ELARA SECURITIES
Sell fast, buy faster! FIIs broke every selling record in 2026. Now their buying is breaking records
Foreign institutional investors (FIIs) have staged a sharp turnaround, buying a record Rs 73,261 crore worth of Indian equities in November so far, surpassing the previous monthly high of Rs 66,135 crore set in December 2023. This follows record selling of Rs 2.95 lakh crore in the first 10 months of 2026. The renewed buying has helped drive the Sensex and Nifty up around 10% this month, with the Sensex reclaiming its pre-Middle East war levels.
Tata Steel shares jump 3% after Q2 profit rises 16% YoY. Should you buy, sell or hold?
Tata Steel shares surged over 3% during Muhurat Trading after Q2 FY27 net profit rose 16% year-on-year to nearly ₹3,700 crore. Revenue increased 11.5%, while brokerages maintained Buy ratings, citing improving margins and stronger second-half performance prospects.
Jio Platforms draws bullish bets, analysts see up to 28% upside
Four brokerages have begun coverage on Jio Platforms just before its upcoming listing with favorable ratings. Nomura, Motilal Oswal Securities, and Elara Capital issued 'Buy' ratings indicating significant upside potential. Dolat Capital provided an 'Accumulate' rating with a higher target price suggesting a 28% increase. Analysts believe Jio Platforms may influence tariffs in the telecom industry substantially.
From Dhirubhai Ambani’s Rs 10 crore IPO to Akash Ambani’s Rs 12.5 lakh crore Jio debut: Reliance’s biggest wealth story
Jio Platforms’ Rs 12.5 lakh crore debut marks a new milestone in the Ambani family’s wealth creation journey, tracing Reliance’s evolution from its Rs 10 crore IPO in 1977 to a digital technology giant.
No. 2 on Day 1: How Jio Platforms broke India’s market cap hierarchy in debut trade
Jio Platforms made a blockbuster stock market debut, listing at a 21.3% premium over its IPO price of Rs 1,119 at Rs 1,358 on the BSE. With a market capitalisation of around Rs 12.5 lakh crore, it became India’s second-most valuable listed company after parent Reliance Industries, overtaking Bharti Airtel. The debut also made Jio India’s largest listed telecom company, placing it ahead of major players such as TCS, SBI and Bajaj Finance.
Ambani bluechip bet gets bigger: Investors mark 82% of traded Jio shares for holding beyond listing
Jio Platforms saw nearly 82% of its traded volume marked for delivery on debut, with 10.66 crore shares carried into settlement out of 13.02 crore shares traded. The stock listed at a 21.36% premium to its IPO price, while Nomura, Motilal Oswal and Elara Securities initiated coverage with Buy ratings.
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Isha Ambani says Jio IPO marks a promise, renews Dhirubhai Ambani’s trust with investors
Isha Ambani described Jio Platforms’ stock market debut as a promise to honour the trust of investors and customers, nearly five decades after Dhirubhai Ambani took Reliance Industries public. Jio’s Rs 30,200-crore IPO attracted over Rs 7 lakh crore in demand, with the stock listing at a 21.3% premium.
Double-digit growth seen on corporate scoreboard in Q2, but bank, IT, pharma lag
September quarter earnings exhibited significant revenue and profit growth for various companies in key sectors. Revenue rose by 22.1% with net profit increasing by 27.5%, surpassing the previous quarter. However, banking, IT, and pharmaceuticals sectors experienced a slow down in growth rates. Excluding lending, operating margins improved, indicating stronger performance in non-banking sectors. Analysts expect 13 out of 18 sectors to deliver double-digit sales growth in the coming quarters.
Paint cos riding price hikes to double-digit growth
Domestic paint companies are poised for a 10-15% revenue growth in the September quarter due to price increases. While volume growth is anticipated to remain low at 5-7%, these price hikes will help counteract rising costs. The fluctuations in crude oil prices have significantly impacted the raw material expenses for these companies. Analysts anticipate a decline in EBITDA margins for many companies despite the price adjustments.
