Equity Alert
Nifty Oil and Gas ends 3% higher, closes year with 14% gains
This story was originally published at 16:00 IST on 31 December 2025
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Equity Alert: Nifty Oil and Gas ends 3% higher, closes year with 14% gains
MUMBAI--1550 IST--The Nifty Oil and Gas index hit an over one-month high of 12256.80 points on Wednesday and rose nearly 3%, the most among sectoral indices. The index settled at 12231.20 points and ended nearly 2% higher in December, while closing the year with almost 14% gains.
Shares of Nifty 50 heavyweight Reliance Industries closed almost 2% higher and was the biggest support for the index on Wednesday. Among other stocks, Gujarat Gas, Gujarat State Petronet, and Bharat Petroleum Corp. ended 4-5% higher. Hindustan Petroleum Corp. ended over 6% higher, hitting a fresh all-time high.
Every constituent of the sectoral index closed with gains. Oil prices have been volatile recently owing to rising geopolitical tensions. The US ordered its military to focus on 'quarantine' of Venezuelan oil for at least the next two months, according to a Reuters report.
In the near term, ratings agency CRISIL expects demand for gas to remain range-bound, mainly due to greater use of cheaper gas from city gas distributors. "Any upside will depend on the weather trends and relative fuel economics, particularly for price-sensitive industrial segments," CRISIL Intelligence said in a report. (Eshitva Prakash)
Equity Alert: Nifty 50 Jan ends at premium of 175.20 points to spot index
MUMBAI--1545 IST--The January futures contract of the Nifty 50 closed at a premium of 175.20 points to the spot index. Open interest in the contract rose 1.2% to 14.13 million, according to provisional data.
--Nifty 50 closed at 26129.60 points, up 190.75 points or 0.7% vs Tue
--Nifty 50 January closed at 26304.80 points, up 186 points or 0.7% vs Tue
Nifty 50 options, expiring Tuesday, with maximum change in open interest:
Call: 26400, Put: 26000
Nifty 50 options, expiring Tuesday, with maximum open interest:
Call: 26400, Put: 26000
(Gopika Balasubramanium)
Equity Alert: European indices open mixed; shares of defence cos rise
MUMBAI--1455 IST--Equity indices in Europe opened mixed for the final trading session of the year. Defence stocks were up with shares of Saab, RENK Group, and Rheinmetall up 1-3%. Shares of London-based mining company Fresnillo were among the worst performers after emerging as one of the highest gainers in the previous session.
Shares of defence companies rose for the second session, according to a report from CNBC, after Russia Tuesday accused Ukraine of launching a drone attack on a residence of President Vladimir Putin and said it would review its position in the peace negotiations. Ukraine's President Volodymyr Zelenskyy has denied the claims and, in turn, accused Russia of trying to derail the peace talks, according to a BBC report.
The Fresnillo stock was down nearly 3?ter recording a rise of 6% Tuesday. Other mining stocks Anglo American, Antofagasta, and Glencore were also among the top gainers Tuesday but avoided the fall seen by Fresnillo, according to CNBC.
Among European indices, France's benchmark CAC 40 is set to make modest gains, rising 10.2% this year. Political instability, concerns over the country's fiscal debt, and a surge in bond yields have all weighed on the performance of the French equity market, according to a report from Reuters. Germany's DAX Performance-Index is set to record gains of 23% for the year, aided as it has been by the government's economic support measures such as fiscal stimulus packages and strategic infrastructure investments. The UK's FTSE 100 index is set to gain 22%, marking its fifth consecutive year of gains.
Following were the levels of major European indices at 1453 IST
|
Index |
Level |
Change in % |
|
FTSE 100 Index |
9931.83 |
(-)0.09 |
|
DAX Performance-Index |
24490.41 |
0.57 |
|
CAC 40 |
8123.38 |
(-)0.55 |
|
FTSE MIB Index |
44944.54 |
1.14 |
| STOXX 50 | 5781.55 | (-)0.25 |
(Akshat Saksena)
Equity Alert: Vodafone Idea dn 18% from 52-wk high after govt OKs AGR relief
MUMBAI--1448 IST--Shares of Vodafone Idea plummeted Wednesday after the Union Cabinet is said to have approved a five-year moratorium in repayment of its adjusted gross revenue dues to the telecom department and froze the AGR dues at INR 876.95 billion. The AGR dues of 2017-18 (Apr-Mar) and FY19 will be payable by Vodafone Idea over the next five years, according to CNBC-TV18. After news of the AGR relief, the stock fell nearly 25% from its 52-week high hit earlier in the day.
