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Informist, Wednesday, Aug. 12, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Grasim up 2%, Apollo Hospitals down 2% ahead of Q1 earnings

 

MUMBAI--1135 IST--Shares of Grasim Industries gained 2% to their intraday high of INR 3,385.90 and those of Apollo Hospitals Enterprise fell over 2% to their lowest level in almost two months at INR 8,535.50 on the National Stock Exchange. Both the Nifty 50 constituents are set to declare their June quarter earnings later in the day.

 

For Apr-Jun, brokerage estimates for Grasim Industries' bottom line vary. Of the three brokerage estimates on the company available with Informist, Motilal Oswal Financial Services expects the company's net profit at INR 700 million, while Kotak Institutional Equities sees it at INR 1.30 billion. However, Nuvam Wealth Management expects the company to post a loss of INR 712 million. The company posted a net loss of INR 1.18 billion in the year-ago quarter. The company's revenue is expected to be between INR 118.16 billion and INR 129.12 billion for the June quarter, according to estimates from three brokerages. In the year-ago quarter, the company reported revenues of INR 92.23 billion. At 1123 IST, shares of the company were at INR 3,352, up 1% from Tuesday. Nearly 477,000 shares of the company have changed hands on the exchange so far, almost twice the number of shares traded until the same time Tuesday.

 

For Apr-Jun, Apollo Hospitals is expected to report a 29% on-year jump in its consolidated net profit to INR 5.6 billion, according to the average of estimates from nine brokerages. The company's consolidated net sales are seen rising 18% on year to nearly INR 69 billion. Brokerages expect improved occupancy in the hospitals business and steady growth in the pharmacy and clinics segments to drive the company's earnings for the June quarter. At 1123 IST, shares of the company were at INR 8,567.50. Nearly 395,000 shares of the company have changed hands on the exchange so far, compared to nearly 222,000 shares traded until the same time Tuesday. (Shruti Nair)

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Equity Alert:Analysts see Zydus Life sales growth from US launches to be slow

 

MUMBAI--1014 IST--Zydus Lifesciences reported a better-than-expected growth in its consolidated sales for the June quarter though its net profit missed the Street's estimates. The absence of revenue from generic cancer drug, Revlimid, and royalties paid in relation to the patent for its generic therapy, Mirabegron likely dragged down profitability for the quarter. Going ahead, most brokerages are not too enthused about the revenue the new drug launches in the US could potentially generate and they believe margin recovery will also take longer.

 

Growth in the pharmaceutical major's India and international formulations businesses surprised positively, Systematix Institutional Equities said. The brokerage estimated the company's revenue, earnings before interest, taxes, depreciation, and amortisation to grow at a compounded annual rate of 11.9% and 1.6%, respectively, over FY26-28. It has factored in sales contribution from material launches in the US.

 

While Saroglitazar is likely to be launched this financial year, revenues from this drug should only start flowing in FY28, Systematix said. The biosimilar of Ranibizumab in the US is seen contributing to sales in the second half of FY27. However, the brokerage expects some commercial challenges for Ranibizumab on the back of competition from established players. Systematix maintained its "hold" stance on the stock with a target price of INR 1,203 apiece.

 

Zydus Life's new sales are expected to come at lower profitability, JM Financial Institutional Securities and this will keep its margins mostly flat for the next three years. The company is expected to focus on investments in its specialty business and "coupled with high amortisation impact below EBITDA, would result in broadly flat earnings over FY26– 29E," the brokerage said. JM Financial pegs the drug maker's revenue to grow at a compounded annual rate of 10?tween FY26 and FY29. Its EBITDA is seen rising 5% but net profit is estimated to fall 2% during this period. The brokerage maintained its "reduce" recommendation on the stock with a target price of INR 1,084.

 

However, Nuvama Institutional Equities upgraded Zydus Life to "buy" from "hold" and hiked its target price over 33% higher to INR 1,400 while revising its earnings per share for the company by 11% for 2026-27 (Apr-Mar) and 19% for FY28. The company's revenue, EBITDA, and net profit were above the broking firm's estimates. The drug maker's gross profit of 72.1% for the June quarter indicates a better product mix, Nuvama noted. Launches of branded products and new 180-day exclusive opportunities should are further seen improving this mix, it said.

