Equity Alert
European mkts muted as concerns of economic distress mount
This story was originally published at 15:20 IST on 18 May 2026
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Equity Alert: European mkts muted as concerns of economic distress mount
MUMBAI--1508 IST--Stock markets in Europe opened lower as market sentiment was weighed down by the economic ramifications of a prolonged deadlock between the US and Iran on a peace deal. Investors had hoped for the meeting between US President Trump and his Chinese counterpart Xi Jinping to shed some light on when the warring nations would declare peace, but the Beijing meeting failed to provide clarity. The pan-European Stoxx 600 index was down marginally during early hours of trade.
"Short term, we remain neutral on European equities. They are still at risk compared to the US due to earning strength and energy impact," Michele Morganti, equity strategist and head of insurance at Generali Investments, told Reuters.
High crude oil prices continue to plague aviation companies globally. "Do we have plans for some kind of Armageddon situation? Of course, we do, but I don't see that coming to pass. As things stand, we're operating a full schedule this summer, and plan to operate a full schedule into the winter period," Ryanair Group's Chief Financial Officer Neil Sorahan, told CNBC. Shares of the Ireland-listed company were down 4%. Other aviation majors Deutsche Lufthansa AG and easyJet fell around 3?ch.
The G7 group of finance ministers and central bank governors arrived in Paris to discuss the distress caused to economies due to the war in West Asia and the selloff in the bond markets. "They're undergoing a correction - I wouldn't say they're collapsing," Reuters quoted French Finance Minister Roland Lescure as saying in response to being asked if the bond markets were collapsing.
Following were the levels of major European indices at 1504 IST:
| Index | Level | Change in % |
| CAC 40 | 7895.28 | (-)0.72 |
| SLI PR | 2093.81 | (-)0.38 |
| FTSE 100 Index | 10205.18 | 0.10 |
| DAX PERFORMANCE-INDEX | 23987.28 | 0.15 |
| FTSE MIB Index | 48277.10 | (-)1.71 |
(Ruchira Kagita)
Equity Alert: Power Fin Corp, REC down 4?ch; merger process advances
MUMBAI--1500 IST--Shares of Power Finance Corp. and REC fell more than 4?ch to intraday lows of INR 427.40 and INR 331.65 on the NSE, respectively. Power Finance said its board has approved placing the merger proposal of REC with PFC before the President of India for approval. The company said the merged entity will continue to retain its status as a government-owned company and following the merger the central government may infuse some capital into the merged entity, if required. Currently, the government owns 55.9% stake in PFC and 52.6% stake in REC, according to data from NSE.
Finance Minister Nirmala Sitharaman presented the merger plan between the two companies in the Union Budget on Feb. 1 as part of the government's broader push to consolidate state-owned financial institutions in power and infrastructure financing business. The transaction will be executed based on a share swap ratio that will be determined by valuers appointed for the deal. Once completed, all assets and liabilities of REC will be transferred to PFC, while REC will cease to exist under the provisions of the Companies Act.
Both PFC and REC had earlier granted in-principle approval for the merger proposal on Feb. 6. At 1441 IST, shares of Power Finance traded 3.5% lower at INR 430.05 and those of REC traded 3.6% lower at INR 333.50. Around 4 million shares of Power Finance changed hands on the NSE, twofold higher than the number of shares traded till the same time Friday. Over 5 million shares of REC changed hands, more than two times the number of shares traded at the same time Friday. (Eshitva Prakash)
Equity Alert: Indices slip into red; energy, auto cos main laggards
MUMBAI--1447 IST--Indices fell marginally after briefly recovering from their lows to turn flat earlier. Less than 20 constituents of the Nifty 50 were up. Shares of select banks and information technology companies were among the gainers. Conversely, shares of state-owned energy enterprises and automobile stocks weighed on the 50-stock index. Broader market indices continued to fare worse than their benchmark peers in the last hour of trade. The Nifty mid-cap indices were down 0.3–0.4%. The Nifty small-cap indices were down more sharply, shedding 1.5–1.8%.
At 1450 IST, the Nifty 50 was at 23584.80, down 0.3%, while the BSE Sensex was at 75115.91, down 0.2%. Shares of Tech Mahindra continued to be the top gainers in the Nifty 50 index, up over 4%. Peers HCL Technologies, Wipro, and Infosys were up 1-2%. Shares of Kotak Mahindra Bank were up nearly 1%, while index heavyweight ICICI Bank was up 0.3%. Its peer HDFC Bank gave up its earlier gains and fell marginally. Shares of JSW Steel staged a sharp recovery during the session, coming off its earlier lows to become one of the highest gainers in the Nifty 50. The stock was up 1.2%. Monday, JSW Energy sold 25 million shares in JSW Steel for INR 31.50 billion through a bulk deal on the National Stock Exchange.
Power Grid Corp. of India remained the worst-hit stock in the Nifty 50 index, trading 3.4% lower. Oil and Natural Gas Corp. and NTPC were down around 1% and 2%, respectively. Automobile majors Mahindra & Mahindra, Eicher Motors, Bajaj Auto, and Maruti Suzuki India, were down around 2-3%, weighing on the index.
In the Nifty 200, shares of Cochin Shipyard were down nearly 6% and remained the worst-performers in the index. Public sector banks Canara Bank, Bank of India, and Punjab National Bank were down around 3?ch. Shares of automobile players TVS Motors, Hyundai Motor India, and Hero Motocorp, were down 2-5%. Coforge was the top gainer in the Nifty 200, up nearly 5%, while peers Persistent Systems, Mphasis, and LTM were up 2-4%.
In the Nifty 500, shares of Gland Pharma held onto their gains and remained the top gainer in the index, trading over 15% higher. Amber Enterprises India remained the worst-hit stock in the index, down nearly 16%. (Shruti Nair)
Equity Alert:Most Asia mkts dn on high oil prices, Trump fresh threat to Iran
MUMBAI--1416 IST--Most indices in Asia ended lower as sentiment dampened due to elevated crude oil prices and the continued fragility in the US-Iran ceasefire. Brent crude oil futures were above $110 per barrel. South Korea's KOSPI was the only major index in the region to close in the green Monday. US President Donald Trump issued a fresh threat to Iran in a social media post on Truth Social. Iran is running of time, Trump said. "...they better get moving, FAST, or there won't be anything left of them," he added.
