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Trendlyne Marketwatch
21 Jul 2025, 01:33PM
Market trades higher, Sona BLW forms JV with Chinese firm JNT to manufacture automotive solutions
By Trendlyne Analysis

Nifty 50 was trading at 25,046.15 (77.8, 0.3%) , BSE Sensex was trading at 82,062.59 (304.9, 0.4%) while the broader Nifty 500 was trading at 23,356.20 (81.1, 0.4%). Market breadth is in the red. Of the 2,469 stocks traded today, 1,132 showed gains, and 1,291 showed losses.

Nifty 50 opens flat, taking cues from the pre-opening session. Indian indices closed in the red on Friday. FIIs bought shares worth Rs 374.7 crore, while DIIs bought Rs 2,103.5 crore in Indian equities on the same day.

Nifty Smallcap 100 and Nifty Midcap 100 open flat, tracking the benchmark index. Nifty India Defence opens lower, while Nifty Media opens higher. Investors look ahead to Q1FY26 earnings announcements from companies like CIE Automotive India, Havells India, IDBI Bank and Ultratech Cement today.

Most European indices closed mixed on Friday. Major Asian indices are trading with varied trends. US indices closed mixed on Friday, with the Dow Jones closing 0.3% lower and the S&P 500 closing flat after President Trump reportedly demanded a minimum tariff of 15-20% in any trade deal with the European Union.

  • AU Small Finance Bank falls sharply as its Q1FY26 gross and net NPAs grow 169 bps and 25 bps YoY, respectively. However, the bank's net profit grows 15.6% YoY to Rs 580.9 crore. Revenue jumps 20.3% YoY, led by improvements in the treasury operations, retail and corporate banking segments.

  • Tilaknagar Industries is rising as its board schedules a meeting on July 23 to consider raising funds through a rights issue, Qualified Institutions Placement (QIP), or other methods.

  • Vijay Kedia sells a 1% stake in Precision Camshafts in Q1FY26. He now holds a 1.1% stake in the company.

  • BSE gains over 3% following reports that SEBI has officially lifted restrictions on Jane Street’s access to Indian securities markets. The clearance came after Jane Street complied with SEBI’s directive to deposit Rs 4,844 crore in alleged “unlawful gains” into an escrow account by the July 14 deadline. Despite the approval, exchanges are expected to closely monitor the firm's market activities.

  • B L Kashyap & Sons rises as it secures an order worth Rs 157.2 crore from Embassy Manyata business park promoters in Bengaluru to construct an office building.

  • Ircon International is rising as it secures an order worth Rs 1,113 crore from the Mumbai Metro Authority. The project involves the design and commissioning of power supply and traction systems for Metro lines 5 and 6.

  • Anthem Biosciences’ shares debut on the bourses at a 26.9% premium to the issue price of Rs 570. The Rs 3,395 crore IPO received bids for 63.9 times the total shares on offer.

  • Jeet Adani, Director of the Adani Airports Division, states that the Adani Group will invest Rs 96,000 crore in its airport operations over the next five years, focusing heavily on infrastructure enhancements and real estate development. A significant portion of this investment will go toward the Navi Mumbai and Mumbai airport projects, reinforcing the group's commitment to expanding its domestic aviation footprint.

  • Sona BLW is rising as it signs a joint venture (JV) with Chinese company Jinnaite Machinery (JNT). The JV will manufacture and supply driveline systems and components to automotive original equipment manufacturers (OEMs) in China and globally. Sona BLW will invest $12 million, while JNT will contribute $8 million in assets and business to the joint venture in the first phase.

  • Bandhan Bank is falling as its net profit plunges 65% YoY to Rs 372 crore in Q1FY26 due to rise in provisions and contingencies. However, revenue increases 2.3% YoY to Rs 5,475.6 crore, driven by improvements in the treasury, retail and wholesale banking segments during the quarter. The bank's asset quality deteriorate as its gross and net NPAs expands by 73 bps and 21 bps YoY, respectively.

  • Reliance Power's Q1FY26 revenue falls 5.3% YoY to Rs 1,885.5 crore due to lower revenue realisation from power sales. The company reported a net profit of Rs 44.7 crore, compared to a loss in the same quarter last year, driven by lower interest expense. The company appears in a screener of stocks where foreign institutional investors (FIIs) are increasing their stake.

  • Arun Misra, CEO & Whole-Time Director of Hindustan Zinc, cites tariff uncertainty and weak Chinese demand as key pressures on zinc prices, which he expects to stay around $2,650–2,850/tonne. He forecasts silver prices to reach $41–42/oz by February 2026. The company will outline plans to scale up to 2 MT capacity by September and is exploring rare earth mineral blocks, with revenue anticipated in 4–5 years.

  • Union Bank of India is falling as its Q1FY26 net profit misses Forecaster estimates by 5.3% despite growing 21.6% YoY to Rs 4,427.9 crore, driven by a 39.6% decrease in provisions. Revenue grows 3.3% YoY to Rs 32,343.9 crore, helped by improvements in the treasury operations and retail banking segments. The bank's asset quality improves as its gross and net NPAs decline 102 bps and 28 bps YoY, respectively.

  • Reliance Industries' Q1FY26 net profit grows 78.3% YoY to Rs 26,994 crore, led by lower raw materials costs. Revenue jumps 9.7% YoY to Rs 2.6 lakh crore, driven by improvements in the retail and digital services segments. It features in a screener of stocks with increasing profits for the past four quarters.

  • ICICI Bank is rising as its net profit grows 15.5% YoY to Rs 12,768.2 crore in Q1FY26. Revenue increases 10.1% YoY to Rs 42,946.9 crore, driven by improvements in the treasury and wholesale banking segments during the quarter. The bank's asset quality improves as its gross and net NPAs declines by 48 bps and 2 bps YoY, respectively.

  • HDFC Bank's Q1FY26 net profit rises 12.2% YoY to Rs 18,155.2 crore. Revenue increases 6.1% YoY to Rs 77,470.2 crore, driven by improvements in the treasury and wholesale banking segments during the quarter. The bank's asset quality deteriorates as its gross and net NPAs expands by 7 bps and 8 bps YoY, respectively.

  • Nifty 50 was trading at 24,956.45 (-12.0, -0.1%), BSE Sensex was trading at 81,892.62 (134.9, 0.2%) while the broader Nifty 500 was trading at 23,248.05 (-27.1, -0.1%).

  • Market breadth is horizontal. Of the 2,060 stocks traded today, 968 were in the positive territory and 1,000 were negative.

Riding High:

Largecap and midcap gainers today include Lloyds Metals & Energy Ltd. (1,526, 3.6%), Jindal Stainless Ltd. (700.90, 3.6%) and UPL Ltd. (709, 3.2%).

Downers:

Largecap and midcap losers today include Au Small Finance Bank Ltd. (751.10, -5.5%), Reliance Industries Ltd. (1,428.50, -3.2%) and IndusInd Bank Ltd. (843.70, -3.0%).

Movers and Shakers

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

Top high volume gainers on BSE included Mastek Ltd. (2,698, 8.2%), KIOCL Ltd. (308.65, 6.2%) and Hatsun Agro Products Ltd. (996.50, 5.0%).

Top high volume loser on BSE was Au Small Finance Bank Ltd. (751.10, -5.5%).

Tata Investment Corporation Ltd. (6,850, 4.7%) was trading at 20.9 times of weekly average. MMTC Ltd. (71.13, 4.5%) and Amara Raja Energy & Mobility Ltd. (1,012.95, 3.7%) were trading with volumes 6.9 and 5.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

11 stocks overperformed with 52 week highs,

Stocks touching their year highs included - EID Parry (India) Ltd. (1,173.80, 1.9%), L&T Finance Ltd. (211.61, 4.2%) and Muthoot Finance Ltd. (2,699.80, 1.5%).

9 stocks climbed above their 200 day SMA including Mastek Ltd. (2,698, 8.2%) and KIOCL Ltd. (308.65, 6.2%). 17 stocks slipped below their 200 SMA including Mangalore Refinery And Petrochemicals Ltd. (139.83, -6.3%) and Atul Ltd. (6,770, -2.5%).

 
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The Baseline
18 Jul 2025
Five Interesting Stocks Today - July 18, 2025
By Trendlyne Analysis

1. AWL Agri Business:

This FMCG company, formerly known as Adani Wilmar, jumped 6% on Thursday after the Adani Group announced the sale of a 20% stake in the company to Wilmar International. With this stake purchase, Singapore-based Wilmar becomes the majority shareholder in the company. Adani Group plans to exit entirely by selling its remaining 10% stake to “a set of pre-identified” investors.

In Q1 FY26, the company reported YoY revenue growth of 20%, led by strong pricing in the edible oils segment. However, it missed Forecaster estimates by 5%, mainly due to lower volumes and exit from the government rice export business.

Higher input costs, especially for palm oil, weighed on profitability. Net profit declined 24% YoY in Q1, and EBITDA margin dropped to 2.1%. Addressing this, MD & CEO Angshu Mallick said, “We expect some improvement in demand starting July, with the onset of the festive season and easing raw material cost pressures, especially in palm.”

The company operates across three key segments—Edible Oils, Industry Essentials, and Food & FMCG. Although the edible oil segment brings in 80% of revenue, it contributed only 50% to total profit, highlighting its low-margin nature. In contrast, the Industry Essentials segment, which includes castor oil and oleochemicals, delivered 28% of profits from just 13% of sales, aided by near-full capacity utilisation. The Food & FMCG segment also added 21% to profits, despite accounting for only 8% of sales in Q1.

AWL Agri reported fairly substantial retail expansion, directly reaching customers via 8.7 lakh outlets. It saw 26% YoY growth in rural areas and 11% in urban markets. Mallick expects the Food & FMCG segment to “continue to grow in double digits given the expansion in product pipeline and distribution.” He adds that the company aims to generate Rs 10,000 crore in revenue from this segment by FY27, with rural growth playing a key role. 

