Markets Today: GIFT Nifty Signals Weak Start; Wakefit Share Capital Recast, Kotak Bullish on HDFC Bank
Indian markets were indicated to open on a cautious note on Monday, January 19, 2026, as GIFT Nifty (earlier SGX Nifty) traded lower in early hours. At around 7:28 am IST, GIFT Nifty was down 171.5 points or 0.67 percent at 25,572, compared to the previous close. The index opened at 25,702, touched a high of 25,702, and a low of 25,562.5, signalling negative sentiment ahead of the domestic market opening.
Wakefit Innovations: Share Capital Reclassification and Upside Arrangement Approved
Wakefit Innovations’ shareholders have approved the reclassification of the company’s authorised share capital, converting preference shares into equity shares. Shareholders also approved an ‘upside arrangement’ under an amended Shareholders’ Agreement involving certain investors and promoters.
Under this arrangement, promoters will be entitled to 30 percent of the proceeds generated above a 2.5x return threshold for specified investors, applicable during future exit or liquidation events. To formalise this structure, the company has inserted Article 168 into its Articles of Association. The move is expected to align promoter incentives with value creation while providing downside protection to investors.
HDFC Bank: Kotak Securities Maintains Positive View
Kotak Securities reiterated its ‘Add’ rating on HDFC Bank, maintaining a target price of ₹1,050. The brokerage remains constructive on the bank’s medium-term outlook, citing its strong franchise, balance sheet strength, and earnings visibility.
Overall, early market indicators pointed to a weak start amid mixed corporate developments, with investors likely to track global cues, stock-specific actions, and brokerage calls through the session.
