Good Morning!
GIFT Nifty Check
The GIFT Nifty pointed to a potentially negative open for the benchmark ahead of the opening bell on Monday. The early market indicator traded 0.22% lower at 23,137 as of 6:55 a.m.
Asian Market Check
Asian markets traded mixed on Monday, as crude oil prices rose amid uncertainty over the end to the US-Iran war in the Middle East. MSCI's gauge of Asian stocks declined, with South Korea's Kospi benchmark falling over 1% as markets reopened after a holiday, while Japanese shares advanced.
Japan's Nikkei 225 rose 0.75% while the Topix gained 0.58%. South Korea's Kospi dropped 1.07%, while the Kosdaq rallied 1.62%. Hong Kong Hang Seng index futures indicated a lower opening.
Commodity Check
Oil prices climbed more than 1% in early Asian trading on Monday after US President Donald Trump rejected Iran's latest peace proposal, raising fresh uncertainty over the conflict and the reopening of the strategically important Strait of Hormuz.
At the latest check, Brent crude oil was trading 0.80% higher at $98.22 a barrel. Oil prices had fallen sharply last week as Washington and Tehran held discussions on the sidelines of the United Nations General Assembly in New York.
Stock Market Recap
The Nifty 50 settled at 23,140, up 0.34%, while the Sensex ended at 73,895, up 0.43%. The Nifty Bank gained 141 points to 55,580, while the Nifty Midcap 150 gained 15 points to settle at 22,470.
Gains in Nifty were led by Axis Bank and Asian Paints, which rose 3% and 2%, respectively. Broad-based indices underperformed the benchmark, with the Nifty Midcap 150 declining 0.15%, marking its second consecutive session of losses. Fortis Healthcare and JK Cement were the top losers, falling 4.5% and 3.5%, respectively.
US Market Recap
US stocks were in green after the opening bell on Friday as oil prices dipped amid optimism over a possible reopening of the Strait of Hormuz, while Treasury yields fell.
The gains were led Dow Jones Insutrial Average, up 0.26% at 51,482.7, Nasdaq Composite rose 0.13% at 26,973.28, while S&P 500 jumped 0.12% to 7,713.5. The indices ended on a positive note, with Dow up 0.93%, S&P 500 up 0.51%, and Nasdaq up 0.48%.
Stocks To Watch
- Jyoti CNC Automation: Fire incident occurred at a coating facility in Rajkot on Saturday morning. Operations resumed as normal without human casualties or material financial loss.
- Raghav Productivity Enhancers: Company formed an 80:20 joint venture named RPEL TRLK Silicatech with TRL Krosaki Refractories in Odisha.
- Life Insurance Corporation of India: Government approved the voluntary retirement of Managing Director Dinesh Pant, who ceased to be MD effective Sept. 24.
- Rashtriya Chemicals and Fertilizers: Shareholders approved the appointment of Shivakumar Subramaniam as Chairman and Managing Director, and approved fundraising of up to Rs 1,500 crore via a further public offer of equity shares.
- Tata Power: Government extended the validity of directions issued under Section 11 for the Mundra Thermal Plant until Dec. 31.
- Augmont Enterprises: National Stock Exchange empaneled the company as a key partner for the promotion of Electronic Gold Receipts.
- Zydus Lifesciences: US FDA conducted an onsite inspection of the company's pharmacovigilance and post-marketing surveillance system at its US office from Sept. 22 to Sept. 25 with nil observations.
- Aster DM Healthcare: Shareholders approved the appointment of Varun Shadilal Khanna as Managing Director and Group Chief Executive Officer.
- LCC Projects: Received two letters of intent worth Rs 70.35 crore from Reliance Industries for civil works of a 400kV Main Pooling GIS Substation at Kutch, Gujarat.
- Adani Enterprises: Arm Adani Global acquired a 50% stake in Monvarex Aluminium Holding RSC from Monvarex Holding RSC for $25,000.
- RPG Life Sciences: Arm RPG Active Pharma approved its merger with Actis Generics.
- TVS Motor: Launched the TVS Ntorq 150 in Nepal at an introductory price of Rs 3.7 lakh.
