FOMO To FMA -Mixed Global Cues, Strong Domestic Earnings: India Markets Navigate Volatile Session

Global Market Futures (as of 06:43 AM IST)
US Market (Futures)

•       Nasdaq: +0.59%
•       Dow Jones: +0.05%
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European (Futures)

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Asian

•      Nikkei: -0.32%
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Gift Nifty: 26010.00 (+0.02%)

FII and DII Trading Activity November 14, 2025 in Cash market:
FIIs / FPIs: Net Sell of ₹4,882.09 crore
DIIs: Net Buy of ₹8,159.34 crore

Key Quarterly Earnings Update:

Max Healthcare Institute. Q2 (Consolidated YoY)
Max Healthcare reported a strong quarter with profit jumping 74.3% to ₹491.3 crore and revenue rising 25% to ₹2,135.5 crore. Growth was driven by robust operational performance and higher patient volumes.

V2 Retail. Q2 (Consolidated YoY)
V2 Retail returned to profitability with ₹17.23 crore profit versus a loss last year, supported by an 86.5% revenue surge to ₹708.6 crore. Strong festive demand and expanded store activity boosted overall performance.

Narayana Hrudayalaya. Q2 (Consolidated YoY)
Narayana Hrudayalaya posted a 29.6% rise in profit to ₹258.3 crore and a 20.3% revenue increase to ₹1,643.8 crore. Growth reflects improved hospital occupancy, international patient inflow, and stable operating efficiencies.

GMR Power and Urban Infra. Q2 (Consolidated YoY)
GMR Power and Urban Infra saw profit soar 248.2% to ₹888.4 crore and revenue climb 30.8% to ₹1,810.4 crore. The jump was driven by strong project execution and improved performance across key infrastructure segments.

Ashoka Buildcon. Q2 (Consolidated YoY)
Ashoka Buildcon reported an 82.9% profit decline to ₹78 crore and a 25.6% revenue fall to ₹1,851.2 crore, impacted by lower EPC activity. Results included an exceptional loss of ₹219.3 crore compared to nil last year.

Key Corporate & Economy Updates:

Positive:

