Market Highlights

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Get the latest Indian stock / share market highlights, BSE/NSE stock news, business research reports & details - updated daily by Money Times.

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September 23, 2025

• Daily Morning Report          Date: 23.09.2025
• NIFTY OUTLOOK: 25202.35 FII -2910.09 cr DII 2582.63 cr
• As discussed yesterday, market behaviour remained on expected lines, with selling pressure dragging Nifty down to 25151.
• A bearish candle with an upper shadow on the daily chart suggests short-term control of bears and continuation of selling. If Nifty breaks below 25163 decisively, it may slide further to 25125–25083, and if supply intensifies, it may test 25047.
• On the upside, 25241–25280 may act as immediate resistance. A breakout and sustained move above these could push Nifty to 25321–25357.
• Bank Nifty OUTLOOK:
• SPOT: 55284.75 Pcr: 0.94 Max CE OI: 57000 Max PE OI: 55000
• On 22nd September 2025, Bank Nifty closed at 55284.75 (-174.10, -0.31%). The index moved 450.75 points during the session, making a high of 55666.35 and a low of 55215.60.
• Technical View:
• Key support and resistance are at 55000 and 56200.
• Intraday support and resistance are at 55160.80 and 55408.70.
• Intraday Strategy:
• Go long above 55408 with SL 55370 and target 55530.
• Go short below 55160 with SL 55202 and target 55036.
• RSI stands at 57.60 (below 30 = oversold, above 70 = overbought).
• Bank nifty Day SMA Analysis
• Bank nifty is trading above 5 out of 8 SMA’s (10, 20, 30, 150, 200 Day).
• Bank nifty is trading below 3 out of 8 SMA’s. (5, 50, 100 Day)
• No candlestick Pattern was identified in bank nifty.
• Macros .
• 1. Dollar index @ 69.99
• 2. S&P 500 Vix @ 15.85 ( +2.59%)
• 3. Brent crude @ 66.50 ( -0.27 %)
• 4. US 10 years bond yield @ 4.142
• Note: Indian Foreign Minister Subrahmanyam Jaishankar is visiting the US to discuss the tariff deal. He stated that he and U.S. Secretary of State Marco Rubio agreed in a meeting in New York on Monday on the importance of sustained engagement to make progress in priority areas.
• The next few weeks will be crucial, as the US-India trade deal is expected to be finalized in 6–8 weeks. Investors should remain cautious and focus on stock-specific opportunities.
• In commodities, bullions (gold and silver) have reached all-time highs due to strong demand from central banks and a weaker dollar, which together are fueling this rally.
• --------------------------------------------------------------------------
• Contributed by
• Ashok bhandari : INH000019549
• -------------------------------------xxxxxxx-------------------------------------------------------------------xxxxxxx---------------------------------
• Maruti Suzuki Says -
• “Customer response has been phenomenal — 80,000 enquiries on Day 1, 25,000+ cars delivered, with bookings at 15,000 per day — nearly 50% higher than usual
• Jefferies India Strategy: Economic Indicator (Aug’25)
• • Activity levels came in slightly below the 6-month average
• • A disappointment, given the low base of last year
• • GST rate cut announcement and US tariffs likely moderated broad-based indicators such as energy demand
• • Consumption data remained weak
• • Rural economy and infra indicators performed relatively better
• Jefferies on Logistics (Aug’25)
• • Container volumes holding up, for now
• • Major Port container cargo rose 4% YoY in Aug’25, driving a 5% YoY rise in Indian Railways (IR) container volumes
• • In Q2FY26E till date, IR volume growth at 7% YoY is marginally ahead of estimates for ConCor
• • Front-loading of cargo ahead of US tariffs and festive buying have supported volumes
• • Sustainable growth from Oct’25 holds key
• JPMorgan on L&T
• • Recommendation: Overweight
• • Target Price: ₹4,240
• • Continues to benefit from infrastructure spending by central, state & PSU entities
• • In the Middle East, capitalizing on sustained oil & gas capex
• • Expanding into high-growth sectors and new geographies
• • Strategic capital allocation driving efficiency & future investments
• Nomura on Hyundai Motor
• • Recommendation: Buy
• • Target Price: ₹2,846
• • From Global Investor Day — Hyundai Motor India volumes expected to grow at 9% CAGR (CY25–30E); may need to raise capacity
• • Strong model pipeline with multiple launches ahead
• Jefferies on Patanjali
• • Recommendation: Buy
• • Target Price: ₹695 (earlier ₹670)
• • Company expects a gradual recovery through FY26 as headwinds in edible oil & food business normalise
• • With GST rate cuts in large categories, mgmt. expects demand trends to improve in H2
• • Near-term could see some de-stocking
• MOSL on AU SFB
• • Recommendation: Buy
• • Target Price: ₹875
• • Earnings expected to accelerate from 2H, with favorable risk-reward
• • Loan CAGR estimated at 24% over FY26-28
• • Growth outlook steady; deposit mobilization to continue at a healthy pace
• Citi on Shree Cement
• • Recommendation: Buy
• • Target Price: ₹35,500
• • Cement demand weak in H1FY26 due to early monsoons and anticipation of GST cut
• • Management optimistic of recovery in H2
• • Private capex boost and broader consumption post GST cut expected to be positive
• Jefferies on Vishal Mega Mart
• • Recommendation: Buy
• • Target Price: ₹175
• • Offers superior products at affordable prices on the back of scale
• • Despite soft industry demand, company drives double-digit SSSG
• • Visibility remains high on >80 store additions p.a.
