US PRESIDENT TRUMP: IRAN WILL NOT HAVE A NUCLEAR WEAPON AND IS FAILING VERY BADLY, NUCLEAR ISSUE WILL BE OVER WITH VERY SOON
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TRADERS CUT BETS ON OCTOBER FED HIKE; NOW SEE JUST ONE RATE HIKE BY YEAR-END AFTER WILLIAMS SAYS THERE IS “NO URGENCY” TO ACT
MEDIATORS ARE RENEWING EFFORTS TO NEGOTIATE A SETTLEMENT BETWEEN THE UNITED STATES AND IRAN, DAYS AFTER PRESIDENT DONALD TRUMP REJECTED AN IRANIAN REQUEST TO REOPEN THE STRAIT OF HORMUZ AND RESTART TALKS TO END THE WAR, WITH NEGOTIATORS DUE TO GIVE OVER THE LATEST UPDATED COPY OF A POTENTIAL INTERIM AGREEMENT TO IRAN ON TUESDAY, ACCORDING TO TWO INDIVIDUALS BRIEFED ON THE TALKS. - FT
TRADERS SEE 50-50 CHANCE OF OCTOBER FED RATE HIKE, DOWN FROM 70% PREVIOUSLY
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CNBCTV18 SAYS
UNION CABINET LIKELY TO APPROVE MSP FOR RABI CROPS FOR THE MARKETING SEASON 2027-28
MSP for Rabi crops, including wheat, barley, gram and lentil, among others, likely to be hiked
Cabinet may also approve the third phase of the Green Energy Corridor (GEC), with an outlay of approx ₹55,000 crore
Evacuation of 135 GW of renewable energy targeted under the scheme
Cabinet may also consider the proposal to continue the PM Ujjwala subsidy scheme for FY27
Govt provides a ₹300 subsidy on every domestic LPG cylinder under the scheme
UNION CABINET LIKELY TO APPROVE MSP FOR RABI CROPS FOR THE MARKETING SEASON 2027-28
MSP for Rabi crops, including wheat, barley, gram and lentil, among others, likely to be hiked
Cabinet may also approve the third phase of the Green Energy Corridor (GEC), with an outlay of approx ₹55,000 crore
Evacuation of 135 GW of renewable energy targeted under the scheme
Cabinet may also consider the proposal to continue the PM Ujjwala subsidy scheme for FY27
Govt provides a ₹300 subsidy on every domestic LPG cylinder under the scheme
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POSITIVE FOR ORACLE FINANCIAL SERVICES
Oracle shares jump as much as 8.2% after Axios reported that OpenAI’s annual recurring revenue is nearing $70 billion
OpenAI’s annualized revenue run rate has grown more than 70% since the beginning of the third quarter, Axios reported.
OpenAI signed a $400 billion deal with Oracle and SoftBank last year to support the development of five US data centers
Oracle shares jump as much as 8.2% after Axios reported that OpenAI’s annual recurring revenue is nearing $70 billion
OpenAI’s annualized revenue run rate has grown more than 70% since the beginning of the third quarter, Axios reported.
