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Informist, Tuesday, Feb. 17, 2026                                      Tel +91 (22) 6985-4000

Equity Alert: Nifty 50 seen in range near term as sentiment remains positive

MUMBAI--1648 IST--The Nifty 50 is expected to remain range-bound in the coming days with the market trend remaining broadly positive. Analysts do not see any major triggers for the equity markets until the next expiry of the weekly derivatives contract. On Tuesday, the Nifty ended at 25725.40 points, up 42.65 points or 0.2%. 

Support for the 50-stock index is seen at 25500 points and the resistance is pegged at 26000 points, according to Jetin Gedia, vice president of technical research at Teji Mandi Investment Technologies. Gedia expect the Nifty 50 to be in this range till Feb. 24, which is the next expiry of Nifty 50's weekly derivatives contract. "Today (Tuesday), the market rose due to short covering in IT (information technology) stocks. The Infosys deal with Anthropic has created optimism in all IT companies," Gedia said. Infosys on Tuesday entered into a strategic partnership with American technology company Anthropic to develop artificial intelligence solutions. 

On Tuesday, the Nifty 50 continued its recovery but faced resistance near the 50-day moving average on the higher side, according to Rupak De, senior technical analyst at LKP Securities. "As a result, it may remain range-bound or witness a minor pullback, given the rejection at this critical moving average," he said. He also said that the index could strengthen further if it breaches above 25800 points. "However, failure to move past 25800 (points) may trigger long unwinding, potentially dragging the index back toward the 25500 level," Rupak De said in a note. 

In the near term, the market sentiment is likely to remain cautious as investors monitor global development around AI-driven shifts, according to Vinod Nair, head of research at Geojit Investments. "However, a resilient GDP outlook, and a stabilising rupee may provide support to renewed FII (foreign institutional investors) inflows," he added.  (Adhithya Aji)

Equity Alert: SRF ends down 4%; promoter to sell up to 3% share capital in co

MUMBAI--1559 IST--Shares of SRF ended nearly 4% lower at INR 2,742.90 on the National Stock Exhange Tuesday. This comes after the board of Kama Holdings, a promoter in SRF, approved to sell up to 3% of its share capital in the latter. Shares of Kama Holdings ended over 4% higher at INR 2,651.30 on the Bombay Stock Exchange. Earlier, SRF fell over 4% to an intraday low of INR 2,731.10 on the NSE. Kama Holdings' shares rose nearly 10% to an intraday high of INR 2,785 on the BSE.

After the transaction, Kama Holdings' shareholding in SRF will fall below 50%. The transaction will be carried out in the open market and no promoter or member of the promoter group or promoter company will take part in the transactions. Kama Holdings held a 50.21% stake in SRF as of Dec. 31. 

Over 595,000 shares of SRF were traded on NSE Tuesday, sharply higher than over 110,000 traded Monday. Out of 12 brokerage reports on the company with Informist, 10 have a 'buy' recommendation with an average target price of INR 3,409 and the remaining two have a 'hold' recommendation on the stock. Nearly 30,000 shares of Kama Holdings changed hands on BSE Tuesday, sharply higher than the over 8,000 shares traded Monday. (Akshat Saksena)

Equity Alert: Indices end higher on gains in IT cos, PSU banks

MUMBAI--1554 IST--Benchmark indices ended higher Tuesday with shares of information technology and public sector banks leading the gains. The Nifty 50, which ended above 27000 points, got support from the gains in the stock of Infosys. The Nifty 50 ended at 25725.40 points, up 42.65 points or 0.2%, and the BSE Sensex ended at 83450.96 points, up 173.81 points or 0.2%.

Adani Enterprises ended the session as the top gainer, up nearly 3%, followed by shares of Bharat Electronics and ITC, which ended 2% higher each. Information technology companies Infosys, HCL Technologies, Tech Mahindra, Wipro, and Tata Consultancy Services ended 0.4-2.0% higher. Shares of Adani Ports and Special Economic Zone and Asian Paints closed nearly 2% higher each. Tata Motors Passenger Vehicles, Bajaj Auto, Titan Co., and Dr. Reddy's Laboratories ended around 1% higher each.

In contrast, Hindalco Industries and Eternal ended as the underperformers. These stocks were down nearly 2% each. Shares of Trent, Tata Steel, Cipla, Shriram Finance, and Mahindra & Mahindra ended nearly 1% lower each. Heavyweight Reliance Industries ended nearly 1% lower. 

All the broader market indices ended higher with the Nifty smallcap indices ending 0.5-0.7% higher. The Nifty Smallcap 100 closed 0.6% higher and the Nifty Smallcap 250 closed 0.7%, and were supported by gains in the stock of Aegis Vopak Terminals. The stock ended over 6% higher. The Nifty midcap indices ended 0.1-0.3% higher.  

Among the sectoral indices, Nifty PSU Bank was the top gainer, up over 2%. Shares of Indian Bank, Bank of Baroda, Punjab National Bank, and Union Bank of India rose 3-4%. These stocks aided the Nifty PSU Bank which hit an all-time high of 9547.75 points during session. Nifty Metal was the underperformer, down 1%. Losses in the shares of Hindustan Copper weighed down on Nifty Metal. Hindustan Copper ended over 4% lower and was also among the worst-hit stocks in Nifty 500. 

SRF closed nearly 4% lower and was the worst-hit stock among the Nifty 200 constituents. The stock fell during intraday after the company's board approved selling up to 3% share capital in SRF. After the sale, the share holding of its promoter, Kama Holdings, in SRF will fall below 50%. In contrast, One 97 Communications was the outperformer in the index, up over 4%. 

In the Nifty 500 index, Newgen Software Technologies ended as the top gainer, up nearly 14%. On other hand, Engineers India ended as the worst hit stock, down 5%.  (Adhithya Aji)

Equity Alert: Praj Industries ends 10% higher after falling for two sessions

MUMBAI--1550 IST--Shares of Praj Industries closed 10.1% higher at INR 333.10 Tuesday after declining in the previous two sessions. The stock had shed over 8% over those two sessions. 

