Author: Sreelatha M

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Corporate

Emami shares rise 5% as brokers expect strong FY26 growth

Emami Ltd’s shares jumped about 5% on Thursday, rising from ₹514 to ₹538 on the NSE, after brokers turned optimistic about the company’s performance in the second half of fiscal 2026.

Brokers like Nuvama Institutional Equities said past slowdowns due to GST and product changes are over. With inventories back to normal, Emami is likely to see double-digit revenue growth. Its international business, which makes up around 18% of sales, is also expected to grow. Core product categories, which form 70% of sales, are forecasted to grow 5–7% annually, and Emami aims to increase direct-to-consumer sales from 6% today to 20% in the next 3–4 years.

Goldman Sachs has a ‘Buy’ rating with a target price of ₹825, expecting strong earnings over the next year, supported by stable demand, good winter season sales, and improved operations.

However, brokers warned of risks like competition in niche products, leadership changes, and seasonal demand fluctuations, which could affect earnings.

Investors see potential for gains if sales improve as expected, but should watch the coming quarters closely due to seasonal and market risks.

Also Read: ICICI Prudential AMC gets SEBI nod for $12 billion IPO

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Beyond

Rupee slips to ₹89.43 against US dollar

The Indian rupee weakened by 7 paise on Thursday, trading at ₹89.43 against the US dollar in early market hours. This marks a continued period of volatility for the currency, which has been grappling with multiple domestic and global factors.

Rising crude oil prices are a major factor putting pressure on the rupee. India imports most of its oil needs, and higher global crude rates increase the demand for US dollars, pushing the local currency lower. Importers continue to buy dollars to pay for goods and raw materials, adding to the rupee’s downward pressure.

While foreign fund inflows into Indian markets have provided some support, they have not been strong enough to offset the impact of rising oil prices and steady import demand. Analysts suggest that the rupee is likely to trade in a narrow range over the near term, as there are no major catalysts expected to push it significantly higher.

Currency markets are also influenced by global developments, including the strength of the US dollar and international trade dynamics. Any sudden shifts in oil prices or dollar demand could create short-term fluctuations.

Investors and businesses dealing in foreign trade are advised to monitor the rupee closely. A weakening currency can affect import costs, inflation, and overseas investments, making careful planning essential.

Overall, the rupee’s movement reflects the delicate balance between domestic economic factors and global market trends, highlighting the challenges in maintaining currency stability in the current environment.

Also Read: Apple challenges $38 billion India antitrust penalty law

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Corporate

JP Morgan predicts Nifty50 could hit 30,000 by 2026

Global investment bank JP Morgan has raised its target for India’s benchmark Nifty50 to 30,000 by the end of 2026, reflecting optimism about the country’s stock market. The bank expects corporate earnings to grow around 13–14% in 2026–27, supporting higher market valuations.

JP Morgan cites favourable fiscal and monetary policies, strong domestic investment flows, and improving economic fundamentals as key factors for the bullish outlook. Indian equities, while trading at a premium compared with other emerging markets, are now seen as more attractive as the valuation gap narrows.

The bank also notes that sectors such as financials, consumer goods, real estate, power, defence, and materials are likely to benefit most. Potential catalysts include supportive government policies, anticipated rate cuts, and stronger US–India trade ties, all of which could further boost corporate profits and investor sentiment.

With Nifty50 currently around 26,200, the projected rise to 30,000 implies a potential 15–20% gain over the next few years, though investors should expect normal market volatility along the way.

Also Read: Whirlpool shares fall 13% on ₹965 crore stake sale

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Corporate

Tesla plans deeper India push with full EV ecosystem

Tesla is preparing to strengthen its India footprint by developing a full electric-vehicle ecosystem, including chargers, service facilities and customer support centres, to make EV ownership smoother for buyers.

After launching two imported versions of the Model Y earlier this year, the company has delivered just over 100 units so far. Industry sources say Tesla now wants to expand its network before scaling up sales. The plan includes installing home chargers, partnering with malls and hotels for public charging points, and setting up supercharger hubs in major cities.

The company is also looking at improving after-sales services, ensuring that customers have accessible maintenance and support options,  a key concern for EV buyers in India.

Tesla is yet to finalise plans for local manufacturing, but officials say building a strong ecosystem is its immediate priority. The company believes that better infrastructure can encourage more Indians to switch to electric cars, especially in large urban markets.

Tesla’s move comes as India pushes for faster EV adoption to cut pollution and reduce oil dependency. The company expects that a reliable charging network will help build confidence among potential buyers and boost long-term demand for its cars.

Also Read: Asian Paints to invest ₹340 crore in new UAE plant

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1 Minute-Read

IMF shifts India to crawl-like regime

The IMF has reclassified India’s exchange-rate system as a “crawl-like arrangement,” replacing last year’s “stabilised” tag.

This change means the rupee is now allowed to move slowly within a small range instead of staying close to a fixed level. The shift comes after the rupee weakened and touched a record low of ₹89.49 per US dollar in November.

The IMF noted that the Reserve Bank of India has been intervening less in the forex market, allowing natural currency movements.

The Fund said this flexibility can help India handle global shocks better and still expects strong economic growth ahead.

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Corporate

Asian Paints to invest ₹340 crore in new UAE plant

Asian Paints, India’s largest paint maker, is expanding its presence in the Middle East with a new manufacturing facility in the United Arab Emirates. Its UAE subsidiary, Berger Paints Emirates Ltd, will invest approximately ₹340 crore (AED 140 million) to set up the second plant in Abu Dhabi.

