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Informist, Monday, Jul. 27, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Indices snap five-day fall as oil prices ease to $89/bbl

 

MUMBAI--0935 IST--After logging losses for the past five days, the domestic equity market saw a positive opening for the week as Brent crude oil prices eased to a low of $89 a barrel following reports of the US pausing attacks on Iran. Benchmark indices opened higher Monday with only five members of the Nifty 50 trading lower. However, the 50-stock index was down a tad from the psychologically crucial 24000-point level.

 

At 0923 IST, the Nifty 50 was at 23936.50, up nearly 170 points or 0.7% from Friday's close. The BSE Sensex was at 76639.12, up almost 580 points or 0.8%. Nervousness among investors dropped significantly, with India VIX, the fear gauge of the equity market, down almost 4% at 135100 points.

 

Broader market and sectoral indices were almost in line with their benchmark peers, gaining in early trade. All broader market indices were up around 1?ch. Among sectoral indices, the Nifty IT was the top gainer, up almost 2%. The Nifty Media, Nifty FMCG, Nifty Realty, and Nifty Pharma were up over 1?ch in the pack of sectoral indices.

 

Shares of InterGlobe Aviation rose over 3% to be the top gainer in the 50-stock index as crude oil prices slipped. The stock was up after falling for the past three successive sessions. Asian Paints was the second highest gainer, up almost 3%. Information technology stocks Infosys, Tata Consultancy Services, Tech Mahindra, and HCL Technologies were up 1.0–2.8%.

 

Oil and Natural Gas Corp. was the biggest drag on the benchmark index, down over 2%, amid the fall in oil prices. The stock was down since Friday, when it snapped a five-day rally. Oil India, another upstream oil company, fell around 2% in the Nifty 200 index. SBI Life Insurance Co., Bajaj Auto, and ICICI Bank were the other losers in the Nifty 50 index, down 0.1-0.4%.  (Arundathi A R)

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Equity Alert: Brokerages retain 'buy' on Shriram Fin, see lower credit costs

 

MUMBAI--0905 IST--Most brokerages maintained their 'buy' recommendation on Shriram Finance after the lender detailed its June quarter on Friday. For Apr-Jun, the non-banking financial services player reported a 60% on-year jump in its net profit at INR 34.45 billion, driven by robust growth in its assets under management.

 

Motilal Oswal Financial Services raised its earnings per share estimate for financial year 2026-27 (Apr-Mar) by 7%, factoring in a higher net interest margin following equity infusion from MUFG as well as a marginal fall in credit costs. The brokerage expects the lender to deliver compounded annual growth of around 18% in its assets under management and around 29% in its bottom line over FY26-FY28, along with a 4% return on assets and a 13.5% return on equity by FY28. The brokerage reiterated its "buy" recommendation with a target price of INR 1,235.

 

Nuvama Institutional Equities retained its "buy" recommendation on the stock with a target price of INR 1,250. The brokerage also expects MUFG's capital infusion in Shriram Finance to provide long-term growth capital and reduce the funding cost. This would allow the lender to structurally diversify its portfolio from cyclical and asset quality-prone commercial vehicles towards other segments such as new private vehicles, gold loans, and micro, small, and medium enterprises, among others, and, thus, deliver better risk-adjusted returns, the brokerage said in its research report. The brokerage also expects sector-best growth of more than 4% in Shriram's return on assets and sees the lender delivering return on equity of around 13–15% as leverage improves over FY27 and FY29.

 

Prabhudas Lilladher bakes in credit cost of 2.0% for FY27 and 1.9% for FY28. Going forward, the brokerage expects better margin, positive growth outlook, and controlled credit cost. The brokerage reiterated its "buy" recommendation on the stock with a target price of INR 1,250. The brokerage will continue to assess the impact of a delayed monsoon and El-Nino in the September quarter.

 

Nirmal Bang also kept its "buy" recommendation on Shriram Finance, citing strong advantages from the MUFG deal and rating upgrades which would lower cost of funds going forward. The brokerage underscored three engines of value creation identified by the management in their post-earnings call: a structural compression of around 100 basis points in cost of funds over the next 2–2.5 years, a scaling up in the gold loans business through 200–300 existing branches along with dedicated kiosks in residential catchments, and a new push to commercial vehicle financing aimed at recapturing customers from competitors as the franchise pivots from a pure used-asset financier to a full-spectrum vehicle lender. Further, the management's medium-term goal of reducing cost of funds, growth-driver strengthening and employee productivity gains over three-four years implies operating leverage compounding alongside leverage rebuild.

