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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.

September 15, 2025

  • Daily Morning Report            Date: 15.09.2025
  • NIFTY OUTLOOK: 25114.00 FII 129.58 cr DII 1556.02 cr
  • (15th – 19th September 2025)
  • As discussed in the previous report dated 8th September 2025, market behaviour remained on expected lines as buyers took control and a successful follow-through lifted Nifty to our level of 25130 (high of 25139) after a decisive breakout above 24870.
  • An average bullish candle on the daily chart suggests continued buyer strength. If Nifty decisively crosses 25240, it may rally up to 25365–25490, with a further chance to test 25615.
  • On the downside, support lies at 24889–24863. A breakdown below these may drag Nifty to 24738–24613.
  • Bank Nifty OUTLOOK:
  • SPOT: 54809.30 Pcr: 1.01 Max CE OI: 57000 Max PE OI: 54000
  • On September 12th, 2025, Bank Nifty closed at 54809.30, up 139.70 points (0.26%). The index moved 241.90 points during the session, hitting a high of 54852.25 and a low of 54580.35.
  • Technical View:
  • Support and resistance are at 54590 and 55030.
  • Intraday levels are 54730 (support) and 54890 (resistance).
  • Intraday Strategy:
  • Go long above 54880 with SL 54860 and target 54990.
  • Go short below 54730 with SL 54760 and target 54650.
  • RSI stands at 49.70; below 30 is oversold, above 70 is overbought.
  • Bank nifty Day SMA Analysis:
  • Bank nifty is trading above 5 out of 8 SMA’s (5, 10, 20,150, 200 Day).
  • Bank nifty is trading below 3 out of 8 SMA’s. (30, 50,100 Day)
  • One bullish single candlestick Pattern was identified in bank nifty.
  • • Dragonfly Doji
  • Macros:
  • 1.Dollar index @97.225
  • 2.Vix @ 14.76 (0.05%)
  • 3.Brent crude @ 67.34
  • 4.U.S. 10 years bond yield @ 4.078
  • Note: The most anticipated event is the FOMC meeting on 17th September, where the Street expects a 25 bps rate cut.
  • In India, retail inflation (INCPIY=ECI) rose to 2.07% in August as food prices edged higher, but remained within the RBI’s tolerance band, leaving scope for another rate cut this year.
  • The GST cut effective from 22nd September will help keep inflation in check, with companies already reducing prices. Alongside, India is eyeing a strong festive season, supported by GST reduction and higher tax limits to counter the tariff effect from the US.
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  • Contributed by
  • Ashok bhandari : INH000019549
  • -------------------------------------xxxxxxx-------------------------------------------------------------------xxxxxxx---------------------------------
  • JPMorgan on Tata Tech
  • Target Price ₹570
  • Recommendation Underweight
  • EPS accretive acquisition of German Auto ER&D company
  • Acquisition would add 2% to FY26 revenues and 5% to FY27 revenues
  • View this acquisition as a good one given ES-Tec has grown at a healthy ~20% CAGR over CY22-24
  • @beatthestreet10
  • GOLDMAN SACHS ON HAVELLS INDIA
  • Shares Have Not Corrected Much, Believe Earnings Growth Revival Can Drive Up Multiples
  • Would See Any Share Price Weakness As Opportunity To Build On Positions In The Stock
  • Q2 Will Be Disrupted By GST Implementation Uncertainty
  • Well-Positioned For Growth Revival In Electrical & Durables
  • Maintains Buy; Hikes Target Price To ₹1,720 From ₹1,660
  • @beatthestreet10
  • MORGAN STANLEY ON CPI DATA
  • Disinflationary Pressures To Continue
  • Headline CPI Ticked Up To 2.1% YoY In Aug, Due To Softer Decline In Food Prices
  • Lower CPI Forecast To 2.5% For FY26, Building In A Benign CPI Trend And Deflationary Impact From GST
  • Expect RBI To Ease In Oct Policy With Risk Of Further Easing
  • @beatthestreet10
  • Jefferies on India Strategy
  • Weak FPI positioning & large India underperformance
  • This implies that any potential good news on India-US trade can cause a sharp market upswing
  • But beyond that, returns might be muted given the potentially large equity supply & high PE / weak earnings
  • Strong domestic buying should prevent downside though
  • A sideways market would be great for bottom-up ideas Changes In Model Portfolio
  • Addition/Weight Increase – Bajaj Finance, Radico Khaitan and GMR Airports
  • Deletion/Weight Decrease – Bandhan Bank, ITC & Infosys
  • Move IT to Underweight by trimming the weight of Infosys as AI adoptions weakens the growth outlook and recent upmove captures gains
  • Overweight on lenders is maintained, with Bajaj Finance replacing Bandhan
  • Bajaj Finance could capture any post GST cut consumption upside
