Equity Alert
Shipping Corp surges 14% after Q3 consol PAT jumps 5-fold YoY
This story was originally published at 11:07 IST on 9 February 2026
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Equity Alert: Shipping Corp surges 14?ter Q3 consol PAT jumps 5-fold YoY
MUMBAI--1059 IST--Shares of Shipping Corp. of India surged over 14% to an over-two-month high of INR 252.94. The sharp gains in the stock followed the company's robust earnings for the December quarter. At 1057 IST, shares of the company traded 12.3% higher at INR 249.10.
For the reporting quarter, the company Friday reported a fivefold on-year jump in its consolidated net profit at INR 4.05 billion. Its revenue rose 22.5% on year to INR 16.12 billion. A nearly 2?ll in the company's total expenses and an over 22% rise in revenue helped the net profit surge on year. The company also declared interim dividend of INR 3.5 per share and set the record date for the same as Feb. 17.
So far Monday, over 29 million shares of the company have changed hands on the NSE, sharply higher than the 490,441 shares traded during the same period on Friday. (Simran Rede)
Equity Alert: Kalyan Jewellers up around 12?ter robust Oct-Dec earnings
MUMBAI--1055 IST--Shares of Kalyan Jewellers rose nearly 12% to a high of INR 424.70 after the company reported strong earnings for the December quarter, with its consolidated net profit surging over 90% on year and revenue rising over 24%. At 1048 IST, the stock was up over 10% at INR 419.20 on the National Stock Exchange. So far in the day, over 25 million shares of the company have changed hands on the NSE, compared to the 1.6 million shares traded till the same time Friday.
The Kerala-based jewellery maker's consolidated net profit for the December quarter jumped over 90% on year and around 60% sequentially to INR 4.16 billion. Its consolidated revenue for the quarter rose over 42% on year and around 32% sequentially to INR 103.43 billion.
The company expects to end the current financial year on a strong note, despite the continuing volatility in prices of precious metals, due to strong traction and higher consumption amid the ongoing wedding season in India, its management said in a post-earnings call with analysts and investors.
Brokerage Motilal Oswal Financial Services, remains constructive on the company's business because of its consistent success in customer acquisition, improving operating margin, and deleveraging balance sheet, it said in a report Monday. Meanwhile, delay in showroom expansion and potentially higher competitive intensity in core South Indian markets are seen as the key risks for the company, ICICI Securities said.
The two brokerage reports on the company available with Informist have a 'buy' recommendation on the stock with target prices INR 650 and INR 775. (Arya S. Biju)
Equity Alert: Nuvama ups Kaynes Tech to 'buy' after co's Q3 PAT rose 15% YoY
MUMBAI--1025 IST--Brokerage Nuvama Institutional Equities has upgraded Kaynes Technology India to 'buy' from 'hold' after the company posted an over-15% on-year rise in its consolidated net profit for the December quarter. The brokerage has a target price of INR 5,200 on the stock. The brokerage cuts the net profit estimates for 2025–26 (Apr-Mar) by 4% and for FY27 by 15% to reflect December quarter performance and outlook. The stock rose nearly 5% to the day's high of INR 3,875 and was up for the second session.
Prabhudas Lilladher has maintained a 'buy' recommendation on the stock and cut its earnings estimate for FY27 by 2.7%. It has also tweaked estimates for FY28. The brokerage has reduced the target price marginally to INR 5,502. Prabhudas estimated a compound annual growth rate of 45.2% for the company's revenue from FY26 to FY28. It also estimated a 44.3% and 37.7% compound annual growth for its earnings before interest, tax, depreciation, and amortisation and net profit, respectively, for the same period.
"Considering Q3 (Oct-Dec) performance, we cut our revenue estimates by 8?ch, and APAT estimates by 10-12% for FY26-28E," HDFC Securities said in its report. The brokerage has maintained a 'reduce' recommendation with a revised target price of INR 4,030 from INR 4,530.
Kaynes Technology has reported its consolidated net profit for the December quarter at INR 766.42 million. Its consolidated revenue for the quarter rose nearly 22% on year to INR 8.04 billion.
At 1022 IST, shares of Kaynes Technology were trading nearly 4% higher at INR 3,830 on NSE. So far, over 1 million shares of the company have changed hands on the exchange, lower than over 2.5 million shares traded till the same time Friday.
Of the seven brokerage reports available with Informist on the company, six have a 'buy' recommendation with an average target price of INR 6,320 while the remaining one has a 'hold' recommendation. (Arundathi A.R.)
Equity Alert: Nuvama, Nirmal Bang trim Jubilant Pharmova target price 13–16%
MUMBAI--1000 IST--Nuvama Institutional Equities and Nirmal Bang Institutional Equities have cut their target prices for Jubilant Pharmova by 16% and 13%, respectively, to INR 1,300 and INR 1,175. However, both the brokerages have retained a 'buy' rating on the stock. At 0956 IST, shares of Jubilant Pharmova were down over 3% at INR 905.75 on the National Stock Exchange.
