Published on: August 4, 2025
JSW Cement is set to launch its Initial Public Offering (IPO) on August 7, with the bidding window open until August 11. The company has fixed the price band at ₹139–₹147 per equity share, with a face value of ₹10 per share. The IPO aims to raise ₹3,600 crore, comprising a fresh issue of ₹1,600 crore and an offer for sale worth ₹2,000 crore. JM Financial is the book-running lead manager, and Kfin Technologies is the registrar.
At the upper price band, JSW Cement’s post-issue market capitalisation is estimated at ₹20,041 crore. Retail investors can bid for a minimum lot size of 102 shares, amounting to a minimum investment of ₹14,994. The allotment is expected to be finalized by August 12, with shares likely to be listed on the BSE and NSE on August 14.
Of the total issue, 50% is reserved for Qualified Institutional Buyers (QIBs), 15% for High Net Worth Individuals (HNIs), and the remaining for retail investors. Post-IPO, promoter shareholding will fall from 78.61% to 72.33%. Key selling shareholders include State Bank of India, Synergy Metals Investments Holding, and AP Asia Opportunistic Holdings Pte. Ltd.
Proceeds from the IPO will be used to fund a new cement plant in Nagaur, Rajasthan (₹800 crore), and to repay existing debt (₹520 crore). Despite reporting a net loss of ₹163.8 crore in FY25, JSW Cement has shown profitability in the preceding two years. The company operates seven cement plants across India, producing green cement, with key facilities in Andhra Pradesh, Karnataka, Tamil Nadu, Maharashtra, West Bengal, and Odisha.
Published on: August 4, 2025
Indian equity markets closed higher on Monday, snapping a two-session losing streak, aided by strong buying in metal, auto, and IT sectors. The NSE Nifty 50 surged 157 points or 0.64% to close at 24,722, while the BSE Sensex climbed 418 points or 0.52% to end at 81,018. The Nifty Bank, however, ended flat at 55,619.
Tata Steel emerged as a standout performer, rallying over 5%, followed by gains in Adani Ports, Bharat Electronics, and JSW Steel. Hero MotoCorp also contributed significantly to the day’s uptrend. On the flip side, selling pressure in Power Grid, HDFC Bank, ONGC, Apollo Hospitals, and ICICI Bank capped further gains.
Sectorally, 10 out of 12 indices closed in the green. Nifty Defence, Metal, Realty, Auto, and IT led the charge, while FMCG and Financials lagged. The broader market showed strong participation, with the BSE Midcap and Smallcap indices gaining 0.76% and 0.72%, respectively.
Overall market breadth remained positive, with 2,288 stocks advancing versus 1,847 declining, and 172 remaining unchanged on the BSE, signaling improved investor sentiment and selective buying across segments.
Published on: August 4, 2025
Indian equity markets opened Monday’s session on a cautious note, despite a green signal from the GIFT Nifty. The NSE Nifty 50 opened 35 points higher at 24,600, while the BSE Sensex edged up 69 points to 80,669. The Bank Nifty saw a modest rise of 100 points to 55,716. However, broader market sentiment remained subdued as midcap and smallcap indices also started weak, with the Nifty Midcap falling 17 points to 56,620.
Technical indicators pointed to continued selling pressure, with the market forming a bearish pattern on weekly charts and trading below key moving averages. Analysts warn of further downside if Nifty breaks below the 24,500 level, potentially testing support around 24,200. On the upside, a move above 24,650 could revive sentiment.
Adding to the caution are concerns around India’s trade deal delays with the US, mixed Q1 earnings, and sustained FII outflows. Meanwhile, weaker-than-expected US jobs data has sparked hopes of a rate cut in the upcoming Fed meeting, impacting global sentiment.
Among early movers, Bharat Electronics, Grasim Industries, and Tata Steel led the gainers, while Infosys, Tech Mahindra, and HCL Tech dragged the index. Heavyweights like Reliance Industries and HDFC Bank also traded under pressure in morning trade.
