< -5%

-5% to -3%

Apollo Micro Sy

Astra Microwave

Rossell Techsys

NIBE

Azad Eng

Axiscades Tech

Bharat Elec

Krishna Defence

Paras Defence

Unimech Aerospa

Zen Tech

-3% to 0%

Taneja Aerospac

C2C Advanced

MTAR Tech

Hindustan Aeron

Sika Interplant

Bharat Dynamics

TAAL Enterprise

Data Patterns

0% to 3%

Jaykay Ent

3% to 5%

Promoter Neena Tyagi has offloaded nearly 6 percent equity stake in Yatharth Hospital &amp; Trauma Care Services for Rs 404 crore via open market transactions on November 28.

The stock, perhaps, reacted to a big chunk of share sale by the promoter, falling sharply by 8.32 percent to Rs 707.8 and closing decisively below all key moving averages.

Neena Tyagi sold 56.33 lakh shares (equivalent to 5.8 percent of paid-up equity) in <a href="https://www.moneycontrol.com/india/stockpricequote/hospitalhealthcare-services/yatharthhospitaltraumacareservices/YHT">Yatharth Hospital</a>, the hospital chain based in North India founded by Ajay Kumar Tyagi and Kapil Kumar in 2008, for Rs 403.93 crore.

These shares were sold at a price of Rs 716.98 per share. As of September 2025, she held 6.47 percent stake in the company of total promoters shareholding of 61.64 percent.

However, Kotak Mahindra Mutual Fund, and Carnelian Asset Management &amp; Advisors were buyers for some its shares sold by the promoter.

Kotak Mahindra Mutual Fund has bought additional 8 lakh shares (0.83 percent stake) in Yatharth Hospital for Rs 57.5 crore at a price of Rs 719.37 per share, and Carnelian Asset Management &amp; Advisors picked up 5.5 lakh shares (0.57 percent stake) for Rs 39.7 crore at Rs 721.89 per share.

Kotak Mahindra Trustee Company through Kotak Multicap Fund owned 3.96 percent stake in the company as of September 2025.

Ownership, Material Conflicts of Interest and Disciplinary History

MCD is a wholly owned subsidiary of Network 18 Media & Investments Ltd ("Network18"), in which Independent Media Trust (IMT) holds 56.89% stake. Reliance Industries Limited ("RIL") is the sole beneficiary of IMT. Network18 and RIL and their subsidiaries, joint ventures and associates can be considered as associates of MCD.

Details of Associate

Receipt of Compensation

Third-Party Compensation

Employment History

Market-Making Activities

Use of Artificial Intelligence

Promoter Neena Tyagi sells nearly 6% stake in Yatharth Hospital for Rs 404 crore

Promoter Neena Tyagi has offloaded nearly 6 percent equity stake in Yatharth Hospital &amp;amp; Trauma Care Services for Rs 404 crore via open market transactions on November 28.

The stock, perhaps, reacted to a big chunk of share sale by the promoter, falling sharply by 8.32 percent to Rs 707.8 and closing decisively below all key moving averages.

Neena Tyagi sold 56.33 lakh shares (equivalent to 5.8 percent of paid-up equity) in Yatharth Hospital, the hospital chain based in North India founded by Ajay Kumar Tyagi and Kapil Kumar in 2008, for Rs 403.93 crore.

These shares were sold at a price of Rs 716.98 per share. As of September 2025, she held 6.47 percent stake in the company of total promoters shareholding of 61.64 percent.

However, Kotak Mahindra Mutual Fund, and Carnelian Asset Management &amp;amp; Advisors were buyers for some its shares sold by the promoter.

Kotak Mahindra Mutual Fund has bought additional 8 lakh shares (0.83 percent stake) in Yatharth Hospital for Rs 57.5 crore at a price of Rs 719.37 per share, and Carnelian Asset Management &amp;amp; Advisors picked up 5.5 lakh shares (0.57 percent stake) for Rs 39.7 crore at Rs 721.89 per share.

Kotak Mahindra Trustee Company through Kotak Multicap Fund owned 3.96 percent stake in the company as of September 2025.

Indian stock markets have recently hit fresh lifetime highs after 14 months, but heavyweight IT stocks are still far away from their record peaks. Some analysts have, however, suggested that the sectoral stocks may soon see a rise, citing several key reasons.

