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Trendlyne Marketwatch
02 Sep 2025, 04:00PM
Market closes lower, Trident to acquire a 30% stake in Trident Global for Rs 250 crore
By Trendlyne Analysis

 

 

Nifty 50 closed at 24,579.60 (-45.5, -0.2%) , BSE Sensex closed at 80,157.88 (-206.6, -0.3%) while the broader Nifty 500 closed at 22,724.40 (10.9, 0.1%). Market breadth is in the green. Of the 2,538 stocks traded today, 1,568 were in the positive territory and 928 were negative.

Indian indices closed in the red amid global uncertainty and selling pressure in banking and financial stocks. The Indian volatility index, Nifty VIX, rose 0.8% and closed at 11.4 points. Indian sugar stocks surged as the government lifted restrictions on ethanol production from sugarcane juice, syrup, and molasses for FY26. The Supreme Court also dismissed a plea challenging the rollout of 20% ethanol-blended petrol (E20).

Nifty Midcap 100 & Nifty Smallcap 100 closed in the green. BSE Power and S&P BSE Utilities were among the top index gainers today. According to Trendlyne’s Sector dashboard, Telecommunications Equipment emerged as the best-performing sector of the day, with a rise of 3.3%.

Asian indices closed mixed, while European indices are trading lower. US index futures traded in the red indicating a cautious start to the trading session. Investors are awaiting the US employment situation report for August, which the Bureau of Labor Statistics (BLS) is set to release on September 5. Analysts expect private payrolls to come in softer at 75,000, down from 83,000 last month. The unemployment rate is projected to edge up slightly to 4.3% from 4.2% in the previous month.

  • Relative strength index (RSI) indicates that stocks like Maruti Suzuki, HBL Power Systems, Eicher Motors and TVS Motor are in the overbought zone.

  • MRF surges to its all-time high of Rs 1,55,000 on expectations of a GST cut for tyres. The Automotive Tyre Manufacturers Association, representing six major producers covering 90% of India’s output, seeks a reduction from 28% to 5%.

  • Deven Choksey retains its 'Accumulate' call on Hindustan Unilever, with a target price of Rs 2,870 per share. This indicates a potential upside of 7.3%. The brokerage expects strong medium-term growth, driven by premiumisation-led market share gains and higher traction in the beauty & wellbeing segment. It expects the firm's revenue to grow at a CAGR of 6.1% over FY26-27.

  • Trident surges as it plans to invest Rs 250 crore to acquire 30.4% stake in Trident Global (TGCL), a company that focuses on premium home textiles. The deal gives Trident access to India’s branded home textiles market and helps expand its towels and bed sheets business.

  • Tyre manufacturers like MRF and Ceat rise as strong auto sales and expectations of replacement demand boost sentiment. Kotak Institutional Equities believes that various government initiatives, including potential GST cuts, will support auto demand. A shift to an 18% GST rate across most segments could lower on-road prices by 3–8% for two-wheelers, passenger vehicles, commercial vehicles, and tractors, potentially driving higher volumes.

  • DEE Development Engineers rises sharply as it receives a Rs 170 crore letter of intent (LoI) from a leading Indian PSU in the power sector. The contract is for supplying approx 1,900 metric tonnes of critical piping for two major power projects.

  • Jain Irrigation Systems is rising as its board of directors approves raising up to Rs 500 crore through a qualified institutional placement.

  • Motilal Oswal maintains its 'Buy' call on Suzlon Energy, with a target price of Rs 80 per share. This indicates a potential upside of 36.8%. The brokerage anticipates the company to benefit from policy tailwinds, localised supply chain advantages, in-house R&D, and execution readiness compared to its peers. It expects the firm's revenue to grow at a CAGR of 45.2% over FY26-27.

  • TCS is reportedly rolling out salary hikes ranging from 4.5% to 7% for most of its employees. This follows a surprise move to cut 2% of its workforce, or about 12,000 employees, last month. Reports indicate that the hikes mainly apply to employees at the lower and mid levels of the hierarchy.

  • Glenmark Pharmaceuticals to launch Eribulin Mesylate injection in the US. The drug is a bioequivalent to Eisai's Halaven injection, which did sales of $66 mn last fiscal year, according to IQVIA.

  • BSE is rising as the NSE shifts Nifty weekly expiry from Thursday to Tuesday. This change positions BSE’s Sensex options to expire on Thursdays, potentially attracting more trading activity around mid-week policy announcements and event-driven trades.

  • Paisalo Digital rises sharply as its board of directors schedules a meeting for September 4 to consider a proposal for fundraise. The company's promoter, Equilibrated Venture Cflow, acquires an additional 6.6 lakh shares in the company.

  • Morgan Stanley maintains an 'Overweight' rating on Reliance Industries (RIL) with a higher target price of Rs 1,701. The brokerage expects the company to benefit significantly from China’s recent efforts to reduce overcapacity in the energy and solar sectors. RIL’s energy costs could drop by up to 40% by 2030 as it transitions to renewables for its internal power needs within the next two years. With domestic sales and exports set to begin, the brokerage estimates that new energy could contribute 13% to RIL’s earnings.

