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Sensex Today, Nifty 50 | Stock Market Highlights – Find here all the highlights related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 21 September 2026
Nifty 50 rose 0.29% to 23,414.30 and the BSE Sensex added 0.76% to 74,858.99. They were up 0.35% and 0.81% ahead of the closing auction.
Nifty and Sensex have fallen for six straight weeks, their longest losing streak in six years.
Oil prices fell to their lowest in 11 days as investors bet this week’s UN meeting could yield diplomatic progress, while a partial recovery in Saudi shipments offset supply concerns from continued Houthi attacks.
The NSE’s $2.3 billion IPO closes later on Monday after being fully subscribed on Friday.
Twelve of the 16 major sectors advanced. The broader small-caps and mid-caps fell 0.1% and 0.3%.
* September 21, 2026 16:05
* September 21, 2026 16:04
Julius Baer India has appointed Jayesh Kothari as Chief Human Resources Officer, India, effective 17 September 2026. The appointment comes as the firm accelerates its growth plans in India, with a focus on expanding its relationship manager base and strengthening its mid-office functions. As the business scales, building leadership depth and organisational capabilities will remain a key priority, alongside developing talent from within and creating meaningful career pathways for employees.
* September 21, 2026 16:03
Edelweiss Financial Services Limited (“EFSL”/”Company”), today announced the public issue of Secured Redeemable Non-Convertible Debentures (“NCDs”) of the face value of ₹ 1,000 each for an amount up to ₹ 1,500 million (“Base Issue Size”), with a green shoe option of up to ₹ 1,500 million, cumulatively aggregating up to ₹ 3,000 million (“Issue Limit”).
The Issue has 10 series of NCDs carrying fixed coupons and having a tenure of 24 months, 36 months, 60 months, and 120 months with annual, monthly and cumulative interest options. Effective annual interest yield on the NCDs ranges from 8.64% p.a. to 10.00% p.a.
The Issue is scheduled to open on Monday, September 21, 2026, and close on Monday, October 05, 2026
* September 21, 2026 16:03
RBI has granted perpetual validity to RNFI Money Pvt. Ltd.’s (RNFI Services subsidiary) AD Category-II forex licence, with expanded scope to include trade remittances, Nostro accounts and Forex Correspondents.
This adds to RNFI’s regulated portfolio spanning forex (AD-II), mutual fund distribution (AMFI), insurance broking (IRDAI), stored value (PPI) and physical payments (PA-P) all built on its existing last-mile distribution network.
* September 21, 2026 16:03
SBI Mutual Fund, India’s largest fund house announces the launch of SBI Nifty200 Value 30 ETF FOF, An open-ended fund of fund scheme investing in SBI Nifty200 Value 30 ETF. The New Fund Offer (NFO) period for the scheme is from September 17 – 30, 2026.
The investment objective of the scheme is to seek to provide returns that closely correspond to returns provided by SBI Nifty200 Value 30 ETF. However, there is no guarantee or assurance that the investment objective of the scheme will be achieved.
The scheme would primarily invest a minimum of 95% and upto 100% of its assets in units of SBI Nifty200 Value 30 ETF and up to 5% in Government securities (like G-Secs, SDLs, and treasury bills), including triparty repo and units of liquid mutual fund. The minimum application amount during the NFO is ₹ 5,000 and in multiples of ₹ 1 thereafter with additional purchases of ₹ 1,000 and in multiples of ₹ 1 thereafter. Investments can also be done through daily, weekly, monthly, quarterly, semi-annual, and annual SIPs (Systematic Investment Plans). For more information, please refer to the Scheme Information Document.
* September 21, 2026 16:03
Aikyam Capital Group, a capital-markets platform focused on enabling growth-oriented businesses to access India’s public markets, served as the Co-Underwriter and Market Maker for the Initial Public Offering (IPO) of Om Galaxy Limited, which concluded on September 15, 2026. The IPO was open for subscription from September 10 to September 15, 2026, with a price band of ₹85 to ₹90 per equity share and an issue size of up to ₹105 crore at the upper price band. The equity shares were proposed to be listed on the BSE SME platform, with anchor bidding conducted on September 9, 2026.
The issue received total procurement of ₹150.03 crore and recorded 2.00 times overall subscription. The Qualified Institutional Buyers (QIB) category was subscribed 5.37 times, excluding the QIB anchor portion, while the Non-Institutional Investors (NII) category recorded 1.07 times subscription. The Individual Investor category recorded 0.62 times subscription, while the Market Maker portion was subscribed 1.00 time.
* September 21, 2026 16:01
Aimtron Electronics Limited, an Electronics System Design and Manufacturing (ESDM) and Original Design Manufacturing (ODM) company, announced that its U.S. subsidiary, Aimtron International Controls LLC (AIC), has recorded its highest-ever quarterly order bookings of US$11.8 million during the current quarter of the current financial year.
* September 21, 2026 16:01
Trilegal advised AXISCADES Technologies Limited (“AXISCADES”) on its acquisition of 90% of the shareholding in Cloud Wave Technologies Private Limited (“Cloud Wave”) and its wholly owned subsidiaries, Aureate Polyment Private Limited (“Aureate”) and Protohubs System Solutions Private Limited (“Protohubs”).
* September 21, 2026 16:01
Federal Bank has announced the launch of OneTag – FASTag Portability, a feature that enables customers to switch their FASTag issuer bank to Federal Bank while continuing to use their existing physical FASTag affixed to their vehicle. The feature was unveiled at the Global Fintech Fest 2026 by Shri Nitin Gadkari, marking an important development in India’s digital mobility ecosystem.
* September 21, 2026 16:01
Kirloskar Ferrous Industries Limited (BSE: 500245), one of the leading castings and pig iron manufacturers and a leading player in steel and seamless tubes in India, today announced that its Board of Directors, at its meeting held on 21 September 2026, approved the appointment of Ajay Patil as Joint Managing Director. His appointment is effective from 21 September 2026 to 20 September 2029.
* September 21, 2026 16:01
* September 21, 2026 16:01
* September 21, 2026 15:47
* September 21, 2026 15:46
* September 21, 2026 15:40
* September 21, 2026 15:37
* September 21, 2026 15:36
* September 21, 2026 15:28
* September 21, 2026 15:28
RNFI Services Limited (NSE: RNFI), a last-mile financial infrastructure company, today announced a significant regulatory milestone with the Reserve Bank of India (RBI) approving perpetual validity of the Authorised Dealer Category-II (AD-II) foreign exchange licence held by its wholly-owned subsidiary, RNFI Money Private Limited. The approval also expands the licence to include trade remittances, Nostro accounts and the appointment of Forex Correspondents.
* September 21, 2026 15:21
Onward Technologies announces the renewal of a multi-year Managed Digital Services contract with increased scope valued at ₹44.46 Crore with one of the world’s leading manufacturers of construction and mining equipments. The contract tenure extends from August 2026 to August 2029.
Shares flat at Rs 288 on the NSE.
* September 21, 2026 15:20
* September 21, 2026 15:20
* September 21, 2026 15:07
Shares flat at Rs 422 on the NSE.
