- GIFT Nifty fell 76.10 points to 24,343, signaling a negative Nifty 50 open
- NSE Nifty 50 and BSE Sensex declined 0.52% and 0.24% respectively on Wednesday
- Nvidia’s strong sales outlook boosted US futures and Asian markets, especially Kospi
Good Morning!
The GIFT Nifty is trading at a decline of 76.10 points at 24,343 as of 6:30 a.m., indicating negative open for the benchmark Nifty 50. The NSE Nifty 50 and BSE Sensex fell 0.52% and 0.24% respectively. US index lower are trading higher during Asian trading hours while the European index futures are trading higher.
- S&P 500 futures trade 0.02% lower.
- Euro Stoxx 50 futures trade 0.30% up.
US Market Recap
Nvidia Corp.'s bullish sales outlook lifted US equity-index futures and technology stocks after bolstering optimism that this year's rally in artificial intelligence shares has further to run. Contracts for the tech-heavy Nasdaq 100 Index climbed 1.2%, while those for the S&P 500 Index added 0.6% after Nvidia signalled strong sales growth in 2028. S&P 500 futures rose 0.6% as of 9:04 a.m. Tokyo time, as per Bloomberg.
The long awaited July US inflation data saw a 0.2% monthly increase in the core PCE index, bringing its annual rate to 3.3%. With consumer spending stalling after strong gains in May and June, the Federal Reserve now sees more leeway to keep interest rates steady. US Treasury yields were flat after the PCE report was released.
Asian Market Recap
Nvidia's strong sales forecast lifted US futures and tech stocks, fueling hopes that this year's AI rally isn't over yet. The optimism also pushed Asia's stocks up 0.6%, led by South Korea's Kospi which is a key gauge for AI. Hang Seng futures fell 0.2% while Japan's Topix rose 0.4% as per Bloomberg.
Commodity Check
Gold held above $4,600 as investors looked to how the Fed will handle sticky inflation ahead of this week's Jackson Hole meeting. Bullion rose as much as 0.7%, clawing back some of Monday's losses. It was up 0.6% to $4,619.54 at 7:38 a.m. in Singapore. Silver gained 1.3% to $68.99, while platinum and palladium also rose, as per Bloomberg.
Oil edged lower after a volatile session, with traders balancing progress in Middle East diplomacy against escalating Russia-Ukraine tensions. Brent dipped toward $87 a barrel, extending its weekly decline to over 7%, while WTI was below $82.
Copper fell for the first time this week, pulling back from a record closing high as the dollar strengthened and a squeeze in the market eased. The metal dropped 0.7% on the LME Wednesday, reversing an earlier 0.6% gain that came after its highest close ever the day before. Copper is up about 15% this year as traders ship large volumes to the US, draining stocks elsewhere while mine supply remains tight.
Stock Market Recap
Indian equity benchmarks closed lower, erasing their opening gains. The Nifty 50 settled 126.80 points, or 0.52%, lower at 24,207.75. The index fell 69.15 points from its provisional close. The Sensex ended 183.15 points, or 0.24%, lower at 77,472.94, declining 141.37 points from its provisional close.
Earnings
Juniper Green Energy (Q1 FY27, Consolidated YoY)
Revenue up 81.2% to Rs. 291.2 crore versus Rs. 160.7 crore.
EBITDA up 89.4% to Rs. 261.5 crore versus Rs. 138.1 crore.
EBITDA margin at 89.8% versus 85.9%.
Net profit up 54.4% to Rs. 33.5 crore versus Rs. 21.7 crore.
Stocks in News
- Bharat Electronics: Receives additional orders worth Rs. 730 crore since August 10.
- UPL: Group COO Toshan Tamhane resigns with effect from August 31.
- Marathon Nextgen Realty: Says stock price movement is market-driven and continues to evaluate development opportunities.
- Devyani International: Subsidiary Devyani RK has been struck off and stands dissolved from August 25.
- Bombay Burmah: Supreme Court recalls its earlier observation on the Rs. 4,655 crore lease-rent claim and grants relief to the company.
- KIMS: Denies media reports regarding a stake acquisition in Renova Hospitals, calling them false and baseless.
- Swan Defence: NCLT Ahmedabad approves merger of Triumph Offshore with the company.