• A-1 Ltd: Board approves a 1:3 bonus share issue to reward shareholders and enhance stock liquidity.
• Stellar Securities: Board clears plans for capital expansion and a major preferential share issuance to fund growth and strengthen the capital base.
• Morepen Laboratories: Reports Q2 net profit of ₹408.7 million on revenue of ₹4.12 billion, reflecting healthy operating performance.
• Marine Electricals: Secures new orders worth ₹757.1 million, boosting the order book and revenue visibility.
• KPI Green Energy: Bags a ₹6.96 billion contract from SJVN for a 200 MW solar project, strengthening its renewable energy EPC pipeline.
• Dreamfolks Services: Posts Q2 net profit of ₹112.3 million on revenue of ₹2.06 billion, supported by sustained demand for travel-related services.
• Natco Pharma: Approves demerger of its crop division and declares an interim dividend of ₹1.50 per share, targeting value unlocking and shareholder returns.
• Indian Oil: Secures 4 million barrels of West African crude for early 2026 delivery, diversifying crude sourcing and ensuring medium-term supply security.
• DDEV Plastiks: Q2 snapshot shows ₹6.8 billion revenue and ₹471 million profit, signalling steady growth momentum.
• TCPL Packaging: Q2 net profit stands at ₹287.2 million with revenue rising to ₹4.52 billion, indicating improved scale and operating leverage.
• Response Informatics: Expands its global footprint via acquisition of Readymade Poland Sp. z o.o., enhancing European presence and service capabilities.
• Time Technoplast: Q2 net profit rises to ₹1.15 billion on revenue of ₹15.11 billion, reflecting strong demand across key product segments.
• Brand Concepts: Expands its licensing agreement with ABG’s Juicy Couture brand to deepen presence in India’s premium fashion accessories market.
• Rane Holdings: Posts Q2 revenue of ₹13.99 billion, underlining steady growth in its automotive components portfolio.
• Bharat Electronics (BEL): Wins fresh defence and technology orders worth ₹8.71 billion, further reinforcing a robust long-term order book.
• Gayatri Rubbers and Chemicals: Secures a ₹40.3 million order, supporting capacity utilisation and its role within industrial supply chains.
• MRF: Delivers strong Q2 performance with revenue of ₹72.5 billion and profit of ₹5.12 billion; board declares ₹3 interim dividend, reflecting healthy cash generation.
• Precot Ltd: Reports Q2 revenue of ₹2.05 billion and profit of ₹70.3 million, marking a profitable operating quarter.
• Cosmo First Ltd: Launches a 50:50 joint venture with South Korea’s Filmax Corporation to expand global specialty films footprint and technology access.
• Refex Industries: Secures a ₹1.656 billion fly ash transportation order from a state GENCO, enhancing revenue visibility in infrastructure-linked services.
• Rossell Techsys Ltd: Recognized by Lockheed Martin as an outstanding supplier, strengthening credentials in global aerospace and defence supply chains.
• SJVN Ltd: Marks a major milestone as 660 MW Buxar Unit-I commences commercial operations, adding to its generation capacity.
• Greenleaf Envirotech: Obtains an electric contractor licence from the Gujarat government, enabling participation in larger state-level projects.
• ITCONS e-Solutions: Wins a ₹44.8 million manpower services contract from a Uttar Pradesh state power utility, expanding its public sector portfolio.
• Adani Ports: Announces an ambitious ₹1 trillion investment plan in Andhra Pradesh over the next decade to develop ports and logistics infrastructure.
• Transformers and Rectifiers (India) Ltd: Removed from the World Bank debarred list, restoring access to multilateral-funded projects and improving market confidence.
• Adani Green Energy: Secures a Letter of Award for 500 MW pumped hydro storage capacity from Assam Power Distribution, bolstering its clean energy storage portfolio.
• Adani Power (LOA): Receives LOA for a 3,200 MW ultra-supercritical thermal power project in Assam, with commissioning to begin in December 2030, strengthening long-term generation visibility.
• Coromandel International: Signs a ₹2,000 crore MoU with the Andhra Pradesh Economic Development Board for major investments, supporting expansion in agri inputs and allied businesses.
• Lupin: Claims 180-day market exclusivity for its risperidone launch in the U.S., creating a potentially high-value window in the export generics market.
• Vijay Solvex Limited: Reported steady Q2 with revenue of ₹6.15 billion and net profit of ₹60.9 million, underscoring operational resilience and stable profitability.
• ACME Solar Holdings Limited: Secured ₹474 million in ‘Change in Law’ compensation, strengthening cash flows by offsetting GST and customs duty impacts on its solar projects.
• Silkflex Polymers (India) Ltd: Commissioned a new facility in Gujarat with 500 tonnes per month production capacity, enhancing manufacturing scale and market reach.
• Siemens Limited: Delivered a robust September quarter with revenue of ₹51.71 billion and net profit of ₹4.85 billion, reflecting strong demand and execution across verticals.
