Sensex, Nifty Log Weekly Gains After Powering Through Budget, US Trade Deal, Anthropic Shock

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The rupee weakened 31 paise to settle at 90.66 per dollar. The decline was the sharpest in 10 days.

India's benchmark Nifty and Sensex ended higher for the day and the extended week on Friday, swimming through the Union Budget, India-US trade deal, Anthropic AI shock to IT and Reserve Bank of India repo rate policy.

The Nifty ended 31 points or 0.1% higher at 25,674 while the BSE Sensex added 266 points or 0.3% to close at 83,580.

Broader markets underperformed the benchmark, with the Nifty Midcap 150 ending flat and the Nifty Smallcap 250 closing 0.29% lower. Among frontline stocks, ITC and Kotak Bank were the top gainers on the Nifty, lending support to the index.

The company's Saudi Arabia arm's JV bid was accepted by Diriyah Co. The bid price for construction project is SAR 717 Million.

Source: Exchange Filing

Cigarette stocks rose sharply in the trade after brokerage firm Nuvama noted that the tobacco firms are planning a price hike. The research firm said that the sector may have moved past the worst phase, with volumes next year not expected to post a double-digit decline.

The companies may roll out two to three staggered price increases in the next few months to offset the tax impact, Nuvama said in a note, adding that the tax hikes are unlikely to be withdrawn and it does not expect any significant tax increases in the next two years, which it said improves medium- to long-term visibility.

It also said some investors are looking beyond IT, citing AI disruption concerns, and are shifting to other defensives where valuations look more acceptable.

Here's what Nuvama had to say:

ITC

• The stock trades about 20% below pre-tax hike levels.
• Dividend yield is about 5%.
• Valuation is about 19x FY27E P/E.
• Concerns about illicit trade remain, but pricing pass-through appears better than feared.
• FMCG shift: a larger foods portfolio, including snacks, noodles and biscuits, with a possible benefit from GST rationalisation.
• Paperboards: a recovery view based on structural improvement and potential Century Paper synergies to support medium-term growth.

Godfrey Phillips

• For Q3FY26 and 9MFY26, volumes grew 25% YoY in each period.
• In Q3FY26, revenue rose 15% YoY and EBITDA rose 5% YoY.
• The stock is down about 50% from its peak and down about 30% since the cigarette tax hike announcement.

M&M said it will set up an auto and tractor manufacturing unit in Maharashtra, according to its exchange filing. The automaker said it will invest Rs 15,000 crore in a Nagpur manufacturing facility, adding that the production facility will start in 2028.

MRF (Q3, YoY)

• Revenue up 15.3% at Rs 7,934 crore vs Rs 6,883 crore
• EBITDA up 70.2% at Rs 1,364 crore vs Rs 802 crore
• EBITDA margin 17.2% vs 11.6%
• Net profit Rs 679 crore vs Rs 307 crore
• One-time loss Rs 77.2 crore due to new labour codes

Jubilant Pharmova (Q3, consolidated, YoY)

• EBITDA margin 13.63% vs 15.77%
• EBITDA up 0.7% at Rs 290 crore vs Rs 287 crore
• Revenue up 16.5% at Rs 2,123 crore vs Rs 1,822 crore
• Net profit down 44.6% at Rs 55.9 crore vs Rs 101 crore

Ganesh Housing (Q3, consolidated, YoY)

• EBITDA margin 82.25% vs 82.09%
• EBITDA down 64% at Rs 75 crore vs Rs 211 crore
• Revenue down 64.5% at Rs 91 crore vs Rs 257 crore
• Net profit down 66% at Rs 54 crore vs Rs 161 crore

Tarsons Products (Q3, consolidated, YoY)

• Revenue up 12.7% at Rs 108 crore vs Rs 95.7 crore
• EBITDA up 6.2% at Rs 31.5 crore vs Rs 29.6 crore
• EBITDA margin 29.2% vs 31%
• Net profit down 4.2% at Rs 5 crore vs Rs 5.3 crore

BofA on RBI Policy

• Likely done with rate cuts unless new data shows weakness
• Neutral hold likely marks the end of rate easing cycle
• RBI to gauge future policy on new economic information
• GDP, CPI revised upwards for H1FY27
• RBI to focus on liquidity and transmission

Most private bank stocks swings to loss

Nearly 20.5 lakh shares of Eternal changed hands in a large trade, according to Bloomberg data. Buyers and sellers were not known immediately.