In some stock-specific action from Japan, shares of banking major Mizuho Financial Group Inc. ended the day almost 6% lower after it said it hasn't decided on making an investment in Rakuten Bank, CNBC reported. Mizuho currently holds a 14.99% stake in Rakuten Group's credit card and financial services arm, Rakuten Card Co. Shares of Rakuten Bank, meanwhile, surged over 10%.
Australia's S&P ASX 200 fell 1.45% Monday to hit a new 20-day low. Over the last five days, the index has lost 2.26%. The FTSE Singapore Strait Times oscillated between gains and losses but was flat throughout the trading session. Indonesia's benchmark IDX Composite index fell for the fifth straight session. Monday, the index was down almost 3%.
The following were the levels of major Asian indices at 1414 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4833.5237 | (-)0.54 |
| Hang Seng Index | 25675.18 | (-)1.11 |
| Nikkei 225 Day | 60815.95 | (-)0.97 |
| TOPIX FIRST SECTION | 3826.51 | (-)0.97 |
| KOSPI | 7516.04 | 0.31 |
| FTSE Singapore Strait Times | 4989.68 | 0.01 |
| S&P/ASX 200 Index | 8505.30 | (-)1.45 |
(Ruchira Kagita)
Equity Alert: Godfrey Phillips down 6%; co sees FY27 challenging on tax hike
MUMBAI--1402 IST--Shares of Godfrey Phillips India fell over 6% to an intraday low of INR 2,275.60. The stock declined after the management said that the coming year appears challenging due to the tax hike on cigarettes. The company's earnings for the March quarter were robust, with net profit doubling on year.
"The steep increase in taxation in Q4 FY26 will make the next year challenging," said Sharad Aggarwal, chief executive officer of the company in an investors' presentation. In January, the government announced an excise duty in the range of INR 2,050-INR 8,500 per thousand sticks based on the length of the cigarettes, which became effective in February.
For the March quarter, the company reported a net profit of INR 4.84 billion, up over 101% on year. The revenue of the company grew 85% on year to INR 34.79 billion for the reporting quarter. At 1359 IST, Godfrey Phillips India's shares traded over 4% lower at INR 2,320.50. Over 3 million shares of the company changed hands on the NSE, which is over seven times higher than the number of shares traded till Friday. (Adhithya Aji)
Equity Alert: Indices turn flat; shrs of select select bks, fincl svcs cos up
MUMBAI--1358 IST--Headline indices recovered from earlier losses and turned flat. Despite the majority of its constituents still trading in the red, the Nifty 50 came off its earlier lows. Stocks of information technology companies, select banks, and financial services companies were among the gainers in the index. However, shares of energy, metal, and select automobile companies limited the recovery of the 50-stock index.
At 1356 IST, the Nifty 50 was flat at 23644 and the BSE Sensex was at 75313.32%, up 0.1%. Tech Mahindra continued to reign as the top-gainer in the Nifty 50. The stock extended its intraday gains and traded over 4% higher. Peers Infosys, HCL Technologies, and Wipro traded around 1-2% higher. Index heavyweight stocks ICICI Bank and HDFC Bank gained 0.2% and 0.7%, respectively. Financial services companies Bajaj Finserv and Bajaj Finance rose around 1?ch.
Power Grid Corp. of India shed 4% and remained at the bottom of the Nifty 50 index. Shares of peer NTPC were down roughly 2%. Metal companies Hindalco Industries and Tata Steel also remained lower, down 1.5% and 3%, respectively. Automobile companies also remained in the red, with shares Maruti Suzuki India being the worst hit among its peers, down nearly 2%.
Broader market indices stayed lower, with the Nifty mid-cap indices down 0.5-0.6%, while the small-cap indices faced steeper losses, shedding 1.4-1.8%. Among sectoral indices, the Nifty IT index rose nearly 2% and remained the highest gainer. The Nifty Consumer Durables index remained lower, down 2.3%.
IT stocks were among the top gainers in the Nifty 200 index as well. Coforge was the top performer, up around 4, while peers LTM, Mphasis, and Persistent also saw gains, trading nearly 2–4% higher. Shares of Cochin Shipyard remained the worst performer in the index, down nearly 6%. Shares of state-owned banks Punjab National Bank and Bank of India were also among the laggards, down around 3?ch. Bank of India hiked the rates on select fixed deposits across medium and long-term tenures, with the revised rates effective from Monday.
In the Nifty 500, shares of Gland Pharma remained the top-gainer, trading over 14% higher. Shares of Amber Enterprises India fell nearly 15% and remained the worst-performing stock in the index. (Shruti Nair)
Equity Alert: PN Gadgil hits 5% lower circuit, stock drops 14.5% in 2 days
MUMBAI--1347 IST--Shares of P N Gadgil Jewellers fell 5% to hit a lower circuit at INR 545.25 on the NSE. The stock has lost around 14.5% in the last two sessions after the company released its March quarter earnings. Brokerages said that while the company's net profit and top line growth were encouraging, its gross margins plummeting was a key risk in the near term. Brokerage Motilal Oswal Financial Services cut its target price on the stock by 13% to INR 715. As at 1330 IST, 50,380 shares of the company changed hands, tenfold lower than the number of shares traded till the same time Friday.
The company's consolidated net profit for the March quarter jumped 45.6% on year to INR 902.56 million. Revenue from operations for the quarter more than doubled to INR 35.44 billion. The top line growth was driven by robust same-store sales growth of 86%. Retail revenue grew 102% on year to INR 26.10 billion, franchisee revenue increased 132% to INR 4.3 billion, and e-commerce sales rose 67% to INR 1.5 billion. Gold bar and coin sales surged over 200% to INR 14 billion.
Meanwhile, its gross margin slipped 231 basis points to 9.7% from 12% in the year-ago quarter. The company attributed the contraction in consolidated gross margins to three key factors. First, a higher share of gold bars and coins in the sales mix, which rose from 28% to 40% of revenue and compressed margins by around 150 basis points given the segment's thinner spreads. Second, a lower contribution from studded jewellery due to a one-time Foundation Day and Gratitude offer on gold jewellery, which diluted margins by approximately 30 basis points. Third, higher trade discounts and promotional offers during the Gudi Padwa festive season and new market expansion, which weighed on margins by approximately 50 basis points.
