Weekly Market Review & Top Stocks In Focus For The Week Ended November 14, 2025

Indian Equity Markets had its own share of ups and down in the final week of earnings season and more than the numbers and management commentary, investors were closely monitoring the exit polls from the Bihar election and other global developments.

If one would want to summarise how the September quarter earnings have been then one would say that the numbers were good in some cases and not bad as many were fearing before the start of the earnings season. Domestic focussed sectors like Banks, Cement, Energy, Infra, Hotels, Capital Goods, Auto, selective IT services and metal delivered healthy growth while others were facing some headwinds. The only concerning part from Q2FY26 Results was that despite good earnings witnessed in certain pockets, profit booking has been evident across markets resulting in muted stock performance even for ones that reported a good show during the quarter. This is something we highlighted in the past as well that the market is facing selling pressure around 26100-26300 levels hence in the near term speed breakers might be there but over the long run the journey will be a smooth ride.

Interestingly what caught everyone’s attention was U.S. President Trump’s positive comments on the US-India trade deal as he said that the deal is nearing completion to reduce tariffs which would be beneficial for the market and both the countries. This resulted in a strong rebound, recovering over 1% from its intraday low and closing with solid gains near the 26,000 mark, supported by optimism both locally and globally.

Apart from this, investors remained cautious ahead of Bihar Assembly election results as all attention shifted to this politically significant state. Most exit polls had indicated that the NDA, led by the BJP and JD(U), is poised for a comfortable win with 130–170 seats, well above the majority mark of 122. If this comes true then it will strengthen the ruling party and the focus will shift towards policies and growth that the market typically likes. As we write counting clearly indicates that it is a landslide victory for BJP+ 

On the domestic front, improved quarterly earnings and a rally in global markets will further lift investor sentiment supporting the US Trade deal almost certain. As we remain keen observers of what’s happening in the market, we continue to have a domestic focussed approach with bottom up focus on individual companies, growth of the business and of course the valuation comfort. This disciplined approach we believe will generate good returns and protect downside risk as we go along the remaining quarter of FY26.  

The recent policy measures, GST reduction, and improving earnings outlook will have a positive outlook on the economy and markets as well, hence we continue to remain positive on Indian equities. With this let me present to you our weekly market review.

How Did the Markets Fare Last Week?

On a weekly basis ending on Friday, the Indian benchmark indices ended in green. Sensex and Nifty were up 1.6% each while Midcaps were up with 0.9 % during the week. 

What Might Keep the Markets Busy Into the Next Week?

As the September quarter results season comes to end, the market will now once again turn its focus towards macro events, valuations and analyzing the hits and misses of the earnings season. On the domestic front, we have the result of Bihar election and development on the same will be important to track. On the data front we have WPI Inflation, Trade Deficit, Bank Loan, FX Reserves, HSBC Manufacturing/Composite/Services PMI that will be monitored. Globally, the important FOMC Minutes, Fed Official Speech, Producer Price Index, Retail Sales, S&P Global Manufacturing/Services PMI, and Initial Jobless Claims among others will keep markets busy.  

We have seen during the week some positive commentary coming from President Trump on trade negotiations with India, however things are yet to finalise hence development related to India-US trade deal and commentary on trade deals or new announcements continues to keep the market busy.

Crude and FII Flows

Brent Crude Oil remained steady at $64/bbl after declining around 4% in previous session as investors weighed concerns about global oversupply with looming sanctions against Russia’s Lukoil. On the other hand, FIIs were Net Sellers for the week.

Sector in Focus

IT, Pharma & Auto remained in focus during the week.

Stocks That Remained In Focus During The Week

NSDL: 

• NSDL reported an 18.3% YoY rise in standalone PAT to Rs 120.4 crore in Q2FY26, with total income up 18.9% to Rs 250.6 crore. The company’s demat account market share surged to 17.6%, reaching 4.19 crore accounts, while its equity market share in the unlisted space rose to 73%. NSDL maintained an 86.3% share in total demat custody value and received a Rs 18.3 crore dividend from its subsidiary NDML, with net worth standing at Rs 1,970.9 crore as of 30th September 2025.

CESC Ltd:

• CESC Green Power Limited, a subsidiary of the Company has received today the in-principle approval of the High-Level Clearance Authority, Government of Odisha, approving to set up a manufacturing facility of 3 GW Solar Cell, 3 GW Solar module, advanced chemistry battery cell pack of 5GWh and advanced solar components along with 60 MW AC captive power plant in Dhenkanal district with an investment of around Rs. 4,500 crores in three phases. 

Asian Paints: 

• With reference to earlier disclosures wherein the company had proposed setting up a Rs 2,000 crore water-based paint manufacturing facility with a capacity of 4 lakh kilolitres per annum at Pithampur, Madhya Pradesh. Following the allotment of land by MPIDC, the company has now received approval from the CCIP to commence manufacturing within three years from the date of receiving Environmental Clearance (EC). There is no impact on the incentives or benefits granted by the state government. The company will provide further updates on material developments as applicable.

Medplus:

• Optival Health Solutions Private Limited, a subsidiary of the company, has received one suspension order for a Drug License of a store situated in the state of Andhra Pradesh for a period of seven days. The impact on financial operations is likely to be around Rs 3.82 lakhs as per press release.

IFGL Refractories: 

• The company reported sustained growth with consolidated revenue rising 18% and EBITDA up 10% YoY. Domestic operations grew 27%, accounting for 78% of total sales, while recovery in Europe and a 25% rise in U.S. business supported global expansion. Ongoing capex aims to boost capacity and strengthen the product mix. The company remains focused on value-added offerings for the steel sector and broad geographic diversification to ensure long-term margin stability.

Waaree Energies:

• The company has received an order for supply of 360MW solar modules from a renowned customer who is a developer and owner-operator of utility scale solar and energy storage projects. This is one time order for supply of solar modules is to be completed in FY26.

Hexaware Technologies:

• Hexaware Technologies announced the launch of two new insurance solutions developed exclusively for Google Cloud. The offerings strengthen Hexaware’s collaboration with Google and reflect a shared focus on accelerating digital transformation through automation, AI, and scalable cloud-native architectures for the insurance industry. 

TARIL: 

• Transformers & Rectifiers India Ltd (TARIL) shares hit a 20% lower circuit on November 10, 2025, after weak Q2FY26 results and a World Bank debarment. Revenue remained flat at Rs 460 crore, while EBITDA and PAT fell 19% YoY each to Rs 65.4 crore and Rs 37.5 crore, with margins under pressure. The World Bank’s ban over a past Nigerian project raised concerns about export prospects. Management later revised FY26 revenue guidance down to Rs 2,500 crore from Rs 3,500 crore earlier but retained the FY28 target of Rs 8,500 crore and announced a new Rs 103 crore order from GETCO.

NBCC: 

• NBCC (India) Ltd has bagged a Rs 340.17-crore contract for Phase-I construction of the Central University of Kashmir at Tulmulla, Ganderbal, strengthening its institutional infrastructure portfolio.

Nippon Life India AMC:

• The company said its board has approved a strategic partnership with European asset manager DWS Group, which will acquire up to 40% stake in NAM India’s AIF arm to jointly build an AIF franchise in India.