Friday, 25 September 2026

Welspun Corp’s US subsidiary wins ₹4,000 crore pipe order, lifting order book to $4.7 billion

• US subsidiary secured an HFIW pipe order worth about $412.5 million, or ₹4,000 crore
• Global order book rose to a record $4.7 billion
• Welspun shares gained over 5% and hit a 52-week high of ₹2,837.50
• The record order supports revenue visibility for Welspun Corp and its steel-pipe business

JSW One Platforms files draft papers for ₹3,054 crore IPO

• Proposed IPO includes a fresh issue of up to ₹1,300 crore and an offer for sale of ₹1,754.01 crore
• JSW One is a technology-enabled B2B platform serving manufacturing and construction sectors
• The listing adds a potential investment option; JSW Group companies may draw attention, but no listed parent exposure is specified

Tata Motors PV weighs gradual price hikes as commodity costs threaten margins

• The company is still absorbing a significant residual part of rising commodity costs
• Commodity costs could have another 3% impact on revenue
• Tata Motors PV is accelerating cost-reduction efforts
• Further hikes may support margins, but affordability and demand matter for Tata Motors PV

Suzuki targets 4 million-unit India capacity by FY30, halves development time

• India vehicle capacity target is 4 million a year by FY30
• Suzuki aims to cut new-vehicle development time by half by 2030
• Manufacturing efficiency is targeted to improve 30%
• Maruti Suzuki’s production scale-up could support higher volumes and exports, while faster development may aid model launches

Centre plans ₹7.86 lakh crore H2FY27 borrowing; full-year target cut

• H2FY27 borrowing will total ₹7.86 lakh crore, including ₹15,000 crore in green bonds
• FY27 borrowing through dated securities is ₹15,99,506 crore, below the ₹17,20,000 crore Budget estimate
• Lower-than-budget borrowing may ease bond-supply pressure, supporting banks and rate-sensitive stocks

Coal India subsidiary SECL prepares for an $800 million IPO

• South Eastern Coalfields is reported to be planning an $800 million IPO
• Offering size and timing could change as discussions continue
• An SECL listing could unlock value for Coal India shareholders

KKR-backed PMI Electro Mobility confidentially files for IPO

• The electric commercial vehicle maker operates 3,300 e-buses across 34 Indian cities

NSE chairman urges India to reconsider allowing exchanges to self-list

• India currently bars exchanges from listing on their own platforms over conflict-of-interest concerns
• NSE accounts for about 93% of cash-market trading and nearly 75% of options

Zee seeks contempt proceedings against JioStar over alleged music-rights violations

• Zee alleges JioStar continued using music after a Delhi High Court injunction
• Zee cited six instances of alleged continued content use
• The copyright dispute exposes Zee and JioStar parent Reliance Industries to legal and content-rights uncertainty

India considers requiring power plants to blend up to 5% imported coal

• Officials are discussing mandatory blending of up to 5% imported coal with domestic coal
• The proposal aims to ease a supply crunch that has pushed spot power prices higher
• Imported coal costs may pressure thermal generators and raise fuel-cost exposure across the power sector

India records FY26 high of $94.53 billion in FDI; cumulative inflows hit $843 billion

• FDI reached a record $94.53 billion in FY 2025-26
• Cumulative FDI inflows from FY15 to FY26 totalled $843 billion
• Record inflows signal investment momentum for Indian manufacturing and could support growth and employment

ESDS hits 5% lower circuit as Q1 profit falls 57% sequentially

• Q1 FY27 net profit fell 57% sequentially to ₹29.3 crore; revenue declined 20%
• Shares hit the 5% lower circuit at ₹1,758, but remained up 310% from IPO price
• Sharp earnings weakness raises risk for ESDS investors after a steep post-listing rally

Government evaluates revised bids for 60.72% stake in IDBI Bank

• Revised bids are from Fairfax Financial Holdings and Emirates NBD
• The proposed sale covers a 60.72% stake in IDBI Bank
• The sale process is a key catalyst for IDBI Bank shareholders and prospective bidders

India’s forex reserves fall $14.88 billion to $765.90 billion

• Reserves fell $14.881 billion to $765.901 billion in the week ended September 18
• Foreign currency assets drove the decline; higher gold reserves partly offset it
• Reserve drawdown can pressure the rupee; banks and import-dependent Indian companies are exposed to currency moves

