Equity Alert
Biocon rises after S&P places co's arm on positive credit watch
This story was originally published at 16:28 IST on 11 December 2025
Register to read our real-time news.Informist, Thursday, Dec. 11, 2025 Tel +91 (22) 6985-4000
Equity Alert: Biocon rises after S&P places co's arm on positive credit watch
MUMBAI--1605 IST--Shares of Biocon rose Thursday after closing in the red for the previous three consecutive sessions. Shares of the company shed over 3% during this period. S&P Global has placed the company's subsidiary, Biocon biologics, on positive creditwatch on account of its accelerated debt reduction.
"Biocon's debt will decline materially by March 2026. This is because we treat the $1 billion CCPS (compulsory convertible preference shares) as debt-like in our financial ratios," the company said in an exchange filing Thursday. Biocon will acquire a 25% stake, held by minority investors in Biocon Biologics, by swapping equity shares of Biocon with Biocon Biologics' shares, S&P Global said in its filing. The transaction includes the $1 billion CCPS (compulsory convertible preference shares) issued to Viatris that will be swapped for $415 million worth of equity shares of Biocon and $400 million in cash, according to the S&P filing.
On Thursday, shares of Biocon ended nearly 1% higher at INR 381.75 on the National Stock Exchange. It hit an intraday high of INR 382.70 and was almost 10% down from its all-time high of INR 424.95, notched in November. Over 1 million shares of the company changed hands on the NSE, lower than over 2 million shares traded Wednesday.
Of the 12 brokerage recommendations available with Informist on the stock, nine have a 'buy' rating with an average target price of INR 422, while remaining three have a 'sell' rating on the stock. (Arundathi A R)
Equity Alert: Citi assigns 'buy' rating to Astral, 'sell' to Supreme Ind
MUMBAI--1600 IST--Global brokerage firm Citi has initiated coverage on India's plastic pipe companies, with a 'buy' rating on Astral and a target price of INR 1,800 and 'sell' rating on Supreme Industries with an average target price of INR 2,950, according to a NDTV Profit's post on 'X'. The brokerage believes the industry's growth is now normalising after it was seen deteriorating over the past 18 months with Astral and Supreme Industries falling 25% and 34% over the past year. Despite the recovery, the industry's growth is unlikely to return to the levels it saw over 2021-2022 (Apr-Mar) to FY24.
The brokerage prefers Astral to Supreme Industries due to the former's backward integration into the chlorinated polyvinyl chloride or CPVC business. Astral's revenue growth from expanding into new geographies and better growth prospects from its other non-pipe businesses are other reasons why the brokerage prefers it to Supreme Industries.
Thursday, shares of Astral ended 1% higher at INR 1,406.70 on the National Stock Exchange. 510,796 shares of the company were traded on the bourse, higher than the 402,324 shares traded on Wednesday. Supreme Industries ended nearly 2% lower at INR 3,234.20. A total of 397,486 shares of the company were traded on the bourse, over 394% higher than Wednesday.
Out of the 17 brokerage recommendations on Astral with Informist, 11 have a 'buy' or equivalent rating with a target price of INR 1,692, with four having a 'hold' or equivalent rating and two 'sell' rating. Out of the 16 brokerage recommendations on Supreme Industries available with Informist, 10 have a 'buy' or equivalent rating with a target price of INR 4,503, five a 'hold' or equivalent rating, and one with 'sell' or equivalent rating. (Akshat Saksena)
Equity Alert: Adani Enterprises recovers from fall, closes 3% higher
MUMBAI--1557 IST--Shares of Adani Enterprises closed almost 3% higher at INR 2,277.70 on the National Stock Exchange Thursday. The stock had fallen into the red earlier in the session, down as much as 1%. However, the stock ended the session as the top gainer in the Nifty 50 index.
The company's INR 250-billion rights issue closed Wednesday with an overall subscription of 108%. As of 1700 IST on the final day, the offer had received bids for 149.5 million shares, against the 138.5 million shares on offer. The company's promoters, who hold around 74% in the company, subscribed fully to their entitlement, while the public portion was oversubscribed 30%, receiving bids for 47 million shares, against 36 million shares on offer. The rights shares were priced at INR 1,800 per share, a discount to the prevailing market price.
Shares of other Adani group companies Adani Green Energy and Adani Ports and Special Economic Zone rose 3% and 0.4% respectively, while those of Adani Toal Gas and Adani Power closed the session slightly in the red.
