Equity Alert
Kalpataru Projects shrs rise 3% after co wins INR 44-bln orders
This story was originally published at 15:16 IST on 24 March 2026
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Equity Alert: Kalpataru Projects shrs rise 3?ter co wins INR 44-bln orders
MUMBAI--1500 IST--Shares of Kalpataru Projects International Ltd. rose over 5% to the day's high of INR 1,073 on the NSE Tuesday after the company said that it, along with subsidiaries, had won orders worth INR 44.39 billion in the transmission and distribution business. The orders include setting up a 400 kilovolt transmission line and substations in Africa, a substation project in Sweden, and transmission line projects in India.
"With these wins, we have surpassed our annual order intake target of INR 260 billion," said Manish Mohnot, managing director and chief executive officer of the company. The transmission and distribution, and buildings and factories businesses account for nearly 50% and 40% of the company's 2025-26 (Apr-Mar) inflows year-to-date, respectively, he added.
At 1500 IST, shares of the company were off their highs, but still up 3% compared to the previous closing price. All the 10 brokerage reports available with Informist on the stock have a 'buy' recommendation with an average target price of INR 1,471. (Eshitva Prakash)
Equity Alert: HDFC Bank up; asks law firms to review ex-chair's resignation
MUMBAI--1446 IST--Shares of Nifty 50 heavyweight HDFC Bank rose nearly 4% to an intraday high of INR 772.75. The stock rose after falling for four consecutive sessions during which it shed nearly 12%. The bank has appointed external domestic and international law firms to review former part-time chairman Atanu Chakraborty's resignation letter. Board members have maintained that Chakraborty did not give details at the board meeting at which his resignation letter was discussed.
Chakraborty resigned last week, saying certain practices in the bank did not align with his personal ethics. This sparked scrutiny among investors regarding the bank's governance. Tuesday, the bank said it has appointed law firms to review Chakraborty's resignation letter and submit a report within a "reasonable period of time".
The bank also confirmed Monday that it had removed three employees following wrongdoing in the Dubai branch last year. HDFC Bank was responding to media reports saying authorities in Dubai had found mis-selling of bonds at the branch after which the branch was prohibited from taking new clients on board.
At 1445 IST, shares of HDFC Bank were up over 3% at INR 767.50. Nearly 44 million shares had changed hands on the bourse, down from nearly 58 million traded till the same time Monday. Over the last 30 days, the stock has shed nearly 16%. Over the past 90 days, it has lost over 23%. (Adhithya Aji)
Equity Alert: Mkt maintains intraday gains; Nifty 50 sees selling above 23000
MUMBAI--1350 IST--Benchmark indices largely held on to their gains but the Nifty 50 faced some selling above the 23000 level. Barring two, all constituents of the 50-stock index were trading with gains. Interglobe Aviation was the top gainer, up 4.8% and closely followed by Larsen & Toubro, Eternal, UltraTech Cement, and Shriram Finance, all up over 4%.
AT 1347 IST, the Nifty 50 was at 23037.90, up 525.25 points or 2.3% and the BSE Sensex was at 74434.60, up 1738.21 or 2.4%. India VIX declined significantly by around 6% intraday. The mid-cap and small-cap indices, which were up 2.3-2.8%, performed a tad better than benchmark indices. Only four stocks were down in the Nifty 200 universe and all sectoral indices gained Tuesday. The Nifty Pharma, the sectoral index that gained the least against its peers, was up about 1%.
Shares of Nifty 50 constituent Power Grid Corp. faced selling pressure and was down nearly 1%, though some brokerages were positive about the stock in the long term. Elara Securities retained its 'buy' call on Power Grid and hiked the target price to INR 360 from INR 339. The brokerage estimates transmission opportunities amounting to INR 15 trillion in the next decade and Power Grid can capture 50% of the market share.
Shares of consumer durable companies Voltas, Whirpool of India, Amber Enterprises, Dixon Technologies, and Crompton Greaves Consumer Electricals were up 2-4%. Sentiment improved as concerns about production delays from lower liquefied petroleum gas likely abated after US-Iran tensions showed signs of easing.
