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Paper Arizona Prepares for IPO in 2026 as Revenues Cross ₹100 Crore
business update, Market News - July 1, 2025

Paper Arizona Prepares for IPO in 2026 as Revenues Cross ₹100 Crore

Paper Arizona Prepares for IPO in 2026 as Revenues Cross ₹100 Crore

Paper Arizona, a fast-rising name in India’s B2B supply chain for paper and packaging materials, is gearing up for its debut in the public markets. The company has confirmed its intention to launch an Initial Public Offering (IPO) in the second half of 2026, after reaching a significant milestone—crossing ₹100 crore in revenue in under three years of operation.

Founded in 2022, Paper Arizona has built a digital marketplace that connects buyers and sellers across the paper, pulp, and packaging ecosystem. With India’s packaging demand steadily rising and businesses looking to streamline procurement, the company has emerged as a game-changer in an otherwise fragmented sector.

A Strong Start: ₹100 Crore and Growing

Paper Arizona has reported an annual turnover of over ₹100 crore for FY24–25, a remarkable figure for a company not even three years old. The management expects revenues to rise further in the current year, with internal targets of approximately ₹130 crore for FY25–26.

Much of this growth is attributed to the company’s rapid expansion in North Indian markets, where it has already established a presence in over 10 cities. The startup’s digital-first model has helped it scale quickly while keeping operational costs under control.

Its marketplace serves over 3,500 active businesses, ranging from manufacturers and printers to packaging and FMCG companies, streamlining procurement through transparent pricing, bulk orders, and fast logistics.

IPO in Focus: Raising ₹50 Crore for Expansion

The company intends to secure approximately ₹50 crore via its forthcoming public offering. The capital will be used to enhance infrastructure, including setting up new warehouses, improving logistics, and expanding the company’s presence into eastern and western India.

The company has already undergone IPO readiness assessments from regulatory advisors, receiving green signals to move ahead with the process. Additionally, it has received ₹5 crore in government grants, providing early public funding support for its digital transformation efforts.

According to sources close to the matter, the listing is part of the company’s broader effort to improve credibility among enterprise clients and establish a more formal presence in the highly competitive B2B marketplace segment.

Transforming a Fragmented Industry

The paper and packaging supply chain in India has long struggled with inefficiencies. From pricing opacity and unpredictable delivery timelines to the heavy dependence on middlemen, the sector has been in need of modernization.

Paper Arizona addresses these challenges through a tech-enabled marketplace that offers real-time pricing, easy procurement, and faster fulfilment. By cutting out unnecessary layers in the supply chain, the platform benefits both buyers and sellers.

Clients benefit from price visibility and procurement planning, while sellers gain access to a larger base of verified buyers. This ecosystem-based approach has helped the startup scale at a fast pace.

Geographic and Global Ambitions

Looking beyond Indian borders, Paper Arizona is also planning to enter the Middle East market by 2030. Management believes the region’s demand for packaging materials and its proximity to Indian ports make it a natural expansion territory.

On the domestic front, the company is investing in logistics capabilities and regional sales teams to deepen market penetration across tier-2 and tier-3 cities. With the additional funds from the IPO, Paper Arizona plans to add more product categories and potentially offer credit-based purchasing options for MSMEs.

A Promising Opportunity for Investors

While the company has grown rapidly in a short time, it is also ensuring that its future roadmap is structured. Paper Arizona aims to use data-driven decision-making, automation, and user feedback to refine its platform and remain competitive.

Industry experts suggest that the planned IPO could offer investors exposure to a high-growth business in a traditionally under-digitized space. If the company continues to scale sustainably, it could become one of the early leaders in the digitization of India’s packaging supply chain.

Its focus on sustainable materials, digitized procurement, and transparent trade practices also aligns well with ESG goals, which could attract institutional investors during the IPO process.

Conclusion
Paper Arizona’s announcement to go public in 2026 signals the next stage of evolution for the company. With revenues crossing ₹100 crore, a ₹50 crore IPO in the works, and plans for both domestic and international growth, the startup is positioning itself as a major force in India’s industrial tech landscape.

