Rupee at 2-month high, strengthens by 27 paise against #USDollar, touching 94.80/$ intra-day
🟢Dealers say Rupee gains largely due to RBI selling dollars
🟢Rupee up 2.2% from record low of 96.96/$; is best performing currency in Asia today
🟢Dealers say Rupee gains largely due to RBI selling dollars
🟢Rupee up 2.2% from record low of 96.96/$; is best performing currency in Asia today
Jefferies on Autos
Auto demand momentum remained strong in August for 2Ws, PVs & trucks with registration up 24-29% YoY; however, tractors grew just 3% YoY
Estimate that domestic wholesales grew ~36-43% YoY for PVs & trucks, & 10% for 2Ws & tractors
Wholesales rose a sharp 56% YoY for TMPV, 21-38% for AL/MM/BJAUT/MSIL/TVSL, 9-11% for EIM(RE)/HYUNDAI, but just 3% for HMCL
Vs JEFe, Aug wholesales were in-line for MSIL, HMCL & HYUNDAI, and ahead for rest
Auto demand momentum remained strong in August for 2Ws, PVs & trucks with registration up 24-29% YoY; however, tractors grew just 3% YoY
Estimate that domestic wholesales grew ~36-43% YoY for PVs & trucks, & 10% for 2Ws & tractors
Wholesales rose a sharp 56% YoY for TMPV, 21-38% for AL/MM/BJAUT/MSIL/TVSL, 9-11% for EIM(RE)/HYUNDAI, but just 3% for HMCL
Vs JEFe, Aug wholesales were in-line for MSIL, HMCL & HYUNDAI, and ahead for rest
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Bernstein on Sun Pharma
O-P, TP Rs 2235
Sun Pharmaceutical became sole Indian co among nine drugmakers signing Most-Favored-Nation (MFN) pricing agreements at White House & remains only Indian innovator across all MFN signatories to date.
Believe agreement is strategically important because it both protects & expands Sun's US$1.2-1.3bn innovative-medicines franchise
Under agreement, Sun will extend MFN pricing to participating Medicaid programs and apply MFN principles to future innovative launches
Believe Lower Medicaid net prices could expand patient access, reduce prior-authorization barriers and support broader biologic adoption.
O-P, TP Rs 2235
Sun Pharmaceutical became sole Indian co among nine drugmakers signing Most-Favored-Nation (MFN) pricing agreements at White House & remains only Indian innovator across all MFN signatories to date.
Believe agreement is strategically important because it both protects & expands Sun's US$1.2-1.3bn innovative-medicines franchise
Under agreement, Sun will extend MFN pricing to participating Medicaid programs and apply MFN principles to future innovative launches
Believe Lower Medicaid net prices could expand patient access, reduce prior-authorization barriers and support broader biologic adoption.
Aster DM sees 46 lakh shares worth Rs 350.34 crore change hands in two block deals
EPL : YESTERDAY LARGE TRADE
BLACKSTONE ENTITY SOLD 26.3 % STAKE AT 240.6 /SHARE
BUYERS ; QUANT MF , 360 ONE , ICICI PRU , ABU DHABI , BANDHAN MF ETC
BLACKSTONE ENTITY SOLD 26.3 % STAKE AT 240.6 /SHARE
BUYERS ; QUANT MF , 360 ONE , ICICI PRU , ABU DHABI , BANDHAN MF ETC
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HDFC SECURITIES ON HAPPIEST MINDS ; DOWNGRADES TO ADD | TP ₹400
• Downgrade reflects deal price implying no takeover premium.
• 15-month integration timeline adds uncertainty; no clarity yet on retention of existing management.
• ITC Infotech to acquire Happiest Minds through a two-step deal.
• First step: ITC Infotech to pay ₹1,330 Cr cash for 22.1% stake.
• Merger swap values Happiest Minds at ₹6,167 Cr and ITC Infotech at ₹11,920 Cr.
• Combined entity targets $1 bn revenue by FY28.
• Deal targets 10% revenue synergy and 100 bps margin expansion.
• Downgrade reflects deal price implying no takeover premium.
• 15-month integration timeline adds uncertainty; no clarity yet on retention of existing management.
• ITC Infotech to acquire Happiest Minds through a two-step deal.
• First step: ITC Infotech to pay ₹1,330 Cr cash for 22.1% stake.
• Merger swap values Happiest Minds at ₹6,167 Cr and ITC Infotech at ₹11,920 Cr.
• Combined entity targets $1 bn revenue by FY28.
• Deal targets 10% revenue synergy and 100 bps margin expansion.
VODAFONE IDEA:
CO. RENEWS BRAND IDENTITY, FLAGS AMBITIONS AS A TECH COMPANY BEYOND TELECOM - BUSINESSLINE
CO. RENEWS BRAND IDENTITY, FLAGS AMBITIONS AS A TECH COMPANY BEYOND TELECOM - BUSINESSLINE
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JM Financial on Consumer Durables
Raises 3 key questions for the C&W industry
1️⃣ Is growth peaking?
Elevated copper prices from late-Q3/Q4FY27 could make revenue growth look weaker over the next 12 months.
