MORGAN STANLEY ON CREDIT CARD DATA

• Jul-26 industry cards-in-force grew 10% YoY, faster than spends growth of 7%.

• Spend per card declined 2.4% YoY — continuing a trend seen for the past 10 months.

• Transaction growth remains strong, also continuing the 10-month trend.

• Transactions are growing faster than spends, indicating a shift towards smaller but more frequent card transactions.

@Bazaarupdate

JEFFERIES ON CREDIT CARDS

• July 2026 credit-card spending growth moderated.

• SBI Cards’ spend market share eased.

• Overall industry card growth improved.

• Spending per card moderated sequentially.

• Credit cards’ share of retail digital spending (excluding NEFT) remained steady MoM.

@Bazaarupdate

OPENING CUES-POSITIVE OPENING

Rubio-U.S. Shifting From Strikes To Sanctions On Iran

Positive Developments On Hormuz Strait (Iran-Oman)

Oil Declines For 3rd Day

Gold Steadies Ahead Of Inflation Data

Gold Remains Near 3-Month High

Bitcoin Above $80k-At 3 Month High

US Futures Dip Ahead of Nvidia Earnings

US Crude Inventories Rise More Than Expected

Copper Prices Hit Record High

FII Shorts Unchanged At 90%

FII Buyers In Cash Market For 2nd Session

@Bazaarupdate

ACTION FOR DAY

September F&O Series Starts

Banks Shut On Account Of Holiday

Hind Copper-OFS Opens For Retail

IPO Listings-Gaja Alternative Asset Management

Bonus- Mold-Tek Packaging

Fund Raising- Keystone Realtors

Lockin Expiry-Gem Aromatics

AGM- Eternal,Hyundai Motor

Global Earnings-Nvidia

US-PCE Price Index Data

US-GDP Data

@Bazaarupdate

VEEFIN SOLUTIONS: CO. SUBSIDIARIES EXECUTE BUSINESS TRANSFER AGREEMENT BETWEEN ISL AND NTPL SUPPORTING SERVICE OPERATIONS CONSOLIDATION AND GROUP STRUCTURE STREAMLINING FOR ENHANCED OPERATIONAL EFFICIENCY

@Bazaarupdate

COFORGE

CO EMERGES AS A STANDOUT NON-LINEAR GROWTH LEADER IN HFS RESEARCH ASSESSMENT

RECOGNITION REFLECTS COFORGE’S ABOVE-INDUSTRY-AVERAGE PERFORMANCE IN REVENUE PER FTE AND OPERATING MARGIN PER FTE

@Bazaarupdate

📊 ORDER WINS — AUGUST 25, 2026

🟢 MAJOR CONTRACT WINS

☀️ Sigma Advanced — Secured £125M Rolls-Royce supply chain contract

☀️ LT — Won a major BESS order in the Middle East

🌙 NBCC — Secured ₹121.74 Cr school construction order

☀️ Suzlon — Won 250 MW wind order from Torrent Green

🟣 OTHER ORDER WINS

🌙 ARSS Infra — ₹104.06 Cr order for two road overbridges

🌙 Relicab — ₹8.26 Cr control cable supply order

🌙 Shayona Engineering — ₹24.25 Lakh engineering components order

☀️ BMW Ventures — ₹24.98 Cr TMT steel supply order

🌙 Sai Parenterals — Two OTC supply agreements worth ₹370 Cr

🌙 Advait Energy Transitions — ₹134.62 Cr emergency restoration system order

🌙 Jaykay Enterprises — ₹60.01 Cr order from BrahMos Aerospace

🌙 Aptech — ₹7.23 Cr state government examination contract

☀️ Kotic — Two food service contracts worth ₹17.85 Cr

🌙 MSECL — ₹10.40 Cr land surveying services order

☀️ OraiRail — New order from Indian Railways for MEMU seats

☀️ Arkade Developers — Received occupation certificate for Vile Parle project

🌙 Arvind — Terminated one power deal and signed two new one

@Bazaarupdate

VARUN BEVERAGES: CO TO INCORPORATE KIVA SPIRITS & COMPANY LTD AS 100% INDIAN SUBSIDIARY FOR RTD/ALCOHOLIC BEVERAGES AND VARUN BEVERAGES TUNISIA SA IN TUNISIA FOR BEVERAGES, WITH VBL HOLDING 75% ALONGSIDE BEVANDA’S 25% STAKE.

@Bazaarupdate

Physicswallah

👉4.67 Cr Shares (1.6% Eq) Worth ₹550 Cr Change Hands In Block Deal Window

WelspunCorp

👉63 Lk Shares (2.4% Eq) Worth ₹1,433 Cr Change Hands In Block Deal Window

BERNSTEIN’S TOP POWER PICKS — OUTPERFORM

• NTPC — Target ₹430

• L&T — Target ₹4,637

• JSW Energy — Target ₹575

• Tata Power — Target ₹443

📊 Bernstein says the data-centre power-demand story is yet to fully play out on the ground.

⚡ India’s biggest advantage: lower cost of electricity, which could support the data-centre opportunity.

Chola Finance In Focus – Positive Commentary

Vellayan Subbiah Says -
I Am Continuing As Executive Chairman Of Chola

It's A Role In Chola Invst I Am 100% Continuing & Will Continue To Serve

Revolving Credit Is Less Than 1% Of Our AUM, Do Not See RBI Rules Affecting Us

HAL: CO AND SAFRAN HELICOPTER ENGINES SIGN FINAL CONTRACT WITH SAFHAL, LAUNCHING DEVELOPMENT AND PRODUCTION OF THE ARAVALLI ENGINE.

CHOLAMANDALAM INVESTMENT AND FIN: CO SAYS BOOK IS IMPROVING, ROAS IMPROIVING SIGNIFICANTLY

CHOLAMANDALAM INVESTMENT & FINANCE: CO CHAIRMAN VELLAYAN SUBBIAH CLARIFIES HE WILL CONTINUE AS CHAIRMAN, SAYING HE IS “NOT GOING ANYWHERE” AND HAS AMBITIOUS PLANS AHEAD. - TV

CG Power and Industrial Solutions MANAGEMENT COMMENTARY

• 💻 Chairman says revenue per chip could be 100x to 300–400x higher compared with legacy chips.

• 📦 Chip packaging capacity is in short supply as leading companies are directing capacity towards AI-related demand.

SHANTHI GEARS: TUBE INVESTMENTS says It Is Too Early To Think Through (Merger Or De-Listing) Of Shanthi Gears

JPMorgan sees Nifty at 27,000 as value trade returns; high US yields may limit gains