September 17, 2026

TOP NEWS

War update: Trump again mentions that US was “hopefully toward the end” of its war with Iran, while claiming that he had spoken directly with Iranian officials and reiterating that Tehran was seeking a deal. Whereas Iran says US must take practical steps to earn Tehran’s confidence, stressing that the country harbors zero trust in Washington. Easing of supply chain gives a cushion to Oil prices and declined to $105/barrel. Asian markets opened positive and gift nifty indicates.

 

Wipro: Higher US interest rates raise borrowing costs for American companies, making them more cautious with capital and squeezing budgets for discretionary spending including IT and tech projects. Since US clients account for the bulk of revenue for major IT services firms (like Infosys, Wipro), this typically means delayed deal signings, project cuts, and slower new spending, which drags down revenue growth and investor sentiment for IT stocks.

 

Krsnaa Diagnostics : The company has signed a 15-year concession agreement for PET-CT facilities in Punjab. The deal involves four government hospitals under a DBFOT public-private partnership model. Revenue will be cash-based, dependent on scan volumes and user charges rather than fixed fees. This marks the company's first entry into the PET-CT diagnostic segment

 

MRPL: The Centre has cut the windfall tax on petrol exports to Rs 0.5 per litre from 1.5 per litre for the next fortnight, effective September 16. It has also cut the levy on diesel exports by Rs 5 to Rs 20 per litre, and on aviation turbine fuel (ATF) to Rs 15 per litre from Rs 19 per litre earlier. The Rs 0.5-per-litre levy on petrol exports will be charged entirely as Special Additional Excise Duty (SAED)

 

Imagicaaworld Entertainment Ltd: The company is set to sell its 5-star resort 'Novotel Imagica' to Juniper Hotels Ltd. for Rs 248 crore, according to an exchange filing from the company. The proceeds from the sale are intended to help Imagicaaworld meet its long-term capital requirements for its expansion plans which include expanding the park business geographically, adding attractions in existing locations, and aiding the indoor entertainment foray, while keeping its overall debt position on the lower side.

 

Highway Infrastructure: The company has secured a ₹220.66 crore contract from the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) for toll collection and plaza operations on the Gorakhpur Link Expressway. The Letter of Acceptance (LOA) was issued on September 16, according to the company's exchange filing.

 

GCC linked: Saudi Arabia is seeking to resume half the capacity of its cross-country East-West oil pipeline within days following recent drone attacks. State-run Saudi Aramco is working to bypass the damaged section to enable partial flow.  Full operational capability of the 746-mile pipeline is expected to take about six weeks to restore completely.

 

Mazagaon Dock: signs an MoU with National Shipbuilding & Heavy Industries Park Maharashtra Ltd. (NSHIPML) to establish a Greenfield Shipbuilding Industrial Cluster at Dighi. With a planned investment of Rs 27,000 crore, including about Rs 15,000 crore committed by MDL, the project will target an annual shipbuilding capacity of 2 million gross tonnes and create 15,000 direct and 75,000 indirect jobs.

 

Fortis Healthcare: The company has signed definitive agreements to provide healthcare services at a 400+ bed super-specialty hospital in Ashok Vihar, New Delhi. The hospital is expected to begin operations in 3-4 years, subject to approvals.

 

 

MACRO WRAP

  • US Fed Chief Kevin Warsh passed his credibility test by hiking the Fed’s policy rate against the wishes of the White House. The Fed raised the funds rate 25 bps to 3.75%–4.00% in September 2026, its first hike since 2023, citing elevated inflation and the need to move back toward 2% .
  • The FOMC statement said “Economic activity is expanding at a solid pace. While uncertainty remains elevated owing, in part, to geopolitical developments, domestic spending has been resilient. Productivity growth is strong, and capital investment is robust. Job gains have kept pace with the workforce, and the unemployment rate has changed little. Inflation remains elevated. Today’s policy action will support a timelier return to the Committee’s 2%. The Committee will deliver price stability.
  • The Fed funds futures are pricing in 51% probability of a 25bp hike in October and a total hike of 33bp by year-end. The Fed has two meetings left this year, on 27-28 October and 8-9 December. The October meeting will take place just a week before the mid-term elections.
  • The DJIA and the S&P500 fell 1.2% and 0.5% respectively, while the Nasdaq Composite was little changed. The Euro Stoxx 50 rose 0.5% before the Fed announcement. The Dollar Index gained 0.6% to 100.25. EUR-USD fell 50 pips to 1.1470.
  • The US 2Y Treasury yield rose 7bp to 4.74%, its highest since 2024, while the 10Y yield rose 2bp to 5.02%. The US 30Y yield dipped 1bp to 5.36%. The German 10Y yield fell 3bp to 3.51%. The UK 10Y yield fell 9bp to 5.30%. Brent crude oil prices fell 2.7% to USD105.83. Gold fell 0.7% to USD4,264.
  • Saudi Arabia expects to restore about half of its East-West pipeline capacity within days and full flows in six weeks after drone damage, and is temporarily shipping more crude through the Strait of Hormuz with US military support.
  • US retail sales rose 1.2% m/m in August 2026, the strongest in five months, after a 0.5% drop in July and above the 0.8% forecast. Gains were broad-based, led by gas stations and online retailers, while building materials/garden stores slipped. Core retail sales jumped 1.4%, far above the 0.4% consensus.
  • Data watch: we get initial jobless claims, housing starts, building permits, and pending home sales.

 

OTHER NEWS

 

KPIL: Announced that its Swedish subsidiary Linjemontage i Grästorp AB received approval for its IPO prospectus from Swedish regulators and its board. 

 

Navin Fluorine and SRF: China cuts R32 gas exports by ~17K Tonnes during Jan-July 2026 lending support to NT price realizations. Positive in NT for Navin Fluorine and SRF. However, going into CY2027 with supply coming in R32 gas prices are expected to rationalize from current levels.

 

Bharat Heavy Electricals: The state-run capital good major will form a 50:50 joint venture company (JVC) with Titagarh Rail Systems for the comprehensive maintenance of the supplied Vande Bharat Sleeper Trainsets for 35 years.

 

Sonata Software: Sonata Information Technology has signed a five-year Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS) to accelerate cloud adoption and modernisation for enterprises across India. The agreement advances Sonata's hyperscaler-led growth strategy and expands its ability to address cloud transformation opportunities in the Indian market.

 

India Pesticides: The agrochemical player has successfully obtained Technical Equivalence approval for one of its insecticide products in the United Kingdom. It has also successfully obtained registration for one of its herbicide products in Argentina.