Nuvama expects the company's near-term performance to be impacted by remediation or shutdown of its facility at Montreal in Canada, supply shortages of single-photon emission computed tomography products and higher depreciation. During the December quarter, the company had incurred a cost of INR 443 million pursuant to the temporary suspension of manufacturing operations for remediation of official action indicated observations at its Montreal contract manufacturing facility. The brokerage also reduced its estimates for the company's earnings before interest, taxes, depreciation, and amortisation for 2025-26 (Apr-Mar) and FY27 by 11-12% and that for profit after tax by more than 20%.
US tariff developments remain supportive for Jubilant Pharmova, given its US-based sterile injectables footprint, Nirmal Bang said. However, near-term execution issues and margin volatility warrant a more measured valuation, the brokerage added. While operations at the Montreal facility resumed during the March quarter, the cost base remains elevated in the near term, with operating leverage from the ramp-up in the Spokane manufacturing facility expected to build up progressively rather than immediately, Nirmal Bang said.
Nirmal Bang has reduced its estimates for the company's EBITDA for FY27 and FY28 by 10% and 8%, respectively. Its revenue estimates were cut by 1.4–2.3% and its PAT estimates were cut by 11–15% for FY27 and FY28. The brokerage has factored in a lower margin trajectory driven by a sustained increase in employee and material costs, unfavourable business mix, and slower-than-expected margin normalisation in the contract development and manufacturing organisation sterile injectables business in these estimates, it said. (Arya S. Biju)
Equity Alert: Indices open higher on India-US trade deal optimism; SBI up 6%
MUMBAI--0945 IST--Benchmark equity indices opened higher after the release of the joint statement on the recently concluded India-US trade deal, in which the US is set to cut reciprocal tariffs on Indian goods to 18% from 25%, lifted sentiment. This trade deal is also seen as a $30-trillion market opportunity for Indian exporters. The Nifty 50 was supported by gains in the stock of State Bank of India, which rose nearly 6% on the back of strong December quarter earnings.
At 0936 IST, the Nifty 50 was at 25799.40 points, up 105.70 points or 0.4%, and the BSE Sensex was at 83917.79 points, up 337.39 points or 0.4%.
State Bank of India was the top gainer in the Nifty 50 index. Dr. Reddy's Laboratories was the second-highest gainer, up nearly 2%. Shares of Tata Steel, Eternal, Titan Co., Adani Enterprises, and Hindalco Industries were up 1?ch. Financial services stocks like Jio Financial Services, Shriram Finance, SBI Life Insurance Co., and Kotak Mahindra Bank were up 1?ch.
Shares of State Bank of India rose after the bank reported a net profit of INR 210.28 billion and total income of INR 1.41 trillion, both 4% higher sequentially. Moreover, the state-owned bank has also revised its credit growth guidance for 2025-26 (Apr-Mar) due to robust demand for credit across segments.
Max Healthcare Institute and Eicher Motors were the worst performers on the 50-stock index, down 1?ch. Fast-moving consumer goods stocks of ITC, Nestle India, and Hindustan Unilever were down nearly 1?ch.
Kalyan Jewellers was the top gainer among the Nifty 200 constituents, up 11%. The stock rose after the jewellery seller reported a consolidated net profit of INR 4.16 billion for Oct-Dec, up over 90% on year, on a revenue of INR 103.43 billion, up over 42% on year. The stock was one of the top gainers among Nifty 500 constituents as well.
In contrast, Siemens was the worst hit in the Nifty 200 index, down over 3%. The consolidated net profit of the company for the December quarter fell nearly 55% on year to INR 2.77 billion.
Shipping Corp. of India rose 13% to be the top gainer in the Nifty 500 index. The stock rose after the consolidated net profit of the company rose five-fold on year to INR 4.05 billion for the December quarter. Sarda Energy & Minerals was the worst hit in the Nifty 500 index, down nearly 4%. (Adhithya Aji)
Equity Alert: Indices seen higher after India-US trade deal joint statement
MUMBAI--0827 IST--Benchmark equity indices are posied to see a gap-up open Monday after India and the US Saturday released a joint statement on the recently concluded trade deal. The market will also track sharp gains in the US market on Friday and Asian indices in early trade Monday.
The US-India trade deal is seen as a big boost for India's labour-intensive export sectors. "It is important to understand that India has a $41 billion export surplus in trade with the US," V.K. Vijayakumar, chief investment strategist at Geojit Investments, said. "This may come down as we import more energy, defence and aviation-related goods and high technology stuff from the US," he said.
Following this positive development on the long-awaited trade deal with the US, the GIFT Nifty contracts gained over 224 points from the Nifty 50's previous close, indicating a rise in the index Monday. The resistance for Nifty 50 is pegged at 25850-26000 points while its support is pegged at 25600-25550 points, according to Vipin Kumaar, assistant vice president – technical and derivatives at Globe Capital Market. On Friday, the 50-stock index had closed 0.2% higher at 25693.70 points and the BSE Sensex had ended 0.3% up at 83580.40 points.
