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August 07, 2025

Daily Morning Report Date: 7th August 2025
NIFTY OUTLOOK: 24,574.20 FII: -Rs. 4,999.10 cr DII: Rs. 6,794.28 cr
As discussed yesterday, market behaviour remained on expected lines, with bearish sentiments dragging Nifty down to our support of 24,547 — making a low of 24,539.
A small bearish candle on the daily chart suggests continuation of the prevailing downtrend. If Nifty decisively breaks below 24,525, it may slip further to 24,477–24,428. If supply pressure intensifies, it may even test 24,380.
On the upside, 24,623–24,671 may act as immediate resistance. A breakout and sustained move above this zone can push Nifty towards 24,720–24,770.
Today's events will be the trigger for the next move. We need to remain very cautious.
Bank Nifty Outlook – 7th August 2025
Spot Level: 55,411.15 | PCR: 0.77, Max CE OI: 57,000 | Max PE OI: 57,000
On 7th August 2025, Bank Nifty closed at 55,411.15 with a movement of 331.70 points during the session. It made an intraday high of 55,559.40 and a low of 55,227.70.
Technical View:
Bank Nifty faces strong resistance around 55,900, while immediate support lies near 55,050.
Intraday support and resistance are seen at 55,300 and 55,500 respectively.
Intraday Strategy:
Buy above 55,510 with SL at 55,470 for target of 55,600
Sell below 55,300 with SL at 55,350 for target of 55,220
Indicators & Patterns:
RSI stands at 36.70 (neutral zone)
SMA Trend: Trading above 100, 150, and 200-DMA, but below 5, 10, 20, 30, and 50-DMA
A bullish candlestick pattern has been observed on the daily chart
• Inside Uptrend
Macros:
1. Dollar index @ 98.11
2. S&P 500 Vix @ 16.77
3. Crude @ 67.32
4. US 10 years bond yield @ 4.224
Note:
Earnings season in the US has turned out better than expected (front loading was done before the 1st August deadline). Tech and AI-related companies are reporting strong results. With the season now nearing completion, LSEG data shows over 80% of the companies that have reported so far have beaten earnings estimates.
In a surprise move, Trump has imposed an additional 25% tariff on India, citing India’s continued imports of Russian oil. This raises the total US duty on some Indian exports to 50% — among the highest ever levied by the US on any trading partner.
The deteriorating relationship with the US is a concern for the Indian Government, which now has to deal with this tariff pressure. The new tariff will come into effect after 21 days from 5th August, with a penalty clause still under discussion. Anyway, Indian companies were already struggling under the earlier 25% tariff — so whether it's 50%, 100%, or even 200%, the impact remains the same. The hike seems more about Trump's ego than trade economics.
We need to stay cautious, keep positions light, and observe the reaction.
On the data front, FII net long position stands at 9.3%, i.e., in a highly oversold zone. Any dip from here may reduce it further and trigger short covering at key levels (refer index view).
Traiff boom & its effect
As expected Mr.Trump US president impose new 25% which will come into effect on 26th august .
What will be the effect on US & Indian economies .
Effect on US
1.Additional Tariffs ( Custom duties ) which has been imposed on India of 25% will come into effect from 27h Aug .
Usually tariffs are distributed in three equal parts . Impoters , Expoters & End-cusomers if 25% addtional tariff will get imposed in next 21 days .
House hold expenses of US will get incresed by 2400 $ . Middle -class & lower class income will get a hot of average of 1700$ & elite class will get a hit of 5000 $ .
Till now effect of tariff impact was not geting reflected completely on contractay very littel effect was seen in US that was due to front loading ( front loading meand before 1 st august dead line for negotiation exporters ramed up they exports in US nad stocks were piled up . Now that stocks has been use to large extend & new goods that will be imported at infalted rates we will see Infation going up .
Its not only that India will get afftected US will also gets affected .
As far as Indian economy is concerned we export around 93 billion and with addtional out of which 64 $ billion will get effected .
Domestic export sectors such as leather, chemicals, footwear, gems and jewellery, textiles and shrimp will be severely impacted by the imposition of the 50 per cent tariff by the US.
