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Equity Alert: SJVN up 3% ahead of Q1 earnings; PAT, sales seen rising YoY

MUMBAI--1055 IST--Shares of power producer SJVN rose 3% to an intraday high of INR 94.80 ahead of its June quarter earnings. The public sector company is expected to post significant growth in net profit and revenue for the June quarter due to higher hydro electricity generation owing to the early onset of the monsoon, according to JM Financial Securities. At 1051 IST, the stock traded 2.4% higher at INR 94.28.

JM Financial Securities estimates the company to post a standalone net profit of INR 3.85 billion for the June quarter, up 18% on year and up twelvefold on quarter. It is expected to post net sales of INR 9.38 billion for the latest quarter, up 13% on year and up 110% over the trailing quarter, the brokerage said. "Expected increase in revenue due to generation up by 5% YoY (on year)," it added.

Of the two brokerage reports available on the company with Informist, one has a "buy" rating and one has a "sell" rating. Shares of the company have fallen over 3% since the company announced its March quarter earnings. (Adhithya Aji)

Equity Alert: Tata Motors up 3% post Q1 result; valuations seen attractive

MUMBAI--1020 IST--Shares of Tata Motors rose 2.7% to a high of INR 650.75 after the automaker beat the Street's estimates for June quarter bottom line and top line. Its top line beat analysts' estimates by a wide margin. At 1015 IST, the stock traded 2.6% higher at INR 649.85 and was the top gainer in the Nifty 50.

While analysts raised concerns about the underperformance of Jaguar Landrover, sluggish demand, low volumes, and US tariff challenges, some said the stock, which has been beaten down over some time, is currently trading at attractive valuations. "With all businesses witnessing headwinds, dark clouds of uncertainty and low growth will weigh on company's performance going forward...the valuations, however, have hit rock bottom with current price offering good entry point for long term wealth creation," ICICI Direct Research said in its report. The stock has fallen over 12% so far since the start of 2025.

Nomura Global Markets Research expects margins for the JLR business to expand as the company passes on US tariff-related costs to customers. "We lower JLR volume estimates by 2-3 % but factor in better mix also...we do expect a rebound of margins by FY27 as JLR raises prices to offset tariffs," the brokerage said. Emkay Global Financial Services sees Tata Motor's balance sheet well positioned to withstand near-term challenges.

At 1015 IST, 6.22 million shares of the company were traded on the NSE, sharply higher than the 2.71 million shares traded till the same time Friday. (Akash Mandal)

Equity Alert: HBL Engg up 13% to near-8-month high; Q1 PAT, sales soar YoY

MUMBAI--0955 IST--Shares of HBL Engineering rose 13% to a high of INR 678, the highest level since Dec. 20, after its top line and bottom line both soared on year in the June quarter. At 0952 IST, the stock was up nearly 12% at INR 671 and was the top gainer in the Nifty 500.

The engineering company's consolidated net profit soared 79% on year to INR 1.43 billion. Its consolidated revenue also rose 16% on year to INR 6.02 billion. With sales from its biggest segment, industrial batteries, was broadly stable on year, growth was driven by sales from its electronics segment more than doubling on year to INR 18.04 billion.

At 0952 IST, 9.23 million shares of the company were traded on the NSE, sharply higher than the 219,221 shares traded till the same time Friday. (Akash Mandal)

Equity Alert: Indices choppy despite rise in global mkts; India VIX up 5%

MUMBAI--0950 IST--Benchmark indices were choppy Monday despite sharp gains in global markets. The imposition of US tariffs continues to weigh on the domestic market. At 0947 IST, the Nifty 50 was at 24369 points, up 5.70 points. The BSE Sensex was at 79893.63 points, up 35.84 points.

The broader market indices were also choppy. The fear gauge of the market, India VIX, rose 5.4% to 12.6775. The India VIX is up for the second session. Sectoral indices were mixed. Nifty PSU Bank was the top gainer, up over 1.5%. Nifty Consumer Durables was the worst hit, down 1.8%.

Among stocks, Grasim Industries was up over 2%. It was the top Nifty 50 gainer as the company's net loss for the June quarter was lower than expected by the Street. State Bank of India was up 2% and was the second-biggest gainer in the index after some brokerages retained their 'buy' rating on the stock following the bank's quarterly result.