Aditya Birla Fashion Q3 (Standalone, YoY)

• Stock fell 4% to Rs 68
• Revenue up 0.2% at Rs 1,642 crore versus Rs 1,639 crore
• EBITDA down 7.6% at Rs 242 crore versus Rs 262 crore
• EBITDA Margin down 120 bps at 14.8% versus 16.0%
• Net Loss at Rs 61.6 crore versus Profit of Rs 28.1 crore

Kennametal India Q3 (Standalone, QoQ)

• Stock rose to 1% to Rs 2,169
• Revenue up 12.8% at Rs 334 crore versus Rs 296 crore
• EBITDA down 15.0% at Rs 44.8 crore versus Rs 52.7 crore
• EBITDA Margin down 440 bps at 13.4% versus 17.8%
• Net Profit down 22.3% at Rs 24.4 crore versus Rs 31.4 crore

JK Paper Q3 (Cons, YoY)

• Stock rose 2.5% to Rs 318.40
• Revenue up 8.0% at Rs 1,763 crore versus Rs 1,632 crore
• EBITDA up 5.8% at Rs 177 crore versus Rs 168 crore
• EBITDA Margin down 20 bps at 10.1% versus 10.3%
• Net Profit down 58.1% at Rs 27.4 crore versus Rs 65.4 crore

Shree Renuka Sugars Q3 (Cons, YoY)

• Stock fell 1.5% to Rs 24.45
• Revenue down 12.7% at Rs 2,273 crore versus Rs 2,603 crore
• EBITDA up 569.1% at Rs 273 crore versus Rs 40.8 crore
• EBITDA Margin up 1040 bps at 12.0% versus 1.6%
• Net Loss at Rs 38.3 crore versus Loss of Rs 203.6 crore

Kaynes Tech Q3 (Cons, YoY)

• Stock fell 2.7% to Rs 3,518.90
• Revenue up 21.6% at Rs 804 crore versus Rs 661 crore
• EBITDA up 26.9% at Rs 119 crore versus Rs 94 crore
• EBITDA Margin up 60 bps at 14.8% versus 14.2%
• Net Profit up 15.4% at Rs 76.6 crore versus Rs 66.4 crore

Repco Home Finance Q3 (Cons, YoY)

• Stock little changed at Rs 405.45
• Total Income up 2.7% at Rs 457 crore versus Rs 445 crore
• Net Profit up 2.0% at Rs 115 crore versus Rs 113 crore

Shreeji Shipping Q3 (Cons, YoY)

• Stock rose 1.5% to Rs 392.65
• Revenue up 30.0% at Rs 198 crore versus Rs 152 crore
• EBITDA up 110.4% at Rs 56.4 crore versus Rs 26.8 crore
• EBITDA Margin up 1090 bps at 28.5% versus 17.6%
• Net Profit up 135.5% at Rs 32.5 crore versus Rs 13.8 crore

Goodyear India Q3 (Standalone, YoY)

• Stock rose 9% to Rs 864.35
• Revenue down 3.9% at Rs 607 crore versus Rs 632 crore
• EBITDA up 77.3% at Rs 42.2 crore versus Rs 23.8 crore
• EBITDA Margin up 310 bps at 6.9% versus 3.8%
• Net Profit up 158.9% at Rs 24.6 crore versus Rs 9.5 crore

Physicswallah Q3 (Cons, YoY)

• Stock fell 2.5% to Rs 118.51
• Revenue up 33.7% at Rs 1,082 crore versus Rs 810 crore
• EBITDA up 28.6% at Rs 236 crore versus Rs 184 crore
• EBITDA Margin down 90 bps at 21.8% versus 22.7%
• Net Profit up 9.7% at Rs 101 crore versus Rs 91.6 crore

• FY26 Real GDP Growth Seen At 7.4%
• FY26 Real GVA Growth Seen At 7.3%
• Q1FY27 Real GDP Growth Seen At 6.9% Vs 6.7% Earlier
• Q2FY27 Real GDP Growth Seen At 7% Vs 6.8% Earlier

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The yield on the 10-year note rose as much as five basis points to 6.7%

The Indian rupee strengthened by 0.85% to 90.27 against the US dollar

The NSE Nifty Bank Index extended declines after the RBI MPC keeps repo rates unchanged and retains 'neutral' stance

Sensex fell over 300 points and the Nifty traded below 25,550 after the RBI Monetary Policy Committee kept the benchmark repo rates unchanged at 5.25%.

RBI Monetary Policy Committee kept the benchmark repo rates unchanged at 5.25%.

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RBI Governor Sanjay Malhotra begins MPC speech.