 

With the company's capital allocation, its domestic branded generics business and performance in the US specialty segment are expected to improve, Nuvama said. The emerging markets and Europe geography also have positive prospects, it said. Meanwhile, the potential start of its biologics contract development and manufacturing business in the US is also a key positive, the brokerage said. 

 

Zydus Life reported a consolidated net profit of INR 9.40 billion, down nearly 36% on year and 26% on quarter, below analysts' estimate of INR 10.61 billion. The company's revenue from the operations for the quarter was up nearly 22% on year at INR 80.17 billion. At 1013 IST, shares of Zydus Life were over 1% down at INR 1,176.50 on the NSE.  (Ruchira Kagita)

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Equity Alert: IRCTC rises nearly 1% ahead of June quarter earnings

 

MUMBAI--1000 IST--Shares of Indian Railway Catering and Tourism Corp. Ltd. traded nearly 1% higher ahead of its June quarter earnings due later in the day. At 0954 IST, shares of the company were marginally higher at INR 516.15 on the NSE. So far in the day, above 142,000 shares of the company changed hands on the NSE compared with over 134,000 shares traded Tuesday.

 

Dolat Capital Market Pvt. Ltd. expects the company's net profit at INR 3.26 billion and the revenue from operations at INR 13.01 billion for the reporting quarter. Prabhudas Lilladher Pvt. Ltd. pegged the bottom line at INR 3.51 billion and the top line at INR 12.71 billion. Estimates from only two brokerages were available with Informist.

 

Prabhudas Lilladher expects the company's earnings before interest, tax, depreciation and amortisation at INR 4.24 billion. "We expect ticketing volumes of 135mn (million) resulting in convenience fee revenue of INR 2.5 billion in 1QFY27E (June quarter). Catering revenue is expected to increase 8.0% year-on-year to INR 5.9 bn (billion) while tourism business is expected to grow by 12.0% year-on-year to INR 1.7 bn (billion). Overall, we expect an EBITDA margin of 33.4%," the brokerage said. 

 

All three brokerage reports on the company available with Informist have a 'buy' recommendation on the stock with an average target price of INR 671 on the National Stock Exchange. This is 30% higher than the current share price. (Astha Oriel)

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Equity Alert: Indices open dn as oil rises to $90/bbl on Iran war escalation

 

MUMBAI--0930 IST--The Nifty 50 index opened a tad lower Wednesday amid a sharp rise in crude oil prices on fresh escalation in the US-Iran war. The BSE Sensex slipped into the red soon after opening slightly higher. The Brent crude oil prices surged to higher levels of around $90 a barrel as the possibility of ending the US-Iran war faded with a new round of attacks.

 

At 0933 IST, the Nifty 50 was at 24439.50, down 32.20 points or 0.1%. The BSE Sensex was at 78070.12, down 84.13 points or 0.1%. However, investors grew less nervous as the India Volatility index fell nearly 1% to 11.7350 points. The broader market was mixed, with all small-cap indices gaining slightly, while mid-cap indices down a tad each.

 

Among indices tracking sectors, the Nifty Realty index shed the most, down nearly 1%. The Nifty Healthcare index was also down nearly 1%. On other hand, the Nifty PSU Bank gained the most among them, up almost 2%.

 

Max Healthcare Institute was the top drag on the Nifty 50 index, down over 2%. Apollo Hospitals Enterprise was down almost 2% ahead of its June quarter results scheduled later in the day. Apollo Hospitals is expected to report a consolidated net profit of about INR 5.6 billion for the June quarter, up 29% on year and 5% on quarter. Its net sales are likely to rise 18% on year and 4% on quarter to nearly INR 69 billion.

 

Godrej Consumer Products was the worst hit in both the Nifty 200 and Nifty 500 indices, down nearly 10%. Shares of PI Industries were nearly 4% lower after the company posted a 39% on-year fall in its June quarter net profit. Techno Electric & Engineering Co. was down over 6% in the Nifty 500 index after its Apr-Jun net profit fell 31% on year on higher expenses.

