PROSTARM

** Tata Motors TAMO.NS climbs 1.9% to 677.1 rupees; top gainer on Nifty auto index .NIFTYAUTO, which is up 0.1%

** Carmaker's luxury unit Jaguar Land Rover (JLR) says some of its digital systems back online after recent cyber attack

** TAMO fell 5.3% in the past two sessions on cyber attack woes

** NIFTYAUTO only index trading in green among 16 major sub-indexes

** Tata Motors rated "hold" on avg; median PT is 720 rupees, per data compiled by LSEG

** YTD, TAMO down ~9%, NIFTYAUTO down ~15%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Anand Rathi Share and Stock Brokers' ANAH.NS 7.45 billion-rupee ($84 million) IPO subscribed 20.66 times on final day of bidding

** IPO was fully subscribed on second day of bids

** The offering garnered bids worth 114.27 billion rupees, led by qualified institutional buyers, who subscribed 43.8 times of the shares reserved

** Non-institutional investors' portion subscribed 28.6 times, while that of retail investors was subscribed 4.78 times

** IPO solely consists of fresh shares for issue, with existing shareholders not diluting stake

** Proceeds to be used to fund long-term working capital requirements for the firm and other corporate purposes

($1 = 88.6930 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** HCLTech HCLT.NS rises as much as 1% to 1,444 rupees; last up 0.6%

** HCLT only stock in green on 10-member Nifty IT index .NIFTYIT, which is down 0.9%

** A Swedish truck and bus maker renews deal with co, signing multi-year contract for IT infrastructure, services

** No financial details disclosed

** Morgan Stanley says deal will likely aid co's total contract wins in Q2, boost confidence for HY2 FY26, build revenues on top of co's existing base

** Adds deal reaffirms co's ability to maintain scope in large deal renewals, signals improvement in co's market share

** Stock rated "hold" on avg, median PT is 1,670 rupees, per data compiled by LSEG

** YTD, HCLT falls ~25%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

Updates

** Metal stocks .NIFTYMET up 1%, set for fourth consecutive day of gains, as Nomura reiterates bullish stance on India's steel sector citing sustained domestic, global tailwinds

** Nomura notes China's anti-involution policies to cut production 9% y/y in rest of 2025

** While demand remains tepid in China and exports still remain at record levels, aggressive production cuts should provide some support - Nomura

** Maintans "buy" and raises PT for JSW Steel JSTL.NS to 1,300 rupees from 1,220 rupees and Jindal Steel JINT.NS to 1,150 rupees from 1,080 rupees

** Both up almost 2.5% on Tuesday

** Motilal Oswal says Tata Steel's TISC.NS Indian capacity expansion and European ops restructuring support earnings growth despite near-term global challenges

** Keeps "neutral" on TISC, 180 rupees PT; stock up almost 1%

** YTD, subindex up 16%, JSW and TISC gain 25%, JINT up 11%

(Reporting by Manvi Pant and Urvi Dugar in Bengaluru)

(([email protected]; +918447554364;))

** UBS hikes Avenue Supermarts AVEU.NS PT to 5,600 rupees from 5,050 rupees, nearly 19% upside to last close; keeps "buy" rating

** DMart supermarket chain operator's stock up 1.4% to 4,784.7 rupees

** Brokerage cites DMart's highest discount among peers at 21%, boosting customer loyalty in middle/lower-middle income segments

** Notes value retail edge in offline stores and online platform DMart Ready after store, channel checks

** DMart opened 130 stores across India in last 3 years; UBS estimates 230-250 new outlets in next three years

** Adds, growth set to accelerate on quick-commerce foray, value retail business model

** AVEU rated "hold" by 28 analysts on avg, median PT 4,040 rupees - data compiled by LSEG

** YTD, stock up 34%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Krystal Integrated Services KRYT.NS gain as much as 6.7% to 688.7 rupees, last up 3%

** Management services co gets contract worth 1.68 billion rupees ($19.1 million) for supplying sanitation services for hospitals in Andhra Pradesh state

** Contract for a period of 3 years

** Stock down 8.2% so far in 2025

($1 = 88.0275 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Jefferies starts coverage on Indian alcoholic beverage makers, United Spirits UNSP.NS, Radico Khaitan RADC.NS and Allied Blenders ALLE.NS with "buy"

** Stocks rise between 1% and 2.5%

** Jefferies sets price target for UNSP and RADC at 1,570 rupees and 3,590 rupees, respectively; sets Street High PT on ALLE at 620 rupees

** PT on UNSP, RADC, ALLE at ~20%, 25%, ~14% premium on last close

** Brokerage says the spirits sector offers premiumization-led strong growth potential; sees double-digit revenue CAGR across firms with room for margin expansion

