Equity Alert
Birlasoft rises to 4-mo high; Q2 PAT, revenue beat estimates
This story was originally published at 11:56 IST on 29 October 2026
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Equity Alert: Birlasoft rises to 4-mo high; Q2 PAT, revenue beat estimates
MUMBAI--1111 IST--Shares of Birlasoft rose over 12% to an over 4-month high as the company's consolidated net profit and revenue for the September quarter beat analysts' estimates. The technology company's net profit was INR 1.60 billion for the reporting quarter, down marginally from INR 1.61 billion in the trailing quarter, while its revenue for the quarter was INR 14.16 billion, up almost 3% sequentially. The company's total expenses grew almost 5% on quarter to INR 12.34 billion.
Nuvama Institutional Equities highlighted that the company's execution has improved but softer deal wins remain a concern. The company's sustained growth depends on how it converts artificial intelligence-led opportunities, the brokerage said. Nuvama revised its target price marginally to INR 300 from INR 280 while maintaining its "hold" recommendation. The company's revenue in dollar terms was $148.30 million, up 2% sequentially, and this was after seven weak quarters, the brokerage noted. "We continue to await signs of a sustainable turnaround while valuations are close to bottoming out," the brokerage said.
Nomura also revised its target price slightly to INR 330 from INR 310 and retained its "neutral" call. Nomura highlighted that the key challenge for the company in the financial year 2024-25 (Arp-Mar) and FY26 was weak deal wins. The company's efforts to revamp its sales team and focus on large accounts to secure growth will take time to reflect, the brokerage said. The timely closure of large deals is important to improve the company's revenue growth outlook, the brokerage added.
At 1111 IST, shares of the company traded over 8% higher at INR 331.90 apiece on the National Stock Exchange. Nearly 23 million shares of the company have traded so far, nearly 12 times its three-month average daily traded volume. (Vidhi Thacker)
Equity Alert: Analysts wary about low volume, margin hitting HUL growth path
MUMBAI--1056 IST--Brokerages were cautious about Hindustan Unilever's growth trajectory going ahead, though the company reported a healthy set of earnings for the quarter ended September. Analysts were wary of lower volume growth in the near foreseeable future. High commodity prices also remain a concern for investors. They anticipate that the fast-moving consumer goods company may not be able to entirely pass on the high costs to its customers.
The top-line growth for the company is expected to be steady for HUL but volumes remain a concern. The base for volume growth is higher for the second half of 2026-27 (Apr-Mar), Systematix Shares and Stocks (India) said. The sharp reduction in brand investments invites questions about volume support even though the company said it will contain its spending on advertising and promotions. Inconsistency in the company's performance in mass soaps, skin care, oral care, and tea also raises concerns about volume growth, the brokerage said. Besides volume-linked worries, concerns about high input costs for the company also persist. The brokerage increased its estimates for the company's earnings per share for FY27–FY29 by 1-2%. Systematix retained its "hold" recommendation on the stock with a target price of INR 2,015.
Driven by price hikes, the consumer giant's consolidated volumes improved 7% on year, which is above Nomura's estimate of a 5% rise. The growth in volumes for Jul-Sept is commendable, but it is on a flat base and indicates a two-year compounded annual growth rate of 3.5% on year. This growth rate is likely to sustain. "...A weak monsoon / droughts in many states can have a likely impact on rabi crop / rural demand in coming quarter which could pressure volume growth further," Nomura said. On the margin front, the company has managed to pass on the absolute rise in prices and this indicates that it will only see a partial growth reversal in margins in the coming quarters, the brokerage said. Nomura revised its target price on the stock lower to INR 2,100 and retained its "buy" stance.
However, while margin pressures may persist due to the current inflationary scenario, there is a possibility that the company may gain some benefits on the market share front. "We believe inflationary scenario augurs well for HUL as it accelerates share gains from unorganised/regional players," JM Financial Institutional Securities said. The brokerage has a target price of INR 2,225, and it maintained its "buy" stance on the stock.
