Equity Alert
Info Edge falls 5%; brokerages cut earnings estimates for FY27
This story was originally published at 13:57 IST on 25 May 2026
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Equity Alert: Info Edge falls 5%; brokerages cut earnings estimates for FY27
MUMBAI--1346 IST--Shares of Info Edge (India) fell over 5% Monday to INR 908.30, the lowest since December 2023. At 1343 IST, the stock traded 2.4% lower at INR 938.30. The volume of shares traded so far rose to over 8 million, almost double the 4.73 million shares traded during the same period Friday.
Global brokerage Goldman Sachs has trimmed its revenue estimate for Info Edge by 3-7% and its earnings per share estimate by 2-6% for 2026-27 (Apr-Mar) to FY29, according to an X post by ET Now. The brokerage said the stock is at an attractive valuation of 11 times the FY28 enterprise multiple.
Goldman Sachs expects the company's traffic market share gains in its real estate business to aid its monetisation. It sees 10-11% growth in billings in the near term and expects a recovery from FY28. The recruitment vertical of the company is likely to remain subdued amid weakness in hiring in the information technology sector, the brokerage said. It has maintained its "buy" rating on the stock.
Brokerage JP Morgan has also cut its earnings estimate for FY27-28 by 2-10% due to slower growth in billings of its Naukri business, according to an X post by CNBC-TV18. "Job market sentiment remains subdued but stable," the brokerage said. However, JP Morgan expects the earnings before interest, tax, depreciation, and amortisation margin to remain strong on lower marketing expenditure.
Of the eight brokerage reports on the company available with Informist, six have a "buy" or equivalent rating on the stock with an average target price of INR 1,487. Only JM Financial Institutional Securities has a "reduce" rating on the stock and Motilal Oswal Financial Services has a "neutral" rating. (Simran Rede)
Equity Alert: Blue Jet Health up 10% post Q4 results; PAT, sales above view
MUMBAI--1330 IST—Shares of Blue Jet Healthcare rose nearly 10% to an intraday high of INR 485.15. The stock turned positive after remaining down over 2% post the release of the company's March quarter results. Though Blue Jet Healthcare reported a double-digit fall in both its top line and bottom line for the reporting quarter, the results were above the Street's expectations.
For the March quarter, the company reported a net profit of INR 643.44 million, down nearly 42%. However, this was sharply above the analysts' estimate of INR 478 billion. The revenue of the company also fell 31% on year to INR 2.35 billion, but was above the expectations of INR 2.09 billion.
At 1312 IST, shares of Blue Jet Healthcare traded nearly 8% higher at INR 474.35. Around 3 million shares of the company changed hands on NSE, which is over 22 times higher than the number of shares traded till the same time Friday. For a brief period, the stock was the top gainer among the Nifty 500 constituents. (Adhithya Aji)
Equity Alert: Indices stay up, aided by banks, financial services, auto cos
MUMBAI--1312 IST--The headline indices held on to their gains with only seven constituents of the Nifty 50 index down. Automobile and financial institution stocks were among those to rise the most. The Nifty small-cap indices continued to outperform the benchmark, gaining 1.2–1.5%. The Nifty mid-cap indices rose around 0.7?ch.
At 1259 IST, the Nifty 50 was at 23979.15 points, up 1.1%, while the BSE Sensex was at 76323.40 points, up 1.2%. Eicher Motors was up over 5% and continued to be the best performer in the Nifty 50 and Nifty 200 indices. Among banks, HDFC Bank led the pack, climbing 2.2%. Max Healthcare Institute, whose shares were down 2.5%, remained the worst-hit stock in the index.
In the Nifty 200, Indian Oil Corp. continued to be over 3% higher after the company announced its fourth price hike in May. Peers Hindustan Petroleum Corp. and Bharat Petroleum Corp. rose 3% and 4%, respectively.