On Friday, US indices rebounded after the major sell-off in artificial intelligence stocks subsided. Indices in Asia surged in the early trade Monday after Japan's Prime Minister Sanae Takaichi registered a historic win in the recent snap election, boosting expectations that she will pursue drastic fiscal changes to strengthen Japan's economy.
Back home, shares of Tata Steel and State Bank of India will be in focus after the companies reported their December quarter earnings on Friday and Saturday. SBI reported better-than-expected net profit for the quarter on the back of the biggest annual jump in other income in 10 quarters. The bottom line of Tata Steel jumped over eight times on year as its expenses grew at a slower pace than its revenue. (Simran Rede)
Equity Alert: Equity indices in Asia rise, Nikkei hits fresh high
MUMBAI--0813 IST--Equity indices in Asia were higher, with Japan's Nikkei 225 and Topix First Section surging to record highs after Sanae Takaichi secured a historic victory in the snap elections, catapulting investor sentiment in the region. A recovery on Wall Street also contributed to the gains in the region.
The Liberal Democratic Party of Japan secured two-thirds of the majority in the 465-seat lower house, CNBC reported, citing a report by Japanese broadcaster NHK. A strong win for Takaichi could be the "best outcome" for the markets in the medium term as strategic investments and tax reform help boost the equity markets, Sree Kochugovindan, senior research economist at Aberdeen Investments, was reported as saying. The country's indices have hit several highs in the last few months, led by "Takaichi Trade", with markets expecting the prime minister's economic policy to thrust the stock markets and keep the yen weaker while pushing for a looser monetary policy and higher government spending. CyberAgent Inc was among the top gainers, up over 8%, on the Nikkei. Shares of semiconductor maker Advantest Corp. were up nearly 14% and those of Sumitomo Electric Industries were up nearly 11%.
US equity indices also gained on Friday, helping lift Asian equity indices, though concerns remain over investments in artificial intelligence companies and whether they will be able to provide returns. This comes as four US tech giants plan to spend $650 billion towards AI alone, Reuters reported. "Investors are sensibly rotating from AI spenders to beneficiaries, services to manufacturing, US exceptionalism to global rebalancing," BofA analysts were reported as saying. "We are long Main St, short Wall St," they added.
Following are the levels of key Asian indices at 0810 IST:
|
INDEX |
LEVEL |
CHANGE IN % |
|
CSI 300 Index |
4704.21 |
1.31 |
|
Hang Seng Index |
27038.76 |
1.80 |
|
KOSPI |
5313.48 |
4.41 |
|
Nikkei 225 Day |
56692.92 |
4.50 |
|
TOPIX FIRST SECTION |
3788.83 |
2.43 |
|
FTSE Singapore Straits Times |
4973.31 |
0.79 |
|
S&P/ASX 200 Index |
8877 |
1.93 |
| IDX Composite | 7908.55 | (-)0.34 |
(Akshat Saksena)
Equity Alert: US indices bounce back; Dow Jones index crosses 50,000 points
MUMBAI--0735 IST--Equity indices in the US made a comeback on Friday after ending lower for a couple of sessions due to fears of artificial intelligence disrupting businesses of services software companies. The Dow Jones Industrial Average index crossed 50,000 points for the first time on Friday.
Shares of NVIDIA and Broadcom were among the top gainers, up 8% and 7%, respectively, CNBC reported. Shares of Oracle and Palantir were also among key gainers, rising nearly 5?ch. However, shares of software companies threatened by AI such as ServiceNow, down 2%, remained weak. "We're in a gold rush right now with AI," Falcon Wealth Planning founder Gabriel Shahin was reported as saying. Shahin believes that the market is in the middle of a "great recalibration" where investors are going to move away from growth stocks and into value, CNBC said. On Friday, investors lapped up industrial and financial stocks. Shares of Caterpillar were up over 7% and those of Goldman Sachs rose over 4%.
Shares of Amazon were down nearly 6?ter the company missed the Street's view of its earnings per share for the quarter. The tech giant reported revenue of $213.39 billion against an expectation of $211.33 billion and earnings per share of $1.95 against an estimate of $1.97 by LSEG, CNBC said. The company also said it would record capital expenditures of around $200 billion in 2026 against an expectation of $146.60 billion, according to Factset. The company made a capital expenditure of around $131 billion in 2025.
Investors are expected to await a monthly employment report and a consumer prices report as these were pushed back slightly on account of the three-day government shutdown in the US. The non-farm payrolls data in the US for January is expected to report an increase of 70,000 jobs, Reuters said citing its poll. Even after acknowledging the stabilisation in the job market, the US Federal Reserve held its interest rate steady at its meeting after a survey showed layoffs by US employers surged in January.
Following are the closing levels of US indices Thursday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6932.30 |
1.97 |
|
NASDAQ Composite |
23031.21 |
2.18 |
|
Dow Jones Industrial Average |
50115.67 |
2.47 |
(Akshat Saksena)
US$1 = INR 90.49
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta
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