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Trendlyne Marketwatch
12 Sep 2025
Market closes higher, Hindustan Copper announces a Rs 2,000 crore capex
By Trendlyne Analysis

Nifty 50 closed at 25,114 (108.5, 0.4%), BSE Sensex closed at 81,904.70 (356.0, 0.4%) while the broader Nifty 500 closed at 23,190.25 (87.6, 0.4%). Market breadth is in the red. Of the 2,553 stocks traded today, 1,143 were on the uptick, and 1,360 were down.

Indian indices closed higher after extending gains in the morning session. The Indian volatility index, Nifty VIX, fell 2.3% and closed at 10.1 points. Hindustan Copper surged 12.7% after announcing a Rs 2,000 crore capex plan over the next five to six years, aimed at acquiring new copper deposits and expanding its mining portfolio.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher. Nifty India Defence and S&P BSE CPSE were among the top index gainers today. According to Trendlyne’s sector dashboard, Hardware Technology & Equipment emerged as the best-performing sector of the day, with a rise of 2%.

Asian indices closed higher. European indices are trading in the red, except for the Netherlands’ AEX and the UK’s FTSE 100. US index futures are trading flat or lower, indicating a cautious start to the trading session. Investors expect the Federal Reserve to cut borrowing costs by at least 25 bps from the current 4.25-4.5% range on September 17, according to CME’s FedWatch Tool. Brent crude futures are trading higher after falling 1.7% on Thursday.

  • Relative strength index (RSI) indicates that stocks like Eicher Motors, Motherson Sumi Wiring, CG Power & Industrial, and Kaynes Technology are in the overbought zone.

  • Hindustan Copper surges after it announces a Rs 2,000 crore capital expenditure plan over the next five to six years. The company plans to acquire new copper deposits in India and abroad and is exploring collaborations to expand its mining portfolio.

  • ICICI Securities initiates coverage on Brigade Hotel Ventures with a 'Buy' call and a target price of Rs 117 per share. The brokerage expects the company to double its operational rooms by FY30 through nine new hotels with a planned capex of Rs 3,400 crore. They expect revenue and EBITDA to grow at a CAGR of 17% and 20% respectively, over FY26-28, supported by premium hotel additions and margin expansion.

  • Texmaco Rail & Engineering is rising as it secures an order worth Rs 129.1 crore from Rail Vikas Nigam. The order involves designing, supplying, installing, and testing two 25 kilovolt (KV) traction overhead equipments at the Yavatmal–Digras section of Central Railways.

  • A report by Anarock and Credai reveals that India’s Real Estate Investment Trust (REIT) market has shown consistent growth since its debut in 2019, reaching a valuation of approximately $18 billion as of August. With three additional REITs anticipated over the next four years, the market is projected to exceed $25 billion. Indian REITs have delivered yields of 6–7%, outperforming global averages. Meanwhile, the global Data Centre REIT sector, valued at $250 billion in 2024, is expected to double within the next seven years.

  • NLC India rises as it signs a memorandum of understanding (MoU) with Khanij Bidesh India to jointly identify, acquire, and develop mineral projects globally.

  • GMR Power & Urban Infra is rising as the Supreme Court dismisses appeals by Haryana and Odisha distribution companies in a coal allocation case. The ruling upholds the Appellate Tribunal for Electricity’s order, allowing its subsidiary, GMR Kamalanga Energy, to recover dues with interest and ensuring clarity on coal supply sharing.

  • Supreme Industries rises after JP Morgan initiates coverage with an 'Overweight' rating and a Rs 4,700 target price. The brokerage expects demand recovery in the domestic pipe industry from Q2FY26, with margin improvement in H2 to support earnings. It projects EPS growth of 17–18% CAGR over FY26-28.

  • Max Healthcare MD Abhay Soi outlines plans to add 1,000 beds within 30 days and double total capacity to 9,400 over the next four years. He notes challenges from regional unrest affecting international patient inflows, adding that the situation in Nepal may impact overseas patient numbers, similar to what occurred with Bangladesh.

  • Piramal Enterprises receives approval from the National Company Law Tribunal (NCLT) for the merger with its wholly-owned subsidiary, Piramal Finance. The company sets September 23 as the record for the merger.

  • HFCL rises sharply as Andhra Pradesh government approves allotment of 1,000 acres in Sri Sathya Sai district. The land will be used to set up defence manufacturing facilities, including artillery shells, explosive filling units, and hand grenades.

  • GMR Airports rises as 5 crore shares (0.5% stake), worth Rs 441 crore, reportedly change hands in a block deal at an average price of Rs 87.5 per share.

  • Nomura maintains a 'Buy' rating on Infosys with a target price of Rs 1,880. The brokerage views Infosys as a top pick among large-cap IT stocks, expecting the Rs 18,000 crore buyback to be largely EPS-neutral in FY26. It highlights Infosys’ goal of steadily increasing dividends every year and projects 3.8% YoY dollar revenue growth for FY26, with about 40 bps contribution from acquisitions.

  • Adani Enterprises' wholly owned subsidiary,  Adani Road Transport signs a Share Purchase Agreement (SPA) with with D P Jain TOT Toll Roads Private (DPJTOT), D P Jain & Co Infrastructure Private and DPJ-DRA Tollways Private to acquire 100% stake in DPJTOT. The acquisition, subject to approvals, is valued at an enterprise value of up to Rs 1,342 crore.

  • JSW Energy is rising as it expands its renewable energy capacity by 317 MW with hydro capacity of 240 MW, solar capacity of 34 MW and wind capacity of 43 MW, taking the total installed capacity to 13,097 MW.

  • Travel Food Services is rising as Cochin International Airport grants it a five-year license to manage food & beverages (F&B) outlets, a lounge, and a bar at domestic terminal. The deal covers 11 quick-service restaurants and one lounge in the security hold area.

  • Steel Secretary Sandeep Poundrik says the PLI scheme for specialty steel will be announced soon, with a decision on safeguard duty expected by November 6. He expects steel demand and prices to rise post-monsoon and projects consumption to reach 230–240 million tonnes by 2030. He also clarifies that there are no current plans for setting a minimum import price.

  • Marico is rising as it plans to acquire the remaining 46% stake in HW Wellness Solutions, which owns ‘True Elements’, for Rs 138 crore to expand its presence in the healthy breakfast and snacking category. With the acquisition, HW Wellness will become the wholly-owned subsidiary of Marico.

  • JBM Auto surges as its subsidiary, JBM Ecolife Mobility, secures a $100 million (~Rs 882 crore) investment from International Finance Corp (IFC). The funding will be used to deploy 1,455 electric buses across Maharashtra, Assam, and Gujarat.

  • Lodha Developers signs a memorandum of understanding (MoU) worth Rs 30,000 crore with the Maharashtra government for setting up a data centre park in Palava. Spread across 370 acres, the renewable energy-powered project will generate about 6,000 jobs.

  • Gujarat State Petronet declines as Morgan Stanley downgrades the stock to an 'Equalweight' rating and a lower target price of Rs 295. The brokerage views GAIL and Petronet LNG as stronger bets on India’s gas adoption story, citing GSPL’s limited growth capex and pipeline expansion. It believes future growth hinges on transmission volumes, tariffs, and capex for planned network expansion.

  • Indian Overseas Bank lowers its marginal cost of lending rate (MCLR) by up to 5 bps on select tenures, effective September 15. The one-year and two-year MCLR now stand at 8.85%, while the three-year rate is revised to 8.9%.

  • Insolation Energy is rising as it receives an order worth Rs 143.2 crore from Zetwerk Manufacturing Businesses to supply solar modules.

  • NBCC is rising as it signs a memorandum of understanding with Rajasthan State Industrial Development & Investment Corporation (RIICO) for the development of Rajasthan Mandapam and allied infrastructure projects near Jaipur International Airport. The project is valued at Rs 3,700 crore.

  • Infosys' board of directors approves a share buyback of Rs 18,000 crore. The company plans to repurchase 10 crore fully paid-up equity shares, representing up to 2.4% of its total equity, at Rs 1,800 per share.

  • Nifty 50 was trading at 25,053.30 (47.8, 0.2%), BSE Sensex was trading at 81,758.95 (210.2, 0.3%) while the broader Nifty 500 was trading at 23,146.75 (44.1, 0.2%).

  • Market breadth is in the green. Of the 2,070 stocks traded today, 1,259 showed gains, and 733 showed losses.

Riding High:

Largecap and midcap gainers today include Mazagon Dock Shipbuilders Ltd. (2,924.70, 4.7%), Supreme Industries Ltd. (4,532.70, 4.1%) and Samvardhana Motherson International Ltd. (104.69, 4.0%).

Downers:

Largecap and midcap losers today include GlaxoSmithKline Pharmaceuticals Ltd. (2,774, -3.1%), Waaree Energies Ltd. (3,634.20, -2.8%) and Jindal Stainless Ltd. (740.95, -2.7%).

Crowd Puller Stocks

22 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included JBM Auto Ltd. (712.95, 13.9%), Hindustan Copper Ltd. (280.05, 12.7%) and Garden Reach Shipbuilders & Engineers Ltd. (2,581.90, 9.6%).

Top high volume losers on BSE were Metropolis Healthcare Ltd. (2,063, -2.9%), Eris Lifesciences Ltd. (1,675.90, -1.4%) and NBCC (India) Ltd. (106.49, -1.2%).

BEML Ltd. (4,420.40, 9.1%) was trading at 11.8 times of weekly average. Lodha Developers Ltd. (1,168.30, -1.0%) and Hindustan Zinc Ltd. (462.95, 3.7%) were trading with volumes 6.8 and 4.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

8 stocks took off, crossing 52 week highs,

Stocks touching their year highs included - Bajaj Finance Ltd. (1,003.25, 3.4%), L&T Finance Ltd. (234.96, 0.6%) and Zydus Wellness Ltd. (2,537, -0.6%).

23 stocks climbed above their 200 day SMA including JBM Auto Ltd. (712.95, 13.9%) and Hindustan Zinc Ltd. (462.95, 3.7%). 11 stocks slipped below their 200 SMA including Mastek Ltd. (2,452.80, -2.1%) and Amara Raja Energy & Mobility Ltd. (1,029.45, -2.1%).

 
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The Baseline
12 Sep 2025
Thin promises: Weight loss drugs are gaining ground in India

Like many of us, I sometimes fall into the pattern of ordering Swiggy one too many times, and get a bit chubby.