As the Indian packaging and paper industry continues to grow alongside the e-commerce and FMCG boom, platforms like Paper Arizona could redefine how materials are sourced and supplied across the country. For investors seeking growth, digitization, and disruption in one package, this IPO could be one to watch.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Emmvee Secures ₹1,500 Crore Solar Module Deal Ahead of IPO Launch

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Paper Arizona Prepares for IPO in 2026 as Revenues Cross ₹100 Crore
Market News - June 19, 2025

Influx Healthtech IPO: Strong Demand on Day 1!

Influx Healthtech IPO: Strong Demand on Day 1!

The ₹55.63 crore SME IPO of Influx Healthtech opens to investor interest amid solid grey market premium; analysts watch subscription numbers and market sentiment for early cues.

Summary:
Influx Healthtech launched its initial public offering (IPO) on June 18, targeting ₹55.63 crore via the SME route. The initial public offering (IPO), valued between ₹91 and ₹96 per share, is set to close on June 21, with shares expected to start trading on the NSE SME on June 25. Early interest, reflected in grey market premiums, suggests investor optimism. This article explores key IPO details, valuation, GMP trends, risk factors, and what investors should watch before applying.

IPO Overview: Influx Healthtech Hits the Market
Influx Healthtech Limited, a technology-focused company in the healthcare industry, launched its SME IPO for public subscription on June 18, 2025. The firm aims to raise ₹55.63 crore through a fresh issuance of equity shares. The price range is set between ₹91 and ₹96 per share, with investors able to bid in lots of 1,200 shares, requiring a minimum investment of ₹1,15,200 at the upper end of the price band.
The IPO will be open for subscription until June 21. Allotment details will be finalized by June 23, and shares are anticipated to be credited to demat accounts by June 24. The company’s shares are expected to start trading on the NSE SME platform on June 25.

Company Profile: A Tech-Driven Healthcare Innovator
Influx Healthtech Limited operates at the intersection of technology and healthcare, offering a suite of health-tech services ranging from AI-powered diagnostics, telemedicine platforms, to digital patient management systems. The company focuses on digitizing the healthcare value chain by working with hospitals, diagnostic labs, and individual practitioners.
Their platforms aim to solve key inefficiencies in the healthcare sector, such as patient engagement, appointment scheduling, and diagnostic result delivery. Given the rising demand for healthcare digitization in India and globally, Influx Healthtech is attempting to tap into a high-growth niche.

IPO Structure and Utilization of Proceeds
The ₹55.63 crore IPO is a 100% fresh issue, with no offer for sale (OFS) component. This means that all the proceeds will directly go to the company for its growth and expansion plans. According to the red herring prospectus:
₹20 crore will be used for technology upgradation and product development.
₹15 crore is allocated for marketing and client acquisition.
₹10 crore for infrastructure expansion, including setting up regional offices.
The remaining funds will go towards working capital and general corporate purposes.

Financials Snapshot
As per the company’s financial disclosures:
Revenue for FY24 stood at ₹35.8 crore, up from ₹24.3 crore in FY23 — a YoY growth of 47%.
Profit After Tax (PAT) rose to ₹6.9 crore in FY24 from ₹4.1 crore in FY23.
The company has achieved a robust EBITDA margin of 18.6%, highlighting its operational efficiency.
Debt levels are minimal, improving their financial risk profile ahead of listing.

Grey Market Premium (GMP) and Market Sentiment
As of Day 1, market observers report a Grey Market Premium (GMP) of ₹20–₹24 per share, indicating that the IPO is likely to list at a premium of 20–25% over the upper price band of ₹96.
The GMP trend reflects strong investor confidence and favourable sentiment towards tech-enabled SME companies. However, investors must be cautious as GMP is unofficial and speculative in nature.

