Stock Market Live: Nifty Above 23,400, Sensex Gains 133 Points; HDFC Bank, Bajaj Finance Top Gainers
Nifty Realty rose 1%, while Nifty Defence gained 0.95%. Nifty Energy and Auto advanced 0.65% and 0.48%, respectively. Nifty IT was the only sectoral loser, falling 1.04%.
Hello and welcome to our live coverage on stock markets:
The Nifty 50 opened 23.30 points higher at 23,437.60. The Sensex gained 132.59 points, or 0.18%, to open at 74,991.58.
Asian markets were mostly higher in early trading. Japan's Nikkei 225 advanced 1.38%, while South Korea's KOSPI rose 1.87%. Australia's S&P/ASX 200 added 0.11%, while the Shanghai Composite was little changed.
The gains across the region followed a strong US session, where renewed interest in artificial intelligence stocks pushed major Wall Street indices higher. The S&P 500 rose 1.5%, its biggest single-session gain since Aug. 4. The Nasdaq Composite climbed 2.3% and reached its first closing high since June. The Dow Jones Industrial Average gained 366 points, or 0.7%.
US semiconductor stocks were among the main drivers of the technology rally, with an index tracking the sector gaining more than 4%. Meta rose 11%, while Advanced Micro Devices crossed the $1 trillion market-capitalisation threshold. The Nasdaq 100 gained 2.8%.
Crude prices were also being watched after a steep decline in the previous session. Brent crude traded around $100 a barrel after falling 3.4%, while West Texas Intermediate declined 4.5% to $95.78 a barrel. Brent settled more than 3% lower at $100.34 a barrel.
The fall in oil prices came as concerns over supplies from the Middle East eased. Investors were also assessing diplomatic efforts to end the US-Iran conflict. Saudi Arabia's oil loadings from the Persian Gulf increased over the weekend, with the number of vessels at its main Gulf port reaching its highest level since June, according to satellite data.
US President Donald Trump told Fox News he would "probably" consider meeting Iranian President Masoud Pezeshkian on the sidelines of the UN General Assembly in New York this week.
The Wall Street Journal reported separately that the Trump administration had proposed a $5 billion fund to help Middle Eastern countries rebuild energy infrastructure damaged during the Iran war.
Stock Market Live: HCL Tech, Tata Elxsi Lead IT Stock Decline
HCL Technologies fell 2.26%, while Tata Elxsi declined 2.19%. Tech Mahindra dropped 1.21%, while Persistent Systems and Coforge lost 0.95% and 0.94%, respectively.
Newgen Software Technologies rose 1.22%, while Fractal Analytics gained 0.85%.
Stock Market Live: Nifty Opens Above 23,400, Sensex Gains 133 Points
The Nifty 50 opened 23.30 points higher at 23,437.60. The Sensex gained 132.59 points, or 0.18%, to open at 74,991.58.
Stock Market Live: Bandhan Bank Among Stocks In F&O Ban
- Bandhan Bank is among the securities in the F&O ban period for the session.
- The other stocks listed under the ban are Inox Wind, Manappuram Finance, SAIL and LIC Housing Finance.
Stock Market Live: Varmora Granito Raises Rs 212.4 Crore From Anchor Investors
Varmora Granito has raised Rs 212.4 crore from anchor investors ahead of the opening of its Rs 708 crore IPO.
Varmora Granito
- Raised Rs 212.4 crore from anchor investors.
- Investors included Goldman Sachs and ICICI Prudential Mutual Fund.
- The company allotted 1.43 crore equity shares to 17 funds.
- Shares were allotted at Rs 148 each, the top end of the IPO price band.
- The public issue is scheduled to open following the anchor allocation.
Stock Market Live: GCSL Sees Multiple Block Trades At Around Rs 635
- GCSL saw multiple bulk transactions involving several investors and entities, with trades taking place around Rs 635-637 per share.
- Key transactions included KURJIBHAI PREMJIBHAI RUPARELIYA buying 1.77 lakh shares at Rs 635.01 and another 8.25 lakh shares at Rs 636.58
Stock Market Live: Allcargo FCL Volumes Down 5% YoY On Middle East Impact
- Allcargo Global's FCL volumes declined 5% year on year, with the Middle East crisis affecting volumes.
