Market Update : Week 1 November 2025
WELCOME TO THE WEEKLY BLOG ON INDIAN EQUITIES MARKETS
IMPORTANT CLOSE FOR THE WEEK GONE BY (Domestic Markets)
| Index | Close | Weekly Change |
|---|---|---|
| Nifty50 | 25,492.30 | -0.89% |
| Sensex | 83,216.28 | -0.86% |
| Nifty Bank | 57,876.80 | +0.17% |
| Nifty Realty | 450.90 | -1.25% |
| Nifty Pharma | 15,485.20 | +0.10% |
| Nifty Finance | 9,220.50 | -0.50% |
| India VIX | 12.56 | +3.37% |
| USD INR | 88.67 | +0.02% |
| Crude Oil | ₹5,302/bbl | -2.12% |
| Gold | ₹1,21,038/10g | -0.20% |
| Silver | ₹1,47,728/kg | -0.41% |
IMPORTANT CLOSE FOR THE WEEK GONE BY (International Markets)
| Index | Close | Weekly Change |
|---|---|---|
| Dow Jones | 47,156.00 | -1.20% |
| Nasdaq | 25,226.75 | -2.91% |
| FTSE UK | 9,678.50 | -0.53% |
| Nikkei 225 | 50,410 | +0.20% |
FII/DII DATA FOR THE WEEK (Rs. Crores)
Foreign Institutional Investors (FII): Net sellers of ₹3,263 crore
Domestic Institutional Investors (DII): Net buyers of ₹1,203 crore
MARKET OBSERVATIONS
After a spectacular October rally, November began with profit booking as major investors locked in gains. Large caps traded in a tight range, while midcaps and small caps experienced a 2-4% correction—a normal pause after the rally.
India VIX remained calm around 13-14, indicating subdued market fear despite selling pressure.
Global markets faced volatility due to ongoing U.S. Federal Reserve hawkish stance and fluctuating crude oil prices.
Sector rotation continued with investors favoring defensive and domestic-focused sectors such as PSU banks, metals, capital goods, and OMCs.
Domestic institutional investors and retail absorbed foreign selling, providing stability.
Global brokerages reaffirmed “OVERWEIGHT INDIA” calls, citing India’s solid GDP growth (~6.5%) amid moderate inflation (~7%).
SECTOR UPDATES WITH Q2 FY26 RESULTS AND OUTLOOK
AUTOMOBILES
| Trigger | Why it matters |
|---|---|
| Sustainability of demand momentum | October was strong, but the question is whether demand holds in Nov-Dec (wedding season, year-end) or if supply & inventory issues build up. |
| OEM/model launches | New model introductions (especially in affordable/small-car and EV segments) will trigger fresh bookings and inventory build-up. |
| Supply-chain & margin headwinds | With rising input costs (steel, semiconductors, batteries) and component shortages (rare earths for EVs), margins could get squeezed if demand weakens. |
| Rural income & financing availability | A large part of the recent growth is from rural markets and first-time buyers; if agricultural income or credit starts to strain, that could dampen demand. |
| Export/manufacturing expansions | Global OEM re-shoring to India, stronger export orders, localisation pushes will benefit players oriented to exports/assembly. |
| Electric vehicles & transition costs | While EVs are growing, the delta between ICE and EV still matters; adoption, subsidies, battery supply and charging infrastructure remain triggers. |
| Policy/regulatory moves | Changes in GST/road tax/EV incentive/ localisation rules will directly impact affordability and manufacturing competitiveness. |
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BANKING
Aggregate sector profit ~₹85,000 crore, with PSU banks posting ₹49,456 crore (+9% YoY), led by SBI’s stellar ₹20,160 crore (+10%).
Private banks sustained steady profit growth (7-11%) but faced margin pressure due to rising deposit costs and loan-deposit ratio adjustments.
Asset quality improved significantly; GNPA for PSBs ~3%, and for private banks ~1.3%-1.5%.
Key policy triggers: FDI limit in PSU banks raised to 49%, and PSU bank merger momentum (Union Bank-Bank of India, Indian Overseas Bank-Indian Bank) promising sector consolidation.
