Equity Alert
ICICI Pru AMC lists at INR 2,600, 20% premium to issue price
This story was originally published at 12:08 IST on 19 December 2025
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Equity Alert: ICICI Pru AMC lists at INR 2,600, 20% premium to issue price
MUMBAI--1157 IST--Shares of ICICI Prudential Asset Management Co. rose over 23% soon after listing on bourses. The stock was listed at INR 2,600 on the National Stock Exchange, a premium of 20% to the issue price of INR 2,165 per share. At 1147 IST, the stock was up over 19% at INR 2,585.60.
The company's initial public offering, which closed Tuesday, was subscribed over 39 times, with the company receiving bids for 1.37 billion shares, against 35.02 million shares on offer. Ahead of the offer, the company had raised INR 30.22 billion from anchor investors by allotting 13.96 million shares at INR 2,165 per share.
ICICI Prudential Asset Management Co. is the largest asset management company in India in terms of active mutual fund quarterly average assets under management. In addition to its mutual fund business, it also has a growing alternates business comprising portfolio management services, management of alternative investment funds and advisory services to offshore clients. The company had reported a net profit of INR 16.18 billion for the six months ended Sept. 30 on revenue of INR 29.49 billion. (Arya S. Biju)
Equity Alert: Shares of pharma cos up after US president signs Biosecure Act
MUMBAI--1120 IST--Shares of pharmaceutical companies were up after US President Donald Trump signed the 2025-26 (Apr-Mar) National Defence Authorisation Act, which includes the Biosecure Act. into law. Global brokerage Macquarie expects the legislation to accelerate growth for Indian contract development and manufacturing organisations as US companies try to reduce drug production dependency on China.
Shares of Laurus Labs rose over 3% to an all-time high of INR 1,048.9. The stock extended gains to the third straight session. At 1020 IST, shares of the company traded nearly 3% higher at INR 1,041.60 on the National Stock Exchange. Over 1 million shares of the company changed hands on the NSE, higher than nearly 131,000 shares traded till the same time Thursday. Of the 10 brokerage recommendations available with Informist on the company, eight have a 'buy' recommendation with an average target price of INR 691. The company has one 'hold' recommendation and one 'sell' recommendation.
Gland Pharma was up for the second straight session, rising almost 2% at a high of INR 1,697.80. At 1024 IST, shares of the company traded over 1% higher at INR 1,685.80 on the NSE. Over 21,000 shares of the company changed hands on the NSE, higher than over 19,000 shares traded till the same time Thursday. Of the 10 brokerage recommendations available with Informist on the company, four have a 'buy' recommendation with an average target price of INR 2,255. Four brokerages have a 'hold' recommendation and the remaining two have a 'sell' recommendation on the stock.
Biocon was up for the third straight session, gaining over 4% during this period. It rose over 2% to a high of INR 401.45. At 1029 IST, shares of the company were up over 2% at INR 400.30 on the NSE. Nearly 2 million shares of the company changed hands on the NSE, slightly higher than the shares traded till the same time Thursday. Of the 12 brokerage recommendations available with Informist on the company, nine have a 'buy' recommendation with an average target price of INR 422 and the remaining three have a 'sell' recommendation on the stock.
Shares of Onesource Specialty Pharma were up for the third straight session and gained 7% during this period. They rose 4.5% to a high of INR 1,708. At 1038 IST, shares of the company traded 4% higher at INR 1,700 on the NSE. Over 79,000 shares of the company changed hands on the NSE, higher than over 9,000 shares traded till the same time Thursday. Both the brokerage recommendations available with Informist on the company have a 'buy' recommendation.
