News

Buy Sun Pharmaceutical Industries with a target price of ₹2070

Management meet takeaways

1) Sun Pharma focuses on volume growth and differentiated products in India, with GLP seen as a key opportunity.

2) Speciality business drove margin gains in the past 5 years; new launches like Leqselvi and Unloxcyt will have minimal revenue impact in FY26 but incur higher SG&A

3) A new India plant is planned to derisk Halol and Mohali sites.

Morgan Stanley on SBI Cards

Flipkart’s Big Billion Day 2025 sale, which kicked off with steep discounts on premium phones like the iPhone 16 and iPhone 16 Pro, is facing backlash as many customers have reported that their orders have been cancelled.

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TRADE SET UP

Dilip Buildcon (DBL) has emerged as the lowest bidder for a ₹1,115 crore industrial corridor project in Kerala.

The project, awarded by the Kerala Industrial Corridor Development Corporation, covers building and maintaining infrastructure at Pudussery Central and Kannambra in Palakkad.

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MORNING CUES

In Cash Market

Date: Sep 23, 2025

-DII Net Buy 2,671 Cr

-FII Net Sell 3,551Cr

FIIs IN INDEX FUTURES

Contracts                 Change in OI                        Positioning

Longs                      +1,004                   14%

Shorts                        -1072                   86%

FII On Stock Futures (in contracts)

Longs                  +19670

Shorts                 +8078

Nifty levels

Strike                                 Change in OI                 Premium

25300 call                        +17.6 lk shares                             102

25200 put                         +17 lk shares                  98

Nifty levels

Support                                              25050-25085

Resistance                                        25350-25400

NiftyBank with 50 DMA &       100 DMA

Stock to track

GMDC show me the intraday chart

NSE Deliverable Quantity at 9.26 %

Accenture plans to establish a new campus in Andhra Pradesh, which could potentially create around 12,000 jobs in India, according to sources.

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Sajjan Jindal-led JSW Group is expanding in the automobile sector and plans to launch cars and trucks under its own brand, more than a year after announcing a joint venture with MG Motor India.

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Swiggy has approved selling its stake in bike-taxi operator Rapido through two transactions totalling ₹2,399 crore.

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GIFT Nifty was trading nearly 40 points below Tuesday’s, September 23, Nifty Futures close, signalling a weak opening for the Indian market.

Large-cap stocks are trading cheaper than small- and mid-cap indices, making them an attractive option for investors seeking lower volatility and a stable entry point in uncertain markets, said Chintan Haria, Principal – Investment Strategy at ICICI Prudential AMC.

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In today’s trade, some of the stocks to watch out inlcude Swiggy, HCLTech, Akzo Nobel, Bajaj Electricals, Torrent Power, Karur Vysya Bank, Infosys, Dilip Buildcon and more.

On the weekly expiration day of the Nifty, there was market instability. Tuesday saw the index close 33 points down at 25,170 despite significant intraday fluctuations, continuing weakness for the third consecutive session.

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