Nifty 50 opened at 25,982.00, up by 35 points (0.19%). Bank Nifty opened at 58,316.25 increased by 129 points (0.19%). Sensex opened at 84,663.68, up by 273.62 points (0.27%). GIFT Nifty is currently trading at 26,173.50.
Global index as of October 29, 2025
- DOW 30 closed at 47,706.37, up by 161.78 points (0.34%).
- S&P 500 closed at 6,890.89, up by 15.73 points (0.23%).
- NASDAQ increased by 190.04 points (0.80%), closing at 23,827.49.
- FTSE 100 increased by 42.92 points (0.44%) to settle at 9,696.74.
- DAX decreased by 30.15 points (0.12%), ending at 24,278.63.
- NIKKEI 225 increased 1,030.64 points (2.05%) to trade at 51,249.82.
Commodities Update
- Gold: Currently trading at Rs. 119,888 per 10 grams.
- Silver: up by 0.48%, now at Rs 145,045 per kilo.
- Crude Oil: Prices down by 0.05%, reaching USD 63.695, compared to the previous close.
Global events/updates
- Trump signaled easing tensions with China, saying he may cut fentanyl-related tariffs by half ahead of his meeting with Xi Jinping in South Korea. He aims to discuss fentanyl control and U.S. farmers’ concerns. Trump praised ties with China, calling them “very good,” and hinted at progress toward a cooperative trade and drug control deal.
- The Fed is widely expected to cut interest rates by 0.25% this week, with more cuts likely ahead. However, opinions are divided 92% believe a cut will happen, but only 66% think it’s the right move, while 38% oppose it. Some experts even call for deeper cuts amid growing economic concerns and mixed policy views.
- Australia’s inflation rose to 3.2% in the third quarter, the highest in over a year and above economists’ 3% forecast. The jump from 2.1% in the previous quarter pushed inflation beyond the Reserve Bank of Australia’s 2–3% target range, raising concerns that the central bank may need to reconsider its rate-cutting plans.
- Nvidia is investing $1 billion in Nokia, buying new shares and boosting Nokia’s stock by 22%. Once a cellphone giant, Nokia now focuses on 5G network equipment. The deal highlights Nvidia’s growing interest in telecom technology, possibly integrating its AI and networking capabilities with Nokia’s 5G expertise for future connectivity and infrastructure advancements.
- Nvidia CEO Jensen Huang announced that its advanced Blackwell AI chips are now being produced in Arizona. Speaking at the GTC conference, he emphasized Nvidia’s vital role as a U.S. tech leader, addressing policymakers directly. The move highlights Nvidia’s push to strengthen domestic manufacturing amid export restrictions that have already cost the company billions.
Stocks to watch
- Shriram Finance: Allotted non-convertible debentures worth ₹750 crore through private placement to strengthen funding and improve liquidity. The move supports its lending and growth plans amid steady credit demand across vehicle finance and personal loan segments.
- SEAMEC: Signed a pact with the Directorate General of Shipping for a ₹1,000 crore investment to enhance maritime infrastructure and offshore capabilities, reinforcing its long-term growth plans in marine engineering and subsea services.
- Bosch: Warned of possible production disruptions due to supply issues with vendor Nexperia but assured efforts to minimize impact. The company is working closely with partners to sustain component availability and protect output levels.
- RBL Bank: Emirates NBD announced an open offer to acquire 26% stake at ₹280 per share, valuing the deal at ₹11,636 crore. The acquisition aims to boost NBD’s India presence and expand retail banking operations.
- PNB Housing Finance: CEO Girish Kousgi resigned, and regulatory approvals for appointing a new managing director and CEO are underway. The company continues business as usual while ensuring leadership continuity and smooth transition.
- Aegis Vopak: To acquire a 96% stake in Aegis Terminal (Pipavav) from Aegis Gas (LPG), consolidating control over storage assets and boosting its integrated logistics and energy terminal business.
