Shares of ideaForge Technology Limited witnessed significant bulk deal activity on Tuesday, with multiple institutional investors picking up stakes in the company. Leading the transactions, BNP Paribas, through its affiliate BNP Paribas Financial Markets, bought over 5 lakh shares worth approximately Rs 39 crore at Rs 783.29 apiece.

In addition to BNP Paribas, several other investors were active on the buy side. QE Securities LLP acquired 3.4 lakh shares at Rs 779.23 per share, while NK Securities Research Private Limited picked up a similar quantity at Rs 777.94 per share, translating into deals worth around Rs 26 crore. HRTI Private Limited purchased 4.55 lakh shares at Rs 776.98 apiece, and Junomoneta Finsol Private Limited bought 3.49 lakh shares at Rs 780.2 per share.

The bulk deals were executed within a narrow price band of Rs 776 – Rs 783 per share, indicating strong demand for the stock at current levels. The concentrated buying activity highlights growing investor interest in the company, particularly amid increasing focus on defence and drone-related businesses.

Following the bulk deal activity, the stock saw strong traction in the market, reflecting positive sentiment around the counter.

Ideaforge Technology shares ended at Rs 804.10, up by Rs 73.10 or 10% over the Monday closing price.

Shares of ideaForge have given multibagger returns of 111% over a one-year period compared to negative 1% returns by Nifty and negative 4% by the BSE Sensex.

The stock is currently trading above its 50-day and 200-day simple moving average (SMA) of Rs 457 and Rs 468, respectively, according to Trendlyne data.Also read: Adani Ports, Tata Motors and Siemens Energy witness block deal action on Monday

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India’s equity outlook has turned more cautious after the recent crude oil spike, with BNP Paribas trimming its optimism for 2026 and cutting its Nifty target, even as it highlights a fresh set of stock picks positioned to navigate the evolving macro landscape.

In its latest India strategy report, the brokerage flagged that the surge in oil prices amid the Middle East conflict could have a lingering impact on the economy, similar to past episodes in 2008, 2011 and 2022. While the ceasefire offers some relief, it does not fully reverse the macro risks triggered by elevated energy prices.

BNP Paribas has cut its 2026 Nifty target by 11% to 25,500, factoring in weaker earnings growth and a moderation in valuation multiples. The report underlined that higher crude prices could strain India’s fiscal and trade balances, potentially forcing a reduction in government spending and dampening consumption.

Foreign institutional investor (FII) sentiment has also weakened, with India seeing limited participation in the global AI-driven rally and facing concerns around slowing earnings momentum. Additionally, structural risks such as AI-led disruption in service employment could weigh on medium-term growth.

Against this backdrop, the brokerage has shifted its sectoral stance, favouring defensives and segments that historically perform better during periods of high crude prices. It prefers staples, telecom and utilities, citing their resilience, while maintaining a positive view on private sector banks over PSU lenders and NBFCs. IT services, after recent corrections, are also seen as offering value, aided by currency tailwinds.

On the other hand, sectors sensitive to rising input costs — including autos, cement and consumer durables — are expected to face pressure. Infrastructure could also see headwinds due to a potentially tighter fiscal environment.

Historically, oil shocks have had a direct correlation with weaker macro indicators and equity market performance. BNP Paribas noted that prolonged periods of elevated crude prices tend to result in sustained pressure on inflation, currency and consumption, with markets typically underperforming for several quarters.Despite these near-term risks, valuations have corrected to more reasonable levels, offering selective opportunities for investors willing to take a medium-term view.

Among its top 9 stock ideas, BNP Paribas has highlighted Mahindra & Mahindra, Infosys, Persistent Systems, Britannia Industries, Titan, Bharti Airtel, HDFC Bank, ICICI Bank and Axis Bank as preferred picks. These companies are seen as relatively better positioned to deliver earnings resilience and navigate macro headwinds.

Also read: India the new ‘no-go’ zone for FIIs? 7 brutal truths behind $18 billion exodus

At the same time, the brokerage has flagged select underperformers, including TVS Motor, Wipro, AU Bank and IndusInd Bank, where upside appears limited under current conditions.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

Bharti Airtel on Wednesday witnessed a block deal in which French multinational bank BNP Paribas bought 5.4 lakh shares in a transaction valued at Rs 96 crore. The seller in the deal was BoFA Securities.

The shares were bought by BNP Paribas through its investment arm BNP Paribas Financial at a price of Rs 1,782 apiece, flat over the Monday closing price of Rs 1784.30.

Bharti Airtel shares on Wednesday fell despite an upbeat market where Nifty settled at 22,679.40, gaining by 348 points or 1.56% while the BSE Sensex closed at 73,134.32, declining by 1,186.77 points or 1.65%.

The stock fell by Rs 2.30 or 0.13% at Rs 1,782 on the BSE.

Airtel shares have managed to deliver positive one-year returns of 3%. The stock is currently trading below its 50-day and 200-day simple moving averages (SMAs) of Rs 1,925 and Rs 1,975, respectively, according to Trendlyne data.

