September 01, 2026

TOP NEWS

War update: US President Donald Trump has pledged to respond to Iranian strikes on US personnel in Jordan, saying, “We’re going to hit them hard”. Trump also says the Strait of Hormuz remains secure while claiming that Iran’s financial systems, military, and leadership have been largely degraded. Iran’s Islamic Revolutionary Guard Corps (IRGC) reports that its air defences intercepted a US MQ-9 drone over the eastern Strait of Hormuz following Trump’s comments. Seeing tensions not cooling off oil prices increased to $91/barrel and Asian markets remain muted and Gift nifty indicates slightly muted start ot he markets.

Macro update: Driven by near double-digit growth in manufacturing and services sectors, the economy grew a robust 7.8% year-on-year in the April-June quarter, despite the headwinds caused by the West Asia conflict, high energy prices and supply disruptions. This is well above the Reserve Bank of India forecast of 7%. The manufacturing sector grew by 9.2% in April-June, up from 8.3%. As a result economists have already begun raising their growth forecasts for 2026-27 as a whole. CareEdge Ratings, for instance, has raised its growth estimate for the year by 30 basis points (one basis point is a hundredth of a percentage point) to 7.3%, significantly higher than the RBI full-year estimate of 6.7%.

E2E networks: Disclosed an order of approximately Rs 1,000 Cr for NVIDIA Blackwell cloud GPUs and allied services, with the engagement running until June 2029 with an India-based Sovereign AI company. E2E will provide: NVIDIA Blackwell cloud GPUs + allied AI infrastructure services. This is a major step toward E2E securing long-term AI infrastructure customers, rather than depending only on shorter-duration business.

Milky Mist: Record quarter with extremely strong YoY growth and decent QoQ growth.  Revenue was up by 44% to Rs 973 crore. EBITDA grew 75% to Rs 145 crore. Margins came in at 14.8% vs 12% yoy. Higher volume growth, Improved product mix and pricing ability is seen.

Sun Pharmaceutical Industries Limited joined a White House ceremony on September 1, 2026, to announce agreements with the U.S. government aimed at improving access to affordable medicines. The deal includes a commitment to extend Most Favored Nation (MFN) pricing to state Medicaid programs. The agreement also secures a delay in Section 232 tariffs on innovative pharmaceutical products for over two years. Sun Pharma further commits to applying MFN pricing to future innovative medicine launches in the U.S. market.

EPL : Private equity firm Blackstone is reducing its investment in the specialty packaging company EPL Ltd. Through its affiliate, Epsilon Bidco, the firm plans to sell up to 26.4% of its equity in a block deal transaction. The sale involves approximately 8.45 crore shares offered at a price of ₹235 each. This price sits at a 10.3% discount compared to the stock's recent closing level of ₹261.70 on the Bombay Stock Exchange.

PVR Inox: The company's board on August 31 approved a buyback of up to 20.69 lakh equity shares at Rs 1,450 per share, aggregating up to Rs 300 crore, through the tender offer route. The buyback size represents about 4.1 percent of the company's paid-up equity capital and free reserves based on its FY26 audited financial statements. The buyback will be conducted through the stock exchange mechanism and will be open to all eligible shareholders on a proportionate basis. PVR INOX has fixed September 4, 2026, as the record date for determining shareholders eligible to participate in the buyback. The board also noted that members of the promoter group intend to participate in the offer.

OTHER NEWS

Happiest Minds Technologies: The company has agreed with ITC Infotech India to sell a 22.1% stake held by its promoters for ₹1,329 crore, as the two companies move to merge their businesses and create a larger technology services company. Under the share purchase agreement, Ashok Soota and Ashok Soota Medical Research LLP will sell 33.66 million equity shares of Happiest Minds, each having a face value of ₹2, representing 22.106% of the paid-up equity share capital of the Company. This will be consummated in two tranches. ITC Infotech will acquire an 11% stake for ₹653 crore at ₹390 a share in the first tranche, followed by an 11.106% stake for ₹676 crore at ₹400 a share in the second tranche. The board of Happiest Minds has also approved an amalgamation under which the company will merge with ITC Infotech. As part of the share-swap arrangement, shareholders of Happiest Minds will receive 25 fully paid-up shares of ITC Infotech for every 81 shares held in Happiest Minds.

NCC: Order Win: The company received three orders worth a total Rs. 430.19 crore during August 2026, all pertaining to its Buildings Division.

Brigade Enterprises: The company is entering Coimbatore with a 5.4-acre residential project in Saravanampatti through a Joint Development Agreement. The project has an estimated Gross Development Value of ~Rs. 600 crore and is located in the city’s IT corridor, with access to SEZs and IT parks. The launch strengthens Brigade’s residential presence in South India, while the company also has about 16 million sq. ft. of projects in the pipeline in Chennai.

UltraTech Cement: The company has commenced commercial production of house wires and light-duty cables at its Jhagadia facility in Gujarat from September 1, 2026. The facility has an installed capacity of 1.098 million km per annum, marking UltraTech’s diversification into the wires and cables segment.