Financials also showed resilience in trade Tuesday. All major private and public sector bank stocks gained. Shares of Kotak Mahindra Bank, Canara Bank, Federal Bank, and IDFC First Bank rose over 3.5%. (Ruchira Kagita)
Equity Alert: Indices rise more as auto cos up; Nifty 50 touches 23000 level
MUMBAI--1259 IST--The Nifty 50 index inched closer to 23000 levels as crude oil prices came off highs. Most stocks were up, with only two constituents of the Nifty 50 trading in the red. Benchmark indcies extended gains from early trade after automobile, information technology, and some banks rose more.
At 1250 IST, the Nifty 50 index was up more than 2% at 22985 points, partially recovering from Monday's fall. The Sensex was also up over 2% at 74358 points. Brent crude oil May futures came off highs to $102.66 per barrel from over $104 per barrel in the morning.
Shares of Interglobe Aviation, Shriram Finance, Apollo Hospitals Enterprise, and Eternal were the top gainers in the 50-stock index, climbing around 4-5%. Gains in the stocks of technology majors also supported the Nifty 50, with shares of Tech Mahindra, Infosys, HCL Technologies, and Tata Consultancy Services rising 2-3%.
Shars of HDFC Bank and Kotak Mahindra Bank rose more, around 3.5?ch, adding to gains in the Nifty 50 index. Stocks of all other banks in the 50-stock index traded higher with shares of State Bank of India recovering from a minor fall intraday to trade over 1% higher. The Nifty PSU Bank index was over 2% higher.
Shares of Power Grid Corp. of India and Coal India Ltd. were the major laggards in the Nifty 50, with Coal India being the worst hit stock in the Nifty 200 as well. Shares of Coal India were down nearly 3%. Vishal Mega Mart was the top performing stock in the Nifty 200, up nearly 6%. It was followed by shares of Tube Investments of India and GMR Airports, which were up over 5?ch. (Shruti Nair)
Equity Alert: Bharat Electronics top pick within defence sector, says Nuvama
MUMBAI--1245 IST--Bharat Electronics is Nuvama's top pick in the defence sector, though the brokerage believes the company's valuations are still elevated. A re-rating for the company would depend on its order inflows and execution, Nuvama said. Any contraction in its earnings before interest, tax, depreciation, and amortisation margins from current levels would weigh down the stock, the brokerage said. The company posted an EBITDA margin of 29.2% for the nine months ended December, Nuvama noted. Shares of Bharat Electronics rose nearly 3% to the day's high of INR 416.45.
Nuvama remains positive on Data Patterns as it expects the defence electronics space to grow at a compounded annual rate of 7–8% over the next five years. Data Patterns' focus on indigenous product development makes it unique in the defence sector, Nuvama said. Shares of Data Patterns rose nearly 5% intraday Tuesday. Lower dependence on imports, robust order books and greater export opportunities are pegged as the key growth levers for the company, the report said.
In the defence ammunition space, Solar Industries is the brokerage's top pick. The company's execution path is healthy with robust potential for exports, and its dependence on technology is lower compared to its peers, Nuvama said. Solar Industries' revenue is likely to grow at a strong pace in the medium term, the report said.
Execution worries linger for Hindustan Aeronautics as investors seek more clarity on deliveries of its Tejas jets. Supply chain constraints and concerns around availability of engines might persist for some time, Nuvama said in its report. However, having a strong order book for the long term is likely to play out well for the company. Bharat Dynamics will also have to improve its execution for any re-rating of the company's share price, Nuvama said.
