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Informist, Thursday, Nov. 6, 2025                                      Tel +91 (22) 6985-4000

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Equity Alert: Nomura ups Bharti Airtel target price 23% on robust growth view

 

MUMBAI--0820 IST--Global brokerage Nomura raised its target price for Bharti Airtel by 23% to INR 2,280 from INR 1,850 due to increased estimates for the company's India wireless and homes businesses. It also maintained its 'buy' rating on the stock. On Tuesday, the stock had closed nearly 2% higher at INR 2,113.30 after reporting its September quarter earnings. 

 

"We raise EBITDA (earnings before interest, tax, depreciation and amortisation) by 10%/6% as we consolidate Indus Tower and fine tune our ARPU (average revenue per user) and subscriber estimates," Nomura said in its report. "For India wireless, we cut FY26/27 ARPU by 3%/6% to INR260/INR285, factoring in 11%/10% growth...Bharti's FY26 EBITDA has 2% sensitivity to every INR 10 change in ARPU at current EBITDA margins," the brokerage said. The broking firm raised its target price on the stock due to "higher target EV/ EBITDA multiple of 12x vs 11x earlier for the India wireless and homes businesses."

 

The brokerage forecasts the company's consolidated EBITDA to grow at a 14% compounded annual growth rate over 2025-26 (Apr-Mar) and FY28 due to healthy average revenue per user and moderate subscriber growth, along with gradual margin expansion for the wireless business. The brokerage also sees healthy subscribers growth in the homes business and expects the segment to see strong growth over the next 4-5 years with the potential for tariff increase beyond the "land grab" period.  (Akash Mandal)

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Equity Alert: Indices may fall a bit more after strong gains last month

 

MUMBAI--0820 IST--Benchmark equity indices may fall some more but are likely to rebound in the near term after the ongoing "corrective phase", post robust gains in October. The Nifty 50 may test 25500-25450 levels in the near term, analysts said.

 

"This consistent weakness (over the past few sessions) reflects increasing caution among market participants...the confirmed double-top breakdown has further deteriorated the technical structure, opening the door for a potential extension of the corrective phase," Dhupesh Dhameja, derivatives research analyst at SAMCO Securities, said in a note.

 

"From a technical standpoint, the (Nifty 50) index appears to be in a bearish-to-range-bound setup as long as it fails to sustain above the swing high of 26100...unless the index decisively reclaims the 25800–25900 zone, short sellers are likely to dominate, using any rebound to initiate fresh positions," Dhameja added.

 

On Tuesday, the Nifty 50 had ended at 25597.65 points, down 165.70 points or 0.6%. The Sensex had closed at 83459.15 points, down 519.34 points or 0.6%. The market was closed on Wednesday on account of Guru Nanak Jayanti.

 

Overnight, indices in the US ended higher buoyed by hopes of the rollback of some of President Donald Trump's tariffs and higher-than-expected private payrolls data for October. Indices in Asia were also higher Thursday, with Japanese indices leading gains.

 

Apollo Hospitals Enterprise, ABB India, Mankind Pharma, Godrej Properties, Lupin, Cholamandalam Investment and Finance Co., Life Insurance Corp. of India, Bajaj Housing Finance, UPL, Zydus Lifesciences, NHPC, and Cummins India are scheduled to report their quarterly numbers Thursday.  (Akash Mandal)

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Equity Alert: Asia indices rise tracking gains in US market, tech stocks up 

 

MUMBAI--0815 IST--Asian equity indices rose Thursday due to positive cues from the US market, which gained on higher-than-expected payroll data in the US and a rise in technology stocks. Asian indices shrugged off losses incurred on Wednesday and traded near record highs in early trade Thursday. 

 

The US added 42,000 jobs to private payrolls in October, according to the ADP National Employment Report released Wednesday morning. Economists polled by The Wall Street Journal had expected a lower increase of 22,000 jobs, according to Dow Jones News Wires. 

 

Japan's Nikkei 225 index was among the top gainers in the Asian market, rising over 1%. Shares of SoftBank rose 1.5% recovering from steep losses incurred during Wednesday's session, when it fell 10%, according to a report by CNBC. Artificial intelligence-related companies were trading higher, with Advantest, which supplies testing equipment to Nvidia, rising nearly 4%. Chip equipment maker Disco Corp gained nearly 5%. The broader Topix First Section gained nearly 1%. 

 

Among other top gainers in the Asia-Pacific region, China's CSI 300 index was up over 1% and the SSE Composite index rose nearly 1%. Hong Kong's Hang Seng index was the biggest gainer, rising 1.4% in early trade. Indonesia's IDX Compsite moved between gains and losses. 

 

Investors will keep an eye out on the outcome of the US Supreme Court's hearing on the legality of Washington's reciprocal tariffs imposed on various countries. 

 

Following were the levels of key Asian indices at 0810 IST:

 

Index	Level	Change in %
CSI 300 Index	4690.2284	1.36
Hang Seng Index	26308.82	1.44
Nikkei 225 Day	50768.89	1.11
TOPIX FIRST SECTION	3302.79	1.06
KOSPI	4030.71	0.66
FTSE Singapore Strait Times	4460.25	0.98
S&P/ASX 200 Index	8821.4	0.22

 

(P. Madhu Kumar)

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Equity Alert: US indices end higher on hope of rollback of some tariffs

 

MUMBAI--0735 IST--US equity indices ended higher Wednesday after US Supreme Court judges grilled the US administration on President Donald Trump's reciprocal tariffs, raising hope that some of the levies might be rolled back. Additionally, ADP's national employment report showed private payrolls in the US rebounding in October and rising by 42,000, lifting sentiment.

 

The US apex court focussed its questions on the legality of reciprocal tariffs imposed by the administration on imports from several countries, under the International Emergency Economic Powers Act, CNBC reported. "We continue to see this sort of debate on ...how effective they are, I don't know we're going to know the tariff effect, the resolution of it and the price effect of it until the first quarter of next year, so that adds to this kind of disillusionment," Phil Blancato, chief market strategist at Osaic, was quoted by CNBC as saying. 

 

The S&P 500 index Wednesday closed 0.4% higher, after falling in the previous session. The Nasdaq Composite index was up 0.7% and the Dow Jones Industrial average index gained 0.5%.

 

Among US companies that reported robust third quarter earnings, AMD posted higher-than-expected earnings for the September quarter, after which the stock ended over 2% higher. Among other technology stocks, Broadcom and Micron Technology ended 2% and 9% higher, respectively.

 

Following are the closing levels of US indices overnight: 

 

INDEX	LAST LEVEL	CHANGE IN %
Dow Jones Industrial Average	47311	0.48
Nasdaq Composite	23499.8	0.65
S&P 500	6796.29	0.37

 

(P. Madhu Kumar)

 

End 

 

US$1 = INR 88.66

 

Edited by Tanima Banerjee

 

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