Nifty 50 opened at 24,818.55, down by 1.75 points (-0.033%). Bank Nifty opened at 54,797.90, decreased by 178.3 points (-0.3%). Sensex opened at 80,956.01, shrank 203 points (-0.29%). GIFT Nifty is currently trading at 24,898.00.
Global index as of 26 September 2025
- DOW 30 closed at 45,947.32, down by 173.96 points (-0.38%).
- S&P 500 closed at 6,604.72, plummeted by 33.25 points (-0.50%).
- NASDAQ decreased by 113.16 points (-0.50%), closing at 22,384.70.
- FTSE 100 decreased by 36.45 points (-0.39%) to settle at 9,213.98.
- DAX decreased by 131.98 points (-0.56%), ending at 23,534.83.
- NIKKEI 225 decreased 125.14 points (-0.27%) to trade at 45,629.79.
Commodities Update
- Gold: Currently trading at Rs. 112,569 per 10 grams.
- Silver: decline by 0.23%, now at Rs 136,730 per kilo.
- Crude Oil: Prices have gained by 0.01%, reaching 68.645, compared to the previous close of 68.635.
Global events/updates
- The U.S. plans to impose a 100% tariff on branded and patented drugs from October 1 unless companies manufacture locally. President Trump clarified that firms building plants in the U.S., including projects already under construction, will be exempt. The move aims to boost domestic production, reduce reliance on imports, and push global pharma companies to invest in U.S. facilities.
- President Trump announced a 25% tariff on imported heavy trucks effective October 1, alongside broader tariff measures. These include 100% duties on pharmaceutical drugs, 50% on kitchen cabinets, and 30% on upholstered furniture.
- The move underscores his aggressive trade stance, aiming to protect U.S. manufacturing, encourage local production, and reduce dependence on foreign imports across critical and consumer-focused sectors.
- President Trump has approved a proposed deal to keep TikTok operational in the U.S. through an executive order. The arrangement, pending China’s approval, creates a joint venture with ByteDance retaining under 20% ownership.
- Vice President JD Vance said TikTok’s U.S. business is valued at $14 billion, though the purchase price wasn’t disclosed, highlighting strategic compromises in the agreement.
- Starbucks unveiled a $1 billion restructuring plan that will see store closures and additional layoffs, impacting around 900 non-retail employees. This marks the second round of job cuts under CEO Brian Niccol, following 1,100 corporate layoffs earlier this year. The move reflects efforts to streamline operations, cut costs, and adapt to evolving consumer demand in a challenging retail environment.
- Takeover talk around BP has faded as the oil giant’s shares climbed over 32% since April. A leadership shake-up and strategic reset have boosted investor confidence. However, analysts caution that BP’s heavy debt could become a risk if oil prices weaken, highlighting the balance between its recent momentum and underlying financial challenges.
Stocks to watch
- RITES: RITES has secured a Letter of Award from Talis Logistics, South Africa, to supply and commission overhauled Cape gauge ALCO diesel-electric locomotives. The contract is valued at $18 million.
- Ceigall India: CIL–JSPPPL, a joint venture between Ceigall India (80%) and JSP Projects (20%), has won a contract worth ₹509.2 crore from GMADA for constructing internal roads in Aerotropolis, SAS Nagar, across Pocket B, C, and D.
- Exide Industries: Exide Industries invested ₹80 crore in its wholly-owned arm, Exide Energy Solutions, to support the Bengaluru greenfield plant for lithium-ion battery cell and module production. The total investment in the subsidiary now stands at ₹3,882.23 crore, with no change in shareholding.
- Tata Motors (Jaguar Land Rover): Jaguar Land Rover announced progress in recovering from its recent cyber incident. Parts of its digital systems are operational, and the Global Parts Logistics Centre has resumed full operations as recovery efforts continue.
- Nuvoco Vistas Corporation: The company received a show cause notice from CGST & Central Excise, Raipur, alleging false invoicing by C&F agents from FY20 to FY25. Authorities have demanded ₹112.48 crore in tax and penalties.
- Bharat Heavy Electricals (BHEL): DIPAM has rejected BHEL’s proposal to form a joint venture with REC Power Development and Consultancy.
- Supreme Petrochem: Supreme Petrochem has commissioned the first line of its ABS project at the Amdoshi plant, Maharashtra, with a capacity of 70,000 TPA. The project was developed with technical support from Versalis, Italy.
- Amber Enterprises India: Amber Enterprises’ subsidiary, IL JIN Electronics, has raised ₹550 crore from investors including Singularity AMC, Axis New Opportunities AIF, Motilal Oswal, and Avendus, among others. The funds came against 8.45 lakh compulsorily convertible preference shares.
- Ventive Hospitality: Ventive Hospitality will acquire a 76% stake in Soham Leisure Ventures, marking its entry into Goa. Soham owns the Hilton Goa Resort with 104 rooms and a land parcel in the region.
