Equity Alert
Sugar cos up as select ethanol-blended petrol exempted from duty
This story was originally published at 12:57 IST on 11 June 2026
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Equity Alert: Sugar cos up as select ethanol blended petrol exempted from duty
MUMBAI--1215 IST--Shares of sugar manufacturing companies rose Thursday after the central government exempted from excise duty petrol blended with 22-30% ethanol, extending support to blends beyond the currently existing E20.
Ethanol is a renewable biofuel produced by fermenting sugars. At 1211 IST, shares of Balrampur Chini Mills, Triveni Engineering & Industries, and Dhampur Sugar Mills traded 1–3% higher. Shares of Shree Renuka Sugars traded in the green, after giving up most of its intraday gains on likely profit booking.
According to the finance ministry's notification, E22 fuel will comprise 78% petrol and 22% ethanol, while E25, E27 and E30 fuels will contain 25%, 27% and 30% ethanol, respectively. The exemptions apply to the appropriate duties of excise that have been paid on motor spirit and applicable goods and services tax paid on ethanol used in the blend.
On Apr. 28, the Ministry of Road Transport and Highways had issued a notification proposing amendments to the Central Motor Vehicles Rules to include higher ethanol blends such as E85 and E100, as well as biodiesel and hydrogen blended gas. E85 is 85% ethanol blended with petrol, E100 is pure ethanol used in flex-fuel vehicles. (Eshitva Prakash)
Equity Alert: IT cos down on Anthropic's new AI-model launch; Nifty IT dn 2%
MUMBAI--1110 IST--Shares of information technology companies tumbled Thursday as analysts expect Claude Fable 5, a newly launched artificial intelligence model by Anthropic, to pose risk to Indian IT service companies. The Nifty IT index was pulled down as the worst performing sectoral index, down nearly 2%. All constituents of the sectoral index traded lower, with LTM falling the most at 3%.
"Capability (of AI models) has improved drastically, which has become better at software development," Sumit Pokharna, IT analyst at Kotak Securities, said. "This has increased the risk that Indian IT services jobs, especially application development and maintenance, will get done by fewer human beings or engineers in the future." This is expected to disrupt the existing models of Indian IT services companies, he said.
According to Pokharna, Indian IT companies which have a higher exposure to application development will face the biggest risk. The companies like Infosys, Persistent Systems, and many midcap IT services firms are at risk. In contrast, HCL Technologies carries lesser risk as its revenue mix is more diversified, he said.
In another development, TCS Thursday announced a partnership with Anthropic to help customers scale enterprise AI adoption. The companies plan to jointly offer AI solutions for highly regulated sectors such as financial services, public services, life sciences, healthcare, aviation, telecom, and medtech, the company said in an exchange filing.
At 1109 IST, HCL Technologies, Infosys, Mphasis, Oracle Financial Services, Tech Mahindra, Persistent Systems, Wipro, Coforge, and Tata Consultancy Services were down 2.4–0.5%. (Arundathi A R)
Equity Alert: Indices come off lows; Bks, pharma stocks gain, IT cos lag
MUMBAI--1050 IST--Benchmark indices came off earlier lows but remained in the negative territory as crude oil prices hovered around $94 per barrel. At 1029 IST, August futures of Brent Crude oil were at $94.07 per barrel, up 3.6% from Wednesday's low of $90.77 per barrel after the US launched fresh strikes on Iran. More than half of the Nifty 50 constituents were in the red, with information technology stocks being the main laggards.
Both the Nifty 50 and BSE Sensex pared some of their post-open losses but were down 0.1?ch at 23187.50 and 73906.96, respectively. Broader market indices were mixed, with the Nifty mid-cap indices mirroring the losses in their benchmark peers, down 0.1-0.2%, while Nifty small-cap indices were up 0.1-0.5%.
IT stocks were among the main laggards with HCL Technologies, down 2.7%, being the worst performer in the Nifty 50 index. Its peers, Tech Mahindra, Tata Consultancy Services, and Infosys, fell 0.9–2.2%. Similarly, mid-cap players, Oracle Financial Services, LTM, and Mphasis were down around 1–3% and lagged in the Nifty 200 index. The Nifty IT index, down 1.7%, was the worst hit among sectoral indices. The index was down for the seventh straight session during which it shed nearly 11%.
Index heavyweight ICICI Bank, up 2.1%, was the top gainer in the Nifty 50 index. Peers Kotak Mahindra Bank and Axis Bank were up 0.5–0.6%. Select state-owned energy companies also rose, with Power Grid Corp. of India and Oil and Natural Gas. Corp. up 0.4% and 0.9%, respectively.
