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Informist, Thursday, Jan. 29, 2026                                      Tel +91 (22) 6985-4000

Equity Alert: Nifty 50 to rise Fri; trend shifts to positive before Budget

MUMBAI--1721 IST--The Nifty 50 is expected to rise Friday, the last trading session before the Union Budget presentation on Sunday. The trend has become positive, according to technical analysts. On Thursday, the Nifty 50 ended at 25418.90 points, up 76.15 or 0.3%.  

Support for the Nifty 50 is expected at 25200 points and the resistance is pegged at 25700 points, Jatin Gedia, vice president of technical research at Teji Mandi Investment Technologies, said. The overall market trend has changed to positive, according to Gedia. "The sentiment has changed to buy-on-decline from sell-on-rise," Gedia said.

Overall, the Nifty 50 maintained its position above 50 exponential moving average on the hourly chart Thursday, Rupak De, senior technical analyst at LKP Securities, said. "With Friday being the last trading session ahead of the Budget, a relatively contained movement can be expected," he said in a note. 

The Nifty 50 is expected to find support at 25150 and resistance at 25500, according to Shrikant Chouhan, head of equity research at Kotak Securities. "As long as the market is trading above these levels, the pullback formation is likely to continue," Chouhan said in a note.  (Adhithya Aji)     

Equity Alert: Indices end higher for 3rd session, Nifty Metal leads gains

MUMBAI--1642 IST--Domestic benchmark indices ended higher on Thursday, their third consecutive sessions of gains. Despite the gains, only around 42% of the stocks traded on the NSE ended higher. Among sectoral indices, the Nifty Metal and Nifty Energy were the top gainers, while the Nifty Healthcare and Nifty FMCG were the worst performers. 

On Thursday, the Nifty 50 closed at 25418.90 points, up 76.15 points or 0.3% and the BSE Sensex closed at 82566.37 points, up 221.69 points or 0.3%. Tata Steel and Larsen & Toubro ended as the highest gainers in the Nifty 50 index, up around 4% each. Shares of Larsen & Toubro gained despite the company reporting a fall of 4% on year in its net profit and missing analysts' estimates. However, several brokerages have raised their target price on the stock due to strong order inflows. Asian Paints and SBI Life Insurance Company were the worst performers for the session ending around 4% and 3% lower, respectively. A rise in shares of Axis Bank and ICICI Bank, up over 3% and 1%, respectively, helped support the Nifty 50. A fall in shares of Reliance Industries, Tata Consultancy Services, and Mahindara & Mahindra, down 0.4-2.0%, limited the gains of the 50-stock index.

Shares of ABB India ended nearly 9% higher, with the company hitting a near six-month high during the session, after NDTV Profit reported that the order inflow of parent company ABB Global's India operations grew 49% on year in the December quarter. Analysts had estimated a rise of 20-26% for the parent company's India order inflows in the December quarter. Shares of National Aluminium Corp. and Siemens Energy India ended nearly 6% and over 5% higher, respectively.

Shares of KPIT Technologies ended nearly 6% lower after falling to an over nine-month low. The company reported a consolidated net profit of INR 1.33 billion for Oct-Dec, down 21% sequentially and nearly 29% on year. Motilal Oswal Financial Services ended over 5% lower, losing some of the gains it acquired after rising 8% to recover from a seven-session losing streak. The company reported a double-digit on-year rise in its bottom line for the December quarter. Shares of Canara Bank ended nearly 5% lower, among the worst performers in the Nifty 200, after reporting its earnings.

Shares of Hindustan Copper ended as the highest gainers on the Nifty 500, rising 20%. The stock has nearly doubled its value in the last two months due to a surge in copper prices. Demand for copper has gone up in recent times due to constrained supply from major copper mines, booming requirement for data centre needs, and tariff-related issues globally, according to analysts. Gujarat Mineral Development Corp. and GE Vernova T&D India ended nearly 11% and 9% higher, respectively, among the highest gainers in the Nifty 500 index.            

Shares of Five-star Business Finance were the worst hit in the Nifty 500, ending 11.5% lower for the session. This was after the company's net profit missed analysts' estimates, rising only 1% on year owing to the rising impairment on financial instruments and employee benefits expenses. The company reported a subdued performance for the December quarter, marked by muted disbursements and assets under management growth, Motilal Oswal said. Shares of KPR Mill and Jaiprakash Power Ventures were among the worst performers in the 500-stock index, falling nearly 7% and 6%, respectively. (Akshat Saksena)

Equity Alert: Nifty 50 Feb ends at premium of 120.10 points to spot index

MUMBAI--1545 IST--The February futures contract of the Nifty 50 closed at a premium of 120.10 points to the spot index. Open interest in the contract rose 7.9% to 17.89 million, according to provisional data.

--Nifty 50 closed at 25418.90 points, up 76.15 points or 0.3% vs Wed

--Nifty 50 February closed at 25539.00 points, up 88.60 points or 0.4% vs Wed

Nifty 50 options, expiring Tuesday, with maximum change in open interest:

Call: 26500, Put: 23300

Nifty 50 options, expiring Tuesday, with maximum open interest:

Call: 26000, Put: 23300

(Simran Rede)

Equity Alert: KPIT Tech falls over 6% after Q3 consol PAT down over 21% QoQ

MUMBAI--1539 IST--Shares of KPIT Technologies fell over 6% to INR 1,035, their lowest price in over nine months. The information technology company's consolidated net profit for the December quarter fell over 21% sequentially, due to a one-time cost on account of the changes in wage regulations under the new labour codes and on higher expenses. The stock closed around 6% lower at INR 1,042.80 on the National Stock Exchange. 