The move specifically affects India’s labour-intensive exports such as textiles, shrimps, organic chemicals, carpets, and gems and jewellery, where India now faces some of the highest effective tariff rates in the world.
According to government data on unincorporated sector enterprises, over 4 million people are employed in textile manufacturing, while another 11.12 million work in apparel production.
Conclusion : Additional tariff will come into effect on 27 th Aug we are expecting some negotations will be done and comprehensive deal will be done . US officials will visit Indian probably around 20-21 th august .
Mean while US -Russia talk are going on . U.S. Special Envoy Steve Witkoff Had Successful Talks With Russian President Vladimir Putin, Making Significant Progress. The U.S. Also Informed European Allies That The War Should End Soon, And They Will Collaborate To Achieve That In The Coming Weeks.
If that deal goes through we may see tariffs tension will get relived & in that case Indian makets will give huge short covering as Fiis are in highly over sold zone
InIndex as well as in cash segment . Fiis has sold 47666 cr in July and are net seller aof 10954.49 cr in Aug till date . In stock fut they sold 27066 cr in july & 3454.57 cr in Aug ( tehy are underbought in all teh segment ) anyt positive new of trade deal will give huge short covering .
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Ythart hospital @ all tim high 710 from 350 to 710 doubled
fortis @ all time high 904
Transrail @ all time high @ 820
Stay with us and stay ahead
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Contributed by
Ashok bhandari : INH000019549
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MOSL ON BRITANNIA INDUSTRIES
MOSL maintains 'Neutral' on Britannia; TP at ₹5,850
Revenue growth led by pricing, but margin pressure continues
Company open to price cuts if needed
EBITDA margin expected at 18-18.5% for FY26-28
EPS Estimates changed for FY26/FY27 EPS
Profitability may recover like previous inflation cycle
Awaiting stable demand in core categories
@beatthestreet10
AVENDUS ON BHARTI AIRTEL
Avendus maintains 'Reduce' on Bharti Airtel; TP set at ₹1,370
India capex (ex-Indus) seen at 28,500/27,500 cr for FY26/27
Lower wireless capex, but higher spend on Homes & Enterprise
India FCF (ex-Indus) to rise from 23,300 cr (FY25) to ₹38,700 cr (FY27E)
VIL & BSNL capex ramp-up may cause some subscriber shift from top 2 telcos
SOTP-based TP of ₹1,375 values India biz at 10x FY27E EBITDA
@beatthestreet10
MOSL ON BHARTI AIRTEL
MOSL maintains 'Buy' on Bharti Airtel; TP raised to ₹2,285 from ₹2,200
Strong Q1 performance; robust FCF, net debt declines
Stock outperformed with +22% CYTD vs +4% Nifty-50
Valuation re-rated to ~12x FY27E EV/EBITDA
Further upside depends on sustained tariff hikes post-FY27
FY26-28E EBITDA raised by ~1%, led by AAF growth
Modeling 14%/17% CAGR in revenue/EBITDA over FY25-28
India wireless/homes valued at 13.4x DCF, DTH/Enterprise at 5x/10x
Indus & Airtel Africa stakes valued at 25% discount to TP/CMP
@beatthestreet10
AVENDUS ON TRENT
Avendus downgrades Trent to Reduce; TP cut to ₹5,000 from ₹5,650
FY26 may see a consolidation phase
Growth to slow, though remains healthy
Muted macros may cap market cap near ₹2 lakh cr
Revenue cut by 4% (FY26), 6% (FY27)
EBITDA margin steady at ~17-18%
Valuation at 65x PE seen as stretched
Risk-reward now unattractive
@beatthestreet10
MOSL ON TRENT
MOSL maintains 'Buy' on Trent; TP revised to ₹6,400 from 6,600
Margin expansion surprises despite slower growth
FY26-27 EBITDA estimates unchanged.
