Kremlin Calls Putin's Talks With US Envoys Useful but Offers No Sign of Breakthrough
Kremlin described Putin’s three-hour meeting with Witkoff and Kushner as “highly useful,” but offered no evidence that they had narrowed the gap over ending the war.
Kremlin described Putin’s three-hour meeting with Witkoff and Kushner as “highly useful,” but offered no evidence that they had narrowed the gap over ending the war.
A social media incident has put McDonald’s India in the spotlight after posts allegedly made by an intern appeared on the company’s official X account, claiming months of unpaid salary and dues exceeding Rs 60,000. The posts were later deleted, but screenshots have since gone viral.
The authenticity of the claims remains unverified, and McDonald’s India has not publicly responded to the allegations.
The authenticity of the claims remains unverified, and McDonald’s India has not publicly responded to the allegations.
🚨 NEOGEN CHEMICALS: ₹6.97 CR GST DEMAND
• Received GST show cause-cum-demand notice for FY23.
• 💰 Demand: ₹6.97 Cr, including interest & penalty.
• Key issues: GSTR-1 vs GSTR-3B mismatch + excess ITC claims on imports/SEZ.
• Company will file a detailed reply and pursue legal remedies.
• Company says no material operational/financial impact, except the amount mentioned.
• Received GST show cause-cum-demand notice for FY23.
• 💰 Demand: ₹6.97 Cr, including interest & penalty.
• Key issues: GSTR-1 vs GSTR-3B mismatch + excess ITC claims on imports/SEZ.
• Company will file a detailed reply and pursue legal remedies.
• Company says no material operational/financial impact, except the amount mentioned.
TRUMP’S APPROVAL RATING HITS RECORD-LOW 33%; DEMOCRATS LEAD GOP BY 7.5 POINTS
Donald Trump’s approval rating has fallen to a record-low 33%, with growing voter dissatisfaction over the economy and cost of living.
Adding to Republican concerns ahead of the November midterms, 46% of voters say Trump is making it harder for Republican congressional candidates to win, while Democrats hold a 7.5-point lead over Republicans in voting intentions.
The latest FT–Focaldata poll, conducted among 1,914 registered voters, suggests Trump’s political standing could increasingly become a liability for the GOP.
Donald Trump’s approval rating has fallen to a record-low 33%, with growing voter dissatisfaction over the economy and cost of living.
Adding to Republican concerns ahead of the November midterms, 46% of voters say Trump is making it harder for Republican congressional candidates to win, while Democrats hold a 7.5-point lead over Republicans in voting intentions.
The latest FT–Focaldata poll, conducted among 1,914 registered voters, suggests Trump’s political standing could increasingly become a liability for the GOP.
FPIs TURN NET SELLERS, PULL OUT ₹7,443 CRORE FROM INDIAN EQUITIES IN FIRST WEEK OF SEPTEMBER
Foreign portfolio investors (FPIs) withdrew ₹7,443 crore from Indian equities in the first week of September, reversing two consecutive months of buying.
Foreign portfolio investors (FPIs) withdrew ₹7,443 crore from Indian equities in the first week of September, reversing two consecutive months of buying.
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SBI TO HIRE 12,000 STAFF, ADD 250 BRANCHES IN FY27: CHAIRMAN C.S. SHETTY
State Bank of India plans to recruit around 11,000–12,000 employees across clerical and officer cadres and add 200–250 branches on a net basis during FY27, Chairman C.S. Shetty said.
State Bank of India plans to recruit around 11,000–12,000 employees across clerical and officer cadres and add 200–250 branches on a net basis during FY27, Chairman C.S. Shetty said.
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₹5,000 IIT-DELHI DEVICE TO HELP UPGRADE OLD DIESEL TRUCKS, BUSES TO NEAR BS-VI EMISSION LEVELS
Union Minister Nitin Gadkari said owners of BS-III, BS-IV and older diesel trucks and buses will be allowed to install a retrofit emission-control device developed from an IIT-Delhi innovation.
Union Minister Nitin Gadkari said owners of BS-III, BS-IV and older diesel trucks and buses will be allowed to install a retrofit emission-control device developed from an IIT-Delhi innovation.
IRAN WARNS US: RESPONSE TO FUTURE ATTACKS WILL BE ‘FASTER, HEAVIER AND MORE PAINFUL’
Iranian Parliament Speaker Mohammad Baqer Qalibaf warned that the “rules of the game” have changed, saying any future attack on Iran’s interests or security will trigger a faster, heavier and more painful response.