• Fabtech Technologies Ltd: Won an international turnkey order worth ₹6.55 billion for a Saudi–Argentina joint animal vaccine project, boosting export order book and visibility.
• McLeod Russel India Ltd: Q2 net profit surged to ₹291 million on revenue of ₹3.63 billion, driven by better realizations and operational leverage in tea operations.
• Vishnu Prakash R Punglia Ltd: Posted September quarter revenue of ₹2.96 billion and profit of ₹36.5 million, indicating healthy execution in its engineering and construction portfolio.
• Waaree Energies Ltd: Commenced operations at its second solar module manufacturing facility, expanding capacity to capture accelerating renewable energy demand.
• Carraro India Ltd: Reported consolidated revenue of ₹5.86 billion and net profit of ₹317 million in the September quarter, supported by strong demand in driveline and transmission systems.
• Salasar Techno Engineering Ltd: Delivered consolidated income of ₹4.27 billion and net profit of ₹157.8 million, supported by healthy execution in engineering and infrastructure projects.
• Presstonic Engineering Ltd: Secured a ₹5.3 million purchase order from BEML, adding to its order book and strengthening relationships in the defence and heavy engineering ecosystem.
• Jai Balaji Industries Ltd: Reported September quarter revenue of ₹13.53 billion and net profit of ₹264.8 million, reflecting solid performance in steel and related products.
• Wardwizard Innovations & Mobility Ltd: Approved a joint venture and overseas direct investment for EV assembly and battery plants in Saudi Arabia, positioning for global EV market expansion.
• Phoenix Mills Ltd: Increased its stake in Island Star Mall Developers to 58.33%, consolidating control over a key retail asset and reinforcing annuity-led earnings visibility.
• Ortin Global: Incorporated a Dubai entity, strengthening its global footprint and access to international markets.
• Texmaco Rail & Engineering Ltd (Texmaco): Won a ₹127.7 million metro track project, adding to its rail infrastructure order pipeline.
• Brightcom Group: Reported ₹16.44 billion in quarterly revenue, driven by digital advertising growth and scale in its media operations.
• One Mobikwik Systems Ltd / Mobikwik Financial: Deployed ₹10 million into Mobikwik Financial, deepening its presence in digital lending and financial services.
• Sunlite Recycling Industries Ltd: Raised ₹629 million via a preferential share issue, bolstering its balance sheet to support capacity expansion and growth initiatives.
• Advance Agrolife Ltd: Posted Q2 FY26 revenue of ₹2.13 billion and profit of ₹158.8 million, demonstrating sustained growth momentum in the agrochemical sector.
• GMR Power (GMR Power & Urban Infra Ltd): Reported Q2 profit and revenue growth, signalling renewed momentum in its power and related businesses.
• Sequent Scientific Ltd: Posted Q2 FY26 revenue of ₹4.24 billion and profit of ₹147.4 million, reflecting operational improvement in its animal health portfolio.
• SKF India Ltd: Q2 financials underscored industrial strength and resilience, supported by robust demand for bearings and industrial solutions.
• Praveg Ltd: Secured a ₹26.8 million tourism contract from the Gujarat government, enhancing its visibility in experiential tourism and events.
• Tata Steel Ltd: Reported a robust Q2 performance and completed full ownership of BlueScope operations, consolidating its global footprint and value-added portfolio.
• Pinnacle Mobility / Tirumala Tirupati Devasthanams: Enabled clean-energy-powered transit solutions for Tirumala, advancing green mobility adoption in religious tourism corridors.
• Signodrive / Gensol EV Fleet: Signodrive assumed operations of Gensol’s 4,000 EV fleet amid insolvency proceedings, supporting asset utilization and service continuity.
• Brainbees Solutions (FirstCry parent): Q2 FY26 earnings signaled a turning point for India’s leading baby and kids retailer, with improved profitability metrics and scale.
• IFC–Siemens–Fullerton / Hygenco: IFC, Siemens and Fullerton agreed to acquire a 49% stake in Hygenco in a $250 million clean hydrogen deal, providing growth capital and strategic backing to the green hydrogen platform.
• Tata Motors Passenger Vehicles / JLR: Tata Motors PV posts a strong Q2 profit surge despite challenging demand conditions, while JLR revises its FY26 guidance with a cautious stance, balancing robust current performance with medium-term prudence.
• Western Carriers (India) Ltd: Posted Q2 revenue of ₹4.4 billion and net profit of ₹89.5 million, reflecting a steady operating performance without significant earnings surprise.
• Private Sector Banks Re-Rating (Thematic): Six private sector banks are seen with up to 49% upside potential as re-rating candidates, contingent on sustained asset quality and ROE delivery.
• India Auto Industry: Sector accelerates to record sales, supported by GST-driven formalisation and festive demand, underscoring robust consumer appetite for automobiles.
• Pine Labs IPO: Pine Labs lists on NSE and BSE with expectations of a muted debut given a low grey-market premium, indicating tempered near-term sentiment toward new-age fintech listings.