PAT cut by 1-5% on higher depreciation
Building in 20%/18%/16% CAGR for Selin revenue/EBITDA/PAT over FY25-28
Revenue growth acceleration seen as key trigger
@beatthestreet10
AVENDUS ON BAJAJ AUTO
Avendus maintains 'Buy' on Bajaj Auto; TP cut to ₹9,350 from ₹9,700
Domestic volume CAGR seen at ~5% (FY25-27E)
Export volume CAGR estimated at ~12% (FY25-27E)
Margins expected at ~20% by FY27E
EV portfolio expansion to drive medium-term growth
Valued at 25.5x FY27E EPS
@beatthestreet10
AVENDUS ON BRITANNIA INDUSTRIES
Avendus maintains 'Add' on Britannia; TP revised to ₹5,800 from ₹5,900
Growth driven by pricing; volume recovery expected gradually
Adjacencies to aid sustained double-digit growth
Margins to stabilize around ~18% in FY26-27E0
Modeling low double-digit revenue CAGR and ~13% PAT CAGR over FY25-27
Valued at 50x PE to arrive at TP
@beatthestreet10
MOSL ON BRITANNIA INDUSTRIES
MOSL maintains 'Neutral' on Britannia; TP at ₹5,850
Revenue growth led by pricing, but margin pressure continues
Company open to price cuts if needed
EBITDA margin expected at 18-18.5% for FY26-28
EPS Estimates changed for FY26/FY27 EPS
Profitability may recover like previous inflation cycle
Awaiting stable demand in core categories
@beatthestreet10
Bernstein on Bajaj Finance
Maintain Sell | TP: ₹640
• "Sell the dip" stance
• Higher credit costs remain a near-term concern
• No room left to improve loan spreads
• Opex optimization mostly done
• Growth risks persist
@beatthestreet10
BofA on PVR Inox
• Rating: Maintain Underperform
• Target Price: ₹945
Q1 Highlights:
• EBITDA beat despite in-line revenues – driven by cost control
• Signs of growth uptick observed
• Focus remains on reducing net debt
• Consistent content pipeline seen as key for future re-rating
@beatthestreet10
Citi on Trent
• Rating: Maintain Buy
• Target Price: Cut to ₹7,150 from ₹7,600
Q1 Highlights:
• LFL moderates; strong profitability beat driven by lower opex
• Cost savings from reversal of inventory provisioning and reduced employee expenses
• Store expansion pace muted, consistent with typical Q1 trend
@beatthestreet10
UBS on PFC
• Rating: Maintain Buy
• Target Price: Cut to ₹580 from ₹600
Q1 Highlights:
• Beat driven by writebacks
• PAT and growth beat supported by strong AUM growth of 15.7% and 86% YoY rise in disbursements
• Writebacks on DISCOM upgrades led to PAT beat
@beatthestreet10
Jewellery Exports to US
• US is India’s largest export destination with $9–10 bn in exports
• 30% of India's jewellery exports go to the US
• Exports currently suspended as 50% duty renders it unviable
• Source: GJEPC to CNBC-TV18
@beatthestreet10
Avendus on Bharat Forge
• Rating: Maintain Add
• Target Price: ₹1,180
• Standalone margins to remain stable ~28% through FY27E
• Overseas margin gains driven by improved capacity utilisation
• Forecasting 9% revenue CAGR and 12% EBITDA CAGR over FY25–27
• Europe operations under restructuring to address underperformance
• US tariff policy a key near-term risk for global auto demand
• Backed by strong ₹9,500cr defence order book (as of June 2025)
@beatthestreet10
Motilal Oswal (MOSL) on Divi's Labs
• Rating: Maintain Neutral
• Target Price: Cut to ₹6,320 from ₹7,045
• Custom synthesis momentum steady; generics remain weak
• High opex from new projects impacting profitability
• FY26/27 earnings estimates cut by 8%/6%
• Revenue expected to be back-ended over forecast horizon
• Modeling 20% earnings CAGR over FY25–27
@beatthestreet10
Antique on Divi's Labs
• Rating: Maintain Hold
• Target Price: Unchanged at ₹6,575
• Margins remain muted despite steady topline
• Loss of exclusivity for sacubitril/valsartan in US poses near-term risk
• FY26/27E EBITDA cut by 9%
• Valuation rolled forward to 37x 1HFY28E EBITDA
• Capex guidance for FY26 raised to ₹2,000cr (from ₹1,400cr)
• Peptide opportunity needs clearer ramp-up visibility
@beatthestreet10
Jefferies on Prestige
• Rating: Maintain Buy
