Equity Alert
HBL Engg rises 15% to record high; Q2 consol PAT jumps 4-fold
This story was originally published at 14:23 IST on 10 November 2025
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Equity Alert: HBL Engg rises 15% to record high; Q2 consol PAT jumps 4-fold
MUMBAI--1410 IST--Shares of HBL Engineering surged around 15% to hit a fresh record high of INR 1,122 after its bottom line for the September quarter saw an over four-fold jump supported by a 135% on-year rise in its top line outpacing the 63% rise in expenses. At 1405 IST, shares of the company traded around 12% higher at INR 1,096 on the National Stock Exchange and was the top gainer in the Nifty 500 index. So far in the session, over 22 million shares of the company changed hands on NSE, compared with the 928,229 shares traded till the same time Friday.
The battery manufacturer, late Saturday, reported a consolidated net profit of INR 3.87 billion for the reporting quarter, up nearly 344% on year and over 170% sequentially. Its top line for the quarter more than doubled both year-on-year and sequentially to INR 12.23 billion. The company's total expenditure for the quarter grew nearly 63% on year to INR 6.94 billion.
The company's top line for the quarter was boosted by a near eight-fold on-year jump in revenue from its electronics segment to INR 7.94 billion and a near 2% rise in revenue from its industrial business segment to INR 3.88 billion. Revenue from its defence and aviation batteries segment, on other hand, declined around 14% on year to INR 298.1 million.
However, the company management noted that the September quarter was exceptionally good and it currently does not expect similar results repeated in any single quarter over the next few years. Meanwhile, the company expects 2025-26 (Apr-Mar) to be an exceptional year, it said along with quarterly earnings update. (Arya S. Biju)
Equity Alert: Neuland Labs off high after scaling new peak on robust Q2 PAT
MUMBAI--1357 IST--Shares of Neuland Laboratories hit an all-time high of INR 19,747 Monday, rising as much as 11%, after the company reported robust earnings for the September quarter after market hours Friday. The stock was the top gainer in the Nifty 500 in early trade, but it came off the high and at 1352 IST was up just 1.4% at INR 18,082.
Following the results, Nuvama Institutional Equities raised its target price on the stock by 25% to INR 22,130 while retaining its "buy" rating. The company exceeded analysts' consensus estimate for revenue by 18%, for earnings before interest, taxes, depreciation, and amortisation by 46%, and for net profit by 59%, Nuvama noted.
The growth across segments, particularly in the high-margin custom manufacturing solutions and specialty generic drug substances segments, drove the company's strong performance during the reporting quarter, the brokerage said. "A strong product mix aided a solid margin performance," it said.
Nuvama believes the company has strong mid-term growth drivers and may also see product additions. The brokerage has raised its estimate for earnings per share by 52% for the financial year 2025-26 (Apr-Mar) and by 19% for FY27. The company's revenue grew 65% on year to INR 5.14 billion, 27?ove Nuvama's estimate.
Its gross margin was 64.3% during the quarter, up 209 basis points on year and 130 bps higher than the brokerage's estimate. The company's EBITDA soared 150% on year to INR 1.56 billion, which is the highest so far, Nuvama said. Its EBITDA margin was 30.2%, higher than the 20% recorded a year ago. The company reported a net profit of INR 969 million, almost tripling on year. Its capital expenditure for Apr-Sept was INR 1.70 billion.
JM Financial Institutional Securities also has a "buy" rating on the stock with a target price of INR 19,053. The stock had risen just 1.6% ahead of the company's earnings. So far Monday, 376,394 shares of the company have changed hands on the NSE, higher than 83,733 shares traded during the same period Friday. (Simran Rede)
Equity Alert: NALCO rises 9% to 1-year high on upbeat Jul-Sept results
MUMBAI--1332 IST--Shares of National Aluminium Co. rose 9% to INR 257.47, the highest level since Nov. 25, 2024,following strong September quarter results. Both its net profit and revenue from operations came in better than estimated. The company outlined an INR-300-billion investment plan to build an aluminium smelter along with a captive power plant by 2030. Systematix Shares and Stocks (India) upgraded the stock to "buy" with a target price of INR 277 on anticipation of increased capacity utilisation.