Soon enough, the comments start. Indian families don't hold back. From a favourite aunt who's handing me a plate of biryani: "Start your diet after eating this". From an uncle I haven't seen in a while: "Is that two of you or one?" and so on. 

After the cutting comments, I do a whole year of avoiding my favourite sweets and snacks. Icecream is banished from the freezer, kit-kat is my enemy. But after losing the weight, my favourite foods return to the table. The supermodel Kate Moss once said that "Nothing tastes as good as skinny feels." I think she just never encountered a truly excellent jalebi. 

Enter the GLP-1 drugs, a magical promise for the weak-willed among us.

The new generation GLP-1 weight loss medications have been called "miracle drugs" because they cause 15–25% weight loss on average, way more than any drug that came before. For a 60 kg person, that's a weight loss of at least nine kgs – the difference between rude comments and compliments.

We humans spend a lot of effort trying to resist the food that make us gain weight. The GLP drugs target brain pathways that manage our appetite, so that we just don't feel hungry.  By outsourcing our willpower to these drugs, we can get a version of ourselves that wins the approval of uncles, aunties and dates everywhere. 

GLP drugs are coming in just as India gets fatter

You are meeting your college friend after 20 years. When you see him you try to hide your shock
– more likely than not, he's much fatter than you remember.

Most college-age people are thin, but the percentage of thin people falls rapidly in each older age group. The total numbers are also higher than ever before. There are now about 254 million people classified as obese in India, and 40 million on diabetes medications.

Despite the price tag, weight loss drugs are growing fast

Eli Lilly launched its anti-obesity drug, Mounjaro (tirzepatide), in India in March 2025. Mounjaro is a weekly dose, and a month's supply costs Rs 14,000-17,500.

Despite the price, the drug has crossed Rs 100 crore in sales in just four months, making it one of the country’s fastest-growing prescription brands ever by value. The drug had sales of Rs 47 crore in July, double its June figure.

Weight loss will be the "largest category of drugs" in India within five years, as generics boom

Right now the GLP-1 market globally is a duopoly of Novo Nordisk and Eli Lilly. These companies built on decades-long diabetes research to come up with these revolutionary drugs for weight loss. 

But the patents for semaglutide, the active ingredient in Ozempic and Wegovy, are set to expire in India in March 2026. This will pave the way for a "generic tsunami," with major Indian pharma companies like Sun Pharma, Dr. Reddy's and Lupin getting ready to launch affordable generics. The CEO of India Business at Sun Pharma, Kirti Ganorkar, says that Sun will be among the first to launch GLP generics in India on patent expiry. They are also planning to launch in non-US markets like Canada and Brazil.

With the entry of generics next year, drug prices are set to crash by as much as 80% from the current price tag of Rs. 14000+ a month. “Weight-loss molecules like semaglutide and tirzepatide will be the largest category of drugs in the country in the next 4-5 years,” Vishal Manchanda, pharma analyst at Systematix Group says. He estimates that India's weight-loss drug market will rise from Rs. 700 crore today to Rs 8,000-10,000 crore by 2030.

The GLP effect on other industries

Early evidence suggests that the impact of these drugs will not be limited to India's pharma sector. Their role in killing appetite has according to JP Morgan, slowed growth in the FMCG and food sectors in the US, and caused this segment to underperform the S&P 500 by nearly 40% year to date.

“We have seen a number of...disruptions come and go in consumer staples over the years, but never one quite like GLP-1,” Ken Goldman, an equity analyst at JP Morgan says. Current GLP-1 users in the US purchase around 8% less of items like snacks, packaged foods and soft drinks compared with the average consumer. If this pattern holds in India, it could mean slowing growth across FMCG and QSR.

Companies like PepsiCo and Nestle are already set to launch smaller portion sizes and healthier options in the US. Companies here may have to plan similarly, as Indian consumers get on GLP-1s.

 
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Trendlyne Marketwatch
11 Sep 2025
Market closes higher, Tega Industries to buy Molycop with Apollo Funds in a $1.5 bn deal
By Trendlyne Analysis

Nifty 50 closed at 25,005.50 (32.4, 0.1%), BSE Sensex closed at 81,548.73 (123.6, 0.2%) while the broader Nifty 500 closed at 23,102.65 (28.5, 0.1%). Market breadth is in the red. Of the 2,551 stocks traded today, 1,190 were gainers and 1,313 were losers.

Indian indices fluctuated between gains and losses throughout the session but ended marginally higher. The Indian volatility index, Nifty VIX, fell around 1.7% and closed at 10.2 points. Kalpataru Projects International closed 2.3% higher as it secured new orders worth Rs 2,720 crore across its power transmission & distribution and buildings businesses.

Nifty Smallcap 100 and Nifty Midcap 100 closed flat. Nifty Oil & Gas and BSE Power closed in the green. According to Trendlyne’s Sector dashboard, Forest Materials emerged as the best-performing sector of the day, with a rise of 4.1%.

European indices are trading in the green, except for Russia’s MOEX and RTSI. Major Asian indices closed mixed. US index futures are trading higher, indicating a positive start to the session, as investors await the release of the retail inflation print later today. Brent crude futures are trading lower amid weak demand in the US, following a week of strong gains driven by rising tensions in Russia and the Middle East.

  • Money flow index (MFI) indicates that stocks like Eicher Motors, Motherson Sumi Wiring, Kaynes Technology, and Netweb Technologies are in the overbought zone.

  • Shyam Metalics and Energy enters the crash barrier segment (road safety barriers), targeting 8-10% market share in FY26. The company plans to invest a total of Rs 100 crore across its Jharkhand and Odisha facilities to expand capacity and diversify products.

  • Veranda Learning Solutions' board approves the demerger of its commerce vertical as part of the ‘Veranda 2.0’ vision. The new entity, J.K. Shah Commerce Education, will handle all future commerce operations.

  • Tata Motors' arm Jaguar Land Rover (JLR) faces a cybersecurity incident affecting some data and forcing an extended system shutdown. The breach has reportedly disrupted production and sales, potentially costing up to £5 million (~Rs 59.7 crore) per day.

  • A Union Bank of India report indicates that India’s wholesale inflation likely turned positive in August, rising to 0.5% YoY from -0.6% in July. Food inflation, after two months of deflation, likely returned to the positive territory, with price increases observed across most sub-segments.

  • Motilal Oswal initiates coverage on Bajaj Housing Finance (BHFL) with a 'Neutral' rating and a target price of Rs 120 per share. The brokerage notes BHFL’s strong position as the second-largest HFC with solid asset quality and AAA ratings. However, it warns that rising competition from banks could slow growth and put pressure on RoE. It expects AUM and net profit to grow at ~22% CAGR over FY26-28.

  • Prostarm Info Systems is rising as it receives a Rs 158.7 crore order to manage crime and criminal tracking network & systems (CCTNS) IT infrastructure across Maharashtra police establishments. The project includes supply, installation, commissioning, and maintenance of related peripherals.

  • Ambuja Cements is falling as 2.8 crore shares (1.2% stake), worth approximately Rs 1,546 crore, reportedly change hands in a block deal at an average price of Rs 552 per share.

  • HSBC Global upgrades NTPC to a 'Buy' rating with a higher target price of Rs 400. The brokerage notes that NTPC has resolved thermal project delays with the commissioning of two plants. The company has another 1.4 GW unit, which is due to be commissioned by FY26. The power company is testing battery integration with low-cost coal plants to boost grid stability, cut curtailments, and supply cheaper power to distributors.

  • Apollo Micro Systems surges as its subsidiary, Apollo Defence Industries (ADIPL), signs a memorandum of understanding with Dynamic Engineering and Design, USA. The agreement involves technology transfer, co-development, and potential licensed production of rocket motors for BM-21 Grad rockets.

  • BSE and Angel One fall sharply as SEBI is reportedly preparing a consultation paper to end weekly F&O contracts and shift to monthly expiries. The regulator may also propose curbs on retail participation and same-day expiries across exchanges. The SEBI board is set to meet on September 12.

  • SpiceJet is rising as it reaches a settlement with Carlyle Aviation Partners, receiving $89.5 million (approximately Rs 790 crore) in cash and credits to fund aircraft maintenance and offset lease obligations.

  • A poll of economists suggests India’s retail inflation likely rose to 2.2% in August, up from July’s eight-year low of 1.6%. The increase is attributed to higher food prices from crop damage caused by excess rains, as well as a low base effect. Additionally, rising costs in services such as personal care and elevated gold prices are expected to push core inflation higher.

  • BEML is reportedly set to be upgraded from Miniratna to Navratna status, giving it a greater financial and operational flexibility.

  • Reliance Communications receives a show-cause notice from Central Bank of India over non-repayment of Rs 400 crore loans and violation of sanction terms. The company has 21 days to respond before its account is declared fraudulent and reported to the RBI.

  • Gujarat Fluorochemicals is falling as a gas leak at its Panchmahal plant reportedly kills one person and injures 12. The leak originated from a damaged pipeline releasing R-32 gas, a refrigerant used in air conditioning systems.

  • Nomura initiates coverage on Gail India with a 'Buy' rating and a target price of Rs 225. The brokerage notes that a tariff hike of over 20% could offer Gail a one-time boost and potentially surprise investors positively. It also highlights that recovery in the petrochemical segment is likely to begin from FY27, driving strong investor interest in the stock.

  • Tega Industries’ board approves a $1.5 billion (~Rs 13,216 crore) deal to acquire global mining consumables giant Molycop in partnership with Apollo Funds. Upon closure, Tega will hold a controlling stake, while Apollo Funds will retain a significant minority interest.

  • Adani Power is rising as it secures a letter of award (LoA) from MP Power Management (MPPMCL) to supply additional electricity from a new 800 MW ultra-supercritical thermal power plant in Madhya Pradesh. This takes the total awarded capacity to 1,600 MW, with a planned capex of Rs 21,000 crore.

  • ACME Solar Holdings is rising as it secures Rs 3,892 crore in project funding from State Bank of India (SBI) to develop a 400 MW firm and dispatchable renewable energy (FDRE) project in Barmer, Rajasthan.

  • Japan's Sumitomo Mitsui Banking Corp sells 3.2 crore shares of Kotak Mahindra Bank, in a block deal valued at Rs 6,256 crore. Meanwhile, major buyers in the deal include Abu Dhabi Investment Authority (ADIA), Goldman Sachs Bank Europe SE, Amundi Funds, and BlackRock Global Funds.