- HUDCO: Signed MoUs with IIM Calcutta, Paradip Port Authority, and others worth over ₹5,500 crore to fund port development and infrastructure. Also partnered with Mumbai Port for developing a ‘Maritime Iconic Structure.’
- BPCL: Entered a collaboration with Oil India, Numaligarh Refinery, and FACT to pursue opportunities across refining, petrochemicals, and green energy, aligning with its long-term diversification and sustainability strategy.
- NTPC Green: Designated as a ‘Schedule A’ PSU by the government, strengthening its status among top state-run entities and enabling better operational autonomy in renewable energy expansion.
- MPS: Its subsidiary completed acquisition of remaining stakes in Liberate Learning Group, making it a wholly owned arm. The move consolidates MPS’s global presence in digital learning and e-content services.
- Shree Cement: Q2 profit jumped 303.6% YoY to ₹308.5 crore on higher revenue and improved margins. EBITDA rose 59%, showing strong operational recovery and cost efficiency gains.
- Jindal Steel: Q2 profit fell 25.9% YoY to ₹638 crore despite a 4% rise in revenue. Margins were pressured by higher costs, though management appointed a new CEO, Gautam Malhotra.
- Tata Capital: Q2 profit rose 17% to ₹1,128 crore; AUM surged 22% to ₹2.15 lakh crore. Strong loan growth and expanding retail presence boosted overall performance.
- Mahindra and Mahindra Financial Services: Q2 profit jumped 45% YoY to ₹566 crore, supported by higher interest income and strong rural demand. Loan book expansion remained robust with improving asset quality.
- Premier Energies: Q2 profit surged 71.6% to ₹353 crore; revenue grew 20%. Strong solar module demand and capacity expansion drove performance in renewable manufacturing.
- DCM Shriram: Q2 profit rose 151% YoY to ₹158 crore. Revenue up nearly 10%, showing strong operational turnaround.
- Ideaforge Technology: Q2 loss widened to ₹19.6 crore despite 10% revenue growth to ₹40.8 crore. The drone maker faces cost pressures as it scales production and R&D.
- Happiest Minds: Q2 profit rose 9% YoY to ₹54 crore; revenue up 10%. Continued demand for digital transformation and cloud solutions supported steady growth.
- Novartis India: Q2 profit increased 18.7% YoY to ₹24.2 crore on slightly higher revenue. The company maintained growth amid stable pharmaceutical demand.
- Sundram Fasteners: Q2 profit up 5.9% YoY to ₹151 crore; revenue up 2.4%. The auto component maker sustained steady performance despite muted industry demand.
- CreditAccess Grameen: Q2 profit fell 32% to ₹126 crore, even as NII rose 6%. Higher provisioning and costs weighed on bottom line, though loan growth remained steady.
- Star Health: Q2 profit dropped 50.7% YoY to ₹54.9 crore on higher commissions and claims, despite slight rise in premium income. Margin pressures persisted.
- Blue Dart Express: Q2 profit jumped 29.5% YoY to ₹81 crore with 7% revenue growth, driven by strong logistics demand and improved operational efficiencies.
- Go Digit General Insurance: Q2 profit rose 30% to ₹117 crore on strong premium growth. The insurer saw healthy underwriting and expansion across motor and health segments.
- Adani Total Gas: Q2 profit declined 11.9% YoY to ₹164 crore despite 20% revenue rise. Margins were impacted by cost inflation, though volume growth stayed positive.
- Adani Green Energy: Q2 profit grew 25% to ₹644 crore; revenue flat at ₹3,008 crore. Higher capacity utilization and cost control supported steady earnings growth.
- TVS Holdings: Q2 profit surged 59% YoY to ₹443 crore; revenue up 27%. Strong vehicle sales and financial services growth boosted performance.
- Signature Global India: Raised ₹875 crore via NCDs from IFC to fund mid-income and sustainable housing projects and reduce debt, reinforcing its development pipeline.