Key Dates to Remember
EventDate
IPO Opening Date June 18, 2025
IPO Closing Date June 21, 2025
Basis of Allotment June 23, 2025
Credit of Shares June 24, 2025
Listing on NSE SME June 25, 2025

Valuation & Peer Comparison
At the upper price band of ₹96, Influx Healthtech is valued at a P/E ratio of around 20x based on FY24 earnings. This valuation is competitive when compared to other tech-based SMEs in the health sector, such as Docmode Health or Medtech Solutions, which are trading at P/E multiples of 25–30x.
Analysts suggest that while the valuation appears reasonable, growth sustainability and execution in the B2B health-tech domain will be critical for long-term gains.

Risk Factors to Consider
Despite the strong growth trajectory, investors should note the following risks:
Client concentration risk – a significant portion of revenue comes from a handful of hospital networks.
Tech dependency – any breach, bug, or tech downtime could significantly impact operations.
Regulatory challenges in healthcare data privacy and compliance could arise with scale.
Limited track record – while growth is visible, the company is still in the early stages of scale.

Analyst Views
Brokerage firms tracking the SME IPO space have issued a “Subscribe with Caution” recommendation. While the company’s strong growth, lean balance sheet, and sectoral tailwinds are promising, the relatively short operating history and high competitive intensity in health tech raise concerns.
Retail investors with a moderate risk appetite and long-term view may consider subscribing to the issue.

Conclusion
Influx Healthtech’s IPO comes at a time when digital transformation in the healthcare industry is accelerating. With a niche presence, healthy financials, and reasonable pricing, the IPO has generated justified market interest. However, investors must weigh the growth prospects against sector-specific risks and evolving regulatory frameworks.

 

 

 

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Foxconn Strengthens India Presence Amid Global Asset Shift

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Bharti Airtel Stock Hits Fresh 52-Week High on Strong Market Momentum
Market News - June 18, 2025

Aditya Birla Capital Hits 52-Week High Amid Strong Market Momentum

Aditya Birla Capital Hits 52-Week High Amid Strong Market Momentum

Aditya Birla Capital Limited (ABCL) has captured market attention after its stock surged to a new 52-week high on the National Stock Exchange (NSE). On June 17, 2025, the company’s share price touched ₹259.30, driven by consistent bullish sentiment and increased investor confidence. This significant milestone reflects the market’s optimistic outlook towards the company’s financial health and growth prospects.

Technical Indicators Signal Bullish Breakout

The stock’s recent movement has shown strong technical support, indicating a bullish breakout pattern. Aditya Birla Capital’s share price has not only crossed its previous resistance levels but is also trading well above its key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This multi-level support signals a sustained uptrend.

Technical experts highlight that the Relative Strength Index (RSI) currently ranges between 60 to 75, which shows that the stock has healthy momentum but is not yet in the overbought zone. In addition, recent trading sessions have seen a notable increase in volume, further confirming the strength behind the stock’s rally. Analysts suggest that immediate targets now lie at ₹309 and ₹342, with key support expected around ₹233 to ₹242.

Strong Quarterly and Annual Financial Performance

Aditya Birla Capital’s recent financial results have supported this bullish momentum. For the quarter ending March 2025, the company reported impressive revenue of ₹12,214 crore along with a net profit of ₹691 crore. On an annual basis, the company achieved a revenue of ₹40,590 crore and posted a net profit of ₹2,993 crore for the fiscal year 2025.

These figures mark a noticeable improvement from the previous fiscal year. In March 2024, the company reported revenue of ₹34,506 crore with a net profit of ₹3,135 crore. Although the profit slightly dipped on a year-on-year basis, the improvement in revenue and steady operational growth have reinforced investor trust.

The company’s book value per share also improved from ₹110 in the previous year to ₹116 in the latest fiscal period, indicating stronger asset backing for shareholders.

Valuation Metrics and Financial Ratios

Aditya Birla Capital’s financial ratios reflect a stable and well-rounded financial position. As of March 2025, the company’s Return on Equity (RoE) stands at 10.96%, while the Return on Capital Employed (ROCE) is steady. The company’s debt-to-equity ratio is currently around 4.59, showing high leverage, but this is typical in financial services and lending businesses.

