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Trendlyne Marketwatch
25 Sep 2025, 01:45PM
Market trades lower, Swan Energy signs MoU with Royal IHC
By Trendlyne Analysis

Nifty 50 was trading at 24,974.05 (-82.9, -0.3%) , BSE Sensex was trading at 81,448.84 (-266.8, -0.3%) while the broader Nifty 500 was trading at 23,110.90 (-67.4, -0.3%). Market breadth is in the red. Of the 2,494 stocks traded today, 885 were on the uptrend, and 1,561 went down.

Nifty 50 opens flat, after losing 22.4 points in the pre-opening session. Indian indices closed in the red on Wednesday. FIIs sold shares worth Rs 2,425.8 crore, while DIIs bought Rs 1,211.7 crore in Indian equities on the same day.

Nifty Smallcap 100 and Nifty Midcap 100 open flat. Nifty Auto opens lower, while Nifty PSU Bank opens flat. Nifty IT opens in the red, tracking the tech-heavy Nasdaq 100 index, which closed 0.3% lower on Wednesday.

European indices ended mixed on Wednesday. Major Asian indices are trading with varied trends. US indices closed in the red on Wednesday, with the Dow Jones and S&P 500 closing 0.4% and 0.3% lower, respectively. Alibaba closed 8.2% higher on Wednesday as it announced plans to ramp up AI spending beyond its original $50 billion+ target.

  • Optiemus Infracom rises sharply as it signs a binding term sheet with London-based Nothing Electronics for a joint venture. The JV will invest over $100 million (Rs 887 crore) in India over three years to manufacture Nothing and CMF electronic products.

  • Alembic Pharmaceuticals rises as it receives approval from the US FDA for its abbreviated new drug application (ANDA) for Paroxetine Extended-Release tablets. The tablets are a therapeutic equivalent to the reference listed drug product (RLD), Paxil CR Extended-Release tablets of Apotex Inc and are used to treat depressive disorders. The drug had a market size of $1.2 billion in the US in 2024.

  • Swan Energy & Heavy Industries surges to its all-time high of Rs 577.1 per share as it signs a memorandum of understanding (MoU) with Europe's Royal IHC to build offshore construction, pipe laying, and multi-purpose offshore support vessels.

  • Maharashtra Seamless is rising as it bags an order worth Rs 256 crore for the supply of seamless pipes in the oil & gas sector.

  • Angshu Mallick, CEO & MD of AWL Agri Business, anticipates a strong second half, with robust consumption continuing through March, driven by a good monsoon and improved kharif crop output. He expects edible oil volumes to see strong single-digit growth and the food segment to achieve double-digit growth. Overall, he forecasts turnover to exceed Rs 60,000–65,000 crore in FY26.

  • Lupin rises as it receives tentative approval from the US FDA for its abbreviated new drug application (ANDA) for Bictegravir, Emtricitabine, and Tenofovir Alafenamide tablets. The tablets are bioequivalent to Gilead Sciences' Biktarvy tablets and are used to treat HIV infection in adults and pediatric patients. According to IQVIA, the tablets have a market size of $16.2 billion in the US.

  • iValue Infosolutions' shares debut on the bourses at a 4.7% discount to the issue price of Rs 299. The Rs 560.3 crore IPO received bids for 1.8 times the total shares on offer.

  • KPI Green Energy is rising as it secures a Rs 3,200 crore partial financing from State Bank of India for its 250 MW solar project and 370 MW hybrid project in Gujarat.

  • HSBC upgrades both Nestle and Britannia Industries to a 'Hold' rating and raises the target prices to Rs 1,270 and Rs 6,140, respectively. The brokerage anticipates a consumer sector recovery, supported by a favourable base, tax cuts, and GST reductions. While structural issues persist, combined policy measures could boost demand, particularly in urban areas, which have been weak for over a year. Rural demand remains strong, reflected in real wage growth.

  • Waaree Energies invests Rs 300 crore in its subsidiary, Waaree Energy Storage Solutions, through a rights issue. The funds will be used to set up a lithium-ion advanced chemistry storage cell manufacturing plant to expand its energy storage capabilities.

  • Poly Medicure rises sharply as it acquires Medistream SA, parent of Citieffe SRL and its US and Mexico subsidiaries, for Rs 324 crore. Italy-based Citieffe specialises in orthopaedic trauma and extremities, with distribution across over 25 countries.

  • Tata Steel invests Rs 4,054.7 crore into its Singapore unit, T Steel Holdings Pte, by acquiring 457.7 crore equity shares. This follows multiple infusions made between May and August to strengthen the company’s international operations.

  • Nuvama Institutional Equities reiterates its 'Hold' rating on Sun Pharmaceutical Industries with a target price of Rs 1,830. The brokerage maintains a cautious outlook despite the company's domestic growth drivers and focus on innovation. It highlights ongoing management changes, plans to expand the field force, and initial progress in the US innovative segment. However, it expects field force productivity to stay largely flat until the pace of new additions slows.

  • Jaykay Enterprises surges to its all-time high of Rs 224.5 per share as its joint venture (JV) with Phillips Machine Tools India bags a Rs 139.4 crore order from Ircon International. The order includes the design, supply, installation, commissioning, & training of various types of conventional machinery for MSME training centres.

  • Polycab India's promoters reportedly plan to sell 12 lakh shares worth Rs 880 crore through a block deal at a floor price of Rs 7,300 per share.

  • Fineotex Chemical surges more than 10% as its board of directors schedules a meeting on September 27 to consider proposals for a stock split and bonus issue.

  • Dalmia Bharat falls as it receives a Rs 377.3 crore order from the Hyderabad Government for alleged violations of provisions under the Prevention of Money Laundering Act, 2002 (PMLA).

  • Nifty 50 was trading at 25,041.55 (-15.4, -0.1%), BSE Sensex was trading at 81,574.31 (-141.3, -0.2%), while the broader Nifty 500 was trading at 23,167.50 (-10.8, -0.1%).

  • Market breadth is in the red. Of the 2,036 stocks traded today, 838 were on the uptick, and 1,116 were down.

Riding High:

Largecap and midcap gainers today include Oil India Ltd. (417.45, 2.7%), Adani Power Ltd. (148.30, 2.6%) and Bharat Electronics Ltd. (405.35, 2.5%).

Downers:

Largecap and midcap losers today include Kalyan Jewellers India Ltd. (464, -3.2%), Tata Motors Ltd. (665.10, -2.6%) and Asian Paints Ltd. (2,397, -2.5%).

Movers and Shakers

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

Top high volume gainers on BSE included KIOCL Ltd. (464.60, 4.7%), Newgen Software Technologies Ltd. (909.50, 3.9%) and V-Guard Industries Ltd. (375.50, 2.7%).

Oil India Ltd. (417.45, 2.7%) was trading at 3.2 times of weekly average.

BSE 500: highs, lows and moving averages

3 stocks hit their 52 week highs, while 7 stocks tanked below their 52 week lows.

Stocks touching their year highs included - CreditAccess Grameen Ltd. (1,413.40, 1.6%), Amber Enterprises India Ltd. (8,481.50, 0.9%) and Asahi India Glass Ltd. (924.50, 1.2%).

Stocks making new 52 weeks lows included - Tata Consultancy Services Ltd. (2,978.50, -1.9%) and United Breweries Ltd. (1,776.10, -1.1%).

9 stocks climbed above their 200 day SMA including V-Guard Industries Ltd. (375.50, 2.7%) and Oil India Ltd. (417.45, 2.7%). 20 stocks slipped below their 200 SMA including Ola Electric Mobility Ltd. (55.29, -2.8%) and Tata Motors Ltd. (665.10, -2.6%).

 
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The Baseline
25 Sep 2025, 12:17PM
By Divyansh Pokharna

India’s equity market has been a tale of contrasts. The Nifty 500 slipped 2.9% over the year as foreign investors pulled back funds, rattled by global tariffs, moving capital to less expensive markets like China.

However, the last six months painted a different picture. The market bounced back, with the Nifty 500 climbing 11.5%. This turnaround was largely thanks to Indian investors who poured money into the market through regular investment plans and institutional funds. Government spending on big projects in infrastructure and defense also gave a significant boost to companies in those sectors. This recovery points to strong local investment and government policies balancing out global economic challenges.

Digging deeper, we see a divided market. Sectors like defence and electric vehicles (EVs) delivered impressive returns, while media and IT stocks struggled. According to Kotak Institutional Equities, this proves that simply having a steady flow of money into the market doesn't guarantee that it will rise. The firm advises investors to go back to basics and focus on a company's earnings and true value, rather than just relying on investment trends.

In this edition of Chart of the Week, we track the performance of sectoral and group indices over the past year. The analysis shows gains in defense, EV, and quality-focused indices, with steep declines in IT, media, utilities, and Tata Group indices.

Defence and EVs lead the charge

Two of the year's biggest success stories were the Nifty India Defence and the Nifty EV & New Age Automotive indices, which shot up by 33.1% and 25.7% respectively. The government's "Make in India" push has increased demand for locally made defense gear, benefiting companies like Hindustan Aeronautics, Bharat Electronics, and Mazagon Dock..

Similarly, the production-linked incentive (PLI) scheme has helped car manufacturers like Mahindra & Mahindra and Eicher Motors expand their electric vehicle lines. Mahindra has launched new EV models, while Eicher has rolled out electric trucks. Over the past year, Mahindra & Mahindra's stock has risen by 22.5%, and Eicher has seen a 40.8% jump, with government support and shifting consumer tastes powering India’s EV market.

Smart picks: How quality and strategy boosted gains

Aside from investing in specific themes, three other market indices delivered solid returns by focusing on smart diversification and strong company fundamentals. The Nifty500 Equal Weight, the Nifty Smallcap250 Quality 50, and the Nifty India New Age Consumption indices saw gains of 25.5%, 23.5%, and 24.4%, respectively.

The Nifty500 Equal Weight index has a simple but effective strategy: it treats all 500 companies it tracks equally, no matter their size. This approach lessens the impact of a few giant corporations, giving smaller, faster-growing companies a chance to shine.