- Allcargo Logistics: The company aims to drive long-term value through digital execution and ROI-focused investments. As per the merged financials, it expects revenue and EBITDA to grow at a CAGR of 12% and 21%, respectively, by FY30.
- NTPC: Commercial operations have started for its 167 MW project in Rajasthan.
- JSW Energy: Its subsidiary has filed an appeal with the Supreme Court challenging the Appellate Tribunal for Electricity’s order.
- Veranda Learning: The company transferred its entire vocational segment to SNVA EduTech in exchange for a 50% stake. The new entity targets over Rs 250 crore in revenue by FY26 and may pursue a separate public listing in the future.
- Capital India Finance: Keshav Porwal has been re-appointed as managing director for three years, starting November 27. The company also approved raising funds through debt securities.
- Monarch Networth Capital: SEBI has granted a certificate of registration for the ‘Monarch India Growth Fund’ as a Category I foreign portfolio investor.
- IIFL Finance: The board approved increasing the issue size for a private placement up to Rs 500 crore.
Bulk and Block Deals
- Polycab India: Promoters, including Ajay, Girdhari, Ramesh, and Inder Jaisinghani, sold 23.3 lakh shares (1.5% stake) at ₹7,458 per share, raising ₹1,739.7 crore. JP Morgan Fund ICVC emerged as the largest buyer, acquiring 14.84 lakh shares for ₹1,107 crore, followed by Morgan Stanley Asia Singapore (3.64 lakh shares for ₹272 crore) and Kotak Mahindra Life Insurance (1 lakh shares for ₹75 crore).
Other investors such as Tata Equity Plus Absolute Returns Fund, Societe Generale, ASK Absolute Return Fund, HDFC Life, and Viridian Asia Opportunities Master Fund also participated.
- GRM Overseas: Promoters Atul and Mamta Garg sold 16.25 lakh shares (2.6% stake) at ₹357 per share, worth ₹58.01 crore. Buyers included Nikhil Vora, RG Family Trust, and Singularity Equity Fund I.
- Awfis Space Solutions: QRG Investments and Holdings divested 3.67 lakh shares (0.5% stake) in Awfis Space Solutions at ₹591.17 per share, amounting to ₹21.72 crore. As of June 2025, QRG still holds a 5.07% stake.
- Dev Accelerator: Amit Ranchhodlal Chokshi increased his stake in Dev Accelerator by purchasing 7.5 lakh shares (0.8% stake) at ₹56.03 per share, investing ₹4.2 crore.
Brokerage Recommendations
- Titan – Nomura
Nomura initiated a Buy on Titan with a target of ₹4,275. Despite near-term Q2 weakness, steady demand, stronger organized growth, and margin stability support recovery from H2. The structural growth story remains robust versus peers. - ICICI Bank – Citi
Citi maintained Buy on ICICI Bank with a ₹1,700 target. Focused profitable growth, stable asset quality, and disciplined deposit strategy offset NIM pressure. SME traction moderates, but festive-driven opex and balanced lending sustain long-term stability. - HAL – Nomura
Nomura reiterated Buy on HAL with a ₹6,100 target, citing a robust ₹2.45 lakh crore order book and GE engine supply commencement. LCA Mk1A aircraft deliveries are expected to streamline, supporting long-term growth momentum. - APL Apollo – UBS
UBS maintained Buy on APL Apollo with a ₹2,000 target. Its ‘SG Premium’ brand strategy strengthens dealer networks, narrows price gaps, and challenges peers. Q2 volumes may grow 12% YoY, with profitability surprising positively. - Aegis Logistics – JPMorgan
JPMorgan reiterated Overweight on Aegis Logistics with an ₹895 target. Rising LPG imports and GAIL’s pipeline capacity expansion enhance growth prospects. The underappreciated oil and gas logistics story offers significant upside with strong industry demand tailwinds. - Godrej Consumer – JPMorgan
JPMorgan maintained Overweight on Godrej Consumer with a ₹1,365 target. Q2 could be pressured by GST trade disruptions and palm oil costs. Indonesia faces macro challenges, but capital allocation and margin recovery remain priorities. - Jubilant Food – JPMorgan
JPMorgan kept Neutral on Jubilant Food with a ₹745 target. Revenue growth remains the focus, balanced by margin improvement. Tech investments and Popeyes’ faster scale-up strengthen long-term growth prospects, though near-term profitability remains under watch.
Mainboard/SME IPO Listing on September 26
- Saatvik Green Energy
- GK Energy
- Siddhi Cotspin
Stocks in F&O ban
- RBL Bank
- Sammaan Capital
Stocks Trade Ex-Dividend
- Spright Agro
- West Leisure Resorts
- Caspian Corporate Services
Stocks Trade Ex-Date for Split and Bonus
- Chandra Prabhu International
- Nazara Technologies
- PVV Infra
- R M Drip and Sprinkler Systems
Written by Abhishek Singh
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