Ventura Securities has a 'buy' recommendation on the stock with an average target price of INR 3,801, an upside of 66% to the stock's current value. (Eshitva Prakash)
Equity Alert: Indices in Europe mixed Thu amid fall in technology stocks
MUMBAI--1530 IST--Indices in Europe were mixed Thursday as weak earnings forecast from US-based technology company Oracle led to a decline in technology stocks, which overshadowed the US Federal Reserve's less hawkish comments. The pan-European EURO STOXX 50 index, which closed in the red for the previous two straight sessions, rose 0.2%.
Germany's DAX Performance was dragged down by a nearly 3% fall in the shares of German software company SAP. The fall in the technology giant's stock was mainly due to Oracle's earnings and guidance. US-based Oracle Wednesday forecast sales and profit that missed analysts' estimates and raised its spending estimates.
Among other stocks, UK-based renewable energy company Drax Group gained over 1% after it forecast an annual profit at the top end of market estimates. Industrial and electrical products distributor, RS Group, rose over 4% and was the top gainer in the pan-European STOXX 600 index after a rating upgrade by JP Morgan. Shares of Delivery Hero fell over 5% after Citigroup downgraded the stock to 'sell' from 'neutral' after a near 14% surge Wednesday.
Following were the levels of major European indices at 1455 IST:
Index | Level | Change (%) |
FTSE 100 Index | 9664.67 | 0.09 |
CAC 40 | 8069.70 | 0.59 |
MIB INDEX | 43529.55 | 0.15 |
DAX PERFORMANCE-INDEX | 24113.53 | (-)0.07 |
SLI | 2091.63 | (-)0.01 |
(Arundathi A R)
Equity Alert: See better financials for CDMOs on US Biosecure Act - Macquarie
MUMBAI--1520 IST--Global brokerage Macquarie Thursday said that the US Biosecure Act would be enacted by the end of 2025 after the US House of Representatives passed the National Defense Authorisation Act, which incorporates the US Biosecure Act, CNBC TV-18 reported. The brokerage expects the legislation to accelerate growth for Indian contract development and manufacturing organisations and estimated high-teens compounded annual growth over the next five years compared with low-teens growth in the previous five.
Indian pharmaceutical companies are well positioned to benefit from additional small-molecule CDMO opportunities, the brokerage said. However, it added that revenue and earnings growth from projects arising due to the act would only start contributing after a 12-24 month lag. Innovator companies may move their projects to locations such as India, Europe, and South Korea, the brokerage said. Divi's Laboratories and Syngene were Macquarie's top picks in the CDMO sector.
On Thursday, the Nifty Pharma index and the Nifty Healthcare index were up almost 1%. Shares of pharmaceutical companies such as Cipla, Dr. Reddy's Laboratories, Sun Pharmaceutical traded 1-2% higher. In the 200-stock index, shares of Divi's Laboratories, Lupin and Mankind Pharma were up 1-2%. Natco Pharma, Jubiliant Pharma, and Blue Jet Healthcare were among the biggest gainers in the Nifty 500 index. (Eshitva Prakash)
Equity Alert: Samvardhana Motherson hits 52-week high, up 13% in one month
MUMBAI--1510 IST--Shares of Samvardhana Motherson International rose more than 3% to hit a 52-week high of INR 120.16 on the National Stock Exchange. Shares of the automobile ancilliary company have risen over 13% in a month. The company's recent stock outperformance is led by a stable booked business and limited tariff impact, Business Standard reported, citing a report by brokerage YES Securities.
The brokerage said the company's outlook remains robust, supported by new program ramp-ups, increasing content, greenfield additions and accelerating non-auto contributions. The company's non-automobile segments are scaling rapidly, backed by heavy capital expenditure and new plant ramp-ups, according to the brokerage. For the quarter ended September, the company's net profit fell on year due to a high-base effect but its bottom and top lines were higher than analyst estimates.
At 1455 IST, shares of the company were 2.8% higher at INR 119.48. More than 26 million shares of the stock have exchanged hands so far on the National Stock Exchange, nearly four-fold higher than the 7 million shares traded till the same time Wednesday.
