Good morning!
The GIFT Nifty was trading marginally lower near 25,200 early Friday. The futures contract based on the benchmark Nifty 50 fell 0.07% at 25,243 as of 7:00 a.m. indicating a negative start for the Indian markets.
Across Asia, markets traded mixed. US stock futures showed little movement on Friday after both the S&P 500 and Nasdaq Composite finished lower in the previous session, retreating from their recent record levels. On Thursday, both major indices pulled back from fresh intraday highs, pausing after recent gains as the US government shutdown continued.
Markets On Home Turf
The benchmark indices slightly underperformed in comparison to the broader market indices on Thursday. The Nifty 50 closed 0.54% higher at 25,181.80, while the Sensex closed 0.49% up at 82,172.10.
The foreign portfolio investors on Thursday stayed net buyers of Indian shares for the third day. The FPIs bought stocks worth approximately Rs 1,308.16 crore, according to provisional data from the National Stock Exchange. The DIIs that have stayed net buyers for over a month bought stake worth Rs 864.36 crore.
Catch all the live stock market action here for real-time updates, stock movements, and broader trends throughout the day.
Asian Market Cues
Hang Seng futures dropped 1.5%
Japan’s Topix fell 1.4%
Australia’s S&P/ASX 200 was flat
Euro Stoxx 50 futures were also unchanged.
US Markets Update
The S&P 500 slipped 0.28% to close at 6,735.11
Nasdaq Composite eased 0.08% to end at 23,024.63
At session highs, the S&P 500 had gained 0.2% and the Nasdaq 0.1%.
The Dow Jones Industrial Average declined 243.36 points, or 0.52%, to finish at 46,358.42.
Commodity Check
West Texas Intermediate crude gained 0.2% to trade at $61.61 a barrel
Spot gold increased 0.3% to $3,989.68 an ounce
Spot silver eased gains after touching $50 for the first time since 1980.
London Metal Exchange
Copper rallies after one-day blip, ends 1.9% higher
Aluminium extended gains for the ninth consecutive trading session, closed 1.6% higher
Zinc ended 0.2% higher on Thurrsday after declining 1.4% on Wednesday
Nickel resumed gains after a on-eday blip, closed 1% higher
Lead rallied 1.4% on Thursday
Tin halted three-day losing streak, closed 1.8% higher
Key Events To Watch
At 10 am, NITI Aayog will publish the second paper in its Tax Policy Working Paper Series, titled “Towards India’s Tax Transformation: Decriminalisation and Trust-Based Governance.” The release will be led by B.V.R. Subrahmanyam, Chief Executive Officer of NITI Aayog.
Also at 10 am, the National Archives of India, under the Ministry of Culture, will open an exhibition to be inaugurated by Culture and Tourism Minister Gajendra Singh Shekhawat.
Earnings After Market Hours
TCS Q2 Results Key Highlights (Consolidated, QoQ)
Revenue up 3.7% at Rs 65,799 crore versus Rs 63,437 crore (Bloomberg estimate: Rs 65,206 crore).
Profit down 5.4% at Rs 12,075 crore versus Rs 12,760 crore (Bloomberg estimate: Rs 12,568 crore).
EBIT rises 7% to Rs 16,565 crore versus Rs 15,514 crore (Bloomberg estimate: Rs 15,998 crore).
EBIT margin expands to 25.2% versus 24.45% (Bloomberg estimate: 24.53%).
Tata Elxsi Q2 Results Key Highlights (Consolidated, QoQ)
Revenue up 2.9% to Rs 918.10 crore versus Rs 892.09 crore
Net Profit up 7% to Rs 154.81 crore versus Rs 144.36 crore
Ebit up 5% to Rs 169.87 crore versus Rs 162.43 crore
Margin at 18.5% versus 18.2%
Q2 Business Updates
ICICI Prudential Life Insurance Co (YoY)
New Business Premium is up 6.1% at Rs 1,761 crore
Annualized Premium Equivalent down 1.1% at Rs 871 crore
DP Abhushan (YoY)
Total turnover during Navratri and Dussehra 2025 is up 85% at Rs 237 crore
Mahindra & Mahindra (YoY)
Total Production Volume up 24.4% at 99,758 Units
Total Sales Volume up 14% at 97,744 Units
Total Export Volume up 44% at 4,458 Units
Gujarat Pipavav Port (YoY)
Containers Cargo Volume handled is down 8% at 1.64 lakh TEUs
Dry Bulk Cargo Volume at 1.05 MMT
Liquid Cargo Volume handled is up 15% at 0.38 MMT
Stocks In News
Afcons Infrastructure: The company gets an Rs 576 crore order for civil and allied infrastructure works.
Tata Consultancy Services: The company approves the incorporation of a wholly-owned arm in India to establish multiple AI and sovereign data centers.
Jana Small Finance Bank: The board approves raising funds worth up to Rs 250 crore via NCDs on a private placement basis.
NTPC Green Energy: The company's arm signs an MoU with the Gujarat government for solar and wind projects.
Blue Dart: The company launches an instant digital account opening platform.
Muthoot Microfin: The company allots 1,500 bonds worth up to $15 million on a private placement basis.
Star Cement: The board to meet on Oct. 14 to consider raising funds.
Lemon Tree Hotels: The company launches a 50-room property in Rajasthan.