  • Kalpataru Projects International is rising as it secures new orders worth Rs 2,720 crore in power transmission and distribution (T&D) in India and overseas, and its buildings and factories (B&F) business in India.

  • Jupiter Wagons rises sharply as its subsidiary receives an order worth Rs 113 crore from the Ministry of Railways to supply 9,000 Linke Hofmann Busch (LHB) axles for FIAT-Indian Railways (IR) bogies.

  • Rail Vikas Nigam is rising as it secures an order worth Rs 169.5 crore from West Central Railway. The order involves building traction substations and related systems between Bina Junction and Ruthiyai station in the Bhopal Division, aimed at meeting a 3,000 metric tonne loading target.

  • Dr. Reddy's Laboratories signs a $50.5 million (Rs 445 crore) deal with Johnson & Johnson affiliate Janssen Pharmaceutica NV to acquire the anti-vertigo drug 'Stugeron'. The acquisition strengthens its central nervous system (CNS) portfolio in India and emerging markets by adding the antivertigo segment.

  • Nifty 50 was trading at 25,000.80 (27.7, 0.1%), BSE Sensex was trading at 81,217.30 (-207.9, -0.3%) while the broader Nifty 500 was trading at 23,112.90 (38.8, 0.2%).

  • Market breadth is surging up. Of the 2,066 stocks traded today, 1,374 were in the positive territory and 619 were negative.

Riding High:

Largecap and midcap gainers today include Waaree Energies Ltd. (3,739.80, 7.5%), Aurobindo Pharma Ltd. (1,109.20, 5.6%) and Bharat Heavy Electricals Ltd. (229.08, 4.1%).

Downers:

Largecap and midcap losers today include Gujarat Fluorochemicals Ltd. (3,629.30, -3.1%), Sona BLW Precision Forgings Ltd. (439.95, -2.2%) and Jindal Stainless Ltd. (761.20, -2.2%).

Movers and Shakers

31 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Waaree Energies Ltd. (3,739.80, 7.5%), Aurobindo Pharma Ltd. (1,109.20, 5.6%) and Neuland Laboratories Ltd. (15,554, 5.1%).

Top high volume losers on BSE were Angel One Ltd. (2,216, -5.2%), Kama Holdings Ltd. (2,965, -1.8%) and Adani Power Ltd. (624.65, -1.5%).

Jupiter Wagons Ltd. (333.45, 4.5%) was trading at 23.8 times of weekly average. Ambuja Cements Ltd. (560.40, -1.1%) and Gujarat State Petronet Ltd. (310, 3.5%) were trading with volumes 18.2 and 16.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

5 stocks took off, crossing 52 week highs, while 1 stock tanked below their 52 week lows.

Stocks touching their year highs included - Fortis Healthcare Ltd. (965.95, -0.1%), Indian Bank (695.85, 0.5%) and Zydus Wellness Ltd. (2,551.90, 2.6%).

Stock making new 52 weeks lows included - United Breweries Ltd. (1,794, -0.3%).

31 stocks climbed above their 200 day SMA including Bharat Heavy Electricals Ltd. (229.08, 4.1%) and Firstsource Solutions Ltd. (365.35, 2.5%). 8 stocks slipped below their 200 SMA including Whirlpool of India Ltd. (1,330, -2.9%) and Ola Electric Mobility Ltd. (57.98, -2.3%).

 
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The Baseline
11 Sep 2025
By Divyansh Pokharna

India's IPO market remains a hotbed of activity in 2025. Indian investors have been enthusiastic and actively participating in new issues. But they are also becoming far more selective, picking companies with strong fundamentals while staying away from ones with aggressive valuations.

An analyst noted at the ET Soonicorns Summit 2025, “IPOs are making a comeback, but the rules have changed. The old ‘growth at any cost’ approach is fading, and investors now want companies to show profitability, good governance, and transparency before putting in their money”.

Interestingly, while the total number of IPOs has dipped slightly from 217 in 2024 to 197 in 2025 in the January to August period, the amount of money raised has surged by nearly Rs 10,000 crore. This signals a trend of fewer but much larger companies going public. Much of this fundraising has been led by big-ticket issues such as HDB Financial Services (Rs 12,500 crore), Hexaware Technologies (Rs 8,750 crore), Knowledge Realty Trust (Rs 4,800 crore), NSDL (Rs 4,011 crore), and JSW Cement (Rs 3,600 crore), etc.

The pipeline of upcoming offerings is fueling further excitement. Audio and wearable brand boAt is targeting an IPO of Rs 2,000 - Rs 2,500 crore by late 2025. Digital payments leader PhonePe, which handles nearly half of all UPI transactions in India, is expected to file its papers by September 2025. Meanwhile, after a long wait, hospitality startup Oyo is making another attempt at going public, planning to file papers in November 2025. This is Oyo’s third DRHP filing - it withdrew the first, and SEBI sent the papers back on its second attempt. Maybe it will be lucky this time. 

The immediate calendar is also packed, with home-services leader Urban Company's Rs 1,900 crore issue that opened on September 10 with an expected listing on September 17. Dev Accelerator and Shringar House of Mangalsutra are also opening on the same dates.

In the edition of Chart of the Week, we take a closer look at India’s IPO market in 2025, highlighting strong investor interest, sector-wise trends, and how selective participation is shaping post-listing performance.

High-flyers and hard landings in 2025

The 2025 IPO market has split into two clear tracks. On one side are the standout performers, where strong fundamentals and heavy bidding translated into healthy gains. Highway Infrastructure leads the pack with a 64.3% listing gain, followed by Aditya Infotech (50.4%) and GNG Electronics (49.8%).

What these companies had in common was high subscription—Highway Infrastructure saw a subscription of over 300X, while Aditya Infotech and GNG Electronics drew bids of 100X and 148X, respectively. All three IPOs saw strong demand from institutional investors, even though the qualified institutional buyers’ (QIBs) average subscription was far behind the HNIs and retail investors.

On the other side are companies that have struggled since their listing day. Laxmi Finance and Indiqube Spaces listed at discounts, losing 13% and 8.9% respectively, while Arisinfra Solutions is currently trading at a 35% discount. The reasons are clear: investors were turned off by factors such as the company not yet being profitable (Indiqube), high debt and a negative PE ratio (Arisinfra), or an issue that simply failed to generate demand, with subscriptions at just 1.9X (Laxmi Finance).

While the overall IPO activity is high, mainline offerings drove the market. In 2024, more mainboard IPOs led to higher funds raised, unlike previous years when SME IPOs surged but raised less due to fewer mainline listings.

Where are investors betting big?

Diving down into specific sectors reveals where investor capital is flowing and why. The cement and construction companies saw one of the strongest listing gains, supported by the government’s infrastructure push through initiatives like the National Infrastructure Pipeline (NIP) and PM Gati Shakti. This policy-driven tailwind fueled the confidence behind Highway Infrastructure’s successful listing.

The hardware technology & equipment sector also delivered healthy listing gains, with Aditya Infotech and GNG Electronics gaining from rising digital adoption and demand for smart-home solutions.

Conversely, the hotels & tourism sector struggled, with Brigade Hotel Ventures and Schloss Bangalore (Leela Hotels) both debuting below their issue prices—at discounts of 9.9% and 6.7%, respectively. Investor caution was evident, as both IPOs were only moderately subscribed at 4.5X. The performance reflects underlying financial uncertainties: Leela Hotels returned to profitability in FY25 after a Rs 2 crore loss in FY24, while Brigade’s net profit declined in FY25.

The general industrials sector saw the highest mainline listings, including Ellenbarrie Industrial Gases, Standard Glass Lining, and Vikran Engineering. Overall, the sector saw generally positive performance, though listing trends were mixed. Ellenbarrie and Standard Glass Lining recorded strong listing gains of over 21%, while Vikran Engineering posted a modest gain of 2%.

The trend in 2025 so far is clear: investor appetite is selective. Companies tied to policy support or structural demand shifts are being rewarded, while those relying on market buzz or stretched valuations face immediate pushback.

Decoding the push behind IPO oversubscriptions

A look at subscription data reveals three distinct investor mindsets. Leading the charge are high-net-worth individuals (HNIs), who oversubscribed their portion by an average of 215X. This aggressive demand is driven by a strategy focused on short-term listing gains. 

HNIs often use leverage or borrow funds to place large bids, aiming to profit from the initial "listing pop." Their high-risk, high-reward approach is often a key factor in the massive oversubscription of a public issue, but it can also be a sign of a speculative bubble forming around a company.

Retail investors also showed considerable enthusiasm, with their category being oversubscribed by an average of 91.6X. However, the most insightful trend is seen in the QIBs, which include mutual funds and foreign institutional investors. Their average subscription stood at 45.5X – relatively lower, as the portion allotted to them is much higher than that of HNIs and retail investors, which naturally brings down their subscription multiples.

QIBs are long-term, fundamental-driven investors who are less influenced by market hype. Their participation is often seen as a mark of a company's genuine long-term value, as they are not chasing a quick exit.

Harshal Dasani, Business Head, INVAsset PMS, said, “This divergence—weak secondary trade but robust primary activity—is common in maturing markets. Domestic capital is able to support new issues even when global sentiment is weak. It shows investors prefer fresh growth stories over crowded secondary valuations.”

 
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Trendlyne Marketwatch
10 Sep 2025
Market closes higher, IDBI Bank files an insolvency case against Zee Entertainment
By Trendlyne Analysis

Nifty 50 closed at 24,973.10 (104.5, 0.4%) , BSE Sensex closed at 81,425.15 (323.8, 0.4%) while the broader Nifty 500 closed at 23,074.15 (125.1, 0.5%). Market breadth is in the green. Of the 2,544 stocks traded today, 1,459 were gainers and 1,041 were losers.

Indian indices closed higher amid optimism over India-US trade talks, as President Trump signaled a more conciliatory approach. The Indian volatility index, Nifty VIX, declined 1.4% and closed at 10.5 points. IDBI Bank filed an insolvency case against Zee Entertainment at the National Company Law Tribunal (NCLT), Mumbai. The bank alleged a default of Rs 225.2 crore, along with interest and other charges.

Nifty Midcap 100 & Nifty Smallcap 100 closed in the green, following the benchmark index. Nifty IT and Nifty India Defence were among the top index gainers today. According to Trendlyne’s Sector dashboard, Software & Services emerged as the best-performing sector of the day, with a rise of 2.4%.