Another standout was the Nifty Smallcap250 Quality 50 index. This index is made up of smaller companies that are profitable, have steady earnings, and low debt. This focus on quality benefited companies like eClerx Services and Manappuram Finance, which rose by 62.7% and 38.6% over the last year. The index's success is even more impressive when compared to the broader Nifty Smallcap 250 index, which actually fell 4.2% during the same period.

Finally, the Nifty India New Age Consumption index tracks how people's spending habits are changing. It includes companies in areas like real estate, digital services, and travel—the kinds of things people spend on as their incomes grow. The success of companies such as Vishal Mega Mart and Paytm shows this shift toward online shopping and premium experiences.

Together, these three indices show that there are many paths to strong returns. Instead of just chasing high-growth sectors, they suggest that spreading investments widely, picking financially healthy companies, and paying attention to consumer trends can also lead to big gains while managing risk.

The laggards: IT and media face disruption

On the flip side, the BSE IT Sector fell by 17.9%. A slowdown in the global economy led clients in the US and Europe to cut back on technology spending, which hurt major players like TCS and Infosys. The rapid rise of artificial intelligence has also created new challenges, forcing these companies to rethink their business strategies.

The Nifty Media index fared even worse, dropping 23% as it struggled to adapt to the digital age. Traditional advertising revenue from TV and newspapers is drying up as audiences move to streaming services, and movie theaters are facing tough competition from on-demand platforms. The failed merger between Zee and Sony added to the sector's problems, impacting companies like Zee Entertainment, PVR INOX, and Sun TV Network.

For both IT and media, the main problem is relying too heavily on old business models. The IT industry's outsourcing services are being challenged by AI, while traditional media is losing out to digital content. Without major changes, a quick recovery for these sectors looks unlikely.

Heavyweights underwater: Utilities, power, and Tata Group lag behind

The S&P BSE Utilities index fell 18.3% over the past year, largely due to heavy losses in Adani Group companies.

Although the Securities and Exchange Board of India (SEBI) recently dismissed the Hindenburg allegations, which caused a recent rally in Adani stocks, Adani Group shares are still down for the year. Companies like Adani Green Energy and Adani Energy Solutions have dragged down the entire utilities sector.

Similarly, the BSE Power index dropped 19% as the sector's growth slowed. Beyond the issues with Adani, other major companies also stumbled. Thermax, for example, faced problems with project execution and shrinking profits. These issues made the power sector less appealing to investors, who turned their attention to booming areas like defense and infrastructure.

The Nifty Tata Group 25% Cap index also saw a significant drop, falling 17.1%. Some of the group's biggest names, including Tata Motors, Trent and TCS, pulled the index down. Tata Motors was hit by a slowdown in its Jaguar Land Rover unit due to weaker demand and trade pressures, while TCS felt the effects of the global cutback in IT spending.

 
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Trendlyne Marketwatch
24 Sep 2025, 04:09PM
Market closes lower, Reliance to invest Rs 1,156 cr in TN manufacturing unit
By Trendlyne Analysis

Nifty 50 closed at 25,056.90 (-112.6, -0.5%) , BSE Sensex closed at 81,715.63 (-386.5, -0.5%) while the broader Nifty 500 closed at 23,178.25 (-147, -0.6%). Market breadth is overwhelmingly negative. Of the 2,551 stocks traded today, 788 were gainers and 1,722 were losers.

Indian indices closed in the red as persistent foreign outflows overshadowed hopes of a festive-season boost to consumption. The Indian volatility index, Nifty VIX, declined 1.3% and closed at 10.4 points. Swiggy closed 2.3% lower as its board of directors approved the sale of its quick commerce business, Instamart, to its step-down subsidiary, Scootsy Logistics, at a book value of Rs 2,976.7 crore.

Nifty Midcap 100 & Nifty Smallcap 100 closed in the red, following the benchmark index. Nifty Realty and BSE Realty Index were among the top index losers today. According to Trendlyne’s Sector dashboard, Utilities emerged as the worst-performing sector of the day, with a fall of 2%.

Asian indices closed mixed, while European indices are trading in the red. US index futures traded higher indicating a positive start to the trading session. S&P Global’s US composite PMI fell to 53.6 in September from 54.6 last month, missing expectations. Meanwhile, the US plans further changes to the H-1B visa program, with the Department of Homeland Security proposing a shift from the current lottery system to a weighted selection process.

  • Relative strength index (RSI) indicates that stocks like Tata Investment Corp, Maruti Suzuki, Adani Enterprises, and Axis Bank are in the overbought zone.

  • ICICI Securities initiates coverage on South Indian Bank with a 'Buy' call and a target price of Rs 38 per share. This indicates a potential upside of 27.1%. The brokerage believes that the management's pivot towards higher-yielding retail & micro, small & medium enterprises (MSME) lending, with a reduction in legacy book, will improve asset quality. It expects the bank's net interest income (NII) to grow at a CAGR of 9% over FY26-27.

  • Bhansali Engineering Polymers falls as it plans to reduce its expansion plans to add 25 kilo tonnes per annum (KTPA). The company earlier planned to add 125 KPTA of capacity with a capex of Rs 1,700 crore. This move enables the company to fund the expansion through internal accruals.

  • Reliance Industries' unit, Reliance Consumer Products, to invest Rs 1,156 crore to set up a manufacturing facility at SIPCOT Allikulam Industrial Park in Tamil Nadu. The unit will produce biscuits, spices, wheat flour, edible oil, and more.

  • GAIL's board approves the expansion of the Jamnagar-Loni Petroleum Product (JLPL) LPG pipeline capacity from 3.3 million metric tonnes per annum (MMTPA) to 6.5 MMTPA. The company plans to invest Rs 5,363.9 crore in the project, which is scheduled for completion within 36 months.

  • Dabur India rises as its tax demand drops to Rs 272 crore from Rs 321 crore. The reduction comes after orders from the local assistant commissioner, following directions from the CGST Appeals Commissionerate in Chandigarh.

  • ideaForge Technology is rising as it forms a 50:50 joint venture (JV) with First Breach to manufacture and distribute unmanned aerial vehicles (UAVs) in the US.

  • NTPC is rising as it reportedly seeks government approval to acquire nuclear reactors in bulk with a capacity of 700-1,730 MW.

  • Sandeep Poundrik, Secretary at the Ministry of Steel, expects steel consumption to grow by 9–10% in FY26, supported by GST measures. He notes a sharp decline in steel imports from China compared to last year amid safeguard duties. The current safeguard duty remains in place until the first week of November. Poundrik also highlights the government's target to reach a production capacity of 300 metric tonnes by 2030.

  • Canara Bank, Indian Bank, and Bank of India rise as the government reportedly plans to raise foreign investment limits in PSU banks from 20% to 49%, while retaining a majority 51% stake. The move is expected to boost capital inflows into the sector.

  • Oil & Natural Gas Corp is rising as it reportedly plans to acquire 2.5-3 gigawatt (GW) of renewable energy projects by 2030. This will more than double the company's current renewable energy capacity of 2.5 GW.

  • Torrent Pharmaceuticals receives approval from South Africa's Competition Commission to acquire a controlling stake in JB Chemicals & Pharmaceuticals from KKR.

  • Global research firm HSBC upgrades India’s equities to ‘Overweight’, citing attractive valuations, supportive government policies, and steady domestic investor flows. It projects the Sensex could reach 94,000 by 2026-end, an upside of over 13% from current levels. The move reflects a shift in HSBC’s regional strategy, positioning India as a more appealing market amid broader volatility in Asia.

  • VIP Industries’ board approves the appointment of Atul Jain as the Managing Director (MD) for five years, succeeding Neetu Kashiramka, effective September 23.

  • 360 One Wam rises as it receives approval from the National Company Law Tribunal (NCLT) to merge its subsidiary, MAVM Angels Network (MVAM), into its arm, 360 ONE Distribution Services (DSL).

  • Kaynes Technology is rising as its board of directors appoints Muthukumar Narayanaswamy as the Managing Director for five years, effective September 24.

  • Ashok Leyland declines as Goldman Sachs downgrades its rating to 'Neutral' with a target price of Rs 140. The brokerage sees limited upside, as gains from the shift to higher-tonnage vehicles and margin improvement are largely priced in. However, it highlights potential upside risks from increasing replacement demand and stronger consumption-driven sectors. Additional growth drivers include better-than-expected performance in light commercial vehicles, particularly Ashok Leyland’s new Saathi range.

  • Minda Corp surges as it projects a 3.4X revenue growth to Rs 17,500 crore by 2030 from Rs 5,100 crore in FY25. It also expects EBITDA margin to rise from 11.4% to over 12.5%, net debt-to-equity to halve to 0.3X, and return on capital employed (ROCE) to cross 25%.

  • Imperial Chemical Industries is reportedly set to offload up to a 5% stake in Akzo Nobel India through a Rs 742.7 crore block deal. The floor price for the transaction is fixed at Rs 3,261.8 per share.

  • Torrent Power acquires a 51% stake (or 12 lakh shares) in Newzone India and a 100% stake (or 30 lakh shares) in Newzone Power Projects for Rs 211 crore.

  • Elara initiates coverage on CarTrade Tech with a 'Buy' rating and target price of Rs 3,590. The brokerage believes OLX India’s acquisition has strengthened C2C auto classifieds, expanded categories, and boosted lead generation and pricing power. It highlights strong cash flows and strategic investments in tech, EVs, and remarketing, supporting growth with a solid balance sheet. Elara projects a revenue CAGR of 25–28%, with EBITDA margin rising to 30.6% by FY28.

  • VMS TMT's shares debut on the bourses at a 6% premium to the issue price of Rs 99. The Rs 148.5 crore IPO received bids for 102.3 times the total shares on offer.

  • Bajaj Electricals surges more than 10% as its board of directors approves the acquisition of the Morphy Richards brand in India, Nepal, Bhutan, Bangladesh, Maldives, and Sri Lanka from Glen Electric for Rs 146 crore.