At 1446 IST, the stock hit a lower circuit, down 15% on the NSE at INR 10.25. Nearly 2 billion shares of the company have exchanged hands so far on the National Stock Exchange. The company on Nov. 11 said it expects the issue of AGR dues to be resolved as soon as possible. Since Nov. 11 and before Wednesday's slide, the stock had risen as much as 25%.
Of the eight brokerage reports available with Informist on the company, three have a 'sell' call, three have a 'hold' call on the stock, while two brokerages have a 'buy' call. (Eshitva Prakash)
Equity Alert: Asian indices down on last day of 2025, tracking US markets
MUMBAI--1408 IST--Asian indices were mostly lower for the final trading session of the year. Investors remained cautious ahead of the New Year holidays taking cues from the fall in the Wall Street. China's CSI 300 ended nearly 0.5% lower after the country's factory activity expanded for the first time in December since March.
Trading volumes across the region remained thin due to the holiday season, according to a report from the Times of India. Commodities offered more resilience, as precious metals held their ground after retreating from record levels seen the previous week, the Times of India reported.
China's factory activity expanded for the first time in December since March, a report from CNBC said. The official manufacturing purchasing managers index rose to 50.1 in December from 49.2 in November, beating the 49.2 forecast by economists polled by Reuters. A reading above 50 indicates an expansion, the report said. Indices of both Taiwan and China ended with strong yearly gains, with a tariff truce between China and the US alleviating geopolitical risks helping China's growth, a report from South China Morning Post said. The Hang Seng index finished 28% higher in 2025, its best yearly performance since 2017 when it gained 36%. The CSI 300 index gained 18% in 2025, its highest gain since 2020, the report said.
Markets of Japan and South Korea were shut, the CNBC report said. Hong Kong's markets will re-open on Friday and those of China will remain shut for the rest of the week, South China Morning Post said. (Akshat Saksena)
Following were the levels of key Asian indices at 1408 IST:
|
Level |
Last |
Change in % |
| KOSPI |
4214.17 |
(-)0.15 |
|
Nikkei 225 Day |
50339.48 |
(-)0.37 |
|
S P/ ASX 200 INDEX |
8714.30 |
(-)0.03 |
|
IDX Composite |
8646.938 |
0.03 |
|
TAIEX |
28984.61 |
0.97 |
|
Hang Seng Index |
25630.54 |
(-)0.87 |
|
CSI 300 Index |
4629.94 |
(-)0.46 |
(Akshat Saksena)
Equity Alert: HDFC Sec recommends 'buy' on Dr Lal Path, ups target price 1%
MUMBAI--1317 IST--Brokerage HDFC Securities has upgraded its recommendation on shares of Dr. Lal PathLabs to 'buy' from 'add' and raised its target price nearly 1% to INR 1,740. The company is expected to maintain its revenue momentum on volume-led growth, which is to be driven by a steady growth in patients and sample volume on the back of its strategy to not increase the price of tests in the near term, according to a report from the brokerage. The increasing traction from its wellness segment 'Swasthfit', which increased its share in the company's overall revenue to 26.5% in Apr-Sept from 24% in 2024-25 (Apr-Mar), along with the company's portfolio innovation and expansion strategy in its core markets as well as tier 1 and tier 2 cities to expand volumes are also the reasons why the company is expected to maintain its revenue momentum. For portfolio innovation, the company has broadened its high-complexity testing in genomics, oncology, and autoimmunity, according to the brokerage.
