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Trendlyne Marketwatch
19 Nov 2025
Market closes higher, supported by gains in IT, Healthcare, and Banking sectors
By Trendlyne Analysis

Nifty 50 closed at 26,052.65 (142.6, 0.6%), BSE Sensex closed at 85,186.47 (513.5, 0.6%), while the broader Nifty 500 closed at 23,906.30 (81.7, 0.3%). Market breadth is in the red. Of the 2,593 stocks traded today, 1,017 were in the positive territory and 1,530 were negative.

Indian indices closed in the green after extending gains in the morning session. The Indian volatility index, Nifty VIX, declined 0.8% and closed at 12 points. Infosys closed 3.7% higher as its board of directors approved a buyback of 10 crore shares for Rs 18,000 crore at Rs 1,800 each.

Nifty Midcap 100 closed in the green, while Nifty Smallcap 100 closed in the red. Nifty IT and BSE IT Sector 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 2.6%.

Asian indices closed mixed, while European indices are trading higher except France’s CAC 40 index. US index futures traded higher, indicating a positive start to the trading session. US tech stocks stayed under pressure on Tuesday amid worries about stretched AI-driven valuations and fading expectations of a December Fed rate cut. CME FedWatch now shows a 43.4% probability of a 25 bps cut at the December 10-11 meeting, down from 61.9% last week.

  • Relative strength index (RSI) indicates that stocks like GMR Airport, Canara Bank, Asian Paints, and 3M India are in the overbought zone.

  • Deven Choksey downgrades Ashok Leyland to an 'Accumulate' call from 'Buy', with a target price of Rs 156 per share. This indicates a potential upside of 7.4%. The brokerage cites the high valuation but remains positive on the stock, supported by improving freight activity, GST-led demand uplift, and healthy order growth across trucks, buses, and LCVs. It expects the company's revenue to grow at an 8.9% CAGR over FY26-28.

  • Sammaan Capital falls sharply after the Supreme Court orders the Central Bureau of Investigation (CBI) to file an FIR in a case alleging misuse of funds through dubious loans routed back to promoters. The court also noted that several agencies failed to adequately investigate the matter.

  • Bondada Engineering is rising as it enters a 5-year partnership with Adani Green Energy to develop renewable energy projects. The company also bags an order from Adani Green for 650 MW of solar energy works under the partnership.

  • Morgan Stanley expects the Reserve Bank of India to cut the repo rate by 25 basis points at its December 2025 policy meeting, citing continued downside surprises in headline CPI inflation. The brokerage then expects the RBI to become more data-dependent and shift to a “wait and watch” stance.

  • Tata Consultancy Services is rising as it secures a 5-year contract from the National Health Service (NHS) Supply Chain to upgrade its IT systems.

  • Knowledge Marine & Engineering Works bags a 15-year contract worth Rs 384.3 crore from Vishakhapatnam Port Authority for manning, operation, maintenance and technical management of a marine vessel.

  • NBCC (India) sells 609 residential units in Aspire Leisure Valley and Aspire Centurian Park, Greater Noida, for Rs 1,069.4 crore through an e-auction.

  • Vikas Jain of CLSA notes that India has been a rare underperformer in an otherwise strong global equity rally in 2025. However, he believes improving macro data, normalising valuations, and a slowdown in negative developments support a stance of “guarded bullishness.” He adds that downside risks appear limited, with valuations having corrected and the broader news flow stabilising.

  • Hindustan Unilever rises as it sets December 5 as the record date to determine eligible shareholders for its new ice-cream division, Kwality Wall’s (India). The demerger becomes effective on December 1, 2025.

  • Sagility falls as its promoter, Sagility BV, sells a 16.4% stake (or 76.9 crore shares) worth ~Rs 3,894.2 crore through the open market.

  • Marksans Pharma receives US FDA approval for its abbreviated new drug application (ANDA) for Loperamide Hydrochloride (HCL) tablets. The drug is a bioequivalent of the reference listed drug (RLD), Imodium A-D tablets of Kenvue Brands and is used to treat diarrhoea. It has an estimated market size of $300 million in the US as of 2024.

  • Vinati Saraf Mutreja, MD of Vinati Organics, says the company now produces the highest volume of antioxidants in India, with their revenue contribution expected to increase to 15–16% from about 12% currently. She projects revenue growth of 10–12%, margins of around 27%, and volume growth of over 15% for FY26. She notes that volumes are rising despite lower prices.

  • HCL Tech rises as it opens a new Calgary office and signs an MoU with Invest Alberta to strengthen its presence in Canada. The move increases delivery capacity in a market where it already serves over 50 clients.

  • Tenneco Clean Air India's shares debut on the bourses at a 27.2% premium to the issue price of Rs 397. The Rs 3,600 crore IPO received bids for 58.8 times the total shares on offer.

  • Infosys is rising sharply as its board of directors approves a buyback of 10 crore shares for Rs 18,000 crore at Rs 1,800 each.

  • Elara Capital upgrades SBI Cards and Payment Services to an 'Accumulate' rating and a higher target price of Rs 1,006. The brokerage highlights a clear improvement in asset quality, a stronger balance sheet, and better profitability prospects from FY27. It believes the stress cycle has largely passed and that SBI Cards is now in the final phase of balance-sheet cleanup, supporting a recovery in credit costs, cards-in-force (CIF) growth, and return ratios.

  • Azad Engineering rises as it signs a long-term agreement with Pratt & Whitney Canada to develop and make aircraft engine parts.

  • Computer Age Management Services' board of directors approves a 1:5 stock split, sets record date as December 5.

  • KP Energy is rising sharply as it signs a memorandum of understanding (MoU) with Inox Wind to jointly develop 2.5 GW of wind and wind-solar hybrid projects.

  • Morgan Stanley initiates coverage on LG Electronics India with an 'Overweight' rating and a target price of Rs 1,864. The brokerage views LG as a top-tier consumer durables franchise in India, noting its strong position in a highly competitive market. It highlights the company’s industry-leading margins and capital efficiency, and expects new capacity additions, along with rising export and B2B contributions, to drive revenue and margin growth.

  • Goel Construction is rising as it wins a Rs 173.3 crore order from Aditya Birla Group. The work includes civil and safety projects at the Pali Cement Works unit in Rajasthan.

  • KEC International is falling sharply as Power Grid Corp of India excludes the company from its tenders and award of contracts for nine months for alleged breach of contractual provisions.

  • Waaree Energies is falling as the Income Tax Department conducts a search at its offices and facilities in India.

  • GR Infraprojects is rising as it secures an order worth Rs 262 crore from Western Railways in the Vadodara division for gauge conversion of a 38.9 km track and related construction works.

  • Nifty 50 was trading at 25,884.85 (-25.2, -0.1%), BSE Sensex was trading at 84,658.57 (-14.5, 0.0%) while the broader Nifty 500 was trading at 23,801.45 (-23.2, -0.1%).

  • Market breadth is in the red. Of the 2,162 stocks traded today, 846 were gainers and 1,248 were losers.

Riding High:

Largecap and midcap gainers today include L&T Technology Services Ltd. (4,440, 9.0%), Linde India Ltd. (6,076.50, 6.7%) and Max Healthcare Institute Ltd. (1,164.40, 4.3%).

Downers:

Largecap and midcap losers today include Waaree Energies Ltd. (3,174.40, -3.3%), Tata Motors Passenger Vehicles Ltd. (360.85, -2.8%) and Biocon Ltd. (410.10, -2.7%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included L&T Technology Services Ltd. (4,440, 9.0%), Linde India Ltd. (6,076.50, 6.7%) and Latent View Analytics Ltd. (494.25, 5.2%).

Top high volume losers on BSE were Sammaan Capital Ltd. (159.55, -12.7%), KEC International Ltd. (710.35, -9.1%) and Concord Biotech Ltd. (1,448.70, -3.5%).

G R Infraprojects Ltd. (1081.90, -1.5%) was trading at 18.8 times of weekly average. Gland Pharma Ltd. (1,769.80, -1.1%) and Intellect Design Arena Ltd. (1,142.80, 5.0%) were trading with volumes 17.0 and 8.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

14 stocks took off, crossing 52 week highs, while 13 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - AIA Engineering Ltd. (3,733.40, 0.6%), Bank of Baroda (293.30, 1.7%) and Bank of Maharashtra (61.14, 1.2%).

Stocks making new 52 weeks lows included - SKF India Ltd. (1,975.60, -0.1%) and Tata Motors Passenger Vehicles Ltd. (360.85, -2.8%).

7 stocks climbed above their 200 day SMA including L&T Technology Services Ltd. (4,440, 9.0%) and Max Healthcare Institute Ltd. (1,164.40, 4.3%). 19 stocks slipped below their 200 SMA including Campus Activewear Ltd. (263.25, -3.0%) and Sundram Fasteners Ltd. (960.05, -2.5%).

 
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The Baseline
18 Nov 2025
Five stocks to buy from analysts this week - November 18, 2025
By Ruchir Sankhla

1. Apollo Tyres:

ICICI Direct maintains its ‘Buy’ rating on this tyre manufacturer, with a target price of Rs 605, an upside of 15.7%. The company delivered strong Q2FY26 results, with revenue growing 6.2% YoY to Rs 6,860.8 crore. Analysts Shashank Kanodia and Bhavish Doshi believe that GST 2.0 reforms and expansion in Hungary will boost auto segment volumes, driving revenue growth in the near to medium-term.

Management expresses confidence in navigating industry challenges, focusing on margin expansion and growth plans. The company saw strong performance in the replacement and original equipment manufacturing (OEM) segments, and exports recovered. Analysts believe reducing GST on new tyres (28% to 18%) and tractor tyres (5%) will improve cost competitiveness and boost demand across OEM and aftermarket channels.

Kanodia and Doshi note that passenger car radial (PCR) capacity expansion will finish in FY27. They expect management to ramp up the plant's capacity to meet growing demand, adding that favourable raw material prices and robust replacement market demand will sustain its growth. They project Apollo Tyres to deliver an 8.2% revenue CAGR and a 37.3% net profit CAGR over FY26-27.

