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August 05, 2025

Daily Morning Report Date: 5th August 2025
NIFTY OUTLOOK: 24,722.75 FII: -2,566.51 cr DII: 4,386.29 cr
As discussed yesterday, market behaviour remained on expected lines, as the Nifty rally respected the resistance at 24,730 and closed near that level at 24,722.75.
A small bullish candle on the daily chart indicates diminishing bearish momentum and a possible relief rally for the bulls.
If Nifty breaks above 24,777, it may rally further to 24,830–24,883. On stronger demand, it may test 24,935.
On the downside, 24,670–24,616 may act as immediate support. A break and sustained move below these levels may drag the index down to 24,563–24,510.
Bank Nifty OUTLOOK:
SPOT: 55,619.35 PCR: 0.84 Max CE OI: 57,000 Max PE OI: 57,000
On 4th August 2025, Bank Nifty closed at 55,619.35 with a movement of 315.15 points during the session. The index made a high of 55,752.45 and a low of 55,437.30.
Technical View:
Daily support and resistance are placed at 55,300 and 55,900 respectively.
Intraday Technical Strategy:
Go long above 55,700 with a stop loss of 55,670 and target of 55,790
Go short below 55,530 with a stop loss of 55,560 and target of 55,440
RSI & Moving Averages:
The RSI for Bank Nifty stands at 38.40 (below 30 is oversold, above 70 is overbought).
Bank Nifty is trading above 3 out of 8 SMAs (100, 150, 200-day) and below 5 SMAs (5, 10, 20, 30, 50-day).
A bullish candlestick pattern has been identified in Bank Nifty.
• Hikkake Uptrend
Macros:
1.Dollar index @ 98.53
2.S&P Vix @ 18.14 (-2.35)
3.Brent Crude @ 68.74
4.10 Years bond yield @ 4.201
Note:
Nonfarm payrolls rose by only 73,000 in July, well below the expected 110,000. Additionally, May and June figures were revised downward by a combined 258,000 jobs.
Regarding the Indian economy, U.S. President Donald Trump stated on Monday that he will substantially raise tariffs on Indian goods due to its purchases of Russian oil.
The RBI policy review meeting has begun. Most economists (44 out of 57 polled) expect rates to remain unchanged at 5.5% on 6th August. However, the chances of a rate cut have increased following the recent U.S. tariffs on Indian exports, adding pressure to growth despite subdued inflation.
We need to remain cautious and keep positions light.
Contributed by
Ashok bhandari : INH000019549
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Jefferies on IndusInd BK
Buy, TP Rs 920
Appointed Rajiv Anand as next MD & CEO for 3 yrs Given his longstanding stint at Axis Bank, where he was DMD, see this as key +ve
Reorganization of IIB's top mgt team may be key initial steps
@beatthestreet10
Emkay on Indusind Bank
Maintain Reduce with TP of Rs 700
Positive leadership transition, though near term hurdles persist
Appointment of a seasoned private banker raises hopes of an early turnaround
Near term caution still warranted around margins/asset quality
Believe clarity on the long-term strategic direction may take some more time
@beatthestreet10
Macquarie on Escorts Kubota
Maintain Outperform with TP of Rs 3634
Modest EBITDA beat
New product launch to aid market share gains
Export momentum remains strong, led by supplies to its parent
Believe Escorts will gain market share in H2 led by new model launch and a favourable base
Medium term, export growth bodes well for earnings
@beatthestreet10
CLSA on Sona BLW
Maintain Outperform; Cut TP to Rs 566 from Rs 582
Tough quarter as expected
Much of the headwinds were concentrated this quarter
Most of the headwinds would be limited to this quarter and improve gradually in coming quarters
@beatthestreet10
UBS on MCX
Buy, TP Rs 10000
Con Call 3 key points
focus on launching new products, including cash-settled index options
increase in retail participation, particularly in bullion
efforts to enhance liquidity in electricity derivatives Board approved stock split of 1:5
@beatthestreet10
CITI on IndusInd BK
Sell, TP Rs 765
IIB Board appoints Rajiv Anand as MD & CEO for 3 yrs effective 25th Aug
Key +ves
Seasoned private sector banker with >35 yrs experience
Track record in scaling retail & corp businesses & domain expertise in capital markets, treasury & AMC
@beatthestreet10
SEBI likely to form a specific division to look into manipulation by high frequency trading firms
The division is to currently look into the Jane Street issue
This will eventually be the dedicated department to look into such issues
Large scale manipulations by foreign entities will also be looked into by this dept.
