Market View 10th September, 2025

View on market: Volatility persists, eagerly searching for growth:

Asian markets moved higher, following strong gains on Wall Street where hopes of interest rate cuts lifted investor mood. Stocks in China, Japan, and South Korea advanced, showing positive regional sentiment. In the US, futures were steady, while European futures slipped slightly as political concerns in France weighed on confidence. Wall Street had earlier reached record levels, with technology shares continuing to lead the rally. In India, the benchmark indices also ended the day with modest gains, supported mainly by strength in information technology shares. Both Sensex and Nifty finished higher after showing intraday advances. The overall tone in equities remained optimistic, with investors balancing expectations of global monetary easing against regional and political uncertainties. Looking ahead, attention will be on the Mauritius–India Business Conclave in Mumbai, where leaders from both sides, including the Prime Minister of Mauritius and India’s Power Minister, are scheduled to address the gathering, potentially opening new avenues of cooperation.

Economic Calendar:

• USD: Mortgage Market Index Data on 10^th September 2025.
• IND: Bank Loan and Deposit Growth Rate on 12^th September 2025.
• USD: Core PPI (MoM) (YoY) (Aug) Data on 10^th September 2025.
• IND: CPI on 12^th September 2025.

Company	Open	Close	Price (Rs/-)	View
Urban Company Ltd	Sept 10th	Sept 12th	98-103	May Apply
SHML	Sept 10th	Sept 12th	155-165	Apply
DevX	Sept 10th	Sept 12th	56-61	May Apply

 

Brokerage Radar:

CLSA ON ULTRATECH:

Target Rs 13500 Recommendation Outperform, Ultratech was optimistic of a demand recovery in H2 helped by recent government measures, GST cut must be fully passed through, it provides some headroom for medium term price increase, Removal of coal cess will reduce cost by Rs 20/t, Benefit for companies with higher coal proportion in the mix is likely to be higher.

GOLDMAN SACHS ON AMBER:

Targe Rs 7330 Earlier Target Rs 6950 Recommendation Neutral, Estimate PCB manufacturing can contribute upto 12% of Amber’s revenues and 26% of EBITDA by FY30, Expect Amber to more than double its overall share of the bare PCB market in India, Export opportunity will be limited.

HSBC ON ASTER DM:

Target Rs 680 Recommendation Buy, Proposed merger of Aster with QCIL on track to close by Q4FY26, Both entities focusing on operational ramp-up, QCIL focusing on talent, technology, and infrastructure to drive operational efficiency and higher profitability, Sustained growth in Kerala and Bengaluru markets key amid rising competition.

UBS ON SUPREME INDUSTRIES:

Target Rs 3500 Recommendation Sell, Testing times ahead for industry leader, Multiple challenges ahead, Bigger growth challenges compared to peers, Overshooting capex, sluggish return profile and unclear succession.

International Markets:

U.S & Europe:

*As per 10^th September.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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