Equity Alert
Shares of Waaree Energies down after CEO resigns
This story was originally published at 10:48 IST on 30 December 2025
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Equity Alert: Shares of Waaree Energies down after CEO resigns
MUMBAI--1040 IST--Shares of Waaree Energies were down after the resignation of the company's chief executive officer, Amit Paithankar. At 1037 IST, shares of the company were trading nearly 2% lower at INR 2,930 on the NSE, after hitting a low of INR 2,926.10.
Amit Paithankar, whole-time director and chief executive officer of the company, stepped down on Monday to pursue opportunities outside the organisation. He will be relieved of his duties with effect from May 15. Jignesh Rathod, current director of operations, will take over as chief executive officer from May 16, Waaree Energies informed exchanges.
Shares of the company have been trading lower for the last fourth straight sessions and shed 5.5% during this period. So far Tuesday, nearly 179,000 shares of the company have changed hands on the NSE, higher than nearly 87,000 shares traded till the same time Monday.
Of the five brokerage recommendations available with Informist on the company, four have a 'buy' recommendation with an average target price of INR 4,244 and the remaining one has a 'sell' recommendation. (Arundathi A R)
Equity Alert: Gujarat Kidney lists at INR 120, over 5% premium to issue price
MUMBAI--1025 IST--Shares of Gujarat Kidney and Super Speciality listed at INR 120 on the National Stock Exchange, at an over 5% premium to its issue price of INR 114. At 1007 IST, the stock was slightly off its highs, but still nearly 3% higher from the issue price. Over 11 million shares of the company have changed hands on the exchange so far in the day.
The initial public offering of the company closed on Wednesday and was subscribed 5.21 times as of the final day, with the company receiving bids for 68.97 million shares, against the 13.23 million shares on offer. The offer comprised of only a fresh issue of 22 million shares. Ahead of the offer, the company raised INR 1 billion from anchor investors by allotting 8.77 million shares at INR 114 per share, according to data on the BSE website.
Gujarat Kidney is one of the regional healthcare companies located in the central region of Gujarat. It operates a chain of mid-sized multispecialty hospitals, providing integrated healthcare services, with a focus on secondary and tertiary care. The company had reported net profit of INR 48.45 million for the June quarter on revenue of INR 152.60 million. (Eshitva Prakash)
Equity Alert: Shriram Finance rises 2?ter upgrade by CARE Ratings
MUMBAI--1015 IST--Shares of Shriram Finance rose over 2% to a high of INR 976.85 after CARE Ratings upgraded the credit rating for the non-banking financial company's non-convertible debentures amounting to INR 23.69 billion to "AAA" from "AA+". The rating agency also upgraded the company's subordinated debt issue of INR 1.56 billion to "AAA" from "AA+", maintaining a "stable" outlook. It cited the company's operational and financial performance in 2024–25 (Apr-Mar) and the September quarter of FY26, as well as the possible impact of this on the lender's credit profile as reasons behind the revision.
Backed by the credit rating upgrade, the cost of funds is likely to ease, which would make the development margin more accretive for Shriram Finance, according to ICICI Securities. The improved funding profile of the non-banking financial company should support stronger return ratios and give incremental upside to valuations over the medium term, the brokerage added.
The stock has gained nearly 14% in the last 30 days and over 57% in the last 90 days. The stock has seen gains of nearly 66% in the last 52 weeks.
At 0955 IST, shares of Shriram Finance were up 1.5% at INR 969.50, with 2.37 million shares traded on the National Stock Exchange. The volume of shares traded is over three times the volume of shares traded till the same time on Monday.
Of the 19 brokerage reports available on the non-banking financial company with Informist, 17 have a 'buy' recommendation with an average target price of INR 894. The remaining two have 'hold' recommendations on the stock. (Akshat Saksena)
Equity Alert: Indices open lower tracking losses in global equity indices
MUMBAI--1010 IST--Domestic benchmark indices opened a tad lower Tuesday, taking cues from global markets. At 0932 IST, the Nifty 50 index was at 25886.65, down 55.45 points or 0.2% and the BSE Sensex was at 84502.36, down 193.18 points or 0.2%. Indices in the US ended lower on Monday due to a sell-off in technology stocks, and Asian markets also opened lower.