Mid and small-cap stocks at 20-year high premium to large caps: Why investors may need to shift fresh money to large caps
In recent times, small and mid-cap stocks have proven to outperform their large-cap counterparts. Despite witnessing market volatility, these smaller equities have continued to attract investor attention and capital inflow. As a result, their valuation levels have surged. Analysts warn, however, that for this trend to sustain, earnings expectations must be fulfilled. Therefore, investors should consider careful portfolio adjustments in response to shifting market conditions.
Elara initiates coverage on Adani Power, sees up to 17% upside as expansion plans gather pace
Elara Securities has initiated coverage on Adani Power with an Accumulate rating and a target price of Rs 220, implying 17% upside. The brokerage expects capacity expansion from 18.3 GW to around 42 GW by FY32 to drive growth, while flagging execution risks, rising debt and limited valuation headroom.
From paneer to pizza, FSSAI puts India’s ₹200 lakh crore consumer boom to the test. Who pays?
The FSSAI's escalated enforcement in consumer sectors in India has led to increased compliance costs for companies. Many brands are now reevaluating their product claims and formulations as they face regulatory pressure. This heightened scrutiny could lead to rising operational costs and may require pricing changes for consumers. The increased compliance standards will likely benefit organized companies while posing significant challenges for smaller, unregulated businesses over time.
Stocks in news: HCL Technologies, DMart, Adani Green Energy, PTC Industries and Anand Rathi Wealth
Indian equity markets showed a significant recovery driven by bargain buying and favorable global cues. The Nifty 50 and Sensex both closed higher, indicating improved investor sentiment. Notable companies reporting earnings include Canara Robeco Asset Management and Avenue Supermarts, among others. Banking stocks are expected to draw attention due to changes in cash reserve ratio requirements by the Reserve Bank of India.
States seek additional power as India faces night-time supply squeeze
Several Indian states, including Rajasthan and Gujarat, are seeking additional power allocations to manage supply shortages. This situation arises as hydropower output has weakened and maintenance at coal plants reduces electricity availability. Power shortages surged significantly in September due to high demand and low generation rates. The federal government is struggling to meet these requests as much of its available power is already allocated.
ET Alpha Wealth Summit 2.0: Date, venue, speakers, agenda and registration
The ET Alpha Wealth Summit 2.0 set to be held on October 8 at ITC Maratha in Mumbai. Leading investment experts will convene to discuss trends affecting capital flows and investment strategies. Keynote speeches and panel discussions will cover topics such as alternative assets, structured debt, and family office investment frameworks. The summit aims to provide insights into evolving wealth creation methodologies and the role of technology in investing.
India power shortfall hits three-year peak despite higher coal burn
India experienced significant power shortages in September, attributed to an increase in industrial consumption and low rainfall. Coal-fired power generation rose sharply, accounting for 66.03% of overall electricity generation. Renewable energy generation increased, but its share in total generation declined to about 17%. Approximately 40% of coal plants were reported to be running with critically low fuel stocks. Overall electricity generation in September increased by 11.3% from the previous year.
Nifty SIP return fails to beat even bank FD over 5 years: Is this the warning sign investors can’t ignore?
New insights reveal that systematic investment plans in the Nifty50 have consistently underperformed, presenting a five-year XIRR of merely 4.5%. This result places Nifty50 below the returns of traditional fixed deposits. In contrast, midcap and smallcap indices have shown impressive gains. Analysts recommend a strategy focusing on individual stock selection and earnings growth rather than relying solely on index performance, prompting a reassessment of index-based investment approaches.
IPO express picks up steam: Anmol Industries, Koolking Industries, 5 other firms file draft papers with Sebi
Seven companies spanning biscuits, beer, HVAC components, agricultural machinery, engineering, edible oils and telecom infrastructure have filed DRHPs with Sebi for proposed IPOs. Anmol Industries is seeking to raise up to Rs 1,800 crore, while five other companies have proposed fresh issues of up to Rs 300–370 crore, alongside OFS components.
ETMarkets Smart Talk | India may see 50 bps of rate hikes in 2026 as Fed tightens: Garima Kapoor
The Fed’s latest rate hike could constrain the RBI’s policy flexibility as India-US bond yield differentials narrow. Elara Securities’ Garima Kapoor expects 25-50 bps of RBI hikes in 2026, while higher US yields and a stronger dollar could pressure FPI flows.