Also read: Goldman Sachs picks stakes in Jio Financial, BHEL via block deals. Check sellers

Telecom major Bharati Airtel reported 55% year-on-year (YoY) decline in its consolidated net profit at Rs 6,630 crore for the quarter ended December 2025. Consolidated revenues for the third quarter came in at Rs 53,982 crore, up 20% YoY.The slump in bottomline was mainly due to the higher base of last year, which occurred on account of an exceptional gain.

Also read: BNP Paribas buys stakes in 4 stocks via block deals; LG Electronics, Max Health & 2 more

Consolidated EBITDA for the quarter stood at Rs 31,144 crore with EBITDA margin of 57.7%

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

Adani Green Energy witnessed a couple of block deals on Tuesday in which French multinational bank BNP Paribas was the buyer while Morgan Stanley was the seller.

BNP bought 6.9 lakh shares in the company through its affiliate BNP Paribas Financial Markets in a deal valued at Rs 56 crore. The shares were purchased at a price of Rs 808.3 apiece, a 1% discount from Monday’s closing price of Rs 816.45.

Morgan Stanley sold as many shares via its investment arm Morgan Stanley Asia (Singapore) Pte.

Adani Green Energy shares ended at Rs 839 on the NSE today, up by Rs 22.55 or 2.76%.

Adani Green Energy shares have underperformed the broader markets, declining 12% over a one-year period. In contrast Nifty and the BSE Sensex have declined by 2% and 4%, respectively.

The stock has slipped below its 50-day and 200-day simple moving averages (SMA) of Rs 908 and Rs 987, respectively, according to Trendlyne data.

Adani Green reported a net loss of Rs 41 crore in the December quarter, compared with a profit of Rs 492 crore in the year-ago period and Rs 583 crore in the September quarter. The loss/profit is attributable to the company’s shareholders. Total income during the reporting period rose 8% year-over-year (YoY) to Rs 2,837 crore.Revenue from power supply increased 21% YoY to Rs 2,420 crore in the October–December 2025 period, while EBITDA for the segment rose 23% YoY to Rs 2,269 crore.

Strong revenue and EBITDA growth in the power supply business was driven by greenfield capacity addition of 5.6 GW, deployment of advanced renewable energy technologies, strong plant performance and the commissioning of new capacities at resource-rich sites in Khavda, Gujarat, and Rajasthan.

“In 2026, Adani Green has continued its growth trajectory, adding 5.6 GW of renewable energy capacity, representing nearly 14% of all new solar and wind capacity installed across India,” said Ashish Khanna, CEO of Adani Green.

The company’s operational capacity reached 17.2 GW, keeping it on track to achieve its 50 GW target. The Khavda project, which is the world’s largest renewable energy installation, is progressing at an accelerated pace, the company said.

Also read: Brand Concepts bulk deal: Ashish Kacholia exits microcap as stock price erodes 36% in a year

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

French multinational bank BNP Paribas on Friday bought 5.28 lakh shares worth Rs 64 crore in State Bank of India (SBI) via a block deal. The seller in the deal was Societe Generale.

The shares were bought via its investment arm BNP Paribas Financial Markets at a price of Rs 1,204 apiece versus the Thursday closing price of Rs 1,209.50. Today, the SBI shares ended at Rs 1,201.80, down 0.64% from the previous closing price.

SBI shares have rewarded investors with returns of nearly 70% in the last 12 months, significantly outperforming 12% returns by Nifty and 9% by the BSE Sensex. Its shares are currently trading above their 50-day and 200-day simple moving averages (SMAs) of Rs 1,073 and Rs 911, respectively according to Trendlyne.

SBI recently overtook IT bellwether Tata Consultancy Services (TCS) to become India’s fourth-largest company by market capitalisation, with its valuation crossing Rs 11 lakh crore. The only companies ahead of SBI are Reliance Industries, HDFC Bank and Bharti Airtel.

Also read: Vishal Mega Mart bulk deal: Govt of Singapore, HDFC MF buy stakes as promoter sells 14% for Rs 7,636 crore

SBI reported a 24% year-on-year (YoY) growth in its standalone net profit at Rs 21,028 crore in the third quarter while its net interest income (NII) increased 9% YoY to Rs 45,190 crore in the quarter under review.

The profit reported during the quarter was highest-ever for the bank, which came on the back of healthy loan growth.The lender’s net interest margin stood at 2.99% in Q3FY26, while domestic NIM came in at 3.12%. For the nine months ended December 2025, domestic NIM was 3.08%.

Asset quality continued to improve, with the gross NPA ratio declining to 1.57%, down 50 basis points YoY. Net NPA ratio improved to 0.39%, lower by 14 basis points.

Provision coverage ratio, including AUCA, stood at 92.37%, while PCR excluding AUCA was 75.54%. Slippage ratio for the quarter remained contained at 0.40%, and credit cost stood at 0.29%.

Also read: SBI’s 70% rally narrows valuation gap with HDFC Bank, ICICI — buy, hold or book profits?

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)