STRAIT OF HORMUZ SHIPPING GRINDS TO A HALT AHEAD OF U.S.-IRAN CEASEFIRE EXPIRY

APOLLO MICRO:

Company has been awarded orders worth INR 80.83 cr by Defence PSUs, State Governments and Private Industries.

APOLLO MICRO SYSTEMS: ₹80.84 CR ORDER WINS 🚀

• Apollo Micro Systems secures orders worth ₹808.38 Mn (~₹80.84 Cr)

• Orders received from Defence PSUs, State Governments and Private Industries

• Order wins are part of the company’s ordinary course of business

IRANIAN FOREIGN MINISTRY:

NO TALKS HAVE BEGUN DUE TO WASHINGTON'S VIOLATION OF THE MEMORANDUM OF UNDERSTANDING

ICICI SECURITIES — BROKERAGE VIEW 📊

• Brigade Enterprises — BUY | Target ₹885

• GMR Airports — HOLD | Target ₹99 ↑ from ₹93

• Honasa Consumer — BUY | Target ₹720 ↑ from ₹600

• VA Tech Wabag — BUY | Target ₹2,410 ↑ from ₹1,680

• Max Healthcare — BUY | Target ₹1,275 ↑ from ₹1,215

• Page Industries — REDUCE | Target ₹31,500

• Indiqube Spaces — BUY | Target ₹263 | Upside ~42%

Key highlights: Positive stance on Brigade, Honasa, VA Tech Wabag, Max Healthcare & Indiqube; cautious on GMR Airports and Page Industries.

ASTRAZENECA STOPS CANCER DRUG TRIAL AS SUCCESS SEEN UNLIKELY - BBG

ANUPAM RASAYAN; CO UPGRADED FY27 REVENUE GROWTH GUIDANCE TO 30 % + FROM 20-25 % EARLIER 🟢🟢

LUPIN GETS USFDA FINAL APPROVAL FOR PITOLISANT TABLETS

🇺🇸 Lupin receives final approval from the USFDA for Pitolisant Tablets in 4.45 mg and 17.8 mg strengths.

💊 The tablets are approved as bioequivalent to Wakix® for the indications covered under the approved labeling.

📋 Approval has been granted for Lupin’s Abbreviated New Drug Application (ANDA).

🎯 The approval allows Lupin to participate in the US market for the Pitolisant generic opportunity.

📈 Adds another approved product to Lupin’s US portfolio and strengthens its presence in complex/specialty generics.

🟢 Impact: Positive — USFDA approval expands Lupin’s US product portfolio and creates a new commercial opportunity.

ANAND RATHI ON SUDARSHAN CHEMICAL

BUY | Target: ₹1,450 (Earlier ₹1,350)

Strong Q1 FY27 — Revenue ₹2,640 Cr, +5.4% YoY; adjusted EBITDA at ₹260 Cr.

Heubach margin recovery drives performance; EBITDA at ₹146 Cr with 7.4% margin.

FY27 guidance maintained at ₹9,800–10,200 Cr revenue & ₹800 Cr EBITDA.

FY29 target: ₹12,000–14,000 Cr revenue & ₹1,400–1,500 Cr EBITDA, with net-cash ambition.

Net debt reduced sharply to ₹530 Cr.

Raises FY27E/FY28E EBITDA estimates by 7.5%/2.3% on stronger integration benefits.

Further upside expected from procurement, manufacturing, SAP & SG&A synergies.

Target raised to ₹1,450 from ₹1,350, based on 11.2x FY28E EV/EBITDA.

ICICI SECURITIES ON INDIQUBE SPACES

BUY | Target: ₹263 | CMP: ₹185 | Upside: ~42%

Q1 FY27 strong — mature centre occupancy improved 200 bps QoQ to 90%.

Revenue rose 5% QoQ to ₹420 Cr; IGAAP EBITDA up 10% QoQ to ₹80 Cr.

EBITDA margin expanded 81 bps QoQ to 17.7%.

Management expects 1.5–2.0 msf of new operational area during FY27.