ICICI Securities maintains a ‘Buy’ rating on the stock with a higher target price of Rs 360. The brokerage is optimistic about the company’s transition from a commodity-driven business to a more stable and profitable FMCG model. However, it also flags volatility in raw material prices and execution risks in scaling the branded food portfolio as potential headwinds.

2. Allied Blenders & Distillers (ABD):

This breweries & distilleries company rose by 8.1% over the past week. This surge followed the Maharashtra government's July 15th announcement of plans to issue 328 new wine shop licenses, a move set to increase licensed liquor outlets by 19% (from 1,713). This policy shift, which aims to boost state revenue, is expected to generate an additional Rs 14,000 crore annually in excise revenue. Allied Blenders & Distillers (ABD), having opened its second Maharashtra distillery in January and as India's third-largest Indian made Foreign Liquor (IMFL) company, is set to significantly benefit.

Despite Maharashtra's growing population, the number of licensed liquor outlets has remained static since the 1970s, leading to just 1.5 shops per lakh people—far below the national average of six. However, implementing changes faces significant challenges due to cultural opposition and bar association protests over hiked excise duties, creating an intense situation for these policy reforms.

For FY25, the company reported a 6.2% increase in revenue, driven by growth in its Prestige & Above (luxury) portfolio. Trendlyne Forecaster projects a 12.3% revenue growth in FY26, attributing it to the company's focus on expanding reach to other countries and premiumization efforts. The stock has also appeared on a screener of stocks which have outperformed their industry over the past month.

Alok Gupta, the Managing Director of ABD, expressed confidence in the company's future, stating, "FY26 will be a year of momentum, backed by positive consumer sentiment, stable input costs, and a supportive policy landscape. Growth in the super premium to luxury segment will be driven by rising disposable incomes and demand for experience-based consumption.” The anticipated UK Free Trade Agreement (FTA) may also reduce Scotch import duties.

According to Trendlyne’s Forecaster, 5 analysts have a consensus recommendation of “Strong Buy”, with an average target price of Rs 516.6. ICICI Securities projects moderate volume growth of about 3% CAGR for the company's mass premium segment from FY26-27. Realization growth, however, is expected to come from price increases.

3. Computer Age Management Services (CAMS):

Thismutual fund services company rose 2.9% on July 15 after Motilal Oswalraised its target price to Rs 5,000 and reiterated its ‘buy’ rating. CAMS is a prominent tech services player in the finance space – it handles the back-end operations for mutual funds and also offers digital services in insurance, payments, and investor verification (KYC).

India’s mutual fund industry hasgrown rapidly, from around Rs 25 lakh crore in mid-2020 to over Rs 74 lakh crore by June 2025, and is projected to cross Rs 130 lakh crore by FY30. As the main registrar that handles about 68% of industry assets, CAMS is likely to benefit from this growth. Higher mutual fund volumes means more transactions, investor accounts, and servicing needs, which would support steady revenue growth across CAMS’ core and allied services.

InFY25, its revenue grew 25.3% to 1,475.1 crore, while its net profit surged 33% to 470.2 crore. Strong growthcame from its continued leadership in the mutual fund registrar and transfer agent (RTA) segment, a 29% rise in equity assets under management (AUM), and a 51% jump in SIP registrations. CAMS alsoadded three new AMC mandates and its first international MF client, CeyBank Asset Management Company, a Sri Lankan AMC. Non-MF businesses, which contributed 14% of revenue, grew nearly 25%, led by CAMS KRA and CAMSPay.

While the core RTA business accounts for approximately 87% of its revenue, CAMS continues todiversify into non-MF segments to mitigate concentration risk.

One of the keychallenges for CAMS is a pricing reset with a major mutual fund client. The company reduced its service fees earlier than planned, as older pricing models based on physical processes no longer made sense in the digital age. This changecaused a Rs 14 crore revenue hit in the Q4 and a 4% drop in the fees CAMS earns from servicing mutual funds.

Anuj Kumar, Managing Director and Chief Executive Officer,said, “About half the pricing impact is already in the books (Q4). The remaining will flow through Q1 and Q2. After that, we expect to return to growth.”

Motilal Oswal remains positive on the stock, citing strong positioning and steady non-MF growth, but also flagged near-term margin pressure from the repricing impact. The brokerage expects non-MF revenue to grow 21% and MF revenue 9% annually over FY25-27.

4. Tata Technologies:

This IT software firm rose over 2% on July 15 as its Q1 FY26 revenue and net profit came in well above Forecaster estimates, despite a QoQ decline. Net profit dropped 9.8% and revenue declined 2.6%, mainly due to slower activity in core services as project ramp-ups were delayed and clients held back on spending. The product segment also saw weak growth because of the typical seasonal slowdown in the first quarter.

Tata Technologies’ core auto segment was affected by delays in project ramp-ups, especially from North American carmakers. These companies held back on R&D spending after the US announced higher tariffs on auto imports in April. They are now looking at shifting manufacturing operations to the US to avoid the tariffs. Since over 60% of Tata Tech’s revenue comes from the auto sector, this had a notable impact. However, the company saw signs of recovery in the second half of the quarter by closing six new deals, four worth over $10 million (~Rs 86 crore) each and two over $5 million.

Analysts believe the management's positive outlook comes from a stronger order book at the end of Q1 compared to last year. However, slowing global demand amid rising tariffs remains a concern for the auto segment's growth. Additional pressure from export restrictions of rare earth metal by China is weighing down growth.

Warren Harris, MD & CEO, said that tariff announcements in April created uncertainty, causing many clients to pause or delay their orders. He mentioned that while customer decisions were initially expected in April, they only came through by late June. This delay makes the company more confident about better performance in Q2 and the rest of the year. However, he added, “We don't anticipate a V-shaped recovery (quick and sharp rebound), in part because of uncertainty due to trade tensions.”

ICICI Securities has a ‘Sell’ rating on Tata Technologies with a price target of Rs 510. The brokerage expects revenue to decline by 1.5% in FY26, which is in contrast to the management’s aim of double-digit growth. It also pointed out that the stock’s high valuation amid slow recovery in the auto segment remains a key concern.

5. Glenmark Pharmaceuticals:

This pharmaceutical company rose 20% to a 52-week high of Rs 2,286.1 on July 11. The rally came after its subsidiary, Ichnos Glenmark Innovation (IGI), signed a licensing agreement with AbbVie for exclusive rights to commercialise its blood cancer drug ISB 2001 (myeloma), with a global market size of $27.5 billion in 2024.

The drug is currently in phase I trials. AbbVie will further develop, manufacture and market the drug worldwide. IGI will receive an upfront payment of $700 million (Rs 5,850 crore) from AbbVie following regulatory approvals. The company is also eligible to earn up to $1.2 billion (Rs 10,000 crore) from FY27 onwards as the drug reaches sales milestones. IGI will also receive double-digit royalties on sales generated by AbbVie.

Managing Director, Glenn Saldanha,said, “We plan to transition to an innovation-led business over the next five years in dermatology, respiratory, and oncology segments.” He emphasises that this deal with AbbVie supports the goal of increasing patented medicines revenue to 70% by 2030, up from 60%.

The company’s revenue rose 6.1% to Rs 13,435.4 crore in FY25, driven by growth in India and the European market, new product launches, and regulatory approvals. The net profit turned positive at Rs 1,047 crore, driven by lower raw material costs and a decline in tax expense, compared to a loss in the previous year.

Glenmark’s US revenue declined 5.4% in FY25 due to delays in regulatory approvals. Senior General Manager Utkarsh Gandhi expects an uptick in US sales, driven by the launch of respiratory and injectable products. The company expects revenue growth of up to 12% in FY26, supported by product rollouts in Russia, Brazil, Mexico, South Africa, and Southeast Asia regions.

Post the deal, Motilal Oswalreiterated a ‘Buy’ rating on Glenmark with a target price of Rs 2,430. The brokerage expects that the partnership with AbbVie will drive earnings for Glenmark in domestic and international markets. Over the past two years, Glenmark has strengthened its portfolio in the higher-margin oncology portfolio, which is supporting sales growth. The brokerage projects net profit to grow at a CAGR of 20% over FY26-27.

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
18 Jul 2025
Market closes lower, Hindustan Zinc's net profit declines 4.7% YoY in Q1FY26
By Trendlyne Analysis

Nifty 50 closed at 24,968.40 (-143.1, -0.6%), BSE Sensex closed at 81,757.73 (-501.5, -0.6%) while the broader Nifty 500 closed at 23,275.15 (-144.6, -0.6%). Market breadth is in the red. Of the 2,485 stocks traded today, 887 were in the positive territory and 1,549 were negative.

Indian indices closed in the red amid FII selling and rising oil prices. The Indian volatility index, Nifty VIX, rose 1.3% and closed at 11.4 points. Afcons Infrastructure secured two road construction orders worth Rs 4,535.4 crore from Croatian Motorways as part of the A1 Zagreb–Split–Dubrovnik motorway project.

Nifty Midcap 100 & Nifty Smallcap 100 closed in the red, following the benchmark index. Nifty Media and S&P BSE SME IPO were among the top index gainers today. According to Trendlyne’s Sector dashboard, Hotels, Restaurants & Tourism emerged as the best-performing sector of the day, with a rise of 1.2%.

Asian indices closed mixed, while European indices are trading in the green. US index futures traded in the green indicating a positive start to the trading session. Core inflation in the US rose at an annual rate of 2.9% in June, just below the 3% consensus estimate. Increases in food and energy prices pushed headline inflation up to 2.7%, compared to 2.4% in the previous month. Fed officials anticipated a summer uptick in inflation due to the delayed impact of tariffs being passed on by businesses. June data suggests they may hold off on rate cuts until clearer signals emerge.

  • Relative strength index (RSI) indicates that stocks like Syrma SGS Technology, Glenmark Pharmaceuticals, Bosch, and Laurus Labs are in the overbought zone.

  • Hindustan Zinc is falling as its Q1FY26 net profit declines 4.7% YoY to Rs 2,234 crore due to higher depreciation & amortisation expenses. Revenue decreases 4.1% YoY to Rs 8,050 crore, caused by reductions in the zinc and lead segment. It shows up in a screener of stocks with prices below short, medium and long-term averages.

