Economic Times
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Biggest IPO This Week: Rentomojo Seeks Rs 1,256 Crore From Investors
From September 7 to 11, India's IPO market will see 16 issues open for subscription. Rentomojo, Kanohar Electricals, and others lead the lineup with strong GMP trends indicating selective but healthy investor appetite. Notable issuers include Pranav Constructions (Rs 351 crore, 35% GMP), Glass Wall Systems (Rs 428 crore, 23% GMP), and Rentomojo (Rs 1,256 crore, 38% GMP).
Jain's Fund Goes 100% Long on Bullish Domestic Signals in July
Arihant Jain discussed the Sapphire Equity Long-Short SIF, which can hold 75–100% in long positions and short up to 25%. The fund uses a multi-factor model focusing on quality, valuation, price momentum, and earnings momentum. In July, they were 100% long due to bullish domestic signals. Jain expects large-caps to offer better risk-adjusted returns as mid- and small-cap stocks are already pricing in higher growth rates.
Oil surges 8%, Sensex gains 363 points as US jobs data beats forecasts
On Friday, Sensex gained 363 points to close at 76,515 and Nifty 50 rose over 24 points to end below 23,898. Oil prices surged by 8%, raising crude forecasts to $86-$95 a barrel due to US-Iran tensions. Rising bond yields and stronger-than-expected US jobs data increased rate hike bets, while foreign investors returned with FPI inflows crossing $3.2 billion in August. Technical indicators suggest Nifty could face further correction if it breaks below 23,700.
Sharp 49%-81% drops hit 11 penny stocks, signaling heavy selling pressure
Over the past six months, ACE Equity identified 11 penny stocks experiencing sharp corrections ranging from 49% to 81%. The screen used focused on stocks with a market capitalization below Rs 1,000 crore, share price under Rs 20, and recent trading volume of at least 5 lakh shares. This highlights significant selling pressure in low-priced, relatively liquid penny stocks.
Investors holding shares in their demat accounts as of specified record dates
Investors holding shares in their demat accounts as of specified record dates will receive dividends from numerous companies this week. On September 7, Texmaco Infrastructure and Holdings pays Rs 0.15 per share; GeeCee Ventures, Rs 2 per share; and Transpek Industry, Rs 20 per share. Tuesday sees at least 11 companies paying dividends, including APL Apollo Tubes with Rs 8.5 per share. Wednesday features over 17 companies, led by Force Motors with Rs 50 per share. Thursday includes payouts like TVS Srichakra’s Rs 37.8 per share. Friday has more than 100 companies paying dividends, highlighted by Apar Industries at Rs 60 per share.
Top Flexi Cap Fund Surges 20.5%, Five Laggards Struggle Between -2.4% and 9.7%
ETWealth reported that the top five flexi cap funds achieved over 15% annualised returns in the last three years, with Bank of India Flexi Cap Fund leading at 20.5%, followed by Motilal Oswal, Invesco India, ITI, and ICICI Prudential Flexi Cap Funds ranging from 18.1% to 19.9%. Meanwhile, five laggards delivered returns between -2.4% and 9.7%, as of August 26, 2026.
Crypto Market Tumbles: Bitcoin Down 1.8%, Ethereum Down 2.3%
In the past 24 hours, Bitcoin was down 1.8% and Ethereum down 2.3%, trading at $2,452; major altcoins like BNB, XRP, Solana, Hyperliquid, Dogecoin, and Cardano fell by up to 5.4%, while Tron rose 0.9%. The global crypto market capitalisation dropped 1.4% to $2.77 trillion according to Coingecko. Over the week, Bitcoin and Ethereum were up 2.5% and 0.4%, respectively; major altcoins rallied by up to 4.9%, except Solana, Tron, and Dogecoin which corrected by up to 2.4%.
McGoldrick sells 21 lakh Tata Technologies shares valued at Rs 164.85 crore
Patrick McGoldrick, former CEO and MD of Tata Technologies, sold 21 lakh shares in four tranches on Friday, representing a 0.51% stake at Rs 785 per share, valued at Rs 164.85 crore. The buyers were ICICI Prudential MF, Kotak Mahindra MF, 360 One Asset Management, and Carnelian Asset Management & Advisors. Post-sale, McGoldrick's holding declined to 0.62%. Shares of Tata Technologies fell 0.59% that day.
Overseas investors remained net buyers in India's ten sectors from August 16
Overseas investors remained net buyers in India's ten sectors from August 16 to August 31, with Consumer Services attracting Rs 5,019 crore and Financial Services over Rs 4,000 crore. Healthcare saw Rs 3,021 crore inflows while Telecom faced continued FPI selling of Rs 4,983 crore and Power witnessed outflows of Rs 2,641 crore. SBI Securities linked Consumer Services' strong performance to changing spending patterns and leisure travel trends.
Gupta Unveils Altiva Equity Long Short Fund Targeting Consistent Alpha from Large-Cap Equities
Radhika Gupta, MD and CEO of Edelweiss Mutual Fund, announced the launch of Altiva Equity Long Short Fund on September 10, aiming to generate consistent alpha from large-cap equities through income-oriented derivatives. The fund will combine equity exposure with a derivatives overlay to enhance returns and limit drawdowns during market corrections. It targets investors seeking more consistent performance across market cycles compared to traditional strategies, with lower volatility. Minimum investment is Rs 10 lakh, except for existing Altiva SIF investors who can invest Rs 1,000.
ITC Split Suggested: Tobacco at 11X, Non-Tobacco at 30X Valuation
Kotak Securities analyzed ITC’s valuation, noting the tobacco business is priced at an implied 11X one-year forward P/E, suggesting market expectations of stagnant earnings or skepticism about near-term estimates. For non-tobacco businesses, Kotak uses a 30X multiple due to expected faster growth. The brokerage suggests splitting ITC into two entities could unlock value by appealing to different investor pools. This split aims to reflect the separate values of tobacco and non-tobacco segments more accurately.
Tata Motors CV Offers €3.82B to Acquire 100% of Iveco Shares
On September 5, Tata Motors CV and Iveco Group announced that TML CV Holdings B.V. commenced a tender offer to acquire 100% of Iveco’s common shares for approximately €3.82 billion, aiming to delist it from Euronext Milan. Funding includes a debt commitment letter with Morgan Stanley Bank, N.A., Morgan Stanley Senior Funding, Inc., and MUFG Bank, Ltd. Exor, the largest shareholder with 43.19% voting rights, supports the transaction. The tender offer opens on September 7, with shareholders voting in October. Tata Motors’ Managing Director Girish Wagh highlighted the strategic benefits of combining capabilities for global competitiveness and future technology investments. This follows a strong rise in August commercial vehicle sales by Tata Motors, up 49% year-on-year to 44,411 units.