* September 21, 2026 15:03
* September 21, 2026 15:03
* September 21, 2026 14:50
“Crude has cooled off after last week’s spike, with Brent easing from around USD 108 to near USD 102, its first weekly decline in three weeks. The main trigger is an easing of Saudi supply fears, as the kingdom has begun routing extra cargoes to Asian buyers through ship-to-ship transfers near the Strait of Hormuz, and higher loadings have calmed worries about a complete export halt after the pipeline attack. For India, a major importer, this is welcome relief. A softer crude bill eases pressure on the import bill, the rupee and imported inflation, and offers some breathing room on the current account. That said, this is relief rather than a reversal, as Brent is still above USD 100 and the geopolitical risk premium remains, so any fresh escalation could quickly undo the fall. The near-term inflation and growth picture improves modestly, but the external risk stays firmly on the radar.”
* September 21, 2026 14:32
Gold and silver ended a shaky week higher after the Fed’s 25-basis-point hike to 3.75%-4.00% came with a hawkish dot plot, while oil, driven by Saudi pipeline disruptions in the Iran war, set the tone for metals. In India, a weaker rupee at 95.863 amplified domestic gains, though jewellery demand stayed soft ahead of Dussehra and Diwali.
PRICE PERFORMANCE
The week started badly and finished well. Spot gold slid to $4,235 on Tuesday, then rallied to close at $4,378, up 0.67%. Silver did most of the work, gaining 2.7% on spot and 3% on COMEX. In rupee terms, MCX gold ended near ₹1.54 lakh per 10 grams and MCX silver near ₹2.41 lakh per kg. What makes this odd is that both metals climbed while the dollar index gained 1.1% and the US 10-year yield brushed 5%. Buyers stepped in on every dip, and a slide in oil from Wednesday gave them a reason to keep going.
Technical Outlook
Spot gold is trading in a $4,250-$4,450 (~ Rs 150,000-154,000) range with a bullish bias. Buy on dips near support and sell into rallies. A break above the upper resistance could open the way to $4,600-$4,700 (~ Rs 160,000-165,000).
Spot silver is trading in a $62.5-$67.5 (~ Rs 230,000-242,000) range, also with a bullish bias. The approach is the same: buy dips near support and sell rallies. A break above resistance could take it toward $70-$71 (~ Rs 250,000).
* September 21, 2026 14:17
* September 21, 2026 14:16
* September 21, 2026 14:03
Market at day’s high; Sensex climbed 686.92 pts or 0.92% to 74,981.88 at 2 pm. Nifty 50 gained 117.85 pts or 0.50% to 23,464.25
* September 21, 2026 13:58
Marine Electricals (India) has expanded its manufacturing and operational capacity with the launch of its new plant at Goa.
Shares surged 3% to Rs 389.40 on the NSE.
* September 21, 2026 13:56
India imports nearly 88% of its crude oil requirements, making the economy highly sensitive to sustained increases in energy prices. Estimates suggest that a 10% rise in oil prices can add roughly 30 to 40 basis points to inflation and reduce GDP growth by around 20 basis points. With Brent near or above $100 a barrel, the key risks are a higher import bill, a wider current account deficit, less fiscal flexibility if the government cushions consumers, and tighter corporate margins.
The rupee is another important transmission channel. Higher crude increases dollar demand from refiners and oil marketing companies at a time when capital flows remain sensitive to elevated global yields. With USD/INR around 95.8, persistently high oil prices would maintain depreciation pressure, although RBI intervention and foreign inflows can moderate the pace. Volatility matters almost as much as the level because it complicates hedging and import planning.
For equities, the impact varies by sector. Aviation, paints, tyres, chemicals, logistics and oil marketing companies face margin pressure, while upstream producers benefit. A weaker rupee also supports export-oriented sectors such as IT and pharmaceuticals. The key variable is duration: a temporary spike is manageable, but a sustained period above $100 would increasingly affect inflation, interest rates, corporate earnings and valuations. Balance-sheet strength, pricing power and low energy intensity therefore become critical.
* September 21, 2026 13:53
Diamond Power Infrastructure received orders from Polite Powertech Limited aggregating ₹116.49 crore (including GST; ₹98.72 crore excluding GST) for the supply of 11 kV XLPE power cables for underground distribution projects in Gujarat.
* September 21, 2026 13:50
Indian Oil Corp has accorded investment approval for Laying, Building, Operating Kochi-Kanyakumari-Thoothukudi Natural Gas Pipeline (KTPL) at an estimated project cost of Rs. 2,448.70 crore.
Shares flat at Rs 137.02 on the NSE.
* September 21, 2026 13:33
* September 21, 2026 13:33
* September 21, 2026 13:26
* September 21, 2026 13:25
Kirloskar Ferrous Industries has co-opted Mr. Ajay Shriram Patil as an Additional Director on the Board and further appointed him as the Joint Managing Director for a term of three years effective from 21 September 2026, subject to the approval of Members of the Company.
* September 21, 2026 13:25
PNGS Gargi Fashion Jewellery has opened its exclusive brand store at Boulevard Walk Mall, Greater Noida (West) on September 20, 2026
* September 21, 2026 13:25
GK Energy has received a Letter of Award from Maharashtra State Electricity Distribution Company Limited for setting up 150 MW / 300 MWh Battery Energy Storage Systems (BESS) in Maharashtra
Shares traded 6% higher at Rs 127.15 on the NSE.
* September 21, 2026 13:24
LTM Collaborates with Shekhar Kapur to Reimagine AI-Powered Storytelling
Shares flat at Rs 4284.30 on the NSE.
* September 21, 2026 12:59
* September 21, 2026 12:59
Clean Max Enviro Energy Solutions board approved:
Sale of 2,600 shares of Clean Max Kyuu Private Limited, a wholly owned subsidiary to Strata Geosystems (India) Private Limited;
Sale of 2,600 shares of Clean Max Roku Private Limited, a wholly owned subsidiary to Goodluck India Limited
Shares traded at Rs 1319 on the NSE.
* September 21, 2026 12:47
* September 21, 2026 12:42
* September 21, 2026 12:42
Shiram Finance board approved to make a tender offer to purchase for cash (i) up to U.S.$300,000,000 of U.S.$750,000,000 6.625 per cent. Senior Secured Notes due 2027 and (ii) up to U.S.$160,000,000 of U.S.$500,000,000 6.15 per cent. Senior Secured Notes due 2028 (collectively, the “Notes”) issued by the Company under the USD 3,500,000,000 Global Medium Term Note Programme (“GMTN Programme”) of the Company.
* September 21, 2026 12:10
* September 21, 2026 12:07
Dr Reddy’s Laboratories surged 2% to Rs 1205.60 on the NSE, after it secured a royalty-free voluntary licensing agreement with Gilead Sciences for once-yearly Lenacapavir to prevent HIV across 120 nations
* September 21, 2026 12:06
Desco Infratech has been empaneled by New & Renewable Energy Development Corporation of Andhra Pradesh Limited (NREDCAP), a State Government Company, as an approved supplier for Supply, Installation & Commissioning of Grid Connected Solar Rooftop PV Power Plants ranging from 1 KWp to 500 KWp at various locations in Andhra Pradesh under the Solar Rooftop Net Metering Policy.
* September 21, 2026 12:05
* September 21, 2026 12:04
Upgrade to OW from EW, TP raised to Rs 886
IHCL has created a unique multi-brand hospitality ecosystem that delivers low to mid-teens revenue growth, mid- to highteens ROCE and a strong FCF profile.
Q2 STR RevPAR strength indicates the higher-for-longer industry RevPAR cycle thesis is intact.
