Market trades higher, BMW Ventures' lists at a 21.2% discount
By Trendlyne Analysis

 

Nifty 50 opens flat, after gaining 9.5 points in the pre-opening session. Indian indices closed flat on Tuesday. FIIs sold shares worth Rs 2,327.1 crore, while DIIs bought Rs 5,761.6 crore in Indian equities on the same day.

Nifty Smallcap 100 and Nifty Midcap 100 open flat. Nifty Consumer Durables and Nifty Metal open in the green. Nifty IT opens in the green, tracking the tech-heavy Nasdaq 100 index, which closed 0.3% higher on Tuesday.

European indices closed mixed on Tuesday. Major Asian indices are trading with varied trends. US indices closed in the green on Tuesday. CoreWeave ended 11.7% higher as it signed a $14 billion deal with Meta to supply computing power for AI applications. Meanwhile, the US government is on the brink of a shutdown after Democrats and Republicans failed to reach an agreement on a crucial bill to keep operations running.

  • Bajaj Auto's total wholesales grow 9% YoY to 5.1 lakh units in September, driven by an 18% increase in exports. For FY26 YTD, the company's total wholesales rise 4%, but domestic sales decline 6% YoY to 13.8 lakh units.

  • The New India Assurance Co receives a demand order worth Rs 2,379.1 crore from the Palghar Commissionerate for non-payment of GST.

  • Centrum Broking initiates coverage on BSE with a 'Buy' rating and a target price of Rs 2,475. The brokerage highlights structural growth in India’s capital markets and increasing retail participation, despite temporary pressure on trading volumes from regulatory measures. It notes a sharp rise in trading volumes across cash, index options, and futures post-COVID, driven by growing retail involvement and the wider adoption of systematic investing strategies.

  • Pfizer is rising as it receives a 3-year relief from the 100% import tariffs from the US Government after it unveils plans for a $70 billion (~ Rs 6.2 lakh crore) capex for R&D and domestic manufacturing. The company also agrees to lower the prices of drugs sold to the Medicaid program for low-income Americans.

  • BMW Ventures' shares debut on the bourses at a 21.2% discount to the issue price of Rs 99. The Rs 231.7 crore IPO received bids for 1.5 times the total shares on offer.

  • Epack Prefab Technologies' shares debut on the bourses at a 9.9% discount to the issue price of Rs 204. The Rs 504 crore IPO received bids for 3.1 times the total shares on offer.

  • The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) revises its FY26 inflation forecast to 2.6%, down from the earlier estimate of 3.1% made in August. It also lowers quarterly projections. RBI Governor Sanjay Malhotra states that the overall inflation outlook has become significantly more benign in recent months, mainly due to a sharp decline in food inflation.

  • Jain Resource Recycling's shares debut on the bourses at a 14.3% premium to the issue price of Rs 232. The Rs 1,250 crore IPO received bids for 15.9 times the total shares on offer.

  • ICICI Bank receives a show cause notice with a Rs 216.3 crore GST demand from the Mumbai East Commissionerate.

  • Arvind Fashions is falling as its Managing Director (MD) and Chief Executive Officer (CEO), Shailesh Chaturvedi, tenders his resignation, effective September 30.

  • RBI’s Monetary Policy Committee (MPC) keeps the policy repo rate unchanged at 5.5% and maintains its policy stance at ‘Neutral.’ RBI Governor Sanjay Malhotra says GST rationalisation is expected to help ease inflation. He notes that India’s external sector remains resilient despite some volatility and rupee depreciation. The central bank is closely monitoring the situation and will take action as needed to maintain stability.

  • AGI Infra is rising as its subsidiary, AGI Construction, bags an order worth Rs 325 crore to construct buildings for group housing residential projects. The projects have an area of 28 lakh sq ft.

  • SKF India's board of directors appoints Shailesh Kumar Sharma as the Managing Director (MD) for five years, succeeding Mukund Vasudevan, effective October 1.

  • RateGain Travel Technologies to acquire US-based Sojern for $250 million (around Rs 2,219 crore) to expand its presence in the travel and hospitality sector.

  • L&T Technology Services is rising as it signs a $100 million (around Rs 888 crore) multi-year agreement with a US-based industrial equipment manufacturer. Under the agreement, the company will support product development, engineering, and automation, while also setting up a Center of Excellence to simplify platforms and help the client move toward digital and AI-driven operations.

  • Nifty 50 was trading at 24,626 (14.9, 0.1%), BSE Sensex was trading at 80,173.24 (-94.4, -0.1%) while the broader Nifty 500 was trading at 22,765.40 (31.3, 0.1%).

  • Market breadth is in the green. Of the 1,993 stocks traded today, 1,283 were on the uptrend, and 657 went down.

Riding High:

Largecap and midcap gainers today include Shriram Finance Ltd. (636.65, 3.3%), Indian Renewable Energy Development Agency Ltd. (152.92, 2.8%) and Escorts Kubota Ltd. (3,541, 2.7%).

Downers:

Largecap and midcap losers today include Bharti Hexacom Ltd. (1,626, -2.0%), Schaeffler India Ltd. (4,137.40, -1.7%) and Swiggy Ltd. (416, -1.6%).

BSE 500: highs, lows and moving averages

2 stocks took off, crossing 52 week highs, while 1 stock hit their 52 week lows.

Stocks touching their year highs included - Tata Investment Corporation Ltd. (10,872, 5.2%) and RBL Bank Ltd. (277.30, 0.0%).

Stock making new 52 weeks lows included - Praj Industries Ltd. (333.55, 1.1%).

11 stocks climbed above their 200 day SMA including Shriram Finance Ltd. (636.65, 3.3%) and ZF Commercial Vehicle Control Systems India Ltd. (13,098, 1.5%). 4 stocks slipped below their 200 SMA including Afcons Infrastructure Ltd. (447.05, -1.8%) and V-Guard Industries Ltd. (371.60, -1.0%).

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