<a href="https://www.moneycontrol.com/indian-indices/nifty-it-19.html">Nifty IT</a> index closed 0.11 percent lower at 37,405.50 on Friday. The sectoral index is more than 18.84 percent lower than its 52-week high of 46,088.9, which it had hit in December last year. While Nifty 50 has gained more than 10 percent in 2025 so far, the IT index fell around 14 percent during the same period.
<h3><strong>What led to a downturn in IT stocks?</strong></h3>
This was driven by several factors. US President Donald Trump imposed harsh tariffs on Indian and other imports to the country, which pushed the Indian IT stocks lower on expectations that discretionary spending in US will reduce following the move.

Additionally, Trump hiked fees for H-1B visas. The constant tussle between the US President and Federal Reserve chief Jerome Powell also put pressure on the shares of the companies which derive a major portion of their revenue from the US economy.

"The emergence of GCC centers as companies insource critical technology solutions, together with hyperscalers like Amazon and Google providing value-added services, is reducing the technology pie that tech companies can participate in," added Shravan Shetty, Managing Director, Primus Partners. This may have also led to a decline in the stocks.

Despite the previous downturn, these stocks have seen some rise recently. Heavyweight <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/infosys/IT">Infosys</a> shares have gained around 4 percent in the past one month, while <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/wipro/W">Wipro</a> and TCS shares rose around 3 percent each during the time. <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/hcltechnologies/HCL02">HCLTech</a> shares jumped nearly 7 percent during the same time, while <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/techmahindra/TM4">Tech Mahindra</a> shares rose around 5 percent.

Here's why analysts feel the IT stocks may be up for a turnaround:
<h3><strong>Likely Fed rate cut:</strong></h3>
Despite initial expectations of a no rate cut, a higher probability of a December rate cut by the US Federal Reserve has been boosting global markets. According to a Bloomberg report, Kevin Hassett, who is currently the White House National Economic Council Director, was being considered as the next Fed chairperson. The possibility of Trump's close aide being the next Fed chief further boosted the expectations of more rate cuts

New York Fed President John Williams, a permanent voter on rate policy and vice chair of the rate-setting Federal Open Market Committee, earlier said that interest rates can fall "in the near term".

"I view monetary policy as being modestly restrictive...Therefore, I still see room for a further adjustment in the near term to the target range for the federal funds rate to move the stance of policy closer to the range of neutral," Williams said. Investors now put a nearly 60 percent chance of a 25 basis point cut at the U.S. central bank's December meeting, reversing what had been strong conviction that the Fed would pause due to concerns about inflation.

A rate cut by the Federal Reserve will likely increase discretionary spending in the US, which in turn benefits IT stocks.
<h3><strong>Anti-AI play:</strong></h3>
Earlier this month, SoftBank sold stake worth $5.8 billion in Nvidia, igniting fears that the frenzy around artificial intelligence may have peaked, which in turn push down AI stocks. Recently, Morgan Stanley and Goldman Sachs CEOs warned that stock markets could be heading to a drawdown, while hedge fund manager Michael Burry, known for shorts on the US housing market ahead of the 2008 crash, bet against Nvidia and Palantir.

The recent correction in global equity markets is being driven largely by the sharp decline in AI-focused companies, said Bajaj Broking Research Team. The brokerage noted that companies such as Nvidia, Microsoft, Amazon, Alphabet, and Meta have grown to become dominant index constituents in the Wall Street. “Their substantial weight in the S&amp;P 500 and Nasdaq means that a 10–20% drop in these stocks drags down the broader market, shaping overall global risk sentiment,” it added.

“In contrast, the composition of the Indian equity market is fundamentally different. India does not have domestically listed, high-valuation AI pure plays comparable to Nvidia or OpenAI. Although the country boasts a large and globally competitive IT sector—represented by firms like Infosys, TCS, Wipro, and HCL Tech—these companies primarily operate as IT services and consulting providers rather than AI product creators…This structural distinction provides India with a natural buffer. Even if global AI valuations correct sharply, the impact on Indian equities is limited,” the brokerage added.

Indian equity markets could be seen as an "anti-AI play" if the present trend of AI trade fading sustains, said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
<h3><strong>Valuation comfort:</strong></h3>
After a sharp decline, some analysts believe that the valuations of these IT stocks have improved. Santosh Meena, Head of Research at Swastika Investmart, noted that the IT stocks were trading at rich valuations without the double-digit growth to justify them when they were entering 2024. The subsequent correction has now brought valuations (P/E ratios) back to attractive, historical averages, he added.

