Khazanchi Jewellers Ltd participated in GJIIF 2025, Chennai; secured ₹85–90 cr. orders and launched new natural diamond jewellery brand ‘Vajraa Diamonds’.
Bhageria Industries posted 83% YoY rise in consolidated net profit to Rs. 23 cr. for H1FY26.
Sammaan Capital (ex-Indiabulls Housing Finance) is India’s 3rd largest private housing finance firm. Abu Dhabi’s International Holding Company acquired 43.5% stake for Rs.8,850 cr., strengthening capital. Strong loan portfolio and digital-first operations support sustained growth.
Network People Services Technologies went live with NPCI’s next-gen UPI solutions at GFF 2025, unveiling ‘Banking Connect’ and ‘Bank-in-a-Box’ to drive digital banking transformation.
Markets never move in straight lines. From Oct 2021–Jun 2023, Nifty stayed at 18,600 for 20 months, then surged 40% by Sep 2024. Since then, consolidation continues with just 3% returns. Patience is rewarded silently then explosively.
As per astrology, key turning dates are 20th, 24th, 27th, 29th & 31st October 2025. FIIs covering shorts and buying in cash ahead of Bihar elections is a positive sign for bulls. FII shorts at 86%, the lowest in this series; if NDA forms the government, a sharp rally in select cash stocks may emerge.
Caution: For private circulation only.Please note that Money Times is for circulation among paid subscribers only. Any attempt to share your access to our website or forwarding your copy to a non-subscriber will disqualify your membership and we will be compelled to stop your supply and forfeit your subscription thereafter
GS on PTC Industries: Maintain Buy on Company, target price at Rs 24725/Sh (Positive)
JP Morgan on Coforge: Maintain Overweight on Company, raise target price at Rs 2500/Sh (Positive)
MS on Coforge: Maintain Overweight on Company, raise target price at Rs 2030/Sh (Positive)
Market snapshot
– Derivatives revenue and active trader counts have declined materially after new rules; NSE chair says derivatives revenue down ~40–60% and active monthly traders fell to ~20–22 lakh from 30–40 lakh.
– Gold: historic highs — spot and futures continue to rally; NBFC gold-loan AUM expected to expand 30–35% in FY26 (ICRA).
PHANTOMFX: Acquires UK-based VFX studio “Milk” for USD 1.63 mn
Acquires 100% stake in Milk Visual Effects Ltd, UK for USD 1.63 mn. Strengthens global presence in Europe and North America VFX markets. Enhances capabilities in film, TV post-production, and high-end VFX. Supports long-term expansion strategy with wider international footprint.
Nifty Outlook: 25,795.15 FII: Rs.621.51 cr DII: Rs.173.13 cr
(27th – 31st October 2025)
As discussed in the previous report dated 20th October 2025, market behaviour remained on expected lines during the week as the uptrend continued, taking Nifty to our projected level of 26,097 and making a weekly high of 26,104. However, it failed to sustain and slipped to a weekly low of 25,718.
1. FIIs’ net long position stands at 24.80%.
2. VIX is at 11.59 (-1.19%).
3. PCR is at 0.65.
4. FIIs bought 1,336 lots in index futures, bought Rs.621 cr in the cash segment, and sold Rs.703.10 cr in stock futures.
5. Open interest data:
Fund House and Brokerage Highlights
Brokerages maintained a largely neutral to positive stance on HUL, with Jefferies and Goldman Sachs reiterating Buy and targets of Rs 3,050 and Rs 2,850 respectively, citing medium-term growth potential and steady margins despite GST disruptions. Macquarie and MS maintained Neutral/Equal Weight with targets of Rs 3,000 and Rs 2,335, highlighting margin support from the upcoming ice cream demerger. CLSA remained cautious with an Underperform rating and Rs 1,966 target, citing muted near-term growth.
Studds Accessories Limited is launching an offer-for-sale (OFS) IPO of 77.86 lakh equity shares, aggregating to approximately ₹455.49 crore, with shares priced in the band of ₹557 to ₹585 each.