Motilal Oswal reduced its earnings per share estimates by 3% for 2026–27 (Apr-Mar) and 1% for FY28. "Given the ongoing strategic initiatives and long-term growth visibility, we reiterate our 'buy' recommendation on the stock," the brokerage said. The company's management expects revenue of INR 135 billion for FY27. This growth is expected to be supported by strong same-store sales growth and continued store expansion. (Eshitva Prakash)
Equity Alert: Zydus Wellness falls 2?ter PAT for Q4, FY26 down on year
MUMBAI--1345 IST--Shares of Zydus Wellness fell over 2% to a low of INR 490.95 after the company reported its March quarter results Monday. The stock was down just 0.4% ahead of the results. However, the stock came off lows and at 1338 IST, traded 0.9% lower at INR 497.70. So far, over 600,000 shares changed hands on the NSE, higher than over 200,000 shares traded during the same period Friday.
Zydus Wellness posted a consolidated net profit of INR 1.62 billion for the March quarter, down nearly 6% on year, while its revenue rose around 63% to INR 14.85 billion. For the financial year ended March, the company's bottom line fell over 43% on year to INR 1.97 billion. The top line rose over 46% on year to INR 39.61 billion for FY26.
All three brokerage reports available with Informist on the company have a 'buy' recommendation on the stock with an average target price of INR 532. This price target is almost 6% higher than the stock's closing price on Friday. (Ashutosh Pati)
Equity Alert: Gland Pharma hits 52-wk high on strong Q4; brokerages bullish
MUMBAI--1340 IST--Shares of Gland Pharma soared over 16% to hit their highest level in 52 weeks to INR 2,164 after the company reported a strong set of earnings for the March quarter and forecast healthy growth for 2026-27 (Apr-Mar). Brokerages remain bullish on the stock and hiked their respective targets and earnings estimates for FY27 and FY28.
Gland Pharma's pen or cartridge fill-finish line capacity was at 140 million units per annum at the end of FY26. This is seen driving growth for the company, brokerages highlighted. Contracts from the contract development and manufacturing organisation segment will be an important growth driver, the company said. The contract development and manufacturing organisation business grew 65% on year in the March quarter and 33% in FY26.
"We raise the valuation multiple as we think the company's business development efforts can accelerate revenue growth, presenting an upside risk to our current estimates," Nomura noted in a report. The brokerage maintained its "buy" call while revising the target price upwards by 19.5% to INR 2,390 from INR 2,000 earlier. Gland Pharma is likely to post a sales growth of 15% in FY28, and of 19-20% in FY29, Nomura said citing the management as forecasting.
In the March quarter, Gland Pharma's Europe subsidiary Cenexi's earnings before interest, taxes, depreciation, and amortisation margin was 1% and it sees the margin growing to mid to high single-digits in FY27, which is an improvement over previous targets, Elara Securities noted. Further, the management forecast 12-13% revenue growth in constant currency terms in FY27. Elara Securities believes the company can meet or even surpass this guidance. Continued pressure in the US business and delayed turnaround at Cenexi are key risks, the brokerage said. The brokerage retained its "buy" stance and hiked its target price by almost 4% to INR 2,306 from INR 2,225.
The company's base business is expected to strengthen going forward. New order wins in the contract development and manufacturing organisation space will contribute $40 million in FY27, ICICI Securities said in a report. The Semaglutide opportunity is also seen playing out well for the company, the brokerage said. ICICI Securities maintained its "buy" recommendation on the company and hiked the target price by 7.5% to INR 2,365 from INR 2,200. (Ruchira Kagita)
Equity Alert: Great Eastern Shipping up 16% in two sessions after Q4 results
MUMBAI--1320 IST--Shares of Great Eastern Shipping Co. rose over 12% to a record high of INR 1,720 and were up for the second straight session after the company detailed its March quarter earnings Thursday. The stock has gained almost 16% during these two sessions. Volume of the shares traded Monday was nearly two times the shares traded in the previous session.
For the quarter ended March, the company reported a consolidated net profit of INR 10.44 billion for the March quarter, which was nearly a threefold on-year rise. Its top line for the quarter rose 24% on year to INR 15.11 billion.
At 1317 IST, shares of Great Eastern were over 10% higher at INR 1,694.40 on the NSE. So far in the day, 13 million shares of the company have changed hands on the exchange, higher than over 8 million shares traded till the same time Friday. (Arundathi A R)
Equity Alert: Premier Energies up for 4th day; Q4 consol PAT, sales beat view
MUMBAI--1315 IST--Premier Energies continued its rally for the fourth straight session after the company reported higher-than-expected earnings for the March quarter. The stock gained 6.5% in these four sessions. Volume of the shares traded was 14 times higher than those traded in the previous session.
For the March quarter, Premier Energires had reported consolidated net profit of INR 4.57 billion, up over 64% on year. The Street's view of the company's bottom line was at INR 3.89 billion. Its top line grew nearly 38% on year to INR 22.30 billion, in line with expectation of INR 22.23 billion.
The company was "very positive" on its growth outlook for the sector, "given all the initiatives by the government," the company said in a post-earnings call with investors and analysts. The company sees itself benefiting from the West Asia war and said, "The Middle East crisis is turning into a moment for renewables as all stakeholders look to rethink energy mix and reduce consumption of fossil fuels. We believe this is going to provide a major boost to long-term demand for the sector," according to a top official.
Brokerage Elara Securities raised its target price on the stock nearly 19% to INR 1,052. It has reiterated the 'accumulate' recommendation on the stock. The brokerage expects the company to lead by 2027–28 (Apr-Mar), driven by scaling up its module capacity expansion to 11.1 gigawatt and cell capacity to 10.6 GW from 3.6 GW, and adding 10 GW each of ingot and wafer capacity, the brokerage said in its report. "We raise earnings by 12% and 24% for FY27 E and FY28 E, factoring in the advantage of backward integration," the brokerage said.
PL Capital, the new branding name of Prabhudas Lilladher, raised its recommendation on the stock to 'accumulate' from 'hold'. It has also raised the target price by over 18% to INR 1,071, driven by strong delivery and a healthy execution track record with an implied price-to-earnings of 21 times the estimated for FY28. The brokerage estimated the company's revenue to grow at a compound annual growth rate of 45.6% over FY26 to FY28. It also estimated a compound annual growth rate of 33.5% and 19.9% for Premier Energies' earnings before interest, tax, depreciation, and amortisation and profit after tax, respectively. It also revised FY27 and FY28 earnings estimates.