  • Add Radico Khaitan, which is a fast growing spirits franchise
  • GST uncertainty on ITC makes us remove the same
  • Add some weight on GMR as it is evolving into a diversified consumer platform from being a utility airport operator
  • @beatthestreet10
  • India considers imposing subscriber cap on satellite broadband companies: ET
  • ANTIQUE ON HINDUSTAN AERONAUTICS
  • Target Price ₹6,360 (maintain Buy)
  • Supply chain challenges easing off
  • According to media articles, HAL has received third delivery of GE 404 engine
  • Expected to receive fourth engine by September end. HAL is also expected to supply first two Tejas MK1A by October
  • Near-term financials may seem a bit volatile on account of supply chain challenges it has been facing to execute the large Tejas Mk-1A order
  • Retain positive stance on the company given the multi-year double-digit earnings growth potential
  • DAM Capital, MOSL, JM Financial, Edelweiss : SEBI eases IPO anchor investor rules, to increase FPI participation
  • BSE, CDSL, Angel One : SEBI Board Meet
  • -Longer term F&O contract is a complex issue, working on the same
  • -There is no update to share currently
  • Prudent Corp : SEBI BOARD MEET
  • -Distributor incentive capped at 1% of first-year investment or maximum Rs 2000 per investor
  • -SEBI introduces additional commission for distributors onboarding new women investors
  • HDFC AMC, ABSL AMC, Nippon India AMC, UTI AMC : Maximum permissible exit load cut from 5% to 3%
  • Mindspace REIT, Embassy Parks REIT, Brookfield, Nexus : SEBI Board Meet
  • - Reclassification of REIT as equity for MF investments
  • Kfintech, CAMS : SEBI Board Meet
  • Introduction of activity-based regulations for RTAs
  • Services for unlisted companies will not come under regulation of SEBI
  • DLF, Signature Global : UP Govt has removed height restrictions on residential buildings in Noida.
  • ANTIQUE ON FMCG SECTOR
  • Sequential recovery continues; latest on-ground interaction with dealers and distribution
  • Nestle distributors witnessed a sequential recovery in dairy and nutrition business while healthy traction continued across beverages, chocolates & confectionary (C&C), and instant noodles
  • ITC foods portfolio performed well, while cigarettes witnessed stable offtake
  • HUL is witnessing sequentially recovery, however, detergent portfolio was impacted owing to heavy monsoons
  • Dabur's offtake remained under pressure due to the beverages portfolio
  • Emami witnessed healthy off-take across most categories
  • Marico's offtake should be stable led by festive season (Pujo) ahead
  • For GCPL, we believe it witnessed healthy offtake in household insecticides led by mosquito infestations
  • Colgate witnessed healthy offtake owing to General Trade (GT) responding well to several trade schemes as well as price hikes taken in the portfolio
  • GST rate cut is expected to drive volume growth (improve to mid-high single digit)
  • Prefer GCPL, Marico and Emami in consumer staples
  • ANTIQUE ON HINDUSTAN AERONAUTICS
  • Target Price ₹6,360 (maintain Buy)
  • Supply chain challenges easing off
  • According to media articles, HAL has received third delivery of GE 404 engine
  • Expected to receive fourth engine by September end. HAL is also expected to supply first two Tejas MK1A by October
  • Near-term financials may seem a bit volatile on account of supply chain challenges it has been facing to execute the large Tejas Mk-1A order
  • Retain positive stance on the company given the multi-year double-digit earnings growth potential
  • VEDANTA: Vedanta’s proposal to simplify its sprawling corporate structure by demerging into five listed entities is now complicated by its bid to take over an ailing Jaiprakash Associates- BL Report
  • JEFFERIES ON GLOBAL EQUITY STRATEGY
  • Thomas Simons expects Fed cuts 25bps, highlights downside risks to labor market, flag end of QT
  • Japanese PM Shigeru Ishiba resigned when clear he was going to be forced out
  • Despite this, GREED & FEAR sees Japanese market continuing to make gains despite tariff concerns boosted by continuing evidence of improving corp. governance
  • Desh Peramunetilleke thinks we could continue to see re-rating of inexpensive Asian markets thanks to weaker dollar, rate cuts, country-specific catalysts
  • GR INFRA : HAM project MH completed-project cost was Rs 907cr
  • NOMURA ON CPI
  • India: Inflation is headed back below 2%
  • CPI inflation rose to 2.1% YoY in August from 1.6% in July, moving back to within the RBI's 2-6% target range, led by easing food price deflation and slightly higher core inflation
