More Stories

Informist, Tuesday, Dec. 16, 2025                                      Tel +91 (22) 6985-4000

Equity Alert: Indices seen down Wed amid FPI selling, rupee depreciation

MUMBAI--1652 IST--Analysts expect domestic benchmark indices to fall further on Wednesday as the Nifty 50 ended close to its immediate support levels in the previous two sessions. The continous fall in the Indian rupee, which touched fresh all-time lows of INR 91.08 per dollar intraday on Tuesday, and continous outflows from foreign portfolio investors have hit sentiment in the market.

Lingering doubts over the US-India trade deal and currency fluctuations are expected to keep indices down in the coming sessions. Both the Nifty 50 and BSE Sensex fell closed 0.6% down on Tuesday. Technical analysts expect the Nifty 50 to find support at 25650-25750 and face resistance around 25950–26000.

Any progress in the US–India trade deal will be closely monitored by the market. Informist on Tuesday exclusively reported, quoting an official from the commerce ministry, that the chief negotiators from India and the US have concluded their discussions on the proposed Bilateral Trade Agreement. The remaining issues now require intervention at the ministerial level, including the commerce minister and the prime minister, the official said. 

Investors are waiting for the US consumer price index inflation and employment figures, which may give cues on the interest rate trajectory in the US in 2026. The employment report for November will be out later in the day and the CPI report is scheduled to be released on Wednesday.  (Eshitva Prakash)

Equity Alert: Prabhudas Lilladher sees 'Dhurandhar' boost PVR Inox earnings

MUMBAI--1630 IST--Broking firm Prabhudas Lilladher expects the film 'Dhurandhar' to lead to an earnings upgrade for PVR Inox. Shares of the company Tuesday fell more than 2% to an intra-day low of INR 1,062.30, after having risen over 3% in the previous session after box office collections of the Ranveer Singh-starrer crossed the INR 3 billion mark.

Industry wide, the net box office collections so far in the December quarter are INR 25.70 billion, with 15 days left for the quarter to end, brokerage Prabhudas Lilladher said. With 'Avatar: Fire & Ash' set to release on Friday, there is a strong possibility of the industry-wide box office collections surpassing the INR 30 billion mark in the December quarter, a feat only been achieved thrice since the COVID pandemic.

The brokerage noted that PVR Inox's earnings before interest, tax, depreciation and amortisation margins are quite healthy every time industry-wide box office collections breach the INR 30 billion mark. The December quarter of 2024-25 (Apr-Mar) was an exception as box office collections were dominated by 'Pushpa-2' and the company has a low box office share when it comes to regional films. As the Hindi language collection of 'Kantara- A Legend Chapter-1' was higher than its Kannada version by around 36%, a strong performance by a Hindi film will help alleviate concerns of a scenario like that for this quarter, the broking firm said. The release of 'Avatar: Fire & Ash' is also expected to help the company with its share of 55–70% of English films. The previous 'Avatar' film had earned INR 3.9 billion at the box office, according to the brokerage.

'Dhurandhar' has done much better than expectations and it is on track to achieve lifetime collections of INR 4 billion to INR 5 billion. "...it is not as if movies haven't netted Rs4-5bn in past. However, few expected the movie to do so well and that is where the delta lies," the brokerage said. This film's surprising performance might lead to rise in the company's EBITDA estimates for the coming quarters, which could in turn lead to higher estimates for FY26.

On Tuesday, shares of PVR Inox ended 0.6% lower at INR 1,079.80, with over 450,000 shares changing hands on NSE. Of the 15 brokerage recommendations available with Informist on the company, 12 have a 'buy' rating with an average target price of INR 1,594. Three brokerages have a 'hold' rating on the stock. (Akshat Saksena)

Equity Alert: Indices end lower tracking global markets, rupee's fresh lows

MUMBAI--1545 IST--Benchmark equity indices ended lower Tuesday, dragged down by a fall in shares of information technology and metal companies and private banks. The market had opened lower due to negative global cues and fell further after the rupee plummeted to fresh record lows against the dollar. The domestic currency fell to a record low of INR 91.08 per dollar.

The Nifty 50 settled at 25680.10, down 167.20 points or 0.6%. The BSE Sensex ended at 84679.86 points, down 533.50 points or 0.6%. Shares of Axis Bank closed over 5% lower, and the stock was the worst performer in the Nifty 50 after its management indicated that net interest margins are likely to bottom out later than expected. Among other private banks, shares of HDFC Bank closed lower and ICICI Bank ended flat. These two stocks together hold over 20% weightage in the Nifty 50 index. Bharti Airtel was the second-best performing stock in the 50-stock index, behind Titan Co., and these stocks rose over 1.5% each.

Among those that fell, index heavyweight Reliance Industries lost almost 1%. IT companies such as Infosys, Wipro, and Tata Consultancy closed 1-2% lower. Metal companies JSW Steel and Tata Steel declined almost 3% and 2%, respectively.

In the Nifty 200 index, shares of PB Fintech fell the most, down more than 5%. On the other hand, Supreme Industries ended more than 4% higher. Shares of Hindustan Zinc closed largely flat after gaining for five consecutive sessions amid surging silver prices. However, shares of its parent, Vedanta, rose more than 3% after the National Company Law Tribunal Mumbai approved the company's demerger plan. Shares of Vedanta have risen for six consecutive sessions.  

Most sectoral indices closed the session lower. The Nifty FMCG index, which was up for a majority of the session, closed flat. The Nifty Consumer Durables index closed 0.6% higher. The Nifty Private Bank, the Nifty IT, and the Nifty Realty index closed around 1% lower each.  

Ola Electric Mobility fell nearly 8% and was the worst hit Nifty 500 stock. Kirloskar Oil Engines, Tata Teleservices (Maharashtra), 8% and 5%, respectiely, and topped the 500-stock index. 