Earlier in the day, KPIT Tech reported a consolidated net profit of INR 1.33 billion for the December quarter, down over 21% on quarter and nearly 29% on year. This was also below the INR 1.94 bilion net profit estimated by the Street. The company's net profit for the quarter included a one-time cost of INR 597.12 million on account of implementation of the new labour codes. Excluding the impact of the one-time cost, the company's net profit for the quarter would have been INR 1.93 billion, largely in line with what analysts had expected. 

The company's top line for the reporting quarter rose nearly 2% sequentially and over 9% on year to INR 16.17 billion, slightly below the INR 16.21 billion expected by the Street. The 2% sequential growth in revenue this quarter was lower than the sequential top line growth in the trailing quarter. The company's total expenses for the quarter grew 4% sequentially to INR 14.07 billion, faster than its sequential revenue growth

The company's total deal contract value declined to $202 million in the December quarter from $232 million in the trailing quarter. Its consolidated earnings before interest, tax, depreciation, and amortisation for the quarter was INR 3.33 billion, down slightly from INR 3.35 billion in the trailing quarter. The company's consolidated earnings before interest and tax for the reporting quarter was INR 2.52 billion, down from INR 2.60 billion in the September quarter. Its EBIT margin for the reporting quarter also declined 80 basis points sequentially to 15.6%. (Arya S. Biju)

Equity Alert: European indices largely higher; investors assess key earnings

MUMBAI--1458 IST--Indices in Europe were largely higher. Investors continue to focus on earnings, with the likes of Deutsche Bank reporting their results for the quarter. Shares of SAP dragged down the German Dax Performance-Index after the company announced its fourth quarter results. 

Shares of German multinational software company SAP fell nearly 11% in early trade. The company's fourth quarter results showed its revenue from its cloud business fell short of expectations, CNBC said. Shares of Deutsche Bank fell nearly 3% during the session. The bank released its quarterly earnings a day after German authorities raided its offices in Berlin and Frankfurt as a part of a probe into money laundering. The company's net profit attributable to shareholders came in at 1.3 billion euros or $1.56 billion, beating estimates for the quarter.

Shares of Dutch multinational banking and financial services corporation ING Groep were down. The net profit attributable to shareholders came in at 1.40 billion euros or $1.68 billion, beating estimates as well. Shares of Swiss multinational holding healthcare company Roche were trading slightly lower after the company delivered mixed results for the quarter, CNBC reported.

Following were the levels of major European indices at 1455 IST:

(Akshat Saksena)

Equity Alert: Gillette India at one-month high after Q3 PAT jumps 37% YoY

MUMBAI--1457 IST--Gillette India recovered and rose 7% to a one-month high of INR 8,380 after the company declared its December quarter results. The company's net profit had risen 37% on year, supported by better sales growth and fall in raw material costs. Before the results were disclosed, the shares traded around 1% lower. At 1455 IST, the company's shares traded at INR 8,310, up 5.6%. Over 210,099 shares had been traded, which was sharply higher than 13,900 shares traded till the same time Wednesday

The company's net profit jumped nearly 37% on year to INR 1.72 billion. Its revenue from operations rose 15% on year to INR 7.90 billion. Sequentially, the net profit rose over 20% but sales fell around 3%. Total expenses rose over 7% to INR 5.65 billion. The cost of raw materials, which accounted for 27% of total expenses, fell 42% on year to INR 1.33 billion. (Gopika Balasubramanium)

Equity Alert: Asian indices recover; Hang Seng up for 7 straight sessions

MUMBAI--1417 IST--Asian indices largely recovered after falling earlier in the session. The Hang Seng was up for the seventh consecutive session after briefly falling during the session. South Korean automaker Hyundai reported worse-than-expected earnings for the fourth quarter as it was hit by US tariffs.

In Hong Kong, the Hang Seng was up on gains in shares of resource and property firms. Shares of property builders rose on media reports that developers do not have to turn in key metrics linked to the "three red lines" deleveraging campaign on a monthly basis, South China Morning Post said. These metrics were designed to rein in the debt buildup of these companies, a Bloomberg report said. Shares of Longfor Group Holdings and its peer China Overseas Land & Investment were up nearly 6% each. China's equity markets are expected to go through a "slow bull" phase over the coming 12 months, Kinger Lau, chief China equity strategist of Goldman Sachs, was quoted as saying in a media briefing on Wednesday.    

Hyundai Motor reported a fall of over 40% in its operating net profit for the December quarter to 1.7 trillion Korean won or $1.19 billion. This was far below expectations of 2.7 trillion ‌Korean won or $1.89 billion estimated by LSEG, Reuters reported. This marks a third consecutive sequential fall in the company's net profit. The company was hit by 25% tariffs on imported automobiles announced by US President Donald Trump in April. "Hyundai Motor expects the challenging global market conditions to continue this year, due to stagnant growth in the industry and intensifying competition across emerging ‍markets," the company was reported as saying. The hit from tariffs amounted to 4.1 trillion Korean won or $2.86 billion in 2025, more than offsetting the gain of 1.7 trillion won or $1.19 billion from the weaker local currency, Reuters said. However, shares of Hyundai were up over 7%. 

