Stock Market Highlights: Sensex Ends 243 Points Lower, Nifty 50 At 22,716; Consumer Durables, Realty Shares Top Drag

• Blue Star told NDTV Profit that the current round of price hikes is not sufficient to fully offset rising cost pressures.

• The company said the Indian rupee trading near 96 against the US dollar has added to input cost pressures.

• Blue Star said its margins came under significant pressure in Q1, adding that the full increase in costs has not yet been passed on to customers.

• The company noted that benefits under the Production-Linked Incentive (PLI) scheme are linked to incremental sales.

• Blue Star said both the company and the broader industry are currently navigating a challenging operating environment due to cost pressures.

• Mangalore Refinery & Petrochemicals Ltd. (MRPL) has received a first-time Long-Term Issuer Default Rating (IDR) of 'BBB-' from Fitch Ratings, according to Bloomberg.

• Fitch Ratings has assigned a Stable Outlook on the rating.

• Bondada Engineering has secured multiple orders worth Rs 147 crore.
• The orders are for the supply of telecom towers and Class-A items for solar power plants.

• Transport Corporation of India (TCI) has approved a share buyback of up to Rs 150 crore.

• The company will buy back up to 15.6 lakh equity shares at a price of Rs 960 per share.

• Oct. 9 has been fixed as the record date for determining shareholder eligibility for the buyback.

• The company said its promoters do not intend to participate in the buyback.

• Coal India has executed a Memorandum of Understanding (MoU) with Hindustan Urvarak & Rasayan Ltd. (HURL).
• The agreement is aimed at cooperation in the urea production segment.

• Arjun Sharma, Vice Chairman of Nexus Select Trust, said India currently has around 100-120 Grade A mall assets, highlighting the sizeable opportunity in the organised retail real estate market.

• The company said its portfolio is currently around 96% leased and expects continued demand from global brands entering India.

• Nexus Select Trust is targeting to double its portfolio over the next three to five years.

• On growth strategy, Sharma said the preference is to acquire ready-made assets, while the company has also made advance purchases of brownfield assets in Mumbai and Guwahati.

• The company is evaluating six to seven additional locations for brownfield expansion opportunities.

• Addressing concerns around e-commerce, Sharma said online retail is complementary to the mall business, noting that many digital-first brands are adopting hybrid online-offline models.

• He added that consumers increasingly research products online but continue to make purchases in physical stores, supporting long-term mall demand.

• MCX Silver December Futures fell 1% to Rs 2.25 lakh per kg.

• MCX Gold October Futures declined 0.2% to Rs 1.46 lakh per 10 grams.

• Precious metals traded lower amid broader volatility across commodity markets.

• AssetGro Fintech, the parent company of stock market research and advisory platform StockGro, has filed confidential pre-filed draft IPO papers with SEBI for a proposed public issue, PTI reported.

• According to market sources cited by PTI, the IPO size is expected to be in the range of Rs 2,000 crore to Rs 2,500 crore.

• The proposed offering may comprise a fresh issue of around Rs 800 crore along with an offer for sale (OFS) by existing shareholders.

• Under the confidential filing route, details related to the offer structure, financials, valuation and listing timeline are not disclosed publicly at this stage.

• The company said it has filed the pre-filed draft red herring prospectus (DRHP) with SEBI and stock exchanges for the proposed mainboard IPO, according to PTI.

• Systematix Institutional Research said Knowledge Marine & Engineering Works (KMEW) has materially upgraded its FY27 outlook and now expects more than 60% year-on-year revenue growth, compared with its earlier guidance of 30-40%, supported by strong dredging execution and a sizeable bid pipeline.

• The brokerage noted that KMEW delivered an exceptional ~63% operating margin in Q1 FY27, driven by execution of complex projects at JNPA and Pondicherry Port. However, management continues to guide for sustainable dredging margins of 35-40%.

• KMEW expects shipbuilding to emerge as the next growth engine, backed by a Rs 62.4 crore hybrid ferry order and the development of its Saphale Shipyard. Management expects the segment to contribute 40-45% of revenue over the next 2-3 years.

