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Informist, Wednesday, Dec. 3, 2025                                      Tel +91 (22) 6985-4000

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Equity Alert: Shrs of Angel One fall 6% on weak Nov client acquisition data

 

MUMBAI--1145 IST--Shares of Angel One fell a little over 6% to an intraday low of INR 2,644.10, after closing higher for the previous two straight sessions. The company Wednesday said its gross client acquisitions in November fell nearly 17% on year to 500,000, marking the 14th straight month of decline.

 

Its average daily orders for the month fell a little over 15% on year to 6.17 million and the number of orders declined more than 10% on year to 117.30 million. The company's client base, however, has increased almost 22% from the year-ago period to 35.08 million.

 

At 1137 IST, shares of the company were slightly off lows and were trading nearly 5% lower at INR 2,685.10. The stock gained 4% during the previous two sessions. Over 1 million shares of the company have changed hands so far on the NSE, nearly double the number of shares traded till the same time Tuesday.

 

All the five brokerage recommendations available with Informist on the stock have a 'buy' call, with an average target price of INR 2,908.  (Arundathi A R)

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Equity Alert: Most IT cos up as rupee hits record low; Wipro, TCS up 2%

 

MUMBAI--1130 IST--Shares of most domestic information technology companies rose Wednesday as the Indian rupee continued depreciating against the dollar, and fell past the psychologically-crucial 90-per-dollar level, two analysts covering the sector said. The Nifty IT index rose nearly 1% to 37873.20, its highest level in nearly five months, led by gains in large-cap players Wipro, Tata Consultancy Services, and Infosys, which rose 1.1–2.5%. 
 

Positive global cues, including rising bets of an interest rate cut by the US Federal Reserve in December, also boosted investor sentiment towards the sector, an analyst covering the sector at a domestic brokerage said. However, some analysts say the possibility of an interest rate cut by the Fed at its meeting next week was mostly priced in.

 

Depreciation of the rupee against the dollar is seen as a positive for the domestic IT sector, as these companies earn a major chunk of their revenue from the US and depreciation of the Indian unit will help boost their earnings and profitability. Similarly, a reduction in interest rates by the Fed would improve the discretionary spending of US-based clients towards IT. 

 

At 1120 IST, the Nifty IT was up 0.8% at 37848.25. While six constituents of the 10-stock index rose, the rest traded in the red. The sectoral index had been on a winning run in the preceding two months after falling for three straight months. However, so far this year, the sectoral index has lost as much as around 13% against the 9-10% rise in the benchmark indices. The rupee has depreciated around 5% since the beginning of 2025. (Arya S. Biju)

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Equity Alert: JP Morgan sees subdued demand weighing on air conditioner cos

 

MUMBAI--1110 IST--Margins of air conditioning companies are likely to remain under pressure due to competitive landscape and lower-than-expected demand, NDTV Profit said in a post on social media platform X, citing a JP Morgan report. Adverse weather conditions dampened demand for air conditioners and festive-season sales were also subdued.

 

Working capital requirements at the dealers' end remain high because of elevated inventory levels, the brokerage said. The single-digit price hike due to new energy rating norms is expected to be offset by the new goods and services tax rate benefits. Pre-season purchases toward the end of the December quarter and through the March quarter will be key areas to watch, according to the brokerage.

 

At 1047 IST, air conditioner and air cooler manufacturers such as Voltas, Blue Star, Whirlpool of India, V - Guard Industries, and Crompton Greaves Consumer Electricals were all trading in the red, down 1-2% in the Nifty index. Shares of Voltas fell over 4% for the fourth consecutive session and Crompton Greaves declined for the fifth consecutive session.  (Adhithya Aji)

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Equity Alert: Dr Reddy's rises to 1-mo high as HC OKs semaglutide export

MUMBAI--1100 IST--Shares of Dr. Reddy's Laboratories rose more than 1% to a one-month high of INR 1,293 on the National Stock Exchange Wednesday. Shares of the company rose for six straight sessions till Tuesday, during which it advanced nearly 4%. The Delhi High Court Tuesday rejected Danish pharmaceutical giant Novo Nordisk's plea for an interim injunction and ruled that Dr. Reddy's and OneSource Speciality Pharma could manufacture their own versions of diabetes and obesity drug 'semaglutide' and export the drug to countries where Novo Nordisk has not been granted a patent.  