For the September quarter, the company's net profit increased nearly 35% on year to INR 14.33 billion. Its revenue from operations rose over 7% to INR 42.92 billion. An over-3% on-year fall in company's total expenses to INR 25.49 billion also boosted its performance during the quarter under review.
The management guided for 1.25 million tonne alumina sales in 2025-26 (Apr-Mar) and 500 kilo tonne incremental alumina sales in FY27 with the commissioning of the 5th stream refinery, Systematix said in a post-earnings report. NALCO's 5th alumina refinery stream is 80% completed and is expected to commission ahead of the targeted June, 2026. "Continued delays in project commissioning and softer commodity price environment would prevent stock re-rating," the broking firm said. The brokerage expects the company's profitability to be driven by higher aluminium LME prices, elevated aluminium realisations and premiums, and lower cost of production driving margin gains witnessed in Apr-Sept.
At 1328 IST, the company's shares were trading at INR 255.74, up 9%. The stock is up over 7% in the past seven days and has risen 14% in the past 30 days. The company's market capitalisation increased 9% from Friday to INR 469.77 billion. So far, more than 45 million shares changed hands on the NSE, more than five times the 8.42 million shares during same time Friday. (Gopika Balasubramanium)
Equity Alert: Most Asian mkts end higher on hope of end to US govt shutdown
MUMBAI--1330 IST--Most Asian indices ended higher Thursday buoyed by optimism in the market on likely end to the record breaking US government shutdown. South Korea's Kospi was the biggest gainer among Asian indices, rising over 3% due to gains in technology stocks.
Financial stocks in South Korea gained due to expectations of tax cuts. A spokesperson from South Korea's ruling Democratic Party mentioned the need to make dividend income tax rules more "reasonable", hinting at potential tax cuts, according to media reports.
The US Senate on Sunday took the first major step toward ending the ongoing government shutdown. With 60 votes in favour and 40 against, senators approved a "cloture motion" on a bill known as the H.R. 5371 – the Continuing Appropriations and Extensions Act, 2026. "The voting allows the Senate to move forward with debating and passing the funding bill that would reopen the government and restore funding to key departments and agencies. This is not the final vote yet, but it is a crucial procedural step showing that enough senators, both Democrats and some Republicans, support ending the shutdown," Riya Singh a research analyst with Emkay Global Financial Services, said in a note.
Japan's Nikkei 225 index rose over 1% and the Topix First Section gained 0.6%. On Monday, minutes from the Bank of Japan's October meeting revealed that the bank seemed more inclined toward a near-term rate hike, saying that "it is likely that conditions for taking a further step toward the normalization of the policy interest rate have almost been met," CNBC reported
Among other indices, Australia's SP/ASX 200 index rose nearly 1%. China's CSI 300 index gained 0.4% and the SSE Composite index was up 0.5%. Singapore's FTSE Singapore Strait Times was the only index in the red, which fell marginally.
Following were the levels of key Asian indices at 0813 IST:
|
Index |
Level |
Change in % |
|
CSI 300 Index |
4675.71 | (-)0.07 |
|
Hang Seng Index |
26406.85 | 0.63 |
|
Nikkei 225 Day |
50766.89 | 0.98 |
|
TOPIX FIRST SECTION |
3307.39 | 0.26 |
|
KOSPI |
4057.65 | 2.63 |
|
FTSE Singapore Strait Times |
4467.75 | (-)0.55 |
|
S&P/ASX 200 Index |
8826.60 | 0.65 |
(P. Madhu Kumar)
Equity Alert: Transformers and Rectifiers hits 20% lower circuit at INR 313.55
MUMBAI--1243 IST--Shares of Transformers and Rectifiers India hit a 20% lower circuit at INR 313.55 after the company on Saturday reported on-year decline in its consolidated net profit and revenue for the September quarter. The stock was down for the seventh consecutive session and fell nearly 32% during this period. Over 2.8 million shares of the company have changed hands on the NSE so far Monday compared to over 2.5 million shares traded Friday.
The company's consolidated net profit fell 25% on year and nearly 45% on quarter to INR 373.5 million in the September quarter. Its top line for the period declined marginally on year and over 13% sequentially to INR 4.60 billion. The company's total expenses rose nearly 5% on year to INR 4.29 billion in Jul-Sept. Sequentially, expenses fell nearly 7%. The on-year rise in expenses was driven by a 38% surge in raw material costs at INR 4.68 billion.