@beatthestreet10
What Happened Yesterday?
Nifty snaps 2 session losing streak, ends in green; led by Heromotoco & Tata Steel
Hero Motocorp Nifty Top gainer up 5% trades at 8 Month High Intraday
Nifty bank closes flat, below 55,700 mark.
Nifty Midcap and Smallcap snap 3 session losing streak
Nifty Metal top sectoral gainer recovers 2.5% off day's low snap 3 session losing streak led by SAIL and TataSteel
Nifty Realty snap 3 session losing streak lead gain Lodha developers & GodrejProp
Nifty IT snap 2 session losing streak led by Techm and TCS.
Nifty Auto, PSU Bank snaps 3 session losing streak.
Nifty pharma snap 2 session losing streak, led by divis lab and laurus labs
@beatthestreet10
HSBC ON MARICO
(CMP: ₹723.30)
MAINTAIN BUY
TARGET PRICE: ₹850
Q1FY26 EBITDA Beat By 1%
Vol Growth With VAHO Also Improving, Growth Outlook Maintained
Copra Volatility Remains Elevated
Guidance For FY26 EBITDA Growth Lowered But FY25-27 Remains Unchanged
Lower FY26 PAT By 4.7%, Raise FY28 By 1%
@beatthestreet10
AVENDUS ON ESCORTS KUBOTA
Target price ₹3260 vs ₹3290 (maintain Reduce)
Expect mid-single-digit growth for ESC in domestic tractor space through FY27E
Factor in export volume CAGR of ~28% through FY27E aided by entry into new markets and new model launches
Expect land acquisition for greenfield plant to conclude by FY26E with SOP by FY29E
Expect steady volumes in construction equipment segment through FY27E
Expect overall volume CAGR of ~7% over FY27
Maintain negative stance constrained by steep valuations
@beatthestreet10
AVENDUS ON MARICO
Target price ₹832 vs ₹810 (maintain Buy)
Raise revenue estimates by ~5% for FY26/27E
Factoring near-term tailwinds from pricing, recovery in VAHO, and sustained traction in the non-oils portfolio
With revenue base expanding faster alongside high RM prices
Expect margins to remain under pressure through FY26
Pencil in EBITDA growth lagging topline in FY26
Expect sharp margin rebound (~20%) by FY27
@beatthestreet10
MOSL ON ESCORTS KUBOTA
Target price ₹3380 vs ₹3327 earlier (maintain Neutral)
Tractor margins improve
Tractor industry outlook positive
Continued market share loss for ESCORTS remains a key concern
CE business recovery may be gradual, impacted by sharp price hikes post new emission norms
Management expects the tractor industry to post 4-5% YoY growth in FY26
Company expects some growth in tractor volumes in FY26
Stock at ~32x/29x FY26E/27E EPS appears fairly valued
@beatthestreet10
MOSL ON ABB INDIA
Target price ₹6000 vs ₹6700 earlier (maintain Buy)
Weakness to persist a bit longer
Results impacted by forex fluctuation and higher costs due to QCO implementation
Ordering activity weak, hopes lie on 2HCY25
Cut estimates by 15%/8%/2% for CY25/26/27 to factor in lower margins
Currently trading at 63.7x/53.6x/45.6x CY25E/CY26E/CY27E earnings
ABB may see near-term underperformance due to margin pressure and slow orders from private and government sectors
сxpect revenue/EBITDA/PAT CAGR of 14%/19%/18% over CY25-27
In the long run, expect ABB to improve margins once QCO implementation stabilizes
Re-rating to higher multiples depends on a clear uptrend in inflows and margins
@beatthestreet10
MOSL ON ADITYA BIRLA CAPITAL
Target price ₹325 vs ₹250 earlier (maintain Buy)
Defying the trend with resilient asset quality amid peer weakness
NIM in the NBFC business witnessed some contraction during the quarter
