News

IT stocks hit day’s high; Persistent Systems and LTIMindtree up nearly 3% each.

Venugopal Rao Maddisetty of Pace Digitek shared the company’s outlook on CNBC-TV18, highlighting key developments and expectations for FY26:

The share price of Netweb Tech declined on Monday after multiple sessions of gains.

Govt weighs resolution of Vodafone dues row to bolster UK ties, considering one-time settlement.

SS Mundra, Former Deputy Governor, RBI

HR Khan, Former Deputy Governor, RBI

Suresh Ganapathy, Macquarie Capital

The shares of Tata Investment continued the winning run, even on Monday. The company’s shares have jumped nearly 50% in a month.

The shares of Yes Bank rose on Monday, marking a rise of just under 0.50%.

Gold prices in India opened the week on a strong note, with 24-karat gold trading at ₹12,077 per gram, 22-karat at ₹11,070 per gram, and 18-karat (999 gold) at ₹9,058 per 10 grams, according to GoodsReturns.

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HSBC/S&P Global September Composite PMI at 61 vs 63.2 in August.

J&K Bank Ltd. reported its Q2FY26 business update:

Kotak Instl Eq upgrades Delhivery to buy from ADD, target raised to ₹565 from ₹550/sh.

Kotak Instl Eq upgrades Delhivery to buy from ADD, target raised to ₹565 from ₹550/sh.

Market extends gains, Nifty Bank up nearly 1%

Dharmesh Kant, Head-Research, Chola Securities on Narayana Health and DMart.

Narayana Health

“Valuation wise its comfortable. It is still trading at 45-46-time PE multiple on a trailing basis; one year forward is 37-38 and return on equity (ROE) are the best in the industry, it has RoE of 24-25. So still a lot of scope and catch up can happen out there.”

Avenue Supermart

“DMart is still trading at, depending on what kind of a valuation multiple you are seeing 75 to 80 times one year forward and on trailing twelve months (TTM) basis 102 times PE multiple with margins being at 13-14%. So, to my mind it’s more of a negative rating for DMart rather than a progressive growth. So, stock will continue to languish where it is, with signs of corrections setting in.”Vinay Rajani, Senior Technical & Derivative Analyst at HDFC Securities, has provided the following trading recommendations:City Union Bank – Buy with a stop loss of ₹215 and a target of ₹226.Bajaj Finserv – Buy with a stop loss of ₹2,000 and a target of ₹2,090.

Ashok Chandra, MD & CEO of Punjab National Bank (PNB), shared his outlook on CNBC-TV18, highlighting the bank’s growth prospects and upcoming plans.Pace Digitek Ltd., a telecom infrastructure solutions provider, listed at ₹225 per share, above its issue price of ₹219. The company’s initial public offering (IPO) was open for public bidding from September 26 to September 30, aiming to raise ₹819.15 crore.The Bengaluru-based company will now be under market scrutiny as investors watch its trading momentum in the coming sessions.

The Indian rupee opened slightly stronger at 88.74 per US dollar on Monday, October 6, compared to Friday’s close of 88.77, aided by expected inflows from upcoming IPOs, according to currency dealers.

Last week, the rupee had touched a record low of 88.80. Traders noted that state-run banks were offering dollars in early trade, likely on behalf of the Reserve Bank of India (RBI), which has been actively intervening near the 88.80 level to curb further depreciation.

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Rajiv Sabharwal, MD & CEO of Tata Capital, spoke on CNBC-TV18 about the company’s growth and outlook.

Vodafone Idea slips nearly 5% ahead of AGR plea hearing.

Shares of Jubilant Foodworks Ltd. gained on Monday, October 6, after the company reported provisional numbers for Q2FY26. The stock, however, retraced from its opening highs.

The company’s consolidated revenue from operations rose 19.7% YoY to ₹2,340.4 crore, while standalone revenue increased 15.8% to ₹1,698.7 crore. Domino’s India reported a like-for-like (LFL) growth of 9.1%, and Domino’s Turkey posted LFL growth of 5.6%.

Jubilant Foodworks’ store network expanded to 3,480 outlets, with 93 new stores added during the July-September quarter, reflecting continued expansion in both domestic and international markets.

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Sanjay Mookim from JPMorgan shared his views on CNBC-TV18, highlighting the current trends in India and other emerging markets.

Hospital stocks up over 2% each after Central Government Health Services (CGHS) decides to revise rates, Fortis Healthcare up nearly 3%.

Manik Taneja, Executive Director – IT Services & Internet at Axis Capital, shared his views on CNBC-TV18 regarding the Indian IT sector.

HDFC Bank heading with minor gains & IndusInd Bank recovers on Q2 Update

Sudarshan Sukhani, Technical Trends

Buy Granules with a stop loss of ₹549

Buy Kalyan Jewellers with a stop loss of ₹481

Buy United Spirits with a stop loss of ₹1,337

Buy Tata Tech with a stop loss of ₹693

Mitessh Thakkar, Bonanza Portfolio

Sell Lodha Developers with a stop loss of ₹1,136 and a target of ₹1,070

Buy Nuvama Wealth with a stop loss of ₹6,690 and a target of ₹6,890

Buy Shriram Finance with a stop loss of ₹635 and a target of ₹665

Buy MCX with a stop loss of ₹8,050 and a target of ₹8,350

Motilal Oswal has upgraded Max Financial (MAXF) to BUY, with a target price of ₹2,000, indicating a potential upside of 25%. The brokerage highlighted that Axis Max Life is outgrowing the industry, reporting 15% APE growth and 32% VNB growth, driven by strong bancassurance traction and a scaling agency network.

The company’s product mix is increasingly tilted towards high-margin non-par and protection products, now accounting for 56% of APE, which is driving VNB margin expansion (+260bps YoY). A structural catalyst for Max Financial is the reverse merger with Max Life, expected to unlock synergies, simplify the structure, and trigger a valuation re-rating.

Motilal Oswal expects industry-beating APE and VNB CAGR of 18% and 21% respectively for FY25–28, reinforcing a positive outlook on the stock.

The shares of Aditya Birla Lifestyle have surged by over 9% after a large trade.

Market opens flat, Nifty 50 above 24,900; Financials & FMCG in focus on  Q2 Updates

In response to the September quarter business update that Avenue Supermarts Ltd., the parent company of the hypermarket chain DMart, released after market hours on Friday, its shares dropped on Monday, September 6.

Between July and September, DMart’s standalone revenue increased by 15.4% to ₹16,218 crore, which is somewhat below than the three-year Compounded Annual Growth Rate (CAGR) of 15.8%.

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