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Informist, Monday, Sept. 7, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Fall in IT, fincl svcs cos keep mkt down; Maruti Suzuki up 1%

 

MUMBAI--1250 IST--Benchmark indices remained lower, dragged down by information technology and financial services stocks. Maruti Suzuki was the top gainer in the Nifty 50 and was up nearly 1%. Shares of the company were up after the carmaker announced a price hike of INR 20,000 on select models. At 1226 IST, the Nifty 50 was at 23767.40, down 130.30 points or 0.6%, and the BSE Sensex was at 76069.62, down 445.81 points or 0.6%.

 

Information technology stocks were the major laggard, dragging down the Nifty 50 index. Infosys fell further and was down more nearly 4%. Tech Mahindra, HCL Technologies, Wipro, and Tata Consultancy continued to fall and were down around 2?ch. Automobile stocks were mixed, with Maruti Suzuki and Eicher Motors rising 0.5-1%, while Bajaj Auto and Tata Motors Passenger Vehicles falling 1?ch.  

 

Insurance company stocks were the worst hit among financial services. HDFC Life Insurance and SBI Life Insurance were down 1–2%. Shares of Jio Financial Services, State Bank of India, and Axis Bank were down 1–2% as well. Contrary to this, shares of the heavyweight ICICI Bank were up around 0.4%. Saturday, the Reserve Bank of India had allowed Life Insurance Corp. of India to purchase a stake of 9.99% in the bank.   

 

In the broader market, indices remained mixed, with small-cap indices gaining 0.1–0.3% while the mid-cap indices remained lower around 0.5?ch. Nifty Auto was up marginally after falling earlier, while Nifty Media remained the worst hit among sectoral indices.   

 

In the Nifty 200, Bosch became the top gainer and was up over 3%, while Steel Authority of India was the worst hit, falling to nearly 5%. Among the Nifty 500, Syrma SGS Technology was the top gainer as it rose further and was up over 9%. Shares of Zee Entertainment were the worst hit in the 500 index and were down 6%, while PVR Inox came off lows a little and was down 5%.  (Vidhi Thacker)

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Equity Alert: Brokerages positive on HUL post new growth strategy roll out

 

 

MUMBAI--1212 IST--Brokerages took a positive stance on Hindustan Unilever after the fast-moving consumer goods major rolled out its new strategy named "Winning in New India" for the coming years. The company plans to invest 3% of overall turnover in capital expenditure in the next five years. This is higher than 2% spent in the last five years. Analysts said the company will target volume-led growth through a combination of rising consumption, premiumisation, and market development.

 

Hindustan Unilever's strategy is based on expectations the Indian market will grow bigger and the country will have more robust economic growth. The company aims to focus on under-penetrated categories such as liquids, body wash, and premium personal care products. The company will target a 500 basis point gain in margin over five years. This is expected to be aided by a premium mix, operating leverage, savings, and artificial intelligence-led media efficiencies which should provide greater flexibility to reinvest in brands while maintaining profitability. 

 

"HUL has outlined consumption growth, premiumisation, market-making, and new spaces as the four key growth vectors," Nirmal Bang Institutional Equities said. The management expects around 80% of the growth to continue coming from the existing portfolio and around 40% from market-making opportunities. Hindustan Unilever aims around 20% revenue from new spaces, which implies that the core portfolio remains the primary earnings driver. "...we remain structurally positive on HUL's medium-term growth prospects, supported by premiumisation, portfolio transformation, deepening rural penetration, and wide distribution network," Nirmal Bang said. 

 

The competitive intensity is likely to remain high in home care and soaps, however, the company's initiatives in beauty and wellbeing are expected to offset this pressure, according to Motilal Oswal. The new strategy is expected to address the growth challenges that have persisted over the past few years. The FMCG major has reset its growth model towards volume growth and market development. "Moreover, continued sequential improvement in sales growth, alongside share gains, offers early validation," the brokerage added.