RailTel Corp: The company gets a Letter of Intent worth Rs 18.2 crore from a Karnataka body.
Natco Pharma: The company updates that the Delhi HC's Commercial Appellate Division dismisses an appeal filed by Swiss Pharma Co. F. Hoffmann-La Roche AG. to launch a generic version of Risdiplam immediately at Rs 15,900.
Sri Lotus Developers: The board approves the formation of five arms and an investment of up to Rs 100 crore each for business expansion.
Capri Global Capital: The company appoints Monu Ratra as Chief Executive Officer.
Adani Enterprises: The company allots 1 lakh NCDs worth Rs 1,000 crore on a private placement basis.
NIIT: The company approves a scheme of amalgamation of two arms.
Sammaan Capital: The company approves the issuance of $450 million 7.5% senior secured social bonds due 2030 worth $450 million.
NTPC: The company enters into a pact with the Gujarat government to explore opportunities in the energy sector.
Fortis Health: IHH Healthcare Berhad makes an open offer to buy a 26.1% stake.
Rajesh Power Services: The company enters into a pact with the Gujarat government for projects worth Rs 4,754 crore. Projects to create employment for over 33,000 people in Gujarat.
Medplus Health: The company's arm gets 1 suspension order for a drug license in Andhra Pradesh.
ACME Solar Holdings: The company clarifies that the article relates to MKU holdings, an unlisted entity which is one of the promoters. The company informs that the appointment of Jitendra Agrawal pertains to the renewable equipment manufacturing business.
Crest Ventures: The company incorporates arm Crest Prime Projects.
Amber Enterprises: The company's arm IL JIN Electronics (India) acquires 56 lakh shares of Unitronics through ILJIN Holding for NIS 156 million (Alert: NIS is New Israeli Shekel).
Tata Motors: The company informs that the commercial vehicles business undertaking of the company demerged into TMLCV. The company’s passenger vehicles stands amalgamated. The demerger scheme becomes effective from Oct. 1.
5Paisa Capital: The company merges the Information Technology Committee and Cyber Security Committee and renames the merged committee as the Information Technology Committee.
Samvardhana Motherson: The company completes the acquisition of a 20% stake in Youngshin Motherson Auto Tech.
Lloyds Engineering Works: The company signs an MoU with Fly Focus Sp.zo.o to jointly develop and manufacture the Defender Sigint UAV.
Insolation Energy: The company incorporates arm GRHE Green Infra as an SPV for setting up solar power plants.
IPO Offering
LG Electronics: The public issue was subscribed to 54.02 times on day three. The bids were led by qualified institutional investors (166.51 times), non-institutional investors (22.45 times), retail investors (3.55 times).
Anantam Highways Trust: Indian infrastructure investment trust (InvIT) focused on investing in road infrastructure. The public issue was subscribed to 0.95 times on day three. The bids were led by institutional investors (0.37 times), other investors (1.64 times).
Rubicon Research: The Company operates in the pharma space and is engaged in manufacturing of differentiated formulations. The public issue was subscribed to 51% on day one. The bids were led by institutional investors (47%), retail investors (1.36 times), QIBS (26%).
Canara Robeco Asset Management: The Company operates in the asset management space and serves as investment manager for Canara Robeco Mutual Fund. The public issue was subscribed to 23% on day one. The bids were led by institutional investors (23%), retail investors (36%).
IPO Opening
Canara HSBC Life Insurance: The company operates in life insurance space. Promoted by Canara Bank and HSBC Insurance (Asia-Pacific) Holdings. The company will offer shares for bidding on Friday. The price band is set Rs 100 to Rs 106 per share. This IPO size is Rs 2,517 crore, entirely OFS.
Listing
WeWork India Management: The company is a flexible workspace operator in India. The company's shares will debut on the stock exchange on Friday. The public issue was subscribed to 1.15 times on day three. The bids were led by qualified institutional investors (1.79 times), non-institutional investors (23%), retail investors (61%).
Bulk & Block Deals
Indosolar: Vinod Kumar sold 2.88 lakh shares at Rs 712.65 apiece.
Dynamatic Tech: Samena Special Situations Mauritius III sold 72,000 shares at Rs 6,800.65 apiece.
Dividend
Hexaware Technologies: Dividend of Rs 5.75 per share
Rashtriya Chemicals and Fertilizers: Dividend of Rs 1.32 per share
Bonus Issue
Ujaas Energy: Bonus issue in 2:1 ratio
Board Meeting
Aadhar Housing Finance: To discuss business matters
Brightcom Group: To discuss business matters
Computer Age Management Services: To discuss stock split
Le Travenues Technology (Ixigo): To discuss fund raising
Indosolar: To discuss financial results
Earnings For Tomorrow
Elecon Engineering Company
Waaree Renewable Technologies
Price Band
Price Band change from 10% to 5%: Sumeet Industries
F&O Cues
Nifty Oct futures is up 0.64% to 25,280 at a premium of 99 points.
Nifty Oct futures open interest down by -1.07%
Nifty Options 14th Oct Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 25,000.
Securities in ban period: RBL Bank
Currency/Bond Market
The rupee closed flat at 88.79 (provisional) against the US dollar on Thursday, near its all-time low level. The yield on the 10-year bond ended two points higher at 6.52%.
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