Nifty 50 opened at 24,691.95, up by 57 points (0.02%). Bank Nifty opened at 54,705.50, increased by 244 points (0.13%). Sensex opened at 80,541.77, jumped 200 points (0.31%). GIFT Nifty is currently trading at 24,705.00.
Global index as of 30 September 2025
- DOW 30 closed at 46,316.07, up by 68.78 points (0.15%).
- S&P 500 closed at 6,661.21, up by 17.51 points (0.26%).
- NASDAQ increased by 107.09 points (0.48%), closing at 22,591.15.
- FTSE 100 increased by 15.01 points (0.16%) to settle at 9,299.84.
- DAX increased by 5.59 points (0.024%), ending at 23,745.06.
- NIKKEI 225 decreased 20.27 points (-0.045%) to trade at 45,023.48.
Commodities Update
- Gold: Currently trading at Rs. 115,448 per 10 grams.
- Silver: zoomed by 0.43%, now at Rs 143,725 per kilo.
- Crude Oil: Prices have gone down by 0.12%, reaching 66.515, compared to the previous close of 66.495.
Global events/updates
- China’s manufacturing sector showed signs of improvement in September. The official PMI rose to 49.8, still in contraction but the strongest since March and slightly better than expected. Meanwhile, a private survey by RatingDog posted a stronger 51.2, signaling expansion and beating forecasts. Together, these readings suggest improving momentum, though challenges remain.
- Asia-Pacific markets traded mixed as China’s manufacturing sector contracted for the sixth month in a row, keeping investor sentiment cautious. Attention now shifts to the Reserve Bank of Australia, which is widely expected to keep its key rate steady at 3.6%. Meanwhile, U.S. markets ended higher overnight, offering some support to regional sentiment.
- A potential U.S. government shutdown is raising concerns, as it could complicate the Federal Reserve’s policy decisions. At the same time, markets saw a boost with Nvidia lifting indexes higher. Tech headlines dominated, with Electronic Arts set for a $55 billion acquisition and Anthropic unveiling a new AI model. Intel, however, looks overbought and faces pullback risks.
- Most experts expect the RBI to keep interest rates unchanged in its October 1 policy, with a neutral stance maintained. Views are split on the terminal rate, but many see the rate-cut cycle ending by October 2025. Growth forecasts may stay near 6.5%, while inflation is likely to be revised lower. Markets also await measures for exporters, MSMEs, and NBFC reforms.
- India will hold trade talks with Brazil on October 7 to explore ways to boost bilateral commerce and expand engagement with MERCOSUR. With slowing demand in developed economies, India is looking at Latin America as a key growth market. Discussions may cover widening the current trade pact or moving toward a full-fledged FTA, offering greater market access.
Stocks to watch
- Bharat Electronics (BEL): Secured fresh orders worth ₹1,092 crore for EW system upgrades, defence networks, tank subsystems, TR modules, communication equipment, EVMs, and spares since September 16.
- Mahindra & Mahindra: Signed an agreement with TERA to sell its entire stake in subsidiary Sampo Rosenlew Oy for ₹52 crore. Post-transaction, SAMPO will no longer be a wholly owned subsidiary.
- Blue Dart Express: Announced a shipment price hike of 9%–12%, depending on customer profile and product type. The new rates will take effect from January 1, 2026.
- Indian Railway Finance Corporation (IRFC): Signed loan agreements to fund power projects — up to ₹5,929 crore for Haryana Power’s 800 MW Yamunanagar unit and up to ₹10,560 crore for MAHAGENCO’s 2×660 MW Koradi project in Nagpur.
- Bank of India: Elevated Raghvendra Kumar, General Manager, to Chief General Manager.
- Tata Motors: Moody’s revised the outlook on JLR from positive to negative due to a cyberattack but affirmed its Ba1 rating.
- Mazagon Dock Shipbuilders: Announced a final dividend of ₹2.71 per share for FY25.
- JSW Infrastructure: Subsidiary Ennore Coal Terminal received a Show Cause Notice demanding ₹96.58 crore in GST, plus interest and penalties.
- Godrej Agrovet: Received an administrative warning letter from SEBI for delayed disclosure of a shareholding change in Astec Lifescience.
- Thomas Cook India: Signed an MoU with the Ministry of Tourism to enhance travel and destination experiences across India.
- Indostar Capital Finance: Approved sale of part of its commercial vehicle loan book worth ₹309.6 crore dues to Phoenix ARC for up to ₹220.3 crore, to reduce stressed assets.
- Tata Steel: Signed a non-binding agreement with the Dutch government and local authorities for the first phase of transition to low-CO2 steel production at its IJmuiden site.