Orkla India, the parent company of the popular packaged food brand MTR Foods, has announced its initial public offering (IPO) with a price band of ₹695 to ₹730 per share, targeting a valuation of around ₹10,000 cr at the upper end.
India’s initial public offering (IPO) market has already witnessed 80 listings in 2025, raising over ₹80,000 cr so far. Looking ahead, analysts estimate that the IPO pipeline could generate an additional ₹41,000 cr in the next 10 weeks alone.
Jayesh Logistics Ltd has announced its upcoming IPO with an issue size of ₹28.63 cr and a price band of ₹116 to ₹122 per share. The bidding period is scheduled from 27th October 2025 to 29th October 2025, and the listing is expected on the SME platform of NSE on 3rd November 2025.
Meesho, a leading Indian e‑commerce platform, has submitted its updated draft red‑herring prospectus (UDRHP) to SEBI, setting the stage for a planned initial public offering (IPO) of approximately Rs.5,800‑6,600 crore (around $700‑800 million).
Midwest Ltd’s initial public offering (IPO), sized at Rs.451 cr., has generated overwhelming investor interest and is now heading into the final allotment phase ahead of its listing on the bourses.
Subscription and Listing Timeline
The IPO was open for subscription from 15th October to 17th October 2025. On its final day of bidding, the overall subscription stood at 87.89 times.
Founded in 2008, Dvara Holdings has been a pioneer in advancing financial inclusion in India, impacting millions of low-income households. The company operates through its not-for-profit arm, Dvara Research, which undertakes rigorous policy research, and Dvara Venture Studio, focused on building strategic commercial institutions that address systemic gaps in financial access. Its mission is to ensure that every individual and enterprise has complete access to financial services through sustainable, long-term solutions.
Key Consolidated Financial Highlights H1 FY26
Total Income of ₹ 369.99 Cr, YoY growth of 48.24%
EBITDA of ₹ 48.91 Cr, YoY growth of 47.72%
Net Profit of ₹ 22.36 Cr, YoY growth of 83.28%
Net Profit Margin (%) of 6.04%, YoY growth of 116 Bps
EPS of ₹ 5.28, YoY growth of 84.62%
Sathlokhar Synergys E&C Global Ltd. has secured a civil construction order worth ₹52.47 cr (including GST) from M/s Hong Fu Industrial Group, a Taiwan-based global footwear manufacturer investing ₹1,500 cr to establish a mega non-leather footwear factory at Ranipet, Tamil Nadu. The order, awarded through M/s Grand Atlantia Panapakkam SEZ
Focus Lighting and Fixtures Limited has transferred 93,750 equity shares of face value ₹2 each from the FLFL Employees Welfare Trust to eligible employees following the exercise of stock options under its ESOP 2019 plan.
Supreme Power Equipment Limited (SPEL) has won a new order worth approximately ₹5.06 Cr from a reputed EPC company in Karnataka, reinforcing its expanding presence in South India and cementing partnerships with key engineering and infrastructure clients.
Sathlokhar Synergys E&C Global Limited has reinforced client confidence by securing a repeat order worth ₹35.61 Cr (including GST) from M/s. Reliance Consumer Products Limited, a subsidiary of Reliance Industries Limited and producer of CAMPA COLA beverages.
China’s industrial firms reported a substantial rebound in profits in September 2025, with a 21.6% year-on-year rise, the fastest pace since November 2023. The increase follows a 20.4% gain in August and brings first nine-month profits up by 3.2%, compared with just 0.9% for the January–August period.
Airbus Chairman Rene Obermann has described India as a “strategic, long-term partner” for the company, expressing strong confidence in the country’s engineering talent, technological ambition and overall quality during remarks at the Berlin Global Dialogue.
The Trump administration has launched a flurry of actions reshaping U.S. domestic and foreign policy. In a bold move, Washington has imposed sanctions on Russian oil giants Rosneft and Lukoil, citing Moscow’s failure to progress toward a Ukraine ceasefire. The sanctions immediately triggered a $2 per barrel jump in global crude prices, signaling heightened tensions in energy markets.
