Thursday, 24 September 2026

US and Iran explore a phased deal to reopen the Strait of Hormuz and end the blockade

• Iran offered to reopen the Strait of Hormuz within 7 days if the US lifts its blockade and waives sanctions
• Reports describe discussions on a phased arrangement, but the proposal’s conditions differ
• A reopening could ease crude-supply risks for Indian Oil, BPCL and HPCL

PB Fintech plunges as proposed IRDAI curbs rattle insurance distributors

• PB Fintech fell 36% in one day, wiping out ₹31,426 crore in market value
• Reports put the two-session decline at 38% to nearly 39%; mutual funds lost nearly ₹11,000 crore
• IRDAI proposed tighter curbs on insurance commissions and insurers’ management expenses
• Proposed commission limits threaten Policybazaar’s insurance distribution economics and PB Fintech shareholders

PB Fintech flags revenue risks from IRDAI proposal after shares plunge

• PB Fintech shares plunged 36% after IRDAI proposed changes to insurance distribution economics
• The stock lost about 40% in two sessions, while analysts flagged possible further downside
• The proposal threatens Policybazaar’s insurance-distribution revenue and weighs on PB Fintech shares

Adani Group plans over ₹1 lakh crore investment in West Bengal by 2035

• Planned investment exceeds ₹1 lakh crore by 2035
• A Kolkata healthcare project is planned at ₹4,000 crore
• Planned projects may create opportunities for Adani’s ports, power and infrastructure businesses

Amazon plans $3 billion investment in India quick commerce by 2030

• Amazon plans to invest $3 billion in quick commerce by 2030
• Amazon currently has a 6.2% market share, Mint reported
• More competition in quick commerce could pressure Eternal’s Blinkit and Swiggy’s growth and margins

JSW seeks Volkswagen coverage for $1.4 billion India tax liability in proposed deal

• JSW seeks a majority stake in closely held Skoda Auto Volkswagen India
• The potential tax liability is $1.4 billion, tied to alleged misclassification of imported vehicle assembly kits
• The alleged misclassification covers imports between 2012 and 2024
• A deal hurdle could affect JSW’s automotive plans; JSW Group’s listed companies have indirect exposure

Ola Electric shares fall 9% ahead of board meeting on proposed fundraise

• The fall snapped a four-session rally that lifted shares 17%
• The board is set to consider a rights issue on September 28
• A rights issue could dilute shareholders; Ola Electric investors face funding and execution uncertainty

Orient Cables opens its ₹552 crore IPO; issue closes September 29

• The IPO comprises a fresh issue worth ₹320 crore and an offer for sale
• The company raised ₹165.6 crore from 14 anchor investors
• Bidding opened September 25, 2026, and closes September 29, 2026
• The offer gives Indian investors exposure to a cable maker targeting growth from digital infrastructure

SEBI widens FPI access to non-agricultural commodity derivatives

• FPIs can participate in non-agricultural commodity derivatives
• Access includes non-agricultural index derivatives, whether cash-settled or non-cash-settled
• Wider participation may lift activity at commodity exchanges, including MCX

US 30-year Treasury yield reaches its highest level since 2004 amid bond selloff

• Reports put the 30-year Treasury yield between 5.44% and 5.5%, a high since 2004
• The US 10-year yield climbed to 5.20%
• Higher US yields can pressure Indian bond yields and valuations, affecting banks and rate-sensitive stocks

NSE shares jump over 5%, making it India’s 10th most-valued firm

• NSE shares rose 5.21% to ₹1,878 after opening at ₹1,800
• NSE ranked tenth among India’s most-valued firms, with market capitalisation at ₹4.5 lakh crore
• BSE’s market valuation stood at ₹1,31,946.42 crore
• NSE’s valuation milestone may lift sentiment toward Indian exchange stocks, including BSE

SEBI clears PMS, settlement and FPI access reforms

• SEBI approved a new **PMS route for mutual fund investments**
• Reforms include easier settlement norms and wider FPI access to commodity derivatives
• Easier market access and settlement rules affect Indian asset managers, brokers and commodity exchanges

IRDAI commission caps may cut insurance income at banks and NBFCs

• Proposed commission caps and bundling restrictions could pressure lender earnings
• L&T Finance is seen as the most exposed among NBFCs
• Lower insurance distribution fees could weigh on banks, NBFCs and especially L&T Finance earnings