Small- and medium-cap indices were hit harder than their benchmark peers. The Nifty Smallcap 250 index declined 0.7%, weighed down by a 2-4% fall in Alembic Pharmaceuticals, Aditya Birla Lifestyle Brands, and Aavas Financiers. Aditya Birla Sun Life AMC was the only decisive gainer in the index and was up almost 3%. Among mid-cap stocks, AIA Engineering, Bharat Dynamics, and Ajanta Pharma dropped 2–3%, meanwhile Bharti Airtel subsidiary Bharti Hexacom rose almost 3%.  (Eshitva Prakash)

Equity Alert: Nifty 50 Dec ends at premium of 71.90 points to spot index

MUMBAI--1541 IST--The December futures contract of the Nifty 50 closed at a premium of 71.90 points to the spot index Tuesday. Open interest in the contract rose 2.3% to 16.23 million, according to provisional data.

--Nifty 50 closed at 25860.10 points, down 167.20 points or 0.6% vs Mon

--Nifty 50 December closed at 25932.00 points, down 176.70 points or 0.7% vs Mon

Nifty 50 options, expiring Dec. 23, with maximum change in open interest:

Call: 26000, Put: 25000

Nifty 50 options, expiring Dec. 23, with maximum open interest:

Call: 27000, Put: 25000

(Simran Rede)

Equity Alert: Vedanta hits record high after NCLT Mumbai OKs demerger plan

MUMBAI--1525 IST--Shares of Vedanta rose over 4% to an all-time high of INR 572.70. The stock, which was flat earlier, rose after the National Company Law Tribunal approved the company's demerger plan.

The Mumbai bench of the National Company Law Tribunal Tuesday approved the company's scheme of arrangement for the demerger of its businesses and rejected the government's objections to the same. On Sept. 30, Vedanta extended the deadline to implement the demerger scheme by six months to Mar. 31, citing delay in approvals by the Mumbai bench of the tribunal and other government authorities.

At 1500 IST, shares of the company traded 3% higher at INR 565.35 on the National Stock Exchange. Over 24 million shares of the company changed hands on the NSE, higher than over 11 million shares traded till the same time Monday.

Of the eight brokerage recommendations available with Informist on the company, six have a 'buy' rating with an average target price of INR 602. One brokerage has a 'sell' rating and the remaining one has a 'hold' rating on the stock.  (Arundathi A R)

Equity Alert: Motilal Oswal says demand for apparel, footwear down post Diwali

MUMBAI--1515 IST--The overall consumer demand across apparel and footwear retail remains mixed to muted after the festive period as most stores are going through the common slowdown seen after Diwali, according to a report by Motilal Oswal Financial Services. November experienced a slight pick-up due to the wedding season, demand in December has softened again as consumers delay their purchases in anticipation of higher discounts at the 'end of season' sale, the brokerage said.

Despite strong footfall at malls, branded retailers were not able to convert it into meaningful store traffic, the brokerage said. Footfall across most exclusive brand outlets remains weak, with very low weekday traffic and only a slight improvement over the weekends. On the other hand, value-focused retailers such as Zudio, Max, and Pantaloons continue to see strong customer engagement, according to the brokerage. Value retailers and departmental stores benefited from the higher footfall due to their offering of multiple brands at affordable prices.

The quarterly demand trend remains soft due to the slowdown after the festive season, weak footfalls at exclusive brand outlets, and muted conversions, the brokerage said after its discussions with retailers. The end-of-season sale, expected in the third week of December, is likely to be a catalyst for any meaningful recovery in traffic and sales as consumers are seen delaying their purchases till the sale arrives. Competitive price points and broader assortment have helped value fashion and multi-category departmental formats such as Zudio, Pantaloons, Max and Shoppers Stop to continue benefiting from the stronger footfalls as they are structurally better positioned to draw mall traffic compared to single premium brand formats, the brokerage said.

Motilal Oswal noted that there are no near- or medium-term challenges from rising competition and low demand. The brokerage prefers value fashion retailers V-Mart and Vishal Mega Mart and is positive about Avenue Supermart's retail D Mart and Trent. The brokerage prefers Metro Brands in the footwear space.  (Akshat Saksena)

Equity Alert: European indices open mixed as investors focus on US jobs data

MUMBAI--1442 IST--European indices opened on a mixed note after ending Monday's session with robust gains. Investors were cautious ahead of the crucial US jobs data. The US employment reports for October and November are the first significant economic indicators this week that could shape expectations for the US Federal Reserve's monetary policy in the coming year. The UK's FTSE 100 Index was down 0.2% and Germany's DAX Performance-Index was down 0.4%.

Market participants are keenly focusing on any clues that would indicate the future of interest rates after the Fed policy outcome Wednesday. The central bank commentary was viewed as less hawkish and cementing expectations for further rate cuts, Reuters reported.

Shares of technology company Rheinmetall fell 4.3%. Technology stocks also fell, including heavyweights such as ASML, down 2%. Banking stocks continued to gain and were up 0.3%. Shares of Switzerland-based banking major UBS rose 1.6% after global brokerage Bank of America raised the stock to "buy" from "neutral", as per the Reuters report.

Following were the levels of major European indices at 1432 IST: 

(Adhithya Aji)

Equity Alert: Asian indices end lower as tech stocks weigh, KOSPI down 2.2%

MUMBAI--1412 IST--Most Asian indices ended lower as technology stocks fell ahead of the release of key economic data from the US such as employment and inflation reports that could drive the direction of interest rates in the world's largest economy. South Korea's KOSPI fell 2.2% and Japan's Nikkei ended 1.6% lower.

The KOSPI fell because of a fall in technology stocks such as Samsung Electronics and computer chipmaker SK Hynix, down nearly 2% and 4.3%, respectively. The Nikkei 225 Day fell ahead of Japan's central bank policy meeting Friday where it is expected to raise interest rates. Earlier, the flash Purchasing Managers' Index numbers from S&P Global showed that business activity in Japan for December is expected to be lower than in November. The composite Purchasing Managers' Index came in at 51.5 compared with 52 in November, CNBC reported.

