More Stories

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

Equity Alert: Indices end lower, weighed down by selling pressure in IT cos

MUMBAI--1539 IST--Headline indices closed lower on Monday, weighed by consistent selling pressure in shares of information technology companies. The fall escalated during the final hour of trade, with the majority of the sectoral indices ending in the red. However, some automobile stocks saw buying interest from investors on Monday. Small-cap indices fell more than mid-cap and benchmark indices.

The Nifty 50 closed at 25202.35 points, down 124.70 points or 0.5%. Information technology stocks, which were weak throughout the session, have a weightage of 10.5% in the Nifty 50, the highest for any sector after 36.8% weight for financial services. The BSE Sensex closed at 82159.97 points, down 466.26 points or 0.6%.

Investors turned cautious after the Trump administration hiked the application fee for H-1B visas to $100,000, putting IT companies, which have employees working in the US, in a tight spot. "We believe Indian IT companies shall mitigate this impact by higher nearshoring/offshoring and/or hiring local talent," Nuvama Institutional Equities said in a report. Earlier in the day, some mid- and small-cap IT companies clarified that they have reduced their reliance on H-1B visas over the last few years. The Nifty IT closed 3% lower at 35500.15 points. Large-caps such as Tech Mahindra, Tata Consultancy Services, Infosys, and Wipro closed 2-3% lower. Others, such as LTIMindtree and Mphasis, fell nearly 5%.

Shares of Adani group companies extended their gains on Monday. The Securities and Exchange Board of India had on Thursday given a clean chit to the Adani group over allegations made by US-based shortseller Hindenburg Research about accounting manipulations. Shares of these companies surged by 7-14% on Friday following SEBI's order. Monday, Adani Power and Adani Total Gas hit the upper circuit of 20%. 

Among the Nifty 200 constituents, seven companies, including Muthoot Finance, JSW Steel, Eternal, L&T Finance, and Polycab India, hit their all-time highs on Monday.  (Gopika Balasubramanium)

Equity Alert: Nifty 50 Sept ends at 73.65-point premium to spot index

MUMBAI--1547 IST--The September futures contract of the Nifty 50 closed at a premium of 73.65 points to the spot index Monday. Open interest in the contract rose 0.7% to 15.12 million, according to provisional data.

--Nifty 50 closed at 25202.35 points, down 124.70 points or 0.5% vs Fri
--Nifty 50 September closed at 25276.00 points, down 135.20 points or 0.5% vs Fri

Nifty 50 options, expiring Sept. 23, with maximum change in open interest:

Call: 25300, Put: 25200

Nifty 50 options, expiring Sept. 23, with maximum open interest:

Call: 25500, Put: 25200

(Akash Mandal)

Equity Alert: Indices remain weak as IT stocks continue to weigh

MUMBAI--1430 IST--Domestic benchmark indices remained weak as investors sold shares of information technology companies following US President Donald Trump's announcement of a hike in the application fee for H-1B visas. Pharmaceutical stocks were also trading lower. However, gains in some financial services and consumer-facing stocks limited the fall of indices.

At 1410 IST, the Nifty 50 was at 25272 points, down 55.05 points or 0.2%. The BSE Sensex was at 82375.32 points, down 250.91 points or 0.3%.

Among the 50-stock index, Tech Mahindra and Tata Consultancy Services fell the most. They were down more than 3%. Infosys, Wipro, and HCL Technologies were down 2-3%. Earlier in the day, many mid-cap IT companies including Coforge, Cyient and Persistent Systems had said they have reduced the dependence of H-1B visas. So far in 2025, Mphasis has applied for 130 new H-1B visas and got approval for 78. Shares of Mphasis, Coforge, and Cyient were down 3.0-4.5%.

Investors also sold shares of pharma companies, with Cipla, Dr. Reddy's Laboratories, and Sun Pharmaceutical Industries trading 1-2% lower. All but four constituents of the Nifty Pharma index were in the red. Torrent Pharmaceuticals was up nearly 1%.

Adani Group companies traded higher, with Adani Power leading the gains. The stock surged 20% to hit its upper circuit at INR 170.25, a level last seen in June 2024, and trading in the stock has been halted ever since. Adani Enterprises, up over 4%, was the top gainer among the Nifty 50 constituents.  Adani Green Energy and Adani Total Gas traded 9-18% higher.