HUL had reported its earnings for the September quarter during trading hours Wednesday. HUL had reported a standalone net profit of INR 28.44 billion for the quarter ended September, up 6% on year and its revenues from operations rose 15% on year. At 1101 IST, shares of HUL were up over 2% at NR 1,855 on the NSE. (Ruchira Kagita)
Equity Alert: Suryoday Small Fin dn 3% ahead of Q2 earnings
MUMBAI--1035 IST--Shares of Suryoday Small Finance Bank fell over 3% ahead of the company's September quarter earnings, due later in the day.
The bank's net profit for the September quarter is estimated to rise nearly 105% on year to INR 622 million, according to YES Securities (India) Ltd. However, the brokerage expects the profit to be down over 17% on quarter. The small finance bank's net profit in the previous quarter was INR 752 million.
The net interest income of the bank is expected to grow nearly 34% on year and over 9% quarter-on-quarter to INR 3.45 billion in the September quarter, according to YES Securities. The company had reported a net interest income of INR 3.16 billion in the June quarter.
The growth in advances are likely to be in focus for the September quarter. Suryoday Small Finance Bank's total deposits and advances grew at a similar pace as on Sept. 30, provisional data released by the bank showed. Its advances rose 34.6% on year to INR 149.7 billion, while the deposits rose 35% to INR 161.84 billion during the period.
At 1011 IST, the stock was down over 2% at INR 130.37 apiece on the National Stock Exchange, the stock has shed over 32% since the bank announced its June quarter earnings. (Diksha Tripathy)
Equity Alert: Trent down 2% ahead of Q2 results, PAT seen rising 13% on year
MUMBAI--1034 IST--Shares of Trent fell over 2% to an intraday low of INR 2,840 apiece ahead of the company's September quarter earnings, due later in the day. The company is likely to report a healthy rise in its net profit for the quarter, but analysts have mixed views on the company's margin performance as the festival season has partially shifted into the December quarter too.
Trent's sales are expected to rise 21% on year to INR 57.18 billion while its net profit is seen rising nearly 13% to INR 5.08 billion, according to the average of nine estimates. The company's like-for-like sales in the fashion portfolio are seen to grow 1–4% for the quarter. The company added 10 Westside and 17 Zudio stores during the period and its total store count as of Sept. 30 stood at 1,342.
Brokerages are mixed on Trent's earnings before interest, taxes, depreciation, and amortisation margin growth as Nuvama expects it to fall due to higher raw material and leasing costs, while Kotak Securities and Motilal Oswal expect it to grow.
At 1025 IST, Trent's shares traded over 2% lower at INR 2,848 apiece on the National Stock Exchange. Over 223,884 shares of the company had traded so far, down nearly 77% from its three-month average daily traded volumes. (Vidhi Thacker)
Equity Alert: Pine Labs down 1% ahead of Q2 earnings; PAT, NII seen up
NEW DELHI--1000 IST--Shares of Pine Labs Thursday fell nearly 1% ahead of the company's September quarter earnings scheduled for release Thursday. The company is expected to post a sharp on-year rise in its net profit for the reporting quarter led by a rise in revenue from operations.
The financial technology company is expected to post a net profit of INR 500 million, nearly three times the net profit it reported in the June quarter, according to Motilal Oswal Financial Services Ltd. Meanwhile, Emkay Global Financial Services Ltd. expects the company to post a net profit of INR 414 million, which is over two times the net profit it reported in the June quarter.
Brokerages are optimistic on net interest income too. While Motilal Oswal expects Pine Labs to post net interest income of INR 7.90 billion in Jul-Sept, Emkay Global expects net interest income of INR 7.88 billion during the same period.