The brokerage expects the company's growth to be driven by a combination of strengthening operations in core metro and tier-1 cities along with cluster building in the south and west regions, the brokerage said. The company is also increasing its attention towards innovation, which includes new wellness packages, and high-end super-speciality tests with a focus on capturing prescription shares. The company has put emphasis on its priority of maximising network utilisation and converting infrastructure into significant operating leverage, the brokerage said. These steps should help the company attain a stable margin of around 28.50% in the next few years.
As of September 2025, Dr. Lal PathLabs has INR 13.67 billion in cash to help focus on mergers and acquisitions with its primary focus in the south, the brokerage said. The company is looking to explore mergers and acquisitions targeting an expansion of its test offering capabilities in genomics/immunology and radiology.
At 1317 IST, shares of the company traded 1.5% higher at INR 1,479.50 on the National Stock Exhange. Nearly 97,000 shares of the company have changed hands on the bourse so far during the session, lower than the nearly 236,000 shares traded till the same time on Tuesday. (Akshat Saksena)
Equity Alert: Punjab & Sind Bk up 6% in 2 sessions, bk mulls INR-30-bln QIP
MUMBAI--1310 IST--Shares of Punjab & Sind Bank rose over 5% to an intraday high of INR 28.36 Wednesday and extended its gains for the second straight session after the bank disclosed that its board will meet on Jan. 21 to consider raising equity capital up to INR 30 billion through qualified institutional placement route. The bank's board had on Oct. 16 approved its plan to raise INR 30 billion through QIP.
At 1259 IST, shares of the company were 4.7% higher at INR 28.25 on the National Stock Exchange. The stock has advanced 6% in two consecutive sessions. A little more than 3 million shares of the company changed hands on the bourse so far in the day, up five-fold than the number of shares traded till the same time Tuesday. These recent gains have reduced the stock's fall in December to 5.5% and it will close the year over 41% lower.
Shares of public sector banks were trading higher Wednesday, led by gains in Punjab & Sind Bank, Indian Bank, and UCO Bank, which were up 3-5%. The Nifty PSU Bank Index rose for the third straight session and was up almost 2%. (Eshitva Prakash)
Equity Alert: Indices continue bullish momentum; heavyweight RIL up 2%
MUMBAI--1216 IST--Domestic benchmark indices continued their bullish momentum Wednesday with the heavyweight stock Reliance Industries surging nearly 2%. Oil and financial services stocks also contributed to the gains.
At 1214 IST, the Nifty 50 was at 26089.05, up 150.20 points or 0.6% and the BSE Sensex was at 85079.49 points, up 404.41 points or 0.5%.
Shares of JSW Steel and Tata Steel continued to be the top gainers on the Nifty 50 index, up nearly 5% and nearly 3%, respectively. Nifty 50 heavyweight Reliance Industries was also among the top gainers. Information technology stocks in the Nifty 50 were the worst hit, except for HCL Technologies, which rose marginally. Tata Consultancy Services, Infosys, Tech Mahindra, and Wipro were down nearly 1?ch.
Shares of Vodafone Idea hit a one-year high of INR 12.40 and the stock was up nearly 2% as the Union Cabinet is expected to consider the company's annual gross revenue relief matter later in the day.
Most oil companies trade higher. Hindustan Petroleum Corp. rose over 5% and hit the all-time high of INR 495.30. The stock was the top gainer in the Nifty 200 index. Oil and Natural Gas Corp. was up 1.5% on the Nifty 50. Shares of Bharat Petroleum Corp., Oil India, and Indian Oil Corp. were up 3-4%.
Nifty Oil & Gas gained over 2% among sectoral indices, with all the constituents trading higher. Nifty PSU Bank, Nifty Metal, and Nifty Energy gained nearly 2%. All the broader indices were in the green with midcap indices over 1% higher.
Among other stocks, HEG was the top gainer in the Nifty 500 index, up nearly 10%, and Radico Khaitan was the worst hit, down nearly 3%. (Adhithya Aji)
Equity Alert: Morgan Stanley sees higher EBITDA for steel cos on import duty
MUMBAI--1214 IST--Global brokerage Morgan Stanley is positive on the earnings prospects of steel companies due to a rise in prices of hot-rolled coil steel following the imposition of duty on some steel products, NDTV Profit reported on social media platform X. According to a notification by the Ministry of Finance on Tuesday, the duty will apply to products such as hot-rolled coils, sheets and plates, cold-rolled coils and sheets, metallic coated steel, and colour-coated steel. The safeguard duty will be levied at 12% from Apr. 21, 2025 to Apr. 20, 2026, 11.5% in the second year, and 11% in the third year ending Apr. 20, 2028.
