September 10, 2026

TOP NEWS

Enviro Infra: Gets LOI from Tata Power for ₹224.19 Cr wind project of 180 MW at Parli, Maharaashtra. Scope: WTG foundation for 58 WTGs - 33 kV transmission line: survey, design, supply & erection - LOI execution deadline: 31st March 2027.

 

Dilip Buildcon: The company has been selected as the successful bidder for an LOI from the Petroleum and Natural Gas Regulatory Board (PNGRB) to develop an LPG pipeline from Paradip, Odisha to Raipur, Chhattisgarh. The project will be implemented through a 100%-owned SPV, with DBL responsible for development and operation of the pipeline for 25 years after a 3-year construction period. The EPC opportunity for DBL is worth ~Rs. 1,800 crore , to be executed over 36 months.

Shakti Pumps: The company has received a Letter of Empanelment from Maharashtra State Electricity Distribution Company (MSEDCL) for 10,000 off-grid solar water pumping systems of 3 HP, 5 HP and 7.5 HP across Maharashtra under the Magel Tyala Saur Krushi Pump Yojana. The order is valued at Rs. 216.64 crore and is to be executed within 60 days from the work order.

 

Redington: Keep an eye on the company as Apple new product launches have been at higher prices. Apple launched I phone 18 and I phone 18 pro at $1,199 and $1,299 respectively. Also launched foldable phone I phone Duo at $1,999.

 

OMCs (-ve): Crude oil crosses $101/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.

 

Juniper Green: Juniper Green Spark Ten, a wholly owned subsidiary of Juniper Green Energy, has fully commissioned a 75 MW wind-solar hybrid power project following the commissioning of the final 10 MW of wind capacity at the project site. Following the commissioning, the aggregate operational capacity of Juniper Green Energy and its subsidiaries stands at around 2,604 MWp, along with around 500 MWh of battery energy storage system (BESS) capacity, as of the date.

 

 

Macro Wrap

  • Asian markets are opening lower on Thursday, tracking Wall Street's third consecutive decline as surging oil prices and elevated Treasury yields stoke inflation fears ahead of Friday's US CPI. Equity futures for Japan, South Korea and Australia all pointed lower at the open.
  • US Central Command confirmed it destroyed five Iranian oil tankers near Kharg Island, Iran's primary crude oil export hub, and in the Gulf of Oman. This was a response to two Iranian attempts to strike a US Navy warship with ballistic missiles. The American vessel evaded both attacks and sustained no damage. Iran subsequently signalled that it is preparing for a more intense phase of the conflict, and separately fired missiles into Jordan, broadening the geographic footprint of hostilities.
  • The conflict continued to spread beyond the Iran-US bilateral dimension. Iran-backed Houthi militants launched fresh strikes on Saudi energy infrastructure in the kingdom’s south, igniting fires at several oil facilities.
  • Trump remains rhetoric in his threats to strikes on Pickaxe Mountain since mid‑July. Since February, US and Israeli strikes on Iran have pushed oil and gas prices higher, an issue Republicans have highlighted ahead of the November midterms.
  • The EIA in it monthly estimates reports global oil demand at 103.70 mbpd and global oil supply at 99.63 mbpd in August. For September, it projects demand at 104.21 mbpd and supply at 99.41 mbpd. It shows 11.59 mbpd of supply was offline in August, compared with 9.785 mbpd in July. The EIA now projects a deficit of 1.97 mbpd in 2026, compared with 1.91 mbpd previously, and a surplus of 4.90 mbpd in 2027, up from 4.78 mbpd. Positive for OMC’s and Crude oil
  • Treasury Secretary Scott Bessent announced a USD6bn buyback of longer-dated bonds maturing in 10 to 20 years. This was triple the prior operation size, but the announcement fell short of market expectations of up to USD10bn, sending long-end yields to fresh highs for the year.
  • The USD39bn 10Y note auction was awarded at 4.83%, the highest 10Y auction yield since August 2007. Fed funds futures markets are now pricing around a 60% probability of a 25bp increase at next week’s meeting, with August CPI data due tomorrow seen as the decisive input
  • ADP weekly payrolls soft: US private payrolls rose an average of 12,000 per week in the four weeks ending 22 August, according to ADP and the Stanford Digital Economy Lab. The prior monthly estimate for August had already come in at a weak +38,000.
  • US Mortgage rates at a 13-month high: The 30-year fixed mortgage rate rose 6bps to 6.85% in the week ended 4 September, the highest in over a year. MBA mortgage applications fell 2.7% week-on-week, with refinancings down 6.2%. negative for US Housing markets.
  • The DJIA, the S&P500, and the Nasdaq Composite Index dipped 0.8%, 0.5%, and 0.6% respectively. The Philadelphia Semiconductor Index bucked the trend, edging up 0.4%. The Euro Stoxx 50 fell 1.6%. The Dollar Index was little changed at 98.82. EUR-USD rose 10 pips to 1.1630. The US 2Y yield rose 4bp to 4.43%, and the 10Y climbed 5bp to 4.84%, as traders priced in a higher-for-longer rate path due to renewed oil-driven inflation risk. The German 10Y yield rose 8bp to 3.44%. The UK 10Y yield rose 9bp to 5.26%.
  • Brent crude oil prices rose 3.4% to USD101.21, crossing triple digits for the first time since July, as tit-for-tat strikes on oil infrastructure and tankers deepened supply disruption fears. WTI rose 3.3% to settle near USD96. Diesel futures settled at USD4.80 a gallon, it’s highest since April 2022. Gold rose 1% to USD4,399.

