Equity Alert
Indices recover; ICICI Bank, HDFC Bank, Eternal lift Nifty 50
This story was originally published at 12:26 IST on 13 January 2026
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Equity Alert: Indices recover; ICICI Bank, HDFC Bank, Eternal lift Nifty 50
MUMBAI--1148 IST--Benchmark indices recovered after trading lower earlier during the session. Gains in heavyweight stocks ICICI Bank, HDFC Bank, Eternal and State Bank of India helped the Nifty 50 rise. However, losses in shares of index heavyweight Reliance Industries, Larsen & Toubro, and Bharti Airtel continued to weigh on the index.
At 1145 IST, the Nifty 50 was at 25781.40 points, down 8.85 points. The BSE Sensex was at 83873.65 points, down 4.52 points. Shares of Larsen & Toubro, Trent, and Dr.reddys Laboratories were the worst performers in the 50-stock index, down 1.7-2.8%. Shares of Eternal, Oil and Natural Gas Corp., and Tech Mahindra were the best performers in the 50-stock index, up 1.3-2.4%.
The Nifty Metal index was among the highest gainers during the session, despite most of its constituents trading lower for the session. The highest gaining stocks in the index were those of National Aluminium Co., Vedanta, and Hindalco Industries, up 1.5-2.0%.
The Nifty Auto index was down 0.5% during the session. Data from Society of Indian Automobile Manufacturers showed that total vehicle sales rose 36.6% on year to 1.95 million units in December. The total vehicle sales for the December quarter rose 17.6% on year to 7.48 million units and rose 6.2% on year to 20.62 million units for Apr-Dec. Tube Investments of India, Exide Industries, and Uno Minda were down 1-2?ch and were among the worst performers in the sectoral index. Samvardhana Motherson International,Bharat Forge and Bosch were up 0.2-0.5?ch and were among the top gainers in the index.
In the Nifty 200 index, Godfrey Phillips India and Motilal Oswal Financial Services were up nearly 5% and 4%, respectively, making them the highest gainers. AU Small Finance Bank and Vodafone Idea were the worst performers in the 200-stock index, down around 3% each. Authum Investment & Infrastructure and ITI were the best performers in the Nifty 500 index, up nearly 9% and 7%, respectively. In contrast, shares of HEG and AU Small Finance Bank were the worst performers in the 500-stock index, down around 3?ch. (Akshat Saksena)
Equity Alert:L&T dn 3% as Kuwait mulls cancelling $9-bln oil project tenders
MUMBAI--1145 IST--Shares of Larsen & Toubro fell nearly 3% to a one-month low of INR 3,911, with the stock being the worst performer among the Nifty 50 constituents so far in the session. The stock fell after media reports said that Kuwait was discussing plans to cancel oil project tenders worth $8.7 billion. The company was the lowest bidder for some tenders.
West Asia-based media company, Meed, reported that Kuwait is looking to cancel a series of tenders as five major upstream contracts reportedly came well above budget. Among them, Larsen & Toubro was the lowest bidder for tenders worth $4.5 billion, CNBC-TV18 reported. In rupee terms, this amounts to around INR 406 billion. As of Sept. 30, the company's consolidated order book stood at INR 6.67 trillion. For Apr-Sept period, international orders of the company accounted for INR 1.24 trillion.
At 1202 IST, shares of the company were nearly 3% lower at INR 3,915.50. Over 1.40 million shares of the company changed hands, which is over two times the number of shares traded till the same time Monday.
Of the 17 brokerage reports available on the company with Informist, 16 have a 'buy' recommendation on the stock with an average target price of INR 4,415. The remaining one has a 'hold' recommendation. (Adhithya Aji)
Equity Alert: HCL Tech falls as much as 2.5% as Q3 PAT falls 4% QoQ
MUMBAI--1052 IST--Shares of HCL Technologies fell 2.5% to a low of INR 1,626, before coming off lows. Shares of the company fell after its net profit for the December quarter fell nearly 4% on quarter and 11% on year to INR 40.76 billion, below expectations of INR 47.49 billion by analysts. The company also cut the upper end of its sales growth guidance for 2025-26 (Apr-Mar) to 4.5% from 5% and raised the lower end of its sales growth guidance to 4% from 3%. The company retained its earnings before interest and tax margin guidance at 17-18% for the period.
The company's revenue rose 6% on quarter and over 13% on year to INR 338.72 billion, beating estimates of INR 331.86 billion by analysts. The company's top line grew at an 11-quarter high on a yearly basis. At 1034 IST, shares of HCL Technologies were slightly lower at INR 1,661.30 on the National Stock Exchange. Over 4 million shares of the company were traded on the bourse during the session so far, four times the number of shares traded till the same time on Monday.
