Market Bizzz

Market expert Nischal Maheshwari anticipates improved volumes in the FMCG and cement sectors, with potential price hikes in cement. He expects slow growth in the BFSI sector and continued weakness in IT, projecting a lackluster second quarter for IT companies. While tariff clarity is awaited, concerns linger over overall earnings growth.

HCL Technologies reported a 10% YoY decline in consolidated net profit for Q1FY26, falling below Street estimates, while revenue rose 8% YoY. The company declared an interim dividend of Rs 12 per share. HCL Tech anticipates revenue growth of 3%-5% YoY in constant currency and an EBIT margin between 17% and 18%.

Valentis Advisors’ Jyotivardhan Jaipuria suggests focusing on domestic opportunities amid US tariff uncertainty. He favors banking due to attractive valuations and cement stocks, anticipating consolidation to boost earnings. While cautious on consumer staples due to valuation concerns, Jaipuria sees potential in consumer discretionary and advises sticking to domestic names to mitigate tariff risks.

Siemens has secured two significant orders from Maharashtra Metro Rail Corporation. The orders are worth Rs 773 crore. Siemens will provide advanced signalling and telecommunication technologies. These technologies are for the Nagpur Metro Rail project. The project execution will take approximately 42 months. Siemens will design, manufacture, supply, install, test, and commission the systems.

JSW Paints plans to acquire Akzo Nobel India shares. They issued an offer to acquire up to 25.24% of the company’s voting share capital. The offer price is Rs 3,417.77 per share. The total consideration could reach Rs 3,929.06 crore. This follows JSW Paints’ earlier announcement to acquire a 74.76% stake in Akzo Nobel India.

Foreign Portfolio Investors have exhibited a selling trend in Indian equities, with outflows of Rs 555 crore in July, marking a reversal after three months of positive inflows. This shift is attributed to high valuations following a market recovery and the attractiveness of cheaper markets elsewhere.

India’s unlisted equity market faces a sharp correction. Shares of NSE, NSDL, and Tata Capital decline from recent peaks. HDB Financial’s discounted IPO and regulatory actions against Jane Street impact market sentiment. Tata Capital’s rights issue adds to valuation concerns. Analysts suggest a broader valuation reset is underway. Investors are advised to be cautious of valuations and growth potential.

Nvidia CEO Jensen Huang has sold $36.4 million worth of his company’s shares, adding to previous sales under a prearranged trading plan. This move comes as Huang’s wealth approaches Warren Buffett’s due to Nvidia’s success in the AI hardware market. Despite the sales, Huang still holds a significant number of Nvidia shares.

GTPL Hathway reported a 27% decline in net profit, reaching Rs 10.5 crore for the quarter ended June, while revenue increased by 7% to Rs 909.1 crore. The cable TV business saw a slight revenue dip, but the subscriber base remained stable at 9.6 million. Broadband ARPU rose, and data consumption surged, with network expansion continuing.