  • Swiggy falls as its board of directors approves the sale of its quick commerce business, Instamart, to its step-down subsidiary, Scootsy Logistics, at a book value of Rs 2,976.7 crore. The board also approves selling 10 shares and 1.6 lakh compulsorily convertible preference shares (CCPS) in Roppen Transportations Services (Rapido) to MIH Investments One BV for Rs 1,968 crore.

  • Dilip Buildcon rises sharply as its joint venture (JV) with PSP bags a Rs 1,115.4 crore order for infrastructure works at Pudussery Central & Kannambra of Palakkad Node in Kerala. The company will undertake the design, construction, testing, commissioning, and operation & maintenance of the Kerala industrial corridor.

  • Nifty 50 was trading at 25,092.30 (-77.2, -0.3%), BSE Sensex was trading at 81,917.65 (-184.5, -0.2%), while the broader Nifty 500 was trading at 23,252.50 (-72.8, -0.3%).

  • Market breadth is in the red. Of the 2,079 stocks traded today, 761 were on the uptick, and 1,255 were down.

Riding High:

Largecap and midcap gainers today include Jubilant Foodworks Ltd. (630.40, 2.2%), Pidilite Industries Ltd. (1,519.50, 2.0%) and Indian Bank (708.20, 1.9%).

Downers:

Largecap and midcap losers today include Adani Power Ltd. (144.50, -11.0%), Adani Total Gas Ltd. (667.30, -7.7%) and Godrej Properties Ltd. (2,019.10, -4.0%).

Volume Rockets

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

Top high volume gainers on BSE included Tata Investment Corporation Ltd. (8,863.50, 8.9%), Minda Corporation Ltd. (579.10, 8.3%) and Deepak Fertilisers & Petrochemicals Corporation Ltd. (1,580.30, 4.1%).

Top high volume losers on BSE were Ingersoll-Rand (India) Ltd. (3,978.20, -0.6%), Aether Industries Ltd. (736.80, -0.6%) and Akzo Nobel India Ltd. (3,390.10, -0.1%).

Himadri Speciality Chemical Ltd. (467.85, 3.6%) was trading at 27.8 times of weekly average. Shyam Metalics and Energy Ltd. (918.80, 1.8%) and Go Digit General Insurance Ltd. (358.85, 0.8%) were trading with volumes 4.6 and 4.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

13 stocks hit their 52 week highs, while 2 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Bajaj Finance Ltd. (1,029.75, 0.4%), Canara Bank (122.91, 0.8%) and Indian Bank (708.20, 1.9%).

Stocks making new 52 weeks lows included - Crompton Greaves Consumer Electricals Ltd. (300.05, -1.7%) and Praj Industries Ltd. (369.40, -2.9%).

4 stocks climbed above their 200 day SMA including Himadri Speciality Chemical Ltd. (467.85, 3.6%) and Premier Energies Ltd. (1,044.70, 3.2%). 28 stocks slipped below their 200 SMA including PB Fintech Ltd. (1,735.20, -3.7%) and DLF Ltd. (733.65, -3.4%).

 
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The Baseline
23 Sep 2025, 06:11PM
Five stocks to buy from analysts this week - September 23, 2025
By Abdullah Shah

1. Bharti Airtel: 

Geojit BNP Paribas maintains its ‘Buy’ rating on this telecom provider, with a target price of Rs 2,123, an upside of 9.5%. Analyst Gopika Gopan attributes the positive outlook to the company's significant expansion in its fixed wireless access (FWA) and home-pass networks. 

In Q1FY26, Bharti Airtel's revenue grew 28.6% YoY to Rs 49,971.4 crore, fueled by strong performance in the Indian market and a recovery in Africa. Growth in India was driven by steady performance in mobile and home services, with an average revenue per user (ARPU) of Rs 250. Net profit surged 43% YoY to Rs 5,947.9 crore due to lower access charges. The company also added 7 lakh postpaid customers during the quarter, bringing its total base to 2.7 crore.

Gopan highlights that the company's portfolio premiumisation and continued growth in 5G shipments will drive performance across all segments. She adds that its focus on acquiring high-quality customers and expanding its fibre and FWA networks will be catalysts for margin growth. She expects revenue and net profit to grow at a CAGR of 16.7% and 25.2%, respectively, over FY26-27.

2. Jindal Stainless:

ICICI Direct reiterates its ‘Buy’ rating on this iron/steel products manufacturer with a target price of Rs 940, indicating an upside of 17.4%. Analysts Shashank Kanodia and Manisha Kesari cite industry tailwinds and capacity expansion as key drivers for long-term growth. They also expect margin expansion from a richer product mix, and increased backward integration.

Analysts note that India's stainless steel demand is projected to grow at a 7% CAGR to 6.5 MTPA by FY30, driven by applications in the automotive and process industries. Additionally, emerging sectors like green hydrogen, nuclear energy, and defence offer demand visibility. The company is well-positioned to capitalise on this growth, with plans to establish a 1.2 MTPA melting shop in Indonesia by FY27, lifting total capacity to 4.2 MTPA.

Kanodia and Kesari highlight the management's focus on expanding its downstream capacity with new hot-rolled and cold-rolled processing lines in Odisha. The acquisition of a 0.6 MTPA cold rolling mill in Gujarat and a joint venture for a 2 lakh MTPA nickel pig iron plant are also expected to improve margins. Analysts expect the company to deliver revenue, EBITDA, and net profit CAGRs of 9.2%, 12.2%, and 16.3% respectively, over FY26-28.

3. Prince Pipes & Fittings:

Motilal Oswal retains a ‘Buy’ rating on this smallcap plastic pipes & fittings manufacturer with a target price of Rs 440, an upside of 27.6%. Analysts Meet Jain and Sumant Kumar expect medium-term growth to be driven by new capacity in Bihar, expansion of the chlorinated polyvinyl chloride (CPVC) business, and rising demand in tier-2/3 markets. They also forecast margin expansion from higher utilisation and a richer product mix.

While management acknowledges Q2 is a seasonally weak quarter, it anticipates a recovery in H2FY26. This rebound is expected to be driven by inventory restocking, GST-related demand for building materials, and increased consumption. The company plans to commission a new facility in Bihar by the end of H1FY26, adding 45-50 kilotonnes per annum of capacity and strengthening its foothold in the high-potential East India market.

Analysts believe the company is well-positioned to increase its market share in the CPVC business, supported by its partnership with Lubrizol for CPVC compounds. Additionally, government schemes like PMAY (Housing for All) are expected to drive demand over the medium term. Jain and Kumar forecast the company to deliver revenue, EBITDA, and net profit CAGRs of 14.4%, 45.8%, and 100% respectively, over FY26-27.

4. GR Infraprojects:

Axis Securities maintains its ‘Buy’ call on this infrastructure company with a target price of Rs 1,540, an upside of 19.7%. Analysts Uttam Kumar Srimal and Shikha Doshi believe the company is poised for growth, citing the government's strong push for infrastructure as a key driver for FY26. They expect this national focus on capital expenditure and public-private partnerships to enhance connectivity and drive economic growth.

The company's order book of Rs 19,179 crore in FY25, supplemented by Rs 5,166 crore in lowest-bidder projects, provides strong revenue visibility. With 30 active projects nationwide, analysts highlight the company's proven execution capabilities and effective project management.

GR Infraprojects is actively diversifying beyond its core roads and highways portfolio into sectors like railways, tunnels, ropeways, and power transmission. It is also exploring new opportunities in multi-modal logistic parks, airport runways, and renewable energy projects.

Srimal and Doshi anticipate a robust bidding pipeline in engineering, procurement, and construction (EPC) and hybrid annuity model (HAM) projects to drive strong order intake. Consequently, they forecast the company will deliver a revenue and net profit CAGR of 12.5% and 8.4% over FY26-27.

5. Abbott India:

Sharekhan retains its ‘Buy’ rating on this pharmaceutical company, with a target price of Rs 34,470, an upside of 14%. Analysts believe a strong distribution network, continued expansion into tier-II & III cities, and a healthy product pipeline will fuel topline growth.

In Q1FY26, Abbott India's revenue and net profit both grew 11.5% YoY. Strong brand performance and marketing initiatives drove revenue growth, while lower raw material costs bolstered profitability. Underscoring its innovation, the company has launched over 100 products in the last 12 years, positioning it for sustained performance through a mix of legacy brands and new offerings.

Analysts identify the company's strong brand recall as a key growth driver, supported by the upcoming marketing and distribution of Novo Nordisk's GLP-1 in India, which should provide a near-term catalyst. Sharekhan forecasts the firm’s revenue and net profit to deliver a CAGR of 9.4% and 12.6% over FY26-27E, respectively.

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
23 Sep 2025, 03:57PM
Market closes lower, Tata Motors’ JLR extends production halt till Oct 1
By Trendlyne Analysis

Nifty 50 closed at 25,169.50 (-32.9, -0.1%), BSE Sensex closed at 82,102.10 (-57.9, -0.1%) while the broader Nifty 500 closed at 23,325.25 (-56.2, -0.2%). Market breadth is in the red. Of the 2,547 stocks traded today, 990 showed gains, and 1,518 showed losses.

Indian indices closed lower after switching between gains and losses throughout the day. The Indian volatility index, Nifty VIX, rose 0.6% and closed at 10.6 points. Tata Investment Corp closed 10.4% higher as its board of directors approved a 1:10 stock split, setting October 14 as the record date.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower. Nifty PSU Bank and Nifty Metal were among the best-performing indices of the day. According to Trendlyne’s sector dashboard, FMCG emerged as the worst-performing sector of the day, with a fall of 1.6%.

European indices are trading higher. Major Asian indices closed with varied trends. US index futures are trading flat, indicating a cautious start to the session as investors await comments from the Federal Reserve Chair Jerome Powell. Meanwhile, Micron Technology, Autozone, and Worthington Enterprises are set to report their earnings today.