  • Atul falls sharply as its Q1FY26 net profit misses Forecaster estimates by 9.4% despite growing 14.2% YoY to Rs 127.8 crore. Revenue jumps 12.7% YoY to Rs 1,504.2 crore, driven by improvements in the life science chemicals and performance & other chemicals segments. It appears in a screener of stocks with declining net cash flow from operations over the past two years.

  • Indian Overseas Bank is rising as its net profit surges 75.6% YoY to Rs 1,111 crore in Q1FY26 due to lower provisions and contingencies. Revenue increases 13% YoY to Rs 7,385.6 crore, driven by improvements in the treasury, wholesale, and retail banking segments during the quarter. The bank's asset quality improves as its gross and net NPAs contract by 92 bps and 19 bps YoY, respectively.

  • Renewable energy companies such as Waaree Energies, Premier Energies, and SW Solar decline after the Alliance for American Solar Manufacturing and Trade accuse them of dumping low-cost products to undercut emerging American solar manufacturers. The US firms have called for tariffs on solar imports from India.

  • Indostar Capital Finance rises as it sells its subsidiary, Niwas Housing Finance, to PE firm Witkopeend B.V. for Rs 1,706 crore. The company plans to use the proceeds to strengthen its core businesses of vehicle finance and micro-finance loans.

  • Lupin is falling as it receives Form 483 with three observations from the US FDA after an inspection at its Pithampur Unit-3 manufacturing facility.

  • Antique Broking initiates coverage on Raymond with a 'Buy' rating and a target price of Rs 903. It highlights the company's entry into the high-margin precision manufacturing business following the demerger of its fabric and real estate businesses. As a result of these value-unlocking measures, the brokerage predicts that operating margins will rise to 12.6% in FY26, up from 8.4% in FY25.

  • Analysts estimate Reliance Industries' Q1FY26 net sales to be in the range of Rs 2.3–2.5 lakh crore, with EBITDA projected between Rs 44,500 and Rs 45,500 crore. On a sequential basis, EBITDA is expected to see a modest single-digit growth. According to Equirus, Reliance Jio's EBITDA is likely to grow 19% YoY, driven by a 14% rise in average revenue per user (ARPU) and strong subscriber additions.

  • Inox Wind's board of directors approves raising Rs 1,250 crore by issuing equity shares through a rights issue.

  • Sunteck Realty is falling as its revenue declines 40.5% YoY to Rs 188.3 crore in Q1FY26, missing Forecaster estimates by 34%. However, net profit rises 46.5% YoY to Rs 33.4 crore, driven by lower inventory expenses. The company appears in a screener of stocks with an increasing trend in non-core income.

  • Route Mobile falls sharply as its net profit declines 32.2% YoY to Rs 53.2 crore in Q1FY26. Revenue decreases 4.8% YoY to Rs 1,050.8 crore due to a slowdown in international business and the discontinuation of certain low-margin customer contracts during the quarter. The company also announces a leadership change, with Chief Executive Officer Gautam Badalia stepping down and Rajdipkumar Gupta set to assume the role effective July 17.

  • UBS maintains a 'Buy' rating on Newgen Software with a lower target price of Rs 1,300. The brokerage notes that Q1 is typically a smaller quarter, so delays in deal closures can significantly affect growth. However, it views the muted Q1 performance as a temporary setback rather than a structural concern, in line with broader market trends. The brokerage highlights management’s expectations of resilient demand for Banking, Financial Services, and Insurance (BFSI) solutions.

  • Tata Communications' Q1FY26 net profit plunges 42.9% YoY to Rs 190 crore due to higher network & transmission, employee benefits, finance, and depreciation & amortisation expenses. However, revenue grows 5.6% YoY to Rs 5,977 crore, driven by improvements in the data services and campaign registry segments. It shows up in a screener of stocks with high debt levels.

  • Sarla Performance Fibers is rising as Dolly Khanna and Anil Kumar Goel add it to their portfolios. Khanna buys a 1% stake, while Goel acquires a 4.2% stake in the firm during Q1FY26.

  • Mukul Agrawal adds Tatva Chintan Pharma to his portfolio in Q1FY26. He buys a 1.2% stake in the company.

  • Aakash Ohri, MD of DLF, highlights the company’s return to Mumbai’s real estate market with 'WestPark', a luxury residential project in Andheri West. He views the launch as a strategic step toward establishing a strong and "impactful" presence in the city. Reports indicate that the project could generate pre-sales worth Rs 2,500 crore. Spread across 5.2 acres, units are priced between Rs 42,000 and Rs 47,000 per sq. ft.

  • Ceat's Q1FY26 revenue grows 10.5% YoY to Rs 3,534.1 crore, led by strong demand from original equipment manufacturers (OEMs). Net profit falls 27.1% YoY to Rs 112.4 crore due to increased marketing expenses and higher raw material costs. The firm appears in a screener of stocks where foreign institutional investors (FIIs) are increasing their shareholding.

  • Indian Hotels' Q1FY26 net profit grows 26.6% YoY to Rs 329.3 crore. Revenue increases 31.7% YoY to Rs 2,102.1 crore during the quarter, driven by a higher occupancy rate. The company appears in a screener of stocks where mutual funds have increased their shareholding over the past quarter.

  • Veranda Learning's board of directors approves raising Rs 380 crore through a qualified institutional placement (QIP) of equity shares at a floor price of Rs 225.2 per share.

  • The electronics industry has reportedly written to the Indian government, raising concerns over 'informal sanctions' imposed by China. It warns that export-linked smartphone manufacturing could face a hit of $32 billion (approximately Rs 2.7 lakh crore) in FY26 due to these actions. The industry body claims Beijing is issuing verbal directives targeting three key choke points: rare-earth metals, the recall of Chinese workers, and restrictions on equipment.

  • LTIMindtree's Q1FY26 net profit grows 11.1% QoQ to Rs 1,254.1 crore, led by lower employee benefits and depreciation & amortisation expenses. Revenue rises 2.1% QoQ to Rs 10,232.7 crore, attributed to improvements in the banking, financial services & insurance (BFSI), manufacturing & resources, and consumer business segments. It appears in a screener of stocks with increasing revenue over the past four quarters.

  • Axis Bank is falling as its net profit declines 3.8% YoY to Rs 5,806.1 crore in Q1FY26 due to rise in provisions and contingencies. However, revenue increases 3.3% YoY to Rs 31,063.5 crore, driven by improvements in the treasury and wholesale banking segments during the quarter. The bank's asset quality deteriorates as its gross and net NPAs expand by 3 bps and 11 bps YoY, respectively.

  • Afcons Infrastructure surges as it secures two road construction orders worth Rs 4,535.4 crore from Croatian Motorways as part of the A1 Zagreb–Split–Dubrovnik motorway project. The first order, worth Rs 2,398 crore, involves building a 9 km stretch between Rudine and Slano. The second project, valued at Rs 2,137 crore, covers the construction of an 11.5 km section between Slano and Puo Mravinjak.

  • Wipro rises sharply as its Q1FY26 net profit beats Forecaster estimates by 2.3%, despite falling 6.7% QoQ to Rs 3,330.4 crore, caused by higher employee benefits, sub-contracting, and travel expenses. Revenue decreases 2.1% QoQ to Rs 23,201.1 crore due to reductions in the Americas and Europe businesses. It features in a screener of stocks with improving net cash flow over the past two years.

  • Nifty 50 was trading at 25,096.05 (-15.4, -0.1%), BSE Sensex was trading at 82,193.62 (-65.6, -0.1%) while the broader Nifty 500 was trading at 23,423.45 (3.8, 0.0%).

  • Market breadth is in the green. Of the 1,993 stocks traded today, 1,190 were in the positive territory and 736 were negative.

Riding High:

Largecap and midcap gainers today include NMDC Ltd. (71.44, 2.7%), Wipro Ltd. (266.95, 2.4%) and Steel Authority of India (SAIL) Ltd. (136.45, 2.1%).

Downers:

Largecap and midcap losers today include Axis Bank Ltd. (1,099.30, -5.2%), CG Power and Industrial Solutions Ltd. (667.60, -3.2%) and Shriram Finance Ltd. (645.50, -3%).

Movers and Shakers

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

Top high volume gainers on BSE included Gujarat Mineral Development Corporation Ltd. (435.30, 14.7%), PVR INOX Ltd. (1,019.40, 4.4%) and Chennai Petroleum Corporation Ltd. (779.40, 4.3%).

Top high volume losers on BSE were Clean Science & Technology Ltd. (1,318.70, -8.8%), Newgen Software Technologies Ltd. (962.60, -6.1%) and Axis Bank Ltd. (1,099.30, -5.2%).

Sapphire Foods India Ltd. (342.10, -0.1%) was trading at 20.8 times of weekly average. Tata Communications Ltd. (1,763.80, 1.9%) and Elgi Equipments Ltd. (548.95, -0.8%) were trading with volumes 9.0 and 8.9 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 - Biocon Ltd. (398.75, 0.4%), Fortis Healthcare Ltd. (798.50, -1.5%) and JK Cement Ltd. (6,500, 1.1%).

12 stocks climbed above their 200 day SMA including Sammaan Capital Ltd. (136.12, 4.0%) and Star Cement Ltd. (226.19, 2.7%). 19 stocks slipped below their 200 SMA including Clean Science & Technology Ltd. (1,318.70, -8.8%) and Axis Bank Ltd. (1,099.30, -5.2%).

 
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The Baseline
17 Jul 2025
 
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The Baseline
17 Jul 2025
By Abdullah Shah

Capex, or capital expenditure, is typically a positive signal, indicating that the company is upbeat about its future and planning its next leg of growth. 

So capex growth forecasts by analysts are a useful proxy for industry optimism and future growth, and help justify current valuations. 

After several muted quarters in capex spending, a report by the Union Bank of India says that FY26 looks promising, with both fiscal consolidation and higher capex outlays. Capex in April-May FY26 rose 54% YoY to Rs 2.2 lakh crore (19.7% of the Rs 11.2 lakh crore annual target), indicating frontloaded government spending to boost demand.