Following are the levels of key Asian indices at 1414 IST:

(Akshat Saksena)

Equity Alert: Indices recover sharply as fincl svcs, heavyweights gain

MUMBAI--1404 IST--Indices recovered from early losses as financial services and index heavyweight stocks extended gains, offsetting losses in the shares of automobile and fast-moving consumer goods stocks. Index heavyweights such as HDFC Bank and ICICI Bank reversed losses and were up 0.4%, supporting the rise of the Nifty 50 index.  

At 1404 IST, the Nifty 50 was at 25428.50 points, up 85.75 points or 0.3% and the BSE Sensex was at 82610.06 points, up 265.38 points or 0.3%. Finance Minister Nirmala Sitharaman tabled the Economic Survey for 2025-26 (Apr-Mar) in the Lok Sabha on Thursday. According to it, GDP is expected to grow 6.8-7.2% in FY27. The survey said that it does not hurt to have an undervalued rupee amid US tariffs.      

Larsen & Toubro continued to be the top gainers among the Nifty 50 constituents, up over 4%. Shares of NTPC, Tata Steel, Hindalco Industries, and Tata Motors Passenger Vehicles rose around 3% each. Bajaj Finserv, Kotak Mahindra Bank, and Bharti Airtel recovered to be 0.1-0.5% higher.       

Asian Paints was down over 3%, the worst hit in the Nifty 50 index. Autombile stocks such as Mahindra & Mahindra and Maruti Suzuki India were down over 2% each. FMCG stocks, namely Tata Consumer Products, Nestle India, Hindustan Unilever, and ITC were down 1% each. 

Among sectoral indices, the Nifty Metal was the top gainer, up over 3%, followed by the Nifty Energy, up over 1%. The Nifty Auto was the worst hit among sectoral indices, down over 1%. The Nifty Healthcare was down nearly 1%.      

Shares of KPIT Technology fell over 5% to a six-month low of INR 1,050. The stock fell after the company reported a net profit of INR 1.33 billion, missing analyst's estimate of INR 1.94 billion. The top line was INR 16.17 billion, below the Street's view of INR 16.21 billion.  

Canara Bank fell over 5% to be the worst hit in the Nifty 200 index. The bank detailed its December quarter results during market hours. The stock plummeted despite the bank reporting 26% on-year growth in its net profit at INR 51.55 billion. This was higher than analysts' view of INR 50.67 billion.

ABB India shares surged sharply after media reports said ABB Global, the parent company of ABB India, said the order inflow for India opeartions grew 49% on year during the December quarter. Analysts had estimated the growth in order inflows at 20-26%, according to a post by NDTV Profit on X. The stock rose over 9% and is among the top gainers in the Nifty 200 index.

Hindustan Copper continued its gaining momentum and was up 20% to be the top gainer in the Nifty 500 index. The stock hit an all-time high of INR 760.05. Shares of Five-star Business Finance fell nearly 12% to be the worst hit in the index. The stock hit an all-time low of INR 440.05.  (Adhithya Aji)

Equity Alert: ABB India up 9%; parent's India ops Oct-Dec order inflow up 49%

MUMBAI--1340 IST--Shares of ABB India jumped up to a three-month high of INR 5,547.50 after NDTV Profit reported that the order inflow of parent company ABB Global's India operations grew 49% on year in the December quarter. Analysts had estimated the growth in order inflows of ABB Global's India operations to be 20-26% for the period, NDTV Profit said in a post on social media platform X. The stock was up just 0.2% before it rose over 9%.

At 1340 IST, shares of ABB India were up over 9% at INR 5,499. Over 2 million shares of the company have changed hands so far on NSE, sharply higher than over 313,000 shares traded till the same time Wednesday. The stock was the top gainer in the Nifty 200 index.  (Adhithya Aji)

Equity Alert: L&T up 4%; brokerages positive on company's order inflow

MUMBAI--1305 IST--Shares of Larsen & Toubro rose 4% to a high of INR 3,944 on the NSE on Thursday. Several brokerages have raised their target price on the stock after the company's December quarter earnings, citing strong order inflow visibility. The engineering major reported a 4% on-year decline in its net profit for the reporting quarter at INR 32.15 billion. This was lower than analysts' estimate of INR 43.17 billion. However, had the company not incurred a one-time cost of INR 17.91 billion, its net profit would have risen to INR 50.06 billion, beating the Street view comfortably.

Nuvama Institutional Equities has raised its target price on the stock nearly 4% to INR 4,850 and maintained its 'buy' rating. The core operating profit margin has bottomed at nearly 8.2% and should sustain at around 8.5%, alongside a near 15% revenue growth through 2026-27 (Apr-Mar) to FY28 as more projects reach margin milestones, the brokerage said. It expects L&T to deliver a near 10% order inflow growth in FY26. The company expects Kuwait order delays as a temporary setback and expects re-tendering of those orders soon, the brokerage said. While hydrocarbon margins face near-term pressure, a recovery is expected over the next few quarters as stressed legacy projects are about to be completed, Nuvama said.

