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Informist, Thursday, Sept. 3, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Godrej Consumer dn 5% to 4-yr low; analysts cautious of view

 

MUMBAI--1105 IST--Shares of Godrej Consumer Products fell 5% to INR 859.55, the lowest level in nearly four years. While the new Chief Executive Officer Aasif Malbari retained the company's guidance for the financial year 2026-27 (Apr-Mar) on Wednesday, analysts expressed caution over the company's execution and investments.

 

The new CEO outlined his objectives in the company's latest investor call on Wednesday. However, the market reaction showed investors were still concerned about future plans. Brokerage Nomura said in a report that Godrej Consumer is still in the investment phase and its management has called for inventory correction, which will impact revenue growth by 1.5-2% in the coming quarters. The company's profitability will also be impacted due to planned investments of INR 2 billion over the next 12 months, Motilal Oswal Financial Services said in a report. 

 

The company retained its guidance for FY27 with standalone volumes likely to rise in high single digit, consolidated revenue growth seen in double digits, and growth in consolidated earnings before interest, tax, depreciation, and amortisation seen in double digits. However, achievements of these milestones will be critical for the stock, Motilal Oswal said.

 

Despite caution over execution, brokerages have retained their "buy" recommendation for the stock due to attractive valuations. Nomura, Motilal Oswal, and HDFC Securities retained their target prices of INR 1,100-INR 1,150. This implies a 26–32% upside from the current trading price.

 

At 1102 IST, shares of the company were trading down 3.6% at INR 872.55 on the National Stock Exchange. More than 3 million shares have traded so far Thursday, which is more than twice the three-month daily average volume of 1.4 million shares. The stock has fallen nearly 15% since the previous CEO's exit on Aug. 11. (Ayush Jaiswal)

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Equity Alert: Indices open higher as banks soar on higher FCNR(B) deposits 

 

MUMBAI--0939 IST--Benchmark indices opened higher Thursday on gains in banking stocks, which led the rise after the Reserve Bank of India reported better-than-expected foreign fund inflows through the special foreign exchange swap window and strong mobilisation of foreign currency non-resident (banks) deposits. A pause in global bond sell-off also aided sentiment. The rupee opened higher as well.

 

At 0939 IST, the Nifty 50 was at 24001.45, up 87 points or 0.4%, and the BSE Sensex was at 76840.86, up 270.51 points or 0.4%. The domestic currency opened at 94.3000 on Thursday, sharply up from 94.9700 at Wednesday's close.

 

The Reserve Bank of India said the special foreign exchange swap window attracted total foreign exchange inflows of $136.38 billion as of Monday. The FCNR(B) deposits garnered $127.23 billion. Inflows into the schemes were sharply higher than expectations. "The implication of this from the market perspective is that the rupee will stabilise, imparting confidence to FIIs (foreign institutional investors)," V K Vijayakumar, chief investment strategist at Geojit Investments, said in a note. 

 

Banking stocks provided much-needed support to the Nifty 50 index, which had opened lower for three consecutive sessions. Heavyweights ICICI Bank and HDFC Bank gained nearly 2% and 1%, respectively. Axis Bank and State Bank of India gained around 1?ch. Nifty PSU Bank and Nifty Private Bank rose around 1?ch. "... the huge FCNR(B) mobilisation by banks will help improve their NIMs (net interest margins). This is positive for banking stocks," Vijayakumar said. 

 

Adani Ports and Special Economic Zone was the top gainer among the Nifty 50 constituents, up over 2%. Coal India rose nearly 2%. Metal players Tata Steel and JSW Steel were up around 1?ch. Power Grid Corp. of India, HDFC Life Insurance Co., Adani Enterprises, and NTPC rose around 1?ch. On the other hand, information technology companies were the major laggards – Tech Mahindra, HCL Technologies, Infosys, and Tata Consultancy Services fell around 1?ch. InterGlobe Aviation fell nearly 1%. 

 

Broader market indices were mixed – Nifty small-cap indices rose 0.7-0.8%, while Nifty mid-cap indices were mixed. Nifty Midcap 50 fell nearly 0.1%, Nifty Midcap 150 rose 0.2%, and the Nifty Midcap 100 was flat. 

 

In the Nifty 200, Solar Industries India and SBI Cards and Payment Services rose around 4?ch. Godrej Consumer Products was the worst-hit stock in both the Nifty 200 and Nifty 500 indices, down nearly 4?ch. In the Nifty 500, Anant Raj was the top gainer, up nearly 7%.  (Adhithya Aji)

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Equity Alert: Asian markets rise after some regional bond yields decline

 

MUMBAI--0830 IST--Major Asian indices rose as global treasury yields remained largely unchanged with some even falling marginally, while crude oil prices were largely rangebound. The November futures contract of Brent crude oil was moving in a range of $95-$96 per barrel on Thursday.

 

Japan's 10-year government bond yield was down Thursday by around 4 basis points to 2.970?ter touching a three-decade high of 3.015% Wednesday. Australia's 2-year and 10-year bond yields were down 5 bps and 4 bps, respectively, according to a Dow Jones Newswire report. Sentiment in the bond market improved after comments by the New York Federal Reserve President John Williams in an interview with CNBC, where he indicated that he saw no clear reason for the regulatory body to raise rates.  

 

Japan's Topix index was up 1%, while the Nikkei 225 was up only marginally. Shares of heavyweight SoftBank Corp. were up nearly 3% and Toyota Motor Corp. shares rose over 1%. Mitsubishi Corp. and Nomura Holdings were up nearly 5% and 3%, respectively. China's CSI 300, Hong Kong's Hang Seng and South Korea's Kospi were nearly 1% higher.   