Group CEO of Infomerics Valuation and Ratings, Shubham Jain, said, “India's economy is expected to grow at a rate of 6.3-6.8% in the next 12 to 18 months. This growth will be driven by strong domestic consumption and government-led infrastructure spending.”

In this edition of Chart of the Week, we look at the most dominant sectors, software & services, general industrials, utilities, and metals & mining, that turn up in a screener of stocks with high Forecaster capex growth estimates. 

Software & services sector ramps up AI, cloud investments

15 of the top 100 stocks with the highest capex forecasts are in the software & services sector. Research firm, Gartner estimates the industry to grow 11.1% to $161.5 billion in 2025. 

The sector has received strong deals in the cloud computing and artificial intelligence segments over the past two years. In 2024, Indian companies spent over $8.5 billion on public cloud services, with forecasts estimating it to reach $13 billion by 2026.

As of 2024, 65% of Indian IT services firms have integrated AI robotic process automation (RPA) into client offerings, with high demand from banking, financial services, and insurance (BFSI), manufacturing, and retail clients. This has prompted the software & services companies to ramp up the development of AI and cloud services, leading to higher capex spends.

IT consulting & software firms such as MphasiS, Tata Elxsi, Zensar Technologies, and HCL Technologies are among the major contributors to this trend.

Trendlyne’s Forecaster estimates MphasiS’ capex to surge 556.2% in FY26. The company’s deal pipeline consists of 65% deals in the AI segment in Q4FY25, up from 25% in Q4FY24. The management plans to invest in AI to enhance client experience while keeping the cost to serve low. This involves integrating AI directly into business operations, and continuing these investments regardless of the macro environment. 

Nitin Rakesh, Chief Executive Officer of MphasiS, said, “We will be focused on growing the deal pipeline and total contract value (TCV), with AI-led deals playing a bigger role. We plan to invest in our AI solutions while staying within our target margin band.”

Internet software company Just Dial has the highest capex growth estimate of 826.1% in the sector, while Tata Elxsi and Zensar Technologies are expected to see a capex growth of 356.9% and 296.6%, respectively. 

Software products developer Tata Technologies is estimated to increase its capex by 288.2%, while HCL Tech is expected to grow its capex by 199.8% in FY26. Both companies are also investing in AI and cloud computing services.

PLI push and rising utilisation drive industrial capex upswing

General industrials is seeing a sharp rise in capital investment. Backed by government initiatives like "Make in India" and PLI schemes, companies are actively setting up and expanding production facilities. A key trend driving this is improving capacity utilisation — existing plants are running closer to their full potential, which justifies further expansion.

The Economic Survey 2024-25 noted, "Manufacturing is resilient, with capacity utilisation above long-term averages, and private sector investment continues to grow steadily." Reflecting this momentum, 13 out of the top 100 stocks in our screener are from the general industrials sector.

HEG leads in capex growth estimates with a 418.2% rise expected in FY26, driven by its Rs 1,850 crore graphite anode plant. This electrodes manufacturer expects to maintain or slightly improve utilisation this year. Chairman and CEO Ravi Jhunjhunwala said, “We aim to keep utilisation at 80-85%, compared to an average of 50-60% of our international peers.”

Electrical equipment firm Hitachi Energy, preparing for India’s major grid expansion (from 400 GW to 900 GW), is putting a large part of its recent QIP funds toward factory upgrades, machinery, and infrastructure. Its FY26 capex is five times what it spent between FY20 and FY25.

Explosives company Solar Industries’ order book has jumped from Rs 2,600 crore in FY24 to Rs 13,000 crore in FY25. ICICI Securities expects the company to invest Rs 15,000 crore over the next five years as it scales up in defence orders. CEO Manish Nuwal noted, “Solar has signed a Rs 12,700 crore MoU with the Government of Maharashtra to invest in defence and aerospace,” adding that defence revenue will rise to "over 30% from the current 18%" driven by this capex.

Forecaster projects defence products maker Zen Technologies capex to grow by over 300% in FY26 to Rs 125 crore. However, the company missed the Forecaster estimates sharply for FY25 capex. CEO Ashok Atluri stated, “We’ve allocated Rs 70 crore for the R&D facility and another Rs 5 crore for equipment. We make budgets, but we spend when opportunities come up or when we see a gap in our products.”

Utilities sector capex surges on Government schemes

The utilities sector also features in the screener, with eight among the top 100 companies. The government has introduced several schemes to modernise the power distribution infrastructure and increase the share of renewable energy. Prime Minister Narendra Modi announced the ‘Panchamrit’ goals at the 26th UN Climate Change Conference (COP26) in Glasgow. 

Under Panchamrit goals, the government aims to achieve a renewable energy capacity of 500 gigawatt (GW) by 2030, with 50% of the energy requirement being met by renewable energy. 

Power infrastructure players like JSW Energy, Adani Power, and Techno Electric & Engineering are capitalising on the government’s push to modernise the energy sector. Techno Electric has the highest Forecaster capex growth estimates of 790.7% among utilities stocks in FY26. The company’s Director & CEO, Ankit Saraiya, in an interview with CNBC, announced a $1 billion (~ Rs 8,598 crore) investment plan to set up a total data centre capacity of 250 megawatt (MW) across India by 2030.

The company plans a capex of Rs 5,000 crore in FY25-26, with half of the capex assigned for smart meters and the remaining shared between expansion of data centres and tariff based competitive bidding (TBCB) power transmission projects.

Green energy firm ACME Solar Holdings is riding the government capex waves in the renewables sector, with Forecaster estimates capex growth of 308.8% in FY26. The company plans to invest Rs 17,000 crore to expand its renewable energy capacity to 5 GW in FY26. It aims to add new capacities in the hybrid and firm & dispatchable renewable energy (FDRE) segments. 

ACME Solar’s CEO, Nikhil Dhingra, said, “Our growth plan is not only focused on expanding solar capacity but also diversifying the project mix. Our under-construction projects include a mix of solar, wind, FDRE, and hybrid solutions. These projects have a short capex to revenue cycle, ensuring faster accretion of revenue and margin benefits.”

Forecaster projects JSW Energy’s capex to grow 227.8% in FY26. The company plans an investment of Rs 15,000-18,000 crore during the financial year to increase its renewable energy and energy storage capacity. 

Adani Power also shows up in the screener with Forecaster estimating a 192.1% increase in capex during FY26. This Adani Group company plans a capex of Rs 13,000 crore to increase its thermal power generation capacity to 30.7 GW by FY30. 

Metals & mining firms ramp up expansion, eye backward integration

Six out of the top 100 stocks belong to the metals & mining sector, which is currently witnessing strong capex activity as companies expand existing production and set up new integrated facilities. 

A key trend across the sector is the shift toward value-added products to boost profit margins. At the same time, companies are looking to cut operational costs through backward integration and better logistics, such as building slurry pipelines to reduce transportation expenses.

The plan to commission the cold-drawn pipe is driving Maharashtra Seamless’ capex growth estimate of over 1000%. The company, which manufactures steel products, is focusing its Rs 850 crore capex on this project, with machinery already ordered and expected to arrive later this year. Cold-drawn pipes are high-precision pipes used in sectors like oil & gas and automotive. The company expects this expansion to boost its annual turnover by Rs 1,900 crore.

Mining firm Lloyds Metals & Energy plans to invest around Rs 6,000-6,500 crore in FY26 and over Rs 7,000 crore in FY27. Managing Director Rajesh Gupta said, "The ongoing capex is heavily geared towards backward integration," referring to key projects such as a pipeline to move raw materials more efficiently, a facility to make sponge iron, and its own power plant—all of which are close to completion.

Non-ferrous metals processor Gravita has planned a Rs 1,500 crore capex through FY28, including Rs 1,000 crore for expanding current operations and Rs 500 crore for entering new areas such as lithium-ion battery recycling, paper, rubber, and steel.

 
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Trendlyne Marketwatch
17 Jul 2025
Market closes lower, Polycab India's Q1 net profit grows 49.5% YoY to Rs 592.1 crore
By Trendlyne Analysis

Nifty 50 closed at 25,111.45 (-100.6, -0.4%), BSE Sensex closed at 82,259.24 (-375.2, -0.5%) while the broader Nifty 500 closed at 23,419.70 (-52.8, -0.2%). Market breadth is holding steady. Of the 2,484 stocks traded today, 1,246 were on the uptick, and 1,202 were down.

Indian indices closed lower after extending its losses in the afternoon session. The Indian volatility index, Nifty VIX, rose marginally and closed at 11.2 points. HDFC AMC closed 2.9% higher as its Q1FY26 net profit grew by 23.8% YoY to Rs 747.6 crore, beating Forecaster estimates by 7.6%. Revenue increased by 26.6% YoY, helped by higher assets under management (AUM).

Nifty Smallcap 100 closed flat, while Nifty Midcap 100 closed lower. Nifty IT and BSE Tech were among the top index losers today. According to Trendlyne’s sector dashboard, Software & Services emerged as the worst-performing sector of the day, with a fall of 1%.

Asian indices closed mixed. European indices are trading higher. US index futures are trading flat, indicating a cautious start to the trading session as investors look ahead to earnings from companies like Netflix, Johnson & Johnson, and PepsiCo. US President Trump said he is ‘highly unlikely’ to fire Fed Chair Jerome Powell, following earlier reports that he considered his dismissal. Brent crude futures are trading flat after falling 0.3% on Wednesday.

  • Money flow index (MFI) indicates that stocks like Syrma SGS Technology, Bosch, Hindustan Unilever, and Global Health are in the overbought zone.

  • Polycab India's Q1FY26 net profit grows 49.5% YoY to Rs 592.1 crore, driven by lower advertisement & sales expenses. Revenue jumps 25.8% YoY to Rs 5,985.9 crore, led by improvements in the wires & cables and FMEG segments. It features in a screener of stocks with high momentum scores.