The brokerage sees a 10% rise in the price of domestic hot-rolled coil steel over the next couple of months, according to the post. Consequently, the brokerage expects a 16–43% change in 2026-27 (Apr-Mar) earnings before interest, tax, depreciation, and amortisation for the companies under its coverage. JSW Steel and Steel Authority Of India are better positioned to benefit from the steel duty, followed by Tata Steel and Jindal Steel, the brokerage said.
According to the Directorate General of Trade Remedies, the rise in steel imports is a threat to domestic steel producers, since cheaper foreign steel has led to market share loss for Indian manufacturers.
Shares of metal companies have reacted strongly to this development and at 1210 IST, JSW Steel, Steel Authority Of India, and Jindal Steel were up 4–5%. The Nifty Metal index was among the strongest performing sectoral indices and was up nearly 2%, hitting a fresh lifetime high of 11205.40 points. (Eshitva Prakash)
Equity Alert: Morgan Stanley ups Manappuram Finance target price over 5%
MUMBAI--1150 IST--Broking firm Morgan Stanley has raised its target price for Manappuram Finance over 5% to INR 300 from its previous target price of INR 285. It maintained an 'equal-weight' recommendation on the stock.
Morgan Stanley has cut the company's consolidated earnings per share estimates by 8.7% for 2025-26 (Apr-Mar), by 1.4% for FY27, and by 1.5% for FY28. It also raised the company's cosolidated loan growth estimate for FY26 to 20% on year from 13% and its cedit cost to 3% from 2.9% for the same period.
At 1139 IST, shares of the company were down over 1% at INR 305.70 on the National Stock Exchange. So far, over 926,000 shares of the company changed hands on the NSE, lower than over 1 million shares traded till the same time Tuesday. The stock was down for the fourth straight session and has shed almost 3% during this period.
Of the 10 brokerage recommendations on the company available with Informist, five have a 'hold' recommendation with an average target price of INR 258. Four have a 'buy' recommendation with an average target price of INR 258 and the remaining one has a 'sell' recommendation on the stock. (Arundathi A R)
Equity Alert: Indices rise more with gains in metal, financial svcs stocks
MUMBAI--1110 IST--Benchmark indices rose more, supported by gains in metal and financial services stocks. Index heavyweight Reliance Industries rose nearly 1% and, along with JSW Steel and Tata Steel, helped lift the Nifty 50 index.
At 1102 IST, the Nifty 50 was at 26051.35 points, up 112.50 points or 0.4%, and the BSE Sensex was at 84945.02 points, up 269.94 points or 0.3%.
JSW Steel and Tata Steel continued to gain, up nearly 5% and over 2%, respectively. Tata Steel hit a one-month high of INR 181.40. Shares of Titan Co. and Power Grid Corp. of India rose nearly 2%. The latter was declared the successful bidder to establish a 2,000 MWh--1,000 MW x 2 hours--cumulative capacity standalone battery energy storage system for Andhra Pradesh Transmission Corp. Shares of Oil and Natural Gas Corp. were up over 1%.
Financial services companies Shriram Finance, SBI Life Insurance Co., and Jio Financial Services, were up 1?ch. Shares of State Bank of India and Axis Bank were also up 1?ch.
Fast-moving consumer goods stocks gained, with Hindustan Unilever, ITC, Nestle India, and Tata Consumer Products up 0.4-1%. Information technology stocks such as Tata Consultancy Services, Infosys, Tech Mahindra, and Wipro were down 0.2-1%. Meanwhile, HCL Technologies was up nearly 1%.
All broader indices traded with gains, with the Nifty Midcap 150 and Nifty Smallcap 50 up nearly 1?ch. Barring the Nifty IT, all the other sectoral indices were higher. Nifty Metal and Nifty PSU Bank were the top gainers, up nearly 2?ch.