* September 21, 2026 12:04
Recommendation: Overweight, Target: ₹395
NIM improvement remains a key strategic priority
Growth guidance intact at 23-25%
Asset quality benign despite macro headwinds
Flexi-book in focus; net exposure <5% FCNR impact is nuanced * September 21, 2026 12:04 Recommendation: Buy, Target: ₹4,500 Sandoz gets approval to launch generic semaglutide in Canada Sandoz will launch in 3 strength doses through pen format Positive for Shaily given dominant Canadian pen market share Keeps company on track to exceed FY27 guidance UBS estimates 40 mn pens versus 36 mn guidance * September 21, 2026 12:04 Recommendation: Overweight, Target: ₹10,545 Preparing for entry of new cable brand Ultravolt Expects larger impact on smaller unorganized players As ~30-35% of wires are unorganized vs. ~10% in cables C&W - industry margins are lower, limiting scope to gain share purely through aggressive pricing Ultravolt's initial ~Rs18bn capex looks modest relative to Polycab's existing scale Though Polycab does not rule out further capex over time * September 21, 2026 12:03 Recommendation: Buy, Target: ₹250 Powering payments: Monetization in motion! Strong roots, expanding canopy of products At the intersection of multiple monetization rails DITP to remain the key earnings engine, with monetization driving growth Merchant expansion to shift toward the long tail * September 21, 2026 12:03 FSSAI initiates regulatory action on infant nutrition products Claims related to HMOs and digestibility under scrutiny Three separate adjudication cases filed against company Milk products and nutrition contribute one-third of sales Nutrition segment contributes higher share of profitability * September 21, 2026 12:03 Buy, TP Rs 1070 Ramco Cements' operating performance has been impacted by multiple headwinds over last two years. These include (1) heightened competitive intensity in core market of South (~75-80% volume mix) triggered by a slew of M&As, (2) muted demand scenario in South, (3) limestone mining cess in Tamil Nadu and (4) a stretched balance sheet Co is now witnessing a broad-based relief across these parameters. Importantly, Ramco's recent foray into quartzite - following the discovery of reserves within its existing limestone mine in AP - opens a differentiated, high-return optionality. Subject to silica purity and resource characteristics, quartzite could allow Ramco to participate across natural stone/slabs, industrial abrasives and other higher-value silica applications. Believe quartzite scale-up and its ongoing construction-chemicals expansion could potentially contribute to 25% of its EBITDA by FY32E (vs ~5% mix in FY27E). With 1yr fwd. EV/EBITDA at 13x (lower than its historical average of 15x), reckon that quartzite optionality is not factored in currently, and a potential scale-up could trigger valuation re-rating * September 21, 2026 12:03 Upgrades to BUY from Neutral; Target Price ₹146, implying 25% upside Strong volume growth expected, supported by a favourable base in September 2026 North India entry and plant stabilisation seen supporting medium-term growth Fujairah expansion to drive earnings, while maintaining leverage discipline Business transitioning towards a more diversified, integrated and geographically balanced cement player Clinker capacity expected to rise from 9.7 MTPA to 13 MTPA Variable costs expected to decline as the North India plant stabilises MOSL estimates ~20% revenue, ~20% EBITDA and ~15% PAT CAGR over FY26-28 * September 21, 2026 12:03 Recommendation: Buy, Target: ₹14,200 Industry leading profitability, volume growth to continue; price hikes to offset cost increase Disagrees profitability-versus-market-share investor concern Cement price increases in Sept, likely to pass on variable cost push India presence, size, and scale should support valuation premiums Multiple de-rating not justified given industry leading volume growth, profitability and market share 1-year forward EV/EBITDA multiple has de-rated from a peak 1-year forward EV/EBITDA multiple of 26x to 13.7x currently * September 21, 2026 12:02 IT services demand remains weak despite broadly robust tech spending AI led deflation has become more broad based and could continue for another 1-2 years IT services firms can help clients customise AI solutions, while specific jobs may not require frontier models GCCs continue to grow faster than IT services companies, bringing more work in house Enterprises are still working out pricing models for AI driven services contracts Competition remains elevated across both new deals and renewals Goldman Sachs' tour covered 10 corporates and experts across IT, GCCs and consumer internet * September 21, 2026 12:02 Takeaways from India Semicon Event Kaynes planning $1 billion OSAT investment under ISM 2.0 Kaynes investment would be three times ISM 1.0 commitment Watch out for a potential announcement by Kaynes on its application for OSAT Kaynes, CG Power, Micron, CDIL and Suchi Semicon are exporting chips also supplying them domestically These chips are able to compete on both cost and quality vs. global peers * September 21, 2026 12:02 Initiate Buy, TP Rs 175 LEAP operates India's largest pooled logistics-asset network, offering pallets, containers & material-handling equipment across the supply chain on a rental model See LEAP as a play on the modernisation of Indian logistics, supported by low palletisation & pooling penetration, increasing warehouse formalisation & rising demand for supply-chain efficiency Est. 19% revenue CAGR and 21% EBITDA CAGR over FY26-31E, with growing mix of movement hire improving pallet yields and asset productivity. As a result, expect EBITDA margins to increase from 49.5% to 53.8% & ROCE to rise from 8.4% to 14.7% over FY26-31 LEAP's nationwide network and scale advantages position it to capture industry growth, while delivering improving returns and free cash flow * September 21, 2026 12:02 Recommendation: Outperform, Target: ₹5,481 Delivery, delivery, delivery; The best is ahead Believe that the best is yet to come in 2H HAL is the cheapest pure-play defence stock despite a sector leading position Trading at deserved premium to global aerospace peers Received 10 GE F404-IN20 engines and expects to deliver 10 Tejas Mk-1A aircraft by March GE has committed to supplying another 12 engines by December * September 21, 2026 12:02 Buy, TP Rs 6175 HAL handed over final two LCA FOC trainers, three HTT-40s and four Dhruv NG helicopters to end users, demonstrating broadening execution breadth across fighter trainers, basic trainers and civil helicopters. Encouragingly, execution on Dhruv NG appears to be progressing well & remains on schedule On Tejas LCA Mk1A, management now expects deliveries of 10 aircraft by Mar27 as final software modifications and testing continue. Engine availability has improved, with 10 F404 engines received and further expected, supporting management's targeted delivery ramp. Overall, progress across multiple platforms provides incremental comfort on broader medium-term delivery ramp, while incremental progress on engines and testing should narrow remaining Mk1A execution overhang. * September 21, 2026 12:02 Buy, TP Rs 5870 HAL is set to hand over Light Combat Aircraft (LCA) Tejas Final Operational Clearance (FOC) twin-seater trainers & HTT-40 basic trainer aircraft to the Indian Air Force, alongside Dhruv NG helicopters to Pawan Hans Limited (PHL) Handover spans fighter/trainer aircraft & helicopters & provides another tangible data point that execution across HAL's manufacturing portfolio is beginning to pick up Key points: 1) deliveries are picking up across platforms, with the latest handovers spanning fighter/trainer aircraft and helicopters; 2) this comes alongside improving engine availability for the LCA Mk1A programme, with GE recently delivering another three F404 engines; and 3) with supply constraints gradually easing and aircraft moving through production/testing into deliveries, we expect the focus to increasingly shift towards execution and conversion of HAL's large order backlog into revenues; 4) the development is also consistent with the government's continued emphasis on indigenous design, development, and manufacturing in aerospace and defense. * September 21, 2026 12:01 Buy, TP Rs 5840 Mgmt highlighted near-term industry rationalisation, with airlines prioritising profitability over growth amid elevated costs. Mgmt keeps capacity growth (flattish YoY for 2Q) and PRASK guidance (~25%) unchanged. Mgmt sees recent fare hikes as partly sticky, supporting medium-term revenue quality. Cost actions & mgmt transition remain on track, while the strong BS supports IndiGo's FY30 growth ambitions. * September 21, 2026 12:01 Buy, TP Rs 3910 Mgmt remains constructive on Opus Paints, targeting 50%+ growth in FY27 and profitability by FY28 exit. VSF profitability is supported by healthy demand and disciplined industry capacity additions. Birla Pivot targets EBITDA breakeven by end-FY27, while renewable subsidiary is scaling rapidly. Balance sheet remains well controlled, with Net Debt/EBITDA targeted below 2x. * September 21, 2026 12:01 Buy, TPRs 990 Management remains confident of scaling its Passenger Rail business (PRS) over FY26-30E, driven by strong order book, execution pickup, & government's railway modernization plans, including High Speed Rail (HSR). Freight Rail (FRS) should remain steady, with potential order inflows in FY27E See Titagarh as a key beneficiary of India's passenger rail upcycle, & estimate 44% FY26-30 EPS CAGR led by strong PRS Order Book. * September 21, 2026 12:01 Buy, TP Rs 395 Forum takeaways Management reiterated its target to double EBITDA over FY26-28E, led by Ports / Logistics capacity additions. Execution remains on track for 61% capacity addition targeted in FY27E vs. FY26. 2.2x capacity rise target over FY26-30E to 400 mnt by FY30E was maintained. Logistics ambitions are gaining traction, with terminal / rake additions. 25% + FY26-30E EBITDA CAGR visibility remains, driven by JSWI and JSW group capacity addition plans. * September 21, 2026 12:01 Buy, TP Rs 135 Forum takeaways Mgmt discussed GMR's evolution from a pure airport operator into a broader airport infra, consumer & RE platform. Key takes include significant pax growth headroom, scaling of non-aero businesses, value-unlocking across its >3,000-acre land bank, & a sharper focus on deleveraging, capital discipline & returns.
