Good Morning!
The Gift Nifty was trading around 23,797 level, a discount of nearly 62 points from the Nifty futures’ previous close indicating negative open for the benchmark Nifty 50. The NSE Nifty 50 and BSE Sensex fell 0.50% and 0.50% respectively. US and European index futures are trading higher during Asian trading hours.
- S&P 500 futures trade 0.38% lower.
- Euro Stoxx 50 futures trade 0.17% higher.
US Market Wrap
US stock futures traded cautiously as escalating tensions in the Middle East lifted oil prices, compounding concerns over a challenging inflation environment. S&P 500 futures slipped 0.2%, while Nasdaq 100 futures edged up 0.1%. In Europe, the Stoxx 600 swung between gains and losses, with economically sensitive sectors leading declines as rising inflation worries pushed regional bond yields higher, according to Bloomberg.
Asian Market Wrap
Asian equities edged higher, led by a rally in technology shares. The MSCI Asia Pacific Index rose 0.2%, with South Korea’s Kospi advancing 1.1%, while Japan’s broader Topix slipped 0.4%. South Korean memory-chip makers were among the region’s top performers as enthusiasm around artificial intelligence strengthened following the launch of OpenAI’s GPT-6 model.
Commodity Check
Oil traded near $100 a barrel, holding on to recent gains as investors awaited further details of a reported Iran-Oman agreement aimed at safeguarding shipping through the Strait of Hormuz. Meanwhile, robust Chinese crude purchases continued to tighten global supply conditions. Brent crude has climbed 1.6% over the past two sessions, while US benchmark West Texas Intermediate remained above $92 a barrel.
Gold held steady near $4,400 an ounce as traders balanced concerns over escalating Middle East tensions against a weaker US dollar, which slid against the yen and bolstered demand for the precious metal. Bullion was little changed in early trading after retreating 1.5% over the previous two sessions. Spot gold rose 0.1% to $4,409.68 an ounce as of 7:18 a.m. in Singapore. Silver also advanced 0.1% to $66.22 an ounce, while platinum was broadly flat and palladium edged higher, according to Bloomberg.
Copper hit a record high on the London Metal Exchange, extending a weeks-long rally driven by expectations that US President Donald Trump will broaden tariffs on refined metal imports. LME three-month copper futures climbed as much as 0.8% to an all-time high of $14,533 a tonne, surpassing the previous record set in January, before trimming some of the gains.
Stock Market Recap
Indian equity benchmarks Sensex and Nifty50 ended lower on Monday, dragged by weakness across IT, metal and realty stocks, while investors remained cautious amid renewed geopolitical tensions in the Middle East.
The BSE Sensex ended at 76,132.81 levels, down 382.62 points or 0.5%, while the Nifty50 settled at 23,779.15 levels, declining 118.55 points or 0.50%.
Earnings & Updates
Behari Lal Engineering — Q1
- Net profit up 24.7% to Rs 19.2 crore versus Rs 15.4 crore YoY
- Revenue up 18.1% to Rs 151.7 crore versus Rs 128.5 crore YoY
- Ebitda up 20.5% to Rs 27.5 crore versus Rs 22.8 crore YoY
- Ebitda margin at 18.1% versus 17.8% YoY
Shiprocket — Q1 (Cons)
- Net loss at Rs 13.7 crore versus loss of Rs 18 crore YoY
- Revenue up 33.8% to Rs 592 crore versus Rs 442.4 crore YoY
- Ebitda loss at Rs 11 crore versus loss of Rs 17.7 crore YoY
ICICI Prudential Life — August 2026 Business Update
- APE grew 23.4% YoY to Rs 893.9 crore in August 2026
- Retail APE grew 24.5% YoY to Rs 243.6 crore in August 2026
- New Business Premium (NBP) grew 10% YoY to Rs 195.3 crore
- For 1HFY27, APE increased 14.6% YoY to Rs 2,136 crore
- Retail APE grew 8.9% YoY to Rs 1,646 crore in 1HFY27
- NBP rose 21.3% YoY to Rs 486.6 crore in 1HFY27
- NBSA jumped 38.7% YoY to Rs 4,896.7 crore in 1HFY27
Bajaj Finserv — Insurance Subsidiaries, August 2026 Business Update
- Bajaj Allianz General Insurance (BAGIC) gross direct premium underwritten (GDPI) rose 11% YoY to Rs 2,291 crore in August 2026
- BAGIC GDPI for April-August 2026 increased 11.8% YoY to Rs 10,435 crore
- Bajaj Allianz Life Insurance (BALIC) total new business premium (NBP) grew 31.6% YoY to Rs 1,954 crore in August 2026
- BALIC individual non-single premium rose 8.4% YoY to Rs 601 crore
- BALIC group single premium increased 47.9% YoY to Rs 1,157 crore
- BALIC cumulative NBP for April-August 2026 surged 41.7% YoY to Rs 7,017 crore
Stocks In News
- PVR Inox — Clarified that an anonymous complaint received in April 2026 alleging impropriety by certain employees prompted a preliminary independent review. The review found no evidence of kickbacks. Former Executive Director Pramod Arora resigned on May 4, 2026 for personal reasons and was not asked to leave.