Asian indices closed in the green, while European indices are trading higher except Russia’s MOEX & RTSI indices. US index futures traded mixed. JPMorgan CEO Jamie Dimon voiced caution over the US economic outlook, warning that the full impact of tariffs and rising geopolitical tensions may still lie ahead. Meanwhile, oil prices edge higher as tensions escalate between Israel and Qatar, and fears mount over potential new western sanctions on Russia following major airstrikes on Ukraine in recent months.

  • Relative strength index (RSI) indicates that stocks like Eicher Motors, TVS Motor, Netweb Technologies and Hero MotoCorp are in the overbought zone.

  • IDBI Bank files an insolvency case against Zee Entertainment Enterprises at the National Company Law Tribunal (NCLT), Mumbai. The bank alleges a default of Rs 225.2 crore, along with interest and other charges, under the Insolvency and Bankruptcy Code.

  • Laxmi Organic Industries enters a five-year deal with Switzerland-based Hitachi Energy to supply eco-efficient gas for high-voltage switchgear. The company plans a capital expenditure of around Rs 75 crore under the agreement.

  • Healthcare Global Enterprises is rising as nearly 3.2 crore shares (4.5% stake), worth Rs 437.9 crore, reportedly change hands in a block deal.

  • According to data released by the Association of Mutual Funds in India (AMFI), mutual funds' net equity inflows decline 21% MoM to Rs 33,430 crore in August. Meanwhile, total assets under management (AUM) decrease to Rs 75.2 lakh crore from 75.4 lakh crore in July.

  • Syrma SGS Technology receives 26.7 acres of land in Andhra Pradesh to set up India's largest multi-layer printed circuit board (PCB) manufacturing facility for an investment of Rs 1,595 crore.

  • Sun Pharmaceutical Industries receives 'official action indicated' (OAI) classification from the US FDA following an inspection at its Halol facility. The status indicates the facility is not fully compliant with certain current good manufacturing practices (CGMP) standards.

  • CLSA maintains an 'Outperform' rating on UltraTech Cement with a target price of Rs 13,500. The brokerage expects a revival in demand due to tax cuts and price adjustments. The company sees 10–11% growth in H2 FY25, driven by higher discretionary spending from income tax cuts, lower interest rates, and GST relief. It adds that replacing the coal cess with GST could also cut costs by Rs 20 per tonne.

  • Hindustan Aeronautics rises over 2% as it signs a technology transfer agreement for Small Satellite Launch Vehicle (SSLV) technology with the Indian National Space Promotion and Authorisation Centre, NewSpace India and Indian Space Research Organisation. HAL CMD D.K. Sunil says the company will work with the agencies to absorb and commercialise SSLV tech, ensuring reliable small satellite launches.

  • ICICI Securities maintains its 'Buy' call on CESC, with a target price of Rs 204 per share, indicating a potential upside of 26.7%. The brokerage expects CESC to double profits by FY30, driven by renewable energy expansion, distribution asset investments, and solar manufacturing. It highlights growth opportunities from DISCOM privatisation in Uttar Pradesh and the first phase of 3.2GW RE capacity addition.

  • Goldiam International is rising as it receives an order worth Rs 100 crore from an international client to manufacture and export lab-grown diamond jewellery.

  • Goodluck India falls sharply after it cuts its FY26 revenue growth forecast to 12% from 20%, citing uncertainties in the business environment.

  • Fitch Ratings raises its FY26 GDP growth forecast for India to 6.9% from 6.5%, citing strong domestic demand. It expects robust consumer spending and easier financial conditions to drive investment. Fitch also notes that recent GST reforms modestly boost consumption, with household spending remaining the main growth driver.

  • Rajesh Power Services is rising as it receives an order worth Rs 143.1 crore from Dakshin Gujarat Vij (DGVCL). The contract involves converting the existing high-voltage 11/22kV network to underground cables under the system improvement scheme in Valsad City, Valsad Rural, and Surat Rural.

  • Sri Lotus Developers and Realty is rising as it secures an ultra-luxury re-development project in Bandra West, Mumbai.

  • Thermax is rising after it infuses Rs 115 crore in its subsidiary First Energy to support investments in its step-down unit First Energy 10. The funding will support new renewable energy projects under FE10 in solar, wind, and hybrid segments.

  • CarTrade Tech declines over 9% as JM Financial downgrades its rating to 'Sell' with a revised target price of Rs 2,350. The brokerage believes the company's valuation is high because it still depends entirely on B2B revenue. It adds that CarTrade has B2C platforms, but they don't shield it from the cyclical nature of B2B spending. JM Financial also adds that while the OLX recovery is a positive sign, it was expected and doesn't justify a change to their forecast.

  • Vodafone Idea rises as it files a fresh plea in the Supreme Court over the adjusted gross revenue (AGR) case. The company seeks a re-evaluation of AGR dues, challenging the current computation of the amount owed.

  • Seafood stocks like Avanti Feeds and Apex Frozen Foods surge as the European Union approves exports from 102 more Indian units, lifting the total to 604. The move is expected to boost seafood exports by about 20% and offset pressure from US shrimp tariffs.

  • Textile stocks like Welspun Living, Gokaldas Exports and Vardhman Textiles rise sharply as hopes of an India-US trade deal revive. The optimism comes after Donald Trump said trade talks are continuing and discussions with Prime Minister Modi are expected.

  • Noumura maintains a 'Buy' rating on Cummins India with a higher target price of Rs 4,500. The brokerage notes Cummins' focus on industrial stationary storage over large utility-scale battery energy storage systems (BESS). The company will still rely on China for most of its manufacturing, but it aims to add value through differentiated features, with BESS expected to enhance its overall product offering.

  • Blue Jet Healthcare is falling as its promoter, Akshay Bansarilal Arora, plans to sell a 6.8% stake (or 1.2 crore shares) worth Rs 800 crore through an offer for sale (OFS) at a floor price of Rs 675.

  • Vikram Solar surges to its all-time high of Rs 408 as its net profit grows 4.8X YoY to Rs 133.4 crore in Q1FY26. Revenue increases 79.7% YoY to Rs 1,133.6 crore, helped by backward integration into solar cell production. The company appears in a screener of stocks with improving net cash flow over the past two years.

  • MTAR Technologies surges as it secures an order worth $43.9 million (approximately Rs 386 crore) from Bloom Energy to supply fuel cell components and assemblies.

  • Sterling and Wilson Renewable Energy is rising as it receives an order worth Rs 415 crore from a leading private independent power producer (IPP). The project involves setting up a 300 MW solar plant in Rajasthan along with a power substation.

  • Markets rise on early trading, Nifty 50 was trading at 24,962.65 (94.1, 0.4%), BSE Sensex was trading at 81,504.36 (403.0, 0.5%) while the broader Nifty 500 was trading at 23,062.75 (113.7, 0.5%).

  • Market breadth is ticking up strongly. Of the 2,092 stocks traded today, 1,589 were on the uptick, and 446 were down.

Riding High:

Largecap and midcap gainers today include Oracle Financial Services Software Ltd. (9,264.50, 10.1%), Waaree Energies Ltd. (3,477.80, 6.7%) and Persistent Systems Ltd. (5,419, 5.6%).

Downers:

Largecap and midcap losers today include Swiggy Ltd. (423.90, -2.9%), MRF Ltd. (1,45,255, -2.7%) and Avenue Supermarts Ltd. (4,631.30, -2.7%).

Movers and Shakers

33 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Oracle Financial Services Software Ltd. (9,264.50, 10.1%), Welspun Living Ltd. (125.53, 9.9%) and Vardhman Textiles Ltd. (442.95, 8.1%).

Top high volume losers on BSE were Supreme Industries Ltd. (4,282.50, -2.2%), Poly Medicure Ltd. (1,970, -1.7%) and Kalpataru Projects International Ltd. (1,258.50, -1.0%).

Himadri Speciality Chemical Ltd. (468.40, 4.0%) was trading at 13.9 times of weekly average. International Gemmological Institute (India) Ltd. (373.55, 7.1%) and Trident Ltd. (29.16, 3.7%) were trading with volumes 13.2 and 9.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

9 stocks took off, crossing 52 week highs,

Stocks touching their year highs included - Bosch Ltd. (41,060, -1.1%), Cummins India Ltd. (4,015.90, 0.1%) and Indian Bank (692.40, 3.3%).

33 stocks climbed above their 200 day SMA including Zensar Technologies Ltd. (825.30, 6.1%) and Intellect Design Arena Ltd. (1,015.65, 5.8%). 6 stocks slipped below their 200 SMA including Kansai Nerolac Paints Ltd. (244.76, -1.6%) and Voltas Ltd. (1,394.90, -1.2%).

 
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The Baseline
09 Sep 2025
Five stocks to buy from analysts this week - September 9, 2025
By Ruchir Sankhla

1. Britannia Industries:

Axis Direct upgrades its rating to ‘Buy’ on this packaged foods company with a target price of Rs 6,750, an upside of 9.9%. Analyst Suhanee Shome cites the recent Goods and Services Tax (GST) reduction as the primary reason for the upgrade.

The GST on biscuits, packaged foods, chocolates, dairy products, and beverages has been lowered to 5%. Shome notes this will make products cheaper, boost demand, and narrow the price gap with unorganised competitors who previously benefited from tax evasion. This change should help Britannia compete more effectively on price and increase its market share. Additionally, she expects this could encourage premiumisation, where consumers shift to higher-value products within Britannia’s portfolio at more affordable prices.

In Q1FY26, the company reported revenue growth of 8.8% YoY, supported by higher sales volume and price hikes. Rural markets delivered double-digit growth, while urban growth was supported by e-commerce. Market share gains were seen in most regions, although East India was impacted by distribution restructuring.

2. ICICI Bank:

Emkay retains its 'Buy' rating on this bank, with a target price of Rs 1,700, an upside of 21.1%. In Q1FY26, ICICI Bank’s credit growth slowed to 12% YoY due to weaker demand in retail and corporate loans. However, growth in the small and medium enterprise (SME) segment remained strong at 30% and now constitutes about a fifth of the loan book. Management noted that home loan growth was affected by higher interest rates, but the recent rate cut could help improve demand. 

Analysts Anand Dama and Nikhil Vaishnav highlight that ICICI Bank is strengthening its position through digital banking and cross-selling products. Its SME loans are mostly large-ticket, which reduces risk. Investments in technology and better banking processes are helping the bank to manage costs, improve efficiency and maintain a strong portfolio.

