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Informist, Tuesday, Sept. 23, 2025                                      Tel +91 (22) 6985-4000

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Equity Alert: Auto stocks up; dealerships see surge in footfalls post GST cut

 

MUMBAI--1005 IST--Many automobile companies' stocks rose substantially in early trade Tuesday after media reports said dealerships saw a surge in footfalls with several companies seeing a notable rise in equiries on the first day of the cut in goods and services tax. Maruti Suzuki India, Hyundai Motor India, Eicher Motors, Tata Motors, and Mahindra & Mahindra were up 1-2%, having risen 2-3% at open. At 0951 IST, the Nifty Auto was up nearly 1%. 

 

Automobile showrooms across the country saw a jump in customer bookings, footfalls, and enquiries for two-wheelers and cars on the first day the tax rejig, reports said. Vehicle deliveries planned on Monday at dealerships across Delhi, Gurugram, and Mumbai were three-five times higher than normal, The Economic Times newspaper reported. "These booking surges reflect both pent-up demand and strategic consumer response to pricing advantages, amplified by sectoral commentary about continued business momentum," ICICI Direct Research said in a report, citing such media reports. 

 

Maruti Suzuki India saw a surge in equiries on the first day. "On the very first day we recorded 80,000 enquiries, and have already delivered 25,000 cars, with deliveries expected to touch 30,000 shortly," Partho Banerjee, senior executive officer of marketing and sales, Maruti Suzuki, was quoted as saying by the Mint. "Since 18 September, when we announced additional price reduction (over and above GST), we have received 75,000 bookings with nearly 15,000 bookings coming in every day," he added. Demand for small cars surged 50% and enquiries remain very high, Banerjee said.

 

While enquiries surged, it will take some time for this to translate into sales and retailers expect sales to rise in the upcoming days of the festival season, reports said. The demand outlook for industry looks far better now than it did before Independence Day as the rejig is expected to boost festival season sales and help companies post a double-digit growth, analysts had said on the tax rationalisation.  (Akash Mandal)

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Equity Alert: Mkt falls after positive open; auto cos zoom as bookings rise

 

MUMBAI--0940 IST--Benchmark equity indices turned negative minutes after it opened higher. The fall in the Nifty 50 was mainly due to losses in three index heavyweights – HDFC Bank, Reliance Industries, and ICICI Bank.

 

At 0934 IST, the Nifty 50 was at 25162.90 points, down 39.45 points or 0.2%, and the BSE Sensex was at 82038.25 points, down 121.72 points or 0.2%. Broader market indices were a tad higher at open, but fell soon alongside benchmark indices. The Nifty Smallcap 50 was down 0.3%. Among sectoral indices, the Nifty Auto and the Nifty Metal rose while the Nifty FMCG and the Nifty Realty fell.  

 

Information technology stocks extended their losses as the sentiment was hit after the US government passed an executive order hiking the application fee for new H-1B visa petitions. Large-caps such as Infosys, HCL Technologies, Tata Consultancy Services fell nearly 1%.

 

Investors bought automobile stocks on the back of positive reports saying that dealerships saw a surge in enquiries, bookings, and footfall across the country after the new goods and services tax regime took effect Monday. Demand for small cars, which saw muted growth in the previous quarters, also increased significantly, reports said. Vehicle deliveries that were planned on Monday at dealerships across Delhi, Gurugram, and Mumbai were three-five times higher than normal, The Economic Times newspaper reported. All automobile companies announced price cuts for their car models to pass on the benefit of tax cuts to consumers. 

"The response from customers has been phenomenal--something we haven't seen in the last 35 years," Partho Banerjee, senior executive officer of marketing and sales at Maruti Suzuki, said. "On the very first day, we recorded 80,000 enquiries, and have already delivered over 25,000 cars, with deliveries expected to touch 30,000 shortly." 

