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US Market Wrap
Stocks and bonds both declined despite a pullback in oil prices, as investors remained concerned that elevated energy costs could keep inflation under pressure and prompt further interest rate hikes by the US Federal Reserve. Those worries pushed 30-year Treasury yields to their highest level since 2002. Most S&P 500 companies ended lower, resulting in a second straight decline for the benchmark index, while the dollar strengthened and the euro slipped to a 16-month low.
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By the close in New York, the S&P 500 fell 0.2%, the Dow Jones Industrial Average lost 0.3%, while the Nasdaq 100 edged up 0.2%, according to Bloomberg.
Asian Market Wrap
Asian stocks rose for the first time in three sessions, led by gains in technology shares, while investors kept a close watch on bonds ahead of a key US inflation report. The MSCI Asia Pacific Index advanced 0.6%, with markets in Japan and South Korea posting gains. Sentiment was supported by strength in a key US semiconductor gauge and after President Donald Trump rejected regulations on artificial intelligence. In China, fresh measures including mortgage subsidies and adjustments to bank lending policies signalled renewed efforts to support an economy showing signs of slowing.
Hong Kong's Hang Seng futures slipped 0.3%, while Japan's Topix climbed 0.9%, according to Bloomberg.
Indian Stock Market Recap
Indian benchmark indices, Sensex and Nifty 50, ended lower on Tuesday, led by weakness in consumer Durables, Realty and IT shares. That said, Nifty 50 ended at 22,716.20 levels, down 64.05 points or 0.28%. On the othe hand, BSE Sensex settled at 72,529.07, down 242.65 points or 0.33%.
Stocks In News
- Pidilite Industries: The company's arm will transfer its entire stake in Finemake Technologies to the founders of Finemake.
- Thomas Cook India: Arm Sterling Holiday Resorts opens a 33-room hotel in Varanasi.
- Kalpataru Projects International: Delhi High Court upholds the arbitral award; the JV company plans to file a petition against the High Court order.
- Tube Investments of India: The company and its arm enter into a subscription agreement for preference shares worth Rs. 250 crore.
- STL Networks: Emerges as L1 bidder for a Rs. 250 crore order from RailTel for cloud infrastructure deployment at RailTel data centres.
- Bharat Parenterals: Approves fundraising of Rs. 139 crore through preferential allotment of 9.1 lakh shares at Rs. 1,522.85 per share.
- Godawari Power & Ispat: Invests Rs. 50 crore in subsidiary Godawari New Energy.
- Advit Jewels: Shareholders approve appointment of Abhishek Gilara as Joint Managing Director for five years.
- Tata Steel: Wins FY09 tax case on interest deduction, reducing tax liability by Rs. 427 crore to Rs. 1,259 crore from Rs. 1,686 crore.
- Prestige Estates Projects: Completes two residential developments in Hyderabad.
- Navin Fluorine International: Arm Navin Fluorine Advanced Sciences commissions debottlenecking capacity at its Dahej facility.
- Graphite India: The US Department of Commerce issues a preliminary determination in the anti-dumping duty investigation, announcing a preliminary dumping margin of 12.22%; financial impact remains unascertainable at this stage.
- Dr Agarwal's Health Care: Orbit Healthcare Services Nigeria becomes a wholly owned subsidiary of Orbit Mauritius.
- Ramco Cements: The company increases clinker capacity to 5.62 MTPA and cement grinding capacity to 4.38 MTPA following plant debottlenecking.
- Endurance Technologies: Arm EOSpA enters into an agreement to acquire the remaining 32% stake in Stoferle's German businesses for EUR 18 million.
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- Punjab & Sind Bank: Approves raising up to USD 1 billion through FCCBs under its Medium-Term Note Programme.
- Arisinfra Solutions: Arm ArisUnitern RE Solutions secures a Mumbai project with an estimated GDV of Rs. 400 crore.
- Exide Industries: Invests nearly Rs. 100 crore in subsidiary Exide Energy Solutions.
- Cosmo First: Enters into a business transfer agreement to acquire veterinary clinic Prolife Speciality Vet Clinic LLP, strengthening its petcare business.
- NLC India: The company will incorporate a joint venture with NALCO to develop a 1,080 MW thermal power plant, with both partners holding 50% stake each.
- Bluspring Enterprises: The company approves the amalgamation of Bluspring New Horizon Two with LSG Sky Chefs.