* September 21, 2026 12:00
Buy, TP Rs 720
Forum Takeaways
Management is confident of achieving 3 GW organic capacity addition in FY27E, which compares to our assumption of 2.2 GW.
FY27YTD company has added 1.3 GW organic renewable (RE) capacity and acquired a 300 MW thermal plant
Believe execution ramp-up could support further multiple re-rating for JSW Energy (JSWE), given the guidance miss in FY26 and spillover to FY27E
Believe JSWE could deliver 17% EBITDA CAGR over FY26-30E on execution uptick.
* September 21, 2026 12:00
Buy, TP Rs 6150
Forum takeaways
Management reiterated its outlook of 20% medium-term revenue CAGR as demand trends remain strong in domestic and export markets.
They highlighted that given the industry is growing 13-14%, incremental competition can be absorbed.
Confidence on FY27E 25% YoY revenue growth and 11-12% EBITDA margin was maintained
Believe that 19-20% earnings growth is intact as power transmission cables should contribute to revenue and profit growth ahead
* September 21, 2026 12:00
Buy TP Rs 440
Forum Takeaways
Emmvee sees demand of 70GWdc in FY27 with demand outstripping supply of DCR.
DCR economics remain attractive.
Modules/cell capacity is expanding by 6GW each, with 9GW ingot-wafer integration targeted by FY29-30
Management expects net debt/equity to peak at 0.75x before declining
Forecast 33% Ebitda Cagr over FY26-29E.
Stock trades at 7x forward EV/Ebitda — at 25% discount to peers.
* September 21, 2026 12:00
U-P, TP Rs 335
Forum takeaways
Management reiterated its guidance of adding 2.5 GW renewable energy (RE) capacity in FY27E and remained confident in the growth prospects of its rooftop solar business.
For Mundra plant, management expects additional supplementary PPAs to be signed soon, apart from Gujarat supplementary PPA signed in March 2026
Remain concerned about execution delays and Mundra plant issues and prefer JSW Energy, Adani Energy Solutions and NTPC
* September 21, 2026 12:00
Buy, TP Rs 1000
Add HDFC Bank to UBS APAC Key call list
Expect HDFCB’s leadership issues to be resolved in coming weeks post submission of names to RBI for CEO
Some of bear case scenarios around leadership are in price & believe resolution of leadership uncertainty should drive a re-rating
Believe market is underappreciating strong branch expansion by company over the last 3-4 years which should support strong deposit growth ahead of peers.
Moreover, 42% of its branches are less than five years old (vs 5-30% for other large banks), which should drive improved productivity as these branches mature
Saw early signs of a recovery in loan growth (15.6% in Q1FY27) and expect deposit growth to remain healthy, supported by RBI measures and improved liquidity
Expect loan growth to improve towards 15% over FY27-29E and expect margins to improve towards 3.5%, driven by faster growth in high-yielding retail loans
Expect RoA to improve to 1.9% in FY27/28E.
As such, risk-reward appears favourable at 1.4x FY28E P/BV
* September 21, 2026 11:59
Edelweiss Financial Services Limited has announced ₹3,000million Public Issue of Secured Redeemable Non-Convertible Debentures (NCDs)
* September 21, 2026 11:58
Cohance Lifesciences informed completion of USFDA Inspection at Company’s API manufacturing facility at Jaggaiahpet, Andhra Pradesh, with the issuance of a Form FDA 483 containing five observations.
Shares flat at Rs 438.85 on the NSE.
* September 21, 2026 11:40
* September 21, 2026 11:39
* September 21, 2026 11:27
Piramal Finance board approved allotment of 1,10,000 Secured, Rated, Listed, Redeemable, NCDs amounting Rs. 1100 crore on Private Placement basis.
* September 21, 2026 11:26
Manipal Health Enterprises fully redeems ₹5,310 crore NCDs issued by subsidiary; shares flat on NSE
* September 21, 2026 11:09
Manipal Health Enterprises fully redeemed the outstanding listed non-convertible debentures (NCDs) of nominal value ₹5,310 crore issued by its wholly owned subsidiary, Manipal Hospitals Private Limited.
Shares flat at Rs 741.45 on the NSE.
* September 21, 2026 11:08
* September 21, 2026 10:57
TD Power Systems approved the allotment of 12,50,000 Equity Shares of face value ₹1 each at an issue price of ₹600/- per Equity Share, aggregating to ₹75 CRORE on preferential basis
* September 21, 2026 10:54
* September 21, 2026 10:54
Dilip Buildcon has been declared as L-1 bidder by REC Power Development and Consultancy Limited (RECPDCL) for “Development and Operation of Intra State Transmission System for Transmission of Electricity Through Tariff Based Competitive Bidding for Establishment of 400 KV Gis Solapur/ Paranda Switching Station
Shares flat at Rs 428 on the NSE
* September 21, 2026 10:47
* September 21, 2026 10:45
Bosch has received an adjusted Environmental, Social, and Governance (ESG) score of 71.6 (scale in the range of above average).
Shares up 2% to Rs 47,765 on the NSE.
* September 21, 2026 10:41
* September 21, 2026 10:37
Samvardhana Motherson International approved the purchase by Samvardhana Motherson Adsys Tech Limited (“SMAST”), a wholly owned subsidiary of the Company, of 50.1% equity stake in Rotary Connectors Private Limited (“RCPL”) from existing shareholders of RCPL.
Shares flat at Rs 161.56 on the NSE.