Shares of Paras Defence and Space Technologies, Data Patterns (India), BEML, Cochin Shipyard, and MTAR Technologies were 3-5% higher on Tuesday. At 1244 IST, Nifty India Defence was up over 2%. Shares of Unimech Aerospace and Manufacturing, down over 2%, were the sole drag on the defence index. Defence companies have been in focus since hostilities in West Asia worsened with the US and Israel attacking Iran. Expectations of defence spending going up globally have set in among investors. (Ruchira Kagita)
Equity Alert: Auto companies gain on various positive cues; Nifty Auto up 1%
MUMBAI--1138 IST--Shares of autombile companies were traded on a positive note Tuesday. The Nifty Auto rose 1.4% with all the constituents trading in the green. Analysts are of the view that these stocks took positive cues from the overall market sentiment as benchmark indices rose after US President, Donald Trump, said that the US would postpone attacks on Iran's power plants and energy infrastructure for five days following dialogue with Tehran.
Shares of Tube Investments of India, Eicher Motors, Hero MotoCorp, and Uno Minda rose 2-5% in the Nifty Auto. The auto constituents in the Nifty 50 – Tata Motors Passenger Vehicles, Bajaj Auto, Maruti Suzuki India, and Mahindra & Mahindra rose around 1?ch. The auto companies have been trading with a cautious sentiment since the beginning of military action in West Asia, as rising crude oil prices were likely to weigh on the margins of these companies.
"Broadly, the situation looks so far manageable," said an analyst tracking the sector with a domestic brokerage. The companies may take a call to pass through some of the higher input costs to customers or may wait until there is further clarity on the West Asia crisis, the analyst said. Once clarity is reached, the crude oil prices are likely to come off highs and commodity prices would ease, the analyst added.
On Friday, Tata Motors Passenger Vehicles announced that it would increase the prices of passenger vehicles with internal combustion engine by an average 0.5% from Apr. 1. The company said that this price hike is to mitigate the increase in input costs.
The government has restored the rates and value caps Remission of Duties and Taxes on Exported Products scheme for all eligible export products from Monday. This is beneficial for certain auto companies as they have realised RoDTEP benefits in the range of 0.5–1.2% of their export revenues, ICICI Securities said in a note. "Since most of the players make healthy double-digit margins and export revenues are less than 50% of the overall pie, the earnings impact was expected to be limited in nature and therefore this provides partial relief to the exporters," the brokerage said.
Shares of electric bus makers, JBM Auto and Olectra Greentech were among the top gainers in the Nifty 500 index. These stocks rose nearly 7% and 6%, respectively. Monday, the government said in Rajya Sabha that around 10,000 electric buses would be provided to 116 cities across 26 states by the end of 2027. This is part of the Prime Minister eBus Sewa Scheme, NDTV Profit reported. (Adhithya Aji)
Equity Alert: Indices come off opening highs; energy and pharma cos down
MUMBAI--1049 IST--Benchmark indices came off their opening highs after crude oil prices resumed their climb with May futures contract of Brent Crude oil trading over $104 per barrel. Gains in the Nifty 50 index were led by stocks of banks. At 1119 IST, the Nifty 50 was at 22731 points, up 218.35 points, or 1%, and the BSE Sensex was at 73436.05 points, up 739.66 points, or 1%.
Apollo Hospitals Enterprise and Shriram Finance were the top gainers in the 50-stock index, up around 3?ch. Other top performers include stocks of Eternal, Kotak Mahindra Bank, Larsen & Toubro, and Interglobe Aviation, which were all up over 2?ch.
Gains in the shares of Nifty 50 heavyweights, HDFC Bank and ICICI Bank also supported the index, up around 1.8% and 0.6%, respectively. Shares of Axis Bank were up modestly. Banking indices were the top performers among sectoral indices, with the Nifty Private Bank index being top gainer, up 1%.
Shares of state-owned energy companies were the worst hit in the Nifty 50 with Coal India and Power Grid Corp. of India being the biggest laggards, down 2% and 3%, respectively. Nifty Energy and Nifty Pharma were the worst hit among sectoral indices, down 0.1?ch.
Shares of most auto and auto ancillary companies rose Tuesday after their sharp fall in the previous session, mirroring the upbeat broader market sentiment. The Nifty Auto index rose nearly 1% and was among the top gaining sectoral indices with all constituents except Sona BLW Precision Forgings trading in the green.