  • The rise in core is mainly due to higher gold prices. Underlying inflation measures are closer to 3%, below the RBI core (4.1%) and its 4% midpoint target
  • GST should also be disinflationary. We see downside risks to our CPI inflation forecast of 2.7% in FY26
  • Real GDP growth has surprised higher, but it is exaggerated by low deflators, and the tariff drag is still ahead
  • Expect the RBI's MPC to be forward-looking, especially given the lags in policy transmission, delivering 25 bp cuts in each of October and December to a terminal rate of 5.00% by end-FY26
  • BHARTI AIRTEL : LARGE TRADE
  • 10.5 Lk Shares Change Hands In A Pre-Market Large Trade
  • ETERNAL : LARGE TRADE
  • 29.8 Lk Shares Change Hands In A Pre-Market Large Trade
  • Gujarat State Petronet : Meeting on Oct 17 for restructuring of arms
  • KRBL : Independent Dir Resigns Over 'Inconsistent Board Dynamics With Stakeholder Interests'
  • Reliance : (On Proposed Jio Listing) Eases norms for large IPOs
  • Easing of timelines for minimum public shareholding
  • IMPACT ANALYSIS OF SEBI ANNOUNCEMENTS 
  • +ve Reliance (On Proposed Jio Listing) 
  • Eases norms for large IPOs
  • Easing of timelines for minimum public shareholding 
  • +ve DAM Capital, MOSL, JM Financial, Edelweiss 
  • SEBI eases IPO anchor investor rules, to increase FPI participation 
  • -ve HDFC AMC, ABSL AMC, Nippon India AMC, UTI AMC
  • Maximum permissible exit load cut from 5% to 3%
  • Mixed-Prudent Corp
  • -Distributor incentive capped at 1% of first-year investment or maximum Rs 2000 per investor
  • -SEBI introduces additional commission for distributors onboarding new women investors
  • +BSE, CDSL, Angel One 
  • -Longer term F&O contract is a complex issue, working on the same
  • -There is no update to share currently
  • +ve Mindspace REIT, Embassy Parks REIT, Brookfield, Nexus
  • Reclassification of REIT as equity for MF investments 
  • +ve Kfintech, CAMS
  • Introduction of activity-based regulations for RTAs
  • Services for unlisted companies will not come under regulation of SEBI
  • NUVAMA ON BSE
  • Target price ₹2820 (maintain Buy)
  • From expiry war to tenure tweaks
  • Following SEBI chair Tuhin Kanta Pandey's remarks, a discussion paper on increasing the tenure of index options is expected
  • Market is abuzz with likely contours of the paper and potential changes to derivative expiry days/periods
  • Other alternative actions such as increasing the contract sizes and tightening intraday/EOD exposure limits may also be tweaked
  • In this respect, we reckon that limiting expiries may be most damaging to earnings of exchanges
  • We have modelled in five possible scenarios, throwing up cuts in BSE's FY27E earnings in a range of 19.8% to 38.5%
  • We maintain 'BUY' on BSE with a target price of ₹2,820 (45x Sep-27E EPS + value of CDSL)
  • Will revisit our numbers once clarity emerges on the matter
  • BIOCON Management says Will Apply For Mounjaro Next Year, Market Opens In 2034
  • BIOCON Management says Cranbury, New Jersey Facility Opened To Be Closer To Customers - CNBCTV 18
  • See An Impact On Margin In The Near Term
  • Facility Enables Participation In US Federal Contracts
  • Hindustan Copper: The Copper Miner to The Nation
  • Why Copper & only Hindustan Copper?
  • Despite copper's strategic importance, India has:
  • Only 0.2% of global copper reserves
  • Just 0.12% of global copper mine production
  • But contributes ~2% of global refined copper output
  • This highlights India’s high import dependence.
  • Here is the massive opportunity
  • Hindustan Copper Ltd. (HCL) holds ~40% of India’s copper ore reserves (avg. grade: 0.95%) and is expanding mining capacity from 4 MTPA to 12 MTPA by 2030–31 through capex 4000 cr:
  • Expansion of existing mines
  • Reopening closed mines
  • Launching new mining projects
  • Acquiring new copper deposits
  • #HindustanCopper
  • https://x.com/BeatTheStreet10/status/1967432896773505511
  • ANANT RAJ: GOVT PROPOSES 20-YEAR TAX EXEMPTION FOR DATA CENTRES
  • Policy offers tax holiday up to 20 years for developers meeting targets on capacity, power efficiency, and job creation.
  • Draft National Data Centre Policy includes incentives to boost infrastructure and digital ecosystem.
  • MEITY to seek input tax credit on GST for construction, HVAC, electrical systems, and equipment.
  • AVENDUS ON SP APPARELS
  • BUY, TARGET PRICE 877
  • NIFTY OPENS FLAT
  • TATA TECH UP 2 % ON RECENT ACQUISITION
  • KRBL DOWN 11 % AFTER INDEPENDENT DIRECTOR EXITS
Panchkarma