* September 21, 2026 10:35
* September 21, 2026 10:33
Himadri Speciality Chemical Limited has informed the Exchange about Scheme of Arrangement between Dalmia Bharat Refractories Limited ( Demerged Company ) and Himadri Speciality Chemical Ltd ( Resulting Company ) and their respective shareholders and creditors under Section 230-232
Shares up 2% to Rs 687.90 on the NSE.
* September 21, 2026 10:30
* September 21, 2026 10:27
* September 21, 2026 10:10
NIBE Group and Naval Group, France, have signed an MoU for modern naval technologies
Nibe Ltd jumped over 7% to Rs 1381.50 on the NSE.
* September 21, 2026 10:07
* September 21, 2026 09:55
Escorts Kubota: Manish Sharma has been appointed as ‘President-Agri Business’ (Senior Management Personnel) of the Company with effect from September 21, 2026.
* September 21, 2026 09:50
* September 21, 2026 09:49
Magellanic Cloud’s Wholly Owned Subsidiary Provigil Surveillance Limited Receives Purchase Order Worth Rs 44.60 Lakh from Nayara Energy Limited
Shares flat at Rs 25.42 on the NSE.
* September 21, 2026 09:49
Biocon’s Pertuzumab Becomes First Biosimilar to Secure EMA CHMP Approval Recommendation Under New Tailored Clinical Approach
Shares up 2% to Rs 392 on the NSE.
* September 21, 2026 09:49
Premier Energies Commissions India’s Largest Solar Cell Facility, becomes largest Cell manufacturer with 10.6 GW capacity
Shares flat at Rs 908.50 on the NSE
* September 21, 2026 09:48
Welspun Corp’s aassociate Company East Pipes Integrated Company for Industry (EPIC), a listed entity in the Kingdom of Saudi Arabia (KSA), has today announced to the Saudi Stock Exchange, a contract sign off with Saudi Arabian Oil Co. (Aramco) for manufacturing and supply of steel pipes for total value exceeding 771 million SAR (Approx. INR 2,000 Crore) including value added tax.
Shares up 2% to Rs 2704 on the NSE.
* September 21, 2026 09:47
* September 21, 2026 09:47
Avenue Supermarts has opened a new store at Narmadapuram, Madhya Pradesh today. The total number of stores as on date stands at 512.
Shares flat on the NSE at Rs 3755 on the NSE.
* September 21, 2026 09:46
GMR Airports: Delhi International Airport Limited (“DIAL”), Subsidiary of the Company, had appealed against the Tariff Order issued by the Airports Economic Regulatory Authority of India (“AERA”) determining the aeronautical tariff for Indira Gandhi International Airport for the Fourth Control Period commencing on 01.04.2024 and ending on 31.03.2029, before the Telecom Disputes Settlement and Appellate Tribunal (“TDSAT”).
Shares flat at Rs 99.26 on the NSE.
* September 21, 2026 09:45
Brent crude oil futures traded below $102 a barrel on Monday morning on hopes that diplomatic efforts could help ease tensions in West Asia. At 9.41 am on Monday, November Brent oil futures were at $101.74, down by 2.05 per cent, and October crude oil futures on WTI (West Texas Intermediate) were at $98.12, down by 2.17 per cent. September crude oil futures were trading at ₹9421 on Multi Commodity Exchange (MCX) during the initial hour of trading on Monday against the previous close of ₹9659, down by 2.46 per cent, and October futures were trading at ₹9034 against the previous close of ₹9223, down by 2.05 per cent.
* September 21, 2026 09:44
Top gainers of Nifty 50: Sun Pharma (+1.93%), HDFC Life (+1.80%), HUL (+1.67%), Tata Consumer (+1.49%)
Top losers: Adani Ports (-2.61%), Bharti Airtel (-2.61%), Infosys (-1.95%), Wipro (-1.85%), Power Grid (-0.87%)
* September 21, 2026 09:40
* September 21, 2026 09:33
* September 21, 2026 09:32
Darshan Desai, CEO, Aspect Bullion & Refinery.
“Gold is starting the new week on a cautious note after a few volatile sessions. The market is balancing the impact of the recent US rate hike and expectations of higher rates with softer crude prices and continued geopolitical uncertainty.
While gold ended last week with modest gains, prices remain sensitive to the US dollar and bond yields.
In India, physical demand remains steady but measured, as buyers are closely watching prices at current high levels.
With the ongoing festive season, we expect buying interest to gradually pick up, especially as consumers and jewellery retailers prepare for the period.
However, buyers are likely to remain selective and may spread their purchases over time. Overall, demand remains healthy, and the festive season should provide further support to the domestic bullion market in the coming weeks.”
* September 21, 2026 09:30
* September 21, 2026 09:21
Sensex traded 423.17 pts or 0.57% higher at 74,718.13 at 9.17 am after opening at 74,535.18 from 74,294.96 previous close. Nifty 50 was up 39.20 pts or 0.17% to 23,385.60.
* September 21, 2026 09:05
* September 21, 2026 09:03
Crypto markets staged a recovery over the past week, with Bitcoin climbing 5% to reclaim the $81K level after briefly falling below $75K. The broader market capitalization also recovered above $2.8 trillion, approaching $2.9 trillion during the rally. Altcoins outperformed, led by Hyperliquid and Zcash, which reached new highs after gaining 36%. Ethereum also strengthened, with the ETH/BTC breakout pointing to renewed interest in large-cap altcoins. Overall, improving market breadth and few altcoin performance suggest sentiment has turned more constructive following the sharp correction earlier in September said CoinSwitch Markets Desk
* September 21, 2026 09:03
Bitcoin has staged a strong rebound, climbing from below $75,000 on Tuesday to above $81,000 over the weekend. The move was supported by regulatory developments, including an SEC exemption for tokenized-stock trading and new CFTC crypto proposals sent for White House review, improving market sentiment. A sharp swing in oil prices also helped trigger a short squeeze. Meanwhile, spot Bitcoin ETFs returned to net positive weekly inflows, led by a $433 million inflow on Friday. On-chain momentum strengthened as the 50-day moving average crossed above the 200-day, forming a golden cross that has historically appeared near bear-market bottoms. BTC now faces resistance at $83,000-$85,000, with support near$77,700 said Prateek Gupta, Head of Business, Mudrex.
* September 21, 2026 09:03
Harish Vatnani, Head of Trade, ZebPay
“BTC is maintaining a bullish structure on the daily chart. After forming a major base around $58,000-$67,000, BTC broke above the $67,000 resistance with a strong expansion in both price and volume.
Following the breakout, BTC rallied sharply toward the $82,000-$83,000 resistance zone. Price then entered a consolidation phase between approximately $76,000 and $82,000, with buyers repeatedly defending the lower support area.
The current structure represents a bullish consolidation near the upper end of the recent range. BTC is now testing the upper resistance around $82,000-$82,500, making a decisive breakout above this zone important for further bullish continuation.
Technical Analysis
Bullish Breakout & Consolidation Formation
The chart clearly shows:
\u0009*\u0009Base: Major consolidation between approximately $58,000-$67,000.
\u0009*\u0009Breakout: Strong breakout above $67,000, supported by significant volume expansion.
\u0009*\u0009Impulse: BTC moved rapidly from around $67,000 to $76,000+, eventually extending toward the $82,000-$83,000 resistance zone.
\u0009*\u0009Consolidation: Price has subsequently been consolidating primarily between $76,000-$82,500.
\u0009*\u0009Support: The $76,000-$76,500 zone has acted as strong demand, with multiple reactions from this area.