Emkay Global expects revenue growth to be driven by the company's issuing and acquiring platform, seen rising nearly 28% on quarter as well as by its digital infrastructure and transaction platform, seen rising over 18% on quarter. The fintech company's earnings before interest, tax, depreciation and amortisation margin are likely to improve 270 basis points on quarter to 16.5%. Indirect costs are likely to rise further to INR 4.2 billion from INR 3.8 billion in the year ago quarter, as the company is investing in growth, the brokerage said.
The company will announce its September quarter earnings later in the day. At 0943 IST, the stock was nearly 1% lower at INR 161.70 apiece on the National Stock Exchange. The stock has risen nearly 6% since the company reported its June quarter earnings.
All three brokerage reports on the company available with Informist have a "buy" recommendation for the stock with an average target price of INR 190, which is over 17% higher than the current market price. (Mahima)
Equity Alert: Benchmarks open tad higher, Nifty 50 fails to cross resistance
MUMBAI--0955 IST--Headline indices opened a tad higher, but selling at higher levels limited the rise. The Nifty 50 was firmly above its support level of 22500-22550 points but struggled to cross its immediate resistance of 22800 points. Broader market indices mirrored the benchmarks' moves and posted modest gains. Volatility remained low in early trade, with the India VIX down marginally.
At 0953 IST, the Nifty 50 was at 22754.60 points, up 0.3% and the BSE Sensex was at 73468.38 points, up 0.3%. On the National Stock Exchange, the advance-decline ratio was tilted towards the gainers. Several stocks in the broader market were buzzing on the back of earnings-led sentiment.
Sentiment among market participants is sensed to be cautiously positive Thursday, Hemang Gor, senior research analyst of derivatives and technical research at Axis Direct, said. If the Nifty 50 breaches past 22800 points, then a move towards 23000 is likely. The immediate support for the index is 22500 points and a fall below this level could trigger a move towards 22300 points.
For the Nifty 50, Reliance Industries lent the most support, followed by Kotak Mahindra Bank and Adani Ports and Special Economic Zone. Adani Ports was in focus after the company reported its earnings for the September quarter. The company's consolidated profit was largely in line with expectations while revenue was above the Street's view. The stock of the ports operator gained 2.6% while RIL rose over 1%. On the other hand, HDFC Bank, Larsen & Toubro, and Trent were limiting the rise in the key index. Trent was down over 2% ahead of its earnings for the September quarter. The apparel retailer is expected to post a nearly 13% on-year rise in its net profit to INR 5.08 billion.
"Reports that the chip shortage issue will persist up to 2030 has brought interest back into the chip stocks and AI trade in South Korea and Taiwan," V.K. Vijayakumar, chief investment strategist at Geojit Investments, said in a note. "This means that foreign money will continue to chase AI (artificial intelligence) and AI-related stocks, ignoring India," he said.
Notwithstanding, information technology stocks in India were performing relatively better. The Nifty IT index was up close to 1% in early trade after falling for two consecutive sessions. The IT index was the second-best performer among sectoral indices. Tata Consultancy Services, Infosys, and HCL Technologies gained around 1?ch while Wipro rose 2% and Oracle Financial Services Software gained 3%.
Meanwhile, in the IT space, Hexaware Technologies was down over 1%. The company's consolidated net profit was above estimates, but the company's earnings before interest and taxes margin narrowed to 13-13.5% from 13-14?rlier. Birlasoft was up almost 11?ter the company posted its Jul-Sept earnings. New deals in the second half of this fiscal year are seen as a key positive. Birlasoft was the top gainer in the Nifty 500. (Ruchira Kagita)
Equity Alert: Capital Small Finance Bank up 3% ahead of Jul-Sept earnings
NEW DELHI--0945 IST--Shares of Capital Small Finance Bank rose nearly 3% ahead of its September quarter earnings Thursday. The small finance bank is expected to post a sharp year-on-year rise in net profit for the reporting quarter, driven by loan book growth.