China's CSI 300 Index fell 1.2% and Hong Kong's Hang Seng Index fell 1.5%. Both indices fell for the second consecutive session after China's industrial output grew at the slowest pace since August 2024. While the country's industrial output grew at 4.8% on year, retail sales grew at 1.3%, the slowest pace since December 2022, Reuters reported. 

Investors are now focused on the US employment reports for November and October and the inflation report due Tuesday. However, these reports will be missing key details as they comes after the longest government shutdown in the US, which prevented data collection, Reuters reported. 

Following were the levels of key Asian indices at 1403 IST:

(Adhithya Aji)

Equity Alert: Reliance Infra hits 5% upper band despite legal troubles

MUMBAI--1411 IST--Shares of Reliance Infrastructure hit the 5% upper circuit at INR 149.65. The stock has risen over 10% in the last three consecutive sessions. The stock is up despite the company facing many legal issues.

Last week, the Enforcement Directorate placed a lien on INR 778.6 million in the company's bank accounts for alleged violations under the Foreign Exchange Management Act, 1999. In another development, the Enforcement Directorate has attached seven properties of the company for alleged violations of the Prevention of Money Laundering Act, 2002. The agency has so far attached assets worth INR 101 billion in a money-laundering case against Anil Ambani-linked companies, including assets worth INR 3.39 billion pertaining directly to Reliance Infrastructure, the company said in a clarification to exchanges Friday.

At 1411 IST, a little over 1 million shares of the company had changed hands on NSE, compared to 881,510 shares traded till the same time Monday.  (P. Madhu Kumar)

Equity Alert: Indices remain weak as FMCG companies give up early gains

MUMBAI--1340 IST--Indices remained weak as major fast-moving consumer goods companies gave up some of their early gains. Gains in Bharti Airtel and Titan Co. limited the fall, while a continued decline in Axis Bank and index-heavyweight Reliance Industries weighed on the Nifty 50 index. Metal, information technology companies, and private banks remained lower.   

At 1316 IST, the Nifty 50 was at 25881.10 points, down 0.6% from Monday's close. The BSE Sensex was at 84741.31 points, down 0.6%. Shares of FMCG companies such as Tata Consumer Products and Asian Paints traded in the green, but gave up gains from earlier in the session. Shares of Nestle India were down marginally after rising for most of the session. Shares of ITC traded flat. Mahindra & Mahindra and Bajaj Auto were up 0.4% each after trading lower earlier in the session. Shares of Tech Mahindra were flat after being down for most of the session.

Select telecommunication stocks rose, with the BSE Telecommunication index almost 1% higher. Shares of Bharti Airtel were up 1.4% and those of Tata Communications rose over 2%. Tata Teleservices (Maharashtra) was the best performing Nifty 500 stock, rising almost 11%.

Among the 200-stock index, shares of PB Fintech fell the most, down almost 5%. Supreme Industries held onto its gains and was up more than 4%. Transformers and Rectifiers and Ola Electric Mobility fell nearly 5% each and were the worst hit Nifty 500 stocks.  (Eshitva Prakash)

Equity Alert: Tata Tele Maha climbs 12% amid high volumes, snaps 4-day fall

MUMBAI--1335 IST--Shares of Tata Teleservices (Maharashtra) rose nearly 12% to a one-week high of INR 54.50 amid a sharp spike in volumes. Till 1308 IST, over 78 million shares of the company had changed hands on NSE, nearly 46 times the 1.8 million shares traded till the same time Monday. This is way higher than its three-month average volume of 4.20 million.

The stock rose after falling in the previous four sessions and has now recouped the over 9% lost in this period. At 1308 IST, shares of the internet services provider traded over 11% higher at INR 54.21 and were among the top gainers in the Nifty 500 index. So far this year, the stock has fallen over 28% compared to the 8.5–9.5% growth in the benchmark Nifty 50 and Sensex.

For the quarter ended September, Tata Teleservices reported a net loss of INR 3.21 billion against a net loss of INR 3.25 billion reported a quarter ago. The company's revenue for the September quarter rose 0.7% on quarter to INR 2.86 billion.  (Arya S. Biju)

Equity Alert: PNB Housing Fin dn; ICICI Sec ups rating on valuation comfort

MUMBAI--1330 IST--ICICI Securities has upgraded the shares of PNB Housing Finance to 'add' from 'hold' due to comfortable valuations and an end to the uncertainty around the position of chief executive office, which is expected to be a positive catalyst. It has kept the target price unchanged at INR 970. Shares of PNB Housing Finance fell more than 1% Tuesday to a low of INR 908.05.

ICICI Securities believes onboarding of a new managing director and CEO with strong domain expertise and heading all critical verticals such as sales, credit, and risk in his previous assignments, would ensure the non-banking finance company's sustained growth momentum. "Early bucket delinquencies in business booked in last 12/24 months stand at 0.22%/0.61%, respectively, suggesting better quality of incremental growth," the brokerage said.

The sudden exit of MD Girish Kousgi in July had raised concerns about continuity of business strategy and growth momentum. The broking firm believes a strong foundation led by the previous management would ensure a smooth management transition.

It expects the company to report 18% growth in assets under management for 2025-26 (Apr-Mar) and FY27, which will translate into 2.5% and 2.2% growth in return on assets for FY26 and FY27, as well as 12% and 11% growth in return on equity. "Given that now the top management is in place, the company would be well positioned to deliver its AUM growth guidance (of 17-18% for FY26)," the report said.

