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Informist, Tuesday, Jul. 28, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Most asian indices end dn; Kospi plunges 11% as chip stock rout

 

MUMBAI--1425 IST--Almost all major indices in Asia closed lower Tuesday as concerns regarding artificial intelligence spending and valuations of chipmaker's stocks affected market sentiment. South Korea's Kospi was the worst hit of the pack and closed almost 11% lower, at its lowest level in over three months. 

 

South Korea's chip companies, Samsung Electronics and SK Hynix, fell over 13% and nearly 15%, respectively. The Kospi has declined 29% so far this month, exceeding its record monthly fall of 27% in October 1997, Reuters reported.

 

China's blue-chip CSI 300 index ended nearly 3% lower. The index was dragged down by technology and basic materials sectors, indices tracking which closed down 6.3% and 1.3%, respectively. ChangXin Memory Technologies had a tremendous debut on the Shanghai Stock Exchange's technology-laden Star Market. Shares of China's biggest memory chip-maker soared by nearly 470%. On Tuesday, shares of the company ended almost 4% lower. Hong Kong's Hang Seng closed nearly 4% higher and was the only index in the region which closed in green. 

 

Japan's Nikkei 225 closed nearly 4% lower Tuesday. Heavyweights Advantest and Tokyo Electron closed around 11% lower. Kioxia Holdings closed more than 18% lower. Shin-Etsu Chemical and SoftBank both closed more than 4% lower each.

 

Following are the levels of key indices in the region at 1425 IST:

 

Index	Level	Change in %
Nikkei 225 Day	62364.92	(-)4.0
TOPIX FIRST SECTION	3963.59	(-)2.6
S&P/ASX 200 Index	8947.8	0.6
KOSPI Index	6023.66	(-)10.8
Hang Seng Index	25310.85	0.4
CSI 300 Index	4569.52	(-)2.8
FTSE Singapore Strait Times	5620.18	(-)0.0

 

(Deesha Jadhav)

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Equity Alert: Godfrey Phillips falls 8% as Q1 net sales, PAT fall sharply

 

MUMBAI--1210 IST--Shares of Godfrey Phillips India shed 8% to hit an intraday low of INR 2,033.50 as the company's June quarter earnings disappointed market participants. The higher excise duty imposed on cigarette and tobacco products, effective Feb. 1 earlier, took a toll on the company's profit for the quarter.

 

Godfrey Phillips India's consolidated total sales, net of excise duty, slipped 19% on year to INR 12.06 billion for the June quarter and gross profit from continuing operations decreased a little over 29% to INR 4.44 billion. Gross profit margin fell 750 basis points to 7.8% from 15.3% in the year-ago June quarter. 

 

Excise duty accounted for more than 71% of the company's total expenses at INR 26.14 billion. On a yearly basis, the excise duty paid by the company increased eight times in the reporting quarter.

 

The cigarette seller's operating earnings before interest, taxes, depreciation, and amortisation margin declined 510 basis points on year to 3.2%. Its net profit fell 44% year-on-year to INR 1.98 billion. The company's volumes during Apr-Jun fell over 3% on year and about 2% sequentially to 1.87 billion per month.

 

During the June quarter, the company's unmanufactured tobacco exports sales were at INR 2.48 billion and it contributed 7% to its net sales. The unmanufactured tobacco exports were impacted due to "various geopolitical factors", the company said in its investor presentation. 

 

At 1207 IST, shares of the company were down almost 8% at INR 2,040 on the NSE. Nearly two million shares changed hands on the bourse, higher than one million until the same time Monday.  (Ruchira Kagita)

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Equity Alert: Indices tad up; Nifty 50 above 24000 pts; IT cos major gainers

 

MUMBAI--1130 IST--After witnessing large volatility in the early session, indices sustained in positive territory with marginal gains. The Nifty 50 index, after a flat opening below the 24000-point level, is now just above the level. Majority of the Nifty 50 stocks traded higher, with information technology stocks leading the pack.