2️⃣ Is the Street underestimating competition?
UltraTech + Diamond Power could reach ~₹17,000cr revenue by FY29E, implying 11–12% market share. Add Crompton & Bajaj as well.
Domestic opportunity CAGR could fall to ~10.5% FY26–29E. Hence Pricing discipline could also come under pressure.
3️⃣ Do valuations leave room for slower growth?
C&W stocks trade at a 4–5%/~25% premium to 5Y/long-term average P/E.
Polycab looks most vulnerable to slowing growth & peaking margins, followed by RR Kabel and KEI.
JM Financial downgrades:
Polycab & KEI → ADD (from BUY)
RR Kabel → REDUCE (from ADD)
Raises 3 key questions for the C&W industry
1️⃣ Is growth peaking?
Elevated copper prices from late-Q3/Q4FY27 could make revenue growth look weaker over the next 12 months.
2️⃣ Is the Street underestimating competition?
UltraTech + Diamond Power could reach ~₹17,000cr revenue by FY29E, implying 11–12% market share. Add Crompton & Bajaj as well.
Domestic opportunity CAGR could fall to ~10.5% FY26–29E. Hence Pricing discipline could also come under pressure.
3️⃣ Do valuations leave room for slower growth?
C&W stocks trade at a 4–5%/~25% premium to 5Y/long-term average P/E.
Polycab looks most vulnerable to slowing growth & peaking margins, followed by RR Kabel and KEI.
JM Financial downgrades:
Polycab & KEI → ADD (from BUY)
RR Kabel → REDUCE (from ADD)
SMS PHARMA: CARE RATINGS REAFFIRMS ‘CARE A’ & ‘CARE A1’ RATINGS
• Long-term bank facilities: ₹570.07 Cr, enhanced from ₹350.87 Cr.
• Rating reaffirmed at ‘CARE A’; outlook revised to Stable from Positive.
• Short-term bank facilities: ₹52.83 Cr.
• Short-term rating reaffirmed at ‘CARE A1’.
• Long-term bank facilities: ₹570.07 Cr, enhanced from ₹350.87 Cr.
• Rating reaffirmed at ‘CARE A’; outlook revised to Stable from Positive.
• Short-term bank facilities: ₹52.83 Cr.
• Short-term rating reaffirmed at ‘CARE A1’.
Karur Vysya Bank announces that Shri Ramasamy G V has taken charge as Chief Financial Officer & Key Managerial Personnel in the rank of General Manager, effective 01st September 2026. This follows an earlier intimation on changes in Senior Management Personnel. The incumbent CFO, Shri Ramshankar R, is transitioning to Chief Operating Officer upon his elevation as Chief General Manager. 🏦
SUPER INVESTOR AKASH BHANSALI’S ₹7,939 CR STOCK PORTFOLIO!📊
Top 10 Holdings:👇
1- Gujarat Fluorochemicals — ₹2,440.0 Cr
2- Laurus Labs — ₹1,297.3 Cr
3- One97 Communications (Paytm) — ₹1,224.8 Cr
4- Sudarshan Chemical — ₹633.8 Cr
5- Schneider Electric — ₹412.8 Cr
6- Ramkrishna Forgings — ₹305.7 Cr
7- Amber Enterprises — ₹297.2 Cr
8- Greenlam Industries — ₹289.4 Cr
9- Welspun Living — ₹238.9 Cr
10- Inox Wind — ₹227.0 Cr
👀 Interesting: His top 3 bets alone are worth nearly ₹5,000 Cr!
Top 10 Holdings:👇
1- Gujarat Fluorochemicals — ₹2,440.0 Cr
2- Laurus Labs — ₹1,297.3 Cr
3- One97 Communications (Paytm) — ₹1,224.8 Cr
4- Sudarshan Chemical — ₹633.8 Cr
5- Schneider Electric — ₹412.8 Cr
6- Ramkrishna Forgings — ₹305.7 Cr
7- Amber Enterprises — ₹297.2 Cr
8- Greenlam Industries — ₹289.4 Cr
9- Welspun Living — ₹238.9 Cr
10- Inox Wind — ₹227.0 Cr
👀 Interesting: His top 3 bets alone are worth nearly ₹5,000 Cr!
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GPT INFRA: DECLARED L1 FOR ₹483.7 CR ORDER FROM RVNL
• Declared L1 (First Lowest) for a ₹483.7 Cr contract, including GST.
• Order value: ₹410 Cr + GST.
• Client: Rail Vikas Nigam Ltd (RVNL).
• Scope: Construction of Important Bridge 544 over Mahanadi River in Odisha.
• Project involves a 32×65.84m Open Web Steel Girder bridge for the Nergundi–Barang 3rd & 4th line project.
• Declared L1 (First Lowest) for a ₹483.7 Cr contract, including GST.
• Order value: ₹410 Cr + GST.
• Client: Rail Vikas Nigam Ltd (RVNL).
• Scope: Construction of Important Bridge 544 over Mahanadi River in Odisha.
• Project involves a 32×65.84m Open Web Steel Girder bridge for the Nergundi–Barang 3rd & 4th line project.