Iranian Parliament Speaker Mohammad Baqer Qalibaf warned that the “rules of the game” have changed, saying any future attack on Iran’s interests or security will trigger a faster, heavier and more painful response.
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MOLBIO DIAGNOSTICS Q1 Result
• Net Profit: ₹53 Cr | ↓45% QoQ | ↑321% YoY
• Revenue: ₹408 Cr | ↓27% QoQ | ↑310% YoY
• EBITDA: ₹101 Cr | ↓37% QoQ | ↑758% YoY
• EBITDA Margin: 24.6% vs 28.3% QoQ | -15.3% YoY
• Net Profit: ₹53 Cr | ↓45% QoQ | ↑321% YoY
• Revenue: ₹408 Cr | ↓27% QoQ | ↑310% YoY
• EBITDA: ₹101 Cr | ↓37% QoQ | ↑758% YoY
• EBITDA Margin: 24.6% vs 28.3% QoQ | -15.3% YoY
JPM on Polycab
OW TP Rs 10000
UTCEM’s official launch a sentiment negative, but meaningful business impact unlikely
Absolute capex committed so far being much lower than approved capex (Rs888cr vs overall approval for Rs1,800cr)
With primary focus being residential wires (30% of Polycab/KEI’s revenue mix), do not anticipate a meaningful medium-term business impact & would view any meaningful correction, especially towards 3-year trough valuations of 31-32X, as a buying opportunity
Once UTCEM’s entry is digested focus will likely shift back to fundamentals, which in view remain reasonably strong for sector
Key monitorables over the next few weeks would be pricing and channel margins/incentives being offered by UTCEM
OW TP Rs 10000
UTCEM’s official launch a sentiment negative, but meaningful business impact unlikely
Absolute capex committed so far being much lower than approved capex (Rs888cr vs overall approval for Rs1,800cr)
With primary focus being residential wires (30% of Polycab/KEI’s revenue mix), do not anticipate a meaningful medium-term business impact & would view any meaningful correction, especially towards 3-year trough valuations of 31-32X, as a buying opportunity
Once UTCEM’s entry is digested focus will likely shift back to fundamentals, which in view remain reasonably strong for sector
Key monitorables over the next few weeks would be pricing and channel margins/incentives being offered by UTCEM
Kotak Inst Eqt on NTPC
Upgrade to ADD, TP Rs 365
NTPC’s stock has corrected 20% since May 2026 & has remained largely rangebound over past three years
NTPC’s stock price movement in recent years has moved along broader investment narratives of energy security or increased power demand that have remained short-lived on the back of modest earnings growth
Recent price correction may be excessive with valuations having come off (1.5X P/B on 2027E) as improved project execution could aid earnings growth in the medium term.
NTPC’s long-term capacity targets of 151/250 GW by FY2032/37E would entail strong capex of Rs16.9 tn (43% renewable) over next decade, while under-construction capacity (35.7 GW) will help propel earnings growth in near term.
Upgrade to ADD, TP Rs 365
NTPC’s stock has corrected 20% since May 2026 & has remained largely rangebound over past three years
NTPC’s stock price movement in recent years has moved along broader investment narratives of energy security or increased power demand that have remained short-lived on the back of modest earnings growth
Recent price correction may be excessive with valuations having come off (1.5X P/B on 2027E) as improved project execution could aid earnings growth in the medium term.
NTPC’s long-term capacity targets of 151/250 GW by FY2032/37E would entail strong capex of Rs16.9 tn (43% renewable) over next decade, while under-construction capacity (35.7 GW) will help propel earnings growth in near term.
Kotak Inst Eqt on GMR Airports
Recommendation Buy, TP Rs 121
Marginally raise TP following the Hyderabad Airport tariff order, which benefits from upfront recognition of capex at a higher allowed cost of capital
Also view recent credit rating upgrades positively, as they materially reduce refinancing risk for 5% of consolidated debt maturing by February 2027
CMP implies sub-5% downside over next year, assuming only value of existing concessions, & a 25% upside in KIE base case—assumes reinvestment of cash, third-party business in duty-free & value of legal cases.
Recommendation Buy, TP Rs 121
Marginally raise TP following the Hyderabad Airport tariff order, which benefits from upfront recognition of capex at a higher allowed cost of capital
Also view recent credit rating upgrades positively, as they materially reduce refinancing risk for 5% of consolidated debt maturing by February 2027
CMP implies sub-5% downside over next year, assuming only value of existing concessions, & a 25% upside in KIE base case—assumes reinvestment of cash, third-party business in duty-free & value of legal cases.
