Nifty 50 opened at 25,079.75, down by 28 points (-0.07%). Bank Nifty opened at 56,098.75 decreased by 146 points (0.056%). Sensex opened at 81,883.95, down 27 points (-0.03%). GIFT Nifty is currently trading at 25,223.00.
Global index as of October 8, 2025
- DOW 30 closed at 46,602.98, down by 91.99 points (0.20%).
- S&P 500 closed at 6,714.59, down by 25.69 points (0.38%).
- NASDAQ decreased by 153.30 points (0.67%), closing at 22,788.36.
- FTSE 100 increased by 4.44 points (0.047%) to settle at 9,483.58.
- DAX increased by 7.49 points (0.031%), ending at 24,385.78.
- NIKKEI 225 increased 14.41 points (0.030%) to trade at 47,965.29.
Commodities Update
- Gold: Currently trading at Rs. 122,000 per 10 grams.
- Silver: up by 0.80%, now at Rs 147,000 per kilo.
- Crude Oil: Prices jumped by 0.43%, reaching 65.705, compared to the previous close.
Global events/updates
- Global M&A activity is surging as companies pursue large-scale deals, signaling renewed corporate confidence. Executives appear undeterred by geopolitical uncertainties, focusing instead on growth opportunities through consolidation. Optimism is further lifted by expectations of interest rate cuts, which could lower financing costs and accelerate deal momentum across sectors in the coming quarters.
- Nvidia CEO Jensen Huang highlighted that the new deal with OpenAI marks their first direct partnership. In an interview with CNBC’s Jim Cramer, he explained that OpenAI will now purchase directly from Nvidia instead of through intermediaries. This move strengthens their collaboration and shows Nvidia’s deeper involvement in powering OpenAI’s advanced AI developments.
- The RBI has proposed shifting from an incurred-loss to an expected credit loss (ECL) framework to strengthen credit risk management and align with global standards. The new rules aim to improve transparency and comparability across banks. Though requiring one-time provisioning, the impact on capital will be minimal, with a smooth five-year transition starting April 2027.
- US markets closed lower on Tuesday, weighed by declines in big tech stocks and worries over the ongoing government shutdown. The Nasdaq fell 0.7%, dragged by Oracle and Tesla shares. Investors turned cautious as gold hit a record $4,000 and the dollar strengthened. Focus now shifts to the Fed’s policy meeting minutes for rate clues.
- Oil prices inched higher as traders assessed mixed US inventory data and rising global supply. Brent neared $66 a barrel, while WTI traded above $62. OPEC+ and US producers continue increasing output, raising oversupply concerns. Ukraine’s drone attacks on Russian oil sites disrupted processing but boosted exports, keeping global market sentiment cautious.
Stocks to watch
- Tata Motors: JLR’s Q2 performance weakened, with wholesales falling 24.2% and retail sales declining 17.1% year-on-year, reflecting softer global demand and supply challenges.
- Container Corp: Signed an agreement with Ultratech Cement to transport bulk cement using specialised tank containers, enhancing logistics efficiency and expanding service capabilities.
- Dish TV India: Reported that the Aurangabad tax department has appealed to the Bombay High Court against a previous ruling favoring the company on CENVAT credit, potentially extending the legal dispute.
- Anant Raj: Opened a Qualified Institutional Placement (QIP) and set the floor price at ₹695.83 per share, aiming to raise funds for growth and ongoing projects.
- Utkarsh Small Finance Bank: Secured in-principle approvals from NSE and BSE for its proposed rights issue, marking a key step toward expanding its capital base for future business growth.
- Saatvik Green Energy: Won solar PV module supply orders worth ₹488 crore from major independent power producers, along with additional orders totaling ₹219.62 crore from three more IPPs, strengthening its renewable energy portfolio.
- IRB Infrastructure Developers: Reported an 11% year-on-year increase in September gross toll collection, reaching ₹556.7 crore, driven by steady traffic growth across key highway projects.
- Titan Company: Titan reported strong growth across segments in Q2, with domestic sales up 18%, international business up 86%, and jewellery up 19%. The company added 55 new stores, expanding its retail network to 3,377 outlets.
- Godrej Consumer Products: One-third of GCPL’s portfolio is now taxed at 5%, aiding volume-led growth. While home care shows strong momentum, personal care and Indonesia may see mild declines. GAUM continues double-digit growth despite near-term margin pressure.
- Keystone Realtors: Keystone Realtors posted 9% YoY growth in pre-sales at ₹763 crore and similar growth in collections to ₹601 crore. It launched one project in Q2FY26 with a GDV of ₹949 crore.
- Lodha Developers: Lodha reported 7% growth in pre-sales to ₹4,570 crore and 13% rise in collections to ₹3,480 crore. The company added a new project in MMR region with ₹2,300 crore GDV.
