August 26, 2026

TOP NEWS

 

War update: Iran and Oman outlined a joint proposal to establish a temporary shipping lane. US President Donald Trump reiterated that all mines in the Strait of Hormuz have been removed or detonated, and he threatened to destroy any boats that try to place more. On the other side China has also rebuffed the US sanction laid on Iran and other economic relations countries with Iran and mentioned sanctions will only intensify tensions. Crude has fallen by 8% this week to $86/ barrel. Asian markets has openend positive and gift nifty indicates a positive start with 70-75 points on the bourses.

 

Varun Beverages: Company is set to explore into the alcoholic beverages business and has appointed former Diageo executive Prathmesh Mishra as chief executive officer and managing director. Incorporated of a wholly owned subsidiary, KIVA Spirits and Company Ltd, to undertake the business of ready-to-drink (RTD) alcoholic beverages and allied products. Separately, the board approved plans to set up a joint venture in Tunisia as the company continues to expand its beverage operations outside India. The JV will produce and distribute carbonated soft drinks, juices, water and dairy products.

Cupid: The company has revised its guidance upwards to Rs 725-750 crore with net profit target of Rs 210-225 crore. Have indicated a longer-term target of Rs 1500 crore by FY29.

Groww: Ribbit Capital is likely to sell a 1.6% stake in Billionbrains Garage Ventures, the parent company of Groww, via a block deal, with the block size at Rs 1,914 crore and the floor price at Rs 195 per share.

 

Sai Parenterals: Company’s contracted over the counter (OTC) medicines supply business in Australia has reached AU$232 million (about Rs 1,506 crore) after its Australian subsidiary Noumed Pharmaceuticals renewed a three-year supply agreement worth AU$30 million (about Rs 204 crore) with a pharmacy chain. The agreement takes effect immediately and covers the supply of OTC medicines over three years, Sai Parenterals said in a regulatory filing on Tuesday. The company said the contract is worth about AU$10 million a year and provides for new product development and line extensions during the term.The latest renewal comes less than two months after Noumed renewed another supply agreement in Australia. That agreement, renewed on July 1, is valued at AU$202 million (about Rs 1,300 crore) over 7½ years.

 

Rainbow’ Children CFO Resignation: The company has accepted the resignation of Vikas Maheshwari as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) due to personal reasons, effective August 31, 2026. The company has already identified a prospective replacement, with the appointment subject to completion of necessary formalities.

 

Advait Energy: Received a turnkey contract worth Rs 134.63 crore from Madhya Pradesh Power Transmission Co. Ltd (MPPTCL) for the design, manufacturing and supply of an Emergency Restoration System (ERS) suitable for 400kV, 220kV and 132kV voltage-class EHV lines, complete with all accessories.

 

Honasa Consumer: Honasa Consumer has called off its proposed acquisition of a 58% stake in Fluence Pharma after the closing conditions under the share purchase agreement were not fulfilled. Honasa had announced the acquisition on June 23, subject to the completion of conditions precedent.

 

 

MACRO WRAP

  • Global Markets were buoyed overnight as oil prices fell sharply to a two-week low amid optimism around de-escalation in the Middle East. The move supported risk sentiment, sending US Treasury yields lower and equities higher. US: US equities advanced as technology led and oil's decline eased inflation fears. S&P 500 rose 0.3% to 7,677.28, the Nasdaq 100 gained 0.6%, and the Dow Jones added 0.3% to 53,577.40. Yields fell 5–7 basis points across the curve as crude oil's decline eased inflation concerns. The 10-year yield fell 6bps to 4.639% and the 30-year fell 5.8bps to 5.171%.
  • Reports that the US is preparing to return diplomatic staff to embassies across the region suggest the Trump administration does not anticipate a renewed escalation in conflict with Iran. This comes amid efforts to secure an interim reopening of the Strait between Iran and Oman.
  • Pakistan’s army chief visited Tehran to support diplomacy, Qatar said its mediation continues, and oil prices eased as new U.S. measures on Iran were milder than expected, stopping short of secondary sanctions.
  • Russian agency RIA reported that the US and Iran are close to a ceasefire deal that would include ensuring freedom of navigation in the Strait of Hormuz.
  • Crude oil extended Monday’s decline as easing Middle East tensions and signs of an interim reopening of the Strait between Iran and Oman weighed on prices. Brent fell 5.6% to US$87.0/bbl, a two-week low, while WTI declined 4.7% to US$81.0/bbl. Sentimentally positive for OMC’s  Paint stocks and Indian Rupee
  • China’s Zijin Mining Group Co. said its full-year copper production target was under pressure due to flooding at a, The Chinese miner said its share of output from the Kamoa- Kakula complex was expected to fall by as much as 57,000 tons this year,  Ivanoh cut 2026 production guidance at the mine to 290,000-330,000 tons from an earlier forecast of 380,000-420,000 tons cut 2026 production guidance at the mine to 290,000-330,000 tons from an earlier forecast of 380,000-420,000 tons. Positive for Global copper prices (hind copper).
  • US new home sales suggested that the housing market continued to lose momentum, as high interest rates continued to deter potential buyers. Sales unexpectedly dropped by 10.5% in July to an annualised pace of just 607k, the lowest since the start of the year. US house price data were a bit more mixed.
  • The FHFA House Price Index was unchanged in June, below the small 0.1%mth average increases recorded over the first five months of the year. Meanwhile, the S&P Cotality Case-Shiller 20-City Index rose 0.24%mth, the steepest increase since the end of last year.
  • The Richmond Fed’s Fifth District Manufacturing Survey showed that sentiment failed to improve this month, as markets had expected. The headline survey indicator edged back down 1pt to 4, still above its longer-term average of around zero. The detail showed that the shipments index rose to 11, the top of its range in recent years, but the new orders and employment gauges eased.
  • The German Ifo Business Climate Survey suggested that the euro area’s largest member state is gradually regaining some of its lost growth momentum. The headline survey index rose by 2.1pts to 88.8, a twelve-month high.
  • Data watch: we get July personal income, personal spending, and the PCE price index, the second estimate of second-quarter GDP annualized, preliminary July durable goods orders, and preliminary capital goods orders.

 

OTHER NEWS

 

Indian Metals & Ferro Alloys: The company initiated the initial tapping of hot metal from the first furnace at its greenfield ferro chrome expansion project in Kalinganagar. The company has confirmed that production volumes will be gradually increased in the future, following the completion of this initial operational milestone.

Welspun Corp: Welspun Investments & Commercials and MD & CEO Vipul Mathur are anticipated to sell 63 lakh shares, which represents a 2.4% stake in Welspun Corp, through block transactions. The block size is Rs 1,417 crore, with a floor price of Rs 2,250 per share, According to sources.

NBCC (India): The company has secured a Rs. 121.74 crore order from the Rajasthan Council of School Education for the construction of 170 new school buildings, replacing existing dilapidated schools. The project will be executed under the Project Management Consultancy (PMC) model.

 

ARSS Infrastructure Projects: The company has received a work order worth ~Rs. 129 crore from East Coast Railway for the construction of two Road Over Bridges (ROBs) on the Howrah–Visakhapatnam Main Line under the Khurda Road Division. The scope includes construction of railway and approach portions of the bridges, replacing existing level crossings. Market Cap: Rs125 crore.