Equity Alert
Berger Paints hits 3-mth high on strong Q4, brokerages bullish
This story was originally published at 11:12 IST on 13 May 2026
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Equity Alert: Berger Paints hits 3-mth high on strong Q4, brokerages bullish
MUMBAI--1050 IST--Shares of Berger Paints India opened sharply higher after the company reported an increase in its profit for the first time in 2025-26 (Apr-Mar) for Jan-Mar. The stock hit INR 533.35, its highest level in three months, soon after the trading opened, and over four million shares of the company changed hands on the bourse. Brokerages remain bullish on the company's growth trajectory.
Double-digit price hikes, continued growth in volumes, stable competition, and improvement in subsidiaries are expected to bring back double-digit sales growth in FY27, brokerage Nomura said in its report. The company had some stock build-up before it announced price hikes of 3-4% and volume growth was also already improving, the brokerage noted. The brokerage raised its earnings per share estimates for the company for FY27 and FY28 by 4% on account of price hike plans. The company's cumulative price hikes of 11-12% started in March are "expected to neutralise the cost inflation of 22% along with formulation and sourcing efficiency which will help protect the GPM (gross profit margin) amidst rising raw material prices," Nomura said. The firm maintains its "buy" call and revised its target price higher to INR 650 from INR 625.
Berger Paints management had said competitive intensity from Birla Opus was coming down as it undertook greater price hikes than it peers, thus reducing the pricing gap by 3-4%. The top executives said they expect earnings before interest, taxes, depreciation, and amortisation margins to be around 15-17%, supported by operating leverage and cost optimisation. El Nino and a subdued monsoon season may provide further impetus to the company, the executives told analysts in a conference call after declaring their earnings for the quarter ended March.
Opportunity also stems for the company in West Bengal as the Bharatiya Janata Party takes the political reins in the state. Focus on increased infrastructure activity and project execution will play out positively for Berger Paints, brokerages noted.
Berger Paints' value growth in FY27 is expected to exceed volume growth as the volume-value gap reverses, Nuvama Wealth Management highlighted the management as saying. The brokerage raised its estimates for the company's earnings per share by 2% for FY27 and by 3% for FY28. Nuvama maintained "buy" stance on the stock while hiking its target price to INR 635 from INR 605.
The paints maker is in a "sweet spot of decorative growth", driven by rural markets and in tier-III and tier-IV markets performing well and double-digit distribution expansion, according to Systematix. Urban markets are also seen supporting the company's growth. Berger Paints' price hikes are seen reversing in late FY27 or in FY28. Sales from the decorative segment could thus be flat in FY28, but margin recovery is likely, Systematix said in a report. The brokerage has a "buy" call on the stock with a target price of INR 570.
Berger Paints reported a consolidated net profit of INR 3.35 billion, up nearly 28% on year and its top line rose a little over 6% on year to INR 28.68 billion. At 1049 IST, shares of the paint manufacturer traded nearly 6% higher at INR 516.40. (Ruchira Kagita)
Equity Alert: Cipla turns green after opening lower ahead of Q4 results
MUMBAI--1030 IST--Shares of Cipla opened slightly lower Wednesday ahead of its Jan-Mar earnings, due later in the day. Later, shares of the company rose nearly 3% to the day's high of INR 1,315.60. The stock rose after it closed lower for the previous four straight sessions, and shed over 5% during that period. Volumes of the shares traded also rose nearly three times from those traded in the previous session.
Cipla is expected to make a sharp decline in its bottom line for the March quarter, driven majorly by the weak sales in the US and increased competition for the generic cancer drug Revlimid. The pharma company's consolidated net profit is expected to be INR 7.27 billion, down nearly 41% on year. Its top line for the quarter is seen at INR 66.82 billion, which would be marginally down on year. The company's US business is also likely to see a sharp decline, with revenue from the region estimated to fall 20–30% on a year-on-year basis.
At 1021 IST, shares of Cipla traded nearly 3% higher at INR 1,327.80 on the NSE. So far in the day, over 616,000 shares have changed hands on the exchange, higher than over 210,000 shares traded till the same time Tuesday.