\u0009*\u0009Resistance: The $82,000-$82,500 region has repeatedly acted as an overhead supply zone.
\u0009*\u0009Volume: Volume expanded significantly during the initial breakout from the $67,000 area and subsequently moderated during consolidation. A renewed increase in volume during a breakout above $82,000-$82,500 would provide stronger confirmation of bullish continuation.
The recent recovery from the $76,000 region toward $82,000+ indicates that buyers remain active, although BTC is now approaching an important resistance area where selling pressure could increase or it can easily break the resistance and sustain above that if volume is huge.
Outlook
The daily chart maintains a bullish bias, with BTC consolidating near the upper end of its recent range.
The $82,000-$82,500 resistance zone is the most important level to watch. A strong daily breakout above this zone, preferably accompanied by increasing volume, could confirm continuation of the bullish structure and open the path toward $85,000, followed by $88,000-$90,000.
Based on the height of the current consolidation range, a sustained breakout could potentially extend toward the $94,000-$96,000 region over a longer timeframe, although this would require continued momentum and successful follow-through above the intermediate resistance levels.
On the downside, a break below the $80,000-$80,500 area would indicate weakening short-term momentum and could bring the $76,000-$76,500 support zone back into focus. A sustained move below $76,000 would further weaken the current bullish setup and could expose $73,000-$74,000.
A deeper breakdown below the $73,000-$74,000 region could bring the previous $67,000-$68,000 breakout zone into focus.
At the time of writing, BTC is trading at approximately $81,278, with the current daily candle having traded between approximately $80,850 and $82,100.
Summary
BTC remains bullish on the daily timeframe. The chart shows a strong breakout from the $58,000-$67,000 base, followed by an impulsive move toward $82,000-$83,000 and subsequent consolidation around $76,000-$82,500.
A strong daily breakout above $82,000-$82,500, particularly with increasing volume, could confirm bullish continuation toward $85,000, followed by $88,000-$90,000, with an extended upside target around $94,000-$96,000.
The setup would begin to weaken below $80,000-$80,500, while a decisive break below $76,000 could lead to a deeper correction toward $73,000-$74,000. A larger structural breakdown below this area could bring the $67,000-$68,000 region back into focus.”
* September 21, 2026 09:01
* September 21, 2026 08:54
Riya Sehgal, Research Analyst, Delta Exchange
Crypto markets have shown notable resilience despite a difficult macro and policy backdrop, with Bitcoin holding above $81,000 and Ether near $2,660 after a sharp recovery from last week’s lows.
The rebound has been supported by easing oil prices and improving ETF demand into the end of the week. U.S. spot Bitcoin ETFs ultimately finished the week with a marginal $6.2 million net inflow after heavy midweek redemptions were offset by strong Thursday and Friday buying. Ether ETFs were weaker, ending the week with roughly $140 million in net outflows.
Technically, Bitcoin has reclaimed all major 4-hour moving averages, but the $81,800-$82,500 region remains the key resistance zone. A sustained break above this area could open the way toward $83,000-$84,000, while $80,000 remains the first important support.
Ether is showing a similar structure, trading above its major 4-hour averages but approaching resistance around $2,700-$2,740. Overall, the recovery remains constructive, but with Treasury yields still elevated, policy uncertainty lingering after the CLARITY Act setback, and leverage still high, the next move is likely to depend on whether BTC can convert the $82,000 area from resistance into support.
* September 21, 2026 08:30
Target ₹395
Recommendation Overweight
KEY TAKEAWAYS
NIM improvement remains a key strategic priority
Growth guidance intact at 23-25%
Asset quality benign despite macro headwinds
Flexi-book in focus; net exposure <5% FCNR impact is nuanced * September 21, 2026 08:30 (CMP: 11,014) MAINTAIN BUY TARGET PRICE: 14,200 Disagree With The View That UltraTech Is Prioritising Market Share Over Profitability Recent September Cement Price Hikes Should Help Pass On Variable-cost Inflation Expect UltraTech To Deliver On Its March-28 Target Pan-India Presence, Scale & Size Should Continue To Support Valuation Premium * September 21, 2026 08:30 Target ₹6175 Recommendation Buy KEY TAKEAWAYS Execution broadening across platforms Multiple handovers demonstrate improving breadth of execution Dhruv NG execution is progressing well and establishes a valuable civil reference HTT-40 creates another scalable production stream, execution delays notwithstanding * September 21, 2026 08:29 KEY TAKEAWAYS FSSAI initiates regulatory action on infant nutrition products Claims related to HMOs and digestibility under scrutiny Three separate adjudication cases filed against company Milk products and nutrition contribute one-third of sales Nutrition segment contributes higher share of profitability * September 21, 2026 08:29 Target ₹4,500 Recommendation Buy KEY TAKEAWAYS Sandoz gets approval to launch generic semaglutide in Canada Sandoz will launch in 3 strength doses through pen format Positive for Shaily given dominant Canadian pen market share Keeps company on track to exceed FY27 guidance UBS estimates 40 mn pens versus 36 mn guidance * September 21, 2026 08:27 Takeaways from India Semicon Event Kaynes planning $1 billion OSAT investment under ISM 2.0 Kaynes investment would be three times ISM 1.0 commitment Watch out for an potential announcement by Kaynes on its application for OSAT Kaynes, CG Power, Micron, CDIL and Suchi Semicon are exporting chips also supplying them domestically These chips are able to compete on both cost and quality vs. global peers * September 21, 2026 08:27 ▲ 𝗖𝗢𝗡𝗧𝗥𝗔𝗖𝗧 𝗪𝗜𝗡𝗦 * 𝗧𝗘𝗚𝗔 -- Subsidiary wins ₹1,260 Cr industrial contract * 𝗕𝗘𝗠𝗟 -- ₹5,400 Cr order for high-speed rail project * 𝗞𝗠𝗘𝗪 -- ₹279.33 Cr green tug vessel construction contract * 𝗪𝗲𝗹𝘀𝗽𝘂𝗻 𝗘𝗻𝘁𝗲𝗿𝗽𝗿𝗶𝘀𝗲𝘀 -- ₹351.24 Cr sewer rehabilitation projects * 𝗥𝗩𝗡𝗟 -- ₹404.88 Cr infrastructure order from East Coast Railway * 𝗠𝗮𝘇𝗮𝗴𝗼𝗻 𝗗𝗼𝗰𝗸 -- Deal signed for shipbuilding cluster in Andhra Pradesh * 𝗪𝗲𝗹𝘀𝗽𝘂𝗻 𝗖𝗼𝗿𝗽 -- Associate gets ₹2,000 Cr steel pipe supply contract 𝗠𝗜𝗖𝗥𝗢𝗖𝗔𝗣𝗦 * 𝗗𝗠𝗥 -- ₹70 Cr hydro project contract * 𝗠𝗲𝘁𝗵𝗼𝗱𝗵𝘂𝗯 -- ₹161 Cr telecom infrastructure orders * 𝗘𝗮𝘀𝘁 𝗜𝗻𝗱𝗶𝗮 -- ₹59.27 Cr supply orders * 𝗛𝗮𝘇𝗼𝗼𝗿 -- ₹207.45 Cr Chennai project order * 𝗛𝗘𝗚 -- ₹217.56 Cr lithium-ion battery bank orders * 𝗖𝗼𝘀𝗺𝗶𝗰 𝗖𝗥𝗙 -- ₹31.84 Cr structural steel orders * 𝗞𝗦 𝗦𝗺𝗮𝗿𝘁 -- ₹127.12 Cr IT infrastructure order * 𝗖𝗿𝘆𝗼𝗴𝗲𝗻𝗶𝗰 -- ₹19.36 Cr first independent export order * 𝗥𝗲𝗳𝗲𝘅 -- ₹160 Cr contract for 10 MT pond ash * 𝗣𝗜𝗚𝗟 -- ₹6.06 Cr solar panel supply order * 𝗭𝗼𝗱𝗶𝗮𝗰 -- Orders for 24,760 KWp solar projects * 𝗨𝗡𝗜𝗗𝗧 -- ₹4.78 Cr ONGC order for stabilizer * 𝗖𝗵𝗶𝗿𝗮𝗵𝗮𝗿𝗶𝘁 -- ₹59.60 Lakh irrigation system order * September 21, 2026 08:27 Nischal Shetty, Founder, WazirX "Bitcoin surged past the $80,000 threshold following the September 2026 FOMC meeting because the 25-basis-point