- Allcargo Logistics: The company appoints Vijay Nehra as Chief Transformation Officer and MD-Designate from October 1.
- GSPL Transmission: The demerged entity will list on September 30, 2026 under the symbol GSPLTRANS with 312.7 million shares.
- Power Mech Projects: The company receives a Rs. 549 crore order from Adani Group's Moxie Power for a contract period of 60 months.
- Jyothy Labs: The company receives insurance claim settlement for the warehouse fire incident; assessed damage stood at Rs. 7.33 crore.
- Tata Steel: The company acquires 393 crore shares of TSHP for Rs. 3,260 crore; TSHP continues to remain a subsidiary.
- Dixon Technologies: Shareholders approve the reappointment of Sunil Vachani as Whole-Time Director and Atul B. Lall as MD for five years from May 5.
- JNK India: The company secures two orders worth up to Rs. 100 crore from an Indian customer for supply and services of flare packages.
- Britannia Industries: Re-designates N. Venkataraman as Deputy Managing Director from October 1 and appoints Ramamurthy Jayaraman as Chief Financial Officer from October 1.
- United Breweries (UBL): Receives an aggregate income tax demand of Rs. 55 crore.
- Anlon Healthcare: Board to meet on October 13 to consider fundraising proposals.
- L&T Finance: Allots NCDs worth Rs. 52 crore.
- Deepak Nitrite: Arm commissions manufacturing operations at its Chlorination & Specialty Chemicals plant in Gujarat; total capex incurred stands at approximately Rs. 300 crore.
- GMR Airports: Allots 10.2 crore equity shares upon OCRPS conversion; conversion adds 0.96% to the company's equity capital.
- Roto Pumps: Launches ‘HYGENIX', a next-generation hygienic food pumping solutions range, at ANUGA.
- UFlex: FY27E consolidated revenue projected at Rs. 20,943 crore, implying around 35% growth over FY26; normalized EBITDA projected at Rs. 2,578 crore, also implying around 35% growth.
- Flair Writing Industries: Receives a Rs. 31 crore demand-cum-show cause notice from a Surat authority.
- DP Abhushan: Board to meet on October 5 to consider fundraising via equity, warrants and other instruments.
- SBI Funds Management: Inderjeet Ghuliani retires as CFO from September 30; Amol Joshi appointed CFO from October 1.
- GMDC: Appoints Ajay Bhadoo as Managing Director; Roopwant Singh ceases to be MD.
- KSB: Receives an export order worth Rs. 118 crore from Dangote Projects for supply of 18 boiler feed pump packages.
- JSW Cement: Approves merger of subsidiary Shiva Cement with the company, creating a unified cement platform.
- Time Technoplast: Approves merger of TPL Plastech with the company; TPL shareholders to receive 403 Time Technoplast shares for every 1,000 TPL shares held. The company will issue 79.02 lakh shares under the scheme.
- Laser Power & Infra: Receives a Letter of Intent worth Rs. 44 crore from CESC.
- Prestige Estates Projects: Signs a securities subscription agreement with CPP Investment Board and Prestige Hospitality to invest Rs. 3,000 crore in Prestige Hospitality Ventures in three tranches.
- DOMS Industries: Extends the deadline for forming a joint venture with Seven SpA to January 31
- NLC India: Announces a 38.5% dividend for FY26.
- Aurum PropTech: Allots 1.97 crore shares to REA India Pte at an issue price of Rs. 231.42 per share.
- Tata Motors Passenger Vehicles: Clarifies it has no knowledge of any negotiations, unannounced information or legal proceedings concerning reports linked to Tata Sons' listing prospects
IPO Update
Shah Investors IPO
- Overall subscription stands at 1.10x on Day 2;
- NIIs 1.59x
- QIBs 1.08x
- Retail 0.90x
SRIT India IPO
- Overall subscription stands at 4.16x on Day 2
- Retail 6.04x
- NIIs 5.25x
- QIBs 0.03x
German Green IPO
- Overall subscription stands at 28.98x on Day 3
- NIIs 54.03x
- Retail 22.83x
- QIBs 20.93x.
AceVector IPO
- Overall subscription stands at 4.93x on Day 3
- NIIs 8.16x
- Retail 4.62x
- QIBs 3.38x
Orient Cables IPO
- Overall subscription stands at 92.27x on Day 3
- QIBs 182.76x
- NIIs 115.63x
- Retail 30.55x
Runwal Enterprises IPO
- Overall subscription stands at 2.50x on Day 3
- NIIs 3.94x
- QIBs 3.89x
- Retail 1.12x.