Among other stocks, HFCL rose over 8% and was one among the top gainers in the Nifty 500 index with strong volumes. The stock is out of the futures & options segment from Wednesday's trading session, meaning it will be traded only in the cash market, CNBC-TV18 reported. (Adhithya Aji)
Equity Alert: IFCI rises 8%; co sells stake in North Eastern Development Fin
MUMBAI--1105 IST--Shares of non-banking financial company IFCI rose more than 8% to an intraday high of INR 54.50 Wednesday. This follows the company's late Tuesday announcement of the sale of a 10% equity stake in North Eastern Development Finance Corp. The stock has risen after declining for two consecutive sessions and is headed for a near-6% gain in the month of December.
At 1102 IST, shares of the company were slightly off their day's highs, but still traded almost 7% higher at INR 53.93. The company said it had monetised 10% holding in North Eastern Development Finance Corp. at INR 1.22 billion. Over 34 million shares of the company have changed hands so far on the National Stock Exchange, 21 times higher than the 1.6 million shares traded on the bourse till the same time Tuesday. The stock has risen 1.5% so far in the past seven days. Meanwhile, its last six-month performance has been lacklustre, declining over 17% in that period.
For the quarter ended September, the company reported a consolidated net profit of INR 1.43 billion on a revenue of INR 7.32 billion. (Eshitva Prakash)
Equity Alert: Morgan Stanley stays underweight on L&T Fin despite target hike
MUMBAI--1035 IST--Global brokerage Morgan Stanley has raised its price target on L&T Finance by nearly 12% to INR 160 from INR 143, citing improved earnings visibility and operating assumptions, according to an NDTV Profit report. However, the brokerage has maintained its 'underweight' rating on the stock on the back of continued valuation concerns and return ratios. At 1032 IST, shares of the company traded almost 2% higher at INR 311.20 on the National Stock Exchange.
The brokerage upgraded the stock's 2025-26(Apr-Mar)-FY28 earnings per share estimates by 4-4.3% due to slightly higher margins and tighter cost control, the report said. It has also raised net interest margin estimate to 9.0% from 8.9%, while cutting operating cost estimates by 1–2% over the same period. However, due to persistent stress in parts of retail and microfinance lending segments, the brokerage has increased credit cost expectations to an average 2.34%, from 2.3?rlier.
The brokerage said that current valuations are pricing in a faster recovery in profitability than is likely, given the pace of asset quality normalisation and margin improvement. The brokerage also noted that L&T Finance's business is entirely India-focused, making performance closely tied to domestic credit conditions. While this provides long-term growth opportunity, it also increases vulnerability to cyclical slowdowns in retail lending.
Morgan Stanley remains cautious on the stock's medium-term prospects due to a slowing microfinance credit cycle, which the brokerage believes will limit overall retail loan growth. It expects L&T Finance's retail loan book to grow around 20% compound annual growth rate over FY25–FY28, lower than earlier phases of expansion. (Eshitva Prakash)
Equity Alert: Nomura, Jefferies hike Shriram Fin's target price on MUFG deal
MUMBAI--0955 IST--Global brokerages were positive on Shriram Finance, reiterating bullish calls on the non-banking finance company's stock on the back of recent investment from Mitsubishi UFJ Financial Group. Brokerages Nomura and Jefferies have hiked their target prices on the stock while maintaining bullish calls. Domestic brokerages had previously put out bullish outlooks on the stock after the INR-396.18-billion investment from Japan-based financial services company, MUFG. At 0937 IST, shares of the company were nearly 1% higher at INR 987.65 and the stock has advanced over 16% in December.
Brokerage Nomura raised its target price on Shriram Finance by over 5% to INR 1,200 from INR 1,140 earlier and maintained a 'buy' recommendation on the stock, according to an NTDV post on social media platform X. The brokerage expects the company's asset under management growth at 20% and a 10-20-basis-point credit cost improvement for the company in next three years. It sees a faster growth in its gold loans portfolio in the near term. The company's return on assets, however, is pegged at 3.9% by 2027-28 (Apr-Mar) and is expected to moderate to 3.7% over the next five years. The brokerage expects the company's vehicle and non-vehicle product mix to remain at 80% and 20%, respectively.