- Bombay Dyeing: Vinay Singh Kushwaha resigned as COO – Bombay Realty, effective September 30, due to personal family reasons.
- Concord Enviro Systems: Its subsidiary, Rochem Separation Systems, acquired 100% of Pathak Utility, making it a step-down subsidiary.
- Allcargo Gati: Announced an average 10.2% price hike for express distribution services effective January 1, 2026, to manage rising costs and support investments in infrastructure and technology.
- BEML: Fixed November 3 as the record date for its upcoming stock split.
- Globus Spirits: Launched TERAI India Craft Vodka, the world’s first premium vodka under its brand.
- Brand Concepts: Secured exclusive rights to sell Superdry travel gear and handbags in India.
- Bharat Seats: Promoter group transferred 16.38% equity shares to Rohit Relan Family Trust for succession planning; SEBI exempted the Trust from making an open offer.
- PN Gadgil: Opened a LiteStyle shop-in-shop outlet in Nagpur, focused on lightweight jewellery.
- Zaggle Prepaid: Approved buying 1.3 lakh shares and investing up to ₹25 crore in Greenedge Enterprises.
Bulk and Block Deals
- Aether Industries: Amansa Holdings bought 12.8 lakh shares (0.96%) at ₹735 each for ₹94.27 crore, while Goldman Sachs India EQ Portfolio sold 11.51 lakh shares (0.86%) at ₹735.01 each, worth ₹84.6 crore.
- Bharat Forge / DCX Systems: Motilal Oswal MF purchased 31.02 lakh shares (0.6%) in Bharat Forge at ₹1,217.32, investing ₹377.7 crore, and sold 7.37 lakh shares in DCX Systems at ₹242.62, raising ₹17.88 crore.
- Sammaan Capital: ICICI Prudential MF acquired 43.47 lakh shares (0.52%) at ₹151.95 each, totaling ₹66.05 crore.
- Hero MotoCorp: BNP Paribas Financial Markets picked up 19.52 lakh shares (0.97%) at ₹5,302.91 each, amounting to ₹1,035.16 crore.
- IndusInd Bank: BNP Paribas Financial Markets bought 1.06 crore shares (1.36%) at ₹723.60 each for ₹771.12 crore.
- Max Healthcare Institute: BNP Paribas Financial Markets offloaded 79.37 lakh shares (0.81%) at ₹1,111.66 each, worth ₹882.4 crore.
- AAA Technologies: Promoter Ruchi Anjay Agarwal sold 4 lakh shares at ₹78.60 each for ₹3.14 crore to Craft Emerging Market Fund PCC – Citadel Capital Fund.
Brokerage Recommendations
- Tata Motors (Nomura): Neutral rating, TP ₹732. PVs outperform industry on compact SUV demand post-GST cut; CV growth expected. JLR demand remains stable across markets, showing no major disruptions.
- Coforge (CLSA): Initiated outperform, TP ₹2,346. Strong leadership, ESOP-driven incentives, and domain expertise in BFSI and travel verticals. Consulting mindset drives order book, revenue, and earnings. Forecast FY26–28 CAGR: revenue 15%, EBIT 16%, EPS 22%.
- Lupin (Morgan Stanley): Equal-weight, TP ₹2,096. VISUfarma deal boosts ophthalmology growth, strengthens Europe operations, and global specialty franchise. Valued at 11.7x 2025e EV/EBITDA, funded by internal cash. Seen as a strategic expansion move.
- Mphasis (Morgan Stanley): Overweight, TP ₹3,625. Expect stock to outperform index in 60 days. Strong deal wins, improving growth trends, and compelling valuations reinforce positive outlook, with potential for sustained momentum ahead.
- Welspun Living (Jefferies): Hold, TP cut to ₹120 from ₹130. US tariff penalties weigh heavily, driving profitability washout and a 15–20% revenue drop. Recovery depends on tariff withdrawal; near-term challenges remain significant.
- Anant Raj (Nomura): Buy, TP ₹700. Early data center entry with lower capex costs draws investor interest. Real estate visibility is strong for 8–10 years. Risks include competition and technical challenges, though growth prospects remain attractive.
Mainboard/SME IPO Listing on September 30
- Solarworld Energy Solutions
- Jaro Institute of Technology Management and Research
- Anand Rathi Share and Stock Brokers
- Seshaasai Technologies
- True Colors
- Ecoline Exim
- Aptus Pharma
- Matrix Geo Solutions
- Bharatrohan Airborne Innovations
- Stocks in F&O ban
- RBL Bank
- Sammaan Capital
Written by Abhishek Singh
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