Nifty 50 opened at 24,620.55, up by 8 points (0.002%). Bank Nifty opened at 54,653.90 increased by 18 points (0.03%). Sensex opened at 80,173.24, down 94 points (-0.03%). GIFT Nifty is currently trading at 24,737.50.
Global index as of October 1, 2025
- DOW 30 closed at 46,397.89, up by 81.82 points (0.18%).
- S&P 500 closed at 6,688.46, up by 27.25 points (0.41%).
- NASDAQ increased by 68.86 points (0.30%), closing at 22,660.01.
- FTSE 100 increased by 50.59 points (0.54%) to settle at 9,350.43.
- DAX increased by 135.66 points (0.57%), ending at 23,880.72.
- NIKKEI 225 decreased 521.37 points (-1.16%) to trade at 44,411.26.
Commodities Update
- Gold: Currently trading at Rs. 117,609 per 10 grams.
- Silver: zoomed by 1.12%, now at Rs 143,747 per kilo.
- Crude Oil: Prices jumped by 0.15%, reaching 65.995, compared to the previous close of 65.90.
Global events/updates
- The U.S. government is set to shut down after midnight as Congress failed to agree on funding. House Speaker Mike Johnson blamed Democrats for blocking a temporary funding bill, while Democratic leader Hakeem Jeffries argued Republicans are responsible if the shutdown happens. The standoff highlights deep political divisions, leaving federal operations and workers facing uncertainty.
- Asian markets traded mixed as Wall Street brushed off U.S. government shutdown worries. Investors are awaiting the Reserve Bank of India’s interest rate decision on Wednesday. In Japan, the Bank of Japan released its closely watched Tankan survey on business sentiment. Meanwhile, markets in mainland China and Hong Kong remained closed for a holiday.
- The U.S. government faces a shutdown at midnight as lawmakers clash over Affordable Care Act tax credits. Republicans argue Democrats want benefits extended to undocumented immigrants, a claim Democrats strongly deny. The dispute has stalled negotiations, making ACA funding and immigration the central issues in the ongoing budget standoff.
- South Korea’s exports dropped 6.1% in September when adjusted for working days, as U.S. tariffs hit trade despite more business days. Headline exports rose 12.7% on the calendar shift, while imports gained 8.2%, leaving a $9.6 billion surplus. Semiconductor and auto shipments grew, but steel and petrochemicals slumped under higher tariffs and weak demand.
- The RBI’s Monetary Policy Committee will announce its decision today, with most economists expecting the repo rate to remain unchanged at 5.50% and the stance to stay ‘neutral’. This would be the second pause after earlier cuts. Analysts highlight stable inflation below 4% and recent fiscal measures as reasons to wait before further easing.
Stocks to watch
- Pfizer: Pfizer Inc., the U.S. parent, has secured a three-year exemption from tariffs on pharmaceutical imports imposed by President Donald Trump. The 100% tariff is set to take effect from October 1.
- Tata Motors: The company has set up a new subsidiary, TML CV Holdings BV, in the Netherlands. It invested ₹120 crore in Series C Compulsorily Convertible Preference Shares and acquired 49,500 equity shares worth nearly ₹14 crore in Freight Commerce Solutions, aiming for a 42–46% stake on a fully diluted basis.
- IndusInd Bank: Anand Vardhan has been appointed as General Counsel and Senior Management Personnel. He previously served as Group General Counsel at Piramal Group.
- Man Industries: SEBI penalized the company for not consolidating financials with Merino Shelters (FY2015–2021). Individuals involved are barred from the securities market for two years. The company clarified that the order doesn’t affect its operations or strong order book of over ₹4,700 crore.
- Nestlé India: Signed an MoU with the Ministry of Food Processing Industries at the World Food India Summit to accelerate investments in greenfield projects (Odisha) and brownfield expansions over the next two to three years.
- HUDCO: Sanctioned ₹92,710 crore and disbursed ₹25,839 crore in loans during H1 FY26. Q2 disbursements rose 43.6% YoY to ₹13,026 crore.
- United Spirits: Declined to comment on reports regarding a possible stake sale in Royal Challengers Bengaluru.
- DLF: Its subsidiary approved the allotment of 1.1 lakh NCDs worth ₹1,100 crore via private placement.
- Infibeam Avenues: Completed the transfer of its investment in IPMPL to subsidiary Rediff.com India Ltd. as part of the slump sale of its Platform Business Undertaking.
- IREDA: Loan sanctions surged 86% YoY to ₹33,148 crore, while disbursements rose 54% to ₹15,043 crore in Q2.
- Jaiprakash Associates: CCI approved its acquisition by Jindal Power of the Jindal Group.
- Nestlé India: Signed an MoU with MoFPI to expedite greenfield (Odisha) and brownfield expansions.
- Shree Cement: Commissioned a 3.65 MTPA clinkerisation unit at Jaitaran, Rajasthan.
- Atlantaa: Won a ₹2,485 crore EPC contract with IRCON for the Bhandara-Gadchiroli Expressway in Maharashtra.
