Good morning!
Markets On Home Turf
India's benchmark equity indices closed in the red for a sixth straight session on Friday.
The NSE Nifty 50 ended 0.95% lower at 24,654.70 and the BSE Sensex closed 0.90% down at 80,426.46.
Foreign portfolio investors stayed net sellers of Indian shares for a fifth consecutive session on Friday. The overseas investors sold stocks worth approximately Rs 5,687.58 crore, according to provisional data from the National Stock Exchange. Domestic institutional investors remained buyers for the 24th session and mopped equities worth Rs 5,843.21 crore.
Last week, FPIs sold shares worth nearly Rs 19,570 crore while DIIs have bought shares worth Rs 17,411.40 crore.
Wall Street Recap
Contracts for the S&P 500 and the Nasdaq 100 rose after both indexes gained on Friday, snapping three consecutive days of declines, Bloomberg reports.
The Dow Jones Industrial Average climbed 299.97 points, or 0.65%, finishing at 46,247.29. The S&P 500 gained 0.59% to end the day at 6,643.70, while the Nasdaq Composite advanced 0.44% to 22,484.07.
Asian Market Update
Asian shares and US equity-index futures rose, which indicates that Wall Street’s advance after an in-line inflation reading could extend.
Asian shares erased earlier losses to advance 0.2% with Hong Kong jumping 1.2% while the Japanese index declined as ex-dividend stocks with fiscal year endings in March and September weighed on the benchmarks. Shares in mainland China rose 0.2% after a much stronger economic data over the weekend.
Commodity Check
Oil prices declined to start the week amid expectations that OPEC+ will hike production again in November.
Brent fell below $70 a barrel after advancing 5.2% last week, and West Texas Intermediate was around $65. OPEC+ is considering raising output by at least as much as the 137,000-barrel-a-day hike scheduled for next month, Bloomberg reported.
Gold edged higher — after notching a sixth weekly gain — as traders weighed a potential US government shutdown that could delay the release of pivotal jobs data this week, which in turn, cloud the Federal Reserve’s monetary policy path.
Bullion traded near $3,773 an ounce as markets opened on Monday, less than $20 shy of a record-high reached last Tuesday.
Copper has been the hot topic in Indian markets lately. The metal on Friday its biggest weekly gain in three months after a global supply crunch intensified due to a spate of production setbacks.
Stocks In News
Aurobindo Pharma: The company updates that required investment for acquiring 26% stake in Swarnaakshu to be completed on or before December 31. The company’s arm incorporates new wholly-owned subsidiary Curateq Biologics (Malta).
JK Paper: The company completes acquisition of 20% stake worth Rs 32.5 crore in Radhesham Wellpack, post-acquisition company’s shareholding in Radhesham Wellpack increases to 80%.
Lemon Tree: The company appoints Neelendra Singh as MD for 5 years effective October 1. The company also appoints Kapil Sharma as CFO & executive director for 5 years effective October 1. The company signs new 55-room property in Maharashtra.
Yatra Online: The company announces festive travel discounts for shareholders. Shareholders to receive exclusive discount promocodes across domestic & international flights.
Godrej Agrovet: The company in pact with ministry of food processing industries to strengthen food processing & innovation. The company to set up manufacturing & upstream innovation facilities at estimated investment of Rs 960 crore.
Hindustan Unilever: The company updates on latest GST reforms stating around 40% of company’s portfolio benefits from GST revision. The company to ensure GST benefits are passed to customers via competitive prices. The company also expects negative impact on sales in the month of September & October on the back of GST reforms.
BEML: The company updates on tripartite pact with Bharat Forge & Data Patterns to support advanced medium combat aircraft programme & participate in expression of interest floated by Aeronautical Development Agency.
G R Infraprojects: The company approves acquisition of 100% stake of arm Rajgarh Neemuch Power Transmission. The company approves proposal for divestment of 100% stake in arm GR Bahadurganj Araria Highway.
Sula Vineyards: The company has received a penalty worth Rs 6.45 crore from Deputy Commissioner of State Tax, Nashik.
Andhra Paper: The company updates on annual outage at Kadiyam manufacturing facility to be planned between October 6-15.
Shriram Finance: The company to invest further Rs 300 crore in arm Shriram Overseas via rights issue.
Dixon Technologies: The company to acquire 2.08 crore shares worth Rs 552 crore of Q Tech India.
Alkem Laboratories: The company updates on business transfer pact with arm Alkem Wellness for transfer of trade generics business.
Vascon Engineers: The company in pact with Adani Infra as execution partner under an early engagement model for 5 years.
PG Electroplast: The company buys 50 acres land in Sri City, Andhra Pradesh via arm PG Technoplast, the company plans investment of nearly Rs 1,000 crore.
Associated Alcohols: The company gets tax demand of nearly Rs 1.1 crore from Indore Tax Body.
