Sensex Today | Stock Market LIVE Updates: Nifty rises closer to 24,800; CONCOR shares in decline

Market Watch: Siddhartha Khemka, Head-Research, B&D, Motilal Oswal Financial Services
Grasim Industries
We believe that the core business would not contribute meaningfully in the coming quarters. However, if you look at paint businesses, that is something that the market is excited about, and that is where you see that losses have come down. The business, within six months of launch, has become the third largest decorative paint brands with the five of the plant started operations, the sixth one will be starting commercial operations, which is in West Bengal, in the first half of the current financial year, FY26 which is again estimated to contribute to the overall growth.

Currently, we expect that they are about 24% of the decorative paints market capacity in India. And once that turns profitable, that could be a good contributor to the profitability. Hence, bearing the core business which continues to remain sluggish, we believe that paints is something that could drive the stock going forward. Today, I believe stock could be under pressure and not much to cheer off from the core business, but from a long-term perspective, paint is something that the market will definitely track.

BSE
BSE is one stock which has consistently outperformed. We have been having a positive view, Q4 numbers where stellar. What we are seeing is that in the derivative segment, they have been gaining market share. They have this key expiry day on Tuesday, where I think lot of action is happening. And with NSE applying to the regulators to shift their expiry to Tuesday, that could be a big negative, if the regulators were to accept. In the past, we have seen that with any changes that NSE does, BSE is also proactively moving its or outlines to move its own Sensex expiry. Maybe, if Nifty is moved to Tuesday, Sensex could be moved back to Thursday, so that I think market will take a look at it. But otherwise, what we see is that the core business continues to do well. We see that the last regulation where the SEBI clearly came out and said that each exchange will have only one benchmark indices on a weekly expiry. That is a very favourable regulation and augurs well for BSE’s robust growth in the derivative segment.  We continue to have a positive view. Yes, valuations are bit expensive. Any correction and clarity on NSE’s expiry plus the Sensex expiry going forward will give more clarity on the way forward.