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Trendlyne Marketwatch
28 Aug 2025, 03:59PM
Market closes lower, Tata Steel invests Rs 3,104 crore in its subsidiary T Steel Holdings
By Trendlyne Analysis

 

Nifty 50 closed at 24,500.90 (-211.2, -0.9%), BSE Sensex closed at 80,080.57 (-706.0, -0.9%) while the broader Nifty 500 closed at 22,541.65 (-227, -1%). Market breadth is overwhelmingly negative. Of the 2,502 stocks traded today, 763 were gainers and 1,680 were losers.

Indian indices closed in the red after after Trump’s additional 25% tariffs on Indian imports took effect. The Indian volatility index, Nifty VIX, fell around 0.1% and closed at 12.2 points. IndiGo closed 5.2% lower following reports that promoter Rakesh Gangwal plans to sell a 3.1% stake (or 1.2 crore shares) worth Rs 7,028 crore through a block deal.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower. Nifty Media and Nifty Auto closed in the red. According to Trendlyne’s sector dashboard, Fertilizers emerged as the worst-performing sector of the day, with a fall of 3%.

European indices are trading mixed. Major Asian indices closed mixed. US index futures are trading flat or higher, indicating a cautious start to the session. According to data from the European Automobile Manufacturers Association, Tesla’s sales dropped 40% YoY to 8,837 units in July, lagging behind Chinese rival BYD. Meanwhile, Dell Technologies, Marvell Technology, Affirm Holdings, and Dollar General are set to report their earnings today.

  • Money flow index (MFI) indicates that stocks like Maruti Suzuki, HBL Power Systems, UNO Minda, and eClerx Services are in the overbought zone.

  • ACME Solar Holdings rises as its board of directors approves raising Rs 3,000 crore by issuing equity shares or securities through a qualified institutional placement (QIP) or other modes in multiple tranches.

  • Sharekhan maintains its 'Buy' call on Astral, with a lower target price of Rs 1,643 per share. This indicates a potential upside of 20.7%. The brokerage expects capacity expansion and improved utilisation of expanded capacity to drive volume growth in the pipes business. It expects the firm's revenue to grow at a CAGR of 14.9% over FY26-27.

  • Marsons surges as it expands its annual manufacturing capacity to 10,000 megavolt-amperes (MVA), making it one of the larger transformer manufacturers in India by installed capacity. The company states that the expansion is driven by strong orders and growing demand across segments.

  • Abneesh Roy, Executive Director at Nuvama Institutional Equities, believes the FMCG sector may see some impact on summer-related products for certain companies and categories in Q2 due to heavy rainfall. He notes that the recent GST rate cuts will benefit mid- and lower-end consumption. However, Roy expects minimal inventory destocking in the sector amid lower inventory days.

  • VIP Industries rises as a consortium led by Multiples Equity receives Competition Commission of India (CCI) approval to acquire up to 32% stake from promoters Dilip Piramal and family. Upon completion, Multiples Private Equity will gain control of VIP Industries.

  • Deven Choksey retains its 'Accumulate' call on Godrej Consumer Products, with a target price of Rs 1,433 per share. This indicates a potential upside of 13.9%. The brokerage expects a margin recovery from H2FY26, led by easing palm oil prices, cost optimisation initiatives, and a rebound in soap volume offtake. It expects the firm's net profit to grow at a CAGR of 19.2% over FY26-27.

  • Websol Energy Systems surges as its board of directors schedules a meeting on September 1 to consider a proposal for a stock split.

  • Adwaita Nayar, Co-Founder and Executive Director of FSN E-Commerce Ventures (Nykaa), highlights plans to expand the company's international presence to compete with global cosmetics giants beyond India. Nykaa is launching its brand Kay Beauty in the UK through a partnership with Space NK, a cosmetics platform owned by Ulta Beauty. The UK rollout will cover 13 stores and Space NK’s online platform.

  • Manappuram Finance is rising as its promoter group, including VP Nandakumar and Sushama Nandakumar, enter a Rs 4,384 crore share transfer deal with BC Asia Investments XXV. As per the deal, the company will issue 9.2 crore shares and warrants, each worth Rs 2,192.5 crore, to BC Asia Investments XXV. The deal will make BC Asia Investments XXV a co-promoter in Manappuram Finance.

  • Aditya Birla Capital’s subsidiary, Aditya Birla Capital Digital, receives in-principle approval from the RBI to operate as an online payment aggregator. This approval allows it to process digital payments for merchants and customers.

  • Power Mech Projects secures an order worth Rs 370.8 crore from Mahan Energen for construction work at the Mahan Phase-III power project, which has two 800 MW units, in Singrauli, Madhya Pradesh.

  • Jahangir Aziz, Head of Emerging Market Economics at JPMorgan, believes that the 50% US tariffs on Indian exports, effective August 27, will impact employment in labour-intensive sectors such as textiles, shrimp, and gems & jewellery. He believes the sectoral effects will be severe than the overall GDP impact. The tariffs will affect 66% of India’s $86.5 billion in exports, with $60.2 billion worth of goods facing the 50% duty.

  • Dr Agarwals Health Care (AHCL) and its subsidiary, Dr Agarwals Eye Hospital (AEHL), are falling sharply as their board of directors approves the merger of AEHL into AHCL. Shareholders of AEHL will get 23 shares in AHCL for 2 shares held in AEHL. The company will also acquire 1.3 lakh shares (or 0.8% stake) in AEHL for Rs 70 crore through a preferential issue.

