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Informist, Tuesday, Nov. 25, 2025                                      Tel +91 (22) 6985-4000

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Equity Alert: JP Morgan ups RIL's target price by 2% on attractive valuations

 

MUMBAI--0822 IST--JP Morgan increased the target price of Reliance Industries by 2% to INR 1,727 while maintaining its "overweight" rating on the stock, NDTV Profit said in a post on social media platform X, citing the brokerage. This was mainly on the back of "attractive valuations" when compared to its peers and better earnings prospects for the company. RIL's stock closed 0.7% lower at INR 1,535.90 on Monday. JP Morgan's target price indicates an upside of 12% from the previous close. 

 

JP Morgan's margin forecasts for RIL show a quarterly jump of around $3.8 per barrel, according to the NDTV Profit report. Even when $1-per-barrel hit from the loss of discounted Russian crude is adjusted for, current gross refining margins could lift projections for 2026-27 (Apr-Mar) by about 6%, JP Morgan was quoted as saying. Media reports Friday said RIL stopped importing crude oil from Russia for its export-oriented refinery in Jamnagar, Gujarat. 

 

The broking firm said the drag on the company's earnings due to weak refining and petrochemical operations is behind it. For 2026, the firm identified a few factors that would be crucial for RIL – initial public offering of its telecomm arm Jio Infocomm Ltd., tariff hikes, robust revenue from new energy venture, and stability in its retail operations. 

 

Of the 15 brokerage reports on the company available with Informist, all have a "buy" or equivalent rating on the stock with an average target price of INR 1,684. This average price shows an upside of around 10% from the current spot price. (Gopika Balasubramanium)

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Equity Alert: Citi says better occupancy, case mix to push Max Health growth 

 

MUMBAI--0846 IST--Foreign brokerage Citi said Max Healthcare Institute's issues with respect to cashless insurance services are fully resolved and the company's growth will be supported by higher occupancy and better case mix, CNBC-TV18 reported. The broking firm maintained its 'buy' rating on the stock with a target price of INR 1,460, which is 26% higher than the stock's closing price of INR 1,155.80 on Monday. 

 

The company had faced issues with cashless insurance services due to disputes with multiple insurers, including Star Health, Niva Bupa, Care Health, and Tata AIG General Insurance, amid disagreements on tariff rates. Due to the dispute, the healthcare company's revenue from the insurance segment had fallen to almost 34% of the total revenue in the September quarter from 37.2% a year ago. The company had reported 74% on-year growth in its consolidated net profit for the September quarter at INR 4.91 billion and a 25% rise in revenue at INR 21.35 billion. 

 

Citi also said that the government's health scheme revision would boost the average revenue per occupied bed, or ARPOB, of the company as well as margins in 2026-27 (Apr-Mar). Its operating margin in the reporting quarter had risen 30 basis points on year to 26.9%. ARPOB had improved to INR 77,300 for the quarter from INR 76,200 a year ago. The company's bed occupancy rate for the quarter was 77%. 

 

Of the 10 research reports available on the company with Informist, eight have a 'buy' or equivalent rating on the stock with an average target price of INR 1,328, which is almost 15% higher than the current market price. The remaining two brokerages have a 'sell' or equivalent rating on the stock.  (Anjana Therese Antony)

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Equity Alert: Most indices in Asia up on rise in IT shrs, US rate cut hopes

 

MUMBAI--0822 IST--Most equity indices in Asia were higher in early trade Tuesday, tracking overnight gains on the Wall Street. Shares of information technology companies, particularly those in the business of artificial intelligence, traded higher across the region. This rise was fuelled by the renewed optimism around AI after overnight gains in Alphabet's stock as the company's new Gemini models offset concerns over lofty valuations of IT stocks in the US. A rise in expectations of an interest rate cut by the US Federal Reserve at its policy meeting in December also boosted traders' sentiment.

 

The MSCI Asia index, excluding Japan, was up more than 1%. Japan's Nikkei 225 rose 0.6% and the broader Topix was also slightly higher. Shares of semiconductor testing equipment supplier Advantest were over 5% higher and those of chip equipment maker Lasertec rose nearly 4%. Shares of Tokyo Electron traded 3% higher.

 

South Korea's KOSPI index rose 0.7%, paring some gains from early trade when it had risen almost 3%. Shares of index heavyweight chip maker SK Hynix rose almost 2% and those of Samsung Electronics were up a little over 2%.

 

Hong Kong's Hang Seng Index rose over 1% in early trade, and the Hang Seng Tech index was nearly 2% higher. On the mainland, the bluechip CSI 300 gained almost 1%.

 

Traders are pricing in an 81% chance of a 25-basis-point interest rate cut by the US Federal Reserve at its upcoming policy meeting. This figure is far higher than the 42% chance of a rate cut that traders saw a week ago. This shift in probabilities was largely driven by the New York Federal Reserve's President John Williams' comments on Friday when he said there was a likelihood of a "further adjustment" in interest rates in the near term.