- NTPC Green Energy: Arm commenced commercial operations of the first part (81.34 MW capacity) of its 650 MW Bikaner project.
- Godrej Consumer Products: Promoters Nadir Godrej, Tanya Dubash, Nisaba Godrej and Pirojsha Adi Godrej acquired 1.02 crore shares (1% stake) via a block deal on Sept. 24.
- Unichem Laboratories: US FDA concluded an inspection at the company's Goa facility with five observations.
- Cupid: To convert up to 30 lakh warrants into Baazar Style Retail shares.
- Chemplast Sanmar: Restarted operations at its Puducherry EDC plant after authorities revoked the shutdown order.
- Parag Milk Foods: Sixth Sense India Opportunities III sold a 2.4% stake via the open market between Nov. 19, 2025, and Sept. 23, 2026, reducing its holding to 2.7% from 5.1%.
- Sandur Manganese & Iron Ores: Incorporated a wholly owned subsidiary, Royal Sandur MedTech, for medical devices and consumables manufacturing.
- Power Grid Corporation of India: Received a letter of intent to establish an inter-state transmission system with annual transmission charges of Rs 431 crore. Board also approved raising up to Rs 10,000 crore via an unsecured rupee term loan or line of credit from State Bank of India.
- Dr Lal PathLabs: Arm completed the acquisition of an 80% stake in Ghana step-down subsidiary Sunshine Healthcare.
- Ashoka Buildcon: Shareholders approved the redesignation of Ashish Kataria and Sanjay Londhe as Joint Managing Directors.
- Kapston Services: Promoter Srikanth Kodali sold a 4% stake via the open market on Sept. 25, reducing his holding to 67% from 71%.
- Bharat Coking Coal: Allowed the sale of washed coking coal from washeries under the CIL E-Auction Scheme at a price 5% above the import parity price.
- Oswal Pumps: Shareholders approved the re-appointment of Vivek Gupta as Chairman and Managing Director.
- Som Distilleries & Breweries: Madhya Pradesh High Court directed the renewal of the company's manufacturing licences within 15 days and awarded Rs 1 lakh in costs payable by the Madhya Pradesh government.
- REC: Arm REC Power Development and Consultancy sold its entire stake in Ranipur Chunar to HG Infra Engineering.
- Aarti Drugs: Shareholders approved the appointment of Adhish Prakash Patil as Managing Director effective Oct. 1, and the re-appointment of Harshit Manilal Savla as Joint Managing Director for five years effective June 1, 2027.
- South Indian Bank: United Forum of Bank Unions proposed a strike from Sept. 28 to Sept. 30. Branch functioning may be affected.
- KPI Green Energy: Arm Sun Drops Energia completed the acquisition of a 62.9% stake in DEK and Mavericks Green Energy.
- Baazar Style Retail: Approved the allotment of 10 lakh shares at Rs 328.25 per share pursuant to the conversion of warrants.
- Samvardhana Motherson International: Issued commercial paper worth Rs 300 crore.
- RailTel Corporation of India: Received a letter of acceptance worth Rs 21.6 crore from Central Mine Planning & Design Institute for MPLS VPN connectivity and TPaaS services.
- V-Guard Industries: Appointed Managing Director Mithun Chittilappilly as Chairperson effective Sept. 27, following the retirement of Radha Unni.
- Cupid: Promoter Aditya Kumar Halwasiya acquired 1.62 lakh shares, raising his holding to 47.62%.
- PNC Infratech: CARE Ratings upgraded or reviewed the company's Rs 1,700 crore long-term and Rs 5,000 crore short-term bank facilities.
- Sapphire Foods India: Received a show cause notice of Rs 20 crore from the Deputy Commissioner, Bengaluru, regarding incorrect availment of input tax credit and short payment of tax.
- NMDC: Commissioned a 2 MTPA pellet plant in Chhattisgarh as part of a Rs 5,427 crore integrated project.
- Morepen Laboratories: Shareholders approved the re-appointment of Sushil Suri as Chairman and Managing Director.
- D. P. Abhushan: Shareholders approved the proposal to consider the re-appointment of Santosh Kataria as Chairman and Managing Director.
- Silver Touch Technologies: Received a purchase order from the government to supply and install high-end workstations.