India plans to continue diesel exports as US weighs a 90-day ban

• Oil Minister Hardeep Puri reaffirmed India's commitment to diesel exports
• The US is weighing a 90-day diesel export ban as Russia supply falters
• Diesel exporters and refiners including Reliance Industries and Indian Oil face shifting export-market conditions

PhonePe plans 20,000 hires and 50 lakh payment devices in a year

• PhonePe plans to hire more than 20,000 sales personnel
• It plans to deploy 50 lakh payment devices, targeting rural India
• Expansion intensifies competition in payments, with implications for Indian fintech and banking players

Maruti Suzuki commissions 300 kW green hydrogen pilot plant at Manesar

• The 300 kW pilot plant will use surplus solar power to produce hydrogen for manufacturing
• Maruti targets cutting manufacturing carbon emissions from 615,000 tonnes to 266,000 tonnes by FY31
• Cleaner manufacturing may support Maruti Suzuki’s emissions goals and strengthen its positioning with Indian auto investors

Morgan Stanley’s accidental email exposes more than 100 potential Asia deals

• An accidental email sent clients an internal list of more than 100 potential investment-banking deals across Asia
• SEBI is assessing the incident

Nykaa and L’Oréal’s BOLD to invest jointly in Indian beauty brands

• Nykaa and L’Oréal’s venture fund BOLD will jointly invest in Indian beauty and personal-care brands
• The partnership may support Nykaa’s beauty ecosystem and emerging-brand pipeline

Coal expected to provide half of India’s power through 2035-36

• Coal is expected to generate **half of India’s electricity** by 2035-36 as power demand rises
• The Ministry of Power cited energy security as a reason for coal’s continued role
• Continued coal reliance supports demand outlook for Coal India and thermal-power companies

PB Fintech Leads Slump in India Insurance Stocks on Fee Cap Plan

Moneyview IPO draws 1.44 times subscription on Day 1; Day 2 demand reaches 6 times

• The ₹1,092 crore IPO was subscribed 1.44 times at the end of Day 1
• Moneycontrol reported subscription reached 6 times on Day 2
• The listing will test investor appetite for fintech offerings; no listed Indian company is directly exposed

Rupee weakens to around 95.96–95.99 per dollar as crude rises

• The rupee fell 23 paise to 95.96 against the dollar, while another report said it dropped 26 paise to 95.99
• A separate report said the rupee opened 6 paise higher at 95.90 as oil cooled overnight
• A weaker rupee and higher crude pressure import costs for Indian oil companies and raise inflation risks

NSE shares debut at ₹1,800 and rise 3.36% to ₹1,845

• NSE shares opened at ₹1,800 and rose 3.36% to ₹1,845
• The ₹22,569 crore IPO was subscribed nearly six times
• The listing gives investors direct exposure to NSE and a fresh benchmark for exchange valuations

Google plans an in-orbit test of AI chips under Project Suncatcher

• Project Suncatcher will test AI chips in orbit
• Google is exploring solar-powered satellite clusters for scalable machine-learning infrastructure

Oracle invokes force majeure over power delays at New Mexico data-centre project

• Oracle shares fell 5% in one report and 3% in another
• The project faces power delays, local resistance and the removal of a development partner
• Oracle may delay payment if the data centre is not operational in 2028

FSSAI proposes restricting the paneer label to non-analogue dairy products

• Draft amendments would restrict the manufacture and sale of analogue products as paneer
• Licensed analogue-dairy products would have to stop using “paneer” in product names and labels
• Dairy producers and food companies may need to change product labelling if the proposal takes effect

Inox Green and Wheels India QIPs draw investor attention

• Inox Green aims to raise ₹300 crore through a QIP
• Inox Green set its QIP floor price at ₹174.36 a share
• QIP dilution and fundraising terms matter to Inox Green and Wheels India shareholders

Hero Motors hits 20% upper circuit after ₹281 crore block deal

• 2.4 crore shares, or around 5.3% of equity, changed hands in the block deal
• Shares rose from the ₹84 IPO price to ₹141.85 on September 25
• Post-listing momentum and block-deal activity put Hero Motors shareholders in focus

