Informist, Tuesday, Aug. 26, 2025 Tel +91 (22) 6985-4000

Equity Alert: Colgate off highs; report says GST on toothpaste to stay 18%

MUMBAI--1345 IST--Shares of Colgate-Palmolive (India) came off highs to trade around 0.3% higher after a CNBC TV18 report, citing government sources, said the goods and services tax rate on toothpaste is likely to remain unchanged at 18%. Shares of the company were trading around 1.3% higher before the report came out. Later, the news channel reported, citing sources, that GST on toothpaste may be reduced to 5% or may remain unchanged at 18%.

At 1335 IST, shares of the company traded 0.6% higher at INR 2,297.10 on the National Stock Exchange. Till this time, 640,441 shares of the company changed hands on the NSE, compared with 299,582 shares traded till the same time Monday.

This comes amid the government's proposal to overhaul the GST system by rationalisation of the number of rate slabs from four to two. Prime Minister Narendra Modi on Independence Day announced the government's "Diwali Gift" in the form of lower goods and services taxes. The GST Council will hold its 56th meeting on Sept. 3-4 in Delhi.

Of the 21 brokerage reports available on the company, nine brokerages have a 'buy' or equivalent rating on the stock with an average target price of INR 2,920. Of the remaining 12, seven have a 'hold' or equivalent rating and five have a 'sell' or equivalent rating on the stock. (Arya S. Biju)

Equity Alert: Sun Pharma down 3%; BofA Sec cuts rtg on earnings slowdown risk

MUMBAI--1244 IST--Sun Pharmaceutical Industries fell nearly 3% to an intraday low of INR 1,610 after BofA Securities downgraded the stock to 'underperfom' from 'neutral' and slashed the target price to INR 1,570 from INR 1,730, a downside of 5% from Monday's closing price of INR 1,656.70. At 1239 IST, the stock traded at INR 1,611.60, down 2.7% from its previous close. It was among the worst hit in the Nifty 50.

According to a report by CNBc-TV18, BofA Securities has downgraded the stock due to a potential risk of earnings slowdown and high valuation. While the company's earnings have decent medium-term visibility due to its specialty portfolio, the brokerage sees only a gradual ramp-up from its new launches compared to the high consensus estimates.

The company could pursue more mergers and acquisitions within the specialty space, but the option is already priced in with a potential disappointment in a scale-up of its recently acquired and launched specialty assets, the report said.

Moreover, negative newsflow related to the most-favoured-nation tag continues to be an overhang on Ilumya, Sun Pharma's largest specialty drug. Nearly 75% of the drug's sales come from medicare part B drugs, and any impact on pricing due to inclusion among most favoured nations is a key risk, the brokerage said. A 10% price reduction will impact the company's earnings per share by 4%, it added.

At 1239 IST, 2.22 million shares of the company were traded on NSE, sharply higher than the 866,169 shares traded till the same time Monday. (Akash Mandal)

Equity Alert: Gem Aromatics rises over 7?ter listing at 2.5% premium

MUMBAI--1137 IST--Shares of Gem Aromatics listed at INR 333.10 on the National Stock Exchange, a premium of 2.5% to the issue price of INR 325. At 1115 IST, the stock traded at INR 341.75, up over 5% from the issue price and up over 2.6% from the listing price. The stock rose 7.6% to an intraday high of INR 349.60.

The initial public offering of the company was subscribed over 30 times as of the final day of the offer, with the company receiving bids for 296.11 million shares against 9.78 million shares on offer. Over 6.2 million shares of the company have changed hands on the NSE so far.