GQG Partners' Bold Move Costs Adani Energy $569 Million
On Aug. 31, GQG Partners disrupted the market by selling unexpectedly large shares of Adani Energy during MSCI Inc.'s index rebalancing, contributing to a $569 million slump in the stock. This move, alongside hedge fund sales, exceeded anticipated demand from passive investors and led to a regulatory disclosure showing GQG’s stake dropped to 3.46%.
Karamtara Engineering IPO offers 59 shares starting at ₹14,986
Karamtara Engineering, incorporated in 1996, is offering an IPO with a lot size of 59 shares and a minimum application size of Rs 14,986. The issue comprises a fresh issue worth Rs 675 crore and an offer for sale of Rs 200 crore. JM Financial is the book-running lead manager. Karamtara manufactures products for renewable energy and transmission lines, with a global presence in over 50 countries. In FY26, it reported total income of Rs 4,316.36 crore and PAT of Rs 228.75 crore.
Motilal Oswal CEO Focuses on Digital, Defense, Renewables for High Earnings Growth
In a chat with ET Markets, Prateek Agrawal, managing director and CEO of Motilal Oswal Asset Management Company, discussed the fund house's strategy focusing on high-earnings-growth sectors like digital over physical, defense, and renewables. Motilal Oswal balances active and passive funds, aiming for alpha by identifying sustained growth areas while maintaining a concentrated portfolio of 20 to 35 names. The company expects better returns as markets follow earnings growth, with current themes including electrification and healthcare technology.
Sensex Gains 363 Points as Nifty Inches Below 23,898; Analyst Warns of Intensifying Corrections
On Friday, Sensex gained 363 points to close at 76,515 and Nifty 50 rose over 24 points to end below 23,898. Broader markets were mixed; Nifty Midcap 100 declined while Nifty Smallcap 100 increased. Analyst Sudeep Shah from SBI Securities discussed the outlook, noting that a sustained break below 23,700 on Nifty or 76,000 on Sensex could intensify corrections towards lower levels.
Precious metals power multi-asset funds, outperforming Nifty by 11.44% over one year
Multi-asset funds have outperformed the Nifty, delivering average returns of 11.44% and 14.45% over one and three years respectively, compared to a 1.26% decline and an 8.57% gain for the Nifty. These funds invest across equities, fixed income, precious metals, REITs, InvITs, and overseas equities. Strong returns from precious metals, particularly gold, which rose around 45% over a year and 150-160% over three years, contributed significantly to the outperformance. The Nifty REITs & InvITs index also returned about 13% over one year and 12.5% annually over three years. Quant Multi Asset Allocation Fund led with a 22.
Brother Confusion: Nithin Kamath Gets Daily Emails Meant for Nikhil
Nithin Kamath, founder and CEO of Zerodha, recalled in a post on X that he was once mistaken for Nikhil Kamath, co-founder of WTFund. Nithin noted receiving daily emails addressed to Nikhil since his brother gained prominence. He also shared how a press article 15 years ago boosted Zerodha’s account openings from a few hundred per month to nearly 500, convincing him he had found a growth hack. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own.
Gland Pharma Profits Soar 47% as Mutual Funds Boost Shares
As of June 30, 2026, Fosun Pharma held 51.77% in Gland Pharma but reduced its stake to around 45.77%. Kotak Mahindra Mutual Fund, Axis Mutual Fund, and ICICI Prudential Mutual Fund bought shares at an average price of Rs 2,826.6 per share, increasing their stakes by 1.69%, 0.82%, and 0.63% respectively. Meanwhile, Gland Pharma reported a 47% YoY increase in Q1FY27 net profit to Rs 317 crore.
Higher diesel prices are increasing transportation costs for businesses, leading to potential
Higher diesel prices are increasing transportation costs for businesses, leading to potential price hikes on goods like groceries and other consumer products. This could add to Republicans' political challenges ahead of November's midterm elections, with 67% disapproving of President Donald Trump’s economic management, according to AP-NORC polling. Diesel prices rose due to the U.S.-Iran war, impacting food supply chains and public transportation costs.
Cosmic PV Power’s Rs 640 crore IPO Draws Sebi Observations
Cosmic PV Power has received Sebi observations for its Rs 640 crore IPO, filed in March. The issue includes a fresh share issuance of up to Rs 540 crore and an offer for sale of up to Rs 100 crore by selling shareholders. Proceeds will fund a manufacturing facility in Narmadapuram and general corporate purposes. Cosmic PV Power manufactures solar photovoltaic modules, ranking among the fastest-growing makers with a revenue CAGR of 125.8% between FY23 and FY25. The company is also certified under the Ministry of New and Renewable Energy’s Approved List of Module Manufacturers List-I with an enlisted capacity of 1.30 GW as of September 30, 2025.
Banks rake in $136.4 billion as RBI scheme boosts dollar inflows
The RBI reported that special schemes like FCNR(B) have collected $136.4 billion, with the scheme launched in June to boost dollar inflows and strengthen foreign exchange reserves by allowing banks to swap overseas borrowings at concessional rates. Jefferies expects domestic credit growth to moderate from 18% to 15% by March 2027 but sees deposit growth rising to 17%. Banks' margins may fall temporarily, but earnings could increase by Rs10,000-11,000 crore annually. ICICI Bank mobilized $17.9 billion and SBI is expected to exceed its $10 billion target.
Festive season growth soars despite US-Iran conflict, inflation worries
Bajaj Broking highlighted the crucial juncture of this year’s festive season, noting increased input costs and inflationary worries due to US-Iran conflict. Despite these, consumer companies, retailers, automobile manufacturers, and e-commerce platforms are preparing for high single-digit to low double-digit growth, supported by urban resilience and premiumization trends. Urban demand remains strong with resilient employment conditions and easier financial terms boosting discretionary spending. E-commerce is expected to benefit significantly from increased online festive demand in smaller cities. However, concerns over monsoon performance and inflation could temper earnings expectations. Sunny Agrawal of SBI Securities recommends focusing on consumer-facing NBFCs, autos, and retail sectors for investment during the festive season.
U.S. Adds 162,000 Jobs in August, Unemployment Rate Stays at 4.1%
U.S. employers added 162,000 jobs in August, exceeding expectations, with the unemployment rate staying at 4.1%. The labor force participation rate rose to 61.6%, bolstering arguments for the Fed to raise rates at its September meeting. However, Trump criticized high interest rates and pressured the Fed via social media, adding uncertainty. Wage growth was 3.1%, consistent with inflation goals, but next week’s CPI and PPI reports will be crucial. Markets now see a 62% chance of a rate hike this month.
OnEMI shares surge 3.8% after JM Financial raises target to ₹387
JM Financial raised its target price for OnEMI Technology shares to Rs 387 from Rs 301, implying a potential upside of about 28%. Following the coverage, OnEMI’s stock rose by up to 3.8% on the NSE. JM Financial expects OnEMI's AUM and profits to grow at CAGRs of 44% and 49%, respectively, between FY26 and FY28, with improved borrower quality and lower borrowing costs.