Published on: August 1, 2025
Tata Power Company reported a 9% year-on-year rise in consolidated net profit for the June quarter at ₹1,059.86 crore, in line with analysts' expectations. Revenue increased 4.3% to ₹18,035.07 crore, while EBITDA jumped 15% to ₹4,139.01 crore with margins improving to 22.9%. The company’s rooftop solar segment saw exceptional growth, with revenue doubling to ₹823 crore and over 45,500 installations completed.
Additionally, the T&D business posted a 26% rise in profit at ₹440 crore. CEO Praveer Sinha highlighted strong performance across the Generation and T&D verticals. Despite the robust results, shares closed 2.12% lower at ₹389.30 on the NSE.
Over the last year, Tata Power’s stock has declined 16.17%, with Bloomberg data showing a mixed analyst sentiment and an average 12-month target price of ₹439.71, suggesting a potential upside of nearly 13%.
Published on: August 1, 2025
Coal India Ltd. (CIL), the state-owned coal giant, reported a 15.6% year-on-year drop in coal production for July 2025, with total output at 46.4 million tonnes, down from 55 million tonnes a year earlier. The decline was observed across all eight subsidiaries, ranging from 4.4% to as high as 38.2%. For the April–July period, cumulative production stood at 229.8 MT, down 6% YoY.
Meanwhile, coal offtake in July—representing fuel supplied from pitheads—fell 11.3% to 53.7 MT, while April–July offtake dropped 5.7% to 244.5 MT.
The production shortfall comes despite government efforts to ramp up domestic output and reduce import dependence. Coal India, which contributes over 80% of the country’s coal production, aims to produce 875 MT and achieve an offtake of 900 MT in FY26, following a shortfall against its FY25 target.
Q1 FY26 Financial Highlights:
• Net Profit: ₹8,734 crore, down 20% YoY
• Revenue from Operations: ₹35,842 crore, down 4.4% YoY
Dividend Update:
The board of Coal India declared a first interim dividend of ₹5.50 per equity share for FY26, with the record date set as August 6, 2025.
Despite headwinds in production and financial performance, the dividend payout signals a continued focus on shareholder returns. However, the lack of an official explanation for declining output and offtake has left analysts watching for further updates from the company.
Published on: August 1, 2025
Adani Power Ltd.’s board on Friday approved a stock split in a 1:5 ratio, according to a regulatory filing. Each fully paid-up equity share with a face value of ₹10 will be split into five equity shares with a face value of ₹2, pending shareholder approval.
This marks Adani Power’s first corporate action of its kind. The record date for determining eligible shareholders will be announced separately following the shareholder vote. The move is aimed at making the stock more affordable and accessible to a broader base of investors by reducing the price per share, although it will not impact the company’s overall market capitalisation.
A stock split increases the total number of outstanding shares, thereby enhancing liquidity in the market. Industry observers view this as a positive move, especially for retail investors, who currently hold a combined 4.8% stake through nearly 18 lakh accounts. Promoters own 74.96% of the company, while foreign portfolio investors hold 12.46%, based on the latest BSE data.
The stock split aligns with earlier expectations, as NDTV Profit reported on July 9 that a favorable corporate action was likely from the company.
Published on: August 1, 2025
Shares of ITC Ltd. traded higher by 1.8% intraday on Friday, becoming one of the top contributors to the Nifty 50 index after Reliance Industries, as investors positioned ahead of the company’s Q1 FY26 earnings announcement.
The Street anticipates healthy revenue growth, though concerns over operating margin compression remain.
Q1 FY26 Estimates (Standalone, YoY):
• Revenue: ₹20,925 crore, up 14.5%
• EBITDA: ₹6,417 crore, up 2%
• EBITDA Margin: 35.1% vs 37.3%
• Net Profit: ₹5,085 crore, up 3.4%
Analysts expect topline performance to be led by strong showings in ITC’s cigarette and agri businesses. Nirmal Bang Institutional Equities projects cigarette sales to rise by 7%, supported by mid-single-digit volume growth.
However, margin headwinds are likely to emerge from the FMCG and paperboard segments, with FMCG volume growth estimated at 3–5%.