DHOOT TRANSMISSION Q1 : GUIDES FOR 25-30% FY27 REVENUE GROWTH; 15-16% EBITDA MARGIN 🚗📈
• Management expects FY27 revenue growth of 25-30%, driven by electrification, new customer additions and expansion of the product portfolio.
• Reiterated FY27 EBITDA margin guidance of 15-16%, with margin recovery expected as raw-material cost increases are passed through.
• EV revenue contributes ~27% of total revenue currently; management expects this to exceed 32% over the next 2-3 years if EV penetration continues to rise.
• Management expects Multilink to deliver ~25-30% growth after full integration, with margins broadly in line with Dhoot Transmission.
• IPO proceeds are being deployed towards capacity expansion and growth initiatives; utilization details to be disclosed in the next reporting period.
• Management expects FY27 revenue growth of 25-30%, driven by electrification, new customer additions and expansion of the product portfolio.
• Reiterated FY27 EBITDA margin guidance of 15-16%, with margin recovery expected as raw-material cost increases are passed through.
• EV revenue contributes ~27% of total revenue currently; management expects this to exceed 32% over the next 2-3 years if EV penetration continues to rise.
• Management expects Multilink to deliver ~25-30% growth after full integration, with margins broadly in line with Dhoot Transmission.
• IPO proceeds are being deployed towards capacity expansion and growth initiatives; utilization details to be disclosed in the next reporting period.
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TATA MOTORS PV
Jaguar Land Rover may cut 4,000 jobs as Tata-owned carmaker targets £1.7bn savings and 300,000-vehicle break-even point a year after cyber attack, piling pressure on Andy Burnham's 'reindustrialise' Britain pledge : Reports
Jaguar Land Rover may cut 4,000 jobs as Tata-owned carmaker targets £1.7bn savings and 300,000-vehicle break-even point a year after cyber attack, piling pressure on Andy Burnham's 'reindustrialise' Britain pledge : Reports
TATA MOTORS PV
Minister says no bailout for Jaguar Land Rover amid job cut reports
Minister says no bailout for Jaguar Land Rover amid job cut reports
GS on TBO Tek
Buy, TP Rs 1800
Management meet Key takeaways
(i) TBO aspires to grow gross profit at 20%+ over the medium term, with a faster EBITDA growth;
(ii) Co views its moat in aggregating travel demand from a long tail of travel agents, which is different vs some of its competitors
(iii) TBO helps customers book complex and high value itineraries, and consumers here lean towards supported travel (less susceptible to disruption).
Buy, TP Rs 1800
Management meet Key takeaways
(i) TBO aspires to grow gross profit at 20%+ over the medium term, with a faster EBITDA growth;
(ii) Co views its moat in aggregating travel demand from a long tail of travel agents, which is different vs some of its competitors
(iii) TBO helps customers book complex and high value itineraries, and consumers here lean towards supported travel (less susceptible to disruption).
ETERNAL, SAREGAMA | BOOKMYSHOW : LIVE-EVENTS BUSINESS SURGES 📈
• BookMyShow parent Big Tree Entertainment’s live-events revenue more than tripled to ₹756 Cr in FY25 from ₹237.5 Cr in FY23.
• FY25 live-events revenue was close to online-ticketing revenue of ₹828 Cr.
• India’s organised live-events industry expected to grow from ₹14,500 Cr in 2025 to ₹19,600 Cr by 2028.
• BookMyShow expanding into concert infrastructure, staging, venues and event properties.
• FY25 total income stood at ₹1,869 Cr, with net profit of ₹192 Cr.
• Company is developing large-format venues and plug-and-play concert infrastructure to tap growing demand.
• BookMyShow parent Big Tree Entertainment’s live-events revenue more than tripled to ₹756 Cr in FY25 from ₹237.5 Cr in FY23.
• FY25 live-events revenue was close to online-ticketing revenue of ₹828 Cr.
• India’s organised live-events industry expected to grow from ₹14,500 Cr in 2025 to ₹19,600 Cr by 2028.
• BookMyShow expanding into concert infrastructure, staging, venues and event properties.
• FY25 total income stood at ₹1,869 Cr, with net profit of ₹192 Cr.
• Company is developing large-format venues and plug-and-play concert infrastructure to tap growing demand.