Shares of Bharat Heavy Electricals were trading 2 percent higher at Rs 75.40 after the company said its board will consider a share buyback on Thursday. The stock rose today despite weakness in the broader market. The share has fallen nearly 19 percent so far in 2018. BHEL will also consider Jul-Sep earnings along with the buyback on Thursday. Shares of BHEL were trading up 1.96 percent at Rs 75.40.

The BSE Sensex traded at 33,961, down by 173 points, or 0.51 percent at 10.10 am, while the Nifty inched towards the 10,200 levels, trading at 10,192.10, lower by 53 points, or 0.52 percent. Broader markets also showed signs of recovery with the Nifty MidCap marginally down by 0.22 percent, while the BSE MidCap slipping by 0.36 percent. Nifty Bank traded lower by 0.24 percent, but traded above the 25,000 mark.

Shares of Asian Paints fell more than 6 percent to hit an over-six-month low of Rs 1,126.55 due to disappointing July-September earnings and worries over future profit growth. At 9.30 am, shares of Asian Paints were down 5.2 percent at Rs 1,138, while Berger Paints India was down 5.3 percent at Rs 265 and Kansai Nerolac Paints was down 6.4 percent at Rs 362. (Cogencis)

Indian shares opened lower on Tuesday, tracking weak global cues. The Sensex started 234 points lower, or 0.69 percent, at 33,899.80, while the Nifty started at 10,158, down by 87 points, or 0.85 percent. The Nifty Bank dipped nearly a percent, trading at 24,835, while the Nifty MidCap slipped a percent. Asian Paints, IOC, Indiabulls Housing Finance, HPCL and BPCL were among top index losers, declining by 4.92 percent. Asian Paints fell nearly 5 percent after a disappointing earnings in July-September quarter. IndusInd Bank lead among index gainers, jumping 1.7 percent, while shares of Adani Ports, Coal India, Tech Mahindra and Gail rose by up to 1.11 percent. 

The Indian rupee opened lower at 73.70 against the US dollar. On Monday, the home currency closed at 73.55 against the greenback. Meanwhile, benchmark indexes look set for a weak start tracking tepid Asian cues. The BSE Sensex settled at 33,936, down 198 points, or 0.6 percent in pre-open, while the NSE Nifty50 started a tad above 10,150 level, at 10,152, declining by 93 points, or 0.90 percent. Asian Paints shares plunged 5 percent in pre-open after July-September earnings came below estimates.

IDFC Securities on GSK Pharma:
Despite likely turnaround, rich valuations and limited triggers would cap upside. 
Reiterates UNDERPERFORM, target at Rs 1,185/share.
Maintain FY19/20 earnings estimates.

Macquarie on Jubilant Life:
Even as LSI is recovering, pharma business continues to deliver.
Pharma contribution to EBITDA at 81 percent in Q2FY19 vs 65 percent in Q2FY18.
Remain bullish on the stock; it’s top midcap pharma pick. 
Maintain outperform, target cut to Rs 1,038 from Rs 1,192/share.
Stock is trading at attractive FY20 PER Of 10x.

IDFC Securities on Hindustan Zinc:
UNDERPERFORM rating, target cut to Rs 243 from Rs 256/share.
H2FY19 EBITDA is expected to be up 30 percent from H1FY19.

Deutsche Bank on Hindalco:
Reiterates BUY, target raised to Rs 295 from Rs 280/share.
Record deficit to underpin aluminium price strength.
Raise FY19/20 earnings estimate by 9/12 percent. 
For every Rs fall vs $, company’s EPS rises by 4.5 percent. 

Macquarie on Hindustan Zinc:
Higher cost guidance to weigh on earnings.
Commodity prices to remain unfavourable.
Reiterates UNDERPERFORM, target at Rs 253/share.

Credit Suisse on Hindustan Zinc:
Maintains NEUTRAL, target at Rs 295/share.
High interim dividend reflects reinvestment challenges.
FY19/20e EPS falls 14 percent/8 percent.
Do not assume any further dividend payouts this year.
Problem of excess cash and challenge to find avenues for reinvestment caps upside.
FY19 volume guidance looks steep, remain cautious.