"We believe the sector is transitioning out of its 'Price Correction' phase and is now in the final leg of a 'Time Correction'. The steep valuation froth has cooled, and the downside risk appears limited. However, a decisive breakout requires a shift in the global macro narrative," said Santosh Meena, Head of Research at Swastika Investmart.
<h3><strong>Declining Rupee:</strong></h3>
The Indian rupee <a href="https://www.moneycontrol.com/news/business/rupee-down-3-5-since-march-rbi-sells-38-billion-to-steady-currency-finmin-13699405.html">weakened by about 3.5 percent</a> against the US dollar between end-March and end-October 2025, the finance ministry’s October Monthly Economic Review said.

The report noted that this was a steady, gradual depreciation over seven months and in line with the broader trend in other emerging market currencies. The pressure mainly came from global factors: a stronger dollar, high US interest rates and continued volatility in global financial markets.

The rupee hit a record low of Rs 89.49 against the dollar last week. "The Indian rupee’s fall to a new record low is just a matter of time as the currency is likely headed to 90 per dollar level in the near term," according to Ritesh Bhansali, deputy chief executive officer at Mecklai Financial Services.

Notably, a declining rupee against the US dollar also will likely boost IT stocks.
<h3><strong>Earnings recovery expectation:</strong></h3>
Earlier this month, Motilal Oswal said that the IT sector appears to be at a bottom, with risks skewed to the upside. The brokerage upgraded its growth estimates to reflect an expected recovery that will show meaningfully in the second half of FY27 and gain full momentum in FY28.

"For a meaningful re-rating, large-cap IT companies must demonstrate steady improvements in earnings, margins, and deal wins to reassure investors that the worst is over," said Ajit Mishra, SVP of Research at Religare Broking.

Nomura meanwhile expects marginally better revenue growth of 4.5 percent for large-cap IT companies in FY27, as against FY26. The international brokerage expects mid-caps to continue growing faster than large-caps in FY27.

Nomura expects average FY27 EBIT margin to improve by 30 bps for large-cap companies and by 50 bps for the mid-caps. It sees bigger revenue pool for IT service providers as enterprise AI adoption increases over the next 12-18 months, driving demand for cloud and data services.

"Our outlook index, built on management commentary across companies, indicates an improvement in outlook for deal signings as project delays appear to have bottomed in the Jun-25 quarter. We also see a gradual recovery in revenue outlook and guarded optimism on margins among companies," BNP Paribas said.
<h3><strong>What lies ahead for IT stocks?</strong></h3>
The question now is whether the consolidation phase is finally ending. Signs of improvement are emerging, but for IT stocks to decisively break out, the market will look for two triggers - sustained sequential revenue growth and clearer evidence that discretionary spending is returning, said Charmi Shah, Business Head at Wealth1.

"Until then, the sector is likely to remain selectively constructive, with investors focusing on firms showing improving order books, operational resilience, and early leadership in AI-driven services," she added.

Select stocks in the sector where innovative business models are being implemented will perform better, said Shetty from Primus Partners. "Also, with the focus of the Indian government to encourage Indian technology players, companies that can create India-specific products along the AI value chain, including data centers, will benefit," he added.

Also read: <a href="https://www.moneycontrol.com/news/business/markets/jefferies-skeptical-about-rebound-in-beaten-down-it-stocks-says-growth-outlook-remains-uncertain-check-its-top-picks-13701042.html">Jefferies skeptical about rebound in beaten-down IT stocks</a>

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Market at lifetime high but IT index down 19% from peak: Sector is ripe for a turnaround, say analysts; here's why

Indian stock markets have recently hit fresh lifetime highs after 14 months, but heavyweight IT stocks are still far away from their record peaks. Some analysts have, however, suggested that the sectoral stocks may soon see a rise, citing several key reasons.

Nifty IT index closed 0.11 percent lower at 37,405.50 on Friday. The sectoral index is more than 18.84 percent lower than its 52-week high of 46,088.9, which it had hit in December last year. While Nifty 50 has gained more than 10 percent in 2025 so far, the IT index fell around 14 percent during the same period.
What led to a downturn in IT stocks?
This was driven by several factors. US President Donald Trump imposed harsh tariffs on Indian and other imports to the country, which pushed the Indian IT stocks lower on expectations that discretionary spending in US will reduce following the move.

Additionally, Trump hiked fees for H-1B visas. The constant tussle between the US President and Federal Reserve chief Jerome Powell also put pressure on the shares of the companies which derive a major portion of their revenue from the US economy.

&quot;The emergence of GCC centers as companies insource critical technology solutions, together with hyperscalers like Amazon and Google providing value-added services, is reducing the technology pie that tech companies can participate in,&quot; added Shravan Shetty, Managing Director, Primus Partners. This may have also led to a decline in the stocks.

