October 07, 2026

TOP NEWS

War update: Yemen’s government forces are seeking to reverse Houthi gains near the Bab al-Mandeb Strait, backed by heavier Saudi air strikes, US intelligence and closer coordination between ground troops and air power. Trump said “millions of barrels” of oil had passed through the Strait of Hormuz in recent days, claiming transit levels were reaching or exceeding pre-war levels. Crude consolidates near $101/barrel and Asian markets have opened up negative, Gift nifty indicates after a 2-3 days indicates a negative start with almost 100 points cut on the bourses.

 

RBI Monetary Policy: The MPC will be announcing its monetary policy decision today, and as per the consensus estimates the RBI is expected to hike repo rate by 25 bps to 5.5%.

 

Apollo Tyres: Gaurav Kumar has resigned as CFO of the company, effective October 6, to pursue new personal and professional challenges outside the organization.

 

Kanohar electricals: Revenue grew at 103% leading operating profits to grow by 152% at Rs 39 crore. PAT grew by 140% to reach Rs 27 crore. FY27 guidance is at Rs 950+ crore vs 650 crore in FY26. OPM to remain at FY26 levels. Order book at Rs 2900 crore. On the capex side brownfield expansion at Gangol unit.

 

Karamtara Engineering: Revenues grew by 72% to Rs 1580 crore with operating profit rising by 45% to Rs 174 crore. Almost 62% of revenues was billed to international geographies of United states. Deliveries of solar tracker torque tubes and mounting structures to North American utility projects drove the execution surge, while domestic dispatches generated Rs 530.95 Cr. OPM were down by 206 bps to 11.0%.

 

Granules India : Granules India is transitioning from legacy high-volume generic drug manufacturing to a value-driven formulation mix. Supported by a strengthened balance sheet and a consolidated net cash surplus position, the company is deploying ₹2,000 crore in disciplined organic capital expenditure over the next 3-4 years to support its complex generics pipeline, oncology vertical, and high-growth peptide CDMO operations.

 

Mahindra Lifespaces: Launched Mahindra Rivenza in Baner Annex, Pune, spread across 13.46 acres with a GDV of ~Rs. 3,500 crore. Phase 1 will offer 1,236 units across 2, 3 and 4 BHK residences. The project will feature 2.65 lakh+ sq. ft. of amenities and 9+ acres of landscaped green spaces, targeting a premium residential positioning in a growing micro-market with connectivity to Hinjawadi and Baner IT hubs.

 

Macro Wrap

  • The UK Maritime Trade Operations reported nine attacks in the Strait this month, half of the amount in all of September. Vitol CEO warns that tanker shortage is disrupting Gulf oil flows, pushing charter costs higher, resulting in $200 a barrel oil scenario.
  • The US trade deficit widened 13.7% month-on-month to $105.6 billion in August, above the consensus estimate of $102.1 billion and the largest shortfall since early 2025. Imports rose 4.3% to a record $420.8 billion, while exports gained 1.4% to $315.2 billion. US goods exports to China fell 12.5% month-on-month.
  • ADP data showed US private payrolls rose an average of 23,750 per week in the four weeks ending September 19, consistent with a cooling labour market following last Friday's nonfarm payrolls print of just 29,000 — below all economist estimates.
  • US same-store retail sales rose 8.6% year-on-year in the week ending October 3, boosted by Amazon Prime Big Deal Days and competing promotional campaigns from major retailers.
  • The PBOC has increased its gold holdings for 23 consecutive months. China's gold reserves were 77.47 mln oz (2,409.59 tonnes) at end-September, up 0.74 mln oz (23.02 tonnes) MoM from 76.73 mln oz (2,386.57 tonnes) at end-August.
  • Japan's real wages rose 1.5% YoY in August, marking an eighth consecutive monthly increase, The August real-wage gain was below July's revised 2.0% increase. Average nominal wages rose 3.8% YoY in August (July revised 4.3%); base pay +3.8% YoY (unchanged from revised July); overtime pay +5.2% (July revised 4.5%). Tokyo's September core CPI rose to a 10-month high last week, reinforcing upward price pressure and the case for additional BOJ tightening. JGB yields expected to move further up.
  • The DJIA, the S&P500, and the Nasdaq Composite Index rose 0.5%, 0.6%, and 0.5% respectively. The Euro Stoxx 50 rose 0.5%. The Dollar Index fell 0.3% to 101.83 while EUR-USD gained nearly 40 pips to 1.1260. The US 2Y treasury yield fell 1.5bp to 4.80%, the 10Y yield fell 2.5bp to 5.28%, and the 30Y yield was unchanged at around 5.66%. The German 10Y dipped 1.5bp to 3.48%. Brent crude oil prices rose 0.3% to USD100.58 after falling by nearly 2% on Monday. Gold rose 0.6% to USD4,164.
  • Data watch: , we get the New York Fed 1-year inflation expectations. The focus will be on the Fed minutes for the September FOMC meeting and clues for further Fed rate hikes. The OIS market is pricing in just 5bp hike at the end of October and 26bp by year-end. They are pricing in a total hike of 82bp by end-2027.

OTHER NEWS

Laurus Labs: The company invested ₹12.09 crore in Kurnool Renewables through a rights issue and acquired 1.21 crore shares. Following the investment, its total stake in the associate company remained unchanged at 26%. 

 

Glass Wall Systems: Q1FY27 revenue grew 36% YoY to Rs. 107 crore, while EBITDA increased 9% to Rs. 23 crore, with EBITDA margin at 21.3% vs 26.6% YoY. PAT declined 8% YoY to Rs. 17 crore, mainly due to lower other income and higher depreciation following capacity expansion. Domestic façade revenue rose 93% to Rs. 62 crore, while international revenue declined 12% to Rs. 39 crore due to order-execution timing; fenestration revenue grew 127% to Rs. 6 crore. The order book stood at Rs. 982 crore as of July 31, 2026.

HCL Group announced the expansion of HCL IT City with a planned outlay of Rs 500 crore, The proposed expansion will create fresh capacity of up to 9.5 lakh square feet, which will be able to accommodate 4.500 technology professionals. HCLTech announced that 1.000 studer across Uttar Pradesh will be trained in allied technologies through its LITMUS programme during FY27.

 

JSW Cement: JSW Cement has commissioned an addition 1.00 MTPA cement grinding unit at Nagaur, Rajasthan. With this, its total cement grinding capacity has increased to 25.10 MTPA. while its total Cement FZC. stands at 9.74 MTPA.

 

Mphasis: The company will extend its collaboration with Social Security Scotland by signing a £35.4 million agreement. Under the contract, the company will manage and maintain Social Security Scotland's benefits management platform, which delivers core functions and benefits efficiently and securely to around 2 million citizens across Scotland.