- FCL volumes, however, increased 4% month on month, while air freight volumes stood at 2,796 tonnes, down 6% year on year and up 2% month on month.
Stock Market Live: Allcargo Sees Freight Rates Elevated On Constrained Capacity
- Allcargo Global expects peak-season demand to remain resilient, while constrained capacity could keep freight rates elevated in the near term.
- Container utilisation has also improved consistently, with 40-ft container usage continuing to rise.
Stock Market Live: Nifty, Sensex Edge Higher In Pre-Market Trade
The Nifty 50 gained 35.90 points, or 0.15%, to 23,450.20 in pre-market trade. The Sensex rose 54.23 points, or 0.07%, to 74,913.22.
Stock Market Live: Allcargo Global LCL Volumes Fall 7% YoY
- Allcargo Global reported a 7% year-on-year decline in LCL volumes amid rationalisation of loss-making trade lanes.
- The company said yields improved because of its focus on profitability despite lower LCL volumes.
Stock Market Live: OFSS Says It Is Unaware Of Oracle Data Centre Debt Issue
Oracle Financial Services Software said it has no knowledge of developments related to reported debt issues at Oracle's data centre operations.
OFSS
- OFSS said it is a separate listed subsidiary of Oracle.
- The company said it was not aware of the matters referred to in the media report.
- It said there was no undisclosed price-sensitive information requiring further disclosure.
- It also confirmed that no regulatory or legal proceedings are pending against it as of the date.
Stock Market Live: Patanjali Foods Faces Sunrich Oil Sales Ban In Kerala
- A food safety authority has prohibited the sale of one batch of Patanjali Foods' Sunrich sunflower oil in Thiruvananthapuram.
- The action relates to excess TBHQ found in the specified batch.
Stock Market Live: Page Industries Wins Dubai Court Case Against Yellow Flower
- Page Industries said its case against Yellow Flower Trading LLC was dismissed by a Dubai court after the claimant failed to pay the court-ordered expert deposit.
- The court directed Yellow Flower Trading LLC to bear court fees, costs and AED 1,000 towards advocates' fees.
Stock Market Live: Rupee Opens 7 Paise Higher At 95.75 Against US Dollar
The rupee opened at 95.75 against the US dollar on Tuesday, compared with its previous close of 95.82.
Stock Market Live: PDS Completes Sale Of Remaining 49% DBS Lifestyle Stake
- PDS has completed the sale of its remaining 49% stake in DBS Lifestyle.
- The transaction was completed on September 21, 2026, following which three entities ceased to be associates.
Stock Market Live: PI Industries Gets Registration For Pioxaniliprole
- PI Industries has received registration for Pioxaniliprole, described in the company update as India's first discovered insecticide.
- The registration clears the way for its domestic launch.
Stock Market Live: Uflex Gets Indian Patent For Aseptic Packaging Machine
- Uflex has received a patent from the Government of India's Patent Office for a high-speed twin aseptic pack packaging machine for liquid products.
- The patent has been granted for a period of 20 years.
Stock Market Live: Electronics Mart Opens Bajaj Electronics Store In AP
- Electronics Mart India has commenced operations of a 4,500 sq ft Bajaj Electronics store in Anakapalli, Andhra Pradesh.
- The store began operations on September 21, 2026.
Stock Market Live: BOB Sets Up Pension Fund Arm With 80.1% Stake
- Bank of Baroda will hold an 80.10% stake in BOB Pension Fund Management Company following its incorporation as a subsidiary.
- The lender has proposed an Rs 80.10 crore cash investment, with commercial operations yet to begin.
Stock Market Live: Virtuoso Optoelectronics Revises Preferential Issue Terms
Virtuoso Optoelectronics has revised the terms of its preferential issue, with proceeds earmarked for expansion of deep-freezer manufacturing capacity.
Virtuoso Optoelectronics
- Proceeds: Rs 84.99 crore.
- Funds to be used to expand deep-freezer capacity.
- Target capacity: 2.5 lakh units.
Stock Market Live: Wheels India To Allot Rs 180 Crore Preferential Shares
Wheels India has approved the allotment of 12.3 lakh shares through a preferential issue for Rs 180 crore.
Wheels India
- Shares to be allotted: 12.3 lakh.
- Issue price: Rs 1,461.