For the September quarter, the small finance bank is expected to post net profit of INR 471 million, up 35% on year and 14% on quarter, according to Equirus Securities Pvt. Ltd.
Equirus Securities expects the bank to post net interest income of INR 1.40 billion for the reporting quarter, up over 25% on year and almost 5% on quarter. The bank's loan growth is expected to rise 23% on year and 7.5% on quarter, supported by 8.5% on-quarter growth in disbursements. Deposit growth is likely to rise 16% on year. Net interest margin is expected to be stable on a quarterly basis, while credit costs are expected to decline sequentially.
Analysts will monitor loan growth in micro, small and medium enterprise businesses, the asset quality of agriculture loan books given the weak monsoon, and the impact of El Nino on business growth.
The bank will detail its September quarter earnings Thursday. At 0945 IST, the bank's share traded at INR 259.85 on the National Stock Exchange, up nearly 3%. The stock has fallen 11% since the bank reported its June quarter earnings on Jul. 23.
A single brokerage report on the small finance bank available with Informist has a 'buy' recommendation on the stock, with a target price of INR 460. (Mahima)
Equity Alert: Oil prices to keep indices rangebound; Q2 earnings in focus
MUMBAI--0833 IST--Benchmark indices are expected to be rangebound in the near term as caution likely prevails amid uncertainty over the US-Iran war and its impact on oil prices, according to analysts. Early Asian trading was mixed after the US Federal Reserve kept its policy rate unchanged at its October meeting, in line with expectations. September quarter earnings are expected to continue driving stock-specific movement in the near term, with Nifty 50 constituents Asian Paints, Coal India, and InterGlobe Aviation set to announce results Thursday.
Early Asian trading was subdued, with many indices plunging into the red, while some posted marginal gains. The South Korean KOSPI fell more than 2%, the region's worst performer, while Japan's Nikkei 225 gave up early gains and turned flat. Sentiment among global investors remains cautious after the US Federal Reserve kept its policy rate unchanged at its October policy meeting, in line with expectations. In its policy statement, the Federal Open Market Committee noted that inflation remains elevated and reiterated that the committee will adopt a policy stance that prioritises a return to its 2% inflation target. Global investors will now look to policy decisions from the European Central Bank later Thursday and the Bank of Japan on Friday.
Benchmark indices ended lower for the second session on Wednesday as oil prices rose. Analysts attributed the rise to the US-Iran war and the resulting geopolitical risks in West Asia, which have added to crude oil's risk premium. The Nifty 50 ended at 22698.85, down 50.90 points, or 0.2%, while the Sensex closed at 73246.03, down 352.64 points, or 0.5%. In the near term, support for the 50-stock index is seen at 22600–22490 points and resistance at 22830-22950, according to technical analysts. At 0815 IST, GIFT Nifty November futures were at 22686 points, slightly below Nifty's previous close. Oil prices moderated 0.6% to $114.59 per barrel as traders assessed fresh diplomatic efforts in West Asia to prevent a possible resumption of US military strikes on Iran.
Among large-cap stocks, Asian Paints will be in focus, ahead of its September quarter earnings. For Jul-Sept, the paintmaker's consolidated net profit is pegged at INR 11.27 billion and revenue at INR 97.15 billion, according to the average of brokerage estimates. Consumer durables major Trent is expected to see a healthy rise in net profit for the September quarter, even as analysts are divided on the company's margin performance. For Jul-Sept, the Tata-group company's net profit is expected to be INR 5.08 billion, while revenue is pegged at INR 57.18 billion, according to brokerage estimates. Shares of GMR Airports and Hexaware Technologies will be in focus after the companies announced their September quarter results. Market participants will also watch Jio Platforms shares after the company's listing on Wednesday. (Shruti Nair)
Equity Alert: Asian indices fell as investors weigh several Q3 earnings
MUMBAI--0830 IST--Most Asian indices fell Thursday as investors assessed the Federal Reserve's decision to hold interest rates steady, which was in line with expectations. Investors also weighed the September quarter earnings of technology majors, Advantest and Samsung Electronics. Among indices, South Korea's Kospi fell the most, down over 2%, while China's CSI 300 fell over 1%. Brent crude oil futures remained elevated around $114 per barrel over concerns regarding the war in West Asia.