Modi's Defence Boost: Budget Soars to ₹6.81 Trillion in FY26
Bajaj Broking reported India’s defence budget increased from Rs 2.53 trillion in FY14 to Rs 6.81 trillion in FY26, reflecting Prime Minister Narendra Modi's commitment to military modernisation. Defence production hit an all-time high of Rs 1.78 trillion in FY26 with exports surging to Rs 38,424 crore. The sector benefits from policy support and a robust order pipeline, positioning it for sustained growth across various platforms and technologies.
Ceigall India bags Rs 5,300 crore power project, shares surge 4%
Ceigall India secured a Rs 5,300 crore contract to develop a common transmission system for power evacuation from Lakadia, Jam Khambhaliya, and Jamnagar under a tariff-based agreement. The project includes constructing substations and transmission lines over 36 months, followed by a 35-year operational period with annual charges of Rs 608.67 crore. Following the announcement, Ceigall India’s share price rose nearly 4%, reflecting investor interest in the long-term visibility provided by the project.
Sebi Reviews Derivatives Pricing After Expiry-Day Swings, Market Gains
On Thursday, Sebi said it would review the methodology for determining settlement prices of derivative contracts following feedback from market participants after the rollout of the new Closing Auction Session (CAS). BSE shares rallied 5%, while Angel One and Groww saw significant gains. Sebi plans to issue a consultation paper in about a week addressing issues like lower trading volumes and heightened volatility under CAS, which prompted several market participants to scale back derivatives activity. The review aims to address expiry-day moves and sudden swings in the closing auction that impact option prices.
Motilal Oswal Sets Rs 200 Target for PhysicsWallah, Sees 66% Upside
Motilal Oswal set a target price of Rs 200 for PhysicsWallah, implying a 66% upside from its reference price of Rs 121. Despite recent declines, the brokerage highlighted PhysicsWallah’s efficient model and projected revenue growth from Rs 3,899.4 crore in FY26 to Rs 6,138.9 crore by FY28, with EBITDA margins expanding to 22.8%. The valuation is based on a sum-of-the-parts approach, considering online and offline businesses separately.
Sterlite Technologies approves Rs 3,000 crore expansion, aims 50% capacity boost
Sterlite Technologies, aiming to expand its optical transmission market and enhance connectivity solutions, approved a Rs 3,000 crore capital expenditure plan for capacity expansion by 50%. The company also plans annual investments of Rs 1,000 crore over three years for technological innovation. This move follows a strong Q1FY27 performance with revenue up 87% to Rs 1,910 crore and profit after tax rising 870% to Rs 197 crore. Board approved these plans on Thursday.
NSE Listing Near: IFCI Shares Soar 35%, Sebi Approval Looms
IFCI shares have rallied nearly 35% over the past month, driven by growing investor interest in NSE's anticipated public listing. IFCI, which owns more than 50% of SHCIL (holding over 4% of NSE), benefits from this trend. Sebi Chairman Tuhin Kanta Pandey said the regulator is close to approving NSE’s draft red herring prospectus, aiming for a valuation up to Rs 5.26 lakh crore. However, Dolat Capital Market initiated coverage on NSE with a bearish view due to regulatory risks and high valuation concerns. IFCI's strong rally has pushed its market capitalization to around Rs 25,970 crore, though technical indicators suggest it may face profit-taking pressure.
RBI faces high hedging costs, expects good returns on US treasury investments
Amid concerns over high costs for the RBI from hedging and liquidity management due to foreign currency inflows, experts expect good returns on US treasury investments. The 52-week US Treasury bill yield was 4.14% as of August 31, 2026. Estimated swap costs could reach Rs 36,000 crore, while robust flows may reduce intervention costs and create a buffer for future debt repayments. Policymakers believe the rupee may appreciate, offsetting potential losses. (Complete sentence.
NSE Set to Launch ₹31,000 Crore IPO, Second-Biggest in India After Jio Platforms
The National Stock Exchange of India (NSE) is set to launch an IPO that could raise up to ₹31,000 crore, making it the second-biggest in India after Jio Platforms. The NSE filed a draft red herring prospectus on June 18 and plans to sell 148.91 million shares. Sebi Chairman Tuhin Kanta Pandey indicated that approval is imminent. In July, the market regulator accepted the NSE's settlement application for regulatory lapses related to its colocation facility, requiring a payment of ₹1,491 crore. The case against former CEO Chitra Ramkrishna continues separately.
Indian Large-Cap Operating Margins Fall to 13-Quarter Low of 14.3%
According to an ET Intelligence Group analysis of 3,340 Indian companies excluding banks and finance firms, large-cap operating margins contracted by 280 basis points year-on-year in the June quarter to a 13-quarter low of 14.3%, while mid- and small-caps showed lesser contractions. Large caps posted modest net profit growth at 1.6%, the slowest in seven quarters, compared to double-digit growth for mid- and small-caps. Overall, India Inc.'s operating margins declined by 230 basis points year-on-year to 13.5%.
Jio Set for IPO Around Oct 11, Potentially Raising Rs 37,800 Crore
Jio, likely to launch its IPO around Navratri (Oct 11-20) or Diwali (Nov 8), received Sebi approval on August 28. The company plans a three-week international and two-week domestic roadshow before the sale, potentially raising Rs 37,800 crore. Jio Platforms will issue up to 270 million shares, with proceeds partly used for loan repayment at Reliance Jio Infocomm Ltd. Large investors like Meta, Google International, and others hold nearly 30.9% of the company.
Foreign investors pour ₹13,010 crore into Indian equities for fifth straight fortnight
Overseas investors extended their buying streak in Indian equities for a fifth consecutive fortnight, investing ₹13,010 crore from August 16-31. Consumer services, financials, and healthcare saw significant inflows of ₹5,019 crore, ₹3,959 crore, and ₹3,021 crore respectively. Capital goods also returned to favor after previous outflows. Oil, gas, and consumable fuels experienced the largest foreign investment outflows at ₹2,251 crore during this period. Mumbai: This trend reflects renewed interest in growth-oriented sectors following robust earnings projections.
CSE Shares Soar to 2,175 Rupees on Finance Minister’s Revival Plans
Shares of Calcutta Stock Exchange (CSE) surged from about 900 rupees in early June to around 2,175 rupees after Swapan Dasgupta, West Bengal's finance minister, signaled plans to revive the exchange. Interest increased further following CSE’s annual report outlining a broader strategy on Aug. 19. The rally comes as the National Stock Exchange of India prepares for its IPO and highlights opportunities in various financial markets. CSE had 1,507 listed companies but no active trading until recently. (Complete sentence.
Sensex Soars 300 Points, Reaching 76,900 Amid US Bond Yields Ease
On Thursday, the Sensex rose over 300 points to reach 76,900 and the Nifty 50 gained 83 points to start near 23,998. Broader markets also opened positively. The slight easing of US bond yields and $136 billion mobilisation under concessional swap facility boosted market sentiment, according to VK Vijayakumar, Chief Investment Strategist at Geojit Investments. Despite elevated US bond yields and high oil prices, FIIs are expected to continue buying in India due to improved growth prospects. The analyst noted that the recent decline was mainly driven by retail investors and proprietary traders, likely to reverse today.