• Jefferies – India Financials
• • Hosted 23 financials at Jefferies India Forum
• • Lenders expect a pickup post GST cut and festive spending
• • Banks see stable/improving asset quality and medium-term benefits from rate cuts and easier competition
• • NBFCs see subdued growth and asset quality in Q2, but expect better trends in H2
• • NIMs should expand Q2 onwards
• Jefferies – Consumer Finances
• • Hosted 8 NBFCs at Jefferies India Forum 2025
• • Most expect subdued growth and asset quality trends in 2Q
• • Optimistic on better trends in H2 due to GST cut and favorable seasonality
• • NIMs should expand Q2 onward due to lower rates, which could cushion drag from higher credit costs
• HYUNDAI MOTOR INDIA : Auspicious start of Navratri, amplified by GST 2.0 momentum, infused strong positivity in the market - ET NOW
• On Day 1, recorded ~11,000 dealer billings, the highest single-day performance in 5 years
• A clear testament to robust festive sentiment and customer confidence
• Anticipating sustained festive demand going forward
• MARUTI SUZUKI : Customer response has been phenomenal; something not seen in the last 35 years - ET NOW
• On Day 1, recorded 80,000 enquiries and delivered over 25,000 cars
• Deliveries expected to touch 30,000 shortly
• Received 75,000 bookings on the day of additional price reduction announcement
• Nearly 15,000 bookings coming in daily, about 50% higher than usual
• Strong demand for small cars, with bookings up nearly 50%
• Enquiries remain very high; risk of stock-outs for some variants
• Compared to last year, the overall response is exceptionally strong
• PHONEPE: FY25 REVENUE UP 40 PERCENT YOY TO ₹27,115 CR, EBITDA DOUBLED TO ₹1,477 CR
• Company reported positive adjusted EBIT (excluding ESOP costs) for the first time at ₹117 Cr.
• Growth supported by payments, financial services, loan distribution, and stock broking.
• PhonePe plans to file its DRHP later this year for a potential Indian listing.
• VEDANTA: GOVT DIRECTS ONGC TO TAKE CONTROL OF OIL & GAS BLOCK AFTER DENYING VEDANTA RENEWAL REQUEST
• This is the first instance of a contract renewal being rejected, impacting Vedanta’s production.
• ONGC’s operational footprint and resource base will expand with this transfer.
• Vedanta has filed a petition in the Delhi High Court challenging the government’s decision.
• SHILPA MEDICARE: EMA APPROVES RIVAROXABAN ORODISPERSIBLE FILMS (10/15/20 MG) BIOEQUIVALENT TO XARELTO
• This is the first orodispersible film version of Rivaroxaban in Europe, designed for geriatric patients.
• Drug is indicated for treatment of DVT, pulmonary embolism, and prevention of stroke and heart attack.
• Approval granted from Bengaluru Unit VI, which is cleared by USFDA, EMA, and UK MHRA.
• SAHANA SYSTEMS: SUBSIDIARY SOFTVAN WINS ₹16.42 CR RAILTEL CONTRACT FOR AI-POWERED SOLUTIONS
• Order covers deployment of dredger software, GPU servers, CCTV, VSAT connectivity, ICCC systems, and high-capacity storage.
• Project marks entry into defense-grade surveillance and marine digital solutions.
• Contract will enhance RailTel’s offshore internet, connectivity, and command-and-control capabilities.