Despite near-term challenges, Dama and Vaishnav expect ICICI Bank to deliver a return on assets of 2.1-2.3% over FY26-28, supported by cost control and stable asset quality. They also mention that the upcoming listing of ICICI Prudential Asset Management Company could unlock more value for shareholders.

3. Zydus Lifesciences:

Geojit BNP Paribas reiterates its 'Buy' rating on this pharma company, with a target price of Rs 1,121, an upside of 8.3%. In Q1FY26, the company’s revenue grew 5.9% YoY to Rs 6,574 crore, led by pharmaceuticals and consumer products. Domestic formulation sales rose 8%, driven by chronic therapies in oncology (cancer treatment) and cardiology (heart treatment).

Management noted that the impact of US pharmaceutical tariffs remains uncertain, but they will continue to supply generics, which constitute about 90% of the US market. They also guided growth in the high-teen to mid-20% range in international markets. The company plans to invest Rs 300 crore in medical devices and healthcare technology (MedTech) over the next 12-18 months.

Analyst Gopika Gopan expects key priorities to include the launch of the blockbuster drug Semaglutide, a treatment for type 2 diabetes and obesity. Other priorities are likely to be the commercialisation of Desidustat (an anaemia treatment) in China and the rollout of robotic surgery systems in Europe. She adds that Zydus is well placed to sustain growth across India, the US, and emerging markets, driven by specialty launches and MedTech expansion.

4. Premier Explosives:

ICICI Direct initiates a 'Buy' rating on this small-cap explosives manufacturer, with a target price of Rs 680, an upside of 26.9%. Analysts Vijay Goel and Kush Bhandari note that the company’s order book stood at Rs 989 crore in Q1FY26, which is 2.1 times its annual revenue, providing clear visibility for the next 2-3 years.

The company is undergoing a capacity expansion at its Katepally facility to integrate advanced explosives and rockets. At the same time, a new greenfield plant in Odisha is set to add ammunition and raw material production in phases. The company also plans to raise Rs 300 crore to fund expansion and repay debt. Management expects revenue to grow around 44% to Rs 600 crore in FY26.

Goel and Bhandari highlight that the company is benefiting from strong industry tailwinds, including higher defence spending and increased government procurement. Order inflows for FY26 year-to-date have already exceeded Rs 700 crore, more than the total for FY20-23 combined. They project revenue to grow at 27% CAGR over FY26-28, with EBITDA and net profit growing 40% and 54% respectively, supported by a shift towards higher-margin defence products.

5. SRF:

Sharekhan maintains its 'Buy' rating on this chemicals company, with a target price of Rs 3,540, an upside of 20.7%. Management anticipates a 20% growth in the chemical business in FY26. The specialty chemicals segment is likely to perform strongly, supported by new product launches and active ingredients.

Analysts note that India is now implementing the Kigali agreement, which requires countries to reduce their use of hydrofluorocarbons (HFCs). As India’s reliance on HFCs decreases, demand is shifting toward newer, cleaner alternatives like hydrofluoroolefins (HFOs). The company is well-positioned to benefit from this transition and is also expanding its production capacity for HFO refrigerant gas.

The brokerage highlights that Asia, including India, will remain the largest market for refrigerant gases. SRF’s backward integration, brand strength, and strong distribution network provide a competitive edge. Sharekhan expects the business to grow at a 20% CAGR, with EBITDA and net profit rising 32% and 51% over FY26-27.

Note: These recommendations are from various analysts and are not recommendations by Trendlyne.

(You can find all analyst picks here)

 
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Trendlyne Marketwatch
09 Sep 2025
Market closes higher, Waaree Renewable bags a Rs 1,252 crore solar project
By Trendlyne Analysis

Nifty 50 closed at 24,868.60 (95.5, 0.4%), BSE Sensex closed at 81,101.32 (314.0, 0.4%) while the broader Nifty 500 closed at 22,949.10 (70.5, 0.3%). Market breadth is in the red. Of the 2,544 stocks traded today, 1,148 were in the positive territory and 1,344 were negative.

Indian indices closed higher after extending gains in the afternoon session. The Indian volatility index, Nifty VIX, fell 1.4% and closed at 10.7 points. RailTel Corp of India closed 5.4% higher after securing orders worth over Rs 714 crore from the Bihar Education Project Council to set up digital classrooms and labs.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher. BSE IT and Nifty IT were among the top index gainers today. According to Trendlyne’s sector dashboard, Software & Services emerged as the best-performing sector of the day, with a rise of 2%.

Asian indices closed mixed. European indices are trading mixed. US index futures are trading higher, indicating a positive start to the trading session. Investors await the release of today’s preliminary nonfarm payrolls report and key inflation data later this week. Brent crude futures are trading higher after rising 0.3% on Monday.

  • Money flow index (MFI) indicates that stocks like Eicher Motors, Syrma SGS Technology, Maruti Suzuki, and Netweb Technologies are in the overbought zone.

  • Sumitomo Mitsui Banking Corp (SMBC) reportedly plans to offload its entire 1.7% stake in Kotak Mahindra Bank in a block deal worth over Rs 6,000 crore. The sale is aimed at funding SMBC’s acquisition of Yes Bank.

  • Brigade Enterprises signs a joint development agreement for a luxury residential project in East Bengaluru, with an estimated gross development value of Rs 2,500 crore. The project spans 10.8 acres and offers a total saleable area of 2.5 million square feet.

  • Bikaji Foods is falling as the Enforcement Directorate (ED) summons its Managing Director in-person for an investigation under the Prevention of Money Laundering Act, 2002.

  • Jefferies maintains a 'Buy' rating on Navin Fluorine International with a target price of Rs 6,025. The brokerage notes that the company has started delivering three new specialty chemicals and a new molecule in its CDMO division. The price of R-32 refrigerant gas remains strong, driven by high demand from the US and limited exports from China.

  • Godrej Consumer Products is rising as its subsidiary plans to invest Rs 250 crore over 18-36 months to set up a new plant in Indonesia, expanding capacity by 15%.

  • Glenmark Pharma rises after its subsidiary, Ichnos Glenmark Innovation (IGI), receives a $700 million (approx. Rs 6,167 crore) upfront payment from AbbVie. The payment is part of a global licensing deal giving AbbVie exclusive rights to IGI’s investigational asset, ISB 2001, used to treat blood cancer, in key markets such as North America, Europe, and Japan.

  • Waaree Renewable Technologies is rising as it secures an order worth Rs 1,252.4 crore from Waaree Forever Energies (WFEPL). The order involves the development of a large-scale 1,218 MW solar power project, including a substation, transmission line, and providing two years of operation and maintenance.

  • Mohammed Imran of Sharekhan notes that oil prices are down 4% in September, after an 8% drop in August and 11% YTD. Volatility persists due to a supply glut and Middle East tensions, even with prices peaking at $75/barrel. With eight OPEC members set to increase output, WTI prices may fall further, possibly averaging $57–58 by year-end, provided US producers maintain their current output levels.

  • Vadilal Industries is rising as its board appoints Himanshu Kanwar as the new Chief Executive Officer (CEO) for five years, effective September 29.

  • Alembic Pharmaceuticals receives final approval from the US FDA for its Phytonadione injectable emulsion, used to treat hypoprothrombinemia, which is secondary to vitamin K deficiency. According to IQVIA, the drug had a market size of $44 million for the 12 months ending June 2025.

  • Gopal Snacks gains over 2% after signing long-term agreements for third-party manufacturing facilities in Hiryur (Karnataka) and Kashipur (Uttarakhand), with capacities of 4,400 and 5,900 metric tonnes per annum (MTPA), respectively. The move aims to strengthen its distribution network in southern and northern India.

  • Sanjay Shah, CMD of Prudent Corporate Advisory Services, highlights the company's plan to acquire Indus Capital’s mutual fund distribution business through a slump sale. The deal includes an upfront payment of Rs 113.8 crore and an additional Rs 10 crore as special consideration. He expects 18–20% revenue growth in the coming years and sees the specialised investment funds segment as a major growth driver next year.

  • String Metaverse falls to its 5% lower limit as its Chief Executive Officer (CEO), Sai Santosh Althuru, tenders his resignation, effective September 8. The board appoints Raghavendra Hunasgi as the new CEO.

  • Housing & Urban Development Corp (HUDCO) signs a memorandum of understanding (MoU) with Nagpur Metropolitan Region Development Authority to provide funding up to Rs 11,300 crore for metro, housing, and infrastructure projects. The agreement also includes consultancy services and capacity-building support over the next five years.

  • HDFC Bank reportedly cuts its marginal cost of lending rate (MCLR) by up to 5 bps on select tenures, effective September 8. The six-month and one-year MCLR now stand at 8.65%, while the two-year rate is revised to 8.7%.

  • CLSA maintains an 'Outperform' rating on Ambuja Cements with a target price of Rs 665. The brokerage views the proposed GST cut on cement as a key driver of demand and profitability. It says Ambuja's scale, strategy, and premium focus position it well to benefit, with the cut likely to drive both volumes and margins.

  • Amanta Healthcare's shares debut on the bourses at a 7.1% premium to the issue price of Rs 126. The Rs 126 crore IPO received bids for 82.6 times the total shares on offer.

  • Morepen Laboratories surges as its subsidiary forms a 50:50 joint venture (JV) with UAE-based Bimedical FZE to manufacture, trade, and sell medical devices.

  • RailTel Corp of India rises sharply as it secures orders worth over Rs 714 crore from the Bihar Education Project Council. The projects include setting up information & communication technology (ICT) and integrated science & mathematics (ISM) labs, smart classrooms, and supplying teaching materials. The execution is slated between December 2025 and March 2026.

  • Morgan Stanley initiates coverage on Aditya Birla Lifestyle Brands with an 'Overweight' rating and a target price of Rs 175. The brokerage views the company as a "defensive discretionary play" with strong lifestyle brands, including Louis Philippe, Van Heusen, and Reebok. Post its June listing after ABFRL's demerger, it trades at 13x FY27 EV/EBITDA, with scope for multiple expansion on consistent execution.

  • IRB Infrastructure Developers is rising as its total toll collection rises 12.1% YoY to Rs 563.2 crore in August.

  • Voltamp Transformers falls as around 8.1 lakh shares (8% stake) worth approximately Rs 618 crore reportedly change hands in a block deal at an average price of Rs 7,611 per share. Promoter Kunjal Patel is likely the seller in the transaction.

