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The Close · The Open · The Long Desk · Archive · Research · Top Stocks
Tue, 29 Sep 2026
1426 companies · 1447 sector slots · 21 sectors · 23 below Rs1000cr and not scanned · long-term lens

Trend Spotlight

Nifty IT's losing streak extends to 8 sessions as frozen US tech budgets show no sign of thawing.

Nifty IT has fallen roughly 11% in September 2026 versus a 6% Nifty 50 decline, with Infosys, Wipro and Tata Elxsi all touching 52-week lows on Sep 29. The proximate driver is a seventh straight month of frozen US corporate tech budgets ahead of the September-quarter results, with brokerages now pricing constant-currency growth for large-caps anywhere from -0.5% to +2.6%. For a long-term holder this reads as continuing client-side caution rather than a new shock — the move itself is already reflected in the sector's -1.48% index figure — but the length of the freeze is worth tracking into results season.

Day ahead

GIFT Nifty points to a mildly positive open despite a hawkish global backdrop; a textile export-incentive decision is due today.

GIFT Nifty traded near 22,991, up ~0.6% pre-open, in tension with negative US futures, a 10-year US Treasury yield near multi-decade highs following the Fed's Sept 16 hike to 3.75-4.00%, and Brent crude near $98-105/bbl on Middle East tensions — all typically headwinds for a net oil-importing, rate-sensitive market. Most Asian markets followed Wall Street lower overnight (Nikkei -1.35%, Kospi -1.07%, Hang Seng -0.95%). Separately, the government's RoSCTL textile-export-incentive scheme reaches its scheduled Sept 30 expiry today with an extension still under consideration but not yet announced — a swing factor for textile exporters either way.

Arrived overnight

Fii/dii cash flows published after The Close went out, and is included below. The evening report names what it is still waiting for, so nothing appears without having been declared missing first.

Calls this session

A change to anything but AVOID publishes only after two consecutive sessions say the same thing; AVOID publishes at once.

Sector stance changed (2)

Published this session (2)

new
unconfirmed: sector
Unconfirmed: sector not checked — Weighted average rating 3.82/5 including quality and value — the rare combination.
new
Good business, bad price today (Value 2/5) — PEG n/a; P/E cheaper than 30% of sector peers (P/E 40.07); EV/EBITDA 25.0, B/M 0.107. Watch for a better entry.

Awaiting a second session (14)

TickerClosePublished PendingNote
ASTRAMICRO ₹1,652.60 BUY → QUALITY-WAIT if next session holds
DEEPINDS ₹782.50 HOLD → BUY if next session holds
FERMENTA ₹551.35 HOLD → QUALITY-WAIT if next session holds
GEOJITFSL ₹76.76 AVOID → HOLD if next session holds
JUBLFOOD ₹463.00 QUALITY-WAIT → HOLD if next session holds
KRN ₹1,443.10 AVOID → HOLD if next session holds
MARKSANS ₹342.75 HOLD → QUALITY-WAIT if next session holds
NAVINFLUOR ₹8,234.50 QUALITY-WAIT → HOLD if next session holds
PRAJIND ₹307.75 QUALITY-WAIT → HOLD if next session holds
RACLGEAR ₹1,588.60 QUALITY-WAIT → HOLD if next session holds
REDTAPE ₹117.48 QUALITY-WAIT → HOLD if next session holds
SOLARINDS ₹18,650.00 QUALITY-WAIT → HOLD if next session holds
TATASTEEL ₹188.00 HOLD → QUALITY-WAIT if next session holds
ZENTEC ₹1,619.80 QUALITY-WAIT → BUY if next session holds

Reporting today

No tracked name reports today.

Coming up

Source: NSE event calendar, filtered to the 1426 tracked names.

Market Overview

IndexClosePoints ChangeP/EP/B
Nifty 50 22,716.20 ▼ -64.05 ▼ -0.28% 19.20 2.75
Nifty Next 50 69,460.20 ▼ -849.30 ▼ -1.21% 18.36 3.09
Nifty 500 22,101.00 ▼ -131.15 ▼ -0.59% 21.42 3.06
Nifty Bank 54,259.95 ▼ -211.70 ▼ -0.39% 12.84 1.62
NIFTY Midcap 100 59,319.40 ▼ -594.80 ▼ -0.99% 28.59 4.02
▲ 1039 advancing ■ 26 unchanged ▼ 1604 declining of 2669 equities, vs the 2026-09-28 close
Cash market, ₹ crore
FII / FPI net
▼ -9,980.22
bought 22,473 · sold 32,453
DII net
▲ +6,952.71
bought 46,261 · sold 39,308
FII / FPI DII
FII / DII daily net cash flow · ₹ crore · scroll to zoom, drag to pan

Source: NSE ind_close_all_20260929 (levels, index P/E and P/B) and the full-market bhavcopy (breadth).