 

Maruti Suzuki India hit a fresh record high within minutes of opening. Shares of the automaker hit a record high of INR 16,325 and were up over 2%. Eicher Motors also hit a lifetime high at INR 7,122.50 shortly after opening and was up nearly 2%. Mahindra & Mahindra, Tata Motors, and Hero MotoCorp were up 0.6-1.2%.  

 

Among individual stocks, KEC International rose nearly 8?ter it got orders worth INR 32.43 billion for transmission and distribution projects in the United Arab Emirates and the US. JBM Auto's shares rose over 3% after it signed a pact to launch electric buses in the UAE. Some Adani Group companies fell after rising for the past two sessions--Adani Total Gas fell 4% and Adani Power was down 3.5%. (Gopika Balasubramanium)

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Equity Alert: Indices in Asia mostly up tracking gains in US market

 

MUMBAI--0835 IST--Most indices in Asia were higher in early trade Tuesday, tracking gains from the US market Monday. Market participants were optimistic about artificial intelligence-related  companies after technology-giant Nvidia announced a hefty investment in OpenAI to build data centres. Markets in Japan were closed owing to the Autumnal Equinox Day holiday.

 

"With US technology/Artificial Intelligence currently in red-hot form, we'd need to see something leftfield to derail the upbeat flows that are the driving force of Oracle, Apple, Nvidia, Tesla, and some of the US hardware plays," Chris Weston, head of research at broker Pepperstone, was quoted by Reuters as saying.

 

China's blue-chip CSI 300 index was down 0.6% and fell after two consecutive sessions of gains. The Australian S&P/ ASX 200 index led the gainers in the region, up 0.5%. The FTSE Singapore Strait index was up ahead of the country's inflation print for August, due later in the day.

 

Hong Kong's Hang Seng fell 0.7% as the country braces for a typhoon called Super Typhoon Ragasa which is expected to approach Wednesday, according to CNBC. The typhoon is expected to worsen weather conditions later in the day, according to the Hong Kong Observatory.

 

Following were the levels of key Asian indices at 0827 IST:

 

Index	Level	Change in %
CSI 300 Index	4496.82	(-)0.60
Hang Seng Index	26174.34	(-)0.64
KOSPI	3478.96	0.30
FTSE Singapore Strait Times	4313.26	0.37
S&P/ASX 200 Index	8859.60	0.55

 

(Eshitva Prakash)

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Equity Alert: Nuvama sees Q2 loan growth strong for PSU bks, NIM fall modest

 

MUMBAI--0830 IST--Public sector banks are likely to report healthy loan growth in the September quarter, with a moderate decline in net interest margins and stable asset quality, Nuvama Institutional Equities said in a report. Most PSU banks are likely to report strong loan growth driven by the retail, agriculture, and micro, small, and medium enterprises segments, the brokerage said. It maintained Bank of Baroda, State Bank of India, and Punjab National Bank as its preferred picks in the sector. 

 

Bank of Baroda's loans are expected to grow 4% on quarter in the September quarter, the highest in the sector. State Bank of India is expected to report 3% loan growth compared to the previous quarter. Punjab National Bank, Canara Bank, and Indian Bank are likely to report a quarter-on-quarter loan growth of around 2.5%, the brokerage said. Union Bank of India is likely to grow slower than the sector, it added. "While corporate loan growth has been disintermediated by mutual funds and capital markets, select AAA pockets reported corporate growth," the report said. 

 

In terms of net interest margins, PNB is likely to report unchanged levels on quarter. Bank of Baroda has also guided for stable reported net interest margin, but core margins are likely to decline 7 basis points on quarter, the brokerage said. For Union Bank, net interest margin may fall 6 bps, and for Indian Bank it is likely to decline under 10 bps. SBI's net interest margin is likely to fall 5%. For Canara Bank, net interest margins could decline more than peers due to lower current account and savings account deposits, Nuvama said. "It should be noted that NII for the entire (banking) sector has been under pressure due to lower rates and slower growth," it added. 