In the Nifty 500, shares of electric bus makers JBM Auto and Olectra Greentech were the top gainers. The stocks rose after the government Monday said in Parliament that it plans to deploy 10,000 air-conditioned electric buses by 2030. Shares of Onesource Specialty Pharma and Chennai Petroleum Corp. were the worst performers, down nearly 5?ch. (Shruti Nair)
Equity Alert: GSP Corp Science lists at INR 328, 2.5% premium to issue price
MUMBAI--1045 IST--Shares of GSP Corp Science listed at INR 328 on National Stock Exchange Tuesday, a premium of over 2.5% to the issue price of INR 320. On the BSE, the shares listed at INR 332.30, a premium of around 4% to the issue price. At 1039 IST, shares of the company traded at INR 330.20 on the NSE, up around 3.2% from the issue price. So far in the day, 7 million shares of the company changed hands on the NSE.
The initial public offering of the company, which closed Wednesday, was subscribed 1.6 times, with the company receiving bids for 14.36 million shares, against 8.95 million shares on offer. Ahead of the offer, the company raised INR 1.20 billion from
anchor investors by issuing 3.75 million shares at INR 320 per share.
GSP Crop Science is an agrochemical company specialising in insecticides, herbicides, fungicides, and plant growth regulators. For the six months ended September, on a consolidated basis, it had posted a net profit of INR 827.83 million on a consolidated revenue of INR 8.44 billion. (Ashvita Chalke)
Equity Alert: Asian Paints up as crude oil slides, co announces price hikes
MUMBAI--1009 IST--Shares of Asian Paints opened almost 3% higher from Monday as investors anticipate de-escalation of hostilities in West Asia, and Brent Crude futures slipped to $103 per barrel. Though crude oil prices are still relatively elevated, the decline is likely to support sentiment.
Asian Paints said it will hike prices of its products by 6-8%, more than the earlier anticipated range of 2-5%. The sharp rise in crude oil prices due to West Asia tensions led to the higher-than-expected price hike. The company may implement the hike in two phases, depending on the trajectory of crude prices going forward. However, a near-term adverse impact on the company's margins is still expected, broking firm ICICI Securities said in a report.
While competitors Berger Paints and Kansai Nerolac undertook price hikes of 2-3% from April, they may now follow suit and implement steeper hikes, ICICI Securities said. The near-term impact on Asian Pains' margins is factored in by investors with the recent correction in the stock price.
At 1006 IST, shares of Asian Paints traded almost 2.2% higher at INR 2,168.20 on the NSE. Over 380,000 shares of the company changed hands on the bourse, higher than nearly 234,000 shares traded till the same time Monday. (Ruchira Kagita)
Equity Alert: Indices open higher after Trump defers attacks on Iran
MUMBAI--0950 IST--Benchmark indices opened higher after US President Donald Trump said that the US would postpone attacks on Iran's power plants and energy infrastructure for five days following dialogue with Tehran. Post this, crude oil prices fell sharply but came off lows after Iran denied any talks with Washington. Automobile and public sector banks were the major gainers in the indices.
At 0945 IST, the Nifty 50 was at 22730.45 points, up 217.80 points or 1%, and the BSE Sensex was at 73383.63 points, up 687.24 points or 1%.
Shriram Finance and Eicher Motors were the top gainers in the Nifty 50 index, up over 3?ch. Shares of Asian Paints rose over 2?ter several media reports said the company was planning to raise prices of its products by 6-8%. Automobile companies Bajaj Auto, Mahindra & Mahindra, Maruti Suzuki India, and Tata Motors Passenger Vehicles rose 1-3%.
InterGlobe Aviation, Titan Co., Eternal, Trent, Adani Enterprises, UltraTech Cement, Apollo Hospitals Enterprises, and Larsen & Toubro rose 2-3%. In contrast, state-owned energy companies Coal India and Power Grid Corp. of India were the worst hit in the index, down around 2?ch.