Akasa Air in talks to order more than 200 Boeing 737 MAX jets

• Akasa currently operates 43 Boeing 737 MAX jets and has 226 more on order
• A decision on the proposed order is expected early next year
• A larger rival fleet could intensify competition for IndiGo in India’s airline market

German Green Steel IPO opens; grey-market premium signals potential listing gains

• The ₹303.90 crore IPO is open for subscription from September 25 to 29
• Grey-market premium of Rs 31 implies a 22.30% estimated listing gain
• Steel-sector investors face an IPO with analysts advising caution despite attractive valuations

Vodafone Idea offers free international roaming on select plans for up to three trips

• The benefit covers 170+ countries on select plans
• Eligible customers can use free roaming for up to three trips a year
• The offer targets subscriber growth for Vodafone Idea as it pursues fundraising

Nifty logs a seventh straight weekly loss as crude and global yields weigh

• Nifty closed at 23,140.50, up 0.34% on the day
• Reports describe the weekly fall as the biggest in six years and, separately, in 10 weeks
• Crude and rising US yields pressure Indian equities, especially oil-sensitive sectors and FII-heavy stocks

Supreme Court allows independent forensic audit of Fortis transactions in Daiichi dispute

• The Supreme Court declined to interfere with Delhi High Court orders allowing the audit
• The dispute is linked to a ₹3,500 crore arbitral award in Daiichi Sankyo’s favour
• Audit scrutiny may affect Fortis Healthcare investors and the company’s governance outlook

Vascon Engineers wins ₹660 crore Qualcomm office project in Bengaluru

• The office facility order from Qualcomm India is worth ₹660 crore; some reports cite ₹661 crore
• The work is due for completion within 30 months of site handover
• The order boosts visibility for Vascon Engineers’ construction revenue

Government disburses ₹36,754 crore under PLI schemes through June 30

• Cumulative PLI incentives disbursed reached ₹36,754 crore
• The schemes generated over 14.57 lakh direct and indirect jobs
• PLI-linked manufacturing companies benefit from incentives supporting domestic production and employment

Prestige Estates withdraws ₹2,700 crore IPO plan for its hospitality business

• Prestige Estates withdrew the hotel business IPO plan amid uncertain market conditions
• The proposed IPO was aimed at raising ₹2,700 crore
• The withdrawal removes a planned funding route for Prestige Estates’ hospitality business

Airbus coating issue affects around a dozen IndiGo A321neo aircraft

• A surface-protection deviation was found on A321neo fuselage stringers; around a dozen IndiGo aircraft are affected
• Airbus says the issue is contained, a remedy is available and newly coated stringers meet requirements
• Any maintenance disruption could affect IndiGo’s aircraft availability and operating costs

Tata Motors launches Aeris compact sedan in India at ₹5.29 lakh

• Bookings are open; the petrol variant starts at ₹5.29 lakh
• The compact sedan is aimed at private buyers and replaces the Tigor
• The launch adds a new entry-level model for Tata Motors PV in India’s passenger-car market

Sensex gains 315 points as Nifty closes above 23,100

• Sensex rose 315 points; Nifty finished above 23,100
• Auto and consumer-durables shares gained nearly 1%
• Axis Bank rose 3% and Asian Paints gained 2%
• Lower crude and value buying supported sentiment; banks, autos and consumer-facing stocks led gains

Embassy Office Parks REIT raises ₹1,000 crore through NCDs to refinance debt

• The REIT raised ₹1,000 crore through floating-rate non-convertible debentures
• A scheduled commercial bank provided the first financing to an Indian REIT at trust level
• The refinancing adds a debt-market funding option for Embassy REIT and its unitholders

Microsoft revamps Copilot with code generation and agentic AI tools

• Users can edit Word or Excel documents within the Copilot app or a browser tab
• Microsoft’s AI push raises competitive pressure for Indian IT services and software firms

Prestige launches Bengaluru housing project; two developments expected to generate ₹2,850 crore

• Prestige Parklane spans 11.91 acres in Devanahalli and will comprise 1,788 homes
• The company expects ₹2,850 crore revenue from two Bengaluru housing projects
• The launches support Prestige Estates’ Bengaluru sales pipeline and near-term residential project revenue

Nomura initiates Meesho at Reduce, sees 28% downside to ₹167

• Nomura set a ₹167 target, implying 28% downside; shares fell as much as 5% to ₹221
• Nomura said Meesho trades at a premium to Eternal and Swiggy despite their higher NMV growth
• A valuation warning pressures Meesho, while Eternal and Swiggy are cited as comparative peers