Among other gainers, shares of Torrent Pharmaceuticals, up over 3%, hit a record high at INR 4,712.90 per share after the company detailed its March quarter financial results Friday. While Torrent Pharma's revenue rose 42% on year to INR 41.97 billion, its net profit fell 22% to INR 3.89 billion. The fall in the bottom line was driven by the debt-fuelled acquisition of a controlling stake in JB Chemicals. However, the merger is expected to add INR 4.5 billion in cost synergies by the financial year 2028-29 (Apr-Mar) and drive net profit growth over FY26-FY28, according to a research report by JM Financial. The brokerage also expects the company to deliver low-teens top-line growth and 50–70 basis-point margin expansion every year led by price hikes and operating leverage in its branded generics-heavy portfolio. The brokerage maintained a "buy" recommendation on the stock and increased the target price to INR 5,423 from INR 4,743.
Info Edge India was down nearly 3% and remained the worst-hit stock in the Nifty 200. Shares of upstream oil player Oil India shed 2.4% as crude oil prices slipped 4% to $99.40 per barrel. Its sector peer, Oil and Natural Gas Corp., fell 2% to be among the worst-hit stocks in the Nifty 50.
In the Nifty 500, Blue Jet Health rose nearly 10?ter the company's March quarter results beat the Street view. For Jan–Mar, the company reported a net profit of INR 643.44 million on revenues of INR 2.35 billion. Railway companies were also among the notable gainers. Jupiter Wagons and Titagarh Rail Systems rose around 7% and 9%, respectively, amid media reports that Indian Railways is likely to roll out a mega tender worth INR 400 billion. Shipping Corp. of India fell 4% and became the worst-hit stock in the Nifty 500. (Shruti Nair)
Equity Alert: Max Health down 9% in 2 sessions after Q4 earnings miss view
MUMBAI--1246 IST--Shares of Max Healthcare fell as much as 2.9% to an intraday low of INR 994, extending losses for the second straight session after the healthcare giant's consolidated net profit and revenue for the March quarter missed the Street's view by a wide margin. Even though some brokerages trimmed their target price on the stock after the March quarter earnings, they remain largely positive on the long-term growth of the company.
Choice Institutional Equities downgraded the stock to "add" from "buy" while trimming its target price over 7% to INR 1,160. The brokerage, however, remains positive on the company's growth outlook, supported by aggressive capacity expansion, sustained occupancy and industry-leading earnings before interest, tax, depreciation, and amortisation margin. It estimates the company's revenue, EBITDA and adjusted net profit to grow at a compound annual growth rate of 23.8%, 27%, and 25.4%, respectively, over 2025-26 (Apr-Mar)-FY29. The company is structurally positioned for strong operating leverage as its recent capacity additions mature towards optimal occupancy, the brokerage added.
HDFC Securities also cut its target price on the stock by around 3% to INR 1,140 with an "add" call. The brokerage believes that the company is on track with its capital expenditure plan to add over 3,000 beds between FY26 and FY28. It, however, trimmed its FY27 and FY28 EBITDA estimates for the company by 2% and 3%, respectively, after factoring in the FY26 performance and integration of Kalinga Hospital.
"We believe Max HC is approaching an inflection point where its expansion pipeline is set to translate into earnings growth," Emkay Global Financial Services said in a report. It expects operating leverage to kick in once the projects that are being commissioned in phases achieve full operationalisation. Additionally, the full impact of the central government health scheme is yet to flow through, providing further incremental upside, Emkay said. Meanwhile, it flags delay in the commissioning of greenfield projects, rising doctor costs, and any adverse regulatory ruling for healthcare services as key risks for the stock.
At 1235 IST, the stock traded 2.6% lower at INR 997.15 and was the worst hit Nifty 50 stock. In the past two sessions, the stock has lost around 9%. So far in the day, over 2 million shares of the company have changed hands on the National Stock Exchange, far below the near 8 million shares traded till the same time Friday. (Arya S. Biju)
Equity Alert: OMCs shrs rise; fuel price hikes, easing US-Iran war to aid cos
MUMBAI--1221 IST--Shares of public sector oil marketing companies traded with positive momentum Monday after Indian Oil Corp. hiked the price of petrol by INR 2.61 per litre and of diesel by INR 2.71 per litre, taking their retail prices to INR 102.12 per litre and INR 95.20 per litre, respectively, in Delhi. Renewed hopes of a peace pact between the US and Iran, which led to easing crude oil prices, and an appreciating rupee lent momentum to these stocks.