INOXGFL Secures 100 MW Wind Order, 10 Years of O&M from Indian Oil
On Thursday, INOXGFL Group secured a 100 MW turnkey order from Indian Oil Corporation Limited, including 10 years of O&M services. The company will handle project execution and supply wind turbine generators for India’s largest oil marketing firm, reinforcing its position as a leading integrated wind energy solutions provider. Kailash Tarachandani, Group CEO of Renewables business at INOXGFL Group, highlighted the significance of this order in supporting customers' transition to cleaner energy sources.
Welspun Corp stock soars 5.79% after Jefferies raises target price to Rs 3,240
Jefferies raised Welspun Corp’s target price to Rs 3,240 from Rs 2,553.45, implying a potential upside of 27%. The stock surged 5.79% to Rs 2,669.70 on the NSE at 9:26 am. Jefferies cited strong demand for Welspun’s welded line-pipe in US and Saudi Arabia due to infrastructure spending growth. Revenue is forecast to nearly double by FY29, with EBITDA expected to rise from Rs 2,236 crore to Rs 5,138 crore. Key risks include slower order inflows and margin pressure.
HUDCO to fund Bihar’s industrial parks with 25-year flexible loans
On Wednesday, HUDCO signed a Memorandum of Understanding (MoU) with the Government of Bihar to provide financial assistance over five years for industrial infrastructure development, including land acquisition. The Infrastructure Development Authority, Bihar (IDA), will facilitate this by acquiring and developing lands needed for industrial parks across different districts. HUDCO will offer flexible funding terms, including a 25-year repayment schedule with prepayment options, using project-generated revenue or state budget allocations to repay the loans. This MoU follows another signed in July 2026 for urban infrastructure projects and remains valid for three years subject to annual review.
NSE IPO Set for Approval: SEBI Chairman Signals Green Light After ₹1,491.2 Crore Settlement
IFCI, owning over 50% of SHCIL, which holds more than 4% of NSE, benefits from indirect exposure to the exchange. SEBI Chairman Tuhin Kanta Pandey indicated approval for NSE's draft red herring prospectus (DRHP) soon. The IPO, entirely an offer-for-sale by existing shareholders including State Bank of India and others, aims to sell up to 148.9 million shares representing about 6% of the company at a potential valuation of Rs 5.26 lakh crore. NSE resolved regulatory issues with SEBI for Rs 1,491.2 crore, clearing its path to IPO. Revenue and net profit rose in FY26 but declined year-on-year due to tighter regulations on equity derivatives trading.
Lumino Industries Soars 34%, Adds Rs 136 Crore in Market Cap in Hours
The shares of Lumino Industries opened at Rs 110 on NSE, marking a 34% premium over the IPO price of Rs 82. The stock surged to Rs 114.48, adding Rs 136 crore to its market capitalisation in less than an hour. The company raised Rs 700 crore from its IPO and nearly Rs 207 crore from anchor investors. It plans to use the proceeds for debt repayment and capital expenditure. Retail, NII, and QIB subscriptions were over 40, 185, and 233 times respectively. Analysts view the stock positively but caution on high dependence on government clients.
MSCI to Remove Swiggy from Index Starting September 7, 2026
MSCI said it will remove Swiggy from its index starting September 7, 2026, following Swiggy’s move to become an Indian-owned and controlled company. Shareholders approved a foreign shareholding cap of 49.5%, leading NSDL to add Swiggy to the red flag list on September 1. Foreign investors must sell excess shares within five trading days if the FPI limit is breached, impacting passive funds tracking MSCI and limiting fresh FPI buying. Swiggy’s revenue rose 37% YoY in Q1 FY27 but reported a net loss of Rs 791 crore.
The Persistent Systems board approved borrowing up to $1,250 million through external
The Persistent Systems board approved borrowing up to $1,250 million through external commercial borrowings and non-convertible debentures, and may raise an additional $450 million via securities convertible into equity shares. This fundraise requires shareholder and regulatory approvals. At the end of June quarter, promoter entities held 30.29% stake while public shareholding was 69.04%. Q1 saw a 3.8% sequential rise in dollar revenue to $452.4 million, with bookings almost doubling to $1.15 billion due to a major deal.
Power Grid bags Rs 3,244 crore project, shares surge to Rs 270.75
In an exchange filing, Power Grid was declared the successful bidder for a tariff-based competitive bidding process to establish a transmission system with annual charges of Rs 3,244 crore. The project includes constructing ±800 kV HVDC lines and terminals in Rajasthan, Gujarat, and Maharashtra, along with installing SynCon units. Power Grid's shares rose to Rs 270.75 on NSE after the announcement, despite a recent drop of over 7% over the past month. Geojit Institutional Equities upgraded its rating on Power Grid to 'Buy', citing long-term strategic relevance and market potential.
Central bank fights rupee dip, state banks sell dollars aggressively
On Wednesday, the Indian rupee remained above 95 against the dollar for a second day, closing at 94.97 after central bank-led aggressive dollar sales by state-run banks to prevent depreciation past this mark. This stability contrasted with equity markets' volatility as the Nifty fell below 24,000.
Swiggy faces $350 million outflows as MSCI and FTSE remove it from indices
MSCI and FTSE will remove Swiggy from global indices starting September 7, leading to estimated passive outflows of over $350 million. This follows Swiggy's decision to cap foreign ownership at 49.5% to qualify as an Indian-owned company, approved by shareholders in August. Nuvama estimates initial MSCI-related outflows at about $330 million and FTSE-related outflows at around $25 million. Swiggy shares fell 2.7% on Wednesday.
Small finance banks' GNPA to drop 120 basis points by March 2027, predicts Crisil
Crisil Ratings predicts that small finance banks will see their asset quality improve, with gross non-performing assets (GNPA) dropping by 120 basis points to 2.6-2.8% by March 2027. This improvement is due to microfinance portfolio recovery and tighter underwriting standards, reducing GNPA from the microfinance book from 7.6% at the end of 2025-26.
Global government bond yields have risen 17 basis points over the past
Global government bond yields have risen 17 basis points over the past 20 days, compared to 62 basis points in late 2022. This year's peak-to-trough loss is 4.2%, far less than the 23% seen previously. Mike Goosay, CIO at Principal Asset Management, sees current volatility as improving long-term fixed income opportunities despite inflation and heavy government spending pressures. Higher yields offer better income for investors, with average coupons up to 2.68%. Recent economic data show mixed signals, but rising Japanese yields could further strain global markets.
