ELECTRONICS MART: CO EXPANDS INTO EASTERN INDIA; SCALES PREMIUM LIFESTYLE FORMATS & LEVERAGES PROFITABLE NCR NETWORK
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INDIA FINANCE MINISTRY: SITHARAMAN, BESSENT COMMITTED TO DEEPENING INDIA-US RELATIONSHIP IN VARIOUS AREAS INCLUDING CRITICAL MINERALS
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INDIA FINANCE MINISTRY: INDIA FINANCE MINISTER SITHARAMAN INVITED BESSENT FOR THE ECONOMIC & FINANCIAL PARTNERSHIP TO NEW DELHI LATER THIS YEAR
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HDFC BANK: CO EXERCISES CALL OPTION TO REDEEM ₹739 CRORE ADDITIONAL TIER 1 BONDS ON SEPTEMBER 30
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INDIA FINANCE MINISTRY:
INDIA FINANCE MINISTER SITHARAMAN INVITED BESSENT FOR THE ECONOMIC & FINANCIAL PARTNERSHIP TO NEW DELHI LATER THIS YEAR
INDIA FINANCE MINISTER SITHARAMAN INVITED BESSENT FOR THE ECONOMIC & FINANCIAL PARTNERSHIP TO NEW DELHI LATER THIS YEAR
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Iran will respond to US attacks with a response 'several times larger and US bases and interests in the region will be targeted - Tasnim cites senior Iranian Military Source.
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IRAN'S FARS CITES IRGC SPOKESPERSON AS SAYING U.S. 'WILL REGRET ITS NEW ATTACKS'
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TATA MOTORS:
CO'S UNIT TML CV HOLDINGS B.V. SECURES ALL REGULATORY AUTHORIZATIONS FROM ITALIAN AND INTERNATIONAL REGULATORY AUTHORITIES FOR IVECO GROUP N.V. VOLUNTARY TENDER OFFER
CO'S UNIT TML CV HOLDINGS B.V. SECURES ALL REGULATORY AUTHORIZATIONS FROM ITALIAN AND INTERNATIONAL REGULATORY AUTHORITIES FOR IVECO GROUP N.V. VOLUNTARY TENDER OFFER
MPHASIS:
CO. AND TECHNOPRO HOLDINGS SIGN STRATEGIC AGREEMENT TO ACCELERATE AI-LED ENTERPRISE TRANSFORMATION IN JAPAN
CO. AND TECHNOPRO HOLDINGS SIGN STRATEGIC AGREEMENT TO ACCELERATE AI-LED ENTERPRISE TRANSFORMATION IN JAPAN
NEPHROCARE HEALTH:
CO. ACQUIRES 100% STAKE IN DIALYSIS CENTER ALMATY KAZAKHSTAN
CO. ACQUIRES 100% STAKE IN DIALYSIS CENTER ALMATY KAZAKHSTAN
JP MORGAN ON STEEL
• Cost pressures persist; reiterates selective stance on the sector.
• Domestic HRC prices have started rising, but spreads remain largely flattish.
• Surprised by sharp rally in SAIL; recent cost escalation likely to weigh on profitability due to higher coke rate vs peers.
• Expects steel prices to remain range-bound for now.
• Sees gradual recovery in spreads after festive season.
• JSW Steel remains preferred pick.
• Cost pressures persist; reiterates selective stance on the sector.
• Domestic HRC prices have started rising, but spreads remain largely flattish.
• Surprised by sharp rally in SAIL; recent cost escalation likely to weigh on profitability due to higher coke rate vs peers.
• Expects steel prices to remain range-bound for now.
• Sees gradual recovery in spreads after festive season.
• JSW Steel remains preferred pick.
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CLSA ON OIL & GAS
• Around 70% of >1 bn bbl Hormuz supply shortfall met through strategic reserve releases from China, US & OECD.
• Limited crude upside and sharp backwardation suggest market expects supply relief.
• CLSA sees limited scope for near-term supply relief.
• China, Korea & Japan may increase imports as strategic reserves get depleted.
• This could push crude prices higher over the next 2–3 months.
• Positive on ONGC & Oil India; Negative on IOC, BPCL & HPCL.
