Equity Alert
L&T, SBI Life rise ahead of Q3 results, Maruti Suzuki falls
This story was originally published at 13:34 IST on 28 January 2026
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Equity Alert: L&T, SBI Life rise ahead of Q3 results, Maruti Suzuki falls
MUMBAI--1300 IST--Shares of Larsen & Toubro, SBI Life Insurance Co., and Bharat Electronics rose ahead of their December quarter earnings, scheduled later in the day. Bharat Electronics rose almost 4% to an over six-month high of INR 435. Shares of L&T rose 1% and SBI Life was up 2%. However, shares of Maruti Suzuki India fell for the sixth straight session ahead of its December quarter earnings.
Bharat Electronics is expected to post a double-digit rise in its revenue and net profit on year for the December quarter, driven by healthy execution of its order book. However, the company's operating margin is likely to decline due to product mix and a high base. The stock is up for the second session, gaining almost 6% during this period.
At 1306 IST, shares of Bharat Electronics were trading 3.5% higher on NSE at INR 430.75. So far, over nearly 20 million shares of the company have changed hands on the exchange, higher than over 9.5 million shares traded till the same time Tuesday.
Of the nine brokerage reports available with Informist on the company, seven have a 'buy' recommendation with an average target price of INR 493, while the remaining two have a 'hold' recommendation.
L&T is likely to report an over 28% rise in its consolidated bottom line on year for the December quarter. Its consolidated revenue for the reporting quarter is expected to rise over 15% on year. Healthy execution of the order book is expected to drive the company's earnings growth in Oct-Dec. The stock is up for the second session.
At 1307 IST, shares of L&T were trading marginally higher on NSE at INR 3,799.70. So far, 1.06 million shares of the company have changed hands on the exchange, a tad lower than the shares traded till the same time Tuesday. All the 11 brokerage reports available with Informist on the company have a 'buy' recommendation with an average target price of INR 4,565.
Maruti Suzuki's revenue for the December quarter is expected to rise at its fastest rate in the last 13 consecutive quarters as its wholesale despatches surged due to the full pass-through of the cut in goods and services tax. The company's net profit and revenue for Oct-Dec are expected to grow 32% on year.
However, according to an analyst tracking the sector, the weakness in the automaker's shares was likely due to pre-earnings jitters. Late Tuesday, media reports also stated that South Africa plans to impose tariffs of up to 50% on vehicles from China and India.
At 1308 IST, shares of Maruti Suzuki India were trading almost 2% lower at INR 14,961 on NSE. So far, over 560,000 shares of the company have changed hands on the exchange, higher than nearly 350,000 shares traded till the same time Tuesday.
Of the 12 brokerage reports available with Informist on the company, 10 have a 'buy' recommendation with an average target price of INR 18,631. The remaining two have a 'hold' recommendation on the stock. (Arundathi A R)
Informist, Wednesday, Jan. 28, 2026 Tel +91 (22) 6985-4000
Equity Alert: Asian Paints dn 7% at 3 mo-low; Q3 earnings miss expectations
MUMBAI--1240 IST--Shares of Asian Paints fell nearly 7% to an over three-month low of INR 2,451. The company reported an on-year fall of 5% in its consolidated net profit for the December quarter at INR 10.60 billion. The consolidated revenue for the quarter rose nearly 4% on year to INR 88.67 billion. The company missed Street's expectations on both metrics.
The largest decorative paint maker was impacted by intense competition and a one-time cost of INR 1.58 billion, of which INR 637.40 million was incurred due to increased gratuity liability. The one-time cost also included INR 938.70 million of impairment losses related to Obgenix Software, an acquired company.
The company's growth delivery remained soft despite a favourable base and multiple initiatives, according to a report by Motilal Oswal Financial Services. The brokerage said the management's commentary on a recovery in demand was uninspiring, with the management aiming for volume growth of 8-10% and value growth of around 5% in the near term. However, the company still has a guidance of 18–20% for its earnings before interest, tax, depreciation, and amortisation on the back of formulation and sourcing efficiencies, the brokerage said. In light of a slower demand recovery and competitive pressure, the near-term outlook looks muted, but given the pent-up demand in the paints category, the brokerage will monitor the pace of recovery and if it moves faster in the coming quarters. The brokerage cut its earnings per share estimate by 1–3% over 2025–26 (Apr-Mar) to FY28 and its target price by nearly 2% to INR 2,950 and maintained its 'neutral' recommendation on the stock.