South Korean technology giant Samsung Electronics fell 6% despite the company reporting its September quarter earnings, which were mostly in line with expectations as demand for advanced memory chips grew. Samsung also announced a partnership with French artificial intelligence company Mistral AI to be used in its semiconductor operations. SK Hynix was up nearly 1%, supporting some gains in Kospi.
In Japan, the Nikkei 225 remained flat while its broader Topix First Section fell marginally. Shares of heavyweights SoftBank Group Corp. and Tokyo Electron fell nearly 1%. Meanwhile, Advantest Corp. rose over 5?ter the company raised its full-year outlook on expectations that strong market conditions will continue into next year. "Barring geopolitical risks and macroeconomic factors, we expect the industry to remain supply constrained, with end-customer demand continuing to exceed supply in CY27," the company said, as quoted by CNBC.
China's CSI 300 fell while Hong Kong's Hang Seng remained flat. Gains in the Hang Seng were led by the healthcare and energy sectors. In China, information technology majors Zhongji Innolight and Eoptolink Technology fell 6% and 9%, respectively.
Following are the levels of key Asian indices at 0800 IST:
|
Index |
Level |
Change in % |
|
Nikkei 225 Day |
63945.08 | (-)0.01 |
|
TOPIX FIRST SECTION |
3980.63 | (-)0.28 |
|
S&P/ASX 200 Index |
8887.70 | 0.46 |
|
KOSPI Index |
5865.59 | (-)2.44 |
|
Hang Seng Index |
23092.95 | (-)0.01 |
|
CSI 300 Index |
4030.77 | (-)1.30 |
|
FTSE Singapore Strait Times |
5421.27 | 0.43 |
(Vidhi Thacker)
Equity Alert: US indices up Wed as Fed keeps interest rates unchanged
MUMBAI--0735 IST--Key indices in the US rose Wednesday as investors reacted to the US Federal Reserve keeping interest rates unchanged in the target range of 3.75-4.00%. Investors assessed more September quarter earnings results and moved attention to the "Magnificent Seven" giants Alphabet and Microsoft reported earnings after market hours.
Investors had expected the US Fed to keep interest rates unchanged at the October meeting but are expecting a 78% chance of a 25-basis-point hike in December, according to the CME FedWatch tool. "Nothing from today rules out another 25 bp hike before year-end. The key question for markets is the pace of tightening, and the Committee seems content to unwind last year's cuts at a measured pace which historically has been more favourable for risk assets," Jeff Schulze, head investment strategist at Franklin Templeton Institute, told CNBC.
On the stock front, shares of software giant Oracle rose nearly 11?ter the company provided a revenue outlook of $225 billion for the financial year 2029-30. Semiconductors moved higher, with SK Hynix up over 13?ter it posted better-than-expected earnings. Shares of Micron Technology and Arm Holdings rose nearly 6% and 5%, respectively, while Marvell Technology and Advanced Micro Devices gained 3?ch.
Post market hours, Microsoft reported its September quarter earnings that beat estimates. The company's Azure cloud revenue rose 48% to $33.2 billion. On other hand, Alphabet's revenue for the quarter missed expectations and was a worrying sign for the artificial intelligence trade, according to CNBC.
Following are the ending levels of key US indices Wednesday:
|
Index |
Level |
Change in % |
|
Dow Jones Industrial Average |
52475.10 | 0.2 |
|
NASDAQ Composite |
26549.85 | 0.3 |
|
S&P 500 |
7743.98 | 0.3 |
(Vidhi Thacker)
US$1 = INR 95.36
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.
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