Equity Alert
Physicswallah surges as Q1 EBITDA turns positive, loss narrows
This story was originally published at 14:23 IST on 17 August 2026
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Equity Alert: Physicswallah surges as Q1 EBITDA turns positive, loss narrows
MUMBAI--1345 IST--Shares of Physicswallah surged almost 10% to an intraday high of INR 127.37 on the NSE after the company's consolidated net loss for the June quarter narrowed to INR 775.7 million and its earnings before interest, taxes, depreciation, and amortisation turned positive. Growth was robust despite disruptions in the schedule of the National Eligibility-cum-Entrance Test.
Physicswallah's EBITDA stood at INR 520 million for the quarter ended June as against a loss of INR 210 million in the corresponding quarter a year ago. Its EBITDA margin expanded to 4.9% from (-)2.5?rlier. Profit margin also grew 663 basis points on year to (-)8.4% for the period. The company witnessed growth in online and offline segments, it said in a letter to its shareholders. Its revenues for the quarter grew over 24% to INR 10.54 billion.
"Our business continues to scale with the cyclical nature of the academic session, as enrolments continue at the start of the year and batches commence progressively in line with the academic calendar," the company said in the letter.
Collections from online batches for the pan-India medical examination declined 28% on year for the June quarter, and this was entirely attributable to this calendar shift, the company said. The test was rescheduled to Jun. 21 from May 3 on concerns of question paper leaks. After the results of the examination were announced Jul. 16, revenues increased. Online collections through July till Aug. 13 increased 51% year-on-year, Physicswallah said.
At 1342 IST, shares of the educational technology company were 6% higher at INR 124.25 with trading volumes well above 79 million. This was close to seven times higher than the three-month average of the stock's volumes. Physicswallah was among the top gainers in the Nifty 500 universe. (Ruchira Kagita)
Equity Alert: NMDC turns slightly off lows after falling to over 4-mo low
MUMBAI--1348 IST--Shares of NMDC fell as much as 4% to INR 81.05, the lowest level in over four months, after the iron ore major reported a lower-than-expected revenue and a slight fall in its earnings before interest, tax, depreciation, and amortisation margin for the June quarter post market hours Friday. At 1343 IST, the stock came slightly off lows and traded at INR 84.05 per share, down 0.4% from the previous close.
The state-owned mining company's net profit for the reporting quarter grew nearly 2% on year to INR 20.07 billion, beating analysts' expectation of INR 19.56 billion by a slight margin. The company's revenue from operations for the quarter grew 2.5% on year to INR 67.95 billion, but fell short of the INR 79.03 billion estimated by analysts. Its EBITDA for the June quarter was INR 28.17 billion, up slightly from INR 27.77 billion reported a year ago. Meanwhile, its EBITDA margin contracted to 41% from 42% a year ago.
NMDC produced 15.12 million tonnes of iron ore in the June quarter, up 26% on year. Its iron ore sales for the quarter were up 2% on year at 11.73 million tonnes and the average sales realisation was INR 5,548 per tonne, up 4% on year.
Following the quarterly earnings, global brokerage Citi maintained its "sell" call and trimmed its target price on the stock by around 6% to INR 80, noting that higher costs offset volume and realisation gains, NDTV Profit reported, citing the brokerage. Similarly, JM Financial Institutional Securities maintained its "reduce" call on the stock, with a target price of INR 87 per share. While the brokerage remains constructive on the volume growth outlook, it sees higher royalty costs and lower near-term realisations as key constraints for the company's earnings growth.
ICICI Securities retained its "add" call on the stock but reduced its target price by 5% to INR 95 per share. "While production growth outlook remains robust, iron ore prices are likely to remain under pressure in the near term on higher domestic ore availability, lower international prices and slower steel capacity additions in the near future," the brokerage said in a report dated Saturday. It expects the company to report subdued earnings for the September quarter on the back of lower volumes and the recent price cut taken by NMDC. However, commencement of its Bacheli plant is expected to upgrade the low-grade iron ore fines, thus aiding margins with mix improvement, the brokerage said.