Both ICICI Direct Research and Nuvama Institutional Equities have a 'buy' rating on the stock, with target price of INR 615 and INR 705, respecitively. (P. Madhu Kumar)
Equity Alert: Sugar cos rise; govt OKs export quota, lifts duty on molasses
MUMBAI--1250 IST--Shares of sugar makers rose Monday after the government approved the export of 1.5 million tonnes of sugar for the 2025-26 (Oct-Sept) season and decided to remove the 50% export duty on molasses. Shortly after opening, shares of Simbhaoli Sugars rose around 5% and hit upper limit of INR 10.79. At 1232 IST, Shares of Balrampur Chini Mills, Uttam Sugar Mills, Sakthi Sugars, Bajaj Hindusthan Sugar, Shree Renuka Sugars, Dwarikesh Sugar Industries, and Dhampur Sugar Mills traded around 2-6% higher. The sugar exports will help reduce sugar stocks in the country and support local prices, benefiting sugar producers.
The government's decision announced by Food Minister Pralhad Joshi in a letter dated Nov. 7 to Karnataka Chief Minister Siddaramaiah, was part of a broader set of measures outlined by the government, aimed at supporting the interests of sugarcane farmers in India. Allowing export will help mills clear cane dues to farmers. The sugar industry had urged the government to allow exports of 2.0 million tonnes sugar for the current sugar season starting October.
The Indian Sugar & Bio-Energy Manufacturers Association, in its first advanced estimate, has pegged the gross sugar output in the 2025–26 season at 34.4 million tonnes. After diversion of 3.4 million tonnes for ethanol production, the association has pegged the country's net sugar output at 30.95 million tonnes. (Arya S. Biju)
Equity Alert: Trent plunges to 17-mo low; weak Q2 triggers target price cuts
MUMBAI--1200 IST--Shares of Trent plunged over 7% to a 17-month low of INR 4,296 after a host of brokerages cut their target prices on the stock following tepid September quarter earnings and slowdown in growth. At 1156 IST, the stock traded 6.8% lower at INR 4,313 and was by far the worst hit in the Nifty 50.
Global brokerage Jefferies cut its target price on the stock by 17% to INR 5,000 while maintaining a 'hold' rating. The brokerage noted the continued decelaration in growth and low single-digit like-for-like growth, NDTV Profit cited. Citi downgraded the stock to 'sell' and sharply reduced its price target to INR 4,350 from INR 7,150 earlier, CNBC-TV18 reported. With overall consumption trends remaining weak, coupled with increasing competition, cannibalisation, and aggressive expansion in tier-2 and tier-3 markets, Trent's growth rate is likely to moderate further, the brokerage said. It also cut its FY26-28 revenue estimates for the company by 6-19% and earnings before interest, tax, depreciation, and amortisation estimates by 2-12%.
Nuvama cut its target price on the stock to INR 5,189 from INR 5,850 and maintained a 'hold' rating. "The growth momentum moderated owing to an expanding mix of tier-2 and new stores, which have a higher gestation period than the existing network...profitability was pressured by slower productivity, but benefited from significant cost optimisation," the brokerage said in its report. "We are tweaking revenue/EBITDA/PAT estimate for FY26 by -3.6%/-4.1%/-9.5% and for FY27 by (-)3%/(-)3.1%/(-)9.8%," it added.
By 1156 IST, 2.97 million shares of the company were traded on the NSE, sharply higher than the 242,156 shares traded till the same time Friday. (Akash Mandal)
Equity Alert: SJVN shares marginally down ahead of likely weak Q2 results
MUMBAI--1157 IST--Shares of SJVN were down marginally as the state-owned power company is expected to post an on-year fall in its net profit and revenue for Jul-Sept, primarily due to subdued power generation. The company will detail its September quarter earnings Monday. At 1113 IST, shares of the company were marginally down at INR 84.50 on the National Stock Exchange.
There is only one estimate for the company's September quarter earnings, from JM Financial Institutional Securities Pvt Ltd. As per the brokerage, the company is expected to report a net profit of INR 3.93 billion, down nearly 17% on year but up 52% sequentially. The top line of the company is estimated at INR 9.77 billion, down nearly 2% on year but up nearly 19% sequentially. The state-owned power company is expected to post moderate growth primarily due to an on-year fall of 5% in power generation, according to the brokerage.