Divis Laboratories rose over 3% to a high of INR 6,598 and the stock was up for the second straight session. At 1042 IST, shares of the company traded over 2% higher at INR 6,532 on the NSE. Nearly 355,000 shares of the company changed hands on the NSE, higher than over 93,000 shares traded till the same time Thursday. Of the 16 brokerage recommendations available with Informist on the company, eight have a 'buy' recommendation with an average target price of INR 6,762. Six have a 'sell' recommendation with an average target price of INR 5,316 and the remaining two have a 'hold' recommendation on the stock. (Arundathi A R)
Equity Alert: Heavyweights keep indices higher; HCL Tech, Hindalco cap gains
MUMBAI--1115 IST--Benchmark indices remained higher, supported by gains in index heavyweights and select technology companies. The rupee, whose weakness has been a concern for traders after it slid to its lowest levels against the dollar Tuesday, appreciated for the third consecutive session. In the broader market, smallcap indices outperformed midcap indices.
At 1130 IST, Nifty 50 was at 25928.45 points, up 112.90 points or 0.4%. The BSE Sensex was at 84877.04 points, up 395.23 points or 0.5%. Max Healthcare Institute, index heavyweight Reliance Industries, and Bharat Electronics were the top gainers in the session, up around 2?ch. On other hand, Shriram Finance, Hindalco Industries, and HCL Technologies declined around 1?ch and capped market gains. Shares of index heavyweight HDFC Bank rose 0.4%.
Shares of InterGlobe Aviation, which had risen for six consecutive sessions, traded flat. The Competition Commission of India Thursday said that it has taken cognisance of a complaint filed against IndiGo airline following recent flight disruptions and has decided to proceed as per provisions of the Competition Act, 2002.
Among other stocks, Vodafone Idea rose almost 4%. The brokerage CLSA has said that the centre is likely to consider a partial waiver of interest, penalties, and interest on penalties for Vodafone Idea, which make up a bulk of its adjusted gross revenue dues. Meanwhile, shares of select asset management and capital markets companies that had risen sharply in the previous session were lower. HDFC Asset Management Co., Motilal Oswal Financial Services, and Nippon Life India Asset Management declined 2–3%.
Smallcap indices outperformed their midcap count. The Nifty Smallcap 250 index rose 0.7% with Asahi India Glass, Anant Raj, and Akums Drugs and Pharmaceuticals advancing 1-2% higher. Among the Nifty Midcap 150 index, which rose 0.4%, Apollo Tyres, Ajanta Pharma, and Bharat Forge were 1-2% higher. (Eshitva Prakash)
Equity Alert: Vodafone Idea up around 4%; arm raises INR 33 bln via NCDs
MUMBAI--1105 IST--Shares of Vodafone Idea rose around 4% to a high of INR 11.72 after the debt-laden company said its wholly-owned subsidiary Vodafone Idea Telecom Infrastructure has raised INR 33 billion through issuance of non-convertible debentures. At 1052 IST, the stock was up around 3.5% at INR 11.69 and was among the top gainers on the Nifty 200.
The proceeds from this issue will be utilised by Vodafone Idea Telecom Infrastructure to repay its payment obligations to the parent company Vodafone Idea. This will enable Vodafone Idea to bolster its capital expenditure and support business growth, it said in an exchange filing Thursday.
"This fresh fund raise reinforces investor confidence in our strategy and long term vision. This capital strengthens our momentum as we continue to scale our network and enhance services for our customers," Chief Executive Officer of Vodafone Idea Abhijit Kishore said in the filing. The telecommunications major also said that discussions relating to long-term debt raising to support capital expenditure are ongoing with banks.
The stock rose for the second straight session and has gained 0.6% in this period. So far in the day, over 402 million shares have changed hands on the National Stock Exchange, higher than the 339.53 million shares traded till the same time Thursday. Out of the eight brokerage reports on the stock available with Informist, three have a 'sell' or equivalent recommendation, three have a 'hold' or equivalent recommendation, and the remaining two have a 'buy' call on the stock. (Arya S. Biju)
Equity Alert: Indices remain up; contract development and mfg firms surge
MUMBAI--1015 IST--Benchmark indices remained higher but were slightly off their intraday highs attained in the early minutes of trading. A clear majority of Nifty 50 constituents were trading higher and index heavyweights advanced, supporting the Nifty 50. Healthcare-related stocks, especially those of domestic contract development and manufacturing organisations, surged after US President Donald Trump signed the National Defence Authorisation Act into law, which includes the Biosecure Act. This law will bar certain Chinese biotechnology companies from receiving US federal funds, which is likely to aid Indian contract development and manufacturing organisations.