Nuvama Institutional Equities expects Premier Energies to manage its higher capital expenditure needs of INR 120 billion in the next two years. It also raised FY27 and FY28 EBITDA estimates by 4% and 1%, respectively. The brokerage has a 'buy' recommendation on the stock with an average target price of INR 1,190, which was raised almost 10% from the earlier target price.
At 1251 IST, shares of Premier Energies were over 1% higher at INR 993.60 on the NSE. So far in the day, 4.5 million shares of the company have changed hands, higher than 321,898 shares traded till the same time Friday.
Of the nine brokerage reports available with Informist on the company, eight have a 'buy' recommendation on the stock with an average target price of INR 1,084 and one has a 'hold' recommendation. (Arundathi A R)
Equity Alert: Automobile cos fall; fuel prices seen impacting demand
MUMBAI--1311 IST--Sentiment around automobile companies' shares was negative Monday, with the Nifty Auto down nearly 2%. Analysts tracking the sector expect demand to be impacted by the hike in retail fuel prices. Several auto companies had flagged the issue of high input costs going ahead due to a rise in commodity prices caused by the West Asia war. Benchmark indices traded lower due to high crude oil prices.
The recent hike in petrol and diesel prices is likely to impact demand in the sector. "It (retail fuel price hike) will impact sentiment of customers," said Ravi Gupta, senior associate, equity research at InCred Capital said. Gupta is of the view that the double-digit demand growth seen in 2025-26 (Apr-Mar) might come down to around 8-10%. In rural areas, demand will be affected, particularly for two-wheelers, he said.
TVS Motors Co.'s management, in a post-earnings conference call on Wednesday, said there were input costs worries going ahead due to gains in precious metals because of the West Asia war. The company expects to offset this through price hikes. Tata Motors Passenger Vehicles also mentioned the pressure of high input costs.
TVS Motor Co. was the worst hit constituent of the Nifty Auto, down nearly 4%. Tata Motors PV, Mahindra & Mahindra, Eicher Motors, Bajaj Auto, Maruti Suzuki India, Hero Moto Corp., and Ashok Leyland fell 1-2%. At 1308 IST, the Nifty Auto was at 25663.50, down 407.20 points or 1.6%. (Adhithya Aji)
Equity Alert: KEC Intl falls to 3-yr low as Q4 results way below Street view
MUMBAI--1254 IST--Shares of KEC International fell over 10% to a three-year low of INR 493.15 after the company posted poor results for the March quarter, with both its top line and bottom line missing the Street's estimates by a wide margin. At 1253 IST, shares of the company traded 9.7% lower at INR 495.20. The volume of shares traded so far in the day has risen multifold to 2.84 million from 447,816 around the same time Friday.
The company's consolidated net profit fell over 28% on year to INR 1.93 billion, the sharpest fall in three years, and below expectations of INR 2.42 billion. Its revenue for the quarter fell 7% on year to INR 63.90 billion, significantly lower than analysts' expectations of INR 71.99 billion. This was the first fall in the company's top line in four years.
Modest sales growth in KEC International's largest segment, transmission and distribution, and a double-digit fall in revenue from the non-transmission and distribution businesses weighed on the company's total revenue for the quarter. Revenue from its non-transmission and distribution business fell 24% on year to INR 21.92 billion, while sales from the company's transmission and distribution business, which accouns for 70% of total revenue, grew only 4% to INR 44.85 billion.
The company's gross margin for the quarter contracted 200 basis points on year to 20.2% with its earnings before interest, tax, depreciation, and amortisation declining 17% on year to INR 4.48 billion. The margins were in line with the 7% estimate by Motilal Oswal Financial Services, which has a 'buy' rating on the stock with a target price of INR 750. This implies a near 37% upside to the stock's previous close.
Of the 12 brokerage reports on the company available with Informist, 11 have a 'buy' recommendation on the stock with an average target price of INR 872 while Nuvama Institutional Equities has a 'hold' recommendation. (Ashutosh Pati)
Equity Alert: Most IT stocks gain for 2nd day after falling sharply past week
MUMBAI--1248 IST--Most information technology stocks rose for the second straight session Monday, with the Nifty IT index rising 2.3% to an intraday high of 28358.85 points. The stocks rose in a pullback move from their recent sharp correction, according to two technical analysts. The sentiment around stocks was also supported by the rupee falling to a fresh record low against the dollar at INR 96.3325 a dollar. Depreciation of the rupee against the dollar is good for domestic IT companies which earn a chunk of their revenue from US-based clients.
At 1237 IST, the Nifty IT index was up over 2% at 28316.35 points and was among the only two sectoral indices to trade in the green. Tech Mahindra, Infosys, Wipro, HCL Technologies, and Tata Consultancy Services rose 0.8–4.0% and were among the top gainers in the Nifty 50 index. Among mid-cap IT companies, Coforge, Persistent Systems, and Mphasis were up 2.8–4.9%.
The sectoral index has gained as much as 4% in the past two sessions after entering into a deep correction zone in the past week amid concern that OpenAI's new artificial intelligence deployment company might become a competition for Indian IT companies, eating up their revenues and market share.
Information technology stocks had been on a selling spree since early February as rising concern over artificial intelligence-led disruption further worsened the outlook for the sector, which was already struggling with uncertainty over a recovery in discretionary spending. The Nifty IT index has so far shed around 12000 points from the peak of 40301.4 points it hit on Feb 3. (Arya S. Biju)
Equity Alert: SJVN dn 9?spite strong Q4; Elara cuts target 12% on delays
MUMBAI--1240 IST--Shares of SJVN fell nearly 9% to an over one-month low of INR 70.50 on the NSE after rising for three straight sessions. While the company's March quarter revenue was strong due to commissioning of the Buxar unit-1, its net profit growth was muted, as per analysts, due to higher finance costs. Brokerage Elara Securities (India) retained its 'buy' recommendation on the stock, but cut its target price nearly 12% to INR 106 from INR 120 due to delay in project commissioning.
Elara Securities also reduced its earnings estimates by 23% for FY27, factoring in delayed project commissioning and raised its FY28 earnings estimate by 5% to account for full stabilisation of the Buxar plant. For the March quarter, SJVN's net profit jumped fourfold on year to INR 1.25 billion. Revenue during the quarter surged over twofold to INR 9.34 billion. Sequentially, its net profit slumped over 50%, while its revenue rose 10.4%. A majority of the revenue growth was driven by recognition of sales for Nathpa Jhakri and Rampur HPS. Additional Unit one of Buxar plant contributed INR 5.22 billion to consolidated revenue, the company said.