The company's prospective order pipeline was at INR 5.96 trillion. Its project execution momentum in infrastructure, hydrocarbon, and precision engineering space is expected to continue in the March quarter and enable L&T to surpass its revenue guidance of around 15% on year, ICICI Securities said. It expects the company's net profit to rise at a compound annual rate of 19.9% over 2024-25 (Apr-Dec) through FY28. "We believe, given the backlog growth and pick up in execution, there remains strong revenue growth over the medium term," the brokerage added. ICICI Securities has an INR 5,030 target price on the stock and maintained its 'buy' recommendation.

Emkay Global Financial Services has raised its target price on the stock by 9% to INR 4,800 while maintaining a 'buy' rating. The company is enhancing its hi-tech manufacturing capabilities, having entered a partnership with General Atomics Aeronautical Systems for the Eurodrone program, and preparing to jointly bid for the 5th generation of fighter aircraft under the advanced medium combat aircraft program. The brokerage said that this move positions the company for sustained long-term growth. The 7% on-year rise in the prospective pipeline for the March quarter is providing strong order inflow visibility for the company, the brokerage said.  (Eshitva Prakash)

Equity Alert: Tata Motors recovers after falling 2% ahead of Q3 results

MUMBAI--1302 IST--Shares of Tata Motors fell nearly 2% to an intraday low of INR 459.75 ahead of its Oct-Dec results before recovering and trading higher. The company is expected to report a net profit of INR 19.63 billion, down 11% on year based on Informist calculations. The company's top line is expected to rise 15% on year to INR 212.76 billion. 

The company's top line is likely to have been aided by a pickup in commercial vehicle sales seen in the recent quarters after a spell of subdued sales growth over multiple quarters. The company sold 115,577 commercial vehicles in the December quarter, up 21% on year. Domestic wholesale sales grew 18% on year and constitute over 90% of its despatches. The company's exports grew 70% on year. "The volume growth was driven (by) post monsoon pent-up demand, pick up from both retail customers and large transporters post GST (goods and services tax) cut," HSBC Global Research said in a note. The rise in contribution of heavy commercial vehicles to overall sales, along with an uptick in exports is likely to increase the average selling price of Tata Motors commercial vehicles. Its realisation per commercial vehicle is expected to rise over 2% to INR 1.99 million for the December quarter, the brokerage said.

In October, Tata Motors divided its passenger vehicle and commercial vehicle operations into two separate listed firms so that the needs of both segments could be fulfilled independently. Commercial vehicles accounted for 17% of the overall undivided Tata Motors' top line and 16% for the undivided entity's bottom line in 2024-25 (Apr-Mar).

At 1311 IST, shares of Tata Motors were trading nearly 1% higher at INR 471.70 on the National Stock Exchange. Nearly 8 million shares of the company have been traded on the bourse so far during the session, higher than nearly 7 million shares traded till the same time Wednesday.  (Akshat Saksena)

Equity Alert: Bharat Electronics shrs 3% lower despite PAT rising in Oct-Dec

MUMBAI--1210 IST--Shares of Bharat Electronics fell over 3% to a low of INR 438.25. Prabhudas Lilladher downgraded the stock to 'reduce' from its previous 'hold' recommendation, citing the sharp rise seen in the stock recently. The stock surged 9% in the previous session after the company reported its Oct-Dec results during market hours. The company reported a near 21% rise in its net profit for the December quarter at INR 15.90 billion and a near 24% rise in its revenue from operations at INR 71.22 billion. The company's total order book as of Jan. 28 stood at INR 734.50 billion. 

The company's management said it plans to sustain 15% growth in its revenue for the coming three to four years. "We want to see that year-end will be with the figures which we have committed to you, means revenue growth more than 15%, EBITDA margin definitely more than 27%, order inflow of 27,000 crore (INR 270 billion) plus," the management said.

Despite downgrading the stock to 'reduce', Prabhudas Lilladher is optimistic on the company's strong order backlog and multi-year pipeline. The government's focus on product indigenisation is also seen as a positive sign for the company's long-term prospects. The order intake for the Apr-Dec period stood at around INR 181 billion. The brokerage increased its target price on the stock slightly to INR 411, despite the downgrade. It raised its earnings per share of the company to INR 11 from INR 9.5 for FY27. 

Bharat Electronics maintains its position as a key beneficiary of large platform orders across the Army, Navy, and the Air Force, Motilal Oswal Financial Services said in a report. The company stands to benefit from large orders like Quick Reaction Surface to Air Missile or QRSAM, next generation corvettes, and Akash-New Generation along with base orders. Its strong addressable market can maintain over 15% growth in revenue over the next few years. Improving indigenisation levels and operating leverage benefits are likely to keep the company's margin performance strong, the brokerage said. It raised its target price on the stock by 4% to INR 520. The brokerage broadly maintained its earning estimates.