- Oil India: Partnered with BPCL and NRL to build the ₹1 lakh crore Ramayapatnam Greenfield Refinery & Petrochemical project and a ₹3,500 crore pipeline, boosting refining and logistics capacity.
- Cohance Lifesciences:
MD V. Prasada Raju resigned; CFO Himanshu Agarwal appointed as Whole-time Director and CFO for five years, ensuring leadership continuity amid transition. - ArisInfra Solutions: Through its subsidiary, partnered with Transcon Group and Amogaya Projects to unlock ₹12,000 crore in real estate value via integrated material supply and services.
- Swan Defence & Mazagon Dock: Signed an exclusive teaming agreement for collaboration in designing and constructing Landing Platform Docks for the Indian Navy, boosting indigenous defence manufacturing.
Bulk and Block Deals
- Aditya Birla Capital: Advent International’s investment arm, Jomei Investments, has fully exited Aditya Birla Capital by selling its entire 5.32 crore shares, or 2.04% stake, through two block deals at ₹308 per share, totaling ₹1,638.6 crore. The shares were picked up by 15 major institutional investors, including Goldman Sachs, Morgan Stanley, HDFC Life, ICICI Prudential, SBI Mutual Fund, and Norges Bank.
- Aarey Drugs & Pharmaceuticals: India Opportunities Growth Fund – Pinewood Strategy offloaded 1.53 lakh shares, representing a 0.54% stake, at ₹87.76 apiece for about ₹1.3 crore, trimming its position in the company.
- Tolins Tyres: BofA Securities Europe SA purchased 2.1 lakh shares, or roughly 0.53% of the company, at ₹189.99 per share, amounting to ₹3.98 crore, signaling growing institutional interest in the stock.
Brokerage Recommendations
- HSBC on Shree Cement: HSBC maintained a Hold rating with a ₹32,200 target, citing an earnings miss due to higher costs and expensive valuation. The firm appreciates Shree’s “Value over Volume” focus, which supports industry pricing discipline despite short-term margin pressure.
- Citi on Indus Towers: Citi kept a Buy call, raising its target to ₹500 from ₹460. Despite a mixed quarter, Vodafone Idea’s improving position lifts sentiment. The firm sees investor worries over shareholder payouts and Bharti’s rollout pace as overdone.
- Goldman Sachs on TVS Motor: Goldman Sachs maintained Neutral and raised its target to ₹3,750 from ₹3,520. Q2 was in line, with demand expected to remain strong in H2. Rural recovery is likely, though rare earth shortages could limit E2W output slightly.
- Jefferies on M&M Finance: Jefferies kept a Hold rating, lifting the target to ₹310 from ₹298. It expects steady asset quality and 14% AUM CAGR through FY28. Write-offs may stay elevated, limiting RoA expansion despite rate easing and reasonable valuation.
- Morgan Stanley on HDFC AMC: Morgan Stanley retained Equal-weight with a ₹5,400 target, noting SEBI’s revived proposal to rationalize expense ratios could hit profits by 23% of PBT. The final impact depends on industry feedback and possible cost pass-through to clients or distributors.
Stock in the F&O ban
- Sammaan Capital
Results Today
Larsen & Toubro, Coal India, Hindustan Petroleum Corporation, LIC Housing Finance, PB Fintech, APL Apollo Tubes, Apollo Pipes, Bharat Heavy Electricals, Brigade Enterprises, CG Power and Industrial Solutions, Fino Payments Bank, Five-Star Business Finance, PNGS Gargi Fashion Jewellery, HeidelbergCement India, Le Travenues Technology, Laxmi Organic Industries, Mahanagar Gas, NLC India, NMDC, NTPC Green Energy, Quess Corp, Radico Khaitan, RailTel Corporation of India, Steel Authority of India, Sanofi India, United Breweries, and Varun Beverages will announce their quarterly earnings on October 29.
Written by Abhishek Singh
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