Equity Alert
Most Asian indices end higher, China's CSI 300 ends lower
This story was originally published at 15:13 IST on 12 November 2025
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Equity Alert: Most Asian indices end higher, China's CSI 300 ends lower
MUMBAI--1445 IST--Most Asian markets ended higher after they managed to sustain the gains accumulated in early trade following strong cues from the US market. Wall Street had gained Tuesday on hopes that the record-breaking US government shutdown could be nearing an end.
South Korea's KOSPI was among the top gainers, rising over 1%. Among South Korean stocks, POSCO Holdings was the biggest gainer, rising over 4%, and Alteogen rose nearly 4%. Shares of Celltrion ended over 3% higher.
Among other gainers in the Asian region, Japan's Nikkei 225 Day index rose 0.4% and Hong Kong's Hang Seng Index was up nearly 1%. Singapore's FTSE Singapore Strait Times ended 0.6% higher.
China's CSI 300 Index was among the losers, falling marginally. Among Chinese stocks, LONGi Green Energy Technology Co. was the biggest laggard, plunging over 7%, followed by shares of NARI Technology, which fell nearly 4%. Shares of China Coal Energy dropped 3%. Australia's S&P/ASX index fell marginally after it came off the day's high. The index fell for the second consecutive session.
Following were the levels of key Asian indices at close:
|
Index |
Level |
Change in % |
|
CSI 300 Index |
4645.907 |
(-)0.13 |
|
Hang Seng Index |
26922.73 |
0.85 |
|
Nikkei 225 Day |
51063.31 |
0.43 |
|
TOPIX FIRST SECTION |
3359.33 |
1.14 |
|
KOSPI |
4150.39 |
1.07 |
|
FTSE Singapore Straits Times |
4568.91 |
0.59 |
|
S&P/ASX 200 Index |
8799.5 |
(-)0.22 |
(P. Madhu Kumar)
Equity Alert: Kirloskar Oil Engines rises 16%; Q2 consol PAT jumps 27% YoY
MUMBAI--1320 IST--Shares of Kirloskar Oil Engines rose as much as 16% Wednesday to INR 1,093.60, their highest level in 11 months, after the company reported an over 27% on-year rise in its bottom line and a 30% on-year jump in its top line for the September quarter. At 1312 IST, shares of the company were over 14% higher at INR 1081.90 on the National Stock Exchange, the top gainers in the Nitfty 500 index. The stock has risen after a five-day lossing run, in which it lost over 7%.
The internal combustion engines, generator sets, and agricultural equipment manufacturer Tuesday reported a consolidated net profit of INR 1.62 billion for the September quarter, up over 27% on year and around 15% sequentially. Its consolidated revenue for the quarter rose 30% on year and around 11% sequentially to INR 19.48 billion. Growth in the company's top line for the quarter was primarly driven by a near 34% increase in its business-to-business sales.
"All segments within the standalone business recorded double-digit growth, reflecting our strong market position and operational excellence. The Power Generation Business Unit continued its robust performance, supported by our extensive distribution network, strong brand equity, and ongoing innovation in engine and generator technology," Gauri Kirloskar, managing director of the company, said in a post-earnings press release.
All three research reports on the company available with informist have a 'buy' rating on the company with target prices INR 1,067-INR 1,220. Till 1312 IST, around 8 million shares of the company changed hands on the NSE, compared to the 66,459 shares traded till the same time Tuesday. (Arya S. Biju)
Equity Alert: Billionbrains Garage rises 24?ter listing at 12% premium
MUMBAI--1205 IST--Billionbrains Garage Ventures surged over 24% to an intraday high of INR 124.39 after debuting at INR 112 on the National Stock Exchange Wednesday, listing at a 12% premium to its issue price of INR 100. At 1133 IST, the stock traded nearly 22% higher at INR 122.24 and about 298.85 million shares had changed hands.
The initial public offering of the company ended Friday. It received bids for 6.42 billion shares against 364.78 million shares on offer. The company had raised INR 29.84 billion from anchor investors at INR 100 per share. The initial public offering comprised a fresh issue of shares worth up to INR 10.60 billion and an offer for sale of up to 557.23 million shares.
