Nifty 50 opened at 25,744.75 down by 18.60 points (0.072%). Bank Nifty opened at 57,966.65 decreased by 134.80 points (0.23%). Sensex opened at 84,000.64, up by 21.12 points (0.27%). GIFT Nifty is currently trading at 25,876.50.
Global index as of November 04, 2025
- DOW 30 closed at 47,336.68, down by 226.19 points (0.48%).
- S&P 500 closed at 6,851.97, up by 11.77 points (0.17%).
- NASDAQ increased by 109.77 points (0.46%), closing at 23,834.72.
- FTSE 100 decreased by 15.88 points (0.16%) to settle at 9,701.37.
- DAX increased by 174.11 points (0.73%), ending at 24,132.41.
- NIKKEI 225 decreased 50.20 points (0.096%) to trade at 52,361.14.
Commodities Update
- Gold: Currently trading at Rs. 120,829 per 10 grams.
- Silver: down by 0.71%, now at Rs 146,657 per kilo.
- Crude Oil: Prices down by 0.03%, reaching USD 64.625, compared to the previous close.
Global events/updates
- Asian markets traded mixed, moving differently from Wall Street’s rally led by tech stocks. Amazon’s $38 billion deal with OpenAI boosted tech shares like Nvidia, which gained approval to export chips to the UAE. However, investors stayed cautious, awaiting the Reserve Bank of Australia’s policy decision, leading to varied performance across Asia-Pacific markets.
- Amazon’s stock hit a record high after OpenAI signed a $38 billion deal with AWS. The partnership lets OpenAI use Nvidia’s powerful GPUs and marks a shift away from Microsoft, its earlier exclusive cloud partner. This deal strengthens AWS’s AI position and gives OpenAI flexibility to scale its infrastructure through 2026 and beyond.
- Starbucks is forming a joint venture with Boyu Capital to manage its China operations, keeping a 40% stake. The move aims to revive its struggling business in China, where sales have dropped due to pandemic-related restrictions and growing competition. The partnership is expected to help Starbucks strengthen its local presence and boost growth.
- South Korea’s inflation rose to 2.4% in October, up from 2.1% in September, driven by a weaker won that made energy and food costlier. Core inflation also climbed to 2.2%. The rise may push the Bank of Korea to delay rate cuts as it balances inflation risks, housing market gains, and slowing economic growth.
- US factory activity contracted for the eighth straight month in October, with the ISM manufacturing index at 48.7. Weak demand and production cuts led to job losses, while trade policy uncertainty hurt sentiment. However, input cost pressures eased as raw material prices fell, suggesting inflation relief. Most industries, including textiles and furniture, reported declines.
Stocks to watch
- Vodafone Idea: The company clarified that its board isn’t considering any proposal requiring disclosure, refuting reports that PE firm TGH plans to invest up to $6 billion (around ₹50,000 crore).
- Zydus Lifesciences: The board will meet on November 6 to consider raising up to ₹5,000 crore through equity issuance.
- Gujarat State Petronet: The company has appointed Manoj Kumar Das as its new Chairman and Managing Director.
- Nuvoco Vistas: Approved a share purchase agreement to acquire Algebra Endeavor’s securities from JSW Cement and Alpha Alternatives Holdings.
- UGRO Capital: The board will meet on November 7 to consider raising funds via non-convertible debentures (NCDs).
- Mahindra Lifespaces: Received a favorable order as litigation filed against its subsidiary by Sanjay Chhabra has been dismissed, with the final order dated September 9, 2025.
- Sagility: Appointed Abhishek Kayan as Deputy CFO following the resignation of Group CFO Sarvabhouman Doraiswamy Srinivasan.
- Bharti Airtel Q2: Profit surged 89% YoY to ₹6,791.7 crore; revenue up 25.7% to ₹52,145.4 crore; EBITDA rose 35.3% to ₹29,561.4 crore; ARPU improved 9.8% to ₹256; margin expanded to 56.7%; board approved 5% stake acquisition in Indus Towers.
- Titan Company Q2: Profit rose 59.1% YoY to ₹1,120 crore; revenue grew 28.8% to ₹18,725 crore; EBITDA jumped 51.7% to ₹1,875 crore; EBITDA margin expanded to 10.01%, supported by strong jewelry and watches performance.
- Power Grid Corporation Q2: Profit declined 6% YoY to ₹3,566 crore, though revenue rose 1.8% to ₹11,476 crore. The board announced an interim dividend of ₹4.5 per share.
- Bharti Hexacom Q2: Profit jumped 66.4% YoY to ₹421.2 crore; revenue rose 10.5% to ₹2,317.3 crore, driven by higher data usage and steady subscriber growth.
- SJS Enterprises Q2: Profit surged 48.5% YoY to ₹43.3 crore; revenue grew 25.4% to ₹241.8 crore, supported by strong demand for decorative and automotive products.
- Godfrey Phillips India Q2: Profit increased 18.7% YoY to ₹305 crore, while revenue fell 5.2% to ₹1,289 crore, reflecting lower sales volumes but improved margins.
- Timken India Q2: Profit dipped 0.5% YoY to ₹89.5 crore; revenue rose 2.7% to ₹773 crore, showing stable performance amid weak industrial demand.
- 3M India Q2: Profit grew 43% YoY to ₹191.3 crore; revenue increased 14% to ₹1,266.5 crore, driven by higher demand in healthcare and industrial segments.