  • HDFC Asset Management Co rises sharply as its Q1FY26 net profit grows by 23.8% YoY to Rs 747.6 crore, beating Forecaster estimates by 7.6%. Revenue increases by 26.6% YoY, helped by higher assets under management (AUM). It features in a screener of stocks with improving RoE over the past two years.

  • Reliance Power's board of directors approves raising Rs 6,000 crore by issuing equity shares through a qualified institutional placement (QIP) or other modes. The board also approves raising Rs 3,000 crore by issuing non-convertible debentures.

  • Tata Sons, the holding company of the Tata Group, is reportedly set to infuse $400 million (approximately Rs 3,340 crore) into Tata Digital, its digital commerce arm. The funding is expected to come from dividends received from Tata Consultancy Services (TCS).

  • Larsen & Toubro plans to invest Rs 1,000 crore in its Katupalli shipbuilding facility in Tamil Nadu. The investment will increase production capacity to 50,000 tonnes per annum for its modular fabrication facility (MFF) and support the construction of 25 ships annually.

  • South Indian Bank's Q1FY26 net profit grows 9.5% YoY to Rs 322 crore. Revenue increases 2.1% YoY to Rs 2,362.4 crore, driven by improvements in the treasury, wholesale and retail banking segments during the quarter. The bank's asset quality improves as its gross and net NPAs contract by 135 bps and 76 bps YoY, respectively.

  • Newgen Software falls sharply as its Q1FY26 net profit plunges 54% QoQ to Rs 49.7 crore. Revenue declines 21.2% QoQ to Rs 350 crore due to reductions in the Indian, Europe, Middle East & Africa (EMEA), Asia-Pacific (APAC), and the US markets. It appears in a screener of stocks with increasing trend in non-core income.

  • The World Bank's Global Findex 2025 report shows that 89% of Indian adults now have a financial account, mostly with banks or similar institutions (88.7%), and 23.1% use mobile money. However, India also ranks among countries with the highest share of inactive accounts. According to the World Bank, India’s financial inclusion journey is far from over.

  • Patanjali Foods' board of directors approves a bonus issue of shares to equity holders in the ratio of 2:1. This means that each shareholder will receive two fully paid-up equity share for every share they hold on the record date.

  • JTL Industries falls sharply as its Q1FY26 net profit drops 46.8% YoY to Rs 16.3 crore due to higher raw materials, inventory, employee benefits, finance, and depreciation & amortisation expenses. However, revenue grows 5.8% YoY to Rs 549.6 crore, driven by improvement in sales in the domestic and export markets. It shows up in a screener of stocks with PE higher than industry PE.

  • Mahindra Logistics surges as its board of directors approves a rights issue at Rs 277 per share and sets the record date as July 23. The issue involves 2.7 crore shares worth Rs 749.3 crore.

  • India and the US are in extended talks over a bilateral trade agreement, with the fifth round underway in Washington. Uncertainty over the deal has led importers to delay customs clearance of US walnut, almond, and nut shipments, anticipating a possible 50% duty cut. This could worsen supply disruptions as importers aim to avoid losses from clearing goods at current rates.

  • PNC Infratech rises sharply as it emerges as the lowest bidder for NHPC’s 300 MW solar project, which includes a 150 MW / 600 MWh energy storage system. The company quoted a tariff of Rs 3.1 per kilowatt-hour (kWh).

  • Mukul Agrawal adds Yatharth Hospital to his portfolio in Q1FY26. He buys a 1.1% stake in the company.

  • Le Travenues Technology (Ixigo) surges to its all-time high of Rs 206.2 as its Q1FY26 net profit grows 28.4% YoY to Rs 19.1 crore. Revenue rises 74.4% YoY to Rs 321.4 crore, driven by improvements in the flight, train, and bus travel segments. It features in a screener of stocks with increasing net cash flow and cash from operating activities.

  • ABB India is in focus after a 9% YoY drop in order inflows, as per ABB Global’s Q2CY25 results, which track third-party orders from ABB India and related entities. Slower inflows may impact near-term revenue, though exposure to high-growth sectors like data centers, renewables, and railways supports long-term prospects.

  • Smartworks Coworking Spaces’ shares debut on the bourses at a 6.9% premium to the issue price of Rs 407. The Rs 582.6 crore IPO received bids for 13.4 times the total shares on offer.

  • Kalpataru Projects International secures orders worth Rs 2,293 crore in the buildings & factories (B&F) and transmission & distribution (T&D) segments in India and overseas.

  • Hexaware Technologies rises as it announces the acquisition of Tech SMC Square India and Tech SMCSquared (GCC) India for up to $120 million (around Rs 1,029 crore) in cash. This deal helps Hexaware grow in the Global Capability Center (GCC) market in India, which is expected to cross $100 billion by 2030. It also strengthens Hexaware’s services in AI, cloud, data, and enterprise tech.

  • Kotak Institutional Equities maintains an 'Accumulate' rating on Thermax with a higher target price of Rs 3,800. The brokerage notes the company’s strong performance in FY25, supported by new product launches, increasing momentum in energy transition solutions, progress in phase II of key R&D initiatives, and strategic partnerships—especially within its chemicals segment.

  • Arvind Fashions is rising as its board of directors appoints Amisha Jain as the new Managing Director (MD) and Chief Executive Officer (CEO) for the next five years, effective August 13.

  • Angel One's Q1FY26 net profit plunges 60.9% YoY to Rs 114.5 crore due to higher finance, employee benefits, and depreciation & amortisation expenses. Revenue decreases 18.9% YoY to Rs 1,143.1 crore, caused by reductions in gross client additions and the number of orders. It appears in a screener of stocks where promoters are decreasing their shareholding.

  • L&T Technology Services' Q1FY26 net profit rises 1.5% QoQ to Rs 315.7 crore. However, revenue decreases 3.9% QoQ to Rs 2,866 crore due to lower sales from the mobility and tech segments during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

  • Tech Mahindra's Q1FY26 net profit declines 2.2% QoQ to Rs 1,140.6 crore due to higher employee benefits expenses. Revenue remains flat at Rs 13,569.5 crore, caused by reductions in the IT segment. It shows up in a screener of stocks with declining net cash flow.

  • Nifty 50 was trading at 25,217.60 (5.6, 0.0%), BSE Sensex was trading at 82,753.53 (119.1, 0.1%) while the broader Nifty 500 was trading at 23,502.90 (30.4, 0.1%).

  • Market breadth is highly positive. Of the 2,001 stocks traded today, 1,536 showed gains, and 427 showed losses.

Riding High:

Largecap and midcap gainers today include Sona BLW Precision Forgings Ltd. (486, 6.8%), Thermax Ltd. (3,885.90, 6.6%) and AWL Agri Business Ltd. (278.30, 6.1%).

Downers:

Largecap and midcap losers today include Tech Mahindra Ltd. (1,563.70, -2.8%), InterGlobe Aviation Ltd. (5,796.50, -2.6%) and Waaree Energies Ltd. (3,206, -2.6%).

Movers and Shakers

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

Top high volume gainers on BSE included Sona BLW Precision Forgings Ltd. (486, 6.8%), Thermax Ltd. (3,885.90, 6.6%) and AWL Agri Business Ltd. (278.30, 6.1%).

Top high volume losers on BSE were Newgen Software Technologies Ltd. (1,025.60, -6.0%), Tech Mahindra Ltd. (1,563.70, -2.8%) and Carborundum Universal Ltd. (994.25, -0.5%).

Alok Industries Ltd. (22.04, 6.0%) was trading at 16.3 times of weekly average. Star Cement Ltd. (220.21, 4.1%) and Craftsman Automation Ltd. (6,470, 4.3%) were trading with volumes 9.6 and 8.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

9 stocks made 52 week highs,

Stocks touching their year highs included - JK Lakshmi Cement Ltd. (1,001, 3.1%), The Ramco Cements Ltd. (1,174.40, 0.6%) and Nippon Life India Asset Management Ltd. (850.45, -2.2%).

23 stocks climbed above their 200 day SMA including Thermax Ltd. (3,885.90, 6.6%) and Concord Biotech Ltd. (1,920.50, 4.5%). 4 stocks slipped below their 200 SMA including Swan Energy Ltd. (507.05, -2.9%) and Tata Elxsi Ltd. (6,196.50, -1.8%).

 
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The Baseline
17 Jul 2025
How much does India need a trade deal with the US? | Screener: Stocks with the biggest US exports

Prime Minister Modi and US President Trump have something in common: they both like taglines and punchy names. The Big Beautiful Bill, Atmanirbhar, Acche Din, Make America Great Again. So when they got together in February this year, it was inevitable that they would come up with a new catchphrase for the future India US trade relationship - the US-India COMPACT ("Catalysing Opportunities for Military Partnership, Accelerated Commerce & Technology").

Coining the phrase was the easy part. Actually reaching a compact or trade agreement, has turned out to be a bit tricky. From the argument over US exports of "non veg milk" - where American dairy cows are fed meat and blood products - to opening up India's agri sector to genetically modified US crops, there have been many disagreements.

Combine this with Trump having one hammer for many nails, threatening tariffs for nearly every political issue - like 500% tariffs on India for importing Russian oil - and a trade deal becomes even harder.

No surprise then that the US, despite promising "90 deals in 90 days" in April, has only been able to strike deals with the UK and smaller countries like Indonesia and Vietnam.  

Trump has complained that India is “the highest tariffed nation anywhere in the world.” And while this is a man with a tendency to exaggerate ("I'm a very stable genius", anyone?), India does charge high tariff rates, averaging around 12% on imports compared to 6% in Thailand, 5% in Vietnam, 3% in China and 2% in Japan.

So these two sides both claim unfair demands from the other, but are working to find common ground. How much does this deal matter to India?

In this week's Analyticks:

  • (Maybe) on the brink of a deal: How much does India need a deal with the US?
  • Screener: Stocks with the highest merchandise exports to the US

For India, the US is a heavy hitter as a trading partner

Years ago, a study found that Gujaratis had settled in 129 of the world's 190 countries. There were Gujarati families in Nauru, a Pacific Island country of 9,000 people, and Gujaratis working in the diamond mines of Yellowknife, a distant town in northern Canada. But while many millions of Indians are migrants, settling everywhere from the UK to Botswana to Kuwait, India has policy-wise been an inward looking country. Besides software, our country's industries stayed domestically focused while our rival China pushed its exports across the world. 