- Total value of allotment: Rs 180 crore
Stock Market Live: Share India Securities Approves Rs 200 Crore Warrant Issue
Share India Securities has approved a warrant issue of up to Rs 200 crore along with an investment in a new subsidiary.
Share India Securities
- Warrant issue: up to Rs 200 crore.
- Investment in new subsidiary: up to Rs 120 crore.
- Both approvals were made on September 21, 2026.
Stock Market Live: Suryoday SFB Board Approves Rs 400 Crore NCD Issue
Suryoday Small Finance Bank's board has approved an NCD issue of up to Rs 400 crore.
Suryoday Small Finance Bank
- Total NCD issue size: up to Rs 400 crore.
- First tranche: Rs 200 crore.
- The board also approved the appointment of an interim company secretary from September 24, 2026.
Stock Market Live: J&K Bank To Sell 0.5% PNB MetLife Stake For Rs 120 Crore
- Jammu & Kashmir Bank has signed an escrow agreement to sell a 0.5% stake in PNB MetLife for Rs 120 crore.
- The transaction involves the bank's holding in PNB MetLife.
Stock Market Live: Moody's Assigns Baa3 Rating To Canara Bank Debt
- Moody's Ratings has assigned a provisional Baa3 rating to Canara Bank's senior unsecured debt instrument.
- The rating comes as the lender continues to access the debt market.
Stock Market Live: Canara Bank Gets NSE Approval For AT1 Bond Listing
- Canara Bank has received NSE approval for listing its Basel III Additional Tier I bonds.
- The approval was received on September 21, 2026.
Stock Market Live: Bank Of Baroda Enters Pension Fund Management Business
Bank of Baroda has incorporated BOB Pension Fund Management Company as a subsidiary, marking its entry into the pension fund management business.
Bank of Baroda
- Will hold 80.10% in the subsidiary.
- Proposed investment: Rs 80.10 crore through cash consideration.
- Commercial operations have not yet commenced.
- Acquisition process is targeted for completion by December 31, 2026.
Stock Market Live: Newgen Software Wins Rs 17.14 Crore Qatar Order
Newgen Software Technologies has secured a Rs 17.14 crore order from an overseas customer in Qatar.
The contract covers platform licensing, implementation, maintenance and support.
Newgen Software
- Order value: Rs 17.14 crore.
- Includes supply and implementation.
- Includes three years of support.
- Contract awarded by an overseas customer in Qatar.
Stock Market Live: Parag Milk Foods To Invest Rs 100 Crore In Paneer Capacity
Parag Milk Foods plans to invest Rs 100 crore to expand its paneer manufacturing capacity.
The expansion will increase capacity substantially as the company focuses on its flagship category.
Parag Milk Foods
- Investment: Rs 100 crore.
- Paneer capacity to increase to 80 MT per day from 20 MT per day.
- Value-added products contribute over 90% of turnover.
- Expansion is aimed at strengthening pan-India distribution.
Stock Market Live: Transrail Lighting Expands Conductor Capacity By 70%
Transrail Lighting has increased its conductor manufacturing capacity by 70% following the completion of the first phase of its brownfield expansion.
Transrail Lighting
- Revised conductor manufacturing capacity: 40,800 km per annum.
- Phase one of the brownfield conductor manufacturing expansion has been completed
Stock Market Live: Aarti Industries Targets 70% Renewable Energy Mix
- Aarti Industries expects its renewable energy mix to reach 70% by the end of FY27.
- The company also said its Augene JV and Re Aarti JV are under execution and expected to be commissioned in FY27.
Stock Market Live: Purple Style Labs To Invest $7 Million In US Arm
- Purple Style Labs plans to invest $7 million in its US arm through the acquisition of 7 million Class B common stocks.
- The investment will be made through the company's acquisition of shares in its US arm.
Stock Market Live: ONGC Strikes Gas In Mahanadi Offshore Basin
- ONGC has reported a gas discovery in the Mahanadi offshore basin under its Samudra Manthan initiative.
- The discovery marks a fresh development in the company's offshore exploration programme.
Stock Market Live: Pace Digitek Arm Gets Rs 488 Crore NTPC Order
A subsidiary of Pace Digitek has received a letter of award worth Rs 488 crore from NTPC GE Power Services.