Despite the previous downturn, these stocks have seen some rise recently. Heavyweight Infosys shares have gained around 4 percent in the past one month, while Wipro and TCS shares rose around 3 percent each during the time. HCLTech shares jumped nearly 7 percent during the same time, while Tech Mahindra shares rose around 5 percent.

Here's why analysts feel the IT stocks may be up for a turnaround:
Likely Fed rate cut:
Despite initial expectations of a no rate cut, a higher probability of a December rate cut by the US Federal Reserve has been boosting global markets. According to a Bloomberg report, Kevin Hassett, who is currently the White House National Economic Council Director, was being considered as the next Fed chairperson. The possibility of Trump's close aide being the next Fed chief further boosted the expectations of more rate cuts

New York Fed President John Williams, a permanent voter on rate policy and vice chair of the rate-setting Federal Open Market Committee, earlier said that interest rates can fall &quot;in the near term&quot;.

&quot;I view monetary policy as being modestly restrictive...Therefore, I still see room for a further adjustment in the near term to the target range for the federal funds rate to move the stance of policy closer to the range of neutral,&quot; Williams said. Investors now put a nearly 60 percent chance of a 25 basis point cut at the U.S. central bank's December meeting, reversing what had been strong conviction that the Fed would pause due to concerns about inflation.

A rate cut by the Federal Reserve will likely increase discretionary spending in the US, which in turn benefits IT stocks.
Anti-AI play:
Earlier this month, SoftBank sold stake worth $5.8 billion in Nvidia, igniting fears that the frenzy around artificial intelligence may have peaked, which in turn push down AI stocks. Recently, Morgan Stanley and Goldman Sachs CEOs warned that stock markets could be heading to a drawdown, while hedge fund manager Michael Burry, known for shorts on the US housing market ahead of the 2008 crash, bet against Nvidia and Palantir.

The recent correction in global equity markets is being driven largely by the sharp decline in AI-focused companies, said Bajaj Broking Research Team. The brokerage noted that companies such as Nvidia, Microsoft, Amazon, Alphabet, and Meta have grown to become dominant index constituents in the Wall Street. “Their substantial weight in the S&amp;amp;P 500 and Nasdaq means that a 10–20% drop in these stocks drags down the broader market, shaping overall global risk sentiment,” it added.

“In contrast, the composition of the Indian equity market is fundamentally different. India does not have domestically listed, high-valuation AI pure plays comparable to Nvidia or OpenAI. Although the country boasts a large and globally competitive IT sector—represented by firms like Infosys, TCS, Wipro, and HCL Tech—these companies primarily operate as IT services and consulting providers rather than AI product creators…This structural distinction provides India with a natural buffer. Even if global AI valuations correct sharply, the impact on Indian equities is limited,” the brokerage added.

Indian equity markets could be seen as an &quot;anti-AI play&quot; if the present trend of AI trade fading sustains, said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
Valuation comfort:
After a sharp decline, some analysts believe that the valuations of these IT stocks have improved. Santosh Meena, Head of Research at Swastika Investmart, noted that the IT stocks were trading at rich valuations without the double-digit growth to justify them when they were entering 2024. The subsequent correction has now brought valuations (P/E ratios) back to attractive, historical averages, he added.

&quot;We believe the sector is transitioning out of its 'Price Correction' phase and is now in the final leg of a 'Time Correction'. The steep valuation froth has cooled, and the downside risk appears limited. However, a decisive breakout requires a shift in the global macro narrative,&quot; said Santosh Meena, Head of Research at Swastika Investmart.
Declining Rupee:
The Indian rupee weakened by about 3.5 percent against the US dollar between end-March and end-October 2025, the finance ministry’s October Monthly Economic Review said.

The report noted that this was a steady, gradual depreciation over seven months and in line with the broader trend in other emerging market currencies. The pressure mainly came from global factors: a stronger dollar, high US interest rates and continued volatility in global financial markets.

The rupee hit a record low of Rs 89.49 against the dollar last week. &quot;The Indian rupee’s fall to a new record low is just a matter of time as the currency is likely headed to 90 per dollar level in the near term,&quot; according to Ritesh Bhansali, deputy chief executive officer at Mecklai Financial Services.

Notably, a declining rupee against the US dollar also will likely boost IT stocks.
Earnings recovery expectation:
Earlier this month, Motilal Oswal said that the IT sector appears to be at a bottom, with risks skewed to the upside. The brokerage upgraded its growth estimates to reflect an expected recovery that will show meaningfully in the second half of FY27 and gain full momentum in FY28.

