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Informist, Tuesday, Oct. 14, 2025                                      Tel +91 (22) 6985-4000

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Equity Alert: Analysts point to high valuation of HCL Tech despite strong Q2

 

MUMBAI--0904 IST--Some brokerages have pointed to the high valuations of HCL Technologies even though they were positive about the company' September quarter earnings. HCL Technologies beat expectations on revenue growth and operating margin for the quarter, but some brokerages see only a limited upside in the stock.

 

HCL Tech's valuations were on par with Tata Consultancy Services and Infosys, even as the margin was comparatively lower, Nuvama Institutional Equities said in a report. Owing to this, Nuvama expects the stock to see limited upside from the current levels. The brokerage retained its 'hold' rating on the stock and raised the target price marginally to INR 1,650, indicating a rise of just over 10%. Monday, shares of the company closed at INR 1,494.70 per share.

 

Brokerage Morgan Stanley also said further gains in shares of HCL Tech will be limited after the recent outperformance of the stock. Shares of the company have risen nearly 2% over a month as compared to a decline over 2% in the Nifty IT index.

 

A lower margin profile would lead to only a 0.2% rise in earnings per share of HCL Tech in 2025-26 (Apr-Mar) and may be an overhang on FY27 earnings as well, Nuvama said. Most brokerages have not made any major change in their EPS estimates for FY26 and FY27 as they await better margins. Nomura expects margins to rise to near 18% only in FY27. The brokerage has a 'buy' rating on HCL Tech with a target price of INR 1,660 per share.

 

Some other brokerages are more bullish on the stock as they expect a much quicker improvement in margins. Nirmal Bang Institutional Equities expects the company's margin to improve to 18.5% in FY27. The brokerage upgraded the stock to 'buy' and raised its target price by 3% to INR 1,727 on expectation of the company benefiting from advanced artificial intelligence in the coming quarters.  (Anshul Choudhary)

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Equity Alert: Most indices in Asia up as US-China trade tensions ease

 

MUMBAI--0830 IST--Most indices in Asia recovered partially from Monday's decline as trade-related tensions between the US and China eased. Most indices in the region had started the week lower following US President Donald Trump's threat to levy an additional 100% tariff on China, as a retaliation to Beijing tightening rare earth export rules. China announced that it will start charging US ships for docking at Chinese ports, in response to the US imposing fees on Chinese ships. Both he levies are scheduled to begin from Tuesday.

 

Trump's conciliatory remarks over the weekend on his Truth Social platform on the US-China relations alleviated some concerns around trade tensions between the two countries. "The reason is not so much the reassuring President Trump tweet over the weekend, but the fact that China may be the only country with bargaining power, where the US may have to be more flexible in its negotiation stance," Citi analysts were quoted by Reuters as saying.

 

China's blue-chip CSI 300 index was up 0.2?ter it fell 0.5% Monday. Hong Kong's Hang Seng index was choppy, declining 0.3?ter it had fallen 1.5% Monday.

 

The FTSE Singapore Straits Times index was marginally higher. Singapore's GDP grew 2.9% in the September quarter, slower than the 4.5% growth in the June quarter, Channel NewsAsia said, citing preliminary government data released on Tuesday. The preliminary reading was better than the 1.9% rise expected by economists polled by Reuters. 

 

Markets in Japan were lower after trading began post the Sports Day holiday on Monday. The benchmark Nikkei 225 index and the broader Topix index fell around 1?ch in early trade.

 

Following were the levels of key Asian indices at 0830 IST:

 

Index	Level	Change in %
CSI 300 Index	4615.60	0.47
Hang Seng Index	25918.21	0.11
Nikkei 225 Day	47520.57	(-)1.18
TOPIX FIRST SECTION	3153.50	(-)1.38
KOSPI	3612.31	0.77
FTSE Singapore Strait Times	4387.62	(-)0.05
S&P/ASX 200 Index	8886.50	0.04

 

(Eshitva Prakash)

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Equity Alert: Mkt seen flat to tad up on Trump's soft tone on US-China woes

 

MUMBAI--0809 IST--Benchmark indices are expected to be flat or slightly higher Tuesday after US President Donald Trump's statements on trade tensions between the US and China soothed investor nerves. "Don't worry about China, it will all be fine!," Trump wrote in a Truth Social post, adding that the US did not want to "hurt" China. This comes after China accused US of "double standards" over its additional 100% tariff on Chinese goods imported in the US.