The stock is down for the second session, falling 3% over this period. At 1321 IST, shares of the company traded 1.2% lower at INR 910.90. All five brokerage reports on the stock available with Informist have a 'buy' or equivalent rating with an average target price of INR 1,081. So far Tuesday, 424,808 shares of the company have changed hands on the NSE, lower than 1.66 million shares traded during the same period on Monday.  (Simran Rede)

Equity Alert: Antique Stock Broking starts Adani Power coverage with 'buy'

MUMBAI--1259 IST--Antique Stock Broking has initiated coverage on Adani Power with a 'buy' rating and a target price of INR 187. The company is set for multi-year earnings growth, led by capacity expansion to 41.9 gigawatt by 2032-33 (Apr-Mar) from 18.15 GW in FY25, the brokerage said.  

The company has transitioned from a stressed thermal independent power producer to the most efficient private baseload power producer, Antique Stock Broking said. Coal Power is expected to be pushed by favourable conditions with demand expected to rise at a compounded annual rate of 6% over FY22 to FY32, the brokerage said. The rise in demand is fuelled by rising needs from electric vehicles, data centres, artificial intelligence, and manufacturing. The company has secured a dominant share of 70% or 12.4 GW of the ongoing state-led thermal power purchase agreements. Securing these agreements highlights the company's cost and execution advantage, the brokerage said. 

The company's earnings visibility is strong as 90% of its operational capacity and 67% of the 41.9 GW portfolio is linked under long-term power purchase agreements, the brokerage said. The new power purchase agreements offer higher fixed charges with fuel security supported by fuel supply agreements under the Scheme for Harnessing and Allocating Koyala Transparently in India or the SHAKTI scheme. The brokerage expects the company's revenue to grow at a compounded annual rate of 16% over FY25 to FY32. It expects the company's net profit to grow at a compounded annual rate of 17% during the same period. The company will fund around 60% of its INR 2,000-billion capital expenditure pipeline through its internal accruals, leading to steady deleveraging and helping its net debt to earnings before interest tax depreciation and amortisation to decline. The brokerage expects the company's EBITDA to grow at a compounded annual rate of 19% over FY25 to FY32. 

At 1259 IST, shares of Adani Power were slightly lower at INR 144.16 on the National Stock Exchange. Nearly 7 million shares of the company have been traded on the bourse so far this session, less than half the number of over 15 million shares traded till the same time on Monday.

All the six brokerage reports on the stock available with Informist have a 'buy' rating on the stock with an average target price of INR 542.  (Akshat Saksena)

Equity Alert: Meesho surges 13% to intraday high of INR 193.44 

MUMBAI--1250 IST--Shares of electronic commerce major Meesho rose over 13% to an intraday high of INR 193.44 on Tuesday. The stock was up for the second consecutive session and has gained 17% during this period. Since its listing on Wednesday, the stock has risen 74% from its issue price of INR 111.

At 1236 IST, shares of the company were trading nearly 7% higher at INR 182.20. Nearly 130 million shares of the company changed hands, which is seven times higher than the number of shares traded till the same time Monday.

The shares of the company listed at a premium of 46% on NSE Wednesday. On its debut day, the stock ended over 53% higher at INR 170.09. The company's initial public offering, which closed on Dec. 5 was subscribed to a whopping 79 times, with bids placed for 21.97 billion shares against the 277.94 million on offer.  (Adhithya Aji)

Equity Alert: Indices fall more after rupee hits fresh record low

MUMBAI--1215 IST--Benchmark indices fell more after the rupee slipped below the 91-per-dollar mark for the first time to hit a record low of 91.07. Metal, information technology, and financial services stocks continued to weigh on the Nifty 50, while fast-moving consumer goods stocks and select consumer durable stocks limited the fall. A near 1% fall in index heavyweight Reliance Industries also hit the market's performance.

At 1215 IST, the Nifty 50 was at 25884.60 points, down 142.70 points or 0.6%. The index was nearly 2% lower than its all-time peak of 26325.80, which it hit at the start of this month. The BSE Sensex was at 84740.45 points, down 472.91 points, or 0.6%. Other than information technology companies and private banks, which were the top losers on the 50-stock index, metal companies were also lower. Shares of Tata Steel, JSW Steel, Jindal Steel, and Hindalco Industries fell 1-2%. Hindustan Zinc was 0.5% lower after gaining for the last five sessions on surging silver prices. The Nifty Metal index was 1.4% lower.

The Nifty IT index remained lower and was down 1%. Among its constituents, Infosys, HCL Technologies, Tata Consultancy Services fell more and were 1-2% lower. Among private banks, shares of Axis Bank fell nearly 4%, and were the worst performers in the Nifty 50. The bank's management indicated that net interest margins are likely to bottom out later than expected, CNBC-TV18 reported. ICICI Bank and HDFC Bank also traded in the red.

The Nifty India Defence index fell 1.4%, weighed down by a 2–5% decline in Dynamatic Technologies, Bharat Dynamics, Unimech Aerospace and Manufacturing, and Garden Reach Shipbuilders & Engineers.  (Eshitva Prakash)

Equity Alert: Axis Bank falls 4%; bk says NIMs recovery likely to be delayed

MUMBAI--1150 IST--Shares of Axis Bank fell over 4% to an intra-day low of INR 1,231 and was among the worst performers in the Nifty 50. This came after the management of Axis Bank indicated that net interest margins are likely to bottom out later than expected, a report from CNBC-TV18 said. The bank revised its outlook, with net interest margins to trough in either the March quarter of 2025-26 (Apr-Mar), compared with its earlier guidance of the third quarter, according to the report. The bank's management told global brokerage Citi that its net interest margins are targeted at 3.8% over the next 15–18 months from 3.73% in the September quarter. The bank told the brokerage its net interest margins are expected to follow a C-shaped recovery path, the report said.

The brokerage has mainatined a 'neutral' rating on the stock with a target price of INR 1,285. The bank's corporate segment is gaining traction with its retail business showing signs of recovery as well, the brokerage was cited as saying by CNBC-TV18. However, the sustained momentum will need to be closely monitored, the report added. The bank's credit card portfolio is seen easing, its personal growth stabilising and no visible stress in the export-oriented micro, small and medium enterprises. However, the brokerage expects the bank to see a seasonal uptick of slippages in the December quarter due to the agricultural cycle, but are expected to be less severe than they were in the June quarter, the CNBC-TV18 report said. The brokerage also expects the bank's optimisation of its fee-to-asset ratio to remain constrained in the near term. 

