FERMENTA BIOTECH: CO SIGNS EXCLUSIVE LICENCE AGREEMENT WITH VIT VELLORE FOR VITAMIN B12 FORTIFICATION TECHNOLOGY FOR FERMENTED FOODS
IRANIAN AIR DEFENSE FORCES IDENTIFIED AND TARGETED A US DRONE OVER THE STRAIT OF HORMUZ, THE IRGC-AFFILIATED FARS NEWS AGENCY REPORTED ON TUESDAY.
FARS SAID THE OPERATION WAS CARRIED OUT BY AIR DEFENSE UNITS OF IRAN'S REGULAR MILITARY IN THE SOUTHEAST OF THE COUNTRY.
THERE WAS NO IMMEDIATE CONFIRMATION FROM US OFFICIALS OF THE REPORTED INCIDENT.
FARS SAID THE OPERATION WAS CARRIED OUT BY AIR DEFENSE UNITS OF IRAN'S REGULAR MILITARY IN THE SOUTHEAST OF THE COUNTRY.
THERE WAS NO IMMEDIATE CONFIRMATION FROM US OFFICIALS OF THE REPORTED INCIDENT.
NLC INDIA | 200 MW WIND POWER PROJECT 🌬️
• Wholly owned subsidiary NLC India Renewables Ltd (NIRL) emerges successful bidder in SJVN’s 600 MW wind power tender
• NIRL receives Letter of Award for development of 200 MW contracted capacity
• Project awarded through tariff-based competitive bidding
• Wind power project to be developed on PAN-India basis
• Wholly owned subsidiary NLC India Renewables Ltd (NIRL) emerges successful bidder in SJVN’s 600 MW wind power tender
• NIRL receives Letter of Award for development of 200 MW contracted capacity
• Project awarded through tariff-based competitive bidding
• Wind power project to be developed on PAN-India basis
NEW YORK FED REPORTS EXPECTED INFLATION FOR FIVE YEARS AHEAD REMAINS STEADY AT 3% IN AUGUST.
HUGE POSITIVE FOR HEG AND GRAPHITE
GrafTech announces 30% graphite electrode price increase
GRAFTECH shares surge 14% post Announcement
GrafTech announces 30% graphite electrode price increase
GRAFTECH shares surge 14% post Announcement
ACTION FOR DAY
Apple iPhone 18 Launch
IPO Opening- Rentomojo, Steamhouse
IPO Opening- Manipal Payment, Asset Reconstruction Co
IPO Opening- LCC Projects, Karamtara Engineering
Block Deal-Biocon
Lockin Expiry-Ardee Industries
Fund Raising-Natco Pharma
Rights Issue Close-Ratnaveer Precision
Apple iPhone 18 Launch
IPO Opening- Rentomojo, Steamhouse
IPO Opening- Manipal Payment, Asset Reconstruction Co
IPO Opening- LCC Projects, Karamtara Engineering
Block Deal-Biocon
Lockin Expiry-Ardee Industries
Fund Raising-Natco Pharma
Rights Issue Close-Ratnaveer Precision
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OPENING CUES-WEAK
West Asia Crisis Intensifies
Brent Crude Near 7-Week High
US Inflation Expectations Remains Elevated
Copper Prices At Record High
Gold Holds Losses After 2 Sessions
US Futures Stay Steady
Asian Chip Stocks Extends Gain
Yen Strengthens For 3rd Day
Global Yields Remain Higher
Weak Setup For Rupee
FII Shorts Unchanged At 89%
FII Turn Sellers In Cash Market After 1 Session
West Asia Crisis Intensifies
Brent Crude Near 7-Week High
US Inflation Expectations Remains Elevated
Copper Prices At Record High
Gold Holds Losses After 2 Sessions
US Futures Stay Steady
Asian Chip Stocks Extends Gain
Yen Strengthens For 3rd Day
Global Yields Remain Higher
Weak Setup For Rupee
FII Shorts Unchanged At 89%
FII Turn Sellers In Cash Market After 1 Session
COFORGE: CHAIRPERSON & INDEPENDENT DIRECTOR O.P. BHATT RESIGNS AMID BOARD EVALUATION PROCESS CONCERNS 🔴🔴
●O.P. Bhatt resigned as Non-Executive Independent Director and Chairperson of Coforge with immediate effect on September 8, 2026.