Apollo Pipes: The company approves re-appointment of Arun Agarwal as whole-time director designated as joint MD for three years.
Dollar Industries: The company announces strategic merger of 9 promoter group companies into listed entity.
Azad Engineering: The company enters in long-term contract with Mitsubishi Heavy Industries for nearly Rs 651 crore. The company to supply highly engineered, complex rotating and stationary airfoils.
IRFC: The company to give Rs 4,000 crore loan for Talcher Fertilizers’ coal gasification urea project. The company updates on sanctions in rupee term loan of Rs 12,640 crore for thermal power project in Chhattisgarh. The company extends loan assistance of Rs 3,388.5 crore to NTPC subsidiary for the development of the Banhardih Coal Block in Jharkhand.
National Fertilizers: The company gets tax demand of Rs 116 crore from Guntur tax body.
Deepak Nitrite: The company’s arm Deepak Chem Tech commissions hydrogenation plant in Gujarat. Total capital expenditure incurred is nearly Rs 115 crore.
Welspun Enterprises: The company gets show cause notice for tax demand of Rs 53.59 crore including penalty.
BDL: The company updates on the order book, which stands at around Rs 23,029 crore as of August 31, 2025.
Ambuja Cements: The company receives order from Bhavnagar tax body disallowing cenvat credit with penalty worth Rs 44 crore.
Quality Power: The company gets Rs 8 crore order for supply of iron-core 6% copper wound reactor. The company’s arm Mehru Electrical gets LoI worth Rs 17.7 crore for supply of instrument transformers. The company gets LoI worth Rs 11 crore for supply of air core reactor for FACTS application.
Tata Capital: The company to open its IPO on October 6, close on October 8, the IPO has a fresh issue of up to 21 crore shares, OFS of up to 26.6 crore shares.
Allied Blenders: The company appoints Jayantt Bhalchandra Manmadkar as CFO effective October 10. The company also updates that Anil Somani resigns as CFO effective October 9.
Brigade Enterprises: The company to acquire 100% stake in AMG Info Park for Rs 13.4 crore. The company in pact to sell land in Telangana for Rs 110 crore to arm Brigade Hotel Ventures.
Oil India: The company discovers natural gas in Andaman shallow offshore block.
Tata Motors: The company appoints Shailesh Chandra as MD & CEO effective from October 1. The company also updates on resignation of PB Balaji as group CFO effective from November 17 & to join as CEO of JLR Automotive, UK effective November 17. The company also appoints Dhiman Gupta as CFO effective November 17. The company also receives copy of NCLT order sanctioning company’s demerger scheme.
Akzo Nobel: The company’s promoter Imperial Chemical Industries sells 22.7 lakh shares of company.
Moschip Technologies: The company is actively engaged in developing its Indigenous Smart Energy Meter IC under the DLI Scheme and is making steady progress on the Indigenous HPC processor development for C-DAC, while having also successfully executed multiple turn-key Projects in FY25.
Dalmia Bharat Sugar: The company is acquiring Eagle Agrotech Holdings, an Abu Dhabi-incorporated holding company, to establish a sugarcane plantation and sugar factory in Tanzania.
Rossari Biotech: The company commissions expansion of facility at Dahej with additional capacity of 20,000 MTPA. With this commissioning, total installed capacity of company stands at 1.52 lakh MTPA. The company’s arm Unitop commissions 15,000 MTPA rethoxylation capacity out of total planned 30,000 MTPA expansion at Dahej facility.
AU Small Finance Bank: The company appoints Gaurav Jain as interim CFO.
GOCL Corporation: The company to provide security on its land properties to provide corporate guarantee for loans of up to Rs 220 crore availed by promoter Hinduja Energy.
Hubtown: The company approves allotment of 21.3 lakh shares upon conversion of equal number of warrants.
NTPC: The company approves equity infusion of up to Rs 2,444 crore in arm North Eastern Electric Power Corporation for 3 hydro projects & 1 solar project. The company also approves proposal of JV Aravali Power to set up 1,200 TPD capacity MWD to torrefied charcoal facility at Haryana. The company also updates on cost estimate of North Karanpura super thermal power project revised to Rs 21,495 crore.
SKF India: The company updates that NCLT approves demerger of company’s industrial business into arm.
Marine Electricals: The company updates on acquisition of 26% stake in Xanatech.
JK Lakshmi Cement: The company appoints Shrivats Singhania as Deputy MD for 5 years effective August 1.
Jaykay Enterprises: The company updates that Rs 6.74 crore order from Bharat Dynamics has now been materialised out of Rs 15.9 crore order from Bharat Dynamics.
Edelweiss Financial Services: The company updates that total customer reach is up by 36% to one crore (YoY) and company also updates on growth in PAT of underlying businesses up 24% YoY.