SJVN added 1.73 gigawatts of capacity in the March quarter and its total capacity was 4.20GW. It has an under-construction project pipeline of 3.93MW. The company has earmarked a capital expenditure of INR 94 billion for FY27, INR 78 billion for FY28 and INR 75 billion for FY29. It had earlier guided for achieving 25 GW by 2030, which is under review due to slower tendering and operational challenges. (Eshitva Prakash)
Equity Alert: Indices come off lows; auto, fincl svcs cos remain laggards
MUMBAI--1225 IST--Headline indices came off lows, with the Nifty 50 recovering to above the 23500 level. Shares of metal, automobile, and financial services companies continued to be a drag on the 50-stock index. Information technology companies continued to be among the main gainers in the index and rose further. At 1211 IST, the Nifty 50 was at 23512.35, down 0.6%, while the BSE Sensex was at 74846.51, down 0.5%.
Tech Mahindra extended its gains, trading 3.3% higher and was the top performer in the Nifty 50. Its peers HCL Technologies, Wipro, and Infosys rose nearly 1–2%. Among the laggards, shares of Power Grid Corp. of India remained the worst hit stock in the index, down nearly 5%. Shares of metal companies Tata Steel and Hindalco Industries were down around 4% and 2%, respectively. Shares of automobile companies Bajaj Auto, Maruti Suzuki, and Eicher Motors were down 1.5-2%. Shares of select banks and financial services companies were also a drag on the 50-stock index. Shriram Finance and Jio Financial Services were down 2% and 1%, respectively.
Broader market indices continued to fare worse than their headline peers. The Nifty small-cap indices were down around 2?ch, while the Nifty mid-cap indices were down over 1?ch. Among sectoral indices, the Nifty IT index continued to be the highest gainer, up around 2%, with the Nifty Pharma being the only other gainer, up marginally. The Nifty Consumer Durables index was the worst performer, down nearly 3%, with shares of Amber Enterprises the main laggard, down nearly 15%. The stock hit a one-month low during the session and was also the worst performer in the Nifty 500 index.
In the Nifty 200, shares of Coforge were the highest gainers, up nearly 4%, while Cochin Shipyard continued to be the worst-performing stock, down around 5%. Energy stocks were also among major laggards in the index, with shares of Adani Green Energy, Adani Energy Solutions, and CG Power and Industrial Solutions, shedding 3-4%. Power financiers REC and Power Finance Corp. also shed around 4?ch.
In the Nifty 500, shares of Gland Pharma traded nearly 15% higher and remained the top gainer in the index. The stock hit a 52-week high of INR 2164.40 earlier in the session. The company reported a nearly twofold on-year jump in its consolidated bottom line for the March quarter. It reported a consolidated net profit of INR 3.67 billion on revenues of INR 17.43 billion. (Shruti Nair)
Equity Alert: Afcons Infra dn 8% as Croatia road construction orders cancelled
MUMBAI--1220 IST--Afcons Infrastructure fell over 8% to an over one-month low of INR 309.10 after the company Saturday said Croatian Motorways has cancelled the company's bid for two road construction projects in the Republic of Croatia, with a combined estimated value of INR 45.35 billion. The company will release its March quarter earnings later in the day.
Croatian Motorways cancelled the tenders by the company as it was beyond their planned or secured financial resources. Afcons Infra was declared the lowest bidder for the projects on Jul. 17. The first project was for constructing a 9-kilometre stretch in the Metkoviy-Dubrovnik sector, valued at INR 23.98 billion, and the second covered the construction of an 11.5-km road work at Slano-Puo Mravinjac subsection of the same sector.
The company on Sunday also said it was selected as the most suitable bidder for the rehabilitation and construction of a railway line in Croatia. The project is for the reconstruction of the existing track and construction of a second track on the Dugo Selo-Novska railway line, and includes overhead electrification, signalling and telecommunication works in the Republic of Croatia. The order is worth €677.07 million (around INR 75.86 billion).
Of the five brokerage reports available with Informist on the stock, three have a 'buy' recommendation, while one each have a 'hold' and 'sell' call. (Eshitva Prakash)
Equity Alert: Cochin Shipyard falls to 1-mo low after Q4 PAT, sales down YoY
MUMBAI--1210 IST--Shares of Cochin Shipyard fell 7.5% to an over one-month low of INR 1,475 after the company's net profit fell 24% on year and its sales declined 26.5% on year for the March quarter. The stock was down for the third straight session and shed nearly 11% during this period. Volume of the shares traded was higher than those traded in the previous session.
Cochin Shipyard's bottom line for the March quarter fell on year to INR 2.16 billion. Though the bottom line fell on year, it grew over 57% sequentially. The net sales of the company for the quarter fell on year to INR 12.14 billion. However, on a sequential basis, they rose over 4%.
At 1202 IST, shares of Cochin Shipyard were 6% lower at INR 1,499 on the NSE. So far in the day, over 2 million shares of the company have changed hands on the exchange, higher than the shares traded till the same time Friday. (Arundathi A R)
Equity Alert: HDFC AMC at one-mo low after co's Sat cybersecurity incident
MUMBAI--1130 IST--Shares of HDFC Asset Management Co. fell over 4% and hit a one-month low of INR 2,602.20 after the company informed exchanges that its systems faced a cybersecurity incident on Saturday. The asset manager received a message from an unknown source that claimed to have gained access to certain parts of its information technology infrastructure, the filing read.
Subsequently, it initiated necessary protocols to prevent damage, if any, and also hired a specialist firm to assess the potential impact. At 1107 IST, the AMC's stock was at INR 2,617.80, down 3.2%. The trading volume in the stock has been low since open. So far, about 261,000 shares of the company traded on the NSE, tad higher than over 144,300 shares traded till the same time Friday. The stock trader lower on Monday, after having gained in the last three sessions, rising 3%.
"While the detailed assessment is ongoing, based on the initial assessment, the incident is unlikely to affect the continuity of our business and operations and there doesn't appear to be any material impact on the company's operations," HDFC AMC said.