 

Following are the key levels of indices in the region at 0755 IST:  

 

Index	Level	Change in %
Nikkei 225 Day	64429.71	0.2
TOPIX FIRST SECTION	4121.82	1.0
S&P/ASX 200 Index	9003.2	0.3
KOSPI Index	6622.25	0.9
Hang Seng Index	25462.42	0.6
CSI 300 Index	4574.89	0.6
FTSE Singapore Strait Times	5775.75	0.6

 

(Vidhi Thacker)

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Equity Alert: Nuvama ups Tata Power to 'buy', raises target price to INR 421

 

MUMBAI--0815 IST--Nuvama Institutional Equities upgraded Tata Power to 'buy' from 'hold' and raised the bull case target price for the stock by 5% to INR 421. The brokerage's revised target price implies nearly 16% upside from Wednesday's closing of INR 364.

 

The brokerage raised the target price after factoring in its unpriced pumped storage and transmission projects, which are expected to drive growth through 2029-30 (Apr-Mar). Further, the company's growth will also be aided by its new ventures of manufacturing solar ingots and wafers, which should also help increase margins. The commissioning of the company's 2.8 gigawatts of pumped storage projects will add nearly INR 6 billion to its annual cash flow and lead to a further rating revision after FY29, the brokerage said in a report.

 

Shares of Tata Power recently fell after the Singapore International Commercial Court dismissed its appeal against an earlier order requiring Tata Power to pay $490 million in damages to Kleros Capital Partners. Nuvama said the overhang from this arbitration is largely priced into the stock.  (Ayush Jaiswal)

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Equity Alert: Indices seen sideways as crude weighs on sentiment

 

MUMBAI--0820 IST--Indices are expected to move sideways Thursday as elevated crude oil prices continue to weigh on the market. The West Asia war continued to weigh on investor sentiment. Meanwhile, Asian markets opened higher on a pause in the global bond selloff, while US indices ended lower. 

 

The global bond selloff eased after Federal Reserve Bank of New York President John Williams, in an interview with CNBC, said evidence shows no need right now for a change in interest rate policy amid the West Asia war. Japan's 10-year government bonds fell 4 basis points to 2.970% on Thursday. This follows government debt touching a three-decade high of 3.015% Wednesday. All Asian indices were higher in early trading, with South Korea's Kospi leading the region, up over 1%.

 

However, the situation in West Asia is likely to keep investor sentiment cautious. The US Navy continues to strictly enforce the blockade against Iran, US Central Command said in a social media post. US President Donald Trump said the US is ready to strike Iran "at any time", but he does not expect the recent escalation to last long, Al Jazeera reported. Trump added that Washington has "almost total control" of the Strait of Hormuz, the report said.

 

"Technically, the Nifty index has multiple supports in the 23800–23600 spot zone, and the possibility of a bounce-back rally up to 24000 spot cannot be ruled out at this juncture," Vipin Kumar, senior technical and derivatives analyst at Globe Capital Market, said. The close above 24000 would trigger a positive development that could take it higher towards 24200 levels in the near term, Kumar added.

 

On the stocks front, Nuvama Institutional Equities upgraded Tata Power Co. to 'buy' from 'hold'. The brokerage has a bear target price of INR 363 and a bull case price view of INR 421. The stock corrected around 8?ter an adverse ruling by the Singapore International Commercial Court on a challenge to arbitration proceedings initiated by Kleros Capital Partners Ltd. against the company. The brokerage expects meaningful upside from unpriced pumped hydro storage projects and a tariff-based competitive bidding pipeline, and sees cash flow contribution from around 2028-29 (Apr-Mar) to FY30.  (Adhithya Aji)

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Equity Alert: US indices up as bond yields unch post multi-year high earlier

 

MUMBAI--0735 IST--Major US indices ended higher Wednesday as US bond yields largely remained unchanged after rising to new highs in past few sessions. Oil prices rose slightly due to the clashes between the US and Iran with the November Futures contract of Brent Crude Oil Wednesday ending around 1% higher at $95.63 per barrel. Thursday, Brent crude oil futures gained only marginally.

 

Yields on the US 2-year Treasury bond and the 10-year Treasury note fell marginally after reaching yearly highs in the session, according to a Dow Jones Newswire report. The 30-year bond yield remained unchanged after five-sessions of gains. 

 

The S&P 500 ended 0.6% higher, while the Nasdaq Composite and the Dow Jones Industrial Average closed higher by 0.5?ch. "The key driver is oil," Jay Hatfield, CEO of Infrastructure Capital Advisors, told CNBC. "That's why the market is able to get a little rally today, because oil's topping out," he added. 

 

Shares of Nvidia Corp. ended over 3% higher, supporting the Dow Jones index. Shares of other heavyweights such as American Express and Walt Disney also closed nearly 2% higher. Among sectors, shares of airlines, gold and silver mining, and regional banks ended higher and were the outperformers, a Reuters report said.

 

Shares of Dell Technologies gained nearly 16?ter increasing its annual profit and revenue predictions. Brown-Forman shares also ended nearly 4% higher after its quarterly earnings beat expectations, the Reuters report said.

 

Following are the closing levels of key indices in the region: 

 

Index	Level	Change in %
Dow Jones Industrial Average	53061.95	0.6
NASDAQ Composite	26217.83	0.5
S&P 500	7666.60	0.5

 

(Vidhi Thacker)

 

US$1 = INR 94.45

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

 

Edited by Deepshikha Bhardwaj

 

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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NYSE: New York Stock Exchange
NYMEX: New York Mercantile Exchange
SEBI: Securities and Exchange Board of India
RBI: Reserve Bank of India

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