At 1132 IST, shares of Axis Bank were down nearly 4% at INR 1,236.50 on the National Stock Exchange. Nearly 5 million shares of the company were traded on the bourse so far this session, more than eight times the 590,277 shares traded till the same time on Monday.

Out of 24 brokerage reports on Axis Bank available with Informist, 21 have a 'buy' rating with an average target price of INR 1,384 while the remaining three have a 'hold' rating.  (Akshat Saksena)

Equity Alert: Most fertiliser cos up; govt assures of adequate urea stocks

MUMBAI--1145 IST--Shares of most fertiliser companies rose Tuesday after reports that Finance Minister Nirmala Sitharaman had assured that there would be no fertiliser shortage during the ongoing rabi season as the government had built a "bumper buffer" of urea to meet higher demand following a good monsoon and rising fertiliser use by farmers. At 1137 IST, shares of Fertilizers and Chemicals Travancore, Madras Fertilizers, Chambal Fertilizers & Chemicals, National Fertilizers, Rashtriya Chemicals and Fertilizers, and Gujarat State Fertilizers & Chemicals were up 1-7%. 

This is expected to strengthen the earnings of fertiliser companies, as it would reduce the risk of seasonal shortages, panic buying and sudden policy interventions, which have in the past led to supply disruptions and working-capital stress, Seema Srivastva of SMC Global Securities said. Further, the continued commitment to fertiliser subsidies by the government provides revenue visibility for both public and private fertiliser players, insulating them from extreme global price volatility in urea, gas and phosphates, she said.

From the demand side, a buffer of fertilisers is expected to support stable crop sowing and yields and, in turn, higher fertiliser consumption going forward, Srivastva said. "However, the long-term upside remains capped by regulated pricing and dependence on subsidies," she added. The government has sought Parliament's approval for a net additional expenditure of INR 414.55 billion through the first batch of supplementary demands for grants for 2025-26 (Apr-Mar), of which INR 185.25 billion is towards fertiliser and related subsidies, according to a report by Moneycontrol.  (Arya S. Biju)

Equity Alert: Indices remain lower; IT, pvt bank sectoral indices fall 1%

MUMBAI--1142 IST--Benchmark indices continued to trade lower with little movement in the last one hour. The Sensex and Nifty 50 were weighed down by a fall in shares of information technology companies, private banks, and financial services companies. Select insurance companies advanced. Indices were also lower after the rupee slipped below the 91 per dollar mark, falling to a fresh record low of 91.08.

At 1139 IST, the Nifty 50 was at 25884.35 points, down 143.60 points or 0.5%. The BSE Sensex was at 84719.92 points, down 492.70 points or 0.6%. Among banks and financial services, Axis Bank was 4% lower, Jio Financial Services fell 1.5% and HDFC Bank, ICICI Bank also traded in the red. Information technology stocks also dragged the Nifty 50 with shares of Wipro, Infosys, HCL Technologies trading 1-2% lower. The Nifty IT index dropped more than 1%.

Shares of Tata Consumer Products, Nestle India, and Asian Paints were up 1-2% and these fast-moving consumer goods companies were the three best performing stocks among the Nifty 50 gainers. Meanwhile, Eternal extended losses and was almost 5% lower.

Shares of fertiliser-making companies such as Fertilizers And Chemicals Travancore rose more than 7% and those of Chambal Fertilizers & Chemicals advanced 3%. Finance Minister Nirmala Sitharaman said that there would be no shortage of fertilisers during the ongoing rabi season, according to a report by Moneycontrol. The minister said urea stocks had sharply increased within a month through calibrated imports and close monitoring of supplies across states.

Shares of key life insurance companies were up ahead of a discussion on the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, which is likely to be tabled in the Lok Sabha Tuesday. HDFC Life Insurance Co. and SBI Life Insurance Co. rose 0.5–1%. The Union Cabinet Friday approved 100% foreign direct investment in the insurance sector from 74% at present. The bill seeks amendments to the Insurance Act, the Life Insurance Company Act, and the Insurance Regulatory and Development Authority of India Act in order to expand capital access for insurance companies.  (Eshitva Prakash)

Equity Alert: Arvind Fashions up 5%; Motilal Oswal starts coverage with 'buy'

MUMBAI--1115 IST--Shares of Arvind Fashions rose 5% to hit an intraday high of INR 521. The stock was up for the fourth straight session and gained nearly 9% during this period. Motilal Oswal has initiated coverage on the company with a 'buy' rating and a target price of INR 725, which implies 38 times earnings per share in December 2027 and an upside of 46.5%, ET Now posted on its X platform, quoting the brokerage.

The brokerage expects a 13% compound annual growth rate of revenue and a 190 basis point margin expansion. It also sees earnings before interest, tax, depreciation, and amortisation at 10.3% by 2027-28 (Apr-Mar). The company's return on invested capital rose to 12% in FY25 from 5% in FY19, according to the X post by ET Now, quoting Motilal Oswal. The company is at an inflection point, said the brokerage.

Aided by its power brands, the company surpassed its pre-Covid revenue by FY25, despite its exit from businesses which generated around 32% of its FY19 revenue, Motilal Oswal said. The brokerage expects the company's earnings visibility to improve, margin expansion to sustain, and a rise in return ratios. Arvind Fashions is well positioned as a high-quality compounding one among the fashion companies in India, according to the ET Now post, quoting the brokerage.

At 1057 IST, shares of the company rose nearly 4% to INR 513.65 on the National Stock Exchange. Over 500,000 shares of the company changed hands on the NSE, much higher than the 16,915 shares traded till the same time Monday.

