FOMO TO FMA - India Inc Brings the Deals, GDP Brings the Confidence - but FIIs Keep Dalal Street on Guard

Global Market Futures & Asian Markets (As of 07:40 AM IST)

US Market Futures

• Nasdaq: -0.09%

• Dow Jones: +0.08%

• S&P 500: +0.04%

European Futures

• FTSE 100: -0.36%

• CAC 40: -0.09%

• DAX: -0.24%

Asian Markets (Live)

• NIKKEI 225: -0.29%

• KOSPI: -0.35%

• Shanghai (SSEC): -0.07%

• Hang Seng: -1.31%

• TAIEX: +1.27%

• Straits Times Index: -0.40%

• ASX 200: -0.28%

• Gift Nifty: 24,171.50 (-0.22%)

Commodity Market Updates (Live)

International commodity markets traded mostly higher, led by a surge in energy prices:

• Brent Crude: $90.96 / barrel (+2.93%)

• WTI Crude: $86.42 / barrel (+0.77%)

• Gold Futures: $4,494.74 (+0.30%)

• Spot Gold: $4,446.02 (-0.07%)

• Silver: $67.398 (+0.61%)

• Copper: $6.7238 (+0.52%)

• Natural Gas: $2.925 (-0.17%)

Institutional Cash Market Activity (August 31, 2026)

• FIIs / FPIs: Net Sell of ₹7,985.88 crores

• DIIs: Net Buy of ₹4,588.88 crores

Key Corporate Updates

Positive Developments

• NLC India: Subsidiary incorporated NIRL OREDA Renewables (JV with OREDA); received LOI from Telangana government for a composite licence.

• Integra Switchgear: Approved acquisition of a stake in Magnatech via share swap (1 Integra share for every 12 Magnatech shares) for a total consideration of ₹299 billion.

• ONGC: Plans ₹1 trillion deepwater exploration investment over 5 years; targets crude production of 18.87 MT (FY27) and 20.34 MT (FY29); plans Dubai/Singapore trading unit in FY27.

• ITC: ITC Infotech India to acquire 22.106% stake in Happiest Minds Technologies for ~₹13.30 billion, followed by amalgamation (25 ITC Infotech shares for every 81 Happiest Minds shares).

• SJVN: Completed 72-hour trial run of 660 MW Unit-2 at Buxar Thermal Power Project.

• Glance Finance: SEBI approved registration of Artha Trust II as a Category II AIF.

• Nitin Fire Protection: Secured purchase order for fire-protection work at a hyperscale data centre.

• Chandni Machines: Started implementation of an aluminium-ingot manufacturing project at Kuvada GIDC.

• PVR INOX: Approved buyback of up to 2.1M shares at ₹1,450/share (aggregating up to ₹3 billion); promoters intend to participate.

• ME-Hai Technology: Incorporated a joint venture with Manjeera Engineering.

• Midwest: Accepted LOI for working quarry leases in Andhra Pradesh.

• Cantabil Retail India: Opened 7 new showrooms/shops during August.

• NCC: Secured 3 orders in August with a combined value of ₹4.3 billion.

• Brigade Enterprises: Entered Coimbatore residential market with a project carrying an estimated GDV of ~₹6 billion.

• Airbus–Mahindra Aerostructures: Airbus awarded Mahindra Aerostructures a contract to manufacture A320 fuselage skins.

• Tribhovandas Bhimji Zaveri: GRT Jewellers to acquire 74.12% stake (49.5M shares) at ≤₹209/share (up to ₹10.34 billion), triggering an open offer.

• Time Technoplast: Secured order worth ₹875.3 million.

• E2E Networks: Signed binding term sheet with a sovereign AI company for NVIDIA Blackwell cloud GPUs (~₹10 billion contract value).

• Sadhav Shipping: Entered charter-party agreement with Lamprell Energy for vessel Adwita.

• Hi-Green Carbon: Subsidiary setting up a 60-tonne-per-day sodium silicate plant in Madhya Pradesh.

• Indo Tech Transformers: Received LOA for order worth ₹540 million.

• Shanti Gold International: Approved ₹38.8 million investment in Lalithaa Jewellery Mart shares.

• Cipla: Signed exclusive licensing agreement with SBP Group for HER2 bispecific antibody-drug conjugate TOB2102 across India, South Africa, and 5 other markets.

• Raaj Medisafe India: Secured order valued at ₹170.2 million.

• Leap India (Q1 YoY): Revenue from operations at ₹2.03 billion; net profit at ₹247.3 million.

• Milky Mist Dairy Food (Q1 YoY): Net profit surged 10-fold to ₹64.7 crore (vs ₹6.5 crore); revenue rose 43.6% to ₹973.4 crore (vs ₹678.1 crore).

Negative Developments

• Sanofi India: Received show-cause notice for ₹363.9 million tax liability and ₹363.9 million proposed penalty.

• Apollo Techno Industries: CFO Maulikkumar Rameshbhai Bhatt resigned.

• Nephrocare Health: Subsidiary received tax audit review order from Tashkent City Tax Dept (Uzbekistan).

• Indegene: US court preliminarily approved class-action settlement on Aug 27.

• Kokuyo Camlin: Received tax demand with ₹660,000 penalty and ~₹4 million interest.

• Flair Writing Industries: Received tax demand of ₹2.6 million.

• Race Eco Chain: Received tax demand of ₹167.5 million.

• Indo Gulf Industries: Managing Director Gaurav Kumar resigned.

• Canara HSBC Life Insurance: CFO Taron Rustagi resigned effective Aug 31.

• HDFC Bank: Shares hit a 30-month low amid market assessment of leadership reset.

