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Paul Uren, Head of Investment Banking-Asia Pacific at JPMorgan, To CNBC-TV18

John-David Lovelock, Distinguished VP Analyst, Gartner To CNBC-TV18

The shares of Vodafone Idea surged by over 6% in the intraday trade on Tuesday.

The Nifty India Defence index has fallen by over 1% in today’s trade so far.

The Nifty Realty index has fallen by over 1%.

SpiceJet has received its second credit rating upgrade this month, with Acuité Ratings raising the airline’s long-term rating to BB (Stable).

Shares of Premier Energies fell on Tuesday, September 23, even as brokerage Avendus Spark initiated coverage with an “add” rating and set a price target of ₹1,100 per share, implying a 7% upside from its last close.

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Jubilant Pharmova has appointed Arun Kumar Sharma as its new Chief Financial Officer (CFO), effective October 1.

Rupee At Record Low

The Central Bank of India has partnered with US-based C2FO Factoring Solutions to facilitate its TReDS (Trade Receivables Discounting System) business, aiming to streamline receivables financing for businesses.

With a price objective of ₹175 per share, broking firm Jefferies has kept its ‘Buy’ recommendation on hypermarket chain Vishal Mega Mart Ltd. This goal suggests a possible 17% increase from Monday’s closing prices.

Vishal Mega Mart has been able to propel same-store sales growth every day, the company stated, despite a weak industry demand environment.

Sonata Software stated that its use of H-1B visas is minimal and that the recent changes will have no impact on its existing employees or contractors.

Veefin Solutions has partnered with IWS Holdings to digitise the banking, financial services, and insurance (BFSI) sector in Sri Lanka, aiming to enhance digital adoption and streamline financial services in the region.

Market extends losses, Nifty below 25,100

Ola Electric has launched its new campaign, ‘Ola Celebrates India’, introducing the Muhurat Mahotsav festival offer.

As part of the initiative, Ola’s electric vehicles are now available starting at ₹49,999.

Hero MotoCorp has introduced its new scooter, the Destini 110, with an ex-showroom price of ₹72,000.

The model will be available at Hero dealerships nationwide, with the VX Cast Drum variant priced at ₹72,000 and the ZX Cast Disc variant at ₹79,000 (Ex-Showroom, Delhi).

These are the major movers in terms of volume among the Nifty 500 stocks (10-day average)

Market Watch: Vinay Rajani – Sr Technical and Derivative Analyst, HDFC Securities

Sell Cipla for a target price of ₹1,495 with a stop loss of ₹1,555

Buy Samvardhana Motherson for a target price of ₹160 with a stop loss of ₹108

Pragnyat, CMD, Seshaasai Technologies On CNBC-TV18

Tata Motors shares rose on Tuesday, September 23, following a strong start to the festive season.

The company reported 10,000 vehicle deliveries and over 25,000 customer inquiries on the first day of Navratri, signalling robust demand and positive market sentiment.

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Investors are closely watching for a potential rollback of additional US tariffs on Indian goods, which could boost market sentiment.

JPMorgan’s Rajiv Batra told CNBC-TV18 that a bigger market lift is expected from the 8th Pay Commission, as consumer spending currently has a greater impact on growth than capital expenditure.

He also forecasted the US dollar index (DXY) to be around 95 by year-end and 92 by June next year.

Global brokerage Nomura is optimistic about the steel sector, pointing to production cuts, potential Chinese stimulus measures, and possible gains in domestic prices.

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Vedanta Says

Ajit Kumar, Lead BFSI Research Analyst at JM Financial Institutional Securities

Shares of Euro Pratik Sales, a company specialising in decorative wall panels and laminates, made their stock market debut on Tuesday, September 23, following a ₹451 crore IPO last week. The stock opened at a premium of around 11%.

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Neeraj Akhoury of Shree Cement said the company expects about 6% volume growth in FY26 and plans to pass GST benefits to customers to drive demand.

He expressed confidence that recent GST rate cuts will support overall industry growth.

Additionally, Shree Cement anticipates its premium cement sales to increase from 17% to 18–20%.

Rupee extends losses, hits new record low of ₹88.56 against the US Dollar

Jamie Dimon, the head of the biggest bank in the world, JPMorgan Chase & Co., believes that while the US economy is deteriorating, it is not a “disaster.”

Dimon made it clear in an exclusive interview with CNBC-TV18 on Monday that he is a bit more cautious than most others when it comes to inflation.

Birlasoft stated that it does not expect any immediate major impact from the recent H-1B visa fee increase.

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