U.S. TREASURY SECRETARY BESSENT SAYS 'NO ONE IS ABOVE THE REACH OF U.S. SANCTIONS' AND THAT U.S. EFFORTS 'WON'T END UNTIL THE IRANIAN REGIME STANDS ALONE'.
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U.S. TREASURY SECRETARY BESSENT SAYS EVERY NATION SHOULD BE READY TO FACE U.S. SANCTIONS IF BACKING IRAN AND THAT NO ONE, INCLUDING CHINA, IS EXEMPT, WARNING THAT IF CHINA FACILITATES TRANSACTIONS IT IS TO BE TARGETED.
U.S. TREASURY SECRETARY BESSENT SAYS HE WON'T SET EXACT TIMELINES FOR REDUCING IRAN TIES AS 'PATIENCE ISN'T UNLIMITED', WARNING OF RAMIFICATIONS IF OTHER NATIONS DON'T RESPOND QUICKLY.
U.S. TREASURY SECRETARY BESSENT SAYS HE WON'T SET EXACT TIMELINES FOR REDUCING IRAN TIES AS 'PATIENCE ISN'T UNLIMITED', WARNING OF RAMIFICATIONS IF OTHER NATIONS DON'T RESPOND QUICKLY.
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U.S. TREASURY SECRETARY BESSENT SAYS THE U.S. IS ALREADY SEEING SOME RESULTS ON THE IRAN PUSH — WITH THE UAE'S RECENT IRAN MOVES 'NOT A COINCIDENCE BUT CAUSAL' — AND THAT TRYING TO BUY IRAN'S APPEASEMENT 'WILL NO LONGER WORK', WARNING 'YOU WILL SEE A WAVE OF SANCTIONS AFTER THIS' AND THAT HE EXPECTS A MAJOR FINANCIAL INSTITUTION TO BE SANCTIONED THIS WEEK.
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U.S. TREASURY SECRETARY BESSENT SAYS ON CANADA THAT TRUMP WOULD LIKE IT TO 'COME TO THE TABLE AND NEGOTIATE IN GOOD FAITH'.
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U.S. TREASURY SECRETARY BESSENT SAYS ON THE IRAN INITIATIVE THAT 'A WARNING SHOT IS APPROPRIATE', HAVING GIVEN EVERYONE AN OPPORTUNITY TO REMEDY BAD BEHAVIOR, AND THAT NATIONS SHOULD BE SET TO LEAVE THE DOLLAR SYSTEM IF THERE IS NO COOPERATION.
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U.S. TREASURY SECRETARY BESSENT SAYS ON THE BUYBACK PROGRAM THAT 'WE HAVEN'T BOUGHT A SINGLE BOND YET', WITH THE NEXT OPERATION ON SEPT. 9.
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Oil & Gas Stocks-Ancillaries (+ve)
Union Minister Hardeep Puri reviews energy sector roadmap with MoPNG officials, PSU heads
-- Progress reviewed on ‘Samudra Manthan’ National Offshore Exploration Scheme
Alert: Cabinet cleared ₹84,084 crore outlay through FY 2030-31 to unlock India’s offshore energy potential
-- Year-wise roadmap being finalized for faster drilling, seismic surveys & rig deployment
-- KG, Mahanadi, Andaman & Cauvery basins to see accelerated exploration by ONGC, Oil India
-- ONGC-led JV to boost drillship capacity, address critical infrastructure bottlenecks
-- Duliajan Feeder Line & National Gas Grid link to unlock stranded Northeast gas reserves
-- Feedstock mapping & cooperative clusters to strengthen CBG aggregation and market access
Union Minister Hardeep Puri reviews energy sector roadmap with MoPNG officials, PSU heads
-- Progress reviewed on ‘Samudra Manthan’ National Offshore Exploration Scheme
Alert: Cabinet cleared ₹84,084 crore outlay through FY 2030-31 to unlock India’s offshore energy potential
-- Year-wise roadmap being finalized for faster drilling, seismic surveys & rig deployment
-- KG, Mahanadi, Andaman & Cauvery basins to see accelerated exploration by ONGC, Oil India
-- ONGC-led JV to boost drillship capacity, address critical infrastructure bottlenecks
-- Duliajan Feeder Line & National Gas Grid link to unlock stranded Northeast gas reserves
-- Feedstock mapping & cooperative clusters to strengthen CBG aggregation and market access
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CHINA DEVELOPS HYPERSONIC WEAPON TO HUNT US COMMAND AIRCRAFT THOUSANDS OF MILES AWAY
China has reportedly developed hypersonic glide vehicles (HGVs) capable of launching air-to-air weapons, potentially allowing the PLA to attack high-value aircraft far beyond the traditional fighter-combat zone.