The order covers commissioning of battery energy storage system containers.
Pace Digitek
- LoA value: Rs 488 crore.
- Order involves commissioning of 5.015 MWh BESS containers.
Stock Market Live: Hindustan Copper Targets 60,000 TPA Cathode Output At Taloja
- Hindustan Copper is targeting 60,000 tonnes per annum of cathode production at its Taloja Copper Project.
- The company also expects production to begin at its Gujarat Copper Project by Q4 FY27.
Stock Market Live: Hindustan Copper Targets 5 MTPA Malanjkhand Capacity
Hindustan Copper plans to expand mine capacity at its Malanjkhand Copper Project to 5.0 MTPA by FY30.
The company has outlined multiple capacity expansion projects as part of its longer-term copper production plans.
Hindustan Copper
- Malanjkhand mine capacity target: 5.0 MTPA by FY30.
- Khetri Copper Complex capacity target: 3.0 MTPA by FY30.
- Indian Copper Complex capacity target: 4.2 MTPA by FY30.
Stock Market Live: GRSE Approves Rs 2,896 Crore Shipyard Capex
Garden Reach Shipbuilders and Engineers has approved Rs 2,896 crore of capital expenditure for a new shipyard in West Bengal.
GRSE
- To construct a greenfield shipyard at Raichak.
- The project will enhance shipbuilding capacity.
- The board has approved capex of Rs 2,896 crore.
Stock Market Live: Waaree Energies Bags Order For 2 GW Solar Modules
- Waaree Energies has received an order to supply 2 GW of solar modules, adding to the company's order flow in the renewable energy segment.
- The company disclosed the order win in its latest update
Stock Market Live: Neogen Chemicals Raises Rs 600 Crore Via QIP
Neogen Chemicals has raised Rs 600 crore through its first-ever qualified institutional placement, with the issue receiving strong subscription.
Neogen Chemicals
- Raised Rs 600 crore through its first-ever QIP.
- QIP was oversubscribed 6.5 times.
- Allotted 26.6 lakh shares at an issue price of Rs 2,255
Stock Market Live: Lloyds Metals To Raise Rs 1,550 Crore Via NCDs
Lloyds Metals has approved a Rs 1,550 crore fund raise through non-convertible debentures, while also planning capacity expansion.
Lloyds Metals
- To raise Rs 1,550 crore through NCD issuance.
- To invest Rs 140 crore in capacity addition.
- DRI plant capacity at Ghugus to increase to 8,15,000 MTPA.
- Konsari DRI capacity to increase to 92,400 MTPA.
- Total DRI plant capacity will exceed 9,00,000 MTPA.
Stock Market Live: L&T Plans Expansion Into Data Centres, Green Energy
- JPMorgan highlighted L&T's plans to enter data centres, green energy and electronic manufacturing.
- The company also aims to double defence revenue by 2031, while private corporate capex in India has gained traction through large thermal power orders.
Stock Market Live: L&T Sees Middle East Projects Continue Without Major Disruption
- JPMorgan said L&T's execution in the Middle East continues without any major disruptions despite the ongoing conflict.
- Customers are broadly accommodating cost increases linked to the impact of the conflict, according to the brokerage.
Stock Market Live: Morgan Stanley Prefers To Avoid Paint Stocks
- Morgan Stanley said higher near-term topline growth in the paints segment is already reflected in valuations.
- The brokerage also flagged commodity volatility as an additional headwind and said it prefers to avoid paint stocks.
Stock Market Live: Nestle India Could See Near-Term Outperformance, Says MS
- Morgan Stanley sees potential for near-term outperformance from Nestle as consumer growth momentum continues.
- The brokerage expects the market to focus on volume growth and EBITDA growth amid inflationary pressures.
Stock Market Live: Marico, Tata Consumer Preferred By Morgan Stanley
- Morgan Stanley said it prefers consumer names with better medium-term growth visibility, identifying Marico and Tata Consumer among its preferred names.
- The brokerage expects growth momentum across staples to continue.
Stock Market Live: Consumer Stocks Face Focus On Two-Year Volume Growth
- Morgan Stanley expects the market to focus on two-year CAGR volume growth and EBITDA growth across consumer companies amid inflationary pressures.
- The brokerage expects YoY revenue growth momentum to remain strong across most players.
