External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

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Thematic (Sector/Industry)

<ul><li>ICICI Bank: ICICI Bank’s (ICICIBC) earnings beat estimates, largely driven by lower-than-expected credit costs and strong margin performance, partly offset by softer loan growth</li><li>Loan growth (+13% YoY) was impacted by slower traction in retail loans offset by continued momentum in business banking</li><li>Deposit growth (~14% YoY) was healthy, as end-period CASA ratio improved to 41.8% (+135bps QoQ), driven by strong seasonality in current account balances (+22% QoQ)</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

ICICI Bank: ICICI Bank’s (ICICIBC) earnings beat estimates, largely driven by lower-than-expected credit costs and strong margin performance, partly offset by softer loan growthLoan growth (+13% YoY) was impacted by slower traction in retail loans offset by continued momentum in business bankingDeposit growth (~14% YoY) was healthy, as end-period CASA ratio improved to 41.8% (+135bps QoQ), driven by strong seasonality in current account balances (+22% QoQ)Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: ICICI Bank, Angel One

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The semiannual index rebal events of the NIFTY 50 index and NIFTY 100 index will take place near the end of September 2026.</li>
<li>There will be one change for NIFTY 50 index and five changes for NIFTY 100.</li>
<li>In this insight, we take a look at our latest flow expectations for the confirmed index changes.</li>
</ul>


The semiannual index rebal events of the NIFTY 50 index and NIFTY 100 index will take place near the end of September 2026.
There will be one change for NIFTY 50 index and five changes for NIFTY 100.
In this insight, we take a look at our latest flow expectations for the confirmed index changes.


Quiddity NIFTY Sep26 Results and Flow Update: 11/12 Correct; ~US$940mn Combined One-Way Flow

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>Retail investor activity and demat additions slowed sharply in early 2025, with new account openings falling to a multi-year low of 2.3Mn in February.</li>
<li>This signals a broader sentiment reset after a 5-month market correction and FPI outflows, impacting brokers, depositories like CDSL, and exchange volumes.</li>
<li>The euphoria phase is cooling, but the long-term equity culture remains intact. Investors should expect near-term consolidation, with stronger players gaining share.</li>
</ul>


Retail investor activity and demat additions slowed sharply in early 2025, with new account openings falling to a multi-year low of 2.3Mn in February.
This signals a broader sentiment reset after a 5-month market correction and FPI outflows, impacting brokers, depositories like CDSL, and exchange volumes.
The euphoria phase is cooling, but the long-term equity culture remains intact. Investors should expect near-term consolidation, with stronger players gaining share.


India’s Capital Markets in Early 2025: Retail Activity Cools Amid Shifting Currents

India focused: IPO, special situations, Stylus Holdings

Himanshu Dugar

India focused: IPO, special situations

Stylus Holdings

Stylus Holdings is a buy-side equity research firm. We offer bottom-up investment ideas as well as provide on demand equity research and portfolio tracking. 
At Stylus, our focus is to identify market dislocations that can generate 20+% IRR with a reasonable margin of safety. As part of our research process, we do a deep dive into the fundamentals of the company, evaluate their competitive positioning and assess their valuation.
Our investment team is led by Himanshu Dugar. Himanshu is a Chartered Accountant and a CFA charter holder. He has 10+ years of active experience in the stock market with stints at CRISIL Research, a S&P Global copmany and Miras Investments, a single family office based in Dubai.

Equity Research Firm

Equity Capital Markets

National Stock Exchange of India / Equity Capital Markets

National Stock Exchange of India (NSE IN)

<ul>
<li>SEBI has approved the draft prospectus of NSE. As per news reports, the management has completed extensive roadshows and is looking to launch the IPO as early as 21st September.</li>
<li>The new Closing Auction Scheme by SEBI impacts options trading—the NSE's primary revenue driver.</li>
<li>Renewed focus on NSE's dependence on options revenue amid SEBI's regulatory crackdown is raising concerns that the exchange’s valuation is stretched too high.</li>
</ul>


SEBI has approved the draft prospectus of NSE. As per news reports, the management has completed extensive roadshows and is looking to launch the IPO as early as 21st September.
The new Closing Auction Scheme by SEBI impacts options trading—the NSE's primary revenue driver.
Renewed focus on NSE's dependence on options revenue amid SEBI's regulatory crackdown is raising concerns that the exchange’s valuation is stretched too high.


