Equity Alert
BSE hits new high on Q3 results, rise in index options mkt shr
This story was originally published at 14:57 IST on 10 February 2026
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Equity Alert: BSE hits new high on Q3 results, rise in index options mkt shr
MUMBAI--1454 IST--BSE shares rose 7% to a record high of INR 3,188.40 Tuesday, on the back of its robust December quarter earnings and increase in market share in index options. It was the top gainer among Nifty 200 stocks. Moreover, worries about the potential impact of the hike in Securities Transaction Tax on its earnings were allayed after the exchange's management said in a conference call that they do not see specific impact on Sensex futures. At 1454 IST, the company's shares were up 6.4% at INR 3,174.60.
The management said the STT adjustments by the finance minister in the Union Budget appear to be realigning investors' focus towards long-term equity investment and "healthier market liquidity". The management said whenever STT charges are increased for options, it has not had any "meaningful impact on the volumes and volumes have continued as before."
As for earnings, BSE's total revenue from operations in the December quarter rose 61% on year to INR 13.28 billion. Its net profit nearly tripled on year to INR 6.02 billion. The jump in net profit was despite a 41% on-year rise in overall expenditure to INR 5.11 billion. The rise in total expenses was primarily due to costs towards regulatory contribution, which almost doubled to INR 1.87 billion.
Despite swapping the expiry day in September, BSE's market share in average daily premium turnover volume of index options improved 227 basis points on quarter to 29.4%, which led to surge in revenue, Nuvama Institutional Equities said. Owing to strong volumes, the brokerage has raised its target price for BSE to INR 3,760 by 20%. (Gopika Balasubramanium)
Equity Alert: RailTel shares up 8?ter company reports INR 4.55-bln order
MUMBAI--1430 IST--Shares of RailTel Corp. of India rose almost 8% to an intraday high of INR 358.60 on the NSE after the company reported receiving a letter of acceptance for a hefty order from West Central Railway. Shares of the company were up for the second consecutive day. In this period the stock has risen as much as 11%.
Through an exchange filing Monday, the company said it has received a letter of acceptance from West Central Railway for a project worth INR 4.55 billion. The project is expected to be completed by Sept. 24, 2028. For the December quarter, RailTel reported a net profit of INR 624 million on a revenue of INR 9.13 billion.
The company released its December quarter earnings after market hours Feb. 2. Since then, the company's stock has risen nearly 4%. (Eshitva Prakash)
Equity Alert: Most Asian indices end up; Nikkei 225, TAIEX hit fresh highs
MUMBAI--1425 IST--Most equity indices in Asia ended higher, led by gains in Japanese indices, which extended their rally after Prime Minister Sanae Takaichi's decisive victory in the snap election over the weekend. The Japanese benchmark index, Nikkei 225 Day, the TOPIX First Section, and Taiwan's TAIEX rallied to fresh record highs during the session, rising 2-2.8%.
The broader MSCI index of Asia-Pacific shares outside Japan closed over 2% higher at 784.44 points. Japan's Nikkei 225 closed over 2% higher at 57650.54 points, extending gains for the third session running. The TOPIX and TAIEX closed 1.9% and 1.8% higher, respectively. The Japanese yen also strengthened against the dollar for the second day.
South Korea's KOSPI closed 0.1% higher while the small-cap index KOSDAQ closed over 1% lower. Hong Kong's Hang Seng Index
ended the session up 0.6% and mainland China's CSI 300 Index closed 0.1% higher. At 1420 IST, Australia's S&P/ASX 200 and Singapore's FTSE Singapore Strait Times were both slightly lower.
Shares of Japanese multinational investment holding company Softbank Group Corp. rose as much as 12?ter its subsidiary upgraded its full-year forecasts for the financial year ending Mar. 31.
Following are the levels of key Asian indices at 1420 IST:
|
INDEX |
LEVEL |
CHANGE IN % |
|
CSI 300 Index |
4724.30 |
0.11 |
|
Hang Seng Index |
27183.15 |
0.58 |
|
KOSPI |
5301.69 |
0.07 |
|
Nikkei 225 Day |
57650.54 |
2.28 |
|
TOPIX FIRST SECTION |
3855.28 |
1.90 |
|
FTSE Singapore Straits Times |
4958.1 | 0.06 |
|
S&P/ASX 200 Index |
8867.4 |
0.03 |
| IDX Composite | 8123.10 | 1.14 |
(Arya S. Biju)
Equity Alert: Indices remain higher; auto, metal cos gain
MUMBAI--1345 IST--Benchmark equity indices remained higher, supported by the gains in shares of Eternal. Gains in some automobile companies such as Bajaj Auto, Eicher Motors, Mahindra & Mahindra, and Maruti Suzuki India also lent support to the Nifty 50 index. Majority of the Nifty 50 constituents traded higher.