India reserves third-party rights in Russia-EU WTO dispute over CBAM

• The WTO dispute was filed by Russia against the European Union over its Carbon Border Adjustment Mechanism
• India raised MSME concerns about the mechanism with the EU, at the WTO and bilaterally
• CBAM may affect Indian exporters, particularly MSMEs selling goods into the European Union

Sitharaman says UPI MDR above ₹2,000 will not be passed to customers

• MDR on specified UPI transactions above ₹2,000 will be borne within the payments ecosystem
• Sitharaman said the charge is not a government tax
• Payments firms and merchants may absorb the charge; consumers are not expected to pay extra

CEA flags US ties, energy prices and lack of AI presence as near-term headwinds

• CEA V Anantha Nageswaran cited unsettled US relations, energy prices and the absence of a significant AI play
• The concerns were described as near-term headwinds for India’s economy
• Energy costs and US trade ties affect Indian exporters, while limited AI exposure could weigh on technology-sector prospects

Actis combines 11 Indian road assets in a $1 billion trust

• The trust consolidates 11 road assets worth around ₹10,000 crore
• Actis raised ₹1,180 crore from investors
• The trust adds an infrastructure investment vehicle; Indian road developers and asset owners are exposed

Anthropic signs seven-year cloud deal with Akamai worth $11.6 billion

• The deal could expand by another $9 billion, taking the potential total to about $20 billion
• Akamai will provide cloud services and CPUs; it granted Anthropic a warrant for up to 5% stake
• Akamai shares jumped 15% in one report

NCLT approves Dabur’s merger with Sesa Care

• Dabur acquired a majority stake in Sesa Care in October 2024
• The merger takes effect after statutory filings and other scheme conditions are completed
• Dabur gains a broader hair-care portfolio, with potential growth implications for Dabur India investors

Signatureglobal plans 194-acre Gurugram project with ₹5,500-6,000 crore GDV

• The project spans **194 acres** in Gurugram
• Estimated gross development value is **₹5,500-6,000 crore**, with 6.77 million sq ft of developable potential
• The project expands Signatureglobal’s pipeline, making execution and sales important for its shareholders

Oil prices ease as traders weigh Iran truce hopes against attacks on energy facilities

• Brent fell 0.82% to $105.73 a barrel
• WTI fell 1.65% to $93.05 a barrel
• Lower crude eases input costs for Indian oil marketers, while upstream producers face weaker realisations

PC Jeweller clears dues to all 14 consortium banks and becomes debt-free

• The company cleared approximately ₹3,000 crore of debt
• The repayment discharged all outstanding debt to the 14 consortium banks
• Debt clearance strengthens PC Jeweller’s balance sheet and reduces financial risk for shareholders

India's FDI inflows rise 6% to $19.81 billion in April-June

• FDI inflows reached $19.81 billion, up from $18.62 billion a year earlier
• The US was among the leading sources, but its inflows fell 76%
• Higher FDI supports investment sentiment and forex supply, though the sharp US decline is a counterpoint

RBI says resilient domestic economy cushions India against rising global risks

• The RBI cited record forex reserves and a five-year high in net FDI
• Rising oil prices and geopolitical tensions remain risks
• Higher oil prices could pressure Indian refiners, fuel-sensitive sectors and the rupee

Dinesh Pant and Girija Subramanian appointed as IRDAI members

• LIC managing director Dinesh Pant stepped down after the government approved his voluntary retirement
• Girija Subramanian, former New India Assurance chief, was also appointed
• The appointments matter to LIC and New India Assurance as IRDAI oversees India’s insurance sector

India and EDF discuss EPR reactor deployment and pumped hydro projects

• Talks covered deployment of French EPR nuclear reactors and pumped hydro projects
• EDF discussed building a local nuclear supply chain as India advances sector regulations
• Potential nuclear and pumped-storage projects could create opportunities for Indian power and engineering companies

Adani group entities swap ₹2,498 crore of Adani Enterprises shares

• Promoter entities exchanged 86 lakh Adani Enterprises shares in block deals worth ₹2,498 crore
• Adani Enterprises shares gained, Business Today reported
• The promoter share transfer and reported stock gain put Adani Enterprises investors in focus