2. Tata Steel:

Axis Direct upgrades this steel manufacturer to a ‘Buy’ rating, with a target price of Rs 195, an upside of 13.1%. In Q2FY26, net profit surged 3.7 times YoY to Rs 3,101.8 crore, thanks to lower raw material and finance costs. Revenue increased 8.3%, driven by growth across all regions. Analyst Aditya Welekar highlights that India volumes rose to 5.6 million tonnes (MT) as the Kalinganagar Phase II plant in Odisha continued its ramp-up.

Management expects volume growth to improve as Kalinganagar reaches its full 5 MT capacity by the end of FY26. Additional capacity from the Ludhiana electric arc furnace in FY27 and from the Jamshedpur combi mill will support medium-term growth. The next major expansion involves scaling up Neelachal Ispat Nigam to 5 MT from 1.1 MT.

Welekar notes the company’s cost-cutting program has worked effectively, achieving savings of Rs 5,450 crore in the first half of FY26. He expects volume growth to continue as new capacity comes online, though overall volumes may moderate after FY26 until large expansion projects begin. Sustained cost optimisation and a better product mix will remain key drivers of strong earnings.

3. Biocon: 

Motilal Oswal reiterates its ‘Buy’ rating on this biotech company with a target price of Rs 480, an upside of 13.9%. In Q2FY26, the company reported 19.6% YoY revenue growth to Rs 4,295.5 crore, driven by the biosimilars segment, which now accounts for over 60% of total sales. EBITDA rose 22% to Rs 840 crore, due to better operating leverage after adding three new facilities last year.

Analysts Tushar Manudhane and Vipul Mehta note that biosimilars remain the key growth driver, showing strong performance across North America, Europe, and emerging markets, boosted by new launches and market share gains. The generics segment also rebounded with 24% growth, helped by new US and European launches and contributions from facilities capitalised in FY25.

Biocon continues to reduce debt. Management confirms full repayment of the remaining structured debt by January 2026, with lower interest costs starting in H2FY26.

Manudhane and Mehta expect the company to enter a clear scale-up phase. They project 16% revenue growth and 77% net profit growth over FY26–28, supported by stronger biosimilar traction, a broader generics pipeline, and ongoing deleveraging efforts.

4. Welspun Corp: 

Geojit BNP Paribas maintains its ‘Buy’ rating on this iron & steel producer, with a target price of Rs 1,150, an upside of 27.3%. In Q2FY26, the company reported 32.5% YoY revenue growth to Rs 4,373.6 crore. EBITDA rose 48%, and margins improved 140 basis points. Net profit jumped 53.2%, thanks to tighter cost control and improved operational efficiency.

The company’s US subsidiary secured $715 million (over Rs 6,300 crore) in line-pipe orders for natural gas and natural gas liquids projects. These orders offer revenue visibility through FY28 and strengthen the company’s position in the US energy infrastructure chain. Demand in this sector is rising due to new gas projects and growing data centre requirements.

The order book stands at Rs 23,500 crore, providing a multi-year pipeline across domestic and international markets. Analyst Mithun T Joseph states this visibility comes from rising demand for energy transportation systems and steady demand from industrial and water pipeline projects.

Joseph believes Welspun Corp is well-positioned to benefit from global spending in energy infrastructure, its large order book, margin improvement, and a disciplined cost structure. Despite recent investments, the company maintains a healthy balance sheet and improving returns.

5. DOMS Industries: 

Prabhudas Lilladher retains its ‘Buy’ rating on this stationary manufacturer, with a target price of Rs 3,085, an upside of 20.8%. The company delivered robust Q2FY26 results, with revenue jumping 23.8% and net profit growing 13.5% YoY. Analysts Jinesh Joshi and Stuti Beria note that healthy volume growth in the stationery segment (91.7% of revenue) amid new product launches across scholastic stationery, kits & combos, and office supplies supported revenue growth.

Management maintains its capex guidance at Rs 2,100-2,250 crore for FY26. This capex funds a 44-acre expansion project, enabling in-house tip production, in a bid to reduce procurement costs and boost margins. Extended monsoons delayed the expansion, but management expects production to start by Q1FY27. 

Joshi and Beria add that the company’s focus on capacity expansion in the core stationery business, widening the product basket, and strengthening the distribution network will drive top-line and profitability. They expect DOMS Industries to deliver a 22% revenue CAGR and a 24% net profit CAGR over FY26-28.

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
18 Nov 2025
Market closes lower, dragged by weakness in IT, Metal and Realty sectors
By Trendlyne Analysis

Nifty 50 closed at 25,910.05 (-103.4, -0.4%), BSE Sensex closed at 84,673.02 (-277.9, -0.3%) while the broader Nifty 500 closed at 23,824.65 (-129.9, -0.5%). Market breadth is moving down. Of the 2,593 stocks traded today, 753 were on the uptick, and 1,811 were down.

Indian indices closed lower after extending losses in the morning session. The Indian volatility index, Nifty VIX, rose 2.6% and closed at 12.1 points. Physicswallah's shares made their debut on the bourses at a 33% premium to the issue price of Rs 109. The Rs 3,480 crore IPO received bids for 1.8 times the total shares on offer.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower. Nifty IT and Nifty Realty were among the top index losers today. According to Trendlyne’s sector dashboard, Diversified emerged as the worst-performing sector of the day, with a fall of 1.5%.

Asian indices closed in the red. European indices are trading lower, except for Russia’s RTSI and MOEX indices. US index futures are trading lower as investors turn cautious ahead of delayed economic releases. The Bureau of Labor Statistics said it will release the September jobs report on Thursday, followed by the real earnings report on Friday. Meanwhile, Home Depot, PDD Holdings, and Medtronic are set to report their results later today.

  • Money flow index (MFI) indicates that stocks like Kirloskar Oil Engines, Chennai Petroleum, CCL Products India, and Muthoot Finance are in the overbought zone.

  • Greaves Cotton partners with Europe’s Ligier Group to supply its 499cc diesel engines for the JS50 and Myli microcars. The engines will be used in light vehicles sold across several European markets.

  • Indian Renewable Energy Development Agency reportedly plans to raise Rs 3,000 crore through a qualified institutional placement (QIP) of equity shares.

  • Praj Industries rises as it signs a MoU with Allied Biofuels to build Central Asia’s largest ethanol-based clean-fuel refinery in Uzbekistan. The project will produce 890 tonnes of ethanol per day, which will feed into large-scale production of sustainable aviation fuel and green diesel.

  • Nomura upgrades Siemens to 'Neutral' with a higher target price of Rs 3,325. The brokerage raises its FY26–27 earnings estimates by 3%, supported by improving profitability in the mobility (MO) segment and steady order conversion across key verticals. Siemens’ order backlog stands at Rs 42,250 crore, up 6% YoY and slightly above estimates, providing strong revenue visibility.

  • Ajax Engineering's Q2FY26 revenue grows 47.7% YoY to Rs 44.8 crore, surpassing the Forecaster estimates by 28.5%. Net profit increases 15% YoY to Rs 39.1 crore during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding in the last quarter.

  • Bombay Burmah Trading Corp surges more than 10% as it terminates its agreement with MSTC to conduct an e-auction to sell its properties. The company cites the bidding process as unsuccessful and inconsistent with its strategies as the reason for the termination.

  • ICICI Direct retains its 'Buy' call on Ipca Laboratories, with a target price of Rs 1,660 per share. This indicates a potential upside of 15.9%. The brokerage remains positive on the stock, driven by its vertically integrated business model, strong domestic franchise, and diversified export business. It expects Ipca to deliver a net profit CAGR of 37.7% over FY26-27.

  • Jairam Sampath, CFO of Kaynes Technology, expects margins to remain strong at around 16% in FY26, helped by an improved business mix and the addition of high-margin segments. He targets $1 billion in revenue by early FY28. Sampath adds that OSAT (outsourced semiconductor assembly and test) revenue in FY27 could exceed Rs 1,000 crore, though this is lower than the earlier estimate of Rs 1,500 crore.

  • Solar Industries India, along with its subsidiaries, receives export orders worth Rs 1,400 crore from international clients to supply defence products.

  • Asian Paints' Managing Director and Chief Executive Officer, Amit Syngle, retains margin guidance at 18-20% during FY26, citing a reduction in raw material prices. He adds that this reduction will help the company to maintain its pricing strategy without needing hikes or concessions.

  • Pace Digitek secures a Rs 929.8 crore order from Maharashtra State Power Generation Co (MSPGCL) to build a 200 MWAC (megawatt alternating current) ground-mounted solar plant. The contract also covers design-to-commissioning work and three years of operations and maintenance.

  • Abhay Sol, Chairman and MD of Max Healthcare Institute, highlights plans to double bed capacity by 2030. He expects the upgraded CGHS portal to add about Rs 200 crore to annual revenue. Sol notes that Q2 profit benefited from GST cuts, while insurance and self-pay average revenue per occupied bed (ARPOB) rose 7–8% YoY. However, cash flows were soft due to delays in institutional receivables.

  • WeWork India Management rises sharply as Jefferies initiates coverage with a ‘Buy’ call and a target price of Rs 790, highlighting its lead as India’s largest flexible workspace operator. The firm plans to add 15,000–20,000 seats each year for the next three years. Jefferies also notes that WeWork India earns about twice as much per user as its listed peers and generates more revenue than it pays in rent. It says this strong gap supports faster growth and better profitability.

  • DCB Bank rises to its 52-week high of Rs 189.2 per share as Motilal Oswal retains its ‘Buy’ call with a higher target price of Rs 210. The management highlighted that net interest margins have bottomed and are likely to pick up. The brokerage notes steady loan growth, with increased focus on retail and gold lending, and believes the bank may benefit from improving margins and stronger earnings over the next few years.

  • AstraZeneca Pharma rises as it enters a partnership with Sun Pharmaceuticals to distribute and market Sodium Zirconium Cyclosilicate (SZC) in India. The drug is used to treat Hyperkalaemia and has an estimated market size of $1.3 billion as of 2024.

  • Morgan Stanley forecasts a 13% rise in the Sensex, with the index reaching 95,000 by December 2026. It notes that India’s long-term outlook is strengthening, supported by government policy measures and a cyclical recovery driven by the policy pivot. It holds an ‘overweight’ stance on consumer discretionary, industrials and financials, and ‘equalweight’ call on communication services, consumer staples and technology.