Index P/E from NSE's official daily index file.

Since We Flagged

The desk's track record — the FIRST call made on each standing name, against its call today. Entry price is the close on the day of that first call, read from the cached bhavcopy for that date. "Unchanged" means the original call still stands.

CompanyFirst flaggedVerdict then Verdict nowAt flagNow Move
Tribhovandas Bhimji Zaveri LtdTBZ Tue, 18 Aug 2026 BUY HOLD ₹251.05 ₹520.00 ▲ +107.1%
STL Networks LtdSTLNETWORK Tue, 18 Aug 2026 AVOID unchanged ₹25.68 ₹49.46 ▲ +92.6%
Raymond LtdRAYMOND Tue, 18 Aug 2026 HOLD unchanged ₹625.00 ₹1,185.75 ▲ +89.7%
Waterways Leisure Tourism LimitedCORDELIA Tue, 18 Aug 2026 HOLD unchanged ₹830.00 ₹102.56 ▼ -87.6%
Indo Rama Synthetics (India) LtdINDORAMA Tue, 18 Aug 2026 AVOID HOLD ₹56.81 ₹103.44 ▲ +82.1%
TCC Concept LtdTCC Tue, 18 Aug 2026 HOLD unchanged ₹253.05 ₹50.09 ▼ -80.2%
India Glycols LtdINDIAGLYCO Tue, 18 Aug 2026 BUY HOLD ₹1,139.20 ₹304.50 ▼ -73.3%
Syncom Formulations (India) LtdSYNCOMF Tue, 18 Aug 2026 BUY HOLD ₹15.57 ₹26.18 ▲ +68.1%
Kabra Extrusion Technik LtdKABRAEXTRU Tue, 18 Aug 2026 AVOID unchanged ₹512.60 ₹829.80 ▲ +61.9%
Goodluck India LtdGOODLUCK Tue, 18 Aug 2026 BUY HOLD ₹1,330.00 ₹528.60 ▼ -60.3%
Quadrant Future Tek LtdQUADFUTURE Tue, 18 Aug 2026 AVOID unchanged ₹341.00 ₹542.15 ▲ +59.0%
Welspun Corp LtdWELCORP Wed, 5 Aug 2026 BUY QUALITY-WAIT ₹1,788.10 ₹2,842.00 ▲ +58.9%

1414 more standing calls with history are not shown — this table is the 12 that have moved most since we flagged them.

Source: data/state.json (call memory) × data/prices/<date>.json.

Top Stories

Nifty IT extends losing streak to 8 sessions as US tech budget freeze continues Information Technology

Nifty IT fell ~1% on Sep 29, its 8th straight losing session (~4% cumulative over the streak), taking the September decline to ~11%. Infosys, Wipro and Tata Elxsi all hit 52-week lows. No new company-specific catalyst surfaced beyond the continuing macro overhang of frozen US corporate tech budgets, now in its 7th month.

INFY · WIPRO · TATAELXSI

RoSCTL export-incentive scheme hits its Sept 30 expiry with an extension decision still pending Textiles & Apparel

The government's RoSCTL scheme for apparel/garment/made-up exporters runs through Sept 30, 2026. Industry is asking for a 5-year extension aligned to the 16th Finance Commission cycle; the Finance Ministry had not announced a decision as of the latest reporting. A lapse would pressure exporter margins; a multi-year extension would be a clear positive.

REDTAPE

BlueCloud's US arm bags a $15.5M IBM Cloud AI infrastructure deal Information Technology

Global Impx Inc., BlueCloud's US subsidiary, signed a fixed-fee $15.5M (~₹147cr) Statement of Work with IBM Cloud for AI infrastructure design, deployment and support, work starting Sep 24, 2026 and paid across five milestones. The stock rallied 11.7-16.3% on the news. Q1 FY27 profit rose 24.7% YoY and revenue 42% YoY, a materially positive development against a call that had been stale since a mid-August rating.