At 1016 IST, the Nifty 50 was at 25936.95 points, up 121.40 points, or 0.5%. The BSE Sensex was at 84916.51 points, up 434.70 points, or 0.5%. Max Healthcare was the biggest gainer in the 50-stock index and rose more than 2%. Shares of Bharat Electronics were up nearly 2?ter falling for three consecutive sessions. The Nifty Healthcare index and the Nifty Pharmaceutical index rose 1%. Index heavyweights HDFC Bank and Reliance Industries rose 0.6% and 1.3%, respectively.
Shares of contract development and manufacturing organisation Divis Laboratories rose more than 3%. Shares of other such companies such as Laurus Labs and Piramal Pharma rose over 1% and 4%, respectively. According to global brokerage Macquarie, Divi's Laboratories is the front-runner, in terms of capacity creation, to benefit from the US Biosecure Act, considering that the company has a strong track-record of regulatory clearances and robust purification capabilities.
Among other Nifty 200 and Nifty 500 companies, shares of Ola Electric Mobility jumped almost 9?ter the company said its founder, Bhavish Aggarwal, had sold a part of his shares in order to release all 3.93% shares that were previously pledged, bringing the promoter's pledge in the company to zero. Meanwhile, LTIMindtree shares lost over 2% in the 200-stock index and those of Nippon Life India Asset Management declined over 3%, after gaining sharply in the previous session.
In the broader market, small-cap indices performed better than their benchmark peers and mid-cap indices. The Nifty Smallcap 250 Nifty Midcap 150 index rose 0.6% and 0.3% respectively. (Eshitva Prakash)
Equity Alert: BLS International up 7%; HC sets aside govt order against co
MUMBAI--0953 IST--BLS International Services rose over 7% to an intra-day high of INR 340. This comes after the Delhi high Court set aside the order from the Ministry of External Affairs that barred the company for a period of two years from participating in future tenders of the ministry and Indian missions abroad. The stock has performed well on a monthly basis, rising over 1% in December so far and 3.5% in the past 30 days. However, the stock has fallen nearly 6% in the past 180 days and nearly 9% in the past 90 days, losing over a third of its value in the last 52 weeks.
The Delhi High Court rejected the ministry's argument accusing BLS International of resorting to litigation against the lowest bidder to scuttle and postpone the tender process in those territories where it did not become the incumbent operator. The legal proceedings by the company, even if directed against the successful lowest bidders in different tenders, cannot by itself constitute "anti-competitive behaviour" to justify a severe measure such as debarment, the court said.
At 0953 IST, BLS International was up nearly 7% at INR 337.50 and nearly 5.6 million shares of the company changed hands on the National Stock Exchange, over 20 times higher than the shares traded till the same time on Wednesday. Both the research reports on the company available with Informist have a 'buy' recommendation with an average target price of INR 475. (Akshat Saksena)
Equity Alert: Ola Electric up 9% at INR 34.2, snaps three-day fall
MUMBAI--1008 IST--Shares of Ola Electric Mobility rose over 9% to a high of INR 34.19. The stock rose after falling for three consecutive sessions, during which it shed over 16%. On Thursday, shares of the company ended nearly 5% lower after touching an all-time low of INR 30.76.
At 0937 IST, shares of the company were up nearly 9% at INR 33.95. Over 66 million shares of the company changed hands, twice the number of shares traded till the same time Thursday. Over a week, the stock fell over 7%.