The stock is currently trading at a Price-to-Earnings (P/E) ratio of 14.46 and a Price-to-Book (P/B) ratio of 1.59, suggesting that the stock is moderately valued compared to the sector. However, some analysts point out that the rising stock price may lead to an increase in valuation levels if the rally continues.

Robust Technical and Fundamental Setup

The stock’s bullish setup is further supported by key technical patterns, including a confirmed breakout from a falling wedge and the formation of bullish candles over consecutive trading sessions. The stock’s price has comfortably breached its 52-week high, supported by rising trading volumes and strong investor participation.

Year-to-date, Aditya Birla Capital’s stock has gained nearly 40%, significantly outperforming broader market indices which have posted modest gains of around 5% during the same period. This strong relative performance highlights the company’s leadership position in the financial services sector.

Potential Risks and Cautionary Notes

Despite the strong rally, investors should approach with caution. The stock’s elevated Price-to-Earnings ratio suggests that further price appreciation may depend heavily on continued earnings growth. Moreover, the company’s relatively high debt level could pose risks if macroeconomic conditions change or if interest rates rise in the future.

There is also a possibility of profit booking in the near term, especially after the recent sharp uptrend. Analysts recommend keeping a close watch on support levels between ₹233 and ₹242 to safeguard positions against potential downside corrections.

Future Outlook: Bullish with Disciplined Approach

Looking ahead, Aditya Birla Capital is expected to maintain its growth momentum driven by expanding assets under management, increasing loan disbursements, and improving asset quality. The company is well-positioned to benefit from India’s strong credit demand and favorable interest rate environment.

While the medium to long-term outlook remains positive, market experts advise investors to adopt a disciplined approach with defined entry points and strict stop-loss levels. With near-term targets set at ₹309 and ₹342, the stock offers attractive potential, provided investors manage risks carefully.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Pharma Stocks Decline Sharply Amid Fresh US Tariff Concerns

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Global Ambitions: Sudarshan Pharma’s Strategic Expansion and Funding Drive
Market News - June 18, 2025

Pharma Stocks Decline Sharply Amid Fresh US Tariff Concerns

Pharma Stocks Decline Sharply Amid Fresh US Tariff Concerns

Indian pharmaceutical stocks experienced significant declines on June 17, 2025, following renewed concerns over potential tariff impositions by the United States. This unexpected development sparked widespread selling pressure across the sector, leading to sharp price corrections in both large-cap and mid-cap pharma companies.

Key Stocks Affected in the Pharma Sector

The biggest intraday decline was observed in Sigachi Industries, which fell by over 8% during the trading session before slightly recovering. Other mid-sized pharmaceutical firms like Shilpa Medicare, Suven Life Sciences, Wockhardt, and Eris Lifesciences also faced considerable selling pressure, with their share prices dropping between 3% and 5%.

Among the heavyweight stocks, Sun Pharmaceutical Industries Ltd saw its shares decline by nearly 3%, closing at approximately ₹1,641. Lupin Limited, another major pharma player, also suffered losses of around 3.3% by the end of the day. This broad-based sell-off pulled down the BSE Healthcare Index by around 1.8%, while the Nifty Pharma Index recorded a fall of close to 2%.

The Catalyst: US Tariff Threat Resurfaces

The primary trigger behind this sharp fall was a fresh warning from former US President Donald Trump, who indicated that new tariffs on pharmaceutical imports could be announced soon. Trump’s statement caused significant concern among investors, as Indian pharmaceutical companies rely heavily on the US market, which contributes approximately 30–40% of their revenues.

Any imposition of tariffs by the US could directly impact profit margins and sales volumes for Indian drug manufacturers, especially those engaged in the export of generic medicines. The fear of reduced competitiveness in the US market prompted traders to exit their positions quickly, leading to a sharp price correction across the board.

Regulatory Pressures Add to the Weakness

In addition to tariff concerns, regulatory challenges further weighed on the pharma sector. It was reported that Sun Pharma’s manufacturing plant in Gujarat came under scrutiny after receiving observations from the US Food and Drug Administration (FDA), sparking concerns about possible compliance challenges. This regulatory development played a role in the decline of Sun Pharma’s share price and further deepened the negative sentiment across the pharmaceutical sector.