Outlook: Bullish on PSU banks as valuation gaps and structural reforms drive outperformance; private banks to rebound as rate cuts materialize in 2026.
| Bank | Past Week – Key News | Coming Week – Important Developments |
|---|---|---|
| Bank of Baroda (BoB) | Reported Q2 profit ~₹4,809 cr; shares hit 1-year high; warned US tariffs/geopolitics may raise credit cost | Inflation outlook easing; part of broader PSB consolidation talk; watch for announcements |
| State Bank of India (SBI) | Announced plan to sell 6.3% stake in asset management arm via IPO; aiming ≥15% CAR | Major PSB consolidation ongoing; SBI likely lead role |
| Union Bank of India | Q2 FY26: revenue down ~1.8% YoY; net profit dropped; investor meet scheduled | Merger speculation with BoI and others continues; watch for strategic announcements |
| Punjab National Bank (PNB) | Recruitment notification for 750 LBO posts signalling expansion; named for consolidation | Watch asset quality and credit growth commentary; reform momentum expected |
| Bank of India (BoI) | Mentioned as possible merger candidate in PSB consolidation | Potential merger with Union Bank or others; announcements are catalyst |
| Canara Bank | Strong rally and valuation improvements post-Q2; involved in reform talks | Sector momentum positive; watch for credit/growth updates |
| Indian Bank | Positive commentary on strong PSB performance; valuation rerating | Asset quality and credit surprises could impact stock |
| UCO Bank | Smaller PSB under scrutiny for consolidation | Merger or restructuring announcements could be material |
| Bank of Maharashtra | Listed for strategic review or merger under consolidation phase | Watch government consolidation plans for impact |
| Central Bank of India | Discussed in next wave of PSB mergers | Formal merger/recapitalisation announcement to act as key driver |
| Indian Overseas Bank | Yet to merge, likely included in next restructuring wave | Highly sensitive to reform news; watch strategic updates |
| Punjab & Sind Bank | Smaller PSB with fewer headlines | Structural moves such as mergers or privatisation remain key; else normal news flow |
FMCG
Revenue growth moderate at 5-7%, subdued due to GST transition and delayed Q2 festive buying.
Nestle India grew revenue 10.6% but saw a 23% dip in profit due to absence of one-off gains.
Tata Consumer Products reported 18% revenue growth with an 11% profit rise, driven by rural and innovative product launches.
HUL posted 2% revenue growth; volumes are expected to recover with the November festive season.
Rural consumption leads growth; quick-commerce channels increasing share to 12-15%.
Outlook: Strong volume recovery expected in H2 FY26; GST-driven price cuts and rural demand to fuel growth.
| Sector/Stock | Q2 FY26 Results (YoY) | Important Past Week News | Upcoming Week Triggers |
|---|---|---|---|
| Britannia Industries Ltd. | Net profit +23%, Revenue +4% | Margin expansion; stable bakery demand | Input cost moderation; festive demand |
| Colgate Palmolive India | Net sales -6%, PAT -17% | GST cut disrupted distributors; recovery | Distribution normalization |
| Dabur India Ltd. | Net profit +6.5%, Revenue +5.4% | Strong rural growth; Dabur Ventures launch | Rural demand; festive season boost |
| Hindustan Unilever Ltd. | Net profit +4%, Revenue +2% | GST cut impact; tax gain helped profit | Full GST cut benefit; winter products |
| ITC Ltd. | Revenue +8% (foods) | Cloud kitchens growth; Sunfeast performance | GST-driven volume boost |
| Marico Ltd. | High single digit volume, steady profit | Rural growth led by Parachute; distribution improvement | Rural growth; margin improvement |
| Nestle India Ltd. | Revenue +10.6%, Profit -23% | Strong Maggi/KITKAT; margin pressures | Volume recovery; GST & festive season |
| Tata Consumer Products Ltd. | Revenue +18%, Profit +11% | Beverages growth; Energy Tea launch | GST benefits; margin expansion |
METALS
Nifty Metal index fell 2.1% weekly, but up 24% YTD — the top-performing sector.
Domestic steel demand projected +8-9% YoY; Tata Steel and JSW continue strong performance; SAIL and Jindal Steel show robust near-term growth.