rate hike to a 3.75%-4.00% target range had already been fully priced into the market. Rather than triggering a sell-off, the conclusion of the highly anticipated Federal Reserve meeting removed macro uncertainty, sparking a relief rally driven by institutional demand. Bitcoin is trading around $81,200 while Ethereum is near $2,660, with both assets having recovered strongly over the past week. Analysts are watching $80,000 as a key near-term support for BTC, with $78,000 and $75,000 below it, while resistance is being mapped around $82,000 and the $84,000-$86,000 zone. For ETH, $2,515 and $2,400 are key support areas, while $2,650-$2,800 remains the resistance band traders are monitoring. The current macro backdrop looks moderately supportive for crypto, primarily because traditional risk sentiment is constructive and some inflationary pressure appears to be easing. S&P 500 (+0.17%) and Nasdaq (+0.39%) are higher, while the Dow is only marginally lower. For crypto, strength in equities is generally supportive because it suggests investors are still willing to hold higher-risk assets. Oil at $98.20 (-2.09%) is the biggest positive. A meaningful decline in oil reduces some of the inflation pressure that has been concerning markets. The crypto market is leaning modestly risk-on. Total market capitalization stands at $2.78 trillion, up 0.32%, while the CMC20 index of the top 20 assets is at $171.08, up 0.59%. The Fear & Greed Index reads 72, in the greed zone and only a few points shy of the extreme greed threshold. Institutional demand is the most supportive datapoint. Bitcoin and Ethereum ETFs recorded net inflows of $625.26 million, pointing to real spot buying rather than leveraged speculation. MicroStrategy's Bitcoin buying pause is once again drawing attention after Michael Saylor's latest 'a little more orange' post hinted at a possible fresh accumulation. The company has held roughly 845,050 BTC since its last disclosed purchase in August, but any new buying could reinforce the broader institutional conviction around Bitcoin." * September 21, 2026 08:26 * September 21, 2026 08:02 * September 21, 2026 07:49 * Immediate resistance: 23,420-23,430. The index is currently close to this zone, so a decisive breakout is important for further upside. * Next resistance: 23,470, followed by 23,510. A sustained move above 23,510 would improve the short-term technical structure. * Immediate support: 23,320, followed by 23,280. Holding this zone is important to sustain the current positive bias. * Breakdown trigger: A decisive fall below 23,280 could weaken the recovery and expose 23,000 and lower levels. * Broader support: The 23,100-23,000 zone remains important from a positional perspective; derivatives data also show notable put writing around 23,000 and 23,200. * Market breadth: Advances at 33 against 17 declines indicate broad-based buying, but this needs to sustain through the session. * Trend caution: Despite today's gains, the broader structure remains under pressure after six consecutive weekly declines. Analysts are watching 23,500-23,600 as the larger overhead resistance zone. * India VIX: VIX was around 11.39, indicating relatively subdued volatility. * Futures: The September Nifty futures at around 23,385 face resistance at 23,440-23,480, with 23,335 as the immediate support based on your levels. * September 21, 2026 07:35 * September 21, 2026 07:01 * September 21, 2026 06:46 Gold prices slipped in early Asian trading on Monday as the latest tensions in the Middle East added to inflation concerns and reinforced expectations of higher interest rates. Spot gold fell 0.2% at $4,368.33 per ounce, as of 0027 GMT. US gold futures for December delivery were down 0.4% at $4,406.70. - Reuters * September 21, 2026 06:41 * September 21, 2026 06:41 * Goldiam Jewellery Limited (GJL) declared 1st interim dividend for FY 2026-27 * Dividend of ₹140/- per equity share (1400%) on face value of ₹10/- * Total dividend received by Goldiam International Ltd aggregate of ₹12.60 crores (net TDS) * Dividend received on September 18, 2026, declared on September 15, 2026 Impact: Positive (Dividend income from subsidiary strengthens cash flows) * September 21, 2026 06:40 Instl. Investors EQUITY Cash Trades PROV. - 18/09/2026 : Rs. CRS. : FIIS : BUY +599 (38,461-37,862) DIIS : BUY +1,020 (17,310-16,290) * September 21, 2026 06:40 SEPTEMBER 21 🔸Bajaj Holdings: ₹65 interim 🔸Maharashtra Scooters: ₹160 interim 🔸Dixon Tech: ₹10 🔸Kingfa Science: ₹20 🔸Monte Carlo Fashions: ₹20 🔸Vedant Fashions: ₹7.75 🔸Kajaria Ceramics / ISGEC / Maithan Alloys: ₹6 each 🔸Southern Gas: ₹60 🔸Jeena Sikho: ₹4.50 🔸CyberTech: ₹4 🔸Others: Alicon Castalloy ₹3, Chaman Lal Setia ₹3, Indo National ₹3.75, Mercury Labs ₹3.50, etc. (~50+ stocks) SEPTEMBER 22 🔸BEML: ₹12.28 🔸Ambika Cotton: ₹37 🔸GOCL Corp: ₹30 🔸National Peroxide: ₹7 🔸IRCTC: ₹0.50 🔸Jamna Auto: ₹1.50 🔸Aries Agro: ₹1.50 + ₹1 special 🔸KPI Green: ₹0.25 + ₹0.15 special 🔸Others: 3B BlackBio ₹5, Repco Home ₹3, Mallcom ₹3, etc. (~60 stocks) 🔸TAAL Tech: Stock split (₹10→₹2) SEPTEMBER 23 🔸GMDC: ₹9.50 🔸Titagarh Rail: ₹1 🔸Goodluck India: ₹3 🔸Talbros Engg: ₹3 🔸Tyche Industries: ₹3.50 🔸Others: Asahi Songwon ₹1.50, Steel Strips Wheels ₹1.50, etc. SEPTEMBER 24-25 🔸Engineers India: ₹2.50 (24th) 🔸Naturite Agro: Split ₹10→₹5 🔸Midwest Energy: Split ₹10→₹1 🔸A few small dividends (LGT Global, Sri Lotus, etc.) Total weekly dividend payout ₹609-610 per share across all. * September 21, 2026 06:39 - Blackstone Inc.'s president, Jon Gray, says India has been the source of the firm's highest private equity returns in the world after it shifted its strategy. - Gray notes that India's large, educated population is a key factor in the case for investing in the country, which is home to 1.47 billion people. - Gray acknowledges that there are still points of friction between the US and India, but says the trajectory of the relationship has consistently bent toward closer ties as India deepens its engagement with capitalism. As Jon Gray recalls it, Blackstone Inc.'s first foray into India started slowly and then ran into headwinds during the global financial crisis. "We had sort of a skeleton crew. We didn't really have a great defined strategy," Blackstone's president said. "We couldn't make the numbers work. So we did basically nothing." But that uncertain beginning spurred Blackstone to rethink what it was doing in India. "We said, 'You know what? We just need a better approach.'" Fast forward to 2026, and the picture for Blackstone and India looks much different. India has been the source of Blackstone's highest private equity returns in the world, Gray said, after the firm shifted to take majority or equal-control stakes and focus on sectors including information-technology services, commercial real estate and domestic manufacturing. Gray says there is more and better to come as the world's fastest-growing major economy continues its upward path. "It takes time to get to a stage where you can really begin to expand your growth rate," Gray said in an interview with Bloomberg Television's Wall Street Week. "And I do feel like India is getting closer and closer to that tipping point." Ranked No. 14 in the world in a 2005 World Bank report, India's gross domestic product