BOM:500570

Indian Equities Rally on Friday as US-Iran Deal Hopes, Easing Oil Prices Boost Sentiment

Indian benchmark indices rallied on Friday, with the Sensex and Nifty posting their strongest gains in several sessions as optimism surrounding a potential U.S.-Iran agreement and a sharp decline in crude oil prices lifted investor sentiment.The BSE Sensex jumped 1,695.40 points, or 2.3%, to close at 75,527.95, while the NSE Nifty 50 advanced 461.30 points, or 2%, to settle at 23,622.90.Sentiment improved after U.S. President Donald Trump said that negotiations with Iran were nearing completion. Reports indicating that a deal could be finalized in the coming days raised expectations of the reopening of the Strait of Hormuz, easing concerns over global energy supplies. This resulted in a sharp decline in crude oil prices, which further supported risk appetite.On the economic front, the World Bank raised its 2026 growth forecast for India to 6.6% from 6.5%, citing resilient domestic demand, strong rural consumption, and improving urban demand.In corporate developments, Alembic Pharmaceuticals (NSE:APLLTD, BOM:533573) received final approval from the U.S. Food and Drug Administration for its generic version of Retin-A Cream, used in the treatment of acne vulgaris.Tata Motors Passenger Vehicles (NSE:TMPV, BOM:500570) is set to increase vehicle prices by up to 1.5% from July as it seeks to offset rising input costs, according to Reuters reports.

Market Chatter: Tata Motors to Bump Car Prices Again

Tata Motors Passenger Vehicles (NSE:TMPV, BOM:500570) will bump the prices of its vehicles by up to 1.5% starting in July to offset rising input costs, Reuters reported Friday.The price hike would be the second such bump in four months as the firm reels from cost pressures from the Middle East conflict.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Indian Equities Slip Wednesday as IT Stocks Tumble, Oil Prices Rise

Indian equities fell on Wednesday, as IT stocks lost steam, heightened tensions in the Middle East led to rising oil prices, and foreign institutional investor outflows weighed on sentiment.The BSE Sensex slipped 0.4%, or 303.67 points, to finish Wednesday's session at 74,346.17. Likewise, the NSE Nifty 50 tumbled 0.3%, or 77.95 points, to 23,405.60.Investor sentiment dampened as ongoing tensions between the U.S. and Iran led to an increase in oil prices, fueling energy-related pressures, according to a report by The Times of India.Additionally, many IT heavyweights, which had led Tuesday's rally, posted sharp declines.Among the top losers were Tata Consultancy Services (NSE:TCS, BOM:532540), Tech Mahindra (NSE:TECHM, BOM:532755), and HCL Technologies (NSE:HCLTECH, BOM:532281), which plunged over 8%, 6%, and 5%, respectively.Apollo Hospitals Enterprise (NSE:APOLLOHOSP, BOM:508869) led gainers for the day, posting a rise of nearly 3%. Tata Motors Passenger Vehicles (NSE:TMPV, BOM:500570) and InterGlobe Aviation (NSE:INDIGO, BOM:539448) were down around 2% each at the day's close.In corporate news, Bajel Projects (NSE:BAJEL, BOM:544042) bagged a mega engineering, procurement, and construction order for a GIS substation from a data center client in Mumbai. Shares closed 3% higher.Elsewhere, IndiGo, operated by InterGlobe Aviation, said it will discontinue flight operations to and from Manchester effective Aug. 31 amid prolonged airspace restrictions, longer flight times, and higher operating costs.

Market Chatter: Tata Motors to Use Chery's Automaking Platform in Premium EVs

Tata Motors (BOM:500570, NSE:TATAMOTORS) plans to license Chery Automobile's (HKG:9973) Freelander, an automaking platform developed in a joint venture between the Chinese firm and Jaguar Land Rover, Reuters reported Wednesday, citing people familiar with the matter.The Indian automaker plans to incorporate the platform in its electric vehicles under its premium Avinya brand, which will be manufactured at the newly opened factory in Tamil Nadu, according to the report.The first model under the Avinya brand is scheduled to launch in 2027, the report said.Shares of Tata Motors rose nearly 1% in recent trade, while those of Chery Automobile declined nearly 3% at market close.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Tata Motors Passenger Vehicles' Total Sales Rise 42% in May

Tata Motors Passenger Vehicles' (NSE:TMPV, BOM:500570) total sales rose 42% to 59,790 units in May, against 42,040 units sold a year ago, according to a Monday filing to the Indian bourses.Total domestic sales in May also grew 42% to 59,090 units from 41,557 units a year earlier, the filing said.Of the total, electric vehicle sales jumped 85% year-on-year to 10,517 units from 5,685 units.

Nomura Adjusts Tata Motors Passenger Vehicles' Price Target to INR373 from INR390, Keeps at Neutral

Jefferies Adjusts Tata Motors Passenger Vehicles' Price Target to INR300 from INR310, Keeps at Underperform

Tata Motors Passenger Vehicles (NSE:TMPV, BOM:500570) has an average rating of hold and mean price target of 376.78 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

ICICI Securities Downgrades Tata Motors to Add from Buy; Price Target is INR415

Tata Motors' Consolidated Net Profit Rises in Fiscal Q4

Tata Motors' (NSE:TATAMOTORS, BOM:500570) consolidated net profit rose to 17.9 billion Indian rupees in the fiscal fourth quarter ended March 31, from 13.4 billion rupees a year ago.Earnings per share came in at 4.87 rupees from 3.65 rupees a year earlier, the commercial vehicles manufacturer said in a filing to the Indian stock exchanges. The EPS was lower than the 5.64 rupees estimated by analysts polled by Visible Alpha.Revenue from operations in fiscal Q4 increased to 261.0 billion rupees from 218.6 billion rupees a year ago. This was higher than Visible Alpha's estimate of 193.2 billion rupees.The company's board recommended a final dividend of 4 rupees per equity share of 2 rupees each for the financial year ended March 31, to be paid by July 2.

Investec Upgrades Tata Motors to Buy from Hold; Price Target is INR445

Tata Motors (BOM:500570, NSE:TATAMOTORS) has an average rating of buy and mean price target of 527.55 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)