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
NSE may cut IPO size to Rs 25,000 crore from Rs 30,000 crore : Reports
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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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DAYANAND MITTAL, JM FINANCIAL
OMCs Might Be Importing Oil Between $110-115/bbl
OMCs Tell Us That India Is Paying $10-15 Premium To Brent Price
5-6 m Bpd Of Total World Refining Capacity (6-7% Of Total) Is Shut Right Now
Consolidated GRMs Now At $25-30 Vs Historical Avg Of $6-7/bbl
We Like Oil India, It Is Our Top Pick, Could Be A 15% Earnings Compounder
OMCs Might Be Importing Oil Between $110-115/bbl
OMCs Tell Us That India Is Paying $10-15 Premium To Brent Price
5-6 m Bpd Of Total World Refining Capacity (6-7% Of Total) Is Shut Right Now
Consolidated GRMs Now At $25-30 Vs Historical Avg Of $6-7/bbl
We Like Oil India, It Is Our Top Pick, Could Be A 15% Earnings Compounder
IDBI BANK:
NO AGREEMENT HAS YET BEEN REACHED WITH FAIRFAX ON IDBI BANK'S VALUATION, AS PER SOURCES -TV
NO AGREEMENT HAS YET BEEN REACHED WITH FAIRFAX ON IDBI BANK'S VALUATION, AS PER SOURCES -TV
STEEL EXCHANGE INDIA:
CO. ENTERS INTO MOU WITH NMDC FOR SUPPLY OF IRON ORE FINES; MOU IS NON-EXCLUSIVE AND NON-BINDING WITH A FOUR-YEAR TERM; SUPPORTS COMPANY'S EXPANSION PLANS.
CO. ENTERS INTO MOU WITH NMDC FOR SUPPLY OF IRON ORE FINES; MOU IS NON-EXCLUSIVE AND NON-BINDING WITH A FOUR-YEAR TERM; SUPPORTS COMPANY'S EXPANSION PLANS.
BSE CEO S Ramamurthy :
Most players not present in stock closing auction; Stabilizing India stock closing auction key focus (Agencies)
Most players not present in stock closing auction; Stabilizing India stock closing auction key focus (Agencies)