  • Money flow index (MFI) indicates that stocks like Adani Total Gas, Usha Martin, Adani Enterprises, and MMTC are in the overbought zone.

  • KNR Constructions receives a letter of acceptance (LoA) for a Rs 459.1 crore infrastructure project in Telangana. The engineering, procurement, and construction (EPC) contract includes building multi-level flyovers, grade separators, and widening key roads. The project is scheduled for completion within 24 months.

  • HEG’s board of directors approves an unsecured loan of Rs 210 crore to its associate Bhilwara Energy. The loan, with an annual interest rate of 9%, will be disbursed in tranches and has a one-year tenure.

  • Tata Motors’ UK-based subsidiary, Jaguar Land Rover, extends its production halt till October 1 due to a recent cybersecurity breach. Reports suggest that JLR’s car production may remain suspended until November.

  • India's flash PMI eases to 61.9 in September, a slight slowdown from 63.2 in August, but still shows strong expansion. This is the second-best reading in over two years. Manufacturing growth outpaces services, though both sectors record moderate gains. HSBC Chief India Economist Pranjul Bhandari says Trump's 50% tariff on India likely contributed to the slower rise in new export orders during August and September.

  • Axis Direct retains its 'Buy' call on JSW Energy with a target price of Rs 705 per share. This indicates a potential upside of 29.3%. The brokerage remains positive on the stock due to its strong execution capabilities and diversified portfolio. It expects the firm's revenue to grow at a CAGR of 35.6% over FY26-28.

  • Brigade Enterprises signs a joint development agreement to build a premium residential project in Banashankari, Bengaluru. The 7.5-acre project has a gross development value (GDV) of around Rs 1,200 crore.

  • Hindustan Construction rises sharply as it bags two orders worth Rs 2,566 crore from the Patna Metro Rail Corp (PMRCL) to construct 10.7 km of underground tunnels and six metro stations for the Patna Metro Rail project.

  • Avendus Spark initiates coverage on Premier Energies with an 'Accumulate' rating and a target price of Rs 1,100. The brokerage notes that Premier Energies is a relatively new entrant in the renewable space. Despite debuting at a 120% premium to its issue price in September 2024, the stock currently trades slightly above its listing level. The brokerage sees potential for the solar company, projecting 44% CAGR in production along with healthy gross margins of 36%.

  • Coal India's subsidiary, Bharat Coking Coal, receives approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO).

  • Shilpa Medicare rises as it receives initial authorisation from the European Medicines Agency (EMA) for its Rivaroxaban Orodispersible Films, a generic version of Bayer’s Xarelto. The drug is used to prevent and treat blood clots in patients. The European oral Rivaroxaban market is valued at around $2.5 billion.

  • JK Lakshmi Cement expands its capacity to 18 metric tonnes per annum (MTPA) from 16.5 MTPA by adding a 13.5 lakh tonnes per annum grinding unit in Surat.

  • Citi rates Vodafone Idea as a 'High-Risk Buy' with a target price of Rs 10. The brokerage highlights that the Supreme Court's acceptance of Vodafone Idea’s latest AGR plea, combined with government backing, has increased the chances of a potential relief for the company.

  • ICICI Direct maintains its 'Buy' call on Apollo Tyres, with a target price of Rs 565 per share. This indicates a potential upside of 14.8%. The brokerage remains positive on the stock as it expects GST 2.0 reforms to increase demand in the auto sector in the near to medium term, with margins showing signs of recovery. It expects the firm's net profit to grow at a CAGR of 30.6% over FY26-27.

  • Vedanta falls as the Centre denies its request to extend the production sharing contract for the CB-OS/2 offshore oil and gas block in Gujarat’s Cambay basin. The company's subsidiary, Vedanta Cairn Oil and Gas, held a 40% stake in the block.

  • Tata Investment Corp rises as its board of directors approves a 1:10 stock split, sets record date as October 14.

  • Nomura retains a 'Buy' rating on Hyundai Motor India with a target price of Rs 2,846. The brokerage projects earnings per share (EPS) to grow at a 27% CAGR over FY26-28, supported by a strong model cycle, an increasing SUV mix, and a growing share of exports. It views the company as a major beneficiary of the changing dynamics in the Indian automotive sector.

  • Birla Corp's subsidiary, RCCPL, emerges as the preferred bidder for the 3.3 sq. km. Guda-Rampur Limestone & Manganese block in an auction held by the Telangana Government.

  • Rail Vikas Nigam emerges as the lowest bidder for a Rs 145.4 crore Southern Railway project. The contract includes building and setting up traction substations, integrating control systems, and installing automatic fault detectors across the Jolarpettai–Salem section.

  • Euro Pratik Sales' shares debut on the bourses at a 10.2% premium to the issue price of Rs 247. The Rs 451.3 crore IPO received bids for 1.3 times the total shares on offer.

  • S&P Global Ratings projects India will continue to be one of the fastest-growing economies in the Asia-Pacific region, maintaining a steady 6.5% growth rate in FY25–26. The agency highlights that robust domestic demand and sustained government-led investments are helping the country withstand mounting global trade pressures, including a sharp rise in US import tariffs.

  • Refex Industries surges more than 15% as its board of directors approves the merger of Refex Green Mobility with itself and the demerger of its green mobility business, Refex Mobility, from itself.

  • Acme Solar Holdings secures a Rs 1,100 crore loan from State Bank of India for its 300 MW renewable energy project in Rajasthan and to refinance existing debt.

  • Emkay Global Financial Services announces that veteran investor Kirti Doshi acquires a 21% stake in the company, investing Rs 227.5 crore through Antique Securities.

  • KEC International secures orders worth Rs 3,243 crore in its transmission & distribution business. The projects include 400 kV transmission lines in the United Arab Emirates (UAE) and supply of towers, hardware, and poles in the Americas.

  • Nifty 50 was trading at 25,227.65 (25.3, 0.1%), BSE Sensex was trading at 82,147.37 (-12.6, 0.0%), while the broader Nifty 500 was trading at 23,384.90 (3.5, 0.0%).

  • Market breadth is even. Of the 2,060 stocks traded today, 957 were gainers and 1,033 were losers.

Riding High:

Largecap and midcap gainers today include Au Small Finance Bank Ltd. (731.65, 3.6%), Ashok Leyland Ltd. (144.04, 3.3%) and Jindal Steel Ltd. (1,062.70, 2.9%).

Downers:

Largecap and midcap losers today include Adani Total Gas Ltd. (722.95, -7.4%), Adani Power Ltd. (162.35, -4.6%) and AWL Agri Business Ltd. (260.10, -4.1%).

Volume Rockets

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

Top high volume gainers on BSE included Tata Investment Corporation Ltd. (8,138, 11.8%), Gujarat Mineral Development Corporation Ltd. (627.40, 11.0%) and NLC India Ltd. (276.09, 4.5%).

Top high volume losers on BSE were 360 One Wam Ltd. (1,019.60, -2.9%), ZF Commercial Vehicle Control Systems India Ltd. (12,999, -2.5%) and Trent Ltd. (4,891, -2.4%).

KEC International Ltd. (883.90, 2.1%) was trading at 47.2 times of weekly average. R R Kabel Ltd. (1,292.90, 2.0%) and Gujarat State Petronet Ltd. (322.10, 2.9%) were trading with volumes 6.8 and 5.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

16 stocks made 52 week highs, while 3 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Adani Power Ltd. (162.35, -4.6%), Ashok Leyland Ltd. (144.04, 3.3%) and Bajaj Finance Ltd. (1,025.50, 1.9%).

Stocks making new 52 weeks lows included - Praj Industries Ltd. (380.35, -0.4%) and Five-Star Business Finance Ltd. (522.85, -2.4%).

7 stocks climbed above their 200 day SMA including Gujarat State Petronet Ltd. (322.10, 2.9%) and Linde India Ltd. (6,480, 1.6%). 23 stocks slipped below their 200 SMA including AWL Agri Business Ltd. (260.10, -4.1%) and CIE Automotive India Ltd. (429.50, -3.1%).

 
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Trendlyne Marketwatch
22 Sep 2025
Market closes lower, Brigade Enterprises gets Rs 126 cr investment from Manipal Group
By Trendlyne Analysis

Nifty 50 closed at 25,202.35 (-124.7, -0.5%) , BSE Sensex closed at 82,159.97 (-466.3, -0.6%) while the broader Nifty 500 closed at 23,381.45 (-105.2, -0.5%). Market breadth is in the red. Of the 2,593 stocks traded today, 936 showed gains, and 1,615 showed losses.

Indian indices closed in the red, dragged down by IT stocks after the US announced a hike in H-1B visa fees. The Indian volatility index, Nifty VIX, rose 5.9% and closed at 10.6 points. Garden Reach Shipbuilders closed 2.1% higher as it signed a $62 million deal with Germany’s Carsten Rehder for four hybrid multi-purpose vessels.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower. Nifty Auto closed in the red, while BSE Power closed higher. According to Trendlyne’s Sector dashboard, Utilities emerged as the best-performing sector of the day, with a rise of 2.7%.

European indices are trading mixed. Major Asian indices closed mixed. US index futures are trading lower, indicating a cautious start to the session. Investors await the release of PCE inflation, home sales data, and September consumer sentiment later in the week. Brent crude futures are trading lower after rising 0.2% on Friday.

  • Relative strength index (RSI) indicates that stocks like L&T Finance, Maruti Suzuki, Tanla Platforms, and Eicher Motors are in the overbought zone.

  • Brigade Enterprises receives a Rs 126 crore investment from Manipal Education and Medical Group International India for its Twin Towers project in Bengaluru.

  • One 97 Communications (Paytm) rises after Jefferies retains its 'Buy' rating and raises the target price by 3.6% to Rs 1,420 per share. The brokerage cites growth potential in the recently launched postpaid-on-UPI and wealth segments, raising EBITDA estimates by 9–14%.

