Stock Market Today: Nifty Ends Near 25,100, Sensex Rises Over 900 Points; RIL, L&T Lead Gains

That's all for today folks. But before you leave some interesting reads for you.:

• Tough Times Ahead For Dixon Tech After Budget 2026? Brokerages Say Yes; Pick Other EMS Stocks
• Temasek, LIC Are Said To Plan Share Sales In NSE's India IPO
• Creators, Take Note: Budget 2026 Quietly Packs Big Wins for New Social Media Channels

Finance Minister Nirmala Sitharaman said the government has not changed its stance on disinvestment, but will look at more disinvestment and asset monetisation, and will pursue a higher public float in central public sector enterprises (CPSEs).

She said the pace and direction of disinvestment will set the tone for revenue generation. She also said the government will “certainly” look at more on disinvestment and asset monetisation.

Sitharaman said the government is looking at more public float by CPSEs.

Latent View Analytics

• Strong Q3 performance; PAT up 20% YoY.
• Financial services segment recorded the highest growth.

Intellect Design Arena

• Stock slides 8% in trade.
• Profitability under pressure due to higher investments.
• Stock down 35% from its 52-week high.

Bharat Dynamics

• Weak Q3 performance.
• Margins down to 4.6% from 15.2% YoY.
• Stock down 40% from its 52-week high.

Sharda Cropchem

• Strong Q3 showing.
• Margin expands to 18.7% from 12.3% YoY.
• Stock has rallied 27% post Q3 results.

Power Grid Corporation of India

• Stock gains after capex guidance upgrade.
• FY26 capex revised to Rs 32,000 crore from Rs 28,000 crore.

Northern ARC Capital

• Stock under pressure following Q3 results.
• Profit up 33% YoY in Q3.
• Shares down 13%, hit five-month lows.
• Similar selling pressure seen across peers.

Hyundai Motor India Q3 Results Highlights (Standalone, YoY)

 

• Net profit up 6.3% to Rs 1,195 crore versus Rs 1,124 crore.
• Revenue up 7.5% to Rs 17,453 crore versus Rs 16,242 crore.
• Ebitda up 7.4% to Rs 1,960 crore versus Rs 1,825 crore.
• Margin flat at 11.2%.

Bharat Electronics Ltd. is back on the screen after Morgan Stanley raised its price target to Rs 508 from Rs 418, citing multi-year revenue visibility and a large order book. BEL fell as much as 10% on Budget day.

The brokerage pointed to BEL’s order book and indigenisation levels of about 70%-73%, and flagged programmes in the pipeline such as QRSAM and Kusha as largely indigenous by design. It also noted the Budget’s defence capex increase of 18% for FY27 to Rs 2.2 lakh crore, with 75% of procurement from the domestic market.

Click through for the full breakdown of the call, the Budget linkage and the numbers behind the target change.

In early London trade, the greenback rose most versus the Australian, New Zealand and Norwegian currencies as gold extended losses after Friday’s biggest fall in more than a decade. Silver fell as much as 16% on Monday after logging its steepest intraday drop on record on Friday.

Click through to see the full FX and metals moves in one place.

The Budget centres on “strategic resilience”, with emphasis on rare earths and a push for construction equipment and chemical manufacturing, Chief Economic Adviser Anantha Nageswaran said.

He said reforms have continued through the year outside the Budget cycle, and said the Budget did not need “big bang” announcements because those have been happening through the year. He also pointed to a new Electricity Bill to remove cross-subsidisation, along with lower customs duties and exemptions on certain goods, and said the Budget keeps focus on manufacturing and services, as well as AI, the “orange economy” and tourist guides.

Nageswaran said manufacturing can support the rupee over time and help bring down the cost of capital, though he said it will take time. He also said the purpose is not revenue generation but to help households use savings to maximise wealth, and cited a SEBI paper on how people lose money through F&O. Click through to read the full remarks and the key lines in context.
 

If you’re scanning the market for what’s dragging, IT stocks are in focus after the rupee strengthened, following RBI intervention.

Infosys fell 1.78% and LTIM dropped 1.56%, while Mphasis slid 1.19%, Oracle Financial Services eased 1.15% and Persistent Systems fell 0.68%. HCLTech rose 0.88% and Tech Mahindra added 0.13%. Keep an eye on the rupee move as you track whether the selling stays concentrated in IT or spreads wider.
 

Markets are swinging after Sunday’s Budget session, with Reliance and L&T helping lift the Nifty. Keep Nifty’s support zone in view around 24,800, with the 24,600-24,800 band in focus.

Bank shares are showing more strain than the Nifty, while options positioning points to no clear direction. The rupee has firmed after RBI intervention, broader indices are weaker than the benchmarks, and the overhang from foreign investor selling remains.

After the Budget session on Sunday, Dalal Street shifts focus to earnings on Monday, with about 75 companies set to report December-quarter results.

The key names due today include Hyundai Motor India, Railtel, PB Fintech and Bajaj Housing Finance. Ather Energy, Awfis Space Solutions, Bharat Wire Ropes, Corona Remedies, Mahindra Lifespace Developers, Olectra Greentech and Tata Chemicals are also scheduled to report.

Want to track the numbers as they drop? Click through to our Q3 Results LIVE updates.

A quick check on precious metals: gold fell again after its biggest drop in more than a decade, and silver extended its reversal after a rally that ran too far, too fast.