OpenAI signed a $400 billion deal with Oracle and SoftBank last year to support the development of five US data centers
VESUVIUS INDIA IN FOCUS: RHI MAGNESITA’S TAKEOVER OF PARENT COULD TRIGGER OPEN OFFER FOR INDIAN SHAREHOLDERS AT 47 % PREMIUM
RHI MAGNESITA IN ADVANCED TALKS TO ACQUIRE VESUVIUS PLC AT ~47% PREMIUM
RHI MAGNESITA IN ADVANCED TALKS TO ACQUIRE VESUVIUS PLC AT ~47% PREMIUM
CLSA, INDRAJIT AGARWAL
CEMENT INDUSTRY OUTLOOK
India Is Better Placed Than Global Cement Ind As It Has Lower Clinker Usage
See Good Demand Momentum In July & August
200-250 EBITDA/tonne Realisation Reduction Is Likely For This Quarter
Expect 1-2% Cement Price Increase In Oct 2026 & 2-3% In April 2027
Prefer Large Caps, High Conviction Call On UltraTech Followed By Ambuja Cement
CEMENT INDUSTRY OUTLOOK
India Is Better Placed Than Global Cement Ind As It Has Lower Clinker Usage
See Good Demand Momentum In July & August
200-250 EBITDA/tonne Realisation Reduction Is Likely For This Quarter
Expect 1-2% Cement Price Increase In Oct 2026 & 2-3% In April 2027
Prefer Large Caps, High Conviction Call On UltraTech Followed By Ambuja Cement
IPO LISTING TODAY
MAINBOARD
ADROITIND – ₹235 | +75.37%
SWASTIKAIN – ₹200 | +8.11%
GSPLTRANS – ₹152 | +1.33%
ARMEE – ₹375 | 0.00%
ELEVATE – ₹355.10 | -1.91%
SME
POOJALOGIS – ₹118 | +2.61%
COREIN – ₹78.10 | +0.13%
MAINBOARD
ADROITIND – ₹235 | +75.37%
SWASTIKAIN – ₹200 | +8.11%
GSPLTRANS – ₹152 | +1.33%
ARMEE – ₹375 | 0.00%
ELEVATE – ₹355.10 | -1.91%
SME
POOJALOGIS – ₹118 | +2.61%
COREIN – ₹78.10 | +0.13%
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HOSPITAL STOCKS down in trade
Max Health -5%
Fortis -4.5%
Apollo Hospitals -5%
Aster DM down 4%
SC Raises Concerns Over Private Hospital Pharmacy Mark-ups
* The Supreme Court has raised concerns over the high mark-ups on medicines by private hospitals and their practice of requiring inpatients to purchase drugs through in-house pharmacies.
* The Bench cited a striking example of a cancer drug with a PTR of ~Rs 2,700 versus MRP of ~Rs 27,000, questioning the rationale for such a wide spread. It also observed that patients could be reluctant to buy a much cheaper version from an outside chemist because the large MRP differential could make them suspect the cheaper drug is spurious. The Court further questioned why the existing 16% margin cap for scheduled drugs could not potentially be extended to all medicines, although no such cap has been ordered yet.
* The government sought time for inter-departmental consultations and indicated that a balanced solution needs to be found. The matter is scheduled for hearing again on October 12, 2026.
Max Health -5%
Fortis -4.5%
Apollo Hospitals -5%
Aster DM down 4%
SC Raises Concerns Over Private Hospital Pharmacy Mark-ups
* The Supreme Court has raised concerns over the high mark-ups on medicines by private hospitals and their practice of requiring inpatients to purchase drugs through in-house pharmacies.
* The Bench cited a striking example of a cancer drug with a PTR of ~Rs 2,700 versus MRP of ~Rs 27,000, questioning the rationale for such a wide spread. It also observed that patients could be reluctant to buy a much cheaper version from an outside chemist because the large MRP differential could make them suspect the cheaper drug is spurious. The Court further questioned why the existing 16% margin cap for scheduled drugs could not potentially be extended to all medicines, although no such cap has been ordered yet.
* The government sought time for inter-departmental consultations and indicated that a balanced solution needs to be found. The matter is scheduled for hearing again on October 12, 2026.
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SAI LIFE SCIENCES, SIVARAMAKRISHNAN CHITTOR SAYS
See Steady Progress In China+1 Opportunity
In Discovery Segment Is 40% Pharma & 60% Biotech In Terms Of Revenue
Biotech Will Continue To Be Approx 35% Of Overall Rev & Will Continue To See An Uptick
Announced A Peptides Plant, Will Come Up By 2028
Expect To See A CAGR Growth Of 15-20% Over The Next 2-3 Years
See Steady Progress In China+1 Opportunity
In Discovery Segment Is 40% Pharma & 60% Biotech In Terms Of Revenue
Biotech Will Continue To Be Approx 35% Of Overall Rev & Will Continue To See An Uptick
Announced A Peptides Plant, Will Come Up By 2028
Expect To See A CAGR Growth Of 15-20% Over The Next 2-3 Years