In the June quarter, SJVN reported a net profit of INR 2.59 billon on revenue of INR 8.22 billion. The earnings before interest, tax, depreciation, and amortisation of the company is expected at INR 7.83 billion and the EBITDA margin is expected to contract to 80.1% from 80.7% a year ago. In the trailing quarter, the reported EBITDA was INR 7.42 million and the EBITDA margin was 80.9%.
Of the two brokerage reports on the company available with Informist, one has a 'buy' rating at a target price of INR 131 and the other has a 'sell' rating with a target price of INR 75. (Adhithya Aji)
Equity Alert: Lenskart Solutions lists at INR 390 vs issue price of INR 402
MUMBAI--1015 IST--Lenskart Solutions listed on the BSE at INR 390, a discount of nearly 3% to the issue price of INR 402. At 1013 IST, the stock traded just over 1% lower at INR 397.45 and over three million shares of the company changed hands on the BSE.
The initial public offering, which ended Tuesday, was subscribed 28.26 times, with the company receiving bids for 2.82 billion shares against 99.76 million shares on offer. Ahead of the public offer, the company had raised INR 32.68 billion by issuing 81.30 million shares to anchor investors at INR 402 per share. The public offer comprised a fresh issue of shares aggregating up to INR 21.50 billion and an offer of sale of up to 127.56 million shares.
Lenskart Solutions is a technology-driven eyewear company with integrated operations spanning design, manufacturing, branding, and retailing. It primarily sells prescription eyeglasses, sunglasses, and other products, including contact lenses and eyewear accessories. (P. Madhu Kumar)
Equity Alert: Indices open higher Mon after 3 consecutive days of decline
MUMBAI--0935 IST--Indices opened higher Monday, after three days of losses. Gains in the Nifty 50 index were led by heavyweights Reliance Industries and Infosys, which rose around 1?ch. Asian Paints was the biggest gainer in the index, up nearly 2%.
At 0937 IST, the Nifty 50 index was up 0.3% at 25570.15 points and the BSE Sensex index was 0.3% higher at 83465.90 points. Shares of Trent fell over 4?ter the company's revenue for the September quarter missed analysts' expectations by a slight margin. Power Grid Corp. Of India and Apollo Hospitals Enterprise were the among the biggest losers in the Nifty 50 index, down over 1?ch.
Most sectoral indices traded with gains in early trade with Nifty Oil & Gas, Nifty Metal and Nifty Energy rising nearly 1%. Nifty Media was the only index to fall, down 0.2%. All broader market indices were in the positive territory.
Among Nifty 500 constituents, HBL Engineering was among the biggest gainers, rising over 11?ter the company's consolidated net profit more than quadrupled on year to INR 3.87 billion. Reliance Power rose nearly 6?ter the company clarified Saturday that Amar Nath Dutta, who was arrested by the Enforcement Directorate in a matter of fake bank guarantee case, was in no way connected with the company and had no impact on its business operations, financial performance, shareholders, employees, or any other stakeholders.
Transformers and Rectifiers fell 20% to INR 313.55, hitting a lower circuit, after the company reported a 25?cline on year in its consolidated net profit. Shipping Corp. Of India was down over 6?ter the company reported a significant decline on year in its September quarter earnings. (P. Madhu Kumar)
Equity Alert: Most Asian indices rise in early trade; Kospi up nearly 3%
MUMBAI--0810 IST--Most Asian indices rose in early trade Monday, supported by strong cues from the US markets and a boost in the investor sentiment after China's October inflation data came in above expectations. US Senators reached an agreement on short-term funding measure Sunday, aimed at ending the record-breaking US government shutdown, according to a report by NBC News.
According to NBC News, the agreement reached by a group of Democrats, who teamed up with Republicans, should have the necessary 60 votes to clear the Senate, sources said. It then needs to pass the House and earn US President Donald Trump's signature to become law and reopen the government.
China's CSI index 300 index opened higher but fell into the negative territory soon and declined 0.4%. The SSE Composite fell marginally, down for the second straight session. China's headline inflation was at 0.2% year-on-year in October, according to the data released by the National Bureau of Statistics. This was against the expectations of zero growth from economists polled by Reuters. Wholesale inflation in October saw a softer-than-expected drop of 2.1% year on year, against the expected 2.2?cline.