- Sanofi India: Received a tax order of Rs 24 crore from Karnataka authorities.
- Manoj Vaibhav Gems N Jewellers: Shareholders approved the re-appointment of Bharata Mallika Ratna Kumari Grandhi as Chairperson and Managing Director.
- Sun Pharmaceutical Industries: Received shareholder approval for the reclassification of shareholder category.
- Delta Corp: Received a GST demand of Rs 116 crore from the Goa CGST Commissionerate.
- Jain Irrigation: Company repaid Rs 246.72 crore debt due until Sept. 30. NCD and term-loan obligations were fully discharged before due dates.
- Indian Overseas Bank: United Forum of Bank Unions proposed a strike from Sept. 28 to Sept. 30. Branch functioning may be affected.
- Signature Global: Company acquired a 194.22-acre land parcel in Gurugram, adding 6.77 million square feet of developable area to its pipeline. Project has an estimated gross development value of Rs 5,500 crore to Rs 6,000 crore.
- Ceigall India: Company created security for a term loan of its arm Ceigall Sahebganj and will invest an additional Rs 62 crore in the project SPV.
- HLE Glascoat: Appointed Amit Kalra as Chief Financial Officer.
- AGI Infra: Board approved raising up to Rs 275 crore via QIP.
- SAIL & BCCL: Companies signed a pact to boost domestic coking coal production.
- Star Cement: Re-appointed Prem Kumar Bhajanka as Vice Chair and Managing Director for three years. Re-appointed Sajjan Bhajanka as Chairman and Managing Director for three years.
- Paytm: Completed an additional investment of Rs 100 crore in its arm Paytm Money via a rights issue.
- Sedemac Mechatronics: Commenced limited commercial production at its manufacturing facility in Pune.
- Indian Energy Exchange: Submitted an application to the Coal Controller's Organisation seeking a license to operate as a Coal Exchange.
- PC Jeweller: Achieved debt-free status after discharging outstanding debt across all 14 lender banks.
- Religare Enterprises: Shareholders approved the redesignation of Arjun Lamba as Managing Director effective Aug. 12, 2026.
- Dredging Corporation of India: Company plans to add 11 new dredgers over the next five years at a capex of around Rs 3,560 crore, with Dredge Godavari expected to join the fleet in FY27. Management is considering a Rs 1,000 crore rights issue to expand its fleet and focus on securing 5-to-10-year contracts to improve revenue visibility.
- Lumax Auto Technologies: Satish Sundaresan resigned as Chief Technology Officer.
- Usha Martin: Executed a business transfer agreement to sell the business undertaking of U M Cables to R R Kabel.
- Utkarsh Small Finance Bank: Allotted NCDs worth Rs 300 crore on a private placement basis.
- Jana Small Finance Bank: Company clarified that it evaluates opportunities in the ordinary course of business and has no unannounced material information.
- PVR Inox: Opened a new five-screen multiplex at MyMoon in Kochi, Kerala.
- Edelweiss Financial Services: Completed a 45% stake sale in Nido as buyers invested over Rs 2,000 crore to take their holding to 58.26%, which will rise to 72.70% in 18 months.
- Suraj Estate Developers: Arm completed the acquisition of development rights for 2,941 square metres of land in Mumbai for Rs 82.72 crore. The project has an estimated gross development value of Rs 800 crore.
- Baazar Style Retail: Opened a new store in Siliguri, taking its total store count to 283.
- Avenue Supermarts: Opened three new stores in Nagpur, Punjab and Bengaluru, taking its total store count to 518.
- Adani Energy Solutions: Incorporated eight new wholly owned subsidiaries to transmit and distribute electricity.
- Aequs: Board approved the issue of 2.8 crore warrants convertible into equity shares worth Rs 650 crore to promoter entity Mellwood Trustee Services, with 50% (Rs 325 crore) payable upfront. Promoter stake will increase to 60.73% from 59.09% upon full conversion.
- Sunteck Realty: Received a Rs 59 crore tax order from the GST Department.
- Federal Bank: Bank clarified that no material event exists regarding reported transactions with Jana Small Finance Bank.