• The company recently completed a Rs 150 crore preferential issue, strengthening its balance sheet and supporting its ambition to achieve Rs 1,000 crore revenue by FY29.

• Management said it has submitted bids worth around Rs 3,500 crore, including Rs 1,200 crore in dredging and Rs 1,400 crore in shipbuilding, with initial outcomes expected over the next 30-45 days.

• KMEW's current order book stands at around Rs 1,300 crore, comprising dredging, charter & hire and shipbuilding contracts. The company expects around 83% of its Rs 240 crore dredging order book to be executed during FY27.

• Systematix does not have a rating on the stock.

• Infosys at 6 year low
• Infosys falls nearly 32% over a year
• Down 40% on YTD basis

• Around 28.8 lakh shares of State Bank of India (SBI) changed hands in a block trade.
• Details of the buyers, sellers and transaction value were not immediately available.

• Brent crude gained 0.9% to trade at $106.10 per barrel.

• Oil prices remained elevated amid ongoing concerns over global supply disruptions and geopolitical developments.

• The rise in crude prices comes at a time when markets are closely monitoring the potential impact of higher energy costs on inflation, currencies and global growth.

• Tata Communications has allotted commercial papers worth Rs 550 crore on Sept. 28.
• The company disclosed the allotment in exchange filings.
• The fundraising has been undertaken through the issuance of commercial papers.

Stock Market Live: Nuvoco Vistas In Focus

• Company To Buy 26% Stake In Clean Max's SPV  
• To Buy 26% Stake In Clean Max Ilgohp Pvt Ltd  
• To Set Up Renewable Energy Unit Via Acquisition  

• Sources told NDTV Profit that the Indian government is exploring alternate international air routes amid the continued closure of Pakistan's airspace since April 2025.

• Authorities are evaluating an air route over Bhutan as part of efforts to improve connectivity and reduce disruptions.

• India is also in discussions with China regarding access to airspace over the Xinjiang region.

• The Ministry of External Affairs (MEA) is engaged with its counterparts on the matter and discussions have been underway for more than a year, sources say.

• Pakistan's airspace has remained closed to Indian carriers since April 2025, prompting efforts to explore alternative routing options.

• Global Health has acquired a land parcel in Ghaziabad, Uttar Pradesh, for Rs 166 crore.

• The acquired land parcel measures 10,560 square metres.

• The company said the land has the potential for development of a 350-bed hospital.

• Rentomojo told NDTV Profit that it remains an operations-heavy company, with around 11 customer touchpoints across its business.

• The company said refurbishing is the core of its business model and added that around 56-60% of its operations are revenue-generating.

• Rentomojo said it will need to raise debt to support its business and growth plans.

• The company's current attrition rate stands at 22-23%.

• Management said occupancy remains a key metric and that it does not seek either very high or very low occupancy levels, instead targeting an 80-83% occupancy rate.

• Union Civil Aviation Minister Rammohan Naidu said India is expanding its global aviation engagement and aims to play a larger role in shaping the future of aviation across Asia and beyond.

• The minister said India's aviation market is large, young and growing rapidly, with the government currently building a new airport or terminal every 45 days.

• India aims to increase passenger traffic six-fold by 2047, while 66 airports are currently under development at various stages.

• Naidu said available seat kilometres (ASKs) are growing at a 7.3% CAGR and highlighted efforts to strengthen international connectivity.

• India has enhanced air service capacity with Azerbaijan, Uzbekistan, Indonesia and Vietnam, while also adding more points of call and expanding international connectivity beyond metro cities.

• The minister said India's international aviation market has grown 60% over the last decade.

• S&P Global Ratings said a potential Tata Sons listing may not have an immediate impact on its credit ratings, according to Bloomberg.

• The ratings agency said any listing-related developments and structural changes within the Tata Group could, however, influence the group's credit profile over time.

• S&P added that a listing and related changes may reshape the credit landscape of the Tata Group, Bloomberg reported.

• Vinay Rustagi of Premier Energies said the company's cell manufacturing capacity has expanded three-fold.

• The company said it has been able to mitigate part of the pressure arising from higher input costs and continues to work on reducing the impact of cost inflation.

• Metal and freight costs remain among the key challenges facing the industry, according to management.