JM Financial Services remains positive on the company given its strong order backlog, steady margin profile, and healthy order prospects. The brokerage revised its earnings per share estimates by 2.3% for 2025-26 (Apr-Mar), 1.5% for FY27, and 2.6% for FY28 due to better margin visibility driven by higher inigenisation. The brokerage expects the company's revenue to rise at compounded annual rate of 17%, and the net profit to rise 16% over FY25 to FY28. The brokerage maintained an 'add' recommendation on the stock and raised the target price by 2% to INR 480.   

ICICI Securities expects the company's guidance of 15% CAGR growth rate for its revenue and margins of 27% on the conservative side. The brokerage expects compounded annual growth of 18% over FY25 to FY28 for its revenue and 29% for its margins. The brokerage also has an 'add' recommendation with a target price of INR 480. 

Brokerage Nomura expects the company's net profit to rise at a compounded annual growth rate of 14% over FY26 to FY28. It maintains its 'neutral' recommendation in light of rich valuations. The brokerage maintained its sales estimates but raised its earnings estimates by 2-3% due to higher operating leverage. It raised the target price by over 6% to INR 454.        

At 1207 IST, shares of Bharat Electronics were over 2% lower at INR 441.95 on the National Stock Exchange. Over 25 million shares of the company exchanged hands on the bourse so far during the session, higher than over 16 million shares traded till the same time Wednesday.  (Akshat Saksena)

Equity Alert: Five-Star dives 12% after muted Q3 earnings, missed estimates

MUMBAI--1206 IST--Shares of Five-Star Business Finance fell 12% to an intraday low of INR 441.45 on the NSE on Thursday after the company's net profit for the December quarter rose just 1% on year and missed analysts' estimates due to rising impairment on financial instruments and employee benefits expenses. Brokerage Motilal Oswal Financial Services was concerned about the company's asset quality amid continued deterioration.

Five-star reported a net profit of INR 2.77 billion, down 3% sequentially and lower than the INR 2.81 billion bottom line growth expected by analysts. Total revenue from operations rose to INR 8.15 billion, up 12% on year and nearly 2% on quarter. The company reported a subdued performance in the December quarter, marked by muted disbursements and assets under management growth, Motilal Oswal said. The company's asset quality has weakened and its gross non-performing assets and net non-performing assets have risen, and its credit costs have also increased. The company's net interest margin contracted around 35 basis points sequentially, primarily driven by a moderation in yields, the brokerage added.

Motilal Oswal may revise its estimates for the company after its earnings call later in the day. The brokerage is closely watching management commentary on measures to improve asset quality and its guidance on disbursements and assets under management growth.

All four brokerage recommendations available with Informist on the stock have a 'buy' recommendation with an average target price of INR 724.  (Eshitva Prakash)

Equity Alert: Indices off lows after falling more; IT, fincl svcs stocks dn  

MUMBAI--1106 IST--Benchmark indices fell more as information technology and financial services stocks extended losses. However, indices were able to recover slightly after heavyweights HDFC Bank and ICICI Bank came off their respective intraday lows. The Nifty 50 hit a low of 25159.30 points, weighed down by shares of Mahindra & Mahindra and Infosys. 

At 1106 IST, the Nifty 50 was at 25234.95 points, down 107.80 points or 0.4%. The BSE Sensex was at 81964.31 points, down 380.37 points or 0.5%. 

Larsen & Tourbro was the top gainer in the Nifty 50, up over 3%. The stock rose as brokerages raised their target price on the stock after the company reported its Oct-Dec results. Nuvama raised the target price on the stock to INR 4,850 from INR 4,680 due to the company's robust order pipeline of INR 5.92 trillion. The company reported a consolidated net profit of INR 32.15 billion for the December quarter, up 32% on year. However, the company missed analysts' estimate of a net profit of INR 43.17 billion.      

Shares of NTPC, Hindalco Industries, Oil and Natural Gas Corp., and Tata Steel were among the top gainers in the 50-stock index, up around 2% each. Asian Paints, Mahindra & Mahindra, InterGlobe Aviation and Titan Company were the worst hit in the index, down around 3% each. Financial services stocks SBI Life Insurance Co., Jio Financial Services, Bajaj Finance, and Bajaj Finserv were down 0.4-1%. 

Pharmaceutical stocks Dr. Reddy's Laboratories, Cipla, and Sun Pharmaceutical Industries were down 1–2%. Tata Consultancy Services, HCL Technologies, Infosys, and Tech Mahindra were down 1-2%. Shares of Bharat Electronics, which ended the session as the top gainer Wednesday, fell nearly 2%. 

Most metal stocks traded with gains. Shares of National Aluminium Co., Jindal Steel, Vedanta, and Steel Authority of India were up 1-4%.      

Among sectoral indices, the Nifty Metal was the top gainer, up nearly 2%. Gains in the sectoral index were led by Hindustan Copper, which rose over 16%. The stock was the top gainer in the Nifty 500 index. The stop continued its gaining momentum after the February copper contract hit a new high of INR 1,432.35 per kilogram on Multi Commodity Exchange. Nifty Consumer Durables was the worst hit among the sectoral indices, down over 2%. The losses in the stock of Titan Co., which fell over 3%, weighed down on the index. 

Shares of Oil India were the top gainers in the Nifty 200 index, up over 5%. Motilal Oswal Financial Services was the top loser, down 4%.    