Shares of the company fell on Friday and Monday after it reported a net loss of INR 123.86 million for the December quarter, compared with a profit of INR 410.97 million a year ago. Its revenue for the period declined 1.4% on year to INR 8.41 billion.

Broking firm Elara Securities retained its 'sell' recommendation on the stock and reduced the target price by 11% to INR 285 from INR 320. The brokerage cut the company's earnings estimates by 25% for 2025–26 (Apr-Mar), 20% for FY27, and 15% for FY28. "Sustained earnings rebound will depend on policy clarity and pick-up in inflows," the brokerage said in a report. 

Over 30 million shares of Praj Industries changed hands on NSE during the day, sharply higher than over 1 million on Monday. 

Of the three brokerage reports available with Informist, one recommends a 'buy', one a 'sell' and the third a 'hold' recommendation on the stock.  (Arundathi A R)

Equity Alert: Nifty 50 Feb ends at premium of 10.6 points to spot index

MUMBAI--1540 IST--The February futures contract of the Nifty 50 closed at a premium of 10.60 points to the spot index Tuesday. Open interest in the contract rose 0.7% to 15.70 million, according to provisional data.

--Nifty 50 closed at 25725.40 points, up 42.65 points or 0.2% vs Mon

--Nifty 50 February closed at 25736.00 points, up 18.80 points or 0.1% vs Mon

Nifty 50 options, expiring Feb. 24, with maximum change in open interest:

Call: 27000, Put: 24000

Nifty 50 options, expiring Feb. 24, with maximum open interest:

Call: 27000, Put: 25000 

(Gopika Balasubramanium)

Equity Alert: Europe mkts up, investors study data, geopolitical development

MUMBAI--1519 IST--Equity markets in Europe were higher as investors assessed geopolitical developments. Investors will focus on talks between the US and Iran over their nuclear dispute later in the day. Separate talks between Russia and Ukraine, mediated by the US scheduled during the week, will also be monitored. Markets will also assess data from Germany and the UK.  

The UK's earnings and employment report showed a fall of 0.4% on year in the number of payroll workers to 30.30 million in January. This signifies a drop of 11,000 from December, CNBC reported. The unemployment rate in December rose to 5.2% from 5.1% in November. Unemployment in the UK is at its highest level since January 2021, Samuel Fuller, director of Financial Markets Online, was reported as saying. "With Britain's economy almost flatlining and the labour market weakening, falling inflation will be the final piece of the puzzle needed for the Bank's ratesetting committee to pull the monetary stimulus lever," he added.

Inflation in Germany rose to 2.1% in January from 1.8% in December, according to data from the German Federal Statistical Office. "The rise in overall consumer prices intensified at the start of the year," Ruth Brand, president of the Federal Statistical Office, was quoted as saying.  

With global leaders holding discussions over geopolitical issues, STOXX Europe Total Market Aerospace & Defense index fell over 1% as easing geopolitical tensions often lead to a fall in defence stocks because investors expect lower near-term demand for their military and equipment services, Reuters reported.

Investor sentiment was settling after weeks of volatility in global markets, as concerns over the potential of artificial intelligence applications pressurising margins of traditional businesses start to ease. UK-based company InterContinental Hotels Group was up 0.5% for the session after it beat expectations for its global revenue per available room in the December quarter. Shares of mining company Antofagasta were down over 3% due to softer copper prices. This comes even after the company reported a rise of 52% on year in its net profit.

Following were the levels of major European indices at 1517 IST:

(Akshat Saksena)

Equity Alert: Asian mkts end mixed; Japanese indices down, Australian up

MUMBAI--1420 IST--Asian markets ended on a mixed note Tuesday. Indices in Japan ended lower while the Australian benchmark index ended higher. Several markets across the region are closed on account of Lunar New Year. These include markets in Mainland China, Hong Kong, and South Korea. Investors are taking a cautious approach as the US and Iran engage in talks in Geneva over the latter's nuclear programme. 

The Australian benchmark index ended higher on gains in shares of mining company BHP Group. A host of announcements in the company's half-yearly results saw its stock rise to a 52-week high, News.com.au reported. The company beat expectations and reported a net profit of $5.64 billion for the first half of its year, according to a report from Share Cafe. The stock ended nearly 5% higher. Shares of JB Hi-Fi rose over 8% after the consumer electronics company reported its earnings a day before. Brokerages UBS and financial advisor Morgans upgraded their rating on the company, with the former upgrading it to a 'buy' and the latter upgrading it to a 'hold'. The country's central bank said inflation would stay persistently high had it not hiked interest rates this month, Reuters reported. The bank also said it was not sure if further tightening would be required.

Japanese indices ended lower. The Nikkei 225 is down for four consecutive sessions and the TOPIX First Section index down for three continuous sessions, during which they have lost nearly 2% and over 3%, respectively. Indices in Japan were under pressure coming off a session marred by unsatisfactory GDP numbers. The country's economy grew 0.2% on year in the December quarter and was far below the 1.6% growth forecast. Bank of Japan is scheduled to next meet in March, with traders forecasting only a slim possibility of a rate hike. The central bank is expected to wait until July before it tightens its policy again, according to economists polled by Reuters.

Following are the levels of key Asian indices at 1416 IST:

(Akshat Saksena)

Equity Alert: Metal companies fall; Hindalco, NALCO, SAIL down around 2%

MUMBAI--1400 IST--Shares of most metal companies fell Tuesday, with Hindalco Industries, National Aluminium Co., and Steel Authority of India declining around 2%. A week-long holiday on the Shangai Futures Exchange led to thin trading volumes, analysts said. Investors participating in this exchange had been pushing commodity prices higher recently and their absence was an important reason for a fall in industrial and precious metal prices, which also had a cascading impact on metal stocks.

"Short-term profit booking is another reason for the fall in metal prices as most Asian markets were closed on account of Lunar New Year," said Ajay Suresh Kedia, founder and director at Kedia Advisory. Analysts also attribute the rise in coking coal prices as the reason for the fall in shares of major domestic steel players.