 

Following were the levels of key Asian indices at 0812 IST:

 

Index	Level	Change in %
CSI 300 Index	4499.02	1.15
Hang Seng Index	26014.61	1.16
Nikkei 225 Day	48960.88	0.69
TOPIX FIRST SECTION	3298.04	0.01
KOSPI	3879.86	0.88
FTSE Singapore Strait Times	4488.79	(-)0.17
S&P/ASX 200 Index	8520.30	(-)0.06

 

(Eshitva Prakash)

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Equity Alert: Mkt to open tad higher, volatility likely on monthly F&O expiry

 

 

MUMBAI--0815 IST--India's headline equity indices are likely to open a tad higher Tuesday, supported by positive global cues and overnight gains in the US market. However, the indices are likely to consolidate in the near term and some analysts are cautiously optimistic about the market. Technical analysts expect the indices to be volatile during the session, especially due to the expiry of the monthly derivatives contracts of the Nifty 50 on Tuesday. According to analysts, the quantum of call writing was higher than the put bets and, hence, there would be near-term negativity in the market. 

 

The Nifty 50 is expected to open flat or on a positive note Tuesday but is likely to consolidate within 25800-26200 points, Mandar Bhojane, research analyst at Chola Securities, said. He said the overall bias was bullish. 

 

The November contract of the GIFT Nifty indicated indices are likely to open slightly higher Tuesday. At 0751 IST, the contract was at 25989 points, up 2.5 points from its previous close. It was 30 points higher than the Nifty 50's close on Monday. On Monday, the Nifty 50 closed at 25959.50 points, down 108.65 points or 0.4%. The benchmark index closed below 26000 points after sustaining the level in past three straight sessions. The BSE Sensex closed at 84900.71 points, down 331.21 points or 0.4%. 

 

On Monday, foreign investors were net sellers in Indian equities, offloading shares worth INR 41.71 billion. In contrast, domestic investors remained net buyers, purchasing stocks valued at INR 45.13 billion.

 

Late Monday, US benchmark indices closed higher, extending the gains from Friday, when they gained on the back of renewed optimism about an interest rate cut by the US Federal Reserve in its upcoming December meeting. Dovish comments by Fed policymakers likely made investors overlook the concerns on premium valuations artificial intelligence companies, which they sold aggressively till Thursday. Shares of Alphabet, Broadcom, Micron Technology rose in the session. Tracking gains in the US, majority of the Asian indices rose in early trade, except for those in Singapore and Australia. Chip stocks in Japan and South Korea also moved higher at the open.  (Gopika Balasubramanium)

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Equity Alert: US mkt ends higher Mon amid rate cut optimism; AI stocks surge

 

MUMBAI--0754 IST--Equity indices in the US closed higher Monday, extending Friday's rally on increased hope that the US Federal Reserve will lower its benchmark interest rate in December. Traders looked past lofty valuations of artificial intelligence-related stocks and were bullish on them after Google parent Alphabet's new Gemini model reignited the AI trade.

 

Shares of Alphabet ended more than 6% higher. Last week, Google had announced its upgraded AI model, Gemini 3, nearly eight months after it launched Gemini 2.5. "It's great for Alphabet and investors in Alphabet, but it always concerns me when we have one stock that is leading the market higher," Melissa Brown, SimCorp's managing director of investment decision research, was quoted as CNBC by saying. "We're not looking necessarily at a broad-based improvement, that just doesn't seem to me to be a sustainable force behind driving the market higher over the next however many days."

 

US Fed Governor Christopher Waller, New York Fed President John Williams, and San Francisco Fed President Mary Daly were dovish on the Fed's monetary policy going forward, which boosted stocks further. Fed funds futures are pricing in an 81% likelihood of a 25-basis-point rate cut in December, up from 42% a week ago, according to CME's FedWatch Tool.

 

Driven by the optimism, shares of other companies that are in the business of AI, surged. Broadcom gained a little over 11% and Micron Technology ended 8% higher. Shares of Palantir Technologies and AMD rose around 5?ch. Some of the 'magnificent seven' stocks such as Meta, Nvidia, and Amazon rose 2–3%.

 

Shares of Bristol-Myers rose more than 3?ter its European rival Bayer unveiled positive data for its cardiovascular drug, boosting confidence in Bristol-Myers' experimental drug milvexian, Reuters reported. Shares of Centene and Oscar Health were significantly higher, following a report that US President Trump was considering extending the Affordable Care Act's subsidies for two years.

 

Following are the closing levels of US indices Monday:

 

Index	Level	Change in %
S&P 500	6705.12	1.55
NASDAQ Composite	22872.01	2.69
Dow Jones Industrial Average	46448.27	0.44

 

(Eshitva Prakash)

 

End

 

US$1 = INR 89.23

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

 

Edited by Tanima Banerjee

 

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