All the six brokerage recommendations available with Informist on the company have a 'buy' rating with an average target price of INR 596.  (Arundathi A R)

Equity Alert: Motilal Oswal sees cables, wire sector CAGR 14% over FY25-FY30 

MUMBAI--1040 IST--The strong growth momentum in the cables and wires sector remains intact due to demand in power generation, transmission and distribution sectors, increasing capital expenditure in data centres and demand in real estate and defence sectors, said Motilal Oswal in a report. The cables and wires industry grew 13% over 2022-23 (Apr-Mar) and FY25 to INR 900 billion, according to the brokerage. Given the vast scale and diversified demand across sectors such as construction, railways, defence, data centres, and exports, the compound annual growth rate of the cables and wires industry is estimated at 14% over FY25-FY30, the brokerage added.

India has been a net exporter of cables and wires since FY20. For the first half of FY26, the exports increased 30% on year to INR 118 billion. The strong demand in global markets is primarily driven by capital expenditure in renewables, data centres, and grid-modernisation programmes, driving increased requirements for specialty cables across key regions such as the West Asia, Africa, Europe and Australia, Motilal Oswal said.

"India's data centre industry is on a strong growth trajectory, supported by rapid digitalisation, rising cloud adoption, expanding AI (artificial intelligence) workloads, and favorable regulatory developments," Motilal Oswal said. As data centres scale up, they emerge as the major consumers of high-capacity power cables, control and instrumentation cables, and fiber-optic cables. Typically, 5-10% of the capital expenditure for data centre projects is represented by cables. Industry estimates suggest that about INR 35 million of cable demand is generated for every 1 megawatt capacity addition in data centres, the brokerage said.

The brokerage reiterated a 'buy' rating on the stocks of Polycab and KEI Industries. It has a 'neutral' rating on Havells and RR Kabel. At 1018 IST, shares of Polycab India were 0.4% lower at INR 7,307 and those of KEI Industries were 0.5% lower at INR 4,147. RR Kabel was marginally lower at INR 1,452.90. The stock of Havells India was marginally higher at INR 1,414.30.  (Adhithya Aji)

Equity Alert: Bharti Airtel, Bharti Hexacom rise after Morgan Stanley report

MUMBAI--1035 IST--Bharti Airtel rose nearly 2% to a high of INR 2,103.50 after global brokerage Morgan Stanley raised the company's target price by 20% to INR 2,435 and maintained its 'overweight' rating on the stock, according to a post by CNBC-TV18 on X. The stock has performed well this year, rising 26% in the last 52 weeks. The company's subsidiary Bharti Hexacom rose over 3% to a high of INR 1,759. Bharti Airtel is a promoter of Bharti Hexacom and owns nearly 350 million or 70% of its shares.

Morgan Stanley expects multiple levers to drive mid-single digit growth in Bharti Airtel's average revenue per user in the medium term. This is likely to support double-digit growth in earnings before interest, tax, depreciation, and amortisation for the company's India business, the post said. The brokerage expects sustained improvement in the company's return ratios to above 20%. The ongoing repair phase in the telecom sector is likely to continue in the near term, according to the brokerage. With a tariff hike expected in the September quarter, the stock is likely to start factoring in expectations of higher tariffs even before the actual hike itself, the brokerage said, according to the post by CNBC-TV18. 

At 1009 IST, shares of Bharti Airtel were up 1% at INR 2091.60 on the National Stock Exchange. Over 1 million shares of the company were traded on the bourse so far this session, more than twice the 503,472 shares traded till the same time on Monday. Shares of Bharti Hexacom were up over 2% at INR 1,740.20 on the bourse. Over 100,000 shares of the company were traded during the session so far, over six times the shares traded till the same time on Monday. 

Out of 16 brokerage reports on Bharti Airtel available with Informist, 15 have a 'buy' rating with an average target price of INR 2,113, while one has a 'sell' rating. Out of four brokerage reports available with Informist on Bharti Hexacom, three have a 'buy' rating with a target price of INR 2,088 and one has a 'hold' rating.  (Akshat Saksena) 

Equity Alert: Quick-commerce cos down, Eternal falls after 3 sessions of gain

MUMBAI--1032 IST--Shares of quick-commerce companies Eternal and Swiggy fell on Tuesday. Eternal was down almost 4% in early trade and hit an intraday low of INR 286.70 on NSE. The stock fell after three days of gains, during which it gained over 5%. Swiggy fell for the second straight session and was down over 3% in two days.

At 1030 IST, shares of Eternal traded nearly 4% lower at INR 286.15 on NSE. Almost 18 million shares of the company changed hands on the NSE, much higher than over 6.6 million shares traded till the same time Monday. Of the 15 brokerage recommendations available with Informist on the company, 13 have a 'buy' rating with an average target price of INR 355.85 and the remaining two have a 'sell' rating on the stock.

At 1030 IST, shares of Swiggy traded nearly 2% lower at INR 405.60 on the NSE. Over 10.4 million shares of the company changed hands on the NSE, sharply higher than 2.6 million shares traded till the same time Monday. The 12 brokerage recommendations available with Informist on the company have a 'buy' rating with an average target price of INR 510 on the stock.  (Arundathi A R)

Equity Alert: Market falls further; small-, mid-cap indices extend losses

MUMBAI--1016 IST--Benchmark indices fell further as a rise in shares of select fast-moving consumer goods companies were unable to limit losses in the early trade, owing to a slump in private banks. Broader market indices fared worse than their benchmark peers. 

At 1012 IST, the Nifty 50 was at 25889.10 points, down 138.20 points or 0.5%. The BSE Sensex was at 84744.49 points, down 468.87 points or 0.6%. Axis Bank and index heavyweight Reliance Industries were the top draggers and were down almost 4% and nearly 1%, respectively. Among other private banks, ICICI Bank fell 0.4% and HDFC Bank was almost flat. The Nifty Private Bank index was down 1%. The Nifty Metal index also declined sharply and among its constituents, Hindustan Copper, Jindal Steel, and Steel Authority of India were the worst hit, down 1.5-3.0%.