- Garuda Construction — Subsidiary signed MoU for a 93-storey Jeddah tower, with estimated revenue potential of Rs 1,800 crore over five years.
- Sammaan Capital — Board approved enabling authorisation to raise up to Rs 25,000 crore via NCDs/bonds; AGM on September 30, 2026.
- 63 Moons Technologies — Wholly owned subsidiary Financial Technologies Singapore subscribed to 2.59 crore equity shares of Ticker Ltd for Rs 70 crore on a preferential basis. Post-allotment, 63 Moons’ stake in Ticker increased to 65.8%.
- Adani Power — Received LOI on September 7, 2026 to acquire GVK Energy’s 330 MW hydro plant.
- Symphony — Plans phased India entry into ACs, BLDC ceiling fans and air purifiers from December 2026.
- GE Vernova T&D India — Declared L1 bidder by Power Grid for design and execution of a 6,000 MW, 800 kV HVDC LCC terminal station for evacuation of renewable power from Barmer-II to South Kalamb.
- Mankind Pharma — Shareholders of wholly owned subsidiary Bharat Serums and Vaccines approved its voluntary liquidation.
- Swiggy — To sell its entire stake in step-down subsidiary Lynks Logistics to Trustroot Internet through a share-swap transaction. The transferred B2B distribution business generated Rs 668 crore revenue in FY26.
- JSW Dulux — Received GST show-cause notice from Karnataka GST authorities over alleged excess input tax credit claims for April 2022-March 2023, involving a demand of Rs 48.59 crore.
- Neuland Laboratories — Board approved Rs 126 crore capex to acquire 134 acres of land in Auro Industrial City, Kakinada for future expansion. Company also holds a right of first refusal for an additional 66 acres, taking the potential land parcel to 200 acres.
- CONCOR — Received Rs 89.09 crore order, including GST, from Eastern Railway’s Jamalpur Locomotive Workshop for supply of 12 rakes of BLSS wagons along with brake vans.
- Zee Entertainment — Clarified that it is not aware of any undisclosed information or material event that could have impacted its operations or share price.
- Avenue Supermarts — Opened a new DMart store at Tonk Road, Jaipur; total stores now 509.
- Aarti Industries — Commissioned Phase I of Zone IV, unlocking new high-value manufacturing opportunities.
- Rajputana Stainless — Awarded 2.10 MW wind and 8 MW solar projects in Gujarat; execution in 11 and four months, respectively.
- Pearl Global — Record date set for 1:1 bonus issue on September 11, 2026; allotment on September 15.
- Ethos — Opening of Ethos Watch Boutiques at Kozhikode, Kerala.
- Kalyani Steels — Appointed Ajay Kirtane as Independent Director.
- Atul — Shareholders approved Vinayak Deshpande’s appointment as Independent Director for five years.
- State Bank of India — UFBU served strike notices for September 11, September 28-30 and a continuous strike from October 26, 2026.