Billionbrains Garage Ventures is a direct-to-customer digital investment platform that provides multiple financial products and services. With its brand Groww, customers can invest and trade in stocks, derivatives, bonds, mutual funds, and other products. For the June quarter, the company had reported a consolidated net profit of INR 3.78 billion on revenue of INR 9.04 billion. (Adhithya Aji)
Equity Alert: IRCTC up 1% ahead of Jul-Sept earnings
MUMBAI--1204 IST--Shares of Indian Railway Catering and Tourism Corp. were 1% higher at INR 717.90 ahead of the company's September quarter earnings. At 1201 IST, shares of the company were at INR 716.50, up 0.8%. So far in the day, more than 293,800 shares of the company were traded, higher than 142,600 shares traded till the same time Tuesday.
The catering and tourism company is expected to post a net profit of INR 3.44 billion for the September quarter, up nearly 12% on year and up 4% on quarter, according to Prabhudas Lilladher Pvt. Ltd., the only brokerage to provide an estimate on the company. The company's revenue for the September quarter is expected to rise over 9% on year to INR 11.64 billion, up marginally on quarter, according to the brokerage.
The catering revenue of the company in the reporting quarter is expected to rise 10% on year to INR 5.3 billion, according to the brokerage. The rise in catering revenue of the company is likely due to the launch of the new Amrit Bharat trains, brokerage Prabhudas Lilladher said. The company's online ticketing volumes are expected to be around 139 million, which is likely to result in a convenience fee revenue of INR 2.6 billion in the September quarter, according to Prabhudas Lilladher. The company's revenue from its tourism business is expected to rise 15% on year to INR 1.4 billion, the brokerage said.
The company is expected to report a growth of nearly 14% on year in its earnings before interest, tax, depreciation and amortisation, or EBITDA, to INR 4.24 billion for the September quarter, according to Prabhudas Lilladher. The company's EBITDA margin is expected to rise 138 basis points on year to 36.4%, according to the brokerage.
In the previous quarter, IRCTC reported a net profit of INR 3.30 billion on a revenue of INR 11.60 billion. The growth in the company's revenue slowed down due to a 2?ll in its catering revenue to INR 5.47 billion during the June quarter.
Of the four brokerage reports on the company available with Informist, three have a 'buy' rating on the stock and one has a 'hold' rating. The average target price for the 'buy' rating is INR 933. (Akshat Saksena)
Equity Alert: Emkay Global cuts ONGC rtg to 'add', reduces FY26 EPS estimate
MUMBAI--1146 IST--Emkay Global Financial Services has downgraded Oil and Natural Gas Corp.'s rating to 'add' from 'buy' after the company's operating profitability for the September quarter missed the broking firm's estimate by 2%. It also reduced the earnings-per-share estimate by 9-13% for 2025-26 (Apr-Mar), building in lower Brent crude prices though partially offset by a weaker currency, Emkay Global Financial said in its report.
The brokerage retained target price at INR 280, which is 10% higher than the stock's market price of INR 253.50, at 1145 IST. The company missed the operating profit estimate due to to higher foreign exchange loss, but beat the estimate on net profit on lower tax rate due to dividend income, the broking firm said.
For the September quarter, ONGC's adjusted earnings before interest, tax, depreciation, and amortisation was INR 165.99 billion, slighly lower than the brokerage's estimate of INR 169.04 billion. Its EBITDA margin was 50.3%, also lower than the broking firm's estimate of 50.9%. Due to the sharp fall in crude oil prices during the quarter, the company's net profit fell 18% on year to INR 98.48 billion and revenue declined almost 3% to INR 330.31 billion.
The company's management is optimistic about increased output from the March quarter on higher production from its Daman gas development project. The full impact from these assets is expected in FY27. The company has started initiatives to save INR 50 billion in operating expenditure over time. Key risks include adverse change in oil and gas prices, policy issues, local tensions, cost overuns, outages, and dry holes, Emkay Global said.
Of the 14 research reports available with Informist, 10 broking firms have a 'buy' or equivalent rating on the stock with an average target price of INR 303, 2 have a 'hold' view, and the remaining two recommend 'sell'. (Adhithya Aji)
Equity Alert: Tata Motors CV arm lists at INR 335, up 28% vs discovered price
MUMBAI--1106 IST--Shares of Tata Motors, the demerged commercial vehicles subsidiary which was earlier known as TML Commercial Vehicles, listed at INR 335 on the National Stock Exchange Wednesday. At 1105 IST, shares of Tata Motors were up almost 28% at INR 327.30 compared to the discovered price of INR 260.75. Nearly 16 million shares of the company changed hands on the bourse so far Wednesday. The listed passenger vehicles company under the Tata group is called Tata Motors Passenger Vehicles.
