Nifty 50 opened at 24,728.55, up by 73 points (0.22%). Bank Nifty opened at 54,460.40, increased by 71 points (0.13%). Sensex opened at 80,588.77, jumped 165 points (0.71%). GIFT Nifty is currently trading at 24,732.00.
Global index as of 29 September 2025
- DOW 30 closed at 46,247.29, up by 299.97 points (0.65%).
- S&P 500 closed at 6,643.70, up by 38.98 points (0.59%).
- NASDAQ increased by 99.37 points (0.44%), closing at 22,484.07.
- FTSE 100 increased by 70.85 points (0.77%) to settle at 9,284.83.
- DAX increased by 204.64 points (0.87%), ending at 23,739.47.
- NIKKEI 225 decreased 462.47 points (-1.02%) to trade at 44,892.52.
Commodities Update
- Gold: Currently trading at Rs. 114,500 per 10 grams.
- Silver: zoomed by 0.63%, now at Rs 142,837 per kilo.
- Crude Oil: Prices have gained by 0.47%, reaching 68.755, compared to the previous close of 68.445.
Global events/updates
- Asian markets opened mixed on Monday as investors shrugged off fresh tariff news. The Reserve Bank of Australia began its two-day policy meeting, with expectations it will keep interest rates unchanged at 3.6%, according to a Reuters poll. Overall, markets showed resilience, balancing global trade concerns with cautious optimism around central bank decisions and regional growth prospects.
- Vice President JD Vance expressed confidence that TikTok is now separated from its Chinese parent ByteDance, easing concerns about data security. He stated that the U.S. has taken steps to ensure control over user data, addressing long-standing fears about China’s influence. Vance said he is optimistic about TikTok’s future in the U.S.
- The proposed $100,000 fee on new H-1B visas will significantly impact Indian tech workers, who form most of the H-1B talent pool. India warns of humanitarian consequences as families face disruption. Rising costs and uncertainty may push U.S. firms to expand Global Capability Centers in India, offering local opportunities and strengthening India’s talent ecosystem.
- India’s stock market has lagged peers in 2025 due to FPI outflows, rupee weakness, and trade concerns. Mahesh Patil sees hope in consumption recovery, autos, consumer staples, and IPOs, though high household debt is a risk. He highlights power, utilities, and IT as opportunities, advising investors to diversify with multi-asset funds for stability amid global uncertainty.
- Crisil warns U.S. tariffs on Indian goods could hurt exports and investments, posing risks to growth. Still, strong domestic consumption, softening inflation, and rate cuts should support momentum. India’s GDP grew 7.8% in Q1 FY26, while inflation is expected to ease to 3.5%. The RBI may deliver one more rate cut before pausing.
Stocks to watch
- Tata Motors: Shailesh Chandra will take over as MD & CEO from October 1. Group CFO P.B. Balaji will step down on November 17, with Dhiman Gupta appointed as his successor. The company also received NCLT’s approval for its demerger plan.
- Hindustan Unilever: About 40% of HUL’s portfolio benefits from the latest GST cuts, which will be passed on to customers through lower prices. However, the company expects September–October sales to take a temporary hit due to GST reforms.
- Godrej Agrovet: Signed an agreement with the Ministry of Food Processing Industries to boost food processing and innovation. Plans to set up new manufacturing and R&D facilities with an investment of ₹960 crore.
- NTPC: Approved an equity infusion of up to ₹2,444 crore in North Eastern Electric Power Corporation for three hydro and one solar project. Also cleared a joint venture with Aravali Power to build a waste-to-charcoal plant in Haryana.
- Oil India: Discovered natural gas in its shallow offshore block in the Andaman region.
- PG Electroplast: Through subsidiary PG Technoplast, purchased 50 acres in Sri City, Andhra Pradesh. Plans to invest nearly ₹1,000 crore in new facilities.
- IRFC: Approved a ₹12,640 crore term loan for a thermal power project in Chhattisgarh and another ₹4,000 crore loan for Talcher Fertilizers’ coal gasification urea project.
- Azad Engineering: Signed a long-term deal worth about ₹651 crore with Mitsubishi Heavy Industries to supply advanced aero-engine components.
- Sula Vineyards: Received a tax penalty of ₹6.45 crore from the Deputy Commissioner of State Tax, Nashik.
- Shriram Finance: Will invest an additional ₹300 crore in subsidiary Shriram Overseas through a rights issue.
- Amanta Healthcare: Reported Q2 profit of ₹3.5 crore versus a loss of ₹0.36 crore last year. Revenue slipped 4.1% to ₹65.3 crore from ₹68.1 crore.
- Ceigall India: Its subsidiary received NHAI’s appointed date for a ₹981 crore Ludhiana–Bathinda highway project under Bharatmala. Separately, a joint venture with JSP Projects won a ₹509 crore GMADA infrastructure project to be completed in 24 months.