Runwal Enterprises raises ₹149 crore from anchors ahead of ₹499.83-crore IPO

• Anchor investors subscribed for ₹149 crore ahead of the offer
• The IPO aims to raise about ₹500 crore, primarily for debt repayment; subscription stood at 42%
• Debt repayment may improve the balance sheet; IPO investors face exposure to Indian real estate

Snapdeal parent AceVector raises ₹189 crore from anchors ahead of ₹420-crore IPO

• AceVector raised ₹189 crore from anchor investors before its IPO opened
• At the upper price band, it aims to raise ₹420 crore and reach a ₹1,741 crore post-issue valuation
• IPO proceeds and valuation matter to investors assessing Indian internet and e-commerce businesses

Pine Labs and Google Cloud partner on agentic commerce in India

Goyal says India-US trade deal is done, but execution awaits competitiveness

• Piyush Goyal said the India-US bilateral trade agreement is on the verge of completion
• Goyal said execution awaits competitive advantage; trade talks also cover the EU, Canada and others
• A completed pact could affect exporters across Indian manufacturing, textiles and technology services

India’s consumer durables market could reach ₹3.25 lakh crore by 2030

• The market is projected to reach ₹3-3.25 lakh crore by 2030
• 8-10% annual growth could add ₹40,000-50,000 crore in domestic value
• Growth and localisation prospects support Indian appliance makers and consumer-durables manufacturers

Reliance Industries eyes ₹10,000 crore 10-year bond sale at 7.90%

• Reliance plans to raise ₹10,000 crore through 10-year notes
• The notes are expected to carry an annual coupon of 7.90%
• The borrowing adds to Reliance Industries’ financing needs; bond supply may also interest Indian debt investors

Dr Lal PathLabs to buy 70% of SN Genelab; reports differ on deal value

• Dr Lal PathLabs will acquire a **70% stake** in SN Genelab
• Reports put the deal value at **₹168 crore** and ₹200 crore
• The genomics expansion matters for Dr Lal PathLabs’ diagnostics business and shareholders

Elevate Campuses IPO is fully subscribed on final bidding day

• The IPO is a **₹2,100-crore fresh issue**
• Day-two subscription reports differ: **20%** overall versus 23%; the issue was fully subscribed on the final day
• The listing offers investors exposure to India’s student-housing market

PB Fintech shares plunge as IRDAI draft threatens a key customer-acquisition channel

• PB Fintech shares fell 34%; another report put the crash at 36%
• IRDAI’s draft bars collecting contact details to generate quotes, a key acquisition funnel
• The proposed rule threatens customer acquisition for PB Fintech’s insurance business, weighing on PB Fintech shares

Insurance stocks fall as much as 34% after IRDAI distribution proposals

• PB Fintech and Turtlemint shares fell up to 34% after IRDAI's consultation paper
• HSBC said proposed expense limits are stringent and could affect insurers, brokers and lenders
• Proposed caps threaten distribution economics for PB Fintech, insurers, brokers and lenders

Saudi Arabia sells nearly 100 million barrels of crude to Asian buyers

• Saudi Arabia sold nearly 100 million barrels of crude to Asian buyers
• Indian refiners were among the buyers, alongside Chinese refiners
• Easing crude supply may support Indian refiners, while lower oil prices can weigh on upstream producers

Jio-BP and Nayara cap diesel sales at select pumps as crude prices surge

• Crude crossed $117/barrel, while OMC margins were squeezed by ₹9/litre
• Jio-BP and Nayara capped diesel sales at select outlets; private pumps limited customers to 50 litres
• Squeezed fuel margins weigh on IOC and BPCL, while diesel limits affect fuel retailers

PB Fintech plunges 28% to 35%, erasing ₹30,000 crore in market value

• PB Fintech shares fell 28% to 35% on September 24, depending on the report
• The fall erased ₹30,000 crore in market capitalisation
• Put-option demand surged as traders profited from the plunge
• Sharp volatility directly hits PB Fintech shareholders and raises risk for fintech investors

Reports list Indian gold and silver retail rates for September 24 and 25

• One report says gold prices fell across metro cities on September 24
• Other reports list gold and silver retail rates for September 25
• Gold-price moves affect jewellery retailers such as Titan, though reports give no rate figures