  • Physicswallah's shares debut on the bourses at a 33% premium to the issue price of Rs 109. The Rs 3,480 crore IPO received bids for 1.8 times the total shares on offer.

  • Emmvee Photovoltaic Power’s shares make a flat debut on the bourses at Rs 217. The Rs 2,900 crore IPO received bids for 1X the total shares on offer.

  • Mphasis is falling as its promoter, Blackstone, plans to sell 1.8 crore shares worth Rs 4,626 crore at a floor price of Rs 2,570 per share through BCP Topco IX.

  • Saurabh Gupta, Group CFO of Dixon Technologies, expects strong revenue growth and margin expansion by FY28. He says the company is closely monitoring smartphone demand and inventory levels, and adds that Chinese EMS players are steadily gaining share in India. Dixon has also trimmed its FY26 revenue guidance following a short-term disruption from the mid-August GST rate cut, which deferred consumer purchases and weighed on Q2 sales.

  • One97 Communications (Paytm) is falling after Elevation Capital reportedly plans to sell a 2% stake (or 1.3 crore shares) worth Rs 1,640 crore at Rs 1,281 per share.

  • Emcure Pharmaceuticals is falling sharply as Bain Capital reportedly plans to sell 38 lakh shares (or 2% stake) worth Rs 492.7 crore in the company through its subsidiary, BC Investments IV.

  • WPIL surges as its subsidiary receives an order worth Rs 426 crore from METSI KE MATLA JV for electro-mechanical and instrumentation work for the MCWAP2 water project of the Trans Caledon Tunnel Authority.

  • JSW Infrastructure rises as its arm enters a share subscription and purchase agreement (SSPA) with Minerals Development Oman (MDO) and South Minerals Port Co to acquire a 51% stake in Port Special Purpose Vehicle (SPV). The company plans to build and operate a port at a capex of Rs $419 million (~Rs 3,716 crore) through the SPV.

  • Nifty 50 was trading at 25,951.45 (-62, -0.2%), BSE Sensex was trading at 85,042.37 (91.4, 0.1%), while the broader Nifty 500 was trading at 23,890.80 (-63.8, -0.3%).

  • Market breadth is in the red. Of the 2,110 stocks traded today, 835 showed gains, and 1,194 showed losses.

Riding High:

Largecap and midcap gainers today include GMR Airports Ltd. (103.72, 6.2%), Mahindra & Mahindra Financial Services Ltd. (322.90, 2.8%) and Bharti Hexacom Ltd. (1,829.30, 2.5%).

Downers:

Largecap and midcap losers today include Cummins India Ltd. (4,252.40, -2.9%), Ipca Laboratories Ltd. (1,422.90, -2.9%) and SBI Cards and Payment Services Ltd. (867.35, -2.5%).

Movers and Shakers

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

Top high volume gainers on BSE included Bombay Burmah Trading Corporation Ltd. (2,022.70, 9.8%), GMR Airports Ltd. (103.72, 6.2%) and Sapphire Foods India Ltd. (262.15, 4.3%).

Top high volume losers on BSE were Kaynes Technology India Ltd. (5,889, -5.6%), International Gemmological Institute (India) Ltd. (320.60, -5.1%) and One97 Communications Ltd. (1,295.50, -2.8%).

Akzo Nobel India Ltd. (3,381.70, 1.6%) was trading at 36.3 times of weekly average. Sundram Fasteners Ltd. (984.75, 2.5%) and Aster DM Healthcare Ltd. (681.05, 0.3%) were trading with volumes 12.2 and 9.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

19 stocks overperformed with 52 week highs, while 6 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Bharti Airtel Ltd. (2,149.20, 1.8%), Biocon Ltd. (421.60, 0.2%) and Can Fin Homes Ltd. (906.80, 1.6%).

Stocks making new 52 weeks lows included - Bata India Ltd. (1,014.80, 0.0%) and SKF India Ltd. (1,976.80, -4.1%).

8 stocks climbed above their 200 day SMA including Bombay Burmah Trading Corporation Ltd. (2,022.70, 9.8%) and Sundram Fasteners Ltd. (984.75, 2.5%). 14 stocks slipped below their 200 SMA including Alembic Pharmaceuticals Ltd. (913.55, -3.7%) and Star Cement Ltd. (229.45, -2.5%).

 
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Trendlyne Marketwatch
17 Nov 2025
Market closes higher as Nifty Bank touches its all-time high
By Trendlyne Analysis

Nifty 50 closed at 26,013.45 (103.4, 0.4%), BSE Sensex closed at 84,950.95 (388.2, 0.5%) while the broader Nifty 500 closed at 23,954.55 (118.2, 0.5%). Market breadth is even. Of the 2,635 stocks traded today, 1,292 showed gains, and 1,301 showed losses.

Indian indices closed higher after extending gains in the afternoon session. The Indian volatility index, Nifty VIX, fell 1.6% and closed at 11.8 points. Narayana Hrudayalaya closed 14.5% higher after its Q2FY26 revenue jumped 17.2% YoY to Rs 1,667.8 crore, led by higher footfalls, better payor mix and strong demand in its clinic outreach model.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher, tracking the benchmark index. Nifty PSU Bank and Nifty India Digital were among the best-performing indices of the day. According to Trendlyne’s sector dashboard, Hardware Technology & Equipment emerged as the highest-performing sector of the day, with a rise of 1.9%.

European indices are trading mixed. Major Asian indices closed with varied trends. US index futures are trading higher, indicating a positive start to the session as investors await the release of the US employment data, set to come out later this week. Meanwhile, Trip.com Group, AECOM and H World Group are set to report their results later today.

  • Relative strength index (RSI) indicates that stocks like Asian Paints, Canara Bank, Muthoot Finance, and 3M India are in the overbought zone.

  • V2 Retail rises as it reports a net profit of Rs 17.2 crore in Q2FY26 compared to a loss of Rs 1.9 crore in Q2FY25, helped by inventory destocking and lower raw materials and jobworking charges. Revenue grows 86.5% YoY to Rs 708.6 crore during the quarter. It features in a screener of stocks near their 52-week high with significant volumes.

  • SpiceJet rises as it expects its operational fleet to double by year-end and expand its network reach. The company plans to return its grounded Boeing aircraft to service, targeting up to eight jets by early 2026, with several set to rejoin the fleet this winter and into 2025.

  • Marico rises as Motilal Oswal retains its ‘Buy’ call, with a target price of Rs 850 per share. This indicates a potential upside of 15%. The brokerage remains positive on the stock, backed by strong domestic sales and solid growth in key brands like Parachute. It expects margins to improve as copra prices soften and sees profits growing steadily over the next two years.

  • India’s merchandise trade deficit widens to $41.7 billion in October from $32.2 billion in September. Commerce Secretary Rajesh Agarwal notes that goods exports declined by around $4 billion in October, marking the first drop this fiscal year, partly due to lower exports to the US.

  • KEC International secures multiple orders worth Rs 1,016 crore across the buildings & factories (B&F), oil & gas pipelines, transmission & distribution (T&D), and cables & conductors businesses.

  • NBCC (India) is rising as it secures an order worth Rs 498.3 crore from Damodar Valley Corp to construct an integrated township at the Chandrapura Thermal Power Station.

  • Inox Wind is falling as its Q2FY26 net profit misses Forecaster estimates by 24.6% despite surging 3.6x YoY to Rs 91.8 crore, helped by inventory destocking. Revenue jumps 56.3% YoY to Rs 1,162.5 crore, led by strong order execution. It shows up in a screener of stocks with expensive valuations according to Trendlyne valuation scores.

  • CLSA Technical Strategist Laurence Balanco reiterates his long-term bullish stance on the Nifty 50, maintaining a target of 37,375–37,400 despite near-term volatility. He notes that the index has completed two major bull cycles since the 2001 lows and believes the current uptrend still has several years to run, implying potential upside of more than 59% from current levels.

  • IdeaForge Technology surges as it wins over Rs 100 crore in new defence orders for unmanned aerial vehicles (UAVs) from the Indian Army and Ministry of Defence (MoD). The orders cover drones meant for tactical and surveillance operations.

  • Ahluwalia Contracts surges more than 10% as its Q2FY26 net profit jumps 103.2% YoY to Rs 78.6 crore, owing to lower construction and finance costs. Revenue grows 16.5% YoY to Rs 1,192.3 crore, led by an improvement in the contract work segment. It features in a screener of stocks with prices above short, medium and long-term moving averages.

  • Oil India is rising as its Q2FY26 revenue grows 11.4% YoY to Rs 8,911.3 crore, helped by improvements in the natural gas, refinery products, liquified natural gas, and pipeline transportation segments. However, net profit declines 29.1% YoY to Rs 1,428.8 crore due to higher inventory, employee benefits, contract, and finance costs. It appears in a screener of stocks with improving net cash flow over the past two years.

  • Varun Kapur, MD & CEO of Travel Food Services, says H1 performance was impacted by an unexpected drop in passenger traffic amid geopolitical disruptions, but sees a strong recovery in H2. He expects system-wide sales to reach around Rs 4,000 crore in FY27, with PAT margins steady at 25–26%. He also highlights that the company has added 50 QSR outlets over the past year.

  • Anant Raj is rising as it signs a memorandum of understanding (MoU) with the government of Andhra Pradesh to invest Rs 4,500 crore to develop data centres and cloud services.

  • Narayana Hrudayalaya is rising sharply as its Q2FY26 net profit grows 30.1% YoY to Rs 258.5 crore. Revenue jumps 17.2% YoY to Rs 1,667.8 crore, supported by an improvement in the medical & healthcare services segment. It appears in a screener of stocks with increasing revenue for the past three quarters.

  • Ashoka Buildcon falls as net profit declines 80.4% YoY to Rs 90.7 crore in Q2FY26, weighed down by a Rs 219.3 crore loss on the sale of stakes in five subsidiaries. Revenue declines 25.6% to Rs 1,851.2 crore, due to a smaller project base after recent asset sales and slower execution on ongoing works. It appears in a screener of companies with growing YoY costs for long-term projects.

  • UBS reiterates its 'Sell' rating on Bharat Forge with a higher target price of Rs 1,230. The brokerage notes that management expects a soft Q3, with recovery beginning in Q4. In Q2, the company saw weakness in the auto segment but strong momentum in defence. Margins stayed healthy, supported by tight cost control. UBS also highlights that the company is evaluating a restructuring of its EU steel business, with an update expected by the end of the fiscal year.