Shriram Finance snapped a two-day losing streak after CARE Ratings upgraded the credit rating of the company's non-convertible debentures amounting to INR 23.69 billion to "AAA" from "AA+" while maintaining a "stable" outlook. The stock was up over 1% and was the top gainer in the Nifty 50 index. Hindalco Industries rose nearly 1?ter the company said its arm AV Minerals would subscribe to 5 million common shares of Novelis Inc. for $750 million at a price of $150 per share.
Eternal was among the worst hit in the 50-stock index after media reports said the company's quick-commerce entity Blinkit's chief financial officer, Vipin Kapooria, had resigned. The stock was down over 1%.
Most automobile stocks gained, with shares of Mahindra & Mahindra, Bajaj Auto, Tata Motors Passenger Vehicles, and Maruti Suzuki India up 0.5-1%. Hero MotoCorp rose nearly 2% to be the top gainer in the Nifty 200 index. Among sectoral indices, Nifty Auto was up nearly 1% with most of the constitients trading with gains.
Most infornation technology companies were in the red, with Infosys, HCL Technologies, and Tata Consultancy Services down 0.1-0.4%. On Monday, indices in the US fell due to losses incurred by technology stocks such as Oracle and Meta Platforms which fell around 1%.
Among other stocks, Hindustan Copper rose for the eighth consecutive session, up 6% and the top gainer in the Nifty 500 index. Nuvama Wealth Management was the worst hit in the index, down over 5%. (Adhithya Aji)
Equity Alert: Brokerages positive on defence cos; govt OKs INR-790-bln deals
MUMBAI--1005 IST--Domestic brokerages are positive about the Defence Acquisition Council clearing proposals worth INR 790 billion of defence procurement, and see public sector undertakings and private defence sector players gaining from these. At 1001 IST, the Nifty India Defence index was down 0.5% at 7688.90 points. The index has declined 1% in the last 7 days.
The Defence Acquisition Council Monday accorded Acceptance of Necessity for these proposals. This provides strong multi-year order visibility, supports higher localisation and private-sector participation, and improves execution and earnings visibility for domestic defence manufacturers, according to brokerage Prabhudas Lilladher. Over the past nine months, the defence council has approved acceptance of necessities aggregating to INR 3.30 trillion across the Army, Navy and Air Force. The approvals underscore a defence capital expenditure upcycle and the government's continued push towards indigenisation, the brokerage said.
While the approvals do not immediately translate into order inflows, the scale of the approvals assures order inflows for key defence public sector undertakings and select private players over the next two to four years, according to Motilal Oswal Financial Services.
Orders for radar systems, drone detection, high-frequency software-defined radio communications equipment, and the electronics portion of other defence systems are expected to benefit Bharat Electronics, according to Motilal Oswal Financial Services. Bharat Dynamics is well-positioned to gain from guided rocket ammunition, missile system production, and other munitions and missiles that fall under its manufacturing scope, according to the brokerage. The approvals also include long-range guided rocket ammunition for Pinaka, and Astra Mk-II missile, which should mainly benefit Bharat Dynamics and Bharat Electronics, according to Prabhudas Lilladher. Other approvals across drones, radars, naval and Indian Air Force platforms provide incremental opportunities for a wider set of domestic defence players, the brokerage said.
Additionally, private players such as Tata Advanced Systems, Zen Technologies, and Astra Microwave could see increased participation for components and fully integrated products such as full mission simulators and SPICE-1,000, Motilal Oswal said. The brokerage also sees procurement of bollard pull tugboats and allied marine support vessels as a positive for shipyards such as Mazagon Dock Shipbuilders, Cochin Shipyard, and Garden Reach Shipbuilders & Engineers.