- PG Electroplast: Through subsidiary PG Technoplast, purchased 50 acres in Sri City, Andhra Pradesh, with plans to invest ₹1,000 crore in a manufacturing campus over five years.
- Alkem Laboratories: Signed a Business Transfer Agreement to shift its trade generics business to subsidiary Alkem Wellness on a slump sale basis, effective October 1.
- Lemon Tree Hotels: Shareholders appointed Neelendra Singh as MD and Kapil Sharma as Executive Director & CFO for five years starting October 1. Patanjali Keswani will serve as Executive Director & Chairman for 18 months from the same date.
- BEML: Signed a tripartite MoU with Bharat Forge and Data Patterns to jointly support the AMCA programme and respond to ADA’s Expression of Interest.
- Waaree Energies: Acquired a 76% stake in Racemosa Energy for ₹53 crore under a definitive agreement.
- Zaggle Prepaid Ocean Services: Partnered with IDFC First Bank to provide SaaS solutions for the bank’s corporate clients.
- Allied Blenders & Distillers: CFO Anil Somani resigned effective October 9 but will stay on for special projects. Jayantt Bhalchandra Manmadkar will take over as CFO from October 10.
- Vascon Engineers: Entered into an MoU with Adani Infra to work as an execution partner on selected projects over five years. Three projects in Mumbai, covering 13.15 million sq. ft, have already been identified.
- Deepak Nitrite: Subsidiary Deepak Chem Tech commissioned a new hydrogenation plant at Dahej, Gujarat, with a capex of about ₹115 crore.
- Power Grid Corporation: Approved two projects worth ₹705.5 crore: a ₹209.7 crore VOIP system for grid operations across five regions and a ₹495.8 crore disaster preparedness project under the Make in India initiative.
- Sky Gold and Diamonds: Appointed Siddharth Sipani as CFO from September 27 after Mangesh Chauhan resigned from the role.
- Chambal Fertilisers: Received a penalty order of ₹526.8 crore from CGST & Excise, Patna, relating to GST liability on subsidies and wrong ITC claims for FY19–23.
- Godawari Power and Ispat: Reported six employee deaths and six injuries due to the collapse of a wall at its pellet plant in Raipur.
- Interarch Building Solutions: Announced a ₹100 crore investment in a new Andhra Pradesh plant to expand capacity for steel buildings, data centres, electronics, and battery plants.
- Birlasoft: Re-appointed Angan Guha as CEO & MD for two more years starting December 1.
- Gujarat Narmada Valley Fertilizers: Restarted operations at its Dahej TDI-II plant after completing safety checks and repairs following a gas leak.
Bulk and Block Deals
- Morgan Stanley: Bought shares worth ₹201.3 crore across 10 companies, including Bharat Electronics, Bharti Airtel, Eternal, Paytm, Hero MotoCorp, Varun Beverages, Axis Bank, Kotak Mahindra Bank, Godrej Properties, and Shriram Finance, from Goldman Sachs.
- VIP Industries: Promoter group entities sold a 6.22% stake for ₹343.2 crore. Kiddy Plast sold 10.87 lakh shares at ₹388 each, while Piramal Vibhuti Investments sold 77.5 lakh shares at ₹388.25 each. Meanwhile, Multiples PE Gift Fund IV and Samvibhag Securities acquired 82.2 lakh shares (5.85% stake) for ₹319.1 crore at ₹388 apiece.
Brokerage Recommendations
- IndusInd Bank (Morgan Stanley): Upgraded to Equal-weight with a higher target of ₹785. Valuations look fair given strong CET-1 and LCR. New CEO brings clarity. RoA is seen improving from 0.3% in FY26 to 1% in FY28.
- Delhivery (BofA): Maintains Neutral with a ₹500 target. Festive demand and reduced 3PL competition support growth. Express yields stable near-term, with upside ahead. GST-related shifts and upfront costs weigh short-term.
- Pidilite (JP Morgan): Maintains Overweight with a ₹1,700 target. Sees positive demand, a strong diversified portfolio, and double-digit growth in FY26. B2B is improving, while distribution expansion and store productivity remain key levers.
- Vishal Mega Mart (JP Morgan): Maintains Overweight with a ₹158 target. CEO assures on high-growth sustainability via disciplined execution. Revenue outlook strong, private labels central to strategy, and aggressive store expansion planned.
- HUL (BofA): Maintains Neutral with a ₹2,840 target. GST transition pressures sales near term, but recovery is expected later. An unexciting quarter is likely, with management commentary being the key trigger.
- JSW Steel (Morgan Stanley): Maintains Overweight with a ₹1,300 target. Supreme Court clears BPSL acquisition, removing a major overhang. This positive development is expected to lend support to the stock price.
Mainboard/SME IPO Listing on September 29
- Atlanta Electricals
- Ganesh Consumer Products
- Prime Cable Industries
Stocks in F&O ban
- RBL Bank
Written by Abhishek Singh
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