The attitude has changed in recent years, with the government pushing for trade deals with the UK, EU, Australia and other major countries, and providing significant incentives to exporters. Merchandise exports have grown steadily,  but services growth, thanks to software exports, have still outperformed overall. 

There is little doubt that India got a big export boost after China originated the Covid pandemic, and countries reconsidered their over-dependence on Chinese products. But India has yet to fully take advantage. One notable exception here has been in mobile exports. 

From Apple phones to HP laptops, a lot of electronics are being increasingly assembled in India instead of China. Nearly 18% of India's total merchandise exports go to the US. And electronics, pharma, textiles are big export segments to the US. 

The US for example accounts for nearly one third of India's total electronics exports, and nearly 20% in pharma. 

For these dominant sectors, having lower tariff rates would make India more competitive and boost an existing advantage. A Niti Aayog report published earlier this month, noted that major exporter economies like Canada and China have been slapped with high US tariffs in the range of 30-35%. This already gives India a relative export advantage in 78 products that make up 52% of India’s exports to the US. These include electronics, mineral fuels, apparel, plastics and furniture, worth in total of $1,265 billion.

 The government is eyeing this as a major opportunity, and considering new PLI schemes for these industries, as well as lower setup and electricity costs for manufacturers.

But a US-India trade deal would supercharge this advantage.

The last round of India–US trade talks ran from June 26 to July 2. The Indian team is now again back in the US, trying to hammer out a deal. A favourable deal for Indian sectors like textiles, gems and jewellery, garments, plastics and chemicals, could dramatically increase exports for domestic manufacturers in these segments, and boost job growth. 

So while India's ministers like Piyush Goyal have talked tough, saying India won't negotiate on a deadline, everyone is watching a clock that ticks towards August 1, when the tariffs kick in. 

Screener: Stocks with the highest merchandise exports to the US

Largest merchandise exporters to the US

As we move closer to the August 1 deadline set by President Trump for import tariffs to take effect, India is reportedly close to finalising a trade deal. The US is India’s largest export market, with a trade surplus of $41.2 billion generated in FY25. In this screener, we look at stocks with the highest merchandise exports to the US.

The screener consists of stocks with significant merchandise exports to the US. These stocks come from the pharmaceuticals, auto parts & equipment, gems & jewellery, consumer electronics, agrochemicals, and textiles industries. Major stocks in the screener are Reliance Industries, Titan, Sun Pharma, Hindalco Industries, Samvardhana Motherson International, Dixon Technologies, Glenmark Pharma, PI Industries, and UPL. 

President Trump warned about imposing a 200% import tariff on Indian pharmaceutical companies on July 9, after giving them 12-18 months to set up manufacturing facilities in the US. The Indian pharma industry generated $9 billion (~ Rs 76,831 crore) in sales from the US. Sun Pharmaceutical Industries and Glenmark Pharma were among the largest contributors. Sun Pharma reported a $1.9 billion (~Rs 16,330 crore) revenue from the US in FY25, contributing 30% of the company’s total revenue. Glenmark Pharma generated Rs 3,017.2 crore from the US in the same period, approximately 22.9% of its total revenue.

The agrochemicals industry also faces potential risks from Trump tariffs. In FY25, the industry generated $5.7 billion (~ Rs 48,978 crore) in revenue from sales to the US. UPL and PI Industries are among the largest exporters of chemicals to the US. UPL generated $728 million (~ Rs 6,060 crore) in sales from the US, contributing to 13% of its total revenue. Meanwhile, PI Industries reported $405 million (~ Rs 3,359 crore), contributing to approximately 42% of its total revenue.

You can find some popular screeners here.

 
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Trendlyne Marketwatch
16 Jul 2025
Market closes flat, ITC Hotels' Q1FY26 net profit beats Forecaster estimates by 35.5%
By Trendlyne Analysis

Nifty 50 closed at 25,212.05 (16.3, 0.1%), BSE Sensex closed at 82,634.48 (63.6, 0.1%) while the broader Nifty 500 closed at 23,472.50 (23.4, 0.1%). Market breadth is in the green. Of the 2,485 stocks traded today, 1,367 were gainers and 1,073 were losers.

Indian indices closed flat after switching between gains and losses throughout the day. The Indian volatility index, Nifty VIX, fell 2.1% and closed at 11.2 points. SBI closed higher after launching a Qualified Institutional Placement (QIP) to raise Rs 25,000 crore, potentially making it India’s largest-ever QIP, surpassing Coal India’s 2015 record of Rs 22,560 crore.

Nifty Smallcap 100 and Nifty Midcap 100 closed flat, tracking the benchmark index. Nifty PSU Bank and Nifty Media were among the best-performing indices of the day. According to Trendlyne’s sector dashboard, Media emerged as the best-performing sector of the day, with a rise of 1.4%.

European indices are trading higher, except the Netherlands’ AEX index, which is trading 1.2% lower. Major Asian indices closed mixed. US index futures are trading lower, indicating a cautious start to the session as investors await the release of wholesale producer price growth later in the day.

  • LT Foods rises as its organic business arm, Nature Bio Foods (NBF), enters the business-to-consumer (B2C) segment in Europe with a revenue target of Rs 400 crore in the next five years.

  • ITC Hotels rises sharply as its net profit grows 53.8% YoY to Rs 133.1 crore in Q1FY26. Revenue increases 15.5% YoY to Rs 815.5 crore during the quarter. The company shows up in a screener of stocks with rising quarterly net profit and profit margin YoY.

  • Axis Direct maintains its 'Buy' call on Bajaj Finance, with a target price of Rs 1,050 per share. This indicates a potential upside of 13.7%. The brokerage expects the lender's assets under management (AUM) to improve on the back of improvements in the core existing products and a scale-up of the new products. It expects the firm's AUM to grow at a CAGR of 25% over FY26-27.

  • Union Minister for New and Renewable Energy, Prahlad Joshi, states that India aims to meet 50% of its energy needs from non-fossil sources and has already achieved some 2030 targets ahead of schedule. Solar capacity has grown from 2.8 GW in 2014 to 270 GW in 2024, while wind capacity rose from 21 GW to 51 GW. Joshi credits the progress to policy reforms and capacity-building efforts.

  • Shilpa Medicare surges as it receives an establishment inspection report (EIR) with a voluntary action indicated (VAI) status from the US FDA for Unit VI facility in Dabaspet, Bengaluru. The facility manufactures and distributes Oral Dissolving Films and Transdermal Systems, which are complex dosage forms.

  • Network18 Media & Investments surges as it posts a net profit of Rs 148 crore in Q1FY26 compared to a loss of Rs 125.4 crore in Q1FY25, helped by a Rs 150 crore gain from exceptional items. Revenue falls 85.1% YoY to Rs 467.9 crore during the quarter. It appears in a screener of stocks with zero promoter pledge.

  • DB Corp is falling as its Q1FY26 net profit declines 31.4% to Rs 80.8 crore due to higher raw materials, employee benefits, and finance costs. Revenue decreases 4.7% YoY to Rs 587.2 crore, caused by reductions in the printing, publishing & allied business and radio segments. It appears in a screener of stocks with growing costs YoY for long-term projects.

  • Iron ore prices jump above $100/ton amid renewed optimism in China, fueled by stimulus hopes and improved sentiment. However, Citi analysts view the rally as speculative, lacking strong demand or supply fundamentals. They maintain a bearish stance, forecasting a drop to $90/ton within three months and warning the surge may be short-lived.

  • Premier Explosives is rising as it secures an order worth $12.2 million (approximately Rs 105 crore) from an international client to manufacture and supply defence explosives.

  • Coffee Day Enterprises surges as Dolly Khanna adds it to her portfolio. She buys a 1.6% stake in the company in Q1FY26.

  • Dixon Technologies rises as it signs a binding term sheet to acquire a 51% stake in Kunshan Q Tech Microelectronics (India). The collaboration will focus on manufacturing camera and fingerprint modules for mobile phones, IoT devices, and automotive applications.

  • Bernstein initiates coverage on Aditya Birla Lifestyle with a 'Market Perform' rating and a target price of Rs 170. Recently demerged from Aditya Birla Fashion and Retail, the company is seen by the brokerage as a market leader in legacy brands with strong recall and profitability. However, it cautions that high market penetration, the shift toward casual wear, and rising competition could constrain long-term growth.

  • Ola Electric Mobility falls after Maharashtra’s Transport Department reportedly orders the closure of its showrooms and service centres operating without valid trade certificates. The action follows a notice stating 121 outlets lacked certification and 109 show-cause notices were issued.

  • ICICI Lombard General Insurance is rising as its net profit grows 28.7% YoY to Rs 747.1 crore in Q1FY26, driven by a 24.6% YoY growth in net premium income. Revenue increases 14.2% YoY to Rs 6,395.6 crore during the quarter. The company appears in a screener of stocks outperforming their industry price change in the quarter.

  • Indian Overseas Bank cuts its marginal cost of lending rate (MCLR) by 10 bps across all tenures, effective July 15. The revised MCLR, applicable to loans like home loans, now ranges from 8.1% to 9%.

  • Jio BlackRock Mutual Fund gets SEBI approval to launch four passive funds: the JioBlackRock Nifty Midcap 150 Index Fund, Nifty Next 50 Index Fund, Nifty Smallcap 250 Index Fund, and Nifty 8-13 Yr G-Sec Index Fund. Three are equity index funds, while one is debt-oriented.

  • PVR INOX falls as the Karnataka government issues a draft notification to cap movie ticket prices at Rs 200 per show. The Karnataka market accounts for 12.3% of its portfolio.

  • Just Dial’s Q1FY26 net profit grows 13.1% YoY to Rs 141.2 crore. Revenue increases 15.7% YoY to Rs 367.4 crore during the quarter, driven by a rise in unique visitors and higher realisation per customer. The company appears in a screener of stocks where mutual funds have increased their shareholding over the past month.

