Stock Market Live: GIFT Nifty Points To Negative Open For Nifty, Sensex; Brent Crude Near $102 A Barrel

A fire at Aditya Infotech's AIL Dixon plant in Kopparthy has resulted in an estimated loss of Rs 28 crore.

Bank of Maharashtra has disclosed a proposed strike by seven unions for September 11.

Bank of Maharashtra:

• Seven unions propose to go on strike on Sept 11.
• Bank is taking necessary steps for smooth functioning of operations.

Indian Bank has made arrangements to maintain operations amid the proposed banking union strike.

Indian Bank:

• UFBU calls strike on 11 Sept. 2026, 28-30 Sept. 2026 and continuous strike from 26 Oct. 2026.
• UFBU comprises AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBOC and INBEF.
• Bank has made arrangements to ensure smooth functioning during strike period.
• Branch and office operations may be affected if strike materialises.

Capri Global Capital raised $300 million by allotting notes under its Global Medium Term Note programme, according to an exchange filing.

Juniper Green Spark Ten fully commissioned its 75 MW wind-solar hybrid power project after adding the final 10 MW of wind capacity on Sept. 9, according to an exchange filing.

RPG Active Pharma allotted securities worth Rs 243 crore to India Life Sciences Fund IV Domestic and Vistaject Fund, according to an exchange filing.

Punjab National Bank has outlined proposed strike dates and said it is taking steps to maintain operations.

Punjab National Bank:

• UFBU proposes to go on strike on Sept 11.
• UFBU, AIBASM and BKSM propose to go on strike on Sept 28-30.
• UFBU, AIBASM and BKSM propose continuous strike from Oct 26.
• Taking necessary steps for smooth functioning of operations.

Union Bank of India has warned that branch and office operations could be affected by proposed banking sector strikes.

Union Bank of India:

• Bank unions call strike on 11 Sept. 2026, 28-30 Sept. 2026 and from 26 Oct. 2026 onwards.
• UFBU, AIBOA, AIBASM and BKSM to participate in proposed strikes.
• Bank says branch and office operations may be impacted if strike proceeds.
• Taking steps to ensure smooth operations during strike period.
• Unable to quantify impact at present.

RBI has approved ICICI Prudential Asset Management Company's proposed acquisition of up to 9.95% in AU Small Finance Bank.

RBI has approved ICICI Prudential Asset Management Company's proposed acquisitions of up to 9.95% in four banks.

• RBI approves acquisition of aggregate holding of up to 9.95% in four banks.
• Banks included are CSB Bank, DCB Bank, Kotak Mahindra Bank and AU Small Finance Bank.
• Acquisition to be undertaken on behalf of schemes of ICICI Prudential Mutual Fund, AIF schemes and PMS clients.

Indian Bank plans to monetise part of its NSE holding through an offer for sale linked to the proposed NSE IPO.

• To divest up to 15 lakh NSE shares via offer for sale in proposed NSE IPO.
• Proposed sale represents 17.91% of Indian Bank's holding in NSE.
• Dividend received from NSE stood at Rs 29.31 crore in FY26.
• Transaction expected to be completed by end-Sept. 2026.

Fine Organic Industries has completed the acquisition of a controlling stake in Oleofine Organics.

Fine Organic Industries

• Completes acquisition of 80% stake in Oleofine Organics for Rs 80.17 crore.
• Oleofine Organics becomes subsidiary with effect from 9 Sept. 2026.
• Oleofine Organics reported FY26 turnover of Rs 54.17 crore.

JK Paper has completed the acquisition of the remaining stake in Radhesham Wellpack, making the company wholly owned.

JK Paper

• Acquires remaining 20% stake in Radhesham Wellpack for Rs 44.02 crore.
• Acquisition comprises 25,000 equity shares of Rs 100 each.
• Radhesham Wellpack becomes wholly owned subsidiary following the acquisition.

Gujarat Ambuja Exports is setting up a new corn wet milling facility in Hubli as it expands capacity.

Gujarat Ambuja Exports

• To set up 850 TPD greenfield corn wet milling unit for Rs 333 crore in Hubli.
• Hubli unit manufacturing capacity to increase to 1,600 TPD from 750 TPD.
• To increase corn wet milling capacity to 9,000 TPD by 2030.

Hindustan Zinc has entered a long-term transportation agreement covering electric trucks.

Hindustan Zinc

• Signs 6-year transportation pact with MFL India.
• Pact is for deployment of 30 electric trucks.

Gujarat Gas is seeing a sharp decline in Morbi region gas volumes amid a wide price gap between gas and propane.

Gujarat Gas

• Morbi region gas volumes have fallen to 0.8 mmscmd today.
• Fall in volumes owing to a price gap of more than Rs 20 between gas and propane.
• Gas volumes in the Morbi region in Q1FY27 stood at 5.67 mmscmd.
• mmscmd: million metric standard cubic meters per day.
• Source: Dealer Check.