  • Siemens is rising as its Q2FY26 revenue beats Forecaster estimates by 6.3% after growing 16% YoY to Rs 5,171.2 crore, helped by improvements in the smart infrastructure, mobility, and digital industries segments. However, net profit declines 41.6% YoY to Rs 484.9 crore due to a high base effect in Q2FY25 from a one-time property gain. It appears in a screener of stocks with zero promoter pledge.

  • Max Healthcare's net profit surges 74% YoY to Rs 491.3 crore in Q2FY26. Revenue rises 25.1% YoY to Rs 2,135.47 crore, driven by higher patient volumes across its medical and healthcare services businesses. It appears in a screener of companies with high TTM EPS growth.

  • IRB Infrastructure Developers rises sharply as it bags a letter of award (LoA) worth Rs 9,270 crore from the National Highways Authority of India (NHAI) to construct highways in Uttar Pradesh.

  • Ravi Jakhar, Group CFO of Allcargo Logistics, expects PAT to grow about 20% from Q4FY26, supported by strict cost control and the scaling up of the express business. He adds that overheads were well managed in Q2, while Q3 revenue is likely to remain flat due to the strong festive-season base in Q2.

  • Indian Hotels enters a share purchase agreement to acquire a 51% stake in health and wellness resort operator, Sparsh Infratech, for Rs 240 crore.

  • GMR Power & Urban Infra is rising sharply as its Q2FY26 net profit surges 3.5x YoY to Rs 888.4 crore, helped by a Rs 1,023 crore exceptional gain. Revenue jumps 27.5% YoY to Rs 1,922 crore, helped by improvements in the power and smart meter infrastructure segments. It appears in a screener of newly affordable stocks with good financials and durability.

  • Tata Motors Passenger Vehicles is falling sharply as its Q2FY26 revenue declines 28.4% YoY to Rs 73,810 crore, due to the temporary shutdown of Jaguar Land Rover's operations caused by a cyber incident. However, net profit surges 22.8x YoY to Rs 76,170 crore, led by a Rs 82,616 crore gain from the demerger of the commercial vehicle business. It shows up in a screener of stocks with declining net cash flow.

  • Glenmark Pharmaceuticals is falling as its Q2FY26 net profit misses Forecaster estimates by 75.6% despite surging 72.3% YoY to Rs 610.4 crore, helped by a Rs 103.1 crore deferred tax return and lower raw material expenses. Revenue jumps 79.9% YoY to Rs 6,247.5 crore, supported by improvements in the North American and European markets. It features in a screener of stocks with high trailing twelve-month (TTM) EPS growth.

  • Nifty 50 was trading at 25,951.05 (41, 0.2%), BSE Sensex was trading at 84,700.50 (137.7, 0.2%), while the broader Nifty 500 was trading at 23,904.75 (68.4, 0.3%).

  • Market breadth is ticking up strongly. Of the 2,254 stocks traded today, 1,471 were in the positive territory and 695 were negative.

Riding High:

Largecap and midcap gainers today include Siemens Ltd. (3,232.60, 4.8%), Hero MotoCorp Ltd. (5,798.50, 4.7%) and PB Fintech Ltd. (1,819.80, 4.7%).

Downers:

Largecap and midcap losers today include Tata Motors Passenger Vehicles Ltd. (372.70, -4.7%), Bajaj Holdings & Investment Ltd. (12,150, -3.3%) and Astral Ltd. (1,465.70, -3.2%).

Volume Shockers

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

Top high volume gainers on BSE included Narayana Hrudayalaya Ltd. (2,008.20, 14.5%), Maharashtra Scooters Ltd. (15,400, 7.4%) and Jubilant Ingrevia Ltd. (718.25, 5.2%).

Top high volume losers on BSE were Rainbow Childrens Medicare Ltd. (1308.20, -2.5%), Inox Wind Ltd. (146.11, -1.7%) and Glenmark Pharmaceuticals Ltd. (1,868.90, -1.4%).

SKF India Ltd. (2061.30, 0.8%) was trading at 42.2 times of weekly average. Atul Ltd. (6,016.50, 1.7%) and Elgi Equipments Ltd. (514.70, 2.6%) were trading with volumes 11.7 and 9.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

25 stocks took off, crossing 52 week highs, while 5 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Asian Paints Ltd. (2,887.90, -0.6%), Bank of India (147.35, 0.6%) and Bharat Petroleum Corporation Ltd. (374.25, 0.8%).

Stocks making new 52 weeks lows included - Bata India Ltd. (1,014.60, -1.2%) and Tata Motors Passenger Vehicles Ltd. (372.70, -4.7%).

24 stocks climbed above their 200 day SMA including Jubilant Ingrevia Ltd. (718.25, 5.2%) and Alembic Pharmaceuticals Ltd. (948.85, 5.0%). 6 stocks slipped below their 200 SMA including Chalet Hotels Ltd. (871.50, -1.4%) and UltraTech Cement Ltd. (11,775, -0.8%).

 
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The Baseline US
17 Nov 2025
Markets are hitting the high notes, but the band looks a bit nervous

Plenty of CEOs are feeling at the top of the world this earnings season. One can expect the bar bills at Kokkari and Nobu to skyrocket as they celebrate. Of the 90% of listed companies that have reported results for the quarter, over 80% have beaten consensus earnings estimates. Most US indices, led by this positive momentum, soared to new all-time highs.

So why is sentiment so wobbly? Despite all the good news, the folks paid to analyze these companies are not exactly popping the champagne. A Citigroup index that tracks whether analysts are upgrading or downgrading their earnings estimates is barely in positive territory, sitting at just 0.15.

This index is considered a leading indicator for shifts in corporate earnings. Its weakness indicates analysts don't think that the good news will last, or that its broad enough to translate into meaningfully higher profitsin the near future. The vibes are not great. 

Take AMD, for instance. Its Q3 numbers came in ahead of estimates, and its Q4 outlook also beat the consensus. But the stock still tanked by over 3% on results day and has been trending downward since. It’s the same story for Palantir, Uber, and a long list of other tech darlings.

As Bloomberg analysts point out, the problem wasn't that the outlook was bad per se—it's that it wasn't spectacularly, unbelievably good. The outlook didn't clear the “most optimistic of estimates.”

This is the classic sign of a stock “priced to perfection.” The market has already baked in every possible piece of good news, and believed everything promised by top management. Now anything less than a miracle is a disappointment. This is the theme for just about every AI flagbearer.

As an investor, you must be thinking about what you should do at this moment. Michael Burry says,

“Sometimes, the only winning move is not to play.”

Interestingly, the photo Burry posted with this quote was not of himself, but of movie star Christian Bale, who played him in the film The Big Short. Has Burry bought into his own mythology, and is unwisely betting against market wisdom with his AI short? Or is the bubble really ready to burst?

The problem with pessimism

The investor and cofounder of Merrill Lynch, Charles Merrill, was worried about over-valuation and speculation in the 1929 stock market. He pulled all his funds out early that year, and warned other investors. But the stock market continued to rise by another 90% before it finally collapsed. The problem with being the pessimist in the room, is that people can hold on to their beliefs much longer than you think, against all evidence.

This time around, many investors are echoing Burry's warnings. Berkshire Hathaway's cash pile is rising every quarter. It now stands at a staggering $380 billion. When one of the world's most successful investors is hoarding cash instead of buying stocks, it pays to ask why.

Bubble, bubble, toil and trouble: the hype train has led to sky-high valuations

Why is everything so expensive if the smart money is on the sidelines? In a word: AI.

The argument that drove the spike in AI valuations, is that AI will contribute up to $15.7 trillion to global GDP by 2030, where $6.6 trillion would be from productivity gains and $9.1 trillion from increased consumption.

AI company CEOs like Sam Altman also talked up the prospect of Artificial General Intelligence coming at the end of the year (a promise that got advanced by another year at the start of every new year).

This optimism lit a fire under AI-tracking ETFs (like the Global X Artificial Intelligence Technology ETF and the iShares Future AI & Tech ETF), which are trading at an annual gain of around 30%. This frenzy has pushed the whole market into nosebleed territory with the S&P 500 trading at a P/E of 28, while the Nasdaq 100 index trades at a P/E of 37. Both indices are at record highs after surging more than 14% this year.

Not everyone is sounding the alarm. Robert Edwards, chief investment officer at Edwards Asset Management, said that he thinks big tech stocks still have “gas left in the tank.” But even he added, somewhat weakly, that it is “time for a rotation into other parts of the market.”

Interestingly, the Russell 2000 (a small-cap index) has gained nearly as much as the S&P 500 from its April lows. Analysts attribute this to speculative and momentum bets, as more than 40% of the small-cap index's constituents are loss-making firms. Meanwhile, the S&P Midcap 400 is trading at a gain of 3% year-to-date.

Value is getting harder to find

Legendary investor Howard Marks of Oaktree Capital notes that every time the S&P 500 has traded at a forward P/E above 23 (think the dot-com peak or the 2021 highs), the next decade for investors has been miserable. We're talking average annualized returns of just 2-3%.

The reason is that when valuations are this high, there's no room for them to go higher. You are completely dependent on earnings growth that, historically, almost never lives up to the hype.

It’s a stark reminder that investing at the right valuation is just as important—and maybe more important—than investing in a good company.

So, where is the value now? It's pretty scarce.

Trendlyne’s valuation score checks if a stock is competitively priced based on its P/E, P/BV, and share price, among other metrics. A score over 50 is a good initial filter for value. 

Right now, less than 12% of all listed stocks in the US market have a valuation score above 50.

Check out this screener to filter all the value stocks based on Trendlyne’s valuation score. You can also edit the query to make the criteria more stringent or more relaxed, as you like.

Finding the unicorns

That 12% figure—that only about one-tenth of the market is “at value”—tells you just how overstretched things are. The other problem is that a “cheap” stock in this market isn't necessarily a “good” stock. A lot of stocks are cheap for a reason!

To find real opportunities, you need to find the (rare) combination of all three:

  • Durability: A solid business with stable revenues, profits, low debt, and good cash flow. (Right now, over 900 stocks have a Durability score above 55).
  • Momentum: The stock is actually in an uptrend and showing buyer demand. (Over 1,110 stocks have a Momentum score above 60).
  • Valuation: It's not crazy expensive.