Systematix Shares and Stocks retained its "buy" call on NMDC with an unchanged target price of INR 112 per share. It expects the company's volume growth to be supported by incremental volumes from deposits 4 and 13 in Bailadila iron range, debottlenecking at existing mines and improved logistics infrastructure. Meanwhile, operating leverage and absence of low-margin hot rolled coil trading for NMDC Steel are seen supporting NMDC's profitability, Systematix said. However, it sees weak global iron ore pricing and lower sales as key risks to its rating on the stock.
Shares of NMDC's demerged entity, NMDC Steel, plunged more than 9% to INR 40.48, the lowest level in more than four months. While the steelmaker managed to report a rise in both net profit and revenue on a year-on-year basis, both the metrics declined sequentially. "PAT remained positive at INR 505mn (million), but declined sharply from INR 3.9bn (billion) in the previous quarter, reflecting the seasonal weakness and higher cost base, JM Financial said. Its borrowings increased to INR 50.5 billion in the June quarter from INR 46 billion in the trailing quarter. At 1343, the stock was down nearly 7% at INR 41.47 per share and was among the worst hit in the Nifty 500 index. (Arya S. Biju)
Equity Alert: Mkt off lows as heavyweights, select stocks recover; RIL up 1%
MUMBAI--1330 IST--Benchmark indices came off lows as the heavyweights Reliance Industries and HDFC Bank, and other select stocks erased early losses and recovered. Shares of Tata Steel, JSW Steel, and Asian Paints turned green and were 0.2-0.6% higher. RIL rose nearly 1%, while the heavyweight banking stocks ICICI Bank and HDFC Bank rose 0.2?ch. At 1329 IST, the Nifty 50 was at 24352.90, down 13.10 points or 0.1%, and the BSE Sensex was at 77886.29, down 122.96 points or 0.2%.
Aluminium major Hindalco Industries was the top gainer in the 50-stock index, up nearly 2%. HDFC Life Insurance Co., Oil and Natural Gas Corp., and Bajaj Finance rose over 1?ch. Kotak Mahindra Bank, Bajaj Finserv, Titan Co., UltraTech Cement, and Axis Bank were around 1% higher each. On the other hand, information technology companies cemented their position as the major laggards in the indices. Infosys and HCL Technologies were the worst hit stocks among the Nifty 50 constituents, down over 2?ch. Their peers Tata Consultancy Services, Tech Mahindra, and Wipro were down 1-2%. Pharmaceutical companies Cipla, Sun Pharmaceutical Industries, and Dr Reddy's Laboratories fell 1-2% as well in the index.
All the broader market indices turned green; the Nifty Midcap indices were 0.1-0.2% up, and the Nifty Smallcap indices rose 0.1-0.4%. Among the sectoral indices, Nifty IT fell over 1% to be the underperformer among the sectoral indices. Nifty Realty and Nifty Metal were the top performers, up around 1?ch.
In the Nifty 200, Voltas was the worst hit, down over 3%. The company's weak sales in electro-mechanical projects and services in the June quarter and margin performance were below analysts' expectations. Nuvama Institutional Equities has cut Voltas' 2026-27 (Apr-Jun) earnings per share estimate by 7% and by 6% for FY28. The brokerage maintained a 'reduce' call on the stock but raised the target price over 3% to INR 1,230. LG Electronics' shares were down 3% in the index.
Schneider Electric Infrastructure fell over 11% in the Nifty 500 after the company reported a 70% on-year fall in its June quarter net profit to INR 124.40 million. Belrise Industries was the second-worst hit in the index, down 7%. (Adhithya Aji)
Equity Alert: Long put premiums wane as Nifty 50 recovers from intraday lows
MUMBAI--1235 IST--Premiums on put contracts fell from their intraday highs after the Nifty 50 rose from the session's lows. Premiums across these contracts had risen significantly when the Nifty 50 hit its intraday low at 24226.95 points. An accelerated theta decay ahead of the expiry of Nifty 50's weekly contracts Tuesday also contributed to put writing.
At 1318 IST, the Nifty 50 was at 24346 points, down just 0.1% from Friday and up 119.05 points from its intraday lows. Premiums of put contracts across 24300-24200 strike prices declined 18-30% from Friday after rising 158-163% at intraday peaks. Open interest across these contracts exploded, with contracts on the 24300 strike price rising 19 million to almost 29 million. The short contract was among the most popular choices for put sellers during the session so far.
