Equity Alert
OnEMI Tech lists at 11% premium to IPO price on NSE; gains more
This story was originally published at 12:51 IST on 8 May 2026
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Equity Alert: OnEMI Tech lists at 11% premium to IPO price on NSE; gains more
MUMBAI--1220 IST--Shares of OnEMI Technology Solutions listed at a premium of over 11% at INR 190 on the NSE Friday. At 1213 IST, the stock was up over 21% at INR 207.52 on the bourse and nearly 46 million shares had changed hands so far in the session.
The initial public offer of the company closed on Tuesday, and it was subscribed 9.5 times. Around 377.67 million bids were placed against the 39.76 million shares on offer. Prior to the bidding, the company raised INR 2.78 billion from anchor investors.
The company operates digital lending platform Kissht, which primarily offers digital loans through its mobile application for various consumption and business needs. For the nine months ended Dec. 31, the company reported a consolidated net profit of INR 1.99 billion on revenue of INR 15.60 billion. For 2024-25 (Apr-Mar), it reported a consolidated net profit of INR 1.61 billion on revenue of INR 13.37 billion. (Eshitva Prakash)
Equity Alert: Tata Consumer up ahead of Q4 results; SBI, Titan Co flat
MUMBAI--1145 IST--Shares of Tata Consumer Products gained over 1% while those of State Bank of India and Titan Co. were flat ahead of their March quarter results, due later in the day. The bottom line for Tata Consumer Products and Titan Co. is expected to rise in double digits on year, while that of State Bank of India is seen growing 4%.
State Bank of India's net profit is likely to be aided by stable margins, healthy credit growth, and benign asset quality, although treasury-related pressures may weigh on the bottom line, according to brokerages. The bank is expected to report a net profit of INR 193.98 billion, up over 4% on year. Net interest income for the quarter is expected at INR 466.46 billion, up 9% on year.
Volume growth across the domestic foods portfolio and price-led growth overseas are likely to drive the earnings momentum for Tata Consumer Products. The net profit of the company is expected to rise 37% on year to INR 4.10 billion. The top line of the fast-moving consumer goods major is estimated to grow 14% on year to INR 53 billion.
Titan Co. is expected to report a consolidated net profit of INR 13 billion, up over 50% on year. The sales of the company are also seen growing over 50% to INR 202 billion. Healthy growth in domestic jewellery sales along with robust sales of watches, eyewear, and other products is expected to help Titan Co.'s earnings growth, according to analysts.
At 1130 IST, shares of Tata Consumer Products were trading over 1% higher at INR 1,168.20, while those of State Bank of India and Titan Co were flat at INR 1,088.60 and INR 4.306.70, respectively. (Adhithya Aji)
Equity Alert: Kalyan Jewellers shares choppy ahead of Jan-Mar results
MUMBAI--1140 IST--Shares of Kalyan Jewellers swung between gains and losses ahead of its March quarter earnings announcement, due later in the day. At 1127 IST, shares of the company traded at INR 410.35, down 0.2% from the previous close.
JM Financial Services expects the company to post a consolidated net profit of INR 3.95 billion for the reporting quarter, implying a year-on-year growth of 110%. Motilal Oswal Financial Services estimated the figure at INR 3.53 billion, which would mean an 88% rise year-on-year.
The company saw a consolidated revenue growth of nearly 64% year-on-year in the March quarter, as per a quarterly update released last month. Its revenue from India operations rose over 65% on year in Jan-Mar, led by a strong same-store sales growth across most key markets, the company had said. Sales in international markets rose about 45% on year during the quarter, including around 39% growth in West Asia.
In the year-ago quarter, the company had registered a consolidated net profit of INR 1.88 billion on revenue of INR 61.82 billion. In Jan-Mar, the Kerala-based jeweller net added 24 Kalyan showrooms in India and 14 Candere showrooms, as per the update. "Ongoing geopolitical situation in West Asia has caused supply-side disruptions for building materials impacting some of the showroom launches planned during the month of March," it said.
