Equity Alert
Fractal Analytics lists at INR 876, 3% discount to issue price
This story was originally published at 12:22 IST on 16 February 2026
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Equity Alert: Fractal Analytics lists at INR 876, 3% discount to issue price
MUMBAI--1200 IST--Shares of Fractal Analytics listed at INR 876 on the National Stock Exchange, at a discount of around 3% compared to the issue price of INR 900. At 1152 IST, shares of the company traded at INR 857 on the National Stock Exchange, nearly 5% lower than the issue price. Over 5 million shares of the company have changed hands on the NSE so far in the session.
The company's initial public offering, which closed Wednesday, was subscribed 2.7 times, with the company receiving bids for 49.48 million shares, against 18.58 million shares available on the offer. Ahead of the offer, the company raised over INR 12 billion from anchor investors by allotting 13.87 million shares.
Fractal Analytics is an enterprise artificial intelligence company that provides large global enterprises with data-driven insights and assists them in their decision-making through its end-to-end AI solutions. For the six months ended Sept. 30, it had reported a consolidated net profit of INR 718 million on a revenue of INR 15.59 billion. (Arya S. Biju)
Equity Alert: Natco Pharma up 13% as co gets OK for India semaglutide launch
MUMBAI--1150 IST--Shares of Natco Pharma rose 13% to an over one-month high of INR 932 on the NSE after the company Saturday said it had received approval from the Central Drugs Standard Control Organisation to manufacture and market generic semaglutide injection in India.
Semaglutide is a glucagon-like peptide-1 receptor agonist indicated for use against type-II diabetes. Several pharmaceutical majors have already thrown their hats into the GLP-1 race and analysts believe this class of drugs can have a large growth opportunity for Indian pharmaceutical players. Semaglutide's patent in India will expire in March, allowing the entry of multiple generic manufacturers to launch their versions of the drug. Novo Nordisk, which has brought the drug to Indian markets, already markets it under brands such as Wegovy and Ozempic. Natco Pharma has said that it will launch Semaglutide in March.
The launch will leverage existing metabolic insulin teams and will limit incremental hiring, Prabhudas Lilladher said after the approval. Initial margins from the drugs are expected to be lower and the brokerage sees minimal impact to overall earnings before interest, tax, depreciation, and amortisation.
Three brokerages have a 'hold' rating on Natco Pharma with a target price ranging from INR 838 to INR 925. Dolat Capital Market has an 'accumulate' call on the stock with a target price of INR 974. (Eshitva Prakash)
Equity Alert: Aye Finance lists at issue price of INR 129/share
MUMBAI--1114 IST--Shares of Aye Finance listed at the issue price of INR 129 a share on the National Stock Exchange. At 1112 IST, shares of the company were down over 3% at INR 124.80 on the National Stock Exchange, with 5.67 million shares of the company having exchanged hands on the bourse so far during the session. Shares of the non-banking finance company fell nearly 7% to the day's low of INR 120.55.
The company's initial public offering, which closed Wednesday, failed to get full subscription, with bids submitted for over 44 million shares, against more than 45 million shares on offer. The company's initial public offering comprised a fresh issue of shares worth INR 7.10 billion and an offer for sale of shares worth up to INR 3 billion. The company intends to use the net proceeds from the fresh issue to augment its capital base to meet future capital requirements, which are expected to arise out of growth in business and assets.
The non-banking finance company provides loans to micro, small, and medium enterprises across India. For the six months ended September, it had reported net profit of INR 645.97 million and revenue of INR 8.44 billion. (Akshat Saksena)
Equity Alert: Shares of Kwality Wall's list at INR 29.80 on NSE
MUMBAI--1104 IST--Shares of Kwality Wall's (India) listed at INR 29.80 on the NSE and were trading at INR 31.25, as of 1104 IST. Around 35 million shares of the company have been traded on the exchange so far in the day. The ice-cream manufacturing company's stock was part of the special pre-open session as part of the initial public offering. Hindustan Unilever demerged its ice cream business into a new standalone company, effective from Dec. 1. The company's indicative listing price was INR 40.20 per share.