 

The Chinese government said this move is "a typical example of US double standards" and China could introduce its own unspecified "countermeasures" if Trump carries out his threat, adding it was "not afraid" of a possible trade war, according to a BBC report. On the other hand, US Treasury Secretary Scott Bessent Monday said Trump is still scheduled to meet Chinese leader Xi Jinping in South Korea later this month.

 

Back home, equity indices will also likely take cues from the announcements of quarterly earnings of companies which will pick up momentum in the coming sessions. Tata Motors will be in focus as exchanges will hold a special trading session for price discovery of the company's stock, which will represent passenger vehicles operations.

 

At 0809 IST, the GIFT Nifty's October contract was at 25322.50 points, nearly 92 points higher than the Nifty 50's closing level Monday. The Nifty 50 settled at 25227.35 points, down 58 points or 0.2% on Monday and the BSE Sensex ended at 82327.05, down 173.77 points or 0.2%. Analysts maintain their positive view on the Nifty 50 till it holds above 25000 points on closing basis.

 

Additionally, investors will react to the September quarter earnings of HCL Technologies and the post-results management commentary, which came in after market hours Monday. Tech Mahindra, a Nifty 50 company, is slated to declare its September quarter results later in the day. LG Electronics India Ltd. is set to list on the bourses Tuesday.

 

On the global front, US indices ended sharply higher Monday, led by gains in Broadcom and other chipmakers, after Trump struck a conciliatory tone about renewed US-China trade tensions, easing investor worries. However, safe-haven gold hit fresh record highs, signalling continued uncertainty. On the other hand, Asian indices were mixed in early trade Tuesday.  (Simran Rede)

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Equity Alert: US indices rise amid signs of easing trade tensions with China

 

MUMBAI--0740 IST--Equity indices in the US partially recovered from the sharp fall on Friday after US President Donald Trump's conciliatory statements on trade with China boosted sentiment. In an interview with Fox Business Network, US Treasury Secretary Scott Bessent said Trump was on track to meet China's President Xi Jinping in South Korea as the two sides work on easing trade frictions. Artificial intelligence-related stocks were among the biggest gainers and shares of Broadcom surged on its deal with OpenAI.

 

Indices in the US had declined sharply Friday, following Trump's threats to impose additional 100% tariffs on China after Beijing earlier announced that it would expand its export controls on rare earths. However, Trump's post on Truth Social over the weekend indicated he might not follow through with his plans, media reports said. "Don't worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn't want Depression for his country, and neither do I," Trump wrote on Truth Social over the weekend.

 

The Dow Jones Industrial Average was 1.3% higher and the S&P 500 advanced almost 1.6%. The Nasdaq Composite advanced a little over 2%.

 

Broadcom and OpenAI Monday said they were jointly building and deploying 10 gigawatts of custom artificial intelligence accelerators as part of a broader effort across the industry to scale AI infrastructure, CNBC reported. Shares of Broadcom rose almost 10% and others in the same sector, such as Nvidia Corp. and Micron Technology advanced 3% and 6%, respectively. "AI continues to be the momentum driver, and it's not surprising investors have purchased the dip," Sam Stovall, chief investment strategist at CFRA Research, was quoted as saying by Reuters.

 

Among other stocks, shares of Oracle rose over 5?ter at least two brokerages raised their price target on the AI cloud firm, Reuters reported. Estee Lauder, a cosmetics company, ended nearly 6% higher after Goldman Sachs upgraded the stock's rating to 'buy' from 'neutral'. 

 

Following are the closing levels of US indices Monday:

 

Index	Level	Change in %
S&P 500	6654.72	1.56
NASDAQ Composite	22694.61	2.21
Dow Jones Industrial Average	46067.58	1.29

 

(Eshitva Prakash)

 

End

 

US$1 = INR 88.73

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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