According to Nirmal Bang Institutional Equities, sales growth seems to be weak as the mix remains poor, despite a relative recovery in volumes. The discretionary demand for paints over the next few quarters has seemed to move away, which has affected industry growth. However, weak global demand is likely to keep material costs lower than anticipated, the brokerage said. The brokerage largely maintained its earnings per share for FY26 and FY27, with no material change. The reasons behind the brokerage maintaining its estimates are that the operating results were in line with its expectations, there is no clarity that growth in the category could see the double-digit growth witnessed in the past, and no revision in margin band guidance. The brokerage maintained its hold rating on the stock and reduced its target price by over 2% to INR 2,640.
Nuvama Institutional Equities was more optimistic over the company's performance for the quarter. The healthy exit growth in Nov-Dec and continued outperformance in rural areas indicate that demand traction is improving entering into the March quarter, the brokerage said. The company's margins strengthened sharply with gross margin at 44%, up 197 basis points on quarter, and EBITDA margin at 20.1% up 94 bps on year. This was mainly due to deflation in raw material costs, higher efficiency, and premium mix. The brokerage reduced its estimates for the company's revenue, EBITDA, and adjusted net profit by 3% for FY27 and FY28 due to higher depreciation and pricing softness. The brokerage maintained its 'buy' recommendation with an average target price of INR 3,390.
At 1240 IST, shares of the company were trading nearly 5% lower at INR 2,502 on NSE. Over 2 million shares of the company have been traded on the bourse so far during the session, sharply higher than the over 545,000 shares traded on the bourse Tuesday. Out of the 13 brokerage reports on the company with Informist, nine have a 'buy' recommendation with an average target price of INR 3,183, two have a 'hold' recommendation, and the remaining two have a 'sell' recommendation on the stock. (Akshat Saksena)
Equity Alert: Indices rise more on gains in oil, fincl svcs stocks; RIL up 1%
MUMBAI--1215 IST--Benchmark indices rose further Wednesday as oil and financial services companies stocks extended gains. Index heavyweights, along with shares of Oil and Natural Gas Corp. and Hindalco, aided the gains in Nifty 50 index. Index heavyweight Reliance Industries was up over 1%.
At 1156 IST, the Nifty 50 was at 25319.30, up 143.90 points or 0.6% and the BSE Sensex was at 82308.12 points, up 450.64 points or 0.6%.
Shares of ONGC hit a one-year high of INR 266.20. The stock rose nearly 7% to be the top gainer in the 50-stock index. Bharat Electronics and Hindalco Industries rose 4?ch. Financial services stocks such as Bajaj Finance and SBI Life Insurance rose 2?ch. Heavyweight banking stocks HDFC Bank and ICICI Bank were 1% higher each.
Asian Paints and Tata Consumer Products continued to be the worst hit in the Nifty 50 index, down nearly 6% and over 4%. Eicher Motors fell nearly 4% and Maruti Suzuki India was down over 2%. Shares of Tata Consuner Products were the worst hit in both the Nifty 200 and Nifty 500 indices as well. Fast-moving consumer goods stocks such as Hindustan Unilever and Nestle India were down around 1?ch.
All the broader market indices were in the green, up 1-1.6%. The gains in the Nifty Smallcap 50 was led by the shares of IIFL Finance, which rose nearly 6%. The gains in the Nifty Smallcap 100 were led by BEML, which rose nearly 8%. Motilal Oswal Financial Services was the top gainer among the Nifty 200 constituents, up over 9%. Hindustan Copper was the top gainer among the Nifty 500 constituents, up over 11%. The stock hit an all-time high of INR 629.50.
Shares of Vishal Mega Mart were among the worst hit in both the Nifty 200 and Nifty 500 indices, down over 5%. Shares of the company fell despite the company reporting a 19% on-year growth in its consolidated net profit to INR 3.13 billion for the December quarter. (Adhithya Aji)
Equity Alert: Cochin Shipyard rises 5% ahead of Oct-Dec results
MUMBAI--1211 IST--Shares of Cochin Shipyard rose over 5% to a high of INR 1,604.20 ahead of the company's December quarter earnings later in the day. At 1210 IST, shares of the company were at INR 1,588.20 on the NSE, up over 4% from Tuesday's close.
Kotak Securities estimates Cochin Shipyard's net profit for the December quarter at INR 1.94 billion, up more than 5% from INR 1.84 billion a year ago. Sequentially, the net profit is expected to rise over 92% from INR 1.01 billion in the trailing quarter.