• Premier Energies said demand and its order book remain strong, providing visibility for future growth.

• The company added that it sees significant opportunities for its new manufacturing plant going forward.

• Symbiotec Pharmalab has received an Establishment Inspection Report (EIR) from the US Food and Drug Administration (US FDA) for its Pithampur manufacturing unit.

• The US FDA has classified the Pithampur facility under Voluntary Action Indicated (VAI) status.

Varmora Granito Ltd. made a steady debut on the stock market, listing at a premium of 4% to its IPO price. The stock opened at Rs 155 on the NSE which is a 4.73% rise from the issue price of Rs 148. On the BSE, it began trading at Rs 152 per share which marks a 2.70% premium.

According to Shivani Nyati, Head of Wealth at Swastika Investmart, at around 60x post-listing P/E, the valuation of Varmora Granito shares remains demanding.

“Investors holding Varmora Granito shares can maintain a stop loss around Rs 145, while fresh positions may be considered only after better price discovery and sustained earnings performance,” said Nyati.

According to her, the key levels to watch are Rs 148–145 on the downside and Rs 155–160 on the upside.

• H.G. Infra Engineering said its subsidiary H.G. Gobindpur Tangi Highway has received a Letter of Financial Closure from the National Highways Authority of India (NHAI).

• The financial closure relates to a Rs 1,582 crore road project in Odisha.

• The company disclosed the development in an exchange filing.

• Jefferies has maintained its Buy rating on IndusInd Bank with a target price of Rs 1,250 per share.

• The brokerage said the bank's new management team is now in place and is focused on improving asset quality, lowering the cost of deposits and driving loan growth with a better portfolio mix.

• Jefferies expects these initiatives to support an improvement in return on assets (RoA) in FY27 and over the next two to three years.

• The brokerage said the shift to the Expected Credit Loss (ECL) framework could reduce the bank's capital base by around 100 basis points, though the impact on RoA is expected to be limited.

• Jefferies noted that a key risk remains the proposed reduction in bancassurance commissions.

• The brokerage added that improving RoA and reasonable valuations could support a re-rating of the stock.

• ICICI Lombard General Insurance has outlined its FY29 targets, aiming to grow 100-200 basis points faster than the industry.

• The insurer expects digital sourcing to increase by 2.5 times, while customer retention rates are targeted to improve by 5%.

• The company expects new product launches to contribute 3-5% of gross written premium (GWP) by FY29.

• ICICI Lombard is targeting more than 90% digital servicing, reflecting its focus on technology-led customer engagement.

• The insurer expects its return on equity (RoE) to remain in the 17-20% range through FY29, according to its investor presentation.

• Citi has upgraded Dr Reddy's Laboratories (DRL) to Buy from Sell and raised its target price to Rs 1,450 per share from Rs 1,040.

• The brokerage has also placed the stock on a 90-day positive catalyst watch.

• Citi said there are sufficient catalysts in place to support a recovery in the business following the gRevlimid patent cliff.

• The brokerage noted that a potential US launch of abatacept and the resumption of semaglutide supplies in Canada could add $350-400 million in incremental revenue over FY27-FY29E.

• Citi also highlighted improving growth across India, emerging markets and Europe, which is driving a more favourable business mix for the company.

• Axis Capital has initiated coverage on EIH with a Buy rating and a target price of Rs 385 per share.

• The brokerage said EIH owns several marquee hospitality assets across domestic and international markets.

• Axis Capital noted that the company's project pipeline is reviving after a period of stagnation, while growth is improving on the back of pipeline expansion and RevPAR outperformance.

• The brokerage believes EIH's valuations are attractive and are currently near 12-year lows.

• Axis Capital expects a re-rating of the stock, which could support medium-term returns.

• Kotak Institutional Equities has raised its FY27 Brent crude oil price assumption to $90 per barrel from $85 per barrel.

• The brokerage said the upstream oil and gas policy environment has never been better, supporting the outlook for exploration and production companies.

• Kotak continues to prefer ONGC over Oil India within the upstream space.

• The brokerage has maintained its Buy rating on ONGC with a fair value of Rs 355 per share.