Oil marketing companies are expected to see relief post the retail price hikes, coupled with easing crude oil prices and an appreciating rupee, according to Sumit Pokharna, vice president, fundamental research at Kotak Securities. Pokharna is of the view that if the crude eases to around $80 per barrel and the rupee improves against the dollar, downstream companies are likely to see some benefits.
So far, Indian Oil Corp. has hiked petrol prices by INR 7.35 per litre and diesel prices by INR 7.53 per litre in total since May. 15. The hike in petrol prices was expected as the country is grappling with the energy shock caused by the West Asia war, which pushed crude oil prices higher. Prime Minister Narendra Modi had earlier urged the people to lower the consumption of fuel, acknowledging the energy crisis.
Crude oil prices slipped below $100 per barrel on the optimism of a peace deal between the US and Iran. At 1216 IST, July futures of Brent crude were nearly 5% lower at $98.44 per barrel. On Monday, the domestic currency rose 0.5% to 95.2625 after touching a low of 96.30250 on Friday.
At 1219 IST, shares of Indian Oil Corp. and Hindustan Petroleum Corp. traded over 3% higher each at INR 144.30 and INR 402.55, respectively. Bharat Petroleum Corp. traded nearly 4% at INR 306.90. (Adhithya Aji)
Equity Alert: Indices stay higher; auto cos, bks, fincl svcs cos gain most
MUMBAI--1202 IST--Benchmark indices remain higher with only seven constituents of the Nifty 50 in the negative territory. Brent crude oil futures were over 5% lower around $98 per barrel. Financial institutions and automobile companies continued to reign as the top gainers in the Nifty 50 index. The Nifty small-cap indices gained 1.3–1.5% and outperformed the 50-stock index, while the Nifty mid-cap indices rose nearly 1?ch, underperforming the benchmark.
At 1143 IST, the Nifty 50 was at 23983.30, up 1.1%, while the BSE Sensex was at 76344.17, up 1.2%. Eicher Motors was 5.5% higher and was the top-performing stock in the Nifty 50 and Nifty 200 indices after its March quarter results beat the Street's view. Peers Mahindra & Mahindra and Tata Motors Passenger Vehicles rose over 2?ch. Index heavyweight HDFC Bank, up 2.3%, led the gains among banks, while peers Kotak Mahindra Bank, State Bank of India, Axis Bank, and ICICI Bank rose 1.3–2%. Financial services companies Bajaj Finserv, Bajaj Finance, and Shriram Finance rose nearly 2-3%. Shares of Adani Enterprises extended their gains and climbed nearly 3%. The stock hit its over-six-month high at INR 2,810 per share.
Max Healthcare Institute, down 2.2%, remained the worst-hit stock in the Nifty 50 index. Shares of Hindalco Industries and Oil and Natural Gas Corp also stayed in the negative zone, down 2% and 1%, respectively. While Sun Pharmaceutical Industries came off earlier lows and turned flat, its peer Dr. Reddy's Laboratories gave up its gains and shed 0.5%, slipping into the red.
All sectoral indices were in the green. The Nifty PSU Bank, Nifty Bank, and Nifty Financial Services indices rose around 1.8–2.2% and were the highest gainers. The Nifty Healthcare and Nifty Metal indices saw the smallest gains among sectoral peers, up only 0.1?ch.
In the Nifty 200 index, oil marketing companies continued to be among the notable gainers, with Bharat Petroleum Corp., Hindustan Petroleum Corp., and Indian Oil Corp. up around 4?ch. Info Edge India, down 3.5%, remained the worst-hit stock in the index.
In the Nifty 500, HFCL was up 8.4% and remained the top gainer. Belrise Industries extended its losses and became the worst-hit stock in the index. (Shruti Nair)
Equity Alert: GAIL India at 3-mo high; to spend INR 116 bln as capex in FY27
MUMBAI--1200 IST--Shares of GAIL (India) rose over 6% to a three-month high of INR 170.70 after the company targeted to spend INR 115 billion–INR 116 billion in capital expenditure in financial year 2026-27 (Apr-Mar). The stock gained for the third straight session and rose nearly 10% during this period. The volume of the shares traded so far rose almost three times compared to the same time on Friday.