Gem Aromatics manufactures speciality ingredients such as essential oils, aroma chemicals, and value-added derivatives, which are used in oral care, cosmetics, nutraceuticals, pharmaceuticals, wellness and pain management, and personal care. The company reported a consolidated net profit of INR 533.84 million for 2024-25 (Apr-Mar) on revenue of INR 5.04 billion. (P. Madhu Kumar)

Equity Alert: Vikram Solar up 13%; lists at nearly 2% premium to IPO price

MUMBAI--1135 IST--Shares of Vikram Solar rose as much as 13?ter listing at nearly 2% premium to its issue price of INR 332. The stock listed at INR 338. At 1133 IST, shares of the company traded at INR 372.45, up over 12% from its issue price.

Over 44.05 million shares of the company have changed hands so far on NSE. The initial public offering of Vikram Solar was subscribed around 55 times, with the company receiving bids for 2.48 billion shares against 45.36 million shares on offer.

Vikram Solar is a solar photovoltaic modules manufacturer with an installed manufacturing capacity of 4.50 gigawatts, as per the company's red herring prospectus. For the financial year 2024-25 (Apr-Mar), the company reported a consolidated net profit of INR 1.40 billion on a revenue of INR 34.23 billion. (Simran Rede)

Equity Alert: Patel Retail soars 20?ter listing at almost 18% premium

MUMBAI--1116 IST--Shares of Patel Retail rose nearly 20% to an intraday high of INR 305 after listing at nearly 18% premium to the issue price of INR 255. The stock listed at INR 300 on the NSE. At 1115 IST, shares of the company traded at INR 293.55 on the National Stock Exchange, up over 15% from its issue price.

Over 3 million shares of the company have changed hands so far on the NSE. The initial public offering of the company was subscribed a whopping 96 times, with the company receiving bids for 747.99 million shares, against the 7.82 million shares on offer.

Patel Retail operates a supermarket chain in tier-III cities and nearby suburban areas with a focus on "value retail", offering food, non-food, general merchandise, and apparel. The company had reported a net profit of INR 252.78 million for 2024-25 (Apr-Mar) on revenue of INR 8.21 billion. (Simran Rede)

Equity Alert: Shreeji Shipping rises 9?ter listing at 7% premium

MUMBAI--1049 IST--Shreeji Shipping Global rose 9?ter listing at INR 270, a premium of 7% to the issue price of INR 252 per share. At 1047 IST, the stock traded at INR 261.65, up 3.8% to its issue price.

Investors sold the stock after it listed due to which it came off its high. It has been steady thereafter. Over 5 million shares of the company have changed hands so far on NSE. Shreeji Shipping's initial public offering was subscribed 58 times, with the company getting bids for 662.80 million shares against 11.41 million shares on offer. The issue closed on Thursday.

Shreeji Shipping provides shipping and logistics solutions for dry bulk cargo at various ports and jetties in India and Sri Lanka. For the financial year 2024-25 (Apr-Mar), it had reported a consolidated net profit of INR 1.41 billion on revenue of INR 6.08 billion. (Simran Rede)

Equity Alert: Vodafone Idea plunges on reports of no relief from govt on dues

MUMBAI--1045 IST--Shares of Vodafone Idea fell nearly 11% to an intraday low at INR 6.60 Tuesday after media reports that the government had no plans to provide any further relief for the telecom operator. The stock plunged after it gained around 20% over the last six sessions. At 1027 IST, over 672 million shares of the company changed hands as compared to 273 million shares traded till the same time Monday and the stock was down around 10% at INR 6.60.

"Vodafone is up to their management, they are all business people, they know how to manage, it's up to them how they want to take it forward," CNBC TV-18 quoted Minister of State for Communications Chandra S. Pemmasani as saying. This comes after media reports on Friday suggested that the Prime Minister's Office was likely to take a call on a relief proposal for the company. Vodafone Idea owes about INR 834 billion in adjusted gross revenue dues to the government, with annual payments of INR 180 billion, beginning March 2026.