 

Emkay also retained its "buy" recommendation on the stock with an unchanged target price of INR 1,200, implying a price-to-book multiple of 2.1 times the estimates for FY28. The brokerage factors in the lender's June quarter performance and the management's positive outlook. (Shruti Nair)

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Equity Alert: Tata Consumer's growth intact, tea prices key, say analysts

 

MUMBAI--0820 IST--Tata Consumer Products reported a healthy set of earnings for the June quarter. The company's management expects its growth businesses to see 30% sales growth in the near to medium term. The company's overall earnings before interest, tax, depreciation, and amortisation margin will expand by 50-70 basis points. The company's growth trajectory is largely intact though shifting tea costs may pose some challenges, according to brokerages.

 

The company's tea business grew 2% year-on-year in volume and declined 4% in value. Tea procurement costs have gone up 7–10% and the pricing will be reassessed over the next 15–30 days, the management said. Considering higher advertisement and promotional spends, Elara Securities (India) trimmed its EBITDA margin estimates for the company by 45 bps to 14.4% for 2026-27 (Apr-Mar) and by 43 bps to 14.7% for FY28. Elara Securities maintained its 'accumulate' stance on the stock and revised its target price slightly to INR 1,290 from INR 1,345.

 

Given the lower growth expected in the company's tea business, Nomura tweaked its earnings per share estimates for the company for FY27 lower to 17.5% from 20.5% while increasing it slightly for FY28 and FY29. The brokerage expects the company's earnings per share to grow 16.5% at a compounded annual rate between FY26 and FY29. The brokerage raised its target price to INR 1,475 from INR 1,450 while maintaining its 'buy' stance.

 

The Tata-group owned consumer player's long-term growth opportunity is intact, Nirmal Bang Institutional Securities said. Growth will be driven by the company scaling up its growth businesses such as Tata Sampann, ready-to-drink beverage portfolio, premiumisation, and better distribution, the brokerage said. Nirmal Bang values the stock a price-to-earnings multiple of 51 based on earnings per share estimates for FY28. Nirmal Bang has a 'buy' rating on the stock and a target price of INR 1,310.

 

The fast-moving consumer goods company's net profit for the June quarter went up nearly 28% on year to INR 4.27 billion. Its revenue from operations increased nearly 12% to around INR 54 billion. The company declared its June quarter results after trading hours. On Friday, shares of Tata Consumer closed almost 2% lower at INR 1,088.00 on the NSE.  (Ruchira Kagita)

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Equity Alert: Indices seen higher after 5-day fall; oil prices dn at $89/bbl

 

MUMBAI--0820 IST--Domestic equity indices are expected to open higher Monday, snapping a five-day losing run, as Brent crude oil prices eased to a low of $89 a barrel on reports that the US paused attacks on Iran. Shares of Bharat Electronics and Coal India will be in focus as they will detail their June quarter earnings later in the day.

 

The September futures contract of Brent crude oil prices slipped to a low of $89.58 a barrel from $101 per barrel Friday, their highest levels in nine weeks. The levels are over 22% higher than the pre-war levels. "The fall in crude oil prices might give strength to Indian markets," Rupak De, senior technical analyst at LKP Securities, said. 

 

At 0818 IST, the July futures contract of GIFT Nifty was nearly 1% higher from Friday's close at 23967.50. This was 200 points higher than the Nifty 50's previous close of 23767.45, indicating a higher opening for the market Monday. "Technically, the benchmark Nifty index breached its one-month consolidation range with a gap-down opening, filling the gap left during the Jun. 15 rally before retesting the 23800 spot level—the lower band of its recent range," Vipin Kumar, assistant vice president of research at Globe Capital Market, said. "The current chart texture remains negative as long as the index stays below 23900 on a closing basis."

 

Shares of Bharat Electronics and Coal India will be in ficus during the session, as they will detail their June quarter earnings later in the day. Bharat Electronics is likely to report a net profit of INR 10.36 billion, up 7% on year, according to analysts. Its top line for the quarter is expected to be INR 50.36 billion, up 14% on year and down 51% on quarter. Coal India is expected to report its consolidated net profit at INR 85 billion, down 3% on year and over 21% from the trailing quarter. Its revenue from operations is expected at INR 431 billion, up over 20% on year, but a fall of over 7% from the March quarter.