The company has also raised its guidance for capex from INR 90 billion-INR 100 billion guided in the December quarter, the company's management said in its post-earnings analyst call for the March quarter Saturday. It expects to achieve a minimum profit before tax of INR 40 billion from the gas marketing segment in FY27 if the West Asia war persists during the year.
At 1154 IST, shares of GAIL (India) were almost 5% higher at INR 168.50 on the NSE. So far in the day, nearly 24 million shares of the company have changed hands on the exchange, higher than over 9 million shares traded till the same time Friday.
Of the 11 brokerage recommendations available with Informist on the company, eight have a 'buy' recommendation with an average target price of INR 189. Of the remaining three, two have a 'hold' recommendation and one has a 'sell' recommendation on the stock. (Arundathi A R)
Equity Alert: Hindalco falls 2% post co's Q4 consol PAT halves YoY
MUMBAI--1140 IST--Shares of Hindalco Industries fell over 2% to the day's low of INR 1,082.10 after the company's consolidated net profit for the March quarter halved on year due to one-time costs. The stock declined after three straight sessions of gains. It gained almost 6% during these three sessions. The volume of the shares traded so far, however, surged almost three-fold from those traded Friday.
The company reported a consolidated net profit of INR 25.97 billion, down almost 51% on year. It was way below the consensus estimate of INR 47.60 billion. Its top line for the quarter rose over 20% on year to INR 781.33 billion, higher than the Street's view of INR 709.27 billion.
Brokerage Emkay Global Financial Services downgraded the stock to 'add' from 'buy' recommendation, but raised its target price by around 9% to INR 1,200. "We expect earnings momentum to remain strong over FY27-29E, supported by elevated Al (aluminium) prices amid worsening global supply tightness, easing Novelis headwinds, and improved backward integration benefits," the brokerage said in its report.
Motilal Oswal increased its estimates on Hindalco for 2026–27 (Apr-Mar) and FY28, factoring in the strong domestic business outlook based on elevated commodity prices, cost savings, and recovery in Novelis' earnings, the brokerage said in its report. It also expects the company's Indian business margins to expand, with the commissioning of downstream capacity, offsetting the near-term cost inflation. The brokerage maintained its 'buy' recommendation on the stock with a target price of INR 1,280.
Yes Securities sees Hindalco's revenue and earnings before interest, tax, depreciation, and amortisation to grow at a compound annual growth rate of 12.0% and 15.3%, respectively, over FY26 to FY28. It has raised its target price by nearly 15% to INR 1,136.
The company's management sees FY27 as an inflection year for Novelis, it said in a post-earnings media call Monday. It also expects double-digit EBITDA growth in downstream aluminium in FY27.
At 1130 IST, shares of Hindalco were 2% lower at INR 1,086.70 on the NSE. So far in the day, nearly 5 million shares of the company have changed hands on the exchange, higher than over 1 million shares traded till the same time Friday.
Of the 11 brokerage recommendations available with Informist on the company, six have a 'hold' recommendation with an average target price of INR 1,045. Of the remaining five, four have a 'buy' call with an average target price of INR 1,186, and one has a 'sell' recommendation. (Arundathi A R)
Equity Alert: OMCs up 4% post hike in retail fuel prices; ONGC, Oil India dn
MUMBAI--1108 IST--Share prices of three major oil marketing companies rose around 4?ter they hiked the retail price of fuel for the fourth time in May in a bid to pass on higher international oil prices to consumers and address mounting underrecoveries. These companies have been hit ever since crude oil prices spiked and remained above $100 a barrel due to the energy shock caused by the West Asia war. Other oil and gas stocks such as GAIL (India), Petronet LNG, Indraprastha Gas, and Mahanagar Gas also traded 3-5% higher.
Earlier in the day, Indian Oil Corp. hiked the retail price of petrol by INR 2.61 a litre to 102.12 in Delhi, data from IOC showed. The state-owned oil marketer increased retail price of diesel by INR 2.71 per litre to INR 95.20 in the capital city. With this, the quantum of hike in retail fuel prices in May is above INR 7 a litre. These prices were kept frozen for more than two months and there were expectations that the government would take a nuanced approach for price hikes, keeping in mind the risks of inflation. This comes amid sharp depreciation in the rupee, which adds to the mounting import bills. At 1135 IST, IOC, Bharat Petroleum Corp., and Hindustan Petroleum Corp. were up 4?ch.