  • Hindustan Copper rises sharply as it extends its Rekha Mining lease deed with the Jharkhand Government for the next 20 years. The company will reopen and expand the Rekha Copper Mine.

  • JM Financial believes that Swiggy may need to raise over $500 million (Rs 4,400 crore) to support and grow Instamart amid rising competition. Swiggy faces increasing pressures with losses widening for five straight quarters and cash reserves shrinking. The brokerage suggests Swiggy take cues from its larger rival, which recapitalised last year despite a stable balance sheet.

  • Oil India is rising as it signs a joint venture with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) to develop 1.2 GW of renewable energy projects. The project includes 1,000 MW of solar and 200 MW of wind within RVUNL’s Renewable Energy Park.

  • ICICI Direct maintains its 'Buy' call on Alkem Laboratories, with a target price of Rs 6,400 per share. This indicates a potential upside of 16.4%. The brokerage believes that the company has well-balanced growth levers led by its strong foothold in India, RoW and new ventures. It expects the firm's revenue to grow at a CAGR of 10.6% over FY26-28.

  • Godrej Consumer Products rises as it invests $85 million (~ Rs 750 crore) in its subsidiary, Godrej Mauritius Africa Holdings, for 8.1 crore shares.

  • Metro Brands CEO Nissan Joseph says about 40% of the company's net revenue comes from products priced below Rs 2,500. The company plans to offer discounts on roughly 40% of its inventory to expand this segment. He believes the GST cuts will help restore the company’s growth rate to 15%.

  • Adani Power surges to its 20% upper circuit as it begins trading after five-for-one stock split. The company splits Rs 10 face value shares into five shares of Rs 2 each.

  • Coromandel International's board of directors approves setting up a technical mono ammonium phosphate (TMAP) plant in Visakhapatnam.

  • Rossell Techsys rises sharply to its all-time high of Rs 832 as it secures a long-term Indefinite Delivery, Indefinite Quantity (IDIQ) contract with Boeing. The deal involves manufacturing electrical panel assemblies for the T-7A Red Hawk, Boeing’s advanced pilot training aircraft, allowing production of up to 1,200 shipsets through 2033.

  • Shipping stocks like Mazagon Dock and Cochin Shipyard rise following reports that the Indian government has granted infrastructure status to large ships. This upgrade is expected to ease capital access for shipbuilders. Additionally, the Indian Navy is set to issue a tender worth Rs 80,000 crore ($9.1 billion) for four large landing platform docks.

  • DEE Development Industries' board of directors approves raising Rs 300 crore by issuing equity shares or other securities through a private placement, rights issue, qualified institutional placement (QIP), or other modes.

  • Garden Reach Shipbuilders & Engineers rises sharply as it signs a $62 million (Rs 546.6 crore) deal with Germany’s Carsten Rehder for four hybrid multi-purpose vessels. The contract includes an option to build two more vessels and is scheduled for completion in 33–42 months.

  • Everest Industries rises as its board of directors appoints Hemant Khurana as the new Managing Director (MD) and Chief Executive Officer (CEO), effective September 13.

  • An SBI report states that the RBI may cut rates by 25 bps in its September policy meeting, calling it the best option currently. With inflation under control and likely to ease further, the report sees merit in a rate cut. It expects inflation to remain low through FY27. The CPI for FY27 is likely to stay around 4% or lower. With the GST rationalisation, the October CPI is expected to drop to around 1.1%.

  • NBCC is rising as it signs a memorandum of understanding (MoU) worth Rs 117 crore with HUDCO for multiple projects. The MoU includes developing a commercial plot in Ghaziabad, a HUDCO plot in Haryana, additional blocks at the HUDCO Regional Office in Gujarat, and the reconstruction of flats at the Asian Games Village Complex (AGVC) in New Delhi.

  • PNC Infratech receives a letter of acceptance (LoA) worth Rs 495.5 crore from Bihar State Road Development Corp to build a high-level bridge and approach road on the Hathouri-Atrar-Bavangama-Aurai Road. The project is scheduled for completion within three years.

  • Netweb Technologies India rises sharply to its all-time high of Rs 3,470 as it secures a Rs 450 crore order for AI infrastructure deployment using Tyrone GPU systems. The project runs until the end of FY26.

  • Indian IT stocks like TCS, Infosys, and HCL Technologies fall up to 6%, losing around Rs 63,000 crore in market value, after the US announces an H-1B visa fee hike. However, the decline is less severe than expected, and stocks partially recover as the impact is likely only from FY27. IIFL Securities says the higher US business costs are manageable, estimating a 20–60 bps hit to EBIT margins and a 1.2–4.5% impact on EPS depending on hiring strategies.

  • Swan Defence and Heavy Industries surges to its all-time high of Rs 577.1 as it signs a Rs 4,250 crore memorandum of understanding (MoU) with Gujarat Maritime Board to expand the shipyard at Pipavav Port in Gujarat. The expansion includes enhancing the slipway, jetties, additional cranes, block fabrication, and dredging.

  • Ceigall India is rising as it bags a Rs 1,700 crore order from Rewa Ultra Mega Solar through tariff-based competitive bidding to set up a 220 MW grid-connected ground-mounted solar photovoltaic (PV) plant in Madhya Pradesh. The company will also set up a battery energy storage system (BESS).

  • Prism Johnson rises as it emerges as the preferred bidder for the mining lease of the 203.8-hectare Piparhat Kubri Limestone block in an auction by the Mineral Resource Department, Government of Madhya Pradesh. The block has a capacity of 45.21 million tonnes.

  • Lupin receives Form 483 with four observations from the US FDA after a pre-approval inspection at its biotech facility in Pune.

  • Nifty 50 was trading at 25,264.45 (-62.6, -0.3%), BSE Sensex was trading at 82,240.49 (-385.7, -0.5%), while the broader Nifty 500 was trading at 23,478.05 (-8.6, 0.0%).

  • Market breadth is in the green. Of the 2,214 stocks traded today, 1,253 showed gains, and 881 showed losses.

Riding High:

Largecap and midcap gainers today include Adani Power Ltd. (170.25, 20%), Adani Total Gas Ltd. (780.75, 19.9%) and Adani Green Energy Ltd. (1,152.15, 11.8%).

Downers:

Largecap and midcap losers today include MphasiS Ltd. (2,852.40, -4.7%), LTIMindtree Ltd. (5,260, -4.5%) and Coforge Ltd. (1,716.90, -4.4%).

Volume Shockers

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

Top high volume gainers on BSE included Adani Total Gas Ltd. (780.75, 19.9%), Adani Green Energy Ltd. (1,152.15, 11.8%) and Adani Energy Solutions Ltd. (937.40, 6.9%).

Top high volume losers on BSE were Tech Mahindra Ltd. (1,505.40, -3.1%) and RBL Bank Ltd. (269.70, -0.5%).

MMTC Ltd. (70.96, 5.3%) was trading at 14.4 times of weekly average. AWL Agri Business Ltd. (271.10, 5.5%) and Vedant Fashions Ltd. (750.80, 4.6%) were trading with volumes 9.6 and 6.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

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

Stocks touching their year highs included - Adani Power Ltd. (170.25, 20%), Canara Bank (118.87, 0.9%) and Grasim Industries Ltd. (2,854.10, -0.8%).

Stocks making new 52 weeks lows included - United Breweries Ltd. (1,774.90, -1.2%) and Praj Industries Ltd. (381.95, -1.8%).

11 stocks climbed above their 200 day SMA including Adani Total Gas Ltd. (780.75, 19.9%) and Anant Raj Ltd. (677.60, 5.8%). 25 stocks slipped below their 200 SMA including Voltas Ltd. (1,376.20, -3.1%) and Ipca Laboratories Ltd. (1,399.30, -2.9%).

 
logo
The Baseline
19 Sep 2025
Five Interesting Stocks Today - September 19, 2025
By Trendlyne Analysis

1. Inox Wind:

This wind turbine manufacturer rose 1.9% in the past week and over 8% in the last month. This came after Axis Direct highlighted the company’s balance sheet transition following its merger with Inox Wind Energy, a former unit of its renewable energy business. This merger contributed to a sharp liability reduction of Rs 2,050 crore, with the company's net debt falling from Rs 2,956 crore in FY24 to Rs 809 crore in FY25.

In FY25, borrowings were significantly reduced through several actions. The company fully redeemed non-convertible debentures (NCDs) of Rs 1,075 crore, leaving no debentures outstanding as of March 2025. Additionally, an equity infusion of Rs 2,300 crore across the parent company and its subsidiaries was partially used to pay down long-term debt.

Axis Direct described FY25 as a ‘turnaround year’ for Inox Wind. During this period, revenues more than doubled, and the company reported a net profit of Rs 438 crore, a significant improvement from the loss recorded in FY24. The company's order book now stands at a record 3.1 GW, providing clear revenue visibility for the next two to three years. The company appears in a screener of newly affordable stocks with strong financials and a good Durability score.

The company is in expansion mode, and has opened a new facility in Ahmedabad, and started backward integration for cranes and transformers. Its operations and maintenance (O&M) division now manages 5.1 GW and has also entered the solar O&M sector.

In Q1FY26, its revenue grew 36% YoY but missed Forecaster estimates by 8% due to lower-than-expected project execution. The company executed 146 MW during the quarter, a 4% increase YoY but a 38% decrease from the previous quarter. Despite this, CEO Sanjeev Agarwal remains optimistic, saying, “We are confident of achieving guidance of executing 1,200 MW for FY26 and 2,000 MW for FY27.” 

To meet this goal, the company must deliver 1,054 MW in the remaining nine months of the fiscal year, a significant increase from the 565 MW completed during the same period last year. Agarwal raised EBITDA margin guidance for FY26 to 18–19%, from an earlier forecast of 17–18%, projecting improvement from backward integration.

2. JBM Auto:

This auto components manufacturer surged more than 10% on September 12 after its subsidiary, JBM Ecolife Mobility, secured a $100 million investment from the International Finance Corporation (IFC), part of the World Bank Group. The funds will finance the rollout of 1,455 electric buses across Maharashtra, Assam, and Gujarat under the PM e-Bus Sewa scheme.