• Around 70% of >1 bn bbl Hormuz supply shortfall met through strategic reserve releases from China, US & OECD.
• Limited crude upside and sharp backwardation suggest market expects supply relief.
• CLSA sees limited scope for near-term supply relief.
• China, Korea & Japan may increase imports as strategic reserves get depleted.
• This could push crude prices higher over the next 2–3 months.
• Positive on ONGC & Oil India; Negative on IOC, BPCL & HPCL.
UBS ON COAL INDIA
ACCUMULATE
TP ₹550
• Higher coal offtake and e-auction premium seen in August 2026.
• Coal offtake grew 6% YoY, though below the 13% YoY growth in power demand.
• E-auction premium increased amid strong demand.
ACCUMULATE
TP ₹550
• Higher coal offtake and e-auction premium seen in August 2026.
• Coal offtake grew 6% YoY, though below the 13% YoY growth in power demand.
• E-auction premium increased amid strong demand.
HSBC ON SUN PHARMA
ACCUMULATE
TP ₹2,120
• MFN deal removes tariff overhang for Sun Pharma for the next two years.
• Sees limited impact of ~2% on FY29 EPS estimates; awaits further clarity.
• Tariff concerns ease following the deal.
ACCUMULATE
TP ₹2,120
• MFN deal removes tariff overhang for Sun Pharma for the next two years.
• Sees limited impact of ~2% on FY29 EPS estimates; awaits further clarity.
• Tariff concerns ease following the deal.
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JEFFERIES ON AUTO SALES
• Auto demand momentum remained strong in August.
• Registrations for 2Ws, PVs & trucks grew 24–29% YoY, while tractors grew just 3%.
• Estimates domestic wholesales grew ~36–43% YoY for PVs & trucks and ~10% for 2Ws & tractors.
• August wholesales were in-line for Maruti, Hero MotoCorp & Hyundai and ahead of estimates for the rest.
• Auto demand momentum remained strong in August.
• Registrations for 2Ws, PVs & trucks grew 24–29% YoY, while tractors grew just 3%.
• Estimates domestic wholesales grew ~36–43% YoY for PVs & trucks and ~10% for 2Ws & tractors.
• August wholesales were in-line for Maruti, Hero MotoCorp & Hyundai and ahead of estimates for the rest.
CITI ON AUTO SALES
• Aug’26 YoY sales trends supported by a weak base.
• Channel stocking delayed due to shift in festive season.
• Maruti: Healthy YoY volume growth, but not commensurate with capacity.
• Hyundai: Steady volume growth.
• M&M: Strong UV volumes; modest growth in tractors.Iran: The US struck Kuhestak in southern Hormozgan - Fars
• Aug’26 YoY sales trends supported by a weak base.
• Channel stocking delayed due to shift in festive season.
• Maruti: Healthy YoY volume growth, but not commensurate with capacity.
• Hyundai: Steady volume growth.
• M&M: Strong UV volumes; modest growth in tractors.Iran: The US struck Kuhestak in southern Hormozgan - Fars
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CITI ON L&T
ACCUMULATE | TP ₹4,650
• Robust order inflow momentum strengthens medium-term visibility.
• Recent order wins further improve revenue visibility.
• Remains positioned for an execution recovery.
• Valuations remain reasonable.
ACCUMULATE | TP ₹4,650
• Robust order inflow momentum strengthens medium-term visibility.
• Recent order wins further improve revenue visibility.
• Remains positioned for an execution recovery.
• Valuations remain reasonable.
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CITI ON AUTO SALES
• Aug’26 YoY sales trends supported by a weak base.
• Channel stocking delayed due to shift in festive season.
• Maruti: Healthy YoY volume growth, but not commensurate with capacity.
• Hyundai: Steady volume growth.
• M&M: Strong UV volumes; modest growth in tractors.Iran: The US struck Kuhestak in southern Hormozgan - Fars
• Aug’26 YoY sales trends supported by a weak base.
• Channel stocking delayed due to shift in festive season.
• Maruti: Healthy YoY volume growth, but not commensurate with capacity.
• Hyundai: Steady volume growth.
• M&M: Strong UV volumes; modest growth in tractors.Iran: The US struck Kuhestak in southern Hormozgan - Fars
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