Bajaj Auto rose 2% after the company announced more offers for its motorcycles under 350 cubic centimetre capacity. Along with a 10% cut in tax on motorcycles under 350cc, the company will now also give 50% financing benefits to customers, zero processing charges, and insurance benefits. (Arundathi A R)

Equity Alert: JP Morgan raises NBFCs' target prices; ups L&T Finance to neutral

MUMBAI--1420 IST--Global investment firm JP Morgan has upgraded its rating on L&T Finance to "neutral" from "underweight". JP Morgan also upgraded its target prices for other domestic non-banking finance companies. "We remain selective as we await better entry points and prefer stocks (Shriram Finance and Mahindra & Mahindra Financial Services) that offer value along with the positive earnings impact of the normal monsoons, as well as recent GST (goods and services tax) cuts," NDTV Profit quoted the brokerage as saying Monday.

Non-banking finance companies have outperformed banks by 29% year-to-date, primarily led by a valuation re-rating of 27% due to the Reserve Bank of India's liquidity pivot and rate-cut cycle, the brokerage said. "We believe the valuation re-rating is justified by earnings tailwinds from potential NIM (net interest margin) expansion, as liabilities reprice faster than fixed-rate loans," the brokerage was quoted as saying in the report. However, despite these factors, the brokerage sees limited earnings support so far in the sector on a weak macroeconomic environment, slower-than-expected transmission of rate cuts in earnings of non-banking finance companies, and asset quality issues in select segments. High valuations in select pockets of the sector may limit upside unless earnings grow to match expectations, JP Morgan added.

The brokerage has upgraded the target prices for Shriram Finance, Mahindra & Mahindra Financial Services, Bajaj Finance, SBI Cards and Payments Services, and L&T Finance by 1.4–85.7%. It raised its target price for L&T Finance by around 86% to INR 260 with normalising delinquencies in microfinance and improved visibility of growth and credit outcome expected to be positive for the company.

ICICI Securities also upgraded its rating on L&T Finance to "buy" from "hold" and raised its target price for the stock by 25% to INR 250 with the gradual shift towards the prime segment amid a focus on sustainable and risk-calibrated growth expected to keep business growth steady, it said in a report Monday. At 1415 IST, shares of the company were around 1% higher at INR 248.58 on the National Stock Exchange.  (Arya S. Biju)

Equity Alert: Most European indices fall; auto, airline cos among worst hit

MUMBAI--1414 IST--Decline in shares of automobile companies pushed most European indices into negative territory in early trade Monday. Market participants in Europe await commentary from several US Federal Reserve officials later in the day, including from newly appointed Governor Stephen Miran.

Germany's DAX Performance-Index was 0.2% lower in early trade. Shares of luxury automobile-maker Porsche fell more than 5% after the company cut its profit margin outlook for 2025, according to a CNBC report. The company also delayed several of its electric car models seeing the poor demand. Shares of Volkswagen, Porsche's biggest stakeholder, were down nearly 7%. Shares of BMW and Mercedes-Benz Group fell more than 2% each.

Shares of airline companies in Europe fell after a series of cyberattacks Friday against major European airports forced flight cancellations, according to Dow Jones Newswires. Shares of Air France-KLM, Wizz Air Holdings, and Easy Jet fell nearly 1% each.

Shares of Dutch geo-technical company Fugro fell 7% after the company scrapped its 2025 earnings guidance and announced further job cuts stemming from project delays, according to Reuters.

The UK's FTSE 100 was almost flat and France's CAC 40 was down 0.1%. Traders also await a flash estimate for eurozone consumer confidence, due later in the day.

Following were the levels of major European indices at 1414 IST:

(Eshitva Prakash)

Equity Alert: Most Asian indices close higher; Samsung gains on Nvidia deal

MUMBAI--1320 IST--Most indices in Asia closed higher Monday. China's blue-chip CSI 300 index reversed early losses to end higher after a choppy session. Japan's Nikkei 225 led the gainers in Asia while Hong Kong's Hang Seng closed lower. 