 

At 1126 IST, the Nifty 50 was at 24012.25 points, up 16.30 points, or 0.1%. The BSE Sensex was at 76877.28 points, up 41.50 points, or 0.1%. Broader market and sectoral indices showed a mixed performance. All small-cap indices were marginally down, while all mid-cap indices rose marginally. Most sectoral indices fell, while indices tracking information technology, realty, and automobile sectors were the sole gainers.

 

The Nifty IT was the highest gaining sectoral index, up 3.5%, with all its constituents trading higher. Tata Consultancy Services was the leader among the pack of gainers in the 50-stock index, up nearly 5%. Tech Mahindra, HCL Technologies, Infosys, and Wipro were up 1.5–3.5%. Coforge continued to be the major gainer in the Nifty 200 as well as Nifty 500 indices, up over 9%.

 

Shares of Lodha Developers were the second-biggest gainers in the Nifty 200 index, up 7%. The stock extended its gains for a second straight session after the company said it aims 30-35% business from its new launches. The Nifty Realty was the second-biggest gainer among sectoral indices, which gained over 1.5%.

 

Hindustan Unilever logged a loss of over 4% in the Nifty 50 after it missed the Street's view for key financial metrics for the June quarter. The Nifty FMCG was one of the major losing sectoral indices, and was down nearly 1%. Shares of ITC and Tata Consumer Products were down 1–1.6%.

 

Godfrey Phillips India was the biggest loser in both the Nifty 200 and Nifty 500 indices. The stock was down nearly 8?ter rising for the past two successive sessions. Shares of the tobacco manufacturer fell after the company posted a 51% on-year fall in its net profit for the June quarter on a higher excise duty.  (Arundathi A R)

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Equity Alert: Bharat Electronics hit 7-mo low after co's Apr-Jun earnings

 

MUMBAI--1028 IST--Shares of Bharat Electronics shed 3.7% and hit their lowest level in around seven months at INR 392.10, after the company detailed its June quarter earnings Monday. For Apr-Jun, the state-owned defence player reported a nearly 9% on-year rise in its net profit to INR 10.48 billion, broadly in line with the Street's view. On the revenue front, the company reported a 25% on-year jump to INR 55.33 billion. However, the company's total income declined over 24% on year to INR 57.01 billion, while the total expenses rose nearly 31% on year to INR 42.98 billion. At 1022 IST, the stock was at INR 393.60, down 3.3% from Monday on the National Stock. Over 14 million shares of the company have changed hands on the exchange so far.  

 

Nuvama Institutional Equities retained its positive outlook on the stock. The brokerage underscored that despite the miss on the earnings before interest, taxes, depreciation, and amortisation front due to a contraction in gross and EBITDA margins, the company's execution levels remain healthy. The brokerage believes that, going forward, an execution ramp-up in the company's air defence projects, such as Akashm and LCA radars, coupled with a rise in repairs, upgrades, and exports, would underpin healthy long-term growth. Nuvama retained its "buy" recommendation with an unchanged target price of INR 485 on the stock, which is 45 times the earnings per share multiple based on FY28 estimates.

 

Elara Securities (India) raised its target price on Bharat Electronics by over 3% to INR 480 and maintained its earnings per share view based on FY27 and FY29 estimates. The brokerage reiterated its "accumulate" recommendation on the stock due to healthy sales growth guidance along with continued margin improvement, strong order inflow potential in the next two years, a battle-tested product portfolio and export opportunities. A slowdown in the defence budget and delay in the receipt of large orders were cited as risk factors. The brokerage estimates a compounded annual growth rate of 17% over FY26-FY29.

 

Of the 13 brokerage reports available on the company with Informist, 12 have a "buy" or equivalent recommendation on the stock with an average target price of INR 490, which represents an upside of 25% from the current market price. (Shruti Nair)

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Equity Alert: HUL down 5% as Apr-Jun results fail to cheer Street

 

MUMBAI--1020 IST--Shares of fast-moving consumer goods major Hindustan Unilever fell 5% to a low of INR 2,062.70 as its June quarter results failed to cheer the Street. Both the company's top line and bottom line failed to surpass Street's estimates. The company's earnings before interest, tax, depreciation, and amortisation margin also shrank from the year-ago quarter. At 1022 IST, the stock was at INR 2,099.70, down INR 74.90 or 3.4%. 