The company did not elaborate on the nature of the incident or which of its systems were affected. It did not detail whether any customer data was compromised. It did not give comment on whether the company is insured against the damages if any arising from this attack. It also did not specify the timeline for completing the forensic review being carried out by the external cybersecurity experts. (Gopika Balasubramanium)
Equity Alert: Brokerages see more retail fuel price hikes if crude stays high
MUMBAI--1118 IST--Even though the government's decision to hike petrol and diesel prices by INR 3 per litre is expected to reduce the under-recoveries of oil marketing companies, the increase is inadequate relative to their prevailing losses, brokerages said. They expect further staggered retail fuel price hikes going forward, given persistent higher oil prices due to the ongoing West Asia war.
The integrated under-recoveries of oil marketing companies post the price hikes stand at around INR 13 per litre, Emkay Global Financial Services said in a report Saturday. The recent fuel price hike could reduce under-recoveries on petrol and diesel to INR 5 billion from INR 6 billion, assuming Brent crude stays around $110 per barrel and normalised refining cracks of $15 per barrel, adjusted for special additional excise duty, the brokerage said.
However, oil marketing companies might need another INR 25 per litre hike in retail fuel prices to break even on fuel marketing margins, global brokerage Nomura said in a note on Sunday. Brokerages expect Indian Oil Corp. Ltd., Bharat Petroleum Corp. Ltd., and Hindustan Petroleum Corp. Ltd. to make integrated losses of $4 per barrel, $8 per barrel, and $19 per barrel, respectively, despite the excise duty cut, windfall tax on standalone refiners, and the INR-3-per barrel retail fuel price hikes. This is significantly lower than the margins of $12–$14 per barrel the companies were making just before the war started.
Among oil marketing companies, Indian Oil is better placed due to stronger refining integration, while Hindustan Petroleum and Bharat Petroleum remain more exposed to marketing losses, Elara Securities said. Going forward, it expects shares of oil marketing companies to be driven less by March quarter earnings numbers and more by the pace of price hikes, crude trajectory and government
support.
At 1114 IST, shares of Indian Oil, Hindustan Petroleum and Bharat Petroleum traded around 2% lower each on the National Stock Exchange. (Arya S. Biju)
Equity Alert: ICIC Pru Life falls 9%; promoter to reduce stake in co
MUMBAI--1112 IST--Shares of ICICI Prudential Life Insurance Co. fell nearly 9% to an over two-year low of INR 488.60. The stock declined after its promoter Prudential Corp. Holdings decided to bring down its stake in ICICI Prudential Life to 10%. The divestment is part of the regulatory approvals for Prudential's 75% stake buy in Bharti Life Insurance Co.
As on Mar. 31, Prudential held 21.91% stake in ICICI Prudential Life Insurance Co. and the promoter is engaging with authorities concerned to seek a timeframe for the divestment that may be required. Post this news, ICICI Bank – another promoter of the company, said that it intends to retain a majority shareholding in the company.
Prudential entered into a share purchase agreement with Bharti Life Ventures Pvt. Ltd. and 360 ONE Asset Management to acquire stake in Bharti Life for a cash consideration of INR 35 billion with a potential addition of INR 7 billion. Following the stake purchase in Bharti Life Insurance and divestment in ICICI Prudential Life, Prudential will cease to be the promoter of the latter company.
At 1104 IST, shares of ICICI Prudential Life Insurance Co. traded over 6% lower at INR 501.65. Over 3 million shares of the company changed hands on the NSE, nearly 19 times the number of shares traded till the same time Friday. The number of shares traded Monday was higher than the average three-month traded volume. (Adhithya Aji)
Equity Alert: Indices remain down; shrs of Tata Steel, Power Grid worst hit
MUMBAI--1050 IST--Indices remained lower, as crude oil prices hovered around $111 per barrel. Less than 10 constituents of the Nifty 50 index traded with gains, though the gains were marginal. Select information technology companies were also among the gainers. All broader market indices fared worse than their benchmark peers. While the Nifty mid-cap indices shed around 1.4–1.6?ch, the Nifty small-cap indices were down over 2%.
At 1044 IST, the Nifty 50 index was at 23424, down 0.9%, while the BSE Sensex was at 74501.42, down 1%. Shares of Tech Mahindra were the highest gainers in the Nifty 50 index, up 1.4%, while peers Infosys and Tata Consultancy Services rose 0.8% and 0.1%, respectively. Shares of Eternal, Power Grid Corp. of India, and Tata Steel were the main laggards, shedding 3–5%, with all three stocks hitting their one-month lows in early trade.
In a post-earnings call with analysts, Tata Steel's management said a notice for the early closure of the coke and gas plants of its subsidiary Tata Steel Netherlands was leading to uncertainty in the subsidiary's operations profit-and-loss statement. For the March quarter, the company reported a consolidated net profit of INR 29.26 billion on revenue of INR 632.70 billion. Shares of Power Grid Corp. of India fell after the company missed the Street's view on its March quarter sales, which fell 9% on year. The energy company reported a net profit of INR 45.53 billion on revenues of INR 99.71 billion.
Among sectoral indices, the Nifty IT index was the only gainer, up 0.6%. The Nifty Realty, Nifty Media, and Nifty Consumer Durables indices were down 2.5-3.3%.
In the Nifty 200 index, shares of Solar Industries India were the highest gainers, up over 2.5%, while Cochin Shipyard was the worst hit stock in the index, shedding over 7?ter the company reported a 24% on-year fall in its net profit for the March quarter. The stock hit a one-month low. Among other laggards were shares of HDFC Asset Management Co., which fell over 3%. The company reported a cybersecurity incident on Saturday. An anonymous source claimed to have gained access to parts of the company's IT infrastructure. The company said it had engaged a specialist firm to assess the extent of the incident, though it maintained that there was no material impact on its operations.
Among the laggards were shares of ICICI Prudential Life Insurance, which were down 3%. The company announced that its promoter Prudential Corp. Holdings, was seeking to reduce its stake in the insurance company to below 10% from 21.91%. Further, Prudential Corp. is looking to buy 75% stake in Bharti Life Insurance Co.
In the Nifty 500, shares of Gland Pharma were the highest gainers, trading nearly 15% higher, while Amber Enterprises India shed over 15% and was the worst hit stock in the index. (Shruti Nair)
Equity Alert: Power Grid falls 5% to 1-month low; co's Q4 sales down 9% YoY
MUMBAI--1055 IST--Shares of Power Grid Corp. of India fell over 5% to an over one-month low of INR 290.20 after the company reported an on-year fall in its sales for the March quarter. The stock fell after gaining in the previous two sessions, during which it had gained almost 2%. Volume of the shares traded was almost twice that in the previous trading session.