For 2025-26 (Apr-Mar), brokerage Motilal Oswal expects the company to post a consolidated net profit of INR 13.35 billion, up 87% on year. As per the provisional figures disclosed by the company, its consolidated revenue grew 42% year-on-year in the 12 months ended Mar. 31.
For FY25, the company had reported a consolidated net profit of INR 7.15 billion on revenue of INR 250.45 billion. All the three research recommendations on Kalyan Jewellers available with Informist have a buy rating on the stock with an average target price of INR 550-INR 750. This is 34-83% higher than the current market price.
The stock is down over 6% since the company reported its results for the December quarter. It is down 34% from its 52-week high of INR 617.7. (Shakshi Jain)
Equity Alert: Indices stay down; banking stocks fall, FMCG, IT cos gain
MUMBAI--1053 IST--Headline indices remained lower during early trade. The majority of the Nifty 50 constituents were in the red, with shares of banks as the main laggards. Shares of information technology and FMCG companies were among the few gainers. All broader-market indices outperformed their headline peers with modest gains of 0.1-0.4%.
At 1057 IST, the Nifty 50 was at 24203.70, down 0.5%, and the BSE Sensex was at 77411.38, down 0.6%. Shares of Adani Ports and Special Economic Zone were the top gainers in the Nifty 50, gaining 2.5%. On other hand, shares of HDFC Bank shed nearly 2% and were the worst-hit stock. Two of the three constituents set to release their March quarter results Friday traded lower. Shares of Titan Co. gave up its marginal gains during the open and fell 0.4%, while State Bank of India shed 0.4%. However, Tata Consumer Products was among the top performers in the index, gaining 1.6% ahead of its earnings.
Shares of ICICI Bank, Kotak Mahindra Bank, and Axis Bank were down 1-2%. Their losses were mirrored in the Nifty Bank and Nifty Private Bank indices, which shed around 1?ch and were among the worst-performing sectoral indices.
Conversely, shares of IT players Infosys, HCL Technologies, and Tech Mahindra were among the main gainers, rising around 1?ch. Their gains reflected those in the Nifty IT index, which also rose nearly 1% and was the top-performing sectoral index. Shares of Coforge was the top gainer in the Nifty IT and Nifty 200 indices. The stock was up 5% and hit its one-month high in the session.
In the Nifty 200, shares of Biocon rose nearly 3%. The company reported a consolidated net profit of INR 1.26 billion for the March quarter on revenues of INR 45.17 billion. The bottom line fell 64% on year due to exceptional costs. Shares of Britannia Industries was the worst-hit stock in the index, having shed over 4%. In the Nifty 500, shares of Craftsman Automation rose 11% and hit their record high at INR 9,738 per share after the company reported an over 74% on-year jump in consolidated net profit for the March quarter to INR 1.16 billion. Conversely, shares of CCL Products India were the worst-hit stock in the index, shedding nearly 7%. (Shruti Nair)
Equity Alert: Niva Bupa Health rises over 2% ahead of Jan-Mar earnings
MUMBAI--1030 IST--Shares of Niva Bupa Health Insurance Co. rose over 2% to an intraday high of INR 81.75, ahead of the company's March quarter earnings due later in the day. At 1020 IST, the stock traded over 1% higer at INR 80.89. About 902,394 shares of the company changed hands on the NSE so far, higher than the 126,906 shares till the same time Thursday.
For the quarter under review, JM Financial expects the health insurer's net profit to jump 52.5% on year to INR 3.14 billion, while Motilal Oswal expects it to be at INR 1.23 billion, a decline of nearly 68% on year. As for the net premium income, JM Financial expects it to rise by nearly 33% on year to INR 20.25 billion. Motilal Oswal expects the metric to rise 21% to INR 19.47 billion. For the year-ago quarter, the company had reported a net profit of INR 2.06 billion and income from premium of INR 15.27 billion.