 

Its net profit fell around 4% on year to INR 26.31 billion and was below the estimates of INR 27.22 billion. This was due to a sharp rise in expenes, even as raw material costs fell. The overall costs rose 10% on year to INR 13.27 billion. Its revenue rose around 10% on year to INR 166.57 billion. This was also lower than the consensus estimate of INR 168.64 billion. The company's margin contracted 40 basis points on year to 22.8%. Its underlying volume grew 5% on year during the quarter. (Gopika Balasubramanium)

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Equity Alert: Indices largely flat, Nifty tad down from 24000 pts; HUL dn 4%

 

MUMBAI--1010 IST--Benchmark indices were largely flat during Tuesday's open with Brent crude oil prices remaining lower around $87 a barrel amid a pause in war between the US and Iran. Around half of the Nifty 50 constituents traded higher. The 50-stock index is expected to remain volatile on the expiry of its weekly derivatives contracts.

 

At 0952 IST, the Nifty 50 was at 23998.15, up 2.20 points or flat from its previus close. The BSE Sensex was at 76857.15, up 21.37 points or flat from Monday. Broader market indices were mixed, with all mid-cap indices marginally higher. On the other hand, small-cap indices were down marginally. India VIX rose marginally to 12.6925 points.

 

Most sectoral indices were down in early trade, with the Nifty Energy down 1.5%. Meanwhile, the Nifty IT led the pack of gainers, up 3.5%.

 

Tata Consultancy Services was the top gainer in the Nifty 50 index, up over 4%. Infosys, Tech Mahindra, and HCL Technologies were up around 3?ch. In the Nifty 200 and Nifty 500 indices, Coforge gained the most, up nearly 10%. The company's consolidated revenue for the June quarter rose over 24% on quarter and surpassed expectations.

 

Hindustan Unilever, Coal India and Bharat Electronics were pushed down to be key drags in the Nifty 50 index, down over 3–4?ch. Hindustan Unilever fell after the company's net profit and revenue for the quarter missed the Street's view. Shares of Coal India fell as its consolidated net profit growth for the reporting quarter was largely flat on year.  (Arundathi A R)

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Equity Alert: Seen volatile ahead of F&O expiry; HUL, L&T in focus

 

 

MUMBAI--0845 IST--Benchmark indices are expected to move in a range Tuesday after ending Monday's session with significant gains. A drop in crude oil prices to a low of $87 a barrel following reports of the US pausing attacks on Iran is expected to lift market sentiment. Analysts see the market witnessing volatility due to the expiry of Nifty 50's weekly derivatives contracts. Investors are expected to keenly track Larsen & Toubro and Hindustan Unilever as they are scheduled to announce their June quarter earnings Tuesday.

 

At 0807 IST, the July contract of GIFT Nifty was marginally lower from its previous close at 23960, while the August contract was at 239997.50. This indicated a rangebound to negative movement for indices Tuesday. "As long as Nifty sustains above this level (23856 points), the index is likely to remain on an upward trajectory and could test the 24500 mark in the coming sessions," Sundar Kewat, technical and derivatives analyst at Ashika Institutional Equity Research, said. "Hence, a buy-on-dips strategy remains the preferred approach."

 

Shares of Bharat Electronics and Coal India will be watched post their June quarter results announcement Monday. Bharat Electronics reported an over 8% on-year rise in its net profit for the June quarter at INR 10.48 billion. This was almost in line with analysts' view of INR 10.36 billion. Its net sales for the quarter rose 25% on year to INR 55.33 billion, higher than analysts' consensus estimate of INR 50.36 billion.

 

Coal India reported a flat-on-year growth in its net profit for the reporting quarter. However, it surpassed the Street's view for the metric. The company's consolidated net profit grew 0.6% on year to INR 88.52 billion, above analysts' view of INR 86.88 billion. Its consolidated revenues from operations grew almost 8% on year to INR 462.55 billion.

 

L&T is expected to post a consolidated net profit of INR 38.50 billion, up 6.4% on year. The company's consolidated revenue from operations for the quarter is expected to be INR 685.64 billion, up 7.7% on year.