- IRB Infrastructure: Approves raising Rs. 351 crore via preferential issue to IRB Infrastructure Developers.
- IRB Infrastructure Developers: Approves amalgamation scheme involving nine subsidiaries to simplify group structure.
- Max Healthcare: Receives a Rs. 165 crore tax demand, including penalty.
- Mankind Pharma: Approves absorption of Bharat Serums and Vaccines' business on a going-concern basis.
- Fino Payments Bank: RBI approves extension of Ketan Merchant's tenure as Interim CEO for three months.
- Emami: Reappoints Harsha Vardhan Agarwal as MD & Vice Chairman for five years.
- Samvardhana Motherson: Subsidiary commences production at its Pune facility manufacturing PCBAs, ECUs and other electronic products.
- Redtape: Shareholders approve reappointment of Shuja Mirza as Managing Director for five years.
- NITCO: Enters a JV with The House of Abhinandan Lodha to develop a 40-acre Alibaug project with expected revenue potential of Rs. 4,500 crore over five years.
- Star Cement: Q1 cement sales volume grew 7% YoY while realisations increased 1.2% YoY; margins impacted by higher diesel prices.
- Reliance Communications: Adjudicating Authority under PMLA confirms provisional attachment of certain movable and immovable properties worth Rs. 582 crore.
- Keystone Realtors: Approves fundraising of Rs. 405 crore via NCDs.
- Jio Financial Services: JioBlackRock Liquid Fund's AUM exceeded Rs. 10,000 crore in April 2026; retail fund management entity established in GIFT City.
- Titagarh Rail Systems: Signs an MoU with Siemens for global metro projects.
- Deepak Nitrite: Subsidiary allots 95 lakh optionally convertible preference shares worth Rs. 95 crore to arm Deepak Phenolics.
- Senores Pharma: Will incorporate subsidiaries in Canada and Mexico.
- Tata Power: Singapore court dismisses the company's challenge to an arbitral award; company to appeal the ruling.
- Ravindra Energy: Issues a Rs. 41 crore corporate guarantee.
- Vedanta Iron & Steel: ROC closes legacy adjudication proceedings against arm ESL Steel related to FY16-FY18 disclosures.
- G R Infraprojects: Receives a Rs. 322 crore tax demand from the Indore tax authority.
- Devyani International: Terminates Sapphire Foods stake-sale pact; merger with Sapphire Foods to continue.
- Mold-Tek Technologies: Declares final dividend of Rs. 2 per share.
- Prime Focus: Arm DNEG incorporates subsidiary DNEG Middle East FZ LLC.
- Jio Financial Services: Reappoints Hitesh Sethia as MD & CEO for five years from November 15.
- Man Infraconstruction: Board to meet on September 1 to consider a share buyback proposal.
- Time Technoplast: Approves in-principle merger with TPL Plastech, drops acquisition of Ebullient Packaging and will invest up to Rs. 50 crore for a 65% stake in Time Intercontinental.
- Lemon Tree Hotels: Opens a 94-room hotel in Vadodara.
- Brightcom Group: Targets improvement in profitability, operating cash flow conversion and earnings quality.
- Rustomjee: Board approves raising up to Rs. 405 crore through listed NCDs via private placement.
IPO to Open
Lumino Industries
Manufactures specialised power cables, conductors and wires while providing end-to-end engineering, procurement and construction (EPC) services.
The total issue size is Rs. 700 crore, comprising a fresh issue of 6.10 crore shares aggregating to Rs. 500 crore and an offer for sale of 2.44 crore shares aggregating to Rs. 200 crore. The issue opens for subscription on August 27, 2026 and closes on August 31, 2026.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Income | 2,089.31 | 1,946.68 | 1,424.63 |
| Profit After Tax | 160.00 | 124.59 | 86.61 |
| EBITDA | 238.95 | 222.94 | 145.09 |
| EBITDA Margin (%) | 11.44 | 11.45 | 10.18 |
Board Meetings
Great Eastern Shipping Company: To consider a proposal to buy back fully paid-up equity shares of the company.
Bulk & Block Deals
- PhysicsWallah: Lightspeed Opportunity Fund II sold 4.67 crore shares at Rs. 117.72 per share. Buyers included ICICI Prudential Mutual Fund (2.20 crore shares), Goldman Sachs India Equity Portfolio (61.23 lakh shares), Tata AIA Life Insurance (33.98 lakh shares) and other institutional investors.