NALCO fell nearly 4% to the day's low of INR 335.20. The stock was down for the third straight session. It has lost over 9% in this period. At 1337 IST, shares of NALCO were down over 2% at INR 340.55. So far, over 5 million shares of the company have changed hands on NSE, lower than around 8 million shares traded till the same time Monday.

SAIL fell nearly 4% to an intraday low of INR 153.84. At 1337 IST, the stock was down nearly 2% at INR 156.81. So far Tuesday, over 10 million shares of the company have changed hands on NSE, higher than over 5 million shares traded till the same time Monday.

Hindalco fell 3% to the day's low of INR 881. The stock was down for the fifth straight session, shedding 9% during this period. Broking firm Incred has downgraded the stock to 'reduce' from 'add' with a revised target price of INR 631, down nearly 20% from the previous target price. "Macro-driven rally and rising scrap may drive a 20% price dip, hurting Hindalco Industries' India business margins," according to an NDTV Profit report, quoting Incred.

At 1337 IST, shares of Hindalco were lower by nearly 2% at INR 892.20. So far, nearly 5 million shares of the company have changed hands on NSE, similar to the shares traded till the same time Monday.  (Arundathi A R)

Equity Alert: Indices remain higher as IT stocks continue to lend support

MUMBAI--1358 IST--Benchmark indices remained higher, supported by gains in information technology stocks. A rise in shares of public sector banks also aided equity markets. The Nifty 50 was up on the back of gains in Infosys, which rose 3%. ITC and Larson & Toubro also contributed to the gains in the 50-stock index. At 1350 IST, the Nifty 50 was at 25731.30 points, up 48.55 points or 0.2%, and the BSE Sensex was at 83490.57 points, up 213.42 points or 0.3%. 

Infosys was the top gainer among Nifty 50 constituents, followed by ITC, whose shares rose nearly 3%. Bharat Electronics and Adani Enterprises rose over 2%. IT companies in the index--Tech Mahindra, Wipro, HCL Technologies, and Tata Consultancy Services--were up 1-2%. Baja Auto, Asian Paints, Titan Co., and Adani Ports and Special Economic Zone rose nearly 2% each as well. 

Eternal continued to be the worst hit in the index, down over 2%. Shriram Finance, Trent, and Hindalco Industries were the other underperformers, down nearly 2%. 

All the broader market indices were higher, with Nifty Smallcap 250 rising 0.7%. The Nifty Smallcap 100 was up 0.5%. Both the Nifty Smallcap 50 and Nifty Smallcap 250 were supported by shares of Aegis Vopak Terminals, which rose over 6%.

Nifty PSU Bank was the top gainer among sectoral indices, up over 2%. Nifty PSU Bank was supported by gains in the stock of Punjab National Bank, which rose nearly 4%. Shares of its peers, Bank of Baroda, Union Bank of India, and Indian Overeas Bank rose 3-4%. Punjab National Bank and Bank of Baroda were among the top gaining stocks in the Nifty 200. 

Cochin Shipyard was the top gainer among the Nifty 200 constituents, up nearly 4%. In contrast, Swiggy was the worst hit in the Nifty 200 index, down 3%. Shares of Newgen Technologies rose after hitting an over two-year low of INR 458.65 Tuesday. The stock rose 15% to be the top gainer on the Nifty 500. 

Swiggy was the worst hit on the Nifty 200, down over 3%. Metal shares of Hindustan Zinc and National Aluminium Co. fell over 2% each and were the other worst-hit stocks in the index. Gujarat Mineral Development Corp. fell over 4% to be the worst-hit stock in the Nifty 500 index.  (Adhithya Aji)

Equity Alert: Nifty India Defence at 2-week high, Cochin Shipyard top gainer

MUMBAI--1328 IST--Shares of defence companies rose, with the Nifty India Defence rising nearly 2% to a two-week high of 8144.35 points. At 1310 IST, the Nifty India Defence was 1.5% higher on the National Stock Exchange and all the constituents of the thematic index traded higher. Shares of Cochin Shipyard, Unimech Aerospace and Manufacturing, and Astra Microwave Products were the top gainers, up 3-4%.   

The Defence stocks are likely seeing a lot of buying from retail players due to a correction in some of these stocks over the past six months to a year, according to Jyoti Gupta, lead research analyst at Nirmal Bang Institutional Equities. These stocks include BEML, Hindustan Aeronautics, and Bharat Dynamics, among others. Cochin Shipyard was the highest gainer in the index after the company was named the lowest bidder for an INR-50-billion order from the Ministry of Defence to build five next-generation survey vessels for the Indian Navy. When it comes to Defence companies, Gupta said she focusses on earnings rather than the orders received because the performance of defence companies was more dependent on the execution of these projects.

Stocks of Defence companies have come under the spotlight as French President Emmanuel Macron meets with Prime Minister Narendra Modi to discuss defence deals. Companies which have been involved in aircraft manufacturing, avionics, radar molecules, and unmanned aerial vehicles among other related technologies are seeing notable traction since last week with their delivery volumes jumping nearly 100% above their key averages in the last two days, said Anand James, chief market strategist, Geojit Investments Ltd. The relative strength index for the Nifty Defence Index remains below 50 and the relative strength index of Hindustan Aeronautics, Bharat Electronics, and Bharat Forge is around 60, which indicates relative strength and monetum in the counters. "Meanwhile, the shipbuilding segment has shown early signs of a reversal, but it may require broader participation before momentum builds further," James said. "We will continue to ride stocks like HAL, BEL, and Bharat Forge, while keeping a close watch on Mazdock, GRSE (Garden Reach Shipbuilders & Engineers), and Cochin Shipyard to capture emerging opportunities as they develop," he added.  (Akshat Saksena)

Equity Alert: Newgen Technologies rises 16% after hitting two-year low

MUMBAI--1325 IST--Shares of Newgen Software Technologies rose nearly 16% to INR 535. As the markets opened, the stock hit more than two-year low of INR 458.65. From this low, the stock bounced back, pared up the losses and rose nearly 17% from the previous close to the day's high. Shares of the company rose Tuesday after falling for five consecutive sessions in which it shed nearly 18%.