Kotak Securities estimates the company's revenue at INR 12.02 billion, up over 12% from INR 10.7 billion a year ago. Sequentially, the revenue is expected to rise over 26% from INR 9.51 billion in the trailing quarter.
The revenue growth is expected to be driven by execution of the anti-submarine warfare corvette, next-generation missile vessel projects, and the ship-repair segment, according to the brokerage. Kotak Securities expects earnings before interest, tax, depreciation, and amortisation margin to be 18.1%, down 450 basis points on year.
For the September quarter, the shipbuilding and maintenance company's net profit fell around 48% on year to INR 1.01 billion. Its revenue fell over 13% on year to INR 9.51 billion. (Gunjan Rajput)
Equity Alert: Motilal Oswal rises most in 8 months after Q3 earnings
MUMBAI--1150 IST--Shares of Motilal Oswal Financial Services rose 10.5% to an intraday high of INR 808.80 on Wednesday, snapping a seven-session losing streak. This was the sharpest jump in the company's stock price in over eight months. This spike in share prices came after the diversified financial services firm reported a double-digit year-on-year growth in its bottom line for the December quarter and reported an increase in its revenue, after market hours Tuesday.
The company's consolidated revenue was at INR 21.12 billion, up nearly 6% on year and over 14% sequentially for the December quarter. Its net revenue, which excludes commission expenses, interest expenses, and inter-company adjustments, was INR 14.97 billion for the period, up 11% on year and 3% sequentially. This rise was mainly on account of a strong growth in its asset and private wealth management business. The company's operating net profit rose 16% on year to INR 6.11 billion, slightly topping an estimate of INR 5.59 billion by Emkay GLoabal Financial Services. The company's consolidated net profit was unchanged year on year at INR 5.66 billion.
The asset and private wealth management segment of the company reported a 32% on-year rise in operating net profit to INR 3.09 billion. However, operating net profit of its wealth management segment fell to INR 1.81 billion, down 5% on year.
Emkay Global has a 'buy' call on Motilal Oswal with a target price of INR 1,150, which implies an upside of almost 44% to the stock's current market price of IR 801.05. (Eshitva Prakash)
Equity Alert: Tata Consumer falls to 3-month low despite positive Q3 results
MUMBAI--1110 IST--Shares of Tata Consumer Products fell over 5% to an over three-month low of INR 1,123. The stock closed higher Tuesday after the company reported its December quarter earnings. The company reported an almost 38% on-year rise in its consolidated net profit at INR 3.85 billion for the December quarter. Its revenue from operations rose over 15% on year to INR 51.12 billion.
Nirmal Bang Equities remains positive on Tata Consumer Products over the medium to long term on the back of improvement in margins and a gradual recovery in volume growth in the core business for both India foods and India beverages. Premiumisation initiatives and strong growth in new businesses are the other reasons for the brokerage to remain positive on the stock. The brokerage maintains a 'hold' recommendation with an over 2% increase in target price at INR 1,330.
Broking firm JM Financial maintains an 'add' recommendation on Tata Consumer with a revised target price of INR 1,285. This was nearly 2% higher from the previous target price. The brokerage expects the company's revenue outlook to remain unchanged and help sustain double-digit sales growth, it said in a report.
Nuvama Institutional Equities retained its 'buy' recommendation on the company by raising its target price by 2% to INR 1,500. It raised its estimates for earnings per share for 2026–27 (Apr-Mar)-FY28 by around 2%.
At 1047 IST, shares of the company were trading 5% lower at INR 1,127.60 on NSE. So far, nearly 2 million shares of the company have changed hands on the exchange, higher than over 407,000 shares traded till the same time Tuesday.
Of the 11 brokerage reports available with Informist on the company, nine have a 'buy' recommendation with an average target price of INR 1,376 and the remaining two have a 'hold' recommendation on the stock. (Arundathi A R)
Equity Alert: Shadowfax Technologies lists at 9% discount to issue price
MUMBAI--1105 IST--Shares of Shadowfax Technologies listed at INR 112.60 on the NSE, a discount of over 9% to the issue price of INR 124 per share. The stock listed at an almost 9% discount on the BSE at INR 113. At 1045 IST, shares of the company were trading 6.5% lower at INR 115.89 with over 17 million shares having changed hands on the NSE.
