Equity Alert
Escorts Kubota up 3.5%; reports 39% jump in Dec tractor sales
This story was originally published at 13:06 IST on 1 January 2026
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Equity Alert: Escorts Kubota up 3.5%; reports 39% jump in Dec tractor sales
MUMBAI--1240 IST--Shares of Escorts Kubota rose 3.5% to an intra-day high of INR 3,850 after the company reported a nearly 39% increase in its total tractor sales for December to 7,577 units. The stock, however, came off the highs and was trading at INR 3,781.30 on NSE at 1220 IST, up 1.7% from Wednesday.
Nuvama Institutional Equities' estimated the company's total tractor sales for December at 6,200 units. Escorts Kubota's domestic tractor sales grew 36% on year to 6,828 units in December. Nuvama expected the company to sell 5,650 units domestically. The company's tractor exports rose 64% on year to 749 units, beating the brokerage's estimate of 550 units. In the December quarter, the company's tractor sales grew almost 14% on year to 36,955 units. For Apr-Dec, sales of Escorts Kubota's tractors rose 14% on year to 101,413 units.
The company's sales of construction equipment in December fell 7% on year to 812 units. However, the sales volume of December 2025 cannot be compared to December 2024, which saw pre-buying ahead of emission norm changes last year, the company said. It also said there was a visible improvement in sentiment in December compared to previous months. For Apr-Dec, the company's sales for the construction equipment segment fell 18% on year to 3,917 units.
As of 1220 IST, nearly 154,000 shares of the company exchanged hands on the bourse, 12 times higher than the number of shares traded as of the same time Wednesday.
Out of 11 brokerage reports on the company available with Informist, five have a 'hold' recommendation with an average target price of INR 3,588. Three brokerages have a 'buy' recommendation while the remaining three have a 'sell' recommendation on the stock. (Akshat Saksena)
Equity Alert: InterGlobe Aviation up 2%; co gives positive outlook for 2026
MUMBAI--1200 IST--Shares of InterGlobe Aviation rose over 2% to an intraday high of INR 5,175 Thursday. The company's airline, IndiGo, said it will continue international expansion in 2026 and add more to its domestic network, according to an exchange filing. The company said it witnessed accelerated network expansion, the launch of a long-haul service, consistent passenger growth, and important operational learning in 2025.
IndiGo added that it has "rapidly restored" its network and operations to normal and continues to focus on further strengthening its operational processes. The airline is collaborating and providing requested information to the regulator's committee, it said. The operating environment presented periods of industry-wide challenges in 2025, including IndiGo's major operational disruption, which impacted valued customers, the company said. It ended 2025 by welcoming over 123 million customers, an addition of over 10 million compared to the 113 million customers in 2024.
IndiGo operated over 2,200 flights per day, on average, and the company said it maintained an industry-leading on-time performance for 10 out of 12 months in the year. "The learnings from the year gone-by enables IndiGo to enhance its operational reliability, delivering on its strategy of 'Towards New Heights and Across New Frontiers' and staying true to its purpose of giving wings to the nation," it said in the exchange filing.
Over the course of the year, IndiGo launched 10 new international destinations and 30 new international routes, according to the exchange filing. The company also led the restart of direct flights between India and China. IndiGo is set to launch non-stop services to Athens starting Jan. 23, which will also mark the international debut of India's first Airbus A321XLR. It has doubled its order for Airbus A350-900 wide-body aircraft to 60, reflecting confidence in the long-term growth of international travel from India, the company said. IndiGo was the host of the International Air Transport Association Annual General Meeting in Delhi.
On the domestic front, the airline added Hindon, Adampur, Kishangarh and Bikaner to its domestic network and is preparing to commence operations from Noida International Airport in due course. These additions bring IndiGo's network to a total of 139 destinations at year-end with 97 domestic and 42 international destinations. (Eshitva Prakash)
Equity Alert: Indices bounce back after falling flat; IT stocks gain
MUMBAI--1120 IST--Indices regained their momentum lost in early trade, driven by information technology and financial services stocks. The heavyweight stocks Reliance Industries rose nearly 1% and HDFC Bank was up 0.2%.
At 1113 IST, the Nifty 50 index was at 26170.90 points, up 41.30 points, or 0.2% and the BSE Sensex was at 85357.74 points, up 137.14 points, or 0.2%.