 

Hindustan Unilever is expected to report a year-on-year fall in net profit for the June quarter. The company's net profit for the June quarter is seen at INR 27.82 billion, down nearly 3% on year. Its revenue is seen at INR 171.77 billion, up around 8% on year.

 

Barring the Nasdaq Composite, the other two major US indices settled higher Monday. The indices ended mixed as the market awaits earnings from major companies such as Apple, Amazon, Meta Platforms, and Microsoft, which are due this week. Among Asian equity indices, Hang Seng index was the only gainer in early trade, up marginally. South Korea's KOSPI shed nearly 10%.  (Arundathi A R)

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Equity Alert: Asian markets open lower, Kospi falls to over three-month low 

 

MUMBAI--0742 IST--Indices in Asia opened lower Tuesday, with South Korea's Kospi falling more than 8% to its lowest level in more than three months. Trading was halted for 20 minutes after the fall triggered circuit breakers to prevent panic selling. Japan's Nikkei 225 was down nearly 4% and the broader market index, Topix, fell over 2%. 

 

The South Korean chip stocks fell Tuesday, with Samsung Electronics and SK Hynix falling as much as 9.5% and 11%, respectively. SK Hynix's US-listed American depository receipts closed lower at $143.02, down from their $149 initial public offering price. The fall came as investors pulled out of artificial intelligence stocks amid concerns over AI spending and competition from China. 

 

Japan's Kioxia Holdings plunged more than 17%. Heavyweights Advantest Corp. and Tokyo Electron fell over 10% while Shin-Etsu Chemical and SoftBank fell between 4% and 6%. Shares of the marine engineering company Hanwha Ocean fell over 8%, despite reporting better than expected earnings for the quarter. This was before the Korean Exchange halted trading in index stocks. 

 

China's CSI 300 fell 1.6%, tracking the decline in the region. Hong Kong's Hang Seng was slightly up, supported by gains in technology and industrial stocks. Hang Seng was the only regional index in the green. 

 

Following are the levels of key indices in the region at 0732 IST:

 

Index	Level	Change in %
Nikkei 225 Day	62360.6	(-)4.0
TOPIX FIRST SECTION	3966.28	(-)2.5
S&P/ASX 200 Index	8872.50	(-)0.2
KOSPI Index	6212.26	(-)8.0
Hang Seng Index	25327.88	0.5
CSI 300 Index	4630.81	(-)1.5
FTSE Singapore Strait Times	5600.03	(-)0.4

 

(Deesha Jadhav)

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

 

MUMBAI--0705 IST--US indices closed mixed Monday as the market awaits earnings from major companies such as Apple, Amazon, Meta Platforms, and Microsoft, which are due this week. The spending of artificial intelligence companies still weighed on investors. Investors are estimating a 62% chance that the US Federal Reserve will leave the rates unchanged at its meeting Wednesday. This leaves a 38% chance of a 25-basis-point hike, according to the CME FedWatch tool.

 

The Dow Jones Industrial Average closed marginally higher. The Nasdaq Composite closed slightly higher while the S&P 500 ended almost flat. The Philadelphia semiconductor index closed 2.2% lower and is down 21% from its record high close of June. Shares of Walmart, Microsoft, and Johnson & Johnson closed between 1% and 2% higher, boosting the S&P 500. Among the 11 S&P sectors, seven closed in positive territory. Consumer staples closed up 1.6%, leading the gains, and information technology closed 1.3% higher. 

 

The market will closely watch the consumer confidence report which is due later in the day as also the Personal Consumption Expenditures Price Index for June which is due Thursday. Earnings from Coca-Cola, UPS, Corning, and Boeing for the June quarter are due before the bell. 

 

Following were the closing levels of major US indices Monday: 

 

Index	Level	Change in %
Dow Jones Industrial Average	52210.08	0.51
NASDAQ Composite	24932.08	(-)0.2
S&P 500	7413.18	0.02

 

(Deesha Jadhav)

 

US$1 = INR 95.72

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

 

Edited by Akul Nishant Akhoury

 

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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