• Gem Spinners India: Managing Director remanded to police custody on Aug 29.

Neutral Developments

• Titan Biotech: Board to consider bonus share issuance.

• Sri KPR Industries: Reappointed Kishan Reddy Nalla as MD.

• Nihar Info Global: Approved issuance of 2M convertible warrants and 1.2M equity shares.

• Sammaan Capital: Board meeting set for Sept 7 to consider debt instrument issuance authorization.

• Welspun Corp: Subsidiaries decided against selling equity stake in CleanMax.

• Punjab National Bank: Maintained 1-year MCLR unchanged at 8.80% (effective Sept 1).

• A2Z Infra Engineering: Reappointed Amit Mittal as MD.

• Le Merite Exports: Agreed to sell Mumbai property for ₹15.3 million.

• GACM Technologies: Reappointed Jonna Venkata Tirupati Rao as MD.

• PNB Housing Finance: Board to consider NCD fundraising.

• Wheels India: Revised preferential issue price to ₹1,461 per share (from ₹1,418).

• Vintage Coffee & Beverages: Board to consider fundraising proposal.

• Bulkcorp International: Reappointed Punit Mahendra Gopalka as MD.

• Capital India Finance: Approved transfer of RemitX assets to Kanji Forex for ₹114 million.

• Kiri Industries: Approved issuance of 6.1M warrants at ₹475 each.

• Ganga Bath Fittings: Approved rights issue up to ₹170 million.

• Hathway Cable & Datacom: Sitendu Nagchaudhuri retired as CFO; Jitesh Shah assumes role Sept 1.

• Cosyn: Reappointed Ravi Vishnu as Chairman & MD.

• RCC Cements: Reappointed Sachin Garg as MD.

• SMT Engineering: Board to consider fundraising via shares/warrants/securities.

• AFCOM: Authorized investments and strategic investor induction in AFCOM Cargo FZCO.

• State Bank of India: Binod Kumar Mishra retired as DMD (Special Projects–Operations) on Aug 31.

• Avio Smart Market Stack: Board to consider acquiring equity in Ampivo Smart Technologies and QIP fundraising.

• Venmax Drugs: Redesignated Venkat Rao Sadhanala to MD.

• Vital Chemtech: Reappointed Vipul Bhatt as Chairman & MD.

• Nutech Global: Reappointed Rajeev Mukhija as MD.

• Radha Madhav: Appointed Nitin Jain as CFO.

• Bank of India: Fixed 1-year MCLR at 8.00% (effective Sept 1).

• Gujarat Hy-Spin: Appointed Maganlal Shambhubhai Parvadiya as MD for 5 years.

• Omega Ag Seeds Punjab: Appointed Pilli Meena Kumari as MD for 5 years.

• ICICI Bank: Priced $500M senior unsecured fixed-rate notes under GMTN programme.

• Setco Automotive: Reappointed Harish Sheth as Chairman & MD.

• Fractal Analytics: Approved Shilpa Kedia as CFO & Group CFO.

• SBI Funds Management: Devinder Pal Singh stepped down as Joint CEO on Aug 31.

• Kotak Mahindra Bank: Recommended two internal candidates for CEO position to RBI.

Macro, Domestic & Global Updates

• India GDP: Q1 FY27 GDP grew by 7.8% YoY (exceeding estimates), driven by 9.2% growth in manufacturing and 3.6% in agriculture.

• India Fiscal Deficit: Stood at ₹4.551 trillion (April–July), reaching 26.8% of the annual budget target.

• India Economic Outlook: August report warned food inflation could affect discretionary spending; CEA highlighted resilient rural demand and manageable overall inflation.

• RBI Actions: Conducting ₹6 trillion 7-day VRRR auction on Sept 1; forex forward book hit a record $136.76 billion.

• Government Borrowing: Bond auction of ₹320 billion scheduled for Sept 4 (₹210B new 2031 bonds, ₹110B 7.71% 2066 bonds). Benchmark 10-year yield closed at 6.9108%.

• Global Corporate & Geopolitics: OpenAI ad run-rate hit $1B; Fly91 evaluating 20 ATR aircraft; Hague tribunal ordered India to pause certain hydro projects under Indus Waters Treaty (India rejected jurisdiction).

Bulk & Block Deals

IPO Watch & Listings

Today's Listings (Sept 1, 2026)

• Mainboard: Symbiotec Pharmalab, Hy-Tech Engineers, Skyways Air Services

• SME: ABH Healthcare, Madhur Knit Crafts

Ongoing IPOs

• Closing Today (Sept 1): Priority Jewels, ESDS Software Solution, Complete Sports And Management (SME), Paluck Technologies (SME)

• Closing Tomorrow (Sept 2): Purple Style Labs, Ashutosh Fibre (SME), Shanti Inorganics (SME), Phychem Technologies (SME)

Upcoming IPOs

• Sept 1 – Sept 3: Rays of Belief Ltd (FPSE), Deepa Jewellers Ltd

Actionable Trading Data

Ex-Dividend Today (Sept 1, 2026)

• Aeroflex Enterprises, AK Capital Services, Alivus Life Sciences, Bengal & Assam Company, CCL Products (India), Garware Technical Fibres, Jindal Drilling & Industries, Maharashtra Seamless, Oriental Rail Infrastructure, Procter & Gamble Hygiene and Health Care, Rico Auto Industries, Rishiroop, SM Auto Stamping, Suprajit Engineering, Taj GVK Hotels & Resorts, Unique Organics, Vadilal Enterprises.

Securities Under F&O Ban Today

• SAIL

• LICHSGFIN
  
  Sources: WOWNEWS24x7, Moneycontrol, Investing.com