IRDAI proposal risks 12% earnings hit at PB Fintech; Jefferies cuts target 25%

• Jefferies warns proposed IRDAI changes could cut earnings by 12%
• Jefferies cut its target price by 25% but sees 28% upside
• Proposed distribution rules put PB Fintech’s insurance-broking earnings at risk

Government approves LIC managing director Dinesh Pant’s voluntary retirement

• Dinesh Pant’s retirement took effect on September 24, 2026
• Pant had been appointed IRDAI Whole-time Member (Actuary) in June 2026
• Leadership change bears watching for LIC, India’s largest listed life insurer

Mumbai prime home prices rise 6.2% in Q2, ranking eighth globally

• Mumbai prime residential prices rose 6.2% year-on-year in Q2 2026
• Bengaluru and New Delhi also featured among the top 20 markets
• Rising prime-home prices provide a demand signal for Indian real-estate developers

India unlikely to make major changes to foreign-investor dispute resolution

• India is unlikely to make major changes to its bilateral investment treaty dispute-resolution framework
• Foreign companies say dispute resolution is time-consuming and difficult
• A slow dispute process may weigh on foreign investment appetite across Indian sectors

Bitget reports a $350–352 million hack and pauses withdrawals

• Bitget said $352 million was affected; other reports put the amount at $350 million
• The exchange paused withdrawals; Bitget said user funds are safe

Trump raises yen weakness with Japan’s Takaichi as currency nears 160 per dollar

• Trump raised concerns about the yen’s weakness with Japanese Prime Minister Sanae Takaichi
• The yen is nearing 160 per dollar; Japan’s finance minister signalled possible currency intervention

Officer’s Choice founders consider stake sale to Allied Blenders & Distillers

• The Chhabria family is working with an adviser
• Options include selling a stake to a strategic buyer
• A potential transaction could affect Allied Blenders and Distillers’ ownership and growth plans

Replacing 1 million bpd of Russian oil could cost India up to $3.7 billion annually

• Replacing 1 million bpd of Russian oil could add up to $3.7 billion to India’s annual bill
• Indian refiners face higher crude costs and tighter supply as they seek alternatives
• Higher crude costs could pressure OMC margins and raise fuel bills for Indian consumers

Indian 10-year bond yield hits a four-month high ahead of ₹34,000 crore auction

• The benchmark 10-year yield surged to a four-month peak
• The government is set to sell ₹34,000 crore of the 10-year note
• Rising yields can pressure bank bond portfolios and valuations of rate-sensitive Indian stocks

Centre cuts FY27 gross borrowing estimate to ₹15.99 lakh crore; H2 bond sales set at ₹7.86 trillion

• FY27 gross market borrowing cut to ₹15.99 lakh crore from ₹17.2 lakh crore budgeted
• H2 bond sales planned at ₹7.86 trillion
• Lower bond supply may ease yields, supporting banks and other holders of government securities

Analysts cut PB Fintech price targets amid insurance distribution concerns

• HSBC and Motilal Oswal cut price targets by nearly 50%
• Shares fell below their listing price
• HSBC said proposed insurance distribution reforms, including commission caps, could materially impact PB Fintech
• Commission-cap risks weigh on PB Fintech and the insurance-distribution sector

Rupee strengthens against dollar; reports cite different gains and closing levels

• Two reports put the rupee up 14 paise at 95.85 in early trade
• Moneycontrol reported a 19-paise rise to 95.80 at the close
• Rupee gains may ease import costs for oil marketing companies and other importers

India and Australia pursue CECA and investment treaty talks, including critical minerals

• India and Australia are negotiating a comprehensive economic cooperation agreement and bilateral investment treaty
• Critical minerals, investment, education and talent are among the areas of focus
• Critical-mineral cooperation may create opportunities for Indian mining and manufacturing companies

India’s forex reserves post sharpest weekly fall in two years

PB Fintech and Turtlemint shares extend losses as outlook worsens

Indian state companies seek 2.75 million tonnes of US LPG for 2027

• State-owned companies plan to import 2.75 million metric tons of LPG
• They are seeking US supplies through a term tender for 2027
• US LPG sourcing could affect fuel costs for Indian oil marketing companies and consumers

RBI likely intervenes to support rupee as it trades near 95.88 per dollar

• Rupee rose to 95.88 per dollar, paring its decline from 95.97 in early deals
• Traders said the RBI was likely to step in before market open to support the rupee