&quot;For a meaningful re-rating, large-cap IT companies must demonstrate steady improvements in earnings, margins, and deal wins to reassure investors that the worst is over,&quot; said Ajit Mishra, SVP of Research at Religare Broking.

Nomura meanwhile expects marginally better revenue growth of 4.5 percent for large-cap IT companies in FY27, as against FY26. The international brokerage expects mid-caps to continue growing faster than large-caps in FY27.

Nomura expects average FY27 EBIT margin to improve by 30 bps for large-cap companies and by 50 bps for the mid-caps. It sees bigger revenue pool for IT service providers as enterprise AI adoption increases over the next 12-18 months, driving demand for cloud and data services.

&quot;Our outlook index, built on management commentary across companies, indicates an improvement in outlook for deal signings as project delays appear to have bottomed in the Jun-25 quarter. We also see a gradual recovery in revenue outlook and guarded optimism on margins among companies,&quot; BNP Paribas said.
What lies ahead for IT stocks?
The question now is whether the consolidation phase is finally ending. Signs of improvement are emerging, but for IT stocks to decisively break out, the market will look for two triggers - sustained sequential revenue growth and clearer evidence that discretionary spending is returning, said Charmi Shah, Business Head at Wealth1.

&quot;Until then, the sector is likely to remain selectively constructive, with investors focusing on firms showing improving order books, operational resilience, and early leadership in AI-driven services,&quot; she added.

Select stocks in the sector where innovative business models are being implemented will perform better, said Shetty from Primus Partners. &quot;Also, with the focus of the Indian government to encourage Indian technology players, companies that can create India-specific products along the AI value chain, including data centers, will benefit,&quot; he added.

Also read: Jefferies skeptical about rebound in beaten-down IT stocks

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/pharmaceuticalsdrugs/anthembiosciences/ABL07">Anthem Biosciences</a> jumped around 4 percent on November 28 after Nomura issued a bullish note for the stock. The shares of the company hit an intraday high of Rs 651 apiece.

The newly-listed stock is currently more than 14 percent from the IPO price of Rs 570 apiece. However, it is down nearly 10 percent from its listing price of Rs 723.05 apiece. By the end of the session on Friday, the stock pared some gains to close at Rs 636 apiece.

&nbsp;
<h3><strong>Nomura on Anthem Biosciences:</strong></h3>
Nomura initiated coverage on Anthem Biosciences with a ‘Buy’ rating, and a target price of Rs 740 per share. This implies an upside potential of nearly 18 percent from the stock’s previous closing price.

The international brokerage said that the company is well-positioned to benefit from the CRDMO opportunity. It expects the firm to post sales growth of 14 percent/18 percent/22 percent, and earnings improvement of 27 percent/21 percent/26 percent in FY26-28.

Nomura however cautioned that the company’s revenue growth may slow down in the near-term due to a high base. But steady growth in base products and new launches will likely drive acceleration in FY27-28, the brokerage added.

New launches, capacity expansion and strong end-market demand support positive medium-term outlook, Nomura added, further saying that the company can sustain 17 percent growth in calendar year 2024-2029, outpacing the industry’s 13 percent growth in the contract research, development and manufacturing organisation segment.

Anthem's stable leadership with employee attrition below peers has led strong operating performance with industry-leading profit margins and return ratios, Nomura said, adding that it believes that the company has a wider customer base and a strong "fee for service" strategy when compared to peers.

&nbsp;
<h3><strong>Anthem Biosciences share price history:</strong></h3>
The shares of the company had made a <a href="https://www.moneycontrol.com/news/business/ipo/anthem-biosciences-share-price-stock-lists-at-27pc-premium-over-ipo-price-on-nse-should-you-buy-sell-or-hold-13301275.html">strong market debut</a> on July 21 this year, listing with a premium of nearly 27 percent over the IPO price at Rs 723.05 per share on the NSE. This came after the Rs 3,395-crore initial public offering (IPO) of the company saw strong investor interest during its three days of public bidding, being subscribed nearly 64 times between July 14 and July 16.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-28-11-2025-liveblog-13700502.html">LIVE updates</a> from the stock markets here.

<em>(With inputs from Reuters)</em>

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Anthem Biosciences shares jump up to 4% after Nomura's 'Buy' rating; newly-listed stock up 14% from IPO price

The shares of Anthem Biosciences jumped around 4 percent on November 28 after Nomura issued a bullish note for the stock. The shares of the company hit an intraday high of Rs 651 apiece.

The newly-listed stock is currently more than 14 percent from the IPO price of Rs 570 apiece. However, it is down nearly 10 percent from its listing price of Rs 723.05 apiece. By the end of the session on Friday, the stock pared some gains to close at Rs 636 apiece.

