News

CLSA on ITC:

Outperform rating, Target Price cut to Rs 367 from Rs 485

Indirect tax on cigarettes increased considerably in February 2026, with replacement of compensation cess by GST and excise duties

Believe ITC will need price increases of 33% to be neutral on Ebit per cigarette, which would drag volumes and cigarette division Ebit in FY27

Expect a recovery in FY28 after assuming no further tax increases, as suggested by ITC’s historical record in passing on these tax increases (last in FY14-16)

Cut estimates by 4-28%

Bharti Airtel is planning to build a high-scale NBFC platform under Airtel Money. It will be capitalised with Rs 20,000 crore, which is set to be infused over the next few years.

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The new tariffs are to be issued under Section 232, will be separate from 15% global tariffs, says the WSJ report.

The new levies could cover industries like large-scale batteries, cast iron & iron fittings, plastic piping, industrial chemicals, power grid & telecom equipment, the report added

Suraj Estate Developers Acquires Happy Pacific With A Potential of Rs 200 Crore GDV Project In Prabhadevi

The Rs 380 crore IPO will open for subscription today. Ahead of the open, the firm has raised Rs 170.58 crore from anchor investors.

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The GIFT Nifty is trading at a discount of over 80 points from Nifty Futures Monday’s close.

Asian markets are trading mixed this morning tracking the overnight sell-off on Wall Street.

The Nikkei 225 in Japan is trading with gains of 0.6%, while the KOSPI in South Korea is down over 1.1%.

The Chinese markets will reopen today after the long Lunar New Year holiday. Futures there are pointing towards a lower start.

Overnight, Wall Street indices sold-off sharply with the Dow Jones falling over 800 points, while the S&P 500 and Nasdaq fell over 1% each.

A combination of factors ranging from Anthropic’s latest blog post to Donald Trump’s tariff threats contributed to the sell-off.

You can on that here.

The Nifty 50 index remains stuck in a range of 500 points between 25,500 and 26,000.

The first hurdle on the upside though is 25,800 as the index is yet to test or cross last week’s high of 25,885.

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