- Oil India: Signed an MoU with GAIL to enhance cooperation across the natural gas value chain.
- RITES: Entered an MoU with Etihad Rail for collaboration in mobility projects in the UAE and beyond.
- Swan Defence: Partnered with Samsung Heavy Industries to explore shipbuilding and heavy engineering opportunities globally.
- Adani Enterprises: Subsidiary ARTL signed agreements to acquire 100% stakes in Yashodhan Highways and KN Highways Development.
- Indian Overseas Bank: RBI imposed a ₹31.8 lakh penalty for non-compliance with priority sector lending norms.
- ICICI Bank: Received a GST demand notice of ₹216.27 crore from the CGST Commissionerate.
- Lupin: Received USFDA approval for its generic Rivaroxaban oral suspension, bioequivalent to Janssen’s Xarelto, used in VTE treatment.
- Newgen Software: Subsidiaries secured multiple contracts — £29.85 lakh in the UK, $16.37 lakh in the Caribbean, $56.36 lakh in Ghana, and KWD 17.36 lakh in Dubai for software and digital platforms.
- RateGain Travel Tech: Through its subsidiary, agreed to acquire Sojern Inc., a leading AI-driven MarTech player in hospitality.
- Adani Total Gas: CFO Parag Parikh resigned effective Sept 30; successor to be appointed soon.
- SKF India: CFO Ashish Saraf resigned post-demerger; MD Mukund Vasudevan stepped down, to continue as Non-Executive Director. Shailesh Kumar Sharma appointed MD for 5 years; Aashi Arora named Interim CFO from Oct 1.
- HUDCO: Loan sanctions reached ₹92,710 crore, with disbursements of ₹25,839 crore in H1; Q2 disbursements rose 43.6% YoY.
- United Spirits: Declined to comment on reports of stake sale in Royal Challengers Bengaluru.
- DLF: Subsidiary approved allotment of 1.1 lakh NCDs worth ₹1,100 crore via private placement.
- LG Balakrishnan & Bros: Detected a malware attack on select IT systems; corrective action underway.
Bulk and Block Deals
- Awfis Space Solutions: VBAP Holdings sold 9.96 lakh shares (1.39% stake) in Awfis for ₹56.8 crore at ₹570.12 per share. This marks its third sale in Q2, reducing its stake by 3.58%.
- NIBE: Venus Stellar Fund acquired 2,77,877 shares (1.9% stake) in NIBE at ₹1,451 per share, worth ₹40.3 crore, from Aegis Investment Fund, which held a 4.94% stake as of June 2025.
- AAA Technologies: Promoter Ruchi Anjay Agarwal sold 2.8 lakh shares at ₹79.6 per share to M7 Global Fund. In total, promoters divested 12.52 lakh shares (9.76% stake) in AAA Technologies since last week.
Brokerage Recommendations
- Nazara Tech (CLSA, U-P ₹166): India’s new online gaming law bans all real-money games from October 1. Nazara’s PokerBaazi stake and Nodwin ownership fall below 50%, impacting revenue, though esports revenue grew 17% YoY. Stock remains expensive at 48x FY27 PE.
- KPIT Tech (JPM, OW, TP ₹1400): Stock fell 10% without fundamental reasons. FY26 may see 1% organic de-growth, but growth is expected to rebound 12–16% in FY27/28. Revenue/EPS cut 4–6%, target multiple lowered to 36x. Patience required for returns.
- Sun Pharma (CITI, Buy, TP ₹2180): MFN overhang eased with Pfizer deal; Medicare and commercial drug prices stable. Tariff risks for patented drugs abated. Key geopolitical and regulatory concerns now substantially reduced, supporting Sun Pharma’s outlook.
- Shriram Finance (Morgan Stanley, OW, TP ₹785): Potential majority stake sale denied by company. F1Q26 asset quality stronger than feared. EPS CAGR 15% (F2025–27e), F2027e ROE 16.5%. Stock attractively valued at 10.7x P/E, 1.6x tangible P/B.
- CMS Info (Jefferies, Buy, TP ₹445): FY26 growth trends softer; normalization expected FY27. Core revenue CAGR ~12% (FY25–30), stable margins. ATM expansion and retail cash gains key. EPS estimates cut 7–10%. M&A evaluation underway.
- Titan (CLSA, TP ₹4394): Bluestone, a digital-first jewellery player, competes with Titan’s Caratlane. Bluestone has 292 stores; Caratlane 331. Caratlane’s EBIT margin 6.6% vs Bluestone 3.2%. Advantages: in-house manufacturing, design focus, and proprietary tech stack.
Mainboard/SME IPO Listing on October 1, 2025
- Jain Resource Recycling
- Epack Prefab Technologies
- BMW Ventures
- Justo Realfintech
- Systematic Industries
- Solvex Edibles
- Praruh Technologies
- Gurunanak Agriculture India
Stocks in F&O ban
- Sammaan Capital
Written by Abhishek Singh
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