News

– Small & midcaps have run up ahead of fundamentals

– I am NOT optimistic on small & midcaps

– As a category I feel large caps will outperform

– Markets in last 5 years has seen excesses at both ends moderating

– Valuation differential between large caps & midcaps / smallcaps is high, expect it to be bridged

– Over time, adoption of AI may actually become a tailwind for Indian IT companies

– Top loser on Nifty 500 index

– Fifth straight quarterly loss

– Q4 revenue down 70% sequentially and year-on-year

– FY26 revenue down nearly 90%

– Stock among worst performers on Smallcap index over last 12 months

– Biggest single-day gain since December 2020

– Has gained in three out of last four sessions

– 44 lakh shares already traded in first 30 minutes Vs 20-day average of 2 lakh

– Stock moves above 50-Day Moving Average at ₹239

– 13 out of 16 analysts covering the stock have a “buy” rating, two say “hold”, one has a “sell”

– Stock still down 38% from its 52-week high of ₹403

– Non-index midcap IT names seeing strong traction

– Firstsource Solutions up 14%, Sonata Software up 13%

– Both are the top two gainers on the Nifty 500 index

– Nifty IT index is the top sectoral gainer today

– All constituents of the index are trading with gains

– Coforge is the top gainer on the index with a 3.5% surge

– Infosys and TCS trading with gains between 1.5% to 2%

– Non-index, smaller IT names seeing greater quantum of gains

– More details on that in the next post

– Biggest single-day gain for the stock since August 2025

– Stock is the top gainer on the Nifty 500 index

– Second straight day of gains; Stock was up 5% on Wednesday as well

– Stock from ₹209 at March-end has gone up to ₹284 in today’s session

Shares of HDB Financial gained as much as 12% in early trading on Thursday.

The last instance of the stock gaining by this quantum was on the day of its listing, when it listed at a 13% debut to its issue price.

The stock is the top gainer on the Nifty 500 index today.

– Nifty has opened another 140 points higher

– 49 stocks on the index have opened with gains

– 97 stocks on the Nifty 100 index have opened higher

– 193 stocks on the Nifty 200 index have opened higher

– 479 stocks on the Nifty 500 index have opened higher as well

Rupee has opened stronger on Thursday in comparison to the US Dollar.

– Emkay has maintained its “buy” rating on Ather Energy

– Price target has been raised to ₹1,150 from ₹1,000

– Revised price target implies an upside potential of 32%

– Top pick with this space for Emkay

– Maintains “buy” rating

– Price target cut to ₹2,600 from ₹2,750

– Factoring in impact of geopolitical headwinds

– Cut EBITDA estimates by 3%to 7%

– Adani Airports facing NT traffic softness and delayed ramp-up

– Biggest single-day gain since March 2021

– Has gained in five out of last seven sessions

– Wednesday’s volumes the total of last 48 sessions together

– 6.95 crore shares traded Vs 20-day average of 13.54 lakh

– Only 4.5% of total shares traded marked for delivery

– Stock still down nearly 50% from its 2024 peak

– Nomura is “neutral” on HDB Financial with a price target of ₹740.

– ₹740 is also the issue price for HDB Financial

– Jefferies has maintained its “buy” rating with a price target of ₹845

– Motilal Oswal remains “neutral” but has raised its price target to ₹720 from ₹650 earlier

Aurobindo Pharma has expanded the biologics manufacturing partnership with Merck Sharp & Dohme. The deal supports Aurobindo’s contract manufacturing for biologics.

Rubicon Research has also entered into the Indian branded formulations market by acquiring 85% stake in Arinna Lifesciences for close to 176 crore rupees.

HDB Financial Services reported a 22% surge in its core income, while profits grew over 40% from last year. Asset quality also improved.

ICICI Lombard’s gross written premium went up by 17% from last year, while total income also went up by a similar quantum.

Tejas Networks reported its fifth straight quarterly loss with revenue seeing a decline of over 70% both sequentially and year-on-year.

– Tejas Networks reported a 70% sequential drop in its revenue for the fourth quarter

– On a year-on-year basis, revenue declined 72%

– The company reported a net loss for the fifth straight quarter

– Revenues for FY26 were down 87% year-on-year

– Stock among worst performers in the Smallcap index, down 47% in last 12 months

– Nifty put-call ratio at 1.11

– FIIs bought ₹1,243 crore in index futures and sold ₹94 crore worth of stock futures

– Net FII shorts remain at 79% with longs at 21%

– 24,200 Nifty put sees addition of 44.25 lakh shares

– 24,200 Nifty call also sees addition of 34.57 lakh shares

– Sammaan Capital and SAIL remain the two stocks in the F&O ban

– Nexus Fund sold 0.53% stake in the company on Wednesday for ₹186 crore

– Here’s the list of buyers: Goldman Sachs, Morgan Stanley, Edelweiss MF, Nippon India MF, and Viridian Asia Opportunities Fund

– Stock still trades below its issue price of ₹487

“The recovery rally is now testing overhead resistance at 24,300 – 24,400, an area defined by the 50-DMA. A decisive break above this resistance zone would place the index back into the H2 2025 trading range, with 200-DMA providing the next upside hurdle near 25,130.”

The GIFT Nifty, an early indicator of how Indian equities are likely to begin trading, is indicating another Gap-up start for our own markets on the day of the Sensex weekly expiry.

Asian markets have opened higher, tracking overnight moves on Wall Street, which took the S&P 500 and Nasdaq to record high levels.

Both the Nikkei 225 index and the KOSPI in South Korea have opened with gains of over 1% each, while futures on the Hang Seng index are also indicating a positive start.

Crude oil prices are mostly steady this morning.

Oil prices are devoid of any significant price action over the last few sessions.

Hopes of a potential truce between the US and Iran is preventing any further rise.

Brent remains around $95 a barrel, while WTI is holding on to the $90 a barrel mark.

Today is the weekly expiry of the Sensex contracts.

Stocks like HDB Financial, ICICI Lombard and Tejas Networks will also be reacting to their results that were reported after market hours on Wednesday.

Stocks like Wipro, HDFC Life, Angel One, CRISIL, HDFC AMC are some names that will be reporting their results today,

The bulls would want to take heart from the overnight rally on Wall Street.

S&P 500 gained for 10th out of the last 11 trading sessions.

Nasdaq rallied for the 11th day running.

Both the indices ended at record high levels overnight.

The Nifty 50 index is now up over 2,000 points from the recent lows of 22,182.

Largecaps have done well, but it is the broader markets that have outperformed.

The Nifty Smallcap 250 index recovered all of its Iran war losses during Wednesday’s trading session.

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