Of the 12 brokerage recommendations available with Informist on the stock , 10 have a 'buy' rating with a target price of INR 142, while two have a 'sell' rating. (Eshitva Prakash)
Equity Alert: Emkay Global says HDFC Bk to beat industry credit growth by FY27
MUMBAI--1500 IST--HDFC Bank's management has guided for the bank's credit growth to align with the industry's by the end of the financial year 2025-26 (Apr-Mar) and beat it by FY27, Emkay Global Financial Services said in a report. The broking firm issued the report after a meeting with HDFC Bank Deputy Managing Director Kaizad Bharucha and Head of Investor Relations Bhavin Lakhpatwala. The meeting was to discuss the bank's outlook and strategy amid regulatory easing and rising competition, primarily from government-owned banks.
HDFC Bank's credit growth improved to 10% in the September quarter of FY26, from 3% in the December quarter of FY25, on the back of acceleration in lending to the corporate sector and to small and medium enterprises. The bank expects its credit growth to beat the industry average by FY27, mainly because of the end of the drag from the merger with its parent Housing Development Finance Corp. Ltd. with effect from Jul. 1, 2023, and the improving growth impulse across corporations and small and medium enterprises, according to the report.
However, as around 70% of the bank's loans are at floating rates, its margins are expected to remain under pressure in the near term following cuts in the repo rate by the Reserve Bank of India's Monetary Policy Committee. Even so, the margins should improve from FY27, benefiting from deposit re-pricing, continued moderation in the bank's share of borrowings from 13% to 6–7%, improvement in its current account savings account ratio, and changes in portfolio towards the retail and small and medium enterprise segments, the brokerage said.
The bank's core profitability is expected to report a compounded annual growth rate of 16% over FY25-FY28. The bank expects better income growth led by its net interest income and fees. The bank's cost-to-income is expected to improve as it has made significant investments in its physical and digital infrastructure following the merger of its parent and an embargo by the Reserve Bank of India owing to technological issues faced by the bank, which had resulted in an increased cost-to-income ratio of more than 39-40%. This is now expected to ease despite the management's guidance of continuing to expand its physical and digital footprints, the brokerage said.
The bank's credit growth, along with better income, contained operating expenditure, better retail asset quality in the current cycle as compared to peers such as Axis Bank and Kotak Mahindra Bank, and a strong floating provision buffer of INR 381 billion, or 1.4% of its total loans, is expected to help the bank deliver steady improvement to 2% in its return on assets and 16% in its return on equity by FY28. The brokerage has maintained a "buy" rating on the bank with an unchanged target price of INR 1,225.
At 1500 IST, HDFC Bank shares were up 1.2% at INR 1001.60 on the National Stock Exchange. The stock is up after three consecutive sessions of ending lower during which period it fell over 1%. Nearly 8 million shares of the bank have been traded on the bourse so far, higher than the nearly 7 million shares traded till the same time Wednesday.
All 24 brokerage recommendations on the stock with Informist have a "buy" rating with an average price of INR 1,661. (Akshat Saksena)
Equity Alert: Most Asian indices end lower; KOSPI down for 3rd straight day
MUMBAI--1415 IST--Most Asian indices gave up early gains and closed lower Thursday. South Korea's KOSPI declined for the third consecutive session, weighed down by chip and automobile stocks. Mainland China's CSI 300 index also extended its losing streak to a third session. Japan's Nikkei 225 ended in the red for the second session in a row, pressured by technology and metal stocks.
South Korea-based appliance and consumer electronics company Samsung Electronics Co. fell nearly 1%. Shares of SK Hynix were down almost 4%. Automobile stocks pulled down the KOSPI index as well, with shares of Hyundai Motor Co. closing over 2% lower. Shares of Kia Corp. fell 0.4%. Automobile parts manufacturer Hyundai Mobis ended 0.4% lower.
Japan's Nikkei 225 closed lower as SoftBank Group tracked the fall in Oracle after the US technology major missed Wall Street's forecasts. Shares of SoftBank Group Corp. declined nearly 8%. Shares of Hitachi fell nearly 2%.
Following were the levels of key Asian indices at 1359 IST:
Index | Level | Change in % |
CSI 300 Index | 4552.18 | (-)0.86 |
Hang Seng Index | 25530.51 | (-)0.04 |
Nikkei 225 Day | 50148.82 | (-)0.90 |
TOPIX FIRST SECTION | 3357.24 | (-)0.94 |
KOSPI | 4110.62 | (-)0.59 |
FTSE Singapore Strait Times | 4527.12 | 0.34 |
S&P/ASX 200 Index | 8592 | 0.15 |
(Arundathi A R)
Equity Alert: Indices remain firm, led by gains in financial services shrs
MUMBAI--1400 IST--Benchmark indices remained firm, supported by gains in shares of financial services companies and private sector banks. Rise in index heavyweight HDFC Bank lent support to the Nifty 50, but a fall in ICICI Bank and Bharti Airtel, which together have over 13% weightage in the index, were the biggest drags.
