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Informist, Tuesday, Nov. 11, 2025                                        Tel +91 (11) 4220-1000

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Equity Alert: Torrent Power marginally up ahead of likely steady Q2 results

 

NEW DELHI--1020 IST--Shares of Torrent Power traded slightly higher ahead of the company's earnings for the September quarter Tuesday. Torrent Power is likely to report steady earnings, aided by higher generation from gas-based plants, according to JM Financial. At 1023, shares of the company were at INR 1,322.70, up 0.8%. More than 123,000 shares of the power company were traded so far, higher than over 74,400 shares traded till same time Monday. 

The brokerage firm expects Torrent Power's consolidated revenue to rise 4% on year to INR 74.33 billion in Jul–Sept, driven by a 3% increase in gas generation. Net profit is estimated to rise 45% on year to INR 6.98 billion, but soften from INR 7.31 billion in Apr–Jun. The company had reported a net profit of INR 4.81 billion and revenue of INR 71.76 billion in the year-ago quarter. JM Financial said partial operationalisation of the company's gas-based power plants supported earnings growth.

 

EBITDA is seen up 18% on year at INR 14.21 billion, compared with INR 12.07 billion in the year-ago period. Sequentially, however, it may decline from INR 14.83 billion. Stable fuel and power purchase costs are seen supporting margins, JM Financial said. 

 

In the broader sector, India's power demand showed some recovery after a weak June quarter. Following subdued power demand in Apr–Jun, when energy and peak demand fell 1% and 3% on year, energy demand rose 3% and peak demand was flat in Jul–Sep, the brokerage said. Early monsoon rains boosted hydro generation by 13% and solar and wind pwer output by 18% and 22%, respectively, leading to a dip in thermal plant load factor to 62%, compared with 65% a year ago. The trend is relevant for Torrent Power, which has exposure to both thermal and renewable energy segments.

 

Of the five brokerage reports available with Informist on the company, two have a ‘buy' or equivalent rating, two have a ‘sell' or equivalent rating, and one has a ‘hold' rating. The buy ratings have an average target price of INR 1,482. The stock has risen about 0.3% since its June quarter earnings were announced on Aug 5, when shares closed at INR 1,313.60. (Pallavi Singhal)

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Equity Alert: Rail Vikas Nigam up over 1% ahead of likely robust Q2 results

 

MUMBAI--0956 IST--Shares of Rail Vikas Nigam rose over 1% to an intraday high of INR 320.30 ahead of the company's September quarter earnings, scheduled later in the day. IDBI Capital Market Services expects the company's top line to rise 22% on year to INR 3.68 billion, while the bottom line is seen rising just around 0.5% to INR 48.71 billion. At 0947 IST, the stock traded 0.4% higher at INR 317.25.

 

Sequentially, the net profit is seen nearly tripling, while the bottom line is seen rising 25%. "We expect RVNL (Rail Vikas Nigam)to deliver moderate revenue performance in Q2 FY26 (Jul-Sept), with expectations of a sequential recovery from its Q1 contraction...in Q1FY25, revenue declined 3.42% YoY, partly due to a drop in contributions from Ministry-nominated railway projects," IDBI Capital said in its report. The company's management expects improved execution in the quarter under review due to ramp-up of newer competitively-bid projects, the brokerage added.

 

It expects the company's earnings before interest, tax, depreciation, and amortisation margin to come in at 5.8% in Jul-Sept, compared to the 1.4% reported in the previous quarter and the 5.6% reported in the year-ago quarter. "...in Q2, margins are expected to recover modestly as project claims, change orders, and improved scale dilute these fixed drag factors," IDBI Capital said.

 

In the previous quarter, the company's margins had fallen, weighed down by one-time pre-bid expenses of INR 200 million for BharatNet and an onerous contract recognition, it added. IDBI Capital, the only brokerage available with Informist that tracks the stock, has a 'hold' rating with a target price of INR 340.  (Akash Mandal)

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Equity Alert: Bosch down 1% ahead of its Jul-Sept earnings 

 

MUMBAI--0953 IST--Shares of Bosch Ltd. fell nearly 1% to a low of INR 37,025 ahead of the company's September quarter earnings disclosure. The auto components maker is expected to report lower double-digit revenue growth and mid-double-digit growth in its net profit on a year-on-year basis. At 0951 IST, the stock was down 0.5% at INR 37,080.