- Tribhovandas Zaveri — GRT Jewellers to acquire 25.88% of Tribhovandas Zaveri (TBZ).
- Marathon Nextgen — Shareholders and creditors approved Marathon Nextgen Realty’s amalgamation plan.
- Mahindra & Mahindra — India Ratings affirmed M&M and NCD ratings at IND AAA/Stable on September 7, 2026.
- Metropolis Healthcare — MQSPL signed SSA and SHA with Medsource and Dr Puneet; total investment of about Rs 1.26 crore.
- Unimech Aerospace — Bought 850 Dheya Engineering shares for Rs 3 crore on September 7, 2026.
- REC — Successfully issued India’s first pilot issue of tokenised corporate bonds under the SEBI Regulatory Sandbox Framework.
- Motilal Oswal Financial Services — Finance Committee approved issuance of up to Rs 200 crore secured, rated and listed NCDs on a private placement basis, including a Rs 40 crore base issue and Rs 160 crore greenshoe option, with a five-year tenor.
- PNB Housing Finance — Board approved raising up to Rs 10,000 crore through NCDs on a private placement basis in one or more tranches. NCDs to be listed on the NSE and/or BSE wholesale debt segment.
- Supreme Industries — Promoter Vijay Kumar Taparia acquired 3,17,398 shares, representing a 0.25% stake, through transmission of shares. His holding increased to 5,62,288 shares, or 0.44%, from 2,44,890 shares, or 0.19%.
- TVS Motor — Brings flagship adventure technology to the A2 class with RTX 300.
- Alembic Pharmaceuticals — Incorporated wholly owned subsidiary Alembic Pharmaceuticals Global FZCO in Dubai on August 24, 2026.
- Vishnu Chemicals — Entered into a 50:50 joint venture with France-based DCX Chrome SAS to set up a greenfield 6,000 TPA high-purity chromium metal manufacturing facility at Visakhapatnam, Andhra Pradesh.
- Equitas Small Finance Bank — Appointed Sivaraman K as Head–Operations and designated him as Senior Management Personnel, effective September 7, 2026.
- PVR Inox — Buyback opens September 10 and closes September 17, 2026. Company to buy back up to 20.69 lakh shares, representing 2.11% of equity, at Rs 1,450 per share for an aggregate amount of up to Rs 300 crore through the tender offer route.
- Anupam Rasayan — Board approved investment of Rs 60.88 crore in Tanfac Industries through subscription to 2.60 lakh equity shares at Rs 2,341 per share on a preferential basis, aimed at increasing its stake after dilution from Tanfac’s QIP.
- Gujarat Themis Biosyn — Board meeting scheduled on September 10, 2026 to consider fundraising through issuance of NCDs on a private placement basis.
- Chalet Hotels — Signed Share Purchase Agreement for acquisition of 100% of the equity shares of Lakeview Mercantile Company Private Limited.
- Shreeji Shipping Global — Entered into a time charter agreement with AMNS Shipping & Logistics for deployment of vessel MV Sanghi Sudarshan for coastal cargo movement along the Indian coastline. The vessel has been modified for steel coil transportation and will support AMNS’ coastal logistics operations.
- GMR Airports — Served notice for voluntary redemption of Rs 1,500 crore non-convertible bonds, including Rs 1,100 crore bonds and Rs 400 crore bonds, with redemption scheduled on or before September 26-28, 2026.
- Max Healthcare — Invested Rs 87.87 crore in subsidiary Kalinga Hospital through a rights issue. Following allotment of 50.21 lakh shares, its stake increased to 66.15% from 58.28%.
Board Meetings
- Knowledge Marine & Engineering Works — To approve fundraising.
- Raymond — To consider and evaluate raising of funds.
Corporate Action
- TVS Holdings — Scheme of Arrangement: Bonus NCRPS 46:1.
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Lock-In Shares
- Hexagon Nutrition — 46 lakh shares, 4% of total outstanding; three-month lock-in.
- Rishabh Instruments — 76 lakh shares, 20% of total outstanding; 1.5-year and beyond lock-in.