At 1328 IST, the Nifty 50 was at 25855.60, up 97.60 points or 0.4%. The BSE Sensex was at 84679.59, up 288.32 points or 0.3%. Among sectoral indices, the Nifty Private Bank index and Nifty Pharma were off their intraday highs but remained 0.8% and 0.7% higher, respectively. The Nifty Auto index was the biggest gainer, up almost 1%. Shares of Maruti Suzuki India and Mahindra and Mahindra rose around 1% each. Shares of Hero MotoCorp and Eicher Motors were also in the green.
Among index heavyweights, HDFC Bank and Reliance Industries rose 1% and 0.5%, respectively, while ICICI Bank and Bharti Airtel fell 0.3% and almost 1%, respectively. Broader market indices outperformed the benchmarks. The Nifty Midcap 150 and Nifty Smallcap 250 were up almost 1%.
Sona BLW Precision Forgings rose over 4% and was the best performer in the Nifty 200 index. In the Nifty 500 index, Ola Electric Mobility rose more than 8%. (Eshitva Prakash)
Equity Alert: Prabhudas Lilladher upgrades Tata Elxsi to 'hold' from 'reduce'
MUMBAI--1350 IST--Broking firm Prabhudas Lilladher has upgraded its rating on Tata Elxsi to 'hold' from 'reduce' on the back of stock price correction. The brokerage's target price for the company remains unchanged at INR 5,010. Shares of the company rose Thursday, after closing in the red for the previous three straight sessions.
The transportation segment of the company is expected to strengthen gradually, the brokerage said in its report. It sees the company's transportation business to recover revenue in the December quarter. Margin recovery is expected to be gradual and tied closely with the momentum of revenue, the brokerage said. It also sees the company's utilisation potential to rise to about 80% in a conductive macro environment from around 70% currently, which would support margins.
At 1257 IST, shares of the company traded over 2% higher at INR 4,962.50 on the National Stock Exchange. Nearly 687,000 shares of the company changed hands on the NSE, higher than 106,062 shares traded till same time Wednesday. Shares of the company lost over 5% in the last seven days.
Of the 10 brokerage recommendations available with Informist on the company, eight have a 'sell' rating, with an average target price of INR 5,057. (Arundathi A R)
Equity Alert: Premier Energies recovers after hitting 6-mo low of INR 834.10
MUMBAI--1347 IST--Shares of Premier Energies recovered slightly after falling more than 3% to an over six-month low of INR 834 Thursday. The stock had declined almost 11% in the last five sessions. On a weekly basis, the stock closed lower for five consecutive times after the company announced its September quarter earnings, falling almost 18% during this period.
At 1341 IST, the stock was up 0.7% at INR 869.30. More than 1 million shares of the company have been traded on NSE so far Thursday, which is almost four times the 410,000 shares traded till the same time Wednesday.
For the September quarter, the company had reported a lower-than-expected consolidated revenue of INR 18.37 billion, but its net profit of INR 3.53 billion had beat the Street's expectations. In a call with analysts after the earnings were announced, the management had said the company's capital expenditure for the next 24 months would be around INR 100 billion.
Of the five brokerage recommendations available with Informist on the stock, four have a 'buy' or an equivalent rating with an average target price of INR 1,253 while one has a 'hold' call. (Eshitva Prakash)
Equity Alert: Indices remain higher as fincl svcs cos, pvt banks gain
MUMBAI--1220 IST--Benchmark equity indices remained higher, with financial services companies and private banks extending their gains. A rise in shares Eternal and Maruti Suzuki also supported the indices. Healthcare companies came off the day's lows and traded higher.
At 1215 IST, the Nifty 50 was at 25883.50, up 125.50 points or 0.5%. The BSE Sensex was at 84754.82, up 363.55 points or 0.4%. All broader market indices traded with gains, with the Nifty Midcap 150 and the Nifty Smallcap 250 rising 0.5-0.7%. Among index heavyweights, a 1% rise in shares of HDFC Bank was the biggest support for the index, while a 1% fall in Bharti Airtel proved to be the biggest drag. Shares of Titan Co. and Asian Paints were down 0.5% each.