BLUECLOUDS

Astra Microwave's order book hits a record ₹4,361cr on a new HAL contract Capital Goods

A ₹2,205cr HAL contract for airborne avionics and interface units lifted Astra Microwave's order book to a record ₹4,361cr; the company guides 15% FY27 revenue growth. This is supportive evidence for the ticker's pending BUY->QUALITY-WAIT call confirmation, with no client-loss or governance flag found.

ASTRAMICRO

Premier Explosives' Q1 profit plunges 80% on dispatch delays despite a strong defence order book Capital Goods

Q1 FY27 revenue fell 28% YoY to ₹102.6cr and net profit dropped 80.1% YoY to ₹3.1cr, attributed to dispatch and project-execution delays and higher input costs. The order book remains strong at ₹1,393cr (94% defence) with 15-20% FY27 EBITDA margin guidance intact. Separately, the CCI cleared Apollo Micro Systems' acquisition of Premier Explosives (Sep 22) as not a regulated "combination" — an ownership-change event to track.

PREMIERENE

Sector Scorecard

Entry score is 40% cheap-vs-history + 25% quality trend + 15% technicals, renormalised over those three — the 20% news catalyst is not counted because no research was written for this session. It is not treated as neutral; it is absent. ≥62 accumulate · 45–61 watch · <45 avoid.

SectorStanceEntryCheap QualityTechNews IndexIdx P/EB/W/H/A
Information Technology 75 scanned · 17 researched ACCUMULATE 62.1 64.3 78.5 28.8 — ▼ -1.48% 17.6 4/9/54/8
Banks 40 scanned · 12 researched WATCH 50.5 48.5 52.3 53.2 — ▼ -0.39% 12.8 1/0/29/10
Pharmaceuticals 85 scanned · 20 researched AVOID 43.4 16.8 72.0 66.8 — ▲ +0.64% 41.7 0/19/55/11
Automobiles 109 scanned · 36 researched WATCH 54.3 35.5 78.3 64.4 — ▼ -1.33% 30.4 14/22/63/10
FMCG 105 scanned · 8 researched WATCH 59.4 58.9 68.8 44.8 — ▼ -1.05% 31.1 4/18/66/17
Metals & Mining 82 scanned · 19 researched WATCH 50.6 35.0 68.2 63.0 — ▲ +0.78% 15.8 0/10/54/18
Realty 38 scanned · 4 researched WATCH 51.8 55.6 52.0 41.4 — ▼ -2.00% 35.4 1/2/15/20
Energy & Power 83 scanned · 18 researched WATCH 55.7 50.0 63.4 58.2 — ▼ -0.50% 14.2 4/8/39/32
Financial Services 148 scanned · 5 ranked elsewhere · 11 researched WATCH 56.4 67.6 43.6 47.9 — ▼ -0.09% 15.1 0/4/90/54
Healthcare & Hospitals 58 scanned · 16 ranked elsewhere · 9 researched WATCH 49.7 28.4 73.8 66.5 — ▲ +0.15% 43.4 5/15/33/5
Hospitality & Tourism 37 scanned · 9 researched ACCUMULATE 63.8 68.3 68.6 44.0 — ▼ -0.40% 85.8 0/6/21/10
Chemicals 98 scanned · 8 researched WATCH 61.9 61.5 68.5 51.9 — — — 2/12/61/23
Construction & Materials 123 scanned · 10 researched ACCUMULATE 62.4 71.9 61.8 38.0 — — — 3/11/69/40
Capital Goods 101 scanned · 15 researched WATCH 53.2 33.9 78.5 62.4 — — — 10/11/66/14
Textiles & Apparel 47 scanned · 5 researched WATCH 56.0 50.0 62.6 61.0 — — — 2/6/27/12
Retail & Consumer 67 scanned · 4 researched WATCH 58.8 55.3 68.4 52.4 — — — 2/10/36/19
Packaging & Plastics 34 scanned · 2 researched WATCH 54.4 41.8 64.7 70.6 — — — 2/4/20/8
Logistics & Transport 25 scanned · 6 researched WATCH 45.8 29.9 67.6 52.0 — — — 5/3/10/7
Telecom & Media 29 scanned · 5 researched WATCH 52.7 50.0 60.2 47.6 — — — 3/1/14/11
Commercial Services 31 scanned · 6 researched WATCH 59.8 63.0 52.8 62.8 — — — 2/2/14/13
Diversified & Other 32 scanned · 1 researched WATCH 51.6 42.1 59.7 63.3 — — — 0/3/18/11

Source: data/verdicts.json × NSE sector index closes.