• Kotak Institutional Equities has increased its fair value on Cyient DLM to Rs 1,740 from Rs 1,050, while maintaining a Sell rating.

• The brokerage has also raised its fair value on Avalon Technologies to Rs 770 from Rs 430, while reiterating a Sell rating.

• Kotak said a new opportunity is emerging in the semiconductor equipment segment and expects strong growth for both companies.

• The brokerage expects Cyient DLM and Avalon Technologies to see revenues quadruple over the next six years, implying a CAGR of more than 25%.

• Kotak noted that semiconductor-related opportunities and other new ventures are unlikely to contribute meaningfully to financial performance until FY29.

• The brokerage added that India's electronics manufacturing services (EMS) sector offers opportunities beyond semiconductor fabs and OSAT facilities, particularly in the components ecosystem.

• Nomura said most raw material prices, barring Brent crude and HDPE, have either remained range-bound or softened on a month-on-month basis in September.

• The brokerage said Marico is likely to be the least impacted among consumer companies from the current commodity cost environment.

• Godrej Consumer Products, Colgate-Palmolive India, Hindustan Unilever (HUL) and paint companies are expected to face the highest impact from raw material trends.

• Despite some moderation in select commodity prices, Nomura noted that input costs remain elevated on a quarter-on-quarter and year-on-year basis.

• The brokerage said commodity prices continue to remain materially above the product price hikes taken by consumer companies during Q1 FY27, keeping margin pressures in focus.

• Gurmeet Chadha, Founder of Complete Circle, told NDTV Profit that margin calls have been triggered in the market, with brokers seeking additional margin from investors.

• Chadha said foreign institutional investors (FIIs) have not generated meaningful returns in dollar terms from Indian markets in recent years.

• He noted that larger corporates are not taking sufficient risks, which could weigh on broader market growth prospects.

• Chadha said large-cap stocks may continue to face challenges going forward amid the current market environment.

• He added that investors are likely to be better served through stock-specific opportunities, with stock picking becoming increasingly important in the current phase of the market.

• India's benchmark 10-year government bond yield eased to 7.1584% in early trade from 7.1848% in the previous session, a decline of about 2.6 basis points.

• The benchmark 6.94% 2036 government security rose to Rs 98.49 from Rs 98.31 at the previous close, indicating improved demand for bonds.

• Bond prices gained even as the rupee weakened to a two-month low, amid elevated crude oil prices and rising US Treasury yields.

• Market participants are also tracking the RBI's Variable Rate Reverse Repo (VRRR) auction, with a poll cited by Informist pegging the expected cut-off rate at 5.24%.

• The easing in yields suggests some buying interest in government securities despite ongoing pressure from global macro factors and currency weakness.

• Pankaj Murarka told NDTV Profit that macro headwinds such as higher crude oil prices remain a concern for equity markets.

• Murarka said he expects the Nifty's losses to moderate by the end of the year, while noting that investors will closely track market moves following the US midterm elections amid signs of weakness in the US economy.

• He urged investors not to panic and to remain focused on the longer-term outlook.

• Murarka said India's medium- and long-term fundamentals remain strong and highlighted the presence of several durable growth opportunities across sectors.

• He expects better buying opportunities to emerge in the coming weeks and believes Indian equities could become more attractive next year.

• Varmora Granito made its stock market debut at Rs 155 per share on the NSE, compared with its issue price of Rs 148.

• The listing translates into a 4.7% premium over the IPO price.

• The stock's listing reflects investor response to the public issue on debut day.

• Selling pressure deepened across the market, with 46 of the 50 Nifty stocks trading in the red.

• Tata Motors and HDFC Life Insurance emerged as the biggest drags on the Nifty 50, while the only stocks trading in the green were from the pharma sector.

• The entire Nifty FMCG pack traded under pressure, with United Spirits among the worst performers, falling nearly 4%.

• The Nifty Midcap 150 extended losses and fell around 1%, slipping below its three-month low.

• The Nifty Smallcap 250 declined for a second consecutive session, with Ather Energy and CAMS among the top drags.

• Market volatility increased, with the India VIX rising more than 5%, reflecting heightened investor caution.

