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Trendlyne Marketwatch
18 Sep 2025, 04:03PM
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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