Investor attention will also focus on management’s commentary regarding recent acquisitions, including Sresta Natural Bioproducts, to evaluate their integration progress and contribution to future growth.
Analysts will closely track margin trends, pricing strategies, and the balance between volume-led and value-led growth across product categories.
The company’s broader demand outlook, input cost pressures, and competitive dynamics will be key indicators of ITC’s resilience in a challenging inflationary environment.
Published on: August 1, 2025
Several prominent analysts have issued buy calls on select Indian stocks for today’s trading session, highlighting opportunities in Page Industries Ltd., Garden Reach Shipbuilders & Engineers Ltd., Samunnati Capital Ltd., City Union Bank Ltd., and Aditya Birla Capital Ltd. Each recommendation comes with a clearly defined target price and stop loss, indicating a tactical trading approach with modest upside potential in the short term.
Page Industries:
Aditya Agarwala of Invest4edu recommends a buy with a target of ₹52,000 and a stop loss at ₹46,500, implying a 6.55% upside. However, broader analyst sentiment remains divided: out of 24 analysts tracked by Bloomberg, nine rate it a ‘buy,’ five a ‘hold,’ and 11 a ‘sell.’ The consensus 12-month target is ₹46,555, suggesting a potential downside of 4.6%.
Garden Reach Shipbuilders & Engineers:
Nilesh Jain from Centrum Broking has issued a buy call with a target of ₹2,740 and a stop loss of ₹2,545, implying a 5.38% upside. Of the five analysts tracking the stock, three rate it a ‘buy’ and two a ‘sell.’ Bloomberg’s 12-month consensus target of ₹2,486 points to a potential downside of 4.8%.
Samunnati Capital:
Also recommended by Centrum Broking, Samunnati Capital carries a target price of ₹134 and a stop loss at ₹122, implying a 6.35% upside. Notably, the stock currently lacks coverage by Bloomberg-tracked analysts.
City Union Bank:
Brijesh Ail of IDBI Capital suggests buying City Union Bank with a target of ₹225 and a stop loss at ₹208, indicating a 5.63% upside. The stock enjoys strong analyst support, with 25 of 28 analysts maintaining a ‘buy’ rating. The 12-month consensus target is also ₹225, aligning with today's call and implying a 5.4% upside.
Aditya Birla Capital:
Centrum Broking has also issued a buy call on Aditya Birla Capital, targeting ₹270 with a stop loss of ₹249 for a 5.47% near-term upside. Longer-term sentiment remains bullish, as all 10 analysts tracking the company recommend a ‘buy,’ and the consensus 12-month target is ₹285, reflecting a higher 11.3% upside.
These analyst picks reflect a cautiously optimistic stance amid broader market volatility, favoring technically supported entries with defined risk and reward levels.
Published on: August 1, 2025
The Indian Rupee is projected to weaken further to 88.5 per U.S. dollar in the coming months, according to a report by ICICI Bank. This forecast follows the imposition of new U.S. tariffs, which have been raised to 25% from the earlier 10%, affecting a range of Indian exports.
The Rupee has already depreciated by 2.4% in 2025 and is currently trading at 87.55/USD, as per Reserve Bank of India data. Despite the depreciation, the currency remains broadly competitive with its Real Effective Exchange Rate (REER) hovering around 100.
The ICICI Bank report notes that global currency markets are under pressure, with the U.S. Dollar Index rebounding this month after an 8% year-to-date decline. Strength in the dollar, driven by renewed trade deals, is contributing to a general weakening trend across emerging market currencies, including the Rupee.
The report warns that sustained higher tariffs could negatively impact India's exports, especially to the U.S., at a time when non-U.S. exports are already down 2.9% year-on-year in Q1 FY2026. Assuming demand elasticity of 1.0, India could see a notable drop in export demand, translating into a potential 0.3–0.4% drag on GDP. However, the overall impact could be cushioned to 0.1–0.2% if exports to other regions gain momentum.
The extent of the economic impact will also hinge on global oil price movements. While a global slowdown might ease oil prices, additional sanctions on Russian crude could create upward pressure, further influencing the Rupee's trajectory.
