September 02, 2026

TOP NEWS

War update: Iran claims that it has launched a heavy ballistic missile attack on Prince Hassan airbase and a US Marine base in Jordan in retaliation to missile strikes done by US. Trump says he is not trying to force Iran back to the negotiating table, dismissing reports that Washington is seeking a new agreement with Tehran. Trump earlier mentioned that if Iran retaliates to US strikes they will be hit again at a much harder and higher level. Amid the escalating tensions oil prices peaked t $96/barrel. Asian markets opened negative and gift nifty remains flattish with just 10 points cut on the bourses.

 

EMS Ltd: Awarded the Lowest Bidder (L-1) status by Government of Rajasthan for Sewerage Work. The estimated order value, including GST, is approximately Rs 218 crore. The project involves sewerage & septage management for sewer systems with STPs and laying/jointing/testing/commissioning of the sewerage system in 6 ULBs, including a 1-year defect liability period and 10 years of O&M. The execution period is 18 months. EMS will provide further updates upon receipt of the Letter of Award (LOA).

 

Texmaco Rail & Engineering: The shares will be in focus after the company bagged a ₹24.48 crore order from Transport Corporation of India and recently secured a $135 million locomotive export order

 

Caplin point Lab: The company's subsidiary has received confirmation of compliance with Good Manufacturing Practices (GMP) from the National Institute for the Surveillance of Food and Drugs (INVIMA), the regulatory authority designated by the Ministry of Health and Social Protection of the Republic of Colombia. INVIMA had concluded that COL complies with the GMP requirements for the manufacture of certain oncology drug products.

 

Welspun Corp: Welspun Corp and Perma-Pipe International Holdings, Inc. have signed a Memorandum of Understanding (MoU) with the developers of Jordan’s National Water Carrier Project and the Government of the Hashemite Kingdom of Jordan for the development of pipe manufacturing and advanced coating facilities in Jordan. As per the MoU, Perma-Pipe and Welspun Corp have partnered to establish an integrated pipe manufacturing and coating platform in Jordan, capable of serving major water, oil and gas, energy, and infrastructure projects in the Kingdom and across surrounding regional markets.

 

HPCL: State-run Oil Marketing Companies, including Bharat Petroleum Corporation, Hindustan Petroleum Corporation, and Indian Oil Corporation, will remain in focus on after Brent crude prices spiked to $96 per barrel. Negative

 

NMDC Limited reported provisional iron ore production of 4.07 million tonnes (MT) and sales of 3.58 MT in August 2026, according to a regulatory filing submitted to the stock exchanges. The company's August production increased from 3.37 MT in August 2025, while sales rose from 3.39 MT in the year-ago month. NMDC's total iron ore production stood at 4.07 MT in August 2026, compared with 3.37 MT in August 2025. Iron ore sales increased to 3.58 MT from 3.39 MT during the corresponding month of the previous year.

 

NALCO: Has expedited a Rs 30,000 crore capital expenditure program to expand its operations, featuring a 0.5 MTPA smelter and a 1,080 MW coal-based captive power plant in Anugola, targeted for commissioning by 2030.

 

L&T Finance: The company has received a perpetual Certificate of Registration (CoR) from the Insurance Regulatory and Development Authority of India (IRDAI) to act as a Corporate Agent (Composite), effective August 31, following the expiry of its earlier CoR on August 30.

 

Ujjivan SFB: Ujjivan Small Finance Bank has announced a change in its top management, with Sanjeev Nautiyal retiring early from his position as Managing Director & CEO. Carol Furtado has been appointed interim MD & CEO with effect from September 1, 2026, as disclosed by the bank in a regulatory filing. In a related development, the bank also announced the appointment of Vikas Agrawal as Business Head – MSME, effective the same date. The market participants will now watch for developments on the appointment of a permanent successor to the MD & CEO role, which will require regulatory approval from the Reserve Bank of India. Stock to be in focus

 

Banking: Inflows into India's Foreign Currency Non-Resident (Bank) deposits have crossed the $100 billion mark, as per media reports, as the Reserve Bank of India's special swap scheme launched in June 2026 to shore up the rupee and boost forex reserves drew far stronger participation than initially anticipated. The surge was fuelled by banks offering NRIs high leverage ratios on FCNR(B) deposits, pushing effective returns well above conventional fixed-deposit rates, even as the RBI advanced the scheme's closure deadline to August 31, 2026, to manage the pace of inflows; while the milestone offers a near-term boost to reserves and systemic liquidity, analysts caution that a sizeable share of these leveraged flows could reverse once the deposits mature and yields normalize.