At 1244 IST, shares of Newgen Software Technologies were up nearly 14% to INR 526.10. Nearly 27 million shares of the company changed hands, which was 31 times higher than the number of shares traded till the same time Monday. Over the three months, the average daily traded volume of the stock was 604,136 shares. 

The company had detailed its December quarter earnings on Jan. 20. The software company reported an over 23% sequential fall in its consolidated net profit to INR 628.15 million. The top line of the company fell marginally on a quarter-on-quarter basis to INR 4 billion. The stock has fallen nearly 15% since the announcement of its December quarter earnings.  (Adhithya Aji)

Equity Alert: Adani Ent up 3%; group to invest $100 bln for AI data centres

MUMBAI--1320 IST--Shares of Adani Enterprises rose over 3% to reach an intraday high of INR 2,252 after the Adani group said it will invest $100 billion to develop renewable-energy-powered, hyperscale artifical intelligence-ready data centres by 2035. Prior to the exchange filing, the company's shares traded just 1% higher.

The company said that an additional $150 billion investment will also be activated across server manufacturing, advanced electrical infrastructure, sovereign cloud platforms, and supporting industries by 2035. This is projected to create a $250 billion AI infrastructure ecosystem in India over the decade, the company said. The 5-gigawatt deployment will create the world's largest integrated data centre platform, Adani Enterprises said. It will combining renewable power generation, transmission infrastructure, and hyperscale AI compute within a single coordinated architecture, the company added.

Shares of Adani Ports And Special Economic Zone rose 2.4% to its session high of INR 1,576.50. Other Adani group companies such as Adani Energy Solutions, Adani Green Energy, and Adani Power were up 1-3%.  (Eshitva Prakash)

Equity Alert: Indices rise on gains in IT companies; Infosys up 5%

MUMBAI--1226 IST--Indices were trading higher Tuesday on the back of gains in information technology companies. The Nifty 50, which rose above 25700 points, was supported by the gains in the IT majors Infosys and Tata Consultancy Services. Gains in ITC also lend support to the 50-stock index. At 1219 IST, the Nifty 50 was at 25741.60, up 58.85 points or 0.2% and the BSE Sensex was at 83548.30 points, up 271.15 points or 0.3%.  

Infosys was the top gainer in Nifty 50, up nearly 5%, followed by shares of HCL Technologies, which rose over 3%. Tech Mahindra, Wipro, and Tata Consultancy Services rose around 2% each. Shares of Asian Paints and ITC rose around 2% each. Among individual stocks, Adani Ports and Special Economic Zone, Bajaj Auto, Bharat Electronics, Titan Co., State Bank of India, Larsen & Toubro, and Sun Pharmacuetical Industries rose around 1% each.  

Eternal was the worst hit in the index, down over 2%. Hindalco Industries, Shriram Finance, and Trent fell nearly 2% each. Shares of Tata Steel, Reliance Industries, Eicher Motors, Power Grid Corp. of India, and Mahindra & Mahindra were down 1% each. 

Among the sectoral indices, Nifty IT was the top performer rising nearly 3%. The sectoral index had hit a 10-month low in Friday's session and rose slightly on Monday. In contrast, the Nifty Metal was the worst hit, down over 1%. The Nifty Metal was weighed by losses in the shares of Hindustan Copper, which fell nearly 4%. The stock was among the worst hit in the Nifty 500 as well.

Swiggy was the worst-hit stock in the Nifty 200, down 3%. Shares of Hindustan Zinc, National Aluminium Co., and Vedanta fell nearly 2% each.

Gujarat Mineral Development Corp. was the worst hit among the Nifty 500 companies, down over 4%. The stock was down for the sixth consecutive session. In contrast, shares of Newgen Software Technologies rose nearly 12% to be the top gainer in the index. Shares of Reliance Infrastructure hit the upper circuit at INR 103.85, up 5%  (Adhithya Aji)

Equity Alert: Cigarette cos up; B&K Sec says price hikes will aid earnings

MUMBAI--1210 IST--Shares of cigarette manufacturers traded higher Tuesday, with ITC gaining as much as 3% to reach an intraday high of INR 328.05. Brokerage B&K Securities said that ITC has introduced a steep price hike across key categories which will help offset the impact of excise duty hike and boost its earnings before interest and tax per stick, according to a social media post by NDTV Profit.

Shares of another cigarette and tobacco-related products' manufacturer, Godfrey Phillips India, rose over 6% to an intraday high of INR 2,144. Shares of ITC and Godfrey Phillips have dropped over 20% and 26% in January, respectively, with most of the fall attributable to the new tax regime, which raised excise duties on cigarettes in the range of INR 2,050 to INR 8,500 per 1,000 cigarette sticks, along with a 40% GST rate. However, B&K Securities has said that it sees better-than-expected price increases in around 50% of ITC's portfolio. This price hike may mitigate the drop in profitability, the brokerage said.

However, technical analysts have warned against taking long positions in these stocks until key levels are met. "The short-term outlook for ITC looks good on technical charts, but the stock will see more buying momentum only when it can sustain a rise above INR 330 in the near-term," Rupak De, technical analyst at LKP Securities said. Additionally, if the INR 330 level holds, the analyst recommends a 'buy' with a stop-loss set at INR 315.

De said that for Godfrey Phillips India to see some buying momentum, the stock must cross its immediate resistance of INR 2,250. The stock has seen a rebound after a sharp fall last month, but further upside remains hinged at the stock crossing its immediate resistance. (Eshitva Prakash)

Equity Alert: Ola Electric falls 5% to record low; Citi recommends 'sell'

MUMBAI--1145 IST--Shares of Ola Electric fell 5% to an all-time low of INR 27.36 during the session Tuesday after

brokerage firm Citi downgraded the stock to 'sell' from 'buy' recommendation and cut target price on the stock by 51% to INR 27, according to a report from CNBC-TV18. The brokerage observed that Ola's electric vehicle penetration in the Indian two-wheeler segment was slower than expected, and that the cut in goods and services tax on internal combustion engines has reduced the price gap and decelerated electrification. The company's market share losses due to service-related challenges, intense competition, and unfavourable customer perception are also key concerns.