On the call side, traders sold contracts of the 24600 strike price relentlessly, and the premium on the contract dropped over 64% to INR 9.10. The highest open interest was at the 24400 strike price. A sharp rise in open interest at the 24400 strike price, when seen alongside the near 41?cline in the contract's premium, indicates hefty call writing. The theta decay across 24400-24600 strike prices ranged from INR 12.6 to INR 34.6. (Eshitva Prakash)
Equity Alert: Schneider Electric hits 2-mo low; co's Q1 PAT falls 70% YoY
MUMBAI--1240 IST--Shares of Schneider Electric Infrastructure shed over 13% to hit their two-month low at INR 1,185 on the National Stock Exchange. This comes after the company reported a near-70% on-year fall in its net profit for the June quarter to INR 124.40 million despite a modest 5% rise in its revenue from operations to INR 6.51 billion.
The company's total expenses for the June quarter grew at over twice the pace of the increase in its total income, thereby dragging down its bottom line. For Apr-Jun, the company's total expenses grew nearly 13% on year to INR 6.41 billion, while its total income grew over 5% to INR 6.58 billion.
At 1232 IST, shares of the company were down 11% at INR 1,219.50 on the National Stock Exchange. The stock was the worst performer in the Nifty 500 index. Around 1.7 million shares of the company have changed hands on the exchange so far, which is nearly nine times the number of shares traded until the same time Friday. (Shruti Nair)
Equity Alert: Molbio Diagnostics lists at 21% premium to issue price on NSE
MUMBAI--1238 IST--Shares of Molbio Diagnostics listed at a premium of more than 21% to its issue price on both the exchanges Monday morning. The issue price was set was INR 807. Trading volumes in the stock were close to 13 million on NSE and over 1 million on the BSE. After listing, the stock soared as much as 29% from its issue price to an intraday high of INR 1,044.40 on the NSE. At 1234 IST, shares of Molbio Diagnostics were up almost 24% at INR 999.40 on the bourse.
The subscription for the company's initial public offer had ended Wednesday and it was subscribed over 70 times. It received bids for 573.21 million shares against the 8.16 million on offer. The company had raised INR 2.81 billion from anchor investors.
Molbio Diagnostics is a point-of-care diagnostics company focused on expanding access to accurate, rapid, and cost-effective healthcare technologies to diagnose infectious and non-communicable diseases. For the financial year 2025-26 (Apr-Mar), it had reported a consolidated net profit of INR 1.67 billion on revenue of INR 14.46 billion. (Ruchira Kagita)
Equity Alert: BSE hits 4-mo low; Jefferies downgrades stock, cuts price view
MUMBAI--1226 IST--Shares of BSE extended losses for the fourth straight day, slumping nearly 5%, to a four-month low of INR 3,282.90 after global brokerage Jefferies downgraded the stock's rating and also cut its target price. Jefferies downgraded BSE to "underperform" from "hold" and lowered the target price over 16% to INR 2,940, NDTV Profit reported.
The brokerage cited risks to BSE's revenue from domestic proprietary traders, who account for nearly half of the bourse's notional turnover. It also attributed higher securities transaction tax, the Reserve Bank of India's norms on bank guarantees, and changes around the closing auction session as primary headwinds, as per the report.
BSE's options average daily traded turnover is down 12% month-on-month so far in August, it said, adding that the bourse's market share gains outside the T+0 and T+1 days have slowed, as per the report.
At 1218 IST, the stock had pared some losses and traded 3.7% lower at INR 3,318.10. Over 5 million shares have changed hands so far in the day on NSE, more than double the 2 million shares traded at the same time Friday. The stock is down over 7% in the last 30 days and 17% in the last three months. However, it's up over 33% in the last 52 weeks.
Of the seven brokerage reports on BSE available with Informist, six have a "buy" or equivalent rating on the stock with an average target price of INR 3,994, over 20% higher than the current market price. One brokerage has a "hold" rating on the stock. (Ashutosh Pati)
Equity Alert: Indices remain lower as IT majors drag; aluminium cos rise
MUMBAI--1215 IST--Benchmark indices remained lower with information technology companies being a major drag on them. The Nifty IT index extended losses further and was down nearly 2% among the sectoral indices. At 1211 IST, the Nifty 50 was at 24266.50, down 99.50 points or 0.4%, and the BSE Sensex was at 77601.10, down 408.15 points or 0.5%.