Pharmaceutical players also saw gains in the Nifty 50 index, with Dr. Reddy's Laboratories, Cipla, and Sun Pharmaceutical Industries climbing 0.4–0.5%. Peers Aurobindo Pharma, Laurus Labs, and Torrent Pharmaceuticals rose 1% and 2.2%, respectively, and were among the notable gainers in Nifty 200 index. Wockhardt rose 5.5% and was among the best performers in the Nifty 500 index. Chairman Habil Khorakiwala said the company had completed phase-I trials of its new antibiotic injection WCK 6777 in the US. (Shruti Nair)
Equity Alert: Zee Entertainment up 5%; volume surges three times intraday
MUMBAI--1035 IST--Shares of Zee Entertainment Enterprises rose nearly 5% to an intraday high of INR 107.80 on the NSE. The volume traded so far in the day surged nearly three times compared to the same time Wednesday. The stock move comes after the broadcaster Wednesday said it will raise INR 23 billion in one or more tranches to fund its business initiatives.
Zee Entertainment has particularly been in focus since May 26 when the company said it was in talks with the Federation Internationale de Football Association to broadcast the FIFA World Cup 2026 matches in India. Since then, the stock has risen over 30%. Zee Entertainment confirmed its partnership with FIFA on Jun. 1.
The stock, however, saw some selling pressure the first three days of this week and fell over 8% during this period. At 1019 IST, shares of Zee Entertainment were more than 3% higher at INR 106.20. So far in the day, over 45 million shares of the company have changed hands on the exchange.
Of the seven brokerage recommendations available with Informist on the company, five have a "buy" recommendation with an average target price of INR 119. Of the remaining two, one has a "sell" recommendation and the other has a "hold" recommendation on the stock. (Ruchira Kagita)
Equity Alert: Mkts open lower as W Asia war escalates, oil rises near $95/bbl
MUMBAI--0938 IST--Benchmark indices opened lower as the West Asia war escalated further, with the US launching fresh strikes on Iran. Washington said that these strikes were in response to Iran's unwarranted and continued aggression. The August futures of Brent crude oil were nearly 2% higher at $94.64 per barrel. At 0936 IST, the Nifty 50 was at 23102.10, down 112.85 points or 0.5%, and the BSE Sensex was at 73591.48, down 391.70 points or 0.5%.
State-owned energy players Oil and Natural Gas Corp. and Power Grid Corp. of India gained around 1?ch and were among top gainers in the Nifty 50. Power Grid Corp. of India's board approved to avail of an unsecured term loan of 80 billion yen from Japan Bank of International Cooperation. Tata Consumer Products and the heavyweight banking stock ICICI Bank rose nearly 1?ch as well.
On other hand, information technology companies were worst hit in the index. HCL Technologies, Infosys, Tech Mahindra, Tata Consultancy Services, and Wipro fell 1–3%. Automobile companies Eicher Motors, Tata Motors Passenger Vehicles, Mahindra & Mahindra fell 1-2%. Eternal, Trent, UltraTech Cement, Titan Co., and Hindalco Industries fell 1-2%. The heavyweight banking stock HDFC Bank was down nearly 1%.
Nifty Media, Nifty Pharma, and Nifty Healthcare were the only sectoral indices in the green, and they rose 0.4-0.6%. Nifty IT was the worst hit sectoral index, down over 2%. All the broader market indices also mirrored the losses in their benchmark peers. The Nifty Smallcap indices fell 0.3–0.5%, and the Nifty Midcap indices fell 0.5?ch.
Siemens Energy India was the top gainer in the Nifty 200, up nearly 2%. Vedanta, Torrent Pharmaceuticals, and Multi Commodity Exchange gained over 1?ch in the index. On other hand, Oracle Financial Services fell over 3% and was the major laggard in the Nifty 200. IT companies Persistent Systems and HCL Technologies fell around 2?ch. In the Nifty 500, Blue Jet Healthcare rose over 8% and was the top gainer, while Jain Resource Recycling fell nearly 6% and was the worst hit. (Adhithya Aji)
Equity Alert: Seen lower on fresh escalation in W Asia war, higher oil price
MUMBAI--0830 IST--Domestic equity indices are expected to open lower Thursday on fresh attacks between the US and Iran in West Asia. US President Donald Trump warned of more attacks on Iran if no peace deal is reached soon. Crude oil prices also surged to $94 a barrel from Wednesday's low of $90 a barrel. Asian equity indices fell in early trade amid the escalation of the war in West Asia.
According to media reports, the US launched new strikes against multiple targets overnight in Iran. The US military's Central Command announced the strikes were completed about four hours after they began, shortly after midnight in Tehran, Reuters reported. "The strikes are in response to Iran's unwarranted and continued aggression," Reuters reported, citing Central Command.
Trump Wednesday told Fox News the strikes would stop shortly but that he would "bomb the shit out of them" if Iran's leaders did not sign an agreement with the US immediately, Reuters reported. Wednesday, Trump warned the military is preparing to strike again, claiming, "They've taken too long to negotiate a deal that would have been great for them; now they will have to pay the price."
At 0734 IST, Brent crude oil August futures contract was over 1% higher at $94.40 a barrel. Trump told reporters Wednesday that he "loved" inflation when asked about the US government's consumer inflation data for May, Reuters reported. "When it's over, you will see oil drop to where it was before," Trump said. "It's coming down. It's going to come down like a rock," Reuters said, citing Trump.