IRB Infrastructure Developers reported higher toll revenue in August, supported by traffic growth and the FY27 tariff revision.

IRB Infrastructure Developers

• August toll revenue rises ~25% YoY to Rs 807 crore from Rs 646 crore.
• Management says traffic growth and FY27 tariff revision supported revenue growth.
• Expects positive traffic momentum to continue amid robust economic activity and festive season demand.

Northern Coalfields has reported a sharp improvement in production and dispatches as monsoon-related disruption eases.

Coal India

• Subsidiary Northern Coalfields' coal production up 67% and coal dispatches up 75% as on 8 Sept.
• FY27 coal production at 51.43 MT; coal supplies at 55 MT till 8 Sept.
• Around 87% of coal supplies directed to the power sector.
• Rake loading rises to 41 rakes on 8 Sept. from average 19 rakes during 1-3 Sept.
• Coal India's daily coal production up 40% to 1.91 MT on 8 Sept. from average 1.36 MT during 1-3 Sept.
• Coal India's daily power sector dispatches up 27% to 1.74 MT on 8 Sept. from average 1.37 MT during 1-3 Sept.

Shakti Pumps has reported a fresh solar pump order while promoter trust has also bought shares in the company.

Shakti Brothers Trust, promoter, bought 11,800 shares.

Six securities have been placed under the derivatives ban as the trading session begins.

Stocks under ban

• Bandhan Bank
• Inox Wind
• Kaynes Tech
• LIC Housing Finance
• Manappuram Finance
• SAIL

Morgan Stanley retained its Equal-weight view on Oil India while highlighting several potential earnings and cash flow drivers.

MS on Oil India

• Maintain Equal-weight.
• Target price at Rs 506.
• Believes the share price will rise over the next 30 days.
• Offers differentiated leverage to tight oil and fuel refining markets.
• Own crude usage in the refinery helps it to capture the integrated upside despite windfall taxes on fuel in India.
• Sees growing oil production in H2 and good progress on tripling of refinery capacity by 2027.
• Sees Oil India as a key global beneficiary of the refining golden age.
• Upcoming NRL capacity ramp-up should provide an additional leg of earnings and FCF growth in Q2.

Citi retained its Buy rating on Swiggy as it expects growth acceleration and improving contribution margins.

Citi on Swiggy

• Maintain Buy.
• Target price at Rs 390.
• Reiterated existing guidance of accelerating growth.
• Growth aided by step-up in new user acquisition and retention, dark store openings and differentiated selection.
• Existing guidance of 80bps contribution margins, likely from Q3, owing to domestic ownership.
• Sees food delivery as a value-play that is as much defensive versus new competition.

Jefferies expects competition in gold loans to increase as lenders accelerate branch expansion.

Jefferies on Gold Financiers

• Gold loan growth stays strong, but competition should rise as new players double branch additions in FY27.
• Bajaj Finance is driving 35% of the additions.
• New branches are mostly in non-south states and are also widening penetration.
• Incumbent gold NBFCs gain from execution and trust advantages and have widened product variants to defend share.
• Yield pressure has been limited.
• Gold prices remain the key swing factor.
• Retain Buy on Manappuram Finance and see balanced risk reward for Muthoot.

Citi retained its Sell rating on HCL Technologies, citing an unchanged demand environment and valuation concerns.

Citi on HCL Tech

• Maintain Sell.
• Target price at Rs 1,110.
• Demand environment remains largely unchanged; seasonality trends usual.
• Advanced AI new total addressable market; making good progress.
• Engineering services impacted by auto & telco verticals in Q1; should stabilise going forward.
• Software impacted by macro, decline in some parts of portfolio and shift towards term licences.
• Datacentre business – HCLT sees better value capture as a full stack player.
• Progress on advanced AI is encouraging, but HCL trades at decent premium to large cap peers.

CLSA retained its positive stance on Coforge and said the chairman's resignation does not constitute a red flag.

CLSA on Coforge

• Maintain High Conviction Outperform.
• Target price at Rs 2,170.
• Chairman resignation not a red flag.
• Several facts underscore no major governance lapses at Coforge.
• Notes proactive exchange filing by Coforge management.
• Coforge books are thoroughly scanned by current and previous private equity investors and KPMG.
• Number of independent directors has gone up since FY24.
• Sees strong growth ahead on the back of revenue synergies from Encora.

Jefferies retained its positive stance on Adani Energy Solutions as merchant power prices rise and trading tie-ups expand.

Jefferies on Adani Energy

• Maintain Buy.
• Target price at Rs 2,060.
• Increasing tie-ups in the trading segment are in line with management vision.
• Merchant power prices are up 2.1x YoY in Sept 2026 till date.
• Sees the company locked in for double-digit medium-term growth.

