Equity Alert
BHEL shrs down 5% to one-month low post Oct-Dec earnings
This story was originally published at 12:05 IST on 20 January 2026
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Equity Alert: BHEL shrs down 5% to one-month low post Oct-Dec earnings
MUMBAI--1151 IST--Shares of Bharat Heavy Electricals fell over 5% to a one-month low of INR 248.75. The stock fell despite the company reporting a more than triple on-year growth in its consolidated net profit and broadly in line with the Street expectations.
At 1117 IST, shares of the company were trading nearly 4% lower at INR 253.70. Over 15 million shares of the company changed hands, which is over five times higher than the number of shares traded till the same time Monday. The stock was down for the third consecutive session and shed nearly 7% during the period.
The order intake of the state-owned capital goods major decreased 4.3% on year to INR 459 billion for the period of nine months ended 2025-26 (Apr-Mar). The order backlog stood at INR 2.2 trillion, Prabhudas Lilladher said. The brokerage cut down earnings-per-share of BHEL for FY26 by 18.9% and for FY27 by 4.3%. This was by factoring in slower execution pace amid strong order backlog, normalised provision, and moderate order inflow momentum, Prabhudas Lilladher said.
The industry segment continued to deliver strong execution with revenue up 27.4% on year. This was driven by accelerating traction across transmission, transportation, oil & gas and defence verticals, according to Prabhudas Lilladher. However, order inflows in the industry moderated sharply to INR 16.3 billion against INR 57 billion reported in the year ago quarter, the brokerage added. Prabhudas Lilladher maintained a 'hold' recommendation on the stock and reduced the target price to INR 245 from INR 250, a downside of 2%.
BHEL reported a gross margin of 30.8%, down 620 basis points on year. This is due to the accelerated execution of low margin legacy projects, according to Nuvama Institutional Equities. The brokerage has cut down the earnings-per-share estimate of the company for 2025-26 (Apr-Mar) by 21% due to bunched execution of legacy projects in the first half of FY26. Nuvama maintained a 'buy' recommendation on the stock with an unchanged target price of INR 353.
Of the six brokerage reports available on the company with Informist, five have a 'buy' recommendation on the stock with an average target price of INR 345 and the remaining one has a 'hold' recommendation. (Adhithya Aji)
Equity Alert: LTIMindtree down 8%; co's PAT falls 31% QoQ on one-time cost
MUMBAI--1150 IST--Shares of LTIMindtree fell nearly 8% to a low of INR 5,911.50 after the company's consolidated net profit for Oct-Dec fell 31% on quarter and 11% on year to INR 9.71 billion. This was below analysts' consensus estimate of INR 14.21 billion by a significant margin. If adjusted for the one-time cost incurred due to the implementation of the new labour codes, the company's consolidated net profit was INR 15.61 billion. The company's consolidated revenue rose around 4% sequentially and 12% on year to INR 107.81 billion for the quarter, in line with the Street's view of INR 107.25 billion. The company's yearly growth in revenue was the highest in 10 quarters.
According to brokerages, LTIMindtree reported good results for the December quarter with an improvement in its order book and margins. The outlook for the company is seen positive, brokerages said. The company posted a rise in revenue despite a decline in income from its top five clients led by a high-single digit sequential rise seen by its manufacturing and healthcare segments. The revenue from its top five clients fell nearly 9% on year and 3% on quarter, according to Nuvama Institutional Equities. This fall was led by the company's top client in its banking, financial services, and insurance segment. However, the weakness seen by the top client is expected to bottom out by the March quarter with the overall segment expected to grow in 2026-27 (Apr-Mar), Nuvama said.
The artificial intelligence-led productivity initiatives for large clients continue to affect the company's near-term growth, according to Motilal Oswal Financial Services. However, as four out of five clients of the company have completed their productivity programmes, the impact appears to be moderating and the phase of transition should be manageable, the brokerage said.
Margins of the company are supported by its 'Fit4Future' execution, cost discipline and foreign exchange boost but were offset by the furloughs seen in the quarter, according to brokerages. Order inflows of $1.70 billion for the December quarter indicate steady demand despite macroeconomic challenges, Motilal Oswal said. The brokerage expects the renewals to be used to consolidate vendor positions that support the company's wallet share gains. The management expects to maintain the growth momentum in the March quarter on the back of strong execution, traction in AI-led offerings, and a robust deal pipeline, Emkay Global said.
