BTTV brings you a new market show - 'Daily Calls,' where you can gain invaluable insights and clarity on your market queries through our live sessions featuring expert analysts. Whether you're confused about where to invest, how to invest, or how to build and structure your portfolio.
In this episode of What's Hot, Business Today reviews India's top conglomerates' performance in 2025 as the year draws to a close. The seven major groups - Tata, Reliance, HDFC, Bharti, Bajaj, Adani, and ICICI - collectively added ₹10 lakh crore to market cap, reaching ₹122 lakh crore, or 60% of the Nifty's total. Reliance Industries led as the biggest wealth creator, gaining ₹4.6 lakh crore (up 30%), driven by Jio's rising ARPU and strategic moves. Bharti Group followed, adding ₹3.5 lakh crore, fueled by telecom growth and higher tariffs. Adani, Bajaj, and HDFC delivered solid gains, while Tata emerged as a rare wealth destroyer, hit hard by IT sector challenges, especially TCS's ₹3 lakh crore drop. Guest expert Gaurav Sharma highlights key drivers and 2026 outlook: telecom strength in Bharti Airtel, long-term potential in Adani Ports, Bajaj Auto's export momentum, and HDFC Bank's recovery prospects. Tata may rebound selectively via Tata Steel and IT tailwinds.The show also spotlights emerging themes—Lenskart's post-IPO surge in eyewear, defense order inflows boosting BEL, and proxy plays on gold/silver via Titan and Muthoot Finance—offering investors fresh ideas for the new year.
The Tata Group emerged as one of the biggest wealth destroyers for investors in 2025, an unusual outcome for a conglomerate long associated with steady value creation. The damage was led by Tata Consultancy Services, which alone erased nearly ₹3 lakh crore in market capitalisation as the IT sector grappled with slowing growth, AI-led disruption and global trade uncertainty. Several other Tata stocks - including Trent, Tata Elxsi, Voltas and Tata Technologies - declined 20-40%, further denting investor portfolios. Even Tata Motors, a past outperformer, failed to deliver meaningful gains. While Tata Steel offered some relief with a strong rally on rising metal prices, it was not enough to offset broader losses. The year highlighted how sectoral headwinds and valuation pressures can turn even marquee groups into wealth destroyers.
India’s biggest listed conglomerates emerged as powerful wealth creators for investors in 2025, together adding nearly ₹10 lakh crore to market capitalisation. The seven major groups - Tata, Reliance, HDFC, Bharti, Bajaj, Adani and ICICI - now account for about 60% of the Nifty’s total market value. Leading the wealth creation race was the Reliance Group, which alone added ₹4.6 lakh crore in investor wealth, driven by a nearly 30% rally in Reliance Industries’ stock. Bharti Group followed closely, benefiting from strong telecom performance, while Bajaj, HDFC and Adani also delivered meaningful gains. These large, diversified businesses rewarded investors through scale, earnings visibility and sector leadership, proving that market leadership and consistent execution were key to making investors richer in 2025.
Arpit Beriwal, Analyst - Derivatives, Wealth Management, Motilal Oswal Financial Services outlines his 2026 market outlook, recommending a diverse sectoral approach for investment. He highlights mid-cap banks as strong picks, particularly AU Small Finance, SBI, and Shriram Finance. For the auto sector, he favors M&M, citing its resilience despite a sideways market, with potential growth towards ₹4000-₹4400 levels. In telecom, he continues to back Bharti Airtel due to its solid performance above ₹2000 levels. Beriwal suggests a basket approach across these six to eight stocks, including heavyweights and selective mid-caps, to capitalize on the upcoming market upswing in 2026.
The government has stepped up India’s defence modernisation drive, with the Defence Acquisition Council approving proposals worth nearly ₹80,000 crore in its final meeting of 2025. The clearances focus on enhancing combat readiness across the Army, Navy and Air Force, including upgrades to tanks, helicopters, missile systems, drones and advanced warfare equipment. A strong emphasis on Make in India, Atmanirbhar Bharat and MSME participation continues to reshape the sector, supported by extended emergency procurement windows and fast-tracked acquisitions. Analysts note that while defence companies have long had strong order books, geopolitics and rising indigenisation have lifted both growth prospects and valuations. Defence stocks reacted positively to the news, keeping the sector firmly in focus as India heads into 2026 with sustained military spending momentum.
In this video, market expert Nilesh Jain, Head VP – Technical and Derivatives Research at Centrum, addresses an important investor query on HDFC Bank and State Bank of India. With Meera holding HDFC Bank at ₹995 and SBI at ₹955, the discussion focuses on whether investors should remain bullish on banking stocks or consider diversifying into other sectors. Nilesh Jain shares his outlook for 2026, highlighting continued momentum in banks and NBFCs, while also pointing out that heavyweight stocks like HDFC Bank may deliver steady, long-term returns rather than sharp rallies. He also explains why SBI could offer stronger upside potential, how investors can use market corrections to their advantage, and why both private and PSU banks remain high-quality portfolio bets from a long-term perspective.