 

At 1208 IST, shares of Hindustan Unilever were at INR 1,962, down 0.6% from Friday. Over 279,000 shares of the company have changed hands on the NSE so far, lower than over 640,000 shares traded till the same time Friday.  (Adhithya Aji)

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Equity Alert: Motilal Oswal says 'buy' V2 Retail; target price set at INR 275

 

MUMBAI--1135 IST--Motilal Oswal Financial Services has initiated coverage on V2 Retail with a "buy" recommendation. The brokerage has set a target price of INR 275 on the company's shares. This implies a 27% upside from the closing price Friday. At 1127 IST, the stock was trading 3% higher at INR 222.79 on the NSE. Over a million shares of the company have been traded so far Monday, almost equal to its three-month daily average volume. 

 

The brokerage expects V2 Retail's revenue to grow at 40% compounded annual growth rate between financial year 2025-26 (Apr-Mar) and FY29. The company's earnings before interest, tax, depreciation, and amortisation are likely to grow at a 38% compounded annual growth rate in the same period, while its net profit is expected grow 35%. This will be driven by nearly 450 store additions, around 5% same-stores sales growth, and fixed-cost dilution on scaling network. 

 

Same-store sales growth is a key earnings lever for V2 Retail. A 1% rise in same-store sales growth leads to a 7–11% rise in EBITDA and profit, Motilal Oswal said in a report. The company's robust store economics supports rapid expansion, deep cluster-led penetration across under penetrated markets, and opportunities in Tier-2 and Tier-3 cities are key positives for the company, the brokerage said. 

 

The company has a runway to have around 770 stores by FY29 through both new-market entry and deeper penetration of existing clusters, according to Motilal Oswal said. The brokerage expects the company's EBITDA margin to moderate to about 9% through FY29 as rapid store additions are seen temporarily diluting its operating leverage.

 

However, the brokerage anticipates some risks for the company. These include execution and site-selection risk due to rapid expansion, an increase in competition from domestic value-fashion players. Since in-house design scales beyond 35-40%, the company also faces higher assortment risk. This could hit margins, sell-through, and store returns.  (Ayush Jaiswal)

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Equity Alert: Indices fall further, IT, financial svcs weigh dn; RIL down 1%

 

MUMBAI--1134 IST--Benchmark indices fell further with information technology stocks being a major drag on them. Index heavyweights and financial services companies were down as well. Infosys and Reliance Industries weighed heavily on the Nifty 50. Nifty Media was down 2.5% and shed the most among the sectoral indices. At 1133 IST, the Nifty 50 was at 23767.85 points, down 129.85 points, or 0.5%, and the BSE Sensex was at 76096.73 points, down 418.70 points, or 0.5%. 

 

Apollo Hospitals Enterprise was the top gainer among the few stocks that were in green. It rose over 1%. Larsen & Toubro, Power Grid Corp. of India, and Eicher Motors gained around 1?ch. On other hand, IT stocks were  the worst hit. Tech Mahindra, HCL Technologies, Tata Consultancy Services, and Wipro were down over 1?ch. IT shares fell on strong expectations of an intrest rate hike by the US Federal Reserve post stronger-than-expected US jobs data. Indices in US fell after the date release.

 

Metal companies Tata Steel, Hindalco Industries, and JSW Steel fell 1-2%. Shares of Trent and UltraTech Cement fell around 2?ch. Financial services companies Jio Financial Services, SBI Life Insurance Co., HDFC Life Insurance Co., and Shriram Finance fell around 1?ch as well.      

 

Broader market indices remained mixed with small-cap indices up 0.1-0.2% while the mid-cap indices fell around 0.5?ch. Among the sectoral indices, Nifty India Defence, Nifty Pharma, and Nifty Healthcare were the top gainers. They were up around 1?ch.

 

In the Nifty 500, PVR INOX was among the worst hit stocks after the discovery of INR-2-blillion fraud by a senior executive. A media report saying an FIR registered against chairman emritus of Zee Entertainment Enterprises pushed its shares down. PVR INOX and Zee Entertainment were the worst hit stocks, down nearly 8% and 6%, respectively.    

