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Informist, Thursday, Jul. 9, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Emkay Global downgrades Rainbow Children's to 'add' from 'buy'

 

MUMBAI--0850 IST--Emkay Global Financial Services downgraded Rainbow Children's Hospital to 'add' from 'buy' while keeping its target price unchanged at INR 1,550. This target implies an upside of over 8% from the stock's closing price of INR 1431,10 Wednesday. The company's revenue is seen increasing 17?tween 2026-27 (Apr-Mar) and FY29, which is less than the 20% growth pencilled in for the hospitals in its coverage, the brokerage said.

 

Further, the ramp-up of the hospital network's new facilities is likely to weigh on its earnings before interest, taxes, depreciation, and amortisation margins through FY28-29. Rainbow Children's margin is estimated to contract by 378 basis points over FY26-29. Increasing competition in the pediatric segment also poses near-term challenges for the company, Emkay Global said.

 

For the June quarter, the hospital company's revenues are expected to grow 23% on year, according to Emkay Global. This growth will be supported by increased volumes across the chain's new and mature facilities. The company's profit is seen rising 18% on year to INR 634 million. However, its EBITDA margin is likely to lag top-line growth, the brokerage said, citing initial losses at new Bengaluru units and elevated employee costs from additions to senior management. Its margin is estimated to decline 77 bps for the three months ended June.

 

For the March quarter, Rainbow Children's reported a consolidated net profit of INR 770.43 million on revenues of INR 4.60 billion. Wednesday, the company's shares closed 0.6% higher at INR 1,431.10.  (Ruchira Kagita)

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Equity Alert: Asian markets open mixed, Kospi up almost 3%

 

MUMBAI--0830 IST--Asian Indices opened mix Thursday with South Korea's Kospi leading the gains. US President Donald Trump said he was no longer interested in negotiating a deal with Iran and that the interim peace deal was "over" after another wave of attacks in the West Asia.

 

South Korea's Kopsi rose 2.8% driven by a rise in Samsung Electronics and a SK Hynix after falling sharply the day before as investors raised concern about long-term prospects of AI chipmakers. Hong Kong's Hang Seng fell slightly. Meanwhile, Japan's Nikkei was up 2% and Topix First Section and FTSE Singapore Strait Times were slightly up. 

 

China's CSI 300 was marginally up despite the 5?ll in Luxshare Precision Industry. Meanwhile, China's Producer Price Index rose 4.1% on year, the highest since July 2022, the National Bureau of Statistics data showed, matching the forecast of a Reuters poll. 

 

Austrailia's S&P/ASX 200 was down less than 1%. 

 

Following are the levels of key indices in the region at 0734 IST:

 

Index	Level	Change in %
Nikkei 225 Day	68177.5	2.03
TOPIX FIRST SECTION	4023.94	0.44
S&P/ASX 200 Index	8730.2	(-)0.62
KOSPI Index	7449.67	2.80
Hang Seng Index	24141.31	(-)0.24
CSI 300 Index	4771.77	0.34
FTSE Singapore Strait Times	5397.2	0.51

 

(Deesha Jadhav)

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Equity Alert: Indices seen under pressure amid renewed West Asia tensions

 

MUMBAI--0810 IST--Benchmark equity indices are expected to be under selling pressure at the open amid a fresh escalation in West Asia, as the US struck Iran for the second straight day. The US launched strikes against Iran late Wednesday. The US called these additional strikes an attempt to degrade their ability to threaten freedom of navigation in the Strait of Hormuz. This comes after the US President Donald Trump ended the truce with Iran on Wednesday afternoon, saying the memorandum of understanding signed with Tehran is "over" in an address in Turkiye.

 

The near-term market sentiment is negative, with rising crude oil prices and uncertainty about whether both the US and Iran will reach a peace deal. While analysts do not expect the situation in West Asia to worsen as much as it did in Mar-Apr, the uncertainty about how things will pan out from here will keep investors from taking large bets. With these fresh escalations in West Asia, crude oil prices shot up to $80 a barrel on Wednesday. At 0728 IST, the September futures contract of Brent crude oil on the Intercontinental Exchange was at $78.7 a barrel, up around 1%. 

 

"Technically, the Nifty 50 index has reached an important price support at 23,800 (points), but a decisive fall below this level may drag it towards 23600-23400 in the near term," Vipin Kumaar, assistant vice president – technical and derivatives at Globe Capital Market, said. "On the higher side, 24200-24250 (points) will act as immediate resistance," he said. At 0727 IST, the July contract of GIFT NIFTY was at 23970.50, up 31.50 points or 0.1%.

 

Thursday, investors would also focus on the June-quarter earnings of Tata Consultancy Services due later in the day. The company is expected to report a marginal sequential decline in its consolidated bottom line owing to annual salary hikes rolled out across the organisation from Apr. 1. However, its revenue for the quarter is expected to rise slightly, with the depreciation of the rupee against the dollar. Shares of the company ended 1.8% lower Wednesday at INR 2,057.50 on the National Stock Exchange. (Gopika Balasubramanium)

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Equity Alert: US markets close flat; Trump says US-Iran interim deal "over"

 

MUMBAI--0701 IST--US Indices closed flat Wednesday as investor sentiment was affected by renewed US-Iran tensions and a jump in oil prices. US President Donald Trump said he was no longer interested in negotiating a deal with Iran and that the interim deal was "over" after another wave of attacks in the West Asia.  

 

The Dow Jones Industrial Average and the S&P 500 both ended slightly down. Microsoft and Alphabet each fell more than 1% and Meta Platforms lost 2% while SpaceX was down less than 1%. The Nasdaq Composite was marginally up, supported by a rally in Broadcom after it said that its agreement with Apple for supplying chips will be worth more than $30 billion.

 

Uncertainty regarding inflation due to rising energy costs created nervousness about rates hikes among investors. The minutes from the Fed'S June meeting revealed that Fed officials were reluctant to cut rates until they see inflation moving sustainably towards its target. Investors await the weekly jobless claims report and home sales data, both due later in the day, as well as Pepsico's earnings. 

 

"Any assumption of a swift return to normalized Persian Gulf exports is certainly being challenged," said Mason Mendez, global real assets analyst at Wells Fargo Investment Institute, as per a CNBC report. "Given the reduced supply buffer of already low global reserves and inventories, any further escalations are likely to re-enforce a higher geopolitical risk premium in oil prices--even when negotiations eventually resume."

 

Following were the closing levels of major US indices Wednesday:

 

Index	Level	Change in %
Dow Jones Industrial Average	52348.39	(-)1.09
NASDAQ Composite	25870.65	0.20
S&P 500	7482.71	(-)0.28

 

(Deesha Jadhav)

 

US$1 = INR 95.55

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Saji George Titus

 

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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