Such regulatory warnings can have serious financial consequences, as they may delay product approvals and affect exports to the crucial US market. Investors remain cautious as regulatory inspections and outcomes have historically triggered volatility in pharmaceutical stocks.

Broader Market Sentiment Turns Cautious

The negative sentiment in the pharmaceutical sector also dragged down broader markets. That same day, the Sensex fell by around 213 points, and the Nifty 50 Index dropped by almost 93 points. Although the losses were concentrated in pharma stocks, the overall mood on Dalal Street turned cautious as traders weighed the potential implications of the US policy stance.

Market analysts believe that the uncertainty regarding upcoming tariff decisions may keep the pharma sector under pressure in the near term. The situation remains delicate as the next official policy announcement from the US administration is expected by July 9, 2025.

Expert Opinions on Market Direction

Several brokerage firms and market experts have expressed concerns about the sector’s short-term prospects. According to analysts at Bajaj Broking, the tariff threat could limit upside potential in pharma stocks despite their generally strong fundamentals. Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services, also advised caution, stating that investors may continue to book profits in pharmaceutical stocks until there is clarity on the US tariff policy.

While the long-term growth story for the Indian pharmaceutical industry remains intact, these immediate geopolitical and regulatory headwinds could weigh on stock performance in the coming weeks.

Investor Strategy: Cautious Yet Watchful

Given the current scenario, market participants are adopting a more selective and risk-managed approach to pharmaceutical investments. Traders are closely watching support levels and potential buying opportunities if the stocks correct further.

Investors with existing positions in pharma stocks may consider placing strict stop-loss orders to protect against additional downside risks. Experts also recommend focusing on companies with robust balance sheets, strong compliance track records, and diversified market exposure to minimize tariff-related risks.

Outlook Remains Mixed in the Short Term

While India’s pharmaceutical sector continues to enjoy global leadership in the generics space and remains a critical supplier to international markets, the combination of tariff uncertainties and regulatory challenges presents a tricky situation for investors.

The sector is expected to remain volatile until the US administration provides a clear policy direction regarding pharmaceutical imports. Until then, cautious optimism and disciplined investment strategies may be the best approach for navigating this turbulent phase.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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UGRO Capital Acquires Profectus Capital in Ambitious ₹1,400 Crore Deal

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MRF Shares Soar Above ₹1.5 Lakh, Reaching a 52-Week Peak!
Market News - June 3, 2025

Sarveshwar Foods Shares Rally Despite Market Crash, Driven by Strong Q4 Earnings

Sarveshwar Foods Shares Rally Despite Market Crash, Driven by Strong Q4 Earnings

In a rare positive move on an otherwise bearish trading day, Sarveshwar Foods Limited witnessed a sharp rise in its share price, defying broader market trends. While the benchmark indices saw a massive decline due to political uncertainty and investor panic, this FMCG penny stock gained over 6%, drawing attention for its resilience and financial performance.

Impressive Q4 FY25 Financial Results Lead the Rally

The primary reason behind the sudden surge in Sarveshwar Foods’ stock was its robust quarterly earnings for the January–March 2025 period. The company reported a consolidated net profit of ₹8.61 crore for Q4 FY25, significantly higher than the ₹4.14 crore it earned during the same quarter last year. This more than 100% jump in profit highlights operational strength and effective cost control.

Revenue also saw a notable boost. The total income for the quarter stood at ₹349.72 crore, up from ₹247.31 crore a year earlier. This nearly 41% growth indicates a healthy demand for its products, both within India and in export markets.

Despite an increase in EBITDA to ₹19.55 crore, from ₹17.01 crore in Q4 FY24, the EBITDA margin declined slightly from 6.9% to 5.6%. This drop could be attributed to rising input costs or pricing pressure in certain segments, although the margin still remains within a healthy range for the food sector.