HSBC on Inox Leisure:
Reported lower box office revenue growth vs the industry.
Other revenue streams continued growth momentum.
Screen addition was also healthy.
Maintains BUY call with a target of Rs 335/share. 
Cut FY19 earnings estimates on the back of lower footfalls.

Macquarie on IndusInd Bank:
Maintains OUTPERFORM, target at Rs 1,975/share.
Bank has strong loan growth and earnings power.
Bank can easily manage some of the recent issues well 
Track record of managing asset quality has been good
It does not expect any large divergences in RBI audit and this is encouraging.
ROAs & ROEs will get a fillip after the acquisition and integration of Bharat Fin.

Axis Cap on Hindustan Zinc:
Downgrades to HOLD from Buy, target cut to Rs 301 from Rs 309/share.
Increase EPS estimate for FY19/20 to Rs 24/25. 
Expect multiples compression across sectors going ahead.
Cost of production for zinc remains high.

Bharti Airtel: The telco launches Google Assistant based Digital Customer Care to help customers resolve their account related queries.

Syndicate Bank: The lender has received capital infusion of Rs 728 crore from the government in lieu of preferential allotment of shares.

IL&FS: The new board of debt-laden Infrastructure Leasing and Financial Services (IL&FS) will come up with a revival plan for the lender that could include selling stakes in some of its businesses, Reuters reported.

Asian Paints: The company on Monday posted a 14.4 percent fall in second quarter profit, which missed analysts' estimates, hurt by higher expenses. Net profit fell to Rs 493 crore ($67.02 million) in September quarter from Rs 576 crore a year earlier.

SpiceJet: Ratings agency Crisil has downgraded its ratings on the bank facilities citing mounting pressures on cost structure and a limited ability to pass it on consumers due to cutthroat price wars. It has downgraded the facilities to 'CRISIL BB-/Negative/CRISIL A4' from 'CRISIL BBB/Stable/CRISIL A3+'.

Check more Hot Stocks for today.

Macquarie on Asian Paints:
NEUTRAL call, target at Rs 1,300/share.
Decoratives volume growth continues in double digits.
Margin pressure evident in Q2.
Recent price hikes to alleviate some pressure.

Deutsche Bank on Asian Paints:
BUY call, target at Rs 1,600/share.
Expect convergence of multiple tailwinds to drive industry recovery.
Forecast a sustainable medium-term recovery in paint demand.
Model earnings CAGR of 21 percent over FY19-21.

IDFC Securities on Kansai Nerolac:
Reported disappointing Q2; volume growth and margin below estimates.
Volume growth outlook in India business could face near-term slowdown.
Gross margin is near to bottoming out. 
Expect margin trajectory to gradually improve.
Factoring in 16 percent revenue CAGR and 110 bps improvement in margin for FY19-21.
See earnings CAGR of 18 percent over FY19-21.
Maintains OUTPERFORM, target cut to Rs 467 from Rs 548/share.

CLSA on Kansai Nerolac:
Downgrades to UNDERPERFORM from Outperform, target price cut to Rs 400 from Rs 550/share.
Net earnings declined YoY for a third quarter in a row.
Outlook upbeat on decorative but there is concern for industrial, including auto.
Pace of the input price increase is a concern, including Rupee depreciation.
Product price hikes in decorative should help to some extent. 
More price hikes may be required in industrial.
Cut FY19-21 EPS estimate by 13-17 percent.

Deutsche Bank on Kansai Nerolac:
BUY call, target cut to Rs 525 from Rs 575/share.
Reported weak results on all counts.
Cut earnings by 8.5 percent for FY19-21.
Expect volume growth momentum in decorative to sustain in H2.
Model earnings CAGR of 18 percent over FY19-21.

Morgan Stanley on Asian Paints:
Silver lining for the quarter is the double-digit volume growth. 
Implied adverse mix impact on domestic revenue is 4.5 percent.
Higher depreciation costs drove the 14 percent adjusted PAT decline.
International market affected by non-availability of forex and challenging economic environment.

Dewan Housing Finance Corporation: Jasmine Capital Investments Pte Ltd sold 71,19,283 shares of the company at Rs 197.77 per share.

Hathway Cable & Datacom: Rajasthan Global Securities bought 55,68,623 shares of the company at Rs 29.27 per share while Ashish Dhawan sold 80,58,738 shares at Rs 29.04 per share.