Earlier, the company raised INR 8.56 billion by issuing 69.03 million shares to anchor investors at INR 124 apiece. The initial public offer of the company includes a fresh issue of shares worth up to INR 10 billion and an offer for sale of shares worth up to INR 9.07 billion.
Shadowfax Technologies is a technology-led third-party logistics company that facilitates digital commerce. For the six months ended September, the company reported a consolidated net profit of INR 210.37 million on a revenue of INR 18.06 billion. (Meetali Bhosale)
Equity Alert: Oil cos rise; analyst positive on oil, gas investment plan
MUMBAI--1100 IST--Shares of oil and gas companies were higher in early trade Wednesday. Prime Minister Narendra Modi said India aims to raise investments in the oil and gas sector to $100 billion by 2030, with a target of expanding the scope of exploration to one million square kilometres. This investment is expected to help shield refining companies from crude price fluctuations and maintain a healthy balance sheet. More than 170 oil blocks have already been awarded, and the Andaman and Nicobar basin is emerging as the "next hydrocarbon hope," PM Modi said at the inaugural ceremony of India Energy Week 2026.
At 1058 IST, shares of oil refining companies, such as Oil and Natural Gas Corp. were up nearly 6% and those of Oil India rose almost 8%. Shares of Reliance Industries were up over 1%. The Nifty 50 index was up 0.5%. "The new investment plan is necessary for a growing economy," Sumit Pokharna, vice-president of fundamental research at Kotak Securities, said. "India is a growing economy and needs to reduce dependence on other countries for hydrocarbons, and since we don't have a lot of hydrocarbon reserves ourselves, the next best options way of doing that is to build our own refining capacity," Pokharna said.
A lot of petrochemical companies already have expansion plans underway and are looking for international partners that can help them increase their capacities, the analyst said. Further, crude oil prices have eased recently, which has helped oil companies reduce their debt level and improve their balance sheets, Pokharna said. If geopolitical tensions ease more, companies engaged in production of petrochemical products will benefit greatly as oil prices drop, the analyst added. The March futures contract of Brent Crude oil rose for the second session on the Intercontinental Exchange and was up 0.5% at $67.92 per barrel at 1059 IST.
India is actively working on global partnerships across every sector, according to a press release from the Prime Minister's Office. "In the energy sector alone, there are vast investment opportunities across different areas of the energy value chain," PM Modi said. He added that India has significantly opened up its exploration sector and referred to the deep-sea exploration initiative known as the Samudra Manthan Mission. (Eshitva Prakash)
Equity Alert: Indices off highs slightly; oil, energy cos continue to gain
MUMBAI--1057 IST--Indices were slightly off highs as some stocks erased gains. The market remained higher, supported by gains in oil and energy stocks. Index heavyweights Reliance Industries, ICICI Bank, and HDFC Bank rose around 1?ch, lending support to the Nifty 50 index. At 1048 IST, the Nifty 50 was at 25277.60, up 102.20 or 0.4% and the BSE Sensex was at 82199.67, up 342.19 or 0.4%.
Oil and Natural Gas Corp. and Coal India were the top gainers in the 50-stock index, up 6% and 4%, respectively. They were followed by Hindalco Industries, Bharat Electronics, Axis Bank, and NTPC, which rose nearly 2–3?ch. Bharat Electronics rose nearly 3% ahead of its December quarter results later in the day.
Both Asian Paints and Tata Consumer Products fell to three-month lows of INR 2,451 and INR 1,123.50, respectively. The stocks were the worst hit among all Nifty indices, down 5?ch. Eicher Motors, Maruti Suzuki India, and Bajaj Auto were among the worst hit in the index, down 2-4%. Maruti Suzuki India fell nearly 3% ahead of its Oct-Dec results later in the day. Shares of Titan Company, Bharti Airtel, and Jio Financial Services, down 0.4-1%, erased earlier gains during intraday.
Most energy companies rose after Prime Minister Narendra Modi highlighted that India had significantly opened up its exploration sector, particularly referring to the deep-sea exploration initiative known as Samudra Manthan Mission. Modi also said that by the end of the decade, India aims to raise investments in oil and gas sector to $100 billion. Shares of Oil India rose nearly 8% to be among the top gainers in the Nifty 200 index. Shares of Hindustan Petroleum Corp., Indian Oil Corp., Bharat Petroleum Corp., and Petronet LNG rose 2-4%.
Among sectoral indices, Nifty Oil & Gas and Nifty Energy were the top gainers, up around 3?ch. The gains in both the indices were led by shares of Oil India, which rose nearly 8%. Nifty Auto and Nifty FMCG were the worst hit, down 1?ch.