How many stocks in the entire market have all three? Trendlyne’s Strong Performers screener filters for exactly this: high durability, good valuation, and strong momentum.

The result? Less than 90 stocks.

That’s it. Less than 2% of all US stocks. That's how rare it is to find a high-quality, fairly-priced company these days, that also has the wind at its back. A few of the names that currently make the cut include Leidos Holdings, Western Digital, Great Lakes Dredge & Dock Corp., Enersys, and Invesco.

Do check out the screener at Trendlyne to make more such filters of your own.

 
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The Baseline
14 Nov 2025
Five Interesting Stocks Today - November 14, 2025
By Trendlyne Analysis

1. InterGlobe Aviation (Indigo):

Thisairline provider rose over 3.5% last week following itsQ2FY26 results. The main trigger was its EBITDA margin, which jumped 480 basis points YoY to 18.7%, supported by firm ticket pricing, lower fuel costs, and tight flight schedules that kept occupancy stable at ~83%. 

Revenue grew 9.3% to Rs 18,555 crore. However, the rupee’s fall against the US dollar raised costs on the airline’s $9 billion debt, resulting in a net loss of Rs 2,580 crore. Excluding foreign exchange losses, net profit more than doubled to Rs 104 crore. Per-flight costs are expected to rise slightly as IndiGo adds capacity through damp leases amid grounding of 40 aircraft due to engine issues.

CFO Gaurav Negioutlined plans to expand IndiGo’s self-owned fleet and build an in-house maintenance facility in Bengaluru to reduce costs, with an investment of Rs 1,000 crore planned over the next few years. He also noted that the airline “aims for 12–14% capacity growth in FY26”, with revenue expected to remain steady or see a slight increase.

CEO Pieter Elbers highlighted the airline’s growth ambitions, saying IndiGo will accelerate global expansion. He added the airline will enhance premium services, “deploy A321XLRs for longer routes, and strengthen international connectivity”—all supported by a Rs 53,500 crore cash reserve and a strategic partnership with Asian Airlines in Greece.

ICICI Securitiesmaintains a Buy rating with a Rs 6,680 target, pointing to IndiGo's strong market position with limited flight availability across the market as a key advantage. Strong ticket prices and growth in business class and international routes will remain the key drivers of its profitability. 

2. Asian Paints:

Thispaint company rose 11.7% over the past week, hitting a 52-week high of Rs 2,909.9 on November 14 after strongQ2FY26 results. Net profit grew 43% YoY and revenue increased 6.3%, both beatinganalyst estimates. The growth was driven by solid demand in the domestic decorative segment and a recovery across industrial and international markets.

MD and CEO Amit Synglesaid the domestic decorative segment recorded a 10.9% volume increase, despite a prolonged monsoon. “This growth was driven by our ability to generate demand across urban and rural areas through regional activation and strong marketing efforts,” he said, referring to localised promotional campaigns across different markets.

While core coatings and international businesses performed well, the Home Decor segment continued to facechallenges, with revenue declines in most verticals. Syngle acknowledged that this business was “a little bit of a disappointment in terms of how we performed,” adding that the company is putting “a lot of initiatives for the second half of the year to get it in a zone that starts contributing to the core business.” The company is addressing this with network expansion, new product launches for kitchens and wardrobes, and improved tech-led service.

Asian Paints continues toinvest in backward integration projects to improve product differentiation. Its Rs 3,000 crore Vinyl Acetate Monomer–Vinyl Acetate Ethylene (VAM–VAE) project is nearing completion, with operations expected to start in Q1FY27. This project aims to cut input costs by producing these raw materials in-house. For FY26, managementexpects steady demand, helped by the festive and wedding seasons, while a good monsoon should boost rural paint demand by improving farm income and housing activity.

Jefferies hasmaintained its “Buy” rating and raised its price target to Rs 3,300 from Rs 2,900, post result, noting "the King is back" after several weak quarters. The brokerage points to consistent volume growth and market share gains driven by brand and product investments. It added that despite rising competition, Asian Paints’ deep dealer relationships continue to support its dominance.

3. Bharat Forge:

This casting & forgings producer’s stock climbed 5.8% over the past week, hitting a new 52-week high of Rs 1,411 after posting strong Q2FY26 results. Net profit jumped 22.8% YoY to Rs 299.2 crore, driven by a better product mix, inventory reductions, and lower finance costs. Revenue increased 8.9% to Rs 4,085.4 crore, fueled by strong performance in the defence, aerospace, and casting segments.

Both revenue and net profit beat Forecaster estimates by 7.6% and 17.4%, respectively. Strong performance in the domestic market supported revenue growth, driven by strong order execution in the defence and high-horsepower engines. However, export revenue (~31% of total revenue) fell 20% due to a slowdown in the North American commercial vehicle market, caused by slow freight growth, weak demand, tariff uncertainty, and inventory destocking.

Addressing US exports, Bharat Forge’s Vice Chairman and Joint Managing Director, Amit Kalyani, noted, “Tariff-related impact during Q2 stood at Rs 24 crore. Overall, we remain hopeful that US tariffs on India will settle down in the near term. We expect Q3 performance to be similar to Q2, with an uptick in Q4 from improved execution in the defence segment, new orders in the aerospace segment and a ramp-up of JS Auto.”

Following the results, HDFC Securities maintained its ‘Buy’ rating on Bharat Forge, setting a target price of Rs 1,620, a 16% upside. The brokerage remains positive, citing the long-term potential of the forging business (benefiting from China+1 and Europe+1 strategies) and the defence segment. It expects the company to deliver revenue and net profit CAGRs of 11.9% and 33.6% respectively, over FY26-28.

4.Bajaj Auto:

This 2&3 wheeler manufacturer has gained 1.4% over the past week following the announcement of its Q2 results on November 7. The firm beat Trendlyne’s Forecaster estimates for revenue by 2.2%, and for net profit by 1.2%. Net profit jumped 53% YoY to Rs 2,122 crore, driven by inventory destocking. Revenue grew 19.5%, led by improvements in two-wheeler and commercial vehicle sales.

Bajaj Auto's total vehicle sales grew 6% to 12.9 lakh units in Q2. Executive Director Rakesh Sharma said, “The festive season and recent GST cuts triggered record retail sales, with strong demand for the Pulsar 125cc and 150cc models as customers upgraded.” Looking ahead, the company expects the domestic two-wheeler industry to grow by 6-8% and aims to grow faster than the market in the 125cc+ segment.

Exports were the primary growth driver, surging 13%. The company's international performance was particularly strong, growing 1.5X faster than the industry in key overseas markets. Management expects this momentum to continue, supported by a competitive advantage in markets like Mexico, where Bajaj benefits from lower import tariffs. Total two-wheeler sales for the quarter reached around 11.5 lakh units.

Meanwhile, Bajaj Auto’s electric vehicles business has continued to grow, adding a little over Rs 10,000 crore in revenue in the last two years. Although the company faced supply chain issues (such as a shortage of rare-earth magnets), it expects EV growth to accelerate once these issues ease. It plans to invest Rs 600-700 crore to improve its ICE (internal combustion engine) vehicles and expand its EV lineup.

Following the company’s results, ICICI Direct maintained its ‘Buy’ rating with a Rs 10,250 target price. The brokerage believes that a strong export outlook, leadership in the domestic EV market, and a unique pipeline of upcoming products are expected to drive sustained growth for the company.

5. Aurobindo Pharma:

The stock of this pharmaceutical company climbed over 7% in the past week, even as it reported mixed second-quarter results on November 5th. The company’s net profit grew 8.2% YoY to Rs 581.4 crore, powered by strong performance in the European market. However, its total revenue remained flat, held back by a 17% drop in its Active Pharmaceutical Ingredient (API) business and approval delays at a key manufacturing facility, Eugia Unit-III.

The company’s Q2 net profit missed Trendlyne's Forecaster estimate by 3.9% due to increase in employee expenses and muted growth in the US. As an export-driven company, the US is its largest market, making up 44% of all revenue, with Europe following at 30%. This heavy reliance means any slowdown in the US market can have a significant impact. The stock appears in a screener of companies with rising net cash flow and operating cash flow, supported by its expansion into complex areas such as biosimilars.

The clear star of the quarter was the European business, which continued its strong growth streak with an 18% jump in revenue. The company’s CFO, S. Subramanian, stated they are "firmly on track" to hit their €1 billion annual revenue goal from Europe by the end of FY26. Management also expects its injectable drug business to improve, driven by new product launches and a recent acquisition in the US.

Mr. Subramanian added that the company's new oral dosage facility in China is ramping up. The site, which has already received 10 approvals for Europe, is on track to become profitable by the end of the fiscal year, reinforcing its strategic importance to the company's global network.

Looking ahead, brokerage firm ICICI Direct has maintained a ‘Buy’ rating with a target price of Rs 1,375. It believes the current slowdown is temporary and expects the regulatory logjam at its Eugia manufacturing plant to be resolved by the end of FY26. The firm sees the US business recovering in FY27, while noting that Europe has clearly emerged as the company's new growth driver.

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
14 Nov 2025
Market closes higher following NDA's victory in the Bihar state elections
By Trendlyne Analysis

Nifty 50 closed at 25,910.05 (30.9, 0.1%), BSE Sensex closed at 84,562.78 (84.1, 0.1%) while the broader Nifty 500 closed at 23,836.35 (20.4, 0.1%). Market breadth is in the red. Of the 2,599 stocks traded today, 1,130 showed gains, and 1,432 showed losses.

Indian indices closed higher following NDA's victory in the Bihar state elections. The Indian volatility index, Nifty VIX, fell 1.8% and closed at 11.9 points. Pine Labs' shares made their debut on the bourses at a 9.5% premium to the issue price of Rs 221. The Rs 3,899.9 crore IPO received bids for 2.5 times the total shares on offer.

Nifty Smallcap 100 closed higher, while Nifty Midcap 100 closed flat. Nifty PSU Bank and Nifty India Defence closed higher. According to Trendlyne’s Sector dashboard, Diversified emerged as the best-performing sector of the day, with a rise of 1%.