The company’s financial health showed strong momentum in Q1FY26, with revenue climbing 12% YoY and net profit growing by over 10%. EBITDA margins were robust at 14%, an improvement over both the previous quarter and the same period last year. Vice Chairman and MD Nishant Arya said, “We aim to maintain this margin with better asset utilisation amid a strong order book and many bus deliveries scheduled this year.”

Fueling this growth is JBM’s order book, which stood at Rs 45,000 crore at the end of FY25. A significant boost came in February when the company won a substantial order worth nearly Rs 5,500 crore for 1,021 e-buses under the PM e-Bus Sewa programme. This pushed the company's e-bus backlog to over 7,000 units, providing a multi-year revenue visibility for its OEM division. Arya noted that the company is also seeing “a strong demand for buses from private players.”

While the component business remains JBM Auto’s foundation, contributing over 55% of consolidated revenue from high-volume sheet metal parts, the company is shifting gears. It is transitioning into a complete vehicle manufacturer, with its OEM division primarily focused on electric buses, which now accounts for roughly 35% of revenue. This share is set to climb as the company executes its large-scale public transport orders. The tool room and other engineering businesses make up the rest of its revenue.

Currently, exports account for about 5% of its revenue, but the company has plans to double its export share to 10% in FY26. It is targeting markets across Europe, the Asia-Pacific, the Middle East, and Africa. With this expansion, Arya anticipates the company will achieve double-digit revenue growth in FY26, projecting revenues between Rs 6,000 and Rs 6,500 crore.

3. Hyundai Motor India:

Thisvehicle manufacturer has surged 6.8% since September 17, following its signing of a three-year wageagreement with the United Union of Hyundai Employees. Investors interpreted the agreement as a signal of stable labour relations and predictable workforce costs, reducing the risk of production disruptions.

The agreement covers nearly 2,000 employees from FY25-27, giving them a clear plan for pay raises over the next three years. More importantly, it locks in the company’s workforce costs, removing a major headache. This gives the company room to ramp up production and prepare for its EV expansion in India.

On September 18, Hyundaiannounced that India will get its first locally designed electric vehicle before 2030, built with a 100% local supply chain. Their plant in Pune is set to become an export hub, adding 2.5 lakh cars to Hyundai’s worldwide production by 2030, making India a key market for both domestic sales and exports.

However, total sales in Augustdropped by 4% YoY due to a 11% decline in domestic sales. Analysts attribute this decline to the recent GST reform, as buyers delayed purchases. The company said that 60% of its internal-combustion engine (ICE) portfolio now falls under the 18% tax slab from 28%, following the GST reduction on small cars with a length of up to 4 metres.

Tarun Garg, COO,noted that post-cut, “The SUVs in the sub-4 metre segment will see the highest growth, as that segment represents both affordability and aspiration.”

Despite the dip in total sales, its monthly exports rose 21%. Gargsaid, “Our goal is to establish India as a manufacturing base for emerging economies and to become Hyundai’s largest export hub outside South Korea.”

Motilal Oswalmaintains its ‘Buy’ rating, citing that the company is set to benefit significantly from the GST rate cut and strong rural demand. The brokerage expects the company to register modest 2% growth in FY26. However, they believe the ramp-up of the new Pune plant and upcoming launches will likely drive Hyundai Motor’s volume up by 15% in FY27.

4. Ambuja Cements:

The stock of this cement & cement products company rose 3.9% over the past week as a wave of optimism swept across the Indian cement sector. Global brokerage firms HSBC and CLSA turned bullish, with HSBC naming the company one of its top picks, expecting it to dominate the industry’s expansion in FY26. CLSA sees industry profits growing thanks to stable pricing, cost-saving measures, and recent tax cuts.

Adding to this positive sentiment, the company’s parent, Adani Cement, has welcomed the government's recent decision to slash the GST on cement from 28% to 18%. CEO Vinod Bahety believes the move will speed up national infrastructure projects and boost the economy. Analysts predict this tax cut could cause cement prices to fall by Rs 25-30 per bag, a direct benefit for consumers.

The company’s own performance is already showing strength. In its latest Q1FY26 results, net profit surged by 21.9% compared to last year, thanks to better inventory management. Revenue also grew 21.7%, beating the Forecaster estimate by 5.2%, due to a 3% price hike of cement bags during Q1. The stock features in a screener of companies which have shown relative outperformance versus industry over the past week.

To meet future demand, the company is aggressively expanding its capacity. Mr. Bahety confirmed they have added 5 million tonnes of capacity in the last three months and plan to add another 13 million tonnes this financial year. With a current capacity of 104.5 million tonnes, the company is on a clear path to reach 118 million tonnes by the end of FY26, as part of its larger goal of hitting 140 million tonnes by FY28 through strategic expansions at various sites.

Looking forward, brokerage firm Ventura highlights the company's commitment to innovation through its “Adani Cement FutureX” research and development initiatives. The firm believes the company is positioned to capitalize on India's infrastructure boom through its twin strategy of expansion and cost control. Ventura has issued a ‘Buy’ rating on the stock with a price target of Rs 794.

5. NCC:

The share price of this construction & engineering player increased by 4.2% over the past week. NCC secured an order worth Rs 2,091 crore from Bihar’s Water Resources Department to construct the Barnar Reservoir. This project includes building a dam and irrigation channels.

In August, NCC’s water division bagged two orders totalling Rs 788 crore, adding to a series of major contract wins in recent months. In June, its building division announced new orders worth Rs 1,691 crore, along with a Rs 2,269 crore contract for Metro Line 6 from MMRDA, covering rolling stock, signalling, telecom, and depot machinery.

Neerad Sharma, Head of Strategy at NCC, said, “With these new orders, our order inflows have reached ~Rs 9,600 crore, which translates to 43% of the full-year guidance of Rs 22,000–25,000 crore.” While the buildings segment currently accounts for 79% of the work, the management expects increased contributions from the transportation, irrigation, and mining sectors in the upcoming quarters

The company’s June quarter performance showed signs of pressure. Net profit fell 8.4% YoY to Rs 192.1 crore, while revenue declined by 6.3% to Rs 5,179 crore. This weaker performance was attributed to slower project execution, caused by an early monsoon and delays in starting some large projects.

However, the company expects a recovery in Q2 as execution picks up with improved weather and necessary site clearances. NCC is also targeting significant infrastructure opportunities in Andhra Pradesh, including tenders for capital city development and general infrastructure expansion.

ICICI Securities maintains a ‘Buy’ rating on the company with a target price of Rs 262. The brokerage is confident that NCC’s strong order pipeline will allow it to meet its financial guidance comfortably, forecasting a full-year revenue growth of 15% with margins holding around 9%.

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

 
T
Trendlyne Marketwatch
19 Sep 2025
Market closes lower, JSW Energy arm to acquire Tidong Power
By Trendlyne Analysis

Nifty 50 closed at 25,327.05 (-96.6, -0.4%), BSE Sensex closed at 82,626.23 (-387.7, -0.5%) while the broader Nifty 500 closed at 23,486.65 (-32.3, -0.1%). Market breadth is neutral. Of the 2,549 stocks traded today, 1,269 showed gains, and 1,229 showed losses.

Indian indices closed in the red as profit booking hit the IT, auto, and FMCG sectors following gains driven by the Fed rate cut. The Indian volatility index, Nifty VIX, rose 0.5% and closed at 9.9 points. Adani Group stocks surged after the Securities and Exchange Board of India (SEBI) cleared Gautam Adani and the group of stock manipulation allegations made by US short-seller Hindenburg Research.

Nifty Midcap 100 & Nifty Smallcap 100 closed flat. S&P BSE Utilities and S&P BSE IPO were among the top index gainers today. According to Trendlyne’s Sector dashboard, Commercial Services & Supplies emerged as the best-performing sector of the day, with a rise of 2.4%.

Asian indices closed lower, while European indices are trading mixed. US index futures traded higher indicating a positive start to the trading session. Oil prices edge lower as worries about weak US fuel demand outweigh optimism from the Fed’s rate cut. Signs of a cooling labor market and a sharp rise in distillate stockpiles add to concerns, suggesting demand is slowing as the summer driving season winds down.

  • Money flow index (MFI) indicates that stocks like Kaynes Technology, Great Eastern Shipping, Poonawalla Fincorp, and L&T Finance are in the overbought zone.

  • Texmaco Rail & Engineering is rising as it secures an order worth Rs 86.9 crore from Ultratech Cement to supply bogie covered freight car (BCFC) wagons and a brake van.

  • Vedanta emerges as the preferred bidder for the 152-hectare Punnam Manganese block through an e-auction held by the Department of Mines & Geology, Government of Andhra Pradesh.

  • TCC Concept surges to its 5% upper circuit as it plans to acquire a 100% stake in Pepperfry.

  • Morgan Stanley initiates coverage on Adani Power with an 'Overweight' rating and a target price of Rs 1,041. The brokerage notes that timely project execution, power purchase agreements, and improved profitability in the recently acquired 2.9 GW plants could further support earnings. A reduction in the merchant portfolio from the current 20% may offer additional upside.

  • Arfin India rises sharply to its new 52-week high of Rs 47.8 as it secures a Rs 180 crore order from JFE Shoji India. The company will supply 6,900 MT of aluminium products over six months.

  • Bharat Heavy Electricals receives a Rs 586.4 crore show cause notice from the Commercial Tax Department, Telangana, for unpaid goods & services tax (GST) during FY22-24.

  • Graphite India is rising as it acquires a 6.8% stake in US-based Graftech International for Rs 168.1 crore. Graftech manufactures high-quality graphite electrodes used in the production of electric arc furnace steel and other ferrous and non-ferrous metals.

  • SBI Mutual Fund reportedly aims to launch its IPO before FY26-end, targeting a valuation of up to Rs 1.2 lakh crore while looking to dilute less than a 5% stake. The IPO is expected to be a mix of fresh issue and offer for sale. SBI holds a 61.9% stake in the JV, while Amundi owns 36.4% and is currently unwilling to participate in the OFS.