• Target Price: Raised to ₹1,850 from ₹1,700
Q1FY26 Highlights:
• Strong operating performance
• P&L beat; Residential revenues expected to rise
• Excellent pre-sales momentum
• Guidance maintained, but a beat appears likely
@beatthestreet10
Jefferies on Divi's Labs
• Rating: Maintain Hold
• Target Price: Raised to ₹6,750 from ₹6,200
• Q1 miss; near-term outlook remains uncertain
• API growth continues to be weak
• Custom Synthesis segment faces near-term headwinds
• FY26 to be a heavy capex year
@beatthestreet10
UBS on Bharat Forge
• Rating: Sell
• Target Price: ₹1,175
• Tariff-related uncertainty clouds near-term outlook
• Weak Q1FY26 performance across segments
• ₹140mn (60bps) tariff-related impact in Q1
• Ongoing negotiations with key clients to address tariff hit
@beatthestreet10
Motilal Oswal (MOSL) on PFC
• Rating: Maintain Buy
• Target Price: ₹490
• Earnings in line, supported by provision write-backs
• NII beat negated by higher forex losses
• Loan book rose ~1% QoQ
• FY26 loan growth guidance at 10–11% reaffirmed
• Forecasting FY25–27 CAGR: Disbursements 10%, Advances 12%, PAT 8%
• Expect RoA/RoE of 3%/18%, dividend yield ~4.4% in FY27E
• Valuation: 0.9x FY27E P/BV, ~5x FY27E P/E
@beatthestreet10
Bernstein on Trent
• Rating: Outperform
• Target Price: ₹6,500
• Revenue growth disappointed in Q1FY26
• Store count up 27% YoY; total area up 38% due to larger formats
• Standalone revenue growth at 20% (vs. 57% in Q1FY25)
@beatthestreet10
Motilal Oswal (MOSL) on Lupin
• Rating: Maintain Neutral
• Target Price: Cut to ₹2,000 from ₹2,140
• Earnings beat led by strong US market execution
• FY26/27 earnings estimates raised by 5.5%/2%
• Valuation: 22x 12M forward earnings
• Forecasting 14%/16% EBITDA/PAT CAGR over FY25–27
• FY26 EBITDA margin guided at 24–25%
• Strong revenue growth outlook, but limited upside from current levels
@beatthestreet10
Morgan Stanley (MS) on Non-Life Insurance
• Industry premium growth at 3% YoY in July (vs. 5% in June)
• Private multi-line players saw a 3% YoY decline (no decline in June)
• Lower growth trend since Oct-2024 due to accounting changes in long-term policies
• ICICI Lombard reported 10% YoY decline, same as June
@beatthestreet10
Jefferies on Hero MotoCorp
• Rating: Maintain Underperform
• Target Price: ₹3,330
• Q1 weak but in line
• PAT flat YoY, aided by higher financial income
• Positive traction seen in electric mobility segment
@beatthestreet10
Antique on Bharti Airtel
• Rating: Maintain Buy
• Target Price: Raised to ₹2,222 from ₹2,100
• Q1 results in-line with expectations
• FY26 subscriber estimate cut by 1%, ARPU unchanged
• FY26/27 earnings remain steady
• Key trigger: Next tariff hike likely in Q1FY27
• Lower wireless capex expected to improve FCF and RoE (>20%)
• TP revised using DCF model rolled forward to 1HFY28
@beatthestreet10
India Textile Exports to US
• India’s textile exports to the US stand at $8–8.5 billion
• Tariffs could severely impact the entire textile manufacturing ecosystem
• US buyers unlikely to absorb the price hike
• Source: Indian Texpreneurs Federation (ITF) to CNBC-TV18
@beatthestreet10
Jefferies on Bharat Forge
• Rating: Maintain Underperform
• Target Price: ₹950
• Tough Q1; exports outlook worsened by weak macro and rising US-India tariffs
• Positive trigger: Ramp-up of large Indian guns order to begin from Q4
• FY26–28E EPS estimates are 9–14% below Street consensus
@beatthestreet10
Citi on Bajaj Auto
• Rating: Sell
• Target Price: ₹7,300
• Q1 in line with estimates
• Positive outlook driven by export momentum and domestic demand recovery in 2H
• Domestic motorcycle market share gradually declining
• Intensifying competition in the 125cc segment
@beatthestreet10
Goldman Sachs (GS) on Bajaj Auto
• Rating: Buy
• Target Price: ₹9,500
• Q1 results in line with expectations
• Rare Earth shortages likely to impact E2W and E3W production in Sept quarter (50–60%/70–80% of plan)