The underwriting results, a crucial indicator of an insurer's financial performance, is expected to more than double to INR 1.41 billion, as per JM Financial's estimate. However, Motilal Oswal expects a loss of INR 407 million. Underwriting results show whether an insurance company has made a profit or loss against the premium it collects to the claims paid, alongside operational expenses.
Motilal Oswal expects the insurer's premiums to clock strong "double-digit" growth, led by uptick in the health segment followed by cut in goods and services tax for individual and health insurance premiums.
Of the four research reports on the company available with Informist, all have a 'buy' rating on the stock at an average target price of INR 90, indicating an 10% upside from the current stock price. (Meera Nair)
Equity Alert: Coal India falls 2%; CLSA downgrades stock to 'underperform'
MUMBAI--1010 IST--Shares of Coal India fell over 2% to an intraday low of INR 456.30. The stock was down for the fifth consecutive session and has shed nearly 5% during this period. The global brokerage CLSA has downgraded Coal India's stock to 'underperform' from 'hold', and cut the target price over 1% to INR 385.
Coal India has rallied significantly recently along with other energy-linked stocks due to the energy security theme, CLSA said. The brokerage is of the view that the company is unlikely to be a beneficiary of this energy theme, CNBC TV-18 reported citing CLSA. The brokerage expects risks to the state-owned energy company's medium-term growth prospects given the high demand for renewable power and a rise in captive coal production.
CLSA said that commercial consumers such as Vedanta, Jindal Steel and Hindalco Industries are opting for captive coal security. This is likely to be an overhang for both fuel supply agreement realisations and electronic auction demand, CLSA said. On Thursday, shares of the company had declined after media reports surfaced that the government was likely to sell 3-4% stake in the company for INR 100 billion.
At 1006 IST, shares of Coal India traded nearly 2% lower at INR 458.50. Nearly 5 million shares of the company changed hands on NSE, which is higher than nearly 2 million shares traded till the same time Thursday. (Adhithya Aji)
Equity Alert: Indices open lower as US-Iran war escalates, crude prices rise
MUMBAI--0948 IST--Benchmark indices opened lower tracking the fresh escalation of the US-Iran war where fires were exchanged between the two nations in the Strait of Hormuz. The Brent Crude oil rose around 3% to a high of $102.92 per barrel. Banking stocks were the major laggards in the indices.
At 0942 IST, the Nifty 50 was at 24173.90 points, down 152.75 points or 0.6%, and the BSE Sensex was at 77360.68 points, down 483.84 points or 0.6%.
Apollo Hospitals Enterprise and Adani Ports and Special Economic Zone were the top gainers among the Nifty 50 constituents. They were up around 2?ch. Tata Consumer Products, Asian Paints, Adani Enterprises, and Tech Mahindra were up nearly 1?ch. On other hand, Coal India and Eternal were the underperformers in the 50-stock-index. They fell around 2?ch.
Heavyweight banking stock HDFC Bank fell over 1%. Its peers Axis Bank, Shriram Finance, Bajaj Finance, HDFC Life Insurance Co., and Jio Financial Services, fell around 1?ch. Eternal, UltraTech Cement, Hindalco Industries, and Reliance Industries were down around 1?ch.
Shares of Pidilite rose over 3% and was the top gainer in the Nifty 200. The company's consolidated net profit grew over 37% on year to INR 5.79 billion for the March quarter. This was above the Street's estimate of INR 5.26 billion. In contrast, Britannia Industries was the major laggard in the index, down nearly 5%. The stock fell despite the company posting a 21% on-year growth in its consolidated net profit to INR 6.78 billion.
In the Nifty 500, Sonata Software rose over 7% to be the top gainer, while Aditya Birla Lifestyle Brands fell nearly 5% to be the worst hit stock. (Adhithya Aji)
Equity Alert: Nuvama bullish on Arvind Ltd post Dalco-GFT acquisition
MUMBAI—0905 IST--Arvind Ltd's acquisition of a 61% stake in Dalco-GFT, a US-based manufacturer of specialised needle-punched non-woven fabrics, is expected to provide a core business extension and enable the company to expand its presence in the US, Nuvama Institutional Equities said. Factoring in the acquisition, the brokerage has raised the target price on the stock 29% to INR 534 and maintained a 'buy' recommendation.