On Thursday, the electric two-wheeler maker's promoter, Bhavish Aggarwal, sold 0.6% stake in the company for INR 902.77 million through a bulk deal. He sold 28.30 million shares for INR 31.90 each, at an over 3% discount to the stock's closing price Wednesday. The company said this transaction was to repay a promoter-level loan of INR 2.60 billion and to release previously pledged 3.93% stake. Post this, Bhavish Aggarwal holds 34.6% stake in the company, as per an exchange filing. (Adhithya Aji)
Equity Alert: Indices open up, snapping 4-day decline; most Nifty 50 cos gain
MUMBAI--0945 IST--Indices opened higher Friday, snapping a four-day losing streak on the back of positive cues from equity markets globally and gains in domestic information technology companies and select index heavyweights. Almost all constituents of the Nifty 50 traded wih gains, and all sectoral indices were higher.
At 0935 IST the Nifty was at 25960.05 points, up 144.50 points or 0.6%. Analysts expect the Nifty 50 to move up to 26000–26050 points if it sustains above 25900 points. The BSE Sensex was at 84975.44 points, up 493.63 points or 0.6%. Shares of Max Healthcare were up 2% for the second consecutive session after its board approved the proposal to enter into a share purchase agreement to acquire 100% equity stake in Yerawada Properties for INR 2 billion. The company also said it would spend INR 10.20 billion to set up a 450-bed super speciality hospital on the land of the latter in Pune. Shares of index heavyweight Reliance Industries rose 1.4%. The fast-moving consumer goods arm of Reliance Industries–-Reliance Consumer Products–-has acquired majority stake in Udhaiyams Agro Foods.
Shares of major information technology companies such as HCL Technologies, Tata Consultancy Service, Infosys, and Wipro were up. The US consumer price index report for November showed headline annual inflation was at 2.7%, below the 3.1% expected by economists polled by Dow Jones. The softer reading boosted expectations of another interest rate cut by the US Federal Reserve, which may provide US technology companies with more discretionary spending budget, boosting prospects for Indian IT companies. Moreover, US-based IT giant Accenture's management, in a post-earnings investor call Thursday, highlighted that the pace of overall and discretionary spending was at the same level as the previous year.
Among other stocks, shares of BLS International Services rose more than 5?ter the Delhi High Court set aside the Ministry of External Affairs' order debarring the company from participating in all tenders of the ministry and Indian missions abroad for two years.
All sectoral indices were up, with the Nifty Pharma and Nifty Healthcare leading the pack, up more than 1%. The biggest gainers in the Nifty Phrama index were Wockhardt, Divis Laboratories, and Laurus Labs, which rose 3-5%. (Eshitva Prakash)
Equity Alert: Mkts may open higher as soft US CPI fuels some rate cut bets
MUMBAI--0820 IST--Domestic headline indices are expected to open higher, tracking gains in their Asian and US peers. However, the indices are seen moving in a range as concern over the weak rupee and the lingering uncertainty over the India-US trade deal continue to hurt investor sentiment.
Overnight, major indices in the US closed higher as softer inflation data for the country in November boosted expectation of interest rate cuts by the US Federal Reserve and chipmaker Micron Technology's guidance signalled strong artificial intelligence demand. The US consumer price index report for November showed that headline annual inflation was at 2.7%, below the 3.1% expected by economists polled by Dow Jones. Most Asian indices were also higher in early trade Friday mirroring their Wall Street peers. Investors now await the outcome of the Bank of Japan's monetary policy meeting, with most expecting the central bank to hike the key interest rate by a quarter-percentage point to 0.75% later in the day, amid rising concern about a repeat of the unwinding of the yen carry trade.
In the domestic market, information technology stocks will be in focus Friday after US-based IT giant Accenture's management, in a post-earnings investor call Thursday, highlighted that the pace of overall and discretionary spending was at the same level as the previous year. The company Thursday reported a 6% on-year rise in its revenue for the November quarter, led by robust demand for its managed services. Meanwhile, it has retained its sales growth guidance of 2–5% for 2026 in local currency terms amid no major change in the macroeconomic environment.