 

"This decision is a positive development for both Dr. Reddy's and One Source because it allows for continuous manufacturing operations and the accumulation of inventory (of Semaglutide). This inventory can be deployed in various international markets and will aid India's launch post patent expiry," JM Financial said in a report.

 

At 1052 IST, shares of the company were slightly off highs, but were still marginally higher in a session in which only a handful of Nifty 50 companies managed to trade with gains. The stock is headed for a second consecutive week of gains. Nearly 3 million shares of the company have changed hands so far on the NSE, almost fivefold higher than the 631,082 shares traded till the same time Tuesday.

 

The stock has closed higher since Nov. 25, a day prior to which Dr. Reddy's Laboratories and its subsidiaries received approval from the European Commission for biosimilar AVT03, which is a human monoclonal antibody used to treat osteoporosis and other bone diseases.

 

Of the 23 brokerage recommendations on the stock available with Informist, 12 have a 'buy' call with an average target price of INR 1,456, while seven have a 'hold' call with an average target price of INR 1,267. Four brokerages have a 'sell' recommendation on the stock with an average target price of INR 1,206.  (Eshitva Prakash)

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Equity Alert: Indices in red after positive open as rupee hits fresh low

 

MUMBAI--0950 IST--Domestic equity indices fell soon after opening slighty higher Wednesday as the Indian rupee fell past the psychologically-crucial 90-per-dollar level. Losses in shares of consumer and financial services companies dragged the indices down as the three-day monetary policy meeting of the Reserve Bank of India gets underway on Wednesday.

 

At 0947 IST, the Nifty 50 was at 25942.60 points, down 89.60 points or 0.3%. The BSE Sensex was at 84898.03 points, down 240.24 points or 0.3%. All indices in the broader market remained under selling pressure, down around 0.3-0.4%. Barring the Nifty IT, all other sectoral indices were in the red, with Nifty PSU Bank, Nifty FMCG, Nifty India Defence, Nifty Consumer Durables, and Nifty Auto being the worst hit, down around 1?ch. Informations technology stocks gained, tracking their peers on Wall Street. 

 

The rupee continued its descent against the dollar, hitting a fresh record low of 90.14000 a dollar Wednesday as banks continuously bought dollars on behalf of importers, according to dealers in the foreign exchange market. Delay in a trade deal between India and the US is the primary reason for the sharp weakness in the Indian unit, according to them. 

 

Shares of Angel One fell over 5%, the worst-performing stock in the Nifty 500 index, as the company's gross client acquisition in November fell sharply on a year-on-year basis, even though its client base continued to grow. It also saw an on-year decline in its average daily orders and the number of orders during the previous month at 6.17 million and 117.30 million, respectively. (Arya S. Biju)

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Equity Alert: Seen slightly higher at open, RBI MPC's 3-day meeting in focus

 

MUMBAI--0834 IST--Headline indices are likely to open slightly higher on Wednesday. The three-day meeting of the Reserve Bank of India's Monetary Policy Committee that gets underway later in the day will be in focus. Analysts are divided on whether the central bank will cut interest rates at this policy meeting.  

 

The Nifty 50 is expected to open flat or marginally higher, Mandar Bhojane, technical analyst at a domestic broking firm, said. The index is likely to move within the 26000-26400 points range with resistance likely at 26200 points and strong support at 25850 points, he added. 

 

The December contract of the GIFT Nifty indicated a positive opening for the indices. At 0806 IST, the contract was at 26190 points, down 1 point. This was over 150 points higher than the Nifty 50's close Tuesday.

 

On Tuesday, foreign investors were net sellers of Indian stocks, selling shares worth around INR 36 billion. Domestic investors continued to be net buyers and purchased shares of Indian companies worth INR 46.46 billion.

 

On Tuesday, the Nifty 50 ended at 26032.20 points, down 143.55 points or 0.6%. The 50-stock index fell below 26000 points intraday for the first time in four sessions. The BSE Sensex also closed 0.6% lower at 85138.27 points. "As long as Nifty (50) sustains above the 26,000 demand band, sentiment is likely to stay sideways, with dips expected to attract fresh buying," said Dhupesh Dhameja, derivatives research analyst at SAMCO Securities.