Gold Soars, Multi-Asset Funds Swell Six-Fold to ₹2.2 Lakh Crore
Manuj Jain, co-founder of ValueMetrics Technologies, recommends multi-asset funds for retail investors due to their flexibility in investing across low-correlated assets like fixed income, gold, InvITs, and foreign equity. Domestic gold prices have risen 45% yearly and 150-160% over three years, while the Nifty REITs & InvITs index returned around 13% annually. Multi-asset funds' assets under management surged six-fold to ₹2.2 lakh crore by July 2026 from ₹36,097 crore in August 2023. Kunal Valia advises studying fund managers' track records for active rebalancing across asset classes.
Mumbai IPOs Soar: Hy-Tech Engineers Oversubscribed 244.41 Times
In August 2026, Mumbai saw a surge in IPO activity with ten out of twenty-three offerings oversubscribed by more than 100 times. Hy-Tech Engineers led the pack at 244.41 times oversubscribed, setting a new monthly record since 2006 and matching 2024's enthusiasm. This trend has made 2026 stand out, with fifteen IPOs exceeding 100 times subscription so far.
Berkshire Hathaway invests $10 billion in Alphabet, now third-largest holding
Able of Berkshire Hathaway highlighted significant opportunities in AI, leading the company to invest an additional $10 billion in Alphabet, now its third-largest stock holding. This move supports Alphabet's AI expansion and benefits Berkshire Hathaway Energy through increased electricity demand from data centers. Abel noted U.S. consumers face inflation pressures but sees potential growth in housing over five to ten years, with continued investment in Japanese companies for decades.
The U.S
The U.S. Mint began selling a new gold-colored $1 coin featuring former President Donald J. Trump on September 2, as part of the nation’s preparations for its 250th anniversary in 2026. The coin, which does not contain actual gold but is made primarily of copper with small amounts of zinc, manganese, and nickel, costs $61 for a roll of 25 coins or $154.50 for a bag of 100. It includes Trump’s likeness on the obverse designed by Chief Engraver Joseph Menna, and the Presidential Seal on the reverse with "250" added to commemorate the anniversary. The Mint is also randomly distributing 250,000 coins struck on July 4 with a special mark among those sold online. This release has attracted attention due to U.S.
Global bond yields rise to multi-decade highs in US, Japan, Australia
Global bond yields are rising, reaching multi-decade highs in the US, Japan, and Australia, impacting borrowing costs and economic growth. US 10-year Treasury notes hit a near three-year high of 4.81%, while Indian government bonds saw yields exceed seven percent for the first time in three months. Higher yields are driven by increased debt issuance from major economies and AI-related spending, with US federal debt surpassing $40 trillion. Rising oil prices and hawkish policies from US Federal Reserve and Reserve Bank of India exacerbate concerns, potentially leading to tighter monetary policy and outflows from emerging markets like India, where a weaker rupee and higher inflation are anticipated.
Quant Mutual Fund launches new funds, manages Rs 1 lakh crore
Quant Mutual Fund, in its August 2026 monthly factsheet, focused on under-valued stocks and sectors like IT Services, Energy, and Pharmaceuticals. It expects market consolidation to favor large-cap segments but sees alpha generation from micro-, small-, and mid-cap companies. The fund highlighted strong corporate earnings growth and India's favorable investment outlook, launching new funds including the Quant Income Plus Arbitrage Active Fund and Quant Silver ETF. As of August 2026, it managed Rs 1 lakh crore with over 36 funds.
Midcap Stocks Soar: Laurus Labs Rises 296% as Nifty Midcap 150 Gains 6%
The Indian equity market saw the Nifty 50 slip nearly 5% over two years, while the Nifty Midcap 150 gained around 6%. Despite this, 21 midcap stocks delivered more than 50% returns, with nine becoming multibaggers. Notable performers included Laurus Labs, up 296%, and National Aluminium Company, gaining 104%. This highlights significant opportunities within the midcap universe for investors.
Data centers drive $7 trillion investments, but delays up to 8 years stall growth
Energy-intensive data centres are driving demand for advanced equipment like transformers and cooling technologies, with McKinsey estimating $7 trillion in global investments by 2030. Nvidia predicts sustained AI-related spending. However, delays in securing power and grid connections, up to eight years in developed markets, challenge expansion. Leading manufacturers such as South Korea's HD Hyundai Electric and China's Hainan Jinpan Smart Technology report strong orders, with backlogs surging. New technologies like solid-state transformers aim to enhance efficiency. Despite robust demand, rising valuations and competition temper investor enthusiasm.
Coal India's Supplies Soar 5.5% to 60.60 Million Tonnes in August FY27
In August FY27, Coal India Limited's total coal supplies rose 5.5% to 60.60 million tonnes (MT) from 57.40 MT in the same month last year. Power sector supplies increased by 4.5%, while non-regulated sector supplies grew 9.6%. CIL's robust performance continued, with April-August FY27 supplies up 6.7% to 322.90 MT. Pithead inventories were reduced by 55 MT during the period, leaving around 76 MT available. Nuvama upgraded Coal India’s rating to ‘Hold’ from its earlier stance and raised its target price to Rs 454, citing expected volume recovery and lower coal imports.
Reliance Consumer Products launches Bombay Creamery ice cream brand in western India
On Monday, Reliance Consumer Products Limited (RCPL), the FMCG arm of Reliance Industries Limited (RIL), launched its new ice cream brand, Bombay Creamery, in western India. Backed by authentic dairy ingredients and affordable pricing, the brand aims to offer global quality products with a pan-India rollout planned soon. RCPL already operates in beverage and FMCG sectors through brands like Campa. Meanwhile, Vantara, led by Anant Ambani, launched its ice cream brand Vantara Creamery earlier this year.
Hero MotoCorp stock down 4.28% at Rs 5,318 on NSE
On the NSE at 9:48 am, Hero MotoCorp stock was trading at Rs 5,318, down 4.28% from its previous close of Rs 5,555. The company's motorcycle dispatches declined by 1.5%, but scooter volumes surged 42.8%. For August 2026, total dispatches rose 2.6%, with strong domestic and export growth. Q1FY27 saw a 36% revenue increase to Rs 12,999 crore. (Complete sentence.
Swiggy shares hit 5-month low, market cap drops to Rs 77,813 crore
On Wednesday, Swiggy shares fell to Rs 264.55, the lowest since late July, reducing its market cap to Rs 77,813 crore. Last month, shareholders approved proposals for an Indian-owned and controlled company status, capping foreign shareholding at 49.5%. The company entered NSDL's red flag list on September 1 due to low foreign ownership limits, potentially leading to $400 million in passive outflows from MSCI and FTSE indices. Jefferies forecasts a 'Buy' call with a target price of Rs 435 per share, implying a 58% upside potential.
BEML Secures Rs 180.60 Crore Vande Bharat Order, Third Win in a Month
On Wednesday, BEML secured an additional Rs 180.60 crore order from Integral Coach Factory for manufacturing and supply of Vande Bharat sleeper trainsets. This marks BEML’s third major order win in a month, following orders from Mauritius worth USD 6.65 million and HAL worth Rs 184.25 crore. These contracts highlight the company's growing presence in rail and metro segments internationally and domestically.