The company's wholly-owned subsidiary, Arvind Advanced Materials Ltd., acquired 61% controlling stake in Dalco-GFT at an enterprise value of $136 million. The acquisition gives Arvind Advanced Materials its first overseas manufacturing footprint and access to $2.5 billion US total addressable market, Nuvama said. "Needle-punched non-woven is an adjacency to AAML's existing India filtration business, supporting a low-touch integration," the brokerage added.
Dalco brings 85% sole-source automotive positions on five to six-year programme contracts, all six major US tier-one as customers and end-market diversification across mobility, geo-textiles, industrial and flooring, Nuvama said. The brokerage has raised the company's revenue estimate for 2026–27 (Apr-Mar) by 10.6% and for FY28 by 11%. The earnings before interest, tax, depreciation, and amortisation estimates were raised by 18.7% for FY27 and 18.5% for FY28, according to Nuvama.
"We view this acquisition as a positive and a key enabler for Arvind to expand its presence in the US," Nuvama said. Dalco has been in operations for the past four decades and established credentials in the industry. It has been a preferred partner in the mobility segment and is increasing its presence in the geotextiles segment, the brokerage said.
Thursday, shares of the company ended nearly 15% higher at INR 447.90 on the National Stock Exchange. (Adhithya Aji)
Equity Alert: Indices seen opening slightly lower on weak global cues
MUMBAI--0834 IST--Benchmark equity indices are expected to open slightly lower Friday tracking weakness in their Asian peers and also as crude oil prices resumed its upward trend amid renewed hostilities in West Asia. Thursday, the US and Iran exchanged fire in the key Strait of Hormuz waterway, with each side claiming the other initiated the attack.
The US military said it intercepted what it called were "unprovoked" Iranian attacks--including missiles, drones and small boats--and carried out selfdefence strikes as its ships were heading out of the Gulf through the strait, according to media reports. However, US President Donald Trump late Thursday told ABC News that the Iran strikes were "just a love tap", adding that the ceasefire was still in place.
In a Truth Social post later, Trump further reiterated that Iran will face further attacks if they do not agree to a deal. "Just like we knocked them out again today, we'll knock them out a lot harder, and a lot more violently, in the future, if they don't get their Deal signed, FAST!" he wrote.
Meanwhile, Iran's military accused the US of violating the ceasefire by targeting its ships, including an oil tanker, that were moving towards the Strait of Hormuz, the BBC reported, citing the Islamic Republic of Iran Broadcasting. Iranian state media later reported that the situation "is back to normal now." The July futures contract of Brent Crude oil on the Intercontinental Exchange rose around 3% in early trade Friday to $102.9 per barrel. At 0813 IST, the contract traded over 1% higher at $101.34 per barrel.
In another development, a panel of federal judges on Thursday found Trump had violated the law when he imposed a 10% tariff on most US imports, reports said. In a split ruling, the Court of International Trade found that Trump had wrongly invoked decades old trade law when he applied those duties beginning in February. The president imposed the levies after his previous set of punishing tariffs was struck down by the Supreme Court.
The Gift Nifty suggests a slightly lower open for the domestic equity market. At 0824 IST, the May contract of Gift Nifty traded at 24270, around 57 points away from Nifty 50's Thursday close. Technically, the Nifty 50 index is still hovering in congestion range of 23800-24600 points, Vipin Kumaar, senior technical and derivatives analyst at Globe Capital Market, said. "Moving forward, we reiterate our short-term sideways view on Nifty (50) index as long as it is trading in 23800-24600 spot zone on closing basis. Hence, we suggest traders to maintain stocks-specific and levels-based trading approach for the time being," he added.