At 0803 IST, the GIFT Nifty June futures contract was marginally lower at 23049.50. This was 165 points lower than the Nifty 50's previous close of 23214.95. "Technically, the Nifty index has been going through a consolidation range (23000-23500 spot levels)," Vipin Kumar, technical and derivatives analyst at Globe Capital Market, said. "A decisive close below 23000 spot levels could drag the index towards 22700 and lower levels in the immediate near term. Conversely, sustained trading above 23500 spot levels could lead it towards a sustainable recovery."
Among Asian markets, South Korea's KOSPI logged a nearly 2% loss in early trade. Taiex, Topix First Section, and Hang Seng Index were down over 1?ch. In the US market, all three major indices settled almost 2% lower each on Wednesday. (Arundathi A R)
Equity Alert: Asian mkts fall as West Asia war escalates, crude prices rise
MUMBAI--0812 IST--Indices in Asia were lower Thursday as sentiment remained weak amid a sharp sell-off in major US indices overnight and Brent crude oil futures climbing more than 4% from Wednesday's lows to around $95 per barrel. Crude oil prices went up amid the escalation of the war in West Asia. South Korea's KOSPI fell the most among regional peers in the early hours of trade, down nearly 2%.
"CENTCOM (US Central Command) forces launched strikes on Iranian military surveillance capabilities, communication systems, and air defense sites across Iran," the US Central Command said in a statement. The US military struck in self-defence and in response to "Iran's unwarranted and continued aggression," it said.
In Japan, shares of heavyweights SoftBank Group Corp. were down 4%, and those of Advantest Corp. were down over 2%. Some other important technology and electronics stocks attempted to recover some of their losses. Tokyo Electron was up 0.4% and Murata Manufacturing Co. was up 0.3%. Shares of silicon wafer maker Shin-Etsu Chemical Co. were down 0.6%. In South Korea, shares of KOSPI heavyweight Samsung Electronics Co. fell 2%.
"Given already stretched valuations, these extreme bullish expectations set a vulnerable backdrop for momentum in Korea, Taiwan and the Asia tech sector," Reuters quoted Rupal Agarwal, Asia quant strategist at Bernstein, as saying in a note to clients. The KOSPI has risen over 15% since the end of April, and Taiwan's key TAIEX index has risen by almost 10%.
The following were the levels of major Asian indices at 0817 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4715.5796 | (-)0.70 |
| Hang Seng Index | 24050.99 | (-)1.46 |
| Nikkei 225 Day | 63328.54 | (-)1.33 |
| TOPIX FIRST SECTION | 3788.46 | (-)1.54 |
| KOSPI | 7583.66 | (-)1.90 |
| FTSE Singapore Strait Times | 4931.10 | (-)0.56 |
| S&P/ASX 200 Index | 8602.80 | (-)0.58 |
(Ruchira Kagita)
Equity Alert: US mkts end sharply lower Wed as sell-off in tech cos continues
MUMBAI--0745 IST--Headline indices in the US ended sharply lower Wednesday, falling for the second trading day in a row. The Dow Jones Industrial Average, the S&P 500, and the NASDAQ Composite were down nearly 2?ch. The sell-off in technology stocks continued. The Dow Jones, down by almost 1,000 points, closed below the 50000 mark for the first time after 14 sessions. The large-cap index was dragged down mainly by Caterpillar which fell 6%, Honeywell International fell 5%, and Goldman Sachs Group 3%.
Among technology stocks, Broadcom fell almost 6%, Qualcomm 7%, Advanced Micro Devices and Micron Technology fell nearly 5?ch. Super Micro Computer tumbled a whopping 28?ter the company said it planned to raise $7 billion through equity-linked means to meet the rising demand for its servers and storage systems. Shares of chipmaker Nvidia Corp. and those of Elon-Musk-led Tesla also fell close to 4%. The Philadelphia Semiconductor Index fell almost 4% Wednesday. The S&P 500 Information Technology, one of the 11 key sectoral indices, fell over 2%.
Meanwhile, US consumer prices for May rose 4.2% on year in May, as against a 3.8% rise in April. This was the steepest increase seen in inflation since April 2023 when inflation went up 4.9% on year. Retail inflation was driven higher due to elevated energy prices. Energy inflation went up 23.5% on an annualised basis, a level unseen since 2022 when global energy prices suffered due to the war between Russia and Ukraine. The core inflation, which excludes food and energy prices, increased 2.9% year-on-year in May after rising 2.8% in April.
"With core measures suggesting more limited price increases and much of the upside coming from oil directly (energy) or indirectly (airfares), today's (Wednesday) release suggests that inflationary pressures stemming from the oil price shock have remained manageable for the US economy so far," Barron's quoted Josh Jamner, senior investment strategy analyst at ClearBridge Investments as saying.
The following were the closing levels of major US indices on Wednesday:
|
US Indices |
Levels |
Change in % |
|
Dow Jones Industrial Average |
49918.78 | (-)1.87 |
|
NASDAQ Composite |
25169.501 | (-)1.98 |
|
S&P 500 |
7266.99 | (-)1.62 |
(Ruchira Kagita)
US$1 = INR 95.69
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Deepshikha Bhardwaj
All prices from National Stock Exchange, unless otherwise specified.
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