Eternal was the top gainer in the 50-stock index, up nearly 6%. The stock, which was up for the second session, hit an over two-month high of INR 308.55. It gained nearly 9% during this period. At 1417 IST, the Nifty 50 was at 25937.30, up 70 points or 0.3%. The BSE Sensex was at 84285.17, up 219.42 points or 0.3%.
Tata Steel followed Eternal among the 50-stock constituents, up nearly 3%. The stock was the top gainer in the Nifty Metal index. Steel Authority of India was up nearly 2% and was the second-top gainer in the sectoral index. The Nifty Metal was up 0.6%. The Ministry of Steel has signed memoranda of understanding for 85 projects involving 55 companies under the production-linked incentive scheme 1.2 for speciality steel, the ministry said in a release Monday. The companies participating in this round have committed an investment of INR 118.87 billion and a committed capacity of 8.7 million tonnes in downstream steel and alloy making.
Automobile companies such as Bajaj Auto and Mahindra & Mahindra extended their gains to support the Nifty 50. The stocks were up over 2% and over 1% respectively. Maruti Suzuki was also higher after closing lower for the previous three sessions. It was up over 1%.
Sectoral indices were mixed, with the Nifty Media gaining the most. The sectoral index was up over 2%. It was followed by the Nifty Auto, which was up over 1%. However, all broader market indices were in the green and were up for the second session. The Nifty smallcaps were 0.3–0.5% higher and the Nifty midcaps were 0.2-0.4% higher.
Shriram Finance was the worst hit in the 50-stock index, down nearly 2%. The stock was down after closing higher for the previous two sessions. It gained over 7% during this period. (Arundathi A R)
Equity Alert: Textile cos tumble as US trims reciprocal tariff on Bangladesh
MUMBAI--1330 IST--Shares of textile manufacturing companies fell Tuesday after the US Monday trimmed the reciprocal tariff on goods from Bangladesh to 19% from 20?rlier. This reduction in tariff may provide Bangladesh, which has lower input costs than India due to relatively cheaper labour, with an even greater advantage over its immediate neighbours.
"Prima facie, yes, there will be some impact (of the tariff reduction on Bangladesh)," an analyst at a domestic brokerage said. "However, it would be too early to flesh out the impact of this tariff cut considering that the India-US framework is still unclear on several things related to textiles," the analyst said. Some believe that certain textiles and apparel may be granted a blanket exemption from tariffs, while others have said that only textiles made from US-made cotton products will be eligible for zero duties, the analyst said.
India never had a competitive edge against Bangladesh in textile-making and this growing parity between tariff rates on India and Bangladesh will likely hurt domestic textile manufacturers. However, the impact of the cut on Bangladesh will probably be insignificant, the analyst said. Textile companies are likely facing selling pressure due to a sentiment-driven reaction rather than a material impact on earnings going forward, the analyst added.
Shares of Vardhman Textiles, Welspun Living, and K.P.R. Mill were down 2–5%. Analysts had said that Indian textiles are among the best placed goods that stand to gain from the US slashing import tariffs on India. Shares of these companies had risen on Monday after Commerce Minister Piyush Goyal announced signing of a framework deal for an interim agreement between the two countries over the weekend. (Eshitva Prakash)
Equity Alert: Titan, Eicher Motors, Grasim Ind rise ahead of Oct-Dec results
MUMBAI--1325 IST--Titan Co., Eicher Motors, and Grasim Industries rose ahead of their December quarter earnings, scheduled later in the day. Meanwhile, shares of Apollo Hospitals was choppy ahead of its Oct-Dec earnings.
Titan Co. rose nearly 2% to the day's high of INR 4,329.60. The company is expected to report a jump of nearly 40% on year in consolidated revenue for the December quarter to INR 225 billion and a rise of over 55% in net profit to INR 15.43 billion. At 1259 IST, shares of Titan rose 0.6% to INR 4,283.90 on NSE. All the 10 brokerage reports available with Informist on the company have a 'buy' recommendation with an average target price of INR 4,634.
