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Informist, Friday, Oct. 31, 2025                                      Tel +91 (22) 6985-4000

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Equity Alert: Most Asian indices end lower after giving up early gains

 

MUMBAI--1436 IST--Most Asian indices Friday ended in the red after shedding gains from early in the day. The indices had opened higher after US and China reached a trade truce Thursday resulting in lower tariffs for imports of Chinese goods into the US. In return, China agreed to resume soybean purchases from the US and restart exports of rare earths to Washington.

 

Japan's Nikkei 225 rose over 2% to end as the top gainer among its Asian peers. Japan's broader index Topix First Section rose nearly 1%. South Korea's Kospi index rose 0.5% and was up for the third consecutive session.

 

China's CSI 300 index, down 1.5%, was the worst performer among Asian indices. Hong Kong's Hang Seng index fell over 1% and was down for the third straight session. A day after securing a deal for rollback of US tariffs, Chinese President Xi Jinping called on Asian countries to support free trade and maintain supply chain stability, CNBC reported. "The more turbulent the times, the more we must work together," CNBC quoted Jinping as saying.

 

Among other losers in the Asian region, Australia's SP/ASX 200 index fell marginally. Singapore's FTSE Singapore Straits Times fell over 0.1%. The SSE Composite index was down nearly 1%.

 

Following were the levels of key Asian indices at 1426 IST:

 

Index	Level	Change in %
CSI 300 Index	4640.6676	(-)1.47
Hang Seng Index	25906.65	(-)1.43
Nikkei 225 Day	52411.34	2.12
TOPIX FIRST SECTION	3331.83	0.94
KOSPI	4107.5	0.5
FTSE Singapore Strait Times	4430.47	(-)0.16
S&P/ASX 200 Index	8881.9	(-)0.04

 

(P. Madhu Kumar)

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Equity Alert: Patanjali Foods down 1% ahead of likely subdued Q2 earnings

 

MUMBAI--1430 IST--Shares of Patanjali Foods fell over 1% to an intraday low of INR 602.25 ahead of the company's September quarter earnings. The fast-moving consumer goods company is expected to report lower double-digit revenue growth, with net profit likely to remain largely steady on a yearly basis. At 1413 IST, the stock was down 0.8% at INR 604.85.

 

Systematix Shares and Stocks (India) Ltd. said Patanjali Foods net profit for the September quarter is expected at INR 3.08 billion, largely steady from INR 3.09 billion seen in the year-ago period. This is mainly due to subdued margins in the ethnic foods segment, the brokerage said. 

 

The company's net revenue is expected to rise over 12% on year to INR 91.44 billion, supported by strong growth in the edible oils segment and improved performance in biscuits, the brokerage said. It also expects a stable sequential performance in the company's home and personal care segment.

 

Systematix has a 'buy' rating on the stock, with a target price of INR 2,020. Going ahead, the brokerage said outlook on foods' growth, acquired home and personal care business, and edible oil pricing are key factors to monitor.   (J. Navya Sruthi)

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Equity Alert: Motilal Oswal falls 8%; co reports sharp decline in Q2 PAT

 

MUMBAI--1355 IST--Shares of Motilal Oswal Financial Services fell over 8% to a three-week low of INR 941.25 after the company reported a sharp decline in net profit for the September quarter, driven by a decline in its top line. As of 1351 IST, the stock was down nearly 6% at INR 965.55, with over four million shares changing hands on the NSE, compared with over 1.4 million shares traded till the same time Thursday

 

Motilal Oswal reported a 68?cline on year in its consolidated net profit for the September quarter to INR 3.62 billion. Its revenue fell nearly 35% on year to INR 18.49 billion. The company's revenue from the wealth management segment fell nearly 21% on year to INR 9.50 billion for the reporting quarter and the profit after tax of the segment fell 24% on year to INR 1.7 billion. 

 

Market share of the company in the cash-broking business was down in the September quarter due to turbulence in equities, the company's management said in its post-earnings conference call. The management also said it is planning to expand market share through alternative investment despite entry of new participants.  