Stocks to Watch

Split evenly across large/mid/small/micro cap so this list isn't one tier's picks — new calls first, then the highest long-term composites within each. Micro-cap names are boxed and flagged Highly Volatile — worth watching, not a call to buy — since their price swings run about twice every other tier's. Each card shows the figures that selected it — open the desk for the full six-lens panel.

new call this session
P/E in the 79th percentile of its own 3-year range · ROCE 21.2% (up 14.2pt over 5y) · Piotroski 7/9
Composite 65.7 Mkt Cap 58,778 cr · Large P/E 40.07 ROCE 21.2% Piotroski 7/9
P/E in the 6th percentile of its own 3-year range · ROCE 19.2% (up 12.2pt over 5y)
Composite 88.5 Mkt Cap 279,172 cr · Large P/E 125.47 ROCE 19.2% Piotroski 5/9
new call this session
unconfirmed: sector
P/E in the 36th percentile of its own 3-year range · ROCE 15.5% (up 13.5pt over 5y)
Composite 73.1 Mkt Cap 36,570 cr · Mid P/E 42.46 ROCE 15.5% Piotroski 5/9
new call this session
P/E in the 22th percentile of its own 3-year range · ROCE 12.8% (up 0.8pt over 5y) · -25.3% off its 52-week high
Composite 67.8 Mkt Cap 15,454 cr · Mid P/E 20.42 ROCE 12.8% Piotroski 4/9
new call this session
P/E in the 27th percentile of its own 3-year range · ROCE 20.5% (down 13.5pt over 5y) · -27.6% off its 52-week high
Composite 58.3 Mkt Cap 14,896 cr · Small P/E 18.19 ROCE 20.5% Piotroski 5/9
P/E in the 0th percentile of its own 3-year range · ROCE 24.3% (up 24.3pt over 5y)
Composite 90.8 Mkt Cap 12,454 cr · Small P/E 57.31 ROCE 24.3% Piotroski 6/9
new call this session
Highly Volatile
P/E in the 1th percentile of its own 3-year range · ROCE 19.9% (down 15.1pt over 5y) · Piotroski 7/8
Composite 61.8 Mkt Cap 3,334 cr · Micro P/E 27.98 ROCE 19.9% Piotroski 7/8
new call this session
Highly Volatile
P/E in the 70th percentile of its own 3-year range · ROCE 18.3% (up 8.3pt over 5y) · Piotroski 7/8
Composite 61.7 Mkt Cap 4,941 cr · Micro P/E 18.51 ROCE 18.3% Piotroski 7/8

How We Evaluate

MetricWhy it is in the frameworkSource
Return on capital, level and trendDurable high ROCE predicts future returns; the trend separates a moat from a good year Novy-Marx 2013 JFE
Gross profitability (GP/assets)As predictive as book-to-market, and less prone to the value trap Novy-Marx 2013 JFE
Piotroski F-scoreA nine-signal accounting checklist that separates real improvers from statistically cheap traps Piotroski 2000 JAR
Cash-flow-to-net-profitAccrual-heavy profit reverts; cash-backed profit persists Sloan 1996 TAR
P/E versus the stock's own historyCheap relative to itself, not to a peer set that may be expensive as a whole Basu 1977 JF
Book-to-marketThe value premium, in its original form Fama–French 1992 JF
EV/EBITDACapital-structure-neutral, so it compares a leveraged firm to an unleveraged one Practitioner standard
Altman Z and interest coverageDistressed firms have delivered lower, not higher, returns — screen them out rather than chase them Altman 1968 JF; Campbell/Hilscher/Szilagyi 2008 JF
52-week-high proximity, 200-DMANearness to the high has predicted continuation — but momentum crashes, so never alone George & Hwang 2004 JF; Daniel & Moskowitz 2016 JFE
Promoter pledgePledged promoter holding is a governance red flag ahead of a forced sale Not currently available from either source — no penalty is applied

Full derivation in METHODOLOGY.md.