Of the 12 brokerage recommendations available with Informist on the company, eight have a 'buy' recommendation with an average target price of INR 1,572. Of the remaining four, three have a 'sell' recommendation and one has a 'hold' recommendation on the stock. (Arundathi A R)
Equity Alert: Jewellery cos fall as govt raises customs duty on gold, silver
MUMBAI--1020 IST--Shares of jewellery companies declined Wednesday after the government hiked the customs duties on gold and silver imports. This comes close on the heels of Prime Minister Narendra Modi Sunday urging people not to buy gold for a year. The hike in duties is likely to lead to high gold prices, which would discourage people from buying gold.
The government Tuesday hiked duty on gold and silver to 15% from 6%. In notifications issued late Tuesday night, the government raised the customs duties on gold and silver imports to 10% and the Agriculture Infrastructure and Development Cess to 5%. The government wants to reduce the imports of gold to stabilise the currency, ICICI Securities said. "We believe this is a temporary measure till the time global uncertainties persist," the brokerage said. The brokerage is of the view that the cautious need for base purchases for weddings and important occasions will continue. "It will be short term negative for jewellery companies," ICICI Securities added.
Shares of Kalyan Jewellers, Rajesh Exports, Sky Gold and Diamonds, and Thangamayil Jewellery fell 5-7%. Kalyan Jewellers fell nearly 6% to a more than one year low of INR 340.50. The stock was deleted from the MSCI's global standard index on Tuesday. This also weighed on the sentiment for the stock. (Adhithya Aji)
Equity Alert: Tube Investments flat ahead of Jan-Mar earnings
MUMBAI--1004 IST--Shares of Tube Investments of India were flat at INR 2,953.70 ahead of the company's March quarter earnings. The stock fell 0.4% to its intraday low and then rose 1.4% in early trade Wednesday. At 0956 IST, shares of the company were at INR 2,964.20 on the NSE, up 0.4%.
Motilal Oswal Financial Services Ltd. estimates the company's net profit for the March quarter at INR 3.08 billion, down nearly 63% on year but up 51% from the previous quarter. Batlivala & Karani Securities India Pvt. Ltd. projects the company's bottom line at INR 3.11 billion, down over 62% on year and up nearly 53% from the December quarter.
Motilal Oswal expects the company's revenue at INR 22.06 billion, up nearly 13% on year and up over 2% from the previous quarter. B&K Securities estimates Tube Investment's top line at INR 21.74 billion, rising 11% on year and up 1% from the December quarter.
The metal-formed division is expected to grow 3% on year, while the mobility and engineering divisions are expected to grow 15% on year and 18% on year, respectively, Motilal Oswal said. Revenue from other businesses is likely to decline 7% on year, the brokerage said. The brokerage expects the company's earnings before interest, tax, depreciation, and amortisation at INR 2.88 billion. "We expect EBITDA margin to improve 150 basis points YoY to 13.1% over a low base," it said.
According to B&K Securities, the company's EBITDA margins are expected to rise to 14.2% from 11.6% in the year-ago quarter. The rise is likely due to the company's strong performance across the engineering and metal-formed products segments and operating leverage benefits, it said.
Only one brokerage report is available on the company with Informist. Motilal Oswal has a 'buy' rating on the stock with a target price of INR 3,315. For the December quarter, Tube Investments reported a net profit of INR 1.89 billion and revenue of INR 21.52 billion. Shares of the company are up 12% from Feb. 4, when it detailed its December quarter earnings. (Shreya Shetty)
Equity Alert: Indices open a tad down amid US-Iran war, high crude oil prices
MUMBAI--0945 IST--Benchmark indices opened a tad lower amid the US-Iran war and elevated crude oil prices. The uncertainty around the peace deal between the US and Iran dampened investors' sentiment. Metal stocks were the major gainers in the indices.
At 0942 IST, the Nifty 50 was at 23280, down 99.55 points or 0.4%, and the BSE Sensex was at 74199.32, down 359.92 points or 0.5%. Asian Paints was the top gainer among the Nifty 50 constituents, up over 3%. Metal companies Tata Steel, Hindalco Industries, Grasim Industries, and JSW Steel gained around 1?ch. Adani Ports and Special Economic Zone rose over 1%.