• Shortage resolution expected by FY26 end
• Margins expected to remain flat going forward
@beatthestreet10
Antique on Trent
• Rating: Maintain Buy
• Target Price: Raised to ₹7,301 from ₹6,045
• Profitability beat estimates in Q1
• Fashion concepts reported low single-digit LFL growth
• Trent continues to outperform despite weak demand environment
• Opex rationalization expected to enhance profitability further
• FY26/27 EBITDA estimates raised by 3% each
@beatthestreet10
MOSL on Gujarat Gas
• Rating: Maintain Buy
• Target Price: Cut to ₹500 from ₹555
• Industrial volumes facing near-term pressure
• Propane prices have softened, but spot LNG remains elevated
• FY26/27 volume estimates reduced by 0.6/0.9 mmscmd
• EBITDA/scm margin steady at ₹5.9
• EPS estimates cut by 8% (FY26) and 9% (FY27)
• Stock may remain under pressure due to weak volume outlook
• Trades at 22.8x 1Y forward P/E, below long-term average of 25.3x
@beatthestreet10
Motilal Oswal (MOSL) on CONCOR
• Rating: Maintain Buy
• Target Price: Cut to ₹670 from ₹760
• Q1 earnings missed due to lower realization in EXIM/domestic and container delivery delays
• FY26/27 revenue, EBITDA, PAT estimates cut by ~4%/4%/7% and ~1%/3%/3% respectively
• TP based on 18x EV/EBITDA (FY27E)
• FY26 volume growth guidance: 13% overall, with 10% from EXIM and 20% from domestic segments
@beatthestreet10
CLSA on BHEL
• Rating: Underperform
• Target Price: ₹198
• Q1: Net loss rose 114% YoY; stock trades at 45x FY26CL P/E
• Operational turnaround was expected after two years of backlog growth
• However, execution disappointed with only 4% YoY growth in Q1, missing consensus
• Bright spot: Surge in fossil orders amid India’s focus on energy security
• Thermal business orders peaked at 26.6 GW in FY25
@beatthestreet10
HSBC Management says Tariffs Will Become An Excuse For FPIs To Look Away From India To Other Asian Markets - CNBCTV 18
At Some Point South Korea And Taiwan Rallies May Fizzle Out
Some Money May Rotate Out Of SK & Taiwan By H2 And Come To India
@beatthestreet10
Nuvama on Trent
• Rating: Maintain Hold
• Target Price: ₹5,850
• Margins surprised positively despite weak LTL
• Management remains focused on revenue growth across micro-markets
• Margins improved due to technology, PoH automation, fewer employees/store, and lower rents
• FY26/27 revenue estimates cut by 8%/11%; EBITDA estimates raised by 1.7%/0.1% on margin improvements
@beatthestreet10
Nuvama on Bharat Forge
• Rating: Maintain Hold
• Target Price: Raised to ₹1,280 from ₹1,230
• Q1 soft; core business outlook muted
• CV, global construction, and tractor segments remain weak
• Standalone revenue/EBITDA CAGR at 7%/6% (FY25–28E)
• Subsidiaries likely to remain loss-making
• Auto exports to grow at modest 1% CAGR; domestic auto at 4%
• India MHCV growth expected to be flat-to-positive in FY26
• TP based on 35x/15x Sep-27E
@beatthestreet10
Nuvama on BHEL
• Rating: Maintain Buy
• Target Price: Cut to ₹335 from ₹360
• Weak Q1, but turnaround story remains intact
• Positive on thermal revival supported by fresh orders
• BHEL holds 90%+ market share; expected to win ~17GW over 2–3 years
• FY26E/27E EPS cut by ~15%/5% due to execution spillover
• Key monitorables: timely backlog execution, non-thermal growth, legacy project commissioning
@beatthestreet10
Nuvama on Bajaj Auto
• Rating: Maintain Buy
• Target Price: Cut to ₹9,400 from ₹10,700
• Q1 EBITDA beat; overall outlook remains positive
• Forecasting 7% volume CAGR over FY25–28E (3% domestic, 13% exports)
• Export growth to be driven by strong demand from Latin America and Asia
• Revenue and EBITDA CAGR of 10% expected over FY25–28E
• RoE seen at ~28%
• Valuation multiple lowered to reflect moderated growth
• TP based on 25x Sep-27E core earnings
@beatthestreet10
TATA STEEL ;
Company's arm has acquired 40% equity stake in TSN Wires, thereby making it an indirect wholly-owned foreign subsidiary.