At 1146 IST, shares of LTIMindtree were over 7% lower at INR 5,918 on NSE. Over 830,000 shares of the company have been traded on the bourse so far during the session, higher than the over 170,000 shares traded till the same time Monday. Out of 14 brokerage reports on the company available with Informist, nine have a 'buy' recommendation with an average target price of INR 6,736 on the stock. Out of the remaining five, three have a 'hold' recommendation and two have a 'sell' recommendation. (Akshat Saksena)
Equity Alert: Indices remain lower; most Nifty 50 cos in the red
MUMBAI--1135 IST--Benchmark indices remained lower and the Nifty 50 continued to hover below its immediate support levels. A few Nifty 50 companies traded higher and were up modestly. All sectoral indices were in the red.
At 1129 IST, the Nifty 50 was at 25463.95 points, down 121.55 points or 0.5%. The BSE Sensex was at 82905.53 points, down 340.65 points or 0.4%. While index heavyweights such as HDFC Bank and ICICI Bank trimmed losses from earlier in the session and lent support to the 50-stock index, a 1?ll in Reliance Industries halted prospects of a meaningful recovery. Coal India and Bajaj Finance were down over 2?ch and were among the worst hit Nifty 50 stocks. Dr. Reddys Laboratories and Hindustan Unilever were at the top of the Nifty 50 index, despite the latter coming off the day's highs.
State Bank of India pared gains and was only marginally higher. Meanwhile, select information technology stocks such as Tech Mahindra, Wipro, and HCL Technologies extended losses and were 1-2% lower.
Ola Electric Mobility fell almost 7%. The company said it has appointed Deepak Rastogi, former group chief financial officer of Puravankara, as its CFO, effective Tuesday. This comes after Harish Abichandani resigned from the post, citing personal reasons. The company has not specified the tenure of Rastogi's post.
The Nifty Realty index was the worst hit sectoral index and was down nearly 3%. Oberoi Realty, Prestige Estates Projects, and Sobha were the worst hit constituents of the index and were down 4–7%. All stocks in the Nifty India Defence index also fell, with shares of Data Patterns (India), MTAR Technologies, and Mishra Dhatu Nigam down 3-5%. (Eshitva Prakash)
Equity Alert: ITC Hotels slightly down ahead of Oct-Dec results
MUMBAI--1028 IST--Shares of ITC Hotels fell nearly 1% to a low of INR 183.75 ahead of the company's December quarter earnings later in the day. The company is expected to report a rise in revenue and net profit for the December quarter, driven by higher room rates, festive demand, and wedding-related travel, according to analysts. At 1027 IST, shares of the company were at INR 183.95 on the NSE, down 0.7% from Monday's close.
ITC Hotels' consolidated net profit is estimated at INR 2.72 billion-INR 2.95 billion. Estimates from only two brokerages were available on the company with Elara Securities (India) Pvt Ltd. projecting the higher estimate followed by JM Financial Institutional Securities Pvt Ltd.
The consolidated revenue is estimated at INR 11.44 billion-INR 11.81 billion. The higher estimate is by Elara Securities and the lower by JM Financial. The year-on-year rise in ITC Hotels' revenue in the December quarter is largely driven by higher average room rates, even as industry-wide occupancy levels remained broadly flat, according to Elara Securities. It said demand during festivals, wedding, and corporate travel, along with large leisure and business events during the quarter supported revenue growth.
Commenting on the hospitality sector, Elara said international tourism usually peaks this quarter, mainly benefitting luxury and upscale hotels in key markets. However, the brokerage cautioned that cancellations of IndiGo flights in December led to some moderation in occupancy and hit room prices towards the end of the quarter.
Elara has a 'buy' rating on the stock with a target price of INR 266. For the September quarter, ITC Hotels reported a net profit of INR 1.32 billion and revenue of INR 8.39 billion. (Gunjan Rajput)
Informist, Tuesday, Jan. 20, 2026 Tel +91 (22) 6985-4000
Equity Alert: Shares of Oberoi Realty fall after co misses Q3 PAT estimate
MUMBAI--1025 IST--Shares of Oberoi Realty fell 6% to a six-month low of INR 1,555 after the company missed the consensus estimate for its December quarter net profit. The stock was down for the second session and shed nearly 7% during this period.
The real estate developer Monday posted flat on-year growth in its bottom line for the December quarter. The company's consolidated net profit for the reporting quarter rose 0.7% on year and fell over 18% sequentially to INR 6.23 billion, lower than the INR 7.04 billion expected by analysts. Its consolidated top line grew almost 6% on year but fell over 16% sequentially to INR 14.93 billion in the December quarter. Oberoi Realty also incurred a one-time cost in Oct-Dec, resulting from an increase in the company's obligations due to the new labour codes which came into effect in November.
At 1015 IST, shares of Oberoi Realty were trading over 5% lower at INR 1,568.90 on NSE. So far, nearly 979,000 shares of the company have changed hands on the exchange, higher than 58,000 shares traded till the same time Monday.