- Rubicon Research: General Atlantic Singapore RR sold 8.43 lakh shares at Rs. 1,660 per share to Aranda Investments Pte. General Atlantic Singapore RR also sold 1.30 crore shares at Rs. 1,660 per share; buyers included HDFC Mutual Fund (48.78 lakh shares), ICICI Prudential Mutual Fund (18.07 lakh shares), Kotak Mahindra Mutual Fund (16.57 lakh shares), SBI Mutual Fund (12.05 lakh shares) and other institutional investors.
- Viyash Scientific: CA Harbor Investments and CA Hull Investments sold a combined 4.70 crore shares at Rs. 263.10-270 per share. Buyers included Bandhan Mutual Fund (28.43 lakh shares), Edelweiss Mutual Fund (25.93 lakh shares), Panvira India Innovation Fund (11.11 lakh shares), Aagam Investments (9.26 lakh shares) and S Gupta Homes (9.26 lakh shares). Arthkumbh Ventures LLP bought 23.40 lakh shares at Rs. 263.20 per share.
- Welspun Corp: Welspun Investments & Commercials and Vipul Mathur sold a combined 63 lakh shares at Rs. 2,275.30 per share. Buyers included Euro Pacific Growth Fund (29.46 lakh shares), New World Fund (9.93 lakh shares), Capital Group Europacific Growth Trust (4.43 lakh shares), Edelweiss Mutual Fund (3.74 lakh shares), Quant Mutual Fund (3.69 lakh shares) and other institutional investors.
- Standard Engineering: Amansa Holding sold 11.58 lakh shares at Rs. 324.60 per share.
- TCC Concept: Goldman Sachs Asia Strategic sold 4.05 lakh shares at Rs. 258.48 per share.
- Billionbrains Garage Ventures (Groww): Ribbit Capital V LP and Ribbit Cayman GW Holdings V sold a combined 11.31 crore shares at around Rs. 196 per share.
- Gaja Alternative Asset Management: Invesco Mutual Fund bought a combined 85.95 lakh shares at prices ranging between Rs. 174.50 and Rs. 185 per share.
- DMart (Avenue Supermarts): American Funds Insurance Series Global Growth and Income Fund sold 67.65 lakh shares at Rs. 3,750.58 per share.
- PG Electroplast: Deepak Kumar Seth sold 5.50 lakh shares at Rs. 2,280.51 per share.
AGM
Marksans Pharma, Kalyani Steels, GAIL, NCC, Borosil Renewables, Aurobindo Pharma, Alkem Laboratories, La Opala RG, Jubilant Foodworks, Juniper Hotels, Flair Writing, NTPC, Bharat Petroleum Corporation, Vodafone Idea, TBO Tek, Styrenix Performance, Mazagon Dock, IndusInd Bank, Krishna Institute of Medical Sciences, Jain Resource Recycling.
Lock-in
Xtranet Technologies: 20 lakh shares, 38% of total outstanding, one-month lock-in.
Lohia Corp: 58 lakh shares, 5% of total outstanding, one-month lock-in.
INDO-MIM: 1.18 crore shares, 2% of total outstanding, one-month lock-in.
Clean Max Enviro Energy Solutions: 3.39 crore shares, 29% of total outstanding, six-month lock-in.
Insider Trade
Alembic: Promoter group entity Nirayu Pvt Ltd acquired 1.29 lakh shares in the company.
Silver Touch Technologies: Promoter and Director Vipul Haridas Thakkar acquired a total of 28,000 shares in the company.
GNA Axles: Promoter group member Maninder Singh Seehra disposed of a total of 8.95 lakh shares in the company.
Additional Surveillance Measure (ASM)
Short-term ASM: Max Estates added to the list of securities shortlisted under the Short-Term ASM framework.
Excluded from ASM: KRN Heat Exchanger and Refrigeration and Ujaas Energy.
F&O Cues
- Nifty September futures: Down 0.21% to 24,420 at a premium of 213 points.
- Nifty options — September 1 expiry: Maximum Call open interest at 24,500 and maximum Put open interest at 24,200.
- Securities in ban period: SAIL.
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