 

Of the three brokerage reports on the company available with Informist, two brokerages have a 'buy' or equivalent rating, with an average target price of INR 1,057. Keynote Capitals has a 'neutral' rating on the stock, with a target price of INR 437.25.  (P. Madhu Kumar)

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Equity Alert: NTPC falls 3% as Jul-Sept sales down on year, misses estimate

 

MUMBAI--1048 IST--Shares of NTPC fell nearly 3% to an intraday low of INR 335.60 after the company's sales fell on year in the September quarter and missed analysts' estimates by a considerable margin. At 1046 IST, the stock traded 2% lower at INR 338.15 and was the worst hit on the Nifty 50. 

 

"EBITDA missed our estimate as weak power demand led to soft generation trends," Motilal Oswal said in its report. "We maintain a cautious view on execution, especially at NGEL (NTPC Green Energy...further, we believe valuations for NGEL (15% of our SOTP) have little room for rerating and may continue to face pressure," the brokerage said. The brokerage kept a 'neutral' rating on the stock with a target price of INR 372. 

 

The company's net profit for the September quarter was almost flat on year at INR 46.53 billion, the slowest on-year growth in six quarters. Its top line fell 8% on year to INR 391.67 billion, missing analysts' estimate of INR 425.12 billion by a wide margin. The company's revenue from its power generation operations fell 3% on year to INR 385.14 billion during the quarter.

 

At 1046 IST, 5.2 million shares of the company were traded on the NSE, sharply higher than the 1.2 million shares traded till the same time Thursday.  (Akash Mandal)

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Equity Alert: United Spirits surges 7% on stellar Jul-Sept performance

 

MUMBAI--1015 IST--Shares of United Spirits surged nearly 7% to an over four-month high of INR 1,488 after the company's stellar showing for the September quarter on most fronts. At 1005 IST, the stock traded at INR 1,469.60 on the NSE, up 5.4%, and was the top gainer in the Nifty 200. 

 

"United Spirits reported a solid set of numbers, with overall revenue (up 12% YoY)/EBITDA (up 33% YoY) - ahead of our consensus...strong performance was driven by Andhra coupled with innovation and renovation offerings and favourable base," Nuvama Institutional Equities said in a report. Motilal Oswal Financial Services also said the earnings beat its estimates, while margins soared to an all-time high during the quarter. Investors now eye the company's post-earnings conference call, due at 1600 IST. 

 

After market hours Thursday, the alcohol maker reported a net profit of INR 4.72 billion in the September quarter, up 41% on year and ahead on estimates. The bottom line growth was the highest in six quarters. Its revenue grew at the fastest on-year pace in three quarters to INR 71.92 billion, sharply above the Street's view. 

 

A near 8% on-year rise in sales volume aided an almost 12% growth in the company's net sales value, which is a true reflection of the company's top line as it discounts the excise duty. Its net profit margin for the quarter came in at 14.9%. The gross profit grew over 16% on year and the reported gross margin was 47.1%, implying an expansion of 190 bps from the year-ago quarter.

 

By 1005 IST, over 5 million shares of the company were traded on the NSE, sharply higher than the 123,607 shares traded till the same time Thursday.  (Akash Mandal)

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Equity Alert: Indices higher post slow start as some heavyweight stocks gain

 

MUMBAI--0930 IST--Benchmark equity indices recovered after opening marginally lower Friday as heavyweight stocks such as Reliance Industries, Larsen & Toubro, HDFC Bank, and State Bank of India rose. At 0940 IST, the Nifty 50 was at 25942.40 points, up 62.65 points or 0.3%, and the BSE Sensex was at 84641.61 points, up 237.68 points or 0.3%.

 

NTPC was down 1.4% and was among the worst hit stocks in the Nifty 50 after reporting the slowest on-year net profit in six quarters during Jul-Sept. Cipla extended its decline for the second session after multiple brokerages downgraded the stock due to lower margin guidance and earnings visibility. Bharat Electronics and Maruti Suzuki were among the top gainers in the index, ahead of their second quarter earnings later in the day, up 1%. Most sectoral indices and broader market indices traded with gains.