Shares of Eicher Motors rose around 2% to intraday high of INR 7,325. The company's consolidated net profit for the December quarter is expected to grow 18% on year to INR 13.8 billion. Its consolidated revenue for the December quarter is expected to rise 21% on year to INR 60.34 billion. At 1259 IST, shares of Eicher Motors were nearly 2% higher at INR 7,311 on NSE. Of the 12 brokerage reports available with Informist on the company, six have a 'buy' recommendation with an average target price of INR 7,853. Of the remaining six, four have a 'hold' recommendation with an average target price of INR 7,008 and the remaining two recommend selling the stock.
Grasim Industries rose nearly 1% to a three-month high of INR 2,949.50 ahead of its December quarter earnings. The company is expected to report a net loss of INR 1.3 billion, compared with a net loss of INR 1.7 billion a year ago. Its revenue is expected to rise 22% on year to INR 98.8 billion. At 1259 IST, shares of Grasim Industries were 0.4% higher at INR 2,939 on NSE. Of the three brokerage reports available with Informist on the company, two have a 'buy' recommendation and one has a 'hold' recommendation on the stock.
Shares of Apollo Hospitals Enterprise were choppy ahead of its December quarter results. The company's consolidated net profit for the quarter is expected at INR 4.70 billion, an on-year rise of 26%. The company's revenue for the quarter is seen rising 14% on year to INR 63 billion. At 1259 IST, shares of the company were a tad lower at INR 7,206.50 on NSE. Of the eight brokerage reports available with Informist on the company, seven have a 'buy' recommendation with an average target price of INR 8,824, while the remaining one has a 'hold' recommendation. (Arundathi A R)
Equity Alert: Torrent Power rises 5.5% ahead of December quarter results
MUMBAI--1200 IST--Shares of Torrent Power rose 5.5% to INR 1,506 ahead of the company's earnings for the December quarter. Elara Securities expects the company's revenue to see a moderate rise, while JM Financial expects the metric to fall in mid single digit. At 1300 IST, shares of the company were at INR 1,484.10, up 4%.
Elara Securities' estimate for the company's revenue was INR 66.62 billion, implying growth of over 2% on year. The broking firm expects the net profit to rise 10% on year to INR 5.4 billion. The company's power generation fell 20% on year to 918 million units, the brokerage said in its report. JM Financial Institutional Securities Ltd. estimates the company's revenue at INR 62.02 billion, down nearly 5% on year.
Putput from the power generation sector was weak during Oct-Nov, both the brokerages said, with a sharp rebound in December due to higher industrial and residential consumption during winter. "Peak power demand strengthened in December, rising 7.6% YoY (on year)to 241.2GW, due to increased use of heating appliances," Elara Capital said.
Both brokerage reports available on the company with Informist have a 'sell' or equivalent rating, with target prices of INR 1,313 and INR 1,323. More than 933,235 shares of the power company were traded so far, higher than over 510,268 shares traded till same time Monday. (Prateem Rohanek)
Equity Alert: Karnataka Bank's shares choppy ahead of Oct-Dec earnings
MUMBAI--1130 IST--Shares of Karnataka Bank were choppy ahead of the company's December quarter earnings. The bank' net profit is expected to rise on year. Sequentially, however, it is expected to decline marginally due to slow growth in the bank's business, according to a report by Emkay Global Financial Services Ltd. At 1120 IST, shares of the bank were marginally down at INR 206.80 on the NSE.
The bank's net profit is expected to rise over 3% on year but fall more than 8% from the trailing quarter to INR 2.93 billion, according to Emkay. The lender's profit was INR 2.84 billion in the year-ago quarter and INR 3.19 billion in the trailing quarter.
The Mangalore-based bank's net interest income is expected at INR 7.43 billion, up over 2% on quarter but down more than 6% on year. Its net interest margin is likely to grow 5 basis points sequentially due to cash reserve ratio cuts and improvement in the current account savings account ratio. However, on an on-year basis, it is likely to fall 25 bps to almost 2.8% for the December quarter, the brokerage said in its pre-earnings note.