• AVRO INDIA: INSTALLS NEW INJECTION MOULDING MACHINE, CAPACITY RISES BY 2 LAKH UNITS TO 44 LAKH PCS
• The new machine became operational in September 2025.
• Expansion cost ₹27.1 lakh, funded through internal accruals and finance.
• Increased capacity will support multiple product lines.
• ACME SOLAR: SECURES ₹1,100 CR REFINANCING FROM SBI FOR 300 MW RAJASTHAN PROJECT
• SBI to provide refinancing with \~17-year tenure for the operational 300 MW solar project.
• Financing cost reduced by \~100 bps, strengthening margins and cash flows.
• Project already rated CRISIL AA-; refinancing supports potential credit upgrades.
• Rajasthan project has been operational for \~6 months, maintaining optimum CUF levels.
• ACME’s total portfolio stands at 2,890 MW across solar, wind, storage, and hybrid energy.
• DYNAMATIC TECHNOLOGIES: LARGE TRADE
• SAMENA SPECIAL SITUATIONS SOLD 62,600 SHARES AT RS 7,302.72 APIECE.
• ZAGGLE PREPAID: PARTNERS WITH MASTERCARD TO LAUNCH CO-BRANDED PREPAID CARDS
• Agreement signed with Mastercard Asia Pacific to launch and promote domestic prepaid cards.
• Mastercard to provide incentives to support Zaggle in scaling card issuance.
• Contract period runs from 22 September 2025 to 30 September 2030.
• Financial details not disclosed.
• STEEL STOCKS: DGTR RECOMMENDS 5-YEAR ANTI-DUMPING DUTY ON CHINESE STEEL IMPORTS
• Duty proposed to protect Indian steel companies from cheap imports sold below fair value.
• Likely beneficiaries include Tata Steel, JSW Steel, SAIL, Jindal Steel, and other alloy and pipe makers.
• Sectors dependent on imports such as construction, infrastructure, and auto components may face cost pressure.
• Measure aims to ensure fair pricing and sustainability for domestic producers.
• AUTO STOCKS UP ON GOOD NAVRATRI SALES
• MARUTI, HYUNDAI REPORTED STRONG SALES
• MARUTI , HYUNDAI UP 2 % EACH
• BIRLASOFT: SECURES MULTI-YEAR DIGITAL TRANSFORMATION DEAL WITH US CLIENT
• Agreement signed with a US-based industrial manufacturing company for end-to-end digital transformation.
• Scope includes cloud, data, AI, and automation services.
• Deal strengthens Birlasoft’s presence in the US manufacturing vertical.
• Financial details not disclosed.
• CLSA ON POWER
• Downgrade SJVN From Overperform To Hold, Target Price At 90/Sh
• Downgrade SJVN Due To Multi-yr Delay In Two Large Projects & Expensive Valuation
• Upgrade Tata Power From Underperform To Hold, Target Price At 369/Sh
• Power Sector Shift Toward IPPs To Benefit Inexpensive Regulated Utilities NTPC, NHPC & CESC
• TATA MOTORS: Records 10,000 Deliveries & Over 25,000 Enquiries On Day 1 Of Navratri
• Shree Cement Management says Focussed On Organic Growth, Open To Acquisitions, Capacity To Hit 70 mn Tonnes By FY26
• Shree Cement Management says Expect Around 6% Volume Growth In FY26
• JP MORGAN Says Global reset underway, with emerging markets emerging as the biggest casualties
• Exports must be the heart of India's growth strategy
• FY26 inflation seen below 2.5%, boosting purchasing power
• RBI likely to hold rates in October policy meeting
• Nominal GDP growth projected at 8-9% in FY26
• GS on Maruti
• Upgrade to Buy from Neutral; Hike TP to Rs 18900 from Rs 13800
• Potential pickup in the market for entry level cars post GST cuts and price changes by Maruti Suzuki
• Resumption of new model launches after a gap of 2.5 years with the Victoris SUV + eVitara
• Favorable exposure to pay commission in the upcoming auto demand cycle
• Relatively low CO2 risk vs peers heading into CAFE 3 regime in FY28E
• SPICEJET: LONG-TERM RATING UPGRADED TO BB (STABLE) BY ACUITE
• Acuité upgrades SpiceJet’s long-term rating to BB (Stable) citing improved liquidity and financial discipline.
• Fleet expansion plan aims to increase daily flights to 280 with new leased aircraft.
• Debt restructuring agreements with lessors and Carlyle Aviation Partners to ease liquidity and reduce debt burden.
• Revenue outlook expected to improve with diversified streams and higher fleet capacity.