European indices are trading lower. Major Asian indices closed mixed. US index futures are trading in the red, indicating a cautious start to the session, as investors assess the impact of the Federal Reserve’s reluctance on further rate cuts. Meanwhile, Applied Materials fell in premarket trading after warning that spending on chip-making equipment in China is likely to decline next year amid tighter US export controls.

  • Money flow index (MFI) indicates that stocks like Chennai Petroleum, Kirloskar Oil Engines, CCL Products India, and Max Financial Services are in the overbought zone.

  • Natco Pharma is falling as its Q2FY26 net profit declines 23.5% YoY to Rs 518.4 crore due to higher raw materials, inventory, finance, employee benefits, and depreciation & amortisation expenses. However, revenue grows 2% YoY to Rs 1,463 crore, led by an improvement in the agrochemicals segment. It shows up in a screener of stocks with growing costs YoY for long-term projects.

  • Muthoot Finance rises to its 52-week high as its net profit surges 88% YoY to Rs 4,391 crore in Q2FY26. Revenue increases 55% to Rs 11,897 crore, driven by strong growth in its gold loan portfolio. It appears in a screener of undervalued growth stocks.

  • Akums Drugs & Pharmaceuticals falls as net profit drops 36% YoY to Rs 43 crore in Q2FY26, hit by lower API prices, and higher overhead from new facilities. Revenue remains largely flat at Rs 1,018 crore, as CDMO volume growth is offset by reduced trade generics and API sales. It appears in a screener of stocks with PE higher than the industry PE.

  • HSBC upgrades Jubilant Foodworks to a 'Buy' rating with a target price of Rs 660. The brokerage highlights the company’s strong franchise quality, ongoing strategic initiatives, and easing competitive pressures. HSBC notes that while same-store sales growth (SSSG) in the second half of FY26 is likely to moderate versus the first half, its 5% forecast for H2FY26 remains solid and compares well with other consumer peers, leaving scope for upside.

  • Man Industries surges as its net profit grows 16.1% YoY to Rs 37 crore in Q2FY26, helped by lower material costs. Revenue increases 3.5% YoY to Rs 834.1 crore, driven by higher sales in the steel products segment during the quarter. The company appears in a screener of stocks with improving RoCE over the past two years.

  • MRF's Q2FY26 net profit grows 11.7% YoY to Rs 525.6 crore, supported by lower raw material expenses. Revenue increases 7% YoY to Rs 7,486.8 crore during the quarter. It appears in a screener of stocks with increasing revenue for the past three quarters.

  • Adani Green Energy's subsidiary, Adani Saur Urja (KA), secures a letter of award (LoA) from Assam Power Distribution Co (APDCL) to procure 500 MW of energy storage capacity at a tariff of Rs 1 lakh per MW per annum, totalling Rs 514.6 crore per annum. The company plans to set up two pumped storage plants (PSPs) in the state with a combined capacity of 2,700 MW, at a capex of Rs 15,000 crore.

  • IT stocks like Infosys and HCLTech decline amid rising expectations that the US Federal Reserve will keep its policy rate unchanged at the December FOMC meeting. A growing number of Fed policymakers are signalling a reluctance to cut rates further.

  • Adani Power is rising as it bags a letter of award (LoA) from Assam Power Distribution Co (APDCL) to supply 3,200 MW of power. The company will set up a 4x800 MW ultra-supercritical thermal power plant in the state, with a capex of Rs 48,000 crore.

  • Apollo Tyres falls as its net profit declines 13.3% YoY to Rs 258 crore in Q2FY26, hit by restructuring costs for its Netherlands subsidiary. Revenue rises 6.1% to Rs 6,831 crore, led by strong growth in Asia-Pacific, Middle East & Africa and Europe. It appears in a screener of stocks with PE higher than the industry PE.

  • Dollar Industries is rising as its net profit grows 32.7% YoY to Rs 35.2 crore in Q2FY26, helped by inventory destocking and lower finance costs. Revenue increases 5.6% YoY to Rs 471.9 crore, driven by higher sales in the thermals segment during the quarter. The company appears in a screener of stocks with improving book value per share over the past two years.

  • Reports suggest that 5.2 crore shares (0.4% equity) of ITC, amounting to Rs 2,074.5 crore, have changed hands in a block deal.

  • LG Electronics India is falling as its Q2FY26 net profit declines 27.3% YoY to Rs 389.4 crore due to higher inventory, employee benefits and finance costs. However, revenue grows 1.2% YoY to Rs 6,253.8 crore, led by an improvement in the home entertainment segment. It shows up in a screener of stocks with high market capitalisation and low public shareholding.

  • Godrej Consumer Products (GCPL) acquires men’s grooming brand Muuchstac in a Rs 450 crore deal to strengthen its presence in the category. GCPL added that the brand’s promoters will continue to run the business.

  • Aurobindo Pharma receives Form 483 with five observations from the US FDA following an inspection at its subsidiary, Apitoria Pharma's, active pharmaceutical ingredient (API) manufacturing facility, Unit-1.

  • India’s WPI inflation slips into the negative territory at –1.2% in October, compared to 0.1% in September. The decline reflects lower prices for key primary commodities and manufacturing inputs, resulting in the softest price movement in three months.

  • Bharat Dynamics is rising sharply as its Q2FY26 net profit surges 76.2% YoY to Rs 215.9 crore, owing to inventory destocking. Revenue jumps 101% YoY to Rs 1,267.6 crore, driven by an improvement in order execution. The company bags a Rs 2,095.7 crore order from the Ministry of Defence to supply Invar anti-tank missiles to the Indian Army.

  • Pine Labs' shares debut on the bourses at a 9.5% premium to the issue price of Rs 221. The Rs 3,899.9 crore IPO received bids for 2.5 times the total shares on offer.

  • Relaxo Footwears is falling as its net profit declines 1.6% YoY to Rs 36.2 crore in Q2FY26. Revenue decreases 7.5% YoY to Rs 628.5 crore, driven by delayed purchases due to the implementation of GST 2.0 norms. The company appears in a screener of stocks outperforming their industry price change in the quarter.

  • Macquarie maintains a 'Neutral' rating on Voltas with a target price of Rs 1,358. The brokerage notes that the unitary cooling products (UCP) segment posted a loss in Q2, with cost under-absorption at new facilities weighing on EBIT. Despite soft demand, the company gained market share QoQ. Project business growth was supported by strong domestic execution. It adds that demand recovery will remain critical for future growth.

  • Jubilant Foodworks is rising sharply as its Q2FY26 net profit surges 2.9x YoY to Rs 186 crore, helped by lower finance costs and a one-time gain of Rs 84.7 crore from the sale of a Russian subsidiary. Revenue grows 18.7% YoY to Rs 2,355.4 crore, driven by new store additions and an improvement in Domino's India. It features in a screener of stocks with increasing revenue for the past three quarters.

  • Hero MotoCorp rises as its Q2FY26 net profit jumps 23% YoY to Rs 1,308.9 crore, owing to inventory destocking. Revenue increases 16.2% YoY to Rs 12,458.8 crore, led by improvements in scooter and motorcycle sales. It appears in a screener of stocks near their 52-week highs with significant volumes.

  • Voltas' Q2FY26 net profit plunges 74.4% YoY to Rs 34.3 crore due to higher marketing expenses. Revenue decreases 10.4% YoY to Rs 2,347.3 crore, driven by lower sales in the unitary cooling products segment during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Eicher Motors' Q2FY26 net profit grows 24.5% YoY to Rs 1,369.5 crore, helped by lower inventory expenses. Revenue jumps 41.3% YoY to Rs 6,522.5 crore, supported by an improvement in two-wheeler sales. It features in a screener of stocks with high momentum scores.

  • Nifty 50 was trading at 25,798.75 (-80.4, -0.3%), BSE Sensex was trading at 84,262.69 (-216.0, -0.3%), while the broader Nifty 500 was trading at 23,778.25 (-37.8, -0.2%).

  • Market breadth is in the red. Of the 2,107 stocks traded today, 959 were in the positive territory and 1,067 were negative.

Riding High:

Largecap and midcap gainers today include Ipca Laboratories Ltd. (1,479.60, 13.6%), Muthoot Finance Ltd. (3,725.60, 9.8%) and Jubilant Foodworks Ltd. (615.30, 7.3%).

Downers:

Largecap and midcap losers today include Supreme Industries Ltd. (3,709.80, -3.2%), Infosys Ltd. (1,502.80, -2.5%) and SRF Ltd. (2,839.10, -2.5%).

Volume Rockets

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

Top high volume gainers on BSE included Ipca Laboratories Ltd. (1,479.60, 13.6%), Muthoot Finance Ltd. (3,725.60, 9.8%) and Aether Industries Ltd. (838.90, 8.5%).

Top high volume losers on BSE were BASF India Ltd. (4,413.20, -2.4%), Bombay Burmah Trading Corporation Ltd. (1,830.70, -2.3%) and Cera Sanitaryware Ltd. (5,617, -1.2%).

Sagility Ltd. (53.28, 5.6%) was trading at 27.8 times of weekly average. Star Health and Allied Insurance Company Ltd. (522.45, 4.3%) and Jubilant Foodworks Ltd. (615.30, 7.3%) were trading with volumes 9.3 and 8.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

12 stocks made 52 week highs, while 11 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Adani Ports & Special Economic Zone Ltd. (1,512.70, 0.9%), Adani Energy Solutions Ltd. (1,023.85, 0.2%) and Ashok Leyland Ltd. (148.26, -1.4%).

Stocks making new 52 weeks lows included - Bata India Ltd. (1,027.10, -1.8%) and SKF India Ltd. (2,045, -0.1%).

16 stocks climbed above their 200 day SMA including Ipca Laboratories Ltd. (1,479.60, 13.6%) and Aether Industries Ltd. (838.90, 8.5%). 15 stocks slipped below their 200 SMA including Premier Energies Ltd. (997.90, -6.0%) and Aditya Birla Sun Life AMC Ltd. (733.95, -2.3%).

 
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The Baseline
14 Nov 2025
What’s new on Trendlyne: High performing baskets, AI assistants and more

We’ve been busy with some big new launches on Trendlyne, which will make your trading better and easier. Here’s what’s new!

1. Trendlyne Baskets

Three new high-performing baskets have launched on Starfolio, curated for different investing styles.