GRT Jewellers' \$1,464.81 crore bid sends TBZ stock soaring 16.11%
On Wednesday, TBZ stock advanced 16.11%, gaining Rs 58.70 to open at Rs 380, following a Tuesday rally after GRT Jewellers announced plans to acquire TBZ’s entire promoter holding for up to Rs 1,033.71 crore and make an open offer for the remaining shares valued up to Rs 431.10 crore. The acquisition is subject to regulatory approvals.
SoA vs Demat: Which Form Saves You Money on Mutual Fund Investments?
The article explains the difference between holding mutual funds in SoA and demat forms. In SoA, units are held with the asset management company (AMC) and records maintained by the registrar and transfer agent (RTA), avoiding demat-related costs. In demat, units are stored in a depository like NSDL or CDSL, alongside other securities, but incur additional charges and require routing through depositories for transactions. Investors can switch between SoA and demat forms as needed. SoA is simpler for mutual fund-only investors, while demat suits those with diverse investments.
Nifty MidCap 150 Soars 20%, But 15 Stocks Drive 50% Gains, Experts Warn
The Nifty MidCap 150 has risen nearly 3821 points (20%) since April, with 15 stocks contributing over 50% of the gains. These include Coforge and Vodafone Idea among others. Saurabh Jain from SMC Global Securities noted this rally is selective rather than broad-based. The remaining 109 gainers added nearly 2,216 points while 26 stocks dragged it down by around 318 points. Kranthi Bathini of WealthMills Securities warned that concentrated gains could make the market vulnerable to shocks or earnings misses. (Complete sentence.
Milky Mist Reports 153% Yogurt Revenue Boom, Eyes Expansion Beyond South India
Milky Mist reported significant revenue growth in yogurt (153%) and ice cream (60%), with cheese up 38% and paneer growing 34%. The Perundurai facility has spare capacity to support future revenue increases. Geographic expansion, especially in Karnataka and Maharashtra, alongside improved distribution and cold-chain infrastructure, drives growth. Despite milk inflation risks, the company leverages a diversified product portfolio for pricing power. Expect margins to benefit from better utilization and operational efficiencies. Overall, focus shifts to scaling protein products and expanding beyond South India while maintaining profitability.
Reliance Industries Weight Falls to 7.8% in Nifty, Widest Gap with ICICI Since 2015
As of August 31, HDFC Bank had a weight of 9.85% in the Nifty, while ICICI Bank was at 9.45%, and Reliance Industries was at 7.8%. The gap between ICICI Bank and Reliance is the widest since April 2015. Reliance's weight fell from 8.9% by December due to a 17% share decline this year, marking a shift in Nifty's composition despite remaining the largest company with ₹17.7 lakh crore market cap.
IRDAI proposes PIR to share insurance data, boost claim settlement efficiency
Today, the IRDAI proposed a federated data architecture called PIR in a consultation paper. PIR would allow institutions to share standardized insurance product details, policyholder information, grievance records, and regulatory data while enabling customers to view policies across insurers and access intermediary quality metrics. For insurers, it could provide anonymized industry-wide claims data and set up alerts on unusual loss spikes. Additionally, PIR may establish an Insurance Risk Score using consent-based external data for underwriting support. It aims to improve claim settlement efficiency in motor and life insurance by providing cross-insurer policy information and connecting with registries for asset recovery signals.
Indian Banks Slash Rates Up to 310 Basis Points on Foreign Deposits
State Bank of India (SBI), HDFC Bank, and ICICI Bank sharply reduced interest rates on long-tenure foreign currency non-resident deposits starting September 1, cutting rates by up to 310 basis points after the Reserve Bank of India (RBI) advanced the closure of the FCNR(B) window to August 31. Banks had previously raised rates due to an RBI-supported swap facility but are now unwinding these high returns as the special economics disappear. Indian banks collectively mobilized $65.4 billion through FCNR(B) deposits by August 21, prompting the early closure of the window.
Ujjivan CEO steps down early, shares plunge 5.4%
On Tuesday, Ujjivan board accepted Nautiyal's early retirement request due to health issues and appointed executive director Carol Furtado as interim head pending regulator approval. Nautiyal ceased being MD & CEO on September 1, with a three-month notice period ending November 30. The bank's share price dropped 5.4% in reaction. Ujjivan aims for better succession planning amid efforts to diversify its business and reduce reliance on unsecured microfinance loans.
Petrol and diesel sales surge 6.5%, signaling economic boost and monsoon impact
Strong vehicle sales this fiscal year contributed to a 6.5% growth in petrol and an unusually high 6.5% growth in diesel sales in August, driven by economic expansion and uneven monsoon affecting farmers' irrigation practices. ATF sales rose 1.4%, indicating recovering air traffic, while LPG sales fell 16.1% due to a shift towards piped natural gas.
Court orders forensic audit of Fortis transactions, threatening to reverse all deals
In a 213-page judgment, Justice Subramonium Prasad ordered a forensic audit of Fortis' transactions from the Singh brothers' control to when IHH took over. The court can grant remedies against violators and reverse all transactions if necessary. Senior advocate Arvind Nigam and advocate Giriraj Subramanium represented Daiichi Sankyo, while Fortis, now under new management, cannot claim ignorance of past wrongdoings.
NSE Derivatives Volumes Plunge to Lowest Since November 2023 Amid CAS Implementation
Rajesh Palviya, head of research at Axis Securities, attributed the decline in derivatives volumes to CAS (Circuit Filter and Settlement), implemented from August this year. NSE's total monthly equity derivative turnover last month was ₹34.48 lakh crore, its lowest since November 2023, while BSE's stood at ₹32.2 crore, the lowest since June 2025. CAS operates as a separate session from 3.15 pm to 3.35 pm for determining official closing prices, leading brokers and traders to close positions early to avoid volatility. This shift has reduced speculative activity and options volumes, with lower market volatility also contributing. Despite opposition from many traders and calls for rollback by Sebi, chairman Tuhin Kanta Pandey confirmed the mechanism will remain unchanged.
S&P Global Considers Spinning Off CapIQ, Shares Jump 6.3%
According to Bloomberg, S&P Global is considering separating its Capital IQ Pro business, potentially valuing it in the high single-digit billions. Investors welcomed this possibility, with S&P Global shares rising 6.3%. Known as CapIQ, the platform provides financial data for over 60 million private companies and could compete more directly with FactSet Research Systems if spun out. CEO Martina Cheung aims to reshape S&P Global through such strategic moves. However, discussions are still at an early stage, and a separation is not guaranteed.
ITC Infotech to acquire 22.1% stake in Happiest Minds for Rs 1,330 crore
In a stock exchange filing, ITC Infotech will first acquire a 22.1% stake in Happiest Minds from founder Ashok Soota for Rs 1,330 crore, split into two tranches. This is followed by a share swap where shareholders receive 25 ITC Infotech shares for every 81 Happiest Minds shares held. Post-merger, ITC Infotech will be listed through a backdoor listing, with ITC Ltd holding a 73.4% stake in the combined entity valued at over Rs 18,000 crore. The merged company aims to become India's 11th-largest IT services firm with Rs 7,033 crore annual revenue by fiscal 2026.
