NSE VS BSE

📊 NSE’s operating scale & profitability far ahead of BSE

• Revenue: NSE ₹16,601 Cr ↑ vs BSE ₹4,834 Cr

• Transaction Charges: NSE ₹13,057 Cr ↑ vs BSE ₹3,795 Cr

• EBITDA: NSE ₹12,657 Cr ↑ vs BSE ₹3,156 Cr

• EBITDA Margin: NSE 76% ↑ vs BSE 65%

• PAT: NSE ₹10,302 Cr ↑ vs BSE ₹2,497 Cr

MINING COULD PUMP $500 BILLION INTO INDIA'S ECONOMY AND CREATE 3 CRORE JOBS IN 20 YEARS: MAHARASHTRA CM FADNAVIS

CEIGALL INDIA:

CO BOARD APPROVES ACQUISITION OF 100% STAKE IN JAM KHAMBHALIYA JAMNAGAR POWER TRANSMISSION FROM REC

ALLIED BLENDERS AND DISTILLERS: CO APPROVES ₹125 CRORE CAPITAL CONTRIBUTION TO SUBSIDIARY MINAKSHI AGRO FOR 3 MN BL MALT DISTILLERY IN AURANGABAD AND COST OVERRUNS

ESDS Software has doubled after listing but there are a LOT of red flags. The five biggest ones below:

The "$1.25 bn deal" is money ESDS must pay, not money it will earn -> its not being framed properly in communications

Almost all the cash is a refundable prepayment from one unnamed customer — ₹1,177 cr advance is 251% of revenue and ~98% of OCF

The GPU supplier is a tiny, short-attacked company that may not deliver

45% of group profit sits in a subsidiary the main auditor never audited, and the promoter personally owns 1% of it

The promoter describes the same deal differently depending on who's asking, and the delivery date has already slipped — "order win" on CNBC Awaaz, "the cost" on CNBC-TV18; seven years became five; GPUs called appreciating assets. Sydney go-live now "end of October" vs 16 September filed delivery.

AUROBINDO PHARMA : USFDA INSPECTION ENDS WITH ZERO OBSERVATIONS ✅

• USFDA inspection at subsidiary Apitoria Pharma’s Unit-IV API facility concluded with zero observations.

• Inspection conducted from Sept 7–11, 2026.

• Positive regulatory compliance milestone for the company.

PIRAMAL FINANCE : MOODY’S UPGRADES RATINGS TO Ba2 📈

• Moody’s upgrades Long-Term CFR & Senior Secured Debt Rating to Ba2 from Ba3.

• Upgrade reflects lower legacy assets, stronger capitalisation & improving profitability.

• Diversified funding profile and improved credit profile expected to support lower funding costs.

• Domestic ratings also improved to AA+/Stable from CRISIL, ICRA & CARE.

📊 CPI set to decide next week’s Fed hike as markets price 61% chance.

JUST IN : 🚨🇺🇸 US core consumer prices rose 0.3% in August, above the 0.2% forecast.

US CPI (YOY) (AUG) ACTUAL: 3.4% VS 3.4% PREVIOUS; EST. 3.4%

US CORE CPI (YOY) (AUG) ACTUAL: 2.4% VS 2.5% PREVIOUS; EST. 2.4%

PRESIDENT PUTIN SAYS WESTERN COMPETITORS OF BRICS ARE TRYING TO REGAIN FORMER LEADERSHIP, AND THIS STRUGGLE IS TAKING AN UNSEEMLY TURN AT GOVERNMENTAL LEVEL

PRESIDENT PUTIN SAYS WEST COUNTRIES ARE TRYING TO INTERFERE WITH LOGISTICS, DESTROY INFRASTRUCTURE, AND SEIZE VESSELS

PRESIDENT PUTIN SAYS WEST IS RESORTING TO DIRECT DESTRUCTION OF FACILITIES AND PIPELINES IN AN EFFORT TO MAINTAIN ITS ECONOMIC LEADERSHIP

RBI: FCNR(B)-LINKED PSL EXEMPTIONS TO APPLY ONLY TO DEPOSITS MOBILISED UNTIL AUG. 31

IRAN CALLS FOR BRICS BANK TO BOOST INFRASTRUCTURE FINANCING

LANCER CONTAINER LINES: CO REPORTS CYBER FRAUD INVOLVING IMPERSONATION AND FRAUDULENT PAYMENT INSTRUCTIONS, NO BUSINESS DISRUPTION, COMPLAINT LODGED

BLOCK DEAL IN GRANULES INDIA

Promoter Krishna Prasad Sells 1.72 Cr Shs (6.9% Eq) In Co For ₹1,509 Cr Via Block Deal

Smallcap World Fund Buys 34.74 Lk Shares (1.4% Eq) In Co For 303 Cr

BNP Paribas Buys 13.2 Lk Shares (0.53% Eq) In Co For 115 Cr

Goldman Sachs Buys 11.73 Lk Shares (0.47% Eq) In Co For 102 Cr

Kotak Mah Life Buy 11.54 Lk Shares (0.47% Eq) In Co For 101 Cr

Shares Were Bought At An Average Price Of 872.50/Share On NSE

JSW ENERGY : SUBSIDIARY RECEIVES ICRA RATINGS

• JSW Neo Energy, a wholly owned subsidiary, receives credit ratings from ICRA

• Long-Term Bank Loans: ICRA AA (CE) / Stable

• Unsupported Long-Term Bank Loans: ICRA AA- / Stable

• Commercial Paper & Short-Term/Working Capital: ICRA A1+

• Ratings reaffirm the subsidiary’s strong credit profile

SEBI PAPER ON CAS IS OUT
* 5 topics with suggestions
* Deadline for suggestions is Oct 3rd

Read on.

1. F&O SETTLEMENT

Option 1: Use Blended VWAP
1. 30 minutes of normal cash trading + 10 mins of CAS
2. Weight depends on actual trading in each period

Option 2: Go back to old VWAP, for now
1. Use only last 30 mins of continuous cash trading
2. CAS trades would have 0 role in expiry settlement
3. Take a call on moving to Option 1 after 1 year

2. MARKET TIMINGS

Option 1
1. Normal cash trading for CAS stocks until 3:30 PM
2. CAS then runs roughly 3:31–3:40 PM
3. F&O trading continues until 3:45 PM

Option 2
1. CAS stocks continue normal trading only until 3:15 PM
2. CAS runs roughly 3:15–3:25 PM
3. F&O closes at 3:30 PM
4. Non-CAS stocks continue trading normally until 3:30

3. NO LIVE INDICATIVE INDEX VALUES DURING CAS

1. Stop showing the live indicative index during CAS
2. Individual stocks can still show indicative rates

4. CLAMP DOWN ON SPOOFING

1. Keep the overall CAS price band at ±3%
2. Orders within ±1% of ref price can be cancelled
3. An order > 1% away from ref price = no cancellation

5. BRING ICEBERG ORDERS INTO CAS
6. Any unexecuted portion of an Iceberg order at the end of normal trading would move into CAS
7. But it would become a normal limit order

BOJ JGB HOLDINGS PLUNGE BY RECORD ¥47.8 TRILLION YOY IN JULY

BANK OF JAPAN CUTS GOVERNMENT BOND HOLDINGS AT UNPRECEDENTED PACE; ¥47.8 TRILLION ANNUAL DROP MARKS BIGGEST DECLINE EVER