However, Oil and Natural Gas Corp. and Oil India, major oil exporation companies, traded 1-2% lower. Crude oil prices have fallen below the $100 mark amid hopes of free movement through the Strait of Hormuz, with the US and Iran hinting at a peace deal soon. The near-month contract of brent crude oil traded at $97.87 a barrel on the Intercontinental Exchange. (Gopika Balasubramanium)
Equity Alert: Eicher Motors up 6% on strong results, bullish brokerages' views
MUMBAI--1048 IST--Eicher Motors rose nearly 6% to an intraday high of INR 7,388.50 after the company reported strong earnings for the March quarter and as brokerages had a bullish outlook, especially on demand, for the Royal Enfield maker.
For the March quarter, the company reported a consolidated net profit of INR 15.20 billion, an on-year growth of nearly 12% and above the Street's view of INR 14.39 billion. The top line of the company grew nearly 16% on year to INR 60.80 billion, higher than analysts' estimate of INR 59.41 billion.
Sales growth for Royal Enfield is expected to remain strong over 2026-27 (Apr-Mar) to FY28, Nomura said. Dealer surveys indicate that there is strong demand for Royal Enfield and low inventory, which is less than two weeks, it added. Royal Enfield's competitors, like Truimph, operated by Bajaj Auto in India, and Hero MotoCorp-run Harley Davidson, were hit by the 40% hike in goods and services tax for 350 cubic centimeters bikes, the brokerage said. Royal Enfield's launch of its 250 CC bike, which is likely to be in the June quarter of FY28, is expected to drive double-digit growth, Nomura said.
The company is expected to see double-digit growth, led by sustained demand momentum, Elara Capital said. Despite price hikes, Royal Enfield's core portfolio of 350 cc remains below GST 2.0 levels. "Further, capacity expansion at the Chennai plant and Andhra Pradesh is addressing investor concerns regarding RE's (Royal Enfield) inability to meet demand in the medium term and lends us confidence of sustained volume growth," the brokerage said. Elara maintained a "buy" recommendation on the stock and cut the target price over 3% to INR 9,001 due to high raw materials costs.
At 1045 IST, shares of Eicher Motors traded over 5% higher at INR 7,349. Over 791,000 shares of the company changed hands on the NSE, which is over five times higher than the number of shares traded till the same time Friday. (Adhithya Aji)
Equity Alert:Indices rise more on US-Iran peace deal hopes; auto cos up
MUMBAI--1040 IST--Benchmark indices climbed higher during early trade with only five constituents in the Nifty 50 in the negative territory. Indices tracked the gains in their Asian peers as hopes of a peace deal between the US and Iran boosted investor sentiment. Crude oil futures slipped below the $100 per barrel mark for the first time in 11 sessions. At 1037 IST, July futures of Brent Crude oil were at $97.73 per barrel. Automobile and financial institutions were the top gainers in the Nifty 50 index.
At 1037 IST, the Nifty 50 was at 23987.35, up 1.1%, while its peer BSE Sensex was at 76352.02, up 1.2%. Eicher Motors continued to be the top gainer in both the Nifty 50 index. The stock was up over 5?ter the company's consolidated net profit and sales surpassed the Street's view. Brokerage ICICI Securities maintained its "buy" rating on the stock, citing sustaining premium motorcycle demand, expanding international presence, and multiple long-term levers among its rationale for doing so. Peers Maruti Suzuki, Tata Motors Passenger Vehicles, and Mahindra & Mahindra rose 1.5–2.2%.
Shriram Finance was up 3% and led the gains among financial services companies. Peers Jio Financial Services, Bajaj Finserv, and Bajaj Finance were up 1.2–2.2%. Index heavyweights HDFC Bank and ICICI Bank were up nearly 2% and 1%, respectively. Peers Axis Bank, State Bank of India, and Kotak Mahindra Bank rose 1.3–2%.