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IPO Listings
ArMee Infotech: Co is an IT infrastructure solutions and managed services company
- Overall Subscription: 2.62x
- QIB (Ex-Anchor): 3.20x
- NII: 2.24x
- Retail: 2.65x
Swastika Infra: Engineering, procurement and construction company specializing in power transmission and distribution (T&D) infrastructure projects
- Overall Subscription: 7.91x
- QIB (Ex-Anchor): 3.31x
- NII: 19.35x
- Retail: 5.64x
Elevate Campuses: Co is an education infrastructure company engaged in owning, operating and managing on-campus student accommodation for higher education institutions (HEIs) and owning K-12 school assets.
- Overall Subscription: 1.89x
- QIB (Ex-Anchor): 2.66x
- NII: 0.89x
- Retail: 1.07x
Adroit Industries (India): Co is a vertically integrated manufacturer and supplier of propeller shafts and torque-transmission components used in driveline systems
- Overall Subscription: 176.85x
- QIB (Ex-Anchor): 195.04x
- NII: 332.35x
- Retail: 99.81x
IPO To Open
- Vishal Nirmiti: Co is a civil engineering, manufacturing, and construction
- Nityas Gems & Jewellery: Co is engaged in the design, manufacturing and sale of lab-grown diamond studded gold jewellery in India
Bulk & Block Deals
- AXISCADES Technologies: Jupiter Capital sold 45.49 lakh shares at Rs. 1,824 per share; buyers included Kotak Mahindra Mutual Fund (20.83 lakh shares), Abakkus entities (12.88 lakh shares), Svadha India Emerging Opportunities (8.77 lakh shares) and Vanaja Sundar (3 lakh shares).
- TCI Express: TCI Trading sold 6.10 lakh shares at Rs. 485 per share to XPS Cargo Services.
- BSE: BNP Paribas Financial Markets and Goldman Sachs Investments Mauritius sold a combined 68.33 lakh shares at around Rs. 3,200 per share; buyers included UTI Mutual Fund (27.13 lakh shares) and Nippon India Mutual Fund (25.30 lakh shares).
- Centum Electronics: Motilal Oswal Mutual Fund bought 1.05 lakh shares at Rs. 4,928.89 per share.
- Honasa Consumer: Peak XV Partners Investments VI and Sequoia Capital Global Growth Fund III sold a combined 1.33 crore shares at around Rs. 450 per share; buyers included Franklin Templeton Mutual Fund (33.33 lakh shares) and ICICI Prudential Life Insurance (17.78 lakh shares).
- Kajaria Ceramics: Chetan Kajaria Family Private Trust sold 18 lakh shares at Rs. 1,190.01 per share; SageOne Investment Managers bought 10.50 lakh shares at Rs. 1,190 per share.
- Varmora Granito: Econo Trading & Investment bought 20 lakh shares and Acquario Wealth Advisors bought 12.50 lakh shares, both at Rs. 155 per share.
- 360 ONE WAM: The Regents of the University of California sold 36.34 lakh shares at Rs. 1,030.08 per share.
- Anand: Venus Investments VCC - Venus Stellar Fund bought 2.26 lakh shares at Rs. 72.10 per share; other buyers included Kalpana Ashok Choksi (1.50 lakh shares), Anshuman Dilipkumar Thakkar (1.28 lakh shares) and Eleven Hats LLP (94,400 shares)
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- Cube Highways Trust: Seventy Second Investment Company LLC sold 4.50 crore units at Rs. 153.30 per unit; buyers included Larsen & Toubro (97.85 lakh units), WhiteOak Capital Mutual Fund (84.80 lakh units), HDFC Life (68.32 lakh units) and ICICI Prudential Life Insurance (68.32 lakh units) and others
- Lords Mark Industries: Sachidanand Hariram Upadhyay sold 89.99 lakh shares at Rs. 85.15 per share.
Insider Trade
GNA Axles: Promoter group member Maninder Singh Seehra acquired 10.82 lakh shares in the company
F&O Cues
- Nifty Sep futures is down -0.08% to 22,893.20 at a premium of 177 points.
- Nifty Options 06 Oct Expiry: Maximum Call open interest at 23,500 and Maximum Put open interest at 22,000.
- Securities in ban period: SAIL
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