South Korea's Kospi came slightly off highs from earlier in the day but managed to close 0.7% higher. Shares of Samsung Electronics gained nearly 5% after media reports said that Samsung had won approval from Nvidia Corp. to supply advanced memory chips to the latter. This paves the way for using components in AI (artificial intelligence) accelerators that are crucial for training models, ultimately enabling Samsung to compete with SK Hynix in the high-end product segment, Mint said in a report. Shares of rival SK Hynix closed 0.6% lower.

China's CSI 300 index closed 0.5% higher after a choppy session. The country's central bank left the one-year and five-year loan prime rates unchanged despite the US Federal Reserve's rate cut last week. Shares of sportswear giant Anta Sports Products fell more than 2% after the company's fireworks show in Tibet received criticism for possible environmental damage.

Hong Kong's Hang Seng index fell 1% and was among the worst performing indices in Asia. Shares of BYD fell 2.5% after investment firm Berkshire Hathaway sold all of its stake in the Chinese electric vehicle maker, according to a report by UK-based The Times. The electric vehicle industry has seen muted sales growth in China amid the country's anti-involution campaign, which seeks to reduce harmful competition by cutting excessive capacity.

Japan's Nikkei 225 index was the top gainer among its benchmark peers in the region, gaining 1%. The Topix index rose 0.5%.

Following were the levels of key Asian indices at 1321 IST:

(Eshitva Prakash)

Equity Alert: Swiggy down nearly 3%; JM Financial downgrades share to 'reduce'

MUMBAI--1319 IST--Shares of Swiggy fell nearly 3% Monday to an intraday low of INR 446.55. This comes, after the stock rose for five consecutive sessions and gained 9% over that period. JM Financial Institutional Securities downgraded the stock to 'reduce' from 'hold' but has raised its target price by nearly 5% to INR 440.

The brokerage expects the company's balance sheet to be a concern and that it requires remedial measures. While media reports suggest the company is considering a 12% stake sale in Rapido to recapitalise its balance sheet, it believes the company needs a much larger fund-raise, of more than $500 million, to support its long-term goals in quick commerce segment. "This is because Swiggy's entire stake in Rapido can fetch it a maximum of $320 million pre-tax, even if we assume the deal happens at the upper end of $2.5 billion-$2.7 billion," the brokerage cited media reports. It expects the Rapido transaction to be completed in Oct-Mar and, consequently, factor in the proceeds from the sale of stake. 

Swiggy has been losing relative share to Blinkit, as the latter expanded more than 130%, despite Swiggy Instamart delivering over 100% on-year growth in gross order value in recent quarters, the brokering firm said. "With Blinkit's guidance suggesting plans to double its store count over the medium term, we believe Instamart's curbed expansion strategy runs the risk of meaningfully falling behind its more ambitious competition," it said.

JM Financial expects Swiggy's net cash balance, excluding any proceeds from the Rapido stake sale, to fall by INR 10 billion on a sequential basis to INR 43.5 billion by September. It would mean its net cash outflow over the past 15 months would be even more than the primary fund-raise of INR 44 billion at the time of its initial public offering in November 2024. It sees the company's cash outflow to remain high at least till late 2026-27 (Apr-Mar). This is because Instamart's losses in adjusted earnings before interest, tax, depreciation, and amortisation are not likely to come down at an accelerated pace even if it turns contribution margin break-even as per the management's latest guidance, new dark store addition remains muted at 40-50 per quarter from a peak of 316 stores in the March quarter, and competitive pressure remains relatively modest, the brokerage said.

At 1313 IST, shares of the company traded at INR 449.85, down nearly 2%. The stock was among the worst performers in the Nifty 200 index. So far Monday, over 9 million shares of the company have changed hands on the NSE, higher than 6 million shares traded during the same period on Friday. Of the 10 brokerage reports on the stock available with Informist, eight have a 'buy' or equivalent rating on the stock, one has a 'neutral' rating, and only JM Financial has a 'reduce' rating on the stock.  (Simran Rede)

Equity Alert: Hindustan Copper rises 8%, hits over 10-month high of INR 304

MUMBAI--1205 IST--Shares of Hindustan Copper rose nearly 8% Monday to reach an over 10-month high of INR 304.8, following the execution of the Rakha mining lease deed between the company and the Jamshedpur district commissioner for an extended period of 20 years. The lease deed is for the reopening and expanding the Rakha copper mine, which holds strategic importance for the growth of copper production in the region.