Kotak Mahindra Bank was the top gainer in the Nifty 50 index and its shares advanced more than 3%. Eternal gained more than 2%, but was slightly off the day's highs. All sectoral indices were also higher, with the Nifty Private Bank maintaining its lead and Nifty Pharma, and Nifty Healthcare indices advancing more. Among select pharmaceutical stocks, shares of Dr, Reddy's and Cipla rose more than 1% each and healthcare companies such as Manking Pharma, Max Healthcare, and Sun Pharmaceutical also traded with gains.
Shares of Dixon Technologies rose more than 4% and was the best performing stock in the Nifty 200. Meanwhile, shares of Premier Energies fell more than 3%, extending six sessions of losses. Shares of Valor Estate were down almost 4% and the stock was the worst performer in the Nifty 500 index. (Eshitva Prakash)
Equity Alert: BofA sees India's 2-wheeler outlook improving; Eicher top pick
MUMBAI--1143 IST--BofA expects India's two-wheeler outlook to improve due to a growth in demand, improvement in margins and easing regulatory risks, according to an NDTV Profit report. However, the brokerage also said that much of the near-term optimism is already priced into share valuations. BofA said that the outlook for the sector improved as the impact of the goods and services rate cut has made premium models more accessible and also accelerated demand. The brokerage expects the industry to end 2025–26(Apr-Mar) with around 8% year-on-year volume growth despite a flat growth in the first half of the current financial year.
BofA expects export demand to remain strong for all major original equipment manufacturers, aided by favourable foreign-exchange trends. The brokerage also said that incumbents are gaining market share in electric two-wheelers. On stock preferences, BofA was most positive on Eicher Motors among listed two-wheeler manufacturers. It maintains a 'buy' rating on the stock with a target price of INR 7,750.
It prefers Eicher Motors due to its potential for margin gains through operating leverage and pricing actions. The brokerage expects the company's margins to recover gradually. The company's product initiatives are mainly aimed at optimising existing platforms rather than building new ones, BofA said.
The brokerage said that two-wheeler stocks, except Bajaj Auto, have rallied 45–50% year-to-date, compared with earnings upgrades of only 3–11%, implying that valuations are no longer cheap.
The brokerage retained a 'neutral' rating on Bajaj Auto with a target price of INR 9,300. Hero MotoCorp.'s target price was hiked to INR 6,450, raised from INR 5,900, but a 'Neutral' rating was maintained. Hero MotoCorp. reported a strong festive season and emphasised strengthening its business model, expanding into new categories, improving brand positioning and scaling up electrification, BofA said. The brokerage is also 'neutral' on TVS Motor, with a target price of INR 3,825.
The entry-level segment has shown early signs of revival. However, it is too early to call it a sustained recovery in mass and rural segments, the brokerage said. Anti-lock braking system safety norms, earlier scheduled for implementation in January 2026, may be deferred, and the government is likely to consider lower-cost alternatives, BofA said. (Eshitva Prakash)
Equity Alert: Indices remain higher; small-, mid-cap indices outperform
MUMBAI--1140 IST--Benchmark indices remained higher, buoyed by gains in shares of banks, financial services, and some automobile companies. Investors also bought shares of large-cap pharmaceutical companies. Unlike benchmark indices, which were choppy in early trade, broader market indices maintained their gains and rose further.
At 1133 IST, the Nifty 50 was at 25834.95 points, up 76.95 points or 0.3%. The 50-stock index has moved in a range of 151 points so far Thursday. The BSE Sensex was at 84581.76 points, up 190.49 points or 0.2%. Mid-cap indices rose sharper than headline indices, gaining 0.6% each.
Most sectoral indices were up, with Nifty Private Bank, Nifty Pharma, and Nifty Auto leading the gains, up nearly 1% each. Most automobile and auto ancillory stocks were up, with Sona BLW Precision Forgings and Samvardhana Motherson International leading the gains among Nifty Auto constituents. Bank of America has turned constructive on the Indian two-wheeler sector as demand gains momentum, margins show signs of improvement and regulatory risks ease, NDTV Profit reported.