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Berger Paints Q3 (Cons, YoY)

• Stock fell 2.2% to Rs 461.75 
• Revenue up 0.3% at Rs 2,984 crore versus Rs 2,975 crore
• EBITDA down 0.2% at Rs 471 crore versus Rs 472 crore
• EBITDA Margin down 10 bps at 15.8% versus 15.9%
• Net Profit down 8.3% at Rs 271 crore versus Rs 296 crore

Nykaa Q3 (Cons, YoY)

• Stock rose 4% to Rs 268
• Revenue up 26.7% at Rs 2,873 crore versus Rs 2,267 crore
• EBITDA up 63.2% at Rs 230 crore versus Rs 141 crore
• EBITDA Margin up 180 bps at 8.0% versus 6.2%
• Net Profit up 142.5% at Rs 63.3 crore versus Rs 26.1 crore

Nilkamal Q3 (Cons, YoY)

• Stock rose 2% to Rs 1,504
• Revenue up 12.6% at Rs 962 crore versus Rs 854 crore
• EBITDA up 41.3% at Rs 89.6 crore versus Rs 63.4 crore
• EBITDA Margin up 190 bps at 9.3% versus 7.4%
• Net Profit up 17.6% at Rs 25.3 crore versus Rs 21.5 crore

Tata Motors PV Q3 (Cons, YoY)

• Stock rose 1.3% to Rs 379
• Revenue down 25.8% at Rs 70,108 crore versus Rs 94,472 crore
• EBITDA down 91.0% at Rs 941 crore versus Rs 10,417 crore
• EBITDA Margin down 970 bps at 1.3% versus 11.0%
• Net Loss at Rs 3,486 crore versus Profit of Rs 5,406 crore

Astral Q3 (Cons, YoY)

• Stock traded little changed at Rs 1,504.40
• Revenue up 10.3% at Rs 1,542 crore versus Rs 1,397 crore
• EBITDA up 8.2% at Rs 238 crore versus Rs 220 crore
• EBITDA Margin down 30 bps at 15.4% versus 15.7%
• Net Profit down 5.6% at Rs 108 crore versus Rs 114 crore

Bharti Airtel Q3 (Cons, QoQ)

• Stock rose 1% to Rs 2,012.20
• Revenue up 3.5% at Rs 53,982 crore versus Rs 52,145 crore
• EBITDA up 4.1% at Rs 30,783 crore versus Rs 29,561 crore
• EBITDA Margin up 30 bps at 57.0% versus 56.7%
• Net Profit down 2.4% at Rs 6,631 crore versus Rs 6,792 crore

LIC Q3 (Cons, YoY)

• Stock rose 6.5% to Rs 893.90
• Net Premium Income up 17.4% at Rs 1.26 Lakh crore
• Net Profit up 17.5% at Rs 12,930 crore versus Rs 11,009 crore
• AUM up 8.0% at Rs 59.17 Lakh crore
• Solvency Ratio up 17 bps at 2.19% versus 2.02%

Bharti Hexacom Q3 (Standalone, QoQ)

• Stock rose 4.3% to Rs 1,698.10
• Revenue up 1.8% at Rs 2,360 crore versus Rs 2,317 crore
• EBITDA up 3.8% at Rs 1,254 crore versus Rs 1,208 crore
• EBITDA Margin up 110 bps at 53.2% versus 52.1%
• Net Profit up 12.5% at Rs 474 crore versus Rs 421 crore

Data Patterns Q3 (Standalone, YoY)

• Stock rose 3.7% to Rs 2,618.40
• Revenue up 47.9% at Rs 173 crore versus Rs 117 crore
• EBITDA up 49.2% at Rs 80.6 crore versus Rs 54 crore
• EBITDA Margin up 30 bps at 46.5% versus 46.2%
• Net Profit up 30.5% at Rs 58.3 crore versus Rs 44.7 crore

KNR Constructions Q3 (Cons, YoY)

• Stock fell 0.7% to Rs 147.83
• Revenue down 12.4% at Rs 743 crore versus Rs 848 crore
• EBITDA down 34.8% at Rs 167 crore versus Rs 256 crore
• EBITDA Margin down 770 bps at 22.4% versus 30.1%
• Net Profit down 58.6% at Rs 103 crore versus Rs 249 crore

Kaynes Tech Q3 (Cons, YoY)

• Revenue up 21.6% to Rs 804 crore versus Rs 661 crore
• EBITDA up 26.9% to Rs 119 crore versus Rs 94 crore
• EBITDA Margin up 60 basis points at 14.8% versus 14.2%
• Net Profit up 15.4% to Rs 76.6 crore versus Rs 66.4 crore

Should you Buy, sell or hold Kaynes Tech? Click here to read experts' view on the stock. 

Shares of IT companies extended declines for the third consecutive trading session. The NSE Nifty IT Index have slumped 8% so far this week due to Anthropic shock.

• Sensex fell as much as 0.3% or 225 points to 83,088
• Nifty fell as much as 0.4% to 25,533



 

Hero MotoCorp Q3 (Cons, YoY)

• Revenue up 21.7% at Rs 12,487 crore versus Rs 10,260 crore
• EBITDA up 22.5% at Rs 1,846 crore versus Rs 1,508 crore
• EBITDA Margin up 10 bps at 14.8% versus 14.7%
• Net Profit up 14.4% at Rs 1,268 crore versus Rs 1,108 crore

• Nifty Feb futures is down 0.50% to 25,720.00 at a premium of 77 points.
• Nifty Options 10th Feb Expiry: Maximum Call open interest at 27,000 and Maximum Put open interest at 25,000.   

