The Indian stock market is likely to open lower on Tuesday, with GIFT Nifty indicating a marginal decline ahead of the opening bell. At around 7:30 am, GIFT Nifty was trading at 22,814.50, down 10 points or 0.04%.
The Indian benchmark indices are expected to remain under pressure on Tuesday. The marginal decline in GIFT Nifty before the start of trading indicates a weak opening for the domestic market. Investors will track key Nifty support levels as well as corporate developments during the trading session.
On Monday, Indian benchmark indices witnessed broad-based selling pressure. During the session, the Nifty fell below the 22,800 level. According to market analysts, if the Nifty sustains below 22,700, selling pressure could increase. In such a situation, the market will watch the possibility of the index moving towards around 22,400. Global cues and domestic corporate updates could also influence market direction.
Several companies are scheduled to release their quarterly financial results on Tuesday. These include Ansal Properties & Infrastructure, Mysore Paper Mills, Panyam Cements & Mineral Industries and Vipul. Updates related to these results could lead to movement in the respective shares during trading.
Rays of Belief reported a profit of Rs 2.8 crore, compared with a loss of Rs 0.5 crore in the previous period. Revenue during the same period increased 136.4% to Rs 25.3 crore.
Prasol Chemicals reported a 150.7% increase in profit to Rs 61 crore, compared with Rs 24.3 crore in the previous period. The company's revenue also increased 35.7% to Rs 433.6 crore.
Peak XV Partners Investments VI, Sequoia Capital Global Growth Fund III and Redwood Trust may sell a combined 2.73% stake in Honasa Consumer. The offer size is around Rs 400 crore, with a floor price of Rs 450 per share.
HCLTech's software unit HCLSoftware has announced plans to acquire Croatia-based Robotiq.ai. The company provides an enterprise robotic process automation platform. The proposed acquisition is expected to be completed in November 2026.
ITC has acquired 13,445 additional equity shares in Sproutlife Foods, taking its stake in the company to 100%. The acquisition was completed for Rs 645 crore.
The US Food and Drug Administration inspected Zydus Lifesciences' SEZ II manufacturing plant in Ahmedabad between September 21 and September 28. The inspection was completed with one observation, and no observation related to data integrity was recorded.
NCC has received a Letter of Acceptance from the Rural Water Supply and Sanitation Department of the Andhra Pradesh government for a Rs 1,076.71 crore project. Under the project, drinking water will be supplied in Anakapalli district through a multi-village scheme from the Yeleru Reservoir.
Vikram Solar has received an order to supply 400 MW of modules for decentralised solar projects being developed in Maharashtra. The order has been received from a major EPC company.
Pidilite Industries has entered into a strategic partnership with South Korea-based Hwaseung Chemical. The partnership aims to provide advanced and high-performance adhesive technology for the Indian footwear industry.
Indian Railway Finance Corporation has signed a Rs 4,200 crore term loan agreement with Damodar Valley Corporation to raise funds for renewable energy projects in Jharkhand and West Bengal.
According to the latest TRAI data, Reliance Jio added 24.01 lakh subscribers, Bharti Airtel added 21.1 lakh subscribers and Vodafone Idea added 5.06 lakh subscribers. Shares of telecom companies will therefore remain on investors' radar.
