TLDR
Market Recap: October 6, 2025
On October 6, 2025, Indian equities extended gains for a third session as large-caps, especially IT and financials, pulled the benchmarks above key thresholds. Sensex closed at 81,790.12 (+582.95; +0.72%) and Nifty 50 at 25,077.65 (+183.40; +0.74%). Nifty Midcap 100 rose 0.9% while Nifty Smallcap 100 edged 0.3% higher. India VIX ticked up to 10.19 (+1.3%), reflecting slightly firmer hedging demand. Sectorally, Nifty IT (+2.3%) and Financial Services (+1.1%) led, while FMCG (-0.2%) lagged. Provisional flows: FIIs -₹314 crore; DIIs +₹5,036 crore.
Key Drivers :
IPO liquidity tailwinds: Mega issues (Tata Capital today; LG India tomorrow) bolstered domestic inflows and primary-market sentiment despite soft FII prints.
Banks & IT leadership: Strong Q2 business updates at lenders and a large IT deal drove sectoral rotation into rate-sensitive and export-heavy pockets.
Flows cushion volatility: DIIs absorbed foreign selling (net +₹5,036 cr vs FIIs -₹314 cr), helping the Nifty reclaim 25k with VIX still subdued.
Today’s Top Stories:
Tata Capital IPO opens: Year’s biggest share sale (₹310-₹326 band) kicks off; anchors put in ₹4,642 cr last week.
LG India anchors ₹3,475 cr: Strong anchor demand ahead of Oct 7 opening; ₹11,607 cr OFS at ₹1,080 - 1,140 band.
LTIMindtree mega win: ~$580 mn media deal boosts TCV visibility; stock up ~3%.
Adani Ent private bonds: Plans ₹1,000 cr, 2.5yr, 8.70% coupon via private placement; shares soften.
Lupin under FDA cloud: Pithampur Unit-2 classified OAI; stock dips ~1-2%.
TOP STORIES
1. Tata Capital’s ₹15,500 cr IPO opens; price band ₹310-₹326
DALL-E
Offer details: The year’s largest IPO opened for bids today, combining a fresh issue (up to 210 mn shares) and OFS (up to 265.8 mn). Anchor book raised ₹46.4 bn on Oct 3.
Strategic angle: Proceeds strengthen capital buffers for growth across retail and corporate lending, positioning the NBFC to track or outpace system credit growth.
Market reaction: Financials outperformed (Nifty Financial Services +1.1%); Bajaj Finance gained 2% intraday as NBFC sentiment stayed firm.
Your take on Tata Capital’s listing prospects and Day 1 demand?
2. LG Electronics India locks in ₹3,475 cr from anchors; IPO opens Oct 7
DALL-E
Fundraise update: The consumer-durables major allotted ₹3,475 cr to 149 anchor investors at ₹1,140 per share; public offer size ₹11,607 cr, band ₹1,080-1,140.
Strategic angle: Listing supports India's expansion and manufacturing footprint; strong anchor roster signals robust institutional interest ahead of listing.
Market reaction: Primary-market optimism aided broader risk tone; IPO-linked foreign inflows were also cited as supportive for rupee and equities this week.
How are you approaching this OFS-led offer at ₹1,080-₹1,140?
3. LTIMindtree wins largest-ever deal ($580 mn) with global media client
DALL-E
Deal size & scope: Multi-year, $580 mn agreement focused on automation, vendor consolidation, and delivery model modernization for a large entertainment client.
Strategic angle: Confirms mid-cap IT’s momentum in outcome-based, AI-enabled programs; improves near/medium-term revenue visibility and TCV mix.
Market reaction: LTIM shares rose 3% on the announcement, lifting the Nifty IT index.
Does this deal change your view on mid-cap IT re-rating?
4. Adani Enterprises returns to private debt; plans up to ₹1,000 cr bond placement
DALL-E
Offer details: First private placement since 2023 ₹10 bn, 2.5-year maturity, 8.70% semi-annual coupon; rated AA- (ICRA).
Strategic angle: Post retail bond comeback, the group diversifies funding sources amid ongoing regulatory scrutiny, lowering reliance on bank lines.
Market reaction: Adani Enterprises eased 0.5% amid broader market gains.
What does this funding move signal to you?
5. Lupin’s Pithampur Unit-2 gets US FDA ‘OAI’ tag; stock slips
DALL-E
Regulatory update: US FDA classified the July inspection at Unit-2 (Pithampur) as Official Action Indicated with four observations, potentially delaying new approvals from the site.
Strategic angle: Heightens compliance overhang on select US filings; management is working with the FDA to remediate.
Market reaction: Lupin fell ~1-2% intraday on the update.
How do you position on the stock near term?
GYAANI HOT TAKES
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