  • Bharat Electronics secures orders worth Rs 644 crore in August 2025. Major orders include data centre, ship fire control, tank navigation, communication equipment, seekers, jammers, simulators, electronic voting machines, along with upgrades, spares, and services.

  • Sugar stocks like Shree Renuka Sugars, Rajshree Sugar & Chemicals, and Kothari Sugars surge more than 15% as the government lifts restrictions on ethanol production from sugarcane juice, syrup, and molasses for FY26. The Supreme Court also dismisses a plea challenging the rollout of 20% ethanol-blended petrol (E20).

  • Rolex Rings is rising as its board of directors schedules a meeting on September 4 to consider a proposal for a stock split.

  • Dilip K Banthiya, CFO of Radico Khaitan, expects over 20% volume growth in the Prestige & Above (P&A) segment in FY26, with no impact on demand from rains in North India. He anticipates the luxury and semi-luxury portfolio, currently 10% of sales, to rise to 20–25% over the next 4–5 years. He aims for high teens margins by FY28 and plans to make the company debt-free by mid-next year.

  • Shankara Building Products is rising as it receives National Company Law Tribunal (NCLT) approval to merge its subsidiary, Shankara Buildpro, with itself.

  • Hero MotoCorp is rising as its monthly wholesales grow 8% YoY to 5.5 lakh units in August due to higher motorcycle sales and domestic business. Exports surge by 72.1% YoY to 34,588 units during the month.

  • Prestige Estates Projects falls as it issues a corporate guarantee worth Rs 1,000 crore to the Hongkong and Shanghai Banking Corp (HSBC) in favour of its subsidiary, Prestige Acres.

  • The 56th GST Council Meeting is scheduled for September 3 and 4 to discuss the Centre’s proposal for a simplified tax structure with two primary rates: 5% and 18%, along with a 40% rate for sin and demerit goods. The proposal also includes exemptions for life and health insurance premiums. Other key topics on the agenda include rate rationalization, compensation cess, digital invoicing, and sector-specific matters such as online gaming and drone taxation.

  • Reliance Infrastructure rises to its 5% upper limit as it receives approval from the National Company Law Tribunal (NCLT) to merge Reliance Velocity with itself.

  • Websol Energy Systems is rising as its board of directors approves a 10-for-1 stock split. The company's board also approves the capacity expansion of its solar cell and solar module production by 4 GW each, with a capex of Rs 3,000 crore.

  • Puravankara surges as its wholly-owned subsidiary, Purva Blue Agate, secures the redevelopment rights for a prime residential society in Malabar Hill, Mumbai, with an estimated gross development value (GDV) of Rs 2,700 crore.

  • Indraprastha Gas is rising as its board of directors approves forming a 74:26 joint venture (JV) with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) to set up a solar power plant in the state.

  • Nifty 50 was trading at 24,662.90 (37.9, 0.2%), BSE Sensex was trading at 80,520.09 (155.6, 0.2%), while the broader Nifty 500 was trading at 22,747.65 (34.1, 0.2%).

  • Market breadth is overwhelmingly positive. Of the 2,056 stocks traded today, 1,460 were gainers and 533 were losers.

Riding High:

Largecap and midcap gainers today include MRF Ltd. (1,53,885, 6.3%), Rail Vikas Nigam Ltd. (331.85, 5.1%) and NMDC Ltd. (72.80, 4.6%).

Downers:

Largecap and midcap losers today include Tube Investments of India Ltd. (3,047.50, -3.0%), Indus Towers Ltd. (329.45, -2.9%) and Mahindra & Mahindra Ltd. (3,234.50, -2.4%).

Volume Shockers

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

Top high volume gainers on BSE included Sammaan Capital Ltd. (139.36, 11.1%), Cello World Ltd. (568.75, 6.3%) and MRF Ltd. (1,53,885, 6.3%).

Top high volume losers on BSE were Five-Star Business Finance Ltd. (526.95, -4.1%) and Timken India Ltd. (2,931.30, 0.0%).

ITI Ltd. (301.90, 6.2%) was trading at 31.4 times of weekly average. Balrampur Chini Mills Ltd. (566.85, 4.7%) and KEC International Ltd. (862.05, 5.4%) were trading with volumes 18.0 and 9.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

9 stocks made 52 week highs, while 2 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Bosch Ltd. (41,315, 1.3%), Eicher Motors Ltd. (6,349, 1.1%) and MRF Ltd. (1,53,885, 6.3%).

Stocks making new 52 weeks lows included - Deepak Nitrite Ltd. (1,758.80, -1.7%) and Five-Star Business Finance Ltd. (526.95, -4.1%).

47 stocks climbed above their 200 day SMA including Sammaan Capital Ltd. (139.36, 11.1%) and ITI Ltd. (301.90, 6.2%). 7 stocks slipped below their 200 SMA including Honeywell Automation India Ltd. (37,660, -1.9%) and Redington Ltd. (240.81, -1.3%).

 
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