Stock Market Live: NTPC Green's Growth Ambitions Backed By Parent Capital
- Bernstein highlighted NTPC Green's growth ambitions and the backing provided by its parent capital.
- The brokerage upgraded the stock to Market-Perform with a target price of Rs 85.
Stock Market Live: NTPC Green's Execution Misses Seen Priced In
- Bernstein upgraded NTPC Green to Market-Perform from Underperform and said execution misses are priced in.
- The brokerage also identified low cost of debt and grid connectivity as strengths for the company.
Stock Market Live: GMR Airports Faces Possible AERA Supreme Court Challenge
- Macquarie expects AERA to challenge the ruling before the Supreme Court.
- Despite the potential challenge, the brokerage said the ruling reduces downside regulatory risk and strengthens the medium-term outlook for Delhi Airport.
Stock Market Live: Hindustan Copper Plans Rs 7,000 Crore Investment
Hindustan Copper plans capital investment of more than Rs 7,000 crore over the next five to six years as it works to expand copper production capacity.
Hindustan Copper
- Capital investment of over Rs 7,000 crore planned over the next five to six years.
- The company is pursuing acquisition of new copper deposits in India and overseas.
- It is also focused on reopening closed mines in India.
Stock Market Live: GMR Airports Gets Regulatory Relief, Says Macquarie
- Macquarie said the ruling materially improves GMR Airports' position by improving recovery of actual financing and operating costs.
- The brokerage also said the ruling reduces several key regulatory overhangs.
Stock Market Live: Sansera Engineering Gets Semiconductor Sourcing Tailwind
- Goldman Sachs highlighted potential longer-term growth opportunities for Sansera Engineering as Applied Materials and LAM Research plan to expand semiconductor component sourcing from India.
- The brokerage views both entities as prospective customers and potential longer-term growth contributors.
Stock Market Live: Leela Hotels Targets Rs 2,000 Crore FY30 EBITDA
- Leela Hotels' management reiterated confidence in its Rs 2,000 crore FY30 EBITDA ambition, according to Jefferies.
- The target implies 25% CAGR over FY26-FY30, while non-room revenues, club and wellness businesses are emerging as additional growth drivers.
Stock Market Live: Leela Hotels Sees Domestic Tourism Drive Luxury Demand
- Jefferies said domestic tourism is more than offsetting foreign tourist demand for Leela Hotels as demand continues to exceed supply growth.
- The brokerage also highlighted the company's 1,100-key announced pipeline, which is skewed towards owned assets.
Stock Market Live: Below-Normal Monsoon Adds Cement Demand Risk
- Morgan Stanley flagged below-normal monsoon conditions as a potential pressure point for rural demand.
- The brokerage also sees renewed cost inflation risks for cement companies, with potential costs rising by Rs 150-200 per tonne.
Stock Market Live: Cement Companies Face Rs 150-200/Tonne Cost Risk
- Morgan Stanley estimates cement companies could face Rs 150-200 per tonne of higher costs amid renewed cost inflation risks.
- The brokerage said companies may require a Rs 10-15 per bag price hike to offset the increase in costs.
Stock Market Live: MS Flags Higher Cost Risks For Cement Makers
Morgan Stanley sees renewed cost inflation risks for cement companies as the Middle East conflict continues.
Morgan Stanley
- The conflict creates a risk of a higher-for-longer cost cycle.
- Below-normal monsoon could weigh on rural demand.
- Companies could see Rs 150-200 per tonne increase in costs.
- Cement makers may require a Rs 10-15 per bag price hike.
Stock Market Live: Kotak Securities Maintains Reduce On Indo MIM
Kotak Securities retained its Reduce rating on Indo MIM with a target price of Rs 1,110, despite identifying multiple growth vectors.
Kotak Securities
- Rating: Reduce
- Target price: Rs 1,110
- Indo MIM is executing across multiple growth vectors.
- Its leadership position and diversified offering are expected to support growth.
- Kotak Securities expects 29% PAT CAGR over FY26-31.
- Inability to win share in consumer electronics and slowing growth are key risks.
Stock Market Live: CLSA Maintains Outperform On LG India At Rs 1,865
CLSA retained its Outperform rating on LG India with a target price of Rs 1,865, citing broad-based growth and continued premiumisation.