The sluggish penetration in the Indian two-wheeler market have put a downside pressure on the company's sales, which have fallen to INR 4.70 billion in the December quarter from INR 16.44 billion in July 2024, NDTV Profit reported quoting Citi.

The company's results for the December quarter were also worse than expected due to negative operating leverage. However, the company's impressive gross margin trends along with better operating leverage can boost its earnings before interest, tax, depreciation, and amortisation, according to the brokerage. Even though the company's management is making efforts to improve its product and service quality, this could take some time to show results and until then its weak customer perception is likely to remain a key weakness, the brokerage said. Further, its large negative cash flow could cause concerns for its investors, the report added. 

At 1119 IST, shares of the company were down over 3% at INR 27.91 on the National Stock Exchange. Over 88 million shares of the company have been traded on the bourse so far, nearly 2 times higher than the shares traded till the same time Monday. Emkay Global Financial Services' is the only brokerage report on the company available with Informist, which has a 'sell' recommendation on the stock. (Akshat Saksena)

Equity Alert: HFCL up after 4-day loss; co, arm get INR-610-mln order Mon

MUMBAI--1130 IST--Shares of HFCL rose 5% to the day's high of INR 72.39. The stock snapped a four-day losing streak on Tuesday, during which it shed nearly 5%.

On Monday, the company and its material subsidiary HTL secured purchase orders worth INR 609.50 million to supply optical fibre cables to a leading private telecom service provider in India. The order is expected to be executed by May.

HFCL reported a consolidated net profit of INR 976.2 million for the quarter ended December on consolidated revenues of INR 12.11 billion. At 1118 IST, shares of the company were over 4% higher at INR 71.79 on NSE. So far, almost 16 million shares of the company have changed hands on the exchange, sharply higher than over 4 million shares traded till the same time Monday.  (Arundathi A R)

Equity Alert: TVS Supply Chain up 7%; inks aerospace, defence sector ops MoU

MUMBAI--1055 IST--Shares of TVS Supply Chain Solutions rose nearly 7% to an intraday high of INR 133.90 on the NSE Tuesday after the company, post market hours Monday, said it has signed a Memorandum of Understanding with Italy-based ALA Group to collaborate on aerospace and defence sectors in India. Under this agreement, the two companies will jointly pursue aerospace and defence supply chain opportunities, focusing particularly on defence offset programmes, TVS Supply Chain Solutions said in an exchange filing.

At 1047 IST, shares of the company were off their intraday highs, but still traded around 3% higher at INR 129.11. Over 6 million shares of the company changed hands so far on the NSE, up three-fold than the number of shares traded till the same time Monday. 

ALA Group and TVS Supply Chain companies will jointly provide integrated supply chain services across both production and aftermarket lifecycles for aerospace and defence programmes, according to an exchange filing. The aerospace and defence market in India, estimated at around $28 billion, is among the most dynamic and profitable segments within industrial supply chains, driven by sustained demand for complex, regulated, and mission-critical logistics and procurement services, TVS Supply Chain added.  (Eshitva Prakash)

Equity Alert: Indices flat as some stocks erase losses, Infosys up 3%

MUMBAI--1046 IST--Benchmark indices turned flat after opening lower as some stocks erased earlier losses. Losses in the shares of index heavyweights Reliance Industries and ICCI Bank, down around 1% each, were offset by gains in Infosys. At 1043 IST, the Nifty 50 was at 25680.90, down 1.85 points and the BSE Sensex was at 83367, up 89.85 points or 0.1%.       

Infosys continued to be the top gainer among Nifty 50 constituents, up 3%. The IT behemoth entered into a strategic partnership with American technology company Anthropic to develop artificial intelligence solutions. Its peers Wipro, HCL Technologies, Tata Consultancy Services, and Tech Mahindra, rose 1-2%. Shares of ITC rose over 2%. 

Shares of Jio Financial Services, HDFC Life Insurance Co., and Adani Enterprises gave up some losses and were 0.3-1% higher. Adani Ports and Special Economic Zone, Bharat Electronics, Sun Pharmaceutical Industries, InterGlobe Aviation, State Bank of India, and Larsen & Toubro rose around 1% each. Eternal and Hindalco Industries were the worst hit, down over 2% each. Tata Steel was down over 1%. Shares of Shriram Finance fell nearly 2%. Kotak Mahindra Bank, Mahindra & Mahindra, Cipla, Eicher Motors and JSW Steel rose around 1% each.          

All the broader market indices were up. The Nifty Smallcap 250 rose 0.5%. Over 4% gains in the stock of Akums Drugs and Pharmaceuticals supported the broader index. The Nifty Smallcap 100, which rose 0.3%, was supported by gains in the shares of Aegis Vopak Terminals, which rose nearly 2%. 

Among sectoral indices, the Nifty IT was the top gainer, up nearly 2%. Gains in the stock of Infosys supported the sectoral index. In contrast, the Nifty Metal was the worst hit, down over 1%. Shares of companies such as Steel Authority of India, National Aluminium Co., and Hindalco Industries fell 2% each and weighed on the index. These stocks were the worst hit in the Nifty 200 index as well.   

 
Cochin Shipyard was among the top gainers in the Nifty 200 index, up nearly 5%. Godfrey Phillips' shares rose nearly 4% as well. Shares of the company rose after falling for four consecutive sessions and shed over 8% during this period. In contrast, Swiggy was the worst hit in the Nifty 200 index, down nearly 3%.

Gujarat Mineral Developers was the worst hit in the Nifty 500 index, down nearly 4%. Meanwhile, Newgen Software Technologies was the top gainer in the index, up over 8%.  (Adhithya Aji)   

Equity Alert: Hindalco Ind dn for fifth session; Incred downgrades to reduce

MUMBAI--1035 IST--Hindalco Industries extended its losses to the fifth straight session Tuesday after broking firm Incred downgraded the stock to 'reduce' from 'add'. The brokerage has also revised its target price to INR 631, which is down nearly 20% from the previous target price, ET Now posted on social media, quoting the brokerage. The stock has shed nearly 9% during the five days of loss.

