Good morning!
The GIFT Nifty is trading at a decline of 19.90 points at 24,262 as of 7:06 a.m., indicating negative open for the benchmark Nifty 50. The NSE Nifty 50 and BSE Sensex fell 0.48% and 0.70% respectively. US index futures are trading higher while European index futures lower during Asian trading hours.
- S&P 500 futures trade 0.72% higher.
- Euro Stoxx 50 futures trade 0.73% down.
US Market Wrap
US stock futures eased as traders held back ahead of Federal Reserve Chair Kevin Warsh's speech at Jackson Hole for signals on rates. Treasuries held losses. Futures for Wall Street indexes slipped after initial optimism from Nvidia's upbeat outlook faded. Nasdaq 100 contracts dropped 0.2%, weighed down by a more than 7% post-earnings slump in Marvell Technology. S&P 500 futures were little changed at 9:49 a.m. Tokyo time.
Asian Market Wrap
Asian shares posted modest gains as traders held back ahead of Federal Reserve Chair Kevin Warsh's Jackson Hole speech for clues on the path of interest rates. Treasuries held their losses. Asian shares gained 0.2%. In Asia, the yen hovered around 159.35 per dollar after Tokyo's key inflation gauge accelerated for a third month. Hang Seng futures fell 0.5% while Japan's Topix rose 0.7%, as per Bloomberg.
Commodity Check
Gold held near $4,600 as investors waited for Fed Chair Kevin Warsh's speech for clues on US interest rates. Bullion was flat after gaining 0.2% in the last session, but was still set for its biggest monthly jump since 1999. Spot gold rose 0.1% to $4,603.23 an ounce at 7:15 a.m. in Singapore. Silver also climbed 0.1%, to $69.28 an ounce. Platinum and palladium edged higher, as per Bloomberg.
Zinc slipped from a more than four-year high as traders watched for signs of tight supply on the LME. Futures settled 0.2% lower at $3,884 a ton. Like copper, zinc is showing a near-term squeeze, with spot prices trading at a growing premium to futures. Other LME metals were mostly up, with copper gaining 0.2% and aluminum up 0.3%.
Oil prices slipped on Friday as traders balanced fresh uncertainty over the Strait of Hormuz against escalating risks to Russian energy infrastructure. WTI crude was down 0.29% at $83.29 a barrel, while Brent crude fell 0.19% to $88.35 in early trade on August 28.
Indian Stock Market Recap
Benchmark indices, Sensex and Nifty 50, ended lower after Thursday's session, driven by weakness in metals, banks, and cement stocks. BSE Sensex ended at 76,933.59 levels, down 0.7%. Nifty50 closed ar 24,090.85, down 0.48%.
On BSE, HDFC Bank, NTPC were among the top losers, while Hindalco Industries, HDFC Bank, NTPC, Shriram Finance, and Mahindra & Mahindra (M&M) were the top losers on the Nifty 50 index.
Stocks In News
Thomas Cook: Arm Sterling Holiday opens a resort in Uttarakhand.
Wipro: Expands partnership with Google Cloud to accelerate enterprise adoption of Gemini Enterprise and Agentic AI.
Dr Agarwal Eye Hospital: Launches a PPP (Pinhole Pupilloplasty) Centre in Chennai.
Everest Industries: Maharashtra tax authorities conclude search proceedings at the company; discrepancies have been settled.
Star Cement: Company and subsidiaries no longer required to pay Mineral Cess with effect from August 22.
Indoco Remedies: Executes deed to sell Mumbai land parcel for Rs. 64 crore.
Mahindra Lifespace Developers: To sell stake in four associate companies for Rs. 80 crore.
LIC: Subscribes to Rs. 5,000 crore NCD issue of Bajaj Finance.
GK Energy: Receives rooftop solar installation empanelment covering 1 lakh households.
NMDC Steel: Ashish Chatterjee ceases to be Government Nominee Director from August 24.
Sterlite Technologies: Achieves significant progress towards decarbonization, with electricity sourcing shifted to 100% green power from wind and solar sources.
Servotech Renewable Power Systems: Reappoints Raman Bhatia as MD and enhances borrowing limit to Rs. 800 crore.
New India Assurance: Receives income tax refund of Rs. 781 crore for AY23.
RPP Infra Projects: Rs. 206 crore Tamil Nadu work order terminated.
Anand Rathi Wealth: Allots NCDs worth Rs. 11.4 crore via private placement.
Adani Enterprises: JV AdaniConneX acquires 100% stake in Chandenvalle Infra Park (CIPL) from Adani Power for Rs. 536 crore.