 

Among other stocks, United Spirits rose 7% and was the top gainer in the Nifty 200 after the on-year growth in its bottom line for the September quarter was the highest in six quarters and the top line growth was the fastest in three quarters. Navin Fluorine International surged 13?ter its profit more-than-doubled on year and came in ahead of analysts' estimates.

 

Motilal Oswal Financial Services plunged 5% and was the worst hit in the Nifty 200 after its profit and revenue fell sharply on year in the reporting quarter. Bandhan Bank was down 5?ter its net profit fell year-on-year for the second consecutive quarter, declining at the fastest pace in six quarters and missing the consensus view.  (Akash Mandal)

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Equity Alert: Brokerages downgrade Cipla on weak earnings view, lower margin

 

MUMBAI--0845 IST--Nirmal Bang Equities has downgraded its rating on Cipla to 'hold' from 'buy' and cut the target price to INR 1,654 from INR 1,871 due to mixed results in the September quarter. On Thursday, the stock ended at INR 1,540.10 on NSE, down 2.6% from the previous close. 

 

"Cipla's September quarter results were a mixed bag; revenue beat consensus but (the company) missed on (the) margin front due to higher raw material costs...Revenue beat was on account of double-digit growth in One Africa and EU & emerging markets business(es), Nirmal Bang said in its report. The company has almost exhausted its quota of Lenalidomide for 2025-26 (Apr-Mar) and reduced its earnings before interest, tax, depreciation, and amortisation margin guidance to 22.5-24.0% for FY26, the brokerage said.

 

On account of elevated R&D spends, slower-than-industry growth in the India business, and slower-than-expected ramp-up in the generic of Abraxane, we see limited near-term visibility on earnings, the brokerage said. It remained positive on the stock for the longer run, adding that overall growth, going ahead, will mainly be driven by outperformance in the domestic market and limited-competition launches in the US. 

 

Brokerage firm Prabhudas Lilladher also downgraded the stock to 'accumulate' from 'buy' and reduced the target price to INR 1,675 from INR 1,730 due to the management's outlook of lower margin for FY26. The change in key personnel after Managing Director and Global Chief Executive Officer Umang Vohra stepping down is also likely to weigh on the stock, the brokerage said. Timely launch of critical high-value products in the US in the second half of FY26 and in FY27 will be key, the brokerage added. 

 

Morgan Stanley kept an 'underweight' rating on the stock with a target price of INR 1,396 due to muted outlook on the stock's earnings per share, NDTV Profit reported. The brokerage sees earnings slowing down in the near term and limited earnings visibility until the second half of the current financial year.

 

Citi, however, maintained a positive outlook on the stock with a ‘buy' rating and a target price of INR 1,800. The brokerage sees the company having multiple levers such as approvals for drugs in the US and improving sales in India for improving margin in FY27, NDTV Profit reported. The brokerage also added the change in management was in line with its expectations.  (Akash Mandal)

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Equity Alert: Asian mkts remain mixed after US inks trade deal with China

 

MUMBAI--0836 IST--Asian markets remained mixed for the second session in a row Friday after the US signed a trade deal with China Thursday. The much-awaited trade deal eased worries about a full fledged trade war between the two countries and de-escalated the dispute over rare earth magnets. The MSCI Asia-Pacific index, excluding Japan, was flat at 924.08 points.

 

"Both sides (the US and China) appear to be maintaining leverage for future negotiations by keeping these measures as bargaining chips," Chaoping Zhu, global market strategist at JPMorgan Asset Management told CNBC-TV18. However, uncertainty persisted after US Federal Reserve Chair Jerome Powell Wednesday said another interest rate cut in December is "far from assured". While the equity market in Japan hit a new record Friday and led the gains in Asia, the Chinese market fell on likely profit booking after the country signed the trade deal with the US. 

 

Japan's Nikkei 225 and Topix hit fresh record highs during the day and were up 1.2% and 0.4%, respectively. The market rose after the Bank of Japan kept its policy rate unchanged at 0.5%, in line with expectations. Gains were led by shares of information technology companies in Japan. Investors are closely watching any progress in Prime Minister Sanae Takaichi's policy steps to boost the economy, Dow Jones Newswire reported. 