Company Background and Business Strategy

Sarveshwar Foods operates in the fast-moving consumer goods (FMCG) sector, focusing primarily on organic and specialty food items. The company is widely known for its range of basmati and non-basmati rice, which is sold in both domestic and international markets. Its product line also includes pulses, spices, and other grains that cater to health-conscious consumers.

A significant portion of its revenue is derived from exports, where demand for high-quality Indian rice remains strong. The company benefits from a vertically integrated model, which includes sourcing, processing, packaging, and distribution. This arrangement helps maintain strict quality standards while also improving cost-effectiveness.

Why Investors Are Paying Attention

The company’s latest quarterly performance, coupled with its growing presence in the organic food space, has positioned it as a strong player among low-priced FMCG stocks. While traditionally considered a penny stock due to its low trading price, Sarveshwar Foods has proven its ability to deliver consistent financial growth, which is now being recognized by investors.

Additionally, its focus on organic products aligns well with evolving consumer trends, both in India and abroad. As health awareness grows, demand for natural, chemical-free foods is expected to rise, and companies like Sarveshwar Foods are likely to benefit.

Challenges to Watch Out For

Despite recent successes, Sarveshwar Foods faces certain challenges. The company operates in an industry vulnerable to raw material price swings, especially since agricultural commodities can be impacted by weather and policy changes. Rising inflation and logistic costs may also put pressure on profit margins.

Being a relatively small company, Sarveshwar Foods also remains exposed to sharp price movements, speculative trading, and limited institutional coverage. Investors are advised to carefully weigh both the potential gains and associated risks before making any investment decision.

Conclusion

Sarveshwar Foods’ sharp rise on a day of broad market decline has put it under the spotlight. With strong Q4 earnings, a diversified product range, and a firm grip on the organic food niche, the company appears well-positioned for future growth. However, like all small-cap stocks, it comes with its own set of risks that investors must factor in. For now, its resilience amid market volatility and consistent earnings make it one of the more promising names in the FMCG penny stock category.

 

 

 

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Nomura Elevates Nifty Target: 17 Stocks to Watch!

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https://www.equityright.com/mrf-reclaims-indias-most-expensive-stock-title-from-elcid-investments/
Market News - June 3, 2025

Nomura Elevates Nifty Target: 17 Stocks to Watch!

Nomura Elevates Nifty Target: 17 Stocks to Watch!

Nomura has lifted its Nifty 50 target by 1,170 points, setting it at 24,370 for December 2025. This decision is attributed to a solid performance in earnings during Q4FY25 and positive trends across different sectors. Furthermore, the company has identified 17 leading stock picks that are expected to drive market growth in the future.

Summary:
Global brokerage firm Nomura has revised its Nifty 50 target for December 2025 from 23,200 to 24,370, reflecting optimism about India’s economic resilience and market strength despite modest downward earnings revisions. Backed by robust Q4FY25 corporate performance, Nomura also unveiled 17 preferred stock picks across financials, infrastructure, FMCG, and technology, positioning them as key beneficiaries of India’s structural growth story.

Nomura’s Bullish Recalibration Reflects Confidence in Indian Market Fundamentals
Japanese financial services major Nomura has revised its Nifty 50 target to 24,370, representing a 5% upside from current levels. This increase of 1,170 points from its previous forecast of 23,200 is based on the better-than-expected performance of Indian corporates in Q4FY25, despite overall earnings estimates for FY26 and FY27 seeing modest cuts. The strategic upgrade underlines India’s standing as one of the most attractive emerging markets globally, buoyed by structural economic reforms, resilient domestic demand, and favourable policy dynamics ahead of the 2025 Union Budget.

More Hits Than Misses in Q4FY25 Earnings Season
Nomura’s revised outlook follows a detailed post-earnings assessment. While consensus earnings estimates for FY26 and FY27 have been trimmed by 2.3% and 1.4%, respectively, analysts observed that more companies exceeded expectations than those that missed.
This trend was notably strong in financials, autos, and infrastructure, where operating leverage, margin expansion, and improving credit metrics played a role. Additionally, companies with domestic revenue drivers showed better resilience compared to export-oriented players hit by global demand softening.
Nomura highlighted that although the overall market earnings growth has slightly slowed down, the underlying earnings momentum is still strong. Quality growth stocks continue to perform well, which supports the upward revision of the Nifty forecast.