Management guided for NIM improvement in subsequent quarters supported by a favorable product mix
Expect consolidated PAT CAGR of ~24% over FY25-27
Build in a consolidated RoE of ~14% by FY27
@beatthestreet10
MOSL ON LIC HOUSING FINANCE
Target price ₹670 vs ₹650 (maintain Neutral)
Margin pressure to weigh on loan growth in FY26
Estimate advances/PAT CAGR of ~8%/3% over FY25-27 and RoA/RoE of 1.6%/13% by FY27
Management highlighted intense competition from banks in the super prime segment
Reiterated focus on prioritizing NIM over aggressive loan growth
Management guided for NIM of ~2.6-2.8% in FY26
Estimate NIM of 2.6%/2.7% in FY26/FY27 (vs ~2.8% in FY25)
FY26 will revolve around balancing trade-offs between loan growth and NIM
With no near-term catalyst, reiterate Neutral
@beatthestreet10
AVENDUS ON LIC HOUSING FINANCE
Target price ₹606 vs ₹584 (maintain Reduce)
Expect FY26 loan growth at modest 7% led by lower disbursement momentum
Expect margins to decline to 2.6% with policy rate cuts
No near-term operating leverage; opex to assets to remain largely flat at ~50bps
With better recoveries, expect FY26 Gross Stage-3 to decline to 2.2% from 2.5% in FY25
Expect FY26 RoA & RoE at 1.7% and 14.2% respectively
With modest growth and margin pressure, value at 0.7x Jun-27E
Factoring largely flat earnings CAGR and 13% BV CAGR over FY25-27E
@beatthestreet10
Macquarie on USL
U-P, TP Rs 1250
Pre-1Q largely inline; prestige performance encouraging
Expect 2% Ebitda decline in 1QFY26E
Like healthy growth in prestige segment but remain concerned about impact from sharp tax hike in Maharashtra
@beatthestreet10
CLSA ON SONA BLW (CMP: ₹443)
MAINTAIN OUTPERFORM
TARGET PRICE: ₹566
Q1FY26 EBITDA Margin Was Slightly Lower Than Est, Led By -ve Operating Leverage & Pdt Mix
Rev Declined 5% YoY, As BEV Revenue Declined 25% YoY
Change In Supply Terms From A European EV Customer
Decline In Volumes For A Large EV Customer
Rare-earth Magnet Supply Constraints That Led To A Cut In Pdn For Traction Motor
Uncertainty Due To US Tariffs
@beatthestreet10
Indusind Bank's next big focus is to build a strong management team
Positions like treasury chief, CFO, audit head need to be filled
Process underway to find the most suitable candidate
Need to streamline growth strategy
Need to fill governance and control gaps at the bank
Building stakeholder confidence in a focussed manner
Engaging with regulator to address pending issues
@beatthestreet10
GS on PNB HSg
Buy, TP Rs 1386
View recent de-rating as overdone & presents an attractive entry point given
stable asset quality
expansion in lending spreads despite intensifying competition
Disbursement growth in affordable/emerging markets biz (+30% / +32% YoY in 1Q
@beatthestreet10
IEX July Biz Update:
Electricity traded volume up 25.5% YoY at 12,664 MU
Day-Ahead Market down 9% YoY at 5,510 MU vs 5,056 MU
Real-Time Electricity Market volume up 53% YoY at 5,109 MU vs 3,334 MU
@beatthestreet10
ANTIQUE ON ABB INDIA
Target Price cut to ₹5,863 from ₹7,040; Maintain Buy
Weak quarter with disappointing order inflow
CY25/26 earnings estimates trimmed by 13% and 20%
Margins under pressure; near-term challenges expected to continue
Revenue moderation likely amid slowdown in ordering activity
@beatthestreet10
NUVAMA ON LIC HOUSING FINANCE
Target Price revised to ₹600 (from 630); Maintain Hold
CEO prioritizes NIM protection over growth
Cites weak growth and rising credit costs.
