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Informist, Friday, Jul. 24, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Zen Tech down over 2% ahead of Apr-Jun earnings on Saturday

 

MUMBAI--1039 IST--Shares of Zen Technologies fell over 2% ahead of the company's June quarter earnings announcement on Saturday. Weak margins are likely to weigh on Zen Technologies' net profit for the quarter.

 

ICICI Securities Ltd. expects the company's consolidated net profit for the June quarter to rise more than 14% to INR 546 million, while Elara Securities Pvt. Ltd. projects the profit to rise nearly 10% on quarter to INR 524 million. The company had reported a net profit of INR 478 million in the year-ago quarter.

 

The defence equipment maker's net sales are expected to grow 4% in the June quarter. Elara Securities expects the company to report net sales of INR 1.66 billion for the June quarter, while ICICI Securities expects net sales at 1.63 billion. The company's net sales were INR 1.58 billion in the year-ago quarter.

 

The company's earnings before interest, tax, depreciation, and amortisation are expected to fall 27% to INR 629 million in the June quarter. ICICI expects the EBITDA to fall 25% to INR 648 million, while Elara Securities expects the EBITDA to fall over 29% to INR 610 million. The company had reported an EBITDA of INR 865 million in the year-ago quarter. 

 

Investors will watch out for large-ticket orders from the government after the Defence Acquisition Council cleared proposals worth INR 6.8 trillion in 2025-26 (Apr-Mar). Specifically, orders for Zen Tech's micro missile launcher and anti-drone surveillance systems will be the key drivers for the company's performance in this quarter, ICICI Securities said.

 

Of the five brokerage reports on the company available with Informist, three have a "buy" recommendation on the stock with an average target price of INR 1,883 per share. This is 7% higher than the stock's market price at 1038 IST. Two brokerages have a "hold" call with a target price of INR 1,400.  (Upasika Singhal)

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Equity Alert: Indices down for fifth session as oil prices jump to $101/bbl

 

MUMBAI--0935 IST--The domestic equity market started the week's last trading day on a negative note as benchmark indices opened significantly lower Friday. The indices extended their losses for a fifth straight session as Brent crude oil prices jumped to $101 a barrel, the highest level in nine weeks with the conflict in West Asia escalating. Oil prices surged significantly after Yemen's Houthis targeted two Saudi oil tankers in the Red Sea and US President Donald Trump threatened more military attacks on Iran.

 

At 0927 IST, the Nifty 50 was at 23700.80, down 168.80 points or 0.7%. The BSE Sensex was at 75797.02, down 594.37 points or 0.8%. The 50-stock index shed nearly 3% in a week. The escalation of the West Asia war and the consequent jump in oil prices led to greater nervousness among investors – India VIX, the volatility index, rose nearly 6% to 14.2450 points.

 

Broader market indices were also hit in the same measure as their benchmark peers. All indices in the broader market were down around 1?ch. Barring the Nifty IT, all sectoral indices slipped into the red in early trade. Only eight Nifty 50 constituents were higher, half of them being information technology stocks.

 

Shriram Finance was the top drag in the 50-stock index, down nearly 3%. The company will announce its June quarter results later in the day. InterGlobe Aviation and Eternal traded over 2% lower each. Swiggy was the biggest drag in the Nifty 200 index, down over 7%.

 

On the other hand, Cipla was the biggest gainer in the Nifty 50 index, up 2.5%. IT stocks HCL Technologies, Tech Mahindra, and Tata Consultancy Services gained 0.1–1.0%.  (Arundathi A R)

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Equity Alert: To open lower for 5th session; crude oil at nine-week high

 

MUMBAI--0900 IST--Domestic equity indices are likely to open lower for a fifth straight session as Brent Crude oil prices rose significantly to $101 a barrel, the highest level touched in nine weeks as the conflict in West Asia escalated. Oil prices surged significantly after Yemen's Houthis targeted two Saudi oil tankers in the Red Sea and US President Donald Trump threatened more military attacks on Iran.The September futures contract of Brent crude oil early Friday was $100.03 a barrel, over 37% higher than its pre-war levels.

 

The July contract of the GIFT Nifty suggested a lower opening for the market Friday. At 0902 IST, the GIFT Nifty was 0.1% lower at 23660.50 from Wednesday. This was down nearly 200 points from the Nifty 50's Thursday close. "Going ahead, a decisive breakdown below the 23800–23780 spot zone could trigger a further slide toward 23600–23500 levels," Vipin said. "Conversely, sustained trading above 24000 could push it back to 24,260 spot levels."

 

Index heavyweight HDFC Bank will be tracked Friday as the bank's American Depository Receipts fell 5?ter US law firm Glancy Prongay & Rotter LLP launched an investigation into the bank to determine whether the lender violated US federal securities laws following allegations regarding internal payments. The law firm is examining whether HDFC Bank made materially misleading disclosures to investors or otherwise breached US securities laws, Mint reported. Shares of the bank ended down nearly 1% Thursday. 

 

Shares of information technology giant Infosys will be in the spotlight Friday as the company announced its corporate results for the June quarter Thursday post market hours. The company missed market expectations for its June quarter revenue in constant currency terms. The sequential decline of nearly 9% in its bottom line, was the second-worst sequential performance in eight quarters.

 

Infosys' consolidated net profit fell 8.6% sequentially to INR 77.69 billion in the June quarter, missing analysts' estimate of INR 78.67 billion. The company's consolidated revenue increased 3.9% on quarter to INR 482.11 billion, which was also slightly below the Street view of INR 484.45 billion.

