September 09, 2026

TOP NEWS

Innovision: The company has received a Letter of Award (LoA) worth Rs 243.6 crore for the engagement of a user fee collection agency for IDTL A and IDTL B fee plazas for the six-laning of the Indore-Dewas section of NH-3 and Pachwara fee plaza of NH-39 for the four-laning of the Jhansi-Khajuraho section in Madhya Pradesh. The order also includes the upkeep and maintenance of adjacent toilet blocks, including the replenishment of consumable items.

 

Enviro Infra Engineers: The company's subsidiary, Suyog Urja, has received a contract worth Rs 189.99 crore from Tata Power Renewable Energy for the execution of EPC turnkey works for the development of the 180 MW NTPC Wind Power Project at Parli, Maharashtra.

 

OMCs/Aviations (-ve): Crude oil at $100/bbl is negative for Indian OMCs, as higher crude raises their input costs and can pressure marketing margins, especially if retail fuel prices are not increased proportionately. HPCL, BPCL and IOC could therefore see near-term margin and earnings pressure, while inventory gains may provide some offset.

 

Coforge (-ve): Om Prakash Bhatt resigned as  an Independent Director and Chairman of the board, following an internal audit review. In a filing to BSE, the company said the review identified certain concerns in relation to the manner in which the Board Evaluation Report (BER) had been dealt with and presented to the board, including certain material information contained in or relating to the BER and the performance of the Chairman had not been fully disclosed to the board when the BER was presented.

 

HEG/Graphite: GrafTech International announced a minimum increase of 30% in graphite electrode prices, effective immediately for all open commercial negotiations.

 

Adani Energy Solutions: The company’s wholly owned subsidiary Powerpulse Trading Solutions (PTSL) has entered into a 25-year Power Purchase Agreement (PPA) with Maharashtra State Electricity Distribution Company (MSEDCL) for the supply of 2,500 MW of renewable energy on a round-the-clock (RTC) basis. The rights and obligations under the original Letter of Award issued to Adani Power have been transferred to PTSL. The agreement strengthens PTSL’s power supply portfolio and energy solutions business.

 

Ritco Logistics: The company secured approximately Rs 388 crore in new business wins across major energy, FMCG, steel, and industrial sectors. Simultaneously, its step-down subsidiary, TrucksUp Solutions Private Limited, completed a major equity funding round of Rs 78.26 crore. The funds will target deep-tech/AI integration, product team expansion, intelligent freight-matching, asset utilisation, and fleet working capital.

 

Macro Wrap

  • The dominant driver overnight was an escalation in the Middle East conflict.  Iran’s Islamic Revolutionary Guard Corps said in response to US strikes on Iranian tankers in the Persian Gulf, it struck two US warships and eight tankers and also struck ten vessels it said were violating regulations the group has struck 10 vessels attempting to transit a restricted/danger zone in the Strait of Hormuz.
  • US forces struck multiple Iranian tankers linked to the Islamic Revolutionary Guard Corps in response to attempted missile strikes on a US warship near the Strait of Hormuz. Targets reportedly included sites near Iran's key crude oil export hub of Kharg Island and the port city of Jask
  • Saudi Arabia confirmed that operations at several energy facilities in the kingdom’s south were halted following fresh attacks, sending Brent crude oil prices toward USD98 a barrel and reinforcing fears that central banks may need to keep rates higher for longer to contain any second-round inflation effects.
  • US Fed funds futures markets are now pricing around a 63% probability of a 25bp increase for September meeting as a result. The supply disruption also weighed on the Indian rupee, which fell the most in two months as concerns over India’s external payments bill mounted, with the Reserve Bank of India (RBI) reportedly selling dollars in the FX market to limit further declines.
  • China’s August trade data delivered a broadly firm result. Exports rose 25.0% yoy (Bloomberg consensus: 23.8%) vs 23.9% in July. The AI-driven technology investment cycle continued to support outbound shipments of electronics and machinery.
  • China’s Crude oil imports rose 6.2% mom to 37.93mn tons, reflecting a rebound in Chinese buying that is tightening regional crude markets. Exports to the US rose 34.4% yoy to USD42.5bn, widening the bilateral surplus to USD29.2bn from USD27.9bn in July.
  • The DJIA, the S&P500, and the Nasdaq Composite Index fell 1.2%, 0.6%, and 0.3% respectively. The Philadelphia Semiconductor Index surged 1.3%. The Euro Stoxx 50 edged up 0.1%. The Dollar Index fell 0.4% to 98.79. EUR-USD was unchanged at 1.1620. The US 2Y yield rose 3bp to 4.39% and the 10Y edged up 1bp to 4.79%. The German 10Y Bund yield fell 2bp to 3.37% and the UK 10Y Gilt was little changed at 5.17%. Brent crude oil prices rose 0.9% to USD97.92, as the Saudi facility attacks stoked fresh supply concerns. Gold fell 1.1% to USD4,356.
  • Brent trade just $100 and WTI at $94 amid the renewed escalation between US-Iran at the Strait of Hormuz, LME 3-month copper futures hit a fresh all-time high of $14,779/ton intraday on Tuesday, closing at $14,708.50/ton, up nearly 18% year-to-date. The rally is driven by tight near-term supply, expectations of US tariffs on refined copper imports, and structural demand from AI data centres and the energy transition. Chile's Collahuasi mine is reportedly restarting a mothballed processing plant amid record prices.
  • Data watch: we get the ADP weekly employment change for the week ending 22 August.