The company reported a one-time impact of INR 9.56 billion due to the new labour codes that came into effect on Nov. 21. This resulted in the company having to increase provision for employee benefits, which were recognised in staff costs for the period. If this impact is to be excluded the net profit, the metric would have improved to INR 50.32 billion, beating analysts' estimates. The one-time impact will be excluded from the company's EBIT margin guidance. The company's revised growth guidance implies a soft March quarter as a decline of 1% growth sequentially will lead to the higher end of the guidance, brokerage Prabhudas Lilladher said. The brokerage downgraded the company's stock to a 'hold' recommendation from 'buy' earlier. However, it increased the target price of the company to INR 1,789 from INR 1,727.
Out of 18 brokerage reports on the company available with Informist, 10 have a 'buy' recommendation on the stock with an average target price of INR 1,820 and six have a 'hold' recommendation with an average target price of INR 1,653. The remaining two brokerages having a 'sell' recommendation on the stock. (Akshat Saksena)
Equity Alert: TCS choppy after co's Q3 PAT falls 12% QoQ on one-time costs
MUMBAI--1017 IST--Shares of the information technology major Tata Consultancy Services were choppy in morning trade after the company reported nearly 12% sequential fall in its consolidated net profit for the December quarter. The fall in its bottom line can be attributed to its one-time costs of INR 33.91 billion incurred during the reporting period.
At 0949 IST, shares of the company were marginally lower at INR 3,237.60. Over 1.30 million shares of the company changed hands on the bourse so far, which is four times higher than the number of shares traded till the same time Monday.
The company reported a consolidated net profit of INR 106.6 billion, which fell short of the analyts' estimate of INR 130 billion. The company reported one-time costs such as INR 21.3 billion due to the impact of of new labour codes, provision towards legal claim of INR 10.1 billion, and restructuring expenses amounting to INR 2.5 billion.
The revenue of the company rose nearly 4% sequentially to INR 670.87 billion, which was higher than the Street expectation of INR 668.01 billion. The operating margin of the company was unchanged for the reporting quarter at 25.2%, which is better than the 30-basis-point fall on average estimated by analysts.
Of the 20 brokerage reccomendations available on the company with Informist, 18 have a 'buy' reccomendation on the stock with an average target price of INR 3,772 and the remaining two have a 'hold' reccomendation. (Adhithya Aji)
Equity Alert: Indices remain lower; heavyweight banks limit further losses
MUMBAI--1015 IST--Benchmark indices remained lower. Pharmaceutical companies and index heavyweight Reliance Industries extended their decline, while select metal stocks were able to recover slightly and private and public sector banks continued to rise steadily, limiting losses.
At 1016 IST, the Nifty 50 was at 25753.50 points, down 36.75 points or 0.1%. The BSE Sensex was at 83742.48 points, down 135.69 points or 0.2%. Near 1% gains in heavyweights HDFC Bank and ICICI Bank were the biggest support to the 50-stock index. Reliance Industries was a major drag on the benchmark index as it fell over 1%. Shares of metal companies such as Hindalco Industries and JSW Steel were trading with gains.
Shares of Larsen and Toubro were down over 2%. According to a report by MEED, Kuwait is discussing cancellation of oil project tenders worth $8.7 billion and looking to rebid the tenders. Larsen and Toubro was the lowest bidder in tenders worth over $4.5 bn, CNBC-TV18 reported, citing analysts. Meanwhile, shares of Eternal were up almost 3%. According to an analyst sales note reffered to by several media reports, the stock carries half weight in the MSCI index due to low foreign headroom. Based on the latest shareholding, foreign headroom has increased and is now above the 25% mark, which should make the stock eligible for the full MSCI weightage.
Among Nifty 200 stocks, Glenmark Pharmaceuticals was down more than 3%. Meanwhile, shares of Godfrey Phillips rose over 4% and were the top performers in the 200-stock index. Authum Investment & Infrastructure rose over 5% and gained the most among Nifty 500 companies, while AU Small Finance Bank was down 2.5%, among the worst hit stocks in the same index. Shares of Maharashtra Scooters rose over 2?ter the company's net profit for the December quarter rose almost 25% on year to INR 41.2 million. Revenue from operations for the quarter rose a little over 11% from a year ago to INR 64.4 million.
Broader market indices were mixed. The Nifty Smallcap 250 index advanced slightly, while the Nifty Midcap 150 index was slightly lower. Alkyl Amines Chemicals, Angel One, and Alok Industries were the biggest small-cap gainers, with their stocks rising nearly 2-3%. (Eshitva Prakash)
Equity Alert: Bank of Maharashtra rises 2% ahead of Oct-Dec results
MUMBAI--1000 IST--Shares of Bank of Maharashtra rose 2% to a high of INR 65.10 ahead of the company's December quarter earnings later in the day. At 0957 IST, shares of the company were at INR 64.61 on the NSE, up over 1% from Monday's close.