@beatthestreet10
Pearl Global on Tariff Response (via CNBC-TV18)
• Will shift US-bound exports to facilities in Vietnam and Bangladesh
• Surge in sales and shipments expected as buyers push to meet the tariff deadline
• US customers are demanding early deliveries before the new tariff kicks in
• Industry cannot absorb or mitigate the impact of a 50% tariff on textiles
Impact: Negative – For both pharma and textile sectors, US tariffs pose substantial headwinds; firms are now seeking alternate geographies and expedited shipments to manage risk.
@beatthestreet10
Lupin on US Tariffs
• Tariffs ranging from 20% to 250% will have a significant impact on the US generics market
• Noted that 75% of drugs sold in the US are imported, and India supplies 50% of all generics
• Resulting tariffs could lead to price increases and inflationary pressure in the US generics space
@beatthestreet10
FADA July Data
--Total Sales Down 2% MoM & Down 4.3% YoY At 19.64 Lk Units
--2-wheeler Sales Down 6.28% MoM & Down 6.48% YoY At 13.55 Lk Units
--CV Sales Up 4.2% MoM & Up 0.23% YoY At 76,439 Units
@beatthestreet10
GEOSPHERE CAP MGMT Says India Needs To Find A Way To Negotiate On The Base 25% Tariff Rate - CNBCTV 18
India Will Likely Have To Make Some Concessions On Agriculture & Dairy
There Is Less Concern About The Additional 25% Tariffs At This Point
FII Flows Not A Big Concern At The Moment
@beatthestreet10
GLENMARK: Glenmark USA will pay \$37.75 million to settle a U.S. antitrust class action involving price-fixing allegations.
The settlement includes \$11.1 million upon preliminary court approval and \$26.65 million by April 1, 2026.
The company denies all allegations and clarified that the settlement does not imply any admission of guilt.
The deal helps reduce legal uncertainty but may impact cash flows and sentiment in the U.S. market.
@beatthestreet10
ADANI ENT: Adani Airports plans to invest ₹20,000 crore in phased developments around Mumbai and Navi Mumbai airports.
The focus is on boosting non-aeronautical revenue to 70% by 2030, up from the current 50%.
The 240-acre Navi Mumbai project will follow global airport city models like Schiphol and Zurich.
This move supports long-term value creation and enhanced monetisation of airport infrastructure.
@beatthestreet10
PARAS DEFENCE: Paras Defence has signed an exclusive Teaming Agreement with Germany’s HPSS for advanced space technologies.
The partnership will focus on deployable antenna reflector subsystems, thermal hardware, and deployment electronics for the Indian market.
The agreement spans two years and is extendable by mutual consent.
There is no related party involvement or shareholding, ensuring transparency.
@beatthestreet10
TEXTILES , SHRIMP STOCKS WORST HIT AFTER TRUMP'S ADDITIONAL TARIFFS
@beatthestreet10
BDL IN FOCUS
BDL: PHILIPPINES SAY THAT THEY NEED MORE BRAMHOS MISSILES
@beatthestreet10
ETERNAL ; 19 LKH SHARES EXCHANGED VIA BLOCK DEAL
@beatthestreet10

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