 

Other news

IRB Infrastructure: IRB Group’s toll revenue increased ~25% YoY to Rs. 807 crore in August 2026, from Rs. 646 crore in August 2025. Growth was driven by higher traffic volumes and tariff revisions implemented at the start of FY27. The company expects traffic momentum to remain positive, supported by economic activity and the festive season.

Hindustan Zinc Limited has signed a 6-year agreement with MFL limited for its mine-to-smelter logistics. Under that, MFL will deploy 30 new Electric Trucks and charging station infrastructure for Hindustan Zinc's Rampura Angucha mine to Rajasthan.

 

Coal India: its subsidiary NCL saw production rise 67% and supplies increase 75% as the monsoon receded; FY27 production stood at 51.43 MT and supplies at 55 MT as of September 8.

 

Power mech: The company has secured an order worth Rs. 970 crore from VEDANTA POWER LIMITEd for End to-End basis Operations and Maintenance contract at 2x600 MW at Vedanta Power Limited’s Sakti Thermal Plant, Chhattisgarh Coal based Thermal Power Plant, situated at village Singhitarai, Sakti (Distr), Chhattisgarh.

 

NMDC: State-owned NMDC increased the price of high-grade iron ore by Rs 150 per tonne to Rs 5,400 per tonne.

 

Indian Bank: Indian Bank proposes to divest up to 15 lakh equity shares, constituting 17.91 percent of its stake in the National Stock Exchange of India (NSE), through an offer-for-sale in the proposed initial public offering (IPO) of NSE, subject to requisite regulatory approvals.

ICICI Bank: ICICI Bank has received approval from the Reserve Bank of India (RBI) permitting ICICI Prudential Asset Management Company, the applicant, to acquire an aggregate holding of up to 9.95 percent of the paid-up share capital or voting rights in CSB Bank, DCB Bank, Kotak Mahindra Bank and AU Small Finance Bank.

Wipro: Wipro has launched its Chief Information Security Officer (CISO) Command Center in collaboration with Nasdaq-listed CrowdStrike. The Command Center is designed to strengthen enterprise security against frontier AI-driven risks by enabling proactive, risk-informed cyber resilience aligned with business priorities.

Gujarat Ambuja Exports: Gujarat Ambuja Exports said it will set up an 850 tonnes per day (TPD) greenfield corn wet milling plant at Hubli, Karnataka, with an investment of ₹333 crore through internal accruals, subject to regulatory approvals and clearances. The proposed facility is expected to be commissioned by Q4 FY29 and will be built adjacent to the company’s existing 750 tonnes per day corn wet milling plant at Hubli. The proposed plant will have the capacity to manufacture 400 tonnes per day of corn starch, 150 tonnes per day of sweeteners and 300 tonnes per day of feed ingredients.