The GIFT Nifty contracts suggest the Nifty 50 may open higher. At 0753 IST, the December contract of the GIFT Nifty traded at 25954 points, more than 138 points above the Nifty 50's close on Thursday. The Nifty 50 ended largely flat at 25818.55 points on Thursday. Meanwhile, the short-term chart structure is sideways with negative bias, having immediate supports for Nifty 50 seen around 25700 points and resistance around 26050 spot levels, Vipin Kumaar, derivatives and technical analyst at Globe Capital Market, said. "Cross and sustenance above 26050 (points) might take it (Nifty 50) up to 26200 spot levels in the near term, on the flip side, a close below 25700 spot levels might push it around 25450 spot levels," he said.
On Thursday, foreign portfolio investors turned net buyers of domestic equities for the second straight day, but they continued to be mostly short on the market, according to analysts. They bought domestic equities worth INR 5.96 billion Thursday while domestic investors bought stocks worth INR 27.00 billion. (Arya S. Biju)
Equity Alert: Asian indices rise on global cues; BoJ likely to cut rates
MUMBAI--0815 IST--Asian equity indices opened higher, tracking gains in technology stocks on Wall Street. Better-than-expected inflation data from the US also boosted market sentiment. Investors are betting on a hike in interest rates by Bank of Japan. The central bank's decision is due Friday.
Japan's Nikkei rose 1% and Korea's KOSPI was up 0.5%. Market participants see a 90% chance that the central bank of Japan will raise its benchmark rate to 0.75% from the current 0.50%. Investors are waiting for more hints that could lead to another rate hike in 2026, Reuters reported. The rate hike could strengthen the yen against the dollar and contain inflation. But it could further slow a weak Japanese economy that contracted in the third quarter, CNBC reported.
Headline annual inflation in the US was 2.7%, as per data from the Bureau of Labor Statistics. This was lower than economists' forecast of 3.1%. However, analysts cautioned that the data was distorted by the government shutdown and could not be taken at face value, Reuters reported.
Following were the levels of key Asian indices at 0805 IST
|
Level |
Last |
Change in % |
| Nikkei 225 Day |
49502.36 |
1.02 |
|
S P/ ASX 200 INDEX |
8624 |
0.42 |
|
TAIEX |
27811.11 |
1.25 |
|
CSI 300 Index |
4583.99 |
0.69 |
|
TOPIX FIRST SECTION |
3385.67 |
0.86 |
|
SSE Composite Index |
3897.65 |
0.55 |
|
FTSE Singapore Strait Times |
4572.76 |
0.05 |
(Adhithya Aji)
Equity Alert: US indices end higher Thu after CPI data; S&P snaps 4-day fall
MUMBAI--0738 IST--US equity indices ended higher on Thursday, with the S&P 500 snapping a four-day losing streak as softer than expected inflation data for November heightened hopes of an interest rate cut in 2026. The delayed November consumer price index report showed headline annual inflation of 2.7%, as per the data from the Bureau of Labor Statistics. The figure was below the forecast of 3.1% from economists.
The S&P 500 ended 0.79% higher and the Nasdaq Composite ended up 1.38%. The Dow Jones Industrial Average was up 0.14%. On Thursday, computer data storage maker Micron was the top gainer in the Nasdaq Composite after the company gave a strong revenue forecast for the December quarter. The stock was up nearly 10%. The company revived artificial intelligence trade which had seen weakness in the recent sessions, as per a CNBC report.
The CPI report was pushed back from its original release date of Oct. 10. The bureau had cancelled October inflation data due to the 43-day shutdown of the US government. This meant that the reading did not have all the usual data points of a standard CPI report, CNBC reported.
The 12-month rate for core CPI, which excludes food and energy sectors, was at 2.6%, as per the data from the government agency. This is also lower than the market expectation of 3%, CNBC reported. However, due to the lack of comparable data for October, economists might not place much significance on this reading as the beginning of a downward trend in inflation. They have also raised concerns regarding the calculations for housing inflation, as per the report by CNBC.
Following are the closing levels of US indices Thursday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6774.76 |
0.79 |
|
NASDAQ Composite |
23006.36 |
1.38 |
|
Dow Jones Industrial Average |
47951.85 |
0.14 |
(Adhithya Aji)
US$1 = INR 90.18
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta
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.
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