On Jan. 10, Hindustan Copper said it had appointed South West Mining Ltd. as the mine developer-cum-operator for the reopening and expansion of the Rakha copper mine, development of a new underground mine at Chapri in Jharkhand, and commissioning of a new concentrator plant for 20 years, which will be extendable by another 10 years.

In another development, the company and Oil India signed a memorandum of understanding to collaborate on the exploration and development of critical minerals, including copper and other related minerals, Oil India said in an exchange filing during the final hours of Friday's trading session.

Progressive Share Brokers has a 'buy' rating on the company with a target price of INR 385. At 1124 IST, shares of Hindustan Copper traded over 5% higher at INR 297.44. Over 21 million shares of the company changed hands compared with over 2.3 million shares traded on NSE till the same time Friday.  (P. Madhu Kumar)

Equity Alert: Adani Group cos extend gains; Adani Power hits 15-month high

MUMBAI--1200 IST--Adani Group companies extended gains on Monday, having surged to 7-14% Friday after the Securities and Exchange Board of India last week gave a clean chit to Adani Group over allegations made by Hindenburg Research on accounting manipulation practises. The market regulator said that there was no violation of listing norms as the alleged transactions to which the Hindenburg report referred to cannot be categorised as related party transactions.  

At 1212 IST, shares of Adani Power were at INR 170.25 and hit 20% upper circuit. The stock surged 20% to hit a near 15-month high of INE 170.25. The stock trades 1:5 stock split. Adani Total Gas was up nearly 17% and Adani Green Energy was up nearly 8%. Meanwhile, Adani Energy Soultions and Adani Enterprises was up 5% and 3%, respectively. Shares of Adani Ports and Special Economic was up over 1%.   

The regulator had said findings of the investigation showed that the group's listed company Adani Ports and Special Economic Zone had transferred funds as loans to Adicorp Enterprises, which in turn transferred funds as loans to another group-owned listed player, Adani Power. Having said that, Adani Power repaid the loans to Adicorp Enterprises along with with interest, which in turn repaid the loans to Adani Ports alongside interest, the market watchdog said. 

In January 2023, Hinenburg had alleged Adicorp Enterprises, Milestone Tradelinks, and Rehvar Infrastructure were used as a means to route funds from among various Adani group companies for funding some of the conglomerate's listed firms.  (Gopika Balasubramanium)

Equity Alert: Indices off lows; auto, Adani group cos gain, IT cos remain dn

MUMBAI--1155 IST--Benchmark indices came off lows after opening lower Monday due to heavy selling in information technology stocks. Gains in automobile stocks and Adani group companies helped the indices come off their intraday lows. Shares of several consumer-facing companies rose as changes to the goods and services tax rates came into effect Monday.

At 1145 IST, the Nifty 50 was at 25291.10 points, down 35.95 points or 0.1%. The BSE Sensex was at 82440.72 points, down 185.51 points or 0.2%. While shares of index heavyweight ICICI Bank turned negative, those of HDFC Bank came off their intraday highs and traded almost flat. Among other gainers, shares of Bajaj Finance and SBI Life Insurance traded over 1% higher each.

Shares of Tech Mahindra, Infosys, Tata Consultancy Services, Wipro, and HCL Technologies raced to the bottom of the Nifty 50 index after an upward revision of the H-1B visa fees by the US government sent shock waves through IT stocks. However, shares of Netweb Technologies India gained over 6% after the company got an order of INR 4.5 billion for deployment of artificial intelligence facilities.

Adani Power, Adani Total Gas, and Adani Green Energy were up 7-19%, and were the biggest gainers on the Nifty 200. These stocks rose further after opening higher and led the gains in the market. Shares of all Adani group companies extended gains after the Securities and Exchange Board of India last week gave a clean chit to Adani Group over allegations made by Hindenburg Research.

Shares of major automobile companies were higher, with Bajaj Auto, Hero Motocorp, and MRF rising 1-2%. The Nifty Auto was up 0.3%. Among other consumer-facing companies, shares of Zomato-owner Eternal were up over 1%, and those of Hindustan Unilever and Asian Paints were also higher. Lower tax slabs introduced under the GST are expected to boost demand and consumption for domestic products. However, the Nifty FMCG and Nifty Consumer Durables indices were flat to 0.3% lower.  