Competition intensifying from state-run banks
Affordable housing disbursals to slow in FY26 after ₹460 Cr in FY25
Valuation cut to 0.8x FY26E BV
@beatthestreet10
NUVAMA ON ABB INDIA
Target Price cut to ₹5,400 from ₹6,650; Downgrade to Hold from Buy
Weak large-ticket order inflows amid cyclical slowdown
Margin pressures expected to continue
EPS cut by 11% (CY25E) and 9% (CY26E)
P/E revised to 55x from 65x
Valuation rolled over to Jun-27E
PAT margin guidance (12-15%) depends on quarterly Ol of ₹3,800-4,000 Cr
Private capex revival and order pipeline key to upside
@beatthestreet10
YATHARTH HOSPITAL & TRAUMA CARE : LARGE TRADE NSE
PURNARTHA INVESTMENT ADVISERS PRIVATE LIMITED BOUGHT 5.78 LKH SHARES ( 0.60 % STAKE ) @ ₹ 649.90 /SHARE
@beatthestreet10
VALIANT LABORATORIES : LARGE TRADE NSE
NECTA BLOOM VCC - NECTA BLOOM ONE SOLD 0.68 LKH SHARES @ ₹ 10.80 /SHARE
MARWADI SHARES AND FINANCE LTD BOUGHT 0.68 LKH SHARES @ ₹ 10.80 /SHARE
@beatthestreet10
AngelOne July Biz Update:
Gross client acquisition up 17% MoM & down 43.6% YoY at 0.64 m
Client base up 1.8% MoM & up 28.8% YoY at 33.06 m
Number of orders up 7% MoM & down 28.2% YoY at 123 m
Avg daily orders down 2.3% MoM & down 31.3% YoY at 5.35 m
@beatthestreet10
RAILTEL: Secures ₹216.81 crore order from Bihar State Electronics Development Corporation for the Safe City project.
The project involves implementation of the Mukhyamantri Surakshit Susaasit Shahar initiative.
Execution is targeted by August 30, 2030.
The order is a domestic government contract and not a related party transaction.
This win adds to *RAILTEL*'s order book and strengthens its position in the smart and safe city segment.
@beatthestreet10
NIFTY JUNE 2026 TGT: 26,700 ; CITI
@beatthestreet10
SADHANA NITROCHEM : LARGE TRADE NSE
ANKITA VISHAL SHAH BOUGHT 19.83 LKH SHARES ( 0.60 % STAKE ) @ ₹ 6.80 /SHARE
@beatthestreet10
CITI Analyst says Headline trends in Q1 are modestly ahead of expectations, with EBITDA up 7% YoY.
However, Citi's forward estimates have seen continued downgrades, with FY26e EPS down 1% since start of the quarter.
While absolute valuation remains high in historical context relative valuations are reasonable.
Improvement in earnings outlook on the back of cumulative policy actions, low inflation & stable macroof cumulative policy actions, low inflation & stable macro fundamentals is key.
Our June 2026 Nifty target is at 26,700.