• Sri Lotus Developers: 6 months share lock in, 79 mn lock in shares,16% of total outstanding shares
• Shanti Gold Int: 6 months share lock in, 0.02 mn lock in shares, 0.02% of total outstanding shares
• M & B Engineering: 6 months share lock in, 2 mn lock in shares, 3% of total outstanding shares   
• Laxmi India Finance: 6 months share lock in, 25 mn lock in shares, 48% of total outstanding shares
• Dr. Agarwal's Healthcare:1 yr share lock in, 36 mn lock in shares, 12% of total outstanding shares

Minda Corp said on Thursday that it appointed Ajay Agarwal as the CFO.

India's benchmark indices, Nifty and Sensex, ended lower on Thursday, ending three days of advances. The Nifty 50 ended 133 points or 0.5% lower at 25.642 and the BSE Sensex tanked 506 points or 0.6% at 83,311. The broader market showed mixed performance with the Nifty Midcap 150 down 0.3% and Nifty Smallcap 250 down 1%.

Tata Motors PV Q3 (Cons, YoY)

• Revenue down 25.8% at Rs 70,108 crore versus Rs 94,472 crore
• EBITDA down 91.0% at Rs 941 crore versus Rs 10,417 crore
• EBITDA Margin down 970 bps at 1.3% versus 11.0%
• Net Loss at Rs 3,486 crore versus Profit of Rs 5,406 crore
   

Nykaa Q3 Results (Consolidated, YoY)

• Revenue up 26.7% at Rs 2,873 crore versus Rs 2,267 crore
• EBITDA up 63.2% at Rs 230 crore versus Rs 141 crore
• EBITDA Margin up 180 bps at 8.0% versus 6.2%
• Net Profit up 142.5% at Rs 63.3 crore versus Rs 26.1 crore

• Asian markets moved lower after Wall Street gauges declined,
• US futures down in early Tokyo trade. S&P 500 futures fell 0.5% as of 10:02 a.m. Tokyo time.
• Euro Stoxx 50 futures slipped 0.4%.
• Hang Seng futures dropped 1.4% and Nikkei 225 futures (OSE) fell 0.7%.
• Japan’s Topix was little changed, and Australia’s S&P/ASX 200 fell 1.7%.

Wall Street benchmarks fell, and the Nasdaq 100 logged its steepest three-day drop since the sell-off in April.

Oil prices fell again as investors looked to planned Iran-US talks due later on Friday, which eased near-term worries about conflict and supply disruption.

Brent traded near $67 a barrel after sliding 2.8% on Thursday. West Texas Intermediate held below $63.

Futures dropped after US President Donald Trump said Iran was in talks. Prices later recovered some ground after Saudi Arabia cut prices for Asian buyers by less than expected, which traders took as a sign of steady demand.

Source: Bloomberg
 

• Consensus view: Most economists expect the RBI to hold the repo rate at 5.25% in today’s policy decision, according to a Bloomberg survey.
• Poll numbers: 34 of 39 economists see no change in rates, while five expect a 25-basis-point cut.
• Policy backdrop: Today’s decision comes days after the Union Budget and after India signed a trade deal with the United States on Monday, lowering US tariffs on Indian goods to 18% from 25%, with zero tariffs on select products.
• Inflation context: Headline CPI has averaged around 1.7% so far this financial year, remaining well within the RBI’s 2%–6% tolerance band.
• Inflation outlook: The RBI projected inflation at 2.0% in Q3 FY26, 2.9% in Q4 FY26, and 3.9% in Q1 FY27 in its December policy, indicating a gradual rise from recent lows.
• Forecast change: The December inflation path was steeper than the October projection, as the central bank factored in fading base effects.
• Growth signal: In December, the RBI projected FY26 GDP growth at 7.3%, trimming its second-half outlook slightly from October due to global trade uncertainty.
• Demand support: Policymakers continue to flag domestic demand as the key growth driver, even as high-frequency indicators remain mixed.
• Transmission constraint: Economists say monetary transmission remains weak despite 125 basis points of rate cuts since February 2025.
• Liquidity actions so far: The RBI has injected liquidity via a Rs 2.5 lakh crore CRR cut, Rs 6.95 lakh crore in OMOs, and a $25 billion FX swap.
• Market signal: Elevated money-market rates and wider corporate bond spreads indicate financial conditions remain tighter than the policy stance.

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The GIFT Nifty traded fell 0.24% lower at 25,586.50 as of 7 am, indicating a negative open to Indian equities.