The Nifty Energy index was up 1% and was the top gaining sectoral index, led by gains in Adani Power, Adani Total Gas, and Adani Green Energy, which were also the top three performers of the Nifty 200 index.

Shares of most shipbuilding companies rose in early trade to top the charts but came off highs later. These stocks rose after the government granted infrastructure status to 'large ships'. The government also announced three schemes with an investment of over INR 700 billion to boost the shipbuilding sector. Shipping Corp. of India was up nearly 5% and Garden Reach Shipbuilders & Engineers was up over 4%.  (Eshitva Prakash)

Equity Alert: Netweb Tech hits all-time high after bagging INR-4.5-bln order

MUMBAI--1150 IST--Shares of Netweb Technologies India rose over 8% to an all-time high of INR 3,545.60 after it received a large order. At 1149 IST, the stock traded 5.8% higher at INR 3,469.70 and was among the top gainers in the Nifty 500. 

The company after market hours Friday said it has received an order of INR 4.5 billion to supply Tyrone AI GPU accelerated systems. The order value excludes applicable taxes. The provider of technology distribution and integrated supply chain solution needs to execute the order by the end of 2025-26 (Apr-Mar). The value of the order is more than the company's June quarter top line of INR 3.01 billion. 

At 1149 IST, 4.31 million shares of the company were traded on the NSE, sharply higher than the 3.27 billion shares traded till the same time Friday.  (Akash Mandal)

Equity Alert: Shalby surges 13%; co sees revenue growing 2.5 times by FY30

MUMBAI--1059 IST--Shares of Shalby surged 13% to a high of INR 271.80, its highest level since Oct. 7, after Informist Friday reported that the company expects its revenue to more than double by 2029-30 (Apr-Mar) driven by its hospitals and implants operations. At 1056 IST, the stock traded 9.9% higher at INR 264.40. 

The company, which operates 15 hospitals across the country, expects its revenue and earnings before interest, tax, depreciation, and amortisation of its hospitals business to rise to INR 20 billion and INR 5 billion, respectively, by FY30, President Shanay Shah told Informist. The segment generated over INR 11 billion in revenue and EBITDA of INR 1.6 billion in FY25.

The company's implants business aims for INR 6 billion-INR 7 billion revenue and INR 1.5 billion EBITDA by FY30. The implants vertical sold 14,076 units in the June quarter, clocking around INR 308 million in revenue. The company sees the hospital and implant businesses together generating INR 26 billion to INR 27 billion in revenue and INR 6.5 billion EBITDA and a possible $1 billion market capitalisation, Shah said. 

In FY25, Shalby had reported a consolidated net loss of INR 122.0 million on a revenue of INR 11.1 billion. At 1056 IST, 4.35 million shares of the company traded on the NSE, sharply higher than the 295,620 shares traded till the same time Friday.  (Akash Mandal)

Equity Alert: Shipbuilding cos up; govt approves infra status to large ships

MUMBAI--1030 IST--Shares of shipbuilding companies rose in early trade after the government granted infrastructure status to 'large ships'. Shipping Corp. of India was up over 5% and Cochin Shipyard was up nearly 3%, among the top gainers in the Nifty 500 and Nifty 200 indices, respectively. Mazagon Dock Shipbuilders and Great Eastern Shipping Co were up 1.4% and 0.3%, respectively.

The move is expected to significantly benefit Cochin Shipyard, Mazagon Dock Shipbuilders, and Larsen & Toubro's shipbuilding arm, ICICI Direct Research said in a report. This will lower financing costs and extend tenure of loans, making large vessel projects more viable and boosting domestic shipbuilding competitiveness. "This policy change is a game-changer for Indian shipyards, providing them with a level playing field against global competitors by reducing capital costs and improving financial flexibility," the report said.

Additionally, Prime Minister Narendra Modi has announced three schemes with government investment of over INR 700 billion to boost the shipbuilding sector. This is to provide incentives, interest subsidies, and long-term finance to boost domestic shipbuilding, ship-breaking and port-linked infrastructure, the report said.