 

Among the Nifty 200, Steel Authority of India fell nearly 4%. Meanwhile, shares of telecom operator Vodafone Idea rose nearly 4%. Amomg the Nifty 500, Syrma SGS Technology and Zydus Wellness rose over 7% and were the top gainers.  (Deesha Jadhav)

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Equity Alert: Purple Style Labs lists at 6-7% discount to issue price

 

MUMBAI--1035 IST--Shares of Purple Style Labs listed at INR 535 on the National Stock Exchange and at INR 539 on the BSE. The shares listed at a 6-7% discount to its issue price of INR 575. The stock touched an intraday high of INR 588.90 on the NSE, up over 2% from its issue price.

 

However, the stock pared its gains and slipped into the red. At 1035 IST, the stock traded at INR 566.30 on the NSE, down 1.5% from its issue price. Over four million shares of Purple Style Labs changed hands on the bourse. Trading volumes in the stock on the NSE were over nine times higher compared with the BSE. 

 

Purple Style Labs' initial public offer was subscribed over 1.29 times, with bids placed for 8.87 million shares against the 6.85 million on offer. The company had allocated 5.32 million shares at INR 575 apiece worth INR 3.06 billion to anchor investors.

 

Purple Style Labs runs the multi-brand designer platform, Pernia's Pop-Up Shop. It offers designer wear for weddings and occasions, with products spanning clothing, kidswear, jewellery, and accessories. For the financial year 2025–26 (Apr-Mar), the company had reported a consolidated net loss of INR 2.85 billion on revenues of INR 5.58 billion.  (Ayush Jaiswal)

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Equity Alert: Market opens down on higher crude, global cues; IT shrs fall

 

MUMBAI—0943 IST--Benchmark indices opened lower Monday amid elevated crude oil prices and negative global cues. Crude oil prices were near $97 per barrel, while stronger-than-expected US jobs data heightened expectations of an interest rate hike by the US Federal Reserve. Information technology shares were the major laggards. At 0941 IST, the Nifty 50 was at 23842.15, down 55.55 points or 0.2%, and the BSE Sensex was at 76342.59, down 172.84 points or 0.2%.  

 

Bharti Airtel, ICICI Bank, and Coal India were the top gainers in the Nifty 50. These shares rose around 1?ch. Information technology major Infosys was the worst-hit Nifty 50 constituent, down nearly 3%. Its peers Wipro, HCL Technologies, Tata Consultancy Services, and Tech Mahindra fell 1-2%. Bajaj Auto, UltraTech Cement, SBI Life Insurance Co., and HDFC Life Insurance Co. fell around 1?ch. Metal companies JSW Steel and Tata Steel also fell around 1?ch.    

  

The broader market indices were mixed. Small-cap indices were largely flat, and mid-cap indices were down 0.2-0.3%. Nifty Media was the worst-hit sectoral index, down nearly 3%. Media entertainment majors PVR INOX and Zee Entertainment Enterprises dragged the sectoral index lower. They fell over 7% and nearly 5%, respectively. PVR INOX shares fell after a company executive was asked to leave following an internal investigation that revealed alleged kickbacks from real estate developers involved in building cinema theatres. The kickbacks were made over several years and aggregate to around INR 2 billion, the Economic Times reported. 

 

Zee Entertainment Enterprises' shares fell after a media report said the Central Bureau of Investigation registered a first-information report against the company's Chairman Emeritus Subash Chandra. The report pertains to the alleged fraud involving over INR 13.22 billion loan extended by LIC Housing Finance.