Jefferies has maintained a 'buy' recommendation on Shriram Finance while hiking its target price on the stock from INR 1,145 to INR 1,060. The brokerage has raised the company's FY27–28 earnings per share estimates by 5–7%. It expects Shriram's assets under management growth at a compounded annual growth rate of 18-20% over the next three years and expects a 100-bps reduction in cost of funds over next two years. The brokerage sees the company's net interest margins rising, even if the lender passes on some of the cost benefits to customers. Credit costs are expected to decline, while return on asset could rise to 3.6%, in the next five years, the brokerage said.
Morgan Stanley maintained an 'overweight' recommendation on Shriram Finance with a target price of INR 925, according to a CNBC post on X. The brokerage sees the company's assets under management growth improving by 3–4% to reach 18–20% in the long term, boosted by the MUFG deal. The brokerage expects a reduction in cost of funds by 100 bps over two to three years. The brokerage said that it sees a possibility of a structural reduction of 10-20 bps in credit costs as the company retains good customers. However, existing liabilities, especially bonds and retail deposits, will take time to reprice, the brokerage said. (Eshitva Prakash)
Equity Alert: Indices open higher on gains in metal, financial svcs stocks
MUMBAI--0953 IST--Domestic benchmark equity indices opened higher Wednesday, owing to gains in shares of metal and financial services companies. The Nifty 50 breached the 26000-point mark, supported by gains in index heavyweight Reliance Industries, as well as in JSW Steel and Tata Steel. Reliance Industries was up nearly 0.5%.
At 0951 IST, the Nifty 50 index was at 25983.50 points, up 44.65 points or 0.2%, and the BSE Sensex was at 84784.73 points, up 109.65 points or 0.1%.
Shares of JSW Steel and Tata Steel were the top gainers, up nearly 5% and 2%, respectively. This was after the government imposed a safeguard duty of up to 12% on imports of certain non-alloy and alloy steel flat products for a period of three years, citing a surge in imports. Jindal Steel rose over 3%, among the top gainers among Nifty 200 constituents.
Shares of financial services companies such as Jio Financial Services, HDFC Life Insurance Company, and Kotak Mahindra Bank were up 0.4-1%. Bajaj Finserv was the worst hit in the 50 stock index, down nearly 1%.
Barring the Nifty IT, Nifty Realty, and Nifty Healthcare, all other sectoral indices traded with gains. The Nifty Metal was up over 1% and Nifty PSU Bank rose nearly 1%.
Defence stocks were on a positive note, with shares of BEML, Bharat Electronics, Bharat Dynamics, Bharat Forge, and Hindustan Aeronautics up 1-2%. The stocks rose after the Ministry of Defence Tuesday signed contracts worth INR 46.66 billion for battle carbine, and torpedoes. Bharat Forge's shares surged after the company signed its largest small arms contract with the Ministry of Defence worth INR 16.67 billion for supplying indigenously designed and developed close quarters battle carbines.
Among other stocks, HFCL and IFCL were the top gainers among Nifty 500 constituents, up nearly 9% and 7%. IFCL rose after the company monetised around 10% stake in North Eastern Development Finance Corp. for INR 1.22 billion. Meanwhile Asahi India Glass was the worst hit in the index, down nearly 4%. (Adhithya Aji)
Equity Alert: Steel cos rise 3-5?ter govt imposes safeguard duty
MUMBAI--0947 IST--Shares of steel companies rose sharply after the government imposed safeguard duty of up to 12% on imports of some steel products for three years. Shares of JSW Steel, Tata Steel, Jindal Steel, and Steel Authority of India rose as much as 3-5%.
According to a notification by the Ministry of Finance on Tuesday, the duty will apply to products such as hot rolled coils, sheets and plates, cold rolled coils and sheets, metallic coated steel, and colour coated steel. The safeguard duty will be levied at 12% from Apr. 21, 2025 to Apr. 20, 2026, 11.5% in the second year, and 11% in the third year ending Apr. 20, 2028.