The package will have four components, including the Shipbuilding Financial Assistance Scheme to provide INR 250 billion financial aid to shipbuilders, INR 250 billion to set up a Maritime Development Fund, and INR 200 billion for capacity creation for developing greenfield clusters and expansion of existing hubs.

The infrastructure status can accelerate defence and commercial shipbuilding programmes, drive indigenisation, and open up opportunities for auxiliary naval platforms, the report said. Over the medium term, this will likely attract private investment and enable technology upgrades, it said. Defence shipbuilders such as Mazagon Dock Shipbuilders, Cochin Shipyard, Garden Reach Shipbuilders, L&T Shipbuilding are expected to benefit substantially from these developments in the coming periods, ICICI Direct said.

In the other news, Garden Reach Shipbuilders Saturday signed memoranda of understanding with various port authorities such as Kandla-based Deendayal Port Authority, Kolkata-based Syama Prasad Mookerjee Port Authority, Indian Port Rail & Ropeway Corp., The Shipping Corp. of India, and Modest Infrastructure. These are to create a structured framework for the company and its partners to explore and jointly develop projects across multiple domains, Garden Reach said in an exchange filing.  (Simran Rede)

Equity Alert: IT stocks fall sharply on new regulations for US H-1B visas

MUMBAI--1024 IST--Information technology stocks opened sharply lower after the US imposed a fee of $100,000 on H-1B visas which are granted to immigrants for working in the US. At 1024 IST, Tech Mahindra, LTIMindtree, Mphasis, and Persistent Systems were down 3-4%. The Nifty IT had fallen to a two-week low of 35145.10 points, down nearly 4%. All constituents in the sectoral index were in the red. 

Most brokerages expect some near-term impact of the move for Indian IT companies but the downside is likely to be limited in the longer run. Sunny Agrawal of SBICAPS Securities had expected these stocks to open 2-3% lower Monday in a "knee-jerk" reaction. 

Indian IT firms are likely to see an impact of around 50-150 basis points on their margins if they choose to continue to use their current workforce dependent on H-1B visas, Nuvama Institutional Equities said in a report Sunday. The brokerage said these IT companies will now focus on only critical jobs when considering hiring on H-1B visa. Indian IT companies have reduced their reliance on H-1B visas over the last decade and started hiring more local workforce from the US. 

Most global brokerages expect the development to have some negative implications for Indian IT companies over the near-to-medium term. Morgan Stanley sees minimal impact in the near term, but said it could lead to higher cost structure in the medium term, NDTV Profit reported. Jefferies expects 7-12% of the business of these companies to be renegotiated over the next 3-5 years. The brokerage also expects higher onsite wages to hit profits of the sector by 4-13%. It also expects Indian IT companies to change their operating model. 

Citi expects higher costs for visas to increase the cost of doing business in the US for Indian IT companies, part of which will be passed on to clients. However, it does not expect global competitiveness of these companies to change.  (Akash Mandal)

Equity Alert: Indices open lower; H-1B visa fee hike hits IT stocks

MUMBAI--0955 IST--Benchmark equity indices opened lower on Monday, beginning the week on a negative note, mainly due to sharp losses in information technology stocks. Shares of these companies fell after the US government issued an executive order hiking the H-1B visa application fee to $100,000. Some sectoral indices had fallen slightly at open but recouped losses and were mostly in the green.  

At 0947 IST, the Nifty 50 index was at 25294.70 points, down 32.35 points or 0.1%. There was weakness in the three main index heavyweights ICICI Bank, HDFC Bank, and Reliance Industries, which opened lower. Having said that, the market's fear gauge, India VIX, surged 5% to 10.4750. The BSE Sensex was at 82479.94 points, down 146.29 points or 0.2%.

IT stocks fell the most with Tech Mahindra and Persistent Systems declining nearly 4% each. Others such as LTIMindtree, Coforge, and Mphasis traded 3% lower. All the constituents of the Nifty IT index were in the red. Some brokerages said there would be minimal impact of the visa fee hike on Indian IT companies. These firms are likely to see an impact of around 50-150 basis points on their margins if they continue to use their current workforce dependent on H-1B visas, Nuvama Institutional Equities said in a report. 