 

Vodafone Idea, Supreme Industries, and CG Power and Industrial Solutions were the best-performing stocks in the Nifty 200, rising around 2?ch. In contrast, Steel Authority of India's shares fell more than 3%, making it the biggest laggard in the index. Jindal Steel fell nearly 2%.  (Adhithya Aji) 

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Equity Alert: Market seen opening down as West Asia war keeps crude elevated

 

MUMBAI--0835 IST--Indices are expected to start the week lower as the war in West Asia continues to weigh on investor sentiment. Over the weekend, the US and Iran exchanged attacks, pushing crude oil prices higher to nearly $97 per barrel. Stronger-than-expected US jobs data have raised expectations of a Federal Reserve interest rate hike.

 

The Nifty 50 index is trading close to the support zone 23600-23800 of the past two-and-a-half-month consolidation phase, Vipin Kumar, senior technical and derivatives analyst at Globe Capital Market, said. A sustained move above 24000 is expected to lead the index towards 24200 and higher levels in the near term. "Hence, we suggest that traders maintain a stock and sector-specific trading approach as long as the index is hovering within this consolidation phase," Kumar said. 

 

Reports said Iran plans to announce a new 'exclusion zone' near the Strait of Hormuz, aimed at vessels it believes are attempting to transit the waterway. This comes after the US targeted three Iranian oil tankers in retaliation for Tehran's attack on US warships. Crude oil prices remained elevated as energy supply concerns persist due to the ongoing war. Data from Kpler revealed that shipping traffic through the Strait of Hormuz has fallen to its lowest level since May, despite the US claims that the Navy is escorting more ships through the waterway. 

 

The US Treasury yields rose after the jobs report, with the 2-year Treasury yield rising more than 4 basis points to 4.377% and reaching its highest level since January 2025 during the day. The 10-year Treasury yield settled at 4.78%, up 1 bp from Thursday. This follows the US employment report for August, which showed non-farm payrolls increased by 162,000 and the unemployment rate was unchanged at 4.1%. Economists polled by Reuters expected job additions of 56,000. This reading has raised expectations of a rate hike by the US Federal Reserve. 

 

Starting Monday, the exchanges have revised the pre-open framework to align it with the new closing auction system introduced in March. Under the new system, from 0905 IST to 0910 IST, no market orders can be placed or revised. The random closing mechanism will now take place between 0908 IST and 0910 IST, instead of 0907 IST. (Adhithya Aji) 

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Equity Alert: US indices end lower Fri after jobs data raises rate-hike risk

 

MUMBAI--0745 IST--Major US indices closed lower Friday, and Dow Jones futures fell further Monday after a better-than-expected August employment report raised the probability that the US Federal Reserve may hike interest rates at its monetary policy meeting later this month. US Treasury yields rose after the jobs report, with the 2-year Treasury yield rising more than 4 basis points to 4.377% and reaching its highest level since January 2025 during the day. The 10-year Treasury yield settled at 4.78%, up 1 bp from Thursday.

The US employment report for August showed that non-farm payrolls grew by 162,000 and the unemployment rate was unchanged at 4.1%. Economists polled by the Dow Jones expected the rise at 53,000. "Net, net, the labor market is alive and well and generating thousands of new jobs to help keep economic growth squarely in the plus column," Chris Rupkey, chief economist at Fwdbonds, told CNBC. Financial markets were pricing a 58% possibility of a rate hike in the next Federal Reserve meeting, up from 49% on Thursday, according to the CME FedWatch Tool. 

 

The Dow Jones Industrial Average was hit hardest among its peers and ended 0.5% lower Friday. Index heavyweights UnitedHealth Group and Microsoft Corp. were down nearly 1% and 2%, respectively. The Nasdaq Composite and S&P 500 were down 0.3–0.4%. Shares of Tesla were down nearly 6?ter its Cybercab launch. Shares of Lululemon Athletica were down over 17?ter the company cut its full-year earnings forecast, according to a Reuters report. Semiconductor stocks outperformed in the region, while software and services were hit hardest, the report added.     

 

Index	Level	Change in %
Dow Jones Industrial Average	53414.25	(-)0.5
NASDAQ Composite	26506.99	(-)0.3
S&P 500	7718.60	(-)0.4

 

(Vidhi Thacker)

 

US$1 = INR 94.46

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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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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