TLDR
Market Recap: November 10, 2025
On November 10, Indian equities snapped a three-day decline on firm global cues and resilient domestic flows. Sensex closed at 83,473.76 (+318.91, +0.38%), while Nifty 50 settled at 25,574.35 (+82.05, +0.32%). Midcaps and smallcaps edged up (Nifty Midcap 100: 60,282.90, +0.73%; Nifty Smallcap 100: 17,243.35, +0.61%). Volatility cooled with India VIX at 12.31 (-1.93%). IT and financials led gains; sentiment also tracked a supportive Wall Street setup and positive brokerage commentary on India. FIIs were net sellers ₹4,115 cr, offset by DII net buys ₹5,805 cr.
Key Drivers :
Big-house upgrade: Goldman Sachs raised India to Overweight with a 2026 Nifty target of 29,000, aiding risk appetite across cyclicals and financials.
Flows split: Provisional prints showed FIIs selling and DIIs buying in cash, cushioning indices into the close.
Macro backdrop: Firm global tone and improving local earnings breadth supported a bounce after last week’s slide.
Today’s Top Stories:
Bajaj Finance prints strong Q2; trims MSME aggression: Profit and AUM grew briskly; guidance more guarded on MSME risk; stock up.
Lenskart’s debut is muted but stable by close: Listed below issue, recovered part of the slide as valuation jitters met strong franchise.
Jindal Stainless beats; stock cools off: Solid demand lifts earnings; price action lags on prior gains and cautious positioning.
HAL gains on GE engine pact: Tejas engine order underpins execution visibility; shares outperform.
WeWork India guides higher despite Q2 profit slip: Expansion boosts revenue trajectory; stock eases on margin worries.
TOP STORIES
1. Bajaj Finance Q2: PAT up 22%, AUM up 24%; MSME tightening in focus
Gemini-2.5
Financial performance: Consolidated PAT rose to ₹4,875 cr (+22% YoY) with NII +22% YoY; AUM reached ₹4.62 lakh cr (+24% YoY). Results were broadly solid versus expectations.
Strategy & risk: Management has been more cautious on MSME lending, trimming FY26 AUM growth expectations amid stress signals and prioritising asset quality.
Market reaction: The stock closed up 1.9% at ₹1,086.6 on the NSE, among Nifty gainers.
Bajaj Finance Q2: strong growth, MSME lending toned down. Your view on the shift?
2. Lenskart lists soft; recovers from intraday lows
Gemini-2.5
Listing print: Shares debuted below the ₹402 issue price, dipped as much as 11%, then settled near ₹392, valuing the company at ~₹67,625 cr.
Implication: The tepid start underscores valuation discipline in new-age IPOs despite strong subscription levels; the growth path and execution will be under scrutiny post-listing.
Market reaction: After a shaky open, the stock pared losses into the close, with choppy volumes through the session.
Lenskart debut below issue, partial recovery by close. How do you see the listing?
3. Jindal Stainless Q2 profit jumps 33% on robust demand
Gemini-2.5
Financial performance: Q2 PAT rose 32.6% YoY to ₹807 cr; revenue grew 11.4% YoY to ₹10,893 cr, aided by steady domestic demand and higher volumes.
Strategy & sector context: Potential anti-dumping actions on select stainless products could support pricing; management focus remains on value-added mix and capacity utilisation.
Market reaction: Shares were softer into close near ₹723 despite better earnings, reflecting prior run-up and cautious positioning.
Jindal Stainless Q2 profit up about 33% on firm demand. Is the earnings trajectory durable?
4. HAL in focus after GE engine pact; stock rallies
Gemini-2.5
Deal update: HAL has signed an agreement to procure 113 GE F404 engines for the LCA Tejas Mk1A program, firming up the execution pipeline.
Implication: Reinforces localisation and delivery visibility for Tejas; staggered deliveries through 2027–2032 should underpin medium-term revenue cadence.
Market reaction: HAL closed up 3.5% at ₹4,790, outperforming the broader market.
HAL gains on GE F404 engines for Tejas Mk1A. How do you rate execution visibility?
5. WeWork India H1 revenue rises; Q2 profit dips; FY25 target raised
Gemini-2.5
Financial performance: First-half revenue increased as the operator added centres; Q2 profit slipped on higher costs linked to growth.
Implication: Management lifted full-year revenue guidance on strong demand as enterprises and SMEs adopt flexible space; watch unit economics as expansion continues.
Market reaction: Shares fell 1.2% to ₹623.7 as investors weighed near-term margin pressure against top-line momentum.
WeWork India lifts FY25 revenue goal despite Q2 profit dip. What’s your stance?
GYAANI HOT TAKES
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