The United States has announced a significant 155% tariff on
In recent developments, a proposed meeting between U.S. President Donald Trump and Russian President Vladimir Putin was indefinitely delayed. Despite earlier planning and public anticipation of a rendezvous in Budapest, U.S. authorities clarified that no meeting is scheduled in the near term.
On October 20, 2025, Prime Minister Narendra Modi continued his tradition of celebrating Diwali with India’s armed forces by visiting the INS Vikrant off the coasts of Goa and Karwar. During his visit, he lauded the strategic importance and strength of INS Vikrant, describing
Khazanchi Jewellers Ltd participated in GJIIF 2025, Chennai; secured ₹85–90 cr. orders and launched new natural diamond jewellery brand ‘Vajraa Diamonds’.
Bhageria Industries posted 83% YoY rise in consolidated net profit to Rs. 23 cr. for H1FY26.
Sammaan Capital (ex-Indiabulls Housing Finance) is India’s 3rd largest private housing finance firm. Abu Dhabi’s International Holding Company acquired 43.5% stake for Rs.8,850 cr., strengthening capital. Strong loan portfolio and digital-first operations support sustained growth.
Network People Services Technologies went live with NPCI’s next-gen UPI solutions at GFF 2025, unveiling ‘Banking Connect’ and ‘Bank-in-a-Box’ to drive digital banking transformation.
Markets never move in straight lines. From Oct 2021–Jun 2023, Nifty stayed at 18,600 for 20 months, then surged 40% by Sep 2024. Since then, consolidation continues with just 3% returns. Patience is rewarded silently then explosively.
As per astrology, key turning dates are 20th, 24th, 27th, 29th & 31st October 2025. FIIs covering shorts and buying in cash ahead of Bihar elections is a positive sign for bulls. FII shorts at 86%, the lowest in this series; if NDA forms the government, a sharp rally in select cash stocks may emerge.
Caution: For private circulation only.Please note that Money Times is for circulation among paid subscribers only. Any attempt to share your access to our website or forwarding your copy to a non-subscriber will disqualify your membership and we will be compelled to stop your supply and forfeit your subscription thereafter
GS on PTC Industries: Maintain Buy on Company, target price at Rs 24725/Sh (Positive)
JP Morgan on Coforge: Maintain Overweight on Company, raise target price at Rs 2500/Sh (Positive)
MS on Coforge: Maintain Overweight on Company, raise target price at Rs 2030/Sh (Positive)
Market snapshot
– Derivatives revenue and active trader counts have declined materially after new rules; NSE chair says derivatives revenue down ~40–60% and active monthly traders fell to ~20–22 lakh from 30–40 lakh.
– Gold: historic highs — spot and futures continue to rally; NBFC gold-loan AUM expected to expand 30–35% in FY26 (ICRA).
PHANTOMFX: Acquires UK-based VFX studio “Milk” for USD 1.63 mn
Acquires 100% stake in Milk Visual Effects Ltd, UK for USD 1.63 mn. Strengthens global presence in Europe and North America VFX markets. Enhances capabilities in film, TV post-production, and high-end VFX. Supports long-term expansion strategy with wider international footprint.
Nifty Outlook: 25,795.15 FII: Rs.621.51 cr DII: Rs.173.13 cr
(27th – 31st October 2025)
As discussed in the previous report dated 20th October 2025, market behaviour remained on expected lines during the week as the uptrend continued, taking Nifty to our projected level of 26,097 and making a weekly high of 26,104. However, it failed to sustain and slipped to a weekly low of 25,718.
1. FIIs’ net long position stands at 24.80%.
2. VIX is at 11.59 (-1.19%).
3. PCR is at 0.65.
4. FIIs bought 1,336 lots in index futures, bought Rs.621 cr in the cash segment, and sold Rs.703.10 cr in stock futures.