Five-Star Business Finance was among the worst hit in the Nifty 500 index, down over 7%. The stock fell after the company reported a net profit of INR 2.77 billion for the December quarter, missing analysts' estimate of INR 2.81 billion.  (Adhithya Aji)

Equity Alert: Hind Copper stock price doubles in 2 mos as copper prices soar

MUMBAI--1100 IST--Shares of Hindustan Copper have almost doubled in two months amid a surge in copper prices. Demand for copper has gone up in recent times due to constrained supply from major copper mines, booming requirement for data centre needs, and tariff-related issues globally, analysts said. The three-month copper contract hit a new record high of $14,088.5 per tonne on the London Metal Exchange on Thursday and the Multi Commodity Exchange February copper contract hit a fresh record high of INR 1,432.35 per kilogram.

Shares of Hindustan Copper rose almost 18% to an all-time high of INR 745 on the NSE on Thursday. Investors may be looking towards a new safe haven alternative after a surge in gold and silver prices recently, Ajay Kedia, director at Kedia Advisory said. The recent supply disruptions from mines of Indonesia, Chile, and the Democratic Republic of the Congo have been an important contributor to driving the red metal's prices, he said.

An investment super-cycle in data centres is driving the need for copper as an alternative to silver for electricity conduction needs, Kedia said. The analyst believes copper is seeing a "substitution effect," which has increased its demand in the near-to-medium term. Recently, Chinese module manufacturer Longi has said it will move towards copper-based metallisation as rising silver prices and cost pressures weigh on its solar manufacturing supply chain.

HDFC Securities and Anand Rathi Share and Stock Brokers have a 'buy' rating on Hindustan Copper with a target price of INR 320 and INR 450, respectively. (Eshitva Prakash)

Equity Alert: Shares of ITC fall slightly ahead of Oct-Dec earnings

MUMBAI--1055 IST--Shares of ITC fell around 1% to the day's low of INR 318.05 ahead of the compay's December quarter earnings later in the day. At 1037 IST, shares of the company were 0.8% lower at INR 318.75 on NSE.

The company's earnings for Oct-Dec are expeted to grow steadily on the back of resilient cigarette sales volume, sustained momentum in the fast-moving consumer goods business, and a strong performance in the agri-business segment. Analysts expect the company to post an over 5% on-year increase in net profit for the reporting quarter at INR 51.5 billion. Its revenue is expected to rise over 8% on year to INR 185 billion.

Most brokerage firms expect the company to maintain 5-7% volume growth in the cigarettes business, which accounts for nearly 75% of its annual profits, during Oct-Dec. ITC's cigarette business accounts for 45% of its overall sales as well.

So far, 4 million shares of the company have changed hands on the exchange, lower than over 9 million shares traded till the same time Wednesday.

Of the 13 brokerage reports available with Informist on the company, seven have a 'buy' recommendation on the stock with an average target price of INR 462. Of the remaining six, four have a 'hold' recommendation with an average target price of INR 394 and two have a 'sell' recommendation.  (Arundathi A R)

Equity Alert: Maruti Suzuki down 4% on below view earnings, target price cut

MUMBAI--1020 IST--Shares of Maruti Suzuki India fell nearly 4% to an over three-month low of INR 14,353 after the company's December quarter net profit and revenue missed Street estimates. Several global and domestic brokerages have cut their target price on the stocks owing to higher commodity prices and lower gross margins, but many have maintained a positive outlook for the company's future growth. Shares of the company have declined for the past seven sessions, during which, they have fallen over 9%.

Brokerage Nomura has cut its target price on the stock by nearly 5% to INR 16,118 and maintained a 'neutral' recommendation. The brokerage has cut the company's earnings before interest and tax margins by 80-120 basis points over 2025–26 (Apr-Mar) through FY28 to 8.6-9.7% after the company's adjusted EBIT margin of 8.9% in the December quarter came below the brokerage's estimates of 9.9%. This revision was largely due to higher cost pressures, which has also led Nomura to cut its earnings per share estimate to the company by 8-11% for the same period. The company's focus is on driving volumes in lower segments as it is undertaking capacity expansion and also has a much higher market share at lower price points, the brokerage said. This will likely come at the cost of margins as costs have flared up, the brokerage said.

Nuvama Institutional Equities has maintained its 'buy' recommendation on the stock but cut the target price 9% to INR 18,300. The brokerage said that the company's financial performance was below expectation due to lower realisations and lower gross margins. Nuvama has cut its earnings per share estimate on the stock by up to 8% for FY26–FY28. However, the brokerage expects a compound annual growth revenue of 6% in FY26 due to benefits from a cut in goods and services tax, new products, upcoming pay commission for government employees, interest rate cuts, and robust exports. The brokerage said that the company has strong medium-term prospects due to improving passenger vehicle penetration, new launches, and a recovery in hatchback demand.