** RADC is top pick for Jefferies, on the back of leading EPS CAGR growth over FY25-28; adds UNSP has likely favorable risk reward, ALLE has meaningful upside underway

** Estimates 20% EBITDA CAGR for RADC, ALLE and 13% for UNSP

** UNSP, RADC, ALLE rated "buy" on avg - data compiled by LSEG

** YTD, UNSP down ~19%; RADC, ALLE up 12%, 28%, respectively

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** JP Morgan initiates coverage on Indian pipe makers Astral ASTL.NS and Supreme Industries SUPI.NS with "overweight," price targets at 1,700 rupees and 4,930 rupees, respectively

** Shares of ASTL up 2.1% to 1,470.1 rupees, SUPI climbs 2.2% to 4,448.1 rupees

** PTs at ~18%, ~13% premium on last close of ASTL and SUPI, respectively

** JP Morgan sees India pipe majors nearing demand recovery, on the back of strong real-estate construction activity, higher water infrastructure spends and favorable channel inventories

** Expects double-digit volume growth for ASTL, SUPI in FY25-28 vs an 8% rise in the broader industry

** Upbeat on ASTL's leadership position in the chlorinated polyvinyl chloride pipes - a type of thermoplastic pipes - segment; see SUPI's scale and distribution edge as a key positive

** Both stocks rated "buy" on avg, median PTs at 1,494.5 rupees, 4,490 rupees, respectively - data compiled by LSEG

** YTD, ASTL, SUPI down ~11%, ~5%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

Sept 9 (Reuters) - Prostarm Info Systems Ltd PRON.NS:

• PROSTARM INFO SYSTEMS LTD - INCORPORATES WHOLLY OWNED SUBSIDIARY

• PROSTARM INFO SYSTEMS LTD - TO SET UP 150 MW/300 MWH BATTERY ENERGY STORAGE SYSTEM

Source text: ID:nNSE3s753C

Further company coverage: PRON.NS

(([email protected];))

Sept 5 (Reuters) - Prostarm Info Systems Ltd PRON.NS:

• GETS LOA FOR 150 MW/300 MWH BATTERY ENERGY STORAGE SYSTEM

• EXPECTS RENTAL OF 254,000 RUPEES PER MW PER MONTH FOR 12 YEARS FROM CONTRACT

Source text: ID:nNSE20RHDs

Further company coverage: PRON.NS

(([email protected];))

** Shares of quick service restaurant (QSR) operators gain between 1% and 3.5%

** India announced GST cuts on hundreds of consumer items ranging from soaps to small cars to spur domestic demand

** While the GST rate on QSR output remains same, lower tax on key inputs like cheese, other dairy products and chicken is down to 5% from 12%

** Jefferies says Jubilant Foodworks JUBI.NS, Devyani International DEVY.NS and Sapphire Foods SAPI.NS to benefit

** JUBI up 3.5%, while DEVY and SAPI rise 2.7% and 1.7%, respectively

** McDonald's India operator Westlife Foodworld WEST.NS climbs as much as 4.9%, last up 1.1%

** JUBI, SAPI, WEST rated "hold" on avg, DEVY rated "buy" - data compiled by LSEG

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Reliance Industries RELI.NS says it is planning to take its telecoms and digital arm Jio Platforms public by mid 2026

** RELI falls 0.4%

JIO LISTING TIMELINE A KEY POSITIVE

** Citi ("buy"; PT: 1,690 rupees) says Jio listing plans key highlight from co's annual general meeting; expects meaningful value unlocking for RELI from IPO

** J.P.Morgan ("overweight"; PT: 1,695 rupees) says IPO plans increase probability of higher tariffs, which will likely be catalyst for RELI

** Jefferies ("buy"; PT: 1,670 rupees) says listing plan could bode well for all Indian telecos as it will likely trigger tariff hikes, with estimated 20% cumulative tariff hike for Jio by FY27

** Macquarie ("outperform"; PT: 1,650 rupees) says clarity on IPO timeline a key positive for Reliance; sees multiple growth drivers for Jio

($1 = 87.5060 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of RBL Bank RATB.NS gain 4.3% to 261.65 rupees; set for best day since early-July

** Societe Generale SOGN.PA net bought 3.3 million RATB shares for 250.57 rupees apiece via bulk deal, exchange data showed

** About 28.2 million shares traded, 2.3x the 30-day avg

** Stock still down 1.9% so far in August, set to snap five straight months of gains

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of SMS Pharmaceuticals SMSP.NS jump 7.4% to 248.48 rupees; set for best day since late-April