- Omaxe: SEBI barred the company from accessing securities markets for three months and imposed a penalty of Rs 27 lakh over alleged non-compliance with minimum public shareholding norms. Promoters Rohtaas Goel, Sunil Goel and Jai Bhagwan Goel were barred for one year and penalized Rs 37 lakh each.
- GOCL Corporation: NCLAT set aside an NCLT order and revived the GOCL-HNPCL merger scheme process, stating that issues raised by NCLT were premature at the first-motion stage.
- Prestige Estates Projects: Subsidiary Prestige Hospitality Ventures withdrew its DRHP, though a future IPO filing may be considered. Separately, the company issued a corporate guarantee of up to Rs 750 crore for a loan taken by its subsidiary from ICICI Bank.
- Kansai Nerolac Paints: NCLT sanctioned the scheme of amalgamation of Nerofix Private with the company.
- Lemon Tree Hotels: Opened a 71-room resort in Nashik.
- BGR Energy Systems: Signed a restructuring proposal as per the sanction letter issued by IDRCL.
- Dhanuka Agritech: Launched fungicide 'Fujita' and adjuvant 'Wetcit Neo' in India.
- Siemens: NCLT cleared the reduction of a 0.78% stake in C&S Electric. C&S Electric will become a wholly owned subsidiary as Siemens nears full control from its current 99.22% holding.
- Indian Bank: Government extended Executive Director Shiv Bajrang Singh's tenure to Feb. 28, 2027.
- Kotak Mahindra Bank: Boards of subsidiaries KMIL and KAAML approved a scheme of amalgamation.
- Rashtriya Chemicals and Fertilizers: Issued a purchase order worth Rs 797 crore to Larsen and Toubro for the supply and revamp of an ammonia plant.
- Wheels India: Closed its QIP issue after allotting 12 lakh shares at Rs 2,088 per share.
- Borosil: DGTR issued positive final findings concluding that dumped imports from China materially retarded the domestic industry, recommending anti-dumping duty. Final notification from the Central Government is awaited.
- Aditya Infotech: Closed its QIP issue after allotting 43.3 lakh shares at Rs 3,467 per share.
Board Meetings
To decide on fundraising:
Sept. 26
Power Grid Corporation of India
Sept. 28
Aegis Logistics
Ola Electric Mobility
Shares To Exit Lock-In
- HYTech Engineers: 40 lakh shares (4% of outstanding shares), 1-month lock-in.
- Skyways Air Services: 60 lakh shares (4% of outstanding shares), 1-month lock-in.
- Symbiotec Pharmalab: 30 lakh shares (4% of outstanding shares), 1-month lock-in.
- Augmont Enterprises: 20 lakh shares (2% of outstanding shares), 1-month lock-in.
- CSM Tech: 10 lakh shares (2% of outstanding shares), 3-month lock-in.
- Advit Jewels: 20 lakh shares (4% of outstanding shares), 3-month lock-in.
- Waterways Leisure Tourism: 20 lakh shares (2% of outstanding shares), 3-month lock-in.
- Rajputana Stainless: 4.6 crore shares (55% of outstanding shares), 6-month lock-in.
- Saatvik Green Energy: 5.7 crore shares (45% of outstanding shares), 6-month lock-in.
IPO Openings
SRIT India (FY26 YoY)
- Revenue up 15.5% to Rs 462.54 crore versus Rs 400.50 crore.
- Ebitda up 30.0% to Rs 64.77 crore versus Rs 49.81 crore.
- Net profit up 28.8% to Rs 43.29 crore versus Rs 33.60 crore.
Shah Investor's Home (FY26 YoY)
- Revenue down 23.4% to Rs 72.40 crore versus Rs 94.47 crore.
- Ebitda down 38.8% to Rs 21.62 crore versus Rs 35.31 crore.
- Net profit down 44.0% to Rs 13.11 crore versus Rs 23.42 crore.
AGM/EGM
Sept. 26, 2026
Power Grid Corporation of India
Sept. 28, 2026
Aegis Logistics
Ola Electric Mobility
Prasol Chemicals
Deepa Jewellers
BN Agrochem
From News Agencies/PTI
- Tata Motors Passenger Vehicles Managing Director Shailesh Chandra said the company is considering further price increases as rising commodity costs pressure margins.