Trump, post market hours Monday, said that after a "very good and productive" conversation with Tehran regarding a "complete and total" resolution of hostilities in West Asia, the US had decided not to target energy infrastructures and power plants in Iran. After this, crude oil prices fell over 14%. In early trade Tuesday, crude oil prices rose more than $4 per barrel after Iran denied Trump's claim of talks. The May futures of Brent Crude were over the psychological level of $100 per barrel.
All the broader market indices rose around 2?ch. Sectoral indices were higher as well, with the Nifty PSU Bank being the best performer. The Nifty PSU Bank rose over 2%. All the constituents of the index traded higher. Shares of Union Bank of India, Indian Bank, Canara Bank, and Punjab & Sind Bank rose 2-3%.
Tube Investments of India was the top gainer among Nifty 200 constituents. The stock rose over 5%. In contrast, Coal India and Power Grid Corp. of India were the worst hit.
In the Nifty 500, JBM Auto was the top gainer, up over 10%. Shares of Kalpataru Projects International rose nearly 6?ter the company said it had received orders worth INR 44.39 billion in its power transmission and distribution business. Olectra Greentech rose over 8%. On the other hand, Chennai Petroleum Corp. and Mangalore Refinery and Petrochemicals were the worst hit, down over 4?ch. (Adhithya Aji)
Equity Alert: Asian indices rise as Trump's comments help ease oil prices
MUMBAI--0825 IST--Most Asian indices rose in early trade on Tuesday after US President Donald Trump delayed plans to strike Iran's power and energy facilities for five days after productive discussions with Tehran. While Brent oil prices eased after Trump's comments, they shot back to around $100 per barrel after Iran refuted the US president's claims of any discussions to end the war.
May futures of Brent crude oil fell nearly 11% to close at $99.94 per barrel on Monday, propelling a rally in the three major US indices which ended over 1% higher each. At 0751 IST, crude oil prices were up at nearly $104 per barrel. Asian equities have been hit hard by the surge in global crude oil prices since the beginning of hostilities in West Asia.
South Korea's Kospi trimmed gains and it was up 1?ter surging 3% in early trade. Japan's Nikkei 225 rose 2% in early trade, partially recovering from the 3.5?ll on Monday. However, it also pared its gains and was up 0.8%. The broad-market Topix continued to remain over 1.5% higher after stabilising food prices and fuel subsidies eased the headline inflation rate in February for the fourth consecutive month, CNBC reported. The consumer price index fell to 1.3% in February from 1.5% in January, the lowest level since March 2022 and below the Bank of Japan's target of 2%, CNBC reported citing data from Statistics Bureau.
Following were the levels of major Asian indices at 0811 IST:
|
Index |
Level |
Change in % |
|
CSI 300 Index |
4419.05 | 0.02 |
|
Hang Seng Index |
24664.17 | 1.16 |
|
Nikkei 225 Day |
51910.42 | 0.77 |
|
TOPIX FIRST SECTION |
3543.29 | 1.63 |
|
KOSPI |
5452.62 | 0.87 |
|
FTSE Singapore Strait Times |
4848.27 | 0.14 |
|
S&P/ASX 200 Index |
8397.80 | 0.38 |
(Shruti Nair)
Equity Alert: Indices may open higher after Trump defers attacks on Iran
MUMBAI--0815 IST--Benchmark equity indices are expected to open higher, tracking gains in their Asian peers after US President Donald Trump, after market hours Monday, said military strikes on Iran's power plants and energy infrastructure had been put off for five days following discussions with Iranian officials. However, Iran denied any talks with the US, saying there has been no dialogue between them.
Following Trump's comments, the May futures contract of Brent Crude plunged over 14% to an intraday low of $96 a barrel Monday, but came slightly off the low and closed the session at $99.94 per barrel. In early trade Tuesday, crude prices rose more than $4 a barrel as markets assessed the supply outlook after Iran denied holding talks with US, Reuters reported. At 0806 IST, the May Futures contract of Brent Crude oil traded at $103.68 per barrel.