HDFC Bank: The company updates that its branch in DIFC gets decision notice from DFSA & DIFC branch prohibited from soliciting or conducting business with new clients. Prohibition does not apply to continued servicing of existing customers of DIFC branch.
Carborundum Universal: The company updates that Sushil Kishor Bendale steps down as CFO.
Paradeep Phosphates: The company updates that NCLT sanctions second motion petition with respect to scheme of arrangement, entered among Mangalore Chemicals & Fertilizers and company.
Shilpa Medicare: The company approves allotment of 9.77 crore shares as bonus shares in the ratio of 1:1. The company record date to determine eligibility of shareholders for bonus issue is October 3, 2025.
Power Grid Corporation: The company approves proposal to implement VOIP communication system for grid-operation at estimated cost of Rs 210 crore. The company approves proposal to implement disaster preparedness of transmission infrastructure at estimated cost of Rs 496 crore.
Federal Bank: The bank sold GNPA worth Rs 79.5 crore to India SME ARC for Rs 32.6 crore.
OneSource Specialty: Three different companies – Brooks Steriscience, Steriscience Pte and Strides Pharma Services – which are co-owned by promoter and OneSource – will be merged into OneSource. Post merger, promoter holding will increase to 36.2% from 29.8%, while public shareholding will fall to 63.8% from 70.2%.
As per the company, the transaction values OneSource at $2.7 billion, a 18.6% premium to the last closing price. The scheme will take 15 months to complete.
Balmer Lawrie & Company: The Board of Directors approved the closure of its Strategic Business Unit: Refinery and Oil Field Services
Satin Creditcare: The board approved sale of stressed financial assets with an outstanding value of Rs 265.79 crore to an Asset Reconstruction Company (ARC) via the Open Bid Method for a consideration of Rs 86.14 Crore.
Hatsun Agro: The company anticipates a 15% revenue increase in FY26.
Tamilnad Mercantile Bank: The bank opened five new branches in Tamil Nadu.
Krsnaa Diagnostic: The company is to meet multiple investors – Dymon Aisa, Nalanda Capital, Nnikko AMC, Aberdeen - on September 29.
Hemisphere Properties: The company received approval for sale of land worth Rs 130.6 crore.
Interarch Building: The company is to build new plant which increase capacity by 25,000 MT for an investment of Rs 100 crore. The plant will start production by the end of Q2FY27.
PNG Jewellers: The company launches first stores in Lucknow, Uttar Pradesh.
Mphasis: The company’s tax demand reduced to Rs 109 crore from Rs 232 crore.
Websol: The company commences commercial production of additional 600 MW solar cell line.
Chambal Fertiliser: The company faces penalty of Rs 527 crore mainly on alleged GST liability.
Waaree Energies: The company acquires 76% stake in Racemosa Energy for Rs 53 crore.
Godawari Power & Ispat: Six employees die in an accident at company’s Raipur plant. The accident happened due to collapse of refractory of side wall of travel grate of iron ore pellet plant. Operations at Raipur plant to remain closed till completion of internal inquiry.
Birlasoft: The company re-appoints Angan Guha as chief executive officer & managing director.
Capacite Infra: The company updates that income tax department visited company’s office for conducting a survey action on September 26. The proceedings are underway and the company is extending its full co-operation to the officials.
Senco Gold: The company extends strategic & marketing tie-up with August Jewellery till December 31.
Kotak Mahindra Bank: The company appoints Manish Agarwal as president & business head – 811.
Zaggle: The company enters into an agreement with IDFC First Bank. Zaggle shall offer IDFC First Bank's forex solutions to its corporate customers.
Tata Motors: The company updates that JLR North America files recall of 3,818 US vehicles.
Share India Securities: The company and Silverleaf Capital Services Private Limited have filed a joint petition with the National Company Law Tribunal, Ahmedabad Bench on September 27, 2025, to seek approval for their Scheme of Amalgamation.
Ceigall India: The company has announced two contract developments: its joint venture with JSPPPL received a Letter of Award valued at Rs 509.2 crore from the Greater Mohali Area Development Authority for a development project in Mohali, and its arm received a Letter from the NHAI designating September 29 as the appointed date for a Rs 981 crore project.
IPO Offering
Epack Prefab Tech: The company offer prefab business and pre-engineered steel buildings. The company also has other products include light gauge steel frames, metal doors, Aluminium windows. The public issue was subscribed to 3.07 times on day three. The bids were led by qualified institutional investors (5.1 times), non-institutional investors (3.68 times), retail investors (1.69 times).
BMW Venture: The company is primarily engaged in trading/distribution of steel products, tractor engines and spare parts, manufacturing of PVC pipes and roll forming. The public issue was subscribed to 1.5 times on day three. The bids were led by qualified institutional investors (3.09 times), non-institutional investors (3.03 times), retail investors (99%).