Max Healthcare Institute, down 1.7%, was the worst-hit stock in the Nifty 50 index. Hindalco Industries also remained in the red zone, down 1.3%, after the company's March quarter bottom line missed the Street's view by a wide margin. The aluminium manufacturer's consolidated net profit for Jan-Mar more than halved on year to INR 25.97 from INR 52.83 billion in the year-ago period. The steep fall was driven by the one-time cost due to the two fire incidents at its Novelis' plant in Oswego in New York, and the flooding incident at its Sierre plant in Switzerland.
In the Nifty 200, shares of Gail India rose 6% and hit their one-month high at INR 170.70 per share. The company is planning a capital expenditure of INR 116 billion for the financial year 2026-27 (Apr-Mar), up from INR 95.94 billion spent in FY26, according to the company's investor presentation. Of the total amount, INR 24.01 billion will be spent on pipelines, INR 19.50 on renewables, and INR 14.86 billion on petrochemicals.
Oil marketing companies Indian Oil Corp., Bharat Petroleum Corp., and Hindustan Petroleum Corp., up around 4?ch, remained among the notable gainers in the Nifty 200. This comes after IOC hiked the retail petrol prices by INR 2.61 to INR 102.12 per litre and diesel prices by INR 2.71 to INR 95.20 per litre.
InfoEdge was the worst-hit stock in both the Nifty 200 and Nifty 500 indices. The stock hit its lowest level since December 2023. For the March quarter, the company witnessed modest growth in recruitment billings due to a slowdown in hiring activities, according to a research report by Nomura. Further, the company's education vertical Siksha fell 13% on year due to the impact of artificial intelligence, the brokerage said. HFCL remained the highest gainer in the Nifty 500 index. The stock was up 9%. (Shruti Nair)
Equity Alert: Mkts open up on US-Iran peace pact hopes, easing crude prices
MUMBAI--0943 IST--Benchmark indices opened sharply higher on renewed hopes of a peace deal between the US-Iran and the easing of crude oil to below $100 per barrel. The July futures of Brent crude oil were nearly 6% lower at $97.58. Asian markets opened higher and broader market indices were in the green as well.
At 0942 IST, the Nifty 50 was at 23935.95, up 216.65 points or 0.9%, and the BSE Sensex was at 76168.79, up 753.44 points or 1%. Eicher Motors was the top gainer among the Nifty 50 constituents, and was up nearly 5%. The Royal Enfield owner's consolidated net profit for the March quarter was above analysts' estimate. Eicher Motors was the top gainer in the Nifty 200 index as well.
Financial services companies – Shriram Finance, Bajaj Finance, Bajaj Finserv, Kotak Mahindra Bank, SBI Life Inusrance Co., and Jio Financial Services rose around 1-3%. Banking heavyweight stocks HDFC Bank and ICICI Bank gained 2% and 1% respectively. Automobile companies Bajaj Auto, Mahindra & Mahindra, Tata Motors Passenger Vehicles, and Maruti Suzuki India rose around 2-3%.
On the other hand, Hindalco Industries was the worst hit among the Nifty 50. The metal company's March quarter bottom line was hit by one-time costs. Sun Pharmaceutical Industries and Oil and Natural Gas Corp. fell nearly 1?ch. Max Healthcare Institute, Grasim Industries, and NTPC were down 0.1-0.5%.
All the broader market indices rose, the Nifty Midcap indices gained 0.7?ch, and the Nifty Smallcap indices were up over 1?ch. All the sectoral indices were positive as well. Nifty Auto was the top gainer among them, and was up over 2%.
Oil marketing companies – Hindustan Petroleum Corp., Bharat Petroleum Corp., and Indian Oil Corp. gained around 4?ch after IOC hiked retail petrol prices by INR 2.61 to INR 102.12 per litre and diesel prices by INR 2.71 to INR 95.20 per litre in Delhi.