 

Meanwhile, Hindalco Industries topped the Nifty 50 index, with over 3% gains. State Bank of India and Grasim Industries gained over 1?ch in the index. Shares of Grasim Industries rose ahead of its June quarter results scheduled later in the day.  (Arundathi A R)

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Equity Alert: Brokerages wary of Siemens profitability despite Q1 sales growth

 

MUMBAI--0907 IST--Brokerages are wary of Siemens profitability after the company detailed its June quarter earnings on Tuesday. The company reported a five-fold on-year surge in its consolidated net profit for the June quarter to INR 21.43 billion. However, the surge in the bottom line was largely attributable to a one-time gain of INR 20.99 billion from the sale of the company's low voltage motors business. The company dealt with challenges relating to higher raw material prices and foreign exchange volatility. The company's consolidated revenues for the June quarter rose 15% on year to INR 47.14 billion. Both the net profit and sales beat the Street's view.

 

Emkay Global Financial Services has a "buy" recommendation and a target price of INR 4,600 on the stock. This represents an upside of over 14% from the current market price. The company values the stock at 65 times the earnings per share multiple based on estimates for June 2028. The brokerage expects the free trade agreement between the EU and India as well as the capital expenditure outlined in the railway segment to drive healthy demand. However, the brokerage remarked that the company's operational performance was below expectations with commodity cost volatility, increase in material costs, and foreign exchange losses impacting operating margins.

 

Nuvama Institutional Equities maintained its "hold" recommendation on the stock with an unchanged target price of INR 4,375 on the National Stock Exchange. This represents an upside of nearly 9% from the current market price. The brokerage expects near-term margin weakness to be offset by strong order inflows. (Shruti Nair)

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Equity Alert: Asian mkts open mixed; Kopsi, Nikkei 225, CSI 300 in the green

 

MUMBAI--0811 IST--Asian indices opened mixed with South Korea's Kospi rising almost 4% and leading the gains as index heavyweights Samsung Electronics and SK Hynix rose sharply. Elsewhere in the region, sentiment was affected as investors grew pessimistic over the prospect of a swift end to the war in West Asia. The broader Japanese market index Topix was up marginally as was the Nikkei 225. Mainland China's CSI 300 index also gained slightly during early trade. However, indices in Hong Kong and Singapore were in the red. Australia's S&P/ASX 200 was around 1% lower. 

 

Kospi heavyweights SK Hynix and Samsung Electronics both rose around 6% and 7%, respectively. Shares of Samsung SDI rose around 6?ter the company announced an agreement with General Motors to jointly develop battery cells for potential electric vehicle applications, CNBC reported. In Japan, shares of technology company Advantest rose slightly and those of Tokyo Electron rose more than 1%. In Hong Kong, shares of Baidu fell around 2% while those of Alibaba fell around 3%. 

 

The Japanese yen slipped closer to the psychologically significant 160 mark against the US dollar after giving up about half of its gains from the recent coordinated US-Japan intervention to keep the yen from falling further. The weakness of the yen cannot be justified by the US-Japan interest rate differential alone, analysts at Credit Agricole CIB said, according to a CNBC report. Analysts added that there is an "asymmetry of investment power" between the two economies and "the interest rate differential is only one aspect of the outcome."

 

Following are the levels of key indices in the region at 0803 IST:

 

Index	Level	Change in %
Nikkei 225 Day	67013.98	0.1
TOPIX FIRST SECTION	4115.96	0.4
S&P/ASX 200 Index	9195.20	(-)0.6
KOSPI Index	6569.26	3.5
Hang Seng Index	25370.82	(-)1.1
CSI 300 Index	4679.25	0.3
FTSE Singapore Strait Times	5719.91	(-)0.6

 

(Deesha Jadhav)

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Equity Alert: Seen in range; oil rises to $90/bbl on escalation in Iran war

 

MUMBAI--0835 IST--Headline equity indices are expected to move in a range Wednesday, suggested by the movement in the GIFT Nifty levels. Brent crude oil prices surged to around $90 a barrel on fresh escalation in the West Asia war. Technical analysts expect positive sentiment in the market as long as the Nifty 50 sustains above the 24400 level.

 

At 0831 IST, the October futures contract of Brent crude oil was nearly 1% higher from Tuesday at $89.63 a barrel. Oil prices have gained almost 2% in the past seven days. Within the last 30 days, oil prices rose 15%. The current crude oil prices are 23% higher than the pre-war levels.