Hindustan Aeronautics is Prabhudas Lialladher's top pick in the defence sector, owing to the start of GE F-404 engine deliveries to support light combat aircraft Tejas Mk1A and procurement of an additional 97 Tejas MkA1 aircraft, adding INR 620 billion to the company's order book. The brokerage said the company's order book is "robust" at around INR 2.5 trillion, which is expected to keep its factories occupied for the next decade. Indian Air Force's current fleet of fighter aircraft is planned to be phased out in the next decade, replacing them with advancing next-generation platforms such as Tejas Mk2, AMCA, and GE-414, further bolstering the company's long-term prospects.
The Defence Acquisition Council has extended the current emergency procurement window for the Army, Navy, and Air Force until Jan. 15, allowing them to continue to fast-track purchases of critical weapons, platforms, and equipment to meet urgent operational needs, according to Motilal Oswal. The brokerage added that emergency procurement announcements over the next 2–3 weeks will be keenly watched. Hindustan Aeronautics could see orders tied to HALE RPAS, Astra Mk-II missile integration, and full mission simulator production for platforms like Tejas aircraft. (Eshitva Prakash)
Equity Alert: CLSA cuts Dixon Tech target price 16%, retains outperform call
MUMBAI--0955 IST--Global brokerage CLSA has reduced its target price on Dixon Technologies by around 16% to INR 15,880 a share, citing near-term weakness. The brokerage has, however, retained its 'outperform' call on the stock due to visibility of a medium-term recovery, which is expected to support the company's prospects, media reports said, citing the brokerage. At 0951 IST, the stock was up 0.2% at INR 11,880 on the National Stock Exchange.
The brokerage expects Dixon Technologies' revenue to remain flat on a year-on-year basis and decline on a sequential basis in the December quarter, paving the way for a cut in the FY26 guidance, CNBC-TV18 reported, citing the brokerage. Dixon's near-term growth trajectory looks clouded, given tapering smartphone sales in India and losses in market share for its key customers, CLSA said. "Interactions with investors also indicate concerns around regulatory approvals, which will be key to watch," the report said.
Further, CLSA has trimmed the company's earnings per share estimates for 2025–26 (Apr-Mar) and FY27 by 16% and 17% on account of lower volumes and margin delay, NDTV Profit reported, citing the brokerage. However, it remains bullish on Dixon Technologies in the long term and has kept its FY28 earnings per share estimates unchanged, stating that recovery is expected over time. A key factor that may aid the recovery is margin improvement through backward integration, especially in the smartphone division, the report said.
Of the 16 research reports on the company available with Informist, 12 have a 'buy' or equivalent recommendation on the stock with an average target price of INR 17,724 apeice. Of the remaining four, two have a 'hold' recommendation and the rest have a 'reduce' call on the stock. (Arya S. Biju)
Equity Alert: Indices seen down for 4th session, volatile on monthly expiry
MUMBAI--0819 IST--Headline equity indices in India are likely to fall for the fourth consecutive session Tuesday, tracking overnight losses in the US indices, amid lack of positive triggers. Several factors such as the depreciating rupee, delay in a US-India trade deal, and foreign investment outflows continue to affect Indian equities.
The near-term outlook remains bleak as market participants expect some volatility on the expiry of the monthly contract of Nifty 50 derivatives. The Nifty 50 ended 0.4% lower on Monday at 25942.10 points. The GIFT Nifty's December contract suggests a negative start for the market as it is 23 points lower than the Nifty 50's previous close.
The 50-stock index is expected to face strong resistance at 26000-26050 points and a sustained close above this level will open the path for the index to hit new record highs in the near term, analysts said. Immediate support for the index is pegged at 25875–25850 points, Vipin Kumaar, derivatives and technical analyst at Globe Capital Market, said.
Options data suggests a negative outlook for the Nifty 50, and also shows slightly oversold positions, which hints towards a sell-on-rise strategy for market participants, he said. Technical and derivative analysts expect a minor bounceback due to short-covering on Tuesday, especially if the index manages to hover above the 25900–25860 support band.
Benchmark indices on Wall Streetclosed lower on Monday as heavyweight information technology stocks retreated after last week's gains, which had pushed the S&P 500 to record highs. Asian markets were mostly negative Tuesday, after the IT selloff on Wall Street continued on fears of an artificial intelligence bubble.