ICICI Sec expects 26% revenue CAGR & 31% EBITDA CAGR over FY26–28E.

EBITDA margin seen improving to 18.7% by FY28E, aided by lower rentals and solar power savings.

Operational portfolio projected to expand from 7.8 msf to 11.3 msf by FY28E.

Valuation at 15x Sep’27E EV/EBITDA; key risks are office-leasing slowdown and pricing pressure.

BSE CLEARING LAUNCHES 3-DAY SECURITIES LENDING & BORROWING CONTRACTS

📊 BSE Clearing introduces 3-working-day contracts in the Securities Lending & Borrowing (SLB) segment, effective August 17, 2026.

⏱️ Contracts will have a T+1 first leg and T+3 reverse leg, excluding settlement holidays.

📈 Initially, the shorter-tenor contracts will be available for F&O securities under the “D” series.

🔄 Shorter tenure provides greater flexibility for short-term securities borrowing and delivery requirements.

⚡ The facility could also support inter-exchange arbitrage and better price alignment across trading venues.

🎯 BSE Clearing expects the initiative to improve market efficiency and deepen participation in the SLB ecosystem.

🟢 Impact: Positive — shorter-tenor SLB contracts could boost flexibility, trading activity and participation on BSE’s securities lending platform.

MUFIN Green Says Employee Base Stands At 350 Now|Diversifying Into Digital Products
Every Integration Takes Almost 6-9 Months

MUFIN GREEN says In Process To Onboard More Banks |Onboarded 3 Public Sector Banks

INDO AMINES LTD:

TEMPORARY SUSPENSION OF OPERATIONS AT MAHAD FACILITY DUE TO GAS LEAKAGE INCIDENT;

ONE EMPLOYEE FATALITY REPORTED;

COMPANY COOPERATING WITH AUTHORITIES FOR INVESTIGATION AND SAFETY MEASURES.

THYROCARE — PROMOTER PLEDGE FULLY RELEASED 🔓

• Docon Technologies released pledge on 7.95 Cr Thyrocare shares

• Follows full repayment of ₹1,050 Cr NCDs by API Holdings

• Entire promoter shareholding is now pledge-free

• No outstanding pledge or encumbrance remains on promoter shares

• Positive development, reducing promoter pledge-related risk

PRABHUDAS LILLADHER ON AMBER ENTERPRISES 📊

• BUY | Target ₹9,244 ↑ from ₹8,646

• Q1 FY27 Revenue ₹3,890 Cr, +12.7% YoY | EBITDA ₹310 Cr, +21.6%

• EBITDA margin improved to 8% | Adjusted PAT ₹140 Cr, +39.5%

• Electronics revenue grew 28.5%; Railways order book at ₹2,750 Cr

• FY27 growth guidance maintained; Oppo commercial production expected from Q1 FY28

• BUY maintained with higher target of ₹9,244

CAMPUS ACTIVEWEAR: BOARD APPOINTS MR. RAKESH THAKUR AS CHIEF FINANCIAL OFFICER ; THAKUR BRINGS OVER 22 YEARS OF EXPERIENCE FROM LEADING CO'S INCLUDING BOAT AND HINDUSTAN UNILEVER. GSK HEALTH, PEPSICO & SAMSUNG.

IND SWIFT LAB: CO'S TOPLINE CAGR 20-25%, SCALING FROM ₹636 CR TO ₹1,200+ CR BY FY29.

IND SWIFT LAB: CDMO PARTNERSHIPS/ OWN BRANDS WITH VIATRIS (IRELAND, EUROPE), MANX (UK), AND ARROTEX (AUSTRALIA) HAVE BEEN COMMERCIALIZED AND ARE EXPECTED TO CONTRIBUTE INCREMENTAL REVENUE OF ₹200–220 CR IN FY27

INDIGO , SPICEJET; Draft Rules Cover Airfares, Surge Pricing And Excess Baggage Charges

INDIGO , SPICEJET: SC Says Govt Should Ground Airlines That Fail To Comply