Jefferies hikes Navin Fluorine share price target, forecasts 14% upside. 4 reasons why
Jefferies has retained its Buy rating on Navin Fluorine International and raised its price target to Rs 9,405, citing growth prospects in CDMO, R32 and the Chemours project. The brokerage expects a 23% EPS CAGR through FY29, while the company’s Q1FY27 profit more than doubled year-on-year to Rs 243 crore.
PMS Tracker: East Green, Atlas Integrated Finance, Hem Securities, 7 others deliver up to 14.7% returns in August
Equity PMS strategies posted strong gains during the month, led by East Green Advisors' Quant Strategy, which emerged as the best performer with a 14.73% return for the month ended August 31, 2026.
NSE unlisted shares vs Nifty: Where did investors make more money ahead of mega IPO?
Since September 2021, NSE unlisted shares have surged by over 170%, vastly overshadowing the Nifty 50 index's rise of just 35% within the same timeframe. This remarkable performance indicates a strong advantage of the unlisted shares, which have shown consistent stability over the past year, leading to significant value creation for investors.
FIIs poured nearly Rs 50,000 crore into these sectors in last 2 months. Here’s what they bought
Foreign investors turned net buyers in India, deploying Rs 49,830 crore across sectors in July and August, with consumer services, healthcare, consumer durables, financials and IT emerging as the biggest beneficiaries. The shift reflects stronger domestic growth, better-than-expected Q1 earnings and a stabilising rupee, while telecom, capital goods, power and select other sectors faced sustained selling.
Nifty 30,000 target still on track; why Elara’s Harendra Kumar prefers IT, power and smallcaps
We are telling people that this is the right time to look at the market constructively. Historical evidence suggests that this is the time to invest — after phases like this, FII flows also turn positive. Even now, FII flows are beginning to improve.
Buy, Sell or Hold: Morgan Stanley maintains overweight on Varun Beverages; Nuvama retains hold on Cyient
Morgan Stanley retained its Overweight rating on Varun Beverages with a Rs 557 target, while Nuvama maintained a Hold on Cyient and raised its target to Rs 1,050. Elara Securities retained its Buy rating on Nykaa and increased its target to Rs 475, citing premiumisation, stronger customer quality and growth in online beauty and personal care.
TV ad cap removal to boost inventory, not demand; revenue benefit seen at 1–3%: Elara
The recent removal of the 12-minute advertising cap could lead to a minor uptick in revenue for broadcasters. Still, it's improbable that this will change the industry’s growth direction significantly. The key hurdle continues to be the demand from advertisers, as audiences gravitate towards digital and short-form video content. In this evolving landscape, Sun TV Network is more favorably positioned to capitalize on these shifts than Zee Entertainment.
Gland Pharma shares rally 12% after Q1FY27 profit jumps 47% YoY. Should you buy, sell or hold?
Gland Pharma shares rose sharply after Q1FY27 profit rose 47% and revenue grew 20% year-on-year. While strong margins and CDMO growth prompted Elara Securities to raise its earnings estimates, the brokerage downgraded the stock to ‘Accumulate’ from ‘Buy’ after its 40% three-month rally, citing limited near-term upside.
Elara Securities stays bullish on realty cycle; luxury housing anchors demand momentum
Elara Securities remains optimistic about the Indian real estate market, particularly the luxury housing segment. Strong demand, driven by rising incomes and a preference for branded developers, fuels this uptrend. Absorption rates in top cities surged in the first half of CY25, with luxury properties leading the way.
Buy, Sell or Hold: Motilal Oswal initiates coverage on Inox Wind; Gabriel top pick for Elara Securities
Brokerage firms are bullish on Inox Wind, Gabriel India, and Metropolis Healthcare, citing strong growth prospects. Motilal Oswal initiated a Buy rating for Inox Wind, emphasizing the increasing importance of wind energy. Elara Securities highlights Gabriel India's transition to a multi-product portfolio and EPS-accretive acquisition. Emkay Global remains optimistic about Metropolis Healthcare's growth strategy and resilience in the diagnostics market.
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