Motilal Oswal Financial Services was the top gainer in both the Nifty 200 and Nifty 500 indices, up nearly 10%. The stock rose after the financial services company reported a 16% on-year surge in its operating net profit to INR 6.11 billion for the December quarter.
Shares of International Gemmological Institute (India) rose nearly 10% in the Nifty 500 index. The stock rose after the company reported an 18% on-year rise in its consolidated net profit at INR 1.35 billion for the December quarter. Revenue rose 21% on year to INR 3.20 billion for the reporting quarter. (Adhithya Aji)
Equity Alert: Indices open higher led by gains in oil cos, heavyweight stocks
MUMBAI--0946 IST--Domestic benchmark indices opened on a positive note Wednesday, supported by the gains in the stocks of oil companies and index heavyweights. The heavyweight stocks Reliance Industries, ICICI Bank, and HDFC Bank rose around 1?ch. The Nifty 50 breached 25300 points and was also supported by the gains in the stocks of Oil and Natural Gas Corp. and Axis Bank. At 0937 IST, the Nifty 50 was at 25305.30, up 129.90 or 0.5% and the BSE Sensex was at 82293.92, up 436.44 or 0.5%.
Oil and Natural Gas Corp., which rose nearly 6%, was the top gainer in the 50-stock index. Axis Bank rose for the second consecutive session, up nearly 3% to be among the top gainers in the index. The bank Tuesday said it has reappointed Subrat Mohanty as whole-time director for a period of three years.
Asian Paints was the worst hit in the 50-stock index, down 5%. The paints maker reported a consolidated net profit of INR 10.60 billion, missing analysts' estimate of INR 11.95 billion for the December quarter. Tata Consumer Products fell over 4?ter the company reported a consolidated net profit of INR 3.85 billion and failed to surpass the Street's view of INR 4.09 billion. Asian Paints and Tata Consumer Products were the worst hit in the Nifty 200 index as well.
Most oil and gas stocks rose with Reliance Industries, Oil India, Petronet LNG, Gail (India), Gujarat State Petronet, Hindustan Petroleum Corp., and Indraprastha Gas up 1-8%. The Nifty Oil & Gas was the top gainer among the sectoral indices, up nearly 3%. The Nifty Auto was the worst hit among the sectoral indices, down 0.4%.
All broader market indices were in the green, around 1% higher each. The gains in the Nifty Smallcap 50 were supported by Multi Commoddity Exchange, which rose over 5%.
Oil India, which rose 8%, was the top gainer among the Nifty 200 constituents. International Gemmological Institute (india) was the top gainer in the Nifty 500 index, up nearly 10%. (Adhithya Aji)
Equity Alert: Indices in Asia mixed; KOSPI reaches fresh high yet again
MUMBAI--0842 IST--Indices in Asia traded mixed Wednesday as the South Korean KOSPI touched fresh highs and Australia's S&P/ASX 200 Index snapped its three-day winning streak. The Hang Seng reached its highest level in over four years during the session.
Australia's inflation came in at 3.6% on year in the fourth quarter of 2025, its highest level in six quarters, reinforcing warnings from policymakers that interest rate cuts this year are likely to be limited, CNBC reported.
The Hang Seng reached its highest level in over four years. The rise was helped by gains in stocks of companies such as HSBC, Zijin Mining, and JD.com, according to an article from South China Morning Post. Shares of Zijin Mining and JD.com were up over 1?ch and those of HSBC were up 2.5%. However, shares of Trip.com were nearly 2% lower on the index, limiting the gains.
Following are the levels of key Asian indices at 0825 IST:
|
INDEX |
LEVEL |
CHANGE IN % |
|
CSI 300 Index |
4727.82 |
0.47 |
|
Hang Seng Index |
27536.12 |
1.51 |
|
KOSPI |
51848.59 |
1.25 |
|
Nikkei 225 Day |
53029.97 |
(-)0.57 |
|
TOPIX FIRST SECTION |
3529.22 |
(-)0.96 |
|
FTSE Singapore Straits Times |
4896.62 |
(-)0.54 |
|
S&P/ASX 200 Index |
8910.10 |
(-)0.35 |
(Akshat Saksena)
Equity Alert: Indices to open up Wed; India-EU FTA details, Budget key focus
MUMBAI--0835 IST--Benchmark equity indices are likely to extend gains Wednesday post the announcement of the free trade agreement between India and the Europen Union. Market participants are cautious ahead of the Union Budget for 2026-27 (Apr-Mar), scheduled for Sunday, while optimism around the India-EU FTA and wait for further details continue. Moreover, the depreciating rupee and foreign fund outflows continue to weaken market sentiment, analysts said.