Jefferies expects Adani Enterprises to see an EBITDA inflection as its multiple growth platforms expand.

Jefferies on Adani Enterprises

• Maintain Buy.
• Target price at Rs 3,830.
• Calls the company a national champion with multiple growth platforms.
• Current value captures only part of the story.
• EBITDA inflection likely ahead, with an estimated 23% EBITDA CAGR over FY26-31.
• Airports, data centre and ANIL are the largest contributors.

Nomura has raised its target price on Ather Energy, citing the potential contribution from the Konarc launch and faster EV adoption.

Nomura on Ather Energy

• Maintain Buy.
• Target price raised to Rs 1,926 from Rs 1,714.
• Konarc launch to drive more upside.
• Faster EV adoption strengthens Ather's outlook.
• EV 2W expected to touch 22.0% by FY30F.

Jefferies has initiated coverage on Vodafone Idea with a positive view on its potential turnaround.

Jefferies on Vodafone Idea

• Initiate Buy.
• Target price at Rs 20.
• Sees a high-beta turnaround opportunity in Indian telecom.
• Expects subscriber stabilisation to support an 11% revenue CAGR over FY26-29.
• Strong operating leverage expected to drive a 25% cash EBITDA CAGR and a sharp ROIC inflection through FY31.
• Premium multiples expected to sustain during the turnaround.
• Every 10% tariff hike potentially driving 34% equity upside.
• Risks include execution and funding

Bernstein retained its positive view on Adani Ports, citing growth in power and container demand.

Bernstein on Adani Ports

• Maintain Outperform.
• Target price at Rs 1,973.
• Adani Ports is top pick in coverage.
• Rising power demand to increase coal demand, with Adani Ports a clear beneficiary.
• Sees the company as a structural winner in containers and dollar revenue.
• Notes Mundra port concession, AB Ports acquisition overhang and group health as risks that have been mitigated.

Natco Pharma has moved ahead with plans to raise capital through a proposed rights issue.

Natco Pharma

• Files draft letter of offer for proposed rights issue of equity shares.
• Proposed rights issue size up to Rs 1,300 crore.

Enviro Infra Engineers' subsidiary has received an LOI for EPC works on a 180 MW wind power project in Maharashtra.

Enviro Infra Engineers

• Subsidiary Suyog Urja receives LOI worth Rs 224.19 crore from Tata Power Renewable Energy.
• LOI awarded for EPC turnkey works for 180 MW NTPC wind power project at Parli, Maharashtra.
• Order to be executed by 31 Mar. 2027.
• Scope includes WTG foundation works, balance of plant works and 33 kV transmission line works.
• Project includes foundation works for 58 wind turbine generators.
• Also covers construction and commissioning of 33 kV transmission line and installation of STATCOM/harmonic filter systems.

Shakti Pumps has received a large Maharashtra order for off-grid solar photovoltaic water pumping systems.

Shakti Pumps

• Receives order from MSEDC for 10,000 off-grid solar photovoltaic water pumping systems.
• Empanelment covers 3 HP, 5 HP and 7.5 HP solar water pumps across Maharashtra.
• Order value at Rs 236 crore.
• Order to be executed within 60 days from issuance of work order/notice to proceed.
• Scope includes design, manufacture, supply, transport, installation, testing and commissioning of solar water pumping systems.

Dilip Buildcon has received a major long-duration project from the Petroleum and Natural Gas Regulatory Board.

Dilip Buildcon

• Order value at Rs 1,800 crore.
• Order is for laying an LPG pipeline.
• Execution period is 3 years.
• Operation period is 25 years.

The Dow fell more than 400 points, or 0.8%, on Wednesday. The S&P 500 declined 0.5%, while the Nasdaq Composite lost 0.6%.

Dow futures rose 0.1%, or 54 points, while S&P 500 futures gained 0.04%. Nasdaq-100 futures were marginally lower after Wall Street’s major indices declined for a third straight session.

Brent crude moved towards $102 a barrel, extending gains for a fifth straight session after settling above $100 for the first time since July. West Texas Intermediate traded near $97 a barrel.

Australia’s S&P/ASX 200 fell 1.38%, while Japan’s Nikkei 225 declined 0.71%. South Korea’s KOSPI slipped 0.50%.

Rising crude prices and escalating US-Iran tensions kept investors cautious.

GIFT Nifty fell 81.20 points to an implied 23,471, indicating a weak start for Indian equities on Thursday.

Apple announced the Watch Series 12, Watch Ultra 4 and AirPods 5. AirPods 5 will start at $129, while a model with longer battery life will cost $149.

The iPhone 18 Pro will launch on Sept. 18, with pre-orders opening on Sept. 12. Its starting price will be $100 higher than the iPhone 17 Pro.