 

State-owned banks are likely to report stable asset quality in Jul-Sept with no lumpy slippages, Nuvama said. "Slippage would decrease for SBI, BoB (Bank of Baroda), and Indian Bank and remain flattish for others," it said. The brokerage also said SBI and Bank of Baroda would be able to maintain return on assets of above 1% in the reporting quarter due to higher core income. PNB's return on assets is likely to expand due to a lower tax rate. "The share of written-off recoveries to PBT (profit before tax) is higher for Union Bank and Canara Bank relative to other state banks," the brokerage said.  (Akash Mandal)

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Equity Alert: Indices likely to open lower, move in thin range thereafter

 

MUMBAI--0756 IST--Benchmark equity indices are likely to open lower and move in a relatively narrow range Tuesday, consolidating after declining for two straight sessions. The Nifty 50 has fallen over 220 points during these two sessions. The index is likely to move in a range of 25000-25500 points. Information technology stocks will be in focus yet again as market participants assess impact of visa rule changes by the US on these companies.

 

"On the levels front, the range of 25100-25000 constitutes a significant support zone, as it corresponds with the 20-DEMA (daily exponential moving average) and a bullish gap observed on the daily charts...provided that this zone remains intact, it is advisable to pursue long positions in proximity to these support levels," Osho Krishan, senior analyst of technical and derivatives at Angel One, said in a note.

 

The September contract of the GIFT Nifty also indicated a weak start for the market. At 0749 IST, the contract was at 25252 points, 53 points lower than its previous close. On Monday, the Nifty 50 closed at 25202.35 points, down 124.70 points or 0.5%. The BSE Sensex ended at 82159.97 points, down 466.26 points or 0.6%. 

 

Indices in the US notched record closes for the third straight session overnight but the gains were marginal. Technology stocks led the gains with Nvidia rising 4?ter the company said it will invest up to $100 billion in artificial intelligence firm OpenAI. Asian indices were mixed in early trade Tuesday after a higher opening tracking Wall Street.  (Akash Mandal)

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Equity Alert: US indices at record highs, tech stocks lead charge

 

MUMBAI--0730 IST--Benchmark equity indices in the US posted their third consecutive record closing highs Monday amid sharp gains in information technology stocks. Market participants await personal consumption expenditure price index numbers, due later in the week. This print is considered to be the US Federal Reserve's preferred gauge for inflation.

 

The technology-heavy Nasdaq Composite rose 0.7% as shares of chipmaker Nvidia rose 4?ter the company said it would invest $100 billion in OpenAI to support development of data centres. The new deal could signify that the artificial intelligence trade will continue to "drive earnings per share and share price growth into 2026 and beyond," Sam Stovall, chief investment strategist at CFRA Research, was quoted by CNBC as saying.

 

Shares of Oracle Corp. jumped over 6?ter the company Monday said it had promoted its president of cloud infrastructure, Clay Magouyrk and president of industries Mike Sicilia as co-chief executive officers. Shares of Apple were up over 4?ter brokerage Wedbush Securities raised its target price on the company on strong demand for the latest iPhone 17, according to a Reuters report. Shares of Tesla also rose 2%.

 

Shares of Kenvue Inc. fell 7.5% as traders awaited US President Donald Trump's comments on Tylenol, a painkiller used in the treatment of autism. However, shares of the company gained 4.7% in afterhours trading despite the US president saying the Food and Drug Administration would advise pregnant women against using acetaminophen, an active ingredient in Tylenol, a report by Reuters said.

 

Traders are monitoring the impact of the US raising H-1B fees for foreign workers that may affect US technology companies hiring overseas employees. In separate addresses Monday, newly appointed Fed Governor Stephen Miran argued for sharply lower rates while three other Fed officials said the central bank needed to remain cautious about inflation, according to Reuters.

 

Following are the closing levels of US indices Monday:

 

Index	Level	Change in %
S&P 500	6693.75	0.44
NASDAQ Composite	22788.98	0.7
Dow Jones Industrial Average	46381.54	0.14

 

(Eshitva Prakash)

 

End

 

US$1 = INR 88.57

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

 

Edited by Vandana Hingorani

 

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.

 

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