Shares of Adani Group companies were in the green in early trade Monday. The stocks extended their gains post the Securities and Exchange Board of India gave a clean chit to the conglomerate over allegations made by Hindenburg Research in January 2023. Adani Energy Solutions, Adani Green Energy, and Adani Total Gas gained 4-5% in early trade.

Among sectoral indices, Nifty IT, Nifty Pharma, Nifty Consumer Durables companies were the worst hit. The Nifty IT fell 4% to a low of 35145.10 points. On the other hand, the Nifty Realty and the Nifty Energy were up 0.9% each.  (Gopika Balasubramanium)

Equity Alert: Brokerages wary on Voltas on high inventory, regulatory changes

MUMBAI--0829 IST--Most brokerages remained cautious on Voltas on expectations of a weak September quarter due to inventory challenges and low demand. The caution is despite the company reiterating its hopes for an improved second half of the financial year due to the cut in goods and service tax on multiple segments that the company is involved in.

"Voltas, in its pre-quarterly update, indicated Q2 momentum to be challenging given higher inventories in channel (two–three months currently) coupled with GST cut expectations that hurt momentum for past five weeks," Nuvama Institutional Equities said in a report. The trend of a fall in sales across key categories such as cooling products is likely to continue in Jul-Sept due to the high base of last year, the report said. "Given the weak season and upcoming BEE (Bureau of Energy Effeciency) change event from Jan. 1, we argue near-term looks painful for brands," it said. 

However, demand is likely to pick up in the December quarter due to the upcoming festival season and GST rate cuts. "Notwithstanding near term, Voltas expects demand drivers such as higher disposable income, urbanisation and replacement demand to be intact and hence imply strong growth prospects over medium to long term," the brokerage added. It maintained a 'reduce' rating on the stock with a target price of INR 1,020. On Friday, the stock had closed 0.4% lower at INR 1,419.90 on the NSE. 

Nomura Global Markets Research also noted similar points and maintained a wary outlook for the stock. "Management noted that in the room AC category, both primary and secondary demand remains severely impacted in 2QFY26, given elevated channel inventory (2-3 months), the extended monsoon season, and consumers deferring their purchases between 15 Aug and 22 Sep," the brokerage said. 

The comany said new rating norms of the Bureau of Energy Efficiency will drive prices higher by 3-5% for three-star ACs and by more than 5% for five-star ACs. "In our view, despite an ~8% cut in AC prices on lower GST, elevated channel inventory may dampen primary sales channel build-up in 3QFY26F before new BEE ratings kick in from Jan-2026," the brokerage said. It expects the net benefit for consumers to be nominal by the March quarter and thus the demand to remain contingent on the upcoming summer season. It maintained a 'neutral' rating on the stock with a target price of INR 1,420.  (Akash Mandal)

Equity Alert: Analysts see limited impact of H-1B visa fee change on IT cos

MUMBAI--0807 IST--Indian information technology companies may see slight impact on their financials after US President Donald Trump hiked H-1B visa application fee to $100,000, according to brokerages Nuvama Insitutional Equities and Emkay Global Financial Services. IT firms are likely to see an impact of around 50-150 basis points on their margins if they choose to continue to use their current workforce dependent on H-1B visas, Nuvama said in a report on Sunday.

However, the brokerage also expects the actual impact of the fee hike to be lower than the 50-150 basis points as they will now focus on only critical jobs when considering hiring on H-1B visa. Indian IT companies have reduced their reliance on the H-1B visas over the last decade and started hiring more local workforce from the US. 

Emkay Global spoke on similar lines and expects the companies to manage the change with more local hiring in the US. "We do not foresee any immediate risks to earnings, though a potential inch-up in on site wage inflation due to increase in local hiring and the USD100,000 fee on new H1-B visas from the next-year lottery cycle would hit earnings in FY27," Emkay Global said in its report. The brokerage also said that the overall impact on IT companies is unlikely to be disruptive and as companies may use L1 visas as an alternative. 

In case of continued usage of H-1B visas, IT firms may negotiate with their clients to share the higher costs which is likely to help ease margin pressure on the companies in the medium term, Nuvama said in its report. Information technology companies will have to pay $100,000 once in six years for an employee through H-1B visa, the brokerage said. 