Jain Resource Recycling: The company is engaged in the recycling and manufacturing of non-ferrous metal products. Product portfolio includes lead and lead alloy ingots, copper ingots, and aluminium and aluminium alloys. The public issue was subscribed to 15.9 times on day three. The bids were led by qualified institutional investors (25.29 times), non-institutional investors (5.3 times), retail investors (3.62 times)..
Trualt Bioenergy: The company is engaged in the production of biofuels, with a primary focus on the ethanol sector. The public issue was subscribed to 81% on day two. The bids were led by qualified institutional investors (87%), non-institutional investors (80%), retail investors (79%).
Jinkushal Industries: The company is an export trading company supplying construction machinery globally. The public issue was subscribed to 5.11 times on day two. The bids were led by qualified institutional investors (4%), non-institutional investors (6.79 times), retail investors (7.28 times).
Pace Digitek: The company is a multi-disciplinary solutions provider with a primary focus on the telecom infrastructure industry. The public issue was subscribed to 16% on day one. The bids were led by qualified institutional investors (17%), non-institutional investors (9%), retail investors (18%).
Listing Day
Atlanta Electricals: The Company is one of the leading manufacturers of power, auto and inverter duty transformers in India. It will debut on exchanges on Monday. The public issue was subscribed to 70.63 times on day three. The bids were led by qualified institutional investors (194.92 times), non-institutional investors (54.21 times), retail investors (10.42 times).
Ganesh Consumer Products: The company operates in FMCG space. The company is the brand of wheat-based derivatives (maida, sooji, dalia) in East India. It will debut on exchanges on Monday. The public issue was subscribed to 2.67 times on day three. The bids were led by qualified institutional investors (4.18 times), non-institutional investors (4.34 times), retail investors (1.15 times).
IPO Opening
Glottis: The company operates in logistics solutions space that offers comprehensive transportation services through ocean, air, and road logistics. The company will offer shares for bidding on Monday. The price band is set Rs 120 to Rs 129 per share. The Rs 307 crore IPO has fresh issue of Rs 160 crore and offer for sale of Rs 147 crore.
Om Freight Forwarders: The company is a third-generation logistics company based in Mumbai, India. With over four decades of expertise, it operates across five continents, serving over 700 locations.The company will offer shares for bidding on Monday. The price band is set Rs 128 to Rs 135 per share. The 122.31 crore IPO has fresh issue of Rs 24.44 crore and offer for sale of Rs Rs 97.88 crore.
Fabtech Technologies: The company designs and delivers turnkey projects, including cleanroom facilities, modular systems, and customised engineering solutions. The company will offer shares for bidding on Monday. The price band is set Rs 181 to Rs 191 per share. The Rs 230.35 crore is entirely a fresh issue.
Bulk & Block Deals
Anzen India Energy: Edelweiss Infrastructure Yield Plus sells 14.75 lakh shares at Rs 115.01 apiece.
VIP Industries: Kiddy Plast sold 10.8 lakh shares at Rs 388 a piece, Piramal Vibhuti Investments sold 77.5 lakh shares at Rs 388.25 a piece, while Multiples Private Equity bought 60.11 lakh shares at Rs 388 a piece and Samvibhag Securities bought 22 lakh shares at Rs 388 a piece.
Corporate Actions
Shares To Exit Anchor Lock-In: HDB Financial Services (3%) and Sambhv Steel Tubes (3%).
Board Meeting: Camlin Fine Sciences, E2E Networks, Lyka Labs
Pledge Shares Details
Hinduja Global Solutions : Promoter Hinduja Group pledged 45 lakh shares.
Bajaj Finance: Promoter Group, Bajaj Allianz General Insurance acquired 97,000 shares.
Shanti Educational Initiatives: Promoter Group, CHIRIPAL EXIM LLP disposed 5.3 lakh shares.
Energy Infrastructure Trust: Promoter Rapid Holdings 2 disposed 1.32 crore shares.
Mangalam Cement: Promoter Vidula Consultancy Services acquired 50,000 shares.
Paradeep Phosphates: Promoter Zuari Maroc Phosphates acquired 1 crore shares.
Trading Tweaks
List of securities to be excluded from ASM Framework: JSW Holdings, Sindhu Trade Links, Southern Petrochemicals Industries.
Price Band
Price Band change from 20% to 5%: Shankara Building Products
Price Band change from 20% to 10%: Emkay Global Financial Services
F&O Cues
Nifty Sep futures is down by -1.07 to 24,700 at a premium of 46 points.
Nifty Sep futures open interest down by 22.50%.
Nifty Options 30th Sep Expiry: Maximum Call open interest at 25,000 and Maximum Put open interest at 24,500.
Securities in ban period: RBL Bank
Currency/Bond
The rupee closed five paise weaker at 88.72 against the US Dollar. The yield on the 10-year bond ended two points higher at 6.52%.
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