** The U.S. FDA concluded inspection at its Hyderabad facility in Telangana state with no observations

** Stock on track for busiest trading session in two months, volumes at 7.7x the 30-day avg

** Year-to-date, stock up 4%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of mining and infra co GOCL Corp GOCL.NS dip 3.3% to 384.25 rupees; set to snap four straight sessions of gains

** On Friday, Hinduja Capital, co's large shareholders' group offloaded 800,000 shares priced at 389.58 rupees apiece, exchange data showed

** A large shareholders' group is known as promoters or promoters' group in India

** Hinduja Capital held 72.82% stake or 36.1 million shares in GOCL, as of June 30

** Session's losses trim YTD gains to ~6%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** India's top carmaker Maruti Suzuki MRTI.NS up 10.4% so far in the week, on track to log its biggest weekly gain since March 2022

** MRTI, the country's biggest seller of small petrol cars climbed ~9% on Monday after the government's plans of sweeping tax cuts, including lower goods and services tax (GST) on small cars

** The plan includes lowering GST on small cars to 18% from 28%, among other changes; plans to be announced by Diwali festival in October

** Analysts at Nomura estimate a 5-10% boost to auto demand from the cuts

** Around 68% of MRTI's portfolio is taxed at the 29% slab and the reduction of the rate to 18% implies high upsides for the stock - Nomura

** Stock biggest weekly gainer on the auto index .NIFTYAUTO, which is up 5% in the period; index on track for best week in three months

** Share of MRTI were trading 0.5% higher on the day, while auto index was down 0.2%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Prince Pipes and Fittings PRCE.NS climb 5.5% to 346.5 rupees; their highest level in over a month

** Motilal Oswal analysts say domestic pipes sector is at the cusp of recovery, citing a gradual uptick in prices after an anti-dumping duty on PVC pipes imports and improved demand

** Expects growth momentum to recover from Q2FY26 onwards; adds product prices have bottomed out, and non-integrated pipe firms like PRCE are likely to be key beneficiaries

** Add, PRCE margins expected to improve sequentially in Q2, to reach 12% by Q4

** PRCE posted 8% EBITDA margins in Q1FY25

** Brokerage rates PRCE "Buy", TP at 440 rupees - reflecting a 25.4% upside on last close

** Stock rated "Buy" on avg, median PT at 350 rupees - data compiled by LSEG

** PRCE is down 19% so far in 2025

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Hindustan Aeronautics (HAL) HIAE.NS rises 2.1% to 4,545 rupees

** Government approves order for 97 fighter jets worth 620 bln rupees ($7.12 bln) from HAL, local media reports, citing sources

** HAL did not immediately respond to Reuters' request for comment

** HIAE gains ~9% YTD

($1 = 87.1260 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Deepak Nitrite DPNT.NS drop about 3% in two sessions; down 2.03% on the day

** Co posted weak quarterly results, sending shares down as much as 5.3% on Thursday

** At least 8 brokerages have cut price targets post results, while at least 5 downgraded the stock, as per data compiled by LSEG

** Mean PT of 18 brokerages on stock has reduced to 2,087.05 rupees from 2,145.58 rupees a month ago - LSEG

** Emkay Research analysts say results came below estimates with chemical prices under pressure for last 3 quarters; adds, prices remain under pressure and headwinds persist

** Analysts at PL Capital flag sustained pressure on margins hurt by cheap imports in the country

** DPNT cut FY26 capex plan to 8-10 billion rupees from 12-15 billion rupees, brokerage Ambit Institutional Equities sees this as "discouraging"

** Stock is rated "hold" on avg, median PT at 2,028 rupees - LSEG

** Year-to-date, stock down 27%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Cohance Lifesciences COHA.NS decline 6.8% to 918.7 rupees; on track for biggest intraday pct drop since August 2022

** Pharma co posts a 35% drop in first-quarter consol net profit; rev jumps ~13% but expenses are also up 22%

** About 327,000 shares traded, 1.7x the 30-day avg

** Year-to-date, stock down ~19%

** Despite Q1 results, stock rated "strong buy" on avg, median PT is 1,235 rupees

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of auto parts maker Samvardhana Motherson SAMD.NS gain 4.2% to 94.01 rupees

** Co missed quarterly profit estimates, hurt by tepid global demand for cars

** SAMD is well-positioned to navigate evolving tariffs as majority of the sales in the U.S. are United States-Mexico-Canada (USMCA) compliant, Chairman Vivek Chaand says