Aluminium and copper prices hit multiyear highs; Hindalco, Vedanta, NALCO report excellent earnings led by green energy demand.
Ferroalloys and mining companies posted strong profits; NMDC +33%, IMFA +95% QoQ.
Outlook: Positive as infrastructure push and China stimulus drive demand; risk from global trade tariffs remains
| Stock | Important Past Week News (Nov 3-9, 2025) | Quarterly Results (Q2 FY26) | Next Week Triggers (Nov 10-16, 2025) |
|---|---|---|---|
| APL Apollo Tubes Ltd. | Strong Q2 results, stock rose on profit surge | Net Profit ₹301.54 cr (+460% YoY), Revenue ₹5,206 cr (+9% YoY) | Analyst meets; Volume growth guidance 10-15% for FY26 |
| Adani Enterprises Ltd. | Q2 profit boosted by one-time gain on Adani Wilmar stake sale | Net Profit ₹3,199 cr (+84% YoY), Revenue ₹21,249 cr (-6% YoY) | Rights issue of up to ₹25,000 cr; Airport and roads updates |
| Hindalco Industries Ltd. | Strong India business; $750 mn Novelis investment | Net Profit ₹4,741 cr (+21% YoY), Revenue ₹66,058 cr (+13% YoY) | Capex plans for Aditya Aluminium expansion |
| Hindustan Zinc Ltd. | Record production reported | Net Profit ₹2,649 cr (+14% YoY), Revenue ₹8,549 cr (+4% YoY) | Seasonal winter demand growth |
| JSW Steel Ltd. | Record production, supported by China stimulus | Net Profit ₹1,623 cr (+270% YoY), Revenue ₹45,152 cr (+14% YoY) | Capacity expansions underway |
| Jindal Steel Ltd. | Mixed Q2 results; new CEO appointed | Gross Revenue ₹13,505 cr, PAT ₹635 cr | Blast furnace commissioning at Angul refinery |
| NMDC Ltd. | Record production and sales in Q2 | Net Profit ₹1,694 cr (+33% YoY) | Iron ore prices holding, strong steel demand |
| National Aluminium Co Ltd. | Best-ever Q2 results reported | Net Profit ₹1,430 cr (+37% YoY), Revenue ₹4,292 cr (+7% YoY); ₹4 dividend | Smelter capacity expansion plans |
| Steel Authority of India Ltd (SAIL) | Profit declined despite revenue growth | Net Profit ₹419 cr (-44% YoY), Revenue ₹26,704 cr (+3%) | Infrastructure order inflows; safeguard duties expected |
| Tata Steel Ltd. | Strong India volumes; Europe turnaround underway | Q2 results scheduled Nov 12 | Monitor Q2 results and operational updates |
| Vedanta Ltd. | Profit dip due to one-time costs; demerger progress | Net Profit ₹1,798 cr (-59% YoY), Revenue ₹39,868 cr (+6%) | Zinc and aluminium expansion projects |
INFORMATION TECHNOLOGY
Nifty IT index weakened amid global tech sell-off, showing signs of bottoming out.
Sector to cross $400 billion by 2030, driven by AI, automation, and higher-value services.
Q2 showed margin resilience and improved execution, but challenges remain in demand recovery and pricing pressure.
India-US semiconductor and AI collaboration discussions signal strategic sector elevation.
Outlook: Modest near-term growth with promise of acceleration as AI adoption matures.