  • Momentum 7: for those who love speed and growth, built using our upgraded Momentum score.
  • Dividend 7: steady set of high-performing, dividend-paying stocks.
  • Select 5: our signature basket of five standout stocks for long-term investing.

You can explore all three Trendlyne Baskets here.

2. Import your Groww portfolio

No more manual uploads! You can now directly import your Groww portfolio into Trendlyne with a couple of clicks. Track, analyze and manage your holdings seamlessly.

Read the quick FAQ here.

3. Individual Superstar alerts

Follow your favorite superstar, and never miss their next move. You can now set instant alerts for individual or institutional superstars so you follow just your preferred investors.

How to set it up:

A. From the Superstar portfolio section, click Add All Superstar Alerts and then select Individual Superstar Alerts or click on the bell icon in the table.

B. From an Individual superstar page

Click Add Individual Alert, and use the toggle to enable or disable alerts for that superstar (for example, Rakesh Jhunjhunwala and Associates’s portfolio).

4. Screener: Easy mode

Discover great stocks in seconds! No complex setup needed. Our new easy stock screener lets you filter using fundamental, technical, and comparative parameters in drop down mode, all in one screen.

You can access the Screener Easy Mode using this link.

5. Follow trades by US politicians

Curious what US lawmakers are buying and selling? Trendlyne’s Politician trades feature lets you follow stock trades by political pros like Nancy Pelosi, Tommy Tuberville, Josh Gottheimer, and more.

You can access the Politician Trades using the following link.

6. SmartOptions now supports Zerodha & Upstox

Great news for F&O traders – SmartOptions is now integrated with Zerodha and Upstox. Connect your broker, sync positions, analyze and execute orders directly from SmartOptions.

Manage your connected brokers here.

Broker Connect FAQs here.

7. Ask AI to optimise your strategy

We are really excited about this one. Meet your new AI strategy assistant on the SmartOptions Strategy Builder.

Once you select a strategy, click Ask AI - Optimise Your Strategy and type your query. The AI gives fast, personalized insights for both simple and complex setups.

Here’s what it can do:

  • Create: Suggests strategy ideas for your market view.
  • Analyze: Explains risks, Greeks, and break-even points in plain English.
  • Optimize: Recommends strike, margin, and timing tweaks.
  • Hedge: Sets risk boundaries and helps you protect positions.
 
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Trendlyne Marketwatch
13 Nov 2025
Market closes flat, IRCTC's Q2 net profit rises 11% YoY
By Trendlyne Analysis

Nifty 50 closed at 25,879.15 (3.4, 0.0%), BSE Sensex closed at 84,478.67 (12.2, 0.0%) while the broader Nifty 500 closed at 23,816 (-20.9, -0.1%). Market breadth is in the red. Of the 2,587 stocks traded today, 1,065 were in the positive territory and 1,481 were negative.

Indian indices closed flat after erasing the gains in the afternoon session. The Indian volatility index, Nifty VIX, rose 0.4% and closed at 12.2 points. India's CPI inflation fell to a record low of 0.3% in October, down from 1.5% in September. The decline was primarily driven by record-low food prices and the recent GST cuts, which helped lower prices across multiple sectors.

Nifty Midcap 100 & Nifty Smallcap 100 closed in the red. BSE Consumer Durables and S&P BSE SME IPO 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 5.9%.

Asian indices closed mixed, while European indices are trading higher except UK’s FTSE 100 index. US index futures traded lower, indicating a cautious start to the trading session. US President Donald Trump on Wednesday night signed a funding package to reopen the federal government, officially ending the longest shutdown in US history. Meanwhile, SoftBank sold its entire $5.8 billion stake in Nvidia, fueling renewed concerns over an AI-driven market bubble.

  • Relative strength index (RSI) indicates that stocks like Shriram Finance, 3M India, Asian Paints, and UPL are in the overbought zone.

  • Ipca Laboratories' Q2FY26 net profit jumps 23.1% YoY to Rs 282.6 crore, helped by lower inventory and finance costs. Revenue grows 8.5% YoY to Rs 2,584.4 crore, led by improvements in the formulations and active pharmaceutical ingredient (API) segments. It appears in a screener of stocks with rising net cash flow and cash from operating activities.

  • Alkem Laboratories touches a new 52-week high of Rs 5,868 as its Q2FY26 net profit grows 11.1% YoY to Rs 765.1 crore. Revenue jumps 15.7% YoY to Rs 4,104.7 crore, supported by improvements in the domestic and international markets. It features in a screener of stocks with improving RoE over the past two years.

  • Galaxy Surfactants is falling as its net profit declines 21.5% YoY to Rs 66.5 crore in Q2FY26. However, revenue increases 24.8% YoY to Rs 1,326.2 crore, driven by volume growth in performance surfactants and speciality care segments during the quarter. The company appears in a screener of stocks with a PEG ratio lower than the Industry average.

  • India's CPI inflation falls to a record low of 0.3% in October, down from 1.5% in September. The decline was primarily driven by record-low food prices and the recent Goods and Services Tax (GST) cuts, which helped lower prices across multiple sectors.

  • Indian Railway Catering & Tourism Corp's Q2FY26 net profit rises 11.1% YoY to Rs 342 crore. Revenue increases 7.7% YoY to Rs 1,146 crore, driven by higher sales in the internet ticketing, catering, rail neer and tourism segments during the quarter. The company appears in a screener of stocks with improving book value per share over the past two years.

  • Data Patterns rises as its net profit surges 62.5% YoY to Rs 49.2 crore, driven by strong order execution, including two significant EW product orders. Revenue jumps 238% YoY to Rs 307.5?crore, driven by increased production and key deliveries in radar, EW, and avionics systems. It appears in a screener of companies with high TTM EPS growth.

  • Cohance Lifesciences plunges to its 52-week low of Rs 621.2 as its net profit falls 50.8% YoY to Rs 71 crore in Q2FY26 due to higher investment costs and acquisition integration expenses. Revenue declines 8% to Rs 555.6 crore due to destocking of two commercial molecules, delayed orders, and the shutdown of the Nacharam plant. It appears in a screener of stocks with PE higher than the industry PE.

  • Reports suggest that 87 lakh shares (2.3% equity) of Ather Energy, amounting to Rs 541.6 crore, have changed hands in a block deal. National Investment and Infrastructure Fund II (NIIF II) is the likely seller in this deal.

  • Alembic Pharmaceuticals rises as it receives approval from the US FDA for its abbreviated new drug application (ANDA) for Dexlansoprazole delayed-release capsules. The capsules are a therapeutic equivalent to the reference listed drug (RLD), Dexilant delayed-release capsules, of Takeda Pharmaceuticals, used to treat stomach acid. The drug has an estimated market size of $285 million for the year ended September 2025, according to IQVIA.

  • Entero Healthcare Solutions rises as its net profit surges 41% YoY to Rs 37 crore, driven by focus on higher-margin MedTech acquisitions and lower employee expenses. Revenue increases 21% to Rs 1,571 crore, fueled by organic growth and strategic acquisitions in specialty pharma. It appears in a screener of companies with high TTM EPS growth.

  • Lemon Tree Hotels is falling as its Q2FY26 net profit misses Forecaster estimates by 21.9% despite growing 16.8% YoY to Rs 34.6 crore. Revenue increases 7.7% YoY to Rs 306.3 crore, driven by strong demand recovery, improved occupancy and average room rates during the quarter. The company appears in a screener of stocks outperforming their industry price change in the quarter.

  • CLSA maintains an 'Outperform' rating on Hyundai Motor India with a target price of Rs 2,853. The brokerage notes that the company aims to regain about 15% market share in the domestic passenger vehicle segment. It targets an export volume mix of 30% and plans to maintain EBITDA margins in the 11–14% range. The company has outlined a capex plan of Rs 45,000 crore for FY26–30.

  • Honasa Consumer is rising sharply as it posts a net profit of Rs 39.2 crore in Q2FY26 compared to a net loss of Rs 18.6 crore in Q2FY25, owing to lower raw material expenses. Revenue jumps 15.8% YoY to Rs 558.2 crore, driven by growth in the e-commerce, modern trade and general trade segments. It appears in a screener of stocks with prices above short, medium, and long-term moving averages.

  • Sansera Engineering rises as its net profit surges 38% YoY to Rs 71.4 crore on reduced finance costs and higher other income in Q2FY26. Revenue increases 8% to Rs 825.2 crore, driven by strong momentum in the aerospace and off-road & agriculture segments. It appears in a screener of stocks with PEG lower than the industry PEG.

  • Deepak Nitrite falls to its 52-week low of Rs 1,701.3 as its Q2FY26 net profit declines 38.8% YoY to Rs 118.8 crore due to higher inventory, employee benefits and finance costs. Revenue decreases 6.4% YoY to Rs 1,921.8 crore, caused by reductions in the advanced intermediaries and phenolics segments. It shows up in a screener of stocks with low Piotroski scores.

  • Moody’s Ratings expects India’s economy to grow at 6.5% by 2027, with CPI inflation rising from 2.8% in 2025 to around 4%. The agency attributes the growth outlook to strong infrastructure investment and healthy consumption, while noting continued caution in private-sector capital expenditure.

  • Pfizer is rising as its Q2FY26 net profit increases 19.4% YoY to Rs 189 crore, helped by lower raw materials and employee benefits expenses. Revenue grows 8.3% YoY to Rs 684.2 crore during the quarter. It features in a screener of stocks with strong dividend yields in FY25 and healthy growth over the past five years.

  • Indraprastha Gas is rising as its Q2FY26 revenue grows 8.6% YoY to Rs 4,118.3 crore, helped by improvements in compressed natural gas (CNG) and domestic piped natural gas (PNG) sales. However, net profit declines 15.1% YoY to Rs 386.3 crore due to higher inventory, excise duty, employee benefits, finance, and depreciation & amortisation expenses. It appears in a screener of stocks where FIIs are increasing their shareholdings.

  • Cochin Shipyard is falling as its net profit plunges 43.1% YoY to Rs 107.5 crore in Q2FY26 due to higher subcontracting and finance costs. Revenue decreases 2.2% YoY to Rs 1,118.6 crore, driven by lower sales in the shipbuilding segment during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Elara Securities maintains a 'Sell' rating on Asian Paints with a higher target price of Rs 2,600. The brokerage notes that the company’s Q2 revenue rose 6.3% YoY, exceeding estimates. Decorative volumes grew 10.9%, marking the company’s first market share gain in two years. New product launches accounted for 15% of Q2 revenue. Elara expects mid-single-digit value growth in FY26, but notes that the volume-value gap continues to cap upside potential.