NSE: SEBI Approves IPO; Valuations Seem Demanding Amid CAS Fracas

<ul>
<li>The NDA's landslide victory in Maharashtra has ushered in a period of political stability, boosting market sentiment and investor confidence. This will increase government spending on infrastructure &amp; rural development.</li>
<li>Analysts predict a modest recovery in corporate earnings in the second half of the fiscal year, potentially triggering a "mini risk-on rally". </li>
<li>While women-centric welfare schemes contributed to the NDA's success, concerns arise regarding their potential strain on state finances. </li>
</ul>


The NDA's landslide victory in Maharashtra has ushered in a period of political stability, boosting market sentiment and investor confidence. This will increase government spending on infrastructure &amp; rural development.
Analysts predict a modest recovery in corporate earnings in the second half of the fiscal year, potentially triggering a "mini risk-on rally". 
While women-centric welfare schemes contributed to the NDA's success, concerns arise regarding their potential strain on state finances. 


Maharashtra Elections Inject Optimism into Indian Markets

India

Angel One is an Indian technology-led financial services company that operates as a digital-first retail brokerage. It provides a comprehensive suite of investment and trading products across equity, commodity, and currency segments, along with depository services, margin trading, and mutual fund distribution. The company was founded in 1996 and is headquartered in Mumbai, India.

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Angel One (ANGELONE IN)

HSIE Results Daily: ICICI Bank, Angel One

ICICI Bank: ICICI Bank’s (ICICIBC) earnings beat estimates, largely driven by lower-than-expected credit costs and strong margin performance,...

HDFC Securities

Quiddity NIFTY Sep26 Results and Flow Update: 11/12 Correct; ~US$940mn Combined One-Way Flow

From 21st August 2026 close to 15th September 2026 close, the ideas suggested in this insight generated an average return of approximately +6%. The...

Janaghan Jeyakumar, CFA

India’s Capital Markets in Early 2025: Retail Activity Cools Amid Shifting Currents

Retail investor activity in early 2025 slows sharply, with new demat account openings hitting a multi-year low of 2.3Mn in Feb, signaling a...

Nimish Maheshwari

NSE: SEBI Approves IPO; Valuations Seem Demanding Amid CAS Fracas

Initially touted as the largest public offering in India, NSE's IPO has been scaled back sharply. The valuations have dropped from their original...

Himanshu Dugar

Maharashtra Elections Inject Optimism into Indian Markets

NDA's victory in Maharashtra boosts market sentiment, predicts recovery in corporate earnings, but raises concerns about strain on state finances...

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

HSIE Results Daily: ICICI Bank, Angel One

ICICI Bank: ICICI Bank’s (ICICIBC) earnings beat estimates, largely driven by lower-than-expected credit costs and strong margin performance,...

HDFC Securities

Quiddity NIFTY Sep26 Results and Flow Update: 11/12 Correct; ~US$940mn Combined One-Way Flow

From 21st August 2026 close to 15th September 2026 close, the ideas suggested in this insight generated an average return of approximately +6%. The...

Janaghan Jeyakumar, CFA

India’s Capital Markets in Early 2025: Retail Activity Cools Amid Shifting Currents

​Retail investor activity in early 2025 slows sharply, with new demat account openings hitting a multi-year low of 2.3Mn in Feb, signaling a...

Nimish Maheshwari

NSE: SEBI Approves IPO; Valuations Seem Demanding Amid CAS Fracas

Initially touted as the largest public offering in India, NSE's IPO has been scaled back sharply. The valuations have dropped from their original...

Himanshu Dugar

Maharashtra Elections Inject Optimism into Indian Markets

​NDA's victory in Maharashtra boosts market sentiment, predicts recovery in corporate earnings, but raises concerns about strain on state finances...

Nimish Maheshwari

Retail investor activity in early 2025 slows sharply, with new demat account openings hitting a multi-year low of 2.3Mn in Feb, signaling a...

NDA's victory in Maharashtra boosts market sentiment, predicts recovery in corporate earnings, but raises concerns about strain on state finances...