Voltas was down 6% and was the worst hit in the Nifty 200 after its Apr-Jun consolidated net profit came in lower than expected. HBL Engineering was up over 12% and was the top Nifty 500 gainer after the company's consolidated net profit for the June quarter rose 79% on year. PG Electroplast hit the lower circuit. The stock was down 15% at INR 500.50 and was the worst hit in the Nifty 500. Schneider Electric hit the 5% lower circuit at INR 888. The stock was among the worst performing Nifty 500 constituents. (Simran Rede)

Equity Alert: Grasim up 3% as Q1 loss below Street's view; analysts bullish

MUMBAI--0928 IST--Shares of Grasim Industries surged over 3% to a high of INR 2,782 after the conglomerate's net loss for the June quarter came in below the Street's expectations and brokerages were positive on the company's outlook. At 0926 IST, the stock traded 2.1% higher at INR 2,748.20 and was the top gainer on the Nifty 50.

"While performance of the chemical segment and CSF (cellulosic staple fibre) division improved, losses in new segments (B2B and paints) hurt the overall performance," Nuvama Institutional Equities said on the company's June quarter earnings. The brokerage raised its target price for the stock to INR 2,971 from INR 2,698 and maintained a 'hold' rating. "We are raising FY26 EBITDA by ~20% given the Q1FY26 beat...we feel Grasim is a value play given the global VSF (viscose staple fibre) cycle is at a near-bottom and (due to) potential long-term value for the paint segment," the brokerage said.

Motilal Oswal Financial Services raised its target price on Grasim to INR 3,500 from INR 3,300 whilst maintaining its 'buy' rating. The brokerage was bullish on the Aditya Birla group company's paints business, saying the segment is gaining strong traction with revenue run rate on track for INR 85 billion by 2026-27 (Apr-Mar). The brokerage said the company's premium paints segment showed solid momentum and margins of the chemicals business improved due to stable demand.

At 0926 IST, 184,876 shares of the company were traded on the NSE, sharply higher than the 7,884 shares traded till the same time Friday. (Akash Mandal)

Equity Alert: Emkay Global retains 'buy' on Tata Motors, target price INR 750

MUMBAI--0912 IST--Emkay Global Financial Services retained its 'buy' rating on Tata Motors stock with a target price of INR 750 after the company posted higher-than-expected earnings for the June quarter. This target price is 18% higher than the stock's Friday closing price of INR 633.70 on the National Stock Exchange. The broking firm assigns a 'buy' rating for a stock with more than 15% upside potential for the next 12-18 months.

Even though Tata Motors reported an on-year decline in its key earnings metrics, its top line and bottom line beat the Street's expectations. The company Friday reported a near 31% on-year decline in its consolidated net profit to INR 39.24 billion for the June quarter, but was higher than the Street's estimate of INR 33.31 billion. Its revenue fell nearly 3% to INR 1.04 trillion, sharply higher than the consensus view of INR 895.10 billion.

Over the last five years, Tata Motors' Jaguar Land Rover division has significantly strengthened its business profile led by largely resilient volumes and high profitability, Emkay Global said in its report. It also sees the balance sheet well positioned to withstand near-term challenges. JLR has undertaken enterprise missions which will save 1.4 billion sterling pounds per annum (around INR 165 billion), it added. Revenue from JLR during the latest quarter was down 9% on year at 6.60 billion pound sterling, while the earnings before interest and tax margin from this division, hit by the US imposition of tariffs, declined 490 basis points to 4%. Tata Motors' JLR business accounts for around 70% of its overall top line.

Of the 17 research reports available about Tata Motors with Informist, nine have a 'buy' or equivalent rating on the stock with an average target price of INR 837, four have a 'hold' view, and the remaining four have a 'sell' or equivalent rating. (Anjana Therese Antony)

Equity Alert: Nuvama downgrades Voltas to reduce on regulatory woes, weak Q1

MUMBAI--0824 IST--Nuvama Institutional Equities has downgraded Voltas to 'reduce' from 'buy' and cut its target price to INR 1,020 from INR 1,240 due to regulatory issues and weak season in the near-term. The brokerage has maintained a cautious stance on the entire sector due to these challenges. On Friday, the stock ended 0.3% lower at INR 1,304.90.

"Given a weak season and the upcoming BEE (Bureau of Energy Efficiency) change (from Jan. 1), the near term looks painful for brands--prompting liquidation of record channel/brand inventories," the brokerage said in its report. "We are cutting estimates up to 19% to reflect the miss/outlook," it added.

Broking firm Prabhudas Lilladher has also reduced its target price for Voltas to INR 1,268 from INR 1,350, whilst maintaining a 'hold' rating. "We downward revise our FY26/FY27 earnings estimate by 18.5%/6.2?ctoring in correction in aggregate volume in UCP (unitary cooling products) while margins are expected to be at 5% due to promotional offers aimed at liquidating inventory, high fixed costs from low plant utilization, and increases in cost due to BEE norms," the brokerage said in its report. "Anticipating strong demand, Voltas's trade partners had built up inventory; however, softer secondary sales led to slower off-take and elevated stock levels, prompting the company to temporarily scale back production," it added.