China has reportedly developed hypersonic glide vehicles (HGVs) capable of launching air-to-air weapons, potentially allowing the PLA to attack high-value aircraft far beyond the traditional fighter-combat zone.
KHARIF PADDY SOWING DECLINES 3 PER CENT TO 405.10 LAKH HECTARES DUE TO LOW RAINFALL IN KEY STATES
IPC PROPOSES RS 83,480 CRORE INVESTMENT FOR GREEN HYDROGEN AND DATA CENTRE PROJECT IN KARNATAKA
JP NADDA CHAIRS CEO ROUNDTABLE TO BOOST INVESTMENT IN CHEMICALS SECTOR AND ACHIEVE USD 1 TRILLION BY 2040
JEFFERIES ON INDIAN HOTELS — ACCUMULATE | TP ₹875
Jefferies sees continued simplification and a strong growth outlook for Indian Hotels.
All-stock deal values Oriental Hotels at a ~50% discount to Indian Hotels.
Deal is expected to be EPS accretive from year one.
Oriental Hotels adds non-LFL growth, with potential for further margin and revenue improvement.
Q2 operating trends remain strong; Jefferies sees FY27 RevPAR growth potentially staying in double digits.
Jefferies sees continued simplification and a strong growth outlook for Indian Hotels.
All-stock deal values Oriental Hotels at a ~50% discount to Indian Hotels.
Deal is expected to be EPS accretive from year one.
Oriental Hotels adds non-LFL growth, with potential for further margin and revenue improvement.
Q2 operating trends remain strong; Jefferies sees FY27 RevPAR growth potentially staying in double digits.
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Opening Cues-Narrow Range
Oil Holds Decline as US Tightens Iran Sanctions
Brent Crude Trades Above $92/Bbl
Gold Extends Rally-Rises For 5th Day
Dollar At 3-Month Lows
US Imposes 50% Tariffs On Canada
US Futures Steady Ahead Of Earnings
Nikkei Falls On Tech Losses
Asian Markets Open In Red
FII Shorts Unchanged At 90%
FII Turns Buyers In Cash Market After 2 Sessions
Oil Holds Decline as US Tightens Iran Sanctions
Brent Crude Trades Above $92/Bbl
Gold Extends Rally-Rises For 5th Day
Dollar At 3-Month Lows
US Imposes 50% Tariffs On Canada
US Futures Steady Ahead Of Earnings
Nikkei Falls On Tech Losses
Asian Markets Open In Red
FII Shorts Unchanged At 90%
FII Turns Buyers In Cash Market After 2 Sessions
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IT STOCKS: US PROPOSES $103,265 H-1B FEE
US DHS has proposed a $103,265 fee on H-1B cap-subject petitions.
TCS, Infosys, Wipro and Tech Mahindra in focus.
Higher visa costs could increase onsite hiring expenses and push IT firms towards more local hiring and offshore delivery.
⚠️ The proposal is not final and is subject to public comments and possible legal challenges.
Impact: Negative for Indian IT stocks.
US DHS has proposed a $103,265 fee on H-1B cap-subject petitions.
TCS, Infosys, Wipro and Tech Mahindra in focus.
Higher visa costs could increase onsite hiring expenses and push IT firms towards more local hiring and offshore delivery.
⚠️ The proposal is not final and is subject to public comments and possible legal challenges.
Impact: Negative for Indian IT stocks.
MORGAN STANLEY ON TCS: EQUAL-WEIGHT | TP ₹2,200
Morgan Stanley says the MHP acquisition strengthens TCS’s capabilities.
Porsche partnership provides a long-term strategic relationship.
Acquisition is complementary, but financial impact expected to remain limited.
Could add around 3% to revenue growth and <1% to PAT.