Great Eastern Shipping: Approves Rs. 900 crore buyback at up to Rs. 1,530/share; buyback size up to 58.8 lakh shares (4.12% equity).
Chemplast Sanmar: Government appoints Ganeshkumar Subramanian as MD for a three-year term.
Sudarshan Chemical: Launches new product Sudaperm Violet 3040C.
FDC: Delhi High Court stays FSSAI notice on electrolyte claims and grants eight months to clear existing inventory.
Texmaco Rail & Engineering: Signs pact with Germany's Bochumer Verein for railway wheels, wheelsets and axles.
Marico: Created 547 crore litres of water conservation potential in FY26.
LIC Housing Finance: The company clarified that the NCLT order is limited to the insolvency proceedings against personal guarantor Subhash Chandra and does not affect borrower entities. LIC Housing Finance retains all rights over secured and pledged assets and will continue to pursue recovery and enforcement actions on the loan accounts.
FDC: Delhi High Court grants interim stay on FSSAI's notice regarding ‘electrolyte/electrolyte drink' claims and allows the company 8 months to exhaust existing stock and update labels; company says there is no material impact on operations or financials.
Federal-Mogul Goetze: Declares interim dividend of Rs. 7.5/share and special dividend of Rs. 86.5/share.
Tejas Networks: Receives Rs. 1,537 crore Letter of Intent from TCS for supply of RAN equipment.
Allcargo Global Logistics: July LCL volumes decline 6% YoY to 728 thousand cubic metres.
NMDC: Ashish Chatterjee ceases to be Government Nominee Director from August 24.
SAIL: Ashish Chatterjee ceases to be Government Nominee Director from August 24.
RailTel: Receives Rs. 38 crore order from Cotton Corporation of India.
Hindustan Copper: Board to consider QIP of up to 9.7 crore shares and fundraising of Rs. 500 crore via NCDs and other instruments on September 23.
NBCC: Receives work orders worth Rs. 134 crore from multiple government bodies.
Dr Lal PathLabs: Arm Dr Lal Ventures completes subscription for a 30% stake in Neuome.
Karur Vysya Bank: The bank opens 16 new branches across India.
Tata Steel: Appoints Manish Garg as Chief Information Officer.
ACME Solar Holdings: Commissions 15 MW/240.75 MWh BESS capacity in Rajasthan.
Hyundai Motor India: Shareholders approve appointment of Mukundan MS as Whole-Time Director from September 1.
Zee Entertainment: SAT grants a one-day extension for issuance of 2.4 crore warrants.
Cipla: JV Aspergen acquires a 100% stake in Aspergen Inc, making it a wholly-owned subsidiary.
Zee Entertainment: Allots 2.4 crore warrants worth Rs. 75.8 crore to promoter-group entity Sunbright Mauritius.
Hero MotoCorp: To acquire an additional stake in Ather Energy for Rs. 1,758 crore; holding to rise to 32.8% from 29.88%.
IndusInd Bank: Shareholders approve appointment of Ganesh Sankaran and Jagdeep Mallareddy as Whole-Time Directors for three years.
Sri Lotus Developers: Board to consider first interim dividend on September 1.
Nesco: Receives environmental clearance for proposed projects in Mumbai.
ICICI Bank: Completes issuance of USD 1 billion senior notes under its USD 7.5 billion GMTN programme.
ALSO READ: S&P Affirms India's 'BBB' Sovereign Rating; Cites Dynamic Economy, Policy Stability
IPO Update
Skyways Air IPO
Overall subscription at 71.25x on final day
QIBs 139.69x
NIIs 87.24x
Retail 25.40x.
Hy Tech Engineers IPO
Overall subscription at 244.41x on final day
QIBs 255.77x
NIIs 402.29x
Retail 170.58x.
Symbiotec Pharmalab IPO
Overall subscription at 71.26x on final day
QIBs 172.03x
NIIs 73.63x
Retail 12.96x.
Annu Projects IPO
Overall subscription at 0.88x on Day 3
QIBs 1.16x
NIIs 0.90x
Retail 0.81x.
Lumino Industries IPO
Overall subscription at 1.42x on Day 1
NIIs 2.09x
Retail 1.96x
QIBs 0.04x.
