Stock Market Live Updates: Nifty Above 25,400, Sensex Rises Over 700 Points; Eternal, IndiGo, Waaree Energies, Coforge Shares In Focus

South Korea's stock benchmark advanced to cross the 5,000 target set by President Lee Jae Myung, fueled by AI‑driven demand in the tech‑heavy market. 

The Kospi Index climbed as much as 2.2% to 5,019.54, lifted by gains in Samsung Electronics Co., and SK Hynix Inc. The gauge has gained over 95% in the past 12 months, making it the world's best-performing index. 

Over 1.05 million shares of Dabur were traded via another block deal on Thursday. The share of Dabur rose as much as 2.09% to Rs 528.75 apiece.

Shares of Bajaj Consumer Care were in focus on Thursday after the company reported a strong set of December-quarter results, with sharp growth across profit, revenue and operating margins. The stock gained over 7% intraday, rebounding from recent weakness, even as broader FMCG peers continue to grapple with uneven demand and margin pressures.

Bajaj Consumer Care is trading over 7% near Rs 267, after touching an intraday high of Rs 274, compared with its previous close of Rs 248.80.

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The NSE Nifty 50 and BSE Sensex opened higher on Thursday snapping its three-day fall. The Nifty 50 opened 0.74% higher at 25,344.15 and Sensex opened 0.67% up at 82,459.66. However, minutes after open the Nifty was trading 0.60% higher and Sensex was also trading over 507 points higher.

Over 3.34 million shares of Eternal were traded in pre-market trading on Thursday.

At pre-open, the NSE Nifty 50 was trading 186.65 points or 0.74% higher at 25,344. The BSE Sensex was up 550.52 points at 82,460.15.

Morgan Stanley on Dr Reddy's
Maintain Equal-weight; Cut TP to Rs 1285 from Rs 1389
Resilient quarter
Strong ex-US growth led by India, EU and EMs
Solid cash flows; stable EBITDA margins
Muted earnings growth keeps rating unchanged
Key monitorables: gRevlimid phase-out, GLP-1 ramp-up, abatacept progress

Jefferies on Dr Reddy's
Maintain Underperform; Cut TP to Rs 1040 from Rs 1100
Broadly in-line quarter
India and EMs/Europe strong, aided by forex
One-off expenses lifted SG&A; adjusted EBITDA beat
Mgmt expects gOzempic launch in Canada by May-26 and abatacept US approval by Dec-26
Timelines seen as aggressive; delays remain key downside

BofA on Dr Reddy's
Maintain Buy; Cut TP to Rs 1480 from Rs 1560
Q3 strengthens confidence in base business
EBITDA beat driven by ex-Revlimid base
Semaglutide launch next key catalyst
More legs to ex-US growth
Cost trajectory key for margins

PhonePe, a Walmart-backed fintech company, has filed confidential draft papers for its Initial Public Offering. The public offer will only include offer-for-sale up to 5.06 crore shares by promoter and investor selling shareholders.

The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd.

WM Digital Commerce Holdings Pte Ltd., owned by Wal-Mart International Holdings Inc is the promoter of the company offloading shares in the offer for sale. The promoter is offloading 4.59 crore shares which represents 9.06% of the total paid-up equity. Tiger Global PIP 9-1 Ltd. and Microsoft Global Finance Unlimited Company, an Irish subsidy of Microsoft Corporation are the investors offloading stake.

Read more: PhonePe Files DRHP For IPO; Walmart To Cut 9% Stake As Microsoft Exits — Check OFS Details

Citi on Ashok Leyland
Maintain Buy; Hike TP to Rs 205 from Rs 165
MHCVs doing the heavy lifting; LCVs chipping in
MHCV volumes driven by replacement demand and improving sentiment
Sharp improvement in LCV demand surprised positively
Market share steady overall
Higher LCV contribution and commodity costs factored in
Operating leverage lifts EBITDA and earnings estimates

Citi on Dalmia Bharat
Maintain Buy with TP of Rs 2600
Q3 EBITDA below estimates
Industry demand trends improving; room for further cost savings
Uncertainty around strategy and capacity utilisation remains
Medium-term pricing pressure in South/East likely limited
Rs 50/t cost savings achieved out of Rs 150–200/t target

HSBC on Dalmia Bharat
Maintain Buy with TP of Rs 2740
Q3 marginal earnings miss; Q4 expected to improve
EBITDA slightly below estimates, but strong YoY volume growth
Recovery in cement prices in South and East
Valuation and regional exposure key positives

Macquarie on Dalmia Bharat
Maintain Outperform with TP of Rs 2462
In-line quarter
Remain constructive on improving fundamentals
Growth projects remain on track

• Nifty Jan futures is down 0.27% to 25,190 at a premium of 33 points.
• Nifty Options 27th Jan Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 25000.  
• Securities in ban period: BANDHANBNK, SAMMAANCAP

The US Dollar index is down 0.01% at 98.570.
Euro was up 0.03% at 1.1690.
Pound was up 0.01% at 1.3432.
Yen was up 0.04% at 158.34.

Asian stocks followed Wall Street higher after US President Donald Trump dropped his tariff threat against European partners, easing trade-war concerns.

The MSCI Asia Pacific Index rose 0.9% — putting it in line to break a three-day losing streak — with most of the sub-sectors gaining. South Korean shares climbed to a new record. S&P 500 futures rose 0.2%, suggesting momentum could carry the benchmark beyond a rally that delivered its biggest advance since November.

Source: Bloomberg

Good morning readers.

The GIFT Nifty was trading near 25,400 early on Thursday. The futures contract based on the benchmark Nifty 50 rose 0.84% at 25,363 as of 6:57 a.m. indicating a positive start for the Indian markets. This comes after the Wall Street rally on Wednesday.

In the previous session on Wednesday, the benchmark ended in red extending fall for the third day. The NSE Nifty 50 ended 75 points or 0.30% lower at 25,157.50, while the BSE Sensex closed 270.84 points or 0.33% lower at 81,909.63.