Eternal was the top gainer in the 50-stock index, up 2%, followed by shares of InterGlobe Aviation, Mahindra & Mahindra, Adani Ports and Special Economic Zone which rose over 1%. Shares of ITC were trading nearly 8% lower after the company executed a large deal of 37.58 billion shares. The company sold the shares at INR 400.05, which is nearly 1% discount to the previous close. The stock also reacted to the imposition of excise duty on cigarettes in the range of INR 2,050-INR 8,500 per thousand sticks.
Mhaindra & Mahindra rose after the company reported that the wholesale sales rose 25% on year for the month of December.
Information technology stocks of Infosys, Wipro, HCL Technologies, Tech Mahindra, and Tata Consultancy Services rose 0.5-1%. Financial services shares such as Shriram Finance, SBI Life Insurance Co., and Jio Financial Services were up 0.1-1%. Banking stocks such as Axis Bank and ICICI Bank rose 0.4% and 0.2%, respectively.
Shares of Vodafone Idea rose nearly 8% to be the top gainer in the Nifty 200 index. Godfrey Phillips India was down 10% to be the worst hit in both the Nifty 200 and Nifty 500 indices. The shares fell to a six-month low of INR 2,472.
The broader market indices were mixed. All the smallcap indices were down around 0.1% while midcap indices were up around 0.2%. (Adhithya Aji)
Equity Alert: Shares of Blue Dart up 9?ter cut in tax demand against arm
MUMBAI--1047 IST--Shares of Blue Dart Express rose over 9% on NSE to an over one-month high of INR 6,039.50 after the Goods and Services Tax adjudicating authority cut its tax demand on the company's subsidiary Blue Dart Aviation. At 1045 IST, shares of the company traded almost 5% higher at INR 5,795 on the National Stock Exchange.
Following an appeal by the company, the authority reduced the tax demand on Blue Dart Aviation to INR 6.49 million from INR 4.21 billion. According to an exchange filing from Blue Dart, Blue Dart Aviation has accepted and paid the revised tax and interest to avoid prolonged litigation.
So far, over 464,000 shares of the company have changed hands on the NSE, over 170 times the shares traded till the same time Wednesday. The stock has risen for the three sessions out of the last four.
Of the five brokerage recommendations available with Informist on the company, four have a 'buy' call on the stock with an average target price of INR 7,165 and the remaining one has a 'hold' call on the stock. (Arundathi A R)
Equity Alert: Vodafone Idea up; co to get INR 58.4 bln from Vodafone Group
MUMBAI--1033 IST--Shares of Vodafone Idea rose over 6% to an intraday high of INR 11.43 Thursday after the company said it had reached an agreement with UK-based Vodafone Group to amend its merger pact originally signed in March 2017. Post the amendment, the company is set to receive INR 58.4 billion from the promoter group.
Stocks of the company had closed nearly 11% lower in the previous session following media reports of the Cabinet providing the debt-laden telecommunications company a five-year interest-free moratorium on its adjusted gross revenue dues of INR 877 billion. The reported relief was way below expectations, as the Street had originally expected an AGR waiver of at least 50%, according to various analysts. The relief provided to Vodafone Idea might not be enough to address the company's high leverage even without its adjusted gross revenue dues due to its earnings before interest, tax, depreciation and amortisation being insufficient to meet spectrum payment obligations and capital expenditure plans, brokerage Emkay Global said in a report.
At 1030 IST, shares of the company were 5.5% higher at INR 11.36 on the National Stock Exchange. Around 68 million shares of the company have changed hands so far on the bourse. The stock has fallen nearly 6% in a week, but risen 14% in the last 30 days. Along with shares of Vodafone Idea, shares of Indus Towers, which is the telecom tower operator of the former, also rose more than 4%.
Of the eight brokerage reports available with Informist on the company, three have a 'hold' call, three have a 'sell' call on the stock, while two brokerages have a 'buy' call. (Eshitva Prakash)
Equity Alert: Equity Alert: Indices open positive on New Year's day; fincl svcs cos gain
MUMBAI--1005 IST—Domestic benchmark equity indices opened on a positive note on New Year's Day helped by gains in financial services and oil companies stocks. Index heavyweights Reliance Industries and HDFC Bank rose nearly 2%, supporting the Nifty 50 to remain in the green.
At 0946 IST, the Nifty 50 index was at 26169.05 points, up 39.45 or 0.2% and the BSE Sensex was at 85383.02 points, up 162.42 points or 0.2%.
Adani Enterprises rose nearly 2% to be the top gainer in the Nifty 50 index, followed by Eternal which rose over 1%.
Mahindra & Mahindra, InterGlobe Aviation, and Adani Ports And Special Economic Zone were up 1?ch.