• UBS has maintained its Buy rating on Kalyan Jewellers with a target price of Rs 900 per share.

• The brokerage expects a stronger growth trajectory in the second half despite a high base.

• UBS said the impact of gold prices on demand and ticket sizes has varied across customer segments.

• The brokerage noted that Kalyan Jewellers will continue with its aggressive store expansion strategy.

• Management has indicated that 10% same-store sales growth (SSG) remains a manageable target for Q2-Q4.

• UBS said gold exchange volumes are likely to remain elevated, though management expects to maintain margins.

Stock Market Live: SMIDs declined sharply

-- Nifty Mid Cap 100 Index tumbled nearly 1%

--86 stocks were trading in the red zone 

--13 stocks were trading higher 

-- 1 stock remained unchanged 

-- PB Fintech was the top drag, down 5%

Stock Market Live: Barring Pharma, Healthcare indices, all sectors were trading in the negative territory.

-- Nifty Pharma was up 0.2% 

-- Nifty Healthcare index was up 0.10%.

Here are the gainers/losers within healthcare/pharma space: 

• Goldman Sachs (GS) has reiterated its Buy rating on InterGlobe Aviation (IndiGo) with a target price of Rs 5,900 per share.

• The brokerage said IndiGo's market share gains, from around 50% in FY20 to nearly 65% in August 2026, are sustainable.

• Goldman Sachs expects industry fleet additions to remain modest over the medium term, which should support airline yields.

• The brokerage said IndiGo's cost leadership is likely to drive further improvement in profitability.

• Goldman Sachs also sees a long runway for growth in the international business and expects a significant improvement in profitability in FY28.

• JP Morgan said Coforge has appointed Akhil Gupta as an Additional Director (Non-Executive Independent Director) and Chairperson of the company.

• The brokerage highlighted that Gupta is the former Vice Chairman of Bharti Enterprises and currently serves as Chairman of 360 One WAM and Bharti Life Insurance. He is also on the boards of Lodha Developers, Eutelsat Communications, Zepto and Snapdeal.

• JP Morgan noted that Gupta played a key role in Bharti's growth over the past three decades and brings significant leadership and governance experience.

• The brokerage said Coforge's board has been able to fill the chairperson position earlier than expected and believes the company could appoint another board member well within its guided three-month timeframe.

• JP Morgan said investor focus should now shift back to the company's core business performance, AI-related opportunities, Encora integration and execution of its five-year growth strategy.

• IRB Infrastructure Developers said IRB InvIT has concluded a fundraise worth Rs 2,351 crore.

• The InvIT raised Rs 2,000 crore through a Qualified Institutional Placement (QIP).

• The Indian rupee weakened past the 96-per-US dollar mark for the first time since Sept. 17.

• The currency touched its lowest level since July 24, 2026.

• The move comes amid continued pressure from elevated crude oil prices, a strong dollar and risk-off sentiment in global markets.

• Kotak Institutional Equities has maintained its Buy rating on Equitas Small Finance Bank with an unchanged fair value of Rs 95 per share.

• The brokerage said business momentum has picked up across segments, indicating improving operating trends.

• Kotak highlighted that asset quality trends remain encouraging, providing support to the bank's earnings outlook.

• The brokerage expects operating profitability to improve, driven by a favourable business mix and operating leverage.

• Kotak Institutional Equities added that the stock's current valuations offer further upside potential.

• Goldman Sachs has maintained its Buy rating on Eternal and raised its target price to Rs 385 from Rs 345 per share.

• The brokerage said Eternal remains one of its top picks in the Indian internet space despite the recent rally in the stock.

• Goldman Sachs sees increasing visibility on the company's $1 billion FY29 EBITDA guidance with each passing quarter.

• The brokerage highlighted early signs of market share gains in the food delivery business after several quarters of stable market share.

• Goldman Sachs also cited continued strength in Blinkit's growth and said there could be upside if the quick-commerce business delivers a three-year NOV CAGR of 60%, versus its estimate of 45%.

• The brokerage also highlighted optionality from newer businesses, including Going Out.

• Around 4.5 crore shares of Cube Highways Trust changed hands in a block deal on the BSE.
• The transaction was valued at approximately Rs 689 crore.
• The shares changed hands at Rs 153.30 per share.