Published on: August 1, 2025
Shares of PNB Housing Finance Ltd. tumbled 15.43% on Friday, hitting a four-month low and triggering a lower circuit limit, following the unexpected resignation of Managing Director and CEO Girish Kousgi. The steep decline highlights investor anxiety over leadership stability at the housing finance firm.
In a regulatory filing, the company confirmed that Kousgi’s resignation has been accepted by the board and will be effective from October 28. He cited a desire to pursue new professional opportunities and assured a smooth transition, adding that the management is well-positioned to maintain the company’s strategic direction.
Kousgi, who joined PNB Housing Finance in October 2022, also steps down from the boards of its subsidiaries, PHFL Home Loans and Services Ltd and the PEHEL Foundation, on the same date. He has over 20 years of experience across major financial institutions like Can Fin Homes, Tata Capital, IDFC Bank, and ICICI Bank.
Despite Friday’s fall, the stock is up 3.03% over the past year. Trading volume surged to 16 times the 30-day average, and the relative strength index (RSI) dropped to 12, signaling oversold conditions. According to Bloomberg, 13 out of 14 analysts maintain a ‘buy’ rating, with the average 12-month target price suggesting a potential 46.2% upside from current levels.
Published on: August 1, 2025
Godrej Properties Ltd. reported a 12.5% year-on-year rise in consolidated net profit to ₹205 crore for the quarter ended June (Q1 FY26), up from ₹182 crore in the same period last year. However, the company's revenue from operations fell sharply by 41% to ₹435 crore, compared to ₹739 crore in the year-ago quarter.
Q1 FY26 Highlights (YoY):
• Revenue: ₹435 crore, down 41%
• EBITDA: Loss of ₹243.29 crore, compared to a profit of ₹125 crore
• Net Profit: ₹205 crore, up 12.5%
Despite the earnings beat on net profit, the operating performance was weighed down by a significant EBITDA loss, marking a reversal from a year ago. The sharp revenue decline and operational loss suggest project execution delays or lower booking revenues during the quarter.
Following the results, shares of Godrej Properties traded 1.95% lower at ₹2,061.80 on the NSE, underperforming the broader Nifty 50 index, which fell 0.43%.
The divergence between profit growth and revenue/EBITDA performance indicates gains may be driven by non-operational income or cost optimizations. Investors and analysts will likely look to the management for further clarity on execution timelines, future launches, and booking momentum in upcoming quarters.
Published on: August 1, 2025
FMCG major ITC Ltd. reported a 3% year-on-year increase in consolidated net profit to ₹5,244 crore for the June quarter (Q1 FY26), up from ₹5,092 crore in the same period last year. Consolidated revenue from operations rose 19.5% to ₹23,129 crore compared to ₹19,350 crore a year ago, showcasing broad-based growth across core segments.
Segment Highlights:
• FMCG: Revenue grew to ₹15,354 crore from ₹14,341 crore YoY, driven by strong performance in staples, dairy, biscuits, personal wash, homecare, and agarbattis.
• Cigarettes: Revenue rose 8.1% YoY to ₹9,554 crore, with differentiated and premium offerings leading the charge.
• Agri Business: Revenue surged 39% YoY to ₹9,724 crore, showing the strongest segmental growth.
• Paperboards, Paper & Packaging: Revenue came in at ₹2,117 crore, up from ₹1,977 crore YoY but slightly down from ₹2,189 crore in the previous quarter.
Despite higher input costs and operational challenges, the company posted a 3% YoY growth in EBITDA. However, margins came under pressure due to high-cost leaf tobacco inventory and rising expenses, which increased 27% YoY to ₹16,752 crore.
Headwinds and Outlook:
The company noted ongoing deflationary trends in the notebooks industry due to low-cost imports and pricing competition from regional players. Additionally, unseasonal rains impacted beverage sales.
ITC said its resilient performance was driven by strong standalone revenue growth across key verticals. It emphasized the continued momentum in premium FMCG products and NewGen channels, while cost efficiencies and supply chain optimization remain strategic priorities.
The market will continue to monitor how ITC manages input cost volatility and maintains margin stability in the coming quarters.