  • Larsen & Toubro's construction equipment and industrial products design & development (CE & IPDD) vertical bags multiple significant orders worth Rs 1,000-2,500 crore from major coal and cement producers in India. The orders involve the supply and after-sales support for Komatsu machinery.

  • Rajesh Power Services is rising as it bags a turnkey contract worth Rs 182.6 crore from Madhya Gujarat Vij (MGVCL). The contract involves converting the existing 11kV high-tension (HT) network to underground cable in Mehmedabad, Anand, Petlad, and Nadiad.

  • Vodafone Idea rises sharply after the Centre tells the Supreme Court it does not oppose the company’s plea on AGR dues, though it seeks a solution as an equity holder. The hearing, earlier set for September 19, has been pushed to September 26.

  • Motilal Oswal maintains a 'Buy' rating on Prince Pipes & Fittings with a target price of Rs 440. The brokerage believes the company is navigating a challenging operating environment and uncertainties in its trade channels. However, its medium-term growth drivers remain intact, helped by new capacity in Bihar, CPVC expansion, better margins from higher utilisation and product mix, and rising demand in Tier 2 and 3 markets.

  • CESC is rising as its subsidiary, CESC Green Power, plans to set up a solar cell/ module plant and other manufacturing facilities across India, with a capex of Rs 5,000 crore. The company will establish a 3 GW solar cell/module plant, a battery manufacturing plant, a 60 MW renewable energy plant, and other ancillary units.

  • Kaynes Technology India is falling as its Chief Executive Officer (CEO), Rajesh Sharma, tenders his resignation, effective October 31.

  • GE Power's board of directors approves the merger of its Durgapur facility with JSW Energy. Shareholders of GE Power will receive 10 shares in JSW Energy for every 139 shares held in the company.

  • Siddharth Mittal, CEO and MD of Biocon, expects new biosimilars to be key growth drivers for the company. He highlights that the US market for Denosumab is valued at $5 billion. Mittal is optimistic about the GLP-1 opportunity, particularly for the next 10–15 drug launches. Debt reduction remains a top priority, with repayments on bank loans scheduled to begin next year.

  • Great Eastern Shipping enters a loan agreement with its subsidiary, Greatship (India), for a Rs 425 crore loan for the prepayment of its existing external commercial borrowing facility worth $70.9 million (~ Rs 626 crore).

  • John Cockerill India rises sharply as it bags a contract from Tata Steel for the engineering, design, manufacture and supply of a push-pull picking line and spray roaster acid regeneration plant (ARP) with a capacity of 3.5 lakh tonnes per annum (TPA).

  • Adani Group stocks like Adani Enterprises, Adani Power, Adani Green Energy, and Adani Total Gas surge after the Securities and Exchange Board of India (SEBI) clears Gautam Adani and the group of stock manipulation allegations made by US short-seller Hindenburg Research.

  • Nomura maintains a 'Buy' rating on GE Vernova T&D India with a higher target price of Rs 3,350. The brokerage highlights domestic tailwinds, with management citing a Rs 2.7 lakh crore opportunity for base orders between 2025 and 2030. The company reiterates its focus on expanding exports and sustaining profitable growth through disciplined bidding and a lean cost structure.

  • Kingfa Science & Technology is rising as it receives approval from the NSE and BSE for the preferential issue of 14.4 lakh shares worth Rs 485.8 crore at an issue price of Rs 3,470 per share.

  • Ramky Infrastructure surges as its arm, Mallannasagar Water Supply, secures a Rs 2,085 crore contract from Hyderabad Metropolitan Water Supply and Sewerage Board (HMWSSB). The project involves the execution of the Godavari Drinking Water Supply Scheme (Phases II and III) and includes construction over two years, with operation and maintenance for 10 years.

  • Unichem Labs receives a demand notice worth Euro 19.4 million (~ Rs 202.7 crore) from the European Commission, Belgium, for an anti-trust case regarding its Perindopril drug.

  • JSW Energy is rising as its subsidiary, JSW Neo Energy, plans to acquire a 100% stake in Tidong Power Generation (TPGPL) for Rs 1,728 crore. TPGPL is developing a 150 MW hydropower project and will become a subsidiary of JSW Neo Energy and a step-down subsidiary of JSW Energy.

  • Nifty 50 was trading at 25,381.45 (-42.2, -0.2%), BSE Sensex was trading at 82,946.04 (-67.9, -0.1%), while the broader Nifty 500 was trading at 23,514.85 (-4.1, 0.0%).

  • Market breadth is in the red. Of the 2,046 stocks traded today, 935 showed gains, and 1,039 showed losses.

Riding High:

Largecap and midcap gainers today include Adani Power Ltd. (709.40, 12.4%), Ipca Laboratories Ltd. (1,441, 7.5%) and Adani Total Gas Ltd. (651.45, 7.3%).

Downers:

Largecap and midcap losers today include Escorts Kubota Ltd. (3,688.10, -2.8%), SBI Cards and Payment Services Ltd. (871.65, -2.3%) and Linde India Ltd. (6,314.50, -2.0%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Adani Power Ltd. (709.40, 12.4%), Tanla Platforms Ltd. (753.70, 7.7%) and Ipca Laboratories Ltd. (1,441, 7.5%).

Top high volume losers on BSE were Relaxo Footwears Ltd. (469.65, -5.2%), Jubilant Ingrevia Ltd. (673.85, -5%) and Emami Ltd. (579.60, -3.7%).

Adani Total Gas Ltd. (651.45, 7.3%) was trading at 50.8 times of weekly average. Adani Green Energy Ltd. (1,030.70, 5.3%) and AWL Agri Business Ltd. (256.95, -1.0%) were trading with volumes 18.6 and 16.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

12 stocks took off, crossing 52 week highs, while 1 stock were underachiever and hit their 52 week lows.

Stocks touching their year highs included - Adani Power Ltd. (709.40, 12.4%), Ashok Leyland Ltd. (140.89, 1.5%) and Eicher Motors Ltd. (6,973.50, 0.7%).

Stock making new 52 weeks lows included - Praj Industries Ltd. (389, -0.7%).

20 stocks climbed above their 200 day SMA including Anant Raj Ltd. (640.40, 9.4%) and Ipca Laboratories Ltd. (1,441, 7.5%). 15 stocks slipped below their 200 SMA including Relaxo Footwears Ltd. (469.65, -5.2%) and Emami Ltd. (579.60, -3.7%).

 
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Trendlyne Marketwatch
18 Sep 2025
Market closes higher, Ugro Capital gets RBI nod to acquire Profectus Capital
By Trendlyne Analysis

Nifty 50 closed at 25,423.60 (93.4, 0.4%) , BSE Sensex closed at 83,013.96 (320.3, 0.4%) while the broader Nifty 500 closed at 23,518.90 (73.7, 0.3%). Market breadth is holding steady. Of the 2,559 stocks traded today, 1,207 showed gains, and 1,296 showed losses.

Indian indices closed in the green as the US Fed rate cuts triggered positive reactions in select sectors like IT, pharma and banking. The Indian volatility index, Nifty VIX, declined 3.5% and closed at 9.9 points. Ugro Capital received approval from the Reserve Bank of India (RBI) to acquire a 100% stake in Profectus Capital for Rs 1,400 crore.

Nifty Midcap 100 & Nifty Smallcap 100 closed in the green, following the benchmark index. Nifty Pharma and Nifty Healthcare Index 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 1.1%.

Asian indices closed mixed, while European indices are trading higher except Russia’s MOEX & RTSI indices. US index futures traded higher as the Federal Reserve approved a widely expected rate cut and signaled two more could follow this year amid concerns over the US labour market. The Fed lowered its benchmark rate by 25 basis points to a target range of 4%–4.25%. Federal Reserve Chair Jerome Powell noted that, unlike in a “healthier economy,” the current weak hiring trend increases the risk of a sharper rise in unemployment.

  • Relative strength index (RSI) indicates that stocks like L&T Finance, Maruti Suzuki, CG Power & Industrial, and Cummins India are in the overbought zone.

  • Insolation Energy's subsidiary, Insolation Green Energy, receives a Rs 1,134 crore loan from IREDA to set up a 4.5 GW solar cell manufacturing facility in Madhya Pradesh. The total project cost is Rs 1,512 crore, with Rs 378 crore to be funded from internal accruals.

  • Ugro Capital receives approval from the Reserve Bank of India (RBI) to acquire a 100% stake in Profectus Capital for Rs 1,400 crore.

  • Motilal Oswal Mutual Fund sells 1.1 crore shares worth Rs 102 crore in Pitti Engineering at an average price of Rs 950.1 per share through a bulk deal.

  • HSBC Global maintains a mixed outlook on India’s telecom sector, reiterating ‘Buy’ ratings on Reliance Industries and Bharti Airtel, while lowering Vodafone Idea’s target to Rs 5.8. The brokerage sees strong growth potential for Reliance Jio and Airtel, citing Airtel’s steady rise in average revenue per user (ARPU), expanding home broadband subscriber base, and improving free cash flow.

  • Action Construction Equipment plans to invest around Rs 400 crore to set up a tower crane manufacturing facility in Palwal, Faridabad. The plant spans 22 acres and focuses on catering to rising demand in the construction sector.

  • JSW Steel rises as its subsidiary, JSW Steel (Netherlands), enters a definitive agreement to acquire an additional economic interest in M Res NSW for $60 million (~ Rs 528.7 crore).

  • Capacit'e Infraprojects rises sharply as it bags an order worth Rs 1,518 crore to construct four ultra luxury residential towers in Mumbai, for 25 Downtown by Hubtown.

  • Escorts Kubota rises over 2% after launching the 'PRO588i-G' Kubota-branded combine harvester in Punjab and Haryana. Chairman and MD Nikhil Nanda says it can convert leftover crop stalks into cattle feed and biomass, offering farmers a profitable alternative to stubble burning.

