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Informist, Monday, Aug. 3, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Mkt open up post Trump's decision to call off strikes on Iran

 

MUMBAI--0943 IST--Benchmark indices opened higher Monday after US President Donald Trump decided to call off strikes on Iran and indicated signs of a new peace deal. Following this, the October Futures of Brent Crude oil fell nearly 5% to around $83 per barrel. At 0941 IST, the Nifty 50 was at 24558.05, up 174.45 points or 0.7%, and the Sensex was at 78642.73, up 548.09 points or 0.7%. 

 

The stock exchanges will implement the new closing auction session for the equity cash segment from Monday. This is seen changing how cash market orders are handled and executed, and how trading prices are determined, for shares of companies in the permitted stock derivatives list, from 1515 IST to 1535 IST on trading days. The stocks will be traded as usual in the continuous trading session of the equity cash segment from 0915 IST to 1515 IST.

 

Shares of fast-moving consumer goods major ITC gained nearly 4% to be the top gainer in the Nifty 50. The company's net profit for the June quarter fell over 27% on year to INR 35.79 billion, and sharply missed the analysts' view of INR 44.64 billion. Revenue of the company rose 28% on year to INR 267.94 billion. The shares gained after Prabhudas Lilladher upgraded the stock to 'hold' from 'reduce'. The brokerage said that it expects limited downside for the sharp 30% correction since December.

 

InterGlobe Aviation was the top gainer among the Nifty 50 constituents, up over 3%. The easing war signals from West Asia is expected to provide relief for the airline's operations. Tata Motors Passenger Vehicles, Adani Enterprises, Dr. Reddy's Laboratories, Tata Consultancy Services, and Larsen and Toubro rose around 1–2%.

 

Financial services companies Bajaj Finance, Shriram Finance, Bajaj Finserv, and Kotak Mahindra rose 1-3%. The heavyweight banking stock ICICI Bank rose nearly 2%. On other hand, Sun Pharmaceutical Industries was the worst hit in the Nifty 50, down over 3%. Maruti Suzuki India's shares fell nearly 3%. The carmaker's net profit for the quarter fell 11% on year due to a rise in costs, an impact due to the West Asia war. 

 

In the Nifty 200, Aditya Birla Capital is the top gainer, up 5%. The company's consolidated net profit for the June quarter rose 40% on year to INR 11.75 billion, sharply higher than analysts' estimate of INR 8.74 billion. Strong growth in the company's assets under management aided its bottom line for the reporting quarter. Meanwhile, Muthoot Finance was the worst hit stock in both the Nifty 200 and Nifty 500 indices, down over 11%. The gold loan financier's net profit for the June quarter was below the Street's expectations. 

 

In the Nifty 500, Urban Co. rose over 15% to be the top gainer. The services company's shares rose despite reporting a net loss for the reporting quarter.

 

Zee Entertainment Enterprises fell nearly 11% to be the second-worst hit stock in the Nifty 500. The shares slumped after the Securities and Exchange Board of India banned the company and its Managing Director and Chief Executive Officer Punit Goenka and Chairman Emeritus Subhash Chandra from the market. The market regulator banned the company from the securities market for two months and its top executives for a period of over a year due to an unauthorised pledge of the company's land in Hyderabad to secure loans taken by promoter-linked Essel group entities.  (Adhithya Aji)

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Equity Alert: Brokerages cut ITC target price on weak cigarette performance

 

MUMBAI--0913 IST--Multiple brokerages cut their target price on ITC after the company detailed its June quarter results on Friday. The fast-moving consumer goods major reported a 13% on-year fall in its net profit to around INR 36 billion in the June quarter due to a fall in cigarette profitability and higher raw material costs.

 

Nuvama Institutional Equities cut its earnings per share view on ITC by 9% for 2026-27 (Apr-Mar) and 8% for FY28, factoring in weaker cigarette profitability and slower agricultural revival. The brokerage cut its target price on the stock by 11% to INR 310. However, the brokerage foresees improvement in monthly trends, rendering the stock attractive from a 1-2 year perspective.

 

Prabhudas Lilladher also cut its price target on the stock by over 3% to INR 291, but upgraded its recommendation to "hold" from "reduce." The brokerage estimates a 13?cline in the FMCG player's net profit in FY27 but sees 15.2% growth in FY28.

 

The brokerage expects the cigarette business to show a slow recovery, as ITC is still absorbing the excise increase, and sees little scope for positive volumes in the next 2–3 quarters given the big market disruption. While the FMCG business is showing decent growth, the brokerage anticipates some margin pressure in the September quarter due to the impact of the war in West Asia. Given the 30% correction in the stock since December 2025, the brokerage sees limited downside.