  • Tata Steel acquires 353 crore shares worth Rs 3,104 crore in its Singapore-based arm T Steel Holdings. The subsidiary will continue as a wholly-owned foreign unit of the company after the deal.

  • GR Infraprojects rises as it receives a letter of intent (LoI) from REC Power Distribution for a transmission system project in Madhya Pradesh, with annual transmission charges of Rs 367.1 crore. The company will set up 220 kilo volt (kV) bus sections and other transmission infrastructure and will undertake operations & maintenance for the next 35 years.

  • Morgan Stanley downgrades SBI Cards to an 'Underweight' rating with a lower target price of Rs 710. The brokerage notes the sharp rise in credit costs, which reached a 16-quarter high of 9.6% in Q1, driven by an increase in stressed assets. Operating costs rose 17% YoY to Rs 2,123 crore, and finance costs were up 6%. Return metrics weakened, with both return on average assets (ROAA) and return on average equity (ROAE) declining YoY.

  • Mangal Electrical Industries' shares debut on the bourses at a 0.9% discount to the issue price of Rs 561. The Rs 400 crore IPO received bids for 9.5 times the total shares on offer.

  • Power Grid Corp of India's board of directors approves a capex worth Rs 209.4 crore to set up the North-Eastern Region Expansion Scheme-XXIII (NERES-XXIII).

  • Jaiprakash Power Ventures surges to its 5% upper limit as its board approves setting up a 50 MW solar plant. The project will come up at the company’s 500 MW Jaypee Bina Thermal Power Plant site in Bina, Madhya Pradesh. The estimated investment for the project is around Rs 300 crore.

  • Motilal Oswal maintains a 'Buy' rating on Coforge with a target price of Rs 2,240. The brokerage highlights that the company is targeting over 20 deals exceeding $20 million in FY26, maintaining strong momentum in securing large contracts. The company reports a win rate of approximately 40–45% for proactive proposals, significantly outperforming Request for Proposal (RFP) led deals. It has also provided EBIT margin guidance of around 14% for FY26.

  • Thirumalai Chemicals' board of directors approves the allotment of 1.6 crore shares worth Rs 450.6 crore at a price of Rs 277 per share through a preferential issue.

  • HFCL receives an order worth Rs 101.8 crore from the Indian Army to supply tactical optical fibre cables and accessories.

  • Biocon is rising as it receives US FDA tentative approval for its abbreviated new drug application (ANDA) for Sitagliptin Tablets, used to treat type 2 diabetes. The drug had a market size of $6.9 billion in 2024.

  • InterGlobe Aviation (IndiGo) is falling as its promoter, Rakesh Gangwal, reportedly plans to sell a 3.1% stake (or 1.2 crore shares) worth Rs 7,028 crore at an offer price of Rs 5,808 per share through a block deal.

  • Nifty 50 was trading at 24,575.10 (-137.0, -0.6%), BSE Sensex was trading at 80,754.66 (-31.9, 0.0%) while the broader Nifty 500 was trading at 22,652.10 (-116.6, -0.5%).

  • Market breadth is moving down. Of the 2,057 stocks traded today, 584 were on the uptrend, and 1,387 went down.

Riding High:

Largecap and midcap gainers today include Waaree Energies Ltd. (3,417.30, 4.7%), Kalyan Jewellers India Ltd. (510.15, 2.4%) and JSW Infrastructure Ltd. (302, 1.8%).

Downers:

Largecap and midcap losers today include Adani Total Gas Ltd. (592.55, -6.8%), InterGlobe Aviation Ltd. (5,727, -5.3%) and Coromandel International Ltd. (2,265.20, -4.5%).

Volume Rockets

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

Top high volume gainers on BSE included Vardhman Textiles Ltd. (450.20, 13.0%), Sundram Fasteners Ltd. (1,020.30, 5.1%) and AstraZeneca Pharma India Ltd. (8,320, 3.8%).

Top high volume losers on BSE were Adani Total Gas Ltd. (592.55, -6.8%), InterGlobe Aviation Ltd. (5,727, -5.3%) and IRB Infrastructure Developers Ltd. (42.36, -4.2%).

RBL Bank Ltd. (250.85, -1.8%) was trading at 10.2 times of weekly average. Mahanagar Gas Ltd. (1,271.40, -0.9%) and Alembic Pharmaceuticals Ltd. (935, -0.2%) were trading with volumes 7.1 and 6.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

8 stocks hit their 52 week highs, while 9 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Eicher Motors Ltd. (6,133, -0.3%), Maruti Suzuki India Ltd. (14,752, 0.3%) and TVS Motor Company Ltd. (3,256, -0.5%).

Stocks making new 52 weeks lows included - AIA Engineering Ltd. (3,017.40, -0.7%) and HFCL Ltd. (69.71, -2.9%).

7 stocks climbed above their 200 day SMA including Sundram Fasteners Ltd. (1,020.30, 5.1%) and Caplin Point Laboratories Ltd. (2,145, 2.9%). 43 stocks slipped below their 200 SMA including 360 One Wam Ltd. (1,033.20, -5.0%) and CESC Ltd. (154.17, -4.6%).

 
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