Foreign portfolio investors are unlikely to return to Indian markets anytime soon, as global valuations appear far more attractive elsewhere. According to market views, liquidity challenges—especially in mid- and small-cap stocks—make exits difficult during market corrections, discouraging foreign participation. Meanwhile, global markets remain in a strong bull phase, with Asia, particularly China, offering compelling opportunities for institutional investors with a global mandate. Despite this, India continues to see strong domestic support through SIP inflows of nearly ₹30,000 crore every month. If corporate earnings justify these inflows, the market could remain stable over the next two to three quarters. However, the long-term India growth story is not guaranteed and should not be taken for granted.
Despite foreign investors pulling money out of secondary markets, IPOs continue to attract massive inflows, especially from retail investors. With marquee listings like Jio, NSE and other big names lined up, 2026 could be another record year for fund raising. But market expert Gautam Shah of Goldilocks Global Research sounds a strong note of caution. He calls the IPO market a clear bubble, driven by the “greater fool” theory and stretched valuations. Shah points out that nearly half of this year’s IPOs are already trading below issue price, exposing the risks of chasing hype. Instead, he advises investors to stay away from most IPOs and focus on undervalued PSU and traditional companies, which offer better earnings visibility and potential returns over the next few years.
BTTV brings you a new market show - 'Daily Calls,' where you can gain invaluable insights and clarity on your market queries through our live sessions featuring expert analysts. Whether you're confused about where to invest, how to invest, or how to build and structure your portfolio.
As 2025 ends, Indian equities climbed the "wall of worry" amid geopolitics, FII selling, tariffs, and global volatility, yet the Nifty holds near 26,200—driven by dominant domestic liquidity and SIP inflows that absorbed every negativity. Gautam Shah of Goldilocks Global Research calls it a year of price highs clashing with sentiment lows, setting the stage for better 2026 performance through earnings validation. Precious.Precious metals (gold, silver) peaked—take profits—while base metals (copper, zinc) promise continued upside. Volatility remains low (India VIX at multi-year lows), but investors must embrace selectivity: focus on quality leaders, reasonable valuations (10–25 PE), concentration over broad diversification, and sectors like PSUs, metals, banking, auto, and real estate. Avoid adventurous/high-PE stocks and the IPO bubble—many trade below issue prices amid froth.FIIs may stay sidelined, but domestic flows keep markets supported short-term. Shah urges global thinking—China, US hotels, Singapore—for diversification. Stick to fundamentals, top names, and balanced portfolios for long-term wealth in 2026.
As 2025 draws to a close, India's equity markets delivered a mixed verdict. Mainboard IPOs shattered records, raising an unprecedented ₹1.75–1.76 lakh crore through 103 listings—the highest ever—fueled by strong domestic liquidity and marquee names. Yet, initial listing gains often faded, with only about 54 stocks trading above issue price by year-end, as hype gave way to valuation realities in a competitive landscape. Meanwhile, smallcaps endured their worst performance in seven years, with the BSE/Nifty Smallcap indices down ~7–9% YTD—contrasting sharply with Nifty 50's ~10% gains and Sensex's ~9%. Over-leverage, stretched valuations after prior rallies, and earnings misses triggered the rout, hitting retail investors hard in names like Ola Electric and Tejas Networks. Expert Vinit Bolinjkar highlights caution: focus on reasonable valuations, strong sector tailwinds, and quality pedigrees for future IPOs and smallcap recovery. With corrections easing valuations and liquidity abundant, selective opportunities may emerge in 2026—though global risks linger. A year of fundraising highs and broader market caution—stay tuned for 2026 trends!
Defence stocks, especially public sector undertakings, are expected to remain in focus today as the Defence Acquisition Council meets later in the day. According to reports, the council may approve defence procurement proposals worth up to ₹80,000 crore. The meeting will be chaired by Defence Minister Rajnath Singh and is likely to fast-track several critical acquisitions, including emergency purchases. Key items under consideration include the Navy’s urgent requirement for Medium Range Surface-to-Air Missiles developed by DRDO and manufactured by Bharat Dynamics. The Indian Air Force is also expected to seek emergency clearance for the Astra Mark-2 air-to-air missile. These developments could have a direct impact on defence PSUs and related stocks.
Banking and financial services could emerge as the top-performing sector in 2026, according to market expert views. The sector, often called the “mother of all sectors”, is backed by attractive valuations, strong government support and rising liquidity, setting the stage for faster credit growth. Housing finance, credit cards and digital lending are expected to drive momentum over both the short and long term. The strategy suggests allocating 15–20 per cent of a fresh portfolio to banking stocks. Among top picks, SBI stands out for its unmatched reach across India, supporting long-term earnings growth, while HDFC Bank is seen benefiting from a housing boom in 2026–27, improving asset quality. One-year targets of around ₹1,100–1,120 are projected for both stocks, with defined stop-loss levels.