 

Motilal Oswal Financial Services Ltd. said the company's net profit is expected to remain largely flat on quarter but grow 15% on year to INR 5.63 billion for the September quarter. The company's revenue could grow 11% on year and 1.9% on quarter to INR 48.78 billion.

 

"We expect 11% YoY revenue growth, driven by aftermarket growth in the mobility division and pickup in demand in CV and 2Ws in 2Q," Motilal Oswal said. The brokerage expects Bosch to report a margin of 13.2% for the reporting quarter, compared to 12.8% in the base quarter and 13.4% in the June quarter. 

 

Automobile component players are expected to report better earnings growth in the September quarter, partly driven by robust automobile sales during the reporting period. This was driven by festival season demand and goods and services tax cut which led to reduced vehicle prices.

 

Motilal Oswal Financial Services has a "neutral" rating on Bosch with a target price of INR 36,375.  (Anand JC)

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Equity Alert: Indices fall after opening in green, Bajaj Finance down 7%

 

MUMBAI--0940 IST--Benchmark indices opened higher Tuesday, buoyed by a slew of positive triggers such as strong global cues and US President Donald Trump's comments on striking a trade deal with India. However, soon after, the indices were in the negative territory having moved between gains and losses for a brief period. Earlier, the gains in the Nifty 50 index were led by information technology stocks while Bajaj Finance and Bajaj Finserv dragged the index down. 

 

Trump said his country was coming closer to making a "fair trade deal" with India. "We're making a deal with India. Much different than we had," Trump Monday said during the swearing-in ceremony of Sergio Gor as the Ambassador to India. "Right now they don't love me but they will love us again. We're getting a fair deal." 

 

Bajaj Finance lost the most among Nifty 50 stocks, falling nearly 7%, after the company's bottom line for the September quarter failed to meet analysts expectations. Bajaj Finserv fell nearly 5% ahead of its earnings later in the day. Eicher Motors declined for the second straight session and fell over 1%. Mahindra & Mahindra and Bharat Electronics were the biggest gainers, rising over 1?ch. Among information technology stocks, Infosys and HCL technologies rose 0.5%. At 0940 IST, the Nifty 50 index was down 0.3% at 25508.90 points and the BSE Sensex index was down 0.3% at 83323.78 points. 

 

Among the Nifty 200 stocks, Vodafone Idea rose over 2?ter the company reported better-than-expected financial performance for the September quarter, with top line beating Street's estimate and net loss coming in lower than expected. Britannia Industries fell nearly 6% following Varun Berry's resignation as the company's managing director and chief executive officer.

 

Among the sectoral indices, only Nifty IT and Nifty Auto were in the green and rose marginally. Nifty Financial Services and Nifty PSU Bank were the biggest losers falling nearly 1%.  (P. Madhu Kumar)

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Equity Alert: Asian markets mixed, focus on resolution to US govt shutdown

 

MUMBAI--0845 IST--Asian markets showed a mixed trend in early trade Tuesday after shedding some gains at opening. Gainers in the region took cues from the US market, which rose in anticipation of a possible end to the historic 40-day shutdown of the US government, enabling access to the trade and economic data.

 

Japan's benchmark Nikkei 225 index came off highs, up 0.4%, while the Topix index rose marginally. Artificial intelligence-related stocks were among the top movers, with conglomerate SoftBank gaining nearly 4% and chipmaker Renesas Electron up over 4%. Shares of Orix rose 0.5?ter the Japanese financial services conglomerate Tuesday announced a partnership with Qatar's sovereign wealth fund Qatar Investment Authority to launch a $2.5 billion private equity fund, according to a report by CNBC. 

 

South Korea's Kospi was the biggest gainer among Asian markets, rising nearly 2%. Gains in the index were supported by chip stocks. Samsung Electronics led the rally in technology stocks, up nearly 5%. Shares of SK Hynix gained over 4%. 