  • HDFC Bank is rising as its board of directors schedules a meeting on July 19 to consider a proposal for issuing bonus shares. The bank will also announce its Q1FY26 results.

  • SBI launches a Qualified Institutional Placement (QIP) to raise Rs 25,000 crore (approx. $2.9 billion), potentially making it India’s largest-ever QIP, surpassing Coal India’s 2015 record of Rs 22,560 crore. LIC is reportedly a key participant and may bid over Rs 5,000 crore. The QIP is priced at Rs 790–800 per share, reflecting a 2–3% discount to the market price.

  • HDB Financial Services’ Q1FY26 revenue rises 14.9% YoY to Rs 4,465.4 crore, driven by higher loan disbursements and yields. Net profit falls 2.4% YoY to Rs 567.7 crore due to a rise in loan losses and provisions. The company appears in a screener of stocks with zero promoter pledge.

  • Biocon is rising as it receives approval from the US FDA for its Kirsty drug to treat type 1 and type 2 diabetes. According to IQVIA, the drug had annual sales of $1.9 billion in 2024.

  • Zydus Lifesciences receives final approval from the US FDA for its Celecoxib Capsules, used to treat pain or inflammation caused by many conditions such as arthritis, ankylosing spondylitis, and menstrual pain. According to IQVIA, the drug had a market size of $122.6 million as of May 2025.

  • HDFC Life Insurance's Q1FY26 net profit grows 14.5% YoY to Rs 548.4 crore, driven by a 15.6% YoY growth in net premium income. Revenue increases 9.4% YoY to Rs 29,463.2 crore during the quarter. The company appears in a screener of stocks with book value per share improving over the last two years.

  • Nifty 50 was trading at 25,159.75 (-36.1, -0.1%), BSE Sensex was trading at 82,534.66 (-36.3, 0.0%) while the broader Nifty 500 was trading at 23,447.10 (-2.1, 0.0%).

  • Market breadth is highly positive. Of the 2,022 stocks traded today, 1,463 were on the uptick, and 500 were down.

Riding High:

Largecap and midcap gainers today include Patanjali Foods Ltd. (1,859.60, 6.6%), Thermax Ltd. (3,645.80, 4.8%) and Hindustan Petroleum Corporation Ltd. (446.10, 2.9%).

Downers:

Largecap and midcap losers today include Page Industries Ltd. (47,145, -3.8%), ICICI Prudential Life Insurance Company Ltd. (650.60, -2.8%) and PB Fintech Ltd. (1,812.50, -2.6%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Network18 Media & Investments Ltd. (63.14, 13.3%), Patanjali Foods Ltd. (1,859.60, 6.6%) and Cera Sanitaryware Ltd. (6,925.50, 6.4%).

Top high volume losers on BSE were Just Dial Ltd. (894.95, -4.9%), ICICI Lombard General Insurance Company Ltd. (1,970.80, -1.6%) and Chalet Hotels Ltd. (890, -1.0%).

Thermax Ltd. (3,645.80, 4.8%) was trading at 15.0 times of weekly average. Bikaji Foods International Ltd. (749.05, 3.4%) and Godrej Industries Ltd. (1,145, 2.1%) were trading with volumes 11.6 and 8.4 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 - Biocon Ltd. (394.65, 1.1%), EID Parry (India) Ltd. (1,151, -0.8%) and Marico Ltd. (731.65, -1.2%).

25 stocks climbed above their 200 day SMA including Network18 Media & Investments Ltd. (63.14, 13.3%) and Patanjali Foods Ltd. (1,859.60, 6.6%). 7 stocks slipped below their 200 SMA including Akzo Nobel India Ltd. (3,505.80, -2.7%) and Tata Elxsi Ltd. (6,311, -1.1%).

 
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The Baseline
15 Jul 2025
Five stocks to buy from analysts this week - July 15, 2025
By Omkar Chitnis

1. Ujjivan Small Finance Bank:

BoB Capital Markets initiates coverage on this bank with a ‘Buy’ and a target price of Rs 59, an 18.8% upside. The bank is focusing on de-risking its balance sheet with a shift towards secured lending. This is reflected in the rising share of secured loan disbursements, to 40% in FY25 from 24% in FY24. 

Within the unsecured portfolio, the bank has moved towards higher-yielding individual loans (IL), over the past year. Analysts Niraj Jain and Vijaya Rao expect the bank’s advances to grow at a 19% CAGR over FY26–FY27, driven mainly by growth in the secured and IL segments.

Ujjivan’s asset quality remains better than its peers, with a gross NPA ratio of 2.2% as of March 2025, down 50 bps from the previous quarter. While slippages rose sharply during the year, most of them came from the microfinance (MFI) portfolio. This suggests that the asset quality of the secured, non-MFI portfolio has stayed largely healthy.

Jain and Rao expect credit costs to improve as stress in the MFI portfolio appears to have peaked. However, they believe credit costs may remain high in H1FY26, with a gradual normalisation expected in the second half. They expect this moderation in credit costs, once it happens, to be a key driver for improvement in the bank’s return metrics.

2. Gabriel India:

Anand Rathi initiates coverage on this auto parts company with a ‘Buy’ rating and target price of Rs 1,400, a 28% upside. Analysts Mumuksh Mandlesha and Shagun Beria expect Gabriel’s restructuring plans to merge its private automotive companies into Gabriel, increasing its revenue to Rs 8,100 crore from Rs 4,089 crore in FY26.

In FY25, its revenue grew by 8.9% to Rs 3,643.3 crore, supported by higher sales in two-wheelers and utility vehicles (UV). Analysts note that the company holds a dominant 70% share in EV automobile suspensions and expect strong growth from its rising passenger vehicle market share. They estimate revenue and net profit to grow by 22% and 53%, respectively, over FY26–27.

Analysts note that Gabriel has partnered with Inalfa Roof Systems, a supplier of automotive roof systems, to manufacture sunroofs, and expect this partnership to contribute revenue of Rs 10,000 crore by FY29. MD Atul Jagginotes, “The sunroof business is experiencing strong demand, supported by the higher sales of UVs and new vehicle launches. We plan to double sunroof production capacity in the second half of FY26 and expand the product portfolio.”

3. KEC International:

Axis Direct maintains a ‘Buy’ rating on this heavy electrical equipment firm with a target price of Rs 950, an 8.1% upside. The company has an order book worth over Rs 44,639 crore, with 61% from power transmission and distribution (T&D) and the remaining from other segments. Management expects total order inflows of Rs 30,000 crore during FY26, providing revenue visibility for the next 6 to 8 quarters. The company has guided for 15% revenue growth in FY26.

KEC International’s EBITDA margin stood at 6.9% in FY25 and is expected to improve going forward, supported by the execution of international T&D projects and other high-margin assignments. Management has guided for margins in the range of 8% to 8.5% in FY26. Analysts Uttam Srimal and Shikha Doshi project margins to further rise to 9% by FY27.

The stock has declined by 7.5% over the past six months as it has missed revenue estimates for the last two quarters, raising concerns over execution despite a strong order book. However, analysts are positive on KEC International, noting that the government is steadily increasing spending on infrastructure. They project a 55% net profit CAGR over FY26–FY27.

4. Larsen & Toubro (L&T):

Ventura initiates a ‘Buy’ rating on this construction company with a target price of Rs 4,448, a 27.3% upside. In FY25, revenue increased by 15.3% and profit rose by 15.1%, helped by higher order inflows and strong project execution.

Analysts note that rising government spending on rural and urban development, along with private spending on capacity expansion, is driving strong order inflows for L&T and supporting its expansion in the Middle East and North Africa (MENA) region. L&T’s order book nearly doubled from FY19 to Rs 5.8 lakh crore in FY25, supported by hydrocarbons, green energy, and power projects. Analysts project the order book to grow to Rs 8.9 lakh crore by FY28.

For FY26, management aims to achieve an order pipeline of Rs 19 lakh crore—a 57% growth over FY25—supported by new opportunities in the Middle East, where L&T has seen a steady stream of orders, and the South Asian Association for Regional Cooperation (SAARC) regions. Analysts expect L&T’s revenue and net profit to grow by 13.5% and 20.4%, over FY26–28.

R. Shankar Raman, CFO, notes, “Qatar, Saudi Arabia, the United Arab Emirates, and Kuwait are key international markets for L&T in terms of order inflow. In FY25, we secured 25% of international orders from the Saudi Arabian market, driven by higher capital expenditures from the governments of Saudi Arabia and the United Arab Emirates.” He also mentions that for FY26, they aim to achieve 60% of international revenue, up from 50%.

5. SRF:

Motilal Oswal reiterates a ‘Buy’ rating on this specialty chemical company with a target price of Rs 3,700, a 14.7% upside. Analysts Sumant Kumar and Meet Jain note that the company plans to incur capital expenditure (capex) of Rs 2,200–2,300 crore to expand its chemical production capacity, launch three new fluoropolymers, and increase packaging film capacity at its Indore facility.

Management expects strong performance in FY26, helped by a healthy order book in specialty chemicals, rising exports, and higher polytetrafluoroethylene (PTFE) sales in the fluorochemicals segment. The speciality chemicals business delivered an 18% CAGR in revenue over the past decade, and management projects 20% growth in FY26, driven by the ramp-up of newly commissioned facilities.

Analysts expect SRF's packaging business to benefit from the temporary closure of Jindal Poly’s manufacturing facility in Nashik following a fire outbreak, as well as the increased supply gap in the industry and the ramp-up of its aluminium foil capacity. They estimate SRF’s revenue and net profit to grow by 12% and 16%, respectively, 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
15 Jul 2025
Market closes higher, ICICI Prudential's Q1 net profit surges 34.2% YoY to Rs 301 crore
By Trendlyne Analysis

Nifty 50 closed at 25,195.80 (113.5, 0.5%), BSE Sensex closed at 82,570.91 (317.5, 0.4%) while the broader Nifty 500 closed at 23,449.15 (140.1, 0.6%). Market breadth is in the green. Of the 2,491 stocks traded today, 1,603 were on the uptrend, and 843 went down.