Info Edge was the worst hit among the Nifty 200 constituents, down nearly 4%. Hindalco Industries and Oil India were down over 2?ch. In the Nifty 500, HFCl was the top gainer, up over 8%. Jubilant Pharmova was the worst hit in the Nifty 500, down nearly 5%. The company's consolidated net profit for Jan-Mar fell over 22% on year. (Adhithya Aji)
Equity Alert: Sundaram Finance slightly down ahead of Q4 results
MUMBAI--0945 IST--Shares of Sundaram Finance were slightly down ahead of the company's March quarter earnings, due later in the day. The company is expected to report a year-on-year a fall in net profit for the March quarter due to moderate growth resulting from concentration in south Indian markets, limiting geographic diversification benefit, according to Nirmal Bang Equities Pvt. Ltd.
The company is expected to post a 7% on year fall in its net profit to INR 5.08 billion for the March quarter, according to Nirmal Bang Equities Pvt. Ltd. Its net interest income is expected to grow nearly 20% to INR 8 billion, according to Nirmal Bang.
On the other hand, Prabhudas Lilladher Pvt. Ltd. expects the net profit to fall nearly 12% on year to INR 4.82 billion for the March quarter, as the West Asia war is likely to negatively impact the profit. Its net interest income is expected to grow over 15% to INR 7.71 billion.
Both brokerages expect the disruption in the micro, small, and medium enterprises ecosystem caused by the war in West Asia to affect the asset quality of the company. Its assets under management are expected to grow 17% to INR 602.51 billion year on year for the reporting quarter, according to Prabhudas Lilladher.
For the December quarter, Sundaram Finance's net profit was INR 4.03 billion on revenue of INR 19.11 billion. At 0937 IST, shares of the company were 0.2% lower at INR 4,485 on the NSE. Out of two brokerage recommendations that Informist has on the company, both have a "hold" recommendation with an average target price INR 5,660 per share. (Suryash Kumar)
Equity Alert: May open higher on US-Iran deal hopes, oil price at $99/bbl
MUMBAI--0825 IST--Benchmark equity indices may open higher Monday on hopes of a potential US-Iran peace deal and a fall in crude oil prices to $99 a barrel. The indices are expected to track early gains in Asian markets as well, with Taiwan's TAIEX gaining the most at 3%. All the three major US indices also closed higher Friday.
US President Donald Trump said a memorandum of understanding on an agreement with Iran has been "largely negotiated" and would reopen the Strait of Hormuz, the vital oil chokepoint closed since the US and Israel launched their war in February, Al Jazeera reported. Pakistan Prime Minister Shehbaz Sharif said the next round of negotiations between the US and Iran will happen "very soon," according to Al Jazeera's report. Trump had also instructed negotiators "not to rush into a deal" with Iran and said the US blockade on Iranian ships in the Strait of Hormuz would "remain in full force and effect until an agreement is reached, certified, and signed," according to news reports. At 0805 IST, the July futures contract of Brent crude was over 4% lower from its previous close at $99.00 a barrel.
At 0821 IST, the June futures contract of the GIFT Nifty was nearly 1% higher at 23969.50 from its previous close. This was 250 points higher from the Nifty 50's previous close of 23719.30. The May futures contract of GIFT Nifty was also almost 1% higher at 23939 from its previous close and was over 210 points higher from Friday's close of the Nifty 50.
"The Nifty 50 is expected to face resistance at 24000–24100 levels and find support at 23650 levels in Monday's session," Ruchit Jain, technical research head at Motilal Oswal, said. The Indian rupee settled at 95.69 a dollar Friday.
Indian Oil Corp. Monday hiked the retail price of petrol by INR 2.61 to INR 102.12 per litre in Delhi. It raised diesel prices by INR 2.71 to INR 95.20 per litre.
Nifty 50 stock NTPC detailed its March quarter earnings Saturday. The company posted its net profit growth for the period at the highest pace in 20 quarters despite the revenue from operations falling for the fourth straight quarter. NTPC reported an over 51% growth in its bottom line for the March quarter to INR 87.47 billion. Of this, the company received a tax write-back of INR 87.37 billion. Its top line was at INR 431.11 billion, down nearly 2% on year.