 

Macro Wrap

  • The renewed escalation raises the risk of a more prolonged disruption to energy flows through the Strait of Hormuz and has effectively reversed the tentative improvement in sentiment toward the conflict seen in recent weeks The renewed escalation raises the risk of a more prolonged disruption to energy flows through the Strait of Hormuz and has effectively reversed the tentative improvement in sentiment toward the conflict seen in recent weeks.
  • The US 10-year Treasury yield rose to 4.796%, its highest since January 2025, while the 2-year reached 4.392%. The 30-year yield climbed back to 5.27%, erasing gains from Treasury Secretary Bessent's August buyback expansion. Japan's 10-year JGB yield touched 3.00% for the first time since 1996, UK 30-year gilts hit 5.89% — the highest since May 1998 — and Germany's 10-year Bund reached 3.364%, a level last seen in 2011. The global bond selloff has spread to EM, pushing yields higher from South Africa to South Korea.
  • Bessent said Iran’s bankruptcy is in the “acceleration phase” and noted that 17 million barrels of crude moved through Hormuz on Monday, suggesting Tehran lacks control of the strait.
  • Germany’s manufacturing PMI was revised up to 54.3 in August 2026 from 54.1 and 52.2 in July, the strongest since May 2022, driven by stronger new and export orders. Supply chain pressures worsened, prompting more input buying, while input cost inflation eased but stayed elevated.
  • UK house prices rose 1.6% year-on-year in August 2026, up from 1.4% in July but below the 2.1% forecast, with activity still subdued amid economic uncertainty and higher energy costs. Affordability has improved as prices trail earnings, though higher mortgage rates offset some benefits. Month-on-month, prices rose 0.2% after a 0.1% fall in July.
  • US JOLTS — July job openings: Available positions rose to 7.27 million from a downwardly revised 7.18 million in June, slightly below the Bloomberg consensus of 7.31 million. Layoffs fell, suggesting the labour market remains in a low-hire, low-fire environment.
  • US ISM Manufacturing: The factory gauge eased but held close to a four-year high, providing a broadly constructive read on industrial activity even as rate-hike fears mount.
  • Eurozone flash CPI — August: Headline inflation accelerated to 3.3% year-on-year from 2.9% in July, the highest reading in nearly three years, driven primarily by energy prices. Core inflation was little changed, providing some nuance to the print.
  • Data watch: we get ADP employment, factory orders, and durable goods orders.

 

OTHER NEWS

 

SAIL: The company accelerated its Rs. 15,000 crore FY27 capital expenditure plan, targeting 35 MTPA capacity by 2031 and commercialisation of hydrogen-based Direct Reduced Iron (DRI) technology.

 

ARSS Infrastructure Projects: The company has received a work order worth around Rs 104.06 crore from East Coast Railway for the construction of two road overbridges on the Howrah–Visakhapatnam main railway line.

 

Ashiana Housing: The real estate company recorded bookings of 1.67 lakh sq ft worth Rs 165.93 crore in August 2026. For the current financial year up to August, total bookings stood at 11.30 lakh sq ft, valued at Rs 1,025.34 crore.

 

Tata Motors: The automaker has been granted approvals required for the acquisition of Italian commercial vehicle maker Iveco Group.

 

Reliance: RIL's FMCG arm, Reliance Consumer Products (RCPL), has entered India's ice cream market with the launch of Bombay Creamery.

 

Adani Green Energy: A subsidiary has commissioned a 139 MW solar power project at Khavda in Gujarat. Following the commissioning, the company's total operational renewable energy capacity has increased to 20,280.8 MW.

 

Centum Electronics: Secured an export order worth USD 3.22 million (Rs 30.5 crore) from a global OEM customer for design, development and delivery of electronic systems. Execution is scheduled over the next seven months.