"Macro-driven rally and rising scrap may drive a 20% price dip, hurting Hindalco Industries' India business margins," according to an NDTV Profit report, quoting Incred. The decline in aluminium prices is likely to result in a fall in the company's earnings before interest, tax, depreciation, and amortisation. The brokerage expects the EBITDA to decline to INR 260 billion in FY28 from INR 366 billion in FY26, according to the brokerage.

It also expects the company's higher capital expenditure to lead to leveraging of its balance sheet. The company will undertake a massive capital expenditure programme of INR 700 billion over 2025–26 (Apr-Mar) to FY28.

At 1006 IST, shares of the company were over 2% lower at INR 887.05 on NSE. So far, over 2 million shares of the company have changed hands on the exchange, slightly higher than the number of shares traded till the same time Monday.

Of the 10 brokerage reports available with Informist on the company, five have a 'hold' recommendation with an average target price of INR 920. Of the remaining five, four have a 'buy' recommendation with an average target price of INR 1,037 and one has a 'sell' recommendation on the stock.  (Arundathi A R)

Equity Alert: Texmaco Rail surges 11% as co bags INR-2.19-bln railway order

MUMBAI--1030 IST--Shares of Texmaco Rail & Engineering rose over 11% to an intraday high of INR 123.47 on the NSE after the company bagged an order worth INR 2.19 billion from Mumbai Rail Vikas Corp. Before Tuesday's sharp rally, stocks of the company had declined 8.6% in five consecutive sessions.

This order from Mumbai Rail Vikas Corp. is to design, supply, install, test, and commission signalling equipment or gears in connection with construction of the proposed line in Mumbai Suburban. "The work is to be completed within 36 months from issuance of Notice to Proceed," Texmaco Rail said in an exchange filing. The value of this contract is almost one-fifth of the company's INR 10.41 billion revenue for the December quarter.

Nuvama Institutional Equities has a 'buy' recommendation on the stock with a target price of INR 147 and brokerage SMIFS also has a 'buy' call with a target price of INR 181. (Eshitva Prakash)

Equity Alert: Infosys up after Anthropic partnership; other IT cos also rise

MUMBAI--1000 IST--Shares of Infosys rose over 3% to an intraday high of INR 1,411 on the NSE. The company early Tuesday announced that it was partnering with Anthropic to develop artificial intelligence solutions. Shares of other IT companies also bounced back after taking a beating during the previous few sessions. HCL Technologies, Tech Mahindra, Tata Consultancy Services, and Wipro were up 1–3%.

The collaboration between the two companies aims to integrate Anthropic's Claude models, including Claude Code, with Infosys Topaz AI offerings to help enterprises automate complex workflows and accelerate software delivery, Infosys said in an exchange filing. 

Anthropic's new AI tools for its Claude AI platform released in January sent shock waves through shares of traditional software makers globally, as investors feared a hit to the earnings of traditional software makers, particularly those that depended on outsourced US contracts. However, domestic IT analysts had previously said that the correction seen in technology stocks last week was a knee-jerk reaction and Indian IT players were well situated to benefit from AI developments as they will look to partner with companies such as Anthropic in order to diversify their offerings. 

Additionally, technology majors have already started taking proactive steps in order to understand the AI impact, Rishab Vasa, research analyst from Indsec Securities & Finance, said. The analyst pointed out that Tata Consultancy Services has recently announced a slew of partnerships with AI companies in an attempt to capitalise on AI-related gains. While some pockets of Indian IT companies may face headwinds as AI tools become more popular, enterprises want customised software, and they trust Indian IT offerings, the analyst said.  (Eshitva Prakash)

Equity Alert: Fortis Health falls 1% despite positive outlook by brokerages

MUMBAI--0949 IST--Fortis Healthcare fell over 1% to a low of INR 906 after the company reported its December quarter numbers after market hours on Friday, with the management holding a post-earnings conference call Monday during market hours. The company reported a sharp decline of nearly 22% on year in its net profit at INR 1.94 billion, below expectations of INR 2.6 billion. The company's net revenue rose over 17% on year to INR 22.65 billion, in line with the estimate of INR 22.66 billion. Despite the company reporting a sharp fall in its bottom line, brokerages are optimistic about the stock and the company's performance for the quarter.

The company missed estimates for net profit due to high interest costs, Nuvama Institutional Equities said. The company's hospital segment revenue growth was led by volumes, while its Agilus subsidiary continued to recover and recorded an annual growth of 7%. The brokerage believes the healthcare delivery service provider is still well positioned to deliver compounded annual growth of 20% in its revenue for 2025-26 (Apr-Mar) to FY28 and growth of 25% in its earnings before interest, tax, depreciation, and amortisation over the period. This would be led by the company's strategic bed expansion plans, operational revival in its existing hospitals, along with a continued recovery and growth momentum in Agilus. Subsiding legal overhangs and pursuit of opportunities for merger and acquisitions are also factors, the brokerage said. Nuvama retained its 'buy' recommendation and raised the target price on the company to INR 1,145 from INR 1,115. 

SMIFS Ltd. expects the company's revenue from its healthcare segment to rise over 19% on year as it did for the reporting quarter. This is expected to be led by growth of 4.5% in average revenue per operating bed with an expected occupancy of 67%. The company's brownfield expansion and fees from its operating and maintenance agreement with Gleneagles will lead operating leverage and enhance "cluster dominance and clinical synergies." The brokerage raised its recommendation to 'buy' from 'accumulate' and raised its target price on the stock slightly to INR 1,110 from INR 1,080.