 

Major US indices closed mixed Friday as investors weighed the massive spending by artificial intelligence companies. The Nasdaq Composite ended 0.6% down, while the Dow Jones Industrial Average and S&P 500 indices closed marginally higher each. Asian equity indices were also mixed in early trade, with South Korea's KOSPI and Singapore's FTSE Straits Times Index being the only losers in the pack.  (Arundathi A R)

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Equity Alert: Asian markets open mixed, KOSPI dragged by chipmakers

 

MUMBAI--0745 IST--Markets in Asia opened mixed Monday, taking cues from the US market. South Korea's KOSPI fell almost 1% and was the biggest loser amongst its peers. The index was dragged by a fall in heavyweights Samsung Electronics and SK Hynix. Japan's Nikkei 225 was trading almost flat. Hong Kong's Hang Seng was slightly up. 

 

China's CSI 300 rose marginally as the shares of chipmaker Changxin Technology Group rose almost five-fold Monday on listing on Shanghai's tech-heavy STAR Market. The company has raised 57.92 billion yuan through its offer, making it the most valued China-listed company.

 

Shares of Naver jumped over 12?ter the company announced a $1 billion new share issuance to Nvidia. Nvidia Friday announced a partnership with Naver and Canada's Brookfield to expand South Korea's national artificial intelligence factory infrastructure, alongside its investment in Naver.

 

The FTSE Singapore Strait Times traded almost flat. This comes after the Monetary Authority of Singapore on Monday tightened its policy for a second consecutive month in order to ease inflationary pressures. The Monetary Authority of Singapore said it will increase the rate of appreciation of the Singapore dollar's nominal effective exchange rate policy band "very slightly," with an adjustment smaller than the one in April. The width of the band and the level at which it is centred were left unchanged.

 

"In an environment of continued heightened uncertainty, this calibrated adjustment to the policy stance builds on the tightening in April," the Monetary Authority of Singapore said in its statement.

 

Following are the levels of key indices in the region at 0745 IST: 

 

Index	Level	Change in %
Nikkei 225 Day	64646.84	0.1
TOPIX FIRST SECTION	4044.08	0.8
S&P/ASX 200 Index	8857.1	1.0
KOSPI Index	6628.44	(-)1.0
Hang Seng Index	25067.85	0.4
CSI 300 Index	4677.07	0.6
FTSE Singapore Strait Times	5582.64	(-)0.1

 

(Deesha Jadhav)

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Equity Alert: US indices close mixed ahead of US Fed meet

 

MUMBAI--0700 IST--Major US indices closed mixed Friday as investors weighed the massive spending by artificial intelligence companies. The ongoing West Asia war, sent crude oil prices briefly above $100 a barrel before easing to $92.6 a barrel. The tech-heavy Nasdaq Composite and the Dow Jones Industrial Average both closed marginally lower Friday. The S&P 500 traded almost flat. Investors await the meeting of the US Federal Reserve which will provide clarity on the whether the Fed is likely to raise rates later in the year.

 

Shares of Intel fell nearly 8% Friday and reversed earlier gains after the company reported better-than-expected earnings for the June quarter. Broadcom fell 2.7% and Advanced Micro Devices slid 3.3%. Shares of Micron technology declined 7% and the VanEck Semiconductor ETF lost 3% Friday. 

 

Speciality glass and fibre company Corning fell 3%. Tesla fell more than 3% Friday after the company signalled higher AI spending.

Shares of defence contractor Booz Allen Hamilton popped 12?ter the company posted fiscal first-quarter earnings that surpassed estimates.

 

Among the S&P 500 companies that have so far reported earnings, 86% have topped earnings-per-share estimates and 80% have exceeded revenue expectations, according to FactSet, CNBC reported. The earnings growth rate is up 37.9% on the year, and sharply up from the expected 23.2%, according to FactSet. Investors await the earnings of one-third of S&P companies this week, such as Apple, Visa, Chevron and Coca-Cola.

 

Following were the closing levels of major US indices Friday: 

 

Index	Level	Change in %
Dow Jones Industrial Average	51947.25	0.5
NASDAQ Composite	24975.82	(-)0.6
S&P 500	7411.98	0.1

 

(Deesha Jadhav)

 

US$1 = INR 96.26

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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