Eicher Motors was the worst hit in the Nifty 50, down nearly 3%. State-owned energy companies – Power Grid Corp. of India and NTPC declined nearly 2% and 1% respectively. Financial services stocks Shriram Finance, Bajaj Finance, State Bank of India, and SBI Life Insurance Co. were down around 1?ch. Heavyweight ICICI Bank was down over 1% in the index.
Barring Nifty Metal, all the other sectoral indices were in the red. Nifty Metal was up nearly 1%. Meanwhile, Nifty Media was the worst hit among the sectoral indices, down over 1%.
In the Nifty 200, metal stocks--Hindustan Zinc and Steel Authority of India--were the top gainers. They rose nearly 5?ch. Billionbrains Garage Ventures rose nearly 4%. On the other hand, Kalyan Jewellers fell nearly 5% and was the worst hit in the Nifty 200. The government of India has increased the customs duties on gold to 15% from 6%. This move comes after Prime Minister Narendra Modi urged people to stop buying gold for a year.
Tata Power Co. fell over 4%. The company's Jan-Mar consolidated net profit fell nearly 5% on year to INR 9.96 billion. The revenue of the company fell nearly 13% on year to INR 149 billion. The closure of the Mundra plant in Gujarat dragged the bottom line of the company for the reporting quarter.
Berger Paints rose over 7% and was the top gainer in the Nifty 500. The company's consolidated net profit for the quarter rose nearly 28% and was above the Street's view. Cohance Lifesciences was the worst hit stock in the Nifty 500, down over 6%. (Adhithya Aji)
Equity Alert: Indices to move in range; US-Iran war, crude oil prices weigh
MUMBAI--0835 IST--The domestic equity indices are likely to move in a range Wednesday. Fading hopes of a resolution to the US-Iran war and rising crude oil prices are dampening the market sentiment. The March quarter earnings of the Nifty 50 constituents Cipla and Bharti Airtel will be in focus as also Dr. Reddy's Laboratories shares. The pharmaceutical major detailed its results post market hours Tuesday. In the global markets, most of the Asian indices were in the red in early trade. Barring the Dow Jones Industrial Average, other US indices settled lower Tuesday.
The market's focus will be on US President Donald Trump's meeting with China's President Xi Jinping in Beijing. "Trump said he would have a "long talk" about Iran with the Chinese leader but that trade would be the main focus," Al Jazeera reported. Trump spoke to reporters at the White House before leaving for China, and said, "We have Iran very much under control," The New York Times reported. "But he also reiterated that "we're either going to make a deal or they're going to be decimated," the report said.
Though the Brent crude oil July futures contract was nearly 1% down from the previous close, has it stayed above $100 a barrel level for the last few sessions. At 0832 IST, the Brent crude prices were 0.8% lower at $106.8 per barrel.
The government meanwhile raised customs duty on gold and silver to 15% from 6%, while also raising basic customs duty on them to 10% from 5%. The agriculture cess on gold and silver has been increased to 5% from 1%.
Global index provider MSCI has added Adani Energy, Federal Bank, Indian Bank, Multi Commodity Exchange of India, and National Aluminium Co. to the MSCI global standard indices and deleted four other companies. Changes to the MSCI global standard indices will be effective from the close of May 29. It removed Hyundai Motor India, Jubilant Foodworks, Kalyan Jewellers, and Rail Vikas Nigam from the global standard indices. MSCI has also added 14 companies to its global small-cap index while excluding 29.
At 0831 IST, the Gift Nifty May futures contract was marginally higher at 23425.50 from its previous close. This was nearly 46 points higher from the Nifty 50's previous close of 23379.55. "Indian markets are likely to open on a cautious note amid persistent geopolitical tensions, elevated crude oil prices, and continued weakness in the rupee," Ruchit Jain, head of technical research at Motilal Oswal Financial Services, said. He expects the Nifty 50 to find support around 23400–23300 levels, while resistance is seen at the 23800–24000 levels.