Published on: July 31, 2025
Indian equity markets opened sharply lower on Thursday, July 31, as the BSE Sensex dropped 538.07 points (0.66%) to 80,943.79, and the NSE Nifty 50 fell 167.45 points (0.67%) to 24,687.60, slipping below the key 24,700 level.
The market breadth turned negative, with only 35 stocks advancing, 129 declining, and 13 remaining unchanged on the Nifty, reflecting broad-based selling pressure.
Sentiment was weighed down by mixed global signals, growing U.S.-India trade tensions following President Trump’s 25% tariff announcement, and continued caution ahead of Q1 earnings releases and macro data due later this week. Analysts warned of heightened intraday volatility amid fragile investor confidence.
Stocks in focus include:
• Tata Steel – after strong Q1 results.
• Aurobindo Pharma – facing sectoral pressure from U.S. tariff concerns.
• Gujarat Gas & Navin Fluorine – on watch amid chemical sector re-rating.
• InterGlobe Aviation (IndiGo) – after Q1 profit drop.
• Mahindra & Mahindra – post strong quarterly earnings.
• Hitachi Energy, Sagility India, Brigade Hotel Ventures – likely to react to company-specific triggers.
Investors will closely monitor further updates on trade negotiations, U.S. policy signals, and corporate guidance to gauge near-term direction.
Published on: July 31, 2025
Pharmaceutical stocks came under intense selling pressure on July 31, 2025, after U.S. President Donald Trump announced a sweeping 25% tariff on all Indian goods, including the potential extension to pharmaceutical imports. The Nifty Pharma index fell 1.5%, touching a day’s low of 22,724.7, with 16 out of 20 constituent stocks trading in the red.
Notable laggards included Natco Pharma (-1.7%), Dr. Reddy’s (-1.5%), Lupin (-1.3%), Ipca Laboratories (-1.3%), Zydus Lifesciences (-1.2%), and Granules India (-1.2%). The news follows Trump's post on Truth Social, made just after the fifth round of India-U.S. trade talks in Washington. He also warned of additional penalties tied to India’s energy and defense purchases from Russia.
India exported over $10 billion worth of generic drugs and APIs to the U.S. in FY25, and the tariffs could impact $129 billion in bilateral trade. Analysts warned that a 25% duty could squeeze margins, especially for commodity API manufacturers like Divi’s and Aurobindo, while biologics players such as Biocon and Dr. Reddy’s may show more resilience due to complex manufacturing advantages.
Acute therapy manufacturers are expected to be more vulnerable than chronic disease-focused firms, due to greater pricing sensitivity. Domestic-oriented companies like Mankind, Torrent, and Ajanta are seen as better insulated from the tariff fallout. Defensive plays include hospital chains (Apollo, Fortis) and diagnostic firms (Dr. Lal PathLabs, Metropolis). Indian CDMOs and CROs continue to benefit from global diversification strategies like “China+1”.
The sixth round of trade talks is scheduled for late August in New Delhi, with markets closely watching for clarity on pharmaceutical exemptions and policy adjustments.
Published on: July 31, 2025
Shares of major Indian pharmaceutical companies came under pressure on Thursday after U.S. President Donald Trump announced a 25% tariff on Indian exports to the U.S. While pharmaceutical products remain exempt for now, Trump suggested in a Truth Social post that drug exports may soon face duties.
The Nifty Pharma index fell 1.51% intraday, underperforming the benchmark Nifty 50, which dropped 0.86%. Key pharma players including Sun Pharma, Dr. Reddy’s, Cipla, Divi’s Labs, Aurobindo, Lupin, and Biocon experienced increased market volatility.
The U.S. is a critical export market for Indian drugmakers, with zero tariffs currently applied to generic medicine exports under reciprocal trade provisions. However, that exemption is under review, following the U.S. Department of Commerce’s Section 232 investigation.
If tariffs are extended to pharmaceutical goods, it could compress margins and erode competitiveness for Indian firms. In addition, the announcement included unspecified penalties for countries buying oil and other commodities from Russia, further clouding India’s trade outlook.