Negative:

• Rana Sugars: Reports a Q2 loss of ₹141.3 million despite revenue of ₹3.45 billion, indicating margin pressures in its sugar operations.
• Kirloskar Pneumatic Company: Receives a demand order and penalty of ₹11.9 million amid regulatory review, posing near-term compliance and financial risk.
• Thirumalai Chemicals Ltd: Gets a tax demand notice of ₹475.3 million, increasing contingent liabilities under regulatory scrutiny.
• Aurobindo Pharma: Receives a US FDA Form 483 with five procedural observations at Apitoria Pharma Unit-I, elevating regulatory risk until corrective actions are completed.
• Omaxe Ltd: Reported consolidated revenue of ₹3.21 billion but a net loss of ₹1.67 billion in the September quarter, indicating continued margin and profitability pressure in its real estate portfolio.
• Shriram Finance Ltd: Faces a tax demand linked to disallowance of input tax credit, introducing potential financial and legal overhang until resolved.
• Hercules Hoists Ltd: Approved voluntary delisting from NSE without providing an exit opportunity for shareholders, raising governance and liquidity concerns for minority investors.
   

Neutral / Other

• Jio Financial Services: Infuses ₹1.67 billion as subscription into Reliance International Leasing, strengthening its emerging leasing and financial services platform.
• Premier Explosives Ltd: Proposes a ₹5 billion investment in Andhra Pradesh to scale defence and aerospace manufacturing capabilities.
• Adani Power: Plans to invest ₹630 billion in Assam, including ₹480 billion for a 3,200 MW thermal power plant, underscoring aggressive capacity expansion.
• Marico: Q2 revenue stands at ₹34.82 billion, reflecting modest growth as the company navigates input cost benefits alongside demand softness and heightened competition in key categories.
• Biocon: Sets up a committee to evaluate strategic options—merger, IPO, or share swap—for its $4.5 billion biologics business, signalling potential value unlocking while outcomes and timelines remain uncertain.
• Unifinz Capital India Ltd: Proposed a bonus issue of equity shares to reward shareholders, signaling confidence in the company’s capital position and growth outlook.
• Hindustan Zinc Ltd: Allotted 308 hectares for mining, supporting long-term production visibility and resource security.
• Valplast Technologies (Valplast): Signed MOUs with Valimpex to enhance operational efficiency, targeting improved cost structures and supply-chain optimization.
• Rail Vikas Nigam Ltd (RVNL): Marked World Quality Month by showcasing innovation and excellence in the Pune Metro project, reinforcing its execution capabilities and ESG credentials.
• Bajel Projects Ltd: Deferred its proposed fundraising while reporting ₹6.14 billion in consolidated revenue for the September quarter, balancing near-term capital-raising caution with ongoing business activity.
• Ester Industries Ltd: Reported September quarter revenue of ₹3.54 billion with a narrowed net loss of ₹157.8 million, indicating operational improvement but an earnings profile still in turnaround mode.
• Capital Trust Ltd: Wrote off unsecured loans and simultaneously entered the gold loan segment, resetting its asset quality while repositioning the portfolio towards collateral-backed lending.

Non-Corporate, Unlisted & Foreign / Macro

1) Zoomcar: Achieved its eighth consecutive quarter of positive contribution profit while significantly narrowing net loss, reflecting improving unit economics and disciplined cost control.
2) India Forex Reserves: India’s forex reserves declined to $687 billion amid continued weakness in currency and gold assets, signalling modest external sector pressure.
3) RBI Banking Data: RBI reported no outstanding central government loans, while Indian banks’ loans rose 11.3% and deposits grew 9.7% as of October 31, reflecting healthy system-level credit expansion.
4) Anti-Dumping Duty – Low Ash Metallurgical Coke: A trade body recommended provisional anti-dumping duties on low ash metallurgical coke imports, potentially supporting domestic producers while raising input costs for dependent industries.
5) PSU Banks & Nifty50: PSU banks led a sharp rebound, helping the Nifty50 close above 25,900 after a dramatic intraday recovery, underscoring risk-on sentiment in rate-sensitive financials.
6) Copper Rush 2026: Three Indian stocks are highlighted as key beneficiaries of a projected copper upcycle into 2026, positioning investors to ride the “red metal” demand boom.
7) Gold & Multi-Asset Funds: Rising gold prices have boosted the performance of multi-asset funds, while flexi-cap funds have maintained steady returns amid market rotation. India became the world’s third-largest buyer of gold ETFs in October.
8) India’s Investor Base: The investor base climbed to a record 13.6 crore, with demat accounts crossing 21 crore, underscoring deepening retail participation in Indian capital markets.
9) Beyond Bull Runs: The surge to 13.6 crore investors is framed as a structural shift in financialization, with implications for market depth, volatility and household asset allocation.
10) JioBlackRock Flexi Cap Fund: JioBlackRock’s new flexi-cap fund garnered a robust ₹15 billion launch corpus and positions itself with a forward-looking strategy, adding competition in the active equity MF space.
11) India Media Industry Outlook: India’s media and entertainment sector is projected to reach $100 billion by 2030, signalling strong long-term growth in content, advertising and digital consumption.
12) ₹11,000-Crore IPO Wave: A ₹110 billion IPO pipeline is set to hit Dalal Street next week, indicating robust primary market momentum and continued depth in equity fundraising.
13) Gold Prices: Gold prices slipped slightly in key cities such as Mumbai, Delhi and Bengaluru for both 24K and 22K, offering marginally better entry points for physical buyers.
14) MNNIT-incubated Startup: An MNNIT-incubated startup launched India’s first homegrown alumni networking platform, showcasing innovation in niche social and professional networking.
15) South Indian Tea Exports: South Indian teas are facing global headwinds, with demand and pricing pressure weighing on export realizations versus more established origins like Darjeeling and Assam.
16) Power vs Connectivity: An insights-led comparison between Electrical Engineering and Electronics & Electrical Communication is guiding students on trade-offs between core power-sector roles and communication/semiconductor careers.
17) RBI & Unclaimed Deposits: RBI has taken charge of ₹8.5 billion in unclaimed deposits from sleeping accounts, reinforcing depositor protection and nudging banks to improve outreach.
18) Japan Skincare Market: Feature highlights eight must-have Japanese skincare products popular with locals and travellers, reflecting rising global interest in J-beauty brands.
19) India WPI Inflation: Wholesale Price Index inflation turns negative in October as food and fuel prices ease, reducing input-cost pressures but also hinting at softer pricing power.
20) RBI VRRR Auction: The RBI conducts a three-day Variable Rate Reverse Repo auction, accepting ₹573.80 billion of bids at a weighted average rate of 5.48%, reinforcing its liquidity absorption stance.
21) India Oil Ministry: Explores a strategic partnership with South Korea to enhance maritime capabilities and energy transport in regional shipping lanes, aiming to strengthen long-term energy security.
22) Indian Rupee: Opens slightly lower at 88.7150 against the US dollar, with the RBI reportedly selling dollars to prevent the currency from breaching its record low.
23) India 10-Year G-Sec Yield: Benchmark 10-year government bond yield inches up to 6.53%, reflecting market caution amid inflation concerns and close tracking of policy signals.
24) India Financial System Update: Government surplus stands at nil, RBI refinance is at ₹81.46 billion and banks borrow ₹8 billion via the Marginal Standing Facility, while the rupee opens weaker, pointing to a tight but manageable liquidity backdrop.
25) Radiowalla – Reliance Retail: Radiowalla partners with Reliance Retail to deploy and manage in-store digital screens, aiming to revolutionize shopper engagement; Radiowalla remains a private/unlisted media-tech player.