 

Sytematix Shares and Stocks (India) cut its revenue estimates by 6% and earnings per share view by 14–15% over FY27-FY28, factoring in the company's earnings in the June quarter. The brokerage remains cautious on the stock and expects significant upheaval in the core cigarette business to persist in the near-term. The brokerage cut its target price on the stock by over 6% to INR 290. (Shruti Nair)

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Equity Alert: Growth in US market for Sun Pharma key to watch, analysts say

 

MUMBAI--0856 IST--Sun Pharmaceutical Industries' growth in the US market through 2026-27 (Apr-Mar) in the absence of generic Revlimid sales continues to be a cause for concern for analysts, though the company's domestic business remains robust. However, its launch of semaglutide in Brazil and South Africa going forward acts as a positive lever. For the June quarter, the company's June quarter net profit and revenue missed the Street's consensus view, though its bottom line rose at its fastest pace in seven quarters.

 

The pharmaceutical major's formulation sales in the US fell 9.7% on year to $427 million mainly due to the absence of generic Revlimid sales. However, the drug's earnings before interest, taxes, depreciation, and amortisation for the June quarter likely grew by about 14% and its margin by 20 basis points, Nuvama Institutional Equities said. Going forward, the approval for psoriatic arthritis therapy Ilumya, growth in Unloxcyt and Leqselvi, and the launch of Semaglutide in key markets are important catalysts for the company. Nuvama revised its estimates for the company's EBITDA for FY27 and FY28 upwards by around 1% and those for earnings per share by around 2%. The brokerage retained its 'buy' rating and tweaked its target price higher to INR 2,360 from INR 2,115.

 

Although the revenue growth for the June quarter was stronger than the company's guidance for FY27, the management reiterated its forecast for the company's consolidated sales for the full year to be in high single digits. Speciality products Leqselvi and Unloxcyt are expected to witness a gradual commercial ramp-up and demand for semaglutide is also likely to play out well for the company, Systematix Institutional Equities noted. The approval for Nidelgy, which is expected by the end of FY27 or early FY28, is expected to strengthen growth opportunities, the brokerage said. Systematix maintained its 'buy' recommendation on the stock with an unchanged target price of INR 2,366. "Strategically, the quarter remained encouraging with branded pie sustaining the growth momentum," the brokerage said.

 

Emkay Global Financial Services was relatively cautious about the company's growth ahead. Expectations of a sequential uptick in US sales have not materialised yet, the brokerage said, even as Sun Pharmaceuticals' EBITDA for the June quarter was in line with its expectations. AbbVie's accelerated entry into Alopecia Areata treatment remains a key risk to Leqselvi's ramp-up, Emkay Global said. US-based AbbVie received approval from the European health regulator for the drug last week, and could potentially get it from the US Food and Drug Administration by February, the brokerage noted. Emkay Global cut its earnings estimates for the company by around 5% owing to lower US sales, margin pressure, and a higher tax rate. It trimmed its target price on the stock by 5% to INR 2,100 while retaining its 'add' recommendation. "We expect upside to be capped in the near term, with the quarter's performance indicating that there is only so much heavy lifting that Sun's stellar domestic franchise can do," the brokerage said. 

 

For the June quarter, Sun Pharma reported a consolidated net profit of INR 28.95 billion, up 27% year-on-year. Its revenue from operations rose 10% year-on-year to INR 153.00 billion. Friday, the company's shares ended at INR 1,990.50 on the National Stock Exchange, down 0.5% from Thursday. The company detailed its earnings during market hours.  (Ruchira Kagita)

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Equity Alert: Nifty 50 seen up 150-200 pts at open Mon as crude oil eases

 

 

MUMBAI--0849 IST--Benchmark equity indices are expected to open higher on Monday, defying the trend in Asian markets, amid easing of crude oil prices following US President Donald Trump's comments that peace talks with Iran would happen on Monday afternoon. This comes weeks after Washington struck off the interim peace deal with Tehran, which was signed in early June. Further, the sentiment was also aided by better earnings for the June quarter and a relatively stable rupee. Analysts see a stable rupee as a critical factor for foreign investors to see India in a better light as compared to other emerging markets.

 

"The Nifty 50 index is expected to see a gap-up opening around 200 points, Ashish Sherigar, senior technical analyst with NVS Brokerage, said. "The Nifty 50 index is expected to find support at 24400 points and face resistance at 24530 points," Nandish Shah, senior technical and derivatives analyst, said. He expects a gap-up opening of 150 points. 

 

The July futures contract of the Gift Nifty indicates that the domestic market will open higher. At 0804 IST, the futures contract was at 24615.50, up 228.50 points or 0.9%. This was around 230 points above Nifty 50's previous close. Friday, the Nifty 50 settled at 24383.60 points, up 66.45 points or 0.3%. 

 

The stock exchanges will implement the new closing auction session for the equity cash segment from Monday. This is seen changing how cash market orders are handled and executed, and how trading prices are determined, for shares of companies in the permitted stock derivatives list, from 1515 IST to 1535 IST on trading days. The stocks will be traded as usual in the continuous trading session of the equity cash segment from 0915 IST to 1515 IST.