Indian indices closed in the green amid easing retail inflation and rising hopes of an RBI rate cut. The Indian volatility index, Nifty VIX, declined 4.2% and closed at 11.5 points. India's CPI inflation declined to a six year low of 2.1% in June from 2.8% in May, marking the lowest level since January 2019. The decline was mainly driven by price drops in key food items.

Nifty Midcap 100 & Nifty Smallcap 100 closed in the green, following the benchmark index. Nifty Capital Markets and BSE Auto were among the top index gainers today. According to Trendlyne’s Sector dashboard, Fertilizers emerged as the best-performing sector of the day, with a rise of 2.6%.

Asian indices closed higher, while European indices are trading in the green. US index futures traded in the green indicating a cautious start to the trading session. Nvidia has announced the resumption of H20 AI chip sales to China, following assurances from the US government regarding license approvals, with deliveries anticipated shortly. In parallel, market attention this week is squarely on the Q2 earnings announcements expected from six major banks, including JPMorgan Chase, Bank of America, and Goldman Sachs.

  • Money flow index (MFI) indicates that stocks like Syrma SGS Technology, Ramco Cements, Anand Rathi Wealth, and Global Health are in the overbought zone.

  • ICICI Prudential Life Insurance's Q1FY26 net profit surges 34.2% YoY to Rs 301 crore, driven by a 8% YoY growth in net premium income. However, revenue decreases marginally to Rs 25,320.2 crore during the quarter. The company appears in a screener of stocks with increasing profits every quarter for the past four quarters.

  • Yes Bank is rising as Sumitomo Mitsui Financial Group (SMFG) reportedly considers a $1.1 billion investment in the bank. SMFG plans to acquire a 5% stake from Carlyle Group and others, potentially increasing its total holding in Yes Bank to 25%.

  • Bank of Maharashtra is rising as its Q1FY26 net profit grows 16.2% YoY to Rs 1,504.4 crore, led by lower employee benefits and provisions expenses. Revenue jumps 16.4% YoY to Rs 7,879.2 crore, helped by improvements in the treasury operations, corporate and retail banking segments. The bank's asset quality improves as its gross and net NPA decline 11 bps and 2 bps YoY, respectively.

  • Warren Harris, MD & CEO of Tata Technologies, expects Q2 to outperform Q1FY26 and is confident of achieving 18% margins by Q4FY26. He emphasizes that Q2 performance will rely on the order book, customer engagement, and pipeline, rather than trade negotiation outcomes.

  • JTEKT India's board of directors approves a fundraising of up to Rs 250 crore through the rights issue of equity shares.

  • Tejas Networks plunges to its 52-week low of Rs 627.5 per share as it posts a net loss of Rs 193.9 crore in Q1FY26, compared to a net profit of Rs 77.5 crore in Q1FY25. Revenue drops 86.6% YoY to Rs 211.5 crore due to delays in new purchase orders. It shows up in a screener of stocks where promoters are decreasing their shareholding.

  • Oberoi Realty rises as the Committee of Creditors of Hotel Horizon approves a Rs 919 crore settlement plan submitted by a consortium including Oberoi Realty. The move allows the consortium to take over the distressed hotel asset, subject to National Company Law Tribunal (NCLT) approval.

  • Two-wheeler helmet maker STUDDS Accessories is set to launch its long-awaited IPO after receiving SEBI approval. The offering will be entirely an Offer for Sale (OFS) of up to 7.8 million equity shares. Promoters Madhu Bhushan Khurana, Sidhartha Bhushan Khurana, and Chand Khurana plan to offload up to 6.7 million shares.

  • Deven Choksey downgrades Tata Elxsi to a 'Sell' call from 'Hold', with a lower target price of Rs 4,965 per share. This indicates a potential downside of 22.3%. The brokerage is cautious on the stock due to slower-than-anticipated recovery in media and healthcare, weak revenue visibility, and a delayed margin normalisation trajectory. It expects the company's revenue to grow at a CAGR of 6% over FY26-27.

  • JM Financial initiates a ‘Buy’ rating on Kalyan Jewellers with a target price of Rs 700. The brokerage notes that Kalyan has transitioned from being a South-focused player to a pan-India player, which has helped it increase its profit before tax (PBT) margin to 4.4% in FY25, compared to 2.2% in FY18. They expect profit to grow at a CAGR of 31% over FY26-28.

  • KPI Green Energy is rising as it receives an order from Gujarat Urja Vikas Nigam (GUVNL) to build a 150 MW wind power plant. The order includes design, equipment supply and construction of the power plant.

  • Kotak Equities expects Tech Mahindra’s Q1FY26 revenue to decline, citing weakness in the hi-tech vertical and seasonal softness in the BPO segment, outweighing the seasonal boost from its subsidiary, Comviva. However, it projects a 30 bps rise in EBIT margin, driven by Project Fortius and net new deal wins of $750 million (approx. Rs 6,260 crore).

  • Life Insurance Corporation of India is rising as the Government of India appoints Managing Director (MD) R Doraiswamy as the new Chief Executive Officer (CEO) for three years, effective July 14.

  • Deepak Fertilisers & Petrochemicals Corp rises as it signs a Rs 1,200 crore liquefied natural gas (LNG) deal with Petronet LNG. Under the 20-year agreement, Petronet will supply LNG to Deepak Fertilisers’ Taloja unit in Maharashtra.

  • Mishra Dhatu Nigam is rising as it secures an order worth Rs 6,000 crore from Hindustan Aeronautics Limited (HAL) for the supply of specialised superalloys for aerospace applications.

  • The Society of Indian Automobile Manufacturers (SIAM) data reports a 3.4% YoY decline in domestic two-wheeler sales at 15.2 lakh units in June. Passenger vehicle sales decline 7.4% YoY to 3.1 lakh units. Three wheeler sales, however, were up by 3.8% to 61,828 units.

  • Patanjali Foods is rising as its board of directors schedules a meeting on July 17 to consider a proposal for issuing bonus shares.

  • Inox Wind's board of directors schedules a meeting on July 17 to consider raising funds by issuing equity shares or other securities.

  • Power Mech Projects is rising as it secures an order worth Rs 498.3 crore from SJVN Thermal. The order involves commissioning support and a maintenance contract for the coal-based supercritical Buxar Thermal Power Project (BTPP) in Bihar.

  • India's CPI inflation falls to a six year low of 2.1% in June from 2.8% in May, marking the lowest level since January 2019. The decline is mainly driven by price drop of key food items.

  • Rallis India surges to its all-time high of Rs 384.4 per share as its Q1FY26 net profit jumps 97.9% YoY to Rs 95 crore, driven by lower inventory and depreciation & amortisation expenses. Revenue grows 23% YoY to Rs 969 crore during the quarter. It appears in a screener of stocks with dividend yield greater than sector dividend yield.

  • Tata Technologies is rising sharply as its Q1FY26 net profit beats Forecaster estimates by 11% despite declining 9.8% QoQ to Rs 170.3 crore due to higher employee benefits and depreciation & amortisation expenses. Revenue decreases 2.6% QoQ to Rs 1,307.9 crore, caused by reductions in the services and technology solutions segments. It features in a screener of stocks with zero debt.

  • RailTel Corporation of India is rising as it receives an order worth Rs 264 crore from East Central Railway. The order is for installing Kavach, a train collision avoidance system, on 607 km of railway tracks.

  • HCL Technologies' Q1FY26 net profit declines 10.8% QoQ to Rs 3,843 crore due to lower employee utilisation on client projects and higher investments in Generative AI. However, revenue increases 0.3% QoQ to Rs 30,349 crore during the quarter. The company appears in a screener of stocks outperforming their industry price change in the quarter.

  • Nifty 50 was trading at 25,131.35 (49.1, 0.2%), BSE Sensex was trading at 82,233.16 (-20.3, 0.0%) while the broader Nifty 500 was trading at 23,397.85 (88.8, 0.4%).

  • Market breadth is surging up. Of the 2,004 stocks traded today, 1,688 were on the uptick, and 271 were down.

Riding High:

Largecap and midcap gainers today include Hero MotoCorp Ltd. (4,454, 4.8%), Patanjali Foods Ltd. (1,744.50, 4.2%) and HDFC Asset Management Company Ltd. (5,283.50, 3.8%).

Downers:

Largecap and midcap losers today include HCL Technologies Ltd. (1,566.40, -3.3%), JSW Infrastructure Ltd. (310, -2.2%) and IDBI Bank Ltd. (98.14, -2.1%).

Volume Rockets

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

Top high volume gainers on BSE included Swan Energy Ltd. (502.25, 11.4%), Sobha Ltd. (1,647.60, 6.7%) and Anant Raj Ltd. (607.20, 6.3%).

Top high volume losers on BSE were Inox Wind Ltd. (164.75, -6.7%), Tejas Networks Ltd. (653.20, -6.5%) and Ola Electric Mobility Ltd. (44.10, -6.3%).

Nuvoco Vistas Corporation Ltd. (365.30, 1.3%) was trading at 10.0 times of weekly average. Rashtriya Chemicals & Fertilizers Ltd. (156.36, 3.3%) and Aether Industries Ltd. (824.20, 6.2%) were trading with volumes 8.6 and 6.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

14 stocks overperformed with 52 week highs, while 1 stock hit their 52 week lows.

Stocks touching their year highs included - Ceat Ltd. (3,861.70, -1.2%), EID Parry (India) Ltd. (1,160.70, 0.3%) and Gillette India Ltd. (10,998, 2.9%).

Stock making new 52 weeks lows included - Tejas Networks Ltd. (653.20, -6.5%).

25 stocks climbed above their 200 day SMA including Hero MotoCorp Ltd. (4,454, 4.8%) and KEI Industries Ltd. (3,892.40, 4.3%). 7 stocks slipped below their 200 SMA including C.E. Info Systems Ltd. (1,797, -0.7%) and Metropolis Healthcare Ltd. (1,871.10, -0.5%).