South Korea's Kospi was the biggest gainer in early trade, rising nearly 3%. Gains in the index was supported by energy, financial stocks and chip stocks, Dow Jones News Wires reported. Among other gainers, Japan's Nikkei 225 index rose nearly 1% and Australia's SP/ASX 200 index rose 0.7%.
Following were the levels of key Asian indices at 0813 IST:
|
Index |
Level |
Change in % |
|
CSI 300 Index |
4675.71 | (-)0.07 |
|
Hang Seng Index |
26406.85 | 0.63 |
|
Nikkei 225 Day |
50766.89 | 0.98 |
|
TOPIX FIRST SECTION |
3307.39 | 0.26 |
|
KOSPI |
4057.65 | 2.63 |
|
FTSE Singapore Strait Times |
4467.75 | (-)0.55 |
|
S&P/ASX 200 Index |
8826.60 | 0.65 |
(P. Madhu Kumar)
Equity Alert: Mkt may start week tad up but near-term direction still hazy
MUMBAI--0807 IST--Benchmark indices are expected to be flat to slightly higher Monday and are largely to stay likely range-bound during the week amid lack of fresh triggers. However, a correction of nearly 1% last week may provide a good window for buying, some analysts said. The Nifty 50 is expected to move in a range of 25300-25800 points this week.
"From a technical standpoint, Nifty 50 continues to oscillate within a narrow range between its 20-day exponential moving average at 25589 and 50-DEMA at 25329...as long as the index remains confined within this zone, directional clarity is likely to stay elusive," Dhupesh Dhameja, derivatives research analyst at SAMCO Securities, said in a note.
The November contract of the GIFT Nifty indicates a flat to slightly higher start to the week for the market. At 0803 IST, the contract was up 85 points at 25622 points. On Friday, the Nifty 50 ended at 25492.30 points, down 17.40 points or 0.1%. The BSE Sensex closed at 83216.28 points, down 94.73 points or 0.1%.
On Friday, indices in the US ended mixed with the Nasdaq Composite registering its biggest weekly percentage drop since early April on concerns regarding sustainability of the artificial intelligence boom seen in recent times. All three indices were sharply lower for most of Friday but made up most of the fall late in the session following reports of progress on the impasse in the US Congress, which has resulted in the longest federal government shutdown in US history, Reuters reported. Most Asian indices were higher in early trade Monday, with South Korea's Kospi up over 2%. (Akash Mandal)
Equity Alert: Most US mkts end tad up Fri, losses in tech stocks cap gains
MUMBAI--0735 IST--Most US equity indices ended slightly higher Friday, even though the gains were capped due to extended losses in the technology stocks and also as more economic data of the country worried investors of a slowdown in the economy. Among major indices, the NASDAQ Composite index ended marginally lower Friday.
The monthly index of consumer sentiment posted a reading of 50.3 for November, indicating a decline of 6.2% from the previous month and about 30% from a year ago, according to the University of Michigan survey. Economists surveyed by Dow Jones had expected the index at 53.0 after October's 53.6, CNBC reported.
Late Friday, Senate Minority Leader Chuck Schumer offered up a new plan to Republicans that is likely to end the record-breaking US government shutdown. Under the proposal, short-term funding would be provided for the federal government operations in exchange for a one-year extension of enhanced Affordable Care Act tax credits, according to media reports.
Among major technology stocks, Advanced Micro Devices fell nearly 9% for the week ended Friday, Broadcom lost more than 5% this week. On Friday, artificial intelligence player Oracle fell almost 2%.
The S&P 500 index ended marginally higher and the Dow Jones Industrial Average ended 0.2% higher. The Dow Jones Transportation Average was among the biggest gainers, rising nearly 2%.
Following are the closing levels of US indices Friday:
|
INDEX |
LAST LEVEL |
CHANGE IN % |
|
Dow Jones Industrial Average |
46987.1 | 0.16 |
|
Nasdaq Composite |
23004.54 | (-)0.21 |
|
S&P 500 |
6728.8 | 0.13 |
(P. Madhu Kumar)
End
US$1 = INR 88.69
Edited by Akul Nishant Akhoury
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