Bharti Airtel, Tata Consumer Products, Nestle India, and HDFC Life Insurance were among the few stocks that edged higher. A 1% rise in Titan Co. also lent support to the Nifty 50 and the Nifty Consumer Durable index briefly rose before turning flat.

Smallcap and midcap companies were hit harder than their benchmark peers. The Nifty Smallcap 250 index was 0.6% lower and the Nifty Midcap 150 index declined almost 0.7%. Shares of Action Construction Equipment, Aditya Birla Real Estate, and Aavas Financiers faced the sharpest fall among smallcap companies and declined around 2% each. Among midcaps, Bharat Heavy Electricals, AIA Engineering, and Bharat Dynamics fell nearly 2-3%.  (Eshitva Prakash)

Equity Alert: Citi keeps cautious view on IT sector, picks Infosys, HCL Tech

MUMBAI--1005 IST--Global brokerage Citi has reiterated its cautious stance on both global and Indian information technology services, as the sector's demand outlook continues to point to a slow recovery, The Economic Times reported Tuesday, citing the brokerage. Among domestic companies, the brokerage prefers Infosys and HCL Technologies in the large-cap IT space, the report said. 

The overall demand environment for the sector remains stable but lacks clear evidence of a rebound, even as there is hope of a macro-led recovery, including from the interest rate cuts by the US Federal Reserve, the report said. Discretionary spending is "decent" mostly in the banking, financial services, and insurance segment, but those in other segments are still relatively muted, Citi said. 

The brokerage suggests monitoring the disruption in demand as there is still uncertainty over the revival of discretionary spending in IT and as demand for the sector remains slower compared to historical levels. It remains neutral on the US IT sector and prefers multinational IT services and consulting company Capgemini in the European IT sector. 

At 1000 IST, the Nifty IT index was down around 1% at 38047.25 points, with all of its constituents trading in the red, down 0.4-1.9% lower. The sectoral index fell after rising for three straight sessions in which it gained 1.6%. All major indices in the US closed lower Monday as artificial intelligence-related stocks continued to weigh down markets. The tech-heavy NASDAQ Composite closed 0.6% lower Monday.  (Arya S. Biju)

Equity Alert: Indices open lower Tue, tracking losses in global equity mkts

MUMBAI--0945 IST--Benchmark equity indices opened lower Tuesday, tracking overnight losses on Wall Street and a decline in other major global equity markets. Information technology and financial services stocks were the hardest hit in the opening minutes of trade. The rupee continued to tumble and hit a new record low at INR 90.82 per dollar. Barring the Nifty FMCG, all other sectoral indices were in the red and the broader market indices fell more than their benchmark peers.

At 0942 IST, the Nifty 50 was at 25928.40 points, down 98.90 points or 0.4%. The BSE Sensex was at 84870.03 points, down 343.33 points or 0.4%. A near 3% fall in shares of Eternal was a major drag on the Nifty 50. Meanwhile, Bharti Airtel led the handful of advancing stocks and its shares rose over 1% after global brokerage Morgan Stanley raised its target price on the stock by 20%.

Most financial services and bank stocks were down and shares of Bajaj Finserv, Jio Financial Services, and Axis Bank declined 0.7-2.5%. Among index heavyweights, shares of ICICI Bank and HDFC Bank fell 0.2-0.5%. IT stocks Infosys, Tech Mahindra, Wipro, and Tata Consultancy dropped 0.5-1%, mirroring a decline in technology stocks on Wall Street, which slumped on scepticism around artificial intelligence trade.

However, fast-moving consumer goods companies defied the market's downward trajectory and shares of Tata Consumer Products rose almost 1%. Nestle eked out a small gain. Shares of Godrej Consumer Products, Marico, and Britannia Industries were 1-2% higher. The Nifty FMCG index was 0.3% higher.

In the Nifty 200, BSE declined almost 2% while Supreme Industries led the pack of gainers in the index and was up almost 3%. In the Nifty 500 index, shares of Tata Teleservices rose more than 8% after declining for the previous four sessions. Meanwhile, Transformers and Rectifiers was down nearly 5% and it was the worst performing stock on the Nifty 500 index.  (Eshitva Prakash)

Equity Alert: Bajaj Auto plans pdt launches to gain mkt share, says Motilal Oswal

MUMBAI--0903 IST--Bajaj Auto is planning several product launches to regain the lost share in the domestic motorcycle market, according to Motilal Oswal Financial Services analysts who met the company's management. Recently, Bajaj Auto's market share loss has been a major concern among investors, the brokerage said.

The company's maket share in the motorcycle segment has came down to 16% so far this financial year from 18.5% in 2019-20 (Apr-Mar), according to the brokerage. To regain the lost market share, Bajaj Auto plans to launch a new 125cc cummuter motorcycle in FY27. The company is also likely to launch one variant of Pulser in December and two other variants of Pulser in March and May next year.     

The management indicated it may launch a product under the Dominar brand and another product in 350cc segment is in the pipeline under the Triumph brand. It is also aiming to benefit from its acquistion of KTM sometime from the second half of 2026. For the first six months of the next year, the management will be busy with restructing the core operations after the acquistion of KTM business. "The company would plan to exit the bicycle business, cars, and other smaller brands and focus on the KTM and Husqvarna brands," the brokerage said.

While the company is planning to arrest the fall in domestic motorcycle market share, the brokerage was still cautious over these plans. Motilal Oswal maintained its neutral rating on the stock with a target price of INR 9,070 per share. Monday, shares of Bajaj Auto closed at INR 8,940 per share, down nearly 1%.

The company was positive on the export business with a ramp-up in Brazil and Mexico operations likely to help sustain momentum in the export markets. "While the demand momentum is likely to remain strong in exports, the recent currency depreciation will also provide a margin cushion for the company in the current quarter," the brokerage said.