Under the demerger plan, HUL shareholders will receive one share of Kwality Wall's for every HUL share owned. As part of the plan, Unilever group arm Magnum HoldCo. will also acquire a majority stake in Kwality Wall's. At 1104 IST, shares of Hindustan Unilever traded slightly higher at INR 2,310.80 on the NSE.
Of the 15 brokerage reports available with Informist on the company, 12 have a 'buy' recommendation with a target price of INR 2,803 on the NSE, while three have a 'hold' call on the stock. (Eshitva Prakash)
Equity Alert: Indices remain up; gains in shares of PSU cos support market
MUMBAI--1045 IST--Benchmark equity indices remained up, supported by gains in public sector enterprises. The heavyweight banking stock, HDFC Bank, rose over 2% and contributed to the gains in the Nifty 50 index. At 1032 IST, the Nifty 50 was at 25527.65 points, up 56.55 points or 0.2%, and the BSE Sensex was at 82795.24 points, up 168.48 points or 0.2%.
State-owned companies Coal India and Power Grid Corp. of India rose around 3% to be the top gainers in the 50-stock index. Other public sector enterprises such as NTPC and ONGC were up over 1%. Among individual stocks, Axis Bank, Eternal, Bajaj Finserv, and HDFC Life Insurance Co. were up nearly 1?ch.
Infosys and Tech Mahindra were the worst hit in the index, down nearly 2% and over 1?ch. Jio Financial Services, Tata Motors Passenger Vehicles, Maruti Suzuki India, and Wipro were the other worst performers, down nearly 1?ch.
Among the sectoral indices, Nifty Pharma rose nearly 1%. A nearly 6% rise in shares of JB Chemicals & Pharmaceuticals supported Nifty Pharma. In contrast, Nifty Media was the worst hit, down nearly 1%. PVR INOX, which fell over 1%, was among constituents of the Nifty Media that weighed on the sectoral index.
Torrent Pharmaceuticals and GMR Airports were the top gainers among the Nifty 200 constituents, up nearly 6?ch. Shares of Siemens Energy India rose nearly 3?ter the company reported a net profit of INR 3.13 billion, up 35% on year, for the December quarter. The revenue of the company rose nearly 26% on year to INR 19.11 billion.
In contrast, BSE was the worst hit in the Nifty 200 index, down nearly 7%, followed by shares of IRB Infrastructure Developers, which fell over 4%. The shares fell after the company's consolidated net profit for the December quarter fell 97% on year to INR 2.11 billion. The top line of the company fell 8% to INR 18.71 billion for the reporting quarter.
Pharmaceutical companies of Natco Pharma, Akums Drugs and Pharmaceuticals, and JB Chemicals & Pharmaceuticals were among the top gainers in the Nifty 500 index, up 6-11%. (Adhithya Aji)
Equity Alert: Ola Electric dn 7%; Emkay cuts price aim 60%, recommends 'sell'
MUMBAI--1025 IST--Shares of Ola Electric Mobility fell 7% to INR 28.81 on the NSE Monday after the company reported its earnings for the December quarter Friday. Emkay Global Financial Services downgraded the stock to 'sell' from 'buy' earlier and cut its target price 60%. Ola Electric has seen a consistent market share loss and attempts at revitalising its presence in the electric two-wheeler segment will be a long process, the brokerage said.
For the quarter ended December, Ola Electric Mobility reported a consolidated net loss of INR 4.87 billion from INR 5.64 billion loss a year ago. Revenue during the quarter slumped 55% to INR 4.7 billion. The company's gross margin rose by 340 basis points sequentially to 34.3%, aided by a production-linked incentive for its Gen3 vehicle, Emkay Global said in a research report. The electric two-wheeler industry is seeing healthy growth, with a revival in penetration following a dip due to the recent goods and services tax rate cut, the brokerage said. However, Ola has seen a consistent volume decline and market-share loss, it said.
