India Market Recap
Indian equity benchmarks staged a strong recovery on Friday after two consecutive sessions of losses, supported by short-covering following the previous session’s sharp sell-off. The BSE Sensex gained 879.09 points, or 1.23%, to close at 72,472.33, while the Nifty 50 advanced 288.65 points, or 1.30%, to 22,520.45. Despite the rebound, investors remain cautious amid elevated crude oil prices and geopolitical uncertainty. On the technical front, Nifty support is placed around 22,400–22,300, while resistance is seen in the 22,650–22,750 range.
US Market Recap
US equity futures traded higher on Monday after major Wall Street indices ended the previous week with gains. S&P 500 futures advanced 0.12%, Nasdaq 100 futures rose 0.24%, and Dow Jones futures gained 28 points, or 0.05%. The Dow and S&P 500 recorded their second weekly gains in three weeks, while the Nasdaq Composite extended its winning streak to four weeks, supported by strength in technology stocks. Market sentiment remains sensitive to geopolitical developments, energy prices and the outlook for interest rates.
Asian Market Update:
Asian markets opened mixed on Monday as escalating tensions in the Middle East heightened concerns over regional energy supplies. South Korea’s Kospi declined 1.34%, while Australia’s S&P/ASX 200 advanced 0.61%. Japanese markets remained closed for a holiday. Investors continued to assess the potential impact of rising crude oil prices and geopolitical risks on inflation, economic growth and regional equity performance.
Commodity Check
Crude oil prices moved higher as escalating Middle East hostilities and attacks involving Yemen’s Iran-backed Houthi group and Saudi Arabia raised concerns over further disruptions to regional energy supplies. Brent crude futures gained 0.73% to $105.48 per barrel, while US West Texas Intermediate (WTI) rose 0.64% to $92.44. The latest developments followed weekend attacks on oil tankers and a deadly strike on Riyadh’s international airport. The Houthis claimed responsibility for Saturday’s airport attack, while Saudi authorities reported further injuries following a subsequent attack on Sunday. US President Donald Trump said Washington was considering joining Saudi Arabia’s military campaign against the Houthis. The escalation adds to supply-side uncertainty amid the wider conflict involving Iran, increasing the risk of sustained volatility in crude prices and inflationary pressure for oil-importing countries such as India.
Stocks In News
- Inox Green Energy: Arm Vibhav Converts Inter-Corporate Deposits Worth Rs 150 Crore Into Equity Shares.
- PTC Industries: QIP Closes; Allots 8.55 Lakh Shares to QIBs at Rs 21,060 Per Share.
- Alok Industries: Arm Completes Sale of 100% Equity Stake in Mileta.
- Tech Mahindra: Arm LCC Networks Poland Voluntarily Liquidated.
- Mahindra & Mahindra: Updates on Sale of 51% Equity Stake in Novavayu Aerospace Limited, a Step-Down Wholly Owned Subsidiary of the Company
- UGRO Capital: Approves Allotment of 1,000 Bonds Worth $10 Million
- Tata Motors: Arm TML CV Holdings BV Raises Offer Price to €14.4/Share From €14.1/Share.
- A-One Steels India: Two Writ Petitions Filed in Bombay High Court Challenging Aspects Related to RHP; Next Hearing on Oct. 15.
- Avantel: Receives Rs 12 Crore Order From L&T for Annual Maintenance of Satcom Equipment.
- Capri Global Capital: Board to Consider Fundraising via Equity and Debt on Oct. 14.
- Sarda Energy: Arm Emerges Preferred Bidder for Manganese Mining Lease in Andhra Pradesh; Mine Has 0.7 MT Manganese Ore Reserves.
- Shilpa Medicare: Telangana Unit Receives Good Manufacturing Practice Certification From AGES, Austria.
- Heritage Foods: Completes Payment for Additional 5.6% Stake in HNFL.
- Airfloa Rail: Signs MoU With China's KTK Group for India-China JV to Bid for Metro Platform Screen Door Projects in India.
- Maithan Alloys: Acquires 0.2% Stake in ESDS Software for Rs 33.4 Crore. Acquires 0.1% Stake in HFCL for Rs 40.61 Crore.
- Chemplast Sanmar: Signs Power Purchase Agreement With Yesaryes Energy; to Acquire 27% Stake for Rs 45 Lakh.
- Viviana Power: Receives Rs 467 Crore Orders From Gujarat Power Utility for HT Line Conversion and Underground Cabling Works.
- Baazar Style Retail: Opens New Store in Prayagraj; Total Store Count Rises to 285.
- KEC International: Receives New T&D Orders Worth Rs 1,014 Crore in India; to Set Up 765 kV Transmission Line in Western India.
- ADF Foods: US arm signs forbearance pact with Ascot; to receive $1.75 million settlement
- Oswal Pumps: To set up 1.2 GW solar-cell unit in Haryana; redirects Rs 159 crore IPO proceeds to cell project; drops plans for frames, EVA and module units.