"In the near term, investors are awaiting the US Fed's (Federal Reserve) upcoming interest rate decision and the Union Budget for future direction," Vinod Nair, head of research, Geojit Investments Ltd., said in a note. While the apex bank is expected to hold rates steady in the upcoming meeting, with the decision due at 0030 IST Thursday, Chair Jerome Powell's commentary on inflation and the timing of future rate cuts will be closely watched for cues on global liquidity and emerging market flows.
The Gifty Nifty contract suggests a higher opening for the Nifty 50 index Wednesday, even though analysts are wary of several negative triggers for the market. At 0833 IST, the GIFT Nifty's February contract was at 25438.50 points, over 260 points higher than the Nifty 50's close of 25175.40 points on Tuesday. The BSE Sensex closed at 81857.48 points, up 319.78 points or 0.4%. The Nifty 50 is expected to face resistance at 25550 points Wednesday.
India's energy sector is seen offering potential investment opportunities worth $500 billion to make the country independent in energy production. In natural gas, Prime Minister Narendra Modi Tuesday said, "We are aiming to make LNG (liquefied natural gas) transportation vessels domestically." India is currently the third-largest energy consumer and importer of crude. It aims to boost to $100 billion the opportunities on offer in oil exploration, in the effort to lift the area under exploration to 1 million square kilometres, he said. Following this, investors are expected to keenly track the energy stocks Wednesday.
Market participants await the December quarter earnings of Larsen & Toubro, Maruti Suzuki, SBI Life Insurance, and Bharat Electronics, scheduled later in the day. Shadowfax Technologies will list on bourses Wednesday, with an issue price of INR 124 per share, as per a notice from BSE.
Barring the Dow Jones Industrial Average, the other two major US indices closed higher Tuesday, ahead of the corporate earnings. The S&P 500 ended the session at a record closing high of 6978.6 points. Asian indices were mixed in early trade with South Korea's KOSPI gaining the most. Japan's TOPIX gained the least among Asian indices. (Arundathi A R)
Equity Alert: Most US indices gain Tuesday, S&P 500 hits record high
MUMBAI--0746 IST--Most major equity indices in the US ended higher on Tuesday, barring the Dow Jones Industrial Average. The S&P 500 touched a fresh high during the session. The rise was led by gains in big technology companies as traders await financial results in an earnings-heavy week.
Shares of Apple and Microsoft ended over 1% and 2% higher, respectively. The companies are set to report their earnings during the week, with Microsoft, Tesla, and Meta Platforms scheduled to report their results on Wednesday and Apple set to report its numbers on Thursday, according to a report by CNBC. "Everybody is watching anything that gives you insight into the [artificial intelligence] narrative," Thomas Martin, senior portfolio manager at Globalt Investments was reported as saying. The analyst said investors would be focussed on commentary over their expenditure, both capital and operating, and anything about monetisation of AI. Despite concerns about AI trade looming over investors by the end of the previous year, the analyst believes investors' appetite will continue even after concerns about the return on investment.
Shares of US health insurers fell after the Centers for Medicare & Medicaid Services proposed raising payments to Medicare Advantage users by a net average of just 0.09% in 2027, CNBC reported. This was much below expectations of as much as 6% by analysts, Reuters said. Analysts say the near-flat update raises concerns for insurers and offers them little relief as they are burdened by steep medical costs. Shares of Humana and CVS Health Corp. fell over 21% and 14%, respectively.
Analysts will await the policy decision at the US Federal Reserve's policy meeting. The central bank is expected to keep policy rates unchanged at 3.50-3.75%, with the CME Fed Watch tool showing a 95.6% probability of the same. Recent events surrounding the bank such as US President Donald Trump's investigation into US Federal Reserve Chair Jerome Powell and his attempts to remove Federal Reserve Governor Lisa Cook will weigh on the meeting.
Following are the closing levels of US indices Tuesday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6978.6 |
0.41 |
|
NASDAQ Composite |
23817.10 |
0.91 |
|
Dow Jones Industrial Average |
49003.41 |
(-)0.83 |
(Akshat Saksena)
US$1 = INR 91.72
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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