  • Tega Industries falls sharply as its board approves the issue of 1 crore equity shares via a preferential allotment at Rs 1,994 per share, a 6% discount to Wednesday’s close. The Rs 2,000.6 crore issue sees participation from promoters as well as investors, including Mukul Agarwal, Tata Mutual Fund, and Bandhan Mutual Fund.

  • Waaree Energies plans to sell a 14.7% stake (or 61 lakh shares) in its subsidiary, Indosolar, through an offer for sale (OFS).

  • Natco Pharma rises as it receives an establishment inspection report (EIR) with a voluntary action indicated (VAI) status from the US FDA for its facility in Hyderabad. The facility manufactures and distributes generic, branded and specialty pharmaceuticals, active pharmaceutical ingredients and crop protection products.

  • Tata Steel MD, TV Narendran, expects GST rationalisation to support India’s growth. He backs the government’s proposed 12% safeguard duty but notes that it won’t apply if steel prices cross a set threshold. Narendran expects stronger steel consumption in the second half, with demand picking up after the festive season. He adds that it is still too early to assess the direct impact of the Fed’s rate cut.

  • ICICI Direct upgrades KPR Mill to a 'Buy' call from 'Hold', with a higher target price of Rs 1,330 per share. This indicates a potential upside of 20.6%. The brokerage believes that the free trade deal with the UK and a potential trade deal with the USA present strong long-term growth opportunities for the company. It expects the firm's revenue to grow at a CAGR of 11.3% over FY26-28.

  • Hindalco Industries falls as its Novelis plant in Oswego, USA, temporarily shuts down operations due to a fire incident. The company reports no casualties and injuries.

  • Indian Hotels reportedly plans to exit its flagship US property, The Pierre Hotel in Manhattan, in a $2 billion deal. The sale is expected to bring a cash inflow of nearly Rs 18,000 crore. The Sultan of Brunei and Saudi businessman Essam Khashoggi are seen as the likely buyers.

  • Financial services provider Anand Rathi Share and Stock Brokers sets the price band for its IPO at Rs 393–414 per share. The IPO opens for subscription on September 23 and ends on September 25. The issue includes a fresh equity raise of Rs 745 crore.

  • SEPC surges as it bags an order worth Rs 442.8 crore from the Water Resources Department, Delhi, under the Jamaniyan to Kakrait Gangajal Uvah Irrigation Scheme.

  • Poonawalla Fincorp surges to its 52-week high of Rs 513.4 per share as its board of directors approves the preferential allotment of 3.3 crore shares worth Rs 1,500 crore to its promoter, Rising Sun Holdings. The board sets an issue price of Rs 452.5 per share for the issue.

  • Railtel Corp of India bags an order worth Rs 105.7 crore from the Bihar Education Project Council (BEPC) to supply and install smart classrooms in the state.

  • UBS maintains a 'Buy' rating on Avenue Supermarts with a higher target price of Rs 5,600. The brokerage calls the company a "major compounder" in India’s consumption story and expects DMart to enter a phase of accelerated expansion. It opened around 130 stores in the past three years and will likely add another 230–250 in the next three. UBS also notes a steady rise in DMart’s same-store sales growth, which reached high single digits last year.

  • Biocon is rising as its subsidiary, Biocon Biologics, receives approval from the US FDA for its Bosaya and Aukelso injections. Bosaya is a biosimilar of Prolia and is used to treat osteoporosis, while Aukelso is a biosimilar of Xgeva, used to prevent skeletal-related events. According to IQVIA, the drugs have an estimated combined market size of $5 billion.

  • Cohance Lifesciences falls sharply as 3.4 crore shares (8.9% stake), worth Rs 3,073 crore, reportedly change hands in a block deal. Jusmiral Holdings is likely the seller in the transaction.

  • Dixon Technologies is rising as it plans to acquire a 51% stake in Delhi-based Kunshan Q Tech Microelectronics (India) for Rs 553 crore. The deal strengthens the company's manufacturing of mobile phones, IoT devices, and auto electronics, while supporting its long-term goal of leading India’s electronics manufacturing.

  • Cochin Shipyard is rising as it bags an order worth Rs 200 crore from Oil & Natural Gas Corp for a dry dock and major repairs of its jack-up rig.

  • Markets opened high. Nifty 50 was trading at 25,411.20 (81.0, 0.3%), BSE Sensex was trading at 83,108.92 (415.2, 0.5%) while the broader Nifty 500 was trading at 23,497.65 (52.5, 0.2%).

  • Market breadth is in the green. Of the 2,064 stocks traded today, 1,319 showed gains, and 679 showed losses.

Riding High:

Largecap and midcap gainers today include Biocon Ltd. (368.40, 4.0%), Escorts Kubota Ltd. (3,794.70, 3.6%) and Aurobindo Pharma Ltd. (1,128.90, 3.0%).

Downers:

Largecap and midcap losers today include Hitachi Energy India Ltd. (19,379, -3.6%), Waaree Energies Ltd. (3,500.40, -2.9%) and Page Industries Ltd. (4,4320, -2.3%).

Volume Rockets

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

Top high volume gainers on BSE included Poonawalla Fincorp Ltd. (502.10, 12.3%), Tata Investment Corporation Ltd. (7,502.50, 6.6%) and Zen Technologies Ltd. (1,621.30, 5%).

Top high volume losers on BSE were Cohance Lifesciences Ltd. (912.70, -5.6%), CCL Products India Ltd. (879.45, -2.9%) and Pidilite Industries Ltd. (3,054.20, -0.3%).

Newgen Software Technologies Ltd. (918.70, 3.9%) was trading at 33.7 times of weekly average. Sonata Software Ltd. (400.50, 2.6%) and L&T Technology Services Ltd. (4,392.40, 2.4%) were trading with volumes 15.4 and 10.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

14 stocks hit their 52 week highs,

Stocks touching their year highs included - Ashok Leyland Ltd. (138.76, 1.5%), Cummins India Ltd. (4,101, -0.6%) and JSW Steel Ltd. (1,121.10, 0.9%).

17 stocks climbed above their 200 day SMA including LIC Housing Finance Ltd. (593.20, 3.7%) and CIE Automotive India Ltd. (432.65, 3.1%). 7 stocks slipped below their 200 SMA including Ola Electric Mobility Ltd. (57.71, -1.9%) and PI Industries Ltd. (3,705.70, -1.3%).

 
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The Baseline
18 Sep 2025
Bull run fizzles out: Multibagger count in Indian equities falls
By Tejas MD

Almost a year has passed since the Nifty 50 touched its all-time high on September 27, 2024. Back then, the market looked unstoppable, breaking records week after week, and every investor felt like a stock-picking genius.

A year later, the thrill is gone. The market has cooled, and investors check their portfolios the way Bangaloreans check traffic on Google Maps—cautiously, knowing it’s rarely good news.

Superstar investor Vijay Kedia summed up the market sentiment: “I have never held more cash in my portfolio now than in my entire life. It is going to stay this way as long as the uncertainty remains.”

With the markets in neutral, we take a look at the multibagger trend. Are there sectors quietly defying the broader weakness?

Let’s dive in. 

A fading bull run: Multibagger count in Indian equities sinks to record lows

A year ago, the Indian stock market was on a roll. The Nifty 50 kept climbing until it hit an all-time high in September 2024, and investors saw a flood of “multibaggers”— stocks that had at least doubled in value in just a year.

By April 2024, one in three Nifty 500 stocks had delivered multibagger returns, and investors were enjoying one of the broadest market rallies in years.

Multibagger count in Nifty 500 sinks to multi-year lows in September

But fast forward to September 2025, and the momentum has all but disappeared. For three straight months, the count of new multibaggers has stayed in the single digits—a sharp contrast to last year’s frenzy. Today, only two names from the Nifty 500 make the multibagger cut: JSW Holdings and Waaree Energies.

Only two Nifty 500 stocks remain in the multibagger club

These two stocks are among the rare stocks that have posted multibagger returns in an otherwise quiet market. JSW Holdings is riding on the strong performance of its group companies, while Waaree Energies, listed in October 2024, has gained from investors betting on the rising demand for solar power equipment.

These are the exceptions, not the rule. 

The number of multibaggers also declined across the entire stock universe, not just among Nifty 500 stocks.

Sharp decline in number of multibaggers across the stock universe

In the broader market outside the Nifty500, Bsome sectors continue to produce multibaggers. Banking and finance, commercial services & supplies, and textiles now account for 40% of all multibaggers.

Banking and finance stocks dominate multibaggers across stock universe

Banking and finance dominate this group. Recent RBI data shows that bank credit grew 9.5% YoY in Q1FY26, while deposits expanded by 10.1%, easing funding pressures for lenders. As a result, 49 out of 320 multibagger stocks belong to this sector, making it the single largest contributor. 

Signs of caution: weaker market sentiment

Several market indicators highlight the shift in sentiment. By September 2025, both one-year and quarterly median returns for Nifty 500 stocks turned negative.

Median year change of Nifty 500 stocks drops sharply

More than half of Nifty 500 companies are now trading at least 20% below their 52-week highs. This gap widened sharply in April this year as markets fell, narrowed in July during a partial recovery, but has barely improved since.

Over half of the Nifty 500 stocks are trading 20% below their year highs

A brief summer rally offered hope that a recovery was underway, but it quickly fizzled out.

A year ago, the typical stock was 66% above its year-low. Today, it’s hovering just 30% higher, much closer to the ground. In fact, 38 companies are still trading near their year lows, highlighting a weakness that is both deep and widespread.

38 stocks from Nifty 500 trade near their year lows vs six last year

From vanishing multibaggers to stocks trading far below their peaks, the market has clearly shifted from confidence to caution. Investors aren’t chasing rallies anymore—they’re holding their breath and watching every policy move.

The focus now is on trend-changing events: a breakthrough in US-India trade talks, stronger-than-expected earnings in the September quarter, or a festive spending surge fueled by GST cuts. Any of these could bring the bulls back into play.