The power transmission company posted a net profit of INR 45.53 billion for Jan-Mar, which was an on-year rise of 5%. However, its revenue for the quarter fell over 9% on year to INR 99.71 billion. While the company's net profit surpassed the Street's view, its top line missed estimates by a wider margin. Brokerage JM Financial Institutional Securities expects the company's capital expenditure and capitalisation in 2025-26 (Apr-Mar) to be in a similar range.
At 1052 IST, shares of Power Grid Corp. were nearly 5% lower at INR 291.50 on the NSE. So far in the day, nearly 6 million shares of the company changed hands on the exchange, higher than nearly 3 million shares traded till the same time Friday.
Of the 10 brokerage recommendations available with Informist on the stock, eight have a 'buy' recommendation with an average target price of INR 348. One has a 'sell' recommendation and the other has a 'hold' recommendation on the stock. (Arundathi A R)
Equity Alert: Tata Steel down 5% at one-month low post Jan-Mar results
MUMBAI--1041 IST--Shares of Tata Steel fell over 5% to a one-month low of INR 207.19. The fall in the stock comes after the company announced its March quarter results post market hours Friday. The company's net profit for the quarter rose sharply on year but was below the Street's estimate. The management of the company said that the closure of the coke and gas plants of its arm Tata Steel Netherlands had led to uncertainty.
For the March quarter, the company reported a consolidated net profit of INR 29.26 billion, up nearly 125% on year. This was slightly below analysts' estimate of INR 30.98 billion. Tata Steel missed the estimate on the bottom line as it incurred a one-time cost of INR 3.40 billion. Excluding the one-time cost, the bottom line would have been 32.66 billion, above the estimate.
The company's revenue for the quarter rose nearly 13% on year to INR 632.70 billion, above analysts' estimate of INR 619.06 billion. The management Saturday said the early closure of gas and coke plants of its subsidiary Tata Steel Netherlands Ltd. is sparking uncertainty around the arm's operations profit and loss statement.
"Europe operations may slip into losses in Q1 (June quarter) due to lower profits from Netherlands," Nuvama Institutional Equites said. The brokerage maintained a 'hold' call on the stock and raised the target price nearly 11% to INR 209. However, JM Financial Institutional Securities said Netherlands earnings before interest, tax, depreciation, and amortisation were expected to be positive despite the closure of the coke plant. The brokerage expects carbon costs to offset higher procurement costs.
At 1037 IST, shares of Tata Steel traded nearly 4% lower at INR 208.89. Over 34 million shares of the company changed hands on the NSE, higher than nearly 12 million shares traded till the same time Friday. During Friday's session, the stock of the company had hit an all-time high ahead of its March quarter earnings. (Adhithya Aji)
Equity Alert: Amber Ent hits 1-mth low, co forecasts margin pressure
MUMBAI--1024 IST--Shares of Amber Enterprises fell to their lowest level in over one month even after the company Saturday reported earnings for the March quarter that were largely in line with market expectations. On a standalone basis, brokerage Motilal Oswal Financial Services said, the company's revenue from its consumer durables, electronics, and railway segments beat estimates. However, the company is expected to face some pressure in the near term due to high crude oil prices.
The Amber Enterprises management told analysts in a conference call after the earnings that temporary margin pressure of 50–100 basis points can be expected on a consolidated basis, CNBC reported. In the March quarter, the company's net working capital days rose to 29 from nine in the corresponding period a year ago, mainly due to proactive inventory positioning amid supply chain disruptions, Amber Enterprises said.
Further, the company said in its investor presentation that it sees sales from its electronics division growing 40% on year in the financial year 2026-27 (Apr-Mar) and those from its railway sub-systems segment increasing 30–35%. The company's growth forecast for FY27 for its electronics segment is slightly lower than the growth seen in FY26. At 1021 IST, shares of Amber Enterprises were down 15% at INR 7,205, with 859,149 shares having changed hands. (Ruchira Kagita)
Equity Alert: Markets open lower as Trump warns Iran, crude oil above $111/bbl
MUMBAI--0943 IST--The benchmark indices opened sharply lower after US President Donald Trump warned Iran the "clock is ticking" for a peace deal. Trump's statement pushed crude oil prices higher and the July futures contract of Brent Crude was above $111 per barrel ahead of the market opening. Information technology companies were the major gainers in the indices. At 0942 IST, the Nifty 50 was at 23355.65, down 287.85 points or 1.2%, and the BSE Sensex was at 74308.44, down 929.55 points or 1.2%.
IT majors Infosys, Tech Mahindra, Wipro, and Tata Consultancy Services were the major gainers in the Nifty 50, up 0.2-1.0%. Coal India and Bharti Airtel were up marginally. Power Grid Corp. of India was the worst hit stock among the Nifty 50 constituents, down over 3%. The company's Jan-Mar revenue fell over 9% on year and missed analysts' consensus estimate. Tata Steel, Maruti Suzuki India, Shriram Finance, Eicher Motors, and Mahindra & Mahindra were down 2–3%. Heavyweight banking stock HDFC Bank was down nearly 2%.
The broader market indices mirrored the fall in the benchmarks. The Nifty Midcap indices were down 1-1.4% and the Nifty Smallcap indices were down 1.5-1.7%. Nifty IT was the only gainer among the sectoral indices, up 0.1%. Meanwhile, Nifty Consumer Durables was the underperforming sectoral index, down over 2%.
Premier Energies rose after the company's consolidated net profit for the quarter grew over 64% on year to INR 4.57 billion. This was better than the Street's view of INR 3.89 billion. Solar Industries rose nearly 3%. On the other hand, Cochin Shipyard was the worst hit in the Nifty 200, down nearly 5%, after the shipmaker's net profit declined for the third quarter in a row.
Gland Pharma was the best performing stock in the Nifty 500, up over 12%. Its consolidated net profit for the March quarter rose 97% on year. In contrast, Amber Enterprises was the worst performer in the index, down over 9%. (Adhithya Aji)
Equity Alert: May open down on Trump's new threat to Iran, higher oil prices
MUMBAI--0835 IST--Headline stock indices may open lower Monday after crude oil prices resumed their climb above the $110 a barrel. This came after US President Donald Trump's new warning to Iran that the "clock is ticking" for a peace deal to be reached with Washington. The indices are likely to track a fall in most Asian markets in early trade. At 0833 IST, the Brent crude oil July futures contract was almost 2% higher at $111.27 per barrel. Foreign investment flows and the rupee's levels are also expected to continue to provide market direction ahead.