  • Alpex Solar is rising as it secures an order worth Rs 345 crore from a leading industry player to supply solar modules.

  • Infosys' board of directors schedules a meeting on September 11 to consider a proposal for a buyback of equity shares.

  • Nifty 50 was trading at 24,854.20 (81.1, 0.3%), BSE Sensex was trading at 81,129.69 (342.4, 0.4%) while the broader Nifty 500 was trading at 22,924.20 (45.6, 0.2%).

  • Market breadth is in the green. Of the 2,072 stocks traded today, 1,184 were in the positive territory and 818 were negative.

Riding High:

Largecap and midcap gainers today include Gujarat Fluorochemicals Ltd. (3,638.30, 8.0%), Infosys Ltd. (1,504.30, 5.0%) and JSW Infrastructure Ltd. (313.25, 4.0%).

Downers:

Largecap and midcap losers today include FSN E-Commerce Ventures Ltd. (241.49, -2.3%), UNO Minda Ltd. (1,283.90, -2.0%) and Berger Paints (India) Ltd. (529.35, -1.9%).

Crowd Puller Stocks

15 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Gujarat Fluorochemicals Ltd. (3,638.30, 8.0%), Action Construction Equipment Ltd. (1,143.40, 7.8%) and Affle 3I Ltd. (2,070.20, 6.6%).

Top high volume loser on BSE was Ratnamani Metals & Tubes Ltd. (2,369, -0.2%).

Asahi India Glass Ltd. (875.70, 5.0%) was trading at 9.0 times of weekly average. Intellect Design Arena Ltd. (959.80, 6.4%) and Engineers India Ltd. (205.70, 2.4%) were trading with volumes 8.4 and 7.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

12 stocks overperformed with 52 week highs, while 2 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Cummins India Ltd. (4,012, 1.1%), Eicher Motors Ltd. (6,893.50, 1.2%) and Mahindra & Mahindra Ltd. (3,696.30, -0.1%).

Stocks making new 52 weeks lows included - Deepak Nitrite Ltd. (1,740, -0.3%) and Praj Industries Ltd. (389.60, -1.8%).

21 stocks climbed above their 200 day SMA including Intellect Design Arena Ltd. (959.80, 6.4%) and Sagility India Ltd. (43.54, 3.6%). 11 stocks slipped below their 200 SMA including Balrampur Chini Mills Ltd. (519.60, -3.1%) and Bharat Forge Ltd. (1,181.70, -1.8%).

 
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Trendlyne Marketwatch
08 Sep 2025
Market closes higher, Ujjivan SFB plans to raise around Rs 2,000 crore via a QIP
By Trendlyne Analysis

Nifty 50 closed at 24,773.15 (32.2, 0.1%) , BSE Sensex closed at 80,787.30 (76.5, 0.1%) while the broader Nifty 500 closed at 22,878.65 (49.5, 0.2%). Market breadth is in the green. Of the 2,576 stocks traded today, 1,376 were on the uptrend, and 1,142 went down.

Indian indices closed in the green after extending gains in the morning session. The Indian volatility index, Nifty VIX, rose around 0.6% and closed at 10.8 points. Bharat Heavy Electricals closed over 2% as it signed a ten-year agreement with Singapore's Horizon Fuel Cell Technologies to develop a hydrogen fuel cell-powered railway locomotive for the Indian market.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher. Nifty Capital Markets and Nifty Metal closed in the green. According to Trendlyne’s Sector dashboard, Automobiles & Auto Components emerged as the best-performing sector of the day, with a rise of 2.7%.

European indices are trading higher, except for Switzerland’s SMI index. Major Asian indices closed mixed. US index futures are trading in the green, indicating a positive start to the session, as investors await key inflation data later this week. Brent crude futures are trading higher after the OPEC+ agreed to a modest production increase of 137,000 barrels per day for October, and amid concerns of more sanctions on Russian crude.

  • Relative strength index (RSI) indicates that stocks like TVS Motor, Netweb Technologies, Hero MotoCorp and HBL Power Systems are in the overbought zone.

  • Lupin receives two observations from the US FDA following a product-specific Pre-Approval Inspection (PAI) at its manufacturing facility in Aurangabad.

  • Max Estates is rising as it acquires a 100% stake in Base Buildwell for Rs 534 crore to secure development rights for a 7.3-acre land parcel in Gurugram. The project has a development potential of about 1.3 million square feet with a gross development value (GDV) of over Rs 3,000 crore.

  • Jeena Sikho Lifecare surges to its all-time high of Rs 819.6 as it receives approvals to conduct clinical trials on products targeting diabetes, hypertension, constipation, and gastrointestinal health. The pre-clinical trials have shown encouraging results so far, with no adverse events reported.

  • Swiggy rises as Nomura initiates coverage on the company with a 'Buy' rating and a target price of Rs 550. The brokerage believes Swiggy’s food delivery business is on a stable path to profitability and will continue to be a key cash generator. It notes that, although the quick commerce segment remains in a challenger position, its profitability is also expected to improve.

  • Aegis Logistics is rising as it plans to invest around Rs 100 crore to expand its capacity by 61,000 kilolitres (KL) at Pirpau, Mumbai Port.

  • Godfrey Phillips is falling after reports suggest that the government may impose a new levy on tobacco products once the GST compensation cess ends. The measures under consideration include a higher excise duty or a health levy, sparking concerns of added costs in Q4FY26.

  • Bharat Heavy Electricals is rising as it signs a ten-year agreement with Singapore-based Horizon Fuel Cell Technologies to enter the green mobility and clean energy sector. It plans to develop a hydrogen fuel cell-powered railway locomotive for the Indian market.

  • Mankind Pharma receives approval from the Central Drugs Standard Control Organisation (CDSCO) to begin Phase 1 clinical trials for MKP11093, a novel oral Janus kinase-1 (JAK-1) inhibitor. The molecule targets multiple autoimmune disorders, including rheumatoid arthritis, ulcerative colitis, plaque psoriasis, and alopecia.

  • Ujjivan Small Finance Bank rises sharply as it reportedly plans to raise around Rs 2,000 crore via a QIP (qualified institutional placement) over the next 18–24 months to support its long-term growth strategy.

  • Diamond Power Infrastructure is rising as it receives a letter of intent (LoI) worth Rs 184.7 crore from Adani Energy Solutions to supply 4,215 km of AL-59 Zebra Conductor for the Khavda Project.

  • Ceigall India is rising as it receives two letters of intent (LoI) from Maharashtra State Electricity Distribution (MSEDCL) for the procurement of 147 MW and 190 MW solar power capacity under the Mukhyamantri Saur Krushi Vahini Yojana (MSKVY) 2.0.

  • Jindal Steel Chairman Naveen Jindal believes GST cuts on autos and cement could boost steel demand. He says the industry had sought a 25% safeguard duty, but is comfortable with the DGTR’s recommended three-year duty starting at 12%. Jindal also adds that the industry is seeking measures to ensure sufficient availability of iron ore at affordable prices.

  • Vedanta falls as it reportedly emerges as the highest bidder for debt-ridden Jaiprakash Associates with a net present value (NPV) offer of Rs 12,505 crore. Nuvama calls this move a negative for minority investors, questioning the deal’s logic and noting funding pressures as Vedanta tries to reduce debt.

  • SpiceJet falls sharply as it posts a net loss of Rs 233.9 crore in Q1FY26 compared to a net profit of Rs 158.3 crore in Q1FY25. Revenue falls 42.2% YoY to Rs 1,201 crore due to lower cargo volumes and delays in returning grounded planes to service. The company features in a screener of stocks with the highest fall from their 52-week highs.

  • HFCL is rising as it secures an export order worth $40.7 million (around Rs 358.4 crore) from an overseas customer to supply various types of optical fibre cables.

  • According to the Federation of Automobile Dealers Associations (FADA), India’s auto sales were muted in August as buyers waited for clarity on new GST rates for cars and two-wheelers. Vehicle retail sales rose 2.8% YoY to 19.6 lakh units. FADA President CS Vigneshwar says heavy rains, floods, uneven supply of popular models, and aggressive OEM targets have impacted sales. However, dealers expect a sharper rebound in September with GST clarity and festive demand.

  • Vikram Solar surges as it secures an order from L&T Construction to supply 336 MW high-efficiency solar modules for a project in Khavda, Gujarat.

  • Adani Power rises sharply as it signs an agreement with Bhutan’s Druk Green Power Corp (DGPC) to set up a 570 MW hydroelectric project at Wangchhu, Bhutan. The new entity will be 51% owned by DGPC, with Adani Power holding the remaining 49%.

  • Aurobindo Pharma receives Form 483 with eight procedural observations from the US FDA. The inspection covered its Unit-XII facility in Bachupally, Telangana, which produces both oral solids and injectable products.

  • Jefferies maintains a 'Buy' rating on TBO Tek with a higher target price of Rs 1,800. The brokerage highlights the company's $125 million acquisition of US-based Classic Vacations as part of its roll-up merger strategy, combining smaller firms into a larger entity. It believes the deal will enhance TBO Tek's presence in the premium outbound market, particularly in North America.

  • Hero MotoCorp is rising as its board of directors appoints Harshavardhan Chitale as the new Chief Executive Officer (CEO), effective January 5.

  • SPML Infra's joint venture secures an order worth Rs 1,438 crore from the Public Health Engineering Department (PHED), Rajasthan, to improve regional water supply infrastructure. The project includes construction and 10 years of operations and maintenance.

  • Time Technoplast is rising as it signs a memorandum of understanding (MoU) with the promoters of Ebullient Packaging to acquire a 74% stake at an estimated enterprise value of about Rs 200 crore. The acquisition expands its presence in the packaging business and strengthens its overall portfolio.

  • Dr. Reddy's Laboratories receives a Form 483 with seven observations from the US FDA following an inspection at its API facility in Mirfield, West Yorkshire, UK.

  • Nifty 50 was trading at 24,787.65 (46.7, 0.2%), BSE Sensex was trading at 80,904.40 (193.6, 0.2%) while the broader Nifty 500 was trading at 22,864 (34.9, 0.2%).

  • Market breadth is ticking up strongly. Of the 2,128 stocks traded today, 1,452 showed gains, and 610 showed losses.