The company reported a strong quarter with EBITDA growth of 35% on year at INR 5.1 billion and its hospital business margin improved 550 basis points on year to 23% for FY23 to the nine months ended in FY26. Prabhudas Lilladher Institutional Equities expects further scope for improvement in its hospital margin on the back of improving case and payor mix, cost rationalisation along with ramp-up of its units in Manesar and Greater Noida, and brownfield bed additions. The acquisition of Shrimann Hospitals and the agreement with Gleneagles are also expected to help margins expand. The brokerage expects the company to report a compound annual growth rate of 20% in its EBITDA over FY26-FY28, maintaining its 'buy' recommendation but reducing its target price to INR 1,050 from INR 1,120. 

Brokerage firm Citi maintained its 'buy' rating on the stock and retained its target price of INR 1,120, according to a social media post by ET Now. The brokerage is optimistic on the stock due to the company's sustained execution and expansion visibility. The company's new units in Manesar and Jalandhar are also performing well, the brokerage was reported as saying.

At 0929 IST, shares of the company were down nearly 1% at INR 908.65 on the National Stock Exchange. Over 223,000 shares of the company were traded on the bourse so far, higher than the nearly 188,000 shares traded till the same time Monday. Out of seven brokerage reports on the company with Informist, five have a 'buy' recommendation with an average target price of INR 1,099 and two have a 'hold' recommendation on the stock.  (Akshat Saksena)

Equity Alert: Benchmark indices open lower; metal, banking stocks down

MUMBAI--0945 IST--Benchmark indices opened lower Tuesday with metal and banking sector stocks the key losers. The Nifty 50 was dragged down by the fall in shares of index heavyweights Reliance Industries, ICICI Bank, and HDFC Bank, down 1% each. A fall in the shares of Eternal and Hindalco Industries also weighed on the index.  

At 0938 IST, the Nifty 50 was at 25600.15 points, down 82.60 points or 0.3%, and the BSE Sensex was at 83089.03 points, down 188.12 points or 0.2%. More than half of the Nifty 50 constituents traded lower.  

Infosys was the top gainer in the 50-stock index, up nearly 3%. Shares of its peers, Tech Mahindra, Tata Consultancy Services, HCL Technologies, and Wipro rose 1-2%. Bharat Eectronics, Asian Paints, ITC, and InterGlobe Aviation rose nearly 1% each. 

In contrast, Hindalco Industries and Eternal were the worst hit in the index, down nearly 3% each. Shares of financial services companies Shriram Finance, Bajaj Finance, Bajaj Finserv, and Kotak Mahindra Bank were down 1% each. Among individual stocks, Tata Steel, JSW Steel, Cipla, Grasim Industries, and Max Healthcare Institute fell around 1% each.

Nifty India Defence rose over 1% on the back of gains in Cochin Shipyard. Cochin Shipyard rose nearly 6% to be the top gainer in the Nifty 200 index. The ship-maker was declared the lowest bidder for an INR 50 billion order from the Ministry of Defence. The order is to build five next generation survey ships for the Indian Navy. Shares of its peers Unimech Aerospace, Mtar Technologies, Paras Defence And Space Technologies, and Dynamatic Technologies rose 2-3%.  

Food delivery firms Swiggy and Eternal were the worst hit in the Nifty 200, down nearly 3% each. Ola Electric Mobility and Brainbees Solutions were the worst hit in the Nifty 500, down nearly 5% and over 3%, respectively. Praj Industries was the top gainer among the Nifty 500, up nearly 8%.  (Adhithya Aji)

Equity Alert: Cochin Shipyard up 7%; co named lowest bidder for defence order

MUMBAI--0930 IST--Shares of Cochin Shipyard rose over 7% to a high of INR 1,574.50 on the NSE Tuesday after the company was named the lowest bidder for an INR-50-billion order from the Ministry of Defence. The order is to build five next-generation survey vessels for the Indian Navy. Shares of the company rose after falling for four days, during which they shed 4%.

The company expects the final announcement of the contract once a few formalities are done. For the quarter ended December, Cochin Shipyard reported a net profit of INR 1.45 billion on revenue of INR 13.50 billion. This contract's value is almost four times its top line for the December quarter. 

Around 1.6 million shares of the company exchanged hands on the exchange as of 0930 IST. This is 24 times the number of shares traded in the opening minutes of trading Monday. The company's stock has declined 7% so far in February and, over the course of six months, has declined over 8%. Kerala-based Cochin Shipyard is a shipbuilding and ship repairing company.  (Eshitva Prakash)

Equity Alert: Prabhudas Lilladher initiates coverage on Fractal Analytics 

MUMBAI--0907 IST--Prabhudas Lilladher has initiated coverage on the newly listed stock of Fractal Analytics with a 'buy' rating and a target price of INR 1,260. The company has demonstrated consistent and steady revenue performance over the past decade, with a 27% compuond annual growth rate in dollar terms, along with robust client retention of 98%, a strong sales engine, and research and development led innovations, the brokerage said. 

Fractal operates in the analytics space that powers decision-making process for large enterprises by leveraging AI tools and services. The company derives 80% of its revenue from existing accounts with 98% annuity-led revenue. Backed by a robust sales engine with 150 members, the company continues to scale wallet share, Prabhudas Lilladher said.

"Fractal is systematically graduating accounts across tiers, while broadening its base, implying structured account mining," the brokerage said. The company's execution strength comes from the leadership pedigree as founders and senior executives have deep AI, analytics, and enterprise transformation expertise. This will enable perpetual engagement rather than project-level selling. The company's engagements are centred on upstream AI architecture combining data engineering, enterprise-grade customised reasoning models, and agentic AI softwares. With 40% of the company's revenue coming from the revenue growth management segment along with over 50% exposure to healthcare and life science solutions and consumer-packed goods services, the company's vertical and functional mix is well aligned for higher growth in industry segments and AI functions, Prabhudas Lilladher said.

It expects the earnings before interest, tax, depreciation, and amortisation of the company to grow at a compound annual growth rate of 30.9% and net profit to grow at 44.5% over 2025-26 (Apr-Mar) to FY28. The revenue in dollar terms is expected to grow at a compound annual growth rate of 19.3% for the same period.