In Asian trading on Monday, spot gold fell as much as 6.3% and silver dropped as much as 11.9%. Silver swung during the session, rising more than 3% at one point before turning lower again, after its steepest intraday fall on record in the previous session.

Follow the moves and read the full story here.

If you are tracking Asia’s movers today, South Korea is in focus after a sharp slide tested confidence in a market that had kept rising even when the global AI trade cooled elsewhere.

The Kospi dropped as much as 5.6%, with uncertainty over interest-rate policy and fresh questions about how long AI-led spending can hold up weighing on tech shares.

Lupin said it has introduced Dasatinib tablets in the US, according to an exchange filing. Dasatinib tablets are used to treat leukaemia. 

Want the quick read on how one brokerage sees the Budget? Jefferies India called it a “pragmatic approach” with “no fireworks” and said it does not see an immediate trigger for equity markets, while it points to a medium-term growth setup and a continued push on export competitiveness.

Here are the themes to track: Jefferies highlighted a renewed capex focus, led by defence, and said slower fiscal consolidation helped that stance. It also flagged support for data centres and electronics components, but warned that higher bond yields could pressure rate-sensitive sectors. Jefferies also called the STT hike a negative and said it signals discomfort with high derivatives (F&O) volumes.

Jefferies also pointed to a large disinvestment budget and said the IDBI Bank divestment could conclude in FY27, while it outlined sector moves tied to infra capex, defence, electronics manufacturing, data centres and digital payments — and flagged pressure points linked to yields, capital markets and the STT change.

Click through to see Jefferies’ full scorecard, sector calls and the key lines to watch next.

Shares of MRPL halted a two-day losing streak. The stock rose as much as 6.8% to Rs 173.79. The scrip had declined nearly 10% on Sunday.

Indian equity benchmarks fluctuated between gains and losses after Sunday's worst Budget trading session in six years. The BSE Sensex opened 100 points lower while the NSE Nifty 50 fell to below 24,800.

At 9:23 am, the 30-stock index had erased losses and rose over 200 points, while the NSE Nifty 50 trade at 24878.85.

At least 75 companies are set to announce their Q3FY26 results today.

Key companies declaring results include Ather Energy Ltd., Hyundai Motor India Ltd., Mahindra Lifespace Developers Ltd., PB Fintech Ltd., and Tata Chemicals Ltd. After announcing the Q3FY26 results, most of the companies will hold an earnings conference call to discuss the Q3 performance and outlook. Some may also announce dividends as a reward for the shareholders.

Click here to see the full list

A quick look at Asian markets: Stocks cut early losses and metals swing in Monday trading.

Asian shares were down 0.3% and Nasdaq 100 futures slipped 0.2%, both off their session lows. The Bloomberg Dollar Spot Index erased earlier gains to trade flat after the dollar logged its strongest day since May on Friday, following President Donald Trump’s nomination of Kevin Warsh as the next Federal Reserve chair. The yen moved up and down after Japan’s prime minister said a weak yen can be an opportunity for export industries.

Read the full story here.

Cigarette prices have risen by at least Rs 22 to Rs 25 for a 10-stick pack after additional excise duty took effect on Sunday. Distributors said some 76 mm premium brands may go up by Rs 50 to Rs 55 per 10-stick pack, depending on the brand.

What to watch: manufacturers have not issued revised MRP declarations yet, but distributors have started billing old stock to retailers with 40% GST. With wholesale markets shut on Sunday, distributors expect fresh stock with new MRPs to start moving from Monday.

Price checks shared by distributors include Wills Navy Cut (76 mm) moving from Rs 95 to about Rs 120 for 10 sticks, 84 mm brands priced at Rs 170 moving to about Rs 220 to Rs 225 for 10 sticks, and Classic Connect (97 mm) moving to about Rs 350 for 20 sticks. Distributors expect packs with new MRPs from manufacturers by month-end, while some companies have put stocks on hold, a stockist said. AICPDF said India has about 8,000 to 9,000 stockists of cigarettes and tobacco products.

Click to read the full story.

Hero MotoCorp reported a 26% rise in total January sales from a year earlier to 557,871 units.

Domestic sales rose 26% to 520,208 units, while exports increased 24% to 37,663 units. Motorcycle sales climbed 24% to 495,889 units — keep an eye on how the domestic and exports split shapes the overall run rate.

The Finance Bill 2026 proposes to tax buybacks as capital gains for shareholders who hold 10% or less of a company’s equity. It sets long-term capital gains tax at 12.5% plus surcharge, while promoters — defined as holders above 10% — would continue to be taxed as dividend income at 22% or 30% for promoters other than domestic companies, plus surcharge.

Why it matters: The proposal seeks a more uniform tax approach to buyback income and could affect how listed companies use buybacks. The updated rules, framed under the Income Tax Act, 2025, are scheduled to take effect on April 1, 2026, and may raise questions around setting off capital losses against buyback proceeds, according to Vaibhav Gupta of Dhruva Advisors.

Click to read the full story.

The Union Budget 2026 proposed a sharp rise in the Securities Transaction Tax on derivatives trades, in a move the government said would curb excessive speculation in the futures and options segment.

Proposed changes:

• STT on futures: raised to 0.05% from 0.02%.
• STT on options premiums: raised to 0.15% from 0.1%.
• STT on the exercise of options: raised to 0.15%.

Also Read: STT Hike Undertaken To Curb Speculative Activity In F&O, Says Govt