| Company | Past-week Key News & Q2 Snapshot | Upcoming / Near-term Triggers to Watch |
|---|---|---|
| Coforge | Q2 FY26: Strong quarter — revenue up ~32% YoY; PAT jumped ~86% YoY to ₹376 crore; highlighted deal wins, low attrition | Watch investor call commentary on deal pipeline, attrition trends, dividend/bonus news |
| HCL Technologies | Q2 FY26: Revenue growth and profit stable — net profit ~₹4,235 crore; steady campus hiring; dividend declared | Monitor large deal closures, margin trends, FY26 guidance updates at management calls |
| Infosys | Q2 FY26: Reported revenue and net profit growth; strong large-deal traction, digital service focus (results 16 Oct) | Track client-level commentary, deal TCV disclosures, deal ramp-up, utilisation trends |
| LTIMindtree | Q2 FY26: Beat revenue and margin estimates; strong large deals (TCV); interim dividend declared | Watch large deal ramps, cross-sell progress post-merger, margin guidance updates |
| MphasiS | Q2 FY26: Healthy revenue and PAT growth (~10% YoY); EBITDA improvement; steady BFSI & tech demand | Monitor deal pipeline, client wins in cloud/digital, margin sustainability |
| Oracle Financial Services Software (OFSS) | Q2 FY26: Revenue growth, sequential net income dip; licensing & cloud contract signings key drivers | Look for major license/cloud signings, renewal patterns, partner/channel developments |
| Persistent Systems | Q2 FY26: Revenue ~$406m (+17.6% YoY), EBIT margin ~16.3%; growth targets and AI integration strategy reiterated | Track AI-contract execution, inorganic growth/M&A news, FY27 $2bn revenue target path |
| Tata Consultancy Services (TCS) | Partnership expansion with UK retailer Morrisons on digital transformation; steady Q2 results | Monitor retail vertical demand, large deal ramps, deal TCV disclosures |
| Tech Mahindra | Mixed trading last week; ongoing telecom & BFSI deal wins; no headline deals | Watch telecom client renewals, 5G/automation service guidance, margin recovery efforts |
| Wipro | Underperformed peers last week; steady Q2 margins; market watches peer comparison | Upcoming calls, large deal announcements, workforce productivity and AI progress |
OIL & GAS
Nifty Oil & Gas up 0.5%, benefiting from crude stabilizing near $63-65/bbl.
BPCL and HPCL delivered record marketing margins (~₹18-20/litre diesel) and attractive dividends; ONGC and Oil India steady on KG basin output.
City gas distributors face margin pressure due to government-controlled APM cuts but maintain volume growth.
Outlook: Robust refinery margins support bullish run despite volume challenges for CGDs.
| Stock | Q2 FY26 Results & Highlights | News/Events (Past Week) | Next Week/Forward Triggers |
|---|---|---|---|
| Bharat Petroleum (BPCL) | Net profit ₹6,191 cr, +170% YoY; interim dividend ₹7.5/share; GRM expansion | Record margin, inventory gain, subsidy boost | Low crude; GRM sustainability; dividend date; policy changes |
| Castrol India | Awaited Q2; Q1: profit up 3%, robust market share | Lubricant demand stable, rural penetration | Input price risk, festive demand |
| GAIL (India) Ltd. | Awaited Q2; Q1: transmission up, petchem improved | Gas grid expansion, LNG supply contracts | Gas price volatility, spot LNG prices |
| Gujarat Gas Ltd. | Awaited Q2; Q1: volume up, APM cuts squeezed margin | City gas price hike; industrial demand stable | Regulatory action, APM updates, volume demand |
| Gujarat State Petronet Ltd. | Expected: steady transmission; previous Q: stable | Infrastructure push, robust Gujarat industrial demand | Tariff review, gas pipeline policy |
| Hindustan Petroleum (HPCL) | Expected: strong profits/dividend; Q1 beat on refining | LPG, retail flows positive; on dividend payout | Refining margin, subsidy developments |
| Indian Oil Corporation (IOC) | Net profit ₹7,610 cr, up ~4,100% YoY; revenue +4%; record GRM | All-time refining margin, strong tariffs, inventory gain | Crude trend, LPG subsidy clarity, retail fuel demand |
| Indraprastha Gas Ltd. (IGL) | Awaited; Q1: strong volumes, steady margins | CNG/PNG price hike NCR, steady expansion | APM price impact, urban transport demand |
| Mahanagar Gas Ltd. (MGL) | Awaited; Q1: margin improvement, steady volumes | Gained share after price hike; lowest Mumbai fuel prices | Regulatory environment, volume stability |
| Oil & Natural Gas Corp. (ONGC) | Prelim Q2 profit ~₹17,000 cr, KG basin ramp-up; dividend ₹5.75/share | KG output, steady dividends, upstream profits | Gas sales, windfall tax, domestic demand |
| Oil India Ltd. | Previous Q: strong profit, refinery expansion; Q2 expected positive | Numaligarh expansion, dividend payout | Gas price, exploration, infra progress |
| Petronet LNG Ltd. | Q1 profit +16% YoY; Q2 expected industrial steady | LNG spot price volatility, robust industrial demand | Spot prices, regas volume, winter demand jump |
| Reliance Industries Ltd. (RIL) | Q2 net profit ₹22,146 cr (+16% YoY), revenue ₹2,58,898 cr (+10% YoY); O2C/retail steady | Jio/retail positive, O2C margins up, KG basin gas | Q3 O2C margin, Jio/retail updates, gas output ramp-up |
| Chennai Petroleum Corp. (CPCL) | Net profit ₹719 cr (Q2), revenue ₹16,334 cr, GRM USD 9.1/bbl; turnaround from last year | Hit 52-week high on results; GRM, distillate yield up | Long-term project execution, discounted crude supply |
| Mangalore Refinery (MRPL) | Q2 net profit ₹627 cr vs. loss YoY; revenue ₹22,710 cr (+30% QoQ); EBITDA up | Broke out to 52-week high; significant profit turnaround | Uptrend in GRM, product spread, festive oil demand |
REALTY
Nifty Realty slipped 1.25% but Q2 demonstrated sustained demand with large developers like DLF and Godrej reporting 10-15% revenue growth.