- Vodafone Idea announced a free international roaming offer across select postpaid, prepaid and enterprise plans.
- Foreign direct investment into India rose 6% to $19.81 billion in April-June, according to data from the Department for Promotion of Industry and Internal Trade. Inflows from the US fell by 76%.
Bulk/Block Deals
Adani Enterprises
- Adani Properties bought 51.50 lakh shares at Rs 2,905/share.
- Adani Infra (India) bought 34.50 lakh shares at Rs 2,905/share.
- Infinite Trade and Investment sold 86 lakh shares at Rs 2,905/share.
Dalmia Bharat
- Dalmia Bharat Refractories bought 10.84 lakh shares at Rs 1,700/share.
- Keshav Power sold 7.27 lakh shares at Rs 1,700/share.
- Rama Investment Company sold 3.57 lakh shares at Rs 1,700/share.
Hero Motors
- Plutus Wealth Management LLP bought 46.79 lakh shares at Rs 137.14/share.
- Mansi Share and Stock Broking sold 8.98 lakh shares at Rs 139.87/share.
- Yuga Stocks and Commodities sold 5 lakh shares at Rs 138.15/share.
- Setu Securities sold 3 lakh shares at Rs 141.20/share.
Kapston Services
- Srikanth Kodali sold 12 lakh shares at Rs 567.53/share.
- Kalyan Ram Nandamuri bought 2.50 lakh shares at Rs 570/share.
- Swathi Nandamuri bought 2.50 lakh shares at Rs 566.81/share.
- Eswara Narayana Kosaraju bought 2.50 lakh shares at Rs 566.80/share.
- Hari Krishna Kosaraju bought 2.50 lakh shares at Rs 556.64/share.
M.V.K. Agro Food Product
- Hetal Abhishek Kamdar sold 7.62 lakh shares at Rs 230.90/share.
- Astron Developers bought 4.57 lakh shares at Rs 230.90/share.
PB Fintech
- Sixteenth Street Asian Gems Fund sold 25.67 lakh shares at Rs 1,167.13/share.
Whirlpool of India
- HRTI bought 41,771 shares at Rs 920.18/share.
- QE Securities LLP bought 19,011 shares at Rs 923.60/share.
Bombay Burmah Trading Corporation
- Nowrosjee Wadia and Sons bought 16.10 lakh shares at Rs 1,400/share.
- Wadia Nusli Neville sold 16.10 lakh shares at Rs 1,400/share.
Enviro Infra Engineers
- Acme Capital Market sold 73,200 shares at Rs 102.36/share.
- Vikasa India EIF I Fund - Share Class N bought 82,800 shares at Rs 102.42/share.
Insider Trading
Alembic: Promoter group Nirayu Private Limited bought 1.67 lakh shares.
SAR Auto Products: Promoter and Director Shreyas Rameshbhai Virani sold 1,315 shares.
Trualt Bioenergy: Promoter group Nirani Holdings Private Limited bought 1.52 lakh shares.
Aarti Pharmalabs: Promoter group entity Arti Rajendra Gogri sold 1.33 lakh shares, promoter Relacion Trusteeship Services sold 3.80 lakh shares, promoter group entity Gloire Trusteeship Services sold 3.97 lakh shares, and promoter Rajendra Vallabhaji Gogri sold 3.88 lakh shares.
NRB Bearings: Promoter Harshbeena Zaveri sold 18,450 shares.
Trading Tweaks
Price band revised from 20% to 10%: Hero Motors, Protean eGov Technologies, Turtlemint Fintech Solutions.
Securities shortlisted under Short-Term ASM: Capillary Technologies India, Delta Corp, Frontier Springs, Lalithaa Jewellery Mart, Panorama Studios International, PB Fintech.
Securities excluded from ASM: Anlon Healthcare, eMudhra, TVS Srichakra.
F&O Cues
Nifty September futures up 0.35% at 23,190.00, trading at a premium of 50 points.
Maximum Call open interest at 24,000.
Maximum Put open interest at 23,000.
Securities in ban period: Kaynes Technology, LIC Housing Finance, Manappuram Finance, SAIL.
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