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Informist, Thursday, Feb. 19, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Nuvama raises Hitachi Energy target price by 8% to INR 26,400

 

MUMBAI--0858 IST--Nuvama Institutional Equities has raised target price on the stock of Hitachi Energy India by nearly 8% to INR 26,400 and maintained a 'buy' recommendation. Transmission and distribution capital expenditure cycle is likely to remain structurally strong well beyond 2031–2032 (Apr-Mar), firm the brokerage said after an interaction with N. Venu, managing director, and Ajay Singh, chief financial officer, of Hitachi Energy.

 

The domestic and export business of the company is expected to be healthy with demand visibility for the next five to six years. The current earnings before interest, tax, depreciation, and amortisation margin is sustainable with an upside potential from operating leverage over FY27 to FY28, Nuvama said. The other growth drivers for the company are the data centres segment with 15% wallet share, railways segment revival over next 12 to 18 months, and high-voltage direct current pipeline, the brokerage added.

 

The management of the company remains confident of sustaining margins of 16.6% in the December quarter and 14.8% in the nine months ended FY26. Further upside is expected on margins due to operating leverage led by volume growth, stable rising exports mix, and growing services opportunities, according to Nuvama. Exports currently contribute 25% of sales and could sustain at 25-30%. However, the strategic focus still remains on domestic business, the brokerage added. 

 

"Royalty fees are likely to remain stable and are critical for access to cutting-edge technology access from the global parent," Nuvama said. Hitachi Energy is also developing and co-investing in its Indian supplier base to cater to both India and exports markets, the brokerage said. 

 

Wednesday, shares of Hitachi Energy ended nearly 3% higher at INR 23,569 on the National Stock Exchange.  (Adhithya Aji)

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Equity Alert: Indices seen in range; 26000 level key hurdle for Nifty 50

 

MUMBAI--0825 IST--Benchmark equity indices are expected to be in range with a positive bias Thursday. The 26000 mark will be a key resistance for the Nifty 50 and volatility in information technology stocks is likely to continue, technical analysts said. Oil and gas companies may react strongly to a sharp jump in oil prices after J.D. Vance, vice-president of the US, said Iran did not address all the conditions in nuclear talks between the two nations, according to media reports.

 

"Overall, IT stocks may remain weak since uncertainty surrounding the sector is huge and large institutional investors are unlikely to invest big time in IT stocks, unless valuations become compelling," V.K. Vijayakumar, chief investment strategist, Geojit Investments, said in a note. "There can be churns away from IT towards other sectors like banking and financials, automobiles, telecommunications, pharmaceuticals, etc., where there is good earnings visibility," he added. 

 

Shares of oil explorers and refiners may react as Brent crude oil futures rose on Iran-US tensions. The two sides had different accounts of the nuclear talks, Al Jazeera reported. Iranian officials said both parties had agreed on guiding principles, but Vance said Iran had yet to respond to all of Washington's "red lines," according to the report. On Wednesday, the April futures contract of Brent crude ended 4% higher at $70.35 per barrel. At 0738 IST, the contract held onto its gains and was at $70.41 per barrel.

 

Overnight, indices in the US ended higher with the tech-laden Nasdaq Composite gaining nearly 1% and the S&P 500 ending 0.6% higher. Key technology names such as Nvidia and Amazon aided the rise of US indices, media reports said. Minutes of the US Federal Reserve's meeting in January showed that central bankers were split on the interest rate trajectory going forward. Some participants of the Federal Open Market Committee said that rate hikes could be on the table and wanted the post-meeting statement to more closely reflect "a two-sided description of the Committee's future interest rate decisions," according to the report.

 

Equity markets in China were closed on account of the Lunar New Year holiday. Japan's Nikkei 225 and the broader Topix index were up almost 1%. South Korea's Kospi, which opened after a three-day holiday, was nearly 3% higher, touching yet another record high.

 

At 0752 IST, the GIFT Nifty 50 indicated slight gains for the Nifty 50. The February contracts of the Nifty 50, trading on the NSE international exchange, were 40 points higher than the Nifty 50's previous close. On Wednesday, the Nifty 50 index closed 0.4% higher at 25819.35 points. The BSE Sensex closed at 83734.25 points, up 0.3%.  (Eshitva Prakash)

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Equity Alert: Asian indices rise; KOSPI, Australian index record fresh highs

 

MUMBAI--0820 IST--Equity indices in Asia were higher on Thursday, with South Korea's Kospi index and the Australian S&P/ASX 200 Index hitting fresh highs. The South Korean index reached fresh highs in its first session after the Lunar New Year holidays. Markets in Hong Kong and mainland China remained closed. 