Trump on Sunday warned Iran there won't be anything left of the country unless it agrees to a deal. "For Iran, the Clock is ticking, and they better get moving, FAST, or there won't be anything left of them. TIME IS OF THE ESSENCE," NDTV reported, quoting Trump in a post on his social media platform, Truth Social. Trump's threat came after he spoke with Israeli Prime Minister Benjamin Netanyahu.
At 0834 IST, the Gift Nifty was almost 1% lower at 23554.50, which was short of 89 points from the Nifty 50's previous close of 23643.50. "On Friday, the benchmark Nifty index opened with an upside gap and briefly breached the resistance level of 23,800 (spot) during day trade," Vipin Kumar, technical and derivatives analyst at Globe Capital Market, said. "However, it failed to hold above that level and settled slightly lower at 23660 (spot). An unstable geopolitical situation in the Middle East, elevated crude oil prices, continuous FII outflows, and a depreciating Indian Rupee remain key concerns," he said. "A sustained trading below 23580 could drag it toward the 23200–23150 zone. Conversely, a decisive breach above 23800 could lead the index toward 24000–24150 in the near term."
The government cut the windfall gains tax on the export of diesel and aviation turbine fuel for the fortnight, which started from Saturday. The special additional excise duty, or windfall gains tax, on the export of diesel was reduced by INR 6.50 to INR 16.50 per litre, according to a notification issued by the finance ministry Friday. The tax on aviation turbine fuel was cut by INR 17 to INR 16 per litre. The government also introduced windfall gains tax of INR 3 per litre on the export of petrol.
The government has imposed restrictions on silver imports to cut down on demand for precious metals to ease the pressure on the rupee and foreign exchange reserves. The curbs were imposed after silver imports jumped 157% on-year in April to $411 million.
Shares of Power Grid Corp. will be in focus as the company announced its March quarter results Friday post market hours. Its bottom line for the quarter was slightly above the Street's view, with the top line falling on year and way short of the Street's estimate. The company posted a net profit of INR 45.53 billion for Jan-Mar, which is an on-year rise of 5%, compared to a 2% on-year rise estimated by the Street at INR 44.36 billion. Power Grid's revenue for the quarter fell over 9% on year to INR 99.71 billion. Analysts had expected the top line to rise to INR 128 billion. Friday, shares of Power Grid Corp. ended over 1% higher at INR 305.85 on the National Stock Exchange.
American Depositary Receipts of Infosys and Wipro rose over 3% and over 2%, respectively. Meanwhile, those of Sify Technologies and HDFC Bank fell over 4% and over 1%, respectively.
Barring the Kospi and SSE Composite Index, all Asian equity indices declined in early trade. All major US indices settled over 1% lower Friday. (Arundathi A R)
Equity Alert: Most Asian indices fall, West Asia tensions, crude prices weigh
MUMBAI--0822 IST--Stock indices in Asia begin the week on a weak note after US President Donald Trump issued a fresh threat to Iran, warning the West Asian nation "to get moving." The meeting between Trump and his Chinese counterpart Xi Jinping failed to provide clarity on how and when the war in West Asia would cease. Brent crude oil futures surged above $110 per barrel again.
"For Iran, the Clock is Ticking, and they better get moving, FAST, or there won't be anything left of them. TIME IS OF THE ESSENCE!," US President Donald Trump said in a post on Truth Social.
To shield itself from the impact of the war in West Asia, Japan's government will likely issue fresh debt, Reuters reported. Japanese Prime Minister Sanae Takaichi is planning on setting up a supplementary budget, but the size of it is yet to be decided, the media agency said. The yield on the benchmark 10-year Japanese government bond to 2.8%, its highest level since October 1996.
China's industrial production output grew 4.1% on year in April. This is significantly lower than Reuters' expectations of a 5.9% increase. The country's retail sales rose just 0.2% in April, sharply down from a 1.7% rise in March. Reuters had expected retail sales to grow 2% in April.
The following were the levels of major Asian indices at 0819 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4858.5879 | (-)0.02 |
| Hang Seng Index | 25632.37 | (-)1.27 |
| Nikkei 225 Day | 60846.54 | (-)0.92 |
| TOPIX FIRST SECTION | 3834.10 | (-)0.77 |
| KOSPI | 7618.91 | 1.68 |
| S&P/ASX 200 Index | 8523.40 | (-)1.24 |
(Ruchira Kagita)
Equity Alert: US Indices end lower Fri; inflation concerns weigh
MUMBAI--0746 IST--Wall Street indices ended lower on Friday. Elevated crude oil prices near $110 per barrel and a hotter-than-expected inflation print, which dented hopes of a near-term interest rate cut, dampened market sentiment. Further, treasury yields rose sharply, with the benchmark US 10-year yield up over 4.5%
A crucial meeting between US President Donald Trump and his Chinese counterpart Xi Jinping in Beijing ended on a good note but provided no significant headway into ending the war in West Asia and reopening the Strait of Hormuz. Trump had said that Xi agreed on the need to open up the strait, according to a Reuters report, but China did not issue any formal statement on this.
In the week gone by, the S&P 500 gained for the seventh consecutive week, but the NASDAQ snapped its six-week gaining streak. The Dow Jones Industrial Average, meanwhile, posted weekly losses after seeing gains for the two prior weeks.
"There's a realisation that the market had gotten way ahead of itself," Kenny Polcari, chief market strategist at Slatestone Wealth in Jupiter, told Reuters. "It wasn't paying enough attention to what the bond market and economic data is telling it. It was caught up in this momentum AI trade," Polcari said.
Investors will keep an eye out for Nvidia's earnings on Wednesday. Retail majors Target and Walmart will also post their earnings this week.
Jerome Powell's eight-year term as the chair of the Federal Reserve ended Friday. He was, however, nominated to be the chair pro tempore until Kevin Warsh is sworn in as the new chair.
The following were the closing levels of major US indices on Friday:
|
US Indices |
Levels |
Change in % |
|
Dow Jones Industrial Average |
49526.17 | (-)1.07 |
|
NASDAQ Composite |
26225.145 | (-)1.54 |
|
S&P 500 |
7408.50 | (-)1.24 |
(Ruchira Kagita)
US$1 = INR 96.35
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta
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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