The air conditioner-maker Friday reported a consolidated net profit of INR 1.40 billion for the June quarter, more than halving from a year ago and sharply below the estimates of INR 2.38 billion. The top line declined over 20% on year to INR 39.12 billion. (Akash Mandal)

Equity Alert: Near-term outlook about mkt bearish but sharp losses unlikely

MUMBAI--0836 IST--The domestic stock market is likely to continue to see some selling pressure in the near term, with investors adopting a 'sell-on-rise' strategy amid concerns over risks from US tariffs. However, analysts believe the stock market will recover all the losses made due to US tariffs in the next couple of months and will likely reclaim the record high in the near-to-medium term as the focus is expected to shift to the long-term growth prospects of India. The upcoming meeting between US President Donald Trump and Russian President Vladimir Putin Friday to discuss ending Russia's war with Ukraine will be closely watched. This gains prominence amid Trump increasingly putting pressure on countries, including India, over importing Russian crude oil.

"...any breakthrough in the Ukraine conflict could revive hopes for removing the penalty component. Domestically, expectations are building for policy measures to cushion the tariff impact and support Indian industry," Hariprasad K., founder of Livelong Wealth, said in a note Monday. Last week, Trump had announced an additional 25% tariff on India, on top of the 25% announced last month, for its Russian crude oil purchases, which accounts for 35% of India's consumption.

Benchmark equity indices closed lower for the sixth consecutive week, falling around 5% during this period. On Friday, the Nifty 50 and Sensex closed 1% lower each at 24363.30 points and 79857.79 points, respectively. The fall was broad based, with all sectoral indices and broader market indices closing lower. The GIFT Nifty August futures contract traded on the NSE International Exchange was 0.1% higher at 24432 points, which is 0.3% higher than the Nifty 50's closing level Friday. The near-term nervousness in the market was also indicated by India VIX, which closed higher for the second consecutive week. The volatility gauge closed almost 3% higher Friday at 12.0325.

Foreign investors turned net buyers Friday after 13 straight sessions of being net sellers. They net purchased shares worth more than INR 19 billion while domestic institutional investors remained net buyers for the 24th consecutive session, buying equities over INR 77 billion. Amid the near-term worries, the fall in crude oil prices has been a positive trigger for investors. Brent crude oil October futures contract was down 0.6% at $66.18 per barrel on Friday. (Anjana Therese Antony)

Equity Alert: Most Asian indices rise in early trade; Japanese market closed

MUMBAI--0804 IST--Most Asian indices rose in early trade Monday as upbeat corporate earnings underpinned high valuations in the technology sector, which provided comfort to investors, Reuters reported. Investors eye geopolitical events with the US' tariff deadline on China due to expire Tuesday, with expectations that it will get extended again. The Japanese market was closed on the occassion of Mountain Day holiday.

South Korea's Kospi was flat early in the session. Samsung SDI, POSCO Future M, and Ecopro BM were up 4-5% and were the biggest gainers in the Korean market. China's CSI 300 gained 0.2%, with Shanxi Xinghuacun, Wanhua Chemical Group, and Cambricon Technologies rising 1-2%.

Australia's S&P/ASX 200 was up 0.4%, while the FTSE Singapore Strait Times was flat.

Following are the levels of key Asian indices at 0800 IST:

(Akash Mandal)

Equity Alert: US mkt closes higher; Apple up over 4%, Nasdaq at record high

MUMBAI--0737 IST--US indices ended higher Friday, with the Nasdaq Composite notching a fresh record high. Apple surged over 4%, ending the week 13% higher, after US President Donald Trump had said the technology major would invest an additional $100 billion in the US, bringing its total commitment to $600 billion over the next four years. Weak economic data have buoyed investors as hopes of a rate cut in September have intensified. Expectations for a 25-basis-point rate cut in September was 89.4%, according to the CME's FedWatch Tool, up from 80.3% a week ago.

Investors will also keenly look at who succeeds US Federal Reserve Chair Jerome Powell, whose term ends May next year, with Trump publically disgruntled by Powell's unwillingness to cut rates. Trump late Thursday nominated Council of Economic Advisers Chair Stephen Miran for a short-term tenure at the board of the Fed Reserve following Adriana Kugler's abrupt exit last week, Reuters reported. Miran has often been labelled as a Trump sympathiser, with some factions also earmarking him to eventually replace Powell.

Pharmaceutical major Gilead Sciences rose 8?ter it raised its full-year financial outlook. While the Nasdaq closed at a record high, the S&P 500 ended just 32 points away from an all-time high. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite gained 2.4%, 1.3%, and 3.9% for the week.

Following are the closing levels of US indices Friday:

(Akash Mandal)

US$1 = INR 87.58

End

Edited by Deepshikha Bhardwaj

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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