The new factory will be located in the Khalifa Economic Zones Abu Dhabi (KEZAD) and will cover about 100,000 square metres. It is expected to have an initial production capacity of 55,800 kilolitres per year, enabling the company to meet growing demand in the region efficiently.

This investment comes as part of Asian Paints’ broader strategy to strengthen its international footprint and enhance supply chain capabilities. By increasing manufacturing capacity in the UAE, the company aims to serve both local and regional markets better while reducing reliance on imports.

The move also reflects Asian Paints’ focus on catering to the Middle East’s expanding construction and real estate sector, which is driving demand for decorative and industrial paints. Analysts believe that this expansion will help the company consolidate its market share in the region and support long-term growth.

The UAE plant is expected to be operational within the next few years and will complement Asian Paints’ existing overseas operations, ensuring smoother logistics and faster delivery for customers. This step underscores the company’s commitment to global growth while maintaining a strong regional presence in high-demand markets.

Also Read: India’s $5 trillion goal delayed, growth strong

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Corporate

Deloitte report in Canada faces AI citation controversy

Deloitte, the global consulting firm, is under scrutiny after a $1.6 million healthcare report it prepared for the Newfoundland and Labrador government was found to contain questionable references.

The 526-page Health Human Resources Plan, released in May 2025, was meant to guide government policy on healthcare staffing, virtual care, retention, and the pandemic’s impact on workers.

Investigations revealed multiple citations that appear to be fabricated, including references to academic papers that don’t exist. Some real researchers were incorrectly credited, and in some cases, fictitious co-authors were listed. One researcher, Gail Tomblin Murphy, called the mention of her work “false” and possibly AI-generated.

The provincial Department of Health has asked Deloitte to review and confirm all citations. Deloitte responded that while some citation corrections are needed, the overall recommendations and conclusions remain valid.

This is not the first time Deloitte has faced such issues. Earlier reports for other governments were also found to have fabricated references, raising concerns about relying on AI for research without proper human checks.

Also Read: Ravelcare SME IPO ₹24 crore, shares ₹123–₹130

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Beyond

Gold dips ₹450, silver down ₹700 ahead of Fed jitters

Gold prices eased on Thursday as traders booked profits following a steady rise over the past few sessions. On the Multi Commodity Exchange (MCX), December gold futures slipped around 0.36% to nearly ₹1,25,480 per 10 grams in early trade. Silver prices also softened, with futures hovering close to ₹1,60,950 per kg. The dip is largely seen as a temporary correction rather than a shift in trend.

The focus of global markets now shifts to the U.S. Federal Reserve, which is set to review its interest-rate policy next week. Investors are anticipating signals on whether the Fed will begin cutting rates in the coming months. Recent U.S. economic data, including slower retail sales and cooling inflation, has strengthened expectations of monetary easing, an outcome generally positive for gold.

A weaker U.S. dollar this week has also lent support to bullion, as a softer dollar makes gold more attractive for international buyers. However, analysts caution that the metal may continue to face short-term volatility depending on how the dollar and U.S. Treasury yields move ahead of the policy announcement.

In the domestic market, experts believe gold will trade within a narrow band. Key support levels lie around ₹1,24,350–₹1,23,580 per 10 grams, while resistance is expected near ₹1,25,850–₹1,26,500. Globally, support is estimated around $4,100 per ounce.

Traders see Thursday’s decline as a healthy pullback after recent gains, with the broader outlook remaining cautious but stable. The Fed’s commentary will be the next major trigger that could shape gold’s direction in the short term.

Also Read: Sensex tops 86,000, Nifty crosses 26,300

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1 Minute-Read

Ahmedabad to host 2030 Commonwealth Games

Ahmedabad will proudly host the 2030 Commonwealth Games, marking a historic moment for India.

The decision, confirmed by the Commonwealth Sports General Assembly in Glasgow, recognises the city’s world-class infrastructure and readiness to deliver a global sporting spectacle.

Central to the bid is the Sardar Vallabhbhai Patel Sports Enclave, anchored by the iconic Narendra Modi Stadium, featuring modern arenas, aquatics facilities, and an athletes’ village.

Known for its rich heritage, vibrant markets, and culinary delights, Ahmedabad is ready to welcome the world, combining top-class sports venues with India’s culture, hospitality, and national pride.

 

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Beyond

Oil prices fall 1.5% as Ukraine backs peace deal

Oil prices slipped on Tuesday after Ukraine indicated it might support a US-backed framework for a peace deal with Russia. The move raised the possibility that Western sanctions on Russian energy could be relaxed, potentially allowing more Russian crude to enter global markets. This expectation put downward pressure on oil prices.

Brent crude, the global benchmark, fell about 1.4% to US$62.48 a barrel, while West Texas Intermediate (WTI) crude, the US benchmark, dropped 1.5% to US$57.95. These levels were the lowest since October 22, reflecting investor caution amid the news.

Analysts say that if sanctions on Russian energy are lifted, the global oil market could see a supply glut, which tends to lower prices. While the news of possible Ukrainian support for a peace deal sparked a drop, market participants remain cautious. Ukraine and Russia still have key differences to resolve, and uncertainty about the final terms of any agreement is keeping some investors wary.

In addition to supply concerns, oil traders are monitoring global demand signals. Economic factors, such as possible interest rate cuts by central banks, could affect consumption and offset some of the downward pressure from increased supply.

Overall, the oil market is balancing between optimism about a potential end to the war and the realities of ongoing geopolitical tensions. Investors are carefully watching developments in peace negotiations, changes in sanctions, and global economic indicators to gauge where prices might head in the coming weeks.

Also Read: Alphabet nears $4 trillion market on AI gains