The company is undertaking several measures to improve execution, cut costs, conserve cash and improve brand perception amid severe product and service issues, according to the report. The company on Friday reiterated its gross margin target of 35–40% for 2026–27 (Apr–Mar) in a post-earnings letter to shareholders.
"However, we believe that this (improvement) could be a difficult, long-drawn process, especially amid greater focus from incumbents and scale-up at Ather," Emkay Global said. A turnaround would require the company to have a strong cash balance to survive this phase. Ola had a net debt of INR 6.7 billion as on Dec. 31, as per Emkay Global's calculation. (Eshitva Prakash)
Equity Alert: Indices open a tad lower, rises later; pharma stocks up
MUMBAI--1020 IST--Benchmark indices opened a tad lower and were volatile during the session so far. After swinging between gains and losses, indices were up, with pharmaceutical companies contributing to the gains. The Nifty 50 index was supported by the index heavyweight HDFC Bank, which rose over 1%. At 1020 IST, the Nifty 50 was at 25545.65 points, up 74.55 points or 0.3% and the BSE Sensex was at 82843.37 points, up 216.61 points or 0.3%.
Power Grid Corp. of India and Coal India were the top gainers among Nifty 50 constituents, up around 2?ch. State-owned companies such as NTPC and ONGC were up around 1?ch. Pharma majors Sun Pharmaceutical Industries and Cipla rose 0.4% and 0.5%, respectively. Financial services companies such as Shriram Finance and Bajaj Finserv rose around 1?ch.
Adani Ports and Special Economic Zone, Hindalco Industries, Jio Financial Services, and Infosys were the worst-hit stocks in the index, down around 1-2%. Share of State Bank of India, Hindustan Unilever, and Tata Motors Passenger Vehicles were down nearly 1% as well.
Torrent Pharmaceuticals was the top gainer in the Nifty 200 index, up over 5%. The stock rose after the pharmaceutical major's consolidated net profit rose over 26% on year to INR 6.35 billion for the December quarter. The top line of the company rose nearly 18% to INR 33.03 billion for the reporting quarter.
Shares of GMR Airports rose over 5?ter the company reported a net profit of INR 1.22 billion for the December quarter, down 54% on year. The company reported a net profit after posting losses for the past consecutive three quarters.
Pharma stocks of Natco Pharma and Akums Drugs were the top gainers among Nifty 500 constituents, up 9% and 7% respectively.
Natco Pharma rose after the company received approval from the Central Drugs Standard Control Organisation to manufacture and market generic semaglutide injection in India.
In contrast, BSE was the worst hit in the Nifty 200, down over 7%, and Blue Jet Healthcare was the worst hit in the Nifty 500, down nearly 9%. (Adhithya Aji)
Equity Alert: GMR Airports up 5%, co posts profit in Q3 after 3 qtrs of loss
MUMBAI--0945 IST--Shares of GMR Airports rose over 5% to an intraday high of INR 99.05 on the NSE Monday. The company, after market hours Friday, reported a consolidated net profit for the December quarter, after three straight quarters of losses. The airport operator's revenue rose sharply for the quarter, supported by higher passenger traffic. A tariff revision at the Delhi airport, strong growth in the non-aero segments, and profitability turnaround at the Goa airport drove earnings before interest, tax, depreciation, and amortisation growth, according to JM Financial Institutional Securities.
The company reported a consolidated net profit of INR 1.22 billion for the December quarter, down over 54% on year, but in line with analysts' projection. The company's revenue from operations rose around 51% on year to INR 39.94 billion and was also in line with expectations. The airport operator reported an EBITDA of INR 17.89 billion for the reporting quarter, up 65% on year.