- PCBL Chemical: Arm Nanovace Tech Incorporates Nanovace Advanced Materials.
- Oswal Pumps: Arm to Set Up 1.2 GW Solar Cell Unit in Haryana With Rs 456 Crore Investment.
- Saatvik Green Energy: Receives Rs 100 Crore Order From Maharashtra Electricity Utility for Solar Water Pumps.
- STL Networks: Incorporates Subsidiary STL Networks DC.
- Authum Investment: Acquires 25% Stake in Vibhav Energy for Rs 100 Crore via ICD Conversion.
- Milky Mist: Clarifies It Has Not Received Any FSSAI or Tamil Nadu Food Safety Notice on Paneer Products.
- Meesho: Mega Blockbuster Sale Records ~75% YoY Growth in Day 1 Orders.
- Greaves Cotton: Ampere Announces Addition of Over 50 New Ampere Experience Centres
- HG Infra: Incorporates subsidiary 'HG Talent Edge Foundation ITI Bhiwadi'.
- 63 Moons Technologies: Arm 63SATS Cybertech raises FY27 revenue guidance to Rs 600 crore from Rs 350 crore; H1 billed revenue crosses Rs 218 crore.
- Godrej Properties: Bandra Bay transformation project achieves first milestone.
- SJS Enterprises: Arm Walter Pack Automotive Products India to invest Rs 49 crore for capacity addition and set up new manufacturing facility in Pune.
- SJS Enterprises: Arm SJS Display Electronics leases Pune facility for display expansion; to invest Rs 81 crore in display-electronics unit and expand into cover-glass manufacturing.
- P N Gadgil Jewellers: Opens 81st store in Ayodhya.
- Infosys: Sees no material impact from US PERM suspension; to cooperate with US Department of Labor on Permanent Labor Certification Program.
- NTPC Green: 4th Part Capacity of 66.18 MW of Bikaner Energy Project Out of 650 MW of Solar Component Declares Commercial Operation
- NSE: Dinesh Pant Resigns as Director on Board
Earnings
- Revenue up 18.4% to Rs 19,206 crore
- EBITDA up 14.1% to Rs 1,403 crore
- EBITDA Margin at 7.3% vs 7.6%
- Net Profit up 7.6% to Rs 804 crore
- Net Profit at Rs 375 crore vs Rs 74.2 crore YoY
- Total Income at Rs 2,625 crore vs Rs 1,543 crore YoY
- Total Income up 70.1% at Rs 2,625 crore YoY
- Net Profit Up 5.6% at Rs 43.1 crore vs Rs 40.8 crore YoY
- Net Premium Income up 13% at Rs 2,553 crore YoY
- Net Premium Income at Rs 2,553 crore vs Rs 2,260 crore YoY
- To Raise Up to Rs 288 crore via NCDs
- Net Profit at Rs 58.5 crore vs Loss of Rs 8.9 crore YoY
- Revenue up 30.4% at Rs 133 crore vs Rs 102 crore YoY
- EBITDA at Rs 9.4 crore vs Loss of Rs 5.9 crore YoY
- EBITDA Margin at 7.1% in Q2
- Net Profit down 45.9% at Rs 88.3 crore vs Rs 163 crore QoQ
- Total Income down 18.3% at Rs 345 crore vs Rs 422 crore QoQ
- To Pay Interim Dividend of Rs 4/Share
- Net Profit up 9.2% at Rs 275 crore vs Rs 251 crore YoY
- Total Income up 7.8% at Rs 1,131 crore vs Rs 1,050 crore YoY
- Net Profit down 21.7% at Rs 59.2 crore vs Rs 75.6 crore QoQ
- Total Income down 12.1% at Rs 128 crore vs Rs 146 crore QoQ
- To Pay Interim Dividend of Rs 2/Share
Business Update
- Pre-Sales Value Down 9% YoY at Rs 1,830 crore
- Collections Up 9% YoY at Rs 1,010 crore
- Operational Capacity Up 24% YoY at 20,763 MW in H1
- Added 621 MW Capacity in Q2
- Commissioned 3.08 GWh BESS Capacity in Q2
- Power Sales Up 32% YoY at 25,747 Million Units in H1
- Production down 19.2% at 1.22 Lk Units YoY
- Sales down 16.3% at 1.14 Lk Units YoY
- Sales Value down 69% at Rs 224 crore YoY
- Collection down 14% at Rs 190 crore YoY
- Carpet Area Sold down 68% at 72,883 Sq Ft YoY
- Pre-Sales down 5% at Rs 1,258 crore YoY
- Collections flat at Rs 1,189 crore YoY
- Consolidated Revenue up 15% at Rs 633 crore YoY
- Gross Margins Expected to Remain Broadly Stable
- Company Continues to Monitor Operating Environment
- Net Debt Stands at Rs 911 crore as of Sept 30