  • KNR Construction is falling sharply as its Q2FY26 net profit plunges 76.3% YoY to Rs 104.7 crore. Revenue declines 68.7% YoY to Rs 654 crore, caused by a slowdown in project execution and a high base effect in Q2FY25 due to one-off gains from asset sales. It shows up in a screener of stocks with decreasing net profit over the past four quarters.

  • Prestige Estates Projects is rising as its net profit surges 124% YoY to Rs 430.3 crore in Q2FY26, helped by inventory destocking. Revenue increases 5.5% YoY to Rs 2,431.7 crore, driven by higher demand for residential and commercial properties across markets like Bengaluru, NCR, and Mumbai. The company appears in a screener of stocks with improving book value per share over the past two years.

  • Lloyds Metals & Energy rises as its Q2FY26 net profit jumps 90% YoY to Rs 572.4 crore, helped by inventory destocking and a tax return of Rs 188.8 crore. Revenue surges 152.2% YoY to Rs 3,706.8 crore, led by improvements in the mining, steel & related products, and mine developer & operator (MDO) operations segments. It appears in a screener of stocks with decreasing promoter pledges.

  • Tata Steel is rising sharply as its Q2FY26 net profit surges 3.7x YoY to Rs 3,101.8 crore, fueled by returns for provisions and lower raw materials and finance costs. Revenue jumps 8.3% YoY to Rs 59,052.8 crore, supported by improvements in the Indian, Dutch, South East Asian, and the rest of the world operations. It appears in a screener of stocks with expanding profit margins on a QoQ and trailing twelve-month (TTM) basis.

  • Nifty 50 was trading at 25,814.35 (-61.5, -0.2%), BSE Sensex was trading at 84,405.03 (-61.5, -0.1%), while the broader Nifty 500 was trading at 23,797.45 (-39.5, -0.2%).

  • Market breadth is in the green. Of the 2,180 stocks traded today, 1,194 were on the uptick, and 924 were down.

Riding High:

Largecap and midcap gainers today include Ashok Leyland Ltd. (150.41, 5.5%), Asian Paints Ltd. (2,879.40, 4.0%) and Berger Paints (India) Ltd. (577.90, 3.2%).

Downers:

Largecap and midcap losers today include Eternal Ltd. (297.75, -3.6%), Lloyds Metals & Energy Ltd. (1,271.30, -3.5%) and Swiggy Ltd. (383.10, -3.2%).

Movers and Shakers

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

Top high volume gainers on BSE included Data Patterns (India) Ltd. (3,003.40, 7.6%), PG Electroplast Ltd. (559.45, 6.0%) and Ashok Leyland Ltd. (150.41, 5.5%).

Top high volume losers on BSE were Cohance Lifesciences Ltd. (629.10, -8.8%), Endurance Technologies Ltd. (2,691.70, -7.7%) and Lemon Tree Hotels Ltd. (155.19, -4.9%).

Ramkrishna Forgings Ltd. (556.10, 3.3%) was trading at 34.4 times of weekly average. Aether Industries Ltd. (773.30, 4.0%) and Honasa Consumer Ltd. (289.40, 2.6%) were trading with volumes 30.5 and 18.6 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 5 stocks hit their 52 week lows.

Stocks touching their year highs included - Adani Ports & Special Economic Zone Ltd. (1,499, -0.5%), Adani Energy Solutions Ltd. (1,021.40, 2.0%) and Ashok Leyland Ltd. (150.41, 5.5%).

Stocks making new 52 weeks lows included - Deepak Nitrite Ltd. (1,722.10, -0.2%) and KNR Constructions Ltd. (170.18, -3.8%).

21 stocks climbed above their 200 day SMA including Century Plyboards (India) Ltd. (799.45, 4.7%) and Aether Industries Ltd. (773.30, 4.0%). 14 stocks slipped below their 200 SMA including Cochin Shipyard Ltd. (1,707.30, -4.7%) and Eris Lifesciences Ltd. (1,538, -2.4%).

 
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The Baseline
13 Nov 2025
By Divyansh Pokharna

Global stock markets are racing toward record levels, but not all gains are created equal. From Wall Street to Tokyo and Frankfurt to Mumbai, each market offers a different story.

Most major global indices are now near their 52-week highs. Their one-year and quarterly performances however, show some differences. The S&P 500 and Japan’s Nikkei 225 have surged on technology and policy tailwinds, while India’s Nifty 500, despite strong economic growth, has posted the weakest one-year return among peers.

Some markets have lost steam. Hong Kong’s Hang Seng and Germany’s DAX, though strong over the past year, have flattened recently as growth momentum slowed. 

The Financial Stability Board (FSB), which monitors global financial risks, recently cautioned that asset prices may be rising faster than fundamentals. FSB Chairman Andrew Bailey said, “Valuations may now be out of step with the uncertain economic and geopolitical environment, leaving markets vulnerable to sudden and disorderly corrections.”

To make sense of the divergence between markets, we look at global indices through three lenses — their one-year performance, recent quarterly momentum and current P/E ratios. This helps reveal growing, rebounding and overvalued markets. A strong one-year gain can look exciting, but if the recent quarter is flat, it might suggest a slowing rally.

Tech and policy fuel the market leaders

The United States has been the heartbeat of the global equity rally. The S&P 500 has risen 14% over the past year and another 7% in the last quarter. This is largely thanks to excitement around artificial intelligence and the outsized performance of a few mega-cap technology firms in the index. The Nasdaq 100 (US Tech 100) gained 22% annually and 10% quarterly, as investors doubled down on technology leaders. 

The ‘Magnificent 7’ — Apple, Microsoft, Alphabet, Amazon, NVIDIA, Meta, and Tesla — together contributed nearly 60% of the S&P 500’s yearly advance, according to recent estimates. 

Some analysts warn that valuations of big tech have run too far. Morgan Stanley CEO Ted Pick recently warned of a possible “10–15% drawdown” in global equities due to overheating valuations, suggesting investors remain alert to correction risks.

Across the Pacific, Japan’s Nikkei 225 has been equally impressive, surging 29% over the past year and 22% in the recent quarter — showing that most of its gains came just in the last few months. 

The sharp quarterly rise was fueled by a record-breaking rally in technology and export-oriented stocks, with the index posting its best monthly gain in three decades in October. Investors also cheered the election of Sanae Takaichi as Japan’s new leader, which boosted hopes for fresh government spending and continued monetary support.

A weak yen added more momentum to the rally by making Japanese exports cheaper abroad, lifting profits for major names like Toyota, Sony, and chip equipment makers. With strong tech momentum, steady policy support, and foreign investors returning, Japan’s market ended the year on a high note, marking one of the world’s biggest rallies.

Taiwan has followed a similar path. The Taiwan Weighted Index climbed 19% over the past year and 16% in the last quarter, suggesting again that most of its gain came recently. The momentum is largely powered by semiconductor exports and the island’s central role in the global AI chip supply chain.

Australia’s S&P ASX 200, up 6% annually and 0.2% quarterly, sits mid-pack among global peers. Its performance reflects steady commodity exports and stable financial sector earnings. Iron ore prices have stayed firm, benefiting miners like BHP and Rio Tinto, while strong bank profits have cushioned the index against global volatility. With valuations around 20X earnings, Australian equities appear balanced — neither overheated nor undervalued.

Markets slowing after a strong year

Hong Kong and mainland China are moving at different paces. Hong Kong’s Hang Seng rose 29% over the past year and 7% in the last quarter. The rally was driven by Chinese government stimulus and a recovery in tech names like Tencent and Alibaba. However, ongoing problems in the property market have started to dampen investor confidence.

China’s Shanghai Composite, on the other hand, maintained steadier momentum — rising 16% over the year and 10% in the last quarter. The gains came as policymakers stepped up infrastructure spending and eased credit conditions to support manufacturing and industrial activity. Still, at around 11X earnings, valuations remain low, and investors are cautious about whether these measures can deliver a sustained recovery.

Germany’s DAX has also delivered strong yearly gains, bouncing back from an energy crisis. But it has been flat in the recent quarter as manufacturing growth slowed. The transition to green energy and rising business costs have also tempered investor enthusiasm. At around 17.5X P/E, the index looks fairly valued, but lacks clear short-term growth drivers.

In contrast, the UK’s FTSE 100 has been more stable. It posted solid one-year and quarterly gains, reflecting resilience across large-cap sectors such as energy, banking, and mining. With valuations around 19X earnings and proximity to its yearly high, the FTSE 100 appears to be holding its ground better than many of its European neighbors. UK’s weak GDP growth however, may limit the upside.

India’s steady, high-priced growth

The Nifty 500 has been the clear laggard among major global indices — up only 5.5% over the past year and 4.6% in the latest quarter. The recent quarterly uptick came after a weak start to 2025, helped by better-than-expected Q2 results, easing inflation, and the government’s GST cuts that boosted consumption and corporate margins.

Still, the broader one-year performance remains soft due to foreign outflows, tariff pressures, and geopolitical risks. Foreign institutional investors (FIIs) turned net sellers in 2025, pulling out nearly Rs 2.6 lakh crore YTD, even as steady SIP-led domestic inflows provided some support to the market. Meanwhile, the US raised tariffs on Indian goods to 50%, weighing on exports and overall sentiment.

Cross-border strikes after terror incidents increased risk perception and led to short-term foreign outflows, putting more strain on valuations. Moreover, India missed out on the AI-driven rally that powered developed markets, given its relatively limited exposure to high-growth tech.

At a lofty 24X PE—one of the highest in the world—valuations have capped returns. Despite this, Goldman Sachs has upgraded India from “neutral” to “overweight,” reversing its October 2024 downgrade.

Analysts believe the year-long slump in earnings forecasts has now bottomed out, as September-quarter results were stronger than expected. Goldman pointed to growth-friendly measures such as GST cuts, easy liquidity, and RBI rate reductions, adding that “India’s high valuation is now justified by robust domestic investment flows and policy support.