The demerger separates the fast-growing passenger vehicle and EV business from the more stable, cash-generating CV business, allowing investors to value each on its own strength, Jahol Prajapati, research analyst at SAMCO Securities said in a note. The demand for commercial vehicles is expected to rise sharply, with improving freight activity, ease in commodity costs, and the GST rate cut. Fleet replacement and new demand from construction and logistics players will add further momentum.
For the month of October, the company's commercial vehicle sales rose 10% on year to 37,530 units, marking its highest monthly sales since March. Domestic commercial vehicle sales in October grew over 7% on year to 35,108 units and exports were up over 56% at 2,422 units. (Anjana Therese Antony)
Equity Alert: Cochin Shipyard up over 2% ahead of Jul-Sept earnings
NEW DELHI--1031 IST--Shares of Cochin Shipyard traded slightly higher ahead of the company's earnings for the September quarter due later in the day. At 1026 IST, shares of the company traded 2.3% higher at INR 1,795.8 on the National Stock Exchange.
The shipbuilding and maintenance company's top line is expected to grow nearly 10% on year and 23% on quarter to INR 12 billion for the September quarter, according to Kotak Institutional Equities. "We expect 10% yoy revenue growth, driven by the execution of ASW (anti-submarine warfare) Corvette and NGMV (next-generation missile vessel) projects and the ship repair segment," it said.
The company's net profit is seen at INR 1.92 billion, down 0.5% on year but up 2.3% from the trailing quarter, according to the brokerage's estimate. The company had reported a net profit of INR 1.93 billion and revenue of INR 10.97 billion in the year-ago quarter.
Its earnings before interest, tax, depreciation and amortisation, or EBITDA, is seen around INR 2.2 billion in Jul-Sept, down 24% on quarter. Kotak expects its EBITDA margin at 18.3% in the reporting quarter, up 40 basis points on year, but down 560 bps on quarter due to lower contribution from ship repair.
Of the four brokerage reports available with Informist on the company, three have a 'buy' rating with an average target price of INR 1,624, and one has a 'sell' rating. The stock has risen nearly 8% since its June quarter earnings were announced on Aug. 12, when shares had closed at INR 1,667.2. (Afra Abubacker)
Equity Alert: Domestic indices open higher on strong cues in global mkts
MUMBAI--1025 IST--Benchmark indices opened higher Wednesday, supported by stocks from the financial services sector. Rise in the Indian market came as they tracked gains in the US market and on hope of a potential trade deal between the US and India after US President Donald Trump's comments on a likely trade deal with New Delhi soon.
Oil and Natural Gas Corp was the biggest gainer in the Nifty 50 index rising over 2% after the company posted better-than-expected September quarter earnings. Tata Consutancy Services rose over 1% and it was among the top gainers in the index. The company announced that it has entered into a partnership with Norwegian research and development company SINTEF to deploy social artificial intelligence to improve elderly care in Norway. Bajaj Finserv and Bajaj Finance rose nearly 1?ter incurring steep losses in the previous session.
Shriram Finance was the biggest loser in the Nifty 50 index falling nearly 1% and the stock snapped a three-day winning streak. JSW Steel and Bajaj Auto fell 0.5?ch. At 0945 IST, the Nifty 50 index rose 0.6% at 25844.55 points and the BSE Sensex index gained 0.6% at 84368.39 points.
All sectoral indices were higher except the Nifty FMCG which was down 0.3%. The top gainers were Nifty IT and Nifty Auto, which rose over 1%. All broader market indices were in the green. (P. Madhu Kumar)
Equity Alert: Most Asian indices rise tracking gains in US market
MUMBAI--0828 IST--Most Asian indices were higher in early trade tracking gains in the US market as the US Congress looked set to end the federal government shutdown and traders looked for direction in the absence of clues from government data services.
South Korea's Kospi was the biggest gainer among Asian indices, rising over 1%. South Korea's central bank could delay a rate cut until 1Q 2026 (Jan-Mar), with household debt and elevated housing prices as key concerns, Moody's Analytics economist Dave Chia writes in a note, Dow Jones News wires reported.
South Korea's seasonally adjusted unemployment rate edged up to 2.6% in October from 2.5% in September, matching August's level, according to the data released by the Ministry of Data and Statistics.