Of the six brokerage recommendations available with Informist on the company, four have a 'buy' recommendation with an average target price of INR 1,943. One has a 'hold' recommendation and the remaining one has a 'sell' recommendation on the stock. (Arundathi A R)
Equity Alert: Indices remain lower; Nifty 50 breaches immediate support
MUMBAI--1010 IST--Benchmark indices remained lower in early trade as metal companies came off highs and index heavyweights extended losses. Only a handful of Nifty 50 companies were trading higher, leading to the 50-stock index falling below its immediate support of 25500 points. The India VIX, which is the market's fear gauge, rose almost 4%, signalling volatility in trading.
At 1008 IST, the Nifty 50 was at 254785.70 points, down 99.80 points, or 0.4%. The BSE Sensex was at 82966.49 points, down 279.69 points, or 0.3%. Bajaj Finance and Eternal were among the worst hit Nifty 50 stocks and were down 2-3%. ICICI Bank and Kotak Mahindra Bank were slightly higher, lending some support to the 50-stock index, but shedding some gains from earlier in the session. NTPC was the best performing Nifty 50 stock and was 1% higher. Meanwhile, a near 0.4% drop in Reliance Industries and a 0.3?ll in HDFC Bank was a major drag on the Nifty 50.
Among other stocks, shares of Oberoi Realty fell nearly 6?ter the company's consolidated bottom line for the reporting quarter rose 0.7% on year, but fell over 18% sequentially to INR 6.23 billion. Analysts' consensus estimate had pegged the realty player's bottom line for the December quarter at INR 7.04 billion.
Broader market indices fared worse than their benchmark peers, with all smallcap and midcap indices falling over 1%. Aditya Birla Fashion And Retail was the worst hit smallcap stock and was down over 7?ter as many as 43.5 million shares, amounting to 3.6% of the company's outstanding equity, changed hands in the large transaction at an average price of INR 66.4 apiece, taking the total transaction value to 2.89 billion, CNBC-TV18 reported. Bharat Heavy Electricals, Bank of Maharashtra, and Bharat Dynamics were down 2–4% and were the worst performing midcap stocks. (Eshitva Prakash)
Equity Alert: Indices open lower as index heavyweights, FMCG cos fall
MUMBAI--0938 IST--Benchmark domestic indices opened slightly lower Tuesday, in line with declines in equity markets across Asia, which tumbled amid concerns of a transatlantic trade war. US President Donald Trump has threatened to impose tariffs on European countries opposing a US takeover of Greenland. The Nifty 50 was marginally lower in the early minutes of trade due to a fall in select fast-moving consumer goods companies and index heavyweight stocks. Metal stocks performed better than their peers in the 50-stock index, limiting losses.
At 0935 IST, the Nifty 50 was at 25461.90 points, down 123.60 points or 0.5%. The BSE Sensex was at 82883.35 points, down 362.83 points or 0.4%. Bajaj Finance and Interglobe Aviation were among the worst hit Nifty 50 stocks, down over 1% and 2%, respectively. Fast moving consumer goods stocks such as Eternal and Asian Paints were around 2% lower each. Shares of information technology major Wipro extended losses and those of other IT players such as Infosys, Tech Mahindra, Tata Consultancy Services, and HCL Technologies traded in the red. A 0.6?ll in HDFC Bank and a slight fall in Reliance Industries were major drags on the Nifty 50. Meanwhile, Kotak Mahindra Bank was the biggest support to the 50-stock index and was up 1%.
Metal companies such as Hindalco Industries, JSW Steel, and Tata Steel traded with gains. The Nifty Realty index was hit the hardest and was down almost 2%, followed by the Nifty IT index, which was down 1%. All other sectoral indices were lower in the opening minutes of trading.
Among other stocks, LTIMindtree fell almost 6?ter the technology consulting and digital solutions company's consolidated net profit for the December quarter fell around 31% sequentially and 11% on year to INR 9.71 billion, missing analysts' expectations of INR 14.21 billion by a wide margin. The company's management has said it plans to raise wages in the March quarter. (Eshitva Prakash)
Equity Alert: Indices seen in range Tue; Q3 results to give mkt direction
MUMBAI--0830 IST--Domestic benchmark indices are likley to move in a thin range Tuesday, with the bias negative due to the overhang of geopolitical issues. Analsyts see December quarter earnings giving the market direction in the coming sessions, while expectations from the Budget for 2026–27 (Apr-Mar) will give cues next week. Indices in the US were shut on MOnday on account of Martin Luther King Jr. holiday.