"We believe such an impact is unlikely to be disruptive for IT companies, though there may be a near-term overhang on stock prices as investors are likely to price-in the increased risks of protectionist measures," Emkay Global said.  (P. Madhu Kumar)

Equity Alert: Most Asian indices up, Chinese mkts dn on unch loan prime rates

MUMBAI--0806 IST--Most Asian indices were higher in early trade Monday barring the markets in China where the central bank left loan prime rates unchanged for the fourth month in a row. US President Donald Trump's upward revision to H-1B visa fee weighed on trader sentiments as technology companies in the US rely heavily on workers from India and China.

The People's Bank of China maintained one-year loan prime rate at 3% and the five-year loan prime rate at 3.5%, in line with Reuters estimate. The one-year rate affects new and outstanding loans and the five-year rate impacts the price of mortgages. China's blue-chip CSI 300 index was down 0.1% in early trade.

The US administration clarified that the new $100,000 fees will be levied on new applicants. The new rates came into effect Sunday. H-1B visa petitions submitted before the effective date will not be affected by this change in price, a report by The Hindu said.

Japan's Nikkei 225 advanced 1.5%. The 10-year Japanese Government Bonds rose 0.67% to 1.650, the highest level since July 2007, according to a CNBC report. South Korea's Kospi rose nearly 1% while Hong Kong's Hang Seng index was the worst performer, down 1%.

Following were the levels of key Asian indices at 0814 IST:

(Eshitva Prakash)

Equity Alert: Mkt may open lower; IT cos under pressure on H-1B visa changes

MUMBAI--0805 IST--Benchmark indices are likely to open lower Monday and may move in a relatively narrow range after already gaining over 3% this month. Information technology stocks are likely to be under pressure after the US imposed a hefty fee for H-1B visa applications. However, analysts expect the downside in the overall market to be limited. The Nifty 50 is likely to move in a range of 25150-25450 points. 

IT stocks are likely to open lower due to pressure over the new $100,000 fee on H-1B visas. "IT stocks may witness knee-jerk reaction on Monday and can open gap down with cut of 1-3%," Sunny Agrawal, head of research at SBICAPS Securities, was quoted by the Economic Times as saying. The American Depository Receipts of Infosys and Wipro fell as much as 4% overnight after the new fee was announced.

The new goods and services tax regime announced by Prime Minister Narendra Modi on Independence Day will come into effect from Monday. Trade talks between the US and India will be in focus, with Trade Minister Piyush Goyal scheduled to visit the US later in the day to discuss the proposed bilateral trade agreement. A favourable trade deal for India will be the next big trigger for the market, analysts said. 

The September contract of the GIFT Nifty indicates a slower start for the market. At 0803 IST, the contract was at 25334.50 points, 21.50 points lower than its previous close. On Friday, the Nifty 50 had closed at 25327.05 points, down 96.55 points or 0.4%. The BSE Sensex ended at 82626.23 points, down 387.73 points or 0.5%.

Indices in the US had ended with slight gains Friday, with all three indices ending at fresh closing highs. Trading volumes rose to the highest levels since April amid a bull run in the market. Most Asian indices were higher in early trade Monday.  (Akash Mandal)

Equity Alert: US indices hit record highs Fri; Apple up as iPhone sales begin

MUMBAI--0743 IST--Equity indices in the US notched record closing highs again on Friday. The S&P 500 and the Nasdaq Composite indices closed higher, gaining for three consecutive weeks, helped by the US Federal Reserve's move to cut lending rates Wednesday. Market participants focused on details of a call between leaders of the US and China, which US President Donald Trump described as "very productive."

The Nasdaq Composite closed over 0.7% higher and shares of Apple rose more than 3% after the company's latest iPhone went on sale. JP Morgan raised the company's target price to $280 from $255, Reuters reported. The Dow Jones Industrial Average index closed 0.4% higher, marking two consecutive weeks of gains.

Among other gainers, shares of Oklo and Nano Nuclear Energy rose 21-29%. Shares of Paramount Skydance rose nearly 6% after media reports laid out more details about the company's likely bid for Warner Bros. Discovery. Shares of Warner Bros. Discovery were up more than 3%.  

Following are the closing levels of US indices Friday:

(Eshitva Prakash)

US$1 = INR 88.30

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

End

Edited by Saji George Titus

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.