Among other indices, Japan's Nikkei 225 index rose marginally and the Topix First Section gained over 1% and was among the top gainers in the Asian region. Australia's SP/ASX 200 index rose slightly in early trade.
Chinese indices fell into the negative territory and were the only indices in the Asia-Pacific region that traded in the red. China's CSI 300 index and the SSE Composite index were marginally lower.
Following were the levels of key Asian indices at 0840 IST:
|
Index |
Level |
Change in % |
|
CSI 300 Index |
4660.441 |
(-)0.24 |
|
Hang Seng Index |
26562.18 |
0.67 |
|
Nikkei 225 Day |
51131.28 |
0.43 |
|
TOPIX FIRST SECTION |
3323.18 |
1.17 |
|
KOSPI |
4126.7 |
0.70 |
|
FTSE Singapore Straits Times |
4542.01 |
0.42 |
|
S&P/ASX 200 Index |
8819.6 |
0.20 |
(P. Madhu Kumar)
Equity Alert: Indices seen opening tad higher; Bihar exit polls in focus
MUMBAI--0810 IST--Benchmark equity indices are expected to open slightly higher as investors track exit polls from Bihar Tuesday, which indicated a win for the National Democratic Alliance in the state's assembly election. The votes will be counted Friday.
"The domestic market will most likely trade volatile in (the) near term," Vipin Kumar, assistant vice-president of derivatives and technical at Globe Capital Market, said. "Today, it (market) will react to Bihar exit polls and Friday, vote counting will keep traders on their toes," he added. "Gift Nifty is indicating a positive opening for the Nifty 50 (today) and going ahead, we expect the benchmark index to trade with a positive bias and test 26100 (points) and higher levels in the near term," Kumar said. He expects the 50-stock index to find support at 25450-25300 points and immediate resistance at 25900-25950 points for Tuesday's session.
The November contract of the GIFT Nifty indicates a muted open. At 0752 IST, the contract was at 25976.50 points, down 22 points from its previous close. On Tuesday, the Nifty 50 had ended at 25694.95 points, up 120.60 points or 0.5%. The BSE Sensex had closed Tuesday at 83871.32 points, up 335.97 points or 0.4%.
Overnight, indices in the US ended higher as the government shutdown is expected to end this week. The federal government has been shut since Oct. 1. Tuesday, the US Senate officially passed a spending bill on 60:40 vote that will now head to the House of Representatives for a final vote Wednesday, The Wall Street Journal reported. Except China, indices in Asia also opened higher Wednesday.
Back home, Asian Paints and Tata Steel are the Nifty 50 companies that will announce their September quarter earnings later in the day. The paints major's consolidated net profit is seen rising 3% on year and its revenue is seen up 1%. Meanwhile, Tata Steel's consolidated net profit for the quarter is seen leaping 3.4 times on a strong rise in steel delivery volumes from its India operations, a moderate increase in volumes from its factories in Europe, and narrowing losses in its Netherlands operations. (Gopika Balasubramanium)
Equity Alert: US indices end higher Tue on hopes of end to US govt shutdown
MUMBAI--0738 IST--Most indices in the US ended higher Tuesday as investors looked forward to an end to the prolonged government shutdown. The Dow Jones Industrial Average rallied to a fresh closing record Tuesday, while the NASDAQ Composite ended in the red as investors booked profits from technology stocks.
The US Senate passed a deal on Monday to restore federal funding after a record-long shutdown that has disrupted food benefits for millions, left hundreds of thousands of federal workers unpaid, led to air traffic snarls, and delayed the release of government economic data, Reuters reported.
A new report from ADP revealed that for the four weeks ended Oct. 25, private sector job creation was down more than 11,000 on average per week. The data was in contrast to the gains the firm reported last week and signalled some weakness in the labor market, according to a report by CNBC.
The S&P 500 index ended 0.2% higher and the Dow Jones Industrial Average rose over 1%. The NASDAQ Composite was among the few major indices in the US that closed in red, down 0.3%.
Following are the closing levels of US indices overnight:
|
INDEX |
LAST LEVEL |
CHANGE IN % |
|
Dow Jones Industrial Average |
47368.63 | 1.18 |
|
Nasdaq Composite |
23527.17 | (-)0.25 |
|
S&P 500 |
6832.43 | 0.21 |
(P. Madhu Kumar)
End
US$1 = INR 88.63
Edited by Rajeev Pai
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