The company's Delhi airport reported its highest-ever EBITDA for a quarter. The company's airports handled a record 31.9 million passengers in the December quarter, led by Delhi airport at a record 20.8 million passengers, Hyderabad airport at 7.8 million passengers, and Mopa (Goa) airport at a record 1.46 million passengers, the company said in a release. It handled the highest-ever monthly passenger traffic of 11.13 million in January, up 3.9% on year.
The interest costs fell on quarter owing to lower interest rates led by refinancing measures undertaken by the company, JM Financial Securities said. The brokerage sees the company entering a low capital expenditure phase in 2026-27 (Apr-Mar) as the capital expenditure for Bhogapuram is largely complete and that for Hyderabad expansion is not due until FY28. Cash flows for the could significantly improve in FY27, JM Financial said. The brokerage has a 'buy' recommendation on the stock at an unchanged target price of INR 120. (Eshitva Prakash)
Equity Alert: Asian markets lower, investors book profit in Hong Kong
MUMBAI--0835 IST--Equity indices in Asia were trading mostly lower Monday. Economic data out of Japan did little to lift investor sentiment during the session. Hang Seng was flat for the session as investors look to book profits ahead of the Lunar New Year.
Japan's economy grew by 0.2% on year for the December quarter, way below expectations of a rise of 1.6% as government spending weighed on economic activity, Reuters reported. The figures have set a tough road ahead for Japanese Prime Minister Sanae Takaichi but should support her advocacy for a more aggressive fiscal stimulus. "Our fear in Asia is that if the mega-cap technology companies announce a pause in capital expenditure, that might lead to a sharp correction in memory stocks that have rallied sharply in markets like Korea this year," Nick Ferres, chief investment officer at Vantage Point was reported as saying. "While rotation is likely to favour emerging markets, we are becoming increasingly cautious on memory stocks in Korea and Taiwan following their exceptional performance and re-rating," he added.
Shares in Hong Kong were flat as investors lock in profits ahead of the Lunar New Year break, a report from South China Morning Post said. Shares of e-commerce giant Alibaba Group were down nearly 3% and those of JD.com were down nearly 2%. Shares of search engine operator Baidu fell nearly 1% and those of food delivery platform Meituan fell over 2%. The Hang Seng will be closed after the morning session Monday and reopen Friday, while indices in mainland China will be closed for the entire week.
Following are the levels of key Asian indices at 0819 IST:
|
INDEX |
LEVEL |
CHANGE IN % |
|
Hang Seng Index |
26573.98 |
0.03 |
|
KOSPI |
5507.01 |
(-)0.28 |
|
Nikkei 225 Day |
56797.91 |
(-)0.25 |
|
TOPIX FIRST SECTION |
3788.58 |
(-)0.79 |
|
FTSE Singapore Straits Times |
4932.44 |
(-)0.11 |
|
S&P/ASX 200 Index |
8934.20 |
0.19 |
(Akshat Saksena)
Equity Alert: Indices seen in range; volatility in IT stocks seen continuing
MUMBAI--0830 IST--Benchmark indices are expected to be in range with a negative bias, following a sharp fall in the last two sessions. Investor sentiment remains weak and traders are likely to sell on a rise, technical analysts said. Information technology stocks are likely to be volatile this week, with some analysts expecting a rebound, while others seeing more pain for companies exposed to competition from artifical intelligence tools.
On Friday, the American depository receipts of technology majors Infosys and Wipro recovered some losses after falling for two straight sessions. Infosys' ADRs ended 3.6% higher and those of Wipro closed 2.6% higher. There are concerns that a rise in artificial intelligence tools will affect the earnings of traditional software makers, especially those that depend on outsourcing from the US. Analysts are waiting for announcements from the India AI Impact Summit, which starts on Monday in New Delhi. Top executives from leading technology companies such as Google, OpenAI, and Anthropic are expected to attend the summit and provide cues on demand for AI tools.