Out of the seven brokerage reports available on the company, four brokerages have a 'hold' rating on the stock with an average target price of INR 8. Two brokerages have a 'sell' rating and the remaining one has a 'buy' rating on the stock. (P. Madhu Kumar)

Equity Alert: BLS Intl up 7% on getting INR 20.55-bln order from govt body

MUMBAI--1042 IST--Shares of BLS International Services rose nearly 7% to an intraday high of INR 392.85 after the company got a large order from a government body. At 1039 IST, the stock had come off highs but still traded 2.1% higher at INR 376.70.

The company got an order of INR 20.55 billion from Unique Identification Authority of India for providing services for the establishment and running of district-level Aadhaar Seva Kendras. The company will to set up Aadhaar Seva Kendras across the country to provide appointment and walk-in-based Aadhaar enrolment, updates, as well as other miscellaneous services.

Notably, the order size was nearly three times its June quarter top line of INR 7.11 billion. At 1039 IST, 9.28 million shares of the company were traded on the NSE, sharply higher than the 264,619 shares traded till the same time Monday. (Akash Mandal)

Equity Alert: Ola Electric rises 5?ter getting PLI nod for Gen 3 scooters

MUMBAI--1024 IST--Shares of Ola Electric Mobility rose over 5% to a high of INR 51.15 after the company recieved a certification from the government for production-linked incentives for its Gen 3 scooter portfolio. At 1022 IST, the stock was up 3.5% at INR 50.28 and was the top gainer in the Nifty 500.

The certification, which was granted by the Automotive Research Association of India under the Ministry of Heavy Industries, will make the EV-maker eligible for incentives ranging from 13-18% of the determined sales value until 2028. The certification will significantly enhance Ola Electric's profitability from the September quarter, the company said in an exchange filing.

During its June quarter earnings, the company had said it expects to get the production linked incentive, which would boost its exit gross margin for 2025-26 (Apr-Mar) at 35-40%. The company's Gen 3 portfolio currently includes seven scooters. As of 1022 IST, 174 million shares of the company were traded on the NSE, sharply higher than the 125.40 million shares traded till the same time Monday. (Akash Mandal)

Equity Alert: Indices fall more post slow start; most sectors decline

MUMBAI--0929 IST--Benchmark indices fell more after starting the session on a negative footing, tracking other global bourses. Investors were cautious ahead of the additional 25% US tariff that comes into effect Wednesday. Heavyweights such as ICICI Bank, Bharti Airtel, and HDFC Bank were in the red.

At 0928 IST, the Nifty 50 was at 24799.65 points, down 168.10 points or 0.7%, and the BSE Sensex was at 81084.39 points, down 551.51 points or 0.7%. Sun Pharmaceutical Industries, Adani Enterprises, Dr. Reddy's Laboratories, and ICICI Bank were down 1-2% and were the worst hit in the Nifty 50.

Most sectoral indices were down, with those pertaining to the pharmaceutical and healthcare sectors being the worst hit. Zydus Lifesciences, Lupin, and Ipca Laboratories were down 1-2%. The Nifty FMCG was the only sectoral index in the green, backed by a 2% rise in Britannia Industries, and sector heavyweights such as Hindustan Unilever and Nestle India also gaining. The FMCG sector is largely domestic-focussed and is expected to remain relatively unaffected by US tariffs. All broader market indices were down around 1?ch.

Among other stocks, BLS International Services was up nearly 2?ter it got an INR 20.55-billion order from a government body. On the other hand, Vodafone Idea was down over 6% and was the worst hit in the Nifty 500. (Akash Mandal)

Equity Alert: Most Asian indices down; Nikkei, Topix, Kospi fall 1?ch

MUMBAI--0830 IST--Most Asian equity indices were down in early trade on Tuesday, with those in Japan falling the most. Sentiment was hit after US President Donald Trump threatened countries with digital taxes with "subsequent additional tariffs" on their goods if they do not remove such taxes. The South Korean president and Trump had met Monday to discuss details of the trade deal that was discussed in July.