IPO Openings
Kanohar Electricals — Manufacturer of transformers and EPC service provider for substations and transmission lines, catering to industries including power transmission, railways, renewable energy and power distribution. Total issue size of Rs 1,056 crore, comprising a fresh issue of 47.47 lakh shares aggregating to Rs 300 crore and an offer for sale of 1.20 crore shares aggregating to Rs 755.74 crore. Issue opens on September 8, 2026 and closes on September 10, 2026.
| Period Ended | March 31, 2026 | March 31, 2025 | March 31, 2024 |
|---|---|---|---|
| Total Income | 662.86 | 457.30 | 281.12 |
| Ebitda | 180.42 | 93.39 | 31.07 |
| Ebitda Margin (%) | 27.22 | 20.42 | 11.05 |
| Profit After Tax | 129.73 | 65.12 | 17.76 |
Prasol Chemicals — Manufactures and supplies solvents, additives and specialty chemical products for industries including pharmaceuticals, agrochemicals, home and personal care, paints, inks, construction and adhesives. Total issue size of Rs 500 crore, comprising a fresh issue of 11.83 lakh shares aggregating to Rs 80 crore and an offer for sale of 62.13 lakh shares aggregating to Rs 420 crore. Issue opens on September 8, 2026 and closes on September 10, 2026.
| Period Ended | March 31, 2026 | March 31, 2025 | March 31, 2024 |
|---|---|---|---|
| Total Income | 1,237.85 | 1,015.54 | 887.56 |
| Ebitda | 139.32 | 87.77 | 60.53 |
| Ebitda Margin (%) | 11.25 | 8.64 | 6.82 |
| Profit After Tax | 83.12 | 43.57 | 18.13 |
Glass Wall Systems — Facade fabricator offering turnkey architectural facade solutions covering design, manufacturing and project management, including glazing and curtain wall systems, aluminium doors and windows, custom metal works and cladding. Total issue size of Rs 428 crore, comprising a fresh issue of 32.97 lakh shares aggregating to Rs 60 crore and an offer for sale of 2.02 crore shares aggregating to Rs 367.89 crore. Issue opens on September 8, 2026 and closes on September 10, 2026.
| Period Ended | March 31, 2026 | March 31, 2025 | March 31, 2024 |
|---|---|---|---|
| Total Income | 471.43 | 288.14 | 310.26 |
| Ebitda | 105.20 | 73.01 | 54.70 |
| Ebitda Margin (%) | 22.32 | 25.34 | 17.63 |
| Profit After Tax | 83.79 | 57.51 | 20.25 |
IPO Listings
Rays of Beliefs IPO — Subscribed 107.71 times. The public issue was subscribed 195.86 times in the retail category, 9.06 times in QIB (ex-anchor) and 279.11 times in the NII category by September 3, 2026.
| Category | Subscription (x) |
|---|---|
| Anchor | 1 |
| QIB (Ex Anchor) | 9.06 |
| NII | 279.11 |
| bNII (> Rs 10 lakh) | 303.82 |
| sNII (< Rs 10 lakh) | 229.70 |
| Retail | 195.86 |
| Total | 107.71 |
Deepa Jewellers IPO — Subscribed 43.40 times. The public issue was subscribed 19.09 times in the retail category, 36.73 times in QIB (ex-anchor) and 109.04 times in the NII category by September 3, 2026.
| Category | Subscription (x) |
|---|---|
| Anchor | 1 |
| QIB (Ex Anchor) | 36.73 |
| NII | 109.04 |
| bNII (> Rs 10 lakh) | 127.56 |
| sNII (< Rs 10 lakh) | 72.02 |
| Retail | 19.09 |
| Total | 43.40 |
AGM
P&G Hygiene, Polyplex Corporation, Torrent Pharmaceuticals, Alivus Life Sciences, Pearl Global Industries, Garware Technical Fibres, SML Mahindra, S J S Enterprises, Mayur Uniquoters, Rico Auto Industries, Indo Rama Synthetics (India), Bengal Assam & Company, Prabha Energy, Cantabil Retail India, Meghmani Organics, eClerx Services, Embassy Developments, Go Fashion (India), Aeroflex Enterprises, SBI Funds Management, CCL Products
Bulk & Block Deals
- Edelweiss Financial Services — Venkatchalam Arakoni Ramaswamy sold 50.00 lakh shares at Rs 130.83 per share.