On Monday, shares of the company ended nearly 6% lower at INR 847.15 on the National Stock Exchange. The stock was listed on the same day at INR 876, a 3% discount to its issue price of INR 900 per share.  (Adhithya Aji)    

Equity Alert: Citi sees valuation gap compression in IT stocks on AI concerns

MUMBAI--0905 IST--Brokerage firm Citi expects some valuation gap compressions in the information technology sector due to artificial intelligence-linked concerns and reduction in domestic institutional investor positions. The brokerage expects volumes of IT stocks to increase, NDTV Profit posted on its social media, quoting Citi.

However, the brokerage firm has a cautious view on Indian IT services due to concerns over uncertain spending, technology changes, increasing competition, faster growth of global capability centres, and the impact of AI. The brokerage prefers Infosys and HCL Technologies among the large-cap IT stocks.

On Monday, shares of Infosys closed the day marginally lower at INR 1,365.60 on the NSE with nearly 15 million shares changing hands on the exchange. This is lower than nearly 46 million shares traded on Friday. Of the 20 brokerage reports available with Informist on Infosys, 17 have a 'buy' recommendation with an average target price of INR 1,848, while the remaining three have a 'hold' recommendation.  

Shares of HCL technologies ended 0.5% higher Monday at INR 1,461.80 on the NSE with over 2 million shares changing hands on the exchange. This is lower than over 7 million shares traded on Friday. Of the 18 brokerage reports available with Informist on HCL Technologies, nine have a 'buy' recommendation with an average target price of INR 1,854. Of the remaining nine, seven have a 'hold' recommendation with an average target price of INR 1,691 and two have a 'sell' recommendation.  (Arundathi A R)

Equity Alert: Indices seen in range; volatility likely on weekly F&O expiry

MUMBAI--0830 IST--Benchmark equity indices are seen in a range and some volatility is likely due to the expiry of the Nifty 50's weekly derivatives contracts Tuesday. Liquidity is expected to be limited globally on Tuesday as the US equity market was closed Monday on account of Presidents' Day and markets in China, South Korea, and Singapore are closed on account of the Lunar New Year holidays. 

Analysts are positive on the India-US trade deal and said investor sentiment might get a boost from the trade secretary's announcement on Monday that the US could drop 32% tariffs on India as early as this week. Commerce Secretary Rajesh Agrawal Monday said a delegation would travel to the US next week to ‌finalise the trade agreement between New Delhi and Washington. The official deal is expected to be completed by March when the two sides sign a bilateral trade agreement. 

Shares of information technology companies will be in focus once again after the Nifty IT index snapped a three-session losing run on Monday. The Nifty IT index has dropped nearly 9% over these three sessions, in the wake of the global rout of traditional software companies which face competition from artificial intelligence tools. The AI Impact Summit in Delhi is expected to provide direction for IT and IT services companies.

As the December quarter earnings season draws to a close, investors are now focussing on sectors that can outperform in the next quarter. "Earnings were decent this quarter and banks, especially, outperformed," Dhaval Patel, assistant fund manager fixed income at Axis Mutual Fund, said. "Some asset repricing played out, but overall the net interest income was good (for banks)," the analyst said. "Credit and loan book growth was a particular highlight for the quarter." The analyst also praised December quarter earnings of renewable energy companies.

At 0828 IST, the GIFT Nifty 50 indicated a slightly negative start for the Nifty 50, with the February contract of the GIFT Nifty being over 53 points lower than the Nifty 50's previous close. On Monday, the Nifty 50 index closed 0.8% higher at 25682.75 points. The BSE Sensex closed at 83277.15 points, up 0.8%.

On the global front, Japan's Nikkei 225 was down almost 1% and the Topix index was down 0.8%, falling for the third straight session. Japan on Monday reported that its economy grew an annualised 0.2% in the fourth quarter, far below the 1.6% forecast as government spending dragged on activity, according to the report. Australia's S&P ASX 200 was 0.4% higher in early trading Tuesday.  (Eshitva Prakash)

Equity Alert: Most Asian mkts closed for Lunar New Year; Japan indices down

MUMBAI--0745 IST--Most Asian stock markets such as in Mainland China, Hong Kong, Taiwan, Singapore, and South Korea were closed Tuesday on account of Lunar New Year. The US markets were closed Monday on account of President's Day. The Australian S&P/ASX 200 Index was higher but indices in Japan were down.

Indices in Japan were under pressure coming off a session marred by unsatisfactory GDP numbers for the country. The country's economy grew 0.2% on year in the December quarter and was far below the 1.6% growth forecast. The economy barely recovered from the 2.6% contraction seen in the previous quarter, Reuters reported. The Bank of Japan has scheduled its next meeting in March as traders forecast a slim possibility of a rate hike. The central bank is expected to wait until July before it tightens its policy again, according to Economists polled by Reuters.

"It shows that the economy's recovery momentum is not very strong," Meiji Yasuda Research Institute economist Kazutaka Maeda was quoted as saying. "Consumption, capital expenditure and exports - areas we hoped would drive the economy - just haven't been as strong as we expected," Maeda added. "The market has likely assumed that softer GDP data in the fourth quarter will encourage PM Takaichi's plans to offer additional fiscal support and reduce the sales tax on food," analysts from National Australia Bank were reported as saying in a note. 

In Australia, the country's central bank said inflation would stay persistently high had it not hiked interest rates this month, Reuters reported. The bank also said it was not sure if further tightening would be required.

Crude oil prices rose ahead of talks between the US and Iran to de-escalate tensions. Iran's Revolutionary Guards performed a drill in the Hormuz Strait Monday, a day before the nuclear negotiations. The Hormuz Strait accounts for 20% of global oil shipments. Global uncertainties have left markets unsure as investors adopt a cautious approach due to the pending talks between the US and Iran and the Ukraine negotiations this week, analysts from ANZ were reported as saying. "Speculative positions have been increasing in recent weeks. If tension in the Middle East eases or meaningful progress is made on the Ukraine war, the risk premium currently built into oil prices could swiftly unwind," they added.

Following are the levels of key Asian indices at 0746 IST:

(Akshat Saksena)

US$1 = INR 90.67

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.

All times are Indian Standard Time.

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