Credo Technology delivered strong Q1 growth and beat earnings expectations, but shares fell as investors demanded bigger surprises. AI demand remains strong, while margins and growth sustainability stay under scrutiny.
Kwality Walls shares dropped on Wednesday as Reliance Consumer Products entered India’s ice cream market with Bombay Creamery, raising competition concerns. The stock extended its losing streak to seven sessions, declining 11% during the period. RCPL plans a pan-India rollout after launching the brand in western India, with prices starting at Rs 10.
Shein shares fell over 3% after a weak Hong Kong debut, highlighting investor concerns over valuation, slowing growth and shrinking margins. The $1.7 billion IPO valued the fast-fashion retailer at $26.5 billion, far below its 2022 peak. Rising tariffs, regulatory scrutiny, customs costs and competition are increasingly challenging Shein’s business model and growth prospects.
Smallcap stocks have shown a stunning revival after hitting recent lows, with numerous companies experiencing value increases over double their 52-week lows. This robust recovery is backed by better earnings reports and a resurgence in investor confidence. The positive trends span multiple sectors, indicating a broad-based rebound as investors increasingly redirect their focus toward smaller companies following a challenging correction period.
Indian automakers reported strong August sales across passenger vehicles, commercial vehicles and two-wheelers, while tractor growth moderated. Brokerages highlighted Mahindra & Mahindra, Tata Motors PV, TVS Motor and Bajaj Auto among the key outperformers, with Nomura and Motilal Oswal sharing their preferred auto picks.
Japanese equities tumbled on Wednesday as renewed US-Iran military strikes pushed oil prices higher and raised concerns over economic growth, while surging government bond yields pressured technology and chip stocks. The Nikkei fell nearly 3%, with defensive drugmakers bucking the broader market decline.
On September 1, four Nifty500 stocks that gained over 3% were highlighted in the RSI Trending Up scan, based on data from StockEdge.com. An uptrend signal is generated when the RSI value crosses above 50 from below, indicating strengthening price momentum and potential upward movement in the stocks.
On September 1, four Nifty500 stocks appeared on the ‘White Marubozu’ bullish scanner, according to StockEdge’s technical scan data. The pattern reflects strong buying pressure, with the stock opening at or near its low and closing at or near its high.
Purple Style Labs IPO enters its third and final day of bidding, with the issue subscribed 24% on the second day and a grey market premium of around 1%. While retail participation has been relatively stronger, the company’s FY26 loss and limited visibility on sustainable profitability have led SBI Securities to assign a ‘Neutral’ rating to the IPO.
Priority Jewels IPO allotment is likely to be finalised today after the Rs 91.05 crore issue was subscribed 100.45 times. With the IPO’s GMP at around Rs 28, or 14%, investors are expecting a potentially strong listing on September 4. Here’s how investors can check their allotment status through the registrar, NSE and BSE websites.
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