has grown almost fivefold to $3.69 trillion and climbed into fourth place -- above Germany, the UK and France. The case for investing in India rests heavily on its large, educated population. It is home to 1.47 billion people and surpassed China as the world's most-populous country in 2023. Growth accelerated to 7.6% in fiscal 2026, the World Bank reported, cementing its status among major economies. Mohandas Pai, former chief financial officer of Infosys Ltd. -- the first Indian company listed on a US stock exchange, in 1999 -- noted that 11 million people graduate annually from college in India. That tally includes roughly 800,000 to 1 million engineers or near-engineers, with approximately 500,000 of those considered strong enough to train for the technology industry, Pai said. He sees great strategic potential in the US-India relationship, arguing that the US lacks sufficient STEM graduates to sustain its innovation economy and that India's human capital -- combined with American financial capital, markets and marketing -- could together dominate global technology competition. "We can conquer the entire world," he said. Gray acknowledged that there remain points of friction between the US and India over issues including tariffs and how the US war with Iran has driven up energy costs. "There will be bumps," he said. But, he added, the trajectory of the US-India relationship has consistently bent toward closer ties as India deepens its engagement with capitalism, something true regardless of which US political party holds power. Patience, he added, has been important for Blackstone's investment in India. "The real issue that has held India back for a long time was the infrastructure in the country. And it wasn't just the physical infrastructure. It was the legal, the capital markets infrastructure," Gray said. He credited Prime Minister Narendra Modi's administration with doing a "phenomenal job" in turning that around. "A lot of things are falling into place," Gray said. * September 21, 2026 06:39 India's IPO pipeline for 2026 remains robust at around $30 billion, with nearly 80 companies awaiting listings, and over 90% expected to come from mid- and small-cap segments, according to Jefferies' Head of Equity Capital Markets, Jibi Jacob. Speaking at the Jefferies India Forum 2026, he described the market mood as resilient and robustly optimistic, noting that while a few large "jumbo" IPOs are in the pipeline, the bulk of activity will be driven by smaller companies. Domestic liquidity from mutual funds and retail investors is absorbing both foreign selling and fresh equity supply, supporting continued primary market activity through the rest of the year. * September 21, 2026 06:38 KSB's nuclear opportunity appears execution- and qualification-constrained rather than demand-constrained, with testing infrastructure the key near-term bottleneck. KSB has a potential first-mover advantage in 700MW PHWR primary coolant pumps, supported by indigenous supply-chain and qualification experience. Competition should increase as India scales nuclear capacity, while testing capacity, localisation, vendor qualification, manufacturing scale and skilled manpower will determine execution. Nuclear could also be margin-accretive, with the expert indicating higher margins than conventional business. 1. Revenue delay is execution-led. KSB's nuclear revenue delay reflects execution, testing and qualification bottlenecks rather than weak demand. Resolution could enable relatively sharp revenue conversion. 2. Indigenous 700MW qualification is important. KSB's Haryana project required a fully indigenous supply chain for 700MW primary coolant pumps. Successful localisation strengthens its position for the broader PHWR pipeline and reduces import dependence. 3. Testing infrastructure is the key bottleneck. Primary coolant pumps require extensive testing, including a 500-hour type test. Limited test infrastructure and installation time could constrain industry-wide qualification. Subsequent pumps in an eight-pump lot can reportedly use the same casing with shorter tests 4. Competition should increase with scale-up. Kirloskar Brothers has reportedly received a development order but still needs qualification. Flowserve has historical heavy-water reactor pump experience, though recent activity has focused largely on replacement pumps. India's nuclear programme should ultimately require multiple qualified suppliers. 5. Primary pumps offer a strategic opportunity. High qualification barriers and limited suppliers could provide KSB access to a long-duration pipeline with initially limited competition. 6. LWRs offer an additional opportunity. The expert estimates a potential 100GW programme could comprise ~50-55GW PHWRs and 30-35GW LWRs, with the balance from SMRs and fast-breeder technology. KSB's Kudankulam experience, including reported involvement in Units 4-6, could support its LWR positioning. 7. Localisation strengthens KSB's LWR opportunity. KSB has LWR references from China and Europe. As India expands nuclear generation, localisation should become increasingly important, potentially benefiting KSB's existing Kudankulam credentials. 8. Opportunity extends beyond primary pumps. Boiler feed and cooling-water pumps also offer opportunities, with KSB and Kirloskar Brothers already manufacturing relevant equipment domestically. 9. Pipeline visibility is improving. Upcoming projects include 4x700MW Mahi Banswara, 2x700MW Chutka and 2x700MW Haryana 3/4. The expert expects the Mahi Banswara primary coolant pump inquiry before end-2026, though this is not a confirmed timeline. 10. Capacity and manpower may constrain growth. Manufacturing capacity, supplier ecosystems and skilled manpower could constrain execution of 100-125 new nuclear plants over two decades. Scaling qualified manufacturing capacity may therefore be as important as winning orders. 11. Nuclear could support margins. The expert indicated nuclear margins are "quite a few points higher" than conventional business, without quantifying the differential. A higher nuclear mix could therefore support both revenue growth and structural margin expansion, with eventual export potential for qualified Indian manufacturers. At the CMP, KSB is trading at CY27E P/E of 45.5x and CY28E P/E of 39.7x. * September 21, 2026 06:37 🔻ICRA 🔻Voltas 🔻Whirlpool 🔻Tata Elxsi 🔻Gillette India 🔻Maruti Suzuki 🔻Rajesh Exports 🔻KPIT Technologies 🔻Bayer Cropscience 🔻Reliance Industries 🔻Syngene International 🔻Aditya Birla Lifestyle Brands 🔻Go Digital General Insurance 🔻Happiest Minds Technologies * September 21, 2026 06:37 Lenskart Solutions holder Platinum Jasmine A 2018 Trust offers up to about 30m shares at 682.45 rupees/share via Morgan Stanley to trade on Sept. 21, according to terms seen by Bloomberg. *Price represents 3.5% discount to last close *1.74b shares outstanding (862.9m-share float) as of Aug. 12 *Shares have climbed 12.5% in the past month *50-DMA 608.95 rupees - Bloomberg * September 21, 2026 06:36 * September 21, 2026 06:35 * September 21, 2026 06:32 * September 21, 2026 06:32 * September 21, 2026 06:32 * September 21, 2026 06:31 * September 21, 2026 06:30 Published on September 21, 2026
Original Source: @businessline