Back home, Gujarat Kidney and Super Speciality Ltd. is set to list on bourses Tuesday. The company has set the issue price at INR 114 per share. (Simran Rede)
Equity Alert: Asian indices down, tracking tech sell-off on Wall Street
MUMBAI--0815 IST--Asian equity indices were broadly lower, tracking a fall in technology stocks on Wall Street. Investors will look out for developments on China's military excercises around Taiwan. The Chinese military dispatched troops around the island on Monday. Japan's Nikkei 225 index was down for the second consecutive session, shedding 1% during this period.
Shares of Softbank Group Corp. fell 2?fore paring some of the losses after the group announced a deal to buy data centre investment firm DigitalBridge for $4 billion as part of its artificial intelligence push, CNBC reported. Shares of DigitalBridge rose about 10?ter the announcement, the CNBC report said. The Taiwan weighted index was down, with major technology stocks such as Taiwan Semiconductor Manufacturing Co. and Hon Hai Precision Industry Co suffering losses. Shares of Taiwan Semiconductor Manufacturng were down over 0.7% and those of Hon Hai Precision were down over 1%.
Investors are expected to track minutes of the US central bank's December meeting, due in the early hours of Wednesday, India time. They will also track US home price data due late evening on Tuesday, India time.
Following were the levels of key Asian indices at 0815 IST:
|
Level |
Last |
Change in % |
| IDX Composite |
8605.449 |
(-)0.45 |
|
S P/ ASX 200 INDEX |
8714.10 |
(-)0.13 |
|
TAIEX |
28657.18 |
(-)0.53 |
|
SSE Composite Index |
3962.2356 |
(-)0.08 |
|
Nikkei 225 Day |
50428.31 |
(-)0.20 |
|
KOSPI |
4212.96 |
(-)0.18 |
|
CSI 300 Index |
4633.0242 |
(-)0.14 |
(Akshat Saksena)
Equity Alert: US indices close lower Mon on fall in technology stocks
MUMBAI--0737 IST--US equity indices ended lower Monday due to a fall in technology stocks. This comes after the S&P 500 hit an all-time high of 6945.770 points on Friday after rising for five straight sessions, during which it gained over 3%. However, the index closed lower on Friday and Monday. Similarly, the Nasdaq Composite rose for five straight sessions before ending lower on Friday and Monday.
Artificial intelligence stocks such as Nvidia, Palantir Technologies, Meta Platforms and Oracle suffered losses. Shares of Nvidia fell over 1%, after the 5% gains it saw last week, according to a report by CNBC. Palantir Technologies fell over 2% during the session and shares of Meta Platforms and Oracle fell around 1?ch. "Given this week's light economic calendar, internal momentum could be the main market storyline this week," said Chris Larkin, head of trading and investing at E-Trade from Morgan Stanley, according to the CNBC report. "If stocks are going to close out another year of double-digit gains on a high note, they'll likely need tech to do much of the heavy lifting," Larkin added.
Shares of Tesla fell 3.3?ter hitting a record high the previous week, according to a Reuters report. The fall seen by the stock weighed on the S&P 500 Consumer Discretionary (Sector). The S&P 500 Materials (Sector) fell due to a fall in prices of precious metals, with silver falling sharply after crossing $80 per ounce for the first time. Bank stocks pulled back after a strong rally this year, with shares of Citi Bank falling 1.9%. The stock has risen 68% this year after the bank took steps to address compliance issues. Energy stocks gained almost 1% due to a 2% rise in oil prices, according to a Reuters report.
The market is in the middle of a Santa Claus rally, a period between the last five trading days of the year and the first two trading days of the new year, during which the S&P 500 has seen a gain of more than 1% on average since 1950 according to the Stock Trader's Almanac, CNBC reported. Investors will await minutes of the US central bank's December meeting, due in the early hours of Wednesday, India time.
Following are the closing levels of US indices Monday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6905.74 |
(-)0.35 |
|
NASDAQ Composite |
23474.349 |
(-)0.50 |
|
Dow Jones Industrial Average |
48461.93 |
(-)0.51 |
(Akshat Saksena)
US$1 = INR 89.96
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Nishant Maher
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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