Shares of Tata Steel rose nearly 1% and were among the top gainers in the Nifty 50 after the company announced the long-term growth strategy for its India business focussed on prudent capital allocation and profitable growth. The company's board had also approved the acquisition of 50.01% stake in Thriveni Pellets from Thriveni Earthmovers for INR 6.36 billion. The remaining 49.99% stake in Thriveni Pellets will be held by Llyods Metals & Energy. Shares of Lloyds Metals were slightly down. (Arya S. Biju)
Equity Alert: Motilal maintains 'buy' on Siemens Energy; target price up 27%
MUMBAI--1120 IST--Broking firm Motilal Oswal maintained a 'buy' rating on Siemens Energy India with a target price of INR 3,800. The brokerage increased the company's target price by 27% on expectations of growth in the power transmission segment and increased opportunities in data centre.
Motilal sees a 10-15% on-year growth in the company's power transmission segment. It also expects the outcome of the company's high-voltage direct current project in South Olepad soon, ET Now said in its X post, quoting Motilal Oswal. Power generation business of Siemens Energy is expected to see high-single-digit growth, driven by demand for cement, steel, sugar, and ethanol. Opportunities in data centres are seen rising, despite limited gas turbine demand due to fuel constraints, according to the X post.
At 1105 IST, shares of the company traded nearly 2% lower at INR 2,939 on the National Stock Exchange. It shed over 5% in seven days and nearly 10% in 30 days. Nearly 217,000 shares of the company changed hands on the NSE, higher than 147,609 shares traded till the same time Wednesday.
Of the eight brokerage recommendations available with Informist on the stock, four have a 'buy' rating with an average target price of INR 3,544 and four others have a 'hold' rating on the stock with an average target price of INR 3,313. (Arundathi A R)
Equity Alert: DCM Shriram rises 8% after co signs MoU with Bayer CropScience
MUMBAI--1045 IST--Shares of DCM Shriram rose nearly 8% to a one-month high of INR 1,302 with a sharp increase in volume after the company said that it had signed a memorandum of understanding with Bayer CropScience to jointly explore opportunities in India's agricultural ecosystem through innovation, sustainability, and farmer-centric solutions. Under the MoU, the two companies will collaborate in areas such as agri-inputs, digital advisory services, sustainable farming practices, and value-chain strengthening. They will also explore potential partnerships across select areas of the chemicals business.
At 1026 IST, shares of the company were more than 7% higher at INR 1,296. Nearly 2 million shares of the company were traded on the National Stock Exchange so far, which is 231 times higher than the number of shares traded till the same time Wednesday. Stocks of the company have risen nearly 6% in a week and more than 5% in the past 30 days.
For the quarter ended September, DCM Shriram reported a net profit of INR 1.58 billion on a revenue of INR 34.32 billion. (Eshitva Prakash)
Equity Alert: Indices recoup losses; bank, fincl svcs stocks lead gains
MUMBAI--1044 IST--Benchmark equity indices recovered their losses and traded higher, supported by gains in banking, financial services and information technology stocks, which came off the day's lows. A further rise in shares of automobile and metal companies also supported the rise in the Nifty 50.
After a slightly higher open, the indices turned choppy. At 1040 IST, the Nifty 50 was at 25829.85, up 71.85 points or 0.3%. The BSE Sensex was at 84595.27, up 204 points or 0.2%. All broader market indices also traded with gains and were up 0.3-0.8%. Barring the Nifty Oil & Gas, all other sectoral indices were positive.
Shares of InterGlobe Aviation fell over 3% to INR 4,645, the lowest in over eight months, after the company trimmed its guidance for capacity and passenger unit revenues for the December quarter due to operational disruptions in its airline IndiGo, which faced several flight cancellations this month. Shares of the company were on a falling spree after IndiGo faced severe disruptions following the implementation of the new flight duty time limitation norms. The stock had fallen in nine of the 10 preceding sessions.
Shares of DCM Shriram rose over 7% to INR 1,294, the highest in over a month, after the company Wednesday signed a memorandum of understanding with Bayer CropScience to jointly explore opportunities in the agricultural ecosystem through innovation, sustainability, and farmer-centric solutions. Under the agreement, the companies will collaborate in areas such as agri-inputs, digital advisory services, sustainable farming practices, and value-chain strengthening and will also explore potential partnerships across select areas of the chemicals business, DCM Shriram said in an exchange filing. The stock was the top gainer in the Nifty 500 index. (Arya S. Biju)
Equity Alert: InterGlobe dn 3%; co sees hit to Q3 passenger revenue, capacity
MUMBAI--1040 IST--Shares of InterGlobe Aviation fell more than 3% to an over-eight-month low of INR 4,645 Thursday after the company cut its guidance for capacity growth (in terms of available seat kilometres) for the December quarter to high single to early double digits from the earlier guidance of high-teens growth. The flight operator also said its passenger unit revenues may decline by mid-single digit year-on-year for the same period. This cut was largely in line with projections from the brokerage Emkay Global Financial Services.