HDFC Life Insurance Co. and Titan Co. were the top gainers in the Nifty, up around 1% higher each. Bajaj Auto, Bajaj Finance, Oil and Natural Gas Corp., and Maruti Suzuki gained 0.4?ch. On other hand, IT majors Infosys, HCL Technologies, Tata Consultancy Services, Tech Mahindra, and Wipro were down 1-2%. Fast moving consumer goods companies Nestle India, ITC, Hindustan Unilever, and Tata Consumer Products fell around 1-2%.
Aluminium producers Hindalco Industries and National Aluminium Co. were up over 1% and nearly 4%, respectively. NALCO's Chairman and Managing Director Brijendra Pratap Singh, in an interview with CNBC-TV18, said he expected aluminium prices to cool to around $3,100 per tonne to $3,200 per tonne for the rest of the year. This comes after the metal prices averaged around $3,600-$3,700 per tonne in the April and the June quarters last year, the report said. On alumina, the top official said the market is expected to see a surplus of around 1.6 million tonnes in 2026-27 (Apr-Jun), which could keep the prices around $350 per tonne for the rest of the year, CNBC-TV18 reported.
Among the Nifty 200 constituents, Motilal Oswal Financial Services continued to be the top gainer, up over 3%. KEI Industries, Oberoi Realty, and Suzlon Energy were up around 3% higher each. On other hand, BSE was the worst hit in the Nifty 200, down nearly 4%. The shares of the exchange fell after the global brokerage Jefferies downgraded the stock to 'underperform' from 'hold' and cut the target price over 16% to INR 2,940, NDTV Profit reported.
In the Nifty 500, Hindustan Copper was up nearly 7% to be the top gainer. The stock rose after copper futures on the London Metal Exchange rose early Monday on supply concerns. On LME, the three-month futures of Copper were nearly 0.1% higher at $14,160 per tonne. IPCA Laboratories and Physicwallah rose around 6?ch in the index. On the other hand, Schneider Electric Infrastructure was the worst hit, down nearly 12%. (Adhithya Aji)
Equity Alert: IPCA Lab surges to record high after hiking FY27 guidance
MUMBAI--1150 IST--Shares of IPCA Laboratories surged over 12% to hit a fresh high of INR 1,945.10 on the National Stock Exchange after it raised its guidance for 2026-27 (Apr-Mar) Friday. It sees its sales growth at 14-16% through the ongoing financial year and earnings before interest, taxes, depreciation, and amortisation margin 23%. Further, it does not foresee margin pressure in the September quarter.
Its generic, branded, domestic business and active pharmaceutical ingredient businesses are performing well, according to the company in a post-earnings call with analysts. Earlier, the company expected revenue to grow 12-13% and the EBITDA margin to be 22% for FY27. The company may add around 200 medical representatives to its India operations during the year to support new business launches.
The pharmaceutical company had also reported a strong growth in its net profit for the June quarter. Its consolidated net profit grew 72% on year to INR 4.02 billion while its revenue went up 21% to INR INR 27.88 billion. Analysts had pegged profit to be INR 3.10 billion and revenue at INR 25.61 billion.
At 1132 IST, the stock had come off its highs and was still almost 7% higher at INR 1,854.40 on the NSE with trading volunmes over four million. The volumes were several times higher than the average of the stock's volumes in three and six months each. IPCA Laboraties was the top-performing stock in the Nifty 500. (Ruchira Kagita)
Equity Alert: IT cos dn on profit-taking; Infosys, HCL Tech drag on Nifty 50
MUMBAI--1150 IST--The Nifty IT index was down for a second consecutive session and shed nearly 2% intraday. All constituents of the index fell in early trade. HCL Technologies, Infosys, Tata Consultancy Services, and Wipro were the key drags on the benchmark Nifty 50 index.
"Geopolitical concerns are very high, like crude (oil) prices are inching up, and US (Treasury) yields are remaining high, which is causing pressure on IT stocks," said Sumit Pokharna, vice-president of research at Kotak Securities.