Commercial leasing experienced gradual recovery with positive rental trends in major cities.
Affordable housing and rural demand reinforced sector strength; government's ₹2.2 lakh crore infrastructure investment is a key support.
Outlook: Balanced, with long-term growth underpinned by government spending and improving urban and rural real estate demand.
| Company | Past Week News (Nov 2-9, 2025) | Q2 FY26 Results (Jul-Sep 2025) | Important Triggers for Next Week (Nov 10-16, 2025) |
|---|---|---|---|
| Anant Raj Ltd. | Announced Q2 results on Nov 8; stock up ~4% during sector rally | Net profit +31% YoY to ₹138 crore | Monitor sector sentiment post-Q2 announcements |
| Brigade Enterprises Ltd. | Stock up 0.47% Nov 3 amid realty climb | Net profit +37% YoY to ₹162.5 crore; sales bookings +12% to ₹2,034 crore | General festive sales momentum |
| DLF Ltd. | Stock rose 2.7% Nov 3; opened higher Nov 7; part of 4% realty gains | Net profit down 15% YoY to ₹1,180 crore; sales bookings up 6x to ₹4,332 crore | Sector optimism on festive demand; analyst upgrades possible |
| Godrej Properties Ltd. | Q2 results mid-week; stock up with pre-sales buzz | Net profit +20.73% YoY to ₹403 crore; booking value +64% to record levels | Follow-up on FY26 sales guidance of ₹32,500 crore |
| Lodha Developers Ltd. | Stock up 3.06% Nov 3; higher open Nov 7; noted in pre-sales rankings | Net profit +84% YoY to ₹779 crore; revenue +45% to ₹3,799 crore | Data center expansion updates; festive sales reports |
| Oberoi Realty Ltd. | Stock led early gains Nov 7; part of realty sector uptick | Net profit +29% YoY to ₹760 crore; revenue +35% to ₹1,779 crore | Broader market recovery in realty |
| Phoenix Mills Ltd. | Led gains with 3.72% rise Nov 3; strong Q2 performance | Net profit +39% YoY to ₹304 crore; revenue +22% to ₹1,115 crore | Retail festive season performance; mall traffic expected |
| Prestige Estates Projects Ltd. | Stock gained 4%; strong Q2 sales focus | Sales bookings +50% YoY to ₹6,017 crore; record H1 performance | Nomura top pick status; watch project launches |
| Signatureglobal (India) Ltd. | Q2 results Nov 8 showed widened loss; stock reaction pending | Net loss ₹47 crore vs profit last year; revenue down 56% YoY | Analyst reactions to Q2 miss; cost-cutting updates potential |
| Sobha Ltd. | Stock up 2.23% Nov 3; recent rises near 4%; Q2 profit surge noted | Net profit +178% YoY to ₹73 crore; revenue +52% to ₹1,469 crore | Strong sales momentum; No specific upcoming events noted |
PHARMA
Nifty Pharma steady (+0.10%) with companies registering healthy volume growth and new product approvals.