- Federal-Mogul Goetze (India) — HRTI Private Limited sold 79,936 shares at Rs 476.27 per share.
- GMM Pfaudler — Persistence Capital Fund I bought 2.40 lakh shares at Rs 1,236.11 per share.
- HEG — HDFC Mutual Fund bought 9.93 lakh shares at Rs 266.21 per share.
- Hikal — HRTI Private Limited bought 64,378 shares at Rs 242.90 per share.
- Hikal — QE Securities LLP sold 10,159 shares at Rs 244.56 per share.
- Hikal — Junomoneta Finsol Private Limited sold 8,133 shares at Rs 244.80 per share.
- Lumino Industries — Junomoneta Finsol Private Limited sold 52,890 shares at Rs 117.53 per share.
- Markolines Pavement Technologies — Vistaar Trading Service Private Limited bought 4,642 shares at Rs 174.12 per share.
- M V Electro Systems — HRTI Private Limited bought 34,418 shares at Rs 810.89 per share.
- M V Electro Systems — Irage Broking Services LLP bought 12,372 shares at Rs 812.54 per share.
- M V Electro Systems — Junomoneta Finsol Private Limited bought 2,474 shares at Rs 812.37 per share.
- M V Electro Systems — QE Securities LLP sold 5,201 shares at Rs 809.61 per share.
- PC Jeweller — HRTI Private Limited bought 1.35 crore shares at Rs 13.45 per share.
- PC Jeweller — QE Securities LLP sold 8.54 lakh shares at Rs 13.28 per share.
- Ruttonsha International Rectifier — Junomoneta Finsol Private Limited sold 9,193 shares at Rs 193.76 per share.
- Shanti Gold International — HRTI Private Limited bought 1.48 lakh shares at Rs 270.57 per share.
- Sunshine Capital — Arihant Capital Markets Limited bought 65,645 shares at Rs 476.91 per share.
- Sunshine Capital — QE Securities LLP sold 14,409 shares at Rs 477.98 per share.
- Technocraft Industries (India) — HRTI Private Limited bought 12,457 shares at Rs 386.89 per share.
- M V Electro Systems — HRTI Private Limited bought 14,910 shares at Rs 800.51 per share.
- M V Electro Systems — Irage Broking Services LLP sold 12,372 shares at Rs 812.70 per share.
- Novartis India — Karan Bhagat bought 1.30 lakh shares at Rs 1,670.52 per share.
- Novartis India — Kyrush Investments sold 1.30 lakh shares at Rs 1,670.50 per share.
- Yash Highvoltage — Twinkle Keyur Shah sold 2.48 lakh shares at Rs 950 per share.
Insider Trading
Paisalo Digital – Santanu Agarwal, Promoter Group, pledged 22,50,000 shares. Sunil Purushottam Agarwal, Promoter, pledged 25,50,000 shares.
IRB Infrastructure Developers – IRB Holding Private Limited, Promoter Group, bought 1,28,91,600 shares.
Indokem – Emerald Capital Services Pvt. Ltd., Promoter Group, sold 500 shares. Khatau Holdings And Trading Company Private Limited, Promoter Group, sold 500 shares.
Aarti Pharmalabs – Safechem Enterprises Private Limited, Promoter Group, sold 30,000 shares.
Sterlite Technologies – Navin Agarwal, Promoter Group, sold 5,000 shares.
Trading Tweaks
Price Band Change From 10% To 5%
Short-Term ASM Framework Stage I
Securities To Be Excluded From ASM Framework
ALSO READ: Trade Setup For Sept 8: Nifty Support Dwindles To 23,600 As Downtrend Deepens | Check Key Levels
F&O Cues
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Nifty September futures down 0.76% at 23,866, at a premium of 97 points.
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Nifty options (September 8 expiry): Maximum Call open interest at 24,000; maximum Put open interest at 23,500.
Securities Under Ban
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