5. Open interest data:
Fund House and Brokerage Highlights
Brokerages maintained a largely neutral to positive stance on HUL, with Jefferies and Goldman Sachs reiterating Buy and targets of Rs 3,050 and Rs 2,850 respectively, citing medium-term growth potential and steady margins despite GST disruptions. Macquarie and MS maintained Neutral/Equal Weight with targets of Rs 3,000 and Rs 2,335, highlighting margin support from the upcoming ice cream demerger. CLSA remained cautious with an Underperform rating and Rs 1,966 target, citing muted near-term growth.
Studds Accessories Limited is launching an offer-for-sale (OFS) IPO of 77.86 lakh equity shares, aggregating to approximately ₹455.49 crore, with shares priced in the band of ₹557 to ₹585 each.
Orkla India, the parent company of the popular packaged food brand MTR Foods, has announced its initial public offering (IPO) with a price band of ₹695 to ₹730 per share, targeting a valuation of around ₹10,000 cr at the upper end.
India’s initial public offering (IPO) market has already witnessed 80 listings in 2025, raising over ₹80,000 cr so far. Looking ahead, analysts estimate that the IPO pipeline could generate an additional ₹41,000 cr in the next 10 weeks alone.
Jayesh Logistics Ltd has announced its upcoming IPO with an issue size of ₹28.63 cr and a price band of ₹116 to ₹122 per share. The bidding period is scheduled from 27th October 2025 to 29th October 2025, and the listing is expected on the SME platform of NSE on 3rd November 2025.
Meesho, a leading Indian e‑commerce platform, has submitted its updated draft red‑herring prospectus (UDRHP) to SEBI, setting the stage for a planned initial public offering (IPO) of approximately Rs.5,800‑6,600 crore (around $700‑800 million).
Midwest Ltd’s initial public offering (IPO), sized at Rs.451 cr., has generated overwhelming investor interest and is now heading into the final allotment phase ahead of its listing on the bourses.
Subscription and Listing Timeline
The IPO was open for subscription from 15th October to 17th October 2025. On its final day of bidding, the overall subscription stood at 87.89 times.
Founded in 2008, Dvara Holdings has been a pioneer in advancing financial inclusion in India, impacting millions of low-income households. The company operates through its not-for-profit arm, Dvara Research, which undertakes rigorous policy research, and Dvara Venture Studio, focused on building strategic commercial institutions that address systemic gaps in financial access. Its mission is to ensure that every individual and enterprise has complete access to financial services through sustainable, long-term solutions.
Key Consolidated Financial Highlights H1 FY26
Total Income of ₹ 369.99 Cr, YoY growth of 48.24%
EBITDA of ₹ 48.91 Cr, YoY growth of 47.72%
Net Profit of ₹ 22.36 Cr, YoY growth of 83.28%
Net Profit Margin (%) of 6.04%, YoY growth of 116 Bps
EPS of ₹ 5.28, YoY growth of 84.62%
Sathlokhar Synergys E&C Global Ltd. has secured a civil construction order worth ₹52.47 cr (including GST) from M/s Hong Fu Industrial Group, a Taiwan-based global footwear manufacturer investing ₹1,500 cr to establish a mega non-leather footwear factory at Ranipet, Tamil Nadu. The order, awarded through M/s Grand Atlantia Panapakkam SEZ
Focus Lighting and Fixtures Limited has transferred 93,750 equity shares of face value ₹2 each from the FLFL Employees Welfare Trust to eligible employees following the exercise of stock options under its ESOP 2019 plan.
Supreme Power Equipment Limited (SPEL) has won a new order worth approximately ₹5.06 Cr from a reputed EPC company in Karnataka, reinforcing its expanding presence in South India and cementing partnerships with key engineering and infrastructure clients.
Sathlokhar Synergys E&C Global Limited has reinforced client confidence by securing a repeat order worth ₹35.61 Cr (including GST) from M/s. Reliance Consumer Products Limited, a subsidiary of Reliance Industries Limited and producer of CAMPA COLA beverages.
For those of you who are serious about having more, doing more, giving more and being more, success is achievable with some understanding of what to do.