Sun Pharma and Dr. Reddy’s posted robust earnings; generic exports showed modest gains despite regulatory scrutiny.
Increased R&D investments and product innovation are key strategic pillars.
Outlook: Stable with potential upside from innovation and export growth.
| Company | Past Week News (Nov 2-9, 2025) | Q2 FY26 Results (Jul-Sep 2025) | Important Triggers for Next Week (Nov 10-16, 2025) |
|---|---|---|---|
| Abbott India Ltd. | Q2 results announced Nov 6; stock notable on pharma rally Nov 7 | Net profit +16% YoY to ₹415 cr; revenue +7.6% to ₹1,757 cr | Watch World Pharma Industry Conference (Nov 10, New Delhi) |
| Ajanta Pharmaceuticals Ltd. | Q2 results early Nov; shares gained 3% post-results and dividend declaration | Net profit +20% YoY to ₹260 cr; revenue +14% to ₹1,354 cr | Festive sales updates; pharma sector conference Nov 10 |
| Alkem Laboratories Ltd. | Strong growth spotlight Nov 7 | Net profit +26% YoY to ₹689 cr; revenue +13% to ₹3,415 cr | Analyst meets; AI-Pharma Innovation Summit (Nov 13-14, Hyderabad) |
| Aurobindo Pharma Ltd. | Q2 announced Nov 7; focus on Europe revenue target €1B FY26 | Net profit +4% YoY to ₹848 cr; revenue +6% to ₹8,286 cr | Capex plans; sector tariff discussions |
| Biocon Ltd. | No major news; upcoming results awaited | Q2 results scheduled Nov 11 | Biosimilar updates; Q2 results Nov 11 |
| Cipla Ltd. | Acquired Inzpera on Nov 4; shares in focus | Net profit +4% YoY to ₹1,351 cr; revenue +8% to ₹7,589 cr | Management rejig; PharmaTech Expo prep |
| Divi’s Laboratories Ltd. | Strong Q2 Nov 7; shares dropped 4% post results | Net profit +35% YoY to ₹689 cr; revenue +16% to ₹2,715 cr | Capex guidance; API sector discussions |
| Dr. Reddy’s Laboratories Ltd. | Q2 late Oct; NRT portfolio improved revenue | Net profit +7% YoY to ₹1,347 cr; revenue +10% to ₹8,828 cr | Biosimilar launches; US FDA inspections |
| Gland Pharma Ltd. | Q2 announced Nov 3; strong US/Europe growth | Net profit +12% YoY to ₹184 cr; revenue +6% to ₹1,487 cr | Pipeline expansions; growth guidance |
| Glenmark Pharmaceuticals Ltd. | No major recent news | Q2 results Nov 17 awaited | Analyst calls; Europe and emerging markets updates |
| Ipca Laboratories Ltd. | No news; tariff relief buzz persists | Q2 expected mid-Nov | Cost updates; Q2 results scheduled |
| J.B. Chemicals & Pharmaceuticals Ltd. | Acquisition talks ongoing; no Q2 yet | Q2 results awaited | Buyout timeline (Jan 2026); Q2 preview |
| Laurus Labs Ltd. | Q2 late Oct; shares down 3% despite strong margins | Net profit +885% YoY to ₹195 cr; revenue +35% to ₹1,653 cr | CDMO expansion; land acquisition updates |
| Lupin Ltd. | Q2 results Nov 6; 73% profit jump | Net profit +73% YoY to ₹2,070 cr | Specialty segment growth; new facility plans |
| Mankind Pharma Ltd. | Q2 Nov 6; revenue growth, profit dip; monsoon/GST impact | Net profit -21% YoY to ₹520 cr; revenue +21% to ₹3,697 cr | OTC sales rebound; export growth |
| Piramal Pharma Ltd. | Q2 Nov 5; CDMO weakness leads to loss | Net loss ₹99 cr vs profit last year; revenue -9% to ₹2,044 cr | Debt reduction updates; growth outlook |
| Sun Pharma Ltd. | Q2 Nov 5 beats; US innovative sales surpass generics | Net profit +3% YoY to ₹3,118 cr; revenue +9% to ₹14,405 cr | Leqselvi launch; R&D spend updates |
| Torrent Pharmaceuticals Ltd. | Q2 Nov 7; strong branded growth; JB buyout target Jan | Net profit +30% YoY to ₹591 cr; revenue +14% to ₹3,302 cr | Acquisition integration monitoring; EBITDA margins |
| Wockhardt Ltd. | Q2 Nov 3 turnaround to profit; Saudi breakthrough | Net profit ₹82 cr vs loss last year; revenue -3% to ₹782 cr | NDA filings; biotech segment developments |
| Zydus Lifesciences Ltd. | Q2 Nov 6; 38% profit growth; ₹5,000 cr fundraising planned | Net profit +38% YoY to ₹1,259 cr; revenue +14% to ₹6,484 cr | Fundraising and EBITDA margin guidance |
FINANCE (NBFCs, Housing Finance, Broking)
Nifty Finance dipped 0.5%, influenced by margin challenges and risk concerns.