Emkay Global had earlier said that the 16–17% on-year growth for available seat kilometres guided earlier will moderate to 12–13%. The brokerage saw the company's passenger unit revenue to be mildly down from the flat on-year growth guided earlier.
InterGlobe has also said that the Directorate General of Civil Aviation's order to reduce IndiGo's flights for its domestic winter schedule by 10% will adversely impact the company's capacity guidance for Oct-Dec, Dec-Mar, and for 2025-26 (Apr-Mar). Emkay Global projected that the company's March quarter available seat kilometres growth will be hit by around 2% and fall to 14–15%, compared to the high-teens growth guided for earlier.
At 1039 IST, shares of the company were off lows and traded at INR 4801, largely flat from the previous session. More than 3 million shares of the company have exchanged hands so far on the National Stock Exchange, similar to the number of shares traded till the same time Wednesday. InterGlobe has lost over 12% in a week and over 17% in the past 30 days.
Of the 11 brokerage recommendations available with Informist on the stock, eight have a 'buy' or an equivalent rating with an average target price of INR 6,248. Two have a 'sell' recommendation while one has a 'hold' call. (Eshitva Prakash)
Equity Alert: Mkt turns red soon after open; IT cos fail to hold early gains
MUMBAI--1000 IST--Domestic indices moved into negative territory soon after opening slightly higher Thursday, dragged down by information technology stocks which failed to hold on to their early gains. Both the indices had opened slightly higher tracking overnight trade on the Wall Street, which saw gains after the US Federal Reserve's widely expected 25-basis-point rate cut. Even though most Asian indices rose in the early trade as investors cheered the rate cut, some of them slipped to the red soon after.
The US Federal Open Market Committee voted to trim the federal funds target range by 25 basis points to 3.50-3.75% amid a weakening job market and elevated inflation levels in the US economy. Meanwhile, policymakers left their projections for the federal funds rate unchanged from September, signalling only one 25 bps cut in 2026.
At 0958 IST, the Nifty 50 was at 25710.90, down 47.10 points or 0.2%. The BSE Sensex was at 84180.88, down 210.39 points or 0.3%. Broader market indices remained mixed with Nifty MidCap 50 and Nifty MidCap 100 leading the gains, up 0.2% each, while Nifty SmallCap 250 was the worst hit, down 0.3.
Most information technology stocks fell soon after open. At 0953 IST, the Nifty IT index was down 0.2%, with most of its constituents, barring Coforge, LTIMindtree and Infosys, trading in the red. Earlier in the session, the index had risen around 1%. (Arya S. Biju)
Equity Alert: Domestic mkt to open up on positive global cues post FOMC cut
MUMBAI--0831 IST--Benchmark equity indices are expected to open higher and move in a thin range on Thursday, analysts said. They are expected to take cues from global markets, which rose after the US Federal Reserve cut rates by a quarter percentage point. However, the sentiment in the domestic market is bearish amid delay in a US-India trade deal and worries about the rupee's depreciation, analysts said.
Overnight, the US Federal Open Market Committee lowered the federal funds target range by 25 basis points to 3.50-3.75%, as widely expected. However, the vote from policymakers was extremely divided. Indices in the US closed higher following the US Fed's action. Investors in Asia also cheered the cut and most indices in the region were higher in early trade.
The Nifty 50 is expected to open slightly higher and move in a range of 25500-26000 points, Mandar Bhojane, senior research analyst at Chola Securities, said. During Thursday's session, the 50-stock index is expected to face resistance near 26000 points and find support around 25750 points.
The December contract of the GIFT Nifty indicates a positive open for the domestic market. At 0752 IST, the contract was at 25976.50 points, up 2.5 points. This was more than 200 points higher than the closing level of the Nifty 50 on Wednesday.