 

At 0832 IST, the August futures contract of the GIFT Nifty was largely flat at 24559. This suggested a rangebound movement for indices, as the GIFT Nifty levels were over 87 points higher than the Nifty 50's previous close of 24471.70. However, Sunny Agrawal, fundamental research head at SBI Securities, expects markets to remain volatile in the near term, with geopolitical developments, crude prices and earnings outcomes continuing to drive investor sentiment," he said in a note.

 

Shares of Grasim Industries and Apollo Hospitals Enterprise will be in the spotlight as these companies will announce June quarter results later in the day. For Grasim Industries, two broking firms expect the company to report a net profit and one projected a net loss. Higher realisations in the viscose staple fibre and chemicals businesses are expected to support earnings, while continued losses in the paints and business-to-business segments are likely to weigh on the bottom line, analysts said. 

 

Motilal Oswal Financial Services Ltd. expects the company to report a net profit of INR 700 million for the reporting quarter and Kotak Institutional Equities expects net profit of Grasim at INR 1.30 billion. On the other hand, Nuvama Wealth Management Ltd. expects the company to post a net loss of INR 712 million. The company's revenue is expected to be between INR 118.16 billion and INR 129.12 billion.

 

Apollo Hospitals is expected to report a consolidated net profit of about INR 5.6 billion for the June quarter, up 29% on year and 5% on quarter. Its net sales are likely to rise 18% on year and 4% on quarter to nearly INR 69 billion. Improved occupancy in the hospitals business and steady growth in the pharmacy and clinics segments are likely to help the company report healthy earnings growth for the quarter.

 

All three major US indices settled lower Tuesday, with the Nasdaq Composite shedding nearly 1%. Indices closed lower weighed by declines in major technology stocks such as SpaceX, Amazon, and Alphabet, as investors turned less optimistic about a deal to end the war in West Asia. Asian equity indices were mixed in early trade with South Korea's KOSPI leading the gains, up 3.5%. FTSE Singapore Strait and S&P/ ASX 200 indices were in red.  (Arundathi A R)

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Equity Alert: US markets close down, dragged down by tech stocks 

 

MUMBAI--0703 IST--Major US indices ended lower pressured by declines in major technology stocks such as SpaceX, Amazon, and Alphabet, as investors grew less optimistic about a deal to end the war in West Asia. The technology-heavy Nasdaq Composite closed almost 1% lower while the S&P 500 and the Dow Jones Industrial Average closed slightly lower. 

 

The Strait of Hormuz will remain closed as long ‌as the US does not change its behaviour and accept Iran's conditions to end the war, the newly appointed secretary of Iran's Supreme National Security Council said, according to a Reuters report.

 

"As has been the case for months, it's just really hard to come to an agreement that works for everyone," Reuters quoted Ross Mayfield, investment strategy analyst at Baird as saying. "Oil is a little higher, pricing in more uncertainty around that. The market has obviously gyrated around this conflict at times, but it hasn't been the big headwind that a lot of people imagined it might be."

 

Meanwhile, shares of Amazon closed 2.1% lower, while Alphabet and SpaceX both closed around 4% lower, weighing on the S&P 500 and the Nasdaq Composite. Shares of Apple closed 1% lower. 

 

However, shares of cloud computing company CoreWeave closed more than 2% higher after the company's revenue for the June quarter more than doubled to $2.58 billion amid strong demand for artificial intelligence infrastructure. Among others, alternative asset managers Apollo Global and Blackstone closed around 6% and 4% higher, respectively, after partnering with Nvidia on compute-financing platforms which will mobilise $500 billion.

 

Investors await the US July retail inflation data due later in the day, which could influence expectations for the Federal Reserve's interest-rate decision in September. Investors remain divided over the possibility of a rate hike in September. The likelihood of an interest rate hike has dropped to 48.5% from 52.2?rlier, according to the CME Fedwatch tool. Rising energy prices caused by the war in West Asia have increased inflation concerns and made it more difficult for central banks to determine their policy paths.

 

Following were the closing levels of major US indices Tuesday:

 

Index	Level	Change in %
Dow Jones Industrial Average	53791.85	(-)0.3
NASDAQ Composite	26445.45	(-)0.6
S&P 500	7728.20	(-)0.3

 

(Deesha Jadhav)

 

US$1 = INR 95.43

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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