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Informist, Monday, Aug. 17, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Market opens dn on Hormuz reopening uncertainty, stalled talks

 

MUMBAI--0944 IST--Benchmark indices opened lower Monday amid uncertainty over the reopening of the key waterway, the Strait of Hormuz, due to the war in West Asia and the stalled talks between the US and Iran to end the war. Public sector banking and information technology stocks were the major laggards. At 0945 IST, the Nifty 50 was at 24301.25, down 64.75 points or 0.3%, and the BSE Sensex was at 77713.14, down 296.11 points or 0.4%. 

 

HDFC Life Insurance Co., Max Healthcare Institute, Hindalco Industries, and Oil and Natural Gas Corp. were the top gainers in the Nifty 50, gaining around 1% each. Eicher Motors and Titan Co. were up 0.5%  each. On the other hand, Dr. Reddy's Laboratories, JSW Steel, Tata Motors Passenger Vehicles, and ITC were down 1–2%. Information technology stocks, Tata Consultancy Services, Wipro, Infosys, HCL Technologies, and Tech Mahindra fell around 1% each. Metal stocks Tata Steel and JSW Steel fell around 1?ch.

 

All broader market indices were flat. Nifty midcap indices were down 1% each, while Nifty smallcap indices ranged from flat to down 0.1%. Among sectoral indices, Nifty IT and Nifty PSU Bank underperformed, down over 1?ch. All constituents in both indices traded lower. Meanwhile, Nifty Media was the best performer, up 0.5%. 

 

In the Nifty 200, Motilal Oswal Financial Services was the top gainer, up over 3%. Truck maker Ashok Leyland gained nearly 2%. Nirmal Bang raised its target price on the stock by over 8% to INR 197 and maintained a 'buy' call. "Our positive view is driven by the company's successful diversification, with nearly 45–50% of revenues now coming from higher-margin, less cyclical non-truck businesses such as defence, aftermarket, power solutions, and financial services," the brokerage said. Shares of the defence major National Aluminium Co. were up nearly 2%. 

 

BSE was the worst performer among the Nifty 200 constituents, down 4%. Tata Group-owned Voltas was down over 2%. Analysts took a cautious stance on the company due to near- to medium-term margin concerns. Ipca Laboratories was the top gainer in the Nifty 500, up nearly 11%. The stock gained after the company raised its revenue growth guidance to 14-16%  from 12-13%  earlier. Guidance for earnings before interest, tax, depreciation, and amortisation was raised to 23% from 22%. The company cited a better-than-expected performance across its businesses for the upward revisions. Schneider Electric Infrastructure was the worst performer in the index, down over 12%.  (Adhithya Aji)

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Equity Alert: Nirmal Bang ups Ashok Leyland target price by 8% to INR 197

 

MUMBAI--0941 IST--Nirmal Bang Institutional Equities has raised the target price on Ashok Leyland by over 8% to INR 197 from INR 182 previously and maintained a 'buy' recommendation on the stock. The brokerage cited the company's diversification to support growth. At 0940 IST, shares of Ashok Leyland were 2% higher at INR 175 on the National Stock Exchange.

 

Ashok Leyland now generates 45–50% of its revenue from higher-margin, less cyclical non-truck businesses such as defence, aftermarket, power solutions, and financial services, the brokerage said. The company's margin is expected to improve, and earnings are likely to remain stable over the medium term, supported by a richer business mix, continued cost optimisation, and increasing contribution from the non-commercial vehicle segment.

 

Ashok Leyland's management is optimistic about the growth in commercial vehicles driven by ageing fleets, new goods and services tax-led replacement demand, improving financing availability, and infrastructure activity. The medium and heavy commercial vehicle industry grew over 20% in June and July and is expected to continue from Sept–Oct. The company also expects commodity-cost pressure to persist in the September quarter, while recent price hikes and cost-control measures should help mitigate the impact until raw material costs ease in the second half of the financial year 2026-27 (Apr-Mar). The company's export volumes are likely to recover as its facility in Ras Al Khaimah, United Arab Emirates, is back in operation, supported by strong demand from the South Asian Association for Regional Cooperation and African regions.  