 

InterGlobe Aviation posted a net loss for the second consecutive quarter at INR 3.82 billion as rising aviation turbine fuel prices, the sharp depreciation of the rupee against the dollar, and the war in West Asia weighed on its profitability in the June quarter. The Street estimated the company to report a profit of INR 12.30 billion.

 

Tata Consumer Products, Shriram Finance, SBI Life Insurance, and NTPC will detail their June quarter results later in the day. Tata Consumer's consolidated bottom line is expected to rise nearly 23% on year but decline 1.56% sequentially to INR 4.10 billion. Shriram Finance is expected to post a net interest income of INR 72.42 billion in the June quarter, up 25.5% on year. Its net profit is estimated at INR 30.52 billion, up 41.6% from the corresponding quarter year ago. Analysts expect NTPC to report a net profit of over INR 51 billion for the reporting quarter, up nearly 7% on year.

 

All Asian equity indices were lower in early trade, with South Korea's KOSPI, down over 4%, shedding the most. All three major US indices closed lower Thursday after earnings of major technology companies raised concerns about heavy spending on artificial intelligence.  (Arundathi A R)

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Equity Alert: Technology stocks, high crude oil drag Asian indices lower

 

MUMBAI--0742 IST--Indices in Asia opened lower Friday after US indices closed lower on fears of inflation as crude oil prices crossed $100 a barrel. New US tariffs and concerns over spending on artificial intelligence also affected market sentiment after technology companies' earnings failed to enthuse the market. Japan's Nikkei 225 and South Korea's KOSPI both fell more than 3?ch, led by losses in chip-makers. The Trump administration will impose new tariffs on 60 countries over alleged forced-labor violations. 

 

South Korea's SK Hynix and Samsung electronics both fell more than 5%. The Korea Securities Depository said that SK Hynix's 2.5?p on converting Seoul-listed shares into American Depositary Receipts was fully used up during its $26.5 billion US offering on July 10, according to Bloomberg. The limit halts arbitrage trading, leaving investors unable to narrow a massive price gap that saw SK Hynix's US-listed ADRs trade at a premium of up to 51% over its shares in Seoul.

 

Japan's Advantest and Tokyo Electron both fell 6.3% and 5.4%, respectively. Technology investor SoftBank Group fell 7.42% and memory chipmaker Kioxia lost 4.4%. Maker of Pocari Sweat Otsuka Holdings rose 1.6% to become the top gainer on the Nikkei.

 

Japan's core Consumer Price Index rose 1.6% in June from a year earlier, data showed Friday, in line with market expectations but higher from the 1.4% increase in May, Reuters reported. The headline inflation increased to 1.7% from 1.5% in May. The Producer Price Index rose 7.1% on year, the highest level since March 2023.

 

Following are the closing levels of key indices in the region at 0742 IST:

 

Index	Level	Change in %
Nikkei 225 Day	64347.68	(-)3.1
TOPIX FIRST SECTION	4000.1	(-)1.3
S&P/ASX 200 Index	8799.2	(-)0.5
KOSPI Index	6860.3	(-)3.3
Hang Seng Index	24876.12	(-)1.3
CSI 300 Index	4696.45	(-)0.7
FTSE Singapore Strait Times	5545.11	(-)0.7

 

(Deesha Jadhav)

 

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Equity Alert: US indices end down on AI spending worries, oil price surge

 

MUMBAI--0702 IST--Major US indices closed lower Thursday with the Nasdaq Composite falling more than 2?ter earnings of major technology companies raised concerns about heavy spending on artificial intelligence. Crude oil prices surged as the US and Iran continued air strikes and raised concerns over inflation. The Trump administration will impose new tariffs on 60 countries over alleged forced-labor violations.

 

The duties will be between 10.0% and 12.5% and will effectively replace the temporary 10% global tariffs, CNBC reported. These tariffs will apply to 60 trade partners and will cover over 99% of US trade. An estimate of the revenue which will be generated through these tariffs was not provided by the US Trade Representative, CNBC reported. 

 

The Dow Jones Industrial Average and the S&P 500 both fell around 1%. Sentiment was affected by the quarterly earnings of Tesla and Alphabet. Tesla fell nearly 15%, marking its worst day since March 2025. This was after it reported lower-than-expected earnings. Alphabet raised its full-year guidance for capital expenditure and the stock fell 7%. 

 

The chipmaker Intel rose 9?ter the company reported the largest quarterly revenue in nearly 15 years, CNBC reported. The company reported a top line of $16.1 billion for the second quarter, up 25% on year. American brewery Boston Beer rose 2% after the company reported slightly higher earnings for the second quarter which narrowly beat the Street's estimates. The company also reaffirmed its full-year earnings guidance of $8.50 to $10.50 per share, versus the consensus estimate of $9.38, as per the report.

 

On the positive side, Lockheed rallied almost 11?ter it raised its full year sales and profit forecast. RTX rose more than 7?ter it also raised its sales and profit forecasts for the full year.

 

Following were the closing levels of major US indices Thursday:

 

Index	Level	Change in %
Dow Jones Industrial Average	51711.65	(-)1.0
NASDAQ Composite	25137.69	(-)2.2
S&P 500	7408.3	(-)1.2

 

(Deesha Jadhav)

 

US$1 = INR 96.53

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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