With 2026 emerging as the next key focus year for investors, market participants are keen to identify sectors that can outperform. In this segment, Anshul Jain, Head of Research at Lakshmishree Investments, shares his sectoral outlook and stock ideas for the coming year. He highlights that IT stocks, which have already delivered strong returns in the last quarter, are likely to continue their upward momentum in 2026. Alongside IT, the metal sector is also expected to remain in a bullish phase. Jain also points to selective opportunities in autos, banking, and cement. Stocks such as Bajaj Auto, Hero MotoCorp, IndusInd Bank and Axis Bank are among his preferred picks. He believes the cement sector could see meaningful improvement, supported by capacity expansion, improving margins and a smoother pricing environment after several years of muted returns. Overall, the focus remains on select sector leaders with strong fundamentals and favourable market conditions going into 2026.
Capital market stocks are emerging as a key investment theme for 2026, offering a direct proxy to India’s growing economy and rising market participation. According to the strategy, investors should not miss exposure to exchanges, brokers and wealth managers that benefit from higher trading volumes, volatility and long-term market expansion. Top picks include BSE, which gains from every trade and market movement, effectively offering exposure to the entire market. Groww stands out with nearly 25-26% market share, positioning it well for rising transaction activity. Angel, a leading digital brokerage, offers a favorable risk-reward after recent corrections. Completing the basket is Nuvama Wealth, a pure-play wealth management company. Together, these four stocks provide broad, long-term exposure to India’s capital market growth story.
Real estate could emerge as a strong-performing sector in 2026 after a phase of underperformance, backed by government-led infrastructure spending and RBI interest rate cuts. The outlook favors' developers with high corporate governance standards and a pan-India presence, positioning them to benefit from improving demand and lower borrowing costs. Among top picks, Godrej Properties is seen as a steady long-term wealth creator, supported by strong execution and balance-sheet discipline. From current levels near ₹2,035, the stock is projected to move towards ₹2,400 over the next year, with downside protection around ₹1,940. DLF is another preferred bet, with a target of ₹900 from current levels near ₹700, and a stop-loss at ₹630. Together, these stocks capture the realty recovery theme for 2026.
India’s telecom sector has structurally transformed into a near-duopoly, giving dominant players strong pricing power and earnings visibility. With two large operators controlling nearly 80% of the market, tariff hikes are becoming more sustainable, driving steady ARPU growth. Bharti Airtel continues to benefit from rising ARPU, improving margins and strong free cash flow generation, supported by debt reduction and ongoing 2G-to-4G customer upgrades. Subscriber additions and tariff-led profitability remain key positives. Meanwhile, Indus Towers stands to gain from a potential revival in network investments, especially if Vodafone Idea receives regulatory relief and steps up 4G and 5G capex. Lower receivables risk and higher co-location could further improve Indus Towers’ outlook, making telecom one of the more predictable sectors currently.
New-age business models remain a key growth theme for 2026, offering investors the potential for higher alpha through innovation, scale and digital reach. Among the top picks is Ather, which has delivered one of the strongest post-IPO performances in the past year, emerging as a multi-bagger amid intense competition in the EV two-wheeler space. Strong products, focused management and expanding pan-India presence underpin its outlook. The second pick is Lenskart, backed by its rapidly growing omnichannel model, aggressive expansion within and outside India, and improving earnings visibility. Recent quarterly results have reinforced confidence in its execution. Together, Ather and Lenskart represent high-growth, consumer-focused businesses that could add momentum to portfolios seeking exposure to India’s evolving digital and new-age economy in 2026.
Gold and silver have delivered extraordinary returns over the past few years, with gold nearly doubling from 2019 levels and silver seeing sharp, volatile moves. But after such a powerful rally, how should long-term investors assess the road ahead? In this conversation, we break down what the next 5–10 years could look like for precious metals and how investors should think about strategy at current levels. While structural factors like rupee depreciation continue to support domestic gold returns, the pace of recent gains makes near-term risk–reward less attractive. Experts suggest moving step by step, focusing on shorter horizons, and waiting for corrections before fresh allocations. The message is clear: precious metals remain a long-term hedge, but timing and discipline matter more than ever.
After months of uncertainty driven by policy changes, political developments and global geopolitical risks, Indian equity markets appear to be stabilising towards the end of the year. In this segment, Anshul Jain, Head of Research at Lakshmishree Investments, shares his outlook on Nifty and Sensex for 2026, especially for investors focused on index funds and passive investing. According to Jain, the monthly charts of both Nifty and Sensex indicate the formation of a 15-month cup-and-handle pattern. A sustained breakout above the 26,200–26,300 zone on Nifty could open up a potential target of 30,000, based on the pattern’s measured move. Similarly, Sensex is showing a comparable long-term setup, where a breakout above 86,000 could pave the way for a move towards 1,00,000 over the next 1 to 1.5 years. He advises investors to closely track these monthly breakout levels, as confirmation could offer a significant upside opportunity in 2026.
Promo | Episode 4 - India Today @ 50
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