Shares of ITC were the worst hit in the index, down 5%. The stock fell after the government imposed an excise duty on cigarettes in the range of INR 2,050-INR 8,500 per thousand sticks. The duty will be based on the length and type of the product, effective from Feb. 1, the finance ministry said in a notification late Wednesday. In a separate notification, the ministry also notified that goods and service tax compensation cess levy on tobacco and related products would be discontinued from Feb. 1. Cigarette-maker Godfrey Phillips India fell to a six-month low of INR 2,535 following the reports of imposition of excise duty on tobacco products. The stock was the worst hit in both the Nifty 200 and Nifty 500 indices.
Shares of Vodafone Idea rose nearly 4?ter the company revised its agreement with the UK-based Vodafone Group originally signed in March 2017. Post the amendment, the company stands to receive INR 58.4 billion from the promoter group. As part of this, Vodafone Group promoters will release INR 23.1 billion over the next 12 months. Along with shares of Vodafone Idea, shares of Indus Towers, which is the telecom tower operator of the former, also rose nearly 2%.
Shares of Adani Total Gas and Adani Total Gas were the top gainers in the Nifty 200 index, up nearly 8% and 5%, respectively.
Blue Dart Express rose nearly 6% in the Nifty 500 index after the Goods and Services Tax adjudicating authority reduced the tax demand against the company's arm, Blue Dart Aviation, to INR 6.5 million from INR 4.21 billion. (Adhithya Aji)
Equity Alert: Cigarette cos down after govt places excise duty on cigarettes
MUMBAI--1001 IST--Shares of cigarette companies slumped in the opening minutes of trade after the government imposed excise duty on cigarettes in the range of INR 2,050-INR 8,500 per thousand sticks based on the length and type of the product, effective from Feb. 1. The ministry also notified that goods and services tax compensation cess levy on tobacco and related products would be discontinued from Feb. 1.
At 0948 IST, shares of ITC were down nearly 5%, the worst hit among Nifty 50 constituents. Shares of the company hit an 18-month low at INR 383.70. Its peer Godfrey Phillips India was down 9%, hitting an over eight-month low at INR 2,512.70. The GST Council had on Sept. 3 agreed to overhaul the indirect tax structure by slashing rates on a host of common and daily-use items. The council also introduced a new GST rate of 40% on luxury goods to subsume the GST compensation cess that some of the items in the 28% GST bracket attracted. However, the council decided to continue the compensation cess on tobacco-related products till the GST-related loans are repaid.
ICICI Securities, which had earlier recommended going long on ITC January futures, advised investors to close their positions at current levels as a stop-loss is triggered. ITC has been under consistent selling pressure, but levels near INR 400 have seen strong, with delivery-based buying limiting the downsides, the brokerage said in a note. On the futures front, the stock has seen aggressive short open interest addition, pushing futures open interest to a one-year-high. Elevated open interest amid muted price action suggests the possibility of a short-covering rally, according to the brokerage.
Of the 21 brokerage reports available with Informist on ITC, 19 have a 'buy' call on the stock with an average target price of INR 504, while one brokerage has a 'sell' and another has a 'hold' call. (Eshitva Prakash)
Equity Alert: Vodafone Idea relief not enough for debt, capex plans - Emkay
MUMBAI--0925 IST--The relief provided to Vodafone Idea might not be enough to address the company's high leverage even without its adjusted gross revenue dues due to its earnings before interest, tax, depreciation and amortisation being insufficient to meet spectrum payment obligations and capital expenditure plans, brokerage Emkay Global said in a report.
The Union Cabinet, in its meeting, decided to provide Vodafone Idea relief on its AGR dues of INR 877 billion by granting a 5-year moratorium on the dues before 2017-18 (Apr-Mar), according to Emkay Global. This will be payable over FY32 to FY41, while AGR dues pertaining to FY18 and FY19 shall be payable over FY26 to FY31 without any change, Emkay said citing media reports. Despite the Street's expectations of at least a 50% waiver on AGR dues, the government did not provide any waivers to the company. Vodafone Idea could see further reduction in its AGR as the Department of Telecommunications will form a committee to recalculate and revaluate the dues, the brokerage said.