All four brokerage reports on the bank available with Informist have 'buy' recommendations on the stock with an average target price of INR 252, which is nearly 22% higher than the current market price. The share price rose 14.5% since the bank announced its September quarter earnings. (Durgesh Nandan)
Equity Alert: Indices open slightly higher; select fincl svcs cos limit gains
MUMBAI--0955 IST--Benchmark equity indices opened slightly higher Tuesday, extending gains from the previous session amid positive investor sentiment towards the India-US framework deal. Healthcare-related stocks and select private banks were among the biggest gainers. A fall in a some information technology majors and some financial services companies limited the gains.
At 0954 IST, the Nifty 50 was at 25939.15 points, up 71.85 points or 0.3%. The BSE Sensex was at 84308.04 points, up 242.29 points or 0.3%. Shares of Eternal rose the most among Nifty 50 constituents and were up over 2%. Shares of index heavyweights ICICI Bank and Reliance Industries were up 0.4?ch, lending support to the 50-stock index. Meanwhile, a near 1?ll in Bajaj Finance and Shriram Finance was the biggest drag, followed by a fall in shares of State Bank Of India, which had risen sharply in the previous session after the lender's strong December quarter figures.
Shares of pharmaceutical companies such as Cipla were up. Sun Pharmaceutical Industries and Dr Reddy's Laboratories were up around 1?ch. Major hospital operators Fortis Healthcare and Max Healthcare Institute also traded higher. Meanwhile, barring HCL Technologies and Wipro, which were down 0.4?ch, all othe constituents of the Nifty IT index traded higher.
Shares of BSE advanced nearly 6% and rose the most among Nifty 200 constituents. The company's revenue from operations rose over 16% on quarter to INR 12.44 billion, surpassing analysts' estimate of INR 12.22 billion. Shares of Zydus Lifesciences were down over 2% and were among the worst hit constituents of the 200-stock index. The medical company reported the slowest year-on-year growth in its net profit in the last three quarters. However, the company's top and bottom lines handily surpassed the Street view.
Among Nifty 500 companies, Pfizer's shares rose almost 9?ter the company's net profit for the December quarter rose over 11% on year to INR 1.42 billion. The company's revenue from operations for the quarter rose almost 20% to INR 6.45 billion. (Eshitva Prakash)
Equity Alert: Asian indices up; Japanese mkts lead gains post PM Takaichi win
MUMBAI--0857 IST--Most Asian indices opened higher with equity markets in Japan leading the gains after Prime Minister Sanae Takaichi's landslide victory in recent elections on Sunday lifted sentiment. The Nikkei 225 and Topix index breached their respective fresh record highs Tuesday, gaining 3% and 2%, respectively.
The Japanese yen neared 160 per dollar, equities hit peaks, and Japanese government bond yields soared following the victory of Prime Minister Takaichi. She led the ruling Liberal Democratic Party to a supermajority in the Lower House, securing 316 seats in the party's largest election victory since World War II.
Analysts said that her victory will lead to a revival of the so-called "Takaichi trade," which typically involves a weaker yen, rising equities, and higher long-dated Japanese government bond yields, CNBC reported. The trend reflects Takaichi's dovish stance on monetary policy and expectations of expanded fiscal stimulus, the report said.
The yield on Japan's 10-year bond was at 2.27% on Tuesday, reversing early weakness in a vote of confidence in Takaichi's "responsible, proactive" fiscal policy, Reuters reported. "The result reduces political uncertainty and strengthens the broader 'Japan is Back' narrative," Reuters cited Masahiko Loo, senior fixed-income strategist at State Street, as saying.
Shares of Softbank Group Corp. surged as much as 12% Tuesday after its subsidiary company upgraded its full-year forecast for its financial year ending Mar. 31. The stock had risen 6.3% on Monday.
Among other indices in the region, Australia's S&P/ASX, Hong Kong's Hang Seng, and South Korea's Kospi were up 0.2-0.5%. China's CSI 300 was down 0.1% and the FTSE Singapore Straits Times was down 0.2%.