- Gallantt Ispat Q2: Profit surged 82% YoY to ₹88.9 crore; revenue rose 7.4% to ₹1,012.8 crore, supported by stronger steel demand and better operational efficiencies.
- JK Paper Q2: Profit declined 41.8% YoY to ₹74.8 crore, while revenue grew 3.9% to ₹1,748.5 crore, reflecting lower margins due to higher input costs.
- Niva Bupa Q2: Reported a loss of ₹35.3 crore versus a ₹13 crore profit last year. Gross premiums rose 3.7% to ₹1,843 crore, but underwriting loss widened sharply.
- Kirloskar Brothers Q2: Profit dropped 25.8% YoY to ₹71 crore; revenue dipped 0.8% to ₹1,027.7 crore, reflecting slower order execution.
- City Union Bank Q2: Profit increased 15.2% YoY to ₹328.6 crore; NII grew 14.4% to ₹666.5 crore; NPAs improved with gross NPA at 2.42% and net NPA at 0.9%.
- Gland Pharma Q2: Profit rose 12.3% YoY to ₹183.7 crore; revenue increased 5.8% to ₹1,486.9 crore, driven by steady growth in the US and India markets.
- Hitachi Energy India Q2: Profit surged fivefold to ₹264.4 crore; revenue grew 18% to ₹1,832.6 crore, reflecting strong demand for power equipment and grid solutions.
- TBO Tek Q2: Profit rose 12.4% YoY to ₹67.5 crore; revenue grew 25.9% to ₹567.5 crore, driven by strong growth in travel booking services.
- Hero MotoCorp October: Sales fell 6.4% YoY to 6.35 lakh units; domestic sales dropped 8% while exports rose 42.8% to 30,979 units.
- Cipla: Acquired 100% stake in Inzpera Healthsciences for ₹110.65 crore, making it a wholly owned subsidiary to strengthen its wellness portfolio.
- Lemon Tree Hotels: Opened its ninth hotel in Uttarakhand — Lemon Tree Hotel, Mall of Dehradun — with 98 rooms, managed by subsidiary Carnation Hotels.
- Zee Media Corporation: Appointed Raktimanu Das as Chief Executive Officer effective November 4, 2025.
- Info Edge India: Will invest ₹100 crore in its subsidiary Redstart Labs (India), which holds investments in various technology and internet-based companies.
Bulk and Block Deals
- Bharat Wire Ropes: NBFC Authum Investment & Infrastructure increased its stake by 2.6%, buying 18 lakh shares at ₹210 each for ₹37.8 crore. Seller Alpana Sanjay Dangi, who earlier held 7.61%, offloaded the shares in this transaction.
- Black Box: India Opportunities Growth Fund – Pinewood Strategy sold a total of 20 lakh shares at around ₹550 per share, raising about ₹110 crore. The sales were made in two tranches of 10.04 lakh and 9.95 lakh shares.
- Dredging Corporation of India: Invesco Mutual Fund purchased 1.52 lakh shares, equal to a 0.54% stake, at ₹851.7 per share for ₹13 crore, signaling confidence in the company’s growth prospects.
- Fineotex Chemical: Nippon Mutual Fund sold 29.58 lakh shares at ₹33.2 per share, amounting to ₹9.82 crore, reducing its stake in the specialty chemical manufacturer.
- Exhicon Events Media Solutions: India Equity Fund sold 2.49 lakh shares, or a 1.89% stake, at ₹447.15 per share for ₹11.15 crore, cutting its holding from 3.53% as of September 2025.
Brokerage Recommendations
- Nomura on Gland Pharma: Nomura maintained a Neutral rating with a ₹2,000 target, noting a weak Q2FY26. It cut FY26–28 earnings by up to 11%, but expects H2FY26 recovery driven by GLP-1 fill-finish, Cenexi volume growth, and new CDMO contracts.
- Morgan Stanley on Titan: Morgan Stanley kept an Overweight call with a ₹3,953 target after strong Q2 results. Revenue, EBITDA, and PAT beat estimates, with a 11.5% margin. Jewellery and watches performed well, aided by festive demand and strong Caratlane growth above 32%.
- Citi on Bharti Airtel: Citi reiterated a Buy rating with a ₹2,225 target, highlighting steady Q2 performance. India mobile and homes segments grew 2.5–4% QoQ, supported by higher ARPUs. Capex rose 32% QoQ but remained 3% lower YoY for H1.
- Citi on Tata Consumer: Citi maintained a Buy call with a ₹1,350 target after strong Q2 results. Consolidated revenue rose 18% YoY, driven by broad-based growth. India branded business grew 17%, international 15%, and unbranded 28%, with margins improving sequentially across segments.
Stocks Trade Ex-Dividend
- Coal India
- Bhansali Engineering Polymers
- Happiest Minds Technologies
- Mazagon Dock Shipbuilders
- RailTel Corporation of India
- Sundram Fasteners
Results Today
State Bank of India, Mahindra & Mahindra, Adani Enterprises, Adani Ports and Special Economic Zone, One 97 Communications Paytm, Indian Hotels Company, InterGlobe Aviation, One Mobikwik Systems, Aditya Birla Fashion and Retail, Alembic Pharmaceuticals, Berger Paints India, BlueStone Jewellery and Lifestyle, Chalet Hotels, Escorts Kubota, Home First Finance Company India, Metropolis Healthcare, Nuvama Wealth Management, and Suzlon Energy will release their quarterly earnings today.
Written by Abhishek Singh
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