Informist, Tuesday, Aug. 5, 2025 Tel +91 (22) 6985-4000

Equity Alert: IndusInd Bank up 6?ter Rajiv Anand appointed new MD, CEO

MUMBAI--1020 IST--IndusInd Bank rose nearly 6% to a high of INR 848.70 Tuesday after the bank appointed Rajiv Anand as its new managing director and chief executive officer. Many brokerages are positive on the appointment. At 1015 IST, the stock gave up some gains and was at INR 824.70, up 2.6% from Monday. It was the top Nifty 50 gainer.

"We view the appointment of a seasoned private banker--versus rumors about the risk of hiring a PSB (public sector bank) banker--as a positive development for the bank in the long run...however, we believe that the new MD & CEO will have a tough task rebuilding the leadership team, reorienting the bank's asset/liability mix, reinforcing governance standards, and restoring stakeholders' confidence, before setting off a turnaround for the bank once again," Emkay Global Financial Services said in a report.

The brokerage said while clarity on the long-term strategy will take time, the stock's performance in the immediate term is likely to be driven by near-term outcome on margin and asset quality "with the risk of kitchen sinking remaining a niggling concern." The brokerage has maintained a 'reduce' rating on the stock with a target price of INR 700.

ICICI Direct Research also has similar views on the appointment. "The leadership overhang at IndusInd Bank comes to an end with the appointment of Rajiv Anand as MD & CEO, bringing much-needed clarity at the top...his proven track record in wholesale banking and digital strategy boosts confidence in the bank's revival," the brokerage said. However, the firm warned that further upside in the stock hinges on consistent performance and a rebuild of the franchise.

The private lender announced the appointment to the exchanges late Monday. The appointment is effective from Aug. 25 up to Aug. 24, 2028. Before this role, Anand was deputy managing director at Axis Bank. IndusInd Bank has faced several exits at senior management level since late April, including former CEO Sumant Kathpalia and deputy CEO Arun Khurana, after the lender reported discrepancies in its derivatives accounting and microfinance loan portfolio in 2024-25 (Apr-Mar).

At 1015 IST, 11.69 million shares of the bank were traded on NSE, sharply higher than the 1.02 million shares traded till the same time Monday. (Akash Mandal)

Equity Alert: Torrent power rises 1% ahead of likely muted Apr-Jun earnings

New Delhi--0954 IST--Shares of Torrent Power rose 1% to a high of INR 1,321.30 ahead of its earnings outcome for the June quarter. The company's top as well as bottom lines are likely to take a hit for the reporting quarter, JM Financial said in an earnings preview. At 0952 IST, shares of the company traded at INR 1,314.10 on the NSE, up 0.2%.

The energy and power company's consolidated revenue is likely to fall 23% on year to INR 70 billion due to lower generation from its gas-fired plants, as early monsoons hit power demand, JM Financial said. The brokerage said the company's revenue is likely to decline due to estimated lower power generation in the quarter by 36% on year.

JM Financial shared similar views on the company's bottom line. The brokerage expects Torrent Power's net profit to fall 38% on year to INR 6.1 billion due to fall in earnings before interest, tax, depreciation, and amortisation. It expects an increase in the power generator's depreciation expenses by 11% on year and in finance cost by 5% on year.

JM Financial said that the company's EBITDA for the reporting quarter will likely fall 26% on year to INR 13.8 billion.

Power utility companies are expected to report a modest performance for the June quarter due to an on-year fall in subdued energy and peak demand. The demand for electricity in the latest quarter did not match the high demand seen in the year-ago quarter, courtesy early monsoon.

The company had reported an 88% increase in net profit for the year-ago quarter, reaching INR 9.72 billion, driven by increased power demand. Revenue from operations for the quarter had risen 23.3% to INR 90.34 billion during the same time.

Of the five brokerage reports available with Informist on the company, two have a 'buy' or equivalent rating, two have a 'sell' or equivalent rating, and one has 'hold' rating. The buy ratings have an average target price of INR 1,482. The stock has fallen nearly 9% since its March quarter earnings on May 14 after market hours. (Pallavi Singhal)

Equity Alert: Indices open down on likely profit booking after rebound Mon

MUMBAI--0942 IST--After bouncing back on Monday, benchmark indices opened lower Tuesday likely because of profit-booking. Some analysts have turned cautious after US President Donald Trump threatened India with higher import tariffs for buying crude oil from Russia. However, some others believe there will be a limited impact of US tariffs on India.

At 0940 IST, the Nifty 50 was at 24629.60 points, down 93.15 points, or 0.4%. The BSE Sensex was at 80674.92 points, down 343.80 points, or 0.4%. Fall in shares of most oil and gas, information technology, and financial services companies weighed on the market. Indian equity market sharply underperformed all its global peers. The fear gauge of the market, the India VIX, rose 1.2% to 12.1700 but came off it and was up 0.3% at 12.0075.

On the sectoral front, Nifty Media and Nifty PSU Bank indices were the top gainers, up around 0.4?ch. Nifty Oil & Gas index was down 0.7%. Nifty Financial Services was down 0.4%. The index was down for the fourth consecutive session. Broader market indices were mixed, with Nifty Midcap 50 down 0.4% and Nifty Smallcap 100 up 0.2%.

IndusInd Bank, up 3%, was the top gainer in the Nifty 50. The bank has appointed Rajiv Anand as the managing director and chief executive officer of the bank. Godfrey Phillips was the biggest gainer of the Nifty 500 stocks after its net profit for the June quarter rose nearly 64% on year. The stock hit a record high of INR 9,881.50.

Triveni Turbines was down more than 7?ter its June quarter net profit fell nearly 4% on year. It was the worst hit in the Nifty 500. Adani Ports and Special Economic Zone was down over 1% ahead of its Apr-Jun earnings. Bharti Airtel was slightly up ahead of its June quarter results.

Market participants are waiting for the outcome of the Reserve Bank of India's policy review on Wednesday. The rate-setting committee is expected to keep the repo rate steady at 5.50% after cutting it by 50 basis points in its meeting in June. (Simran Rede)

Equity Alert: US' new tariff threat to India likely to cap near-term gains

MUMBAI--0812 IST--US President Donald Trump's new tariff threats on India are likely to limit gains in the domestic equity market in the near term. This is likely to put pressure on corporate earnings and pose some impact on the country's economy, with the US increasingly putting pressure on India for importing crude oil from Russia. However, experts believe India is relatively insulated from the direct risk of US tariffs and may continue to perform better than most emerging markets in the long term.

"Indian corporates with significant exposure to the US will have to either re-orient to new markets or absorb some tariff increases in the short term to sustain volumes, given the relative disadvantage compared to other markets namely Vietnam, Indonesia, Thailand and Bangladesh", Rakesh Valecha, senior director of core analytical group at India Ratings & Research, said in a note.

Trump Monday threatened that he would "substantially" raise tariffs on Indian goods being shipped to the US due to its continued energy procurement from Russia. This will be in addition to the 25% tariff and an additional penalty Trump had announced last week. "India is not only buying massive amounts of Russian Oil, they are then, for much of the oil purchased, selling it on the open market for big profits."

The domestic equity market partially recovered losses caused by Trump's tariff threats last week. On Monday, the Nifty 50 closed 0.6% higher at 24722.75 points and the BSE Sensex ended 0.5% higher at 81018.72 points. The near-term support for the 50-stock index is pegged at 24500-24450 points and resistance at 24850-24900 points, according to a senior technical and derivatives analyst at a domestic broking firm. At 0734 IST, the GIFT Nifty August futures contract was 0.2% higher at 24755 points, which is around 32 points higher than the Nifty 50's spot level. (Anjana Therese Antony)

Equity Alert: Asian mkts rise tracking overnight gains in US; Kospi up 1.5%

MUMBAI--0748 IST--All Asian indices rose in early trade Tuesday, tracking overnight gains in the US indices. Investors across the region assessed US President Donald Trump's threats of a higher tariff on India due to the latter buying "massive amount" of crude oil from Russia.

South Korea's Kospi was up 1.5%. The country's consumer prices rose 2.1% on year in July, slightly slower than the rise of 2.2% in June. On a month-on-month basis, the consumer price index rose 0.2%, the fastest in four months, after no change in the previous month. Samsung SDI, Samsung Heavy Industries, and EcoPro BM were up 5-11% in the early session.

Japan's Nikkei 225 and Topix were up 0.5% and 0.7%, respectively, after a sharp sell-off in the previous session. Mitsubishi Heavy Industries surged over 4?ter it won a A$10 billion ($6.5 billion) deal from the Australian Navy to build 11 new frigates.

Among others, Australia's S&P/ASX 200 was up 1.1%. Northern Star Resources, REA Group, and WiseTech Global rose around 2?ch.

Following are the levels of key Asian indices at 0742 IST:

(Akash Mandal)

Equity Alert: US mkt surges; weak econ data reignites Sept rate cut hopes

MUMBAI--0727 IST--US indices surged Monday as investors looked for bargains after a sharp sell-off Friday. All three indices posted their biggest daily gain since May 27 as hope of a rate-cut in September were boosted amid weak economic data. The S&P 500 snapped a four-session losing run in the process and the Dow Jones Industrial Average ended a five-session losing streak. Both the indices ended over 1% higher. The Nasdaq Composite closed nearly 2% higher.

Shares of Tesla rose 2?ter the electric vehicle maker granted Chief Executive Officer Elon Musk 96 million shares worth about $29 billion in a new pay deal to keep him at the helm, Reuters reported. "Today is just a little bit of dip-buying...it does show a pretty healthy sign of folks out there looking for an opportunity to get in," Reuters reported Mike Dickson, head of research and quantitative strategies at Horizon Investments, as saying. Joby Aviation soared 19?ter the company said it will acquire helicopter ride-share company Blade Air Mobility's passenger business for up to $125 million. Blade Air shares rose 17.2%.

On the trade front, US President Donald Trump Monday said he will substantially raise tariffs on goods from India over its Russian oil purchases. Investors also still digested US President Donald Trump's firing of Bureau of Labor Statistics Commissioner Erika McEntarfer Friday after he accused her of faking the weak jobs numbers.

Post the weak jobs data Friday, which had triggered a sharp selloff in equities across the world, the CME Fedwatch tool now shows an over 90% probability of a 25-basis-point rate cut in the US Federal Reserve's September meeting, compared with a 64% probability a week ago and an 80% probability on Aug. 1.

Following are the closing levels of US indices Monday:

(Akash Mandal)

End

US$1 = INR 87.79

Edited by Ashish Shirke

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

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