Friday, investors will focus on March quarter earnings of Nifty 50 companies such as State Bank of India, Titan Co., and Tata Consumer Products Friday. (Arya S. Biju)
Equity Alert: Asian markets fall on fresh escalation in US-Iran war
MUMBAI--0810 IST--Markets in Asia fell as tensions between the US and Iran escalated once again. The warring nations exchanged fire in the Strait of Hormuz even as media reports indicated that US President Donald Trump said the ceasefire was still in place. This has lowered the prospects of a positive outcome from peace talks. Brent Crude oil futures climbed above $101 per barrel. The S&P ASX 200, Hang Seng, and the KOSPI indices fell the most in the region.
"Iran is not a normal Country. They are led by LUNATICS, and if they had the chance to use a Nuclear Weapon, they would do it, without question — But they'll never have that opportunity and, just like we knocked them out again today, we'll knock them out a lot harder, and a lot more violently, in the future, if they don't get their Deal signed, FAST!," Trump said in a post on Truth Social.
Higher crude oil prices are weighing on Asian economies, most of which are net importers of crude and crude-linked derivatives. "...significant differences in inflation impact across economies, with some seeing more notable price spikes than others. In our view, such divergence is largely due to varying degrees of passthrough from global energy prices to domestic retail fuel," BofA Securities said in a report. Inflation in Asia accelerated to 2.2% on year in March from 1.9% in February, the report highlighted.
The following were the levels of major Asian indices at 0810 IST:
|
Index |
Level |
Change in % |
| CSI 300 Index | 4872.6133 | (-)0.57 |
| Hang Seng Index | 26328.04 | (-)1.12 |
| Nikkei 225 Day | 62206.96 | (-)1.00 |
| TOPIX FIRST SECTION | 3802.71 | (-)0.98 |
| KOSPI | 7374.94 | (-)1.54 |
| FTSE Singapore Strait Times | 4903.66 | (-)0.77 |
| S&P/ASX 200 INDEX | 8731.70 | (-)1.65 |
(Ruchira Kagita)
Equity Alert: US indices end lower as fears of US-Iran war resurface
MUMBAI--0745 IST--Indices on Wall Street ended lower Thursday after posting strong gains the day before. The earlier rally, driven by rising confidence in artificial intelligence and earnings, was overshadowed as fears of an escalation of strife between the US and Iran gripped the market. The US and Iran exchanged fresh fire in the Strait of Hormuz. Brent Crude Oil futures edged above the $100 per barrel level.
"Three World Class American Destroyers just transited, very successfully, out of the Strait of Hormuz, under fire. There was no damage done to the three Destroyers, but great damage done to the Iranian attackers," US President Donald Trump said on Truth Social. "U.S. forces intercepted unprovoked Iranian attacks and responded with self-defense strikes as U.S. Navy guided-missile destroyers transited the Strait of Hormuz to the Gulf of Oman," the US Central Command said in a statement on X.
Among the stocks in focus on the back of earnings was McDonald's Corp. The burger chain's sales beat the consensus estimates, but Chief Executive Officer Chris Kempczinski was cautious about near-term demand. Kempczinski expects some deceleration in the June quarter due to a rise in gas prices and pointed out increased anxiety among consumers, Bloomberg reported.
Earnings, however, are expected to be healthy going forward. "If you look out to Q2, Q3 and Q4 (Apr-Jun, Jul-Sept, Oct-Dec), the market and analysts are still expecting about 20% or higher earnings growth on a year-over-year basis in those subsequent quarters," Yung-Yu Ma, the chief investment strategist at PNC Asset Management, told CNBC.
In macroeconomic news, the number of Americans filing for fresh unemployment claims rose by 10,000 to a seasonally adjusted 200,000 in the week ended May 2. Reuters had expected this figure to be 205,000. Last week, the claims had declined.
The following were the closing levels of major US indices on Thursday:
|
US Indices |
Levels |
Change in % |
|
Dow Jones Industrial Average |
49596.97 | (-)0.63 |
|
NASDAQ Composite |
25806.20 | (-)0.13 |
|
S&P 500 |
7337.11 | (-)0.38 |
(Ruchira Kagita)
US$1 = INR 94.47
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.
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