VRIGHT Exchange – Daily Digest | Corporate & Economy Analysis for September 24, 2025

Market Overview
• Indices: Indian equities extended their losses, with the Sensex dropping over 400 points and the Nifty falling below 25,100, marking a four-day losing streak.

• Sector Performance:
o IT: Tech Mahindra and Tata Motors were among the top Nifty losers.
o Midcap & Smallcap: Both indices declined by 0.5%.
o Power, Oil & Gas, Realty: These sectors showed resilience, with gains of 2%, 0.7%, and 0.4%, respectively.

Sector Highlights

IT & Tech
• Persistent Systems: Announced the closure of its trading window ahead of upcoming financial results.

Financials
• Shriram Finance: Continues to project a 15–16% growth trajectory, with credit costs expected to remain below 2.2% in FY26.
• Axis Bank: Maintained a ‘Buy’ rating with a raised target price of ₹1,340 per share.

Auto & Consumption
• Hyundai Motor India: Achieved 11,000 dealer billings on the first day of Navratri, its best single-day performance in five years.
• Maruti Suzuki India: Delivered close to 30,000 cars and received 80,000 inquiries on the first day of Navratri
.
Infrastructure & Real Estate
• KEC International: Secured orders worth ₹3,243 crore in the international transmission and distribution sector, bringing its year-to-date order intake to nearly ₹11,700 crore.
• Brigade Enterprises: Entered a joint development agreement to develop a residential project in Bengaluru with a gross development value of approximately ₹1,200 crore.

Macroeconomic & Regulatory Developments
• GDP Growth Projections:
o S&P Global: Retained India’s GDP growth forecast at 6.5% for FY26.
o OECD: Raised India’s GDP growth forecast to 6.7% for 2025, citing robust domestic demand and favorable monsoon conditions.

• Regulatory Updates:
o SEBI: Amended the Securities Contracts (Regulation) Rules to facilitate smoother entry processes for foreign investors.
o SEBI: Notified amendments to the Minimum Public Shareholding norms to streamline large IPOs.
o SEBI: Raised the minimum net worth requirement for custodians from ₹50 crore to ₹75 crore, effective in six months.

Global Developments
• US Tariffs: Newly imposed 50% tariffs on Indian exports are expected to impact sectors like steel and diamond exports, potentially leading to a 17–20% decline in FY26.
• H-1B Visa Fee: The hike in H-1B visa fees may encourage Indian tech firms to increase local hiring in the US and consider offshoring to mitigate costs.

Investor Insights
• Market Sentiment: Investor sentiment remains cautious amid global trade uncertainties and domestic economic challenges.

• Investment Strategy:
o Large-Cap Stocks: Focus on quality large-cap stocks in sectors like banking, FMCG, and auto for stability.
o Global Diversification: Consider diversifying portfolios globally, particularly in US, EU, and Taiwanese markets, which offer growth potential at more attractive valuations.
o Precious Metals: Allocate a portion of the portfolio to gold and silver as hedges against market volatility.