&amp;nbsp;
Nomura on Anthem Biosciences:
Nomura initiated coverage on Anthem Biosciences with a ‘Buy’ rating, and a target price of Rs 740 per share. This implies an upside potential of nearly 18 percent from the stock’s previous closing price.

The international brokerage said that the company is well-positioned to benefit from the CRDMO opportunity. It expects the firm to post sales growth of 14 percent/18 percent/22 percent, and earnings improvement of 27 percent/21 percent/26 percent in FY26-28.

Nomura however cautioned that the company’s revenue growth may slow down in the near-term due to a high base. But steady growth in base products and new launches will likely drive acceleration in FY27-28, the brokerage added.

New launches, capacity expansion and strong end-market demand support positive medium-term outlook, Nomura added, further saying that the company can sustain 17 percent growth in calendar year 2024-2029, outpacing the industry’s 13 percent growth in the contract research, development and manufacturing organisation segment.

Anthem's stable leadership with employee attrition below peers has led strong operating performance with industry-leading profit margins and return ratios, Nomura said, adding that it believes that the company has a wider customer base and a strong &quot;fee for service&quot; strategy when compared to peers.

&amp;nbsp;
Anthem Biosciences share price history:
The shares of the company had made a strong market debut on July 21 this year, listing with a premium of nearly 27 percent over the IPO price at Rs 723.05 per share on the NSE. This came after the Rs 3,395-crore initial public offering (IPO) of the company saw strong investor interest during its three days of public bidding, being subscribed nearly 64 times between July 14 and July 16.

Follow all LIVE updates from the stock markets here.

(With inputs from Reuters)

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of One97 Communications, the parent company of <a href="https://www.moneycontrol.com/india/stockpricequote/online-services/one97communicationspaytm/OC03">Paytm</a>, jumped more than 3.5 percent on November 28 after international brokerage Goldman Sachs issued a bullish call for the stock.

The shares of the company hit an intraday high of Rs 1,338.80 apiece on Friday, extending gains for the third consecutive session.

&nbsp;
<h3><strong>Goldman Sachs on Paytm:</strong></h3>
Goldman Sachs upgraded the rating for Paytm shares to 'Buy' from its earlier 'Neutral' rating, and hiked its target price by 100 percent to Rs 1,570 apiece from Rs 705 apiece earlier. The latest target price implies an upside potential of more than 21 percent from the stock's previous closing price.

The international brokerage said that the regulatory environment, which was earlier a key drag on the stock, is incrementally getting better. This is translating into recovery for Paytm's payments market share, better earnings visibility and relaunch of products, it added.

Goldman estimates a 20 percent revenue growth being sustained in the foreseeable future. Paytm's cost control has been a big positive surprise, it said while adding that it expects EBITDA margins to more than double over the next three-four years.

&nbsp;
<h3><strong>RBI grants final approval for PPSL to operate as payment aggregator:</strong></h3>
In an exchange filing released in the post markets hours of November 26, Paytm announced that <a href="https://www.moneycontrol.com/news/business/markets/paytm-shares-rise-2-after-subsidiary-gets-rbi-s-final-approval-to-operate-as-payment-aggregator-13698503.html">RBI granted the Certificate of Authorization (COA)</a> to the firm's wholly-owned subsidiary Paytm Payments Services Limited (PPSL) to operate as a payment aggregator under the Payment and Settlement Systems Act, 2007.

The certificate will allow PPSL to resume onboarding merchants — a process that had been under RBI freeze since November 2022. According to the filing, the license will enable PPSL to continue offering payment aggregation services, and growth in this business segment will reflect in the consolidated financials of One 97 Communications Limited.

&nbsp;
<h3><strong>ICICI Securities on Paytm:</strong></h3>
ICICI Securities recently <a href="https://www.moneycontrol.com/news/business/markets/paytm-shares-snap-three-day-losses-rise-nearly-4-as-icici-securities-hikes-price-target-13697891.html">hiked its target price</a> for Paytm shares to Rs 1,450 apiece from Rs 1,240 apiece. The domestic brokerage said that it sees strong earnings growth potential driven by payment and loan distribution expansion, margin improvement through product upgrades and better UPI mix. "Paytm's plans for traction in postpaid, wallet and international segment complemented by its diverse presence across the payment ecosystem could support a net revenue of Rs 12,523 crore by FY28," said ICICI Securities.