The brokerage said its electic vehicle business is expected to drive qrowth in the coming quarters. The Chetak has already gained significant market share over the past two years, the brokerage. The company is planning to launch another model of the Chetak next year.  (Anshul Choudhary)

Equity Alert: Morgan Stanley ups Bharti Airtel price aim 20%, keeps 'overweight'

MUMBAI--0835 IST--Brokerage Morgan Stanley has raised its target price for Bharti Airtel by around 20% to INR 2,435, while maintaining its 'overweight' rating on the stock, CNBC-TV18 said in a post on 'X', citing the brokerage. The revised target price indicates a potential upside of nearly 18% from Monday's close. Shares of Bharti Airtel closed nearly 1% lower at INR 2,069.70 on the National Stock Exchange on Monday.

In the medium term, the brokerage expects multiple levers to drive growth in the telecom major's average revenue per user to mid single digits. This would in turn support double-digit growth in earnings before interest, tax, depreciation, and amortisation for the company's India business, CNBC-TV18 said, citing Morgan Stanley. The brokerage also expects a sustained improvement in Bharti Airtel's return ratios, with return metrics likely to move above 20%.

The brokerage said it expects the ongoing industry repair phase in the Indian telecom sector to continue in the near term. It further said that it expects a tariff hike in the first quarter of 2026–27 (Apr-Mar). According to the brokerage, the stock is likely to start factoring in expectations of higher tariffs over the coming months, even ahead of the actual hike. 

Of the 16 brokerage reports on the company available with Informist, 15 have a 'buy' or equivalent rating on the stock with an average target price of INR 2,113 and the remaining one has a 'reduce' rating on the stock with a target price of INR 2,125.  (Arya S. Biju)

Equity Alert: Asian indices opens lower tracking global cues  

MUMBAI--0812 IST--Most Asian indices opened in the red, tracking the sell-off in the artificial intelligence stocks on the Wall Street. Major AI players in the US, such as Oracle and Broadcom, fell over 5% and 2%, respectively, and Microsoft also saw some losses. Japan's Nikkei 225 fell 1.29% in early trade and Hong Kong's Hang Seng Index fell 1.50%.

Basic materials and real estate stocks were the major drag on Japan's Nikkei. Flash purchasing managers index numbers from S&P Global showed that the business activity in Japan for December is expected to be lower than November. The figures came in at 51.5 compared with 52 in November. For Australia, business activity expanded at a slower pace, with the composite PMI falling to 51.5 in December from 52.6 in the previous month, CNBC reported. 

South Korea's Kospi fell 1.6% as shares of Korea Zinc plummeted as much as 11.2% after the company reportedly agreed to sell $1.9 billion of shares of a joint venture controlled by the US government and unnamed US-based strategic investors, Reuters reported. 

Following were the levels of key Asian indices at 0744 IST:

(Adhithya Aji)

Equity Alert: Indices seen opening flat amid negative global cues

MUMBAI--0810 IST--Domestic headline indices are expected to open largely flat amid negative global cues. Most Asian indices were lower in early trade, tracking overnight losses on Wall Street. All major indices in the US closed lower Friday as artificial intelligence-related stocks continued to weigh down markets. However, domestic indices may not see a big sell-off as the country does not offer any major AI-related opportunities.

The S&P 500 and Dow Jones Industrial Average index ended slightly lower Monday after opening the session in positive territory as key stocks related to artificial intelligence continued to be under selling pressure. Investors turned away from artificial intelligence stocks, especially those related to AI infrastructure, and instead moved to areas more sensitive to the economy, such as consumer discretionary, industrials, and healthcare, CNBC reported. The tech-heavy Nasdaq Composite index closed nearly 1% lower at 23057.413 points. 

In Asia, most equity indices opened on a weak note, down 0.1-1.6%. South Korea's Kospi, Hong Kong's Hang Seng Index, Japan's Nikkei 225 Day, and Taiwan's Topix First Section were down around 1-2%. 

The GIFT Nifty contracts suggest the Nifty 50 may open either flat or with minor gains. At 0808 IST, the December contract of the GIFT Nifty was trading at 26038.50 points, just a few points above the Nifty 50's close on Monday. The Nifty 50 ended Monday's session at 26027.30 points, down 0.1%.

"The Nifty index is trading close to price and trendline resistance of 26060 spot levels. Cross and sustenance above the same might take it up to 26200 spot levels in near term," Vipin Kumaar, derivatives and technical analyst at Globe Capital Market, said. He expects the 50-stock index to move sideways by the time it is trading below 26060 levels. "Options data has turned slightly positive with intraday supports in 25950-25875 spot levels and resistance around 26130 spot levels," Kumaar added.  (Arya S. Biju)

Equity Alert: US indices end lower ahead of key econ data report

MUMBAI--0737 IST--US indices ended lower as investors braced for key economic data reports that are due this week. The S&P 500 ended slightly lower Monday as some artificial intelligence stocks came under pressure. Investors opted for more sensitive areas to the economy, such as consumer discretionary and industrials. They also had positive optimism on healthcare shares. This came after the tech-heavy index Nasdaq and the S&P 500 finished the Friday session lower. 

Shares of Broadcom and Oracle declined more than 5% and 2%, respectively. Other tech majors such as Microsoft also suffered some losses, CNBC reported. On a weekly basis, the Dow Jones, which is less exposed to tech and AI stocks, rose 1.42% whereas the S&P 500 and the Nasdaq declined 0.44% and 2.07% respectively.

The economic data reports such as non-farm payrolls for November and October retail sales, due this week, could set the tone for the market. Economists forecast the non-farm payroll data to show addition of 50,000 jobs November, significantly lower than 119,000 jobs added in September, as per the CNBC report. Both these data reports will be released Tuesday. These reports were delayed due to the US government shutdown that took place earlier.

Following are the closing levels of US indices Monday:

(Adhithya Aji)

US$1 = INR 91.03

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.