Systematix Institutional Equities estimates the bank's net profit for the December quarter at INR 16.33 billion, largely unchanged from the trailing quarter. However, its net profit is expected to rise 16% on year on account of increase in the bank's net interest income and decline in provisions.
Systematix estimates the bank's net interest income at INR 33.89 for the quarter, a rise of almost 4% on quarter and 15% on year. Its net interest income may rise as the bank's global advances as on the Dec. 31 were up 19.6% on year.
The bank's provisions are likely to increase just over 1% on quarter and slippages may also rise due to seasonality, the brokerage said. In contrast, provisions are estimated to decline nearly 9% on a year-on-year basis, aiding the bank's net profit.
Systematix has a 'buy' rating on the stock with a target price of INR 73. For the September quarter, Bank of Maharashtra reported a net profit of INR 16.33 billion and net interest income of INR 32.48 billion. (Shruti Nair)
Equity Alert: Indices fall after opening higher; some bks gain, pharma cos dn
MUMBAI--0941 IST--Domestic benchmark indices fell after opening higher on Tuesday, with early gains seen in select public and private sector banks, while healthcare-related stocks exerted pressure on the Nifty 50.
At 0935 IST, the Nifty 50 was at 25753.30 points, down 36.95 points or 0.1%. The BSE Sensex was at 83741.37 points, down 136.80 points or 0.2%. Eternal was the biggest gainer in the opening minutes of trade and was up 2.5%. Shares of the company have risen for five consecutive sessions. Among other gainers, Oil and Natural Gas Corp. was up almost 2% and Hindalco Industries rose 1%. Meanwhile, Larsen & Toubro was the worst hit constituent of the 50-stock index and was down more than 2%. Pharmaceutical majors Dr. Reddy's Laboratories and Cipla traded over 1% lower, near the bottom of the pack.
Shares of select private and public sector banks were higher, with State Bank Of India and Axis Bank trading with gains. Shares of index heavyweight HDFC Bank rose almost 1%. Another heavyweight, Reliance Industries, however, was down 1%, dragging the Nifty 50 lower.
Among IT companies, Tech Mahindra was up nearly 1%, while HCL Technologies was down more than 1%. The company's consolidated net profit for the December quarter fell 4% on quarter. Brokerage Nimral Bank has downgraded its recommendation on HCL Technologies to 'hold' from 'buy' due to a weak sales growth guidance for FY26. Shares of Tata Consultancy Services were down slightly after the company Monday reported a 12% on-quarter fall in its bottom line for the December quarter due to one-time costs.
Among other stocks, Ola Electric Mobility rose 1%. The company has launched a portable energy system, named 'Shakti' for homes and offices from its cell manufacturing Gigafactory in Krishnagiri, Tamil Nadu. The launch marks the company's entry into the resdential battery energy storage system market. (Eshitva Prakash)
Equity Alert: Indices seen tad up, volatile Tue; focus on IT stocks
MUMBAI--0850 IST--Benchmark indices are expected to open a tad higher Tuesday, mirroring the gains in their Asian peers. The market is expected to be volatile due to the expiry of weekly derivative contracts, analysts said. Information technology majors Tata Consultancy Services and HCL Technologies, which reported their December quarter earnings post market hours on Monday, will be in focus.
While US Ambassador to India Sergio Gor claimed that that the next call on the India-US Bilateral Trade Agreement will be held on Tuesday, a commerce ministry official Monday said that there are no trade talks scheduled with the US this week. There has been no communication from Washington regarding discussions for the trade deal, the official said. Analysts had earlier expected the market to take cues from this event.
GIFT Nifty contracts suggest a slightly higher opening for the Nifty 50 index on Tuesday. At 0828 IST, the GIFT Nifty's January contract was at 25914 points, over 120 points higher than the Nifty 50's close of 25790.25 points on Monday. The BSE Sensex closed at 83878.17 points, up 301.93 points or 0.4%. The Nifty 50 is seen facing resistance at 25800–25850 points and finding support at 25550 points, Sundar Kewat, technical and derivatives analyst at Ashika Group, said.