CLSA
- Rating: Outperform
- Target price: Rs 1,865
- Broad-based growth guidance has been reiterated.
- Premiumisation continues.
- Higher export profitability could become a meaningful driver of earnings and margin accretion.
Stock Market Live: Bernstein Upgrades NTPC Green To Market-Perform
Bernstein upgraded NTPC Green from Underperform to Market-Perform with a target price of Rs 85.
Bernstein
- Rating: Market-Perform versus Underperform earlier
- Target price: Rs 85
- Bernstein believes execution misses are priced in.
- Low cost of debt and grid connectivity are seen as strengths.
- The company's ambitions are backed by parent capital.
Stock Market Live: Jefferies Maintains Buy On Polycab At Rs 11,100
Jefferies retained its Buy rating on Polycab with a target price of Rs 11,100, citing power-sector demand as a key driver for cables and wires.
Jefferies
- Rating: Buy
- Target price: Rs 11,100
- Power is estimated to account for 40-45% of Polycab's C&W demand.
- Power generation, renewable energy and T&D networks are key demand drivers.
- Demand remains healthy, while the Q2-Q3FY26 volume base is high.
- At a 5-7% industry net profit margin, competition-led price cuts may not be sustainable in the medium term.
- Cables require certifications for usage and durability, resulting in a longer gestation period.
Stock Market Live: Jefferies Holds Blue Star At Rs 1,635 Target Price
Jefferies maintained its Hold rating on Blue Star with a target price of Rs 1,635 as higher input costs continue to pressure margins.
Jefferies
- Rating: Hold
- Target price: Rs 1,635
- Rising input costs continue to exert margin pressure in Q2.
- Margin is estimated to recover in H2, helped by potential price hikes and cost-cutting.
- Data centre business is expected to contribute 20% of sales by FY29 versus 10% in FY27.
- Festive demand will be a key factor.
Stock Market Live: Jefferies Maintains Buy On TBO Tek At Rs 1,905
Jefferies retained its Buy rating on TBO Tek with a target price of Rs 1,905, citing a robust growth outlook despite near-term disruption.
Jefferies
- Rating: Buy
- Target price: Rs 1,905
- TBO Tek is navigating the Middle East disruption.
- Oplev is expected to drive faster earnings growth.
- The Classic acquisition opens up a larger luxury travel opportunity.
- Jefferies expects AI to augment rather than replace the travel-agent model.
- The wholesale business provides a stable growth foundation.
Stock Market Live: GS Raises Sansera Engineering Target Price To Rs 4,990
Goldman Sachs retained its Buy rating on Sansera Engineering and raised its target price to Rs 4,990 from Rs 4,500.
Goldman Sachs
- Rating: Buy
- Target price: Rs 4,990 versus Rs 4,500 earlier
- Prospective customers Applied Materials and LAM Research have announced plans to expand semiconductor component sourcing from India.
- Goldman Sachs views both entities as potential longer-term growth contributors for Sansera Engineering.
Stock Market Live: Jefferies Maintains Buy On Adani Enterprises At Rs 3,830
Jefferies retained its Buy rating on Adani Enterprises with a target price of Rs 3,830, highlighting airports and data centres as key growth pillars.
Jefferies
- Rating: Buy
- Target price: Rs 3,830
- Management highlighted the incubation-to-value-unlocking model.
- Airports and data centres are emerging as key growth pillars.
- Airports are nearing an earnings inflection.
- Navi Mumbai ramp-up, higher non-aero monetisation and city-side development are key factors.
- AI is expanding the opportunity for Adani ConneX.
- Recent capital raises leave Adani Enterprises positioned to fund its next growth phase.
Stock Market Live: JPMorgan Maintains Overweight On L&T At Rs 5,060
JPMorgan retained its Overweight rating on L&T with a target price of Rs 5,060, pointing to growth across its traditional and emerging businesses.
JPMorgan
- Rating: Overweight
- Target price: Rs 5,060
- Execution in the Middle East continues without major disruptions.
- Customers are broadly accommodating cost increases linked to the conflict.
- Public capex in India should pick up after a period of consolidation.
- Private corporate capex has gained traction, led by large thermal power orders.
- L&T plans to enter data centres, green energy and electronic manufacturing.