 

For the June quarter, Ashok Leyland posted a net profit of INR 6.09 billion on revenues of INR 96.34 billion. For the September quarter, Nirmal Bang expects the automobile company to report a 2?cline in its adjusted net profit despite an 18% rise in sales. The earnings before interest, tax, depreciation, and amortisation margin is expected to expand to 10.6% in the September quarter from 10.1% in the June quarter.  (Ayush Jaiswal)

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Equity Alert: Brokerages retain 'buy' on Max Healthcare after Q1 results

 

MUMBAI--0925IST--Multiple brokerages maintained their 'buy' recommendation on the stock of Max Healthcare Institute after the company announced its June-quarter earnings. Medical education is expected to be a significant line of business for the company in the coming years, and medical colleges are expected to generate over 25% return on capital, a top executive of the company said in a post-earnings call with analysts. For Apr-Jun, the company's consolidated net profit grew 5% on year to INR 3.22 billion, while revenues rose 17% to INR 23.66 billion.

 

Prabhudas Lilladher maintained its 'buy' recommendation with an unchanged target price of INR 1,150 per share. The brokerage views the company's operational efficiency as "commendable", especially in competitive markets such as the National Capital Region. The brokerage expects sequential growth to benefit from the addition of new beds, a price revision in the Central Government Health Scheme, and further ramp-up across the Noida and Dwarka units.

 

Nuvama Institutional Equities also retained its 'buy' on the stock but cut its target price by over 3% to INR 1,162. The brokerage believes the company is on a long-term growth trajectory with its capacity set to nearly double to 9,400 beds by financial year 2029-30 (Apr-Mar) on the back of a 70% expansion in brownfield projects. The brokerage identified a rapid ramp-up of new facilities, the addition of clinical talent, the discontinuation of low-margin oncology drugs, and a positive annual net impact of INR 1.40 billion from the Central Government Health Scheme as key near-term triggers.

 

Emkay Global Financial Services retained its 'add' recommendation but cut its target price by 8% to INR 1,150 per share. The brokerage expects the company's revenues to grow 22% on a compound annual basis over FY26-FY29, driven by higher bed occupancy. However, the brokerage factors in the commissioning of planned additions of around 2,300 beds and trimmed its earnings before interest, taxes, depreciation, and amortisation estimates for FY28 and FY29 by 4% and 5%, respectively. (Shruti Nair)

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Equity Alert: Asian mkts open mixed; Nikkei 225 flat post Japan GDP release

 

MUMBAI--0850 IST--Asian indices opened mixed on Monday amid higher crude oil prices and uncertainty over the reopening of the key shipping route, the Strait of Hormuz. The stalling of US-Iran talks to end the war also weighed on regional indices. Japan's Nikkei 225 was flat after the release of the GDP data.  

 

Nikkei 225 traded flat as Japan's GDP for the second quarter grew 1.1% on year, missing the estimated 2% growth, as lower domestic demand offset higher exports, CNBC reported. "Japan's latest GDP data was good enough to keep the central bank's normalisation efforts on track, but the composition wasn't all that convincing," Dow Jones Newswires quoted Krishna Bhimavarapu of State Street Investment Management as saying.   

 

The broader Japanese Topix index was down 0.6%, while China's CSI 300 was up 0.7% and Hong Kong's Hang Seng Index rose 1.6%. South Korea's stock markets were closed on Monday for a public holiday.

 

 

The following are the levels of key indices in the region at 0851 IST:

 

Index	Level	Change in %
Nikkei 225 Day	68721.4	0.01
TOPIX FIRST SECTION	4172.15	(-)0.6
S&P/ASX 200 Index	9085	(-)0.3
IDX Composite	6401.88	1.6
Hang Seng Index	25525.45	1.6
CSI 300 Index	4697.44	0.7
FTSE Singapore Strait Times	3953.50	0.7

 

(Vidhi Thacker)

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Equity Alert: Nifty 50 likely to be rangebound on lack of triggers; RIL eyed

 

MUMBAI--0838 IST--Nifty 50 is likely to stay in a range with no immediate trigger impacting the markets after the end of the June quarter earnings. The West Asia war continued to be the key overhang on the equity markets, with no clarity on the reopening of the key waterway, the Strait of Hormuz, and the stalled US-Iran talks to end the conflict. The GIFT Nifty suggests a slightly higher start for the benchmark index but the rise is likely to be limited.

 

"The Nifty index once again traded sideways and settled on a flat note after a lacklustre trading session, where neither the bulls nor the bears were able to drive the market in their direction," Vipin Kumar, assistant vice president-research at Globe Capital Market Ltd., said. The immediate support for the Nifty 50 is placed around 24230-24130 points, while the resistance is pegged at 24600-24700, according to Kumar. "A decisive break above the 24700 spot level is essential for a sustainable move towards 24850 and higher levels in the near term," he added. On Thursday, the Nifty 50 ended at 24366, down 29.85 points or 0.1%, and the BSE Sensex ended at 78009.25, down 70.71 points or 0.1%. 