Riding High:

Largecap and midcap gainers today include Bharat Forge Ltd. (1,202.80, 5.8%), Ashok Leyland Ltd. (137.29, 5.0%) and Samvardhana Motherson International Ltd. (98.57, 4.2%).

Downers:

Largecap and midcap losers today include Trent Ltd. (5,315.50, -3.9%), Coromandel International Ltd. (2,185.20, -3.2%) and Supreme Industries Ltd. (4,462, -2.5%).

Movers and Shakers

15 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Cohance Lifesciences Ltd. (1,012.95, 9.8%), TVS Holdings Ltd. (12,929, 6.2%) and Bharat Forge Ltd. (1,202.80, 5.8%).

Top high volume losers on BSE were G R Infraprojects Ltd. (1,261, -2.3%) and Rainbow Childrens Medicare Ltd. (1,480, -2.0%).

Supreme Petrochem Ltd. (787.70, 1.0%) was trading at 18.3 times of weekly average. Jubilant Pharmova Ltd. (1,090, 1.8%) and Adani Power Ltd. (633.85, 4.0%) were trading with volumes 8.5 and 6.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

19 stocks made 52 week highs, while 1 stock hit their 52 week lows.

Stocks touching their year highs included - Ashok Leyland Ltd. (137.29, 5.0%), Cummins India Ltd. (3,966.60, 0.8%) and Eicher Motors Ltd. (6,815, 3.6%).

Stock making new 52 weeks lows included - Deepak Nitrite Ltd. (1,745.30, -0.2%).

21 stocks climbed above their 200 day SMA including Bharat Forge Ltd. (1,202.80, 5.8%) and Samvardhana Motherson International Ltd. (98.57, 4.2%). 18 stocks slipped below their 200 SMA including Vedanta Ltd. (434.40, -2.5%) and Balrampur Chini Mills Ltd. (536.15, -2.4%).

 
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The Baseline
05 Sep 2025
Five Interesting Stocks Today - September 5, 2025
By Trendlyne Analysis

1. Blue Star:

A major government tax reform has provided a significant boost to this consumer electronics company, sending its stock up 3.4% in the last week. The Indian government’s GST overhaul slashed the tax on electronics like air conditioners from a steep 28% down to 18%.

Fueled by this news, the company’s managing director, B. Thiagarajan, has doubled the sales growth forecast for the upcoming festive season to 30%. He confirmed that the full benefit of the tax cut will be passed on to customers, predicting that the entire industry could see 20% growth in the next financial year thanks to the lower prices.

This positive outlook comes despite a recent speed bump. Unexpected early rains led to a 28.4% YoY drop in the company's Q1FY26 net profit, as sales in its cooling products segment fell by 13% compared to the previous year. However, the company’s overall business is still growing. Total revenue climbed 3.8% YoY, beating Forecaster estimates by 5.5%, thanks to strong performance in its commercial refrigeration and engineering project divisions. The stock features in a screener of companies which have given consistent returns over the past five years.

Drilling down into its operations, the company's commercial projects division is sitting on a robust order book worth Rs 5,080 crore, with strong demand from data centers and the healthcare sector. On the other hand, its room air conditioner business faced challenges from the unusual weather. With a current market share of 14%, the company aims to increase this to 15% in the coming years.

Looking ahead, brokerage firm Sharekhan is optimistic. It believes the company is positioned to benefit from growing demand for air conditioners in India and has opportunities to export to the US and Europe. The firm highlights huge long-term potential, noting that AC ownership in India is still very low compared to the global average. With rising incomes and increasing urbanization, Sharekhan has maintained its ‘Buy’ rating on the stock, setting a target price of Rs 2,000.

2. Netweb Technologies India:

This cloud infrastructure company surged over 37% last week, hitting an all-time high of Rs 3,182.5 on August 5. The rise was fueled by a Rs 1,734 crore order to supply servers built on Nvidia's Blackwell architecture (AI-focused chips). As part of the contract, Netweb Tech will deploy an AI infrastructure facility using the latest GPU-accelerated platforms. This landmark deal, awarded under the IndiaAI Mission, excites analysts as India steps onto the global AI stage, currently dominated by the US and China. 

The order size represents around 102% of the company’s estimated sales for the current financial year and 72% for the next. Trendlyne’s Forecaster estimates Netweb’s profit to rise 48% in FY26, with revenue growth of 46.5% to Rs 1,683 crore. Also, it's worth noting that the promoters hold a substantial 71% stake in the company.

The company’s latest results showed revenue and net profit nearly doubling YoY in Q1 FY26. The AI segment contributed 29% of revenue with a 300% YoY growth. CEO Sanjay Lodha said, “AI’s share will continue growing at the same pace of 40% CAGR as before. We are raising the AI contribution guidance from 20% to 22% for FY26.”

While Netweb shows growth potential, its valuation is a point of discussion. The stock currently trades at an expensive PE of 115, giving it a low valuation score of 24. However, it's not all red flags – the current PE is still below its average and median, placing it in a neutral zone.

Ventura has given a ‘Buy’ rating for Netweb, citing optimism about its total order book of Rs 4,142 crore. The brokerage notes that AI investments and private cloud adoption are driving computing demand in India, while the company also plans to expand in Europe and the Middle East. They expect Netweb’s revenue and net profit to grow at a CAGR of 36% and 64% over FY25-28.

3. Ashok Leyland:

Thisvehicle manufacturer rose 2.7% over two trading sessions after the companyunveiled on September 1 a Rs 5,000 crore investment plan to develop battery manufacturing in India over the next decade. As a first step, the company will invest Rs 300-600 crore into a new lithium iron phosphate (LFP) battery pack facility within the next three years.

To power this ambitious supply, Ashok Leyland hasentered into a long-term partnership with the Chinese battery firm CALB Group. This collaboration will focus on technology sharing and joint research, with core goals of reducing vehicle manufacturing costs and lowering India’s dependence on imported battery components.

"The new battery business shall first focus on the automotive sector, and then move to non-automotive areas, including energy storage systems,”said Shenu Agarwal, the company’s MD and CEO. The new manufacturing capacity is set to be a key supplier for its own electric vehicle arm, Switch Mobility, while also serving other vehicle manufacturers in the market.

Following the announcement, Nomuramaintained its Buy rating but cautioned that the battery business will face initial margin pressure. The brokerage noted that profits will likely be thin at first, but will improve as production scales up significantly. With operations scheduled to begin in the first half of FY27, any delays in the timeline could impact cash flow and returns.

This strategic pivot comes at a time of strong performance for the company. InQ1FY26, the company’s revenue grew 9.2% YoY to 11,708.5 crore, driven by higher sales in its core commercial vehicles segment. Meanwhile, management isconfident its EV division will break even within the next year, fueled by a strong order book and soaring demand. Switch Mobility currently holds a market share of approximately 41% in India’s e-bus market.

In a separate but significant boost, the GST Council recently slashed the tax on commercial vehicles from 28% to 18%. Ashok Leyland’s CFO, KM Balaji,explained that previously, a tax disparity encouraged customers to buy a vehicle chassis and have the body built separately to save money. The new, unified 18% rate removes this incentive, simplifying the buying process and likely increasing demand for Ashok Leyland's fully-built vehicles.

4. Kaynes Technology India:

Thiselectronic component manufacturer jumped 8% on September 1 after its subsidiary, Kaynes Semicon, announced apartnership with technology services firm UST. The tie-up will fast-track Kaynes’ semiconductor packaging facility in Sanand, with UST providing equipment, technical know-how, and customer connections. Management sees a revenue potential of Rs 1,500 crore from this venture by FY28.

Revenue mix has shifted towards innovative, design-led, and high-margin businesses. In the first quarter of FY26, printed circuit board (PCB) assembly accounted for 45% of sales, while system-level integration (box-build) fell to 19%. Meanwhile, contributions from original design manufacturing (ODM) and product engineering skyrocketed to 36%, a huge leap from just 2% a year ago.

This pivot lifted the EBITDA margin to 16.8%, up 350 basis points YoY, and powered a 47% jump in net profit, beatingexpectations. CFO Jairam Sampath said, “For the remaining nine months, you can expect an EBITDA margin similar to the first quarter.” Revenue grew 34% YoY in Q1 but missed estimates slightly, as demand in the box-build segment softened.

New orders worth Rs 1,480 crore in Q1 lifted the backlog to Rs 7,400 crore, nearly 2.7 times FY25 sales, providing visibility for future growth. The industrial sector has been a key driver, with orders soaring by over 40% YoY and now accounts for more than half of total revenue. Chairman Ramesh Kannansaid, “We are seeing strong traction in aerospace, industrials, and railways, which will continue to grow through FY26, giving us confidence that the order book will only strengthen from here.”

Macquarieinitiated coverage on the stock with an ‘Outperform’ rating and a target price of Rs 7,700. The brokerage is bullish on Kaynes’ pivot to high-value electronics manufacturing, its strategy of bringing more production in-house, and plans for global expansion. It argues that while the stock trades at rich valuations, they are supported by the trillion-dollar opportunity in India’s Electronics System Design & Manufacturing industry.

5. TBO Tek:

This travel support services firm saw its stock soar over 15% on September 3 following the acquisition of US-based Classic Vacations for approximately $125 million (Rs 1,100 crore). TBO Tek also features in a screener of stocks where mutual funds have increased their holdings over the past two months.

At its core, TBO Tek runs a digital marketplace for the travel industry, handling bookings for everything from flights and hotels to cruises and rail. Classic Vacations, on the other hand, is a specialist in premium luxury travel with a network of over 10,000 travel advisors. With this acquisition, TBO Tek gains direct access to this advisor network, enabling it to sell its high-end travel offerings and expand its presence in the North American market.

During Q1FY26, the company's revenue grew by a healthy 22% compared to last year, reaching Rs 511 crore, thanks to a boom in its hotels and packages segment. The hotels division alone grew by 32%, fueled by global expansion and the ramp-up of JumboOnline, a European company TBO acquired in December 2023. However, the air ticketing business faced significant headwinds, hit by disruptions like the Pahalgam incident, the India-Pakistan border clash, and the Air India crash in mid-June.

Looking to the future, TBO Tek believes it is in a prime position to ride the wave of a booming global travel market. Joint Managing Director Gaurav Bhatnagar stated, "The travel industry is expected to grow at an 8.2% CAGR, reaching nearly $2.6 trillion by 2027." He also highlighted a new trend: strong interest in niche travel, such as study abroad programs, luxury getaways, and cruises, particularly among customers in India's Tier 2 and 3 cities.

