Opening bell: Sensex, Nifty set for a strong start; Vodafone Idea, Vedanta, Glenmark Pharma, Dixon, EaseMyTrip stocks in focus

The Indian equity benchmarks, the BSE Sensex and the NSE Nifty, are set to begin the week on a strong note, despite mixed cues from global peers, following Prime Minister Narendra Modi's announcement of GST reforms in his Independence Day address. Market sentiment is expected to get a further boost from S&P’s upgrade of India’s sovereign credit rating to investment grade, the first in 18 years and the highest in 35 years, as well as the likely pause on the 25% tariffs on India’s exports to the U.S. after some progress in the U.S.-Russia talks.

At 8:20, the GIFT Nifty futures were up 309 points at 24,964, indicating a strong opening for the benchmark indices.

The week is likely to start on a cheerful note, as the markets draw optimism from Prime Minister Modi’s Independence Day address. His statement on a potential GST rate reduction ahead of Diwali has the potential to significantly boost sentiment and lift equities out of the grip of bears, said Santosh Meena, Head of Research at Swastika Investmart.

Adding to the positive backdrop are several domestic factors, including easing interest rates, record low inflation, and a favourable monsoon. “Together, these macroeconomic drivers, along with expectations of GST cuts, could provide the much-needed trigger for a bullish reversal in Indian equities, even as tariff-related headwinds continue to weigh on global markets,” he added.

On Thursday, the Indian equity markets ended flat with marginal gains as investors stayed on the sidelines ahead of the much-anticipated U.S.-Russia talks. The 30-share Sensex closed 57.75 points higher at 80,597.66, while the Nifty50 rose 11.95 points to settle at 24,631.30. With this, the indices snapped their six-week losing streak, with both the Sensex and the Nifty rising by up to 1% each.

On the global front, Asian stocks showed a mixed trend, with the markets in Hong Kong, South Korea, and Singapore falling between 0.35% and 1.35%. On the other hand, Japan’s Nikkei 225 gained by up to 1%, while China’s Shanghai Composite and Taiwan’s Weighted Index advanced 0.7%.

Stocks in focus today

Vodafone Idea : The telecom major saw its consolidated loss widening to ₹6,608.1 crore in Q1FY26, compared to a loss of ₹6,432.1 crore in the year-ago quarter. Revenue, however, rose 4.9% year-on-year to ₹11,022.5 crore from ₹10,508.3 crore.

Glenmark Pharmaceuticals : The drug maker’s consolidated profit plunged 86.2% to ₹47 crore in Q1FY26, compared to ₹340.2 crore in the corresponding period last year. Revenue inched up by 0.6% to ₹3,264.4 crore against ₹3,244.2 crore a year ago.

Zaggle Prepaid Ocean Services: The company posted a robust 56% rise in consolidated profit to ₹26.1 crore compared with ₹16.7 crore in the year-ago quarter. Revenue also surged 31.6% to ₹332 crore versus ₹252.2 crore.

Easy Trip Planners: The travel company saw its consolidated profit collapse 98.7% year-on-year to just ₹0.4 crore, compared to ₹33.9 crore in the corresponding quarter of the previous year. Revenue fell 25.4% to ₹113.8 crore against ₹152.6 crore.

National Fertilizers : The company reported a consolidated loss of ₹39.4 crore in Q1FY26, compared with a loss of ₹8.7 crore in the corresponding period last year. Revenue dropped sharply by 30.6% to ₹3,534.2 crore from ₹5,091.8 crore in Q1 FY25.

Dixon Technologies : The company has signed a share subscription & shareholders’ agreement with HKC Overseas and its arm Dixon Display Technologies (DDTPL). HKC will pick up a 26% stake in DDTPL, while Dixon retains 74%. The JV will manufacture LCD and TFT-LCD modules.

Vedanta : SEBI issued a warning to Vedanta for modifying a scheme of arrangement submitted to the stock exchanges without prior regulatory approval.

ONGC, Power Grid, NTPC, Tata Power: S&P Global Ratings has upgraded the issuer credit ratings of ONGC, Power Grid Corporation of India, NTPC, and Tata Power to ‘BBB’ from ‘BBB-’, with a stable outlook.

Banks & NBFCs: S&P Global Ratings has upgraded the long-term issuer credit ratings of seven banks—SBI, ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, Union Bank of India, and Indian Bank—along with three finance companies, Bajaj Finance, Tata Capital, and L&T Finance.

PVR INOX : The multiplex operator opened an 8-screen property at Mahindra Millennium Mall (Bengaluru) and a 10-screen megaplex at Sky City Mall (Borivali, Mumbai).

Alembic Pharmaceuticals : The drug maker has received the final USFDA approval for its Tretinoin Cream USP (0.025%), used to treat acne vulgaris.

Torrent Power:  UP CM Yogi Adityanath inaugurated Torrent Group’s green hydrogen plant in Gorakhpur, with an annual production capacity of 72 TPA.

Somany Ceramics: Production at the Kassar plant has been temporarily halted following a gas supply disruption after leakage in GAIL’s Gauna-Bawana pipeline caused by heavy rains and flooding.

JK Cement: The board has cleared a greenfield expansion plan, including a 7 million tonnes per annum (MTPA) cement line (4 MTPA clinker unit + 3 MTPA of grinding capacity) at Jaisalmer, along with two split grinding units (2 MTPA each) in Rajasthan and Punjab.

Lemon Tree Hotels:  The company’s subsidiary Fleur Hotels has bagged a Delhi Development Authority award for licence rights to prime land at Nehru Place, New Delhi, to build and operate a 5-star hotel.

Signatureglobal (India) : The real estate company’s subsidiary Signatureglobal Business Park executed three sale deeds to acquire 33.47 acres in Sohna, Gurugram, including 30.86 acres purchased in collaboration.

EaseMyTrip: The travel-tech firm announced three acquisitions.

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