Shares of JSW Steel were the top gainers among steel companies and it hit the highest intraday level in over three weeks at INR 1,164 per share. Shares of Tata Steel and Jindal Steel touched their highest levels in over a month and those of SAIL hit a 52-week high of INR 147 per shares. At 0943 IST, shares of these companies traded 2-4% higher.
Owing to this, the Nifty Metal index was the top gainer among sectoral indices, up over 1%. The sectoral index hit a fresh lifetime high of 11164.40 points. (Anshul Choudhary)
Equity Alert: Morgan Stanley raises target price of MCX to INR 11,135
MUMBAI--0845 IST--Morgan Stanley has upgraded the target price of Multi Commodity Exchange Of India to INR 11,135 from INR 6,710 with an 'equal-weight' recommendation. The average daily transaction revenue of the commodity exchange has surged in the past three months due to price action in commodities, the global brokerage said.
On Tuesday, Multi Commodity Exchange of India ended 0.4% lower at INR 10,889. The stock had hit the all-time high of INR 11,219 on Monday.
The brokerage raised estimates materially and sees potential upside risks if transaction volumes are sustained. It estimates an earnings per share of 15% for 2025–26 (Apr-Mar), 20% for FY27, and 24% for FY28, CNBC-TV18 reported. At current prices, the stock is at 50 times the earnings per share estimate for FY27 and 47.5 times the valuation estimate for FY27, Morgan Stanley said.
At the current annual daily transaction revenue of INR 104 million over FY27 to FY28, the stock is expected to trade at 35 times the price-to-earnings-per-share, which is a 5% premium to the last traded price. (Adhithya Aji)
Equity Alert: Indices seen higher Wed on buying at lower levels
MUMBAI--0844 IST--Benchmark equity indices are expected to see some gains in early trade Wednesday despite lack of fresh triggers. This follows losses in the previous four-five sessions. Analysts expect the Nifty 50 to bounce back this week. Some analysts expect it to remain in a range.
The GIFT Nifty suggests a positive start to the market as it is nearly 188 points higher than the Nifty 50's previous close. On Tuesday, the 50-stock index closed flat at 25938.85 points, closing in negative territory for the fourth straight day. The BSE Sensex closed at 84675.08, down 20.46 points Tuesday.
"Nifty Bank is trading in a sideways structure but losing relative strength compared to the broader market," Emkay Global Financial Services said. "The index faces stiff resistance near 59500, and a failure to cross this level could lead to a decline towards 58500." The index closed 0.4% higher at 59171.25 points on Tuesday.
The US Federal Open Market Committee released the minutes of its Dec. 9-10 meeting after market hours Tuesday. According to the minutes, most officials expect an additional rate cut in 2026 and one in 2027, after the Fed reduced the key interest rates in the previous three meetings.
Benchmark indices on Wall Street closed lower on Tuesday, extending losses for the third consecutive session. All the three major indices were dragged down by losses in information technology stocks Palantir Technologies and Nvidia Corp. Asian market indices, barring China's CSI 300 index, opened lower, with the Hang Seng index the worst performer in the region.
Back home, defence stocks will be in focus after the Ministry of Defence signed contracts worth INR 46.66 billion for battle carbine, and torpedoes. (Arundathi A R)
Equity Alert: Asian indices mixed, China factory activity rises after 8 mos
MUMBAI--0822 IST--Asian equity indices were mixed on Wednesday. China's CSI 300 index was up 0.2?ter official data showed the country's factory activity saw a marginal expansion in December, snapping eight months of contraction. Consumer inflation in South Korea slowed in 2025 according to official data.
The RatingDog China General Manufacturing Purchasing Managers' Index, which is compiled by S&P Global, rose to 50.1 in December from 49.9 in November, according to a report by Reuters. This was in line with an official Purchasing Managers' Index released earlier that indicated factory activity rising. The National Bureau of Statistics' manufacturing purchasing managers' index rose to 50.1 in December from 49.2 in November, above the 50-point mark separating growth from contraction. It beat analysts' forecast of 49.2 in a Reuters poll. The marginal expansion was achieved due to stronger production and domestic demand, which offset a decline in foreign orders. This puts the country on track to achieve its full-year growth target of "around 5%" for 2025 despite a trade war with the US, weak domestic demand, and a property slump, Reuters said.