Block Deals:

Rain Industries
First Water Fund acquired 26 lakh shares (0.77%) of Rain Industries at ₹120, investing ₹31.2 crore. The shares were sold via a block deal by Haresh Tikamdas Kaswani and K2 Family Private Trust, who offloaded 12 lakh and 14 lakh shares respectively.
Shaily Engineering Plastics
Promoters Amit Mahendra Sanghvi and Laxman Sanghvi sold 1.5 lakh shares (0.32%) of Shaily Engineering Plastics at ₹2,585.1, raising ₹38.77 crore. The stake was purchased by Morgan Stanley IFSC Fund, SI Investments Broking, and Motilal Oswal MF.
Pine Labs
Morgan Stanley Asia (Singapore) bought 14.09 lakh Pine Labs shares (0.1%) at ₹257.5 each, totalling ₹36.28 crore. The transaction involved UBS AG as the seller in this latest secondary market deal for the fintech firm.

Bulk Deals

SAGILITY:
Sagility’s promoter Sagility B.V. sold 76.9 crore shares (16.4%) for ₹3,660 cr at ₹47.6 each, cutting its stake from 67.38% to ~51%. Global and domestic institutions bought major portions: Unifi Capital/Unifi Blend Fund 2 acquired 22.05 cr shares, while ICICI Pru MF, SocGen, Norges Bank (GPFG), and Morgan Stanley Asia Singapore also made sizeable purchases.

On-going IPO:
Last Date: 17-Nov
-Fujiyama Power Systems Ltd
Last Date: 18-Nov
-Capillary Technologies India Ltd

Upcoming IPO:
(19-Nov to 21-Nov)
-Excelsoft Technologies Ltd

Securities Trading Ex-Dividend on November 17, 2025
Arfin India Ltd, Balrampur Chini Mills Ltd,  EPL Ltd, GMM Pfaudler Ltd, Gopal Snacks Ltd, HB Portfolio Ltd, Pearl Global Industries Ltd, Surya Roshni Ltd, 
Securities Trading Ex-Rights on November 17, 2025
Adani Enterprises Ltd, Baid Finserv Ltd
Securities Trading Ex-Income Distribution (InvIT) on November 17, 2025
Altius Telecom Infrastructure Trust
Securities Under F&O Ban on November 17, 2025
SAIL

Source: WOWNEWS24X7,  Moneycontrol, Investing.com