed at an average price of INR 3,560 apiece, a discount of 4% from the stock's closing price of INR 3,695.70 on Tuesday. The total size of the deal is around INR 4.76 billion. Promoter Devansh Trademart is likely to be the seller, NDTV Profit reported.
At 1139 IST, 2.18 million shares of the company were traded on the NSE, sharply higher than the 37,854 shares traded till the same time Tuesday. (Akash Mandal)
Equity Alert: Shringar House of Mangalsutra lists at 14% premium to IPO price
MUMBAI--1115 IST--Shares of Shringar House of Mangalsutra listed at INR 188.50 on the NSE, a premium of 14% to its issue price of INR 165 per share. At 1053 IST, the stock was at INR 183.60, up 11.3% from the issue price but nearly 3% lower than the listing price. Nearly 16 million shares of the company have changed hands on NSE so far.
The company's initial public offering ended Friday and was subscribed 60 times, receiving bids for over 1 billion shares against 17 million shares on offer. Shringar House of Mangalsutra designs, manufactures, and markets a varied range of mangalsutras in India. The company had reported a net profit of INR 611.14 million on revenue of INR 14.30 billion for 2024-25 (Apr-Mar). (Arundathi AR)
Equity Alert: Urban Company lists at INR 162.25; 58% premium to issue price
MUMBAI--1100 IST--Shares of Urban Company listed at INR 162.25 on the NSE Wednesday, a premium of 58% against its issue price of INR 103 per share. At 1029 IST, the company's shares were trading at INR 168.93, up over 64% from the issue price. Over 141 million shares of the company have changed hands on the exchange so far.
The company's initial public offering ended Friday and was subscribed nearly 104 times with bids placed for 11.06 billion shares against the 106.77 million shares on offer. The company raised INR 8.54 billion by issuing nearly 83 million shares to anchor investors.
Urban Company is an online marketplace where customers can connect with independent professionals for services such as household chores, appliance repairing, painting, plumbing, and various grooming services including skincare, hair cutting, and massage therapy. For the June quarter, the company reported a net profit of INR 69.38 million on a revenue of INR 3.67 billion. (Durva A. Shivalkar)
Equity Alert: Bharat Electronics gains over 3%; bags orders worth INR 7 bln
MUMBAI--1045 IST--Shares of Bharat Electronics rose more than 3% to touch an over two-month high of INR 416.65 after the company bagged orders worth INR 7.12 billion this month so far. These orders pertain to information technology infrastructure and cyber security solutions, block chain solutions platform, communication equipment, spares, and services.
Bharat Electronics is expected to receive more key contracts in 2025-26 (Apr-Mar), including electronic systems for missiles, quick-reaction surface-to-air missile, aircraft, submarines, and warships, said ICICI Securities in its report on Wednesday. The company's order inflow has reached INR 113 billion for FY26 and its order backlog now stands at INR 786 billion, providing strong visibility for revenue growth in the near future, the brokerage said. However, the brokerage's technical team recommended its investors to book 50% of profits.
As of 1011 IST, the stock traded over 2% higher at INR 411.80. Over 15 million shares changed hands as compared to nearly 4 million shares traded till the same time Tuesday. Its average daily volume over three months was 17.6 million shares.
Of the 14 brokerage reports available on the company with Informist, 12 brokerage have a 'buy' rating on the stock, with an average target price of INR 414, and two brokerages have a hold rating. (P. Madhu Kumar)
Equity Alert: Tata Consumer up 4%; co plans to reclaim top spot in tea sales
MUMBAI--1025 IST--Shares of Tata Consumer Products rose nearly 4% to a high of INR 1,131.70 after Informist reported that the company was eyeing to reclaim the top spot in tea sales volumes from competitor Hindustan Unilever. At 1022 IST, the stock traded 2.6% higher at INR 1,120 and was the top gainer in the Nifty 500.
The company is looking to reclaim the top spot, which it lost in 2017-18, Puneet Das, president of Tata Consumer Products' packaged beverages business for India and South Asia, told Informist Tuesday. Das said the difference in sales between Tata Consumer Products and Hindustan Unilever is less than 1% in terms of volume and around 4-5% by value.
Media reports said the company has announced price reductions across most of its tea brands, driven by a decline in bulk tea prices. The company expects this fall in prices to continue through the December quarter as new stock flows in. "This is in line with the management guidance given during Q1FY26 where it expected the tea prices to correct by 10% in July-August 2025 on the back of improved rainfall," ICICI Direct Research said in a report. "Also, the price cuts won't have much impact as TCPL had already passed on bulk of tea price increase to consumers in the previous quarters," the brokerage added.
Till 1022 IST, 1.32 million shares of the company were traded on the NSE, sharply higher than the 77,288 shares traded till the same time Tuesday. (Akash Mandal)
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 = INR 87.79
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
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.
To read more please subscribe
Share this Story:
