Informist, Wednesday, Aug. 6, 2025 Tel +91 (22) 6985-4000

Equity Alert: Asia mkts end higher; chip stocks fall on Trump tariff threats

MUMBAI--1326 IST--Most Asian indices ended the session higher, with Taiwan's Taiex being the only exception. Indices in the region have been buoyed by increased hope of a rate cut by the US Federal Reserve amid concerns of a slowdown in the US economy.

Australia's S&P/ASX 200 ended 0.8% higher, having hit a fresh record high earlier in the session. REA Group, Northern Star Resources, and Wash Soul Pattinson ended 3-7% higher. China's CSI 300 closed 0.2% higher after being choppy in early trade. China CSSC Holdings, Shaanxi Coal Industry, and AVIC Shenyang Aircraft ended 3-10% higher.

Semiconductor stocks across the region fell after US President Donald Trump said he would unveil new tariffs on semiconductors and chips as soon as next week. Japan's Tokyo Electron and Lasertec fell 3% and 2%, respectively. Renesas Electron fell 4%. South Korean chipmakers also fell, with SK Hynix falling 2% and Samsung Electronics falling 1%. Taiwan's TSMC fell 2%.

Japan's Nikkei 225 and Topix ended 0.6% and 1% higher, respectively.

Following are the levels of key Asian indices at 1323 IST:

(Akash Mandal)

Equity Alert: Indices fall as RBI holds repo rate; realty stocks worst hit

MUMBAI--1252 IST--Benchmark indices fell a bit amid some market volatility after the Reserve Bank of India's Monetary Policy Committee kept the repo rate unchanged at 5.50% and retained a 'neutral' policy stance, which was broadly in line with expectations. Some analysts were concerned about the increased inflation estimate for 2026-27 (Apr-Mar), which may weigh on the market as it further reduces chances of a rate cut in the subsequent meetings.

At 1250 IST, the Nifty 50 was down 0.2% at 24598.75 points and the BSE Sensex was down 0.1% at 80635.12 points. Information technology, healthcare, and some financial services stocks dragged the 50-stock index down. IndusInd Bank fell nearly 3%, followed by Tech Mahindra and Wipro, which fell over 2?ch. Bajaj Auto shares recovered and were currently trading slightly higher. The stock had fallen 1?ter announcing its June quarter earnings, wherein its bottom line for the quarter came in higher than expectations.

Banking and financial services stocks were especially volatile as the Nifty Bank, Nifty Financial Services, and Nifty PSU Bank all swung between gains and losses. Most pharmaceutical and healthcare stocks fell amid US President Donald Trump's threats about imposing tariffs on pharma products "in the coming week or so." Dr. Reddy's Laboratories, Cipla, Sun Pharmaceutical Industries, and Apollo Hospital Enterprises were down 1-2%.

Nifty Realty declined nearly 2% and fell to an over two-month-low, becoming the biggest laggard among sectoral indices. "The Indian real estate is pressured by Trump's new 25% and a notable 20% plunge in housing sales across top metros, as per the latest ANAROCK data," Anuj Puri, chairman of Anarock group, said in a note. Puri said a rate cut from the RBI leading to lower interest rates would have boosted the affordable housing segment, which has been under considerable pressure in recent years. All constituents in the Nifty Realty index traded in the red.

Nifty IT, Nifty Pharma, Nifty Healthcare, and Nifty Media were down over 1?ch. All broader market indices were in the red, with Nifty Smallcap 250 and Nifty Smallcap 50 down over 1?ch. (P. Madhu Kumar)

Equity Alert: Banking, fincl svcs indices fall again post brief recovery

MUMBAI--1150 IST--Banking and finacial services sectoral indices fell again after having briefly risen midway through Reserve Bank of India Governor Sanjay Malhotra's policy address. The Nifty Bank had risen 0.3% and the Nifty Financial Services had risen 0.2%. The Nifty PSU Bank rose 0.6% during that time.

At 1146 IST, the Nifty Financial Services, Nifty Bank, and Nifty PSU Bank were down 0.2%, 0.1%, and 0.4%, respectively. "The only thing which has slightly taken negatively by the Street is the inflation forecast for first quarter of 2027...RBI's FY27 inflation (of 4.9%) is on higher end of the band," Sunny Agrawal, head of fundamental equity research, SBICAPS Securities, said. "Now people are doubtful that whether there will be any further rate cut or not," he added. (Akash Mandal)

Equity Alert: NSDL lists at INR 880 on BSE, 10% premium to issue price

MUMBAI--1145 IST--Shares of National Securities Depository listed at INR 880 on the BSE, a premium of 10% to its issue price of INR 800. At 1145 IST, the stock traded at INR 911.50 on the bourse, 14% higher than its issue price, with over 23 million shares of the company having changed hands so far.

NSDL's initial public offering was subscribed over 41 times, with the company receiving bids for 1.44 billion shares against 35.13 million shares on offer. The portion reserved for qualified institutional buyers was subscribed 104 times with the company receiving bids for 1.04 billion shares against 10.01 million shares on offer. The portion reserved for non-institutional investors was subscribed 35 times with bids placed for 262.68 million shares against 7.51 million shares on offer. The portion reserved for retail investors was subscribed 7.73 times with the company receiving bids for 135.48 million shares against 17.52 million shares on offer.

NSDL is India's largest depository holding securities in digital form through dematerialised accounts. For the financial year 2024-25 (Apr-Mar), the company had reported a consolidated net profit of INR 3.43 billion on a revenue of INR 14.20 billion. (P. Madhu Kumar)

Equity Alert: M&B Engineering lists at INR 385, same as issue price

MUMBAI--1124 IST--M&B Engineering listed at the issue price of INR 385, but rose as trading progressed. At 1122 IST, the stock was at INR 408.05, up 6.3% from the issue price. Nearly 11 million shares of the company have so far changed hands on the NSE.

The initial public offering, which ended Friday, was subscribed over 36 times, with the company receiving bids for 354.72 million shares against 9.80 million shares on offer. It had set the price band for the IPO at INR 366-INR 385 per share.

M&B Engineering provides pre-engineered buildings and self-supported roofing solutions. It offers customers turnkey solutions, which include project design, engineering, manufacturing, and erection as per the customer's requirements. The company had reported a consolidated net profit of INR 770.47 million in 2024-25 (Apr-Mar) on a revenue of INR 9.89 billion. (Simran Rede)

Equity Alert: Sri Lotus Developers lists at nearly 19% premium at INR 178

MUMBAI--1115 IST--Sri Lotus Developers and Realty Ltd. listed at INR 178 on the NSE, a premium of nearly 19% to its issue price of INR 150. At 1115 IST, the stock traded over 25% higher from the issue price at INR 188.05. Over 51 million shares of the company have so far changed hands on the exchange.

The company's initial public offering, which ended Friday, was subscribed over 69 times, with the company receiving bids for 2.74 billion shares against 39.66 million shares on offer. It had set the price band for the IPO at INR 140-INR 150 per share.

Sri Lotus is a developer of residential and commercial projects in Mumbai with a focus on redevelopment projects in the ultra-luxury and luxury segments in the western suburbs. For the financial year 2024-25 (Apr-Mar), the company had reported a consolidated net profit of INR 2.27 billion on a revenue of INR 5.50 billion. (Simran Rede)

Equity Alert: Trent at 3-week high ahead of likely strong Apr-Jun earnings

MUMBAI—1110 IST--Shares of Trent rose 1.8% to a near three-week high of INR 5,415, extending their winning run for the fourth session, ahead of the company's June quarter earnings. The retail giant is expected to report a robust earnings growth for the quarter. At 1108 IST, the Tata group company was 0.4% higher at INR 5,338 but was among the top gainers in the Nifty 50.

Trent is expected to report a 10.5% on-year increase in its net profit for the June quarter to INR 3.8 billion and revenue is expected to increase 23.3% to INR 49.2 billion, according to the average of estimates from seven brokerages. Higher sales volume, especially from its affordable readymade fashion garment outlet brand Zudio, is expected to boost the company's financials.

In a business update on Jul. 4, Trent had declared its revenue in Apr-Jun increased 20% on year to INR 50.61 billion. As of Jun. 30, the company's store portfolio included 248 Westside branded stores, 766 Zudio branded stores, and 29 stores across other lifestyle concepts.

At 1108 IST, 953,469 shares of the company were traded on the NSE, sharply higher than the 155,271 shares traded till the same time Tuesday. Of the 11 brokerage recommendations on the stock available with Informist, seven have a 'buy' or equivalent rating, two have a 'hold' or equivalent rating, and the remaining two have a 'sell' or equivalent rating. (Akash Mandal)

Equity Alert: Bajaj Auto flat ahead of likely sluggish Apr-Jun earnings

MUMBAI--1101 IST--Shares of Bajaj Auto fell 0.5% to a low of INR 8,192 ahead of its June quarter earnings. Like in the past few quarters, the company is likely to report sluggish earnings growth. At 1056 IST, the stock was flat at INR 8,228.50.

The Pune-based automobile major is expected to report a 2% year-on-year rise in its June quarter net profit to INR 20.3 billion, according to an average of estimates from 10 brokerages. Its top line is seen rising 3% on year to INR 123.1 billion. Muted volume growth, adverse product mix, and weakness in domestic sales are likely to impact the company's earnings.

The company's earnings before interest, tax, depreciation, and amortisation margin is likely to fall due to rise in raw material prices, an adverse product mix, currency appreciation, and increased logistics costs.

At 1057 IST, 53,251 shares of the company were traded on the NSE, slightly higher than the 45,166 shares traded till the same time Tuesday. Of the 24 brokerage recommendations on the company available with Informist, 13 have a 'buy' or equivalent rating, eight have a 'hold' or equivalent rating, and three have a 'sell' or equivalent rating. (Akash Mandal)

Equity Alert: Nifty Realty falls to over 2-mo low as RBI keeps repo rate unch

MUMBAI--1037 IST--All real estate stocks fell after the Reserve Bank of India's monetary policy committee kept the repo rate unchanged at 5.50% and retained its neutral stance with a full majority. Nifty Realty fell further and was the worst-hit sectoral index. It touched its lowest level since May 15.

RBI Governor Sanjay Malhotra said the impact of the 100-basis-point rate cut since February is still unfolding and uncertainty regarding US tariffs called for holding the repo rate unchanged. The cut in cash reserve ratio from September will further support liquidity conditions, he said.

Shares of DLF and Prestige Estates Projects were the worst-hit Nifty Realty constituents, falling around 3?ch. All constituents of Nifty Realty were in the red. The index was down 2.2% at 887.60 points. (Simran Rede)

Equity Alert: Bank, fincl svcs indices fall after RBI keeps rates unch

MUMBAI--1016 IST--Financial sectoral indices such as Nifty Bank, Nifty Financial Services, Nifty PSU Bank, and Nifty Private Bank turned negative after the Reserve Bank of India unanimously kept the repo rate unchanged at 5.50%. RBI Governor Sanjay Malhotra said that the transmission of the 100-basis-point rate cut in the last policy meeting is still taking place, and added that inflation is seen rising from the March quarter. The central bank kept the marginal standing facility and bank rates steady at 5.75% and the standing deposit facility rate at 5.25%.

The Nifty Bank and other banking and financial services indices were among the top gainers ahead of the policy outcome. At 1012 IST, the Nifty Bank was 0.1% lower at 55315.65 points and the Nifty Financial Services was also down 0.1% at 26338.55. Benchmark indices also fell slightly more after the central bank maintained status quo on rates. (Akash Mandal)

Equity Alert: Nifty Bank slightly rises ahead of RBI MPC outcome

MUMBAI--0952 IST--Nifty Bank rose nearly over 0.1% ahead of the outcome of the Reserve Bank of India monetary policy committee's meeting at 1000 IST. There are expectations that the RBI's rate-setting panel may cut the repo rate by 25 basis points to 5.25% in this meeting.

The Nifty Bank was among the sectoral indices which gained the most. Over 50% of its constituents traded higher in early trade. Kotak Mahindra Bank was the top gainer in the pack, which gained 0.6%. Only sectoral indices related to banks and financial services gained in the initial hour of trade. Nifty PSU Bank gained the most among the sectoral indices, rising 0.1%. (Simran Rede)

Equity Alert: Market opens flat on caution over RBI policy, US tariff threat

MUMBAI--0933 IST--Benchmark indices opened flat Wednesday due to caution ahead of the Reserve Bank of India's monetary policy outcome due at 1000 IST and US President Donald Trump's tariff threats. The central bank is widely expected to retain its policy stance but analysts are divided in their opinion whether the RBI would keep the interest rate unchanged or cut it by 25 basis points. In the previous monetary policy meeting, the RBI had reduced the repo rate by 50 bps to 5.50%.

At 0932 IST, the Nifty 50 was at 24642.80 points, down 6.75 points, and the BSE Sensex was at 80748.27 points, up 38.02 points or 0.1%. All broader market indices were in negative territory, down 0.4-0.6%. The fear gauge of the market, the India VIX, was up 1.3% at 11.8675.

Among sectoral indices, Nifty Pharma was the worst hit and was down 1.1%. Cipla, Sun Pharmaceutical Industries, and Dr. Reddy's Laboratories were the biggest losers in the Nifty 50, down over 1?ch. Pharmaceutical stocks were a drag on the Nifty 50 after Trump threatened "small tariffs" on pharmaceuticals imported into the US, which will be raised to 150% in a year or year-and-a-half and then to 250%. Tuesday after market hours, Trump threatened to "substantially" increase tariffs on goods entering into the US.

Shares of Adani Ports and Special Economic Zone were up 1.5?ter some brokerages said they were bullish about the company's growth. Adani Ports reported better-than-expected earnings for the June quarter Tuesday. CCL Products was down over 7% and was the worst hit in the Nifty 500. The company's Apr-Jun consolidated net profit fell short of the Street's estimates. (Simran Rede)

Equity Alert: Mkt likely to fall on US' new tariff threats; MPC outcome eyed

MUMBAI--0840 IST--New US tariff threats to India are likely to weigh on the domestic equity market which has been feeling the near-term heat of US President Donald Trump's attack, particularly on the grounds of India's crude oil purchases from Russia. Trump Tuesday said he will "substantially" hike tariffs on Indian goods in the next 24 hours. He also threatened to impose "small tariffs" on global pharmaceuticals imported to the US, which will be raised to 150% in a year or a year and a half, and then to 250%.

"Of course this (new tariffs) is going to hurt our market, but this doesn't mean that we (India) will become a laggard in terms of returns and growth," a senior research analyst at a domestic broking firm said. India is expected to continue to hold trade talks with the US and strike a deal, but that may not happen for at least the next couple of months as India is not going to accept whatever Trump wants, particularly free access to the country, the analyst said. Around 35% of India's crude oil supplies come from Russia, which is sharply higher than the 2.5?fore 2022. Of the total pharma imports of the US, India accounts for roughly 30%.

On Tuesday, the Nifty 50 ended 0.3% lower at 24649.55 points and the BSE Sensex ended 0.4% down at 80710.25 points. The key support for the 50-stock index is at 24500 points and it can fall to 24200 level if it is breached, a technical and derivatives analyst at a domestic broking firm said. The resistance is seen at 24750-24900 points in the near term, the analyst said. At 0824 IST, the GIFT Nifty August contract traded on the NSE International Exchange was up 0.3% at 24701.50 points.

All eyes are on the Reserve Bank of India's monetary policy outcome due at 1000 IST. While the central bank is expected to retain its stance, some market participants are expecting it to cut rates by 25 basis points. Some analysts believe that a rate cut could cheer the domestic market, but any cautious comments about inflation or economic growth will likely pull down the market. (Anjana Therese Antony)

Equity Alert: Nuvama ups Adani Ports price aim 5?spite near-term caution

MUMBAI--0813 IST--Brokerages were cautious on the near-term growth expectation of Adani Ports and Special Economic Zone but reiterated their bullish stance on its long-term prospects. Nuvama Institutional Equities raised its target price on the stock by 5% to INR 1,900 and reiterated a 'buy' rating. On Tuesday, the stock had ended 2.2% lower at INR 1,358.10.

"Adani Ports posted decent revenue/adjusted EBITDA/adjusted PAT growth of 21%/13%/28% in Q1FY26 (8%/10%/6?ove Street estimates)...we are trimming FY26/27 EPS by 3% to reflect 2% lower volume and higher interest cost," the brokerage said in its report, noting that coal and container volumes at Gujarat's Mundra Port were weak in the June quarter.

Prabhudas Lilladher also maintained a 'buy' rating on the stock with a target price of INR 1,777. "Domestic cargo volume growth was a tad weaker at 6% due to geopolitical issues during the quarter and lower iron ore volumes at Dhamra...with well spread-out network of 15 ports across India's coastlines and 4 international ports, ADSEZ is expected to benefit from India's increasing global trade," the brokerage said in its report.

Improving contributions from its marine and logistics operations give the company long-term growth visiblity, the brokerage said. "With strong EBITDA margins, consistent free cash flows, manageable leverage (Net Debt/EBITDA at 1.8x), and digitization, APSEZ is well positioned to benefit from India's GDP growth," it said.

In the June quarter, the ports operator reported a consolidated net profit of INR 33.15 billion in the June quarter, up 6% on year and higher than analysts' estimate of INR 29.66 billion. Its top line for the quarter grew 31% on year to INR 91.26 billion. (Akash Mandal)

Equity Alert: Most Asian indices up; Australia's S&P/ASX 200 hits record high

MUMBAI--0745 IST--Most Asian indices were up in early trade Wednesday. Australia's S&P/ASX 200 was up 0.5%, rising to an all-time high. Investors assessed fresh tariff threat by US President Donald Trump on semiconductors and chips. "We're going to be announcing [tariffs] on semiconductors and chips, which is a separate category, because we want them made in the United States," Trump was quoted as saying by CNBC. He said the tariffs will be announced within the next week.

Japan's Nikkei 225 and Topix were up 0.4% and 1.1%, respectively. Toyota Motor and property developer Mitsui Fudosan were up 2% and 5%, respectively. While Japanese equities are currently on a broader uptrend with investors consistently buying at lower levels, stable trade policies and agreements are needed to push the indices to fresh highs, a news report by Barron's said. "Japan exports just over $700 billion of goods yearly to many countries, according to FactSet, representing about 17% of total 2024 gross domestic product of almost $4.2 trillion...slower global demand would directly hurt Japan, which relies on exports to many nations to grow its economy," the report said.

The Australian market notched a fresh high with index heavyweights such as Commonwealth Bank and Westpac Banking Corp. up nearly 1?ch. South Korea's Kospi was down 0.3%. SK Square, HD Hyundai Electric, and Hanwha Systems were down 2-3%.

Following are the levels of key Asian indices at 0745 IST:

(Akash Mandal)

Equity Alert: US indices end lower as weak economic data weighs on sentiment

MUMBAI--0723 IST--US indices ended lower Tuesday as weaker-than-expected economic data weighed on sentiment. Investors were cautious as they assessed US tariff-related news and policies. All three major indices ended the session lower, with the Nasdaq Composite seeing the biggest fall.

The country's non-manufacturing purchasing managers' index unexpectedly fell to 50.1 in July from 50.8 in June. Economists polled by Reuters had forecast the services PMI would rise to 51.5. A PMI reading above 50 indicates growth in the services sector. Input costs surged the most in nearly three years while orders were broadly unchanged, indicating that the US services sector may be facing jitters from the massive reciprocal tariffs.

Investors digested comments about tariffs from several companies, including Caterpillar, which warned of an up to $1.5 billion hit in 2025, Reuters reported. Palantir rose 8% as the defence technology company said its revenue in the reporting quarter surpassed $1 billion for the first time. On other hand, Eaton dipped 7% due to disappointing guidance, CNBC reported.

"Today we're seeing the market pull back a little bit, (but) equities have been on a nice run...we're probably due for a period of consolidation, some backing and filling, so to speak," CNBC reported Terry Sandven, chief equity strategist at US Bank Asset Management, as saying.

Following are the closing levels of US indices Tuesday:

(Akash Mandal)

US$1 = INR 87.67

End

Edited by Akul Nishant Akhoury

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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