While the company's heavy investment in international expansion has temporarily squeezed its margins, which fell by 440 bps in Q1, analysts are optimistic. Brokerage firm Anand Rathi believes that as this spending phase concludes, TBO Tek is on track for revenue growth of 22-23% annually for the next few years, with margins expected to steadily improve from 2027. Reflecting this confidence, it has a 'Buy' stance with a higher target price of Rs 1,725.

Trendlyne's analysts identify stocks that are seeing interesting price movements, analyst calls, or new developments. These are not buy recommendations

 
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Trendlyne Marketwatch
05 Sep 2025
Market closes flat, Softbank Group sells a 2.2% stake in Ola Electric through the open market
By Trendlyne Analysis

Nifty 50 closed at 24,741 (6.7, 0.0%), BSE Sensex closed at 80,710.76 (-7.3, 0.0%) while the broader Nifty 500 closed at 22,829.15 (9.5, 0.0%). Market breadth is horizontal. Of the 2,544 stocks traded today, 1,287 were on the uptrend, and 1,207 went down.

Indian indices closed flat, unable to sustain GST cut gains due to broad profit booking and ongoing trade tensions. The Indian volatility index, Nifty VIX, declined 1.2% and closed at 10.7 points. Indus Towers closed 4% higher as its promoter Bharti Airtel acquired over 68.7 lakh shares, increasing its stake by around 0.3%. Bharti Airtel held a 50% stake in Indus Towers as of June 30.

Nifty Midcap 100 & Nifty Smallcap 100 closed flat, following the benchmark index. BSE Auto and Nifty Auto were among the top index gainers today. According to Trendlyne’s Sector dashboard, Forest Materials emerged as the best-performing sector of the day, with a rise of 1.2%.

Asian indices closed in the green, while European indices are trading higher. US index futures traded higher as signs of a cooling labor market strengthened expectations of a Fed rate cut this month, lifting market sentiment. Meanwhile, Brent crude prices are trading in the red as the market awaits a decision from OPEC+ meeting this weekend on a possible oil production hike.

  • Money flow index (MFI) indicates that stocks like Syrma SGS Technology, Maruti Suzuki, HBL Power Systems, and Netweb Technologies are in the overbought zone.

  • Glenmark Pharmaceuticals rises sharply as it begins a multi-country Phase 3 trial of Envafolimab for Stage III lung cancer. The study will assess efficacy, safety, how the body processes the drug, and the immune response to the drug. Patient enrollment starts in India after approval from the Drugs Controller General of India, with trial applications underway in Russia, Brazil, and Mexico.

  • Sharekhan retains its 'Buy' call on Triveni Turbine, with a target price of Rs 700 per share. This indicates a potential upside of 36.6%. The brokerage believes the company is well-positioned for growth, driven by its focus on renewable energy, waste-to-heat recovery, a robust order book, and margin tailwinds. It expects the firm's revenue to grow at a CAGR of 20.3% over FY26-27.

  • Indus Towers rises sharply as promoter Bharti Airtel acquires over 68.7 lakh shares, increasing its stake by around 0.3%. Bharti Airtel held a 50% stake in Indus Towers as of June 30.

  • Brent crude futures trade lower after data from the US Energy Information Administration (EIA) indicated a rise in crude inventories for the week ending August 29. US commercial crude stocks increased by 2.4 million barrels to 420.7 million, around 4% below the five-year seasonal average.

  • Bluestone Jewellery & Lifestyle surges to its all-time high of Rs 629.6 per share as its Q1FY26 net loss contracts 41.7% YoY to Rs 34.5 crore. Revenue grows 40.5% YoY to Rs 504.7 crore, driven by new store additions during the quarter. It features in a screener of stocks with reducing debt.

  • Aarti Drugs expands its operations with a new manufacturing plant at Sayakha, Gujarat. The facility adds 60 metric tonnes per day of capacity for products such as dimethylamine, monomethylamine, and trimethylamine. This expansion supports backward integration to reduce reliance on external raw materials and improve supply chain reliability.

  • Gujarat Mineral Development Corp surges to its all-time high of Rs 512.1 after the Union Cabinet approves a Rs 1,500 crore incentive scheme to boost recycling capacity for critical minerals. GMDC’s lignite business, linked to mineral extraction, contributes around 85–90% of its operating income.

  • Ravi Kant Jaipuria, Chairman of Varun Beverages, highlights the GST hike on aerated drinks from 28% to 40%. He notes that the rate cuts on water and juices will benefit the company, as these categories make up 30% of its volumes. He adds that the company will pass down the benefit to consumers and confirms there are no tax changes for carbonated drinks.

  • NTPC is falling as it permanently discontinues operations at its Tanda Thermal Power Station, Stage-I, consisting of 4x100 MW units. The move comes after receiving approval from the Central Electricity Authority (CEA).

  • Yasho Industries signs a 15-year agreement with a global multinational corporation to supply lubricant additives. The deal is expected to generate about Rs 150 crore in annual revenue from the end of FY27.

  • PNC Infratech is rising as it emerges as the preferred bidder for an order worth Rs 495.5 crore from the Bihar State Road Development Corp (BSRDC) to construct a high level bridge and approach road in the state.

  • Fintech major PhonePe is reportedly planning to file for a confidential IPO by the end of September, with an issue size of around $1.5 billion (Rs 12,750 crore). The company targets a valuation of $10–15 billion (Rs 85,000–1,27,500 crore). While the IPO may offer partial liquidity to some investors, its promoter, Walmart, which holds over 70% stake, is unlikely to sell a significant portion.

  • Dreamfolks Services loses its extended lounge access contract from Travel Food Services, effective September 15. The development comes after Adani Digital, Semolina Kitchen and Encalm Hospitality indicated plans to discontinue certain services in August.

  • ICICI Securities maintains its 'Buy' call on Maruti Suzuki, with a higher target price of Rs 17,000 per share. This indicates a potential upside of 14.4%. The brokerage believes that the car manufacturer's sales will improve, driven by the reduction in GST rates, rationalisation of personal income tax slabs, interest rate cuts and the upcoming Pay Commission revisions. It expects the company's revenue to grow at a CAGR of 14% over FY26-28.

  • Ola Electric Mobility is falling sharply as Softbank Group sells a 2.2% stake (or 9.5 crore shares) in the company through the open market. This sale takes Softbank Group's holding in Ola Electric to 15.7% from 17.8%.

  • Jefferies initiates coverage on Hexaware Technologies with a 'Buy' rating and a target price of Rs 930. The brokerage forecasts that Hexaware will deliver a 10% CAGR in constant currency revenue and a 15% CAGR in EPS over CY25–27. It sees Hexaware combining the growth potential of a mid-sized IT firm with the quality metrics of larger peers.

  • Prime Focus surges to its 10% upper limit as 1 crore shares (1% stake), worth Rs 146.2 crore, reportedly change hands in a block deal at an average price of Rs 142.6 per share.

  • NHPC rises as the Ministry of Power appoints Bhupender Gupta as its Chairman and Managing Director (MD) for the next five years, effective September 4.

  • Power Grid Corp of India is rising as it emerges as the successful bidder to set up an inter-state transmission system for power transmission from pumped storage projects in Uttar Pradesh. The company will build a new 765/400kV pooling sub-station and bay extensions, along with a new 765kV transmission line.

  • Nomura expects the GST cuts to reduce auto prices by 3.5–10% across segments—tractors by 6%, CVs and two-wheelers under 350cc by 8%, and SUVs and cars by 3.5–6.5%. The brokerage believes this will likely boost demand, improve operating margins, and spark an upgrade cycle. Mahindra & Mahindra, Hyundai Motor India, TVS Motor, Ashok Leyland, and Motherson Sumi are seen as key beneficiaries.

  • Zota Healthcare is rising as its board of directors approves raising Rs 500 crore by issuing equity shares or other securities through a qualified institutional placement (QIP).

  • Bharat Forge is rising as its step-down subsidiary, Agneyastra Energetics, acquires 949.7 acres of land in Andhra Pradesh to set up a defence manufacturing complex for explosives, ammunition, propellants, and future rocket and missile systems.

  • JB Chemicals & Pharmaceuticals receives an open offer from Torrent Pharmaceuticals to acquire a 26% stake (or 4.2 crore shares) worth Rs 6,842.8 crore in the company for Rs 1,639.2 per share.

  • Biocon is falling as it receives Form 483 with five observations from the US FDA following an inspection at its drug substance facility in Bengaluru.

  • Nifty 50 was trading at 24,827.50 (93.2, 0.4%), BSE Sensex was trading at 81,012.42 (294.4, 0.4%) while the broader Nifty 500 was trading at 22,901.50 (81.9, 0.4%).

  • Market breadth is in the green. Of the 1,999 stocks traded today, 1,237 showed gains, and 709 showed losses.

Riding High:

Largecap and midcap gainers today include Indus Towers Ltd. (337.40, 4.1%), Swiggy Ltd. (439.05, 3.8%) and Hyundai Motor India Ltd. (2,541.70, 2.5%).

Downers:

Largecap and midcap losers today include Varun Beverages Ltd. (469.65, -4.1%), Persistent Systems Ltd. (5,132, -3.1%) and Abbott India Ltd. (31,220, -3.0%).

Volume Shockers

7 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Brainbees Solutions Ltd. (401.10, 13.9%), Gujarat Mineral Development Corporation Ltd. (509, 11.8%) and Varroc Engineering Ltd. (602.10, 7.3%).

Top high volume loser on BSE was Abbott India Ltd. (31,220, -3.0%).

SKF India Ltd. (4,878.10, 6.1%) was trading at 23.1 times of weekly average. MMTC Ltd. (64.70, 2.1%) and PVR INOX Ltd. (1,146.30, 1.4%) were trading with volumes 4.0 and 3.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

12 stocks overperformed with 52 week highs,

Stocks touching their year highs included - Cummins India Ltd. (3,922, -0.4%), L&T Finance Ltd. (230.51, 1.2%) and Mahindra & Mahindra Ltd. (3,561.30, 2.3%).

20 stocks climbed above their 200 day SMA including Mahindra & Mahindra Financial Services Ltd. (269.30, 2.4%) and Vedanta Ltd. (445.50, 2.3%). 23 stocks slipped below their 200 SMA including Firstsource Solutions Ltd. (349.90, -3.2%) and Sobha Ltd. (1,407.60, -2.9%).