TCS may increasingly use M&A to fill capability gaps and enter new growth areas.
Morgan Stanley says the MHP acquisition strengthens TCS’s capabilities.
Porsche partnership provides a long-term strategic relationship.
Acquisition is complementary, but financial impact expected to remain limited.
Could add around 3% to revenue growth and <1% to PAT.
TCS may increasingly use M&A to fill capability gaps and enter new growth areas.
JEFFERIES ON HOSPITAL SECTOR
Jefferies says MPD-2047 aims to strengthen Delhi’s position as a healthcare and medical-tourism hub.
Plan focuses on expanded infrastructure, better local & regional connectivity and policies supporting higher-density development.
Removal of height restrictions and higher FAR could improve land utilisation and enable hospital capacity additions.
Direct benefits are expected to be strongest for hospital assets in Delhi.
Max Healthcare, Fortis Healthcare and Medanta could be key beneficiaries due to their strong NCR presence.
Jefferies says MPD-2047 aims to strengthen Delhi’s position as a healthcare and medical-tourism hub.
Plan focuses on expanded infrastructure, better local & regional connectivity and policies supporting higher-density development.
Removal of height restrictions and higher FAR could improve land utilisation and enable hospital capacity additions.
Direct benefits are expected to be strongest for hospital assets in Delhi.
Max Healthcare, Fortis Healthcare and Medanta could be key beneficiaries due to their strong NCR presence.
NOMURA ON INDIAN HOTELS — ACCUMULATE | TP ₹830
Nomura expects the Oriental Hotels acquisition to be EPS accretive for Indian Hotels.
Further cost synergies could provide additional earnings benefits.
Asset optimisation and property upgrades could drive EBITDA higher.
The merger will also simplify the group’s holding structure.
Nomura expects the Oriental Hotels acquisition to be EPS accretive for Indian Hotels.
Further cost synergies could provide additional earnings benefits.
Asset optimisation and property upgrades could drive EBITDA higher.
The merger will also simplify the group’s holding structure.
MORGAN STANLEY ON INDIAN HOTELS: EQUAL-WEIGHT | TP ₹793
Morgan Stanley sees the transaction as consolidating assets at attractive valuations.
Adds around 5% to FY26 revenue and 4% to EBITDA.
Deal expected to be EPS accretive from Year 1.
Post-merger, Indian Hotels could benefit from revenue and margin synergies.
Transaction values imply 15x FY27 EV/EBITDA vs Indian Hotels at 29x.
Morgan Stanley sees the transaction as consolidating assets at attractive valuations.
Adds around 5% to FY26 revenue and 4% to EBITDA.
Deal expected to be EPS accretive from Year 1.
Post-merger, Indian Hotels could benefit from revenue and margin synergies.
Transaction values imply 15x FY27 EV/EBITDA vs Indian Hotels at 29x.
CITI ON TCS: SELL | TP ₹1,825
Citi says the MHP acquisition strengthens TCS’s long-term partnership with Porsche.
The deal implies around 5–8x EV/EBIT, assuming €600–700 million FY28 revenue and 7–9% EBIT margins.
Citi sees valuations as low but flags revenue-decline risks.
Acquisitions may support near-term growth, but existing business could decline YoY.
Citi remains cautious on the Indian IT sector.
Citi says the MHP acquisition strengthens TCS’s long-term partnership with Porsche.
The deal implies around 5–8x EV/EBIT, assuming €600–700 million FY28 revenue and 7–9% EBIT margins.
Citi sees valuations as low but flags revenue-decline risks.
Acquisitions may support near-term growth, but existing business could decline YoY.
Citi remains cautious on the Indian IT sector.
NITCO LIMITED:
CO. ENTERS MEMORANDUM OF UNDERSTANDING WITH HOABL IMPACTUM LAND PRIVATE LIMITED FOR JOINT DEVELOPMENT OF ALIBAUG LAND SUPPORTING REAL ESTATE PORTFOLIO EXPANSION
CO. ENTERS MEMORANDUM OF UNDERSTANDING WITH HOABL IMPACTUM LAND PRIVATE LIMITED FOR JOINT DEVELOPMENT OF ALIBAUG LAND SUPPORTING REAL ESTATE PORTFOLIO EXPANSION