At 0828 IST, Japan's Nikkei 225 was at 42354.53 points, down 1.1%. The Topix also traded nearly 1% lower at 3075.02 points. The fall was mainly due to electronics and pharmaceutical stocks.

Investors in South Korea also made bearish bets, dragging the benchmrk Kospi down 1% in early trade. The weakness followed Trump and his South Korean counterpart holding discussions on Monday to flesh out a deal framework with 15% tariffs.

"We spent a lot of money building a fort, and there was a contribution made by South Korea, but I would like to see if we could get rid of the lease and get ownership of the land where we have a massive military base," Trump was quoted as saying by The Guardian.

Meanwhile, China's CSI 300 was down 0.4% and Hong Kong's Hang Seng was slightly lower. The FTSE Singapore Straits Times and Australia's S&P ASX 200 were down 0.3?ch.

Following were the levels of key Asian indices at 0828 IST:

(Gopika Balasubramanium)

Equity Alert: Mkt set for slow start on caution before additional US tariff

MUMBAI--0806 IST--Benchmark equity indices are likely to start the session lower Tuesday, tracking most other global bourses. However, a recovery could be seen later in the session, with the Nifty 50 possibly testing the 25000 levels again. The 50-stock index is likely to move in a range of 24750–25000 points.

The derivatives contracts of the Nifty 50 also indicated a negative start for the market. At 0800 IST, the GIFT Nifty's August contract was at 24920 points, down nearly 50 points from the Nifty 50's latest close. The September contract was at 25043 points, down 11.50 points from its previous close. Sentiment in the market will be cautious ahead of the US' additional 25% tariff, which will come into effect 0930 IST Wednesday.

On Monday, the Nifty 50 closed at 24967.75 points, up 97.65 points or 0.4%, and the BSE Sensex ended at 81635.91 points, up 329.06 points or 0.4%. The Nifty 50 tested the 25000 levels briefly but could not sustain above the psychologically crucial barrier.

Overnight, indices in the US declined after strong gains Friday. "On Friday there was a lot of enthusiasm about Powell basically indicating that there would likely be a rate cut. The market may have overreacted to his comments," Reuters reported Peter Cardillo, chief market economist at Spartan Capital Securities, as saying. All Asian indices, barring Indonesia's IDX Composite, were lower in early trade Tuesday. (Akash Mandal)

Equity Alert: US indices end lower as Fed Chair Powell-led enthusiasm wanes

MUMBAI--0733 IST--US equity indices closed lower Monday after Friday's jumbo gains on the back of US Federal Reserve Chair Jerome Powell's dovish comments at the Jackson Hole Symposium. Investors will now wait for US inflation and non-farm payrolls data which is likely to give an idea of whether there is room for the hinted rate cut at the Fed's September meeting or not. Meanwhile, US chip-maker Nvidia is scheduled to detail its Apr-Jun results Wednesday.

"The market has a Jackson Hole hangover," Jake Dollarhide, chief executive officer of Oklahoma-based Longbow Asset Management, was quoted as saying by Reuters. "Investors are taking a little bit of a breather."

On Monday, the Dow Jones Industrial Average ended 0.8% lower at 45282.47 points. The Nasdaq fell 0.2% to 21449.29 points and the S&P 500 was down 0.4% at 6439.32 points. Nvidia closed 1% higher ahead of its quarterly report, during which investors will closely watch any comments from the company on the outlook of artificial intelligence-related demand.

"The focus right now is the labour market," Reuters quoted Brian Klimke, investment director at Cetera Investment Management, as saying. "We have the job market that's rolling over a little bit and the economy is weakening, so the Fed needs to act sooner than later and they're seeing it too." The Personal Consumption Expenditures Price Index, the US Fed's preferred inflation gauge, is due Friday, while non-farm payrolls data is expected next week.

Following are the closing levels of US indices Monday:

(Gopika Balasubramanium)

US$1 = INR 87.72

End

Edited by Tanima Banerjee

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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