Traders will react to the July wholesale sales data from different automobile makers declared on Saturday. This week's focus will also be on the Reserve Bank of India's three-day monetary policy committee meeting, at the end of which it is widely expected to hold the repo rate at 5.25% on the back of uncertainty over the impact of the war in West Asia and El Nio weather conditions on the economy and inflation.

 

In the US, the major indices ended higher Friday on upbeat sentiment post Amazon's strong quarterly results. In Asia, indices opened lower Monday, with South Korea's Kospi falling more than 4%, dragged down by the index heavyweights Samsung Electronics and SK Hynix. The negative sentiment in Asian markets persisted despite easing crude oil prices after the US President's comments on possible peace talks between the warring countries later in the day.  (Gopika Balasubramanium)

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Equity Alert: Asian markets open lower, dragged down by tech stocks

 

MUMBAI--0750 IST--Asian indices opened lower Monday with South Korea's Kospi plunging more than 4%. The index heavyweights Samsung Electronics and SK Hynix fell more than 7% and 6%, respectively. Mainland China's CSI 300 fell around 1% while Hong Kong's Hang Seng rose around 1%, led by gains in technology stocks. Key constituents Alibaba and Baidu rose around 6% and 4%, respectively. Australia's S&P/ASX 200 Index fell slightly. 

 

Japan's automobile maker Toyota Motors is expected to report a decline in its operating profit for the fifth consecutive quarter, Reuters reported. The carmaker is likely to report profit of $7.04 billion, down 5% on year, for the June quarter. The decline will be due to weaker vehicle sales and rising costs during the quarter. Investors will closely watch out for the management's commentary on the impact of a Southern Japan earthquake on its production facilities. Shares of Toyota Motors fell more than 4%.

 

On the macroeconomic front, South Korea's factory activity expanded at a stronger pace in July. South Korea's Purchasing Managers' Index stood at 53.1 in July, slightly up from 52.1 in June, according to reports published by S&P Global. "Positive signals extended to hiring and purchasing activity, as firms responded to increasing capacity and production requirements," Usamah Bhatti, an economist at S&P Global Market Intelligence, said in the report. "...cost pressures remained historically elevated, though the rate of input price inflation slowed to a pace not seen since February," Bhatti said. 

 

Japan's Purchasing Managers' Index stood at 54.5 in July, down slightly from 54.8 in June. Business conditions in the country became stronger for the seventh month in a row and manufacturing production witnessed its sharpest rise in nearly 12-and-a-half years, the S&P Global report noted. Meanwhile, Japan's headline benchmark index, the Nikkei 225, and the broader market, Topix, were down over 2?ch. 

 

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

 

Index	Level	Change in %
Nikkei 225 Day	62955.47	(-)2.2
TOPIX FIRST SECTION	3906.25	(-)2.4
S&P/ASX 200 Index	8959.40	(-)0.2
KOSPI Index	6312.32	(-)4.3
Hang Seng Index	26102.64	0.8
CSI 300 Index	4548.78	(-)0.9
FTSE Singapore Strait Times	5624.77	(-)0.1

 

(Deesha Jadhav)

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Equity Alert: US mkts end higher, Amazon ends 15% up after higher earnings

 

MUMBAI--0703 IST--Major US indices ended higher Friday led by gains in shares of Amazon. The technology heavyweight closed 15% higher after the company reported a favourable revenue growth. The Nasdaq Composite closed 1% higher. The S&P 500 closed around 1% higher and the Dow Jones Industrial Average closed modestly higher. Monday, the October futures contract of Brent Crude oil fell nearly 5% to around $84 a barrel after US President Donald Trump cancelled a new wave of strikes on Iran on Sunday.

 

Even though most tech companies are posting higher earnings, investors are less willing to overlook the spending on artificial intelligence, CNBC quoted Megan Horneman, chief investment officer at Verdence Capital Advisors, as saying. Microsoft closed more than 3% higher, but Apple closed 7% lower over demand concerns. The PHLX Semiconductor Index ended marginally higher. 

Investors await earnings from tech companies such as Palantir and semiconductor giants like Advanced Micro Devices due this week. Earnings from McDonald's, Kraft Heinz, Costco Wholesale, and Walt Disney are also due this week. The investors will have full labour market data Friday. The US economy is likely to add 87,500 non-farm payrolls in July, up from 57,000 jobs the previous month, according to FactSet consensus estimates. The unemployment rate is also likely to rise to 4.3% from 4.2%.

 

Following were the closing levels of major US indices Friday:
 

Index	Level	Change in %
Dow Jones Industrial Average	52485.03	0.5
NASDAQ Composite	25373.85	1.0
S&P 500	7489.72	0.7

 

(Deesha Jadhav)

 

US$1 = INR 95.14

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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