 

On Tuesday, indices in the US closed higher as technology stocks rose due to increased expectations of an interest rate cut by the US Federal Reserve. Expectations of a quarter-point rate cut at the Fed's meeting are at over 89%, according to CME's FedWatch Tool, higher than bets of 63% a month ago. In Asia, barring Japan's Topix and Hong Kong's Hang Seng, all the other indices traded with gains. South Korea's Kospi was up over 1% and led the gains in the region. (Gopika Balasubramanium)

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Equity Alert: Indices in Asia open higher; KOSPI leads for second day 

 

MUMBAI--0808 IST--Most equity indices in Asia were higher in early trade Wednesday, tracking overnight gains on Wall Street. South Korea's KOSPI led the pack of gainers in the region for the second straight session. Hong Kong's Hang Seng index and Japan's broader TOPIX fell in early trade.

 

"The narrowing in spreads and movement in the yen may have resurfaced some of the carry trade fears and unwinding of leveraged positions," Reuters quoted Kerry Craig, global market strategist at JP Morgan Asset Management, as saying. Japanese government bonds continued to face pressure as investors ramped up bets of a rate hike by Bank of Japan later this month.

 

South Korea's KOSPI rose over 1% and the country's revised third quarter GDP data indicated that the economy grew 1.8% on year, compared to an estimate of a 1.7% rise, CNBC reported, citing data from the central bank.

 

Australia's S&P/ASX 200 was marginally higher in early trade. The country's third-quarter economic growth missed analysts' expectations, but still clocked its fastest expansion in about two years, CNBC reported. The country's GDP expanded 2.1% year on year, but missed economists' forecast of 2.2% growth.

 

Following were the levels of key Asian indices at 0745 IST:

 

Index	Level	Change in %
CSI 300 Index	4558.42	0.09
Hang Seng Index	25883.23	(-)0.81
Nikkei 225 Day	49664.21	0.73
TOPIX FIRST SECTION	3329.22	(-)0.35
KOSPI	4047.73	1.32
FTSE Singapore Strait Times	4553.8	0.35
S&P/ASX 200 Index	8593.7	0.16

 

(Arundathi A R)

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Equity Alert: US indices rise on rate cut hopes, gains in technology cos 

 

MUMBAI--0735 IST--Benchmark equity indices in the US ended higher Tuesday amid hope that the US Federal Reserve will cut interest rates at its meeting later this month as economic data from the US continues to appear weak. Gains in technology stocks aided the rise of the indices. The technology-heavy NASDAQ Composite index gained the most among its benchmark peers on Tuesday.

 

"Recent data pointed to a gradually cooling economy, and policymakers had urged caution on rate cuts, warning that inflation pressures could be rekindled. But comments from several Fed officials in recent days sent market expectations soaring for a rate cut at the central bank's December meeting," Reuters reported.

 

Large-cap technology companies such as Apple, Nvidia, and Microsoft drove the gains in the indices. Shares of Apple closed over 1% higher and those of Nvidia and Microsoft rose nearly 1%. Shares of Intel Corp. jumped nearly 9%. Mass media and entertainment conglomerate Warner Bros Discovery ended nearly 3% higher after reports that the company received a second round of bids, including an offer from Netflix, Reuters reported.

 

Boeing closed over 10% higher after the plane maker said it expected higher deliveries for its 737 and 787 jets next year. Boeing also lifted the S&P 500 industrials index 0.9%, the top performer among 11 major sectors in the S&P index.

 

Market participants are focussing on the appointment of the next US Fed Chair when incumbent Jerome Powell's term ends next year. Traders await a delayed September report on the Personal Consumption Expenditures Price Index, which is the Fed's preferred inflation gauge, on Friday. Traders are now pricing in an over 89% probability that the apex bank will cut key rates by a quarter percentage point at its policy meeting in December, according to the CME FedWatch tool.

 

Following are the closing levels of US indices Monday:

 

Index	Level	Change in %
S&P 500	6829.37	0.25
NASDAQ Composite	23413.67	0.59
Dow Jones Industrial Average	47474.46	0.39

 

(Arundathi A R)

 

US$1 = INR 90.26

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

 

Edited by Subhojit Sarkar

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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