In the US, benchmark indices closed higher Monday, with the S&P 500 index and Dow Jones Industrial Average registering record closing highs. Shares of technology companies and retailer Walmart gained during the session. Investors looked past concerns about the US Justice Department's criminal investigation of Federal Reserve Chair Jerome Powell, the report said. Meanwhile, most Asian indices were higher in early trade, with Japan's Nikkei 225 being the top gainer. (Arundathi A R)
Equity Alert: Most Asian indices higher; KOSPI, Nikkei reach record highs
MUMBAI--0824 IST--Most indices in Asia were higher in early trade Monday. Several Asian markets hit record highs during the session, including South Korea's KOSPI and Japan's Nikkei 225 Day index, with investors setting aside concerns around recent geopolitical developments in Venezuela and Iran.
Investors also seemed to have dismissed concerns around the criminal investigation into Federal Reserve Chair Jerome Powell in the US, CNBC said. Traders will keep an eye on oil prices amid the protests in Iran, with US President Donald Trump reportedly weighing options for a possible intervention in the West Asian country. President Trump in a post on his Truth Social platform said any country that engages in business with Iran will have to face 25% tariffs on any and all business done with the US.
Japan's Nikkei reached record highs during the session. The country's ruling Liberal Democratic Party is expected to dissolve the Lower House later this month and hold a snap election, likely in February, CNBC reported, citing Japan's public broadcaster NHK. The Liberal Democratic Party's policy chief, Kobayashi Takayuki, said the prime minister has the 'sole authority' to dissolve the Lower House and that members must be prepared as if they were on a battlefield, a report from NHK Japan said. Shares of index heavyweight SoftBank Group Corp. were up 5%, while those of Tokyo Electron and Advantest Corp were up nearly 8% and over 7%, respectively.
The Hang Seng index was up 1.3%, while the CSI 300 traded slightly lower. Shares of Chinese semiconductor company GigaDevice Semiconductor surged nearly 50% during its Hong Kong trading debut Tuesday, with the company having raised around $600 million in its offering, CNBC reported.
Following are the levels of key Asian indices at 0817 IST:
|
INDEX |
LEVEL |
CHANGE IN % |
|
CSI 300 Index |
4788.47 | (-)0.03 |
|
Hang Seng Index |
26956.4 | 1.31 |
|
KOSPI |
4646.34 | 0.47 |
|
Nikkei 225 Day |
53553.41 | 3.11 |
|
TOPIX FIRST SECTION |
3593.32 | 2.25 |
|
FTSE Singapore Straits Times |
4796.56 | 0.62 |
|
S&P/ASX 200 Index |
8849.6 | 1.03 |
(Akshat Saksena)
Equity Alert: Indices in US end higher; S&P 500, Dow Jones hit closing highs
MUMBAI--0740 IST--Equity indices in the US ended higher Monday, with the S&P 500 and the Dow Jones Industrial Average closing at fresh highs. Technology stocks and gains in shares of Walmart aided markets during the session, while investors set aside concerns over the criminal investigation into US Federal Reserve Chair Jerome Powell.
Markets had opened lower due to concerns and pessimism surrounding the investigation into Fed Chair Powell by the US Department of Justice, Reuters said. The investigation by the department into Powell's comments at the June Congressional hearing over a renovation project of the Fed headquarters raised concerns over the independence of the central bank. However, gains in Walmart, which ended 3% higher, and the S&P 500 Information Tech index supported both the S&P 500 and Nasdaq.
"The news that Powell is being investigated by the Justice Department was basically telegraphed by Trump, and so I think the market is taking it in stride for now," Peter Cardillo, chief market economist at Spartan Capital Securities in New York was quoted as saying by Reuters. The support shown by other governors of the US Federal Reserve also provided comfort to markets, the analyst added.
US President Donald Trump's call to have a 10?p on credit card rates prompted banking stocks to fall during the session, Reuters said. Shares of Citi Group fell 3%, while those of JPMorgan Chase & Co. and Bank of America Corp. fell over 1?ch. Shares of Capital One Financial Corp. fell over 6% during the session, according to a report from CNBC.
Investors are looking forward to the US consumer price index report, due later in the day, which could weigh on the outlook for rate cuts by the US Federal Reserve, Reuters said. "The impact of Chairman Powell being under investigation is likely a long-term impact, meaning it's not going to change interest rates in the near term; it's not going to change inflation in the near term," Jim Lebenthal, chief markets strategist at Cerity Partners, was quoted as saying by CNBC. The expectation of strong earnings and the CPI coming in at below 3% along with the rapid economic growth are likely keeping the indices higher for the short term even if the investigation is detrimental for the log term, the chief markets strategist added.
Following are the closing levels of US indices Monday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6977.27 |
0.16 |
|
NASDAQ Composite |
23733.90 |
0.26 |
|
Dow Jones Industrial Average |
49590.2 |
0.17 |
(Akshat Saksena)
US$1 = INR 90.27
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Deepshikha Bhardwaj
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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