Overnight, US stocks rallied after Trump's comments. The Dow Jones Industrial Average and S&P 500 closed 1.4% higher and the technology heavy-Nasdaq Composite settled 1.2% higher Monday. Before Trump's comments, US stock futures pointed to more losses for equity markets. However, after his comments, futures tied to Dow Jones Industrial Average briefly surged more than 1,000 points. Most major equity markets in Asia were also up in early trade, with Japan's Topix First Section leading the gains. In contract, China's CSI 300 index and Singapore's FTSE Singapore Strait Times traded slightly lower at 0744 IST.
Late Monday, Trump told reporters that both Iran and the US want to "make a deal" and that the parties would likely meet by phone on Monday, according to a CNBC report. Meanwhile, Israel and Iran continued to launch strikes overnight, according to media reports. Israeli warplanes bombed Beirut's southern neighbourhood in Lebanon, while Iran fired more missiles at Israel overnight.
"We acknowledge that this is not a done deal yet, with the re-opening of the Strait of Hormuz the critical milestone in the process. However, the probability of peace is significantly elevated and we think markets will aggressively price that in," Brokerage Emakay Global said in a strategy report Tuesday. "The Nifty (50) fell 5% in the last three trading sessions, primarily owing to sustained FPI (foreign portfolio investor) selling. We expect this trend to reverse, and India could emerge as one of the better investment opportunities in the region," Emakay said. The optimism is also expected to spill over to other asset classes, with the domestic currency expected to bounce back to pre-war levels while the 10-year bond yield should drop to around 6.65% from 6.83% currently, the brokerage said.
Futures contracts of the Gift Nifty indicate a gap-up open for the Nifty 50 on Tuesday. At 0807 IST, the March contract of the Gift Nifty traded at 22917.50 points, over 400 points higher than the Nifty 50's previous close. "Nifty (50) index is approaching towards crucial support zone placed at 22000-21750 spot levels; the price supports of 21750 also coincide with its 4 years exponential moving average," Vipin Kumaar, senior technical and derivatives analyst at Globe Capital Market, said. On short-term charts, the Nifty 50 index is trading in the oversold territory and, hence, the possibility of some bounceback cannot be ruled out at this juncture, which might lead it towards 22800-23000 spot levels, he said. (Arya S. Biju)
Equity Alert: US indices rally as Trump postpones strike on Iran power plants
MUMBAI--0725 IST--Major stock indices in the US rallied on Monday after comments by US President Trump on postponing strikes on Iranian power plants, citing constructive talks with the country, sent crude oil prices down. On Monday, the May futures of Brent crude closed at $99.94 per barrel, nearly 11% lower than the previous close.
"The volatility is likely to continue and it's all about the price of oil. Nothing else really matters to people in the short term. So when oil prices are down, stocks go up and vice versa," Bob Doll, chief investment officer at Crossmark Global Investments, told Reuters. "What's up the most today is not a surprise. It's things with economic sensitivity."
All three major indices were up over 1% on Monday, registering their highest single-digit percentage gains in a day since Feb. 6, according to Reuters. All 11 major industry sectors in the S&P 500 rose, Reuters reported. The consumer discretionary sector ended 2.5% higher and other cyclical sectors saw notable gains too. Defensive sectors fared poorly in comparison, with healthcare ending nearly flat and consumer staples ending nearly 0.4% higher. Stocks of airline companies also rallied on the back of the dip in oil prices, with shares of Alaska Air and United Airlines both ending over 4% higher.
Further, investors trimmed their expectations of a hike in interest rates by the US Federal Reserve to around 13% for December from above 23% in the previous session, according to the CME Group's FedWatch.
Following are the closing levels of US indices Monday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6581 | 1.15 |
|
NASDAQ Composite |
21946.76 | 1.38 |
|
Dow Jones Industrial Average |
46208.47 | 1.38 |
(Shruti Nair)
US$1 = INR 93.89
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta
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