India eases foreign investor access to commodity derivatives, widens scope of portfolio managers

GST Council to review proposed levy on UPI merchant fees above ₹2,000

• The GST Council is scheduled to meet on October 7 to discuss the levy
• The proposal covers UPI merchant fees above ₹2,000; the government has proposed a 0.4% merchant discount rate
• A levy on UPI fees could affect payment providers and merchants, including Indian fintech companies

UAE and Saudi Arabia show interest in investing in India’s refining sector

• India aims to raise refining capacity to **6.2-6.4 million barrels per day** from about 5.4 million
• UAE and Saudi Arabia are keen to invest in the sector, the minister said
• Potential investment could benefit Indian refiners as the country plans to expand capacity

Balrampur Chini gets ₹75 crore grant for 100-tonne biopolymer R&D facility

• The government approved ₹75 crore in grant assistance
• The 100-tonne-per-annum facility will cost ₹110 crore
• The grant supports Balrampur Chini’s biopolymer project, a potential growth avenue for its shareholders

Analysts see up to 51% upside for Vishal Mega Mart after investor day

• Jefferies and Morgan Stanley see up to 51% upside
• Analysts cited sales growth and management continuity as positives
• Bullish views may support Vishal Mega Mart shares as investors assess its store-expansion growth prospects

Kalpataru Projects wins ₹2,025 crore orders; FY27 inflow reaches ₹13,219 crore

• New orders span transmission and distribution, buildings and factories, and oil and gas
• FY27 order intake reached ₹13,219 crore; the company is L1 bidder on projects worth ₹12,000 crore
• The order wins strengthen revenue visibility for Kalpataru Projects and its infrastructure suppliers

Accel and 360 ONE sell 4.07% BlueStone stake for ₹513 crore

• The investors sold 61.98 lakh shares, representing a 4.07% stake
• The block deals were worth ₹513 crore
• Domestic and overseas institutional investors bought the shares
• The stake sale adds supply for BlueStone shares, while institutional buyers took the same number of shares

Nifty plunges 1.6% to five-month low; Sensex ends 1,248 points lower

Rupee hits one-week low as oil rally fuels global rate-hike concerns

• The rupee fell to a one-week low of 95.95 per dollar
• State-run bank dollar sales, likely for the RBI, limited losses
• A weaker rupee and higher oil costs pressure Indian importers, airlines and oil marketing companies

India’s FTAs aim to improve tariff predictability and attract supply-chain investment

• Recent FTAs are designed to provide tariff stability and predictability for long-term investors
• Agreements aim to make export supply chains more predictable, cut trade costs and widen market access
• More predictable trade terms may benefit Indian exporters and manufacturers planning global supply chains

Banks urge customers to finish transactions before UFBU strike from September 28

• UFBU has announced a three-day strike beginning September 28
• The union says it represents 90% of the banking workforce
• A strike may disrupt services at SBI and other public-sector and older private banks

Motilal Oswal receives SEBI approval to launch custody services

• The group can offer securities safekeeping, trade settlement and corporate-action processing
• Its wholly owned subsidiary MOCSPL received approval; operations are expected to start in Q4
• Custody services expand Motilal Oswal Financial Services’ institutional business opportunities

SEBI extends bullion vaulting rules to gold and silver ETFs and derivatives

• The framework now covers bullion underlying specified ETFs and derivatives
• SEBI raised the net-worth requirement for vault managers

iPhone 17 Pro at ₹56,990: How to get the phone at this effective price

Draft National Electricity Policy 2026 sent to Cabinet for consultation

• The draft policy has been submitted for Cabinet consultation
• The policy aims to enhance power supply
• The policy could shape investment conditions for Indian power generators and transmission companies

Proposed IRDAI distribution reforms could reshape insurance business models

Polymarket sues New York as the state pursues gambling-law action

• New York alleges Polymarket violated state gambling laws and seeks to block unlicensed operations
• Polymarket sued New York Attorney General Letitia James and other state officials to block regulation

Indian tech funding rises 7% to $10.3 billion in 9M 2026

• India's tech sector raised $10.3 billion in equity funding in the first nine months of 2026
• Funding was up 7% year on year despite fewer deals