Friday post market hours, Eicher Motors and Hindalco Industries detailed their March quarter earnings. Eicher reported a consolidated net profit of INR 15.20 billion, up nearly 12% on year, for the March quarter. Its top line stood at INR 60.80 billion, up 16% on year. Both metrics beat the Street's view. Hindalco's consolidated profit for the March quarter halved on year due to the impact of a one-time cost of INR 41.71 billion. Its net profit declined almost 51% on year to INR 25.97 billion, and revenue from operations rose over 20% on year to INR 781.33 billion. (Arundathi A R)
Equity Alert: Asian markets rise on renewed hopes of peace between US, Iran
MUMBAI--0814 IST--Stock indices in Asia climbed higher Monday as signs of a peace deal between the US and Iran improved. US President Donlad Trump said over the weekend that an agreement was "largely negotiated". Brent Crude oil futures slipped below $100 per barrel after 10 sessions and hovered around 4% lower near $99 per barrel levels. Iran, however, did not confirm the progress in talks.
"I have informed my representatives not to rush into a deal in that time is on our side. The Blockade will remain in full force and effect until an agreement is reached, certified, and signed. Both sides must take their time and get it right," Trump said in a post on Truth Social.
Indices in Japan outperformed the other markets in the region. The benchmark Nikkei 225 touched a new all-time-high and breached the 65000 mark for the first time. Shares of heavyweights Advantest Corp. and Softbank Group Corp. were 4% and 6% higher, respectively. The broader market TOPIX was up 1.2%. the Japanese yen also appreciated slightly against the US dollar. It appreciated 0.3% to 158.6920 Monday.
Australia's S&P ASX 200 and the FTSE Singapore Strait Times advanced for the third consecutive session. China's CSI 300 and the SSE Composite indices also gained. Meanwhile, markets in South Korea and Hong Kong's are closed Monday on account of Buddha's birthday.
The following were the levels of major Asian indices at 0814 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4890.4272 | 0.94 |
| Nikkei 225 Day | 65110.79 | 2.80 |
| TOPIX FIRST SECTION | 3937.28 | 1.15 |
| FTSE Singapore Strait Times | 5096.85 | 0.57 |
| S&P/ASX 200 Index | 8711.00 | 0.62 |
(Ruchira Kagita)
Equity Alert: US futures climb as US-Iran peace deal prospects improve
MUMBAI--0740 IST--US futures climbed Monday as the prospects of a peace deal between the US and Iran improved. US President Donald Trump said over the weekend that an agreement with Iran was "largely negotiated" and that the Strait of Hormuz will be opened soon. At 0726 IST, the E-mini Dow futures were higher by almost 1%. Brent crude oil futures slipped below $100 per barrel, down over 6% from the previous trading session's highs.
"An Agreement has been largely negotiated, subject to finalization between the United States of America, the Islamic Republic of Iran, and the various other Countries, as listed. Separately, I had a call with Prime Minister Bibi Netanyahu, of Israel, which, likewise, went very well," Trump said in a post on Truth Social. "If I make a deal with Iran, it will be a good and proper one," he said in another post, while adding that is yet to be finalised.
"Notwithstanding all the caveats and risks that remain to the peace deal and Strait of Hormuz, there is now some light at the end of the tunnel, which will bring some near-term oil price relief," Saul Kavonic, an analyst at MST Marquee, told Reuters.
On Friday, all the three major US indices ended in positive territory, with the Dow Jones Industrial Average notching a fresh record high of 50830.24 points. For the week, the index was 2% up. On a weekly basis, the S&P 500 gained for the eighth consecutive week. Technology stocks supported the gains. Shares of Qualcomm closed almost 12% higher, and Advanced Micro Devices was 4% up.
In other news, Kevin Warsh was sworn in as the chairman of the Federal Reserve. Given the economic fragility due to the war in West Asia, Warsh is likely to be faced with significant inflationary pressure. Expectations of a rate cut have reduced, and those of an interest rate hike have increased. "I really mean this, I want Kevin to be totally independent. Don't look at me, don't look at anybody, just do your own thing and do a great job," Trump said at the swearing-in ceremony, the BBC reported.
Following were the closing levels of major US indices on Friday:
|
US Indices |
Levels |
Change in % |
|
Dow Jones Industrial Average |
50579.70 | 0.58 |
|
NASDAQ Composite |
26343.97 | 0.19 |
|
S&P 500 |
7473.47 | 0.37 |
(Ruchira Kagita)
US$1 = INR 95.32
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta
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