Bajaj Auto Shares Soar 20% as August Sales Jump 28% to 5,35,764 Units
Bajaj Auto's stock surged after reporting a 28% year-on-year increase in August sales to 5,35,764 units. Two-wheeler sales rose 30%, with exports surging 53%. Commercial vehicle sales also grew by 22%. The company’s strong performance in the April-August period saw a 29% rise year-on-year. Bajaj Auto shares gained around 20% over three months, reaching Rs 12,470 and indicating sustained demand globally.
PM Modi urges avoiding gold purchases, shares of Titan Company and Kalyan Jewellers plummet
In today’s session, shares of Titan Company, Kalyan Jewellers, Thangamayil Jewellery, and Sky Gold declined significantly on the BSE following PM Modi's appeal to avoid gold purchases for a year. This is part of his wider effort to conserve fuel and foreign exchange reserves amid rising crude oil prices and rupee pressure. India imports an average of 60 tonnes of gold monthly, costing nearly $6 billion. Experts like Christopher Wood and John Paulson see this as an opportunity to accumulate gold due to its potential long-term bull run.
11 Nifty500 Stocks Below 200 DMA Signal Potential Weakness
On August 31, stockedge.com's technical scan data showed that 11 stocks in the Nifty500 closed below their 200 DMA, a negative signal indicating prices are under long-term trend lines. Traders view this as an important indicator of overall stock trends. This development suggests potential weakness in these stocks.
Milky Mist stock soars 61% after Q1 profit jumps tenfold to Rs 65 crore
On Tuesday, Milky Mist’s stock opened at Rs 230.79, up nearly 9.4% from its previous close of Rs 210.94, following the company’s first quarterly earnings announcement since listing on August 18. Q1 profit after tax rose to Rs 65 crore, a tenfold increase from Rs 6.53 crore last year, with revenue growing 43.6% to Rs 973.45 crore. The stock gained about 61% from its issue price of Rs 140 and 37% from its debut price of Rs 165. Milky Mist’s growth was driven by higher volumes, improved product mix, and better pricing ability across categories like paneer, cheese, curd, yoghurt, and ice cream. The company’s revenue grew at a compound annual rate of 31.
Canara Bank recovers ₹510 crore from Rajesh Exports after SEBI allegations
Canara Bank recovered all dues totaling ₹510 crore from Rajesh Exports following a debt recovery tribunal order. The bank initiated this after the company blocked other recovery attempts and faced allegations of financial misrepresentation from SEBI. Canara was Rajesh Exports' largest creditor, with the account turning non-performing in 2020.
Banks face new RBI rules: Must verify overseas transactions or risk ED scrutiny
As of October 1, banks will face new responsibilities under RBI rules, requiring them to use discretion in clearing payments and verifying overseas transactions. Without a caution list, banks must now assess the genuineness of service contracts and certify export proceeds, raising concerns over regulatory arbitrage and potential enforcement scrutiny by the Enforcement Directorate (ED). Banks are advised to establish systems for tracking services and ensuring consistency with tax declarations. These changes aim to shift responsibilities from RBI but may pose challenges in implementation.
US Treasury Yield Hits High, Pushing Japanese Bond Rate to 30-Year Peak
Government bonds in Japan, Australia, and New Zealand fell after the US 10-year Treasury yield rose to 4.77%, its highest since January 2025. The Japanese bond yield reached a three-decade high at 2.965%. Brent crude surpassed $91 a barrel due to renewed Middle East tensions involving US and Iran, impacting shipping through the Strait of Hormuz. Money markets increased bets on a September interest-rate hike following comments by Federal Reserve Chair Kevin Warsh, focusing attention on upcoming employment data. “Unexpectedly strong labor-market data might reinforce expectations for a rate hike,” noted Chris Larkin at ETrade from Morgan Stanley.
Sebi Approvals Extended: 25 Companies Aim for ₹20-25,000 Crore IPO Surge in September
India's primary market expects a strong September with IPOs worth ₹20-25,000 crore from nearly 25 companies before Sebi approvals lapse. This surge follows an improved issuer sentiment post a cautious first half and aims to capitalize on better market conditions and recent successful listings. Sebi extended approval deadlines until September 30 to prevent volatility exposure during share sales.
FPIs Pour $4.9 Billion into India's IPOs Despite $28.9 Billion Market Outflow
In the first eight months of 2026, Foreign Portfolio Investors (FPIs) invested $4.9 billion in India's IPOs, a rise from $4.7 billion in the same period last year, despite a $28.9 billion outflow from the secondary market. FPI inflows into primary markets surged since July, coinciding with increased domestic fundraising and major IPOs like SBI Funds Management and Manipal Health Enterprises. This contrasts with global uncertainties affecting Asian markets.
Nifty set to stay range-bound as mid and small caps surge ahead
Analysts expect limited upside for the Nifty this September, with mid- and small-cap stocks likely to outperform due to historical trends. The Nifty Midcap 100 and Smallcap 250 advanced in seven of the past ten Septembers, while heavyweight sectors showed weakness. Foreign investors resumed selling after a pause, and domestic fund flows favored smaller stocks. Market action is expected to remain stock-specific without fresh triggers, with the Nifty likely to stay range-bound between 23,800 and 24,600.
Epsilon Bidco, the largest shareholder in EPL with 26.38% stake
Epsilon Bidco, the largest shareholder in EPL with 26.38% stake, is selling 8.45 crore shares at Rs 235 each through a block deal, fetching approximately Rs 1,985 crore. EPL recently reported strong Q1FY27 operating performance with 25.3% top-line growth and 15.2% EBITDA rise, despite global volatility. The proposed sale comes less than a month after these results.
The selloff spread across the Treasury curve, with five-year yields
The selloff spread across the Treasury curve, with five-year yields reaching their highest since early 2025 and 30-year yields moving above last week’s highs. Oil prices gained over 2% after President Donald Trump threatened additional attacks on Iran. Short-term Treasury yields surged following Fed Chairman Kevin Warsh's signal of potential interest-rate increases at the Jackson Hole symposium. The 30-year yield rose to nearly 5.26%, and options traders positioned for further losses, with some buying put options implying a climb to around 5.7%. Longer-term yields were also pressured by expectations of heavy supply in the corporate bond market this September.
SEC ponders scrapping rule, sparking fears of shareholder confusion
In a regulatory notice dated Friday, the SEC said it would consider changes to Rule 14a-8, which sets requirements for shareholder proposals in public companies' annual proxy statements. SEC Chairman Paul Atkins highlighted concerns that the rule exceeds the Commission's authority and infringes on state laws, suggesting its rescission. Investor resolutions focused on topics like carbon emissions have faced declining support recently. Tim Smith from the Interfaith Center on Corporate Responsibility warned that rescinding the rule could create confusion due to varying state regulations, such as Texas requiring $1 million in shares compared to the SEC's current $2,000 requirement. Broc Romanek of Cooley law firm predicted more votes against corporate board members if other avenues for shareholder expression are restricted. The SEC also plans to "modernize" the proxy solicitation process to reflect technological advancements and current realities of shareholder communications.