The Nifty 50 closed Wednesday's session at 25758 points, down 81.65 points or 0.3%. However, the 50-stock index held its crucial support of 25700, though it fell to a low of 25734.55 points during the session. The BSE Sensex closed at 84391.27 points, down 275.01 points or 0.3%. (Gopika Balasubramanium)
Equity Alert: Indices in Asia mixed Thu; KOSPI higher after 2-day fall
MUMBAI--0810 IST--Most Asian indices were trading higher Thursday following the US Federal Reserve cutting key interest rate by 25 basis points. South Korea's KOSPI, which closed lower for the previous two straight sessions, led the pack of gainers in early trade. Hong Kong's Hang Seng Index extended gains for the second straight session.
The Federal Reserve cut its overnight lending rate by 25 basis points, bringing the targeted range to 3.50-3.75%. The median GDP growth was revised upwards to 1.7% annual growth on year in the December quarter of 2025 from 1.6% previously. The estimate for 2026 was also revised upwards by 50 bps to 2.3%.
Mainland China's CSI 300 index was up after two straight sessions of closing lower. Australia's S&P/ASX 200 index rose after closing in negative territory for three straight sessions. Japan's Nikkei 225 gained in early trade, but reversed later and moved to negative territory. Shares of SoftBank Group Corp. fell over 6%, following disappointing earnings from Oracle. This signalled worries regarding artificial intelligence companies' profitability.
Shares of China-based technology company, ZTE Corp, fell over 7% following a Reuters report that the company may need to pay more than $1 billion to the US government to settle allegations of foreign bribery, according to a CNBC report.
Following were the levels of key Asian indices at 0800 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4605.05 | 0.29 |
| Hang Seng Index | 25660.66 | 0.47 |
| Nikkei 225 Day | 50399.8 | (-)0.40 |
| TOPIX FIRST SECTION | 3378.07 | (-)0.32 |
| KOSPI | 4150.86 | 0.38 |
| FTSE Singapore Strait Times | 4533.18 | 0.47 |
| S&P/ASX 200 Index | 8607.6 | 0.33 |
(Arundathi A R)
Equity Alert: Indices in US close higher Wed on 25-bps rate cut by Fed
MUMBAI--0730 IST--Benchmark equity indices in the US closed higher Wednesday as the US Federal Reserve cut its key interest rate by a quarter-percentage point. After falling for the previous two consecutive sessions since Monday, the Dow Jones Industrial Average rallied and closed over 1% higher. The small-cap Russell 2000 index outperformed the large-caps with a 1.3% gain, hitting a fresh all-time high, according to various news reports.
The Federal Reserve cut its overnight lending rate by 25 basis points, bringing the targeted range to 3.5-3.75%, CNBC reported. Market participants raised estimates for GDP growth in 2026 to 2.3% from 1.8% and expectations of a 4.4% unemployment rate at the end of next year remained, Reuters reported.
Industrial stocks made the largest gains in the S&P 500 index. Energy equipment manufacturer GE Vernova jumped nearly 16% after the company forecast higher revenue in 2026, showing strong demand for its artificial intelligence-related infrastructure. On the other hand, defensive utilities stocks were the biggest laggards, Reuters reported.
Shares of regional banks rose during the session, following the Fed's decision to cut rates. Shares of State Street SPDR S&P Regional Banking rose over 3%. Truist Financial Corp. and Huntington Bancshares also ended over 3% higher. Shares of M&t Bank Corp. ended nearly 4% higher.
Following are the closing levels of US indices Wednesday:
| Index | Level | Change in % |
| S&P 500 | 6886.68 | 0.67 |
| NASDAQ Composite | 23654.16 | 0.33 |
| Dow Jones Industrial Average | 48057.75 | 1.05 |
(Arundathi A R)
US$1 = INR 90.37
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Tanima Banerjee
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.
NSE: National Stock Exchange
NYSE: New York Stock Exchange
NYMEX: New York Mercantile Exchange
SEBI: Securities and Exchange Board of India
RBI: Reserve Bank of India
Internet links:
Securities and Exchange Board of India - http://www.sebi.gov.in
Bombay Stock Exchange - http://www.bseindia.com
National Stock Exchange of India - http://www.nseindia.com
Directory of Indian government websites - http://goidirectory.nic.in
Indian Ministry of Finance - http://www.finmin.nic.in
Reserve Bank of India - http://rbi.org.in
Controller General of Accounts, Government of India - http://www.cga.nic.in
Government's Press Information Bureau - http://www.pib.nic.in
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