"This is technical profit taking or decline following a sharp up move from 25700 to 32000," Vipin Kumar, assistant vice-president of research at Globe Capital Market, said. "Nifty IT index is consolidating around the price resistance of 32000 levels for past two weeks. A sustained trading below 30900 spot could drag it towards 30000-29500 levels in near term. Conversely, a decisive close above 32000 could take it up to 33500-33800 spot levels," he said.
At 1041 IST, the Nifty IT index was down over 1% at 30950.15 points. Mphasis was the biggest loser in the sectoral index, down over 2%. Shares of HCL Technologies, Infosys, TCS, Tech Mahindra, and Wipro were down over 1?ch. (Arundathi A R)
Equity Alert: Dhoot Transmission lists at 38% premium to issue price on NSE
MUMBAI--1145 IST--Shares of Dhoot Transmission listed at INR 1,200 on the National Stock Exchange, at a premium of nearly 38% from the issue price of INR 871. The stock has been up since its debut and gained over 38% to hit an intraday high of INR 1,205 on the NSE. At 1140 IST, shares of the company were at INR 1,177.45, up over 35% on the exchange. On the BSE, shares of the company listed at INR 1,193.80, at over 37% premium to the issue price.
The intial public offering of Dhoot Transmission, which closed on Wednesday was subscribed over 74 times. The company received bids for a whopping 1.85 billion shares against 24.96 million shares on offer, as per BSE data. Dhoot Transmission earlier raised INR 9.18 billion from anchor investors ahead of the offer.
Dhoot Transmission designs, manufactures, and supplies critical wiring harnesses that integrate electronic sensors and controllers, switches, terminals, connectors, junction boxes, high-voltage interconnection systems, and data cables. For the financial year 2025–26 (Apr-Mar), it had reported consolidated net profit of INR 3.97 billion on revenues of INR 45.25 billion. (Shruti Nair)
Equity Alert: Indices fall further on losses in PSU banks, IT cos
MUMBAI--1050 IST--Benchmark indices fell further, weighed down by public sector bank and information technology stocks. The heavyweights ICICI Bank and Reliance Industries extended losses further, down nearly 1%. At 1048 IST, the Nifty 50 was at 24231.95, down 134.05 points or 0.6%, and the BSE Sensex was at 77477.33, down 531.92 points or 0.7%.
The Nifty 50 index is expected to move in the range of 24000–24600 in the near term until some catalyst emerges to break it, according to Dr. V.K. Vijayakumar, chief investment strategist, Geojit Investments Ltd. "Investors should look beyond Nifty 50 for short-term gains. Plenty of stock-specific action is likely in the mid-and small-cap space," Vijaykumar said in a note. He added the significant trend from the June quarter results is the performance of the broader market.
HDFC Life Insurance Co. and Hindalco Industries were top gainers on the Nifty 50, up around 1?ch. Titan Co., ONGC, Bharat Electronics, and Eicher Motors were up 0.3-0.4%. On other hand, information technology stocks Tata Consultancy Services, Infosys, HCL Technologies, and Wipro were down 1-2%. These stocks were the worst hit in the Nifty 50. The shares of public sector bank major State Bank of India extended loss further and was down over 1%. Auto companies Mahindra & Mahindra and Tata Motors Passenger Vehicles were down around 1%. Pharmaceutical companies Sun Pharmaceutical Industries and Cipla were down around 1?ch as well.
National Aluminium Co. was the top gainer in the Nifty 200, up nearly 3%. Motilal Oswal Financial Services, Supreme Industries, and KEI Industries were up over 2?ch in the index. In contrast, BSE was the worst hit stock, down over 4%. Shares of Physciswallah was the top gainer among the Nifty 500 constituents, up over 6%. The shares rose after the company narrowed its net loss for the June quarter. Schneider Electric Infrastructure was the worst hit in the index, down over 11%. (Adhithya Aji)
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?ch. Eicher Motors and Titan Co. were up 0.5?ch. 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?ch. Metal stocks Tata Steel and JSW Steel fell around 1?ch.
All broader market indices were flat. Nifty midcap indices were down 0.1?ch, 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?rlier. 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)
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)
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)
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)
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)
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)
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 95.60
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Himanshi Gupta
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.
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