VAIBHAV GLOBAL: CARE RATINGS UPGRADES CREDIT RATING
• ₹120 Cr bank facilities rating upgraded to ‘CARE A+; Stable / CARE A1+’ from ‘CARE A+; Stable / CARE A1’.
• Upgrade based on FY26 audited and Q1FY27 unaudited performance.
• Total rated bank facilities: ₹120 Cr.
• Punjab National Bank: ₹48 Cr | HDFC Bank: ₹34 Cr | Yes Bank: ₹21 Cr | SBI: ₹15 Cr.
• ₹120 Cr bank facilities rating upgraded to ‘CARE A+; Stable / CARE A1+’ from ‘CARE A+; Stable / CARE A1’.
• Upgrade based on FY26 audited and Q1FY27 unaudited performance.
• Total rated bank facilities: ₹120 Cr.
• Punjab National Bank: ₹48 Cr | HDFC Bank: ₹34 Cr | Yes Bank: ₹21 Cr | SBI: ₹15 Cr.
UltraTechCement: To scale up supply chain electrification with 600+ heavy-duty electric truck fleet
Signs service contracts with cos like TataMotors, AshokLeyland for EV Fleet
Signs service contracts with cos like TataMotors, AshokLeyland for EV Fleet
BSE Says - On Zee Business
CAS has lead to lower participations from HFT, Prop accounts, Retail traders
CAS participation needs to pick up
CAS has lead to lower volumes
CAS has lead to lower participations from HFT, Prop accounts, Retail traders
CAS participation needs to pick up
CAS has lead to lower volumes
MAHAMAYA STEEL
PROMOTER BOUGHT ADDITIONAL 0.19 % STAKE ON 31 AUG VIA OPEN MARKET 🟢
PROMOTER BOUGHT ADDITIONAL 0.19 % STAKE ON 31 AUG VIA OPEN MARKET 🟢
COAL INDIA: FILES DRHP FOR MAHANADI COALFIELDS IPO
• DRHP for wholly owned subsidiary Mahanadi Coalfields Ltd (MCL) filed with SEBI, BSE & NSE on September 1, 2026.
• Proposed IPO is an Offer for Sale of up to 66.18 Cr equity shares.
• Shares held by Coal India; face value ₹2 per share.
• IPO subject to regulatory approvals, market conditions and other factors.
• DRHP for wholly owned subsidiary Mahanadi Coalfields Ltd (MCL) filed with SEBI, BSE & NSE on September 1, 2026.
• Proposed IPO is an Offer for Sale of up to 66.18 Cr equity shares.
• Shares held by Coal India; face value ₹2 per share.
• IPO subject to regulatory approvals, market conditions and other factors.
BSE says - ZEE BUSINESS
Self listing is not allowed
But if NSE does listing on BSE and then NSE does Permit to trade it could be ALLLOWED
This means IPO listing on BSE and NSE under permit to trade is allowed
BSE SHARES COOL OFF FROM HIGHS POST INTERVIEW
Self listing is not allowed
But if NSE does listing on BSE and then NSE does Permit to trade it could be ALLLOWED
This means IPO listing on BSE and NSE under permit to trade is allowed
BSE SHARES COOL OFF FROM HIGHS POST INTERVIEW
Strong Breakout Soon Candidate!
#MARKSANS
1- Tight Range Action
2- Holding up well
3- Trading above all key moving averages
Keep on Radar.
Potential Upside Stock!
Follow for more updates ........
#MARKSANS
1- Tight Range Action
2- Holding up well
3- Trading above all key moving averages
Keep on Radar.
Potential Upside Stock!
Follow for more updates ........
SUBHASH CHANDRA INSOLVENCY CASE
NCLAT keeps Zee founder Subhash Chandra insolvency case pending, to hear on October 7
Counsel for Chandra challenges constitution of 5-member NCLT bench to hear case
SG Mehta pleads NCLAT to keep lenders' application pending as Chandra challenges constitution of 5-member bench
NCLT 5-judge bench issued notice to parties on Tuesday
Matter placed before 5-judge bench as there was no majority view
SG Tushar Mehta mentioned case before NCLAT on Monday
Creditors such Union Bank, Canara Bank and LIC housing finance moved NCLAT against NCLT tie-breaker judge order
Tie-breaker judge had approved ₹6.5 crore repayment plan of Chandra against admitted liabilities of ₹22,000 crore
NCLAT keeps Zee founder Subhash Chandra insolvency case pending, to hear on October 7
Counsel for Chandra challenges constitution of 5-member NCLT bench to hear case
SG Mehta pleads NCLAT to keep lenders' application pending as Chandra challenges constitution of 5-member bench
NCLT 5-judge bench issued notice to parties on Tuesday
Matter placed before 5-judge bench as there was no majority view
SG Tushar Mehta mentioned case before NCLAT on Monday
Creditors such Union Bank, Canara Bank and LIC housing finance moved NCLAT against NCLT tie-breaker judge order
Tie-breaker judge had approved ₹6.5 crore repayment plan of Chandra against admitted liabilities of ₹22,000 crore