Emkay Global Financial Services has cut the stock's target price by 4.5% to INR 17,000 and also cut its FY26-FY28 earnings per share estimates by 6.5–7.5% on rising commodity prices. We remain positive on Maruti Suzuki with its future prospects aided by its aggressive product cycle targets and expectations of a rebound in small cars after years of muted demand, the brokerage added.  (Eshitva Prakash)

Equity Alert: Fino Payments Bank down 3% ahead of Oct-Dec earnings

MUMBAI--1010 IST--Shares of Fino Payments Bank fell almost 3% to a low of INR 220 ahead of its December quarter earnings. The payments bank is expected to report a sharp year-on-year fall in the net profit for the quarter under review, Emkay Global Financial Services, which has an 'add' recommendation on the stock, said in a preview report. At 1003 IST, shares of Fino Payments Bank traded at INR 223, down 1.6%.

The bank's net profit is expected to fall 40% on year and 10% on quarter to INR 138 million, according to Emkay. The payments bank's net interest income is expected at INR 342 million, rise above 44% on year and over 5% sequentially. During this quarter, Fino Payments Bank received approval from the Reserve Bank of India to transition into a small finance bank.

Bank's earnings before interest, tax, depreciation, and amortisation are expected at INR 185 million, down over 35% on year and 13% on quarter. The payment bank's capital adequacy ratio as of Sept. 30 was 77.19%. In the September quarter, the bank opened 910,000 accounts, highest ever for a quarter, according to bank's investor presentation.

For the September quarter, the payments bank's net profit was INR 154 million and revenue INR 4 billion. Shares of the bank have fallen 25% since its September quarter results were announced. Emkay has a target price of INR 330 for the stock, which is an upside of 48% from the current price.  (Durgesh Nandan)

Equity Alert: Indices open flat before falling sharply; IT, heavyweight cos dn

MUMBAI--0952 IST--Domestic benchmark indices opened flat Thursday but fell sharply thereafter, wieghed down by losses in the shares of information technology and financial services companies. Index heavyweights HDFC Bank and ICICI Bank fell 1% each and dragged down the Nifty 50 index. 

At 0940 IST, the Nifty 50 was at 25232.40, down 110.35 or 0.4% and the BSE Sensex was at 81917.09, down 427.59 points or 0.5%. Larsen & Toubro was the top gainer among Nifty 50 constituents, up over 2%. It was followed by Oil and Natural Gas Corp., Hindalco Industries, Tata Steel, Power Grid Corp. of India, and NTPC, up over 1-2%.  

Maruti Suzuki India was the worst hit in the 50-stock index, down 3%. The stock fell for the seventh consecutive session. On Wednesday, the Alto-maker reported a consolidated net profit of INR 37.94 billion for the December quarter and missed analysts' estimate of INR 46.55 billion. The top line of the company was at INR 498.92 billion, below the Street's estimate of INR 509.74 billion. The stock was the worst hit in the Nifty 200 as well. 

Information technology companies Infosys, HCL Technologies, Tech Mahindra, and Tata Consultancy Services were down 1% each. Financial services stocks HDFC Life Insurance Co., Kotak Mahindra Bank, SBI Life Insurance Co. were down 1-3%. Shares of Bharat Electronics, Asian Paints, Titan Co., and Hindustan Unilever were down 2% each.

Among broader market indices, barring the Nifty Smallcap 50 and Nifty Smallcap 100, which rose 0.1% and 0.2% respectively, all the other indices were in the red. 

Shares of Oil India were the top gainer in the Nifty 200 index, up nearly 5%, followed by Hitachi Energy India, up nearly 4%. Hindustan Copper rose over 10% to be the top gainer among Nifty 500 constituents. The stock rose after copper prices were up sharply on London Metal Exchange due to weak dollar and limited activity in the Chinese market, Dow Jones reported.  

Motilal Oswal Financial Services fell over 4% to be the worst hit in the Nifty 200 index and Dr. Agarwals Health Care was the worst hit in the Nifty 500 index, down over 4%.  (Adhithya Aji)

Equity Alert: Indices seen range-bound Thu amid weak global cues

MUMBAI--0840 IST--Benchmark indices are expected to be range-bound Thursday after the US Federal Open Market Committee decided leave the federal funds target rate range unchanged at 3.50–3.75%. However, market sentiment remains cautious, with equity markets in Asia opening lower on weak global cues.

Overnight, indices in the US closed flat. The S&P 500 snapped a five-session winning streak, ending marginally lower. Meanwhile, the technology stocks-laden Nasdaq Composite rose slightly and ended higher for the sixth straight session, boosted by gains in chip stocks. Investor reactions were muted after the US Federal Reserve ‌kept interest rates unchanged with an unclear outlook on the interest rate trajectory going ahead, Reuters reported. 

The US central bank's decision to hold key rates amid geopolitical uncertainties and comments by US President Donald Trump demanding rate cuts, was in line with Street estimates. However, the decision to pause the rate cut cycle was not unanimous, as two US Fed officials – Stephen Miran and Christopher Waller – voted in favour of a 25-basis-point rate cut.

The Gift Nifty contract suggests a muted open for the Nifty 50 index Thursday and analysts have cautioned about volatility ahead of the Budget. At 0826 IST, the GIFT Nifty's February contract was at 25381.50 points, almost 39 points higher than the Nifty 50's close of 25342.75 points. The BSE Sensex closed at 82344.68 points, up 487.20 points or 0.6%. The Nifty 50 is seen facing immediate resistance at 25450 points and finding support at 25100 points. 