●An internal audit review of the Board Evaluation Exercise identified concerns over how the Board Evaluation Report was handled and presented to the Board.
●Review noted that certain material information relating to the report and the Chairperson’s performance had not been fully disclosed to the Board.
●Board sought an explanation from Bhatt; he submitted his response, which was still being evaluated when he resigned.
●Bhatt said he had acted in good faith but cited disagreement over the characterization of his actions in the Board evaluation process as the material reason for resignation.
●Vivek Sharma, Non-Executive Independent Director, has been appointed interim Chairperson until January 31, 2027.
●Impact: Negative — sudden Chairperson resignation coupled with disclosed internal-audit and governance concerns may weigh on investor sentiment.
●O.P. Bhatt resigned as Non-Executive Independent Director and Chairperson of Coforge with immediate effect on September 8, 2026.
●An internal audit review of the Board Evaluation Exercise identified concerns over how the Board Evaluation Report was handled and presented to the Board.
●Review noted that certain material information relating to the report and the Chairperson’s performance had not been fully disclosed to the Board.
●Board sought an explanation from Bhatt; he submitted his response, which was still being evaluated when he resigned.
●Bhatt said he had acted in good faith but cited disagreement over the characterization of his actions in the Board evaluation process as the material reason for resignation.
●Vivek Sharma, Non-Executive Independent Director, has been appointed interim Chairperson until January 31, 2027.
●Impact: Negative — sudden Chairperson resignation coupled with disclosed internal-audit and governance concerns may weigh on investor sentiment.
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AUTO ; JSW, Skoda-Volkswagen India stitch up 51:49 JV plan; sign non-binding MoU, begin exclusive valuation talks - ET REPORT
BERNSTEIN ON EXCHANGES
• MCX ; INITIATE OUTPERFORM | TP ₹3,830
• BSE ; INITIATE UNDERPERFORM | TP ₹2,820
• Indian exchanges have delivered strong returns as rising retail participation boosted earnings and valuations.
• Equity derivatives led the retail participation wave, but Bernstein expects moderation ahead.
• MCX ; INITIATE OUTPERFORM | TP ₹3,830
• BSE ; INITIATE UNDERPERFORM | TP ₹2,820
• Indian exchanges have delivered strong returns as rising retail participation boosted earnings and valuations.
• Equity derivatives led the retail participation wave, but Bernstein expects moderation ahead.
JEFFERIES ON TEXTILES
• WELSPUN LIVING ; UPGRADE TO BUY FROM HOLD | TP ₹260 FROM ₹125
• RAYMOND LIFESTYLE ; INITIATE BUY | TP ₹900
• India’s textile sector is entering a multi-year structural growth cycle.
• Growth supported by China+1 sourcing.
• UK/EU FTAs expected to improve tariff competitiveness for Indian textile exporters.
• WELSPUN LIVING ; UPGRADE TO BUY FROM HOLD | TP ₹260 FROM ₹125
• RAYMOND LIFESTYLE ; INITIATE BUY | TP ₹900
• India’s textile sector is entering a multi-year structural growth cycle.
• Growth supported by China+1 sourcing.
• UK/EU FTAs expected to improve tariff competitiveness for Indian textile exporters.
JEFFERIES ON FINOLEX CABLES ; ACCUMULATE | TP ₹1,410
• Despite a 60% YTD rally, Finolex trades at around 21x 1-year forward P/E, notably below peers.
• Communication segment drove margin improvement and contributed around 23% of Q1 EBIT.
• Finolex plans to double its fibre-draw capacity to 8 million km by Q3.
• At an assumed fibre price of $11/km, the expanded capacity could generate ₹200–250 Cr sales per quarter.
• Electricals remains the core business, while solar and EHV cables are emerging as new growth drivers.
• Despite a 60% YTD rally, Finolex trades at around 21x 1-year forward P/E, notably below peers.
• Communication segment drove margin improvement and contributed around 23% of Q1 EBIT.
• Finolex plans to double its fibre-draw capacity to 8 million km by Q3.
• At an assumed fibre price of $11/km, the expanded capacity could generate ₹200–250 Cr sales per quarter.
• Electricals remains the core business, while solar and EHV cables are emerging as new growth drivers.
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