Sector-Wise Commentary: Financials, Infrastructure, and Consumption Lead
Nomura’s analysts remain positive on banking and financial services, particularly large-cap private banks, due to robust credit growth, improving net interest margins (NIMs), and declining NPAs. The capex cycle revival, both public and private, has further reinforced bullishness on infrastructure-linked plays.
The FMCG and consumption segments, despite cost pressures and rural demand weakness earlier in the year, have started seeing volume recovery, especially in Tier 2 and 3 towns. In addition, the technology sector, although currently dealing with a worldwide decrease in voluntary IT expenditures, is anticipated to find stability by the end of FY26, as projected by Nomura.

Nomura’s 17 Stock Picks: Key Drivers of the Next Market Rally
Nomura unveiled 17 top stock picks strategically curated to benefit from India’s structural economic momentum. These stocks cover various sectors, including financials, infrastructure, consumption, technology, and energy, showcasing a diverse investment in India’s multiple growth drivers. Below are some notable names from key industries:
Financials & BFSI:
ICICI Bank
State Bank of India (SBI)
HDFC Bank
Axis Bank
Infrastructure & Capital Goods:
Larsen & Toubro (L&T)
Siemens
Kalpataru Projects International
Consumer & FMCG:
Hindustan Unilever (HUL)
ITC
Trent Ltd
Technology:
Infosys
Tata Consultancy Services (TCS)
Auto & Ancillaries:
Mahindra & Mahindra (M&M)
Maruti Suzuki
Energy & Utilities:
NTPC
Reliance Industries Ltd (RIL)
Healthcare:
Cipla
Nomura believes these companies offer a mix of earnings stability, policy-driven tailwinds, and sectoral leadership, making them strong candidates to outperform in the next fiscal year.

Key Market Assumptions Behind Nifty Upgrade
Nomura’s revised Nifty target is premised on several key macroeconomic and market assumptions:
Stable Interest Rates: RBI is expected to maintain a balanced stance, ensuring liquidity support without aggressive tightening.
Capex Momentum: Sustained public capex and private sector investment pick-up, especially in roads, railways, and green energy.
Healthy Corporate Balance Sheets: Improved leverage ratios, lower financing costs, and better working capital management.
FPI Inflows: With global risk appetite improving, India is likely to see steady inflows from foreign investors, particularly into high-growth sectors.
Stable Political Environment: Post-election continuity in economic policy is anticipated, supporting investor confidence and reform continuation.

Risks to Outlook: Global Volatility, Inflation and Monsoon Dependence
While the overall outlook remains positive, Nomura cautioned about certain downside risks:
Geopolitical Tensions: Ongoing conflicts or oil supply shocks could pressure India’s import bill and inflation.
Delayed Consumption Recovery: A prolonged rural slowdown or weak monsoon may impact discretionary demand and FMCG volumes.
Global Growth Uncertainty: Weakness in developed markets may affect export-heavy sectors, including IT and pharma.
Nonetheless, Nomura maintains that India remains “better positioned than peers” to navigate global volatility due to its robust domestic demand engine and strong policy framework.

Conclusion: Structural Bull Case for India Remains Strong
Nomura’s upgraded Nifty target and carefully selected stock picks reaffirm the brokerage’s long-term bullish view of India. Despite short-term earnings estimate reductions, the consistent earnings delivery by core sectors, resilient domestic macro fundamentals, and ongoing investment cycle provide a sturdy foundation for sustained market growth.
Investors are advised to focus on fundamentally strong, sector-leading companies with high return ratios, visibility on earnings, and proactive capital allocation policies. As India stands at the cusp of a potential multi-year growth phase, selectively participating in this rally could yield rewarding outcomes for long-term portfolios.

 

 

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Balaxi Pharma’s 14.5% Stock Jump: A Silver Lining in a Tough Quarter

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