Following are the levels of key Asian indices at 0810 IST:
|
INDEX |
LEVEL |
CHANGE IN % |
|
CSI 300 Index |
4715.2395 |
(-)0.08 |
|
Hang Seng Index |
27175.65 |
0.55 |
|
KOSPI |
5312.48 |
0.27 |
|
Nikkei 225 Day |
57926.07 |
2.77 |
|
TOPIX FIRST SECTION |
3861.86 |
2.07 |
|
FTSE Singapore Straits Times |
4949.68 |
(-)0.22 |
|
S&P/ASX 200 Index |
8884.40 |
0.16 |
(Simran Rede)
Equity Alert: Mkt likely to extend gains; analysts positive on US-India deal
MUMBAI--0842 IST--Benchmark equity indices are likely to rise further Tuesday as investor sentiment turned positive after the recent announcement of an interim framework for the India-US trade deal, which is seen favourable for India. A strong return in the market by foreign portfolio investors in February has fuelled a risk-on sentiment, analysts said. Investors are also likely to rise tracking positive cues from strong gains in equity markets globally.
Shares of information technology companies will also be in focus amid global concerns around artificial intelligence tools hurting sales of software companies. Overnight, the American Depository Receipts of IT majors, Infosys and Wipro, ended around 3% lower each. Some analysts have flagged medium-term revenue concerns for IT companies.
Refining and crude oil producing companies will be in focus amid uncertainty regarding India's policy of crude oil purchase from Russia going forward. Under the interim framework, the US has the right to ensure compliance and can re-impose the 25% tariffs if India continues to purchase Russian crude oil.
The GIFT Nifty 50 futures indicate a slightly higher start for the Nifty 50. At 0836 IST, the February contract of the GIFT Nifty was at 25980 points, up over 110 points from the Nifty 50's previous close. On Monday, the 50-stock index closed at 25867.30 points, up 173.60 points, or 0.7%, and the BSE Sensex closed at 84065.75, up 485.35 points, or 0.6%. The Nifty 50 may test 26150–26200 points in the next couple of trading sessions, Vipin Kumaar, assistant vice president – technical and derivatives at Globe Capital Market, said. On the other hand, 25500–25700 points will act as a support level for the index.
Overnight, equity indices in the US closed higher amid a rebound in technology stocks after last week's AI-sparked selloff, Reuters reported. The Dow Jones Industrial Average reached yet another record closing high after eking out minor gains. On Tuesday, benchmark indices in Asia were higher in early trade Tuesday, with Japan's Nikkei 225 leading the gains. Equity markets in Japan have extended their gains from a post-election rally as investors continue to engage in "Takaichi trade" in the wake of Prime Minister Sanae Takaichi's landslide victory, CNBC reported.
Shares of Titan Co., Eicher Motors, Grasim Industries, and Apollo Hospitals will be in focus as these Nifty 50 companies release their earnings later in the day. (Eshitva Prakash)
Equity Alert: US indices end up Mon as tech stocks rise post major selloff
MUMBAI--0808 IST--Equity indices in the US closed higher Monday, bouyed by gains in technology stocks after the recent selloff due to fears of competition from artificial intelligence. Investors await economic data this week that could shed light on the US Federal Reserve's interest-rate trajectory.
The US non-farm payrolls report for January is due on Wednesday, delayed due to the government shutdown in the US. Investors will also assess the consumer price index for January, scheduled for Friday. Traders are now pricing in the year's first rate cut by the Fed in June, according to CME FedWatch tool. Around 51% of market participants expect the apex bank to lower the interest rate by 25 basis points in June.
On Monday, the Dow Jones Industrial Average rose to a new record high of 50219.40 points, though it closed off highs at 50135.87 points. While the Dow index is hitting fresh all-time highs, the NASDAQ Composite and S&P 500 are struggling to break their individual peaks hit in October and January, respectively.
The rise in the US markets on Monday was seen as "a kind of buy-the-dip mentality," Reuters reported citing Oliver Pursche, senior vice president and advisor for Wealthspire Advisors in Westport, Connecticut. Among the top gainers, Nvidia and Broadcom extended their gains from the previous session, gaining 2.5% and 3.3%, respectively. Shares of artificial intelligence giant Oracle were up 9.6?ter investment banking company D.A. Davidson upgraded the stock to 'buy' from 'neutral' due to optimism around OpenAI and its beneficiaries.
Following are the closing levels of US indices Monday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6964.82 |
0.47 |
|
NASDAQ Composite |
23238.67 |
0.90 |
|
Dow Jones Industrial Average |
50135.87 |
0.04 |
(Simran Rede)
US$1 = INR 90.56
Edited by Ashish Shirke
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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