- The company aims to double defence revenue by 2031.
- JPMorgan sees L&T positioned for mid-teens growth with healthy RoE.
- Valuation is below 25x P/E.
Stock Market Live: Citi Maintains Buy On Kotak Mahindra Bank At Rs 465
Citi retained its Buy rating on Kotak Mahindra Bank with a target price of Rs 465, citing resilient business growth and policy tailwinds.
Citi
- Rating: Buy
- Target price: Rs 465
- Group CFO struck a constructive tone on business resilience and policy tailwinds.
- KMIL merger and FCNR-B deposit mobilisation are expected to expand the balance sheet.
- FCNR-B utilisation can support repayment of high-cost wholesale deposits and borrowings.
- Near-term surplus is being parked in treasury investments and short-term lending.
- Over coming quarters, surplus is expected to be deployed into higher-yielding, risk-adjusted assets.
- Asset quality remains reassuring, with no stress evident in retail or SME portfolios.
- Personal loan stress has normalised, with only transient residual stress in retail CV/CE.
- SME is expanding over 20%, MFI remains on track and credit cards are returning to positive growth.
Stock Market Live: Jefferies Maintains Buy On Leela Hotels At Rs 675
Jefferies retained its Buy rating on Leela Hotels with a target price of Rs 675, citing continued growth in India's luxury hospitality market.
Jefferies
- Rating: Buy
- Target price: Rs 675
- Management remains constructive on India's luxury hospitality market.
- Domestic tourism is more than offsetting foreign tourist demand, while demand is exceeding supply growth.
- Leela's 1,100-key announced pipeline is skewed towards owned assets.
- Multiple attractive markets remain untapped.
- Non-room revenues, club and wellness businesses are emerging growth drivers.
- Management reiterated confidence in its Rs 2,000 crore FY30 EBITDA ambition, implying 25% CAGR over FY26-FY30.
Stock Market Live: Macquarie Sees GMR Airports Ruling As Material Positive
Macquarie said the ruling is a material positive for Delhi International Airport and, by extension, GMR Airports.
Macquarie
- Rating: Outperform
- Target price: Rs 120
- The ruling improves recovery of actual financing and operating costs.
- It also reduces several key regulatory overhangs.
- Macquarie expects AERA to challenge the ruling before the Supreme Court.
- The brokerage sees lower downside regulatory risk and a stronger medium-term outlook for Delhi Airport.
Stock Market Live: JPMorgan CEO Flags Taxation, Regulatory Hurdles To India Investment
JPMorgan Chase CEO Jamie Dimon said India is the world’s fastest-growing major economy but inconsistent taxation and application of rules can deter foreign investment, according to The Economic Times.
Dimon called for greater competition and equal treatment of domestic and global capital.
Stock Market Live: Nifty Settles 0.29% Higher, Sensex Gains 564 Points | Monday Market Recap
- The Nifty 50 settled 67.90 points higher at 23,414.30, compared with its provisional close of 23,429.
- The Sensex settled 564.03 points, or 0.76%, higher at 74,858.99, compared with its provisional close of 74,894.86.
Stock Market Live: Asian Markets Rise, KOSPI Gains Nearly 2%
South Korea’s KOSPI rose 1.87%, while Japan’s Nikkei 225 advanced 1.38%. Australia’s S&P/ASX 200 gained 0.11%, while the Shanghai Composite was little changed.
Stock Market Live: S&P 500 Posts Biggest One-Day Gain Since Aug. 4
- The S&P 500 rose 1.5% on Monday, while the Nasdaq Composite gained 2.3% and recorded its first closing high since June.
- The Dow Jones Industrial Average advanced 366 points, or 0.7%.
Stock Market Live: US Chip Stocks Rally Over 4% As Nasdaq 100 Gains 2.8%
An index tracking US semiconductor stocks rose more than 4%, supporting the technology rally. Meta gained 11%, while Advanced Micro Devices crossed $1 trillion in market capitalisation.
The Nasdaq 100 advanced 2.8%.
Stock Market Live: Brent Crude Trades Near $100 After 3.4% Fall
- Brent crude traded near $100 a barrel after declining 3.4% in the previous session and settling at $100.34.
- West Texas Intermediate fell 4.5% to $95.78 a barrel.
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