Housing finance companies like HDFC reported steady loan book growth (+10-12%) and better asset quality.
NBFCs improved collection efficiencies post-monsoon; broking firms gained from higher market volumes.
Liquidity remains abundant, supporting credit demand.
Outlook: Cautiously optimistic, closely watching credit trends and macroeconomic growth.
| Company | Past Week News (Nov 2-9, 2025) | Q2 FY26 Results (Jul-Sep 2025) | Important Triggers for Next Week (Nov 10-16, 2025) | Stock Specific News / Notes |
|---|---|---|---|---|
| Bajaj Housing Finance | Q2 PAT +18% YoY; Net Interest Income soared +34%; robust disbursements | PAT ₹643 crore; NII ₹956 crore | Monitor margin trends, disbursement growth, and sector sentiment | Stock steady post-results; investor focus on growth outlook |
| LIC Housing Finance | Net profit marginally up +1.6%, good asset quality trends | PAT ₹1,349 crore; loan book growth +6% | Earnings call, asset quality update, regulatory environment | Shares pulled back slightly post-result; inflation impact |
| Muthoot Finance | Q2 net profit down >50% YoY but improving QoQ; cautious lending | Net profit ₹31 crore; gross NPAs declined | Watch assets under management, disbursement pace, and credit cost | Stock volatile; focus on gold loan segment recovery |
| Shriram Finance | Q2 PAT +7%, asset quality improved, declared interim dividend | PAT ₹2,314 crore; Gross NPA at 4.57% | Credit growth commentary and sector recovery | Steady performance, strong collection efficiency |
| Aditya Birla Capital | Loan book up 29%, PAT +3%; branch expansion reported | PAT ₹855 crore; revenue growth +4% | Monitor credit cost, market share gains | Investor attention on digital lending growth |
| PFC (Power Finance) | Q1 PAT +25%, consistent revenue growth | Q2 results expected | Watch policy moves on power projects and earnings | Large PSU with strong government order pipeline |
GLOBAL AND DOMESTIC TRIGGERS TO WATCH (NEXT WEEK)
RBI Policy Review (Nov 12): Potential 25 bps CRR cut to boost liquidity.
US Inflation Data (Nov 13): CPI print below 2.5% could ease global volatility and benefit IT/tech sectors.
India Inflation Data (Nov 13): Market expectations for ~4.8% CPI with rate cut hopes persisting.
KG Basin Gas Output: Expected to hit 10 mmscmd mid-November, potentially boosting ONGC earnings.
Pine Labs IPO: ₹3,900 crore offering could energize fintech segment sentiment.
Continued MSCI inflows following index rebalance with inclusion of Paytm, Zomato, Trent.
BOTTOM LINE
The market consolidates after strong October momentum, driven by domestic demand resilience and cyclical sector strength.
PSU banks, metals, infrastructure, and OMCs provide the clearest near-term investment opportunities.
Prudence advised in tech and FMCG sectors until clearer signs of demand recovery emerge.
Current supports are strong around Nifty 25,300 with Budget 2026 approaching as a potential catalyst.
Maintain focus on structurally superior sectors and monitor global macro for volatility spikes.
See you next SUNDAY—same time, same chai, double elaichi!
#BharatModeOn #MarketUpdate #EquityOutlook
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