JPMorgan shifts cautious: 70% chance of rate hike looms as AI rally wavers
Andrew Tyler, head of US market intelligence, and his team at JPMorgan shifted to a tactically cautious view ahead of the Fed’s Sept. 16 policy decision due to uncertainty over interest rates. The US 10-year Treasury yield rose above 4.75%, with swaps implying nearly a 70% chance of a quarter-point rate hike next month. Tyler cited rate uncertainty, seasonal weakness, and potential AI stock unwinds as near-term risks but noted strong equity fundamentals overall. September is historically weak for US stocks, adding to concerns over inflation and the sustainability of the AI rally. The August jobs report and Sept. 11 consumer-price data will be crucial for the Fed’s decision. Tyler said a recession is unlikely in the next few quarters but emphasized that the meeting is “live” given recent inflation worries.
Stocks Fall as Oil Prices and Treasury Yields Rise
On Friday, S&P 500, Nasdaq Composite, and Dow Jones all fell due to spiking oil prices, higher Treasury yields, and Kevin Warsh's hawkish speech. The S&P 500 lost 27.39 points (0.36%), the Nasdaq dropped 41.51 points (0.16%), and the Dow declined 380.22 points (0.71%). Despite monthly gains, Peter Tuz and Paul Nolte noted concerns over potential rate hikes amid Iran-U.S. tensions and inflation fears. Energy stocks rose while utilities lagged; GameStop shares increased after announcing a debt exchange plan.
HFCL Soars 243%, Leading Retail Gains Up to Rs 2 Lakh
Ace Equity data shows HFCL topped with a one-year gain of 243%, followed by Ather Energy at 242%. Other top performers included Aditya Infotech (182%), Welspun Corp (175%), and RR Kabel (137%). These gains were tracked using individual shareholders holding up to Rs 2 lakh as of June 2026, reflecting retail ownership trends. The rally benefited from investor interest in high-beta names across sectors like commodities, infrastructure, and technology.
India's Market Shifts to Smaller Stocks Amid Tariff Issues, FII Outflows
At the Motilal Oswal Financial Services 22nd Annual Global Investor Conference, Rajgarhia noted India's market is shifting from large caps to smaller companies showing stronger growth. He highlighted challenges like tariff issues and FII outflows but emphasized earnings recovery and foreign investor interest in mid- and small-cap stocks. The conference theme was "From Challenges to Compounding Opportunities."
Out of 17 IPOs listed in August, 88% provided positive listing-day returns
Out of 17 IPOs listed in August, 88% provided positive listing-day returns and continued to trade above issue price. Notable performers include Tempsens Instruments, which doubled investor money on debut, and Dhoot Transmission, up 72%. Only two issues, Shankesh Jewellers and Horizon Industrial Parks, traded below their issue prices. September is expected to see over 20 companies raising potentially Rs 70,000 crore through IPOs, with Jio Platforms aiming for a Rs 37,700-crore issue.
On August 27, SEBI chairman Tuhin Kanta Pandey said the regulator
On August 27, SEBI chairman Tuhin Kanta Pandey said the regulator was nearing approval of NSE's draft red herring prospectus (DRHP) filed in June for an IPO comprising only an offer for sale. The timeline was extended by three weeks due to changes in selling shareholders, including adding SBI Capital Markets. At Rs 5.26 lakh crore valuation, NSE would rank sixth globally. Unlisted shares trade around Rs 1,970. With the IPO expected in September, investors assess whether to buy unlisted or wait for the public offering.
With Jagdishan set to retire at the end of October, focus shifts
With Jagdishan set to retire at the end of October, focus shifts to his successor and HDFC Bank's future. Key concerns include deposit mobilisation, margin restoration, and balance sheet management post-merger with HDFC Ltd. Analysts from Nuvama Institutional Equities see Jagdishan’s resignation as a cleaner outcome amid recent operational issues. Deputy Managing Director Mr Bharucha could be a short-term candidate while the board identifies a successor. Nuvama expects stock weakness until clarity emerges, cutting target price to ₹875 and retaining 'BUY' rating.
Hindustan Zinc shares plunge 5% as US Fed hints at more rate hikes
On Friday, Hindustan Zinc, Vedanta, and other metal stocks fell sharply after US Federal Reserve Chair Kevin Warsh signaled potential further interest rate hikes. Aluminium, copper, and zinc prices declined as higher rates outweighed supply concerns. Hindustan Zinc's shares dropped 5%, Vedanta and NALCO each fell nearly 4%. Jefferies raised target prices for Hindustan Zinc to Rs 750 but maintained a 'Hold' on Hindalco, preferring Hindustan Zinc due to better zinc and silver prospects.
Leela Hotels Soars 2.72% After Jefferies Predicts 20% CAGR Revenue Growth
Jefferies initiated coverage of Leela Hotels, viewing it as a play on India’s premiumisation trend, supported by growing demand for luxury and experiential travel. On August 31, Leela's shares gained 2.72% to Rs 570.35 after the report, with Jefferies forecasting revenue growth at a 20% CAGR from FY26 to FY29 and projecting strong EBITDA increases. The brokerage expects owned-property RevPAR growth of 9-10%, driven by Brookfield's support for expansion into leisure destinations like Dubai and Mumbai’s BKC, while noting key risks include delays in hotel openings and economic slowdowns.
Analysts at Nomura expect CleanMax to achieve revenue and EBITDA CAGRs
Analysts at Nomura expect CleanMax to achieve revenue and EBITDA CAGRs of 39% and 50%, respectively, over FY26-29F. India's tariff structure drives the commercial and industrial renewable energy opportunity, allowing CleanMax to offer power below grid tariffs, saving customers 20-60%. In Q1 FY27, CleanMax reported a net profit of Rs 55 crore, up from a loss of Rs 17 crore in Q1 FY26, with revenue more than doubling to Rs 832 crore. Total contracted capacity reached 6.8 GW as of June 30, 2026.
Tempsens Instruments stock plunges 1.77%, recovers to trade 92% above IPO price
On Monday, Tempsens Instruments stock opened at Rs 579 and fell to Rs 562.55 before recovering to Rs 576.25, down 1.77% by 10:01 am. Despite this decline, the company's shares traded about 92% above its IPO price of Rs 300 after a strong debut on Friday at Rs 634, reflecting robust demand for its Rs 650-crore public issue which was subscribed 184 times. Tempsens Instruments manufactures thermal-engineering products and specialized cables, planning to use net proceeds from the IPO for expansion and debt repayment. Analysts advise investors to consider booking profits if they invested solely for listing gains but recommend holding for long-term prospects or entering on dips.