@beatthestreet10
SUNREST LIFESCIENCES : LARGE TRADE NSE
PROMOTER AMITBHAI SHAMBHULAL THAKKAR SOLD 0.56 LKH SHARES ( 1.30 % STAKES) @ ₹ 52 /SHARE
PROMOTER BHAGYESH KIRITBHAI PAREKH SOLD 0.43 LKH SHARES ( 1% STAKES) @ ₹ 52.01 /SHARE
RIKHAV SECURITIES LIMITED BOUGHT 0.72 LKH SHARES ( 1.67 % STAKES ) @ ₹ 52 /SHARE
@beatthestreet10
ANGEL ONE: Reports strong growth in ADTO and client additions for July 2025.
Client base rose 1.8% MoM to 33.06 million, while total orders processed grew 7% MoM.
Overall ADTO surged 18.6% MoM to ₹41,502 billion, led by 19.1% rise in F\&O turnover.
Equity market share improved to 20.1% and commodity turnover share jumped to 63.7%.
However, cash ADTO declined 12.6% MoM and F\&O premium turnover dipped 9.8%.
@beatthestreet10
JUNE PHARMA DATA (NOMURA)-IQVIA DATA
T3M sales (Jun-25) increased the most m-m for Lupin and Cipla. Sales decreased the most m-m for Zydus dragged due to decline in gRevlimid sales
Ex-gRevlimid, T3M sales increased the most m-m for Lupin, while it declined the most for Biocon dragged by decline in bGlargine sales
REMSONS: Subsidiary Remsons-Uni Autonics secures ₹3 crore order from a leading German OEM.
The order is for supply of Exhaust Gas Recirculation (EGR) sensors over 36 months starting December 2025.
@beatthestreet10
KERALA AYURVEDA : LARGE TRADE BSE
PROMOTER KATRA PHYTOCHEM (INDIA) PRIVATE LIMITED SOLD 2 LKH SHARES ( 1.66 % STAKES) @ ₹ 500.41 /SHARE
@beatthestreet10
VARUN BEVERAGES: Raises stake in South African arm Bevco from 97.42% to 97.92% via loan-to-equity conversion.
Converted ZAR 455.7 million (\~₹2,199.68 crore) loan into 1,005,000 ordinary shares.
Bevco manufactures and distributes PepsiCo and own brands across South Africa, Lesotho, and Eswatini.
@beatthestreet10
SWASTIKA CASTAL : LARGE TRADE BSE
ISHAAN TRADEFIN LLP SOLD 0.76 LKH SHARES @ ₹ 77.40 /SHARE
DEVI TRADERS LLP SOLD 1.36 LKH SHARES @ ₹ 83.21 /SHARE
FORTUNE HANDS GROWTH FUND SCHEME I BOUGHT 1.64 LKH SHARES @ ₹ 83 /SHARE
HORIZON FINANCIAL CONSULTANTS PVT LTD BOUGHT 0.90 LKH SHARES @ ₹ 78.37 /SHARE
@beatthestreet10
KRISHANVEER FORGE: Awards ₹3.85 crore contract to Hyoswil Green Power for 1 MWp solar power plant at Solapur.
The plant will operate under a captive open access model for internal power use.
Installation will be completed in 5 months, followed by 1-month stabilisation.
Project aims to reduce electricity costs and boost profitability through renewable energy adoption.
@beatthestreet10
ANTIQUE ON MARICO
TP raised to ₹863 from ₹789; Maintain Buy
FY26/27 estimates cut by 3%/1% on subdued near-term profitability
Margin pressure from input cost inflation and high A&P spends
Project SETU to drive distribution-led growth in core portfolio
Share of profitable Foods & Premium Personal Care to rise from 20% to 25% by FY27
@beatthestreet10
YASH INNOVENTURES: Cancels proposed “Elite Project” for residential redevelopment due to strategic realignment.
Management cited misalignment with current business priorities as the reason.
Company will now explore alternative opportunities aligned with long-term growth.
The project was initially announced on 25th March 2025.
@beatthestreet10

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