Shares of Anil Ambani-owned Reliance group companies will be in focus after the Enforcement Directorate attached assets worth INR 18.85 billion. The central agency has detected fraudulent diversion of public money by various group companies including Reliance Communications, Reliance Home Finance, Reliance Commercial Finance, Reliance Infrastructure and Reliance Power, according to the authority's press release.

Government-owned defence major Bharat Electronics' net profit for the December quarter rose nearly 21% on year to INR 15.90 billion, beating analysts' projections. Nuvama Institutional Equities has retained a 'buy' rating due to strong order book visibility and cost efficiencies, while raising its target price on the stock by 1% to INR 525.  (Eshitva Prakash)

Equity Alert: Asia mkts dn; Singapore Straits falls after touching fresh highs

MUMBAI--0827 IST--Asian equity indices were down Thursday, with the FTSE Singapore Straits Times Index slightly lower after hitting fresh highs during the session. The country's central bank left policy rates unchanged. Investors in the region will monitor the IDX Composite index after Goldman Sachs lowered Indonesia to underweight. 

The central bank of Singapore left its policy rates unchanged and pointed towards upside risks to inflation and demand as the country's economic outlook remains resilient, CNBC reported. The Monetary Authority of Singapore will maintain the existing rate of appreciation for its exchange rate-based policy band, Reuters reported. "The risks to the growth and inflation outlook are tilted to the upside at this point. Persistently stronger-than-expected GDP growth could lead to higher wage growth and boost consumer sentiment, exacerbating demand-pull inflationary pressures," the authority was quoted as saying. 

The decision came as preliminary data showed Singapore's economy grew 4.8% in 2025, beating the government's forecast of 4%, while its core inflation was 1.2% on year in December, in line with analysts' estimates in a Reuters poll. The central bank raised its core and headline inflation forecasts to 1-2% for both from 0.5-1.5%.  

Goldman Sachs lowered Indonesia's rating to underweight due to expectations of more passive selling, the investment bank was reported as saying by CNBC Thursday. The bank regarded this as an overhang that would act as an obstacle to the market's performance. The IDX Composite was trading 8% lower during the session.

Shares of Samsung were trading 1% lower during the session. This was after the rose 2.6% at open as the company's operating profits surged over threefold and beat analysts' estimates, with memory chip storage and strong demand for artificial intelligence servers lifting earnings for the quarter, CNBC reported. The company's net profit came in at 20.10 trillion Korean won or $14.07 billion. The company's revenue came in at $65.58 billion, rising 24% on year. 

Following are the levels of key Asian indices at 0822 IST:

(Akshat Saksena)

Equity Alert: US indices end flat-to-higher Wed; US Fed keeps rates unchanged

MUMBAI--0746 IST--US equity indices ended flat-to-higher Wednesday with the S&P 500 surpassing the 7000-point benchmark for the first time before ending in the red. The Nasdaq Composite and Dow Jones Industrial Average ended just a touch higher.

The US Federal Open Market Committee kept its benchmark rates unchanged at 3.50–3.75% in line with estimates. US Treasury yields moved higher. The country's central bank said economic activity has been expanding at a solid rate, with the unemployment rate showing signs of stabilisation, CNBC reported. "I think, and many of my colleagues think, it's hard to look at the incoming data and say the policy is significantly restrictive at this time," US Federal Reserve Chair Jerome Powell was reported as saying.

The central bank is expected to keep its rates unchanged until Powell's tenure comes to a close in May, according to Jed Ellerbroek of Argent Capital Management, CNBC reported. "There's a little bit of tension between inflation being a little bit higher than they want and unemployment rising, and so they're in a roughly neutral position, and they're comfortable sitting there until the data changes and forces them to pick a side," the analyst was reported as saying. "The ball moves into President Trump's court now, because he will be nominating the new Fed chair," he added. 

Shares of Seagate Technology surged 19% after the company's quarterly earnings and revenue beat analysts' expectations. Chief Executive Officer Dave Mosely cited strong demand for artificial intelligence data storage as the reason behind the strong numbers for the quarter. ASML Holding also reported record orders and gave optimistic guidance for 2026 due to the AI boom, CNBC reported. However, shares of the company ended 2% lower. Shares of Starbucks ended 0.6% lower. The company managed to beat expectations for its revenue at $9.92 billion against estimates of $9.67 billion, but its earnings per share came in at $56 cents against estimates of $59 cents, according to a report by CNBC citing estimates from LSEG. 

Microsoft, Meta Platforms, Tesla announced their earnings after the closing bell. Meta's revenue for the quarter came in at $59.89 billion against estimates of $58.59 billion estimated by LSEG, CNBC said. Meta also said it expects its first quarter sales for 2026, to come in the range of $53.50 billion and $56.50 billion, more than $51.41 billion estimated by analysts. Microsoft reported a revenue of $81.27 billion against $80.27 billion estimated by LSEG, CNBC said. Tesla reported a revenue of $24.90 billion against estimates of $24.79 billion by LSEG. "Auto sales have been sluggish in recent quarters for Tesla, as the company faces an onslaught of competition in various parts of the world, most notably from BYD in China," CNBC said. 

Following are the closing levels of US indices Wednesday:  

(Akshat Saksena)

US$1 = INR 91.96

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Tanima Banerjee

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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