** Adds, for non-USMCA compliant parts, agreements with customers to pass on related costs are in progress

** SAMD's shares fell 1.3% on August 7 after the U.S. announced additional 25% tariff on Indian goods over its Russian oil purchases, taking total tariffs to 50%

** SAMD is the top percentage gainer on Nifty auto index .NIFTYAUTO, which is up 1.3%

** Year-to-date, stock is down ~10% vs ~6% rise in Nifty auto

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Abbott India ABOT.NS gain as much as 2.5% to 33,800 rupees

** Pharma company's June-quarter profit and revenue each grew about 12% on-year

** Stock rated "strong buy" on avg, median PT at 35,500 rupees - data compiled by LSEG

** Year-to-date, stock up ~13%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Ceigall India CEIG.NS decline 4.2% to 247 rupees; set for worst day since early-May

** Infra firm posted a 33% y/y drop in April-June consol net profit at 531.8 million rupees ($6.1 million)

** Expenses rise 8%, while rev grew about 2%

** YTD, stock down 27%

($1 = 87.6250 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Indian refiners drop amid a 0.8% dip in benchmark Nifty 50 index .NSEI after U.S. announced additional 25% tariff on Indian goods over its Russian oil purchases .BO

** Hindustan Petroleum Corp HPCL.NS, Bharat Petroleum BPCL.NS drop 1.9% and 2.5%, respectively

** Heavyweight Reliance Industries RELI.NS declines 1.6%; co flags that continuing geopolitical and tariff-related uncertainties may affect trade flows and supply-demand balance

** Indian Oil Corp IOC.NS down 1.4%

** Sub-indexes Nifty oil and gas .NIFOILGAS and energy .NIFTYENR down 1.6% each

** Jefferies analysts say "a clean break from Russian trade on all items will be tough for India"

** Analysts flag fears over a spike in costs if India were to replace Russian crude oil with other sources

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Indian IT services firm LTIMindtree LTIM.NS gains 0.9% to 5,062 rupees

** Co awarded Indian government's tax card upgrade project, known as PAN 2.0, Reuters reports, citing a government source aware of the matter

** The project, approved by Prime Minister Narendra Modi's administration in November 2024, is expected to go live in 18 months, the report says

** LTIM and the income tax department did not immediately respond to Reuters' requests for comment

** Stock was trading 0.2% higher before the report

** YTD, stock down over 9%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Indus Towers INUS.NS decline 4.1% to 368.45 rupees; their lowest level since early-April

** Telecom infra firm's consol profit after tax dropped 9.8% y/y to 17.37 billion rupees, its operating profit margin contracted to 33.29% from 40.43% a year ago

** Analysts at UBS said co's results were "slightly softer-than-expected"; PAT declined due to higher power and fuel costs

** Adds, co's decision to not pay dividends is a negative development amid strong free cash flow of 118 billion in the past five quarters

** The decline in stock also comes amid a weaker broader market .BO

** Avg rating of 20 brokerages is "hold" on INUS stock, median PT is 407 rupees - data compiled by LSEG

** Year-to-date, stock is up 7.5%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Co-working and workspace solutions firm Indiqube Spaces IDIQ.NS drops ~15% on debut

** Stock opened at 216 rupees on the NSE vs issue price of 237 rupees, valuing co at 44.58 bln rupees (~$511 mln)

** IPO subscribed 12.41x; portion set aside for qualified institutional buyers subscribed 14.35x, while that of retail investors subscribed 12.9x

** 8.5 bln-rupee IPO comprises fresh shares worth 7.5 bln rupees and shareholders offloading shares worth 1 bln rupees

** Proceeds will fund capex, debt repayment and general corporate purposes

** Rival Smartworks Coworking SMAW.NS debuted 14% higher, earlier this month

($1 = 87.1540 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Arvind Fashions ARVF.NS rise 8% to 540.5 rupees, their highest level since late-December

** Co, which retails Calvin Klein and Tommy Hilfiger brands in India, posted a 20% y/y rise in first-quarter core profit, as new store openings and a focus on higher-priced apparel helped

** About 1.2 million shares traded, 3x the 30-day avg

** Stock rated "strong buy" on avg, median PT at 672 rupees - data compiled by LSEG

** Year-to-date, stock up ~5%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Schaeffler India SCHE.NS gain as much as 4.7% to 4,221 rupees; last up 1%

** Automotive and industrial parts maker's Q2 consolidated profit grew ~17% y/y, rev rose ~12% on strong domestic and export sales

** Over 137,000 shares traded, 1.7x the 30-day avg

** Stock rated "buy" on avg, median PT at 3,923 rupees - data compiled by LSEG

** Year-to-date, stock up ~20%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))