 

• Around 40.6 lakh shares of Axiscades Technologies changed hands in a block deal on the NSE.
• The transaction was valued at approximately Rs 741 crore.

 

• Abizer Diwanji, Founder of NeoStrat, said any potential listing of Tata Sons may be evaluated from a commercial standpoint, but the broader strategic objectives of the Tata Group also need to be considered.

• Diwanji said Tata Trusts remains focused on preserving the group's ethos, while Tata Group's motivation is to operate as a purpose-first enterprise.

• He added that the group's business strategies are aimed at aligning with its long-term objectives and values.

• Diwanji noted that Tata Sons has historically functioned as an operating company rather than a services company.

• Peter McGuire of XM.com Australia said US equity markets are currently performing relatively better than Indian markets.

• McGuire said Indian equities could see some further softening amid elevated uncertainty and prevailing global headwinds.

• He noted that persistently high bond yields could prompt policy action from central banks.

• McGuire said shipping disruptions and inflationary pressures could deepen further, adding to market concerns.

• He added that uncertainty surrounding US-Iran discussions continues to influence Brent crude prices and said there are currently no concrete talks underway between the two countries.

• CLSA said the demand outlook for the Indian auto sector remains resilient, with management teams expecting the festive season (September-November) to deliver mid-to-high single-digit growth despite a high base last year.

• The brokerage said the festival season outlook has been supported by the GST rate cut, while industry players continue to report healthy demand trends.

• CLSA noted that raw material cost inflation is expected to pressure margins beyond the September quarter and could result in further price hikes across segments.

• The brokerage said entry-level vehicles continue to face challenges in passing on higher input costs to consumers.

• CLSA highlighted that the outlook for electric vehicles has improved across both the two-wheeler and passenger vehicle segments, aided by higher retail fuel prices and new product launches.

• The brokerage added that manufacturers are expanding capacity to cater to incremental demand.

• CLSA's preferred picks in the sector are Mahindra & Mahindra, Bajaj Auto and Ather Energy.

• JM Financial said its subsidiary has been allotted shares worth Rs 163 crore on a rights basis in JM Financial Credit Solutions.
• The capital infusion has been made through the allotment of equity shares under a rights issue.

• Motilal Oswal has initiated coverage on Aster DM Quality Care with a Buy rating and a target price of Rs 910.

• The brokerage said Aster DM is emerging as a large pan-India hospital platform following its merger with Quality Care India Ltd. (QCIL), with 39 hospitals and around 10,600 operational beds across 28 cities.

• Motilal Oswal highlighted the company's diversified hospital network, expansion pipeline and potential procurement, clinical and cross-cluster synergies from the merger as key growth drivers. The company is targeting more than 15,000 beds by FY30.

• The brokerage expects revenue, EBITDA and PAT to grow at a CAGR of 19.5%, 25% and 33%, respectively, over FY26-FY28, reaching Rs 132 billion, Rs 30.7 billion and Rs 16.5 billion.

• Motilal Oswal said improving scale, strong earnings growth and synergy-led margin expansion support its positive stance on the stock.

• A subsidiary of Tata Motors has acquired a 26% stake in Mateshwari E-Smart Mobility.
• The stake acquisition has been completed for a consideration of Rs 2.6 lakh.

• Morgan Stanley said industrial activity improved in August, reversing the monsoon-related softness seen in July.

• Within manufacturing, 18 of 23 industry groups recorded positive growth, led by electrical equipment, motor vehicles, trailers, and other transport equipment.

• The brokerage said other high-frequency indicators, including industry credit growth, capital goods activity, and infrastructure-related indicators, continue to remain resilient.

• Morgan Stanley expects private capital expenditure to gather pace in the coming quarters, supported by resilient domestic demand, improving capacity utilisation, and continued policy support.

• The brokerage said the August IIP data points to an improvement in the underlying industrial growth trend.

• Anthropic reported that its revenue grew nearly 12-fold to about $4.6 billion in 2025, according to Reuters, citing the company's IPO prospectus.

• The AI company reported a loss of $42 billion in 2025, Reuters said, citing details disclosed in the prospectus.