&nbsp;
<h3><strong>Paytm share price history:</strong></h3>
Paytm shares have gained more than 4 percent in the past five days, and nearly 56 percent in the past six months. The shares of the company are up over 34 percent in 2025 so far.

After hitting a 52-week low of Rs 651.50 on March 11 this year, the stock jumped a whopping 108 percent in less than eight months to hit a 52-week high of Rs 1,353.80 apiece on November 10. The stock has fallen a little over 1 percent since then.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-28-11-2025-liveblog-13700502.html">LIVE updates</a> from the stock markets here.

<em>(With inputs from Reuters)</em>

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Paytm shares jump 3.5% after Goldman Sachs upgrades rating to 'Buy', sees 21% upside

The shares of One97 Communications, the parent company of Paytm, jumped more than 3.5 percent on November 28 after international brokerage Goldman Sachs issued a bullish call for the stock.

The shares of the company hit an intraday high of Rs 1,338.80 apiece on Friday, extending gains for the third consecutive session.

&amp;nbsp;
Goldman Sachs on Paytm:
Goldman Sachs upgraded the rating for Paytm shares to 'Buy' from its earlier 'Neutral' rating, and hiked its target price by 100 percent to Rs 1,570 apiece from Rs 705 apiece earlier. The latest target price implies an upside potential of more than 21 percent from the stock's previous closing price.

The international brokerage said that the regulatory environment, which was earlier a key drag on the stock, is incrementally getting better. This is translating into recovery for Paytm's payments market share, better earnings visibility and relaunch of products, it added.

Goldman estimates a 20 percent revenue growth being sustained in the foreseeable future. Paytm's cost control has been a big positive surprise, it said while adding that it expects EBITDA margins to more than double over the next three-four years.

&amp;nbsp;
RBI grants final approval for PPSL to operate as payment aggregator:
In an exchange filing released in the post markets hours of November 26, Paytm announced that RBI granted the Certificate of Authorization (COA) to the firm's wholly-owned subsidiary Paytm Payments Services Limited (PPSL) to operate as a payment aggregator under the Payment and Settlement Systems Act, 2007.

The certificate will allow PPSL to resume onboarding merchants — a process that had been under RBI freeze since November 2022. According to the filing, the license will enable PPSL to continue offering payment aggregation services, and growth in this business segment will reflect in the consolidated financials of One 97 Communications Limited.

&amp;nbsp;
ICICI Securities on Paytm:
ICICI Securities recently hiked its target price for Paytm shares to Rs 1,450 apiece from Rs 1,240 apiece. The domestic brokerage said that it sees strong earnings growth potential driven by payment and loan distribution expansion, margin improvement through product upgrades and better UPI mix. &quot;Paytm's plans for traction in postpaid, wallet and international segment complemented by its diverse presence across the payment ecosystem could support a net revenue of Rs 12,523 crore by FY28,&quot; said ICICI Securities.

&amp;nbsp;
Paytm share price history:
Paytm shares have gained more than 4 percent in the past five days, and nearly 56 percent in the past six months. The shares of the company are up over 34 percent in 2025 so far.

After hitting a 52-week low of Rs 651.50 on March 11 this year, the stock jumped a whopping 108 percent in less than eight months to hit a 52-week high of Rs 1,353.80 apiece on November 10. The stock has fallen a little over 1 percent since then.

Follow all LIVE updates from the stock markets here.

(With inputs from Reuters)

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Life Insurance Corporation of India (<a href="https://www.moneycontrol.com/india/stockpricequote/lifehealth-insurance/lifeinsurancecorporationindia/LIC09">LIC</a>) has reduced its stake in NBCC (India) to 4.477 percent, the latter announced in an exchange filing on November 28. The insurer meanwhile bought another 2 percent stake in ACC.

LIC shares fell nearly 1 percent to trade at Rs 894.60 apiece while NBCC shares were trading in the green with marginal gains. ACC shares fell more than 1 percent to trade at Rs 1,850 apiece, as seen at 1.35 pm.

&nbsp;
<h3><strong>LIC's stake sale in NBCC:</strong></h3>
Before the sale of shares, LIC owned 6.548 percent stake in <a href="https://www.moneycontrol.com/india/stockpricequote/infrastructure-general/nbccindia/NBC01">NBCC</a>. It has now sold 2.071 percent stake from April 25, 2018 to November 24 this year, according to NBCC's exchange filing. Following the stake sale, the insurer currently owns 4.477 percent stake in the company.

According to data on NBCC's shareholding pattern as on September 30, 2025, the President of India is the largest promoter of the company, owning 61.75 percent stake.