 

Among other indices, China's CSI 300 index fell nearly 1?ter opening in the green and the SSE Composite index declined 0.4%. Australia's S&P/ASX 200 index fell marginally. Hong Kong's Hang Seng index was down 0.3%.

 

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

 

Index	Level	Change in %
CSI 300 Index	4660.441	(-)0.74
Hang Seng Index	26562.18	(-)0.33
Nikkei 225 Day	51131.28	0.43
TOPIX FIRST SECTION	3323.18	0.17
KOSPI	4126.7	1.31
FTSE Singapore Straits Times	4542.01	1.2
S&P/ASX 200 Index	8819.6	(-)0.18

 

(P. Madhu Kumar)

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Equity Alert: Indices seen in range Tue; progress in US-India trade deal eyed

 

MUMBAI--0811 IST--Benchmark indices are expected to consolidate Tuesday as the market awaits fresh triggers for further upside, analysts said. One of the key triggers could be progress in trade deal negotiations between India and the US. US President Donald Trump early Tuesday hinted at some progress in the trade deal between the two countries, saying, "We're making a deal with India...I think we're pretty close to doing a deal that is good for everybody," The Economic Times quoted him as saying at an event. 

 

Until there are further concrete details on the trade deal, the market is likely to keep consolidating, analysts said. "Overall, Nifty 50 appears poised for range-bound movement as traders adopt a cautious stance ahead of key triggers...while the 25500–25350 zone is likely to act as a strong support base, the 25650–25750 zone remains the immediate resistance cluster," Dhupesh Dhameja, derivatives research analyst at SAMCO Securities, said in a note.

 

The November contract of the GIFT Nifty also indicates a muted start for the market. At 0808 IST, the contract was at 25722 points, up 16 points from its previous close. On Monday, the Nifty 50 had ended at 25574.35 points, up 82.05 points or 0.3%, having risen to 25653.45 points before facing selling pressure. The BSE Sensex closed the session at 83535.35 points, up 319.07 points or 0.4%.

 

Overnight, indices in the US surged as reports suggested that the longest government shutdown in the country's history could end this week due to a compromise that would restore federal funding being cleared by the Senate over the weekend. Technology stocks rebounded from last week's fall as the tech-heavy Nasdaq Composite gained over 2%. Nvidia, Palantir, and Tesla surged 4-9%. Most Asian indices also gained in early trade Tuesday, with South Korea's Kospi up over 2%.  (Akash Mandal)

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Equity Alert: US markets rise on hopes of a likely end to US govt shutdown

 

MUMBAI--0735 IST--US markets ended higher Monday buoyed by technology stocks and positive sentiment driven by steps taken by the US Congress to soon put an end to the government shutdown there. A new bill quickly advanced in a key US Senate procedural vote overnight Sunday, after enough Democrats joined with Republicans to avoid any delay for the resolution to the prolonged government shutdown. 

 

Nvidia, Broadcom and other artificial intelligence related stocks led the gains in the Wall Street, as a possible end to the shutdown put investors in a risk-taking mood again. "We maintain our conviction that AI-related stocks should drive equity markets, and we believe underallocated investors should add exposure to the theme through a diversified approach," CNBC quoted Mark Haefele, chief investment officer at UBS Global Wealth Management, as saying.  

 

The S&P 500 index rose 1.5% and gained for the second straight session. The tech-heavy NASDAQ Composite rose over 2% and the Dow Jones Industrial Average rose nearly 1%. 

 

In other news, the Federal Reserve Governor Stephen Miran said Monday that a 50-basis-point rate cut would be appropriate for December, noting that inflation is falling while the unemployment rate is drifting higher, Reuters reported. 

 

Following are the closing levels of US indices overnight: 

 

INDEX	LAST LEVEL	CHANGE IN %
Dow Jones Industrial Average	47368.63	0.81
Nasdaq Composite	23527.17	2.27
S&P 500	6832.43	1.54

 

(P. Madhu Kumar)

 

End 

 

US$1 = INR 88.70

 

Edited by Vandana Hingorani

 

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