- SH Kelkar and Company: SH Kelkar reported a 13% rise in H1FY26 consolidated revenue to ₹1,140 crore, while net debt stood at ₹698 crore as of September 2025, reflecting steady business performance and financial discipline.
- Shringar House of Mangalsutra: The company’s Q1 profit surged 67.7% YoY to ₹28.5 crore, revenue rose 22.7% to ₹332.6 crore, and EBITDA jumped 63%, with margins expanding 310 bps to 12.4%, indicating strong operational performance.
- Lloyds Metals and Energy: The Competition Commission of India approved Lloyds Metals’ acquisition of a 49.99% stake in Thriveni Pellets, strengthening its position in the iron ore value chain and expanding its strategic business footprint.
- Associated Alcohols & Breweries: The company began manufacturing and maturing malt spirits at its Barwaha facility after receiving the SL-1 license from the Excise Department, marking a key step toward expanding its premium product portfolio.
- KPIT Technologies: KPIT Technologies, via its UK subsidiary, acquired an additional 62.9% stake in N-Dream for EUR 16.35 million, raising total ownership to 88.9%, making it a step-down subsidiary to strengthen digital capabilities.
- Nila Infrastructures: Nila Infrastructures received a Letter of Intent from Ahmedabad Municipal Corporation for a slum rehabilitation project valued at ₹105.02 crore, reinforcing its presence in affordable housing and urban redevelopment initiatives.
Also Read:Rubicon Research Limited IPO: From GMP and issue details to financials; Here’s what you need to know
Bulk and Block Deals
- Shaily Engineering Plastics: Lighthouse India Fund III offloaded 13.33 lakh shares, a 2.9% stake, in Shaily at ₹2,134 per share for ₹284.5 crore. The stake was acquired by 10 major investors, including Motilal Oswal MF, ADIA, and BofA Securities Europe SA.
- Eimco Elecon (India): Ace investor Vijay Kedia’s firm, Kedia Securities, purchased 57,441 shares, nearly a 1% stake, in Eimco Elecon at ₹1,906.71 per share, valuing the transaction at ₹10.95 crore, signaling confidence in the company’s growth potential.
Brokerage Recommendations
- Dabur (UBS – Sell, TP ₹500): Q2 FY26 revenue grew in mid-single digits, in line when excluding GST’s transitory impact. Beverages remain weak, and international growth has slowed. Overall performance is broadly in line, but persistent segmental challenges support a sell rating at ₹500 target.
- Titan (JP Morgan – Neutral, TP ₹3,500): Festive demand and attractive offers drove healthy jewellery sales, with gold price-led revenue growth. Recent revenue beat could trigger positive share price movement, partially reversing underperformance. Investors should monitor upcoming earnings for margin delivery and management’s growth outlook for the next catalyst.
- Petronet LNG (Investec – Buy, TP ₹400): Despite short-term weakness, long-term prospects remain strong. Global LNG supply easing could boost demand. Petronet’s scale, low-cost structure, and capacity expansions at Dahej and Kochi position it well. Recent correction offers an attractive entry point, with potential for re-rating as volumes recover.
- PNB (UBS – Neutral, TP ₹120): Return ratios are expected to remain low with moderate key metrics. Business growth should be steady, but near-term NIMs face pressure. Credit costs may rise from FY25 levels, resulting in declining ROA, supporting a neutral stance at ₹120 target.
- Canara Bank (UBS – Buy, TP ₹150): Steady earnings profile with stable business metrics. ROA and ROE projected at 1% and 16% for FY26-28. Loan growth remains steady with limited NIM pressure. Controlled credit costs and resilient performance justify a buy rating with a ₹150 target.
- Union Bank (UBS – Neutral, TP ₹150): Growth outlook is modest, with loan growth likely slower than peers. Margin profile expected to remain steady. Credit costs may be stable, with ROA around 1% versus 1.2% in FY25, supporting a neutral rating at ₹150 target.
- IGL (UBS – Buy, TP ₹250): The end of a tax overhang acts as a near-term EBITDA tailwind of ~20%. Pipeline tariff reforms are expected to further benefit the company. These factors support a buy rating with a ₹250 target, highlighting strong growth and regulatory tailwinds.
- Lodha (Jefferies – Buy, TP ₹1,625): Lodha is well-positioned to benefit from Mumbai’s $80bn+ infrastructure upgrade, including the 2nd international airport. Its 4,500-acre land bank and geographic expansion support a 20% presales CAGR. Strong long-term potential and recent undervaluation make it an attractive entry point.
Mainboard/SME IPO Listing in October 8, 2025
- Om Freight Forwarders
- Advance Agrolife
- Sunsky Logistics
- Infinity Infoway
- Valplast Technologies
- Zelio E Mobility
- Chiraharit
- Sheel Biotech
- B.A.G. Convergence
- Munish Forge
Upcoming Events for Today
- India Mobile Congress 2025, New Delhi
- Vedanta demerger Case: Final hearing in NCLT
Written by Abhishek Singh
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