• Anthropic has outlined a spending target of $518 billion over the coming years, according to the Reuters report.

• The disclosures highlight the scale of investment and cash requirements associated with the development of advanced artificial intelligence models and infrastructure.

• ITC has completed the acquisition of 13,445 shares of Sproutlife Foods for Rs 645 crore.
• The company disclosed the completion of the transaction in an exchange filing.
• The acquisition marks the completion of ITC's investment in Sproutlife Foods.

• HSBC has maintained a Reduce rating on Ola Electric with a target price of Rs 24 per share.

• The brokerage noted that the company is accelerating battery manufacturing and localisation efforts.

• HSBC said Ola Electric expects battery yields to improve to 90% from 70% over the next six to nine months.

• The brokerage said the company's Futurefactory demonstrates automation and vertical integration, supporting management's expectations of improved operating margins.

• HSBC added that the rebuilding of the brand image and management's ability to deliver on commitments remain key factors to monitor.

• JSW Energy has approved the allotment of non-convertible debentures (NCDs) worth Rs 500 crore.
• The allotment was approved by the company and disclosed in an exchange filing.
• The fundraising has been undertaken through the issuance of NCDs.

• BNP Paribas has maintained a Neutral rating on JSW Energy with a target price of Rs 600 per share.

• The brokerage said recent capacity additions are in line with its estimates and remain a key positive for the company.

• JSW Energy has added 1.6 GW of capacity so far this financial year, including 300 MW of inorganic thermal capacity.

• BNP Paribas highlighted potential execution risks due to a significant order pipeline, including projects related to the Toshiba joint venture.

• The company has ordered turbine generators for the entire 3.2 GW capacity under development.

• Jefferies said the Ministry of Power has directed 112 captive thermal power plants to operate at maximum capacity between Oct. 1 and Dec. 31, 2026, under emergency provisions of Section 11.
   
• The move is aimed at meeting an expected rise in power demand during the period.
   
• The brokerage noted that coal inventory at thermal plants has fallen to around seven days, with the government also considering mandatory blending of imported coal to support supplies.
   
• Jefferies remains constructive on the power sector and names Adani Energy Solutions, JSW Energy and NTPC as its top picks.

• Jefferies said premiumisation and technology adoption are emerging as key growth drivers in India's fan industry.
   
• The brokerage expects the overall fan market to grow at a 10% CAGR between FY26 and FY31, despite high penetration levels.
   
• Premium fans and BLDC (Brushless Direct Current) fans are expected to be the fastest-growing segments, with projected growth rates of 18% and 30%, respectively.
   
• Jefferies said Crompton expects premium fans to contribute 30% of sales by FY31, compared with 25% in FY26.
   
• The brokerage noted that BLDC fans accounted for around 40% of Havells' ceiling fan portfolio in FY26, while fans contribute about 70% of Orient Electric's Electronic Control Device segment revenue

• JP Morgan said management commentary across the consumer staples sector is turning more cautious as inflationary pressures rise.
   
• The brokerage said Q2 volume trends remain healthy, but risks are building for the second half of the year.
   
• JP Morgan expects margin visibility to weaken as companies prioritise volumes and market share.
   
• The brokerage sees a risk of earnings downgrades if commodity inflation remains elevated.
   
• Tata Consumer Products and Marico are JP Morgan's preferred picks in the sector.

• BLS International said its subsidiary Atyati Technologies has entered into an agreement with TVAM Technologies.

• The agreement is for the sale of Atyati Technologies' Joint Liability Group (JLG)-based financial lending business.

• The transaction will be executed for a consideration of Rs 59.5 lakh.

Stock Market Live: US Markets Settle In Red

-- Dow Jones fell 0.67%

-- S&P 500 dropped 0.77%

-- Nasdaq closed 0.92% lower

Stock Market Live: Asian markets were trading mixed. Last checked, ASX 200 was up 0.19%, while Nikkei was down 1.05%.

Good Morning, Readers! Welcome to our live coverage of the stock market. Stay tuned as we track the latest market developments, key global cues, sectoral trends, stock-specific action and all the major updates through the trading session.