The Nifty 50 stock Cipla is likely to report a sharp decline in its bottom line for Jan-Mar, mainly due to weak sales in the US and increased competition for the generic cancer drug Revlimid. The pharma company's consolidated net profit is expected to be INR 7.27 billion, down nearly 41% on year. Bharti Airtel is expected to post a net profit of INR 74.29 billion in the March quarter, up nearly 42% from a year ago, excluding exceptional items. Dr. Reddy's Laboratories Tuesday reported a consolidated net profit of INR 2.21 billion for the March quarter, down 86% on year. This was sharply lower than the analysts' estimate of INR 8.95 billion. Its consolidated revenue was INR 75.46 billion, down 11.5% on year, below the Street's view of INR 82.69 billion. (Arundathi A R)
Equity Alert: Indices in Asia mixed; mkt cautious ahead of Trump-Xi meeting
MUMBAI--0815 IST--Indices in Asia were mixed Wednesday as West Asia woes continued to loom over market sentiment with the stalemate between the US and Iran on finalising the contours of a peace deal continuing. Brent crude oil futures remained higher – above $107 per barrel. Investors are also cautious ahead of the meeting between US President Donald Trump and Chinese President Xi Jinping scheduled Thursday and Friday in China.
Indices in South Korea, Japan, and Singapore were in the green while those in China, Hong Kong, Australia, and Taiwan fell during the early hours of trade. South Korea's benchmark KOSPI was supported by shares of heavyweight SK Hynix that gained over 3%.
On the macroeconomic front, South Korea's unemployment rate remained unchanged on year at 2.9% in April, and it trudged downward from 3% in March. The country added 74,000 jobs in the previous month, up 0.2% year-on-year while the number of unemployed citizens fell 0.2% to 853,000. The pace of job additions is the slowest in 16 months, The Korea Herald reported.
The following were the levels of major Asian indices at 0815 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4946.8607 | (-)0.02 |
| Hang Seng Index | 26254.92 | (-)0.35 |
| Nikkei 225 Day | 62882.31 | 0.22 |
| TOPIX FIRST SECTION | 3911.77 | 1.00 |
| KOSPI | 7734.27 | 1.19 |
| FTSE Singapore Strait Times | 4978.01 | 0.65 |
| S&P/ASX 200 Index | 8646.40 | (-)0.28 |
(Ruchira Kagita)
Equity Alert: Wall Street ends mixed; hotter-than-expected CPI print weighs
MUMBAI--0740 IST--The technology-driven rally on Wall Street snapped after a hotter-than-anticipated inflation report dampened sentiment. Consumer inflation rose to its highest level since May 2023, driven by elevated energy prices. Retail inflation rose 3.8% year-on-year, with the energy index rising 17.9% and the gasoline index up 28.4%. All major indices except the Dow Jones Industrial Average closed in the red.
On a monthly basis, inflation rose 0.6% in April after rsing 0.9% in March. Core inflation, which excludes volatile food and energy costs, went 2.8% year-on-year and 0.4% month-on-month. Inflation remains well above the Federal Reserve's 2% target. Further, inflation outpaced growth in paychecks. Hourly wages rose a seasonally adjusted 3.6% year-on-year through April, The Wall Street Journal reported. The benchmark 10-year treasury ticked up after the higher-than-expected inflation print.
"This is hurting Americans. There is a real financial squeeze underway. For the first time in three years, inflation is eating up all wage gains. This is a setback for middle-class and lower-income households and they know it," Heather Long, chief economist at Navy Federal Credit Union, told CNBC.
Among the magnificent seven stocks, four fell on Tuesday. Chipmakers also declined, with shares of Intel Corp., Micron Technology, and Advanced Micro Devices falling 3–7%. Qualcomm shares tumbled over 11%.
The following were the closing levels of major US indices on Tuesday:
|
US Indices |
Levels |
Change in % |
|
Dow Jones Industrial Average |
49760.56 | 0.11 |
|
NASDAQ Composite |
26088.203 | (-)0.71 |
|
S&P 500 |
7400.96 | (-)0.16 |
(Ruchira Kagita)
US$1 = INR 95.60
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Vandana Hingorani
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