 

Markets in the region tracked gains in tech stocks on Wall Street while tensions between Iran and the US suported oil and gold prices, Reuters reported. In Japan, indices were up for a second session due to gains in tech stocks. Value of core machinery orders in Japan, adjusted for seasonality, rose 19.1% on month in December. This beat foracasts of an increase of 5.1?ter a contraction of 11% in November, RTT News reported, citing data from the country's Cabinet office. 

 

The KOSPI rose to its all-time high and crossed the 5600 point mark for the first time on the back of gains in stocks such as Samsung Electronics and SK Hynix, up over 4% and nearly 2%, respectively. In the stock market, individuals were net buyers of shares worth 132.70 billion Korean won while foregin investors net sold shares worth 152.7 billion Korean won, according to a report from Chosun.

 

Following are the levels of key Asian indices at 0808 IST:

 

INDEX	LEVEL	CHANGE IN %
KOSPI	5661.64	2.81
Nikkei 225 Day	57603.48	0.80
TOPIX FIRST SECTION	3844.39	0.98
FTSE Singapore Straits Times	4993.17	1.11
S&P/ASX 200 Index	9102.10	1.06

 

(Akshat Saksena)

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Equity Alert: US indices end higher; S&P 500, Dow Jones up for 3rd session

 

MUMBAI--0741 IST--Equity indices in the US ended higher on Wednesday, with the S&P 500 and the Dow Jones Industrial Average closing with gains for the third consecutive session. This comes as technology stocks recover after the sector saw weakness due to fears over artificial intelligence. Traders in the country also analysed minutes of the latest US Federal Reserve meeting.

 

Shares of NVIDIA rose nearly 2?ter the company said it has signed a multi-year deal with Meta Platforms to sell millions of its current and future AI chips, Reuters reported. Shares of Meta Platforms ended nearly 1% higher as well. Shares of Sandisk, Western Digital, and Seagate Technology Holdings gained 2-4%, adding to the gains in recent months on the back of massive AI-related demand for their storage technology. 

 

AI stocks were weak earlier this month as investors assessed concerns due to their high valuations and the amount of time it might take for investments in AI to yield results, Reuters said. "At a certain point, weakness in tech was bound to bring in the marginal buyer. These are still high-growth names. They were expensive and they've gotten cheaper," Ross Mayfield, an investment strategy analyst at Baird in Louisville, Kentucky was reported as saying. "There are still a lot of people who want to be exposed to tech for the next several years," he added.

 

Federal Reserve officials were in almost unanimous agreement to keep interest rates steady at their meeting last month. However, they remained divided on what might happen next, minutes of the meeting showed. Investors are pricing in a 50% possibility of a 25-basis-point interest rate cut at the US Federal Reserve's meeting in June.

 

Shares of Amazon rose nearly 2% after regulatory filings showed Bill Ackman's Pershing Square raised its stake in the company by 65% in the December quarter, making Amazon its third-largest holding, CNBC reported. This comes after the company's stock snapped a nine-session losing streak. David Tepper's hedge fund Appaloosa disclosed that it has turned Micron Technology into one of its biggest holdings, betting $285 million on the company as the position now accounts for 6% of the fund's reported assets, TheStreet reported. Shares of Micron Technology surged over 5%. 

 

The S&P 500 software and services sector rose during the session on the back of gains in Cadence Design Systems, Reuters reported. Shares of the company rose nearly 8?ter the chip-design software provider beat revenue estimates for the December quarter.

 

Investors also analysed developments between US and Iran, CNBC reported. US Vice-President J.D. Vance Tuesday said Iran had failed to address US red lines during the talks this week and that the possibility of military action was still on the table.

 

Following are the closing levels of US indices Tuesday:  

 

Index	Level	Change in %
S&P 500	6881.31	0.56
NASDAQ Composite	22753.64	0.78
Dow Jones Industrial Average	49662.66	0.26

 

(Akshat Saksena)

 

US$1 = INR 90.67

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

 

Edited by Vandana Hingorani

 

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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