Despite having its AGR dues addressed, Vodafone Idea has deferred spectrum payment obligations of around INR 1.2 trillion and capital expenditure plans of INR 75 billion to INR 80 billion for FY26, making the relief granted insufficient due to the company's insufficient earnings before interest, tax depreciation and amortisation, the brokerage said. As of the September quarter, the company's annualised EBITDA is INR 8.98 billion, which is 6.7% of its spectrum debt, along with a cash balance of INR 30.80 billion. The brokerage believes that more capital infusion along with the restructuring of the company's spectrum liabilities is crucial for its long term sustainability. "...leverage remains high even without AGR dues, and the government will need to consider a plan for reducing spectrum debt," the brokerage said.
The brokerage is of the opinion that the government is taking enough steps to ensure that the company remains solvent. However, the government will have to make deeper reforms to make Vodafone Idea into a strong company with manageable leverage. At 0915 IST, shares of the company traded 2.5% higher at INR 11.03 on the National Stock Exchange. (Akshat Saksena)
Equity Alert: Indices seen opening higher Thu, gains likely to be limited
MUMBAI--0850 IST--Benchmark equity indices are likely to extend gains Thursday, after ending higher in the previous session. However, analysts expect the gains to be limited as all global markets are shut on the occasion of New Year. The GIFT Nifty indicates a rise in the Nifty 50 as it is over 200 points higher than the Nifty 50's previous close.
On Wednesday, the 50-stock index closed 0.7% higher at 26129.60 points. The BSE Sensex closed over 500 points higher at 85220.60. The 50-stock index is expected to face resistance at 26200-26285 points and find support at 25975 points, Anshul Jain, technical analyst at Laxmishree Investments and Securities, said.
Market participants await the release of data on goods and services tax collections for December later in the day. They will also focus on automobile stocks as auto companies will declare their monthly sales data for December. Analysts see the GST data showing an improvement in demand and helping cover tax-collection shortfalls.
All benchmark indices on Wall Street ended lower for the fourth straight session on Wednesday, while equity markets in Asia were closed Thursday on account of the New Year holiday. (Arundathi A R)
Equity Alert: US indices fall for 4th straight session Wed, S&P 500 down 1%
MUMBAI--0740 IST--US equity indices closed lower for the fourth consecutive session on Wednesday, defying expectations of a 'Santa Claus rally'. Over the last four sessions, the S&P 500 index and the Dow Jones Industrial Average fell over 1%, and the tech-laden NASDAQ Composite was down nearly 2%. Equity markets in Asia were closed on Thursday on account of New Year's Day.
The Dow Jones Industrial Average was able to achieve gains on a monthly basis, while the S&P 500 and the NASDAQ Composite fell nominally, according to a report by Reuters. However, the three indices have recorded double-digit gains in 2025, making it the third consecutive year of gains, boosted by an 'insatiable appetite' for artificial intelligence stocks, Reuters reported. The Dow Jones Industrial Average index recorded eight consecutive months of gains, its longest streak since 2017-2018. The S&P 500 was also on track for eight consecutive months of growth just before the closing bell but could not manage to do so, ending slightly lower in December, the report said.
Energy stocks and technology stocks were among the worst performers during the session, with Microsoft falling 0.8%, Reuters said. Shares of energy company EQT Corp. fell nearly 2% during the session as well. Shares of NVIDIA, which have gained 39% this year, have been one of the beneficiaries of AI trade, becoming the first company to hit $5-trillion market capitalisation, Reuters said. Shares of NVIDIA ended nearly 1% lower during the session.
The communication services index was the highest gainer for the year due to a 65% rise in Alphabet, Reuters said. Shares of storage chip-makers Micron Technology, Western Digital, and Seagate exceeded their S&P 500 peers as they tripled in value in 2025. Nike rose 4?ter CEO Elliott Hill reported that he bought about $1 million worth of shares recently. Shares of Vanda Pharmaceuticals surged after the company received approval from the US Food and Drug Administration for its drug meant for the prevention of motion-induced vomiting, Reuters said. Shares of the company jumped over 25% during the trading session.
Trading volumes remained low in the holiday-truncated week, with the market closed for New Year on Thursday. "Volume on US exchanges was 11.17 billion shares, compared with the 15.80 billion average for the full session over the last 20 trading days," Reuters said. The monteary policy of the US Federal Reserve is likely to set the tone for 2026. Investors have started pricing in further reductions after recent economic data and expectations of a new 'dovish' Federal Reserve chairman, Reuters said.
Following are the closing levels of US indices Wednesday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6845.50 |
(-)0.74 |
|
NASDAQ Composite |
23241.991 |
(-)0.76 |
|
Dow Jones Industrial Average |
48063.29 |
(-)0.63 |
(Akshat Saksena)
US$1 = INR 89.97
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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