At 0821 IST, the GIFT Nifty 50 indicated a muted start for the Nifty 50, with the February contract of the GIFT Nifty being 39 points lower than the Nifty 50's previous close. On Friday, the Nifty 50 index closed 1.3% lower at 25471.10 points. The BSE Sensex closed at 82626.76 points, down 1.3%. "Broader setup continues to favour a sell on rise approach unless the index decisively reclaims the 25,800 mark,. Such a move would be essential to negate the current bearish structure and trigger renewed bullish momentum. 25450–25400 zone has now evolved into a crucial make-or-break region," Dhupesh Dhameja, derivatives research analyst at SAMCO Securities, said.
Equity indices in the US ended mixed on Friday, with the S&P 500 snapping a three-session losing streak, but the tech-laden Nasdaq Composite closed lower after yet another decline in technology and communication services. Consumer inflation for January rose 2.4% on year basis, softer than expectations and lower than the 2.7% rise in December. Most indices in Asia were down in early trade Monday, weighed down by poor economic data from Japan, according to media reports. The country reported its economy growing 0.1% on an annualised basis in the December quarter, far below the 1.6% gain forecast as government spending dragged on activity, CNBC TV-18 said.
Among specific stocks, Ola Electric Mobility will be in focus after Emkay Global Financial Services downgraded the stock to 'sell' from 'buy' and cut its target price on the stock by 60% to INR 20 from INR 50. "Ola has seen a consistent volume decline and market-share loss," Emkay Global said. While the company is undertaking several measures to improve execution, cut costs, and improve brand perception amid product, these changes could be a difficult process, especially amid greater focus from incumbents and scale-up at Ather, the brokerage added. (Eshitva Prakash)
Equity Alert: Barring Nasdaq, US equity indices end slightly higher Fri
MUMBAI--0742 IST--Equity indices in the US ended slightly higher Friday barring the Nasdaq Composite index that fell slightly due to losses in technology stocks. The impact of the weakness in technology stocks was somewhat offset by the weaker-than-expected inflation data, which increased the chances of a rate cut in June.
The data from the US Bureau of Labor Statistics showed CPI for January 2.4% on year, down 0.3 percentage point from the preiovus month, CNBC reported. "This should be welcome news for markets, and the presumptive incoming Fed Chair Kevin Warsh," Phil Blancato, Osaic chief market strategist was reported as saying. "This is only one month's worth of data, but if the trend continues it should pave a path for lower interest rates and reined in inflation," Blancato added. The possibility of a 25 basis point rate cut by the US Federal Reserve in June rose to 9.8% from 9.2% on Feb. 13, according to the CMEFedWatch tool.
Disruption from artificial intelligence-affected tech stocks during the course of the week, spread to software, real estate, and financial services stocks. Shares of Morgan Stanley and Charles Schwab have fallen nearly 5% and 11%, respectively. Shares of software company Workday fell 11% and those of real estate firm CBRE fell 16% for the period. Shares of media companies too fell, with Netflix falling 6% for the week. "Investors show no mercy for anything seen as an AI loser. The list is growing by the day, driving divergence between new/old economy sectors and U.S./[Rest Of World] equities," Barclays analyst Emmanuel Cau was reported by CNBC as saying. "Amid erratic price action and fears of AI disruption turning into a broader macro/credit issue, growth, rates & earnings backdrop is okay," he added.
Mega tech stocks such as NVIDIA Corp. and Apple, down over 2?ch, were the biggest drag on the S&P 500, while shares of Applied Materials provided the biggest boost to the index, Reuters reported. Shares of Arista Networks rose nearly 5?ter their forecasts for annual revenue beat expectations. Shares of Applied Materials rose over 8?ter the company forecast better-than-expected numbers for their annual revenue as well.
The US markets will be closed on Monday on account of President's Day.
Following are the closing levels of US indices Friday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6836.17 |
0.05 |
|
NASDAQ Composite |
22546.67 |
(-)0.22 |
|
Dow Jones Industrial Average |
49500.93 |
0.1 |
(Akshat Saksena)
US$1 = INR 90.70
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.
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