 

On the other hand, among the laggards in the region were FTSE Singapore Straight, Hong Kong's Hang Seng, and China's CSI 300, which were down 0.2-0.9%. Investors will continue to track the ongoing earnings season and further updates from the US with respect to trade and tariffs. 

 

Following were the levels of key Asian indices at 0836 IST:

 

Index	Level	Change in %
CSI 300 Index	4664.4431	(-)0.97
Hang Seng Index	26105.31	(-)0.67
Nikkei 225 Day	51948.26	1.21
TOPIX FIRST SECTION	3313.71	0.39
KOSPI	4108.66	0.53
FTSE Singapore Strait Times	4429.04	(-)0.19
S&P/ASX 200 Index	8904.5	0.21

 

(Anjana Therese Antony)

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Equity Alert: Indices likely to fall Fri but overall view remains positive 

 

MUMBAI--0804 IST--Benchmark indices may fall more on Friday but the overall view remains positive as the market is seen rallying in the near term, analysts said. On Friday, the Nifty 50 is likely to move in a range of 25700-26000 and may face a strong resistance at 26000-26100 levels. 

 

The 50-stock index may fall to the 25700 level during the day before rallying again and heading towards its all-time high of 26277.35 points, Kunal Shah, senior derivatives analyst at Mirae Asset Sharekhan, said in a note. Shah expects the index to reach a record high as early as next week. 

 

"...as long as the market (Nifty 50) is trading below 26000, the weak sentiment is likely to continue on the downside, with the market potentially slipping to 25800," Shrikant Chouhan, head of equity research at Kotak Securities, said in a note. On Thursday, the Nifty 50 ended at 25877.85 points, down 176.05 points or 0.7%. The BSE Sensex closed at 84404.46 points, down 592.67 points or 0.7%.

 

Overnight, indices in the US ended lower as Meta and Microsoft shares plunged due to worries over surging artificial intelligence spending. Meta plumetted 11%, Reuters reported. Microsoft fell 3?ter the company reported a record capital expenditure of nearly $35 billion for the quarter and and warned that spending would rise this year. Asian indices were mixed in early trade Friday, with the Japanese market hitting a record high.  (Akash Mandal)

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Equity Alert: US mkt ends down Thu; tech stocks fall on AI spend worries

 

MUMBAI--0800 IST--The US stock market closed slightly lower Thursday, dragged down by losses in heavyweight information technology stocks amid concerns about spending on artificial intelligence projects. Investors are also keeping a close watch on the ongoing earnings season and lack of data from the US government due to its shudown. However, worries related to trade and tariffs eased after US President Donald Trump signed a one-year trade truce with his Chinese counterpart Xi Jinping in South Korea Thursday. 

 

Effective immediately, Trump agreed to cut tariffs on China tied to fentanyl by 10%, reducing levies on Chinese imports to the US to around 47%. China agreed for a one-year pause on the rare earth magnets export controls it had announced earlier this month, CNBC-TV18 reported. 

 

"We're in this period where the government is shut down... so we really have to look at these earnings and see how are companies faring, how are their consumers faring," Courtney Garcia, senior wealth advisor at Payne Capital Management, told CNBC-TV18 Thursday. "The fact that we're continuing to see this all come out positive, I think this is a generally good sign for the economy moving forward."

 

The three benchmark US indices – Dow Jones Industrial Average, S&P 500, and Nasdaq Composite – closed lower by 0.2-1.6%. These indices had hit record highs Wednesday. Major IT stocks such as Meta, Microsoft, and Nvidia fell 2-11% amid concerns about spending on AI. On the other hand, shares of Apple rose more than 3?ter the company reported strong earnings for the latest quarter. Netflix rose over 3?ter it announed a stock split of 10 shares for each share. 

 

Following are the closing levels of US indices Thursday:

 

Index	Level	Change in %
S&P 500	6822.34	(-)0.99
NASDAQ Composite	23581.144	(-)1.57
Dow Jones Industrial Average	47522.12	(-)0.23

 

(Anjana Therese Antony)

 

End

 

US$1 = INR 88.76

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

 

Edited by Nishant Maher

 

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