IPO Listings
Tempsens Instruments
IPO subscribed 184.22 times. The public issue subscribed 61.00 times in the retail category, 302.88 times in QIB (Ex Anchor), and 314.44 times in the NII category by August 24, 2026 6:54:45 PM (Day 3).
| Category | Subscription (x) |
|---|---|
| Anchor | 1 |
| QIB (Ex Anchor) | 302.88 |
| NII | 314.44 |
| bNII (> ₹10L) | 331.34 |
| sNII (< ₹10L) | 280.66 |
| Retail | 61 |
| Employees | 124.95 |
| Total ** | 184.22 |
IPO To Open
Priority Jewels
Mumbai-based business that designs, manufactures, and supplies lightweight, affordable diamond-studded gold and platinum fine jewelry to major retail brands and independent jewellers. The total issue size is of Rs. 92 crores. The issue is entirely a fresh issue of 0.46 crore shares of Rs. 91.50 crore. It opens for subscription on Aug 28, 2026 and closes on Sep 1, 2026.
| Period Ended | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Total Income | 147.4 | 539.03 | 435.87 | 410.61 |
| EBITDA | 10.29 | 33.62 | 24.28 | 19.35 |
| EBITDA Margin (%) | 6.98 | 6.24 | 5.57 | 4.71 |
| Profit After Tax | 6.48 | 17.65 | 10.51 | 7.15 |
ESDS Software Solution
Enterprise cloud, data center, AI enabled end to end IT service provider and GPU built in India and governed by Indian law. The total issue size is of Rs. 720 crores. The issue is entirely a fresh issue of 1.68 crore shares of Rs. 720.00 crore. It opens for subscription on Aug 28, 2026 and closes on Sep 1, 2026.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Income | 480.65 | 376.64 | 292.14 |
| EBITDA | 234.23 | 154.89 | 101.88 |
| EBITDA Margin (%) | 48.73 | 41.12 | 34.87 |
| Profit After Tax | 120.82 | 55.61 | 13.61 |
Board Meetings
Max Estates: To approve the issue of equity shares by way of preferential issue
Corporate Action
Jaykay Enterprises - Rights 3:19 @Premium Rs. 74 , Face Value – Rs 1 per share
Bulk & Block Deals
Apollo Tyres: Emerald Sage Investment sold 2.70 crore shares at Rs. 435 per share; buyers included ICICI Prudential Mutual Fund (1.91 crore shares) and SBI Life Insurance (56.32 lakh shares). Bajaj Life Insurance bought 22.98 lakh shares at Rs. 435 per share.
DCB Bank: Oman India Joint Investment Fund II sold 37 lakh shares at Rs. 217.01 per share.
Foseco India: Morgan Terrassen BV and Morganite Crucible sold a combined 11.51 lakh shares at Rs. 5,897 per share; buyers included SBI Mutual Fund (3.22 lakh shares), Mirae Asset Mutual Fund (2.92 lakh shares), Invesco Mutual Fund (2.54 lakh shares) and other institutional investors.
Happiest Minds Technologies: Polunin Emerging Markets Small Cap Fund bought 8.30 lakh shares at Rs. 429.92 per share.
Iris Clothings: Nippon Life India Asset Management bought 11.54 lakh shares at Rs. 57.10 per share.
Aye Finance: Alpha Wave India I LP sold a combined 1.92 crore shares at around Rs. 168 per share; buyers included Integrated Core Strategies (Asia) Pte Ltd (23.81 lakh shares) and Singularity Large Value Fund III (14.88 lakh shares).
ICICI Asset Management Company: Prudential Corporation Holdings sold 98.85 lakh shares at Rs. 3,065.47 per share.
AGM
Hitachi Energy India, Capillary Technologies India, Vishnu Chemicals, Stylam Ind,
Frontier Spring, Welspun Living, Bondada Engineering, Star Health & Allied Insur, NHPC, Hindustan Aeronautics, LIC Housing Finance, Tenneco Clean Air India, Unimech Aerospace and Manufacturing, NTPC Green Energy, Digitide Solutions, Jindal Steel
Insider trade
Ashapura Minechem: Promoter group member Chetan Navnitlal Shah acquired 25,000 shares in the company.
Hindustan Copper: Promoter President of India, acting through the Ministry of Mines, disposed of 5.80 crore shares in the company.
Info Edge (India): Promoter and Director Hitesh Oberoi disposed of 1.02 lakh shares in the company.
Karur Vysya Bank: Promoter G Rajasekaran disposed of 9,103 shares in the company.
Karur Vysya Bank: Promoter group members R Nageswari and G Mani disposed of 9,103 shares each in the company.
Nava: Promoter group member Devineni Ramaa acquired 46,000 shares in the company.
Nava: Promoter group entity A9 Homes Private Limited acquired 42,000 shares in the company.
F&O Cues
Nifty Sep futures is down 0.67% to 24,266 at a premium of 176 points.
Nifty Options 01 Sep Expiry: Maximum Call open interest at 24,300 and Maximum Put open interest at 24,000.
Securities in ban period: LICHSGFIN, SAIL
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