Earlier this month, NBCC reported a consolidated net profit of Rs 153.5 crore for Q2 FY26, marking a 26 percent year-on-year (YoY) rise from the Rs 122.12 crore net profit reported in the corresponding quarter of the previous financial year. The firm's revenue from operations meanwhile rose 19 percent YoY to Rs 2,910.2 crore during the quarter under review.

&nbsp;
<h3><strong>LIC's stake acquisition in ACC:</strong></h3>
The state insurer has bought another 2 percent stake in <a href="https://www.moneycontrol.com/india/stockpricequote/cement-major/acc/ACC06">ACC</a> through market purchase between May 20 and November 25 this year, according to the latter's exchange filing. This has taken LIC’s stake holding in the Adani Group company to 10.596 percent from 8.582 percent.

According to data on ACC’s shareholding pattern as on September 30, 2025, Adani Group's Ambuja Cements owned a majority stake of 50.55 percent in the company.

In October this year, ACC reported a consolidated net profit of Rs 1,119 crore for Q2 FY26. This marks a whopping 461 percent YoY rise from the Rs 200 crore net profit reported in the same period last year. The firm’s revenue from operations meanwhile rose 30 percent YoY to Rs 5,896 crore during the quarter under review.

Notably, LIC recently brought down its shareholding in Bharat Petroleum Corporation (BPCL) to 6.75 percent, compared with 8.75 percent earlier.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-28-11-2025-liveblog-13700502.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

LIC portfolio rejig: Insurer trims stake in NBCC to 4.5%, hikes ACC stake to nearly 11%

Life Insurance Corporation of India (LIC) has reduced its stake in NBCC (India) to 4.477 percent, the latter announced in an exchange filing on November 28. The insurer meanwhile bought another 2 percent stake in ACC.

LIC shares fell nearly 1 percent to trade at Rs 894.60 apiece while NBCC shares were trading in the green with marginal gains. ACC shares fell more than 1 percent to trade at Rs 1,850 apiece, as seen at 1.35 pm.

&amp;nbsp;
LIC's stake sale in NBCC:
Before the sale of shares, LIC owned 6.548 percent stake in NBCC. It has now sold 2.071 percent stake from April 25, 2018 to November 24 this year, according to NBCC's exchange filing. Following the stake sale, the insurer currently owns 4.477 percent stake in the company.

According to data on NBCC's shareholding pattern as on September 30, 2025, the President of India is the largest promoter of the company, owning 61.75 percent stake.

Earlier this month, NBCC reported a consolidated net profit of Rs 153.5 crore for Q2 FY26, marking a 26 percent year-on-year (YoY) rise from the Rs 122.12 crore net profit reported in the corresponding quarter of the previous financial year. The firm's revenue from operations meanwhile rose 19 percent YoY to Rs 2,910.2 crore during the quarter under review.

&amp;nbsp;
LIC's stake acquisition in ACC:
The state insurer has bought another 2 percent stake in ACC through market purchase between May 20 and November 25 this year, according to the latter's exchange filing. This has taken LIC’s stake holding in the Adani Group company to 10.596 percent from 8.582 percent.

According to data on ACC’s shareholding pattern as on September 30, 2025, Adani Group's Ambuja Cements owned a majority stake of 50.55 percent in the company.

In October this year, ACC reported a consolidated net profit of Rs 1,119 crore for Q2 FY26. This marks a whopping 461 percent YoY rise from the Rs 200 crore net profit reported in the same period last year. The firm’s revenue from operations meanwhile rose 30 percent YoY to Rs 5,896 crore during the quarter under review.

Notably, LIC recently brought down its shareholding in Bharat Petroleum Corporation (BPCL) to 6.75 percent, compared with 8.75 percent earlier.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Defence Industry Stocks
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LIC portfolio rejig: Insurer trims stake in NBCC to 4.5%, hikes ACC stake to nearly 11%

Defence Industry StocksCheck latest stock performance, list of stocks, earnings review & more details about the Defence industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q2 FY25-26

Stock News

Promoter Neena Tyagi sells nearly 6% stake in Yatharth Hospital for Rs 404 crore

Market at lifetime high but IT index down 19% from peak: Sector is ripe for a turnaround, say analysts; here's why

Anthem Biosciences shares jump up to 4% after Nomura's 'Buy' rating; newly-listed stock up 14% from IPO price

Paytm shares jump 3.5% after Goldman Sachs upgrades rating to 'Buy', sees 21% upside

LIC portfolio rejig: Insurer trims stake in NBCC to 4.5%, hikes ACC stake to nearly 11%

Defence Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Defence industry stocks.