 

Shares of the heavyweight constituent, Reliance Industries Ltd., will be in focus Monday after the conglomerate's strategic partnership with Rolls-Royce Plc to design, develop, manufacture, and deliver an indigenous engine for India's advanced medium combat aircraft programme. On the global front, indices in the US ended lower, with the Dow Jones Industrial Average and S&P 500 down 0.2?ch, while the NASDAQ Composite ended 0.3% lower. Meanwhile, the markets in Asia opened mixed.  (Adhithya Aji)

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Equity Alert: Margin pressure likely for Voltas in near term, analysts say

 

MUMBAI--0829 IST--Consumer durables major Voltas' unitary cooling products business supported revenue growth in the June quarter, while its electro-mechanical projects and services segment weighed on revenue, analysts said. A low base and price hikes benefited the company's air conditioner business during the quarter, they said. However, near- to medium-term margin concerns prompted brokerages to turn cautious on the company.

 

The company is positive on growth in its room air conditioners business, but the 7% rise in the margins of its unitary cooling products will be gradual, Emkay Global Financial Services said in its report. This is likely to take place over eight quarters, the brokerage said. Voltas' electro-mechanical projects and services segment is expected to recover in the second half of 2026-27 (Apr-Mar). Given the likelihood of a delay in margin normalisation and near-term execution pressures in the electro-mechanical projects and services, the brokerage cut its earnings per share estimates for the company by 13% for FY27 and 7% for FY28, while maintaining its 'buy' recommendation on the stock with a target price of INR 1,500.

 

While a low base, price hikes, and cost optimisation supported the company's air conditioner vertical's earnings before interest and taxes, elevated input costs hurt profitability, Nuvama Institutional Equities said. However, weakness in its electro-mechanical projects and services division remains a concern, the brokerage said. The brokerage trimmed its earnings per share estimates by 7% and 6% for FY27 and FY28, respectively. Nuvama maintained its 'reduce' call and has a target price of INR 1,230.

 

Voltas "delivered the print we were waiting for," Equirus Securities said, while noting that the Tata group company's growth was ahead of the industry's and that it expanded its unitary cooling products business' margins in a difficult cost environment. The segment's consolidated EBIT increased to INR 2.02 billion for the June quarter from INR 1.04 billion a year ago, the brokerage said. Equirus Securities maintained its 'long' stance on the stock with a target price of INR 1,520.

 

For the quarter ended June, Voltas reported a consolidated net profit of INR 2.14 billion on revenues of INR 46.74 billion. Friday, shares of the company closed 2.4% higher at INR 1,320.50 on the National Stock Exchange.  (Ruchira Kagita)

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Equity Alert: US indices fall Fri; Nasdaq, S&P 500 gain for 3rd straight wk

 

MUMBAI--0700 IST--Major US indices ended lower on Friday as crude oil prices rose, investors monitored talks between the US and Iran, and US retail sales posted a decline that lowered expectations of an interest rate hike by the Federal Reserve. Brent crude oil futures rose as much as 2% on Friday. After hitting a fresh high Thursday, the S&P 500 fell 0.2% in the last trading session for the week as shares of major chip equipment makers fell. On a weekly basis, the Nasdaq and the S&P 500 ended higher for the third straight week, while the Dow Jones Industrial Average closed lower.

 

The Dow fell 0.2%, and the Nasdaq composite was down 0.3%. Shares of chip equipment maker Applied Materials and chipmakers Broadcom and Intel Corp. fell, putting pressure on the S&P 500. Most of the Magnificent Seven stocks witnessed some selling pressure Friday, with only Apple and Tesla ending in the green. "Today (Friday) is like the start of that post-earnings flattening out trade," Jay Hatfield, chief executive officer of Infrastructure Capital Advisors, told CNBC. Hatfield anticipates the S&P 500 will cross 8,100 by year-end, as 90% of its companies posted earnings growth of more than 50% from the year-ago period, assuming oil prices and interest rates remain at the same level.

 

US retail sales fell 0.6% on a monthly basis, but rose 5% on a yearly basis. Retail sales fell in July for the first time in nine months, Reuters said. "This points to a material slowdown in real consumer spending growth in the third quarter," Sal Guatieri, a senior economist at BMO Capital Markets, was quoted as saying by Reuters.

 

Following are the closing levels of major US indices Friday: 

 

Index	Level	Change in %
Dow Jones Industrial Average	53732.41	(-)0.2%
NASDAQ Composite	26729.16	(-)0.3%
S&P 500	7785.76	(-)0.2%

 

(Vidhi Thacker)

 

US$1 = INR 95.51

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

 

Edited by Saji George Titus

 

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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