South Korea's consumer inflation slowed down to 2.1% in 2025 from 2.3% in 2024, in line with with the Bank of Korea's target of 2%. This would potentially support Bank of Korea's case to pause interest rates at the current level for longer, according to a Reuters report. The Bank of Korea kept its interest rates unchanged at 2.50% for the fourth consecutive meeting on Nov. 27. The consumer price index of the country rose to 2.3% in December, in line with forecasts. The index rose 0.3% on a monthly basis as opposed to a 0.2% rise expected by economists, Reuters said.
Markets in Hong Kong and Australia will close early for the holidays while those of Japan and South Korea are shut for the day, according to a CNBC report. Markets in China will be shut on Thursday and Friday, according to a report by the South China Morning Post.
Following were the levels of key Asian indices at 0822 IST:
|
Level |
Last |
Change in % |
| IDX Composite |
8646.938 |
0.03 |
|
S P/ ASX 200 INDEX |
8690.1 |
(-)0.31 |
|
TAIEX |
28865.29 |
0.55 |
|
SSE Composite Index |
3977.0689 |
0.30 |
|
Nikkei 225 Day |
50339.48 |
(-)0.37 |
|
KOSPI |
4214.17 |
(-)0.15 |
|
CSI 300 Index |
4659.3874 |
0.17 |
(Akshat Saksena)
Equity Alert: US indices close lower Tue, down for 3rd straight session
MUMBAI--0742 IST--All three major US equity indices closed slightly lower Tuesday, falling for the third consecutive session. The indices were dragged down by losses in technology stocks Palantir Technologies and Nvidia Corp., both recording back-to-back sessions of a drop.
Shares of Nvidia and Palantir fell 0.4% and nearly 2%, respectively. However, both stocks, along with peers such as Advanced Micro Devices, have seen phenomenal gains this year, according to a CNBC report. Shares of Nvidia have risen 39% during the year, Palantir has surged 139%, and Advanced Micro Devices has jumped 78%. Gains in artificial intelligence stocks are set to continue next year as well, according to Bill Northey of US Bank Asset Management, the CNBC report said.
Shares of communication companies were the highest gainers during the session due to a rise in shares of Meta Platforms, according to a Reuters report. The stock was up over 1%. The company said it would acquire Manus, a Chinese-founded AI start-up, to accelerate its efforts to integrate advanced AI across its platforms such as Facebook and Instagram, Reuters said. A source familiar with the matter told Reuters that the deal to acquire the Singapore-based firm was valued between $2 billion and $3 billion.
Shares of Citigroup fell nearly 1%, a day after the board approved the sale of its Russian unit, AO Citibank, to Renaissance Capital, leading to a pre-tax loss of around $1.2 billion due to currency translation. "We believe investors will look past it as a non-core item and focus more on the idea that resolution of another legacy issue is getting closer to the finish line – a positive for (Citi's) ongoing transformation," R. Scott Siefers, analyst at Piper Sandler, said in a note, according to Reuters.
Russia said it would toughen its stance on negotiations to end the Ukraine war, accusing Kyiv of attacking a Russian presidential palace. This led to a rise in oil prices, with the S&P 500 Energy Sector outperforming its peers, rising 0.7%, according to the Reuters report.
Minutes of the US Federal Reserve's December meeting showed that policymakers were divided over the 25 basis point rate cut earlier this month, CNBC said. "With respect to the extent and timing of additional adjustments to the target range for the federal funds rate, some participants suggested that, under their economic outlooks, it would likely be appropriate to keep the target range unchanged for some time after a lowering of the range at this meeting," the minutes said, according to the CNBC report.
Following are the closing levels of US indices Tuesday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6896.24 |
(-)0.14 |
|
NASDAQ Composite |
23419.08 |
(-)0.24 |
|
Dow Jones Industrial Average |
48367.06 |
(-)0.20 |
(Akshat Saksena)
US$1 = INR 89.87
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.
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