The GIFT Nifty contracts suggest that the Nifty 50 index will be in range on Monday. At 0748 IST, the GIFT Nifty's January contract was at 25596.50 points, 11 points higher than the Nifty 50's close of 25585.50 points on Monday. The BSE Sensex closed at 83246.18 points on Monday, down 324.17 points or 0.4%. The Nifty 50 is expected to find support at 25500 points and face resistance at 25700 points, Sundar Kewat, technical and derivatives analyst at Ashika Group, said.
European Union leaders Monday urged for de-escalation and talks after US President Donald Trump threatened to impose 10% tariffs on eight European nations starting Feb. 1 until a "deal" is struck on Greenland. Trump has threatened 10% tariff on goods imported to the US from Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland "until such time as a deal is reached for the complete and total purchase of Greenland". From Jun. 1, this tariff will be hiked to 25%.
Information technology services and consulting company LTIMindtree posted consolidated net profit of INR 9.71 billion for the December quarter on consolidated revenues of INR 107.81 billion. The company's net profit missed the Street view of INR 14.21 billion by a wide margin. Brokerage Emkay Global Financial Services has cut its estimate for FY26 earnings per share by 7.5%, factoring in the company's December quarter performance, while holding FY27 and FY28 estimates. The brokerage retains 'add' recommendation on LTIMindtree with a target price of INR 6,500. The company
Hindustan Zinc reported a robust performance for the December quarter, with a sharp rise in both its bottom line and top line. The company reported a net profit of INR 38.79 billion for the December quarter, up around 47% on year. Revenue from operations rose around 28% on year to INR 109.22 billion. Emkay maintains its 'buy' recommendation on the stock with a target price of INR 700.
Most Asian indices were down in early trade amid concerns on renewed tariff threats from the US, after Trump pushed for levying 10% duties on goods imported from eight European nations. Barring Indonesia's IDX, all the indices were lower, with Japan's Nikkei 225 falling the most. (Arundathi A R)
Equity Alert: Asian markets down; KOSPI falls after hitting fresh high
MUMBAI--0756 IST--Equity indices in Asia were down on Tuesday. The South Korean KOSPI was trading lower for the session after hitting a fresh high. Investors in the region are still grappling with US tariff threats on Europe as the region unites to support Greenland. Investors are also keeping an eye on Japan and the developments surrounding snap elections in the country. US markets were closed Monday on account of Martin Luther King Jr. holiday.
European states are considering counter-tariffs and economic measures in response to the threat of tariffs by US President Donald Trump in his attempt to purchase Greenland, CNBC reported. Trump Saturday said exports from eight European nations would begin at 10% on Feb. 1 and climb to 25% by Jun. 1 if talks fail to secure US control of the mineral-rich island. The continent's constituents have gathered in support of the Arctic island. On Monday, the leader of the world's largest economy refused to rule out the use of force and seemed adamant that he would carry out his tariff threats on the eight members of the North Atlantic Treaty Organization, BBC reported. Speaking on the future of the semi-autonomous island, UK Foreign Secretary Yvette Cooper emphasised the country's position that the future of the island was for "Greenlanders and for the Danes alone" to decide.
Japan's ruling coalition holds a one-seat Lower House majority after its formation in October after Sanae Takaichi came into power because of the resignation of her predecessor, CNBC reported. Given this, it would bring more clarity on policy if the snap elections result in a government with a stronger mandate, even if it raises some near-term political uncertainty, Fitch Group was reported as saying. The global brokerage expects government debt to gradually ease over the medium term as stronger nominal GDP growth will offset wider fiscal deficit and higher borrowing costs, despite expecting debt to remain elevated in the near term for Japan.
Meanwhile, China left its benchmark lending rates unchanged for an eighth consecutive month, with the one-year loan prime rate kept at 3% and the five-year loan prime rate kept at 3.5%, Reuters reported. This was in line with estimates, with 22 market participants surveyed by Reuters arriving at the same conclusion.
Following are the levels of key Asian indices at 0753 IST:
|
INDEX |
LEVEL |
CHANGE IN % |
|
CSI 300 Index |
4708.24 |
(-)0.55 |
|
Hang Seng Index |
26495.09 |
(-)0.26 |
|
KOSPI |
4887.95 |
(-)0.34 |
|
Nikkei 225 Day |
53141.98 |
(-)0.82 |
|
TOPIX FIRST SECTION |
3629.02 |
(-)0.75 |
|
FTSE Singapore Straits Times |
4825.29 |
(-)0.20 |
|
S&P/ASX 200 Index |
8822.40 |
(-)0.59 |
(Akshat Saksena)
US$1 = INR 91.03
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.
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